It’s a very common term to people with a basic understanding of economics.
It’s a word used to describe slow economic growth paired with high inflation and high unemployment.
Apparently, the brainiacs over at CNN were asleep in high school the day that term was covered.
Check out what a CNN correspondent recently had to say about stagflation.
From The Daily Caller:
She seemed to try and mock the White House for making up a new word during Monday’s press briefing, writing, “The Trump administration has 133 nominees waiting for a vote and we learned a new word in the briefing, ‘stagflation’!”
Wait, is she really admitting she doesn’t know what that word means?
It’s quite plausible, and defensible, that Ryan had never really heard the term before Monday. She graduated from college in 1989 and is 49 years old. The term “stagflation” would have fallen into general disuse by the time she reached her senior year in high school, after the economic boom during the Reagan years left the brutal stagflation driven by Jimmy Carter-era policies in the rear-view mirror.
But that’s where the defense of Ryan begins and ends. If you hear a responsible official use a word you haven’t heard before, you don’t assume that he made it up, or even that he misspoke. You look it up first to see if it really is a word. Ryan failed to do this. Her ingrained bias against the Trump administration and its supposedly ignorant representatives could hardly be more obvious.
It’s particularly annoying to see this kind of arrogance coming from someone who really believed in mid-March that the portion of Trump’s illegally released 2005 tax return showing him making $100 million that year showed “he was not a billionaire”:
I don’t know about you but I’m not convinced she knows what the word means.
However, she did try to backtrack from her original tweet.
From The Daily Caller:
Twitter users blasted Ryan for apparently never hearing of “stagflation,” and she tried to walk back her tweet nearly an hour later. Ryan claimed she was pointing out a mistake by White House spokesman Marc Short as opposed to her own ignorance.
So either she doesn’t know what stagnation means or stagflation.
Both situations aren’t ideal.
Chalk this one up as another embarrassing moment for CNN.