UPDATED 10:45 AM PT – Sunday, January 3, 2021
Economic Adviser Stephen Moore questions the need for a stimulus bill heading into 2021.
In an interview on Sunday, Moore said he’s not so sure the country needs a “massive stimulus bill.” He referenced estimates that suggest the economy will get better without government spending.
Moore emphasized there should be a focus on distributing the vaccine and getting businesses back open. In October, he argued the best stimulus for the economy would be to cut income tax for a year.
“Giving people $2,000 [of] ‘magic money’ out of Washington,” Moore said. “I call it helicopter money–we filled up helicopters with $100 bills and dropped them out of the window–that’s not a way to get an economy back to life.”
His comments came as the U.S. Department of Labor reported unemployment claims dropped below 800,000 for the first time in a month.