♪ ♪ ♪ larry: hello, folks. welcome to kudlow, i'm l arry kudlow.

we're live from washington, d.c. in our earpiece is in a jam-packed show, senator eric schmitt, ted cruz, donald trump has not gotten full presidential security protection. if you can believe that. house member m mikual waltz on that, i interviewed speaker mike johnson and threat of world war iii is in the air, much more on all of that in just a moment. but first, we go to fox news peter do doocy live at white house. >> we have three important sound bites for you from press briefing here. first, this is first one that we had since this second attempt on president trump's life. sunday. and there is not going to be a change from top of biden white house in way they describe president trump. >> i'll say this, president

biden has been clear eyed about the threat that the former president represents to the democracy.. reporter: president trump said that language like that calling him a threat to democracy, is the reason that people keep trying to take his life. this is something that white house officials here dispute. and they still call him a threat they insist they are trying to bring things down a little bit. >> and president has said, we need to tone that down. we need to tone it down. reporter: saying they need to tone it down, political rhetoric, and donald trump is still a threat to democracy, which is it? >> how many mo more, assassination attempts on donald trump until president, vice president and you use a different word to describe president trump other than threat. >> peter, if anything from

this administration, i disagree with the premise of your question, we have been year in con in condemning political violent from here. reporter: this afternoon i asked president biden if he thinks that democrats need stop calling trump a threat, he did not answer. larry: wow. all right. great stuff, peter doocy thank you. we appreciate it. u.s. shrugging as world wore war iii approaches, check out "wall street journal" op-ed by walter russell mead. now, on campaign trail donald trump often talks about the threat of world war iii. walter russell mead talks about a new alliance between china, russia and iran.

i would add north korea, cites reports that ukraine is is -- bleeding out and other reports suggest that over a million people have been killed on both sides of war and china threatened taiwan daily, and trying to drive philippine forces from various islandses that beijing climbs, russia may be helping iran cross finish like in race for nuclear weapons, mr. trump often cites how biden-harris administration has so relaxed sanctions he put in place on iran rnian oil that iran is now an economic and financial power house, having been virtually broke just 4 years ago. iran's biggest oil customer is china. and china and also russia's biggest oil customer, in both cases in violation of sanctions that biden-harris

administration refuses to enforce. u.s. congressional leaders, along with european union leaders, would like to seize russian central bank assets. possibly as much as 300 billion dollar worth to put real pressure on putin. but biden-harris have never pushed hard on that issue either. in a word, the current administration has practiced a foreign policy of appeasement. not deterrence, they practice it all in the world, today, as israel cleverly sabotaged thousands of hezbollah cell phone pages wounding thousands of terrorists biden-harris still won't stand up for israel, from fess or mead cites an alarms report.

commission said u.s. faces most serious, most challenges threats since 1945 including risk of near-term major war. how ever very few people in the corners of power in tcseem to be paying much attention to this gloomy report. commission found that u.s. military lacks cape capability to prevail in combat. real defense spending has been declining in biden-harris years and to decline under 3%. during reagan years, when gipper was crusade against soviet communism, he boosted defense spending to roughly 6.5% of gdp, p politics

talk about peace through strength right now with world on fire, we have neither peace nor strength that is the riff. joinijoining us now florida cond congressman mike waltz. , welcome to you on set. i interviews speaker johnson. you saw it, mike did not. i want the rest of the world to see it. play some tape. >> how is it possible what has transpired there has not been a presidential order on to give president trump full presidential protection, how

is that possible, i am outraged. >> we should be, we're making every demand that for that to happen. this secret service as you have seen reported, suggests they have a manpower shortage. look, this about allocation of resources. i'm not sure it a funding issue, but congress will be willing to do -- to do what is necessary it goes to top, you will see us demand that this week, we have to protect our 45th president, i believe will be 47th. larry: mike waltz, chad wolf heard it this morning. how is 'en to. '-- possible. trump is back on campaign trail. in michigan today, long island, new york tomorrow, we have senator rand paul, tommy tuberville on this show last night. i was in new york, they are concerned, that another assassination attempt may be made, yet, and yet, and yet, no presidential security

protection is in place for mr. trump. >> here is the it disconnect, director of secret service briefed task force last thursdays biden ordered harris and trump to receive the same level of protection. but yet, we hear that palm beach sheriff say, we have not locked it down, in the same way, that is one, number -- i have agents tolding me that there is a lot of them that would like to travel more, want more overtime, would love to surge to the president and make sure this never happens again. and then finally, you know my push back to the director was, we could pour all resources we want in there all manpower but if you have agencies that are not following protocol or leadership that is doing stupid things like leaving a high-rise building outside of a chain link fence, you have a protocol, we need assurances that has been fixed and you squeezed

efficiency you can out of your existing agency, and i think they need to did to a new model -- they need to go to a new model it needs to be threat based with foreign and domestic threats rather than you are du current president and you are former,. we need to see changes before we start pouring money. larry: chad wolf, you were secretary of dhs, can i ask you. biden saying, that harris and trump are getting same amount of protection. is that same as president biden gets? >> no. larry: that is a ph phony answer. >> sitting president getting a different security package and bubble than the vice president and certainly former presidents. i agree with congressman this needs to be threat based. president trump has a different threat picture than vice president harris, not to say she does not have

threats, just a different security and threat picture. the resources need to be allocated as such, i heard secretary mayorkas say, it say similar level than what vice president harris has. that is not answering the question, you need the same level in protection as president biden. because if president biden get to that same golf course, that perimeter is sweeped several times. >> outside. >> several times before he arrives. that is based off of just him being president. not actually threat picture against him, just that is what they to for presidents. model of service needs to be reconstrconstrucked, they are k concerned about pr precedent this puts them under when other former presidents require a

security prime min package. larry: to you think they are concerned about a third assassination attempt. >> they should be. larry: i don't know how long that holds out. whether god's work or luck or whatever. >> to president, former president paradigm, current president is not going anywhere he gro goes on rehoboth and sits on beach, i talk with agents to detail, they are ready, we never had a foreign enemy, ayatollah in iran with active and on going intelligence prove officers, and full power, trying to kill president trump. what have we heard from biden administration about iran? we have not even -- not even a condemnation or a strongly worded letter, let alone consequences for one of our enemies trying to kill, not just president trump but half of his cabinet. all of them.

it is unacceptable. this passive, nonresponse from biden and his team, talk 'a precedent. larry: chad wolf, i asked speaker johnson, if he had -- he is the speaker of the house, have you asked president biden why he has not given full protection, he said he can't get to him, if has to go staff to staff. i was shocked. i don't know maybe we'll find -- was that in the tape. my point is, these are emergencies, by wait this will damage the country, the political parties, if trump is actually wounded or worse okay. the ear was pad enough. >> wheels will come off. >> you don't need a president to do this you need secretary of dhs, all secret service. >> mayorkas could do it. >> say. >> here is what we need to do, reallocate agencies and

resources to president trump detail that could be done. larry: where is he? where is mayorkas. >> fre great question. >> i wish he would go w up p-- impeached him. >> secure the border, secure the president.. >> i did not know that dhs secretary can do that. >> they have a counterfeiting mission. >> pull him on his you know what and say -- issue subpoenas, chad wolf, and congressman mike waltz. >> on kudlow, missouri senatsep eric smith, and we'll talk about the biden harris student debt bubble and on -- more migrants that we did not know about, you can catch

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larry: joining us, in washington d.c., missouri senator eric schmitt. >> in town. larry: thank you very much last segment, why hasn't. mr. trump on campaign trail again today, in michigan, he will be in long island, new york tomorrow, still has not received full presidential secret service protection. i keep asking why. in last segment chad wolf, who was dhs secretary said something that i it not know about i'm not shire congressman waltz knew either, you don't need president'si executive order, dhs secretary may cmayorkas could do

it. >> he should do it. i think most americans are watching they can't believe this happened again, i don't know if this is a money issue. it seems to be competency at the top, on one hand praise the secret service agents on scene jumping on president trump in pennsylvania, then taking care of business on sunday. the idea that a perimeter of the not secured, and a rooftop 150 yards away in pennsylvania now, a couple holes, this guy is set up with a gopro camera ready to film this. as country this is devastating, something has to change there have not been a lot of good answers first first incident. larry: i don't understand, why we had rand paul on, senator paul last night. he is the ranking republican on the dhs oversight committee. he didn't mention this either.

you have mayorkas in front of you. just say why are you not doing it, stakes are high for both political parties. if luck ends we have a problem. it a national problem, this a bipartisan problem, american disaster. >> it is, this can't be the road we're hea headed down as a country, we resolve our differences at ballot box and free speech, not political violence, some people, even here, have memory hold first, there were some reports that president trump was perhaps denied additional secret service protection, we need to find out if that is true, if it was, is it still true, something has to change. larry: i interviewed speaker mike johnson this morning in front of a group afpi . >> i will go stand on the doorstep and stomp my feet

until he does, but they don't let me talk to the president o often. larry: not to make him look bad e or anyone but to suggest mayorkas could do it if he wanted to maybe that is why spotlight should be focused. >> they have to bring him in that committee has jurisdiction, i would hope this bipartisan. i don't know why this should be complicated or controversial. hopefully it's not. >> or change the business model, not just to resources model or a political decision model, but actually a threat base model. and the threat to trump's life is enormous. and so they should be covering him presidentially, for that. >> no out the. larry: this is not a close call, we had close calls this is not close, give him maximum protection, clearly

his life is at risk. larry: sub prime student loan debt bubble, "wall street journal" editorial, actually, i'm summarize, cbo study, nobody repays their debt, and i appeal to you, you are crusades missouri state attorney general now risenator, what is it that bidensen to understand don't understand with respect to supreme court decision saying you don't have authority to cancel student dhet. debt. >> they don't like the law, so they are choosing to ignore it. and this is just feuer politics on -- pure politics on their part, people see right through. you are right when was attorney general we brought lawsuit that went to supreme court that saved tax payers, a half a trillion dollars

500 billion, they were trying to just cancel with the stroke of a pen, you are not allowed to do that, it is unfair to truck driver and waitress who somehow have to pay for the student loan debt that the college you know thea theater professor chose not on payback, this is insulting to working family and rule of law, but they keep foing at it. larry: they attack supreme court biden and harris, so many of us they call it reform, i call it packing the court. >> they -- if they get 51 votes in senate, you know, they have house and presidency, they are on record they will add 4 supreme court justice, they will add dc to the union, and federalize elections, this is about lower and control. larry: can -- 'power and control. >> if republicans get senate back and white house. would to be wise to reverse what happened during obama

years, in effect, first, take the loans out of the education department. they don't have any understanding of credit or income. put it in the federal financing bank or a work out situation, and bring back private lending we had a private lending system and obamas took it away, they thought interest rates were unfair, and credits waspy being denied. >> more options is always good, i am that universities are used to idea there is nothing at risk for them. something las -- has to change you have a lot of degrees that are pumped out, people come out with 200 thousand dollar worth of debt they will never make enough money to pay it back. whether more transparency or universities have a stake in system matters. la. larry: pill b bill

melugin and others, additional migrants have opinion found because of direct airplane flights into the country. i don't know what the correct numbers are. this number keeps growing.. >> we're between 10 and 15 million people here illegally, that is a national security risk, when they say numbers are town now, they just changed the way you count them, that you don't include those numbers any more we used to get reports of hundreds of thousands coming in every month illegally, if you use the app, that is what that is, they don't count them any more. this is as they roll to election making crisis not like a crise its a crises. >> senator eric schmitt thank you, sir. >> coming up next, what should federal reserve do tomorrow, tomorrow is

interest day. we have michael faulkender and ej antoni then after that senator tud ted cruz on threat of world war iii. israel blowing up thousands of hezbollah cell phone pagers. how clever is that. the bidens done back israel. what else is new, i'm kudlow, i'm backing israel and we'll be right back. t diffe. (fisher investments) we are. we have a team of specialists not only in investing, but also also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first. (other money manager) but you still sell commission -based products, right? (fisher investments) no. we have a simple management fee structured so we do better when our clients do better. (other money manager) huh, we're more different than i thought! (fisher investments) at fisher investments, we're clearly different.

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larry: federal reserve meeting today, they will announce their interest rate decisions tomorrow, the world is expecting them to cut rates. joining us now, ej antoni. and michael faulkender. schoolteacher at university of maryland. faulkender, what should they do? >> we'll see a rate cut

tomorrow, if for no other reason, he promised he will do one,. larry: notice the question was what should they do. >> they should do is hold off until after the election, this is closest to election to start a rate cutting cycle. this fed already demonstrates they are political, that does not help with the fed's credibility, there is no reason to get a quarter point rate cut between now and after election. larry: why couldn't they wait until after election, next meeting saturday after, a quarter cut would not impact anything. >> i think that is spot on, you have consumer interest rates like credit cards at 30%, a quarter basis point does nothing for average american. i think you are right, it makes it look very political, it probably is. you have gold hitting record highs day after day and inflation expectations that

are not 2%, there is no reason to cut rates. >> i think inflation expectations are way down, if you look at break evens. cpi tips. but, still actual year-to-year 2.5%, target is 2%. you know it is not quite there. the numbers, i want to be honest. not political, we have strong retail sales today, we had strong industrial producproduction and manufacturing. labor market is weak and unemployment rate is rising but had is not an overwhelming case. >> it is not, we're still seeing strength out in the economy, we're not seeing that in has been a huge reduction in the ability of consumer to spend, despite record credit card debts they have and interest rates, consumers are still out strong, it does not seem they have tamed inflation, most resent report, still has us over 2. 5%.

the jobs numbers, wage numbers, still growing. over the month. and so i have not yet seen -- it is too early to declare victory for the fed. larry: you know, ej antoni tong it through -- to think it through, support fed cut rates there is a bunch of senators say lizbeth warren, and brown, i could be wrong, left wing senators want fed to cut big. if you cut interest rates but you jack up taxes, which is part of kamala harris' platform, how does that affect the economy. easy money and higher taxes means about what. >> slower growth, that means less goods and services in economy, but more money chases the goods and services, that means inflation. i think that is really just an ex extension of what we're seeing, fiscal and monetary policy are at laggerheads. they have their open form of

quantitative easing, flooding market with t-bills and changes shield curve, and undoing what powell is trying to do, making it ease year for government to borrow but makes it harder for private sector to po borrow, you get less economic growth. larry: worse case 50 basis points, or 75, fed has signaled to market they will take some act tomorrow. not end of the world. not the beginning of the world or the end. if they keep signaling we'll have big declines in rates, month after month that would be a policy change in it would, that would lower expectations long-term rates, this have a greater impact on there if is -- >> i would sell bonds, if the fed goes on an easing cycle, quarter, quarter of

or a half point, that would raise inflation particulars to me. expectations. >> back to something that ej antoni mentioned fundamental problem with that regulatory policy and tax policy are inflationary we seem to think that fed will come in solve the problem, powell needs to be able to go to congress and administration and say, i can't do this on my own, we have have stop working and conflict with each other and everyone have monetary, fiscal and regulatory policy. larry: modern monetary theory, spend whatever your keys ter wants. >> prices don't come down, what prices will come down if fed cuts a quarter. >> silence. >> that is the end of the segment, they can't. mike faulkender and ej antoni thank you.

switching gears, there is a incred able story today of, israel blowing up thousands of hezbollah terrorist cell phone pagers. fox news nate foy in live in tel aviv, if you were not so darn good i don't think that anyone would believe this story. reporter: it like out of james bond movie. international community still trying to understand it. hezbollah already promising revenge on israel after the pagers cared by hezbollah fighters blew up this afternoon, at least 11 people are killed, including a young girl, 4 thousand others injured. the explosives happened in various locations across lebanon, south of beirut, one of the explosions

happened at grocery store in beirut, pagers were a new model, that were brought in by hezbollah. the group used pagers instead of normal cell phones out of fear israel would track them, they speculate that malware would cause them to heat up and explode that led to a huge emergency response. take a look at this next video, it happened in several different locations, israel has not said anything publicly about it the u.s., and others are still trying to understand what happened here. how the pagers exploded. u.s. say it has nothing to do with this. and had no knowledge of it beforehand. now, the medical response in lebanon is all hands on deck. lebanese red cross deployed 130 additional ambulances and 500 medical workers after top israeli officials

told u.s. diplomat yesterday they are turning their atattention to northern border to deal with hezbollah. however, hezbollah leader who was a member of lebanon parliament his son is among the killed we know from iranian media that iran's ambassador to lebanon was hurt. his condition is reportedly good. back to you. larry: what an amazing story nate foy. >> joining us now katie pavlich, and ben domenech. fox news contributor, did i get it right, domenech, i have come a long way. >> so far it is fantastic, i appreciate it.

i have only been with network for 6 years. larry: i'm a rookie. what do you make of this story? cell phone pagers, thousands of people injured. i think israel -- is this is like a james bond high-tech movies. but really? this is something. >> it is something. i think hard not to laugh, i'm sorry. i have been you know sort of amused all day about this. because it is one of those things, you screw around with israel and you find out. i think won't thing that is purpose -- important this is a sign of what we're dealing with the entities go low tech to avoid the detection that is kind of consistent with threats that we've seen here in america. with the attempted assassination of donald trump they did low tech to

skirt under the radar that is paying so much attention on line. as opposed to to this stuff. larry: katie pavlich, back to attempted assassination of donald trump. we have not talked much about politics of this what are the politics of this. how do you see this? everything is al all of a sudden political. it was a great success this secret service found this guy, but probably bureaucratic failure. because they didn't have perimeter guarded and trump has not yet gotten full presidential protection are there politic here's. >> start with bipartisan nature of this, we're seeing on capitol hill, you have a number of democrats and republicans out ranged over not just one failure, with first attempted assassination of former president trump where he was shot. barely made it out of there by the grace of god. now we have second failure to find this person who was

on the golf course for 12 hours, you listen to secret service yesterday briefing media, they admit they didn't do a search of the course before the president arrived, they did a sweep in front of him. there has been outrage from democracy on capitol hill and senate, saying that dhs, alejandro mayorkas, the secretary there has not been forth coming with information. but in the media, on campaign trail, and from white house, there are politics, with last attempt, there was a second where everyone took a breath and a break. they pulled "morning joe" off the air for a morning, they didn't want to have the rhetoric go on, we have seen none of that this time. larry: ben, chad wolf, former dhs secretary told us on set, that we don't need

biden's executive order to give president trump full presidential protection, mayorkas, head of dhs could do it my bye his little self -- by his little self if he showed up. >> he is doing as good a job as this with every everything w -- else who is terrible, and unacceptable. it is bipartisan anger, all of these politicians are concerned about security in this day and age, we have seen targeting not just former president but members of supreme court and all sorts of different politicians who need more protection, they can't count on protection of secret service as it stands, it is unacceptable and can't continue, i think and responsibility administration would call for mayorkas to resign and get someone in there who can do the job. larry: help or hurt mr. trump on campaign

trail? >> i think people are focused on the economy, there are a number people who believe that this continued fight ga against him. those people have been locked in but people are focused on the economy. >> katie pavlich and ben domenech. >> thank you. >> coming up texas senator ted cruz on set, are we headed for world war iii, ia amco kudlow, appreciate it. can we talk about casual fridays? oh sure. what's up? get fast, powerful cough relief with robitussin, and find your voice. ♪robitussin♪ ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something?

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larry: welcome back to the show, on set, senator ted cruz of great state of texas. thank you. walter russell mead, "wall street journal," u.s. shrugs as world war iii approaches, your take on this in particular with israel knocking out hezbollah with crazy story about cell phone painers. >> we're in a dangerous situation, i agree with that assessment. the last 4 years, under joe biden and kamala harris, all of us know about disasters, domestically on the economy and southern border, they pale in comparison to

foreign policies, every enemy of america right now is stronger we're at greater jeopardy than we have been, problem is joe biden and kamala harris their approach to enemy of america is appeasement. communist china is now in bed with russia and putin, that is bad for america, you look at their appeasement of venezuela and iran, joe biden and kamala harris with congressional democrats flowed 100 billion to iran that is dangerous. i think we need a foreign policy that will table -- take our enemies serious. larry: one of the financiers of iran is china buying their oil and russia is china buying their oil. walter russell mead talks about china, going after taiwan daily but now after philippines and their islands, i don't hear anything from biden. >> their approach -- there is a reason that nobody goes

and studies and getting a degree from neville chamberlin school of foreign affairs, appeasement is wrong biden and hair harris do not understand is what you are weak it does not reduce the chance of war it increases chance of war it emboldened the enemies, if you are old boss donald trump were still in white house there would be no war in ukraine and i don't think that october 7 happened our enemies were afraid of donald trump, sadly they are not afraid of current c commander in chief. larry: our defense budget keeping falling, now dally 3%. -- b below 3%. ragen, spend 6.5% of gdp on defense, that is what we have to do. >> if proved a sound fiscal

investment -- we won cold war without firing a shot. in my office isr reagan, with the words tear down this wall. the stronger america is, the less likely we're to have to sensto -- send our sons and daughters to harm's way we need to invest in technology. larry: did you see dennis quaid movie "reagan." >> lived it. >> how are you doing in texas, they are throwing everything at you. >> we have a very real senate race in texas, chuck schumer has beenic little explicit i am his number one target, democrats spend over a hundred million dollars, we have polls showing it is a 2 point race, i am massively out spend, i need your viewers help, if you want sound economic views i need the

viewer to go to ted cruz .org, make a contribution, my opponent an extreme left wing democrat, his vote could record first 4 years in house 100% with nancy pelosi. voted against energy, repeatedly, he voted in favor of joe biden's ban on new permits expert liquid natural gas, you know how bad that is for jobs in texas, he has been statewide on tv for 3 months. >> 15 seconds trump taking crypto money does cruz. >> i do, i am very bullish on bitcoin. >> love it. senator ted y cruz well done, i'll be right book right -- back with my last word. kets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's

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larry: that's it for kudlow, thanks for watching, folks. - hi, i'm mike rowe, and this episode of how america works is all about the men and women of law enforcement. why? because personally, i don't think we hear enough stories