|This week, President Biden and Democrats proved yet again that they’re laser focused on delivering results for the American people, and the contrast with Republicans couldn’t be more clear. While President Biden is getting our economy back on track and taking action to reduce inflation, Republicans are busy rooting against our economic recovery to score political points.
President Biden is overseeing a historic economic recovery, as retail sales remain strong heading into the holiday season and unemployment trends toward a 50-year low.
The Hill: “Retail sales up 1.7 percent in October, beating expectations”
Reuters: “U.S. manufacturing output races to 2-1/2-year high”
Pantheon Macroeconomics: “We expect a blockbuster holiday season as people make up for lost time and begin to run down some of the $2.5T in accumulated excess savings since the pandemic began.”
CNN: “The unemployment rate will match 50-year low by end of 2022, Goldman Sachs says”
Walmart Chief Financial Officer Brett Biggs: “Overall, the consumer appears to us to be in really good shape…. Wages are up. Jobs are available and spending appears to be strong.”
President Biden and Democrats delivered on the Bipartisan Infrastructure Deal and are working to pass the rest of President Biden’s economic agenda, which economists agree will combat inflation.
Letter from 17 Nobel laureates: “Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures,” they said, addressing the inflationary concerns often cited by Republicans who oppose Biden’s agenda.”
CNBC: “Treasury Secretary Yellen says spending bills will be anti-inflationary, lowering important costs”
Meanwhile, Republicans are once again putting party over country, as they mislead Americans and root against our economic recovery to score political points.
Business Insider: “Republicans are ecstatic that Biden is struggling with inflation: ‘This is a gold mine for us’”
Sen. Rick Scott: “You can see what’s going to happen next. We’re going to continue to have inflation, and then interest rates will go up… This is a gold mine for us.”
CNN: “Republicans have turned that jump in inflation into a political talking point, trying to place the blame on President Joe Biden and Democrats, and at times misrepresenting the current economic landscape in the process.”
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