Billionaire Mark Cuban appeared on NewsNation’s preelection city corridor Wednesday to argue that electing Democratic presidential nominee Kamala Harris can be higher for the economic system than one other time period beneath GOP nominee Donald Trump.
Cuban’s cachet as a profitable entrepreneur has made him an vital ally to the Harris marketing campaign and an efficient foil to Tesla CEO Elon Musk, who has been stumping for Trump and utilizing shady practices to drum up votes.
The city corridor was moderated by former CNN anchor Andrew Cuomo, disgraced Fox Information star Invoice O’Reilly, and sports activities journalist Stephen A. Smith. Smith requested Cuban to reply to Trump’s claims that he created a fantastic economic system throughout his administration whereas Harris lacks a monitor document (but in some way managed to break the economic system whereas serving as vice chairman).
“You need to take a look at the basis of inflation. I am going to inform you precisely when the very first kernel of inflation was set. And that was in April of 2020,” Cuban stated. “The gas prices were $1.87. The oil companies went to Donald Trump and said, ‘We are getting crushed with gas prices at $1.87. Please go to Saudi Arabia and your friend MBS [Prime Minister of Saudi Arabia Mohammed bin Salman Al Saud], please go to Russia and your friend Vladimir Putin and ask them to reduce production.’”
“So he had a choice to make: Does he help his oil company cronies or does he help keep gas prices low?” Cuban continued. “You already know what he did. He went to support his oil company cronies, went to MBS and Putin and said, please reduce production. That was the day inflation started. And you can track—minute by minute, hour by hour, month by month, year by year, quarter by quarter,” Cuban defined, saying that the fuel costs and inflation charges solely started happening when that deal led to 2022.
“So you possibly can take all you need and blame it on the Biden administration. However it began with Donald Trump.”
Cuban isn’t mendacity. In April 2020, Trump publicly known as on Saudi Arabia and Russia to chop again on their oil manufacturing as a result of it was hurting the U.S. oil business, which represents a few of his largest donors. Later that month, Reuters reported that Trump threatened to chop navy help to Saudi Arabia if it did not scale back manufacturing and assist out his oil tycoon buddies.
Since June 2022, as Cuban identified, fuel costs have dropped from nationwide averages of above $5 per gallon to only over $3. Naturally, this hasn’t stopped Trump from mendacity and complaining concerning the economic system beneath President Joe Biden.
The truth is that the Biden-Harris administration has been capable of clear up a whole lot of the Trump administration’s swampy mess, and whereas Harris continues to supply up coverage concepts to additional ease the monetary burdens People face, Trump has solely provided up poorly conceived tariff plans that the majority economists—and even Trump’s richest backer—say can be ruinous for anybody not making hundreds of thousands of {dollars}.
