My guest this week is economist Steve Moore
Our topic: the economy and how the trillion upon trillion dollar spending orgy in Washington is going to cause irreparable damage to America.
“This is an extremely dangerous time for our country. What happens over the course of the next three or four months will have decades worth of repercussions,” explains Steve.
“The people who are running Washington right now are out of control. I think they’re crazy. Joe Biden, Pelosi, and Schumer have an agenda to truly radically transform our country” and not for the better.
“They are targeting the productive class, the people who produce things, the people who work, the people who save, the people who invest, the people who start businesses.”
They want to eliminate incentives for people to work, save and invest; all the key drivers of growth.
By the end of 2021, federal debt held by the public is projected to equal 102 percent of GDP.
Debt that high and rapidly rising increases the probability of a fiscal crisis, 70’s era inflation and ultimately risks the U.S. dollar’s role as the world’s reserve currency.
It is time to wake up to the fact that our country’s financial destiny is being determined by people in Washington who have virtually no private sector business or capital markets experience. These are people who have no idea how to create wealth.
Steve “looked at the top people in the Biden administration, starting with the top, Joe Biden, Kamala Harris, Nancy Pelosi, Chuck Schumer, the treasury secretary, the labor secretary are the people running the FTC, the SEC. Out of the top 40, how many years of business experience combined do these people have?”
The answer is dismaying.
This is an ugly story, but one you need to know. Listen in, then call Congress to tell them to stop this madness.