The U.S. economy is in trouble. Last month’s jobs report was not good; meanwhile, employers across the nation are having trouble with finding and hiring workers. “Help wanted” signs are plastered in different businesses throughout America; yet, business owners are still reporting labor shortages.
Biden’s answer to all this is more spending; however, many people understand at this point that throwing money at the issue is not the answer. In fact, that is precisely what’s hindering economic growth at this point.
According to Newsmax, a leading economist warns that President Biden’s handouts are interfering with the recovery of the U.S. workforce.
Biden vs. the U.S. Workforce
On Sunday, economist Steve Moore discussed with The Cats Roundtable the current state of America’s workforce. Moore explained that the current jobless benefits are actually sabotaging the effort to get people back to work again. At the current rate, working is “not a good deal” for Americans who are earning more by collecting unemployment benefits.
— John Catsimatidis (@JCats2013) May 9, 2021
Moore then made clear what his advice would be to President Biden. This advice would entail ending supplemental jobless assistance and standing down on tax increases. Furthermore, the economist explained that economic healing is happening on its own without government handouts and higher taxes.
Before Moore wrapped up his interview with The Cats Roundtable, he described higher taxes as a “wet blanket” on the American workforce.
A President in Denial
This past weekend is not the first time that Americans have sounded the alarm about jobless benefits interfering with folks getting back to work. In fact, when Biden conversed with reporters on Friday, he was asked about his thoughts on this matter.
Per Biden’s own admission, he believes that “nothing measurable” exists between the rise in unemployment benefits and Americans not working.
Americans are paying a hidden tax for Biden’s $1.9 trillion wish list.
“Higher prices, limited hours, and fewer services.”pic.twitter.com/7y6gytYrLs
— Ronna McDaniel (@GOPChairwoman) May 9, 2021
Economists like Moore beg to differ; the same situation applies to business owners struggling to hire workers and overcome labor shortages. Paying folks to stay home and steer clear of looking for employment doesn’t benefit the U.S. economy; it only crushes businesses and heightens individuals’ reliance upon the government.
What’s worse is that as Biden hampers economic development with handouts, he plans to deal another blow to the workforce via higher taxes.
Do you believe the current president is interfering with the recovery of the U.S. workforce? Let us know your thoughts about the economy down below in the section for comments.