Inflation Reduction Act will make inflation 'much, much worse': Stephen Moore
Former Trump economic adviser Stephen Moore spells out his criticisms for Democrats' Inflation Reduction Act set to pass after a House vote.
Former Trump economic adviser Stephen Moore slammed Democrats' Inflation Reduction Act as the equivalent of "dousing" a forest fire with kerosene on "Fox & Friends" Thursday. Moore told host Brian Kilmeade that the bill would make inflation "much, much worse" once in effect and called the uptick in government spending "incredibly irresponsible."
STEPHEN MOORE: IF BIDEN AND DEMOCRATS GET THEIR WAY, RECORD INFLATION WILL GET EVEN WORSE
STEPHEN MOORE: If this bill passes, and I'm still holding out hope if the vote is tomorrow, we can switch three or four Democrats. Maybe there's somebody in the Democratic Party in the House who has some fiscal common sense. Right now, if they were to pass that bill, you're talking about almost $4 trillion of new spending under Biden. That's an increase in our spending and our debt. That's almost as much money as it cost to fight World War II. These numbers are outrageous. This is going to make inflation much, much worse. You're basically taking a forest fire and dousing it with kerosene, and it is incredibly irresponsible. By the way, why can't we just produce our American oil and gas and coal where we get 70% of our energy and drive down those prices, so Americans don't have to pay $4.50 a gallon to fill up their tank?
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