This Friday, Larry Kudlow, White House’ economic adviser, stated that “we can live without” another stimulus check. Soon after, Kudlow’s quote circulated on several social media platforms.
People were furious and had a lot to say on the statement. Mostly the opinion was that Kudlow was missing or ignoring crucial details in his unpopular assessment.
Kudlow’s address was for Bloomberg TV. He said that America would be fine without a second stimulus payment. Instead of a large package, both campaigns should agree on a “smart” bill that will help the economy.
Kudlow further said “Do we absolutely need it? No. I’m not going to precondition anything here…Right now, the economy is on a self-sustaining recovery path in my judgment and will continue along those lines, and will continue to surprise on the upside.”
Did Kudlow Have A Basis For His Statement?
Kudlow’s comments are on the basis of his idea that the U.S. economy is on its ‘V-shaped’ recovery path. That means that we have already faced the worst of the recession and things can only get better from here onwards.
But many economists believe that it is ‘W-shaped’ instead of ‘V-shaped’. ‘W-shaped’ economy points to yet another downfall in the horizon. It also hints at additional hits in the long run.
Response To Kudlow’s Statement On The Social Media Platforms
This address not only shocked but infuriated the mass of unemployed Americans. Many are unable to make ends meet due to the terrible impact of the coronavirus.
This statement, along with the speech delivered by Kudlow at the RNC 2020 seems highly short-sighted.
Americans took to the social media platforms and vented out their frustration with Kudlow and the U.S. government.
One tweet read “When this crashes – and it will – make sure to direct your ire at the people truly at fault… Powell, Williams, Mnuchin, Kudlow, Trump, Fink and Griffin created this. And they own it when it blows up. All of it.”
Some others consider Kudlow as highly unprofessional and said’ “Reminder: Larry Kudlow knows nothing about economics.”