Is America really in a manufacturing renaissance? Far from it. U.S. manufacturing is hemorrhaging, and the numbers the Biden administration uses to claim otherwise are bought.
is playing shell games with the economic data to gaslight Americans.Under President, government spending has increased by trillions of dollars, including hundreds of billions in manufacturing subsidies for politically favored industries such as green energy. This has artificially boosted key numbers like gross domestic product and construction spending in the manufacturing sector.
The breakneck pace of construction in the manufacturing sector merely papers over myriad warning signs. Before the pandemic, manufacturing was truly booming; output, optimism and employment were rising. Under Mr.For most of the last year, several purchasing manager indexes have signaled a contraction in the sector. Meanwhile, both industrial production and the percentage of factory capacity being used have been zigzagging down since last September. Total factory output has declined for the last four months.
borrowed, printed and spent trillions of dollars, it crowded out private investment, above all in manufacturing.
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