"Blaming supply chain for inflation is like blaming your sweater for being too warm AFTER you just added several logs to the fire." Thats the quote @miamimike for NY Times op-ed piece today from Steven Rattner former Treasury Official in Obama Administration.
Too simplistic.............he writes.
"They were warned"
and for those that will say well thats just Fox News
Rattner also stated, “They can’t say they weren’t warned — notably by Larry Summers, a former Treasury secretary and my former boss in the Obama administration, and less notably by many others, including me. We worried that shoveling an unprecedented amount of spending into an economy already on the road to recovery would mean too much money chasing too few goods.”
Too simplistic.............he writes.
"They were warned"
Biden claim that supply chain is to blame for inflation is 'totally dishonest,' Obama-era official says
President Biden has repeatedly blamed tangled supply chains for the surging inflation that has seeped into every part of the U.S. economy – but a former Obama administration official on Thursday dismissed that as a "totally dishonest" argument.
www.foxbusiness.com
and for those that will say well thats just Fox News
Opinion | Biden Keeps Blaming the Supply Chain for Inflation. That’s Dishonest. (Published 2022)
Our supply problems are the product of an overstimulated economy, not the cause of it.
www.nytimes.com
Rattner also stated, “They can’t say they weren’t warned — notably by Larry Summers, a former Treasury secretary and my former boss in the Obama administration, and less notably by many others, including me. We worried that shoveling an unprecedented amount of spending into an economy already on the road to recovery would mean too much money chasing too few goods.”
