THE WAY OF THINGS. THAT'S WHY WE ADORE YOU. THANKS FOR THAT. JOINING ME FORMER SPEAKER OF THE HOUSE NEWT GINGRICH. THANKS FOR BEING HERE. GOOD TO SEE YOU. WE'LL GET INTO THE WHOLE PRICE CONTROL BUSINESS IN JUST A SECOND. I WANT TO FIRST TALK ABOUT OUR SITTING PRESIDENT OF THE UNITED STATES DOING THE OPENING ACT TONIGHT. INDIGNITY OF A MAN WHO CLEARLY WANTED TO RUN FOR A SECOND TERM WHO WAS NOT ALLOWED TO RUN AND NOW, YOU HAVE PEOPLE LIKE SENATOR CHRIS COONS TRYING TO REWRITE THE HISTORY OF WHAT ACTUALLY HAPPENED JUST A COUPLE WEEKS AGO. I WANT TO PLAY SENATOR COONS AND GET YOUR REACTION. ROLL TAPE. >> I THINK PRESIDENT BIDEN JUST MADE ONE OF THE MOST SELFLESS DECISIONS OF ANY ELECTED OFFICIAL I HAVE EVER SEEN IN CHOOSING TO STEP ASIDE AND LET HIS TRUSTED, VALUED VICE PRESIDENT STEP FORWARD AS OUR STANDARD-BEARER FOR THIS ELECTION. HE ALWAYS WANTED TO BE A TRANSITION TO THE NEXT GENERATION OF LEADERSHIP. DAVID: NEWT, CHOOSING TO STEP ASIDE. BY ALL ACCOUNTS THERE WAS NO CHOICE MADE. WHAT WILL HIS REVISIONISM STAND THE TEST OF TIME? >> NO, IT'S SILLY. LOOK THE FACT IS JOE BIDEN IS NOT PASSING THE TORCH. NANCY PELOSI AND A BUNCH OF OTHER BOSSES TOOK THE TORCH OUT OF HIS HAND, TOLD HIM IF HE DIDN'T ANNOUNCE HE WAS STEPPING DOWN THEY WOULD THROW HIM OUT. HE ACCEPTED GRUDGINGLY AND I THINK ABOUT IT EARLY, BITTERLY, THAT HE WOULD FACE REALITY AFTER THE DEBATE HE LOST TO TRUMP SO BADLY THERE WAS NO SUPPORT LEFT FOR HIM, BUT THIS IS NOT A PLEASANT PASSING OF THE TORCH. THIS IS A BYE-BYE JOE BECAUSE IT WAS INCONVENIENT TO THE DEMOCRATIC PARTY TO HAVE SOMETHING THEY WERE PRETTY SURE WAS GOING TO LOSE. OF COURSE HE PASSED IT ON TO KAMALA HARRIS THE VICE PRESIDENT, RUNNING AROUND ONCE SHE IS IN ON DAY ONE THIS IS DAY 1307 OF HER VICE PRESIDENCY. LARRY: THAT'S RIGHT. >> SHE CAN'T GET AWAY FROM THE FACT THAT IT WAS THE BIDEN-HARRIS TICKET, IT WAS THE BIDEN-HARRIS PLAN, THAT SHE VOTED TO BREAK THE TIE IN THE SENATE SEVERAL TIMES OWN SOME OF THE BIGGEST SPENDING BILLS BUT SHE WOULD LIKE TO, WHICH I THINK SHE WON'T BE ABLE TO GET AWAY WITH. DAVID: WHAT TORCH IS SHE PASSING? SHE IS PASSING OVER, SHE IS TAKING A SOCIALIST PATH RIGHT NOW. I MEAN THAT BECAME CLEAR BY WHAT WE HEARD ON FRIDAY WHICH WAS AN EXTRAORDINARY PILE-ON OF SOCIALIST IDEAS, WAGE AND PRICE CONTROLS ON SUPPOSEDLY ONLY IF THERE IS PRICE GOUGING. OF COURSE SHE WILL CHANGE THE RULES OF WHAT PRICE GOUGING ACTUALLY IS TO EFFECTUATE THAT PROCESS OF PRICE CONTROLS BUT PRICE CONTROLS ON FOOD, ON HOUSING, RENT CONTROL, NATIONALIZED RENT CONTROL AND OF COURSE SHE BELIEVES IN SOCIALIZED MEDICINE. FOOD, RENT, AND HEALTH CARE WILL BE CONTROLLED BY THE GOVERNMENT. DOESN'T THAT MAKE US ALL WARDS OF THE STATE? >> WELL YOU KNOW IT'S ALMOST NUTTY. I CAN'T, SHE PENT THE -- SPENT THE LAST COUPLE WEEKS TRYING TO MOVE HER TO THE CENTER, TO SAY SHE IS NOT A SAN FRANCISCO RADICAL. SHE GOES OUT ON FRIDAY BEFORE THE CONVENTION GIVE AS SPEECH WHICH IS PURE GOVERNMENTAL SOCIALISM. AT A POLITICAL LEVEL WE RUN A PROJECT CALLED AMERICA'S NEW MAJORITY PROJECT, A NEW POLL, 16%, OF THE COUNTRY FAVORS BIG GOVERNMENT SOCIALISM, ABOUT 59% FAVOR FREE-MARKET CAPITALISM. SHE WALKS IN AND SAYS I WILL DRAMATICALLY EXPAND SPENDING WHEN THE AVERAGE AMERICAN BELIEVES THAT WILL INCREASE INFLATION. I'M GOING TO MAKE THE GOVERNMENT DEFICIT EVEN BIGGER WHEN THE AVERAGE AMERICAN WANTS THERE TO BE CUTTING THE SIZE OF GOVERNMENT. BY THE WAY I WILL PUT A BUREAUCRAT IN EVERY GROCERY STORE AND A LAWYER AT EVERY MEETING OF BUSINESSES. EVERYBODY, I THINK THE AVERAGE AMERICAN JUST KNOWS, TRYING TO REINVENT VENEZUELA OR THE SOVIET UNION IS A REALLY DUMB IDEA AND WILL RUIN THE COUNTRY PERMANENTLY. SO I DO NOT UNDERSTAND HOW SHE COULD HAVE MADE THIS SPEECH AND WHY HER TEAM THOUGHT THIS WAS A SMART IDEA. DAVID: WHO IS HER TEAM? FIRST OF ALL YOU'RE RIGHT, THE TIMING WAS JUST EXTRAORDINARILY BAD. SHE IS ALREADY TRYING TO EXPLAIN AWAY THINGS SHE SAID YEARS AGO ABOUT SOCIALIZING MEDICINE. NOW SHE HAS GOT, DURING THIS WEEK, SHE HAS TO DISAVOW WHAT SHE JUST SAID ON FRIDAY. IT IS JUST EXTRAORDINARY BUT WHAT DOES THAT TELL BUT THE TEAM? CLEARLY THESE ARE NOT IDEAS OR THESE ARE NOT PLANS THAT SHE INVENTED HERSELF. WHO IS TELLING HER ALL THIS? >> I DON'T KNOW BUT WHEN YOU'RE A LEFT-WING DEMOCRAT AND YOU GIVE A SPEECH THAT "THE WASHINGTON POST" ATTACKS? DAVID: YES, YES. >> YOU'VE DONE SOMETHING WRONG. I THINK THAT, WHEN THE AVERAGE AMERICAN LOOKS AT WHAT SHE WANTS TO DO, AND NOW YOU HAVE HER ON TAPE. THIS IS NOT, OH, THAT WAS 10 YEARS AGO. THIS IS LAST FRIDAY AND I THINK THAT SPEECH WILL BE MORE IMPORTANT IN DEFINING HER THIS FALL THAN THEY ARE ACCEPTANCE SPEECH ON THURSDAY NIGHT BECAUSE THAT SPEECH IS SO RADICAL, AND SO MUCH BIG GOVERNMENT SOCIALISM, THAT IF THE TRUMP PEOPLE JUST WORK AT IT, THEY WILL MAKE SURE THAT EVERY SINGLE AMERICAN KNOWS THE LEVEL OF GOVERNMENT CONTROL SHE STANDS FOR AND THE DISASTER THAT WOULD BE ECONOMICALLY. DAVID: YOU MENTIONED "THE WASHINGTON POST." THERE WAS ALSO "THE NEW YORK TIMES." JASON FURMAN A FORMER OBAMA ADVISOR, SAID IT WAS A NUTTY IDEA. I SAW A TOP CNN ECONOMIC ANALYST, REMINISCE WHAT THEY HAD IN VENEZUELA OR THE OLD SOVIET UNION. I REALLY DON'T KNOW, THE TIMING YOU MENTIONED OF THIS THING, THE ACTUAL SUBSTANCE SUCH AS IT IS OF A SOCIALIST ECONOMIC PLAN, DO YOU THINK WE'RE GOING, SHE WILL TRY TO BURY IT THIS WEEK, WILL SHE SOMEHOW BE FORCED TO REVIVE THAT PLAN DURING SOME SPEECH SHE SHE IS GOING TO MAKE AT THE END OF THE WEEK? >> I THINK THEY JUST GAVE DONALD TRUMP THE DEBATE. DAVID: YEAH. >> ALL TRUMP HAS TO DO WALK IN THE DEBATE, HOW ARE YOU GOING TO DO ALL THIS? HOW MANY BUREAUCRATS ARE YOU GOING TO HIRE? HOW MANY GOVERNMENT LAWSUITS WILL YOU CREATE? SHE WILL NEVER DIG HER WAY OUT OF THE HOLE SHE CREATED. DAVID: WHAT REALLY GOT UNDER MY SKIN, USE HER A PHRASE I FIRST HEARD FROM NEWT GINGRICH BACK IN 1983, THE OPPORTUNITY SOW -- SOCIETY, CLAIMS THIS HUGE TREMENDOUS INCREASE IN THE ROLE OF GOVERNMENT IN OUR LIVES, THE FOOD WE EAT, OUR HOUSING AND OF COURSE OUR HEALTH CARE, THAT THIS IS ALL OPPORTUNITY, AN OPPORTUNITY SOCIETY WHICH OF COURSE YOU PHRASED AS A CONSERVATIVE IT OPPORTUNITY SOCIETY. WHERE DID SHE GET THAT PHRASE? >> WELL, LOOK -- DAVID: FORGIVE ME, NEWT. LET ME JUST, LET ME JUST PLAY IT FOR THOSE WHO HADN'T HEARD IT. I REALIZE WE NOW HAVE THE SOUND BITE. ROLL THAT TAPE. >> TOGETHER WE WILL BUILD WHAT I CALL AN OPPORTUNITY ECONOMY. [CHEERS AND APPLAUSE] AN OPPORTUNITY ECONOMY. AN ECONOMY WHERE EVERYONE CAN COMPETE AND HAVE A REAL CHANCE TO SUCCEED. DAVID: SHE MENTIONED OPPORTUNITY, SHE MENTIONS COMPETITION. HERE IS FROM "THE NEW YORK TIMES," A PIECE IN 1983, IT SAYS, MR. GINGRICH IS AN AVID PHRASE MAKER AND HE DUBBED HIS VISION OF THE FUTURE THE CONSERVATIVE OPPORTUNITY SOCIETY. SHE IS NOT ONLY, SHE IS NOT ONLY BRANCHING OUT IN TERMS OF HER SOCIALIST ECONOMIC POLICY BUT ALSO IN TERMS OF WHAT YOU MENTIONED 40 YEARS AGO. >> WELL LOOK, IT IS LANGUAGE WHICH WORKS. IT WAS LANGUAGE WHICH ENABLED US TO WIN CONTROL FOR REPUBLICANS FOR THE FIRST TIME IN 40 YEARS. I THINK, SOMETHING THAT DONALD TRUMP BELIEVES IN DEEPLY BUT I WOULD JUST SAY TO THE AVERAGE AMERICAN, DO YOU REALLY BELIEVE, HAVING ANOTHER BUREAUCRAT GO INTO EVERY GROCERY STORE, HAVING THE FEDERAL GOVERNMENT CHECK EVERY PRICE IS AN OPPORTUNITY? DAVID: YEAH. >> I THINK IT'S A BURDEN. I THINK IT'S A THREAT. IF THEY HAVE THAT MUCH POWER, WE HAVE NO FREEDOM LEFT. DAVID: VERY QUICKLY, FINAL POINT, THEY'RE GIVING ME A WRAP, NEWT, ALSO PLAGIARISM BY JOE BIDEN BUT HOW TO DEFY THE LAW BY JOE BIDEN. SO MANY OCCASIONS DEFIED THE LAW MOST NOTABLY WITH THE STUDENT LOAN BAILOUTS WHICH THE SUPREME COURT TOLD HIM HE COULDN'T DO. SUPPOSED TO BE THE FINAL WORD WHAT YOU CAN, CANNOT DO IN GOVERNMENT. IGNORED THAT. CONTINUES TO THIS DAY TO CHANGE REGULATIONS FOR STUDENT LOAN BAILOUTS. DO YOU THINK, IF SHE WINS THE PRESIDENCY AND THERE IS NOT A DEMOCRAT MAJORITY IN THE HOUSE OR THE SENATE THAT SHE WILL FIND A WAY CALLING IT EMERGENCY, COMING OUT WITH EXECUTIVE ORDERS CHANGING THE REGS TO DO SOME OF THESE THINGS WITHOUT CONGRESS? >> WELL, LOOK I THINK, I DON'T THINK THEY HAVE MUCH REGARD FOR THE RULE OF LAW. YOU SAW THAT WITH THE WAY SHE AND HER RUNNING MATE GOVERNOR WALZ HANDLED RIOTS IN MINNEAPOLIS IN 2020. THE FACT IS THEY HAVE CONSISTENTLY FAVORED BREAKING THE LAW. THEY HAVE CONSISTENTLY FAVORED PUTTING PEOPLE BACK ON THE STREET WHO ARE CRIMINALS BUT, I THINK, THE SIMPLER ANSWER IS SHE WILL NOT BE PRESIDENT. YOU CAN'T BELIEVE THESE THINGS AND THINK YOU'RE GOING TO WIN A GENERAL ELECTION. THE NEWS MEDIA HAS PROPPED HER UP. THEY HAVE GIVEN HER A GOOD LAUNCH, I WAS THERE IN 1988 WHEN DUKAKIS, GOVERNOR DUKAKIS, THE DEMOCRATIC NOMINEE WAS 1POINTS AHEAD OF G H.W. BUSH, 17. HE COLLAPSED WHEN PEOPLE REALIZED HOW LIBERAL HE WAS. HER SPEECH FRIDAY WAS THE BEGINNING OF THE END OF THE HARRIS CAMPAIGN. DAVID: GOOD POIN