Economist Stephen Moore discusses the markets’ reaction to the Biden administration’s "lunatic" fiscal policies during an appearance on "Varney & Co." Monday, saying he’s "a little more pessimistic" about the country’s economic recovery amid Democrats' big spending push.
STEPHEN MOORE: If you'd asked me a month ago, I would have said, look, I think for the rest of the year, the economy looks really strong and I'm going to stick with this. But I'm a little more pessimistic now. I think the markets are starting to see how lunatic these fiscal policies are that are coming out of the White House.
I mean, the fate of the Western world rests on the shoulders of Joe Manchin, because if he sides with the Democrats and they push this stuff through without a single vote, which they could potentially do, that would be, I think, extremely reckless. And I think it would be very bad for the markets.
Can the Democrats push this thing through both the tax increase and the $4 trillion spending bill without a single Republican vote? Because I guarantee you they don't have any Republican votes on this. And even the bipartisan bill… l is in a lot of trouble right now.
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Economist Stephen Moore discusses the Democrats spending plans impact on inflation, arguing the rising prices of consumer goods is a ‘big political problem’ for Biden.