The stalling of the Build Back Better Act in the Senate is not only a signal President Joe Biden’s agenda “is dead,” according to economist Larry Kudlow, but he added “we are watching his presidency crumble.”
“The really good news is that the bill is dead, at least for now,” Kudlow told Sunday’s “The Cats Roundtable” on WABC 770 AM-N.Y. “[The Democrats] will pick it up again, probably in February.”
“But,” Kudlow added to host John Catsimatidis, “the longer [the bill] pauses, the likelier it is to be killed. It’s in a lot of trouble.”
Kudlow praised the nonpartisan Congressional Budget Office which delivered a new CBO score on the bill.
“The CBO score card was $5 trillion in spending and $3 trillion in debt,” Kudlow continued. “The huge [inflation] numbers this week really killed the bill. And [West Virginia moderate Democrat Sen. Joe] Manchin is hanging very, very tough. He’s not giving in.
“He does believe more spending is inflationary. He’s actually right about that. He doesn’t want an entitlement state. He does want workfare. He doesn’t want amnesty [for illegal immigrants]. He’s not going to fiddle with the filibuster rules.”
Kudlow noted the sinking of Build Back Better will force Biden “to have to rethink his whole presidency.”:
“Right now, the Biden agenda is dead,” Kudlow said. “Everything he does turns to stone. He’s an extremely unpopular politician right now.”
Unlike former President Bill Clinton reinventing himself after a disastrous midterms in the 90s, Kudlow said Biden is too “stubborn” to change.
“So far, I don’t see any sign of it,” Kudlow concluded. “He’s not like Bill Clinton 25 years ago [when] Clinton got whooped in the midterms, and he shifted to the right, and the error of big government was over. And he passed welfare reform. And he cut the capital gains tax.
“Biden is stubborn. He’s totally committed to the progressive left. He’s anti-business. He’s anti-success. We are watching his presidency crumble right now.”