Top White House economic adviser Larry Kudlow on Sunday, June 30, criticized Democratic presidential candidates on economic policies. He warned that they would do “great damage” to the U.S. economy.
“I hear some of their policies and I hear some of their narrative. I don’t understand what planet they’re describing,” Kudlow, director of the National Economic Council, said in an interview on “Fox News Sunday.”
He added, “The United States economy is booming. It’s running at roughly 3 percent average since President Trump took office two and a half years ago.”
Kudlow explained the good performance of U.S. economy by low unemployment and the strong performance of the stock market.
He continued, “On this business about bad distribution, the blue-collar workers, the nonsupervisory workers have done the best. They’re the ones running wages at 3.5 percent. Their growth and incomes and wages is exceeding the growth of their supervisors. The unemployment rate is low. We just had the best June stock market, the Dow Jones, in over 80 years. That’s going to fill up the 401(k)s of middle-class folks everywhere.”
Earlier, during the first Democratic presidential primary debate on June 26, Sen. Elizabeth Warren (D-Mass.) claimed, “When you’ve got an economy that is great for those with money and isn’t doing great for everyone else, that is corruption, pure and simple. We need to call it out, we need to attack it head on.”
In the meantime, Sen. Bernie Sanders (I-Vt.) argued on the economy, “At a time where we have three people in this country owning more wealth than the bottom half of America while 500,000 people are sleeping on the streets today, we think it is time for change, real change.”
But Kudlow responded, “What we are doing right now, the best manufacturing autos, blue-collar work recovery, the fastest increase in jobs, the fastest increase in wages. Those are facts. This goes on for many decades, the best performance.”
In addition, Kudlow said that progressive Democratic policies would hurt economic growth.
“I will make this warning: Some of the policies that I’ve heard in some of these early debates, in my judgment, would do great, great damage to this prosperity and jobs and income and wage cycle that we are experiencing,” Kudlow said, referring to the opening Democratic presidential debates Wednesday and Thursday.