With terrible new jobs numbers and rising inflation, CBS This Morning on Thursday made excuses for the Joe Biden economy, trying to find reasons not to blame the Democratic President. Reporter Ed O’Keefe explained that 11 Republican governors are pulling out of a program that raised unemployment checks by $300 a week.
O’Keefe conceded, “It comes as most recent job numbers were surprisingly low, just 266,000 jobs were added in April despite eight million job openings economists predicted the country would get at least a million jobs.”
Whose fault is that? O’Keefe offered excuses:
Republicans say that’s because of the unemployment money. It’s discouraging people from going to work. The White House disagrees. We spoke with some economists who said there were factors like vaccination rates, the lack of school openings, the lack of childcare that could be keeping people from going back to work.
The spinning for Biden continued as all this was dismissed as “unique”: “Economists acknowledge we're in some pretty unique economic times, that's why the White House wants to get this infrastructure deal done.”
Finally, at the end of the segment, a bit of GOP perspective: “It's also why Republicans say perhaps we should be a little more modest in the spending.”
But nothing in the segment – or the whole show on Thursday – about other economic factors, such as inflation. As National Review explained:
The Consumer Price Index (CPI), which tracks the cost of a variety of consumer goods as well as housing and energy prices, has risen 4.2 percent from a year ago, notably higher than the estimated 3.6 percent. It is the largest yearly increase since September 2008.
Even controlling for food and energy prices, the CPI was up three percent, higher than the estimated 2.3 percent. The 0.9 percent CPI increase from March, again controlling for food and energy prices, is the highest since April 1982.
The Washington Times on Thursday echoed this point and offered a perspective not seen on CBS: “President Biden’s second 100 days are off to a woeful start, including a gas shortage for much of the East Coast, a surge of inflation, a slowdown in hiring despite a record number of job openings, renewed fighting in the Middle East and an unresolved border crisis.”
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A transcript is below. Click “expand” to read more.
CBS This Morning
5/13/2021
8:02
GAYLE KING: We're going to begin with this -- maybe this is not so exciting for some people. It's a group of Republican senators going to the White House later today to talk with President Biden about his nearly $2.3 trillion infrastructure plan. The President is trying to find common ground and support from those Republicans. Ed O'Keefe is at the White House with more on this story. Ed, we just told you about Tony. I know you're excited, too. But I know you want to talk about this. What's at stake in this meeting, Ed O’Keefe?
ED O’KEEFE: Way to sell it, gosh. I like babies, too. This is important news because -- Here's why -- and we wish Tony and Katy all the best as we wait for that. Reason why this matters today -- this meeting going on today, probably the most important in town because it's going to probably set the tone for whether or not Washington can work together, Democrats and Republicans, to get anything done on infrastructure in the next few months. It may also set the pace of the economic recovery. The President set to meet with these six Republican senators responsible for spending, transportation and infrastructure issues. They'll discuss the size and scope of an infrastructure deal and how to pay for it.
The price tag's one of the biggest hurdles, and the President's already facing notable resistance from Republican governors over increased unemployment benefits. So far, at least 11 GOP governors are pulling out of a program Mr. Biden implemented that raised unemployment checks by $300 a week. The program is set to end in September. But unemployed workers in these 11 states will see their payments shrink as early as next month. That comes as the most -- as most economists say -- sorry about that. It comes as most recent job numbers were surprisingly low, just 266,000 jobs were added in April despite eight million job openings economists predicted the country would get at least a million jobs.
Some are having trouble hiring workers. Republicans say that’s because of the unemployment money. It’s discouraging people from going to work. The White House disagrees. We spoke with some economists who said there were factors like vaccination rates, the lack of school openings, the lack of childcare that could be keeping people from going back to work. Economists acknowledge we're in some pretty unique economic times, that's why the White House wants to get this infrastructure deal done. It's also why Republicans say perhaps we should be a little more modest in the spending. GOP aides we spoke with said they're going to give the President about another week to signal if he's serious about working with Republicans or will giver up on bipartisan talks. Anthony?
