A former White House economist has raised concerns over Vice President Kamala Harris’ economic agenda, echoing former President Donald Trump’s warning that the U.S. could face a “1929-style depression” if Harris were to assume the presidency.
An economic adviser during the Trump administration, Kevin Hassett, expressed scepticism about Harris’ proposed policies during an appearance on “The Big Money Show” on Thursday.
He particularly highlighted Harris’ past support for the Green New Deal, a comprehensive climate change initiative that aims to achieve carbon neutrality by 2030. Hassett argued that such a goal is nearly impossible and could lead to severe economic repercussions.
“Carbon-neutral by 2030 is almost impossible. Seventy-five per cent of our electricity comes from burning fossil fuels. So how are they going to do that if they try it? That you’re just going to have to shut down the economy?” Hassett questioned.
As a senator in 2019, Harris co-sponsored the Green New Deal, which includes proposals like banning fracking to combat climate change.
However, since becoming the Democratic nominee, Harris has appeared to soften her stance on a nationwide fracking ban. Despite her campaign’s statement last month that she does not support a total ban on fracking, Hassett suggested that her previous statements indicate otherwise.
“If you look at all the things that she says that she supports, like a guaranteed job for everybody – she’s opposed to fracking. Looking at how the campaign pulled that back, they said she’s not opposed to all fracking. In other words, yes, she’s opposed to fracking,” Hassett added.
In her first major policy speech as a 2024 candidate, Harris highlighted the strength of the U.S. economy while emphasizing the need to reduce food and housing costs for Americans.
During her 2019 presidential campaign, Harris advocated for several progressive economic policies, including a $3 trillion tax plan targeting the wealthy, raising the federal minimum wage, and implementing a Medicare for All healthcare system.
Hassett suggested that Harris might reconsider some of her more progressive stances as she gears up for the 2024 election. “She’s got a whole bunch of things that she’s advocated in the past which collectively would do exactly what [Trump’s] saying. I guess the question is if she’s backing away from that,” he said. “She’s recruited a bunch of advisers advising previous presidents like Gene Sperling. So maybe she will try to run to the middle on policy in the election.”
