Rick Scott: The Upcoming Mid-terms

0:00This is Crypto Bell Live, where you get all the cutting-edge information. On investing, plus how it affects your portfolio, we sat down for an informative interview with Anthony Scaremucci. If gold is $25 trillion asset could Bitcoin get to 12 trillion, which would be a 10x from where it is today, I do believe it. That's possible. To learn more, join the community and subscribe Crypto Bell dot live. That's Crypto Bell dot live. From Wall Street to the White House, this is the Larry Cutlow Show. So more on the issue of the economic boom and how to market this for the midterm elections, which I think could be done a lot better than it's been done. There's an opportunity to do it at the midterm convention in Dallas this coming week, but let's talk to distinguished Senator Rick Scott from the great state of Florida.

1:06Senator Scott, welcome. We are in a jobs boom. We are in a factory comeback. We're in a construction comeback. We're in an economic boom across the board, a stock market boom, a profits boom. The question is, though, where's the messaging? It should be the most important factor in the midterm elections. We have the money. We have the message, but we don't have the sales pitch. That's what I'm asking about. Well, Larry, I agree with you. I think the most important thing every family in this country is the economy. I mean, everybody I know wants to be independent. They don't want to be dependent on government. They want to have a great paying job. And you look at what Trump's done. I mean, what he's done to this economy, this is the second time. He had a great economy as first term, but 162,000 new jobs in one month is unbelievable. Look at the capital investment in this country.

2:07So it's, I mean, we are the, like you said, we're the hottest country in the world right now, but we've got to go tell people. I mean, why people, why are people going to vote for us? If we don't explain the different things, here's what capitalism does. Here's what socialism does. Socialism takes away all your freedoms. You're not going to get anything. You're not going to have a great paying job. Your kids are not going to get great education. You're going to have crappy health care. Only in capitalism do we have opportunity. And that's what we got to be talking about every day. I mean, it's sort of this whole story, this economic comeback story. I call it the greatest story never told because it's not being marketed. I mean, the senators should be talking about, I know, I know you do. I mean, there's a handful of really good senators. But the message, I look, there's other things going on, you know, the socialist want to open borders in 13th Supreme Court Chess's. But the economic boom is central. I mean, what's going to happen at this Dallas midterm convention? Because the economic boom should be, everyone should be leading with that.

3:10You can attack communism. I get it. You can attack socialism. You can attack the cost of wealth, Medicare for all, cost a hundred trillion dollars. I get it. But the economic boom, you know, wages are up 4.3 percent, according to the numbers yesterday in the jobs before. That's even better than the 3.4 percent CPI, you know, which is temporary because of gasoline. This has to get out senators, Scott. I agree. What we've got to do with this convention is we've got to have normal people talk about how their lives have been improved because of what Trump has done. But he's done to fix his economy. We're going to get people the opportunity to build their businesses to have a great paying job. And that's what we ought to be talking about. And that's where to be speaking to this convention. We're going to be having normal people talk about how Donald Trump, his actions and his administration has really changed their lives. That's how you win elections. We've got to tell people how we're going to change their lives. And if we're not, don't elect us. But we can keep talking about how bad socialism is.

4:11But we have a proof that capitalism works. And that's what's going on in this country right now. Right. We don't, you know, free enterprises producing the goods. We don't need socialism. We don't need communism. Free enterprises producing the goods. Just take a look at what's happened with these numbers. I mean, it's a boom. So let me ask you, are you going to speak at this thing? Senator Scott, we're still working on that. Another person said he wouldn't be to speak, but we're still working on what this schedule is going to be like. You've got to speak. I plan on being there, but we'll see what happens. You need to speak. People need to see you hear your message. You're one of the most effective guys there is. Let me ask you something. You wrote a great piece. I don't know, a week or two ago. On the dollar. Dollar has to remain the world's reserve currency. It's essential. Imagine another interesting important message, at least for financial markets. And the reason I want to raise that, first of all, I want to hear what you have to say about why the dollar should be the words reserve currency. But when he was a senator,

5:11this just came out a week ago. JD Van said that the dollar shouldn't be the reserve currency. It makes us too cheap to buy consumer goods around the world. I don't know what he was thinking. It's one of many misstatements that he's made. But you're saying no, no, the dollar should be the world's reserve currency. Oh, gosh. We have to be the reserve currency. If you want to continue to build the economy, if you want to have control over your destiny, if you don't want to have some other country like communist China control, got a control of the economic system of the world, we have to be the reserve currency. Now, it's going to keep interest rates lower, which is great for us. It's going to keep our goods lower, which is great for us. But one thing Congress has got to do to keep the reserve currency, we've got to get to a balanced budget. The president's going to do everything he can, but we are the ones who pass the budget. We've got to balance the budget and stop wasting money, get rid of the fraud and abuse, make sure we invest the dollars where we're going to get a return for the taxpayers of this country. I did it as governor at balance the budget every year for eight years.

6:11We dramatically increased the job market. We'd be at the rest of the country on wage growth. All these things happen because we balance the budget and we are the reserve currency. We have to be the reserve currency. Because there's so much influence in the world. I don't hear, honestly, I don't hear the Senate leadership talk about a balanced budget. In fact, you know, this whole business about a reconciliation bill, a budget bill. I don't hear them talking about tax cuts, indexing capital gains, raising the exemption for capital gains. If you sell a home, I don't hear him talking about waste fraud and abuse. I don't hear him talking about cutting the budget as your suggest balanced budget. I don't hear any of that from the Senate leadership. We have to do it. Now, Ron Johnson is now the budget chair as a result of a losing Lindsey Graham. Ron is absolutely committed. The balance of budget is absolutely committed to make.

7:12When we're going to spend money, we're going to pay for it. We're going to figure out every way we can reduce taxes to get money back into people's pockets to keep kids' economy going. So now, it takes 50 of us plus shady events to pass a reconciliation bill. I can tell you, Ron Johnson is absolutely committed to having a reconciliation bill that is physically responsible and moves us to a balanced budget. So I agree. I think Ron Johnson's fabulous. He's an old friend of mine, a personal friend of mine. I absolutely agree. When you all adjourned a couple of weeks ago for the recess, it seemed like it was just chaos in our sky. I guess my question is, you come back, what's going to happen? What should we look forward to? Because again, you've got this midterm convention and you've got the midterm elections, and you've got the message, and you've got the money, but the sales pitch doesn't seem to be there. I know legislation may not get through, but if you message this stuff, you know, tax cuts, more money in people's pockets,

8:14bouncing the budget, ending waste fraud and corruption, if you message it, right? It's just as good. I mean, the legislation could come later. Oh, we can get it. Larry, actually, we can get a lot of stuff done because through reconciliation, we can deal with fraud and abuse. We can deal with all the wasteful spending. So we actually have the opportunity to do those things through reconciliation. I need to tell you, I've been talking around Johnson about it. He's committed, the House is committed to doing it. Now, we've got to get 50 of us. 50, it only takes 50 republic consumers to vote for this stuff. 50 of us have to come together and say, we are going to act physically responsible and want to save your money. But on top of that, help rebuild, help do what Trump's doing to rebuild this economy. So I'm actually optimistic. I'm up to optimistic, we're having votes on the Save America Act on how we can get election security done. We can't get it bill passed by itself. We're going to get it, we're going to see if we can get it done through. There's an insider trading bill that the House attached, ID, election security,

9:14our apartment for an ID. We possibly get some things done through the reconciliation. So, balance the budget. You know, make sure elections are secure. Continue to make sure we support the Trump agenda. I've given her the fraud, securing the border, reducing taxes. I mean, if you look and think about what we did with the big beautiful bill of the tax reductions, but we can do more, we have to keep doing more. We was fabulous. The one big beautiful bill was terrific. And in fact, about a year later, you see this economic boom coming. You know, 100% depreciation, the bonus depreciation center, you're a businessman in private life. That may be the single most important thing we've done. And that's what's causing this boom in capital spending, you know, CapEx, machinery, equipment, data centers, construction, and the jobs are, I mean, it's fabulous, but you got to talk it up. You got to talk it up. We're talking to Senator Rick Scott, everybody. One of the best conservative voices in the Senate. Senator, you got some more time.

10:14I got to take a commercial break and come back. I asked some more things for you. Fabulous. Okay. Senator Rick Scott, I'm Cudlow. We're going to take a quick break and we'll come right back. From Wall Street to the White House, this is the Larry Cudlow Show. And we're talking with one of the great conservative voices in the U.S. Senate, Senator Rick Scott from Florida. Very important. Senator Scott, thank you for extending this. I want to look at the Iran War. There's some interesting headlines this morning. In the Wall Street Journal front page, time is the most important thing time is no longer on Iran's side in the Battle of the Blockades. The U.S. is helping Gulf States move significant amounts of oil out of the region while thwarting Taron's shipments. And then the New York Post is with great detail.

11:16We've closed down the U.S. Treasury has closed down this bank in Turkey that was funneling Chinese money to the Revolutionary Guard, the Islamic Revolutionary Guard. But they've shut them down now. And then the other headline, rogue government is running on fumes. Iran is reportedly facing an economic disaster as their fuel reserves have dwindled to a poultry two months supply, following months of punishing U.S. bombing. It just seems like we've got them by the short hairs here. We've bombed the military now. We're bombing them in economics. I interviewed Scott Besson in front of the G20 earlier this week down in North Carolina. I think the tide is turning center Scott. Oh, absolutely. But you really have to mire Donald Trump. Number one is he did what no president would do before him. He said they will not have any nuclear weapon. They will not have a nuclear weapon.

12:18Now, you know, maybe it's very difficult to see a regime change, but guess what? Well, Donald Trump is president. They are not going to have the resources to continue to attack Americans. We've destroyed them militarily, and we're going to destroy their economy. So if you don't ever bet against Donald Trump, this guy will do everything he can to protect Americans. That's exactly what he's doing now. So I'm very proud that he's the president. Because he's the one who said they will not have a nuclear weapon. He didn't appease anybody. He said we are going to make sure that they don't have a nuclear weapon. Now, is it easy? No, it's hard. What he's trying to do is really, really, really hard, but he's actually doing it. Looks like he's gaining on it. I'm very optimistic. Yeah, it looks like he's gaining on it, Center Scott. And you know, I mean, don't bet against him and don't bet against what Besson is doing. Those guys are smart, and they're going to make sure they don't have the resources

13:18to continue to attack Americans. Yeah, you know, I spent about 45 minutes interviewing Scott Besson. A very good friend of mine at the G20 in front of the whole conference. We talked about two things, Center Scott. One is the economic boom. And second is how he's shutting off money to Iran. Now, like yourself, I am a supporter of President Trump and his efforts to end the nuclear developments in Iran. I support him completely. Everybody winds, winds about the gasoline price over $4.00 a gallon. I mean, maybe it'll come down to get West Texas down. Close to 90 bucks now. They're saying, you know, Chris Tata, the Energy Secretary is saying we're getting, I don't know, 16, 17 million barrels through. That should bring the price down. How much is gasoline going to matter in the election? I mean, what do you say about that?

14:19Well, look, I always think that, I always think the cost of living is really important. When I was governor of Florida, I focused on jobs, education, public safety, and the cost of living. So I think it's important. But guess what? We've got to tell people the story. We're saving their lives. If Iran had a nuclear weapon, then no American in the United States was ever going to be safe. And so, and if we want prices to come down, it's Trump is doing everything he can. Congress has got to do their problem. Congress has to balance the budget. And by the way, the Democrats, when they were in power, they wanted to drive gas prices up so they destroyed their own gas industry, because they hate cheap gas. So, Donald Trump is doing everything he can. He looked at the things he's doing in Venezuela. He looked at the, when he's done straight, her moves. All these things, he's doing everything he can. Congress has got to do its part. Balance the budget. And inflation will come down. You know, you're so right. The Democrats love high gasoline prices, because they're trying to end fossil fuels and put it out of reach, ordinary people and truck drivers and whatnot.

15:20You're exactly, it's a very good point. So, let me ask you a political question. That President Trump has said, pretend I'm on the ballot. Pretend I'm on. And the aim here, I think, is to get the low, the low intensity, the low propensity to vote voters out. To get the mega base out, is that the right approach to pretend I'm on the ballot? Well, I think, I look, his agenda is on the ballot. I mean, it's a choice. Do you want Donald Trump agenda, or do you want Kamala Harris? Or do you want, or do you want Mandami's agenda? That's what's on the ballot. Do you want open borders? Do you want socialism? Do you want, you're a crappy economy? All right, so, look at what this President said. Every issue, right? Whether it's education, whether it's economy, whether it's health care, he is doing things that we all believe in. So, he is on the ballot. His agenda is on the ballot. And so, we have to go one, defend what he is doing because he's bussinessed by every day. I don't know anybody who works harder than he does. All right? And then, let's go vote as if he, it's a choice.

16:23Do you want, do you want Mandami? Or do you want Trump? That's the choice. Yeah, I know. That's a great point. Ted Cruz made the same point, Senator. He said, same. Mandami is the poster child for the Democratic Party and the socialist takeover of the Democratic. By the way, are you pals with Ted Cruz? Yeah, I know. Ted Cruz is a great speaker, by the way. He's one of the best speakers on the Senate floor. You think you should run for President? I think I think I'm well, for a colleague who's running, I can't imagine he's not running for President here and before. Yeah. And I look, I think I think 28 is going to be, we're going to have a lot of people run for President and what's going to happen is going to come down to who's got the right message for who's going to help, in my opinion, the message is going to be who is going to help the poor in the middle class get ahead financially. That's what the message, that's who's going to win in the next person. If the Democrats, if the Democrats can sell their message, which I don't think they can, they'll win. Whoever can sell the best on our side, that's who we are nominee.

17:24You need to speak at this midterm convention, Senator Scott. Okay, I'm urging you to get up there. I want people to see you. I want people to want to see what happens. I want them to see you. I want them to hear your message. You're one of the great conservative voices in the Senate. You need to speak there. I'm telling you, it's very important. Well, I hope that the President has invited me. So I'm going to tell him, I'm going to tell him, I'm going to, I'm going to, when I talk to him, I'm going to tell him, I'm going to put in a word for you if you don't mind. Thank you. All right, we'll leave. The Senator Rick Scott, always available. Your terrific stuff, always accessible, tremendous messaging. We appreciate it very much. Folks, I'm Cudlow and we will take a break and be back in just a little bit.