Businessman Exposes Those Against Trump’s Plan For Economy

Businessman Howard Lutnick stated on Monday that the group of economists publicly opposing Republican nominee Donald Trump’s economic policies is engaging in politics.

Sixteen Nobel Prize-winning economists signed a letter in June claiming that Trump’s economic policies would exacerbate inflation and inflict long-term damage on the global economy.

Lutnick likened this letter to one signed by 51 intelligence officials in October 2020, which had previously cast doubt on the authenticity of Hunter Biden’s laptop during a segment on CNBC’s “Squawk Box.”

“I think it’s just partisan politics, it’s amazing,” Lutnick said. “It’s like, you remember the 51 intelligence officers who said the Biden laptop was Russian disinformation, and it was just like, Hunter Biden’s laptop, which the FBI must have known in like, what, 10 seconds they knew it was real? So, it’s like saying 15 Nobel laureates, including Janet Yellen’s husband, signs a piece of paper saying, ‘This economics is better than the other.’ It’s just partisan nonsense.”

Some of the economists have consistently supported and contributed to President Joe Biden’s 2020 campaign, according to Fox News. Economist Joseph Stiglitz, who led the letter, reportedly donated $1,250 to the Biden Victory Fund in 2020 and endorsed the president’s Build Back Better agenda.

Georgetown University Professor George A. Akerlof, another signatory, is married to Treasury Secretary Janet Yellen and donated $25,000 to the Biden Victory Fund in 2020, as reported by Fox News.

Harvard University economist and historian Claudia Goldin donated $500 to the Biden campaign in both 2020 and 2024, while economist and mathematician Eric Maskin contributed $3,000 to Democrats in recent years.

Billionaire businessman Howard Lutnick said economists disapproving of Trump's economic policies is "partisan nonsense" pic.twitter.com/Pa49l3dcWQ

— Daily Caller (@DailyCaller) September 16, 2024

Lutnick stated that the most effective way to combat inflation is to reduce energy costs and halt the Federal Reserve from printing money. He also argued that the passage of the American Rescue Plan by President Joe Biden’s administration, along with rising energy costs, has contributed to the current inflation.

“We all knew where inflation came from. It’s called the American Rescue Plan, $2 trillion of spending,” Lutnick continued. “Look, you can’t produce inflation without printing money. You don’t print money, you can’t produce inflation.”

Co-host Andrew Ross Sorkin contended that supply chain issues have also played a role in inflation and noted that the Federal Reserve printed money during the Trump administration.

Lutnick responded by asserting that the Trump administration did not print “too much” money and claimed that the Biden administration is responsible for the surge in oil prices.

“We just won’t drill on it because we don’t want to,” Lutkin said. We want to break, the Democratic Party does not want you in a fossil fuel car. They want to break the fossil fuel car, they want to break mobility. You want to break mobility? You break middle America. You can’t have electric cars operating in middle America, it doesn’t work. So that breaks the rule … So we need fossil fuels for the next 30 and 40 years.”