Joe Biden and his economic team have frequently seemed clueless when it comes to what’s going on with the economy.
If we go back to 2021, first, they denied inflation, then they claimed it would be “ transitory,” then they tried to blame it on everyone and anything else but Biden and his policies.
Let’s listen to Jared Bernstein, who was on Joe Biden’s Council of Economic Advisers, as he explained in 2022 that it depends on what the meaning of “transitory” is. This is right up there with Bill Clinton for gall, and Kamala Harris for word salad.
It’s your fault if you thought “transitory” meant temporary/not going to be here long. It’s your fault that we’re still being hit by inflation three years later.
If that doesn’t tell you all you need to know about the Biden team, let’s fast forward to a new clip that was just released featuring Bernstein that is getting a lot of attention on X. Bernstein is now the Chair of the Council of Economic Advisers. The clip is from the new documentary “Finding the Money,” and the filmmakers did an interview with Bernstein. If you wonder why things are such a mess, Bernstein’s answers may help explain why.
“The US government can’t go bankrupt because we can print our own money,” Bernstein said.
If they print the dollars, why are we borrowing in a currency we print ourselves? the interviewer then asks.
“Some of the language and concepts are just confusing. I mean, the government definitely prints money. And it definitely lends that money. Which is why the government definitely prints money. Then it lends that money by, uh, by selling bonds. Is that what that they do?” Bernstein seemed to ask himself.
“Yeah, they sell bonds, yeah, they sell bonds, since they sell bonds, then people buy the bonds and lend them the money,” he said confusingly.
“A lot of times, a lot of times, the language and concepts can be unnecessarily confusing,” he declared.
He rambled a little more before he finally conceded, “I don’t get it. I don’t know what they’re talking about.”
“The government clearly prints money and it does it all the time. And the government clearly borrows. Otherwise we wouldn’t be having this debt and deficit conversation. I don’t think there’s anything confusing there.”
Alrighty, now. Did you get that? Crystal clear, right? Aren’t you glad that this is one of the top guys advising Biden? Is it any wonder why we have had the problems we’ve had? I’m sure this will reassure Americans who already give Joe Biden low marks on the economy and inflation. Scary stuff, when you think about the people supposedly in charge.
Brit Hume basically said it for all of us.
