Nancy Pelosi ignores facts on jobs, consumer confidence in astounding video
House Minority Leader Nancy Pelosi misled a group of reporters during a press briefing on Thursday as she downplayed the current unemployment rate and said what really matters is consumer confidence, completely ignoring the stark reality that the figure is at an 18-year high.
photo/ donkey hotey
Pelosi’s comment comes after last Friday’s jobs report which showed that the unemployment rate is at 3.8 percent, the lowest rate in 50 years.
“Well, as I said, unemployment rate is one indication,” Pelosi said. “The fact is, and this has happened before, that people say, ‘Oh my goodness, that people are saying the unemployment rate is down, why isn’t my purchasing power increasing?'”
“So, this isn’t just about the unemployment rate, it’s about wages rising in our country, so that consumer confidence is restored,” Pelosi continued. “Because our economy will never fully reach its possibilities unless we increase the consumer confidence and that can only be increased by a better deal, better jobs, better wages, better future, and lowering costs to families — whether its prescription drugs, by really lowering the cost of prescription drugs — and that list goes on.”
Check out the clip below.
Pelosi ignores the impact of Obamacare and the Trump turn around.
The Consumer Confidence Index rose to 128, surpassing the April estimate of 125.6 . As per the Conference board, the confidence level has touched an 18-year high. This is better than March, when the index stood at 127. Americans were optimistic about their finances and felt that cracking jobs has become comparatively easier.
As per a survey by JPMorgan , conducted on 1685 executives, 64% of entrepreneurs were willing to increase full-time employees while 76% talked about increasing compensation. So hiring in the second quarter is expected to rise, along with consumer spending. The corporate sector is also looking to increase profits with lower tax and a developed start-up ecosystem generating new business models along with revenues.
