With only five days remaining before the election, economic commentator Larry Kudlow is pressing Republican candidates nationwide to pivot their campaigns toward what he describes as a booming national economy rather than political distractions.
While political debates frequently center on controversies involving Democratic candidates and various campaign maneuvers, Kudlow argues that the central issue for voters should be the state of the economy. Pointing to third-quarter economic indicators released recently, he contends that the current expansion matches the robust growth seen during the Reagan administration in the 1980s.
Real Gross Domestic Product, the primary measure of overall economic output, expanded at a 3.4 percent annualized rate in the third quarter ending September 30. Speaking in South Carolina, President Trump highlighted the performance, noting that the figures exceeded 72 percent of economists’ forecasts. Trump emphasized that consumer spending is climbing, business investment is reaching record levels, equipment investment surged by 21 percent, and core inflation remains low.
Kudlow argues that other Republican leaders need to amplify this economic message more aggressively. He points out that consumer spending has grown at a nearly 4 percent annual rate over the past six months, adjusted for inflation, even as energy prices faced upward pressure due to Middle East conflicts. Business investment has also registered strong consecutive gains, expanding at a 15.5 percent pace in the first quarter, 13.5 percent in the second, and 21 percent in the third.
When combining consumption and investment after inflation, basic core GDP is growing at an annual rate of nearly 5 percent. Additional positive metrics in the recent report include a modest 2.2 percent increase for the overall GDP deflator, alongside manufacturing gains that feature durable goods orders and shipments rising by nearly 15 percent.
Labor market and affordability figures also point to broader economic shifts. Treasury Secretary Scott Bessent noted on social media that the economy has added 72,000 new manufacturing jobs year-to-date. Nationally, approximately one million private-sector jobs have been created since the administration took office, while federal employment has decreased by 328,000, signaling a broader reprivatization of the economy. Meanwhile, weekly unemployment claims remain near 60-year lows below 200,000.
Highlighting everyday household costs, Agriculture Secretary Brooke Rollins pointed out notable price declines for staple grocery items compared to increases experienced during the previous administration. According to the administration’s figures, egg prices have fallen by 54 percent from previous highs, butter has dropped 19 percent, cheese is down more than 6 percent, and milk has decreased by 5 percent.
Kudlow concludes that the combination of tax cuts, regulatory relief, expanded domestic energy production, and trade policies designed to attract foreign investment is fueling what he terms the hottest economy in the world. As the final days of the campaign wind down, he argues that the GOP should match the president’s efforts to spread the message of economic growth, border security, lower crime rates, and reduced federal overreach.
