Archive for the ‘Larry Kudlow’ Category

It’s obvious that Joe Biden’s press availability Friday was scripted. It was so scripted that Chris Stirewalt noticed it. After Biden criticized President Trump for the comments he didn’t make in France 2 years ago, Biden launched into another attack on what Biden calls a “K-shaped recovery.” According to Biden, the Trump economy makes the rich richer while making the poor poorer.

That’s been disproven multiple times by Larry Kudlow alone but Democrats don’t care about facts. Facts aren’t stubborn things to Democrats. They’re irrelevant to today’s Democrats. The first question was posed by The Atlantic’s Edward-Isaac Dovere about The Atlantic’s article that accused President Trump of calling dead WW I soldiers suckers and losers. Dovere asked “When you hear these remarks — ‘suckers,’ ‘losers,’ recoiling from amputees, what does it tell you about President Trump’s soul and the life he leads?”

The next set-up question was asked by CNN’s MJ Lee, who asked this leading question:

I wonder if you worry that this kind of language that comes from the president of the United States can deter some Americans who are tuning into him to not wear masks.

Next was Ed O’Keefe’s two-fer:

CBS News correspondent Ed O’Keefe squeezed in two questions for Biden, the first of which asked what the former vice president thought of Trump’s supposed suggestion to voters that they should vote both by mail and in-person. The second question asked why Biden wasn’t “angrier” at Trump’s reported comments about the fallen soldiers.

Then there’s this:

ABC News correspondent Mary Bruce also questioned Biden about Trump’s attempts to discourage mail-in voting but invoked Russia’s efforts to “sow doubt” in the electoral process and whether Biden was “concerned” that such messaging may be working to disenfranchise his own supporters.

After that, Stirewalt entered the discussion:

So seldom do reporters get to ask Joe Biden questions, so seldom do reporters — this is the second time really in quite a while … and that was shamefully embarrassing,” Stirewalt told “Outnumbered Overtime”. “I mean, there were two questions in there that maybe could have been considered adversarial but that was as bad as when Trump calls on some niche pro-Trump publication to ask him how magnificent his magnificence is.”

Stirewalt singled out O’Keefe for the question about why Biden wasn’t “angrier” about Trump’s reported comments, sarcastically calling it his “favorite.” “I’m just sitting here listening thinking, ‘Don’t you want to know about his plans? Don’t you want to know about the controversy surrounding his plans? Don’t you want to know anything?'” Stirewalt exclaimed. “The closest we got to adversarial questioning was when they were asking him about whether he got his coronavirus test up his nose or whatever.”

Friday morning, the BLS (Bureau of Labor Statistics) issued the August Jobs Report. According to the report, the economy created 1,400,000 jobs in August, an astonishing report. As noteworthy as that is, the headline was that the unemployment rate dropped from 10.2% to 8.4%, the second-biggest percentage drop in history. Not a single question was asked about the jobs report or about Biden’s plan to raise taxes. That didn’t fit the media’s agenda, though, so they asked about President Trump’s soul instead.

I won’t call these gas-bags reporters or journalists. They’re Democrat propagandists. Period.

MSNBC’s Steve Rattner has a difficult responsibility today. He had the unenviable task of explaining why today’s jobs report wasn’t great news. Let’s just say that he gave it the good old college try:

Rattner said “The good news is that we added 1.4 million new jobs. The bad news is that we added fewer jobs than the previous month and way fewer jobs the month before that.” Steve Rattner isn’t an idiot, though he apparently plays one on MSNBC. Of course, the job creation numbers this month are way down from the report 2 months ago, when a record 4,800,000 jobs were created. Still, it’s the 4th largest job creation figure behind June, May and July of this year.

This article takes a similarly negative tone:

Employers added another 1.4 million jobs to the US economy in August, as the jobs recovery continued to slow.

This was in line with expectations, and down from 1.7 million jobs added in July and 4.8 million in June. Every person who can go back to work is a win for the recovery from the unprecedented jobless crisis the Covid-19 pandemic has brought on. However, America is still down 11.5 million jobs from February. This means millions of families are still in need of benefits to make ends meet while Congress continues to argue about the next stimulus package.

The needs should be met by targeting areas of need. Naturally, Nancy Pelosi insists that everything is terrible:

The August jobs report highlights the continuing urgent need for action as the economic recovery stimulated by Congress’s early and robust investments continues to slow down. More than six months into this crisis, tens of millions are still out of work, particularly in communities of color, with more than 1 million Americans having filed for pandemic and initial unemployment claims for 24 straight weeks, and millions more are facing food insecurity, unsafe schools and workplaces, and the devastating prospect of eviction and homelessness.

The needs that are urgent are shrinking. Thankfully, Joe Biden’s policies weren’t in place. If they were, we’d have a major crisis. President Trump continues to bring manufacturing companies back from other countries, which strengthens the US economy while strengthening our national security. Ms. Pelosi sees the economy pick up momentum. If she doesn’t negotiate a deal, fast, President Trump will get most of the credit. Here’s more Pelosi BS:

“Sadly, Republicans continue to demonstrate their utter contempt for the lives and livelihoods of millions of Americans who are being devastated by Republicans’ deadly inaction. The White House and Senate Republicans have made clear that they still do not comprehend the scale of this disaster or the urgent needs of our communities and the American people. House Democrats have come to the negotiating table willing to compromise, and we will continue reaching out until we achieve a fair agreement that meets the needs of all Americans.

Thank Larry Kudlow for some sunshine:

President Trump’s economic policies are making it difficult for Democrats to criticize him. The July jobs report was better than expected, creating 1,763,000 new jobs while dropping the unemployment rate to 10.2%. While this is the smallest month of job creation since the shutdown ended, it’s still a strong number. The total number of new jobs created the last 3 months is 9,300,000. That’s the largest 3-month gain in US history.

Two months of record-setting payroll growth slowed in July but was still better than Wall Street estimates even as a rise in coronavirus cases put a damper on the struggling U.S. economy. Nonfarm payrolls increased 1.763 million for the month, the Labor Department reported Friday. The unemployment rate fell to 10.2% from its previous 11.1%, also better than the estimates from economists surveyed by Dow Jones.

Meanwhile, it’s worth noting that Ms. Pelosi hasn’t issued her monthly statement on that month’s jobs report. When the June Jobs Report showed that the economy had created 4,800,000 jobs, Ms. Pelosi ignored that statistic in her statement:

The early June snapshot in the jobs report, when the economy was opening up too early, does not reflect the coronavirus spiraling out of control, forcing communities that had begun to reopen to close once again.

“Unemployment continues to be higher than any previous period since World War II. We have reached 15 straight weeks of more than 1 million Americans applying for unemployment insurance and tens of thousands of new coronavirus cases reported each day, as the critical lifelines that are helping to keep American families and communities above water expire. Economists, scientists and even the Chair of the Fed have indicated that if we don’t deliver the investments in The Heroes Act, we will end up in a worse place economically and health wise.

With negotiations hitting an impasse on a 4th ‘stimulus’ bill, what will Pelosi criticize this time? Will she criticize the fact that we didn’t create as many jobs in July as we created in June? If June’s job creation numbers were record-setting, why didn’t Ms. Pelosi mention them when we broke that new record?

Pelosi and Schumer finally issued this joint statement on the July jobs report:

The latest jobs report shows that the economic recovery spurred by the investments Congress has passed is losing steam and more investments are still urgently needed to protect the lives and livelihoods of the American people. Millions of Americans are still hurting and yet, despite this reality, President Trump and Republicans appear ready to walk away from the negotiating table to do unworkable, weak and narrow executive orders that barely scratch the surface of what is needed to defeat the virus and help struggling Americans.

We remain committed to continue negotiating and reaching a fair agreement with the Administration, but we will not go along with the meager legislative proposals that fail to address the gravity of the health and economic situation our country faces. We call upon the White House’s negotiators to join us once again at the negotiating table today to secure a bipartisan agreement to put children, families and workers first.

There’s no proof that the recovery is slowing. It’s true that job creation numbers will eventually shrink. It’s impossible to picture the economy creating 3,100,000 jobs per month indefinitely. That’s more than 12,000,000 jobs created per year.

It isn’t surprising that CNN is carrying the Democrats’ water on the $600 ‘bonus’ through the unemployment system:

This slanted AP article does its best to make Joe Biden sound like he’s the China hawk. The reality is that he’s a China wimp. Biden isn’t that bright, either, as this tape shows:

“They’re not bad folks?” That’s what Biden said right after he said that they aren’t competition for us. Had the Obama-Biden economy continued for another eight years, China’s economy would’ve been competitive with ours, if not bigger.

President Trump rebuilt the US economy, rebuilt the US military, then slapped tariffs on China for China’s unfair trade practices. This CNBC article sums things up nicely, saying “The 2020 Democratic presidential candidate slammed Trump for tariffs on Chinese goods that sparked retaliation from Beijing and pain for American farmers. Still, he called for the U.S. to ‘get tough on China’, taking a more aggressive stance than he did when he downplayed the threat China poses earlier this year.”

Biden continued:

“President Trump may think he’s being tough on China. All that he’s delivered as a consequence of that is American farmers, manufacturers and consumers losing and paying more,” Biden said during a speech outlining his foreign policy plans at the Graduate Center at the City University of New York. “His economic decision-making is so shortsighted and as shortsighted as the rest of his foreign policy.”

Actually, President Trump used billions of China tariff dollars to subsidize farmers while putting the crunch on the Chinese economy. As a result of Trump’s “shortsighted” policies, China’s economy had its worst year in 67 years. If Biden thinks that China having its toughest year economically in 67 years is proof that Trump isn’t tough enough on China, I triple-dog dare him to make that argument through Election Day.

In a statement, Trump campaign spokeswoman Kayleigh McEnany said the president “has repeatedly advocated for the American worker on the world stage by taking on unfair trade practices across the world.” She cited Trump’s replacement for NAFTA, called the United States-Mexico-Canada Agreement, his decision to leave TPP and his China policy. She argued Biden “has a history of blue collar betrayals.”

Biden talks blue collar jobs. Prior to the China virus, President Trump delivered lots of blue collar jobs. Now that we’re getting the virus behind us, President Trump is restoring those blue collar jobs. He’s got his economic team working overtime to bring US companies back from China, often companies that left during the Obama-Biden years because we had the highest corporate tax rate in the world plus the worst regulatory regime in the world.

Why would companies move back from China only to get hit with the highest corporate tax rate in the world again? The Trump economic team is already working with companies on bringing them back to the US. Larry Kudlow lays out the administration’s actions thus far in this interview:

The Trump economy was essentially white hot. The Obama-Biden economy was like a campfire that just got splashed with water. It wasn’t out but it was on life support.

After Democrat nominee Joe Biden’s faux America First announcement, Chief White House Economic Advisor Larry Kudlow shredded the Democrat’s proposal. Kudlow said “We must, we must not go back to high taxes and high regulations, we must not do that. It defies common sense after this pandemic contraction.”

Typical of Democrats’ tax policy, Biden’s plan is to make US corporations pay the highest tax rate in the world. Couple that with oppressive regulations, especially on the energy industry, and you’d set the economy back a decade or more. Right now, the US is energy independent and energy dominant. The Democrat’s regulations would essentially end fracking, send gas prices and heating prices through the roof and force us to rely on foreign supplies of energy again.

Kudlow continued shredding:

I respect them, and they have a right to do what they’re doing. But Mr. Biden’s going to be raising taxes across the board and then some. He said yesterday or the day before he wants to end something called ‘shareholder capitalism.’ We used to call that the investor class and if you buy for the long run you make a fortune for retirement. He’s opposed to that.

Biden said that he wants to bring medical supply chains home from China, which is the right thing to do. Unfortunately, he’s going about it the wrong way. He’s telling companies to return to the US but then telling them that they’ll get hit with the highest corporate taxes in the world:

This is from the Democrats’/Biden/Sanders plan:

Democrats believe there is a better way. We can and must build a thriving, equitable, and globally competitive clean energy economy that puts workers and communities first and leaves no one behind. We will help rebuild our economy from the COVID-19 pandemic and President Trump’s recession by mobilizing historic, transformative public and private investments to launch a clean energy revolution. We will use federal resources and authorities across all agencies to accelerate development of a clean energy economy and deploy proven clean energy solutions; create millions of family-supporting and union jobs; upgrade and make resilient our energy, water, wastewater, and transportation infrastructure; and develop and manufacture next generation technologies to address the climate crisis right here in the United States. And we will do all this with an eye to equity, access, benefits, and ownership opportunities for frontline communities—because Democrats believe we must embed environmental justice and climate justice at the heart of our policy and governing agenda.

Think Solyndra on steroids. Think taxpayer-funded subsidies for more expensive energy that won’t support the manufacturing industry.

Democrats will also mobilize a diverse new generation of young workers through a corps and cohort challenged to conserve our public lands; deliver new clean energy, including to low income communities and communities of color; and address the changing climate, including through pre-apprenticeship opportunities, joint labor-management registered apprenticeships for training, and direct-hire programs that put good-paying and union jobs within reach for more Americans.

TRANSLATION: Using a government command-and-control model, Democrats will pick winners and losers. Forget market forces determining the efficient distribution of investments. The Joe Biden-Bernie Sanders Democrats think they know what’s best.

Salena Zito, the premier on-the-ground political report in the nation, reports that President Trump’s support is strong in Pennsylvania. If President Trump wins Pennsylvania again, it’s virtually impossible for former VP Joe Biden to win. Regardless of what the polls say, the numbers are the numbers.

Ms. Zito reports that “Despite a deadly pandemic, staggering unemployment and racial unrest, Pennsylvania voters showed up in record numbers to take part in their presidential primary Tuesday — even though the results were a foregone conclusion.” Before jumping to the conclusion that Mr. Biden had turned in an impressive performance, it’s best to read further before forming a conclusion.

Later, Ms. Zito reported “With almost 98 percent of districts counted, Republicans have cast more than 861,000 ballots for Donald Trump, with 734,000 Democrats voting for Joe Biden. And while it’s still unclear how many people voted in person versus mail-in ballot, some counties are reporting that Trump drew plenty of supporters out of their homes.”

That means that President Trump got 53.98% of the primary vote. Despite the fact that President Trump had clinched the nomination months before this, people still voted in high numbers for a primary. Then there’s this:

Four years ago, pundits dismissed the overwhelming number of Trump signs posted on back roads, farms and highways in Rust Belt states as an unscientific measure of voter enthusiasm. But the signs for Trump (and lack of signs for his opponent Hillary Clinton) revealed a passion factor that traditional polls missed. In 2020, Trump signs are once again everywhere in Pennsylvania. And Biden signs seem nonexistent.

Trump signs, meanwhile, he’s seen a lot of them. “They are everywhere,” La Torre said, “and many of them are homemade.

The fact that people are making Trump signs means that they aren’t just Trump voters. It isn’t a stretch to think that they’re Trump volunteers, too. Since the start of the pandemic, the media has played up the supposed difficulties within the Trump campaign. After Republicans won the 2 congressional special elections last month, I said “the massive Trump army didn’t disappear during the pandemic.”

Indeed it hasn’t. Coupled with the city council elections in Staunton, VA, signs are emerging that GOP turnout will be formidable this November. This article suggests that President Trump is in trouble in Ohio. That’s foolish thinking. The Fox News poll that it’s based on apparently thinks that Joe Biden will excite the Democrats’ base and pull off a major upset.

There’s nothing from the primaries that suggests that Joe Biden is igniting the Democrats’ base. Biden was in trouble until James Clyburn endorsed him in South Carolina.

With a strong jobs report from Friday, there’s reason to think the Trump campaign is gaining momentum. Couple that with the Democrats’ call to defund the police and you’ve got a different version of peace and prosperity working in President Trump’s favor. Let’s be clear. I’m not saying that we’ve fully returned to the hot economy before the virus hit. I’m saying that people believe we’ve turned things around and we’re starting a new comeback. Larry Kudlow thinks that’s started:

Larry is eternally an optimist. Still, he’s often been right about these things. I won’t bet against his predictions.

Kelli Ward’s op-ed in Newsweek contains the right medicine for restarting the U.S. economy. Dr. Ward writes that, just as the first COVID-19 task force has recommended regulations that slowed medical innovation, so must President Trump’s economic task force eliminate regulations that cause economic stagnation:

Just as first task force identified places where our medical regulations sometimes hindered the swift action required (such as forcing the FDA to rapidly approve clinical trials for potential life-saving medicines), the new task force needs to identify the abundance of regulatory obstacles standing in the way of an economic jump start. From the start, the Trump Administration has done an exceptional job removing burdensome regulations to foster a booming economy. As America returns to work post-coronavirus, it is imperative that we finish the job by eliminating every remaining shred of unnecessary red tape that holds our economy back.

It’s also critical that the task force represents diverse sectors of our economy, starting with a robust delegation of small businesses. In addition to mom-and-pop small businesses, the travel, hospitality and food service industries have been clobbered and all deserve to have a seat at the table. Other considerations should be given to restaurants, live events and sports leagues, as well as all other entertainment and leisure industries.

The first important step is rejecting Sen. Schumer’s and Nancy Pelosi’s government-centric initiatives. When was the last time regulations created a FedEx or a Microsoft? When did government interference help ignite an economic upswing? The answer to both questions is never.

Dr. Ward is right about this, too:

Furthermore, the task force should avoid making one-size-fits-all pronouncements on entire cities, states and regions. As someone who lives in flyover country, I can tell you that many Arizonans have felt inundated by a big-city-only perspective on the crisis. While our hearts are with our fellow citizens in New York City, I can assure you some parts of the country can and would reopen now if given the opportunity. The same approach should be applied to entire sectors of the economy. Many industries will have to enact new protocols to ensure the worker safety in order to restart. The second task force can and should provide guidance on those protocols.

One-size-fits-all policy-making is fantastic — if everyone’s needs are exactly the same. Thinking that the manufacturers’ needs are the same as the financial industry’s needs or the agribusiness’s needs is foolish. The task force should have people who’ve built strong economies on it. It requires people like Larry Kudlow, Art Laffer, Steve Mnuchin. It requires small business entrepreneurs. Bernie Marcus and Steve Forbes should be part of the task force, too.

Speaking of one-size-fits-all vs. federalism:


I can’t say it better than that. I’ll leave it at that.

If President Trump staffs this task force on Tuesday, then it’s imperative that they start the research on rebuilding the economy on Wednesday at the latest. While it’s important to get people physically healthy, it’s essential that we get people financially healthy, too. The best way to do that is to eliminate punishments on entrepreneurs. Imposing taxes are required to run a government. Imposing regulations are required for running an orderly society. Too much of either, though, leads to economic stagnation.

By morning, if not faster, it’s virtually certain that the MSM will intentionally mischaracterize the Trump administration’s plans for the economy. That’s how they roll. The key to understanding the administration’s plans, look no further than Treasury Secretary Steven Mnuchin’s quote.

In a statement to Fox News, Mnuchin said “The president is very much looking at how we can reopen parts of the economy. There are parts of the country, like New York, where obviously this is very, very concerning. There are other parts of the country where it’s not.”

Kudlow added “The president would like to reopen the economy as soon as he can, and we are planning internally,’ adding that the spread of the CCP (Chinese Communist Party) virus is what will determine when the economy can be reopened. ‘I am hoping … we’re only a few weeks away from a reopening. We’ll see.”

In other words, President Trump isn’t planning on opening the economy by opening NYC a week after Easter. The thought that the administration is planning this suggests that there’s some thoughtfulness involved. Larry Kudlow has helped build some pretty dynamic economies in his career. Why shouldn’t we think that he’s capable of rebuilding the economy another time? It’d be one thing if we were asked to trust someone for the first time. That isn’t the case this time. Mr. Kudlow helped build the original Reagan economy that created 20,000,000 jobs.

This is exciting news on the COVID-19 front:

“Everybody who knows me knows that I am very conservative about making projections, but those are the kind of good signs that you look for,” White House task force member Dr. Anthony Fauci said during a televised briefing on April 6. “That’s the first thing you see when you start to see the turnaround.”

The COVID-19 virus, aka the Chinese Communist Party virus, isn’t to be taken lightly. Still, there’s increasingly positive sign appearing daily. At some point, it’s time to unleash this economy again. It was creating millions of jobs. Wages were rising at 3.1%. Unemployment was at 3.5%. There isn’t much chance it’ll pick up right where it left off. Still, there’s no doubt that it won’t perform well again. This isn’t the Obama administration asleep at the switch this time.

Dr. Fauci answers when we’ll return to normal during this briefing:

Like the title of an old book, “normal is a setting on a dryer.” There’s no question that it’ll take awhile to forget this virus. Some of the dire predictions won’t happen, either.

Still, there’s lots of stuff that we’ll learn from this virus, including whether we should’ve shut down the economy like we did. The easy answer is that we should’ve shut it down but that position is losing popularity due to the fact that we’re realizing that many of our decisions were guided primarily by fear. Fear, aka panic, isn’t the best basis for policy-making.