Stagflation ‘Just Around the Corner’: GrassleyEpoch Times, United States politics | The Epoch Times

Sen. Chuck Grassley (R-Iowa) took to Twitter to warn that President Joe Biden’s economic policies will have an effect closer to the stagflation of President Jimmy Carter than to the New Deal of President Franklin Roosevelt (FDR). Grassley wrote on Twitter that “Biden dreams of being [the] next FDR.” FDR’s New Deal policies, which pushed federal intervention into the economy further than ever before, continue to draw heated debate from proponents and critics alike. Still, for many liberals, the policies represent an ideal to be emulated, and Democrats have drawn inspiration from the New Deal even decades after FDR’s death. Grassley rejected the notion that Biden’s policies align with that track record, saying that Biden’s plans “are leading to an economic record closer to President Jimmy Carter.” Throughout the 1970s, the United States experienced a significant economic downturn. Despite the Federal Reserve pumping money into the economy, which has historically been seen …Read More

Leave a Reply