The American economy is “incredible” and does not need stimulus bailouts; it just needs to eradicate the global coronavirus pandemic and fully reopen, according to Trump economist Steve Moore.
“It’s an incredible American economy,” Moore told Sunday’s “The Cats Roundtable” on WABC 770 AM-N.Y., noting to host John Catsimatidis the resilience despite blue state and big city lockdowns.
“All we need to do, in my opinion, John, is just get the government the hell out of the way. And let’s get this pandemic behind us. Let’s not raise taxes. Let’s not raise regulations. Let’s not shut down our oil and gas industries. Let’s let America boom.”
Moore expressed relief there was no upgraded relief at the end of the 116th Congress this weekend in the way of an upgrade to $2,000 stimulus checks.
“I’m not so sure we need this massive stimulus bill; we just need to get the vaccine out there, John,” Moore added to Catsimatidis. “We just need to get the vaccine out there. And we need to get the businesses open in New York City, and Los Angeles, and Chicago, and San Francisco.”
Moore marveled at the economic numbers, despite the coronavirus shutting down America’s largest cities. The stock market and companies outside of those hubs are still thriving.
“The Commerce Department revised upward how much the economy grew in the third quarter: 33.3%, which shatters the old record of all time by double,” Moore said. “The current estimate for the growth rate in this fourth-quarter, which just ended, obvious on Dec. 31, the estimate is now 10.1% growth, which is a phenomenal number.
“I like the way things are going right now, obvious we have to get the businesses reopen, but I’m just very skeptical that $1 trillion more in government spending, John, is going to solve this problem.”
Moore does fear the changes looming from the incoming Joe Biden administration, who Cabinet picks line up as a “misallocation of our priorities.”
“I’m worried about Biden wanting to raise taxes, raise regulations, climate change legislation,” Moore said. “They could do a lot of damage to the economy as we start to recover.”
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