Liberal broadcasters like Don Lemon, formerly of CNN, are being laughed at by people they are interviewing when they tell them how good the economy is.
They have been fond of citing U.S. Department of Labor job growth numbers in Elitesplaining to working stiffs about how good they have it.
It doesn’t matter that the American dream of homeownership is further away for current first time homebuyers than it was for their parents due to Bidenflation. It doesn’t even matter that the average person’s real wage which factors the government cost of living numbers is lower today than when Joe Biden took office.
The Don Lemons of the world have been desperately clinging to the monthly good news reports on the state of job growth in America.
Will this presidential election be the most important in American history?
The only problem is that the government reported number was wrong, dead-wrong. A whopping 818,000 jobs wrong.
Rather than the country experiencing robust jobs growth, it instead has been treading water at best.
The biggest poke in the eye of private sector working Americans is that the entirety of the over-reporting of job growth was in the private job numbers. The toxic growth in government jobs was actually slightly under-reported with 1,000 more bureaucrats on the taxpayers’ payroll than the previous year.
With 819,000 reported private sector jobs not existing, is it any wonder that so many Americans looked at the Biden administration cross-eyed every month when they crowed about their jobs economy. It didn’t actually exist, at least not anywhere near the extent of what they claimed.
Actual real-life Americans have been feeling the pain of the Biden economy with the New York Federal Reserve reporting that credit card delinquency rates reaching 7.18 percent up from 5.08 percent a year ago. Overall credit card debt has also risen by almost ten percent over the past year up by $111 billion to $114 billion.
Fewer jobs than reported, more and more bills put onto the credit cards hoping that paychecks will catch up with inflation before hitting the debt limit with sharply increasing delinquency rates being the harsh reality.
Perhaps elites in the country should ask why the nationwide Michigan Consumer Sentiment Index has been stuck at much lower levels than would be expected around 20 percentage points below the historic average, rather the declaring the people wrong, based upon historically unreliable job growth numbers.
All in all, the massive 818,000 downward revision revealed the truth that the Biden-Harris economy was much like the emperor with no clothes dependent upon statistical calculations that flew in the face of other powerful and contradictory information.
The biggest takeaway for both political parties is that when the public tells you the economy stinks and that they are sinking in a toxic combination of price spirals and stagnant wages, they should listen rather than argue with the people about how good they actually have it.
Rick Manning is the President of Americans for Limited Government.
Cross-posted with The Daily Torch
Related:
- So Hundreds Of Thousands Of Those “Jobs” Were Completely Fake?
- Job Gains Were Overstated By 818,000 The Past Year, Bureau Of Labor Statistics Reports, Largest Downward Revision Since 2009 Great Recession
- Kammie-La’s Commerce Secretary Gets Busted Showing Financial Ignorance On National TV (Video)
- Lemon DEMANDS Social Media Regulate Opinions, Show Where His Critics Live (Video)
- Readers Name CNN’s Don Lemon Liberal Media Propagandist of the Year for 2020
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