President Biden Continues To Deliver Strong Job Growth – While Congressional Republicans Agenda Would Tank Economy
FOR IMMEDIATE RELEASE: March 10, 2022
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PRESIDENT BIDEN CONTINUES TO DELIVER STRONG JOB GROWTH – WHILE CONGRESSIONAL REPUBLICANS’ AGENDA WOULD TANK ECONOMY
CNN: The US economy added 311,000 jobs in February, outpacing expectations
Yahoo Finance: Jobs report: US economy adds 311,000 jobs in February as labor market stays strong
WASHINGTON, D.C. — President Biden’s economic agenda continues to deliver for working- and middle-class families, creating good-paying jobs, fueling economic growth, and lowering costs to give families more breathing room in their budgets. Today’s jobs report underscores the strength of our economy under the president’s leadership: we’re seeing the best economy for American workers in decades, with higher wages, better benefits, and better jobs across the board.
The greatest threat to this economic progress? Congressional Republicans, whose extreme agenda raises costs, threatens programs like Medicare and Social Security that working families rely on, and balloons the deficit by $3 trillion. President Biden won’t stand for these harmful policies. He’ll continue to fight for the needs of the middle class, creating more good-paying jobs that put more money in the pockets of working people.
“Today’s jobs report is just the latest evidence that the Biden-Harris economic agenda is working,” said Building Back Together Executive Director Danielle Melfi. “As we mark the two-year anniversary of the American Rescue Plan tomorrow, legislation that fueled an unprecedented – and historically equitable – economic recovery, the Biden-Harris agenda continues to spur economic growth. The president is committed to building on this progress through the policies in his FY 2024 budget – and he’s calling on Congressional Republicans to put forward a plan of their own. A budget is a statement of values – and President Biden values good-paying jobs, economic growth, and lower costs for working people. It’s time for Congressional Republicans to lay out what they’re for.”
The labor market remains strong under President Biden’s leadership:
- Last month, 311,000 Americans found work, bringing the total number of jobs created under President Biden to 12.4 million.
- The unemployment rate has fallen by over two percentage points, to 3.6 percent, since President Biden took office.
- The unemployment rate has remained under 4% for more than a year under the president’s leadership.
- More Americans have joined the workforce, bringing workforce participation rates back to where they were before the pandemic.
President Biden’s budget for 2024 continues this progress, building on the agenda laid out during his State of the Union to finish the job – while Congressional Republicans have yet to put forward a plan of their own:
- Growing the economy from the bottom up and the middle out by investing in America and our people with funding for cancer research, equity and environmental justice, manufacturing and clean energy, making our communities safer, mental health services, paid leave for all, strengthening American democracy, tackling the opioid epidemic, veterans services, workforce training, and more.
- Reducing the deficit by making the wealthy and corporations pay their fair share, cracking down on fraud and wasteful spending on Big Pharma, Big Oil, and other special interests – while not raising a penny in taxes on anyone making under $400,000 per year.
- Protecting and strengthening Social Security and Medicare for the next generation by rejecting benefit cuts to Social Security while investing in basic services so seniors and people with disabilities can quickly and efficiently get the benefits they have earned.
- Lowering costs for families by investing in child care, education, health care, housing, utility bills, restoring the full Child Tax Credit, increasing access to food via WIC and school meals, and capping the cost of insulin for all.
Meanwhile, Congressional Republicans are pushing a deeply unpopular MAGA agenda that hurts hard-working families:
- Raising costs by repealing key provisions of the Inflation Reduction Act that cut the cost of health care, prescription drugs, and energy bills for families.
- Threatening cuts to Social Security and Medicare – along with other programs families rely on, like Medicaid and the ACA.
- Increasing the deficit by $3 trillion – hurting our economy and working families in order to cater to the ultra wealthy, big corporations, and special interests.