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tv   Kudlow  FOX Business  February 18, 2025 7:00pm-8:00pm EST

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larry: hello, folks. welcome to kudlow, i'm l arry kudlow. elon musk and doge trying to clean up government fraud, now including social security. you won't believe the numbers, left wing judges cannot stop them, they are legitimate government employees, and dmeut annuity annuity. >>-- newt gingrich on that in a moment. art laffer, steve moore will tell us why congress needs to do it make trump's tax cuts permanent. by the way. is eric adams making it in new york in we'll ask joe concha and mark simon, peter doocy is live at the white house. reporter: we're waiting to hear about whether a federal judge is going to slowdown doge's effort to get
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information. democrats will not be able to claim a victory. >> temporary restraining order put in place when judges look at actual facts, it is temporary, that is what they are referring to as winning, they are not winning. once they go off, judges have seen there is real fraud, we're not doing anything wrong. reporter: president trump and his team talk about waste, fraud and abuse in crosshairs of doge, democrats argue real waste fraud and abuse is by billionaires here, helping billionaires et c elsewhere. >> we're standing up against this effort. reporter: doge is getting access to the irs's integrated date retrieval system, musk needs to to understand duplicate
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payments and claims this is losing him friends. >> i was at a friend's birthday party, a dinner, it was a nice quiet dinner it was nice. then i mentioned -- before the election, i mentioned the president's name, and it was like they got shot with a dart in the jugular that contained methamphetamine and rabies. reporter: acting head of so social security administration steps down, she has been head since january 21, trump's second day in office, and remember, this is an agency social security where elon musk claims that there are people who are over 150 years old long dead, born in 1870s, still receiving payments tthat is something that some coders, are disputing, they don't think that doge engineers are reading code right. but, elon musk is one with
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the president's ear, he is the one that president wants looking at this. and it will come out at some point, just is getting a little bit slowed down with these lawsuits. larry: i'm looking forward to 150 years, getting my social security check, you might make it -- >> only 150 years old they need the social security checks. >> we don't know what, it is interesting point. peter doocy thank you. >> to capitol hill, fox news chad pergram is joining us live, what is cooking? reporter: good afternoon, senate republicans aim to move their budget plan tonight, sets a framework for border security, the wall and money for the military. but ignored major spending cuts. it does not renew president trump's tack reductions. senate budget committee chairman lindsey graham said it is important to start with the issue which won the
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election the border. >> the problem we have now is i.c.e. is running out of money, to my colleagues in house, i hope you can pass one big beautiful bill. meaning priorities of president trump. but we have nov on this issue. reporter: house has a separate plan, that cuts taxes and spending, but house republicans say border czar tom homan is pushing for more cash right now. >> we have to get this done asap we have to get tom the money and resources he needs to carry it out on border security. reporter: here is the problem. the budget blueprint is aspirational, there is no concrete money in the plan, this comes as republicans embrace cuts by doge, they believe that irs is not transparent. >> i am a u.s. congressman. it can take me up to 6 months to get a dag gum
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response from them, that is not acceptable, average citizen could go years out that, and we find out irs employee are getting audits themselves they delayed their t audits there is a lot going on. reporter: 5,000 contractors had access to sensitive information at irs, fox told that irs cannot say how many people have access to its system. >> great report are chad pergram, thank you. >> elon musk and doge are finding fraud everywhere. that is the subject of the riff. you think there is no waste, fraud or abuse or corruption in federal government as many democrats that want to stop elon musk and department of government efficency keep telling us, think again, after just a few weeks, evidence is mounting and numbers are growing larger.
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let me start with elon musk's social security database discovery, that 20.7 million beneficiaries are over the agent was 100. -- able of 100, 3.9 million in 130 to 139 age range. more than 3.5 million in 140 to 149 range. and over 1.3 million in the 150 age range. seseriously. does anyone believe they are still alive. former director of so much so much social security administration tried to keep doge out of it. -- he calculates, that 5222 billion dollars, a third of all spending on social
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security each year could be fraudulent. he arrives at it by calculating the u.s. census bureau said there are 101 lives sense kenture yance, okay. incredible. now, i get it. doge people will review carefully all of the numbers. but something is fraudulently remiss, in the social security administration. there will be a lot more, couple billion billion dollars at hud misplaced. and "wall street journal" editorial page, a office report estimated federal government could lose
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between 233 billion and 521 billion annually to fraud. geo, estimated, between 100 and 135 billion of fraudulent pandemic unemployment benefits, even irs paused processing pandemic employee retention tax credits they soared from 55 billion to over 230 billion and counting now. hhs last year estimated 85 billion dollars in improper payments in medicare and medicaid. even though they have not done anything about did -- it far as we know, doge team is just getting started, growing pile of fraud, and corruption is going to keep on growing. there has not been a serious
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financial audit in a long time. way back when, bill clinton and al gore talked about it even obama talked about it but the key point is with elon musk's jet fuel driving this process, president trump o audit will be implemented. and inmusk team is made up of political appointees who are now government federal appointees and they must be permitted to do their job, you can bet they will do that, that is what open voted for -- that is what people voted for that, is the riff. joining me, to kick it around the great newt gingrich, former house speaker. newt are you there? we're waiting. while we're waiting maybe we play press secretary karoline leavitt's statement on doge on america reports
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today, karoline leavitt. >> all right. >> elon musk is a special government employee here at the house, serving at direction of the president. of the united states donald trump. elon musk has been tasked with overseeing doge on behalf of the president, and doge folks, have been on boarding at respective agents across the federal bureaucracy as political appointees. larry: all right, i love it. she has a lot of legal back up on that, i think we have found the newt gingrich, former house speaker, there he is. newt, this thing is growing this pile of fraud and corruption. and i honed in on social security numberses, i don't know if you heard the riff, but, people over 100, wound -- there some people 150 years of age getting social
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security, this. numbers will be reviewed roughly 1 million people over 100. -- 21 million over 100. that could cost 522 billion dole ars, one-third of actual social security spending it could be fraudulent. it could be. and what do you make of this, this is never been uncovered before or looked at before. >> well, you have a huge clumsy old government system, the pentagon has never been audited successfully, never. and yet it spends an large amount of money. some of it pure corruption. such as the 20 billion stolen from california un. un.
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unemployment. much is pure waste and incompetence, you learn that system for off loading federal employees is in a mine near pittsburgh and manuel, has never been modernized. i think that people -- i have a simple model. we should have make america honest again. as part of the slogan, so make it great again, and make america healthy again, and make america honest again. if the house republicans could understand how revolutionary this is, they would have an amount of money to offset anything they want to do, just by eliminating pure fraud. i am happy to have a debate with request democrat to -- with any democrats who wants to explain we need to pay the crooks, i don't think we do. larry: we leak to h like to have people live to be 150, but not many do.
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iit is amazing. democrats and office holders, heads of social security and irs, both whom have resigned. or forced they did all they could to keep the doge team out of their agencies. where huge sums are involved. we scratching the tip of the iceberg here. they did all they could to keep them out. dand they can't keep them out they are federal employees. you can't. why are they trying to keep them out? why is almost -- i will not say whole democratic party, but so many of the activists in the democratic party, left wing, which is the tail that always tal always wags the dog, they
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are trying to stop the audits why? >> they are a corrupt machine. desperate for the money, look at what happened to them with usaid, where turned out that agency for international development, was agency for subsidizing left wingers. all of a sudden, they are not getting that cash. this is straight forward, unnot hard continued to -- you know not hard to understand if start with idea they want money because they want the money, anything that starts to make it accurate, is going to affect their pocketbook, will destroy their machine. and you take money away from the machine that has been the democratic party, it will collapse, and it will end up being a minority party for the next 30 or 40 years. they are fighting for another -- another lives, they want your money, that is the whole point that is
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why they are in politics that is why teachers union is m militant. numbers students goes down but number of staff goes up, we have to understand, this is where elon musk will turn out to be one of historic figures of this administration. he and his team are going to expose to country for first time, how truly sick the system is. and i lost my thing, i -- you have to wing it for a minute. larry: you can -- if you lost your earpiece or microphone, put it up next to your ear, we'll stay with newt. what is amazing to me, is that this is like an 80-10 or 90-10 issue taxpayers like voters want this audit by elon musk to succeed. they want it to succeed. and democrats are on the wrong side of this issue,
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they are on the 20% side of this issue, republicans, mr. trump, on the 80% side. nenewt this is an 80-20 issue or 90-10, the democrats are picking 10 or 20, how can they be so stupid. i know there is a visited interest -- vested interest but i don't see any democrats. saying this is a good idea, bill clinton and al gore talktalked about it and obama talked about, let's make our contributions they won't do it. they don't understand. >> i think if trump is pull this off and win the 2026 election for house, this
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will be the end of the new deal majority after a 90 year period. two things, rasmussen reports that majority of americans are opposed to judges interfering and pretending they are the president, they will be an issue, that democrats will find they are on the losing side, you have there are two ththings go on, one is shock, their world is coming apart, it like is watching godzilla they don't know what to do, the other is enorm ous self interest, they had a game, lobbyist bureaucratic system paid off the politicians, they pause off the loopyi -- lobbyist bureaucratic system, they is being taken apart by elon musk and his team, they
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learn the enormous amount of dcorruption, i am only speaker to have balanced budget for 4 straight years in a hundred years, i tell you elon musk and his time with economic growth a tax cuts deregulation we could get back to a pla a -- bala balanced budget quicker than people think. larry: it is a prescription for prosperity. for a blue collar boom for, fatter, middle and lower incom wallets, there is a good rx for what are ai ails you. >> that is right, unless you are a democratic machine and you no longer have the money, some will have to go out and do to work. larry: starve the beast.
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newt gingrich thank you very much. >> thank you. larry: coming up why won't senate get onboard with president trump's one big beautiful bill? i do not understand. we'll ask senator markwayne mullin when kudlow returns. remember you can watch kudlow, monday y to friday 4 p.m. here fabulous fox business, if you can't make it at 4, text your favorite 9-year-old and she will show you how to dvr the show, and we'll dvr some fraud, and waste and corruption as well, i'm kudlow we'll be right back. join thousands of advertisers who have built their businesses, reaching america's most influential audience. need creative? we can help. fox news media impact starts here. advertise with us today. so, what are you thinking? i'm thinking...
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larry: question does the senate seem to be bucking president trump's one big beautiful bill, welcome back to oklahoma senator markwayne mullin, lindsey lindsey graham said today, love him. but he said, that the biggest issue in the election was the border, and immigration. and i beg to differ. i'm a hawk on the border.
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but the biggest issue was the economy that brings to things like taxes or government spending, i don't agree with lindsey graham, i don't know why senate has to go through with a two bill approach, when house is going one bill including the tax cuts, sir, i don't understand. >> we would -- everyone in senate will tell you we'll be happy to did one bill approach but with a tax -- the taxes in it, it has to ororiginate out of the house it comes from ways and means, chairman smith has to do that, there are aproit appropriate bills we could do. if house can pass 1 big beautiful gill and get 218 on, we could get 51 votes. i am not sure they can do it, if they can we're in. or for one big beautiful
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bill. glamorous bill. if we can get it done, if we can't there is no point in having all our eggs in one basket. tom homan said we're going to run out of money, we can't keep deporting people or keep picking then up and transports them and putting them in different places, if we don't act soon. on getting border patrol, giving homeland some extra cash. fy 25, runs out, march 14 or 15, and we're probably at this way, we'll do a full year cr . reconciliation would allows to infuse more money, that is what lindsey is doing with military in it and border money in it and one thing is does do for economy it has energy, that will bring down energy costs, if you bring that down, you
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heard me say it energy is the back bitcoin of the economy. -- the backbone of the economy, you bring down energy cost you bring down the cost of goods, you cannot make a product or deliver a product without adding energy costs into this. the lower it is lower inflation. larry: it won't put any more money in people's pockets. >> i agree. larry: energy story, i'm for that. lord knows. it will take time, you are not get to drilling for quite a while. this bill, if you pass it will put money in people's pockets. that is what they want. a lot of things, the border as important as it is in solving crime issue and the rest i am for it but does not put money in people's pockets they need the money in their pockets because joe biden left them poorer, after 4 years. significantly poorer, you
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don't see how -- look, house got a budget resolution through the budget committee, they just finished that now to the floor. give them a chance, i don't see how putting something onboard in senate helps that process. it seems like y'all are putting pressure and y'all saying we won't do it at end of the day it's not true, as much as i want to keep the border closed it is already closed. we have done a great job mr. tom homan and everyone. as much, the factory -- remain its was about the economy high prices and high taxes. and high spending. and lindsey bill does nat address that, he does not address spending or taxes i don't think that is a good budget resolution at all. >> let's talk about what house did pass out of committee 4.5 trillion, if you just go with our -- tack policy we have in right
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now. you have to 5.5 trillion to extend it. it does -- we can't do current tax policy under with 4.5 trillion, we're a trillion dollars short. i'm for it. everyone in the senate is for one big beautiful bill if the house can pass it. the problem is they can't prove they can pass it yet. the budget they came up with a trillion dollar short. but since wire falling short, we have to have a contingency plan, i don't believe in putting -- having one plan that is it. i think what will happen, this is my continue, house will do theirs, the senate will do theirs we're go a-b they will fail, we'll to c and circle around to d that is get to back to one big beautiful bill after we
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exhaust all options that the way congress works we will still get there. but some point, someone has to start moving to get the negotiations started. larry: i have to get out. senator. we appreciate your coming oi want stye o say one last thing talk to senator mike crapo, he will tell you that, extending trump tax cuts is cost free. -- cost-free, current policy, natural there is no cost, whatever number comes up, i hear numbers 5 trillion or 4 trillion that is all wrong. it is permanent policy base line, should not be priced out, just like spending should not be priced -- is not priced out. pleased, talk to senator crapo, he is a smart man, as you know head of the finance committee. it is these cost em
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eestimates are wrong. >> i agree with you, on that real quick, 100%, but since they expire, we have to figure a cost, that is the way cbodoes? do-- >> i don't want you to talk to cbo take them off your speed dial, senator markwayne mullin of oklahoma thank you so much. >> thank you. larry: coming up why won't congress just do it? make the trump tax cuts permanent. they don't cost anything, we'll talk to art laffer, and talk with steve moore, if i had and harry would be pulling it out, don't listen to cbo, never, i'm cud we'll kudlow we'll be right back. (♪)
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>> have you decided what the auto tariff rate should be. >> probably will tell you that. on april 2. but it will be in neighborhood of 25%. larry: 25%, joining us now art laffer, former reagan economist, steve moore. they put something called the trump economic miracle. i don't want to waste too much time in it art laffer you heard president trump, he usually says what he means 25% tariff on automobiles. that would go with 25% on steel and aluminum. >> you know i have to see specifics. in general if matching and used to cut tax rates it is good. if using for negotiation it is spectacular, he really knows how to deal with tariffs and he understands damages that tariffs can do
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if put in indiscriminately, i undi -- panama one has worked out well, and so did mexico. larry: steve moore, you have not been to panama lately, what to you think about 25 percent of the automobiles? >> i'm uneasy about it i don't like auto tariffs. i'm not a big fan of steel and aluminum tariffs, there evidence they probably c cost more jobs than save, i like t idea of reciprocal tariffs. larry: one thing i'll say, i don't know what he was thinking, that was a brief clip,p he pointed out other day talking 'reciprocal tariffs that for example, germany has a 10% plus
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tariff on auto from the u.s. but we have a 2. 5% tariff on autos from germany. that is the kind of thing that creates the unbalanced and unfair traded practices it could be president trump using 25% to jawbone a deal. 10% for them, 2% from us, why are we always so nice. it hurts our car business, no more mr. nice guy. art laffer to you, i don't know if you heard we have senator mullin on, a good guy. but you know, lindsey graham budget committee, they put out no tax extensions no spending cuts either, i don't understand it they are pricing out, trump tax cuts
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4.5 trillion, extending them is nothing it is zero. senator crapo said time and again. this is a permanent policy baseline we have already seen revenues way exciting estimate -- exceeding estimates, why are they falling into this trap. congress budget office trap, they use this as an excuse, the republicans are using cboas an ev an excuse not to get tax cuts done, i find it baffling. >> i watched it, to profit watched to i will lean forward and let you pull my hair out. why don't we use this as an advantage for us, get rid of the tax deductions from contributions. 501clys threes that are not religious organizations,
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and tax exclusions apply to earnings that 501cthree ofs gets. they a they use money in bad ways this is the time to get a fairplaying field, and get rid of this we'll have more than enough money to have a bill passed with reconciliation, and able to get all that we want, it is just the right thing to do. larry: yeah. president said, any of the d.e.i. elite universities, any of them, anti-semitism over a billion in end endowment they should be taxed but they are not talking about that. lindsey graham saying biggest issue in election was the border. it was not, i want to close the border.
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but the biggest issue of the economy. spending, inflation, prices, and taxes. that was the biggest issue. and i think republicans you know when they walk away from laffer curve, away from tax cuts they get in trouble steve moore. >> yeah, i quoted in hot hline, ex spike lee who said do the right thing, that is right now is to cut the taxes, i'm frustrated. with the republicans, why is this taking so long. you have a popular president, you have someone who has a mandate from the voters, a republican house, a republican senate, you have some trouble spots on the economy right now. meaning we need to get something done. our friends on wall street are nervous about the direction of this, art laffer taught me, we made a big mistake in 1981 in not getting that tax bill done quickly enough do, it now.
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and then we can dole with deal with others. put it up or down vote in house and senate. do you want everyone american family to pay the tax increase next year, failure is not an option it has to get done and quickly. larry: supply side tax cuts are counter inflationary, art, on that point, we have a lingering bidenflation problem, last 3 months cpi was 4% or something. how can that be good? i'll put if up. steve, you have run it in unleash prosperity hot line, crb commodity index is booming, number times out of 10 that is an inflationary indicator, and i might add, gold is closing in on 3
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t -- 3 thousand an o ounce we have to worry about inflation. >> if you look at dollar and foreign exchange, dollar appreciated. and last year. which is also a very deflationary thing, it is really good for the inflation numbers, i think there is a lag in process, i think that very sharp rise in tips yield is a sign of economy growth, the greater the supply of goods and service more we reduce, lower inflation will be, i could you seeing hold over right now, the hold over of the biden period, i think once this economy goes, 6 months into it you will see numbers go down, i do not believe that trump is an inflationary president, we'll see that number come down. >> if senators don't get trump his program in the
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fullest extent. pro growth and county inflationary, when l look at whole program, steve moore, art is being pan glossian. dollar may be best house in a terrible neighborhood, but i am watching commodities and gold they go to th 3,000, art is probably buying gold. can't be good. it can't be good. something has to be done steve moore. >> other thing is budget is a disaster. first 4 months of this fiscal year, federal spending 300 billion over last year, another you know 2 trillion tack increasing. -- tax deficit. you have to get the taxes down to get growth up, if we get 3% growth, all of these deficit problems go away.. >> one comment. >> growth. larry: i'm telling you --
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-- >> one comment. larry: elon musk himself, cut, unless art you plan to living to 150. if you live to 150 -- >> i do. >> i do. >> i am with that. >> i'm good with that. i hope i make it to 130. we'll see. in is always way couple. >> you are a promising young man, larry. >> love it art laffer and steve moore, can't be better, coming up is eric adams a goner in new york? we'll have joe concha and mark simone next up. to see if you can save money with a commercial auto quote online so you can get back to your monster to-do list. super helpful. see if you can save money at progressivecommercial.com. thank you. tamra, izzy and emma... they respond to emails with phone-calls...
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for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. larry: is eric adams a goner in new york city, joining us now hall much famer mark simone and joe concha. what do you think? >> well, we could rest easy now, reverend al sharpton met today with governor hochul, he is weighing in on this does not soup very much like saving tell crass, it you will remove -- sound very much like saving democracy. if you remove eric adams, what has not been found
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guilty of anything, if you install someone -- maybe is kamala harris available. larry: maybe she could be mayor of new york. >> mark simone, justice department screwed up origin at indictment or counter indictment. this was governor mcdonald from virginia his wife took china for their mantion in richmond. otherwise, he has not done anything. they are throwing him out, they are throwing him out pause he is cooperating with trump and tom homan. >> some people are worried he gave trump dirt on letitia james or had dirt on kathy hochul, who knows, if you are innocent -- remember chris christie br bridgegate he held a press conference. he has not done that. larry: i hope he does better
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than chris christie. that is the last of. >> hard to miss chris christie. larry: nothing nicer donald trump at the speedway, with his grand daughter, this is most beautiful visual, why trump is popular. there he is. focusing -- you can see it look at this picture. that is worth thousands of -- millions of votes beast lapped the speedway. if we have that, and just like the beast, like trump is lapping the democratic party. joe concha democrats do not know what to do about these visuals or stories. >> flooding zone on hourly basis. he did a live pressure before announcing new tariffs. between super bowl 127 million viewers on-linier tv, all-time record on fox, then daytona 500 on fox, 20
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million viewers there he just knows how to seize the moment, and from democrats if you look at l li a giant singing in dc in front of federal building. larry: a lot of f-bombs. >> mark simone, democrats cannot catch up, he will continue the blitz. >> daytona 500 they don't realize how important nascar s someone said if you don't understand nascar you don't understand america, trump fit right in, you can imagine elizabeth warren at nascar yelling at crowd about fossil fuel and bernie sanders saying it is too loud. >> i can almost see b bernie sanders. >> he is barnstorming nebraska and iowa to speak out against doge. larry: elon musk and musk on hannity tonight. >> a great show. >> won't you hear them you
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understand -- once you hear them you understand. >> it shows they get along. that shows there is no wing wefnlg. wedge. >> how about that joe concha and mark simone, you are awesome, i'll be back with my last word, i have tong thin ]k of something fast. 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? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment...
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...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. ♪ ♪ the flag replacement program got started by a good friend of mine, a navy vet, saw a flag at the office that needed to be replaced and said
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wouldn't this be great if this could be something that we did for anyone? comcast has always been a community driven company. this is one of those great examples of the way we're getting out there.
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larry: that's it for kudlow, thanks for watching, folks.

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