Joe Biden recently proposed more than $6 trillion in new spending.
The Fake News Media is working with Democrats to try to convince the American people that the $6 trillion is necessary, even trying to sell it as mostly “infrastructure” spending.
But Joe Biden and the Democrats are scrambling after a former top Obama official just made this shocking admission.
The last few weeks have been one disappointment after another for Joe Biden’s administration.
The most recent disappointment came when the April jobs report was released.
Instead of the nearly one million new jobs forecasters predicted the economy to create, the Bureau of Labor Statistics reported only 266,000 jobs created in April.
According to Republicans, the reason why the jobs report missed the expected numbers is because Biden’s enhanced unemployment benefits are paying American workers more to stay home than go to work.
Of course, Democrats tried to claim otherwise, attributing the missed numbers to a lack of childcare options.
However, Harvard economist Jason Furman just released a study that concluded that daycare or school closings played no role on the missed jobs report for April.
Instead, enhanced unemployment benefits are to blame.
The Daily Caller reports:
Harvard University economist Jason Furman suggested in a new study that the American Rescue Plan’s expansion of unemployment benefits could be harming the United States’ post-pandemic economic recovery.
Furman’s study argues that a lack of childcare options for working parents of young children is not causing the country’s poor jobs numbers. Instead, he writes in the study, “the continued concern about the threat of getting COVID-19 at work or expanded unemployment insurance benefits and eligibility” are the key “factors responsible for the slow employment recovery and depressed labor supply.”
And given the fact that Furman previously served as the Chair of Barack Obama’s Council of Economic Advisers, the Democrats and Fake News Media can’t accuse him of being a partisan hack.
Not only that, but Furman’s report will make it near impossible for Democrats to maintain support for enhanced unemployment benefits when even Barack Obama’s top economist admits they are hurting the economy.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.