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Thursday, November 7, 2024

Republican leaders criticize 'Bidenomics' following revised job data

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Virginia Foxx - Chairwoman of the Education and the Workforce committee | Official U.S. House headshot

Virginia Foxx - Chairwoman of the Education and the Workforce committee | Official U.S. House headshot

Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) and Health, Employment, Labor, and Pensions Subcommittee Chairman Bob Good (R-VA) have addressed a letter to President Biden and Vice President Harris following historic revisions to recent jobs data by the Bureau of Labor Statistics (BLS).

The Biden-Harris administration has consistently highlighted job growth during its tenure. However, BLS's revised data indicates that these policies may be adversely affecting American workers and businesses.

Foxx and Good wrote in their letter: "For nearly four years, the Biden-Harris administration has touted the supposed ‘successes’ of ‘Bidenomics.’ All the while, American families and businesses have suffered. In your March 2024 State of the Union address, you lauded record-breaking jobs numbers and an economy that was ‘the envy of the world.’ However, the Department of Labor’s Bureau of Labor Statistics (BLS) recently shattered that illusion by publishing revised jobs data which clearly demonstrates this is not the case.”

They further stated: “Since the Biden-Harris administration came into office, prices have increased nearly 20 percent, the savings rate has dropped to 3.2 percent, and one-third of Americans paid a late fee on bills this year. The August 21 jobs data from BLS makes it clear that Bidenomics is not working, and Americans are hurting.”

The letter concludes with a commitment from Republican leadership: “Under Republican leadership, the House of Representatives is on the side of the American people and is strengthening our economy by pushing back on the Biden-Harris administration’s burdensome overreach and reckless spending.”

To read the full letter, click here.

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