White House economic adviser Larry Kudlow warns that Americans want to embrace capitalism and that the Democrat-led rush to socialism would set the nation back a 100 years.
“If you are not a socialist in your 20’s you have no heart and if you are not a capitalist in your 30’s you have no mind. I think right now poll is showing that working folks want to embrace capitalism, not some state-run, state-controlled socialism that will set our economy back 100 years or more,” he said.
At one point in President Donald Trump’s State of the Union speech last week, he made a sly reference to newly elected Representative Alexandria Ocasio-Cortez of New York, a Democratic socialist who has become a fascination on the right.
“We are alarmed by the new calls to adopt socialism in our country,” President Trump said, vowing that “we renew our resolve that America will never be a socialist country.”
For his part, Mr. Kudlow remained optimistic about the “very strong economy” despite some data triggering fears of problems in some analysts.
“My biggest concern frankly is that these pro-growth policies might be overturned and so many people in the opposition want to poison the well and poison the atmosphere,” said Mr. Kudlow.
“I do not think that’s going to happen and why President Trump’s State of the Union was so strong. We are not going to go to socialism. His speech in El Paso. You have to fight fire with fire. My view, you know, socialism is on trial,” said Mr. Kudlow.
“We, me, everyone in this group are not going to let these assertions and crazy policies pass without a strong rebuttal. That is going to be our position. The confidence in the psychology which is boosted by this president is the part that’s the most difficult and fragile. I won’t let that happen,” he said.
Mr. Kudlow’s sentiments echo Treasury Secretary Steven Mnuchin, who last week praised TPresident rump’s economic leadership and vowed that the nation go “back to socialism.”
“The US economy is doing terrific,” Secretary Mnuchin said last week “And as the President talked about last night, his economic plan is working. We are not going back to socialism. We’re going on an economic plan for America that works,” he said.