In his announcement Friday, before leaving for Rome, that "we have a historic economic framework," President Biden went on to say:

Seventeen Nobel Prize winners in economics have said it will lower the inflationary pressures on the economy.

And over the next 10 years, it will not add to the deficit at all; it will actually reduce the deficit, according to the economists.

YouTube screen grab.

Since we know that this "framework" was the result of negotiations between the White House and congressional Democrats behind closed doors extending right up to that very morning, I wondered how they managed to get seventeen Nobel Prize–winning economists to review, analyze, and opine on it almost instantaneously.

As it turns out, the Nobel laureates' letter was signed not later than September 20, 2021, when the elements of the bill were drastically different from what they are today.  The outdated letter did state that the Biden agenda "will ease longer-term inflationary pressures."  But there was not a word in it that justified Biden's claim that they said it would reduce the deficit.

In his announcement Friday, before leaving for Rome, that "we have a historic economic framework," President Biden went on to say:

Seventeen Nobel Prize winners in economics have said it will lower the inflationary pressures on the economy.

And over the next 10 years, it will not add to the deficit at all; it will actually reduce the deficit, according to the economists.

YouTube screen grab.

Since we know that this "framework" was the result of negotiations between the White House and congressional Democrats behind closed doors extending right up to that very morning, I wondered how they managed to get seventeen Nobel Prize–winning economists to review, analyze, and opine on it almost instantaneously.

As it turns out, the Nobel laureates' letter was signed not later than September 20, 2021, when the elements of the bill were drastically different from what they are today.  The outdated letter did state that the Biden agenda "will ease longer-term inflationary pressures."  But there was not a word in it that justified Biden's claim that they said it would reduce the deficit.

As a college economics major back in the day, I am somewhat embarrassed that these luminaries in the field have allowed Biden to use them for political purposes.  I am reminded of the group of 27 prominent public health scientists rounded up by Peter Daszak (whose EcoHealth Alliance was the recipient of Dr. Fauci's NIH grants to study bat coronaviruses in Wuhan), who published a letter in The Lancet condemning suggestions that COVID-19 does not have a natural origin as conspiracy theories.

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