The economy is better than people think. It is actually much better than people think. But what does it even mean when one says that people don’t realize how well the economy is doing? The definition of a good economy is one that people agree is good.

What to do?

Get the information out there. The problem is that a lot of the time people aren’t really listening, especially to the White House, especially in summer. So it takes something special, something unusual, something personal. You make a gloating announcement, licking your lips about your good fortune, and then you stick a fork in your predecessor by calling him out by name, something that is just “never done.”

During today’s announcement of a shockingly good jobs report, Biden said:

“Today, we learned that our private sector has recovered all of the jobs lost during the pandemic, and added jobs on top of that. “We have more Americans working in the private sector today than any day during Donald Trump’s Presidency – more people than any time in our history.”

There you go, suck on that a bit.

And the best part is that Trump will not be able to help himself. Trump will respond and, even though the hardcore MAGAs won’t care, they will learn WHY Trump is responding. Trump is responding to Biden announcing “good news on the economy…”

And so that’s how it is done, that is how you get people to understand that the economy is better than they think, stronger than they think, we’re not falling off a cliff. Economics is a science, and we have better data and better scientists (with a lot more computing power) than we did in the 1970s. The Fed immediately upped interest rates to throttle inflation, which has slowed tremendously, and the economy is not about to fall off a cliff. Now it’s just a matter of letting people know. As said above, a good way is to troll your predecessor, by name.

FULL STATEMENT

Today, we learned that our private sector has recovered all of the jobs lost during the pandemic, and added jobs on top of that. This has been the fastest and strongest jobs recovery in American history, and it would not have been possible without the decisive action my Administration took last year to fix a broken COVID response, and pass the American Rescue Plan to get our economy back on track.

In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic. We have more Americans working in the private sector today than any day during Donald Trump’s Presidency – more people than any time in our history.

The historic strength of our job market is one reason our economy is uniquely well positioned to tackle a range of global economic challenges – from global inflation to the economic fallout from Putin’s war. No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.

Of course, having added a record number of new jobs, and achieved historically low levels of unemployment, additional job growth from this strong position will be slower. That is not a bad thing, because our economy should move to stable growth for the years ahead.

The best way to achieve that goal is for Congress to pass legislation that lowers costs for families – from prescription drugs to utility costs – while reducing the federal budget deficit, in addition to passing the Bipartisan Innovation Act.

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[email protected], @JasonMiciak, with Nicole Hickman