Larry Kudlow fires back at Cory Booker's claim Obama deserves credit for economic recovery

Release date:
Apr 30, 2019

National Economic Council Director Larry Kudlow denounced Sen. Cory Booker, D-N.J., Sunday after the 2020 White House candidate said President Trump was "taking credit for a recovery that started under [former President Barack] Obama."

"What Mr. Booker and some others are saying is simply not true factually," Kudlow told Fox News' "America's News HQ".

Kudlow spoke two days after the publication of the April jobs report, which showed that the American economy added 263,000 jobs last month while the unemployment rate fell to 3.6 percent, the lowest since 1969. Despite the rosy numbers, Booker insisted that the boom's effects were not being felt across all economic levels.

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"You have people on my block – I'm the only presidential candidate that lives in a low-income inner-city neighborhood. Talk to folks, and they'll tell you: 'I have to work two jobs just to try to keep myself in housing. And, by the way, that housing isn't reflected in any of my family,'" Booker said on CNN's "State of the Union." "Americans are struggling. Their wages are too low ... for the last four decades, I don't think they've budged that much ... We've got to make sure that this is a shared recovery, because, right now, it definitely is not."

Kudlow emphatically begged to differ.

"I'm just gonna use the damn facts," he told Fox News' Leland Vittert. "On the wage front, [average hourly earnings are] rising 3.2 percent overall. The bottom [poorest] quarter [of workers], 4.4 percent increase, the top quarter, 3.5 percent [increase]."

"First of all, both are good and a rising tide is lifting all boats," Kudlow added. "But the point I'm making is, it's the blue collar people that have the fastest job expansion and it's the blue collar people that have the best wage growth."