Radio pitchman, financial seminar host and beneficiary of bankruptcy law Dave Ramsey stated on Fox News Thursday morning that the stimulus package proposed by President Biden and Democrats will not provide any economic stability or growth, claiming that if someone is reliant on a $600 or $1,400 stimulus check, they’re “screwed already.”

https://youtu.be/XBVJM7yo2Fk

Ramsey makes a number of dubious claims about how economic stimulus works, including saying that forgiving student loans would not stimulate the economy because “that assumes people were going to pay them off this year,” ignoring that loan forgiveness would give people hundreds of dollars more per month to spend.

“That’s economic hogwash,” Ramsey claims.  “It’s smoke and mirrors.  It’s simply not going to happen.”

Fox News host Bill Hemmer encourages that line of thinking, claiming that “There’s a moral hazard, doing this.  You signed a financial contract.  You have an obligation to pay that money back.”

“Oh, absolutely,” Ramsey concurs without an ounce of self-awareness.

Ramsey, who filed bankruptcy early in his business life because he could not repay a bank call of $1.2 million in loans, does not have a degree in economics.  He’s made money pitching real estate investment packages.

Carrying on, Ramsey said, “I don’t believe in a stimulus check, because if $600 or $1,400 changes your life, you were pretty much screwed already.  You got other issues going on.”

While that sounds good, Ramsey displays a lack of understanding about what economic stimulus is meant to do.  And while a small amount of money may help people stave off eviction or hunger or help them pay for medications, it makes no sense to say that a stimulus would not help people.