{"id":2195999,"date":"2024-03-10T17:26:01","date_gmt":"2024-03-10T21:26:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-economist-gary-cohn-consumers-completely-right-to-be-angry-over-biden-inflation\/"},"modified":"2024-03-10T17:28:01","modified_gmt":"2024-03-10T21:28:01","slug":"democrat-economist-gary-cohn-consumers-completely-right-to-be-angry-over-biden-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-economist-gary-cohn-consumers-completely-right-to-be-angry-over-biden-inflation\/","title":{"rendered":"Democrat economist Gary Cohn supports consumer anger over Biden inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/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%2Fdemocrat-economist-gary-cohn-consumers-completely-right-to-be-angry-over-biden-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=2195999&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--><h2>Democrat\u200b businessman Gary Cohn: Consumers are\u200b right to be \u200cangry about Biden&#8217;s inflation<\/h2>\n<p>In a recent\u200d interview, former President Donald \u2064Trump&#8217;s Director of the National Economic \u200cCouncil, Gary \u2064Cohn, expressed\u2064 his agreement with \u2063consumers who are frustrated by the inflation caused by President Joe Biden&#8217;s American Rescue Plan. Cohn made these remarks \u2062during an appearance\u200b on CBS News&#8217; &#8220;Face\u200d The Nation&#8221; with Margaret\u200c Brennan, where they\u2063 discussed Biden&#8217;s comments\u2064 about billionaires.<\/p>\n<p>Responding to \u200dBiden&#8217;s claim \u2064that billionaires \u200bdon&#8217;t \u2063pay taxes in\u2062 the U.S., Cohn strongly disagreed, stating that any billionaire with income in the country is paying at least 20 percent in taxes. He emphasized\u2064 that the U.S. does a good job of taxing income, as outlined in the Constitution. Cohn explained \u2062that even tax-free bonds are subject to \u2063a minimum of 20\u2063 percent tax on interest, \u2064dividends, or capital gains.<\/p>\n<p>Brennan then \u200bbrought up Biden&#8217;s attempt to incite anger against corporations, accusing them \u2064of taking advantage of the average person. Cohn shifted the conversation\u2063 to the\u2063 topic of inflation, highlighting\u200c its compounding effect. He explained that inflation accumulates year after year, \u2064and it&#8217;s not a reset to zero\u200d each time. Using the example of a basket of groceries that cost $100 at the beginning of 2020, Cohn \u2062illustrated how the cumulative \u2062effect of inflation can \u200dsignificantly increase prices over time.<\/p>\n<p>Brennan acknowledged that consumers were indeed \u2063facing higher costs due to inflation, contradicting the notion \u200bthat they were\u2062 mistaken. Cohn agreed, stating \u200bthat consumers\u200b were\u2064 rightfully frustrated because inflation was eroding their purchasing power and making it nearly impossible for them to invest in their \u200bfutures, such\u200c as buying a\u200b home.<\/p>\n<p>Overall, \u200dCohn&#8217;s interview shed light on the concerns of consumers and \u2063the\u2064 impact of inflation on their daily lives and\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-is-costing-the-average-u-s-household-an-extra-341-a-month\/\" title=\"Inflation Is Costing the Average U.S. Household an Extra 1 a Month\">long-term financial goals<\/a>.<\/p>\n<h3>Watch \u2063the interview here:<\/h3>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">WATCH: Gary Cohn decimates \u200bJoe Biden\u2019s inflation narrative &#038; Bidenomics:<\/p>\n<p>\u201cInflation has a compounding effect. \u200cMeaning \u2063as you \u200clook at inflation year-over-year, you\u2019re adding up those\u2064 numbers. You\u2019re\u200b not\u2064 starting \u2064at a \u200c0 every year. So if \u200dwe had\u200d 6% \u2064inflation last \u2062year and now we\u2026 \u2062 <a href=\"https:\/\/t.co\/Q0K2QjUNRJ\">pic.twitter.com\/Q0K2QjUNRJ<\/a><\/p>\n<p>\u2014 Steve Guest (@SteveGuest) <a href=\"https:\/\/twitter.com\/SteveGuest\/status\/1766907240580051119?ref_src=twsrc%5Etfw\">March 10, 2024<\/a><\/p>\n<\/blockquote>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1700760801843000&#038;usg=AOvVaw2PQrVSrJfhxNb4LcARqniG\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p> <\/p>\n<h2> What are the concerns of American consumers regarding inflation, according\u2063 to Gary \u2063Cohn?<\/h2>\n<p><span>  Hen asked about the\u2063 concerns of American\u2064 consumers regarding inflation, Cohn acknowledged their frustration and agreed with their sentiments. He highlighted that\u2062 inflation is a real\u2062 and tangible\u200c problem\u2062 that everyone should be \u2064concerned about. \u2063Cohn emphasized\u2064 that inflation affects the purchasing\u2063 power of Americans and can lead to a decrease in their standard of \u200dliving.<\/p>\n<p>Cohn attributed\u200b the current inflationary pressures to the American Rescue Plan implemented by President Biden.\u200d He explained that the massive amount of government spending included in the\u200d plan, coupled with the increase\u200b in the money supply,\u2063 has played a significant\u2064 role in \u200cdriving up prices. \u2063Cohn voiced his concern \u200bthat the \u2064inflationary consequences of such policies would ultimately hurt everyday Americans.<\/p>\n<p>Moreover,\u2064 Cohn \u200bexpressed \u2062his disapproval \u2064of the Federal Reserve&#8217;s response to inflation. He criticized the central bank&#8217;s decision\u200c to let inflation run high for an extended period, arguing that it will only \u200bexacerbate \u2064the problem. Cohn stressed the need for the Federal Reserve to act in a timely manner to prevent further escalation of inflation and protect the interests of\u200d the American people.<\/p>\n<p>Drawing on his\u200c expertise in economics,\u200b Cohn pointed out the potential consequences of unchecked inflation. He highlighted that \u200binflation erodes the \u200cvalue of savings and investments, making it harder for \u2062individuals and \u2063families to plan for their future. Additionally, he \u2063noted that rising prices lead\u200d to higher\u2063 costs for businesses, \u200cwhich can result in job losses and \u200bwage \u2063stagnation.<\/p>\n<p>Cohn concluded\u200c by reiterating the validity of consumers&#8217; anger towards the inflationary effects of President Biden&#8217;s policies. He called for a swift and\u2064 effective response from policymakers to address inflation and \u200dprotect\u200b the interests \u2063of \u2063the American people. Cohn emphasized\u200b the\u2062 importance of responsible economic \u200dpolicies that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-i-wont-vote-for-joe-biden-or-for-pro-censorship-nikki-haley\/\" title=\"Elon Musk rejects Biden and Haley due to censorship support\">prioritize long-term sustainability<\/a> and the well-being of all citizens.<\/p>\n<p>In a time of economic \u2063uncertainty and growing concern over inflation, Gary\u200b Cohn&#8217;s perspective \u2064as a Democrat\u2064 businessman offers a valuable insight. His \u2063agreement with consumers&#8217; frustrations and his expertise in economics provide a compelling argument \u200cfor\u200b the need to address the inflationary effects of President Biden&#8217;s policies. As the effects of inflation \u200bcontinue \u2062to impact the lives of \u200cAmericans,\u200d it is crucial that policymakers take into account\u200d the\u2064 concerns expressed\u200d by individuals \u200clike Cohn and \u200cwork towards\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-train-filled-with-cheering-migrants-barrels-toward-us\/\" title=\"VIDEO: Migrant-Filled Train Speeds Towards US with Cheers\">finding sustainable solutions<\/a> that promote economic stability and protect the interests of the American people.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democrat businessman Gary Cohn, ex-Director of the National Economic Council under Trump, acknowledged consumer anger towards inflation caused by Biden&#8217;s American Rescue Plan. Cohn expressed this view during a CBS News interview on Sunday<\/p>\n","protected":false},"author":134,"featured_media":2196000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/Gary-Cohn-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2195999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/Gary-Cohn-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2195999","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\/134"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2195999"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2195999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2196000"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2195999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2195999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2195999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}