we're probably about 85, 990% chance there, and we tend to think that they are biased towards wanting to cut. and so we think if they've got the data readouts that sort of allow them to cut, they will go for it. they will a try to get one off before the election and then perhaps again in december. november's a big -- bit fraught, obviously, timing wise. ashley: yes, it is. andrew krei, thank you so much for joining us today. really appreciate it. a historic day on wall street. the dow crossing 40,000 for the first time ever but down now, down just 26 points, under 40,000 but nevertheless, till worth the ticker tape parade. any gains, by the way, for the dow, s&p and nasdaq would be a record close but, you know what? a little bit of selling at the end put that to rest. that will do it for the countdown here. ♪ larry: hello, folks. welcome to "kudlow."

i'm larry kudlow. so the panic sets in. democratic anxiety over trump's 100,000-person rally in wildwood, new jersey, and bad polling for joe biden that's sky high. we'll ask senator eric. >> schmidt about it, but first our own intrepid edward lawrence live at the white house on mr. biden's problems on the economy. what you got, edward? >> reporter: yeah, exactly. in the latest fox news polling, larry re, it shows that the president has a long way to go to try and convince americans he's in charge of the greatest economy in history. in fact, two-thirds of registered voters are saying that the economy is getting worse for their families, 30% say it's getting better with 6% believing it's staying the same. now, increased prices since president biden came into office play a huge part of that. in fact, 62% say grocery prices are a major problem. about half say gas prices are a major problem, and 47 say housing costs are that problem,

a triple whammy for families who hear president biden misrepresent inflation. two times over the past two weeks the president's said inflation was 9% when he came into office. is the president misleading americans on that, or does he just not realize that inflation was 1.4% when -- >> you know, and thank you for the question. look, what the president, the point that he was making is that the factors that cause inflation was in place when he walked in, into the administration. when he took office. >> reporter: and today neil cavuto pushed back even more. listen to this. neil: stop it with the 999% -- 9%, because the more you say that, the more people don't believe what you're saying. >> look, i think what the american people care most about a -- neil: it's true! the american people care about truth, jared. >> neil, this only works if you let me talk -- neil: you haven't answered my question, and if i've asked it five times, five ways. >> the president was making the

point that the factors that caused inflation were in place when he took office, and that's unequivocally true. neil: all right. >> reporter: so the white house is blaming covid for having spiking inflation, not the president's policies. larry in. larry: you know, edward uh-uh -- i just do not understand. there were no factors, okay? the covid spending went -- they increased the spending in march of 2021, and the economy went to 9 inflation. hook, i've known jared bernstein for regular, he was a regular -- forever, he was a regular on my old show and if so forth and so on, but the fact remains, this is all b.s., everybody knows this. all right, enough. it's not your fault. i'm sorry. edward lawrence, you're a good man, and i'm sure you want to get home. [laughter] anyway, time now for the riff. let me circle back to president trump's rally on the beach in wildwood, new jersey, last saturday. i believe this was the an historic event. now, just doing some homework, the only political rally larger

than trump in wildwood was franklin roosevelt in seagurt, new jersey, if in 19332 where 120,000 people turned out. that was 932 years ago -- 92 years ago. i wasn't even born then. and it was the handwriting on the wall for a massive victory for finishing dr. fdr are. so mr. trump scored an historic second. it is a huge deal that changes the dynamics of the entire presidential race. and the is the wildwood rally the handwriting on the wall for donald trump? well, michael goodwin writes in "the new york post" that the 2024 race is now donald trump's to lose. even "the wall street journal" editorial page, no fan of mr. trump's, they write: joe biden goes from the basement to denial. polls show him behind trump, and he won't come back unless he admits the problem. mr. trump is polling well ahead in nevada, arizona and georgia.

the great lakes states are up for grabs. mike if goodwin points to the leftist brooking institution analysis that shows biden is hemorrhaging support among black, hispanic and asian voters including among college-educated members of those groups. and goodwin points to key issue factors that we've been talking about here for many, many months. mr. trump has huge polling leads on the economy and inflation, on biden's open border catastrophe and on the chaos at home with the anti-semitic demonstrations and also the war withs in ukraine and israel, gaza. the world has turned chaotic, upside down under biden. but back to wildwood, new jersey. the 100,000 turnout for mr. trump freaked out joe biden and the democratic party. now, radio broadcaster mark simone pointed out that after witnessing the wildwood shock, biden suddenly comes out with a phony tough guy video that was

edited 5 times in 13 seconds, that he would debate trump twice in june and october. there's a link between the wide -- wildwood shock on saturday and bind suddenly accepting debates, what, on tuesday or wednesday. both mark simone and steve forbes believe that if biden flunks the june 27th debate, even with all his wimpey guardrail conditions that it has to be cnn, no audience, etc., etc., that if he flunks, then the democratic kingpins will replace him at the democratic national convention on august 19th in chicago. so wildwood's shock has completely rattled biden and the democratic big wigs. wildwood has changed the game. trump now has biden on the run. and that's the riff. all right. great pleasure, joining us now is missouri senator eric schmitt.

mr. schmitt, thank you, as always. maybe you heard pa part of that a riff. i just want to get your take. i think wildwood was a historic event only beaten by fdr almost a hundred years ago, and i think it shows enormous strength from trump. and the polling corroborates that. and and i think the democrats are on the run, they're scared and they're freaked out. now, you've been around for quite some time, sir. what do you think about this story? >> well, first of all, larry, it's worth pointing out i think you're right. nobody, nobody in modern political history draws the crowds at these rallies like president trump does. and i think the it represents pent-up demand even in a place like new jersey, right? the frustration that people see with the biden agenda. and as they compare it now to what they experienced, more prosperity and, you know, a closed border, energy dominance under president trump. so all that stuff's coming in full view, and i think there's a danger sometimes with polling in that it gives you sort of a snapshot in time. what you really want to look for is the are trajectory. and the trajectory for president

trump continues to climb. and that's a very good thing for the country. and including in those battleground states where it's going to matter the most. i think the good news here is trump has, president trump has, you know, sort of supercharged this multi-ethnic working class party, the republican party is right now, and it's growing. you see those, that base growing, and people are excited about it, and they're just -- they've made their mind up about joe biden. he's been a disaster. larry: you know, senator, talk about the polling, i'm just going to bet that trump's numbers are are always underreported in these polls. a lot of of people do not want to say they're going to be for trump, you know, for various reasons. it's not cool to be -- actually, it's getting to be very cool to be for trump. 1000,000 people went to the beach for it. but i'm just saying, you know, i think he's going to do better in the great lakes states than people think. i really do. i know it's basically a toss-up up there. he's got a slight lead in a couple of them, but it's

underreported. i think that's the history. all a republicans are underreported, right in it's just not cool to be republican and even not cool to be for trump. >> well, i think, honestly, now being conservative, being republican is sort of counterculture, right? if the elites are all these radical democrats, and if you want to rebel against something, they control these institutions that look down on everybody. so i'm kind of proud of that that. not just in those upper midwest states, but you look at the numbers growing whether it's hispanic or black voters in the sun belt states, right? in nevada, in arizona. the polling that i think that is most positive for president trump, i think, is that lead grows in those states which are up for grabs in november too. it's not just michigan, it's not just wisconsin, it's not just pennsylvania. it's in those sun belt states where with he's not just competing, but his lead is growing. larry: yeah. he's got double digits in nevada. you've got double digits in georgia. that's e really very interesting to me. senator schmidt, you tried to stop this crazy covid spending.

this is state and local spending, it's funny, you tried to stop it on the floor. i had been riffing about it earlier this week, or maybe it was last week, i don't know. they're allowing another $350 billion, 350 billion, that's not a small amount, for state and local governments for covid even when the administration itself declared the covid emergency over, and the treasury department says, well, heck, if you have some plans to spend it, you can go ahead after 2024. so you made the valiant fight. you know, some people are sayine covered this last week -- that the bidens have $6 trillion that they could possibly spend, you know, obligated but unspent funds, they're going to try to push it out in the next six months, which they won't be able to do. but they're trying to buy the election, aren't they, senator schmitt? >> well, you saw that that very clearly, larry, with the student loan debt forgiveness scam. >> yes.

>> we brought the lawsuit that saved taxpayers $500 billion, but now he's picking away at it, he's trying to, again, buy votes, to your point. but it's not working. the truth of the matter is for those younger voters that maybe he thinks he's buying off, it's twice as expensive as it was just a couple years ago to buy a home. people are priced out of market because interest rates are chasing inflation, and inflation's representative of this runaway spending like we tried to stop some of it yesterday but the democrats were in lockstep to continue to allow outside of the existing law just because treasury wanted to change a rule to allow them to keep spending on a covid emergency that doesn't exist anymore. literally, it's been over for years. the democrats even declared it over a year ago after most americans had moved on. hay want to spend, they don't know how to turn that spigot off. we're $35 trillion in debt, larry. you know, you talk about this. we're spending a trillion on the interest now, that's more than we we spend on our military. it's unsustainable.

larry: last one, senator schmitt. i don't know what's happening, supposedly, reportedly president biden is coming out with an executive order for the border, which he said he didn't have the power to before, but now he's suddenly discovered the power because he's so far behind in the polls. but he's going to come out and, let's see, 4,000 a week, i think i got that right, 4,000 a week illegal immigrants is okay. we did the arithmetic, i think it comes to 1.4, 1.5 million a year more illegals. no one knows what the gotaways are. that's just an astronomical number. and, by the way,, what's so good about 1.4 million a year? how about 0? you know? >> right. larry: how about putting a time limit to get to 0 to? >> it's a desperate move. he knows that this is the single most porn issue to voters. -- important issue to voters. there's 10 is million people here illegally. president trump had a 45-year

low in illegal immigration when he left office. they undid all of that success with 90-plus executive orders in the first 600 days, larry, and that's what head to this. i'll just give you one statistic, we are paroling about 5,000 people a year with under president trump, they're doing over a million a year, a million a year totally just, you know, obfuscating all of the immigration laws we have on the books right now. they're not serious. they're for open byrd borders. it's a census play, and it's a disaster for the country. march march a million a year, that's incredible. good stat. senator everything schmidt, the best of the best, thank you for coming back on. >> anytime, larry. march all right, folks, coming up the phony cbo report, inflation report, sorry, is a cover-up for the harmful effects of bidenomics. i mean, we're going to slash that to pieces. we'll talk about it with art laffer and budget chair jodi arrington. and remember, kids, you can catch "kudlow "monday through

friday at 4 p.m. right here on fox biz. if you can't get us at four for some reason, just text your favorite 9-year-old, and she will show you how to dvr the show, and you will never miss a wildwood rally. i'm kudlow. we'll be right back.

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so they turned around a bit, but with good news. renewed rate cut hopes and strong earnings from walmart powering the dow. walmart, the world's biggest retailer, announced first quarter earnings that beat on both the top and and bottom line. shares of walmart jumping 7% on the news. the dow closed above 30,000 for the first time on november 24th, 20 2020, three and a half years ago. the move from 30,000, from 30,000 to 40,000 was head by goldman sachs, microsoft, unitedhealthing and caterpillar. very diverse group. in addition to earning, it was lukewarm cpi inflation data released yesterday that stoked the enthusiasm that played out during today's trade aing. today's futures markets pricing in a 68% chance of a first rate cut in seth. in september. and bond yields i'll just mention lifting off 6-week lows. larry, back to you. larry: great stuff. thanks, gerri willis. we appreciate it, as always. switching gears a little bit,

the phony cbo inflation report is a cover-up from the harmful effects of bidenomics. joining me the talk about it is the great art laffer, former reagan economist, and we welcome back texas congressman and budget chairman jodey arrington. gentlemen, thank you ever so much. jodey arrington, so let me get this right. phil swagel, who's the cbo director -- now, the guy's a republican, okay? i don't know what he's doing. he's covering up the biden inflation by using 2019 as a base instead of 2021. so i did some numbers, just hear me out. i'll be through it in a second. the actual inflation rate under bide an yulized is 5.6% at an annual rate. under mr. trump's four years -- this is biden, three years and one quarter. under trump's entire

administration, it was. -- 1.9, okay in 5.6 biden. the second point i'll make is the level of the cpi through april, 19.9, okay, percent. it's actually 19.866. i'm only doing that a because art laffer likes to do math and arithmetic, all right? so up almost 20. call it 20. you know what? the entire trump term, four years, the level of the cpi was up 7.7%. so it's 7.7 versus 20. all right, couldn't be clearer. how can the cbo try to explain that way? how can jared bernstein -- who is a friend of ours, for heavens sake -- still propagate the lie that biden inherited a 9% inflation rate, jodey arrington? >> well, no. they obviously had to borrow from trump's economic successes to mitigate the profligate spending and the failed economic policies of president biden.

and my democrat colleagues. that's what they did. that's why they had to dip into the years where you had high wage growth, you had low inflation, you had a good economy, and you just described the disastrous economy under this current president where the american people are a paying almost 20% more for the essential goods and services, $17,000 on average a year which is why, larry -- and, you know, all reports and studies and surveys aside, the american people and the consumer confidence index show a slower confidence than we've seen since covid. since all the shutdowns and the mandates and the depressioned -- depressed economy and society of covid. larry: you know -- thank you for that, mr. chairman. art a laugher, look -- art laffer, look, this business about jared bernstein is arguing now, and we heard it from the press secretary, karine jean-pierre,, the conditions were set e for high inflation.

[laughter] i mean, the conditions were set? there was a 1.4% year e on year inflation rate in january 2021. and, by the way, the covid spending bills were going to run out. it was to to-called american relief act or whatever it was called passed by the democrats in march of 2021 that triggered the inflation if. it almost started immediately after the spending going on. so, arthur, again, i ask you how can they make these arguments? and the public will see right through it, won't they? >> of course. you know, larry, let just add to what you've said, which i think is really important. there's not been one single month under biden inflation, the year over inflation, not one single month that is lower than every single month of trump. larry: oh. >> not one month. larry: wow. >> i mean, that's really powerful. the other thing is and just for the record, this latest one that was, quote-unquote, not so hot, the reason it wasn't hot wasn't because of the month, one-month

number. the one-month number was hot. but the number dropped off 12 months ago was hotter. so it looked like the rate of inflation was dropping, but it wasn't dropping because of the current, it was dropping because of the lag. so next month you'll see a much smaller number dropped off, and my bet is you'll see a slight uptick in the rate of inflation then. and let me, if i can come to gerri willis as well. you know, 40,000 on the dow, isn't that wonderful? you know, if you inflation-adjust the dow, which you should do, the dow has had an inflation increase since biden took office of about 7,800 points. so the dow in real terms is not as high as it was three years ago. larry: oh. >> so, you know, these numbers have been really do distilled and distorted. you know, i'm all for factual numbers and getting it right even when it goes against our narrative. this is really a true mistake. biden's inflation numbers are really horrible, and the stock market is not as wonderful as people are saying it is.

larry: that's an interesting point. in real terms, you're right. arthur, only because of you, i went and got the cpi to the third decimal, 19.866en increase was inaugurated. [laughter] all right. >> thank you, larry are. thank you. larry: no, no, it's my great pleasure. chairman jodey arrington, another point. this demand side of the economy has been relatively strong largely because of government spending. we've chronicled that, we've been all through that that on the show. you lock at some numbers -- look at some numbers today, one of the most important numbers, industrial production. and inside that number is manufacturing. inside that number is also business equipment. that's how much business investment you're getting. industrial production is the supply side of the economy. what businesses produce. so anyway, jodey. it has been flat. this is the most extraordinary thing. you can see that chart.

production and manufacturing and business equipment has been essentially flat during the entire biden years. and i've got to think, you know, regulations have had an impact, the energy war against fossil fuels has had an impact. there's no business confidence in mr. biden at all. but it's remarkable. the production side of the economy, jo can dey. hasn't moved in three years plus. that is some piece of work. what do you think about that? >> well, you've got to be really good and intentional about squeezing the supply side while you're flooding the demand if side with federal monies. larry: right. >> the supply side is squeezed by the things you just mentioned. and i would add to that, paying people who are capable of working not to work. so you combine the profligate spending with the squeeze on the supply side, and you get this inflation if their firestorm, this cost of living crisis.

so the hammer of high interest rates aren't going to be sufficient. you've got to rein in the spending, and and you've got to provide the supply side relief that we with saw during the trump add administration and republican control in congress; lower taxes, lower regulation, have the incentives for people who are work-capable to work. you to that, you bring the supply and demand into balance and do our days are ahead of us. and, certainly, you'll see a tampdown on the inflation. larry: jodey, just quickly, budget chairman, is there going to be a reconciliation bill for fy-25 coming up, i don't know, september 30th or thereabouts? and i ask that because you've got trillions of dollars of obligated but unspent funds. you know about this. >> yes. larry: and the trick so to stop that spending and, therefore, the borrowing and the debt burden. are you going to have a reconciliation bill to stop my of this?

>> you better believe it. that is the tool. that will be the super bowl to save the country from not only inflation, but a soften debt crisis that that looms -- sovereign debt crisis that loom over the horizon. and you've got to get at a mandatory spending, reform entitlements, and that's part of the utility of reconciliation that gives us the simple majority in the senate. it also allows us to lock in the supply-side relief with permanence on a tax, the tax cuts from the trump era among other things that will reignite growth. larry: right. >> if we can grow by 11% over what cbo -- 1, that's $3 trillion over 10 years in deficit reduction. so it's a combination of the two. larry: arthur, you heard chairman airington, he sounds like a supply-sider to me. >> yes. sounds great to me. larry: he's terrific. it's a blessing. arthur, just real quick, 30 seconds, why is production and manufacturing and business

equipment flat, the levels have gone no where, for three years plus, art? >> because you really haven't seen good economics done here, larry. you really haven't. you know, the employment to population is no higher than it was prior to the pandemic. in fact, it's a lot lore. if you look at it, we we don't have the investment because the tax cuts and jobs act had expensing of capital purchase in the first year. that was really powerful. we need to have a payroll tax cut and reinstate expensing on capital purchases, ask if we could send this economy to the moon. and that will happen, larry. it really will. larry: that's a great point because expensing has been phased down the last couple years. you're exactly right. >> yes. larry: and so, therefore, people are not investing anymore. all right. art laffer, thank you. mr. chairman, jodey arrington, appreciate it very, very much. >> thank you, larry. larry: all right, folks, day 18 of the new york city trial, mr. trump's trial. still can't find a crime.

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♪ ♪ larry: so a little more politics. the wildwood rally was game-changer, okay? that's my opinion. let's bring in rich lowry and liz peek. >> i missed the riff, but i assume it's brilliant, right? [laughter] larry: i don't know, it wasn't -- >> of course. larry: here's the point, 100,00, historically only f, the r had a higher rally, 1255,000 or 120,000 way back in 19332. not even i was around in 193 32. the 100,000 rally, rich, freaked

out democrats, all right? it showed trump's strength. >> yeah. larry: absolutely. so it's the not a coincidence that a couple days later biden comes out with this phony bravado video which they had to edit 5 or 6 or 8 times and challenges trump to a debate. i think the two are related. and the table talk again is if biden flunks that debate in june, they will take him out at the democratic national convention -- [laughter] in august 19th in chicago. so game-changer. of what do you think? >> well, i would also throw in "the new york times" poll that came out with trump basically ahead in all the swing states also a played into the fact. biden wouldn't be doing this unless he knew he's behind, right in the polls are wrong, but they know they're behind. they know they need a game-changer. debates usually aren't game-changers, but especially with the concerns about biden's age, his capabilities, he really needs to show up. it's one thing to read a teleprompter speech for 60 minuteses at the state of the

union, it's another thing to go 90 minutes toe to toe with donald trump. larry: they have been dodging the issue all along until suddenly a couple days after wildwood, they decided to debate. and democratic operatives, axelrod, i think he was a smart guy, beat us twice. james carville, for example, they're all getting on biden's case. and, liz, here's mike goodwin from the if new york post, brilliant columnist, 2024 race to the white house is now a donald trump's to lose. and he writes the court of public opinion doesn't give a damn about a stormy daniels and michael cohen. this is from mike goodwin. i happen to agree. >> well, i think that's right. i mean, clearly, you know, democrats have been opposed to biden debating. they're terrified of the fact that he might collapse or whatever, you know, wander off into the mental ether that he

does. and there's -- someone actually said out loud what, clearly, a lot of them have been thinking which is they have thrown everything at donald trump. they have thrown 91 indictments, 2 impeachments, all of the media a slamming him every time he says anything, and nothings has made a difference. that's the extraordinary thing. because biden has no accomplishments to run on. he can't run on his record, so all he's doing is slamming trump over and over and over again. at some point, people tune the out. and i think that's where they are. to rich's point, i think biden is up against a wall with. it takes a while to turn around really unfavorable approval ratings. it's now or never. and so this is a hail mary. they only have a couple months left. larry: that's right. >> i would say i think they kind of outmaneuvered the trump camp on this challenge that biden posted because he gets all the things he wanted in the way of the debate format. i don't think it'll matter in

the end, but having dana bash and jake tapper, having microphones that can be muted, no audience, all of that is good for biden. larry: it looks like, to me, wussiness. no fox, for heaven sakes. fox has higher ratings than all of those networks put together. it came up on the show last night, related to this, if bide biden flunks the first debate, okay, which is in, what is it, mid to late june, if he flunks, they could take him out many august. and that convention is so screwed up. did you see the rumors? they won't have a real convention, it's all a going to on zoom? >> of course, even when the pandemic's over, they have to do it on zoom. >> the basement. , it's back to the basement. march this is total chaos and disarray inside the democratic party, and then they're trying to chill out on the golf course -- i don't know what democrats do on the weekend -- and all they hear is 100,000 people in wildwood, new

jersey -- [laughter] biden couldn't get 20 people in a grocery store. do. >> on the core issues of a presidential election, who do you think's going to do a good job as a president, who do you trust the more if on all the issues that matter to you except for abortion, trump leads. and what biden is trying to do is undermine that with the peripheral stuff. oh, look, he's being tried. he supposedly said he's going to be a dictator on day one. and it's really hard to overcome that. what we're looking at the moment is biden could win a narrow electoral victory if he holds the blue wall withs. it's not outside the realm of imagination, but trump's electoral victory could go much higher than that, a narrow trump win or a big trump win. larry: liz, you were talking before about forming opinions, voter -- you're in mid may. we're coming up to memorial day. the polls are not vote, but they are snap shots of what folks are thinking. >> yeah. larry: and that trajectory is

completely bad for biden in every category. now, biden doesn't have much time, i'll just say much time to change it. >> i agree. larry: what is going to change? by september it's locked up. by september people are just, you know, they've already figured the game out. >> a good question. what could change? i guess we could get to a place where interest rates go down and maybe that juices the stock market although an awful lot of people think that is already are in the stock market, that really we're not going to see that. my opinion is the economy is slowing down. i don't think that helps biden. look, the other thing that he did this week was he talked, began spinning out a possible executive order on the border. they are frantic right now. they need to address some of these issues. larry: frantic. >> yeah. >> that's the one thing that could make sense, a meaningful executive order on the border. >> but i think he'll get tarred for three years of no executive orders on the border, right? larry: he was saying he couldn't do it, he couldn't do it.

oops, i can do it. [laughter] this order, 4,000 a day -- >> big number, yeah. why not shut it down immediately? larry: ah. i think a whole lot of people, including donald trump, will ask that question. in the debate, by the way. this is why i don't see biden has any shot at all. you agree with me. many your heart, you agree with me -- in your heart. wildwood was a shock. >> oh, i mean, it was huge. larry: we've never seen anything like it. >> whoever had the biggest crowds wins. in the democratic primary, that didn't work. bernie had the big crowds, biden still won. but as a sign of enthusiasm, it was astonishing and confirms what we see in the polls. even biden's supporters are not enthusiastic. >> that is really true. is and by the way, or i saw some poll, new jersey is -- larry: that's all he is, -5. >> unbelievable. larry: rich lowry and liz peek, thank you very, very much. all right, folks, another story today, the house oversight committee is moving to subpoena the biden family's bank records. our own grady trimble is here

with some of those details. grady, what you got? >> reporter: hey, larry. chair james comer tells fox business exclusively he subpoenaed a major bank -- didn't e say which one, but comer says the committee found new accounts that could lead it to new information about the biden family's business dealings. the committee is asking the bank for financial information from that bank about president biden's brother james, sister-in-law sarah and son hunter. >> if you were paying the biden family for the biden brand, you were buying joe biden, and joe biden wanted to the make sure all the shady people who spent the shady wire transfers through all the llc cans to the biden family, they wanted to know that that joe biden was front and center. and i think that the evidence will prove that. >> reporter: comer says the committee has identified dozens of accounts and llcs tied to the biden family with no explanation if for what what the family did to receive the money.

>> i don't think you will find very many people that have a billion dollar net worth to have as many different bank accounts as this biden family had. many of these were shell companies. >> reporter: we know jim biden has denied that that his brother joe, president biden, has done anything wrong or benefited from if his work with. he told the committee that behind closed doors, i might add. comer says he hopes of to have a full report on the committee's investigation very soon so the american people can decide just what went down. larry? larry: grady, hard hitting. thank you have very, very much. all right, folks, going to take a break. coming up, an update on the alvin bragg with, phony new york city trump trial. still can't find anything illegal. i'm kudlow. be right back. ♪ ♪ when enamel is gone, you cannot get it back. but you can repair it with pronamel repair. it penetrates deep into the tooth to actively repair acid weakened enamel.

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larry: day 18 of the alvin bragg, new york city trump trial, and there's still no trump crime. joining me now for more, or kerri urbahn, our fox news legag today? >> reporter: yeah. so we heard three main themes that the defense really hammered as they were cross-examining michael cohen. one is one that we already pretty are very familiar with in that he's a serial liar both

under oath and not under oath. two, he's a notorious blame shut every -- shifter. he's blamed everyone for the various troubles in his life including his bank, his accountant, his business partner, of course, donald trump, federal prosecutors, judges, everyone. and number three, that he was pretty disgruntled when he realized he was not going to be part of donald trump's inner circle in the white house because he thought he might be white house chief of staff -- [laughter] which is quite remarkable and was disappointed when he was not and was disappointed when reince priebus ended up deciding which job he would have. he was not happy about that. larry: so, kerri, i'm going to ask an obvious question, has anybody uncovered a crime, or has anybody uncovered a federal charge? i mean, this is the bragg stuff. where do we stand now with all of this? >> right. and that, you know, if i were making closing arguments today, larry, that's exactly what i'd go in on.

one, this case is about false if fight business records. we have not been presented with any evidence that donald trump knew what the accounts payable person in trump tower classified legal -- classifying those payments as legal payments to his personal attorney in that ledge arer book at trump tower. number two, even if he did know or even, you know, if it was put in that way, well, don't you call expenses or payment if to your personal lawyer legal expenses? and the reason that's especially important is one thing that's become very clear is that michael cohen continued to operate as donald trump's personal attorney through 2017 and 2018 when donald trump was in the white house. he testified that he made millions of dollars many outside consulting gigs that he otherwise would not have made had he not been donald trump's personal attorney. so again, in in this ledger book, legal expenses to donald trump's personal attorney who was still operating as his borne attorney. and then lastly, again, back to

closing arguments, if that was happening today, you know, i'd really speak to the heart of the jury and say if you don't believe those first two points, that means you are relying on the testimony of someone who is a serial liar, who was a disgruntled ex-employee, you know, who has demonstrate thed that he is willing to say whatever he needs to say in the moment to get what he wantses and whose testimony is just completely filled with inconsistent prior statements. i mean, this is a guy, larry, who was e-mailing reporters just several years ago i saying that a donald trump had nothing to do with the stormy daniels payment and now sits today and says he does. larry: kerri urbahn, question, closing argument as have or have not been made, and when the trial over? >> reporter: it's a great question, larry. it's manager that we're constantly thinking about and gaming out in the overflow room in the courtroom. right now if donald trump does not testify -- and, by the way, that is still a question mark -- it looks like the evidence will

be presented in its total by the end of monday. it means that the jury could be presented on tuesday, it means we could get a verdict maybe on thursday. but, look, cross-examination is still not over, redirect still needs to happen. there can be recross. there's going to be a defense expert witness called and so we'll see. larry: wow. i don't know if you know byron york who's a great columnist. he's a longtime friend -- >> i do know byron. larry: he writessed today, base basically he says the trump people should put alvin bragg on the witness stand and just ask him exactly what crimes have been committed. finish. [laughter] what is the, what is the federal crime? where is the federal charge? put alvin bragg on the stand, kerri. what do you think of that? >> yeah, i mean,head be great. and that's why -- that'd be great. and that's why this defense witness is actually going to be important. because as the law is, which is, what is it, conspiracy or to

influence an election by unlawful means. what does that mean exactly? that's very vague and very broad. and that's why this expert is important because right now what it feels like is that the state is writing into the law what it wants its definition to be because it's determined to get donald trump and remove him as a choice for the american people in november. larry: so if this thing -- just the last few seconds, this thing will spill over into next week. that's for sure. >> reporter: into next week? larry: yes. >> yes, for sure. no court tomorrow or next friday. right now maybe three days of court next week in total. larry: you're terrific. kerri urbahn, we really appreciate. folks, i'll be right back with my last word. ♪ ♪ ♪ i have type 2 diabetes, but i manage it well ♪

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larry: i just want to repeat, business is dooren plant. no production, there's no investment -- dormant. there's no energy and there's no confidence in the biden administration if because of all these tax and regulatory threats on a daily basis and the attacks on fossil fuel industry. so we're in a fix. production hasn't, moved in three years plus. neither has business investment. and that's really what drives the economy from the supply side. and it is a very weak economy because of all this. and we've got jackie deangeliss in for lizzie macdonald. jackie, what's cooking over there? jackie: couldn't agree with you more, larry. we've got a lot cooking tonight,

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