Stephen Moore, Chairman of FreedomWorks‘ Task Force on Economic Revival, Chief Economist of The Heritage Foundation, and Former Trump Administration Economic Advisor took to the media in early June to issue a grave warning and dire predictions about the toll of the Biden-Harris regime’s insane leftist agenda on the American Economy.
Moore’s Grave Warning: Biden’s Handouts Feeding Inflation
Moore appeared on Wall To Wall with Greta Wall on One America News and described that most of America’s ills and the anemic May jobs report are directly tied to people not returning to work due to the handouts being given by the Biden White House.
“I really believe right now Greta, the biggest threat to this recovery is Biden’s tax, spend, regulate and borrow agenda. It is exactly the wrong thing. We need less government and not more.”
“Connecticut, Rhode Island, New York, New Jersey are continuing with those benefits, and that means it’s going to be a real burden on small businesses in states like that because it’s hard to compete with your rich Uncle Sam when you’re trying to get your workers back on the job,” said Moore.
According to Wall, the Federal Reserve has stated “These rising pressures that we’re currently seeing are temporary”, she asked Moore ” How can the Fed say that it’s temporary if we’re already seeing the impact in prices?”
“I think some of these people on the Fed, including Jerome Powell need to get to the grocery store and go to the gas pump and see what American consumers are feeling which is a real pinch. You know, they have this designation called “core inflation” which is taking out food and energy and I never could understand that concept Greta, because food and energy are the main things we spend our money on! Right? Every day we spend our money on energy and food. Those have been the fastest rising in price!
Although, you’re seeing big increases in lumber prices. I tried to buy an airline ticket the other day, I couldn’t believe how expensive they were. You know, you’re seeing increased demand for these services and yet you’re not seeing the increase in the supply and that leads to inflation.”
In short: a lack of manpower is driving a supply shortage of goods and services, the Biden-Harris regime is flooding the economy with free money, and fear of COVID so fewer people want to return to work. Free money means more people have more to spend, less supply, and fewer services. What does that spell? Runaway inflation, Weimar Germany, Civil Unrest and finally: a Socialist State. A grave warning indeed.
— One America News (@OANN) June 4, 2021