Larry Kudlow on the persevering with decision debate

Good riddance to the debt ceiling and that is the topic of the riff. President-Elect Donald Trump is completely proper: eliminate the debt ceiling.  

Good riddance. Eliminate it altogether! No person pays any thoughts to it. It is by no means enforced. All it does is open the door to mischievous Democratic makes an attempt to threaten authorities shutdowns if Republicans do not collapse to all of the trillions of {dollars} for his or her ultra-liberal applications after which they blame the GOP for the shutdown. 

Mr. Trump can also be proper that he would not need to take workplace with a debt restrict hanging over his new administration and stopping his tax minimize and border closing initiatives. In reality, holding the toothless debt restrict will intrude with your entire coverage agenda of the brand new president. 

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After all! That is why Democrats love the debt ceiling. It has no that means, but it surely throws a moist blanket over the improbable Trump honeymoon that he is having fun with. The Democratic management would love nothing greater than to carry Mr. Trump’s total agenda hostage, regardless that the voters have simply given Trump an unlimited mandate to alter insurance policies, finish Bidenomics and transfer towards a brand new Trumpian period of peace and prosperity. 

In the event you ever check out the howling concerning the debt ceiling, all of it comes from liberal media and liberal politicians, who by no means advocate for any spending restraints. Is not that attention-grabbing? In reality, within the present foolish season debate over brief time period authorities funding and the phony debt restrict, even the delicate Pay-Go requirement constructed into the final debt restrict deal in 2023 between then-Speaker McCarthy and President Biden has been thrown out the window. 

There have been no spending offsets to all of the loopy spending will increase embodied within the luckily now-defunct CR that went up in flames final evening. What sort of spending will increase? Properly, here is a number of. $100 billion catastrophe reduction, which might be ten occasions greater than it ought to be. $31 billion in farm reduction – approach an excessive amount of. Large new ethanol spending. The same old welfarist will increase for meals stamps and childcare – with no work necessities, as at all times. 

One other professional soccer boondoggle for the RFK stadium in DC. A pay elevate for Congress that may be justifiable, but it surely’s the incorrect second for it after which stuff that most likely no person is aware of what it prices – like 70 pages of one thing referred to as “pandemic preparedness.”

The CR would’ve buried all of the J-6 committee information – form of like a pre-emptive pardon for Liz Cheney. The one excellent news is that President Trump killed this persevering with decision invoice. 

Hopefully he can kill the debt restrict additionally and it is also price noting, that Mr. Trump is getting lots of assist from Elon Musk in all these endeavors. 

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In solely a brief time frame, Elon has turn out to be a serious political drive and it’s a drive for good and he is being helped by his DOGE brother Vivek Ramaswamy, who put a pointy pencil to the profligate 1,500-page CR that luckily was buried. 

Now, I would wish to see Elon crew up with President Trump and kill the debt ceiling altogether after which, Mr. Trump and his crew can embark on new “Golden Age” peace and prosperity, urgent on with their agenda to chop taxes, dismantle the regulatory state, seal the border, and “drill, child, drill.” Let’s fatten the wallets of blue-collar working of us, moderately than authorities politicians and bureaucrats and that is the riff. 

This text is customized from Larry Kudlow’s opening commentary on the Dec. 19, 2024, version of “Kudlow.”