Kudlow: President Biden is spreading disinformation
Kudlow reveals what the arithmetic on the bills really suggests
FOX Business host gives his take on the debates over the congressional spending bills on 'Kudlow'
Still no progress on any of the budget bills as we convene here tonight.
So far, nothing on infrastructure, reconciliation, even a continuing resolution to perhaps get the government through the next month and no progress on raising the debt ceiling even while JP Morgan CEO Jamie Dimon warned yesterday that a U.S. default on Treasury bonds would have devastating consequences for the economy, but I don't think the U.S. will default.
This is the usual game of chicken and I think Mitch McConnell is right.
The debt ceiling should be resolved in the reconciliation bill and, by the way, I don't think they should just "suspend" the debt ceiling.
That means you can spend and borrow forever. There's supposed to be a limit extending to a date certain and good debt ceiling solutions in the past have always included a spending limitation provision.
Think we'll get one now? Think again, but it's kind of interesting to watch the Democratic Party tie itself up in knots.
Wyoming Republican discusses the real cost of the president's tax and spending on 'Kudlow'
The way I see it, it's a hammer and tongs, nuclear warhead battle between the left and the far-left. We're talking mutually assured destruction and I'm loving it and I hope the left and the far-left just blow each other up.
It's not personal. It's just: Save America. Kill the bill.
It looks like Speaker Pelosi doesn't have the votes for anything in the House. So, there probably won't be an infrastructure vote tomorrow as initially promised.
On reconciliation, the House Rules Committee, which is totally controlled by the Speaker, they're going to sit on reconciliation marks on taxes and spending until the Senate comes up with a plan and then they'll negotiate, but the Senate is not coming up with a plan.
House Minority Leader Kevin McCarthy says the left are ‘conning the American people’ in spending push on ‘Kudlow.'
The two most important Democrats are Senators Manchin and Sinema. Bernie Sanders is bellowing that he's already compromised from $6 trillion to $3.5 trillion, but Joe Manchin already said he wants $1-1.5 trillion.
Many observers think the White House must Manchin-ize their plan. In other words, a big downsizing of spending and taxing.
Senator Sinema has said she's opposed to the corporate tax hike —my kinda gal. Sinema apparently was in the White House three times yesterday, meeting with the president and various other officials and today, apparently, White House officials visited Senator Sinema in her office, but so far, nothing.
Former OMB director Russ Vought warns Dems about jamming through the spending bill on 'Fox Business Tonight'
So we're going to play it a day at a time. Perhaps we'll get an update from our next guest Senator John Barrasso — a key player in the Republican Senate leadership team, but I just want to once again note that what we know so far is the House Budget Committee has a $4.3 trillion spending mark and the House Ways and Means Committee has a $2 trillion tax hike mark.
Though President Biden and the White House continue to argue that this massive spending is cost-free, I appeal to all reasonable people that $4.3 trillion is larger than $2 trillion.
As I mentioned last night, out of respect for the Office of the President, I'm not gonna say Mr. Biden is lying.
I'm just going to note that the arithmetic suggests that $4.3 minus 2.0 shows a deficit of $2.3 trillion where the pay-fors don't pay for the plan.
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I think my position is unassailable. Consequently, the president is spreading disinformation.
Finally, Manchin-izing or not, I still say, Save America. Kill the bill.
In fact, kill all the bills. That's my riff.