Fox Business host Larry Kudlow blasted Biden Democrats for reversing a strong economy under former President Donald Trump on the Aug. 17 edition of Kudlow’s show.
Kudlow said President Joe Biden’s inflationary “Inflation Reduction Act” is a “$750 billion monstrosity, does not reduce inflation, does not reduce global warming, does raise taxes for middle-class working folks, will deepen recession and has not one iota, scintilla, whit, shred or morsel, of economic growth incentives.” Ouch.
He unleashed more of what he called “double-barreled criticism” on Biden’s policies during his monologue.
“In a mere twenty months, the economy has turned from boom to bust, but until the GOP recaptures Congress and saves America by repealing this bill, we're going to have to live with this monstrosity.” Biden’s bill will hurt, not help, an already ailing economy, Kudlow explained.
The American people seem to agree with Kudlow’s analysis that Biden’s bill will worsen inflation. Kudlow referenced a YouGovAmerica poll that found 40 percent of Americans said they believe that Biden’s bill will increase inflation. Just 12 percent said that inflation would improve as a result of Biden’s “Inflation Reduction Act.”
In another sign of the darkening economic mood nationwide, Kudlow cited recent reports on Target. The retail giant reported a 90-percent plunge in profits, according to CNN Business.
But Kudlow, who served as director of the National Economic Council under Trump, found two especially dangerous and “insane” energy provisions in Biden’s radical climate legislation.
“First up, we have the National Climate Bank,” Kudlow said. “That’s right, a $27-billion government bank that will be administered by the U.S. Environment[al] Protection Agency, the EPA.” Kudlow likened the bank to a “green slush fund” for Biden’s political allies.
Second on the “insane” list was an enormous $250-billion payout to the Energy Department, a more than 500-percent increase from the department’s Fiscal Year 2021 budget, Kudlow said. He added that Biden’s disbursement was a throwback to green energy company Solyndra’s scandal during the Obama administration.
The company went bankrupt despite more than a half billion dollars in government loans and claims from then-Vice President Biden that Solyndra would lead America toward a more “solar-powered” future.
Conservatives are under attack. Contact ABC News at 818-460-7477, CBS News at 212-975-3247 and NBC News at 212-664-6192 and demand they report the truth about how Biden’s Inflation Reduction Act will further cripple an already ailing economy.