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

EXCERPT:

MOORE: “You know, if they just borrowed $4-5 trillion more, it would have worked. So Biden comes in and buys this crackpot theory, which was very convenient for him because he wanted to spend money anyway. And now we’ve had this — right? And now we’ve had this experiment with 'Bidenomics', and it is modern monetary theory. And the point of our piece that Arthur and I wrote is who have been the victims of this? Well, the middle class, Larry, because the prices have gone up by 20 percent, incomes are only up 16 or 17 percent. So, the average American is poor as a result of this. So this idea does not work. Hopefully we can we can put it in the grave and pour salt on the soil so the idea never comes back. One other quick thing, Larry, if I may. You talked about Reaganomics and I agree with Arthur on this. Under Reaganomics, we came in — you guys did it, you were there, you cut taxes and rebuilt the American economy so we could build the Cold War. And that was largely paid for by borrowing. But look at the payoff. I mean, the payoff was a booming economy. We won the Cold War. So borrowing in and of itself is not a bad idea. But what have we gotten with 'Bidenomics'? Nothing.”