COMING UP LARRY KUDLOW.
♪.
LARRY: HELLO, FOLKS, WELCOME TO
"KUDLOW," I’M LARRY KUDLOW.
SO THERE HE GOES AGAIN OR TO BE
SPECIFIC THERE HE GOES AGAIN
AGAIN.
PRESIDENT JOE BIDEN ON THE
CAMPAIGN TRAIL BLASTING OFF WITH
BLARNEY AND MISINFORMATION.
I’VE SAID IT BEFORE AND I WILL
SAY IT AGAIN, MR. BIDEN IS
INCAPABLE OF TELLING THE TRUTH
ABOUT THE ECONOMY OR HIS
POLICIES OR FOR THAT MATTER
ANYBODY ELSE’S POLICIES.
SO HERE’S MR. BIDEN IN MARYLAND
WITH SOME OF TODAY’S BLARNEY.
TAKE A LISTEN AND WEEP.
PRESIDENT BIDEN: SOME OF OUR
REPUBLICAN FRIENDS IN THE HOUSE
ARE TALKING ABOUT TAKING THE
ECONOMY HOSTAGE OVER THE FULL
FAITH AND CREDIT OF THE UNITED
STATES.
I MADE IT CLEAR IN THE STATE OF
THE UNION I WILL NOT NEGOTIATE
WHETHER OR NOT WE PAY OUR DEBT.
I WILL NOT ALLOW THIS NATION TO
DEFAULT.
LARRY: I MEAN, REALLY, SPEAKER
KEVIN MCCARTHY AND REPUBLICAN
HOUSE HAVE NO INTENTION OF
DEFAULTING ON THE FEDERAL DEBT.
THEY HAVE SAID IT TIME AND
AGAIN.
AND IT IS INCREDIBLY
IRRESPONSIBLE FOR BIDEN TO SAY
HE REFUSES TO NEGOTIATE.
THAT MAKES HIM RESPONSIBLE FOR
SOME KIND OF A DEBT DEFAULT IN
THE WORST CASE.
HE IS IN DENIAL BY THE WAY THAT
THE HOUSE HAS GONE REPUBLICAN
AND THE HOUSE HAS THE POWER OF
THE PURSE AND AS ALWAYS THE CASE
DOWN THROUGH THE YEARS DEBT
CEILING NEGOTIATIONS ARE THE
SUREST WAY TO GENERATE BUDGET
SAVINGS AND ACTUALLY REDUCE
DEFICITS AND DEBT.
NOTABLY, THE MOST RECENT CASE
WITH FORMER SPEAKER JOHN BOEHNER
AND FORMER PRESIDENT
BARACK OBAMA BACK IN 2011.
THEY NEGOTIATED.
THEY SAVED OVER A TRILLION
DOLLARS IN THE NEXT TWO YEARS.
THAT IS MORE OR LESS WHAT THE
HOUSE REPUBLICANS WANT TO DO
TODAY BUT IF MR. BIDEN WANTS TO
STAY HOME IN HIS DELAWARE
BASEMENT READING HIS ILLEGAL
CLASSIFIED DOCUMENTS AND NOT
TALK TO ANYBODY THEN HE IS THE
GUY TO BLAME.
THEN OF COURSE HE GOES INTO THIS
10 PINOCCHIO UNTRUTH RIFF HE HAS
ABOUT THE GOP SO-CALLED
3 TRILLION-DOLLAR DEBT PLAN.
PULL OUT YOUR HANDKERCHIEFS,
TAKE A LISTEN AN WEEP SOME MORE.
PRESIDENT HOOK, FOLKS, LET’S BE
CRITICAL CLEAR WHAT IS
HAPPENING, IF YOU ADD UP THE
PROPOSALS WHAT MY REPUBLICAN
FRIENDS OFFERED THUS FAR, THEY
OFFERED THESE NOW, IT WOULD ADD
$3 TRILLION TO THE DEBT OVER 10
YEARS.
>> THIS PURE PINOCCHIO BLARNEY.
FIRST UP HIS 87,000 IRS AGENT
CHASING AFTER TIPS OF
WAITRESSES, CAB DRIVERS, DOORMEN
WILL NOT GENERATE ANY
SIGNIFICANT REVENUES.
IT HAS BEEN TRIED BEFORE AND
ALWAYS FAILED.
OF COURSE IT IS MIDDLE AND LOWER
CLASS WORKING FOLKS WHO PAY THE
BURDEN BECAUSE THE WELL TO DO
HAVE TAX LAWYER TO PROTECT THEM.
HE HAS MORE BLARNEY ABOUT LOWER
PRESCRIPTION DRUG COSTS WHICH
WILL NEGATIVE PAN OUT AS PRICE
CONTROLS NEVER DO.
BUT MOST OF BIDEN’S
MISINFORMATION ABOUT MAKING
TRUMP TAX CUTS PERMANENT.
HE THINKS IT IS A $2.7 TRILLION
LOSS BUT AS WE’VE SHOWN OVER AND
OVER, THE CONGRESSIONAL BUDGET
OFFICE ITSELF SHOWS THERES THERE
WAS A MASSIVE REVENUE INCREASE
IN FIRST TWO YEARS OF TRUMP TAX
CUTS WITH REVENUES RISING BY
250 BILLION.
IN OTHER WORDS THE TAXPAYERS
MADE MONEY AND THE BUDGET
DEFICIT CAME DOWN.
BY THE WAY THE BIGGEST
BENEFICIARIES CONTRA BIDEN WERE
MIDDLE INCOME BLUE-COLLAR FOLKS
AND MINORITIES WHO GOT THE
BIGGEST GAIN IN REAL WAGES THIS
HAS BEEN PROVEN AND OVER BUT
BIDEN KEEPS SPREADING THE SAME
OLD NONSENSE.
NOW, FINALLY THE CBO CAME OUT
WITH THE NEW BASELINE BUDGET
PROJECTIONS FOR THE NEXT 10
YEARS.
AFTER ALL THE BIDEN DEMOCRAT NEW
SPENDING, THE TOTAL DEFICIT OVER
THE NEXT 10 YEARS IS ESTIMATED
BY CBO AT $20 TRILLION HIGHER.
THAT’S RIGHT.
20 TRILLION.
TOTAL BUDGET OUTLAYS ESTIMATED
TO RISE BY 80 TRILLION.
THAT’S RIGHT.
$80 TRILLION.
THOSE ARE CBO NUMBERS.
IF YOU TRACK THE YEARLY DEFICITS
FROM BIDENNOMICS YOU GO FROM
1.6 TRILLION, 1.9 TRILLION BY
28.
UP TO 2.9 TRILLION BY 2033.
THAT IS THE CBO NUMBERS.
THERE IS NO DEFICIT REDUCTION,
NO DEBT REDUCTION, THERE IS NO
SPENDING RESTRAIN.
MEANWHILE THERE IS IT NO
PROSPERITY EITHER.
WITH ALL THIS SPENDING AND
TAXING AN REGULATING, ECONOMIC
GROWTH IS ESTIMATED AT A MEASLY
1.8% PER YEAR.
THAT IS NOT PROSPERITY.
3 1/2% PER YEAR IS CLOSER TO
DECENT GROWTH AND DECENT
OPPORTUNITIES AND WE HAD THAT
FOR OVER 50 YEARS BUT WE HAVEN’T
HAD IT FOR THE LAST TWO DECADES
AND THIS WOULD BE A THIRD DECADE
OF ECONOMIC UNDERPERFORMANCE.
OF COURSE THERE IS NO PROS
PARTY.
THE SIZE OF THE FEDERAL
GOVERNMENT GOES TO HISTORICALLY
HIGH 25% OF GDP.
NOW, FOR THE LAST HALF CENTURY
IT HAS AVERAGED ONLY 20%.
THIS IS BIDEN-NOMICS.
SPEND IT, TAX IT, REGULATE IT
AND THE CBO THINKS INFLATION
WILL STAY DOWN 2% IN THE NEXT 10
YEARS.
I WOULD SUGGEST TO THEM, THINK
AGAIN WITH THIS KIND OF SPENDING
AND BORROWING.
YOU KNOW, MR. BIDEN, YOU SHOULD
REALLY GET SERIOUS.
YOU OUGHT TO FACE THE MUSIC.
YOU SHOULD DO YOUR JOB AND
NEGOTIATE WITH THE OTHER BRANCH
OF GOVERNMENT.
I WILL SAY HERE AT THE END, SAVE
AMERICA, STOP THE CRAZY
SPENDING, BORROWING, REGULATING
AND INFLATING OR FRANKLY BETTER