Economist Stephen Moore Says US Economy is Growing
Stephen Moore, an economist and an adviser to President Donald Trump, said there is no need for another stimulus because the U.S. economy is growing.
Amid the impasse of another stimulus bill, another hope seems to help millions of Americans before the election. Moore said the country does not need another $2.2. trillion stimulus package because the U.S. economy is growing, according to a published article in The Hill.
His comment came following the recent $1.8 trillion stimulus package offer of the White House was rejected. However, despite this Americans and citizens of the country should not worry because economic growth means the opening of more jobs in the country.
Stephen Moore told John Catsimatidis' radio show on WABC 770 on Sunday: "The economy really is showing signs of picking up. I don't care what the newspapers say. I see really strong numbers coming in for the third quarter... 30 percent to 35 percent growth, which shatters the all-time record for growth in one quarter."
He added that the fourth quarter will be just as strong as the third quarter. Moore also asserted that he doubts that there is a need for another stimulus package.
It can be remembered that one of the reasons also why Trump did not want to have another $3 trillion stimulus because he believes in the growth of the economy amid the pandemic.
Even though Trump does not want to provide another $3 trillion as demanded by Democratic House Speaker Nancy Pelosi, the Trump administration still tried to offer a relief package as big as $1.8 trillion. The recent package includes $1,200 stimulus checks, $1,000 dependent payments, $400 weekly unemployment benefits, and more.
Last month, Trump also urged the Democratic-dominated Congress to use the $300 billion unspent budget as stimulus checks which are more than enough for millions of Americans and other qualified individuals.
The President recently tweeted to stop the stimulus negotiation. But before the day ends, he urged Congress to pass more relief aid. His main concern is the $1,200 direct stimulus checks.
Meanwhile, Republican Senator Majority leader Mitch McConnell has already noted that a high-cost stimulus package could deter some Republicans from voting for a bill out of concern over a ballooning national deficit and reelection campaigns.
Lawmakers are still facing pressures as millions of Americans continue to hope for another relief aid. Millions of individuals have already filed for unemployed claims. The country is seen to recover this fourth quarter as businesses are expected to reopen and create more jobs.
Stephen Moore's statement that the U.S. economy's fourth quarter will be just as strong as the third quarter is a manifestation that the Trump administration is doing its best to boost the economy amid the pandemic.
Even though the unemployment in the country continues to climb, the good thing is that unemployment claims have fallen earlier this year before the pandemic began.