{"id":589431,"date":"2021-07-12T20:36:22","date_gmt":"2021-07-13T00:36:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=589431"},"modified":"2021-07-12T20:36:24","modified_gmt":"2021-07-13T00:36:24","slug":"imf-economist-bidens-policies-to-turn-u-s-into-latin-american-style-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/imf-economist-bidens-policies-to-turn-u-s-into-latin-american-style-economy\/","title":{"rendered":"IMF economist: Biden\u2019s policies to turn U.S. into Latin American-style economy"},"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\">22<\/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%2Fimf-economist-bidens-policies-to-turn-u-s-into-latin-american-style-economy%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=589431&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 id=\"attachment_2454247\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2454247\" class=\"wp-caption-text\">Joe Biden delivers remarks on infrastructure spending at McHenry County College in Crystal Lake, Ill. (AP Photo\/Evan Vucci)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 5:20 PM PT \u2013 Monday, July 12, 2021<\/h5>\n<p>A rising number of economist have warned Joe Biden\u2019s policies could turn the U.S. into a Latin American type of economy. On Monday, Former International Monetary Fund Deputy Director Desmond Lachman said Biden\u2019s inflation, money printing and high government spending posed a problem for the U.S. economy.<\/p>\n<p>Lachman said Biden\u2019s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Biden&#8217;s plan for economic recovery:<\/p>\n<p>-inflation,<br \/>-increase taxes,<br \/>-overspend by trillions,<br \/>-pay people to stay home and not work.<\/p>\n<p>And we are stuck paying the price for his irresponsibility.<\/p>\n<p>\u2014 Congressman Greg Steube (@RepGregSteube) <a href=\"https:\/\/twitter.com\/RepGregSteube\/status\/1414570247563055104?ref_src=twsrc%5Etfw\">July 12, 2021<\/a><\/p>\n<\/blockquote>\n<p>Lachman went on to point out such policies lead to devaluation of the national currency and fuel poverty, as seen in many Latin American countries.<\/p>\n<p>\u201cWhat we\u2019ve already got in the pipeline is going to cause inflation,\u201d he asserted. \u201cNow if you can add infrastructure plan and the families plan, and it\u2019s not going to be properly financed with real taxes that restrain spending, then you\u2019re just going to be adding to the inflationary pressures.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/DonaldJTrumpJr?ref_src=twsrc%5Etfw\">@DonaldJTrumpJr<\/a> on Biden&#8217;s economy: &#8220;You will save an accumulative 16 cents on your barbecue. [\u2026] That&#8217;s great as long as you don&#8217;t have to drive to the end of your driveway, in which case the extra dollar per gallon of fuel will eat up that 16 cents.&#8221; <a href=\"https:\/\/t.co\/pZWydY8OQi\">pic.twitter.com\/pZWydY8OQi<\/a><\/p>\n<p>\u2014 Donald Trump Jr. (@DonaldJTrumpJr) <a href=\"https:\/\/twitter.com\/DonaldJTrumpJr\/status\/1412140047864844296?ref_src=twsrc%5Etfw\">July 5, 2021<\/a><\/p>\n<\/blockquote>\n<p>Lachman added the federal reserve would have to raise interest rates and halt money printing to curb inflation. However, he said this wouldn\u2019t help solve budget problems.<\/p>\n<p>\u201cWhat I think has gone wrong in this country is that there\u2019s no real constituency for anything vaguely approaching a responsible budget policy,\u201d he expressed. \u201cThis is how we see that budget deficit keeps rising and the debt keeps rising.\u201d<\/p>\n<p>Lachman went on to warn Biden\u2019s policies will eventually result in bubbles bursting in the housing and stock markets, which could bring on a new recession in the nation.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/president-trump-receives-record-support-at-cpac\/\">President Trump Receives Record Support At CPAC<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Joe Biden delivers remarks on infrastructure spending at McHenry County College in Crystal Lake, Ill. (AP Photo\/Evan Vucci) OAN NewsroomUPDATED 5:20 PM PT \u2013 Monday, July 12, 2021 A rising &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-589431","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\/589431","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=589431"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/589431\/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=589431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=589431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=589431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}