Former Trump Administration Economist Says He's 'Horrified' By Kamala Harris's 'Chilling' Economic Proposals And Warns They'll Backfire

Kamala Harris' recent economic proposals aim to tackle key issues like housing affordability and health care, but they've sparked significant debate. While some see the Vice President's plans as bold steps toward addressing long-standing problems, others, including former Trump administration economist Kevin Hassett, have raised serious concerns.

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Hassett, who served as chair of the Council of Economic Advisers, voiced strong opposition during a recent Fox Business interview. He called Harris' proposals "chilling" and likened them to "communism plain and simple." He expressed alarm at the potential impact of these policies, particularly the idea of government-controlled pricing.

"Honestly, I was horrified. This is incredibly chilling," Hassett remarked. "She comes out with the craziest, silliest economic proposals in presidential politics." He criticized Harris' support for Medicare for All and job guarantees, suggesting these policies significantly depart from market-driven economics.

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Hassett warned that Harris' approach could lead to consequences seen in other nations that have implemented similar controls. "When the government starts setting food prices, that's when people start having famines because the people who produce food can't afford to do so," he explained, arguing that these ideas, if implemented, could lead to shortages and economic instability.

The discussion also touched on Harris' housing plans, including a proposal to subsidize the construction of three million homes and provide $25,000 to first-time homebuyers. Critics argue that such measures might worsen inflation rather than solve it. Investor David Bahnsen pointed out, "Giving people $25,000 to buy a home does not make a home price cheaper; it makes a home cost $25,000 more."

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The broader conversation included critiquing the Biden-Harris administration's overall economic strategy. Former President Donald Trump commented on the potential pitfalls of Harris' approach, comparing it to the failed policies of countries like Venezuela and the Soviet Union. He warned that such policies could lead to shortages, black markets, and rising inflation.

Ned Ryan, CEO of American Majority, also voiced concerns, linking the administration's economic policies to inflation. "Their response to this is, ‘We caused inflation, we're going to try and fix inflation with more things that caused inflation,'" Ryan said, criticizing the administration for what he sees as a flawed approach.

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On the other hand, others credit Harris for taking a stand. CNN political commentator Van Jones praised Vice President Harris's newly unveiled economic agenda, expressing his relief that a Democrat is "boldly" addressing price gouging. "Thank goodness we're finally hearing from a Democrat aggressively on price gouging," he explained. "She knows that Americans are getting ripped off, and she wants to do something about it."

As the nation prepares for the 2024 election, Harris's economic proposals will likely remain a key issue, drawing sharp contrasts between the visions offered by different political leaders. 

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