<p>President <a href="http://dailywire.com/topic/biden-administration" target="_blank" rel="noopener">Joe Biden</a> claimed on Wednesday that the <a href="https://www.dailywire.com/topic/american-rescue-plan" target="_blank" rel="noopener">American Rescue Plan</a> was responsible for an apparent <a href="http://dailywire.com/topic/economy" target="_blank" rel="noopener">economic</a> rebound in the United States.</p>
<p>The economy met the rule-of-thumb definition of a <a href="http://dailywire.com/topic/recession" target="_blank" rel="noopener">recession</a> — two consecutive quarters of negative growth — two months ago as the economy <a href="https://www.dailywire.com/news/united-states-economy-shrinks-in-the-first-part-of-2022">shrank</a> at a 1.5% annualized rate in the first quarter and <a href="https://www.dailywire.com/news/u-s-in-a-recession-after-second-straight-quarter-of-negative-growth">contracted</a> at a 0.9% pace in the second quarter. Yet the Biden administration has repeatedly argued that the economy, which has been plagued by <a href="http://dailywire.com/topic/inflation" target="_blank" rel="noopener">inflationary pressures</a> and persistent <a href="http://dailywire.com/topic/supply-chain" target="_blank" rel="noopener">supply chain</a> backlogs for the past two years, is <a href="https://www.dailywire.com/news/white-house-again-claims-u-s-stronger-economically-than-we-have-been-in-history">stronger than ever</a>.</p>
<p>“The American Rescue Plan took America from an economic crisis to an economic recovery,” Biden <a href="https://twitter.com/joebiden/status/1565048030067310595?s=11&amp;t=o5h9dcvzwGG3m6yD2FEqkw">said</a> on social media. “And not a single Republican voted for it.”</p>
<p>Biden <a href="https://www.dailywire.com/news/bidens-covid-relief-plan-where-is-the-money-actually-going">signed</a> the American Rescue Plan, a $1.9 trillion stimulus package that included $1,400 relief payments for those who met the qualifications and an extension of $300 weekly enhanced federal unemployment insurance, at the outset of his tenure. The legislation was among the largest stimulus packages in American history and followed President Donald Trump’s $2.2 trillion CARES Act.</p>
<p>Evidence that the higher unemployment checks <a href="https://www.dailywire.com/news/bidenomics-how-inflation-got-out-of-control">contributed to record-high inflation</a> has continued to mount. While some states allowed residents to continue receiving the benefits through September 2021, others opted out of the program in the interest of fostering a recovery in their labor markets. Economists Harry Holzer, Glenn Hubbard, and Michael Strain <a href="https://www.dailywire.com/news/surprise-enhanced-unemployment-benefits-significantly-increased-unemployment-study">noted</a> in a recent paper that the states which prematurely nixed the benefits saw “the flow of unemployed workers into employment increase by around two-thirds.”</p>
<p>Biden, however, still asserts that the American Rescue Plan fostered “a fundamentally different economic vision” that induced a landmark recovery.</p>
<p>“The previous administration lost more jobs on its watch than any administration since Herbert Hoover — that’s a fact — all based on failed trickle-down economics that benefitted the wealthiest Americans and hit the middle class and working people the hardest,” Biden argued during a <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/07/06/remarks-by-president-biden-on-the-american-rescue-plans-special-financial-assistance-program/">speech</a> delivered in Ohio two months ago. “We designed the American Rescue Plan based on the belief that a recovery should help all Americans prosper… a plan that led to the most jobs created in the first period of a presidency than any time in all American history.”</p>
<p>Biden has repeatedly <a href="https://www.dailywire.com/news/biden-admin-blasted-online-for-graph-claiming-biden-created-most-monthly-jobs-ever">claimed</a> that the strong labor market recovery stemmed from his policies — without accounting for the reality that the job growth occurred as the United States is regaining jobs from the lockdown-induced recession rather than creating new jobs from scratch.</p>
<p>Meanwhile, wage inflation has been a salient factor for employers as <a href="https://www.dailywire.com/news/americans-continue-to-opt-out-of-the-workforce">labor force participation</a> rates fail to recover, with retailers <a href="https://www.dailywire.com/news/consumers-absorb-inflation-as-retail-sales-increase">passing additional costs</a> onto consumers. Labor force participation dropped from 66% in 2008 to 63% in 2020, then fell another 3% between February 2020 and April 2020 alone amid government lockdowns and business closures, according to <a href="https://fred.stlouisfed.org/series/CIVPART">data</a> from the Bureau of Labor Statistics.</p>
<p>Biden has also pinned inflation on <a href="https://www.dailywire.com/news/biden-says-exxon-made-more-money-than-god-this-year-blames-them-for-gas-price-spike">corporate price gouging</a> and “<a href="https://www.dailywire.com/news/president-biden-blames-vladimir-putin-for-record-high-inflation">Putin’s Price Hike</a>.” As year-over-year inflation reached its highest levels in June, the commander-in-chief <a href="https://www.dailywire.com/news/biden-claims-inflation-is-worse-everywhere-but-here-thats-not-even-close-to-true">falsely claimed</a> that rising price levels are “worse everywhere but here” — though developed nations such as Germany, the United Kingdom, Canada, South Korea, and Japan had been experiencing lower inflation than the United States.</p>

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U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

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Biden Says His Spending Agenda ‘Took America From An Economic Crisis To An Economic Recovery’