Former Obama Economic Aide: I 'Warned' Democrats about Inflation; Wonders How Biden Got It 'So Wrong'

Cortney O'Brien : Nov 18, 2021
Fox News

[FoxNews.com] Steven Rattner, a former economic adviser for President Obama, blasted the Biden administration in a New York Times guest essay for getting the critical issue of inflation "so wrong," while reminding Democrats he and other economic experts "warned" them about this ... "The original sin was the $1.9 trillion American Rescue Plan, passed in March. The bill—almost completely unfunded—sought to counter the effects of the Covid pandemic by focusing on demand-side stimulus rather than on investment," he wrote. "That has contributed materially to today's inflation levels. They can't say they weren't warned—notably by Larry Summers, a former Treasury secretary and my former boss in the Obama administration, and less notably by many others, including me. We worried that shoveling an unprecedented amount of spending into an economy already on the road to recovery would mean too much money chasing too few goods," Rattner added... Subscribe for free to Breaking Christian News here Click here to read. (Image: Pixabay)