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Even though trillions in economic support might sound helpful to many Americans at the moment, Laffer said this “huge” amount of money won’t look so appealing after a future market crash and debt spike.<\/p>\n
Laffer Associates chairman Art Laffer explains how additional coronavirus spending could damage economy.<\/p>\n
President Biden is moving forward with his $1.9 trillion coronavirus stimulus plan, but the increased spending could compromise the economy, Laffer Associates chairman Art Laffer warned on “Kudlow” Tuesday.<\/p>\n
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Laffer explained to FOX Business Network’s newest program that the administration’s rampant spending would be put to better use if it prioritized supporting health care or creating jobs.<\/p>\n
“I think this does not make sense,” he said. “Anything on health care, that makes a lot of sense … Anything for jobs creation, that would be good. But that’s [a cost of] a lot less than even a trillion dollars. That would be a small amount compared to the $2 trillion.”<\/p>\n
“I think it’s a killer of the long-run economy of the U.S.," he stated.<\/p>\n
BIDEN'S $1.9T STIMULUS WOULD GIVE ALMOST $3,600 TO POOREST AMERICANS, ANALYSIS FINDS<\/strong><\/p>\n Even though trillions in economic support might sound helpful to many Americans at the moment, Laffer said this “huge” amount of money won’t look so appealing after a future market crash and debt spike.<\/p>\n<\/p>\n