{"id":1175743,"date":"2021-12-31T14:35:06","date_gmt":"2021-12-31T19:35:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1175743"},"modified":"2021-12-31T14:35:22","modified_gmt":"2021-12-31T19:35:22","slug":"alfredo-ortiz-bidens-year-end-whopper-on-the-economy-and-a-new-years-resolution-for-a-pro-small-business-congress","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/alfredo-ortiz-bidens-year-end-whopper-on-the-economy-and-a-new-years-resolution-for-a-pro-small-business-congress\/","title":{"rendered":"Alfredo Ortiz: Biden\u2019s Year-End Whopper on the Economy and a New Year\u2019s Resolution for a Pro-Small Business Congress"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Falfredo-ortiz-bidens-year-end-whopper-on-the-economy-and-a-new-years-resolution-for-a-pro-small-business-congress%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1175743&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">President Biden concluded 2021 the same way he started it, lying about his record. He&nbsp;<a href=\"https:\/\/twitter.com\/POTUS\/status\/1476311650424832000\">tweeted<\/a>&nbsp;Wednesday, \u201cWe\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years.\u201d Even Biden couldn\u2019t make this wild claim directly without the desperate appeal to authority from an unnamed \u201canalyst.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years.<\/p>\n<p>Let\u2019s keep the progress going.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1476311650424832000?ref_src=twsrc%5Etfw\">December 29, 2021<\/a><\/p>\n<\/blockquote>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>You don\u2019t need to be an analyst to recognize that this whopper should lay last-minute claim to \u201clie of the year\u201d in any of the lists made by far-left activist journalists masquerading as independent fact-checkers at seemingly every mainstream media outlet. In reality, the economy is stagnant, with Americans falling further behind due to Biden\u2019s bad policies.<\/p>\n<p>Here are some inconvenient truths that destroy Biden\u2019s argument: Inflation, as measured by the Consumer Price Index (CPI), is currently running at 6.8 percent, the fastest pace in 40 years. (As I argued in a recent&nbsp;<a href=\"https:\/\/www.washingtontimes.com\/news\/2021\/dec\/22\/bidens-inflation-may-be-even-worse-than-jimmy-cart\/\">op-ed<\/a>,&nbsp;when you conduct an apples-to-apples comparison of how inflation is measured now versus 40 years ago, today\u2019s inflation may actually match or even exceed President Carter levels.)&nbsp;The Producer Price Index (PPI), which measures the prices businesses pay for their inputs and is a forward indicator of the CPI, is increasing at a record 9.6 percent.<\/p>\n<p>This runaway inflation is placing an enormous burden on ordinary Americans, especially those on fixed incomes who see their cost of living increase every day. Inflation is significantly exceeding wage growth, resulting in a Biden pay cut of reduced real wages and lower living standards. Unsurprisingly, the mainstream media makes little-to-no mention of these shrinking paychecks, even though they are arguably the biggest issue affecting American wellbeing.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The country is also enduring a supply chain crisis of the likes we haven\u2019t seen in generations. As a result, some Americans couldn\u2019t get their Christmas presents on time. Small businesses&nbsp;<a href=\"https:\/\/www.nytimes.com\/2021\/08\/30\/business\/supply-chain-shortages.html\">can\u2019t access<\/a>&nbsp;needed inputs, weighing on their profitability. These third-world-style problems of runaway inflation and supply shortages are due to Biden\u2019s reckless spending and distortionary policies.<\/p>\n<p>Biden\u2019s biggest lie regarding his accomplishments comes when he talks about the labor market. He brags that he has created nearly six million jobs since he took office. But these are not new jobs. They are merely ones already created under President Trump that temporarily disappeared during the pandemic. By taking credit for the return of these jobs, Biden is committing the same logical flaw as President Obama, who claimed he was a jobs president by pointing to people returning to work after the Great Recession.<\/p>\n<div id=\"attachment_18995762\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/coughing-joe.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-18995762\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/coughing-joe.jpg\" alt=\"US President Joe Biden coughs as he talks to reporters about the November Jobs Report from the State Dining Room of the White House in Washington, DC, on December 3, 2021. - Biden said Friday that the United States&#039; employment recovery was &quot;very strong,&quot; despite disappointing November job creation data. &quot;America is back to work and our jobs recovery is going very strong. Today&#039;s historic drop in unemployment rate includes dramatic improvements for workers who have often seen... higher levels of unemployment,&quot; he said. (Photo by ANDREW CABALLERO-REYNOLDS \/ AFP) (Photo by ANDREW CABALLERO-REYNOLDS\/AFP via Getty Images)\" width=\"1920\" height=\"1440\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">President Joe Biden coughs as he talks to reporters about the November Jobs Report from the State Dining Room of the White House in Washington, DC, on December 3, 2021. (ANDREW CABALLERO-REYNOLDS\/AFP via Getty Images)<\/p>\n<\/div>\n<p>In reality, the labor market remains far below its pre-pandemic peak. There are still&nbsp;<a href=\"https:\/\/fred.stlouisfed.org\/series\/PAYEMS\">four<\/a>&nbsp;million fewer people working today and nearly&nbsp;<a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS15000000\">five<\/a>&nbsp;million more people out of the labor force compared to February 2020. After falling precipitously from 66 to 63 percent under Obama, the labor force participation rate (LFPR) actually rose under Trump before the pandemic hit \u2014 a remarkable achievement given its long-run decline. Today, the LFPR, including among&nbsp;<a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS11300060\">25- to 54-year-olds<\/a>, has gained back only about half of its pandemic-related decline. Nothing to celebrate.<\/p>\n<p>Making this labor market slack even more striking is the fact that America is enduring a historic labor shortage. There are a record&nbsp;<a href=\"https:\/\/www.bls.gov\/news.release\/jolts.nr0.htm\">11 million<\/a>&nbsp;unfilled jobs nationwide \u2014 suggesting that some Americans on the labor market sidelines are actively choosing not to work. Small businesses are desperate to hire; but due to the Biden administration\u2019s flawed policies, including increased social welfare programs like monthly child tax payments, many Americans are choosing not to work.<\/p>\n<p>To actually turn the economy into the one in the figment of Biden\u2019s imagination, Congress must support policies that help small businesses. That means telling small businesses once and for all that they won\u2019t face tax increases and new regulations, such as those proposed by the Build Back Broke legislation supported by Biden and Congressional Democrats.<\/p>\n<p>While the prospects for passage of the BBB are thankfully looking slim, ultimately, the only way to bring small businesses and the economy back is by electing pro-small business candidates in the mid-term elections this fall and flipping control of Congress. These small business backers can help enact tax cuts, deregulation, and fiscal sanity to set the stage for a repeat of the historic shared prosperity enjoyed from 2017 to 2019. That\u2019s a New Year\u2019s resolution that all Americans should support.<\/p>\n<p><em>Alfredo Ortiz is president and CEO of Job Creators Network.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden concluded 2021 the same way he started it, lying about his record. He\u00a0tweeted\u00a0Wednesday, \u201cWe\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record &#8230;<\/p>\n","protected":false},"author":319,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1175743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1175743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/319"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1175743"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1175743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1175743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1175743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1175743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}