INCREASE IN THE REPUBLICAN PLAN.
THAT WILL BE A FIGHT.
WE HAVE A GREAT GUEST.
JOINING US NOW IS LARRY KUDLOW
FORMER DIRECTOR OF THE ECONOMIC
COUNCIL MAKING HIS FOX NEWS
DEBUT TODAY.
GREAT TO HAVE YOU HERE.
THANK YOU FOR JOINING US THIS
MORNING.
I WANT TO START OFF WITH A
QUESTION WHAT’S IT LIKE ON THE
OTHER SIDE OF YOUR TIME AT THE
WHITE HOUSE?
I KNOW IT TAKES A LONG TIME
BELIEVE ME I REMEMBER TO SORT
OF REST AND RECOVER AND FEEL
RESTORED AND READY TO GO.
HOW ARE YOU DOING?
>> WELL, I FEEL RESTORED AND
READY TO GO.
THANK YOU FOR HAVING ME ON THE
SHOW AND THANK YOU FOR HAVING
ME IN THE FOX FAMILY.
IT’S A WONDERFUL OPPORTUNITY.
I LOOK FORWARD TO IT AND VERY
ENERGIZED.
I CAN’T WAIT TO GO.
I COULDN’T THINK OF A BETTER
PAIR TO BEGIN THAN BILL HEMMER
AND DANA PERINO, TWO OLD
FRIENDS OF MINE AND I HOPE WE
GET TO TALK THIS $2 TRILLION
WHICH DOESN’T MAKE MUCH SENSE
TO ME.
I FEEL GREAT AND PLAYED INDOOR
TENNIS YESTERDAY.
WE HAVE TAKEN TIME OFF JUDY AND
I AND WE’RE ALL RIGHT.
>> Bill: WELCOME.
WE’LL HAVE MANY TIMES TO TALK
IN THE FUTURE.
TWO BITS OF SOUND FROM SUNDAY.
FIRST JARED BERNSTEIN WITH
CHRIS WALLACE AND "FOX NEWS
SUNDAY".
>> LOOK, THE AMERICAN PEOPLE
REALLY COULDN’T CARE LESS ABOUT
BUDGET PROCESS WHETHER IT’S
REGULAR ORDER, BIPARTISANSHIP,
WHETHER IT’S FILIBUSTER,
RECONCILIATION.
THEY NEED RELIEF AND THEY NEED
IT NOW.
SO THE URGENCY HERE IS THE COST
OF INACTION.
AND THE PLAN IS SCALED TO
FINALLY MEET THE CHALLENGE.
>> Bill: THERE IS THE MESSAGE
ON FOX.
HERE LARRY IS THE MESSAGE ON
CBS.
A WHITE HOUSE ADVISOR.
>> IF YOU THINK OF ALL THE
FRONT LINE WORKERS THAT ARE OUT
THERE RISKING THEIR LIVES EVERY
DAY.
THEY SHOULDN’T HAVE TO WORK TWO
JOBS JUST TO MAKE A LIVING WAGE.
LOOK, THE OTHER PEOPLE WANT TO
ARGUE PROCESS.
WE WANT TO ARGUE PURPOSE IN
MOVING THIS COUNTRY FORWARD.
>> Bill: THEY WERE ARGUING THE
SAME THING.
AMERICAN PEOPLE CARE ABOUT
PROGRESS AND NOT THE PROCESS.
HOW IS THAT PROCESS GOING TO
GO, DO YOU THINK?
>> WELL, I THINK, YOU KNOW, MY
FRIEND JARED BERNSTEIN, GOOD
MAN.
WE DISAGREE ON SOME THINGS BUT
HE IS A FRIEND.
I DON’T THINK THE ISSUE HERE IS
ABOUT PROCESS OR RECONCILIATION
WHICH NEEDS ONLY 51 VOTES.
REPUBLICANS HAVE USED THAT TOOL
IN THE PAST.
I THINK IT’S ABOUT POLICY,
HOWEVER.
LOOK, LET’S TAKE ONE THING THAT
HAS NOTHING TO DO WITH ANYTHING
AS FAR AS COVID IS CONCERNED
AND THAT’S RAISING THE NATIONAL
MINIMUM WAGE.
YOU KNOW, THAT WILL HURT THE
MOST AFRICAN-AMERICANS,
HISPANICS, OTHER MINORITY
GROUPS.
IT WILL HURT THE POOREST PART
OF THE WORKFORCE BECAUSE ONCE
YOU GET OUTSIDE OF LET’S SAY
NEW YORK AND CALIFORNIA AND
MAYBE ILLINOIS, THE COST OF
LIVING IS MUCH LOWER IN ALL
THESE STATES AND THESE SMALL
BUSINESSES THAT ARE DESPERATELY
TRYING TO REOPEN, THEY CAN’T
AFFORD IT.
AND THEREFORE THEY ARE GOING TO
LAY OFF WORKERS.
I LOVE A MAXIMUM WAGE.
I THINK YOU OUGHT TO GROW THE
CONE ME WITH LOW TAXES AND
REGULATIONS AND SO FORTH AND
THAT WILL GET EVERYBODY A JOB
AND THAT WILL GET THEM UP TO A
MAXIMUM MINIMUM WAGE.
FEDERAL LEGISLATION NEVER
WORKS, IT COSTS JOBS, IT
DAMAGES THOSE WHO NEED THEM THE
MOST AND IT IS A TERRIBLE IDEA.
YOU WANT TO DO IT AT THE STATE
LEVEL, LET THE STATES PARCEL
THROUGH THAT.
I MIGHT NOT LIKE IT BUT
NONETHELESS IT SHOULD AT LEAST
BE STATE LEVEL.
REGION ALI YOU CAN’T DO IT
NATIONWIDE.
ONE OF YOU MADE THE POINT WE
DON’T EVEN KNOW HOW MUCH MONEY
HAS BEEN SPENT OR NOT SPENT
FROM THE PRIOR PACKAGES.
THAT IS THE ODD THING ABOUT
THIS.
THERE IS NO ACCOUNTING.
I HAVE SEEN NO NUMBERS.
I’VE BEEN CHECKING AROUND WITH
ALL MY CONTACTS FROM THE MARCH
CARES BILL THAT WAS REPURPOSED
IN DECEMBER, WE DON’T KNOW HOW
MUCH HAS GONE TO THE PPP SMALL
BUSINESS INITIATIVE AND HOW
MUCH IS OUT THE DOOR ON THE
UNEMPLOYMENT ASSISTANCE OR HOW
MUCH HAS GONE TO THE STATES AND
LOCALALITYS, WE SHOULD BE
ASSESSING THE ECONOMY BEFORE WE
DIVE INTO ANOTHER $2 TRILLION
PACKAGE.
SOMETHING OF A DEMOCRATIC WISH
LIST.
THOSE ARE SOME OF THE BIGGEST
PROBLEMS.
I WANT TO TALK ABOUT THE
ECONOMY.
WE’RE STILL IN A V-SHAPED
RECOVERY.
THE ECONOMY IS VERY STRONG.
I READ ABOUT THE ECONOMIC
CRISIS.
I DON’T BELIEVE IT AND I CAN
PROVE IT IS NOT THERE.
>> Dana: BUT IT IS ACUTE FOR
SOME PEOPLE AND THAT’S ONE OF
THE PROBLEMS THAT THE
REPUBLICANS SEEM TO HAVE WITH
THE ADMINISTRATION’S APPROACH.
AT THE MULT TRILLIONS THEY WANT
TO SPEND IT IS BROAD BRUSH
INSTEAD OF BEING TARGETED TO
INDIVIDUALS THAT THRILL NEED IT.
PEOPLE WHO LOST BUSINESSES,
RESTAURANT OWNERS, THINGS LIKE
THAT.
THE OTHER POINT I WANT TO ASK
YOU ABOUT, CHUCK SCHUMER THE
DEMOCRATIC MAJORITY LEADER IN
THE SENATE HE SAYS THE
REPUBLICANS’ PROPOSAL A NO-GO
FOR HIM.
THERE IS NO STATE AND LOCAL
MONEY IN IT.
THAT WAS A BIG SORE POINT I
KNOW EARLIER ON LAST YEAR.
TELL ME ABOUT THOSE TWO ISSUES.
>> WELL LOOK, AS FAR AS I CAN
TELL, THE WHITE HOUSE PACKAGE OR THE SCHUMER PELOSI PACKAGE
OR THE SCHUMER PELOSI PACKAGE
HAS $365 BILLION TO STATES AND
LOCALALS.
THEY RECEIVED HUNDREDS OF
BILLIONS OF DOLLARS ALREADY.
DO THEY NEED THAT KIND OF MONEY
AND HOW IS THE ACCOUNTING FOR
THE PRIOR ASSISTANCE BEEN MADE?
WHAT’S SPENT AND UNSPENT.
I DON’T THINK THAT NUMBER IS
NEARLY ENOUGH.
STATE REVENUES ACROSS THE
COUNTRY INCLUDING PLACES LIKE
NEW YORK AND CALIFORNIA ARE
ACTUALLY RISING, NOT FALLING.
BECAUSE THE ECONOMY IS MUCH
STRONGER THAN PEOPLE ARE
SUGGESTING.
SO I THINK THAT’S A VERY KEY
POINT.
LOOK, I’M OKAY -- I’M OKAY WITH
STRICTLY TARGETED FUNDING
PARTICULARLY FOR HEALTH,
VACCINATION AND SCHOOL
OPENINGS, OKAY?
I’M OKAY WITH THAT.
I’M NOT OKAY WITH SPENDING
STIMULUS CHECKS, SENDING OUT
AND SPENDING STIMULUS CHECKS ON
ONE PENNY OR TWO-PENNY STOCKS
WHICH IS WHAT HAS BEEN
HAPPENING WITH THIS INCREDIBLE
STORY OF GAMESTOP AND SOME OF
THESE PENNY STOCKS.
THAT’S SO SILLY.
ANY MONEY GIVEN OUT SHOULD BE
STRICTLY TARGETED TO THE LOWEST
END AND I WOULD LIKE TO SEE
WHAT THE PRIOR LEGISLATION
ACCOMPLISHES.
LET’S HAVE AN ACCOUNTING.
LET’S KNOW WHERE THAT MONEY
GOES.
ONE LAST POINT.
HANG ON, BILL.
I HAVE TO MAKE THIS ONE POINT
SORRY TO INTERRUPT.
I UNDERSTAND.
I HEARD A STORY I THINK IT’S
TRUE, CHECK ME OUT ON THIS.
TEACHERS IN NORTHERN VIRGINIA
RECEIVED THE VACCINATIONS.
AND THEY STILL BECAUSE OF THE
TEACHERS UNION REFUSE TO REOPEN
THE SCHOOLS AND GO BACK TO
SCHOOL.
NOW THAT IS NUTTY.
WHAT I’M SAYING IS A LOT OF
THIS SPENDING MONEY IS GOING TO
DEMOCRATIC INTEREST GROUPS, NOT
GOING TO THE GENERAL HEALTH AND
WELFARE OF THE COUNTRY.
IT IS NOT GOING TOWARDS COVID.
VACCINATION MONEY, FINE,
LEGITIMATE SCHOOL OPENING MONEY
FINE.
GIVING OUT STIMULUS CHECKS SO
PEOPLE CAN BUY PENNY STOCKS NOT
FINE, NOT GOOD.
>> Bill: I THINK ROD PORTMAN
SAID $900 BILLION HASN’T BEEN
SPENT YET.
FAIR POINT.
WE DON’T KNOW WHAT IT IS.
KEYSTONE DECISION I KNOW YOU
DON’T LIKE IT AND WONDER WHAT
THE PRACTICAL EFFECT OF THAT
OVER THE NEXT FOUR YEARS PLUS.
CHINA ENGAGEMENT, YOU HAD A
STRATEGY.
WHAT’S THEIRS?
>> WELL LOOK, ON THE KEYSTONE
AND NO DRILLING, NO FRACKING ON
FEDERAL LANDS, NO LEASING AND
DRILLING AND THE PARIS CLIMATE
AGREEMENT WHICH ARE GETTING THE
FIRST POLICIES OF THE NEW
ADMINISTRATION WHICH WILL COME
DOWN VERY HEAVILY ON ENERGY, WE
ARE ENERGY INDEPENDENT THANKS
TO PRESIDENT TRUMP’S ACTIONS.
PIPELINES, INFRASTRUCTURE,
DRILLING, FRACKING, WE’VE
STOPPED IMPORTING FOREIGN OIL.
WE ARE STRONGER AT HOME AND
ABROAD BECAUSE OF IT.
THE BIDEN ADMINISTRATION LOOKS
IN THE EARLY GOING TO WANT TO
ROLL THAT BACK AND WE’LL HAVE
DECIMATING, TERRIBLE IMPACTS ON
THE ECONOMY.
KEYSTONE ITSELF HAS BEEN
ESTIMATED AT 10,000 OR 12,000
JOBS LOST BUT IT WILL BUILD
FROM THERE.
I DON’T THINK WE’RE IN ANY KIND
OF ENVIRONMENTAL OR GLOBAL
WARMING CRISIS.
WE CAN TALK ABOUT THAT SOME
OTHER TIME.
THE DATA DON’T SHOW THAT.
THIS HAS BECOME KIND OF A
RELIGION OR LEFT WING MANTRA.
IT IS NOT THERE.
ON CHINA POLICY, BILL, I SEE
AMBIGUITY HERE.
FIRST OF ALL, SOME OF THE
PEOPLE SPEAKING OUT ON CHINA
HAVE SAID THAT WE WILL CONTINUE
TO BE TOUGH ON CHINA, THAT
PRESIDENT TRUMP’S POLICIES,
FORMER PRESIDENT TRUMP’S
POLICIES WILL NOT BE REPEALED
REGARDING SO-CALLED TOUGH ON
CHINA.
THE PHASE ONE TRADE DEAL IS
MOVING AHEAD.
WE LEFT TARIFFS ON TO POLICE
THAT DEAL.
I DON’T KNOW HOW THAT WILL BE
DISPOSED.
SOME OF THE CABINET APPOINTEES
HAVE BEEN LESS THAN CLEAR ABOUT
KEEPING WITH YOU -- HUAWEI OUT
OF THE UNITED STATES THAT WE
HAVE BANNED ON THE SO-CALLED
EXPORT BAN OR BLACK LIST.
THAT IS IMPORTANT TO KEEP.
SO I’VE HEARD SOME GOOD THINGS
ABOUT CHINA POLICY AND I’VE
HEARD SOME AMBIGUOUS THINGS.
WE DON’T EXACTLY KNOW YET.
WE MUST STAND TALL WITH CHINA.
THEY ARE A COMPETITOR BUT I
THINK INCREASINGLY THEY ARE AN
ENEMY OF THE UNITED STATES
PARTICULARLY REGARDING NATIONAL
SECURITY AND WE MUST PROTECT
THE CROWN JEWELS OF TECHNOLOGY.
THAT WAS THE THRUST OF
PRESIDENT TRUMP’S CHINA POLICY.
THAT IS WHAT LIGHTHIZER AND I
AND MNUCHIN WORKED ON.
AND WILBUR ROSS, THE CROWN
JEWELS OF OUR POLICY MUST
PROTECT NEW TECHNOLOGICAL
ADVANCES, WHICH IS THE HEART OF
THE CREATIVE DESTRUCTION
ECONOMY AND THE HEART OF MAKING
AMERICA THE FASTEST GROWING.
>> Dana: CAN I LAST ONE LAST
QUESTION HERE?
YOU LOVED YOUR TIME AT THE
WHITE HOUSE AND LOVE YOUR LIFE.
YOU LOVE IT.
I WANT TO KNOW WHAT YOU HAVE
FOR BREAKFAST IN THE MORNING
BECAUSE I WANT TO REPLICATE IT.
I WANT TO ASK THIS.
SOMETHING LEFT UNDONE,
SOMETHING YOU DIDN’T HAVE A
CHANCE TO FINISH DURING THE
TRUMP ADMINISTRATION THAT YOU
WISH YOU WOULD HAVE HAD A
CHANCE TO DO?
>> WELL LOOK, YES, OF COURSE ON
POLICY.
BY THE WAY, I THINK WHILE I MAY
DISAGREE WITH PRESIDENT TRUMP’S
BEHAVIOR IN THE LAST COUPLE
MONTHS I THINK IN POLICY TERMS
HE WAS A BRILLIANT PRESIDENT.
WE COULD HAVE GONE FURTHER,
DANA, ON TAX REDUCTION AND
REFORM, PRO-GROWTH TAX
REDUCTION AND REFORM.
OUR TAX CUTS HELPED THOSE WHO
NEEDED IT IS MOST, THE MIDDLE
AND LOWER END.
WE COULD HAVE GONE FURTHER ON
DEREGULATION IN MY JUDGMENT.
WE WENT ACROSS THE BOARD BUT I
STILL THINK THERE WAS
UNFINISHED WORK TO DO.
WE MADE GREAT PROGRESS ON 5G
ALL THE TELEPHONE CONNECTIONS,
ULTRAFAST TELEPHONE CONNECTIONS
WHICH WE SPEARHEADED AT NEC.
WE COULD HAVE GONE FURTHER.
WE MADE GREAT PROGRESS THERE.
I WOULD HAVE LIKED TO HAVE HAD
MORE OPPORTUNITIES.
THERE ARE A NUMBER OF AREAS OF
UNFINISHED WORK.
>> Bill: YOU MENTIONED THE LAST
COUPLE OF MONTHS.
WHEN WAS THE LAST TIME YOU
TALKED TO PRESIDENT TRUMP?
>> I SPOKE TO HIM ON THE
THURSDAY BEFORE THE
INAUGURATION.
WE HAD A LOVELY 20-MINUTE CHAT.
HE WAS VERY GRACIOUS, VERY
KIND, VERY COMPLIMENTARY.
WE TALKED MOSTLY ABOUT OUR
ACHIEVEMENTS AS AN
ADMINISTRATION AND THE POLICY
AREAS THAT I MENTIONED AND THEN
SOME.
HE WAS MUCH CALMER AT THAT
POINT.
>> Bill: DID YOU TALK ABOUT THE
EVENTS OF JANUARY 6, LARRY?
>> NO, WE DID NOT.
WE DID NOT.
I THINK THE PRESIDENT KNEW MY VIEW.
HE PUT OUT SOME VERY GOOD
VIDEOS DENOUNCING VIOLENCE.
I WISH HE HAD DONE THAT TWO
MONTHS EARLIER AND STAYED WITH
THAT.
I ALWAYS FELT THAT WHEN THE
ELECTORAL COLLEGE VOTED MR.
BIDEN AS PRESIDENT-ELECT,
PRESIDENT TRUMP WOULD HAVE BEEN
BETTER ADVISED TO TALK ABOUT
HIS GREAT POLICY ACHIEVEMENTS
IN FOREIGN POLICY, THE MIDDLE
EAST, FOR EXAMPLE, CHINA AND IN
ECONOMIC POLICY.
WE WERE HAVING A GANGBUSTER
RECOVERY.
EVEN NOW WE’RE IN A V-SHAPED
RECOVERY WHILE THE PANDEMIC
CONTINUES TO PLAY OUT.
I WOULD HAVE PREFERRED THAT.
I THINK AT SOME POINT THE
REPUBLICAN PARTY NEEDS TO THINK
ABOUT REALLY SAYING FROM THESE
CRAZY FAR RIGHT GROUPS JUST AS
THESE CRAZY FAR LEFT GROUPS,
BOTH PARTIES OUGHT TO JUST SAY
WE DON’T WANT YOUR TYPE.
WE DO NOT.
I REMEMBER MY DEAR GREAT FRIEND
AND MENTOR THE LATE WILLIAM F.
BUCKLEY.
HE THREW OUT THE JOHN BURCH
SOCIETY IN THE 1950s.
THREW HIM OUT THROUGH HIS
MAGAZINE NATIONAL REVIEW AND
REPUBLICAN PARTY FOLLOWED SUIT
BECAUSE THEY WERE EXTREME,
CRAZED, ANTI-SEMITIC AND SO
FORTH.
NO ROOM IN THE G.O.P.
I WOULD LIKE TO SEE PRESIDENT
TRUMP AND OTHER SPOKES PEOPLE
THROW OUT SOME OF THESE CRAZY
GROUPS AND DEMOCRATS SHOULD
THROW THEM OUT ON THE LEFT WING
AS WELL.
PRESIDENT TRUMP PHENOMENAL
POLICY ACHIEVEMENTS.
HE WILL GO DOWN IN HISTORY FOR
THAT.
AND MY GUESS IS WE HAVE NOT
HEARD THE LAST FROM HIM ON A
NUMBER OF THINGS.
>> Bill: WE HAVE A LOT TO TALK
ABOUT.
THANK YOU FOR THE TIME TODAY
BUT WE’RE OUT OF TIME.
TO BE CONTINUED.
LOOK OUT FOR PERINO.
SHE IS A TOUGH ONE.
WELCOME TO THE FOX FAMILY.
>> Dana: WELCOME, LARRY.