Oh I get that part and he is right. It will only get worse with the Islamo-marxist in charge plus Pelosi and Reid.
The economy and free enterprise can only take so much. Things are not getting better.
Kudlow talks as if there will be no impact at all from cap and tax or Obamacare(which will get passed,even if it takes reconcilliation to doit) since it is the intent of BO to control both risk and capital via the government. Kudlow thinks on a macro basis whereas decisions made by the job creators, small business, non Wall Street, are done on a micro basis within a macro environment.Let’s look at BO’s record of prediction: Off 133% on this year’s GDP to the bad, and THAT MIGHT BE OVERLY OPTIMISTIC; revised GDP growth for next year down 60% ; off 18.75% and rising on unemployment and a mere 28.5% on projected deficits. If we accept the fact that our economy is predicated 60% or more on consumer spending, and it is, as unemployemnt goes up does the discretionary income needed to fuel economic expansion go up? NO. As costs to businesses and individuals go up due to cap and tax price inflation does that increase disposable incom for other conomic expenditures? NO, it doesn’t. As marginal tax rates go up on everyone after 2010, does that increase disposable income? NO. Does the impending inflation/increase in interest rates OR BOTH lend itself to having any disposable income for fueling economic growth,? Does the continual srinkage in tax receipts, at all levels of government lend itself to economic growth, other than that of deficits, which need to be financed and impact the capital markets? True, the markets will act, but they’re going to be constricted by the BO reality.