Reprinted, with permission, from the Committee to Unleash Prosperity‘s daily must-read Hotline email.
We have our hand on the Bible swearing we are not making this story up.
A gang of 16 Nobel prize-winning economists signed a letter yesterday endorsing Joe Biden for president because: “There is rightly a worry that Donald Trump will reignite inflation with his fiscally irresponsible budgets.”
But then our colleague, Scott Bessent, noticed something strange and ironic about the signatories: 13 of these economists signed a highly-publicized open letter three years ago assuring Americans that Biden’s “Build Back Better” spending spree would “ease longer-term inflationary pressures.”
Then — whoops! — 18 months later inflation soared to 9.1% under Biden – the worst U.S. inflation in almost 40 years! This would be the medical equivalent of amputating the wrong leg.
Here’s the overlapping list of these economists who were spectacularly wrong in 2021, but whom we are supposed to believe are right this time around.
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Author: Ruth King
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