larry: hello, folks. welcome to kudlow, i'm lar ry kudlow. so game, set, match, smooth sales for all of president trump's nominees, and treasury man scott bessent joined ship. joe biden does not like tech

oligarchs because they are flocking to trump. >> senator rand paul to cut spending and senator markwayne mull mullin on tell create's hypocrisy, but first up, grady trimble is live in washington, what is cooking. reporter: it is cold outside, comfortable here, i will start with trump's pick to lead treasury department, scott bessent who fended off attacks today from democrats over president trump's plans to implement tariffs, cut government spending and make 2017 tax cuts permanent. >> if we do not renew and extend, then we will be facing an economic calamity and as always, with financial instability, that falls on the middle and working class people. reporter: democrats accuse bessent of working for

wealthy, going after some of trump's guests at the inauguration. >> you have three people on top mr. musk, mr. bezos and mr. zuckerberg who are now worth almost a trillion dollars more than half of the bottom of our society. >> three billionaires who you listed, all made the money themselves. reporter: their representative hearings, trump's nominees to head of enterior diagram, burgum and epa zeldin outlined their vision for u.s. energy dominance, a busy day for bernie sanders who also sits on committee environment, he grilled lee zeldin over climate change. >> can i have your world right -- word that you will work with me to make sure solar for all program is

implemented. >> i know this is a priority for you, solar power -- >> sorry. >> that's okay. >> almost saved by the bell. >> that was the fossil fuel industry. [ laughter ] reporter: you said it, it was a smooth day overall to quote senator steve daines, trump's nominees so far seem to be batting .1000. larry: thank you grady trimble. we web t trey yingst . >> there was a cease-fire agreement in place at this time yesterday. but this morning we woke up to a statement from israel prime minister netanyahu saying that hamas went back on their terms in the

agreement, hamas denied it, we got more information about political infighting here in israel, tonight, israel's national security minister. threatened to resign from his position in the coalition take 7 seats with him if the deal moves forward, it appears that deal will move forward, and he will resign it will weaken internet's position in the government and give him a one seat majority in israel's version of parliament. knesset. that is about what is on table, and what netanyahu has to sell, today antony blinken spoke about it. >> it requires among other things, ending the conflict in gaza, which we're now on the venge of doing as a result of everything that we have put into this an agreement that president biden put forward, before the world, in may, got the world to endorse it.

reporter: you have america's top diplomat saying this is an agreement about ending war in gaza, and israel prime minister speaking with his own coalition members saying they are going back to fighting hamas in the strip once the phase of teal deal is complete. larry: when is earliest that hostages can be freed in your judgment? reporter: earliest is sunday afternoon, even if deal moves forward, it has to be voted on by u.s. israeli cabinet and a 48 hours window for supreme court to hear objections to the agreement, we're looking at sunda sun say -- is usunday afternoon earliest release, much more likely to would take place on monday. larry: thank you, ter,

thank you -- terrific stuff. scott b bessent joined other trump nominees with game, set match over democrats that is the subject of the riff. >> democratic senators threw their best stuff at pete hegseth and got nowhere, tried to bully pam bondi and she bullied them right back, and the tired old left wing democrats have gotten nowhere with their cheap shot attacks during the cabinet confirmation hearings. they are as afraid to talk policy, joe biden's progressive socialism such a dismal failure, still iny it denial about their crushing loss on november 5, many are shrinking away into the night, if looks like all trump's cabinet noms will be confirmed by new and

energetic republican senator. scott bessent was so good today, democratic members started filing out of the room way before the hearing of over, probably because they at any time have any dirt. they don't know anything about economics. but, bessent is an economic wiz, president trump called his appearance a masterful performance, it was. he is a free market supply cider, put together's storied performance as top flight investment manager for many years. he is an economy growth guy, i limited government guy and a king dollar guy. from his testimony today, i will quote, critically we must ensure that the u.s. dollar remains the world's reserve currency. scott read the riot act on tox cuts. >> -- tax cuts. >> if we do not renew a and extend then we will be

facing an economic calamity and as always, with financial instability, that falls on the middle and working close people. we will see a. >huge middle class tax increase, we'll see child tax credit halved and see the deductions halved. so, it will be what we call in economics, it has a potential for a sudden stop. larry: have you there a sustain stop potential. scott bessent also understands that trump's tariff strategy will not be inflationary he said only excess money created by or over spending by federal budget can cause long-term inflation not tariffs, but on question of tariffs -- >> american people should think about tariffs in three ways under trump

administration one for remedyinging -- for the federal ba budget, president trump i think has added a third use of tariffs, can be used for negotiations. larry: the art of the deem, and added that he will work hand in glove with russ vought as omb and he works with doge brothers to curb federal spending and stop regulatory state. >> we do not have a revenue problem in the united states we have a spending problem. that this spending is out of control. >> and also scott bessent understands need for energy dominance and unlimited

electricity to power the new economy and always subscribed from president trump's drill, baby, drill mantra. >> china will build a hundred new coal plants this year. there not a clean energy race. there is an energy race. >> an energy race. and opening statement, he said trump was the first president in modern times to stand up for american workers. and he also said, i believe that president trump has a generational opportunity to unleash a new economic golden able able age of that will create more jobs, we'll and prosperity for all americans. as i said, game, s set, match, that is the riff. all right, joining us now welcome back kentucky senator rand paul. welcome, sir, happy new year. i don't think i have seen you since.

>> thank you, larry. larry: talk about budgets and russ vought, but what about scott b bessent stuff. >> i was able to hear some of the-ing i have met with him in private, he is impressive with a broad knowledge of economics he is dead on you say inflation is a cr creation of money by federal reserve, it say creation of increase of money supply. it is not even so much prices, prices is a consequence of the inflation. and i think that with regard to whether tariffs are a good thing, you tell me you want to replace personal income tax with a tariff, you have my vote, but if you add-on what we have i think less tax is better. larry: i don't know, like that idea. i don't think that we could

pull it off. replacing income tax with tariffs, might be worth a shot. scott told me on my radio show, gist after he was nominated, on this tariff issue. that you know only excess money causing long-term inflation. that was his point. and i'm surprised -- you just echoed, more people have not made that point, wall street is involved in silly game that tariffs will be inflati inflationary. and i fear the fed does too, but that. >> the issue, too much money chasing too few goods sure, tariffs fore get about it. >> some of theme are confused about what -- some of them are so confused 'about what inflation is, they think that greed causes it, i laugh about it why are they greedy now, they were

not greedy last year this is a ridiculous notion, inflation is a creation of new money by federal reserve. it is -- money exceeding demand. larry: i had so many great interviews with your dad on this subject, back on another network that i won't have to mention, good to you have here, senator paul, play you, some sound from russ vought the incoming director of office of management and budget, and his confirmation hearings yesterday. >> president has promised american people a federal government that works for all americans. not the interest of bureaucrats. we have 36 trillion dollar in debt, our fiscal house continues to be a mess. we're now in a situation where surpassed what we spend on defense, we have to put forward budgets and spending plans, budget process needing to work again. larry: so you -- i gather you support russ vought, you

had thoughts of your own on run away spending deficits and debt. >> i think we need to cut spending, we could start with benchmark of maybe, spend what comes in. but, there is a lot maybe we might be able to ku cutt. 400,000 to study in lonely rats use more cocaine than well socialized rats and japanese quail on cocaine or more sexual. >> we're runnin run deficits. and so that is -- untenable, you said, saw a clip of you saying this, interest expense now exceeds or defense budget. nwe have a bit of a fiscal emergency. my first question to you, if

mr. trump comes in, okay, if there is money that wasapprop yeted but unspent. i think --app appropriatedded but unspent, there is covid money, and chips money, that money, and we're in a fiscal spending emergency of sh sorts, why couldn't it just be removed by the president, don't spend it. >> there is a way it call the rescission, in first trump administration they spent 15 billion back to us, but we lost two republicans who voted with democrats we were unable to cut 15 billion, the trump administration if i could get 50 republicans, myself and 49 others in the senate, we should be able to cut 500 billion. i promise if you put anyone like vivek ramaswamy or elon

musk looking at every ratchet, screw hammer and wrench there is all kinds of money to be cut, you have to lock at everything. if you send it back to us we need votes and courage, this takes congress. it will take congress, but that is not an excuse that means that everyone in land should be calling your congressmen saying, i'm watching you. if you don't cut, we're bringing you home. larry: i take is also, again from russ vought's hearings and perhaps elsewhere. you are opposed to -- authority by president, let me ask you this. this is a free speech program. you can whack away. if the president thinks he can achieve the goals of congress with a cheaper spend out rate for example, i don't know if i -- just

cheaper to do what everyone wants him to do, it might be true. but why shouldn't he impound the rift, if he could save money by getting same missions done, more cheaply, why not impound them, you know, as people have said, couple hundred years we had impound am aut ment authority. >> i have a couple questions, first, if you impound that money, where does that go, it is still all right spent in an account or not spend and at treasury, do you not draw it, that would make a difference to me, i'm not fully decided on it. in general, principle that congress controls power of purse and spends money and president executes that spending is a very important principle. we have not had a lot of it discussion about not spending it is a good debate to have about not spending money, i am open to

listening about it but not shire where money goes if it is impounded. is it sent or in limbo or uncreated. where is that money, if it actually saves money possible that that does not save money, i am for saving money, ill be open to less edge to argument on i'm p impoundment but rescission could be done with republicans, cannot be filibusters, rescission is the way to go that cannot be challenged. by golly we should be able to get a majority of republicans to cut spending, if t they can't, they should be sent home you. >> are right. one last one on impound ment stuff, where does money g i just pushed a delete money, i would not send it

over, we're not spend it we won't ask fed or treasury on borrow for it or fed to monetize it hit debate button that could -- delete button. >> i think we have to look into, that i'm -- i want find out for certain where that money goes, there will be loc legal challenges to this i have talked with legal expert say lower courts if they decide with current law, probably only way to actually have impoundment be legal to get to supreme court precedent, it possible to get revisited, i need to explore it and know what happens to money, i know that re rescission works and is legal, call your representative, tell them to plablafnblaf balance the budget, cut some spend gd or we're bringing you hope. >> thank you, senator rand

paul. >> thank you. >> coming on kudlow. game sit, match for bessent. we have david asman and steve moore when kudlow returns. stick with us. tamra, izzy and emma... they respond to emails with phone-calls... and they don't "circle back" they're already there.

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>> president trump and if confirmed myself are committed to addressing the supportability -- affordability crisis, part of that crisis steps from great inflation we had, sent -- inflation is one of the great killers for working families. larry: all right, talk about scott bessent and about taxes, joining us great dadavid asman and great steve moore. they are great. steve moore, i thought bessent was very good, hit all right spots, he wants king dollar and fact cuts and budget cuts, and walked through tariffs very well, he understands we can't have

inflation rising, pricing condit -- can't rise faster than wages, i was told by someone who tweeted democrats could not get any on him, they started walking out of the hearing. finance committee before the hearing of over, i think they are defeated on this nomination battle. >> could not agree more, a virtuoso performance, what is old saying, they didn't lay a glove on me, they are all about gotcha moments, they look for one thing you might say. i was nervous about scott, we're friends with him, he a fantastic guy, and financial wizard he is new to game of politics, this is a contact sport. they could not lay a glove on him, they tried. he was calm, i loved his demeanor and his pro energy pitch. and i'll say that his overriding theme, i thought of perfect we have got to

pass the trump tax cut extension or we'll have an economy crisis and average family will pay $3 thousand more of taxes a year, stick with that message. larry: i don't know if he said one big beautiful bill. >> unfortunately not, i think they are waiting for republicans in congress to work that out, i can say he dropped mic on bernie sanders. he said are you not worried about oligarchy, he said, i saw a couple people, that just awarded medal of freedom to were big billionaires, that shut up bernie. larry: you are in fa favor of one big beautiful bill. >>. >> of coarse. larry: we need to this year. >> we'll have one of biggest tax increases ever, we found out left wing tax policy center said 65 p% of

americans get tax cut with 17 bill, you made that just by the skin of your teeth. it would be more -- closer this time, than it was the the last time, the last time it almost bled over to 2018, that means we would get a tack increase, and republicans would be out in midterms. larry: steve moore and i and laffer wanted the fact cuts first in 2017. >> same thing happened withration railing. reagan. >> steve moore, house freedom caucus, you tell me they want to raise taxes, to finance the salt deduction, state and local tax deduction, is it -- to that i want to raise the corporate tax rate? i'm reading li li politico article. we're confused the article said that the house freedom

caucus would end the state and local tack deduction for corporations in what new york, new jersey, and california. or connecticut for a few states is that what that are are saying, you can't design tax cuts supervisor specific states that is you can't design tax cuts for specific states that is s silly. >> it is complicated, mostly right, house conservatives say, if if we raise deduction level on state and local tax, they may have to do to get votes in house, pay for it by cutt c -- putting a cap on corporate salt deduction, i think that is a brilliant idea, why should general motors get a tax cut but not allo repair shot. here is problem.

there are a number of republicans, david and i talked about it in the house, where talking actively about raising corporate tax rate to 23 or 24 or 25%. remember at 21% now. >> republicans? >> that is a terrible idea. larry: republicans? >> they want to do that. >> yes. larry: that is the dumbest thing. >> there are a few. larry: how did corporate revenues do after last tax cut. >> up from 2018, 1 58%. that is how much more tax revenue y we're getting now. larry: there is the chart. >> it now 530 billion, that say 1 58% increase if it is not broke, you don't fix it. larry: steve moore, point is, that supply side, maybe, we have to have therapy sessions with some of these

republicans. >> a priest we need a priest. larry: i didn't say confessional. >> i think some need a confession. larry: in you lower corporate tax rate, and fact something less you get more of it that includes revenues as mr. david asman just noted from actual facts, why don't they understand that that is the battle that chart, that chart should be passed around the republican conference, so they understand. there is plain i of in to worry bthey should just cut spending rescind spending cut spending. you know, even rand paul, he was open to you know prespresidential executive power to cut spending. >> well, first, we are ping that chart all over capitol hill. even to democrats second. a lot of these guys are new to the game, the three of us

live through the reagan era. we saw what happened when rates were cut and we had dramatic rate cutses we had more revenues and an economic boom, we have to reeducate them, scott bessent said it well, you cut taxes you get more revenue. >> 100%, thank you david asman and dispeef moore. steve p president trump most popular he as has been, nominees sailing through, what does that tell you about democrats we talk about it with our all store panel. monday we'll broadcast live from washington, d.c., for inauguration day. and i'm going to freeze my you know what off, my saintly wife has g gotten me long under wear so maybe it wo won't be so bad, i'll be right back.

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larry: president trump most popular he has ever b been, 52% right now. and we have liz peek, erica donalds, from america first policy en state. and em emily compagno. this first thing. whatever the numbers are, trump is very popular and his noms are i think skating through or sailing through. they could -- they had people scott bessent was so good today democrats were leaving the hearing room before the hearing was over, because they didn't have dirt on him. they threw their best stuff at hegseth, he went fine, and stuff at h pam bondi. trump, height of his

popularity great numbers, noms are sailing through, democrats are so shrinking off to the night. >> you couple that with president biden with lowest approval rating, and with his exit farewell speech, to me read almost like a to do list without a nod to any item he accompolished as dom accomplished, i think that everyone has seep seen tide is turning, and the fact that president biden had nerve to say is that a joke when asked about hamas peace deal, that shows how out of touch they are and hubris he continues to colclicling too, and jill biden saying, i can't believe i discovered

human nature and betrayal of nancy pelosi. larry: liz, you didn't think of the biden's speech. >> it was awful, so self -- i never have liked his spe speeches, they are full of puffery, what is he talk about last night of the weird, he got into this whole them about oligopoly and oligarchs, he is afraid of so membership things, hard to remember, we're afraid of climate change but we're afraid of elon musk. i think that is it. and fact that whole tech community has rallied around donald trump, this is astonishing. larry: he is just freaked out because techies are leaving the democratic party. they are moving to trump, led by elon musk, that is right., erika, on this oligarch

thing, i like them myself. he gave the presidential medal of freedom, such a hypocrite, to two oligarchs, one of them george soros, and other david rubenstein. two multimillionaire oligarchs, so, he is such a darn hypocrite, he had nothing else to say, i think hehis speech writers have already left the building. >> that was -- >> i. >> really, it was -- his content is always bad, he lies, he a hypocrite, even his speech writers left. >> not only hypocrisy we heard from joe biden, he said social media had given up on fact checking, it is not fact checking they gave up on but the government fact checking and elimination of spree

free speech, potting show american trust community notes whatx is doing now, and what meta is turning to more than they trust the fact checkers because joe biden and his administration were suppressing free speech, contrast with what president trump has been doing since november 5, he has been giving press conferences talking to american people and transparency about we he will do and appointed wonderful nominees, who are well qualify and diverse, thethey -- represent a wide scw swooh th of americans. and he opening himself to these people who are coming to mar for mar-a-lago and bringing them into fold for the golden able of america that is coming. larry: i love, that scott

bessent, use that the term, on the economy, emily, also, interesting, hegseth was the lead, they threw their best stuff at him, it was all personal stuff. uncocorroborated, anonymous sources, pea pete hegseth passed, and i think that deflated when i saw as a coordinated democratic attempt to take his chop his head off first then go down the line, like dominoes, they failed to hegseth he had too much good policy. then i think, pam bondi finished off the democrats, she delivered the final punch, kind of like a third round tko. >> i love that, i agree, i thought pete hegseth was

phenomenal, i don't think i have seen such a resounding slay, we was armed with facts, and he incredible communicating skills and he stuck to his tracking points, he did not deviate, you read the transcripts in black and white there is no fluff, i think that the mask was revealed to how vapid and belove belt their attacks were, yes, it deflated them and em emboldened the other nominees we we'll -- they will attempt, but, they will succeed flying colors it goes back to strategy of matt gaetz, he was the largest beast they were going to attempt to take down, with him gone it was pete. >> you have to ask yourself, is this helping the democrats to have this

unbelievably nasty personal, attacks on pete hegseth. >> that is it. i love this, the average viewer, if anyone is following these, looks at that and says, what? what about policy? what about future of america? >> what about substance.. larry: our defense and security our border and economic growth and inflation rates, that never comes up. >> these hearings are meant to put these people to the test. on what do you do about this and about failing audits of year at pentagon, but instead of this, woke stuff, i just really feel they are out of step with what american people want right now. larry: this is a d death of woke? >> you have to ask yourself, they won't talk about november 5, they are denial, but did woke die? did personal attacks phony personal attacks die, i have

30 seconds. >> i agree, that they are not doing themselves any favors, but also, they are doing the republicans favors with republicans who may have been on fence with confirming them, how would it like mr. murkowski to align themselves with democrats after that ridiculous show t put on. i think that they have pushed the other republicans on side of con firsting a, confirmation. larry: they buried woke, thank you democrats and thank you. liz peek, erika donalds and emily compagno. >> to last of kudlow, we'll talk with senator markwayne mullin about timcratic hypocrisy -- democratic hypocrisy he has manage to

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brings up fact, what happens in you show up drunk to your job, how many senators have showed you up trunk to vote at night. have you asked them to step up to from their job, don't tell me you haven't seen it, because i know you have how many senators do you know have gotten a divorce for cheating on their wives, did you ask them to step down, you hold yourself to higher standards, yet you have a big plank in your eye. we all make mistakes, i'm here and not in prison because my wife loved me too. larry: love that lesson taught by oklahoma senator mmarkwayne mullin, thank you for that. people everywhere have talk period what you said. by the by, i'm part of the club, my saintly wife saved

me from jail or worse like 3 decades ago, you gave a lot of hypocrites a good spanking. >> you know, it is th was frustrating i'm the last one pone to point out to be on moral high ground, i am not a great guy. but, you see jennifer, he calls jennie, every time i use jennie i feel that i'm talking to "forrest gump," you see jennifer, watching her husband she knows the faults he had and loved him through it, they have worked out theirti differences, they truly love each other, watching her husband get assassinated from individuals that are no better than any of us. and i know if that was my wife, kristi sitting behind

me, she would' someone to defend me the same way, it of the just, frustrating to me, i think it did need to be said. and it took a lot of the i don't want to say steam out of room but a lot of the personal attacks out of the room, only person that got testy was tammy duckworth. larry: i think it did take is time out, i thought hegseth gave a great% performance on policy issues, he took the high road. he has been on this set, and -- so forth, and i think senator mullin, we don't have a lot of time. i need to spend more time with you this year, republican nomination, trump nominations, they are doing well. hegseth to some attend pam bondi i think put everything

on high road, looks like they will get 100% passage. >> absolutely pete hegseth. the way he took oncoming fire and c calm, collected and cool headed will tell you what type of leader he is, president trump said let's go with pete first, people said rubio and ratcliffe, let's get wins. and to trump's fashion he said no, we'll going right into this with pete up first. i am confident he will handle himself under fire. wild win this vote and we'll win this vote and everyone else will sale through, he was right. president trump has been able to get elected twice, he is strategically smart and he knows where to apply pressure. >> senator markwayne mullin we'll see you soon, thank you so much. >> we appreciate it. >> thank you. >> be right back.

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