A viral clip of an interview with President Joe Biden's economic adviser Jared Bernstein shows the official struggling to explain why the U.S. government chooses to borrow money when it can just print more.
"The government definitely prints money, and it definitely lends that money by selling bonds. Is that what they do? They sell bonds, yeah, they sell bonds. Right? Since they sell bonds, and people buy the bonds and lend them the money," Bernstein, chair of the Council of Economic Advisers, said when asked why the federal government borrows currency it can print.
"I guess I'm just, I can't really, I don't get it. I don't know what they're talking about," the economic adviser to Biden added.
Bernstein has a bachelor's degree in fine arts from the Manhattan School of Music, a master's degree in social work from the Hunter School of Social Work, and a master's degree in philosophy and Ph.D. in social welfare from Columbia University.
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