Larry Kudlow: Biden's accusation against Sen. Johnson is a 'flat-out Lie'

I will open tonight with my Day 2 post-election thought that while Tuesday's midterm vote was not a cavalry, it was a GOP platoon. There's no question the GOP is going to take the House and that is an enormous, earth-shaking event. Joe Biden is dissing it, but he may think otherwise in a few weeks. 

Meanwhile, there's still a path to taking the Senate. With Adam Laxalt in Nevada — a 50th vote — Herschel Walker in a runoff in Georgia — a 51st vote and, by the way, it's still too soon to write off Blake Masters in Arizona. In fact, election return so far, I think, contributed to the thousand-point rise — a thousand points or more in the Dow Jones today. Big stuff in the stock market. 

Anyway, later in the show we're going to be talking to Republican gubernatorial candidate Kari Lake about the whole Arizona story. There are over 600,000 votes still not counted and the vast majority of them likely to go Republican. So, buckle your seatbelts, platoons can be very powerful.  

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Next up, I want to turn to Joe Biden's presser late yesterday afternoon.  Many of us have wondered whether he'll change his tune now that he's losing one or both houses of Congress. So, take a listen to this exchange:  

Reporter: 75 percent of voters say the country is heading in the wrong direction despite the results of last night. What in the next two years do you intend to do differently to change people's opinion of the direction of the country, particularly as you contemplate a run for president in 2024?

Biden: Nothing because they're just finding out what we're doing. 

So, Bill Clinton he is not. The answer is: no.  He has no intention of changing his big government socialist policies. Don't know if that would change at all if the Republicans take the Senate on top of the House, but I didn't hear any hints from Mr. Biden and when he says "nothing" as in nada, no change, because people are just finding out what we're doing?  Well, I'd call that one a head-scratcher. Wouldn't you?  

So, let me get this right. For two years people didn't know what you were doing? You were just kind of sneaking through, in quiet whispers, $5 trillion in new inflationary spending, a vast war on fossil fuels, the biggest regulatory binge, an open border, a fentanyl drug problem, a crime wave — you don't think people knew that? You don’t think they know that inflation’s been 40-year highs? They're just now finding out the day after the election. Really?  

I know the election was a lot closer than many of us predicted or hoped for, but you're going to get one big check and balance when the GOP takes over the House of Representatives and that's a big story in this election, which as usual has been under-covered by the mainstream media.  Losing the House is not going to be any fun for you, Mr. Biden. We’ll have House Majority Leader to be, Steve Scalise, on in just a moment or two to tell us why.  

Then of course, Mr. Biden once again repeated his fraudulent statement that he inherited an economy that was reeling — sometimes he says "in ruins" — when in fact it was growing at 6.5%. But that piece of fraud that is the "reeling economy" is what led to all the inflationary spending. So, a major untruth triggered an inflationary wave, which has done great damage to the economy and to family businesses and to falling real wages.

Then, Mr. Biden accused newly re-elected Senator Ron Johnson of moving to cut Medicare and Social Security, which is a big, fat, flat-out Lie, with a capital L.  Senator Johnson was on this show last night and talked about the need for fiscal restraint and less federal spending, but he specifically referred to discretionary programs, not the big entitlements and in fact, in Mr. Johnson's Wall Street Journal op-ed this morning, he couldn't be clearer about aiming at discretionary spending. Then yesterday Mr. Biden once again Pinocchio-ed his way through some major league falsehoods on oil and gas companies. But I'm going to save that for our next guest, Steve Scalise, because it's so much more fun to talk to Mr. Scalise about it.

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Finally, Mr. Biden said he's not really sure if he can break the back of inflation, but he made it very clear he will not support any Republican proposals that will make inflation worse.  Folks, do you remember any Republican proposals to make inflation worse? As I recall, all 50 Republican senators voted against the original $2 trillion emergency relief plan back in March of 2021, and then all of them again voted against the recent fraudulently named "Inflation Reduction Act." So, to be honest, I don't really know what Mr. Biden is talking about on that one. I guess this is part of his alternative universe thing.  

As I have said before, the Republican House is going to change a whole lot in Washington, whether Mr. Biden gets it or not and there's still plenty of vote-counting room for a GOP Senate, too. So, like I said, the platoon is coming and that’s my riff. 

This article is adapted from Larry Kudlow's opening commentary on the November 10, 2022, edition of "Kudlow."