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Congressman Krishnamoorthi Pokes Holes in Kudlow’s Previous Predictions at COVID Select Hearing

March 17, 2021
Press Release
Former NEC Chair Kudlow Predicted the American Rescue Plan Would Have A Negative Impact Even Though He’s Been Notoriously Wrong on Previous Predictions

WASHINGTON, DC – Today, Congressman Krishnamoorthi (D-IL-08) questioned the former Chairman of the National Economic Council, Larry Kudlow, at a Select Subcommittee on the Coronavirus Crisis hearing about his previous predictions on the COVID-19 pandemic and the Great Recession in 2007. As the witness for the Minority side, Mr. Kudlow’s testimony at the "From Rescue to Recovery: Building a Thriving and Inclusive Post-Pandemic Economy" hearing was utilized to predict the American Rescue Plan, that was signed into law last week by President Biden, will have a negative impact on the U.S. economic recovery. In his question line to Mr. Kudlow, Congressman Krishnamoorthi noted that as a private citizen during the Great Recession in 2007 and as the Chairman of the National Economic Council in 2020 during the COVID-19 pandemic, Mr. Kudlow made several predictions that proved misguided as each crises developed.

Mr. Krishnamoorthi: In a CNBC Squawk Box interview you said on June 22nd, 2020, “I really think it's a pretty good situation. Fatality rates, incidentally — the fatality rates continue to decline. … So, all in all, I think it's a pretty good situation.”… You didn’t really believe it was a good situation on June 22nd, 2020, did you?”

Rep. Krishnamoorthi

 

 

 

 

 

 

 

 

 

According to the CDC, at the time of Mr. Kudlow’s June 22, 2020, prediction, over 120,000 Americans had died from COVID-19. That number in the United States today is approximately 540,000 deaths. Leadership matter and rosy projections during the height of the pandemic endangered American lives. President Biden has brought sober stewardship back to the White House, rapidly ramping up the vaccine rollout and helping Congress pass the historic American Rescue Plan.