
[ad_1]
Fox Business host Larry Kudlow explains the president’s economic policies on ‘Kudlow.
Special thanks to my great friends David Asman and Brian Breinberg for helping me when I got a much needed vacation. They were wonderful. So, Joe Biden, leaving his seaside Delaware mansion, is heading north to Philadelphia for a rare public campaign appearance on Labor Day.
Well, good for him. Except what he said. Oh God. With the utmost respect, and of course I don’t mean any personal attack, but once again our current President is incapable of telling the truth about the economy.
Absolutely unable! Repeating lines that he knows are not true. Of course, his brag about reducing the $1.7 trillion deficit will always be my favorite. It’s awarded to Bottomless Pinocchio by a Washington Post fact-checker who, by the way, has a huge liberal bias. Despite Glenn Kessler’s prejudice, this is one bottomless Pinocchio.
There is no reduction in the $1.7 trillion deficit. Not now, not tomorrow, not tomorrow under Mr. Biden. In fact, the fiscal year 2023 deficit this year will exceed $2 trillion, and none of that includes the reappraisal of the poorly-named “Inflation Reduction Act,” which Team Biden ultimately envisions as a climate subsidy bill and which pen- The Wharton model and others are now scoring over a trillion dollars. The original amount was around $250 billion. go figure!
President Joe Biden speaks during an event in the East Room of the White House on Tuesday, July 25, 2023, in Washington, DC, US. (Getty Images)
United Airlines lifts nationwide ground stop after equipment failure
Of course, President Biden, a self-styled devotee of constitutional democracy, refuses to abide by the Supreme Court’s ruling that prohibits canceling student loans by executive order. Perhaps someone should think about a lawsuit in connection with a Biden-esque rebellion. Just kidding
During this, chairman As usual he attacked his predecessor for not creating any jobs or new buildings. Hear it yourself:
Joe Biden: “Guess what? The great real-estate builder, the last guy here, he didn’t make a big deal. The guy who held that position before me was one of only two presidents in history… He compared America I left office with fewer jobs than when he was elected. When the last man was here, you were sending jobs to China. Now we are bringing jobs home from China. When the last man was here, your pension was at risk We helped save millions of pensions with your help.”
Well, Mr. Trump actually created massive tax-deduction incentives for large amounts of new plant, equipment, and machinery. He also built a wall to protect the US border with Mexico and of course, Mr. Biden will not complete the wall and leave millions of dollars worth of equipment to rust because of his open border policy, but I digress I have been
During the first 30 months of their respective presidencies, Mr. Trump created 2.8 million more net new jobs than Mr. Biden, when properly adjusting for COVID returns. It includes more than 250 thousand in the manufacturing sector. These are facts. Well, on the job front, the last two job reports saw a decline twice. If you ask me, with the inverted yield curve, collapsing money supply, and what I estimate to be 16 consecutive months of declines in the Index of Leading Indicators, I believe the risk of a recession is still very significant. I’d say about 65% over the next 12 months.
Then, Mr. Biden argues that he is getting people to pay their fair share in taxes. Of course, most of Trump’s tax cuts remain in place – the only pro-growth element of the economy, but mr biden Insist that the more than a thousand billionaires in America pay only 8% in federal taxes. I particularly like this one, because it’s a non-existent estate tax calculation by White House staffers on unrealized capital gains.
Senator Tommy Tuberville, R-Al., explains where US funding for Ukraine’s war effort is going to ‘Kudlow’.
There’s no such tax, so I don’t know what Biden is talking about, but that’s okay, because he keeps talking about big corporations starting to give their fair share, which I think my dear friend, Reminds me of the late Congressman Jack Kemp, who always used to say that “the problem with Democrats is they like jobs, they just don’t like businesses that create jobs.”
How we all miss Jack Kemp. I don’t know the rest of Mr. Biden’s speech to labor unions in Philadelphia, but I’m sure he talked about how he inherited a creaking economy with high inflation, and forgot inconvenient facts. Went to see how the economy was in early 2021. Growing at 6.5% on an inflation rate of only 1.5%, which brings me to my final observation.
According to a recent Wall Street Journal poll, voters give Mr. Biden very low marks for his handling of the economy, but voters give former President Donald Trump very high marks for his record of accomplishments as president.
Click here to get the Fox News app
Kevin O’Leary of O’Leary Ventures reacts to the looming crisis for small businesses on ‘Kudlow’.
Interestingly, by an 8-point margin more voters said Trump, not Biden, had a vision for the future. In a recent white paper, Mr. Trump talks about unleashing prosperity by expanding Trump tax cutRejecting every new Biden regulation that harms workers, opening the tap for what he calls “liquid gold,” and invoking the Trump Reciprocal Trade Act to protect workers and manufacturers.
The former president is the only candidate in either party with a clear economic agenda for a second term. This is why he has a huge polling lead for the GOP nomination and many of the same polls show him beating President Biden.
This article is adapted from Larry Kudlow’s opening comment on the September 5, 2023 edition of “Kudlow”.
Source: www.foxbusiness.com
[ad_2]