Peter Schiff challenged President Donald Trump on Saturday to a debate on the U.S. economy and inflation, after Trump called the economist a “loser” and a “jerk” on social media.
Schiff Vs. Trump
In an X post, Schiff responded to Trump’s criticism of his views on the rising cost of living in the U.S.
“Trump claims I hate him because I told the truth about inflation. He's clearly not aware of all the times I endorsed his re-election or defended him against unfair criticism and lawfare while Biden was president,” Schiff said.
Schiff defended his stance, stating that both Trump and former President Joe Biden have contributed to the ongoing “affordability crisis” and, rather than fixing it, Trump is making the problem “worse” in his second term.
Schiff challenged Trump, or any of his designees, to a debate on the U.S. economy and his policies, adding, “If I’m as wrong as he says I am, let him prove it.”
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Trump Defends Economic Policies
Schiff’s remarks come after Trump called him a “Trump-hating loser” who has already “proven to be wrong” and criticized Fox News for giving him a platform.
“He thinks prices are going up when, in fact, they are coming substantially down,” Trump said via his Truth Social account. “Check out the ‘booker’ who put this jerk on!”
Notably, Moody’s Analytics Chief Economist Mark Zandi warned that a “serious affordability crisis” was emerging in the U.S., blaming Trump’s tariffs and tight immigration policies for “juicing” inflation.
The middle-class milestone lifetime bill has crossed $5 million, according to a Visual Capitalist report last month, with healthcare, housing, and education being impacted.
Economist Justin Wolfers said that Trump's "original sin" was telling voters that prices would fall on his campaign trail, even though "in a healthy economy, they almost never do.”
Meanwhile, economic data released on Friday showed the Fed’s preferred inflation gauge, the Personal Consumption Expenditure price index, eased slightly in September, while consumer spending rose in line with forecasts.
Schiff’s Views On Trump
Schiff has been a vocal critic of Trump’s economic policies in the past. He previously slammed Trump’s proposal for a $2,000-per-person tariff dividend, arguing that it would lead to an increased trade deficit.
In addition, Schiff has taken issue with Trump’s involvement in the cryptocurrency space, calling out a private gala dinner invitation to top holders of the Official Trump (CRYPTO: TRUMP) meme coin as a form of corruption.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
