DEWEY BEACH, Del.—Stephen Moore, the senior economist at FreedomWorks and former senior economic adviser to President Donald Trump, gave a half-hour keynote speech at the Freedom Festival Banquet held at the Rusty Rudder restaurant on Oct. 7. The event was organized by the Delaware Republican Party. During his speech, Moore listed seven ways in which he believes the United States is being destroyed.
‘The First Thing You Would Do Is You Would Destroy Its Finances’
“You borrow and spend like crazy until the country was on the verge of bankruptcy. President Joe Biden has done that. In 20 months, this president has spent $4.2 trillion. Now, these numbers are incomprehensibly large.‘The Second Thing You Do Is Destroy Its Currency’
“Its currency is its means of exchange. Countries that go down the drain have currencies that become valueless. They debase the currency. Inflation is just a way of devaluing the currency. And that’s exactly what’s happened. So we’ve seen in 20 or so months, while Joe Biden has been president, prices have risen by about 16 percent in just 20 months. And what’s happening is people’s wages and salaries are falling way behind inflation.“We just got the new numbers today on what happened with wages and salaries. The good news for American workers is that people’s wages and salaries over the last year were up 4.9 percent. That’s pretty good. You know what the Consumer Price Index number was over that same period? 8.4 percent. So what’s happened every single month that Joe Biden has been president? Americans are getting poorer. We are getting poorer month after month after month.”
‘Third, You Would Destroy Its Energy Supply’
“You take away its energy. Because energy is the master of the universe. If you don’t have energy, you can’t do anything.“And so one of the things I remember the first time I talked to Donald Trump, when I met him in late 2015, when he was running for president, I said, ‘If you get this right with American energy, the United States can be the energy-independent country for the first time in our lifetimes.’ I'll never forget what Trump said: ‘Steve, I don’t want energy independence, I want America to be energy dominant!’
“In four years under Trump, by the time he left office, we were the number-one producer of oil and gas in the world. So, basically, what Trump did ... he was in for all of our resources. He said, ‘Let’s produce coal, let’s produce oil, let’s produce gas. Let’s build nuclear plants in this country.’
‘The Fourth Thing You Would Do Is You Would Provide Money to Your Enemies’
“The bad energy policy that says we’re going to go from 70 percent fossil fuels to zero over the next 13 years—who benefits from that? China, Russia, Iran, and Venezuela.“Biden says we shouldn’t get our energy from Texas. We shouldn’t get our energy from Alaska. We shouldn’t get our energy and oil and gas from North Dakota. Let’s get it from Iran and Venezuela and Russia.”
‘The Fifth Thing You Would Do Is You Would Divide the Nation’
“You would divide it: you would pit groups against each other. Isn’t that exactly what Biden has done? It’s black versus white. It’s Hispanic versus white, versus black. It’s dividing people by income classes. It’s dividing people by their gender. All of these things are divisions.”‘Sixth, You Would Destroy the Stock Market and People’s Lifetime Savings’
“If you’re living off your 401(k) plan or retirement savings, those have been depleted greatly by Biden. Not only is the stock market down 5 percent, which isn’t that much. In nominal terms, these stocks are down 5 percent since Biden came to office. But when you adjust for inflation, stocks are down by about 20 percent. That’s as huge as trillions and trillions of dollars of losses. And so we are up against a mighty foe right now. And we need to strike back now.‘Seventh, You Would Weaponize Government Agencies by Going to Imprison or Punish Your Political Enemies’
“I find that is the most frightening thing, maybe the most dangerous thing of all. Absolutely. It is so scary. I have to tell you, I’m afraid. I’m personally afraid. I’m a Trump guy. They want to come after me. I’ve got a big target on my chest. I’m nervous. One of these days, the FBI is going to knock on my door with the German shepherds and the machine guns.Moore’s Mission
At the end of his speech, Moore emphasized: “I think a red wave is coming. But this election isn’t really about electing Republicans. My mission is to find every single Democrat who did this to our country and get them the hell out of office.”He believes that 2022 is going to be a great year, and 2024 will be an even better year. Moore encourages people to run for office: “You care deeply about your country, you’re likely to run for something, run for something, even if it’s school board or local county official or something like, those people have incredible power.”
Moore cited the example of Virginia Governor Glenn Youngkin who won the governor’s race last year. Moore said that even parents who were registered Democrats were angry because “the Democrats said parents should have nothing to do with the schools.” Youngkin signed 11 executive actions, including a ban on critical race theory, and rescinded COVID-19 regulations after his inauguration.
Moore said to an Epoch Times reporter after his speech, “I really wanted to show my support not only for the Republicans but also we need to have Americans really make a loud and clear statement to the Biden administration that they disapprove of what Joe Biden has done to our country.”
Voices of Support
Rick Jensen, a WDEL Delaware radio host, introduced Steven Moore as “one of the most influential people in my world, and I share what you write with my listeners.” Jensen thanked Moore “for being so influential and saving my retirement monies by writing.”
Jensen said analysis from Moore and several other economists helped him decide to sell 80 percent of his retirement investments and stocks during the first week of 2022. He said that he was not fooled by Secretary of the Treasury Janet Yellen, who said that printing massive amounts of currency would not cause inflation.
Hylton Phillips-Page, Sussex County Republican Committee Treasurer, said, “I think we need not be afraid. And we need to be out there and challenge.”
Philips-Page said the event will energize people for the election. “It will send a message to people, quite frankly, that we are not hiding in our basements. We are out there. And we plan to take back this country.”
