Democrats are blaming President Donald Trump for the country's economic problems that have been happening since the coronavirus pandemic began, but the fact is that the current administration "inherited the worst, slowest economy" since the Great Depression, White House economic adviser Larry Kudlow said Thursday.
"Yeah, sure, blame him for the virus as though he created it," Kudlow said on Fox News' "Fox and Friends." "The whole economy is suffering from something [he] had no control over."
But in 2016, right before Trump took office, the economy was "teetering very close to recession," said Kudlow. "The president's policies of low taxes, deregulation, unleashing energy, free and fair trade deals to improve exports for manufacturers and farmers, those policies generated a tremendous boom and 3.5% unemployment."
Democrat nominees Joe Biden and Kamala Harris, however, "want to raise your taxes, a $3.5 [trillion] to $4 trillion tax hike," said Kudlow. "We're climbing out, rapidly, of this pandemic contraction. Why would anybody in their right mind want to raise taxes, take money out of people's pockets as we're trying to get through back to a good normal recovery? It just doesn't make any sense at all."
Kudlow also responded to Democrats' claims that Biden will restore the economy, and said that unlike them, he doesn't "think the rich are the enemy." He also noted that under Trump, taxes were cut for individuals and small and large businesses, and "wage growth for the middle-class, blue collars soared, after our tax cuts."
Kudlow also commented on the news that U.S.-China trade talks are back on, but said the talks are something that was originally scheduled as a review of the first phase of the deal.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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