Kudlow: Biden’s assertion on debt ceiling ‘totally, utterly incorrect’

‘Kudlow’ host Larry Kudlow highlights the president’s ‘fibs’ surrounding future spending.

President Biden gave a wonderful press conference this morning. As you may know, he took questions on the big reckless spending and taxing and big government, socialist Bernie Sanders bill. 

One of the wonderful assertions by the President was that the debt ceiling is only about past spending, where of course, he blamed Donald Trump — but it’s not about future spending. Actually, that's totally, utterly incorrect. It’s a piece of disinformation that could mark a new low in presidential fibs. 

I won't call them lies, because he's the President. So I'll just say it's a fib. But in the "fib market," after this morning, Mr. Biden is a stock looking for a bottom. Of course, the debt limit debate is always about future spending. In fact, it's only about future spending. Because, during the Trump years, Mr. Trump and the Congress, agreed to suspend the debt limit until a few days ago on Sept. 30. 

So the reason Mitch McConnell and the Republicans won't support the Democrats is because the Democrats won't say what kind of spending and taxing and debt they're cooking up for the next budget. Emphasis on the "next budget," as in next year. 

KUDLOW GIVES HIS THOUGHTS ON BIDEN'S SPENDING PLAN

Now, I know there's a circular Democratic firing squad going on right now. But I'm just saying if they ever make a deal, Nancy Pelosi's latest is that they have to have a deal by October 31st – that’s Halloween. If they ever make that deal, somebody will know what kind of borrowing requirements are necessary for the next year. But if the Democrats don't know, how can the GOP know?

And if the Democrats fess up to their reckless spending intentions, then the GOP will be right in opposing it and the borrowing that goes with it. I just love it when President Biden blames former President Trump. 

Congress struggles to raise debt ceiling as deadline looms

Bokeh Capital Partners LLC. founder Kim Forrest, Kaltbaum Capital Management President Gary Kaltbaum and Money Map Press Chief Strategist Shah Gilani discusses the debt ceiling, ongoing supply chain crisis and inflation.

On the catastrophic Southern border with illegal immigration, he blamed Trump. In disastrous withdrawal from Afghanistan, he blamed Trump. And now, on economic policy, reversing Trump's many successes, he blames Trump. There's a pattern here. Wouldn't you say? Biden the victim. Blame Trump. 

Trouble is, as Biden polls plunge, the public's not buying it. Inflation has become a huge problem, the public links big government spending with higher inflation. Therefore, the public opposes the Biden-Bernie et al budget. This is not hard. Trump didn't invent this reckless budget. 

And it is interesting how Mr. Biden has sold out the so-called Democratic moderates, as he did last Friday when he went up to the House Democratic Caucus and he combined infrastructure bill with budget reconciliation bill. That’s something he and Mrs. Pelosi pledged not to do but they did it anyway.

BIDEN SLAMS SENATE GOP AS ‘HYPOCRITICAL, DANGEROUS AND DISGRACEFUL’ AMID DEBT CEILING FIGHT

Now, Biden is blaming Senators Manchin and Sinema. So, really, the president has completely eliminated any lingering image of being a moderate himself. Or being a uniter. All of that is totally gone. 

He crossed the Rubicon and is now a charter member of the far-left, progressive caucus. 

Stephen Moore doesn’t buy argument that $3.5T budget bill will cost ‘zero’

Economist Stephen Moore responds to President Biden’s senior adviser Cedric Richmond insisting that the Democrats’ $3.5 trillion budget reconciliation bill will cost “zero” due to tax hikes on the wealthy.

So of course, my own mantra remains: Save America. Kill the bill. In fact, kill all the bills. But it's going to be one big bill. Now I have a couple of thoughts about this one big bill.

It's interesting, to me at least, why other so-called moderate Democrats haven't rallied behind Manchin and Sinema. President Biden completely shot down my friend, Democrat Josh Gottheimer. 

As the President and Mrs. Pelosi took Josh and his moderate pals to the cleaners – that was last Friday. But the people who want a separate infrastructure vote are Manchin and Sinema. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

So the question is, why haven't Josh and his pals rallied to their cause? Josh, my friend, I talk to you, are we going to be a profile in courage to quote my hero JFK? Or are we going to just give up our flag and surrender to the far-left? Which is it? Josh, you're always welcome on this program any time to talk about this. You're a good man but I’m surprised you haven’t stood up for Manchin.

Finally, folks, one last point. Of all the people, actually, AOC just got something right. She said it's not about the topline number. It's about the policies under the hood. Well, ok. Here's where Manchin and Sinema are completely and totally right on policies. Transfer programs and entitlements should be strictly means-tested, limited in scope and limited in time. 

Rep. Jason Smith on Democrats’ spending plan: A lot of ‘budget gimmicks’ involved

Rep. Jason Smith, R-Mo., argues the left wants to ‘expand government more and more’ so they have more control over the lives of Americans.

And, perhaps the biggest "and," all of these programs should contain workfare. In fact, I would add education requirements to workfare requirements. This is where Manchin and Sinema have the story completely right. And every sensible person should support them. 

The far-left won't, nor will the far-left accept the Hyde Amendment, which prohibits federal funding of abortions and has been the nation's law for 41 years. I believe Manchin is completely right on this one too. But I don't see the left-wing progressives agreeing to any of these policy points. So it’s going to be a big problem.

CLICK HERE TO READ MORE ON FOX BUSINESS

So, let the games continue. Mrs. Pelosi says Halloween is the new deadline. Oh my god, how fitting? Halloween. All I’ll say is, save America. Kill the bill. In fact, kill all the bills.

Source: Read Full Article