Joe Biden joins CEO round table spews false information (Video)

Biden claims a couple things in this speech. First he claims that 6.5 million jobs were added what he leaves out is that during the pandemic we saw the largest dip in jobs since the great depression. We saw people either lose their jobs because of jab requirements, people ordered to stay home because of mandates, and large swaths of the country closed down for long periods of time. Some major cities are still forcing residents and putting great strain on their citizens.

 

We saw progressively the “employment” increase especially the 4 years Trump was in office. While this 6.5 is an adding of jobs the question one should ask is it a “net” gain. No its not many of these jobs are workforce returnees’ getting back to work after the shutdowns.

This statement by the president is false.

Second, he claimed in the speech he “reduced the deficit” in his state of the Union address he claimed he would be the first president to reduce the deficit by one trillion and here he claims he already has reduced it.

In 2020 the deficit spending was the highest due to the massive amount of money spent on relief efforts for every American. Since 2020 was such an anomaly or some would say a terrible year combined with poor governmental management by many states who kept their citizens locked down; we are taking that year out of the equation.

 

As 2021 moved on we got back to work, more states and localities started to open up and tax revenue got back to normal. The only way to reduce the deficit is by tax revenue since definitionally deficit spending is spending beyond the tax revenue coming in. In 2021 by the end of the year with tax revenue getting back to normal compared to all other years in which tax revenue was coming in it is the seconded highest on record for deficit spending.

Biden and the administration knows this which means either they are lying or they are terribly mistaken which would worry most that maybe they have no idea what they are doing.

This statement is false. The deficit was not reduced.

Third, he tells the CEO’s and business owners not to get profits essentially. The back bone of the American economy is businesses, both small and large.

The only way a business owner gets paid, expands their business, hires more employees etc. is to make money. The very fact the president is telling business leaders not to do the very thing that will make the country stronger “economically” is quite possibly why we are in the economic situation we are in.

This we rated as very bad advice.

One only need to look around and see high gas prices, rising inflation, businesses closing, and families hurting to know one should be very suspect about the boastful claims of this administration on anything economy related.

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