Democrats have inserted numerous provisions and subsidy programs into their $3.5 trillion budget that would benefit green energy companies and speed the transition to renewables.
The Build Back Better Act would invest an estimated $295 billion of taxpayer money into a variety of clean energy programs in what would amount to the most sweeping climate effort passed by Congress, according to a House Committee on Energy and Commerce report. That price tag doesn’t factor in the other costly measures approved by the House Ways and Means, Agriculture, Natural Resources, Oversight and Transportation committees last month.
“This bill is crammed with green welfare subsidies, specifically for corporations and the wealthy,” House Ways and Means Ranking Member Kevin Brady told the Daily Caller News Foundation in an interview. Read More
White House Press Secretary Jen Psaki proudly declared on Tuesday that Joe Biden is using the pandemic to inflict “fundamental change” on the American economy.
When asked during the White House press briefing whether some programs in Biden’s $4.5 trillion budget proposal should get cut, Psaki rejected the notion, asserting that the pandemic was the perfect opportunity for Democrats to exploit the pandemic. Read More
The non-profit organization American Automobile Association (AAA) reported on Monday that Tennessee reached average gas prices above $3.00 per gallon. AAA data shows gas prices jumped 12 cents over the last week, leading to an average of $3.01 per gallon in the Volunteer State. Read More
FedEx in Humboldt is constructing a new distribution facility that will be eight times larger than its existing plant. Announced by the Humboldt Chamber of Commerce, the purchase of just over 59 acres in the Gibson County Industrial Park greatly expands the distribution center’s footprint. Read More
On Thursday, firearms manufacturer Smith & Wesson announced that they were moving their headquarters and significant elements of their operations from Springfield, Massachusetts to Maryville, Tennessee in 2023, creating 750 new jobs in Blount County. The move to Tennessee is an investment worth more than $125 million. Read More
On Tuesday in a press release, Tennessee Senators Bill Hagerty (R-TN) and Marsha Blackburn (R-TN) announced that they have introduced legislation to codify the Women’s Global Development and Prosperity (W-GDP) Initiative along with a few of their Republican colleagues. Read More
A taxpayer-funded theater in Minneapolis is charging nearly $100 for tickets to former Sen. Al Franken’s new comedy tour.
The tour is titled “The Only Former U.S. Senator Currently on Tour,” and is set to visit the Pantages Theatre on Oct. 2. Pantages is owned by the Hennepin Theatre Trust, which is a publicly-funded entity. In addition to hosting the event, the Hennepin Theatre Trust is running ads to promote Franken’s comedy career, according to its Facebook ad library.
This is a screenshot of an ad the Hennepin Theatre Trust is running ahead of Franken’s next show.
The Trust says its “activity is made possible by the voters of Minnesota through a Minnesota State Arts Board Operating Support grant.” State records confirm that Minnesota’s Legacy fund provided $596,295 in 2019, $701,364 in 2020 and $603,934 in 2021. The Legacy fund was established in 2008 and has been used to pour millions of dollars into projects aimed at promoting LGBTQ performances. Read More
According to the Tennessee Department of Labor & Workforce Development, unemployment rates in nearly all of Tennessee’s counties decreased in August. This marks the second consecutive month the jobless situation has improved in 93 or more of the state’s 95 counties. Read More
Georgia has a lower percentage of unemployed residents now than it did immediately before COVID-19 arrived, with some locales, like Warner Robins, experiencing their lowest jobless rates ever.
In Sept. 2020, around six months after the pandemic hit, the small city just south of Macon had a 5.3-percent jobless rate. Two months ago, Warner Robins’s rate fell to 2.9 percent, the city never before having seen such a small fraction of its residents out of work. Read More
More than 100% of private sector jobs in Arizona have been recovered since the beginning of the COVID-19 pandemic, according to the August employment report.
The Arizona Office of Economic Opportunity report showed that Arizona has recovered 325,500 private-sector jobs since April 2020, representing 101% of private-sector jobs lost.
Between July and August, Arizona’s unemployment fell by about 13,000 people. The unemployment rate dropped from 6.6% to 6.2%, marking the largest rate decline of the year. Read More
Democratic West Virginia Sen. Joe Manchin reportedly said in private that the “strategic pause” he has pushed for regarding his party’s budget should last through the end of the year.
Manchin’s remarks, first reported by Axios, would mean a sharp departure from Democrats’ long-stated goals, which include passing both the budget and the bipartisan infrastructure bills before the end of September.
His remarks align both with a Wall Street Journal op-ed he wrote earlier this month and recent comments he made calling for a “pause” on the budget as Congress addressed other priorities ranging from a messy Afghanistan withdrawal to multiple natural disasters. Read More
Retail sales unexpectedly increased last month despite continued challenges facing the economy as it recovers from the coronavirus pandemic.
Sales ticked up 0.7% in August relative to July and totaled $618.7 billion, according to a Census Bureau report published Thursday. E-commerce, furniture, general merchandise, building materials and energy purchases drove last month’s sales increase.
Dow Jones economists had expected sales to decline 0.8%, CNBC reported. In July retail sales posted a sharp 1.8% decline as coronavirus cases surged, the Census report said Thursday. Read More
Debate over the welfare state is once again making headlines. On Monday, the expanded unemployment welfare system was finally allowed to expire after more than a year. Originally created as a “short-term” measure authorized for a few months in March 2020 then repeatedly extended, these benefits paid many of the unemployed more than their former jobs, with benefits reaching up to $25/hour in dozens of states.
Dozens of Republican-led states chose to end the benefits early. This week’s termination of enhanced benefits was in the Democrat-run states that maintained the expanded payouts, and with their lapse, the debate over whether these benefits were disincentivizing work was reignited. Read More
The global chip shortage is beginning to impact consumers, driving up prices of smartphones, vehicles and personal electronics as manufacturers struggle to keep up with rising demand.
“We’re seeing 5% to 10% price increases right now,” Glen O’Donnell, vice president and research director at Forrester, told the Daily Caller News Foundation. “They will increase more as this issue drags on.”
Semiconductors, the internal components essential to the functioning of almost every electronic device, have been in short supply since early 2020 due to high consumer demand of mobile electronics cloud services, and other products that require computer chips, according to O’Donnell. The COVID-19 pandemic exacerbated the problem by stalling semiconductor production and disrupting supply chains, with demand for consumer electronics only skyrocketing due to more people working from home. Read More
The expansion of several government programs last year likely prevented hunger from rising despite the sudden economic downturn caused by the pandemic, a study showed.
The percentage of U.S. households that reported food insecurity was virtually unchanged in 2020 compared to the year prior despite the recession, according to a report from the Department of Agriculture’s Economic Research Service released Wednesday. More than 20.5 million Americans lost their jobs in April 2020 as state and local officials implemented strict restrictions on business activity to curb the spread of coronavirus, Labor Department data showed.
“This is huge news — it shows you how much of a buffer we had from an expanded safety net,” Urban Institute researcher Elaine Waxman told The New York Times. “There was no scenario in March of 2020 where I thought food insecurity would stay flat for the year. The fact that it did is extraordinary.” Read More
The U.S. economy added 235,000 jobs in August and the unemployment rate fell to 5.2%, according to Department of Labor data released Friday.
The number of unemployed people decreased to 8.4 million, according to the Bureau of Labor Statistics report. Economists projected 720,000 Americans — roughly three times the actual number — would be added to payrolls prior to Friday’s report, The Wall Street Journal reported.
“Despite the delta variant, there is still an opening up of the service sector of the U.S. economy,” Nationwide Mutual Insurance Chief Economist David Berson told the WSJ. “While that started some months ago, it’s not nearly complete.” Read More
An index measuring inflation surged at an annual rate of 4.2% last month, reaching its highest level since 1991, according to the Department of Commerce.
The personal consumption expenditures (PCE) index, which measures prices, increased 4.2% in the 12-month period between August 2020 and July 2021, according to a Department of Commerce report published Friday. Excluding volatile food and energy prices, the index spiked 3.6%, the report showed.
The last time consumer prices increased this much in one year was more than three decades ago in January 1991, CNBC reported. The figure reported Friday is in line with what economists expected. Read More
Retail sales in the U.S. declined in July as the number of coronavirus cases spiked, localities renewed some restrictions and businesses delayed their return to in-person work.
Sales dropped 1.1% in July compared to June and totaled $617.7 billion, according to the Census Bureau report released Tuesday. The decrease was driven mainly by declining used and new car sales, clothing purchases, building materials sales, sports goods sales and furniture purchases.
Economists expected retail sales to fall 0.3%, a relatively modest drop compared to the actual decline, CNBC reported. All major stock market indices declined between 0.5% and 0.8% on Tuesday morning following the worse-than-expected report. Read More
One promise from the U.S. economy emerging from the pandemic was that American workers would benefit from a tight labor pool driving up salary and pay. And while that happened, the benefits have all been erased by the sudden surge of inflation on President Biden’s watch.
That means workers aren’t running in place, they are actually falling behind as rising prices force middle- and working-class families to make hard choices, like whether to fill the gas tank or the refrigerator.
Inflation topped out at 5.4% in July, the government reported Wednesday, the third straight month above 5%. When President Trump left office in January, inflation was in check at just 1.4%. Read More
A new report from the payroll company PayChex ranked the states in order of small business job growth and Arizona came out No. 1, with nearly 6% growth over the past year. Phoenix ranked third among the country’s 20 most populated cities. The Arizona Legislature released a report shortly before that showing Arizona is in great condition, breaking records. The state passed historic tax cuts this year, preventing a 77% increase on small business taxes, reducing small business property taxes by 10%, and capping the maximum tax rate on businesses at 4.5%.
Frank Fiorelle, vice president of risk, compliance and data analytics at Paychex, explained that a lot of the job growth is due to the pandemic ending. “A lot of those restaurants are coming back online, opening the doors and turning on the lights, he said. He added that states which reopened their economies earlier have higher job creation rates. Read More
The U.S. economy reported an increase of 943,000 jobs in July and the unemployment rate fell to 5.4%, according to Department of Labor data released Friday.
Total non-farm payroll employment increased by 850,000 in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons decreased to 8.7 million. Economists projected 845,000 Americans would be added to payrolls prior to Friday’s report, The Wall Street Journal reported.
“The jobs recovery is continuing, but it’s different in character to any we’ve seen before,” payroll software firm ADP economist Nela Richardson told the WSJ. “I had been looking at September as a point when we could gain momentum—with schools back in session and vaccines widely available. But with the delta variant, we need to rethink that.” Read More
The Congressional Budget Office estimated Thursday that the bipartisan Senate infrastructure bill will add $256 billion to the deficit over the next decade, undercutting its backers’ claims the spending had been offset.
In FY2020, the deficit hit a record $3.1 trillion. So far in FY2021, the deficit is $2.2 trillion. The national debt is climbing to $29 trillion for the first time in U.S. history. Read More
The number of Americans filing new unemployment claims decreased to 385,000 last week as the economy continues its recovery from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a slight decrease in the number of new jobless claims compared to the week ending July 24, when 399,000 new jobless claims were reported. That number was revised down from the 400,000 jobless claims initially reported last week. Read More
Private companies added 330,000 jobs in July, far fewer than expected and the lowest amount since February, according to a major payroll report.
The 330,000 jobs added to private payroll last month represented a significant decline from the 680,000 jobs added in June, the ADP National Employment Report showed. Economists predicted that private companies would add 653,000 jobs in July, nearly double the number reported Wednesday, according to CNBC. Read More
Used car prices keep climbing in Detroit.
According to iSeeCars’ newest study, used car prices in June increased by 31.4% or $7,179, in Detroit year over year as a result of the microchip shortage and the COVID-19 pandemic. Read More
A new report from the Arizona Legislature’s Joint Legislative Budget Committee shows Arizona is in great economic condition, breaking records. Revenues from taxes are high or better than projected, with significant gains expected in the future, and personal income is growing at the fastest pace since 1985. It comes after Arizona passed historic tax cuts, reducing the personal income tax to the lowest flat tax in the country at 2.5%. However, some of the rosy picture is due to COVID-19 relief.
Governor Doug Ducey issued a statement about the report, “It paints a picture of a state economy that has emerged from the COVID-19 pandemic not only in great shape, but poised to achieve even greater accomplishments in the years ahead. The ‘extraordinary growth’ Arizona saw in Fiscal Year 2021 is positive news for every Arizonan. We are leading the way in the nation’s economic recovery.” Read More
When I went to pick up my laundry last week, one of the employees, who had just finished folding my clothes, began weeping. “This is the last load I’ll ever do here,” she said in a choked voice. “They’re letting us all go.”
That one little stifled sob described more than just one woman bemoaning the loss of her job. In it was the relentless cry of the average American who is increasingly crushed by the ignorance of our elites. Read More
A consumer price measurement used by the Federal Reserve to track inflation spiked again in June and hit its highest level since 1991, government data showed.
The personal consumption expenditures (PCE) price index increased 4% over the 12 months between July 2020 and June, according to a Bureau of Economic Analysis report released Friday. Excluding volatile energy and food prices, the index spiked 3.5% in that same 12-month period.
The index increased 0.5% in June, in line with economists’ forecasts, CNBC reported.
“Inflation has increased notably and will likely remain elevated in coming months before moderating,” Federal Reserve Board Chair Jerome Powell said during a press conference this week. “As the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices, particularly because supply bottlenecks in some sectors have limited how quickly production can respond in the near term.” Read More
On Monday, the Anti-Defamation League (ADL), a far-left hate group, announced a new initiative in conjunction with the online payment processor PayPal, aimed at targeting so-called “extremist and hate movements” on the platform, the Daily Caller reports.
The partnership is led by the ADL’s “Center on Extremism,” and will involve the ADL studying the use of PayPal’s services by alleged “extremists,” and sharing their findings with politicians and law enforcement, for the purpose of disrupting “the financial pipelines that support extremist and hate movements.” PayPal’s Chief Risk Officer Aaron Karczmer released a statement celebrating the new program as having the potential to make “an even greater impact than any of us could do on our own.”
PayPal has frequently and exclusively targeted conservatives in recent years, while ignoring actual extremism from the Left. Following the peaceful protests at the United States Capitol on January 6th, PayPal suspended its services for several organizations and individuals that paid for travel expenses for people attending the march, which was in protest of the widespread voter fraud that took place in the 2020 election. PayPal also banned the anti-terrorism website Jihad Watch in August of 2017, after Antifa and Black Lives Matter rioters attacked a peaceful right-wing protest in Charlottesville, Virginia, leading to the death of one left-wing protester. Read More
Treasury Secretary Janet Yellen warned congressional leaders Friday that failing to raise the debt ceiling would risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”
In a letter, Yellen said that she did not know how long the Treasury Department could prevent the U.S. from defaulting on its debt, which could carry catastrophic economic consequences. The debt ceiling is set to expire on Aug. 1. Read More
As President Joe Biden faces concerns over the economy and the crisis at the southern border, his polling numbers have dipped to the lowest point since he took office.
Polling data released by Gallup found that Biden’s approval rating has dropped to 50%, down six points from the previous month. Read More
Friday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Wall Street expert and Fox Business contributor Liz Peek to the newsmakers line to discuss the consequences of reckless budget spending, raise increases, and inflation. Read More
The number of Americans filing new unemployment claims increased to 419,000 last week as the economy continues its recovery from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a large increase in the number of new jobless claims compared to the week ending July 10, when 368,000 new jobless claims were reported. That number was revised up from the 360,000 jobless claims initially reported last week. Read More
Small business owners are continuing to have problems attracting new workers in the wake of the coronavirus pandemic and are trying to entice them with new incentives, a new report from the U.S. Chamber of Commerce shows.
“Small businesses are bearing the brunt of the current worker shortage,” said Tom Sullivan, vice president of small business policy at the Chamber. “Many have given up on actively recruiting new workers as it is too hard to find skilled and experienced workers for their open positions.” Read More
Recent Bureau of Labor Statistics data revealed that the nation hit a record high for job openings in April of 2021, yet employers around America are not receiving enough job applications to fill their available positions.
Though the Bureau of Labor counted 9.3 million job openings in June, the unemployment rate remains at 5.8%, notwithstanding the millions of Americans not seeking employment.
Express Employment Professionals, a staffing agency, suggested in a press release that stimulus payments, unemployment benefits, and recent tax refunds are deterring job applications as those on the hunt for employment have the option to hold out for jobs which meet their demands and goals. Read More
Wildly excessive federal spending is causing major inflation and shortages, which may lead to a recession and perhaps a financial crisis. Despite the evidence of inflation, Congress is proposing to spend $3.5 trillion on top of the $1.9 trillion COVID relief bill passed earlier this year and the intended $1.2 trillion infrastructure bill. For comparison, federal revenue is only expected to be $3.8 trillion this year.
Evidently, the Democratic Party and President Joe Biden have adopted Modern Monetary Theory (MMT) to the peril of every American citizen. MMT, which is similar to Keynesian economics, says that the U.S. should not be constrained by revenues in federal government spending since the government is the monopoly issuer of the U.S. dollar. MMT is a destructive myth that provides cover for excessive government spending. And it’s not modern, since reckless government spending has been around for thousands of years.
Embracing MMT is similar to providing whiskey and car keys to teenage boys. We know the outcomes will not be good. Read More
Thursday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Former Tennessee House Speaker Beth Harwell in studio to discuss her career and the importance of teaching our future generations to love their country. Read More
U.S. retail sales jumped in June, boosted by states widely loosening coronavirus restrictions and businesses returning to full capacity.
Retail sales increased 0.6% and totaled $621.3 billion in June, according to the Department of Commerce report released Wednesday. The monthly increase was driven by general merchandise, including food service, clothing, personal care, electronics and gasoline sales, the report showed.
“Sectors that were buoyed by the pandemic are slowing down a little bit, but not to a degree that I’d be concerned about,” Square economist Felipe Chacon told The Wall Street Journal. “Household finances have been bolstered by a few rounds of stimulus spending, so it bodes pretty well.” Read More
Democratic New York Rep. Alexandria Ocasio-Cortez urged illegal immigrants who are parents to children born in the U.S. to register for President Joe Biden’s child care tax credit payments on Thursday, video shows.
Parents and guardians will receive checks of $250 to $300 per child monthly until the end of 2021 including undocumented adults who care for children with valid Social Security numbers, according to Ocasio-Cortez.
“These centers are also offering help to undocumented folks with eligible children,” Ocasio-Cortez said. “So any child with a social security number is eligible. Do not count yourself out … if a parent and guardian is undocumented.” Read More
President Joe Biden’s competition and antitrust executive order will harm American consumers, groups representing both large and small businesses said.
The leading groups — including the Chamber of Commerce, Job Creators Network (JCN) and the National Association of Manufacturers (NAM) — slammed Biden’s executive order, arguing that it will harm competition and present a host of challenges to small businesses. The business groups said the order is an example of big government attempting to exert control over the free market via onerous rules and regulations.
“This executive order amounts to a bizarre declaration against American businesses, from the largest to the smallest,” Small Business and Entrepreneurship (SBE) Council Chief Economist Raymond Keating said in a statement. “It’s hard to understand why a White House would go down such a path, especially as the economy is digging out from the COVID-19 disaster.” Read More
The number of Americans filing new unemployment claims increased to 373,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a slight increase in the number of new jobless claims compared to the week ending June 26, when 371,000 new jobless claims were reported. That number was revised up from the 364,000 jobless claims initially reported last week.
Economists expected Thursday’s jobless claims number to come in around 350,000, The Wall Street Journal reported. Read More
With President Biden pressing on with attacks against America’s oil and natural gas workers to push his environmental agenda, it’s past time to shed a little light on the failure he’s promoting. He may claim that his proposal to produce 80% of America’s electricity through non-carbon sources is a bold new idea, it’s actually a green failure that he’s trying to recycle…and we’ve got the receipts from two states to prove it.
Let me introduce you to California and Arizona, two neighboring states where one has embraced the Biden Green Plan for years while the other rejected it. Rest assured, Biden, John Kerry, and their army of eco warriors are hoping you ignore the following inconvenient truths. Read More
In November 2018, Arizona voters soundly defeated Prop 127 by a margin of more than 2 to 1. The ballot measure was heavily pushed by former presidential candidate current extreme eco-leftist billionaire Tom Steyer. Similar to Biden’s plan, Prop 127 required Arizona to get 50 percent of its power from “renewable” sources by 2030. Keep in mind, these are the same voters that would elect a Democrat to the US Senate and give its electoral votes to Biden just two years later, tipping the presidential race toward the left. In other words, Prop 127, less restrictive than the Biden plan, proved to be too extreme for down-the-middle voters.
The White House Facebook page crowed, “3,000,000 jobs created since President Biden took office” in response to the Labor Department’s Employment Situation report on July 2. But do they deserve any credit for these job gains? Read More
As a very young man, I was fortunate enough to start my own company out of my apartment using a small amount of investment capital from friends and family. Over time, that business grew to have over 6,000 employees and revenues in excess of $2 billion. Over nearly a 40-year span, my team and I built what some would consider a remarkable track record, as measured by both sales and profits.
Because of my experience growing that business, I feel a special kinship with small, privately owned businesses and their owners. I also come from a middle-class background, one that shaped me into the person I am today. It is through both the lens of entrepreneur and member of the middle-class that I look through when reflecting upon this Independence Day. Read More
The U.S. economy reported an increase of 850,000 jobs in June and the unemployment rate ticked up to 5.9%, according to Department of Labor data released Friday.
Total non-farm payroll employment increased by 850,000 in June, according to the Bureau of Labor Statistics report, and the number of unemployed persons increased to 9.5 million. Economists projected 700,000 Americans would be added to payrolls prior to Friday’s report, according to The Wall Street Journal.
“This is a trickier phase of the recovery,” Wells Fargo senior economist Sarah House told The New York Times. Read More
The only grocery store in Point Roberts, Washington, will be forced to close if travel restrictions between the U.S. and Canada aren’t lifted by July 15, the Associated Press reported Thursday.
Point Roberts Marketplace store owner Ali Hayton said the market relies on shoppers who haven’t been able to visit for more than 15 months and that government assistance did little to help the struggling shop, the AP reported. The store received two loans from federal pandemic relief programs, though the funds were used in a week.
“Now that I see that there is absolutely no end in sight, I can’t do it anymore,” Hayton said, according to the AP. “I cannot financially keep subsidizing all of this by myself.” Read More
Maryland officials say they suspect over 508,000 new, potentially fraudulent unemployment claims have been filed since May.
The announcement Monday followed the state saying it has verified over 1.3 million fraudulent claims since the beginning of COVID-19 pandemic.
The most common means of filing a fraudulent claim is identity theft, according to CNN. Read More
Just 14 states saw positive employment growth between April and May while the majority of the growth was concentrated in a handful of states, according to the Department of Labor.
Fourteen states led by California, Florida and Texas experienced significant job growth, 35 states experienced stagnant job growth and Wyoming saw a decline in employment last month, according to a Department of Labor report released Wednesday. Overall, the unemployment rates in 21 states decreased between April and May while every state’s employment improved compared to May 2020.
While the U.S. continues to report increased job growth, the report showed that the vast majority of the growth has come from about a dozen states. Read More
The number of Americans filing new unemployment claims decreased to 411,000 last week as the economy continues to recover from the coronavirus pandemic, according to the Department of Labor.
The Bureau of Labor and Statistics figure released Thursday represented a decrease in the number of new jobless claims compared to the week ending June 12, when 418,000 new jobless claims were reported. That number was revised up from the 412,000 jobless claims initially reported last week.
Economists expected Thursday’s jobless claims number to come in around 380,000, The Wall Street Journal reported. Read More
Are you having a hard time understanding why the housing market is heating up, and why the cost of essentials such as milk, eggs, and gas is climbing? Are you in the market for a used car? Then you know how expensive those are right now. And why can’t businesses find employees, yet millions remain unemployed? Economists agree the recovery isn’t like anything we’ve seen before. That’s because we’ve never had a situation before where the heavy hand of government shut down private enterprises on a nationwide scale. The market distortions are enormous. As states reopen, there is a herky-jerky feel to the economy that has many people unsettled.
Former Federal Reserve vice chairman Alan Blinder wrote in the Wall Street Journal recently, “the recovery is not linear. Rather, it is proceeding in fits and starts. Sales of physical goods, for example, dipped only briefly when Covid hit, recovered quickly, and are now well above their pre-pandemic levels. In stark contrast, businesses that deliver personal services, such as restaurants and hotels, suffered a devastating depression and are still below their pre-pandemic levels.”
By far the most uneven outcome so far since the economy crashed in spring 2000, besides the 7.6 million fewer jobs compared to pre-pandemic levels, has been inflation, which is up 5 percent the past 12 months. Read More