Veteran financial guru and former Ronald Reagan adviser Larry Kudlow is urging any impatience investors to just give President Donald Trump to fully enact his strategies to reform healthcare, spark economic growth and redesign the tax system.
After all, Trump has been in office a relatively short time and has inherited a mountain of problems from the past two decades.
“He’s trying to fix a lot of problems that have gone unfixed in the last 20 years,” Kudlow explained to CNBC.
“He still wants tax reform and healthcare reform. Those are big issues for him.” the Newsmax Finance Insider said. “He’s been in 80 days, give him a chance,” said Kudlow, who advised the Trump campaign on economic issues.
“He does want to rebuild infrastructure. He wants lower corporate tax rates where there’s incentives in Washington. That would be the best pro-growth thing, pro-competition thing we could do,” said the author of “JFK and the Reagan Revolution: A Secret History of American Prosperity,” written with Brian Domitrovic and published by Portfolio.
“I’m going to give Trump credit even though it’s unfinished, for heaven’s sake, he’s been in office less than 100 days. He wants to get rid of a major entitlement which could bankrupt the nation” in repealing Obamacare,” said the radio talk-show host and CNBC senior contributor.
Kudlow also urged anyone impatient to give the president a chance to fully enact his pro-growth economic blueprint.
“Growth solves a lot problems. That’s always been my mantra,” said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.
“When I say growth, I don’t mean government growth. I mean private sector, incentives, initiatives, rewards, entrepreneurship, business start-ups. That’s the heart of America. New things,” he said. “I don’t fear robots. I don’t fear artificial intelligence,” said Kudlow, who was a key architect of Trump’s tax platform and an early supporter of the real-estate billionaire’s campaign.
Kudlow also defended an apparent shift of opinion the president made this week after Trump accused China during last year’s election campaign of manipulating its currency to gain the upper hand in trade and vowed to label the country a manipulator on his first day.
“One reversal I like very much is the currency manipulation. There’s no evidence that China has manipulated,” Kudlow explained.
Trump on Wednesday said he won’t brand China a currency manipulator, retreating from core campaign promise, though he argued that a strong dollar is hampering the ability of American firms to compete.
Trump, in an interview with the Wall Street Journal on Wednesday, appeared to acknowledged that China hasn’t been intervening to weaken its currency recently. “They’re not currency manipulators,” Trump told the Journal.
“Since the original link to the dollar back in 1994, the yuan is up 40% or 50% and in the last year spent a trillion dollars defending the yuan so I’m glad he saw that. That’s a fact based changed and glad he did that. That reversal was good.”
To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com
(Newsmax wire services contributed to this report).