"Citing the government's increased involvement in a number of industries, Kernen asked McCormick if that policy was pushing too close to socialism systems like those seen in China. The conversation continued: KERNEN: Is anything that you've seen President Trump do, in terms of statism, is it similar to what happens in China? Is it similar to a socialist creep where the government is too involved in the means of production?"
"In his response, McCormick explained that the federal government should get involved in certain industries if national security is at risk. He specifically named steel and pharmaceuticals among then. Still, the senator cautioned that we don't want the government involved by and large. And it's the old Reagan line, McCormick continued. The scariest words you could ever hear is, I'm here from the government and I'm here to help you.' We don't need too much help."
Joe Kernen questioned whether the Trump administration's economic actions amounted to a socialist creep due to increased government involvement in various industries. Kernen asked Senator Dave McCormick whether those actions resembled China's state-driven systems. McCormick described a slippery slope when the government grows more involved in the economy. McCormick said the federal government should intervene in industries when national security is at risk, naming steel and pharmaceuticals. He cautioned against broad government control and echoed the Reagan warning that 'I'm from the government and I'm here to help you,' adding that too much help is unnecessary.
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