(FreedomBeacon.com)- While appearing on CNN’s “The Situation Room” back on November 15, White House press secretary Jen Psaki told one heck of a lie that was immediately called by economists.
In discussing Biden’s massive Build Back Better welfare spending bill, Psaki told Wolf Blitzer, “economists across the board say this will actually help reduce inflation, address inflation over the long term.”
That same day, while defending the $1.75 trillion Build Back Better bill during her press briefing, Psaki assured reporters “no economist out there is projecting that this will have a negative impact on inflation.”
NBC's Peter Alexander: "Americans are seeing their dollars, their paychecks stretched right now. Why should Americans not be concerned that injected another $1.57 trillion or more would raise inflation?"
Psaki: "B/c no economist out there is projecting that[.]"
Um, wut? pic.twitter.com/Cz4vcguSvs
— Curtis Houck (@CurtisHouck) November 15, 2021
This is either delusional thinking or Psaki is knowingly lying.
The lie during her press briefing was so egregious, the liberal fact-checking site PolitiFact, which typically bends over backward to protect Jen Psaki’s litany of previous lies, issued its very first “False” determination against the thoroughly dishonest press secretary.
PolitiFact quoted several economists who disputed Psaki’s claim that the massive spending bill would have no impact on inflation. Most of them argued that while the impact might be small or even temporary, the Build Back Better bill would definitely push inflation upward rather than downward.
PolitiFact concluded its factcheck by saying the “broad consensus” from economists is that the spending bill will increase inflation, but its impact “will be modest and brief.” Therefore, they rated Psaki’s press briefing statement “False.”
But even the argument that the Build Back Better bill would only cause a “modest and brief” increase in inflation is probably untrue.
While the bill’s official price tag is $1.75 billion, in reality, its cost is upwards of $5 trillion. It would be impossible to pour that much money into the economy and not send inflation skyrocketing.
Economists also claimed in the spring that the sudden increase in inflation would only be temporary. They claimed that inflation would drop before the end of the year. They were wrong. Chances are they are also wrong in claiming that a massive spending bill like Build Back Better would only cause a “modest and brief” increase in inflation.