larry: hello folks, welcome to kudlow, i'm larry

kudlow. breaking now, our top story, the senate has no border closing or a international security funding bill, in a few moments we'll speak with senator james lankford, but first to our white house correspondent, great peter doocy for a run down on today's always exciting white house briefing. peter, what can you tell us? reporter: larry, i can tell you something new. admiral john kirby does not usually step up on microphone for political messages he was political in calling out house republicans who will not sign off on new money for ukraine without changes to border policy. >> i sure hope that those house republicans who have for months held hostage assistance to ukraine, heard putin's message, instead, they are heading home for holidays, while ukrainians are heading back into the

fight. fthey will face more shelling, more air da attacks and more cold dark nights. reporter: president biden said we have to address the situation in our southern border, i remember determined to fix the problem we need funding to strengthen border security but republicans in congress will not act to help, some are saying bipartisan closed-door negotiations are going well. >> i'm more optimistic than a week ago. i believe that senator langford, our negotiators on both sides of aisle and most important the fact that administration is now involved. is making a difference. i am hopeful it is still not done. reporter: white house officials also tr criticize republicans in congress for planning to goo

vacation beginning the end of this week, no, word if president biden plans to cancel or delay any of his planned december vacations. larry. larry: all right, peter doocy thank you so much we appreciate your report. >> before we get to senator lang for length ford, here is a question, why has america come to hate harvard? or penn or m.i.t.? more carnegie owner fani elite yforts. -- fancy elite universities they lack the backbone to stop anti-semitism the same could be said about white house which set up a working group on islamophobia but not one on anti-semitism. this is tragic, and pathetic and awful.

back do harvard and its president claudine gay, she flunked anti-semitism test posed to her by house republican liter stefanik then tried mealy mouth back walking tactic later and now embroiled in a plagiarism scandal a number of expert pointed finger at the harvard president. you know in academic world, plagiarism is one of the biggest no-nos, not as big as anti-semitism to be sure, but a major, and punishable offense usually students and faculty get expelled for it. but not miss gay, h harvard corporations that study behind gay so far. then, the "new york post" wrote a scathingly detailed story about o how harvard

lawyers works to cover it up, normally in america you say 3 strikes and you are out. anti-semitism, plagiarism and a cover-up. how harvard does not top admit wrong doing for now they stick with claudine gay, many people believe she got where she got and remains where she is because of harvard left wing policy concerning diversity, equity and inclusion. and showing up for first time to help a bunch of harvard jewish kids light up hanukkah candles is so phony it will not change her shaking standing. anyway, harvard loss of money from large donors, but, there is a bigger money scandal regarding these well endowed elite universities that is they are permitted

by law to run tax-free hedge funds with en endowment one hand and recipients of massive volumes of federal spending on the other, a hat tip to "new york post," combine end endowment short of 100 billion, which capital gains from stock sales or interest on bonds is taxed at, 0. that is right, zero. ordinary run of the bill well to do people, they have to pay a top rate of 37%. or long-term capital gains for individuals of a top rated 15%. corporate tax rate is 21%. and dividend income at 37%. but for harvard, and other big shot schools, their tax rate is zero. and for all income combined, these schools have a top tax

rate of 1.4%. on top of that, just harvard alone the beside 2.5 billion in varitiry tack free investment, they -- virtually tack free investment they receive 676 million from federal government grands and 349 million from state governments and 1.3 from tuition, that include federal loans like pel grants, government subsidies and tax breaks at ivy leagues schools or more heavily subsidized than students at public universities. state schools. in inequity on top of their left wing social policy, as well as their spiraling anti-semitism, should be totally changed. at the very least there should be a heavy cost imposed on these schools.

now, ohio senator jd vance tweeted about his bill, that would tax largest en endowment at 35%, not 1.4%, to impose consequences on the dei and woke insanities, hor vharvard and the others may still hate america and hate traditional american values but at least they will find that hatred to be more costly than the free lunch they are getting now. by the by, mig my, pal tax expert grover norquist will join us later in the show to tell us why american needs to tax harvard. now to the unfinished business of protecting america's border, welcome back. republicans lead negotiator oklahoma senator james langford. -- lankford, you are kind to

come back. it was "wall street journal" story, yesterday. don't know if this is true, but they said some progress may be in the works, i want to ask you, you tell me, they mentioned a title 42 type expulsion law it is called. so that will allow government to turn away asylum seekers, now, i would think is more like remain in mexico, but maybe you can tell me what the nuances are, there would be thresholds, and or maybe there will be held in decenttion centers, i don't know. but that is what i read in yesterday's "wall street journal." on-line last night, it was in today's paper. is that true senator lankford? >> so none is true until it is written down and we can pass it. there have been a lot of ideas laid out, i have been

an advocate for that from the beginning, you don't control your voter if you -- the number of people that come across your border is managed by a criminal organization in m mexican cartels who now run our borders. that is one of the ideas, until we get agreement we can write it down, and everyone can see it, nothing is settled. there are good ideas we laid out. we're tati waits to get white house to sign a piece of paper. larry: how is that different from trump's idea, that worked so well, of remain in mexico? >> remain in mexico required a bilateral agreement with mexico, they had oagree how they would handle and, this administration, biden administration was forced to did remain in mexico but they did is so complicated there was something like 47

people they managed and millions of dollar they spent on the process, my focus is, depends on administration, if you set up authorities, that make it real clear regardless of your administration, that is a bit wear to do it at-this-point, if we got trump nick nim any republican in white house they would handle this border different from this administration. larry: so, a you reimagine remain in mexico, it resurfaces at title 42, title 42 was a wh health measure, there are still a lot of health issues tied up with biden's illegal immigration policies. you need both. you need remain someplace,

and you need a new title 42 to deal with health issues. >> yeah, so this is not a health related, this is authority related people compare to title 42, that something they are used to and saw during the pandemic how it worked it is how you control your own border, yesterday there was over 10,000 people that crossed border. there is no way to manage that 9 thousand between the ports of entry. they were released by the thousands yesterday. it has to stop, that is a national security risk, if you're outside of washington you understand it, if you are in washington, you think that border security is a political issue, no one outside 202 area codes believes this a political issue, this is a national security issue. larry: next thought, as you reimagine these, or relabeling them is there any

money that is reimagined into this bill, that might build out the wall which was didn't you know in part by former president who wishes to be president again? as far as i can tell you, all of republican candidates would like a wall. the hr2 bailout of the house wanted a wall. as that wall made a new appearance? >> this dpaj administration used their wall funding that was set aside for 5 year funding, this administration was using same colors for environmental remediation around the wall, you add wall dollars to them, they will find ways to not spend it on building fencing, you add them to someone determined to national security it is different, we have think smart in this right now, biden administration based on how the bill was designed 5 years ago, it compelled to build several miles of

wall. they are building right now. because of actually how the original bill was designed. but it took them three years to struggle through to get to this spot that attorneys have told hem, rest of moneys that to be used for a wall, they have been squandering a lot of it, we have to get real security, there are placing that you can walk around the wall that were never getting recalled and canyons and mountains, our policy is a better determination rather than a wall, border patrol wants more wall. larry: cle clef -- it is clever to use wall money for climate change. where is it now, weekend, maybe senate will meet tomorrow or stay the weekend? or cots on the floor. you tell us. where is it at? >> no cots on floor, senate finished last vote of the week, a few minutes okay i will continue to go

through negotiations, most of my colleagues headed out, i'm not only republican in the negotiation, there are many others, that are going through i am the tip of the spire, there are republicans this house and senate that are giving input. we're keeping working i tell you i'm skeptical that cell it will be finish. we don't have -- they can so orally what they agreed, to until we see it in writing, that is a very different issue. larry: and i take it, president biden and/or his senior white house staff is finally engaged? or is that untrue? >> i have not seen president biden yet. in any of the negotiations or invited to personally negotiate with him, some of his staff have negotiated in this, that is helpful.

so we're working through this process, getting everyone at the table. larry: all right. well, i guess i wish you luck. the hell of an assignment for you, christmas. >> it is a pain to be able to deal work not just a merry christmas present to me but has to be done with 10,000 people a day crossing we have to stop this flow. larry: if if you did it would be a fabulous christmas present for the rest of america, i am say, you get high mark for your service of this reimagined border policy. senator james langford. lan lane great state of oklahoma. >> thank you. >> next up after years of prosecution and persecution. donald trump may finally get some relief from the supreme court. we have andy mccarthy to weigh in with kudlow

returns, senator lankford is giving it his best shot. who knows what will happen. you have to reimagine the whole thing. maybe that is my word of the day. i'm kudlow, merry christmas, wonderful, i'll be right back with more. market, you'll fd fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels because advil targets pain at the source of inflammation.

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larry: is donald trump about to get some constitutional help from the supreme court? interesting possibility, joining us now andy mccarthy, former u.s. attorney, fox news contributor, you got a new book coming out did i see that? >> no, i hope not. larry: all right, you would know. >> who has time to write a book? larry: that what i say. and way. back to this judge chutkan. dc judge of liberal persuasion but, while trump 's appeal issues of presidential immunity and while they appeal issue of

double jeopardy, chutkan said he will stop the presses and postpone any court hearings until the supreme court make up their mine, i guess that is true for the federal court, the u.s. court of appeals even though special counsel trying to get around it walk us through this this came out yesterday. as your show hit. and -- i don't know it sounded interesting and promising. >> yes, i yes, it is interesting. default position of federal law is that you try whole case including the litigation in the trial court first, then after it is all over, if there is a conviction a jury verdict and a sentence then the whole thing go to the court of appeals, there are hain full of issues that courts allow you to get pretrial appeal on. and one of them is immunity, because if you have immunity

from prosecution the offense is having the trial, not just potentially getting convicted. the other important doctrine of law is that in federal law, once there is an appeal, even if an appeal pretrial, the court, judge chutkan loses jurisdiction of the case, once chutkan ruled gain former president trump on his immunity trump appealed to dthe dc circuit and argued that have to freeze up the whole case. and he says, you know you can't do anything, she agreed yesterday she can't act on the case, until t appellate court decides it, this is important to trump

and biden justice department, trump is trying for delay, wanting to push it past election day and biden department, the whole point was to try to get him convicted before election day. larry: a for chutkan on say what she said, jack smith he wants to jump over the federal appeals court and to the supreme court. but, i will say, my editorial word not yours, phony that he is, he is also hedging his bets by telling appeals court to go faster, whatever, chutkan says, no we'll have to just wait. and wait is a good thing for donald trump. >> yes. wait is a good thing, i think, also that smith, i believe may have fumbled into a mistake here in his haste to get the immunity issue in front of supreme court, it understandable why he wants to go fast it has

been their plan, but, the only thing he wants to supreme court to look at is the immunity claim. and i think that once the -- what donald trump has always wanted to get the case in front of supreme court to look at the charges. because smith may have a better than even shot to win on the immunity claim, supreme courts never decided whether there former president has immunity from criminal prosecution for his presidential act, i think his charges in this case are very shaky. and what trump has always wanted is to get this case in front of the supreme court before the trial because if they have a trial and he gets convicted then the issue is would the supreme court throw tut the conviction -- out the conviction are, here is look at charges. larry: just one last thing, as i understand, as

nonlawyer. donald trump was tried over this matter while still president. and he was tried in the house and acquitted in senate. essentially jack smith wants to do the same them, like a do-over. >> that is double jeopardy, i thought that constitution was darn clear, that you can't have that. you a you are tried once and acquitted at president that is it. nno mork more, the last word on this for you, the issue of double jeopardy is -- you can't have that. you can't be tried and, acquitted then do over. >> well, double jeopardy under the constitution protects you from a second prosecution in the criminal courts for the same offense by the same sovereign. impeachment is not a criminal trial, it a

political providing and constitution says that a president who has been convicted in a senate impeachment trial can face lawsuit including criminal prosecution in the courts there is no jeopardy protection from double jeopardy against prosecution. larry: but he was not convicted. >> w that does not make a difference, not a criminal providing, not a legal providing. larry: you say it is political? >> impeachment? >> is it li political proceeding only about stripping political power. he does not face a fine like in criminal system. larry: you say, he may win trump could win on immunity trial, but, you are not sure about the double jeopardy. >> i don't think that he -- i don't think that double

jeopardy argument has much weight. the immunity question is a significant question and charges in the case, i think that trump would hit the gold mine if he could get the supreme court to look at charges in the case. larry: all right. and that seems likely, right, they will look at it? that pushes everything. >> they are the supreme court, they can decide what to loc look of at, they still have not decided that, we'll know more about a week. larry: do you think that john roberts, chief juster justice roberts wants to put it back in political game. >> i think he does not want to be put into the politics of 2024 election, if 4 members of court vote to take the case they cake the case -- they take the case, the thing about strong conservative majority in court, roberts has less ability keep the court out of cases he does not want them in then he had before, he still significant.

>> t thank you, andy mccarthy. >> coming up a live want from israel, it looks like idf is knocking out hamas left and right, now. when the bidens stop meddling this the strategy, we talk about it with idf special op veteran aaron cohen and interests keep falling stock prices are rising, i want to flirt with potential that deflation may be just around the corner, not the worst thing in the world, we talk about it with breitbart's john carney when kudlow returns.

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hi, i'm sharon, and i lost 52 pounds on golo. on other diets, i could barely lose 10-15 pounds. thanks to golo, i've lost 27% of my body weight, and it was easy. (soft music) ow! uh oh.

you, ok? no... i mean yeah. -just hit my melon. -yikes! should we see a doctor? i can't tell a doctor i slipped on a toy. i'm a triathlete! i had a concussion. most happen doing ordinary things. sometimes the tough thing to do is to get help to prevent serious damage. i like your sensitive side. don't mess with your melon. if you hit it, get it checked. larry: all right, turn to the israeli war. where idf is arrested dozens of hamas terrorists sheltering in a gaza hospital, nate foy on the ground with more in israel.

reporter: it has been a busy day militarily and politically, you mentioned mass surrender, 70 hamas terrorists surrendering, we learned more about the impeprime minister -- expected people line of the war, telling jake sullivan this war will take more than several months, looking at newest video out of gaza, idf continues to fight hamas terrorists in close combat, they were fighting them in a school and south in is khan younis, officials met with r red cross. demanding that israel's hostages receive me

medical care, and humanitarian cases worsens for palestinians, today jake s sullivan said he speak with netanyahu about transitioning from the war's current phase to a more precise phase. >> i told our american friends, our heroic warriors did not fall in vein, out of deep pain of their fall we're more determined than ever to continue to fight until hamas eliminated. until victory. reporter: sullivan made clear this u.s. will continue to support israel and its goal to eliminate hamas, notably he said that he believes that there is a diplomatic solution possible to negotiate a deal with hezbollah terrorists in lebanon to approve security situation for the israeli israelis who live on northern border.

they have been evacuated that hezbollah posed. larry: all right. thank you so much very much nate foy. be safe. appreciate these reports. >> joining us now aaron cohen, aaron you heard nate foy's report. this is a great, all these officers of u.s. government, national security advice rare aadviser stater-- s they start we support israel's, f, ofirs effort then that i want to give them all kinds of advice. and whole thing will take longer. that is you h have been telling us, i don't know, i asked this question, when will they stop meddling just

let idf do what it knows how to do and going to do. >> well, they will stop meddling 1 they release that thicker the handcuffs they put on israel, and longer it takes for israel to destroy hamas. physically. and ideologically the sooner it will affect u.s. national security. the longer it takes israel to topple hamas, the crazier it will get to united states. cutting back to what wray said he has not seen this much of a threat since 9/11. and more the u.s. is probably will start moving to get biden out of the white house, get someone in

there that understands the threat on micro and macro level, someone who is tough, and understands that israel is an expert on counterterrorism, when bibi gets on television, and said we have to des destroy hamas, he means it. we're at war, israel is at war, civilians get killed, no different from after and iraq. there is no different from any other in the western world that deliberately tries to kill the enemy while limiting risk to civilians, israel falls in line with that fed international law, problem is white house wants to have its cake and eat it too, it is slowing down operations, israel is pulling back really successful air campaigns that shell dag unit that join ter

terminal, that unit is the iron dome of the palestinians. we're not lobbying missiles on gaza from israeli side to takes out civilians we have commandos risking their lives to create a protective umbrella for the palestinian people. problem is that safe zone that were created, hamas is going in there,. all of the southern gaza, is now filled with 15 or 20 thousand hamas militants, wearing civilian closing, -- clothing, the numbers that are being respected is all bs. larry: all bs. >> i'll say it for you. >> all bs, astonishing to me that official organs, u.n.

forget about it but to my that the white house, would use this stuff too. because you of what you said, prince aaron cohen, i got the message. you know, don't know who to believe but at the end of the day inch everyone tells me, people on ground in israel, telling me that israelis are behind the idf. take the politics out not about mr. netanyahu who is a old friend of mine but take it out. israel people are behind the idf. >> they jumped on gold golda meir in the 70s, at the end of the day biden needs too shut his mouth blink ed blinken needs to stop yapping.

>> aaron cohen. >> all right. shifting gears. stoke market hot, kudlow trust doing well. interest rates keep falling, stock prices rising, i want to put this up we have brilliant john carney, breitbart economics and finance editor. john, check out this chart. this chart is for off the chart, chart. we have is the two lines. one is a 10 year bond yield. the other is the crb commodity index, they work together, when interest rates were going up like in spring and summer commodities went up, booming. now interest rates are coming down. i don't know in early mid sift.

september and commodity down about 15%, 10 year is hovering 4, below 4. >> a almost 3.9.. larry: i'm saying i think we're headed for a boat of deflation -- bought of deflation. >>s specially after our inflation people will take i deflation any day of the week. larry: a harder landing in short run. stock market is not signaling a big crash. i'm saying be sober about the outlook in next two or four quarters, i think that -- i don't care what the fed says i am more interested in figuring out what mr. market says. >> insane message, br,

pricing in 7 rate cuts next year that is exuberant, they will be accused of trying to fix the election, they will stay walker. i think that -- stay away, i think market is over exuberant. if the market believes there would be a deep recession, 7 cuts is easy but we're in a weird way where people predict the economy will be fine and fed will cut at every meeting other than january. right now pricing in 60 to 70% cut in march, that is two meetings away, they say, we'll have a cut in march, i don't get it. larry: i say, when i was in that game on wall street, and loved being in that game, i wish i could cover it more, such is life. it is more useful to follow the market signals what we

called wayne angel market price signals alan greenspan, it is to parse through the fed, fed stuff can be a fool'se errand. when i see a chart like that chart, relationship between interest rates and commodities has not broken down. >> one thing that gives me hesitancy about the idea we might have a slight downturn next year is how strong retail sales are,.. >> prior two months were revised downwards. i am a numbers guy. i'm okay. i'm saying that. a lot of middle class people, young people, would would be happy to get price relief, cpi up go 15% last 3

year that put things like milk and gasoline and poultry, they are on the the high but way above 3 christmases ago, they would be a welcome relive, the fed it let some deflation happen, don't go crazy and ease off the bat, throw your phillips cur curbs out the window. >> the fed is upside down, they have an they should be worried about inflation not worried about i did plague -- deflation. that is why we have high inflation. >> and bidens keep spending like drunken sailors. the kudlow trust continues to own s&p index period. >> i am up a lot this year. >> me too, i almost feel wealthy again, thank you, john carney.

wonderful thing. >> we'll talk about why america hates harvard. and wants to make it costly for harvard to keep hating america. all right, stay with me on this we have great grover norquist. americans for f tax reform with a few tips, make the harvards of world pay for their left wing nonsense, i am c kudlow, no nonsense here, we'll be right back.

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larry: 81 -- one more time why america hates harvard. all right. not just harvard, a lot of the big fancy schools, we bring in grover norquist. grover, i am not a taxer, you are not either, but i don't want them to have zero tax rate, they are running a hedge fund in the middle of this, pursuing anti-semitism, plagiarism, cover-ups of both anti-semitism and plagiarism and knows what else. dei and other crazy woke policies there should be a change help me.

>> there is, we could go on one of two directions, one, they get hundreds of millions billions of dollars major colleges from the federal government, look at that and say, if you are sitting on pile of cash the way you are, and or you are spending it doing crazy left wing things or promoting anti-semitism you know we pulls it back the number is getting smaller maybe zero, we have a tax on the increase in value of very large endowments that was put in for the trump tax cut. it was one of pay fors. for the job creation act that trump put together, we could revisit this when wic tend - --ic tend it out we need pay fors to make sure we can continue that.

using reconciliation and revisit tax put in first time, i would hate to raise a tax even on universities and give washington more money. , just transferring one left wing funding source to another. larry: is that 1.4% tax? >> yeah, roughly that. >> other side of the coin. we down want to raise taxes, let's have spending cuts, this money to the harvards of the world, by the way doesn't need it, and does not deserve it the way they are behalfing with the left wing social policies stop that spending put a foot down and stop it. go right after it and watch them, if harvard wants to the hate america we should make costly, right now it's a free lunch, i have to get out, what do you think? >> a lot of money to be saved. >> yes, sir.

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larry: that's it for kudlow, thanks for watching, folks. narrator: viewer discretion is advised. [music - inner circle, "bad boys"] (singing) bad boys, what you want? get on the ground, dude! (singing) what you gonna do when sheriff john brown come for you?