will ryan's support be enough to achieve unity and the senior contributor larry kudlow. running the transition team and chris christie going off to the side. now it gets real. what do they mean? >> i think i don't want to criticize anybody, but putting pence in is bringing in the heavy weights. number one, how much they want to shape up the transition operation, probably speed it up and get the appointments. transitions do policy as well as appointments. both are crucial. rick deer born has been put in there and is another heavy weight under pence's supervision. the other thing i saw was kellyanne conway tweeted that she does intend to go into the white house. >> what are role do you want her to play? >> approximate in my opinion she can have any one she wants. she was a miracle worker in messaging and the political operation. a miracle worker. she could be chief of staff, deputy chief of staff and political director. there a lot of hats, but she will be at the top level. that's great news. putting pence in and reassuring about kellyanne really helps to unify the republi

i am pleased to welcome larry kudlow back to this table. welcome, sir. >> thank you. >> greet to see you doing so well. >> thank you, sir. >> i'll talk about the book in a moment. so where do you see the campaign today? >> well, i think it's pretty close right now. >> republicans seem to be coming home so to speak. >> seems to be. i think two weeks ago it looked like hillary was going to run the table. >> it did. >> and then of course the fbi stuff comes in, and abedin and her husband and of course. and the whole investigation may be redone. have never seen anything quite lake this. at this point my best guess and you know, you need other pollsters to do this, but the national race looks very, very, very close. the question is on the battleground states. i think hillary has an advantage right now in the battleground states but that may be ephemeral as this week goes on. and trump is trying to widen, broaden his wings, we'll see. >> rose: there is a notion and whether it has any impact at all, that there is, an i think this has been measured

charlie: larry kudlow is here, cnbc contributor and informal advisor. he hosted cnbc's primetime show, "the kudlow report." i am pleased to welcome larry kudlow back at this table. welcome. great to see you doing so well. larry: thank you, sir. charlie: where do you see the campaign now? larry: i think it is pretty close. charlie: republicans seem to be coming home, so to speak? larry: two weeks ago it looks like hillary was going to run the table and then the fbi stuff came in and her husband. the whole investigation may be redone. i've never seen anything quite like this. at this point, my best guess -- and you need other pollsters to do this. at the national race looks ery, very close. the question is on the battleground states. i think hillary has an advantage but that may be ephemeral as this week goes on. trump is trying to broaden his wings. we will see. charlie: there is a notion, whether it has any impact at all, that there is more enthusiasm -- however you quantify this, or what the metric is, i don't know -- for the trump campaign. they seem

when we met with larry kudlow four or five months ago, he asked larry kudlow, you know larry kudlow kudlfrom cnbc, we looked at each other and we said, donald, we can't work for you, we believe in free trade. and this is exactly the point you were making, mayor. he said to us, okay, we can agree to disagree on that, but i want you to work with us on taxes and so on. so on the tax plan which we did work on, you summarized it very well, mayor. the heart of the plan is a business tax cut. and i actually think, kellyanne, we can get this done in the first 150 days, i really do. i think we can do it with democratic votes. senator, we were talking about this, i think we can get a lot of democrats to vote for a business tax plan that actually has some infrastructure spending in it, and basically we want to take the highest business tax rate in the world, by the way, not just for corporations, but for small businesses, and i have to tell you all, when we first met with donald trump on this, he said, when you do this tax plan, i don't just want it to be for the corporations. he said, i want it to be

coming up larry kudlow brings us his trump to-do list. and from grub hub to new balance ceos are weighing in on america's 45th president. just like the election people are divided and some are threatening to boycott brands. those details are coming up. >>> we have cnbc senior markets commentator michael santoli as well as evan newmark and ryan kelly. what a wild week it has been. >> only 5% in five days. it has been amazing. three days is when the upside came in mostly. obviously took a little breather today. small cap stocks still part of the big story which is from safer areas in the market to riskier and more domestic areas. also a couple of pockets of interest are retailers were also on the upside today. that is interesting in the sense that it is a little more of a tangible bet that the consumer might come out of his or her shell in the next couple of months. keep an eye on oil. it is really setting up as commodity drive. it made a lot of sense to have rotation for three days. i think it is sususpectable to policy headlines and wrink

here,e: larry kudlow is cnbc contributor and informal advisor. primetime show, report." i am pleased to welcome larry kudlow back at this table. great to see you doing so well. larry: thank you, sir. charlie:

charlie: larry kudlow is here, cnbc contributor and informal advisor. he hosted cnbc's primetime show, "the kudlow report." i am pleased to welcome larry kudlow back at this table. welcome. great to see you doing so well. larry: thank you, sir. charlie: wheo

here,e: larry kudlow is cnbc contributor and informal advisor. primetime show, report." i am pleased to welcome larry kudlow back at this table. great to see you doing so well. larry: thank you, sir. charlie: where do you see the campaign now? larry: i think it is pretty close. republican --charlie: republicans seem to be coming home, so to speak? larry: two weeks ago it looks like hillary was going to run the table and then the fbi stuff came in and her husband. the whole investigation may be redone. --this point, my best guess and you need other pollsters to do this. at the national race looks very, very close. the question is on the battleground states. i think hillary has an advantage but that may be ephemeral as this week goes on. trump is trying to broaden his wings. we will see. charlie: there is a notion, whether it has any impact at all , that there is more enthusiasm -- however you quantify this, or what the metric is, i don't know -- for the trump campaign. larry: you've got mo. charlie: as george bush would say. larry: i think it is for two reasons. one is th

. >> we need to get reaction now from cnbc's senior contributor larry kudlow. good to see you. >> thank you, appreciate it. >> so we have been talking about trade for a while with you. i think you've been urging the trump team to back away from the tough talk on tariffs. nobody expected the tpp to pass, both parties against it, but the concern would be for multinationals and for other countries that this is a signal that he is going to go there. what is going on? >> well, hang on a second. he's not talking tariffs. they're happy about that, i might add. he's talking about renegotiating and talking about pulling out of the tpp, a flawed, whatever it is called, pacific trade, a very flawed document. i don't think it would have passed no matter who is elected. here is the distinction. think of it this way. i think this is what mr. trump is getting at. global free enterprise trade is a good idea. but global government run and regulated international boards, not american representation, is a bad idea. and that's the biggest problem with this pacific trade deal. it i

but does larry kudlow get a call today? does scar much get a call today. >> that's a delicate dance. >> i'm putting this out there as meaning i don't know who an anti-establishment candidate suggests for the federal reserve. is this one of those raise less corn more hell populist movement right now where it's william -- where we're stapled across gold. are we going to get william jennings brian populism, who knows what he would do, or mckinley republicanism? i don't think you know until you see the whites of their eyes which means appointments. >> what about trade? what about the expectation he could try and repeal nafta and all the things that will come with that? again, is that something we can expect? it's certainly been a key part of his appeal. >> have to. have to. have to. look, when nafta was created, the ratio of the peso to the dollar was not 20/1. people in mexico getting $2.75 an hour, that's the lowest in the world. if you're bmw right now and trying to figure out whether to put that plant in pueblo, or south ca

. >> cnbc's larry kudlow. from the reagan administration and maybe in the new administration. going to do it for this hour. happy veterans day to you and mtp daily with chuck todd starts now. >> if it's friday, a party in crisis looks for the new leader. tonight, how do the democrats rebuild after this week's election day drubbing. plus, trump's transition team. christie is out. mike pence is in. what was the common thread from reagan to obama that should have told us it would be trump in the end. mtp daily starts now. >>> good evening. happy friday. happy friday. big news this afternoon. a bit of a shake-up in trump's transition team. mike pence is taking the reigns from chris christie and he said he was proud of the work they did for doing the ground work. trump's three oldest children will be taking top roles in the effort along with his son in law. vice president-elect pence with senator sessions and the ceo are leading the charge and widdling down cabinet positions. the first number of congress is also on the transition team. we will be speaking with him later in the show

if you think larry is wrong about that, it's larry kudlow at you know what. >> reporter: i'm not saying who is right or wrong. when rates were going down in january because we were linked at the hip about the crazy programs how europe was going negative -- >> i want to underline something that you brought up which was the difference between what the europeans can learn from the united states because european rates are rising and it's much more dangerous for them because they have so much debt. you and i have sat through many ecb meetings and listen to mario draghi begging for the countries to deregulate. to do all kinds of things to help and they don't do it. >> right. but, look, michele, let's be careful about something. one of the reasons why we have a rather extreme financial regulatory scheme in place is because we just went through a rather traumatic financial crisis. >> i'm talking about -- >> when the government forced rates on people who couldn't afford it. let's not whine about the prices. they have raw meat for all the banks, fannie mae, credit was cheaper. they created a horr

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kudlow who's goingo be one of, i believe, one of preresident trump's major economic advisers, they're talking about doing tax reform. if the democrats insist that any tax reform should actuallll also do something to reduce the a great position to take, there are all kinds of deals to be made. he really is a great deal maker. we'll see. >> s so sam, what i and donald trump, the only tngng h talkedd abouthe other night was infrastructure spending, house republicans do not like, and they haven't gone for. but what if the deal, the paul ryan/mitch mcconnell deal is, re, p president trumump, here's your infrastructurebill, it is paid for with cuts from medicare. million dollar question. what does he do at that juncture? you know, i keep thinknking that trump has p promised his supporters an incredible set of realistic visions that they can both get all their jobs back that have been gone away from decades of globalization that has nothing to do reallll with politics, th theyy can see border wall constructed that mexico will somehow pay for and that will stop heroin from coming into their c

and larry kudlow. how do you explain that dichotomy that steve illustrated for us, trump seems to be ahead on who would be better for the economy, clinton better for the market. >> i can't explain it. >> okay. thank you very much, larry kudlow, for being with us today. >> if you tell me that higher taxes and regulations and nationalized health care is good for the economy, and the stock, and/or the stock market, i'm going to tell you you're wrong. trillion and a half tax spike, trillion and a half spending, the size of government will be increased, the private sector will be drained of the resources. i understand, i think there is a fear factor with mr. trump, an uncertainty factor and i also understand a protectionist factor. i happen to think it is protectionism that is more bark than bite, no. more bark than bite, right. i don't think it will go the way the people are thinking it is going to go. that's the single biggest obstacle. the rest, come on, 4% to 5% growth and his business tax cuts alone ar

keith boykin, larry kudlow, thanks so much. >> thank you. civil. >> special election coverage tuesday night november 8th starting at 7:00 p.m. eastern time. >> could be a long night, for all of you. >>> when we come back we're going to continue our election coverage. former office depot ceo and the ceo of the committee for economic development steve odland will be joining us to talk about which candidate will be best for business, the economy and more. >>> and it's fed day. the fed wrapping up its two-day meeting. we'll hear from former fed governor mark olson. much more ahead on "squawk on the street." the dow is down about six points. stay with us. pursuit of healthi. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healt

joining us, larry kudlow. good to have you here. steve mnuchin says that even though the wealthy will get a cut in the rate that they pay, the deductions are going to be so eliminated that ultimately they're going to write the same size check. >> close. a fair statement. remember, you're lowering the rate, broadening the base, simplifying the code by limiting the deductions in many cases, getting rid of the deductions. people hate complexity. that's a really key part going all the way back to the beginning of the year when we were discussing this thing. mr. trump himself, president trump himself said i hate the code, a stack of papers that his accountant s do. >> many people say the math doesn't add up. >> wait until the legislation comes through. that's all i'll say. his point, his generic point is a very good point. and i just want to put a number in here, okay. including the deductions estimated, very hard to estimate this thing, you've got middle brackets, middle brackets in this, running tax cuts, right, 7, 8, 9, 10% for the mi

let's bring in larry kudlow. good to see you. long seven days or so. so i'm not sure anybody slept for that time. first off, where are the jobs going to be? we hear about infrastructure. i wonder are there people to do those jobs? >> yeah, i think there are. infrastructure is not a huge sector of the economy. and i think people make too much of this so-called stimulative efforts. you create jobs and lose the jobs. people can do them. you have people laid off in manufacturing and hard goods industry. you got people in the construction industry that have not been employed, the housing recovery has been menso, menso. infrastructure is one spot. i myself think technology, anything to do with technology, sully, will be the biggest job creator and probably second would be the -- anything to do with the health care industry. >> you're, you know, know the thinking of the trump administration or future trump administration on jobs and immigration. all the attention has been placed on illegal immigration, 60 minutes, big part of the interview last night. what ab

kudlow, cnbc contributor. which way trump will go, that is too early to say, but that is the billion dollar question. also want to tell you about a big deal happening in the cyber security space. semantics said it would acquire lifelock for $2.3 billion. lifelock is a u.s. identity theft protection services company and why does symantec want to buy them? they see flagging sales at norton, its unit that's relied so heavily on pc sales, but they are lagging, too. >> we're just about at thanksgiving, just about black friday and cyber monday, but reporting out now is that more people who buy things online are going to use their phones than their computers. >> so let me qualify this a little bit, because actually this research, which is according to adobe digital insights says more people are going to be visiting store sites and apps on their mobile as opposed to the desktop, but when it actually comes to translating that into sales, well, it's not quite the same. the final two months of the year this report says t

kudlow who's going to be one of, i believe, one of president trump's major economic advisers, they're talking about doing tax reform. if the democrats insist that any tax reform should actually also do something to reduce the deficit, which i think would be a great position to take, there are all kinds of deals to be made. the best part about trump, maybe he really is a great deal maker. we'll see. >> so sam, what if, and donald trump, the only thing he talked about the other night was infrastructure spending, house republicans do not like, and they haven't gone for. but what if the deal, the paul ryan/mitch mcconnell deal is, here, president trump, here's your infrastructure bill, it is paid for with cuts from medicare. >> that's, that's sort of the million dollar question. what does he do at that juncture? you know, i keep thinking that trump has promised his supporters an incredible set of realistic visions that they can both get all their jobs back that have been gone away from decades of globalization that has nothing to do really with politics, that they can see border wall cons

. >> that was larry kudlow, who was on the set as well. you could hear him. he went on to say, i walked to the office in shorts this morning. >> good for him. and he did tell me several months ago the reason he moved is because it is closer to his sister and his mother. but we should say, david tepper is the only wealthy billionaire who when he left the state impacted the entire state budget. they had to revise the budget because david tepper, who makes most years more than a billion dollars a year and pays that 9% income tax rate in new jersey, talking over $100 million a year, many years, when he left, that affected the entire state budget. that has -- >> special meeting to try to figure out how to redo the budget because of tepper -- >> that's a big issue. one thing i would say overall, this is not about the election. david tepper is not out to change minds here. this is about billionaire competitiveness with philanthropy. and there is no more competitive space in the wealth space than philanthropy. when one guy says he gave something and he really didn't,

and larry kudlow, the great larry kudlow, much more of you in the next few hours. >> thank you. >> and i'll see you on wednesday -- >> thursday. >> yeah, big conference. yeah, hang out. >> you get a big discount. >> and larry has a new book out looking forward to that. >> thank you, walter. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> good monday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. one day until the election. futures are sharply higher on news over the weekend. james comey telling congress there is no change to the fbi's conclusion regarding hillary clinton. europe with some gains of its own economical dar pretty light today. most news obviously going to be overshadowed by politics. as we said, stocks around the globe rallying after fbi director james comey's comments. the s&p looks to break a nine-session losing streak. jim, i've been looking for corporate news, micro stuff, that's just not going to pop today. >> no, look, mgm is going to have a good number, but i do

larry kudlow of the trump campaign senior economic adviser described one possible approach on our air yesterday. let's take a listen. >> i think the issue on obamacare is you've just got to get rid of the mandates because the insurance costs are too high. i think you have to make the exchanges work. you're going to have to figure some way to help the insurance companies get out of this. the house republicans do not want to bail out the insurance companies, i think they're light, but they're going to have to figure out some way to get them through this transition. >> joining me now is forbes opinion editor obrich roy, also a former advisory to the romney 2012 campaign on healthcare. thanks for joining me. >> alex, how are you? >> immigrate. thanks. let's break this down right now. can the affordable care act really survive without the mandates? >> yeah, absolutely. i wrote a pie for forbes about this this morning explaining how donald trump is actually getting a bad rap on some of these pledges that he has been making about certain features of obamacare that he's not opposed to, like p

place, particularly from paul ryan, from steve moore one of the economic advisers in art laffer and larry kudlow, there is good agreement on the republicans who control the house and the senate and the presidency on how to lower corporate taxes. how to cut marginal rates, and then you also have the other thing which is regulations. again, strong agreement from the republicans on getting rid of parts of dodd-frank and maybe some of the environmental regulations. here's the thing, liz, why the market is up and what you hear from traders. they need no buy-in from the democrats. if you want to pass corporate tax reform right now. you want to lower tax, cut regulations, you can do it without having to give senator elizabeth warren a dime or any say. that's the thing hanging over the markets, the republicans lost the senate, if they lost the senate, as a member of the banking committee, it would have been sharon brown, you know she would have had a lot of stroke on pochlts she has no stroke on policy. she is out of policy making equation and if you notice, bank stocks are all up today, and that

but larry kudlow begs to differ. that debate is coming up. >> momentarily. >>> and jpmorgan is paying more than $200 million to settle bribery charges over his hiring practices in china. those details and whether the case is officially closed also coming up. >>> plus, air b&b is expanding beyond just lodging, looking now to offer full experiences. could that cause more issues with local governments? the company's head of global policy will join us coming up in a first on cnbc. >> but let's start with who is coming and going at trump tower today, to see the president-elect. susan li has been tracking the action there on fifth avenue in new york city. susan? >> reporter: yeah, bill, there's a lot of action down here. a whole list of visitors today. some speculated to be possibly for cabinet positions in donald trump's new administration. now, some we did see entering trump tower. some with a little bit more stealth. we did see congressman jeb hensarling entering the building and we spoke to him after his discussions wi

. >> to borrow a phrase from larry kudlow, won't this be the mother's milk for gains in the stock market? >> so the question is, does this ultimately filter through to stronger corporate profits? i would say maybe. it's not bad. i'm not saying it's bad for corporate profits, but again, you have to wonder what corporation you're talking about. talking about multinationals that might have a dollar headwind that might see some slower growth elsewhere or are you talking u.s. stocks, u.s.-centric names? for me, i would focus on the u.s.-centric names. i think this kind of turbo-charged narrative out there -- because we had that big you've orric run and could have seen a pullback here. now this is new information coming out there. so now you train the market to expect this new information going into january. after that, we'll see. for now, things -- why get in front of a freight train? >> if you are talking about repatriation and taxing is a huge thing. if you bring back all of the cash, history tells us the last time we had a repatriation, it didn't go back to jobs here the in united states.

larry kudlow, one of the people working on that, would be a great person in any capacity at omb. steve moore who has also been working on tax reform over the years and worked directly with trump. all these people, i think, come highly recommended. and the people he's been talking about for other parts of the economy, i think quite good. >> from -- >>> c-span's "washington journal," live every day with news and policy issues that impact you. coming up wednesday morning, democratic steering and policy committee vice chair congressman eric swalwell talks about the democratic agenda in the next ng

if you hear his mantra, about getting growth back to the there is also nd i've heard larry kudlow and moore, they make morale cause for growth. what it does for people, what it oes for the economy, the choices it gives you, economic growth isn't just about raising numbers, it's about giving a choice on what you can do with you kids for school, what can do where you buy a house, what you do for vacation. come hing necessary life from economic growth. host: stephen moore will be here this program.on from pennsylvania, democrats line, go ahead, thank you for calling. caller: good morning. i watch c-span everyday. fracking in t pennsylvania and taxes on the never got a penny out of that got ly people benefit from the fracking was $8 ernor corbet, who got million toward his campaign. oil, who are making profit. texas,ackers went back to the people that leased out land are getting billed for roads put on their property taxes, governor 5%, he supposed to get pledged when running for office, i don't hear anything about axes coming out of the oil wells or pipelines. like a ines are sort of one

>> if we don't see the types of policies that i see as pro growth that larry kudlow has been talking about time and time again, if we don't see that in this with both houses of congress. it could be a monster bull run. >> we'll mention that in months, not years. thanks to you, michael and steve. >>> we do have red arrows across the board. the s&p is down 4 1/2 and the nasdaq down 11. >> a former acting attorney general under george herbert walker bush gives us his reaction to jeff sessions to the post. >>> also ahead the fake news backlash may unleash a change in media ownership rules. priming shares is of old media stocks for more gains. a traditional media analyst will weigh in on which companies could be consolidation candidates. >>> welcome back. take a look at shares of some of our favorite 90s retailers. abercrombie & fitch down. and gap down 15%. as of late yesterday gap reported earnings. imagine its preannouncement numbers as gross margin improve. but traffic continued to deteriorate into november and analysts say margin pressures into the first half of next year due to inve

given that we can't conjure up any inflation around the world, lot of republicans even larry kudlow said this may not be the time to be a deficit hawk. this may not be the time. let's cut taxes and increase spending at the same time. maybe interest rates go up to 5% or 6% but maybe you get 4% or 5% growth in the process and normal republicans suddenly went aweeklong it. >> that's one side of it. if we get that, that's great news for stocks but not bonds. there's another side to donald trump s he going to shut the board irs when it cams to trade? >> he's never said that. you're kind of like a never trump -- >> when he said closing the border, he meant down there. >> i'm exaggerating. >> you are. >> i think what i heard him say was i don't like our trade deals. >> right. >> look. we may not have the best trade deals in the world, but we have benefitted from every trade deals that been signed. maybe others have benefitted more, i get that. but the question is which donald will show up, the promarket which we love or anti--- >> prognosticate about what if you're in this audience and you owni

kudlow. that's a harder one for me. two neil cavuto may be. neil: let me ask you whatever happened to chris christie? he was very loyal very early on, back in a former competitor it looks like he is going to come up. >> it's unfortunate because of the bridge gate scandal. listen, i think president-elect trump as loyal to him. he didn't throw out about the transition team. the bridge gate scandal is problematic. the last thing you want is someone in front of the microphone every day having to answer about bridge gate. >> is there been offered any post? attorney general said he presumably wanted. >> the guidance i was given early on is that depending on how bad the fallout from bridge gate with the comment that type of how fairly high-level appointment is off the table. i think we'll have to wait and see. seeing how this plays out everyone know what he would get. if he does get attorney general, i think there is a perception issue they are waiting right now. kind of scary for him, his name has

as far as treasury secretary, i would hoist up larry kudlow's name. >> you're very kind, jeff, i appreciate that. >> what about state, larry? there are a lot of people who see this as probably the strongest signal yet about which way his administration might go when it comes to the way we should discount the risk of international volatility. >> well, i don't know, kelly. this is a diplomatic post, it's a very important job. according to reports, i have -- lord knows i have no inner information. it's between rudy giuliani and governor mitt romney. i have no idea. they're both good men. mitt was pretty tough on trump during the campaign. i think if romney were appointed, mr. trump would have some trouble with his base. having said that, i would probably personally lean toward rudy giuliani because i think he's a strong, tough guy. the treasury job is very important. you've got issues here. treasury has the play on the dollar. that's very important. treasury will be involved in trade matters. that's going to be a very important issue. the treasury will be involved in dodd-frank regulatory matt

joining us now larry kudlow and informal adviser to the trump campaign. there is distance when it comes to the economics of how this is all going to work out. you heard what trump says about the jobs report. how do you think it feeds into the outcome? >> i think you look at the economy right now we are adding jobs. we have seen acceleration in wage gains. that is great especially those are nominal numbers. very low inflation. this is basically a gold locks economy. you look at president obama's approval ratings sometimes bump up 53, 54. to me this would be surprising given a goldilocks economy, obama approval rating if people seem to make radical turn towards upending the political order fwlmpt a order. >> what about the point about the work force? >> i think under the trump scenario he would like to take a labor force participation rate back to where it was like in the 1970s. we have a very different economy. we have an aging economy. we have people in school. i think you can not just look at labor force participation rate. what was it before the recessi

larry kudlow. wilbur ross. and peter navarro. of that list, who do you like? >> that is a dream team list when you lay it out. atorked with stephen moore freedom works but the other gentleman, these are all pro growth folks. they take a look at the economy and they will know what it takes to break out of this economic stagnation that we have. and that is one of the things that gets me excited. we really have an opportunity right now to get growth back. >> welcome

the supply side, larry kudlow with come forward and say there is a magical element to this that if you lower taxes, you create this incentive to invest. i think we all agree and you can write in and say nasty things if you want, that no matter what, they don't pay for themselves. they can create more growth, but, yet, i would not be so quick to say tax cuts don't don't pay for themselves. there is an upper limit now on how much deficit spending we can do. i think that the democrats agreed there was more room here. the republicans will suddenly become deficit doves as we all change sides because of this election. that's what's going to happen. and we'll see. >> the move we have seen already in the bond mark it et is tacke. >> the gop which decompromised ke keynesian economics -- >> they used to joke, republican deficit good, democratic deficit bad. and didn't matter how you get there. >> i will say right now, i look at the numbers earlier today, interest as percent of the total budge set budget is 6%. there is scope for that to be higher. japan runs a debt to gdp ratio of 210%. okay. th

jim: steve moore, larry kudlow, these guys have been around. i'm not saying that is the inner cabinet. a former goldman sachs senior partner, these are very seasoned people. they tend not to be ideological. they tend to be practical. sharon: a lot of people would say -- you are bringing back in many of the people who were disproven by the academic community a long time ago. they would have a very strong ,oncern about that being where who is going to be guiding the economy. jim: academic economists have been wrong about everything for eight years. sure who has not gotten it right the last eight years. give me one person who has got it absolutely right who is in charge of making policies. jim: no one in charge of making policies. we are still in the currency wars. my -- francine: but you are not in charge of policy. jim: exactly right. but there are voices out there. i'm not the only one criticizing this. it is a club. m.i.t., harvard, fine universities, but that is the thinking that has been wrong. it is empirical. [indiscernible] francine: is t

. >> in fact last night was on the radio with larry kudlow and bachelor and other people say this is so unfair. yes, he presided over the organization, breitbart, which very often carried hateful and racist sort of materials, but he personally is not inclined in that direction. not anti-semitic or racist. give him a chance and hear what he has to say as opposed to breitbart. liz: we have reached out to steve bannon and to hear him denounce that. ashley: in marion county to tell you about. two engines and cars were overturning. the dow, 13th record close for the year. 19k for your money, the closing bell is next. >> opening bell is going to be ringing in just about 25 seconds. where do we go from here? we're close to the 19,000 mark. we have a big reading on oil a little later on in the next hour. and that could have an impact on the market as well. but ever since donald trump has won the presidential election, the markets have been moving higher and higher. the bell is ringing and we're expecting to finish-- we'll start, i should say and i want to close this market before it opens. w

larry kudlow. >> the thing to watch on fiscal policy is europe. you have the same antiestablishment move there however, it does not, however, come with the fiscal stimulus and tax reduction policy. that is something to watch. >> they've been talking structural reforms for 20 years and they need -- someone's got to hold their feet to the fire. >> and the populist parties in europe are not in like the mainstream party tickets like in the u.s. >> as michelle pointed out yesterday, she wants all this free market stuff but where should the capital be. she said both. it's in their dna over there. we got to go. okay. relax. >>> coming up, it's the most wonderful -- i could almost sing it. but he's going to sing it. one of the busiest shopping times of the year, we're going to do stock shopping. as we head to break, here's a look at yesterday's top dow performers. "squawk box" will be right back. >>> welcome back to "squawk box." check out the futures which have been day after day seems to go above what we're really thinking is warranted. or at least that

and steve moore if they get good jobs a great country for snurts acenturies. >> i hope larry kudlow gets the job most qualified in the world loifl to trump all the stay steve moore spectacular beyond spectacular i am so happy sitting here old man watching washington seeing future unfold really exciting. >> really exciting steve moore came with us last week said he thinks growth could triple from where it is right now 1 1/2, 2%? what -- >> he has been very modest on that yogurt annual base quarters 6, 7, 8, 9% they have the same thing under kennedy, there is no limit to how -- how well this really balanced damaged economy can perform if right policies are put into place. >> how worried the deficit goes higher before it comes back down. >> there is no way it can't go higher before it starts coming down, you've got to refub bish capital stock cut tax rates increase zbroeth repolish imprimatur all of that means that we have to run deficits for a while, just the way we did under reagan once that happens, you cannot solve the debt problem in america without economic growth. >> all right.

my old partner from larry kudlow used to talk about king dollar, it was something we didn't like for a while when it came to earnings translations but i think we should start liking by the fact the rest of the world must be jealous about the kind of growth we're going to have next year. that's what it's about. it's about a belief. >> earlier, we can't return to a former time but i was thinking, wow, what if our domestic economy was really consumers making things, we were doing things and where it became less important, you know, whether the dollar was strong. because it was strong because we're doing stuff here, we're consuming stuff here. can we ever do that again? or the genie's out of the bottle. >> i don't know. my friend jim stewart had a piece this morning on the cover of "new york times," by the way "new york times" not necessarily failing. just put that on the record. about what could happen. about what we could build. about the next hoover dams, about the things that could happen in this country. you wouldn't be caring about the dollar. you would just be caring about how man

if you hear his mantra, about getting growth back to the there is also nd i've heard larry kudlow and moore, they make morale cause for growth. what it does for people, what it oes for the economy, the choices it gives you, economic growth isn't just about raising numbers, it's about giving a choice on what you can do with you kids for school, what can do where you buy a house, what you do for vacation. come hing necessary life from economic growth. host: stephen moore will be here this program.on from pennsylvania, democrats line, go ahead, thank you for calling. caller: good morning. i watch c-span everyday. fracking in t pennsylvania and taxes on the never got a penny out of that got ly people benefit from the fracking was $8 ernor corbet, who got million toward his campaign. oil, who are making profit. texas,ackers went back to the people that leased out land are getting billed for roads put on their property taxes, governor 5%, he supposed to get pledged when running for office, i don't hear anything about axes coming out of the oil wells or pipelines. like a ines are sort of one

is it -- even larry kudlow and others are -- even david malpis will say if we near-term get above 1.25%, we'll have more ability to tackle medicare and social security and everything else. is that okay with you? >> we need a comprehensive and innovative plan that will be implemented in installments that will help grow the economy, but at the same time we have to, within the next several years, we have to do something to deal with mandatory spending. 68% of spending in the federal budget is on autopilot. has no controls. that's social security, medicare, medicaid, agricultural subsidies, interest on the debt. we ultimately have to restructure those sustainable, secure. you can't solve the problem with growth. grow growth -- a lot of it gets invol solved. also a new four letter word in politics, it's called math. >> don't kid yourself. >> you say we need a comprehensive plan that gets passed in installments. that's sort of an oxymoron. what needs to be done first? >> there are things you can do right off to help with revenues and expenses. repa repatriation, a few items we could do quickl

>> my good friend larry kudlow said a year ago the only way the fed can get out and not destabilize markets is if real rates rise and the fed follows the forwards. that's what we're seeing. >> when the market does it for them. >> yeah. the markets are reacting on growth. if break-even inflation rates rise, the fed follows higher real rates in anticipation of growth. you are not looking at it disintegrate with higher yields. >> we've seen the correlation in changes between rates has been positive. that's the point joe is making, why are rates rising? the growth outlook looks better. >> which joe? >> this joe. >> this joe. >> i wore the glasses for you today. you didn't say anything. >> but i think the risk, you hear so many people talking about the equity risk premium, what happens if that premium gets compressed, right now it's around 4%. it still looks attractive and it looks like there's opportunities. >> i drill down at the individual level. for years i said why on earth would you buy a ten-year yielding a little more than 1% when you can buy a stock yielding maybe double or triple that

larry kudlow, one of the people working on that, would be a great person in any capacity at omb. steve moore who has also been working on tax reform over the years and worked directly with trump. all these people, i think, come highly recommended. and the people he's been talking about for other parts of the economy, i think quite good. >> from -- >>> c-span's "washington journal," live every day with news and policy issues that impact you. coming up wednesday morning, democratic steering and policy committee vice chair congressman eric swalwell talks about the democratic agenda in the next congress and political messaging and strategy. then intelligence committee member congressman chris stewart on president-elect trump's emerging national security team. and foreign policy challenges. and new york magazine's select all senior editor max reed on his article "fake news" and whether the internet is a reliable tool for furthering democracy. be sure to watch c-span's "washington journal" live at 7:00 a.m. eastern on c-span. join the discussion. >>> tonight, a look at how food is mark