MONUMENT IS USE UNFOLD OFFICER
MEMORIALS THROUGHOUT THE
COUNTRY.
>> THANK YOU.
LET'S BRING IN LARRY KUDLOW OF
THE NATIONAL ECONOMIC COUNCIL
WHO JOINS US RIGHT NOW.
LARRY, YOU ARE ALWAYS AN UPBEAT
CONFIDENT GUY AND SO THE
AMERICAN PUBLIC, 53% OF THE
AMERICAN PUBLIC FEELS CONFIDENT
ABOUT THE ECONOMY.
WHY DO YOU THINK THAT IS CUTE
YOU
>> THAT IS A GREAT NEW NUMBER.
THE ECONOMY IS IN A STRONG
PROSPERITY CYCLE.
YOU HAD IN THE LAST WEEK OR SO
HUGE JOB NUMBERS, TREMENDOUS
BOOMING CONSUMER SPENDING.
LOOKS LIKE A BIG NEW PICKUP IN
MANUFACTURING, PEOPLE HAVE MORE
MONEY IN THEIR POCKET, TAKE-HOME
PAY IS GOING UP, TAX CUTS, I
THINK THEY ARE HAPPY CAMPERS.
PEOPLE HAVE A VERY OPTIMISTIC
VIEW AND I THINK THE POLICIES
ARE WORKING, WE ARE PROUD OF
THAT SO I EXPECT MORE OF THE
SAME TO BE HONEST WITH YOU.
>> GREAT NEWS FOR OUR COUNTRY.
YOU ARE THE PRESIDENT, YOU MET
WITH THE CEO OF MAJOR TELECOM
COMPANIES, TELL US ABOUT THAT
MEETING.
>> INTERESTING MEETING, TOP
TELECOM PEOPLE, SEMI CONDUCTOR
MAKERS, A COUPLE QUICK THINGS.
THEY WERE SUPPORTIVE OF THE
PRESIDENT'S PROGRAM FOR
RESTRICTIONS OF HUAWEI, THE
CHINESE TELEPHONE MAKER WHICH IS
A SECURITY ISSUE.
HUAWEI HAS STRONG TIES TO
CHINESE GOVERNMENT, AND CURBED A
LOT OF THESE TRANSACTIONS THIS
AND THOSE GUYS YESTERDAY WERE
VERY POSITIVE AND SUPPORTIVE,
THEIR ONLY REAL ASK WAS AS WE
OPENED UP THE NON-NATIONAL
SECURITY ASPECTS OF SELLING
EQUIPMENT TO HUAWEI THAT WE CAN
SPEEDED UP A LITTLE BIT, THE
COMMERCE DEPARTMENT WILL PROCESS
APPLICATIONS TO SPEED THINGS UP.
ANOTHER THING THAT STRUCK ME,
THEY LIKE WHAT THEY ARE DOING ON
5G AND WANT TO HELP US WITH
RESPECT TO GETTING 5G OUT ACROSS
THE COUNTRY INCLUDING THE RURAL
AREAS AND ANOTHER THING THAT
SURPRISED ME, THERE'S A LOT OF
COMPETITION IN BUSINESS, I
BELIEVE THE PRESIDENT ASKED HOW
THE TELECOMS ARE DOING, BUYING
THE SPECTRUM BAND AND THE BUILD
OUT, PRINCIPALLY AT&T AND
VERIZON AND OTHERS, THEY WANT TO
HELP US GET BY 5G OUT, THEY ARE
GOING TO COOPERATE WITH THE
HUAWEI RESTRICTIONS BUT THEY ARE
ASKING IT IN PLACES WHERE THEY
CAN SELL NOW NATIONAL SECURITY
IMPLICATIONS TO GET THE
LICENSING.
IT WAS A TERRIFIC MEETING.
>> THE NEWS OUT OF WASHINGTON,
THE BIG NEWS OUT OF CONGRESS,
THE PRESIDENT AND DEMOCRATS
REACHED A 2-YEAR BUDGET DEAL
THAT RAISES THE DEBT CEILING.
IT GETS THE WHOLE DEBT CRISIS
THING PAST THE ELECTION WHICH IS
WHAT EVERYBODY APPARENTLY WANTED
AND IT CONTINUES TO BE A
EXPENDABLE LOSER DOWN THERE.
WHATEVER THE BIG MEMBERS NOW, IT
IS $320 BILLION OVER THAT, WHAT
HAPPENED?
>> WHAT IS THAT WORD CUTE YOU
WITH THAT IN THE COLLEGE IS 80s?
I GOT IT I THINK.
ALMOST AS GOOD, WE HAVE TO
COMPARE.
WE NEVER GET THE SPENDING
RESTRAINT WE WOULD LIKE TO GET
BUT I MUST SAY IN A DIFFICULT
ATMOSPHERE TODAY, ONE OF THE
THINGS STEVE MNUCHIN, WE GOT A
2-YEAR EXTENSION ON THE DEBT
LIMIT, NO THREAT TO OUR CREDIT
STANDING AND IN TERMS OF THE
OVERALL BUDGET NUMBERS THEY ARE
REALLY MANAGEABLE.
IN THE MARKETPLACE A 10 YEAR
TREASURY BOND IS TO PRESENT MORE
OR LESS.
THAT IS NOT A PANIC NUMBER.
>> WOULD YOU LIKE THE NUMBER TO
GO THE OTHER WAY?
>> I THINK IT IS GOING THE OTHER
WAY SO IT IS RUNNING ABOUT --
THE DEFICIT IS RUNNING FOR THE
HALF% OF GDP.
IN THE LAST 10 YEARS OR SO I AM
JUST SAYING THAT THING HAS GONE
10% OF GDP.
AS THE ECONOMY WORKS ITS WAY
BACK, AS WE REBUILD THE ECONOMY
AND GET GROWTH, I THINK YOU WILL
SEE A SHRINKAGE IN THE BUDGET
GAP.
WE NEED TO RESTRAIN SPENDING
MORE BUT THE NUMBERS WEREN'T
THERE.
SO STEVE MNUCHIN AND NANCY
PELOSI AND OTHERS WORKED
TOGETHER.
POLITICAL, THE ART OF THE
POSSIBLE, WE DID THAT IS GOOD AS
WE CAN DO AND IS NOT GOING TO BE
ANY DEBT DEFAULT.
>> CONGRESSWOMAN RASHIDA TLAIB,
WE HEARD $15 MINIMUM WAGE AND
SHE SAYS $20 AN HOUR.
ONE OF MY BEST FRIENDS OWNS A
RESTAURANT IN FLORIDA AND I SAID
WHAT DO YOU THINK OF THIS?
SHE SAID, QUOTE, THAT WOULD KILL
US.
I DON'T KNOW THAT WE CAN SUPPORT
HAVING TO PAY THAT.
I'M QUITE SURE WE WOULDN'T, THEN
THEY WOULD NOT HAVE ANY JOBS.
>> WE STUDIED BY THE
CONGRESSIONAL BUDGET OFFICE.
WHEN YOU HAVE THESE BIG
INCREASES IN THE NATIONAL
FEDERAL MINIMUM WAGE, SOME JOBS,
SOME WAGES GO UP FOR SOME SET
NUMBER OF MILLIONS OF WORKERS
BUT WE ALSO LOSE MILLIONS OF
JOBS BECAUSE A LOT OF THESE
BUSINESSES CAN'T AFFORD IT.
HERE'S THE KUDLOW REMEDY FOR
MINIMUM WAGE, ARE YOU READY?
YOU NEED TO TAKE NOTES HERE,
THIS IS VERY IMPORTANT.
WE HAVE TREMENDOUS PROSPERITY.
WE ARE GROWING ACROSS THE BOARD,
UNEMPLOYMENT IS DOWN, WAGES ARE
UP AND CONSUMERS ARE BOOMING.
IT IS ACROSS THE BOARD.
EVERY CONCEIVABLE SUBGROUP,
AFRICAN-AMERICANS, ASIANS AND SO
FORTH.
LESS EDUCATED, LESS SKILLED.
>> WAGES GO UP NATURALLY.
>> WE CAN HAVE AN UNLIMITED
MINIMUM WAGE THROUGH
PRIVATE-SECTOR PROSPERITY.
LOOK AT THESE BIG COMPANIES,
WALMART.
I'M GOING TO GIVE YOU -- $15-$20
MINIMUM WAGE BECAUSE OF