MSNBC's Lawrence O'Donnell is joined by Yale Professor Jeffrey Sonnenfeld to discuss the latest evidence of the successes of Biden's economic policies. Sonnenfeld says Biden is having the strongest positive effect on the economy of any president since FDR.
Inflation rate in a vacuum doesn’t mean much. We lowered the inflation rate by harming workers, and our safety net is terrible. We could have dealt with the situation by using price controls and wealth taxes that affect the top rather than the bottom.
Worker are harmed more by inflation than low interest rates. The wealthy can ride out inflation with investments. Workers effectively have their salaries lowered by inflation.
High interest rates also affect the working class via mortgage increases and Rental properties increasing rent to deal with increased interest rates.
Inflation also causes rents to increase. And everything else.
That would be great, but just get that past the Republican House and DINOs Manchin and Sinema (though now an “Independent.”)
The reality is that for the vast majority of voting Americans, all they will see is “Inflation high” / “inflation low” and if Democrats don’t scrap together some way to reduce it, the worst party will use that against Dems and they will get back in, making everything 10x worse.