While President Biden wants Americans to feel proud of his economic plan, Fox News contributor and The King’s College economics professor Brian Brenberg warned the “political policy mistake” will reach every corner of the country.
“Wherever you are in America, this is going to hit you,” Brenberg said on “Fox & Friends First” Wednesday. “You can’t escape this inflation.”
Brenberg’s comments come after Biden touted on Twitter that his administration’s economic policy “has worked – and it’s still working,” citing job creation and improving unemployment. But, Brenberg pointed to the highest U.S. inflation levels in 40 years.
The Labor Department released a report earlier this month showing that consumer inflation, propelled by surging costs for gas, food and housing, jumped nearly 8% over the year – the sharpest spike since 1982.
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“This is not working,” Brenberg countered towards Biden. “It’s not working for small businesses, not working for blue-collar workers, definitely not working for families. I don’t know why the president keeps saying this stuff.”
According to the business and economics expert, President Biden gives the impression he wants Americans to learn to live with inflation.
“We don’t have to cope with this,” Brenberg said. “This is a political policy mistake that the administration has made, and there’s no way we should start adjusting to that and giving in to the problem.”
First and foremost, Biden should “get it together” on gas prices and prioritize energy independence, Brenberg noted.
“If we keep nickel and diming the middle class, will there be a middle class left?” he asked.
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Even though energy and consumer prices continue to rise, Brenberg cautioned the bigger risk is a looming stagnation situation.
“That’s where it really hurts,” he explained. “When there’s no growth, when businesses aren’t hiring as much, when wages aren’t going up as much. That’s the problem that we’re going to have in this country very soon.”
FOX Business’ Bradford Betz contributed to this report.