Recent headlines in numerous publications claim the U.S. economy is set for rapid expansion and a “post Covid boom” thanks to Joe Biden’s economic plans. However, contradicting reports identify certain struggling elements, such as the supply chain, which have been ravaged by bureaucratic mandates, and suggest a bleaker circumstance entirely.
Biden Administration Scrambles After a Gloomy Jobs Report
According to George Pearkes, Business Insider’s financial columnist, the American economy is set to see a “post-Covid boom”, because the U.S. “learned from 2008’s mistakes.” Despite his optimism, and that of several mainstream news journalists, hard data shows the U.S. economy is in a struggling position.
The most recently published Bureau of Labor Statistics jobs report showed a lackluster 266,000 jobs, a quarter of that expected, added in April. These figures are not in line with the expectations of the Biden administration, and…