Tags: kudlow | socialism | green new deal | economy

Kudlow: 'Convict Socialism' Before Green New Deal Destroys Economy

By    |   Thursday, 28 February 2019 05:13 PM

White House economic adviser Larry Kudlow warns that Democrats proposing to overturn the Trump administration’s success by offering socialist policies will derail economic growth.

“I don’t want us to stand idly. I don’t want to let this stuff fester. I want it challenged, I want it debated, I want it rebutted and I want to convict socialism,” the veteran financial guru and former Ronald Reagan adviser said at at the Conservative Political Action Conference, an annual political gathering of Republicans near Washington, D.C.

Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985, cautioned against proposed Democratic Party programs such the Green New Deal, a sweeping plan to combat climate change advocated by Democratic U.S. Representative Alexandria Ocasio-Cortez and others.

The plan, which aims to slash U.S. carbon dioxide emissions to negligible levels in a decade.“will literally destroy the economy,” Kudlow said, Reuters reported.

Kudlow said the deal "will knock out energy, transportation, airlines, jobs, businesses. We'll probably lose 10 to 15% of our GDP. It's remarkable." Kudlow likened the deal to socialism and called for the American people to "put socialism on trial and convict it."

The plan proposes, "providing all people of the United States with — (i) high-quality health care; (ii) affordable, safe, and adequate housing; (iii) economic security; and (iv) access to clean water, clean air, healthy and affordable food, and nature."

The deal proposes "guaranteeing a job with a family-sustaining wage, adequate family and medical leave, paid vacations, and retirement security to all people of the United States."

The document marks the first formal attempt by lawmakers to define legislation to create big government-led investments in clean energy, infrastructure and social programs. The goal is to transition the U.S. economy away from burning fossil fuels and emitting greenhouse gasses blamed for climate change, rising sea levels and severe storms, Reuters reported.

The initiative was unveiled by Ocasio-Cortez, a rising political star, and Senator Edward Markey. The initiative has the backing of almost all the Democrats declared as candidates seeking for the party’s nomination in the 2020 presidential election.

Meanwhile, Kudlow said universal health care and ending private insurance were also "crazy ideas," citing high costs, CNN reported. He said, "guaranteed jobs, free to those who don't want to work, probably cost $45 trillion."

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White House economic adviser Larry Kudlow warns that Democrats proposing to overturn the Trump administration’s success by offering socialist policies will derail economic growth.
kudlow, socialism, green new deal, economy
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2019-13-28
Thursday, 28 February 2019 05:13 PM
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