This article was authored by Andy Puzder for The Federalist on July 8, 2022.
Americans have clearly gotten used to not working and have chosen to live off the pandemic welfare that remains rather than return to the workforce.
The Atlanta Federal Reserve recently projected that second-quarter GDP fell by 1.9 percent. If its model proves correct, the U.S. economy has fallen into a recession with GDP shrinking for two consecutive quarters. Whether we are technically in a recession is far less important than the reality of the recession Americans have been experiencing for months. At this point, with ongoing historic inflation, Americans are also likely enduring stagflation.
The Biden administration’s bad economic policies bear much of the responsibility. So, the administration and congressional Democrats are trying to distract from the contracting economy and runaway prices by pointing to the supposedly strong labor market. They argue that the country is not in a recession as long as the unemployment rate stays low. As with so much, we’ve heard from this administration, it’s just not true.
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