Trump Taps Top Reagan Economic Adviser for White House Post

“I’ve known him a long time. We don’t agree on everything but in this case, I think that’s good. I want to have a divergent opinion,” the president said. “We agree on most.”

No Senate confirmation is required for the White House staff position.

Kudlow informally advised the president on the Republican tax reform bill, and he along with Heritage Foundation economist Stephen Moore helped draft the tax cut plan Trump released during his 2016 campaign.  “He’s a very, very talented man – a good man,” said Trump, describing him as one of his “original backers” during his presidential run.

Kudlow served Reagan’s Office of Budget and Management in the 1980s, following a stint as a economist at New York’s Federal Reserve Bank.

During Reagan’s two terms, the economy grew a third larger (that is the size of the entire economy of Germany at the time). Unemployment dropped to under 5%, as the economy created over 19 million new jobs. Meanwhile, revenues to the Treasury doubled during his two terms, due to the tremendous economic growth.”

marketwatch

Larry is a Television Economist - sort of like a weatherperson with the same expected results of 50% accuracy.

The article suggests that Trump only recognizes TV "experts" like Kudlow and Hesgeth because they are frequently featured on "news" TV.

Larry is much more than a TV man.  He’s been an economic advisor to a President before with good results.  

He’s been an economic advisor to a President before with good results.

I'm just guessing that you didn't read the article........

There’s no question that Kudlow is passionate and articulate, and knows his stuff and how Washington works—among his many jobs was working in Ronald Reagan’s Office of Management and Budget nearly 40 years ago.

But Kudlow left Reagan’s employ because he was unhappy that Reagan was jacking up the deficit with tax cuts. That didn’t seem fiscally prudent, so Kudlow, who was then in his mid-30s, just walked away. Yet President Trump is doing the very same thing: He just signed a tax-cut bill that will push long-term deficits sharply higher. For the record, it’s worth noting that Kudlow’s concerns about Reagan’s spendthrift ways were not misplaced: The national debt tripled during the 1980s

marketwatch

What’s that got to do with your point that he’s just a tv 📺 man?  

I guess if you do not read the article there is no point in talking to you.

He's a knowledgeable, articulate guy that loves TV and TV news shows love him.

His performance under Regan was not "good results" and he believes in everything that Gary Cohn believes in. 

How did that work out for Cohn?

More from the article;

And Kudlow has made some enormous and stupendously bad calls. In the fall of 2007, when the housing and stock markets were collapsing, he downplayed it, writing in National Review that, “Despite all the doom and gloom from the economic pessimists, the resilient U.S economy continues moving ahead quarter after quarter, year after year, defying dire forecasts and delivering positive growth.” Looking ahead to 2008—when the entire U.S. economy came crashing down and millions of Americans lost their jobs, and banks, automobile makers and mortgage lenders had it be bailed out to the tune of hundreds of billions of taxpayer dollars—he said “ we are about to enter the seventh consecutive year of the Bush boom .”

Anyone who thinks otherwise, he added with flair, “are going to wind up with egg on their faces.”

But wait: There’s more. Here’s one from 1993: “There is no question that President Clinton’s across-the-board tax increases on labor, capital and energy will throw a wet blanket over the recovery and depress the economy’s long-run potential,” Kudlow wrote. What happened next? The U.S. economy began an eight-year expansion, creating 21 million jobs—and the federal budget was balanced.

Let’s hope that Kudlow’s forecasting skills have improved with age.

The USA economic expansion did not really happen until after Clinton lost the house and senate and gop pushed for a balanced budget and they cut capital gains tax rates.  Cutting cap gains tax rates was the best thing Clinton ever did.  

Rrump and Kudlow disagree strong on tariffs:

Investors hope Larry Kudlow, Trump's new economic adviser, can tone down trade war talk

Investors are hoping Larry Kudlow, the CNBC commentator who is President Trump's new top economic adviser, can emerge as a "moderating influence" and help the U.S. avoid a trade war.

Tariffs have emerged as a fresh risk to the nine-year-old bull market in stocks. The Dow Jones industrial average headed into Thursday's trading session on a three-day losing streak amid trade worries but ended up, snapping the multi-day decline. Kudlow's new role follows Trump's move last week to slap tariffs on steel and aluminum imports into the U.S. and growing chatter that the president is set to impose similar taxes on an array of Chinese products entering America.

Tariffs are bad for the economy, and bad for the stock market. Hopefully Trump will listen to Kudlow (but I doubt it-- he may soon go the way of many of Trumps other picks

I think that Trump will limit tariffs to steel, aluminum, and a few strategic materials an industrial/tech nation has to be able to produce domestically to be a world power.  Other countries already charge us a higher tariff for most things than we charge for their goods.  Most of their retaliation threats are bluster and bluff as the net exporter nations have more to lose than net importers do if tariffs spiral.  Call the bluff and limit the tariffs and we will be fine. 

I disagree with Larry Kudlow'a RW economic dogma so he is an obvious pick by Trump. He is a trickle down econ devotee...

I agree 100% with Kudlow across the board on economic and tax issues. He is right on on every count.  A brilliant economist.  I am very pleased by this appointment and see him as a big improvement over the resigning economic advisor.  

Because Supply Side Economics worked so well the last time around?

The notion of Trickle Down ( it's yellow and it isn't rain) Economics was the beginning of our present economic (20 trillion and counting) dilemma.

“He’s a very, very talented man – a good man,” said Trump, describing him as one of his “original backers” during his presidential run.

Kudlow served Reagan’s Office of Budget and Management in the 1980s, following a stint as a economist at New York’s Federal Reserve Bank.

During Reagan’s two terms, the economy grew a third larger (that is the size of the entire economy of Germany at the time). Unemployment dropped to under 5%, as the economy created over 19 million new jobs. Meanwhile, revenues to the Treasury doubled during his two terms, due to the tremendous economic growth.“