The Dem plan was straightforward.
Use the lockdowns to tank the economy, run on a plan to save the economy, then start the usual lefty pork train for green energy and social justice. It worked in 1992, 2008, and seemed to have worked in 2016. But, predictably, the numbers aren’t lining up as intended.
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers.
Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.
Many economists had been expecting an even higher jobs number amid signs that the U.S. economy was roaring back to life.
There was more bad news: March’s originally estimated total of 916,000 was revised down to 770,000, though February saw an upward revision to 536,000 from 468,000.
No surprise there.
The Obama era was notorious for economists expecting good numbers and then having to revise their estimates downwards, while in the Trump era, the real economic numbers invariably defeated expectations, at least until the pandemic arrived.
Biden is rebooting Obama’s economic policies and the media is rebooting its efforts to gaslight its way to a good economy.
The Democrat plan had been to run on an economic revival while dismissing Republican attacks on their extremism as running on culture. But it’s starting to look like Democrats will run on lying about the economy while Republicans will run on telling the truth about it.
And that’s going to get at the crucial two Americas question.
Because the economy is looking good for some people. And those people are often Biden voters. The media really does believe it’s a good economy because it’s good for its class. Meanwhile, non-college voters are once again being left behind and having their jobs eliminated as Biden gets back to using green energy to attack the working class and gets back to enabling China to trash our economy.
That’s going to be a major issue in 2022. The question is whether Republicans will be up to seizing the moment.