Nationally syndicated columnist and renowned American economist Peter Morici was asked point blank by Fox Business host Stuart Varney to comment on President Obama and vice-President Biden’s assessment that the Obama economy is doing great, Morici responded that the two must be “smoking dope.”
“After the worst recession in 80 years, we’ve fought our way back,” Obama told the DNC. “We’ve seen deficits come down, 401(k)s recover, an auto industry set new records, unemployment reach eight-year lows, and our businesses create 15 million new jobs.”
Varney’s face when Morici says “they’re smoking dope, that’s absolutely absurd is priceless.
“First of all, Ronald Reagan had a deeper recession but let’s put that aside,” Morici said.
“The middle class is shrinking, wages are stagnant and look at the social indicators,” he explained. “Suicides are up, drug abuse is up. Home ownership is at a 48-year low. And the middle class is absolutely dissolving!”
Morici added, “This is basically the party of the aristocracy of college professors who sit around all day and dream up ways to raise taxes.”
The economist recently wrote a column where he defended and promoted Trumponomics, saying the Republican presidential nominee’s plan “better aligns the party with contemporary economic and political realities.”