Mnuchin Knocks Some Sense Into Biden

It’s about time.

Trump’s Former Treasury Secretary Steven Mnuchin recently sat down with Fox’s Larry Kudlow and rocked President Biden over the senseless spending he and the Democrats are doing.

Kudlow began by asking Mnuchin about President Biden’s Build Back Better Act which congressional Democrats are still pushing. While the BBB bill is currently dead, if it is eventually passed it would result in another $5 trillion being spent.

Mnuchin responded by saying, “We spent $4 trillion and the first two bills we passed 96-0 and 100-0 – overwhelming support – and I think had we not done that we would’ve had a global depression.”

“But we should have stopped there,” Mnuchin added. “We didn’t need the last $2 trillion, and we surely don’t need more spending now.”

Mnuchin then unloaded on Biden’s Build Back Better plan and stated, “When people say ‘Oh, it’s deficit neutral,’ it’s not deficit neutral. That’s silly government math over a ten-year period. The debt would go way up.”

Kudlow then asked the most important question and asked what his thoughts were regarding inflation since so many other economists have been giving mixed signals about it and predicting it will go down. Mnuchin replied, “There’s no question we have inflation, we’re going to continue to have inflation.”

“I think the Fed was slow, and I understand why they were slow because they wanted to be careful…but the minutes came out today,” Mnuchin added. “Clearly the Fed is going to raise rates. The Fed is going to normalize the portfolio, it’s just [a matter of] how quick or how fast they do it.” 

“I think we’re going to slow down inflation, but we definitely have to raise interest rates along the way,” Mnuchin explained.