During a recent Newsmax interview, former economic adviser Stephen Moore said he believes that the US economy wouldn't be in what he described as a "mild recession" if Trump had been reelected.
Moore was asked about revised gross domestic product numbers released earlier that day, which confirmed that the U.S. economy contracted in the second quarter, in the interview that aired on Aug. 25.
A recession is generally defined as negative growth in the economy for at least two consecutive quarters, a number the government revised up to minus 0.6 percent from minus 0.9 percent previously.
Moore, one of the nation's most prominent economists, has argued that the United States has indeed entered a recessionary period—despite the two-quarter rule not serving as the official definition.
“We are in a mild recession right now, no question about that,” Moore told the outlet.
“I would have to say that things are getting worse, not better,” Moore said, arguing that if Trump had won reelection and his policies were guiding U.S. economic policy, the picture would be reversed.
“I believe that if we had just stuck with the Trump policies, the U.S. economy would be booming right now,” Moore told the outlet.
Unless Biden's policies in taxing, spending, and regulating are hurting businesses' growth, the U.S. economy should be skyrocketing, he argued.
26 August 2022
Hozzászólások