“I mean, make no mistake, what the government has done will sow the seeds for I think a very, very sharp recovery,” Zandi told CNN in September of 2008. The Obama recovery would end up being the
slowest in American history. As late as 2014, Zandi was still
claiming Obamacare was slowing health care costs, even though individual health care premiums would
double.
In a scientific-sounding and polite 2016 paper, “The Macroeconomic Consequences of Mr. Trump’s Economic Policies,” Zandi
predicted that the “most-likely scenario” of a Trump presidency was a “lengthy recession,” unemployment, and “a near standstill” in economic growth. When proven wrong on all fronts, Zandi would
claim that the economy, fed by “deficit-financed tax cuts” and “deficit-financed government spending increases,” was “sticking to script.” Had Trump not promised to cut taxes during his 2015 campaign? Didn’t everyone know that the federal budget would grow from 2016 to 2018? Zandi had the “script,” and he was still way off.
Zandi was also wrong about our recent inflation. It is “irksome,” he now
maintains, trying to find cover in a crowd, “how wrong the Fed, the Biden administration, and economists, including me, were in thinking that the high inflation would quickly recede. It hasn’t.” And yet, there is always a high degree of certitude in his pronouncements. Zandi felt quite comfortable
telling DNC mouthpiece Greg Sargent — who also claimed that “warnings of inflation are not good-faith macroeconomic arguments” — that worries about spiking prices were “likely misplaced” and “overdone.”
Though, like most disciplines, economics has been corroded by partisanship, still, it’s invaluable in helping us understand the production, consumption, and distribution of goods and services.
Finding a gaggle of Democrats — economists, or not — to tell us we should 'invest' more money into progressive agenda items isn’t difficult.
thefederalist.com