Hey Big Spenders! 16 Nobel Prize-winning economists say Trump policies will fuel inflation (big spending gov’t +37.7%, US debt up 50% under Biden driving the economy, along with Federal Reserve)

by confoundedinterest17

Hey big spenders (Biden, Congress and the 16 Nobel prize winning economists).

June 25 (Reuters) – Sixteen Nobel prize-winning economists signed a letter on Tuesday warning that the U.S. and world economy will suffer if Republican presidential candidate Donald Trump wins the U.S. presidential election in November.

The jointly signed letter, first reported by Axios, says the economic agenda of U.S. President Joe Biden, a Democrat, is “vastly superior” to Trump’s, the former Republican president seeking a second term.

Read the source article from Reuters for the rest of the Marxist clown show. What Joe Stiglitz and other Leftist economists are cheerleading in the excessive post Covid spending spree that Biden and Congress went on. There is a different between a free market system and government directed spending, usually on large donors.

One source of crippling inflation under Biden is (wasteful) government spending, up 37.7% under Biden. Federal debt is up a nauseating 50% under Biden. These levels of spending and debt are NOT sustainable!

Another souce of inflation under Biden has been The Federal Reserve. With Covid. The Fed entered like gangbusters dropping their target rate to 25 basis points and massively increasing their balance sheet. Call this BIDEN 1. Then to squelch inflation, The Fed raised their target rate and slowly started to unwind the balance sheet. We saw a slowing of inflation. Nothing to do with Biden, although I am sure he will take credit for it at Thursday’s debate with Trump.

Inflation was growing rapidly in Biden 1, but inflation started to slow (Biden 2) as The Fed rapidly raised their target rate.