Larry Kudlow Labels Democratic Affordability Narrative as Absurd

The Democratic candidates are repeatedly tweeting and criticizing President Trump and the GOP over the issue of affordability. This rhetoric is amusing, given that Trump introduced the term “affordability” during his 2016 campaign—a phrase initially ridiculed but instrumental in his electoral success.

With a temporary rise in gasoline prices linked to the Iran conflict, Democrats have revived the affordability narrative as a potential midterm election advantage, a strategy I doubt will succeed. Republicans point out that the sharp inflation spike—peaking at 9% and accumulating to 21% over four years—was driven by President Biden and the Democratic leadership.

The consumer price index averaged more than 5% annually under the Biden administration, compared with 1.9% during Trump’s first term, and has settled at 2.9% so far in the second Trump term. Although gasoline reached $4.36 per gallon, Democrats continue to criticize, while advocates of aggressive climate policies and the Green New Deal envision prices of $8 to $10 per gallon—reflecting their longstanding agenda.

Should they win, they would aim to eliminate gasoline-powered vehicles entirely—a notion that is unrealistic. The Committee to Unleash Prosperity highlights in its analysis “Who Shut Down American Energy?” that Biden’s policies halted offshore drilling, Alaska drilling, and the Keystone Pipeline.

UBS managing director Jason Katz analyzes the long-term bond market outlook as 10-year Treasury yields retreat from multi-decade highs following the ‘Kudlow’ discussion.

He also halted new oil and gas leasing on federal lands and reduced the pace and scale of federal drilling, effectively draining the nation’s oil reserves. With the current Democratic tilt toward socialism, further similar actions are likely.

California exemplifies the consequences of the Green New Deal, with gasoline prices reaching $6.37 per gallon—about $2 above the national average—and diesel similarly $2 higher. Such high prices result from heavy fossil‑fuel taxation, a trend that would likely continue if Democrats control Congress.

The true cost of socialism is beyond calculation. Republicans must emphasize this point in the upcoming 28‑day period, as the notion of Democratic affordability is untenable.

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