TAPPER: So, many of us have been making this point for months, as you know. You can't reopen the economy without the virus contained. You, President Trump, others at the White House pushed for the economy to reopen. We did. And now cases have skyrocketed, and the economy appears to be taking yet another hit. Isn't it clear that the country reopened too quickly, wiping away the progress that had been made, prolonging harm to the economy?

KUDLOW: Well, Jake, I don't know. I mean, there's a lot of generalizations there. First of all, I don't think the economy is going south. I think it's going north. And I think that there's a bunch of indicators. Let me -- let me just -- let me focus on that. I know something about that. You're in a housing boom right now. You're in a retail sales boom right now. You're in an auto car boom right now, manufacturing. Look at the ISM indexes. All are booming. New business applications are skyrocketing. Apple mobility index is very strong. And the jobs picture remains strong.

There was a number, unemployment claims, last week that slipped, but it was a seasonal adjustment problem. It was actually the lowest since early March. Continuing claims, which is going to predict the July jobs number out in a week or so, are the lowest they have been in almost three months. So, I don't buy it. Now, I will acknowledge that...

TAPPER: Yes.

KUDLOW: ... in some of these spiking hot spots, yes, absolutely, you're going to see a moderation of this recovery, no question. On the other hand, Jake...

TAPPER: But, sir...

KUDLOW: ... apart from Texas, Arizona, and Florida...

TAPPER: Yes.

KUDLOW: ... and California, where, by the way, Deborah Birx says there's some signs of stabilization...

TAPPER: Yes.

KUDLOW: ... the whole Northeast is over. Most of the West is -- I mean, the whole Northeast is open, and most of the Midwest, Jake.

TAPPER: Yes, apart from three of our biggest states...

KUDLOW: Well, OK, but you have got the entire Northeast section. You have got...

TAPPER: Apart from Florida, Texas, California. Those are some pretty states.

KUDLOW: They are big states.

TAPPER: Let me ask you about that data, because I want to say, the Census Bureau...Let me just ask you about this, because you want to talk about the data. The Census Bureau's new weekly survey, the Census Bureau's new weekly survey during the pandemic suggests job numbers have taken a turn for the worse. Our viewers can see. Let's put up the graphic in question, five. Our viewers can see, total unemployment is actually going down, suggesting the U.S. may have lost almost $7 million -- seven million jobs, rather, in the last month. Is it possible that the employment picture in the U.S. will look worse in July than it did in June? Is that possible, do you think?

KUDLOW: No, No, I don't believe so. I can't see your numbers, Jake, I'm sorry, sitting in this truck. But I will say this. You said total unemployment is going down. That is correct. The continuing claims, which lead unemployment, is falling rapidly.

TAPPER: Total employment is going down. Total employment is going down. Total employment is going down.

KUDLOW: Most people look at the Bureau of Labor Statistics that print out the weekly claims and the monthly jobs numbers. All right, that's what -- I haven't seen those Census numbers. And I don't know that I would put a lot of stock in it, but whatever.