Steve Moore, at a breakfast speech this morning at Freedom Fest, pointed toward Heartland Senior Fellow Peter Ferrara several times to help make his points about the economy. And later, Peter was on “The Real Estate Guys” radio show to talk about his new book, “America’s Ticking Bankruptcy Bomb.”
Here are some notes I took shortly after Steve Moore’s address:
In his speech, insisted that the GOP must not cave on this. And he predicts they will not. The Aug. 2 “deadline,” he said, is completely arbitrary (just like the last ones). The Republicans have to do a better job explaining that the debt limit means the government can’t borrow anymore. But it can still spend. And if Obama doesn’t send out SS checks to grandma, it’s by HIS choice.
An audience member commented in asking a question of Steve that the government needs to trade in its credit card for a debit card. Steve liked that analogy. It would be a good talking point, I think, for the sensible argument in this debate. People can understand that point very well.
Steve said this is a historic moment for the U.S. If fiscal conservatives don’t take a stand here and now, this country is in big trouble. They will likely never have more leverage, or a public more attuned to the issue.
Another audience member asked Steve why fiscal conservatives don’t make the point more often that policies Obama embraces, especially monetizing the debt, cause inflation — which hurts the poor the most. Good point, obviously. Sharp cookies, these Freedom Fest attendees.