Written by DML
Larry Kudlow, one of Trump’s favorite cabinet members, appeared on Fox Business with economy guru Stuart Varney Sunday. During the interview, Kudlow touted how wonderful the economy is going, but Varney defended the blue collar worker by asking, “with so many open jobs, why are we not seeing wage growth?”
Kudlow responded by saying wage growth did exist. But Varney pushed back and reminded him that the wage growth is not outpacing the inflation that comes with low unemployment, thus making the high costs of living a severe challenge for the middle class.
Kudlow said that he believes wage growth is a fraction higher than inflation. However, various economic reports show this to be a questionable claim by Kudlow. The cost of healthcare alone continues to scale in some states by more than double digit percentage rates.
Businesses do not want to pay higher labor costs and thus, the underlying reason why I believe Trump will not curb the illegal immigration at the border, and will not even mention the idea of implementing a national mandatory e-verify system.
One indicator proving that US workers are not putting more money in their pockets is the steady decline of new home sales, which are reportedly down again in September.
DML TV brings you the following must-see video. Watch and CHAT LIVE underneath.
Larry Kudlow on the economy: “Blue-collar workers are being employed at the fastest rates since the mid-1980s.” pic.twitter.com/Gezh6egzQW
— FOX Business (@FoxBusiness) October 21, 2018
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