The look on CNN host Kate Bolduan’s face said it all. As her guest, CNN economics analyst Stephen Moore, described the “tremendous” positives of President Donald Trump’s economy during an appearance on her afternoon program Friday, her smile abruptly transformed into a disdainful frown.
Tell us how you really feel, lady …
“When it comes to the economy, you’ve got 4.5 percent growth, you’ve got the lowest unemployment rate virtually in 30-40 years. You’ve got low inflation — I mean, whatever Trump is doing on the economy, it sure is working,” Moore said.
It’s working primarily because, as a billionaire businessman himself, the president understands that it takes across-the-board tax cuts and massive deregulation to spur true economic growth.
“My point is, all these people, like Larry Summers, have second guessed everything Donald Trump has done and yet, you look at the results so far, and it’s hard to argue that this guy hasn’t been a really good custodian of our economy,” Moore added
Summers is a left-wing zealot who briefly served as the director of the National Economic Council during former President Barack Obama’s tenure in office and who believes — just like his former boss — that the key to growing the economy is via increased government involvement. In 2014 he argued that normal market forces by themselves cannot sustain full employment. Government must instead intervene by wasting taxpayer money on useless projects.
He’s been especially critical of Trump’s tax cuts and their aftermath, including the numerous wage increases and bonuses doled out late last year and early this year by corporations such as AT&T, Fifth Third Bancorp and Wells Fargo, to name just a few.
Pledges After GOP Tax Cuts:
•AT&T: Invest $1B in US; $1,000 employee bonus
•Boeing: $300M investment
•CVS: Hire 3,000 workers
•FedEx: Increase hiring
•Fifth Third Bancorp: Minimum wage to $15; $1,000 employee bonus
•Wells Fargo: Minimum wage to $15; $400M to nonprofits pic.twitter.com/5CVNaQz8b9
— Fox News Research (@FoxNewsResearch) December 20, 2017
“I think it’s a gimmick. I think in many cases, the firms have to raise wages because labor markets are tight and so why not curry some favor with the White House by linking it to the tax cut? I think that it’s a very common device,” he claimed during an appearance on CNBC in january.
“If you want to give somebody some money, but you don’t want to promise it to them on a continuing basis, you frame it as a bonus. So I think there’s a lot of appearance management here, and look, the corporate tax cut’s gonna be forever. If the firms really believe this had to do with the corporate tax cuts, why aren’t they committing the bonuses [forever]?”
For a so-called economist expert, Summers seems to have no comprehension of how the market functions. He is, in that regard, not much different than Bolduan and every other left-wing host at CNN who refuses to accept the truth about Trump’s booming economy.
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