Former Acting White House Chief of Staff Mick Mulvaney argues Democrats have worsened the supply-side of the economy. #FOXBusiness
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This is ‘all Washington knows how to do’ to fix inflation: Mulvaney
Inflation has been a growing concern for economists and policymakers, and the government’s response to tackle this issue often involves a select set of actions. However, former White House budget director Mick Mulvaney believes that these actions are not effective, stating that it is the only solution “all Washington knows how to do.”
Mulvaney is critical of the government’s response to inflation, arguing that it primarily focuses on increasing taxes and spending cuts without considering other alternatives. His remarks came as the Biden administration proposed a $3.5 trillion spending package to address various economic challenges, including rising inflation.
The former budget director argues that tax increases only add burden to the economy, leading to a decrease in investment and stunted economic growth. He suggests that Washington should explore other approaches to combating inflation, such as reducing regulations and adopting pro-growth policies.
Mulvaney’s stance is not without supporters within the economic community. Many economists, including some from prestigious institutions, share his concerns about the government’s heavy reliance on taxation and spending cuts to fight inflation. They argue that these measures have limited long-term benefits and can potentially worsen the situation.
Instead of implementing tax hikes and austerity measures, Mulvaney proposes a different approach. He suggests that reducing bureaucracy and regulations can increase efficiency and productivity in various sectors, ultimately alleviating inflationary pressures. By allowing businesses to operate more freely and reducing the costs associated with excessive red tape, the former budget director believes that the economy would experience sustainable growth without the need for heavy-handed government interventions.
Moreover, Mulvaney emphasizes the importance of adopting pro-growth policies to address inflation. He argues that encouraging investment through lower taxes and fewer regulations can lead to increased job creation and economic expansion. This, in turn, has the potential to mitigate inflationary pressures by stimulating the supply side of the economy.
While his perspectives offer an alternative viewpoint on tackling inflation, critics argue that Mulvaney downplays the significance of fiscal policy in managing economic challenges. They claim that government intervention, including taxing and spending, can play a crucial role in countering inflation and maintaining stability.
Ultimately, the debate surrounding the best approach to address inflation continues. While Mulvaney and his supporters advocate for reduced regulations and pro-growth policies, others believe that a balanced approach, including both fiscal and monetary measures, is necessary. As the government continues to grapple with the complex issue of inflation, it remains to be seen which path policymakers will choose to follow to restore economic stability and mitigate the impact of rising prices.
Because it directly impacts people's cost of living, which they immediately feel, inflation is much more harmful to individuals than a collapsing stock or property market. The current market attitude is extremely pessimistic, which is not surprising. In current economy, help is very necessary if we are to live.
They know raising rates will help nothing. Democrats don't want to slow inflation, THEY CAUSED THE INFLATION.
The best incompetent money can buy,
better buy gold right now because dollars arent good enough to survive
Are you guys really thinking this though?
The only thing these democrats know how to do is to change free market capitalism into state run Capitalism/Fascism/Marxism.
The world economic forum;.. say “you will have nothing, and be happy about it.” That includes they are incapable of their job.
Kinda pisses me off, that in a day lost, I could have bought a brand new muscle car, for flipping a burger. Now i’d be lucky to get a eco car and pay for it for the rest of my life. Yaaaaaaay!
Are you nuts there’s 90 million Republican voters that like Trump there’s over 200 million Republicans it’s way more of us than there are of them
Nobody wants to be perceived as being too old and too tired and too stupid like Joe Biden oh yeah to criminally corrupt
Oh yeah well she has Bernie Sanders and Hillary Clinton. That’s how Washington really works
Trump is the only one that uses his own money pretty much right as soon as you declare you can’t talk to the super packs anymore right that’s how Washington works
Leap express in Saturday
Trump administration on with Mr. Mulvaneys hope they did perfectly they bring in the causes of growth and prosperity guess what you don’t have to raise the tax percentage because you have more aggregate dollars everybody was working that’s a true success story
In what universe are you concerned about the prosperity of your country and the citizens of it do you encourage unemployment as a tool where these guys go to school Harvard
Nothing newsworthy here…do better, fox.
Everyone in politics sticks around too long.
We see so much commentary on 7% or 9% inflation "coming down" to a sort of 2% rate, but the commentators never mention that our August '22 year-over-year 8.6% piles on top of August '21's 6%+ rate. In essence, since Biden took office, we experienced from 15% to 20% jumps in the price of goods and services.
Watch the white house when they finally admit it's a recession we're already in by the time they admit it it'll be a depression
In a real world my cat could beat Joe Biden
It seems like Joe Biden is doing all of this stupid stuff just to get attention and be on TV every day. It's like a pathetic episode of Jerry Springer. Whatever Joe does, you know it's going to be a Train Wreck.
Trump is the best choice bc he has nothing to lose. He'll bulldoze the Swamp. We need DeSantis where he is for one more term bc State support is critical. Pompeo needs to return as Sec of State.
The media keeps trying to paint this NFT thing as a Trump loss or goofiness, it is not. It increases visibility and he collected $4.5 in campaign contribution that are not actually counted as campaign contributions. The contributors also get a souvenir that COULD appreciate in value.
And finally, Trump could release a second series next week and it would have the same result.
From that view it is tactically brilliant, it increases visibility, generates funds, and it is repeatable. Trump has basically monetized the memes the internet has made about him.
If it wasn't for the big cheat, a turd could beat Obiden.
Keeping the border open, wouldn't that increase demand for goods and services only concerning the people that walk over the border they have nothing or very little to purchase goods and services
inflation is a world issue?
Trump had no "magic" in 2016. He was running against Hillary Clinton, the ONLY Democratic candidate he could ever beat, for crying out loud. Even Clueless Joe, who sat in his basement throughout the 2020 campaign, beat him. Trump is done. No more Hatfields & McCoys. It's time to move on to GOP candidates who are ELECTABLE. That will be DeSantis / Rand Paul in 2024.
None of this matters unless the vote system is fixed or we'll just sit by and watch Democrats count cases and cases of mystery ballots until they get the results they want just like they did last time.
I thought the NFT thing was just something fun to do.
A falling rate of increase does not erase excessive inflation that already happened!!!!!!! That's just foolishness, no matter whether it is Joe Clueless saying it, or for a Fed Governor to say we only need to get back to 2%. That doesn't do what's needed. We NEED a recession, we need DEFLATION. It must be "managed", and people should not fear it. We have a much different safety net than we did in 1929. This country must restore prices back to what they were when Obama first took office. That time-frame is when a whole lot of US workers were forced out of jobs, and went on fixed income pensions. Purchasing power must be restored to those fixed income people, and to the large number of other people unemployed through this recent 15 years.
Biden administration reminds me of Hollywood movie,"DUMB & DUMBER".
Over spent enough
Cavuto is just like Wallace
People what do you think that's going to happen to inflation when Biden adds another 2 trillion dollars to the deficit on December 23
Trump 2024!
Great Video. I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I just began investing and i will really appreciate any tips or helpful guide.
The problem is Trump is the only Federal Republican who has at least said what needs to happen such as Drain the Swamp. DeSantis looks pretty good though.