On Friday, Breitbart posted an article about President Biden’s recent statements regarding raising the debt ceiling.
The article reports:
During an interview with MSNBC on Friday aired on Friday’s broadcast of “The 11th Hour,” President Joe Biden claimed that “no one’s ever tied” their budget to raising the debt ceiling and responded to charges that former President Donald Trump was willing to play ball on issues while he won’t by stating that Trump hurt the economy and increased debt, while the economy under the Biden presidency is doing well.
Biden said, “[T]he idea someone, for the first time, is saying, unless you pass this ridiculous budget I have — which is the way I would characterize what the Republican MAGA budget is — unless you pass this budget, we’re not going to increase the debt limit and we’re going to go bankrupt, we’re going to — the United States of America is going to renege for the first time in history on its debt. And you just can’t — no one’s ever tied them together before. I’ve said to the Republican leader, here’s the deal: Take the debt limit, pass it like you did three times when Trump was president, and he increased the whole national debt for 200 years by 40%.”
The article concludes with the following statement by President Biden:
Biden responded, “Play ball? He ballooned the debt, he created unemploy[ment]. Look, when I came to office, we had incredibly high unemployment, we were in a situation where we had very little movement on anything going on. And look at the employment rate now. Just today, 250,000 new jobs, highest participation in 75 years of women in the job market, lowest unemployment rate for African Americans. Things are moving.”
Actually, in January 2020, when President Biden took office, the overall unemployment rate was 3.5, the unemployment rate for women was 3.2, and the unemployment rate for African Americans was 6.3 (statistics here). The current unemployment rate is 3.4 (not a significant change), the unemployment rate for women is 3.1, and the unemployment rate for African Americans is 4.7 (that number is the only number that actually represents significant improvement). But before you get too excited about that, let’s look at the workforce participation rate (statistics here). In January 2020, the workforce participation rate was 63.3 overall, the workforce participation rate for women was 59.2, and the workforce participation rate for African Americans was 62.8. The current workforce participation rate is 62.6, the current workforce participation rate for women is 58.6, and the current workforce participation rate for African Americans is 63.0. These numbers illustrate just one area where President Biden is either seriously misinformed or is lying.