i'm larry kudlow. this is "the kudlow report." top story tonight, team obama unveils a new ad personally demonizing mitt romney in order to disqualify him. like all those other personal attacks, this one will backfire. obama is running an amateur campaign, and he is the one getting hurt. the polls are showing it. and he's badly splitting and dividing his own democratic party. and mitt romney does not want a grand bargain deal on the so-called fiscal cliff because a lame duck democratic congress and a lame duck democratic president. why do it? instead, romney will want his own program to go into place in his first 100 days to reignite economic growth. and yes, the dow climbs 125 points despite some bad consumer confidence numbers, a weak factory report, but i still fret the dollar deflation is in the air, may harm stocks. so here's the question i have. will the u.s. fed come to the rescue of europe by swapping more dollars to the europeans, who are literally begging for dollars? and we have some breaking news. the feds are investig

i'm larry kudlow. this is "the kudlow report." our top story tonight, the humpty dumpty economy. all the president's horses and all the president's men cannot get us past a 2% growth rate, stimulus, printing money, nothing, tax the rich. poor numbers today on the adp jobs. poor numbers on factory orders falling. it's all going the wrong way, and middle class incomes, they're also falling. why? because presidential policies undermine free market capitalism at every step. we're going to get into it in just a moment. >>> also this evening, just as president obama lands back in washington from afghanistan, immediately heads to two high dollar fundraisers. chris christie has essentially declared his candidacy for vice president. we are going to show you the take. personally, i think christie would make a hell of a good vip. we will debate whether he is just the hammer that mitt romney needs to whack obama and biden. >>> and a new congressional study out on obamacare shows businesses are going to drop employ

i'm larry kudlow, we will be right back. right back. (female announcer) most life insurance companies look at you and just see a policy. at aviva, we do things differently. we're bringing humanity back to life insurance. that's why only aviva rewards you with savings for getting a check-up. it's our wellness for life program, with online access to mayo clinic. see the difference at avivausa.com. >>> the obama administration released the new rules for fracking on federal land. in a moment you'll hear from wyoming's governor about it. he says the states are being overrun by the feds. but first up our own brian shactman sets up the story. good evening, brian. >> reporter: the energy sector has been waiting for this. the key take aways from the white house new rules on fracking. companies need pre approval to fr frack. no company can least land and do it. companies will need to disclose what chemicals are in fracking water, but after the job is done. originally it was before a job but the industry lobbied to change it and they succeeded. la

i'm larry kudlow. this is "the kudlow report." the president comes out in support of same-sex marriage. okay. my take, it's an opportunistic distraction from his economic record and the fiscal issues that are front and center that are going to determine this election. one of seven unemployed are underemployed. like growth at a stagnant 2% and his war on business, energy, and successful investors. those are the issues. also this evening, any reports of the tea party's death are greatly premature. angry voters throw senator richard lugar out of office after 35 years. a resurgent tea party tidal wave should send a message to republicans and democrats. >>> and ahead, newly minted republican tea party candidate for senate in indiana richard murdock, and tea party statesman, south carolina's senator jim demint. we have them both. and also this evening, ceos slam tim geithner to boost growth by not raising the dividends or the capital gains tax. they slam him. we'll debate him. >>> and you know what, stocks v

i'm larry kudlow. wooem be right back. >>> after failing in the senate 99-0, president obama's budget proposal hasn't received a single vote of support in all of congress, neither the house, nor the senate, neither republican nor democrat. the total is 513-0, both houses. it's been 1,113 days since the democratic-controlled senate last passed a budget on anything. but with the country's debt continuing to soar and a massive tax hike approaching, i ask where is the leadership in washington to put economic growth above party or politics and someone steps up and says let's make a deal. let us have some kind of pro-growth compromise on taxes, spending and the debt limit. there is nobody more qualified to talk about this, oklahoma republican senator tom coburn, author of the new book "the debt bomb", a bold plan to stop washington from bankrupting america. senator coburn, as all, thank you for coming on. i just don't understand how all the democrats in the senate can walk away from their own president's bud

good evening, i'm michelle caruso-cabrera in for larry kudlow as he takes a few days off. this is "the kudlow report." radio talk show host lars larsson joins me as my special get tonight. the president is once against at another fund-raiser saying he has a new feeling about america by doubling down and attacking mitt romney, big business and private equity. this as team obama unveils two ads touting his record on medicare and veterans. no mention of obamacare. but things can't be good for the president when he loses 42% of the vote in his own primary against uncommitted. happened in kentucky. 40% to a nobody in arkansas. we'll get all that tonight. also tonight, if ever there was a sign that the market thinks a global slowdown is heading this way, today was the day. the euro plummeted head first, nearly 2 cents in the last four hours, which in currency is a monster move down. the dow closed down only 6 points but only after climbing out of a hole and hp confirmed it's lay laiing off 27,000 of its workers. the obama campaign reupped attacks against mitt romney's business re

i'm larry kudlow. this is "the kudlow report." our top story today is like seinfeld, it's about nothing. nothing happened in the white house about the impending fiscal cliff. just as a worried, stocks got slammed. one guy trying to save the market and the economy right now, that being house speaker john boehner. please take a listen. >> we should not wait until the 11th hour to address these issues. the only ones talking about drama or breeinksmanship are th democrats across the aisle. >> investors are very nervous about this. the market plunged today, 156 points on the heaviest volume in two years, the s&p down more than 2%. look at the ten-year bond rate, record lows, 1.70. it was above 3% last july. gold in a bear market plunge still down nearly 20%. these are worrisome deflationary signals and we're going to have a powerhouse market panel to go through it. instead of dealing with the impending crisis on tax reform, senate democrats concoct a ridiculous act to chase down americans living abroad for

i'm mark simone filling in for larry kudlow.a dire warning from the congressional budget office tonight. unless congress addresses the end of the year tax cuts, a recession could grip washington. senator udall, if there were no republicans, just democrats, what is it you'd want to enact? >> well, that's never going to happen with all due respect to my republican friends but i would want to put bowles-simpson in place immediately. i was a businessman all of my life, i know you have to have a balance sheet. usa inc. is no different. we're going to simplify the tax rates, generate more revenue. we make the right kind of investments in the short term in infrastructure and our people and it leads to innovation and our economy. >> if i couldn't get re-elected bowles-simpson, i could live with that. >> there are lot of things that people object to with bowles-simpson. your thoughts on that. >> it sounds great to put forward simpson-bowles but the way this process works is the house has shown they're willing to be held accountable. they

i'm larry kudlow. "the kudlow report" will be right back. back. it's showtime for savings. excuse me, sir, how much are you charging for your popcorn? $4.00. $4.00. i'm just going to let the people have a choice. $1.00 for popcorn. come and get it. guess we'll make it two. you got it. progressive showed me my options, i'm showing you yours. $1.00, fresh popcorn. enjoy the show. you should have an option, just like with car insurance. that is a really great price. >>> congressman ron paul is not afraid to stir up trouble. he's going to be my special guest in just a moment. but while rick santorum came out to endorse mitt romney last night, you're about to hear on ron paul on why he will not endorse mitt romney. paul still hunting for delegates. but first he led an abolish the fed hearing today on capitol hill. eamon is back. >> don't forget ron paul is still in this race. here in washington there's been a lot of speculation over the past couple of days of exactly what ron paul hopes to accomplish by staying in this race, and one of the things people are really focused on is

i'm michelle caruso cab her nkc in for larry kudlow.ss gordon chang, peter navarro, author of "death by china. good to see you. gentlemen, john batchelor comes in, highlights the article in "the atlantic" is china growing at 6%, 8%, fall below 8%? and "the atlantic" says they have no growth. zero. is it possible that china has zero growth right now? >> it's also probable. >> probable? >> yes. if you look at april, electricity production increased by 0.7% and the growth of electricity, historically outpaces the growth of the underlying economy, they can't be growing more than zero. there are other reliable indicators that say less than zero. >> peter, i want to come to you. we are right now questioning the idea that we can trust the chinese numbers, connect this to the united states. let's do worst-case scenario. do we have a plan "b?" say they are flat? what is the worst-case scenario? >> we all have to recognize the structural imbalance in the global economy. u.s., europe and china china is a parasite the last ten years, using unfair t

i'm larry kudlow. this is "the kudlow report." >>> our top story tonight -- the president grades himself an incomplete on the economy with 2% growth, over 8% unemployment, a vanishing labor force and total debt that now equals our entire gdp, i'm going to grade him on a bell curve by giving him a d-minus. that's after 3 1/2 years, he'd be in danger of being thrown out of school. our panelists will weigh in. >>> also tonight, team obama continues to call mitt romney a vampire capitalist. what kind of businessman is president obama? a crony capitalist playing with taxpayer money. not just solyndra or light squared but a program run by a vacation buddy the president has received a $5.9 million federal grant. >>> plus, business and the economy needs a deal on taxes and spending and the debt limit. we need it now before the economy goes cold, before businesses stop hiring. i saw ronald reagan and tip o'neill make great deals. bill clinton and newt gingrich did it. chris christie in the new jersey democratic

i'm larry kudlow. this is "the kudlow report." team obama unleashes an attack ad, calling mitt romney's former private equity company bain capital a, quote, vampire for shutting down an unprofitable steel mill. but it turns out as president obama comes to new york on a taxpayer-funded ride, one of obama's millionaire campaign bunninglers an executive at bain capital. bain capital, right when that mill was shut down. romney himself had already been gone for a couple years to run the winter olympics. in just a moment, our weekly debate. i'm going to ask the dnc's communication director brad woodhouse and his colleague at the rnc sean spicer whether this latest volley in the war is credible. >>> chief economist austan goolsb goolsbee. not create many new jobs. that, folks, is the real issue in the campaign. our political panel is going to weigh in. >>> also, questions about the scandal surrounding jpmorgan. heads have already rolled. is jpmorgan a perfect example of the bank that is too big to fail, too big to manage, and therefore s

i'm larry kudlow. we'll be right back. ♪ ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer retirements. ♪ ask your financial professional how lincoln financial can help you take charge of your future. ♪ only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the spef hertz. >>> i'm kayla tausche from the newsroom. the long awaited facebook ipo is upon us. the social network today filing to offer 337 million shares between $28 and $35 apiece. a deal that would raise $5.6 billion for facebook and $10.6 billion total at the midpoint of that range. now starting monday, facebook will go full-court press as it markets the deal to potential investors starting in new york and ending in california. as it approaches the trading debut on may 18th. larry, back to you. >> many thanks, kayla tausche, we appre

i'm larry kudlow. this is "the kudlow report." so get this, fascinating, former president bill clinton blasting current president obama. he's calling him an amateur. clinton said you don't know how to be president, the economy's a mess, america's lost its aaa credit rating. heck, i couldn't have said it better myself. but this is tough stuff from a brand-new book. and if that weren't bad enough, it turns out that obama forgot how bad the recession was. but you know what? america hasn't forgotten. my question is, do you have any idea how stalled out the recovery is, mr. president? >>> and of course, jpmorgan's $2 billion bond bet gone bad. jamie dimon responds to his critics a short time ago. take a listen. >> we know we were sloppy, we know we were stupid, we know there was bad judgment. >> all right. we're going to have much more of nbc's david gregory interview with jamie dimon later in the program, but i want to ask right up front, if a bank like jpmorgan is too big to fail, does that just mean it's too big, and therefore to sa

i'm larry kudlow. in this half hour, so-called stimulus.shing from the workforce, $15 trillion in debt, all of this obamanomics. what were they thinking? i take on former treasury secretary larry summers. he was one of the architects of obamanomics. >>> also this evening, talk about ridiculous regulation from washington. there is a pea-brained proposal to add being pee shy as a disability and thus forcing businesses to redo bathrooms in order to comply with the americans with disabilities act. when will these regulations stop? we will flush that out. >>> but first up, breaking news tonight on the story that will impact trading tomorrow. jpmorgan down almost 7% in after-hours on egregious trading losses of $2 million. as a result, they expect to record a second quarter loss of at least $800 million. that was a loss of $2 billion and the loss they're going to record is $800 million. u.s. futures markets already taking a hit on the news. let's turn to our ace investors to get some reaction. we have lee munson chief investment officer at the po

i'm larry kudlow. this is the kudlow report. we begin this evening with breaking news. the cia thwarted an al qaeda plot to blow up a jet liner what. do you have for us on this story? >> u.s. officials saying late this afternoon they had foiled that plot, which apparently developed in yemen. the plot seems to be similar to the underwear bombing we saw in 2009. that attempt. now u.s. officials and government agencies across town here in washington are coming in with more details and more statements. we'll bring all of the late toast you a little bit later on the show. >> all right. thanks very much. >>> also this evening, team obama unveils its first ad since the official start of the campaign. the ad is called "go." so of course, we ask go where? so called economic recover vi stalled at 2%. job growth anemic. five trillion in debt and counting. this whole election is going to be a referendum on president obama's economy. our weekly debate, shawn spicer of the rnc will go at it in a couple minutes. new investor poll numbers. we're unveiling them tonight. they show advant

. >>> here is larry kudlow. >>> good evening, everyone.sident obama makes a surprise trip to afghanistan on the first anniversary of the u.s. raid that killed osama bin laden in neighboring pakistan. this is the president's third trip to afghanistan since taking office meeting with president hamid karzai. we're going to go live to the president momentarily as he addresses the nation from afghanistan. the visit, a complete surprise. it comes at a delicate time in relations with the united states and afghanistan. let's go to cnbc's chief washington correspondent john harwood. good evening once again, john. >> good evening, larry. this was a very well-kept secret by the white house. there was a tweet earlier today from someone connected to afghan television that triggered a denial from the white house that the president was in kabul. he may not have been in kabul at that time, but he was headed that way. and the one-year anniversary of the death of osama bin laden is a powerful moment for him. he also, of course, his aide said on the way over

i'm michelle caruso-cabrera in for larry kudlow ease takes a few days off. this of course is "the kudlow report." radio talk show host neal boortz joins me as my special guest tonight. welcome to the show. >> thank you. it will be fun. >> it will be. tonight with the nation moving dangerously close to falling off a fiscal cliff a new report says the actual deficit in this country is nearly four times what the government says it is. but the president says he's doing all he can to control spending. so is it a case of fuzzy math or is there a real spending problem? also the threat of an exit by greece from the eurozone, a fracturing of the eurozone causing investors to suffer paralysis. but could the mess in europe be leading us to even bigger problems? is it another lehman moment on the way? we'll discuss. president obama doubling down on renewable energy saying it will help stimulate the economy and create jobs. but is this a pipe dream? and is the white house energy policy a failure? we'll take a look. first, though, could a plunge off the u.s. fiscal cliff b

i'm larry kudlow.n this half hour, stocks got slammed today over greek election fears, the threat of a meltdown, risk of spanish banks, and worries over another weak jobs report coming out friday in the usa. if we were knocking out 250,000 jobs a month, by the way, we wouldn't give a drachma about greece. but alas, we are not. also driving down stocks, investors are scared about an irresponsible congress doing nothing to spur the economy by extending the bush obama tarks cuts. i'm calling them bush obama because mr. obama signed an extension in 2010. also this evening, i've been sounding the deflation alarm. everybody in the world wants dollars, including european companies and depositors. somehow or another, the world is going to have to have more dollars to stop a downright deflation. but first up, another day of sharp losses for the markets. the dow drops 161 points for the day while all the major detections fell more than 1% across the board. a lot of investors think calamitous financial events in

i'm larry kudlow. in this half hour, after another batch of anoemic statistics today, i have to ask this question, is it possible that we have entered the front end of another recession? is it possible? and why doesn't president obama get that threat? plus the dow is off 6%, nasdaq down 7%, commodities dropped 11%, all in the month of may. not good. we're going to do some stock market work later on. >>> but first up, it's absolutely panic time for democrats, panic. team obama sending in the bill clinton cavalry to wisconsin for the tuesday election. it's not going to work. scott walker's going to win pulling away and get this factoid, government unions in wisconsin, government unions in wisconsin have lost 50% of their membership in just the past year that scott walker has initiated his union fiscal reforms. so let's talk about this. joining us now, democratic strategist jillian epstein, and matt lewis at the daily caller. jillian, i want to start with you -- i know you're not going to agree with me, b

in this perks larry kudlow notes that with respect to this taxmageddon, the increase in everybody's taxestend of the yeef, that it is the uncertainty of it all that is preventing the investment by business which would create the jobs that we would all like to see. and i'd just like to quote three paragraphs and a couple of sentences and a fourth. he says, "the uncertainty over the bush tax cuts already has caused a number of business leaders to threaten a hiring freeze and a dampening of investment, until they can figure out the after-tax cost of capital and the rate of return on investment. hiring has slowed noticeably in recent months, and a number of wall street economists are move tmarking down the annie nick recovery even more suggesting that 39% growth at the end of the last year, which faltered to 2% gloaj in the first quarter, could be even less in the pood ahead." then he goes on to say, "a bunch of c.e.o.'s have even formed their own march on walking. 18 of them just wrote to the tim think geithner begging thoim oppose tax rate hikes on dividends and capital gains, from 15% to n

kudlow report." i'm dennis prager filling in for larry. government spending gone wild again.espite the fallout from the gsa's lavish conference spending, you remember that, there is news tonight that the ninth circuit court is now scheduled to take what could be a million dollar trip on the taxpayers. not dime, but million. here now is iowa republican senator chuck grassley, the ranking member on the senate judiciary committee. senator grassley, good to be with you. >> thank you, dean. >> so let me ask you here. the problem with the ninth circuit court going to hawaii is what? >> well, first of all, judge gibbons, the chairwoman of the budget committee of the judicial conference has warned a lot of judges you got to be careful how you spend your money because they're already laying people off. they've had their budget cut 5% because of the recent fiscal problems. so then we have this ninth circuit going to maui in hawaii to have a conference. we think it's going to cost about a million dollars. we've sent a letter asking a lot of questions so we can get more detail. but you w

kudlow report," the tea party rise again. florida governor rick scott is going to join me and i take on president obama's former chief economic adviser larrynd ask him what went wrong. "kudlow report" up next. i went to a small high school. the teacher that comes to mind for me is my high school math teacher, dr. gilmore. i mean he could teach. he was there for us, even if we needed him in college. you could call him, you had his phone number. he was just focused on making sure we were gonna be successful. he would never give up on any of us. ortho weed b gon max. with a new continuous spray wand. so you can kill invading weeds down to the root. without harming your lawn. guaranteed. ortho weed b gon max. >>> seconds away on the "kudlow report," breaking news, jamie dimon setting jpmorgan chase up for huge dividend losses. ceo jamie dimon was surprised as the rest of us. and why is harry reid and the senate democrats