Job growth expected to slow by 80% before this year's election

 Trump Train News:

Democratic strategists and party leaders are visibly anxious about the upcoming presidential election. But, if a little-noticed report issued last month by the Congressional Budget Office (CBO) is to be believed, the president’s troubles have only started.

According to the report, “CBO’s Current View of the Economy From 2023 to 2025,” the economic growth rate will fall by 40% this year while the unemployment rate ticks up and job growth slows to a crawl.

More precisely, CBO anticipates monthly job growth will drop by 80% in the months leading up to the election. This promises to swell the ranks of the unemployed by more than 1,000,000, or nearly 20 percent.

If CBO’s forecast proves accurate, the timing could hardly be worse for the Biden campaign.

Voters are already uneasy with the state of the economy and President Joe Biden’s handling of it. A Gallup poll finds that only 32% of Americans and a mere 24% of political independents approve of the way President Biden is handling the economy.

Worse yet, a recent YouGov poll finds that a plurality of respondents (41%) think the economy is currently in recession. While 22% say they believe the economy is getting better, 45% say it is getting worse.
...

While the inflation rate is expected to fall it will still be impacted by the high inflation in the earlier years of the Biden administration when he and the Democrats in Congress engaged in reckless spending in response to the Covid pandemic. 

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