On cue, Paul Krugman, a New York Times columnist and Nobel Prize-winning economist, expressed his frustration last Thursday at the apparent disconnect between the public’s perceptions of the economic health of the country and the statistics.
I say “on cue” because President Joe Biden’s approval rating remains in the dumpster. The poor economy is one major reason.
Not so, according to Krugman. The economy is “booming,” said Krugman. He noted that Biden’s recent State of the Union made that clear. Last year, the United States added 6.5 million jobs, which was more than ever created in a single year. Krugman fact-checks these claims and declares them “entirely correct.” Of course, to any sensible person, these added jobs were not created in any sense of the word. The economy is still, by most employment measures, attempting to recover from the 2020 lockdowns and the associated transfer of wealth from Main Street to Wall Street.
