Let’s revisit for a moment the extraordinary importance of the Republican takeover of the House of Representatives. I still don’t think people have fully processed the significance of this policy event.
Certainly, the mainstream media is in denial about this, and it’s not about how big or small the margin is. As Newt Gingrich told us a few nights ago, there’s no such thing as a small gavel or a large gavel: There is only one gavel signifying the change in power. That means the new GOP majority sets the agenda: committee leaders, staffing levels, launching bills, subpoena power, and right down the line.
I’m hoping the new GOP House leadership starts off by reopening the oil and gas spigots. Fossil fuels permeate everyday life throughout our economy. More supply will reduce prices, end shortages, help to curb inflation, and rescue economic growth. It’s time to end Green New Deal socialism.
Also, let’s not forget that all money bills originate in the House. As Art Laffer told us earlier this week, it’s essential that the GOP signal clearly to everyone in the country — Republicans, Democrats, Independents, working people, young, old, minorities, everyone — that they are putting forth a program that will re-establish them as reliable stewards of a prosperous economy. Spending restraint. Tax cuts. Regulatory reduction. China policies to protect technology advances. Closing the border. National security.
Think about crime. High crime is antithetical to economic growth. It’s like a huge tax hike creating a barrier to new business, entrepreneurs, even going to work. Street crime is an absolute killer to ordinary commerce and trade of all kinds.
Lawlessness at the border is a growth killer. Proliferating drugs is another prosperity killer.
Let me add to this list the importance of maintaining a stable, reliable king dollar as something essential to non-inflationary price stability and overall prosperity. Think of it this way: Spending less, taxing less, regulating less, less money printing, more law and order, stronger sovereignty, a better parental run education system — all of these things are pro-growth. All of these policies are consistent with prosperity stewardship.
The new GOP House has a tremendous opportunity and an enormous responsibility to restore growth and, yes, Make America Great Again, again.
From Mr. Kudlow’s broadcast on Fox Business News.
Larry Kudlow was the Director of the National Economic Council under President Trump from 2018-2021. His Fox Business show "Kudlow" airs at 4 p.m &. and his radio show airs on 770 ABC from 10:00 a.m. to 1:00 p.m.
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