Larry Kudlow: Biden gets another bottomless Pinocchio

. LARRY: HELLO, FOLKS, WELCOME TO "KUDLOW," I'M LARRY KUDLOW. ALL RIGHT, ONCE MORE WITH FEELING. JOE BIDEN ON THE CAMPAIGN DESPERATELY TRYING TO SELL SOMETHING CALLED "BIDENOMICS." YOU KNOW, MIDDLE OUT, BOTTOM UP. WHAT DOES THAT MEAN? NO ONE KNOWS WHAT THAT MEANS. HEAR THIS AND WEEP. PRESIDENT BIDEN: "BIDENOMICS" IS ABOUT BUILDING AN ECONOMY FROM THE MIDDLE OUT AND BOTTOM UP, NOT THE TOP DOWN. WHEN I

TOOK OFFICE THE PANDEMIC WAS RAGING AND OUR ECONOMY WAS REELING. LARRY: YEP. THERE HE GOES AGAIN. NOW, JUST ONE QUICK FOOTNOTE ON THAT ONE. THE ECONOMY WAS REELING AT A 6.5% ANNUAL GROWTH RATE. THAT WAS GIVEN TO HIM ON A SILVER PLATTER BY DONALD TRUMP. TODAY THE ECONOMY IS REELING AT 1% GROWTH RATE. BOSS BIDEN GETS ANOTHER BOTTOMLESS PINOCCHIO. HOW ABOUT THIS, UNLEASH PROSPERITY? THAT WOULD

BE MY KIND OF SLOGAN. A RISING TIDE LIFTS ALL BOATS. YOU KNOW WHO SAID THAT, JOHN F. KENNEDY. THE LATE GREAT SUPPLY-SIDER JACK KEMP TALKED ABOUT RISING TIDE LIFTING ALL BOATS. RONALD REAGAN USED IT ALL THE TIME. IN OTHER WORDS, EVERYONE EVERYONE BENEFITS FROM A PRO-GROWTH ECONOMIC POLICY. THE TROUBLE WITH BIDEN-HARRIS IS A STICK IN THE MUD CLASS WARRIOR. MIDDLER LOWER, UPPER, DIVERSITY, EQUITY, INCLUSION, WOKE

IT IS ALL LEFT-WING GIBBERISH. BIDEN SAYS MIDDLE OUT, BOTTOM UP WHATEVER THAT MEANS IS WORKING. SURE IT IS, JOE. COUPLE NEW POLLS OUT TODAY. UGOV JUST SAID 29% OF VOTERS, 29% OF VOTERS APPROVE OF HIS INFLATION POLICY WHILE 61% DISAPPROVE. OVERALL A RECENT AP-NORC-UNIVERSITY OF CHICAGO POLL SAYS 34% OF VOTERS APPROVE OF BIDEN'S ECONOMIC POLICY. 34%. SO, WE HAVE A WEE BIT OF A DISCONNECT HERE

BETWEEN HIS RHETORIC AND THE REALITY. OR, IN TERMS OF MIDDLE OUT, BOTTOM UP, REAL HOURLY EARNINGS, AKA MIDDLE CLASS WAGES, ARE FALLING 3% AT AN ANNUAL RATE. FALLING, OR REAL AVERAGE WEEKLY EARNINGS ARE DROPPING AT A 5% ANNUAL RATE. DROPPING. OR, FOR THE BOTTOM QUARTILE OF INCOME EARNERS, WHICH IS ABOUT $38,000 A YEAR OR LESS, THEY HAVE DECLINED BY 2.3%, AVERAGE RATE UNDER JOE "BIDENOMICS." FOR

THE SECOND QUARTILE WHICH IS 57,000 GRAND OR LESS THEIR REAL WEEKLY WAGES DECLINED BY 3.9% AT AN ANNUAL RATE. SO MUCH FOR MIDDLE OUT, BOTTOM UP, CLASS WARFARE. NOW, HOW ABOUT FOR THE ENTIRE COUNTRY, JUST ONCE, CUT OUT ALL THE CLASS WARFARE NONSENSE. JOE BIDEN MAKING ATTACKING REAGANOMICS. THINK AFTER RONALD REAGAN'S TAX CUTS WENT INTO PLACE IN 1983 THE ECONOMY GREW AT 6% ANNUAL RATE FOR

THE NEXT TWO YEARS, NOT 1%, 6%. AND THEN AFTER A SECOND ROUND OF TAX CUTS IN 1986 THE ECONOMY GREW AT A 5% ANNUAL RATE FOR THE ENTIRE SEVEN YEAR PERIOD OF HIS PRESIDENCY FROM 1982 TO 1989. NOW AFTER JOE BIDEN'S 2 TRILLION-DOLLAR AMERICAN RESCUE PLAN, WHICH WAS HIS LANDMARK POLICY, A 6 1/2% ECONOMY DELIVERED BY DONALD TRUMP SPUTTERED TO A 1% GROWTH RATE IN BIDEN'S

FIRST FULL YEAR, 2022 AND EARLY 23. AND AFTER TRUMP HAND DELIVERED A 1.4% INFLATION RATE UNDER "BIDENOMICS" IT SOARED TO A 9% INFLATION RATE WHICH DESTROYED FAMILY AFFORDABILITY AND WORKER INCOMES. NOW LOOK IT, HIRE'S THE MOST FUNDAMENTAL POINT I CAN MAKE. JOE BIDEN IS PURSUING THE MOST ANTI-BUSINESS ECONOMIC POLICIES SINCE FDR SOME 85 YEARS AGO. BIDEN HAS SPENT ROUGHLY $6 TRILLION, RAISED TAXES ACROSS THE BOARD,

GENERATED OVER $500 BILLION WORTH OF NEW REGULATIONS. HE HAS WAGED WAR ON FOSSIL FUELS, MORE WARFARE AGAINST SMALL AND LARGE BUSINESSES, PUT TOGETHER A MASSIVE VOTE BUYING GRIFTING INDUSTRIAL POLICY AND ENGAGED IN THE MOST CENTRAL PLANNING THIS COUNTRY HAS EVER SEEN. BIG GOVERNMENT SOCIALISM HAS BEEN JAMMED DOWN CRAZY LEFT-WING NOSTRUMS LIKE GREEN NEW DEALS, NO GAS-POWERED CARS, NO MICROWAVES, GAS BURNING STOVES. HECK YOU CAN'T GET

DECEMBER WOOD AND COAL-FIRED PIZZA. CONSUMER PRICES HAVE GONE UP 15.6% IN TWO YEARS OF THE ECONOMY IS STAGNATING, THE COUNTRY IS UNHAPPY AND THE POLLS ARE PLUNGING. STEVE FORBES CALLS IT MODERN SOCIALISM THROUGH THE REGULATORY STATE. ART LAFFER WOULD YELL THROUGH THE ROOFTOP TAXES HAVE CONSEQUENCES. GREAT FREE MARKET ECONOMIST, MILTON FRIEDMAN IS TURNING OVER IN HIS GRAVE. IF I DON'T KNOW MAYNARD CANES WOULD BE SCREAMING

STOP ENOUGH ALREADY. THOMAS JEFFERSON WHERE IS LIFE, LIBERTY, THE PURSUIT OF HAPPINESS. ADAM SMITH WOULD SEND ANNOTATED VERSION OF HIS BOOK WEALTH OF NATIONS. I CONCUR WITH THE GREATE