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Watch: Larry Kudlow Says Big GDP Numbers Are Just the Beginning

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Larry Kudlow, President Trump’s top economic adviser, touted the second quarter’s Gross Domestic Product number saying he doesn’t see any end in sight to the strong economic growth.

The U.S. economy expanded at 4.1 percent during the April to June time period, marking its strongest growth since the third quarter of 2014, The Hill reported.

By comparison, the GDP grew at 1.6 percent during former President Barack Obama’s final year in office in 2016. During Trump’s first year in office, the rate was 2.3 percent.

Kudlow dismissed the naysayers on Friday who say the 4.1 percent GDP growth is unsustainable, noting the lower tax rates for businesses and individuals passed at the end of last year, as well as other pro-growth policies.

“I don’t think this is the end of the numbers,” he told Fox News. “I was watching some TV this morning saying, ‘Wow, they got one, but it’s not sustainable’… Bulletin, it is sustainable.”

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Kudlow explained, “We’ve lowered tax rates, we’ve rolled back regulations, we’ve unleashed energy, we’re moving to fix the broken world trading system. You can see big numbers on capital spending, business investment.”

He predicted wage increases will also come “for ordinary working folks around the country. This is a good story.”

“My hunch is it’s going to go on for quite a while. It’s not just one quarter,” said Kudlow.

Do you think the 4 percent GDP growth rate is sustainable?

The former Reagan administration economist also lauded the nation’s strong economy during a news conference with Trump at the White House on Friday.

“I just want to note in the numbers — and this is becoming a trend — business investment is booming. Nine to ten percent growth in the first half of this year. I believe that’s going to continue,” said Kudlow.

“Why do I talk about business investment? he asked. “Well, that’s the key to productivity, which is the key to growth, which is the key to rising real wages and very strong jobs.”

Kudlow concluded, “And that’s why I agree with the President, this is a boom that will be sustainable. Frankly, as far as the eye can see, this is no one-shot effort.”

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At the news conference, Trump relayed, “We’re on track to hit the highest annual average growth rate in over 13 years. And I will say this right now, and I’ll say it strongly: As the trade deals come in one by one, we’re going to go a lot higher than these numbers. And these are great numbers.”

He noted that growth during both the administrations of Obama and George W. Bush averaged just over 1.8 percent.

“By contrast, we are now on track to hit an average GDP annual growth of over 3 percent, and it could be substantially over 3 percent,” Trump stated.

The president also proudly highlighted that the U.S. trade deficit shrank by $52 billion during the second quarter.

“That’s a tremendous drop,” Trump said. “We haven’t had a drop like that in a long time. You’ll have to go back a long time before you find it.”

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Randy DeSoto has written more than 1,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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