Mar 14, 2018
"Larry Kudlow is a clown. His 'ideas' have been repeatedly discredited. He is not interested in actually making the economy work better for ordinary people. I guess he's perfect for Trump's NEC."
--Michael Lindon, Roosevelt Institute
Larry Kudlow--a right-wing television personality, former Reagan aide, and fervent believer in trickle-down economics--confirmed on Wednesday that he has accepted President Donald Trump's offer to replace Gary Cohn as director of the National Economic Council.
The fact that Kudlow's economic assessments are "usually wrong and frequently absurd"--for example, his insistence in 2007 that there would be no recession the very same month the recession began--doesn't seem to have bothered Trump, who reportedly loves how Kudlow projects his authority on air.
"Trump, rather famously, likes to watch many hours of television each day and believes that cable television is a good way to gather information, so it's natural that Kudlow would seem to him to be an authority on economic matters," notedVox's Matt Yglesias on Wednesday. "His ability to actually provide high-quality economic policy advice to the president seems more questionable."
Like Cohn, Kudlow opposes tariffs, but he is a fervent believer in the Trump administration's deregulatory efforts and massive corporate tax cuts, which he helped shape as an informal White House adviser.
In response to news that Kudlow will soon be Trump's top economic adviser--he does not have to be confirmed by the Senate--critics highlighted just a tiny portion of his "spectacular record of wrongness."
\u201cLarry Kudlow \u2014 Trump's pick for top economic adviser \u2014 denied the existence of a housing bubble, even after it collapsed, touted the \u201cBush boom\u201d and boasted that there wouldn\u2019t be any recession in December 2007 \u2014 the month the recession began. https://t.co/GNuCbD3mPX\u201d— Public Citizen (@Public Citizen) 1521048828
\u201cLarry Kudlow in 2008: "We are in a mental recession, not an actual recession. And the low-tax, free-trade, free-market, capitalist economy is a whole lot more resilient and durable than the pessimistas and declinists would have us believe."\u201d— Public Citizen (@Public Citizen) 1521048828
\u201cLarry Kudlow is Donald Trump's pick for economic adviser. Here is a grotesque piece from 2002, where Kudlow advocates for a war in Iraq because he thought it would help the stock market.\n\nNow you know where Trump's head is at, on issues of war.\n https://t.co/vNNYrIhEfG\u201d— VoteVets (@VoteVets) 1521054093
\u201cA reminder of how wrong Larry Kudlow was on the recession, via @dceiver https://t.co/KsnW0KdPRB\u201d— Igor Bobic (@Igor Bobic) 1521046815
\u201cI know we aren't supposed to say this out loud but:\n\nLarry Kudlow is a clown. His "ideas" have been repeatedly discredited. He is not interested in actually making the economy work better for ordinary people.\n\nI guess he's perfect for Trump's NEC.\u201d— Michael Linden (@Michael Linden) 1521046921
\u201cIn September 2008, Kudlow argued that lower oil prices would \u201cmake it much easier for people to pay their mortgages on time,\u201d thus abating the growing credit crisis. https://t.co/eBDdrarDAR\u201d— Media Matters (@Media Matters) 1521046969
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