President Joe Biden is preparing to deliver his State of the Union address and promote his Build Back Better agenda. The America First Policy Institute released the letter below signed by 373 economists from universities, think tanks, and businesses across the country to convey an unequivocal message to the American people: President Biden’s Build Back Better agenda is wrong for America. The list includes a Nobel laureate, a former Chairman of the Council of Economic Advisers, former Federal Reserve Bank presidents, a former Director of the Ofﬁce of Management and Budget, along with professors from universities including Harvard, Princeton, Stanford, the University of Chicago, and many more.
This statement, printed below in its entirety, disavows the notion that Build Back Better would, as claimed by a handful of economists, “alleviate some of the strain caused by inﬂation.” It would worsen inﬂation and harm the very people President Biden claims to want to help.
JOINT ECONOMISTS’ STATEMENT DENOUNCING THE BUILD BACK BETTER AGENDA:
The White House recently touted a letter signed by 56 economists who favor the policies in the President’s Build Back Better agenda. They claim that this latest multi-trillion dollar government spending increase would “alleviate some of the strain caused by inﬂation.” We fundamentally disagree. In fact, the policies in the Build Back Better agenda would increase inﬂation, increase the federal debt, reduce the number of people working, badly misallocate capital, and hobble economic growth.