there's always a bull market somewhere and i promise to find it for you right here at "mad money." i'm jim cramer. see you tomorrow. hey, larry, what do you have for us? all right, jimmy. online with the republican national convention in florida. in a minute i am headed down to the floor to ask house leader eric cantor where is the growth message here? good evening. i'm larry kudlow. this is "the kudlow report" live from the republican national convention in tampa. moments from now paul ryan, the symbol of the new pro growth reformist republican party will accept the nomination for vice president of the united states. cnbc will carry his acceptance speech live. it will be his introduction to the american people. look for these major themes -- shrinking government, pro growth tax reform for individuals and corporations, reforming entitlements in order to save them. look for a growth message from

mr. ryan as the gop positions itself for economic hope and optimism. the theme from the 42-year-old, this is a new reform republican party, mott your father's gop. tonight, house majority leader eric cantor, nikki haily, condoleezza rice and senator marco rubio. no other broadcast has this powerhouse panel assembled in one hour. also this evening the fed sees moderate growth but at 1.7% it's painfully obvious we are not where we should be. investors see this because markets were basically flat again today. also this evening, it's now tropical storm isaac, but it's still pounding the gulf coast. cnbc's brian shactman is live in the middle of it all. good evening. >> good evening, larry. thank you very much. it is still packing quite a punch though it is a tropical storm out of the mississippi

river behind me. it is still closed. the port of new orleans is closed and a huge portion of the goods in this country, in the united states comes up and down the river. they hope to have it open in the port by tomorrow. as you can see the weather is difficult. in terms of tragedy on this one-year anniversary of hurricane katrina there is one reported death compared to 1800. we'll update you on the rescue efforts, plaquemines parish. back to you. >> another busy night at the convention. cnbc's john harwood joins us with details. good evening. >> good evening, larry. i'm on the floor in the middle of the ohio delegation. you can hear the pledge of allegiance said on the floor around me. the excitement is building for speeches tonight. you've got condoleezza rice who tested out her lines today, not only in an interview with you but by checking out the podium this afternoon. paul ryan makes his debut as the

vice presidential running mate on the stage. one thing we know he'll say from the excerpt we have gotten is the president of the administration has made their choices. mitt romney and i have made ours before the math and momentum overwhelm us, we are going to solve this nation's economic problems. he said, we don't have much time. that's his message. we'll see how he does in the 10:00 hour. it will be a big night for the republicans. >> all right. thank you, john harwood. we appreciate that very much. now we welcome back to "the kudlow report" an old friend, majority leader eric cantor from virginia. thank you. we appreciate it. let me begin with this. i want to talk growth with uh you. you are one of the most prominent growth people in the congress. first, i'm not hearing the 4% growth yet in this convention that mitt romney laid out. i'm not hearing the 12 million jobs he laid out and i don't see how the gop can win the election until it persuades people they

have a solution. >> i think you are going to hear that tonight. paul ryan, my friend from the house, will be laying out his vision, introducing himself to america. you know, as i do, that paul has been working long and hard on a growth plan for this economy. mitt romney will officially accept his nomination tomorrow night and you're right, mitt romney consistently throughout this campaign has been the one individual with the pro growth economic policy. >> got to get it out. politics of that repetition. am i wrong about that? >> you're -- >> people will see paul ryan for the first time, addressing 40 million, 50 million. how many hear the 20% marginal tax rate across the board? i'm not hearing it yet in the convex. where is it? >> i think you will hear it beginning tonight, tomorrow night. you're right. this election is about people looking to see who is going to provide more optimism and growth in this economy so folks get

back to work and we see investment go back to town and grow the economy. >> i'm not hearing the corporate tax rate down from 35% which some economists think is the most powerful stimulus of all. you have a lot of business tax cuts. mitt has the 25% tax rate. uh-uh want to hear about it. you have all the small businesses, big businesses. i want to hear it. >> that's the interesting thing. you know how barack obama is always talking about how we are not good for the economy or somehow our solutions don't fit with his vision. the bottom line is too many people are disappointed now at the anemic economy. >> 1.7% gdp today. that's how bad it is. >> this is what the convention is about. this is what our party is about. mitt romney and paul ryan are about saying, hey, we cannot accept that as the new norm. we have to reclaim the mantle of growth. america has to continue to lead the world. we have a prescription to do it. i think you will hear it

tonight. >> i like the idea of getting spending down as a share of gdp from 25% to 20%. that is, in effect, a tax cut. stop robbing the private sector of all the resources. milton friedman used to say spending is the real tax. i'm not hearing it. again, 25% to 20% is vital. let's hear it. >> absolutely. as you correctly point out, the 20% revenues as a percentage of gdp has been the secret to success. anywhere from 18% to 19%. there have been only three years in which we have exceeded 230r7b9. two of which were during world war ii. one was the year 2000 when bush was elected and we put into the statute -- began to put in the rate cuts. >> i want to walk you over to the delegation. >> it's about basically making sure washington set priorities and not keep taking other people's money, determining priorities for them.

rather let them do their biddinging and invest money to see the economy grow. >> one other thing i need to know about. this is bugging wall street, businesses. the fiscal cliff. especially a potential massive tax hike. the congressional budget office says there is a recession out there in the first half of 20 # p 13 p. this country cannot take another recession after what we have been through with the bad recession, the anemic recovery. what's going to happen? what's your forecast of dealing with the fiscal cliff? are we going to have to wait for russian roulette after the election? >> no. but, larry, this all does underscore the import of this election. these are the stakes. do we want an america where individuals, small business owners, working families can dream the big credreams and go about earning success or do we want a government that will suck more out of the private sector and have washington determine

capital. >> can we stop a $450 billion tax hike with higher marginal tax rates on investor, small business owners, plus obamacare has another 4% on successful business owners. can you stop that? >> larry, if we want to grow america again we've got to elect mitt romney and paul ryan. period, the end. >> that's the bottom line. >> that is the bottom line. yes, we can avoid the fiscal cliff. yes, we can put things in motion to grow this economy to cut spending, make sure taxes don't go up on anybody, reduce corporate and marginal rates. we can do it but we have to be sure republicans win this time and that mitt romney and paul ryan are put in the position along with us in congress to effect these changes. >> eric cantor, thank you very much. as always, thank you for coming back on "the kudlow report." >> always a pleasure. >> now to brian shactman in new orleans to give us an update on the difficult weather down there. good evening. what's going on? >> reporter: it's no longer a

hurricane. it is now tropical storm isaac, but it's very powerful. a third of louisiana, at least, is without power this evening. as for new orleans they have most of the city without power. there is damage in the city, but nothing critical. most importantly, the levees and the pumps held up relatively well. the real focus now is plaquemines parish south of new orleans. a levee overtopped today in a sparsely populated area. there's been an effort to rescue dozens of people flooded out of their homes. the rescue effort has gone on all day. there are stories of private citizens trying to rescue neighbors. even with that it appears tragedy on a large scale has been avoided. we turn our attention to the oil and gas, especially for cnbc. when it comes to refineries, a lot of companies say they will wait for the storm to pass. they will assess the damage. it could be five, seven days, a week. offshore, we have been told all platforms and rigs are accounted

for. to get them back up and running they have to get the coast guard to give the all-clear, they have to assess damage and get the personnel in place. there has been one reported death they think is related to this. when you compare it to hurricane katrina seven years ago there was 1800. it is a far different picture but we have a ways to go as you can see from the wind right now. that's it from new orleans. back to you. >> thank you, brian shactman, braving the weather in new orleans. coming up next on "the kudlow report," governor nikki haley, marco rubio, condoleezza rice and, folks, don't forget. free market capitalism is always the best path to prosperity. we are all hoping to hear from paul ryan tonight on that very subject. i'm kudlow. stay with us. [ male announcer ] let's say you need to take care of legal matters.

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here's mitch mcconnell live. please listen. >> -- scoffs at this idea. to him, this kind of thinking is the problem, not the solution. that's why he spent the last four years lowering americans' expectations instead of raising them. that's why he's been missing in action on the greatest challenges of our day. what this administration has in mind for america isn't a renewal. it's a great leveling out. it wants the kind of

government-imposed equality that in a single generation transformed western europe from a place where, for centuries, high achievement and discovery and innovation were celebrated and prized to a place where they have elections about whether people should have to work, where they make promises they can't keep and write checks they can't cash. but that's not who we are. it doesn't even occur to an american that someone else will solve their problems. americans take pride in solving problems for themselves. and if we fail, we get back up and try again. out's what we do. [ cheers and applause ]

>> all right. welcome back to "the kudlow report" live from the to 12 republican national convention. that was mitch mcconnell, the senate republican leader. the addition of paul ryan reeg nieted the party. for tonight's main event the young gun architect takes his message on taxes, spending, endietlements to the convention center stage. here now is howard dean, former democratic national committee chairman and a former presidential candidate. all right, you're stuck with me. michael steel is caught up in traffic. this will be the most fun we have ever had. i'm so far unimpressed with the republican growth message. i thought ann romney was great but i want lower taxes, lower spending, entitlement reform. my question to you, isn't paul ryan the guy to deliver it and put democrats on the defense?

>> i don't think so. paul ryan has one thing going for him. he does not shy away from radical views. that's a plus. people like politicians who stand up for what they believe in. that's a plus for him. the problem is he has radical views. he wants to get rid of medicare and turn it into a voucher program. they talk about cutting taxes for the high-end people but not doing much for middle class people. what they have done in wisconsin is proved his philosophy. i think americans, especially middle class people have a good reason to be afraid of paul ryan. that's why the ticket won't win. >> howard dean, let me mildly correct you on two factual points. the tax cuts mitt romney and ryan are talking about is 20% across the board. in fact, middle income people would have their tax rate down to 15, 16%. secondly, they don't want to get rid of medicare. they're going to leave the existing system alone, but they are going to offer a choice

system and, by the way, that kind of choice system was started in discussions under bill clinton. democrats approved that. why are you misquoting what ryan is talking about? >> what the economists that designed romney's tax plan admitted that the middle class bill for this will be an extra $2,000 a person. the people who looked at the cbo looked at ryan's voucher plan. health care costs in the first year for people under 55 go up $6,000. they will go up to $200,000 per person over a lifetime under ryan's voucher what it does is take the risk away from the federal government and give it to the individuals. out's the same as a defined contribution pension plan. i don't think that is a smart thing to do. they would be smarter to cap medicare expenses by using per patient pay. >> they are going to cap medicaid. medicare -- look.

medicare advantage with, 12, 13 million people has been one of the most successful programs with seniors signing up left and right. because of the choice and competition just like members of congress have costs have actually come down. that's the whole point of the ryan reform. in addition to leaving the standard medicare package alone. again, howard, i love you. but you're misquoting the program. >> i'm not. costs came down because barack obama cut 20% out of the insurance company's take of that which the republicans were giving away. look at the bush record. romney and ryan want to do what bush did. the deficit went through the roof. they did cut taxes but middle class people are suffering. i don't think we want to go back to that. i don't. >> we heard it from senator mitch mcconnell. he said democrats are making promises they can't keep and they are writing checks they can't cash. your party under barack obama has become a tax and spend party. a big government party which is

unpopular. the guy can't get past 45, 46 he polls. i think you're in trouble, howard dean. i think paul ryan is going to illustrate with facts, truth and figures exactly how much trouble y'all are in. >> first of all, mitch mcconnell said "no" to every reform that came through the senate. he's mr. no the entire time. it's irresponsible. his only goal as the senate minority leader is to get rid of barack obama's president e si. that's not the right thing to do for america. that's first. secondly, barack obama has cut taxes for middle class people. and there is no plan to do it at all by the republicans. so, look, these guys -- >> only temporarily. >> these guys are in the pockets of big corporations financing their campaigns that i don't trust at all. >> oh, all right. >> lots of money going into the campaigns, not for ordinary middle class people, larry. you know it as well as i do. >> dr. howard dean, you know as

well as i do the democ their sugar daddies like the republicans do. you know it. i'm out of time. i love this discussion. i would like to continue. i'll tell you this. get ready for paul ryan. he'll be dynamite tonight. >> we both believe in a balanced budget. i think you will get there with obama. you think it's romney and i think you're wrong. >> we'll see. howard dean, thank you very much. >> thanks, larry. >> up next, stocks pocket small gains with investors hoping for help from the fed. more fed stimulus is not going to help. but we'll ask our market pro don luskin of trend macro. we'll be right back. [ male announcer ] it's a golden opportunity

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during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. all right. as you can hear we are live from tampa at the rnc convention. apologies for the rock music behind me. not for the music but that it impairs our hearing a little bit. let's talk markets. revised gdp was higher but is still anemic at 1.7%. the fed's page book is moderate to weak. many say the fed will have more stimulus. another key question. what is the election impact on stocks. here now is don luskin from trend micro. don, let me go through a couple quick questions with you. first of all, do you think the

fed will ease more stimulus and if they do, will it really help the stock market? >> i don't see how it can, larry, at this point. my goodness. they are so deep down the diminishing returns curve the only way qe-3 will help the stock market is instead of buying treasury bonds they buy stocks. it's too late for the fed to rig the election. last fmoc was the opportunity to do it. i recommend everybody sleep through jackson hole. i will. >> what about the eastern european central bank. mario draghi made noises today that they will have a massive stimulus. >> i couldn't call it stimulus. for the first time in history it will do unsterilized qe and it should. all the central banks of the world are stuck. the ecb is the only one who can't do qe. it's playing catch-up. it's a different situation from the fed. they have the power to help europe in a way it doesn't have the power to help the u.s. >> last question.

what is the election impact going to be? here we are in tampa, florida. the rnc convention is behind me. you could hear some of the rock music. you and i could dance toyot it. >> you can. >> but i want to know how to play the stock market with 70 days left before the election. >> if barack obama is re-elected he will think he's got a mandate to take america off the fiscal cliff. taxes are going up. he'll be a lame duck president on a mission. it will be all over for the stock market. if romney wins we put in place fiscal discipline. it's black and white. investors' task now is focusing on whatever it takes to predict the election. if you think obama will win, sell. if you think romney will win, buy. >> we'll leave it there.

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>> announcer: this is a special edition of "the kudlow report" live from the republican national convention in tampa, florida. here now is larry kudlow. >> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, paul ryan will unveil his vision of the new american way of governing. a reform movement within the republican party that cuts entitlement spending not to eliminate it but to save it. we're going to talk about that with two stars, south carolina governor nikki haley and marco rubio. at 42 years old paul ryan was the face of the new young guns in the gop.

he will hammer home the point that this new 2012 republican party is not your father's gop. i'm going to ask another young gun, congressman aaron shock whether chris christie bombed in his keynote address as some say or not. first up, however tonight it's paul ryan's turn. tomorrow the presumptive republican nominee mitt romney will take the stage. introducing him will be senator marco rubio. earlier today the florida republican practiced for his big moment and afterwards he joined me in studio here in tampa. i began by asking marco rubio about the 1.7% gdp growth and the need for 4% economic growth. is the gop ultimately the party of growth or not? here's what h said. please take a listen. >> we have reasserted ourselves. we can do better. there is a lot of attention paid to the debt which is important.

it's more important in the context of growth. we have to explain why does the debt matter. not just because we owe a bunch of money. it scarce and discourages people from making money into the economy. why do you invest money. in the future. >> can i say something about the debt? there is a debt clock now. where is the growth clock we need? >> that's what matters. the number one issue in washington may be the debt but in america it's growth. jobs that aren't being created. opportunities that aren't happening. uh i think we have to do a better job of focusing on that. i think mitt romney is the perfect messenger for the message. he understands how growth happens. >> do you think investors and business -- and i'm thinking particularly small business. do you think that they are gaining back their confidence in the republican party that's an issue. the polls don't really show it. small business, investors. do they look at the gop as their friend, pro business, as growth.

>> it's something we have to work on. basically pointing out we are not the party of croney capitalism. yesterday uh i said, look, there is nothing wrong with big corporations. they will be okay with big government. sometimes they use it to their benefit. the guys and gals who get crushed are small businesses that can't afford to hire the lawyers, accounting firms and lobbyists to change the rules if they don't like it. they get destroyed, crushed by big government. we need to do a better job making the argument. it happens to be true and effective. >> can we flatten tax rates with pro growth tax reform while at the same time cutting spending to grow the economy and lower the deficit and the debt problem? there is a debate about the numbers here. mitt romney has a plan. chris christie has talked about it. in your judgment can the argument be sold? lower taxes, lower spending, lower deficits? >> again, the argument we need to make is when you stabilize it

the economy grows. it generates more revenue. the problem is we had historic revenues in the 2000s. historic increases in spending. even more historic. that's the problem. >> you want to solve employment, the hardships. 25 million people have evaporated from the labor force. growth, growth, growth republicans. >> my job tomorrow is to introduce mitt romney. but in the context of doing that one thing that makes mitt romney is best candidate for president is he understands what made our economy exceptional. that's growth. i will describe why he understands it. >> last one. tough question. the immigration question. >> yeah. >> republicans still have a very austere, almost punitive message. they are way behind in the pools regard i regarding. they don't want a path to citizenship. it's all about border security. what about the 11 million people

who are already here? what about those who were brought here as kids from parents? how can the gop win with a punitive, austere immigration message? >> every time we talk about immigration it can't be in the con text of illegal immigration. we have to start with the fact that a million people a year immigrate to the united states illegally. nobody else comes close. immigration is not just good for america. it's important for the economic future. ask the high tech companies, agriculture. >> we immediate the brainiacs, for sure. >> we shouldn't be deporting nuclear scientists and physicists. we would never train a general at west point and send him to china. we do have an illegal immigration problem. the laws must be enforced. we have a broken immigration system. we have -- >> what's wrong with worker permits, teaching english, american history?

what's wrong at the end of the day with a path to citizenship? >> the problem is unfortunately it rewards illegal immigration and encourages it in the future. let me tell you who it is unfair to. the millions of people waiting to come here legally. i get them in my office every day. they say we have been waiting 7 years. what do i tell them? come illegal? it's cheaper and easier? sends a bad message. we have an issue of young kids brought here at 3, 4 years old. i would like to find a solution that's not amnesty. we have to cosomething that tackles the issue but doesn't do it in a way that encourages or rewards illegal immigration. >> has illegal immigration ever not been a growth factor? >> it's critical for the economy. we need immigration for the country to prosper. it has to be done in a way that's good for america and respects the rule of law. we can get there. >> we'll leave it there. senator, thank you so much. >> thank you.

>> great stuff. let's get to our next special guest. joining us now republican south carolina governor nikki haley. it was a heck of a speech yesterday. >> thank you. we had a blast. >> my parents started their own businesses. president obama, don't tell me e they didn't build it. >> you know, i watched my parents. i grew up doing the books in my parents' home at the age of 13. they started out of the living room of our home. 30 years later it was a multi-million dollar business. i saw them go without. i saw how hard they worked, how much they put into the business. it's offensive for them to tell me that my parents didn't build it. to say it to any business owner who sweats and sacrifices family and time to do it. >> actually, it sounds like -- if memo ry serves -- firefightes offensive for the national labor

relations board to stop job creation in the boeing plant in south carolina and you fought the law and won. >> we did. when president obama chases companies out of this country, he didn't protect the one american company he should have been thanking for creating a thousand jobs in south carolina. for expanding 2000 jobs in washington state. instead he and the national labor relations board sued boeing. we fought, won and now instead of 1,000 employees we have 6,000 nonunion employees in the boeing plant that just produced their first plane and couldn't be more proud. >> in your reagan-like stand, i was working for him. has this attracted more business coming into south carolina? >> every time i get on tv. every time i talk about how we fought the unions and won, another ceo calls and says, we want to come to south carolina. >> you are one of the great republican reform governors, scott walker, mitch daniels, chris christie, et cetera, et

cetera. you're checki inchanging the pa. is it a question here of fiscal prudence alone or is it that your constituents don't trust government and they are unwilling to give government the power and authority that, say, president obama wants to give government. >> i think constituents have been burned by both parties. constituents no longer trust their elected officials and i think elect d officials need to work hard to earn the trust back. you do it when you balance the budget. when you don't spend every dollar. understanding the value of a dollar. understanding that the money is best in the pockets of those people that pay it in or in the small businesses, that's when they will trust us again. we all know if businesses have quarterback flow, profit margins, what do they do? they expnd, hire more people. governments want to spend it, add more government. we don't need stimulus packages, bailouts. >> why doesn't president obama understand this? what you just outlined will really be a huge part of this

election. different philosophies. government philosophy, free enterprise, private company philosophy. why doesn't obama get it? >> you look at governor romney. he believes only in america can you build it. you look at president obama. he thinks without government you can't build it. you've got governor romney who has taken failing companies and made them successful. you look at president obama. he thinks you can reward people with jobs by doing government. he thinks government is the answer to everything. we know government was only intended to secure the rights and freedoms of the people. it wasn't intended to be all things to all people, to give all people the same health care or tax everybody for paying for different jobs. the private sector wins. >> duqo you believe -- and i'm reagan supply sider. >> i love it, yes. >> i want to hear growth. will mitt romney talk growth? he said he wants 4% growth, 12 million new jobs, 20% across the

board tax cut, corporate tax cuts. will he talk growth? will this convention make the case to the unemployed and those living marginally in the class that the new gop is for private growth? >> i think you will hear the new gop is for courage. they are going to make the hard decisions. they will go after entitlement reform, talk about small business, not big corporations. small businesses and how to be successful. they will go after puttinging money back in people's pockets and they will talk about health care the right way. when you have options. when you go after entitlement reform. when you take care of balancing your budget. that's what he's going to talk about. he'll talk about jobs and the economy and how to turn it around. and how he's going to get this company energy independent in eight years. >> which is doable. >> absolutely. >> congratulations on the speech last night. >> thank you very much. it's a pleasure. >> we appreciate you coming on the program.

up next, former secretary of state condoleezza rice on anne romney and a critique of how president obama is handling rising tensions between israel, iran and syria. my special guest up next. stay with us. this country was built by working people. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪

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welcome back to this special edition of "the kudlow report." we are live from the republican national convention in tampa, florida. later this evening, former secretary of state condoleezza rice will speak, but earlier today i sat down with her for a wide-ranging interview. i began by asking for her reaction to anne romney's convention speech last night. listen to what ms. rice had to say. >> i thought she was so powerful and excelling. -- compelling. she said people think we have a story book marriage but story book marriages don't have a chapter on m.s. and breast canc cancer. my mom died of breast cancer. i know what that does to a family and how hard it is. my mom struggled with it for 15 years. survived it a long time.

this is a real woman who had the support of her family. it was just wonderful. >> was the clincher when she said about mitt, her husband, of course the love affair going back 40, 45 years which i love, he won't fail. did that get the job done? >> that got the job done. she knows him better than anyone. it was a personal testimony to americans about what they can expect from this man. i think we can see through anne romney a glimpse of what we had all seen in small glimpses. this is somebody of integrity, toughness and dedication. you know, personal relationships matter. if you are good in your personal relationships and you are good to your family it portends well for a good leader for the country. >> thank you for that. we have covered this story a lot. in your view, do you think

israel will attack iran before the election? there are rumors, 30-day wars. prime minister netanyahu is ready to go. what's your assessment of israel attacking iran? >> i don't know what israel will do and when. when the israelis believe the iranians are likely to go past a certain point where the program is no longer accessible, you can't attack it. israel will do what it immediates to do to secure itself. any democracy would. >> do you think the current administration will back israel? >> think the united states has no choice but to back and ally if the democratically elected government feels threatened in israel. no one can afford a nuclear iran. so when president obama says i have a military option and i will use it i hope he's saying it with enough conviction that

the iranians believe it. that's the only way they will back down. >> you are one of two women accepted into the augusta national golf club. first of all, congratulations. >> thank you. >> i read it with great interest. how much do you play? >> during the summer i play two, three times a week. i live five minutes from the stanford golf course. i will hut balls even if i can't play. once school starts it's once a week. the good thing in northern california is it's a year-round state. >> what's your handicap? >> i am a 14 index. >> whoa. excellent. >> i only started playing in 2005. i didn't play much because of secretary of state. i really started in 2009. >> and you're down to 14? >> yes. for golfers out there, if i can get better from a hundred yards in, it will plummet. >> in practice you have to putt and chip. >> i love to drive the ball and putt. everything in between is an

adventure. >> thanks for joining us. >> thank you. >> condoleezza rice. again, secretary rice has called no higher honor. please check it out. coming up gop veep candidate paul ryan is tonight's keynote speaker. will he do better than chris ny people say the new jersey governor bombed in trying to revitalize the party. i'm not one of them. but david corn of mother jones will face off with congressman aaron shock. did chris christie get it done? that's next on kudlow. drive a car filled with as much advanced technology as the world around it. with the available lexus enform app suite, you can use opentable to make restaurant reservations. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius!

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welcome back to "the kudlow report." your front row seat for the republican national convention. while the gop convenes in tampa, florida, president obama hit the trail to stoke enthusiasm among swing state college crowds. this at a time when polls show mitt romney gaining ground with the youth vote. that's right, romney, t. we have david corn from mother jones and aaron shock. aaron is a close pal of the presumptive vice presidential nominee paul ryan who will take the stage later in the show. all right. i want to ask you, liberals are saying that chris christie bombed last night. it's all over the left of center

blogs. my question is did he bomb or was he on message? aaron. you first. >> there weren't many liberals in the convention center last night. the way the crowd was going wild he clearly didn't bomb. he hit it out of the ballpark. he was right on message. he revved up the crowd. i think he set the stage for paul ryan tonight. >> david, you're not going to agree. >> no. i don't hing it's just liberals. i talked to people who advised the romney camp who won't go on air and say it. i don't think he did what he needed to do. >> what did he need to do? >> he needed to talk about mitt romney and convince americans that mitt romney is the guy to be president. he gave the speech he wrote for his own presidential announcement and added five lines about mitt romney two-thirds of the way into the speech. if you fight with me i will fight for mitt romney. it was all about christie. >> does david have a point? >> no. this is an attempt to distract.

chris christie, there is nobody who's been a bigger fighter for mitt romney. endorsed him early on. he's been all over campaigning for him. to suggest there is a divide between them isn't true. >> the way i saw it, yes, i am a chris christie fan. i'm not sure that is the greatest speech he ever gave. he was on romney's message. he said you can cut taxes, cut spending, balance the budget, grow the economy. you can be a truth teller on entitlements and republicans aren't in favor of teacher unions. they are in favor of teachers. >> right. >> i saw he was right on message. >> i think what people are used to is more off the cuff and bombastic. he doesn't usually use a teleprompter. if you take into the context it was a prepared speech, it was chris christie. still a powerful speech. >> i think he advanced the republican message. but i don't think he tied it to

mitt romney. he tied it to chris christie. over and over again, this is what i have done in jersey. pea, he didn't mention 9.8 unemployment in new jersey but he talked about what he did there and the stuff about romney and this is supposed to be about mitt romney, was minuscule. there are a lot of ways to sell mitt romney. i know you like him but the reputation isn't as a teller of hard truths. his reputation is a guy who can fix it and get things done. he hasn't told the truth on the tax plan. >> this is romney and ryan. romney and ryan will be truth-tellers about our sad fiscal position. >> about the tax plan hoe? >> and bankruptcy. i think they are truth-tellers. >> absolutely. >> we'll see. >> we haven't -- >> ryan starts tonight. mitt will be on tomorrow. david says they are not truth-tellers. how do you react? >> we are the only ones laying it out in black and white. we have a cost curve to put us toward balance. paul ryan is not only a

truth-teller, but he has other people to follow him. his budget passed the house with more budgets that passed under clinton or bush in the past 15 years. that's leadership. >> i'm waiting to see what programs he's going to cut. he hasn't told the truth on that. i'm waiting to see how romney will make up tax revenues. >> spending. >> okay. where? he won't tell us what he's going to cut. >> this is not a budget exercise. it's a presidential campaign. >> you're not goi to tell people about medicaid, the fbi -- >> you guys won't tell us how much you're going to raise spending. >> why don't we give -- >> second american century. that was a great line. >> amen. that's why young people ought to vote for him. >> i appreciate it. you're both great to come on "the kudlow report." tomorrow, another powerhouse line-up here. senator kelly ayotte, conservative columnist ann

coulter, former speaker of the house newt gingrich, senator mitch mcconnell. i will be back at 10:00 p.m. with special coverage of the republican national convention. we'll hear from veep candidate paul ryan and former secretary of state condoleezza rice. we'll throw in some hurricane coverage tonight at 10:00 eastern. it's a full house. please stay with us. i'll see you tomorrow evening. i don't spend money on gasoline. i don't have to use gas. i am probably going to the gas station about once a month. drive around town all the time doing errands and never ever have to fill up gas in the city. i very rarely put gas in my chevy volt. last time i was at a gas station was about...i would say... two months ago. the last time i went to the gas station

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