Paul welcome to the journal editorial report. President biden and donald trump secure the delegates needed to clinch their partys nomination setting the stage for the first president ial rematch since 1956, most americans dont want that. Following the state of the Union AddressPresident Biden has been barnstorming battleground states in pennsylvania, georgia, wisconsin, and michigan which were crucial to his victory but polls show the president narrowly trailing donald trump in those states which can he turn that around as the general Election Campaign kicks off . Lets go to doug showing. The initial polling after the State Of The Union suggests the president has not received a bump in his Approval Rating despite the fact so Many Democrats love that speech. Are you surprised . Not surprised. The speech was directed almost exclusively at democrats and to show that his cognitive issues as described by Special Counsel and others are not an issue. He wasnt really trying to change his Approval Rating is much as he was trying to buttress his support with core constituents. Paul democrats you would assume would rally for him anyway. What alternative did they have at this stage. He you would think the president would have tried to target in that speech nikki haley voters or independent voters, people he needs to pull away from donald trump. Why do you think the administration decided to do what it did . Good question. In the State Of The Union in 96, and thereafter, President Biden and his advisers have a unique problem, 65 say they want someone else to run other than the incumbent. There was a feeling among the Biden Hierarchy that they needed to reassure core supporters in a way that every incumbent president doesnt have to do in his or her reElection Campaign. Paul he needs to reach out and get haley voters at independents, hes doing that by going to the swing states, in wisconsin, georgia as well but those states are where the election is going to be decided. Why is the president trailing in those states . Doug hes trailing because of inflation, which in the Northern Industrial states has taken a toll on working people, the swing voters you are alluding to particularly independents and suburbanites. And convinced people they are economic, social and Criminal Law Problems with the the southern border. I think President Biden by dint of his Policy Initiatives and his campaigning is trying to reassure his core supporters and some swing voters if he can, that he is sensitive to their concerns about immigration, though on inflation i think he has a long way to go to make the case he understands the difficulty and challenges working people are facing. Paul he seems to think he can blame republicans for blowing up the bipartisan deal in the senate put together. Never got a vote in the house. Do you think thats going to be a strategy he can drive to the election . Trump is saying you own immigration, the white house seems to think this jujitsu will work. I dont think it will work. If i were advising President Biden i would tell him to do Executive Orders to tighten up the asylum process, tighten up the Immigration Process to the extent the law allows to build more fencing to demonstrate graphically the commitment. The president in the absence of that wont when the Immigration Issue which from the polling i have seen suggests its one of the weakest, if not weakest issue the president has going forward. Paul Donald Trumps favorable ratings, hes not above 50 but he is as high as he has ever been. How do you explain that . I think theres a sense that he is among many being persecuted with the multiple prosecutions, civil lawsuits, also, he managed to be more disciplined in his rhetoric, his speech after supertuesday was more accommodating than hes been in the past. Given that the president s own approval is down 39 , 40 , there is a desire among many swing voters to have a credible alternative and for trump to be that alternative he has to be more appealing personally, something his Campaign Team is working with to accomplish. Paul if he can keep that contained and history suggests he probably cant. Thanks for coming in. Still ahead, President Biden unveils a 7. 3 trillion Election Year budget. Our panel on what it tells us about his priorities and plans for a second term. Its fineeeeeeee [splash] before advil Advil Dual Action fights pain two ways. Advil targets pain at the source, acetaminophen blocks pain signals. Advil dual action. Theres Nothing Better than a subway series footlong. 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Order today at wt. Com paul President Biden unveiled his 7. 3 trillion budget for fiscal 25. And Election Year wish list that heralds priority for second term including 5 trillion in tax increases but a mere 1 in Defense Spending which amounts to a cut after inflation. Lets bring in dan heninger, and alisha finley. Dan, what did we learn about bidens second term priorities . President biden in the democrats, this is important to me, will not rebuild us defense capacity. 1 increase is a cut after inflation. Has been true for the last several years with the democrats and their priorities are on domestic spending. We are talking about a Spending Package of 7 trillion and the democrats, now that they are the party of bernie sanders, from the time of the primaries in 2016 are going to focus on domestic spending and will not make the commitment necessary for the United States to position itself in a world that we know is extraordinarily volatile, The Middle East, china, Vladimir Putin and russia. Its not a normal peacetime era and we need to address the Defense Structure and the democrats wont do that. Paul youve got the war in ukraine, China Building a new navy and defenses in The Middle East and maybe Iran Goes Nuclear and yet it is like nothing changed in the president s budget. Classic populism. He you wants to spend on domestic issues but he is ignoring, one of the big glaring problems, they dont have enough money to pay people what they need to pay them and there are other Big Technology problems like satellite vulnerability. You go from boots on the ground to hightech stuff and hes not willing to pay up for any of it and that is a problem for our role in the world. Paul what about the taxes . Mary what makes me laugh about the taxes in the budget which is Classic Populism tax the rich is he looks at this as static. He has a wealth tax, he will increase tax on 1000 billionaires he has identified. He acts as though people are not going to behave differently. He has a very static analysis of how the economy responds and the other thing thats depressing, to see a president with this kind of experience not recognize that corporations dont pay taxes, people pay taxes so the likelihood that a lot of these taxes will be passed on to consumers is high. Paul the details on the taxes, 28 rate he wants for Corporate Income tax up from 21 and an increase in Capital Gains tax in terms of capital, could go up to 50 or close to it. Mary it goes to those paying, in california, under New York State tax, some people could be playing up to 60 . He extended the medicare payroll tax 3. 8 obamacare and initiated, he increases to 5 and Small Businesses paying a top rate of 37 . They are paying 44. 6 and he reduces brackets, kicking at 400,000 instead of 690. Paul not that anyone under 400,000 will get a tax increase but thats not index for inflation. Mary those who earn 200,000 would experience a tax increase. Paul this is a big deal, this taxing issue. The 2017 Income Tax Rates expire for in 2025. President biden reversed trump. He brought taxes, the corporate tax, repatriated hundreds of billions in overseas profits, did that on the expectation of taxing a lower rate. This will create pressure once again for corporations that find a way to get out from under that. Individuals, not so easy. Corporations can find a way. Paul he couldnt passes this. He is banking on a big electoral suite. Thank you all. Special counsel robert hur takes a beating from republicans and democrats about the documents probe. Prosecutor fans about i will us. Mucinex instasoothe sore throat medicated drops. Uniquely formulated for rapid relief that lasts and lasts. Thats my babyyy ow get mucinex instasoothe. Its comeback season. But st. Jude has gotten us through it. St. Jude is hope for every child diagnosed with cancer because the research is being shared all over the world. My name is dana bellefeuille, and my husband and i own the village bakery located in hayden, idaho. Our mission is to employ people with different abilities. Tiktok is allowing us to show what acceptance looks like on a daytoday basis, here at the bakery. This is a community of just complete and utter love. Its the people that lift you up when youre down. People on tiktok do that on a daily basis, and ive never found a Community Like that, ever. Paul former Special CounselRobert Hur Faced Fire from both sides of the aisle on tuesday as he appeared before the House Judiciary Committee to testify about his investigation into President Bidens handling of classified documents with republicans attacking for his decision not to prosecute the president and democrat slamming him for including comments about mr. Bidens memory in his final report. A move he defended on tuesday. My assessment about the president s memory was necessary, accurate, and fair. Most important, what i wrote is what i believe the evidence shows and what i expect jurors would perceive. I did not sanitize my explanation, nor did i disparage the president unfairly. Paul we are back with dan heninger and bill mcgurn. The democrats tried to beat up hur as a partisan because he mentioned the president s memory. Did they succeed and is it fair . Its not fair. When hur released the report in february they savaged him for bringing that up. The kid pointing out the emperor not wearing any clothes and they hate that because everyone sees it. It is his big weakness. They tried the hank johnson, accused him of wanting a federal judgeshipped from trump and doing his bidding, asked if he was with the federalist society. I dont think it worked. A lot of them concentrated on the parts that were favorable. No criminal charges despite four decades of mishandling classified information and distinctions between trump and bidens case, the smarter ones tried to turn the hearing into a trial on trump, not on biden. It points to a weak spot. Hur didnt make up bidens mental infirmities, he just pointed them out and he had to. Paul once he decided biden had willfully retained documents, which is, landed claim ironed you indicting him . He said i dont think i can get a jury to convict because the president s memory, hes a wellmeaning old guy who cant remember anything. Cant remember enough. He had to do that. What do you make of the republican argument that hur should have indicted . Biden is sitting president , so that would have been difficult for the Department Of Justice to do. Against the rules of the department. The republicans may, to some extent, a credible argument that theres a double standard. President biden has been holding onto classified documents throughout his career. He was reading some of them to his ghostwriter. Donald trump didnt did the same thing, he had the documents in maralago. The key difference is President Biden wouldnt be charged with obstruction of justice, trump is going to be charged on that. Has been. On the question of criminality of taking classified documents, one is as guilty as the other. On the underlying behavior. And exercise of Prosecutorial Discretion on robert hurs part, we hope jack smith would do the same for trump but we are beyond that point. Paul does the handling of these things just from the public mind a wash . It is all the same and this wont be a factor . Dan is right about distinctions. People follow these tales. What they take away is once again trump faces 40 Felony Counts on this, President Biden skates. I think that is going to feed into the narrative this is persecution and maybe another political winfred donald trump plus the fact that hur is pointing to President Bidens obvious weakness, his mental acuity. Paul lets turn to the georgia case, fani will us, the team, and some pretty scathing, scathing language. Is that a good judgment or should she, should the judge have said youve got to step down . You should make the argument he should have told her to step down, but that would destroy the case. He probably wants to leave it up to a jury but what he said about her is extraordinarily unprofessional, poor judgment, unprofessional behavior. The idea that fani willis is going to present a case when her credibility was damaged by that behavior that everyone saw on television, will they be able to form a jury that would be disinterested about this . Its going to be appealed for months and months. It will never come to trial this year. I think the judge though he didnt fire her, pretty much undermined the case. Paul no question some of the issues here would be ripe for appeal assuming fani willis can make a conviction but prosecutions being so tainted politically they will be dismissed by the voters no matter what happened . It was a clown show. Everyone can see it. The special prosecutor, fani willis is so discredited, helping trump in the state cases in new york and georgia, so flimsy and so ridiculous came before the federal cases which are more serious but may undermine it in the public mind. 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Paul the house voted to require breakdance, the Chinese Parent Company of tiktok, to sell the popular apps, the bipartisan 35265 the aggressive lobbying campaign against the legislation that appears to have backfired amid growing concern the current Ownership Structure is a National Security threat. Republican congressman Mike Gallagher after its passage wednesday. Every biden and trump official says under its current Ownership Structure, the threat is too safir but i dont think courting the clicks of 17yearolds should take precedence over allowing our foremost adversary to dominate is becoming the primary news source in under the age of 30. Paul bill mcgurn and alisha finley, tiktok is in fact a National Security threat. Gathered a lot of news outlets, the first issue is data privacy and what bike dance, the chinese owner of tiktok is collecting. Our goal is a us company. The data sent back to china where Bike Dance Engineers can fully algorithms, and the chinese, sparta could have access to it under its own National Security clause. Paul those algorithms, basically would allow the Chinese Communist party to mount political influence campaigns, and sensors certain speech like the hong kong protest. Paul there is a disparity between what appears on instagram and tiktok. Thats the evidence you are referring to. Tiktok is saying this is a violation of free speech. Is that right . Its not a violation of free speech, they are trying to sever ownership, and one of the the chinese on this. Google and metaand china, the same thing was 0. Paul they have been banned. The chinese trail us businessman over there in hong kong. Alisha is right, the idea they could collect all this data and transform it and feed it into the United States, it is soft warfare. Hard to imagine the videos undermine a country like the United States the fact, lobbying congress not to do this shows the potential power of what tiktok could do. Paul politically this is extraordinary, you wont see that these days, opposition came from the democratic left, the squad and others and the republican right though that small group. To what do you attribute the success in this measure . People realize the threat. Chinas involvement screams National Security concerns. Paul easy fbi director. China is involved, institutes and influence schools and universities. This is one part of the effort and people have woken up to that. There is agreement on that. I think people of both parties realizes that. I have to admit i am for the legislation, and suspect, one has tiktok on her iphone again. I know how popular it is. Paul how do you explain Donald Trumps which on this issue. In 2,020 he tried to do the same thing, failed in court but now, it is tiktok. Metapreviously known as facebook which included him and a lot of his followers, his platform which owns instagram, he holds a grudge against metai dont know if it would help, a new Social Media Platforms that comes up now. I saw a report that netflix, 75 more minutes to date to watch videos. Paul biden says that this will help biden get to the right of trump. Most people think of china in terms of the threat in the Union Pacific and as i was saying earlier, neither of them to rebuild. Have to Ask Donald Trump as well. Paul hes not talking about any of that. The Federal Reserve get set to meet next week. Data shows prices rising faster, what it will mean for the Central Banks plans to cut Interest Rates. Ugh. Here, ill take that. Woo hoo ensure max protein, 30 grams protein, 1 gram sugar, 25 vitamins and minerals. And a new fiber blend with a prebiotic. Everyone say space pod meanwhile, at a vrbo. When other Vacation Rentals are just for likes, try one where youll actually like. [ ] did you know turbotax now provides you with a tax expert who will do your taxes from start to finish . Try turbotax live full service. Your full service expert, will do your taxes for you, as soon as today. Plus, theyll only sign and file when they know its 100 correct, and youre getting the best outcome possible. For a tax expert who will do your taxes from start to finish try turbotax live full service. Visit turbotax. Com today. Brand power. Helping you buy better. Paul the Labor Department reported Consumer Prices rose faster than expert in february, 3. 2 from a year earlier while Core Inflation and volatile food and Energy Prices rose 3. 8 , the opposite direction where the Federal Reserve wants prices to go as it attempts to return to its 2 annual inflation target. As the central bank sets to meet next week investors are optimistic Interest Rate cuts could becoming as early as june after fed chairman Jerome Powell told Congress Rate reductions are likely this year. And prices go down. Whats happening . Reporter only a little harder, not some sort of spike. The disappointment, in the habit of thinking this is going to be linear. The last mile was always going to be the most difficult. And at the editorial page, the amount of money the Us Government has thrown at the economy and that is making it more difficult for how to bring those numbers down. We are not going to have as many rate cuts as the market thought at the beginning of the year. Paul financial conditions are loose, Bitcoin Prices are soaring, gold is rising. Junk bond spreads, it doesnt look like tight monetary conditions to me. The real Interest Rate is below 2 , lots of activity in terms of employment. Consumers are still spending. That makes it more difficult to him but hes shrinking the Balance Sheet little by little which is providing less accommodation to the financial system. On the other side, the economy being hot. You have them 2 shrinking, the money supply, inverted yield curve or at least a 5yearold curve so you have indications if he is too tight and not going to know if he is too tight until later he will tip the economy into recession. He will walk that thin line between tipping the economy into a recession and keeping Interest Rates tight enough to bring out the inflation. Paul the markets are betting powell is going to cut, they shrugged off the Inflation Report and the Interest Rate cuts are going to happen but the Federal Reserve chairman, certainly not paul volcker would be cutting rates in an economy as strong as it is with financial conditions. That is what Jerome Powell wants to do, to follow what paul volcker did. There are two interests at stake. Lower Interest Rates. Wall street wants that. They had virtually 0 Interest Rates for 10 years. It generates a lot of deals, generate a lot of income from making deals. On the other side of that, if inflation rises, it hits the middle class, it eats into their income, their wage increases. Powell is trying to avoid that with Interest Rate increases and try to make sure inflation is under control. On behalf of all americans who are hurt and who know they are being hurt. Paul let me turn to another subject. President bidens statement that he opposes purchase of 14. 1 billion starting with intervention. Good decision . I spent a lot of time talking about economic rationale for that decision. This is a political decision, riskier than the president is acknowledging. This is throwing out crumbs, but if they kill this deal and the cleveland cliff, the us competitor that wants to purchase u. S. Steel is next in line as a suitor you have people talking about antitrust. The us Auto Industry will go bonkers over this idea that you will consolidate the u. S. Steel making industry. President biden may end up with nothing for the antiquated u. S. Steel company which is not able to meet the capacity the us economy needs. Paul the idea that we are going to impose Foreign Investment of the United States, not just put tariffs at the border, when we come back tensions flyer. Chuck schumer calls for a new israeli leader and President Biden draws a redline for Benjamin Netanyahu over his planned offensive in rafah. To make sure october 7th doesnt happen again. Nce . I like to do things myself. I cant trust anything else to do the job right. Kayak. Aaaaaaaahhhh kayak. Search one and done. Heres to Getting Better with age. Heres to beating these two every thursday. Help fuel today with boost high protein, complete nutrition you need. Without the stuff you dont. So, heres to now. Boost. Okay yall we got ten orders coming in. Big orders starting a business is never easy, but starting it eight months pregnant. Thats a different story. I couldnt slow down. We were starting a business from the ground up. 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You cannot say you support the goal of Destroying Hamas and then oppose israel when it takes the actions necessary to achieve that goal. Paul i am joined by Elliott Kaufman who just returned from israel. You were there for a week. Lets start with Chuck Schumers speech saying Benjamin Netanyahu has got to go and israel needs to elect new leaders. How is that being received in israel . Hasnt been received well in israel because israelis think that question should be up to them, not a us senator no matter how powerful he is. Youve had the strange effect where politicians who would like to say bad things about Benjamin Netanyahu, his opponents find themselves with no choice but to rally to him and say we respect you but this is not your call when israelis vote. Will do you think the israelis conclude what schumer is doing is not about israelis but the us election in november and try and get to help the Democratic Party and biden manage the antiisrael left . That is where the smart money is. Defenders of the Prime Minister of israel tend to look at it as an attempt to undermine the Prime Minister, bring him down. People with a little more perspective on the issue step back and say he is speaking to americans, to american liberals you can say anything about Benjamin Netanyahu and it is okay. Israel another story but netanyahu, go for it. Paul there seems to be an attempt by schumer and President Biden to say a unique obstacle is Benjamin Netanyahu but does Benjamin Netanyahu it is an Outlier Position or is that an Israeli National consensus that you have to go into rahah and clear hamas out . On most issues Prime MinisterBenjamin Netanyahu is not popular in israel right now but on every question that President Biden has picked and made an issue of, Chuck Schumer too, on those issues, theres a National Consensus behind Benjamin Netanyahus standss. Ra rafahis a perfect example of that. Paul why is that . If you cant to go into that, you cant a laminate hamas and if you cant a laminate hamas gaza remains a terrorist sanctuary . Thats right. The logic of the war doesnt make sense without an operation on rafah. The goal is to destroy hamas. Hamas is in rafah. 40 of its Fighting Force is there. Are you just going to leave it there . If you do, you havent destroyed hamas and you cant to. Paul what progress do you feel israel is making in the conflict with hamas. Are i they were on the way to finishing this or is that a much longer fight . The answer is both. Israelis believe in the senior officials believe they are close to finishing the job. What they mean is finishing the main fighting, cracking, breaking hamass battalions, breaking it as a Fighting Force as an army. After that theres a much longer process mopping up stabilization. Paul culminating the tunnels, that sort of thing . What about the two State Solution Debate . Biden is pushing that, schumer push that, Benjamin Netanyahu resisted that. Is that something the israeli public is resisting now after the trauma of october 7th . Yes. Netanyahu opponents wish american leaders would stop talking about it because it undermines them, not the Prime Minister. After what happened on october 7th, israelis look and say that is what happened when the palestinians were given a territory they could run. Look what they did with it. As a response, give them an even larger territory next to jerusalem, close to tel aviv, israelis see more massacres, deadlier massacres. Paul in the War Government now, as an opponent of netanyahu everybody assumed a sooner or later, if you replace Benjamin Netanyahu what anything change on the 2 State Solution . Not right now. Not right now. The israeli public would not allow it, would not go for it. Another issue is humanitarian aid. He is worried Benjamin Netanyahu is allowing too much. President biden has misread the situation. Paul misread the politics because hes trying to play to the politics here at home. Thanks, elliot. We have to take another break. 10 misses of the week. Iting fo. The first fdacleared athome skin tag remover clinically proven to remove skin tags safely in as little as one treatment. Can neuriva support your brain health . Mary, janet, hey thinking eddie, no frasier, frank. Frank . fred how are you . fred. Fuel up to 7 brain health indicators, including your memory. Join the Neuriva Brain Health challenge. Time now for hits and misses of the week. Mary you are first requests a miss of her Vladimir Putin went after an ally of the late descendent this week outside his home in the lithuanian capitol. He was attacked with a hammer. His car window was smashed. His arm was broken and spokesman for the late dissident said he can hardly walk. This is pure putin. His worst fear is people would simply speak and circulate ideas that are not his own. A bill . Eight miss for at west point. This week the Military Academy announced a new Mission Statement that deleted the words of duty, honor, country that is mebeen west point tomato. Now, they defend themselves by saying that model remains just we updated the statement. The question is why would they remove that . I suggest they go back to macarthurs 1962 speech if they want some advice. That is a Mission Statement. Alicia . What does that missed it former new York Governor Andrew CuomoWho Repudiated Everything he had done a in his 10 years as goverr in a n New York Post oped ths week he called for a suspension of the Congestion Pricing Tax on drivers entering manhattan, why . Because the city to economically fragile, why . Because of his covid lockdown, tax increases a in the bill he signed. Cooks are right dan . What the hit to Robert F Kennedy jr. Who made the grimmest president ial campaign imaginable was giving us the entertaining prospect of its divisive printable pic on march 26 and emerge it could be either New York Jets quarterback Aaron Rodgers or perhaps former minnesota governor and x pro wrestler jesse, the body, ensure this raises the question where the Kennedy Campaign is mostly a running gag though i still think joe biden and donald trump dont think its a laughing matter. Quicksort dan think of that is it for this week show. Thanks to my panel into all of you for watching. Hope to see it right here next week. Speed but tends to stand up en