No evidence that Biden admin generated economic growth: Holtz-Eakin
American Action Forum President Douglas Holtz-Eakin weighs in on the Biden administration's economic track record and the feasibility of the wealth tax on 'Special Report.'
An MSNBC headline said Wednesday that despite low approval ratings, President Biden's economy was "booming."
In the clip shared by the outlet, MSNBC host Medhi Hasan described reports from January that the economy grew 5.7 percent in 2021 and wages increased.
"We're actually as a country, as a whole, doing pretty well. Especially compared to where we were not so long ago," Hasan said. "But you might not know that based on the headlines currently dominating economic news."
FILE PHOTO: Gas prices grow along with inflation as this sign at a gas station shows in San Diego, California, U.S. November, 9, 2021. REUTERS/Mike Blake ( REUTERS/Mike Blake)
The MSNBC host went on to note reports on inflation, which hit a 40-year-high in February, as it rose to 7.9 percent. Hasan said "everything does cost more" and reported that gas prices were especially costing Americans, which is averaging $4.25 per gallon.
He said the wage increases "are not keeping up with the higher prices."
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"Americans are feeling pain, that's obvious, that's true," Hasan said, adding that in addition, the partisan divide in the "political and media climate that we live in" might have contributed to Biden's low approval numbers.
Democratic presidential candidate former Vice President Joe Biden and his wife Jill Biden leave after they voted at the Carvel State Office Building, Wednesday, Oct. 28, 2020, in Wilmington, Del. (AP Photo/Andrew Harnik) (Associated Press )
Several Twitter users, including some high profile users, responded negatively to MSNBC's narrative. Actress Susan Sarandon listed inflation, record-high gas prices, an increase in the defense budget and lack of COVID relief, among other things, as potential reasons why Biden's approval rating is so low.
"You can try to tell people who just emptied their wallet to buy half a tank of gas or some basic groceries that the economy is "booming," but it won’t mean much to them.," political Science professor and columnist Eddie Zipperer said. "You simply cannot lie to people about how much money they have."
Congressional candidate Robby Starbuck said the only way the economy was "booming" was if Biden "strapped it to explosives" and it exploded everywhere.
Political commentator Tina Lowe said, "7.9% consumer inflation! Double digit producer inflation! Negative real wage growth and interest rates! A continually cratered labor force participation rate!"
Outkick founder Clay Travis said "nice work here MSNBC" and included a screenshot of the tweet.
Biden introduced his $5.8 trillion budget proposal Tuesday, which includes large investments for national security, including $773 billion for the Department of Defense.
President Joe Biden speaks about reaching 300 million COVID-19 vaccination shots, in the State Dining Room of the White House, Friday, June 18, 2021, in Washington. (AP Photo/Evan Vucci)
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The president said it "sends a clear message that we value fiscal responsibility, safety and security at home and around the world."
The budget also would increase law enforcement spending and would provide $303 million to expand on job opportunities in information technology, manufacturing, transportation and health care fields.
"All told, it is a budget that includes historic deficit reduction, historic investments in our security at home and abroad, and an unprecedented commitment to building an economy where everyone has a chance to succeed," the president said on Monday.
An NBC News poll found that 63% of Americans disapprove of Biden's handling of the economy, with just 33% who approve.
Biden's overall job approval dropped to 40%, according to the same poll.
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