WATCH: Biden says he's leaving economy 'stronger than ever' for Americans as his term nears end
www.pbs.org
President Joe Biden lauded his administration’s record on the economy after the labor department reported Friday a surge in job growth and decline in unemployment last month.

Summary

President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.

December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.

However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.

Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.

  • ubergeekEnglish
    104·
    1 day ago

    Inflation is a necessary evil,

    Only in a capitalist system, that requires the exploitation of labor…

    • djsoren19@yiffit.net
      72·
      1 day ago

      It’s required in any system that uses a fiat currency. Maybe a fiat currency is evil incarnate, but it also offers a lot of conveniences. Personally, I think I’d prefer having some number that translates my labor into spending units, and fiat currency works about as well as anything else when carefully managed.

      • ubergeekEnglish
        44·
        1 day ago

        Personally, I think I’d prefer having some number that translates my labor into spending units

        How about non-transferable labor vouchers?

        Even in a system with fiat currency, inflation is not a requirement. Its only a requirement under a capitalist system, that demands profits rise constantly.