Skip to main content

tv   Kudlow  FOX Business  June 13, 2024 5:00am-6:00am EDT

5:00 am
before he met his death at the alamo. - [narrator] of all the accomplishments in his 49 years it's his death at the alamo that secures the myth of david crockett. - in the days leading up to the siege at the alamo. david crockett is free to leave, but instead he chooses to stay and fight for the liberation of texas. rather than retreat as a coward, he fights heroically to live up to an image created by the popular culture of his time. in death, david crockett is able to become what he never could in his lifetime,
5:01 am
>> hello folks welcome to "kudlow" i am larry kudlow. inflation is still up 20% since joe biden took office people are still having trouble with personal borrowing cost and the fed doesn't look like it's going to change his policy really at all in this election year, we have breitbart john carney ann taylor riggs on all of that in just a minute i want to get crypto in your before were done with the story mr. trump is going to washington former house speaker kevin mccarthy influential gop senator, john cornyn on all that later on the show, let's go to edward going for all the details. what can you tell us. >> the federal reserve left rates unchanged for the seventh consecutive meeting in a row in the famed dot plot, the fed sees one rate cut at some point and they were two votes away from the two rate cuts but the feds projection showing that inflation will increase this
5:02 am
year they also believe their expectation for inflation will also increase. here's the fed chairman. >> we had really good inflation data and a pause in progress in the first quarter and what we took away from that it's probably going to take longer to get the confidence that we need to begin to loosen policy. >> the market is putting the odds at 58% for a rate cut in september, none of this changes what people are feeling, overall prices are up 19% from the month president biden came into office, food and shelter up 21% and the timeframe, electricity 29%, auto insurance 51.5% from the month president biden came into office. >> how close are we to the point where the consumer can't continue to spend is suspended or companies can hire. >> consumer spending is still growing it's not growing at the pace it was growing a year or so ago but is still growing solidly
5:03 am
but you are right we see the same thing other people see which is increasing financial pressures on lower income people and the best thing we can do is to foster a very strong jobs academy which we have done, ultimately to get inflation under control. >> we have the sense from the news conference in the fed chairman also believing that they are in that soft landing that he said could be possible. larry: you seriously think, does jay powell seriously thank that he could get away with the rate cut in september in order to juice joe biden's economy, really, seriously? you would have that rate cut happened at the time the hunter biden's tax evasion starts in los angeles, you think that's going to happen i'm interested
5:04 am
in the different scenarios a novice that i am. >> on her behind the scenes and people that i talked with it looks like the first rate cut will be after the election, the markets are pushing the rate cut forward in once a rate cut happened the markets will probably take off again. at this point, what i hear is possibly going to be after the election and market stay 58% september. larry: markets are always looking for rate cuts, thank you very much, we appreciate it. folks, mr. trump goes to washington a little bit different idea that is the subject of tonight's riff, republican donald trump goes to washington tomorrow to meet with the house and senate republican conferences. we will also meet with the business roundtable ceos, here's a thought for mr. trump, success is the best revenge and a strong economy with lower energy costs, supply-side tax cuts in rolling
5:05 am
back biden regulation should all produce a healthy and prosperous economy with opportunities for all working folks with all colors and all religions. in other words unity, just the thought, i have a sense mr. trump is going to go there, don't look for detailed blue prints, look for big picture themes like we can't have a country with an open border or we should be putting her foot down and enforcing sanctions against iran or we should be giving israel our wholehearted support to clean en masse as fast as possible. or we can't let countries like china take advantage of the united states with unfair trading practices that decimate our middle-class. or the new york times writes this long piece how trump policies are going to cost higher inflation.
5:06 am
i'm sure they will, wait a minute, these are basically the same policies he had in his first term when there was virtually no inflation. how can the same policy in the second term because higher inflation. in the newsroom of the new york times can tell us about that one. very dumb. the republican party has an opportunity to change the direction of this great country of ours. folks that want big government socialism, folks don't want huge tax hikes and rapidly rising prices, folks don't want electric vehicle jam down their throats, folks don't want venezuelan crime gangs commit across the board illegally and flooding our cities, folks don't want esg or gei and they don't want america embarrassed overseas like places like afghanistan, folks wanted chance to be law-abiding citizens for
5:07 am
strong family unit, the right to worship on the weekends without being harassed, the right to have the kids educated properly in school rather than the woke insanity, folks want traditional values and they want to rising economic tide that lifts all boats and provides new opportunities to climb the ladder of success. and yes, a lot of folks working in the gig economy would love to have tax-free tips from the grateful customers. look for mr. trump to make a lot of these points when he visits his republican party on capitol hill tomorrow, know what folks, success breeds unity, that is a fine message and that is my riff and that has got to be the dog plot. , tough call to that she's gearing up. we'll talk about dog plots, we
5:08 am
have jan carney bright caught in finance editor and taylor ricks cohost of "the big money show" on fox business, i don't know what you're telling me on the screen but i'm going to go to you guys, the inflation rate came in a little softer. i get it but you're left with the average working person over the duration of biden's presidency which is how things look at it, cpi is up 20% if i'm not mistaken off the top of my head grocery is up 20% also and something like 35, 40%. gasoline once upon a time on donald trump was $2. i know it was down in may and that was a big reason as a look at the cpi number, so what, i can't get excited about it. >> in figure make it a good point and highlighting disinflation which is the slowing rate of increases versus
5:09 am
deflation, john feel free to disagree, the federal reserve in the market took a big sigh of relief when you were getting a slowing rate of increase at inflation, prices are rising but the rising quickly. >> that's a fair point, i agree with that and i think that's right, it just does not excuse the sins of the past three and half years, this year started on a rapid rate of inflation, it's coming back and i don't know whether that stopped or not. it looks like a lot of energy prices coming down, the point is we have almost a 4.5% annualized rate of cpi inflation, the first four months of the year this being the fifth month, i get that, taylor speaks to truth of the big numbers. >> this is exactly why wall
5:10 am
street was relieved and the danger was inflation would keep re-accelerating. but i will say when i looked at these numbers there's troubling statistics. if you remember all the way back in april we had soft retail sales what happens soft retail april you get soft price pressure in may, what we are seeing is a softening of retail sales in april led to low inflation ma, that disrupts the immaculate disinflation story because of the only way we can get inflation down is to soften the economy, that reaches the risk that we could be heading to recession. if retail sales keep falling that will put us into a recession. >> i don't think were ever going to have a recession until the fed starts and try to scrub the economy but actually don't think
5:11 am
were heading, necessarily for recession in part because the clearest path recession was affected too early and realize they have to raise rates and that consisted recession. larry: i'm a mean and nasty country review they want to know why there's an over recession, i'm going to tell you why, profit, profits of the mother's milk of stocks in the lifeblood of the economy, do you want to know why their strong profit numbers. >> tele- >> donald trump cut the top corporate tax rate 35% to 21% and despite the fact that joe biden and all of his advisors have been pulling their hair out for three and half years trying to take that back, the country has prospered for the very reason trumps corporate tax cut profits come when you have lower tax rate, inflation has hurt them, the interest rates of her
5:12 am
time, at least on the after-tax basis, 21% marginal rate is what trump put in better than 35 you think i'm being henri, i'm not being in a vertical, one of the people don't want to talk about that. >> i think it's a good point, a lot of people will point out that and say corporate the other side will talk about corporate greed and because of raising prices on us too much i would argue we talked about this a lot grocery margins are only 2 - 3% grocery stores barely make any money but you're right the rising tide lifts all and you can cut the taxes on corporate rates and it will filter into higher wages because companies have more money. larry: year end appear assist, how about that you follow the facts, i tend to be a wee bit more political but i have fact my argument. i'm just telling you that lower marginal tax rates held profits which help the economy.
5:13 am
i don't think this is a booming economy because the business side is not booming and i greet you the consumer side has basically held up with some signs of weakness but i got one for you to before we go. you have a $1.7 trillion budget deficit basically i'm going to call it to trillion as far as the eye can see. it is close. you have a 4% unemployment rate, you have a 3.4% inflation rate still above the fed's target, john writing and conrad my old friends are the best of the business. , how can you have massive budget deficit with higher than necessary inflation and lower unemployment rate, john maynard keynes who invented postwar macroeconomics for better or worse is rolling over in his
5:14 am
grave, that's the point i want to make this is a crazy thing, biden is spending like there's no tomorrow in the fed is going to wind up having no choice but to enable him. >> the fed said today they brought it back from saint burgum have three cats to one cut but more important than that and very related to exactly what you are saying they looked out into the future and they said the long-term fed funds rate is not good to be 2.5%, they raise the longer run projection in the 2.8%, that's because the deficit is going to run so high forever that they have to have higher interest rates to fight the inflationary pressure forever which we said before we won't see a rate cut in a lifetime someday low cut rates but they're never going back to 2.5. >> they can do it, you cannot have on the one side federal spending like there's no tomorrow, federal outweighs as a share of gdp if something close
5:15 am
to 24% of gdp in peacetime is virtually a record it's darn close to a record, they have the budget deficit of 1.7 to 2 trillion of gdp what is at six or 7% of gdp. in peacetime with a 4% unemployment we don't have a depression, these are depression arguments and we're going to wind up inflation arguments. >> we have an inflationary party called the democrats they are pushing us into inflation and the fed has to fight with higher interest rates and that's exactly what is happening push the deficit up in interest-rate in inflation stay. >> to present budget deficits great again. >> i have to process that, it's probably a good idea. be sure to catch taylor brian brenberg and jackie deangelis on "the big money show" weekdays at 1:00 p.m. eastern right here on
5:16 am
fox business don't forget breitbart. >> it is free and comes out every day. >> coming up, mr. trump goes to washington, really this is getting very interesting is it not, we can ask a great friend for my house speaker kevin mccarthy onset what is you think trump is going to say already outlined in my wrist, we will publish it so you can read the darn thing. i am "kudlow", we'll be right liberty mutual customized my car insurance and i saved hundreds. with all the money i saved i thought i'd buy stilts. hi honey. ahhh...ooh. look, no line at the hot dog stand. yes! only pay for what you need. ♪liberty, liberty, liberty, liberty.♪
5:17 am
(♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®.
5:18 am
5:19 am
5:20 am
5:21 am
larry: post-conviction biden is trying to figure what to do about hunter. fox news peter doocy live from the white house with all the details, what is cooking, what can you tell us. >> president biden has not said anything on camera, he's not just choosing to skip talking to the american people about his sons multiple felony convictions, he is also apparently leaving the top communication officials in the dark as well. >> i have not spoken to the president about this sensitive verdict came out and as we all know the sentencing hasn't even been scheduled yet. what i'm saying the president
5:22 am
had not spoken to the president about this. >> that represents a break in the white house policy concerning hunter biden, there is no reason they should be able to comment about the possibility of a commuted sentence because i have commented many times on pardons before, this from december concerning the ongoing tax case. >> since hunter was indicted again in los angeles, why doesn't president biden pardon him. >> i've been very clear the president is not going to bargain. >> president biden is about to land in italy where the leaders will figure out ways and solutions for the war in gaza in the war in ukraine. there's good to be a press conference with president biden bladder moussa linsky there's no guarantee that any of us is going to come up with the two questions that president biden is obligated to answer while he is over there.
5:23 am
larry: did you put to them the commutation question i think the good commute the sentence i think that's what this is going. >> it came up aboard air force one and they won't commit to it one way or another which is very notable, that's a huge signal and when it came to president biden himself he said no it's not could happen many times officials from the podium have told us no, then a part in them. now there is a conviction in the president is about a commuted sentence and they're not telling us no is not going to commute the sentence they're telling us they do not know. peter doocy best in the business we appreciate it very, very much for much more on this and other matters, we are grateful right here onset former speaker of the house kevin mccarthy, thank you for coming on, a quick one on the biden thing, poppa biden
5:24 am
says no pardon but you can commute the sentence and he could get away with it. >> you think he would try to delay sentencing and get past november 6 and try to deal with it. >> they won't make that announcement off to the election. >> is trying to delay this until after the election. larry: interesting. how did you read it, hunters conviction and any implication for presidential politics. >> i don't think so, this is his son everybody knows hunters problems, i think was really happening is the more serious actions if he would've taken the money and the taxes in the irs whistleblowers, that is what should be tried but that would tie you to the brother and could tie up to the big guy. really dealing with this the biden's are happy, this is the
5:25 am
only thing that they went after. >> the tough one is good to be tax evasion when you look at the income and that's when the stuff that comer is going to put together which you sanction when you are speaker. >> they delete it long enough where they could wipe away the more serious actions. larry: you think they have wiped away? that gets me going, that is awful. >> the irs whistleblowers are remarkable people, have they never done that we would never be at this place today. larry: isn't that something. >> statute of limitations they waited so they gave him the opportunity, that was burisma money and the statute of limitations, the most serious portions the known irs individuals allowed it to go without trying. larry: like hillary when she bleached it. >> they do the opposite with us though. larry: they reinstall it, kevin mccarthy, former president trump is coming to washington to meet
5:26 am
with the house and the senate republican conferences. it's an interesting thing this is the first time doing this since taking the nomination, what would you advise him i know you're a friend what would you advise. >> i was with the president on monday and i think is more discipline you know him very well be served with him he's more discipline that i've seen before he said more, and that any human being has ever possibly been through and i think what i see he stays on message because he stays with the american people and on issues, even during the trial, i think it's going to be a rally members will be excited to see him any stronger than his ever been. if you compare this to where he was four years ago biden only won by 48918 votes but his favorability was plus ten now is at the lowest point of 37 of any president running for reelect reelection, it's a flip if you look at where the polls were four years ago it is a plus eight on president trump, this
5:27 am
is a moment in time for him to be going into the debate don't take debate in the debate stick on issues, you said it many times before it's all about economics and supporter in inflation. larry: success is the best revenge, prosperity is the unifier, that's what we learned as republicans down through the years beginning all the way back with my former boss ronald reagan. opportunity, growth, rising tide lifts all, all that stuff that's what unifies the country. >> it also drives people to him, they watched in his own life this is a very successful man but who is the biggest supporters, the working class of america, he like your old boss ronald reagan who was 37 years ago stood before the wall tear the wall down, what he realizes he is bringing more people to
5:28 am
the party that normally are not here and if you look at the bo boat, hispanics very close to winning a vote if you look at black americans, the highest vote in any modern-day publican was nixon at 13, he is at 22% no way democrats can win so they continue to go after but biden fails every time you watched him at his event the other night he is stiff. larry: your bullish on the gop. >> i think election day not only does trump when the senate, we won the last two cycles while everybody else lost in the house, it's easier to win the cycle that it was the other one. last time biden ran for president is the first time since 1994, not one republican and cabinet loss. trump's endorsement is stronger today than it was a month ago. not one person lost last night that had his endorsement. larry: kevin mccarthy, the best of the best thank you for coming
5:29 am
on. how do we fix the fed how do we fix the fed that's an interesting question. it might come up tomorrow and president trump speaks to the business roundtable or it might not but we're going to preview the whole story, we have fed governor kevin worsham, what would he do if by some chance he were in charge. we will ask him. remember "kudlow" available as a podcast, a different outcome episodes available every weekday right after the show on spotify, apple fox business podcast.com, we'll be right back. daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪)
5:30 am
wow... are you kidding me? you can do this. at truist, we believe the same is true for banking. if your business needs a new application then developers will have to write code. a lot of code. if an application needs to be modernized then you'll need time, resources... and caffeine. if this sounds daunting then use watsonx code assistant ai designed to multiply developer productivity so you can generate code quickly. let's create a more modern foundation for business, with watsonx code assistant. ibm. let's create.
5:31 am
5:32 am
5:33 am
5:34 am
larry: here's a very important question, how do we fix the fed. it's not about thought plots
5:35 am
were monthly point ones on the inflation report, let us talk to a fed veteran kevin worsham federal reserve governor visiting fellow at the hoover institution, are you still teaching of the business school, i want to speak that in the. use all today's action, they're only going to cut months, these.plots and forecasts are always incorrect at the end of last year, who's to say the neck would be incorrect. are they watching the right thing in your judgment. >> and award no, they're not in amplified today they cut today and they keep talking about how they're going to cut they say cuts are coming and they go back to quantitative easing, the ring liquidity to the market since december of last year, they called the world that they're cutting financial conditions are easier markets are looser and what is happening, inflation stopped falling in inflation anything is moving a little bit
5:36 am
backup, it's pretty good if you own financial assets but there taking huge risks with hard-working americans were paying a higher inflation tax every day. larry: that's right at the opening segment we had two terribly smart people but taylor riggs and john carney but the fact of the matter is the 12 month inflation rate is still way above the fed's target is one and a half points above the fed target but the more important thing over the course of mr. biden's term the level of prices has gone up about 20%. we haven't seen anything like that in decades and decades and it is killing them impersonal borrowing costs have gone up accordingly, i would ask you why is the fed to factor or otherwise trying to put new liquidity into the system. i would think they would want to be gradually tightening. >> i cannot speak to modems but they are goosing the academy for
5:37 am
full employment and their goosing the academy with financial markets that are about as hot as they've ever been in somehow surprised that inflation is finding its way back into the system. inflation dragon was below the surface, they needed to kill it instead they're giving sustenance and i worry that inflation is going to be a bigger risk not just in the second half of the year but next year to. >> if you were back at the fed as a governor or a vice chair or a chair would you recommend different targets. >> yes i would recommend a lot of different things but frankly they cannot wait they need to make changes in the policy right now because hard-working americans -- >> what would you recommend. >> let me sink my teeth into it. >> let me give you three quick wins, get rid of the dots. larry: i love that. >> they are predicting things they cannot predict they have been wrong so it hurts the credibility and the credibility is more important even than the printing press in the dots when
5:38 am
they say how many cuts are they going to have spoon for due the market we want to get markets to inform policymakers and markets to tell us what is really happening so we clouded the whole thing, that is number one. number two i would stop all of this forward guidance and get rid of it entirely, today the chairman of the fed spent an hour in the press conference changing his views about this and that, all the fed should say, if this happens to inflation we are going to do x, that happens to inflation we are going to do why we don't need to talk about everything else. larry: no normal average person working a job understand any of it. it's all government bureaucratic washington gibberish. really we met i totally agree to make a third and final point, we've got to stop giving incentives for congress to spend a bunch of money we do not need on projects that we don't need
5:39 am
at the wrong time at the wrong price because the fed is in the quantitative easing business where the fed is buying treasury bonds it is suppressing yields and telling congress you can spend all the money that you want but there is a big bill to pay in that's been facilitated by the federal reserve. larry: i never understood this jay powell whom i know and you know why doesn't jay powell go to congress and tell them to stop spending like greenspan did and like volker did in our lifetime, how can they keep spending in the fed not enable them and conquer inflation, doesn't work. >> i think it's worse than that he went to congress and he said please do spend the big mistake that you can make if you don't spend enough to get us to the pandemic and that led to a huge inflation surge that was a set of bad policies and we need a regime change with the policies that reward work, deregulate the academy to bring energy independence and if we have those we can have a stronger
5:40 am
economy. larry: good appointees to the fed, kevin warsh, thank you very much. i like your spiffy green tie. president trump i think with sheer genius on sunday in las vegas, no more taxes on tips, that is a real blue-collar tax cut, take a listen to what mr. trump actually said. >> this is the first time i have said this and for those hotel workers and people that get tips you could be very happy because when i get to office we are going to not charge taxes on tips, people making tips, we are not going to do it and were going to do that right away, first thing in office because it's been a point of intention for years and years and you do a great job of service and take care of people. i think it's going to be something that really is
5:41 am
deserved. larry: that is fabulous, i'm telling you sheer genius, the best thing i've seen since sliced bread. we were able to redo the furniture onset and bring in liz peek syndicated columnist and fox news contributor and tammy bruce a fox news contributor, tammy bruce, no taxes on tips is the ultimate gig academy working class waitress chambermaid restaurant, this is the greatest thing i've ever heard. >> i remember when it switched we were always taxing tips that shifted years and years ago and then you have these things that are not fair and not normal and you get used to them and to become the new normal, that is genius and something that can be stopped, you have these things that reward people for the initiative and the good service for rising above and beyond, it makes it and embrace it more, because you more of an impact,
5:42 am
it also reminds people you can get government out of your life and the most minute details and it is simple and there's the genius of trump the nature of really thinking about the average person and what can the government do to make their lives easier. larry: it's like all the left-wing democrats in the culinary union in las vegas, they're going to say why didn't i think of that, we agree but trump's a convicted felon so we can support it. the fact remains all of their workers or get a vote for trump. >> you mentioned the gig academy, democrats are absolutely hell-bent on suppressing the gig academy, they hate it because those people those workers typically don't want to join unions and it's hard to unionize in. in california and other states and efforts nationwide doing this they want to put on regulation to regulate the per our pay for uber drivers
5:43 am
nonstop, this is so much better to tammy's point it is simple, make these people whole economically by taking away the taxes, it is genius, much better. >> i'm recommending writing a memo to the front office all fox business host on a tips basis. >> don't forget contributors. tammy bruce, more staff, mr. trump goes to washington it sounds like one of those movies 40 or 50 or, god knows how many years ago but in fact he is going to be with republicans in the senate and the house and i believe the first time in a formal sense he is the standard bear here in 2024, what you make of that, what do you think is going to say. >> is important because that's what the leader does he's embracing the fact that he has a job to do if you selected which i believe will be the case, starting next year, it's like coming up in the blink of an eye, he is preparing this is what the making people want a leader who is engaged with congress and the house and the senate and with the american
5:44 am
people but you cannot start on january 20, you must start now and part of the rhetoric reflects that as well giving the american people a sense of what is to come about policy, specific policies like the tip issue as opposed to the vagary of saving democracy, i mean come on the american people know how policy affects their lives, courtesy of the disaster of the biden presidency and what he should talk to them about is them being united, move forward, stopping the biden agenda wherever possible because it's a disaster and making sure that they know there is a leader to hit the ground running. larry: on that point on tammy's point, you cannot take, keeping democracy, how does biden put it, you can't take keeping democracy to the grocery store it is not by anything, have you ever thought about that.
5:45 am
you can't fill up your gas tank with democracy. >> i think this is a wonderful thing that he would do, the republican party needs to unite absolutely 100%. by the way these are human beings and congress, they love being included in trump's oura, they love being talked to, taken seriously, what is the last time joe biden spent any time on capitol hill, i don't know but i don't think he does it very often and i don't think he's capable of doing it. larry: that would be a lot of selfies. >> without a doubt. right now trump is the leader of the party and to tammy's point has to solidify that it's a very good move for him. >> i think it is to i think it's going to be unity, success, very widespread were all good like it very much, liz peek, tammy bruce, coming up on "kudlow" mrd we will talk about that with john cornyn, we also have nasty stuff about russian related isis
5:46 am
terrorist creeping across the border and wrecking the united states, stick around, john cornyn up next, me o everyone say space pod! (♪) meanwhile, at a vrbo... when other vacation rentals are just for likes, try one where you'll actually like.
5:47 am
children are the greatest joy and our best hope for a better future. friends, they are the future. but did you know that millions of kids right here in our own backyard are facing hunger every day without healthy food? it's harder to grow, to thrive, to feel their best.
5:48 am
the impact when children don't have enough to eat is tremendous, because when you're hungry and your basic needs aren't being met, you cannot learn. every child deserves to be fed. this is a problem we know how to solve. food is not just food. it's energy. health. confidence. hope. and even love. yes, love. breakfast in the classroom contributes to kids being more focused, which leads to higher grades and simply just their well-being. thank you! learn more about how no kid hungry is helping end child hunger in america at helpnokidhungry.org.
5:49 am
5:50 am
larry: mr. trump goes to washington part three, joining us to talk about it is
5:51 am
distinguished texas senator john cornyn, thank you for coming back on the show. i have a lot of things for you, one of them is texas being a border state, border state beaded open border even though governor abbott has done the lord's work, you know the story, eight illegals in the isis cell, they were russian related isis illegals floating across the border, we don't, still to this day, we don't know who is coming across the border and do you think that mr. biden's most recent executive order that it according has done one bit of good to change anything? >> it's done nothing because it was strictly related to trying to help in the polls this was not anything about closing the border in the isis related individuals have been disrupted by the fbi, i'm afraid the tip
5:52 am
of the iceberg, the border is open to anybody and everybody who has the money to make it to the border to come across in the biden administration just released them and did not know anything about them so they didn't have anything in their background information that would describe most of the people they release. i used to say it was a matter if a terrorist attack occurred, now it's a question of when it will occur, it will occur the only question is when and it's because of the biden open border policy. larry: as you know mr. trump is coming to washington tomorrow and he is a hardliner on closing the border and restoring the kind of order that he had while he was president, senator cornyn, you're a veteran and in a leadership race and so forth, what would you like to hear mr. trump talk about two-year senate republican conference
5:53 am
tomorrow? >> what i want to hear from them is the path to victory in november, of course you cannot govern without winning and right now i like his chances a lot and i like the chances of us getting the majority back in the senate, we had the speaker come in today talk to the senators in the republican conference and he seems optimistic about their chances there but then the heavy lifting begins, we need to pass a budget, something that hasn't happened recently that we need to save the american taxpayer from a 4 trillion-dollar tax increase with the expiration of the tax bill that passed in 2017. i think it's really important for the president to come to capitol hill and us to become unified as we work together toward victory in november but then the hard work begins. larry: do you yourself favor and extension of those trump tax
5:54 am
cuts? >> absolutely. as you know the president biden said he would let the cuts expire which according to the wall street journal 62% of taxpayers would see a tax increase. on top of 40 or high inflation and people still suffering from the higher prices on literally everything that they buy, they want to compound the injury by raising their taxes to. it is a disaster we cannot let that happen. larry: let me ask you one more, i know you were in the leadership fighter, there will be one after the election and so forth. i am reading any republicans in your conference want a term limit republican leader, do you favor the term limit? >> i am willing, i certainly am open to that, of course each two years that we have an election but the truth is we have had the
5:55 am
same leader for a long time and i believe senator mcconnell has done an extraordinary job but now he is stepping down and we will have a new leader of the party and of the will of the republican conference that we have term limits i'm certainly fine with that. >> correct me if i'm wrong, committee chair are term limited, are they not? >> virtually everybody is term limited i used to be the web for six years during president trump's time in president i worked closely with him in his administration. i think we did a lot of good and i'm looking forward to doing that again. everybody else is term limit except for the leader. larry: we are going to have to have a creative, i only have a couple of seconds but we will talk more over time, creative reconciliation package next year to get the tax cuts and spending restraint.
5:56 am
senator john cornyn, thank you for coming back on the show, we appreciate it very much. >> good to see (fisher investments) at fisher investments we may look like other money managers, 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. (fisher investments) at fisher investments, we're clearly different.
5:57 am
5:58 am
5:59 am
one, two, three, four... [female narrator] dangers rarely lie out in the open. so no matter where you live, it's important to know harmful pests can hide in and around your home. ready or not, here i come! [narrator] termites can destroy wood, making your home unstable. and stinging insects can be easily agitated, inflicting painful stings. [girl] i know you're out here.
6:00 am
[narrator] rodents and cockroaches are drawn to food waste and garbage. i [girl] i can hear you. [narrator] rodents, ticks and mosquitoes can all spread dangerous diseases and cockroaches can leave behind allergens that trigger asthma attacks. i gotcha! oh man! seek the facts you need to keep your family healthy at pest world dot org. [children] one, two, three, four, five... be one that is it for "kudlow". thank you for watching folks. ♪

17 Views

info Stream Only

Uploaded by TV Archive on