On 7/28/2022, during the roundtable with CEOS on the Economy, President Joe Biden spoke about the trillions he spent in the Democrat-passed American Rescue Plan and reminded Americans suffering from inflation and high gas prices that he sent them a check for $8,000 in 2021. Biden complained that Americans forgot what he did for them in 2021, even as he admitted it was “totally understandable.” He pointed out that even for Americans making $120,00 a year, $8,000 dollars should have meant a lot to them. He said, “One of the things that I find is — I look at and I take it very seriously the confidence level of the American people in the economy. And they’re so down and they’re looking — there’s reason to be down, but I started thinking about it. And, Brian, you and I talked about it just a little bit. You know, the first year, we were able to, with the — with the Rescue Plan, we were able to send them a check for eight grand. I mean, a check. One — and beyond that, by the way; there was more than that.”
“But when you’re mak- — if you’re making 120 grand and you get a check for 8 grand, that’s a lot of money. And so it helped save a lot of people, in terms of getting thrown out of their homes and rental housing and a whole range of things. But I started thinking about it, just as, you know, somebody who’s raised as a middle-class kid. One year, even though you didn’t have the job you have now, even though you didn’t get a raise that year, the difference between having a job, having a 5 percent raise or whatever — 3,5,7, whatever it happens to be — in the face of inflation, the price at the pump — although that’s down every day so far. But, you know, it’s like, “Whoa, I feel worse off.” But then again, I didn’t get a check for eight grand from the government. They just — among other things. Does that make any sense to anybody, or is it just me?”
Sec. Yellen said, “Growth is slowing around the world. Inflation remains unacceptably high, and, of course, it’s your overriding objective, our administration’s top priority to bring it down. As you said, Mr. President, we’re at a transitional moment in our economy … economists should look holistically, I think, at data when we evaluate the state of the economy. And we can see, for example, from today’s GDP report, that growth and private demand has slowed. That does indicate an economy that is transitioning to more steady and sustainable growth. But job creation is continuing. Household finances — as we’ve discussed and Brian discussed, household finances remain robust. Consumers are spending. And I believe that in the months to come, with skill and luck, it will be possible to maintain that strength, particularly the strength we enjoy in the labor market, while easing the tightness that has been driving inflation.”
Joe Biden said, “Brian, I’m yielding to you. I’m going to shush up.” Brian said, “Yeah, we’re going to transition here and move the Press out.”
On 7/28/2022, during remarks by Joe Biden on the Inflation Reduction Act, he said, “the Inflation Reduction Act will add another $370 billion in clean energy tax credits in reconciliation, including incentives to accelerate domestic production of solar panels, wind turbines, batteries, and critical materials processing. That doesn’t sound like a recession to me.”
On 7/28/2022, Fox News reported that President Joe Biden met with 14 of his son Hunter’s business associates while he was vice president, during a segment on Fox News’ “America’s Newsroom” with Dana Perino and Bill Hemmer.
Biden Advisor Jared Bernstein said that it makes “Perfect Sense” 64% Of Americans think the US is in Recession.
https://facebook.com/HygoNewsUSA/videos/494664205756597/
Biden: If you make $120K, you receive Rescue Plan $8K check in 2021. Transition steady growth. Transition the Press out.