 |
|
You is so very, very dumb
Posted on: March 8, 2024 at 10:55:53 CT
Spanky KU
Posts:
146284
Member For:
20.99 yrs
Level:
User
M.O.B. Votes:
0
Biden owns the inflation
Biden signed the $1.9 trillion coronavirus relief package known as the American Rescue Plan — and many economists say that caused inflation to run higher than it otherwise would. There are multiple sources for inflation including global supply chain issues, the pandemic, stimulus from the Federal Reserve and, now, the Russian war in Ukraine.
But the problem is that Biden pumped more money into the economy than it could handle. Administration officials said before the relief package was passed that the greater risk was do too little to help the economy than to do too much. The implicit risk was inflation, though the tradeoff was faster hiring and stronger growth. Biden got all three: the hiring, the growth and the inflation.
Harvard University economists Jason Furman and Larry Summers – both officials in past Democratic administrations – warned of inflation rising because of the size of the relief package. Many conservative economists joined them, including Michael Strain of the American Enterprise Institute.
Biden signed the $1.9 trillion coronavirus relief package known as the American Rescue Plan — and many economists say that caused inflation to run higher than it otherwise would. There are multiple sources for inflation including global supply chain issues, the pandemic, stimulus from the Federal Reserve and, now, the Russian war in Ukraine.
But the problem is that Biden pumped more money into the economy than it could handle. Administration officials said before the relief package was passed that the greater risk was do too little to help the economy than to do too much. The implicit risk was inflation, though the tradeoff was faster hiring and stronger growth. Biden got all three: the hiring, the growth and the inflation.
Harvard University economists Jason Furman and Larry Summers – both officials in past Democratic administrations – warned of inflation rising because of the size of the relief package. Many conservative economists joined them, including Michael Strain of the American Enterprise Institute.
Please explain why this message is being reported.
MESSAGE THREAD
- 
You is so very, very dumb - Spanky KU - 3/8 10:55:53