Obama Admits Biden Is Screwed
Welp, looks like the economy is done for folks.
President Biden’s economic problems have officially gotten so bad that even former President Barack Obama’s Chairman of the Council of Economic Advisers, Jason Furman, is admitting that he doesn’t think Biden has a fighting chance in hell to save the country.
Furman has admitted that it is going to without a doubt get more challenging for Biden bring down inflation that is unacceptably high without ruining the currently low unemployment rates.
In transcript provided by Breitbart, Furman stated, “I think the truth is that gas price inflation mostly is due to the fact that President Putin invaded Ukraine and the set of events that fell out of that. Everything else on gasoline prices is tiny compared to that. … I think the rest of the inflation would still be a problem even if it weren’t for gas price inflation. And absolutely…I think the American Rescue Plan has played a role in that inflation. I think the Fed being behind the curve has played a role in that inflation. Now, what’s most important is what we’re doing about it going forward. Right now, most of the answer is in the Fed. I think he’s appointed good people to the Fed. Those people are advancing through the confirmation process. And we’ve seen Jay Powell really shift towards saying his main problem, our main problem as a country is inflation, and he’s exactly right, now he needs to do something about it.”
Furman then said, “I mean, this is an economy where the glass is partly full and partly empty. The full part is the 3.8% unemployment rate. Americans are talking in a pessimistic manner, but they’re not behaving in a pessimistic manner. You look at the spending numbers, people feel great about the economy. They’re out there. They’re spending money. They’re buying things. But inflation is very unacceptably high. It’s a real problem and it affects everyone. So, there’s a good and a bad. I think if the Fed can land this plane, maybe they can bring the inflation down without ruining the other part of it. But that gets more challenging to sort of do that tricky plane landing by the day.”
