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Vance Ginn, the former Associate Director for Economic Policy for the Office of Management and Budget (OMB) during the Trump administration spoke on Friday at Young Americans for Liberty (YAL)'s Revolution 2022 conference in Orlando, Florida.
Slamming Senate Democrats' recent proposed "Inflation Reduction Act", Ginn outlined the events leading up to the inflationary recession and economic retraction the American economy is now facing.
Attacking the Biden administration, leading economists and talking heads' narrative of "transitory inflation," Ginn explained these claims are deflections from broken economic policy, i.e. extravagant spending and the expansion of the money supply to fund such spending.
Emphasizing the current $30.6 trillion in national debt, Ginn asserted "the economy in many places is more socialist than capitalist" and advocated for the importance of maintaining an "institutional framework in which to view the world."
A prerequisite for sound economics and monetary system, such an "institutional framework" is an essential tool for young people to begin to reverse the serious economic problems facing the nation today.
The director of the Texas Public Policy Foundation (TPPF)'s Center for Economic Prosperity, Ginn proposed some practical actions that could be taken in the short term to combat the worsening inflationary recession.
Ginn called for placing a cap on federal spending in addition to a limit on the Federal Reserve's ability to expand the monetary supply.
“Ginn sees himself as proof that the Texas miracle works. Home-schooled by a single mother what he describes as a “relatively poor” Houston neighborhood, he was a first-generation college graduate who then earned a Ph.D. in economics from Texas Tech University," the Texas Observer wrote.
The TPPF sent at least six people to the Trump Administration. As found on the TPPF website, "the Foundation’s mission is to promote and defend liberty, personal responsibility, and free enterprise in Texas and the nation by educating and affecting policymakers and the Texas public policy debate with academically sound research and outreach."
Check out Vance Ginn's Substack titled "Let The People Prosper"