Brady: Economy Is Shrinking, Inflation Raging, and Job Growth Slowing
Ways and Means Republican Leader Rep. Kevin Brady (R-TX) released the following statement on the September jobs report from the Bureau of Labor Statistics:
“The September jobs report is more proof that President Biden’s economy is a cruel one for most Americans. The economy is shrinking, inflation is raging, and job growth is slowing. Worse, the President is in denial that America is experiencing a dangerous wage-price spiral that will drive high inflation for years, that we are in stagflation, and that we are either in, or on the verge of, a harsh recession — all that he created by bungling the recovery.
“More workers dropped out of the labor force, and a new report from the Dallas Federal Reserve shows President Biden delivered the steepest pay cut in 25 years for many workers — equal to a month of their wages. No wonder so many Americans have lost faith in President Biden’s competence to heal the economy.
“While Republicans in our Commitment to America have pledged an economy that is strong, the White House and congressional Democrats — who have repeatedly boasted about this cruel economy — are promising more of the same.”