Tags: Money | Trump Administration | larry kudlow | socialism | economy | deficit

Kudlow Optimistic on Economy Despite $22T National Debt

larry kudlow
Larry Kudlow (Susan Walsh/AP)

By    |   Thursday, 14 February 2019 12:10 PM

White House Economic Adviser Larry Kudlow said Thursday he's optimistic about the economy, even with reports putting the national debt at $22 trillion and other news showing consumer borrowing is climbing.

"Retail sales, there are glitches in that number, some because of the shutdown, some of it because there is a message there," the veteran financial guru and former Ronald Reagan adviser told Fox News' "America's Newsroom."

"I'm glad the Federal Reserve is putting their rates on hold. I think the president's warning on that was spot on. Now hopefully the Fed will step aside," said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.

Kudlow, the head of the National Economic Council that advises President Donald Trump,
further insisted that the overall economy remains "very strong" and investment and consumption are also robust.

"You know what's important here? Incomes," said Kudlow, who served as the Trump campaign's senior economic adviser.

"Jobs are roaring and unemployment is low across the board. Incomes after inflation are very strong. That's why I think you'll see much better retail numbers and consumer spending numbers."

However, Kudlow said that if people in Congress want to talk about tax rates that could go to 70 percent or higher or the "crazy" Green New Deal plans that cost a fortune, that will roll back the gains made under Trump.

"President Trump ended the war on business and he ended the war on success and he is sending messages to open up the economy with low taxes and deregulation," said Kudlow.

He also noted that there are many people now discussing Socialism, including Trump in his State of the Union Address, he believes that system could set the U.S. economy back 100 years or more.

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Economy
White House Economic Adviser Larry Kudlow said Thursday he's optimistic about the economy, even with reports putting the national debt at $22 trillion and other news showing consumer borrowing is climbing.
larry kudlow, socialism, economy, deficit
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2019-10-14
Thursday, 14 February 2019 12:10 PM
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