{"id":51002,"date":"2023-07-01T15:58:15","date_gmt":"2023-07-01T19:58:15","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=51002"},"modified":"2023-07-01T15:58:15","modified_gmt":"2023-07-01T19:58:15","slug":"more-fact-checkers","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=51002","title":{"rendered":"More Fact Checkers"},"content":{"rendered":"

On Thursday, The Washington Examiner<\/a> posted an article about President Biden’s recent speech on Bidenomics.<\/p>\n

The article reports:<\/p>\n

President Joe Biden<\/a> promised a \u201cfundamental break\u201d with \u201ctrickle-down economics\u201d in a speech on Wednesday in which he relied on a number of misleading claims to make his point.<\/strong><\/p>\n

Touting \u201cBidenomics<\/a>,\u201d the White House<\/a>\u2019s name for its economic agenda heading into the 2024 race, Biden floated a plan that would involve spending more taxpayer money and boosting union labor<\/a>.<\/strong><\/p>\n

Here is the fact check on that speech:<\/p>\n

\u201cMy predecessor enacted the latest iteration of the failed theory. Tax cuts for the wealthy. It wasn\u2019t paid for, and the estimated cost of his tax cut was $2 trillion.\u201d<\/strong><\/p>\n

Former President Donald Trump<\/a>‘s tax cuts did not benefit only the wealthy, and they didn\u2019t cost the government nearly as much as critics claimed.<\/strong><\/p>\n

Last year, the Congressional Budget Office actually said<\/a> the government is expected to collect more revenue over the next decade than it had projected before the tax cuts were signed into law.<\/strong><\/p>\n

In fiscal 2018, the first year after Trump signed the tax cuts into law, the federal government actually collected slightly more revenue<\/a> overall than it had the previous year.<\/strong><\/p>\n

We learned this during the Reagan administration–when you cut taxes, revenue goes up.<\/p>\n

The article continues:<\/p>\n

\u201cWind and solar are already significantly cheaper than coal and oil. You\u2019re not going to see anybody building a new coal-fired plant in America \u2014 not just because I\u2019d like to pass a law to say that; it\u2019s too expensive.\u201d<\/strong><\/p>\n

One key reason that renewable energy is now cheaper than traditional energy production is because the Biden administration<\/a> has offered sweeping tax breaks and subsidies to green energy companies.<\/strong><\/p>\n

…\u201cToday, inflation is less than half of what it was a year ago. And that inflation [was] caused by Russia and by the war in Ukraine and by what was going on.\u201d<\/strong><\/p>\n

Inflation<\/a> still remains significantly higher than before Biden took office, even if it has fallen from the heights of last year.<\/strong><\/p>\n

Before Biden took office, the consumer price index, a measure of inflation, rose 1.4% for 2020<\/a>.<\/strong><\/p>\n

The CPI climbed<\/a> 4.9% from April 2022 to April 2023, meaning prices this year are still rising far faster than before Biden\u2019s inauguration.<\/strong><\/p>\n

While inflation was indeed worse last year, with prices jumping<\/a> by 8.6% between May 2021 and May 2022, it remains a significant problem for many at nearly four times the level it was before Biden\u2019s presidency.<\/strong><\/p>\n

…\u201cWhen I took office, unemployment was over 6%. With the American Rescue Plan, we provided relief and support directly to working-class families. Our economy came roaring back. Unemployment dipped below 4% by the end of my first year in office.\u201d<\/strong><\/p>\n

Like Biden\u2019s claim about the number of jobs created, this statement is misleading because the unemployment rate was artificially high when he took office.<\/strong><\/p>\n

The unemployment rate had already begun to come down from its high<\/a> of 14.8% in April 2020 by the time Biden took office.<\/strong><\/p>\n

Ending lockdowns and easing pandemic restrictions were the primary drivers of the unemployment rate\u2019s fall, but Biden opposed both as a presidential candidate.<\/strong><\/p>\n

…\u201cJust in my first two years in office, my team and I reduced the deficit by $1.7 trillion.”\u00a0<\/strong><\/p>\n

Biden has previously touted the deficit reduction that occurred on his watch, and it\u2019s been misleading every time<\/a>.<\/strong><\/p>\n

The national debt grew<\/a> by $7.8 trillion during Trump\u2019s four years in office.<\/strong><\/p>\n

But much of that occurred in 2020 as a result of emergency pandemic spending.<\/strong><\/p>\n

The deficit<\/a> at the end of fiscal 2020 was more than triple what it was at the end of fiscal 2019, a result of the massive rescue packages Congress passed to blunt the effects of lockdowns.<\/strong><\/p>\n

…In fact, Biden has pushed for record levels of spending, and he asked Congress for relief funds in 2021 well in excess of what was needed at the time.<\/strong><\/p>\n

Please follow the link to the article for further details.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, The Washington Examiner posted an article about President Biden’s recent speech on Bidenomics. The article reports: President Joe Biden promised a \u201cfundamental break\u201d with \u201ctrickle-down economics\u201d in a speech on Wednesday in which he relied on a number … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10974,16738,317,8123,13372,11137,2720,7146],"class_list":["post-51002","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-congressional-budget-office-cbo","tag-consumer-price-index-cpi","tag-green-energy","tag-inflation","tag-president-biden","tag-tax-cuts","tag-the-washington-examiner","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/51002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51002"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/51002\/revisions"}],"predecessor-version":[{"id":51005,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/51002\/revisions\/51005"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}