Obama Adviser Reveals the Crisis that Could Lead to Another Trump Presidency
President Barack Obama’s former Treasury Secretary Larry Summers says that Biden’s economic crisis could cost him his next election. Summers, a Democrat, said that the country’s inflation could lead to Donald Trump’s next presidential term.
The Washington Examiner reports:
“After years of advocating more expansionary fiscal and monetary policy, I altered my view this past winter, and I believe the Biden administration and the Federal Reserve need to further adjust their thinking on inflation today,” he said.
Advertisement“Excessive inflation and a sense that it was not being controlled helped elect Richard Nixon and Ronald Reagan, and risks bringing Donald Trump back to power,” he cautioned Democrats.
Summers used a speech by Fed Chairman Jerome Powell from August to illustrate his point. He rebutted five points that Powell made to argue that inflation is merely transitory and will settle back down.
Summers has been sounding the alarm on inflation for months, even early in the year, when fewer economists were cautioning about the threat that it posed. He has knocked Treasury Secretary Janet Yellen for her views on inflation and has not shied away from criticizing the Fed over its slow-walking on a return to normal monetary policies.
Since Biden entered the White House the country’s inflation rate has jumped 6.2%.
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About The Author
Right now, the progressives have created such a dismal economic situation that while former President Trump is looking like a badly needed individual to calm the storms. He was by far one of the most effective presidents that I have ever voted for in all my years of voting.
When you also factor in all of the outside influence that that tried to cast him as a threat to our security, it makes you realize that they were afraid of his success. I for one would be happy to cast a vote for him in 2024!!
Inflation is the “hidden tax on all of us in the middle class and CHEATER Joe Biden knows it and is why he will never bring it under control”!!!! More money in taxes from corporations who make more money with increased prices from consumers and that is taxed higher by CHEATER Joe Biden!!! We are the BIGGEST SUCKERS WHO GET CAUGHT IN THE MIDDLE ON THIS CON BY THEM ALL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
While regular Americans will pay more for everything, this administration is claiming to be taxing the rich more, yet is giving the rich tax breaks! They are deceiving the people with their schemes! Biden is responsible for the inflation, the invasion, and the disaster we see in our country today. The democrats cannot win another term or our country WILL be over, if we make it that long.
And this Obama democrat suck up thinks thats a bad thing? NO SIR you and youre ilk are the BAD THING.
Summers has a degree if integrity missing in most democrats and it got into a peck of trouble for it.
This Biden-engineered crisis had bloody well BETTER lead to Trump, otherwise we are all screwed.