‘Five of the 7.5 Trillion Were Passed Under Donald Trump’: Obama Adviser Hits Back at Trump Adviser on Stimulus Spending

Austan Goolsbee and Stephen Moore clashed about inflation during a Fox News segment on Monday. At one point, the former reminded the latter that most of the pandemic stimulus spending was approved by former President Donald Trump.

Inflation is currently at a four-decade high and has been top of mind for many Americans grappling with higher prices. Republicans have seized on it as a campaign issue for the midterm elections.

Fox News anchor Martha MacCallum welcomed her guests and cited a poll indicating that 63% of Americans say President Joe Biden isn’t focusing on issues they care about, which includes inflation.

“When the inflation rate is high, it’s going to be reflected in the polls,” she said. “You see that in Europe, too. I mean, they’re having massive strikes and protests about the cost of living and inflation in France, in the U.K., in Germany –”

“Is that supposed to make Americans feel better though, Austan?” MacCallum interjected.

“It doesn’t make them feel better,” responded Goolsbee, the former chair of the National Council of Economic Advisers under Barack Obama. “It only informs – is it because of some policy that is happening in the United States that there is inflation? But in the end, it doesn’t make any difference. You can see in the polls people are upset because inflation is high.”

Moore, who advised Trump’s 2016 campaign, boasted that inflation was low while Trump was in office.

“When Trump was president for four years, the average inflation rate was two percent,” Moore said. “When he left office, the inflation rate was one and a half percent. The Congressional Budget Office said that we’d have inflation of maybe three or four percent. We’re at eight and a half percent. So, how did that happen, Martha? My explanation is that we spent and borrowed and printed $4 trillion through all of these massive spending bills. And Republicans – to their credit – are for the most part opposed these.”

Goolsbee pointed out that most of the spending Moore was referencing was passed under Trump.

“Five of the $7.5 trillion were passed under Donald Trump,” he said. “So how do you reconcile that?”

“I was opposed to most of those spending bills,” Moore answered. “But you’re right. Republicans are not blameless here, Martha. Austan is right here. The politicians of both parties have spent too much money. But when are we going to do something about it? As we speak, the president is trying to move forward with a $500 billion bailout of student loans. I mean, it just never ends.”

Watch above via Fox News.