Fact Check: Dems’ War on Work Raised Recession Risks & Held Back Returning to Work
When GOP states opted to end Democrats’ lavish unemployment benefits early, more Americans joined the workforce, according to a new study.
The St. Louis Fed found that had states across the country ended unemployment bonuses, employment would have increased by 1.6 million jobs – bolstering our economic recovery.
This report echos the findings of similar studies that confirmed Democrats held back our recovery by keeping workers disconnected from their jobs. Now, the U.S. is teetering toward recession, with the economy, paychecks, and labor force participation rate all shrinking.
READ: Study: Biden’s Unemployment Bonus Held Back Economic Recovery
Our Economy is Struggling.
- Today, American families’ view of the U.S. economy is now worse than it’s been in a decade.
- Over half of Americans believe the U.S. is already in a recession or depression.
- Despite evidence that Democrats’ $1.9 trillion so-called COVID stimulus neither stimulated the economy nor focused on crushing COVID, Democrats continue to push for policies in their next $5 trillion tax-and-spend bill that will shrink our economy and hike taxes on job creators and working families.
READ: Democrats Keep Threatening Crippling Tax Hikes
Main Street is Struggling Under Bidenflation.
- A majority of small businesses fear Bidenflation will close down their business.
- Another study showed that small business optimism is at record lows and recent polling from the Small Business and Entrepreneurship Council shows that only nine percent of small businesses say President Biden’s policies make it easy to start and grow a business.
- Small businesses are desperate for workers. There are nearly two job openings for every worker who is looking for work. The U.S. has now hit nine consecutive months of more than 10 million job openings.
- According to the recent Beige Book, the labor shortage spurred Bidenflation.
Democrats’ Crippling Tax Hikes Would Worsen Bidenflation and Destroy U.S. Jobs.
- Inflation is already 276 percent higher than predicted by Biden’s budget last year because of higher spending.
- Higher taxes will also result in higher prices for consumers. American families paid a $5,000 inflation tax in 2021 and view Washington spending as a big part of the problem.
- A study by the Tax Foundation found that President Biden’s tax hikes would destroy at least 138,000 U.S. jobs.
- While the White House continues to blame everyone but their own policies for fueling 40-year high inflation, even some moderate Democrats are warning that government spending sent prices soaring and Americans should brace for higher and longer inflation ahead.