On the podcast, Steve Moore told John Solomon that the U.S. is “in a mild recession,” adding, “It doesn’t really matter what we call this. I mean, what really matters is how much damage this is doing to American family finances,”.
Moore said that “the average family has lost since Biden became president, roughly $4,000 a year in purchasing power. In other words, their paychecks are not keeping track.”
Noting that the current inflation the country is experiencing is disproportionately hitting the poor and working class.
“It’s working class people and people living on a fixed income, making less than $60,000 that are really feeling the heavy negative effects of this,”
“And you know, the irony of this, John, is that all the left talks about is inequality, right? They’re obsessed with that,”.
Adding that “these policies, the inflation policy of Biden, has actually made inequality worse, because the people like Bill Gates and Warren Buffett and, you know, people like that are not suffering from high inflation.”
Discussing the administration’s proposed inflation spending package, Morre said that “the idea that they want to put another $700 billion of spending and taxes on top of an economy that’s already in a recession, I mean, that’s inexplicable, and it is economic malpractice, you know, cause real damage to the economy,”.
Adding that the proposed spending package is “going to make inflation worse.”
Speaking more about the bill, Moore said that “this is a bill about trying to continue to destroy our oil and gas and coal industry, and flood the economy with more wind and solar subsidies,”.