Tom Elliott shreds Biden economic adviser's 'insult to everyone's collective intelligence' about inflation

Remember when Treasury Secretary Janet Yellen said that inflation would be “transitory” and quickly go away? Well, inflation wasn’t transitory, and now Yellen is saying that the Fed will need “great skill” to bring inflation back down without crashing the economy:

The Federal Reserve has to use its judgment to bring inflation down along with the ever-present risk of a recession, Treasury Secretary Janet Yellen said Sunday.

“Of course [a recession] is a concern. The Fed is going to need great skill and also some good luck to achieve what we sometimes call a soft landing, which is bringing inflation down while maintaining the strength of the labor market,” Yellen said in an interview on CNN’s “State of the Union.”

Yellen said there is still a path to accomplishing a soft landing.

“We’ve got a good, strong labor market and I believe it is possible to maintain that,” Yellen said.

Feeling confident yet?

Meanwhile, a Biden economic adviser went on TV this morning to spin the issue of inflation away from Biden and the Democrats, and the gaslighting was on full blast:

WH's @HBoushey falsely claims Biden's inflation crisis — the worst in a century — is the fault of Covid & not their trillions in reckless spending funded via money printing.

Covid "bottlenecks … added fuel to that fire that was Putin's unprovoked war" pic.twitter.com/TVl5WKkyZo

— Tom Elliott (@tomselliott) September 12, 2022

Resolving inflation is easy for anyone not drunk on discredited Keynesian economics: Dramatically slash govt spending & strengthen the $ via higher interest rates & a reduced Fed balance sheet.

Biden refusing to deal in reality is setting the stage for a decade of hyperinflation

— Tom Elliott (@tomselliott) September 12, 2022

Imagine a patient is suffering from an illness & a doctor proposes a treatment, but another doctor says that treatment will actually worsen the patient's condition, yet they proceed anyway …

— Tom Elliott (@tomselliott) September 12, 2022

— only for the dissenting doctor to be proven right & the patient goes from stable to critical condition. The original doc however says the treatment is working even as the patient is dying, we just need a bigger dose. …

— Tom Elliott (@tomselliott) September 12, 2022

That's roughly our situation with the Biden Admin. Rather than apologizing to the family of the patient for nearly killing him & suspending the treatment, they are confusing the family by redefining "critical condition" & banning the dissenting doctor from talking to patients …

— Tom Elliott (@tomselliott) September 12, 2022

Of course, in our case Biden's being assisted by the major media, who works to hold the patient down so the "medicine"/poison can continue being administered against the family's wishes. After the patient dies, we will of course be told, "No one could have expected it!"

— Tom Elliott (@tomselliott) September 12, 2022

Want some more gaslighting? You’ve got it!

Here's more @HBoushey gaslighting. Trump's emergency Covid expired in 2020. Had Biden done nothing, the deficit would've reduced more than $2 trillion. Instead Dems authored trillions in new spending & reduced the size of this deficit reduction. pic.twitter.com/SoyK3FMWI0

— Tom Elliott (@tomselliott) September 12, 2022

In the final insult to everyone's collective intelligence, Ms. Boushey absurdly claims that because Congress added $2.8 trillion to the debt in 2021 rather than $3.1 in 2020, we can afford writing off hundreds in billions in student loans w/ no inflationary impact pic.twitter.com/FadESRawA9

— Tom Elliott (@tomselliott) September 12, 2022

Team Biden knows what the solution is to every problem: