Biden's student loan handout will 'wipe out' any inflation reduction, former Treasury official says

[DigitalDrifter]

Is there anyone that seriously believed it wouldn't?

Former Deputy Assistant Treasury Secretary Christine McDaniel warned of the "inflationary effects" of President Biden's student loan handout, which comes weeks after the president signed the Inflation Reduction Act. On "Mornings with Maria" Tuesday, McDaniel responded to new analysis showing the tax burden Americans could face due to the plan.

Biden's student loan handout will 'wipe out' any inflation reduction, former Treasury official says

 

[Resnic]

There was never an intent to wipe out inflation. The inflation reduction act was just build back better renamed to make it more palatable to Americans and make it sound like they were going to fix inflation. It was just a Trojan horse.

They don't want to fix inflation, they just want people to think they are doing something. All they care about is the appearance of doing something.

Inflation is due to them just creating billions and trillions of dollars backed by nothing.

If I had the only marble in the world it would be valuable. If I had 10,000 they would still be worth a lot but not as much as one. Now if I had trillions of marbles they wouldn't be worth shit. That's how our money is, the more we print the less its worth. And when we print it with nothing back it up it's worth even less. Us currency is really a debt market, and when your debt isn't backed by tangible assests it's worth nothing. That's why Kennedy was killed is because he wanted to go back to money being backed by gold and silver and not empty promises.

They are causing inflation knowingly and sitting there saying it's fine, just hoping to keep it held together as long as possible.

 

[Silent Warrior]

Remember, to the left it is the name of the act that is important, not the results.