Cecilia Rouse, chair of the Biden administration’s Council of Economic Advisers warned Americans on Sunday to expect some “transitory inflation” as America slowly crawls out of the coronavirus pandemic and while the administration plans spending measures nearing $5 trillion.
When asked, “With all this new spending can you guarantee the American people will not experience significant levels of inflation?”
Chairwoman Rouse responded:
“These are very serious concerns, and we know that coming out of an extremely deep recession that there are going to be bumps along the way. We expect that there is going to be supply chain disruptions. That will cause some transitory increases in prices. ”
Rouse insisted that we are still in the middle of a pandemic, despite massive vaccine distribution and plummeting COVID cases. She reiterated, “the pandemic is out of control in some parts of the country” in an attempt to justify the taxpayer burden her boss is about to heft onto the American worker.
She made no qualms about how the new spending will affect the average American, saying, “We do expect some price increases and some runaway inflation.” Despite Cecilia’s admission, there is no indication that the Biden administration will slow down any spending. In fact, as Democrats are wont to do, Biden believes government spending will be America’s saving grace from economic collapse. Apparently, our cognitively-deficient president didn’t learn much from FDR and the Great Depression.
Author: Elizabeth Tierney