Tags: Trump Administration | larry kudlow | trump | economy | shutdown | cbo

Kudlow: Shutdown Had Only 'Temporary' Economic Effect

By    |   Tuesday, 29 January 2019 09:23 AM

Effects of the government shutdown on the U.S. economy will be "completely temporary," National Economic Council Director Larry Kudlow said Tuesday, disagreeing with a Congressional Budget Office report that $11 billion was lost, with $3 billion deemed a complete loss.

"President (Donald) Trump lowered marginal tax rates on individuals and most especially businesses, and then he had this massive sweeping rollback of costly and burdensome regulations, which freed up the whole economy, including the energy sector, which has turned out to be a boom," Kudlow told Fox Business' "Mornings With Maria."

The big difference between the Trump administration and the CBO is that "We believe the economy is growing at 3 percent plus," said Kudlow. "The CBO does not. They never have. They've never given us credit for the incentive effect of lowering taxes and regulations...you will see in my judgment, at least, the 3 percent trend line will continue. The CBO and many others have us at two."

Kudlow also commented on the upcoming China trade talks, saying that if China opens its markets, that will be "huge."

"The enforcement mechanisms are going to be crucial," said Kudlow, because if markets are opened, American companies could own their own subsidiaries, and there is a law on IP theft, "open markets will allow the United States to export like crazy."

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Effects of the government shutdown on the U.S. economy will be "completely temporary," National Economic Council Director Larry Kudlow said Tuesday, disagreeing with a Congressional Budget Office report that $11 billion was lost.
larry kudlow, trump, economy, shutdown, cbo
220
2019-23-29
Tuesday, 29 January 2019 09:23 AM
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