things to keep in mind on the budget. liz: two day fed meeting and no rate cut expected and when did you say rates coming? >> yeah, probably not till middle of summer. part is predicated on the idea that inflation is too high and economy is doing really well. retail activity and the summer at earliest. liz: it's great to see you, eric somebody that says let's go for it. no risk assets and here we go, closing bell ringing right now and looks like the s&p will close below 5000. nasdaq is the loser and led by nvidia and coming up on monday is the bitcoin billionaire. larry: hello, folks, welcome to kudlow. i'm larry kudlow.

israel strikes iran and waiting for the next shoe to drop. congressman mike walt and idf special ops veteran allen cohen. hillary vaughn is live on capitol hill and the foreign aid spending bill and whatever else. hi, hillary, what's cooking reporter: hi, larry. iranian strike might have been one and done and israel trying to make the point to iran that they "can reach out and touch you with this strike". there's a sense both sides made their point and u.s. officials teledoc fox in israeli air strikes or iranian proxy attacks in syria or iraq and israel is striking back at iran and turned

the heat up on capitol hill to get foreign aid out the door and mike johnson managed to get dozens of democrats bail him out and advance three separate foreign aid bills with money for israel, ukraine and taiwan in an additional package that has the revised tiktok bill in it. but johnson says this peace mall approach is a win for republican. >> the senate was saying effectively a blank check for foreign aid is a better process to break the bills into four separate measures for consideration. this is the best possible product we can get under these circumstances. reporter: johnson risking his own future as speaker to get these bills to the floor. some wanted a forced vote on the border before playing ball on foreign aid and johnson decided to go ahead and move forward anyway. >> there's continued frustration

with the fact that we're allowing the house to be governed by democrats. >> he'll keeper game his job. think chuck schumer wants to lose by chance? why would chuck schumer want to lose by chance? reporter: see if the cost of doing this ends up being speaker johnson's job and dozens of democrats arrive the role to get to a noor vote and sometimes making political, difficult political decisions and it's useful to ask what would reagan do.

larry: 55 republicans oppose it had and small handful want to take down speaker mike johnson. now, there's measures in those funding bills that many conservatives don't like and there's measures that many conservatives believe should have been in the bills in the first place and are not. but what would reagan do. would support the bills. why? well, imperfections and the basic point seizure disorders see it and it's this, we have to support fund and arm our allies. it's very dangerous world out there. and president joe biden has made it a far more dangerous world because of his feckless, weak, indecisive and outright mistaken policies in the last thee years plus. starting with afghanistan and right through the mishandling of russia and ukraine.

appeasing iran and wilting in the face of chinese hostilities and curtailing the u.s. production of fossil fuels opening the southern border here and into a catastrophic crime laiden disaster and not more than 10 million illegals in the country. reagan would say recognize a lot of 60 billion targeted there and the defense bill base helped taiwan because of the chinese communist party threatens them on a daily basis and pit up the $26 billion for ziti ceil they're one of the greatest allies and existence of the democratic israeli state is being threatened.

provide funding and weapon sales to allies around the world and helping us to fight so be it communism. today's new access of evil, russia, iran, china, and north korea must not be allowed to prevail and whether it's new cold war or not. the reality is those four countries are our enemy. even on a limb limited basis ons house noor will do something to help our friends and slow down our enemies. we want to support mitigating circumstance first. now, these bills are not going to be paid for and and that's most unfortunate and there's no

off ramp negotiating mandate with respect to ukraine and should be. there's some very weak chinese banking sanctions to stop them from buying iranian oil but that will come to nothing and bidens are never going to enforce it and far in a way the donald trump the greatest tragedy in house bill 2 not in the package to close the border and not even the core border and they'll close the border. they're insufficient going for them to pass it now. yet after all this, i believe

reagan would support it. he was a believer in negotiating for 70% now and get the rest of it later on. later on, that's november 5 election and l when donald trump can be president, the senate turned republican, and house gop picks up new reinforcements for a bigger majority. that's forget the rest later part. speaker mike johnson, he's a genuine supply side constitutional conservative and is playing with a incredibly thin deck of cards. those that don't like him, how about wait till next january for the vote. personally i support them and if ronald reagan were alive today, i believe he'd agree with me. on all of it. okay, that's my take.

like it or not, some agree and disagree. we have mike waltz and aaron cohen, israeli special ops veteran and knowledgeable people. gentlemen, thank you for all this. mike waltz, let me begin with you. your take on this israeli, i don't know exactly what to call last night. it was certainly a limited action. a lot of us thought for shoes would fall and some think more shields will fall and then again joe biden has screwed this story up so badly i'm not sure what to think anymore. what do you think, congressman waltz? you are an expert and a veteran. tell me your thoughts and then we're going to get to prince. >> this is a clear message from israel to iran that your tactic failed and you cannot hit us and

we can hit you and we cannot only hit you and we can reach out and touch your most sensitive sites and most sophisticated russian built air defenses around your air base and around your nuclear enrichment sites. i think they sent that message loud and clear. i expect both sides will tamp down from here for now. one because iran's massive attack failed and two, because israel needs to focus on gaza and iran still has their insurance policy with hezbollah in the north. you nailed it. the best thing biden can do for israel is cut off iran's cash and there's a bill that's past the house and called it back and put secondary sanctions on chinese buyers, brokers, refiners, shipping companies that are ultimately funding all

of this in the middle east. china is the big winner here right now and they're getting cheap oil and iran flush with cash because biden walked away from maximum pressure but the thing that's also upsetting why china is mitt winning is our military is getting strung out from the red sea to the mediterranean to all over iraq and they should be shifting to the pacific. t all because iran is flush with cash and you've got to cut it off. larry: a strong president trump would have been all over china and for a couple years and never would have opened up this or ease the sanction. they're importing them and they're importing them one and a half million and it's about 60, 70% and my recommendation is

trump, if you had president trump that said i'm going to double your tariffs across the board. i might even triple your tariffs and it's a real thing to the united states unless you stop financing this war against israel larry: i watched you last night and you're talking about it and it's kind of layered approach and do you still think that here and going for this afternoon and is this is the end? >> they're engaged in active operations and last night with trace, these are the would bees, could bees and maybes and that's what i'm here to do. i'm going to say iran down playing the strike. nothing more than a backdoor to get out of the reality that

israel can reach out and touch. they have the capability to destroy gaza, which they could have done on october 8. they could destroy iran. they took out the nuclear scientist in 2020, and i can tell you the foreign intelligence unit was tracking that man since 2007. israel's methodic and obsessive when it comes to their security because we have to be to respond to that first part of your question, i believe there could be more things happening, but israel does its best work in the vanguard and we say [speaking

non-english language] and the fact is that israel hit extremely close to the nuclear facility and what they hit, we don't know. was it an f35 coordinated by leap joint tactical j-tac unit or the missile and israel getting there out from iran and going there in the middle east and meddling here and doing it for sixth months and time for iran is reel is the bigger threat and so many things to list between cesar and iran and the major threat. they trained hamas and paying them to come to iran and this is the terror group and infiltrated israel and it's like they're elite coman doe version and trained in iran and iran at center of all this and the longer we wait and national

security. >> there's too much bloody appeasement going on here and we want to go with appeasement. look it, israel could take out all fields and on site and israel taking out all sides and israel taking out nuclear sites and they can do all that if they wanted to. i want to do all that and let me ask congressman wait a moment, please and is biden holding this up and do you think israel is listening to biden and maybe going now and going into south gaza and rafah or what and i'm befuddled by that and not all too happy about it. no one is a bigger supporter of israel than i am. i don't get what happened last

night. >> you can disagree with allies and close friends and behind closed doored but chuck schumer declaring it and biden backing away from bb and worried about domestic politics and it's emboldened iran and their enemies all over the world. the new word out of this administration for appeasement is deescalation. every time they back away, larry, our adversaries move forward and look, we've gone from abraham accords under trump to open warfare between israel and taiwan and finish off hamas and deal with hezbollah and deal with the aftermath and what we

can be doing is shutting down under the trump administration and all of these tariffs groups were complaining that kay weren't getting the cash they used to and at the end of the day my appeasement and think about that back n. the bidens and the word deescalation is the u and finish off hamas once and for all god willing? >> i think that gaza was temporarily put on hold and final invasion into rafah because former israeli seal commander has been around and

decided that there was enough dun in order for more intelligence to be corrected and slow things down and there's some appeasement going on and at the end of the day, israel is not fully appeased if it's a real security risk and that's one. two, i believe that what we're seeing is the muscles and suicide drones and it's -- missiles and drones and opening israel up to play where they played best and low intensity conflict and playing out last night in the air. let the persians down play it and i want to see as irgc. i want to make this really clear, israel has no problem with the iranian people. they're good people. larry: i believe that.>> [speakh language] all day but the ircg -- larry: whatever you just said, i agree. >> but ircg is a much longer threat signals that israel with

cook up small selective ops that israel took down one of the targeted assassinations and that's what israel does better than any country in the world. can't touch them. i think we'll see more of this. larry: mark all spoilers, am i wrong, i think reagan would have supported this fopping bill. it ain't perfect there's a lot of things you and i would change, but it is what it is. and they are are allies. what do you think? think reagan would have supported this and are they barking up the wrong tree. >> not a mess if the first place and going for them and driving down the barrel and they'd be worried about that and economy collapsing and more.

larry: my honor and i worked for reagan and trump. my honor. i know prince ancone. folks a quick break coming up and congressman on speaker johnson's foreign aid package and france got important financial issues that could be used to fund ukraine without spending american taxpayer money and remember, you can always catch kudlow monday through friday at 4:00 p.m. right here on fox business. if you can't watch us at 4:00 p.m., text your favorite 9-year-old and she'll show you how to dvr the show, and you'll never miss a ronald reagan decision. i'm kudlow. we'll be right back.

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it's t-mobile. it started when we tried to get him under a new plan. but they 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: about the big foreign aid bill and $100 billion and how to pay with my very dear friend arkansas congressman and it's ronald reagan and what would reagan do and he'd vote for it and this bill was done in my introduction and it would be reagan with 60 or 70% and help

them against the terrorist countries and what do you think, french hill. >> great to be with you and >> it's peace through strengths and that's his strategy for countering the adversaries and we're in a period of axis of evil led by russia and china and north korea and larry: reagan's speech was peace through strength and this is additional strength. good for you, it's smartest guy in the house. no question about it. now, we're a business show and there's going to be a way to pay for ukraine and unfrozen assets could be frozen and unfrozen and

then build the repo bill and then europe may come along and they got $300 billion just in the next minute trying to sort it out for us. the former banker and treasury man that you are. how could this work to our advantage? >> $1 million of central assets bank and the hit toll a trust in the name of benefiting ukraine and let's use the $300 billion and russian money and instead of american french or uk dollars to rebuild ukraine at covering the budget in the short run and say if they're in there and they're not exempt and ultimate sanction and it's going to have their

sovereign assets frozen and converted for reparations for the victim. it's part of this mike johnson package and that that is for starters. now you also, you've been e-mailing me and you've got favorable votes in europe that might infuriate the russians and would be fabulous to use it to help ukraine. >> this is the ultimate deterrence and had a vote on april 16th in the parliamentary council of europe in favor of converting the frozen assets in brussels to forfeit an as set for the benefit of ukraine and benefits taxpayers and a signal to putin regime get out of ukraine, stop hostile activities in ukraine and sue for peace. you're not going to stay in ukraine and this package and i want to see this economic

deterrence and factor also contributing to putin in this conflict. larry: you're saying it's $300 billion worth of russian money as in euros or whatever the currency is going to be and that money could be used to finance ukraine. >> right. that's what central bank foreign assets and other russian federations and sovereign assets and they can also be used and i'm focused on the central banking assets and i think you've seen support in europe from the chancellor in the united kingdom and foreign secretary in the united kingdom and this vote with the counsel of europe. we've made progress this. i think it's the right thing to do. larry: the funding bill passing tonight and tomorrow. >> i think they'll pass tomorrow

afternoon and america will come together. larry: you're so good. french hill, congressman from arkansas. thank you so much. coming up on kudlow. the great hewitt,. i'm kudlow and we're coming right back. stick with us. lik ♪ , but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell any commission-based products. (other money manager) then how do you make money? (fisher investments) we have a simple management fee, structured so we do better when our clients do better. (other money manager) your clients really come first then, huh? (fisher investments) yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different.

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this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. larry: my old friend hugh hewitt writes we're in a war with iran but biden doesn't know it, trump does. yes, he does. he's joining me now. host of hugh hewitt radio star and star of the tv shows and everything else.

hugh, thanks for coming on the show. read your article and loved it. >> good to see you, larry. larry: biden is in a war with iran but you're mentioning it's obviously russia and china, north korea kansas city chiefs and so forth. why don't they know? we've had three and a half years, hugh, of appeasement. one after another. and they have meetings with china and get yelled at and chinese yell at them and they cower and we don't fight back or take accounting standards boards and very un-trump-like. what's the problem with the bidens? start with that. >> well, first, it's good to see you again, larry. i wish you were around the white house to explain in simple language around the people of the white house the jpcoa didn't work and it was a bad idea and rye r iran is a bad actor and he been since the iranian revolution and they're worsening for russia and with russia and those three adversaries with

north korea and venezuela and cuba and those are the big three, china, russia, and going in the war and the reason they can't see iran and they're heavily invested in the mythology with the gram and going with iran and the religious phenomenal gnat icks and what would -- noodle rod to gnat icks and they're -- fanatic and president reagan sent weapons to the group fighting solve i can't tells in afghanistan and sending aid to ukraine and going with ukraine. they're behinded by many things and this mystical belief of human rights and going with the united nationed and civilized nations and how much is this about climate change? >> take a look around and

appeasing iran. larry: we just lifted sanctions from that great democratic state called venezuela and we never for the oil companies and how much is this about climate change and how much of this south carolina cheap gasoline and these are scheduled away. >> some is climate change and going with secretary car carey and thee psychology the iran deal and president trump got out of the iran deal and it was a terrible deal and it was bad for the world and good for iran and terrible for israel and terrible for the united states and they're wedded to it and i really don't know if we're ever going to get this wing of the

democratic party and it's wendy sherman who was wrong in the north korea deal and wrong in the iran deal and she was beating up on israel and the week before attacked by iran with 350 drones and i'll tell you he can't see what it is and they wanted it to be the world they wish it was. larry: president trump wants to regain this and he likes these treaties and these negotiations and multilateralism and he liked one-on-one and he wanted to take america's interest first and dinette rickly apposed to the bidens and obamas want to see and some sense trump is changing the whole republican party. that's a question that ronald

reagan used to ask also. >> >> it was internalized for many, many decades and not look at the border and not understand there's a crisis that concerns every single american and when i last talked to former president about two weeks ago, i asked him what do you make of the 44,000 chinese nationals that crossed into the country over the southern border in the last 18 months. they're building an army within. they're building an army within and he's a realist and i think we need realism. larry: well, if he comes back into power and you know this, he's not going to cowardly ran and not going to appease iran and that's a good place to start. right then and there and last point, hugh, china buying oil from iran and russia, they're financing two wars against the united states and the bidens never utter one peep about that. give you the last word.

>> that's exactly right and china is controlling its two main areas and russia and russia, iran and china with which to run the grand plan for the next 100 years and we've got to keep it clear and donald trump had a clear in his mind and republicans are getting it right as we speak on it keep going forward. we've got to bankrupt iran a second time as you guys did in the first trump administration. larry: great stuff, wonderful to see you today and all the time. switching gears, protesters at columbia university and anti-semitism and dei is alive and well there. we have deroy murdock and fox news contributor and senior fellow at spectator and daily collar, very busy. kept me out of trouble in the white house and brooke

goldstein, founder. you've been on the network today and we talked last night and about your views and dei fosters anti-semitism and anti-semitism is a hate speak and going for them. >> anti-ame about it and 23409 only funding this without iran to the tune of

billions of russia and china and being a guest and a million dollars to this higher education and that are radicalizing this and department of education and it's better filling the jewish community and american people that have been dozens of complaints outstanding for years and project filed the first complaint after trump's executive order, which allowed title six of the civil rights act to apply to religion to the jewish community, that complaint from 2019 is still outstanding and to think if the department of education dealt with columbia university in 2019, would we be seeing now what we're seeing? all the protesters, the 08 protester -- 108 protesters arrested and thank you to nypd for doing that, they were let out and new york is no bail and

they are right now back at columbia university with their prohamas and pro terror and chanting. larry: if they don't change, the policies don't change. the president's report to the board is that simple and learn that had with harvard and im to the best of my recollection and penn -- mea mit and penn. she tossed them into jail for one night. there's no victory here. >> we do. right now college campuses are breeding grounds for anti-semitism and should scare everyone. not just jewish americans and should scare every american and this is supposed to be the highest form of education in the country and people come from all over the world and to attend our

big universities and what are they saying and what is the world seeing? hamas flags being flown on american college campuses. they're seeing american students and american people that can't watch students and channeling death to americans and death to other people. it's on the record forever but that's just step one. we're going to see this repeatedly unless the biden administration larry: melania

trump and others with the pro america story and melania speaking to the log cabin republicans and a group i've spoken to many times and a group you've spoken to as well. bring in gays and others and so forth. bringing people together to help america and melania in this interview is talking about the values of the freedom and equality. not equality of results but just america's equality and there's something good going on. >> the whole transgender thing and talking with the 5 and 6-year-old and things like national security and economic growth and they'd want to pay their bills and many americans in this country and not just the transgender and other things are borderline pedophilia and giving that speech for brinell and and

the acting director of national intelligence and i think that this is a group of trump has addressed and there's a good number of gay americans voting republican this fall and the whole transgender americans are not very appealing at all. larry: brook one more thing and this is not a unity story and this is a in the wrong direction and running npr and the whistle blower and going for npr and let's see 87 democrats and republicans and she worked for the world economic forum and council and left winger and she's already said publicly she doesn't believe in free speech and they get about $250 million a year from the federal government and what do you make of that, brooke?

>> good r riddance to that rubbh and insanity that the taxpayer is funding politicized speech on public radio waves, and i'm looking forward to seeing how npr is turning itself around. larry: good riddance to bad rubbish. i'm sorry, we're out of time. good riddance to bad rubbish. we're out of time. good way to end it. thanks to all of you. folks, up next, senator schmidt and he's going to defend drill, baby drill and try to teach joe biden a bit something about earth day. earth day, sure.

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over natural resources and we have all the resources we need under our feet in the country and exports around the world and instead joe biden is retreating and not like people aren't using gas or energy. we have to get it from somewhere else. we have the lowest level of strategic peak spl troat yum reserve and national security and it's a war on energy and a war on the middle class. the truck driver that's got to fill that gas tank every week and it's gotten more expensive and stopping drilling in alaska. larry: yeah, now harvard poll out today and interesting and byron york reporting, young people, 18- i think 18-25 or whatever. young people, which is more

important? inflation or climate change? 60/40 inflation. which is more important. a job of climate change and 70/40 a job. biden doesn't even know his own politics. >> the policies of biden admin vagues have been a total sis aster and they're hoping to have a future and there's no future in the ridiculous policy of climate alarmism and it's like a religion. they're talking about worshiping sun gods and sacrificing cows. larry: how nutty is that and last few seconds, sir? that's 23409 what they're doing. larry: thank you, sir, talk soon. folks, be right back with my

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