Suddenly Elizabeth Warren Is Worried About Recession
Suddenly Elizabeth Warren Is Worried About Recession
Recession is now something to worry about according to Elizabeth Warren this morning.
Sen. Elizabeth Warren (D-Mass.) on Sunday said she is “very worried” that the Federal Reserve will “tip this economy into a recession” after Chairman Jerome Powell announced the bank would keep raising interest rates in an effort to combat inflation.
Warren told CNN’s “State of the Union” co-anchor Dana Bash that raising interest rates does not help alleviate problems with the economy caused by supply chain disruptions and exacerbated by the war in Ukraine.
“I am very worried about this,” the senator said. “There is nothing in raising the interest rates. Nothing in Jerome Powell’s toolbag that deals directly with those, and he has admitted as much in congressional hearings when I’ve asked him about it.”
This is rich coming from a woman who is totally on board with our government printing billions to send to Ukraine. It’s also very tone deaf given she voted FOR the Inflation Reduction Act that will do the opposite of reducing inflation, and did a victory lap about it.
“The Senate Democratic Majority advanced the Inflation Reduction Act – showing Americans that government can work for the people, not just special corporate interests. From adopting a plan to cut carbon emissions by 40% over the next eight years to authorizing Medicare to negotiate drug prices to raising corporate taxes for billionaire corporations, this historic legislation includes policies that I have long fought for. This bill will have a lasting impact on our planet and will help lower costs for Americans in Massachusetts and across our country.”
As we’ve noted, along with many others, this act will drive us into a recession. So, what does Lizzie do the other day? Celebrate student loan forgiveness.
Yes, about that student loan forgiveness. Who pays for this? We do.
My daughter is CURRENTLY doing exactly what you did, working part time paying taxes and her way though college in expensive Connecticut. No loans. Now you and @potus are forcing her tax dollars to be given to other students who refused to work for their education. UNACCEPTABLE— cindy z (@cindyet) August 28, 2022
How much will it cost? It depends upon which group has the more accurate math. Does the White House know how much this will cost taxpayers, and is the agency ready to handle this issue? They don’t have a freaking clue.
Despite unveiling the policy earlier this week, administration officials have yet to clarify how the proposal will be paid for in the long term. Since the current plan calls for the government to forgive the debt, that means taxpayers are likely on the hook for much of the principal and interest is dumped on top of the nearly $31 trillion in existing U.S. debt.
Fox News Digital has reached out to the White House multiple times inquiring how the Biden administration plans to pay for the student loan handout or whether it was eyeing future tax hikes to pay for it. On Sunday, a spokesperson responded by pointing to comments by Bharat Ramamurti, deputy director of the National Economic Council, who claimed Friday that the plan is “fully paid for” through deficit reduction.
You know, the deficit reduction we are going to experience after the Inflation Reduction Act takes effect? Yeah, no. The Biden Administration is literally making shit up as they go along, to the detriment of American taxpayers.
Suddenly Elizabeth Warren is worried about a recession, because Fed Chief Jerome Powell issued a warning about it from a pricey resort in Jackson Hole, WY. According to her, we have low unemployment, terrific job growth, and prices for goods and services are low. I laughed so hard when she said that! As we ALL know, those of us who live in reality anyway, prices for everything has gone up exponentially and continues to go up.
Elizabeth Warren, after goading the US into ZIRP, permanent deficit spending, infinite stimulus, and no accountability for any of it whatsoever when it causes an inflation spiral:— Max Meyer (@mualphaxi) August 28, 2022
tHe FeD iS tIpPing uS inTo a ReCesSioN pic.twitter.com/UiBwW3PbG4
Does Lizzie have a plan to solve this issue? Does she have a plan to keep the country out of recession? No. She choses to yammer on about Mitch McConnell and fairness instead of addressing the very real issues of inflation and the government’s massive spending spree. Besides, all of her prior plans and any future plans will involve more taxes not less.
In fact, Lizzie is pushing for MORE student loan debt forgiveness.
“If they (borrowers) aren’t struggling with student loan debt, they can contribute more to this economy, and that benefits all of us, whether we have debt or not,” she said.
In other words, forgive that debt. Then they’ll spend more money in other ways, and go into debt AGAIN! Great plan Lizzie. Awesome.
did u count the number of ppl who think that BIDEN N DEMS' BUY VOTES-SCAM is unfair n immoral?— jennifer kennedy (@jenni5262) August 28, 2022
we, the american taxpayers, will have to pay for ur buy votes-scam insanity, w/c will also result in more recession pains n out of control inflation. https://t.co/bDpu2jcXSw
Well Liz, YOU and your tax & spend policies are one of the reasons why this country is headed to a recession. Thanks bunches.
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Feature Photo Credit: Caricature by DonkeyHotey via Flickr, cropped and modified