{"id":1552862,"date":"2022-07-13T15:49:09","date_gmt":"2022-07-13T19:49:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1552862"},"modified":"2022-07-13T15:49:12","modified_gmt":"2022-07-13T19:49:12","slug":"top-biden-adviser-called-out-for-saying-more-spending-will-finally-stop-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-biden-adviser-called-out-for-saying-more-spending-will-finally-stop-inflation\/","title":{"rendered":"Top Biden Adviser Called Out For Saying More Spending Will Finally Stop 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\">26<\/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%2Ftop-biden-adviser-called-out-for-saying-more-spending-will-finally-stop-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=1552862&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>National Economic Council Director Brian Deese said on Wednesday that the United States can address high <a href=\"http:\/\/dailywire.com\/topic\/inflation\">inflation<\/a> by passing more spending bills.<\/p>\n<p>The Consumer Price Index (CPI) <a href=\"https:\/\/www.dailywire.com\/news\/inflation-soars-to-new-high-of-9-1\">rose<\/a> 9.1% between June 2021 and June 2022, according to a report from the U.S. <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">Bureau of Labor Statistics<\/a>. During an <a href=\"https:\/\/twitter.com\/tomselliott\/status\/1547221333490237442?s=20&#038;t=ttIcuQfgOyzUUEgaV7eRuQ\">interview<\/a> with CNBC host Carl Quintanilla, Deese urged Congress to address the supply-side issues contributing to higher inflation by passing semiconductor manufacturing incentives.<\/p>\n<p>However, Quintanilla pressed Deese on the notion that higher spending would resolve the highest inflation in over 40 years, which comes on the heels of $6 trillion in <a href=\"https:\/\/www.dailywire.com\/news\/with-6-trillion-in-covid-relief-the-government-could-have-given-every-taxpayer-41000\">federal stimulus packages<\/a> enacted in response to COVID. \u201cThat brings us right back to the circular argument, Brian, that more spending is not what you typically do in the face of high inflation. How do we break out of that circle?\u201d Quintanilla asked.<\/p>\n<p>\u201cI think you have to look at the unique situation that we\u2019re in as an economy and think about how do we build more supply, how do we increase the productive capacity of our economy, so that we actually can supply more goods, bring prices down.\u201d replied Deese, who formerly worked as a senior adviser to President Barack Obama. \u201cWe know the answer on semiconductors exactly. We need more supply of those goods.\u201d<\/p>\n<p>Lawmakers have indeed <a href=\"https:\/\/www.dailywire.com\/news\/plans-for-new-semiconductor-factories-across-america-hit-major-roadblock\">proposed<\/a> the $52 billion CHIPS for America Act \u2014 yet Intel, TSMC, and GlobalFoundries issued \u201cpublic warnings\u201d that they might \u201cscale back their plans to make semiconductors\u201d in the United States since the funding has not yet been greenlit. \u201cThe rest of the world is moving rapidly despite the inability of Congress to get this finished,\u201d Intel CEO Pat Gelsinger said at a recent panel event, noting that Asian and European countries are passing new incentives for manufacturers.<\/p>\n<p>\u201cIf there\u2019s one thing to take away from this report, it\u2019s that there is more urgency now than ever in Congress moving to pass a bill to try to build more domestic semiconductors, to try to bring down the price of those goods,\u201d Deese told Quintanilla, pointing to rising prices for used cars.<\/p>\n<p>President Joe Biden <a href=\"https:\/\/www.dailywire.com\/news\/biden-dismisses-record-high-inflation-news-as-out-of-date\">acknowledged<\/a> on Wednesday that the new inflation reading is \u201cunacceptably high,\u201d but said that the data are \u201calso out-of-date\u201d since energy prices have eased in recent days.<\/p>\n<p>\u201cEnergy alone comprised nearly half of the monthly increase in inflation. Today\u2019s data does not reflect the full impact of nearly 30 days of decreases in gas prices,\u201d he argued in a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/07\/13\/president-biden-statement-on-cpi-inflation-in-june\/\">statement<\/a>, noting that gas prices have fallen by $0.40 since June. \u201cThose savings are providing important breathing room for American families.\u201d<\/p>\n<p>Gas prices fell to $4.63 per gallon as of Wednesday, according to <a href=\"https:\/\/gasprices.aaa.com\/\">AAA<\/a>. Yet national average gas prices in early June surpassed <a href=\"https:\/\/www.dailywire.com\/news\/gas-prices-hit-grim-national-average-of-5-per-gallon\">$5.00 per gallon<\/a>, even as prices were $2.38 per gallon ahead of Biden\u2019s inauguration and $3.53 ahead of the Russian invasion of Ukraine, according to the U.S. <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=PET&#038;s=EMM_EPMR_PTE_NUS_DPG&#038;f=W\">Energy Information Administration<\/a>.<\/p>\n<p>Beyond the semiconductor legislation, Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/07\/13\/president-biden-statement-on-cpi-inflation-in-june\/\">promised<\/a> to \u201curge Congress to act, this month, on legislation to reduce the cost of everyday expenses that are hitting American families,\u201d such as prescription drugs, utility bills, and health insurance premiums. Some Democratic lawmakers have <a href=\"https:\/\/www.dailywire.com\/news\/pelosi-pushes-democratic-bill-that-would-give-biden-power-to-control-gas-prices\">supported<\/a> legislation that would allow Biden to control prices by declaring an \u201cenergy emergency\u201d to stop fuel companies from selling at prices deemed \u201cunconscionably excessive.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Economic Council Director Brian Deese said on Wednesday that the United States can address high inflation by passing more spending bills. The Consumer Price Index (CPI) rose 9.1% between June 2021 and June 2022, according to a report from the U.S. Bureau of Labor Statistics. During an interview with CNBC host Carl Quintanilla, Deese &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1534437,"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-1552862","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\/1552862","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1552862"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1552862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1534437"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1552862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1552862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1552862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}