Elizabeth Warren came up with a ridiculous solution for Biden’s failing economy

Joe Biden’s handling of the economy has been a disaster for the Democrats.

And they have no good answers to pull themselves out of the tailspin.

Now, Elizabeth Warren came up with a ridiculous solution for Biden’s failing economy.

The Democrats want to have their cake and eat it, too.

They have implemented bad economic policies, and they don’t want to suffer the consequences.

Senator Elizabeth Warren exemplified that mindset when she appeared on CNBC.

Squawk Box co-host Carl Quintanilla asked, “They say don’t fight the Fed, but you seemed interested in fighting the notion that rate hikes can help offset inflation. Why?”

The Federal Reserve has gradually been raising interest rates in order to fight inflation after they had been artificially low for over a decade.

Raising interest rates is a necessary action in order to heal the economy.

But Warren somehow wants to use magical thinking to get around economic pain.

She said, “I’m very concerned. We know that some of the causes of inflation are supply chain problems, COVID outbreaks that continue around the world, Vladimir Putin invading the Ukraine, monopolies or near-monopolies engaging in price gouging, and increases in the interest rate won’t fix any of those. Jerome Powell has actually admitted that in testimony before Congress, and yet he continues to drive forward with what so far having historically fast, aggressive, high-interest rate increases. So if it’s not going to help bring down a lot of the prices in our economy, what it can do is actually pitch this economy into a recession. So I think that that’s something the Fed should consider. I think they should moderate this aggressive attack.”

Warren left out the biggest driver of inflation: government spending.

Inflation is more dollars chasing fewer goods, and the government, particularly under Joe Biden, has been spending money like crazy.

Economic pain is going to be felt one way or the other.

Rate hikes are necessary to get the economy back in order.

Politicians have gotten used to band-aid solutions, but other options have been exhausted.

Warren continued, “We are really talking about is the Fed is trying to sharply raise rates so that businesses will contract so that they will either cut hours for employees or lay employees off. That means a lot of pain imposed on people. Look, think about it this way, with the interest rate increases, if they can’t address a whole lot of the reasons that we have this inflation, but they can force a lot of people into layoffs and no income coming in, look at the brutal situation that puts people in. We continue to have high prices but also have high unemployment. At the same time, that is not the position that we want to be in. I think the problem we’ve got here is the Fed has only one tool in its toolbox, raising interest rates, so it’s using that tool very aggressively, whether that’s the medicine that fixes this problem or not. We need to attack inflation on multiple fronts.”

If Democrats were serious about easing economic hardship, they would be slashing and freezing regulation, and making the business climate as inviting as possible.

Instead, Democrats are hamstringing businesses in pursuit of their nonsensical goals like the Green New Deal.

The Democrats can’t spend money irresponsibly while also punishing businesses.

That’s partly how this country ended up in the current mess.

Stay tuned to Right News Wire for any updates to this ongoing story.

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