Top White House economic adviser Larry Kudlow spoke out on Friday to respond to Barack Obama’s tweet from earlier in the week in which the former president tried to take credit for the current economic boom.
“ years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history,” Obama tweeted on Presidents Day.
Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history. pic.twitter.com/BmdXrxUAUf
— Barack Obama (@BarackObama) February 17, 2020
Kudlow fired back by saying that while he didn’t want to “knock Obama,” he also feels that “coming off a very deep recession like that [in 2008 when Obama was elected], we shouldn’t have had 2-percent-or-less growth, which is what that administration produced. We should have had 8 [percent] or 10 percent growth.”
Kudlow went on to blame the slow growth and recovery that happened under Obama on high spending, higher tax policies, and his strict regulatory measures, according to Fox News.
“The antidote to poverty is growth. The antidote to income inequality is opportunity,” Kudlow said, pointing out that around 10 million people have come off food stamps and welfare since Trump took office.
“With all respect to President Obama, we are eclipsing him in almost every area,” he said.
Defending Trump’s efforts to bring the economy back from eight years of little growth, Kudlow said that “in the three years of the Trump recovery,” the nation has seen an increase in job growth and a decrease in unemployment:
“In just three years … we’ve created 500,000 manufacturing jobs, and that fell under Obama. Blue-collar workers are in a boom, the bottom half [of Americans] are outperforming the top half in terms of wage growth. Actually, the bottom quarter of the workforce, their wages are growing at about 4.5 percent. … The top quarter is only at about 3 percent.
“We’ve had lower unemployment across the board in every minority group … blue-collar, white-collar, women, millennials. Inequality, because of this boom in blue-collar wages, is narrowed. So you have more growth, lower unemployment, less inequality and … there’s a women’s boom going on here.”
Obama can try and take credit for the economic boom as much as he wants to, but nobody is buying it. We all remember that the economy was not a priority for him at all, which is why it suffered so much under his leadership.
In contrast, Trump has made boosting the economy a cornerstone of his presidency. We can only imagine how much better the economy will get when Trump is in office for another four years!