NEWYou can now listen to Fox News articles!
Former Reagan economic adviser Art Laffer slammed President Biden for his economic falsehoods, as he continuously touts a growing economy while Americans battle sky-high inflation and surging gas prices. Laffer joined “The Faulkner Focus” to debunk Biden’s claims, which he said are “not factual.”
BIDEN TAKES SHOT AT REPORTER SAYING RECESSION COULD BE INEVITABLE: ‘DON’T MAKE THINGS UP’
ART LAFFER: The one really serious mistake that the president states over and over again is that this economy is in beautiful shape, and it’s been growing rapidly. All of that is not true. There are… 800,000 less people employed today than there were in February of 2020. We have not even caught back up to where we were before. If you look at it relative to trend, we’re off that trend by 5 or 6 million jobs. In the first quarter of this year, GDP growth was negative by 1.5 percent, which is a huge drop in real GDP. And they have just revised the second quarter of GDP, down from a 1.3% growth to a 0.9% growth. This is the Atlanta Fed’s estimates of what the second quarter will be. Now it’s down to 0% on their estimates, so all of those statements they make are just literally not true. They’re not factual.
WATCH THE FULL INTERVIEW FROM “THE FAULKNER FOCUS” BELOW: