During an interview with Fox News Sunday, Trump’s former economic advisor Larry Kudlow said Biden is lying about the economy and his role in dragging the US into a recession.
Kudlow said, “I’ve never understood these crazy assertions. Utter fraud. I mean just to look at the numbers. When Joe Biden was inaugurated, the economy was growing at about 6.5 percent. The inflation rate was barely above 1 percent. And in the course of the next 12 to 15 months, 18 months, he took that economic boom and essentially turned it into a recession because of all the inflationary federal spending and regulating and the war against fossil fuels.”
He went on to say, “He will not tell the truth about the economy. He inherited a boom. He turned it into a bust. We’re in a lot of trouble now.”
He continued, “The Federal Reserve is raising interest rates. Stock markets are falling, we are headed for a very deep recession. And these progressive policies have utterly failed. There’s no confidence in him. There’s no confidence in his policies. And right now there’s no confidence in the economy. And that’s why the cavalry is coming. That’s why we’re going to see a tremendous turnover in Congress in the next couple weeks in the midterm elections.”
Kudlow’s comments come after Biden bragged about the US economy on Friday. During his speech, Biden said, “The deficit has come down both years that I’ve been in office. And I just signed legislation that’s going to relu- — going to reduce it even more in the decades to come.”
Biden went on to say, “[Republicans] threaten the very foundations of the American economy if we don’t meet their demands.
“And they talk about inflation. Everything they proposed — are proposing will make inflation worse. Everything they’re proposing would make inflation worse.”
Biden closed by (again) blaming people who would prefer that Trump was still in office – an entire people group he has vilified as “MAGA Republicans.” Biden said, “Its mega MAGA trickle-down. Mega MAGA trickle-down — the kind of policies that have failed the country before and will fail it again. It’ll mean more wealth to the very wealthy, higher inflation for the middle class. That’s the choice we’re facing. That’s why I think that we’re going to do just fine.”