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Ex-Obama Official Breaks With Biden, Says Joe’s Being ‘Dishonest’ To Blame Supply Chain For Inflation

A former official in Barack Obama’s administration just took pulled rug right out from under President Joe Biden over inflation saying Biden is being dishonest to blame the supply chain crisis.

In an op-ed for The New York Times, Steven Rattner, who served as counselor to the Treasury secretary under then-President Barack Obama, accused Biden of not being straight with the American people in a piece he titled: “Biden Keeps Blaming the Supply Chain for Inflation. That’s Dishonest.”

“The reason for the inflation is the supply chains were cut off, meaning that the products, for example, automobiles, the lack of computer chips to be able to build those automobiles so they could function, they need those computer chips,” Biden said during a recent interview.

Rattner said Biden’s answer is ‘both simplistic and misleading.’

He wrote: “Our inflation is not caused by supply problems. Blaming inflation on supply lines is like complaining about your sweater keeping you too warm after you’ve added several logs to the fireplace.

“The majority of our supply issues are domestic: Americans have recommenced spending freely and have created shortages that are similar to those at a shopping center on Black Friday.

“All of this consumption was possible due to massive amounts of government aid (including three rounds on stimulus checks) as well as substantial underspending by consumers during lockdown phase of Covid crisis. 

“There has also been an unforeseen shift in what consumers are buying: With travel still sluggish and many people still wary of returning to entertainment venues, a hunk of purchasing has moved to goods — particularly “durables” like cars, electronics and building materials for housing — for which production and distribution capacity is limited.

“It’s a classic economic case of “too much money chasing too few goods.”

Rattner said Biden and the Twitter celebrities he has on staff need to wake up and drop the fantasy that pumping more cash into the system will cool it down.

He said Biden needs to shift from working to pass Build Back Better, a bill no one wanted or even knows about (check the google search traffic for it), and should focus on reducing the deficit instead.

He explained how former President Bill Clinton shifted to great success for the country and his own political future.

“That’s how Bill Clinton pivoted after he took office in 1993,” Rattner said.

“He unexpectedly raised taxes in his budget to address the pressing matter of the federal budget deficit.

“That decision served the country well — and ultimately also served him well.”

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20Nov
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Tucker Carlson Reveals What Biden’s Relatives Have Told Him About Joe’s Cognitive Decline (VIDEO)

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