Steve Moore: ‘Hopefully We Can Put [Bidenomics] in the Grave and Pour Salt on the Soil so the Idea Never Comes Back’

KUDLOW Well Steve Moore ░░░░░░░░ s just go into ░░░░░░░░ because people may not ░░░░░░░░ the term modern monetary ░░░░░░░░ OK But what you ░░░░░░░░ talking about is basically ░░░░░░░░ or limitless spending MOORE ░░░░░░░░ s right KUDLOW borrowing ░░░░░░░░ the other key is ░░░░░░░░ modern monetary theory people ░░░░░░░░ do populate the Biden ░░░░░░░░ unlimited money printing right ░░░░░░░░ argue that because the ░░░░░░░░ is the world s ░░░░░░░░ currency quote unquote at ░░░░░░░░ for the moment we ░░░░░░░░ we could the government ░░░░░░░░ or the Federal Reserve ░░░░░░░░ buy all the bonds ░░░░░░░░ are sold could print ░░░░░░░░ the money necessary and ░░░░░░░░ s really the clincher ░░░░░░░░ modern monetary theory They ░░░░░░░░ not worried about inflation ░░░░░░░░ re not worried about ░░░░░░░░ as Arthur said they ░░░░░░░░ not worried about sluggish ░░░░░░░░ Now have they been ░░░░░░░░ right or wrong so ░░░░░░░░ MOORE Well it s ░░░░░░░░ for people to realize ░░░░░░░░ this came from Remember ░░░░░░░░ and Arthur when Obama ░░░░░░░░ president he remember his ░░░░░░░░ billion so called stimulus ░░░░░░░░ with the shovel ready ░░░░░░░░ and it did not ░░░░░░░░ the economy The economy ░░░░░░░░ terrible over the next ░░░░░░░░ years They never came ░░░░░░░░ close to the three ░░░░░░░░ four percent target And ░░░░░░░░ the what was the ░░░░░░░░ The reaction should have ░░░░░░░░ well all this spending ░░░░░░░░ debt doesn t really ░░░░░░░░ And what they what ░░░░░░░░ came up with was ░░░░░░░░ idea oh no ask ░░░░░░░░ Krugman he said they ░░░░░░░░ t spend and borrow ░░░░░░░░ money KUDLOW Right MOORE ░░░░░░░░ know if they just ░░░░░░░░ 4 5 trillion more ░░░░░░░░ would have worked So ░░░░░░░░ comes in and buys ░░░░░░░░ crackpot theory which was ░░░░░░░░ convenient for him because ░░░░░░░░ wanted to spend money ░░░░░░░░ And now we ve ░░░░░░░░ this right And now ░░░░░░░░ ve had this experiment ░░░░░░░░ Bidenomics and it is ░░░░░░░░ monetary theory And the ░░░░░░░░ of our piece that ░░░░░░░░ and I wrote is ░░░░░░░░ have been the victims ░░░░░░░░ this Well the middle ░░░░░░░░ Larry because the prices ░░░░░░░░ gone up by 20 ░░░░░░░░ incomes are only up ░░░░░░░░ or 17 percent So ░░░░░░░░ average American is poor ░░░░░░░░ a result of this ░░░░░░░░ this idea does not ░░░░░░░░ Hopefully we can we ░░░░░░░░ put it in the ░░░░░░░░ and pour salt on ░░░░░░░░ soil so the idea ░░░░░░░░ comes back One other ░░░░░░░░ thing Larry if I ░░░░░░░░ You talked about Reaganomics ░░░░░░░░ I agree with Arthur ░░░░░░░░ this Under Reaganomics we ░░░░░░░░ in you guys did ░░░░░░░░ you were there you ░░░░░░░░ taxes and rebuilt the ░░░░░░░░ economy so we could ░░░░░░░░ the Cold War And ░░░░░░░░ was largely paid for ░░░░░░░░ borrowing But look at ░░░░░░░░ payoff I mean the ░░░░░░░░ was a booming economy ░░░░░░░░ won the Cold War ░░░░░░░░ borrowing in and of ░░░░░░░░ is not a bad ░░░░░░░░ But what have we ░░░░░░░░ with Bidenomics Nothing KUDLOW ░░░░░░░░ no, I agree.”