Breitbart Economics Editor John Carney said Tuesday on Fox Business Network’s Kudlow that President Joe Biden and Democrats’ giant spending programs are making inflation worse.
Carney said, “We’re heading into a global recession. Europe will not grow at all next year. The U.S. will be lucky after a couple of quarters of contraction to eke out 1%. I think the numbers are right on. I think they overestimated China’s growth. So when you take the European Union, China, the U.S., that is three biggest economies in the world, puts you into recession just with those, but we’ll have contractions elsewhere as well.”
Host Larry Kudlow said, “So how about right here? I was asked this question this morning. The cavalry is coming. That is my take. I’m not sure you agree with that or not, but the cavalry can’t stop the recession. We’re already in recession. The cavalry can, I think, reverse some of the bad stuff — at least that is my great hope, but they can’t pull us out of recession.”
Carney said, “What they could really do is block more bad stuff from happening. We keep seeing giant spending programs that make inflation worse. Student loan forgiveness or Inflation Reduction Act, the ridiculously named, that was just a spending program that makes inflation worse, which means the Fed goes harder, which means the recession comes harder. They can stop that. I’m with you. I hope the cavalry is coming. I think they are. I just did a story at Breitbart News about how the percentage of people saying inflation is very important jumped from 64% to 75%. Among black Americans, it jumped from 56% to 75. This is in one month, from September to October. With inflation that important, I think people are going to want to vote for Republican candidates who will stop the crazy spending.”
Follow Pam Key on Twitter @pamkeyNEN
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