here now is larry kudlow. >> good evening, everyone. welcome to this special edition of "the kudlow report." two major breaking news stories on this momentous day. the supreme court raised taxes on every american on the legal premise that obamacare is actually a tax. minutes ago, attorney general eric holder held in criminal contempt of congress. for obamacare, 20 new or higher taxes across the board. bad for economic growth. bad for job hiring. bad for investors and bad for families trying to earn a living. this $2.5 trillion spending entitlement could conceivably bankrupt this country. the architect of obamacare or one of them, zeke emmanuel goes up against greg abbott live in a few minutes. breaking news for the first time in american history, an attorney general has been cited in criminal contempt of congress. take a listen. >> today's vote is the regrettable culmination of what became a misguided and politically motivated investigation during an election year. >> all right. that's mr. holder's take. tonight, america's mayor rudy giu

i'm larry kudlow. this is "the kudlow report," the top story, scott walker landslide. historic election was a grassroots, taxpayer tea party revolt to curb public union benefits and monopoly bargaining power, governors will heed the pull to hold down entitlements, and as rails, the dow had its best day of the year, up 287 points, and tmarkets love the s walker win. investors see balanced budgets without income tax hikes, see it going national. san diego and san jose, pass their own pension cutbacks. you heard art hog an last night. predict a scott walker rally. he has been prevent right. now what happens? he will tell us. also this evening, my interview with florida governor jeb bush. what does he think of the walker win? what does it mean for mitt romney's campaign? tax cuts and president obama's attack on his brother's legacy and how he will do one thing that president obama has not. lead. plus, team obama has been in damage control most of the past 27 hours from an interview bill clinton did on cnbc

i'm larry kudlow. this is "the kudlow report." our top story tonight, two stinging defeats for the president by the supreme court. in a 5-3 ruling the court backed a section of arizona law that allows police to check the immigration status of the people they stop. tonight you will hear exclusively from florida's senator marco rubio. the court reaif you remembered the citizen united decision to allow unlimited political action donations. and the big one, obamacare comes thursday. also this evening, cypress want as bailout, spain wants mucho dineiro. here's what i think caused the market downturn. a new york times story over the weekend. chinese data masks the depth of the slow down. brian shactman, what do you make of it? >> welcome back, larry. china, europe, everyone wondering to what degree things slowed here. all of these factors pushing the market down. the dow had its second triple digit loss in three sessions. the s&p back to 1300. the nasdaq down almost 2%. larry, more details on the sell-off coming later in the show. >> ma

i'm larry kudlow. this is "the kudlow report." our top story tonight is my exclusive sitdown with the house speaker john boehner. he told me house republicans will pass a full tax cut extension in the next month. but he, boehner, does not believe president obama is even going to pick up the phone to talk until after the election. and that means markets and business could be in for a rough summer of uncertainty. and i ask the speaker this. take a listen. do you think president obama is an amateur when it comes to compromising, to leadership, to making that deal? is he an amateur? all right. you'll see the interview in its entirety. that is moments away. plus the president tonight on his way back from his record 153rd fund-raiser hobnobbing with hollywood. now democrats are running scared that president obama could lose the election over the economy. the clinton pro-business wing may be deserts the party. blue collar reagan democrats in swing states like wisconsin deserting the party. even "time" magazin

i'm larry kudlow. welcome to a special edition of "the kudlow report." you'd think that over a trillion dollars in spending stimulus and two and a half trillion of fed pump priming should produce an economy a whole lot stronger than 69,000 jobs, or just 1.9% gdp. there's got to be a better way, and right now to save america, the president and the congress should immediately come together to extend the bush-obama tax cuts, mandate the keystone pipeline project, bipartisan for once could save america's economy. that's my take. now, stocks look like a disaster. the dow off 275 points. worst day of the year. sometimes after things look the worst and the carnage never stops, it can be a great time to buy. first up this evening, both team obama and team romney went at it on the jobs report. romney went on the attack. cnbc's chief washington correspondent john harwood joins us with all the details. good evening, john. >> this was a jobs report that hit the obama white house hard because it affirmed a spring slowdown, the third in a row at a critical point in th

i'm larry kudlow. this is "the kudlow report." our top story tonight, polls increasingly showing his momentum growing. mitt romney took his pitch to the business round table quarterly meeting. he told ceos to focus on what president obama has done. not what he says he'll do. he called obama's words cheap and labeled obama the most anti-business, anti-jobs president in modern america. whoa. in my opinion, mitt romney is the most conservative republican to run for president since ronald reagan and barack obama, the most liberal left democrat since george mcgovern. we'll debate. >>> jamie dimon gives a polished, glib and well rehearsed, occasionally contrite testimony in front of the u.s. senate. tonight we ask, has he become the poster boy for implementing the volker rule for banks investing their own money? it's not what mr. dimon wanted and possibly a breakup of too big to fail banks going back to the old glass stegal act. despite his slick testimony the dow lost 77 points. retail sales fell. it's a ba

i'm larry kudlow. this is "the kudlow report." our top story tonight, president obama still worried about europe. not only because it can bring down the u.s. and the world economy but because it could stop his re-election. we'll show you numbers. so far europe's woes have had very little effect on our economy and is a poor excuse for our anemic private sector economy. even after europe bailed out spanish banks, the dow fell 143 points in the red. everybody's just back to this sunday's greek election. joining us tonight, the architect of the greek bailout who said that a greek exit from the eurozone would destabilize the entire world economy. item number two tonight, the president said the private sector is doing fine. three hours later flip-flopped to say the economy was not doing fine. we'll show you how major presidential flip-flops are debtry member tall to your political health. fatal even. president obama hates millionaires and billionaires but not as much as the occupy wall street hooligans. we'l

he's an old friend. >> we owe it all to larry kudlow. her book is out now. e happy warrior's guide to the great american comeback. monica, thank you for being with us. governor dean, thank you as well. another programming note for monday when larry returns, once again republican senator marco rubio of florida is his guest. meanwhile tonight developing news in the middle east. reports that syria did shoot down a turkish war plane. will the situation escalate? what might it mean for the price of oil? "the kudlow report" will be back. stay in the moment sanya focus lolo, focus let's do this i am from baltimore south carolina... bloomington, california... austin, texas... we are all here to represent the country we love this is for everyone back home it's go time. across america, we're all committed to team usa. put me at 5 timesd out my greater risk of a stroke, my first thoughts were about my wife, and my family. i have the most common type of atrial fibrillation, or afib. it's not caused by a heart valve problem. i was taking warfarin, but my doctor put me on

i'm larry kudlow. "the kudlow report" is moments away. >> we don't trade on rumors. we invest in facts. and the facts from some of the ceos i talked to are saying, jim, i'm giving up. i can't find why my stock should go down because of spain, italy or greece. there's always a bull market somewhere. i promise to find it for you. i'm jim cramer. see you tomorrow! hey, larry, what do you have for us tonight? >> jimmy, facts are hard to come by. people should do nothing until this european craziness begins to clear up next week. do nothing. good evening, everybody. i'm larry kudlow. this is "the kudlow report." our top story tonight, battleground ohio. president obama and mitt romney hold duelling speeches on the economy, jobless claims are rising to a worrisome number. he doesn't listen to the good advice of bill clinton on advising tax cuts or clinton advisers who want a new message. it's the same old same old. the stump speech has been said to be in the works for weeks. anti-investor, anti-business. oh, my gochltd we have seen it for three and a half years. dueling sp

i'm larry kudlow. this is "the kudlow report." our top story tonight, we will know in about two hours whether grassroots voters in a state as midamerican as you can get, wisconsin, rise up against profligate government unions and out of control tax payer funded entitlements. for only the third time in american history, a sitting governor, courageous scott walker, faces recall. we're there live. also this evening, is bill clinton doing everything possible to sabotage president obama? first he called romney's record sterling. last night, a direct jab, clinton couldn't help himself by boasting his four budget surpluses. moments ago, in an exclusive interview with maria bartiromo, the former president advocated the extension of the bush tax cuts to curb a recession, another jab at obama. take a listen. >> i don't have any problem with extending all of it now, including the current spending levels. they're still pretty low, the government spending levels, but i think they look high because there's a recessi

i'm joe kernen here for larry kudlow. tonight i'm joined by mark simone, nationally syndicated wabc radio host. i had hugh huet and lars larson. we'll get to you in a second. our top story, moody's downgraded 15 banks. the dow sliding 250 points because investors are seeing the summer stall in black and white. jobs just aren't being created. not here, not in europe or china. even just the whisper of a moody's downgrade of major world banks sent traders to the sell button. first in business worldwide, we say. also tonight mitt romney lays out his ideas of immigration reform. president romney would not sidestep congress to secure the borders. he calls it an economic necessity. first a 250-point sell-off in the market. late this afternoon moody's cut the ratings of 15 major international banks. seema and mary have the stories. mary? >> joe, moody's long anticipated downgrades of 15 banks happened after the markets closed today. cutting the long term ratings on the banks citing exposure to the volatility and risk of outside l

i'm larry kudlow. we'll be right back with friedrich hayek. oh, we call it the bundler. let's say you need home and auto insurance. you give us your information once, online... [ whirring and beeping ] [ ding! ] and we give you a discount on both. sort of like two in one. how did you guys think of that? it just came to us. what? bundling and saving made easy. now, that's progressive. call or click today. >>> the fast-approaching fiscal clef, one of the biggest threats to our economy right now. and today's "wall street journal" editorial drills down on the real threat, which is bernanke's cliffhanger, that being the fiscal danger of a tax hike next year. but not spending cuts, they're part of the solution. here's my point. smaller government equals -- why doesn't team obama figure this out. we have contributors chad bernstein, former chief economist for vice president joe biden. phil kirpin, jared my friend, if more spending was the answer, then greece would be an economic superpower, so i want us to fo

i'm larry kudlow. i hope to see you a week from tonight.rregular heartbeat put me at 5 times greater risk of a stroke, my first thoughts were about my wife, and my family. i have the most common type of atrial fibrillation, or afib. it's not caused by a heart valve problem. i was taking warfarin, but my doctor put me on pradaxa instead to reduce my risk of stroke. in a clinical trial, pradaxa® (dabigatran etexilate mesylate) reduced stroke risk 35% better than warfarin. and unlike warfarin, with pradaxa, there's no need for regular blood tests. that's really important to me. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition like stomach ulcers, or take aspirin, nsaids, or blood thinners, or if you have kidney problems, especially if you take certain medicines. tell your doctor about all medicines you take, any pla

i will see you tomorrow. >>> larry kudlow told you last night that he's undergoing back surgery. all went well. i'm joined by hugh hewett, author of the grief against obama. and this is weird and i'll tell you why it's a little surreal. i have hugh hewitt and lars larsson. >> goes back to the d.c. comics. good to be here. >> am i paying you back? i'm on your show monday night a lot. >> just keep coming on. the radio audience loves you every single monday. >> i'm so happy to have you here for a whole hour. you're going to have to do some of the heavy lifting. >> with jesse, i'll let you take the lead. >> i'm worried about jesse. tonight, the europe, the economy, what's an investor to do? don't worry. we've got the play book on how to make money in these uncertain times. and if you think taxing the rich is the answer, some startling numbers ahead. and what do democrats and republicans have in common with the bloods and the crips. it's a little gansta government smackdown with -- do you know any of those? >> no. i don't think you want to know what you just said there. >> that's righ

the new larry kudlow. who did a brilliant job last night. >> thank you. rry ledge gend, they called t. they called larry bird that. i decided to call larry kudlow that. he'll be back. went through back surgery. he's comfortable, everything good, on plan. he'll be back soon. i think at the latest by next week. i was racking my brain trying to think about the last time procter & gamble was on, just last month, and there was something, remember, there was something, because i remember asking him why it didn't look quite -- there was some guidance. i thought it was on the revenue line. it was not quite -- i'm trying to think of it. this almost sounded familiar with what p&g is saying. exchange rates -- >> i don't know -- >> it shouldn't matter. you shouldn't sell the stock on it. it's sort of beyond your control. >> what happened they weren't expecting with exchange rate? the dollar? didn't seem to me like -- >> is it euro or -- >> the dollar -- >> the euro has held in there. who's caught by surprise -- >> on the relative base of the dollar, that doesn't do it

good evening, i'm larry kudlow. this is "the kudlow report." our top story tonight, the next 15 hours will be crucial. call it obamageddon. the support will hand down the decision on the signature obamacare legislation which many believe is an unconstitutional violation of federal power. you cannot find a man or woman in business, large or small, who hasn't complained that the tax, regulate and mandatory provisions of obamacare haven't held up their hiring and investment. they have. it's been a big drag on the economy. it's an unaffordable bankrupting federal overreaching entitlement. we'll look t it from every angle. the impact on business, markets and the election.ç mitt romney, by the way, just moments ago said this. take a listen. >> my guess is they are not sleeping well at the white house tonight. that's the way it ought to be. >> best selling author ed cline with the impact on the obama legacy and the impact on the market plus the world outlook investor extraordinaire bob doll. he'll help us interpret everything. first as the clock coun

i'm larry kudlow. this is "the kudlow report." our top story tonight, the scott walker wisconsin recall election. it pits imperial government unions against a governor defending a taxpayer revolt, all to prevent america from going bankrupt. mark my words, scott walker is going to win. america, fed up with government worker entitlements, mandatory union dues, pensions and benefits that are twice that of the private sector, all paid by taxpayers. we're there in wisconsin tonight. >>> also this evening, team obama already scared of the potential loss in wisconsin, unleashes another attack ad on mitt romney's economic record as governor of massachusetts. this is ten years ago. well, guess what? it's june 4th, 2012. what about stalled jobs and the anemic recovery today? there is still no plan, no coherent obama response, to poor economic data that's coming in day by day. the president at this hour at three, count them, three fund-raisers. this is his new job. >>> plus government overreach at its worst and most insidious. at least two s

good evening, i'm larry kudlow. the top story is the market ends the midyear on a tear. the do you up 278 points. the s&p up 33. europe was up 5% today. that is an amazing number. twice our increase, and it tells me something good could be going on over there and that something is tarp and a new banking structure, and is sensible plan. that's what markets wanted. i have to tell you we have to talk about this, it could be serious stuff, and is obamacare giving the irs unlimited power and intrusiveness into our personal and business lives? 4500 new agents, a $300 million budget increase. they can't figure out the tax code. and while obama is good for certain health sectors, it's tax, spend, and bank breaking deficit will do big damage to the economy if it ain't change. we have some numbers and we could be into this for a long time. plus is obamacare going to determine the entire election. get this, the first 24 hours after the supremes ratify, mitt romney got himself $4.6 million from 47,000 individuals. 2012 ends with a bang, no one better than brian shactman to join us w

i'm larry kudlow. forget marco rubio.re going to talk to a senior political insider who says two front-runners are emerging. their names you would never expect. we're going to tell you who they are and it's very interesting. also tonight, we've always been worried about red china rising. what about red china falling? we have one of the leading china experts who says their economy is much worse than we think. and that adds a more difficult threat on what it spells for the world economy. and then we've got two ace investors. they're going to tell us how to play it. i'll see if you can make a buck on red china falling. but first up, a new report says the democrats are flat out of cash in north carolina. and they're cancelling one of their premier convention kickoff events as a result day one of the dnc convention has already been cancelled. doesn't sound like much of a convention. ain't much of a good sign. just a couple of weeks left until those greek fill lars come back. you remember that. here now, the latest, wait a minu

i'm joe kernen, here for larry kudlow. i'm joined by lars larcentury, nationally syndicated talk show host. they talk about a radio voice. >> this is cnbc. i'm glad to be here as the president starts building the stone wall around the rose garden again. >> listen to the dulcet tones of lars larson. last night we had hugh hewitt. >> great guy. >> he is. i like the way your participates did that. the house oversight committee voted to sanction eric holder who now faces contempt of congress for failing to provide documents in the fast and furious investigation. this as president obama invokes executive privilege, something he railed against as a candidate and as president. who is the president protecting? you know, i'm going to ask what did the president know and when did he know it? in just a moment former speaker of the house and former presidential candidate newt gingrich. also today the dow closes down after ben bernanke signals that he's worried about the economy. so much that he extended operation twist. that wasn't eno

. ♪ >>> >>> i'm tyler matheson in for larry kudlow.treet and it's just the beginning. the big decision on obamacare next week. we've got your battle plan. >>> plus, who is president obama running against? is it the gop or the gdp? >>> and what would it take to dismantle obstructionist teacher unions some say is responsible for uneng educated,

i'm larry kudlow. in this half-hour, the dow had a rebound day, up 163 points.tell you the truth. i'm worried the greece split-up, the euro breakup, i don't know. i hope i'm dead wrong, but these are my worries. the stellar market panel will hopefully calm my fears. hopefully. also, jamie dimon testifies on what went wrong sfr jpmorgan. he could actually turn the tables on congress and we will show you how. but first, the campaigner in chief, that's what some are calling president obama as he's been on a fundraising tear. brian schactman back with details. >> obama has been a busy,ly zi man. this is a week's time. interesting to note, he basically stayed on the coast, not a lot on the interior of the country, which just kind of interesting. he chris crossed from the east coast all the way out to the west then back to baltimore, maryland today. now today alone, president obama scheduling six fundraising events. and according to estimates. that makes far total of 160 since he announced his re-election bid a lit more than a year ago. mark noerl says president georg

>>> i'm joe kernen filling in for larry kudlow. seconds away, breaking news.rads 15 banks. investors are scared of a global slow down. the dow

larry kudlow said he wouldn't touch the market with a ten-foot pole. what's going on? market sort of amplify larry's feelings, reminds me of trying to cross the niagara falls tonight. as soon as they said they'd tether him with a wire, things calmed down. i think that's happening this week. there's stabilizing efforts by the coordinator among the banks, i think people felt confident that, look, regardless of the outcome of the greek election, assuming it's not one sided either way, monday will come. markets will open. people will start getting back to doing business and i think towards the top end of a range here and seeing if we break out. >> it's comments over greece or qe3 back on the table, more bad numbers? >> a combination. they will do things to make sure that this market doesn't fall out of bed. people are saying you can't sell them here. >> have a great weekend. sue, back to you. >> thank you, gentlemen. >>> a quick reminder that the president is makes remarks on immigration from the rose garden in washington. you are looking at a live picture. at the podium i

larry kudlow just finishing a major exclusive with house speaker john boehner, he told larry the economyand the difference between the candidates couldn't be clearer. >> the best selling book on the "new york times" book list today, last two weeks, is called "the amateur" and it's about barack obama. do you think president obama is an amateur when it comes to compromising to leadership to making that deal? is he an amateur? >> i don't want to use deracive terms to talk about the president. he's never done anything. he's never created a job. never run a business. you know, he was a professor and a community organizer. and i think that's why his economic policies have not worked. they've not attempted to work with us to change their economic policies. that's why the election in november's going to be a referendum on his handling of the economy. >> and you can see all of larry's interview with speaker boehner tonight at 7:00 p.m. eastern. interesting picture of mr. boehner. we need a new one there. sue. >> i think we do need a new one, ty. that's must-see tv tonight. up next though before t

her roommate in college at rochester dated larry kudlow and larry and i have talked about this.e have talked about this many times. anyway, continue on. i apologize. >> our top story, eurozone finance minister is lending spain 100 euros to shore up its troubled banks. that's more than an initial audit that madrid thought it would likely need. they're desighing to overdue it, i guess, for starters and european stocks have responded positively with anywhere from 1% to 3% gains as you can see. u.s. equities are responding in kind after a pretty good week last week. so so far in june -- >> way better than may. >> much better. i don't know how much of the -- what was the most we were up? we were up on the s&p, were we up 14%, 13% oar something? >> for the year you mean? >> for the year. >> for the dow, we went negative, but then we came back positive. >> we got half of it pack. also, it's a monday in june so we're on supreme court watch. united health says it plans to keep some of the health overall. the nation's largest health care agent saycy says it will keep some of the vaccines

if we had -- if i called larry and rousted him out of bed, kudlow would say something it's about wisconsin. >> he would say more wisconsin. we have these half measures proposed constantly about europe that never work. i'm sure larry would tie it to an eight-point win in a state that hasn't been won by a republican since ronald reagan. >> so our good friend comes on the program yesterday. we ask him what the chances are of qe3. he done say i think more. then today in the "journal" he writes it that -- >> he was on yesterday and said no. >> he didn't say no. he didn't handicap it. today he handicaps it. >> he wanted to save it. >> read his piece and the piece didn't seem it was anything different than what steve liesman or anybody else said on friday. when you add it up it's more likely they will act but not necessarily act soon. >> do we want qe3? will the markets react positively? >> maybe a knee jerk reaction. >> what do i know? >> let's take a look at oil prices this morning again after some big pullbacks. slightly higher today up $76, 85.05 which is well above monday morning with oil pr

here's what former florida governor jeb bush told larry kudlow yesterday on cnbc. >> he is a courageousor courage. and i think in a world of dysfunction, it's really good that a guy like that with the courage of his convictions who acted on them is rewarded with a victory. i think it's a leading indicator of one thing, which is that the intensity of the conservative side of politics is now stronger than the liberal side. it's a spanking because they made it that way. they raised the stakes. they made this a national campaign. all of the leadership, debbie wasserman schultz on the democratic party and the union leaders all said that this was -- all roads lead through matt madison, basically, and no they can't reverse that. this was a national statement. >> dr. sachs, you know, politicians and pundits are going to go back and forth on what impact this will have on the election. but let's talk about the long-term implications. the union movement. and i say this as a conservative. after world war ii, the union movement expanded to such a degree that it brought a lot of working class people

kudlow report." are we heading towards another lehman moment on sunday? michelle joins us from athens with the election details. good evening. >> larryt we saw the final act of political theater before the election this congresswomaning sunday when the leader of the new democracy spoke before a large crowd here trying to rally every last vote. he praised the wait as a choice between staying the euro or by not staying in the euro by voting for the opposition. the opposition party says that it's absolutely not true. they want very big changes to the bail-out agreement that is keeping greece afloat. others say that is not going to be possible. we will find out about mid afternoon new york time on sunday. >> thanks, michelle. here's my quick take. whatever happens to greece on sunday, europe flat on its back. i continue to worry about a global recession. let me switch gears. all the recent data worry me about an american recession. i hope i am wrong. today manufacturing production fell. consumer confidence took an unexpected dive. before that, retail sales and factory orders down two straight months. getting hard to find a good number an

last night i'm watching "kudlow report" and i saw you hosting it, working double duty. >> you got to respect larrywas like, ahh! we didn't say one thing about ben bernanke. we were going back and talking about previous invocations of executive privilege. i mean, it's not easy. >> did i see a chyron, a font that said obama's water gate, question mark, question mark, question mark? >> it's different than water gate, it's water gate with a body count was his -- yes, because the guy died from one of the atf agents. >> that is vivid. all right, let's turn the page here, joe, a little bit and talk about mutual funds and steve romick runs fpa crescent, a $9 billion fund and you want good rating ratings,'s a'got five morning star stars and a gold rating, good to have you with us. >> thanks. >> i want to talk about your portfolio and where you've come from, your daughter graduated high school, you took her to spain on a trip. >> i did. >> congratulations to her. what did you see in spain? what did you sense over there? >> well, it's interesting, just going to madrid and barcelona, we visited, and not going