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tv   Kudlow  FOX Business  February 21, 2025 4:00pm-5:00pm EST

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investors should look to buy not bail. liz: exactly and warren buffett says and shareholder letter comes out tomorrow. we'll really get an idea of what's going on in his mind because he's been a seller of stocks waiting to have that dry powder. so it'll be very interesting to see we get the pce and any predictions? >> yes, i think the month to month numbers for both headline and core will be higher but the year over year numbers will be lower and find that downward trend continues. liz: sam stovall, always nice to see you. week to date numbers and everybody is in the red. rough day today. but we'll be right back here on monday to do it all again. that's it for us. kudlow is next. larry: hello, folks. welcome to kudlow. i'm larry kudlow. stocks are swooning and charles payne's going to help us out in
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just a little bit to tell us why all this is happening. lee zeldin is coming here to clean up joe biden's corrupt epa and slamming the government of maine with white house reporter peter doocy with a live rendition of that then counselor to president trump, alina habba reacting to the late maine governor but first up, tax cuts on the back burner and on the stock tails and that's the subject of the riff. larry: the stock market watching this all week and dow fell 700
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points and going for them 400 points on thursday and house republicans are working hard to put together one big beautiful bill and requested many times by mr. trump but the senate shenanigans have been front and center all week and renewing 100% of appreciation expensing to promote business and going for 15% for tax made for made in america products or 20% deduction for small businesses all of which boost middle and lower income worker wages and productivity. steve forbes calls it 2025's tax time bomb. republicans last chance to prevent economic shock. if no republican tax bill, the standard deduction per couple dropping from 30,000 to around 15,000.
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the trump package re-incentivize and reprivatize the economy. more work effort and more investment and more profits to pay higher wages, lower consumer prices and higher stock market returns. the gom messaging coming out of a senate right now going for them and so far back on the back burner that they may well fall off the stove all together. the consumer index fallen and jumping from 2.8% last december all the way up to 4.3% in february.
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s&p global pmi pointing down and retail sales plunged in january. i think wrong alaska the reciprocal trade policy and end prices and he himself warned there could be short term one off price hikes. and economic signals flashing slower growth and high inflation and not good. cuttings taxes at 357% and securing the border at 24% and national defense 8%. senator rand paul has called the senate bill, and i will quote, "just a spending bill, which i
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think is a waste of an election and it goes against what president trump is saying and against what elon and doge are doing". stock market agrees with senator paul and doesn't agree and that's the riff. head over to white house and fox news peter doocy joining us live. reporter: not just republicans but democrats and we've heard president trump all week long talking about how he thinks there's a big time fraud happening in the social security department and that would be illegal and they can report to the authorities and >> it's
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strange because the country is 250. been there 110 years older than the country. here, pam, you better take a look at this. [ laughter ]. >> it's much better for you than me. the question is are they getting paid because somebody maybe is getting paid. yeah, i have a feeling you will. i said what a convenient thing. this is so nice. reporter: elon musk is laughing off complaints from liberals that he's got bad intention at the treasury and social security departments. >> listen, if i steal some social security i can buy nice things. reporter: very awkward moment at white house today. the president told the democratic governor janet mills of maine, no more federal funding for maine if they don't comply with the new eo on banning men from women sports.
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>> is maine here? the governor of may? are you not going to comply with it? >> we'll comply with state and federal law. >> we're l federal law. you better do it and you're not going to get any federal funding unless you do it. your population doesn't want men playing in women sports. so you better comply -- better comply or you're not getting any federal funding. every state -- good, i'll see you in court. i look forward to that. that should be a real easy one. and enjoy your life after governor because i don't think you'll be in elected politics. reporter: i don't know what the maine governor thought was going to happen there, but apparently at time of exchange, something was in the works and we've got an early copy of it. i'll just read the subject line. the office of civil rights launches a title 9 violation ad
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one that president trump knew at growly high school, do i have that right? yeah, growly high school in maine. that a -- greely high school in maine, a biological man is allowed to participate in women sports. he warned the governor, she squared off with him and as of about 4:00, the feds have questions for the folks in maine. larry. larry: peter, i don't understand politics. could be 80/20 and it's outrebounded 90/10. lawler shah gilani sensorineural doing in maine? reporter: i don't know. the president two weeks ago sign that had executive order he center creeds manied we saw the ncaa update the rules we're sealing all the leaks across the
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country saying they'll comply with the executive order i don't know why maine thinks they're carved out. the argument now from office of civil rights with the title nine investigation would argue maine is not singled out and they're breaking the law and the penalty for that, which president trump said the minute he signed this executive order surrounded by all the young women in the sports jerseys, he said states will lose federal funding and not just federal funding for sports and they'll get cut off. larry: great peter doocy, thank you very much. heck of a story. we're waiting. alina habba here to talk about this in a few moments. she got stuck in traffic and we'll be with us shortly. joining us right now is ej on tony, heritage foundation and economist and you happen leash prosperity hot line and david
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mall pass, former head of the world bank. stock market having allowsy week yesterday and -- having a lousy week and there's factors in the stock market and don't pretend to be a short term stock market player and the budget and it's nothing more than a spending bill. rand paul on the floor of the senate. no tax cuts and stocks don't like it one bit. that's my hunch. and other stuff to you can tafanely about and i want to start there. what do you make of 124 >> larry, you make a great point and thinking back to what they're able to get the first tax package done and we saw the exact same thing that december.
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ail the losses reversed and turned back into gains and i'm hoping that's what happened here and going for this package across the finish line and if we don't, you're going to end up seeing the equivalent of about a $4 trillion tax hike almost exclusively on the american middle class. that's devastating and you look back over the last four years and robbed them. larry: slumping consumer sentiment and michigan sentiment numbers are very bad. january and february across the board, they're showing less confidence in the economy and they're showing much higher inflation expectations and actual inflation as you know has come in higher than expected
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than anybody wants and last three months cpi over 4% at an annual rate. we're slumping retail sales and wal-mart is getting a bit more pessimistic about their own sales and slower growth and higher stock markets swoon and don't want to blame it all on tax cuts and let's sit back going with ej's point. what do tax cuts do seven years ago when they were first put into place? increase corporate profits, increase worker wa wages and increase productivity and lower consumer prices and they increase stock market returns. the stock market is worried and fretting about the reversal of
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all those good things. >> hi, larry, yeah, follow the money. if you think about it, taxes are forever. if you, you know, if the rate doesn't get changed, if the senate is not able to find a mechanism to get it done and hard for earnings numbers to come through and that's all that's happening and now you know well complexity of getting these done and communication is important and one thing to leave you with and people should be talking about the positive side of if this gets done it's really good for the economy for the long term. larry: yes, of course and i'm an eternal optimist and so are you and so is ej. the reality is right now it looks very shaky and here's our friend senator rand paul
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yesterday, last night, on this show. take a listen to what he said. >> the amendment is put the house spending quotients our budget, 1.5 trillion and show we're serious and people like me can be more enthused about the project. right now i think it's a spending bill, which is a waste of an election and it goes against what president trump is saying and against what elon and doge are doing. larry: he's saying this senate budget resolution and ignored doge dividend and ignored doge spending cuts and ignored the tax cuts and that's what i'm saying and investor haves to worry about it and can't necessarily conclude everything is going to be okay.
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i don't understand the republicans in the senate, i do not understand them. >> they need to get spending down and income tax rates down and incorporate all the great gains that have been made at the department of government efficiency with elon musk and his whole crew, and we should be talking about incorporating the additional revenue that we're going to get from tariffs. the incomes tax didn't exist.
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larry: that's a great point and i want to stay with that. david malpass, they should put a plug in the budget baseline for a tariff revenue estimate. may well work and take five years or ten years and these are ten year scoring windows and that's number one and should put a plug in for a trillion and a half reduction from the doge, elon musk's doge and they should put a plug in and they should do lawler what he's telling them and if my memory serves me, you were on the house budget committee staff. going for the tax lines and going for them and on the deficit. going for them to make four or five trillion to cover it. going for them and don't have to put the tax cuts together with spending cuts and they're not using all the tools at their
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disposals and that's what i'm saying and they should be smart and put a plug in for revenues and going for them and let's go it. do it. >> i would use accurate scoring in order to get ready for the in the economy and going for them and it's on the dell wood. reconciliation bills are done and first tax bills are going since 19 # and have what's critical going for them on the budget committee coming out of it accident technicalities and
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larry: more coming up, talking to charles payne about the stock market story. charles is always an optimist. charles knows markets better than i do and almost everybody does. he'll be around soon. plus, president trump's constitutional cleanup, we'll be talking to alex marlow and kim strassel about that and alina habba here to talk about donald trump's body slam of the maine governor and it'llgreat fun. the whole show. folks, catch kudlow monday through friday every day 4:00 p.m. here on fabulous fox business and if for some reason can't get us at 4:00, just text your favorite 9-year-old and scheele show you how to dvr the show. i'm kudlow, straight ahead. so, what are you thinking?
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the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution 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. stuart: he's taken-larry: he's taken control with all the alphabet agencies and kim
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strassel and wall street journal and political correspondent at washington examiner and going with them and going for them and it's on the editorial page, nail it had. i'm trying to read this and bear with me. sec or fcc. ftc, fec and cftc, cfpb. byron, hang in there with me, ferc, fd ic, the federal reserve and even more. alphabet going for them and going for them to have control over them. mr. trump wants to exercise his presidential executive power and exert control over them and run them through omb and >> it's
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about 100 years overdue and go back for history and wood row wilson and fdr and congresses decided to create a new kind of regulatory body that wasn't under control direct of executive bran and have reports to congress and yet those executive functions and these things have spiraled. i did a count, there's more than 100 of them these days and all the alphabets and you just mentioned and yet, this is a step towards remedying the constitutional problem.
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larry: we thought about doing it and didn't have enough time. disempowering the regular tafanely lori agencies and byron, the president has the right it seems to me to ask the regulatory agencies who he appointments to follow his policies. going for them. going for them to do for so long. >> it's absolutely extraordinary. he wants to be sued. the whole idea is to spark a lawsuit because it's time some
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of the stuff got settled and so many people said if this agency is in the executive branch, but the president is not in control of it, who is? going back to them and the editorial with the bold order putting independent agencies under white house control and echoes the founders. and i believe it's article two of the constitution but you're writing about the same thing and there's a long history there. we've had a progressive line to live with for the last 100 years and back to basic and 1780s and 90s are some of my best years, kim strassel. go back to it.
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going for the word here and word is accis -- accountability and s what the founders cared about and legislative and executive and judicial bran and have voters knew who to go touchdown pass hold someone accountable and that's the problem with the particular independent agencies and i would note, you don't have to do it this way. there's growth indexing to be a lot f o people saying oh my gosh, pandemonium will break -- pandemonium going to get back
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and make them exist the way they do. that's the eggs to crack and mix up and get back to the constitution. larry: byron, to round this up. somehow i'm sure it's just a coincidence but when democrats are in power, the regulatory agencies follow their ultraliberal philosophy. when republicans are in power, the agencies continue to follow their ultraliberal philosophy. you have a permanent bureaucratic class, some of them have been there forever and they're very senior and by the way, they're very smart and i myself, look, i've served twice in the federal government and i know all about this story. it's just odd to me, don't you think when republicans come in, the regulators are liberal and democrats come in, the regulators are liberal. what mr. trump seems to be say sergeant no more. no more i'm going to stop that and as you both suggested, you suggest go ahead. take me to court and make my day. give me the last words.
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>> it was the deep state or swamp and permanent bureaucracy and pretty good description and by the way, it's not just regulation and some of them spend quite a bit of money. and congress giving to the execstive bran and have the president can say we're not going to spend this at all. larry: kim, 25 seconds and epa vs. west virginia and the chevron deference case is in the supreme court suggest to me they're leading indicators that trump will win this one and win
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this one if they go back to court. >> i sure hope so. again, it's a big ask. we will see if the judges have the nerve to do it and tahin danced around it in the past. note that. take it on, folks. take it on head on. larry: kim strassel, thank you ever so much. byron york, thank you, sir. coming up on kudlow, we have charles payne and heal tubing to me about the stock market. why it's going down. 1300 point-blank layups this is week, $700 today and $400 yesterday and it's not good. and then lee zeldin, epa administrator here to clean up joe biden's corrupt epa. remarkable what's going on at epa. remember, folks, kudlow available as podcast and episodes every weekday after the show on spotify and apple and fox business podcast.com. make that fabulous fox business podcast.com. i'll be right back.
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larry: all right, we have king of the stock market next to me, charles payne, host of making money. i was speculating earlier and i think the stock market is jerry and doesn't like the fact the senate put tax cuts on the back burner. there's a lot of powerful profits and wages and lower consumer prices. they've got to get that done. i hope they will. i think stocks don't like what the senate did this week, ignoring that and kind of ignoring the doge dividend too and there's some other signs. consumer confidence seems to be slipping down. anyway, what do you think about this? >> so there's two thing withs the market. one, what will be a catalyst and two going for them and taxes is the catalyst we're waiting for. going for david kelly going for them on the street yesterday and
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he talked about that and wall street looking at this and going with tariffs and offset by lower regulations and tax cut and tax bill. there's a bit of anxiety and house and senate aren't this far awart and that's not, i don't know that's why the market went down and ironically, doge's success initially not going to be good for the stock market. because all of this extra cash out there, a lot of it flows through the stock market and a lot flows through the bottom line of corporations and think about fortune 500 companies and all the ceos, who did they give their money to? harris. larry: yeah. >> right, entrepreneurs backed trump. people that start businesses bactrim p and people in silicon valley and incubate businesses bactrim p and folks that go in and run companies and a lot of
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them with a trough of the american taxpayers. larry: elites. charles: elites and some of that is at play and one of the biggest news stories is there. larry: why is it bad? charles: not saying it was bad but getting away from measuring the success of the stock market in the short term. it's gotten us into a mindset and everything has to work in three months and quarterly period. there's so many people out there and powerful forces afraid of what doge is doing. what trump wants to do. larry: upheaval and transformation. charles: upheaval and think alaska the headline two days ago in "the wall street journal". the market all time highs investor wills pay a price for it. first it was like the stock
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market is down because of tariffs and next thing you know, how the hell did it go up? we're all time highs two days ago. this campaign centered on bottom line of corporate america. short term. we know these are long term investments and created a long term share of prosperity. larry: i agree with that and like the way you put it. i just sang what i think the stock market is going to give them with republicans a nudge or push saying don't you dare. don't you dare give us a $4 trillion tax hike or don't you dare overturn the corporate tax cuts and then going for them and help us but don't harp us.
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charles: what i worry about is the narrative and the narrative is that doge is back and narrative going for them and we shouldn't deport going to have it with a crime in the country and coming in legally and additional more heinous crime and i mean, listen, i had so many economists on the show last year upset about this and it's just really amazing to me because there's a major disconnect and i jus don't want folks watching the show because i have people sending me e-mails today and i have subscribers and you find out who didn't take profit when is you told them to. but people are worried. larry: legacy media is impossible and so-called legacy media and liberals and no matter what happens with trump in the white house, they're going to paint the worst. i think stocks aren't investors
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and smarter than that and see through it. charles: they do. they do. only folks i'm worried about are newbies. many a hell of a run and two year rally and a lot of people and greatest penetration of the stock market in history and 56% of households and last 10% that will need serious hand holding. larry: i want to play -- switch gears and this is charles payne >> in, caa complied immediately. but i understand maine -- is the governor of maine here? are you not going to comply with it? we are the federal law. you better do it because you're
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not going to get any federal funding and going to have the somewhat liberal and going to answer that. going for them with women in sports. complying and they're not getting any federal funding. every state -- good, i'll see you in court. i look forward to that. that should be a real easy one. enjoy your life after governor because i don't think you'll be in elected politics. larry: okay, now i like how he was delivering it and calm and moderate and laid it out. men in women sports, absolutely not. it's the law of the land. by the way, we'll take away all your federal funding. peter doocy reported and not just education funding but all federal funding stopped to maine and just a little icing on the cake told her she'll retire as governor. she'll be retired. charles: hopefully has hobbies
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because she'll be using them soon. what did you think, charles? charles: i loved it. right off the bat, i laughed out loud when he said we are the federal government. we're going to follow state and federal laws. there's a new sheriff in town in case you hadn't heard. it was also the governor of kansas was overturned and didn't want to follow this either and overturned by the state. i sat next to her two years ago and gave a speech there. i went and she came and sat next to me at dinner. but, you know, it's just -- i don't get the folks out there that just it's scary. figure out a solution if you will but it's unfair. for a political party saying for so long they love women and so hypocritical. know how many people not into
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politics that saw this and that swayed their vote. they shot themselves in the foot. larry: 80/20 issue and stubborn democrats on the side of the issue and don't have to be political and have a young, a young girl in a basketball league some place or playing a high school team. charles: i'm not political and my daughter likes sports and i want her to compete against other girls. larry: it's not hard. not guilty discriminating against anymore. larry: charles, you're the best. appreciate it. folks catch charles on making money weekdays every day at 2:0s fox business and thanks again, charles. coming up, lee zeldin going to tell us how to clean up joe biden's corrupt epa. i mean, almost daily. more stuff comes out and quite remarkable and nothing to do with the climate either. i'm kudlow, be right back.
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the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated inwifi solution 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: joining us now, my friend lee zeldin, new epa administrator and, lee, i've never congratulated you on your
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position, it's a very important one and you're a good man to do it. i haven't given up for governor zeldin and leave that for another segment. lee, what's going on here? this corruption in biden epa had nothing to do with climate, nothing to do with carbon emissions, but it seems to me and it has to do with slush funds, political corruption, insider dealing. you talk it out with us. >> we've cancelled 50 million going to run through free free palestine and cancelled nine grants working with doge going towards dei and environmental justice and saving taxpayers about 60 million. we uncovered one issue with the clean school bus program and $160 million was turned into a organization and declaring
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bankruptcy and not delivering on $95 million worth of school buses for 55 school districts and that is fore, larry, you and i even start to talk about $20 billion they parked at a bank outside of the government. lay: yeah, $20 billion outside of citi bank. are you able to claw that back? >> it's a great question for our amazing team at justice department going to work hard to be able to get to bottom of the facts as quickly as possible and what else have they been working with treasury and doj and they're working hard with justice department going for them and uncovered a whole lot of different concerning facts and entire $20 billion being fronted and given to the bank in a way epa has never done before and writing out financial aid
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agreement and going to reduce oversight by the federal government and eight passed for stacey abrams for $100 billion in 2023 and $2 billion in 2024. larry: stop for one moment. stacey ab abrams and perpetual governmenter in georgia and how did she get $2 billion? and doing with climate change? >> talking with laura ingram on her show and i had just read the grant agreement. we're on page one of grant agreement and says this enty formed and has 21 days to distribute $2 billion and on page seven, there's 90 days to complete a training called how to develop a budget. if they need to complete
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training called how to develop a budget, they should be completing a training first before they spend $1 and shouldn't be getting $2 billion. you referenced a term self-dealing and there's a lot of self-dealing across the way this money went out. larry: speaking of self-dealing and running with senior biden official and i don't know what he was -- he was running and there was the same. >> director of greenhouse gas larry: he puts 5 billion into the coalition for green capital. and that's total self-dealing and that's going to be prosecuted a, lee. >> this money should be coming back to taxpayers funding should only be going out in a way that has accountability and oversight and entire scheme is an issue and not just a couple of
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examples that we just touched on and there's so many others. all eight of primary recipients receiving $20 billion, they're all pass throughs and they're giving into other entities and many of those are pass throughs too and pass the recipient to subgrantee in writing and epa has no oversight and control of what happens to the funds next. larry: wow, we appreciate them and i didn't read on the positive side and you in the administration have eliminated the electric vehicle mandate and you've halted biden's ev charging program so you're doing great work. you're a great american patriot, lee zeldin, and keep up the good work. thanks for coming back on the show. take care. folks, i will be back with my last word. ♪
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when i started walton goggins goggle glasses, i had no idea what i was doing. but godaddy airo does. using ai to build a logo, website and social content. so i can let the world know, if your goggles ain't goggins, they don't belong on your noggins! only the servicenow platform connects every corner of your business, putting ai to work for people. - hr? - yeah. - it? - yeah. - r&d? - yup. omg? uh... oh, i see. uh... yeah. that's the department i work in. alright, enough of that.
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do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. so, what are you thinking?
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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... ...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. larry: all right. next week, hope springs eternal, next week i'm looking for the house to pass one big, beautiful bill. trump tax cuts, doge dividend, doge budget cuts. one big, beautiful bill. let's get this train back on track. and liz macdonald is going to drive the train as a new engineer. breath elizabeth i'll try to keep it on the rails. [laughter] larry, you're hysterical.
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