Kennedy blasts Biden's massive spending plans: Moving toward the 'China model of capitalism'
Fox News
Republican Louisiana Sen. John Kennedy told "America's Newsroom" on Thursday that the Biden administration's infrastructure plan is a "bold-neo socialist experiment" that is similar to the "Chinese model of capitalism."
JOHN KENNEDY: Well, no one can accuse the Biden administration of timidity. This is a bold neo-socialist experiment. I mean, this will be over $4 trillion dollars of spending and less than 100 days. And by spending this massive amount of taxpayer money, it's clear that, to me, that the Biden administration is moving more toward the Chinese model of capitalism, where the biggest player in the economy is government. It's no longer the private sector. ... Number two, do deficits and debt matter? We're about to find out. Number three, this is going to lessen the independence of the Federal Reserve. There's no way that the Biden administration can do this without the Federal Reserve financing this kind of deficit spending. And number four, this is not an infrastructure bill. I mean, everybody's for infrastructure. Being against infrastructure is like being against golden retrievers. But this is not an infrastructure bill.More Related News