Business
‘Bad Case Scenario’: Former Obama Economist Slams Kamala Harris’ Plan For Nationwide ‘Price Controls’

From the Daily Caller News Foundation
Former President Barack Obama’s top economist joined the chorus of experts critiquing Vice President Kamala Harris’ proposed plan to lower costs for housing and groceries, according to The Washington Post Friday.
Jason Furman, former deputy director of the National Economic Council under Obama, expressed his concerns on Harris’ proposal to fine companies that practice “price gouging” on food and groceries, warning of the negative economic effects of the policy due to the apparent need to control prices to a degree, according to The Washington Post. Harris blamed corporate greed for the rise in prices in her speech on Friday, instead of massive government spending under the Biden administration which some economists argue has fueled inflation.
“The good case scenario is price gouging is a message, not a reality, and the bad case scenario is that this is a real proposal,” Furman told The Washington Post. “You’ll end up with bigger shortages, less supply and ultimately risk higher prices and worse outcomes for consumers if you try to enforce this in a real way, which I don’t know if they would or wouldn’t do.”
The Federal Reserve of San Francisco released research in May showing that corporate greed is not the main driver of inflation, saying that the price hikes seen following the COVID-19 pandemic were comparable to those seen following other economic recoveries that did not have not similar levels of inflation.
“This is economic lunacy. Price controls are a SERIOUSLY bad idea,” Samuel Gregg, Friedrich Hayek chair in economics and economic history at the American Institute for Economic Research, said on X. “They lead to shortages, severe misallocations of capital, and distort the ability to prices to signal the information we all need to make choices.”
The proposal from Harris would task the Federal Trade Commission (FTC) with handing out fines for companies that make “excessive” price hikes on groceries, the Harris campaign told The Washington Post. Price controls can initially lower prices for customers, but many economists argue that it would also “cause shortages which lead to arbitrary rationing and, over time, reduce product innovation and quality,” according to the Joint Economic Committee Republicans in 2022.
Prices have risen 19.4% since the Biden administration first took office, and grocery prices have risen 21%, according to the Federal Reserve of St. Louis (FRED).
“Harris has made a set of policy choices over the last several weeks that make it clear that the Democratic Party is committed to a pro-working-family agenda. The days of ‘What’s good for free enterprise is good for America’ are over,” Felicia Wong, president of the left-leaning think tank Roosevelt Forward, told The Washington Post.
Inflation peaked under the Biden administration at 9% in June 2022, with the rate only falling below 3% for the first time since in July. Under former President Donald Trump, prices increased just 7.8% from January 2017 to 2021, according to FRED.
Harris has also proposed the use of federal funds to forgive medical debt from healthcare providers, price caps on prescription drugs, a $25,000 subsidy for first-time home buyers and a $6,000 child tax credit for families for the first year of their child’s life, according to The Washington Post.
“The days of pivoting to the center to win on economics are over, even though there are good economic reasons to do so, especially on fiscal policy,” Bill Galston, a former Clinton aide, told The Washington Post.
Furman, the Harris campaign and Democrat economists Jay Shambaugh and Lawrence Summers did not immediately respond to the Daily Caller News Foundation’s request for comment. Democrat economist Sandra Black declined to comment.
Business
Trump makes impact on G7 before he makes his exit

Trump Rips Into Obama and Trudeau at G7 for a “Very Big Mistake” on Russia
At the G7 in Canada, President Trump didn’t just speak—he delivered a headline-making indictment.
Standing alongside Canada’s Prime Minister, he directly blasted Barack Obama and Justin Trudeau, accusing them of committing a “very big mistake” by booting Russia out of the G8. He warned that this move didn’t deter conflict—it unleashed it, and he insists it paved the way for the war in Ukraine.
Before the working sessions began, the two leaders fielded questions. The first topic: the ongoing trade negotiations between the U.S. and Canada. Trump didn’t hesitate to point out that the issue wasn’t personal—it was philosophical.
“It’s not so much holding up. I think we have different concepts,” Trump said. “I have a tariff concept, Mark [Carney] has a different concept, which is something that some people like.”
He made it clear that he prefers a more straightforward approach. “I’ve always been a tariff person. It’s simple, it’s easy, it’s precise and it just goes very quickly.”
Carney, he added, favors a more intricate framework—“also very good,” Trump said. The goal now, according to Trump, is to examine both strategies and find a path forward. “We’re going to look at both and we’re going to come out with something hopefully.”
When asked whether a deal could be finalized in a matter of days or weeks, Trump didn’t overpromise, but he left the door open. “It’s achievable but both parties have to agree.”
Then the conversation took an unexpected turn.
Standing next to Canada’s Prime Minister, whose predecessor helped lead that push, Trump argued that isolating Moscow may have backfired. “The G7 used to be the G8,” he said, pointing to the moment Russia was kicked out.
He didn’t hold back. “Barack Obama and a person named Trudeau didn’t want to have Russia in, and I would say that was a mistake because I think you wouldn’t have a war right now if you had Russia in.”
This wasn’t just a jab at past leaders. Trump was drawing a direct line from that decision to the war in Ukraine. According to him, expelling Russia took away any real chance at diplomacy before things spiraled.
“They threw Russia out, which I claimed was a very big mistake even though I wasn’t in politics then, I was loud about it.” For Trump, diplomacy doesn’t mean agreement—it means keeping adversaries close enough to negotiate.
“It was a mistake in that you spent so much time talking about Russia, but he’s no longer at the table. It makes life more complicated. You wouldn’t have had the war.”
Then he made it personal. Trump compared two timelines—one with him in office, and one without. “You wouldn’t have a war right now if Trump were president four years ago,” he said. “But it didn’t work out that way.”
Before reporters could even process Trump’s comments on Russia, he shifted gears again—this time turning to Iran.
Asked whether there had been any signs that Tehran wanted to step back from confrontation, Trump didn’t hesitate. “Yeah,” he said. “They’d like to talk.”
The admission was short but revealing. For the first time publicly, Trump confirmed that Iran had signaled interest in easing tensions. But he made it clear they may have waited too long.
“They should have done that before,” he said, referencing a missed 60-day negotiation window. “On the 61st day I said we don’t have a deal.”
Even so, he acknowledged that both sides remain under pressure. “They have to make a deal and it’s painful for both parties but I would say Iran is not winning this war.”
Then came the warning, delivered with unmistakable urgency. “They should talk and they should talk IMMEDIATELY before it’s too late.”
Eventually, the conversation turned back to domestic issues: specifically, immigration and crime.
He confirmed he’s directing ICE to focus its efforts on sanctuary cities, which he accused of protecting violent criminals for political purposes.
He pointed directly at major Democrat-led cities, saying the worst problems are concentrated in deep blue urban centers. “I look at New York, I look at Chicago. I mean you got a really bad governor in Chicago and a bad mayor, but the governor is probably the worst in the country, Pritzker.”
And he didn’t stop there. “I look at how that city has been overrun by criminals and New York and L.A., look at L.A. Those people weren’t from L.A. They weren’t from California most of those people. Many of those people.”
According to Trump, the crime surge isn’t just a local failure—it’s a direct consequence of what he called a border catastrophe under President Biden. “Biden allowed 21 million people to come into our country. Of that, vast numbers of those people were murderers, killers, people from gangs, people from jails. They emptied their jails into the U.S. Most of those people are in the cities.”
“All blue cities. All Democrat-run cities.”
He closed with a vow—one aimed squarely at the ballot box. Trump said he’ll do everything in his power to stop Democrats from using illegal immigration to influence elections.
“They think they’re going to use them to vote. It’s not going to happen.”
Just as the press corps seemed ready for more, Prime Minister Carney stepped in.
The momentum had clearly shifted toward Trump, and Carney recognized it. With a calm smile and hands slightly raised, he moved to wrap things up.
“If you don’t mind, I’m going to exercise my role, if you will, as the G7 Chair,” he said. “Since we have a few more minutes with the president and his team. And then we actually have to start the meeting to address these big issues, so…”
Trump didn’t object. He didn’t have to.
By then, the damage (or the impact) had already been done. He had steered the conversation, dropped one headline after another, and reshaped the narrative before the summit even began.
By the time Carney tried to regain control, it was already too late.
Wherever Trump goes, he doesn’t just attend the event—he becomes the event.
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Business
The CBC is a government-funded giant no one watches

This article supplied by Troy Media.
By Kris Sims
The CBC is draining taxpayer money while Canadians tune out. It’s time to stop funding a media giant that’s become a political pawn
The CBC is a taxpayer-funded failure, and it’s time to pull the plug. Yet during the election campaign, Prime Minister Mark Carney pledged to pump another $150 million into the broadcaster, even as the CBC was covering his campaign. That’s a blatant conflict of interest, and it underlines why government-funded journalism must end.
The CBC even reported on that announcement, running a headline calling itself “underfunded.” Think about that. Imagine being a CBC employee asking Carney questions at a campaign news conference, while knowing that if he wins, your employer gets a bigger cheque. Meanwhile, Conservative Leader Pierre Poilievre has pledged to defund the CBC. The broadcaster is literally covering a story that determines its future funding—and pretending there’s no conflict.
This kind of entanglement isn’t journalism. It’s political theatre. When reporters’ paycheques depend on who wins the election, public trust is shattered.
And the rot goes even deeper. In the Throne Speech, the Carney government vowed to “protect the institutions that bring these cultures and this identity to the world, like CBC/RadioCanada.” Before the election, a federal report recommended nearly doubling the CBC’s annual funding. Former heritage minister Pascale St-Onge said Canada should match the G7 average of $62 per person per year—a move that would balloon the CBC’s budget to $2.5 billion annually. That would nearly double the CBC’s current public funding, which already exceeds $1.2 billion per year.
To put that in perspective, $2.5 billion could cover the annual grocery bill for more than 150,000 Canadian families. But Ottawa wants to shovel more cash at an organization most Canadians don’t even watch.
St-Onge also proposed expanding the CBC’s mandate to “fight disinformation,” suggesting it should play a formal role in “helping the Canadian population understand fact-based information.” The federal government says this is about countering false or misleading information online—so-called “disinformation.” But the Carney platform took it further, pledging to “fully equip” the CBC to combat disinformation so Canadians “have a news source
they know they can trust.”
That raises troubling questions. Will the CBC become an official state fact-checker? Who decides what qualifies as “disinformation”? This isn’t about journalism anymore—it’s about control.
Meanwhile, accountability is nonexistent. Despite years of public backlash over lavish executive compensation, the CBC hasn’t cleaned up its act. Former CEO Catherine Tait earned nearly half a million dollars annually. Her successor, Marie Philippe Bouchard, will rake in up to $562,700. Bonuses were scrapped after criticism—but base salaries were quietly hiked instead. Canadians struggling with inflation and rising costs are footing the bill for bloated executive pay at a broadcaster few of them even watch.
The CBC’s flagship English-language prime-time news show draws just 1.8 per cent of available viewers. That means more than 98 per cent of TV-viewing Canadians are tuning out. The public isn’t buying what the CBC is selling—but they’re being forced to pay for it anyway.
Government-funded journalism is a conflict of interest by design. The CBC is expensive, unpopular, and unaccountable. It doesn’t need more money. It needs to stand on its own—or not at all.
Kris Sims is the Alberta Director for the Canadian Taxpayers Federation
Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.
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