Larry Kudlow's boss under Reagan warns: 'He's going to help Trump sleepwalk into a tremendous' budget disaster
CNBC analyst Larry Kudlow is heading to the White House as President Donald Trump's new chief economic adviser, but his boss from the Reagan administration isn't optimistic.
"I'd say congratulations to Larry, but unfortunately, that's about as far as it goes," David Stockman, who ran the White House Office of Budget and Management under President Ronald Reagan and acted as Kudlow's former boss, told CNBC Tuesday.
"He's walking into what I think is an impossible mission," the former OMB director said. "It's heads, Trump wins, tails, Larry loses."
Trump, Stockman said, "is an incorrigible, life-long, rabid protectionist."
"It's primitive, he's never changed his mind, and he's not going to listen to anyone on these issues," he continued. "Including Larry."