tv Kudlow FOX Business December 4, 2024 7:00pm-8:00pm EST
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wait. and for the love of god, joe biden must go. we have senator mike lee in a moment and we'll hear from house ways and means chair jason smith, senate finance committee chair mike crapo and senators m marsha blackburn. hillary vaughn what's cooking. reporter: well, president-elect trump gave pete hegseth some advice when he picked him as secretary of defense, according to pete hegseth trump told him, you have to be tough as blank. i can be say it on tv, pete is not backing down from this fight, despite unproven accusations swirling related to his drinking and treatment of women, which pete hegseth denies and points out are from anonymous sources he so
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capitol hill to make case face to face with every senator he is call kawhid for the job. >> -- he is qualified for the job. >> i spoke with president-elect trump this morning, he said keep fighting. >> you are in this all the way. >> why would i back down, i will keep fighting. reporter: hegseth fights on there are reports indicating that trump might be mulling a possible plan b if hegseth cannot win enough support sources tell fox trump continuing good good governor ron desantis as a back up, they spoke yesterday about this idea which has some republican senators today wondering who does trump want. >> i just, president, 100% he wants secretary of defense. reporter: trump pick for treasury secretary scott bbessent on the hill for
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meetings, he is expected to face questions about trump's economic plans from tariffs to bessents controversial idea of creating a shadow fed chair that could make powell irrelevant without trump having to fire powell. some republicans are skeptical about that idea. but powell is not. he was asked about it today, he brushed it off saying that's not on the table. larry: you know jerome powell brushed it off, he has not really, what do you think stir the pot, a ghost chairman of the fed? or shadow chairman of the fed? what do you think? for all i know shadow chairwoman of the fed? reporter: yeah, we don't know. i am waiting for scott bess bessent to show up, i would like his thoughts, what is interesting about powell brushing it off he does not have a say in the
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matter. not much he could do about it, he could resign which would make process easier. larry: you are the smartest one in the room you are right. not up to powell but up to trump, hillary vaughn thank you for a great reporting. >> thank you. larry: in name of god biden must go. and that is the subject of the riff. so, want to hear a scary thought, joe biden has 6 weeks left in his presidency, no telling what kind of crazy schemes he might embark on, lord knows who else he will pardon, he has brought us closer to world war iii by green lighting use of long-range missiles by ukraine deep to russia. and putin responding by lobbying his newest missiles back in ukraine like mine is bigger than yours but this is a dangerous game, and biden keeps nagging israel for cease fears, which are
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not -- ceasefires which are not in israel's interest and would help hamas biden never talks about american hostages still in prison by hamas, and 3 are reportedly still alive. then at moment biden trying to spend billions on his grind new deal climate quackery before donald trump officially comes to was, the boondoggle slush fund biden spending grants and schemes that were appropriated but not yet spent will be wiped out by mr. trump, so biden thinks he has to pony up to help his crony and donors before it is too late, another, another proposal for student loan forgiveness, illegal. latest scam would wipe out loans for individuals that education department thinks have a an 80% chance of
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defaulting, but there is no one in education department thans a thing about an income entertainment or balance sheet or creditworthiness, they merrily created 1.7 trillion of loans down through the year, house education chair virginia fox leaves this latest violation of the supreme court, decisions could cost get it, nearly 1 trillion dollars. that is right. miss fox said, about 87% of americans who either never attended college, or paid off their loans, would still be on the hook for this massive spending scheme. 87%. then rest assured mr. biden and his kang wo -- gang would love to see another million illegal immigrants come across border, they are doing all they can from
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promote it and white house cheering on sanctuary cities. plotting to stop president trump's promise to deport criminals, they will lose that battle big time, boat that -- bet on that, right now crease democrats trying to foment their own insurrection, crime rates are soaring in very sanctuary cities and states that so-called democratic restance is trying to defended, doge boys estimate that all free room, board, and food, and health care, sew self phones and debit cards, all cast tox payers 150 billion so far -- 150 billion. the very big number. all of wo world war i was 334 billion. if biden-harris were re-elected illegal immigration would have topped that.
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and 150 billion is bigger than manhattan project. bigger than 15 billion for teddy roosevelt panama canal. and all a lot bigger than hoof are's dam in nevada that powers so much of american west that cost 1 billion, 6 more weeks of number number brings to mind. the great phrase of 17 century british politician coliver cromwell. said it is not fit you should sit here any longer, you have sat here too long for any good you to been doing lately, in the name of god, go. sound advice for joe biden. right now. that is my riff. all right. on that note we'll return to that subject in a moment
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with joe concha and mark simone. just a few moments ago, i spoke to utah senator mike lee about president trump's nominees. and the biden failures and number of other things take a listen. >> we welcome back to show senator mike lee of great state of utah. senator lee thank you. happy holidays and all the rest of this. i just want to start on very concerned i should not be maybe, but, kash patel, as fbi director. i think that fbi needs major house cleaning we have to clean the stables of corruption your thinking how kash patel looks for confirmation. >> i think he is in good shape, if my view there is not a good reasons for any senator to oppose kash
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patel, he prosecuted more cases than kamala harris dmedia obsessively trashing kash patel, while ignoring the biden family enterprise. and out cider kash patel represents an intrigues candidate for spearheading reform that is badly needed in fbi, i look forward to voting for him, and encourage my colleagues, republicans and democrats to do the same. larry: you know, i persony look i am not in this process this year. but. was -- i didn't want fbi to do vetting, i lost confidence in leadership of fbi, but the senate will let fbi do some vetting. cash patkash patel i agree, he strong guy, a knowledgeable guy, i can't imagine voting against him, other one to ask you. >> before we leave kash patel, one reason they hate
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him, is because of his involvement in uncovering russia gate. larry: yes. >> positions him, uniquely to address the political basis within the fbi. and i think that is why they mate -- hate him, a lot of hate directed toward him is broad invective, they are getting at they don't like the fact he is on to them that is why we need him in there. >> that is right point, he blew whistle on russia hochoax, the other one pete hegseth, according to news this morning trump is said to petraeus fight back, he is not dumping him for anyone, you know pete well i know him well, what do you think about this story. how is it looking. >> i had a great meeting with him the other night, he spoke with me and dozen or so of my colleagues. >>y and out lined a broad
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bold vision for reform. he wants to take the deputy -- department of defense and make it about defense again 'projecting a lethal, intimidating powerful military force rather than a woke, enterprised engaged in a grand social experiment. that is why they are fighting him soy hard, that is why we need him, i expect him to be confirmed and to do a freight job of secretary of defense -- great job at secretary of address of. larry: you know, pete hegseth is a highly decorated combat veteran. serving in two theaters, for some reason, the left wing media reports don't include that. he has a couple bronze stars. and he may have other decorations, he is a total patriot. >> as he explained to us the other night, when we met
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with pete hegseth, he as a war fighter will be focused on war fighter, that is what deputy of defense is about. it is not about creating more flag officer positions. not about this social engineering experiment. he is about the war fighter, and making sure we have most intimidating lethal force. larry: senator, you will be involvinged in doge movement in senate, and i guess you will meet with vivek ramaswamy and elon musk tomorrow. expectations are running high. but i don't know elon well, i know vivek well, they are serious people they will come up with st strong recommendations and save a lot of money and cut a lot of regulations, what you are thinking? >> i'm excited to be a part of the doge caucus in senate. i am excited for meetings tomorrow, we have to keep
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doge focuses on how is it to reverse drugs modern spend, which congress, recognizes no substantive limits on federal authority that is at odds with the constitution, and two, congress that tell gates most of law making power to unelected bureaucrats it would not happen if we stuck to the constitution. and federalism, i c i think doge is a great opportunity to restore those. >> you know, senator. on that point, i know you are a constitutional scol ar, and issue of federalism, for a second, i don't know if you saw. my old friend, we work together in reagan omb, a long time ago john keoghan from will hoover institute wrote a piece in "wall street journal" showing how proliferation the unbelievable proliferation
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of federal money given to states and localities, has wrecked the budget for decades, for 30 years, this is something that federal -- this is things that noting should that federal government should be financing and running, he with startling numbers, i don't know if you saw the keoghan piece, you know you are talking about -- why can't we apply push all of the so-called grants and assistant and welfare spending push it down, gets it out of federal books, let the states and localities. and if voters down there want it fine, they may not want it. >> you know, i just left a meeting with my senate republican colleagues, we were talking about this very thing. not the article i need to
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read it, i made the point that if we followed federalism and focus on enumerated powers of congress we would not have a 36 trillion dollar debt, we would not be doling out the welfare benefits to the states. and there is a r -- reason that happens because we print money, they do not. they cannot. and that is why so many people have asked that all of these things, which, fundamentally should have been state programs not federal, they are not really within the ambit of t the en enumerated powerrings in most cases. larry: someone should put their foot down on that. last one. this is popping up left and
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right, i know that you have commented through the years on federal reserve, you mentioned printing money, fed is other printing press that no one has control over. there is talk that it is possible that president trump mig suggest a shadow federal reserve chairman or a ghost federal reserve chairman. until mr. trump can appoint his own person in 2016. do you have a quick thought on that. >> a shadow fed chairman, sir? >> you know, interesting thought. i'm not sure how it would work to have a shadow fed chairman, if that person's purpose were to advice president. i don't see a reason why anyone could object to that, unless that person vung is returning federal reserve bank, this gets to my central grie grievance with federal reserve bank there is a private for profit corporation that has been
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given immense government control authority. exit is self running there is a problem, and it is antithetical to our constitution. we're not supposed to take these things with a profound impact on public policy and our economy and render them beyond the reach of the voters of of the em electorate process that is why president trump is so frustrated. >> no one said or gave fed any mandate or legislative mandate to be nation's central planner in the economy, i don't see it anyway. senator mike lee, thank you so much, for your time, hope you have great holiday season, thanks for coming on the show, sir? my pleasure, thank you, larry. larry: good stuff from senator lee. coming up on kudlow, what if
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the trump tax cut cost nothing, wow. one re recancellation bill we will talk with jason smith and mike exr crapo, you can catch kudlow monday through friday, 4 p.m. here on fox business, if you can't, text your favorite 90-year-old and or 9-year-old, and she will show you how to dvr the show. you will never miss kudlow. (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like?
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larry: house, ways and mean chair jason smith n not happy with delaying trump tax cuts. i agree, he kind enough to join us, jason smith thank you so much. i don't get it you tell me. going back decades, first of all, has there been two reconciliation bills in the same year. >> i can tell new last 25 years, larry, there have not
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been two bills that have been signed into law. in the same year. back in 1997, you had two reconciliation bills signed into law when newt gingrich was there, that was a point they had a majority of 30 to 40 republicans in house of representatives, we have 219, to 215 majority. larry: not there, the other thing to say to you, i don't think it desirable to postpone the trump tax cuts. his working class coalition, blacks, browns, asians, whites, kids, you know, those folks want a big raise in take home pay. they lost 4% of it during the biden years, trump delivered 90% when he was -- 9% when he was president, they want that, one way to
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get it is, to cut their taxes we should be talking about that and launching when a call blew collar boom right away this year, i don't want to wait on that boom. >> that is right. larry, you see working class americans, small business owners, and family farmers that have been struggling over the 4 years of the biden administration. they have seen inflation go up 20.5% and cost of just to put food on their table, and gasoline in their cars go up, last thing, the last thing that congress should even consider is kicking the can down the road, unfortunately in tc you see a lot of politicians that they don't want to address the real problem at hand and they want to kick the can down the road, i tell you, president trump campaigned to lowers taxes for working class americans and small businesses congress needs to deliver, don't give the excuse we need to wait 6
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months. because larry, the president was specific about what he wanted to deliver, that is an extension of his successful 2017 trump tax cut and no tax on tips, and on is over time, and senior citizens. we know what 76 million americans voted for. larry: you are playing with fire, you are for closing the border, and improving energy. drill, baby, drill you are for that, better defense. it should go to one reconciliation package that is the part that i don't understand, last i looked before this story broke yesterday, senator thune wants this, scalise, was talking about a very big reconciliation bill, you were talking about a big
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bill now we'll have two bills? you are playing with fire, right? then it will expire at end of 25, and you will start january 1st of 26, guess what, a 5 trillion dollar tax hike from republican congress that and a republican senate. -- white house. >> larry it is unacceptable. let me tell if you you talk to my democrat colleagues, here in the halls of the capitol they tell you, they would love for us to attempt one to three reconciliation billings to d to -- bills tack toward the end they can see it will be difficult if we don't hit the -- out of the gates running we'll be in trouble. the house republicans, we're ready to pass the president's economic package, we have been working on this since april with hopes we would have a
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unified government. we have been over small business meetings, we can deliver, give us the opportunity and deliver what donald trump campaigned and asked for. >> is not costing a fortune, the estimates will cost 4 or 6 trillion. we'll have senator crapo on, he has been talking about the policy baseline, if you have existing policy, it will last forever, why does it have to be recalculated and repriced if on other hand if you want tax cuts, i know a lot of people in cbo that don't want tax cuts. >> i agree with senator crapo, he is right. if you look at just history, it shows when we extended bush f tax cuts we use policy baseline, this is
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current policy. if congress does not act by end of next year, every single american will face a increase in taxes. this is current policy, if congress does nothing, every american will face a tax increase. larry: that is the risk. it is unacceptable. jason smith thank you for giving us the warning bell we appreciate it. >> good to be with you. larry: all right. now continue this conversation joining us incoming senator finance committee chair, mike crapo of great state of idaho, welcome, sir. i assume you heard the chairman of house ways and means committee, jason smith, he agrees with you. there is a current policy baseline. there is precedent for it no
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reason whether it has to be priced out all over again. >> that is correct. i agree with jason we must pass this tax bill through reconciliation this year. there is a discussion about whether to go to some of president trump's other priorities like the border, energy, and defense. and whether to put in to two bills rather than one. myi issue is whatever sequencey that decision will be made by president trump. in consultation with the senate and house leadership, my focus is to be sure that when that vote happens this year, that we do it as soon as possible. and that we get a good bill put into place that will strang -- strengthen the economy again. and grow jobs. grow wages. and give people in america
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an opportunity to see increased wealth. rather than to give them a 2000 dollar per median family household tax increase. >> senator, your point is, just two issues, first, you say that they don't score spending the current services spinning baseline as a brand-new deficit increasing bill they let it go on. but they will score a current services or policy tax cut baseline all over again as a big deficit raiser, there something wrong with that. if you get -- you can either have one or other not both, there is hypocrisy here. >> that is right. there is over 2 1/2 trillion dollar of spending in our budgetary system with a current policy baseline, just assume it will grow. yet taxes, no they say you have to pay for them every year, this common sense ask americans if keeping their
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tax policy as it is today, instead of telling them that average median to low income family has to pay $2000 a year ask them if they think that the way we should address our national debt. no. it is current law we should not have to pay various taxes or do something for 4 1/2 trillion in next year. larry: all right, you said this made a lot of news. first time, we appreciate it. the "new york times" gave you a favorable write up, you have to have magic. whatever it is in water of idaho. i am to say, other thing, on tax cut, the trump -- trump won election, economy. border yes, 100%, energy yes, but he won because of the economy people want their take home pay, kitchen
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table take home pay to go up, you can't not to something about taxes, you have can't wait -- you can't wait, whatever you think it will happen. i guarantee you, you will not get it in 30 days, i'm reading about what senator thune is saying, you get a reconciliation bill in 30 days did you can -- you seen in our lifetime, a reconciliation bill that was done in 30 days, that means tax cuts conversation, are not happening that mines -- not happening and blue collar boon is not happening. >> aircraft fry with you. we cannot tom rate -- i agree with you, we cannot tolerate failure, if f president says he wants to do it in steps this is the decision maker, the question is what is the right
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strategy, i think that issues that you and jason raise are legitimate. larry: high risk, it is high-risk, a high, high, risk of las vegas gamble you could get two recon bills, including a big tax hike in 6 bill. second bill. >> larry, i understand your concern, i hope we don't face it bottom line and i'm working to make sure when the vote happens we have a great bill and stop 4 1/2 trillion dollar tax increase and give people a boosted economy to grow their available income. larry: i'm for that, i think you current policy score card is right, mike crapo thank you, sir. >> coming up sense door marsh-- next up senator marsha blackburn, a great supporter of pete
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hegseth. i'm kudlow we'll have marsha blackburn right away. with the economy and all . what's the economy? . [chuckling] where do we start? what isn't the economy? yes. [ laughter ] uh, it's -- it's so many thing. right. look, all you really need to know is that progressive can save you money without sacrificing quality coverage. you follow? i'll just look it up. hmm. that went well. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance... ♪ ♪ ...at each day's start. ♪
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larry: senator marsha blackburn. a strong supporter of pete hegseth, i am hope that is the case. you know president trump, i think gave him a vote of confidence to keep going. you may have seen pete's op-ed piece that afternoon. in "wall street journal." how do you read it? >> i think pete hegseth is doing a terrific job. he met with some of us on monday night. and larry, he was able to lay out what he would do to modernized u.s. department of defense. what he would do for 21st century warfare to put equipment and art till artillery in hands of
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the war fighter, it is pete hegseth gets it. and he is what you call a nontraditional choice. because people in dc, that are in the swamp, they want someone that is in the swamp. to be the secretary of every department. president-elect trump made wise choices having them come to the hill to meet with members, they are doing that, they are winning people over. and it is going to be up to u.s. senate to approve the nominees for appoint am for president-elect trump and i hope we're towing it on january 20 -- appointment for president trump, i hope we're towing it on january 20, senators should go immediately to claim chamber and stay there until we get cabinet confirmed.
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>> like, that you say nontraditional man, i say it's cool to be nonpro nontraditional, this is the year. >> of course. larry: the political cycle. >> you got it. it is. we need people that are entrepreneur ralial in their thought process, realize that government structure is about we the people, and it is here to serve the people, not to serve the employee unions, not to serve the bureaucrats but to be of service to the people. but larry, as you know, we got a lot of swamp creatures in this down they don't appreciate that language. larry: you know, this is just, there will be some disturbances, one thing in the op-ed piece, really very well done. pete hegseth served in iraq, then volunteered to go to
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afghanistan. i'm not sure if people know that, he volunteered to go back to afghanistan. he was highly tech rated in both -- decorated in both war theaters. they are i impugning his representation like no one in -- reputation like no one in life made a mistake, he said my lord and savior jesus christ has renewed and restored my life, i have saved by his grace. we have made mistakes, people should not be harping on that, it is his service and knowledge of the military that counts. >> right, and how military should best be organized. and pete appreciates the fact that we need to have people that not only understand the pentagon and the war fighter but also business processes, so this can be modernized.
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pete is a tennessean we proud of him. and we are looking forward to standing with him, and voting for him for his confirmation. larry: all right terrific stuff thank you senator blackburn. >> you got it. >> joining me now, on set in name of god, do, mark simone, and joe concha. in the name of g god, go, oliver cromwell said that, it is a great line, i think that americans would say to joe biden in the name of god, go, we don't know who he will pardon next, he is spending a fortune and may be lobbing bombs to world war iii.
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>> who he will pardon his family, we don't have to worry about joe biden is him slowing down. that is not possible. larry: because, he is so slow now. >> yeah. larry: i want -- that joke needed some expansion. >> continue. >> we have a january 6 coming up a day where donald trump needs to be certified. and make sure democrats let to smoothly, i think high he will have a garage sale, he left vice presidency taking hundreds of classified documentses. larry: yes, illegally. >> and l left senate taking classified documents who knows what he is packing this time. larry: if you unleash joe biden he might make canada 51 state, that is president trump. >> we could call it trump
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sylvania, we have have new mexico, new michigan or new area 51. larry: this is torture, kudlowing i suggested too trump, buy green land. >> that was you, what is the benefit. larry: strategic, minerals, china and russia want it, a beautiful place. >> is it for sale.. can you get water front property. larry: you can lease it, it is complicated danish prime minister was a left wing trump hater however the queen, a denmark run operation. and the queen of denmark wanted a vote on it and then we ran out of time. justly are now, we're out of time. >> you want what biden will do next. >> next. >> he just gave billion to rebuild homes in afghanistan people -- in africa while people are struggling here,
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he is giving more money to ukraine, he wants to war to continue. >> wiser thing ever, he is truss. very dangerous. i have to get out. okay. >> trump sylvania. >> greenland, mark simon in the name of god go, joe concha, next up, alabama senator katie britt, we want her to stay, i hope i'm staying, we'll be right back. t over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected. an alternative to pills, voltaren is a clinically proven arthritis pain relief gel, which penetrates deep to target the source of pain with nonsteroidal anti-inflammatory medicine directly at the source. voltaren, the joy of movement. to go further,
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larry: welcome back alabama senator katie britt, thank you, ma'am, cromwell said, not that he is a good guy but he did say for the love of god, go. i don't know who else joe biden will be pardoning, what do you think? >> also make sure you add blanket pardon this is just yet another broken promise by joe biden. he promised the american people he would govern as a moderate, we governed and let the far left write his agenda and promised we would be in a position of strength, we have never been
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weaker and more vulnerable, he tells american people one thing and does another, this is why we need president trump back in the white house. january 20 cannot come soon enough. we're ready to get to work and keep promises to the american people, by securing our border making their dollar go further and create opportunity for american dream and returning to peace through strength. i believe when president trump walks into the oval office, we have seen if from november 5 on, world leaders respect him, they know he means businesses and he will make sure that americans have opportunity to thrive. larry: are you backing pete hegseth for defense secretary. >> i am looking forward to meeting withpite, president pete, president trump had a mandate on november 5, american people said we want change, president trump is selecting individuals that will help him enact that, i
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am meeting with pete next week, i look forward to sitting down hearing his vision for the department, he will get department back to focused on making sure our men and women in uniform are best trained and ready and equipped, and moving forward getting defense department on track. larry: you have not made up your mind yet. >> i am sitting with him, i look forward to that and a chance to talk with him, i sat d down with elise stefanik that went well, and excited to sit down with all of the nominees, with lee zeldin yesterday, certainly, know that president trump give him that difference in moving forward, and look forward to supporting and doing my job. larry: senator katie britt, thank you could ma'am. >> folks i'll be right back with my last word.
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humana medicare advantage plans. carry this card and you could have the power to unlock benefits beyond original medicare. these are convenient plans that offer all of the benefits of original medicare, plus extra coverage and benefits. with a humana medicare advantage plan, you could get doctor, hospital and prescription drug coverage in one convenient plan. with zero-dollar copays on hundreds of prescriptions. most plans include dental coverage, including zero-dollar copays for covered preventive services. vision coverage, with eye exams and an
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allowance for eyewear. even hearing benefits, with routine hearing exams and coverage toward hearing aids. that's more than you get with original medicare. but it gets even better. because humana offers zero-dollar or low monthly plan premiums. you'll also get, zero-dollar copays for routine vaccines at in-network retail pharmacies. zero-dollar copays for telehealth visits. and zero-dollar copays for in-network preventive services. plus, worldwide coverage for emergency and urgent care when you travel. and, medicare advantage plans ensure your covered medical costs, including all doctor and emergency care, will never go above a maximum out-of-pocket amount that you know beforehand. imagine benefits like these in one convenient plan! plus, you'll have access to humana's multiple large plan networks of doctors, hospitals and pharmacies. so, if you want more from medicare, call now to see if there's a plan in your area that could give you extra coverage and benefits. including
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coverage for doctor, hospital, and prescription drugs. plus, a cap on your out-of-pocket medical costs. and most plans include coverage for dental, vision, even hearing. a knowledgeable, licensed humana sales agent will explain your coverage options. even help you enroll over the phone. call today and we'll also send this free guide. but now is the time. the annual enrollment period ends december 7th! humana. a more human way to healthcare. larry: that's it for kudlow, thanks for watching, folks. (dramatic music) - [narrator] in 1918, henry ford calls the press for a shocking announcement. - today is a monumental day, gentlemen. i'm sure you're all wondering why we're gathered here, so let's just get to it. (dramatic music)
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