Former Obama adviser Valerie Jarrett on Monday said the nation’s bailouts were a big “mistake.”
In an interview with NPR’s “Morning Edition,” Jarrett said the bailouts in 2009 and 2010 were a “huge mistake” that left millions of people out of work and that it was wrong to take away their homes.
She said the administration’s economic policies in the wake of the financial crisis have made life worse for the American people.
“They took $600 billion in taxpayer money and bailed out a big part of the American economy,” Jarrett told NPR.
“They’ve done the exact opposite of what we should have done.”
She added: “I think we’re just getting back to what was intended.”
Jarrett, who is a leading voice for the left in the Obama administration, was the most senior adviser to the president at the time of the bailout program.
She said she was “a bit surprised” that the bailout program wasn’t more popular among Democrats.
“We’re in a pretty interesting time right now,” she said.
“The left wing of the party are looking for a big economic turnaround.
And I think that’s where it’s going.
And that’s what this administration has done.”
Jabron said the American public is frustrated with the economy.
“The president’s got a pretty strong record of doing things that have helped the American working class, the middle class, and the working poor,” she explained.
“And there’s not a lot of evidence that he’s doing those things with the right wing of his party.”
Jabsons views on the bailout were not shared by other Democrats, but she was critical of the president’s approach to the crisis.
“I’m a big fan of the Obama stimulus program,” she told NPR, noting that it did a lot to help the economy and created thousands of jobs.
“But you know what?
If we hadn’t done it, we’d have a much worse economy, and people would be more worried about getting caught up in this,” she added.
Jarrett also said she supported the administration taking steps to address climate change, but said that her views are more aligned with those of many economists.
“If you look at the number of people who’ve been affected by the Great Recession, the number is so great that I don’t think it’s a great idea to take any action to try to mitigate the impacts of climate change,” she argued.
Jabrod said she does not support President Trump’s proposal to repeal Obamacare.
The administration has said it is still reviewing the legislation.
The president has said he will sign it but will need congressional approval.