James S. Brady Press Briefing Room Washington D.C. August 13 5:56 P.M. EDT
Thank you very much. I appreciate you being here, and good evening. As we continue to confront the China virus, we're rebuilding America's economy like nobody thought possible, actually. We're doing incredibly well.
The stock market is up almost 300 points again today. While our economy is performing significantly better than Europe — which people have to understand very strongly; it's performing better than any market anywhere in the world actually. At the same time, Europe has experienced a 40 percent higher excess mortality than the United States. And I will say that that's a significant number. We're working with Europe on their difficulties, and we are going to help them all the way.
We're doing very well, as you know, on the vaccines and the therapeutics. But think of that: We have the strongest economy — performing economy in the world. We're up — I think it's $9 trillion since March — $9 trillion in value. That's a — that's a number that nobody has ever heard of before. We're also getting close to about a 50 percent number since March, which is incredible. So, it's $9 trillion. It's almost 50 percent. In fact, I think it went above 50 percent today with the 300 point increase. And it's — so we're doing much better than Europe, significantly. And at the same time, Europe has experienced a 40 percent higher excess mortality than the United States.
I just want to mention because another number of judges were approved recently. We'll be, probably, over 300 judges -federal judges, including court of appeals judges — approved by the end of my first term. And other than they — when they added new judges into somebody's term, which happens seldom, but we have more than any — this is a record. Nobody has ever seen anything like this in one term. So we're going to have over 300 federal judges, and that's court of appeals judges, and that's just in the first term. It's — probably we'll finish out over 300, which is pretty amazing.
The stock market's rebound signals a "V"-shaped recovery, stronger than our competitors anywhere in the world — stronger. If you look, you'll see exactly what we have. We — we lead the world. Japan is second. But in terms of dollar value, it's not even close. So there it is. A lot of great competitors: Europe, United Kingdom, Japan, China, Hong Kong. The United States is leading the world, very substantially.
On the second slide, you'll see the virus-induced economic contraction in the United States has been far less severe than it was with our peers and peer nations. And you see that, right there; there's the United States. And that's despite the fact that we've done more testing than any other nation in the world, that we've done more, by far, ventilators. We're building thousands and thousands of ventilators a month, and we're distributing them all over the world. We're helping other countries.
But despite all of these factors, the shallowest contraction, which is a big deal. I'm sure you'd love to put them in your various media outlets. I know you want to get that out. If you want to leave the room early and do that, that would be fine. The rapid recovery — but it would be nice to report it.
The rapid recovery of homebuilders' sentiment points to massive new construction. And we are doing massive amounts of construction of new homes, and that's because people have tremendous confidence. This is where we went, and the housing market has quickly rebounded. We were at a record, and now we're going to be at a record again very shortly. Those numbers are incredible. That's where we are. And we had to turn off the economy, and now we're turning it back on, and that's beyond a "V" shape. This is going to be very strong; it's called a "strong 'V.'"
Automobile demand has increased 65 percent over the last three months. Sixty-five percent automobile demand. And we're anticipating that that's going to go up even further, but that's more than any — anybody else. The manufacturing sector — remember "manufacturing is dead," according to the past administration of Obama and Biden? "Manufacturing is dead. You'd need a magic wand." Well, you don't need a magic wand. You need competence and capability. The manufacturing sector is booming, and the Production Index is at the highest reading since October of '18, which is — was a — an extraordinary period of time. And there we are. That's pretty good.
These are numbers that nobody has seen until just recently, and now they're just coming out. These are numbers that are leading — I guess, the stock market people, they're very smart people. I know many of them, and they're seeing things that they don't even believe. So, the manufacturing sector is booming, and the Production Index is at its highest reading in a long, long time.
The economy generated over 9 million jobs in the last three years — a record, by far — and 12 million more jobs than experts predicted. So, there you are. You look at that, and that's a record, and it's a record for the quarter. We had over 9 million — substantially more than 9 million jobs.
So those are incredible numbers about our economy and how it's coming back. It's coming back very strongly, and it's coming back at a level that's far greater than anybody anticipated. And we're very proud of that. And I give a lot of credit to all of our people — Steve and Larry.
And we'll be talking about it. If you have any questions on it — shouldn't have any questions. I didn't — I didn't print those charts. Who did? The economy (inaudible), let's see. I don't know. We'll find that out for you, but it wasn't us. We took those — we took those numbers from somebody. Where did you get those numbers, Larry? They're from where?
It's from the BLS jobs report (inaudible).
BLS jobs report.
The monthly jobs report, through July.
Okay. Everybody has that — everybody who needs?
The Democrats have abandoned the American people over the simple subject of politics. Chuck Schumer and Nancy Pelosi are holding the American people hostage over money for their radical leftwing agenda that the country doesn't want and won't accept.
For example, they've asked for a ridiculous $3.5 billion — that's billion — $3.5 billion for universal mail-in voting, a system riddled by fraud and corruption. You just look at what happened with the Carolyn Maloney race. They should do that race over, by the way. I think her opponent is right when he is having fits about that race. When you look at the ballot, the ballots that are missing, and the ballot frauds — nobody knows what's going on with that race, and yet they declared her a winner. So, her opponent — I don't know what's happened over the last 24 hours, but her opponent is rightfully going a little bit crazy.
And then you look at what happened in Virginia, where they have 500,000 applications sent out at random to people that have no idea what happened. And they admitted they made a mistake. And many were sent to dead people and many were sent to — a number was sent — I guess, two — that at least two, three, four were sent to dogs. One was sent to a cat. They're sent all over the place. That was in Virginia.
In Paterson, New Jersey, they had a massive amount of voter fraud. And it's been a disaster. Paterson, New Jersey has been total disaster — that's universal mail-in voting.
So, they want $3.5 billion for universal mail-in voting for the country, where you have hundreds of millions of voters. They can't do a little race with 20,000 people; now they want to take it countrywide. Mail-in voting — it's going to be the greatest fraud in the history of elections. When you always talk about "Russia, Russia, Russia," China, Iran on voting — your biggest problem is going to be with the Democrats, not with China, Russia, and Iran. Your biggest problem is going to be with the Democrats.
But now the Democrats — they want $3.5 billion, think of it. But now that they're unwilling to approve a bill that gives all of that money — of course, we would never approve an amount like that. And they also want $25 billion additional for the Post Office, Steve. Twenty-five billion for the Post Office, so the Post Office can handle this vast amount of ballots that are being sent, at random, all over the place. They have no idea where they're going.
So, they want $25 billion, and they want — think of this: They want $3.5 billion. Would you say that's enough to cover it? I think we could do it for less, right? I think we could do it for less. But they want $25 billion for the Post Office because of this.
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