on in the middle east would be belter and going on and resource to come in for the companies and i have a large position in liz: thank you for being here. >> nice to be with you and hope everything turns out well and i am wrong. liz: this is america. we always make it through. >> well, nobody ever got rich being short on america. i basically think that we're -- we have a 23 times earning full evaluation. liz: lee cooperman. wonderful to have you. thank you folks for joining us for a very big day. red for the dow ask s&p. the markets in a narrow trading range. tomorrow the big fed decision can't miss the final hour.

larry: hello, folks. i'm larry kudlow live from washington dc. we have a tight show. donald trump still has not gone full presidential security protection if you can believe that. house member mike walz on that and interest rate meeting tomorrow and i finished speaker mike johnson down here and the threat of world war iii is very much in the air. much more on all that? just a moment. first up, we go straight to fox news peter doocy live at the white house. peter, what are you cooking? >> larry, we have three important things to play for you from the press briefing here at the white house that wrapped up. first of all, this is the first one since the second apparent ateam from the biden white house in the way they describe

president trump. >> i'll say this, president biden has been clear eyed about the threat that the former president represents to our democracy. reporter: president trump says calling him a threat to democracy is the reason people keep trying to take his life. something that white house officials are disputing and they're still calling him a threat, they insist they're trying to bring things down a bit. >> they need to done it done and president trump is a threat to democracy. which is it? the president and vice president and you pick a different world to describe trump other than trump. >> peter, if anything from this administration, i actually

completely disagree with the premise of your question. we have been very clear in condemning political violence from here. reporter: i asked president biden if he thinks the democrats need to stop calling president trump a threat. he didn't answer. lauren: peter doocy, thank you. world war ii i approaches. that's the su subject of the ri. a foreign policy professor walter russell mead. titled, u.s. shrugs as world war iii approaches. on the campaign trial, donald trump often talks about the threat of world war iii. i hope as many voters as possible listen to what he's saying. walter russell mead talks about a new alliance between china,

russia, and iran. i would add north korea as well. professor mead reports that ukraine is bleeding out and other reports suggest over a million people have been killed on both sides of the russia and ukraine war. then, china threatens taiwan on a daily basis. and is trying to drive philippine forces from various islands that beijing illegitimately claims. iran helping russia across the finish line if the race for nuclear weapons and biden harris administration relaxed sanctions he put in place on iranian oil and aran is now a -- iran is a economic and financial power house having been virtually broke. just four years ago. and iran's biggest oil customer is china and both cases in sighlation of sanctions of biden

harris administration refuses to enforce. and meanwhile u.s. congressional leaders along with european union leaders would like to seize russian central bank assets possibly as much as $300 billion worth to put real pressure on putin. biden and harris have never really push hard on that issue either. in a word, the current administration practiced foreign policy of appeasement and not deterrence. they practiced it all around the world. even today as israel cleverly sabotaged hezbollah and biden is harris won't unequivocally stand up for israel and professor mead cites alarring report for the bipartisan commission on the national division strategy, which paints a devastating picture of political failure,

strategic inadequacy and growing american weakness in a time of rapidly increasing danger. the commission says the u.s. faces the most serious and most challenging threats since 1945 including the risk of near term major war. the powers aren't paying much attention attention to this gloomy report and the commission also finds the u.s. military lacks the capables to prevail in combat and justice for inflation declining in the biden harris years and share of gdp, defense spending is now protected to decline well under 3%. during the reagan years and gifford crusading during the cold war, he boosted defense spending to roughly 6.5% of gdp.

politicians of all stripes and often talk about peace through strength. right now with the world on fire, there's neither peace nor strength. that's tonight's riff. we have florida kongman mike walz and member of the house assassination attempt probe and my pal chad wolf former dhs secretary and executive director of afpi welcome onset. just us kids here and great to be with you. here's a part of that interview coming up. play some tape. >> how is it possible what has transpire that had there's not been a presidential order to give trump full presidential

protection? how is that possible? i'm outraged by this. >> we should be outraged and we're making every demand that -- for that to happen and the secret service as you've seen reported suggests that they have a manpower shortage. this is about allocation of resources and not so sure it's a funding issue and they're willing to do what's necessary and it goes all the way to the top. we've got to protect the 45th president that will be the 47th. larry: okay, gentlemen. i'll begin with you, mike walz. how is it possible? seriously, trump going back on the campaign trail to be in michigan today and long island, new york, tomorrow. we had senator rand paul, senator tommy tuberville on this show last night and i was broadcasting in new york as usual. they both are very concerned that another assassination ateam may be made and yet, and yet, and yesterday no presidential

security protection is in place for mr. trump. >> the director of the secret service briefed the task force lassoed that biden ordered both harris and tram top receive the same level of protection. a lot more to surge to the president and make sure it never happens again and finally my bush-back to the director was we can pull all the resources we want in there, all the manpower we want but if you have agents that aren't following protocols, if you have leadership that's doing stupid things like leaving high-rise building outside of a chain link fence, if you have a protocol and state of operating procedure problem, we need assurances that's been fi fi fid

number two you squeeze all the efficiency you can out of existing agency and three, they need to go to completely new model and needs to be threat based with tornado and domestic threats rather than you're the current president and you're the foreign and treating trump like jimmy carter in terms of size of detail is unacceptable. we need to see changes before we pour money in. larry: chad wolf, you're the former secretary of dhs. what congressman waltz said at the very beginning, biden is saying that harris and trump are getting the same amount of protection. is that the same of president biden get s? >> no larry: so that's a phony answer. >> sitting president get as different security package and bubble than the vice president and certainly former presidents. i agree with the congressman and needs to be threat based.

evidence of infection heard secretary mayorkas say it's a similar level than what vice president harris has. that's not answering the question; right? you need the same level as protection as president biden and president biden goes to the same golf course and that perimeter is sweeped. several times. larry: the outside too. larry: inside and outside several times before he ever arrives. that's based off of just him being president and not actually the threat picture against him and that's what they do for presidents and the model of the service, particularly now and trump is different, needs to be retracted. they are very regmented and i love all the agents out there and they're great. leadership is very regment in how they look at this and they're concerned, they haven't hold me but i know this and they're concerned about the precedent this then puts them under when other former

presidents are doing. >> part of it is progress and trump survived too and i don't know how long that holds up and god's work or more and it's former president kind of pair dime and seemed to be stuck in and current president going to be going anywhere. they're going to go to rehoboth and sit on the beach. what have we heard from the biden administration about iraq. stronger letter for them and enemies going to kill and not just having it and pompeo and a

buy in and all that and nonresponse from biden and his team and talk about a precedent and what is that? larry: chad wolf, i asked speaker johnson if he had -- he's the speaker of the house and if he'd ask president biden why he hasn't given full presidential protection to mr. trump. he couldn't get to him. has to be staff to staff. you heard it. you were sitting in the front row and i was shocked at that too. maybe we'll find, was that in that tape? maybe we'll find where he says that. but my point is. if trump is wounded or worse, okay, i mean, the ear is bad n. >> you need the secretary of dhs and all the secret service directors. say, hey, here's what we need to

do and reallocate agents and sours from president trump's detail and done before the party. larry: i haven't seen him in years. where's mayorkas? >> great question. i wish he'd go. we impeached him. >> playing cards or bridge. larry: tennis match. >> security the board, secure the president. dhs secretary can do it. there's no counterfeiting mission. as lon as you know what in front of the hearing and say point-blank. >> issue the subpoenas. larry: yeah, thank you, congressman, mike waltz, thank you very much. appreciate you both. coming up on kudlow, senator eric smith weighing in on the same topic. i really learned something here. i did not realize the dhs secretary could do it on his own. that's fascinating and we're going to talk alaska the biden harris student debt bubble and talk about 1.3 more migrants that we didn't know about. my goodness.

folks, catch kudlow monday through friday at 4:00 p.m.. if you can't get us at 4:00 p.m., text your favorite 9-year-old and she'll show you how to dvr the show and you'll never miss a thing want i'm kudlow, be right back. ♪

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larry: all right, joining us onset in washington dc. eric smith. >> great to be here in person. larry: the last segment, why hasn't -- mr. trump on the campaign trail again today in michigan, be in long island, new york, tomorrow and still hasn't received full presidential secret service protection. i keep asking why. in the last segment, chad wolf who was dhs secretary said something i didn't know about. i'm not sure congressman waltz knew either and that is you don't actually need president's approval or executive order that dhs secretary mayorkas could do it, but he hasn't. so now what's your take on that?

>> he should do it. he has pretty good authority and i think most americans are sitting back watching this and can't believe it happened again. i done know if it's a money issue but seems to be a competency issue at the time and we'll praise the secret service agents on the scene and jumping on president trump and now this guy is set up on a geopolitical pro and ready to fill and will devastating for loss of life for trump and somethings that to change and we have to hammer for answers than one too. larry: rand paul is the ranking dhs secretary on oversight and

he mentioned this either. you have mayorkas in front of you and point-blank saying why didn't you do this? the stakes are high for both political parties and the country will fall. if providence or luck, you know, ends we've got a problem and it's a person disaster and it is. >> this can't be the road we're heading down in this country and resolve the definitionses and dd there were some reports that president trump was denied extra secret service protection. the risk is too high if that's the case.

>> they don't let me talk to the president very often. larry: i'm sorry. not to make him look bad or anybody look bad but to suggest mayorkas could do it if he wanted to and maybe that's where the spotlight should be focused. >> yeah that, commit highway tee has jurisdiction and here in the senate. i would hope this is bipartisan and no reason this is a partisan endeavor and two candidates candidatesrunning for presidente was the president before and deserved this kind of protection. i don't know why this should be complicated or controversial. hopefully it's not. larry: or change the business model, not just a resources model or political decisions model but it's a threat-based model and clearly the threat to trump's life is enormous.

larry: the subprime student is one of your favorite. but the subprime student debt bubble wall street editorial just a day or two ago actually basically i'm going to summarize, cbo studies, nobody repays their debt. that's pint number one. number two, you're a crusading state attorney general and a crusading senator and what is state queens that biden doesn't understand with respect to the supreme court decisions saying it doesn't have the authority to cancel student debt? >> well, they don't like the law and they're ignoring it and this ure politics and every election year, we brought the lawsuit and went to the supreme court and saved taxpayers a half

a trillion doll harass. $500 billion they were trying to cancel with the stroke of a pen. you're not allowed to do that . it's also abundance fair, larry, to the truck driver and waitress to pay for the student loan debt that the college theater professor chose not to pay back. it's nuts. it's insulting the working families and rule of law. larry: and they attacked the supreme court. biden and harris both attacked the viet supreme court, and so many of them lurking behind that attack and reform in the court but i call it packing the court. >> if they get 51 votes in the senate, larry, and they'll add four supreme court justices and add dc to the union and federalize elections and it's about power and control. larry: if the republicans get the senate back and get the white house, wouldn't it be wise

to reverse what happened during the obama years in effect first of all take the loans out of the education department because there's no understanding of credit or new mexico and that's not what they do. put it in probably the federal financing bank or some workout situation and b, bring back private lending and we used to have a private lending system and the obamas took it away and thought the interest rates were unfair and credit was being denied. what's wrong with a private sector approach? >> i think the universities quite frankly have gotten use to the idea there's nothing at risk for them either and something has to change here, this dynamic and there's a lot of degrees that are being pumped out and people come out with $200 tow worth of debt and -- 200,000 worth of debt and they'll never make enough to pay that back. i think transparency matters. larry: last one, bill melugin and others, 1.3 million

additional illegal migrants have been found because of the district airplane flights into the country. i don't know what the right numbers are. 8 million illegals+ 1.3 million direct flights but it's growing and growing. >> they done include the numbers anymore and we used to get reports of hundreds of people coming in illegally. using the app, it doesn't get counted anymore. this is a way that as they roll into the election and make it look like the election and know it's a crisis. larry: thank you, eric schmitt. great state of missouri.

tomorrow is interest rate day. we have michael faulkender and ej antoni and right after this, senator ted cruz and this sun believable. thousands of hezbollah cell phone pagers and how clever is that. no question biden won't back israel. what else. i'm kudlow, i'm backing israel. we'll be right back. investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes.

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larry: at the meeting today, they will ainterest rate decisions tomorrow and we have ej antoni and michael faulkender and former assistant secretary of treasury schoolteacher at university of maryland. faulkender, what should they do?

>> i think we'll see a rate cut tomorrow for no other reason than he's propsed he would. larry: the question was what should they do? >> hold off till after the election. this would be the closest to election start of rate cutting cycle this fed demonstrated and they're political and reinforcing that doesn't help with the fed's credible. there's no reason we need a quarter point rate cut between now and waiting until after the november election. larry: why wouldn't they wait till after the election? >> a quarter point not imaccount wow.ing anything at all for many, many months. >> that's spot on. when you've got consumer interest rates like credit cards at 30%, a quarter basis point will do nothing for the average person who's drowning in credit card debt right now. i think you're right. it makes it look very political and probably is very political.

there's no reason to cut rates when inflation is still high. larry: look at break evens and so called cpi tips, break evens. but the actual is 2.5% and target is 2%. it's not quite there. the numbers, i want to be honest and not political and strong retail sales today and strong industrial production in manufacturing today and labor marmarkets are rising and unemployment is rising and it's not an overwhelming case given the election year surroundings. >> it's not and we're still seeing strength in the economy and not a huge reduction in the ability to spend and despite the record credit card debts they've got and interest rates they're seeing and consumers are out there strong and so doesn't seem like they've obtained inflation in the recent reports over 2.5%

and jobs numbers and wanes numbers are on one month and it's entirely too early to declare for the fed. larry: think this through for a second and feds cut rates and elizabeth warren and sharon brown, i could be wrong and left wing senators want the feds to cut big like 50 or 75 basis point. if you cut interest rates, but you jack up taxes, which is part of kamala's platform. how does that affect the economy? easy money and higher taxes means what? >> slower growth and less goods and services in the economy. more money chasing those goods and services, which means inflation and 24 is an ex-typings of fiscal and monetary policy and it's conducting form of quantitative

easing and flooding the market with d-bills and changing the yield curve dramatically and essentially she's undoing what powell is trying to co. it's making it easier for the government to borrow and harder for the private sector to borrow and harder for us to get capital in the private sector, there's less economic growth. larry: 50 or 75 much the fed has signaled to the market they're going to take some action tomorrow. all right, okay. it's not the end of the world. not the beginning or end. if they're signaling, there's big declines in rates month after month after month. that would be a real policy change. larry: i would sell bonds. if the fed goes on easing psychoand will quarter, quarter,

quarter or worse they're inherently inflationary and the fed will come in and solve all the problems and powell needs to go to congress and the administration that i can't go in on my own and everybody have monetary fiscal and regulatory policy going in the same. larry: prices won't come down in the fed cuts a quarter of a point. >> silence. larry: they can't say anything and i can't say anything. mike faulkender and ej antoni.

thank you very much. switching gears, there's an incredible remarkable story today, israel blowing up thousands of hezbollah cell phone pagers. not going to believe this story. fox news nate foy is live from tel aviv. nate, if you weren't so darn good, i don't think anyone would believe this story. reporter: yeah, it's like out of james bond movie, larry. international community is trying to understand it and hezbollah is promising revenge on israel after you mentioned these pagers carried by hezbollah fighters spontaneously blew up this afternoon and according to lebanon's health minister, at least 11 people are killed include ago young girl and 4,000 others at least are injured and these happened in various locations across lebanon, south of beirut. take a look. one of the explosions you see

here happened at a grocery store in beirut. the pagers exploded with a new model officials speculate that malware to heat up and huge emergency response across the country and take a look at this next video and explosions happened in several different locations so far zeldon reel hasn't said anything publicly but the u.s. and others are trying to understand exactly what happened here and how the pagers exploded and u.s. says it has nothing to do with this. it had no knowledge of the incident beforehand and now the medical response in lebanon is all hands on deck. take a look at this next video. lebanese red cross deployed 130 130additional ambulances and 500 medical workers as part of this

after top israeli officials told the diplomat they're turning their attention to the in orderer border to deal with hezbollah. we know that hezbollah's leader is not among the people injured and hiss son is among the killed and we know from iran's media and the ambassador to lebanon was hurt as a result of the explosions and his condition is reportedly good and he is expected to survive. back to you. larry: what an amazing story. nate foy, thank you very much. please be safe. folks, katie pavlich and editor and editor in large for the spectator world and fox news contributor >> going for the

network for six years and going for that eventually. people have been injured and israel, this is a bit like a james bond movie. larry: it's a high-tech movies they show but really, this is something. >> it is something. i think it's hard not to laugh. i've been amused all day about this simply because it's one of those things where you screw around with israel and you've got another thing coming. larry: exactly. >> i think that one of the things that is important about this though is that's a sign and it was consist with all the threats in america as well and coming to attempted assassination of donald trump and they go low tech in order to

skirt under the radar that was up and paying so much attention to what's happening online. opposed to paying attention to this kind of thing. larry: katie, i want to come back to the attempted assassination of donald trump. we haven't talked much about the pompeo ticks of this. what are the politics of this? how do you see this? everything is all of a sudden political and trump has not getten full presidential protection. is this political? >> they're outraged for the first attempted assassination and he was shot and barely made it out by the grace of god and moving his head by a second or he'd have been killed. now there's a second failure to

fine the american on the golf course for 12 hours and listen to the secret service yesterday briefing the media and they admit they didn't do a before the president got on and dhs, alejandro mayorkas has not been forthcoming with information and trying to investigate this and resources cutting that bureaucratic tape getting them what they need to do their job. in the media and on the campaign trail, and even in the white house, of course there are polpolitics and the last attempd assassination and there was a second where everybody took a breath and a break and pulled morning joe off the air for an entire morning and no vitriol or rhetoric. we didn't have that this time around.

larry: mayorkas could do it by e place. >> that's a good job and he is with virtually everything else and terrible and unacceptable. it's easy to apparently get close to the former president as it is to cross the boarder and something that's unacceptable and frankly it's bipartisan anger and katie pointed out and all of the politicians are concerned about security in this day and age. and we've seen the targeted of the former president and members of the scream court and we've seen the targeting of all sorts of different politicians that clearly need to have more protection and they can't even count on the protection of the secret service as it stands and it's unacceptable and can't continue and coming to the ramify cases of this, i -- ramifications and any responsible administration calling for mayorkas to resign and get somebody in there to do the job.

larry: last word, help or hurt trump on the campaign trail? >> focus on the economy. i think there's a number of people that believe this continued fight against him whether it's with the rhetoric or these assassination attempts and those people have been locked in and people are focused on the economy. larry: katie pavlich and ben domenech. nice to be here as always. coming up, folks, senator ted cruz here onset. big subject today. i'm kudlow, be right back. appreciate it very much.

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the southern boarder and pale in the disaster of foreign border and national security. every enny is stronger and greater jeopardy than we have been and the problem is joe biden is kamala harris' approach to enemies of america is appeasement, appeasement and communist china gotten in bed with russia and putin and bad for america. look at all their appeasement and joe biden is kamala harris and congressional democrats flowed $100 billion to iran and that's profoundly dangerous and we need a foreign policy taking our enemies seriously and invest in this country. larry: one of the financiers of iran is china buying their oil and iran is china buying their oil.

i done hear anything from biden on this. >> they're approach and getting a degree from the school of foreign affairs and apiecement is catastrophically wrong and the -- appeasement is catastrophically wrong and biden is kamala harris don't understand is increasing the chance of war and elmore boldens enemies and admire ronald reagan and i agree with president reagan's peace through strength and if your old boss, donald trump, was in the white house, there would be in war in ukraine and i don't think october 7 happened because our enemies were afraid of donald trump and sadly they are not afraid of the current commander in chief, and they're emboldened. larry: our defense budget keeps going in real terms as share of gdp and now formed below 3% and reagan, to use the benchmark during the cold war as he crusaded against soviet union and communism, that's 6% and that's the kind of thing we have to do if we are to protect

ourselves. >> it proved incredible sound fiscal investment and won the colder war without fire ago shot. you know in my office, the dominant feature is a painting of reagan standing in front of the gate with the words tear down this wall. the most important words any leader uttered in times and the stronger america is, the less likely sending sons and daughters into harp's way and we need to invest and invest in technology and it's phenomenal. larry: i love it too. >> go see reagan. larry: you you doing in texas? i know they're throwing everything at you including the kitchen sink. >> we had a real senate race in texas. chuck schumer is ex- explicit impaired loudness his -- i'm his number one target and i'm being massively outspent so what i say to your viewers is i need your help. if you want sound economic views and you want to defend america and want to secure our border,

then i need your viewers to go to t tedcruz.org and make a contribution. my opponent is extreme left wing democrat and voting record in the house was 100% with startups and nasdaq seizure disorders pelosi. voted against -- nancy pelosi and voted against energy and voted in favor of joe biden's ban on new permits to export natural gas. you know how idiotic that is and bad for jobs in texas and he's been statewide on tv for three months and i need folks to go to tedcruz.org and support the campaign. larry: trump is taking crypto and does cruz? >> i do. i take bitcoin. i'm bullish on bitcoin. larry: love it. senator theque. that's a terrific take. well done, sir. i'll be right back with my last word. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants?

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larry: if anybody can find them, it's dhs secretary alejandro mayorkas and pull the trigger of their dream and put on a full presidential protection and he can pull that lever and give mrl protection. get mayorkas to do it, put him on the hot seat and liz macdonald will take it from there.