greated idea, thank you. don't forget to follow us on twitter @barronsonline. be safe, be healthy, wear your t it. have a good weekend. ♪♪ ♪♪ >> hello, everyone. i am larry kudlow. the day after president biden's first national address on covid, markets were mixed today, the dow up big, more than 200 points. third straight record close. the s&p rose slightly but the text laden nasdaq fell. we'll talk about that later in the program. i got a bunch to say about president biden's covid speech last evening but first, this into what he said this afternoon in the rose garden.

>> this puts working people in this nation first. it's not hyperbole, it's a fact clock back for too long, they are not bad folks, significant number shouldn't be getting the tax breaks they had. but if with the richest americans first who benefited the most. the request, we've all heard it and especially the last 15 years, the theory was, cut taxes and those at the top and the benefits they get will trickle down to everyone. you saw what trickle down, we've known it for a long time, this is the first time we've been able to since the johnson johnson administration and maybe even before, to chase the paradigm. larry: the greatest respect to our president and i mean that, i understand what he's saying. he has backs and policies wrong. i didn't understand the last 15 years referenced. eight of those years was obama biden.

of course, as democrat he tries to discredit tax cuts by using derogatory trickle down label blah blah blah. he's got this mumbo-jumbo about 15 years and changing the paradigm back to lbj. lbj was john f. kennedy's vice president. jfk launched the first postwar supply-side across the board tax cuts for individuals, businesses, capitol gains, everything. now lbj worked hard to get that tax cut past in the senate after jfk's tragic assassination so johnson was pushing this. i wrote a book on this. not only praising democrat jfk's tax cuts that lowered marginal tax rates from 91% to 70% but also praise republican ronald

reagan for over 20 years later repeated the supply tax cuts and dropped from 70% to 28%. jfk's tax cuts was a huge boom in the 60s, it was fabulous. reagan also had a huge boom in the 80s. both of them, over 4% economic growth a year without inflation and they both lasted seven or eight years. really, it wasn't until richard nixon destroyed the value of the dollar with the great inflation of the 1970s, that was a different issue. as a footnote, john f. kennedy was for a strong dollar backed by gold. i don't want to obsess about this but i believe in economic history and my book is called jfk in the reagan revolution and you can get that book with one click on amazon, just saying but i don't understand president biden's reference.

under both jfk and reagan tax cuts, only did the economy prosper mightily with inflation but the rich paid vastly more taxes than ever before, that's what nobody seems to get not only because of booming investments and employment but successful learners didn't need tax avoidance at the lower marginal tax rates. top 1% tax revenues moved from less than 20% to over 40% during this time. again, at the lower tax rate. the risk paid much more and revenues came in and sit and how to avoid taxes, it was the latter curve that work. lower tax rates generated economic boom and paid for themselves, more people entered the economy and fewer people avoided tax payments, simple. one thing that troubles me about what president biden said today

in the rose garden and again, lord knows this is just policies, nothing personal but his reference to lbj, that reminds me, i've been saying this the last several shows, this $1.9 trillion so-called covert relief bill is the largest expansion of the u.s. welfare state going all the way back 55 years to lbj's great society. many people believe that, a lot of harm to the economy and the very people who were targeted, they came out worse and more dependent. i want to get to today, the leadership of president biden, that's an issue more to last night. this afternoon in the rose garden leading from behind. leading from behind. last night prime time address president biden seemed desperately to try to get in front of things that already happened, you know what i mean? not really the best way to do

it. the covid bill itself breaks the bipartisan legacy of bill clinton and gingrich. again, over informed welfare, thereby lowering poverty and increasing jobs, not be lbj model but the clinton gingrich model. president biden made this point last evening, we can have unity, unity doesn't just mean about politicians and goats in washington, it's a very odd point because yes, unity does. president biden calls for unity to wear masks and distance. i don't necessarily object to that but he promised unity and bipartisanship in his first big piece of legislation, $2 trillion plus expansion of the welfare state, he did it in a partisan way using reconciliation, oaxacan leaders were not engaged or involved at all, this was a democratic sweep. i don't give much points on the

unity argument. finally, i want to make a quick point on business about president trump's 2017 tax cuts which the same thing as kennedy and ronald reagan. all right, trump tax cuts were lower tax rates across the board. number two, his tax cuts, particularly at large, four large and small businesses, the biggest beneficiaries were not the rich. they were blue-collar, middle class and lower middle class. whether you are talking about rising family incomes arising real wages, the lower middle class and no class had much bigger gains than the top 1%.

commonly people don't seem to get this and look at the data. poverty fell, inequality fell and unemployment hit rock bottom, 50 year lows for african-americans, his hat in a commission from asian americans women and blue colors. fifty year lows from of the biggest gains in wages and income and family wealth came to those who needed it the most, middle and lower. they outstripped, by far, gains for the top 1% or 5%. those are facts. those are facts. those facts come from the census bureau and federal reserve, consumer finance survey. i'm not making this up. i'm happy to share these facts with anybody. i laid out at my speech a few weeks ago. i'm happy to share with anybody

but those are the facts. you were not tax cuts for the rich, they were for the middle and lower middle which is, by the way, exactly what happened under jfk and under ronald reagan. the moral of the story is, you want the wealthy to pay more? lower tax rates but when you lower tax rates across the board and include business tax rates in there, those who need it the most got the most, it was not the rich, it was the middle income folks. sorry to take a bit but i wanted to square that. it's not personal but i think mr. biden misspoke. now, do we have a guest here? steve miller? all right. about president biden's address, i want to get, all right. i want to get steve miller in who was president trump's top speechwriter, or in charge of the speechwriting. he's a very smart guy, he's been

on the show a bunch. there he is. steve, i want to ask you, go right into it. as a speechwriter and as a good one in my humble opinion, what did you think of mr. biden's speech? with her highs and lows? how did you read that? >> i thought it was a huge missed opportunity for joe biden. if president biden wanted to unify the country, he could have done something very simple. he could have said thank you to president trump for leaving me with a bevy of safe and effective vaccines we can used to inoculate country and achieve vaccine induced herd immunity can get life back to normal. he tiptoed around the issue for 20 minutes treating the vaccines as though they had come down is like a mystical forced from heaven nobody could explain. it would have been so gracious and unifying and so honest, just

to say when we came into office, we had a vaccine, thanks to president trump, political difference aside, i want to thank him for giving out this vaccine to we can get life back to normal. it was a huge missed opportunity for biting. larry: by the way, i call that leading from behind. i thought the whole speech was fraught with this idea of leading from behind but hang on, we've got some sound i think from biden in one of biden's staff. let's try to play that. do we have sound? >> i want to say with the administration, the former president for putting up this addition, we been able to move it forward. >> excellent recommendation as a speechwriter but the president has spoken to in the past. he's a plot of the work of medical experts and scientists prior administration, americans are looking for facts. they are looking for details, specifics. i don't think there are too much about applause from six months ago when the president already delivered that publicly.

>> really, i think we have another from one of biden's healthcare advisors. hang on, you've got to hear this. it's a different idea altogether. >> i think we are grateful for the work that came before us and we are doing the best we can to continue and accelerate it. i tip my hat to the trump administration, made sure we got in record time, a vaccine up and out. that's a great thing and something we should all . larry: there you have it, that's a better idea. that's what you had in mind but alas, it didn't happen. now how but again, putting your speech writers hat on but also policies hat on, was it optimism? pessimism? was it to downbeat, upbeat? >> it was so gloomy. he did it inspire at all. here's what's going on for you and your audience, they are

deliberately setting extraordinarily low, unambitious, uninspiring goals on the theory that you can exceed incredibly abysmal objectives. there's a section of the speech that i truly believe could be one of the least inspiring calls to action in human history and this was that if we all sacrifice, if we all do our part, if we stay close, supper and struggle and sacrifice, if we hurt, then maybe, just maybe, larry, on july 4, you can have dinner with your own family in your own backyard. i couldn't believe it. larry: without obsessing too much on it, was there a little jimmy carter speech there? >> exactly. that's what it was. john f. kennedy said let's put a man on the moon.

donald trump said let's put a man on mars. joe biden says eat barbecue ribs with your own relatives and loved ones on july 4. larry, people already are having dinner with their families. people have been doing that throughout the pandemic with their own family members. larry: that's why i say a lot of this was leading from behind. one other thing that troubles me, he says if we don't do all these things he wants us to do, despite the vaccines, we are going to go back on national lockdown. this country will not tolerate another national lockdown. all states would be in full approval against back and really most of the state are opening up very rapidly anyway but the lockdown point stuck on me. >> is threatening language. biden speechwriters, i don't know how much of this joe biden is personally doing, the speechwriters thought would be an effective cudgel to threaten people with an or else. that's not how you inspire people or uplift people. that's not the american

rhetorical tradition. people respond to positive energy, optimism, paint a picture of what can be achieved in the best of circumstances. threatening people with punitive measures and saying if you don't do it this way, i'll be forced to shut everything down, it's mean spirited and cruel when you think about lockdowns, what it does to people. on that, the speechwriters fundamentally is calculated where the american people are. larry: i'm sure they are good folks. will you call them and lend a hand? >> i would be happy to help because like everyone else in this country, i want us to get back to normal life but the way you do that is by continuing what president trump did, ramping up the vaccine way faster than biden is promising and let people live their lives again. larry: i like the message of our great guest, doctor carey, three points and i'll close on this. get the vaccine. two, wait a month and three,

live normally. just like that. good work. >> amen. amen. that's what biden should have said last night. >> there's always a next time. thank you so much. appreciate it. next, joe biden's getting in the habit of bailing out bad ideas. the stimulus package doesn't give money just to blue states to local economies down from it plans to offset damages caused by their socialist initiatives. former epa administrator andrew wheeler joins me after the break. break. stay with us

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they've apparently inserted a provision in the stimulus bill to create a $2 billion fund for communities in which there's been a negative revenue impact due to implementation of federal policy. in other words, job killing. let's chew on that one. joining us now, former epa administrator, andrew wheeler. andrew, i want your take on this whole climate infrastructure but tell me a little bit about this $2 billion fund, is that unusual? does not acknowledge that their policies are going to knock out jobs? >> it is unusual it is my understanding it was put in in part because of concerns raised by the two democratic senators from new mexico about the current moratorium on the fact that so many states rely upon the revenue for the state and local governments, schools, fossil fuel extraction industry is my understanding in part in reaction to their concerns the current moratorium is hurting a number of states particularly

out west. larry: we seen signs of that, they took out the keystone pipeline which caused cost jobs. the dakota access line cost jobs. as more coming and i want to talk about that with you. you know this as well as anybody as epa administrator and even prior to the on the hill, there's a green new deal coming from a president biden said he was against it in m the campaigl but looks like he's for it. you may have heard senator schumer say he called a climate infrastructure bill in their 20 use reconciliation which probably means no bipartisanship, they'll do 51 -- 50 if they have to. andrew, from what you know abou- this climate infrastructure bill and theirru version of the green new deal, what's coming down the pike? >> i hope it isn't a partisan bill. infrastructure historically has always been a bipartisan issue. it doesn't cut across pelicans

or democrats, it's more big states, small states, rural and inner-city. a bipartisan, nonpartisan actually issue for years. i worked on those first doctor bills when i worked as a staffer in the u.s. senate so there was an infrastructure bipartisan bill last year in the senate so there's a certain interest on both parties to do a bipartisan infrastructure bill and that needed and it's important to have an infrastructure bill going forward but if they go on a policy partisan ends, it takes away the good projects and works that could be accomplished in a0 states. larry: andrew, my concern here is is is not a typical infrastructure bill. this is not just improving land transportation or mass transit and stuff like that. they are going to add in, i think, you tell me, tremendous t attack on all kinds of carbon fuels, gas, oil and coal, time

limits. they've got epa involved in all kinds of things, know this by 2030, there's one that comes up in 2025, 2030, 2035 and ultimately, net carbon neutral by 2050. it sounds like they are going to shut down. sounds like they are going to shut down fossil fuels. your thoughts? >> i hope that's not the case and i think we should go back and say what happened in 2009 a lot of the green infrastructure that took place about that bailout bill at the time, overia third of the clean energy companies that received money and that bill went bankrupt within a year so there are lessons learned but if we were to go down and banning all fossil fuels and natural gas, it's not going to stop demand here in the u.s. for those products. it ends up shipping the jobs to other countries like china but also in the shipping pollution

to other countries because those countries do not have the same environmental standards we have here. when we drill for natural gas in the u.s., we drove for in the most environmentally conscious manner possible. nobody else does as cleanly as the u.s. does.. experts drop. larry: i thought natural gas was part of the solution, not the problem. just want to ask you, why not in all of the above policy? why not work with technology and innovation? even you might have already help from the federal government to make all these carbons less carbon, less emissions, we've talked about clean coal through the years, carbon capture and sequester, by the way, nuclear, is very important but they don't seem to like nuclear. >> whenever the federal government makes decisions on what the energy use should be,

the federal government has been gone. go back to the 70s, decisions made than about reprocessing nuclear fuel to not using natural gas at that time, other decisions throughout the last 40, 50 years, the federal government has been wrong so we need to let the private sector, the federal government has a role in encouraging research like you mentioned, we need a lot more research on the battery storage. solar and wind are not going to be able to pick up slack until we solve the battery storage problem when we can conserve the energy when wind blows and the sun is shining. it's important to have the investment. ilarry: just real quick, i just have a few questions, is a carbon tax coming? >> i don't think so. there's certainly some republicans who started talking about, some of the democrats but what i can tell, climate activists have moved past that. that was debated ten to 20 years

ago and now it's more on whether or not you have also fuels or no fossil fuels. carbond end up having a tax but it would come with regulations, it wouldn't just be a carbon tax. larry: nobody knows it better, did i see nancy pelosi just came out with a statement that -- so she wants, she's saying the work of the republicans for a big, bold transformational infrastructure project so i hope she's right. i like that, there's some goodwill there but that's what they said about the covid stimulus bill at the beginning and they didn't go there so we will see. i don't want to measure against but let's see. so far track record is notot great. anyway, let moveco on to tech titans going after each other today. microsoft blasting google and dominating the digital ad market

and preventing news organizations for making money on their own product. ♪♪ >> when companies start in countries and saying if their legislators pass laws they don't like, they will pull up and leave, then something seems a little out of whack. little out of whack. larry:

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big tech on the news industry, to tech giants today, microsoft and google against each other. much more, he returned to hillary on capitol hill. good evening. >> it's not often you see a public squabble between two of the largest companies in the world that resemble something that would be seen on the real housewives franchise but today bad blood between thoseec two th titans, microsoft and google on

display today. microsoft, brad smith came to capitol hill with digs against their competitor their dominance in the digital ad space is bad for news organizations trying to make a profit of their own products while google scoops up the big bucks. was his written testimony, this is not about whether google active unlawfully but when it accompanies success. side effects adversely impact the market in our societies, the problem should not be ignored in this typically requires government action but google hit back this morning at microsoft calling smith's testimony inaccurate in a way to distract from microsoft own pr disasters. google saying they are now making self-serving claims and are willing to break the way the open web works in an effort to undercut arrival. it's no coincidence microsoft you found interest in attacking us comes on the hills of the solar wind attack but larry, it's notable all this plays out

in front of one of the most important committees on capitol hill to these big companies, subcommittee on antitrust and house judiciary committee already looking at how these companies use the dominant and their respective industries to crush the competition. larry: hillary, look, i know brad smith, he's a very smart guy, president, not ceo of microsoft but ama very smart gu. did he have any concrete steps must say like google should do this or your committee should do this? was there any specific things? >> yes, he wants the federal government to pass laws that would require google to share ad revenue news organizations so when the organizations use google exchange to connect with customers who want to place ads on their sites, they are getting a larger piece of the pie because we heard from a lot of news organizations that

complained the money they had to put in to create the content does not justify the money they get back from the ad revenue because they are sharing it witr a lot of different people. larry: all right, ih got it. i don't think there's much chance they are going to share revenue but who knows? thank you very much. great stuff. let's talk about the market but i want to talk about this, too. we got to market titans. managing director of pjm institutional services, david, founder and managing partner of the boston group. not experts on this which makes it even more fun, jim, i want to ask you how your restaurants are doing in chicago but you think google should parcel out ad revenue to these other companies involved? you think microsoft has a case based on what you heard or no? >> based on what i heard, some of the profits to you and to me, it seems nonsense unless i have

a concrete case. of course i want everyry successful restaurant to give me money as well. i hear something, it just sounds like wind to me. larry: socialism in a sense. my friend, brad smith from microsoft. a crackerjack trader on the exchanges but also owns a string of restaurants. dave, what you think about this will microsoft? >> my best guess is microsoft is just trolling based on what their competitors did to them in 1999 because this is like the exact same thing microsoft fought against 20 years ago. the hypocrisy is stunning. larry: remember they were going to break up microsoft because they were a monopoly? in the whole game completely -- and microsoft, that changes business model. it's nice to see a little brook corporate socialism. i kind of enjoyed it. a little planning from the boys.

charles, and jim back to you on the market. the dow is doing very well. the s&p finished above and is doing very well, they are breaking records but the nasdaq is not. blaming this on rising longer-term interest rates, can you walk us through this? why would one or two indexes you great but the nasdaq won't do great? they are dealing with the same interest rates. >> yes, that's one part of the problem. a lot of these tech companies supposedly are more sensitive but i don't know if it's true or not, doesn't matter. it matters what the market thinks. there's another element that the entire run up a yeartnt ago mara huge amount that went into the work from home things, balance sheet on the tech companies

moving into a digital world. we're moving out of that into an analog world now, that's what people want to do so when i see tech underperforming like it did today, i think it's not a bad thing at all, it's probably good. when i look at the s&p and if the s&p was down half a% on the day where rates move fairly sharply, i would have considered that a victory. the s&p had again was a significant victory. larry: would you buy tech? >> i wouldn't by big tech, new tech, cool tech, i would buy old tech. cisco and ibm, intel, those companies left behind years ago that are more value companies than these kind of high multiple growth companies. i think jim is right and what he said but let me suggest a simpler explanation. the reason why they have trouble right now and the dow isn't, the dow trades 18 to 19 times and the nasdaq was trading about 35 times. it's a multiple problem the nasdaq got overstretched in

evaluation. in some cases significantly so and hasn't fully corrected yet. valuation still matters. larry: a lot of the newbie techie companies doing so well our long-term plays, wrong long-term growth place so they might be more sensitive tote long-term interest rates is a discounting factor. you like the markets on your end? >> i do. as long as ten year rates don't shoot above 2% quickly, i think it is fine. people talk about how the stock market can rise together and they almost think it's a good thing for each other. it's not. if both are rising on optimism and they can live with each other which i think is a big difference like being friends. i'm fine with the market right now, i think there are a lot of things coming together, 12 states have opened up already, i think there will f be on otherhe states and i think it's an explosive spring. if anyone is not optimistic is

miss reading this. you know i'm not always this optimistic, i'm not that kind of guy. i'm pretty optimistic about that. larry: president biden is assimilating your restaurants and everyone is going to open.ti you like the market between now on your end? yes, no? >> i like the dividend growers in the market, larry. larry: all right, that's good. i haven't heard that in a while. you guys are both fabulous, gooa luck on the restaurant and dividends. all right, democratic run blue states are playing politics with lockdowns. what a surprise. more on that with former assist tasha, did you know geico could save you hundreds on car insurance and a whole lot more? hmm. so what are you waiting for? hip hop group tag team to help you plan dessert? ♪ french vanilla! rocky road! ♪ ♪ chocolate, peanut butter, cookie dough! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! ♪ ♪ scoop! there it is! scoop! ♪ ♪ shaka-laka! shaka-laka! ♪

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♪ no not just for some but for everyone.♪ president biden setting a july 4 state to possibly have small group group gatherings outdoors or indoors among family provided you are vaccinated. more covert restrictions however are being lifted across the country that's why i fear

president biden is leading from behind. interestingly blue say to the governors are under fire, i won't mention names, moving along at a much faster pace. new york city's indoor dining capacities to opening up to 50% and in california, theme parks and outdoor stadiums will reopen april 1. so, let's get this around. joining us now, monica crowley, former assistant treasury secretary for public affairs. welcome, wonderful to see you. look, you are a very insightful analyst of the political story. you think it is s a coincidences governor newsom and cuomo come under more and more politicalir fire that they start opening up faster and faster? is this just a coincidence? >> great to be with you, larry. it's painfully obvious for quite a while now the democratic run

state, which continued to impose draconian lockdowns and restrictions, not doing it out of embrace of relevant sciencea and data but because they have ever greater power and control over their citizens. those states were and continue to be a drag on the national overall economic recovery. what you're seeing now is the governors formal and newsom is even more evidence of that because as they are under ever more fire for a variety of reasons, they are opening their states because they believe or at least hope, that will relieve political pressure on themselves. i think it is a totally transparent move is unlikely to save their political distance but will have happy consequence

of improving those states economic conditions and overall national economic recovery. larry: that's true. however they have to and lockdowns, let them and the lockdowns. politics or this or that, fine. i'm okay with it. monica, i want to switch gears, your great service in the treasury department, a while back a few weeks ago, treasury secretary janet yellen talked about and energiess are or climates are in the treasury department. he resided in that department for quite some time. did you have a treasury star during the mission administration? what you think about this?de >> president trump and secretary mnuchin, we did not have a climate star but sec. mnuchin is no longer treasury secretary and this is secretary yellen's department now so she's perfectly entitled to create this position. i do think however it's not entirely clear what climate climate star would do.ry the department mission is to

promote conditions of economic growth and both at home and around the world, it doesn't quite square with that so it remains to be seen whether climate czar will accomplish or do that will not detract from the overall treasury apartment commission. larry: that was a good sidestepping response and ies appreciate your clumsy here. actually, we'll come on another time, we are short of time because of biden's speech and so forth but they are going to have environment and social goals, banking and financial regulations and paperwork, and maybe the treasury will pilot here a carbon tax, i think it's going to be a busy position but that's another show. come back soon. up next, the biden and ministration placed down the role of the new alliance combating the threat of china.

jim joins us with much more jim joins us with much more after these quick messages. jim joins us with much more after these quick messages. jim joins us with much more after these quick messages. jim joins us with much more after these quick messages. ♪ ♪ ♪ ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. when i was diagnosed with dupuytren's contracture, i waited to get treated. thought surgery was my only option. but then i found out about nonsurgical treatments. it was a total game changer. learn more about the condition at factsonhand.com

fourth leaders discussed the andlenge posed by china made clear that none of them have any illusions about china

but today was not fundamentally about china. much of the focus was on pressing global crises including the climate crisis and covid-19. larry: he's talking about virtual call quad countries, u.s. allies, japan, australia, india. i guess he's saying they didn't talk about the china threat, they talkedd about global warming. i don't buy it for a minute. let's bring an donald who knows omabout that. retired four-star general foxbusiness strategic analyst and medal of freedom recipient. in general, welcome. they had this phone call with the quad countries, i would say to you, my posture is the formulation of the quad is precisely to counter the chinese threat. yourou thoughts? >> absolutely. the quad was meaning

quadrilateral, for countries involved, all democracies, like-minded countries, quite a powerful organizations given only four countries, three of the four largest economies in the world are in that alliance, exclusion of course being china, president bush formed this in 2007, largely dealing with security reasons and because there was rising china imposing their will on the pacific region. india has always been neutral in this alliance, wants to keep it informal, doesn't want to have a native like alliance but nonetheless six significantll cooperation. larry: president trump gave new life to this quad alliance because the obama biden administration largely let it die as they were, in most cases,

up until the end of the administration appeasing china for most of those eight years. president trump revised it is secretary pompeo was the guy doing it and i think president trump made a bold move when he went to india, he capitalized on it and india may have given president trump the warmest welcome any president visiting foreign country ever received but india is full on board now and china certainly is very disturbing to them because they are not only threatening them in skirmishes on the border but they are all over the indian ocean with the navy and yes, this is a very important alliance anchor for a much larger one that could come. i'm delightedge that president biden took the time to have this conference with these leaders before his foreign policy. larry: i am with you but t general, i don't know why they are trying to downplay the idea

that this group of our allies didn't talk about chinese threats. of course they did. they are not hanging out to talk about global warming. by the way, india is notby supposed to anyway. that is a plus. this is a thorn in china's side, is it not? we like that. >> yes. it's a broad based alliance. while there is a lot of military cooperation and given the fact that president trump revised it, there's a lot of exercises. the economic power here is very significant and collectively pushing back on china's predatory economic behavior. listen, taiwan was discussed here, not just china's economic concussion but south china sea was also discussed, absolutely top agenda. if it wasn't the first item, it was the item most discussed,

china's behavior in the region. larry: one other thing, general, i had some experience on the national security council with all this, do you have the five eyes, intelligence group? right? if i get this right, australia, new zealand, not india, japan is part of the five i eyes, i believe. canada and united kingdom and the u.s. china doesn't like that either. >> japan is not part of it but i don't believe. yes, these alliances are very important to us. i agree with the biden administration but it was a mantra of the trump administration the listen, he's not going to get any credit for it, the united states has work with our allies in the region to pushan back on china. most important, to strengthen their spine that the america has their back. so far, the biden administration moves in that same direction and

we should be encouraged. larry: i agree with you former national security advisor o'brien, former secretary, they agree with you. this is good. if president biden does good things, he should be praised. general, let me switch gears the last couple minutes here. the story of today, china and communist government is complaining, they are sort of whining that wall way, the big big one company, telecom competitor we booted out of the u.s. and most allies, wall way is not being treated h fairly ad somehow they want this to change. what is your thinking on this? china's complaining, really? >> you or the administration did work here dealing with wall way. internally and the u.s. in making certain we have a 5g network here of our own

independent department to get on board, secretary pompeo traveling around the world pointing out as many countries as he possibly could, what the implications are of the 5g network in terms of gathering personal data and intelligence gathering as well. there's been some significant pushback on the chinese associated with it even with this new administration moving in that direction and that was a question. we'll see if that continues but good signs here. the fact that china has run into international edmund, over the pandemic and horrible behavior and also over huawei is very good news. larry: thank you, general. i'm up against the heart break. thank you for your time. join us again monday. thanks for kudlow. ♪♪

♪♪ elizabeth: we've got elizabeth: we have breaking his democrat c senators chuck schumr and kirsten gillibrand of new york say near governor cuomo has to resign, a wave of congressman saying he should resign but governor cuomo is defiant trying to blame cancel culture now we have 16 congressmen and senators, jerry nadler 139 state lawmakers outut of new york sayg he should step down buddies blaming cancel culture over his own sexual assault and harassment controversies in the covid coverup of nursinged home

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