U.S. House of Representatives Committee on Ways and Means
07/21/2021 | Press release | Distributed by Public on 07/21/2021 08:12
Brady: How Biden Failed His Six-Month Economic Report Card
Brady: How Biden Failed His Six-Month Economic Report Card
Yahoo Interview: Wages shrinking, fewer new jobs, slower economic growth
July 21, 2021 - Blog - In Case You Missed It... - Press Releases - Select Revenue Measures - Worker and Family Support
WASHINGTON, D.C. - Top Republican on the House Ways and Means Committee Rep. Kevin Brady (R-TX) joined Yahoo Finance to discuss President Biden's failing economic record from the first six months in office.
CLICK HERE to watch the full interview.
CLICK HERE for a one-pager on Biden's economic report card.
KEY TAKEAWAYS:
President Biden is cooling down our jobs recovery.
Rep. Brady said:
'Right now, job growth is slowing. There were 1.4 million fewer jobs in the first half of this year than the last half of 2020.'
'These tax increases that ultimately land on small businesses, families, local investors, overall will drive U.S. jobs overseas in a significant way. That, and the attack on American-made energy are unforced economic errors that are slowing this economy down in a significant way.'
READ: At 6 Months, Biden Fails His Economic Report Card
Despite all the advantages of trillions of COVID stimulus, reopening communities, and lifesaving vaccines economic growth is slowing down.
Rep. Brady said:
'Economic growth is slowing down. New CBO projections show about 30 percent slower economic growth after we get through this sugar high.
'Economic optimism is down; real wages are down and have been every month this year. The only thing seemingly going up are rising prices.'
READ: CBO Shows Bidenflation Surges Over Forecasts as Experts Sound Alarms
President Biden's massive government spending is causing prices to rise and have earned him an 'F' on his economic report card.
Rep. Brady said:
'You're seeing this inflation driven by massive government spending and the President paying people more to stay home than to work. For that reason, at this six-month point, on this economic report card, we would give him an inflation-adjusted 'F''.
READ: With Bidenflation on the Rise, American Families are Falling Behind