Biden is a joke. Worthy of laughter.
(Bloomberg Opinion) -- President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project.
The first weakness of Biden’s argument is that the timing is all wrong. On Nov. 10, the White House issued a prepared statement from Biden claiming that “17 Nobel Prize winners in economics have said that my plan will ‘ease inflationary pressures.’ ”
What they actually said is that it will “ease longer-term inflationary pressures.” Several of these economists say that Biden’s spending plans aimed at climate change, education, child care, housing and many other social programs will increase inflation in 2022 by pumping more money into the economy. Any downward pressure on prices would come later, as productivity increases in response to new federal investments in people and infrastructure.
Read more at: https://www.bloombergquint.com/gadf...den-inflation-pitch-can-t-pass-the-laugh-test
(Bloomberg Opinion) -- President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project.
The first weakness of Biden’s argument is that the timing is all wrong. On Nov. 10, the White House issued a prepared statement from Biden claiming that “17 Nobel Prize winners in economics have said that my plan will ‘ease inflationary pressures.’ ”
What they actually said is that it will “ease longer-term inflationary pressures.” Several of these economists say that Biden’s spending plans aimed at climate change, education, child care, housing and many other social programs will increase inflation in 2022 by pumping more money into the economy. Any downward pressure on prices would come later, as productivity increases in response to new federal investments in people and infrastructure.
Read more at: https://www.bloombergquint.com/gadf...den-inflation-pitch-can-t-pass-the-laugh-test
