Kudlow on new stimulus package
Committee on Arrangements for the 2020 Republican National Committee via Getty Images

White House Economic Adviser Larry Kudlow says he agrees that the economy needs another round of stimulus package.

However, Kudlow says that Democrats proposed about $ 3 trillion proposals and still include "unnecessary" unemployment benefits.

Kudlow is also head of the president's National Economic Council.

He acknowledged House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin "spoke several times" over the weekend on getting a new stimulus package before the election.

However, report says a deal is still unlikely.

Kudlow blamed "the other team" of Democrats for adding "unnecessary" and massive stimulus package proposals.

He reportedly ridiculed the said stimulus package proposal for continuing to include enhanced unemployment benefits.

He and other Republicans have long said that the enhanced unemployment benefits incentivized people to stay out of the workforce.

Kudlow said that they could not have more assistance for unemployment to continue.

He added that nobody in the White House or GOP is holding up this money intended for well-targeted investors such as airlines, schools, retail, and housing.

Kudlow agreed that a second inclusive stimulus package would help millions of Americans.

However, he blamed the Congressional Democrats for that not happening over the past seven months.

Kudlow described the PPP business loan program as a stroke of genius, adding that this shows a portrayal of the U.S. economy.

Kudlow said that the economy is now increasing 11 million jobs, 14 million household jobs, and a major drop in unemployment to 8.2 percent.

"Nobody expected single digits until early next year. Continuing unemployment claims, initial claims, all trending lower, and we're spending strong. So I think we're off to a great start, and we're out-performing expectations," Kudlow was quoted.

Kudlow added that the nation is rebuilding housing, retail, and automobiles, saying that these sectors are coming alive.

Kudlow said that the pandemic still exists, but we are beating it, economically speaking.

The White House adviser dismissed the negative data.

He claimed preliminary Census Bureau data, and a recent Federal Reserve report had shown a very positive view of the future economy.

Kudlow said that the Census Bureau data is a reliable source without question.

He added that the Census Bureau data has shown that poverty rates are down and inequality is down, while real family income is up significantly for his three-years pre-pandemic.

Kudlow added that Trump's policies worked.

The White House adviser said American voters should "stay with pro-growth" and do not embrace Democratic presidential nominee Joe Biden's campaign to "raise taxes" and increase regulations.

Kudlow said that this is no time, nobody should be arguing to make out of people's pockets.

The modified Democrats' HEROES Act has a $2.2 trillion price tag instead of the original $3 trillion.

The proposed stimulus package would include the extra $600 weekly in federal unemployment aid until January.

The Labor Department said that state-allotted benefits averaged $305 a week in August.

The aid amounted to $180 a week on average in some states like Louisiana and Mississippi.

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