Fox Business host Charles Payne said Monday that Vice President Kamala Harris is “distracting” voters from the Biden administration's failure to apply “Modern Monetary Theory” by calling for price controls.
To address the price hikes on Friday, Harris called for a federal ban on “price gouging” by grocery stores. speech Speaking about North Carolina's economic policies, Payne accused Harris and President Joe Biden of creating inflation by injecting “money that wasn't earned” into the economy. (Related: Former Trump adviser warns Harris' 'ignorant' pricing policies will lead to economic 'misery')
“The Biden-Harris Modern Monetary Theory was, you know, $1.9 trillion that we don't need in the economy, $1 trillion for the Inflation Control Act, more money here and there, we won't pay for this, we won't pay for that,” Payne told Fox News host Sandra Smith. “They created high inflation that, frankly, I don't think anybody thought would ever come back. We're at the highest inflation in 42 years. And by the way, we've only made it worse. People were saying the CPI numbers last week were good, but as long as these numbers keep going up, they're not good, because they're going to keep going up and up. It's clear that just about everyone in this country is suffering and in dire straits, except for the most fortunate.”
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'Inflation is theirs': Charles Payne accuses Harris of misleading voters with her economic record pic.twitter.com/sCfytS083M
— Daily Caller (@DailyCaller) August 19, 2024
Prices have soared by more than 20% since Biden and Harris took office in January 2021, with inflation hitting a recent high of 9.1% in June 2022.
“With this device they can do two things: One, they can try to not only try to disengage you, but they can also put their fingerprints, the Biden-Harris fingerprints, they own inflation. Some of this belongs to the Fed, but the majority of it belongs to them,” Payne continued. “Money that's being pumped into this economy is money that's being spent, not money that's being earned.”
Harris' proposal to fight “price gouging” is based on a law that allows the Federal Trade Commission to impose “severe penalties.” According to To the New York Times. invoice The bill, authored by Massachusetts Democratic Sen. Elizabeth Warren, would work with Harris to give the agency more power. Co-Sponsor A similar bill introduced by Warren in 2020. (Related article: “It will likely lead to higher prices”: Washington Post columnist criticizes Kamala Harris' economic plan on CNN)
“Jealousy, anti-business, corporate greed politics have always been in the Democratic playbook. This is nothing new. So in that case, it was just like, 'Hey, these greedy corporations are taking your money, I'm here to help.' So this is not new, it's ingrained in their playbook,” Payne said when asked by Smith who proposed the policy. “I saw Mark Zandi on Axios today. I've met Mark Zandi a few times and I like him as a person, but I think he's kind of endorsed a lot of the bad ideas of the Biden-Harris Administration. And I know there were a lot of bad ideas because Jason Furman and other Democrats have said, 'Don't do this, don't do that.' Larry Summers, stop the $1.9 trillion plan. Where we are now, everybody predicted we'd be here.”
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