Home » Celebrities » Larry Kudlow: US is either in recession or on the front end of a recession
Larry Kudlow: US is either in recession or on the front end of a recession
Larry Kudlow: Biden’s big government socialism is leading to a bust
FOX Business host Larry Kudlow provides insight on the state of the American economy on ‘Kudlow.’
As a long-time confirmed, congenital optimist when it comes to America, I hate bad news, of any kind really, but especially bad economic news. To be sure, we've always suffered through cyclical recessions — 13 recessions (counting the one-quarter COVID recession) since World War II, but recoveries were far more powerful than downturns and actually, over long 50-year periods, our free enterprise economy has usually maintained a 3.5% yearly growth rate, even after taking account of inflation. Though recently, in the last 20 years, this has not been the case.
No other country in history comes even close to our long-run prosperity trend. In other words, economic freedom works. Lately, however, the economy has turned down. We're either in recession or on the front end of a recession.
The principal cause of this slump, in my view, is the inflationary policies of the Biden administration: too much spending, taxing, regulating, green new dealing and money printing. President Trump's supply-side policies created a boom. Unfortunately, it was too short and Biden's big government socialism has led to the bust.
STUDENT LOAN CANCELLATION COULD COST $900B AND FAVOR TOP EARNERS, ANALYSIS SHOWS