Former Trump Economist Stephen Moore, citing a new Department of Labor report released Friday, says it was not a good day for the Biden administration as indicated by the sharpest increase in inflation since 1982.
Moore, who made a Sunday appearance on “The Cats Roundtable” radio show on WABC 770 AM hosted by John Catsimatidis, says that “half of America, they’ve never seen inflation like this before.”
The labor report dictates that “all items index rose 6.8 percent for the 12 months ending November, the largest 12-month increase since the period ending June 1982.”
“Half the people in the country today were born before 1980, and half of them were born after 1980, so that means that for half of America, they’ve never seen inflation like this before,” Moore stated.
“Biden said this [Build Back Better bill] will not add one thin dime to the deficit,” Moore continued. “Well, this report says it will add $2 trillion to the deficit. That is not exactly the news that Joe Biden wanted to hear when this [Build Back Better] bill is already in grave danger.… This Congress is engaged in financial fraud. Kudos to Lindsey Graham for calling them out on it and exposing the fraud. Because this is a multi-trillion-dollar fraud against the American people.”
During his interview, Moore refers to a comment Sen. Lindsey Graham, R-S.C., made. Graham, who appeared on Fox News, says that “this bill, Build Back Better, will be gasoline on the inflation problem. It destroys the ability to extract fossil fuels. Gas prices went up 58% percent. The last thing I’m going to do is add more burdens to working families in South Carolina.”
According to a Congressional Budget Office report, “a version of the bill modified as they have specified would increase the deficit by $3.0 trillion over the 2022–2031 period.”=