Wall Street economist Mark Zandi of Moody's is a Democrat's dream

Mark Zandi of Moody's, whose biggest shareholder is leftist Warren Buffett, is frequently used to push the Democrat agenda.  Here the White House uses Zandi to promote Biden's position that he should get a clean debt ceiling increase with no restraints.  He predicts an economic disaster.

That is garbage.  The U.S will not default on its debt.  There is enough money coming into the Treasury to make the debt payments if other spending is paused.  Maybe Treasury secretary Yellen and other people should prioritize what they spend money on.

Should we breach the debt ceiling, the costs to the economy would be likely to be quickly felt. Mark Zandi, Chief Economist of Moody's Analytics, predicted that even with a brief default, a "crisis, characterized by spiking interest rates and plunging equity prices, would be ignited. Short-term funding markets, which are essential to the flow of credit that helps finance the economy's day-to-day activities, likely would shut down as well." 

If Zandi truly cared about safety and soundness of the U.S. debt over the long term, he would support some spending restraints instead of essentially unlimited spending.

According to Moody's, even a short debt limit breach could lead to a decline in real GDP, nearly 2 million lost jobs, and an increase in the unemployment rate to nearly 5 percent from its current level of 3.5 percent.

And below this paragraph is an article about Zandi when he looked as if he was campaigning to elect Hillary and destroy Trump in 2016.  He was 100% wrong on government revenues, inflation, and jobs.  The economy did extremely well under Trump's energy, trade, immigration, and tax policies.  The reason Zandi's predictions were wrong is that they were just made up instead of based on facts.  They were a campaign document, just like the fictional Russian dossier.

The Moody's Economic Report That Clinton Is Using to Attack Trump

Mr. Trump's tax and spending proposals would have a longer-term effect. With few spending cuts, his planned tax cuts, which would reduce federal revenues by roughly $9.5 trillion over a decade, according to the nonpartisan Tax Policy Center, would produce substantial budget deficits.

"That would be a pretty significant corrosive on investment, productivity and then G.D.P.," Mr. Zandi said.

The economy would also struggle to grow if Mr. Trump acted on his pledge to deport 11 million immigrants. An already-tight labor market would constrict even further, driving up labor costs.

In a world where the media cared about facts and science, instead of forcing America to be destroyed by radical leftist policies, people like Zandi, Fauci, Kerry, and Gore would be put out to pasture instead of treated like experts for all the misinformation and false predictions that they regurgitate.

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