Elizabeth Warren was forced to admit this humiliating truth about Biden’s economy

The American people are fed up with Joe Biden.

Democrats have been straining hard to carry water for him.

But Elizabeth Warren was forced to admit this humiliating truth about Biden’s economy.

Joe Biden’s approval ratings are in the dumpster.

Some poll numbers have Biden hovering around the high-30s, which is abysmal one year into his Presidency.

He’s under water with the American people on almost every major issue.

Biden gets particularly low marks on the economy, but the Democrat Media Complex has been attempting to prop him up.

Senator Elizabeth Warren attempted to sugarcoat his economy, but she ended up admitting that his spending policies contributed to inflation.

During an interview with “Pod Save America,” Warren explained, “We got out there, just about a year ago right now, and passed what was called the American Rescue package. And you may remember, it was a lot of money, but it was money that went into vaccines and the — kind of the community health center way of getting distribution out. It was money that went into getting our schools open again and making sure they would have the resources to do that, and it was money that went into small businesses to keep those little businesses open and to keep jobs open, and it worked. People have jobs. And that 7 million [jobs] figure, that’s not just an abstraction . . .”

First, the blue-state lockdowns destroyed hundreds of thousands of small businesses across the country.

For example, in California, local bars and restaurants were forced to stay closed while film productions were allowed to commence and crew members were permitted to eat next to shut-down eateries.

The lockdowns did far more damage than any good that came from Biden’s American Rescue Plan that was rife with waste, fraud, and abuse – at least $80 billion of the PPP loans were fraudulent.

Warren also failed to mention that the labor force participation rate has not come close to pre-pandemic levels.

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Warren continued, “And yes, putting that money in at the same time that you then turned around and hit shifts in demand because of the pandemic, supply chain kinks because of the pandemic, Putin both driving up the cost of oil and the cost of wheat and soy and other things that are produced in Ukraine, but the other one is watching the giant corporations, particularly where there’s a lot of concentration. These giant corporations said everyone’s talking about price increases. This, they saw it, was their chance to pass along costs . . . but to take another dollop on the price scale and just boost their profits. So we’ve got all these companies that are at record profits, and because of increased concentration, there’s no way to compete those prices back down. So you’ve got these multiple threads running through here.”

Warren fell back on the talking points of “Putin’s price hike” and corporate greed being responsible for the highest inflation in 40 years.

Printing obscene amounts of money led to the inflationary crisis, i.e. more dollars chasing fewer goods.

The idea that prices would somehow stay fixed is fantasyland economics.

It turns out that forcing people to stay home, coercing businesses to shut down, and printing record amounts of dollars are harmful to the economy.

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

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