Holmes: Everything Biden does is the opposite of good economic policy
Former McConnell chief of staff Josh Holmes discusses the Biden administration's strategies in combatting inflation.
Josh Holmes, former chief of staff for Sen. Mitch McConnell, criticized the Biden administration's approach to inflation, saying the strategy is the "exact opposite" of what is needed to correct the economy. Holmes said on "America's Newsroom" Wednesday the administration's policies, which have pumped more cash into the marketplace, are worsening the problem.
JOSH HOLMES: We're not talking about presiding over a bad economy, we're talking about basic financial literacy at this stage. Remember, we're at 8.5% inflation, and their answer is to flood the marketplace with more currency. They still want to pass [Build Back Better]. You have this problem with gas prices. Their first instinct was to try to hand out gas cards. Again, flooding more currency into the economy.
Almost everything, from the student loan – think about that for a second, they want to forgive student loans. Meanwhile, you've got an armada of ships hanging out in the Pacific and Atlantic that can't be unloaded because we don't have the people to do it. Every single thing that they're doing to try to rectify the economy is the exact opposite of what you should do.
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