(RightIsRight.co) – Even though a majority of Americans experienced economic safety during his first tenure, Nobel Prize-winning economists attacked and sharply criticized former President Donald Trump just before the first presidential debate.
In a public letter, the economists argued that if Trump wins the presidency and enacts his economic plans, he could trigger inflation. In turn, Joe Biden or the debate moderators are likely to mention this letter during Thursday night’s debate.
“Many Americans are concerned about inflation, which has come down remarkably fast. There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,” the economists claimed without evidence.
Moreover, public opinion polls indicated widespread disapproval of Biden’s handling of America’s inflation crisis. For instance, a June poll by YouGov for the Economist found that 60% of the public disapproved, with only 31% approving.
The Trump campaign strongly criticized the letter, highlighting that Biden’s spending was a major contributor to current inflation issues.
Karoline Leavitt, the Trump campaign’s national press secretary expressed:
“The American people don’t need worthless out of touch Nobel Prize winners to tell them which president put more money in their pockets. President Trump built the strongest economy in American history. In just three years, Joe Biden’s out of control spending created the worst inflation crisis in generations.”
Among the signatories are prominent economists like Joseph Stiglitz of Columbia University and Robert Shiller of Yale.
These economists were notably silent when Biden’s spending spree sparked the highest inflation in 40 years. Now, they are asking Americans to trust their predictions of economic disaster under Trump.
The letter also recalled criticisms from Trump’s presidency when economists predicted his tariff policies would raise consumer prices. In reality, inflation remained low during Trump’s term, generally below the Federal Reserve’s two percent target.
Yet, despite the majority of Americans believing Trump managed the economy better than Biden, the liberal economists who signed the letter are unanimous in their view that Biden’s agenda is “significantly better.”
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