Robert Reich, former U.S. labor secretary in the Clinton administration, praised the financial state of the nation under President Joe Biden's watch during Wednesday's episode of MSNBC's "The ReidOut."
"It’s a Goldilocks economy," Reich told Reid. "I’ll tell you, I’ve been watching or participating in economic policy for at least 30 years, and I don’t recall an economy that is this good.”
Beforehand, Reid mentioned "manufactured Republican hysteria" and noted to Reich that "the more Republicans scream about drag queens and, you know, putting PragerU videos instead of real history in schools, it is an indication to me that they want to avoid talking about Bidenomics, because Bidenomics is actually working. Is that how you read it?"
Predictably, Reich replied, "I think that's exactly right, Joy. They are trying to deflect attention from the fact that the economy is great."
Following his eye-popping "Goldilocks" utterance, Reich added that "the Republicans basically want to, what? Do they want to talk about woke-ism? What is that? They want to talk about critical race theory? I mean, I don't think most of the country really cares about this stuff, but it is a deflection that at least among certain people in certain parts of this country is deflecting attention from what's really going on."
According to the Washington Examiner, Reich also told Reid he believes "that over the next six to eight months, Americans who now don't think the economy is all that good are going to realize that it is" and that "a lot of [the Inflation Reduction Act] is going to stimulate the economy exactly at the right time."
He made sure to fire another round at the GOP, noting to Reid that "you have a Republican Party that, as we've been talking about, is trying to tell people that things are terrible when, in fact, they're good," the paper said.
Not that it matters, but even CNN acknowledged last week that "the typical American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics."
Mark Zandi, chief economist at Moody’s Analytics, told CNN that families also are spending more at the grocery store, on buying, maintaining, and insuring vehicles, and on recreational services such as cable.
Observers on social media weren't buying Reich's words:
- "A little off," one commenter wrote.
- "[Because of] inflation, a family has $8,000 less discretionary income per year," another said. "That’s good?"
- "The evidence isn't on his side," another declared.
- "Biden’s energy policies and inflation will cost my school district over $70 million this school year," said another commenter who indicates he's a Texas school board trustee. "The impact from inflation is $855 per student times 80,000 students, and higher fuel costs take money away from operations — putting us in a very difficult position as we try to increase teacher pay."
- "Sounds like something a rich person would say," another commenter noted.
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