Former President Barack Obama said that President Biden has built the economy while reducing the unemployment rate to 8.3%. (Money: Pool)
Former President Barack Obama said President Biden has built the economy while reducing unemployment to 8.2%.
Obama made the comments at a campaign event for Pennsylvania US Senate candidate John Fetterman in Philadelphia on Saturday night.
“Think of what Joe Biden has already achieved. Although there was a historical epidemic, he did not only fix the economy and reduce unemployment, which, by the way, you should not take it lightly, because many people think with a historical epidemic like this and closing, that we can go into Depression Big, and we haven’t,” Obama said.
Obama also said Biden would “lower the cost of drugs and medicine” and provide funding for jobs “that will put more people here in Pennsylvania and around the country to work and make our economy stronger.”
INVESTMENT IS MORE THAN EXPECTED IN SEPTEMBER AS THINGS BECOME BUSY.
Former US President Barack Obama speaks with supporters of Pennsylvania Democratic candidate for Senate John Fetterman at Schenley Plaza, on the campus of the University of Pittsburgh, on Nov. 5, 2022, in Pittsburgh, Pennsylvania. (Photo: Jeff Swensen/Getty Images)
“If you help Democrats keep the House and gain more seats in the Senate, you can make sure they make progress on the things you care about,” Obama said.
Employers in October added 261,000 non-agricultural jobs, which was more than expected, while the unemployment rate increased slightly to 3.7%, from 3.5% in September.
OCTOBER JOBS REPORT STRENGTHENED, MAKING FED TIGHTENING MORE
President Joe Biden speaks about his student loan relief plan at Central New Mexico Community College, Thursday, Nov. 3, 2022, in Albuquerque, NM (AP Photo/Patrick Semansky/AP Newsroom)
In January 2021, when Biden took office, the consumer price index, for everyday items such as fuel, food and rent, rose 1.4% year-over-year.
In September, prices rose by 8.2% year-on-year.
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U.S. President Joe Biden and former President Barack Obama and Vice President Kamala Harris during an announcement to expand access to care under the Affordable Care Act in the Rose Garden at the White House on April 5, 2022. (Photo by Demetrius Freeman/The Washington Post via Getty Images/Getty Images)
Compared to the same period last year, core prices, which exclude food and energy, rose by 6.6%, the fastest increase since 1982.
FOX Business’ Megan Henney contributed to this story.
