Former Trump economic adviser Larry Kudlow took President Joe Biden to task over his false claims that his “Bidenomics” policies are actually helping rank-and-file American earners like Biden’s predecessor did.

In a column at Fox Business, Kudlow first took issue with Friday’s jobs report, which came in far less than the administration had expected.

“Nonfarm payrolls came in well below expectations, rising 209,000. Even that was the lowest since December 2020, but hang on a second – the prior two months were revised down by 110,000,” he said.

“So, actually, we saw only 99,000 new jobs in June and that is a very poor number. Plus, when you look under the hood of this report, private payrolls increased 149,000 – itself a very soft number, but 98,000 private jobs were revised lower in May and April. So, actually, there are only 51,000 private sector jobs created in June, a very poor performance,” he added.

Biden tends to overlook these specific details when discussing his plans for “growing the economy by creating jobs,” Kudlow noted. Furthermore, despite the significant hype surrounding Biden’s touted manufacturing boom, the actual outcome was a meager gain of 7,000 jobs in June, following a decline of 3,000 jobs in May. In total, the manufacturing sector only managed to generate 4,000 new jobs, he said.

“In fact, over the entire past year, manufacturing jobs have only increased 14,000. As noted earlier, manufacturing production has turned negative over the past three months. Plus, the ISM manufacturing survey has fallen for eight consecutive months,” Kudlow wrote.

“Plus, business investment is falling, and that’s a surefire recession warning. In fact, the entire jobs report is a recession warning,” he said.

The household employment survey, which serves as the basis for calculating the unemployment rate, experienced a rebound of 273,000 jobs after a decline of 310,000 jobs in the previous month. However, over the past three months, this survey has only recorded a modest gain of 34,000 jobs, he pointed out, noting further:

So, we’re in the double digits now for corporate payrolls, private jobs, small businesses and we’re in the single digits for manufacturing. Notwithstanding Biden happy talk, it’s a recession warning sign.  Meanwhile, average weekly earnings are up only 3.7% year-to-year, continuing below the 4% CPI and the 5.3% core CPI and while the White House and even Wall Street keep telling us about a strong economy, the fact remains we have been in a slump for the last six quarters, or 18 months.  

Former Congressional Budget Office Director Douglas Holtz-Eakin told Kudlow: “This is a messaging exercise. I don’t know what bottom up, middle out means either, but I do know this – when they say he inherited an economic catastrophe, that is not true. He inherited an economy that was growing at 6.3% and at 1.4% inflation.

“That was great, and I’m particularly irked as a former CBO director that he continues to assert that he cut the deficit by 1.7 trillion when the Washington Post, of all people, gave him a Bottomless Pinocchio for this,” he added.

Kudlow responded: “Well, gee whiz, I’d love to cancel the last couple of trillions of dollars of climate spending. That might end the debt crisis, lead to a balanced budget, bring down the inflation rate, and raise blue-collar, middle-class living standards. A little honesty goes a long way. I wish it percolated all the way up to President Biden. Otherwise, I still say Bidenomics is baloney.”