Obama Adviser Admits Liberal Spending Ruined America's Economy

President Joe Biden is likely reeling after the latest statement on inflation from a former economic adviser of President Obama.

According to Dr. Mohamed El-Erian, it is going to be “very hard” to reduce inflation back to the target rate of 2%.

Why?

Because of President Joe Biden and his BAD decisions.

El-Erian recently shared his thoughts on inflation and the cause behind it all.

“What they call the last mile, which is getting from around 3.5% inflation to 2%, which is the target, is going to be very hard, and it will include trade-offs. Why is this very hard? First, domestically, things have changed. We used to be in a deflationary environment, deregulation, liberalization, fiscal prudence,” El-Erian said.

El-Erian did not stop there.

“Now, we have industrial policy, government intervention, and fiscal irresponsibility. So, the domestic environment has changed. The global environment has changed. We are no longer globalizing, we are fragmenting the global economy. So, if you look at the environment, you’re trying to overcome a lot of headwinds when those were tailwinds,” El-Erian continued.

Someone that used to financially advise a Democratic president is letting us know that even if things change, it is going to take a lot of time to repair the damage done while Joe Biden was in charge.

Biden’s approval ratings are at an all-time-low for a good reason: he has run this country into the ground

We need someone in charge who understands how to get things back under control.

Whether you support former President Donald Trump or not, you have to admit the facts.

When Trump was president, gas prices were more affordable than they had been in years.

The housing market was thriving as was the job market.

One thing is abundantly clear – we cannot afford four more years of the Biden administration.

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