Connect with us

Hi, what are you looking for?

Assets Under ControlAssets Under Control

Politics

White House insists Biden, Harris have ‘one of most successful administrations in history’ despite 2024 loss

Just weeks after Vice President Kamala Harris’ overwhelming loss to President-elect Donald Trump in the 2024 presidential election, the White House released a memo that hailed the Biden-Harris administration as one of the most successful in history.

The memo shared on Monday highlighted how President Biden and Harris took office during the COVID-19 pandemic and a ‘reeling’ economy, before going on to call their administration ‘one of the most successful administrations in history’ which ‘will be leaving behind the best economy in the world.’

‘Under President Biden and Vice President Harris’ leadership, 16 million jobs have been created, and we’ve gotten women and people of color back in the labor force at record rates,’ the memo stated. ‘A record 20 million new business applications have been filed, and inflation is down to near pre-pandemic levels.’

The White House added that ‘our success’ in these areas was due to ‘passing and implementing legislation that rebuilt our nation’s infrastructure, made the largest investment in climate action in history, lowered prescription drug costs, and spurred a manufacturing renaissance.’

The memo quotes unnamed ‘business leaders’ calling the U.S. economy ‘among the best performing economies’ in decades.

The latest jobs report released earlier this month, however, appears to show a different story.

The Labor Department report shows that just 12,000 jobs were created in October, far below estimates of up to 120,000 and were the lowest in four years. The unemployment rate was 4.1%, in line with expectations.

The cumulative effect of inflation has continued to weigh on many Americans.

The Labor Department’s inflation report for October found that the consumer price index — a broad measure of how much everyday goods like gasoline, groceries and rent cost — was up 2.6% from a year ago for the U.S. as a whole, in line with expectations as inflation ticked higher amid a broader cooling trend.

Days ahead of the presidential election, Trump campaign national press secretary Karoline Leavitt argued that ‘this jobs report is a catastrophe and definitively reveals how badly Kamala Harris broke our economy.’

On Election Day, the will of the American people was reflected in the vote totals and appeared to show a referendum on the policies of the Biden-Harris administration.

Trump beat Harris with a resounding 312 electoral votes to Harris’ 226, and with over 2 million more votes in the popular vote.

Fox News Digital’s Paul Steinhauser and Fox Business’ Eric Revell contributed to this report.

This post appeared first on FOX NEWS

You May Also Like

Editor's Pick

In this StockCharts TV video, Mary Ellen reviews the broad-based rally that pushed the Equal-Weighted SPX to new highs. She also shared base breakouts and...

Tech News

Image: Aqara Aqara’s Smart Valve Controller T1 is now available, bringing an interoperable Matter-compatible valve controller option to the smart home for the first...

Tech News

The original Steam Controller, and a prototype that preceded it. | Image: Sean Hollister / The Verge Two years ago, Valve told The Verge...

Tech News

Image: Cath Virginia / The Verge; Getty Images A new cell phone carrier is launching with an interesting pitch: it says it will offer...

Generated by Feedzy