Optimistic Kudlow Addresses Discovery Attendees
NASHVILLE, Tenn. -- CNBC's Larry Kudlow painted some bright pictures for Discovery attendees.
He said the oft-discussed poor savings rate in America isn't as bad as people make out. "The government's numbers are phony. They don't include investments," Kudlow said. "We are saving through 401(k)s, IRAs and other ways the government numbers don't include. Those numbers are bogus."
Reports of the death of Social Security are also overblown. "The Social Security system is not going bankrupt. A vastly large proportion of the baby boomers will not retire at 65. I'll probably drop on the set of CNBC and a lot of my baby boomer pals will continue to work beyond 65 like I plan to."
On terrorism, Kudlow said there's no chance to derail the juggernaut American economy. "We live in the greatest country in the world. Our economic model is being imitated worldwide. The reality is Jihad terrorists' attempt to stop our economic well-being has not been achieved. Free-market economics are triumphing over the 'clerics'. What we have on our side is that we empower people, businesses and risk takers to produce to the benefit of the nation's economy."
As for immigration reform, Kudlow said, the government needs to be more focused on the real problem areas. "If you build a 50-foot fence on our southern border, they'll use 51-foot ladders to scale them or burrow under them. That's not the answer. I want our borders to be safe from terrorists, but you're talking about economic refugees from Mexico. Frankly, I'm more concerned about our border to the north, it's expansive."