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tv   Kudlow  FOX Business  March 11, 2025 4:00pm-5:00pm EDT

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that our government has to do to get ungracious down, to get the deficit spending down and interest rates down are going to be negative for risk assets and we're expecting a 15-20 fertilizers drop in the s&p if this continues and we don't think the fed will save the day. increasing defense after a great run and just wait and see because there'll be golden opportunities no pun intended in the second half of this year. liz: saved by the g-l-d spider gold index and you happen 11% year-to-date and eddie ghabour, thank you on a very busy day and the russell is the only index that looks to eke out a small gain and what a wild session and headlines from the trade war and not complete so stay tuned to kudlow. he is next.
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>> hello, folks, welcome to kudlow. i'm larry kudlow. larry: we've got house members claude rag tenny and paula luna and noted buying this recession theory and stocks are down again and i'm not buying recession. we have art laffer and steve moore talking about all that? that in just a moment and he had ward lawrence live at white house. edward, what's cooking there? reporter: larry, tariff tuesday went poof and ontario the premier of ontario, mr. ford called him and said he's no longer going to put 25% tax on electricity coming into the united states and the president would then in turn look at rolling back the 50% tariff he
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said he was going to put on steel and aluminum from canada and might go back to original 25%. this means that the 1.5 million people in new york, minnesota, and michigan can rest assured that their bill will remain the same and the electricity that they get and potential for the tariff war and going for them and uneasiness ahead and set up for this. >> lookerring at what's there and said that the tariff policy is here. producing goods exporting to the rest of the world. reporter: he believes he can do that through tariffs and later today the president talking with the business round table, the group represents companies that employ 37 million people and account for 24% of the u.s. gdp and president trump will explain the tariff policy as he tries to
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reassure business leaders prosperity is coming with his deregulation. large companies may be looking past the short term bumps and the ceo after alcoa, listen. >> tariffs come down and consider this for tariffs in the future and not based on tariffs but being able to lock in energy prices for 20, 30, 40 year time period that provides enough time to provide returns on an investment of this magnitude. reporter: the president is replacing non-productive government jobs with productive private sector jobs and that transition he says is happening right now. larry: edward lawrence, thank you ever so much. appreciate it. over to capitol hill and chad
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pergram joining us live. chad, what's going on this cr? reporter: good afternoon, larry. house of representative right now is debating that interim spending bill. that would fund the government basically at old biden era levels through september 30th. hakeem jeffries, democratic leader from new york was on the floor right now. right now the vote probably a little bit after 5:00 and thomas massey, republican congressman from kentucky is the only known gop no he's undecided but a bit closer and jd vance, vice president came to capitol hill to try and convince those on the fence to vote for the bill. an example is greg steube, republican congressman from florida and willing to support the interim spending bill and never supported one before but didn't want to undercut president trump's agenda. and as you always hear me say, larry, it's about the math and
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republicans can only lose one vote and democrats are encouraging a no vote and need everyone to be here and if it passes the house of representatives, it goes to the senate and could face a senate filibuster. right now we know that rand paul, republican senator from kentucky is a no. if you get almost all republican senators on board, you need anywhere from maybe 7-9 democrats to overcome a filibuster. rick scott, republican senator from florida, he's never supported an interim spending bill so he's kind of on the fence right now and just within the past 40 minutes, i asked chuck schumer, the democratic leader what he'd say to democrats that would be willing to vote for this. he said we're waiting for the house and turned on his heel and bolted. when you look at that universe of democrats in the senate that could support this if this passes the house. john fetterman from pennsylvania, i would look at john the democrat senator from georgia and jean for new hampshire and running for the reelection and swing state and
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alyssa slotkin, the freshman democrat michigan who delivered the democrat response to the president's speech right now. they're on this debate and we expect this vote to come up in a bit and will probably come down to the wire. larry: thank you, chad pergram. appreciate it. elon musk is a dedicated patriot and that is the subject of tonight's riff. he was open, honest, transparent and committed to preventing this country from falling deeper into an entitlement state that could wind up in bankruptcy. he's been subjected to extraordinary criticism from democrats and all their left wing allies but president trump time and again had given elon full and complete backing and
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all though musk is not really a political man, he understands it's a political state and going for waste, fraud and corruption is essentially the democratic party feeding at the taxpayer trough and attracting illegal immigrants going to take a listen to what musk said. said. >> the spend sergeant a big one and going for them and it's going for them sipping 700 billion and that is also the average of illegal immigrants and if you pay them to come here and going for them to turn into voters. larry: spot on analysis from a non-policies and musk is a man on a mission. ai asked him if he heard a
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call to action. what he said. . how are you running your other business s? >> with great difficulty. yeah, i mean, there's no turning back you're saying. i'm just here trying to make government with waste and fraud. and it's already going for them and most of the federal agencies going for monday night and not realizing. larry: if you want to look under the hood at what elon and his team are doing, go to the website where they're reporting line by line every contract they cancel and every lease they tear up and score each agency based on how much they've cut.
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if you disagree with our recommend indication when line you october to and we've had they're going on this musk for atrial and russell vote that dodge saving implemented to a pact et of rescission and going for them to need simple majorities in the house and senate in order to enact it. just recently, cancelling most of u.s. ai david: d.
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mussing has taken created criticism undoubtedly because of democrats and allies do not want to lose their foothold and the permanent library rale bureaucracy that mr. musk is tearing country-specific. going for the president to get things implemented as a reflection of them. it's not a democracy and it's a bureaucracy. larry: several charging stations lit on fire and one tesla nobody was there at the time and others were subjected for protest demonstrations and he acknowledges his lizs will suffer and spending time in the white house but he remains committed and told me he was going to go at least another
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year and i guessed you one time. can you resto rescue the astronauts and not near enough attention being tate to that . larry: god bless is right. dedicated patriot indeed and that is my riff. folks, joining me to talk about this and others is art laffer, former reagan economist and host of nice to see you. just kidding.
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and better tariffs and all the rest of it and all the stuff and elon musk is something and going to threaten left and right. strong standing up and committed for the business acquisition and committed to them with president trump going for the country and not sure we've seen anything or anybody like that and going for elon musk. >> we haven't come close to anything like this and going for that and it's on the lineup and it's transformational and couldn't be more pleased than i am with elon musk and going with them and doing what he does best is controlling spending and government spend sergeant
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taxation and you cannot -- spending is taxation and going for a four person spending themselves into wealth and elon musk's job here is one of the highlights of the trump administration and mr. musk and mr. trump going to reduce spending and going for them in the house and leading to a recession. and people are saying that's recession natural rights approach and going for them. one is after world war ii and going for them and going for
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them. all the way down to 18% of gdp in the years and government boomed and going for them and when bill clinton came into office and going for the cold war thanks to reagan and cut government spending from about 24% of gdp and 18 possessor of them and guess what, the biggest boom ever and government stimulating and more to get these liberate and higherring more people and listening to what my hero elon musk is saying, he's identifying for the american people how absurdly
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he's spending money and what bothering me is the left responses and democrat and responses and going for him that's frozen and if you're a democrat and believe in good government, you should believe in good government going for them and spending of bad government and they believe in big government and don't believe in good government. larry: arthur, with all that, the stock market is correcting with a peak record from february 19 and down another 450, 460 points today and going through a correction. 10% is a correction. steve moore wants tax cuts instead of tariffs and is that
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going to cause a recession and doom and gloom people are telling us. getting them passed and done and look at reciprocity for the key for donald trump that he, if i can just say this about trump, single best president in the first term and have look at him well educated and knows the stuff and better educated than any president i think think of
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anyone i would prefer to be president of the united states today than donald trump. using the tools in the first term and we have lower tariffs and better deals with japan and usmca and you were right there and get it with south korea and brazil and bolivia and i trust donald trump more than anyone on being able to handle these tariffs and negotiate reciprocity bringing these guys back to the table as you know. these foreign countries that sell goods to us charge much higher tariffs on our products than we do on theirs. larry: they're ripping us off. >> i what i would like to see and trump would like to see call him and ask him if he was right, see them lower tariffs dramatically and u.s. to keep their tariffs same level or going down further and this
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created a normalcy. i'm not really worried anymore with trump. larry: look at canadian situation and very, very interesting and plea mere of ontario ford put up 25% electricity tariff just out of the blue. trump going to be aluminum and steel tariff and within hours ford of ontario dropped his electricity tariff and mr. trump going to bring his tariff down now and going to negotiate this through and usmca through a review period and may of 2026 next weir year. steve more to you, mr. trump going to argue for e. going to
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be a type speech and there's no bounce to american greatness and the american economy what we can do. fluctuate with corrections and technology stock and may have been overcorralled. what he's going to do. >> president trump was president for your years coming on your show and we have a record stock market boom when you were working with president trump. i mean, nasdaq was up by # 0% and dow jones up 50% and the 50% ask one of the great booms and trump is in my opinion the most
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pro business president since calvin coolage and he's pro business and he's going to get a deal with canada and going to get a deal with mexico and going with it's a tesla. we'll ask house members claudia tenney and anna paw lina luna if they want one too when kudlow returns. catch kudlow monday through friday at 4:00 p.m. here on fabulous fox business. you can't catch us at 4:00 for some crazy reason, just text your favorite 9-year-old and she will show you how to dvr the show. you'll never miss a tesla, how
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be going wild and they love the product but because he's finding all sorts of terrible things that have taken place against our country, they want to penalize him in a economic sense and i just think it's very unfair. larry: no leverage just going by for cash. house members claude why tenny of new york anna paulina luna of new york. thank you, ladies. anna paulina luna, you going to buy a testa too? >> i don't know if it's in my pocketbook price range, i love tesla but i love muscle cars more. larry: how about you, claudia. there's a tesla waiting in your driveway. >> they're very cool and not practical in up state new york and hoping when trump eliminating biden era for buying an ev and compete on the open market with her muscle cars,
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that would be great. make sure the $7500 and excise tax and those incentives eliminated by president trump and tesla and all the other evs can compete in a free and open market, but they're very cool and i have a lot of friends that have them. i don't think it's going to work too well in up state new york. larry: you have have gasoline muscle car or electric muscle car and we can meet in someone's driveway. all the waste, fraud and abuse in the entitlement program and something by the way the gao, general accounting office pointed out, it's not new news and numbers slightly higher and the attack on something and elon talking about waste, fraud and abuse and going for benefits in social security and medicare. take a listen.
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>> all of the spending and that's the big one to eliminate and that's sort of half trillion, maybe 600 billion a year that . is also the magnet by which democrats attract and obtain illegal immigrants to get them here and turn them into voters. larry: that's the way democrats attract illegal immigrants and by the way, when they get here they want them to vote in places like new york and california. i mean, don't you think musk make as very important point, democrats feeding at the trough. they're beside themselves they may lose all the entitlement pork? >> he does and what doge and republican government body is doing is cuts and looking towards savings and also to getting rid of the fraud, waste
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and abuse, but i would also ask this question, if the american people are -- the democrats generally believe that access to the welfare system and pushing people into that system is somehow the american dream, having group up in that, i would -- grown up in that, it's the opposite and hard to leave that system once you're involved in it. what we should be doing is telling people to come here legally and be able to work and get the benefits the legal way and 4 they don't, they get hurt in the process. it's unaccept and will glad we're taking action. larry: claudia tenney, on this point and elon clarified again today, he's not talking about benefit packages, just waste, fraud and abuse inside these entitlements, which sensorineural normouse number.
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we can control and it's less than 75-08%. >> that's mandatory and rest is discretionary and most we need to attack the spending side and by the way, fraud, waste and abuse is the problem and look at entitlements in new york state for example and 8348 people in the state of -- 8 million people in the state of new york rely on medicaid and federal taxpayers pay for that and money from the gram government and it's split half and half with the state and taxpayers are taking a hit on federal side and state side. what we're trying to do is streamline the government and trying to make it accountable and transparent and trying to get rid of these unnecessary programs that got creteed on the mandatory side and reduce and he cans tend where they're no longer necessary and millions and billions in saving ands taking out all the dei programs
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we don't need in the federal government. it's going to be nice to codify them and put into law. larry: here's elon clarifying social security. hang on. >> can you guarantee people concerned about interruption to benefits there will not be? >> yes, we'll be very careful with any interruption to benefits and only by tackling the waste and fraud and entitlements like social security medicare and can we actually preserve for the future. contract for foreign waste going for them. larry: he doesn't want to cut benefits and his point is important if you don't clear up the waste, fraud and abuse, that's going to wreck the program. people don't understand that. >> no, he's absolutely correct and auditory systems like to put
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out there that the people that generally deserve it and paid into the programs, they're the ones that are going to suffer the most when you do have social security checks for example that was discovered sent to ukraine and social security checks being sent to people 350 years olekowski. that is not normal and nor should it be acceptable and that's what we're looking at under the microscope and we're here to serve the mean people. that's what we're doing and -- american people and i can assure the american people and older people on fixed incomes that we are fighting for you do don't pay attention to a lot of the propaganda you're hearing out of the left. that's not the case. >> trump going to cut taxes for social security and going for them and more. larry: no, no. terrific point and very important point. thank you, ladies. congresswoman claudia tenney and
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larry: how are you running your other businesses? >> with great did i have cull it. i mean -- larry: there's no turning back you're saying? >> i'm just here trying to make government more efficient, eliminate waste and fraud. larry: there you have it. tough moment in the interview and again, he was very honest about the story. joining us now to talk about that and other things, miranda devine, ace new york post columnist and fox news contributor liz peek, syndicate l columnist and fox news contributor. ladies, thank you very much. my point here tesla has bumps in
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the road this year and here's the thing. they've thrown the book at him. they've threatened his life on the internet and they have fire bombed his charging stations shot holes in one of his dealerships in oregon and picketing and demonstrating here at the tesla dealership. trump has been steadfast and backing and elon had a rough go of it. they're on the cherished entitlement pigs at trough going to be taken away under elon musk and he won't relent miranda. he doesn't have to do this and lord knows he told me >> it does and he's a true patriot. he's the richest man in the
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world and doesn't need this money unlike what elizabeth warren and the rest of the democrats pretend he's out to make a buck for himself and he doesn't need the headaches and his other businesses are suffering and this is focus the ire of the left on him. his life is really in danger and i saw one of the activists talking about mangioni, the ceo killer and liking that to the mood and vibe against tesla and against elon musk. they despise him and democrat haves activated their street fighters and he's targeting their dirty money that's gone to pay for their street wars and protests and left wing activism and it's the primary scream of animal being cornered, and it's really a life or death struggle between them and elon.
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larry: what else ig is he's transparent. he could have made up some rigamaroll. >> you're totally right and they're honest and they're celebrating the family that he's bloomburg going to talk about them from $135 billion from that and this is the guy that put evs on the map and he was a hero to the left and electric vehicles and provided star link at his own cost to ukraine to keep them in the war. this is a good guy. what is he trying to do? he's trying to get rid of, what, half a trillion dollars -- up to half a trillion of waste and fraud in the federal government because it is going to put our country into bankruptcy.
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he's being revealed and subtle going for washington and it's on the internet and every day. here it is, folks. >> this game in fact and roll this tape. larry: one more time on entitlements and democrats and illegals and illegals voting and one more time, roll tape. >> the waste and fraud in entitlement spending, which is all of the -- most of the fraud is entitlement spending and that's the big one to eliminate. half a trillion, 6, 700 billion a year. that is also mechanism by which the democrats attract and obtain them and going for voters. larry: that's something and more of a political guy. he's nailed it and getting him
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in here and looking for them and going for them and illegals and >> no one would do that and such a burden on the he's the smartest guy in the room and figured it out and obvious what they were up to. larry: liz, one other point i want to make and this is the budget side of this and we've
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had these studies before, more recently gao study and elon and i talked about this briefly. russell vought, omb director was clear about this on yesterday's show. they're going to take elon's savings and tie it up into a package of rescissions to rescind the authorizations and not spend the money. this only requires simple majority in the house and senate. only 51 votes in the senate for example and they aim to do that quickly. they may do it for fy25 and they may come back and do more in fy26. this is a key point. this is not a economic exercise. this thing is not going to gather dust on the shelf. they are operating this thing to reduce the budget to bend the budget baseline down and stop with in effect taking away the check and ripping up the check. >> we have a $1.1 trillion
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deficit up 390 billion from the year before and all this chatter under joe biden's administration is how we're bringing down the deficits and trimming the budget, it's not true and getting worse every single day. the only thing i like is a doge dividend. you're not in favor of that. sending out a check for at least $500 or $5,000. before the med terms and republicans win the house. larry: i want a doge dividend. >> i do too. where do i appellee? larry: where do i apply? mclaughlin polled on this. >> how could it not? free money and making it tangible. not the big budget talk and it's here. you get some taxpayer money back and only goes to taxpayers. larry: liz, i've never met a tax cut i didn't like. >> exactly. larry: any kind and any time. miranda devine, liz peek, thank you so both of you.
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you think those phone guys will ever figure out how to keep 5g home internet from slowing down during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy birthday. happy birthday... -it's... ...to her. -no, it's me. have your cake and eat it, too. don't settle for t-mobile or verizon 5g home internet. get super fast xfinity internet you don't have to share. forty's going to be my year. larry: just ask you one thing, 20 seconds, nothing to do with -- nothing do touchdown
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catch do with doge. can you rescue the as in and outs? >> yes, we're bringing them back in a few weeks. larry: not near enough attention being paid to this, youre going to get them back 124 >> we're going to get them back. larry: god bless. larry: i just love that and it was in the riff but i love that. mr. kevin cramer, very dear friend. senator cramer. not nary enough attention given to astronauts that were left up in space and joe biden left them dangling in space. that's why i asked elon because i know because of spacex and so forth, and i was so happy he gave that answer. he didn't bat an eye. just gave that answer and the next couple weeks and i just think that's thrilling. you know, god bless those astronauts. we have to save their lives. >> well, we do, larry. those astronauts are professionals and trained to stay up there for a listening time but the expectation is they're supposed to come home sooner, and the space station doesn't have enough astronauts
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to man the entire station and gets complex but to the point of elon, it's one more illustration of what a good guy he is and people that don't like elon have never met elon musk. he's truly one of the most gentle creatures and sweet men that really -- he's exceptional in so many ways it's hard not to see him as something different than the rest of us because he is different than the rest of uses. he's a really good guy. like he's a brilliant and thoughtful guy. pictures of the astronauts, they've gotten so skinny and i don't know what's happened to them. i hope elon can do it in the next couple of weeks because it would be a great thing for the country and a humanitarian thing and as you noted, shame on people attacking elon musk.
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>> it's a sacrificial mention. they're sacrificial to him. nothing ever happens, senates torr. no action was take and this time as elon talked to me about this omb director. we have to act within a couple of days and people that have a concern here or there about the logic and working quickly and together we have larry: i think
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a lot of people don't know what rescission is. >> take the word rescind and you're rescinding the authority to spend that money on that particular program. then that gets put on the balance sheet on the other side of the ledger. let's face it and going a long way and getting $50 million in a rescission or $100 billion or $50 billion. this was tried in the first trump administration with $15 billion and couldn't get the votes in the senate to do it. larry: canadian prime minister, king, is that his name? >> doug ford. larry: sorry, ford, he's not a king, he's a ford. okay.
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he decided to put extra surtax on electricity and then trump banged up the aluminum and steel tariff to 50% and sure enough within hours, the guy relented and took it down. it's reciprocity and tough in negotiations and going to take it on the last minute. >> i know doug ford really well and knowing donald trump and they're very similar people and getting along very, very well and doing that for the reality of this and going for the kansas city chiefs i didn't do indian u.s. and infrastructure and supply chains and it's going for them and going for them to tell a group of reporters at the punch bowl that a news conference event conference going for them and going to start a war and got to bring live ammunition and that's what it is. larry: senator ken cramer, well
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put. good to see you fit as a fiddle. folks, i'll be right back with hi last word.
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larry: once again, hat's off to elon musk is to clean up the government and then hat's off to liz macdonald. liz: hat's off to you, larry. why didn't they protest th

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