CNN’s Ryan Lizza: Let’s Be Honest, Build Back Better ‘Was Not Designed to Fight Inflation’

SCIUTTO discuss the big ░░░░░░░░ picture Senior Editor for ░░░░░░░░ Atlantic and CNN Senior ░░░░░░░░ Analyst Ron Brownstein also ░░░░░░░░ Washington Correspondent for POLITICO ░░░░░░░░ CNN Senior Political Analyst ░░░░░░░░ Lizza Gentlemen good to ░░░░░░░░ you both BROWNSTEIN Good ░░░░░░░░ SCIUTTO Ron if I ░░░░░░░░ begin on the inflation ░░░░░░░░ first because you know ░░░░░░░░ BROWNSTEIN Yes SCIUTTO of ░░░░░░░░ always exaggerating the president ░░░░░░░░ ability to to really ░░░░░░░░ the dial on inflation ░░░░░░░░ inputs here are pandemic ░░░░░░░░ comeback supply chain issues ░░░░░░░░ you can make an ░░░░░░░░ all the Covid stimulus ░░░░░░░░ also juiced these figures ░░░░░░░░ on the flip side ░░░░░░░░ a president can do ░░░░░░░░ hem it in right ░░░░░░░░ can a president actually ░░░░░░░░ How does he manage ░░░░░░░░ expectations so he s ░░░░░░░░ blamed for this next ░░░░░░░░ BROWNSTEIN Well he s ░░░░░░░░ for this next fall ░░░░░░░░ matter what he does ░░░░░░░░ think I mean the ░░░░░░░░ is the president owns ░░░░░░░░ current conditions in the ░░░░░░░░ You know in the ░░░░░░░░ 70s and early 80s ░░░░░░░░ inflation got much more ░░░░░░░░ of control than what ░░░░░░░░ re seeing now ultimately ░░░░░░░░ Volcker Fed Chair under ░░░░░░░░ Reagan you know ended ░░░░░░░░ essentially by engineering recession ░░░░░░░░ driving interest rates up ░░░░░░░░ certainly the Fed will ░░░░░░░░ the critical player in ░░░░░░░░ if the point has ░░░░░░░░ in terms of prices ░░░░░░░░ they ve concluded not ░░░░░░░░ that they need to ░░░░░░░░ interest rates This goes ░░░░░░░░ the larger challenge you ░░░░░░░░ and I ve written ░░░░░░░░ before I think the ░░░░░░░░ face next fall which ░░░░░░░░ that you know people ░░░░░░░░ the presidential election is ░░░░░░░░ the future midterm elections ░░░░░░░░ about the present They ░░░░░░░░ about the current conditions ░░░░░░░░ they tend to be ░░░░░░░░ by how people feel ░░░░░░░░ are going at that ░░░░░░░░ rather than legislative achievement ░░░░░░░░ obviously Biden needs better ░░░░░░░░ of inflation Covid crime ░░░░░░░░ border are all under ░░░░░░░░ control than they seem ░░░░░░░░ be today HILL If ░░░░░░░░ re talking about the ░░░░░░░░ we know that Biden ░░░░░░░░ his advisers have long ░░░░░░░░ that they need to ░░░░░░░░ back blue collar voters ░░░░░░░░ they re arguing too ░░░░░░░░ these efforts by the ░░░░░░░░ one could soon be ░░░░░░░░ into law or wait ░░░░░░░░ everybody to come back ░░░░░░░░ the party Realistically Ryan ░░░░░░░░ we look at that ░░░░░░░░ much will this infrastructure ░░░░░░░░ actually deliver when we ░░░░░░░░ talking about jobs and ░░░░░░░░ blue collar jobs in ░░░░░░░░ country LIZZA Well there ░░░░░░░░ few analyses out there ░░░░░░░░ definitely point to the ░░░░░░░░ that this will the ░░░░░░░░ will create millions of ░░░░░░░░ pumping a huge amount ░░░░░░░░ money into the economy ░░░░░░░░ of dollars for roads ░░░░░░░░ bridges and electric charging ░░░░░░░░ All that government money ░░░░░░░░ obviously going to create ░░░░░░░░ jobs Just to add ░░░░░░░░ thing to Ron s ░░░░░░░░ on inflation it s ░░░░░░░░ fair to point out ░░░░░░░░ the White House is ░░░░░░░░ catchup on this issue ░░░░░░░░ this year there were ░░░░░░░░ very prominent Democratic economists ░░░░░░░░ said watch out the ░░░░░░░░ on inflation are serious ░░░░░░░░ Summers most famously and ░░░░░░░░ said you know what ░░░░░░░░ President you should take ░░░░░░░░ of that immediate stimulus ░░░░░░░░ the Covid bill that ░░░░░░░░ juicing the economy and ░░░░░░░░ inflation and put it ░░░░░░░░ the long term Build ░░░░░░░░ Better agenda that has ░░░░░░░░ inflationary pressures The White ░░░░░░░░ was extremely dismissive of ░░░░░░░░ point of view and ░░░░░░░░ for the biggest possible ░░░░░░░░ in the in the ░░░░░░░░ bill And they ve ░░░░░░░░ of were dismissive for ░░░░░░░░ frankly about the risks ░░░░░░░░ of inflation and only ░░░░░░░░ the polls started showing ░░░░░░░░ it was a major ░░░░░░░░ problem for the White ░░░░░░░░ and then in Virginia ░░░░░░░░ New Jersey a lot ░░░░░░░░ exit polls showed that ░░░░░░░░ was top concern on ░░░░░░░░ s minds they sort ░░░░░░░░ got religion And the ░░░░░░░░ this BBB package as ░░░░░░░░ inflation fighter which let ░░░░░░░░ be honest it was ░░░░░░░░ designed to fight SCIUTTO ░░░░░░░░ LIZZA inflation I mean ░░░░░░░░ can point to parts ░░░░░░░░ it that arguably will ░░░░░░░░ an impact but this ░░░░░░░░ a they re playing ░░░░░░░░ right now on this ░░░░░░░░