ends 9:00 p.m. eastern saturday night. go to all-star panel event.com. click on the silent auction button. register that way, you cobid on a dinner with me, you lucky people. let's raise some money what is a wonderful cause. david asman in for neil cavuto. david are you bidding? david: i sure will. i'm david asman in for neil cavuto on "coast to coast." gold hitting $1900 an ounce since june. that of course is a risk play. russia and ukraine on the brink of war. president biden saying a short time ago the threat of a russian invasion is quote, very high. we'll bring you a live report from the front lines in a

moment. and the chaos is not limited to eastern europe. north of our own border here in the u.s., the canadian truckers are bracing for a police crack down. we'll have a live report from there as well. plus here at home, on this side of the border, the biden administration is pushing for another $30 billion in pandemic spending and going back to the bbb plan, pushing a plan that the senate rejected. one and only larry kudlow joining me to assess what exactly is going on. but first you crain says russian-backed forces fired shells into ukrainian village hitting a kindergarten. you're looking at video of that. two teachers are reportedly injured. thankfully none of the students were. fox news correspond trey yingst in kyiv, ukraine with the very latest. trey. reporter: david, concerning escalation overnight in eastern ukraine as more than 40

cease-fire violations were reported. i spoke with an army officer in the ukrainian military who indicated his forces are now responding and the back and forth exchange of fire does continue at this hour. some of the images you see here are from that kindergarten in eastern ukraine that was hit with an artillery shell this morning. event was confirmed by ukraine's foreign minister that said heavy weapons were used on the village. analysts fear the escalation could act as pretext for russia to launch a larger invasion into ukraine. satellite images released yesterday showing additional russian troops arriving at the ukrainian border. they detail a bridge constructed miles from ukraine. the u.s. says 7,000 russian troops arised in the last few days. the spokesman said without evidence that ukraine's army taken provocative actions only intensified in the last day, remember there is a parallel information war ongoing. many statements we get from the

russian government are meant to simply confuse and make people unsure of the situation on the ground. david? david: trey, thank you very much. while the world is waiting to see if russia will invade ukraine, president biden is on the road again trying to revive that bbb bill which all republicans and at least two democrats have already rejected. he is also touting the success in his mind of the infrastructure by which he passed earlier last year. edward lawrence is live at the white house with more on all of this. edward. reporter: he is in ohio right now. but you know these moves we've seen in the energy market, many folks blame president joe biden's policies for the uptick in energy prices here. that plays right into russian president vladmir putin's hands. today president biden says they see the russia moving more troops into, not out of the region. listen. president biden: every indication we have they're prepared to go into ukraine,

attack ukraine. my sense it will happen within the next several days. i have no plans to -- reporter: so republicans say from day one president joe biden instituted policies that restricted u.s. energy and made it more expensive to operate for oil and natural gas. he then turned around and lifted sanctions on the nord stream 2 pipeline giving the russians the upper hand. look at price of oil today. more than $91 a barrel, although it is down, still $91 a barrel. russia is the third largest exporter of oil around the globe including to the u.s. that means russia is making a lot more money, is poised to have europe even more reliant on them for natural gas. now some democratic senators are saying sanctions need to be in place right now. >> we need to begin crippling sanctions right away because there is still a chance that we can deter putin from invading. reporter: russia's finance

minister says that they will rely on reserves of gold, foreign exchange reserves and budget surpluses plus low debt to weather sanctions that could be imposed. senator marco rubio says a potential russian invasion will have significant impact on oil and gas prices in the u.s. t was president biden that set the stage to ultimately have this happen. listen. >> energy prices are up which is more profit for him. europe is deeply dependent. he thinks there is weakness in the white house. he knows macron is distracted by his own election and so forth. he thinks this is the ideal time, last opportunity to take care of his ukraine problem. reporter: experts are saying this could be a legacy move for putin, he could be the man to reunite the old soviet union. we'll see. david: thank you, edward, thank you very much stocks sinking on russia ukraine tensions. let's get the lead from strategist luke lloyd. luke, first of all i was

interested to hearing russian leader putin is buying up as much gold as he can in anticipation of troubles. a lot of people are buying gold. it hit $1900, a tick below $1900 right now, 1899. that shows a very severe lack of confidence in stocks and a rush to safety, no? >> it is all about power and control, david. this happened so many times in history before. it is all about oil with ukraine. it is also now about gold. i will not worry until they do start invading. countries right now think they can take advantage of the united states because biden is in office this is a way for russia to gain more control and power. gaining more power around control over oim and commodities. more power you have, more pricing power you have the more absolute power you have. more of a absolute power grab right now. david: why is oil down with gold up so much and as you mentioned the concerns about oil supplies?

>> because it is already run up, david. over the past couple weeks these concerns have been here. one second they're invading. next is being they aren't. a lot of people are not trusting the intelligence of the united states right now and what they have been saying. they were supposed to invade yesterday. back i think it was like on saturday or sunday, they said russia would invade on wednesday. they haven't necessarily yet. just about misinformation and miscommunication i think. the market trades on the most recent information and right now i don't think that a lot of people have faith russia will go forward with ukraine as intensely as they say they are. david: luke, is it conceivable that investors, this may be one of the reasons oil is down, are worried about growth, having growth concerns, economic growth concerns, not only because of what is happening over in europe but because of what is happening here? >> it is definitely part of the concern. it is also part of the concern is, is that inflation is running hot and that the fed is late to the game but they are absolutely

late to the game and everybody knows it. americans pocketbooks are getting emptied, and the fed has done nothing yet. combine the reopening of the economy with biden as president, democrats in congress spend trillions of dollars like it is nothing, it is pretty obvious inflation issues were on the rise. literally economics 101. i also think jerome powell was scared to raise rates fear not getting reappointed by biden. the fed will raise rates too much, hinder the economy because she should have raised rates a year ago to help the middle class. we can't go back in time. the motto we have to live now, better late than never. david: to put a fine point, luke, money supply hit a historic record. from 2007 to 2022700% increase in the money supply. that is largest jump in american history that is the source of concern here. what is happening the fed is buying up all the debt we've

been spending through the trillion dollar programs you're talking about, printing money to buy that debt, and as a result the money supply has exploded. that has to be taken care of and so far the fed hasn't done >> yeah. you're exactly right. there is no such thing as free money, even though kind of felt like that over the past two years, we were printing all the money, felt like money grew on trees. that is not the case. we'll pay for it now. pay for it down the road. the federal reserve, that is my biggest concern if they off-load the balance sheet the balance sheet is the highest it ever been. i'm saying you have to go sell your stocks. i'm not necessarily saying that. i am saying you have to be selective to place your money. 2020 is the year to hit singles, not home runs. the name of the game in stock market is cash flow, and pricing power. generate companies with current cash flow, high margins to raise cash. 80% hit sings gets, the other

20% hit triples and home runs. pay for growth. walmart is a perfect example of that this morning. they're up 2 1/2%. 50% of business is groceries. people will not stop buying groceries. that is perfect example of a stock you should place your money in. david: the point, whether you have 27% increase in the money supply in the united states, you realize that the fed has just been nipping around the edges. if they get serious about inflation they will have to do something really to cut off that money which could cause a major slowdown, no? >> i mean that is the biggest concern, that they will raise rates because they are late to the game, right? the thing is raising rates will benefit the majority of americans. when you raise rates, you hedge against inflation, inflation is 7%. probably still going to see 4 or 5% inflation t helps the purchasing power of consumers which in return helps earnings for companies. i don't think it is necessarily too late to save the economy but

at the same time we're definitely paying for it. that is why we saw the stock market already drop 20% on the nasdaq and 10% on the s&p. a little bit of it is already priced in. david: of course russia doesn't help things at all. luke lloyd, thank you very much for being here. appreciate it. washington republican congresswoman cathy mcmorris rogers joins me now to talk about what is happening overseas. it is not only roiling the markets, congresswoman, but concerning americans with family in the military. worried about getting drawn, having family members getting drawn into a conflict in europe. is that a concern to your constituents? >> for sure, it is a concern we would be drawn into a conflict due to putin's aggression in ukraine and also due to policies around energy that have empowered putin. so at the very time that america has been shutting down american energy that only benefits putin and that's made him emboldened to take more action.

since biden took office we've been shutting down american energy, shutting down our pipelines, becoming more dependent even on russia, oil and natural gas here in the united states as well as europe becoming more dependent upon putin. think about the times which we're living. it is time for us to flip this switch. time for us to say yes to american energy which would help push back putin and save our lives, save our precious men and women that are in the military. their bloodshed, versus oil in the ground. david: well, meantime you have one of our allies overseas that many people say has been compromised by their relations with putin, particularly on the pipeline deal, that's germany of course. vice president harris is going over to germany. it's a very delicate issue, the intrigue over the political conflicts of interest germany has with russia. do you think she is the right person to send over to deal with that? >> well, i think that we need to

be tough on putin. we need, we know that he is using energy to manipulate his power and to assert his power whether with germany and nord stream 2 and it is clear that there is germans who have relationships with russia that are, that are very close and they're more interested in appeasing putin than is actually doing what is best for the germans and europeans. putin for the one for many years has been funding ngos, non-government organizations in europe that are antifracking, educating europeans as to the dangers of fracking. so there is no fracking in europe. they're dependent upon putin and these pipelines to europe. at the same time, the united states unfortunately under the biden administration has been further shutting down our american energy only making it

hard for ukraine and eastern european countries, we would like to export our natural gas into the region so they're not dependent upon putin. david: how far, you have intelligence available to you that most of us don't have, how far do you think russia is going to go into ukraine? do they go beyond ukraine to other areas of eastern europe? some people mentioned the baltics. baltics, unlike ukraine are a member of nato. we would be obliged to go in there to help if they do but is that a concern if he goes into ukraine he won't be satisfied it will extend his reach even further? >> i'm certainly concerned that putin feels emboldened, when it us ukraine or beyond ukraine. what i know is that ukraine wants their independence. they want self-determination and i believe that the united states probably with energy for example, could help deter putin

from his aggression in ukraine and beyond. putin wants to control the black sea. that is where we export our natural gas to ukraine and to eastern europe. the putin want to cut off the black sea so that american energy cannot get into those, into those, into that region. it is energy that really could help avert this, this action by putin into ukraine and beyond. david: just the imagine the situation if we still had the energy independence we still had a year ago t would change the dimensions of the entire conflict in many ways. congresswoman mcmorris, thanks very much for being here. >> thank you. we need to flip the switch. get our energy back on. david: absolutely. thank you very much for that. i appreciate it. back to the inflation story, after the break the value menu got a bit less valuable. the impact inflation is having on burger king coming next. ♪.

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♪. david: well the hunt for the perfect home getting a little harder, potential homebuyers already tealing with rising

prices and low inventory can now add mortgage rate increases. they're know at a multiyear high to their list of struggles. ashley webster is here to explain. hi, ash. reporter: hey, david, look, rising interest rates of course mean bigger monthly mortgage payments at a time when the size of an average purchase loan stands at record $435,000, and the higher prices are unlikely to drop anytime soon as demand continues to outstrip the supply of homes for sale. right now the average rate for a 30-year fixed mortgage, right around 4.23%, up from just 2.73% at the start of the year. so, for example, a 400,000-dollar home loan, with 20% down, without the taxes and fees has jumped from 1631 bucks a month to an extra 1899. that is extra 268 a month, more

than $3200 a year. >> will be some shift in the market in 2022. a higher mortgage rates eventually hold back some buyers. so we expect home sales to actually decline somewhat this year compared to last year. modest decline but not increasing because of higher interest rate. reporter: housing data has been mixed. we learned today in january building permits surged by 1.89 million. that is the highest level in more than 15 years, but housing starts last month fell 4.1%, first decline in four months. as for homebuilders, they say they're dealing with the higher cost of supplies, inflated lumber prices alone are adding $19,000 to the price of a new home. yes, the supply chain is still broken, adding months to completing a project.

>> right now home increased building material costs and delay in getting them. i've had guys tell me four or five month delays getting everything from cabinets, garage doors, appliances. reporter: you know, bottom line if you're thinking of buying a home, it is still very competitive with multiple offers commonplace. the inventoriries are still low and longer you wait, david, the more expensive that mortgage is going to become. david: yeah. inflation and rising interest rates. it's a bad combination. reporter: yep. david: thanks very much, let's bring back luke lloyd to talk a little bit about this, i'm worried, luke, about big r, rec. when you have the pressure on housing, rising interest rates and rising inflation, supply chain problem, labor shortage, et cetera, it seems like a perfect storm? >> so, so many people right now

are getting price the out of houses. if you look over the past year-and-a-half. prices have gone up. interest rates are rising. if you look at a 300,000-dollar home, for example, raise interest rates by 1% that is additional 200, 250-dollar a month payment. that eats into so many peoples pockets. first-time home buyers are people feeling pain right now. if you had a home past year-and-a-half, most likely people took advantage of the lower interest rates and refinanced their house or any kind of loan they had. there is benefits and cons to every scenario that we have, right? everybody is being impacted by high inflation. real income is down now over 2%. we had 7% inflation, 5% wage growth, technically people making less money. recession is big, big word. i wouldn't use that word yet. definitely there are issues to overcome. david: luke, we were talking earlier how much the fed will have to do to cut inflation.

how much they will have to draw down that 27% increase in the money that is circulating in this country. you know, i remember, i know you don't, i know you don't, but i do remember when we had 17, 18, over 20% interest rates. that hit into the mortgage rates. you saw mortgage rates of 16, 17% back in the early 1980s. are we going there again? is that a possibility? >> i don't think we're going that high, david. we could reach up five to 10% level. i don't think we'll go over 10% anytime in the near future. you have to look why inflation is happening. there are multiple reasons, right? obviously we reopened a economy basically fully shut down. we pumped trillions of dollars into that economy which makes high demand and money supply issues. trillion of dollars will take a long time to the economy, we'll

just inflate prices. the supply chain issues will eventually get figured out. therefore i don't think the fed has to hike anywhere close to the '80s or early 2000s, four or 5%. i think they can hike 2%, 2 1/2% in the en, we'll probably make it through this. we'll not see 2% inflation anytime soon like we saw over the past 10 years. i'm thinking four to 5% inflation rate. which is why the stock market and investments are so important right now. you have to be able to hedge against that kind of inflation. that six or 7% rate of return that investors were used now, you have to get closer to 10 to 12%. david: wow. luke lloyd, good stuff. appreciate it. >> thanks, david. david: canada's "freedom convoy" truckers are digging in as ottawa police warn a crackdown is on the way. grady trimble is live on the streets of ottawa with an update coming next. reporter: hey, david. we're seeing a heightened police presence on the ground here in

ottawa but we're also seeing a lot of protesters and truckers staying put. we'll take you live here next. ♪. and it's easy to get a quote at libertymutual.com

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♪. >> fans the flames of an unjustified national emergency, mr. speaker, when did the prime minister lose his way? when did it happen? >> my conservative party members can stand with people who wave swastikas. can stand with people who wave the confederate flag. we will choose to stand with canadians. these illegal protests need to stop and they will. thank you. david: just to be clear, this was a jewish representative in the house of parliament in canada who was accused by trudeau of being sympathetic to nazis. it is extraordinary. the tension in the house of commons getting as hot as tensions in the streets of

ottawa as truckers protesting there are bracing now for a police crackdown. grady trimble is live in ottawa with the very latest. grady? reporter: david, we're seeing it unfold right in front of us here. this fence was put up in front of this government building early this morning, before the sun came up. we also saw crews putting up similar fence in front of the parliament building. prime minister justin trudeau doubling down on those emergency powers which give the government broad authority to try to remove the truckers including freezing and suspending personal and company bank accounts which the deputy prime minister confirmed today, that they have not just threatened to do but they have already done but you can see here, there are still a lot of people milling about here on wellington street and parliament hill. a lot of protesters joined the truckers and truckers themselves who have told us despite this ratcheting up by police, they are not moving.

listen. >> the elites need to be knocked down a peg. they need to remember that they work for us, and power is in the people. that is why they're scared. reporter: what would be the best way to end this? >> come out to talk to us. come out talk to everybody here. let's sit down like adults, let's sit down like canadians, you know? reporter: kelly there, a lot of protesters and truckers i've been speaking to, david, told me if they would end the mandates they would leave. as of now that hasn't happened. nothing close to it. in fact they're ramping up the powers government has instead of the opposite. so for now a lot of them plan to stay put. i would like to end in reference to the video you played at the start of the segment which is to say, in the several days that my crew and i have been on the ground here we have not seen a single swastika or confederate flag. the environment here, even though heightened police presence is one of cordialness

still. the protesters say hello to police officers who are moving in larger numbers presumably in the next hours or days to try to remove them, david. david: very good analysis. thank you very much, grady, i thank you for your reporting. we get to "washington examiner" reporter tiana lowe. first of all, tiana, call out a jewish representative in parliament being sympathetic to the nazis. it is just disgusting. the stupidity of doing something like that cannot be overrated. i know he is a prime minister, forgive me, it is absolutely idiotic to call a jewish representative sympathetic to the nazis as grady reported there are no signs of nazis any way? >> yeah. i don't think anyone ever accused justin trudeau being the sharpest tool in the shed. justin trudeau supported india farmers protest, directly a

contradicting a key western ally, right? one thing modi did, he understood, not only that you have to respect for concerns of your citizens but also how basic economics works, that you do not start a bank run you by threatening to freeze the bank accounts. right now true siced this mob on himself. worst earn my is not canadian media but american media. american and media reporters look nothing dox the funding for protesters, what do all the canadians do, issue a bank run. they know longer trust the banks to not comply with government mandates. trudeau is not, all he is doing is inflaming tensions. as the trucker just explained -- [inaudible]. david: i think tiana hit froze up on us, right?

is it back? nope. okay. i'm sorry about that we were just getting into the gist of the subject there. we'll try to get tiana back with us. these things happen in the era of pandemics. as oil prices are rising progressive lawmakers are surmising, corporate greed, not inflation or geopolitical tensions that are the culprit. we'll debate that coming up. ♪. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪

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joins me now with what he sees is the problem. let's see, talk about, the chairman by the way of the senate budget committee, bernie sanders is a socialist who is the chairman of the budget committee in the senate. i never thought i would see the day. supply and demand and inflation have nothing to do with the price of oil. it is all about corporate greed. my question for him what happened to corporate greed when oil was $40 a barrel about year-and-a-half ago? >> well, exactly. we know that supply and demand and cost of oil depends on a number of factors and really this isn't greed, this isn't oil companies taking the advantage of current circumstances it's a holistic view. you have to look around what is going on around the world and administration in our states and washington, d.c., and their actions and their choices and things they're asking to do like provide more imports, bring oil from foreign countries that don't share our goals, our

environmental concerns, or our political philosophies rather than asking american producers and providers to provide energy we need. david: you talk about energy we need. if we're going to grow at all in this country, maybe senator sanders doesn't want us to grow, maybe he wants us to be a weaker country, but if we're going to grow, become a stronger country, we'll need more energy. is there any signs that the united states is prepared to substitute at this mount in our history all of the alternative forms of energy, solar, wind, et cetera, for fossil fuels? >> well, look, there is a lot of, we're not seeing signs of what should be happening. what should be happening right now is that the biden administration should be turning to american producers, rye finers and others to provide this energy. the states, i'm from out west. out west we should be instead of banning, mandates, dismissing our industry and the energy that we provide in a affordable,

reliable way, we should call on our producers to provide more. we need our energy independence. we do not need to depend on foreign sources of energy and we really should be maximizing what we have in our country that puts people to work. it provides you know, a reliable and affordable source of energy for a nation that is really emerging from some very difficult times, facing a lot of uncertainty with what is going on in the world. david: particularly what is happening in russia right now but, kevin, i remember the days of oil spills back in the '60s and '70s, some even more recently and they were horrific. the damage to the ecology, to the landscape. >> sure. david: eventually they cleared up but, hadn't we as a result of those oil spills largely gotten a lot better about producing oil and maybe some of the restrictions in states like california that have a lot of access to fossil fuels, but it was cut off because of those spills, is it conceivable that to bring them back to some of

the areas that we were most concerned with? >> sure. any of those spills you know, are a tragedy and our companies work very hard to be the most environmentally safe and conscious of, you know the people that work there, the communities that they operate in to be safe and avoid those sorts of things. everyone of those are a lesson. lessons we've taken from those things in the past, led to stringent environmental regulations in the world when it comes to producing oil. for every barrel we don't produce in california or anywhere in the united states we're depending on a foreign source. so, yes, we should be, we should take those lessons. we should access resources that we have, we should, we should work to provide affordable, reliable energy to the united states. we don't want to depend on foreign countries to provide our energy. we don't need to be dependent on the craziness that is going on in the world and what we need our lawmakers in washington and our states not to be a part of that craziness.

not propose policies that would ban or mandate the oil industry or tax other states for production of oil in their own state, that is what is going on in washington right now. there is almost this kind of madness out there when it comes to energy policy and things, some folks are trying to do that really hurt everyday citizens. david: by the way we are a global community. you know the left is the first one to point that out but they seem to forget about the fact more we rely on foreign producers and refiners of oil and other fossil fuels, the more we're relying on the dirty producers and not those of us that care a lot about producing cleanly, no? >> no, true. i think that is why there is such a distrust of our politicians right now. it's a pretty simple thing to understand. if which don't produce it where we have the toughest environmental regulations in the world it has to come from somewhere and we know where that somewhere is. we know the chaos with these places are, what it could mean to our country.

we have the right solution. it is here in the united states, with our people, our industry, our innovation and people who want to do the tough things to provide energy in affordable, reliable way. david: supply and demand is a pretty easy thing to understand but the chairman of the senate budget committee but apparently doesn't have a clue what it is and you who it affects prices and that's a worrying situation for all of us in this country right now. kevin, thank you very much for being here. good to see you again. >> you bet. david: nationwide are looking to fix theon going teacher shortage. oklahoma governor's joining us with how he is tackling that problem next. ♪. i earn 3% cash back at drugstores with chase freedom unlimited. so i got cards for birthdays, holidays, graduations,

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♪. david: as states begin lifting mcmahon dates and students return to in-person learning schools are scrambling to find enough teachers to keep classrooms running. lydia hu is in new jersey with the very latest. reporter: i there, david, since the start of pandemic 389,000

educators left the profession and it is putting a lot of pressure on schools trying to keep classrooms open for students. some school districts are using federal funds to offer more pay to recruit new teachers. others are turning to the national guard for help. there are some colleges introducing three-year teaching degree programs to try to get more candidates in the pipeline faster but here at millville, new jersey, high school, the school is already empty, because classes are only being held half a day for the entire month of february. the school district does not have enough teachers to offer a full day of school. watch. >> so our administrators and our teachers are working feverishly to cover classes for kids. so it is down about, it is down about 2/3. so every day became solving a puzzle, how we would cover

classes. reporter: now new jersey, half a dozen states here in green or red are doing away with mask mandates in schools. the superintendent says that is a great move that will improve learning for students but it is also one that could complicate the teacher recruitment. to accommodate teachers that may have concerns about, the superintendent says he is considering a test to stay policy. if there is a covid exposure in the schools, teachers and students would have to test negative to continue to stay in the schools. this whole issue of taking away the masks, inintroducing tests to stay, it introduces a careful balancing act, education leaders are running districts trying to make to keep classrooms open and kids in school. david. david: a teacher shortage and we spent $200 billion on k-12 education, all the covid relief funds 200 billion? where did the money go if not to get teachers. lydia, thank you for that.

reacting for parents demand for more control of parents of their kids schools. oklahoma passed a empowerment act in state senate, provides money in empowerment account for their kids education. for an idea how it works oklahoma governor kevin stitt joins me. thank you, governor being here to talk about it. i love this quote of yours, god gave kids to parents, not the government. how does that statement inform this new policy? >> well, thanks, first off, thanks for having me on. david: my pleasure. >> it is common sense in oklahoma. parents want more options. they want more choice. so we're trying to get, we're trying to fund students not systems in the state of oklahoma. it did pass out of the senate. so we're excited to get this legislation. we think it will be revolutionary for parents and more options. ultimately improve outcomes in our education community here in oklahoma. david: another thing you've said is tax dollars belong in the

classrooms, not in the pockets of bureaucrats. how did that happen? how did the money switch from helping kids in the classroom to going into pockets of bureaucrats? >> well i've asked for the first-ever audit of the state department of education. we want to make sure, like you said, money belongs in the teachers. the magic happens when you have the best teachers in the classroom with their students. i also proposed to pay teachers the best teachers, up to 100,000 a year in the state of oklahoma. because we don't want them having to leave the classroom to go into administration to make more money. i want the best teachers in our classroom teaching our young people in that next generation. david: governor, you know well the teachers unions hate the idea of merit pay. they want everybody to be paid the same no matter how good or bad those teachers happen to be. how are you dealing with the unions? >> you know, i mean, again it makes common sense to us.

i come from the business world and you need to have merit-based pay. you can't pay, the principals know who the best teachers are. we want to reward them. so we're doing that. we're working through that. we're doing paycheck protection plan in the state of oklahoma. unions should be opt in, not opt out we try to make sure to protect our teachers. the unions want to grab ahold of the paycheck hold on to it. they don't like parents to have options. they believe they should control and dictate but here's the deal, school choice and options are not just for the rich. we want that for every single kid in the state of oklahoma and it shouldn't just be a few people have the luxury to choose the school that best fits their needs. we want every oklahoma kid to have that option. david: school choice is so important. it's really the root cause of all of this, or lack the school choice but, quickly, you just heard my last segment. we're running out of teachers in

places in new jersey, other states around the country despite the fact we spent $200 billion in covid relief on k-12 education. what happened to the money? >> that's why i'm doing an audit of the state department of education. we want to find out where that money went. most of our schools across oklahoma are open. we had a couple school districts in the larger communities that weren't. but that is a great question. that is why we're auditing it. it is taxpayer dollars. we want to find out where it went, make sure we hold those responsible that didn't spend it correctly. david: really simple by the way. parent want their kids to be better prepared to deal with the real world when they graduate, to go on to higher education, et cetera. if that is what they want. test scores show that is not happening. we're paying more, getting a lot less for it. are you working very quickly with the governor of virginia and his plans to turn that school system around, quickly? >> yeah.

glover youngkin has done a fantastic job. in oklahoma we want every kid to be college ready or career ready. that is what we're focused on in oklahoma. we have to break down the silos between career techs, higher ed, common ed, really focus on the kids getting them ready. this comes with more options for parents. david: it is a great experiment. we need great experiments in a country where our education is slipping badly. governor stitt, thanks so much for being here and explaining that to us. appreciate it. >> thanks, david. david: well the senate about to start voting on a long unclear road funding the government and averting a shutdown. details on that coming up. ♪.

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they're taking a vote right now to break a filibuster just to start debate on an interim spending bill. some gop members demanding the shutdown of vaccine mandates and requirements for schools. >> there are a few republicans who are trying to leverage this moment to get a vote on something, but i am confident that we will leave this afternoon having adopted a continuing resolution. >> reporter: a continuing resolution would fund the government at current levels through mid march. that's when congress would vote on a broader spending package. current funding expires tomorrow night. >> to be, once again, at the last minute having two or three senators deciding that their favorite pet amendments are more important than keeping the government open and willing to risk it to hut down the government. to shut down the government. >> reporter: senate minority leader mitch mcconnell do you wanted there would be an issue with government funding, other

gop members feel the same. >> while it's looking a little bit like a typical thursday morning, which is a train wreck, and then miraculously after lunch things seem to clear, and people are interested in getting back home. >> reporter: this comes down to the math. democrats have at least three members out -- new mexico democrat ben ray ray lujan is recovering from a stroke is. it's unclear if they have the votes to reject the amendment on vaccines since their attendance is lagging. david: when does it not come down to the math? [laughter] >> reporter: it's always about the math, and it's augmented in ooh -- a 50-50 senate. david: absolutely. mean meanwhile, a u.s. avocado import ban from mexico sparking fears of a nationwide shortage. thank god with it's after the super bowl. jeff flock has the very latest on that. hey, jeff. >> reporter: it's all about

this guy right here, david. that's a perfect mexican avocado, and i'm at a restaurant in philadelphia. as you can imagine with a name like that, that, by the way with, means good vibes, they use a lot of avocados. here's the issue, a ban right now on mexican avocados, and we get 80% of our avocados from mexico. and the problem is over there, apparently drug cartels getting involved in avocados. the c or oo of the garzas group, you use a lot of avocados. >> we do. we bring them in about three days a week throughout all of our restaurants. >> reporter: how worried are you about this? clearly, it's a crop, to sometimes there are droughts and that sort of thing, but this is a new twist. the cartel. >> yeah. we go through a slump every year where we're worried about this kind of thing with the avocados, but we don't know when it's going to end this time so, sure,

we're absolutely -- >> reporter: show me. in terms of an avocado, that's the perfect green avocado, right? >> right. we're used to seeing this pretty little guy on the grocery store self-. we use them when heir a little bit more black -- >> reporter: got a better flavor. >> it does. >> reporter: these things don't last for long, right? >> they don't. we're everyone net empathetic to the restaurateur in the u.s. and farmers in mexico. >> reporter: we talked to one woman who said we may have to take them off her menu. >> if it's too expensive, i don't think people are going to buy it. we just wait it out. things like weather or demand really affect the price. finish. >> reporter: do you at some point get to the point where it gets too expensive? if avocados are -- you with buy

a crate of these every -- how often? >> yeah. so we'll go through this, we use very small batches because we make it fresh, but we go through it very quickly, and we bring it in as often as we need it, say three or four times a week. >> reporter: so how long can you hold out here? >> so we usually, refrigerated these guys will last us for probably over the course, of the next couple days, we'll get another couple orders in, but after the next 7-10 days, we'll wait and see. >> reporter: it's crazy. i guess the cartels can't make enough money in heroin anymore, they're involved in squeezing -- pardon the pun -- squeezing the avocado farmers in mexico and threatening the, one of the inspectors could be there, which is why we've now got a stop, a halt. david: wow. well, i am impressed, you've learned a lot about the fruit. thank you very much, i appreciate it, jeff. >> reporter: i have. david: a new survey showing americans list inflation as the

most urgent issue mow facing the u.s. while covid actually sits now at number three behind immigration. so does this prove that it's time to roll back all the restrictions, maybe help those inflationary issues in doing so? let's get reaction from democrat strategist kelly hyman if, excuse me, and former ted cruz campaign pollster chris wilson. chris, americans clearly have lost confidence in the president's ability to deal with inflation. you look at the fox business polls that we've had, 47% of americans find his actions hurting the cause of inflation, only 32 % -- 22% say is he's helping. biden's social spending plan, the bbb plan, would push inflation higher 46% believe that. only 21 better -- believe that it would push inflation if lower. is it possible for the president to turn public opinion around as inflation just gets worse?

>> there's a lot rolled up in that. i'll give you an important statistic, david. no incumbent president has ever seen his approval rating increase after january 31st of an off-year election. we're past january 31. he's in the mid 30s overall, he's actually even in the 60 approval rating with democrats, which is catastrophic. but inflation's a real crisis for american families and one that he seems completely unwilling to address. at point he's going out on the road, so even a secret plan is better than being proven clueless, running around the country touting the big spending bill that nobody believed did anything to solve inflation and did nothing more than benefit government contractors and special interests. he's not talking about the crushing burden that his spending is putting on everyday families, and it's creating a downward slide right now that i think you're going to see absolute tank -- absolutely tank his presidency. his own party's running from him. david: kelly, as chad pergram is

always pointing out, it's all about the math in congress, and the math just isn't there for the president because not only can he not get a single republican vote in the senate, but, of course, you have senators sinema and manchin who are standing firm against spending any more money right now. senator joe manchin said, this was earlier in the week, he said, quote: as inflation and our $30 trillion in national debt continue a historic climb, only in washington, d.c. do people seem to think that spending trillions more of taxpayers' money will cure our problems, let alone inflation. he was speaking to the president. >> well, your point, the fact about inflation, we have to first understand where it comes from and who has the power about inflation. we have to remember that that comes under the federal power. and so it comes under the federal reserve has the power to tame inflation. and so i think that's key, to remember that.

it's not under the president's, under the federal reserve to do that. but i would disagree about the polls. with every poll there is a margin of error on any type of poll, and let's think about all the great things the president has done. we have the bipartisan infrastructure bill that has passed, the covid relief bill that has passed that are helping american people. and i think that's create. so i would totally -- that's key. the president has done a great job and will continue to do a great job for the american people. david: this is well beyond the margin of error, twice as many people think the president's policies are hurting inflation rather than helping. but without the -- the main key is without senator manchin's vote, this thing ain't gonna get done. >> no, it's not. and the fact is, is what president biden has done so far has done nothing more in the eyes of the american people of increasing inflation, prices, the cost of avocados, for crying out loud. our guacamole costs went way up for the super bowl, it was crushing. it has affected everyone's

lives. the cost of gasoline, i could go on and on. we could do an entire segment where we recite how much prices have increase. but when we get into what biden has done in terms of giving money, you had governor state99 of oklahoma on because the amount of money that was wasted by bureaucrats and education bureaucrats in terms of not spending it where it was supposed to be, it's mind-blowing. i encourage all 49 other governors to follow governor sti, the tt's lead, because i think we'd be shocked to see how much ended up in the classroom. david: that's's what the omb is supposed to be doing. there's $800 billion that hasn't been spent yet. the president sort of doubled down yesterday saying he could break up the bbb plan into little part, and he pinpointed specifically the $555 billion in climate spending as a key area of agreement. how would that work? how would you break up bbb in bite form that maybe could be

passed? >> well, i think that's a really good point. so we're talking about the build back better plan that's going to help the american people. so it could be parceled out in different ways to come together. i think it's important for different parties whether you're republican, democrat or independent, to come together and separate the bill into different components as well and pass it that way to help people, to help people to make sure that people get free hearing aids, to make sure -- help people with childcare or taking care of their elderly family and help the american people. i think that's really important to do that. and i think build back better does that. and i definitely think that that's a smart idea, to pass it in different -- david: kelly are, i just have to ask you. you said free hearing aids. nothing is free in this world, you know? they're not free, and the cost comes in the form of inflation. isn't that precisely the problem that we have now, giving out things that are supposedly free that we end up paying for in inflation? >> no, i would disagree with you. as i stated before, we have to remember about inflation and the

key thing about inflation is that it's by the federal reserve to contain that. david: well, because they -- we know why that is, kelly, because they print money to pay for the bonds that they buy from the treasury because they're spending money in washington that we don't have, so the federal reserve buys up those treasury bonds and prints money in order to buy it up, and that's where inflation comes from. >> you say you talk, want to talk about the money, and they always say it's the economy, but let's look at the economy and what biden has done to the economiment look at the unemployment rate, it's less than 4%. let's look at the job rate, the lowest that it's been that people are, it's the job rate, it's helping the american people since it's been since the 1960s. unemployment is less than 4%. and we haven't had that in decades. let's also -- david: well, we had it -- >> please, please, please don't interrupt me, if you could let me finish. the fact that the infrastructure

bill that the former president tried to get that passed, and he wasn't able to do that. and biden was able to get the infrastructure bill passed. david: he did, indeed. >> i think that's key. i think it's important to dui him credit where credit's due. david: well, he did get infrastructure passed, but agais largely come down to what the fed does over the next year. we'll see what happens. if they can cut inflation without causing a recession, it'll be quite a feat. we'll see if that happens. we appreciate you both coming on. kelly and chris, thank you very much. have a great day. >> thank you. david: well, san francisco parents celebrating the recall of three school board members. coming up, the message for their replacements. ♪ ♪ oh, i want to get away, i want to fly away. ♪ yeah, yeah, yeah ♪♪ if

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>> it's a great today in san franciscoed today. i think the message is loud and clear, you know? we're not going to put up with this sort of stuff from the school board. so whoever the mayor wants to appoint next time better watch out in terms of holding kids out of school and prioritizing things like renaming schools or,

you know, overly woke politics instead of helping kids learn. david: san francisco parents celebrating the recall of three school board members, radicals who "the wall street journal" editorial board called a wake-up call for the woke. let's go to darla are rum foe, president of the children's scholarship fund which has provided scholarships for over 200,000 needy kids around the country. you've been saying for months now that americans have just had enough of the bureaucrats and the teachers unions and all the others taking control of their children's fife. -- future. i think we really cross a rubicon when something like this can happen in san francisco, of all places. that shows that we've reached a point of no return. >> yes. and playing off of what both the parents said and what was in the "wall street journal," i can't help but think we've got a counterpoint to wokeness here, and it's the great american parent wake-up. and it's not surprising that this is happening, because for the last two years schools were

closed, parents saw their children with a loss of learning, their own lives were disrupted, and universally what do parents care about? they care about doing the best thing for their children. we hear that -- we had adventure in school choice this year. the parents say we just want to do the best things for our children, and of course they got upset. i don't think it's political for them in any sense of the word. we have 80% of parents now across the board, you know you've got democrats, republicans, all races, all religions who now support school choice. i with wish the politicians would listen to the parents. why can't 80% of politicians support school choice, because it's the right thing to do. david: well, they can't because they're getting paid off by the teachers unions, and they just got a big cash cow in terms of covid relief. i was talking to the oklahoma governor about where that $200 billion in k-12 money from covid relief went, because we're losing teachers this classrooms all over the country, and we

don't see -- and now i suspect a lot of it went to the teachers unions. they're going to use that as political power to buy off more politicians, right? >> probably. but we've seen what happened in san francisco. like you said, who could have expected this would have happened in san francisco, a recall of three school board members. there's this kind of momentum around the country, and guess who's stronger than teachers unions if they're galvanized? that's parents. they are stronger. they have a fierce love for their children. they want -- they know what the right thing is for their children. we need to empower parents, and there are politicians who are not beholden to teachers unions. i love -- i go back to winsome sears -- david: she's the lieutenant governor of virginia. she's wonderful, yes. >> and i believe her when she says it. and parents now are so aware, so cognizant of what's going on. they really -- they're waking up. and they are going to the to vote for people, i believe, that they will vote for people based on this issue. it's so important to them. there's nothing more fierce than

a parent's love for their child. i've seen it over and over and over again. i have a lot of hope based on what i'm seeing. so it's not all hopeless out there. david: by the way, the governor -- i know you love this phrase that the governor said. he said god gave kids to parents, not to the government. [laughter] i think that could be sort of the bumper sticker for this school choice movement, and it's not just virginia and oklahoma. now we even see it in san francisco. glory, hallelujah. darla rom foe, great to see you. thank you so much for being here. >> thank you. thank you so much. thank you. david: meanwhile, new york city mayor eric adams is calling on company leaders to bring their workers back in to the office, emphasizing that empty buildings continue to drag on the city's recovery. charlie gasparino joins us now9 with the latest on this, and you've been forecasting for weeks now. >> let me just make one point about your last guest. i'm not a parent, but i know, obviously, a lot of parents. if you come home, your kids are home, they're brainwashed by this when they're home, tiktok

and all the insanity that's on this, and when you're at school, you're brainwashed by crt. what -- if you want to know why parents are revolting -- david: by the way, tar la's organization was started, was initially fund by teddy forceman, great wall street guy who you knew. he put his money where his mouth was, and god bless him for that. all right. to the story of new york. >> here's the problem that eric adams has. he's making a call for everybody to come back 100%. the firms are saying, yeah, we're coming back, but here's what 100% means for morgan stanley, jpmorgan, goldman sachs, there are some workers that have to be there all the time. there were some people at the height of covid that had to be there all the time. but for a lot of workers, 100% is going to mean flexible work hours, being able to work from home twice a week. i don't think eric adams has digested what wall street is doing. just about every firm is is allowing these flexible -- what do they call --

david: flex hours. >> flex hours where you stay home two days a week, be in the office three days a week. but if you can do your job at home, we're not putting guns to your held. now, why are they doing that? number one, remember, they were very dog gnattic -- dogmatic at first. there's competition for the top workers for tech, so eric adams is in a a real pickle, and so is governor hochul. these are people that spend a lot of money -- bankers, brokers, salesmen -- these are people who can work from home twice a week. they spend a lot of money in the city on lunches, dinners and you name it. they're going to be spending a lot of that money in greenwich, connecticut. trust me on this. eric adams has a huge problem on his hands. one of the issues he also has is crime. a lot of people, workers are more worried about being mugged than getting covid, obviously, right now since we've had covid subside. if he doesn't get crime under control, if he doesn't stop the fact that when you walk down the

street in midtown manhattan you can get assaulted at any time of the day, forget about night, there's going to be more flexible work hours because that's what they're hearing. crime, not so much covid. and guess what? we can do everything at home for twice a week. so, mayor adams, good luck. we all wish you luck, but if you don't get crime under control -- david: he talked a great game, but we haven't seen the action. >> he cut $2 million out of a $95 billion budget. do you realize how absurd that is? new york city has a $95 billion budget. and, by the way, there's stuff off budget that we don't even know about. the tort soft -- sort of authorities. he cut $2 million, and he's patting himself on the back. who does he think he is? does he think most people can't add? david: we haven't even talked about taxes, but we've got to move on. coming up, irs under duress. why problems with the agency

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♪ david: well, irs officials are warning that it is cash-strapped. the agency itself has run out of money, and now there's questions over whether agents are keeping records secure. hillary vaughn joining me now from capitol hill with more on this. actually the, there have been a lot of questions about over the last couple of months, hillary. >> reporter: there have. in fact, the irs openly admitting that essentially they're getting buried alive under a mountain of unprocessed tax returns, and taxpayers in the meantime are paying the price. today the senate finance committee held a hearing digging into what is causing this backlog. the problem is pretty bad. 24 million taxpayers are still waiting for their refund from last year as tax filing season this year is almost here.

and when taxpayers try to figure out what's going on, they cannot get anyone on the phone. only 11% of taxpayers calling the irs help line were able to reach a customer service representative. over 630 million people tried to use the online where's my refund tool but were unable to get help. the democrats say this problem has been triggered by budget cuts at the irs that they say republicans have pushed who believe that starving the irs of funding gives them less resources to go of after people cheating on their taxes. senator ron wyden, the committee chair, says today it's more likely for a wealthy person to get hit by a meteor than to get audited. but a new bill, the irs priorities act, will be introduced tomorrow by congressman westerman. he told us in a fox business exclusive the bill would ban the irs from hiring more auditors before they can clear the

massive backlog and get taxpayers their money back. >> they work for the american people, not the other way around. i promise you if people haven't paid their taxes, the irs will be going after them. if you don't pay your taxes, you get interest and penalties, but i doubt the irs is going to adjust for inflation or pay interest on these returns that are past due. >> reporter: and, david, over 75% of the irs' work force is still working remotely from home, so not only are there concerns that this remote work is not as productive which is adding to issue of a backlog, but also working from home could be less secure. david? david: hillary, thank you very much for that. well, things are complicated enough for taxpayers and the ir, s and now colorado has plans to accept tax payments in crypto. geltrude and co. founder, america's cpa, as we call him, dan geltrude joins us. forgive me for being skeptical

of the problems they have because here they have time to leak information, supposedly secure information, private financial information of taxpayers, leak them to the press, to the left-wing press to push the idea of a wealth tax or whatever, and yet 24 million taxpayers still haven't gotten their refunds from last year. i mean, where are their priorities? >> look, david, there's no question about the fact being skeptical of what's happening at the irs is well founded. you're right. there are so many people that are waiting for their refunds from last year, yet we're not hearing a lot about that even though i'm feeling the pain if on behalf of my clients and what we're trying to do to help them. what we hear, the talking points, are we need more auditors in order to make sure that the rich people are paying their fair share. so of course people are going to get upset because you want to know what they're thinking?

where's my refund? david dave exactly. my point is i think everybody knows that the president wants to empower 87,000 new irs auditors out there. he claims he's going to get all this extra revenue from people who aren't preparing their taxes. but the point is when there are americans that are owed money by the irs,s -- 24 million, not just a handful -- i'm just wondering if they're just damming up that processrd in order to push the idea that they need those 87,000 awed a to haves. >> well -- auditors. >> well, it's certainly possible, david, but let's look at it this way. if the irs is behind by 24 million tax returns right now, we're already in the middle of tax season for this year. david cave yeah. >> what's going to happen? the problem is only going to get worse. so this is something that needs to be addressed by congress and, hopefully, they're going to act. david: we took a lot of time on this. you've only got 20 seconds, but are you in favor of using

cryptos to pay off your tax department? >> sure, i'm in favor of that, david. but, listen, i want to tell people, if you are going to transact in crypto, just remember you're potentially triggering a tax liability. david: right. >> so you end up in this endless circle of paying taxes. be careful of that. david: yeah, be very careful. dan geltrude, thank you for being here. appreciate it. well, coming up, the great larry kudlow responding to reports that the democrats are completely at odds with each other, let alone the republicans, about how to handle growing inflation. more on that from mr. larry kudlow coming next. ♪ -- now wouldn't that be sweet? ♪ sweet escape, sweet escape. ♪ i wanna get away, get away. ♪ whoo hoo ♪♪

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david: so is as the president claims he wants to lick inflation now, he's still pushing his multitrillion dollar bbb package, a new covid relief plan and a $350 plan to get bureaucrats to invest our money in technology. what could go wrong? [laughter] how can you do that and reduce the deficit spending that actually causes inflation? let's get reaction now from" kudlow" host, none other than larry cud elope himself. >> thank you, david. david: they just can't get their head around inflation. they can't agree with each other about how to deal with it. you have the president saying you have to spend trillions more in order to bring inflation down. of course, we haven't even talked about manchin who has the sanity that is lacking in some republicans. >> manchin's the hero. david: what do you make of it? >> here's what phil graham says, former senator phil graham, i've been really touting this. stop inflation. pause spending, reform welfare,

meaning put workfare back into welfare, and stop the money supply growth. three things. none of that figures into the democrats' position. and what they're doing is they're blaming companies, so today say corporate greed is the problem. and bind's the same way. -- biden's the same way. so they're going to have antitrust actions and gas stations are colluding with each other, okay? then they talk about the 18 cents federal gas tax. that's a silly thing, by the way. you might take a penny off gasoline taxes, but you need them for the highway trust fund. david right. >> drug price controls, that's another one. they love to do that. so our great pharmaceutical companies and biotech companies which literally invented vaccines and have made people far healthier, we will reward them by slamming their prices down, slamming their profits down and taking away the money they need for investment in research and development to come up with more life-saving approaches. democrats have never understood.

now, i won't say all of them. be fair. larry summers, okay, and i notice -- david: former treasury secretary under president clinton. >> that's correct. he had my job under obama, harvard president, etc. steve ratner and i have gone with each other down through the years, but he's got a blustering piece in the new york -- blistering piece in "the new york times" saying, you know what? biden's comments are all wrong about inflation. it's overstimulus which has created too much consumer demand. and one thing i liked about the ratner article, put it on the table for us, he correctly points out that much of these so-called supply shortages are a function of overstimulus and, therefore, overconsumer spending demand. you can't produce, i mean, we put so much stimi into it because, sure, there's going to be supply shortages because the

whole thing's lopsided in the first place. i've thought about that, i've talked to kevin hassett about that. the democrats won't go to the root cause. david: by the way, is stimi a technical term? >> i love stimi. david: all of those guys, i agree, are smart people. most of them are democrats or people who believe, understand why we have inflation and have a better solution than any of the democrats -- but the one that really matters is joe manchin. as long as you don't have, as long as the president and all the other people pushing for more trillion dollar spending to get inflation down, as long as they don't have joe map chin, they can't do any damage. >> that's right. no, no, save america, kill the bill. kill all the bills. this stupid covid bill needs to be killed, this stupid chinese compete bill needs to be killed. one thing about manchin, not only in his memos, not only did he correctly finger overspending, he also fingeredded the federal reserve. now, most democrats don't deal with the fed's balance sheet

which leads to money supply growth, which leads to overstimulus are. manchin did. and manchin's original memo in the summer of 2021 that schumer signed and then ignored, he said the fed should stop quantitative eadsing and go into quantitative tightening, and i give him such high marks for that. david: but they haven't. >> no. david: they're still doing it -- without using fancy phrases, they're buying up treasury bonds. the deficit spending, the treasury has to issue these bonds to pay for it x then they get the treasury to print money --? >> no, here's -- david: let me just show you this. >> yeah. david: this is the actual increase. look at the right side of the screen when it jumps up. that's when the covid spending began. and, again, it began under the trump administration, you were there, but it really increased in the last year. >> right. ours was there but not like the last 12, 15 months. but on the whole, here's the

thing just to complete, the federal reserve buys the bonds and pays for it with cash. so you sell me your bond -- david: right. >> -- i give you money. where with's that money come from? it comes from thin air. the fed prints the money. that money circulates through the economy, it changes hands all around the economy, and that's the overstimulus. they put too much n. we've had 40% growth in that n2 money supply figure. we've had -- david: never been higher in history. >> no. nothing like this. it's still growing on a year on year basis at 13%. by the way, the federal reserve serve is oblivious. jay powell said the other day this monitorrist's argument went out 40 years ago. look -- [laughter] trust me. you gave me the great piece about milton friedman in 1969, you know? inflation is everywhere and always a monetary phenomena. the reason n2 hasn't mattered for the past several decades is

we haven't done this. [laughter] it's been moderate. david: right. very quickly, it's not just democrats you have to worry about though because there are some republicans which signed on to this china bill which was released by the senate at $250 billion which is still a lot of money. it's now $350 billion because the house upped the ante. i call it solyndra 2.0 because of the fact it's the government handing out money to companies, deciding winners and losers just like they did with solyndra. >> it's corporate welfare, it's picking winners and losers, you're quite right. it's more china than china. it's the state trying to run these economic -- david: and you have republicans for it. >> yeah. it's a shame. 18 republicans voted for it. very, very bad vote. whether it was 250 or 350, i don't care. because, again, not only are they giving -- the energy department has another slush fund, the commerce department has another clutch fund -- slush fund. that's all this is. intel, which is having its own problems, big chip company, so

they go out and spend $8-10 billion to buy an israeli chip company. i don't fault them for that, but i don't want to give intel money to buy israeli companies. you follow what i'm saying? now, another point, $200 billion of private investment, not government, has been or is now in tow for the semiconductor industry. $200 billion. our private sector dwarfs all this government stuff, and i just want to reads you because -- read you because i did so much homework for your show, david -- david: it's gotta be quick. >> 5.7 billion has been appropriated for covid packages. this is from maya macguineas. 5.7 trillion has beenal rotated, only 4.9 trillion has been spent. that leaves $800 billion, 800 billion unspent. so you're going to to see the white house put a, oh, we need $30 billion in new covid money.

no, you don't. you have 800 billion unspent. stop parceling money out to your left-wing constituencies and interest groups. that is all this is. and you know what? republicans are guilty of that sometimes too. david: yep, yep. >> there are very few people who are pure free market supply-siders like you and me. david: absolutely. larry kudlow, you've taken every second of your time. [laughter] we'll be right back, folks. stay tuned.

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♪ >> reporter: welcome back to "cavuto coast to coast." greetings from a cold, wet and rainy ukraine located six hours west of ukraine's capital city. earlier back in washington before leaving the white house, president biden said he expects russia to carry out a full scale invasion of this country over the next several days. as a result are, secretary of state antony blinken raced to new york to try to stop it. >> but let me be clear. i am here today not to start a war, but to prevent one. >> reporter: over 150,000 russian troops are now massed on the border here in ukraine in what the russians call a tit for tat move, moscow has expelled or kicked out the deputy u.s.

ambassador in russia. russia's one of five permanent members in the u.n. security or council that has veto power on any resolution making secretary blinken's speech might be just for show. now, making it impossible also for the u.n. to make any meaningful action. an artillery round burst through this kindergarten. two teachers were injured, some are worried if incidents like this could spark a wider war which some are calling a false flag operation. i'm in the city where the u.s. diplomats have evacuated too after abandoning the u.s. embassy in kyiv abandoned over fears of a russian invasion. i spoke to the top u.s. diplomat here who says she had no choice but to shred all the sensitive documents. >> if we're not there, we do have to -- anything that's sensitive or classified, yes, we do have to destroy. >> reporter: do you think that sent the wrong signaling to the world? if. >> i think what we had to do was keep our american employees

safe. >> reporter: now, earlier this evening i walked the streets here, i spoke to some of the students, it's a university town along like -- a lot like boston, most people are living their lives. some people looked like they were out having fun. david, then again, a lot of europe was having fun on the eve of world war ii. they've david reaction from tennessee republican senator bill hagerty. according to secretary of state blinken, he says we're not here to start a war, but to from prevent one. it's not up to him, it's up to russia, right? >> it is up to russia, but we could have done many things along the way to not find ourselves in the position we're in today. you've got secretary blinken in new york, now i've understood we are sending kamala harris to munich to try to get our allies there to help protect border of ukraine when she can't even get the southern border taken care of. she's supposed to be in charge of that as well. this is yet another aspect of incompetence that we've seen from the -- david: well, senator, i share

your concern about our vice president. not to diminish her character in any way, but the fact is, is that this is a very complex issue because there are questions about whether germany's been compromised in its relations with russia. and i would think you'd send somebody who's spent a lifetime dealing with those issues in order to try to straighten that out in germany. do you think it's a mistake to send the vice president? >> well, someone with as poor a record on border protection as she has,s i think it really was a poor choice. again, perhaps they want her to own this, but the biden administration want -- has to own this. every negotiation that president biden has had with vladimir putin, putin's been dealt the face card. whether it's the new s.t.a.r.t. treaty, the fact that we allowed russian hackers to hack the colonial pipeline and russia suffered no consequence. and look what happened with nord stream 2. that pipeline that we had congressionally mandated sanctions that had stopped the development of that papeline, biden -- pipeline, biden came in

and allowed it to move forward. now he has a geopolitical weapon he can use over western europe, putin, for years to come. every card has been a face card. and then afghanistan just underscored the fact that this administration will not stand strong -- david: senator, i want to switch gears dramatically to one of -- or several of the people who have been dominated to the federal reserve board by the president, one of whom is sarah bloom raskin who you have said in the past she wants to weapon nice the fed not to kill inflation, but to pursue climate change policies. is, is her nomination out of the question now? will she receive of no votes from any republican? >> i can't imagine any republican supports this just on the policy reasons alone. she wants to go well beyond the very limited mandate of the fed and politicize it. to use the immense powers of the fed to go in and achieve her political objectives. this time they want to kill the oil and gas industry.

who knows what's election -- what's next. she's got other problems, other ethical questions that have been raised that are extremely serious, because she hasn't answered them yet. david: i wish we had another five minutes. please come back and see us again. >> good to be with you, david. david: thank you very much. well, investors keeping a very close eye on russia. stocks extending their losses. we'll have more right after this. ♪ ♪ every big idea every game changer every "how'd they do that?" starts here the blank page . .

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david: let's look at two indicators you usually look at in times of crises overseas. gold is up. you would expect that. it is about $1900 an ounce but oil is down. a lot of people wondering why that is. because probably iran talks are going on. that could unlock more oil from iran. a man who knows exactly what is going on with all the markets, joining us charles payne to take you through the next hour. thank you, charles. charles: i have a daunting task but i'm for it, david, thank you very much. david: thank you. charles: i'm charles payne. this is "making money." breaking right now the market is in disarray as investors are scattering for the exits. potential of fog of war, potential of fog of fed mess takes, fog of run away inflation. all of this as pessimism soaring. we'll cut through it all. we'll give you some clarity and point out some opportunities. i have the biggest bull on the street,