Staff Reports
Joe Kernen, co-host of CNBC’s “Squawk Box,” recently had quite the showdown with Gina Raimondo, the Commerce Secretary and an unwavering supporter of Vice President Kamala Harris. During a segment, Raimondo took aim at Donald Trump’s economic policies, offering a series of questionable statements about tariffs and inflation that would make any conservative’s head spin. Kernen, however, wasn’t having it. He was quick to remind viewers that the Trump era was marked by robust economic growth and low unemployment, unlike the narrative pushed by Raimondo and her ilk.
Raimondo’s assertions centered around Trump’s plan for tariffs, claiming he aimed to impose them on all imports if re-elected. According to her, this would create an economic nightmare. Yet, this line of attack overlooks the successful context of Trump’s tariffs, which were designed to implement reciprocal trade practices. When other countries slapped tariffs on American goods, Trump’s administration responded in kind. It’s baffling that Raimondo seemed to forget how Trump’s tariffs on China didn’t just raise prices, but actually led to lower inflation rates during his presidency, hitting just 1.2 percent in 2020, a number that’s looking more like fairy tale magic under the current administration.
Kernen highlighted some undeniable facts: Trump’s tariffs were continued by the Biden administration without a hitch, and there was no recession to be found during that period. Real wages were on the rise, the stock market was thriving, and unemployment reached record lows before the pandemic threw a wrench in the works. Yet here was Raimondo, painting Trump as some sort of economic boogeyman. Kernen’s defense could be summed up in one phrase: the evidence of Trump’s successful economic blueprint is right there in the numbers.
Raimondo tried to pivot the conversation, asserting that the Biden-Harris administration has fostered a manufacturing renaissance. While this statement may have a grain of truth, it ignores the fact that the groundwork for this resurgence was laid during Trump’s presidency. Thanks to the pro-growth tax policies that Trump and the Republican Congress enacted, the economy was already primed for success. The Biden administration, despite its vocal enthusiasm, has been unable to dismantle these achievements entirely, thanks in no small part to moderate Democrats blocking their reckless proposals.
CNBC Host Torches Biden-Harris Official Over False Claims About Trump Economy https://t.co/tTnvvymSOT
— ✞🌸TrumpGirlOnFire 🔥 (@TrumpGirlOnFire) October 1, 2024
Despite her attempts to reframe the narrative, Kernen unleashed a dose of reality regarding wage trends under Biden. It has been well-documented that real wages have been in decline because of the disastrous inflation that has plagued these last few years. Raimondo’s repeated claim that unemployment skyrocketed upon Biden taking office was nothing more than political theater. The truth is that when Trump exited stage left in January 2021, the unemployment rate was on the way down from pandemic highs, and the economy was inching toward a solid recovery, a stark contrast to the fear-mongering narrative from the left.
Finally, in the midst of Raimondo’s claims that deficits soared under Trump, Kernen deftly countered with facts. Yes, deficits surged in 2020 due to pandemic-related spending, but those spending measures were generally bipartisan. Under the Biden administration, however, deficits have continued to climb at an alarming pace, especially with the introduction of new spending initiatives. The Congressional Budget Office has painted a grim picture of the fiscal horizon, projecting a deficit of approximately $2 trillion. It’s clear: while the Biden-Harris administration might be quick to point fingers, the evidence shows that the economy enjoyed its best years under Trump before the pandemic hit, and the ongoing economic struggles are a direct result of their policies.
