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tv   Kudlow  FOX Business  March 6, 2025 7:00pm-8:00pm EST

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do you hear me? i sure can. so, can you hear well? sure can. hear well, feel well, from your first appointment. claim your free hearing test. call 1-800-234-7090 now. advil targeted relief. the only topical pain reliever with 4 powerful pain- fighting ingredients that start working on contact ugh for up to 8 hours of powerful relief. advil targeted relief. larry: hello, folks. welcome to kudlow, i'm l arry kudlow. so treasury secretary scott
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bessent talked growth. senator john kennedy will be here, ending social security fraud and help elon musk doge recisions or great friend newt gingrich on trump's golden age, ej antoni and new cabinet member, kelly lefler on the important of trump's tax cuts on small business. but first fox news peter doocy is live at the white house. peter what's cooking. reporter: larry, i just came out of oval office, where president trump talked about a meeting he had today with majority of the cabinet and elon musk. they were just making sure it is a something road forward, he told cabinet secretaries that they need to work with musk. not because he thinks he is doing anything wrong or he is going too fast, he wants them to work together on issues of staffing, the
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cabinet department to keep staff they want. and let musk know which they don't want so they can continue cost-cutting like that. >> and it was a good meeting about cutting, everyone knows country is way out of control. in terms of the number of people we have many people that don't work. reporter: and on president trump elaborated on truth social a little bit saying: >> something else we are hearing about, ac axios reports that elon musk meeting on hill yet, he was mitched an idea by -- pitched an idea by rand paul
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and others, saying codifying making the cults the law. he did not know they could make some of these cuts, permanent. with 51 votes. now democrat support needed. musk's doge could go from an idea that president trump likes to start his administration, second time, to lit people know he is serious about reforms, to something that is actually making the law of the land a budget that is 500 billion less every year. larry: recessions, only need 51 votes, peter, you went back or 7 years ago you didn't hear this emphasis from president trump on cost-cutting on staff cutting on about any of this this is new, i think fabulous this is recession authority, has not been used in a element time, just
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saying. peter doocy, from the white house, thank you. >> all right, tread man bessent talked growth at the zigfield ballroom that is the subject of the riff. treasury secretary scott bessent spoke to economic club of new york emphasizing growthiness of president trump's program, i interviewed secretary after his speech. importantly, bessent emphasize deregulation. in banking. that including bank loans to small businesses. very important during biden years fed chair j powell swayed with the wind. and debanked and terrible supervision of silicon valley. j. powell provided identify
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a real mess, and president trump appointee mickey bowman will get the nod to become fed vice chair for bank super i supervision. now, scott b bessent defended trump's campaign to stop unfair trading practices and currency manipulation and intellectual property property theft, and president trump today paused the 25% tariffs on mexico and canada giving usmca, a 30 day prebrief, trump is ride about unfair trade -- trump is right about unfair trade, i spoke with bessent about this, there is no equivalent between communist china and united states for example, high time that trump's idea of reciprocity is put in place, if u.s. does not do it the world trade organization, will never do it. and our heartland industries
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will continue to suffer. mr. trump's review process may be a little disheveled at moment but pome policy itself is correct, king dollar will continue, he is very pleased that bond rates are coming down. and bessent is a growth guy, we talked about trump's tax cut policies, where president wants all of his 2017 tax cuts and no taxes on tips or overtimes or senior benefit, growth is so important, i mentioned that combination of tax cuts and deregulation and rest of trump program, if that produced, if it pre produced 3% growth over next 10 years, that would be worth 3 trillion dollars
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more in resources, created by the private sector. scott bessent talks about the need to r to to reprivatize the american economy, trump taxes to be comprehensive. mr. bessent talked about the importance of reducing government jobs and increasing private jobs and gave a strong endorsement to work of elon musk's doge downsizing, i tell you scott bessent, elegant old school south carolinaian gentleman with a brilliant mind, and
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tremendous intellectual grasp of keyis issuing that will fulfill donald trump's mission of a new golden era for america. that is the riff, new we bring in louisiana senator mr. john kennedy. sir thank you for coming back. quick comment on you know scott bessent, probably come by, you venture viewed him, old school -- sharp as a tack. pro growth. i think he is mainstay of the trump cabinet, what is your view. >> here is what i think treasure secretary understands well. when moms and dads lie down to sleep at night and can't, the thing they are most worried about is high prices. not to say they are not worried about other things, it is high prices, we didn't
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lose sight of that, we can get the high prices down but we have to do 3 things, scott understands, we have to reduce spending. number two, to deregulate the economy. so goods and services cost less. and number three, we have to redesign the tax codes so it looks like someone designed it on purpose. and you point ud on the, since 2010, gdp growth averaging open of 2%. that is not enough. it has to be 3% or better. that will stem late the economy. and grow wages. if we do those things. as treasury sert understands people will be able to deal with high prices and product and services will go down. but, we're not talking enough we're talking about what we need do to get high prices down. we're not tying them together for american
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people, treasury secretary is very good at that. most of the publicity has been on the spending cuts. and look i'm all for them, i think elon musk is a rock star. the tofu crowd is mad. but you know, when you trim fat, pigs squeal, that the way the world works that the law of nature. larry: on the inflation front, getting costs down. you know look for a couple years on show i talked about biden's affordability crisis, now senator, just work -- work through it with me, on one hand, we can lower tax burdens on middle class, so that will help pocketbooks get fatter. but on other hand, i think that two things you needless government spending, to much less government spending and i think that federal reserve
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needs less money printing. they are part of the problem. you may disagree. but i thought i would thrthrow that out. >> i would agree. with multi multiprong effort, how diddy we get this inflation and high prices? government over spent. we have to spend less money to get out of it the strength of the u.s. dollar matters. u.s. dollars is the world's reserve currency. actual that's is probably not true, i think that real reserve currency in world is a taylor swift concert ticket but u.s. dollar is number two. if we were reduced spends interest rates will fall. we got to deregulate the economy. and we have to gotten
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crossing -- to increase wages, only way to do that is stem l statement late the economy -- to sphi stimulate the economy. >> our friend rand paul, senator rand paul, he is talking about using the turning doge savings, any savings, into permanent cuts to baseline thr rescission. this is way back when i was in a young working for ronald reagan in his budget office, i was 12, he used rescission authority a lot, i hope that administration,
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and russ vought and scott bessent and so for working with the house. >> a now brainer we -- no brainer we talked about it with elon musk yesterday at lunch, we need to po pounce on this concept of rescission like a ninja, a bill to take spending cuts found by mr. musk and have congress take the money back it just takes a majority vote, we don't have to wait until mr. musk is through with his work, we can do it piecemeal, we need to start on had immediately, we talked about that at lunch yes. i think you will see the first rescission package come to floor. i understand that -- i have not talked to him directly, i understand that president will be supportive. that will ended worry when lawsuits, tofu mob filed so
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many lawsuits saying musk does not have the authority only congress does, okay let congress do it. larry: good for you, other part that i have been reading about, your railing on correctly, fraud asound social security. and from the mentioned in his -- the president mentioned it in his speech, he said to bobby ke k kennedy. we -- they don't live to be 150 that money should be pulled out. it is not ending social security but ending the fraud. >> yeah. we can fix it. i have been working on it, since 2018. i think we'll move the bill here in next few weeks. in a nutshell when you die your name is sent on social security administration, they compile a death m
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master file, social security for years, refused to share the list with anyone, i have a bill to require them to do that. and to share that list permanently with the treasury department and everyone else in federal government, who sends out the checks -- so we can stop sending checks to dead people, this is not complicated. it triggers my gag reflects to think that is taking me 7 years to get this done, but i have a lot of opposition. >> senator last one. you are a smart chap. we have worked together, we mostly agreed. let me ask you, how do you step back for a moment, how do -- are you happy, satisfied may be the better word with trumpian economic policy it is different from his first term, in
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particular with respect to blinging down spending and -- bringing down spending and federal workforce and that nature. are you happy with it? does it need improvement and where? >> i think president trump on economics, and otherwise, is doing very well. but you remember the old saying, the danger of rising high is that the air gets thin. i'm worried when the tariffs, i am not saying that tariffs will cause inflation. president trump did them in his first term they didn't. i am saying that we don't know. we're in very obscure territory. we're in you an charted wart -- uncharted waters, i think that tariffs start to cause inflation i think that president will back away from them. and i am not saying that i
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don't trust president trump, but, you know there is another saying, trust in god but tie up your camel. you know. if this stuff start z causing inflation, we'll have to recalibrate, i'm tell you, i'm not saying border is not important and ukraine and the middle east, and culture wars, and the academy awards and super bowl they are important. but the single most important thing, that moms and dads worry about. the thing they expect president to fix is high prices, we can do it, but we have to start -- we have started but we have to go full speed ahead beginning new. larry: yes, sir, senator kennedy, you are on message, i appreciate you coming back on, show, sir. >> thank you. larry: a take care on
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kudlow president trump trying to bring a golden age to america. growth, growth, growth, growth. senator kennedy is right. cost, inflation all of the pieces, a holistic package we talk about it great mentor newt gingrich next up on kudlow. ah? —yes! ...this year, we are finally updating our kitchen... ...doing subway tile in an ivory, or eggshell... —cream?... —maybe bone?... don't get me started on quartz. a big big island... you ever heard of a waterfall counter?... for everyone who talks about doing that thing, and, over there. but never does that thing... a sweet little breakfast nook. chase has financial guidance. let's see how you can start saving to make this happen. —really? —really? really. at home or in-person. you could also check out a chase money skills workshop. that's guidance from chase. make more of what's yours. pronamel clinical enamel strength can help us to keep our enamel for a lifetime. it's backed by science it is clinically proven to strengthen our teeth.
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>> over 10 years differential between 3% growth and 1. 8% growth comes to about 3 trillion dollars of extra money. which could be poured in for any number of private sector uses. larry: that is years truly, up interviews scott bessent at zigfield theater, joining us now, great friend, and house speaker, and fox news contribute irnewt gingrich. there is a lot we can talk about. i have scott bessent on my mind, high spoke well today -- he spoke well today. and et cetera. i'm thinking growth, newt, this is not a new subject with us, it is s is important.
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sometimes gets lost in further discussions. the difference between three% growth for next 10 years and 1.8%, is about 3 trillion dollars of attract money, and that -- extra money that would be private sector money under the president trump policies they are ending big government socialism, i would like to see that number put out there that is a massive number. that number will go to middle class pocketbooks and wallets, let me add that. >> well, on the key to a successful america is to have us growing an economy which out produces anyone else in the world we have done it before, we have a huge resource base. we have an extraordinary population of people, and we are far and away most
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inventive country in the world, of 19 companies, that have a trillion dollar annual revenue, 14 are american. 4 are china, and last europeans and having nated. if -- stagnated if we can pass this string. spring. the big beautiful bill, get taxes down, regulations down by mayor june at latest, you will see a boom next year. you will see companies piling into this country, investments, with all of the things with new technologies. visited a factory called divergent that can reduce costs by somewhere between 40 to 70%, most advanced factory on the planet. pentagon if it use its will be able to take billions out of their th -- budget
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while producing web opens faster, and getting inside cycle time of chinese developments so we leapfrog them, there are so many good things that if we focus on making america fastest growing, more steye desirable place to invest, to where you want to come to hire people, and launch your company, and factory, we could enter what. t trump calls the golden age. larry: at speech on tuesday night, trump's speech, a fabulous speech. he said that the 100% expensing of machinery and equipment all be retro active to january 20, here is what scott bessent said today, that factory building would be 100% expensing. retro active to january 20,
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not apartment houses or shopping centers but if you build a new factory you get 100% expensing and 15% made in america tax rate. that will be fully expense and written off retro actively, that is fabulous, i didn't know that. that slipped out in the scott bessent thing today. >> let me tell i, from learning, you remember. in 1981 tax cuts that didn't go into effect until january of 1983, 82 we have a deeper recession everyone is waiting for tax break these guys are smart about incentives, you look at number of companies, that have announced they will invest in america, the first couple weeks of trump administration, i have no doubt that the by end of this year, if we can get bill passed by mayor by june, you will see,
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trillions of dollars of commitment to new factories, and new jobs and new opportunity, higher incomes safer pentionses, and ability to pay for so much so musocial security for -- for social security for the foreseeable future. larry: other thing that is important and different is emphasis on ending big government socialism, it is -- it may start with elon musk. it is running through trump. it is running through scott bessent through russell vought and kevin hassett. the big government socialism, that strangled and smothered the economy for 4 years and made inch glum and dismal, they are trying to get rid of this rescission authority and
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budget authority, this is important that will free up resources for y technological revenues. >> you have a cabinet most entrepreneurial, and most success oriented and most achieved oriented cabinet, every one of those cabinet officers understands where trump wants to go, they want to go there with him, you will have aggressive solid cabinet secretaries who work as partners with musk. and together they will dramatically reshape the government of united states, into a more decentralized smaller, more efficient and dramatically lid fraud-ridden, this is an amazing historic moment. larry: you have been fighting for it for 4 years now, newt gingrich you are the best of the best, we'll talk soon thank you, sir. >> coming up on kudlow. ej antoni, will update the trade picture. all that when kudlow
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returns, we have a 30 day reprieve on usmca, trump is right, reciprocity is correct. sometimes. timing everything is. i'm kudlow we'll be right back. 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. ♪ empower ♪ so handsome. oh, i can't buy this. woah, woah. your empower investment account has grown. you earned it, so... (♪) get good at money. so you can be a little bad. empower.
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larry: talk trade, with economist ej antoni. unleash prosperity. ej antoni, one thing. you saw the scott bessent presentation today. and the kudlow interview. but, i thought he did a good job. not only on deregulation but also defending trump's trade policy, this is new york, everyone obsesses about tariffs that is assault they talk -- that is all they talk about. because, we had y unfair
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trading system for 25 or 30 years, america's expense, damaging our heartland, but treasury man defended trump's policies. >> he did, and he did so very articulately, he laid out the various reasons why we want to look at tariffs as a solution to a hoist of different problems, whether it is a bargaining tool in terms of solving fentanyl crisis and the flow of illegal aliens coming across border or prevent nation like canada from abusing the usmca by allowing china in the backdoor or a better deal for american farmers and factory workers by getting other nations to lower their tariffs and the nontariff barriers, i am so glad you discussed that, they are ways that othe
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other nations have handicapped america history, no one has talked about it. larry: free traders t track about ricardian equivalents. russia, and brazil authoritarian, not like we're all milton friedman, free market open trading, there is no equivlength, trump is right to step in. i think scott bessent whoy we have talked about this for some time, better part of last year, you can't allow this to continue. >> that is right, this is not as if you are trading with the friendly neighbor next door, there are a lot of other considerations, i think that ising that some president and secretary bessent recognize. and they are willing to deal
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with, they are willing to get their hands dirty and do the hard work so many refused to get into the rewi weeds and deal with it. larry: last one, ej antoni, trump stew tuesday night, mentioned that tack poll -- tax policy and tax cut and 100% immediate write-off expensing for machinery and equipment. retro active to january. but i didn't realize this, scott b bessent said that retro active to january 20, 100% expensing including factories, if you build a new factory you will get 1 h 100% write-off and retro active to january 20,
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not apartment houses or shopping malls, that is you may have known that. i did not. >> well, if you think about this what is the economy, what we produce. the value is pro d production. that we want to encourage production and investment. this is a move that will do that it will encourage american production and employment of americans. larry: all right great stuff, ej antoni thank you so much last minute call we appreciate it. >> i didn't say it, we have a 30 day reprieve on usmca . joining us now, politics on sit, liz peek, fox news contributor, lee carter. and partner at m and partners and rich lowry. lee carter, trump, woke, no
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longer very popular two genders popular, stuff you took from his speech what else? >> i whole speech was phenomenal from perspective of republicans and independents they gave him credit, they were happy to hear him talk about price of eggs and give it back to democrats saying you should be standing right now, they were happy when we covered into the ryans and he was talking about the 13-year-old who overcame brain cancer, was -- they were happy. >> democrats were defeated. it was not they were angry, they didn't hate what they said, they knew they were resigned it was a bad night for them. across board, i tested this, they were flat lining the whole night, they knew they looked bad, they knew that donald trump was winning, for them, they resigned.
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>> they didn't like the auction paddles? >> they did not poll well.. larry: -- this point. they looked bad, they looked bad. no. they looked worse as the speech went on. here is trump having a good time. you could tell, a happy camper. some of the guests. you know, including the kid who will be head of secret service. very cli clever, and happy, but democrats could not smile, that made them more, morose, then ring leader dumby from texas al green he gets dl thrown out, he should have been, that made it worse, they remembewere sinking deeper into their chairs.
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>> he set them off, he said watch they won't applaud anything no matter how great it is, they did not, they start out with shocking stsomespectacle. a 77-year-old man waving a cai cane and having to be removed. >> how -- it is derange ment send rhyme. larry: if you were there, i don't care, democrat or republican you see these guests, they are great stories and hostages, and the you know butler field rescue, and secret service and this kid and other one to west point, of course, you applaud or be happy. >> i think they hate donald
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trump so much they can't get away from, that they can't step outside of, that the feedback on this, their bhe behavior has been horrible, we're not only ones that recognize their lack of humanity and compassion. mark fully, a hostage returned from russia, they can't applaud that. >> his 95-year-old mother next to him. >> they look stupid. but it is one of many problems right now, they have no message, they have no leader. nancy pelosi for all she is terrible leftest or whatever, the truth is he corralled them successfully for a long time. hakeem jeffreys that not a nancy pelosi this is huge problem for them. larry: democrats need. >> everything. larry: they need anti-anxiety pill or something, the whole party is on hold with nothing but glumness and meanness, this
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is mean. mean, mean. >> there is no connection to the american people that was demonstrated during the election, we saw they were out of touch with american people, looking for answers on the economy answers on immigration and return to common sense, they were looking for all of these things this comeback, democrats deny it then, they came in prepared to the do during the speech was say, we're not applauding anything, we sit here and we'll resist. you know that might have worked in 2016 but did does not work today, majority of americans' what donald trump is doing they want someone who will fight for them not dwagainst them. >> they are resisting trimming the fat of federal budget of keeping biological men out of women's sports. >> i don't think that democrats will learn anything soon but gavin newsom in a pod sa
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podcast, said now he does not think it is fair to women. we'll see if he claw its back. >> will he make it a california policy. >> a good question. larry: they have a different legislative law policy on. >> we'll see what reaction will be, that is a sign he is thinking, realizing. larry: they need -- >> wrong side. >> i said this other night. do you remember sister soldier phrase, bill clinton. hihe came up against a crazy singer who said we should be killing white people, they need a about 5 sister -- just on the values questions. put the economic aside. they need to show america. >> they can't even define what a sister or a woman is. >> a something. >> i tell you -- >> i tell you who is sounding reasonable and
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moderate is john fi fedder fetterman, saying what, you doing this not working hating trump is not a message, they are not there, it is is amaz. larry: they are surge. i am sorry. >> they are sunk. >> titanic to the third power. >> they have crazy people. far left is the tail that wags the dog, i will follow through on gavin newsom thing. i know him for years. i had him on my old show on a different network. several times, when he was a pro, moderate democratic mayor of san francisco. now i saw him in white house said gov governor ball or dinners, we lost him. but maybe he wants to come back. you are wonderful liz peek, lee carter, rich lowery. a great tie, coming up -- my
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wife insisted i wear it. >> a beauty. >> i might the to b buy it, coming up tax cuts banking reregulation good for small business, we have kelly lefler with kudlow returns. stick around folks. every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪ baby: liberty! mom: liberty mutual is all she talks about since we saved hundreds by bundling our home and auto insurance. biberty: it's pronounced "biberty." baby: liberty! biberty: biberty! baby: liberty! biberty: nice try, kid. only pay for what you need ♪ liberty. liberty. liberty. ♪ baby: liberty. [sofi mnemonic] can a personal loan unlock your ambitions? oh yeah. consolidate bad debt and save money for your next goal. sofi personal loans.
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larry: you know what tax cuts and banking reregulation talked about by scott bessent today, good for small business, welcome back to you kelly lefler. condcongratulations. appreciate it. i want to say, we have known each other a long time, scott bessent was talking at the economics club in new york today one of his key points was importance of banking deregulation. how about banks make loans. how about median and small banks -- museum and small banks made loans to small businesses, what do you think? >> we know there is no bigger fan of small business than president trump, and secretary bessent is right, credit is life flood of, that is what we have to do
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get back to having a sane regulatory environment that will allow businesses to flourish, this is a growth agenda that president trump is unleashing. we have to make sure we get regulations out of the way, that is what we'll do at sba . larry: it is great, just -- banks regulators got to change their at attitude. if you look at loans they have done badly because of the esg, and d.e.i. regulations, they hate fossil fuels and j. powell of the just as guilty. i am saying, deregulation would help you a lot. kelly loeffler your number one, talk about internal reforms where do you begin? >> you just mentioned deregulation that is huge, make sure we unstrangle the small businesses from 1.7 trillion
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dollars that biden laid on them. and we'll get rid of waste, fraud and abuse that biden aided and abetted. and we're implementing president trump's pro growth agenda, gretz rid of green new deal and d.e.i. and help support his manufacturing boom that will insure we create -- ensure we create tthe blue collar boom, through the sba it is 99% of all businesses in america. they are small businesses, we create 2 out of every 3 now jobs that is why president trump brought a fellow business person in to make sure that agency respects small businesses being honor their jobs by doing ours and getting people back in the office, this is a new day at sba, i could not be more proud to be in the fight with president trump. larry: i think that tax cutting the help, i want them that one big beautiful bill to be passed next week,
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but tax cuts will help, small business getting a big deduction in the cuts, and if you follow the story, the write-offs, depreciatetion, 1 100%, factory construction will be 100% retro active to january 20, tailor made. >> absolutely, i hope congress got the message about making tax cuts permanent and helping small businesses with deduction and expensing and giving them certainty at a time of uncertainty. kamala harris was elected we would have had tax increases, crushing small businesses, president trump is a f supply side ir.
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larry: sba direct or cy loeffler thank you so much i'll could right back with my last word. things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours. gum problems could be the start of a domino effect parodontax active gum repair breath freshener clinically proven to help reverse the 4 signs of early gum disease a toothpaste from parodontax, the gum experts. my parents worked hard for everything we had. ♪ they taught me the value of a dollar, and how to use it wisely. ♪
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speak to hennion & walsh. the second opinion people. larry: that's it for kudlow, thanks for watching, folks. boy -♪ whatcha want, whatcha want ♪ ♪ whatcha gonna do ♪ when the sheriff john brown come for you? ♪

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