Former Obama Adviser Warns Democrat Anti-Price Gouging Bills Won’t Do Much to Lower Inflation

Former Obama Adviser Warns Democrat Anti-Price Gouging Bills Won't Do Much to Lower Inflation

Democrat INSIDER Exposes Latest Gimmick With Price Gouging Bills

( – A former Obama administration economic adviser has slammed the Democrats for wasting time with anti-business bills. Jason Furman says the “anti-price-gouging” legislation being pushed by the Left won’t help with the inflation crisis the country is facing. It isn’t businesses that are to blame for rising prices, he says; it’s Biden.

Furman talked to CBS’ “Face the Nation” on May 22 and said Democrat calls for price controls were a gimmick, and would “increase the type of shortages consumers probably hate even more than the high prices.” He had served as chair of the Council of Economic Advisers from 2013 to 2017 — and explained to host Margaret Brennan that the cause of rising prices is high demand, and a major cause of high demand is the amount of money Biden has pumped into the economy with his “American Rescue Plan.” He said he had thought at the time Biden’s spending plans were excessive, and its impact has been made worse by mistakes at the Federal Reserve.

Furman warned the federal government had tried price controls before — in the 1970s. He said, “it was a big failure. We shouldn’t be repeating it again.” The question is, will the Biden administration take note of that failure — or give in to the business-bashing of the far left?

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