Whoops! Democrat/Biden Economy Isn’t Exactly Delivering as Predicted

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Surge Summary: April’s job report grievously missed the mark – and Democrat’s “COVID relief” giveaway plus Joe Biden’s proposed tax hikes likely go a long way toward explaining the shortfall. This really shouldn’t surprise anyone who understands how business, hiring and government policy work.

by Gary Bauer

So, we got the April jobs report this morning.  Economists were expecting at least one million new jobs as more states are relaxing COVID restrictions and more businesses reopen.  Some financial experts boldly predicted that as many as two million new jobs were created last month.

It was a total miss.  Just 266,000 new jobs were created in April, and the unemployment rate went up.  But there’s more.  March’s numbers were revised downward by 146,000 fewer jobs.

What’s going on?  Well, as many conservatives and business owners warned, it seems that the extra unemployment benefits Democrats stuffed into the latest COVID relief bill are keeping many potential workers on the sidelines.  Why work when you can get paid almost as much or perhaps even more to stay home?

Here’s something else to consider: Many businesses are bracing for Biden’s tax hikes and likely tapping the brakes on hiring.  It’s only logical that businesses would hesitate to take on additional employees (expenses) now if they expect their taxes (costs) are about to go up.

None of this should surprise anyone.  The Obama/Biden malaise wasn’t that long ago.

The views here are those of the author and not necessarily Daily Surge

Originally posted here.

Image: https://creativecommons.org/licenses/by/2.0/; Adapted from: Kevin Smith; https://www.flickr.com/photos/145362372@N03/46049068851

Gary Lee Bauer is an American politician and activist, who served in the Reagan administration. He later became president of the Family Research Council and a senior vice president of Focus on the Family. In 2000, he participated in the Republican presidential contest.

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