Joe Biden and Kamala Harris love to lie to the American people. But some lies are more harmful than others.
And the Biden administration was just caught in a massive lie that could impact us all.
The Biden-Harris administration has spent the past few years peddling a narrative of robust economic growth, often boasting about the supposed success of their policies in revitalizing the American job market.
However, the truth is now beginning to surface, and it paints a far less rosy picture than what Kamala Harris and Joe Biden would have you believe.
According to new estimates from leading economists, the U.S. job growth figures for 2024 could be drastically revised downward, potentially slashing as many as one million jobs from the totals previously reported by the Biden-Harris administration.
This revelation is not just a minor adjustment—it’s a staggering correction that exposes the falsehoods at the heart of the Biden-Harris economic narrative.
For months, Kamala Harris has been bragging about the growth of the economy under their administration, but these new figures suggest that the so-called “Biden boom” was little more than a mirage, a misleading illusion designed to deceive the American public.
Economists from some of the nation’s most respected financial institutions are now predicting that the U.S. government’s preliminary benchmark revisions, set to be released on Wednesday, will reveal a massive overstatement in job growth.
Goldman Sachs Group Inc. and Wells Fargo & Co. estimate that the payroll growth through March 2024 could be at least 600,000 weaker than originally reported, with Goldman Sachs suggesting that the true number could be closer to one million.
Even the more conservative estimates from JPMorgan Chase & Co. indicate a decline of at least 360,000 jobs. These revisions, if accurate, would represent the largest downward adjustment in 15 years and would suggest that the U.S. labor market has been cooling for much longer—and more significantly—than the Biden-Harris administration has been willing to admit.
Wells Fargo economists Sarah House and Aubrey Woessner noted in a recent report that such a large negative revision would indicate that the strength of hiring was already fading well before this past April. This revelation directly contradicts the narrative pushed by the Biden-Harris administration and raises serious questions about their economic stewardship.
Kamala Harris has been one of the most vocal proponents of the Biden-Harris economic agenda, frequently taking to social media to tout what she claims are impressive job growth numbers.
In February, she posted on Facebook, “We have more work to do, but it’s clear: America’s economy is strong and getting stronger.” However, these latest estimates reveal that her boasts were premature, if not outright misleading.
The Bureau of Labor Statistics (BLS) currently claims that 2.9 million jobs were added in the year ending in March 2024, with an average monthly increase of 242,000.
However, if the revised numbers slash one million jobs from the total, the monthly gains would drop to an average of just 158,000—a far cry from the robust growth that Harris has been claiming.
While still a positive number, this level of job creation represents a significant moderation from the post-pandemic peak and suggests that the U.S. economy is far from the powerhouse that the Biden-Harris administration has portrayed.
The market’s reaction to these disappointing job numbers further underscores the fragility of the so-called economic recovery under Biden and Harris. The July jobs report, released in August, showed unemployment rising to 4.3 percent, with only 114,000 jobs added—well below the predicted 185,000 estimated by Dow Jones.
The Dow Jones Industrial Average responded by plummeting 832 points, a clear indication that investors are losing confidence in the Biden-Harris administration’s ability to manage the economy.
What’s more, a third of the jobs added in June were in the government sector, a sign that the private sector—the true engine of economic growth—may be struggling under the weight of the Biden-Harris administration’s burdensome regulations and anti-business policies. This reliance on government job creation is not sustainable and does nothing to address the long-term economic challenges facing the nation.
In stark contrast to the Biden-Harris administration’s failure to deliver on their promises, Donald Trump has a proven record of economic success. During his time in office, Trump presided over one of the most prosperous periods in recent U.S. history, with record-low unemployment, rising wages, and robust job growth across all sectors of the economy.
Trump’s policies of tax cuts, deregulation, and support for American businesses created an environment where the private sector could thrive, leading to unprecedented economic growth.
Trump’s approach stands in sharp contrast to the heavy-handed, big-government tactics of Biden and Harris, which have stifled innovation, burdened businesses with unnecessary regulations, and left millions of Americans struggling to make ends meet.
As the 2024 election approaches, voters have a clear choice: continue down the path of economic stagnation and false promises with Biden and Harris, or return to the proven, pro-growth policies of Donald Trump.
The truth is that the U.S. economy is not as strong as Biden and Harris would like us to believe. Job growth has been far weaker than they have claimed, and the labor market has been cooling for much longer than they have admitted.
This administration has failed to deliver on its promises, and the American people are paying the price.
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