Larry Kudlow: Biden and the radical progressives took this strong economy and damaged it

Larry Kudlow shreds Biden's inflation blame game

Hard to believe that President Biden and his radical progressive have taken a strong economy with 6.5% growth, less than 2% inflation and so damaged it; in a mere 18 months that here in the first half of 2022, we're looking at minimum the front end of a recession with quite possibly two straight negative GDP quarters, along with a near 10% inflation—hard to believe. 

Equally hard, is that Mr. Biden and his big government socialists are blaming Donald Trump and Republicans. Mr. Biden loves the blame game, but that's quite different from what he told us, about a year ago. See for yourself: 

BIDEN: "I am president of the United States of America and the buck stops with me" 

Well, it's ironic, isn't it, that while Mr. Biden is blaming Republicans, Putin, COVID, oil companies, gasoline station owners and business in general, that they did not control the White House? They did not control both houses of Congress and they did not control the partisan reconciliation process—just saying — and what's Mr. Biden doing about it? 


Joe Biden speaking

U.S. President Joe Biden delivers a speech during the state dinner hosted by South Korean President Yoon Suk Yeol at the National Museum of Korea, in Seoul, South Korea, Saturday, May 21, 2022.  (AP Photo/Lee Jin-man, Pool / AP Newsroom)

Well, among other things, he's shutting down the oil and gas spigots even tighter, with a policy of no new leases, no new permits, no new pipelines and no new refineries. He is decimating our energy and national security by taking almost half of the reserves out of the strategic petroleum terminals. 

Virtually his entire government policies are focused on radical climate change. Though fortunately, much of it has been overturned by the Supreme Court.  

Recently, his Transportation Secretary Pete Buttigieg decided to end carbon emissions on highways, thus banishing gas-powered vehicles, of course with no legislative mandate. If you think this is nutty, you'd be right. 

This is the same secretary who thinks roads and bridges are racist and who decided to turn down permits for highways, and bridges, but to put bicycle paths at the top of their inbox and now, Mr. Biden and his Democratic Congress are attempting to jack up taxes on small business passthrough companies, raise the minimum tax on corporations at home and abroad, and are fighting to increase federal spending by another trillion dollars, including more gobs of climate extremism. 

So, let me get this right. Recession looms, inflation is virulent and Uncle Joe is pushing for even more policies that brought the economy down in the first place. But it's not his fault, right? 


Well, a recent New York Times poll shows his approval at 33%. Among independents he's at 25%, among Hispanics he's at 32%, among Blacks he's down to 62% and 94% of Democrats under 30 want someone else to run for president. He won that group 60-30 in the last election. 

I would say that all those people Mr. Biden has been blaming have now banded together to oppose him and are now crying for his ouster. He still says it's not his fault. Virtually the rest of the country says it is. Who do you trust? 

This article is adapted from Larry Kudlow's opening commentary on the July 11, 2022, edition of "Kudlow."