Joseph Gunderson - November 14, 2021 at 08:54AM
Biden's economic agenda is so terrible even Obama-era personnel are coming out to say so. Jason Furman, who once served as the chair of the Council of Economic Advisors under Obama, has declared that Biden's spending, specifically the American Rescue Plan that cost $1.9T, "poured kerosene on the fire."
Furman points out that there "a sizeable chunk of the inflation we're seeing is the inevitable result of coming out of the pandemic" but the Biden administration, his advisers, and policymakers have "systematically underestimated inflation."
This isn't difficult to believe. Biden doesn't understand much, if anything, about what he's doing. And if he does understand, he simply doesn't care. As he uses to government's might to twist the economy against the little guy, he is actively engaged in a remaking of the entire system. Perhaps making our currency worth zero is just a box the guy needs to check.
Furman went a little further in trying to give the administration some advice worth heeding:
"[policymakers] need to stop telling us that inflation is transitory [and] start becoming more worried about inflation, then act in a matter consistent with being worried."
Even former Federal Reserve Chairman Larry Summers has come out to criticize the actions of the current administration, noting that he believes it's "less than a 50/50 chance" that inflation will return to acceptable levels by the end of this next year.
"I actually believe the gap between Treasury & Fed statements and the everyday experience of businesses and consumers in terms of inflation has widened in recent months. Until the Fed & Treasury fully recognize the inflation reality, they are unlikely to deal with it successfully."
One thing is for sure, Americans are feeling the current inflation spike everywhere: at the pump, in the grocery store, and in buying everyday products. People are hurting, and Biden doesn't seem to give a damn.
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from Steven Crowder Says
