Shepard Smith to Chris Wallace: What Happened to Conservatives’ Complaints About Deficits and Spending?
Fox News’ Shepard Smith knocked Republicans today by asking what happened to concerns on the right about deficits and spending.
Smith was talking about the economic news following the August jobs report, saying, “Economists say the hiring slowdown may be due, at least in part, to Trump’s escalating trade war in China.”
Chris Wallace noted a drop in consumer confidence and the “uncertainty about the strength of the economy” (something the president dismissed earlier).
“There is some concern,” Wallace continued. “Not necessarily that we’re headed for a recession but that between a slowdown in global growth and the continued uncertainty over what’s going to happen in the trade dispute between the U.S. and China about where this economy is going, and if there’s one thing markets don’t like, businesses that are considering hiring or capital expenditures, it’s uncertainty.”
“There was a time, really not that long ago, Chris, when conservatives were always very concerned about deficits and deficit spending,” Smith said. “Do you have a sense beyond presidential politics why we’re not really hearing that from conservatives as much right now? Because the deficit is quite large.”
He said the deficit will be close to a trillion this year and projected to be over a trillion “for the rest of the 2020s”:
“This has really been going on for some time. You go back to George W. Bush and he was a big spender, a big government Republican. You see that now with Donald Trump. The economic benefits of the trade cut in 2017 have begin to diminish… There’s a big increase in spending. They just passed a spending bill to get them past the 2020 election. They’ve basically done away with sequestration with all those spending caps. So there’s kind of an unholy conspiracy, if you will, by the Democrats, who have been big spenders for a while, and now Republicans, that deficits and debt don’t really matter.”
You can watch above, via Fox News.
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