"Biden's Economic Policies Fuel Worsening Inflation Crisis, White House Responds"

Larry Kudlow criticizes the Biden administration's heavy federal spending, warning that it has led to rising interest rates and persistent inflation. He highlights the significant increase in federal debt and the negative impact on GDP borrowing. Kudlow argues that the administration's spending has caused an affordability crisis, with prices for essentials such as groceries and energy soaring, while real average weekly earnings have fallen. He concludes by cautioning against the belief that spending can lead to prosperity and suggests that the Federal Reserve should consider tightening money and interest rate targets.