When the United States started coming out of lockdown in mid-2020, companies were fired up to get back to work. The economy (at least in red states) was surging in recovery as people returned to their day jobs and got back to normal life.
But when Joe Biden entered office, he sabotaged this recovery. He pushed a “stimulus” bill that flooded 1.9 trillion new dollars into the economy, lowering the value of the dollar. On top of that, he expanded unemployment, paying people not to go back to work. Then he crippled our energy sector, making the cost of transporting goods skyrocket.
Biden denied his role in damaging the economy and has tried to redefine “recession.” But now, he will have a hard time ignoring this.
The number of job openings in the United States fell sharply in June as the Federal Reserve hiked interest rates, gas prices hit record highs, inflation soared, and growth in consumer spending slowed.
There were 10.7 million postings for job openings on the last business day in June, the U.S. Bureau of Labor Statistics said Tuesday, down from an upwardly revised 11.3 million a month earlier.
Economists had been expecting 11.1 million jobs in the June report on the government’s Job Openings and Labor Turnover Survey, or JOLTS. The sharper than expected decline indicates that demand for labor has plunged faster than economists expected. [Source: Breitbart]
This is even more evidence Joe Biden got us into a recession. We’ve had two straight quarters of stagnation rather than growth. Now, in June, companies slashed job openings—signaling that they are looking to reduce their labor force.
What comes next can only be layoffs and force firings.
Cutting back job openings suggests businesses are losing money. Inflation has gotten so bad, that even rising prices on goods and services is not enough. Companies have to look for other ways to stay afloat. And, with news that Biden is going to raise taxes on corporations, they will have no choice but to reduce staff.
First, you slow down hiring. Next, you start firing your workers. This isn’t rocket science. You don’t need an Econ degree to see this.
Yet Biden continues to claim we have a “strong” economy. Based on what? The fact that the rich liberal elite isn’t being touched?
Biden’s policies have only benefited rich liberals and foreign businesses. Every time he hurts Americans, he makes other nations more competitive. Jobs will be outsourced at a rapid pace, as those that are still in America are taken by the steady stream of illegals Biden is shipping in through the border.
Only an idiot or a liar can deny this.
Author: Jim Stone