OBAMA AIDE ‘WARNED’ DEMS ABOUT INFLATION
Steven Rattner, a former economic adviser to President Obama, wrote a guest essay for the New York Times in which he said the Biden administration got the issue of inflation “so wrong” despite the fact that he and other economic experts warned them about it.
“The original sin was the $1.9 trillion American Rescue Plan, passed in March. The bill — almost completely unfunded — sought to counter the effects of the Covid pandemic by focusing on demand-side stimulus rather than on investment,” he wrote. “That has contributed materially to today’s inflation levels.”