House Minority Leader Nancy Pelosi misled a group of reporters during a press briefing on Thursday as she downplayed the current unemployment rate and said what really matters is consumer confidence — something she suggested that only the Democrats' plan can increase — despite being at an 18-year high. Pelosi's comment comes after last Friday's jobs report which showed that the unemployment rate is at 3.8%, the lowest rate in 50 years.
"Well, as I said, unemployment rate is one indication," Pelosi said. "The fact is, and this has happened before, that people say, 'Oh my goodness, that people are saying the unemployment rate is down, why isn’t my purchasing power increasing?'
"So, this isn’t just about the unemployment rate, it’s about wages rising in our country, so that consumer confidence is restored," Pelosi continued. "Because our economy will never fully reach its possibilities unless we increase the consumer confidence and that can only be increased by a better deal, better jobs, better wages, better future, and lowering costs to families — whether its prescription drugs, by really lowering the cost of prescription drugs — and that list goes on."
Unfortunately for Pelosi, consumer confidence is at an 18-year high.