Economist Stephen Moore discusses concerns about the country’s economic recovery, arguing the weight of the Western world ‘rests on the shoulders’ of West Virginia Sen. Joe Manchin.
Economist Stephen Moore discusses the markets’ reaction to the Biden administration’s “lunatic” fiscal policies during an appearance on “Varney & Co.” Monday, saying he’s “a little more pessimistic” about the country’s economic recovery amid Democrats‘ big spending push.
STEPHEN MOORE: If you’d asked me a month ago, I would have said, look, I think for the rest of the year, the economy looks really strong and I’m going to stick with this. But I’m a little more pessimistic now. I think the markets are starting to see how lunatic these fiscal policies are that are coming out of the White House.
CONSUMER PRICES SURGE 5% ANNUALLY, MOST SINCE AUGUST 2008
I mean, the fate of the Western world rests on the shoulders of Joe Manchin, because if he sides with the Democrats and they push this stuff through without a single vote, which they could potentially do, that would be, I think, extremely reckless. And I think it would be very bad for the markets.
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Can the Democrats push this thing through both the tax increase and the $4 trillion spending bill without a single Republican vote? Because I guarantee you they don’t have any Republican votes on this. And even the bipartisan bill… l is in a lot of trouble right now.
WATCH THE FULL INTERVIEW BELOW:
Economist Stephen Moore discusses the Democrats spending plans impact on inflation, arguing the rising prices of consumer goods is a ‘big political problem’ for Biden.
