Kudlow: Nothing is going to change in the NY political economy
‘Kudlow’ host reacts to Democrat spending spree and Gov. Andrew Cuomo resigning
The Senate passes the $1.2 trillion infrastructure bill and is quickly pivoting to the $5 trillion-plus budget resolution and frankly no one in the Washington swamp has really gotten their arms around the collateral economic damage that this crazy spending, taxing, regulating, entitling and greening will lead to.
If it all passes, it won't be good.
Stocks are up 150 points today on the Dow. The booming stock market has basically ignored the Washington goings-on, so far, or else it believes little or none of it will be legislated.
I hope that's true, but frankly I'm very unsure and very worried. As a quintessential supply side, free enterprise, free market, Reagan-Trump optimist, I'd like to believe that there's going to be a happy end.
There always is in America, but right now I'm in one of those lull periods where the dark political forces seem to be having the upper hand, but of course we're going to keep on fighting against this.
No one in their right mind could believe, in the middle of an economic boom with rising inflation either temporary or long term, that we need $6 trillion of new federal spending or $3 or $4 trillion of higher taxes. No person with one whit of common sense could possibly believe that we need this.
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Pennsylvania Republican addresses the president’s tax and spending spree on ‘Kudlow’
So, we're going to talk about it during the show. I hope you'll stay with us.
As for the stage left departure of one Andrew Cuomo, there seems to be an empty feeling that he has escaped the consequences of his serious misdeeds regarding sexual harassment and the nursing home scandal, but we don't exactly know that yet. It’s just a surmise.
Thankfully for him he can stay in the governor's mansion because of the eviction moratorium expansion… and at least for another month or so he can collect jobless benefits, but here's the rub: nothing is going to change in the New York political economy.
The same crazy people are going to be running the New York state legislature and the lieutenant governor will be dominated by those socialists. They are spending, taxing, regulating and punishing success and driving people out of the state. None of that is going to change just because Cuomo has resigned.
In the city of New York, mayoral candidate and former cop Eric Adams is saying the right words: "refund the police;" "stop this no bail nonsense;" "put more cops on the street," but we don't know whether he can overcome the crazy people running the socialist New York city council.
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Curtis Sliwa will challenge Adams every step of the way and try to hold him accountable for his promises and lord knows if Eric Adams wants to take on the AOC socialists, I am all for it.
So, the chance for significant change looks better in New York City than New York state in Albany. So, we'll see.
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