Stephen Moore: 'Funny Seeing' Democrats Turning on Each Other Economist Stephen Moore speaks at CPAC 2020. (Samuel Corum/Getty Images)
By Eric Mack | Sunday, 03 October 2021 11:37 AM
Democrats have proved incapable of unifying their own party behind the $3.5 trillion budget reconciliation bill, forming a "circular firing squad" of factions in Congress and causing a "train wreck," according to former Trump economist Stephen Moore.
"Democrats have put themselves into a circular firing squad, and they are shooting at each other, and that's what Republicans normally do," Moore told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y. "As a Republican, it's kind of funny seeing the Democrats doing that to each other."
Moore added to host John Catsimatidis that Democrats are denouncing moderates and deal-making that used to be a noble endeavor in Congress.
"They're so angry at their two moderate senators, Kyrsten Sinema and Joe Manchin, who basically said, 'No way are we going to vote for this $3.5 trillion debt bomb bill,'" Moore continued. "Now we learn this week that there was a signed contract between the Senate Majority Leader Chuck Schumer – John, who you know well – and Joe Manchin, which agrees that they will not go over $1.5 trillion in spending, and that there will be other conditions: you'll have work requirements [for entitlements] and not new massive mandates.
"Boy, if Joe Manchin sticks to the contract, that will be very disappointing to the liberals in the Congress. They keep saying that they're going to transform America, but their transformation gets smaller and smaller in size."
Democrats have effectively foiled themselves, Moore said.
"It's a train wreck right now in Washington, and the Democrats can't seem to get anything passed," he added. "They couldn't get the debt ceiling increased. They can't get their own infrastructure bill through. And they can't get their $5 trillion spending bill. So, everything is at a standstill."
Moore, who once had to withdraw his nomination from former President Donald Trump for the Federal Reserve Board, warned of a potential conflict of interest by Fed Chairman Jerome Powell as he awaits a decision by President Joe Biden to determine who will be chair for the next term.
"Is Jerome Powell being political here, pumping up the money supply to aid Joe Biden so that Joe Biden will re-nominate him as the Fed Chairman?" Moore asked. "I wouldn't put it past him.
"The Fed was way too tight last year during the pandemic, and we had a crash in the commodity prices."
Then, Moore noted, "commodity prices are up 50% since Joe Biden's election. Is that a coincidence? I'm just going to ask the question."