You are here: Home / BM / Why Did the NYT Article on Fact-Checking President Joe Biden’s Economic Statements Exclude Misinformation About Unemployment Rates?
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(ThyBlackMan.com) A pivotal moment in the history of the United States was the day the Democratic Party, as a Matter of Policy started undercounting the unemployment rates of American workers, professional, blue collar, union, working-class Americans, and especially the unemployment rates of African Americans, who have the highest unemployment rate of any worker group. When I say as “a Matter of Policy,” it is important that you understand what that means. It means the Biden-Harris administration advocates using the apparatus of the federal government, in furtherance of a vile policy of deceiving American voters, when it comes to our unemployment rates, and the state of the American economy. Such a policy is inevitably destructive of our Democracy, but the New York Times did not see it that way.
Policies are generally directed at achieving a particular result and goal. The achievement of Biden’s goal is destroying our Democracy as you read this. It means President Joe Biden compromises every day the venerable institution of the Department of Labor, which produces statistical information regarding our unemployment situation each month. That department is forced, due to the Biden-Harris administration’s policies to announce each month a monthly rate of unemployment that is not comprehensive of America’s unemployment situation.
The U-3 category rate of unemployment taken from the Table of Alternative Measures of Labor Underutilization, which is what the Biden-Harris administration announces each month as our official Job rate was never meant to be viewed, as being comprehensive of our nation’s unemployment situation, because it is narrow in scope, as it measures a small worker group, hence, it will always flash a low Job rate number. That rate was 3.7% for January. Economists, at the time the changes to the unemployment rates were made in 1994, agreed the most comprehensive of the category of unemployment rates is the U-6 rate, which was 7.2%, for the month of January.
While Democrats started the scam of undercounting Job rates, Republicans took advantage of it, and kept the lie going. Former Republican Presidents Bush and Trump used the lies of low Job rates, during their terms in office. Obviously, if you arbitrarily lower the bar when it comes to our unemployment rates, which is what the Clinton administration did, it makes it easier for each political party to say their economic policies achieved various levels of success. Thus, Biden crisscrosses the nation, saying the following: “And [un]employment has been the lowest — been below 4 percent for the longest stretch in 50 years.”
Some of you may not understand how a few percentages can make a gigantic difference. Here is a simple way to visualize what Mr. Biden is doing to us. If you low ball, or undercount laid off workers, with a lower Job rate (Biden’s January political rate of 3.7%) than the Real rate for January (7.2%), President Biden willfully counts only 52% of unemployed and laid off working-class Americans, leaving 48% of American workers including African Americans uncounted, and unseen, by Congressional policy makers who use the administration’s numbers to construct legislation to help unemployed Americans. For detail and factual evidence, Biden and Democrats are actively doing this, undercounting our Job rates, click on the article at this link now, https://thyblackman.com/2023/10/06/president-joe-biden-and-democrats-undercount-our-job-rates-as-a-recession-looms/.
You would think in an article by Angelo Fichera, published on February 21st, 2024, titled “Fact Checking Biden’s Recent Economic Talking Points,” some objectivity and journalistic integrity would have been exercised, by the New York Times. You would have thought, stated among those talking points, would be the undercounting of the Job Rates of American workers, professional, blue collar, union, and working-class Americans, including African Americans. It demonstrates some in the mainstream media are disingenuous, or maybe they just have a blind spot, when it comes to reporting about the Biden-Harris administration.
Here are the topics the New York Times deemed are important in terms of fact checking the Biden-Harris administration in that article:
1) Biden inaccurate estimate of the average tax rate of a thousand billionaires whom he says are now in the United States,
2) The accuracy as stated, by President Biden, of the amount of private investment generated, by the Science and Chip Act Biden signed into law,
3) The amount of stimulus checks Biden was responsible for versus Trump and,
4) Donald Trump loss of Jobs during his time in office versus the record of former president Herbert Hoover.
Additionally, guess who the chief complainers are, of even this amount of fact checking, when it comes to the Biden-Harris administration. It was MSNBC’s popular “Morning Joe” program. Here is a television clip featuring former senator Claire McCaskill (D) of Missouri, Joe Scarborough, and Mika Brzezinski.
The following are some past comments about our unemployment rates from some members of Biden’s economic team, which may surprise many of you.
Lael Brainard, the former Vice Chair of the Federal Reserve, and President Biden’s current Director of his National Economic Council, stated in an article on February 24, 2021 in the Wall Street Journal the following: “When we take into consideration the more than 4 million workers who have left the labor force since the pandemic started, as well as misclassification, the unemployment rate is close to 10 percent currently—much higher than (Biden’s) headline unemployment rate of 6.3 percent.”
Janet Yellen, the Secretary of the Treasury, on February 18, 2021, in an interview on CNBC, commenting on the nation’s January unemployment rate said, “We have an unemployment rate that if properly measured in some sense, is really close to 10%.” The U-3 category rate, Biden’s official jobless rate for the month of January flashed 6.3%, while the most comprehensive and real unemployment rate, U-6 was 11.1%.
Jerome Powell, the Chairman of the Federal Reserve at the Federal Reserve Open Market Committee news conference on January 27, 2021, said, “The real unemployment rate is close to 10 percent (for December) if you include people that have left the labor force.” At that time, the U-3 official rate was 6.7%, and the U-6 rate was 11.7%.
Biden’s former Chair of the Council of Economic Advisers, Dr. Cecilia Rouse, on April 2, 2021, stated on the White House web site, she felt the March unemployment rate was around 9 %, rather than the 6% official unemployment rate Biden was touting. The U-6 rate clocked in at 10.7%.
Black voters saved Joe Biden’s last disastrous presidential run for office. Biden was losing the Democratic Party’s primary in 2020 and black voters stepped up and changed that narrative, making Mr. Biden a winner. Now, this President actively crisscrosses the nation, detrimentally understating African Americans’ unemployment rates, and the unemployment rates of all American workers, professional, blue collar, union, and working-class Americans, making us poorer.
Staff Writer; James Davis
Mr. Davis is a Financial Analyst. His articles are about relating facts in a usable, truthful, and understandable way. That way, WE ALL WIN. James is, the author of three books, among them, “The Fix This Time,” Boost Your Retirement Income! Simultaneously Create Jobs and Spur Economic Growth (https://www.amazon.com/dp/B00MI3PD2M). Reach out to James @ his blog https://thefixthistime.com.
Question? Comment? One may use this email address; MrDavis@ThyBlackMan.com.
