FOX BUSINESS Published June 8, 2023 6:56pm EDT
LARRY KUDLOW: Biden's op-ed on the economy is chock full of Pinocchios
Kudlow calls Biden's claims about the economy a 'gigantic cherry-picked exaggeration'
By Larry Kudlow FOXBusiness
Larry Kudlow: Biden hasn’t created any new jobs at all
FOX Business host Larry Kudlow says President Biden employs the ‘most anti-business economic policy ever.’
There he goes again, again! The "he" is President Joe Biden. At 1 pm today, the Wall Street Journal posted a new Biden op-ed piece on the economy, and it's chock-full of Pinocchios and other related untruths, as per usual.
The one I want to tackle, first and really foremost, is his assertion that, since he took office, our economy has somehow created more than 13 million jobs. This is a gigantic cherry-picked exaggeration. The vast bulk of those jobs were COVID replacement, not new jobs. That's point number one.
Point number two: If you look at the broadest measure of employment, which is total civilian employment, the household survey, adjusted for population changes, that number through May is 160.7 million jobs. Now, pre-pandemic in January 2020, that number was 159.6 million. So, actually, the household employment gain is a grand total of 1.1 million from the pre-COVID baseline, which means, in effect, Mr. Biden hadn't created any new jobs at all.
And the bulk of the replacement jobs, by-the-by, the largest share of them came during the second half of 2020 under Donald Trump. And the biggest unemployment decline also came under Donald Trump.
https://www.foxbusiness.com/media/larry-kudlow-bidens-op-ed-economy-chock-full-pinocchios
