FOX Business host Larry Kudlow voices his concerns about reckless government spending as Americans are struggling due to record-high inflation on 'Kudlow.'
FOX Business host Larry Kudlow weighs in on the state of the economy as Americans see record-high consumer prices on 'Kudlow.'
In our topsy-turvy Biden world, where true is false, false is always false, recessions don't exist, inflations don't exist, fossil fuels don't exist and 75% of America doesn't exist, there is no common sense left. So, let me try. In a recession, you don't raise taxes and to quote eminent economist Larry Lindsey, who will be here in a little while, "there have never been two consecutive quarters of negative growth that were not ultimately deemed as recessionary.
In today's personal income report, all the inflation news was higher than expected. The PCE deflator was up 1% in June, following only 0.6% and 0.2% in the prior two months, with the 3 month change 7.2% at an annual rate. Senate Majority Leader Chuck Schumer of N.Y., speaks to the media after a Democratic policy luncheon, Tuesday, Oct. 19, 2021, on Capitol Hill in Washington. Contrary to Wall Street wisdom, we've had two consecutive quarters of declining GDP, butanyway.
Ironically, Senator Manchin's coal industry will be hard hit by this—so will all mining, minerals, fossils, manufacturing, even financial services. This turns dumb into dumber. But guess what? Green energy tax credits would be exempt from the new corporate AMT. Now isn't that just a kick in the pants?
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