{"id":1047835,"date":"2021-11-23T10:29:14","date_gmt":"2021-11-23T15:29:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1047835"},"modified":"2021-11-23T10:29:18","modified_gmt":"2021-11-23T15:29:18","slug":"politifact-hits-jen-psaki-with-false-rating","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/politifact-hits-jen-psaki-with-false-rating\/","title":{"rendered":"PolitiFact Hits Jen Psaki With \u2018False\u2019 Rating"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpolitifact-hits-jen-psaki-with-false-rating%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1047835&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>PolitiFact has hit White House Press Secretary Jen Psaki with a \u201cfalse\u201d rating over her claim about how economists feel about President Joe Biden\u2019s spending agenda.<\/p>\n<p>Psaki has repeatedly said that economists back Biden\u2019s $1.75 trillion Build Back Better bill. Last week, for instance, Psaki told reporters that \u201cno economist out there is projecting that this will have a negative impaction inflation.\u201d<\/p>\n<p>\u201cIs it really true that there\u2019s not a single economist who thinks the bill will boost inflation? No,\u201d PolitiFact reacted in an&nbsp;<a href=\"https:\/\/www.politifact.com\/factchecks\/2021\/nov\/18\/jen-psaki\/jen-psaki-wrong-say-no-economist-thinks-b\/\" target=\"_blank\" rel=\"nofollow noopener\">article<\/a>&nbsp;published Thursday. \u201cMany economists have stated for the record that they think the inflationary impact of the bill will be small and brief. But we found lots of economists who say they expect modest inflationary pressure, at least initially.\u201d<\/p>\n<p>In her November 15 press briefing, Psaki was asked, \u201cWhy should Americans not be concerned that injecting another $1.75 trillion or more would further raise inflation?\u201d<\/p>\n<p>\u201cBecause no economist out there is projecting that this will have a negative impact on inflation,\u201d she said. \u201cAnd actually, what it will help do is it will help increase economic productivity. It will help economic growth in this country. That, and the Build Back Better Agenda will help reduce inflation, will help cut costs for the American people over the long term.\u201d<\/p>\n<p>PolitiFact cited some economists as proof.&nbsp;\u201cI\u2019m an economist, and I disagree,\u201d Douglas Holtz-Eakin, president of the center-right American Action Forum, told the fact-checking site.<\/p>\n<p>\u201cWe know there\u2019s lots of spending in the bill, and that it\u2019s front-loaded\u201d into the earlier years, he said. \u201cIf you cut taxes and increase spending, financed by debt, that will put upward pressure on inflation.\u201d<\/p>\n<p>Other economists said much the same thing.<\/p>\n<p>\u201cYou should wind up with primarily a deficit-financed spending bill that is going to be rolled out in an economy near full employment \u2026 . It will make the labor market even hotter and create even more price pressure,\u201d said Ethan Harris, head of global economics research at Bank of America.<\/p>\n<p>Michael Feroli, chief U.S. economist for JPMorgan Chase, agreed, telling PolitiFact: \u201cRight now, anything that expands aggregate demand is not warranted, not advisable. \u2026 The economy seems to be operating pretty close to its capacity constraints.\u201d<\/p>\n<p>The site said massive government spending causing inflation is just \u201ctextbook economics.\u201d<\/p>\n<p>\u201cInflation is the result of too much demand chasing too little supply,\u201d said John Leahy, a professor of macroeconomics and public policy at the University of Michigan. \u201cAnyone arguing that the bill is inflationary can point to any standard economic textbook: An increase in government spending should increase demand and thereby increase inflation. This will happen even if the spending is fully paid for through taxes, since the government spending increases demand one for one and the taxes reduce demand only to the extent that firms or consumers reduce their spending as a result, and this reduction is typically less than one for one.\u201d<\/p>\n<p>In conclusion, PoltiFact wrote:<\/p>\n<p><em>Psaki said, \u201cNo economist out there is projecting that (the Build Back Better bill) will have a negative impact on inflation.\u201d<\/em><\/p>\n<p><em>She\u2019s wrong to say that no economist foresees inflation as a result of the bill\u2019s passage.&nbsp;Numerous economists, including some allies of the White House, have gone on the record saying there probably will be inflationary effects, especially in the near term, if the bill is passed.<\/em><\/p>\n<p><em>However, the broad consensus among analysts has been that the bill\u2019s inflationary impact will be modest and brief.<\/em><\/p>\n<p><em>We rate the statement False.<\/em><\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PolitiFact has hit White House Press Secretary Jen Psaki with a \u201cfalse\u201d rating over her claim about how economists feel about President Joe Biden\u2019s spending agenda.Psaki has repeatedly said that economists back Biden\u2019s $1.75 trillion Build Back Better bill. Last week, for instance, Psaki told reporters that \u201cno economist out there is projecting that this will have a negative impaction inflation.\u201d\u201cIs it really true that there\u2019s not a single economist who thinks the bill will boost inflation? No,\u201d PolitiFact reacted in an\u00a0article\u00a0published Thursday. \u201cMany economists have stated for the record that they think the inflationary impact of the bill will be small and brief. But we found lots of economists who say they expect modest inflationary pressure, at least initially.\u201dIn her November 15 press briefing, Psaki was asked, \u201cWhy should Americans not be concerned that injecting another $1.75 trillion or more would further raise inflation?\u201d\u201cBecause no economist out there is projecting that this will have a negative impact on inflation,\u201d she said. \u201cAnd actually, what it will help do is it will help increase economic productivity. It will help economic growth in this country. That, and the Build Back Better Agenda will help reduce inflation, will help cut costs for the American people over the long term.\u201dPolitiFact cited some economists as proof.\u00a0\u201cI\u2019m an economist, and I disagree,\u201d Douglas Holtz-Eakin, president of the center-right American Action Forum, told the fact-checking site.\u201cWe know there\u2019s lots of spending in the bill, and that it\u2019s front-loaded\u201d into the earlier years, he said. \u201cIf you cut taxes and increase spending, financed by debt, that will put upward pressure on inflation.\u201dOther economists said much the same thing.\u201cYou should wind up with primarily a deficit-financed spending bill that is going to be rolled out in an economy near full employment \u2026 . It will make the labor market even hotter and create even more price pressure,\u201d said Ethan Harris, head of global economics research at Bank of America.Michael Feroli, chief U.S. economist for JPMorgan Chase, agreed, telling PolitiFact: \u201cRight now, anything that expands aggregate demand is not warranted, not advisable. \u2026 The economy seems to be operating pretty close to its capacity constraints.\u201dThe site said massive government spending causing inflation is just \u201ctextbook economics.\u201d\u201cInflation is the result of too much demand chasing too little supply,\u201d said John Leahy, a professor of macroeconomics and public policy at the University of Michigan. \u201cAnyone arguing that the bill is inflationary can point to any standard economic textbook: An increase in government spending should increase demand and thereby increase inflation. This will happen even if the spending is fully paid for through taxes, since the government spending increases demand one for one and the taxes reduce demand only to the extent that firms or consumers reduce their spending as a result, and this reduction is typically less than one for one.\u201dIn conclusion, PoltiFact wrote:Psaki said, \u201cNo economist out there is projecting that (the Build Back Better bill) will have a negative impact on inflation.\u201dShe\u2019s wrong to say that no economist foresees inflation as a result of the bill\u2019s passage.\u00a0Numerous economists, including some allies of the White House, have gone on the record saying there probably will be inflationary effects, especially in the near term, if the bill is passed.However, the broad consensus among analysts has been that the bill\u2019s inflationary impact will be modest and brief.We rate the statement False.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":159,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1047835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1047835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1047835"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1047835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1047835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1047835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1047835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}