Former Trump Economic Advisor Promises To 'Turn Around This Economy In 90 Days' After Election

3 months ago

Speaking at the Faith and Freedom Coalition Conference Saturday, former economic advisor to President Trump, Stephen Moore, discussed Trump's economic policy.

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Transcript

00:00Thank you very much.

00:11Wow.

00:12Look at all these deplorable people.

00:15Raise your hand if you're deplorable.

00:19By the way, they still think we're deplorable, right?

00:22They still think we're deplorable, but you're adorable deplorables.

00:25Thank you so much for having me.

00:26Ralph is a great, great friend.

00:28By the way, I don't know if you saw this, it just came across the wire on my Wall Street

00:32Journal app.

00:33Did any of you see this, that they're renaming, Biden wants to rename the BATF?

00:39Have any of you seen this yet?

00:43They're going to rename it the Bureau of Alcohol, Tobacco, Firearms, Gas Stoves, Air Conditioners,

00:48Gas Cars.

00:49These people are pretty crazy that we're up against.

00:52And I got to tell you, I saw President Trump last week.

00:56You're going to see him today at the Business Roundtable event with 75 major CEOs.

01:04He knocked it out of the park.

01:05This guy is so on his A game right now.

01:07It's amazing.

01:08But just one kind of fun story about Trump.

01:11So before he went on the stage, we're just chatting, I said, well, Mr. President, how

01:16did you come up with that great idea?

01:18I think it's a great idea.

01:19Let's not tax tips, right?

01:21What a great, great idea.

01:22I said, Mr. President, how did you come up with that?

01:25He smiled at me.

01:26He said, a waitress told me.

01:27Anyway, that's Mr. Trump.

01:28He's a man of the people.

01:30All right.

01:31I'm going to try to give you a really quick presentation that usually takes about twenty

01:37five, thirty minutes in about twelve, thirteen minutes.

01:39I'm going to talk quickly.

01:40But you're smart people because, look, it's all about the economy.

01:44Donald Trump is on Venus.

01:46Biden is on Mars.

01:47You could not be talking about two presidents that have more diametrically opposite views.

01:52I'm very proud of having served both in 2016 and this year as one of the senior economic

01:58advisers to Trump.

01:59And I guarantee you, we when we get back in, we will turn around this economy in 90 days.

02:04I guarantee you.

02:05All right.

02:06So let's go.

02:07I call it the Bidenomics calamity because it has been a calamity.

02:14And, you know, obviously, the number one issue, the reason that that Donald Trump is going

02:19to win and Biden is going to lose is because of what has happened with inflation.

02:23And this just shows you almost every good and service has risen much.

02:27By the way, the official number is 20 percent for inflation since Biden came in.

02:32How many of you believe that number is a lot higher?

02:36Much higher.

02:37I mean, 25, 30, 40 percent.

02:38I think these numbers don't even make sense.

02:40But that's a crazy amount of, you know, by the way, a family of four goes to McDonald's.

02:46Now they're paying 60 bucks.

02:49People cannot afford what's going on.

02:50All right.

02:52This is just showing you the the red line is the inflation rate under Trump.

02:57The blue line is under Biden.

02:59You can see the incredible difference.

03:01Three times higher inflation under Biden.

03:04Now, this is an important one.

03:07This is what we've spent in the end on covid six trillion dollars, and most of it was spent

03:14under Biden.

03:15And this I want to make a deadly, serious point to you.

03:18This is really, really important.

03:21Can we all as a movement.

03:24Can we all come together and make sure that never, never, never again will we allow the

03:31government to shut down our schools?

03:34Never again will we let them shut down our churches.

03:37Never again will they shut down our businesses, our parks.

03:40This was one of the greatest abuses of power of government in the history of the country,

03:45folks.

03:46I guarantee you they want to do it again.

03:49They're going to use climate change or something else.

03:51And we have to stand in a movement saying never, never, never again.

03:55The abuse of power, what they by the way, lockdowns, lockdowns killed three times more

04:01people than were saved.

04:03The people who are.

04:04And by the way, the only you know, I think Donald Trump was a spectacular president.

04:09The only mistake he made, he should have fired Anthony Fauci on day one, on day one,

04:17Anthony Fauci should have been fired.

04:19So this is the spending spree that caused this inflation.

04:24Government got to 50% of GDP, which made us a socialist country.

04:28And this is what Biden comes in.

04:30Trillions and trillions and trillions of dollars of spending to bankrupt our country.

04:34And by the way, I give talks around the country, you know, for Trump, you know, what Biden

04:39has done.

04:40And the first question I always get asked by people, and I want your.

04:44How many of you people think that what that that what Biden is doing is intentional?

04:48You think it's intent?

04:49Is he trying to destroy the country?

04:51I mean, seriously, I don't I don't like getting into people's motives.

04:55But when you if you wanted to destroy the country, you do exactly what Joe Biden has

04:59done.

05:00Right.

05:01You would you would destroy our border.

05:02You wouldn't enforce the border.

05:04You would destroy our currency.

05:05You would let inflation go through the roof.

05:07You would you would stop producing American energy.

05:10You would let crime run rampant on the streets.

05:13You would devalue the dollar.

05:14All of these things Joe Biden has done and has caused irreparable harm to our country.

05:21Going to move on.

05:22This is the debt.

05:23These are the new numbers that just came out, folks.

05:25New numbers.

05:26Look at this.

05:27This is the first time in American history, even in a recovery.

05:30If you look at the new numbers, Joe Biden wants to take our national debt from thirty

05:34three to fifty trillion dollars, 50 trillion.

05:37When I first came to Washington and was proud to work for Ronald Reagan, the entire national

05:42debt was one trillion.

05:44Now we're headed to 50 trillion.

05:46That will bankrupt our country.

05:47And I guarantee you, Donald Trump will turn this around.

05:51Going to kind of speed this up.

05:53This is this is the thing that's really cool.

05:55This is one of the things we're proud of.

05:57This shows you what happened to middle income Americans in terms of their incomes under

06:02Trump.

06:03Look at this.

06:04We saw six thousand five hundred dollar increase in incomes under Donald Trump in four years,

06:11which is spectacular.

06:12I showed these charts to Donald Trump just a couple of weeks ago.

06:14He was amazed about this.

06:16So hold that thought, OK, for a six thousand five hundred dollar increase in income under

06:22Trump.

06:24Look what's happening with Biden.

06:26Almost a four thousand dollar reduction.

06:29That's a ten thousand dollar swing.

06:31Donald Trump is the blue collar middle class president and he will be again.

06:39Biden wants to raise taxes through the roof.

06:41This is serious stuff, folks.

06:42He wants to double the capital gains tax.

06:44He wants to double the the the small business tax.

06:48He wants to tax unrealized capital gains.

06:51I mean, we're literally if you had a farmer who bought a farm for, say, five hundred thousand

06:56dollars and 10 years later, that farmer is worth three million dollars.

07:00He'd have to pay a tax on the two and a half million dollar appreciation of the farm, even

07:04though he still owns it.

07:06People would literally have to sell the farm to pay the taxes under Joe Biden.

07:10That is un-American.

07:13Under Joe Biden, under Joe Biden, the American tax rate on American businesses would be higher

07:19than under China and Russia.

07:22It's astonishing.

07:23I mean, is he is he rooting against America?

07:24Is this a head start program for all the other countries under the we lowered the business

07:29tax to the low end and Biden has increased them.

07:33That's going to put America at a disadvantage.

07:35I'm going to speed ahead here because OK, now this is a key.

07:41This is one of the most important charts in this presentation.

07:44Energy policy.

07:45You can see see the green line there.

07:48That is the Sheryl Revolution, where we tripled American oil and gas output.

07:52And under Trump, under his drill baby drill policies, the United States in 2019 was producing

07:59more oil and gas than Russia and Saudi Arabia.

08:03Under Donald Trump, for the first time in our lifetimes, the United States was not just

08:09energy independent.

08:10We were the energy dominant country in the world under Trump.

08:16Look at look at the green line that goes straight down.

08:18How many of you in this room have heard of something called net zero?

08:21Raise your hand if you ever heard of it.

08:23This is this lunatic, crazy idea by the left that we are going to dismantle all of US energy.

08:30No oil, no gas, no coal production in the United States.

08:34Ladies and gentlemen, we have more oil, gas and coal than any other country in the world.

08:40By the way, this country was built on coal.

08:43I'm in favor of coal.

08:44I'm in favor of oil and I'm in favor of natural gas.

08:47He wants to take it to zero.

08:50Ladies and gentlemen, if you want to destroy the American economy, you destroy their energy

08:54source.

08:55And that's exact.

08:56And by the way, you have to be a lunatic.

08:59You have to be a crazy person to think that you can run a 28 trillion dollar economy that

09:04makes everything from steel to cars, to technology, to the Internet, to the cloud, to all of the

09:11buildings and things we have in this country.

09:13Does anyone actually believe we can provide enough power for this economy?

09:17Windmills?

09:18I mean, seriously, it is a lunatic idea and I think it's designed to, frankly, I think

09:25it's designed to destroy the economy.

09:27Now, this is an amazing chart.

09:30This is coal production of all the major countries.

09:35We've been closing our coal plants and I think that's outrageous.

09:39We should be, we have clean coal in this country.

09:41But look at China.

09:43You see that?

09:44Is there anybody in this room who actually thinks President Xi cares about climate change?

09:49It's laughable.

09:50All he wants to do, they are laughing at us in Beijing, as Donald Trump would say.

09:54They're laughing behind our back.

09:56We are dismantling one of our great comparative advantages is that we have access to, and

10:01by the way, we should be using all our mineral resources as well.

10:04And Donald Trump will make that happen as well.

10:06Quickly, I want to just show you a couple more things and then I have to bring this.

10:11This just shows you which governors in America handled, how many of you are in a red state?

10:17Raise your hand.

10:19How many are you in a blue state?

10:21I'm sorry, folks.

10:22We're going to turn this country all red on election day.

10:25But look at this.

10:26The states in green, they're the ones that kept their economy open and handled COVID

10:31well.

10:32Look at what the red states, look at what the ones that are in red are the ones, California,

10:36New York, New Jersey, that shut down their schools, shut down their economies.

10:41It just shows that we handle things a lot better than they do.

10:45Now, the biggest thing that's happening in America, and I've got about two minutes left,

10:50is the massive migration of people and businesses and capital and money out of red states into

10:57blue states.

10:58And you want to see, see, this is where, isn't it amazing, progressives destroy everything

11:03they touch, don't they?

11:05Look what's happening in the cities, look at what's happening in the states they run.

11:09So these are the number of people are moving out of blue states.

11:12Look at New York.

11:13I'm from Illinois.

11:14Anybody here from Illinois?

11:15I'm a Chicagoan.

11:16What's happening?

11:17We got the worst governor and worst mayor in America in Illinois, but they're destroying

11:23our states.

11:24And you look at this, New York, New Jersey, Illinois, and look at California, by the way.

11:29How do you destroy California?

11:31I mean, it's a slice of heaven.

11:33And for the first time in the history of the United States, people are moving out of

11:38California because they can't stand the taxes, they can't stand the crime, they can't stand

11:44the meltdown of civilization in California.

11:46We are not going to allow Joe Biden and Kamala Harris to turn the United States into California,

11:52right?

11:53That ain't going to happen.

11:58So – oh, by the way, this is Gavin Newsom's plan to save on energy is everybody's going

12:04to move out of California and they won't have to use energy anymore.

12:06I mean, that's a great plan, Mr. Mayor.

12:10So let me just summarize because I've got one minute left.

12:16Donald Trump, who I've spent a lot of time with, and especially recently, he is at the

12:22very top of his game.

12:24And I don't always – and I have arguments with Donald Trump.

12:29By the way, this is – I don't know our cities, but I'll tell you this.

12:34In every meeting I've been with Donald Trump, whether it was in the Oval Office or on Air

12:38Force One or on his campaign plane when we've talked, even when I've disagreed with him

12:45– and one thing I like about Donald Trump, by the way, and admire about him, is you can

12:48argue with him.

12:49You can – but he – he's the president and the candidate, he's going to decide the

12:54policy.

12:55But I will tell you this.

12:57Every single decision that he made, even when I disagreed with him, I knew there was always

13:06and everywhere about putting America first.

13:10And that's what this president will do, and we will make America great again.

13:16Thank you, folks.

13:17Great to be with you.

13:18We're going to win!

13:24Thank you.

Former Trump Economic Advisor Promises To 'Turn Around This Economy In 90 Days' After Election

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