{"id":1102798,"date":"2021-12-09T13:58:41","date_gmt":"2021-12-09T18:58:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1102798"},"modified":"2021-12-09T13:58:43","modified_gmt":"2021-12-09T18:58:43","slug":"majority-of-americans-dont-believe-bidens-claim-that-build-back-fights-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/majority-of-americans-dont-believe-bidens-claim-that-build-back-fights-inflation\/","title":{"rendered":"Majority of Americans Don&#039;t Believe Biden&#039;s Claim That &#039;Build Back&#039; Fights Inflation"},"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\">24<\/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%2Fmajority-of-americans-dont-believe-bidens-claim-that-build-back-fights-inflation%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=1102798&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/GettyImages-1237102147-e1639066721237-638x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">Most Americans are not buying the Biden administration\u2019s claims that its Build Back Better social welfare spending bill will combat inflation, a poll released Thursday<\/p>\n<p>Fifty-one percent of Americans say they are pessimistic that the bill would reduce inflation,&nbsp;an NPR\/Marist poll <a href=\"https:\/\/maristpoll.marist.edu\/polls\/npr-marist-national-poll-biden-economic-stimulus-december-2021\/\">showed<\/a>. Just 35 percent say they are optimistic, with 15 percent undecided.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>President Biden has repeatedly claimed that passing the $1.85 trillion Build Back package of tax breaks and spending programs, including a massive tax break for owners of expensive homes in high tax states, would help relieve inflationary pressures. Biden has touted a letter from 17 Nobel Prize-winning economists who indicated that the bill could \u201cease long-term inflationary pressures.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The American public, however, is unconvinced. The primary concern is not over long-term inflationary pressures. Over the longterm, inflation is already expected to ease thanks to many of the same factors that kept inflation ultralow in the years following the financial crisis. The concerns about high and accelerating inflation are over the deterioration of household buying power and the rise in the cost of living in the near and medium-term.<\/p>\n<p>Americans may also be turning a skeptical eye at the claim because it seems so opportunistic. The bill was being touted on completely different grounds before inflation became a major political headache for the Biden administration. And now that inflation is seen as the number one economic problem, the Biden administration announces the programs it was already pushing for will also fight inflation.<\/p>\n<p>A few weeks ago, White House press secretary Jen Psaki <a href=\"https:\/\/www.statesman.com\/story\/news\/politics\/politifact\/2021\/11\/24\/fact-check-build-back-better-plan-negatively-impact-inflation\/8723286002\/\">falsely claimed<\/a> that no economists were projecting the bill would add to inflation.<\/p>\n<p>\u201c[N]o economist out there is projecting that this will have a negative impact on inflation. And actually, what it will help do is it will help increase economic productivity.&nbsp; 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 Psaki said during a press briefing.<\/p>\n<p>In fact, many economists think the Build Back Better bill will add to inflation in the near term, with any deflationary pressure arising far off into the future, if ever. At a panel last month sponsored by the National Association for Business Economics, three economists\u2014White House favorite Mark Zandi at Moody\u2019s Analytics, Douglas Holtz-Eakin of the American Action Forum and Harvard University professor Doug Elmendorf\u2014said that passing the bill would <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-17\/top-economists-see-biden-s-spending-plan-adding-to-inflation?sref=Hpp1MmFS\">add to inflation next year,<\/a>&nbsp;although they disagreed about how much inflationary pressures would increase. That\u2019s largely because much of the spending and tax-breaks front-loaded, while the tax hikes and possibly supply chain relief would take years to kick in.<\/p>\n<p>Republicans are expectedly very downbeat about the prospects that the bill will fight inflation, with 76 percent in the pessimistic column. But a majority of independents\u201455 percent\u2014say they are pessimistic. Only 56 percent of Democrats say they are optimistic, with 26 percent saying they are pessimistic and 19 percent saying they are unsure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most Americans are not buying the Biden administration\u2019s claims that its Build Back Better social welfare spending bill will combat inflation, a poll released Thursday Fifty-one percent of Americans say &#8230;<\/p>\n","protected":false},"author":11,"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-1102798","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\/1102798","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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1102798"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1102798\/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=1102798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1102798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1102798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}