The latest jobs report disappointment led Steve Forbes to hammer the president for his “war on the economy” as he described White House economic policies.
In a Friday appearance on Fox News, Forbes said that the American economy “wants to move ahead” but is hitting “artificial barriers.” His appearance followed the poor report from the Labor Department indicating that the American economy generated just 210,000 new jobs in November. Projections were for 550,000 new jobs, meaning the actual number was less than half expected.
Forbes noted government overreach in response to COVID-19 and crackdowns on domestic energy production as part of his critique of the Biden White House. He said that the supply chain problems hampering the distribution of goods in the country are actually “underestimated when you shut down a global economy.” Forbes argued that lockdowns not only are “hugely disruptive” to the global economy but also “medically don’t work.”
Regarding gas price inflation, Forbes said that Biden has never explained how a barrel of oil from Russia is “somehow better for climate change” than a barrel produced in the United States. He said that the resulting mixed signals are causing malinvestment and damaging future investment prospects in the American economy.
Forbes said that the jobs report shows many small businesses “ready to go,” but the uncertainty of vaccine mandates and energy costs are holding things up. He added that if the Biden administration would “just get out of the way, the American people would do it.”
Regarding the Omicron variant of the coronavirus, Forbes said that the government is the problem, arguing that people fear what the government will do in the name of fighting Omicron “more than they do the variant itself.”
Mainstream economists had commented that the Omicron variant might lead to more economic contraction because of slower hiring, drawing parallels with the experience suffered when the Delta variant broke out.