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Good evening and welcome to Tucker Carlson tonight. Last summer, with the midterm elections only a few months away, the Biden administration faced a huge problem called the economy. Most voters vote based on the economy and how they feel about their jobs and how they feel about their country. And it was not good in their country at that time.

The US economy had only recorded a decline in GDP for two consecutive quarters. It is not just an academic observation. That is the technical definition of a recession. Two quarters. Decrease in GDP. Recession. We’re not making this up. You’ll find it in every economics textbook ever written. Go look for the one you used in college. But the Biden administration could not accept it. If they had accepted that the USA is in recession, they would have lost the Senate. They would lose control of both houses of Congress. So they had to lie about it.

But how can you lie about something that is so easily defined that everyone can see? Well, you just change the definition. And so they did. They came up with a new definition of recession. So don’t look at GDP. It is an old, racist way of evaluating the economy. Look at the full factors. Let’s look, for example, at the labor market. Labor market.

Well, then, in June, the Bureau of Labor Statistics gave them ammunition for their cause. The Bureau of Labor Statistics released a report showing that the labor market is strong. They found that the US economy added more than a million jobs in the second quarter of this year, from March to June. One million jobs. That’s a big deal. It’s a big story. And of course, Joe Biden wasted no time promoting it. Watch:


JOE BIDEN: Our labor market remains historically strong. Our economy has created more than 9 million jobs since I took office, in no small part because of the people on this stage. Our economy created more than 1 million jobs in the second quarter.

One million new jobs in the second quarter despite negative growth. Wait a second. How do you get a million new jobs with negative growth? It’s like magic. How is that possible? But no one from the media asked questions. Instead, they repeated the White House line, which was the BLS report, the Bureau of Labor Statistics report showing a million new jobs, which proves we can’t be in a recession. They all said it, quote. “Jobs report shows Biden economy not in recession,” writes The New York Times. And then, of course, there were other stories like that. So, based on that and other factors, they won. They now control the Senate.


And now we must learn the truth. A million new jobs, really? The Philadelphia Fed decided to check those numbers, and they found that the US economy did not add more than a million jobs in the second quarter of this year. Instead, net additional jobs were about 10,000. So that’s less than the 1% job growth the administration claimed. This is not a rounding error. It’s not a trivial math error. This is a country that allegedly sent a man to the moon. We can do the math, right? This is not like thinking you have $100 in your pocket and finding out you have $85. This is like claiming you were rich when you were actually broke. This is a lie.

So how did they get over a million jobs wrong? How did they construct this lie? Well, as of tonight, we’re not really sure. We now know that the BLS numbers didn’t just help Joe Biden. There was another goal. These bogus numbers also gave Federal Reserve Chairman Jerome Powell an excuse to keep raising interest rates. Based on that report, they can raise the rates. Here was Powell just a few days ago.

U.S. Federal Reserve Chairman Jerome Powell testifies before the House Oversight and Government Reform Committee hearing on Treasury and the Federal Reserve’s oversight of the pandemic response, on Capitol Hill in Washington, September 30, 2021. (Photo by Al Drago / various sources / AFP) (Photo by AL DRAGO/AFP via Getty Images)
(Photo by AL DRAGO/AFP via Getty Images)


JEROME POWELL. Today the FOMC raised our policy rate by half a percentage point. We continue to expect continued increases to be appropriate for a monetary policy stance that is sufficiently restrictive to return inflation to 2% over time. Despite slowing growth, the labor market remains extremely tight, with the unemployment rate near a 50-year low. Vacancies are still very high and wage growth is high. Job gains have been steady.

Oh Every word is a lie. The justification is a lie. And in fact, as Powell well knows, there are 7 million American men of working age who are not working. They surf the internet all day. So why are they lying to us about this? Well, the implications are very obvious. Go try to get a car loan or a home loan or any type of loan. Or if you have an adjustable rate loan, see how much more you pay each month. So why do they do it? Well, the administration wants Powell to raise interest rates because they believe it will offset the inflation that Joe Biden’s policies have caused.


But this is a big problem for everyone. Raising rates when the economy falters and people are out of work. If you continue to do this, you can cause a real collapse. That seems to be the course they put us on. The Biden administration got the rate hike it wanted even as the labor market flattened. William Beach directs the Bureau of Labor Statistics. Marty Walsh heads the Department of Labor. They need to explain why anyone should ever trust the most basic economic numbers given by the government again. And it’s one thing to have the numbers wrong, but then to base future policy on numbers you know are wrong, what’s that? That’s what they do. Jerome Powell will probably have to answer that question soon. He won’t be joining us tonight either.


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