On 6/3/2022, Joe Biden delivered remarks on the May jobs report from Rehoboth Beach, Delaware. He said that we have the best economy ever under my leadership, and any problems need to blame Putin price hike, Putin’s fault, Trump’s fault. He muttered through his remarks and absurdly claimed there has been enormous progress made on the economy. He attacked Trump and refused to take responsibility for high inflation rates.
President Joe Biden dismissed Tesla CEO Elon Musk after he said he has a “super bad feeling” about the U.S. economy and is considering laying off 10% of his workers. “Lots of luck on his trip to the moon,” Biden quipped about the SpaceX boss. Musk said in an e-mail to Tesla Inc. executives that he has a “super bad feeling” about the US economy and wants to cut 10% of the carmaker’s workforce, according to a Reuters report. Asked about it, Biden touted announcements by companies who’ve pledged to expand their operations and hire staff. “While Elon Musk is talking about that, Ford is increasing their investment overwhelmingly” in building electric vehicles with union employees, Biden said. He cited other investments, including by Intel Corp., to rebuff Musk’s warnings on the economy.
“So, you know — lots of luck on his trip to the moon,” Biden said. Musk swiftly replied on Twitter, the social media platform he’s seeking to purchase. “Thanks Mr. President!,” he wrote, with a link to a NASA statement about its deal with Musk-run SpaceX to go to the moon.
Friday’s Non-Farm Payroll report from the Bureau of Labor and Statistics (BLS) showed better initial numbers than expected for May but continues a trend of slower recovery for the U.S. economy in a season of record-high inflation. The report was expected to show that 350,000 jobs were added last month, with an unemployment rate of 3.5%. The numbers were expected to be a minimum of 25% reduction behind April’s job growth. Friday’s report from BLS showed that the U.S. economy added 390,000 jobs in May, which is roughly a 10% reduction from the month prior.
Biden said, “My plans have produced the strongest, fastest, most widespread economic recovery America has ever experienced, with record jobs, a new record of small businesses, and wages rising. ” “as we move to a new period of stable, steady growth, we should expect to see more moderation. We aren’t likely to see the kind of blockbuster job reports month after month like we had over this past year, but that’s a good thing. That’s a sign of a healthy economy with steady growth, rising wages for working families, everyday costs easing up, and shrinking the deficit.” Biden Labor Secretary Walsh admits real wages declined “wage growth didn’t really grow”. Economist Tyler Goodspeed “real wages continue to decline.”
Biden said, “American manufacturing is booming: 600,000 new manufacturing jobs created since I took office.” CNBC said, “canaries in the coal mine” warning about the economy, American consumers and 1.8M people were unable to work last month because their employer closed or lost business
Real wages continue to decline and families have an average of $9,000 less savings, yet Joe Biden said to the American people “savings are up.” “But it isn’t only about jobs. Since I took office, families are carrying less debt; their average savings are up. A recent survey from the Federal Reserve found that more Americans feel financially comfortable than at any time since the survey began in 2013.”
Biden said, “This is the “Putin price hike … has raised the price of food because Ukraine and Russia are two of the world’s major breadbaskets for wheat and corn — the basic product for so many foods around the world. ” Economist Tyler Goodspeed “steps [Biden] could be taking” on energy prices, “not seeing…that”.
Brutal CNN panel describes how Biden can’t even schedule a townhall “same meetings…nothing changes”.
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Biden to Elon Musk: Lots of luck to the moon. Biden best economy ever, but Real Wages declined, blame Putin Trump.