435 Economists Agree: The Biden Administration’s Proposed Budget is Wrong for America

April 14, 2023

435 Economists Agree: The Biden Administration’s Proposed Budget is Wrong for America

WASHINGTON, D.C. – Today, the America First Policy Institute (AFPI) released the following statement from Brooke Rollins, President and CEO of the America First Policy Institute, regarding a letter signed by more than 400 economists calling the Biden Administration’s Proposed FY24 Budget wrong for America:

“The Biden Administration’s budget priorities are completely disconnected from the values of the American people. This proposed budget doubles down on the failed tax-and-spend policies that have led to 40-year high inflation, record high gas prices, near-zero economic growth, and plummeting retirement accounts. And in the midst of a fentanyl and immigration crisis, the Biden Administration’s budget proposes defunding border enforcement. This is an America Last approach to funding our government.”

This letter, signed by some of the country’s most distinguished economists, highlights the crushing effects excessive government spending, massive increases in regulation, and 40-year high inflation have had on American families.

The letter urges Members of Congress to reject President Biden’s irresponsible budget proposal and work together to reduce the federal government’s unsustainable and dangerous fiscal imbalances. 

More than 400 economists have signed this letter, including Nobel Laureates, members of the President’s Council of Economic Advisers, a Federal Reserve Bank President, and a former House Majority Leader.

Read the letter and see the full list of signatories in Real Clear Markets.

The bottom line: The Biden Administration’s FY 24 budget is wrong for America.