MARIA: WELCOME BACK.
U.S. JOB GROWTH EXCEEDING EXPECT
TAKES IN OCTOBER, THE LABOR
DEPARTMENT ANNOUNCING FRIDAY
THAT 250,000 JOBS WERE ADDED TO
THE ECONOMY IN OCTOBER, WHILE
THE UNEMPLOYMENT RATE HELD
STEADY AT 3.7% WHICH IS A 49-
YEAR LOW.
THESE NUMBERS GIVING PRESIDENT
TRUMP SOMETHING TO BRAG ABOUT
HEADING INTO THIS TUESDAY BUT
WILL THE GOOD TIMES CONTINUE FOR
THE ECONOMY AND YOUR 401 (K)?
LARRY KUDLOW IS WITH ME THE
DIRECTOR OF THE NATIONAL
ECONOMIC COUNCIL AND ASSISTANT
TO THE PRESIDENT FOR ECONOMIC
POLICY JOINING ME NOW IN AN
EXCLUSIVE INTERVIEW.
LARRY ALWAYS A PLEASURE TO SEE
YOU THANK YOU SO MUCH FOR BEING
HERE.
>> THANKS, MARIA APPRECIATE IT.
MARIA: VERY GOOD NUMBERS, WAGES
UP 3.1% BUT OF COURSE THE
MARKETS HAVE BEEN VERY VOLATILE
AND NERVOUS THAT THE GOOD TIMES
ARE NOT SUSTAINABLE, THAT A SLOW
DOWN IS ON THE HORIZON ARE
YOU WORRIED ABOUT A SLOWDOWN ON
THE HORIZON?
>> I'M NOT WORRIED.
I MEAN, I HEAR ALL OF THIS STUFF
ABOUT A SUGAR HIGH AND TEMPORARY
AND NOT SUSTAINABLE.
I MEAN, FOR ONE THING THAT'S
250,000 UNEMPLOYMENT WHICH WAS,
YOU KNOW, A BLOCKBUSTER.
I REMEMBER I TOLD THE PRESIDENT
ABOUT IT THURSDAY EVENING.
I SAID WOW, WOW, AND KEVIN
HASTERT AND I WERE REALLY
SURPRISED LOOK YOU GOT 3.1% RISE
IN WAGES, YOU GOT 250,000, WE'RE
RUNNING SOLIDLY, YOU KNOW THE
BIGGEST BENEFICIARIES ARE MARIA?
BLUE COLLAR WORKERS TAKE A LOOK
AT THE NUMBERS.
THE EMPLOYMENT INCREASE IS
LARGELY CENTERED ON BLUE COLLAR
WORKERS THEY'RE THE BIG WINNERS,
FASTEST SINCE THE 80S AND THEY
ARE THE ONES EXPERIENCING THE
LARGEST WAGE GAINS, BLUE COLLAR
WORKERS HAVE BEATEN WHITE COLLAR
WORKERS.
MARIA: RIGHT.
>> NOTHING AGAINST WHITE COLLAR
WORKERS I'M JUST SAYING THIS IS
REACHING DOWN DEEP INTO THE BLUE
COLLAR AREA PRECISELY WHAT WE
WANTED, WITH OUR SUPPLY SIDE TAX
CUTS ACROSS-THE-BOARD AND THE RE
REGULATION OF THE PRESIDENTS
PROGRAM, INCLUDING ENERGY.
MARIA: YOU JUST HEARD DEMOCRATIC
CONGRESSMAN TIM RYAN FROM OHIO
ON THIS PROGRAM RIGHT AND HE
SAID 83% OF THE TAX CUT PLAN
WENT TO THE TOP 1%.
WHAT'S YOUR ANSWER TO THAT?
I PUSHED BACK A LITTLE BIT.
I DON'T KNOW WHERE MR. RYAN GETS
THAT NUMBER.
I HAVE RESPECT FOR HIM, HE IS
RATHER MORE MODERATE DEMOCRAT
BUT THOSE KINDS OF KNIT PICKING
AND ANKLE BITING I DON'T KNOW
WHERE THAT THING COMES FROM
WHEN WE PUT THIS PROGRAM IN
PLACE, WHEN PRESIDENT TRUMP RAN
ON THIS IN 2016, KEVIN HASTERT
AND I AND LAUGHER AND SO FOURTH
WORKED ON IT, WE BELIEVE THAT
THE TAX CUTS FOR CORPORATIONS,
LARGE AND SMALL, THE MARGINAL
TAX RATE REDUCTIONS, NOW DOWN 21
% FOR COMPANIES, LARGE
COMPANIES, THAT'S 19% FOR SMALL
COMPANIES.
THE BIGGEST BENEFICIARY WOULD BE
ORDINARY WORKING FOLKS.
THE BLUE COLLAR AND THAT IS
PRECISELY WHAT THE DATA IS
SHOWING.
MARIA: LARRY LET ME ASK YOU THIS
>> I DON'T KNOW WHERE THEY'RE
GETTING THIS.
MARIA: CONGRESSMAN KEVIN BRADY
THE CLIP OF HOUSE WAYS AND MEANS
JOINED ME LAST WEEK AND HE'S
WORKING ON AN ADDITIONAL TAX CUT
THAT THE PRESIDENT WANTS TO CUT
TAXES BY THE MIDDLE CLASS BY 10%
AND IF THE ECONOMY IS GOING SO
GREAT WHY DO YOU HAVE TO CUT
TAXES AGAIN?
>> WELL LOOK, I THINK THE
PERMANENT FOR THE PERSONAL TAXES
, WHICH WOULD INCLUDE SMALL
BUSINESS, VERY IMPORTANT AND I
THINK KEVIN BRADY IS EXACTLY
RIGHT.
WE ARE NOODLING ABOUT AN
ADDITIONAL 10% MIDDLE CLASS TAX
CUT, JUST NOODLING, LOOKING AT
DIFFERENT PLANS.
MARIA: OKAY.
WE WILL SEE BUT LOOK, THE GREAT
STORY OF 2018, YOU SAID IT I
THINK IN THE BREAK.
MARIA: RIGHT.
>> THE ECONOMY IS STUPID.
WE ARE GROWING, YOU KNOW, 3.5%
IN Q3, 4.2% IN Q2, 3% OVERALL,
AND MY FRIENDS ON THE OTHER SIDE
OF THE AISLE SAID YOU COULDN'T
BEAT 2.
WE'RE NOW BEATING 3.
MARIA: ABSOLUTELY.
THIS IS THE BIGGEST SINGLE STORY
OF 2018.
MARIA: ANOTHER BIG STORY IS HOW
CHINA HAS BEEN BEHAVING, THEY'VE
BEEN STEALING FROM US FOR DECADE
S AND NOW THERE'S A REPORT
, LARRY, THAT SAYS THAT
IT'S A REPORT THAT SAYS THAT NOW
CHINA IS CONSIDERING BUYING OIL
FROM THE UNITED STATES VERSUS
IRAN AS PART OF A LARGER TRADE
DEAL WITH THE UNITED STATES THAT
THE PRESIDENT WILL DISCUSS AT
THE G20 WITH PRESIDENT XI.
HAS THIS BEEN DISCUSSED CHINA
BUYING OIL FROM THE U.S.?
>> WELL I CAN'T SPEAK ON THE
SPECIFICS QUITE YET, OKAY?
CAN'T GO THERE, BUT LOOK, ON THE
CHINA DEAL, I THINK THERE'S BEEN
SOME MISUNDERSTANDING HERE.
FIRST OF ALL, PRESIDENT TRUMP
AND PRESIDENT XI HAD A POSITIVE
PHONE CALL THAT'S A GOOD THING
OKAY?
SECOND OF ALL, IT IS NOW CERTAIN
THAT THE TWO PRESIDENTS WILL
DISCUSS TRADE AT THE G20 MEETING
IN ARGENTINA THAT'S A GOOD
POSITIVE OPTIMISTIC THING.
NOW I SPOKE TO PRESIDENT TRUMP
YESTERDAY.
WE HAD A LONG TALK ABOUT THE
CHINA POSITION.
HE BELIEVES THAT CHINA'S
WEAKENING ECONOMY, BY THE WAY
THEIR PMI IS DOWN TO 50 SO THAT
SHOWS THEY'RE ON THE CUSP OF A
RECESSION BUT ANYWAY, PRESIDENT
TRUMP BELIEVES CHINA WOULD LIKE
A TRADE DEAL AND PRESIDENT TRUMP
IS THE FIRST PRESIDENT IN DECADE
S TO PUSH THIS ISSUE.
WE'RE NOT GOING TO LET THEM GET
AWAY WITH UNFAIR AND ILLEGAL
TRADING PRACTICES.
NOW, HAVING SAID THAT, PRESIDENT
TRUMP TOLD ME HE WOULD MAKE A
DEAL WITH CHINA, BUT IT HAS TO
BE A DEAL THAT IS STRONG AND IN
AMERICA'S INTEREST.
THAT'S HIS KEY POINT.
WE WILL WORK IT OUT.
WE HAVE ASKED THEM, MARIA, ABOUT
TECHNOLOGY, TRANSFER, STEALING
ABOUT INTELLECTUAL PROPERTY
RIGHT STEALING, ABOUT OWNERSHIP
PROBLEMS, ABOUT HIGH TARIFFS ON
ARCHITECTURE AND INDUSTRIAL
GOODS.
THEY CANNOT STEAL OUR TECHNOLOGY
THAT DOESN'T WORK FOR US.
NOW, IF WE, IF THEY RESPOND TO
OUR ASKS, THEN THE PRESIDENT
WILL CONSIDER MAKING A DEAL AS
LONG AS IT'S IN AMERICA'S
INTEREST.
HE WAS VERY CLEAR IN MY TALK
WITH HIM YESTERDAY.
ITS GOT TO BE IN AMERICA'S
INTEREST.
MARIA: DID THE SUBJECT OF OIL
COME UP CHINA BUYING U.S. OIL,
REAL QUICK, LARRY.
>> NO.
MARIA: OKAY.
>> NO IT DID NOT.
THAT MAY BE DOWN THE ROAD BUT MY
POINT IS THIS.
WE MAY GET SOME PROGRESS IN
ARGENTINA THAT'S GOOD.
LET'S BE OPTIMISTIC ABOUT THAT
BUT LET'S NOT GO OVERBOARD.
ANY DEAL WHICH WILL TAKE A WHILE
TO PUT TOGETHER, YOU KNOW THIS,
THE DETAILS OF NEGOTIATION, MUST
BE IN AMERICA'S INTEREST AND WE
HAVE NOT HEARD FROM CHINA WITH
RESPECT TO OUR ASK.
WE HAVE NOT YET HEARD THEIR
POSITION, SO WE GOT TO WAIT ON
THIS.
LET'S HOPE WE GET SOME PROGRESS
IN ARGENTINA BUT THIS HAS TO BE
IN AMERICA'S INTEREST.
MARIA: OF COURSE.
>> PRESIDENT TRUMP IS THE FIRST
GUY TO STRESS THIS IN 20 YEARS
AND HE'S NOT GOING TO RELENT.