Skip to main content

Biden schools the GOP on real economic leadership.

 Yes, inflation has been going down, down, down since 6/30/22 ! The rate of inflation for the year ending: 6/30/2022 was 9.1% 7/31/2022 was 8.5% - down 1/31/2023 was 6.3% - down 2/28/2023 was 6.0% - down 3/30/2023 was 5.0%  - down 4/30/2023 was 4.9% - down 5/31/2023 was 4.0% - down 6/30/2023 was 3.0% - down Jobs added: 370,000 in  June 2022  with a 3.6% unemployment rate !                  568,000 in July 2022  with a 3.5% unemployment rate ! 352,000 in August 2022  with a 3.7% unemployment rate ! 350,000 in September 2022  with a 3.5% unemployment rate ! 324,000 in October 2022  with a 3.7% unemployment rate ! 290,000 in November 2022  with a 3.6% unemployment rate ! 239,000 in December 2022  with a 3.5% unemployment rate ! 472,000 in January 2023  with a 3.4% unemployment rate ! 248,000 in February 2023  with a 3.6% unemployment rate ! 217,000 in March 2023  with a 3.5% u...
1 comment

Job Growth Strong Yet Again !

 US job growth was strong in March 2023 resulting in an unemployment rate falling to 3.5% !  A total of 236,000 jobs were added.

So what could be fueling this economic growth and job creation ?

To date, the Administration has announced nearly $200 billion in funding and over 20,000 projects or awards, which touch over 4,500 communities. 

In January 2023, the President has announced awards for regionally or nationally-significant projects including over $2 billion to upgrade some our nation’s most economically significant bridges and over $1.2 billion in Mega grants. These infrastructure investments will create good-paying jobs – including union jobs and jobs that do not require a college degree. The projects will grow the economy, strengthen supply chains, improve mobility for residents, and make our transportation systems safer for all users.

 Thanks to President Biden’s Investing in America Agenda – including historic legislation signed into law by President Biden such as the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act – that is changing. Since the President took office in 2021, companies have committed over $12 billion in private sector investments across Virginia.  This would have been more if Glenn Youngkin did not let paranoia and politics get in the way of Ford building a $3.5 billion and 2500 jobs EV battery plant being built in Southside Virginia.  Instead, it is being built in Michigan.

The Biden economy is humming along.

Comments

Post a Comment

Popular posts from this blog

Biden schools the GOP on real economic leadership.

 Yes, inflation has been going down, down, down since 6/30/22 ! The rate of inflation for the year ending: 6/30/2022 was 9.1% 7/31/2022 was 8.5% - down 1/31/2023 was 6.3% - down 2/28/2023 was 6.0% - down 3/30/2023 was 5.0%  - down 4/30/2023 was 4.9% - down 5/31/2023 was 4.0% - down 6/30/2023 was 3.0% - down Jobs added: 370,000 in  June 2022  with a 3.6% unemployment rate !                  568,000 in July 2022  with a 3.5% unemployment rate ! 352,000 in August 2022  with a 3.7% unemployment rate ! 350,000 in September 2022  with a 3.5% unemployment rate ! 324,000 in October 2022  with a 3.7% unemployment rate ! 290,000 in November 2022  with a 3.6% unemployment rate ! 239,000 in December 2022  with a 3.5% unemployment rate ! 472,000 in January 2023  with a 3.4% unemployment rate ! 248,000 in February 2023  with a 3.6% unemployment rate ! 217,000 in March 2023  with a 3.5% u...
1 comment
Read more

More On The IRA And OOP Insulin Savings

 Health and Human Services now estimates that 1.5 million people with Medicare would have saved approximately $500 on out-of-pocket (OOP) insulin expense if the Inflation Reduction Act (IRA) had been in effect in 2020.   Remember that the IRA caps the OOP cost of insulin per prescription fill to $35.   So, you are asking, why is an average OOP cost of $42 per month ($500 divided by 12 months = $42 per month) such a big deal ?  Yes, that is a savings of $7 per month.  Not much, huh.  These numbers are based on filled prescriptions.  What we don't know is the number of UNFILLED prescriptions that would drive the numbers higher. In my healthcare practice, it was not unusual for people to slow down on insulin use and stretch that bottle further to afford the drug.  This was true of many medications.  God forbid that they drop and break a bottle of insulin or tip over a bottle of pills. Many of my patients were pretty indigent with littl...
Post a Comment
Read more

Talking Straight About The IRA

 Americans generally understand that federally funded programs which boost economic activity have some potential to raise the rate of inflation, but recent claims that the recently-passed Inflation Reduction Act (IRA) is a major contributor to our present rate of inflation are simply not accurate.  Aside from erratic supply chains and Russia’s invasion of Ukraine, The Economist attributes federal government outlays during the COVID pandemic as the primary and continuing factor driving inflation in the US. Our government “was a lot more aggressive than others in stimulating the economy during the covid-19 pandemic” according to that analysis which has created a gap between government spending and revenues “more than triple its level before the pandemic and higher than all other big rich countries”. So, it’s fair and accurate to point to COVID-era policies as drivers of inflation. But not the Inflation Reduction Act. In fact, the IRA will over the next decade be a huge brake on...
Post a Comment
Read more