Simply weeks after Vice President Kamala Harris’ overwhelming loss to President-elect Donald Trump within the 2024 presidential election, the White Home launched a memo that hailed the Biden-Harris administration as probably the most profitable in historical past.
The memo shared on Monday highlighted how President Biden and Harris took workplace in the course of the COVID-19 pandemic and a “reeling” economic system, earlier than happening to name their administration “probably the most profitable administrations in historical past” which “can be forsaking the most effective economic system on the planet.”
“Underneath President Biden and Vice President Harris’ management, 16 million jobs have been created, and we’ve gotten ladies and other people of colour again within the labor power at report charges,” the memo acknowledged. “A report 20 million new enterprise purposes have been filed, and inflation is down to close pre-pandemic ranges.”
The White Home added that “our success” in these areas was resulting from “passing and implementing laws that rebuilt our nation’s infrastructure, made the most important funding in local weather motion in historical past, lowered prescription drug prices, and spurred a producing renaissance.”
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The White Home launched a memo on Monday calling the Biden-Harris administration “probably the most profitable administrations in historical past.” (Anna Moneymaker/Getty Photos, File)
The memo quotes unnamed “enterprise leaders” calling the U.S. economic system “among the many finest performing economies” in a long time.
The newest jobs report launched earlier this month, nonetheless, seems to indicate a special story.
The Labor Division report reveals that simply 12,000 jobs have been created in October, far beneath estimates of as much as 120,000 and have been the bottom in 4 years. The unemployment charge was 4.1%, consistent with expectations.
President Biden bowed out of the 2024 presidential race in July following a dismal debate efficiency towards former President Donald Trump and questions over his psychological health. Vice President Kamala Harris then led the Democratic ticket, finally dropping to Trump. (Andrew Leyden/NurPhoto by way of Getty Photos, File)
The cumulative impact of inflation has continued to weigh on many Individuals.
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The Labor Division’s inflation report for October discovered that the client value index — a broad measure of how a lot on a regular basis items like gasoline, groceries and lease price — was up 2.6% from a 12 months in the past for the U.S. as an entire, consistent with expectations as inflation ticked larger amid a broader cooling development.
Days forward of the presidential election, Trump marketing campaign nationwide press secretary Karoline Leavitt argued that “this jobs report is a disaster and definitively reveals how badly Kamala Harris broke our economic system.”
President-elect Donald Trump overwhelmingly defeated Vice President Kamala Harris within the 2024 presidential election, profitable each the electoral school and standard vote. (Chip Somodevilla/Getty Photos, File)
On Election Day, the need of the American folks was mirrored within the vote totals and appeared to indicate a referendum on the insurance policies of the Biden-Harris administration.
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Trump beat Harris with a convincing 312 electoral votes to Harris’ 226, and with over 2 million extra votes within the standard vote.
Fox Information Digital’s Paul Steinhauser and Fox Enterprise’ Eric Revell contributed to this report.
