Former trade adviser for the Trump administration Peter Navarro told Newsmax that House Speaker Kevin McCarthy, R-Calif, submitted without protest to President Joe Biden in this weekend's debt limit negotiations.
Speaking to host Carl Higbie on the Memorial Day airing of "Eric Bolling The Balance," Navarro says in McCarthy's negotiation with Biden, "he got basically nothing."
"He took the first off-ramp. I thought it was both stupid of the way he was handled by Biden and cowardly." Navarro goes on to explain that the next negotiation for the debt limit will be pushed past 2024, leaving the next president saddled with the burden of the former. "So the Democrats aren't even going to be held responsible for their fiscal responsibility," Navarro adds.
The trade adviser then explained that "two things" contributing to the current inflation levels — "both of them induced by Joe Biden" — are the axing of the fossil fuel industry, which Biden made a proclamation on during his first days in office, and the "three mega trillion-dollar spending bills that Biden and the Democrat-controlled Congress passed."
"It's irresponsible spending in of itself, but it's just too much money chasing too few goods driving the inflation."
Despite Navarro's protest of McCarthy, the weekend headlines of the negotiations were hailed as a bipartisan success.
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