World News

Stephen Moore: Biden’s Policies Could incapacitated economic recovery

On June 27, Trump administration economist Stephen Moore said that President Joe Biden’s policies, if implemented, could derail the US’s strong economic recovery after the pandemic.

COVID-19 pandemic.Economist Stephen Moore (Image: Getty Images)

Speaking on WABC 770AM’s “The Cats Roundtable” radio program, Mr. Moore said the United States risks “increasing the national debt by about $22 trillion over the next decade” if Biden does all the work. its agenda.

Such policies, according to Mr. Moore, would lead to huge consequences, because currently “the United States is ahead of the rest of the world in terms of catching up and recovering from the COVID pandemic,” noting that it is is a positive sign of strong economic development in the remaining half of the year. But notably, the Biden administration is “making all sorts of mistakes with policies that are slowing this recovery.”

The issue of higher inflation is one of the danger signs, he said, and that “the Fed is being too optimistic about controlling inflation.”

Mr. Moore also pointed to the Infrastructure bill as another worrisome sign, saying “it’s a terrible deal”.

He said that only about 20% of the spending in the bill is actually related to traditional infrastructure, such as roads and airports; while much of the deal is actually for Biden’s so-called Green New Deal and electric cars.

With Republican senators endorsing the bill, Mr. Moore expressed “surprise that Republicans think they can make an honest deal with Biden, because he’s not an environmentalist.” honest world.”

“And I’m worried about the big tax hike that Biden wants to pass in the fall,” he concluded. If the Republicans come together in unison, I think you’ll have more and more Democrats recognize and say, ‘Wait a minute. This is not what my voters want.’ I’ve heard there are probably eight to ten Democrats in the Senate right now very worried about Joe Biden trying to move the country in the favour. left direction.”

In April, Republican Representative Kevin Brady (Texas) also commented to SiriusXM Breirbart host Alex Marlow that, “America’s Jobs Plan” that Joe Biden is proposing will make America. bottomed out in the “race for jobs and growth”.

He argued that the ‘America Jobs Plan’ would hurt America’s international competitiveness – making it a less attractive environment for companies – through the corporate tax hike itself. . “This [Bill] makes America one of the least competitive countries in the world, and really a race to the ground in terms of jobs and growth.”

Representative Brady added: “What he [Joe Biden] is suggesting is to make the US tax rate worse, make it worse than China’s, on par with Syria and France… we will die at the hands of our growing competitors… I predict we will see a second wave of American jobs and companies moving abroad.”

According to Congressman Brady, the Biden administration is essentially promoting a “socialist agenda” under the guise of infrastructure development. “Just as the COVID-19 stimulus bill has very little to do with the epidemic, this infrastructure bill has little to do with bridges, ports, and airways, the things that most people don’t know about. The US is strongly supportive. This bill is essentially the same as the socialist agenda, just under a different banner.”

Related posts

The House of Representatives voted to pass a resolution requiring Vice President Pence to invoke Amendment 25


China, Russia renew friendship treaty after Biden-Putin summit


Texas governor signs law banning abortion after detecting fetal heart


Leave a Comment