Kudlow warns Biden agenda will be ‘counterproductive’ for economy

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Larry Kudlow on high-stakes battle over coronavirus relief

FOX Business host and former White House economic adviser Larry Kudlow provides insight on ‘The Faulkner Focus.’

Fox Business host and former White House economic adviser Larry Kudlow told "The Faulkner Focus" on Thursday he believes President Biden’s agenda will be "counterproductive" for the economy.

Earlier this week, Democrats in Congress took the first steps toward passing a $1.9 trillion coronavirus relief bill via the budget reconciliation process, which would not require support from any Republicans. A group of 10 GOP senators met with Biden at the White House Monday to discuss their counter to the president's plan.

LARRY KUDLOW: It would be lovely if we had a more moderate bill. In fact, I’m not really sure why we need stimulus ... I think we’ve got a V-shaped recovery [happening]. We haven’t spent the earlier so-called stimulus or assistance and it seems like minimum wage increases are job and prosperity killers, if you ask me. So is killing the fossil fuel industry and so is open borders, which is going to be a job killer along the border.

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The logic here is completely wrong ... There is a turning point here with respect to COVID, which of course is the biggest driver. We have to get the economy and the schools completely open ... That’s not coming from stimulus.

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The GOP moderates have a decent idea. The Democrats are not going to buy it. They’re going to run through, it’s being pulled to the left. National Review editor Rich Lowry, my pal, says [Biden has had] ‘the most leftist presidency so far after two weeks.’ We’ll see, [he] may well be right. So, I don’t expect any miracles here. They’re going to drive through their agenda ... That agenda is going to be counterproductive, it’ll be counterproductive for the economy in the longer term.