Biden adviser stumbles on simple money questions in latest cringeworthy moment | US | News

May 4, 2024
45 Views
4 Comments


Jared Bernstein, Chief Economist and Economic Policy Adviser to President Joe Biden, has found himself in an uncomfortable situation after struggling to articulate the fundamentals of how money works during an interview for an upcoming documentary titled ‘Finding The Money’.

The documentary, which aims to explore the intricacies of the economy, teased viewers with the elusive nature of understanding money, even for those closely involved in economic policymaking.

During one particularly awkward exchange, Bernstein appeared to stumble over the question of how money is created and circulated.

“We all use money, and yet the questions of what is money, and where does money come from remain elusive”, the film says in the preview.

Initially stating that the US government cannot go bankrupt because it can print its own money, Bernstein’s response soon veered into repetition and uncertainty.

“The US government can’t go bankrupt because we can print our own money”, Bernstein first said.

As the interviewer pressed for clarification on the government’s borrowing practices, Bernstein seemed to struggle with coherence.

“Well, some of the language is just confusing. The government definitely prints its own money. The government definitely prints money and lends that money. The government definitely prints money,” Bernstein kept repeating.

“It then lends that money by selling bonds. Is that what that they do?”, Bernstein then asked himself.

“They sell bonds and then people buy the bonds and lends the money. Yeah,” he finally stated, seemingly to reassure himself of his own answer.

Despite his role as Chief Economist and Economic Policy Adviser, Bernstein’s difficulty in articulating basic economic concepts raised eyebrows. He ultimately admitted his frustration, stating: “I don’t get it. I don’t know what they’re talking about.”

The incident comes at a time when economic issues are at the forefront of public discourse, with concerns about inflation, job growth, and high prices dominating discussions.

Despite positive indicators in the job market, lingering inflation and its impact on interest rates continue to pose challenges for many Americans, particularly prospective homebuyers.



Spread the love

You may be interested

Firefighters grapple with risks from foam laced with toxic “forever chemicals”
Health
shares9 views
Health
shares9 views

Firefighters grapple with risks from foam laced with toxic “forever chemicals”

Rajendran Achuthan - May 22, 2024

[ad_1] Inside Fire Station 22 in Bellbrook, Ohio, Lt. Jay Leach helped remove buckets of firefighting foam known as aqueous…

House committee calls on DOJ, FBI to investigate doping by Chinese swimmers
World
shares6 views
World
shares6 views

House committee calls on DOJ, FBI to investigate doping by Chinese swimmers

Rajendran Achuthan - May 22, 2024

[ad_1] The House select committee on China has asked the Justice Department and the FBI to open a formal investigation…

Dide: Masked rapper who claims to be a Premier League footballer announces first live gig | Ents & Arts News
Entertainment
shares9 views
Entertainment
shares9 views

Dide: Masked rapper who claims to be a Premier League footballer announces first live gig | Ents & Arts News

Rajendran Achuthan - May 22, 2024

[ad_1] Dide, the anonymous masked rapper who claims to be a Premier League footballer, has announced his first live gig.The…

4 Responses

  1. I do not even know how I ended up here but I thought this post was great I do not know who you are but certainly youre going to a famous blogger if you are not already Cheers

    Reply
  2. “Thank you for addressing such an important topic with clarity and authority. The information shared here is timely and relevant, and I appreciate the effort put into providing actionable advice. Looking forward to reading more from this blog!”

    Reply
  3. “I stumbled upon this blog while researching [topic], and I’m glad I did. The quality of the content speaks volumes about the credibility of the author. I’m impressed by the level of detail and the balanced perspective presented here. Kudos to the team for creating such valuable resources!”

    Reply

Leave a Comment

Your email address will not be published.