QUESTION ABOUT FIXED INCOME AND
HAVING YIELDS LOWER SOON ENOUGH
FOR MANY INVESTORS.
BUT THE BIGGEST THING I'M
WATCHING IS ALSO THE COMMODITY
MOVES AND HOW THAT HAS IMPACTED
EVERYTHING M MARKETS MORE -- EM
MARKETS MORE RECENTLY.
I THINK THE BIG NARRATIVE TO TO
WATCH IS INFLATION AND COULD IT
UPTICK AGAIN.
LIZ: WELL, THAT IS THE BIG
QUESTIONSIDERING WE GOT A
MUCH STRONGER THAN EXPECTED
SEPTEMBER JOBS REPORT.
LIFTING THE MARKETS AND BOND
YIELDS ON THIS FRIDAY.
THANKS, KATIE.
WELL, HERE WE GO, A LOT OF GREEN
ON THE SCREEN TODAY.
THAT'S GOING TO DO IT FOR "THE
CLAMAN COUNTDOWN."
STAY TUNED, LARRY KUDLOW WITH
FORMER PRESIDENT TRUMP NOW.
♪ ♪
LARRY: HELLO, FOLKS.
WELCOME TO "KUDLOW," I'M LARRY
KUDLOW.
WE SPENT AN HOUR WITH FORMER
PRESIDENT DONALD TRUMP AT
MAR-A-LAGO EARLIER TODAY.
HE WAS IN VERY GOOD SPIRITS.
RIGHT AFTER OUR INTERVIEW, HE
WAS OFF OF TO GEORGIA TO AGAIN
HELP RAISE PRIVATE ASSISTANCE IN
THE AFTERMATH OF THE DESTRUCTION
AND LOSS OF LIFE FROM HURRICANE
HELENE.
GOVERNOR BRIAN KEMP OF GEORGIA
WAS GOING TO BE WITH MR. TRUMP
IN AUGUSTA, AND TOMORROW HE IS
RETURNING TO BUTLER,
PENNSYLVANIA, AT THE SCENE OF
THE ATTEMPTED ASSASSINATION BACK
ON JULY 13TH.
HE AND I HAD A VERY GOOD, LONG
SIT-DOWN THIS MORNING, AND WE'RE
GOING TO PLAY ALL OF IT FOR YOU.
THE FIRST SEGMENT COMING RIGHT
UP WAS ABOUT THE JOBS REPORT,
TARIFFS AND, OF COURSE, DRILL,
BABY, DRILL.
LET'S GET RIGHT TO THE IT AND
TAKE A LISTEN, PLEASE.
ROLL TAPE.
MR. PRESIDENT, WELCOME BACK TO
THE "KUDLOW" SHOW, WE APPRECIATE
IT VERY MUCH, SIR. >> THANK YOU VERY MUCH, LARRY.
LARRY: I WANT TO BEGIN, TODAY'S
JOBS NUMBERS CAME OUT, AND THE
TOP LINE WAS A VERY SOLID JOBS
REPORT, AMERICANS ARE WORKING.
BUT, YOU KNOW, YOU LOOK UNDER
THE HOOD, IT'S THE SAME STUFF.
I JUST WANT TO READ A COUPLE
THINGS. FULL-TIME JOBS DOWN ALMOST
500,000.
PART-TIME JOBS UP 800,000.
MANUFACTURING JOBS DOWN AGAIN.
825,000 NATIVE BORN JOBS LOST,
1.THE MILLION -- 1.2 MILLION
FOREIGN BORN JOBS GAINED.
THESE ARE UNCOMFORTABLE
STATISTICS.
THERE'S SOMETHING WRONG, THERE'S
SOMETHING UNBALANCED ABOUT ALL
THESE NUMBERS, WHERE THE
COUNTRY'S GOING. >> WELL, ESPECIALLY SO SINCE, AS
YOU SEE AND I GUESS YOU PROBABLY
READ ONE OF THE NUMBERS WHERE
THE ILLEGAL MIGRANTS THAT ARE
COMING INTO THE COUNTRY ARE GETTING THE JOBS.
THEY'RE GETTING MOST OF THE
JOBS. AND THE CITIZENS AREN'T GETTING
THE JOBS.
AND THE OTHER THING THAT YOU
DON'T KNOW WHAT TO BELIEVE
ANYMORE BECAUSE 818,000 TWO
MONTHS AGO WAS A FRAUD.
THEY PUT IN 818,000 EXTRA JOBS.
AND IT GOT WIPED OUT.
THEY SAID THEY MADE A MISTAKE.
THAT WAS DONE ON PURPOSE.
AND IT WAS SUPPOSED TO COME OUT,
THE WIPEOUT WAS SUPPOSED TO BE
AFTER THE ELECTION, BUT YOU HAD
A WHISTLEBLOWER THAT CAME OUT
AND ANNOUNCED THAT THEY
DEFRAUDED THE COUNTRY.
SO YOU SAY, LIKE, HOW DOES THAT
HAPPEN? I'VE NEVER HEARD OF -- I'VE
HEARD OF THEY'RE OFF BY 10,000,
15,000. THEY WERE OFF BY 818,000 JOBS.
SO WHEN IS THAT GOING TO COME
OUT?
LARRY: YEAH.
WELL, IT'S PROBABLY GOING TO BE
REVISED DOWN. IT'S HARD TO KNOW, WE'VE NEVER
SEEN ANYTHING LIKE IT, AS YOU
POINT OUT --
>> NO, YOU'VE NEVER SEEN NUMBERS
LIKE THIS.
LARRY: AND, AGAIN, MANUFACTURING
JOBS CONTINUE TO DECLINE, AND
THE ISM PURCHASING MANAGERS
CONTINUES TO DECLINE.
WE HAVEN'T HAD ANY MANUFACTURING
JOBS IN TWO YEARS.
WE'RE IN A MANUFACTURING SLUMP,
PROBABLY A MANUFACTURING
RECESSION.
IS THIS ATTRIBUTABLE, DO YOU
THINK, TO BIDEN-HARRIS POLICIES?
>> YES.
IT'S ATTRIBUTABLE TO THE FACT
THAT OTHER COUNTRIES ARE RIPPING
US OFF INCLUDING MEXICO, AND
THERE ARE A LOT OF THEM -- CHINA
ALWAYS, BUT MEXICO'S REALLY
DOING A BIG NUMBER ON US.
WE HAVE COMPANIES MOVING DOWN TO
MEXICO, THEY'RE MAKING PRODUCT,
THEY'RE SELLING IT AND NOBODY'S
TALKING TO THEM, NOBODY'S
SPEAKING ABOUT IT, NOBODY'S
PUTTING TARIFFS ON 'EM.
IF YOU PUT TARIFFS ON THOSE
COMPANIES, YOU WOULDN'T HAVE
THEM LEAVING OUR COUNTRY.
THEY'RE LEAVING US, GOING TO THE
MEXICO, RIGHT ACROSS THE BORDER,
BUILDING A PLANT AND SELLING
THINGS BACK INTO OUR COUNTRY.
YOU CAN'T LET THEM DO THAT,
THAT'S WHAT TARIFFS ARE FOR.
YOU PUT TARIFFS ON, THEY WON'T
BE DOING THAT. AND IT'S NOT COMPLICATED, IT'S
THE REALLY SIMPLE.
LARRY: SO YOUR PLAN -- WE'RE
GOING TO GET TO THE TAX HIKES
FOR KAMALA HARRIS, BUT YOUR
PLAN, YOU WILL OFFER 20 THE --
I'M SORRY, 15%, 221 -- 21 TO 15
TAX RATE AND MAKE US AMONG THE
LOWEST, PROBABLY THE LOWEST OR
MAYBE THE SECOND LOWEST AROUND
THE ENTIRE WORLD.
THAT'S HOW COMPETITIVE WE'D BE.
BUT YOU'VE GOT TO PRODUCE IT
HERE. YOU'VE GOT TO TO PRODUCE IT
HERE. NOW, I THINK THAT WOULD GO A
LONG WAY TOWARDS SOLVING SOME OF
THESE VARIOUS PROBLEMS ABOUT
FOREIGN-BORN VERSUS NATIVE-BORN,
MANUFACTURING JOBS AND THINGS OF
THAT SORT.
TELL ME MORE ABOUT THAT VISION.
TELL ME MORE WHAT GOES ALONG
WITH THAT. >> SO, FIRST OF ALL, I BROUGHT
IT FROM 39 DOWN TO 21, OKAY?
IN IT WAS 39, WHICH WAS WAY TOO
HIGH AND IN THE EXIT THETIVE,
AND WE WERE DOING VERY --
COMPETITIVE, WE WERE DOING VERY
BADLY. AND AT 21 WE DID MUCH MORE
BUSINESS THE FOLLOWING YEAR THAN
WE DID AT 39.
IN OTHER WORDS, WE TOOK IN MORE
REVENUE WITH 21 THAN WE DID
BECAUSE IT WAS, LIKE, THAT WAS
AFTER THE TAX CUTS.
THEY CALL THEM THE TRUMP TAX
CUTS WHICH WERE PHENOMENAL, AND
EVERYBODY, JUST ABOUT A
EVERYBODY ADMITS THAT.
NOW I'M GOING TO TAKE IT FROM 21
TO 15, BUT YOU HAVE TO THE MAKE
YOUR PRODUCT HERE. AND I'M GOING TO GUARD THEM
BECAUSE PART OF IT, AS PER YOUR
FIRST QUESTION, WE HAVE THE
GUARD OUR COMPANIES -- TO GUARD
OUR COMPANIES.
NOW THEY'RE GOING TO HAVE LOW
TAXES, LOW ENVIRONMENTAL COSTS,
LOW TAXES BECAUSE WE'RE GOING TO
GET THE ENERGY WAY DOWN, DRILL,
BABY, DRILL.
WE'RE GOING TO HAVE LOW ENERGY,
LOW ENVIRONMENTAL COSTS BECAUSE
WE'RE GOING TO MOVE -- LOOK,
PEOPLE ARE TIED UP FOR YEARS ON
ENVIRONMENTAL.
I'M GOING TO DO AN EXPEDITED
ENVIRONMENTAL REVIEW.
LARRY: PERMITTING, QUICK
PERMITTING.
>> PERMITTING. LARRY: YOU HAD IT ONCE IN THE
FIRST TERM, AND THEN THEY UNDID
IT.
>> I WAS APPROVING PLANTS AT
LEVELS THAT NOBODY'S EVER SEEN.
WE'RE TALKING ABOUT PLANTS THAT
NORMALLY WOULDN'T GET DONE.
BUT IF YOU DO YOUR PRODUCT HERE,
YOU GO FROM THE 21 TO THE THAT
15.
15 MAKES US THE MOST
COMPETITIVE. THERE ARE SOME COUNTRIES, BUT
NOT LIKE THIS. THERE ARE A FEW COUNTRIES THAT
ARE SLIGHTLY LESS.
BUT 15 MAKES US SO COMPETITIVE,
EVERYONE'S GOING TO THE COME
RUSHING INTO OUR COUNTRY.
BUT WE'RE GOING TO PROTECT THEM
ONCE THEY'RE HERE WITH TARIFFS.
SO THAT IF SOMEBODY WANTS TO
MAKE THEIR PRODUCT OUTSIDE OF TO
OUR COUNTRY AND SELL IT IN, THEY
HAVE TO TO PAY A TARIFF OF TO,
YOU KNOW, A SUBSTANTIAL TARIFF
DEPENDING ON -- ALL DIFFERENT
BECAUSE IT DEPENDS ON THE
COUNTRY, WHERE THEY ARE, HOW
THEY'RE DOING.
AND, LIKE, WE HAVE A CASE OF
INDIA WHICH CHARGES US MASSIVE,
MASSIVE TARIFFS.
YOU LOOK AT HARLEY DAVIDSON AND
COMPANIES THAT WENT TO INDIA
BECAUSE THEY COULDN'T -- THEY
DIDN'T WANT TO PAY 150, 2000
PERCENT.
BRAZIL D200%.
BRAZIL CHARGES US A LOT ARE.
CHINA ALWAYS, ALWAYS CHINA.
AND, YOU KNOW, I TOOK IN
HUNDREDS OF BILLIONS OF DOLLARS
FROM CHINA. NO PRESIDENT EVER TOOK IN -- NOT
EVEN, AND I MEAN IT, TEN CENTS,
WE NEVER TOOK IN ANY MONEY P I
NEVER TOOK -- I TOOK IN HUNDREDS
OF BILLIONS OF DOLLARS, AND NOW
CHINA'S TOTALLY OUT OF CONTROL.
WE HAVE A DEFICIT WITH CHINA,
I'VE NEVER IF SEEN ANYTHING LIKE
IT, WHAT THEY'RE DOING WITH
CHINA. BUT WE HAVE A DEFICIT WITH THE
COUNTRY. WE'LL KNOCK THAT DOWN.
WHEN YOU START CHARGING PEOPLE
TARIFF, OUR COUNTRY WAS THE
RICHEST WHEN WE WERE DOING
TARIFFS.
THAT WAS THE RICHEST.
THIS WAS IN THE 1880s AND
'90s. WE WERE PROPORTIONATELY, WE
WERE, YOU KNOW, IF YOU GO BACK
TO THE DATES AND YOU LOOK, OUR
COUNTRY WAS SO RICH, WE DIDN'T
KNOW WHAT TO DO WITH ALL THE
MONEY WE HAD.
THEY HAD COMMITTEES, THE GREAT
TARIFF COMMITTEE OF 1887.
THIS WAS A COMMITTEE THAT WAS
SET UP TO, LIKE, WHERE DO YOU --
WHAT CAN DO YOU DO WITH ALL THE
MONEY? LARRY: WILLIAM MCKINLEY, HE WAS
THE CHAIRMAN OF THE HOUSE WAYS
AND MEANS COMMITTEE.
>> YEAH.
LARRY: THE MCKINLEY TARIFF OF
1890. I READ THE WHOLE BIOGRAPHY, 600
PAGES.
>> HE MADE MONEY, AND ROOSEVELT
SPENT IT.
ROOSEVELT GETS CREDIT FOR BEING
A GREAT PRESIDENT.
MCKINLEY WAS A GREAT PRESIDENT.
HE WAS ASSASSINATED.
YOU KNOW WHY? IF BECAUSE HE WAS CHARGING ALL
THESE COUNTRIES MONEY, PROBABLY,
WHO THE HELL KNOWS?
BUT WE WERE SO ITCH ARE.
WE HAD SO MUCH MONEY -- SO RICH.
THEY HAD COMMITTEES SET UP ON
WHAT TO DO WITH ALL THE MONEY.
WOULDN'T THAT BE NICE?
NOW WE GIVE IT AWAY, WE DON'T
HAVE IT.
LARRY: IF YOU MAKE MONEY ON
THESE TARIFFS, WOULD YOU THEN
ALLOCATE IT TO LOWER TAXES?
>> LOWER TAXES AND PAYING OFF
DEBT. LARRY: AND HOW ABOUT THIS --
>> AND YOU WILL PAY OFF A LOT OF
DEBT. LARRY: LET'S COME BACK TO THE
15% CORPORATE RATE WHICH WOULD
BE PHENOMENAL -- I MEAN, WIN THE
GLOBAL RACE FOR CAPITAL.
YOU'D WIN THE GLOBAL RACE, MONEY
WOULD COME POURING IN.
>> YEAH.
LARRY: BUT YOU MENTIONED, JOHN
DEERE COMPANY, IT'S A VENERABLE,
OLD GREAT AMERICAN COMPANY.
>> YEAH.
LARRY: BUT IF THEY'RE GOING TO
MOVE WANT PLANTS TO MEXICO --
MOVE PLANTS TO MEXICO AND TRY TO
SELL STUFF BACK TO THE U.S.,
SNEAK IN UNDER, FOR EXAMPLE, THE
USMCA TARIFF SCHEDULE, YOU WOULD
CHARGE THEM A 2000 -- 200 TEAR
RIFT.
>> OR 100%.
I WOULD CHARGE THEM ENOUGH THAT
IT WOULD NO LONGER MAKE SENSE TO
GO TO MEXICO.
THEY MOVED A BIG OPERATION TO
MEXICO, AND THEY COME IN, AND
THEY DON'T HAVE TO PAY -- PAY
VERY LITTLE TAX.
THEY'RE GOING TO MAKE IT IN
MEXICO, SELL IT IN HERE, AND WE
GET KILLED. ALL WE DO IS LOSE JOBS.
AND, BY THE WAY, THAT'S BEEN
HAPPENING FOR YEARS.
I STOPPED IT DURING MINE, BUT WE
HAD THE GREATEST ECONOMY IN
HISTORY. COMPANIES WERE MOVING BACK IN
LIKE NOBODY'S EVER SEEN --
LARRY: IS THAT'S HOW YOU, THAT'S
HOW YOU NEGOTIATE THOUGH.
>> YEAH. LARRY: THAT'S THE POINT I'M SORT
OF DRIVING AT.
>> JOHN DEERE --
[INAUDIBLE] LARRY: JOHN DEERE WON'T DO IT
BECAUSE YOU'RE THREATENING, I
MEAN, YOU WILL JACK UP THEIR
TARIFFS, OKAY? THEY WON'T DO IT.
>> IT WOULDN'T BE A THREAT.
IT'D BE A FACT.
LARRY: YOU'RE NEGOTIATING RIGHT
NOW. BY SAYING THIS ON THE CAMPAIGN
TRAIL, ALL RIGHT, YOU HAVE AN
EXCELLENT CHANCE OF BECOMING
PRESIDENT, THEY'RE GETTING THE
MESSAGE. SO THIS IS WHERE, YOU WILL USE
TARIFFS TO NEGOTIATE SOMETIMES
ON TRADE, IN THIS CASE, MAYBE ON
OTHER THINGS LIKE REMAIN IN
MEXICO OR PERHAPS CHINA OR
PERHAPS OTHER COUNTRIES.
I DON'T THINK PEOPLE UNDERSTAND
THAT. THAT'S WHY I'M RAISING THE
QUESTION. >> A TARIFF IS A BEAUTIFUL
THING, BUT IT'S GOT A BAD IMAGE.
IT NEEDS YOU TO FIX THE IMAGE.
A TARIFF, WE STOP WARS WITH
TARIFFS.
I MEAN, I HAD CASES WHERE WITH I
TOLD A COUNTRY, THEY WERE BEING
VERY AGGRESSIVE WITH ANOTHER
COUNTRY, HAD NOTHING TO DO WITH
US, I JUST DON'T LIKE SEEING
DEAD PEOPLE, OKAY IN AND THEY
WERE GOING TO GO TO WAR, AND I
SAID IF YOU GO TO WAR -- AND
THEY DO A LOT OF BUSINESS WITH
THE UNITED STATES -- I'M PUTTING
A 1000% TARIFF ON ANY BUSINESS
YOU DO WITH US. NO, NO, NO, THIS HAS NOTHING TO
DO -- I STOPPED A WAR.
WILL I GET NOBEL PRIZES?
NEVER. I MEAN, LOOK WHAT WE DID WITH
THE ABRAHAM ACCORDS, HOW GOOD
THAT WAS. BUT YOU CAN STOP WARS WITH
TARIFFS. THE WORD TARIFF, IF PROPERLY
USED, NOT STUPIDLY USED, BUT WE
USED THEM, AND THAT WAS WHEN OUR
COUNTRY WAS THE RICHEST.
AND A LOT OF PEOPLE SAY, WELL,
YOU HAD THE DEPRESSION IN -- THE
THE TARIFFS WERE PUT ON IN 1932.
THE DEPRESSION HAD LONG STARTED.
WE WENT TO THE INCOME TAX
SYSTEM.
WE WOULD BE ABLE TO CUT TAXES
FOR THE PEOPLE IN THIS COUNTRY
IS AND CHARGE OTHER COUNTRIES
FOR THE USE OF OUR COUNTRY, FOR
THE PILLAGE OF OUR COUNTRY, FOR
THE TAKING OF OUR JOBS BECAUSE
THAT'S WHAT THEY'RE DOING.
AND NOBODY'S PROTECTING OUR
COUNTRY. SO WHEN I SAY THE 15% -- AND I
HAVE A LOT OF CALLS, WHEN I GAVE
THE SPEECH AND MENTIONED FOR THE
FIRST TIME THE 15, I HAD CALLS
FROM THE TOP ANALYSTS IN THE
COUNTRY AND THE WORLD, GUYS THAT
ARE ON YOUR SHOW SAYING WHERE
DID YOU EVER COME UP WITH THAT
IDEA?
BECAUSE THE CONCEPT IS 15, BUT
YOU HAVE TO MAKE YOUR PRODUCT
HERE. WHO GAVE YOU THAT IDEAS? --
IDEA? I SAID, I DID.
I GAVE ME THATTED IDEA.
THEY SAID THAT IDEA'S
INCREDIBLE.
BUT YOU ALSO HAVE TO PROTECT
THAT BECAUSE YOU HAVE OTHER
COUNTRIES BECAUSE THEY HAVE NO
LABOR, NO THIS, NO THAT THAT CAN
COME IN AND UNDERCUT YOU.
AND YOU KNOW WHAT THEY DO,
LARRY, THEY UNDERCUT YOU, THEY
DRIVE YOUR BUSINESSES OUT OF
BUSINESS AND THEN THEY COME IN
FOR A MUCH HIGHER NUMBER.
LARRY: AND YOU'RE STILL FOR THE
CONCEPT OF RECIPROCITY.
>> IF SOMEBODY'S CHARGING US
100, WE CHARGE THEM 1000.
IF CHINA CHARGES US 100% ON A
CAR, WE CHARGE THEM 100, IT'S
VERY SIMILAR.
I HAVE A CERTAIN SENATOR NAMED
LINDSAY LINDSEY GRAHAM, AND HE'S
NOT INTO THIS AS MUCH AS HE IS
OTHER THINGS. AND HE'S A NICE GUY, GOOD GUY.
HE LOVES THE COUNTRY EVEN THOUGH
HE'S A PROGRESSIVE, THAT'S OKAY.
THESE ARE MINOR DETAILS.
[LAUGHTER] BUT I SAID, SO, LINDSEY, LET'S
TALK RECIPROCITY.
TALKS ABOUT TRADE.
HE SAYS I'M NOT SO MUCH INTO
TRADE, TELL ME.
I SAID, A COUNTRY IS CHARGING US
100% TARIFFS, WE'RE GOING TO
CHARGE THEM FOR A SIMILAR
PRODUCT A 100% TARIFF.
HE GOES, AH.
SO THEY CHARGE US, WE CHARGE
THEM?
YOU GOT MY VOTE.
YOU KNOW? IT'S JUST SIMPLE.
BUT WE HAVE GUYS EVEN IN
CONGRESS THAT FOR WHATEVER
REASON OR, OR THEY DON'T WANT TO
DO IT. THEY ACTUALLY SAY IT'S NOT FAIR
TRADE. AND I SAY, YOU'RE RIGHT, IT'S
NOT FAIR TRADE.
NOT FAIR TRADE FOR US.
IF WE DO THIS, WE COULD BECOME
OVERNIGHT A POWER AGAIN
ECONOMICALLY.
WE'LL NEVER BE A POWER UNLESS WE
DO IT.
UNLESS WE CHARGE AND UNLESS
WE -- BECAUSE, YOU KNOW, WE'VE
BEEN GIVING FOREIGN COUNTRIES
SUCH BENEFITS OVER THE YEARS.
SOUTH KOREA, WE'RE BASICALLY
PAYING FOR THEIR MILITARY.
YOU KNOW, I HAD THEM PAYING
BILLIONS OF DOLLARS.
I WENT TO THEM AND I SAID,
YOU'RE NOT PAYING ANYTHING.
YOU'VE GOT TO PAY.
AND I HAD THEM PAYING BILLIONS
OF DOLLARS.
AND I HEAR BIDEN GAVE IT UP FOR
WHATEVER REASON.
BUT LOOK AT THE ADVANTAGE THEY
HAVE WHEN YOU DO THAT.
WE HAVE BEEN HELPING COUNTRIES,
WE'RE STILL HELPING COUNTRIES
COME BACK FROM THE SECOND WORLD
WAR. WE HELP KOREA COME BACK9 FROM
THE KOREAN WAR.
BUT WE NEVER DID ANYTHING ABOUT
IT. IN OTHER WORDS, WE'VE BEEN
HELPING THEM FOR MANY, MANY
DECADES. IT'S TIME WE STOP.
THEY'RE VERY -- THEY'RE A MONEY
MACHINE.
IT'S TIME WE STOP.
AND BE FAIR, BUT IT'S THE TIME
WE STOP.
WE ARE HELPING COUNTRIES --
LARRY: YOU WOULD WORK A DEAL
OUT. YOU WOULD WORK A DEAL.
>> I ALREADY DID, I WORKED A
DEAL -- LARRY: YOU WORKED A DEAL OUT
WITH A JAPAN ALSO.
>> BIDEN GAVE IT AWAY.
LARRY: YES. >> THEY AGREED TO PAY ME
BILLIONS OF DOLLARS.
IT WAS THE ALL DONE.
THEY STARTED PAYING.
BUT WHEN HE CAME IN, THEY CUT
IT, AND I HEAR THEY'RE PAYING
NOTHING AGAIN.
THEY WERE -- WERE THEY HAPPY?
WERE THEY THRILLED?
WOULD THEY SAY THEY LIKE ME AS
OPPOSED TO, LIKE, A BIDEN WHERE
THEY CAN GET RIPPED OFF?
YOU KNOW, I CAN'T IMAGINE THEY'D
SAY -- LARRY: TILL AN ALLY OF THE
UNITED STATES.
>> SURE IT'S AN ALLY, BUT, YOU
KNOW, ON TRADE IT'S NOT AN ALLY.
IN TRADE IT'S AN ENEMY.
IT'S AN ENEMY.
YOU KNOW, SOME OF THE WORST
PEOPLE WE HAVE IN TERMS OF TRADE
ARE OUR ALLIES.
JAPAN IS, YOU KNOW, AN ALLY,
RIGHT?
AND I MADE A DEAL THERE WITH ABE
WHO WAS A GREAT MAN WHO GOT
EXECUTED.
I MEAN, JUST HORRIBLE, WHAT
HAPPENED. HE WAS ASSASSINATED.
BUT HE WAS GREAT.
HE WAS A GREAT LEADER TOO.
AND BECAUSE I LIKED HIM SO MUCH,
I PROBABLY MADE A SOFTER DEAL
THAN I WOULD HAVE NORMALLY MADE.
BUT JAPAN, YOU KNOW, RIPS US --
THEY ALL A RIP -- ALMOST EVERY
COUNTRY RIPS US.
AND I STOPPED IT.
IF NOW, CHINA'S ONE BUT, YOU
KNOW --
LARRY: [INAUDIBLE] >> NO.
YOU HAVE TO PROTECT.
YOU HAVE TO PROTECT IT,YOU
PROTECT THEM WITH TARIFFS.
AND THEY EITHER PAY THE TARIFF
OR THEY MOVE A PLANT TO -- I
WANT CAN CHINA TO BUILD PLANTS,
FOR CAR PLANTS AS AN EXAMPLE, I
WANT CHINA TO BUILD CAR PLANTS
HERE, NOT IN MEXICO.
AND IT'S VERY SIMPLE.
I MEAN, IT'S AMAZING THAT IT'S
THE NOT DONE -- THAT IT'S NOT
DONE.
AND PEOPLE COME TO ME AND THEY A
SAY, WOW, THAT MAKES SENSE.
BUT YOU HAVE CONGRESSMEN AND
PEOPLE THAT ARE AGAINST IT.
I SAID TO ONE MAN, HE'S NO
LONGER IN POLITICS, HE HAPPENED
TO BE FROM PENNSYLVANIA.
HAPPENED TO BE A SENATOR FROM
PENNSYLVANIA. I SAID, SO LET ME GET THIS
STRAIGHT.
IF CHINA'S CHARGING US 1000%
TARIFF -- SO -- 100% TARIFF FOR
A SIMILAR PRODUCT, COULD I
CHARGE THEM 75?
NO. WHY?
IT'S NOT FREE TRADE.
I SAID, OKAY, COULD I CHARGE
THEM 50%?
NO, IT'S NOT -- COULD I CHARGE
THEM 25 THE OR EVEN 10%?
IF NO.
I SAID, ARE YOU A STUPID PERSON
OR WHAT'S WRONG WITH YOU?
[LAUGHTER] AND HE NEVER RAN FOR OFFICE
AGAIN. LARRY: IT BECOMES FREE TRADE.
>> LET ME TELL YOU, HE NEVER RAN
FOR OFFICE AGAIN.
LARRY: I THINK THEORETICALLY
WITH RECIPROCITY IN TRADE
NEGOTIATIONS -- >> EVERYBODY GIVES UP.
YOU GO BACK TO NOTHING, OKAY?
LARRY: I KNOW PEOPLE --
>> THIS IS A GUY THAT PEOPLE
SAID WAS SMART.
HE NEVER RAN FOR OFFICE BECAUSE
I WOULDN'T GIVE HIM AN
ENDORSEMENT BECAUSE I SAID
ANYBODY THAT SAYS THAT -- SO
THINK OF IT.
WE'RE PAYING THEM 100%, WE MAKE
THEM PAY 100%.
TWO THINGS, ONE OF TWO THINGS
ARE GOING TO THE HAPPEN.
WE'LL EITHER COLLECT THE MONEY,
OR THEY'RE GOING TO SAY LET'S
NOT PAY THE -- LET'S JUST GO
BACK TO BASICS, RIGHT?
AND THEN THERE ARE A LOT OF
CASES WHERE THEY'RE CHARGING US
A TREMENDOUS AMOUNT, WE CHARGE
THEM NOTHING.
THEY'RE MAKING A FORFORTUNE.
AND, BY THE WAY, HENCE, WE HAVE
A $35 TRILLION -- WE CAN START
CUTTING INTO THAT.
WE CAN HAVE, WE HAVE A
TREMENDOUS DEFICIT IN THIS
COUNTRY, WE'VE HAD IT FOR MANY,
MANY, FOR DECADES, RIGHT?
BUT WE HAVE A TREMENDOUS DEFICIT
IN THIS COUNTRY.
WE CAN GO TO ALMOST NO DEFICIT
ALMOST IMMEDIATELY.
LARRY: LET'S TALK --
>> LARRY, ONE THING.
IT'S, WE'VE TREATED THE WORLD
NICE FOR A LONG TIME.
WE'VE BEEN RUN BY STUPID PEOPLE
THAT ALLOWED US TO GET INTO THIS
SITUATION.
AND IT'S ABOUT TIME THESE OTHER
COUNTRIES PLAY A LITTLE BALL
WITH US.
AND AND ALL I WANT IS FAIRNESS.
AND IF THEY'RE FAIR, WE HAVE
SOMETHING THAT YOU'VE NEVER SEEN
IN THIS COUNTRY TIL, I MEAN,
LITERALLY THE 1880s, THE 1890
TOs. BUT THAT WAS THE TIME, YOU KNOW,
YOU HEAR ABOUT A WEALTH, BUT WE
WOULD GIVE A LOT OF IT AWAY FOR
A LONG TIME.
THAT WAS THE TIME WE WERE THE
RICHEST. WE WERE SO RICH ARE.
RICH. AND IT WAS ALL BASED ON TARIFF.
THERE WAS NO INCOME TAX.
IT WAS ALL BASED ON COUNTRIES --
AND IF YOU LOOK AT SOME OF
MCKINLEY'S WORDS, HE WAS VERY
BEAUTIFUL IN WORDS, WE WILL NOT
ALLOW THE PILLAGE OF OUR
COUNTRY.
AND IF THEY'RE GOING TO TAKE OUR
JOBS AND IF THEY'RE GOING TO DO
THIS AND THAT, THEY'VE GOT TO
PAY FOR IT.
AND ALL I'M SAYING IS THAT
THEY'VE GOT TO PAY FOR IT.
♪
LARRY: ALL RIGHT.
COMING UP, WE'RE GOING TO SEE
SOME MORE OF MY INTERVIEW WITH
PRESIDENT TRUMP.
WE'LL BE TALKING ABOUT TRUMP TAX
CUTS, THE GOLDEN AGE OF AMERICAN
INDUSTRIALISM, KAMALA'S TAX
HIKES AND THE POTENTIAL
DEPRESSION. AND, OH, OH, YEAH, I DON'T WANT
TO FORGET THIS, KING DOLLAR
ALSO. STAY WITH US, PLEASE.
♪
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LARRY: IN MY CONVERSATION WITH
PRESIDENT TRUMP, WE ALSO TALKED
ABOUT TAX CUTS AND THE GOLDEN
AGE OF AMERICAN INDUSTRIALISM,
AND THEN WE GOT TO KAMALA'S TAX
HIKES AND AND A POTENTIAL
DEPRESSION.
FINISH AND, OH, BY THE WAY, WE
DID HIT ON KING DOLLAR.
PLEASE TAKE A LISTEN.
YOU'VE TALKED ABOUT A GOLDEN AG-
>> I HAVE.
LARRY: YOU'VE TALKED ABOUT NEW
INDUSTRIALISM. BASING IT AROUND YOUR LOWER
TAXES AND DEREGULATION AND, OF
COURSE, LIQUID GOLD IN DRILL,
BABY, DRILL.
SO THERE YOU HAVE IT.
NOW, A NEW AD UP, CAM A RAH
HARRIS IS SAYING -- KAMALA
HARRIS IS SAYING TAXES ARE GOING
TO HAVE TO GO UP, SHE'S JUST
SAYING THAT IN THE AD.
CALCULATIONS ARE ALMOST $3,000
PER FAMILY BASED ON HER TAX
BRANCH SHE WOULD -- PLAN.
SHE WOULD DO THINGS THAT WOULD
DRIVE INVESTMENT AWAY FROM THIS
COUNTRY, DESTROY BUSINESSES,
DAMAGE HOUSEHOLDS.
SOME PEOPLE SAY IT WOULD CAUSE,
EVEN LEAD TO THE A DEPRESSION.
I MEAN, A DIFFERENCE.
YOU'RE THE TAX CUTTER, YOU'RE
TRYING FOR A NEW GOLDEN AGE IN
THIS COUNTRY.
SHE'S A TAX HIKER IN ORDER TO
PAY, SHE WANTS ANOTHER $2
TRILLION IN ENTITLEMENTS AND
SPENDING. SHE SAID THAT IN ONE OF HER
ECONOMIC SPEECHES WHEN SHE
DECLARED HER CANDIDACY.
THERE'S A BIG DIFFERENCE BETWEEN
THE TWO OF YOU.
>> SHE WANTS TO TAX PEOPLE BUT
ALSO BUSINESSES INTO OTHER
COUNTRIES.
YOU KNOW BETTER THAN ANYBODY,
PROBABLY BETTER THAN ANYBODY ON
THE PLANET BECAUSE YOU KNOW
EVERY HEAD OF EVERY COMPANY.
YOU HAVE INTERVIEWS WITH THEM
EVERY ONCE IN A WHILE, RIGHT?
THESE ARE PEOPLE THAT ARE
PROBABLY MORE LOYAL TO THEIR
COMPANY AND THEIR SHAREHOLDERS
THAN THEY ARE TO THE A COUNTRY.
AND WHAT HAPPENS IS WHEN YOU
CHARGE TOO MUCH, WHAT'S GOING TO
THE HAPPEN OR, THEY'RE GOING TO
LEAVE OTHER COUNTRIES AND COME
BACK TO US AT THE 15%.
THEY'RE GOING TO MAKE THE
PRODUCT HERE.
BUT WHAT HAPPENS IS THEY'RE
LOYAL TO THE COMPANY, AND THE
STOCK PRICE.
AND WHEN EUROPE AND OTHER
PLACES, LOOK WHAT HAPPENED WITH
IRELAND AND THE PHARMACEUTICAL
INDUSTRY.
I MEAN, THEY JUST SOIL IT WHEN
WE WERE -- SO MANY OF THESE
COMPANIES ARE LOCATED IN
IRELAND, AND IT WAS ALL BASED ON
TAX POLICY.
AND IF YOU FOLLOW KAMALA,
KAMALA, IF YOU FOLLOW HER, SHE
DOESN'T KNOW ANYTHING ABOUT IT.
LOOK, THIS WOMAN RUINED,
DESTROYED MAYBE THE BEST CITY IN
THE COUNTRY, SAN FRANCISCO.
NOW, IT WASN'T OVER TAX, IT WAS
DEFUND THE POLICE AND ALL SORTS
OF OTHER THINGS, RIGHT?
IT WAS IF YOU ROB A STORE, YOU
CAN GO UP TO $950 AND AFTER THAT
WE'LL START GETTING ANGRY AT
YOU.
THAT WAS NOT A GOOD POLICY
EITHER.
LARRY: ON A DAILY BASIS.
>> SHE WOULD BE A DISASTER.
JUST IS YOU UN, IF YOU FOLLOW
HER POLICY, YOU WILL END UP IN A
1929-STYLE DEPRESSION, 100%
CERTAIN. AND COMPANIES AND JOBS WILL
FLEE. EVERYTHING'S GOING THE FLEE.
YOU WON'T HAVE A COUNTRY LEFT.
AND SHE'S THE ONLY PERSON I'VE
EVER SEEN THAT IS CAMPAIGNING ON
A MASSIVE TAX HIKE.
I'VE NEVER SEEN THAT BEFORE.
VERY INTERESTING.
LARRY: THE TAX FOUNDATION PRICED
IT OUT, SHE'D LOSE 800,000 JOBS.
BUT A LOT OF PEOPLE HAVE SAID
HER WEALTH TAXES, AGAIN, THIS
UNREALIZED CAPITAL GAINS, MAYBE
THAT DOESN'T APPLY THE EVERY
AMERICAN, I UNDERSTAND IT.
ALTHOUGH IF YOU OWN A FARM OR
YOU OWN A RANCH OR YOU BUILD A
SMALL BUSINESS AND THEY'RE GOING
TO THE MAKE YOU PAY AN ARBITRARY
TAX ON YOUR CAPITAL, HAVE TO
RAISE MONEY, SELL, STOCKS WILL
COLLAPSE. THAT'S GOING TO CAUSE MORE
SELLING. >> COMPRESSION.
LARRY: THAT IS A DEPRESSION.
>> PEOPLE WILL LEAVE THE
COUNTRY. LARRY: STEVE FORBES WAS ON MY
SHOW THE OTHER NIGHT.
HE'S A COMMON SENSE GUY.
HE SAID IT WILL LEAD TO THE A
DEPRESSION, SO IT'S NOT NOTHING.
>> PEOPLE WILL LEAVE THE
COUNTRY. YOU KNOW, THEY USED TO THE LEAVE
THE STATE --
LARRY: YES, RIGHT.
>> NOW THEY LEAVE THE COUNTRY.
NO, NO, IN THE OLD DAYS, THEY'D
GO TO SOME OTHER STATE.
THEY WOULDN'T LIKE NEW YORK, AND
THEY'D GO SOMEPLACE -- NOW THEY
LEAVE THE COUNTRY.
IT WOULD BE A DISASTER.
LARRY: BUT YOU STILL WANT THE
DOLLAR TO BE THE WORLD
RESERVE -- >> HAS TO BE.
HAS TO BE.
THAT'S THE OTHER THING, YOU LOSE
THE WORLD CURRENCY.
WE WILL NO LONGER HAVE THE
CURRENCY. IF WE -- IF THAT HAPPENS, WE'RE
NO LONGER THE WORLD RESERVE
CURRENCY. WE'RE NO NOT THAT INCREDIBLE
THING THAT WE WERE.
YOU KNOW, IT'S RAPIDLY GOING.
BECAUSE WE LOSE RUSSIA, WE LOSE
THIS ONE, WE LOSE THAT ONE,
CHINA WOULD LOVE TO TAKE OVER.
THE ONE THAT WANTS TO TAKE OVER
IS CHINA WITH THE YUAN.
YOU KNOW THAT VERY WELL.
IF WE LOSE THAT, WE BECOME
SOMEWHAT OF A THIRD WORLD
COUNTRY. BECAUSE WE HAVE NO BORDERS RIGHT
NOW.
WE'RE GOING TO HAVE STRONG
BORDERS, HOPEFULLY, IN A A FEW
MONTHS. YOU NEED GREAT BORDERS, AND YOU
REALLY NEED A FREE PRESS.
WE DON'T HAVE A FREE PRESS.
YOU'RE FREE, BUT NOT TOO MANY.
THE PRESS IS VERY DISHONEST.
I GET TO E SEE IT ALL THE TIME,
BECAUSE I LU TALK TO THEM ABOUT
SOMETHING, GIVE THEM THE EXACT
INFORMATION THEY'RE LOOKING FOR,
AND THEN THEY WILL PURPOSEFULLY
WRITE IT WRONG. THE IT'S AMAY -- AMAZING.
BUT YOU KNOW THAT. LARRY: I UNDERSTAND.
I'VE HAD THAT EXPERIENCE.
♪
LARRY: ALL RIGHT.
NEXT UP, PRESIDENT TRUMP AND I
TALK ABOUT THE AWFUL STORY THAT
THAT FEMA HAS HANDED OUT SO MUCH
MONEY TO ILLEGAL IMMIGRANTS THAT
THEY'RE NOT GOING TO HAVE --
THEY WON'T HAVE SUFFICIENT FUNDS
TO MEET ANY KIND OF NEAR-TERM
HURRICANE EMERGENCIES.
IT'S REALLY A BAD STORY.
BUT STAY WITH US, MUCH MORE TO
COME.
♪ ♪
LARRY: ALL RIGHT, WELCOME BACK. PRESIDENT TRUMP ALSO A WEIGHED
IN ON THIS AWFUL STORY THAT FEMA
IF HAS HANDED OUT SO MUCH MONEY
TO ILLEGAL IMMIGRANTS THAT
THEY'LL HAVE INSUFFICIENT FUNDS
TO MEET ANY KIND OF NEAR-TERM
HURRICANE EMERGENCIES.
LET'S LISTEN TO THIS ONE.
ROLL SOME TAPE.
YOU'VE BEEN VISITING THE
HURRICANE VICTIMS AND TRYING TO
THE RAISE MONEY PRIVATELY.
FEMA IS NOW SAYING, ALEJANDRO
MAYORKAS, THEY DON'T HAVE ENOUGH
MONEY FOR ADDITIONAL HURRICANES.
THAT MONEY'S BEEN GIVEN AWAY TO
THE ILLEGAL IMMIGRANTS --
>> THAT'S RIGHT.
LARRY: ALMOST ONE BY ONE.
I DON'T UNDERSTAND THIS. THIS IS A PERVERSION OF POLICY.
>> SO YOU DON'T UNDERSTAND IT
BECAUSE IT'S NOT UNDERSTANDABLE.
IN ALL FAIRNESS, IT'S NOT
UNDERSTANDABLE.
SO WE NOW HAVE NO MONEY TO -- IT
WAS SUPPOSED TO BE USED FOR
TRAGEDY, FOR HURRICANES. THIS WAS A TRAGIC HURRICANE.
THIS WAS MAYBE THE WORST
HURRICANE WE'VE EVER HAD, AND
HE'S GOT NO MONEY.
AND WE SAY WHAT HAPPENED TO ALL
THE MONEY?
THEY WERE GIVEN BILLIONS FOR
THIS. HE SPENT IT ON ILLEGAL MIGRANTS
COMING INTO THE COUNTRY.
A BIG PERCENTAGE OF WHICH ARE
MURDERERS.
I DON'T KNOW IF YOU SAW 13,0099
MURDERERS. MANY OF THEM, I THINK 22322%,
THEY SAID -- 22, KILLED MORE
THAN ONE PERSON.
SOME KILLED MORE THAN FIVE
PEOPLE. THESE PEOPLE ARE NOW LIVING
HAPPILY IN OUR COUNTRY, OKAY?
AND ONLY BAD THINGS ARE GOING TO
HAPPEN.
TERRORISTS. THEY HAVE 645,000 VERY BAD
CRIMINALS COMING IN WITH ALL OF
THE OTHERS, AND THEN THEY HAVE
23211 MILLION PEOPLE POLICE --
211 MILLION PEOPLE PLUS, AND A
LOT OF THOSE AREN'T THE GREATEST
EITHER.
SO WE ARE POISONING OUR COUNTRY.
OUR COUNTRY'S BEING POISONED.
OUR COUNTRY'S BEING RUINED.
IT'S BEING RUINED BY THESE
PEOPLE.
AND THEY TOOK BILLIONS OF
DOLLARS AND USED IT FOR
SETTLEMENTS OF PEOPLE THAT CAME
IN, MANY OF WHICH ARE CRIMINALS.
AND THE PEOPLE OF NORTH CAROLINA
AND SOUTH CAROLINA AND GEORGIA
AND FLORIDA, VIRGINIA,
TENNESSEE, THERE'S NO MONEY FOR
THEM. BUT THEY'RE GIVING PEOPLE -- HOW
ABOUT WHEN THEY LET THEM COME IN
AND STAY IN HOTELS AND OUR
VETERANS ARE SLEEPING OUTSIDE OF
THE MAIN DOOR TO THE HOTEL?
AND THEY'RE WATCHING MIGRANTS GO
INTO A HOTEL AND VEEP IN A --
SLEEP IN A SWISS, AND THEY'RE
SLEEPING ON THE WALK, OUR
VETERANS, OUR GREAT VETERANS.
LET ME TELL YOU, IF THEY WERE
MODESTLY GOOD, I WOULDN'T HAVE
EVEN RUN ARE. THIS IS THE WORST ADMINISTRATIO-
LARRY: BUT THEY SPENT THIS
EMERGENCY MONEY ON ILLEGAL --
>> YEAH. THEY STOLE IT.
LARRY: THIS IS ALSO A PERVERSION
OF WHAT THE CONGRESSIONAL
AUTHORITY WAS.
THEY -- >> THEY'RE TRYING TO GET THOSE
PEOPLE TO VOTE, LARRY.
JUST SO YOU UNDERSTAND.
THEY'RE TRYING TO GET THEM ON
THE VOTER ROLLS.
THEY WANT TO PUT THEM ON THE
SOCIAL SECURITY ROLLS WHICH WILL
DESTROY SOCIAL SECURITY.
THIS IS THE WORST PRESIDENT IN
HISTORY. THIS IS THE WORST ADMINISTRATION
IN HISTORY.
AND SHE'S WORSE THAN HIM.
AND, ACTUALLY, IT'S GOING TO BE
HARD TO SAY THIS BECAUSE HE'S
PRETTY BAD, SHE'S ACTUALLY LESS
BRIGHT THAN HE IS.
SHE HAS NO CLUE WHAT THE HELL
SHE'S DOING.
THAT'S WHY SHE NEVER DOES AN
INTERVIEW, SHE NEVER DOES PRESS
CONFERENCE, BECAUSE SHE CAN'T
TALK.
I WATCHED OPRAH WHERE SHE WAS
INTERVIEWING ON OPRAH?
SHE CAN'T TALK.
SHE CAN'T OPEN -- SHE DIDN'T --
HOW DO YOU DEAL WITH PRESIDENT
XI OF CHINA WHOAS OOH A FIERCE
PERSON? SOMEBODY SAID, WHAT'S HE LIKE?
HE'S A FIERCE PERSON.
BUT PUTIN AND ALL THESE PEOPLE.
SHE DUD OPRAH, IF YOU WATCH
THIS, IT'S, LIKE, WHAT ARE WE
DEALING WITH?
SHE WON'T DO A NEWS CONFERENCE.
LOOK, BIDEN IS BRIGHTER THAN SHE
IS.
WE'VE GOT A PROBLEM.
AND THEN YOU LOOK AT THE VICE
PRESIDENT, HOW ABOUT THAT?
J.D. VANCE WAS GREAT.
LARRY: J.D. WAS TERRIFIC.
>> TOP STUDENT AT YALE LAW
SCHOOL, GRADUATED --
LARRY: HE DID YOU PROD PROUD.
YOU CHOSE HIM, HE DID YOU PROUD.
>> AND I KNEW WHAT I WAS
GETTING. I WAS GETTING, YOU KNOW, A VERY
SMART GUY. BUT HOW DO YOU COMPARE THAT WITH
THIS GUY WHO CALLS HIMSELF A
KNUCKLEHEAD IN HE SAYS HE'S A
KNUCKLEHEAD. HE ACTUALLY SAYS THAT --
LARRY: LET ME, I WANT --
>> CAN HE BE PRESIDENT SOMEDAY?
♪
LARRY: ALL RIGHT.
COMING UP, THE PRESIDENT AND I
TALK ABOUT THE IMPORTANCE OF
ELON MUSK HELPING TO DRAIN THE
SWAMP, REFORM EDUCATION AND HOW
MR. TRUMP'S SUCCESSFUL PROGRAM
WILL UNIFY AMERICA.
PLEASE, STICK WITH "CAN KUDLOW.i
♪ ♪
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LARRY: IN THE LAST PART OF OUR
INTERVIEW, THE PRESIDENT AND I TALKED ABOUT THE IMPORTANCE OF
ELON MUSK HELPING TO DRAIN THE
SWAMP IN WASHINGTON, REFORM
EDUCATION AND HOW MR. TRUMP'S
SUCCESSFUL PROGRAM WILL UNIFY
AMERICA.
PLEASE, TAKE A LISTEN.
I WANT TO THE TALK ABOUT ELON
MUSK FOR A MINUTE.
>> GREAT.
LARRY: WHO'S COME OUT STRONGLY
FOR YOU.
AND THIS BUSINESS, YOU TALKED
ABOUT THE NEW YORK ECONOMIC CLUB
A COUPLE WEEKS AGO.
SO ELON WANTS TO HELP WITH AN
EFFICIENCY COMMISSION.
WE HAD ONE WITH LIKE THAT IN THE
REAGAN YEARS MANY YEARS AGO.
YOU COULD USE THAT --
>> YEAH.
LARRY: I MEAN, TO ME, THIS WOULD
BE -- NOT ONLY WOULD YOU PARE
BACK UNNECESSARY SPENDING, BUT
YOU'D HAVE AN OPPORTUNITY, I
THINK, SIR, TO GO INTO THESE
BUREAUCRACIES.
I MEAN, YOU'VE NOT DOMESTIC
BUREAUCRACIES, THEY HAVE TENURE,
THEY DON'T USE CONGRESS, THEY GO
OFF ON THEIR OWN.
THEY'RE VERY LIBERAL, THEY'RE
VERY LEFT. YOU'VE GOTTISH ISSUES IN THE
FBI, IN THE CIA, YOU'VE GOT
ISSUES IN THE SECRET SERVICE.
I MEAN, TO ME, THE ELON MUSK
COMMISSION COULD BE A PHENOMENAL
WEAPON FOR BETTER GOVERNMENT AND
BETTER GROWTH.
>> HE'D BE GREAT.
AND, YOU KNOW, HE WAS TELLING ME
THE OTHER DAY I GOT A LOT OF
THANK YOUS FROM NORTH CAROLINA,
FROM IF GEORGIA IN PARTICULAR
FROM MAYBE NORTH CAROLINA, BUT
THEY BOTH HAVE THE PROBLEM,
NORTH CAROLINA'S A DISASTER,
WHAT'S HAPPENED THERE.
AND YOU KNOW THE RESPONSE HAS
BEEN THE WORST EVER.
IT'S BEEN WORSE THAN KATRINA,
THAT THEY SAY.
THAT DESTROYED A CERTAIN
PERSON'S REPUTATION.
I WON'T -- I'LL BE NICE AND NOT
MENTION THE NAME, BUT IT
DESTROYED THEIR REPUTATION.
THIS IS WORSE.
THE RESPONSE HERE IS WORSE.
AND THEY HAVE NO MONEY ON TOP OF
EVERYTHING ELSE.
BUT THEY CAME TO ME AND THEY
SAID DO YOU KNOW ELON MUSK?
ID SAY -- I SAID, YES.
THEY SAID WE DEFINITELY, WE --
IS THERE ANYTHING YOU CAN DO TO
HELP US WITH STARLINK IN BECAUSE
THEY HAVE NO -- STARLINK,
BECAUSE THEY HAVE NO THIS NORTH
CAROLINA, IN GEORGIA AND IN SOME
OTHERS TOO, THEY HAVE NO
COMMUNICATION WHATSOEVER.
ALL OF THE POLES ARE DOWNING ALL
OF THE WIRES ARE DOWN, THEY'RE
ALL LYING IN THE MUD, RIGHT?
AND I SAY, WELL, WHAT CAN I DO?
THEY SAID WE NEED HELP.
AND I CALLED ELON.
AND AND I'M TELLING YOU, IT WAS
AMAZING, THE CALL WASN'T EVEN
OVER, AND STARLINK UNITS WERE
BEING DELIVERED TO NORTH
CAROLINA AND NOW TO GEORGIA.
GEORGIA CALLED ME A LITTLE BIT
LATER AND I SAID, WE'LL GET 'EM.
THEY WERE VERY HAPPY.
THE GOVERNOR OF GEORGIA'S
ACTUALLY WORKING VERY HARD.
THEY -- EVERYBODY WAS SO HAPPY.
ELON DELIVERED SO QUICKLY..
I'M FELL TELLING YOU, OR I WAS
GETTING CALLS THANK YOU VERY
MUCH, THE CALL'S NOT EVEN OVER
YET.
AND I SAID THAT'S GREAT, ELON,
THANK YOU.
IT'S A GREAT THING, STARLINK.
BUT INTERESTINGLY, WE'RE HOOKING
UP INTERNET OUT OF THE COUNTRY,
AND THEY'RE SPENDING BILLIONS
AND BILLIONS OF DOLLARS, SO FAR
THEY HAVEN'T HOOKED UP ONE HOME.
HE CAN DO THIS WITH STARLINK --
[LAUGHTER]
LARRY: $40 BILLION UNSPENT IN
PART BECAUSE THEY DIDN'T HAVE
THE DEI REQUIREMENTS.
>> AND YOU CAN DO THAT THROUGH
THE SATELLITES, AND YOU DON'T
HAVE ANYTHING --
LARRY: AND THEY INSULTED ELON,
AND NEW THEY'RE GOING THE NEED
HIM THE RESTORE POWER.
>> WELL, HE WAS GREAT.
HE CAME THROUGH. HE DOES COME THROUGH.
HE WOULD BE INCREDIBLE ON THAT
COMMISSION -- LARRY: WELL, THAT'S THE THING.
YOU NOT ONLY CUT SPENDING, I
THINK YOU CAN TAKE A STRONG LOOK
AT SYSTEM OF THESE AGENCIES, AND
YOU KNOW THE ONES I'M TALKING
ABOUT.
I MENTIONED THEM A MOMENT AGO,
THAT MAY -- THAT REALLY ARE NOT
DOING THEIR JOB.
THEY'VE BECOME VERY POLITICAL.
>> THE ONE THING WE WANT TO DO
IS MOVE IF EDUCATION BACK TO THE
STATES.
WE'LL SPEND LESS THAN HALF.
YOU HAVE TO SEE WASHINGTON.
IT SEEMS LIKE EVERY BUILD'S
DEPARTMENT OF EDUCATION.
IF YOU TAKE A STATE, IOWA OR
INDIANA OR IDAHO, YOU KNOW,
STATES THAT REALLY RUN WELL, YOU
LET THEM RUN THEIR EDUCATION --
SO JUST QUICKLY, SO WE'RE AMONG
THE WORST IN THE WORLD IN
EDUCATION.
THEY RATE 40.
WE'RE 40, 38, 39 ALWAYS.
WE'RE IN THE WORST.
WE'RE NUMBER ONE AT ONE THING,
COST PER PUPIL.
WE SPEND SO MUCH MORE PER PUPIL.
SO WE KNOW IT'S NO GOOD, IT'S
THE NOT WORKING.
IF YOU GAVE THIS TO GOOD STATES,
ALL STATES BUT GOOD STATES,
YOU'D END UP HAVING 35 STATES
THAT WOULD BE -- NUMBER ONE IS
NORWAY, DENMARK, SWEDEN.
BY THE WAY, CHINA IS ALWAYS IN
THE TOP FIVE.
THAT'S PRETTY GOOD WITH 1.4
BILLION PEOPLE.
BUT THOSE FOUR AND A COUPLE OF
OTHERS, THEY'RE ALWAYS IN THE
TOP FIVE.
IF YOU SENT THIS MONEY TO THE
STATES TAR VERY WELL RUN, WE
KNOW THE STATES, THEY HAVE NO
DEBT, NO PROBLEM, THEY DON'T
EVEN KNOW WHAT PEOPLE ARE
TALKING ABOUT, THEY HAVE LOW
TAXES.
35 STATES, MAYBE EVEN A LITTLE
MORE THAN THAT, WILL BE GREAT.
NOW, GAVIN NEWSCUM WON'T DO A
GOOD JOB, CALIFORNIA, OTHERS
WON'T DO A GOOD JOB.
FLORIDA WOULD DO A GREAT JOB.
YOU GIVE IT TO RON.
FLORIDA WOULD DO A GOOD JOB.
ALL OF THESE STATES, THEY WILL
BE THE EQUIVALENT OF NORWAY,
DENMARK, SWEDEN.
NOW, THEN YOU'RE GOING TO HAVE
SOME OR THAT ARE GOING TO BE
LAGGARDS AND YOU'LL HELP THEM
OUT AND DO WHAT HAVE YOU HAVE TO
DO, BUT THEY'LL BE LAGGARDS.
WE WILL SPEND LESS THAN HALF THE
MONEY, AND WE WILL HAVE SOME
UNBELIEVABLE EDUCATION --
LARRY: AND YOU'RE STRONG FOR
SCHOOL CHOICE.
>> TOTALLY FOR SCHOOL CHOICE,
GOTTA A HAVE IT.
LARRY: JUST TALKED ABOUT IT
YESTERDAY. >> YEAH.
IT'S NEVER TALKED ABOUT, BUT
SCHOOL CHOICE IS VERY IMPORTANT.
IT'LL HAPPEN. LARRY: SO LET ME JUST -- YOU'VE
BEEN WONDERFUL WITH YOUR TIME,
AND I APPRECIATE IT.
I PERSONALLY APPRECIATE IT.
>> I HAVE TO SAY TO YOUR
AUDIENCE, NUMBER ONE, HE'S
GETTING GREAT RATINGS D.
[LAUGHTER] AND IF HE WASN'T, ID -- I'D
STILL DO THE SHOW, BECAUSE I
LOVE HIM.
HE DID AN UNBELIEVABLE JOB.
AND I REFUSE TO ASK YOU IN FRONT
OF YOUR AUDIENCE WOULD YOU LIKE
TO COME BACK, BECAUSE YOU KNOW
YOU'LL BE INVITED.
>> THANK YOU, SIR.
>> LARRY KUDLOW HAS DONE A GREAT
JOB, AND I'M SO PROUD THAT YOU
HAVE SUCH A SUCCESSFUL SHOW.
LARRY: IT'S BEEN A GREAT RIDE.
>> I DON'T KNOW IF THEY KNOW HOW
SUCCESSFULS, I HAVE TO TELL
THEM.
LARRY: THANK YOU, SIR.
VERY KIND.
>> GOOD JOB.
LARRY: SUCCESS IS THE BEST
REVENGE, SUCCESS BRING THE
COUNTRY TOGETHER.
SUCCESS WILL UNITE THE COUNTRY.
>> THAT'S RIGHT.
LARRY: YOU TALKED A LOT ABOUT IT
AT THE CONVENTION.
>> I SAID IT.
LARRY: YOU STILL SEE IT THAT
WAY, YOU STILL BELIEVE THAT?
>> WHEN I WAS RUNNING THINGS, WE
HAD THE GREATEST ECONOMY IN THE
HISTORY OF OUR COUNTRY.
AND I WILL TELL YOU THAT OUR
COUNTRY WAS COMING TOGETHER.
AT THE BEGINNING, SO VICIOUS.
BUT WE HAD A TIME TWO AND A HALF
YEARS IN, IT WAS NUMBERS THAT
NOBODY'S EVER SEEN BEFORE.
AND PEOPLE ARE CALLING ME, THEY
LIKE TO CALL THEMSELVES
PROGRESSIVES OR WHATEVER, BUT
PEOPLE THAT WERE FAR LEFT WERE
CALLING ME. THEY WANTED TO MEET, THEY WANTED
TO TALK.
SUCCESS. EVERYBODY, MEN, WOMEN, PEOPLE
WITH THE HIGHEST DEGREE, PEOPLE
WITH NO COLLEGE DEGREE, NO HIGH
SCHOOL DEGREE, ALL DIFFERENT
GROUPS, YOUNG PEOPLE, OLD
PEOPLE, THERE WASN'T ONE GROUP
THAT WASN'T DOING THE BEST EVER
IN THE HISTORY OF OUR COUNTRY.
AND OUR COUNTRY WAS DOING THE
BEST EVER IN THE HISTORY OF OUR
COUNTRY.
WE WERE TAKING IN A LOT OF MONEY
FROM CHINA, WE WERE TAKING, YOU
KNOW, WITH THE TARIFFS AND
THINGS IF TAXES. BUT FAIRLY.
WE WERE TREATING THEM FAIRLY.
MY RELATIONSHIP --
[AUDIO DIFFICULTY]
BE VERY GOOD.
I'M NOT SURE THEY LOVE ME
BECAUSE OF THAT, BUT WE WOULD
HAVE A VERY GOOD RELATIONSHIP
WITH CHINA. A VERY GOOD RELATIONSHIP.
YOU KNOW, LARRY, I HAD NO WARS.
LARRY: THAT'S RIGHT.
>> NOW THE WHOLE WORLD IS
BLOWING UP.
LARRY: THAT'S RIGHT. >> AND VICTOR ORR BAN SAID YOU
GET TRUMPING BACK, AND HE'LL
STRAIGHTEN THINGS OUT.
THEY WERE ALL AFRAID OF TRUMP.
I DON'T WANT TO SAY THAT, I
WOULD SAY MAYBE THEY RESPECTED
ME, BUT HE SAID NOT RESPECT,
THEY WERE AFRAID OF HIM BECAUSE
THEY DIDN'T KNOW WHERE HE WAS
COMING FROM.
NOW THEY'RE NOT AFRAID.
THEY LOOK AT THIS GROUP, THESE
TWO PEOPLE.
LET ME TELL YOU WITH, SHE WILL
BE A WORSE PRESIDENT THAN HIM.
IF SHE WILL BE A DISASTER.
THIS COUNTRY WILL GO DOWN.
WE WON'T IS HAVE A COUNTRY LEFT.
AND I SEE THE AWAY THEY LIE AND
THE WAY THEY CHEAT AND THE WAY
THEY'VE WEAPONIZED GOVERNMENT.
ALL THEY WANT TO DO, THEY WILL
LET SOMEBODY ROB A CONCERN ROB A
BANK, YOU'RE FINE. YOU CAN DO ANYTHING YOU WANT TO
DO ON THE STREET.
BUT THEY GO AFTER THEIR
POLITICAL OPPONENTS.
THEY GO AFTER RELIGIOUS PEOPLE,
AFTER CATHOLICS.
I'VE NEVER SEEN ANYTHING LIKE
IT. THEY GO AFTER JEWISH PEOPLE.
THEY A HATE ISRAEL.
THEY HATE JEWISH PEOPLE.
AND HOW CAN YOU HAVE THIS IN OUR
COUNTRY IN HOW CAN YOU HAVE THIS
AS A YOUR PRESIDENT?
IF SO WE WILL SEE WHAT HAPPENS.
WE'RE LEADING, AND THEY WERE
DOING VERY WELL.
IT WAS VERY UNFAIR IF BECAUSE
THEY TOOK SOMEBODY OUT WHO HAD
514 MILLION VOTES -- 14 MILLION
VOTES, HE HAD IN VOTES.
AFTER THE DEBATE I HAD WITH
BIDEN, HIS NUMBERS WEREN'T VERY
GOOD, AND THEY TOLD HIM, YOU'RE
GETTING OUT. HE SAID, NO, AND THEY SAID,
YOU'RE GETTING OUTMENT THEY WERE
GOING TO PLAY THE 25TH AMENDMENT
CARD X HE AGREED TO GET OUT.
VERY UNHAPPY.
HE'S A VERY UNHAPPY MAN RIGHT
NOW. BUT IT WAS A COUP.
BUT FROM MY STANDPOINT, I SPENT
$200 MILLION ON FIGHTING HIM, WE
TOOK A 21-POINT LEAD, A VERY BIG
LEAD, WE WERE GOING TO ONE MOST
LIKELY. ALL OF A SUDDEN I HAVE TO FIGHT
SOMEBODY ELSE.
AND THEY SAID HONEYMOON PERIOD.
NOW SHE'S HAD THE HONEYMOON
PERIOD, AND PEOPLE HAVE FOUND
OUT SHE'S RADICAL LEFTIST, SHE'S
A MARXIST. A LOT OF PEOPLE DON'T KNOW WHAT
MARXIST IS.
YOU COULD SAY COMMUNIST.
NOT THE SAME THING, BUT IT'S
CLOSE.
SHE'S VERY BAD FOR THIS COUNTRY.
SHE WILL DESTROY THIS COUNTRY.
LARRY: MR. PRESIDENT, THANK YOU
FOR YOUR TIME.
>> THANK YOU VERY MUCH.
LARRY: AND YOUR WISDOM.
>> THANK YOU VERY MUCH.
♪ IF.
LARRY: ALL RIGHT.
THERES IT IS.
I'LL BE BACK WITH MY IF LAST
WORD.
PLEASE STICK AROUND.
♪he
♪ is up in the stand
s.
Maybe I'd rather go to school for insurance. s.
I didn't raise no insurance man.
But you did, Dad. Football's your passion.
But mine is providing around-the-clock protection
to Progressive customers who bundle home and auto.
Jamie, we need you out here for football.
You're giving up on your dream, James.
No, Dad.
I'm giving up on yours.
No, James, wait!
Oh, that's not the exit.
♪
When the sawdust settles
and the engine finally roars
the thing you care about most
is a job well done.
♪
But when you get your tools from Harbor Freight
something about the job feels a little different
- your wallet.
Because we believe no matter what you're working on
you need high quality tools at a great price.
And that's what we're all about.
♪
Whatever you do,
do it for less,
at Harbor Freight.
♪
LARRY: WELL, IT WAS A GREAT
PLEASURE TO SIT DOWN AND HAVE A
CONVERSATION WITH PRESIDENT
TRUMP, GREAT PLEASURE.
COUPLE KEY POINTS, I MEAN, THERE
WAS A LOT THERE, BUT A COUPLE
KEY POINTS, YOU KNOW, TARIFFS
CAN BE USED IN PURSUIT OF
RECIPROCITY.
WHICH COULD ACTUALLY CREATE
FREER AND FAIRER TRADE.
I THINK THAT WAS IMPORTANT.
NUMBER TWO HIS DESIRE FOR A
GOLDEN AGE OF AMERICA WITH LOWER
TAXES, WITH KING DOLLAR, LESS
INFLATION, DEREGULATION, DRILL,
BABY, DRILL.
IT'S A GROWTHIER AMERICA.
THAT'S PART OF HIS VISION.
ALSO THE ELON MUSK PIECE.
ELON MUSK HELPING OUT, THERE'S A
GOOD RELATIONSHIP.
IT'S AN ALLIANCE NOW BETWEEN MR.
CUTTING SPENDING, DRAINING THE
SWAMP, DEALING WITH SOME OF
THESE RECALCITRANT AGENCIES THAT
HAVE GONE SO FAR TO THE LEFT
LIKE THE FBI AND LIKE THE CIA
AND PERHAPS THE SECRET SERVICE
AND CERTAINLY THE FEDERAL
BUREAUCRACY NEEDS CHANGING.
AND MR. TRUMP DID MAKE A PITCH
FOR SCHOOL CHOICE.
I THOUGHT THAT WAS VERY
IMPORTANT.
AND THEN FINALLY, YOU KNOW, HE
BELIEVES HIS SUCCESSFUL
PROGRAM -- AND HE HAS A TRACK
RECORD TO PROVE IT IN HIS FIRST
TERM -- HIS SUCCESSFUL PROGRAM
WILL BRING THE COUNTRY TOGETHER.
CAN UNITE AMERICA.
GROWTH AND FREEDOM AND REFORMS
AND RESPECT AROUND THE WORLD AND
CLOSING THE BORDER AND ALL OF
HIS TRADITION TRADITIONAL
THEMES. I THINK WHAT HE'S SAYING IS
PEACE AND PROSPERITY IS
SOMETHING THAT IS VERY POSSIBLE,
AND I THINK ALL THAT CAME OUT
THIS THIS CONVERSATION.
SO THE IT WAS A GREAT PLEASURE
FOR ME TO DO IT AND A GREAT
HONOR, AND IT WAS ALSO GREAT
FUN. WE HAD A GOOD TIME.
ANYWAY, SPEAKING OF PEACE AND
PROSPERITY AND HAVING GREAT FUN,
MY PAL, LIZ MacDONALD, COMING
UP NEXT.
ELIZABETH: LARRY, IT WAS SO
DETAILED.
YOU REALLY DUG IN THERE.
SO FASCINATING.
THANK YOU SO MUCH.
GREAT INTERVIEW WITH FORMER
PRESIDENT TRUMP. HAVE A GOOD WEEKEND.
WELCOME TO "THE EVENING EDIT,"
I'M ELIZABETH MacDONALD.
>> SHE'S AWARE, WE'RE SINGING
FROM THE SAME SONG SHEET.
SHE HELPED PASS ALL THE LAWS