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Former Obama Economist Sounds The Alarm, ‘Crash’ Ahead

The state of the U.S. economy is in a precarious position. Former National Economic Council Director Larry Summers recently warned against the Federal Reserve’s attempt to control inflation with interest rate hikes, saying that the country could be headed for a “collision or crash down the road.”

It’s no surprise that the economy is in such a state. Biden’s insane spending has caused a surge in retail sales and jobs that has outpaced the population’s ability to fill them. This has led to an increase in prices, causing inflation. The Federal Reserve has tried to counter this with interest rate hikes, but it’s a delicate balancing act that could trigger a recession if not handled correctly.

To make matters worse, the January inflation rate was 6.4%, much higher than expected. Investors are worried that the Fed will continue to raise interest rates, slowing down the economy even further.

The source of the problem can be traced back to Biden’s $1.9 trillion stimulus package earlier this year. This package included a range of unrelated, questionable spending measures that did nothing to help the economy, such as funding for museums, theaters, and other cultural institutions.

The Democrats are also pushing for a $15 minimum wage, which would hurt small businesses and lead to job losses, particularly among low-skilled workers. They’ve also advocated for higher taxes and increased regulation, which would stifle innovation and entrepreneurship.

It’s time for a change. We need leaders who prioritize sound policy over political points. We need to encourage businesses, reduce government interference, and create a healthy and prosperous economy. Larry Summers’ warning must be taken seriously before it’s too late.

Joe Biden’s policies have been a disaster for the economy. His reckless spending and ineffective policies have caused prices to soar and inflation to skyrocket, yet he and his party are pushing for even more spending. The $15 minimum wage would hurt small businesses, while their plans for higher taxes and more regulation would stifle innovation.

It’s time to take action before it’s too late. We need to support businesses, encourage innovation, and reduce government interference in the economy. We need leaders who understand the importance of sound economic policy, not ones who prioritize political posturing and virtue signaling. Larry Summers’ warning must be heeded before it’s too late.


It’s time to take a step back and look at the bigger picture. We need to stop Biden’s reckless spending and ineffective policies and focus on creating a healthy and prosperous economy. It’s time to listen to Larry Summers and the other economists who have warned about the state of the economy and take the necessary steps to get it back on track.

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