According to Axios, “some Democrats” want to make austerity great again:
Some Democrats and economists have begun to worry that President Biden, intent on FDR-like transformation of a wounded America, is doing too much, too fast.
Why it matters: Some economists fear that all this spending will crank up inflation, and put Biden’s economic legacy at risk.You see this in complaints by employers— along with some early data, and loads of anecdotal evidence —that people aren’t taking jobs because of the boost to unemployment payments.
You see this in the news that budget deficits in states weren’t nearly as bad as expected. “Let the good times roll!” says an L.A. Times headline this weekend. “Gusher of stimulus funds a gift for governors like Gavin Newsom.”
Yet Biden still wants to spend more.
Here is an exhaustive list of the “Democrats” cited in the article:
1. Larry Summers
2. That is all
Of course, “economist pissed off because he was not included in an administration despite his belief that he was entitled to such a position criticizes administration policy” would be a rather less effective way of projecting your own deficit hawk views onto other people, so here we are.