WATCH: Biden says he's leaving economy 'stronger than ever' for Americans as his term nears end
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President Joe Biden lauded his administration’s record on the economy after the labor department reported Friday a surge in job growth and decline in unemployment last month.

Summary

President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.

December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.

However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.

Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.

  • ubergeek@lemmy.todayEnglish
    105·
    2 days ago

    Inflation is a necessary evil,

    Only in a capitalist system, that requires the exploitation of labor…

    • djsoren19@yiffit.net
      73·
      2 days ago

      It’s required in any system that uses a fiat currency. Maybe a fiat currency is evil incarnate, but it also offers a lot of conveniences. Personally, I think I’d prefer having some number that translates my labor into spending units, and fiat currency works about as well as anything else when carefully managed.

      • ubergeek@lemmy.todayEnglish
        45·
        2 days ago

        Personally, I think I’d prefer having some number that translates my labor into spending units

        How about non-transferable labor vouchers?

        Even in a system with fiat currency, inflation is not a requirement. Its only a requirement under a capitalist system, that demands profits rise constantly.