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American Thinker
17 Aug 2024
Jack Hellner
The media fact-checks President Trump and calls him a liar if he overstates crowd sizes or correctly says that Kamala Harris was the border czar, but not once have they called out the Democrats for their continuous lies that they inherited a disastrous economy from Trump and that their policies turned it around.
Here, Democrat Sen. Chris Coons of Biden's home state of Delaware says the problem with the economy is that we have had a slow post-COVID recovery.
On Wednesday’s “CNN News Central,” Harris-Walz Campaign Co-Chair Sen. Chris Coons (D-DE) stated that inflation “resulted from our recovery” from the pandemic, a recovery that has been “slow and long and difficult” and the inflation isn’t the fault of 2024 Democratic presidential candidate Vice President Kamala Harris.
If that is true, Biden's and Harris's policies are the cause, because the economy was soaring when they took over from Trump.
A massive number of jobs were lost in March and April 2020 because of COVID from China. The recession was the shortest on record and jobs started to come back quickly starting in May because mostly Republican states started opening schools and businesses.
In April 2020, non farm payroll jobs were down to 130.2 million.
By December of 2020, before Biden took office, they were back up to 143.6 million. In other words, they were up an average 1.67 million jobs per month. They would have been coming back much faster if California, New York, Illinois, Minnesota, and other Democrat states hadn't kept so many businesses on lockdown because of things Dr. Anthony Fauci falsely claimed were based on science.
These Democrat governors also didn't want Trump to win the election, so they didn't want the jobs to come back quickly or else Trump would get credit.
Remember how many states refused to abide by election laws because of COVID?
These governors supported violent rioters but told people that it was dangerous to vote in person. It is obvious that it is much easier to cheat by mail or with drop boxes than when voting in person.
Another lie Biden continually tells is that jobs have grown faster under him than any previous president.
Let's look at the data on that:
While 13.4 million jobs came back under Trump in eight months, it took Biden another 30 months to recover or create another 13.2 million jobs or almost four times as long.
Obama, Biden, and other Democrats have experience with policies that result in a slow economic recovery. The Obama, and Harris-Biden years yielded the slowest economic recovery in seventy years.
According to CNN of all sources:
Yes, this is the slowest U.S. recovery since WWII
The U.S. economy has only grown 2% a year since it bottomed out in June 2009. That's far below the typical growth in rosy times of over 4% a year that the U.S. has experienced since World War II. It's even below the rather sluggish rebound during President George W. Bush's tenure of 2.7%.
Another lie that continues to this day is that President Obama and Joe Biden inherited a disastrous economy in 2009 and their policies turned it around.
They did inherit a disastrous economy but the recovery began in June 2009 before their policies had any effect.
Three things basically turned the economy around from the economic collapse of 2008.
The first was President George W. Bush opening up drilling. The price of oil reached a record $4.11 in July 2008 and was destroying the purchasing power of people, especially the poor and middle class, just like high energy prices destroy people's purchasing power today. Reasonably priced energy makes economies thrive.
Reuters and others described the Bush move as symbolic because they don't understand how global markets work, assuming that oil would take years to produce and thus not affect prices until then. But markets are forward-looking and if oil traders and OPEC believe the U.S will be a major competitor, they will react immediately.
This symbolic move caused the price of gas to fall to $1.79 by the time Obama took office. This lower price gave consumers a massive cash infusion and the U.S is a consumer-driven economy.
The second pillar that allowed the economy to turn around was the Troubled Asset Relief Program (TARP) where the Federal government essentially made loans (not handouts) to troubled financial and other entities. From 2008 to 2010, they sent $426.4 billion to firms and recouped $441.7 billion. There was no additional debt or printed money so this program did not cause inflation.
The third pillar was the Federal Reserve massively dropping interest rates. Throughout 2008, the Fed funds rate was cut from 4.5% to zero.
All of these things occurred before Obama and Biden took office, so it is dishonest for them to take credit for bringing the country out of the deep recession.
One of Obama's biggest claims to fame was passing the Affordable Care Act. (ACA) They repeatedly lied to the American people that they would be allowed to keep their doctor, keep their plan and premiums would go down substantially to get it passed. Only Democrats voted for the ACA. People who opposed the policy were called racists and were accused of not wanting people to get health care.
Instead, premiums skyrocketed as critics had predicted.
In 2009, the average single premium was $92.43 per month. Today it is $703 per month or up over 660% in 15 years.
In 2009 the average family premium was $349 per month and today it is $1,997 per month or up 472%
Here is the ugly reality straight from the Bureau of Labor Statistics:
The cost to employees for health insurance has increased as well. The average flat-rate premium paid by private industry workers increased from $67.57 per month for single coverage in 2004 to $92.43 per month for single coverage in 2009, and from $264.59 per month for family coverage in 2004 to $349.36 per month for family coverage in 2009.
There also was this, from CNN of all places:
Individuals enrolled in group health plans paid an average annual premium of $8,435 in 2023 (about $703 per month), according to data from independent health and medical research firm KFF. For families, the total annual premium averaged at $23,968 — or about $1,997 per month.
Think how much lower overall inflation would be without these skyrocketing rates and how much people could spend on other stuff.
Why does most of the media and other Democrats continue to mislead (lie to) the American people that the ACA makes insurance affordable?
Conclusion: Democrats will lie and cheat continuously to maintain power with the help of a complicit media.
Image: Gaslight, by Monica Showalter, detail, oil on canvas