{"id":1638148,"date":"2022-09-09T19:50:28","date_gmt":"2022-09-09T23:50:28","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1638148"},"modified":"2022-09-09T19:50:46","modified_gmt":"2022-09-09T23:50:46","slug":"white-house-releases-massive-document-detailing-bidens-economic-achievements","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-massive-document-detailing-bidens-economic-achievements\/","title":{"rendered":"White House Releases Massive Document Detailing Biden\u2019s Economic Achievements"},"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\">18<\/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%2Fwhite-house-releases-massive-document-detailing-bidens-economic-achievements%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=1638148&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>The <a href=\"http:\/\/dailywire.com\/topic\/biden-administration\" target=\"_blank\" rel=\"noopener\">White House<\/a> published a lengthy report on Friday discussing President Joe Biden\u2019s <a href=\"http:\/\/dailywire.com\/topic\/economy\" target=\"_blank\" rel=\"noopener\">economic<\/a> accomplishments.<\/p>\n<p>The 58-page \u201cBiden-Harris Economic Blueprint\u201d comes two months after the United States met the rule-of-thumb definition of a recession \u2014 two consecutive quarters of negative growth \u2014 as the economy <a href=\"https:\/\/www.dailywire.com\/news\/united-states-economy-shrinks-in-the-first-part-of-2022\">shrank<\/a> at a 1.6% annualized rate in the first quarter and <a href=\"https:\/\/www.dailywire.com\/news\/u-s-in-a-recession-after-second-straight-quarter-of-negative-growth\">contracted<\/a> at a 0.6% pace in the second quarter. The <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2022\/09\/Biden-Economic-Blueprint-Report-720PM-MASTER-DOC.pdf\">document<\/a>, however, outlines the administration\u2019s legislative victories and claims that they are responsible for a purported economic recovery.<\/p>\n<p>\u201cPresident Biden\u2019s agenda has contributed to the strongest and most equitable economic and labor market recovery in modern history, and catalyzed a resurgence in public investment that will help ensure a strong, innovative, clean energy future that is made in America,\u201d the report claimed. \u201cTogether with generational investments in infrastructure, clean energy, and advanced manufacturing, the Biden economic agenda has coupled historic job creation with a long-term strategy to ensure that good jobs of today and tomorrow are created in America.\u201d<\/p>\n<p>The report describes several tenets of the White House\u2019s economic agenda \u2014 including greater unionization, government childcare and health programs, and progressive tax policy \u2014 before claiming that such policies are responsible for the labor market and other relative bright spots in the economy. Reports nevertheless <a href=\"https:\/\/www.dailywire.com\/news\/biden-says-his-spending-agenda-took-america-from-an-economic-crisis-to-an-economic-recovery\">indicate<\/a> that the $1.9 trillion American Rescue Plan worsened <a href=\"https:\/\/www.dailywire.com\/news\/unemployment-rate-edges-upward-for-the-first-time-in-months-as-more-americans-return-to-work\">labor shortages<\/a> and contributed to other phenomena behind rising price levels.<\/p>\n<p>The document also pinned inflation and elevated gas prices on the Russian invasion of Ukraine. \u201cPresident Biden is committed to tackling these immediate challenges, without giving up the substantial economic and labor market gains our economy has achieved,\u201d the report said. \u201cAnd we are seeing significant progress on that front, with a decline of more than $1.20 in gas prices this summer and overall prices in the economy declining moderately in July.\u201d<\/p>\n<p>The report failed to mention, however, that the national average price of gasoline was $2.38 per gallon when Biden assumed office and <a href=\"https:\/\/www.dailywire.com\/news\/gas-prices-are-1-50-higher-since-biden-took-office-cnn-business-america-got-a-raise\">increased<\/a> to $3.53 per gallon by the start of the Russian invasion. Prices surpassed <a href=\"https:\/\/www.dailywire.com\/topic\/gas-prices\">$5.00 per gallon<\/a> in early June before subsiding to $3.74 per gallon as of Friday, according to <a href=\"https:\/\/gasprices.aaa.com\/\">data<\/a> from AAA.<\/p>\n<p>Indeed, top officials in the Biden administration have similarly deflected the notion that Biden is partially responsible for persisting economic bottlenecks. Treasury Secretary Janet Yellen, for example, contended in a Thursday <a href=\"https:\/\/www.dailywire.com\/news\/janet-yellen-we-have-experienced-one-of-the-quickest-economic-recoveries-in-our-modern-history\">speech<\/a> that the nation has witnessed \u201cone of the quickest economic recoveries in our modern history\u201d under Biden.<\/p>\n<p>\u201cOur plan has worked,\u201d she commented. \u201cThe United States experienced the fastest pace of job creation in our history. Household balance sheets are strong. Businesses continue to invest. Our broad and inclusive recovery has outpaced that of many other large economies. And measured by gross domestic income, our economy continues to expand and is operating above levels that would have been predicted pre-pandemic.\u201d<\/p>\n<p>Meanwhile, the personal saving rate \u2014 the share of disposable income Americans devote to savings \u2014 was a mere 5% in August, according to <a href=\"https:\/\/fred.stlouisfed.org\/series\/PSAVERT\">data<\/a> from the Bureau of Economic Analysis, reflecting a level significantly below the 7% or more Americans typically saved through much of the last decade.<\/p>\n<p>\u201cIt\u2019s fair to say: by any traditional metric, we have experienced one of the quickest economic recoveries in our modern history,\u201d Yellen added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The White House published a lengthy report on Friday discussing President Joe Biden\u2019s economic accomplishments. The 58-page \u201cBiden-Harris Economic Blueprint\u201d comes two months after the United States met the rule-of-thumb definition of a recession \u2014 two consecutive quarters of negative growth \u2014 as the economy shrank at a 1.6% annualized rate in the first quarter &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1224179,"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-1638148","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\/1638148","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1638148"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1638148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1224179"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1638148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1638148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1638148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}