Inflation, The Obvious Result of Biden’s New Progressive Economics – IOTW Report

Inflation, The Obvious Result of Biden’s New Progressive Economics

Reason

Inflation didn’t just happen on Biden’s watch. His budget-busting American Rescue Plan—which dumped a bunch of monopoly money on an already recovering post-pandemic economy—predictably sent prices through the roof.

At the time, “neoliberal” economists who’d held prominent positions in previous Democratic administrations, but had been largely replaced by the New Progressive types [Andrew] Prokop [link added] profiles, publicly warned that the ARP was too big and would generate lots of inflation.

The New Progressives shrugged off these criticisms as reactionary snipping from careerists steaming over their loss of power and influence.

But neoliberals turned out to be right. Progressive dismissals of their warnings ended up endangering their entire political project.

The silver lining to Biden-era inflation, for all the hurt it caused, is that it might end up discrediting the New Progressive’s economic policies within the Democratic Party. More

3 Comments on Inflation, The Obvious Result of Biden’s New Progressive Economics

  1. “Biden’s” policies (yeah, as if he controlled anything) were designed to destroy the middle class, period. That’s been the communist’s goal since they got a toehold in the US via Hollywood and ivy league schools back in the 50s.

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