{"id":1030044,"date":"2024-03-12T18:32:35","date_gmt":"2024-03-12T18:32:35","guid":{"rendered":"https:\/\/democrats.org\/?p=1030044"},"modified":"2024-05-10T20:07:54","modified_gmt":"2024-05-10T20:07:54","slug":"president-bidens-agenda-is-lowering-costs-for-hardworking-families-as-trump-pushes-to-rig-the-economy-for-the-ultra-wealthy","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/president-bidens-agenda-is-lowering-costs-for-hardworking-families-as-trump-pushes-to-rig-the-economy-for-the-ultra-wealthy\/","title":{"rendered":"President Biden\u2019s Agenda Is Lowering Costs for Hardworking Families As Trump Pushes To Rig the Economy for the Ultra-Wealthy"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to today\u2019s CPI report, <\/em>DNC Rapid Response Director Alex Floyd released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cToday\u2019s CPI numbers show that President Biden\u2019s economic agenda is lowering costs for families thanks to his focus on putting hardworking Americans first. While Donald Trump is pushing tax handouts for the ultra-rich and doubling down on his schemes to slash hard-earned benefits for our seniors, President Biden is proposing a budget that would lower costs for working families, strengthen Social Security and Medicare, and make sure that billionaires and big corporations pay their fair share. Voters will reject Trump\u2019s failed MAGAnomics agenda again this November because they know President Biden is focused on growing our economy from the middle out while Trump tries to once again rig the economy for the ultra-wealthy.\u201d<\/p>\n\n\n\n

NEW: Inflation is down nearly two-thirds from its peak and annual core inflation is the lowest since May 2021 under President Biden\u2019s watch.<\/strong><\/p>\n\n\n\n

Steven Rattner, MSNBC<\/a>: \u201cFood inflation slowed in February, falling to 2.2%, the lowest rate since May 2021.\u201d<\/strong><\/p>\n\n\n\n

Heather Long, Washington Post<\/a>: \u201cWages are soaring above inflation again.<\/strong><\/p>\n\n\n\n

Average hourly wage growth in past year = 4.3%<\/p>\n\n\n\n

Inflation in past year: 3.2%<\/p>\n\n\n\n

Real wage growth above inflation in past yr = 1.1%\u201d <\/p>\n\n\n\n

Steven Rattner, MSNBC<\/a>: \u201cCore inflation is now at its lowest rate since May 2021.\u201d  <\/strong><\/p>\n\n\n\n

President Biden is driving down inflation while maintaining a historically strong job market.<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cU.S. economy adds 275,000 jobs in latest sign of robust labor market\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cEmployers added 275,000 jobs in February, the Labor Department reported Friday, in another month that exceeded expectations. \u2026 fresh evidence that four years after going into pandemic shutdowns, America\u2019s jobs engine still has plenty of steam.\u201d<\/strong><\/p>\n\n\n\n

Heather Long, Washington Post<\/a>: \u201cJUST IN: Another strong jobs report. The US economy added 275,000 jobs in February as the hiring boom continues. (Hiring was 229k in January and 290k in December.)<\/p>\n\n\n\n

Unemployment rate: 3.9% \u2014> It\u2019s been below 4% for two years<\/strong><\/p>\n\n\n\n

Wages: 4.3% in past year (above 3.1% inflation)\u201d<\/p>\n\n\n\n

It\u2019s the greatest comeback story never told: America has the world\u2019s best economic recovery under President Biden\u2019s watch.<\/strong><\/p>\n\n\n\n

Former Trump Economic Adviser Steve Moore<\/a>: “It is true that the United States today has the strongest economy. There is no question about it.”<\/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

\u201cSince 2020, the United States has powered through a once-in-a-century pandemic, the highest inflation in 40 years and fallout from two foreign wars. Now, after posting faster annual growth last year than in 2022, the U.S. economy is quashing fears of a recession while offering lessons for future crisis-fighting.\u201d<\/strong><\/p>\n\n\n\n

\u201cOn Friday, President Biden hailed fresh government data showing that annual inflation over the second half of 2023 fell back to the Federal Reserve\u2019s 2 percent target. Coupled with Thursday\u2019s news that the economy grew by 3.1 percent over the past 12 months, the Commerce Department report showed that the United States appears to have achieved an economic soft landing.\u201d<\/p>\n\n\n\n

Axios<\/a>: \u201cU.S. winning world economic war\u201d<\/strong><\/p>\n\n\n\n

\u201cThe United States economy<\/a> grew faster than any other large advanced economy last year \u2014 by a wide margin \u2014 and is on track to do so again in 2024.\u201d<\/p>\n\n\n\n

Forbes<\/a>: \u201cU.S. Economy Grew 2.5% Last Year, Defying Recession Calls\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201cUS growth shatters expectations, boosting Biden\u2019s economic pitch\u201d<\/strong><\/p>\n\n\n\n

While President Biden has helped create nearly 15 million new jobs, Donald Trump had the worst job record since Herbert Hoover \u2013 and growth had slowed even before the pandemic.<\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cPresident Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.\u201d<\/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

Bloomberg<\/a>: \u201cJob growth was slightly slower in Trump\u2019s first three years before Covid than it was during the last three years of the Obama administration, when the economy added 2.7 million jobs a year on average. Under Trump, that average was 2.2 million, until this year\u2019s tumult more than wiped out the gains.\u201d<\/p>\n\n\n\n

Trump\u2019s MAGAnomics agenda handed out large tax gifts to the ultra-wealthy, causing the middle class to pay more in taxes than billionaires for the first time in history.<\/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

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cThey were billed as a \u2018middle-class miracle\u2019 but according to a new book Donald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\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

Washington Post Analysis<\/a>: \u201cThe growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center.\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201cThe nation\u2019s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump\u2019s first term, Congress\u2019 nonpartisan budget scorekeeper projected Tuesday.\u201d<\/p>\n\n\n\n

Trump is now actively rooting for the U.S. economy to crash for his own political benefit.<\/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 CPI report, DNC Rapid Response Director Alex Floyd released the following statement: \u201cToday\u2019s CPI numbers show that President Biden\u2019s economic agenda is lowering costs for families thanks to his focus on putting hardworking Americans first. While Donald Trump is pushing tax handouts for the ultra-rich and doubling down on his schemes […]<\/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-1030044","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nPresident Biden\u2019s Agenda Is Lowering Costs for Hardworking Families As Trump Pushes To Rig the Economy for the Ultra-Wealthy - 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\/president-bidens-agenda-is-lowering-costs-for-hardworking-families-as-trump-pushes-to-rig-the-economy-for-the-ultra-wealthy\/\" \/>\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=\"2024-03-12T18:32:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T20:07:54+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=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/president-bidens-agenda-is-lowering-costs-for-hardworking-families-as-trump-pushes-to-rig-the-economy-for-the-ultra-wealthy\/\",\"url\":\"https:\/\/democrats.org\/news\/president-bidens-agenda-is-lowering-costs-for-hardworking-families-as-trump-pushes-to-rig-the-economy-for-the-ultra-wealthy\/\",\"name\":\"President Biden\u2019s Agenda Is Lowering Costs for Hardworking Families As Trump Pushes To Rig the Economy for the Ultra-Wealthy - 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