FOX Business host Larry Kudlow analyzes why American happiness is declining in the current state of the economy and critiques President Biden's performance on Friday's 'Kudlow.'
Larry Kudlow: Biden admin has not generated any confidence in its ability to steward economic prosperityIn a major Wall Street Journal headline story today: "Most Americans doubt their children will be better off," WSJ-NORC poll finds.
I know that I'm going to sound partisan right now, but my own personal view is that Joe Biden owns this pessimism. It’s the same way Joe Biden owns the inflation that continues to haunt middle-class working folks. It was his massive spending, which really continues to this day, that caused the inflation that is the cruelest tax of all, to paraphrase Maynard Keynes.
In the NORC poll, nearly two-thirds said inflation is a major concern. Then, roughly four-in-ten cited healthcare and housing costs. Despite low unemployment, there's anxiety about the job market. Almost half said their finances are worse than expected. More than half have lost faith in the power of an education, the power of a college education too. That is a heartbreaker!
I also believe Joe Biden owns the banking problem, because the original sin of his bailouts was sky-rocketing inflation, which ultimately led to huge interest rate increases and have sent a major shiver throughout banks all around the world and, on that point, working folks do not like the bank bailouts one bit.
Mr. Biden is not pursuing happiness. He's pursuing a far-left ideological agenda. It can be summarized by the phrase "limitless government" – bailouts, subsidies, taxes, regulations, social benefits, cancel culture, diversity, equity and inclusion, esg and on and on.
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