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

Mike Faulkender, Chief Economist at the America First Policy Institute and former Assistant Treasury Secretary recently joined Steve Moore on Fox Business to analyze the current state of the U.S. economy. Faulkender highlighted several concerning economic indicators, including declining manufacturing output, a weakening labor market, and slumping retail sales. He noted that the private sector has been in a recession for some time, with government spending acting as a temporary prop for the economy. Faulkender emphasized that sectors such as healthcare and social assistance, heavily funded by the government, have seen job growth, unlike manufacturing and business services.

Faulkender criticized the Biden Administration’s economic policies, arguing that excessive government spending is unsustainable and will eventually lead to a recession once fiscal support diminishes. He stressed that the current economic strategy cannot continue indefinitely without severe repercussions. Steve Moore concurred, pointing out that the economy is experiencing secular stagnation, with growth rates significantly below potential. Both experts agreed that with proper policies, the U.S. economy could achieve much higher growth rates. They underscored the need for a shift in economic policy to foster robust, sustainable growth driven by the private sector.