Latest from Multi News Outlets

Barack Obama says Biden has ‘repaired the economy and kept unemployment low’ amid 8.2%

On-Demand Cloud SIP Trunking


On-Demand Cloud SIP Trunking

Former President Barack Obama said that President Biden has fixed the economy while keeping unemployment low amid an inflation rate of 8.2%.

Obama made the comments during a campaign event for Pennsylvania U.S. Senate candidate John Fetterman in Philadelphia on Saturday night.

“Think about what Joe Biden has already got accomplished. Despite historic pandemic, he not only repaired the economy and kept unemployment low, which, by the way, you should not take for granted, because a lot of folks thought with a historic pandemic like that and the shutdown, that we would potentially go into a Great Depression, and we did not,” Obama said.

Obama also said that Biden has “lowered health care and prescription drug costs” and passed an infrastructure bill “that will put more folks here in Pennsylvania and around the country to work and make our economy stronger.”

INFLATION SURGED MORE THAN EXPECTED IN SEPTEMBER AS PRICES REMAIN STUBBORNLY HIGH

Barack Obama

Former U.S. President Barack Obama speaks to supporters of Pennsylvania Democratic candidate for Senate John Fetterman at Schenley Plaza, on the campus of the University of Pittsburgh, on Nov. 5, 2022, in Pittsburgh, Pennsylvania.  (Jeff Swensen/Getty Images / Getty Images)

“If you help Democrats keep the House and get a few more seats in the Senate, you can guarantee he’ll make more progress on the issues you care about,” Obama said.

Employers in October added 261,000 nonfarm jobs, which were more than expected, while the unemployment rate increased slightly to 3.7%, up from 3.5% in September.

OCTOBER JOBS REPORT SOLID, MAKING FED’S INFLATION FIGHT HARDER

Joe Biden

President Joe Biden speaks about his student debt relief plan at Central New Mexico Community College, Thursday, Nov. 3, 2022, in Albuquerque, N.M.  (AP Photo/Patrick Semansky / AP Newsroom)

In January 2021, when Biden took office, the consumer price index, a measure of everyday items such as gasoline, groceries and rents, was climbing at a 1.4% annualized basis.

In September, prices climbed by 8.2% on an annual basis.

CLICK HERE TO GET THE FOX BUSINESS APP

Joe Biden, Barack Obama and Kamala Harris

President Joe Biden with former president Barack Obama and Vice President Kamala Harris for an announcement expanding access to coverage under the Affordable Care Act in the Rose Garden at the White House on April 5, 2022.  (Photo by Demetrius Freeman/The Washington Post via Getty Images / Getty Images)

When compared to the same time last year, core prices, which exclude food and energy, rose by 6.6%, the fastest rate since 1982.

FOX Business’ Megan Henney contributed to this report.



Read More: Barack Obama says Biden has ‘repaired the economy and kept unemployment low’ amid 8.2%

Leave A Reply

Your email address will not be published.