Fox Business host Charles Payne criticized Vice President Kamala Harris on Monday, accusing her of attempting to divert attention from the failures of the Biden administration’s economic policies by calling for price controls. During a speech on economic policy in North Carolina, Harris proposed a federal ban on “price-gouging” by grocery stores to address high prices, a move that Payne deemed as an ineffective solution. He argued that Harris, along with President Joe Biden, had contributed to the current inflation crisis by implementing what he referred to as “modern monetary theory,” injecting unearned money into the economy.
“The Biden-Harris modern monetary theory, you know, the $1.9 trillion the economy didn’t need, another trillion dollars for the Inflation Reduction Act, and more money here and more money there, don’t pay this, don’t pay that,” Payne stated during an interview on Fox News. He highlighted that the policies implemented by the Biden administration had led to a surge in inflation, with prices skyrocketing by over 20% since they took office in January 2021, culminating in a recent high of 9.1% in June 2022. Payne emphasized that the inflation levels were causing widespread hardship for Americans, except for the most affluent individuals in society.
In response to Harris’s proposal to tackle alleged price-gouging, which involved granting the Federal Trade Commission the authority to impose penalties, Payne criticized the plan as misguided. He pointed out that similar tactics of targeting corporations for alleged greed have been common in Democratic politics, with Harris attempting to position herself as the savior against corporate exploitation. Payne noted that prominent figures like economist Mark Zandi had supported such policies, despite warnings from other experts like Larry Summers against excessive government spending.
“Pitching politics of envy, anti-corporation, corporate greed, has always been in the Democratic playbook. That’s not brand-new. So, in that case it was just like, ‘Hey, these greedy corporations are taking your money, I will come to the rescue,’” Payne remarked. He highlighted the consensus among various economists who had cautioned against the significant spending measures undertaken by the Biden administration, predicting the current state of the economy.
'They Own Inflation': Charles Payne Rips Harris For Pulling Wool Over Eyes Of Voters On Economic Record pic.twitter.com/sCfytS083M
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Payne’s critique of Harris and the Biden administration’s economic policies underscored his belief that their interventions had exacerbated the inflation crisis rather than alleviating it. Now Harris wants to dictate prices to hide inflation.