Biden's chief economic advisor says the government can't go bankrupt bc they can always just print more money

[Dagosa]

It's "stupid" when inflation has made working people's monthly bills add up to more than their monthly pay? With all due respect, White? Your attitude sucks! Those costs were NOT caused by those working people...they were caused by Joe Biden's fiscal policies!

As was the low unimployment. And Trump was responsible before a recession. Notice the people complaining are all working.

 

[Oddball]

Infrastructure spend is not inflationary as it enhances efficiency, while stimulating economy and you get something for the dollars spent.

 

[Billiejeens]

It's "stupid" when inflation has made working people's monthly bills add up to more than their monthly pay? With all due respect, White? Your attitude sucks! Those costs were NOT caused by those working people...they were caused by Joe Biden's fiscal policies!
When I say that Democrats don't care about the working man any more? Your posts prove my point!

White is so deep into his delusion, he can't be reached.
They have digitized trillions of dollars just to keep up the illusion that the economy is solvent.

 

[Man With A Plan]

No one printed more money than Trumps admin. No body.

Gee, Dagosa...do you think that might be because of Covid and shutting down the entire country? Duh?

 

[Oddball]

White is so deep into his delusion, he can't be reached.
They have digitized trillions of dollars just to keep up the illusion that the economy is solvent.

Likewise, most of the "job growth" has been make-work jobs, as a product of the profligate gubmint spending.

 

[Independent thinker]

This interview is embarrassing. This is the man President Biden nominated to be the Chair of the Council of Economic Advisors and he clearly has no understanding of monetary policy.

MMT has brought us to high inflation.

 

[Toddsterpatriot]

MMT has brought us to high inflation.

Luckily, we haven't actually tried MMT.

 

[Admiral Rockwell Tory]

Not for people in Tennessee.

Off topic but economy related: What do you think about this rail line from Memphis to Nashville and Chattanooga being proposed? Who is going to ride it?

 

[Billiejeens]

Likewise, most of the "job growth" has been make-work jobs, as a product of the profligate gubmint spending.

And people working part time side jobs.

 

[bendog]

This interview is embarrassing. This is the man President Biden nominated to be the Chair of the Council of Economic Advisors and he clearly has no understanding of monetary policy.

Technically, he's right. And he's not alone. But the impact of more dollars would be (and is right now) declining purchase power of a single dollar, or ... inflation. But Trump just two weeks ago suggested we simply devalue the dollar to devalue the debt.

Although, asking me to have faith in two egotistical self-worshipers like Stein and Bobby Kennedy's prick son ...

I agree our kids are screwed. Although, it would not be a huge fiscal lift to reduce deficits to manageable levels.

 

[Man With A Plan]

Technically, he's right. And he's not alone. But the impact of more dollars would be (and is right now) declining purchase power of a single dollar, or ... inflation. But Trump just two weeks ago suggested we simply devalue the dollar to devalue the debt.

Although, asking me to have faith in two egotistical self-worshipers like Stein and Bobby Kennedy's prick son ...

I agree our kids are screwed. Although, it would not be a huge fiscal lift to reduce deficits to manageable levels.

Don't we devalue the dollar every time the Government prints more of them?

We need to cut the debt and the only way that's going to happen is if we cut spending. It's so out of control that we're now spending more on interest on our debt than we are on defense and yet all I'm seeing from Washington is more plans to spend more money.

 

[White 6]

Off topic but economy related: What do you think about this rail line from Memphis to Nashville and Chattanooga being proposed? Who is going to ride it?

I wasn't even aware of the proposal. To my knowledge the only place to catch Amtrak is in West Tennessee is Newbern TN of all out of the way places. If they ran passenger rail directly connecting Memphis, to Nashville, then to the Southeast corner of the statin in Chattanooga, they would surely come through Jackson. I would ride it to go Tennesseeing. I do not know of the economic viability. Interesting idea, though. I would like to hear more about it.

 

[Blaster]

Too bad I can't print my own money.

 

[Billiejeens]

Too bad I can't print my own money.

Sucs to be u.

 

[Admiral Rockwell Tory]

I wasn't even aware of the proposal. To my knowledge the only place to catch Amtrak is in West Tennessee is Newbern TN of all out of the way places. If they ran passenger rail directly connecting Memphis, to Nashville, then to the Southeast corner of the statin in Chattanooga, they would surely come through Jackson. I would ride it to go Tennesseeing. I do not know of the economic viability. Interesting idea, though. I would like to hear more about it.

Read the story I think in the Tennessean the other day. Not sure, but I read an article. It could have been on the web. I don't think there are enough people traveling that route to make it make sense economically.

 

[White 6]

Read the story I think in the Tennessean the other day. Not sure, but I read an article. It could have been on the web. I don't think there are enough people traveling that route to make it make sense economically.

I looked it up in a 4-day-old Commercial Appeal. No mention of running it through Jackson. I wouldn't catch it in Memphis. I don't like going there.