{"id":1029842,"date":"2024-02-29T20:11:48","date_gmt":"2024-02-29T20:11:48","guid":{"rendered":"https:\/\/democrats.org\/?p=1029842"},"modified":"2024-05-15T20:45:28","modified_gmt":"2024-05-15T20:45:28","slug":"new-report-president-biden-continues-to-bring-down-costs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-president-biden-continues-to-bring-down-costs\/","title":{"rendered":"NEW REPORT: President Biden Continues To Bring Down Costs\u00a0"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to today\u2019s PCE report, which shows that inflation is down two-thirds from its peak and is at its lowest level in nearly three years, <\/em>DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cThis report makes clear that President Biden\u2019s economic agenda is making great progress on bringing costs down for working families. Thanks to Bidenomics, inflation is at the lowest level in nearly three years, wages are rising, and unemployment remains below four percent for the longest stretch in 50 years. The numbers speak for themselves \u2014 and while Trump wants to rig the economy for his ultra-wealthy friends, President Biden and Democrats are laser-focused on lowering costs and building the economy from the bottom up and the middle out.\u201d<\/p>\n\n\n\n

NEW: The latest PCE report shows that inflation is at its lowest level since early 2021. <\/strong><\/p>\n\n\n\n

@charliebilello<\/a>: \u201cMore evidence of a decline in US Inflation… The PCE Price Index moved down to 2.4% in January, its lowest level since February 2021. Cycle peak was 7% in June 2022.\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cA measure of inflation closely watched by the Federal Reserve continued to cool on an annual basis in January, the latest sign that price increases are coming back under control even as the economy continues to chug along.\u201d
<\/p>\n\n\n\n

Forbes<\/a>: \u201cKey Inflation Measure Falls To Lowest Rate Since Early 2021\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cThe Fed\u2019s favored inflation gauge eases to slowest pace in more than two years\u201d<\/strong><\/p>\n\n\n\n

President Biden\u2019s economic agenda continues to lower everyday costs and create jobs for hardworking families. <\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cThe first look at the 2024 labor market shows it’s on fire.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cFalling inflation, rising growth give U.S. the world\u2019s best recovery\u201d<\/strong><\/p>\n\n\n\n

Associated Press<\/a>: \u201cAmerican consumers feeling more confident than they have in two years\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cThe US economy added 353,000 jobs in January, starting off 2024 with a bang\u201d<\/strong><\/p>\n\n\n\n

Trump\u2019s MAGAnomics agenda ran the economy into the ground by handing tax breaks to the ultra-wealthy and big corporations, running up the deficit, and creating incentives for corporations to ship jobs overseas. <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump\u2019s Jobs Record Fell Short of Promises Even Before the Virus\u201d<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018\u201d<\/strong><\/p>\n\n\n\n

Washington Post Analysis<\/a>: \u201cOne of President Donald Trump\u2019s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch.<\/strong> The financial burden that he\u2019s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump\u2019s time in office.\u201d<\/p>\n\n\n\n

Brookings<\/a>: \u201cSo over the years of the Obama administration there was a gradual recovery in manufacturing jobs and hours worked. Trump managed to destroy that through his ill-advised tariff tantrums in a short two years and put manufacturing into a recession.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cAnother signature Trump policy, the trade war with China, actually hurt some of the manufacturers and farmers it was supposed to help.<\/strong> The Tax Foundation estimates if tariffs remain, 179,800 full-time equivalent jobs could be lost.\u201d<\/p>\n\n\n\n

And let\u2019s not forget that Trump is rooting for the U.S. economy to crash for his own political gain. <\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cAnd when there\u2019s a crash \u2014 I hope it\u2019s going to be during this next 12 months because I don\u2019t want to be Herbert Hoover. The one president I just don\u2019t want to be, Herbert Hoover.\u201d<\/p>\n\n\n\n

Daily Beast<\/a>: \u201cDonald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to today\u2019s PCE report, which shows that inflation is down two-thirds from its peak and is at its lowest level in nearly three years, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cThis report makes clear that President Biden\u2019s economic agenda is making great progress on bringing costs down for working […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1029842","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW REPORT: President Biden Continues To Bring Down Costs\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-report-president-biden-continues-to-bring-down-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-29T20:11:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-15T20:45:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-report-president-biden-continues-to-bring-down-costs\/\",\"url\":\"https:\/\/democrats.org\/news\/new-report-president-biden-continues-to-bring-down-costs\/\",\"name\":\"NEW REPORT: President Biden Continues To Bring Down Costs\u00a0 - 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