Staff Reports
Scott Bessent, the CEO of Key Square Group, has declared that Vice President Kamala Harris is an “economic illiterate” who poses a serious risk to the economy should she ever ascend to the presidency. His remarks come on the heels of a recent speech by Harris, in which she unveiled a series of economically ill-advised policies, complete with ambitious promises to throw blanket price controls over everything from rent to groceries in a misguided attempt to combat inflation.
Bessent criticized Harris for her mishap with terminology, mixing up “gouging” with “gauging,” which he suggests reflects her overall understanding of economic principles. This is just the icing on the cake for those who have been following her economic proposals, which largely consist of more government control and regulations wrapped up with a bow of blame directed at big business. The palpable anxiety from the left, including commentary from outlets like the Washington Post, demonstrates a growing realization that Harris’s economic approach could very well lead the country down a path of uncertainty and chaos.
Wish this was hyperbole but it’s not.
Some people been “high on their own supply” too long. Raw truth. Their shit sucks. #Trump2024Exclusive — Head of Global Investment Firm: Kamala Harris an ‘Economic Illiterate,’ Will Crash Economyhttps://t.co/UiNOhIssRK
— GoodCharlieT (@GoodCharlieT) August 19, 2024
As Bessent points out, Harris’s strategy revolves around blaming corporations for the inflation crisis rather than addressing the root causes. When inflation spiked dramatically in 2021, many recognized that the pandemic played a significant role in snarling supply chains, and the Federal Reserve’s reaction had a hand in driving prices even higher. However, Harris sidesteps the truth, opting instead to declare war on grocery stores, landlords, and pharmaceutical companies—essentially anyone who dares to charge a reasonable price amidst inflation.
Even Democrats like Michigan’s Governor Gretchen Whitmer have felt the need to step in, suggesting that Americans are “reading too much” into the specifics of Harris’s plans. This political acrobatics is meant to assuage fears, yet it lays bare the desperation within the party to shield their candidate from her disastrous messaging. Instead of leveling with voters about the consequences of their policies, the Democrats would rather double down on between-the-lines blame games.
When comparing the economic visions of Harris and former President Trump, Bessent couldn’t be clearer: the contrast could not be greater. Under Trump’s leadership, real wages grew for the bottom 50 percent of Americans, and the economy flourished. In stark opposition, the “Biden-Harris” economic policies have led to skyrocketing inflation levels not seen in 40 years, effectively wiping out the middle class through reckless spending. If the Democrats maintain control over both the Senate and the House at election time, Bessent warns that the market might face repercussions that could send shockwaves through the economy.
With Harris at the helm alongside a fully Democratic congressional trifecta, Americans can only brace themselves for what’s to come. Conversely, Bessent posits that a victory for Trump, alongside a Republican-controlled Congress, may very well herald a significant economic recovery. The contrast between liberal mismanagement and conservative stewardship couldn’t be starker.
