Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

  • Jamir Macejkovic
  • July 9, 2024 12:04am
  • 206

Prominent economists who endorsed Biden in 2020 now warn of an "inflationary bomb" if Trump wins in 2024. Experts believe this move is an attempt by Democrats to shift responsibility for Biden's economic policies.

As concerns about President Joe Biden's cognitive decline intensify, the Democratic Party is strategizing to safeguard their position. This includes assessing potential replacements for Biden and establishing a contingency plan should former President Donald Trump reclaim the presidency.

In anticipation of a Trump victory, Democrats are laying the groundwork to hold him accountable for Biden's economic policies. A group of high-profile economists recently penned a letter warning of an "inflationary bomb" if Trump is re-elected. Notably, several of these economists had previously endorsed Biden's Build Back Better plan, which later became the Inflation Reduction Act.

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

This attempt to blame Trump for future economic woes stems from the Democrats' awareness of the impending economic crisis. They intend to exploit this situation by claiming they predicted it and placing the blame squarely on Trump.

However, experts point to the Biden administration's deceptive measures to artificially control inflation. The release of oil from the Strategic Petroleum Reserve has suppressed energy prices, but this tactic can only be employed for a limited period.

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Furthermore, the Congressional Budget Office has projected a staggering $1.9 trillion deficit in the current fiscal year. This massive deficit raises concerns about the national debt's impact on the economy.

The burden of the debt, as highlighted in a recent Wall Street Journal piece, could reduce income growth by 12% over the next three decades.

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Additionally, the Federal Reserve may need to resort to monetizing the debt, which could lead to persistent inflation.

Other Biden administration initiatives, such as the "green" energy push, also exert an economic drag.

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Democrats Use Economists to Set Up Trump to Take Blame for Biden's Economic Failures

Despite the massive deficit, GDP growth in Q1 of 2023 was a meager 1.4%. This indicates an underlying economic slowdown that government intervention cannot conceal.

Consumers are also resorting to savings and debt to cope with rising living expenses, signaling imminent economic difficulties.

Should Trump prevail in 2024, the Democrats will relentlessly blame him for the economic struggles, which they themselves have exacerbated.

In conclusion, Democrats are using economists to establish a narrative that absolves them of responsibility for the economic consequences of Biden's policies. They aim to pin the blame on Trump, regardless of whether he wins or loses. This strategy reflects their desperation to deflect criticism as the economy continues to deteriorate.

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