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Biden says those collecting unemployment must take job offers ‘or lose their unemployment benefits’

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Following the release of the April jobs report on Friday, President Biden addressed the public Monday to clarify his unemployment policy. “We’re going to make it clear that anyone collecting unemployment who is offered a suitable job must take the job or lose their unemployment benefits,” Biden said. “That’s the law . . . We’ll insist that the law is followed with respect to benefits.”

“There’s been a lot of discussion . . . that people are getting paid to stay home rather than go to work,” Biden said, referring to the reaction to the lack luster jobs report. “We’re not seeing evidence of that.”

Just before Biden’s statement, Press Secretary Jen Psaki alluded to that same point earlier Monday.

“The majority of economists, internally and externally of the White House, don’t feel that unemployment insurance – something that was done at a time where, to help unemployed people get through a very difficult economic downturn, during a pandemic – is a major driver in our unemployment data, that there are other factors, bigger factors that were contributing,’ Psaki said.

She said one factor could be the low number of vaccinations at the time the data was recorded.

About 22 million people lost their job during this pandemic “to no fault of their own” Biden said. Yet still, there are 8 million fewer jobs today than when the pandemic started.

You can follow Jenny Goldsberry on Twitter @jennyjournalism

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Economy

Federal Reserve Economist on hidden camera: ‘we don’t want Trump to be in the government’

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Hidden Camera captures Principal Economist at the Federal Reserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” According to hidden camera footage of Aurel Hizmo, principal economist at the Federal Reserve, the U.S. agency could have fixed inflation a while ago but refused to do so for fear of hurting President Joe Biden’s re-election efforts.

Hizmo told an undercover reporter that the Fed stopped raising the rates to tackle inflation because it could cause a recession that would likely end Biden’s 2024 campaign.

The influential agency responsible for maintaining a stable monetary system appears to not just be establishing interest rates, but to be setting policies for desired social outcomes. “Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change.” Aurel Hizmo, Principal Economist at the Federal Reserve, who prior to working at the Fed was an Assistant Professor helps write speeches for Federal Reserve Board Chair Jerome Powell for the Federal Open Market Committee.

Hizmo says “Trump is just a crazy person” and conservatives are “dumb” as he describes to OMG’s American Swiper Citizen Journalist a politicized Federal Reserve Board where Powell has promoted ESG issues like climate change and “wants to be remembered in history” “as a savior.” But shhh…don’t tell anyone because Hizmo says: “I’m just really worried that I’m saying stuff that’s classified…It’s all classified.”

 

 

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