The Biden administration is once again in hot water.
According to Breitbart, Jared Bernstein, Chair of the White House Council of Economic Advisers, recently provided insights during a CBS interview on the economic advancements resulting from President Joe Biden’s policies. He couldn't answer a simple question on the economy, putting millions of Americans in danger.
In the interview that occurred last Friday, Bernstein elaborated on the current robust state of the job market and how wage growth is surpassing the rate of inflation.
This positive economic trend is attributed to a range of Biden's policies aimed at reducing extraneous expenses like certain credit card and airline fees. These initiatives also encompass the substantial lowering of healthcare and prescription drug costs.
Bernstein pointed to recent labor data to underscore these achievements. The most recent jobs report revealed an unprecedented employment rate among women since records first began in 1948, indicating a significant milestone.
Jared Bernstein provided a quote about the broader impact of these economic policies, "We have a good job market, wages are outpacing inflation, and Biden has cut some costs. This is a President who is consistently fighting to cut taxes on the middle class and to ensure that the wealthy and the corporations pay their fair share, aggressively going after junk fees, whether it’s credit card fees, airline fees, in entertainment, he’s having — making real progress in cutting those junk fees, and of course, again, on prescription drugs, on health care, on the cost of insulin, these are measures that are in effect, actively lowering costs, that the other side wants to reverse."
Bernstein noted that for approximately 13 consecutive months, wage gains have effectively been outstripping rising prices on a year-over-year basis. According to him, these real wage increases are a testament to the sound economic strategies proposed and implemented by the current administration.
Furthermore, the economic adviser highlighted records of low unemployment rates, which have contributed to the overall positive sentiment about the economy's direction under Biden's leadership.
As we edge closer to the potential re-election of President Biden, Bernstein emphasized that the continuation of these policies is crucial for ongoing economic stability and growth. Specifically, these measures play a significant role in managing costs that directly impact middle-class Americans.
However, some concerns should the opposition come into power, there may be attempts to reverse these progressive economic measures, putting at risk the gains made so far. "I think we also need to reference the fact that wages have been outpacing prices, real wage gains, for about 13 months in a row, on a year-over-year basis," Bernstein added.
The constant increase in the employment rate, especially among women, and the reduction in unnecessary fees, and healthcare costs, are central themes of the Biden administration that have been visibly improving American livelihoods.
The economic policies enacted over President Joe Biden's term have led to plenty of difficulties with Americans around the country. Many will use this as a reason to potentially vote against Biden in the upcoming election, despite his administration trying to use information to twist a narrative.
As we approach another potential election period, the outcomes of these policies could be pivotal in informing the public’s decision on whether to continue on this trajectory or to seek alternative paths.
