{"id":1436134,"date":"2022-04-13T18:44:58","date_gmt":"2022-04-13T22:44:58","guid":{"rendered":"http:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1436134"},"modified":"2022-04-13T18:45:02","modified_gmt":"2022-04-13T22:45:02","slug":"white-house-refuses-to-take-responsibility-for-historic-inflation-we-had-to-spend-trillions-to-prevent-economic-spiral","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-refuses-to-take-responsibility-for-historic-inflation-we-had-to-spend-trillions-to-prevent-economic-spiral\/","title":{"rendered":"White House Refuses to Take Responsibility for Historic Inflation: We Had to Spend Trillions to Prevent Economic Spiral"},"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\">36<\/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%2Fwhite-house-refuses-to-take-responsibility-for-historic-inflation-we-had-to-spend-trillions-to-prevent-economic-spiral%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=1436134&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\/BiPoll1236386777-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">The White House on Wednesday rejected the idea that President Joe Biden was wrong to spend trillions of dollars after taking office, despite historic levels of inflation that followed.<\/p>\n<p>White House press secretary Jen Psaki blamed inflation on the pandemic, snarled supply chains, and Russian President Vladimir Putin for forcing energy prices higher by invading Ukraine.<\/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>She dismissed critics of Biden\u2019s expansive spending like former Secretary of the Treasury for then-President Barack Obama Larry Summers.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cThe alternative would have been that we would have gone into a massive economic downward spiral and many Americans would have not have enough food to put on the table,\u201d she said.<\/p>\n<p>Biden\u2019s $1.9 trillion stimulus spending bill was joined with the president\u2019s $1.2 trillion infrastructure bill, marking historic spending for his first year of office.<\/p>\n<p>Since Biden first took office, Summers <a href=\"https:\/\/www.politico.com\/newsletters\/politico-nightly\/2022\/04\/06\/larry-summers-i-told-you-so-inflation-tour-00023430\">warned<\/a> that the president\u2019s multi-trillion dollar rescue plan would lead to devastating inflation rates that would overheat the economy and damage Democrats politically.<\/p>\n<p>A paper from the San Francisco Federal Reserve also <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/03\/29\/san-fran-fed-bidenflation\/\">pointed<\/a> to Biden\u2019s multi-trillion dollar spending plans for causing inflation.<\/p>\n<p>\u201cFiscal support measures designed to counteract the severity of the pandemic\u2019s economic effect may have contributed to this divergence by raising inflation about 3 percentage points by the end of 2021,\u201d a group of economists wrote in the weekly Economic Letter published by the Federal Reserve Bank of San Francisco on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The White House on Wednesday rejected the idea that President Joe Biden was wrong to spend trillions of dollars after taking office, despite historic levels of inflation that followed. White<\/p>\n","protected":false},"author":24,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1436134","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\/1436134","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1436134"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1436134\/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=1436134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1436134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1436134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}