{"id":1925249,"date":"2023-05-05T20:41:09","date_gmt":"2023-05-06T00:41:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rep-bob-good-says-april-jobs-numbers-wont-fix-inflation-government-spending\/"},"modified":"2023-05-05T20:43:27","modified_gmt":"2023-05-06T00:43:27","slug":"rep-bob-good-says-april-jobs-numbers-wont-fix-inflation-government-spending","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rep-bob-good-says-april-jobs-numbers-wont-fix-inflation-government-spending\/","title":{"rendered":"Rep. Bob Good: April Jobs Won&#8217;t Solve Inflation, Spending."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><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%2Frep-bob-good-says-april-jobs-numbers-wont-fix-inflation-government-spending%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=1925249&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--><h2>Is the US Economy in Trouble?<\/h2>\n<h3>Congressman Bob Good (R-Va.) Sees Warning Signs<\/h3>\n<p>The US economy is continuing to add new jobs, but Congressman Bob Good (R-Va.) sees warning signs for the economy going forward. On Friday, the US Labor Department reported that the United States added 253,000 jobs in April, beating a 180,000-job forecast for the month. This comes at the same time the US Federal Reserve continues to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">raise interest rates<\/a> in hopes of slowing inflation.<\/p>\n<p>Raising the interest rate is meant to increase the cost of borrowing money in order to disincentivize demand. A drop in consumer demand typically helps to lower prices of goods and services.<\/p>\n<p>The strong April jobs report may be a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-education-nominee-ignored-sexual-assault-allegations-lawsuit-charges\/\" title=\"Biden Education Nominee Ignored Sexual Assault Allegations, Lawsuit Charges\">double-edged sword<\/a> as it indicates that the labor market is strong but that the Federal Reserve\u2019s monetary policies haven\u2019t done enough to stifle consumer demand in this inflationary economy. Good, who serves on the House Budget Committee, said that maintaining the Federal Reserve\u2019s current track with interest rates will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/eu-agrees-on-landmark-cryptocurrency-regulation\/\" title=\"EU Agrees on Landmark Cryptocurrency Regulation\">make life tougher<\/a> for US consumers.<\/p>\n<p><strong>\u201c[Federal Reserve Chair Jerome Powell\u2019s] policy of a five percent rise in interest rates over the past year is crushing the American people,\u201d<\/strong> Good told NTD News.<\/p>\n<p>While <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/secy-yellen-dismissed-concerns-of-double-digit-inflation\/\" title=\"Secy. Yellen dismissed concerns of double-digit inflation\">low interest rates<\/a> may lead to increased spending and inflation in the economy, inflation is also fed by increases in the supply of money in the economy. The Federal Reserve increased the money supply during the COVID-19 pandemic to help the government fund economic stimulus programs as they encouraged lockdowns.<\/p>\n<p><strong>\u201cHistorically, interest rates are increased, as you know, to try to slow a hot economy and to ward off potential inflation,\u201d<\/strong> Good added. <strong>\u201cIn this case we\u2019ve caused the inflation with the massive spending, we don\u2019t have a strong economy and yet [Powell is] crushing the American people.\u201d<\/strong><\/p>\n<p>Good argued that raising interest rates alone is not enough to address inflation and that Powell and Treasury Secretary Janet Yellen ought to more <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rep-bob-good-says-april-jobs-numbers-wont-fix-inflation-government-spending\/\" title=\"Rep. Bob Good: April Jobs Won't Solve Inflation, Spending.\">strongly oppose pricey legislation favored<\/a> by President Joe Biden.<\/p>\n<p><strong>\u201cJanet Yellen [is] equally derelict in her responsibility as Treasury Secretary,\u201d<\/strong> Good said. <strong>\u201cThey will not call out the administration, their boss, for the massive spending that\u2019s causing so many problems.\u201d<\/strong><\/p>\n<h3>The Debt Limit<\/h3>\n<p>Government spending has been an issue that has fed into another flashpoint between Democrats and Republicans\u2014the debate on the debt limit.<\/p>\n<p>The United States has been at its debt limit of about $31.4 trillion since January and is closing in on a potential default on a debt payment.<\/p>\n<p>The Biden administration has called for Congress to pass a so-called \u201cclean bill\u201d to increase the debt limit without setting any new conditions on government spending. Republicans, by contrast, have argued in favor of pairing any debt limit increase with budget reforms to slow the growth of the national debt.<\/p>\n<p>Last week, the Republican-controlled House passed a bill that allows the United States to add up to $1.5 trillion in additional debt until March 31, 2024, in exchange for spending cuts that R<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the U.S. economy is continuing to add new jobs, Congressman Bob Good (R-Va.) sees warning signs for the economy going forward. On Friday, the U.S. Labor Department reported that the United States added 253,000 jobs in April, beating a 180,000-job forecast for the month. This comes at the same time the U.S. Federal Reserve<\/p>\n","protected":false},"author":1759,"featured_media":1925250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[14460,9620,5461,5708,4330,7129,9822,3834,4324],"class_list":["post-1925249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-april","tag-bob","tag-good","tag-inflation","tag-jobs","tag-rep","tag-solve","tag-spending","tag-wont"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1925249","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\/1759"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1925249"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1925249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1925250"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1925249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1925249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1925249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}