Larry Kudlow has been one of the smartest guys in Washington for some time. His knowledge of free market economics is vast and his ability to communicate it is impressive. He makes two points below. One, Biden’s class war crack is an old line. It didn’t work then and won’t work now. Two, there are still a couple of sane Democrats.
FNC: “Top GOP House leaders and 160 lawmakers called on President Biden Wednesday to fix the U.S. ‘supply chain crisis’ or face a doomed holiday season. Larry Kudlow, the Fox Business host and former economic adviser to President Trump, joined ‘The Ingraham Angle’ on Wednesday night to discuss the issue.”
Minority Leader, Kevin McCarthy
…Comparison of Biden Admin To Jimmy Carter’s Admin is an actual insult to Carter … He’s right pic.twitter.com/bIaEJwVrhD
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Kudlow: “Part of that is…there are no cars to buy. So consumer spending looks very weak. It’s really not, but there’s no cars to buy because of these container backups… because they all have semiconductors that these cars need. So you can’t produce them, and they’re not in the showrooms. The second point is the inflation bulge. Whether it’s temporary or permanent, it doesn’t matter…it is. It exists today and we’re only making it worse by creating this economic scarcity… this environment of scarcity. You know, those people in the Washington Post who are writing this stuff, ‘Hey, listen, only wealthy people…have patience, you don’t really need all these consumer goods,’ that is vintage Jimmy Carter.”
He recently also had kind words for Democrat Senators Joe Manchin and Krysten Sinema. “A month or two ago I would have said they can jam it through, but it’s not happening. And Manchin and Sinema are doing a good job. I kind of like those two. Manchin doesn’t want to spend and Sinema doesn’t want a tax, so they make a lovely couple, really, and they’re holding the fort nicely. Now, I don’t want to spend any more money, OK? I don’t care whether it’s a trillion five or a trillion, I don’t want to spend any more money. But I give them credit and I give Manchin credit very importantly for two things. Number one, this clean electricity emergency stuff performance. He’s taking that out because he’s from West Virginia. That would have been carbon-free electric grids by 2035, which wreck this country if we ever did anything near like that. And number two, he insists on existing and future entitlements, that they be means-tested and they have workfare. These are important principles. And as Rand Paul just said, this is much more important than the top-line numbers, which will be phonied up and gimmicked because they’ll try to spend in three to five years what they’d love to spend in 10 and will make it permanent. What matters is the policy content on social welfare, on entitlements, on Green New Deal.”