lower. it is another reason to buy fixed income. i think that the cash will move into fixed income. equities are near all-time highs. fixed income offered good value and hey, it is the year of the coupon. cheryl: what is your top investment pick right now? >> plain boring vanilla, 10-year treasurys, layer on bonds as well, looking towards move and price appreciation. cheryl: you mentioned lam in your research notes. >> these guys were front-runners getting handle on inflation. well inflation is transitory. these guys were taking real inflation adjusted monetary policy rates positive. they were putting breaks on inflation early on. you've been rewarded for being there. [closing bell rings] cheryl: jack mcintyre thanks for being here. now it is time for "kudlow." ♪. larry: hello, folks, welcome to

"kudlow," i'm larry kudlow. all right, biden classified documents, special counsel robert hur testified on capitol hill today and made it quite clear that joe biden willfully retained classified materials after the end of his vice presidency and is guilty. we'll talk about that with steve forbes, jason chaffetz, sean duffy, if we can all stand it what a threesome. our own taylor riggs and "breitbart" john carney on biden-flation heating back up. gordon chang says tiktok must be divested from china's bytedance or tiktok will be banned in america. newt beginning rich on donald trump's republicans becoming the party of the working class and joe biden's big government socialist budget. finally senator tommy tuberville will talk about the far left woke stuff in joe biden's fantasy budget. first up, let's go right to jacqui heinrich live from the right house on the robert hur

business. jacqui, what can you tell us? >> reporter: the white house wanted special counsel hur's testimony to reaffirm his report's conclusion, conversely with president trump, president biden's handling of classified documents did not warrant a charging decision. they even released the transcript of biden's interview to try to prove hur's descriptions of biden's memory were overwrought. in the end they found himself arguing against hur's testimony on the hill today in the fact that he never exonerated president biden. take a listen. >> did you reach a conclusion this man was outright innocent? >> that conclusion is not reflected in my report, sir. >> you exonerated him? i know the term willful retention. >> that is not in the report. >> reporter: white house counsel's office in america you're innocent until proven guilty. the ultimate conclusion the charges are not warrantedded, the case is closed. in other words the president was cleared. these live so-called fact checks

they have been doing all day have been continuing. the white house also previewed the transcript of biden's interview with several media outlets to counter hur's description of biden's memory. they were highlighting favorable reporting all day. thee tweeted these exerts among always. biden doesn't come across as absent-minded as hur made him out to be. ap the full transcript could raise questions about hur's description of 81-year-old president having significant limitations on his memory. the special counsel defended his descriptions of biden's memory as relevant to the question of willful intent. it said it spoke to the president's state of mind. white house is going after hur himself pointing to hemmer erroneous claims in the testimony today. we're expecting to hear directly from the white house counsel's office in a on camera gaggle shortly here, larry. larry: jacqui heinrich, thank you very much, we appreciate it. folks before we carve the biden-hur hearing today, before

we do that, i want to go on a separate topic. i want to talk about tiktok, virtual unanimity in washington, d.c., either tiktok gets sold by bytedance, the chinese communist party linked owner of the social media app or tiktok will be banned for use in america. breaking up it is hard to do but one way or another it looks like it is going to happen. tiktok owner, bytedance, a instrumentality of the chinese communist party, engages in spying, surveillance of personal information, cyber espionage and political interference. as the excellent "wall street journal" editorial today, xi xinping has eviscerated any distinction between the government and private companies and chinese law requires bytedance to comply with beijing's surveillance demands. all right? tiktok's algorithms they're controlled by bytedance which means they still have considerable control over all the american data servers unless

the umbilical cord with china is completely severed. former president trump has decided to let congress make up its own mind on these issues. mr. trump always feared the national security implications of bytedance and tiktok. owe does oppose an acquisition, however, by meta facebook because facebook's past history of conservative censorship and election interference but trump is not weighing against a tiktok sale to other companies. he will let congress figure it out. so how is this going to play out? well it remains to be seen because china doesn't want bytedance to celtic tock. banning tiktok with its 150 some odd million american users, well that is going to be tricky business. some states and localities have already banned the tiktok app from government phones. at some point cfius, the committee on foreign investment in the u.s. is just going to rule against bytedance or tiktok

or the whole package. look it, china is our greatest adversary, and indeed our enemy. they are untrustworthy. they use construction cranes to planted tiny cameras to spy on our military bases. the chinese phone company huawei built wooden telephone poles with tiny cameras to spy on our military bases until the trump administration threw huawei out. tiktok runs pro-hamas videos, osama bin laden's speeches, tries hard to bend youthful mys in the wrong direction on any number of issues, seems to me most of all the bytedance tiktok story is another example of chinese communist infiltration as part of its ongoing war to dominate the united states and frankly everybody else in the world. bipartisan lawmakers are right. the vote in the house is tomorrow. either break up with the chinese communist party or break up with

america. that's my riff. now, we will go back to the matter at hand all day long, the testimony of special counsel robert hur. joining me now, oh, my god, i can't stand this, the brain power here, jason chaffetz, former utah congressman, former head of the congressional house oversight committee, got to put that in. fox news contributor, sean duffy, co-host of "the bottom line," former prosecutor and steve forbes, forbes media chairman and editor-in-chief, author of, inflation. gentlemen, thank you. sean duffy you were a prosecutor once upon a time. can you bust a sitting president, that's what i want to know? >> i think it is hard to do, right? politics, first of all he has immunity. these charges would come later. larry: legally. >> legally. here's is the deal this is flimflam argument by robert hur to say you know what, joe biden is forgetful, he is affable therefore can't win a

conviction. prosecutors go one president was charged. let's look charging this one just based on equality of how the law work and i will let a jury side. we do that all the time. present your case, robert muir, if the jury acquitteds him so be it but if they convict him. that is what prosecutors do. i have faith in robert hur. the fact you had all this evidence, joe biden knew he had evidence. he didn't call up the archives, i have classified documents i want to turn them over. he used them to write his book and he kept them this is an egregious crime if we're going to prosecute former presidents breath trump and biden have to be treated similarly. larry: okay. why did hur just say he is guilty? he basically said he is guilty. he repeated with these democrats he is not exonerating anybody. why doesn't he say he guilty i would have charged him but he is the president? i make it really simple.

>> i wish he would have. it begs the question, are we ever going to prosecute somebody -- what would you have to do in order to prosecute somebody? and by the way, larry, there is not a single fact pattern in any way, shape or form that a member of congress, house or senate has classified information. youyou have to steal it in ordeo do it and he did this over the course of decades. it wasn't like he accidentally, hey, some staffer stuffed it in a boss. larry: in two jobs. >> yeah. larry: senator, not allowed, vice president. there is only one person that can take stuff out. >> yeah. it is the president. larry: that's right. >> it is the president. i'm not a lawyer but i want to establish that that. >> as senator, that is what drives me nuts they have to establish a standard. right now the start is hey if you're a democrat you get away with it, or donald trump or republican yeah we might prosecute. larry: one more time, steve forbes, why shouldn't this guy hur, he basically stood up to a lot of forces probably had to stand up to the entire justice department to get this done,

instead of concocting this cockamamie thing joe biden's lost his mind. he is not a nice guy anymore, no jury will convict him, he was guilty and i would bust him but he is the president? why didn't he just say that? >> because he couldn't take that leap. democrats are caught in a quandary now, oh, well, this shows joe biden hasn't lost his mind. if he hasn't lost his mind, that means the premise of hur not bringing him to trial goes right out of the window. can't have it both way. you can't say the guy is in full clark of his faculties if he is you have to charge him. if he is isn't in charge of his faculties there is whole bunch of other terms. larry: with respect, i don't think it should be about whether he lost his marbles. >> no. he brought that in as a excuse. larry: that is kind of a coverup type thing. >> it is. larry: can we play the sound, sound one more time? here is what the hur said.

coming up. >> my team and i conduct the a thorough, independent investigation. we identified evidence that the president willfully retained classified materials after the end of his vice presidency when he was a private citizen. larry: and so the thing should have finished, sean, and steve, everybody here, jason, and i would have busted him and charged him, it would be a felony, wouldn't it? >> of course. larry: if it were not for the fact he is president. just kind of said that. >> they had markingses larry, more classified. you can have -- larry: made it really simple. >> here is the other thing. the fact that joe biden gave his ghost writer what he knew was classified information, that ghost writer once he knew robert hur was appointed deleted audiotapes. got rid of evidence. if that wasn't charged shows how much in the bag robert hur is in to protect joe biden.

yes he threw some gratuitous commentary, joe biden having a bad memory. larry: i think that word gratuitous which the white house uses in a different context but your context is right. gratuitous in this case means he dodged what i should have said originally i would have charged him but he was president. that is the gratuitous part. you know what? you had a .258 batting average when you were a college baseball player or anything else under the sun. that is how bad this is. >> remember joe biden got up and mocked donald trump how dare he mishandle classified information he left them at mar-a-lago which is protected by the united states secret service. meanwhile he had this stuff scattered everywhere. the penn center, at his house. who knows -- larry: is it true in the hearing hur testified that joe biden was making chevy corvette noises vroom, vroom? is there any truth to that? i heard that from one of my

producers, i don't know whether i can believe it or not. steve forbes, what does the public think about this? you're in a presidential race right now, as you know. >> reaffirms two standards of justice. i think hur felt this was the only way he could get this report out of the justice department. he wasn't willing to leak the thing. he knew garland would be under pressure, ag, to suppress the thing. only way out you committed it you're kind of gaga right now, you're excused. otherwise this thing might not have seen the light of day until after the election. larry: can i look at this, there are three instances of this charges taken away, documents you shouldn't have taken away. hilary who bleached how many 30,000, she bleached them out like my old tennis shirts. there is joe biden, this is donald trump. only one has gone, has been charged, donald trump. how is that possible, steve

forbes? this is america. >> this is america -- larry: where no one gets charged or something? >> america being perverted by a deep state that is arrogant that needs a real thrashing. comey made that decision on his own. he wanted trump to lose. they're shocked he got the nomination. even more shocked when they realized he could win the election. comey actually put put hilary in the losing column on election day. that is how trump won because she was so sure to win, he said he would reopen the investigation. he didn't realize she lost because of that. so it is an an air arrogant sta, testimony, fbi, cia are all all in collusion. you knead a real cleansing. larry: you will charge me, you will charge me with something. >> listen, there is no way this works out well for joe biden. number one, to steve's point, all americans look at this, if you're the far left and far rate

you might be in your partisan bubbles but most fair-minded americans see a two-tiered justice system number one. number two they read the hur report, they understand joe biden has a failing mind, not what they read in the hur report, what they see on television day after day with fumbles and stumbles and slur. any way you cut it, i think robert hur's non-prosecution but lay out of the mental state to joe biden a death blow to joe biden and re-election campaign in an election year. larry: jason chaffetz, can i ask you something else? >> sure. larry: i'm kind of bored with this whole thing, tiktok. >> yes. larry: now is the time to throw them out, what do you make of this? is this bipartisan support, 50-0 in committee, goes to the house floor tomorrow. trump said all right i'm not going to oppose it. trump doesn't like facebook, i get that and so forth. he knows it is wrong because our administration tried to sell bytedance.

even joe biden's in favor of this. what do you make of this? >> he says he is in favor of it but his campaign is using it the idea the white house will let this get to the finish line -- larry: they will stop it. >> i think it is a key election tool for them. they much rather go for the power win the white house rather than do what is good for national security. they're trying to ban it for government issue but trying to use it as bludgeoning tool to win an election with the younger generation. larry: that is an interesting point. >> no, i think, you have to -- larry: stop it in the senate, behind the scenes. >> it will just barely not make it. it is an election year and that's the way this is going to go. larry: we can talk about this later in the show with gordon chang but steve forbes, you know a lot about this stuff, media and so forth. i mean, is it, we have a national security obligation to do something. now there is 150 million some odd. it is popular app. it will not be easy politically

but this isn't the right thing to do, go after them? >> they laid out the solution. divest. tiktok can continue to exist. people continue to use it but it is not going to be part of the ccp. very simple, cut it off, the ccp won't let them. they oppose any divestment. that is what they're saying. >> well at the end of the day they're going to lose the whole thing? i don't think so. so to jason's point i think they will try to push it until after the election but there is no way, crains, putting cameras in crains things like that? larry: isn't that something? >> unbelievable. larry: it was a very dramatic national security presentation by the fbi. i remember it as though yesterday. it was a special meeting, all right? and the fbi came in and showed us these pictures of huawei, right, chinese phone company, ordinary, run-of-the-mill, main street rural wooden telephone polls with tiny little cameras on them, just happened to be

very near military bases in the dakotas, and in northern california. is that -- we threw huawei out. we have to throw bytedance out. >> they will send a spy balloon over our bases. larry: yes. >> they want to spy on our country. i had bill when i was in congress, you were in the white house, a reciprocity bill, mostly on trade. larry: yes. >> the trading partners way they treat us. this makes sense, they won't let facebook oar twitter into china because it is a national security risk to china. same thing applies for us. apply the china rule. don't let them in because a security risk for this country. when you have 150 million users and kids lobbying the congress to keep the app up and alive, you understand how powerful this tool is to motivate the -- larry: they try to bend these kids minds. i will not go through it, but it is absolute garbage and crap, sexual perversion. >> they won't allow that content

in china. they push it here,. larry: they would kill you, and line you up at shoot you. >> bid way i don't think biden will be at the top of the ticket in november. despite the state of the union. larry: very profound. close it on that. guilty as charged. steve forbes, jason chaffetz, sean duffy, terrific. i didn't know you were a prosecutor until this morning. terrific stuff. don't forget folks catch sean with his co-host dagen mcdowell on "the bottom line" line 6:00 p.m. eastern here on fox business. coming up on "kudlow," biden-flation is heating up. wow, bad inflation number. we'll talk about it with our own taylor riggs and "breitbart"'s john carney. don't forget you can catch "kudlow" monday through friday 4:00 p.m. every day here on fox business. if you can't catch us here at 4:00, just text your favorite nine-year-old and she will show you how to dvr the show and you will never miss a bytedance sale, i'm kudlow.

we'll be right back. (woman) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro lost up to 25 pounds. mounjaro is not for people with type 1 diabetes or children. don't take mounjaro if you're allergic to it, you or your family have medullary thyroid cancer, or multiple endocrine neoplasia syndrome type 2.

stop mounjaro and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, vision changes, or diabetic retinopathy. serious side effects may include pancreatitis and gallbladder problems. taking mounjaro with sulfonylurea or insulin raises low blood sugar risk. tell your doctor if you're nursing, pregnant, or plan to be. side effects include nausea, vomiting, and diarrhea, which can cause dehydration and may worsen kidney problems. (woman) i can do diabetes differently with mounjaro. (vo) ask your doctor about once-weekly mounjaro. when enamel is gone, you cannot get it back. but you can repair it with pronamel repair. it penetrates deep into the tooth to actively repair acid weakened enamel. i recommend pronamel repair. with new pronamel repair mouthwash you can enhance that repair beyond brushing. they work great together.

her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we got him under a new plan. but then they unexpectedly unraveled their "price lock" guarantee. which has made him, a bit... unruly. you called yourself the "un-carrier". you sing about "price lock" on those commercials. "the price lock, the price lock..." so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

larry: biden-flation heating back up again. put numbers up on the board. at annual rate, cpi, 4%. ex-food and energy, 4.2%.

core services ex-rents, that is the core core inflation that the fed ginned up, 6.9% three months. can't be good. let's talk about it. taylor riggs, co-host of "the big money show," john carney, "breitbart news," finance editor and coauthor of "breitbart business digest." let's the games begin. how bad was this. >> this was real bad, not just because they were higher than expected, this was confirmation that january was not anomaly, that inflation is going back up. we have not made any progress on inflation for eight month. now for the last four months it has been creeping back up. four months in a row of headline inflation month to month going up. this is, means the fed cannot cut. they say they are looking for more confidence. i don't know how you can look at these numbers and be more confident? larry: anything pro h from the

fed speak about it? >> no, we're in quiet period. jamie dimon speaking overnight from as you trail, that the fed should not cut first half the year. but maybe second half of the year if at all, they should be data dependent. ought laffer, friend of this program, interesting point in an election year, the fed cutting second half of the the year you have to be careful. he almost made the point do it now, or do it never. larry: i don't think they do it. >> i don't think they could do it, in september, that is the most political cut ever been. they know, they will defend independence. they will not cut in september. if they don't cut the first half, don't cut the back half, maybe cut november, day of the election. larry: that is an interesting point. joe biden already said he expects them to cut before. if they do cut before the other candidates, starts with a t, will scream at jay powell which he is accustomed to doing

anyway. it will be just like old times. >> you have to think joe biden's advisors must be pulling their hair i betcha they will cut. that really puts the fed in awkward position. if they cut they look like they're obeying what joe biden told them to do. larry: this is interesting. the stock market went up today, what did you say the s&p hit -- >> record high, record my. that is important. on the other hand inflation is not creeping down. it is kind of creeping up or maybe it is just creeping. this is something the fed has to pay attention to. if you're going to meet your target of 2%, there is nothing in here that says you're meeting your target at 3%. >> core at 3.8, 3.7, you're still almost double the target of 2%. the fed looks at pce, this is cpi. we're nowhere at 2%. some notes, harkens back to the 1970's, the era we thought we had inflation under.

we cut, we saw reacceleration in inflation. the fed needs to be worried about especially the market at record high. talk about financial conditions, they're loose, they're easy. you're not seeing credit spreads widen. you're not seeing all the traditional signals that the market is under pressure. all of this, eastern bitcoin near 70,000. it is all risk on and easing of these financial conditions. larry: let's talk about bitcoin and i'm going to add to bitcoin gold. gold has had a tremendous move here. i think it might have been off today. that is a tremendous move. bitcoin ever since the etfs were put in place, correct me if i'm wrong, from round numbers gone from 40,000 to 70,000. i had a chance to buy it at $600 many years ago. i regret to say i didn't. john, what do you make of this bitcoin rally and is gold part of that? >> yeah. larry: is this easy money or what is it? >> i think a big part of it is easy money. i think that people say the fed is very restrictive right now

but if you look at things like bitcoin, it says no, they're not restrictive. a lot of people want to buy bitcoin by the way as a hedge against inflation. that didn't really work at all. it is not a very good hedge against inflation but i do think it is telling you right now people are not saying uh-oh, i better have risk-off trade. you're not seeing that in the stock market. you're not seeing it in bitcoin. >> i agree with that but did you know what costco said last quarter? they sell gold bars, they sold $100 million of gold bars last quarter and they loon muched today they want to sell silver coins. this is sort of idea where do you put your money in this sort of inflationary environment. larry: that is the thing, is gold still a hedge against inflation? >> i think you could argue yes. if you don't have faith in a currency, instead of putting cash under the mattress, putting gold bars in your bathtub or pool, i don't know. >> gold is traditionally looked at something to diversify your portfolio. own a little bit of gold. now you can own it, you don't

have to go to a gold dealer, you don't have to go to your broker, you can go to costco to own a little bit of gold. larry: indexes or etfs for bitcoin. that is a booster rocket. it kind of puts them into the game in a way they weren't in the game before. >> it does undermine part of the original use case for bitcoin. it was supposed to free you from the financial system. it was going to be its own financial system. what we're seeing it is actually going up a lot because it is getting integrated into the financial system. being an etf means you can call your broker, anybody, say, hey, i would like to own a a bitcoin etf. you don't have to go through all the hurdles you go through to buy a bitcoin. you don't worry about losing your hard drive and losing all your bitcoin. >> that is the problem. i lost my hard drive with all my ethereum on it. larry: that is beyond the scope of this segment but the treasury and the fed would like to control digital currencies.

do you think that will ever happen? a lot of opposition to it in the senate, in the house, in the marketplace but the fed in particular talks about controlling it, you know, creating their own -- >> a central bank digital currency? larry: yeah. i don't want that because i don't want them to control everything but is such a thing possible? >> i think to your point earlier about trying to evade surveillance a lot of people who talked about a federal reserve creating a central bank digital currency they don't want it. it is easy for a government to come in, we don't like what you're doing, we'll shut you off. you talked about china's central bank digital currencies and some of the controls they have on their population. larry: it is called tiktok. it is called tiktok that was a joke sort of, not exactly. it does promote surveillance. give you the last word. >> i think there are good ideas to have things that compete with the official currency. remember roosevelt banned

goldener ship at one point. banning, this would be essentially banning private ownership of cryptocurrencies. i don't think that is a good idea. i think the fed should stay out of it, let it compete with the dollar like every other -- larry: frederick hayak, competing currencies wrote about it all the time. >> jay powell is not -- larry: inflation still a little bit worrisome. no fed rate cut, sorry about that. john carney, taylor riggs. catch her with brian brenberg, jackie deangelis on "the big money show," every day 1:00 p.m. on fox biz. coming up on "kudlow," bytedance and tiktok, break up with the chinese communist party or break up with america. breaking up is hard to do. the moment is at hand. we'll talk about it with china expert gordon chang. newt gingrich comes around. donald trump's republican party has become the party of the

working class. by the way joe biden's big government socialist budget out to lunch. i'm kudlow. just a small snack. we'll be right back. it's doug... ...of doug and limu. we help people customize and save hundreds on car insurance with liberty mutual. anyway, we got a bit of a situation here. uh-huh. uh-huh. mm-hmm. sure, i can hold. only pay for what you need. ♪(sung) liberty. liberty. liberty. liberty.♪ ghostbusters: frozen empire. in theaters march 22.

okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work.

we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial.

♪. larry: all right, back to the tiktok business, bytedance and tiktok needs either to break up with the chinese communist party or they're going to have to break up with america. joining us to talk about it, gordon chang, senior fellow of the gatestone institute, author of "the great u.s.-china tech war". gordon, thank you very much. china is our/enemy, want to spy on us, want to surveil on us, want to bend kids minds, we have got, we're coming close now, seems to me, we have got to follow through for a number of reasons. >> well we've got to follow through because in fact china weaponized tiktok turning it into instrumentality of war.

give you example, radio free asia reports in 2020 an intelligence unit of the peoples liberation army based themselves in the now closed houston consulate and they were using big data and artificial intelligence to identify americans likely to participate in violent protests. they sent them videos via tiktok how to riot. subsequent reporting says it was tiktok that the chinese operatives used. that is an act of war, larry, we've mean about this quite some time. we know about all the videos that promote illegal drug use, promote self-harm, promote all sorts of russia propaganda narratives, hamas narratives, chinese narratives, this is for two reasons a critical national security threat. larry: so you suspect that china through tiktok, whatever means, through tiktok will try to interfere with our election, upcoming election? >> absolutely.

2020 we know biden operatives used tiktok to disrupt at least one trump campaign we also know in 2020 in general through tiktok, through text messages, through all sorts of means they tried to get bernie sanders out of the race for the democratic primary and they also tried of course to help biden in the general election and they were successful on both counts. so they have been involved in our elections. we've seen them do other things in 2020 and clearly this is something they will be doing in 2022 as director of national intelligence said yesterday. they will be doing it this election cycle as well. larry: do you think the biden administration, jason chaffetz is somewhat skeptical, jason is a smart guy, obviously former senior house member, do you think the bidens will stay where they are now which is supporting this bill to break it up, do you think they will stay there? >> i think they will say they will stay there. they will probably work with senators to derail this or at

least postpone it. i think that will be temporary. whatever happens this election cycle, we'll see with the next president there will be something done because the american people are demanding it. there is too much evidence that china used tiktok in malicious ways, all the other stuff we've been learning about you talked about. these are things that the american people will demand their government do something about. larry: gordon, one other point and i am not the technical guy, but if you have a breakup, let's say bytedance sells tiktok, but will all the tentacles be cut off, algorithms and servers and things that i don't particularly understand because i'm no expert? i remember when we looked at this in the trump administration there were issues, quote, unquote, software issues that even though bytedance might sell it to somebody they would never really give up the influence? >> what they're talking about there is the curation algorithm

which is the most sophisticated algorithm in the world t knows what your kid wants to see, knows what your kid doesn't want to see. they claim what they have, 170 million users, or maybe 130 million active users. the point is it has a lot of users. the reason is that gore goor. if we do this we have to get control of that algorithm, that china doesn't use it through american owners. larry: can we? >> i think we can. it can get pretty tricky. we can say we're going to do it. china says no we'll not let you do it. the point we can retaliate, make life difficult for them at a time they especially need the american market. larry: gordon chang, the best of the best, my friend. thank you very much. i appreciate it. i will study up on that. ♪ we'll switch gear a little bit, talk about voter alignment and the presidential election, maybe tiktok too. joining us now is the great newt gingrich, former house speaker, fox news contributor, author of march to the majority.

newt, dear friend, welcome back. newt, i want to talk to you about a couple things. what about the tiktok story. you're a man of the future. you're a futurist. you heard what gordon chang said about this, much smarter than i am about this you see the goings on in washington, seems the time has come to break up. what do you think? >> i think it's essential that tiktok be brought under american control and that the chinese be forced to sell it to an american company and that the chinese not be allowed to have any ties to that kind of social media. it is a simple matter of national security. gordon is right. he is one of the great experts on this whole issue of how the chinese wage war by a variety of societal means and i'm hoping that the senate will take it up. the house i think will pass it by huge majority and then senator schumer ought to get out of the way and allow the senate

to pass it and president biden, to his credit already said he would sign it. i think this is a very important step in the right direction. larry: thank you for that. newt, we have a full screen, there is a poll, i think it came from the financial times, it is very interesting, how the republican party has changed and essentially morphing itself during the trump years into a working folks party, working stiffs party, working class party and it shows how well-to-do people are moving away from the democrats, i'm sorry away from republicans, the old country club, going to the democrats now, the elites. the low income people, believe it or not are moving back towards the republican pare and middle class people have pretty much left the democratic party and have moved to the republican party. now i don't know all this began under mr. trump but he is given a big booster, what do you make of it, newt gingrich? >> well i think you have two

different things going on at once. one, you have a tremendous performance failure by joe biden. whether you're talking about inflation or immigration or crime or fentanyl, you go down the list. the result is, everyday normal people say it ain't working. it is not complicated biden's biggest drop in the last three months people under 30 who suddenly realize they will not get a good job. they can't afford to buy a car, can't afford to buy a house and biden's policies will make them even poorer. performance is part. the other part is values. the stuff democrats stand for is plain weird. simple example happened at state. union. joe biden correctly talked about an illegal immigrant killing a young girl in athens, georgia. then the left reacted ferociously, he backed off, oh, i shouldn't have used the word illegal. the average blue-collar american has common sense.

you come across the border breaking the law, guess what, you're illegal. trump may be on the verge of creating a trump coalition to replace the franklin roosevelt coalition which would truly be a profound historic shift and "the new york times" of all places did a poll two weeks ago and they showed that the tremendous movement among latinos, asian-americans, african-americans, and the point you made, larry, is exactly right. blue-collar workers, middle class workers, are all shifting towards the republicans. the elites, if you're a phd from harvard, you're very likely to be a democrat but, if you're the janitor cleaning out the classroom, you're very likely to be a republican now. larry: i mean it is just so interesting. under trump the working -- i love to call them working stiffs but also it is middle income but also the lower income, those groups got a pay increase under

trump but after inflation they have gotten a pay cut under biden. i will leave that, give you the last word because i think, mr. trump talks about that a lot, i think that's going to be major in this election? >> sure look. it's a matter of common sense and reality. people know en they walk in the grocery store it is a lot more expensive and they have a lot less money than they did under donald trump and i think that's going to be a huge part of this election and joe biden can't give enough hyped up speeches to cover that reality. larry: newt gingrich, thank you ever so much for your wisdom. take a quick break, then senator tommy tuberville on the other side. what about all these far left woke spending bills in joe biden's budget. you won't believe what is in there. maybe you will believe it but it is pretty far out stuff. tuberville next on "kudlow." we'll be right back.

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? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie?

you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? you can get two unlimited lines for just $30 each month. all in the most reliable 5g mobile network nationwide wireless that works for you. switch to comcast business mobile and save big with up to $500 off an eligible samsung device with a qualifying trade-in. don't wait call, click or visit an xfinity store .

larry: all right of this crazy budget story all this far left woke money in joe biden's budget. let's talk about that with our great friend, alabama senator tommy tuberville. senator, welcome back to the show. we'll put up on the full screen, i don't know if you can see it but i will read it out anyway,

$90 billion free community college, 11 billion interior department cultural preservation, 10.6 billion climate research, 8 billion climb cat core, three billion global gender equity, 1.5 environmental justice. then there is another one, senator, nine 1/2 billion dollars, 9.5 billion worldwide, essentially a rep are pa races program, loss and damage because we are the united states is to plame for everything including climate change that hurt these foreign countries. i would argue the whole budget is insane. this is more insane than the rest of the budget. >> well, it's no change, larry. you keep racking up the money, 34 trillion in debt and rising, inflation is going up. $1.6 trillion for social security discretionary spending. american people should know this, the money you've been

paying for social security, medicare for years out of your monthly paycheck, weekly paycheck, it is not up here, it is gone, the politicians have spent it. so we're having to tax, take money, have a bigger budget just for that. but this climate hoax, all the money going into that, the money, 482 million, supposed to go to ukraine, you know, it is just one thing after another, american taxpayer having to pay for. we're borrowing $80,000 a second, 4.6 million a minute. the taxpayers can't stand it. they're in a spiral, a disaster spiral. this will be an end to joe biden, not just this budget but also the inflation going up. there is no way jerome powell can drop the interest rates. he needed that to drop to be able to save his candidacy, it will not happen. there is no way he can drop interest rates. larry: that's a good point. i think it does box the fed in. biden himself says he expects the fed to drop rates but i think you're right.

the other thing, relying on taxes, you know, five trillion dollars tax hike on successful learners, on corporations, on businesses, they're not going to get that money. that is not real deficit reduction. that is just class warfare. they will never see that money. it will never happen. >> it kind of reminds me of the state of the union the other night, larry, when president biden said i cut the deficit a trillion dollars. i don't know where he is getting that from. he is putting burden on the taxpayer around small business. small businesses and our farmers in this country have built this country, not the illegals. we need to stand up for them and quit putting the blame on them and quit putting the burden on them and give taxpayer a relief. they need relief. they don't need more money spent on climate hoax, money going overseas when it shouldn't have to. it is a disaster. larry: let the folks keep their own money, you know? that's a good point, senator

tommy tuberville, we appreciate it. talk soon. folks i will be right back with my last word. ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪ ♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body to flush out some sugar. and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur.

stop jardiance and call your doctor right away if you have symptoms of this infection ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill ♪ ♪ with a big story to tell! ♪ (vo) explore the world the viking way from the quiet comfort of elegant small ships with no children and no casinos. we actually have reinvented ocean voyages, designing all-inclusive experiences for the thinking person. viking - voted world's best by both travel + leisure and condé nast traveler. learn more at viking.com. ♪ ♪ next. next. stop. we got it? no. keep going. aga... [ sigh ]

next. next. if you don't pick one... oh, you have time. am i keeping you from your job. next. i don't even know where i am anymore. stop. do we finally have it? let's go back to the beginning. are you... your electric future. customized. the fully-electric audi q4 e-tron. ♪ ♪ (marci) so, how long have you lived here? (opponent) over forty years. (marci) and how are the restaurants around here? are they good, bad, meh? what's the average household income? is there a mall? i don't know. a hair salon? where do you get your hair done? (opponent) you gonna move, or what? (marci) oh, i'm sorry. it's a lovely neighborhood. (luke) marci, we've gotta go. (marci) i'm coming! (luke) we've got seventeen thousand more parks to visit. (marci) you wanna give me a hand? (luke) we bring you the best neighborhood info. (vo) ding dong! homes-dot-com. - wounded warrior project has been with me every step of my journey. - they've helped me realize it's possible to rise to the top again. - it's possible to get the help i need

for me and my family. - it's possible to hate pushups again. - to feel understood. - to begin healing both inside and out. - to feel like myself again. - and now i know anything is possible. (gentle music) after advil: let's dive in! but...what about your back? it's fineeeeeeee! [splash] before advil: advil dual action fights pain two ways. advil targets pain at the source, acetaminophen blocks pain signals. advil dual action. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-763-2763.

we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763. larry: so i don't think ofafterh communist china for the u.s. can breakup of tiktok, altogether and the time is come anyone, we will never breakup with liz mcdonald. liz: you better not you be in big fat trouble if you did easily better not ente