03/15/2018

Larry Kudlow Is The Right Man To Advise President Trump On The Economy

Steve Forbes, USA Today

When we see the initials GOP, we think of the Republican nickname — Grand Old Party. With Larry Kudlow’s appointment as the new director of the National Economic Council, those initials might soon become an acronym for Growth, Opportunity, and Prosperity.

Since his days working in Ronald Reagan’s budget office, Kudlow has been the happy warrior fighting for policies that would enable all of us to have better lives. He played an indispensable role in devising the 40th president’s economic revival program of promoting tax cuts, battling inflation, cutting regulations and reducing trade barriers. Not for him the pessimism of those who think we’re headed for long-term stagnation and or the defeatist thinking of those who believe we must go through austerity and grim times before we can ever prosper again.

Kudlow's views on the top economic issues make sense for our times:

Tax Cuts. Unlike all too many economists, Kudlow knows that taxes impose a financial burden on labor. They create a disincentive to hard work and risk-taking that is so critical to achieving success. Lower that burden through reductions in tax rates and we get more prosperity. Larry co-authored a book — JFK and the Reagan Revolution: A Secret History of American Prosperity — that chronicles how President John Kennedy’s historic, growth-igniting tax cuts came into being. The result was one of history’s greatest economic booms.

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The Fed vs. the Middle Class

With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.

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