Larry Kudlow, former White House chief economic adviser, attends the Conservatives for Action Conference (CPAC) on Feb. 28 to deliver a featured speech (screenshot from SOH live stream)
On February 28, former White House Chief Economic Advisor Larry Kudlow attended the Conservative Action Conference (CPAC) and gave a keynote speech. He pointed out that the U.S. economy will prosper if the policies of the Trump administration are continued. A return to the leftist policies of socialist inbreds would be a dead end.
Kudlow said in his speech that the Trump Administration‘s growth policy, national security policy and “America First” policy is to help American workers, and the economy and national security as a priority, unifying the Republican Party and conservatives, these policies have no differences.
I’ve been through Presidents Reagan to Trump, and they’ve all had similar policies to make the country prosperous,” he said. That’s why we should rally as traditionalists and follow the remarkable accomplishments of former President Trump.”
In his speech, Kudlow clarified that the U.S. economy was in recession at the end of 2016, yet immediately after Trump took office, the administration deregulated policies, implemented tax cuts and the U.S. economy was revitalized, with people in the middle class, blue collar, lower middle class and lower income brackets seizing opportunities and benefiting.
He said, “The most compelling data on this topic is that the people who needed help the most got it (economic help), and the overall unemployment rate dropped to 3.5 percent before the Epidemic spread, the lowest unemployment rate in history, and that’s a fact.”
Kudlow said the real income of truly middle-class American households increased by $6,500 in three years before the epidemic spread, which is five times the amount of increase in middle-class household income three years ago. And that’s something the administration before Trump hadn’t done in eight years.
Kudlow went on to say that middle American household incomes increased by 10 percent in three years, blue collar grew by 10 percent, while the wealthiest top income earners grew by only 3 percent, with middle class blue collar getting the biggest economic upturn over the very wealthy. Total employment in the U.S. grew to a record 160 million people.
He said Trump’s policies have provided people with the opportunity to work and succeed and lifted 6.6 million people out of poverty. That’s all because the policies provide incentives for free enterprise, reward success rather than punish it, reduce regulations and business burdens and promote record energy production.
Kudlow said the first phase of the trade deal is working, according to U.S. Trade Ambassador Bob Lighthizer. The $365 billion in tariffs that could be imposed on China remain in effect in case the Chinese Communist Party does not deliver on its promises. The U.S. has halted exports of sensitive high-tech, semiconductors and more.
At the end of his speech, Kudlow hoped that the Biden administration would continue Trump’s policies and let the economy run freely, so that the U.S. economy would recover and prosper. However, he warned, “But if the manipulation of the economy, if it starts to punish success, if it uses vicious words, if it goes back to the most leftist economic policies, which are close cousins of socialism, it won’t work.”
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