Inflation Will Continue Unless President Biden Addresses Ongoing Worker Shortage
Small businesses are still struggling with 5.5 million more job openings than job seekers after President Biden and congressional Democrats discouraged work, according to the latest Bureau of Labor Statistics Job Opening and Labor Turnover (JOLTS) Survey. That is the equivalent of almost two job openings for every job seeker. Openings declined in April after hitting record-highs last month, but remain extraordinarily high.
Republican Leader of the Ways and Means Committee Rep. Kevin Brady (R-TX) warned in a recent interview that reconnecting workers with jobs is critical to addressing inflation, but we’ve seen no real solutions from President Biden:
“When you don’t have the workers to man the production lines, assemble the products, deliver them, or service them, you’re going to see higher prices continue for the long term.”
President Biden Bungled the Economy:
- Democrats’ $2 trillion so-called “Covid Stimulus” discouraged work, fueled the labor shortage, shrunk the economy, and sent inflation soaring, a recent report by the Congressional Budget Office (CBO) confirms.
Democrats’ Denial Worsened the Worker Shortage and Sent Inflation Higher:
- The Federal Reserve and President Biden have taken too long to address inflation – dismissing it as “transitory,” claiming inflation peaked, and passing the blame everywhere but their own policies.
American Families and Small Businesses are Struggling:
- Over 70 percent of Americans feel the economy is “bad” after paying higher costs for nearly all goods and services. Small business optimism reached record lows last month too, according to recent polling.
President Biden Has No Plan to Address Inflation, and Tax Hikes Will Make it Even Worse:
- The President’s “Build Back Better” agenda will only make inflation worse, slow the economy, worsen the debt, kill U.S. jobs, and cut workers’ paychecks.
- Even Mark Zandi, the White House’s preferred economic forecaster, says the Build Back Better bill will worsen inflation: “None of these ideas so far will help to a meaningful degree, and could do some harm because they could juice up demand at a time supply is constrained by the pandemic and worsen inflation.”
READ: ONE PAGER: If Fighting Inflation is Dems’ Top Priority, Why Won’t They Work With GOP?