Mike Faulkender and Steve Moore joined Kudlow on Fox Business to discuss the economy.

Mike Faulkender and Steve Moore joined Larry Kudlow on Fox Business to discuss the economy, focusing on the profound impact of Bidenomics. They explained that Bidenomics involves borrowing money from abroad, distributing it to consumers, and encouraging spending. However, this approach has led to significant consequences, such as increased spending on imported goods and regulatory burdens that stifle domestic production.

One key issue highlighted was the surge in imported goods, contributing to economic imbalances. Additionally, the administration's heavy-handed regulations, totaling $750 billion, have yet to fully impact GDP reports but are expected to further strain the economy. Faulkender and Moore argue that these policies discourage domestic production and innovation, creating a challenging environment for businesses.

They also debunked the narrative surrounding the Trump tax cuts, emphasizing that middle-income workers experienced significant gains, with inequality decreasing for the first time in 40 years during the Trump administration. In contrast, under Biden, inequality has been rising, with policies failing to deliver the promised "middle-out" economic expansion.

Furthermore, the discussion touched on inflation concerns, noting that despite nominal GDP growth, inflation has eroded much of this progress. They predict continued inflationary pressures, driven by policies that stimulate demand without addressing supply-side constraints.

In summary, their analysis of Bidenomics underscores the need for a balanced approach that fosters domestic production, reduces regulatory burdens, and addresses inflation to ensure sustainable economic growth.