Larry Kudlow on efforts to stabilize the US economy, timeframe for re-opening America

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Larry Kudlow on efforts to stabilize the US economy, timeframe for re-opening America

We are facing a temporary, short-lived contraction but the underlying strength the U.S. economy should come back very quickly, says Larry Kudlow, director of the National Economic Council.

This is a rush transcript from "Hannity," March 27, 2020. This copy may not be in its final form and may be updated.

SEAN HANNITY, FOX NEWS HOST: All right. Welcome to "Hannity."

It's busy, breaking news, Friday night. Tonight does cap what has been a very difficult week for so many Americans. Now, we're not out of the woods yet by any stretch. It's likely there's going to be a few more weeks of this.

But if the pattern holds -- and I know the mob and the media, they want to scare the living daylights out of you. If it holds, we know a number of things will hopefully level off, drop dramatically and as soon as possible, we all want -- we will all want life to return to normal.

We are the United States of America. We will soon be passed this. It is who we are. We must remember that even in times of trouble.

Now, help is on the way. The country is on the road to recovery. Just hours after passing the House, President Trump did sign this massive $2 trillion emergency relief package.

Soon, those Americans that have been needing this -- and, of course, delayed forever because of the insanity of the New Green Deal and all this crap they wanted to put in the deal, they will get the payments that they deserve, make them whole from the government.

Hospitals will receive the billions. They will get the equipment they need. Small and large businesses devastated by the virus will also get the financial assistance.

Get us through this period. Let's get on the other side of it. It will take some time.

Now, this is the money that has been needed, and will be received, through no fault of their own -- we're Americans, we pulled together. Now, we'll have all the details coming together.

The director of the U.S. Economic Council, Larry Kudlow, will explain the details of all of this, give us the pathway to recovery, along with the Minority Leader Kevin McCarthy. He will weigh in on the madness. If you missed it today, the temper tantrums, AOC, other radical socialists, we have all the tape.

By the way, quid pro quo Joe had a disastrous week. Really bad, and we got that all on tape.

Now, we've seen the very best in the American people and we have seen the very worst. The best, the best doctors, the best nurses, the best medical professionals working round-the-clock, putting themselves in harm's way. We have the best scientists, medical researchers making historic strides in finding treatment options faster than ever before in history.

We are now all blessed to live in a country to have so many gifted and talented people working this hard. Members of the U.S. military, they are now assisting states nationwide, the best of the best.

And breaking today, the president just issued an executive order bringing reserve forces back online as active-duty personnel. The president also invoked the Defense Production Act mandating that General Motors produced thousands of new ventilators. Why? They were acting too slow -- look at your screen.

G.M. now joins all these great companies -- you can see that on your screen -- that move heaven and earth to produce the masks, the ventilators, the medical equipment, emergency supplies and get them delivered, all these life-saving products all over the country, where and when needed.

And just today, airplane giant Boeing announced that it would also be producing much needed face shields. These corporations do deserve a lot of credit. So does the president, so does his task force. They have led from the day one, yes, when they were being called xenophobic and racist and hysterical and fearmongers.

From public-private partnerships to drive up testing sites, soon to be home testing sites, the travel ban, the paradigm shift, how we will deal with future pandemics is now literally being rewritten and unfolding right before your eyes. This is now history in the making.

Now, sadly, there are some people -- I'm glad it's a minority -- who are so afflicted with the rage, hatred, and Trump derangement syndrome, they won't give him credit for one thing.

Last night, I touched on the insistent, never-ending, constant complaining, and frankly, lack of accountability of that guy, New York Governor Andrew Cuomo. His state is the epicenter of the coronavirus in the United States. They are facing a real crisis.

New Yorkers need and deserve help and the president has rightly directed the full, complete support of the federal government, unprecedented assistance has been given and will be given as promised.

Billions of dollars in federal funding. Chuck Schumer said at least out of this bill, $40 billion that was signed into law will go to New York. On top of that, a U.S. Navy hospital ship, it will be leaving tomorrow. It will be in New York harbor on Monday.

Four temporary hospitals have been, are being erected by the Army Corps of Engineers. Donald Trump is making that happen.

Look at your screen. Another 1,000-bed hospital set up by FEMA. Look at that. That is at the Javits Center in Manhattan, in New York, to prepare for potential overcrowding.

That's five separate hospitals the president has secured for Cuomo, the state of New York, the city of New York. The president also sent the National Guard to help with state -- to help the state with logistics. And he send, yes, more than 4,000 ventilators alone this week.

Everything that New York will need, Cuomo has requested, the president has delivered. But you know, I watched day after day, and he says it, he talks with such great authority. You know, these politicians all talk, no action, that's what we're getting from Cuomo.

It sounds great, sounds authoritative, sounds wonderful. Came on my radio show for 40 minutes, yes, we will all work for gather. Today, he had nothing but more whining, kvetching and complaining.

It's getting pathetic, Andrew. What are you doing and why didn't you prepare better? We'll examine this. Take a look.

(BEGIN VIDEO CLIP)

REPORTER: Were there ventilators found in a storage facility or something that the president is claiming that there were ventilators found that they need to be distributed? Is there any truth to that?

GOV. ANDREW CUOMO (D-NY): That is -- that is incorrect, and grossly uninformed. The point is, we have ventilators in a stockpile and we didn't send them to the hospitals yet. Of course, we didn't. That's the whole point. The hospitals don't need them yet.

(END VIDEO CLIP)

HANNITY: Oh, they don't need them yet. That's a nice hospital behind you. Thank Donald Trump. Maybe once in a while say, thank you, Mr. President. Thank you to the American people. They are paying that bill.

Now, he even admits they don't currently have a ventilator shortage in New York. We need 40,000! OK, if you need 40,000, we'll get you 40,000. You're not even using the 4,000 you got this week.

As circumstances changed, the president has pledged to everybody, he will continue to move heaven and earth to get New York and any other state any ventilators, any medical equipment they need. It's not exactly been the simplest endeavor. Nice hospital behind you. Oh, the country paid for that, Governor, the country.

And the country does and now have the right to get answers from you -- both the governor New York and the mayor of New York City. New York is an international state, it's an international city, New York City. People from all over the globe come right here.

You know, last year, the state of New York, they spent over $170 billion. I know, I live here. I pay a fortune in taxes, as does everybody else. The city of New York, they spent another $90 billion.

So why didn't they have the emergency supplies at all? They seem to have little or none, zero preparation. What part of being the number one terror target in the country do they not seem to understand? Because you've got millions of people, highly concentrated in a very small area. How is it possible you were not prepared for emergencies like pandemics?

Close proximity, millions of people. Yes, you would be most likely to have the most difficulty.

Governor Cuomo, you are now in your third four-year term as governor. There's no excuses. Sitting there, lecturing. I need 40,000 of this and 60,000 of that. Really? Why didn't you do your job and allocate the emergency dollars for moments predictively like this? New York is the number one target in the entire United States for terrorism.

Now, Andrew Cuomo, we've looked at how you have spent money in New York. Look at this, a whopping $750 million for solar panel factory. By the way, where is it now? Closed down.

Ninety million for a light bulb factory or a company in California. What's that? Whatever happened to that, Andrew?

Or the $600 million you spent on a computer chip factory that sits empty. Millions spent for brand-new "I love New York" signs.

Governor, I have a question for you, how many ventilators, how many gowns, how many masks, how many gloves, how many respirators, how many generators, how much fuel could you have stored and have purchased with just some of that money?

And yet every day, he goes out there, I need this, I need this, he needs this, not going fast enough, I need 40,000 ventilators. You're not using the 4,000 you have.

And he sits there lecturing the president and the task force. They're moving heaven and earth, rightly so, for the city and for the state.

How about saying "thank you" to the American people? They're making that happen for you. The president and his task force, they're making that all happen for you, great photo-up in the hospital they built for you.

And don't forget, according to a former New York state lieutenant governor, in 2015. Remember? Yes, wow, even the liberal media mob reported this.

Cuomo is warned that his state would need additional ventilators to manage any future pandemics. He chose not to buy them. I guess he needed the money for the solar stuff.

So you've got Cuomo, comrade De Blasio whining, kvetching, complaining, every single day, they take no responsibility for their failure to prepare and wasting, all the waste, fraud and abuse on their watch.

Governor, Mayor, maybe it's time you be grateful to the federal assistance that you will rightly continue to receive as it pours into the state of New York. If you have any problems of the bill passed, only $3.5 billion. No, your Senator Chuck Schumer says over $40 billion.

The president has been delivering on his promises to you and Cuomo and de Blasio -- well, you need to now start doing the same.

Which brings us to even a lower point, Hillary Clinton. Hillary once again proving she is a national disgrace. Bitter, twice failed presidential candidate, now seemingly cheery for the virus on Twitter. Tweeting out, headline: U.S. now leads the world and coronavirus cases. I guess she probably believes the Chinese propaganda -- along with a message, quote: He did promise America first. That's a new low even for her.

Hey, Hillary, people are sick and people are dying.

And thank God that vindictive, angry attention seeker is not president because she lost. You think she would've enacted the travel ban, do you think that would've happened with Hillary? Quarantine? You think that would've happened with Hillary?

You think she would have -- that one decision, saving tens of thousands of Americans from contracting this disease? I doubt it. She would've called it xenophobic, racist, you know, hysteria.

Hillary Clinton in a crisis -- well, we have some examples of that. We all remember how well she handled Benghazi and let's not forget, she served in the Obama-Biden administration. Yes, 2009-2010, in Joe's words, the N1H1 pandemic, when the federal stockpile of N95 masks were totally depleted by Obama, guess what? Even "The Washington Post" points out they never replaced them. That put -- that set everybody back in this case.

Here with reaction, FOX News contributor Dan Bongino, FOX News correspondent at large, Geraldo Rivera.

Geraldo, you are a New Yorker through and through. You know, I will never forget the great work you did at Willowbrook reporting.

Of course, New York, the number one terror target, we know that, first Trade Center bombing, 9/11, concentration of people, millions in a small area. Get a pandemic, got to watch out for New York.

I see no preparation for the president has moved heaven and earth for Cuomo and de Blasio and every day they lecture him, and yet they did nothing but waste money.

GERALDO RIVERA, FOX NEWS CORRESPONDENT-AT-LARGE: I think that President Trump in this crisis is most like, if I was going to make a historic parallel, General Patton during World War II. He may be flamboyant and unrestrained, but he's getting the job done. I think that Andrew Cuomo has done a pretty good job. De Blasio I think has been AWOL, absent without leave --

HANNITY: Excuse me, Cuomo has done a good job talking, talking, talking.

(CROSSTALK)

RIVERA: As I was going to say, the constant whining by Governor Cuomo was an embarrassment when they had the gotcha moment when they found the factory in New Jersey filled with ventilators that had not yet been deployed, which was exactly President Trump's point. So, Andrea, really I think embarrassed himself.

Hillary Clinton, that was disgusting. That was like a snappy joke about the Holocaust. It was an obscene display of bitterness and jealousy, twisted. It's like these people are so cynical that they would cheer her on a catastrophe, calamity, as long as it made Trump look bad.

You know, they are so frustrated by the policy committee approval that the American people are showing the president for his herculean efforts. Sixty percent of the people in the Gallup poll, which has not been kind to the president.

I think the Democrats are really -- they are way out over their skis. They should, you know, accept their own personal responsibility and work with the president, who I think has been beyond gracious when he talks about de Blasio, when he talks about Governor Cuomo. You know, he really has gone out of his way to say, hey, listen, this is a horrible thing that we are going through, this is a wicked disease we're fighting. Let's present a united front.

I just have no patience for, just because it hurts Trump on reelection, you cheer it on. I think it's disgusting.

HANNITY: In the beginning I thought, all right, Andrew Cuomo saying he wants to work together. They're not -- the tipping point for me is when -- I need 40,000. And he had these in a warehouse and he didn't even touch them, Dan.

And its daily lectures.

DAN BONGINO, FOX NEWS CONTRIBUTOR: Yes.

HANNITY: Then I started looking at the money that he wasted. Then I looked at the lack of preparation of him and De Blasio.

Then I realized, how could they have not prepared the number one terror target in the U.S. customer, how could they not have prepared the most dangerous city if the pandemic ever broke out. They weren't prepared at all. They were just lecturing Trump. Give me, give me, give me, give me, give me.

BONGINO: You know, Sean, I thought Donald Trump during the press conference today made Bill de Blasio look really small. You know, I have to tell you, I don't have a -- I've kind of a temper, I probably would've unleashed on de Blasio. Probably better for America that I'm not but President Trump was actually very gracious towards de Blasio who has been nothing but ridiculous and tiny and petty towards him back. And I was really impressed by the way the president handled that.

I'll say, secondly, regarding your point about New York, which is an excellent one and should not go unnoticed by people out there.

Ladies and gentlemen, the single biggest expense and the majority of people watching this show tonight is government. There is nothing in your life you will work harder to support. You spent approximately 30 percent of your time on average working to pay for government and what is government in New York done? It lets you down.

I'm sorry. I live in the state of Florida, Sean, which is a bigger population than New York and has a budget tens of billion dollars lesser than New York. What is New York's excuse for all this lost time and all this money they had coming in?

And one more comment here on Hillary Clinton. Which is -- by the way, I grew up in New York. What is going on here is an absolute tragedy and thank God we have people intervening to help the people in New York out.

But the whining and complaining by Andrew Cuomo, I totally agree with Geraldo. It makes them look petty, small, and ridiculous.

Just finally on Hillary, you're looking at a broken woman. This is gross. This is a personnel (ph) who feeds off power, and I don't just mean positions like secretary of state running for president. I mean influence.

She's clearly lost influence. Even a lot of Democrats are running away from her, and she is lashing out now in an attempt to make herself relevant. And it's despicable and gross. That tweet is disgusting. She should be embarrassed.

HANNITY: You guys are amazing.

BONGINO: She should apologize.

HANNITY: Dan and Geraldo -- she should.

RIVERA: I agree.

HANNITY: And so should Cuomo. Five hospitals. Five. A Navy ship. It will be in New York harbor Monday, 4,000 ventilators sitting there, ready to go. And more being made. Thank you.

Hillary -- tonight, Hillary Clinton is not the only attention seeker trying to capitalize and politicize the coronavirus. Today, lawmakers on Capitol Hill, they lost their mind using the emergency stimulus bill is a way to thrust themselves into the spotlight.

Rare moment, the president, John Kerry actually teamed up to bash one GOP representative. One -- some idiot, I don't even know who it is, trying to singlehandedly stall the bill in the House while excuse me, but workers, and hospitals have been waiting now forever because of the Democrats. The president called him a third rate grandstand. Kerry called him a bleep hole.

Meanwhile on the other side of the aisle, one Democratic lawmaker could not stop screaming on it all, bizarre rant. We've got the tape.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: The gentleman from Maryland is recognized.

(CROSSTALK)

REP. HALEY STEVENS (D-MI): I rise before you -- not for personal attention, not for personal attention but to encourage you take --

(CROSSTALK)

STEVENS: I rise for every American who is scared right now, to the families!

UNIDENTIFIED MALE: The gentlelady will suspend. The gentleman from Maryland is recognized. The gentle lady is out of order.

STEVENS: You will see darkness, you will be pushed, and our society needs you to stand together at this time! Our country loves you!

To our doctors and our nurses, I wear these latex gloves --

(CROSSTALK)

UNIDENTIFIED MALE: The gentlelady's time has expired. The gentleman from Maryland is -- reserves.

The gentleman from Texas is recognized. The gentleman from Texas is now recognized.

(END VIDEO CLIP)

HANNITY: Ba, ba, ba, bap!

All right, believe it or not that wasn't even the worst speech of the day. Here's Congresswoman Ocasio-Cortez using the bill to promote her own radical, yes, Green New Deal. She is outraged that illegal immigrants were not included in the emergency stimulus bill.

Conservative estimates, illegal immigration costs U.S. taxpayers -- that would be you, all of you -- $100 billion a year. Can you imagine how many masks, ventilators, supplies we could purchase that with that money if we secured our border?

But when you're a radical socialist, with no concept of math and economics, you just think money falls from the sky. Maybe that's why Ocasio-Cortez was also enraged over the struggling businesses getting help filing and hospitals getting help.

(BEGIN VIDEO CLIP)

REP. ALEXANDRA OCASIO-CORTEZ (D-NY): What did the Senate majority fight for? One of the largest corporate bailouts with as few strings as possible in American history. Shameful. The greed of that fight is wrong, for crumbs, for our families, and the options that we have is to either let them suffer with nothing, or to allow this greed and billions of dollars which will be leveraged into trillions of dollars to contribute to the largest income inequality gap in our future. There should be shame about what was fought for in this bill.

(END VIDEO CLIP)

HANNITY: All right. I don't know what that is.

But, joining us now with reaction, House Minority Leader Kevin McCarthy.

Kevin, I've never seen such a repulsive week as hospitals waited, workers waited, businesses waited. I don't know what to make of this.

REP. KEVIN MCCARTHY (R-CA): You know, today was a good day sitting in the Oval Office watching the president signed this bill, but this bill could have been on his desk as early as Monday of this week. Those theatrics that you watched AOC talked about, that's exactly what Speaker Pelosi was fighting for -- Planned Parenthood, changing election law, Green New Deal.

This is the stuff that we kept out of this bill. But if you watch the theatrics, it's not time for theatrics. It's time to defeat this threat.

HANNITY: We waited a week, she wanted, you know, green new gases, illegal immigration, same-day voting, no verification, and Americans were suffering during this period of time.

MCCARTHY: You know what happened in a week, Sean? Three-point-two million Americans went in and applied for unemployment. That is larger than in the Great Depression, six times larger than the financial crisis.

Look, the virus is here. We didn't ask for it, we don't choose it. But the one thing we will do together is defeat it, and that's what this president showed with his leadership day in and day out. But with this piece of legislation, it keeps people employed, it's (ph) resources to the hospitals --

(CROSSTALK)

HANNITY: Two hundred and twenty-two days.

MCCARTHY: Yes.

HANNITY: Yes, 222 days. We have a choice, right?

MCCARTHY: We have a big choice.

HANNITY: All right.

MCCARTHY: If you want to take the House, this is the opportunity to show different leadership that this would have been on his desk much sooner.

HANNITY: All right. Kevin McCarthy, thank you.

And joining us now with more, director of the National Economic Council, Larry Kudlow.

Larry, I didn't like the ways -- oh, they got as much as they could out, but they basically had a political gun at their head. How quickly will people -- businesses, and out of work -- people out of work, how soon will they get the money that they've been waiting for?

LARRY KUDLOW, UNITED STATES NATIONAL ECONOMIC COUNCIL DIRECTOR: Well, I think it's going to come in the next couple of weeks, Sean. You've got about $600 billion of assistance to individuals, workers and families, OK?

And overall, this is the largest package especially aimed at the middle class in the history of the United States. It's economic assistance. You know, it's going to stabilize the economy.

But think of this, $600 billion, including direct checks, Sean, and including unemployment insurance, and you've got another roughly $400 billion for small businesses to take down their payrolls, their revenue loss and their expenses.

You can't have a good job without a functioning business.

HANNITY: OK, here's --

KUDLOW: Now, this is an external shock. What we're trying to do is stabilize the economy, the Fed is stabilizing the financial markets so that when this virus runs its course and, prayerfully, it will be the next four to six weeks, maybe eight weeks, something like that, prayerfully, the economy will be poised for a new takeoff.

HANNITY: OK, explain how that happens.

KUDLOW: Well, look, right now, so much of the country is shut in, because of the advice of the doctors, the president's own leadership decisions, governors in states. Big states are shut in.

So, you've got, you know, people staying home, small businesses closed down, restaurants and so forth, virtually no flying, virtually no leisure, virtually no travel. Some large factories have had to shut down. This is all part of it, mitigation policy that we practice.

We're coming up to the end of the 15-day period and the president, next week, will have more to say about the potential for reopening the economy.

But my point is this, we want to try to keep individuals and their families, we want to give them whole, we want to keep them whole. They may need the unemployment check, they may need the direct check from the Treasury so they can keep them whole, get to family finances, take care of the kids, and so forth and so on.

We want to keep the businesses whole, right? They're going to be damaged. There's no question about that. The risks are significant.

But here's my point. We had a strong economy going into this. We were pulling it better than 3 percent.

Now, we're going to face a temporary short-lived contraction. But after that, the underlying strength of the economy should come back very quickly and that's why these assistant plans across the board, throughout the economy, are so important.

This is not a bailout package, right? This virus comes from outside. Nobody wanted it, we're coping with it and incidentally, we're pouring hundreds of billions of dollars into states for medical facilities and medical equipment, Sean, and hospital capacities. We're doing everything we can to get through this pandemic.

HANNITY: Larry, I got to go. Thank you for your work.

KUDLOW: I get it. I get it. Thank you for having me. Appreciate it.

HANNITY: Thank you. When we come back, the latest on the medical side. Dr. Oz, straight ahead.

(COMMERCIAL BREAK)

HANNITY: All right, we do have some breaking news. The FDA, I just understand, has now moments ago approved a coronavirus test in which you will get results quickly. We have news from JAMA about convalescent plasma. That's when people have corona, they recover from corona, and then have the antibodies, you remove the plasma and you literally infuse it into people that are very sick. We've had a lot of promising issues there.

And the French physician has finished a clinical trial as it relates to hydroxychloroquine with Azithromycin, which brings us to Dr. Oz.

And I can tell you from -- I've gotten to know Dr. Oz. This man does not sleep, he's been working 24/7, you know, looking into, number one treatments that will keep people alive and save lives while we work on the vaccine, which was now -- it started the trials on that in record time.

Tell us about these three developments. These are huge.

DR. MEHMET OZ, "THE DR. OZ SHOW" HOST: Yes, these all happened in the last few hours. Let's start with Abbott first because it happened two minutes ago. The FDA approved a small device, a point of service, to test for coronavirus. Same as experienced with the patients, except you don't have to wait five days or even a day. In 5 minutes, you'll have the results.

And because it's a small device, being in physician office, or somewhat, it's more convenient. You don't have to be within the four walls of a hospital.

So, think about this, five minutes after you put in there, you know if you have it. It takes about, you know, 13 minutes if it's a negative test, but still, immediately, you'll have your answer.

And here's the best part, they're expecting to do 5 million tests in April, which we could finally use that to determine exactly who's sick, who's not, who gets quarantined, who goes back to work, and it will be super helpful to the task force as they begin to figure out which communities begin to do some experiments without the lockdown.

So, hugely viable, it is the most (ph) important advance --

(CROSSTALK)

HANNITY: That's huge.

OZ: Yes. So, let's get to these two other things.

HANNITY: You have two other ones. You have two other big new items.

OZ: You know, I know you're interested in this French physician. So, he just -- he just before the show he sent me the pre-print, the paper that's going to get published over the weekend. And it's remarkable.

So, again, he's looking at hydroxychloroquine and combining with azithromycin, which is Z-Pak. So, malarial drug and Z-Pak both FDA approved for different indications, but when used together, this world famous French physician is arguing they can benefit the patients in his clinics.

He took 80 patients, 80, it's a big number. There's no control group. So it's not a randomized trial the way we like it for this country or for the FDA, but it's interesting to see what he did.

And he got those 80 patients on both those medications, 79 survived, which is --

HANNITY: Of the 80?

OZ: Of the 80.

These are hospitalized patients. That's meaningful more than you would normally expect from any kind of experience, and he says part of the reason they did well is because within eight days, 93 percent had no virus left in their bodies. That's half of what you'd expect.

So, it gets the virus out of the patients, or they get rid of it faster, and they seem to do better, clinically. Now, of course, we need to have a control group for a true randomized trial, but this is additional information from a center that is pretty reputable demonstrating why he believes it's unethical not to offer this to doctors and patients.

It's per prescription. You can't do it on your own. Don't try to buy it in the black market. Don't try to do chemistry class in yourself.

You got to get it with a doctor to make sure you don't have side effects, but I think it's pretty cool.

HANNITY: Let me ask you something. The fear was with hydrochloroquine with Z-Pak, or azithromycin, we didn't know how they'd interact. We have a lot of history with chloroquine because it's been around since 1945.

But putting them together, which is what the treatment option is being, you're saying 79 out of the 80 patients live and recovered? And you've also been talking to doctors all around the world that have been using this treatment -- I know because you're putting them on your TV show.

OZ: I have, and they generally are happy. But again, doctors are circumspect, they've got to be conserved, as they should be. Without a control group, you don't know.

But in the fog of war, you'll do what you can. You launch into battle with the army you have.

One interesting observation since you brought it up. You're so darned smart about this stuff, because these clinical trials aren't that evident usually. There's actually data on these two drugs being used together and a pharmaceutical company shared it with me, and they don't see significant increase in complications that we might've feared would happen.

Again, hasn't been peer-reviewed and trialed, but the experience so far does not reveal an incremental risk of using the two drugs together.

HANNITY: How about the convalescence plasma? This is fascinating to me. You get sick, you get better, you still have the antibodies, you remove it, and then for a really sick person, you infuse it into that person and I've heard results that it works almost within hours.

OZ: So there was a paper published again, recently in JAMA, and it showed in five patients, it just came out, that all five survived despite being morbidly ill. Now, only three have gone home, but the other two are apparently doing OK, and that is remarkable to get five out of five when they are that sick.

And these patients -- their lungs are being destroyed, they're in the ICU, they're intubated. These are very sick folks in general.

HANNITY: They're dying.

OZ: It's a last ditch effort.

HANNITY: Yes, exactly.

OZ: The clinical trial in New York started now, that I think help answer these questions for all of us.

HANNITY: We've had this clinical trial going on in New York. Oh, the president again gave the chloroquine to Governor Cuomo. That's going on in New York. So, we might have information and data as early as next week.

OZ: No, it's going to take longer because as I wrote -- you know, I looked at some of the numbers and I think it's going to be about 250 pages in the chloroquine study. And you're going to want to do not that many, but enough patients in the convalescence plasma study.

But here's the thing, as long as the clinical trials are being done, the medical community gets more comfortable in these urgent situations to allow patients to get these products in the meantime, as long as there's a goal at the end.

HANNITY: If some -- if a guy had -- if you knew he had coronavirus and he coughed in your face, would you try hydroxychloroquine and azithromycin yourself? Because after all, I've read, I would.

OZ: Well, if you coughed in my face, I would take the malaria pill, hydroxychloroquine, because we actually have a different trial showing that might be beneficial for doctors and nurses to avoid getting sick if they get coughed in the face.

If I got coronavirus, I would take both without thinking about it. Most of the physicians I've talked to, said yes, I haven't talked to all the physicians of doctor, but many who wouldn't because they feared it's not tested and they're not sure it's worth it, but I think a lot of docs who are in this deal with these patients understand why patients are asking for it.

HANNITY: You've had -- you've been doing amazing work. I know for a fact because I can write you at 3:00 a.m. and you answer me. So, thanks for all you're doing, Dr. Oz. Thanks for keeping us informed. Appreciate it.

When we come back, Joe Biden had the worst week of his campaign. We've got the tape to prove it. Oh, boy. Straight ahead.

(COMMERCIAL BREAK)

HANNITY: Well, you think it can't get any worse for quid pro quo Joe. He decided to come out of hiding this week. It was an unmitigated disaster. A small sample.

(BEGIN VIDEO CLIP)

JOE BIDEN (D), PRESIDENTIAL CANDIDATE: Excuse me.

UNIDENTIFIED MALE: You know, you're supposed to cough and your elbow. I don't know, sir. I learned that actually covering your White House.

BIDEN: Actually, that's true but fortunately I'm alone in my home. But that's OK.

We have to take care of the cure. That will make the problem worse no matter what.

Why doesn't he just act like a president? That's a stupid way to say it.

UNIDENTIFIED FEMALE: Donald Trump was asked --

BIDEN: Sorry.

UNIDENTIFIED FEMALE: Go ahead.

BIDEN: No, no, probably best I don't.

I just can't figure the guy. It's like, I don't know, it's like watching a yo-yo. I shouldn't have said it that way. It's like --

UNIDENTIFIED FEMALE: It feels that way. I want to ask --

(LAUGHTER)

BIDEN: Our secretary of state insisted, in this broke meeting up basically in terms of influence, that this be called the Luhan virus.

(END VIDEO CLIP)

HANNITY: Oh, boy. Good news for Biden, maybe no one paid attention. A viewership for his virtual happy hour this week, 2,800 viewers.

Just breaking tonight, Biden caught in another lie because it turns out Biden-Obama sought millions in CDC funding cuts, completely undercutting Biden's smears and lies against President Trump, which are saving thousands of lives, of course.

Now, Biden was asked about those moments ago. He didn't have a good answer. Take a look.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Should the Obama administration done more to replenish the supplies and preparation for future outbreaks?

BIDEN: Well, we -- we spent a lot of time -- I was not part of it -- our administration spent a lot of time working with the incoming Trump administration and laying out exactly what could happen with the future pandemic.

(END VIDEO CLIP)

HANNITY: Oh, boy.

Reaction, FOX News contributors Tammy Bruce and Jason Chaffetz.

Tammy, 60.8 millions Americans got that virus, hundreds of thousands hospitalized. By the time Obama and Biden themselves declared a national emergency, a thousand dead Americans, lost 13,000 Americans in the year, tens of thousand contracted it, and the media, we didn't have the death count. We didn't have contracting counts then.

Why is it different now? That was a pandemic. This is a pandemic.

TAMMY BRUCE, FOX NEWS CONTRIBUTOR: Yes, obviously, it sure is. And obviously there is bias. There is protection then.

I think what Joe Biden is experiencing now, which is a little surprising, even in that first debate when Kamala Harris went after him, was the fact now that questions are being asked. And mainly because some of the media, they have a candidate they prefer other than Joe Biden.

But what's fascinating too and why his week was so bad, he was trying to hide is that there really is no competition for Donald Trump. In the other problem the Democrats have is they have spent over three years lying to the American people about the capabilities of Donald Trump, and now that he has daily, unfettered, unfiltered ability speaking to the American people, dealing with a major crisis for all of us, they are finding out how much they've been lied to. That's why his numbers have gone up so considerably.

And then, of course, you've got the issue with Joe Biden, is that there is never really been any real leadership. The Democratic Party knows it. And then they complain that, you know, they're getting blown out by Donald Trump.

But the fact of the matter is, look, I opted to remain in Manhattan. We are reaching the world here through modern new technology, for me from my apartment. Joe Biden has every capability of reaching people if they were interested, and the Democrats have to worry about a lack of enthusiasm, which is what we've seen, obviously, the poor numbers he's been experiencing online.

HANNITY: Again, he got -- he got it wrong again. We hold these truths to be self-evident, et cetera, et cetera, endowed by their creator, no, endowed by the thing, the thing.

All right. Jason, I don't care, but whatever term you want it, this guy is lost in space and it's a little scary.

JASON CHAFFETZ, FOX NEWS CONTRIBUTOR: Every day that he wakes up and they turn on the cameras is a bad day for Joe Biden. I mean, this person was elected to the United States Senate in 1972. I was barely starting to play soccer then.

He is all about yesterday. He has no vision for the future. And I've got a beef with you, Sean Hannity, because I had to watch part of that town hall to come here and talk about it.

Let me tell you, it's an embarrassment because he likes to do numbers while there's two things here, and then he starts -- and he loses count. And then he has to go back to number one, in one question he went to number one three times. It's just --

(CROSSTALK)

HANNITY: This is my favorite moment. He's doing the town hall thing and then, all of a sudden, he forgets he is on camera and then he's like -- he starts talking, walks on camera -- I mean, this is not.

Tammy, this is serious now. This is president of the United States. He needs strength, stamina, mental alertness. You need to be sharp.

BRUCE: Well, look, and this is important because the Democrats, it is very hard to believe -- and look, the 2020 campaign has essentially been put on hold, right? But in the traditional way, the traditional rallies for Donald Trump have been put on hold.

But the Democrats I think still are looking for a way to get out of this, and it doesn't mean they even have the brokered convention in a classic sense. Someone could step up close to whenever they have their convention, if they're still able to do it, and say, look, he's got -- we agree he's got to go, his family wants him to withdraw --

HANNITY: Oh, they're going to steal it from him.

BRUCE: And watch out -- watch out for someone like Cuomo, who thinks he's the one who can beat Donald Trump. Watch out for that.

HANNITY: Yes, the guy that did no preparation for any emergency.

BRUCE: Yes.

HANNITY: All right, thank you both.

BRUCE: Exactly.

HANNITY: When we come back, the mob and the media keep contradicting themselves. We want to see Donald Trump, until he does really well, then we want to stop seeing Donald Trump. We had a new poll, the American mob at its lowest raising ever. We'll share that next.

(COMMERCIAL BREAK)

HANNITY: Despicable media mob have been exposed while Trump's approval rating increasingly dramatically during this pandemic, because of a sound leadership. According to a new Gallup poll, well, the majority of the American people do not trust the mainstream media.

Here now is the host of "No Agenda", Lara Logan, and foxnation.com, and the co-host of "Outnumbered", "After the Bell", Melissa Francis.

Let's start with you, Melissa.

You know, back in little old 2007, nobody would vet Barack Obama except -- I was one of very few, and they didn't like me for that and I said journalism is dead. I would say it's dead, gone, buried, rest in peace.

MELISSA FRANCIS, "OUTNUMBERED" CO-HOST: Well, I think you might be right about that, sadly, but I would say that I think lots of Americans right now are not listening to what the mainstream media is saying because they are more concerned about what's going on -- first of all, with the virus -- and then how we're going to get past that and how we are going to get our economy going again and how they're going to feed their families and provide a better future for their children.

I think what you would want in that respect is not the team that brought us out of the last recession. We could've had a big V-shaped recovery but instead, the types of incentives and stimulus and things that the Obama administration and Joe Biden for that matter put out there created the most anemic, worst recovery ever on record, and that's mathematically true according to the Federal Reserve.

So probably what they are thinking about is who is going to lead us out of this disaster and back into prosperity and a great economy again. You had Larry Kudlow on earlier. You know, I sat next to him during the last crisis. He had the answers last time around. Now, he's in the right place to do something about it.

HANNITY: Lara, let me go to you.

You know, you got Joe Lockhart, fake news CNN, attacking Dr. Birx, who is working night and day. Trump Kool-Aid drinker and I'm like, who the hell is this jackass, you know, to go after her? And it's perfectly acceptable, she's working 24/7 to help the health of the American people?

LARA LOGAN, HOST OF "NO AGENDA WITH LARA LOGAN" ON FOX NATION: You know what I did, Sean, before I came here tonight, I sat -- I looked at CNN and I looked at MSNBC and looked at the newspapers, and the thing that I was struck by, you know, you mentioned that poll, that poll represents -- you know, it's an average of three nationwide polls, that represents real people.

And so, what it means at the very least is that a lot of people in America don't see it the way these news organizations see it because they're only presenting a negative view. I scanned all those pages online and there was no -- there was a very little balance, little to no balance whatsoever.

And I'm conscious of that, you know, as a journalist, because that's not our job to pick a side. And in real life, it's never all bad, right? Even Obama, I bet you could find things about him that you thought he did pretty well. So it doesn't reflect --

HANNITY: Not a whole lot.

LOGAN: What happens normally, no. I wonder if you would feel the same about it if they admitted that they were biased, that people said, OK, liberal bias versus conservative bias. Would you be as offended by it? Because they don't want you to have that conversation. It's the truth versus conservative bias.

HANNITY: I got to run.

It should be, and they are scaring the crap out of the American people and just use it as a political weapon.

Closing thoughts, next.

(COMMERCIAL BREAK)

HANNITY: Hey, quick programming note, Sunday 9:00 p.m., FOX and iHeart Media -- I work for both of them -- they've teamed up, living room concert for America to pay tribute to all of the medical professionals who so deserve it. It will air on all FOX platforms and iHeart platforms. Sir Elton John hosts.

All right. We'll always be fair and balanced. Let not your heart be troubled.

Laura Ingraham is up. Have a great weekend. See you Monday.

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