Despite promises of a manufacturing boom, Kamala Harris’s claims are falling apart as the sector continues to shrink, revealing the high cost and low return of the Biden-Harris administration’s economic policies.
Kamala Harris’s much-touted manufacturing boom is falling short of expectations.
For years, Harris and President Joe Biden have promised a surge in high-tech jobs, claiming the manufacturing boom is already happening. “Donald Trump tries to claim he brought back American manufacturing. The fact is, under Donald Trump, America lost tens of thousands of manufacturing jobs. And more than 1,000 factories closed under his watch. Meanwhile, President Biden and I have created nearly 800,000 new manufacturing jobs. So much so that it has been described as a manufacturing boom,” Harris said last month in North Carolina.
The reality, however, paints a different picture. The Labor Department reported that the manufacturing sector is actually shrinking. On Wednesday, it revealed that employers had added 818,000 fewer jobs in the 12 months through March than previously estimated, including a downward revision of 115,000 manufacturing jobs.
Initially, it was believed that 19,000 manufacturing jobs had been created during that period. But after the revision, it turns out the sector lost 96,000 jobs.
Harris’s claim of 800,000 manufacturing jobs added under the Biden administration was misleading from the start, as it was measured against the pandemic’s employment trough. Many of those jobs were simply ones regained after lockdowns lifted, rather than new positions. By March, the revised figure was 564,000 jobs. If measured against pre-pandemic levels in February 2020, the gain drops to just 56,000. And compared to the peak of factory employment under Trump in early 2019, the increase is a mere 8,000 jobs.
These 8,000 jobs have come at a significant cost. The Inflation Reduction Act, the Bipartisan Infrastructure Law, and the CHIPS Act have cost trillions of dollars, with the administration touting hundreds of billions in private sector investment spurred by these laws.
But despite the spending, the manufacturing sector remains in contraction. According to the Institute for Supply Management, the sector has contracted for four straight months, with July seeing a deepening decline. Apart from a brief expansion in March, the sector has contracted for 21 of the last 22 months.
High interest rates, raised by the Federal Reserve to combat inflation fueled by the administration’s massive spending bills, continue to weigh on manufacturing. Even as borrowing rates have eased, the sector remains under pressure.
As Democrats celebrate job creation and investment in Chicago, the reality on the ground tells a different story. The promised manufacturing boom remains elusive, with the costs of the administration’s policies failing to deliver the expected benefits. The sector’s challenges suggest that achieving a true resurgence in American manufacturing may require a different approach than what Harris is offering.
Source: Point Report
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TruthPukes Take:
- Despite promises of a manufacturing boom, Kamala Harris’s claims are falling apart as the sector continues to shrink, revealing the high cost and low return of the Biden-Harris administration’s economic policies.
- The Inflation Reduction Act, the Bipartisan Infrastructure Law, and the CHIPS Act have cost trillions of dollars, with the administration touting hundreds of billions in private sector investment spurred by these laws.
- And compared to the peak of factory employment under Trump in early 2019, the increase is a mere 8,000 jobs.
