WASHINGTON, DC- People are looking at the record highs achieved by the stock markets since November 3 and believe that it is due to Biden’s electoral college lead over President Trump.
Others believe that the reason is because despite Biden’s apparent lead, there is the belief that the Republicans will retain control of the senate, thus ensuring a split government and the inability of Biden to implement most of his damaging economic policies.
Stephen Moore is a leading economist and a Distinguished Visiting Fellow, Project for Economic Growth at the Heritage foundation. During an interview on Fox News Thursday, Moore slammed Biden, saying that his proposed policies, including a desire to join the Paris Climate deal will be harmful to American workers, as reported in the Daily Wire.
In the interview with Rick Leventhal, Moore noted that the unemployment rate had rapidly improved from earlier this year, when the number of people out of work spiked due to the coronavirus.
Prior to the release of the Chinese coronavirus on America, unemployment across the board was at record lows.
He also spoke about Operation Warp Speed, where a vaccine for the virus was created in record time, after President Trump had removed bureaucratic roadblocks to get the virus from research to development and on to distribution.
Near the end of the interview, Moore cautioned about negative impacts that would impact the United States if Biden, should he actually be sworn in, signs back on to the Paris Climate agreement.
“I think one of the best things that Donald Trump did when he came into office, and we had talked to him on the campaign about this, that Paris Climate Change treaty is a joke,” Moore said.
“The single biggest polluter in the world, by far, by far, is China and it doesn’t require China to do anything for another 10 years.”
“Meanwhile, we have to shut down our coal plants, we have to shut down our oil and gas facilities that employ millions of workers, we have to use more expensive energy while China and India and Russia laugh behind our back,” he continued.
“So I don’t think it’s a very wise thing to do, as I said in my note this week, this doesn’t put America first, it puts America last because American workers are the ones who are going to have to lose their jobs while the rest of the world—especially the countries that are the big polluters—don’t have to change their behavior.”
Leventhal asked about Biden’s pick for Treasury secretary, Janet Yellen. Moore spoke of Trump’s shepherding the country to the greatest and swiftest recovery from a recession in American history.
He touted the unemployment rate going below 7 percent in 6 months, while it took Biden and Obama 6 years to accomplish the same thing. He believes 2021 is setting up to be a “blockbuster year as long as Joe Biden’s policies don’t ruin it and don’t derail this incredible expansion.
Speaking to Biden’s selecting of Yellen, Moore said:
“I think she’s a very competent person. I don’t always agree with her on policy, but we could’ve gotten a lot worse. You know. I think a lot of conservatives are happy that at least it’s not Elizabeth Warren.”
Leventhal reminded Moore that some of the far-left progressives in the Democrat party were being touted for cabinet positions.
“Well, first of all, I was listening to that report and it sounds like it’s all this kind of racial and gender equality stuff and not choosing people. I’m not saying these people aren’t qualified, but I think Americans do want a color blind society and the idea that people should be picked because of their gender or the color of their skin probably isn’t the best idea for America.”
Leventhal then asked about the Paris Climate Accords, and asked Moore about an op-ed he had written for Fox News titled, “Biden Wants Us To Rejoin Paris Climate Accord. Why? It Puts America Last.” Moore said he thought it was a bad idea, as noted above.
If we go back to October during the first presidential debate, Biden claimed that an analysis of his policies showed they would yield tremendous job growth.
Biden’s comments made no sense, especially given the fact that he would be implementing punitive new taxes on businesses, increasing regulations, destroying energy jobs and moving toward a single-payer health care system.
Not to mention his plan to give amnesty to millions of illegal aliens, who would be competing with already unemployed Americans for less jobs, especially with hundreds of thousands of businesses shutting down due to coronavirus restrictions.
According to American Thinker, the analysis Biden referred to was done by Moody’s Analytics, by Mark Zandi. Zandi, the publication noted is employed by Moody’s, with a major shareholder of that company being one Warren Buffett. Buffett, as well as Zandi have been longtime supporters of Obama and Clinton for the past ten years, and now have included Biden.
In an article in the Associated Press, Moody’s claimed that Biden’s plan would lead to 18.6 million jobs during his first term, while claiming the average American’s income would increase by $4,800. Trump’s policies Moody’s claimed would lead to 11.2 million new jobs by 2025 with only a minimal income gain for average households.
One only needs to look at the Obama-Biden legacy of job creation to realize that Biden’s numbers have more holes than a spaghetti strainer.
During the debate, Biden had slammed President Trump on manufacturing and claimed that if he were president, he would create jobs by forcing the government to buy American. Really? Biden was in Washington, D.C. for 48 years and has been consistently putting China ahead of America as far as manufacturing jobs go. Now all of a sudden after nearly five decades he’s supposed to change his tune?
Bureau of Labor Statistics showed that at the end of 2008, when Obama-Biden took office, there were 12.9 million manufacturing jobs. Despite the fact that we were exiting a recession, there were only 12.4 million manufacturing jobs at the end of 2016, when hope and change left office. In other words, they lost around 500,000 manufacturing jobs. Where, oh where did they go?
Meanwhile, in December 2019, after only three years of a Trump presidency, with favorable tax and trade policies and fewer regulations, manufacturing jobs had gone back up to 12.9 million, a gain of 500,000 jobs.
Zandi in 2016 predicted that President Trump’s policies would cost the US 4 million jobs. Instead, President Trump’s policies have led to the creation of 6.5 million new jobs. In other words, Zandi, who claims Biden’s policies will lead to more growth than Trump’s only missed by 10.5 million jobs. You could probably get closer results throwing darts at a dartboard.
As American Thinker noted, Zandi and Moody’s were responsible in part to the economic collapse of 2008, by rating junk mortgages as Triple-A so they could be sold to the public. In other words, they contributed to the housing bubble which ended up crashing the economy.
Who has proven themselves able to create jobs, reduce unemployment and put America first?