×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: biden | trump | BBB | psaki | inflation | economists

373 Economists Say Build Back Better Would Cause More Inflation

Shell Gas
A Shell gas station at U.S. Hwy 90 and Ray Ellison Boulevard in San Antonio, Texas, on Monday. (Carlos Kosienski/Sipa via AP Images)

By    |   Thursday, 10 March 2022 10:14 AM

As they attempt to jump-start the so-called Build Back Better economic agenda, both President Joe Biden and White House press secretary Jen Psaki have repeatedly cited claims by economists that the $1.75 trillion version of the measure would bring down inflation.

Last December, the Biden administration released a letter from 56 economists claiming that the plan would "alleviate some of the strain caused by inflation."

Psaki has frequently reminded correspondents at White House briefings that the letter includes several Nobel Laureates.

Last week, 373 other economists made it clear enough was enough on this subject.

Brought together by the America First Institute (which includes many former Trump administration officials), the 373 recently signed a full-page advertisement in The Wall Street Journal voicing their fundamental disagreement with the runaway social-spending initiative and the claims by Biden and Psaki about how it might impact the economy.

"In fact, the policies in the Build Back Better agenda would increase inflation, increase the federal debt, reduce the number of people working, badly misallocate capital, and hobble economic growth," reads the statement by the economists.

Among those signing the statement are William D. Ford, former president of the Federal Reserve Bank of Atlanta; James Miller, former head of the Office of Management and Budget under Ronald Reagan; former U.S. Chamber of Commerce chief economist J.D. Foster; and several economists from Princeton, Harvard, and other Ivy League colleges and universities.

One of the 373 is Omar Borla,  a visiting scholar at the University of Delaware’s Joseph R. Biden Jr. School of Public Policy & Administration.

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

© 2022 Newsmax. All rights reserved.


Newsfront
In an attempt to jump-start the Build Back Better agenda, President Joe Biden and White House press secretary Jen Psaki have cited 56 economists that the $1.75 trillion version of the measure would bring down inflation. Last week, 373 other economists said it would not.
biden, trump, BBB, psaki, inflation, economists
280
2022-14-10
Thursday, 10 March 2022 10:14 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved