One of the biggest lies of all from the Democrats and the media is that Biden-Harris inherited an economic disaster—but in reality, they inherited a soaring economy.

Another lie we are told is how much better Biden-Harris policies have been for minorities and manufacturing, but facts are stubborn things. 

The following are a set of facts from the Bureau of Labor Statistics from February of 2020, three years into Trump’s term and before COVID, and for August 2024, three years and seven months into the Biden-Harris term.

Teenage unemployment

Feb. ‘20: 11.4%

Aug. ‘24: 14.1%

Black unemployment

Feb. ‘20: 6.1%

Aug. ‘24: 6.1%

Hispanic Unemployment

Feb. ‘20: 4.3%

Aug. ‘24: 5.5%

Less than H.S. Unemployment

Feb. ‘20: 5.7%

Aug. ‘24: 7.1%

H.S. Graduate Unemployment

Feb. ‘20: 3.7%

Aug. ‘24: 4.0%

Trump’s policies were lifting all boats. Poverty hit record lows at the end of 2019, and real wages were rising rapidly, especially for those at the bottom—the people about whom Democrats only pretend to care.

None of these unemployment statistics support the narrative that the green energy kickbacks or any other government program of Biden-Harris have helped the working class. Here’s more, on jobs.

Manufacturing jobs in Feb. ‘20 were 12.8 million; in Aug. ‘24 that number was 12.9 million. Is 100,000 more jobs over four years really be something to brag about?

Government jobs in Feb. ‘20 were at 22.8 million, and in Aug. ‘24 they reached 23.3 million. Are 500,000 more bureaucrats necessary? They certainly are more costly, and they are all paid for with borrowed money.

Part-time jobs in Feb. ‘20 totaled 4.4 million, and in Aug. ‘24 reached 4.8 million.

Labor force participation rate? Feb. ‘20: 63.3 million and Aug. ‘24: 62.7 million

Not in the labor force-? Again, Feb. ‘20 was 95.2 million while Aug. ‘24, was 100.3 million. Why have 5.1 million more people dropped out of the labor force when consumer debt is up drastically, and people can’t afford the high inflation? Is it because the job market isn’t as good as they say? Is it because illegals are stealing so many jobs?

Credit card debt was $770 billion when Biden took over and today it is $372 billion higher, or up around 50%. Does that indicate that people are doing better? Inflation is killing the poor and middle class. Here’s this, from the Federal Reserve Bank of St. Louis:

It is worth noting that delinquency in the populations we examined showed an increase for the last eight to 11 quarters. Although widespread, the increase is more notable in the poorest ZIP codes, where delinquency grew from 11% in the second quarter of 2021 to 17.4% in the first quarter of 2024—58% in relative terms. Furthermore, in the first quarter of 2024, the U.S., Eighth District and poorest 10% of ZIP codes were at 94.8%, 93.7% and 93.6% of their peaks, respectively, for the period we examined.

Here is what data manipulation (fraud) looks like, care of the government. When statistics don’t look as good as they want, they just change the assumptions. Facts are irrelevant. Income was revised upward because the government thinks there was more dividend and interest income… and people are supposedly $500 billion richer because of what bureaucrats think!

Mystery Of Upward GDP Revision Solved: You Are All $500 Billion Richer Now According to A Revised Biden Admin Spreadsheet

First, as shown in the chart below, personal income was unexpectedly revised about $800 billion higher, as a result of not just an increase in what the government believes was interest and dividend income, but also government handouts (i.e., personal current transfer receipts rising by over $200 billion) and also a $293 billion cumulative increase in wages and salaries. In total, Disposable personal income was revised from just under $21 trillion (annualized) to $21.8 trillion.

[snip]

You see, when subtracting the revised personal spending from the revised personal income, what you get is the revised savings of US consumers, which as of today's deus ex revision has almost doubled, rising from $600 billion in July to $1.1 trillion in August!

Yes, dear Americans, rejoice for a spreadsheet revision means  you are all now half a trillion bucks richer!

There is no way that inflation for the poor and middle class is down to below 3% as they claim; they simply say that to use these numbers to limit cost-of-living raises to those who are dependent on social security and disability.

Why would anyone trust what the government tells us about the economy? They pretend we are worth more—they overestimate jobs by 881,000 in one year, they always underestimate the cost of new spending programs, and underestimate revenue after tax rate cuts. The mistakes all favor bigger government. It must be intentional.

Image: Free image, Pixabay license.