NOT TO WORRY! JOE'S GOT 20 MILLION MORE ILLEGALS WAITING FOR MORE!
BILLARY CLINTON N.A.F.T.A. DEMS HAVE ORCHESTRATED THE GREATEST TRANSFER OF WEALTH TO THE RICH IN MODERN AMERICAN HISTORY
Joe Biden and other Democrats have spent the last four years repeating the mantra “no one is above the law.” Yet Biden has advocated policies that would, as the San Francisco Chronicle recently noted, effectively make the United States a sanctuary country.
THE REAL AMERICA:
Report: California Sees Surge in Number of Homeless Women
The number of people applying for unemployment benefits rose by 2,000 to 205,000 in the week that ended December 16.
This is still a very low figure, indicating that the labor market remains robust. Economists had forecast initial jobless claims would climb to 215,000.
The number of people collecting unemployment benefits after an initial week was close to unchanged at 1.87 million. Continuing claims have risen from the 1.3 million or so low hit last year and currently are around where they were before the pandemic.
Claims fell in 39 states and territories and rose in 14. The highest rates of people collecting unemployment benefits are in New Jersey, Alaska, and California.
Biden Scolds Media Coverage of Economy: ‘Start Reporting It the Right Way’
There was no Christmas cheer from President Joe Biden on Saturday as he demanded media outlets begin reporting on the economy “the right way” as he headed for his holiday break.
In passing remarks delivered before boarding the presidential helicopter, Biden backed the economy and ripped naysayers for the way it has been portrayed as something less than stellar on his watch.
“All good. Take a look. Start reporting it the right way,” Biden said when asked about his economic outlook for 2024, according to a transcript released Sunday by the White House.
Biden’s standing with voters has struggled through 2023 with the economy under his leadership being a prime point of concern.
Critics argue wages haven’t kept up with inflation and that gas and grocery prices have a huge impact on how people feel.
As Breitbart News reported, a majority of voters disapprove of Biden’s sluggish economy based on some of those metrics, the top issue heading into the 2024 presidential election, a Quinnipiac University poll found last month.
The poll’s findings highlight Biden’s greatest vulnerability upon a likely challenge from former President Donald Trump. Under the Trump administration, the economy soared to the greatest heights in American history, critics of Biden say.
The poll found Biden’s economy is the number one issue for voters, outranking climate change, abortion, and “preserving democracy”:
- Economy: 28 percent
- Preserving democracy: 17 percent
- Immigration: 12 percent
- Crime/Gun violence: 12 percent
- Climate change: Five percent
- Abortion: Three percent
Adding to Biden’s woes, a majority of Americans live paycheck to paycheck in his America, a recent LendingClub study found, raising concerns so-called “Bidenomics” failed to lift all Americans.
The high number of Americans struggling to make ends meet appears to confirm polling that shows only 14 percent of voters believe Biden’s economic policies have helped them, while 85 percent think they have either hurt them or made no difference, as Breitbart News reported.
Follow Simon Kent on Twitter: Follow @SunSimonKent or e-mail to: skent@breitbart.com
Leading Economic Indicators Point to Looming Recession
A closely watched measure of forward-looking economic data fell again in November—a warning sign that the economy could slump next year.
The Conference Board said its Leading Economic Index (LEI) fell 0.5 percent last month, following a one percent decline in October.
The LEI declined by 3.5 percent over the six-month period between May and November 2023, a slower pace of contraction than recorded in the previous six months.
“The US LEI continued declining in November, with stock prices making virtually the only positive contribution to the index in the month,” said the Conference Board’s Justyna Zabinska-La Monica. “Housing and labor market indicators weakened in November, reflecting warning areas for the economy.”
The Conference Board said it expects a shallow recession in the first half of 2024.
While the leading indicators continue to indicate weakness, the Conference Board’s measure of current indicators strengthened. All four of the major components—payroll employment, personal income less transfer payments, manufacturing and trade sales, and industrial production— of the Current Economic Index (CEI) were positive in November.
Over the past six months, the CEI has increased one percent, better than the 0.7 growth in the previous six months.
White House: The Economy Is Better, But Home ‘Affordability Challenge Is Very Great’
On Wednesday’s broadcast of “CNN This Morning,” White House National Economic Council Director Lael Brainard argued that the economy is better off than it was before, but home affordability challenges are still “very great,” and that people are also upset about healthcare costs and junk fees.
After Brainard stated that the economy is better off than it was a year ago, two years ago, and three years ago, co-host Poppy Harlow asked about people who feel Bidenomics isn’t working, especially on housing prices. Brainard responded, “We are very focused on a few areas where affordability is still a challenge for many families. Housing is one of those areas where people who already have homes — and that percentage has actually increased a great deal over the last few years — they are feeling pretty good. But people who are not able yet to purchase homes, looking at high mortgage rates is a real challenge. We’ve seen the mortgage rate come down by about 1.5 percentage points just in recent weeks, but even so, the affordability challenge is very great, and, as you said, on the most affordable housing, we have a real supply shortfall. And so, the president is going to keep pushing for a set of policies that would go a long way in creating a much more affordable home supply through low-income housing tax credits, affordable tax credits, and down payment assistance.”
Later, Harlow asked about poor economic polling data, Brainard responded that people went through a lot, things have improved, but “I think it takes a while, and it’s also that there are a few areas that Americans are worried are not as affordable. If you look at health care in particular, two to three times more expensive on prescription drugs than other countries. That’s just not right. And that’s why we’re fighting so hard to get prescription drug prices down, whether it be insulin for seniors at $35 a month, down from $400. We’re capping out-of-pocket costs for seniors at $2,000 per year. We’ve got to chip away at some of these areas where Americans feel it’s just not right or that they’re tired of being ripped off like in the area of junk fees, where we’re fighting really hard to get rid of overdraft fees and bounced check fees, baggage fees, seating fees, all of those things add up.”
Follow Ian Hanchett on Twitter @IanHanchett
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