It is not novel that the South African billionaire Elon Musk and U.S. President Joe Biden are at loggerheads. Musk has been a staunch critic of the Biden administration. For a fact, he has been publically vocal about it.
Recently, in a historic buyout, Elon bought Twitter. Since then, he has been profusely tweeting against Democrats and Joe Biden about their taxation policies and handling of the inflated economy. Joe Biden had not responded until yesterday’s press conference where he addressed the remarks.
Joe Biden Cited The Improved Status Of Elon Musk’s Contemporaries
In the current times, the U.S. is facing an economic slump due to inflation as high as 8.26%. The purchasing power has increased, but the employment rate has not been impressive. The post-pandemic record has been steadily growing, but the unemployment rate has been falling lower than the pre-pandemic rate.
Recently, Elon Musk expressed a “bad feeling” about the current economy and revealed he is planning to slack 10% of his employees. But, the cut “does not apply to anyone building cars, battery packs, or installing solar.” Netflix, the OTT giant is also facing the post-pandemic brunt as it lost 200,000 subscribers.
Finally, at a press conference, the President responded to his administration’s frequent critic. During the press address, a reporter pointed out that Elon is uncertain about the economy. To this, Biden responded, “Well, let me tell you, while Elon Musk is talking about that, Ford is increasing their investment overwhelmingly.”
Biden continued, “I think Ford is increasing investment in building new electric vehicles, 6,000 new employees, union employees, I might add, in the Midwest. The former Chrysler corporation, Stellantis, they are also making similar investments in electric vehicles.”
Thanks Mr President!https://t.co/dCcTQLsJTp
— Elon Musk (@elonmusk) June 3, 2022
The President also hinted at Intel’s addition of 20,000 employees. He ended his statement with, “So, you know, lots of luck on his trip to the moon.” Musk responded to the remark with a tweet “Thanks, Mr. President,” sharing an article about NASA and SpaceX’s collaboration for their moon mission under the Artemis program.
Though Musk is concerned about employment, the Labor Department report presents a hopeful picture. The Labor Department found that the U.S. economy added 390,000 jobs in May while the unemployment rate held at the low level of 3.6%.
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