Biden Calls US Economy 'Envy of the World' Hours After Announcement of 85K American Layoffs
Had Joe Biden taken five minutes to watch the morning news before giving his State of the Union address Thursday, he might not have made a boast out of an easily disprovable claim.
In a flaccid attempt to make himself look halfway competent, Biden boasted in his speech that the American economy is the “envy of the world.”
As you can see in this clip of the speech shared to the social media platform X, Biden was quite forceful in this declaration.
BIDEN: “Our economy is the envy of the world….” pic.twitter.com/XpVsJgE6v4
— Conservative War Machine (@WarMachineRR) March 8, 2024
“Folks!” he said over thunderous applause from the Democrats in the audience, “I inherited an economy that was on the brink. Now our economy is the envy of the world,” a statement greeted by yet more applause from his loyalists.
Sure is, if you don’t account for the estimated 1,700 percent increase in industrial layoffs.
Yes, what Biden apparently wasn’t aware of — or chose to ignore — when he made that sweeping declaration was that, as Fox Business reported Thursday, layoffs surged in February to the highest level since 2009.
That was, as Fox Business explained, according to a report released Thursday morning by Challenger, Gray, & Christmas, which shared that businesses planned upward of 80,000 job cuts in February.
To put that in perspective, that’s a 3 percent increase from January, and a 9 percent increase from February of 2023.
As Andy Challenger, senior vice president of the firm, explained, “we’re witnessing a persistent wave of layoffs. Businesses are aggressively slashing costs and embracing technological innovations, actions that are significantly reshaping staffing needs.”
Technology companies have lost over 28,000 employees since the year started, financial firms saw a 54 percent increase in layoffs in comparison to the same time last year, and industrial goods manufacturing companies saw a whopping 1,754 percent increase in layoffs compared to the same time last year.
Among the reasons companies gave for this massive increase in layoffs?
According to the Challenger report, the main reason was “restructuring” due to the overall economic and market conditions, including store closures.
And, considering how much inflation has risen since Biden took office, these kinds of layoffs are almost an inevitability.
Some of those who heard Thursday’s speech took issue with Biden’s boast that the U.S. economy is the envy of anyone, let alone “of the world.”
Wow. Joe Biden calls our economy “the envy of the world.” Is that what he calls 40-year record inflation and families being forced to pay $11,400 MORE per year for the same goods and services? #SOTU2024
— Markwayne Mullin (@SenMullin) March 8, 2024
Joe Biden:: ” our economy is the envy of the world.”
Excuse me?
Inflation is UP 20% since Biden took office.
Energy and housing is up OVER 30%
His statement is not only ABSURD its a slap in the face to every day Americans trying to feed their families. #SOTU2024
— JohnGalt 🇺🇸🇮🇱 (@JohnJGaltrules) March 8, 2024
Joe Biden claimed his economy is now the “envy of the world.”
FACT CHECK: Hardworking Maryland families are paying $12,778 more per year just to afford the basics.
— Rep. Andy Harris, MD (@RepAndyHarrisMD) March 8, 2024
If the economy is as great as Biden wanted us to believe in his State of the Union address, why hasn’t he done anything as president to make his claims come closer to reality?
Unfortunately, we all know the probable answer: Biden and the Democratic party don’t actually care about ordinary Americans.
The more Americans are dependent on government aid for the most basic essentials, the more votes the Democratic party gets.
That said, at this point, Biden might have overplayed that hand.
Between the horrible economy and the frightening spike in layoffs — not to mention Biden’s bizarre, angry State of the Union performance as a whole — he can’t expect a decent showing in his favor at the polls in November.
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