An Obama czar just said one sentence that turned Joe Biden red with rage
Joe Biden was once Barack Obama’s loyal wingman.
But his disastrous Presidency has former Obama officials panicking.
And an Obama czar just said one sentence that turned Joe Biden red with rage.
Joe Biden managed to destroy the economy in record time after being handed a recovery from the pandemic by President Trump.
Biden’s incompetence and socialist policies have taken the economy back to the dark days of Jimmy Carter.
The $1.9 trillion American Rescue Plan was Joe Biden’s first major bill in office.
Even though Biden said the bill was for the pandemic, only 8% of it went towards that purpose.
As the largest left-wing giveaway in history, it flooded the economy with trillions in debt-fueled spending that unleashed devastating inflation on the country.
Now America is in the midst of its worst inflation crisis in 40 years.
One former Obama official took to the pages of the New York Times to destroy Biden over the economic mess he created.
Steve Rattner was tapped by Obama to head up the bailout of automakers as the administration’s car czar.
In a New York Times Op-Ed, Rattner ripped Biden for economic destruction caused by the American Rescue Plan.
He argued the only way out of the inflation crisis was by tipping the economy into recession to destroy demand and force consumers to spend less.
“That’s not desirable, but it is the price we pay for poor economic policies delivered by the White House, by Congress, and by the Federal Reserve” Rattner remarked.
“Those poor policies include far too much budgetary stimulus as we addressed Covid challenges. The $1.9 trillion American Rescue Plan passed in the early days of the Biden administration will go down in history as an extraordinary policy mistake,” he added.
This is a jaw-dropping statement from someone who worked alongside Biden during the Obama regime.
Things are going so bad for Biden that an Obama official is saying the American Rescue Plan is a historical blunder in the most left-wing paper in the country.
Biden has touted the bill as “historic” and as the signature piece of legislation for his Presidency.
Democrats know Biden is a catastrophe and they’re desperately trying to distance the Party from him.
But Rattner had even worse news for Biden.
He said the country would be facing a recession just as the 2024 campaign season kicked off.
Rattner cited former Obama economic advisor Larry Summers, who said that signals from the bond market along with the combination of high inflation and low unemployment show that a recession is coming.
Rattner concluded with a warning, saying a recession is “a potential electoral nightmare for Democrats to ponder.”
He joins former Obama advisors David Axelrod and Larry Summers in going after Biden on inflation.
With the Democrats openly grumbling about the Biden economy, this could be a sign they’re ready to pull the plug on him for 2024.