Transcripts For FBC Cavuto Coast To Coast 20240714

There is no need to panic but is he really right . Billionaire tom steyer making it official, he is in the 2020 race after all, but could his billions lead to a backlash from democrats . After all remember what happened to the guy who founded starbucks . Stocks sliding as investors fear that maybe rate cuts are not a gimme or certainly as generous those rate cuts were thought to be a little more than a few days ago. Gerri willis at the New York Stock Exchange on what has investors spooked. Gerri . Reporter really, neil, a ralph of investor worries pushed down stocks this morning. The biggest concern the fed cuts rates at its july meeting. Jerome powell may give hints when he speaks to congress tom. Strong economic numbers created worry that the fed will back off a rate cut. Fed funds futures pricing in one rate cut later this month. Chances after quarter point rate cut . 93 . Tensions with iran taking a toll as iran threatens to extend the breaches of enriching uranium set out in that deal. Meanwhile the u. S. And china are moving tentativelily to revive trade talks. Chinese and u. S. Negotiators are set to speak this week but investors worry the issues snagging talks yet to be resolved. Closer to home apples shares were reach after a rosenblatt securities analyst downgraded the stock to a rare sell rating. Two other wall street analysts rate the stock a sell. After opening lower, the iphone maker shares have risen. Neil, back to you. Neil thank you very much. Growing calls for labor secretary of the United States alex chaos to go to resign because of a plea deal he arranged with Jeffrey Epstein almost a decade ago. What do we have, blake . Reporter we have a comment from labor secretary alex acosta. He just took to twitter moments ago, put out this defense, saying quote, the crimes committed by epstein are horrific. Im pleased new york prosecutors moving forward with a case based on new evidence. With the evidence available more than a decade ago, we insists epstein go to jail, register as section offender and put the world on notice he was a sexual predator. This is a important opportunity to bring him to justice. Democrats are calling for him to resign. The Labor Department saying acosta will not give up the post. Democrats want him to step aside for the nonprosecution agreement he oversaw with epstein and epsteins legal team a decade ago. Here is Chuck Schumer on the senate floor. As the miami Herald Editorial Board wrote this morning, it was not just that acosta failed to get it right in 2018, the evidence suggests he didnt care to. It is now impossible for anyone to have confidence in secretary acostas ability to lead the department of labor. Reporter Kellyanne Conway, counselor to the president was repeatedly asked today whether or not the president has confidence in his labor secretary. Conway would not answer that specific question. Instead she said, that the focus here should be on the accused. Epstein, not the labor secretary acosta. She also tried to draw some distance between the president and epstein. These charges as frenchry berman said in new york are unconscionable. They shock the conscience. I talked to the president this morning. He has not talked to or had contact with epstein in years and years, over a deck laid at least he said. He metal lex acosta. He is doing a great job. Reporter neil, back in 2002 citizen trump was talking about Jeffrey Epstein, called him quote, a terrific guy. He noted how epstein liked women, quote on the younger side. On the senate floor today, Chuck Schumer also said that the president needs to give some answers about those comments and his relationship to epstein. Neil . Neil blake, thank you very much. Blake burman at the white house. Meantime the rumble this time on the left, alexandria ocasiocortez, and Bernie Sanders, theyre pushing a Climate Change emergency declaration. The epa chief Andrew Wheeler defending what the administration has been doing on this. Take a look. 2. 7 uptick in green gas emissions from fossil fuel combustion in 2018 alone. Im wondering whether that start tells you . No, it doesnt startle me. Last year we had some upticks on manufacturing which increase energy use, very hot summer, cold winter, we reduced emissions 15 since 2005. Were on downward trajectory. Neil youre doing all this to suggest Climate Change, that is legitimate phenomenon. Is this a man caused one you think needs addressing, is that why you alluded to the data you just did . Man contributes to Climate Change, and man needs to address it. The law tell us. The Supreme Court tells us. Were following the law. Neil so he departs from his boss president of the United States on that very subject. More on that in just a second. To new york city republican councilman, joe borelli, jessica tarlov. The president is meeting with the emir of qatar. They are talking energy, opec, oil, many other things. They heighten up the antigens iranians. Well keep very close attention to that. You know, jessica, on the back and forth on the environmental issue, who is doing more to address it. Hearing wheeler, he doesnt carry the personal bag and that he does, but he does depart from his boss on Climate Change. I was surprised to see it. It is a rare departure i would say, especially on an issue that is so central to the president s, maybe it is chinese hoax, definitely not manmade. The number of regulations that they have been cutting, i think it is over 80 at this point at fiercesome pace contributing to the Climate Crisis. That is what Kamala Harris calls it. I think it is important to have people like that in the administration. To have the conversation that democrats are having what we can do to address it. That is what aoc and Bernie Sanders are doing with their climate resolution. Neil their climate resolution is something that even Party Leadership is a little leery of the time being, it could go too far. People will brand it too expensive. And this friction continues. Basically youre saying what will happen with this resolution is exactly happened with the Green New Deal. I mean all the Mitch Mcconnell had to do was actually bring it to the floor for a vote to show just how silly and unserious democrats are. This is not about being a champion for the environment. I think president laid out some point yesterday talking about the environment, talking about how to be responsible still allowing economic growth. What democrats want now neil you seriously say the president is champion of the environment . I think president is doing, they added 1. 3 millionacres of wilderness. You can go down point by point the few things president has done. He is trying to be responsible, not selling out economy for this panic over Climate Change. Imagine if we gave al gore a blank check to do anything he wanted to do visavis the environment based on his not too scientific prediction we would be all be living in huts by 2016. That is what democrats are after once again. That is what we should prevent. Neil one thing the president is trying to remind people, you can have it both. You can have solar energy. In prior speeches he talked about wind and all the rest, have it all, jump ball. He wasnt going to favor one over the other. Did he say that when turbines cause cancer . He said i love solar but i would encourage everyone to watch shep smiths show yesterday, live factchecking the president s comments on climate and there were a few whoppers to say the least. This climate resolution will go the same way as Green New Deal. It is nonbinding. Its a conversation starter. It will feed media narrative neil wheeler in our conversation dismiss ad lot of things that the New York Times raised quoting agencies that have vested interest. We can go back and forth. Absolutely. Neil i am wonder whether you think the administration is unfairly maligned on this subject . I tend not to find the administration unfairly maligned. Neil that is fox news alert. I had not seen the wheeler fellow. Nice to see people are in there. There are moments of common sense agreement. There are things that are indisputable. With we have to follow the law about this. Supreme court is clear about this the idea of finding a middle ground when the partys positions are represented by what President Trump is saying than what is wheeler is saying here. Wheeler is more compromising than scott pruitt is, who was other person in charge of all of this. I do think you come to an impasse democrats feel they have to drop the hammer about this, talking about the Climate Crisis all the time. Not a number one issue to americans, it is an issue matters. Neil an issue pricey to address, depending how deep you get into it. Starting as jessica said from middle ground when youre talking about a 93 trilliondollar cost. That is 600,000 per household. Neil alexandria ocasiocortez and sanders will be espousing . We dont know the price on that. Only the Green New Deal. No, look the Green New Deal had a lot of fundamental problems. Democrats will have a problem saving the environment when theyre on the back benches in congress. This is not something number with one priority, not number two. Gallup had it down to 15. Pew had it maybe 4 of people care about this as number one issue going into 2020. This is not an issue that will win back the white house for Bernie Sanders. It will give him momentum in the democratic primary but not something winning back the white house for the democrats. Democrats, polling that you were saying was general public. Democrats do care about it, more than republicans. That has been going on for decades. It is an important issue to be addressing. People would feel like their candidates for president would be remiss in ignoring this. We have jay inslee running a campaign on climate. Neil that is his whole thing. That is his whole thing. I thought he performed very well in the first debate with Elizabeth Warren. Hammering progress they have made in his state because of moving to wind power, solar energy neil i dont know if that is enough to close the deal. It is early. You can never be sure at this time, wasnt donald trump just coming out. 02 or something . Neil guys, i want to thank you very, very much. Ive been touching on this. I want to keep repeating it. Ross perot has died. A lot of young people around dont know hoe who he was, relatives might recall the weird quest for the presidency with nothing but charts and chip on his shoulder, with the notion that republicans, democrats, failed us not addressing how much money is going out versus how much money is coming in. That voice has been silenced. He is gone now, but what he championed should be an issue we should take up now. The idea of living on a budget. How about starting with proposing one . Well have more after this. I comparison shop for everything to get the best deal. Gas is 6 cents cheaper here. Sale rack no and, for loans, i go to lendingtree. Com. I wanted to consolidate my credit cards in to a personal loan to pay them off faster. Lending tree made lenders compete for my business and i ended up with a loan that saved me over 9000 and no more credit card debt. I mean 9000 its a lot of money. Lending tree, may the best loan win. 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I think the most recent one was 3 billion in apache helicopters. They also house over 11,000 troops at aludid. They also have a relationship with iran. I think what were seeing here is President Trump really on a diplomatic effort to secure that relationship and partnership with those that we have in the region, as this sort of iran situation continues to spin up. Neil amber, i have always worried, why should we commit troops and manpower, all of that, when theyre in the neighborhood, all of these guys . They would, you know, judging from the pretty bellicose response weve gotten from the arab league, what iran has been up to, let them lead that charge, what do you think . Well, i think that is an excellent point. I think that is what the American People have been wondering almost 19 years now. We do not want to get involved in any sort of excessive commitments to the middle east again, especially when it comes now to iran. I think what the white house needs to do right now is really hold the course. What they are doing is working. This maximum pressure is boxing iran into a corner and were seeing them act out. Weve seen them, sort of sabotage and intimidate with the shipping lanes. They were called out for it. Weve seen them enrich uranium for 3 1 2 level. Theyre reaching out to our european allies who decided to stay in the nuclear deal. They are hutting themselves taking this step. Now were forced to choose the United States or iran. Now they chose to stay with iran in the terms of the nuclear deal and iran chose to break that. Neil amber smith, thank you very much. I apologize with the breaking news. Well see what comes with the talks president is having. Were closely following nancy pelosi on that Citizenship Question on the census. She says forcing the issue proves the president is racist. This is about keeping, you know, make america, you know his hat, make America White again. They want to make sure that people, certain people, are counted. It is really disgraceful. I had no idea why my mouth was constantly dry. It gave me bad breath. It was so embarrassing. Now i take new biotene dry mouth lozenges whenever im on the go, which is all the time. New biotene dry mouth lozenges. Freshen breath anytime, anywhere. Neil how will this all go down . Neil, there is about a Million People in the United States who have removal orders, who have not abided by those orders and thats the pool from which they can choose. And, i dont know who theyre going to go after. I dont know where. That wont be announced beforehand, but it is unfortunate it reached a point where it is newsworthy i. C. E. Is doing its job. Neil that was top immigration official Ken Cuccinelli standing by these planned deportations. We dont know how many will be conducted. We do know it targets the roughly anywhere 650 to 850,000 whose cases have already been ajudicated. They have exhausted their legal limits. They have been told they have to go. Whether that is exclusively the group or it is smaller than that, anyones guess. The president s dhs chief, jeh johnson writes there must be a compromise. He was in Obamas Administration i should say. North Carolina Republican senator thom tillis what he makes of all of this. The senator will be visiting the border i believe with the Vice President on friday. Senator, good to have you. Good to be back, neil. Neil with jeh johnson there is another warning to democrats you have to get on the stick here, realize, not only is there a crisis, but youve got to be doing something to address it, just welcoming anyone and everyone into this country is not exactly the way to go. Im vastly simplifying what he said but what do you make of that message . I completely agree. This is somebody with a lot of experience with interior enforcement in the Obama Administration. When you send a signal to millions of people in Central America that you get here, even if you dont have a valid asylum claim, and it is deemed you should go back to your home country, no big deal, you are not going to go, that will make the crisis we have at the border go up exponentially. That is why we have to set politics aside and solve the humanitarian crisis and secure the border. Neil you know im always reminded of the law being on your side in this deportation effort as it was with Barack Obamas when he deported more than 400,000 in his final year. Right. Neil so there is that but now in this day and age where the Migrant Centers and the kids, everyone crammed into facilities, theyre going to be camera crews following this closely. Im always wondering if it will be another ilina gonzalez situation . The little boy who was told in the Clinton Administration you have to go back with your dad in cuba. He was taken and forced out of his home. The law was on the side of that raid but again, the pictures, the video, was seared in the american public. How do you avoid that . Well, we cant, in todays modern world where everybody has a camera, everybody, either, really wants to get to the facts or really wants to get a political agenda that is a risk well have to take. The fact of the matter is, we have a crisis at the border. If we send a signal that we cant do it because of the optics or because a mistake will be made, when youre talking about these numbers, youre almost certainly going to make a mistake. If 99. 9 successful, but we have to do it. If we send a signal that millions more can come, were already overcrowded in the detention centers. We need to send resources down there. We need to step up deportations for people who are deemed should go back to their host countries. We need the democrats to check politics at the door to work with a solution to help the administration and end the humanitarian crisis at the border. Neil switching gears, i would be remiss if we go to white house very shortly. The president meeting with the emir of qatar. Obviously iran is on the table there as an issue. What do you think he should do . Well i think the president s maximum Pressure Campaign is working like the prior segment that you had here. We have got to keep the pressure on iran. What were doing is working. The iranian people are tired of the dictators, the mullahs that theyre serving under. I think theyre a peaceful people. Their leaders are the problem and we need to make sure, first, that we protect our forces deployed in the region, protect our partners and allies, and give the president a fair amount of latitude to demonstrate that the United States is not going to stand for a rogue nation like iran. Neil do you think, if they dont get the message, we have no other choice but to get militarily involved . I think that iran is, theyre always looking for an opportunity to declare a win. I dont you will ever see an instance, so long as iran doesnt take offensive act that you see the United States act first. We have to be prepared to respond, respond quickly to any attack on american interests in the region. Neil senator, thank you very much, senator tillis. The president meeting with the emir of qatar. A highly respected man a real leader in a large part of the world, very important part of the world. Weve known each oat for a long time, weve been friends for a long time and were doing a lot of work. Theyre investing very heavily in our country. Theyre creating a lot of jobs. Theyre buying tremendous amounts of military equipment including planes and theyre buying commercial planes as you know, very large numbers of commercial planes from boeing and we very much appreciate it. Well be signing a document today, a very large transaction. Youre going to be invited to the signing. Its a transaction that will be purchasing a lot of boeing jets and a lot of money spent in our country and that means a lot of jobs so we just appreciate everything. We have a great operation, military operation right now in qatar. They built one of the great military bases i would say anywhere in the world. It has been expanded with runways and everything else. This is great honor to work with my friend and thank you for being here. Thank you. Thank you very much, mr. President. Thank you very much for your hospitality. As you mention we enjoy a great relationship between qatar and the United States of america. Were doing a lot together. As you mentioned the president , were signing a few documents today. We are the partnership is more than 185 billion. Were planning on doubling the number. We do a lot with the infrastructure and planning to do more investment. We host our base and we work very close together. Youre invited to see qatar and visit the base at anytime, mr. President. Really enjoy the personal friendship with you. Thank you very much. Thank you very much. I will say the basis incredible. What they have done there absolutely, a great place to have it right in the middle of the middle east. Obviously its a very important location. So thank you all very much. Thanks . Reporter any reaction to the subpoenas of Jared Kushner and other members of your administration. I dont know anything about it . Reporter are you about iran. How long will you take before you see the iranians well see what happens with iran. Iran is doing a lot of bad things. They better be very careful. Reporter right now [inaudible] i met secretary acosta, first time i know, when i made the deal to bring him into the administration i can tell you that for 2 1 2 years he has been just an excellent secretary of labor. He has done a fantastic job. Part of it is our economy is so good. Our unemployment numbers is at record lows. So many good things are happening but the fact he has been a very good secretary of labor. What happened 12 or 15 years ago with respect he was a u. S. Attorney, in miami, was it miami . Reporter yes. If you go back and look at everybody elses decisions whether u. S. Attorney or assistant u. S. Attorney or a judge, you go back 12 or 15 years ago or 20 years ago, look at their past decisions i would think you would probably find wish they made did it a different way. I do hear that there were a lot of people involved in that decision, not just him. I can only say this, from what i know and what i do know that he has been a great, really great secretary of labor. The rest of it well have to look at. Well have to look at it very carefully. Youre talking about a long time ago. Again it was a decision made, i think, not by him, but by a lot of people. So well look at it very carefully. Well be looking at that very carefully. Okay . Anybody else . Reporter Jeffrey Epstein was a terrific guy . I knew him like everybody in palm beach knew him. Everybody in palm beach knew him. He was a fixture in palm beach. I had a falling out with him 15 years ago. I was not a fan. A long time ago, say maybe 15 years. I was not a fan of his, that i can tell you. I was not a fan of his. I feel badly actually for secretary acosta because ive known him as being somebody that works so hard and done such a good job. I feel very badly about that whole situation but well be looking at that, and looking at it very closely. Were also going to be signing a big contract in a little while. So were going to see you in a little while in a different room, in a different part of the white house where well be signing up a big deal with boeing. Thank you very much. Well see you in a couple minutes. [shouting questions] press, make your way out. Press, lets go. Neil never say listen here . Dont let the door slam on the way out. The president is standing by alex acosta, labor secretary, a top prosecutor back in miami at the time when Jeffrey Epstein was first arraigned, had what some argued was a pretty cushy punishment deal where he could leave the jail he was housed for six out of seven days, continue his work. The president outlined a falling out he had with the billionaire entrepreneur. We dont know the source of that. We do know they were Close Friends in the early 2000s. Epstein was a member of maralago, the president s club in west palm beach. But standing by his labor secretary and saying that he is not getting enough credit for the good job he has done as labor secretary. Doesnt know all the details that transpired into how he handled the epstein case back in early 2,000s. Fox nation liberty file host judge Andrew Napolitano on where this could be going. Theyre unearthing all of that as you know, judge, what he knew, when he knew it. Was this a cushy deal that could have been avoided, what do you think . Well the cushy deal was not so much 13 months in a state prison and guilty plea in a state court as it was the agreement not to prosecute him in federal court for the federal crimes which were substantial which would have exposed mr. Epstein at the time had he been charged, had he not entered into the agreement with the u. S. Attorney who was mr. Acosta at the time, to about 45 years in jail. The same time period that he is now exposed to for the charges, the same charges that are now being filed against him that were filed against him yesterday here in new york. The federal prosecutors in new york are taking the position that the agreement that acosta signed not to prosecute epstein only bound acosta and his successors in miami. It does not bind other federal prosecutors. But think about this. There are two teams of federal investigators here in new york on the epstein case. One is the sex trafficking team. One is the public corruption team. Now public corruption means investigating a person who holds office for act of corruption. Who could that be . It can only be the secretary of labor. We dont know this to be so. I was kind of surprised, jeff berman the u. S. Attorney here in new york very candidly on public corruption, dont read anything into it. They dont investigate sex trafficking unless there is some connection with a public official. As far as we know the only sitting public official with any connection whatsoever to this is the secretary of labor. Neil now at the time, would he have had the power to widen this out beyond what he did . Talking about acosta . Neil yeah. He would have the power to bring all the evidence to a grand jury to seek an indictment. He is probably prepared to argue there were defects in the proofs. The girls might not have been credible. Their memory might have faded. If you compare their credibility to epsteins credibility, he was more credible than those. I am just guessing. Neil office welcomed expanded investigation, hinting that he, at the time had no idea something as widespread was the case . He should have known and fbi should have hard to believe they did not know these event were taking place outside of miami as well when came up with this agreement. Neil why didnt come up with the nomination hearings. It did. He basically said, there is a lot of reasons for not prosecuting t wasnt just me. It was my team that recommended to me, im paraphrasing mr. Acosta at the time of his confirmation hearings. I looked at the clips yesterday. My team recommended to me there were problems with the proofs. We couldnt prove the cases. We got something out of it. We got him into a state jail. We got him to register under the sex offender act. I dont know what it is called, in jersey it is megans law. It has a different name in florida. He was registered sex offender. That is the most well get out of it. In hindsight that was so incredibly lenient, it was negotiated in a Marriott Hotel between two people. It wasnt negotiated in a Federal Office Building where these things usually are with many witnesses to the negotiations. So all these little aspects to it are raising antenna like, is there something untoward that happened . Was there some wink and a nod, not put down on paper that the parties agreed to but we dont know about today . Neil so when his office, he himself is pleased new york prosecutors are moving forward with the information they have now, seems to hint he did not have the information back then, he had a lot of it . He had a lot of information back then. Quite frankly, since then, the law has changed to remove the statute of limitations forever on sex trafficking. Neil right. The new york prosecutors dont have a slamdunk. They have to argue this is not the same case. They have to argue the statute of limitations was not changed retroactively. I dont know how they get over that. Neil, epstein flying into teterboro airport, do you think he knew they were waiting for hill . You know the Associated Press reported that his lawyers made a plea deal to the u. S. Attorney. I dont know how they could have done that unless they knew he was being investigated. Neil all right. He did not appear shocked when he saw them at teterboro. Neil it is weird. Judge, thank you very, very. President will be going back to the white house when he irons out the deal he has got with the emir of qatar. It will benefit boeing, i can tell you that. Well have more after this. Hi im joan lunden. Todays Senior Living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. And theres never been an easier way to get great advice. A place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. A place for mom. You know your family we know Senior Living. Together well make the right choice. Neil the markets have ears, dont they. Boeing shares erasing all losses when the president piped up moments ago a deal that could involve qatar, that would involve boeing. Perhaps a big plane order from qatar, a very big oilrich kingdom. That we could get the details within the next hour or so from the white house. Boeing completely reversing losses that were getting ever so steep after it lost a big plane order to rival airbus. Were monitoring that very closely. Meantime a judge blocking the president s rule requiring Drug Companies to list prices in tv ads. Deirdre bolton has latest on that. Reporter neil, the rule would have mandated drugmakers that feature their prices in tv advertisements. Ads a key part of marketing for the pharmaceutical companies. A few sued the government last month to block the proposed regulation. So merck, eli lilly, amgen, a trade group for advertisers brought the suit. Lily spokesperson says the company is happy with the judges ruling. More than likely there is going to be a bit of pingpong playing here, because the government will continue to fight issues in the courts. Trump advisor Kellyanne Conway says the president is not a quitter. He is very fond of the rule that would compel drug manufacturers to list their prices on tv. She asks, what are they hiding . We want transparency. 88 of voters by the way, favor a Government Initiative mandating that insurers hospitals, doctors, other providers disclose the costs of their services and discounted or negotiating at rates, according to a survey. The center for american Political Studies did it at harvard. It was done in conjunction with the harris poll. According to our proprietary research, neil, we remember as we were covering the midterms elections, health care is the number one most important issue, nothing to do with party. This is the one apparently people did vote on, will vote on in 2020. Neil, back to you. Neil it is an important one, deirdre, thank you very much. Deirdre bolton. Charlie gasparino has breaking news from sun valley the annual Media Conference that gets a whole lot of attention worldwide. Charlie, what do you have . Im not arrested yet. Neil that is a good beginning. Although i see a lot of security around me as im reporting. One of the big stories here will be there are a host of midsized Media Companies literally shopping themselves. They are literally shopping themselves here. Lions gate, sony, discovery, univision have representatives here. There is shopping spree for these companies. They are about five billion dollars in market cap. They are all here. Here is one problem that they have, im getting from people at the conference. There is not a lot of buyers. The firms likely to pick them up, again, from people here, this is all projection, but it is pretty good projection, speculation, are the Tech Companies. This is the problem with media right now, neil, with cordcutting, vast industry trends, Tech Companies have the cash, at ts of the world dont. They have already, they have already mergerred up. They have antitrust issues, discovery or [inaudible] Tech Companies who are just waiting for these companies, these Midsized Companies sensely to go down in price. I dont expect a lot of deals to actually consummate at this. There will be a ton of talks here. The head of discovery is here, open to a deal. Everybody in media is open to a deal. Cbs and viacom will also have a deal at some point a lot of people say. Again as Shari Redstone merges the two companies together she is here. They will look for a seller. So, these are, who will be the buyer . Not going to be at t. It is not going to be some other telecom company. It will not be dish who is embroiled in the tmobilesprint merger. It is likely to be google, amazon, you name it, apple, places with the money looking for content but theyre looking for the price to go down. What im hearing here from sun valley until i get thrown out, neil. Back to you. Neil i live for those moments, charlie. Be safe. [laughter] neil you are in a beautiful locale. Charlie gasparino there. Talk of minimum wage could go up and soon on a federal level but that could put a lot of people out of work in the process. Well explain how that works after this. This is about thing, you know, make america, you know his hat . Make America White again. They want to make sure people, certain people are counted. It is really disgraceful. Neil everything is racist, right . Speaker nancy pelosi, slamming the president over the census, suspecting that maybe what he is really up to is white only america that doesnt keep accurate count of minorities, but the fact is, that when it comes to census questions, a lot of countries, western powers all, ask this very question, including australia, canada, france, indonesia. There is also ireland, germany, spain, the United Kingdom. It is just accepted as among the many questions that are part of one line after another that goes through on far more detailed census questions that we have in this country. The Congressional Budget Office is reporting that 17 Million People are going to see a boost to a 15dollar minimum wage if the feds make it official on a federal level but in the process a Million People will lose their jobs. To the National Taxpayers union senior fellow, Mattie Duppler on that. Even with that, mattie, people say if we get a net gain for that many, we can deal with the net loss. You say . Right. So the cbo report out yesterday shows us what the cost is of increasing that minimum wage. Youre right, neil, some people say no matter what the cost is, it is worth a Public Policy change. I would argue otherwise, given what cbo told us yesterday. They told us what we already know, if you make something more expensive you generally get less of it. Cbo said if you increase the federal minimum wage to 15 an hour, you will see 1. 3 million shed as a result of that. The distribution of effects of this policy is really important. We talk about how this will help workers, a lot of talks from proponents, how it will help low wage workers. Those are the people who actually stand to lose under this policy, because it creates unstable commercial environment. And in turn, the jobless are the ones who their prospects for employment certainly narrow if the minimum wage is higher. Neil so you know, if you think about it, mattie, in a lot of cities and states, i mean jobs go begging if theyre not 15 an hour. It is already happening but it is based on market. Some states obviously forced this higher minimum wage but ultimately it is just supply and demand, need for workers, theyre all competing with each other, with the highest wage to attract those workers. You dont need the federal government strongarming this, do you . That is exactly right. There are two points that are important. A federal minimum wage ignores differences in communities across the country. Great thing about the United States, our job markets look a lot different depending whether youre in california or wisconsin. That is a good thing. Look at the general state of the economy. The fact you have a robust labor market now, millions of jobs are open, will force employers to start paying more for jobs, regardless of if there is a federal mandate to do so. In effect because the new minimum wage would create a mandate businesses would have to comply with it, would create pressures otherwise that would really affect workers at the lower end of the spectrum. This stands in contrast what were seeing right now. Workers at bottom 10 seen faster wage increases in the economy than the workers at the top 50 . That is good thing. A tight labor market and robust economy. Lack of barriers to employment, rather than increasing minimum wage. Neil i wonder where it goes . It seems after the fact, a number of president ial candidate who see 15 as a minimum, not the goal. That is right. That always question for minimum wage proponents . Why 15, why not 100 . If we as sign a value for labor, proponents of minimum wage need to explain what the appropriate goal for that . The other thing people should keep in mind. Workers are consumers as well. Cbo said this will increase cost of consumer goods because businesses have to offset costs somewhere. Consumers stand to lose 39 billion in their own income paying increased costs with increased minimum wage. That hits those on the lower rungs of ladder as well. Neil mattie, i dont mean to switch gears, i want to get your take, back and forth over the census question. Everything devolves into racist argument. Dont mean to get you involved on this one, it is not a racist argument in the United Kingdom and ireland, across the globe, who have similar questions in their own census versions out there. You know dozens, we listen to more prominent ones, a lot of liberals and democrats point to as role models. Their role model is it is important to include. We used to include it. It was taken out of the last census. There was no fuss about that, but a big fuss returning it. You heard nancy pelosi go for the throat on her criticism of including that question on the census but the fact of the matter is, democrats have a really tough road to explain why this question shouldnt be included it was included at one time before. As you mention a lot of countries include similar questions on their surveys. The problem with the criticism, if you ask most people in the United States whether or not this question should be on the census, they think it is pretty unquestionable, taking survey who is in the country, taking stock who is here legally and who is not. The criticism making sure we have correct data and appropriate data, making sure that people can respond to that, not feeling like they cant respond truthfully to the census is an important one. That is a question we should be looking at and scrutinizing regardless whether this certain question is included on the census. That certainly has a broad effect in the next coming years, not only social spending programs, congressional distribution for seats in states. A big question that affects Public Policy in the coming years. Neil one argument, do you think anyone who is illegal will answer that question . You could say that whether the question is there or not. You will not volunteer to fill out a census form anonymous or otherwise. Seems like all circulated into craziness. That is true. The census, we need to remind people, even though most folks in the United States only see the census crop up every 10 years, the census does hard work all day, all year long to make sure we have the appropriate data to understand appropriate trends in this country. We understand the protocals in place. People feel they can trust in the system. They feel they can answer the questions truth fully. The more democrats raise the question that it is malicious, rather than an attempt to get right data who is living in the country, the more the stakes rise. The more were liable to see whether census questions are answered. Neil i think politically we erase the argument when we get silly. We default to racism or default theyre evil or the other side saying theyre clueless, you solve nothing. That is just me. No question about that, neil. As soon as you start to say that the malice is aforementioned motivation for the other side, you have lost the argument. Neil youve done it. Mattie, thank you very much. Dow down 77 points. Well tell you why after this. Corey is living with metastatic Breast Cancer, which is Breast Cancer that has spread to other parts of her body. Shes also taking ibrance with an aromatase inhibitor, which is for postmenopausal women or for men with hr her2 metastatic Breast Cancer as the first hormonal based therapy. Ibrance plus letrozole was significantly more effective at delaying disease progression versus letrozole. Patients taking ibrance can develop low white blood cell counts, which may cause serious infections that can lead to death. Before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection, liver or kidney problems, are pregnant, breast feeding, or plan to become pregnant. Common sideeffects include low red blood cell and low platelet counts, infections, tiredness, nausea, sore mouth, abnormalities in liver blood tests, diarrhea, hair thinning or loss, vomiting, rash, and loss of appetite. Corey calls it her new normal, because a lot has changed. But a lot hasnt. Ask your doctor about ibrance, the numberone prescribed, fdaapproved oral Combination Treatment for hr her2 mbc. Neil all right. One out of five Deutsche Bank workers are facing unemployment in these eerie scenes that are similar back to the time of the meltdown, producing a summer bummer for banks that no less than the Federal Reserve chairman is addressing as we speak. Meanwhile, home depot facing a boycott over the cofounders continuing support of donald trump. Hes not really made that a secret but suddenly the word has gotten out. Forget about Baseball Players juicing. Is Major League Baseball juicing baseballs . The second hour of coast to coast starts right now. Neil ahead of his twoday testimony before congress, fed chief Jerome Powell is discussing the health of banks, more or less saying he doesnt think there will be a repeat of the meltdown that had so many of them cascading down and they all needed a big old rescue. Hes watching it. Where is the fed head at right now . Good afternoon. Fed chair jay powell in prerecorded remarks at a conference at the boston Federal Reserve says stress tests need to evolve to safeguard the system, otherwise we risk complacency and a Financial System not able to withstand an unexpected crisis. Banks will need to be ready not just for expected risks, but for unexpected ones. Thus, the tests will need to vary from year to year and to explore even quite unlikely scenarios. This year, the fed made many changes to the tests, notably subjecting less complex banks to the test every other year. The conference comes just after the fed administered its ninth round of annual tests that show they have enough capital on hand to continue lending to households and businesses through a severe recession. Chair powell spoke ahead of what will be his widely watched testimony on capitol hill on wednesday and thursday. Neil . Neil thank you very much. In the meantime, what is more important to investors, its always a tugofwar between a Strong Economy which everybody likes, but not if it means the Federal Reserve has to postpone cuts to Interest Rates which apparently a lot more investors like. Its weird, right . Fortunately we have a weird panel. Actually a genius panel to make sense of it all. Talking about chris wilson, former dallas fed adviser Danielle Dimartinobooth and david munson. Thats one thing i cant quite figure. Youre strong and you run with that but if its too strong and lessens the likelihood the fed presumably cuts as much, or maybe not at all in this goround, then everyone starts selling. Why . Well, i think the markets are spoiled and i think the markets have been spoiled for a generation now at this point, since greenspan started placating them. I think more to the point, if you are asking the question about whether the economy is strong or not, yes, the strong headline figure that came out friday morning, the strong headline jobs figure, that gives powell cover to not have to raise rates by 50 basis points. Neil the unexpected 224,000 jobs. All that. But underneath the surface of that data, things are weakening. We saw job openings come in weaker than expected just this morning and we are seeing things like multiple job Holdings Rise to the highest level since 1997. There are things that even the feds own model, the new york feds recession probability model hit 33 yesterday and it made all the rounds because the last time it was that high was 12 years ago, when we were in recession. Only one time in the late 1960s was the indicator this high and the economy not in recession. So powell and his colleagues at the federal open Market Committee really have to start contemplating whether the economy merits on its own the rate cut, not whether or not the markets are throwing a hissy fit for it. Neil all right, but youre still kind of doing the markets bidding, arent you . Yeah, you are. I think shes exactly right. This goes back all the way to greenspan. I have been talking with clients about that famous cut in october 1998 out of nowhere. I dont blame the markets. I dont blame investors. Theyre spoiled because they have come to rationally expect the fed will be there but in this particular case, there isnt a logical scenario, 3. 6 unemployment, 3. 1 wage growth, substantial improvement in Labor Participation force. At the end of the day, unless they are going to rationalize it with this socalled insurance cut which is a term i prefer to never hear the rest of my life, at the end of the day, it only makes sense. I think a quarter point, not half a point in july but i think they will do another quarter point in september, and its unfortunate because they have to get off of it at some point. They either lose dry powder when a recession comes or neil they dont have a lot of wiggle room. Thats right. Neil separately, the issue of pressure from the white house to keep saying you guys are losers, i regret hiring Jerome Powell in the first place, if i could fire him or demote him, i would in a minute. Larry kudlow today saying no ones thinking of canning the guy just yet. I mean, its getting whacky. Well, the president understands that his best hope for reelection, best bet for reelection is a continued Strong Economy. So he feels neil the economy is strong. The economy is strong neil data points notwithstanding. I think the concern is if you dont cut right now, does that give the opportunity or the excuse to do a raise later. I think thats what hes guarding against, because it is as you continue to chug along and create jobs, the average american doesnt Pay Attention to the percentage recession probability out of the fed. They Pay Attention to whether or not theyve got a job and whether or not their paycheck allows them to go out and spend discretionary income. I think thats the secret between maintaining that between now and november 2020 is whether or not donald trump gets reelected. Neil leading the wild card of iran out that we could go to war in the middle east and the world ends, hopefully none of that occurs, the more practical immediate concern is china, right . So if we get a deal with the chinese, arent we further pushing back the need to even think about cutting rates . Well, i think that that would certainly be how the markets would view it, though who knows if they price out that rate cut because now everybody absolutely wants to have it. But again, if you talk about iran, if you talk about china, these are overarching theres just huge uncertainty weight on the market and they really do need to be lifted because every day you wake up and youre like okay, whats the tweet going to say today, whats the president going to say today. Neil this is nothing like that. This is just no, but i think given how complacent investors have become, they are uncomfortable even with the little bit of volatility that we have seen in trading the last few months. I think they just want to see hockey stick. They just want to see every day the market closes up, period, move on. Neil maybe what theyre looking at is whats happening at Deutsche Bank and the fear, even morgan stanley, what happens there, thats endemic of what the world is looking at. I thought that was a mistaken leap, the impression seeing these guys walk out of the building with all their belongings, tell me that doesnt harken back to images from the meltdown. Do you see that as a legitimate threat . Not in something that should be impacting Monetary Policy. You cant set Monetary Policy around tail risk. At the end of the day the european banks are effectively zombie banks and have been for a decade. This is a threat that has been there since at least 2011 that we have known about. The Deutsche Bank neil you need deutsche around, dont you . You do. This is really the kind of unfortunate measure to have to be taken to keep it around although i keep asking do they have to lay off 20 of their work force, how come they did a lease last year to the most expensive building in manhattan. Neil good question. Thats a very good point. Do you think the financial institutions, obviously the fed chairman was touching on it, that they are in relatively good shape . You know, you cant really plan insurance or otherwise for Something Like what happened more than a decade ago, but hes more or less saying stress test, all of that. These guys are okay. I think your point about a decade ago is an important one. When we look at, i think you have to separate out u. S. Banks versus those in europe. Its unclear whether Deutsche Bank is the First Casualty of a new global downturn that may be more centric in europe or the last casualty of the Global Financial crisis from a decade ago. That to me is where the concern is. It might be the case that Deutsche Bank just tried to hold on too long in a way that they were able to survive through what a lot of global banks adjusted and they didnt make the same adjustments. Neil we will get into the campaign of ross perot. No Third Party Candidate in our nations history ever garnered that amount of attention and all throughout, experts were dismissing what he was talking about, talked about the debt as a bummer, no one will care no matter how fancy your charts are and you are too short and look too weird. That was then. The impact of this guy from texas who became the billionaire warning how we are throwing away billions more, after this. Hey, who are you . Oh, hey jeff, im a car thief. What . im here to steal your car because, well, thats my job. What . What . . What . laughing what . . What . what . [crash] what . haha, it happens. And if youve got cutrate Car Insurance, paying for this could feel like getting robbed twice. So get allstate. And be better protected from mayhem. Like me. Wanna take your xfi now you can with xfi advantage. Giving you enhanced performance and protection. When devices are connected to your homes wifi, theyre protected. Helping keep outsiders from getting inside. And if someone tries, well let you know. So you can stream, surf and game all you want, with confidence you can get coverage where you need it most. Thats xfi advantage. Make your xfi even better. Upgrade today. Call, click or visit a store. The American People are only willing to sacrifice and pay more taxes to clean up the mess washington has created for our children and our grandchildren. The American People have no interest in paying more taxes to increase spending in washington and to continue increasing our National Debt. Heres what youre going to do. Youre going to sacrifice, pay more taxes, the budget will not be balanced, the debt will not be paid down, and spending is going to go through the roof. Neil that very stern warning garnered 19 of the vote in 1992, something that no Third Party Candidate has ever done in history, and something his son would tell me years later was a game changer. My fathers very focused on the debt, as you said. My fathers a great visionary. He was early on this subject. I wish we could have fixed it 20 years ago, it was a 4 trillion problem. Its now a 16 trillion problem. We have to fix it now. Lets go to work and build this country, pay the debt off and have a great future for our children. Thats what my father wants and thats the game plan. Neil we have chris back with us, danielle and david. David, i will begin with you on the legacy of ross perot. If you think about it, he did all the things youre not supposed to do when you run for president , bum people out, use a lot of charts and just warn them theres hell coming if you dont get your act together, you would say fail, fail, fail, fail. He damn near pulled it off. Yeah, he sure did. I think the threats about the spending, the warnings about the spending threat have really proved prescient. Its interesting, even hearing his son talk, i think that interview i did was 13 or 14, he said 16 trillion of debt. Neil yeah. Now were at 21 and we are going to be sitting here, it will be 24, 25 trillion in just a few more years. That rate of growth of the debt, i think people would have laughed off and yet here we sit. I think that the legacy on those warnings was very very positive. I do believe that the net effect to the American Economy was very positive around nafta. I think that a lot of the global neil that was one thing he didnt appreciate. He looked at that deal and trashed it, famously debated al gore on the subject. On that, maybe trump would agree with him. He would, and a lot of others would as well. Yeah. But the irony is now that texas is the largest exporting state in the nation and that the growth of the state of texas is attributable to the fact we have this massive corridor along the southern border, some of the busiest rail lines in the world as a result of nafta. So there is irony there. But no, going back to the point of debt, you have to wonder how he viewed the last president ial election and the subject of debt wasnt even brought up by either party. Its as if its disappeared from the discourse. Neil you know, people forget that, if memory serves me right, he was leading in all the polls before he dropped out and returned and still got didnt get a single electoral vote. I always wonder in retrospect, would have, should have, could have, had he not quit the race, he was leading bill clinton and george bush senior at the time, whether he could have pulled it off. We know that a billionaire who never Held Elected Office [ laughter ] neil very good. I mean this respectfully, he was sort of donald trump before donald trump. Who knows what he could have accomplished if he had his own Reality Tv Show to introduce himself to the american public. Neil youre right. He did grease the skids. He talked about the problems, the giant sucking sound from the south. Much of it proved prescient. His conversation about spending and taxes. From an economic standpoint, he did almost run to the right of george h. W. Bush up until he dropped out and he did kind of alter some of his positions. But yeah, look at a debt of 12 million seems quaint now. 12 trillion, sorry, is quaint now, in retrospect. It is, i think, in a different era and with a different background, he could have, who knows what would have happened if he had run under a party label. Neil the things, the doubts he had about the original nafta deal are the same doubts that the president had and has with the revised deal. I think that youre right, theres a certain sense where he kind of foreshadowed a lot of donald trump. I think pat buchanan did that in some other ways. Neil youre right, yeah. I think there was just not the media savvy that President Trump ended up having. He became the persona. Neil its really social media. More than 24 hour cable cycle. He wouldnt have been able to hear his accent on twitter anyway. Neil the debt issue, i think even he would be surprised, Interest Rates are staying this low with all that debt. Imagine where we would be had he been elected president and we would have tackled our debt. Would we be talking about china being this preeminent competitor to the United States right now . Would china be the same threat that it is now if our Financial Vulnerability wasnt where it is and growing . The rate of growth i actually think its even more than that. We need china to fund the deficits. We need their dollars coming back in. We dont talk about it. I think its somewhat a complicated subject for the American People to understand, but really, the subjects are much more intertwined. Around that same time, Warren Buffett reached out to me and said we are mortgaging the farm. Good way of putting it. Neil i remember one conversation i had with him which we will explore in a lot more detail at 4 00 p. M. On your world on fox news. He famously looked and said you got to remember when a country like china invests in you its just a matter of time before they own you. Part of his legacy was worrying about debt. Back then it seemed paltry compared to now. More after this. [ sigh ] not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. Its soft. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, and the door ensures a watertight seal, so you never have to worry about leaks. Kohlers walkin bath was designed with convenient handrails for added stability and safety. The wide, ergonomic seat is tilted back for comfort and stability. It has a channel so water wont pool on it. And it positions you perfectly by the controls. While the heated seat soothes your back, neck and shoulders, warming up your body before, during and after the bath. Kohler is an expert in bathing, so you can count on a deep soaking experience. Honey, are you seeing this . The kohler walkin bath comes with powerful, fully adjustable hydrotherapy jets and our exclusive bubblemassage. Oh yeah, thats the stuff. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of min. Would you mind passing my book there. Once again, thats. And financing is available for qualified purchasers. Neil federal Appeals Court is ruling today that the president cannot block twitter users. The president has been very concerned about those particularly critical of him, whether they are really hurting rather than helping the cause of social media, at least what he considers to be fair and balanced news on social media. The rest of course thats negative he deems to be fake. Regardless, a court saying no, no, mr. President , you cannot do that. Meanwhile, the womens world cup champs are set for a victory lap with democratic lawmakers but not the president ahead of their ticker tape parade planned tomorrow in lower manhattan. Fox businesss Hillary Vaughn on capitol hill with more on that. Reporter well, it looks like the u. S. Womens soccer team at least has a standing invitation to come to capitol hill by minority leader Chuck Schumer saying last night he wants to see all the u. S. Women soccer stars here on capitol hill and is using that as a push to pressure majority leader Mitch Mcconnell to bring equal pay legislation to the senate floor that the house passed. How about the equal pay amendment that the house has passed . Why dont we put it on the floor of the senate in honor of the women who won the world cup . Why dont we do that, leader mcconnell . Reporter Megan Rapinoe has been pretty adamant about her choice not to visit the white house following their world cup victory. Shes said she is open to coming to capitol hill to talk to law makers. She would come with us. Thank you, Chuck Schumer, for inviting us out. We are very happy to accept your invitation to come. Reporter we talked the a few lawmakers here today but it doesnt seem like republicans and democrats are divided on this equal pay issue. Some senators we talked to today say they are for equal pay for equal work and even the president himself when asked when the women soccer players should receive equal pay says its a difficult issue, youve got to look at all the numbers, but he isnt necessarily against trying to make things more equal. I think everybody should be treated equally in terms of pay. You do the same work, you ought to get the same pay. But soccer is a business and i just dont know the arguments pro and con. Reporter right now, the white house has not officially extended the invitation to the soccer team but it seems like at least some of the team members are not planning to head to pennsylvania avenue. Neil . Neil all right. The other end of pennsylvania avenue. Thank you, Hillary Vaughn. By the way, we are getting some more details on what the president has cooked up with the premier of qatar. They plan to buy a number of boeing aircraft, we dont know how many or whether these are the 737 max, or the 777, the general boeing 777. Regardless, an order for boeing planes but we dont know much more than that. Meantime, Major League Baseball seeing a home run surge, maybe because its fixing baseballs . The allstar with the accusation, after this. Limu emu doug what do all these people have in common, limu . [ paper rustling ] exactly, nothing. Theyre completely different people, thats why they need customized Car Insurance from liberty mutual. Theyll only pay for what they need [ gargling ] [ coins hitting the desk ] yes, and they could save a ton. Youve done it again, limu. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Neil all right. China talks are back on. We dont know exactly when but theyre back on. The fears are still on, too. Jeff flock at a Model Railroad company in wisconsin on how tariffs are impacting that business. Jeff . Reporter i come to you from middle america, usa. Literally and figuratively. By the way, perhaps you see this is the walters company. If you know Model Railroads, you know these folks. They are perhaps americas foremost maker of model trains. Some of that stuff comes from china and ive got the president of the company here. Its a big deal, these tariffs, this first round of tariffs, one thing. This round of tariffs hits everything from shoes to your business . Yes, it will impact our business negatively and disproportionately negatively if these tariffs go into effect. Reporter you have to raise prices. Theres no way to do anything else . Our margin structure doesnt allow for us to ignore the additional 25 thats imposed. Reporter but you know, the president would say why cant you make this stuff in america, cant you switch to another maker other than china . You know what, we have a very unique product, as you can see, and it has a really unique supply chain and it requires very experienced, highly detailed work that we have actually worked for many years with our contract manufacturers to perfect and also, we have very small quantities that we have, minimum order quantities. Its very difficult to make what we do anywhere in the world and china has kind of helped us figure it out over many years. Reporter its amazing, i dont know if you are into model trains, i have some, but this is h. O. Scale. Look at this downtown. By the way, wisconsin, the model train capital of america, and the walthers Company Makes all this stuff and some of it is sourced from china. 25 tariff, i know the president talks a lot about china paying the tariff. No, u. S. Companies if this next one goes into effect, will be paying the freight as well as perhaps you see a Freight Train crossing in our way. I should have a sweater on for this. Fascinating. Its a way to relax and get away from the big world that can be kind of hard to navigate. These worlds that people are creating get them away from the real world and all of its craziness and allows you to control what you can control which is your little world thaw want to be it. Reporter this is america as we would love it. Moving slow and trains. Neil that is amazing. Not a Beautiful Day in the neighborhood. You actually kind of look like mr. Rogers. Thank you, my friend. Reporter thats my next gig if this one goes poorly. Neil get the sweater and away you go. I appreciate it, my friend. All right. I dont know if Mitch Mcconnell will appreciate this next guest, but she has captured the Democratic Partys imagination because she came oh, so close last goround to taking down the republicans for a crucial Kentucky House seat. Now they are betting on her to topple Mitch Mcconnell and become the first democratic senator in the state of kentucky dating back i think to 1992. Shes a former fighter pilot, amy mcgrath joining us right now. We did reach out to senator Mitch Mcconnell and no one available today. His office is telling me they hope to talk to us soon. Very good to have you. Thank you. Good to be here. Neil you are up against a giant. How do you plan to take him on . Well, as a marine, im no stranger to challenges and this is going to be one of them. You know, i look if you look at kentucky, its a very red state, its a very protrump state, but one of the reasons why kentucky voted for donald trump is to drain the swamp, and do things like bring back jobs, to bring down Prescription Drug prices, to do big things like infrastructure and all along the way, if you look at why he hasnt been able to get those things done, you got to look at senator mcconnell. He stopped them along the way. I think thats my message, you know. If you want to get these things done that kentucky really needs, we have to elect people who care and want to get these things done. Neil others have had the same goal youve had for better than, what, three decades now and failed. Where do you think you will succeed . Well, you know, i never set out to be a career politician. I served my country, all i wanted to do when i was a kid was fly fighter jets and be a marine, and serve. Along the way, i met my husband and we had three kids and my husband, who is a registered republican, we looked at each other in the last few years and have said hey, our country is not in a great place. We need better leaders. I think a lot of kentuckyians field the same way. They are tired of the same leadership, they are tired of the dysfunction in washington. We have a state where, you know, our Signature Industries of tobacco and coal have been in decline for decades, and Mitch Mcconnell hasnt really done anything about that. We have a state with the lowest wages, some of the lowest wages in the country, an Opioid Crisis which is two times the National Rate in terms of overdose deaths. We have had the highest cancer rates and all along, we have had a senator who really cares more about special interests and corporations and doesnt really care about these issues, and i think thats the big thing that people are seeing. Thats whats going to be different this time. Neil you know, you have no problem raising money. In your last goround, more than 8 million. Thats unprecedented, especially in a state dominated by republicans. They are very hopeful that you can do that again. But it is an uphill battle. I wonder if it comes at a time when the Democratic Party itself, all these candidates running for president , doesnt know what it wants to be. Where are you in this debate between i guess the far left and nancy pelosi fighting with some of these congressmen like alexandria ocasiocortez and others who she says, you know, dont represent the party . Where do you stand on that . Well, you know, the internal debates of the national Democratic Party have never been something i really cared about, frankly. You know, im somebody that again, just wanted to serve my country and frankly, i have never been a very partisan person. I was an independent for 12 years. As a military officer, that was very important to me. I think the focus needs to be on kentucky. So for me, im not very concerned about the internal battles within the Democratic Party. Neil yeah, but if youre elected senator, youre going to have to be, right . For example, on the tax cuts that Mitch Mcconnell championed, would you work to remove them . Well, you know, i think its important to note that the only major piece of legislation that senator mcconnell was able to do when he had all the power was this tax windfall for corporations and the wealthiest 1 . The problem that i had with the tax cuts was not that i am for tax cuts or against tax cuts for middle class. Im not. You know, i didnt marry a millionaire. I married a navy man. Everybody wants low taxes. The problem that i had was his priority was always corporations. Your priority should have been the people of kentucky. He should have made the middle class tax cuts permanent and he didnt do that. Neil but again, to be fair, you can argue the size and scope of the tax cuts but about 80 of americans did get them. I dont know how that percentage breaks down in kentucky but would you tell residents in kentucky im going to scrap all of those and start fresh . No, i wouldnt tell them i would scrap them all. I would fix it. Neil how so . I would give tax cuts to the middle class. I would give tax cuts to the middle class and working class in particular. I think thats really important. Neil take away the ones for the rich and Corporate Tax cut that was cut to 21 , you would shelve that . Thats something we should look at. Look, those tax cuts that Mitch Mcconnell championed, you have to remember, they almost doubled our deficit. They increased our debt by 2 trillion. I dont think thats neil you are new to this. You are new to politics. I commend you for saying that. But democrats had a hand in increasing the debt before this president and the republican president before that president and the democratic president before that president. Debt has exponentially grown way out of control. Would you make it a central part of your duty if you become a United States senator to address the debt . I think we absolutely have to address the debt. Its something thats very important to me. Im also very concerned about it. You know, guys like Mitch Mcconnell and senator mcconnell have said that they are concerned about the debt and then when they get in power, what do they do, they increase it. I think its neil they all do that, right . Democrats, republicans alike, they all do that. How would you stop it . I think you stop it by getting people elected who are honest with the American People about our debt. We have to pay for the goods and services we want government to provide. I think thats very important. Neil all right. But barack obama was sincere, i take it, in trying to deal with the debt. He couldnt deal with it. George bush before him, equally sincere and no one seems to get a handle on it. Is it so important to you that you might scale back some spending to deal with it . Well, i would tell you this. You know, we were on a path to decrease our deficit in the last few years of the last administration and we were on that path. Then senator Mitch Mcconnell came in with this tax windfall and we now almost doubled it. So thats not neil i dont know if we were on a path. Certainly in the years of bill clinton, you are quite right about that. I dont know if we were on a path there. But you would go ahead and address entitlements as well to deal with that as you are cutting tax cuts . I think what we need to do is get people in office who want to look at a range of things and come together as republicans and democrats and look at our debt and how we address it. I think that we started to try to do that with things like the bowlessimpson plan and you know, that was thrown away. Why was it thrown away . Because we had people that just didnt want to go there. We had the tea party, for example, that held up our National Debt and said that, you know, they were going to basically hold it hostage. Neil it wasnt just the tea party. Everyone had a hand in this. I guess what im asking you, also as someone who served in the military in this country very honorably, would you be open to paring defense spending . You know, heres what i would say about defense. As somebody who has served in three combat tours as a marine, i dont think we can pare defense spending until we stop the wars that were in. Its very important to me to make sure that we have body armor for our marines going forward, so i dont think we can think about that right now until, you know, we scale back. Thats why on things like an authorization to use military force, thats why thats such a big important thing for me. Neil inside. A understood. Amy mcgrath, thank you for taking the time. Shes taking on Mitch Mcconnell. We have reached out to Mitch Mcconnell, hope to hear from him soon. In the meantime, renting is on the rise across the entire country. In other words, renting rather than owning because its cheaper and for millenials its the only option. After this. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. I comparison shop for everything to get the best deal. Gas is 6 cents cheaper here. Sale rack no and, for loans, i go to lendingtree. Com. I wanted to consolidate my credit cards in to a personal loan to pay them off faster. Lending tree made lenders compete for my business and i ended up with a loan that saved me over 9000 and no more credit card debt. I mean 9000 its a lot of money. Lending tree, may the best loan win. Neil Houston Astros allstar pitcher Justin Verlander says the mlb is juicing baseballs for more offense. What is he saying here, that this is all just to draw in eyeballs and attention . Well, thanks for having me. We miss you in cleveland at the mlb allstar game. I guess thats his point, but i dont think theres anything different with the baseballs this year than in previous years. I mean, they go in the same facility, theyre produced out of the same facility and you know, sometimes theres an ebb and flow where the hitters have an advantage. I think you saw that in london where the mound was a little bit lower during the yankees red sox game, so thats why there were so many runs in london. You know, justin is having a good season, hes 104. I saw his wife kate upton last night at Shaquille Oneals tmobile party after the tmobile home run derby. I think justins got everything in the world going for him. Maybe he needs to put the ball into a different place and not complain about the ball. Neil any time, i know you are at a party and kate uptons there, thats party and influence just for yourself, young man. Touche to you. Im wondering about this whole we miss you. Neil i bet you do. Im wondering about this, i have heard others express it, they seem to be knocking it out of the park these days and a lot more of this happening this year than other years. Last year was a record from the year prior. What is going on with that . Well, i think, you know, hitters, batters, they study pitchers a lot more. They have their, you know, iphones or pads that, you know, they watch pitchers, theyre stronger. A few years ago, you know, we were talking about maguire and sosa and maybe there was an issue with sammys bat, but i just think that you know, the batters are starting to, you know, pick up particular tips off pitchers and, you know, it goes back and forth. I mean, theres times that the pitchers have a distinct advantage. But i dont think theres anything nefarious about the baseballs and rawlings is not doing anything. Obviously offense is good for all sports. Baseball included. But i think you know, we just need to celebrate the greatness of the game and not worry about any conspiracies about the baseball. I think you know, like i said, everybody, it goes in ebb and flow, where the pitchers have an advantage, batters have an advantage. You know, well see how it pans out over the remainder of the season, the second half of the season. Neil all right. We will watch closely the big game tonight. Thank you as always, my friend. Cleveland, the site of the big allstar game. Meantime, Richard Bransons space unit wants to go public and is apparently looking for volunteers to go into space. We volunteered gasparino. No word back. Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. Patients that i see about dry mouth. They feel that they have to drink a lot of water. Medications seem to be the number one cause for dry mouth. I like to recommend biotene. It replenishes the moisture in your mouth. Biotene definitely works. [heartbeat] hes got common sense that tells him this is right and this is wrong and he acts on it. By the way, thats why the American People voted for him. Neil why isnt he up more in the polls . Ill tell you why. Neil im just asking. Ill tell you why. People dont want to say stloth voted for him. They just dont. They dont volunteer it. Neil bernie marcus, the original founder of home depot. Maybe a lot of folks saw that interview or didnt know and he pointed out in many many interviews over the years that hes a big supporter of donald trump, raised money for him, will continue to raise money for him but a lot of them want to boycott. Look, if one of your founders is pouring all this money into the campaign we dont want to associate with home depot. Back with me, chris wilson, Danielle Dimartino booth, david munson. What do you think of this . I used this expression on your show before and i really mean it. I think its a form of cultural marxism. This form of intimidation of people in the private sector that are told they are not allowed to have political opinions that are not just in the mainstream. He was elected so its at least something nearing half of the country in that range that happens to agree. Neil think it would be a different reaction if he was supporting one of the Democratic Candidates . Of course. It would be a very positive thing. But there was a corporate figure that was giving a lot of money to Elizabeth Warren who i happen to vehemently disagree with her politics, last thing i would do would advocate boycotting that company. People in america have a right to exercise free speech to supporting the candidates they neil you are both nodding. Amen to that. Come on. Free speech is one of our basic liberties. We lean on it and neil maybe this is something protesters think hes taking money out of the home depot till to do this. He hasnt been with the Company Since 2002. Give me a break. This whole we are going to boycott someone is just the latest on when someone needs a light bulb or set of nails neil democrat or republican. They are going to home depot. Go to home depot, honey. Yes. Neil all right. Meantime, i dont know whether there are any volunteers here but Richard Bransons Virgin Galactic is going public. Investors are ready, he thinks he could easily raise a ton of money and that could pay for volunteers hes looking for to go into space. David already volunteered for that. What do you make of this . And the marketing of all of this . I wrote in the show notes, are investors ready to bet going to space. I said all i can tell you is the chief Investment Officer is not ready to invest in it. Look, if i want to invest in something that loses a ton of money and is this big aspirational tech play, i already have Ride Share Companies that have gone public here in america. I can lose money on them. So no, this is a great way to shift Capital Allocation to somebody else who will be holding the bag they will wish they werent holding. Neil but thats the future, isnt it . Or no . Its not my future. Neil okay. Sorry. Neil talking about private enterprise going to take over for what the government used to do. This is how its going to be. That may be true but everything Richard Branson does is kind of at the intersection between business decision and publicity stunt. This feels a lot closer to publicity stunt. Neil one of the producers proposed this and we are just caving into this guy. Another item i want to get these guys thoughts. Apartment rentals at their highest demand in the latest period. Millenials apparently not buying. You could Say Something about the Real Estate Market or they were exposed to what their parents went through with the meltdown. What do you think . Gosh, do i have a lot to say on this one. Look, i know this is a family show but millenials need to procreate. They need to set up house and home. Boomers need to start selling their homes and downsizing and they are competing with millenials for the same exact units. This does not work. Our economy revolves around consumption. Part of that consumption is at some point, getting married, having children and filling up a home with the things you fill up a home and buying diapers and all of these things that wont happen and millenials have already put off settling down for a decade. Neil not adult diapers. Not adult diapers. Neil maybe its a sign of our times. Look at our falling birthrate. Its just another way in which millenials are not following the path of typical generations. They are saving less, investing less, doing everything less, getting out of bed less when it gets down to it in some ways. Neil i have issues with this generation. We might find when we look at the generation thats following millenials they are returning back to the norm, they are more conservative and millenials will just be an outlier. Neil i dont know. I actually disagree. I dont believe this is about first of all, you have to have household formation, i agree. In this case, this is an affordability issue. There has been a bipartisan desire to see permanently escalating housing prices, it is foolhardy and it is hurting millenials. Those who are ablebodied and gainfully employed cannot afford to buy a home. The reason is neil the 10,000 cap on mortgage interest and mortgage interest wasnt attracted at all by that. Not entry level homes. Property taxes could potentially be if the home goes over a Million Dollar price. Neil my point is theres another reason for them not to, right . But the major issue, the problem to me is that we have facilitated Home Ownership by coddling it with tax breaks and other things like that that have put affordability out of range. The zoning laws, the supply factors, environmental regulatory, the homes are neil i think they crunched the numbers and said its not worth it. Regardless of what you tell them about procreating. They need to procreate but if they keep renting at record high, to your point, rentals, the rental rates are through the roof. No matter where you are in america. They will never have the ability to save for retirement, much less save for a down payment on a house or even ever pay off their student loan. There is also huge incentive against procreating, by the way, against marriage, then procreating. Neil sure. They should join Richard Branson in space. We have to see what the salt deduction looks like. Neil look out the window. Babies in space. Guys, thank you very, very much. Remembering ross perot after this. Im really into this car, but how do i know if im getting a good deal . I tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if im getting a great price. This is how car buying was always meant to be. This is truecar. Building a copy is lot more fun than politics. Based on performance. Politics is magic acts illusions, manipulation. So its a lot more fun to do this all day every day. I will tell you that. Neil that way saying youre not entertaining im making sure i live up to all of our commitments to the our customers, the people in the company and the stockholders. Neil what was i wearing for this . Anyway, it is a sad passing. Ross perot gone the 89. A week after losing lee iacocca. These giants who defined markets, times our politics, perot, big impact, 30 part candidate, got close to one out of five votes. That was then. Remembering him later on. Charles one of those vote was mine . Neil is that right . Charles yeah. I loved ross perot and lee iacocca. You can feel their presence in todays economic and political atmosphere. Neil absolutely. Thank you, neil. Im charles payne. This is making money. The dow is having a lackluster session. The dow edging lower for the Third Session but investors are piling back into the comfort of big momentum names like facebooks of the world and amazon doing pretty well. This as investors, all of us are waiting to hear from fed chair jay powell tomorrow. Well have a preview, a possible outcome. After