have anti-fiat currency currency in your portfolio so you're protected against some of those actions. liz: fiscal and monetary are different. central bankers are monetary. >> correct. liz: fiscal is what the government spends. that said we have the debate tomorrow night own cnn which will simulcast here on fox news. what are you expecting to hear that might change anything? >> i think what will surprise the market is a really poor performance by one of the two of them. liz: i see. >> right now you have a pretty tight race, right? i think if you had the bad performance of one of them, friday last day of the quarter. ♪ h. [closing bell rings] >> you will see that in the last day of trading. liz: we have a win for the dow, s&p, nasdaq on kind of a directionlesda we will see you tomorrow. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. joe biden, donald trump, getting

ready to square off tomorrow night, cnn presidential debate, the whole world is watching and speculating and opining. congressman jim jordan will be here in a little while. he will talk about that, much more in a couple of minutes. first up fox news senior white house correspondent jacqui heinrich, has the latest from both camps. jackie, what is cooking? >> larry, it has been six days now since we've seen the president. he is hunkered down ad camp david, with 1of his closest advisors. reportingly wrong klain, former chief of staff is taking a lead role helping him prep for the debate. this is can verted hangar, movie theater, into a makeshift debate stage according to "the new york times." according to that report the formal mock debates have begun. the trump campaign thinks that people should be outraged by all of this. >> i don't think that this is getting enough attention in the media how biden is elevating the bar for himself taking entire week off.

i'm sure that the families of laken riley or rachel morin probably don't like joe biden is taking a week off to get ready for debates? that's, how do you take a week off like that when you're the leader of the free world? >> reporter: in that press call yesterday the trump campaign said they expect biden to be ready. his muscle memory will kick in after 50 years of politics but they also said he will be probably filled with adderall like state of the union. they predict interference from cnn moderators. team biden says that's a sign they're nervous. >> i worked on hillary clinton's campaign. you know, she also debated him very effectively. he accused her being on drugs. president biden defeated donald trump twice in previous debates this is what he does, because he doesn't have anything else to run on. he doesn't have a plan. >> reporter: now the former president is rejecting formal preparations, opting instead to hold policy discussions out on

the campaign trail. according to reports biden's team has studied trump's recent comments to see what gets under his skin the most in order to trigger him. the biden campaign is broadly leaning into the messaging trump is convicted felon, if they use any of those lines tomorrow night it could draw a personal counterpunch because hunter biden shares the same title. just yesterday his law license was suspended in washington, d.c., after his guilty verdict on the gun charges. larry: i love the part about muscle memory, that is completely awesome news reporting, thank you ever so much. in the economic debate individual freedom, always beats government central planners. that is the subject of the riff. ♪. so why is it that so many economists still believe that if government spends your money is okay but if you keep more of your money through tax cuts it's

not okay? let's take inflation. a group of 16 nobel prize-winning economists signed a letter yesterday endorsing joe biden, basically because they think donald trump's tax cuts will increase inflation. all right. these are nobel prize winners. trump tax cuts, inflationary, but biden's enormous spending and borrow something somehow not inflationary, get it? of course you don't get it. most of the noblists are liberal, left-of-center democrats. here we go again. any way, here is ronald reagan 40 plus years ago talking about the very same thing. take a listen. >> they never answer one question that i keep asking and you probably heard me ask it, why is it inflationary if the people keep their own money and spend it the way they want to and is not inflationary if the government takes it and government spends it and the way it wants to? i think that is fabulous. it is very likely donald trump

will ask that very same question of joe biden in tomorrow's debate, and, i hope mr. trump asks biden directly in the debate whether he would support, he, biden, would support the trump plan for tax-free tips for all those waitresses, and mater des, golf caddies, uber drivers, millions of others in the gig economy that rely on tips? let's see if trump can smoke mr. biden out early. then back to the foolishness of the 16 nobel economists. when donald trump was president he cut taxes, opened the fossil fuel spigots, rolled back regulation, and inflation rate for his whole term was, wait for it, 1.9% at an annual rate for four years. joe biden on the other hand has been a huge federal spender, a tax hiker, an anti-business regulator, waging war on fossil fuels, and his inflation rate, hang on a second, 6% at an

annual rate. that's three times trump's pace. so, if trump is pledging to essentially repeat his first term policies, why is inflation suddenly going to ratchet up? on the other hand when joe biden intends to deepen his first term policies, why do we suddenly think inflation is going to come down? >> we've had a laboratory test on two different economic policies, with two different inflation outcomes. all these eminent noblists want to ignore the plain facts. why is this? one reason liberals believe in the power of big government. conservatives believe in the power of the individual. liberals believe in the power of regulation while conservatives believe in the power of free markets. finally liberals love the idea of redistribution, which we used to call taking from peter to give to paul. conservatives believe in

rewarding success by what we used to call growing the economic pie larger. so, in tomorrow night's cnn presidential debate voters will see two very different economic philosophies. but you know what? you can't have two completely different set of factoids. the facts are on mr. trump's side. the nobel prize winners are totally wrong. i believe economic freedom always wins while economic collectivism and central planning always loses. there you go. that's tonight's riff. joining me now, is a fellow free marketeer. we bring back ohio congressman jim jordan, who among many other things chair of the house judiciary committee. mr. jordan, mr. jordan, why is it that all of these fancy eminent economists they think if you get to keep more of your own money through tax cuts that's bad but if government spends your money that's always good?

why is that, jim jordan? you and i have been around forever and it is the same song always. >> same song and it never works but they think that because they think they're smarter than us, regular hillbillies in flyover country, the disdain they have for the folks. remember peter strzok in northern virginia walmart store, says i can smell the trump supporters. that is what they think about regular americans in the heartland. regular american, as you point out, larry, know how to spend money more than the bureaucrats in d.c. than the state capital. that is fundamental principle. tomorrow night president trump will make that point clear because i think he will talk about his record. in 3 1/2 years, we literally went from secure border to no border, safe street to record crime, two dollar gas, four dollar gas, stable prices to record inflation, all in the time joe biden's been president. he will talk about that. that connects with the american people. larry: well you know, jim

jordan, here's the thing, it's okay, we have different debates. everyone has got an opinion, that's fine but you can't have your own factoids, that's the thing. >> right. larry: the thing that struck me so absurd, all these nobel prize winners, fellow, look at what the facts were. trump program 1.9% inflation at annual rate for four years. joe biden's spending program, 6% inflation for 3 1/2 years. basically three times the inflation rate. i mean, these guys are nobel prize winners. they're supposed to understand numbers and factoids. >> yeah. larry: you can't have your own factoids. i'm sorry. you can have your own opinion but can't have your own fact. >> can't have your own facts. those good policies you were a part of putting together for the trump administration made it so everyone's real wages were up for every demographic across our population. that is why you're seeing black americans say, we're going to be more and more of them will vote for president trump. hispanic-americans on the border saying we like the economic

policies of larry kudlow and president trump. we like those, we like a secure border, we're going to vote for president trump. that is why you see this move and president trump up in every single poll. also this fundamental point, no president, certainly in my lifetime did more of what they said they were going to do than president trump did. said he would cut taxes he did. said he would cut regulations he did. side he would build the wall. said he would but conservatives on the court. said he would put the embassy in jerusalem. so it goes. people remember that. that will be a key factor on november 5th and certainly tomorrow night. larry: i have a good headline, washington post poll, donald trump stronger than joe biden on protecting democracy, 44-38%. no, 44-33% is what this is. now that is very interesting because mr. biden says he is going to run on democracy.

we're talking about january 6th, this and that, oh, wait a minute, mr. biden tried to keep trump off the ballot in a couple of states. mr. biden, his lawfare doesn't seem to be working. don't you find it interesting, ironic, that "the washington post" poll, wash upon post which -- "washington post" nobody reads anymore, they're going bankrupt that is different segment, the point is on democracy that will come in tomorrow night. >> it is lawfare, ridiculous attacks, cases against president trump. it is 14th amendment issue. the democrats said the best way to beat president trump is not let him play the game, not let him run at all. they tried that. thank goodness the supreme court said 9-0 that's garbage. we put out a report yesterday where these 5intel 1 intel offis said the laptop was russian

disinformation. they knew the facts. top people at cia reviewed the statement. we know agents were saying we shouldn't do this, this is political, a bad look for the cia we know some of the people who signed it were actually on contract at the cia when they did, they did this 15 days before a presidential election to mislead the american people. larry: so what happens? it's possible that hunter biden's laptop computer will come into play in tomorrow night's debate. if joe biden starts slinging mud back and forth, i'm sure mr. trump will raise that point. hunter him is a convicted felon. biden lied about it in 2020. flat-out lied about it. here is another study from the judiciary committee that shows the cia people, some of whom were still on the payroll as contractors, you know, created this, i'll say little white lie although it was a national security lie? >> yeah.

including the guy that put it all together, mike morell. he was the guy on contract at the time. he wanted to do this for obvious political reasons. we want to do this so president biden can use it in the debate against president trump. this worked like he said. he was doing it for the political reasons. he did it because he wanted to be a cia director in the biden administration. that is how bad it was. american people see through it. president trump should focus on his record. if he does that, that is what to run on. he did more of what he said than any president i ever seen. larry: bet on it, he knows it sir, he have knows it too. mr. jim jordan, chairman of judiciary committee, old friend. thank you very much for coming back on. don't forget to tune in fox news simulcast of the cnn presidential debate, tomorrow night at 9:00 p.m. eastern. coming up here, trump's policies kept inflation under 2% in his first term. why would the same policies cause inflation to surge? this is too bizarre. we will ask steve forbes and kevin hassett, who are smarter

than the 16 nobel prize winners. remember, catch "kudlow," monday through friday, 4:00 p.m. right here on fox business. if for some reason you can't make it at 4:00, please text your favorite nine-year-old and she will show you how to dvr the show and you will never miss a single free market tax cut ever, i promise you. be right back. ♪. [thunder rumbles]

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larry: i want to revisit this issue. why are tax cuts always bad and government spending is always good? why do nobel prize winners believe all that nonsense? joining us steve forbes, forbes

chairman editor in and chief and kevin hassett. you're the fartherest away. it is same old stuff. i don't want to get into personalities. it is really about economic principles, but as ronald reagan said, we played the clip earlier in the show over 40 years ago, why is it you get to keep more of your own money, that's bad, through tax cuts, but if they spend your money, if government spends your money, that is always good? in this day and age, how can people still believe that nonsense? >> yeah, i don't know what is going on with these guys but you have to remember that the nobel prize is, itself a partisan thing, that if you want to get a nobel prize in economics you have to write a paper that says markets don't work, supply-side econmics don't work. larry: right. >> if you do that like bob schiller, mr. irrational exuberance when the dow was at 5000. so these guys are partisans right now. some of them are my friends. the thing i would say that is disappointing as a economist, we

have all the great brains in one room. why don't they write a model down shows me where they get the effects from? why doesn't they say, here is the what the policies are, here are what the effects of policies are, we can sort of unwrap it. we should listen to them because they're smarter than us. i think that is someplace they really shouldn't have gone. larry: steve forbes, the other thing, there are facts in this debate. you wouldn't know it the inside facts i read their letter. trump says i will prize my policies first term, some fundamental, reopen the spigots, biden presumably will raise taxes and keep on spending. you had data. one model showed low inflation. one model showed high inflation. the nobel prize winners took high inflation model said it was low inflation. don't you think people see that, see through that, ordinary folks read that if they care, see

right through? >> maybe economists like those should have to read alice in wonderland, get a idea where they're at. it is about control. they trust themselves more than people. people do things, entrepreneurs do things without permission. that's why they always want to regulate, get their paws on it. they say we have to have more say what you do. they're going full boar with this modern socialism. every agency is going bonkers trying to control businesses which big companies can't cope with, small companies this is a killer. which bodes i will for the future if this crowd gets back in again. larry: kevin hassett, you wrote a book about this, stopping the drift towards socialism. these big shot economists are happy to drift towards socialism even though they don't exactly put it that way. what steve forbes said it is true, always struck me, ronald reagan did this decades and decades ago, how about this? you and i will spend our money

more wisely than some unelected government bureaucrat or regulator, or even for that matter a professor? we know, and if we don't know we'll learn, okay? that is the way life works. you even learn from your mistakes. they don't have that in mayor models. that is so disturbing to me. >> right. they don't american from their mistakes. the clip you played from president reagan was exactly on point because these same economists, to a man, and woman, they put out a letter saying how wonderful biden's policies were before inflation took off and so you would think maybe they would write a letter apologizing for giving cover to a policy that ended up creating so much misery in our country. instead they double down, say oh biden is wonderful, and trump is not. the thing i think it is interesting the last thing about this letter to me, larry, when you look at the way the mainstream media is covering it, they never manufacturing the first signatory is the husband of the treasury secretary.

that is kind of a relevant fact, right? this guy organized his buddies to support his wife. the fact that is very relevant but the reason it came out right now you know president biden will be quoting it in the debate tomorrow night. larry: good point. i will say at a dinner party, when christine lagarde left the imf as executive director i sat in between janet yellen and george. i might add, both lovely people personally and he is very charming man. >> sure. larry: for all of the disagreements. i never personally had any problem with ms. yellen. just we disagree. she is another one, treasury secretary, she was in the papers today saying that trump's tax cuts are responsible for all the deficits and borrowing. really? is that true? really? >> really. look at revenues, up and look at, look at spending higher than it was during the covid crisis. tells you all you need to know but why let facts get in the way. say it, pretend it is true. like alice in wonderland, it is

because you say it is. don't you know? larry: i want to see trump smoke biden out early. maybe biden will surprise the whole world. i think the way to do it, certainly he can talk about tax cuts versus spending. perhaps he will, ask reagan's question, but i would like to see him talk about the tax-free tip proposal. spring it out. what do you think about this, mr. president? this is from one president to another, what do you think? would you join me in calling for tax-exempt tips for waitresses and caddies and uber drivers, the whole gig economy, numbers 10 million plus? i would love to see that. smoke him out. >> they might then get rich and that's bad. larry: oh, no, no. >> they might get more prosperous. the amazing thing is under trump the evil trump, lower income people had a bigger rise in incomes than they did higher income people. larry: yeah. >> the gap was finally closing when you have a vibrant free economy but these people, again it is about control.

call them the consult of keynes. larry: kevin, keeper of all the data points. i was raving today, some analyst put out in 2018 and 2019 the two years after the trump tax cuts, real average median family income went up $5000 each year! i saw that, five grand each year. now that same comparison i think has fallen $2000, slightly more than $2000 during mr. biden's tenure. so what do you make of that? anybody will talk about that? my guess is mr. trump will have some numbers? >> yeah he will definitely have some numbers. i have got to say as an aside i spoke to the president recently, and he is really serious about the tip thing, if he is elected it will happen, 100% it is going to happen. the thing about lack of intellectual curiosity. income inequality go down, real

wage growth goes up because of corporate tax cuts you helped design, larry. the fact we have all the nobel prize winners are not scratching their heads, why are real incomes going down under biden, why did they go up under trump? why is it all of sudden going to reverse? the thing i would say to biden real wages shrunk for eight years under president up obama. they shrunk for four years under biden. joe biden for the american work he, you're 0-12, 0-12, why should we give you another chance. i would like to see a nobel prize winner give me an answer but they will never try. larry: steve forbes, important point, average families, ordinary working folks go to work every day, kitchen table issues, gasoline, they know this they know, which was better, four years ago, or a few years ago? they know this, four years ago, or last year. i mean, again, there is a wisdom to ordinary people that experts

will not acknowledge, will not permit, will not -- >> that's why you find in the polls people who say they themselves are doing well, they're okay, have a dismal view of the future. they have no faith we know what we're doing. they have no faith the government knows what it is doing. they fear inflation may come back again. so even if things are starting to improve, they don't believe it's for real. when you look at the numbers on investment, what does that tell you? faith in the future is lagging. larry: yeah. that's the consumer confidence numbers are so bad but i think that's confidence in government or in this case a lack of confidence in government. i think that's where all that comes from. got to get out of here, nobel prize winners. i give each of you your ohno bell prize. steve forbes, kevin hassett, good to see you. folks, coming up tomorrow cnn presidential debate is according to one pundit donald trump's to lose. great column today in

"the wall street journal" by our friend jason riley. very interesting point of view, donald trump's to lose, we'll talk about it with ben domenech, tammy bruce, deroy murdock. remember "kudlow" available as a podcast, episodes available every weekday right after the show. spotify, apple, foxbusiness.com. ordinary folks are smarter than expert tween numbers and people. ight s. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there.

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first and second notch, it's the only thing i've kept from before losing weight and i'm keeping this because i'm never going back. ♪. larry: big story unfolding. president trump surprise, he appeared or was on the phone or something at a barbershop, deep in hotlanta, georgia, today. grady trimble live from hat atlanta, with all of the details. grady, did you get a trim or what happened down there? >> reporter: larry, [laughter], i wasn't in the room but how's that for debate preparation. we've been talking about how the candidates are preparing and that's one way to do it. he took questions from the people in the room there, the former president did.

this was a conversation with black business owners here in atlanta and, congressman byron donalds was moderating it. he was joined by former hud secretary ben carson and yes, to the surprise of everyone in the room, there you see it, byron donalds taking a call from the former president himself. they talked mostly about the economy. one person joked that black people will vote for trump if the president can get gas prices below a dollar, and here is trump's response. >> i don't know if i can guarranty a dollar but we'll get it as low as we can that is a big spur for the economy. the lower you get the that is a big, big spur for the economy. i just came up with the concept with no tax on tips. let the people earn what they earn. it has been so popular. now the inflation is a disaster, it is killing the black community and it is killing the

country. >> reporter: now the biden campaign also held an event with small business owners here in atlanta yesterday. president biden and surrogate the like senator jon ossoff for george disbarks they are making the case all the government spending taking place under president bite's term and presidency, all of that is spurring private sector investment. that is the economic pitch they're making to voters here in atlanta. it may come as a surprise to you, larry, maybe not, president biden did not call into that event yesterday like trump did today. larry? larry: shocking, absolutely shocking. grady trimble, thanks very much. let's talk about this whole story, when we bring in ben domenech, editor-at-large at the spectator, fox news contributor. tammy bruce, fox news contributor. deroy murdock, another fox news contributor. thanks to everybody. deroy, i can't think of better

debate prep seriously than what biden is doing, what trump is doing, very typical, hands on, interaction, talk to real people whereas mr. biden is up in camp david, sequestered. they built him a little debate arena. they got 16 people pounding him twice a day which i think is an impossible story. what does that tell you, what does that tell you who will be better prepared and who will win this debate? >> what it says trump is staying close to the people and asking these businessmen and business women what can i do for you, what are your problems, what are you facing with your customers? of course they respond inflation's a problem. high taxes are a problem. rising energy prices. i think having his hands on the pulse of the american people is very important. he does that very well. and conversely biden's been completely isolated almost a week. by the time he shows up it will be almost a whole week not seen in public. that sort of isolation keeps them further in touch, out of touch i should say, demonstrates

how completely he is detached from the american people. larry: ben domenech, go out to you. you could be in a hangar someplace with 16 people pounding into your head all your campaign slogans and numbers. you hear what deroy had to say. more importantly you heard what mr. trump had to say with the black business people down in atlanta, georgia. to me it is like, that is the difference between these two candidates. trump, hands on, south bronx, okay, barbershop down in the middle of hotlanta, georgia. mr. biden up in splendid isolation with all of his perks, all of his advisors, whatever else he has got. i mean really? this is the best lead-in into a debate i can imagine, ben. >> well, look i think that the former president's idea, revolutionary idea actually talking to the american people at this stage is something that the current president simply can't do. he has to be you know, getting

his daily massage and his iv drip and everything else that he needs to get ready for this debate. look -- larry: that is unfair. >> i think, i think that it's, well, no, harry, i'm serious about this. the central question of this is about which president you believe will be better for the american people for the next four years and when it comes to that question, i think the problem for joe biden is that no one believes that he will be president for the next four years. they believe that they're voting for joe, and at some point getting kamala harris whether they like her or not. that is something a huge defect for her campaign. someone who wanted to prove their robustness, prove their ability to talk to the american people would be out there doing exactly that in the run-up to a debate. instead we're having the earliest debate in american modern presidential history, because of the fact that joe biden feels he needs a reset and

feels he needs to prove he is capable of doing this. they will do everything they can to make that possible and that doesn't involve talking to the american people. larry: let's go on that point, tammy bruce, very interesting. jason rilely, smart guy, writes in "the wall street journal" today, it is the president's debate, presidential debates, donald trump's to lose. what jason is basically saying joe biden needs to do really well and if he doesn't, they're going to pull him, they being whoever, i don't know who they are but democratic elders at the convention or some such thing. jason is saying if donald trump has an off night, mike good win of the "new york post" says something similar, trump could have an off night doesn't matter very much. if biden has a off night, absolutely death valley for him, what do you make of that point of view? >> that is one of the arguments why the debate is so early. gives them time if president biden has a horrible night, has a collapse rhetorically, does very badly gives them enough

time to move him out. so i think that's possible. they see the polls. they now believe the polls. at first they were saying they didn't. at the same time, people i think right now, generally know who they like. they understand what's happened. it is so dramatic click. it is not, like a seminar at stanford you're sitting around a table, you have to wonder, read things, try to figure it out intellectually. every day americans lives they realize what happened to this economy, the quality of life and the safety of their children who will likely be drafted and put into whatever world war iii is and then to say nothing of the crime on the streets of the country. this is not brain surgery. americans know, nobody is waiting for that thing to tip them over. oh, i don't know, biden or trump? i can't figure it out. people have decided, and yet, there are some people who are hanging on by a thread. the biden campaign continually is working to keep their own base. trump is constantly moving to

expand his. larry: that's right. that's good point. >> i think that tells you what they're seeing internally what the numbers are. if any biden, moderate democrat or independent support that he might have starts to collapse, even more, that would give them the ability to find out early enough. larry: you know, deroy, listen to what tammy is saying. i can't quite figure out, with the 16 advisors, he is, they have created this debate setting, i don't understand that. what is it that they're doing? what is it that they're saying to him that he doesn't know or shunt know? he has been a politician at federal level for 50 years plus. whether you think he is good or bad is irrelevant. he has been around forever. his knowledge should be encyclopeaic. >> tech nature. >> if he doesn't understand the immigration problem or doesn't understand immigrants are inaing or murdering people, doesn't

understand that, prices are going up, real incomes, i don't understand. when i first read about it in "the new york times" i scratched my head, really? it's that bad, he is so out there he doesn't know what's happened for 3 1/2 years? >> you're right. this should be second nature. larry: for a guy he doesn't know now when will he know? >> inhaling exhaling. he was elected back in 1972. richard nixon was president of the united states. all in the family was biggest program on television. internet was conceived. larry: he has been around forever, 50 years [laughter] >> 50 years. he shouldn't need 16 people to figure out what the message is. what will he offer the people for the next four years if he is reelected. all we hear about is january 6th, and concentration camps trump is worse than hitler and this ridiculous -- larry: trump is winning the democracy debate. wapo poll, blows me away. i don't know if anybody reads "the washington post" anymore. >> what is the vision for next four years?

trump talking about getting rid of tip tax. that is brilliant. talking about energy, making trump tax cuts permanent. that is great stuff. what is the vision joe biden offers. >> gas prices came up earlier. larry: in the bar about shop it came up. >> not only good for american people, higher gas price, higher oil prices empower and fund our enemies and enemies of western civilization. larry: that is the next segment. north sullivan. i got to hold you back on that. -- senator sullivan. ben domenech i come back to you, i read some of your note the, your column, a couple liberal cnn people will not stop donald trump getting his message out. he is a pretty crafty guy. he has been through a lot of debates. they won't stop him no mat matter what they may say. trump might ask biden questions, if he doesn't answer them they will be wrong. what do you think about that point of view? >> well i think, i think you're right but i also think that what

he's really going to be doing, this is really what i do expect tomorrow is, i think he will be debating the moderators almost as much as he debate the current president. because i expect them to dwell on all of the different issues that deroy just talked about which don't rank anywhere in close to the top 10 of the issues that the american people care about. gallop under its current tracking says that immigration is now the highest level concern that they have had since they have been asking the question about it in their polling. okay, so immigration questions, economy questions, affordability, inflation, crime, et cetera, those need to be top of the list. instead i think we might get you know, a wallowing kind of cnn-style questioning of the former president that is about january 6th and about what he thinks of adam kinzinger, jack smith stuff, everything else. larry: won't matter. they can try that. it won't matter. >> he has to cut through that. talk about issues people care

about. larry: i think he has to ask biden early in the game, are you in favor of my tax-exempt tips proposal. just kind of smoke him right out. i would do it right up front and personal, whatever you're supposed to do. anyway, ben domenech, thank you very much. deroy murdock, tammy bruce, really appreciate it. coming up here on "kudlow," the bidens continue to sacrifice energy and national security for election year gas prices. that is what they do. tammy bruce blew the whistle on that. alaska senator dan sullivan is an expert on that. i'm kudlow. stick around. (traffic noises) (♪) the road to opportunity. is often the road overlooked.

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all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff. larry: speaking of gas prices, the bidens continue to sacrifice energy and national security for lower energy prices. at that took about it, alaska senator dan sullivan. welcome back. on the front page of "the wall street journal" the bidens will not enforce the sanctions or iran or russia, oil producers. will not go for secondary sanctions on commerce and bank, and by the by, letting china import war from iran and russia. china is financing two wars against the united states by doing this. that is china.

they're not imposing tariffs, et cetera. not a people about it, senator sullivan. this is a sad state of affairs. >> larry, it is so sad. i'm here in beautiful resource-rich alaska. one thing you didn't mention the biden administration is actually sanctioning my state, literally sanctioning my constituents, trying to shut down american energy in alaska. the american energy sector more than they're sanctioning the terrorists, iranians, venezuela, so that's the real remarkable thing, how much they're targeting american energy and they're letting the enemies of our country go free. larry: you read through this story in the journal, this is not the first story. there are many, many stories about this. we've looked at this subject again and again and again. all for cheap gasoline. you have got administrators saying this sort of on background but they are administration people. >> yeah. larry: how can, iran is a mortal

enemy, all right? what is russia doing in ukraine? on the other hand bidens want to give them $100 million in ukraine. on the other hand they're stopping ukraine from hitting russian oil refineries. i don't understand. you have had a lot of foreign policy experience. hello me out here. i do not understand this. >> like so many things incomprehensible by the american people, this is driven by the far left of the democratic party. they are anti-american energy, they are anti-israel. think about this larry, you guys were talking about the presidential debates. i certainly hope the record of the trump administration versus the biden administration comes up on the issues of energy, middle east peace and iran because president trump's policies, which you had a lot to do with, they unleashed american energy, launched a peace initiative with the "abraham accords" in the middle east, re-established

deterrents by killing soleimani, the head terrorist, and instituted the maximum pressure campaign. this crushed iran's economy in terms of gdp and in terms of foreign reserves by the end of the trump administration, iran had about four billion in foreign reserves. biden comes in, as you know, that's not a lot at all. biden comes in to reverse all of this. iranian economy is taking off. they have 75 to $80 billion right now, 3 1/2 years later in foreign reserves and tammy bruce said it perfectly. what are they using the $80 billion for? to fund terrorists, hamas, hezbollah, the houthis. this is failure everywhere. of course gas prices at the pump right now under biden are 60% higher than at the end of the trump administration. larry: electricity prices are substantially higher also. the public, funny the public is

rebelling against jamming electric vehicles down their throats and other policies. come back to this. they're sanctioning alaska. they stopped the, what leasing from the national petroleum reserve, from anwr. >> yes. larry: they have stopped stuff in new mexico. they have stopped stuff, drilling and leasing in the gulf of mexico? i mean really? we should be at 15, 16 million barrels a day right now. we're still stuck at 13. >> 100% and they're sanctioning american citizens more than they're sanctioning the terrorist leaders in iran, in venezuela. you know, larry, i'm getting ready to get on a plane heading up to the north slope of alaska. the indigenous people up there, great, patriotic community, they are very pro-resource development too. so biden has a choice. do i help indigenous people in alaska on the north slope or do i help terrorists in iran and venezuela? he is choosing foreign

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