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Biden Loses Another Top Staffer Just Days After His Chief of Staff Stepped Down

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Within a week of the announced departure of White House Chief of Staff Ron Klain, President Joe Biden said Thursday top economic adviser Brian Deese is on the way out too.

Biden credited Deese, director of the National Economic Council, with helping craft major pieces of legislation that have defined the 46th president’s time in office to date.

“Brian’s work was critical to the passage of the most significant economic agenda in generations: the American Rescue Plan, which brought our economy back from the brink; the Bipartisan Infrastructure Law [and] the most significant investment in our nation’s infrastructure in generations,” Biden in a statement.

The president also praised Deese for his involvement in “the CHIPs and Science Act, which ensures we make more high-end technology here at home so we can outcompete the world; and the Inflation Reduction Act, which is giving millions of families breathing room, investing in clean energy manufacturing, and addressing the climate crisis.”

The New York Times noted that economists have attributed the 40-year-high spike in inflation the U.S. experienced under Biden to the passage of the $1.9 trillion American Rescue Plan in March 2021.

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The legislation included enhanced unemployment benefits, direct deposit monthly child tax credit payments and food stamps, among other programs that some experts contended encouraged people not to return to the workforce, exacerbating labor shortages.

When Biden became president in January 2021, the economy was well on its way to recovery. The unemployment rate had dropped from a pandemic high of 14.7 percent in April 2020 to 6.3 percent. It’s 3.5 percent now.

In a February 2021 opinion piece for The Washington Post, former Clinton Treasury Secretary Larry Summers wrote that passing the American Rescue Plan would “set off inflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability.”

After it passed, Summers called it “the least responsible macroeconomic policy we’ve had in the last 40 years.”

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Further, former Obama administration Treasury Department official Steven Rattner, in a November 2021 article for the Times, identified the American Rescue Plan as the “original sin” leading to the high inflation rate, which spiked at over 9 percent in June and was 6.5 percent last month.

He and Summers, along with “many other” economists, “worried that shoveling an unprecedented amount of spending into an economy already on the road to recovery would mean too much money chasing too few goods,” Rattner explained.

Deese’s predecessor, Larry Kudlow — who served as Donald Trump’s director of the National Economic Council — argued in May that’s exactly what happened.

“The tax hikes and the environmental restrictions [under Biden] are suppressing the supply side of the economy — not enough goods. And the spending increases the demand side of the economy — too much cash,” Kudlow observed.

“If you are going to spend more than you can produce, well, prices have to go up. And the obvious solution is to spend less and produce more.”

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Deese said on Twitter that it had been “an unspeakable privilege to serve” the president.

The Times reported Biden is likely to replace Deese with Lael Brainard, vice chairwoman of the Federal Reserve, or Wally Adeyemo, the deputy Treasury secretary.

“Other contenders include Bharat Ramamurti, a deputy on the National Economic Council; Gene Sperling, a former director of the council under Presidents Bill Clinton and Barack Obama; and Sylvia M. Burwell, a former Obama aide who is now the president of American University,” it said.

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Randy DeSoto has written more than 3,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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