Lawrence Kudlow

Tags ››› Lawrence Kudlow
  • Kudlow In Wash. Exam.: Govt Shutdown "Doesn't Sound That Bad To Me"

    Blog ››› ››› MEDIA MATTERS STAFF

    In a March 8 op-ed in The Washington Examiner, columnist Lawrence Kudlow wrote that a government shutdown "doesn't sound that bad to me." In fact, as Media Matters has previously documented, experts agree that a prolonged shutdown could have a "meaningful" effect on the economy.

    From Kudlow's op-ed:

    Surely the Tea Party advocates will push the GOP to stay on message and stay the course. That's what November's elections were all about. And if a satisfactory deal cannot be reached, one that keeps the GOP spending-cut pledge and includes a spending-limit rule with real teeth, then why not shut down the government?

    Reading through various reports from the Wall Street Journal and the Washington Post, you get the sense that no great harm will come from a shutdown.

    Social Security checks will be mailed. Other benefit payments will be met. Air-traffic controllers will do their jobs. Border protection and military operations will continue.

    Uniformed military personnel will be exempted. The Postal Service will do its business uninterrupted. And incoming revenues can be designated for interest payment on the debt.

    Doesn't sound that bad to me. It sure isn't the end of the world.

    Back in the early '80s, when I served in the Office of Management and Budget under President Reagan, we went through several brief government shutdowns. Yes, the Washington Monument and a bunch of public parks closed.

    So what? Nonessential personnel got a holiday. The rest of us had to work.

    But nonessential programs were not funded during the shutdown, and their unused budgets were subsequently rescinded. Savings were significant.

    [...]

    Frankly, a government shutdown in Washington is a minuscule price to be paid for the greater good of financial solvency and economic growth. If the Republicans can't get the right deal for full-fledged spending cuts and a clear budget-limitation rule with severe budget-cutting penalties, they should go ahead and shut down the federal government.

  • Kudlow's Laughable Attempt To Credit Tea Party For Dow Surge

    Blog ››› ››› ERIC BOEHLERT

    Is there anything more amusing than watching partisan Republican pundits try to peddle the naive line about how electoral politics, of all things, is the driving buy/sell force on the floor of the Dow Jones stock exchange? And is there anything more amusing than watching those pundits always blame Democrats for bears, and always credit Republicans for bulls?

    Well, conservative columnist Lawrence Kudlow is here with the latest comic relief. Right on cue as the Dow opens the year with a strong rally, Kudlow announces that it's all due to the economic stewardship of Republicans, and specifically the Tea Party movement. But wait, stocks have been strong for several weeks running and during a time when Republicans didn't control anything in Washington, D.C., let alone dictate the direction of the economy. If politicians are somehow getting credit, shouldn't it be Obama and the Democrats?

    No way. According to Kudlow, the mere idea of Republican electoral gains has inspired investors for months [emphasis added]:

    The elections were the first major step toward restoring free-market capitalism and rolling back big-government controls, planning, and spending. This is a money-politics issue. Stocks roared 20 percent during the second half of last year, as markets sniffed out the huge political change. Post-election, stocks also had a big move, finishing the year at better than two-year highs


    going all the way back to pre-Lehman Brothers.

    See, investors picked up on the Tea Party momentum last summer and that's why stocks were up 20 percent "during the second half of last year." It's Republicans who get the credit, according to Kudlow, signing off on a completely illogical economic argument. (Can't you just hear buy orders from last summer: 'Buy today! It's very likely we're going to have a Republican Speaker of the House five months from now!')

    But here are some concrete holes in Kudlow claims that the mere possibility of Tea Party-fueled Republican electoral wins helped drive the stock market. First, between February and April last year, before Republicans were supposed to get credit for stock gains, the Dow climbed 225 points, so that was Obama's doing, right? Even more problematic for Kudlow is the fact that between May, 2009 and April, 2010, the Dow soared nearly 500 points. Again, all Obama's doing, right? Not according to Kudlow.

    Then note that during both July and August last summer, stocks suffered mild swoons. Who was to blame? It must be Republicans, if you follow the Kudlow Rule. Also, note that immediately following GOP wins in the midterm elections, stocks tumbled for two weeks straight. Again, based on Kudlow's odd logic, Republicans were to blame for that sell off.

    The point is that every time partisan conservatives try to pretend that electoral wins or losses are responsible for bears and bulls they just embarrass themselves in the process. So our advice to the Lawrence Kudlows of the world? Quit while you're behind.

  • UPDATED: Does NBC's ethics policy apply to CNBC anchor Larry Kudlow and MSNBC's Joe Scarborough?

    Blog ››› ››› ERIC HANANOKI

    Today, MSNBC suspended Keith Olbermann indefinitely for violating NBC News' policy and standards. As Politico first noted, Olbermann donated $2,400 apiece to three Democrats and "NBC has a rule against employees contributing to political campaigns."

    If NBC News' policy extends to CNBC, the network may have a problem with Larry Kudlow, the anchor of CNBC's primetime show Kudlow & Company and co-anchor of the noon show The Call.

    As Salon.com's Alex Pareene noted, in May 2009, Kudlow donated $1,000 to Christopher Shays for Congress (R-CT). Pareene wrote: "Unless Kudlow got explicit permission from the president of NBC News, this places him in direct violation of the NBC News ethics policy that led to the indefinite suspension of MSNBC host Keith Olbermann today.'

    In June 2006, Kudlow also donated $200 to Shays. In both instances, Kudlow listed his employer as "CNBC, ABC." Kudlow also hosts a radio program on WABC Radio and is syndicated nationally by Citadel Media.

    As Politico noted, a "2007 MSNBC.com story laid out the rules for the network regarding such contributions":

    "Anyone working for NBC News who takes part in civic or other outside activities may find that these activities jeopardize his or her standing as an impartial journalist because they may create the appearance of a conflict of interest. Such activities may include participation in or contributions to political campaigns or groups that espouse controversial positions. You should report any such potential conflicts in advance to, and obtain prior approval of, the president of NBC News or his designee."

    UPDATE: The Politico's Ken Vogel wrote the following on his Twitter account about MSNBC host Joe Scarborough: "AL records: $5k Joe Scarborough contrib to campaign in April http://politi.co/a7nTZv & he headlined an Aug FR for county GOP, sezs candidate."

    To add to Vogel's tweet, Scarborough is listed as headlining The Tuscaloosa County Republican Party's August 2009 Lincoln-Reagan Dinner. Scarborough is pictured on the website of John H. Merrill for State House; a description on the website states of the picture, "John is pictured here with Joe Scarborough, host of MSNBC's 'Morning Joe.' Joe served as the keynote speaker for the 2009 Lincoln-Reagan Dinner honoring Governor Bob Riley."

  • Kudlow echoes baseless Drudge headline on Obama supporters

    ››› ››› MATT MCLAUGHLIN

    Echoing a Drudge Report headline, Larry Kudlow asserted that "Obama supporters [are] saying he's the best president in history." Kudlow cited no examples of Obama supporters who have said this, and the Politico article to which the Drudge headline linked contained no such assertions from Obama supporters.