LARRY KUDLOW: Biden's massive spending is a real inflationary problem

The Trump agenda is not inflationary. The New York Times in a long piece has now officially decided that the real inflation threat is Donald Trump and his policies. They are wrong. So, let’s review the bidding for a moment. Over Trump's four-year term, the level of consumer prices rose by a scant 7.7% for his whole term, which comes to 1.9% annually. Meanwhile, during Joe Biden's nearly completed term so far, the level of consumer prices rose 20% – or 6.1% annually. President Tr