Former Trump economist Stephen Moore says passing President Joe Biden’s $2 trillion debt bill would be the “dumbest thing” as the inflation rate continues to climb.
“If you look at what’s happening with basic raw materials and problems in the supply chain, you just see prices across the board rising,” said Moore, who appeared on Newsmax’s “The Count” with Peter Morici Saturday.
“The Fed continues to say that the price increases are temporary, and they think they have it under control,” said Moore. “I’m not so sure…my worry is that once you start getting some acceleration and inflation, it’s really hard to stop.”
Meanwhile, Democrats in Congress are pushing Biden to approve a fourth stimulus check, but Morici, taking a jab at Rep. Alexandria Ocasio-Cortez, D-N.Y., commented that the White House “shouldn’t take the advice of former bartenders with regard to fiscal policy.”
“We have adequate stimulus in the system,” said Morici. “Folks have lots of money in their checking accounts because they haven’t spent what we’ve already sent them and their credit card balances are very, very low.”d they still won’t return to where they were a year ago.
“The bottom line is, do we start to see people get