Economist Kevin Hassett rips the Biden administration's 'stunning' lies about GDP, inflation and spending, arguing the president isn't investing in America as his tour says.
Former Council of Economics Advisers Chairman Kevin Hassett discusses the current U.S. banking system, recession fears, Democrats' spending sprees and the country's labor force participation.
"Where's Pinocchio when you need him, right?" the economist said. "The bottom line is that GDP was growing at 6.5% when Joe Biden took office and inflation was in the ones, and inflation took off because of their massive spending… so they're spending all this money, they're driving inflation up, they're throwing the economy into recession again this year.
"In the past, when you had the House controlled by Republicans and a Democrat in the White House, that they worked out a deal where there was a little bit of give and take. In fact, during the Obama administration, they raised the debt limit a dollar for every dollar cut in spending. And Joe Biden probably doesn't remember that far back, but those things were called the Biden negotiations," the economist explained.
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