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President Joe Biden celebrated the July jobs report — which surpassed even White House expectations — in a briefing where he highlighted the decreased federal deficit, calling it a welcome departure from the economic policies of former President Donald Trump.

On Friday, the Bureau of Labor Statistics released data from July’s job market showing a gain of 528,000 jobs during the month.

Many were stunned by the report, as economists had predicted that the U.S. economy would only gain 250,000 jobs in the July survey.

In the speech, Biden addressed the public from isolation, as he continues to test positive for Covid-19, while wearing his signature aviators.

“Almost 10 million jobs since I took office,” remarked Biden, “That is the fastest job growth in history.” The president added that the U.S. “matched the lowest unemployment rate in America in the last 50 years,” at only 3.5%.

Biden continued to celebrate his administration’s economic victory:

Today there are more people working in America than before the pandemic began. In fact, there are more people working in America than at any point in American history. You know, what we are also seeing is something that just a few years ago, many experts said was literally impossible, the revitalization of American manufacturing. Since I took office, we’ve created 642,000 American manufacturing jobs in America. We’ve seen the biggest and fastest job recovery in American manufacturing history since the ’50s. And some people may have given up on American manufacturing. But the American people didn’t and I know I never did. That is why I made it, “Make it in America,” that phrase, “Make it in America,” the cornerstone of my economic plan. And today’s report proves “Make it in America” is not just a slogan, it is my administration. It is a reality.

The president then reemphasized his administration’s mission to prioritize decreasing the federal deficit, calling out Trump for his spending.

“After watching my predecessor every single year increase the debt,” said Biden, “for the four years that he was in office, I said no more.”

“The days of exploding federal deficits are over and I’ve kept my word,” he continued, boasting that the “deficit is down at a record of $1.7 trillion this year.”

Recently, the Biden administration has been in hot water over fears of a looming economic recession, with just last month inflation hitting a 40-year high.

After the most recent quarterly GDP estimate showed 0.9 percent negative growth — marking the second quarter in a row with a shrinking U.S. GDP — worries about a possible recession increased. Biden pushed back against critics after the report was released, arguing that positive economic indicators paired with the two negative quarters mean that the U.S. is not actively in a recession.

Watch above via CNN

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Tags: deficit donald trump economy gdp inflation jobs report joe biden recession his administration’s working in america american manufacturing there are more people since i took office federal deficit the president that the u in american jobs report

Proposed Trade Sees Lakers Add $30 Million Former Lottery Pick

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ASK IRA: Could Erik Spoelstra go with revolving-door Heat lineups?

Q: Hi, Ira. OK, this might be a good problem for Erik Spoelstra to have, but what if Victor Oladipo outplays Tyler Herro during training camp? He might be as good offensively and probably better defensively. If the Heat are, in fact, a meritocracy, could things play out that way where Tyler remains the sixth man or are they more in need of showcasing him for a possible trade down the line, maybe right before the trade deadline? I’m concerned that would cause some locker room issues. – Eddie, South Bend, Ind.

A: I believe it is more a matter of best fit, both for the starting lineup and the bench. Look, Erik Spoelstra already has started Kendrick Nunn over Tyler Herro, and then stayed with a struggling Duncan Robinson over a surging Tyler Herro for the better part of last season. Rotation matters most. So being outplayed during the preseason does not necessarily mean being demoted or elevated. The rotation is a factor of team chemistry, as well.

Q: What are the chances that Duncan Robinson, Tyler Herro or Victor Oladipo will win Max Strus’ starting position by opening night? – Russell, Miami.

A: I’m not sure the Heat are going into camp with a “Max Strus starting position.” As stated above, chemistry will dictate the lineup and the rotation. For example, if Caleb Martin is the starting power forward, it could call for a different cocktail than if the Heat open with a pair of big men in the power rotation. Heck, Max could be in an undersized power mix. Camp and the preseason could have a lot to do with what might follow.

Q: Would you agree that Kevin Durant did not learn anything from the contract extensions LeBron James would sign in Cleveland? LeBron would sign a two-year contract with a player option for the second year. This would allow him to pressure the team to keep him happy. By signing the four-year extension last summer, Kevin gave away his leverage and the team holds all of the cards. – Karl, Miami.

A: And, yet, hasn’t Kevin Durant seemingly gotten everything he has wanted from the Nets over his Brooklyn tenure, from a year’s pay without playing, to adding Kyrie Irving and James Harden, to getting a coach he said that he liked until he said he didn’t? And the other argument to be made is that he still seems to be holding plenty of leverage, including the Nets looking to facilitate his trade demand at fair-market value. It has become clear that the NBA maxim is happy player, happy life . . . no matter the contract status.

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