larry: hello everyone, welcome to special kudlow i'm david asman in for larry kudlow, president biden celebrated his 81 birthday

today at white house, setting a new record as oldest sitting president in american history, while more voters say that president is too old to seek a second term, the real problem is less his age than his competence. "wall street journal" ed they should put the country before the perks of office. even democrats are worried about the affect of this in coming election after some really bad polls come out, an nbc poll this weekend showing trump ahead of biden by 2 points and harvard-harris pole with trump with -- poll with trump with a 6 point gain. so far the biden team is holding fast. for more on this i'm joined in studio by charlie hurt.

washington times opinion editor, fox news contributor, a lot more hosting in your curriculum. let's start with alternatives, everyone is talking about michele obama she could get in as a lifesaver. in case he really begins to drop, more than he has, is that possible? >> i have a hard time imaging it. you have to really love -- want to be president. in order to run for president, you have to love people and politics to go through it, it is a veu vicious grueling march, she never struck me as too big of a fan of, that the alternative is a real problem for democrats, i think you look at reason we wound up with joe biden, is because, none of the alternatives were

acceptable. and you really do have a splintered party like with the republicans back to you know 2010 or tea party movement. they have been able to paper over it like barack obama everyone loved barack obama, they hated trump enough in 2020 they could get behind a guy like joe biden who does not check any of the boxes. >> and he didn't deliver what he said, he lie to american public saying he would be same old moderate democrat he had been -- >> a unifier. >> but more a moderate guy, but he took a pain out of bernie sanders -- page out of bernie sanders playbook, in many ways we was to the left of barack obama. >> if you or we spend a lot of time talking about his age, that is the least of his problem, you get to the issues, it gets so much worse from border to the economy and everything. i think that if we wiped up

with another trump/biden match, the democrats are desperate to make it a personality thing. larry: of. >> do you think that biden would ever agree to a debate with trump. >> no. >> i can't imagine. >> no e, he will try the basement strategy. >> for all concerned about his age and mistakes he makes which are becoming legend now. it really does come down to the issues. and the fact that he has not been what he promised americans he would be middle ground, good old joe there, is a different joe, joe manchin from west virginia, who was thinking of running. but he spoke out yesterday,

about whether or not he would run and why. let me play that tape. >> joe biden has been pulled so far to the extreme left, as far as liberal it makes no sense, that is not the person we thought that would bring the country together, we're in a hick of a mess, we -- a heck of a mess, we have to bring peopler, i'm not going to change it from within, i decided to go around see if i could mobilize the radical middle. >> talk about an oxymoron. does he have any chance. >> i don't think so, i think there is a tremendous frustration in politics but i don't think that more politicians. the the reason that jobe m manchin is not running for reelection he is determined he will get beaten in west virginia, so how and he suddenly the solution to the problem that people are lockiing -- looking for, i think that anyone like that, that gets into the race at

this point, only serves to hurt joe biden and probably will not do anything to hurt the morado at the gets. >> looking at polls on biden on issues, inflation, 69% disapproval is his biggest negative, outside of the border this has 64% i have seen worse numbers for him on that, on all these issues he is way down, the bs from 2020 campaign about hugh he wowould -- he would run in middle did not turn out to be true. if he does not have a memory or a cannot walk without tripping up, and he is so negative on the issue, how can he possibly win? >> i think, you know, democracies have been affect every as doing that identity

politics. i think that it is appalling and racist and terrible but it is effective. but i think that is running its course. the more problems people feel you know in their own homes at their own kitchen table the more that stuff does not work, if you have anyone saying, wait, i demonstrated i could do something about it at the border, and the economy. i demonstrated that i could make your lives better. that guy is makes your lives worse in ways you can feel, he is n not acknowledging he keeps saying it is a discount n -- disconnect between his great policies. >> but it all brings us to donald trump. question of whether or not a man who has all of these indictments going about it, god knows he may be convicted before the election can win. how are voters going to deal

with this. >> we have seen every time he gets another indictment, it makes him stronger. >> maybe a conviction would be different. i am just throwing that out there. >> and all of the logistics, womb they put him in jail, then what, do we -- i would assume that something like that would like to an immediate supreme court intervention of some sort, you -- how do you do this. >> is that really what we could be in for an emergency edict by the supreme court to get him out of jail? g? >> i'm terrified that is the pre de predicament that democrats are running for, if you think about it, that a horrible position to be in fur fur up on country -- for our country, that will not end well.

>> for those of us from free marketeers, in argentina, a guy, mile who is wild, politicians are wild down in argentina. i covered that region, they made trump look like an intravert, ♪ ♪ running an ad. [ speaking in spanish ] >> we could go on and on. literally that is what he is planning to do now, to get rid of the bloated bureaucracy, by just throwing them out.

actually, vivek ramaswamy came close to that in 7 departments like education. but do you think that bodes well for what the next president if, that is donald trump plans do to get to ddown size the government. >> i think a lot of people that supported donald trump first time were hoping that was what was going to happen. and you know, the problem is that you know, these institutions get to where they are after decades, they know how to stop -- sometime the swamp drains you before you get to drain the swamp. i think undone don i -- donald trump had einterenormous successes. but he ran up against it. but i pray in argentina, they figure it out how to drain the swamp before it drains them, if donald trump gets another shot, you know republicans do more to help him drain the swamp. >> charlie, you are

dangerous, i'm two minutes over already. >> i am sorry. >> no, i love talking to you, thank you so much good to see you. coming up president biden defense officials tell the media his iran strategy is quote, clearly not working, according to "washington post," what is happening next? we ask tennessee senator billii hagerty stick with kudlow. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative

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senator bill hagerty, former trump ambassador to japan, senator great to see you. 64 iranian attacks, hard to argue with these pentagon officials, we should say, they are spiking off the record -- speaking off the record, hard to argue that pin prick responses by the biden administration are not working. >> well, it is clear they are not working we had 4 military responses, but if you think about pow we're have in the region, we have two aircraft carrier strike groups, or cape b capability is strong, but we're appeasing iran, last week biden administration released another 10 billion to iran, they are the greatest state sponsor of terror, the biden administration removed houthis from torrent terrorist organization list they turned around and

attacked syria, that -- they just took over a japanese ship in red sea, and have 25 of the japanese sailors at hostage. david: they mislabeled that ship as -- they say all ships belonging to israeli enemy it is a bahamas flag ship is japanese members, none of the crew members were israeli. so these are rogue pirates now under iranian control, they could takeover any ship they want unless we respond. >> absolutely, but the biden administration takes them off the terrorist watch list, we should put them right back on, we have to snap to -- snap back and enforce every sanction we have in place, we have on cut off the flow of funds. >> and again, it is not a matter when we say hit iran, not necessarily with troops, not like sending forces of

marines over to iran because the trump administration proved that if you cut off their source of income, just deal with the sanctions, a implement them that is enough to stop them, not only from funding hamas eand hezbollah but from other things like hitting our bases in the middle east. >> that is the case, terrorists, they put under our bases, those are you have to shut off the river, the river is iran, they are gloflowing funds, and technology and know how to terrorist proxies, which they sponsor, this sanctions are available to us we should snap them back into place, i worked hard to put them in place when i was ambassador of japan. >> why aren't we?

>> goes to the biden administration policy app appeasement, they tried to appease iran and get back in the treacherous jcpoa that just put iran on the track for a nuclear program, released pallets of cash, jack lew now our ambassador to israel, what an iz resu -- an ian insult to israel. we had to squeeze that trickle ndred billion back to tm under joe biden that is funding this. david: we hit soleimani when shook them up in tehran. there is another issue to talk about that is whether when we look at malley, u.s. unvoy to i irk -- envoy

to iran, he was being brought up he had a left wing father, who was friends with yasser arafat. he became inofficial stepson of yasser arafat we're told here, is close to the wrong kind of people in middle east there are questions whether his fondness for iran has affected our policy, and he has been suspended, there are other people that he has brought in who are still working for the united states government and affecting our policy. >> yes, the chief of staff for this for special operations at pentagon, his chief of staff, is one of members of iranian experts. david: arian tabatabi . >> yes, this stinks to he

heavens, this needs to be brought in the open. they kent a lot of this under wraps, they didn't tell us for months that rob malley was suspended and lost his security clearances he was allowed to continue to operate without security clearances this the role of special envoy there is a huge error by the state department, i am concerned. david: i want to switch to a domestic issue. and you have a background investment, you work for vcg and other companies of note that were involved in decisions made in silicon valley, we saw a change at open a.i. they got friday they fired sam altman, a cofounder today it was announced that microsoft hired that guy head of their a.i. program. which maybe great news for most but not open a.i., i

think they will rieux that day. >> the microsoft share fr price reacted. david: up 2%, what do you think of this and overall concern that a lot of people in congress have about a.i., it does have dangers, if we don't get to the game we know that the chinese are already there. they are already going ahead as fast as they can. >> that is right. that is where i think xi jinping came to san francisco for the apec conference, wanting to negotiate with joe biden to slow down our progress in a.i. and slowdown our deployment of a.i. in military applications, you think that xi jinping will keep his side of any agreement, ask brits how that worked with hon hong kong, we need to be concerned. and make sure that united states maintains its competitive advantage in artificial intelligence. david: do you think microsoft made a good bet hiring him. >> the market agrees that was a good bet.

>> it does. bill hagerty, senator thank you very much. >> thank you. david: coming up new york city is slashing police and school budgets to offset growing cost of illegal i immigrant we have new york congresswoman claudia tenney. >> we're talking with phil flynn and art laffer when kudlow continues. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours.

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david: so because of a migrant crises that is now projected to cost new york city 12 billion billion dollars, mayor adams announced think about cuts. so what is that going to a city that is losing billions in revenue and businesses fed up with higher taxes, regulations and crime.

joining me to talk about that new york city congresswoman claudia tenney -- up state. >> it is new york. we'll compare new york as a state to florida to talk about the bureaucracy that is really the problem. just too much government. instead of firing the 6 figure middle manag managers, they are fires cops it makes no sense. >> new york government our budget is more than double florida budget, yet they have no income tax and they continue to grow, and new yorkers don't get it. aalbany government far left all controlled by democrats governor hochul, all they do is raise taxes and add more regulations and ridiculous laws, they have created the crime problem with the cashless bail. she just signed a few days

ago clean slate act that will eliminate everyone's criminal record, if you want to find out about someone, when you hire them or charging them, if they are re'repeat offender, that is going away. >> this shaping in l.a. and -- is happening in san francisco, and chicago, we have been playing the differences between new york and florida, new york has a better -- i think that is should be switched. new york has a better economy. than -- excuse me, florida has a better economy than new york and about the same number of people. the income tax -- there are more people in florida, 2 million more. >> an economy that is growing. and a government that half the size of the government of new york, we know why it is not working. is there any chance thats voters will wise up and vote in the people who could do

the right thing? >> well, voters are coming around and realizing how terrible it is the last election that were local, mostly we won a seat in bronx and city council we did well on long island, we had big wins up state, people are waking up in the local elections, but we have to change the state legislature, chip away and take back close to a madge fee or nothing will change, you have a governor that is shape shamelessly sucks up to the far best people, that is driving up the agenda. all this stuff is really harmful, they have turned it to policy, our energy agenda is -- this is impossible standard they are trying to have us meet, you will see people starve, go out of business and leave the state droves. david: they're not just focusing on stoves but now heating our home with electric heat.

which one is too expensive, a lot cannot afford it compared to gas in particular, and that we already we have our electric grids overwhelmed by what is happening they are not run properly, you have less electricity costing more. which means we'll have brownouts and blackouts. >> sh absolutely, you continue to cut fossil fuels, 60 or 70% of whom state of new york depends on some sort of fos fossil fuel, the rest is nuclear power, they're all in northern new york, right now, new york city is depending on natural gas, they consume more natural gas than upstate new york yet we can't use any of the natural resources we have, shale gas drilling in southern tier, we could do responsible gas drill

anything provide prosperity and security for our country. and actually help new yorkers that is one way to add jobs and energy, we'll not running and going our economy -- growing our economy without reliable affordable energy, without energy, you know that is important component. david: touching on biden student loan bailout, supreme court said you cannot do it he keeps chipping away at it, they are filled with fraudulent clauses. debtors are asked to self report their income, they are claiming to make less than they do. >> about 87% of americans, do not have student loans, but the program the gao saw it is 430 billion that biden was trying to forgive overturned by supreme court. but of those people, 60 million have loans, 12

million of 60 million were -- not asked to provide aian income statement or proof they're eligible for taxpayers that will put you on the loan program that i want to forgive. that shows you how irresponsible the department of education s 30 years ago we said we wanted to make student loans affordable, we turned to a federal program, college is more unaffordable now. >> claudia tenney great to see you thank you very much. >> thank you, semper fi, appreciate it. david: while price at pump may have fallen 25 cents in past month, lower gas costs could be floating, jo

joining he now phil flynn, prices are going down at the pump. are they staying down? >> i don't think they are. somebody put the fear of opec into the market today, over past couple weeks we have seen a huge speculative short position where crises have crashed, they should have come down a little bit, but a lot of people think it was overdone and today's snap back could be a sign that will happen, they fell because a lot of people thought that, p opec would not cut. on top of that everyone took geopolitical risk factors out of the market, after that report of houthi rebels seizing a ship maybe they were too optimistic that risk to supply was still around. david: but does not look

like repeat of oil embargo in 1970s, the opec nations are not looking to weaponize the price of oil, are they? >> no, they are not. there are some country in opec that call for that, mainly iran, but turned on deaf ears because they realize if they do, that it would hurt them in the long run this would create a global recession, and lower the demand for their products. at the same time, they don't like the way that market has been acting, they have been blaming speculators and the hedge funds, and i think they will send a message that they are not allowing prices to collapse, i think they will send a shot across bow by extending previous production cuts but threatening more on top of that. in time for holidays. >> it does look like visitors like traders oil traders are still pricing in a recession, right?

>> they really are. part of the sell-off that we've seen is not based on current supply and demand but perception of what may be around the corner when, sue hedge funds -- when you see hedge funds take control they see something in market that fed may not see, they see an economic turn down in future, who'll be right? we heard from a lot of fed officials who say we see a soft landing coming oil trader taking other side of that bet that will be amazing to see who wins. david: phil flynn thank you. >> w what is next? oil markets are pricing one. joining me now art laffer. great book. and a great adviser for many, many years in my life, art great to see you.

so, what do you think -- >> love seeing you david. david: i appreciate it. you look at market, we have talked about it a good day when markets perform well. stock traders are not pricing in a recession, rights? >> i don't know if they have not already priced it in now they are looking for the recovery, you see oil prices comeing down that is a clear sign of slowing of world economy and other things, interest rates have come town a little bit, inflation late a little less, they could be harbingers of recovery comings s sometimes in near future, i think that u.s. is doing pretty well given what we have right now. david: so much involved inflation and whether we have -- the president said we have jeremy siegel and other. >> he was a colleague of mine in chicago.

david: a go the rep. he said he thinks that inflation is whip. a sound bite from fed president from richmond, virginia today on that. >> i can tell you what i think, which and i see inflation stubborn that makes case for me for being high for longer, but other participantses in markets have different forecasts. >> it does seem that inflation is stubborn? >> it is, on the way down, they are not -- they have not done anything to get rid of inflation, i'll say, that there is no soundness of currency or volcker implrism, in this. they are not in place, but you have seen in latest numbers, the wholesale price index was a drop, deflation, a little bit. but, then you had consumer prices down, core was pretty good, the recent numbers

looking back 12 months. headline number, there is no reason to expect those numbers to jump up any time soon. i think we're in a lull in inflation but i don't think it is under control, a year or 4 years from now with in fed we'll have inflation again. david: we do still have another positive, we still have trump basically tax system in place, i know it will sunset in 25, but -- unless there are changes, but we have that, that is keeping part of the economy going strong. our old friend bob barley, said, one of worst kind of taxes is regulation, we have all kinds of new regulations. withs biden administration. that is not subjects to oversight most of it, not subject to oversight of congress, some is. but they have gotten away with a lot that say big t tax on business. >> it is. a huge tax on businesses

energy regulations. that has been huge tax on businesses, we should be producing a lot more oil than we do right now. we'res cleanest producers with best production. why we would let it go to venezuela and other country i don't know, that regulatory policy they have ruined the industry. there are a lots of other regulatory policies that put in place that are also doing a lot of damage. you are right. and bob bartley was right, he was the most wonderful person in world, but right now, those regulations are causing a lets of burden on u.s. economy they will for a long time to come. david: i want to turn to one everbright spots, i talked about it with charlie hurt. in argentina. i know is far away most people just zone it out when you mention argentina, it is beautiful. everyone should go there, they had an experimenting a few years back we followed. me from journal you as a an

independent economist on how to sort of dollarize, they didn't dollarize the economy but they were interested in getting rid of hyper inflation they did. they had kind of a currency board in place, instead of a central bank that work worked and the new president wants to go back to that level, he has been called a quack because of his antics, you read reuters or ap or news sites, they say he is crazy, he seems to know what he is doing. >> he does. the currency board worked. inflation stopped in argentina. i was down in a number of times, with students of mine, it was amazing time in argentinian history we had growth like mad in argentina, stable prices, the economy fluorished. they then went back with the

-- i remember being down there with famous actress came and visited i got short changed. he escorted her for the day it was fun. he was only leader in world shorter than i am. it really worked. in guy, this guy javier milei will do the same here, is not a cook, he does antics, so what, he is a chicago economist who believes in sound money, free trade, and minimal regulations, low rate broad base flat tax, he believes in all good policies government spending restraint, there is a time if you have ever made a bit, i'm making a bet today on tv, that argentina will become the outstanding pro growth economy of central and south in america in next 5 years. >> it's all about policy. >> it is going to be fantastic.

david: it worked before. a lot of country in let latin america are looking for alternatives. this guy, might turn that. >> chilly. going to dog house, reversed all of its stuff, highest performer in all of central and south america for 30 plus years, you look at plots of growth rate and you see ch chile is way above it. plan this guy will take a aand replace chile with pro growth agenda. >> coming up in u.n. has an

antiis anti-israeli track record why do we keep funds them we have senator markwayne mullin, coming up.

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david: united nations is under fire first anti-israel

bias, demanding a long-term ceasefire in gaza, critics are questioning more and more how ur u.n. is spreading pro hamas talking points and refusing to acknowledge that hamas is a terrorist organization, joining us sip senator mmarkwayne mullin, a sound bite from that great human rights activist. on fox talking about u.n. and role in the war there. >> i think that united nations has failed in, that because the united nations is corrupt as an unstution, and has been so for many decades now, they have been -- by the people who want to erase israel, what happened to young women on october 7 is not a secret, hamas paraded the women, they

raped them on the go pro camera there for the world to see. david: why are we st still funding. >> we know there has been a problem at united nations for some time, united states by far are largest funder of the u.n. by far, we had a large voice, we went most people followed us. at-this-point, the u.n. is joinings anti-semitic move. that is going on in the world. unfortunately, for them do this we need as lawmakers need to double check on what we're spending our money oare they really in for the same results that we are that means spreading democracy and peace, and making sure we speaking with one voice, down see the u.n. doing that at-this-point, i am serious when i say, we as lawmakers have to double check on where we are and

ending our dollars at-this-point. david: absolutely, you look at the information from israelis on the hospitals that under which were built the tunnels by hamas, and a lot of u.n. doctors go into the hospitals, they must have known what was going on, they did it in such an obvious fashion, when they brought in people they kidnapped from israel on october 7, they brought them into the middle of the hospital, you could see from the video cameras. there is that and also the schools that are run by the u.n., that are teaching hamas prop ga propaganda it is clear there is a rec madge between a horrible -- >> we see the leadership that u.n. continues to put out, you are right, there is no way that someone was working in that hospital or had worked in the hospital that didn't know there were fighters coming in and out.

and the same thing with the schools, they have tunnelings under the schools, we know what type of doctrine they were teaching, everyone that was living in gaza, they were not trapped it was not a ghetto setting, anyone that lived in gaza was freely to move in and out of gaza as long as t they went through checkpoints and palestinians that lived there they chose to live under hamas rule, if they wanted to move someplace else. they could have moved to israel or west bank, they lived under t the government, te terrorist organization, they knew they were building the tunnels, they could see fighters move across. they also understood that they were organization that was wanting to kill israelis. for the hospital to say they didn't know this, or u.n. to

say they did not is a joke, a slap in the face, all of us understood it. david: we don't have much time, but switching back home, president biden now saying that inflation is over. 89% of americans say this is bull, they don't believe it because they are still very much concerned. >> it is bull. david: 30 seconds. >> well, i just filled up my truck, i buy an f250, a paid 4.68 a gallon that is in oklahoma to tell me that inflation is not still available it tells you how out of touch white house and biden administration it and biden, we understand today still costs average american over 600 a month more under biden than it was under trump. he just more p propaganda coming out of white house saying don't believe what your pocket book tells you,

senator thank you very much. >> we'll be right back. manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.

david: that's all for kudlow, we'll see you tomorrow. (dramatic music) (cannons booming)