Obama Lackey Jason Furman (Fmr Obama appointed Chair of the Council of Economic Advisers) appeared on Fox News to talk about the economy. Furman claimed that despite the rapidly increasing inflation and supply shortages our economy is doing well. He claimed these are just “high-class problems…”
“Most of the economic problems we’re facing (inflation, supply chains, etc.) are high-class problems. We wouldn’t have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem,” Furman tweeted.
Most of the economic problems we're facing (inflation, supply chains, etc.) are high class problems. We wouldn't have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem.
— Jason Furman (@jasonfurman) October 14, 2021
But Furman was not done there he appeared Fox News with Bill Hemmer to explain his perspective.
Anchor Bill Hemmer began by asking Furman ‘what the hell were you thinking?’—referring to his ignorant tweet.
“Jason, you started a prairie fire yesterday,” Hemmer said. “To paraphrase Jay Leno, what the hell were you thinking?”
Furman, however, doubled down on his claim. He alleged rising inflation is a “good thing”:
“You need to keep two things in your head at once. One is, inflation is real. Inflation is creating a problem for families, and we should do something about it. Number two, the reason we have this inflation is actually a good reason: that the unemployment rate has come down, that families got money, and people are buying more things than ever before.
The problem isn’t that our ports stopped working, it’s that people are buying so much stuff, that so much is trying to come through our ports right now. We have record volumes, you know, that both has a good side, a bad side, you need to keep both those in your head.”
Furman went on to admit the U.S. economy “has an inflation problem, and we need to deal with that,” but softened the blow by claiming inflation is up because demand for goods is through the roof.
Hemmer reminded Furman that this so-called ‘high-class problem’ is being paid for by the working middle-class.
“Middle-class America is paying for that,” Hemmer said.
“Americans are traveling more than they were a year ago. That’s a good thing. Americans are spending more; they’re spending more in restaurants; they’re spending more on sporting goods; they’re spending more on nights out; they’re spending more on travel,” Furman responded. “That’s all a really good thing. That’s what’s most important.”
When asked whether he stands by his “high class problems” remark, Furman did not waiver.
“There’s a good side to what’s going on — people are spending more than they’ve ever spent before — and there’s a bad side to what’s going on,” he said. “When everyone spends more than they’ve ever spent before, that drives prices up.”
Watch The Clip Below.
All I know is that I am paying more for things and that there are shortages at stores that make it hard to get different items. Both of these directly affect me and I am by no means rich. So how exactly are inflation and supply shortages just high-class problems?