A group of 16 Nobel Prize-winning economists authored an open letter warning that if Donald Trump won a second presidential term, his economic agenda would not just be “vastly” inferior to that of President Joe Biden’s but that Trump would also “reignite” the inflation “which has come down remarkably fast.” Of course, a criticism of Trump’s heterodox economic proposals would mean a little more from a team of economists that did not previously lie that Biden’s empirically abysmal policies would bring down inflation instead of supercharging price instability to its worst crisis in 40 years.

You see, 14 of the 16 economists from the 2024 letter wrote another letter in September 2021 cheering on Biden’s “Build Back Better” agenda, which would later become the Bipartisan Infrastructure Law. Spearheaded by Joseph Stiglitz of Columbia, George Akerlof of Georgetown, Sir Angus Deaton of Princeton, Sir Oliver Hart of Harvard, Eric Maskin of Harvard, Daniel McFadden of Berkley, Paul Milgrom of Stanford, Roger Myerson of the University of Chicago, Edmund Phelps of Columbia, Paul Romer of NYU, William Sharpe of Stanford, Robert Shiller of Yale, Christopher Sims of Princeton, and Robert Solow of the Massachusetts Institute of Technology claimed that the BIL, which infused about half a trillion dollars of new spending into the economy, would “ease longer-term inflationary pressures” despite inflation already running at 5%. Again, this September 2021 letter would be less embarrassing if Stiglitz hadn’t already endorsed the preliminary portion of the BBB agenda, the American Rescue Plan.