Business
‘Shocking’ jobs number revision brings questions about Biden-Harris economy
From The Center Square
By
New federal economic data shows that previous data significantly overestimated the health of the U.S. economy.
The Department of Labor released revised jobs data that showed they overestimated the number of jobs created in the U.S. economy by 818,000, a whopping revision that set off alarm bells Wednesday.
Economic data is often revised, but the size of this change is large enough to raise eyebrows.
“Even this number is shocking, job growth is still positive,” Jamie Cox, managing partner for Harris Financial Group in Richmond, Va., said in a statement. “If you are in the rate cut in September camp, these data all but seal the deal on what Fed needed to cut rates.”
New federal economic data shows that previous data significantly overestimated the health of the U.S. economy.
The Department of Labor released revised jobs data that showed they overestimated the number of jobs created in the U.S. economy by 818,000, a whopping revision that set off alarm bells Wednesday.
Economic data is often revised, but the size of this change is large enough to raise eyebrows.
“Even this number is shocking, job growth is still positive,” Jamie Cox, managing partner for Harris Financial Group in Richmond, Va., said in a statement. “If you are in the rate cut in September camp, these data all but seal the deal on what Fed needed to cut rates.”
Casey Harper
D.C. Bureau Reporter
From LifeSiteNews
Trump said in his first cabinet meeting that his administration will soon begin placing tariffs on products from the countries of the EU, accusing the European Union of cheating the US.
President Donald Trump blasted the European Union during the first cabinet meeting of his new administration, saying that “The European Union was formed in order to screw the United States. That’s the purpose of it.”
“I love the countries of Europe,” Trump began, “but the European Union was formed to screw the United States.”
“Let’s be honest. The European Union was formed in order to screw the United States,” he reemphasized. “That’s the purpose of it.”
“And they’ve done a good job of it,” he said, before warning: “But now I’m president.”
Trump said that his administration will soon begin placing tariffs on the products of the countries of the EU.
Asked if he expected the EU to retaliate if the U.S. imposes stiff tariffs, Trump said: “They can’t. I mean they can try, but they can’t.”
“We are the pot of gold,” he explained. “We’re the one that everybody wants, and they can retaliate, but it cannot be a successful retaliation, because we just go cold turkey, we don’t buy any more, and if that happens, we win.”
From the LifeSiteNews
The work of DOGE is ‘not an optional thing. It is an essential thing,’ Elon Musk said. ‘If we don’t do this, America will go bankrupt.’
At the Trump administration’s first cabinet meeting, Elon Musk said that he’s “taking a lot of flak” for his work with the Department of Government Efficiency (DOGE), adding, “I’m getting a lot of death threats.”
“We simply can’t sustain as a country a two trillion-dollar deficit,” said Musk, explaining why the work of DOGE is so important to the functioning of the country.
“Just the interest on the national debt now exceeds Defense Department spending,” said the tech billionaire. “We spend a lot on the Defense Department, but we’re spending over a trillion dollars on interest. If this continues, the country will become de facto bankrupt.”
Only DOGE can save the US from bankruptcy
Musk said that the work of DOGE is “not an optional thing. It is an essential thing.”
“If we don’t do this, America will go bankrupt,” he emphasized. “That’s why it has to be done.”
“I’m confident at this point … that we can find a trillion dollars in savings,” he said. “That would be roughly 15 percent of the seven trillion-dollar budget.”
“And obviously that can only be done with the support of everyone in this room,” he said to the cabinet secretaries. “And I would like to thank everyone for your support.”
“DOGE is a support function for the president and for the agencies departments to help achieve those savings and to effectively find 15 percent reduction in fraud and waste,” he explained.
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