U.S. economy rebounding strongly; fresh aid coming to unemployed: Kudlow

 

FILE PHOTO: White House National Economic Council Director Larry Kudlow talks with media during a break in a meeting to wrap up work on coronavirus economic aid legislation to prevent the spread of coronavirus disease (COVID-19) in Washington, U.S., March 21, 2020. REUTERS/Mary F. Calvert

 

WASHINGTON (Reuters) - The U.S. economy is rebounding "very, very strongly," and fresh federal aid will reach unemployed Americans in the next week or two, White House economic adviser Larry Kudlow said on Wednesday, shaking off concerns about a second wave of COVID-19 infections.

 

Kudlow, speaking to reporters at the White House, defended a reduction in the unemployment supplement to $300 from $600, saying stimulus measures should be reduced slowly as the economy strengthens.

 

"I think the economy is on a self-sustaining recovery and it's a V-shaped recovery," he said. "We're seeing terrific numbers."

 

Asked about concerns that a second wave of coronavirus infections this autumn and winter could derail the recovery, Kudlow said: "The hope is that the decline in cases and fatalities will continue. That's the great hope."

 

He said the number of infections should continue to decline since more Americans were now using face masks, maintaining social distancing and regularly washing their hands.

 

The U.S. Centers for Disease Control and Prevention (CDC) on Wednesday reported 5,460,429 cases of the novel coronavirus in the country, an increase of 39,318 from its previous count, and said the number of deaths had risen by 1,172 to 171,012.

 

Kudlow said the White House was looking at different ways to ensure that the payroll tax cut called for by President Donald Trump would be forgiven.

 

"As far as the payback is concerned, ... you could stretch that out over a long period of time," Kudlow told reporters. "So the payback won't be immediate and no one will be hurt."

 

He said the payback could occur over five to eight years since the budget window was 10 years. The amount in question was roughly $1,100 per worker for four months, he said.

 

(Reporting by Andrea Shalal and Tim Ahmann; Editing by Sandra Maler and Aurora Ellis)

 

-- © Copyright Reuters 2020-08-20

 

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Remember Trump's promise of $400 in weekly benefits? Now it's down to $300. And reports are that the benefit may last as little as 3 weeks. Most states still don't qualify to distribute it. 

The Dems won't be happy about that, IMO. The better the economy gets the better Trump's chances of staying in the White House.

3 minutes ago, thaibeachlovers said:

The Dems won't be happy about that, IMO. The better the economy gets the better Trump's chances of staying in the White House.

If Larry Kudlow makes an assertion, then it's a pretty safe bet it's false. As the economy cratered during 2007, he denied that it was happening.

In 1993 he predicted that the tax increases under Clinton would throw a wet blanket over the US economic recovery.

In 2018 he falsely claimed that the deficit was coming down rapidly.

In 2018 He claimed that the US runs a trade deficit with Canada. The opposite is true.

In 2018 he claimed that the Trump tax cuts were paying for themselves.

On March 6 he claimed that covid-19 was contained.

On June 12 he claimed that there was no coronavirus second spike 

Looks like puffery to me I’d be delighted to be wrong tho a strong economy benifits all Americans ALL of us want that Donald is failing in lots and lots of ways health care race relations environment foreign relations not to mention epic corruption and collusion 

Cokehead Kudlow is shilling for Trump as usual.  Here's a graph which shows consumer spending turning down just at the point where the extended unemployment benefits have run out.  The next graph is of open job listings in small companies.

 

 

 

https://cepr.net/should-we-be-more-worried-about-the-economy/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+beat_the_press+(Beat+the+Press)

Tell that to the people facing eviction from their homes:

https://www.theguardian.com/commentisfree/2020/aug/17/us-cancel-rent-eviction-tsunami

1 minute ago, Chomper Higgot said:

Tell that to the people facing eviction from their homes:

https://www.theguardian.com/commentisfree/2020/aug/17/us-cancel-rent-eviction-tsunami

One of Trump's 4 points that he issued along with his fake claim of a $400 weekly benefit, was that the situation was going to be looked into. Problem solved!

there is a competition between trump and kudlow who can tell the most lies

Inflammatory post and reply removed. 

 

29 minutes ago, Chomper Higgot said:

Tell that to the people facing eviction from their homes:

https://www.theguardian.com/commentisfree/2020/aug/17/us-cancel-rent-eviction-tsunami

Look who thinks millions facing eviction is a laughing matter.

Guess Kudlow was on his second bottle of vodka when he made this announcements.Its been reported the man has a  major alcohol problem, this was evident last week when he did alive interview on the stimulus package to be announced.He could not come up with any accurate facts about what the package was and the interviewer did the right thing and cut the interview to save any further embarrassment. His track record highlights his inability to read or forecast any economic figures accurately.

2 hours ago, opalred said:

there is a competition between trump and kudlow who can tell the most lies

I will throw in Peter Navarro in the swampy mix. 

Too many years as a talking head and what an annoying sound! Total miscall pre 2008 GFC.

 

https://www.marketwatch.com/story/kudlows-history-of-bad-economic-calls-2018-03-15

3 hours ago, Chomper Higgot said:

Tell that to the people facing eviction from their homes:

https://www.theguardian.com/commentisfree/2020/aug/17/us-cancel-rent-eviction-tsunami

The US eviction tsunami is expected, but apparently hasn't happened, at least not yet:

 

https://www.bloomberg.com/news/articles/2020-08-18/u-s-evictions-are-down-during-the-coronavirus-pandemic

'I think the economy is on a self-sustaining recovery and it's a V-shaped recovery," he said. "We're seeing terrific numbers."

Is anyone stupid enough to believe a single word that comes out of this mans mouth? I mean what is this man on? 

Actually I know. It's vodka.

7 hours ago, thaibeachlovers said:

The Dems won't be happy about that, IMO. The better the economy gets the better Trump's chances of staying in the White House.

Not a chance this time , he hit lucky last time 

Edited August 20, 20205 yr by Ireland32

1 minute ago, Ireland32 said:

Not a chance this time , he hit lucky last time 

I bow to your obviously superior knowledge of US economics.

Good things found in economic data? Yes. But it's like a meth cooker who blew up his mobile home standing in the rubble and saying, "Look! The toilet still flushes."

4 hours ago, Paul Henry said:

Guess Kudlow was on his second bottle of vodka when he made this announcements.Its been reported the man has a  major alcohol problem, this was evident last week when he did alive interview on the stimulus package to be announced.He could not come up with any accurate facts about what the package was and the interviewer did the right thing and cut the interview to save any further embarrassment. His track record highlights his inability to read or forecast any economic figures accurately.

Soooooo. Nothing at all to say about the OP then?

 

I see you got a like from the poster calling for less smearing.

 

The Dems have a major problem. If the economy comes back by October, Trump wins large.

Only way the Dems win, IMO, is if the economy is bad, and that means millions of Americans will be suffering.

8 hours ago, thaibeachlovers said:

The Dems won't be happy about that, IMO. The better the economy gets the better Trump's chances of staying in the White House.

Oh pleeeeze. This administration only survives on its continuous lies and the naiveté of its supporters. 

1 hour ago, thaibeachlovers said:

Soooooo. Nothing at all to say about the OP then?

 

I see you got a like from the poster calling for less smearing.

 

The Dems have a major problem. If the economy comes back by October, Trump wins large.

Only way the Dems win, IMO, is if the economy is bad, and that means millions of Americans will be suffering.

Already plenty of evidence has been cited attesting to Kudlows dishonesty and/or incompetence. What more do you require?

8 minutes ago, rcummings said:

Already plenty of evidence has been cited attesting to Kudlows dishonesty and/or incompetence. What more do you require?

Something on topic would be a good start.

Just now, thaibeachlovers said:

Something on topic would be a good start.

And evidence that shows how badly got the current situation wrong is not on topic? Evidence what an incompetent economist he is also not on topic?

4 minutes ago, rcummings said:

And evidence that shows how badly got the current situation wrong is not on topic? Evidence what an incompetent economist he is also not on topic?

The topic is U.S. economy rebounding strongly; fresh aid coming to unemployed: Kudlow

It's not about Kudlow's economic skills.

10 minutes ago, thaibeachlovers said:

The topic is U.S. economy rebounding strongly; fresh aid coming to unemployed: Kudlow

It's not about Kudlow's economic skills.

Did you actually read the article? If so, you should know that this is Kudlow's claim for the economy and not an objective fact. Why anyone would choose to believe Kudlow after all his history of massive errors is beyond me.

Edited August 20, 20205 yr by rcummings

47 minutes ago, thaibeachlovers said:

The topic is U.S. economy rebounding strongly; fresh aid coming to unemployed: Kudlow

It's not about Kudlow's economic skills.

What are you not getting here? This is just Kudlow saying this. No one else is saying this. As usual you are listening to a compulsive liar and accepting what comes out of his mouth as truth. Find us 3 other independent and imminent econimsts who agree with Kudlow and you might have a leg to stand on. Here, I'll start you with 3 who DON'T agree:-

 

At this point, a V-shaped recovery is basically a pipe dream - https://economics21.org/the-vanishing-v-shaped-recovery?gclid=EAIaIQobChMIoY_xl7qp6wIVVw4rCh1tNQMlEAAYASAAEgLXUfD_BwE

 

The U.S. economic slide is likely bottoming out, but a recovery could take years - https://www.washingtonpost.com/us-policy/2020/06/04/economy-bottoming-out/

 

Economists agree: No quick rebound from recession is likely - https://abcnews.go.com/US/wireStory/gdp-report-show-damaged-economy-sliding-recession-70398623

7 hours ago, thaibeachlovers said:

I bow to your obviously superior knowledge of US economics.

Well, obviously superior to Kudlow's. Gotta say this for the guy, you can rely on him:

https://www.foxbusiness.com/markets/us-stocks-aug-20-2020

13 hours ago, rcummings said:

Did you actually read the article? If so, you should know that this is Kudlow's claim for the economy and not an objective fact. Why anyone would choose to believe Kudlow after all his history of massive errors is beyond me.

Given the topic isn't about me, perhaps you can provide some actual proof that the US economy is not doing better than last month.

12 hours ago, johnnybangkok said:

What are you not getting here? This is just Kudlow saying this. No one else is saying this. As usual you are listening to a compulsive liar and accepting what comes out of his mouth as truth. Find us 3 other independent and imminent econimsts who agree with Kudlow and you might have a leg to stand on. Here, I'll start you with 3 who DON'T agree:-

 

At this point, a V-shaped recovery is basically a pipe dream - https://economics21.org/the-vanishing-v-shaped-recovery?gclid=EAIaIQobChMIoY_xl7qp6wIVVw4rCh1tNQMlEAAYASAAEgLXUfD_BwE

 

The U.S. economic slide is likely bottoming out, but a recovery could take years - https://www.washingtonpost.com/us-policy/2020/06/04/economy-bottoming-out/

 

Economists agree: No quick rebound from recession is likely - https://abcnews.go.com/US/wireStory/gdp-report-show-damaged-economy-sliding-recession-70398623

Had you given something not from 2 news organisations biased against Trump, I might even take the time to read them.