{"id":138669,"date":"2022-04-01T18:14:22","date_gmt":"2022-04-02T01:14:22","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=138669"},"modified":"2022-04-01T19:59:32","modified_gmt":"2022-04-02T02:59:32","slug":"president-biden-on-the-march-jobs-report","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=138669","title":{"rendered":"President Biden on the March Jobs Report"},"content":{"rendered":"<p>Washington, DC&#8230;Good morning.  Today, we learned that in March, our economy created 431,000 jobs.  Nice sound to it.  And we also learned that in January and February, our economy created 100,000 more jobs than had \u2014 we previously had thought.  That means that over the last three months, the economy has created more than a half million \u2014 more than 500,000 jobs a month.<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/-356DujAYCs\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Over the course of my presidency, our recovery has now created 7.9 million jobs \u2014 more jobs created over the first 14 months of any presidency in any term ever.  And that\u2019s striking. <\/p>\n<p>But what\u2019s even more striking is this: In March, the unemployment rate fell to 3.6 percent, down from 6.4 percent when I took office about 15 months ago \u2014 the fastest decline in unemployment to start a President\u2019s term ever recorded.  <\/p>\n<p>In fact, there have been only three months in the last 50 years where the unemployment rate in America is lower than it is now. <\/p>\n<p>And that me- \u2014 what it means is clear, is very clear: Americans are back to work.  And that\u2019s good news for millions of families who have a little more breathing room and the dignity that comes from earning a paycheck \u2014 just the dignity of having a job.<\/p>\n<p>And more and more Americans get jobs \u2014 as they do, it\u2019s going to help to ease the supply pressures we\u2019ve seen.  And that\u2019s good news for fighting inflation, it\u2019s good news for our economy, and it means that our economy has gone from being on the mend to being on the move.<\/p>\n<p>You know, the American people, I think they \u2014 they\u2019re beginning to understand that the American Rescue Plan \u2014 and there\u2019s no reason why they should know the names of all these pieces of legislation that got passed \u2014 but the American Rescue Plan, with it, we were able to get Americans vaccinated, schools open, and businesses humming. <\/p>\n<p>A leading financial firm, Moody\u2019s, estimated that because of the Rescue Plan, 4 million more American jobs were created and unemployment is 2 percent lower than it would have been had we failed to move that legislation.  <\/p>\n<p>Thanks to our infrastructure law, we have more than 4,000 projects getting started this year \u2014 4,000 \u2014 in every single state in America \u2014 a total of 4,000 in all 50 states, rebuilding America. <\/p>\n<p>We\u2019re building a recovery worth of \u2014 worthy of American workers: strong and resilient.  And it\u2019s going to be able to overcome the headwinds \u2014 and it has \u2014 of Delta, Omicron, and even war in Europe.<\/p>\n<p>Our policies are working.  And we\u2019re getting results for the American people \u2014 which is what it\u2019s all about, to state the obvious.<\/p>\n<p>Record job creation.  Record unemployment declines.  Record wage gains.  And, by the way, jobs and unemployment are not just another statistic.  They go directly to the core of what the economy represents: the ability for hardworking Americans to live with dignity, support their families, and build a better life for their children. <\/p>\n<p>People are making more money.  They\u2019re finding better jobs.  And after decades of being mistreated and paid too little, more and more American workers have real power now to do \u2014 get better wages and to do what\u2019s best for themselves and their families.  <\/p>\n<p>Some people see that as a problem; we\u2019ve had this discussion in the past.  I don\u2019t.  I see it as long overdue. <\/p>\n<p>So when you hear these numbers, they\u2019re not statistics; it\u2019s a statement of the type of economy we\u2019re fighting for \u2014 an economy, as I\u2019ve been saying from the beginning, built from the bottom up and the middle out \u2014 not from the top down.  When we do it that way, everybody does well, everybody wins. <\/p>\n<p>Even though we\u2019ve created a record number of jobs, we know \u2014 I know \u2014 that this job is not finished.  We need to do more to get prices under control. <\/p>\n<p>Putin\u2019s invasion of Ukraine has driven up gas prices and food prices all over the world.  To help deal with that, yesterday I authorized the release of 1 million barrels per day for the next six months from our Strategic Petroleum Reserve.   <\/p>\n<p>I acknowledge this, by far, is the largest release from our national reserves in our history.  It is a wartime bridge \u2014 is the way I look at it \u2014 to increase our oil supply as we work with our oil \u2014 U.S oil producers to ramp up their production to get us through this period. <\/p>\n<p>I\u2019ve coordinated this release with partners and allies around the world.  This morning, over 30 countries from across the world convened an extraordinary meeting and agreed to the release of tens of millions of additional barrels of oil onto the market.  <\/p>\n<p>Hundreds of hours of meetings with key allies, keeping them together, is paying off.  Nations are coming together to deny Putin the ability to weaponize his energy resources against American families \u2014 not only American families, but families in Europe and around the world.<\/p>\n<p>I\u2019ve also made it a priority to get America\u2019s fiscal house in order.  Under my predecessor, the federal budget deficit went up every single year \u2014 every year.  As I committed when I was running and I got here, we\u2019re going to turn that around.<\/p>\n<p>In fact, last year, in 2021, we cut the federal deficit by more than $350 billion.  And this year, in 2022, we\u2019re on track to cut the deficit by more than $1.3 trillion \u2014 $1.3 trillion.  That would be the largest one-year reduction in the deficit in U.S. history.  And it\u2019s particularly important now as we work to reduce pressures on inflation.  That\u2019s what happens when you reduce the deficit. <\/p>\n<p>So here are the facts: It was the previous administration whose reckless policies and mismanagement led to the record budget deficits.  In my administration, that\u2019s getting the deficit under control. <\/p>\n<p>In fact, I just released my budget this week, and it shows, going forward, we can cut the deficit by another $1 trillion over the next decade while still making prudent investments in economic growth, in climate, and other equitable economic decisions.  <\/p>\n<p>But to do that, we have to be willing to do something previous administrations and Republicans today refuse to do.  We need to make sure corporations and the super wealthy begin to pay their fair share. <\/p>\n<p>Here\u2019s one example: Right now, billionaires \u2014 and there\u2019s not a whole lot of them in the country; maybe I won\u2019t give a number because I don\u2019t know for sure.  They \u2014 they average less than 1 percent.  But my point is billionaires pay an average rate of only 8 percent on their total income.<\/p>\n<p>A family led by a firefighter and a teacher can pay double that income tax rate \u2014 double what a \u2014 what a billionaire pays; double the 8 percent. <\/p>\n<p>So my budget has a Billionaire Minimum Tax \u2014 a 20 percent minimum tax that applies only to the top one \u2014 one-hundredth of one \u2014 one-hundredth of 1 percent of American households. <\/p>\n<p>The Billionaire Minimum Tax is fair.  And here\u2019s the deal: It raises $360 billion that can be used to lower costs for families and cut the deficit.  It would add \u2014 it would \u2014 and I would add, nobody making less than four \u2014 and you\u2019re tired of hearing me say it, but no one making less than $400,000 a year will pay a single penny more in federal taxes.<\/p>\n<p>As I\u2019ve said in the past, I\u2019m a capitalist.  I have no problem with people making as much money as they are capable of making.  But I\u2019m asking you one simple question: Just pay your fair share.  Pay your fair share.  That\u2019s all.  That\u2019s it.  Just your fair share.  <\/p>\n<p>And no one can argue that 20 percent for a billionaire is unfair.  <\/p>\n<p>Here\u2019s what this adds up to: We\u2019re going to continue to create jobs, bring down the cost for families, and rein in deficits left by my predecessor \u2014 all important steps in our pro- \u2014 to continue our historic progress to build a better America.  <\/p>\n<p>I said from the outset we\u2019re the only country in the world that\u2019s comes out of crises stronger than we went into them.  That\u2019s what we\u2019re doing here. <\/p>\n<p>I want to thank you all for showing up today.  And we\u2019ll have plenty of time to answer questions about other items other than the \u2014 the jobs report next week.  Thank you.  Appreciate it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Good morning. Today, we learned that in March, our economy created 431,000 jobs. Nice sound to it. And we also learned that in January and February, our economy created 100,000 more jobs than had \u2014 we previously had thought. That means that over the last three months, the economy has created more than a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":138677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-138669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2022\/04\/Chrome-Legacy-Window-412022-75810-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/138669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=138669"}],"version-history":[{"count":2,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/138669\/revisions"}],"predecessor-version":[{"id":138678,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/138669\/revisions\/138678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/138677"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=138669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=138669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=138669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}