Stephen Moore to Newsmax: Dems Need Debt Ceiling Raised to Meet Spending
Stephen Moore, a senior economic adviser to then-President Donald Trump, at the Conservative Political Action Conference on Feb. 28, 2020. (Samuel Corum/Getty Images)
By Sandy Fitzgerald | Monday, 04 October 2021 06:03 PM
President Joe Biden's call Monday for Republicans to allow Democrats alone to raise the debt ceiling on their own is because Democrats want to spend $6 trillion to $7 trillion over the next several years, said Stephen Moore, a senior economic adviser under former President Donald Trump, on Newsmax.
"The Democrats own this debt, by the way," Moore said on Monday's "American Agenda" while appearing with Tim Phillips, president of Americans for Prosperity, the Koch brothers' main political advocacy organization.
"Now, it does pay for some of the past borrowing, but this is also looking forward to making sure that as they power all these trillions of dollars that they're not exceeding the debt ceiling," Moore said.
Senate Minority Leader Mitch McConnell, R-Ky., has refused to allow his party to approve the call to raise the debt ceiling, and Moore said the senator is right that the Democrats own the increased spending, as "not a single Republican is on board with this agenda of this massive borrowing spree."
To pass the measures, Democrats must have every one of their 50 senators on board, Moore noted, adding that he thinks the White House is "just trying to scare people" and there won't be any credit default anyway.
Meanwhile, Phillips said he thinks both Democrats and Republicans have done a "lousy job" when it comes to the $3.5 trillion spending bill under consideration, but the Republicans' efforts trying to build opposition to the measure is gaining steam.
"I was in Iowa over the weekend doing events with Americans for Prosperity against this new spending and all the Green New Deal and everything else they want to jam into it," Phillips said.
"Americans are sick of what they're seeing in Washington. They're seeing inflation going through the roof on everything, and they look at Washington and what they're getting is an attempt by the left to cram through what would be the most aggressive socialist move, potentially, since the Great Society in the 1960s."
Meanwhile, Biden often said while campaigning that he, not Sen. Bernie Sanders, I-Vt., was running the party. But as it turns out, "what we're getting out of Joe Biden is the Bernie Sanders agenda," Moore said. "Nobody signed up for this."
In addition, Biden on Monday blamed the Trump administration for its "reckless tax and spending policies," which he said added $8 trillion in debt.
"We haven't had a balanced budget since the '90s," Phillips said. "We had a Democratic president, but we also had a Republican Congress. So there's been lots of spending before.
''But that isn't the problem right now going forward. … The Democrats are trying to spend either $3 trillion or $3.5 trillion, or whatever the number is, and they have to account for that as well, and they can't even agree on that.
''This is for new spending going forward. The president's being disingenuous about that, and he knows that both parties have been guilty of spending way too much money and piling up debt."
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