Biden Economy Underperforms Expectations as Business Owners Fear Lockdowns

The rule of thumb for the previous decade and change was that the Obama economy tended to underperform expectations while the Trump economy outperformed them. This says something about the biases of the experts and the media, both known and unknown.

The Biden administration is desperately touting its economic numbers by trying to find any statistical spin it can leverage, but disappointing is still disappointing.

The U.S. economy created far fewer jobs than expected in November, in a sign that hiring started to slow even ahead of the new Covid threat, the Labor Department reported Friday.

How do you ask employers to hire and retain workers when they don't know if they're going to be facing another lockdown?

Biden is promising no lockdowns, but then again he also promised no vaccine mandates. Everything, as his spokeswomen like to say, is on the table which means that business owners have to hedge their bets against the worst.

Combine the supply chain crisis with inflation and possible shutdowns and you're not going to have much in the way of economic confidence.

 

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