Larry Kudlow

Media mogul Oprah Winfrey anointed him presidential heir-apparent on "Larry King Live." Three-thousand adoring fans clung to his every word in New Hampshire. His new book sits atop the New York Times bestseller list. Over on "Monday Night Football," he announced, after "a good deal of soul-searching," that he is ready (wink-wink) . . . "for the Bears to go all the way!" (How's that for free advertising?)

Barack Obama is on a big-time roll.

In a Washington minute, the Democratic senator from Illinois has the media saying, "Hillary Clinton who?" But every honeymoon must come to an end, and I can think of a few reasons why Wall Street might want these nuptials annulled fast.

Last Sunday, while stumping -- er, speaking -- in New Hampshire, the young senator delivered an interesting line. Attempting to explain his sudden rock-star ascendancy to the pantheon of presidential hopefuls, Obama said voters wanted a new vision: "It's a spirit that says we are looking for something different -- we want something new."

Trouble is, there's nothing "new" or "different" about Barack Obama. Behind that charm and charisma -- a media-entrancing appeal worthy of Bill Clinton -- is an extremely liberal-left politician.

Just look at his record.

Obama voted against the Bush tax cuts on capital gains and dividends, justifying his anti-growth stance with the old class-warfare saw about tax cuts for the rich. Of course, these are the very same tax cuts that spurred economic expansion, created record job growth and reduced the deficit, as revenues flooded the Treasury.

The young senator also voted against repealing the death tax. He dismissed it as a "Paris Hilton tax break" that would give "billions of dollars to billionaire heirs and heiresses." Try telling that to the owners of farms, ranches and small businesses who are forced to sell their legacies because of this tax.

He swings a nice protectionist bat, too. He has voted against free trade (CAFTA) and U.S. energy independence (drilling in ANWR), and has opposed lifting a $0.54 per gallon tariff on Brazilian ethanol. "Ethanol imports are neither necessary nor a practical response to current gasoline prices," he claimed. Nonsense.

He's also strongly opposed to personal retirement accounts for Social Security reform and prefers instead that the government steward your money. As Amanda Carpenter wrote in Human Events, "When speaking out against various tax cuts, Obama has likened the 'Ownership Society' -- which entails such things as personalized Social Security accounts, health savings accounts and school choice -- to 'social Darwinism.'"


Larry Kudlow

Lawrence Kudlow is host of CNBC’s “The Kudlow Report,” which airs nightly from 7 p.m. to 8 p.m.
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