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GOVT FINANCIAL ADVISOR EXPLAINS WHY GOVT BORROWS MONEY

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First published at 10:32 UTC on May 4th, 2024.

#money
#biden
#federalreserve

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NEW: Biden economic advisor Jared Bernstein turns into bumbling mess after he's asked why the government borrows money if they can just keep printing it.

We are so screwed.

Question: They print the dollar. So why does the government even borr…

NEW: Biden economic advisor Jared Bernstein turns into bumbling mess after he's asked why the government borrows money if they can just keep printing it.

We are so screwed.

Question: They print the dollar. So why does the government even borrow?

Bernstein: Well, so the, I mean again, some of this stuff gets some of the language that the mmm, some of the language and concepts are just confusing.

... The government definitely prints money and then it lends that money by, by selling bonds. Is that what they do? They, they, they, yeah, they, they, they sell bonds.

... So, yeah, I, I, I guess I'm just, I don't, I can't really talk. I don't, I don't get it. I don't know what they're talking about.

Holy s***.
Jared Bernstein is literally the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policy!!!

LESS