Economist calls out Bidens three major economic falsehoods

THE PRESIDENT'S ECONOMIC POLICIES ARE POPULAR. WHEN YOU ASK WHAT PEOPLE THINK ABOUT INVESTING IN ROADS, BRIDGES AND AIRPORTS, WHEN YOU ASK PEOPLE WHAT THEY THINK ABOUT EDUCATING AND EMPOWERING WORKERS, WHEN YOU ASK PEOPLE HOW THEY FEEL ABOUT RE-SHOWING MANUFACTURING JOBS AND INVESTING IN AMERICA THOSE THINGS AREN'T READILY POPULAR AND WHEN WE GO OUT AND TALK TO PEOPLE ABOUT IT THEY SUPPORT BIDENOMICS SO THAT IS WHAT

26 STRAIGHT MONTHS, THE LONGEST STRETCH IN HISTORY AND TWICE THE GLOBAL FINANCIAL CRISIS. WE THOUGHT THE GLOBAL FINANCIAL CRISIS WAS LONG AND BAD AND WE HAVE TWICE THAT LENGTH. WHAT DO YOU MAKE OF THAT? >> IT SHOWS YOU HOW THE GOVERNMENT HAS TO PAY FOR SPENDING ONE WAY OR ANOTHER. THEY CAN RAISE TAXES ON YOU EXQUISITELY OR IMPLICITLY RAISE TAXES THROUGH INFLATION AND THAT IS WHAT

WE HAVE SEEN UNDER PRESIDENT BIDEN. IF YOU WONDER WHERE THE GOVERNMENT GOT TRILLIONS OF DOLLARS HE AND CONGRESS SPENT THE LAST COUPLE YEARS THEY ARE TAKING IT OUT RIGHT NOW THROUGH HIDDEN TAX OF INFLATION. TAYLOR: YOU GO THROUGH BIDEN'S ECONOMIC POLICIES AND IDENTIFY VARIOUS FALSEHOODS. THE FACT THAT BIDEN HAS BEEN A MAJOR JOB CREATOR, REDUCING THE DEFICIT, INCOME IS UP FOR THE BOTTOM HALF OF EARNERS.

WHEN AMERICANS ARE AT HOME AND THEY HEAR PRESIDENT BIDEN AND THE WHITE HOUSE STAFF SPEAKING ABOUT WHAT THEY CALL COMPLIMENTS WHAT DO YOU THINK AMERICANS SHOULD KNOW ABOUT WHAT HE'S DOING TO THE ECONOMY? >> AMERICAN FAMILIES ALREADY KNOW WHAT'S GOING ON, THEY ARE NOT LISTENING TO THIS WHITE HOUSE, THEY ARE SEEING AND FEELING IN THEIR DAILY LIVES THE EFFECTS OF HIS POLICY WHICH IS REAL WAGES

ARE DOWN 5. ONE% SINCE HE TOOK OFFICE. TO PUT THAT IN CONTEXT FOR THE AVERAGE AMERICAN FAMILY, THEY LOST $5600 IN TERMS OF ANNUAL PAY. THAT'S DEVASTATING. FOR A LOT OF FAMILIES THAT'S THE EQUIVALENT OF LOSING A MONTH'S PAY. WHEN YOU LOOK AT THINGS LIKE JOBS IF YOU WANT TO COUNT JOBS RECOVERED FROM THE PANDEMIC BECAUSE WE SAID TO BUSINESSES AFTER TELLING THEM IT IS ILLEGAL

IT FOR YOU TO OPEN AND NOW YOU CAN OPEN AGAIN, WE ARE GOING TO COUNT THAT AS JOB CREATION. IF YOU PLAY THAT GAME WE WILL PLAY THAT GAME, YOU FIND UNDER DONALD TRUMP THE AVERAGE MONTHLY JOB GAINS AFTER THE PANDEMIC WERE HIGHER THAN UNDER PRESIDENT BIDEN. BRIAN: MONTH IN AND MONTH OUT YOU SEE THE SAME LINE FROM THE BIDEN ADMINISTRATION. SMALL BUSINESSES ARE SAYING EVEN

NOW I CAN'T FIND WORKERS. I FEEL THERE IS NOT A SUPPLY OF PEOPLE ESPECIALLY IN LEISURE AND HOSPITALITY, THE DATA THAT BIDEN SITES, THERE'S A HUGE GAP. >> CERTAINLY BUT EVEN IF YOU WANT TO TALK ABOUT THE DATA HE IS CITING, THAT DATA IS REVISED DOWN OR THE DATA IS HIGHLY MISLEADING, THOSE JOBS NUMBERS FOR EXAMPLE, YOU LOOK AT THE SURVEYS THAT MAKE UP THAT REPORT

THEY HAVE DIVERGED DRAMATICALLY. BRIAN: THE YEAR'S HOUSEHOLD SURVEY? >> THE ATTACHMENT SURVEY CONTINUES RISING BUT THE HOUSEHOLD SURVEY TELLS US EMPLOYMENT HAS BEEN FALLING, THE HOUSEHOLD SURVEY TELLS US WE HAVE SIGNIFICANT -- PEOPLE GETTING A SECOND OR THIRD JOB, THOSE ARE COUNTED AS ADDITIONAL PAYROLLS. TAYLOR: THE LAST JOBS DATA WE WERE DIGGING INTO LOOKED AT THE DISCREPANCY AND SAID THIS DOESN'T MAKE SENSE. WE HAVE UP

ON THE BOARD, TALKS ABOUT REDUCING THE DEFICIT. 20% OF OUTSTANDING US DEBT HAS BEEN ISSUED OR CREATED SINCE 2020. PEOPLE AT HOME ARE TRYING TO BALANCE THEIR PROJECTS AND MAKE IT WORK, PUTTING THINGS ON CREDIT CARD TO MAKE THINGS NEED, LOOK AT THE FEDERAL GOVERNMENT ISSUING WHAT IS UNLIMITED TRILLIONS OF DOLLARS OF DEBT. HOW DOES THIS END? >> VERY POORLY, THIS IS AN UNSUSTAINABLE PATH, GOING

BACK TO FAMILY FINANCE, FEDERAL FINANCE SOUNDS MORE COMPLICATED THAN IT IS. IF YOU ARE CONTINUOUSLY PUTTING EXPENSES ON CREDIT CARDS BECAUSE YOU DON'T HAVE ENOUGH MONEY TO PAY FOR WHAT'S GOING OUT, WHAT HAPPENS? YOU ARE ON THE PATH TO INSOLVENCY. THAT'S WHERE AMERICA IS AND IT IS ACCELERATING UNDER PRESIDENT BIDEN. ONE OF HIS FAVORITE SOUNDBITES IS HE HAS CUT THE DEFICIT. THE PROBLEM WITH THAT IS

IT IS NOT VERY SOUND. THE FACT THAT IS -- IF BIDEN HAD LET SPENDING RETURN TO PRE-PANDEMIC LEVELS, WHEN THE COVID SPENDING EXPIRED AND NOT ADD EVERYTHING ELSE, YOU WOULD HAVE A SURPLUS. BRIAN: ALWAYS PLAYING GAMES WITH HIS STARTING POINT SAYING THINGS ARE GETTING BETTER AND THE FIRST RESPONSE IS THEY GOT REALLY REALLY BAD. NOW THEY ARE JUST REALLY BAD. BUT THAT'S NOT T