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The Commerce Department requested that private companies comment on the implications of the rule by March. The final decision will fall to the Trump administration.
House Speaker Mike Johnson on Friday will put lawmakers on record whether they support a change to the arcane procedure that fired his predecessor.
Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge.
Just what kind of economy are they handing to President-elect Donald Trump? Now that the election’s over, President Joe Biden ’s minions are letting the terrifying economic data out of Biden’s statistical gimp box.
Last week, the Philadelphia Fed flagged yet another massive jobs revision, estimating in a new study that jobs actually fell in the second quarter of this year, April to June. That compares with official numbers claiming 653,000 jobs were created in those three months.
In other words, we’re looking at another massive revision—possibly 700,000 in more fake jobs brought to you by the finest statisticians money can buy.
Note, this is on top of the Bureau of Labor Statistics’ revision in August that erased 818,000 imaginary jobs between March of 2023 and this year. That revision wiped out 115,000 manufacturing jobs, 129,000 in retail, 150,000 in restaurants and hotels, and 358,000 professional jobs.
Put it together, and we could be looking at 1.5 million imaginary jobs “magicked” away.
Note, that’s not including the past six months—which could bring it to 2 million.
Now, I’m old enough to remember when you were crazy for questioning government statistics. Now you’re crazy not to question them.
That shouldn’t be surprising to anybody who’s been paying attention to what’s happening on the ground. I’ve mentioned how, preelection, a majority of voters said we’re already in recession.
That’s striking when official statistics say we’re at 3% gross domestic product growth and 4.2% unemployment—striking enough for endless lectures from mainstream media trying to gaslight voters into a Kamala Harris presidency .
As the official numbers come clean, it’s looking dire on the ground. Continuing unemployment claims just hit a three-year high. Manufacturing is on a two-year downtrend, despite hundreds of billions in federal handouts flushed out to so-called green industries and semiconductor makers.
Total job openings in the economy is the lowest since COVID-19. In fact, job openings are down nearly 4.5 million since March of 2022.
A recent CNBC poll found Americans were spending less this Christmas by a margin of 2 to 1.
Bank of America found almost one-third of Americans spend “more than 95% of their disposable income” on necessities like housing, groceries, and utilities. A Lending Tree survey found a quarter of Americans were unable to pay the power bill at some point in the past year, while a third of Americans had to cut spending on necessities in the past year.
Finally, NBC reports that food banks are facing “record levels of need”—so much for the miracle economy on paper.
So, what’s next?
When Trump takes office Jan. 20, you can be guaranteed the media will pretend none of these problems existed until Trump showed up.
They’re already champing at the bit: A few days ago, New Republic ran an article called “We’re already seeing signs that Trump is tanking the economy.”
There will be much more to come.
We publish a variety of perspectives. Nothing written here is to be construed as representing the views of The Daily Signal.
The post The Economic Mess the Biden-Harris Admin Is Leaving for Trump appeared first on The Daily Signal .
A man was killed Thursday morning when he was hit by a Metra train near the Waukegan-North Chicago border, a spokeswoman for the commuter rail agency said.
The Lake County Coroner’s Office said an autopsy was being scheduled for the victim. His identity has not been released.
The man was hit at around 8:30 a.m. by a commuter train on the Union Pacific North Line that was inbound to Chicago and had originated in Kenosha, Wisconsin, Metra spokesperson Meg Riele said.
The incident happened near a small cemetery that is along the tracks near the border of North Chicago and Waukegan, Riele said. Authorities were still trying to determine what led to the fatal encounter, she said.
Metra service along the line was restored by late morning, she said.