is over. it has come down precipitously from its peak. you're seeing it sticky because of wages and a tight labor market and on the services side. ultimately we'll get down where the fed needs to get down to. it may be longer than anticipated. think about where we are today. it is tremendous move down we're not going straight down too, but with artificial intelligence the supply chain issue has really subsided. really number one thing for inflation issues. i see us come down to two. liz: it is lifting the markets over the past year certainly. [closing bell rings] phil, great to see you. thank you so much. here we go, the closing bell, the dow ending near session highs. that means it is down about 30 points. red on the screen today. tomorrow you have to watch the final hour, see how the market reacts. david: hello, everyone, welcome to a special edition of

"kudlow," i'm david asman for in for larry kudlow. mitch mcconnell stunned washington by saying he is stepping down from his leadership post in november. >> serving kentucky and the senate has been the honor of my life. to lead my republican colleagues has been the highest privilege. it's time for the next generation of leadership. david: the eight-term senator will continue to serve on capitol hill through september 27 as a senator but who will take over as leader of republicans in the senate? we'll be asking senators eric schmitt and ted cruz straight ahead. meanwhile president biden delivering remarks from the white house on his actions to fight crime and make communities safer across the u.s. but guess what he failed to mention? the horrendous uptick in crime by illegal migrants. our very own chad pergram and edward lawrence standing by with details on these stories. first up, fox news senior

congressional correspondent chad pergram live on capitol hill on mitch mcconnell stepping down as leader. interesting day, chad. >> reporter: absolutely. mitch mcconnell is the longest serving senate leader from either party both in the majority and minority. he became leader in 2007. mcconnell suffered from health problems last year. mcconnell quoted from the book of ecclesiastes on the floor. >> time for me to think about another season but father time remains undefeated. i'm no longer the young man sitting in the back hoping colleagues would remember my name. >> reporter: mcconnell does not have as much control of senate republicans as he once did. mcconnell failed to get a majority of republicans to support aid for ukraine two weeks ago. gop texas senator ted cruz said it was time for mcconnell to go. mcconnell says he knows how to read the room.

>> believe me, i know the politics within my party at this particular moment in time. i have many faults, misunderstanding politics is not one of them. >> reporter: mcconnell is known for refusing to hold a hearing for merrick garland to sit on the supreme court. he established a new procedural precedent for confirming supreme court justices by passing filibusters. mcconnell muscled you there the confirmation of amy coney birthdays before the 2020 election. >> nasty political move he made as leader, changing the supreme court as a result, reversed roe v. wade. we live in the dobbs here a and see the chaos it created. >> reporter: mcconnell stays on board until later this year. names to watch, gop whip john

thune, former whip john cornyn and john barrasso of wyoming. gop arkansas senator tom cotton is interested in a leadership bid. david: another historical moment for washington, d.c., chronicled by our own chad pergram. we had a lot of them. good work. thank you very much. let's bring in edward lawrence live from the white house on president biden's remarks today, edward? >> reporter: the president going for his physical today, saying everything is squared away. he says his doctors actually told him he looks too young. the president spent several hours at walter reed medical center. he did not get a cognitive test but the white house press secretary says the president doesn't need one. >> the president doesn't need a cognitive test. that is not my assessment, that is not my assessment. that is the assessment of the president's doctor. that is also the assessment of the neurologist who also made that assessment as well. >> reporter: so after seeing his doctor the president spoke about making communities safer and

fighting crime, highlighting how much money his administration is spending on public safety in cities across the country. president biden: we have the largest federal investment of fighting crime and preventing violent crime anytime in our history and that's a big deal. >> reporter: he did not mention crime by migrants crossing the border illegally though. republicans calling out the president for crimes especially those committed by migrants. >> countless victims of crimes in new york city, in new york state, and across america. because the people that come here in violation of our law thank us, thank us by saying the heck with you, the heck with your children, the heck with america, to heck with your laws. >> reporter: we're starting to see impact of some of the crimes

by migrants in large cities around the country. poll numbers have the president under water on immigration as well as crime. david: that was quite an oversight when you consider what is happening in chicago, new york, l.a., all these migrant gangs. edward, thank you very much. joining me missouri senator eric schmitt. you're a newcomer compared to mitch mcconnell. anybody is compared to mitch mcconnell. nobody has been a leader that long. i got to start by saying something positive. i know there is a lot of people saying some negative things but without him as bad as our whole legal system seems to be now with lawfare and all of the other problems, it could be a lot worse were it not for his work getting some pretty good judicial appointments in, right? >> yeah. i look at some of those big wins on the supreme court. those are monumental and generational. certainly appreciate his service. you mentioned it. i'm one of the younger members, one of the newer members, i'm the senator sitting in the back

row now as he referenced hoping people know my name i guess, recognize me for walking around. now that he made that announcement i'm sure there will be a lot of attention turning to who would follow him. for me somebody that was recently elected, come from a state like missouri want to see somebody who is reform-minded, conservative leader. larry: yes. >> somebody i think will lead us to greater prosperity. lead the party here in the senate. it is an important role, hopefully we'll be in the majority after november. larry: well, you used a very interesting word that can be used in different way, reform-minded. what do you mean by reform and was, was senator mcconnell a help in reforming things or a hindrance? >> well i think there is a few things. there is some of the inside baseball. look at the way chuck schumer runs the floor right now? these omnibus monstrosities unveiled at midnight no time to read them or vote for this or you support government shut

down. that is false choice. it is supposed to be the world's most deliberative body. that is not what we see under chuck schumer. we don't see open amendment process. we don't see time to debate these bills. i would like to see that changed, whoever the new leader will be, certainly questions i will ask. look as a party we represent working people. we ought to be for energy dominance. we ought to be for a secure border. we ought to move legislation when we get in the majority after november that makes americans more prosperous. that is what people expect. we get out on the campaign, we talk about things, we actually go do those things, deliver those things for the american people. i'm sure over the next several month this kind of unfolds that is some of questions i will talk to my colleagues about. larry: i do want to mention a few people because there are personalities. personalities are included with what we get from senators. some people look at senator, the longer term senators not the the new business like you, like

cornyn and thune. they care so much about the senate as a body, sometimes they care a little less than they should on party unity. they look at somebody like senator barrasso who might be a middle guy who shares your vision of reform but also cares a lot about the deliberative body? >> look i have got a good relationship with all of them. whoever is running, i don't know if that exhaustive list, but if any will throw their name in the hat. obviously hours after this announcement. have important conversations, sub san -- substantive conversations. i will tell you i'm struck by the discorrect happening here in washington in many ways. there are very different conversations that we're having in washington, than when you're home, people are talking about. for me i look to a leader that speaks of that, a party of the people, will fight for them, we'll take on the ridiculous

agenda that we've seen from joe biden and the democrats and move america in the right direction. david: maybe at the very least get back to regular order, something that for several hundred years the senate was pretty good on. it kind of lost track on that 40 years ago. do think we can get back with regular order, like coming out with a regular budget? >> i hope so. that is what people expect us. i think a lot of tension you see here, there is a little bit of pressure relief valve people from very different states have a chance to go on the senate floor, i have an idea, i have an amendment, you try to build support for that. rank-and-file members, are quite frankly shut out of that process. this should not be a situation where four people, two people in the house, two people in the senate are deciding something like a stone tablet no one can amend and change. that is the kind of reform i'm looking for. there is conversation among members, republicans and democrats, there is bubbling up

individual members want to be emtoered. you might win some, you might lose them, but at least you get a shot. i ran for office to advocate for the people of my state to put my country in the best position as possible and the people. that is something for me will be a big focus. david: let me switch to focus on something you handled before you were in the senate. the president's student loan saga and you helped challenge in the supreme courts. the supreme court made the decision you can't do all these 100 billion-dollar plans to retire student debt unless congress weighs in some kind of bill in order to do it yet the president keeps on doing it. he lost at the supreme court with biden versus nebraska. i think you were a part of that, bringing that decision to the supreme court. and yet he continues to do it. who is going to stop him now? i mean who is -- is there another state getting ready to sue him to take him to court again? >> i hope so. missouri when we brought the

lawsuit including a bunch of other states because we had standing, missouri was ultimate services agency, was ultimately big question of the supreme court who can bring the lawsuit. i was proud to leave that effort. it literally saved taxpayers half a trillion dollars. that was the price tag. he had no authority to do it. some craven cynical desire to get votes. i think abuse of the administrative state in that way. another kind of reform i would like to see happen, where we disempower bureaucrats. put that power back. if congress should have to vote on it, people can judge us by our votes. these things should be separate individual appropriation bills. we need it. it is a lawless administration. there is no law they won't bulldoze to get their day. the democrats are party of open borders and lawlessness, we're seeing in their actions on student loans and the border. david: that is very interesting

you say that. that was my next question, bringing it out broadly. the next president, if he or she is a republican, the question will they tackle the sort of demise of faith that americans have in our system of law and order now. because of all the lawfare going on against particular politicians or policies they don't like. i mean, is there anyway to restore the trust that many americans have lost in our system of law and order? >> well i think that's why the republican party has to be the reform party. we have to fight against these aus boos of the administrative state. the recklessness that we saw with the biden censorship regime. when i was attorney general we filed with the missouri versus biden suit. the federal judges called it orwellian because of censorship that took place among among millions of americans. the democrats are trying to take president trump off the ballot and throw him in the jail for rest of is had life.

i don't need threats of democracy from the democrats. they have to restore trust in himself. larry: i don't mean to, how can you do that regain trust that you lost? >> we have to get rid of a lot of people at the top leading these decisions. merrick garland, they're going after catholics. they're going after parents that showed up to school board meetings. larry: you're talking about director wray at the fbi? >> look, also i have got legislation here if you've been censored, an individual in america then can sue that individual government bureaucrat to provide accountability. so it wouldn't just be a state like missouri and attorney general but you as a citizen, if you've been censored you can sue that individual. that would i think send the right message we'll not tolerate censorship. that is one example. making sure we have a secure border has to be at the top of the list. you see the crime of fentanyl. that is something we'll be focused on. david: i don't know if you heard the president today, this will

be the last question, he was talking about crime, he said not a word about dramatic and horrible increase in violent crime from a lot of illegal migrants, many of whom presumably were let out of jail by venezuelan president maduro. i don't think it is coincidental there is this gang connection with venezuela and a lot of crime being committed on streets of our committee. was it irresponsible for him not to say a word about that? >> yes. that is true. in venezuela a lot of their terrible criminal activity there, they got them all out of the country. they are here. a lot are here now. this is a very inconvenient truth for the biden administration. the truth this is the party of open borders. this is what they believe. we're seeing results play out in real time. you have sanctuary cities pulling back on that because they have seen the disaster. american people see it. we have to have a secure border. larry: senator eric schmitt one of the newcomers in the senate saying at least good bye to the leadership of senator mcconnell. thanks for being here.

good to see you. >> thank you, david. larry: coming up senator cruz called on mcconnell to step down a couple weeks ago. now senator mcconnell has. we'll ask the senator who he thinks should replace him. joe biden heads to the border tomorrow. will he really take credit for what texas did to slow the flow of illegals. all of that when "kudlow" continues. everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything?

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when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. >> is it time for mitch mcconnell to go? >> i think it is. david: that was short and sweet. joining us now is texas senator ted cruz. senator, thank you for being here. certainly appears leader mcconnell got the message, whether it was you in particular or combination of a lot of folks saying the same thing. what is next in the search for his replacement?

what kind of, what kind of leader are you looking for? >> well listen let me say at the outset, now is the time to recognize mitch's long and honorable service. he is longest leader in senate history and owe made the judgment now is the time to move on. i certainly respect that judgment. i will say in terms of legacy, i think he has many legacies but the most consequential i believe the nomination and confirmation of hundreds of principle constitutionalists to the federal judiciary. at lunch i told mitch, look, that legacy will outlast all of us. so that is a lot to celebrate. david: absolutely. by the way i want to jump in for a second, because i was talking to senator schmitt about that, i don't know if you heard, for all the problems we have in our legal system right now, the lawfare, two-tiered justice system, et cetera, imagine how worse it would have been had

mitch mcconnell not been leader of the senate? >> no, that is exactly right and elections have consequences and the american people, number one for a significant amount of time elected a republican majority in the senate. that produced very clear results in terms of the u.s. supreme court and all the federal courts. and then the american people elected donald trump as president in 2016 and ha changed the course of history. if you look at the supreme court now, we have principled constitutionalists there that are defending the bill of rights and our fundamental liberties and the rule of law and that is incredibly important especially right now when we have what i believe is a lawless administration, to have a court that holds them to account is really important. david: but you know you have a leader of the senate right now who is, who actually has come out and said things about the supreme court that never used to be said. i mean has actually threatened members of the supreme court. >> yes. david: when you're dealing with a majority leader like that, i'm

of course talking about senator schumer, you can't play softball and some people say that was part of the problem with mitch mcconnell over the past couple of years. he is playing way too much softball with a person who is, you know, brought a gun to a knife fight. >> right. look, i have had long disagreements with mitch mcconnell for the 12 years i've been in the senate. you played a snippet of that at the outset of that segment. so my views have not been subtle or difficult to ascertain. i think today with his announcement is a time to respect his service. there is no doubt the senate conference will quickly move on to a discussion who should be the next leader and i expect that to be a really vigorous discussion. i suspect many of my colleagues may put their names forward and what i would like to see is a, the next leader be someone who is strong, who has courage, who will actually stand up and fight and lead and, i'd like to see

the republican conference, for us to do what we said we would do, to fight for the promises we said we would fight for and deliver on our promises and i think whoever the next leader is, i think that is really front and center most critical. david: i want to switch to your home state of texas because we have a big day tomorrow, a former president, current president, both visiting, very different views how to deal with the border. one president who of course had success diminishing the number of migrants across that border, that's donald trump. the other one essentially opened it up. it is four times worse than president trump's last year right now. i'm just wondering, do you think, of course the texas border has been relatively secured by the people of texas, not by the federal government, by the governor, spending their own money in texas, closing it up. a lot of of the migrant traffic has moved to nevada and to california as a result but president biden will go there tomorrow. do you think he will take some

kind of a victory lap claiming that the diminishing number of migrants is result of something he has done? >> listen, i will be down at the southern border with president trump tomorrow. i'm glad president trump is coming back. joe biden, i was down at the border this weekend, i invited joe biden to come to the border. he did, the next day he announced he was coming. it was interesting, i said come to the border to see the misery and suffering that your open border policies have caused. look at the dead bodies 853 migrants died last year crossing illegally into this country. look at eyes of little children brutalized by human traffickers. look at eyes of women violently raped by human traffickers. look at families who lost 100,000 loved ones to take responsibility. david, i'm confident joe biden will do none of that. he went to the border one other

time during his presidency. he went in el paso, in el paso, what they did cleaned it all up, the white house said he did not see a single illegal immigrant. reminiscent when china's president xi weren't to san francisco and removed homeless people and criminals. david: it was reminiscent of potempkin villages joseph stallen used to set up. i do think it is not just at the border though. i think all over the country, because this thing has spread, effect of this thing, not only in terms of cost but in terms of the crime. we had the horrible case of the murder of the woman down in georgia. >> yeah. david: the athens georgia, mayor was speaking into a press conference t turned into a town hall. i want to play a snippet. get to reaction. >> liar. >> liar. liar. >> liar. >> we're here to listen. >> you're the one guilty of blood on your hands where this murder, sir. david: now that is, i don't

think it always goes to those extremes but it shows the frustration of americans with the situation of the border and all of the crises that result from an open border. i think, there is a reason why it has become number one issue in american politics. right? >> well listen, joe biden and democrats in congress are deliberately endangering the lives of every american. if you look at laken riley a beautiful 22-year-old woman, nursing student in georgia. she was murdered because of democrats open border policies. let's put facts to that statement. the venezuelan murderer crossed into this country, we apprehended him. we had him in el paso. one of the illegal immigrants joe biden didn't see in el paso. because his team didn't let him see any illegal immigrants in el paso. we had him. the administration released him.

when we apprehended him, put him on a plane flown him back to venezuela. if biden had done that laken riley would have been alive today. after joe biden released the murderer, he went to new york city. he was arrested again this time endangering a child. what happened in new york? new york is a sanctuary city. they released him again. they refused to notify i.c.e. he was let go a second time. if they kept him in jail in new york city, laken riley would still be alive. democrat policies are taking lives of americans. we had news break today, prince george county, outside of d.c., two-year-old child murdered by another illegal alien released by joe biden. these open border consequences have real consequences and real victims. david: senator, i wish we had more time but we've run out. thank you very much for being here. have a safe trip to texas. we look forward to seeing you. >> appreciate it. david: coming up why do the bidens appear to be so silent on

china's role in the fentanyl crisis? peter schweizer joins me in his new book, drug money. donald trump is getting support from young voters. we'll talk about america's realignment with liz peek and.us e stick around for "kudlow" save. that's great. i know, right? i've been telling everyone. baby: liberty. did you hear that? ty just said her first word. can you say “mama”? baby: liberty. can you say “auntie”? baby: liberty. how many people did you tell? only pay for what you need. jingle: ♪ liberty. liberty. liberty. ♪ baby: ♪ liberty. ♪

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♪. david: house republicans questioned hunter biden behind closed doors in impeachment inquiry into president joe biden. our hilary vaughn live on capitol hill with all the details. hi, hilary. >> reporter: hi, david. this closed-door deposition with hunter biden just wrapped up and we did hear from chairman comer who said the next step is the public hearing that hunter biden asked for. and of course the transcripts from this closed-door deposition today will be released and we do know there will be something in those transcripts because hunter biden did not plead the fifth today. he took multiple questions from lawmakers and answered those

questions but democrats were quick to run out of the room this morning after hunter had been taking just an hour of questions, to celebrate because they said that hunter biden has been vindicated. >> we're pouring over lots of emails and texts to try to torture out some meaning that doesn't exist there. >> he has gone text by text, email, by email, innuendo, by innuendo, and completely debunked all of the conspiracy theories that the republicans have been peddling for the last year. >> reporter: republicans questioned hunter biden today about texts where they obtained where hunter threatened a chinese business partner and mentioned he was sitting with his father joe biden. the message said, i'm sitting here with my father, we understand why the commitment we made has not been fulfilled. i'm waiting for my call with my father. president biden: alludes these

communications in opening remarks. examples look at a few reference to my family or emails, and texts when i was in the darkest day of my ad addictions. republicans say addiction doesn't sprain what hunter biden was paid by overseas businessmen were paid to do. he told them to fight back against vladmir putin and counter russian aggression. >> there was no response when he was pressed on what in the world was he actually delivering making all of this money. >> of course he was selling the brand. you can't hide behind the fact you had addictions. can't say on one hand, hey, i didn't even know i might be sending something about a text, saying oh, my father was next to me. i'm not sure about all of that, because i'm under the influence. how did you know he wasn't sitting next to you? >> reporter: david, one of the reasons hunter biden tried to avoid doing this closed-door deposition all together, because

him and his team were concerned about leaks from the room coming out from republicans but it was democrats that rushed out of the room today to talk to the press and spill tea,. david: they were the democrats pushing russian hoax theory. don't forget that. they made mistakes in the past. hilary, thank you. let's bring in peter schweizer, president of the government cattability institute. author of blood money, why the powerful turn a blind eye whale drugs are killing americans. democrats said he debunked every email and text. what about one simple question, i don't think they ever bothered to answer, either hunter or james, which is why were foreign government-related companies will be to give you millions of dollars? what did you do for those companies, right? >> no, you're right, david. and by the way they kept sending

money. they would send five million here. they would send another million there. what hunter biden wants you to believe they got nothing in return but they kept sending money. that is laughable. there is no legitimate business purpose he provided for this. david: no. >> no product. they brought no capital to the table. so it is really a farce. david: yeah. >> that is i think the bottom line. are we really at the point in america we're going to say the first family of the united states, in this case at the time the second family of the united states can accept tens of millions of dollars from foreign adversaries and it is not a problem. david: possibly affect, possibly affect foreign policy that might relate to some of the money that is coming into the family but i want to go over some emails, texts and money transfers the democrats say totally exonerated hunter biden. the first one is that very mysterious check, there were

actually two of them. one was for 200,000, one was 40,000. that said loan repayment. the 200,000-dollar check which is up on the screen now coincided timingwise with a particular business deal, did it not? and of course loan repayment, we have no evidence of any loan ever having been made but what about the timing of this check? >> yeah. no that is exactly right. you see money dispersed to hunter biden involving a chinese deal, for example, and then the money gets passed around to the family. the family members are not performing any services for these chinese companies. it is absurd to suggest otherwise. look, the bottom line we have got to remember, i think republicans have to be reminded of this, america's bribery laws are very, very clear. it does not matter if joe biden got a dime. if your family gets paid and you perform policy actions in return for those funds it is bribery

every bit as much as if you get the money yourself. and that's the key thing here. so it doesn't matter if joe biden got money. david: i want to talk about what the what's app text from lunt hunt, i'm paraphrasing, my father is right here, he was talking to one of hayes chinese business partners. my father will be very upset if you don't send me that check. we don't know specifically whether his father was right there. there are ways to track where cell phones are. whether joe biden's and hunter biden's phone were close to each other at that time but there is a lot of evidence like that that exists, isn't there? >> yeah. there is not one example, there is not two examples. there are numerous examples. we know of course joe biden would take phone calls from hunter biden and talk to business associates, to sort of show the flag. who do you want to believe? hunter biden trying to spin a couple of these instances or the overwhelming accumulation of

information? since when did hunter biden become a credible witness on this stuff. they have lied since 2018 when which first exposed this stuff. david: peter schweizer, i want to give the book another plug. it is called, blood money, why the powerful turn a blind eye while china kills americans. you have to come back to talk more about fern at that nil, maybe the biden administration is not as tough as they should be against fentanyl. peter thank you very much for being here. appreciate it. switching gears to the 2024 election, joe concha, fox news contributor and liz peek columnist and fox news contributor. we had this primary in michigan yesterday. among other details, 100,000 dems essentially uncommitted. that is vote against joe biden even though he is the sitting president. nikki haley losing big to trump. there is a figure you came here as you walked in here, number of

young people for biden that astounded me. tell me about that. >> not just arab-americans voted uncommitted in michigan, it was young people. look at numbers in ann arbor, college town, they were overwhelmingly uncommitted. what i mentioned coming in, showing 2/3 of again see, 18 to 24-year-olds approve of donald trump's presidency. much they were not voting age, practically children when he was president. it is a very strong indication animus held by young people versus donald trump is bogus. i think it has changed. we saw that in michigan. i think we'll see a lot of it, david. david: we have blue-collar votes leaving joe biden particularly, but the democratic party in particular. we had shaun feign on couple weeks ago, the uaw president. its home is in detroit. he says he favors biden but not

all of his members do. roll tape. >> look, let me be clear about this, a great majority of our members will not vote for president biden. yes, some will, but that's the reality of this. david: the majority. he was willing to say that. >> if the election were held today, david, liz, donald trump is your 47th president for this reason. forestarters he is leading in in every swing state. poll from the hill relatively large margins. nine in georgia, nine in north carolina, 10 in nevada. he lost that state twice, five in michigan. if michigan goes to donald trump, he will win, two groups put him over the line, blue dog, blue-collar industry because they saw what biden did around mandates for electric cars. knows how much that hurt them. blacks and hispanics as well. liz had a big number. i have a more crazy number all right? this comes this week, it shows from howard university, mind you, they conducted a poll. they found in 2020, 94% of

blacks supported joe biden. that number is down to 49%, 45 point drop. if this holds you're looking electoral landslide for donald trump. david: and again, liz, it is this realignment. larry is always talking about this realignment. blue-collar has gone from the democrat feeling always in their back pocket to republican in many cases because they represent, the democrats now represent the woke elite. what do auto workers have to do with college, the government bailing out college loans. >> i was going to say, that to me if joe biden really wants to attract blue collar workers this student loan give away, expungement of student loans, terrible idea because 39%, 38, 39% of the country are college graduates. they don't really think they should be paying off anybody's student loans, david. but if you look at polling like the economist does, every income bracket you go up favors biden more and every, as you go down,

it favors donald trump. i don't even think it is a realignment. i think we've been here for the last 10 years. i think it is wealthy elites. you can see it in the percentage of college graduates voting for joe biden, higher income people, the donors lining up behind joe biden. he is the candidate of the elites and trump is definitely the blue-collar. david: very quickly i think we can run this. this is a delicious bit of tape we have here from the fani willis, not a trial but a move to disqualify fani willis from the trial of donald trump. roll tape. >> do you think it started before she hired him? you see that? david: all right. you could barely hear it but he said, dang. which means, essentially he was set up. he said something that wasn't true. he finally reads a text that suggests it is not true.

it was like you got my. it was that kind of a moment. that also adds to pile-on about the democratic message all in writing. all in these texts. nathan wade had no business being hired for this case. david: that was fani willis ace boyfriend. >> the "better call saul" of fulton county. they will be disqualified. this case is over. >> i hope. david: liz, joe, thank you very much. >> dang. david: coming up, art laffer is nix. stick with "kudlow". hold up. if asthma isn't treating you right... you might be treating it wrong. and i know, you've been going through it. but what if you get to it. a key source of your asthma inflammation. enter nucala. it isn't your rescue treatment and it's not a steroid. it's an autoinjector you can do at home. just once a month. nucala targets and reduces eosinophils and helps your symptoms. think less asthma attacks... less need for oral steroids... less asthma-related hospital visits.

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david: republicans from the senate to former president trump are fighting to stop what's called a central bank digital currency. it comes as more and more countries, china, russia, top among them, our enemies in other words, are looking to destablize king dollar. joining me to weigh in art laffer, former reagan economist, forger presidential medal of freedom recipient and ought thor of the taxes have consequences. americans like the freedom to make transactions without big brother watching over those transactions. doesn't this digital currency, janet yellen and others in

treasury are pushing interfere with that freedom? >> totally does completely. what it does give government, more and more control over our money. if you look at money, david, prior to 1913 the money supply of the u.s. was basically, was basically in private hands. the government did define what a dollar was, 1/120 of an ounce of gold or one ounce of silver. they did minting. everyone else did minting. issuance of currency from banks caused it. we did not have inflation for two centuries up until 19134 when fed was formed, government started controlling. since that time there is enormous explosion of the quantity of money, to the drop of each dollar, i don't know, 1/50 of the value in 1913. it is crazy. we need less government control and more private banking which is what bitcoin is, what these other currencies are, as far as i know and i believe. i think they are really the answer to the government's money problem. david: the other thing folks

want from their money, they want the money they earned today, be worth pretty much the same it will be month from now or a year from now. >> that's right. david: you can't do that with two trillion dollar deficits year over yu, can you? >> you can't. it is not feasible. you need to control the quantity of money to control the price of money. i love a price rule where you guarranty the value of a dollar over five, 10, 15, 20 years, we make loans, borrowing, all sorts of future transactions, knowing what the value of a dollar will be. that is why you want stability of prices. frankly allowing a government digital currency would undermine that possibility. it really would. we need to keep it in private hands david. i think what is happening with bitcoin and other currencies is wonderful for the world and this country. david: the last minute i want to talk about something both near and dear to our hearts which is tax policy. i never got the sense of

mitch mcconnell, he did wonders with judicial appointments, never got the sense he was a supply seeder, passionate about it. congressman jack kemp, with william roth, wonderful kemp roth bill signed into law by president reagan. do you think we could find somebody like william roth to deal with tax policy in the senate? you have only 30 seconds? >> yes we can. a lot would do a great job. the guy you interviewed, ted cruz, you just interviewed him, would be perfect champion. big hagerty, most phenomenal senator on the planet, marsha blackburn, we have great, great politicians in the senate would lead the fight for low rate, broad-based flat tax for tax sanity and economic growth. david: nothing against mitch mcconnell. you need somebody with a passion for -- >> mitch mcconnell is wonderful. david: he is a wonderful guy but he didn't have that passion. hopefully we'll get it.

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david: and that's all for for this special petition of kudlow," thank you for watching. liz macdonald, tonight i hand it to you. elizabeth: thank you, david, appreciate it. thank you so much. we've got this story coming n a growing and major controversy over hunter biden's testimony before house impeachment managers.