"KUDLOW" IS NOW NEXT.
♪.
LARRY: HELLO, EVERYONE, WELCOME
TO "KUDLOW," I’M LARRY KUDLOW.
I WANT TO BEGIN TONIGHT WITH
SAVE AMERICA KILL THE BILL BUT
IN THIS CASE IT IS NOT BBB.
IT US A DOWNSIZED BIG GOVERNMENT
SOCIALIST BILL CALLED THE
COMPETES ACT.
IT ISN’T FIVE TRILLION BUT IT IS
$350 BILLION COMING OUT OF THE
HOUSE, FOLLOWING 250 BILLION
BILL OUT OF THE SENATE.
IT WILL MOVE TO CONFERENCE.
IT’S A TERRIBLE WASTE OF
TAXPAYER MONEY FOR INDUSTRIAL
POLICIES, CORPORATE SUBSIDIES,
MORE GREEN NEW DEAL SPENDING,
MORE UNIONIZATION, MORE CENTRAL
PLANNING AND CONTROLLING BY THE
FEDERAL GOVERNMENT IN
WASHINGTON, D.C.
THIS BILL HAS NOTHING TO DO WITH
COMPETING WITH CHINA OR ANYBODY
ELSE.
IN FACT THE TRADE PART OF THE
BILL ACTUALLY UNDERMINES THE
TRUMP PHASE ONE CHINA TRADE DEAL
WHICH DID MAKE US MORE
COMPETITIVE.
TAKE A LISTEN TO A BRIEF
EXCHANGE BETWEEN MY PAL HOST,
DAVID ASMAN AND SENATOR TODD
YOUNG OF INDIANA EARLIER TODAY
ON FOX BUSINESS.
>> I WOULD SAY KILL THE BILL AS
LARRY KUDLOW WOULD.
I DON’T THINK IS ANY WAY YOU CAN
GET THE PORK OUT OF THIS ONE.
SENATOR, WE GOT TO LEAVE IT
THERE.
>> LISTEN, XI XINPING IS
LOBBYING AGAINST THE LEGISLATION
SO YOU AND HE SEEM TO SEE
EYE-TO-EYE ON THIS.
>> WHOA, EXCUSE ME, SENATOR, NO.
I JUST DON’T LIKE CORPORATE
WELFARE.
LARRY: YES, DAVID ASMAN IS 100%
RIGHT.
TODD YOUNG LASHING OUT AT DAVE
ASMAN, HE AND XI ARE ALLIED
AGAINST THE BILL.
IT’S A CHEAP SHOT BY A SENATOR A
FORMER NAVAL OFFICER AND WHO
OUGHT TO NO KNOW BETTER.
THIS IS MORE BE LIKE CHINA BILL.
HE IS NOT OPPOSING CHINA.
HE IS EMULATING CHINA AND
SOCIALIST CENTRAL PLANNING
STATE-RUN ECONOMY.
MR. YOUNG SPENT TIME IN BUSINESS
BUT HE MUST NOT HAVE LEARNED
VERY MUCH.
BY THE WAY 17 OTHER REPUBLICANS
ARE IN EXACTLY THE SAME BOAT.
HERE’S A QUICK STORY.
PRESIDENT BIDEN WAS IN THE
WHITE HOUSE TODAY PROMOTING A
NEW INTEL PLAN OUTSIDE OF
COLUMBUS, OHIO.
AND THEN BIDEN SAID, WELL, IF WE
PASS THIS COMPETE ACT WE’LL HAVE
MUCH MORE LIKE THIS BUT, BUT,
BUT, INTEL INVESTED $20 BILLION
OF ITS OWN MONEY TO BUILD A
PLANT AND CREATE HIGH-PAYING
JOBS AND GOOD FOR THEM.
ONCE MORE THEY SAY THEY WILL
PARK UP TO $100 BILLION TOTAL
OVER THE COMING YEARS TO
COMPLETE THE PROJECT.
GOOD.
GOOD FOR INTEL.
BUT HERE’S MY POINT, IT WAS
INTEL’S PRIVATE INVESTMENT, NOT
GOVERNMENT SUBSIDIES.
THERE MAY HAVE BEEN SOME STATE
AND LOCAL HELP BUT THAT’S
DIFFERENT THAN A
50 BILLION-DOLLAR FEDERAL
SUBSIDY OR A 350 BILLION-DOLLAR
FEDERAL SPENDING BILL.
DR. CALVIN MEYER, MY PAL, FORMER
DIRECTOR OF THE WHITE HOUSE
SCIENCE AND TECHNOLOGY POLICY,
AND FORMER HEAD OF THE NATIONAL
SCIENCE FOUNDATION, KELVIN TELLS
ME THAT THE AMERICAN PRIVATE
SECTOR HAS INVESTED $200 BILLION
IN THE SEMICONDUCTOR SPACE AND
IT IS NOT OVER YET.
SO WE DON’T NEED 50 BILLION FROM
UNCLE SAM, LORD KNOWS, HOW MANY
WOKE AND RACIAL STRINGS
ATTACHED.
NOR DO WE $45 BILLION FOR
ANOTHER ENERGY DEPARTMENT SLUSH
FUND.
NOR DO WE NEED ANOTHER
$78 BILLION FOR THE NATIONAL
SCIENCE FOUNDATION WHICH HAS AN
8 BILLION-DOLLAR BUDGET
PRESENTLY AND COULDN’T POSSIBLY
PROCESS SOMETHING 10 TIMES THAT
AMOUNT.
NOR DO WE NEED ANOTHER
45 BILLION FOR THE COMMERCE
DEPARTMENT TO FINANCE SOMETHING
CALLED CRITICAL GOODS.
WHATEVER THAT MEANS.
NOR DO WE NEED ANOTHER
$3 BILLION FOR SOLAR
MANUFACTURING.
DOES ANYONE REMEMBER SOLYNDRA?
NOR DO WE NEED $8 BILLION GOING
TO THE U.N. GREEN CLIMATE FUND.
U.N. GREEN CLIMATE FUND, SENATOR
YOUNG, CONGRATULATIONS.
IF YOU CAN TELL ME, MR. YOUNG
HOW ANY OF THESE MASSIVE FEDERAL
SUBSIDIES CONTROLLED BY
GOVERNMENT BUREAUCRATS MADE UP
MOSTLY OF FORMER EGG HEAD
PROFESSORS WHO NEVER WORKED A
DAY IN THEIR LIFE IN THE PRIVATE
SECTOR MR. YOUNG CAN TELL ME OR
MY PAL DAVID ASMAN WHAT THIS
STUFF HAS TO DO WITH
COMPETITION, WELL I WELCOME HIM
TO COME ON THIS SHOW AND EXPLAIN
IT TO ME AND OUR VIEWERS.
BY THE WAY, THERE IS A LITTLE
MORE, SPEAKING OF INTEL AND
PRIVATE INVESTMENT, INTEL IS
BUILDING TWO FACTORIES IN
ARIZONA FOR $20 BILLION, THEIR
MONEY.
TAIWAN SEMICONDUCTOR IS BUILDING
IN ARIZONA FOR $12 BILLION.
CHIPMAKER SAMSUNG BUILDING IN
TEXAS FOR $17 BILLION.
NOW THEY MAY HAVE SOME STATE AND
LOCAL HELP, OKAY BUT IT IS
BASICALLY ALMOST ALL PRIVATE
MONEY, PRIVATE INVESTMENT MONEY,
NO FEDERAL SUBSIDY WITH VARIOUS
REGULATORY STRINGS ATTACHED.
BECAUSE YOU KNOW WHAT?
IN OUR SYSTEM IF IT PAYS TO
INVEST THEN CAPITAL WILL SHIFT
TO TAKE ADVANTAGE OF HIGH MARKET
RETURNS.
THAT’S CALLED FREE ENTERPRISE
CAPITALISM, SENATOR YOUNG.
NOW, LET’S THINK ABOUT
INCREASING MARKET RETURNS.
WELL, INSTEAD OF 350 BILLION IN
FEDERAL SPENDING BY THE WAY NOT
PAID FOR BY TAX HIKES OR OTHER
SPENDING CUTS, ADON’T WANT TO
PAY FOR ANY OF IT ANY WAY BUT WE
COULD MAKE THE TRUMP TAX CUTS
PERMANENT BECAUSE THEY WOULD
START TO EXPIRE NEXT COUPLE
YEARS THAT INCREASES THE RATE OF
RETURN.
THOSE TAX CUTS MADE AMERICA
SUPER COMPETITIVE, THEY’RE A
GREAT SUCCESS FOR WORKING
FAMILIES AND MINORITY GROUPS, WE
COULD STOP THE BIDEN REGULATORY
AND TAX ASSAULT ON AMERICAN
BUSINESS, THAT WOULD MAKE US
MORE COMPETITIVE, WOULDN’T IT?
WE WOULD THINK OF AMERICA FIRST
AS THE MOST HOSPITABLE
INVESTMENT ENVIRONMENT IN THE
WORLD.
THAT WOULD ALLOW US TO WIN THE
GLOBAL RACE FOR CAPITAL AND
PRODUCTION.
JUST A THOUGHT.
BUT 350 BILLION SO WE CAN BE
CENTRAL PLANNERS AND STATE-RUN
ECONOMY CONTROLLERS JUST LIKE
CHINA?
THAT’S NOT THE ANSWER, SENATOR
YOUNG.
NOW AS ALWAYS, SIR, IN THE
SPIRIT OF CIVILITY, RESPECT,
OPEN DIALOGUE, NOT TO MENTION
FIRST AMENDMENT FREEDOM OF
SPEECH YOU ARE INVITED ON THIS
SHOW ANYTIME, SENATOR, TO
DISCUSS YOUR BILL BUT I’M
TELLING YOU, I AIM TO KILL THE