day long. we're watching that developing story. all right dow jones industrials down 164 points. we're coming up on the closing bell. we're back here at ces tomorrow. we're moving locations. this team is ambitious. you heard rene haas talking about autos? we are on it. exclusive interview with mercedes-benz and we'll talk about that, with qualcomm's ceo. he have has a big thing on stage and i'm doing it with him. we'll do that. cathie wood on the potential for the bitcoin spot etf. [closing bell rings] liz: that will do it for us. nasdaq is holding on to gains. everything else in the red ♪. larry: hello folks, welcome to "kudlow," i'm larry kudlow. former president trump in court today in washington, d.c., arguing that he has presidential immunity in all these

january 6th cases. mean while over in georgia remember the anti-trump fulton county d.a. fani willis turns out allegedly in a romantic relationship with a top prosecutor she hired in trump's election interference case. the guy never prosecuted anything before. we'll get to all of that with our legal expert. sol wisenberg, former deputy independent counsel, gregg jarrett, fox news legal analyst, later on ranking republican roger wicker hurt for aol defense secretary lloyd austin. i don't know where he is. also another a rick schmidt why 95% of the legal immigrants get to say stay in america. plus, donald trump is up 30 point in iowa, 20 points in new hampshire. all that coming up on "kudlow." first head over to washington, d.c. where our own hilary vaughn is there live and in color. hilary, good afternoon, what's

cooking? >> reporter: good afternoon, larry. former president trump did not have to show up in court here to d.c. but he did just six days out from the iowa caucuses. president trump trade what would normally be a big campaign rally on the trail for a day in court. the reason why what combs out on this could be a game-changer for trump's legal problems. the key question these judges will decide after today, is president trump entitled to presidential immunity for his behavior. if they decide trump does have immunity it could effectively shut down the special counsel's criminal case against trump for alleged efforts to overturn the 2020 election before the case even goes to trial. trump's attorney, john sauer says trump does have immunity and that the behave in question by the special counsel were official acts, not private conducts and president trump was acting in his capacity as president. he also said it's not that presidents are immune from any legal consequences or above the law bah that impeachment and

conviction, the process laid out in the constitution, sets the stage for that if appropriate. the assistant special counsel countered the argument that blanket immunity for presidents saying it's dangerous if it's exploited. >> i mean what kind of world are we living in if, as i understood my friend on the other side to say here, a president orders his seal team to assassinate a political rival and resigns, for example, before an impeachment, not a criminal act. president sell as pardon, resigns, resigns or not impeached, not a crime. i think that is extraordinarily frightening future. >> reporter: president trump was in the courtroom today and so was special counsel jack smith. so the two got a taste of the face-to-face showdown that could happen first week in march if the doj gets its way. that is when the special counsel trial is set to begin. trump says this is all political and an effort to influence the 2024 election. >> i think it is very unfair

when a opponent a political opponent is prosecuted by the doj, by biden's doj. the opening of a pandora's box. it is a very sad thing that's happened with this whole situation. when they talk about threat to democracy, that is your real threat to democracy. >> reporter: so, larry the court will come out with its decision in a few days, it could be a few weeks. ultimately feels like the supreme court will have the final word on this issue. larry? larry: hilary vaughn, thank you very, very much. just a few comments from me on this and other things. i want to make a couple points about joe biden and his administration's serial inability to tell the truth. now, of course, defense secretary lloyd austin going awol a prime example. now we wish general austin a total, full recovery from all his health issues but his health

issues are not really the problem. the problem neither he nor his staff followed the proper communications chain of command and it sounds like a coverup and obviously it was a huge mistake. i will tell you a quick story. when i served in the white house i wound up in walter reed intensive care unit on two separate occasions but my staff immediately informed both the president and the cabinet secretary. mine were short stays fortunately and the boss even called me to see how i was doing. but there is nothing hard about all of this. it should be just common sense but then the situation room people knew. the white house operators knew. my colleagues knew. my team knew. now the problem is the defense secretary outranks the nec director so in terms of communications that office is much greater responsibility to let the president know. this is not about dying health

issues, it is did communication protocols apparently now team biden is ordering a review of cabinet protocols but that is so goofy. it is just common sense, not bureaucratic reviews should rule the operation. where are the adults? remember general austin is essentially run two wars under the direction of the commander-in-chief but here the commander-in-chief never called his top defense lieutenant and the sec-def figured he didn't have to let anyone know. coverup? truth telling? common sense? not a chance. but wait, wait, while this austin awol fiasco is going on, dhs secretary mayorkas got his caught with his hand in the cookie jar again. he was fibbing about illegal immigrants coming to the u.s. and staying here. he is trying to tell the news media only 70% of the illegals stayed here.

under questioning he raised it to 85%. of course both are awful numbers but wait a minute. it turns out when the immigration and customs enforcement. larry: i.c.e., did their year-end review, over 95% have been released into the interior of the country. hat tip to "breitbart news" for the numbers. in fy-2023 more than 3.2 million illegals were encountered at the nation's border while just 142,000 were deported by i.c.e. so last year illegal aliens who arrived in the u.s. had just a 4.4% chance of being deported within the year. mayorkas, not much of a truth teller, is he? of course from joe biden on down this administration keeps lying to the american people that the border is really closed. what are all those pictures we see on nightly news shows? closed, really, truth-telling?

then of course joe biden keeping us how he is cutting the budget deficit which is a flat-out untruth, awarded a bottomless pinocchio by "the washington post" and biden keeps telling us how good the economy is even though one recent poll shows 45% say they're worse off now than just a year ago. another poll shows 68% described the economy in negative terms. and over the past three years inflationary price increases have outstripped worker wages and that leads to the affordability crisis. no truth-telling there. and finally in the biden legal war against donald trump not only is the president and his justice department and various special counsels and democratic secretaries of state lying about donald trump's so-called insurrection which was neither charged nor convicted a new story from the georgia branch of

the biden directed legal war against trump reports that district attorney fani willis hired an alleged boyfriend to prosecute donald trump. this is a great story. fani willis hired a private lawyer who had never prosecuted anything before except maybe ordering a ham sandwich at the local deli. she appointed him special prosecutor and paid him $654,000 in legal fees since january of 2022. but this story getting even better. the two of them took the 654 grand on a world tour. vacationing on two cruise ships, going out to napa valley for a glass of wine and then coming back to florida for a little fun in the sun. i haven't heard the biden press operation talk about this yet but i'm looking forward to their response. think they will fess up with the truth? doubt it. that's my riff.

now, some serious legal expertise on all of this. we welcome sol wisenberg, former deputy independent counsel and fox news contributor and we welcome back gregg jarrett, fox news legal analyst and author of the constitution of the united states and other patriotic documents. sol, welcome to the show. let me start on the immunity issue. how do you read the immunity plea by president trump and are there will he appeal if he doesn't get it here and all the way to the supreme court? give us your take, sol? >> irrespective of the merits of his position i don't think he is going to win at the d.c. circuit. i think that's pretty clear from the oral argument today. so really the issue, the issue is how they are going to deal with it, whether or not the supreme court will even take it up. there are a lot of different options here. the court could just say you know what?

upon reflection we don't even think we have jurisdiction in this matter because it is what is known as an interlocutory appeal, president trump hasn't even gone to trial yet. or they can just decide substantively his immune claims are outweighed by the criminal justice system. if they do the latter it is much more likely to go to the supreme court. if they just knock it out on perjures dixal grounds, it is going back to the trial court and i think there is less of a chance the supreme court will decide to hear it. larry: let me just play some sound. hilary vaughn mentioned some of this stuff. here's the former president donald trump today. >> i feel that as a president you have to have immunity very simple. i think it is very unfair when an opponent, a political opponent is prosecuted by the doj, by biden's doj. i think this is the way they will try to win.

there is the opening after pandora's box. that is a very, a very sad thing that's happened with this whole situation. when they talk about threat to democracy, that's your real threat to democracy. larry: all right. greg gregg jarrett, first of all welcome back, happy new year. i just don't understand how you prosecute a former president for actions he took while he was president three years later. i have just never understood that. it has to me again, i'm not the lawyer, but i don't know how you get away with that, gregg jarrett. i just wonder, maybe immunity is not the best argument. maybe free speech is a better argument but what do you think? >> yeah. look the immunity argument is a hard one for trump to make simply because there is no precedent, larry, and based on the discourse today, i think sol is right, the three-judge panel

appeared skeptical that a president has an absolute immunity for any criminal acts while in office. that doesn't mean that trump's argument is not a credible one because it is. he acted consistent with his sworn duty to act and enforce all laws including the laws of free and fair elections. if he saw evidence of fraud or believed there was faulty vote counting, even if that belief was mistaken, isn't he entitled if not duty-bound to bring legal challenges? isn't he allowed to contest electors on january 6th just as democrats did in previous elections under the electoral count act? so you know there is immunity in civil cases. the question here is, does it extend to criminal cases? we just don't know. larry: sol, again, i'm the non-lawyer but you know to

gregg's point in a sense i don't know if immunity works or not. some people talk about double jeopardy. i don't know if that works or not but it just seems to me, sol, at bottom, donald trump as president at least exercised his first amendment right of free speech. he gave opinions about the election and i think they're trying to bust him for that, sol and to me that smacks of politics, throwing your major competitor in jail for 700 years or whatever. it doesn't smack of law, it smacks of politics, sol. free speech, how can you bust a president for that? >> well you make a very important point and you have to make a distinction between these immunity arguments which are purely legal arguments as well as the double jeopardy arguments and look at actually what jack smith has charged and i think it is a very weak indictment and i

think it is tinged with political issues and you're exactly right, such as isn't he allowed to speak about these issues? there is no question, for example, mentioned in the indictment is that he thought about firing his, acting attorney general and replacing him with jeff clarke and that is a quintessential executive act. that is clearly something within the presidential duties he has a right to do. i think there are real problems. you get beyond all the other legal issues there are real problems with this indictment and how it is going to go forward and how the trial will go forward. larry: gregg jarrett, of course we're running out of time, we always run out of time, we're famous for it, i want to get this fani willis. i don't know whether you know fani willis, i don't know whether you know the boyfriend. i don't know whether you got 650 grand for a couple hours of work. they're going on a world tour with taxpayer's money this story

just broke. i kind of like this story and i thought i would give you a chance to talk about fani willis and her boyfriend. >> this georgia case, larry was always tainted by political prejudice, manipulated evidence, and a complete contortion of the racketeering law but now, this resembles a screwball comedy starring fani willis and her surreptitious lover. it was pillow talk that led to the manufactured charges against trump. i think the trial judge needs to hold a hearing, demand answers. there is a huge conflict of interest, impropriety that is obvious, it is severe. if warranted the judge should then reprofessor these accusations against willis and her paramore to the state attorney general, christopher carr for immediate investigation. in the meantime pause the future trial until that probe is

finished and the public can be assured that you know the prosecution against trump was not poisoned by unethical and even corrupt conduct because that's what's described here. it is also disbarrable and potentially criminal. larry: right. >> she might want to talk to a good criminal lawyer in the near future. larry: she got as you put it so delicately, she has her paramore. i love that paramore line. that is why you're so good, gregg. you talk about paramourses. >> i'm just old. that's an old word. larry: me, i just call it the boyfriend you know. 650 grand. we're off to the world in a grand tour of vacations. it has been about 24 hours since the story broke. so far i have heard no comments coming out of georgia, coming out of the white house. i can't wait to hear how they will play this. thank you ever so much, sol

wisenberg, terrific to help us out. gregg jarrett as always. coming up here on "kudlow," dhs secretary mayorkas got caught with his hand in the cookie jar fibbing about the number of illegals being released in the country. we're up to 95%. wait a minute. who are those people? we can see it every night. anyway, senator eric schmitt is going to weigh in on that and "bidenomics" and a few other things. remember, folks, you can catch "kudlow" monday through friday 4:00 p.m. every day right here on fox business. and if you can't catch us at four just text your favorite nine-year-old and she will teach you how to dvr the show and you will never miss a thing and i'm kudlow. no paramores here. we'll be right back. ♪. you know what's interesting these days? bitcoin. look for bitwise, my friends.

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♪. larry: all right, as i said in the riff 95% of illegals stay in the country. the get is what can the gop do about this deplorable situation? let's bring in senator eric schmitt. he was former attorney general of the great state of missouri. senator schmitt as always, happy new year. so you were on a letter with a bunch of your colleagues to john barrasso. i talked to mr. barrasso today. you are going to have a republican conference meeting tomorrow. what do you want to come up

with, senator schmitt, on this illegal immigration disaster? >> well, there have been negotiations about what sort of language changes you know, could take place. i'm more skeptical probably than many of my republican colleagues, no matter what language change you have here you have an administration that is not interested in enforcing the law. they have the tools in place right now to secure our border. they don't want to do it. on day one they reversed all the things working under president trump, "remain in mexico," title 42. in fact when i was attorney general, when i was in that role we pushed back on court battles. we had to go back into court to enforce those judgments. it is not in their dna. this is open borders crowd. this is exactly what they want. for me i'm very kept of some sort of border deal which unlocks ukraine money which is what the democrats really want. larry: senator schmitt, the question i have, what might joe biden give up if you had a

serious negotiation about fixing the border and i think that is part of your skepticism? mr. lankford is working on this, and barrasso and a lot of smart guys but what, what would biden really give up, what do you think? >> well, my concern is he, joe biden is seeing the polling and may want to give lip service to the issue because he understands now he is completely lost the american people on this. 75% of americans now, i think it is even higher than that believe we have a real crisis at the southern border. i think they tried to ignore it. all the while this is part of their gameplan. this white house is filled, larry, with sort of these ivy league grads who have written these white papers on the benefits of open borders. they view themselves as global citizens, not really as americans. if you take that, if you understand what their ethos is, right, you understand why we're at where we're at, we have 8 million people who have come here illegally. those numbers are mind-boggling. how to put into perspective.

the national championship game last night was in houston. if you added up all the illegals since joe biden came into office, it wouldn't be 10 of those stadiums, it wouldn't be 50 of those stadiums, it wouldn't be 100 of those stadiums, it would be 117 of those stadiums backed and nothing will change and we take them at their word. it is not in their dna to have a secure border. i think we ought to be real skeptical in any of these reldiscussions. new york himself, secretary charged with enforcing law doesn't want to do it, didn't want to enforce remain in mexico in place, title 42, this parole process, larry, important for the audience to understand. these are supposed to be individual determinations on asylum or this parole process and they're making it in huge classifications. that is illegal right now. if you actually enforce the law as we have it, we could have a secure border. so some sort of language change. i'm not sure that will change the reality on the ground.

larry: i know, senator schmitt, you're a big fan of economics economics and we're going to put up on the full screen a recent poll. what's your financial state? 45% think they're worse off. 23 think they're better off, and 29 about the same. so almost half of those polled think they're worse off with "bidenomics." what do you think of that one? >> you trust the people. all this nonsense about a slogan trying to convince people doing better than they are with "bidenomics" has failed miserably. i think they stopped calling it "bidenomics." i don't know what they're doing but the truth is the average family paying $10,000 a year for the same stuff they were paying for a few years ago. people feel it. you have got this inflation issue not going away. as you know, larry, inflation is cumulative. this happened over three years.

inflation has not kept up with rising costs. the truth when you spend trillions and trillions of dollars you don't have like in washington and joe biden wants to spend another seven trillion and you declare war on domestic energy production the cost of everything goes up. the supply chain cost goes up everywhere. that feeling every time that feeling you mentioned in the polling is validated when they go to the grocery store. moms and dads know this. they're buying snacks for their kids they know this. when you go to the -- they know this. when the biden administration says don't believe what your eyes are telling you americans are calling bs own it. larry: michelle obama, speaking of politics, michelle obama is terrified at increasing probability that donald trump will be reelected, terrified. imagine that? grown woman terrified. somebody has to help her out. >> well that i'm sure in that mansion in martha's vineyard they're so worried about climate change, so worried about the

fear they have donald trump coming back into office. larry: all right. senator eric schmitt, missouri, best of the best. good luck in the conference tomorrow. thank you, sir, appreciate it. >> thank you, my friend. larry: yes, sir. coming up next on "kudlow," remember where's waldo? why did defense secretary lloyd austin really go awol? i don't get it. i don't understand the story. we're going to ask the ranking member of the senate armed services committee, senator roger wicker of the great state of mississippi. a little politics, latest polls, trump up 35 in iowa. he is up 20 in new hampshire. new poll shows trump leading in all the swing states. that is why michelle obama is terrified. we have i love company on the set of. all that when "kudlow" returns.

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going to washington, d.c., for the great peter doocy. peter what is the latest in this lloyd austin story story help is out, please? >> reporter: larry it is extraordinary. we're told in the white house briefing room president biden found out today the same day as the general public that his defense secretary has been getting treatment for prostate cancer. >> what happened here is the secretary of defense for whatever reason, i can't answer the question why, that information wasn't shared, wasn't shared widely in the department and certainly wasn't in the department. >> didn't know. >> it is not good. certainly not good. we want to learn from this. we want to make sure it doesn't happen again. >> reporter: and the big issue here is with transparency. the white house seems willing to accept austin's, not apology but his offer, his contrition where he is coming forward to say he should have done more to be transparent but they don't know why he waited so long to tell his boss, to tell others in the

chain of command. we asked about that. why should we believe anything that this administration tells us about anything ever again? >> i think we all recognize, and i think the pentagon has been very, very honest with themselves about the challenge to credibility by what, by what has transpired here and by what, and by, by, how -- how hard it was for them to be fully transparent with the american people. i think we all recognize that. >> reporter: so, here at the biden white house they don't see this as a biden white house issue. they see this as a pentagon issue. protocols were not being followed across the potomac with, the defense department, they didn't know here. so how are they supposed to do something in real time about something they don't know about? but that ignores the fact that

at a time that u.s. troops are under fire in the middle east president biden did not know for several days that his defense secretary was in the hospital receiving treatment for a very serious illness, we now know prostate cancer. larry. larry: peter doocy challenge to credibility. we have to remember that line, challenge to credibility. fabulous. thank you for reporting, appreciate it. all right, folks we'll talk some more on this. bring in senator roger wicker who happens to be the ranking member of the armed services committee. senator wicker, thank you, sir. you probably heard that report from peter doocy, challenge to credibility? i mean i don't get any of this. i worked in the white house years ago. you tell me, you're the guy in the senate armed services committee, what's going on here? >> well, listen, larry, it wasn't that long ago that you worked in the white house and we want you back. so i'm looking forward to that but now you're a member of the

fourth estate. listen, this does strain credulity. we were told this was an elective procedure and that the secretary went in for this elective procedure. now i wouldn't view prostate cancer surgery as a simple elective procedure and clearly when the ambulance comes to get you, in this case on the first of january, and takes you to the hospital and there are tubes running down into the abdomen, the secretary is incapacitated. the public needed to know and the statute needed to be followed. larry: that's the thing. you know, anybody in the -- defense secretary is a very big job as you know. >> right. larry: he is the top guy running really two wars, maybe three if you include the border but certainly, ukraine, russia, middle east, israel, so for the, hamas, secretary of defense a gigantic job.

>> he is part of the chain of command. larry: yes, sir. and i don't understand, senator, how he cannot exercise what i would call common sense, okay? let the white house know. let the president know or the office of the president, let the cabinet secretary know, let the situation room know. senator, this is not hard, if you look at it in those terms. this shouldn't be hard and yet austin made it hard and biden is contributing to make it hard? >> he made it worse on himself but further than that, larry, it is a violation of the federal statute. larry: oh. >> there is a reason under the constitution we have a coequal branch called the legislative brand. house and senate and the statute says not only let this be known up and down the chain but also make sure congress is notified. we're told now, and i've got to get this straight, which is why we need to have a hearing, we're told this has happened before. it is not unusual for the

authority to be transferred to the deputy and what i want to know is if this happens frequently, why isn't congress told about this frequently? if they feel the statute doesn't apply to them, then we can clarify the statute but i think there is no question about it, we need to be told if the law says it. it is not only common sense it's actually required by the law. larry: senator, do you want him to resign outright? what is your feeling on this? >> i don't think he is going to resign and i think we can put it past us. i'm glad at least we know what's wrong with the secretary but i hope everybody's learned a lesson here. what they want to do now is do an internal 30-day investigation. larry: oh. >> really with the same people doing the investigation that were actually part and parcel of this. >> yeah. >> we need to have a armed services hearing on this. larry: yes. >> if there is an investigation it needs to be done by an

outside inspector general. larry: yes, sir. senator roger wicker, thank you, sir, appreciate it as always. >> good to talk to you, larry. larry: all right, folks, we're going to follow up on this a little bit. anyway, switching gears, politics, trump up 35 in iowa, 20 in new hampshire in the latest poll. liz peek has another poll that says seven, okay, i don't know, we have a lot of polls. trump is leading in the swing states according to the polls. polls are not votes. we will vote soon in a couple of days. we have deroy murdock, senior fellow at the "american spectator" and contributor with the "daily caller" and a fox news contributor and liz peek syndicated columnist, fox news contributor and ace pollster. no, poll watcher. >> poll reader. larry: there you go, poll reader, i love that. deroy when roger wicker says there is constitutional issue you went thumbs up. it excited you. i'm interested in this avenue. >> i did thumbs up out of excitement because this story gets worse and worse and worse. first it was a matter, of gee,

secretary austin didn't call the national security advisor. turns out the president didn't know. at the didn't know for two weeks that he had prostate cancer. now it may be a violation of federal law. maybe actually broke the law but not alerting other people in the chain of command. it is as astonishing f the secretary was in for syphilis that would be embarrassing. larry: whoa. >> no dishonor in prosecute cancer. why did you cover that. i have pro prostate cancer doing best i can, people learn from my experience. he covered that up. big scandal. hearings on capital. the idea the adults in charge is total fraud this is kindergarten on pennsylvania avenue. larry: that's right. roger wicker is a smart guy, but a low-key guy. but he got this whole issue. they are breaking the law. liz, let's play some sound on nikki haley with bret baier and martha maccallum. here is nikki haley last night i

guess. >> right now the middle class we're watching the rich get richer and the poor get poorer. we're going to go to eliminate the gas and diesel tax in this country. then we're going to make sure we cut taxes on the middle class and simplify those brackets. and finally we'll make the small business tax cuts permanent. they made them temporary. they made the corporate tax cuts permanent. larry: look, i agree with the small business tax cut. i don't understand this. the rich get richer, the poor get poorer. what is that? it is a little class warfare. >> by the way you get rid of federal gasoline tax. everyone wants to get rid of it. trust me, i've been involved in this for years. you can't fund the highway system, you just can't. i don't understand what she is talking about. help me out? >> i think she is appealing to the majority of voters who are middle-class americans and i think also, in nikki haley's case she is now in headlines always portrayed as the recipient of wealthy donor

funding. so i think she is fighting back that image a little bit of being the darling of upper class america that would be my guess. larry: she is getting but wall street is backing her, aren't there. >> a lot of people backing ron desantis have shifted gears and now backing nikki haley. interesting "the ft" did a survey, published a survey yesterday, you will like this larry, shows 67% of republicans think donald trump is best trusted to run the economy to benefit them. nicky gets 8%, ron desantis 9%. however it has happened i would argue the real lived experience of living under donald trump for four years, americans and certainly republicans think he is the guy they want running the economy and that, maybe that's the game. that's it. larry: you know, deroy, not only the economy but look, i think one of the reasons mr. trump has done so well in the past year

and leading the polls and so forth, he is the guy that people think will bust the washington, d.c., swamp. and i'm talking you know, the fbi, the cia, the intelligence agencies, the career civil servants who say they're non-partisan but they're all left at thises not all of them but they shift left. they don't want any conservative reform. i don't really want to beat up on nikki haley. i don't know what her tax plan is, okay. it is very confusing. i'm just saying to -- trump is the guy you want to send in there who will bust the washington swamp if anybody can. >> i think that's right. one of the things people want someone who is tough, really seriously tough. i think that is a big part of it. it is inconceivable this whole thing with lloyd austin would happen under trump. he would be fired. he would made the call, if he didn't do that he would be out of there biden whatever, that's cool. all these scandals seem to roll off biden's back. nobody is in trouble. >> where is biden. >> nobody is ever fired.

larry: where is biden? i haven't herd a word from biden? out there giving stupid-ass speeches about insurrection shunnism. >> with trump he is in there a tough guy in charge. great song by james brown, papa don't take no mess. larry: i call it trump -- when biden called austin -- >> thank you. larry: do we know that? we have to get out. last 10 second. >> four our five days with our troops under fire i never spoke to his defense secretary. don't you find that a little odd? >> disturbing. on the beach in st. croix. what do you expect. on vacation. enjoy the waves. >> kathleen hicks -- larry: fani willis and her boyfriend. >> paramore. larry: with fani willis and her paramore going on world tour with all the taxpayer money. deroy murdock, liz peek, i take the rap for that, not them. coming up on "kudlow," american economy stinks.

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he's the economic editor and coauthor of the daily "breitbart" digest which is a must read. john, welcome back. the biden economy stinks. the polling here is really very bad, isn't it? >> yes. people asked how the economy is doing oar how biden is doing on the economy, give the same answer, it stinks. they really don't like it. when asked the question do you think things will get better next year? only 1/3 of people say it will get better. that is probably an overestimation by the way. the economy will not get better in 2024 than it has been in 2023. in fact everybody expects it will slow down. that unemployment will go up. people are absolutely right, that, if you don't like the economy now just wait. it is going to get worse. larry: and are you better off than you were a year ago or three years ago? that looks pretty bad too for biden. >> that's right. it's very bad. it's a very bad question for biden because, remember he ran

on i'm going to fix the economy. said look, the trump administration messed up. because they didn't handle covid right, so the economy is not doing well. i'm going to fix it. he didn't. people are poorer. they're behind. even though lately wages have been keeping up with inflation. larry: yes. >> over any multiyear period wages are behind inflation. people realize every time they go shopping that they can't afford what they used to be able to afford. that is a big problem for biden. larry: what is the story here? all of a sudden like the last four months they took out 450,000 some odd jobs. i think there's a small business breakdown. i don't think the bls models are working anymore but this revisions of lower and lower job creation, what does that spell, what's that mean? >> we have 11 months of revision. we don't have the december revision. i bet that gets revised that was a big blowout number. that will get revised down. out of first 11 months in a

year, 10 of them were revised down that rarely happens to get 10 out of 11 revisions. over the last four months all revised down. our friend joe lavorgna pointed out we haven't had this size of revisions 242,000 i think it is since 2003. 2002. i think it has broken down, post-covid economy. people have stopped responding. businesses are not telling the government anymore. i think that is an indictment of the government. i think people have lost trust with the government. when the government says how many people work for you? i think a lot of small businesses are i'm not sure i trust with you that information. larry: is it a recession signal? is it a weakness in small business generally signal? >> i do think small businesses are having a hard time and it is probably a signal that the economy is on the verge of weakness although we've been on the verge of weakness for a

while we just haven't tipped into it. larry: the inflation story is still going to be number one -- it is tied -- when you say the economy is the most important issue putting numbers up on the full screen i think, is it inflation, the overall economy? i just got 30 seconds? >> sure. when people say it is the economy or inflation, basically those are the same thing. i don't like how the economy is doing because inflation is so high. number one issue for most americans. also when people are asked, is it, what issue is very important to you? more of them say inflation than any other issue. it is very important for the election. so if you're a republican nominee you should run on the economy. larry: yeah. all right. john crash any of "breitbart," "breitbart business digest." got a cult following, thank you, john, we appreciate it very much as always. folks stick around, give a last word. maybe last word today is about truth telling. how about that?

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larry: my last word is truth telling. adults should tell the truth, sometimes it's not pleasant but you do it. these people, the bidens don't tell the truth. economy, immigration, lloyd austin. gosh, and i think the publish is tired of it. one person that always tells the truth is liz macdonald. that's why she's so great. elizabeth: thank you, larry. they sure keep us bus reigns leadingy; right? busy; right? right tohe