‘No upside here’: Obama economist trashes Kamala’s socialist price controls
'This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality'
An economist at Harvard who worked in Barack Obama’s administration when he was in the White House is warning American voters that Kamala Harris’s ideas are not based in “reality.”
This comment came as Harris on Friday announced her agenda for price controls, claiming that would address the inflation that actually has been caused by the trillion dollar spending packages Joe Biden pushed, and she actually provided the critical votes to pass. That inflation is costing American consumers 20% more now for the same lifestyles they had when Bidan took office.
“This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” Jason Furman said in an interview with the New York Times about the time Harris was announcing her plan, a common device used by repressive nations to make their economies look better than they are.
“There’s no upside here, and there is some downside.”
Harris’ “price-fixing” scheme, she said, would stop “big corporations” from taking advantage of consumers. However, the Biden-Harris team has imposed on Americans, by virtue of Harris’s tie-breaking votes in the Senate, multiple trillions of dollars in spending of money the nation doesn’t have.
A report at Fox News said Harris has plans to give the Federal Trade Commission and states the authority to impose penalties for setting excessively high prices.
But one commentator suggested immediately Americans would have to decide whether they want the open market to decide prices, or some bureaucrat in Washington’s Deep State.
Furman was the National Economic Council chair under Obama and said plans like Harris’s are risky.
Washington Post columnist Catgherine Rampell also voiced criticism of Harris’s plans.
“It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.”
WND reported over the weekend that a JD Vance, President Donald Trump’s pick for vice president on the GOP ticket this year, warned giving Harris control over inflation policy is “like giving Jeffrey Epstein control over human-trafficking policy.”
Senator @JDVance with the quote of the weekend:
“Giving Kamala Harris control over inflation policy is like Jeffrey Epstein control over human trafficking policy” pic.twitter.com/jhjRU2H4BM
— Jack Poso (@JackPosobiec) August 18, 2024
He said, “”The American people just don’t buy the idea that Kamala Harris, who has been vice president for three and a half years, is somehow going to tackle the inflation crisis in a way tomorrow that she hasn’t for the past 1,300 days. Giving Kamala Harris control over inflation policy, Shannon, it’s like giving Jeffrey Epstein control over human-trafficking policy.”
JD Vance is spot on as always. pic.twitter.com/SGw688gxnb
— Liberacrat Media
(@Liberacrat) August 18, 2024
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