Former Obama Advisor Agrees: ‘Corporate Greed’ Isn’t The Boogeyman Behind Inflation
No, “corporate greed” is not to blame for the nation’s record-high rates of inflation and energy prices. And even President Barack Obama’s former top economic adviser agrees. Saying that there’s little to no evidence of abuse from corporate power.
Jason Furman, the former chair of President Barack Obama’s Council of Economic Advisers, told Bloomberg: “Corporate power is playing likely a very small role in the inflation that we’re seeing right now.”
He also called out many Democrat leaders who are blaming “price-gouging companies” for the “worst surge in Americans’ cost of living in more than a generation.”
Greed. Greed. Greed. While Americans are struggling at the pump, in the first three months of this year, 21 oil and gas companies made over $41 billion in profits, more than double their profits from last year. The problem is not inflation. The problem is corporate greed.
— Bernie Sanders (@SenSanders) May 13, 2022
Furman, like various other disagreeing leftists, believes the real reason for inflation is because “demand is way too high.”
So while the Biden administration continues to cast blame onto everyone but themselves, outlets like the Associated Press have explained that there is simply too much money in the economy right now thanks to government spending.
“Government spending has been a clear factor behind rising consumer prices, though it’s not the only one,” the AP noted in March. “[The] Biden pumped more money into the economy than it could handle.”
Tonight my wife and I tried to buy formula for our baby from five different stores. There was none.
Like so many families, we’re just regular people trying to feed our baby. This is ridiculous. This is the product of corporate greed and politics. pic.twitter.com/XKZOiiUMHL
— Charles Booker (@Booker4KY) May 15, 2022
Democrats like House Speaker Nancy Pelosi (D-CA) think differently than many economists. Blaming big business for all the increased costs of food and gasoline.
Now she’s pushing for price controls as her latest go-to solution. Playing hand in hand with the Biden agenda and its so-called devotion to combating inflation by advocating for even more government control.
“We need to have a bright light of transparency on how companies are making big profits at the expense — and this is in the energy sector, at the expense of the consumer,” Pelosi said on Sunday.
As critics have pointed out, “solutions” like the ones Pelosi is advocating for are merely excuses. Democrats know that they can’t admit fault for record-high costs, so they default to pointing fingers that diverting the public’s attention without addressing any of the root problems plaguing the nation.
Per an email to The Daily Wire from Congressional Leadership Fund Press Secretary Cally Perkins: “Inflation is at record highs, gas prices are soaring, shelves are empty, the economy is in shambles, and voters have only House Democrats to blame for it.”
“Instead of spinning up excuses, Democrats should reconsider their woke tax and spend agenda that got us into this mess to begin with,” she added.
Thankfully, Americans are seeing straight through these smokescreens and mirrors from Democrats because they have yet to feel any kind of relief in their personal lives. Families want answers, and more importantly, they want solutions as prices continue to soar with no signs of slowing down.
Playing the blame game just ain’t cutting it anymore.