as you know, the nasdaq is on track for a record close, just a day after the markets kind of, collapsed a bit in the wake of a, you know, consumer inflation that was hotter than expected. are you buying any tech stocks at this point? >> not really. we're looking at valuation. you can own nvidia, or can own all the electric utilities, plus ge, plus ibm and their weighting is embedded in the s&p 500. so, we believe that there are better places to look, more defensive places to look in the spirit of financial "whack-a-mole" we started with. liz: it is great to have you. [closing bell rings] liz: the dow just fumbled all of its gains. some has to do with the morgan stanley story we brought you. meantime nasdaq closes at a

record. we'll see you tomorrow. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. biden's inflation game, biden's inflation blame game sever seems to end. he is a car salesman selling ev lemons to people who aren't buying and spreading de i-man dates like a virulent woke virus throughout the government. anyway, vivek ramaswamy will weigh in on all of that in a moment. plus we have jason trennert, our own brian brenberg. message to wall street, no rate cuts. senator kevin cramer won a big one to keep gas-powered cars but what is he doing for us lately? 330,000 illegal immigrants flown into florida. we have florida house member anna pa lena luna, pennsylvania member scott perry. will iran retaliate against israel? we'll ask former israeli ambassador david friedman about that and more.

first up the edward lawrence at the white house with all the latest. edward, what you got? >> reporter: the white house trying to remessage the economy here. the president trying to turn around sagging poll numb brothers. the fact prices remain 19% higher from the month president biden took office. there is what the president said about inflation in the rose garden yesterday. listen to this. president biden: we have dramatically reduced inflation from 9% close to down to 3%. we're in a situation we're better situated than we were when we took office, inflation was skyrocketing. we have a plan to deal with it. >> reporter: but the president was wrong. in fact, larry you know inflation was under 2% for 11 consecutive months leading up to january 2021. the month president biden was sworn in inflation was 1.4%. not exactly skyrocketing. here is the white house press secretary cleaning up the president's comments.

listen. >> when we walked in, the pandemic, the disruption of the supply chain, all of these things were happening when the president took office. >> but the president didn't say the supply chain was being disrupted. he said inflation was skyrocketing. >> that is what he was referring to, right? that is what was going on. those are the things happening right before us. the pandemic, it was taking thousands of lives a day when he took office. >> reporter: so let's look at how this started and where it is going. the president pushing a forced transition to electric. electricity is up 21.9% since the day president biden came into office. go to the grocery store, all food is up 21% in that time. >> they're doing everything wrong. they're implementing taxes, they're continuing spending. their assault on energy, their assault on banks and the overregulation and what the worst part is there is no course correction taking place. >> reporter: the president saying that his plan is working,

larry? larry: yeah, his plan is working. you know what? >> reporter: left you speechless, left you speechless. larry: he is entitled to his opinions about policy but he is not entitled to lie about facts. that's the problem i'm having. policies i get it. he is a liberal, yeah. you just can't lie with impunity. anyway, edward lawrence thanks a million, appreciate it. folks want to hear a great stat, think about this. a "gallup poll" just asked voters about electric vehicles. this is maybe the biggest centerpiece of joe biden's policies. talks about it all the time. his green bureaucracy, spends their days telling americans how they are supposed to live what they can and cannot buy. you know the litany, dish warners, microwaves, gas furnace, gas stoves, shower heads, gas powered cars, my gosh the list is practically endless all in the name of climate change. remember our friend bjorn

lomborg estimates global government spending on climate change, wait for this, each year is now $27 trillion, each year and hasn't moved the needle one bit. but back to gallup's evs. in just one year the percentage of people who might consider buying an ev has dropped from 43% to 35%. the percentage of people who are seriously considering buying an ev has dropped from 12% to 9%. and those who may never buy an ev has gone up from 41% to 48%. these are staggering numbers. and car salesman joe biden is out there selling these lemons. know what? biden's evs are the modern-day ed self our time. ford brought the car out in 1957, it promptly became one of

the biggest failures in automotive history. three years later they had to bury it. so i'm going to bet at some point in the presidential campaign mr. biden buries talking about evs. well give that a maybe. meanwhile obama advisor david axelrod has told biden to drop "bidenomics" completely and instead adopt more of a clintonite message, i feel your pain and we're working harder to do better. that is not what biden is doing. instead he is blaming donald trump for everything that's gone wrong, inflation in particular which is not only stubborn but moving significantly higher like and inflation thief stealing middle class wages in the middle of the night. hat tip to the "wall street journal." and there aren't going to be any fed rate cuts to juice biden's sagging election year economy. in fact, real worker wages are going down again. over the course of his

presidency, real hourly wages have dropped 2 1/2%. real weekly wages have dropped 4 1/2%. but, biden keeps blaming trump, who was inaugurated nearly seven years ago. first declared his presidency almost nine years ago. enough already. this is the dumbest blame game in history. okay, fine, let's look at the scoreboard for a moment. under biden the level of the cpi has gone up over 19% in 38 months. his average inflation rate per year is 6.1%. it is the highest in 40 years. under trump for his entire four-year term the cpi level wint up only 7%, or 1.9% yearly. blame trump? for what exactly? so you think joe biden would try to convince working class folks

that he is going to bring down inflation by, for example, cutting government spending. now that's a thought but he won't say that because. a, he doesn't believe it, and b, he is not doing it. we're halfway through the fy-24 budget year and the deficit is now running a trillion dollars, halfway through the year, on track of course for $2 trillion for the whole year, which is basically what the cbo baseline shows, roughly two trillion dollar deficits as far as the eye can see. that is most certainly not going to reduce inflation, or increase the take-home pay of working folks or solve their affordability crisis. and coming back to joe biden's centerpiece green new deal policy the misnamed inflation reduction act will cost a trillion dollars in the years ahead. for what? for cars people don't want?

politically slush funds for favored producers who love corporate welfare in history but whose companies will go bankrupt in due course? by the way have you seen a lot of electric chargers in your suburban neighborhoods? if your ev battery runs out can you seriously call a tow truck operator who will have a handy electric charger connection in his vehicle? i doubt it. if you take a look at auto insurance rates have blown sky-high 20% annually in the last quarter because evs are more dangerous and harder to repair. but biden keeps blaming trump for everything. and he keeps spreading untruths about trump's record and his own, biden's spending and deficits and debt creation, more untruths. that is not a platform. it is not a future vision. every time biden lies, he diminishes confidence in his ability to lead in government.

one big reason his economic polls are in the high 20s or low 30s, is that people have no confidence that his policies will provide future growth and opportunity. actually, they don't even know what his policies are, except blaming trump. you know what? that's a political loser if i have ever seen one. okay? that's my little riff. now, great fun, joining us now is vivek ramaswamy, former 2024 presidential candidate, author of, "nation of victims," identity politics the death of merit and the path back to excellence. vivek, thank you ever so much for coming back on, we love to have you. just a few moments, coasts of living inflation going up, working folks cost of living and biden blaming donald trump knocking out two trillion dollar deficits. i never seen anything so bad, that includes selling this lemon

ev thing in fact the ford edsel of our time. what do you make of it, vivek? >> the thing is simple, end electric subsidies. if you want to bialek trick vehicle you're free to do that. we live in a free country. hud not expect the taxpayer base should not pay for that. outside after small minority on the two coasts get behind. you don't want to subsidize the neighbor's car choices this is the kind of capitalism, which is not capitalism at all. state directed capitalism, biden directed capitalism led us to the economic plight we're in. prices are gone up. wages in many parts of the country remain flat. whatever, you know well "bidenomics" whatever they want to call it the numbers speak for themselves for the people in their daily lives and i think if we can seize on that message to offer an alternative economic vision, capitalism is the best known system known to man to lift us up from poverty, that we

don't have to apologize for our success, whether in the middle class or the wealthy categories, you know that what lift this country. we shouldn't apologize for it. success will unite this country in a way biden has not. larry: you know, vivek, i don't think we should apologize for freedom and free consumer choice. i mean they're trying to, the bidens are trying, you know, jam down so many things in the name of climate change and spending all this money, right. the misnamed inflation reduction act is all about spending a trillion dollars more for climate change. frankly, on stuff people don't want, but as you say, okay, let them choose. just take the subsidies away. you can save a trillion dollars. i will bet you, vivek, if mr. trump wins, his budget people are going to go after those subsidies right away, top of the list, i mean it. i've talked to some people in the budget area, people that i worked with, when i was in the government, going after that stuff, right away.

in fact that stuff you know, canceling that stuff will help, you could support continuing mr. trump's tax cuts and growing the economy at four, 5%, instead of 2%, you follow my logic? we shouldn't be, free, free consumer choice is part of freedom. that is the point i'm trying to make. >> absolutely. the fact that we have to sit here talking about this right now, larry, these are basic concepts. you think about those kinds of changes, yes of course the trump administration should take up that low hanging pruitt. there is lot of ingenious ideas we need to pursue but this is base level stuff. let consumers choose what they actually want to buy. that is the way our system worked for 250 years. that made america the greatest economic experiment in the history of mankind. we don't need to reinvent soviet models, state directed, socialist, worse than socialist government controlled economy which is the left's vision.

truth most americans reject this. clintonite, democrats or republicans. most people in this country you should should achieve maximum potential with your even hard work, dedication, without anybody penalizing you with the tax code or regulatory infrastructure or penalizes you with the modern left you see it with the education system to our economy. we need a path back to excellence in the united states of america. that is what this country was founded on. larry: vivek, another one you will love. biden government making a very big push, putting out an executive order that all federal bureaucracy people, everybody, hhs, education, you name it, everybody wants this, got a whole list, sba, instead of abiding by the hatch act, they are going to get paid ad administrative leave to go out and electioneer which sounds to me a lot like voter harvesting.

with h we know they're liberals. here is more, vivek, dei orders in the state department, last 24, 48 hours, and the defense department, okay? then of course you've got this other business where they're trying to push through the climate corps, eight billion dollars for 50,000 climate people. i call them climateers. little fuzzy woke climate ears, what they are. they are trying to mobilize the entire government to reelect joe biden. i never seen anything like it. norm, furthermore, the emphasis on dei, which is the exact antithesis of a merit-based bureaucracy which is what i think we ought to have, what do you think about this, this is all new in recent days, vivek? >> if you think about mobilizing the federal bureaucracy to reelect joe biden don't leave out the top of the list, the doj, fbi, the federal police state.

there is three word answer i stand by it, i stand by it during my own presidential campaign, shut it down. we should not have millions of bureaucrats crawling around washington, d.c. clogging up the pores of our constitutional public. there are three branches of government in the constitution, executive, legislative, judicial. there is no fourth administrative branch. one of things we've seen in the biden administration, one of the most frightening things we've seen in all american history, the weaponization of that administrative state to do the political bidding of the administration. getting done you there the backdoor, the administrative state, bureaucrats what they could not get done through the front door of law making. that is a danger to the future of our constitutional republic. we've seen that at level of doj, fbi. multiple prosecutions of the lead contender of the opposition party. that has never happened in american history. it is happening now. not just at the left of the doj. it is rampant across three

letter agency across the board. that is the real threat to our constitutional republic today, is those unelected bureaucrats, the people who we never elected to run the government, who are wielding political power, backdoor regulatory power across americans and businesses across this country. the right answer, get in there, you can't reform that beast. touch slay it. shut it down. that is what it will take. i think a second trump term will be poised to go even further than the first trump term getting that job done. one thing that will save it, shut down the fourth branch of government. larry: amen to that, vivek. a fourth thing, thing executive orders are being challenged with the supreme court. these executive orders are basically to use the current bureaucracy to go out and, i'll say win the election or maybe steal the election for joe biden. he is trying to mobilize bureaucracies like we have never seen before.

his, throw out the hatch act, vivek, politicize everything. please give me your last word? >> my last word, i don't mean to be foreboding about this i think we're just seeing the tip of the iceberg. this system, these people made clear they will stop at nothing to keep one man, donald j. trump from retaking the white house. i fear the next seven months we'll see unprecedented steps we've never seen in american history. we already have. up to us to stay one step ahead. explain to the american people this is what we stand for, deliver a landslide of historic proportion. that is what is going to be required here. larry: terrific stuff, vivek. always energizing to talk to you. thank you ever so much, my friend. we'll see you soon. folks coming up here on "kudlow," jason trennert, brian brenberg to wall street, no rate hikes, no rate cuts, there could be a mysterious rate hike though. we shoot straighter than the masters golf tournament. hang with "kudlow" right here,

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brian brenering, host of "the big money show." gentlemen, welcome. let us play a clip from joe biden. let you react for this. president biden: i do stand by my prediction there will be a rate cut. we're better situated we were when we took office, inflation was skyrocketing, we have a plan to deal with it. larry: okay, there are three things going on in there. one is, there is going to be rate cuts. two is he inherited skyrocketing inflation, and three, what was the three one, he will do something about it? >> they have a plan. larry: they have a plan to do it. which is wonderful. i had this this in riff. i don't know if you heard about it. deficits first half of 24 already a trillion. cbo basically trillion as far as the eye can see. jason you start. you have three options here, wonderful biden quote. >> first i may agree with him on the fact that the fed is going to ease, mainly i think not done

easing. i don't think they should ease. larry: owe, oh. all right, go ahead. >> they don't want president trump to win i don't think, the staff. the second thing i would say, the idea they inherited inflation problem. larry: you're saying they do want him to win? they will juice the economy. >> they want biden to win. they do not want president trump to win, the staff. larry: got it. >> secondly the idea they inherited the inflation crisis it is factually untrue if you look at just the data. inflation was on inauguration day, we have done common man cpi, peoples standard of living has deteriorated seven or 8%. larry: what is couple ingredients. >> as you suggested i think i got the idea from you, the reverse core. it's food,. larry: right. >> it is food, energy, shelter, clothing, utilities. larry: insurance by the way? >> insurance. larry: there you go. insurance is exploding he specially ev, the stupid ev insurance is up 20% at an on all rate in the first quarter,

according to larry lindsey. please continue. >> all the things you have to buy, right? for most people eating -- larry: how much is that up? >> that's up 22% since 2001, inauguration earnings the last year? >> the wages are up, last year, it is up 3.9% year-over-year. so it is outpacing cpi. larry: killing it. brian, go to you, do you think the fed is going to cut, do you think the fed will cut rateses? >> i don't think so, i don't think so. i hear what you're saying on the politics of it but the data doesn't support it i think they will have a very hard time saying we're going to go ahead with this. biden's going to hate it. here is what is going to happen. biden says we'll get a cut but watch what elizabeth warren and bernie sanders start to do in the next few months because those are the guys, they're already behind the mouthpiece. they're going to ramp up the calls for these cuts so hard. larry: makes it impossible for the fed to cut. >> that's the thing. larry: it politicizes, if the

socialists are calling the tune, the fed looks like a bunch of weanie dummies. make that woke weanie dummy. >> call me crazy i don't think powell will not react. larry: i'm with you. >> you know what? we're not going to go cut. larry: you're sitting on, taylor riggs, said this talking outside on the 20th floor, jay powell's new favorite thing, core services ex-rents. if you don't like it you don't like it but that is supposedly his new rate. it is up 8.2% the last few months at annual rate. the other measures are up at 4% at annual rate. wait, market price indicators, wayne angell, manley johnson, crbs, goldman sachs, those are booming, bonn rates are rising again. what is the case, jason, a savvy investor like you? >> look at financial assets, bitcoin, gold. larry: yeah. >> stocks, credit spreads are

tight as a drum. everything is telling you that financial conditions are easy. the case is getting worse for the fed to ease, not better. larry: are you kidding? >> yeah. larry: i just want to about back, reading -- you read larry lindsey. brilliant economist. great fun to read larry lindsey. old friend, dear friend. he has not only changed his mind, he thinks -- i don't choir what the forward futures people are wrong, they have been wrong for 300 years, they will be wrong this year. now they're moving it to september. he reminded us, larry lindsey, give him full credit, janet yellen who has been a poor treasury secretary but a pretty good fed chair, she tightened, raised the fed funds rate right after the election in 2016. in fact the fed meeting was in december and she raised the fed funds target. i think she raised it a couple more times in 2017 because inflation pressures were going.

i'm suggesting, brian brenberg, i will start with you, that jay powell is reading that playbook, okay? that, not only will there be no rate cuts but they may have to raise rates once or twice after the election? >> let me say this. larry: long shot maybe but -- >> that would be, this is sort of a watershed moment right now. you will go one of two-ways. if you do that, what it tells you is the fed may be re-establishing real independence. if he reads that playbook. larry: yes. >> but you make a good case. if he cuts, no mistake, right now, given the data that means you've got a hopelessly politicized fed. larry: right. >> one is a great move and one is terrible. larry: and you have potentially worse and worse inflation story. >> yeah. larry: that would be a repeat of the 1970s. then you would see the dollar crashing. gold is already up, commodities. you can't do it, jason.

>> no. larry: how can a smart investor like you suggest they are going to cut rates? >> i'm just trying to be realistic -- larry: get jason trennert on, he is the smartest investor on wall street. [laughter] >> i tell you what is likely, not what i think what should happen. larry: what should happen, jason trennert? you're running the treasury department which may come true some day, what should they do? >> they should stop spending money they don't have. larry: ah. >> you can't run budget deficits 7% of gdp. never done that with the unemployment rate below seven. larry: unemployment rate below four. what happened to the phillips curve now that we need night there is no coordination between monetary and fiscal policy. that is why it is impossible in my opinion to put the toothpaste back in the tube as far as inflation is concerned. 65% of the budget indexed to inflation. getting to two is a long shot. larry: brian 30 seconds. >> inflation resuscitation plan, biden spending will make the

fed's work impossible. larry: isn't that something, biden is out there with a straight face telling us he is cutting the deficit. >> with sunglasses on. larry: jason trennert, brian brenberg. catch brian with taylor riggs, jackie deangelis weekdays, 1:00 p.m. eastern on "the big money show." it is a fabulous show right here on fox business. coming up on "kudlow," biden flying 330,000 illegals into florida in the dead of night. love that. we'll talk built with florida congresswoman anna paulina luna and congressman scott perry. plus senator kevin cramer, one of my favorite friends, he finally scored a win on goss powered cars. you're only as good as your last trade. what are you going to do next? what are you going to do next? (li'm kudlow. stick festival? (stylist 1) oooh you got your corn pudding... you got your corn chowder... around. where would they find it? (stylist 1) ...and then they dip it in butter, then bam, it goes right in.

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♪. larry: all right, let's head up to capitol hill. joining us now florida congresswoman anna paulina luna and pennsylvania congressman scott perry. welcome to both of you, thank

you very much. >> thank you. larry: anna, you've got a problem. according to the numbers that i found the illegal immigrants flying over into the united states, bypassing go, bypassing borders, bypassing tsa, 386,000, but anna, the numbers i came up with is 326,000 have gone directly into florida. you are as they say, the league leader, you're the major league leader. how is this possible? how is this policy possible, and what if anything can either of you do about it? >> well, obviously this administration has been doing everything they can to not only lie to the american people about the true numbers in this country. so to be clear there is upwards now over 22 million illegals in this country, but referencing florida, specifically, our governor set forth some of the strongest immigration, to counter illegal immigration laws in the country. frankly if we come across them,

they're getting deported whether or not they want anything to do with it, they will not see it in the state of florida. larry: what do you do, this is honest question, almost technical question, if they're nying from venezuela what can you do about it? governor desantis has been tough about this to his great credit, but what can you do? >> i can tell you we already did our jobs as congress is concerned. we passed hr.2 last year which our bar was for border security and the senate has been sitting on this. they have been again lying to the american people what is really happening on immigration. my colleague representative scott perry has been on the floor multiple times hey, are we going to allow to the senate to continue to get on this or get tough at the negotiating which is exactly what we're doing. >> i tried, larry, i tried our best, we can take away funding that this administration, the biden administration has been using to fly those people into

america illegally. we could also take away the funding they're using to bring them across the border illegally. the other thing that we can all do is coming in november. you know what that is. larry: yes. no, no, i get that, but scott, let me stay with you on this, to anna's point, you've got hr.2, which is a very good bill. i guess the senate won't move it. they won't look at it. can you stick to your guns on this? i know you have got a ukraine funding bill. ukraine is real and so forth but people are focused on the border. the border is the border and it is so important. is there a way, is there a strategy as we move into this section of congress, scott, to move hr.2, to press it, to threaten no action on other bills, et cetera, et cetera? i don't want to put up the options. i want to hear what you have to say. >> well i agree with you and i think that my colleague from florida agrees with the same. any bill that is a must-pass

bill, including this supplemental they're envisioning, whatever it is, anna and i don't know what is in it, we haven't seen the text or anything yet, assume they will come up with something, we'll insist likely on passing not only hr.2, the most, the most righteous border security bill ever to come out of congress but also metrics associated with that, because just passing a bill, larry, as you know will not force the biden administration to follow the law. there is already hundreds of laws they're not following now. that is not going to be enough. it will have to be tied to metrics. if they actually want to get that money for ukraine or whatever else it is, they must perform first. we want cash on the barrel head. we want to see the numbers come down to the level that is described in any legislation and then we will give some of whatever money that we would agree to but that's a concept we need to see. we need to put the meat on the bones of that. need to see the particulars. that is how it can be done. larry: anna, let me go to a

different subject but a related subject. you're talking about defunding these air flights and other matters. we're getting out very hot inflation numbers, heating up again and the budget deficit for the first half of the fiscal year '24 as you buys guys probably know is one trillion dollars. you may hit two trillion. you may go above two trillion. there is so much spending causing inflation, working folks toe lose their money with inflation, stealing money in the dead of night. any plans in upcoming sessions to go after spending? joe biden won't do it. all he does is tell untruths about it. is there something you guys can do? if nothing else make some noise about it? >> honestly we're making that noise. i am proud to report that i never vetted for spending or cr i will stick to that. this november we'll have a different president that understands how to run a country and how to run a budget.

we're hopeful once that happens we can if anything balance a budget. that is something congress hasn't done in a long time. get to single subject appropriation bills. that is something we fought for back in january. if the american people are really tired of what we're seeing up here, i know we're tired of we are, stop sending us the same old people. larry: i will ask both of you, last few seconds, scott first, i think president a, a president biden will seek executive budget impoundment authority. this goes all the way back, the last president to have it was richard nixon. they took that away in the watergate congress but for the last 200 plus years presidents could impound budgets that were either inefficient or irrelevant, non-conforming. will you back him on that, scott perry? there may be a constitutional issue, i'm sorry, will you back trump on that budget impoundment authority?

>> i was going to say i don't see president biden for impoundment. larry: slip of the tongue. >> i would back president trump on the impoundment authority. quite honestly anybody in congress other than my good friend from florida and a few others here are actually willing to rein in spending. first place it can start, we could work on it right now, setting the top line but chuck schumer and president biden have absolutely no interest in setting a top line that is lower than the top line now. every 100 days or so, an extra trillion dollars being clipped off. it will keep going under this administration, which is why the cost of living is going to keep going up and you will not see any rate cuts. if you do, they will be at the end of the summer, just in time for the election. larry: no rate cuts. they pulled that, the fed will destroy itself. anyway you too are great. congresswoman anna paulina hewn that. thank you very much. congressman scott perry, good to see you again. we'll shift gears to the other

side, senator kevin cramer. mr. cramer finally got a wind, got a win to stopping end of gas-powered cars, you're a great friend, on wall street you're only as good as your last trade. everyone fears you. you stopped this end to gas-powered cars and these crazy tailpipes emissions. what is your next campaign, senator cramer? >> well, i think it is permitting reform quite honestly f we want to stay with transportation, we want to stay with energy, we want to stay with environmental policy, let's get permitting reform to build out the type of infrastructure we need for gas powered cars and electric generation and moving that electric generation distributing it to market but i think we're going to have some more of these types of fights where federalism is actually on the floor. where the overreach of the federal government into the powers of the states and the powers of elected officials is

stymied. both by congress, but also by courts. because remember this success i had yesterday in overturning the "biden rule" on gas-powered cars, more importantly greenhouse gas emissions measurements, that is one of many fights, this court really developed by donald trump and mitch mcconnell, over the last few years, not just in the supreme court but other courts have been very cheer, with using major questions doctrine, prohibition, lack of prohibition is not a license for federal agency to whatever they want. same with waters of the united states. return powers to states. supreme court will take up a chevron doctrine case. all of this is slowly turning the ship of the constitution back in line with what the founders had in mind. larry: incredibly important, you're so right. originally went back to pennsylvania versus epa, so very -- you know, stopping lng, new lng permits is crazy. it is the stupidest thing in the

world. the last one i will give you, we were talking about budget cuts with some prominent house members a moment ago. kevin, latest gal up poll, nobody want -- "gallup poll," nobody wants evs, the anti-inflation reduction act misnamed spend as trillion dollars on subsidies and corporate welfare handouts that nobody wants and it should be repealed. or, a president trump should impoundment, i give you the last word. >> i love the idea of impoundment, larry, but we need to take a look at all of this tax policy that provides these subsidies and these credits to everybody's favorite type of energy. the production tax credit for wind, for example, has been around for over 30 years. i understand, larry, i'm not completely against early technologies and emerging technologies that need a boost in the early stages, that have promise but these early, investments become permanent investments and they just become

pigs at the trough. then they compete with efficient energy like coal generated and natural gas generated and nuclear generated electricity where everybody has to invest twice but the subsidies, larry, when i was and energy regulator wind companies used to pay utilities to take the wind from them because they only got the subsidy if they produced something. can you imagine upside down. i'm all for that. larry: got to get out. >> if we do anything, make it fuel neutral. larry: senator cramer, fierce some. senator cramer, you kicked some butt. good to see you. we'll take a quick break on the other side. big question, will iran retaliate against israel? israel knocking off all the cueds commanders. cueds commanders. we'll ask former ambassador david friedman. i'm kudlow. stick around ♪

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larry: one of the big questions now in the middle east is will iran retaliate against israel, israel for killing some of the quds terrorists commanders ever iran, god bless israel for that. joining us david friedman, former ambassador to israel. david, number one, what do you hear about iranian retaliation, and number two, today in the white house press room basically

the press secretary says with respect to an iranian attack on israel, that the, the u.s. is saying it is not our fight, it is not our fight. it is like they're a neutral party here which blows my mind. anyway, what can you tell us? >> well, look, larry, good to be with you. i think that, i think, and i hope i'm right, i think the response will be underwhelming. i think will be symbolic. there will be a response but i think it will be symbolic. you and i were in government when the president eliminated quassem soleimani. we've seen this movie before. in that case there was a response, as i said it was underwhelming. look, i don't think iran want as fight with israel. i think iran is, has got the best of both worlds right now. on the one hand they're acting through the houthis, acting through iraqi hezbollah, they're acting through hamas, and

incoming is coming against those entities not them. they have a good relationship with america. america has given them $26 billion worth of cash sanctions relief in the last six months. why would they want to blow that, right? iran has it pretty good. they're hitting israel this they're not getting hit back. they have lots of money. they're selling oil to russia, that creates other problems for the united states. i think they're entirely rational players and i don't think they will not mess this up. is it america's fight? of course it is. america empowered iran in the first place. because they're not enforcing the sanctions on the book that are required to be enforced, the fact they're not enforcing sanctions and iran is such a wealthy nation now compared to what it was when you and i left office back in 2020, when they were broke, of course that is america's problem. they caused this problem. i mean and unfortunately, to walk away from it -- larry: right. you can't walk away from your

best ally, if in fact the bidens still think israel is our best ally. it is not as though iran, not as though the united states is neutral or should be neutral with respect to iranian terrorism, whether it is hamas, hezbollah, as you said the houthis. that just blew my mind. it is not our fight. of course it should be our fight and that you know, all this, all the bidens do it seems to me is attack israel now. they're betraying israel. they're betraying the hostages in all these deals. we should be talking much more about a full return of american and israeli hostages. i'm running out of time. i have got 30 seconds, david friedman. tell me what you think. >> well, look i think again american competence and ineptitude from afghanistan to iran and elsewhere has made us less of a player. we should be doubling down to help israel. we're doing just the opposite. larry: yeah, that's it. david friedman, it is good to

see you, and better days are coming. the cavalry is coming that's what i hope. david friedman, former ambassador to israel. folks i will be right back with my last word hello, ghostbusters. it's doug. we help people customize and save hundreds on car insurance with liberty mutual. we got a bit of a situation. [ metal groans] sure, i can hold. ♪ liberty liberty liberty liberty ♪ in theaters now. [city noise] investment opportunities are everywhere you turn.

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the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo larry: evs are lemons. biden should stop spending a trillion dollars on these lemons which raises inflation and reduces worker wages. get rid of it. and david asman in for liz