White House Issues a Highly Deceptive Economic Report 

Biden’s poor economic performance pushed the United States to the brink of recession. However, the White House still celebrated the economic success of the Biden administration in its newly released report.

White House Tries to Defend Biden’s Poor Economic Performance

Last week, the White House issued a report outlining Biden’s economic vision. Yet, the report became a laughingstock as it contained numerous technical errors.

Five footnotes in the economic report displayed an error message. Likewise, the same phrase was copied and pasted in many different paragraphs to brag about the efficiency of Biden’s economic team.

The White House kept on insisting, in different paragraphs with the same wording, that the Biden administration worked to make a strong labor market recovery possible.

Despite historic inflation, the economic report did not mention skyrocketing prices or the chronic budget deficit, which is happening due to the rigorous social spending of the Biden administration.

Instead, the report insisted bringing inflation down is the top priority of Biden, even though his reliance on social spending measures is making the inflation worse.

The highly unrealistic report did not talk about the specific measures which the Biden administration is pursuing to bring inflation down.

In fact, the report emphasized policies that are bound to worsen inflation. For instance, the White House report noted the Biden administration is stopping cheaper imports just to make the same thing in the US more expensively.

Similarly, the administration is trying to impose Davis-Bacon wage rules in the CHIPS Act, which will increase the cost of manufacturing semiconductors locally.

Implementation of Davis-Bacon rules is one of the primary demands of labor unions; so the Biden administration is once again trying to please unions at the expense of Americans’ interests.

The whole purpose of the CHIPS Act was to manufacture cheaper and more accessible semiconductors in the US, but the administration already compromised on that goal.

White House Report is No More Than Eyewasher

While the White House lamented the rising fees of educational institutions, it also bragged about the increase in student aid programs and Pell grants, which incentivizes colleges to increase their tuition fees further.

Although the White House mentioned the government brought the deficit down in the fiscal year 2022, the report failed to point out the declining deficit was the result of large tax revenues and expiring coronavirus spending.

This means the administration is reducing the deficit by burdening the average American taxpayer.

Within the first 20 months of Biden’s presidency, Democrats have added nearly $4 trillion to the deficit, due to their so-called Inflation Reduction Act, Infrastructure Bill, American Rescue Plan, CHIPS Act, and student loan forgiveness programs.

The White House also took the credit for economic recovery that is happening due to the receding coronavirus pandemic.

As the US economy reopens, nearly 9.7 million jobs have been created, which has nothing to do with economic policy of the Biden administration.

Though the White House suggested Biden’s economic measures have increased employment opportunities in the United States.

This article appeared in The State Today and has been published here with permission.