After a jobs report that showed only 6,000 private sector jobs created in the month of January, President Joe Biden said it could take 10 years to get to full employment.
“At that rate, it’s going to take ten years to get back to full employment,” Biden said. “That’s not hyperbole, that’s a fact.” Biden used the bleak assessment to justify the need to pass his $1.9 trillion coronavirus relief proposal, which extends unemployment benefits and gives everyone $1400 checks.
“People are really feeling the hole; they don’t know how to get out. You’ve given them a lot of hope,” Biden said, addressing Senate Democrats who are in the process of passing the bill using budget reconciliation and bypassing the filibuster.
“We can fix it. We can fix it,” he said. “And the irony of all ironies is, when we help them we are also helping our competitive capacity for the remainder of this decade.”
Except that taking on another $2 trillion in debt makes us anything but competitive and will only prolong the return to low unemployment. But Biden and the Democrats don’t care; giving people free stuff is good for getting votes and that’s all they really care about.
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