Joe Biden and his team keep trotting out the same left-wing political operatives posing as economists to justify the massive “Build Back Better” socialist spending scam. The Biden administration knows that the complicit mainstream media will not dig too far into the nature of these “Nobel Laureates” and is banking on the ignorance of Americans.
The bankruptcy bill piles onto the unconstitutional $1.2 trillion dollar “human infrastructure” package passed last week, and the $1.9 trillion dollar “American Rescue Plan” that passed in March.
Who are these Nobel Laureates? Are they really advocating for a strong American economy as the Democrat establishment would have citizens believe?
The so-called “economists” may be Nobel Laureates, but a simple review of their highly partisan work reveals a disturbing hatred for America’s once-great free-market system. As reported at RAIR, many of these same radical left activists endorsed Joe Biden for president (for his economic and coronavirus policies), pushed for a global carbon tax, and fought against a balanced budget amendment to the Constitution.
In response to a tweet criticizing the massive new spending bill by Senator Tom Cotton, White House “Rapid Response Director” Mike Gwin obnoxiously retorted in part: “I think I’ll trust the judgment of 17 Nobel laureates over that of a junior Hill staffer operating a troll account.”
The Nobel Laureates have openly trashed the policies that led to a great economy under President Donald Trump. Shortly before the pandemic in December 2019, an article at The Week lamented that the powerful economy may lead to Trump’s re-election:
Wage growth is relatively high, inflation is low, unemployment is really low, and the stock market is booming. Could the economy hand Trump a second term?
Despite Trump’s excellent economy, the left-wing Nobel Laureate economists wrote in part that Biden’s economic policies would be “vastly superior to the counterproductive economic policies of Donald Trump.” The economists are not stupid and they are not blind. But they do have an agenda.
Radical Left Economists
As reported at RAIR, the goal for these Nobel Laureates is not a good economy for America, but to impose a “redistribution of wealth” on a global scale.
The Economic Policy Institute, a blandly named progressive think tank molded by Democratic Socialists of America member Lawrence Mishel, organized the “Build Back Better” letter signed by the Nobel Laureates.
When Mishel stepped down from his role as president in 2017, Thea Lee took his place. Notably, Thea Lee was hired in May by Biden’s U.S. Labor Department to “lead the agency’s International Labor Affairs Bureau (ILAB).”
One of the promoters of Build Back Better legislation, Joseph Stiglitz, praised the economy in Venezuela and personally met with the late dictator Hugo Chavez, has worked closely with George Soros (and is president and founder of Soros-funded globalist group “Initiative for Policy Dialogue“), and has chaired the world’s largest socialist organization “Socialist International”.
Of the Build Back Better legislation, Stiglitz says in part:
With the investments being financed by tax increases, the inflationary impacts will be at most negligible…
Joseph Stiglitz won his Nobel Prize with fellow economists George Akerlof and Michael Spence, all of whom formally endorsed Joe Biden. George Akerlof happens to be married to Treasury Secretary Janet Yellen, who has championed horrific policies, such as snooping on citizens’ bank accounts.
Nobel Laureate Robert Solow has served in varying capacities at the radical left Federation of American Scientists, Center for American Progress, and JStreet.
Another Nobel Laureate, Daniel Kahneman, has collaborated with fellow economist Cass Sunstein. Sunstein gained notoriety for his book “Nudge”, which he wrote with yet another Nobel Laureate economist Richard Thaler. “Nudge” was noteworthy for showing Democrats how to use legislation to “nudge” citizens to engage in certain behaviors.
‘Ease Inflationary Pressures’
White House Press Secretary Jen Psaki falsely claimed earlier this month that the Nobel Laureates said the spending bill would “reduce inflation.” In the wake of her blatant lie, the latest leftist talking point is that the Nobel Laureates believe that the bill will “ease inflationary pressures“ by vastly expanding government.
“Not one. Not two. Not even sixteen.” SEVENTEEN Nobel Prize-winning economists said that Joe Biden’s Build Back Better will ease longer-term inflationary pressures and lower costs for American families,” declared the official Democrat Twitter account.
“Not one, not two, not three, but seventeen Nobel prize-winning economists say that passing Build Back Better will ease inflationary pressures and lower costs for American families,” Biden’s handlers repeated.
“Build Back Better will help ease inflationary pressures and lower costs for families,” Biden said again:
And again…
And again…
“17 Nobel Prize-winning economists agree that passing the Build Back Better legislation will help ease longer-term inflationary pressures and lower costs for working families,” declared Kamala Harris, repeating the line almost verbatim.
“17 Nobel Prize-winning economists have said the plan will ease inflationary pressures and help more Americans participate in the economy,” regurgitated the White House Twitter account in part:
“17 Nobel Prize economists have said that BBB will ‘ease inflationary pressures,'” declared creepy White House Chief of Staff Ron Klain:
White House Deputy Press Secretary Andrew Bates gushed that “17 Nobel Prize winners in economics said that BBB will lower inflationary pressures” and “BBB will make the biggest investment in affordable housing ever, lowering rents.”
Do any of them actually think for themselves or are they just parrots for a talking point? The “Build Back Better” language is not limited to Biden. The globalist left has repeated it over and over again:
In order to justify their massive spending, the left, with help from RINOs, have redefined “infrastructure”. “Infrastructure” now means pretty much any new massive government program designed to get Americans dependent on the government.
Here is Biden talking about “human infrastructure”:
Inflation will necessarily skyrocket even more if the BBB spending scam passes, but that is of little concern to the left, whose cronies will be paid and whose massive new programs will be all but impossible to dismantle.