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Ready for more inflation? A former top Obama economic advisor warns that the $1.7 trillion Omnibus bill is a recipe for a fresh heaping helping of inflation on top of what we already have
American Thinker ^ | 12/26/2022 | Monica Showalter

Posted on 12/26/2022 5:16:10 PM PST by SeekAndFind

Inflation is always and everywhere a monetary phenomenon, as Milton Friedman, the economist and intellectual author of the Reagan Revolution used to explain.

Which means that when Federal Reserve prints out more cash to shell out for bigger and bigger government programs, look out.

Inflation is on the way.

Don't take this from me, this time. It's now what one of President Obama's top economic advisors is now warning as Joe Biden gets ready to sign the $1.7 trillion Omnibus bill passed by Congress, including 18 skeevy Republicans:

On Friday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that fiscal policy, like “the federal budget deficit, as well as various other things that the White House can do, have been mostly going the wrong way.” And the omnibus bill will lead to “more inflation, not less inflation.”

Rattner said, “Well, unfortunately, the policies outside of the Fed’s regime, which are basically what we call fiscal policy, the federal budget deficit, as well as various other things that the White House can do, have been mostly going the wrong way. This omnibus bill that will get passed presumably today, the $1.7 trillion spending bill, does increase the deficit more. It spends more, and all of that actually creates more inflation, not less inflation. The President’s student debt relief plan, whatever you think about the merits of canceling student debt, economists will tell you, it does add to inflation, because it, again, puts more money out in the economy and gives people more to spend.”

This would be the same Rattner who engaged in all kinds of mischief during the Obama years as Obama's "car czar," crafting the automotive industry bailout at what was then seen as an astronomical $82 billion

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: bidenflation; bidenrecession; captainobvious; carczar; inflation; obama; omnibusbill; senate; steverattner
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1 posted on 12/26/2022 5:16:10 PM PST by SeekAndFind
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To: SeekAndFind

More inflation??? But we have been told that the Inflation Reduction Act will kick in soon, and then we will get relief.


2 posted on 12/26/2022 5:17:13 PM PST by Dilbert San Diego
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To: SeekAndFind

Transitory rape.


3 posted on 12/26/2022 5:18:06 PM PST by EEGator
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To: Dilbert San Diego

The inflation reduction act will take time to kick in... probably will happen in three to five years. /sarcasm


4 posted on 12/26/2022 5:18:18 PM PST by Moorings
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To: SeekAndFind

Well apparently Americans love inflation.


5 posted on 12/26/2022 5:18:42 PM PST by dfwgator (Endut! Hoch Hech!)
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To: SeekAndFind

I’m not worried one bit. Inflation will be transitory. FJB told me that the inflation curve will flatten in two weeks.


6 posted on 12/26/2022 5:22:38 PM PST by ProtectOurFreedom (If you're not part of the solution, you're just scumming up the bottom of the beaker)
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To: SeekAndFind

Well duh. An increase in money supply is inflation.


7 posted on 12/26/2022 5:24:02 PM PST by fretzer
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To: SeekAndFind
Related -->
Could It Be That Our Rulers are ‘Blithering Idiots?’

8 posted on 12/26/2022 5:25:26 PM PST by ProtectOurFreedom (If you're not part of the solution, you're just scumming up the bottom of the beaker)
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To: fretzer
9-CB160-AB-4-FC3-4961-A29-D-24-EF16929049

Biden and the Media are going to blame the Republicans

POTUS can’t authorize funds.




9 posted on 12/26/2022 5:25:46 PM PST by AnthonySoprano (Statute of Limitations is going to elapse on Hunter Biden )
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To: SeekAndFind

Well Biden says the economy is doing fine.


10 posted on 12/26/2022 5:25:55 PM PST by Telepathic Intruder
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To: Telepathic Intruder
51-C69-EB1-D85-A-4236-8510-0-BBD8-FD6-D4-DA
11 posted on 12/26/2022 5:27:39 PM PST by AnthonySoprano (Statute of Limitations is going to elapse on Hunter Biden )
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To: SeekAndFind

$800 billion for the DoD
$50 billion for Ukraine

What else?


12 posted on 12/26/2022 5:30:04 PM PST by Brian Griffin
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To: ProtectOurFreedom

.
Yep, Inflation never stopped Joe from buying a Mansion with 14 Marble Fireplaces and parking for 100.


13 posted on 12/26/2022 5:30:04 PM PST by AnthonySoprano (Statute of Limitations is going to elapse on Hunter Biden )
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To: Dilbert San Diego

Why does ANYONE believe Janet Yellen or anyone in DC??


14 posted on 12/26/2022 5:30:20 PM PST by Kaiser8408a (z)
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To: SeekAndFind

Having graduates pay down/off their debt improves their credit.


15 posted on 12/26/2022 5:31:57 PM PST by Brian Griffin
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To: SeekAndFind

How’s it feel to be raped by Rats?


16 posted on 12/26/2022 5:33:04 PM PST by Theophilous Meatyard III
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To: SeekAndFind

Now you know the difference between a Federal Reserve Note and a US Note—or do you? And tell me, is the “Federal Reserve” a federal or private entity?


17 posted on 12/26/2022 5:33:42 PM PST by Fungi
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To: All

Ooh

You can dance, you can jive
Having the time of your life
Ooh, see that guy, watch that scene
Digging the Spending Queen.

Friday night and the lights are low
Looking out for Meds on the low.
Cash goes Cha-Ching.
You come to look for a king

Anybody could be the Big guy
Night is young and the music’s high
With a bit of rock music, everything is fine
You’re in the mood for Spending
And when you get the chance

You are the Spending queen
Old and mean, only 70.

Spending queen
Feel the beat from the tambourine, oh yeah
You can dance, you can jive
Having the time of your life
Ooh, see the big guy, watch that scene
Digging the Spending queen

Digging the Spending queen


18 posted on 12/26/2022 5:39:15 PM PST by AnthonySoprano (Statute of Limitations is going to elapse on Hunter Biden )
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To: Fungi
The FED is a Private entity.

A US Note is (or was) redeemable in (backed by) gold or silver.

A Federal Reserve Note must - by law - be accepted in payment
for any and all debts. It is backed by the 'Full Faith and
Credit of the United States'. Whatever the heck that means.

19 posted on 12/26/2022 5:47:24 PM PST by GaltAdonis
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To: Fungi

Watch this for all the answers you need. https://www.youtube.com/watch?v=lu_VqX6J93k


20 posted on 12/26/2022 5:51:13 PM PST by EvilCapitalist (81 million votes my ass.)
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