(ThyBlackMan.com) Basing our economy on an uncomprehensive unemployment rate and undercounting our Job rates hiding layoffs “makes no Economic Sense,” as we face our third Economic Downturn in 15 years. President Joe Biden’s economic policies are handing American workers, including Black Americans, who are traditional supporters of Biden, and Democrats little for their VOTE. He may even be handing the presidency back to Republicans, due to his economic policy, when it comes to undercounting our unemployment rates, and coming layoffs.
Nevertheless, perhaps the Biden-Harris administration is, onto something. Biden, and the arrogant people, whom he has surrounded himself with, believe they can actually win the next presidential election, using LIES about our economy, and unemployment rates (click on the article at the link for more understanding: https://thyblackman.com/2023/10/06/president-joe-biden-and-democrats-undercount-our-job-rates-as-a-recession-looms/). Democrats, now openly lie about the status of our economy, just like Mr. Trump lies about the 2020 election being stolen, but Democrats have yet, to politically pay a price at the polls, for their ruse.
However, disinformation used by dictators, and authoritarian governments, and now, by Democrats, when it comes to our unemployment rates did not start, with Mr. Biden. Former president Barack Obama was elected to two terms in office, during which time, the unemployment rates of American workers were undercounted, and artificially suppressed by his administration. Obama and his administration, actively embraced, and continued the vile policy of undercounting our unemployment rates, started during the Clinton administration, even as he knew African Americans suffered the most, from this ugly policy.
Former president Obama has since, become one of the Democratic Party’s most valuable spokespersons. Mr. Obama wrongly and surreptitiously encourages black Voters, everywhere, to support the continuation of this awful policy of undercounting our Job rates, by not being transparent with them. Many Black Americans are not aware of the policy, and almost certainly do not know Mr. Obama, Democrats, and the Congressional Black Caucus, are not working in OUR best interest, as they quietly promote and support the policy of understating our Job rates and coming layoffs.
Indeed, Biden and Democrats feel, with the help of the main street media, such as the New York Times, NBC network (Morning Joe), the Philadelphia Tribune, and their big money donors, including Hollywood and television celebrities, like Rev. Al Sharpton, they can actually pull off successfully, the scheme of undercounting our unemployment rates. They have “erroneously concluded,” this irresponsible policy will get Biden elected to a second term. They are doing this as we speak, right before our eyes.
Here is what Proverbs 26:28 says about a liar (any liar):
A lying tongue hateth those afflicted by it: and a flattering mouth worketh ruin.
Telling a Lie about our Job rates is not a great political strategy, nor beneficial to American workers, professional, blue collar, union, and working-class Americans, everywhere; and building an economy on bad unemployment rate numbers does not make a whole lot of sense, either. As the proverb implies, does this mean the Biden-Harris administration, and by extension the Congressional Black Caucus and Democratic Party do not care about, and unfavorably look down on everyday working-class Americans? The Party should not be more important than the people it represents, and the TRUTH (are we experiencing what is commonly called, “party over people”)?
When it comes to the Biden-Harris administration’s economic policies, there is a disconnect. There is a disconnect, when it comes to his economic policies, that makes ALL of us Democratic Party voters, who actively support the “Party,” in one way or another, look like chumps and liars. His scam implies we ALL condone lying about our unemployment rates because of our silence. This is what MAGA Republicans are accused of by many of us, when it comes to Trump. “We are certainly not Maga Republicans, we are for the most part just behaving like them.” When it comes to this issue, there is also, a disconnect with working-class Americans everywhere, especially among African American workers, as interest rates rise, and layoffs increase; can we count on Biden to do what is right?
Even the most ardent Democrat at the top of the Democratic Party, and the Biden administration should understand this principle. “When you undercount our unemployment rates, which leads to under-reporting our layoffs, (what Democrats do), as a Recession looms, you are not in any way, delivering for working-class American families, including black American workers.”
Here is what Dr. Larry Summers, former Director of the National Economic Council in the Obama administration, and former Treasury Secretary, in the Clinton administration said about our economy, in comments in a Washington Post article, on December 21, 2022,
“Fiscal policy will need to respond if and when (a) recession comes. There will not be room for massive, across-the-board efforts. But now is the time to put in place carefully targeted measures to “refund child tax credits,” strengthen unemployment insurance and be ready to pull forward federal spending…”
Dr. Summers, based on these comments, thinks a Recession could possibly happen, due to the Federal Reserve hiking interest rates to bring inflation under control. Out of the 12 times the Federal Reserve (Fed) has hiked interest rates, since 1945, to control inflation, like it is doing now, each time the economy went into a Recession, setting American workers, and their families back economically, including African Americans. When the Fed brought interest rate hiking to a stop – only one time out of the 12 times did the layoffs stop, also. So, when you do the math – eleven times, out of the 12, the layoffs continued, once they started, leading to a deeper Recession.
A question of great importance – Do we want to head into this coming Economic Downturn or Recession (call it what you will – each lead to layoffs) using President Biden, the Congressional Black Caucus, and Democrats’ false political unemployment rate numbers, or the Real unemployment rate numbers, as detailed by economists? The real Jobless rate for October is 7.2%, (U-6), not Biden’s 3.9% rate (U-3), making the Black American worker group rate, 9.9% at a minimum, just short of the 10.1% 2008 Great Recession Job rate. The Black American rate averages 2.7% over the real Jobless rate.
Let us hear the conclusion of the whole matter. With diversity as the nation’s strength, the economy should work for everyone. The TRUTH, about our unemployment rates, really matters. The answer, why can’t we “Fix the Real Economy,” using the REAL unemployment rate of 7.2%, Mr. Biden, and Democrats? We have to stop supporting the LIES of the Biden-Harris administration and “embrace the Truth,” and speak the Truth out Loud, when it comes to our unemployment rates.
Isn’t this what our Minority Leader of Democrats in the House of Representatives, Hakeem Jeffries is asking MAGA supporters of Mr. Trump to do? Stop supporting former president Trump’s Lies and join Democrats in the House, in support of growing Jobs, and the economy once the interest rate hikes end. Unfortunately, this is where we are today, and what we, as American VOTERS have become, supporters of LIES, through our silence, as our Democracy, institutions (Department of Labor), and economy are tested.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
