Former Trump Economic Advisor Stephen MooreStephen Moore Trillions in taxes, trillions in spending, trillions in credit – what could go wrong? Why isn’t Washington defending American corporations from foreign attacks? Former Trump economic advisor praises “blowout” job report MORE struck on Sunday President BidenJoe BidenTrump advertises record, in return beats Dems on stage Trump calls on China to “make amends” for its role in the coronavirus pandemic Lincoln Project Co-Founder: Trump’s Words “Will Certainly Kill Again” MORE‘s infrastructure proposal calling on the Democrats to “stop”.
During an interview with John Catsimatidis on his radio show on WABC 770 AM, Moore said he feels the economy is recovering but that another trillion dollar spending bill and tax hike, as Biden has suggested, would be counterintuitive.
“The biggest threat I see to the economy is rising prices and the taxes that Biden wants. If we can prevent that, I think we can see a really strong rest of the year, ”said Moore.
“So Joe Biden: Stop taxing. Stop spending money. Stop borrowing and this economy will be fine, ”he added.
Moore also incriminated the May job report from the Department of Labor released on Friday. The labor market created over 559,000 jobs in May, and unemployment also fell from 6.1 percent in the previous month to 5.8 percent.
While Biden hailed the report on Friday, acknowledging the improvement in progress on COVID-19 vaccinations, Republicans argue that the expanded unemployment benefit from Biden’s $ 1.9 trillion US rescue plan is preventing people from returning to work.
Half of the states in the US have announced plans Reduce federal unemployment benefits before the end of September. Moore told Catsimatidis that small businesses in states that didn’t announce such plans would be adversely affected.
“It’s going to be a real burden for small businesses in states like this because it’s tough to compete with your rich Uncle Sam when you’re trying to get your workers back into work,” he said.
John Catsimatidis is an investor in The Hill.