Pete Buttigieg scorches Trump administration for placing capitalism over democracy: ‘Capitalism has let a lot of people down’
Mayor Pete Buttigieg -- CNN screenshot

During a long and revealing interview on CNN on Tuesday morning, Democratic presidential contender Pete Buttigieg alternately defended capitalism in the U.S., while saying it used in a manner that that locks a lot of people out from improving their lives.

Speaking with "New Day" fill-in hosts Poppy Harlow and John Avlon, the South Bend mayor was pressed on on the socialism vs. capitalism debate that has become a bone of contention within the Democratic Party.

"I think the reason we're having this argument over socialism and capitalism is that capitalism has let a lot of people down," the mayor explained. "I guess what I'm out there to say is it doesn't have to be so."

"I believe in democratic capitalism, the democratic part is extremely important<" he continued. "There was this assumption that capitalism and democracy were almost the same thing -- if you were for capitalism, you were also for democracy. Right now, we see democracy and capitalism coming into contention."

Buttigieg then brought one of President Donald Trump's advisors into the fray.

"It was alarming to hear recently one of the president's economic advisers [Fed nominee Stephen Moore] said between capitalism and democracy, he'd choose capitalism," he explained. "I'd say the reverse ought to be true; we prioritize democracy. Having the framework of a rule of law, fairness, is what it takes for markets to work."

Watch the video below: