Two of the top economists at the George Soros-funded Economic Policy Institute (EPI) claimed in an op-ed for CNN Business that U.S. families have become “better off” thanks to government stimulus money. They also wrote that America is experiencing a “strong recovery” — except they made zero mention of soaring gas prices and completely downplayed concerns over inflation.
Soros’s $1,265,000 investment in the EPI from 2017 to 2019 has seemingly paid off.
EPI senior economist Elise Gould and EPI President Heidi Shierholz wrote a puff piece March 3 absurdly headlined, “The economy is recovering fast. But we need to ensure it works for everyone.” They cited the economy adding 6.6 million jobs as evidence that the over $2 trillion in CARES Act stimulus funding supposedly helped get the economy back “on track.” They also called for “strong government action” and downplayed the 40-year spike in inflation as “mostly inevitable” and a result of “global supply chain problems.”
“It is radically underappreciated how much better off US families are as a result of policies that were put in place during the pandemic,” wrote Gould and Shierholz.
Inflation has made it harder for American families to eat and fill their vehicles with fuel. The U.S. Bureau of Labor Statistics reported in January that the price of “meats, poultry, fish and eggs” alone rose by 12.2 percent, “fruits and vegetables” by 5.6 percent, and gas prices skyrocketed by 40 percent, during the January 2021-January 2022 period.
Gould and Shierholz totally omitted the rising price of gas in their article and buried an explanation for inflation in the seventh paragraph, where they hedged that things would be worse without the so-called “strong jobs recovery.” And in what world does rising inflation mean that U.S. families have become “better off?”
Jason FurmanHarvard economist, and former Chairman of the Council of Economic Advisers under the Obama administration tweeted that jobs increased but “real wages [are] likely down more over the last 12 months than any pre-pandemic period since the data started in 2006.”
Real wage growth is being favored by the economy.
In the 12 most recent months, 6.7 million new jobs were created. This is higher than any prepandemic %age increase since 1980s.
Real wages are likely to have fallen more in the past 12 months than during any period prior to the pandemic that began in 2006.
— Jason Furman (@jasonfurman) March 4, 2022
Gould’s and Shierholz’s apparent enthusiasm on the economy is likely not shared by many American families. Gallup’s February poll found that Americans are less satisfied with their economy than they were in 2020 when Donald Trump became president.
American voters also have no hope of an economic revival. In January, a Pew Research Center poll from January revealed that only “27% of adults say they expect that economic conditions will be better a year from now than they are today.”
Conservatives under attack CNN Business: 404-827-1700 to ask for an end to articles written by Soros-connected economists that deceive Americans about the Biden Economy.
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