{"id":599725,"date":"2021-07-21T22:06:38","date_gmt":"2021-07-22T02:06:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=599725"},"modified":"2021-07-21T22:06:41","modified_gmt":"2021-07-22T02:06:41","slug":"biden-new-analysis-shows-my-multi-trillion-dollar-plans-will-reduce-inflation-reduce-inflation-reduce-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-new-analysis-shows-my-multi-trillion-dollar-plans-will-reduce-inflation-reduce-inflation-reduce-inflation\/","title":{"rendered":"Biden: New Analysis Shows My Multi-Trillion Dollar Plans Will \u2018Reduce Inflation, Reduce Inflation, Reduce Inflation\u2019"},"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\">30<\/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%2Fbiden-new-analysis-shows-my-multi-trillion-dollar-plans-will-reduce-inflation-reduce-inflation-reduce-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=599725&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\/07\/BidenTH-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>President Joe Biden claimed during a CNN town hall on Wednesday night that a new analysis found that his multi-trillion dollar spending bills would \u201creduce inflation,\u201d despite the fact that the analysis does not appear to directly say that.<\/p>\n<p>\u201cYou seem pretty confident that inflation is temporary, but you\u2019re pumping all of this money into the economy, couldn\u2019t that add to\u2013?\u201d CNN\u2019s Don Lemon said.<\/p>\n<p>\u201cNo, look, here\u2019s the deal, Moody\u2019s today \u2026 a Wall Street firm, not some liberal think tank, said, if we pass the other two things I\u2019m trying to get done, we will, in fact, reduce inflation, reduce inflation, reduce inflation,\u201d Biden said, \u201cbecause we\u2019re going to be providing good opportunities and jobs for people who, in fact, are going to be reinvesting that money back in all the things we\u2019re talking about, driving down prices, not raising prices.\u201d<\/p>\n<p>The analysis from Moody\u2019s Analytics suggested that fears that Biden\u2019s plans \u201cwill ignite undesirably high inflation and an overheating economy are overdone\u201d and claimed that the plans could \u201cease inflation pressures.\u201d<\/p>\n<p>The <a href=\"https:\/\/www.moodysanalytics.com\/-\/media\/article\/2021\/macroeconomic-consequences-of-the-infrastructure-and-budget-reconciliation-plans.pdf\">analysis<\/a> states:<\/p>\n<blockquote readability=\"28\">\n<p><em>Several concerns have been expressed regarding the substantial additional fiscal support being considered by lawmakers. Some worry that the proposed fiscal policy is too expansive given support already provided to the economy during the pandemic, and this will exacerbate the inflation pressures that are evident as the economy reopens from the pandemic. Inflation will remain uncomfortably high even after the current disruptions to the supply side of the economy caused by pandemic are ironed out, and the economy could potentially overheat as the Federal Reserve is forced to respond by tightening monetary policy quickly.<\/em><\/p>\n<p><em>This concern cannot be dismissed, but it is likely misplaced. With unemployment still near 6% and labor force participation well below where it was pre-pandemic, the economy still has considerable slack, equal to approximately 10 percentage points of GDP.<\/em><\/p>\n<p><em>But the bipartisan infrastructure deal and reconciliation package will deliver less than a percentage point of GDP growth in 2022 and closer to 2 percentage points of GDP growth each year from 2023 to 2025. Given the fiscal support still in train, mostly from the ARP, this would be just enough to provide the added GDP needed to get the economy back to full employment. Moreover, much of the additional fiscal support being considered is designed to lift the economy\u2019s longer-term growth potential and ease inflation pressures. For example, consider the additional spending on new rental housing supply for lower-income households, which is critical to rein in rent growth and housing costs, or the efforts to reduce prescription drug costs.<\/em><\/p>\n<\/blockquote>\n<p>WATCH:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"8.6166666666667\">\n<p lang=\"en\" dir=\"ltr\">Biden: Our multi trillion dollar spending bills \u201cwill reduce inflation, reduce inflation, reduce inflation&#8221; <a href=\"https:\/\/t.co\/NcKVVaBxxZ\">pic.twitter.com\/NcKVVaBxxZ<\/a><\/p>\n<p>\u2014 Tom Elliott (@tomselliott) <a href=\"https:\/\/twitter.com\/tomselliott\/status\/1418005280722460679?ref_src=twsrc%5Etfw\">July 22, 2021<\/a><\/p>\n<\/blockquote>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden claimed during a CNN town hall on Wednesday night that a new analysis found that his multi-trillion dollar spending bills would \u201creduce inflation,\u201d despite the fact that &#8230;<\/p>\n","protected":false},"author":1,"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-599725","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\/599725","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=599725"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/599725\/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=599725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=599725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=599725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}