intel seems to be stepping up to do it. this is a hard company to get excited about but this is a interesting moment. a lot of good things, and tailwinds for the company. liz: pat was on the show. the stock iser year-over-year up 70%, seven, zero, not bad for intel. we talked to jared bernstein from the administration, we're waiting for the announcement of the chips act money going to intel. good to see you. we're seconds away from the closing bell. you know what comes after that, nvidia earning. hey look, the dow, the s&p, look to close in positive territory. so they scratched back in. the nasdaq clocking its third day in the red. [closing bell rings] tomorrow's medtronic ceo will be here to discuss his outlook on the health care technology industry. that is it for the claman countydown. "kudlow" is next. he will talk nvidia too.

larry: hello, folks, welcome to "kudlow," i'm larry kudlow. former president donald trump struck a unity theme last night in laura ingraham's fox town hall saying my revenge will be success. mr. trump talked about migrant crime, drill, baby, drill, and described himself as a man of common sense. we'll have an all-star panel of mark simone, charlie hurt and joe concha. mr. trump also cited the eighth amendment that excessive bail shall not be required. we have victor davis hanson to weigh in on that one. senator tommy tuberville will be here to clean up the migrant crime. in the stock market we're going to get an earnings report on chipmaker nvidia. it could determine the entire market outlook. all right, my riff, former president donald trump gave a commanding performance last night on laura ingraham's fox town hall. the headline takeaway? well i thought his unifying message about getting this country back on track for everyone.

take a listen, please. >> i don't care about the revenge thing. i know they usually use the word revenge, will there be revenge. my revenge will be success. larry: just to underscore that unity message, mr. trump describes itself as a man of common sense. take a listen to this one. >> i'm a man of common sense. they say you're conservative, you're liberal, you're this, our that, no. we're people of common sense. we need borders. we don't want to give foreign aid to countries that hate us. larry: speaking of the common sense theme, president trump outlined his two top day one priorities. take a listen. >> two things i'm going to do. number one is drill, baby, drill, and the other thing equal, equal -- [cheers and applause] is we're going to, look i had the safest border in the history of our country. larry: so those are unifiers. so think about this, drill, baby, drill as become at least an 80% favorable issue. closing the border, stopping

what president trump calls migrant crime is probably a 99% issue. that is what passes for common sense. the country will unite around those two principles. drill baby drill, that would mean lower energy prices and an end to inflation. it is a huge economic growth booster rocket. it would also mean an end to the big government socialist green new deal hundreds of mandates that have been jammed down the throats of typical working folks who instead want to exercise their free consumer choice over things like gasoline-powered cars, microwaves, showers, toilet bowls. they do not want a bunch of washington bureaucrats to tell them how to live. that is another unifying message. of course closing the border is now embraced by virtually the whole country, including a bun much of blue state democrats. you know what? barriers work. texas governor greg abbott has shown with his razor wire

campaign that has greatly curtailed illegal crossings, so much so, that the battle has now shifted from texas to san diego. common sense people, can see this with their own eyes every night on the news. by the way, a wall would serve the same purpose, wouldn't it? ironically, illegals from all over the world including people from china, from syria, from africa, still have "remain in mexico" cards but they toss them away when they cross the border because they don't want the authorities to see the cards and then maybe deport them back to mexico. building a wall, "remain in mexico," catch and deport, well, all of that is common sense. drill, baby, drill, slashing grocery and oil prices, robbing russia's putin of war-time oil revenues, also common sense. these are unifying themes around the vital topics of promoting

faster economic growth, higher real wages and restoration of safety and lawfulness through the country. unifiers, common sense, when they're implemented they will put america back on the path to success. mr. trump last night talked about a number of other issues, including fair trade, a return to international respect for america, solving all these blow-ups around the world, middle east, ukraine, afghanistan, all things that formed his record during his first term and finally, finally, when asked why does he stay in politics in the political game throughout all the democratic lawfare, weaponizations, constant slings and arrows, mr. trump calmly replied, i will quote, i want to make america great again. it is not great right now and we can do that, end quote. that's my riff. all right, let's chew on this. joining me you no, charlie hurt, "washington times" opinion

editor, fox news contributor, joe concha, fox news contributor, and mark simone wor hall of fame radio host. gentlemen, thank you for coming on. joe, start with you. i mean you're kind of out there. we'll go chronologically or geographically or something. really everybody is waiting for him to say something insane. he didn't. he talked of common sense. he talked about success, not retribution or punishment. i know the critics will never stop but i thought he gave a virtue owe so performance last night and folks will respond postively to that. >> he talked in general compared to his opponent joe biden. larry: oh. >> where is joe biden? he is in california right now? is that a swing state? of course not. he is not even there to visit the border where thousands of chinese nationals are coming across. you saw the vig for of donald trump. you- vigor of donald trump.

you saw the passion. without a teleprompter he can take questions for an hour on national television. people see the juxtaposition, take away any shortcomings about donald trump's personality all the things you just mentioned, on policy, on inflation, on crime, on the border, on foreign policy, on education, on trade, on energy independence, he is on the right side of all of those. larry: this is not a radical agenda. >> it is common sense like you said over and over again. larry: that word juxtaposition which i like very much, we have some clips about juxtaposing mr. biden and mr. trump on energy, on physicality and on logic. just check this out. president biden: i say to the house members, house republicans, you got to decide, are you going to standp for freedom or are you going to side with terror and, tyranny? >> he has declined, there is no question about it, but he was always sort of semideclined, if

you go back 5 years. he was not one of the smarter people. president biden: i, i guess i should clear my mind here a little bit and not say what i'm really thinking. >> if i felt diminished declined in any way i think i would know it and i would say i'm not running. larry: so, mark simone, declined but the point he is making here, this is not about age. this is about energy. this is about physicality. this is about logic. i mean the fact that biden is how old, 81, 82, whatever he is, so what? look at, i mean there is a candidate out there that keeps talking about two men in their 80s. donald trump could be 60 or 65 in those clips. what do you make of that? people will see this. they will look at it. non-political people, look at the difference between the two. >> as joe biden would say u -- >> [laughter]. >> it is actually great.

you don't have to say anything. let me ask the viewers an honest question, would you let him drive you in a car? i don't think anybody would. i'm serious. larry: yeah. >> no way on earth he is qualified to do this job, absolutely not. larry: does he drive? does he in fact drive? >> when he did drive, you notice it was a gas-guzzling corvette. >> wouldn't let him drive you in a golf cart. >> not in a golf cart. >> i would let trump drive me in a golf cart. >> they say trump is declining. plays golf in the morning, plays tennis. goes to a gala. does six tv shows. larry: sits through a trial. makes 1000 phone calls. he calls everybody in the world. i've been on the end. returns calls wherever he is. charlie, maybe the in a sense, the thing with laura, i thought laura was terrific, the message of success, unity, common sense,

importance, maybe just looking at him makes an important point and statement? >> oh, i think without a doubt. also i think that laura did a great job. she, sometimes he likes to just sort of go on and say his thing and she stopped him and kept asking very specific questions and i think he does the best when he is being sort of pressed like that and she did a great job. he did a fantastic job. what is it really shocking here, as you point out all these things are common sense solutions and, that in and of itself is the reason why washington despises this man because, if you took him out of it, the issues themselves are 80, 90 plus percent issues that everybody agrees with. it is terrifying to washington. larry: that woman asked him the question, she was retribution, punishment. >> yes. larry: women are interested in independence, and he is interested, he said my revenge will be success. you can see the smile and relief

on her face. i just thought that was fascinating. i don't know if we have a clip of that woman or not, if we do we'll show it. but, joe, i thought that was important. because laura ingram set that up and trump delivered i think in a way that may have surprised people. like he often delivers in a way that surprises people. because he is not what they make him out to be. >> the question, guys, can be disciplined in. after saturday he wins by four touchdowns, nikki haley makes another victory speech losing by 30 points. nikki, stay in this race, fine. show me one state you think you can win? overall we're already in the general election season. the question is, will joe biden actually debate donald trump three times as is tradition between general election presidents and candidates, and i can't see that happening at this point. you take the tell problem term away from biden, he cannot survive 90 minutes, 70 million people. they will find a way to make

sure he isn't the candidate or he isn't the one that will debate because they say he is above donald trump and will not bring himself -- larry: white house respond, trump challenged last night. i don't recall them responding today. maybe they will, maybe they won't. >> they did not respond. larry: he will not do it. he will will be a afraid to do . we have the clip. here is the challenge mr. trump lays down to debate biden coming up. >> i'll challenge him right now. we can do you, you can do anybody you want. i will take anybody from cnn which is doing very poorly in the ratings by the way as you probably know. [cheering] i will take anybody because i think you have an obligation in this case, you really have an obligation to debate. i don't think he is going to debate though, i don't think so. larry: do you think he will debate, mark simone? >> debate? he can't do a press conference. an hour debate? larry: debated in 2020. >> he was a different guy then.

larry: one won, lost one. >> the debates were rigged. larry: trump had covid during the first debate. >> the moderators account trump off when he was getting to something great. they didn't ask biden a tough question. when he claims he can fix the economy, he claims he can fix the border he has done this we've seen him do it. that is an advantage. larry: do you think biden debates? >> i think they will do absolutely anything they can from happening because it will be such an embarassment. it will be a catastrophe for them. it is interesting, for all the ways donald trump is the exact samefy he has always been he is running a few degrees cooler i think. larry: yes, yes. >> it is a very good -- larry: you saw it last night. >> you saw it last night. larry: very important point. >> he just, he is proving himself, he has demonstrated he is willing to walk into the china shop and break everything to bring these very common sense solutions to people and, no one

doubts that and it allows him to sort of take a few degrees oaf and be a little bit calmer and a little bit, doesn't have to be as outrageous to get attention. larry: think about this just literally a few 24 hours ago in a courtroom, they basically tried to take his entire livelihood away. everything. businesses, cash, assets, name, life, liberty and the pursuit of happiness, okay? they tried to take it away. in a few 24 hours later he does a one-hour with a very smart tv personality, my ball laura ingraham and shows up pretty darn well. >> almost like -- larry: that is something, that is something. think about it. >> think about muhammad ali, you get beaten up nine years, you know how to take a punch, punch back, not get knocked down rhett tore you i cannily or in terms of confidence. it was a confident trump. sense of humor. that side we like. larry: there was self-efacing

stuff going on, there was absolutely was. it is good policy stuff. i still get excited about drill, baby, drill. >> so does everybody else. all of america does. larry: i'm the only one. it is very exciting for me. only thing he missed is tax cuts. >> but i got one for you for close lines before the tease, drill, baby, drill, kill the bill. larry: thank you so much. mark simone, you're an expert on vice presidencies? >> i am? larry: laura ingraham said vivek ramaswamy, desantis, tim scott, byron donalds, kristi noem, tulsi gabbard and she said, are they on your short list. we have a clip of that i think? he is responding to what they said. here it comes. oh, it is a full screen. trump's short list. i just read the short list. you really think, that is a long-short list. there are a few on that short list i don't really believe. >> he likes to give you some

real choices and he also likes to help promote some people. the desantis inclusion, i think that is an olive branch to desantis. vivek i think ins up in the cabinet. i love byron donalds. he is from florida. you can't have two candidates from florida. larry: does that rule out desantis. >> you can't have two candidates from florida. you can't accept the electoral votes. >> they figured that out before. they can figure that out this time. if you look at 12 years as opposed to four years, desantis would not be a bad pick. larry: i was interested, i must say. i was unempressed with desantis's campaign, he is a genuine conservative, no question about that i was impresses first of all trump would acknowledge i was on a short list, whatever list, long or short, and also desantis i was reading what he said in south carolina yesterday. he came out foursquare for trump as a conservative. he made it very clear. trump and i got like 96% of the

votes in iowa. i think that is what he said. those are conservative republicans. we don't want the corporate republicans. we don't want the country club republicans meaning nikki haley. >> if you're thinking about that eight years after four more years of trump then you could hardly do better than somebody like that who would -- larry: yeah. >> he would be a nightmare for washington. which is what we want. larry: i think he would be too. do you have vp pick? we've done this before? i have forgotten. >> desantis, you want the vice president to deliver a state. last place trump needs help is florida. larry: i don't think that matters anymore. >> because he chose pence. he didn't need indian. larry: what trump said on the veep thing, you must be qualified. god forbid something happens you must be qualified. it is interesting to me that desantis is on that list. but he mentions tim scott a lot. >> he likes tim scott. >> that is true. tulsi from entertainment perspective would be the best choice for us on this show.

then you get a vp debate between kamala harris and tulsi gabbard. she absolutely destroyed her, tulsi did, kamala. larry: can i tell you tulsi gabbard will not be on trump's cabinet. not personal. she can't do it. democrat. >> don't write off sarah huckabee sanders. would be amazing going to to toe with kamala harris. larry: last round, you smart guys have to explain to me, charlie hurt, what is nikki haley doing, seriously? he said last night, do we have the clip? i don't know if we have the clip. she doesn't know how to get out. >> that was a great line. i think there is some truth to that. not to be overly harsh bit, almost like she thinks joe biden will win again and she is auditioning for a cabinet post in a second administration. i have no idea what she is doing. larry: it is not there. desantis laid this out in his talks yesterday. there is no path.

when he said i looked at numbers for himself, when i saw there was no path i pulled out. because i'm a conservative i supported trump. do you have a sense of nikki haley? i mean she may go on forever. she has got the money which is too bad but she will get clocked in south carolina unless everybody in the universe is wrong. >> ego and attention. i think she likes it the same way chris christie did. she gets a lot of interviews on other networks, this one as well. hard to walk away from that. again she is down four touchdowns in her own state. it is embarrassing. larry: mark, are you pitching for fulls sy gabbard, what are you doing? >> nikki haley is like arthritis you never get rid of it a hub republican hillary clinton. wouldn't be surprised if she is on the phone of the "no labels" guys. >> haley-romney. larry: that is scary thought. lot of ohio taxes. thank you very much, gentlemen.

appreciate it very much. coming up here on "kudlow," we're expecting nvidia earnings in a few moments. it is a huge thing. an important chip company t links to artificial intelligence. it may actually chart the course of the stock market for quite a few weeks if not longer. we'll have that for you right away. we are a business show occasionally. mr. trump said it right tonight, the eighth amendment says excessive fines shall not be imposed. i don't know if anybody in new york state heard that we'll bring in victor davis hanson to talk about it. i'm kudlow. mice -- nice work, mr. president ♪.

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larry: we are a business show and i guess nvidia earnings just come out. ace reporter gerri willis will be here in a few minutes. she is digesting some of these numbers. literally the whole stock market is waiting. in the meanwhile let's talk about the eighth amendment and let's go to our great friend victor davis hanson, fellow at hoover institution, author of the dying citizen, how elites, tribalism, globalization are destroying the idea of america. victor, wonderful to see you. thanks for helping us. i will play the clip, trump last night out of the blue, pull as piece of paper out of the pocket

reminds you have of the eighth amendment, victor, i am not as smart as you, if my life depended on it, i couldn't quote the eighth amendment. here is what it looked like. >> i wrote this out because it was so great. the eighth amendment, no excessive became or cruel fines or excessive punishment inflicted. that is the eighth amendment. you know what he did, he looked at my cash, what he said, we'll take all of his cash. larry: victor, yes, excessive everything, weaponization, fines, you name it. would this, i mean i will ask you, speculate, you're a constitutional history guy, would this make a state case or a local case a federal case because of the eighth amendment has been violated and the supreme court should hear an appeal? does that make any sense, victor davis hanson? >> i think it will eventually get there because, if you look at past precedents, has there

been anybody this jurisdiction that was fined that amount of money or better yet, larry, fined at all for overstating supposedly assets on loans that were performing, adjudicated by very sophisticated auditors, interest was paid, banks were happy, no complaint either in the past or the present. so there is no contemporaneous example of anything like this. when you look at excessive fines and punishment, it is not just the fine, it's the deadline where he has to post the bond and his children and he are not allowed to do business to use levers of taking out loans. and then they have an ex-federal judge also adjudicating what they can do and what they can't and the company itself has got restrictions on it and then you have got the larger atmosphere everybody knows that he might have to unload valuable assets in a short time period,

therefore deliberately on the part of the judge and the prosecutor deflating the actual value of the assets. so it does seem to me not only excessive it is initial punishment and i think it will be overturned but all of these cases -- go ahead. larry: did you see trump do it, victor? i think it caught a lot of people by surprise. i have not heard anybody talk about the eighth amendment in connection with this case. it makes so much sense and he calmly unfurled it. i just think it was a shocker, a kick in the pants and i don't know, my response is very cool. >> yeah, i think, you're absolutely right and there are these force multipliers. we've got all of these laws that are being used in a way they were never intended. we have fani willis using a racketeering law used for mafia or cartels to get him on an election denialist charge.

we've got alvin bragg, a state prosecutor, actually a city prosecutor, trying to bootstrap a federal campaign violation on. we've got jack smith rushing in unusual fashion to get this, his suit tried in court during the campaign season. then we have the letitia james. this law was intended as a consumer protection law for clients or defendants that didn't have access to the usual amount of money or influence and they could sue then people who had greater authority and had harmed them t was never envisioned for anything like this. so all of these cases, we get into e. jean carroll, that was a bill of attain der, somebody in the new york legislature passed a bill with trump in mind, said for one year the statute of limitations on long ago sexual assault will be waived. then suddenly she refiles. it seems like they got the target first and then they manipulated or redefined the laws to make sure that he could

be prosecuted. larry: i would love to see them appeal all of this stuff on the grounds of the eighth amendment. they will appeal it on many other grounds and trump's lawyers are saying they are going to post bail, they are going to post bond, rather. they will be able to cover it but it is just an interesting thought, to federalize this on the basis of all these -- i will read it again. excessive bail shall not be required nor excessive fines imposed, nor cruel and unusual punishment inflicted. how about that? that is great stuff. victor davis hanson, good to see you. thanks for helping out. appreciate it very, very much. >> thank you. larry: folks coming up nvidia earnings are out and looks like they beat on everything. so that could be extremely bullish for those of you who own the index. we'll give you the full report. and tommy tuberville, senator tuberville will tell us how we can fix migrant crime. steve moore and john carney will talk about the economy.

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larry: nvidia earnings are out. let's go to ace reporter, market expert, gerri willis for the full report. gerri, beat, non-beat, whatever? >> reporter: all good news from here a beat on the top and bottom line. earnings coming in 4.93 a share. adjusted 5.16 a share. that is compared to expectations of 4.$63 a share. we're talking about a quarter, not a fuel year, okay? when it comes to revenue, sales, the expectations 20.6 billion. we got 22.1 billion. however, as i was coming down here i noticed that the stock in a post-market trading is not rising i think that the street was talking about a bigger number. why is this important? this is an artificial intelligence company that makes chips that are important to the biggest of companies.

nvidia, you name it, supplies microsoft, meta, and amazon and guess what? goldman sachs calls this stock the most important stock on planet earth. okay, there is a lot of hype behind this. this is going to help all the major averages. artificial intelligence is seen as an important technology for all kinds of companies. you can see the stock here. this company is experienced like a doubling of sales year to year. so the power of this company and just how important it is more broadly to others is critical and i have to tell you if we had had a real disappointment here i think the market overall would be down. keep in mind here a lot of people own this stock and they're going to be combing every word in this report because anything negative could contribute to a selloff tomorrow. i wouldn't put it past them. larry: liz claman told me that i should mention the whisper number, makes me sound like i'm still a business commentator.

>> reporter: whisper number was higher. larry: may not have beaten the whisper number. gerri willis you're the best. quick thought from "breitbart"'s john carney. you're an expert on nvidia too. >> i know a little bit about nvidia. larry: didn't beat the whisper? >> beat expectations but not as much expectations thought it should beat it be. larry: i just love that. >> they make the solves, there is a fold rush for a.i. nvidia makes the shovels. if people were not buying about the shovels people would worry about the future of a.i. larry: no, that is a very important point. john carney will be back in a minute with steve moore. however before we get there, we'll talk something about migrant crime with alabama senator mr. tommy tuberville. senator tuberville welcome to the show. i'm sure you know more about nvidia, than you want to. sorry about that every now and then we put our business cap on. we have sound from donald trump on migrant crime? let's hear this for just a moment. >> there's crime, there's

violent crime, there's migrant crime. we have a new cat story of crime, it is called migrant crime and it will be worse than any other form of crime. you look at new york city where they attack police officers, they want to fight police officers. our criminals don't even do that so much okay. i never seen it, having fistfights with the police officers in the middle of the street and we have to do something about it. these are tough people. don't forget, they're not sending their finest. >> you know, senator, it has become pure lawlessness with attacks on cops, attacks on shelters, attacks on prisoners, attacks on ordinary people, attacks on women, attacks on drugstores and pharmacies. it is the most remarkable thing. to top it all off here in new york as you probably read mayor eric adams and his crew will hand out debit cards more or less $1000 a person. could be a thousand dollars a

person per month, could be 10 or 12,000, inviting people, come on in, we'll give you cash. we'll prerefund cash. to me this is insanity and joe biden won't make a deal to close the border. >> one of the biggest crimes, larry, in the history of our country, mayorkas was impeached last week. should have been impeached. he is a criminal. he has been behind the murders, the rapes, the child trafficking, the drugs. there have been hundreds of thousands of people killed with, these people could care less. the guy is a criminal. he shouldn't just go in front of senate to be impeached. he should go in front of a federal judge. i mean he should be prosecuted. i have talked to him several times and he is like he just ignores your question about the border. he has been told what to do but he has been somebody that is willing to go along with it and it is just a shame that this has happened to the united states or america. larry, it is going to get worse

in the next 10 months. i had breakfast with the ambassador from mexico not too long ago, he said it is getting ready to get really bad. you think it is bad enough? it will get twice as bad. larry: you know what i can't figure, bill melugin talking about this yesterday, griff jenkins on the show, you've got all these chinese coming across the border. you have syrianss coming across the border. you have got people from asia, you got people from africa. i think the people coming from the northern triangle in central america are now almost a minority of the illegal immigrants. now i can't figure how in good conscience the biden administration can sit there and stand there and do nothing about this there could be spies. they could be terrorists. we know there are some criminals. the chinese thing, what, single males and by the way, wearing clothes that were laundered and have a nice suitcase? we're being played for a fool.

>> well we are, for us, for some reason the democrats are going along with it, if you saw the vote last week, every democrat voted not to impeach mayorkas because they're behind this plan. they want more votes. they want more people to change the districts all over the country from blue to, red to blue. we have people coming in from the northern border but larry, what you were saying a few minutes ago, most of these people are still walking through the country, through central america. you have a huge percentage now though that are flying in to tijuan ma, mexico, taking a uber across the border, taking an uber going into our country. this is a shame what is happening this administration could not care. they could care less. it is all about power, about money, behind the scenes. we have to stop it. that is the reason president trump has to get elected. he understands this problem. he will put a stop to it. larry: he certainly did a good job campaigning last night at the town hall with laura ingraham. senator, i'm sorry i don't have more time to share but thank you for coming on again as always. >> thank you, larry.

larry: you bet. all right, now we return to "breitbart"'s john carney, someplace steve moore is kicking around. "moore money" on wabc radio, committee to unleash prosperity. steve moore, you know, we had another prominent democratic economist, alan blinder, who was a friend or aacquaintance of mine longstanding former vice-chair of the federal reserve. last week we had gene sperling as a biden economic advisor. ms. lael brainard, another biden economic advisor, they're all out there with op-ed pieces and interviews saying that the economy has come roaring back, inflation has gone away, and joe biden should be the winner on these issues. what do you think? you agree with them? i don't know if you read blinder today. he is a very smart guy, what do you think? >> i did. by the way the reason i'm smiling, larry, my stock-picker

ann moore, invest as lot of money in nvidia at the beginning of the year. so i'm a happy camper, today. when it comes to this economy right now i was looking at the top six or seven statistics, when you look for example, the black poverty rate, when you look what happened to gasoline prices, when you look at inflation, when you look what's happened to family incomes, every single one of these statistics has been better under trump the first three years than biden. is the economy improving? yes. but it is not improving fast enough for americans. one statistic, larry, under donald trump when you were there helping him on the economy, median family income increased by $6,000. under trump. under biden so far it is negative 2,000. larry: you know, john carney, there is a measurement out there, if you want to buy the same basket of consumer goods and groceries it is $1000 more per month than it was three or four years ago, 12 grand a month

almost. but i want to ask you, i was reading your daily and larry summers, all right, smart guy, he pulled the plug on inflation several years ago correctly. he actually is now suggesting that the next move on interest rates will be up, not down. you and i have been flirting with that on this show. >> yes. larry: you've been writing about it. the first one to draw blood that i've seen. >> very few people are willing to go there. he points out inflation is not coming down. alan blinder is wrong in that entire piece. he argues inflation has come down. yes it has come down. it has not been coming down for six months and for the last three months it started to go back up. so i think summers is watching this and saying, wait a minute guys, you all have these cuts priced in. it is possible, he is not saying it is probable, he is saying there is still a chance, a non-trivial chance we get a

interest rate hike for the fed, not a cut. the market, we've been talking about that, but the market is not prepared for anything like that. >> the market moved it back to june. the so-called rate cut is back to june. >> right. larry: it started in march. >> they started in january. they had january priced in. then they had may. now it is june. one more inflation hot inflation report will push out to july. there is no meeting in august. then we're in september. i think people might be surprised we don't get a cut or at least the cut comes very late in the year. larry: steve moore, part of this issue, i want to raise this look the bidens have spent, you look at the cbo baseline on the budget, the bidens spent their six trillion. the cbo out in the 10-year window looking for another four or five trillion. more deficits running upwards of 6% of gdp, 7% of gdp. most of all, steve the borrowing, the federal debt in the hands of the public, use that marketable debt is going to run upwards of nearly, nearly

120% of gdp. in other words the debt will be significantly more than the size of the overall economy and you could be talking about nearly $50 trillion. now, steve, that's government stimulus, right? at some point that is going to reignite inflation or at least that is my question to you? >> that's what caused the inflation in the first place. remember the fact is, food prices are up 23%, energy prices are up 28%, mortgage prices are up by 32%. so the idea that we won this fight against inflation, no. one other thing, i'm in favor of the 1% across the board cut this year as, it is called the massey amendment, larry. here's the amazing thing. just 1% cut, save 30 or $40 billion. democrats are saying no. they won't go for a 1% cut after spending $6 trillion. larry: republicans don't, here, i will rephrase it. the senate republicans who want to give money to ukraine, okay,

i respect that point of view, i may not agree with it, but i respect it, no pay-fors, john carney. >> right. larry: spend another $60 billion here, where is the offset? whatever happened to that idea? >> also by the way these guys should be doing exactly what steve moore is saying. we should be thinking about tax cuts and helping people to invest their money so we can grow the economy. that is a way out of inflation. if you ask them about tax cuts they scream about pay-fors. you ask them spending money on ukraine, they magically come up with the money. larry: that's a great point. are you buying nvidia? >> too late to buy nvidia now. larry: i own the index. that is all i know. i own the index. the kudlow trust is doing very well. steve moore will buy nvidia. buying at the top. that was a joke. i don't want to get in trouble. tell ann moore i still love her. >> by the way ftc will want to brick up these tech companies. they're making all that money for us. that is what lina khan wants to

do. larry: lina khan, too much capitalism. better, have the, let's have the chinese tech companies rule the world and destroy the american tech companies. that's another brilliant biden idea. anyway, steve moore, john can i in, gentlemen, appreciate it very much. coming up here is another beauty, joe biden continues to undermine the supreme court with another illegal student loan cancellation of their debt. i think it is 150,000 people? i have don't know. we'll be back with the great edward lawrence. i'm kudlow. we'll be right back. ♪ it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold.

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larry: all right, president biden canceling student loans yet again even though the supreme court says don't do it. our very own edward lawrence has all of the details. edward, what's cooking. >> reporter: larry he couldn't do it with one stroke of a pen. the president is now piecing together the student loan forgiveness. the announcement today costing taxpayers $1.2 billion. 153,000 people will see student loan forgiveness cut for them. brings the total student loan forgiveness under president biden to 138 billion. here is the president moments ago. president biden: the ability to repay has become so burdensome a lot of people can't repay. they try. they don't miss payments, they

work like the devil every month to pay their bills. even if they pay their loans, their debt increases doesn't diminish because of interest rates. i thought make more sense to relief student debt for families and grow the economy. >> reporter: because of interest rates. the president using the issue to energize younger voters. mon mouth poll, 45% of young people say the president's policies don't benefit them. only 16% says it does. when you take out a loan you should pay it back. looking at a handout for from taxpayers is not a way to learn taxpayers. >> the younger generation deserves to know how this debt will get paid down. the younger generation deserves to know how they can afford a home. they need to know how they pay their student loans. they need to know things are okay and they don't feel that right now. >> reporter: still the president says he will continue to try to cancel debt getting around the supreme court, larry. larry: was he asked, somebody said he was asked, aren't you concerned about the supreme court decision, he said no not

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