As Biden “celebrates” inflation today, even liberal economists are sounding the inflation alarm.
As former Clinton and Obama economist Larry Summers put it: “The US has a serious inflation problem.”
Obama economist Jason Furman similarly warned about the “ugly” inflation picture.
And what that problem means for workers: Real wages have now been negative for 17 months. For context, real wages have been negative for LONGER than during the 2008 recession.
But Biden celebrates? Only a president completely detached from reality would celebrate a bill that raises the tax burden on the middle class while his policies actively make Americans poorer. And every Senate and House Democrat helped him do it.
