Kudlow: ‘Woke economics’ leads to economic decline

So, another $4.5 trillion in federal spending is just what the country needs, right?

The Senate Democrats on the budget committee have proposed the budget resolution that would do just that.

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They’re proud of it, and so is President Biden, so I don’t want to be the skunk at the garden party. I don’t want to be the guy that takes away the punch bowl, but I think most folks know that we already have a post-pandemic economic boom, and whether it’s temporary or not, a big increase in inflation.

So seriously, do we need this $4.5 trillion?

Let’s say over 10 years, it would come to $450 billion dollars a year in additional spending. We already had $2 trillion in emergency spending last March and the Federal Reserve has been buying two-thirds of all new Treasury debt, so they would be pumping in another 300 billion, or so per year in high-powered cash. That’s not going to diminish inflation.


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