The US economy added 850,000 new jobs in June, beating Wall Street's predictions and crushing Republican talking points.
"From a market perspective, this was an all-out positive jobs report,” said Seema Shah, chief strategist at Principal Global Investors, in a CNBC report. “The improvement today likely reflects a slight easing of the labor supply constraints that have been holding back the jobs market in recent months, as well as continued momentum from the economic reopening."
As Duncan wryly states, "+850K jobs means job killing inflation!"
Still, there's never a bad time for Republicans to claim tax cuts are the answer to all our problems.
Senator Chuck Grassley's latest tweet became an instant laughingstock.
US adds 850000 new jobs in June The pre pandemic best economy in 50 yrs started by Trump tax cut is roaring back after a virus interlude
— ChuckGrassley (@ChuckGrassley) July 2, 2021
My pal Thom Hartmann shot back:
Seriously, senator? Do you really think anybody believes this discredited Reaganomics crap anymore? https://t.co/2VI0RgxMaN
— Thom Hartmann (@Thom_Hartmann) July 2, 2021
Others piled on:
Seems unlikely- the last Q1 of Trump’s presidency- before covid came was already showing weakness. Tax breaks for the wealthy don’t stimulate the economy. https://t.co/u8gBDR3rXR
— Prairie Godzilla (@KatemootAdams) July 2, 2021
— #RIPGOP ™ (@_ReaalAmerican_) July 2, 2021