tv Kennedy FOX Business September 4, 2021 12:00am-1:00am EDT
combined $500 million to apple and google last year so if we see it go a part of it the way it's going to get the bottom line. jack: great ideas guys thanks very much. check out this weeks edition of barron's.com and follow us on twitter at barrens on line. we will see week. >> welcome everybody welcome to kudlow i am david asman a dismal jobs report released today 235,000 jobs added in august economist were expecting a number three times that. 728,000 and it did drop slightly and hourly wages were up only zero.6 percent. that came in lower than the
rate of inflation. so working americans are losing money. the president blaming the delta variant and unvaccinated americans. we have the details. >> when the jobs reports are good the president talks about building back better from the pandemic but this morning when the job reports are bad then the president blames the pandemic. >> people were looking and i was hoping for a higher number but next week i will lay out the next steps to combat the delta variant. >> republican from texas, congressman brady said it's more than just covid. the president worker list recovery is hampering main street and businesses fight to build jobs and family struggle with rising prices.
and with consumer optimism has dropped alarmingly. but the administration does not plan to change their approach. >> this month we had no growth at all. people are not going out to eat as much or not working there is to positive signs. >> they are tying to spin this as a positive that the average number of jobs created over the last three months is 750,000 and also while this is a miss it's not a loss. >>david: thank you very much we have kentucky congresswoman on —- congressman for more. so putting lipstick on a pig of a report. did it work? >> no way did it. today's disappointing jobs report is not only evidence the economy is slowing, it is
further proof that this administration's tax, borrow, spend economic policy is as disastrous as the afghanistan policy. it is a total failure. even though we have come out of the worst part of the pandemic there are still 5 million fewer jobs today than it was before the pandemic and ten.5 million job openings in america and eight. 4 million and they cannot find workers because they pay people to not work. >> and that number keeps growing that was nine.5 million. and wage growth is not keeping up with inflation zero.6 percent month over month but for the year four.3 percent wage growth on
—- growth was five.4 percent that means working americans are losing the over percentage point in earnings jamboard in the real world, the last two days i have been spending time with employers in central kentucky. and that with the her on —- the owner of a asphalt plant and a supervisor in it auto parts manufacturing company in the restaurant owner and homebuilders and prominent auto dealer they all have the same concerning complaint that they cannot compete with the government for workers they cannot find workers the government is discouraging workers and compromising their ability the dealer told me just this afternoon this is the worst he has seen in 40 years in the car business satisfy we have to do everything we can to defeat
the three.5 trillion-dollar tax increase and more growth in the entitlement state which would further put pressure on the labor shortage problem in this country. >>david: small restaurants and contractors. the big companies the amazons and the big multinationals they are very happy but the small people that are killed. the president by the way is speaking about these bad numbers although did not refer to them as bad numbers but how much he cared about the middle class and go after the big corporation let me play a soundbite of that. >> when the wealthiest are two period on —- pay their fair share it will put those to punch their ticket and stay middle-class. >> the lead in to raise taxes
but now the trump tax cuts that came in 2017 afterwords we saw exactly what the president says we did not see which is middle-class did quite well with blue-collar wages growing faster than white-collar poverty rates a record low 2019 wheel household income increased by 13 times the average annual postwar gain of $4379. they benefited from the tax cuts. >> the number bears that out and not only if we start lower income americans to see the fast age assess wage growth but we didn't have inflation and because of the overspending we are artificially increasing the cost-of-living so middle-class americans are getting a double
whammy not only are they facing higher taxes from the biden proposals but a higher cost of living which is the inflation tax. this is a disastrous economic policy. we have to defeat more of the borrowed tax and spend strategy which makes life more difficult for working americans. i have been talking to the people last several days and they are telling me, we have to start paying people to not work. >>david: inflation comes from two policies the person responsible is president biden. the extension of these unemployment benefits incentivizing people and competing these businesses with the government if you have ten.5 million unfilled jobs that means you have far fewer things are being made and services provided and the cost of each individual item goes up and then of course
when you spend money you don't have the net also causes inflation. senator manchin the vote that the president desperately needs to pass the three.5 trillion-dollar new plan, he says he won't do it. is too much money he believes that is causing inflation. what is causing joe mansion to announce publicly he will bow out of the next spending plan quick. >> good for senator manchin. there is a kernel of common sense left in the democratic party i think he is listening to the american people and to his constituents the hard-working west virginia miners and farmers and shopkeepers. >>david: forgive me who voted overwhelmingly for president trump in 2020.
68 percent of west virginians voted for president trump as opposed to 20 mine percent for fight on —- biden you added what has happened since then with the debacle in afghanistan and inflation and the chaos at the border. trump would get 75 percent right now. >> absolutely that's true but the bottom line is we just need economic policies that make sense that do not produce inflation and also lift wages the natural way to encourage work. so many hard-working americans are so upset they think it is a kick in the teeth to work hard over time and the government is paying other people more to not work is not right and is not fair and it's not fair to the people who are sidelined and out of the workforce and it deprives them of the dignity of work work is not a punishment but a blessing and it's time for our
leadership in washington to stop discouraging work. work is what makes us compete globally. it is what will give americans the prosperity they deserve. >>david: senator manchin is taking heat from the squad. aoc tweeted his weekly huddle with exxon is one of many senators who give lobbyists the bipartisan fossil fuel bills. it is killing people. essentially accusing joe mansion of killing people. which one —- wonder how much longer the democrats can go with a split. so you have a bill that comes for a full accounting of exactly what joe biden hasty withdrawal with the taliban one of the biggest armies in the world of our materials any luck living that forward. >> we shouldn't have any
problem because your family is connected to the marine corps and they have leave no one behind this administration has admitted they left over 200 americans who wanted to get out of afghanistan behind and it could be in the thousands. on august 15 when the taliban took over kabul the estimates were between ten and 15000 americans stuck behind enemy lines in afghanistan. on august 31st secretary blinken briefed congress and said they extracted only 5500 americans. there excuse the americans don't want to leave afghanistan. think about that how many americans do you really believe want to stay in a failed collapsed state and terrace that hates americans? that makes no sense what so whether on —- whatsoever is
present need to do everything in his power to evacuate all americans. leave no one behind. that is why it requires an accounting the weapons left behind in enemy hands and also those who are abandoned in a war-torn country. every constituent i have talked to her so mad about this especially veterans. >>david: democrats can vote for that as well secretary blinken left a press conference talking about a small group of americans. it's okay because it's just a small group i don't care if it is ten or 1000. we should not leave a single american behind the congressman said he wasn't going to but he did anyway. >> this is a hostage crisis in the making and we cannot pay the taliban any taxpayer funds.
>>david: thank you the second surrender how his corporate tax hike is a gift for the chinese we will talk about it and still had the taliban taking total control of afghanistan what hope to stranded americans have to escape? stay with kudlow. there's a line between drinking and riding. alcohol limits your reaction time, and even one drink can affect your ability to ride. then before you know it, you've been pulled over. there's a line between drinking and riding, and the smart ones never cross it. (vo) this is more than just a building. there's a line between drinking and riding, it's an ai-powered investment firm with
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that's golo.com. ♪ david: biden second surrender af >>david: biden's second surrender after last week humiliating failure the august jobs report isn't looking too good either now my next guest rights in a new op-ed that the presidents push for higher taxes could be an economic chinese communist party and other rivals. we have charlie hurt and kim strawser wall street journal columnist and fox news contributor. kim, howell higher tax rates year be a gift to the communist chinese? >> you wouldn't know it listening to democrats on —- democrats describing the six reform as i give to the rich a
lot complaint at the time it did not do much on the individual side the point of that reform was to overhaul the corporate tax system because we are so uncompetitive. we dididit that. we lowered rates moved to a territory system and money flooded back in. >>david: over $1 trillion.ll >> yes. that went into american factories and jobs and wages that then biden wants to destroy that put it back into the same situation we were in the for and by penalizing our companies it's another way to say they are giving an upper hand to all of the rivals out there to the american companies whether china or russia or europe or the middle east. >>david: charlie, something else is afghanistan listen to the comments. it's not me that the taliban who says told pro republicant
newspaper china is our most important partner and represents a fundamental and extraordinary opportunity for t us. because it's ready to invest and rebuild our country and strip it of minerals that they need. >> absolutely. regardless of what you think the wonder what you think of the effectiveness in the first place that the way the president has handled this has been an unmitigated disaster one of the main reasons is what you areou talking about here. the vacuum created by the united states with this disastrous withdrawal opens like afghanistan a known terrorist hotbed where they can launch very bad things that hurt other countries very badly it chases them into the
arms of the chinese and they are delighted but what is scary is we're in the same situation as we are with the americans and other allies who are still stranded in afghanistan. our only hope is that the taliban gets tired of dealing with the chinese and makes a decision not to do the chinese there's a lot of arguments to be made they will not get along very well but talk about having a fistful of that options. >>david: son are beginning to tire of joe biden and senator manchin came out in your paper yesterday why he will not be adding his note to the three.5 trillion so now question if he would take 1 trillion lesser just negotiation but how much of his decision is a result of
the afghanistan debacle? >> you are seeing in different places. you have the op-edn and 14 members buck the biden administration and agreed to add more money to the defense budget because i think they are feeling vulnerable on this issue. but by the way with senator manchin it should have democratic leaders concerned not that he goes to three.5 trillion he said he might not. but the fact we need to pause and then wait to see whether or not inflation is transitory is not something you work out in aou couple of weeks. that suggest he's looking for months and that way derail nancy pelosi's plan of infrastructure to jam that quickly threw in september.
>>david: and with the filibuster and a whole lot of other issues the radicals want to get down on. so it leads me to ask about what happens to the squad? so far they have the ear of president guide in one —- biden guiding him through the halfway to the presidency because clearly those policiesci have gone so far left not only in the senate but in the house wonder what they got themselves into what about kamala harris she got a vote of being further to the left in thehe united states senate and socialist sanders is the power of the left diminishing or do they take that off the cliff? >> first of all i think kamala harris is joe biden's insurance policy against having the 25th amendment because nobody likes kamala
harris, not even democrats and they realize that. but under normal circumstances if you have an administration that has last couple of weeks they have had bit they are trying to figure out a better more popular way to go. so i will see them double down in their desperation able to everything they can to go for broke may have a limited period of time in which to do and my hope is republicans learn some lessons from donald trump about running campaigns and celebrating work and workers and industry and companies that make goods here in the united states. >>david: celebrating america we don't have to be ashamed
wanting to celebrate america. think they are beginning to stand up and say such things. it is amazing if we go farther to the left they don't know how much farther they can go. what a wonderful panel. great to see you. stocks finishing mixed after the disappointing jobs report. and then how to get the stranded americans and afghan allies out of afghanistan with ric grenell. ric grenell. stay with us. [sfx: radio being tuned] welcome to allstate. ♪ [band plays] ♪ a place where everyone lives life well-protected. ♪♪ and even when things go a bit wrong, we've got your back.
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great picture with 235 jobs added well below estimates and sending stocks lower today. joining us now judy shelton former trump economic advisor things for being here and of course president biden is to raise taxes. what do you think that would you to the economy? [laughter] >> i think it is the opposite of what is needed we actually got the excellent low unemployment numbers and good growth and wage increases in productivity increases after having rollback taxes and regulations pushing energy capabilities and finally confront china so a reversal of those policies going in the wrong direction. >>david: you made a good point bringing up energy that's part to bring corporations back for places like ireland and
hungary with lower rates we had the top rate in the industrialized world but also deregulating the economy this goes back to the reagan years where deregulation is the form of a tax cut we don't see any of that i'm sure there's a lot more regulations now than when trump left. >> all of those policies emphasize the private sector and they give our economy a chance and then you start to enclose the income wealth gap answer you give working people a chance to get ahead that's genuine prosperity that raises standards of living. >>david: the other thing about the whole energy push and the trump administration and the
attempt to reverse at all by closing out the pipeline which immediately kills us jobs they always talk aboutut the green jobs and remember during the obama biden administration all the talk about the green jobs we will be creating the wall street journal did an extraordinary report in 2012. sending reporters to windfarms where the administration was coming out with these figures of tens of thousands of workers. the wall street journal found there were just dozens. not even hundreds not thousands. just dozens of extra jobs created and some of those windfarms went out of business. a lot of that is pie in the sky. >> i think whenever the government tries to pick winners and engage in industrial policy, it is a mistake to get some breakthroughs and the dynamism from the private sector.
to have liquefied natural gas and coal and then they have been able to the technology the research done in private and not by government officials. >>david: keeping on the job numbers there are disincentives congressman barr talks about how he visited a lot of small businesses in his neighborhood that they were getting killed to completen with government unemployment0 benefits not that what they did but all of the other benefits that you get for essentially doing nothing. these mandates for state governments as well to chip in money. there really are too many
disincentives for work right now. >> not only that we see people not to work but i think it is demoralizing for those who are working because they see by doing the right thing by trying to put a little bit of savings aside they cannot get ahead the interstate policies of the fed have given zero returns on bank accounts is slightly unfair but if you see someone not making the effort than people think why not set at home? and then knowing they are providing a welcome to service. >>david: working americans are losing money with inflation
they just showed that quite clearly it is a full percentage point higher than wage growth so people are falling behind and that's a problem. it's a problem for president biden frankly great to see you thank you for being here. we appreciate it. the mistakes biden made with the afghanistan withdrawal our never ending we will discuss acformer acting director ric acformer acting director ric grenell when kudlow we finally found the perfect house. yeah, we couldn't believe the deal we got. just lucky i guess. (sfx: airplane flying overhead) we're a little closer to the airport than we thought... (sfx: airplane grounded outside the house) at least geico makes bundling our home and car insurance easy. saving us so much money. -hi. -how was your flight? -good. -good. morning, ted. for bundling made easy, go to geico.com.
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(upbeat music) how you doing? hey mason! hi mason! thank you. david: the foolish and deadly heirs made him president biden's >>david: the solution deadly heirs made in the history afghan withdrawal are many includingef one pulling troops out before we got stranded americans out. abandoning biography airport leaving untold military treasure for the taliban, sharing intel and
working with the terrorist taliban at kabul airport may have hastened the mass murder suicide bombing. than the many misstatements by the president andom his team that will infuriating the allies. first we had ric grenell former ambassador to germany it's impossible to go through all of the unforced errors. with the troops were removed the president said he wouldn't do when he did not deliver on the promise. that is the worst. >> i'm not yet sure because we are in the midst of the crisis. although washington dc media circles think the whole thing is over and we can now talk about what went wrong? we have weapons that are in
the hands of our enemies i just met with president trump this week for almost two hours and he was really focused on this problem that is forthcoming. already that is the first crisis. the second is what i have been hearing about the last coupleee of days from my time in germany of my former colleagues that work for the embassy are calling to tell me and these are career officials those based in germany and that the vetting part on —- process is a disaster of your for space. we have a real problem tens of thousands afghans coming in from kuwait, sometimes just refueling in ram stein and then moving on.
so the biden team is asking career officials to put them through quickly when there is a lack of information with no documentation they are being told to use a hunch. your own internal mechanism whether or not these individuals should come to the united states. now they are in a terrible position because they will be getting in trouble. congress mandates the criteria the state department should wtake it's time. we all want to welcome refugees. we welcome 1 million every year but there is 100 million people waiting in i line. i am very nervous at the vetting process we 40 same the associated press come forward to say they are fighting individuals who made it to the united states from afghanistan who have child brides with
them. kids they have married. how do they get to the state apartment and dhs vetting system? the biden administration has pressured our front-line career officials in germany to speed to the process and use a hunch if you don't have enough documentation that's illegal in congress needs to step in. >>david: we started to get signs with a document a former air force pilot who was a united pilot who said he flew a bunch of afghans over from kuwait to dulles airport he said practically nine, just a couple spoke english. they obviously were not translators. and clearly they had not worked with americans at all. at the same time yesterday the general in europe was bragging
about how well they did their vetting process saying the only had one red flag with all of the thousands of refugees. how could he say something like that quick. >> he is lying. these people work for me in germany. i know them. i have multiple multiple people reach out t to me. even have situations where people were asked to volunteer because it is such a chaotic situation at ram stein. people were asked to volunteer and they are refusing because they don't want to be trapped into pushing people through. so i will that day did a touchdown to refuel because i am told in certain flights from kuwait touchdown to refuel that dhs is putting air marshals on those planes. if that vetting process is so
great then why do we need air marshals on the plane because we are nervous about the vetting it is a disaster and things are not going well. >>david: a lot of this is happening in europe the european allies so first of all the president last week said they had been fully withdrawal our plans which clearly wasn't true and then he began to blame the afghan military for all of the disasters that occurred. this is a memorable moment i want to play the tape a british parliamentarian head of the foreign affairs skin committee said the following. >> the commander-in-chief the courage of the man that i fought with shameful.
>> those who have never fought should be careful about criticizing those who have. >>david: i get goosebumps because it was shameful the finger-pointing about what went wrong. will this administration ever get them back in it's good graces? they may have had some sympathy at the very beginning but i don't see any now. >> i think they wanted joe was built on consensus but is not just the british that's a problem remember the name of armand he will replace angela merkel and the new leader of germany is my prediction will be in as the new chancellor already he has been incredibly critical of the biden administration
calling it a disaster. this is a situation whether allies that will not easily turn around. they want joe biden and they regret it because as they know if you have an america that leads then you have a global policy. >>david: it inspires remorse. we have very little time that veryou quickly, you don't think this is coming from joe biden? if it is it is with a bigcu assist from other people and in particular, susan rice. is she calling a lot of the shots quick. >> remember when she was national security advisor one deputy was secretary blank and running diplomacy the other runs the intelligence program. both of those diplomacy and intelligence report to b susan rice.es nobody believes susan rice ishe doing domestic policy regime and if you think she is working on medicare medicaid. she is not.
>>david: ric grenell thank you for being here. we appreciate it. parents push back on teachers and doctor needing woke ideology and critical race ideology and critical race thth ideology and critical race thth ideology and critical race thth ♪ ♪ ♪ ideology and critical race thth easy tools on the chase mobile app. simplicity feels good. chase. make more of what's yours. that spin class was brutal. well, you can try using the buick's massaging seat. oh. yeah, that's nice. can i use apple carplay to put some music on? sure, it's wireless. what's your buick's wi-fi password? it's buick envision. that's a really tight spot. i used to hate parallel parking. ( all together ) me too! the all-new buick envision. built around you. all of you. pay no interest for 72 months plus current eligible buick owners get 5 hundred purchase allowance on 20-21 buick suv models.
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>>david: the only good thing about the pandemic are the reveals revealing the hypocrisy and power grabs a politicians and the revelations of what our kids are being taught through zoom classes and social media postings of radical educators are too much time on their hands but now parents are pushing back against woke culture and joining us now to discuss this is doctor then cars are former heidi secretary. thanks for coming in. the worst recent example the marxist high school teacher who had a flag of antifa on his wall it would be little the students that objectednt saying you are just proving my point we need to go forward and the school board had a meeting and the parents push
back and want to get your areaction. >> he has the antitheft flag on the wall chairman mao on his wall. indoctrinating kids every single day. where were you? he was fired today. why not one year ago? why not two years ago? why does this keep on going for so long why do we do anything about it now? >> because he got caught. >>david: is he right quick. >> of course he is right. the flag had been sitting there and proposing all this stuff for a couple of years they had to know about that if they don't and they need to be fired because they are not paying attention to what is going on in their school. >>david: but they are supported with a tremendous union specter in the background that has been empowered by hundreds of billions of people.
the teachers unions support this and critical race theoryhe in the 1619 project they are pushing this and they are a very powerful organization. and that is looking at marxism. and with all of the things they are proposing. and then to be rehashed at this time and in the attempt to indoctrinate the young people to prepare them for a fundamental change in our society. some parents are waking up parents are on both sides of the aisle know that this is not good. when you so the seeds of discord in division in society there's no way this can have a good outcome and hasn't anywhere else and it won't
here so the american people are a little more in tune than they have another places so i don't think they can pull this off they have but it will not work because our success will be based on the fact we have an educated and intelligent populace that can see what is going on. >>david: meanwhile the real function of schools has failed terribly the basic skills that kids but you have failing grades all over the place partly because the pandemic but also because they care more about the marxist theory more than reading or writing or arithmetic. >> that's what yous see a proliferation of his home schools in the black community especially. that's at' good thing so i think
a lot of it has to do with the fact that people are not being taught the basics of what they need to know. >>david: we could go further than homeschooling and that would be to have choice and give people vouchers taking their money to the nonunion charter schools if they want to force the teachers unions to do what they are supposed to do and if they don't the parents will take their money elsewhere. >> absolutely that would make a lot of sense people are interested in that now but look at what we are doing to do the kids and then the black and minority kids one thing is absolutely true no matter where you came from the matter what your economic circumstance is, if you get a good education you write your own ticket but what these
people are doing is to convince these kids they are victims in a matter what happens they will continue to be victims and they will not develop that winners our attitude i had that until we began to realize so that's what made america a great they can do attitude not the what can you do for me attitude which is preached now. >>david: people come from all over the world not to be victims badve achieve greatness
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it's a great reminder to catch them being good and that great parenting advice is just a click away. ♪ david: well, we started the show with jobs, and guess what? it is labor day weekend, so >>david: we started the show with jobs now labor day weekend have a late wonderful "the evening edit" starts right now. ♪ elizabeth: okay, we're closing out a bad week for the white house, an historically bad jobs report today. the president was handed a the president was handed a v-shaped recovery as a secure border not undone by the policy, that the debate on washington people don't feel safe and in one week we have five polls showing a plunge and voter approval and confidence in the president. democrat lawmakers are pushing for probes demanding9 that the white house declassify the true number of americans and
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