Transcripts For FBC Cavuto Coast To Coast 20240712

Months here but nevertheless that news was a good excuse to start unloading tesla shares. Do not, do not feel bad for elon musk though. He is still comfortably worth in excess of 103 billion even with the falloff today. We are following a tale of two president ial candidates in wilmington. Not the same wilmington. President is heading to wilmington, North Carolina. The former Vice President , wilmington, delaware. Both expected to continue concentration in battleground states. At the same time reminding americans that each has the secret to make them feel better there is sentiment surveys out today that really confirm were bummed out as a country. Were getting to the bottom of that. Why are we bummed. Why are we dim on our own prospects here . Cuts across republicans, democrats, im buying this in pockets, even guys like new age are really morose. Im not morose. Depending if lunch is served. Go to Jackie Deangelis what she is following with the dow up 219 points. Where are we with all of that, jackie . Reporter good afternoon, neal h neil. I cant tell you why some people are morose. There is optimism in the marketplace. You can see the dow is trading higher by 200 points today. A very, very strong august performance. The dow is now positive for 2020. We have the s p 500 notching a new intraday record today as well. So that is something to watch. The nasdaq seems like taking a little bit of a breather. What investors are doing, they are rotating back into equities. They are coming out of safer plays weve been seeing them hoard during the coronavirus pandemic, including bonds, including gold. That is giving you a sense sentiment in the marketplace is on the rise. Having said that the markets are watching very close vaccine developments. Several different vaccines and treatments in the works weve been talking about but it is abbott labs were watching very closely today because it is getting another huge boost from the u. S. Government for its 5dollar rapid covid test. It is ready to ship them to states to start distributing. The rapid tests makes a huge difference there is no lag with the patient. I got tested yesterday. I get the virus in five days. By the time i got the results back does it matter anymore . This is almost instantaneous. Having said that, the adp number was out this morning t was a miss. 420,000 jobs were added. Expectation for a boost was 950,000. The number was still better than in july, 167,000. That is setting up tension as we head into friday, we have the big august unemployment report. All eyes will be on that to get a sense how the recovery is going, neil. Neil all right. Jackie, thank you very, very much. Expectations as jackie said for that employment report all over the map. More of a seminal developments here, if we get the Unemployment Rate under double digits, 10. 2 , jackie hinted at, could be under 9. 8 . The consensus is always wrong. These consensus numbers have been wrong far more often than not. Well be monitoring all those developments. We thought we would check in with a bull and a bear where we stand right now. On the bull side, scott martin, kingsview asset management. We have gary b. Smith. Slightly more bearish, kadena Group President , much, much more. Gary end with you, beginning with you. Youre cautious, right with concern . Neil, im always the villain in these. I want to know why how that is. Neil youre a i, im an evil villain. I suppose. Look, you just look at some of these nut at this valuations. Whats the pe on tesla . It is 1100 . Apple, my gosh, you have to talk about it every day i suppose, more than doubled since the march lows. I mean these kind of gains neil, are just unsustainable. The rhetoric im hearing it sounds like 2000 all over again people saying yeah, i understand the market is up, i understand the valuations are crazy but its different this time. Just, neil, yeah, i mean, at best i am cautious right now. Neil scott, look at tesla, amazon, theyre making money but back in 2000 when we had the sort of implosion going on before everything just hit the fan there were a lot of companies that were riding forward with no earnings, no prospect of ever making money. So they got punished. So you could look at this as a different market in that sense but what do you think . Yeah. I mean, neil, some of those companies, old favorites of mine, pets. Com to bring up bad memories webvan, they didnt have a real business. These are companies, gary points out are expensive but they do have a real business, they do have real sales. The funny part of todays market, neil, yes, there are areas that are very expensive, there are areas to us at kingsview that are very cheap. Things in the energy space for example. Things in financials that have been talking a lot about on fox business in the summer. Look at jpmorgan, citigroup, two names we own. These are Companies Trading in the midteens to use a term that gary used as far as pe ratios, price to earnings. So this market is expensive in areas. It can tell a tale however it wants to be told with respect, yes, there is stuff way overvalued, but in my opinion, energy, financials, especially maybe industrials too, as the Global Economy refires, those are companies were starting to look at picking up here at cheap valuations relatively. Neil you know, gary b. , the other concern that might sort of dissuade the bearish argument is that so many remain bearish or at least concerned. That youre not alone in these concerns. And that is very different than the late 1990s bull market, going into 2000. Does that give you any comfort . Absolutely. The whole kind of wall of worry i suppose, when you know, when no ones concerned everyone is in the market and it can only go down but, yeah, listen, i think that is what is propping up the market right now. Why youre having these day after day of gains but on the flipside of scotts argument he points out value low, i guess maybe cheap companies or cheap industries but there is a reason theyre cheap. Banks ride on top of the economy if you will and there is not an economy in the world right now thats growing. Energy is cheap because for the same reason. Economies are not growing. They dont need energy. Besides, we have a glut of oil and natural gas and stuff like that. So i would tend to avoid the areas that scotts looking at and you know, i think the other areas that are going gangbusters are too expensive. Neil you know, it got no real notice, scott, but australia, decades into avoiding a recession, generations came and went without seeing one. Now it is in one. Does that worry you . Well, it is one of those canaries in the coal mine that tells you to go back to something gary side, this time it may be different because youre right, this is something that different happen to australia for decades. Yes that was covid related. Tell you garys Counter Point to my point i guess you know, those are times you need to buy companies in those industries when things like terrible. It is always darkest before dawn, neil. As you talk about very astutely, the market updated for 2020 has so many haters on it, that is why it will probably keep going up into the election as it becomes more likely trump pulse this thing out, the market gets more excited, goes to higher prices and higher levels. Neil or the light at the end of the tunnel could easily be approaching train. You have no way of knowing, right . Guys, thank both very much. Very reasoned, reasoned discussion on all of this. A couple of developments that could move the markets, a political one in massachusetts no less, but a kennedy lost a massachusetts race, the first time weve seen that in 26 attempts that began congressman joe kennedy iii, failing to do what his, well grandfather had done back in the 1950s, start a kennedy juggernaut that never lost a massachusetts race. That continued not only through joe and Robert Kennedy but later on, their family members, extended nieces and nephews, congressmans father himself but he lost in a primary battle to senator ed markky. What is interesting about the kennedy defeat, he was supported by nancy pelosi, steny hoyer, closest thing you might call to the Democratic Party establishment. Neil while markey was supported by alexandria ocasiocortez, Elizabeth Warren. So was this a sign that the progressives or extremists of the party have taken over the party . I want to raise that right now with douglas holes he holtzeak, former Congressional Budget Office director. It was an interesting footnote a capper on the day that had establishment figures sort of playing to the progressives tune. What do you make of all that . Well, we have certainly seen the progressives push the Democratic Party left. The entire policy of portfolio is well to left where it has been in the past several years. He had markey has been to the left of reality for his entire career. It finally caught up with him. He is quite comfortable with where the progressives are. The only person i can see in all of this who managed to swim against the tide was ways and means chairman rich neil, held off alex morse, a progressive contender. Outside this pressure is real. Its a different Democratic Party right now. Neil you know i was thinking of joe kennedy and i was thinking more about you know, his grandfather and remembering or, more to the point, his greatuncle, what he espoused and in cutting taxes versus some of the language were hearing out of prominent democrats right now. Give this a quick listen t really echoes home the point im talking about. Such a bill will be presented to congress for action next year. It will include an across the board, top to bottom cut in both corporate and personal income taxes. Guess what, if you elect me, your taxes will be raised, not cut. Corporate tax rate must also be cut to increase incentives and availability of investment capital. I would raise the Corporate Tax. I would raise, and raise billions of dollars, raise the Corporate Tax rates from 20 to 28 . For all these reasons, next years tax bill should reduce personal as well as Corporate Income taxes for those in the lower brackets, who are certain to spend their additional takehome pay and for those in the middle, upper brackets, can be encouraged to undertake additional efforts, to be able to invest more capital. That is where i double the Capital Gains rate to 40 . So every single solitary person, Capital Gains will be treated like real income, will pay 40 on capitalgains tax. To achieve these rate of gains, one step above all is essential, the enactment this year after substantial reduction and revision in federal income taxes. Guess what . First thing i do repeal this trump tax cut. [cheering] not a joke. Neil all right. Now i know two different time periods. I know the rates during jfks time were a lot higher than they are now. That the corporate rate that another of 50 , you have someone else looking at changing that to, you know, 289 . Jfk proposal, 40 . Slowly slide through Republican Democratic administrations from there. But the lower levels or not, it is a Different Party espousing a whole different set of vibes here. What do you think . Really is just remarkable demonstration of the shift, neil. You can hear in the 60s rhetoric, most liberal thing you could do, do fiscal finetuning of private sector to peoples routes of prosperity. You hear now all prosperity runs through the government. The idea its a good idea to raise taxes when were in the middle of the biggestdown draft we had since the Great Depression is just mindboggling. It represents the departure of the Democratic Party from any interest or reliance on the private sector, any belief in the power of private markets. Certainly one much the most troubling developments that i see on the landscape. Neil you know, when you talk to the biden folks, even prominent democrats elsewhere today, were nowhere near the levels that even jfk was able to achieve sadly after his death with those lower rates. So these levels are even, with the increases that biden plans much, much lower than back then. So do not say that jfk moderating approach on taxes is dead. What do you say . I say that his approach is dead. What you saw was in that clip was a belief that the quality of tax policy mattered as much as the level of taxes. There were going to be across the board cuts, evenhanded cuts that treated things neutrally. You dont hear anything like that in the discussion among tax policy among democrats now. It is who can we tax, who can we use the tax system to discriminate and punish . No respect for the economic incentives that produces. So theres not going to be a reliance on capital accumulation, productivity growth to get higher wealth, flatout redistribution. That is the agenda at the moment. Neil all right. Thank you very, very much, my friend. So much we look at in perspective when we look at the tax rates but as douglas holtzeakin pointing out, you think you are losing revenue in wash tone, cutting taxes of the richest americans, a reminder, recently as 1980 when Ronald Reagan was about to come into office, and which had a top rate at the time of 70 , the richest in the country were paying about 20 of the taxes. He eventually cut it down to 28 . It now hovers at 37, 38 . Now the rich pay half the taxes in this country. So a cut does not mean for uncle sam. A cut. Stay with us limu emu doug you know limu, after all these years its the ones that got away that haunt me the most. [ squawks ] cause youre not like everybody else. Thats why Liberty Mutual customizes your car insurance, so you only pay for what you need. What . Oh, i said. Uh, this is my floor. Nooo only pay for what you need. Liberty. Liberty. Liberty. Liberty. Lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Neil you know were not only voting for president obviously in november. You know the entire house, a third of the u. S. Senate, a number of governorships are up for grabs, what really intrigues me, number of state bond proposals, another initiatives are capturing peoples attention. In the case of california, it is not only california, by the way. There are measures right now to raise various taxes through a variety of means including property taxes. The proposition 15, the proposal to hike property taxes would be reverse what was set in stone back in 1978. That was supposed to limit such hikes that was then. Could be a very, very different california now, depending how things go in november. With us right now is kevin falconer, the mayor of san diego. What he makes of this and other initiatives that are out there. Mayor, good to have you back. How would this measure affect san diego . Well it would affect san diego unfortunately very negatively but every other city across the state of california. Think about this, neil. In the midst of one of the worst recessions this is a slowdown, somebody thinks it is good idea to raise taxing on Small Business owners across the state, struggling to stay open to get by, what this will do, it will raise prices, have a negative effect on the economy. This is the worst idea at the worst possible time. Neil how do you raise the money . Now it is different in your case a city, kind of a republican mayor, different priorities, lets say than democrats but its an environment where Everyone Needs money and im wondering how they are going to get it . Well it does, i view this, neil, this was not a partisan issue. This is a common sense issue. This is how do we support struggling businesses, so that we keep the infrastructure going for these businesses that once we get on the other side of the pandemic, employees have jobs to go back to. If were going to say as a state in this, as i said this is the worst possible time, that were going to raise taxes on all of these Small Businesses and Properties Across the state, thats, that is going to affect everyone. That is going to raise prices, again to send money to the black hole of sacramento is the wrong thing to do. Im being very vocal about it. This is not, this will impact us very negatively in san diego, but every city across california who suffered the consequences at a time we should, neil, be doing everything that we can to help Small Businesses that has been really my focus here on Small Business relief, all of the executive orders ive been able to do to help businesses stay open outdoors, et cetera, to come right over the top, to say were going to raise your taxes on all of these Small Businesses that can at least afford it, it is the absolute wrong thing to do. Neil where does school stand in san diego right now, mayor as far as inperson, how many are inperson when they open up versus virtual . Starting this week, neil, we have the ability, School District in san diego, to do inperson learning. Every district in the county will do it a little bit differently. That is a reflection how we have seen numbers reflect the right way in san diego county. Were not out of the woods in any sense. We spent a lot of time, effort to work with everybody to have those numbers trend in the right direction. So to see the ability of some of the schools to start to reopen in person, i think it is incredibly positive. Getting our kids back to inperson learning environment. I think there is no substitute for that. Neil the economic environment right now, there are a number of surveys that people are less optimistic about the future than they were. You know, i can get into the weeds of, you know, talk about how they feel depending on income groups, whether your fine state or others but the mood of the electorate is generally down. Are you worried for the president . Are you worried for republicans, that voters take it out on them . Look, im concerned as i think everybody is and one of the things that im really been advocating for here in california is clear and consistent guidelines. I think one of the things that has really affected us the most, this youre open, youre closed, youre open, youre closed. That is one of the most frustrating things not only as a mayor on the local level. I know all of my colleagues up and down the state. So that is why ive been so active, neil, and vocal for allowing to us give us the flexibility to have local control. Allow us to work. Our economy really cant be open unless our schools are open. All of these, as you talked about, they go hand in hand. That is why it is important, were not talking about going back to normal. It is the new normal. Lets do it with safety, do it with precautions. Lets get this economy going. Give people clear rules of the road. When we do that, we see it in san diego county, people want to do the right thing. Our numbers are going in the right direction but we need a clear, consistent message. Unfortunately what we havent been getting out of sacramento. Neil all right. Well watch what happens. Mayor, thank you very, very much. Good luck this school week, next school week, getting kids back. It is a herculean process. Dont they know that in the new york metropolitan area. You might have heard already, new york city did push back getting into school the 21st. That is not guaranteed, all of this at a time when the governor and the mayor are proving increasingly ad at odds, when it comes to Indoor Dining. By and large it is open in new york state but not in new york city. Signals the governor, especially when he hears the mayor keeping them closed rest of the year, that he has had enoughthe food fight youre not hearing about but you will after this. The volatility. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. They will, but with accident forgiveness allstate wont raise your rates just because of an accident. Cut is that good . No you were talking about allstate and. I just. When i. Accident forgiveness from allstate. Click or call for a quote today. Find a stock basedtech. On your interests accident forgiveness from allstate. Or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Neil all right. New york city area, new york city schools, classes will be resuming on september 21st but a lot of teachers wont be there to ring the opening bell. Kristina partsinevelos on the sudden skyrocketing in announced teacher retirements and much more. Kristina. Reporter neil, what a rough start to the school year. Like you mentioned here in new york youre starting to see school delayed, first day delayed. Remote learning is become the norm. A new added level of stress, a shortage of teachers. States across the country are seeing influx of teachers either taking leaves of absence or retiring all together. In new york state alone we saw a 20 bump in the number of retirements from teachers just this summer. One town in freehold, specifically a new jersey town, they had to go completely remote because 250 teachers took leaves of absence. Fox business spoke to the superintendent at Freehold High School about lack of coordination between the schools in the state. A number of districts elected to go all remote. Had cascading impact on teachers in our district. We ended up with a few hundred teachers unexpectedly within the past 2 1 2 weeks at this point in time were facing severe child care issues. Reporter that may be an individual problem right there but we actually spoke to the head of the second Largest Teachers Union in the United States about the lack of teach teachers available across the country, what that means nationwide. Listen in. Always had shortages but i think were going to see it as 10, 20, 30 higher dependent how a jurisdiction has handled covid. Reporter it gets worse. Schools are bracing for a shortage of substitute teachers. Youre seeing postings across the country, including new jersey, trying to find substitute teachers. That raises a question about quality of your childrens education going forward, remote, inperson, hybrid of the both, schools, states across the country, are racing to fill open teacher positions before the First School Bell rings. Back to you. Neil good luck with that. Kristina, thank you very much. It is fascinating. Also fascinating sort of titfortat between the new york governor and new york city mayor with regards to Indoor Dining. Throughout the empire state Indoor Dining is now back in vogue. It is not happening in new york city. The mayor, bill de blasio has indicated it might not for the rest of the year. It might wait for a vaccine to come out, that could delay it well into next year. Governor cuomo was among those concerned that a lot of people are simply going to hop across the hudson river into nearby new jersey where restaurants and Indoor Dining will be back in full force come friday. He is worried about it. Whether he will overrule the mayor is anyones guess. Get to carol markowitz, New York Post columnist following this very closely. I have a feeling, carol, you follow this far more closely than i do, of the governor will put the kibosh on that. But i cant be sure who has the right to do what here . Right. You know, i think, that would be optimal if Governor Cuomo stepped in and let Indoor Dining open the fact he hasnt so far gives me pause. The rest of the state as you mentioned has been open for months. New jersey is opening Indoor Dining coming up very shortly. I dont think they can give any scientific reason at this point why Indoor Dining should stay closed that has not stopped our elected officials to keep things closed despite lack of Scientific Evidence it would be a problem. Most of new york state can point to the fact despite these restaurants being open all over the state, and being visited by people from new york city, all over the state, they havent seen any kind of spike. So, having said that, why cant they open in new york . Neil why is the mayor doing this . He must be aware of the same numbers you just used. Right. Neil there hasnt been any problem. Infection rate in new york, and new york city is the lowest it has been since the crisis. I just dont get it. He had a really shocking comment a few days ago he said going out to eat is basically a province of the rich. I think he has this continuing class warfare thing, only i dont think he is realizes he is on the wrong side of the guillotine. He loves going out to eat. I see him at park slope, having leisurely three hour lunches at his favorite restaurant of the he is part of the class he wants to go out to eat. Pizza places, mcdonalds, these are not places for the rich. He sees it something rich people do and he doesnt need to cater to it. Neil yeah, i mean there are some pizza shops and just, you know, cheap joints in manhattan, i thought that was over the top. Having said that i mean it is also going to be another excuse for people to avoid new york city, even though there are workers who the city wants to see returned to the city. The mayor has been given the brushoff to the wealthy and everyone else. Right. Neil he is alienating a lot of folks he is going to need. Absolutely. It also sends the message were not in a good place. If Indoor Dining is not open in new york, 0. 24 positive rate, according to the mayor. Some numbers had it a touch higher, then when are they going to open . When is it going to be safe . When will we get back to anything resembling a normal life . A lot of people, two weeks to stop the spread was one thing but this six months later and we still cant go book to anything resembling a normal life is a real problem. I know lots of people that wont come back. All the Jerry Seinfelds of the world writes articles how new york will never die, theyre not here. I love new york. Im a lifelong new yorker but were absolutely facing some really intense issues and we need our elected officials to realize that and do something about it. Neil yeah. Because as you said, carol, working in other locales, including rest of new york state by the way. Right. Neil hopefully just smarter heads prevail. Thank you very much. Good catching up with you. Thank you. Neil a reprieve maybe not for dinein restaurants but at least gyms, they too in new jersey can reopen and they too are excited at the prospects but not too excited. Well explain after this. I had saved up some money and then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. Neil all right. Come friday all new jersey gyms can open, albeit with restrictions. On the same day of course were hearing that Indoor Dining can resume in the garden state. For a lot of gym owners, even with the capacity restraints and the crowd measures and, you know all the equipment changes you have to make, better late than never. Better some scale back than anything at all. Retrofitness ceo joins us now. You have got to be happy about this, but, man, it took a while, didnt it . You dont want to rush anything, neil. First, thank you for having me. Today actually is day 170, if you can imagine that, finally new york city will be joining us. New york went last week and new jersey went this week. It has been a long road. Neil maybe you can update us on what will be different, when people go in and your customers go in, what is going to be different . Well i think for the Fitness Industry, not a lot has really changed. When you think about sanitation and safety practices, the health and Fitness Industry really has been practicing and maintaining many of these sanitation practices for a long time. In many instances it is the other industries, restaurants and retail that need to adopt these new sanitation practices as a new behavior but we are certainly social distancing. One of the things that we offered up very early on was Wearing Masks 100 of the time. We have touchless and Keyless Entry upon checking in. So we can maintain occupancy as you also check out at the same time. These are practices that have been longstanding. It is unfortunate that it took 170 days as many may not recall, the federal government actually put health clubs in phase one, recognizing them as essential business. So our members are very excited to be getting back to the health clubs. They are clean, they are safe, they are organized. And were ready to go. Neil you do have capacity restraints. I dont know how they are ultimately phased up, if you will, but, it sounds like your basic structure, that cant be constrained. So the money you mcis going to be constrained, right . Yeah. It is unfortunate. Right now in new jersey it is 25 occupancy. In new york state it is 33 . And, we opened earlier, many of the other states, again, 47 other states figured out a way to get health clubs open much sooner than new york and new jersey. Many are on to 50 , 75 occupancy already. At retrofitness we are 100 franchised organization. Meaning everyone of our clubs is owned and operated by a Small Business owner. So this is, this is something that really matters. Every day mattered. Every dollar mattered. As a matter of fact one of your good friends, the great joe piscopo is one much our franchisees. Were really, we worked very hard to take care of our franchisees who are Small Business owners. Truthfully the fight is not over. The fact we have gotten open, only 25 , we still really expect Financial Relief for these Small Business owners. Secondarily it is time for both state governments, new york, and new jersey, who have really gone out of their way to, i say, desecrate the industry, murphy talking about sweating, grunting, cuomo calling them highly problematic, we would like to see the states promoting, promotes exercise health and fitness. We know factually exercise is medicine and being healthy is the hands down the best vaccine. Were hoping to work in partnerships with the state and mend a relationship that was slightly tarnished. People want to get back to the health club and on their fitness journey. Neil i know he is a franchisee but i cant really joe piscopo aggressive working out. Can you confirm for me here he is indeed the fitness buff he claims . I have my doubts. We were together yesterday morning and he was in his wall street workout gear, full tie, pocket square and cufflinks. We, see we want to get you down and get a workout in together, socially distanced and masked of course. Neil fine. If you can allow me to curl cannolis im in. Best of like with it. Youve been waiting a long, long time for this. Lets hope that everything goes smoothly. Sometimes just when things get back, boom, someone comes in and clamps things down again. Well see what happens. Andrew, the retrofitness ceo. You heard it here. He can confirm that i guess piscopo does work out, albeit in a suit but he is working out which i guess is good. Well have a lot more after this all otc pain relievers including voltaren have one thing in common none are proven stronger or more effective against pain than salonpas patch large theres surprising power in this patch salonpas dependable, powerful relief. Hisamitsu. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Neil were closing in on 100 Straight Days of violent uprisings in portland, oregon. The mayor indicated again that the violence must end but it doesnt end. Some nights are worse than others but goes on and on. Matt finn is here. Reporter neil, last night was relatively calm here in portland t was the first night in at least three or four nights there was not some type of declared riot or Unlawful Assembly here in portland. As we get closer to the 100 day mark of unrest in the city. Police tell us it is working with the u. S. Attorneys office to review all of the arrests, that its own deputies made here in portland, to potentially bring federal charges against anybody who participated in any type of criminal or violent riots. Oregon state police have been assigned here, basically will continue to come here. That basically means the state police can bypass portland stated attorney mike shit, submit. Smith. Osp is not criticizing any officials, we respect the authority of the district attorney. Bringing violence to an end well use all lawful methods at our disposal. [inaudible]. Plans to move out of his own home because the protests and riots there, have brought damage and fear to his neighborhood. This comes after Police Declared a riot monday night outside of the mayors building that has 114 units. Rioters set fire outside of the mayors condominium tower around inside of an occupied apartment buildings. Demonstrators burglarized a business nearby to use it as fuel. The portland mayor said i want to express my sincere apologies to our home and fear you are experiencing because of my position. It is unfair to all of you who are not involved in politics or my position. A suspect in the death of 39yearold aaron daniel son who was shot in the chest and killed. Local reports identified a shooting suspect. The police will not confirm that the shooting victim is part of the conservative group, patriot prayer, which participated in a proPresident Trump caravan here in the city and ultimately that 39yearold man was shot dead after that caravan, neil. Neil you know, matt, looking at the violence, night after night, do we know what the mayor allows, doesnt allow, regarding National Guard troops, even state National Guard troops, local troops, to help out with it . Reporter my understanding is that the governor has refused the assistance of the National Guard and has refused any federal assistance from the president. Here in portland, you know, after a night of rioting or unlawful assemblies we read the Police Reports and typically, you know, police are allowing demonstrations to happen. They are allowing peaceful protests to happen at all hours. Police say we stand back and watch and allow them to go on until they become violent or what they become an Unlawful Assembly where fires are being lit or looting or vandalism. So police locally at least are allowing protests until they become violent or criminal. Of course you know, there is Video Showing Police striking some of the protesters but there is also plenty of Video Showing Police themselves having rocks thrown at them. Having bottles thrown at them. Also being attacked, neil. Neil just incredible. Thank you, matt. Matt finn following this. 95 consecutive nights. Closing in on 100 nights. Still no sign this will tamp down. Well see if the president address this is later on. He is going to mention law and order issue as he does at almost every Campaign Stop. He will be in North Carolina today. The Vice President , former Vice President , for his part will be in wilmington, delaware. Were following both developments. Something we touched on earlier in the forecast, douglas holtzeakin, former cbo director, he said our debt is getting bad. It is so bad now, what we owe exceeds the value of everything we have. In other words, were in the red. Right now the u. S. Government debt for 12 months ended, likely to end september 30th hit a milestone. Has never reached since world war ii. We owe more than what we are worth, at better than 100 of outstanding assets our debt swamps our assets. More after this. Snow. I cant stop worrying. Why cant i sleep at night . How do i deal with all this stress . When did the world get so scary . Hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. And yet, there is one person who said, i can give you peace that can never be shaken even in the worst of your circumstances. Jesus is the way the truth and the only giver of eternal life and he is inviting you to come and surrender to him. And he will give you unbelievable peace, a peace that seems too good to be true, but its true. Will you come to him . calm inspirational music [female voice] are you looking for a peace that can withstand any hardship life can bring . Visit findingtruepeace. Com to find answers. Again, thats findingtruepeace. Com. calm inspirational music im a verizon engineer, and im part of the Team Building the most powerful 5g experience for america. Its 5g ultra wideband, and its already available in parts of select cities. Like los angeles and in new york city. And its rolling out in cities around the country. With massive capacity, its like an eight lane highway compared to a two lane dirt road. 25x faster than todays 4g networks. In fact, its the fastest 5g in the world. From the network more people rely on. This is 5g built right. Only on verizon. Neil all right. So what did donald trump and joe biden have in common today . Theyre both going to be in wilmington. Different wilmingtons. The former Vice President in wilmington, delaware. The president of the United States, in wilmington, North Carolina. Each talking up their own respective cases to be the next guardian of the white house but again, at a time when law and order has begun to eclipse almost all other issues on a day the markets are making no issue of it. The dow up about 257 points so riding the political head winds with relative ease. Hillary vaughn following all the developments right now from wilmington, delaware. Hillary . Reporter well, President Trump boarded air force one and is on his way to wilmington, North Carolina, a key battleground state, while democratic nominee joe biden is staying close to home in wilmington, delaware. He just received a briefing from education and Health Experts on the best strategy to move forward with reopening schools. We are going to hear more from biden on that in his speech happening in this hour, but biden is also slamming trumps swing state stop today, saying trump has quote, criticized local leaders and threatened educators for listening to public Health Experts. President trump has said since july he wants to get kids back to school and in the classroom and white house economic adviser larry kudlow telling fox business this morning on varney they are trying to get congress to approve money for that. Kids should get back to school. I mean, regarding any of these congressional negotiations, schools and kids. Schools and kids. Not hard to understand. We dont have to spend a fortune. We just have to provide the necessary assistance. Reporter biden told me two weeks ago that he does support another nationwide shutdown including schools if doctors recommended it. Today, hes signaling that schools should also listen to scientists. Bidens wife, dr. Jill biden, is a teacher herself and she received a briefing yesterday on school reopening. She responded this morning in an interview to this photo of a crying kindergartener trying to do Distance Learning at home, clearly frustrated. Her response, though, was not we need to get kids back in the classroom but instead, we need to make Online Learning better. My message is when joe biden is elected, that he will be sitting there with his laptop with a smile on his face. Reporter we are also learning today that bidens next Campaign Stop will be in kenosha, wisconsin tomorrow. He will be following on the heels of President Trumps visit yesterday, which his campaign issued a statement late last night slamming President Trumps visit. Biden will have a Community Event there and also make a local stop. Neil . Neil hillary vaughn, thank you very very much. Hillary vaughn in wilmington, delaware. Regardless of where these guys are going, they are both picking up the pace. The president has already kept a very busy travel schedule and now out of the bunker, joe biden. A lot of critics say its about time. Others say you should make the time to visit these battleground states and indeed he is, beginning next week after labor day. Some are afraid hes played this too tight to the vest, too conservati conservatively in terms of strategy. Elijah collins is wall street journal columnist, much much more, and let me begin with you, get your take on whether you like or dislike joe biden, whether you like the president , not flipped over the president , clearly biden must be responding to pressure to get out more, speak out more, address the law and order issue. Hes going to kenosha tomorrow. Is that a worry . What do you think . There is certainly a segment of the Democratic Party that wanted him to get out more. What they really wanted him to do was to address the president s attacks on him on law and order. For a long time in the beginning of the summer they felt biden was on solid ground with the Racial Justice protests, really aligning himself with the movement, but as there has been violence in some cities, the president has really seized on those particular incidents and said that joe biden would make you unsafe. That attack kept gaining and you really saw it during the republican convention. So some democrats are pushing joe biden to address it. We saw him do that on monday in pennsylvania. He came out very strongly condemning the violence, separating it from those protests which i will point out, many of them have been peaceful. But there was certainly concern they were just letting the president attack him. Neil normally its about the economy, stupid, going back to bill clintons days, trying to beat an incumbent president. Now that seems to have racheted down as a priority and at the darndest time during a booming economy. I dont know what the employment report will be on friday. Lot of people are saying its going to show us an Unemployment Rate under double digits, maybe 9 something. But it might not have any impact. What do you think . Well, i very seldomly disagree with you. But i think im going to disagree with you this time. I do think actually the economy will, if its not the number one issue, it will be the number two issue. Clearly this whole Public Safety issue is huge. This is what everyone is seeing on the tv every night is the mayhem thats going on in these cities and people i think as time goes on are getting more disgusted by it. By the way, i have to say, i thought bidens speech yesterday was a very halfhearted attack on the rioting. It was a day late and a dollar short and he tried to blame, you know, crazily he tried to blame the rioting on donald trump which seems a bit of a stretch. But on the economic front, look, the news is getting better. Im really curious to see what that numbers going to be on jobs on friday. I think the adp report came out today, i think what was it, about 400,000 or 500,000 which was a little im hoping for a million jobs on friday. It looks like i might be a little bit overshooting that. But continued progress on jobs is really important for trump to win. Neil that adp report sort of takes a look at the services sector, how many jobs are being added, saw a gain of about 428,000 which is half of what a lot of experts were thinking. But the experts have been wrong on a lot of stuff already this year. Having said that, eliza, im wondering when they both hit the battleground states, i know we are always focused on the popular vote polls but really, what matters in a system where the electoral vote decides the winner, the battleground states, there, they are getting tight and the common theme among a lot of it is a lot of these cities where we have seen uprisings, protests, have been in battleground states. That is where the president is making his focus. How will this play out in the remaining 60 days or so until the election . You know, i have no idea whats going to happen in the next 60 days, but as you pointed out, those margins are much tighter than the national polling, biden is leading the president by pretty significant margins nationally. Hes leading in many but not all battleground states and most of them are by close margins. But in 2016, those states were decided by very, very small margins, so you know, its really all about who you can get to turn out. Theres a small section of the electorate that is probably still undecided but at this point, both sides are really trying to make the play for their base, so it depends. Is the president going to get his base riled up to show up about this law and order messaging or is joe biden going to be able to calm down enough people who are skeptical of him and get his voters in some of these cities like detroit, which is a very diverse city, where these protests, peaceful protests, very much matter and if he can get those folks to trust him and show up. Neil you know, steve, you are closer to the white house key people than i will ever be but one of the things ive learned is that a number of Top Republicans are saying we dont buy these polls and its not just the president s, you know, imagination or paranoia about them, we dont think they adequately reflect the silent trump voters out there and they harken back to 1968, the spiro agnew thing, the silent majority that were fed up with the violence they were seeing on tv. They are going to come out in droves and that thats not being reflected. Do you agree with that . Well, a couple observations here. Number one, this is an investment show, a business show, and whats so interesting to me, you are reporting every day on these blockbuster numbers on stocks and alltime highs on the s p and nasdaq and dow is getting back up to where it was prepandemic. You know, im scratching my head. I think a lot of people are saying wait a minute, you know, is this a reflection that investors believe donald trump will win the election and that has to be part of the explanation. Look, whether you are democrat or republican, joe biden is talking about big, big increases in taxes on investors, big increases on the Corporate Tax, huge increases in the Capital Gains tax, that would, you know, that would really do damage to the value of stocks. So its puzzling to me and i think the white house, by the way, does believe that these polls are probably wrong by about three or four percentage points. Thats because i dont think theres any question, there is a silent majority of people, i meet them every day, who say i dont tell pollsters, i keep my mouth shut, im not telling people im going to vote for trump. I worked on the 2016 campaign. At this point, people said that Hillary Clinton was a 90 chance of winning based on the polling and of course, it didnt quite turn out that way. Neil we will watch closely. Guys, i want to thank you very very much. Another Interesting Development happened last night in massachusetts. I dont know if you have been following this race. It was a democratic primary for a senate seat held by ed markey. In massachusetts. His challenger was a fellow you know very very well, joe kennedy, the congressman, the son of the congressman, the grandson of robert f. Kennedy, grandnephew of john f. Kennedy, and the establishment was behind kennedy. That included nancy pelosi, steny hoyer, backing markey were representative ocasiocortez and Elizabeth Warren. So the renegade Progressive Movement of the party. Markey won. Is that an indictment of the more moderating approach of the Kennedy Family that dates back to john f. Kennedy himself, of course, the one who espoused tax cuts at a time his party clearly did not . Lets get the read on all this. Charles payne is with us right now. Hes 50 minutes away from his america invests together special. Looking forward to that. Charles, i did want to get your thoughts on that race. I dont think it was just a local anomaly here. I think it was a significant development. What do you think . Charles it was far from just a local event. To your point, nancy pelosi weighed in, aoc weighed in, Elizabeth Warren weighed in, and people need to understand this is not the first time that aoc has won one of these major primaries where they have kicked out someone who is either wellestablished within the party or someone who actually had been elected for a long period of time. Heres the thing. You guys were just talking about the president ial election. Theres no way in the world a joe biden president does not, does not have to appease, adhere or listen to the aoc branch and so when we talk about well, taxes on businesses only will go up to 28 . No, i think they are going to go a lot higher. I think taxes across the board are going to go higher. I think they are going to be a whole lot more progressive policies out there because aoc is the kingmaker. Bottom line. Whether you like her or not, she has become a force in the Democratic Party and we saw it yesterday. When joe kennedy announced he was running, everyone thought okay, this is it, hes won. Ed markey, i went the an event with him 30 years ago, the 21 club, and you know, hes been around for awhile. Just like joe biden, they repackage them, hes embraced the green new deal, and this is amazing. How they got in there was also amazing. Strong social media, this whole thing, stalker plus fan combined into one word, young people, energetic. The party is lacking energy, theres no doubt about it. This is the only groundswell of energy but it comes from aoc and comes with a price. Neil think about Elizabeth Warren, shes the one who advocated the top rate should be closer to 50 rather than 39. 6 joe biden wants to revisit, get it back up to that level. It could be interesting. Obviously fodder for your virtual town hall. Looking very forward to that, my friend. Charles thank you. Neil thank you very much. Charles payne, following all of that. You know, its interesting, too, when we talk about who rules in the party, how certain things look when you are advocating for fairness for all, and then you are caught doing something that not everyone else can do. The fallout from a certain visit to a salon by the speaker of the house, after this. The big events are back. Xfinity is your home for the return of live sports. Neil shares of amc are spiking right now on news that the chain is saying about 70 of its locations will be open this weekend, including new jersey. That means throughout the labor day weekend, it will have the highest percentage of stores and theaters open that has enjoyed post the pandemic period, especially in the early days. The stock jumping ahead about 14 on this news. What a lot of these theater chains is facing is once they start playing, new releases are limited, but they are being creative. Distancing rules will be in effect, about quarter percent capacity, the most you can have in any given theater, throughout the theater complex is 150 individuals. We will be looking at that. For amc shares, they are dashing ahead on that. Meanwhile, back to california and whats happening right now. With salon owners and the like who are taking it on the chin with delayed openings and the like. Along comes this video that has now gone viral on nancy pelosi enjoying a private haircut, private salon treatment. That generally is not afforded to others in the state and thats whats sticking in a lot of peoples craw. Wendy diaz is salon w owner in lodi, california. Very good to have you. You saw this and what did you think . I was in shock, actually. I was waiting for it to be not true and then it was true. So i just found it so hypocri hypocritical because we have been told that if we open prior to us being able to open in lodi that we would get our license revok revoked, so it was just pretty much pure shock. Neil if you can hang in there, i want to bring in the owner of circle relaxation. Its very difficult to do what you do outside but having said that, what did you think of this when you heard about this treatment nancy pe lolosi was getting . Her folks have been saying she was complying with what the local owner said was allowed, individual oneonone treatments, and that was okay. Local ordinances and state ordinances are saying quite the opposite but what did you think . So the personal Care Industry in california has been closed down since march 17th. That is our entire industry. That includes nail techs, massage therapists, tattoo artists, the entire industry has been closed since march 17th so to see nancy pelosi getting her hair done indoors was absolutely a slap in the face to every Single Person in our personal Care Industry throughout california that has been struggling and fighting to work inside for the last six months. Not only that, it was a slap in the face to every single Small Business owner in our industry that has been forced to close down our businesses for good over the last six months because of the arbitrary guidelines put in place by the california elected officials and a slap in the face to every single Business Owner and employee that deals with the crippling anxiety and stress and depression of not knowing how they are going to pay the rent on their businesses or put a house over their head or these are families without taking a second essential job in a business, essential job in a business that is arguably a lot less safe than the sanitary businesses and establishments we have created for ourselves. Neil im just curious, wendy, i will ask you this, do you are you allowed to have one customer . In other words, one customer comes in, i want to get a haircut, you know, whatever, one person, because thats what happened here, that one person was nancy pelosi. We are allowed to have clients in lodi. I know in San Francisco they are not allowed to have indoor people at all right now. They just started their outdoor on monday per gavin newsom. Neil got it. All right. Im trying to take at face value then nancy pelosi is saying she was adhering to the rules as she understood the salon knew them to be and the salon said, youre right, i think wendys right, this was a San Francisco salon. Yeah. San francisco salons are not able to operate indoors at all. We have been completely shut down since march 17th. Recently, our mayor has allowed us to have Hair Services outdoors but that is just dry cut. That doesnt include any type of washing or blow drying or color. So being indoors was not allowed at all and to be clear, im not mad at nancy pelosi for getting her hair done or gavin newsom for obviously getting his hair done every single month or the mayor for doing the same. Its the hypocrisy that goes along with it that we are being forced to close our businesses every single day and are told we are a high risk industry without being shown any data to back that up. Neil wild stuff. Ladies, i want to thank you both very much. I just wanted to get to the bottom of this. Normally we just dont play gratuitously video over and over again without trying to take it to the next level here. I wanted to find out is this allowed, furthermore, do other salons, are they allowed to do the same thing. Consistent read im getting is no, that is not the case. Meantime, i think is president speaking . Joe biden is. Can we dip into this a little bit . Are paying the price for his failures. His administrations failures. Like many of you, because you are all reporters, you also have a lot of friends and you have children and you are probably hearing the same thing im hearing throughout this pandemic. They are struggling to figure out how to do the right thing. But theyre worried. Theyre worried like the devil. What does it mean for my kids, is this setting my childs education back beyond just a semester, what impact will it have. Hows my child going to catch up. What if im not doing enough to help my child succeed . All those questions, the selfdoubt thats been engaged. President trump may not think this is a National Emergency but i think going back to school for millions of children and the impacts on their family and the community is a National Emergency. I believe thats what it is. Protecting our students, our educators, our communities, getting our schools open safely and effectively, this is a National Emergency. But President Trump still doesnt have a real plan for how to open our schools safely. No real plan for how to help parents feel secure for their children. Hes offering nothing but failure and delusions from the start to finish to american families, and our children are paying the price for his failures. Failure to take this virus seriously early on in january and february and it spread around the globe. Failure to take steps we needed back in march and april to get this pandemic under control, to institute widespread testing and tracing, to control the spread. Failure to provide clear national sciencebased guidelines to state and local authorities. And failure to model an even basic responsibility like socially distancing and wearing a mask, and failure to make sure educators and administrators have the equipment, the resources and the training they need to open safely under the circumstances we find now. Donald trump and betsy devos, secretary devos, havent stepped up. We are all seeing the results. Millions of students are now starting a new school year in the same way they finished the last one, at home. At home. Parents are doing their best, but more and more were finding them at wits end, struggling to balance work and child care and educational duties. Or worrying about their lost paycheck. Neil we are going to continue monitoring the speech of joe biden in delaware, talking about virus concerns, might bring up law and order issues. He is supposed to go to kenosha, wisconsin tomorrow. The president of course was there yesterday. We will be monitoring this very close because we do understand in a rare event he will be taking questions. I dont know how many or how soon but its possible. Thats something you always wait for when either candidate is speaking. We will keep an eye on that. Also keeping an eye at the corner of wall and broad right now. Markets racing ahead. The dow now up better than 300 points. Have the markets already factored in the election . Charlie gasparino was talking to a lot of folks on what theyre seeing, what theyre handicapping and how theyre playing this. Very close to the strevest. After this. I had shingles. Horrible. A young thing like me . 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Neil we are continuing to monitor the former Vice President joe biden, hes speaking right now in wilmington, delaware about the need to eventually get schools reopened but to do it the right way, he says essentially not the president s way, and said he has a plan to reopen them safely and to help kids who right now are betwixt and between, learning at home virtually or sometimes not liking it or getting anything out of it, to eventually getting them in person. He hasnt spelled out dates or time plans on any of this, from what i understand, but again, i have not been personally monitoring all of this. So he is taking questions right now, i believe. Lets take a peek. Reporter thank you, mr. Vice president. Two quick questions for you, if i may. First, ahead of your trip to kenosha, wisconsin tomorrow, last week your running mate, senator harris, said that the officer who shot jacob blake, based on what she had seen, should be charged. Do you agree with her and do you also believe the same for the officers who were involved in the death of Breonna Taylor . I think we should let the judicial system work its way. I do think theres a minimum need to be charged, the officers, and as well as Breonna Taylor and i might add, by the way, i think what happened in portland, where one of the trump guys riding along in vans inciting response, shooting rubber bullets i guess or paintballs, apparently there was someone shot by someone in the crowd with a bullet, killed. I think that person should meet legal requirements of whatever that calls for. It should be investigated and they should follow through on what needs to be done. Let the judicial system work. Lets make sure justice is done. Reporter just quickly on a different topic, theres a new book by the New York Times Michael Schmidt that says when President Trump made an unannounced visit to Walter Reed Hospital in 2019, Vice President pence was told to be on standby to take over in case President Trump had to receive anesthesia. Pence said last night he doesnt recall being told that. As Vice President , were you ever told to be on standby or given any kind of special alert, that president obama was going in for a medical appointment . I also wonder whether you have any concerns about the fact that walter reed visit that President Trump made, it didnt follow prior protocol about president ial visits for medical examination. Im not going to speculate on what it means. What i can say is that nothing this administration does is normal. So im not being facetious when i say that. So who in gods name knows what its all about. I just dont know. I dont know. And im not going to speculate. Ill let the experts do that. The only time that i have been on notice is when the president s out of the country and im in the country, not that i should wait for something to be immediately be aware of anything, but that thats something that might be called for. It wasnt called for. Reporter thank you. Thank you, mr. Vice president. Local democratic officials including the governor had previously discouraged President Trump from visiting kenosha and just yesterday the president of the local naacp said he didnt want to see either of the candidates including yourself visit, that this is such a sensitive situation in the city. Why is now the right time for you to go to kenosha and what do you hope to accomplish tomorrow . Well, we have spoken to all the leaders up there and although i have an outstanding call with the governor, i have dealt with his staff, and theres been overwhelming request that i do come because what we want to do, we got to heal. We got to put things together, bring people together. So my purpose in going will be to do just that, to be a positive influence on whats going on, talk about what need be done and try to see if theres a beginning of a mechanism to bring the folks together. We have to heal. This is about making sure that we move forward. So ive gotten advice from sitting members of the congress and the senate as well to go, and that i should go. Im not going to do anything other than meet with meetings with Community Leaders as well as Business People and other folks in Law Enforcement, and to see, start to talk about what has to be done. Im not going to tell kenosha what they have to do. What we have to do together. The idea that we are saying, you know, the president s having people retreat to their corners and keep this moving is just a mistake. I spent my whole life, including in the city youre in right now, bringing people together, bringing the community and Police Officers together, bringing Business Leaders and Civic Leaders together. So thats my purpose in going. Reporter on the fact you are traveling to wisconsin at all, i believe this is only the third time in the last few months since the onset of the pandemic you will be on a plane. You talked about how you want to make sure you follow all the advice of your doctors in terms of campaigning safely, but the question we keep hearing from voters, some others, is why arent you out there more. Are you maybe aware the president was calling into question your Campaign Schedule today. How far are you willing to push the envelope of whats safe in order to get your message out and to be among the voters, speak to them directly . Well, i think my message is getting out based on what all the polling data shows, and the millions of people who have watched what ive had to say and the circumstances in which ive said it. But i would like to get out more but i think a president has a responsibility to set examples, set the right example for how to get out, not go out and not wear a mask and not to have large crowds of people standing next to him and not Wearing Masks, not being a potential cauldron for significant outbreaks of covid, so what ive done is ive met with via, i did this morning, with the medical experts, so we worked out a protocol where how i get on the plane, what kind of plane i get on, how its sanitized, how i engage people. Its like when im engaging all of you everywhere i go. Its always at a safe distance and everybodys Wearing Masks. The vast majority of people that im meeting with have been, have come into my home, staff and the like, are all tested as well. Im just trying to set the example, wearing the protective gear, the mask, which i have with me. Im able at this distance to take it off. Number one. Number two, making sure that we proceed in a way with adequate social distancing and do it the right way. Reporter quickly, they announced the format and moderators of the president ial debate today. Kristen welker batting cleanup for the president ial debate. Is there anything that could dissuade you from participating and how have you begun to prepare . Well, i have begun to prepare by going over what the president has said, the multiple lies hes told. What i would love to have is a crawler at the bottom of the screen, a factchecker when we speak. If we really wanted to do something, i think that would make a great, great debate if everything both of us said was instantly factchecked by an agreedto group of people out there that we move forward. But that probably wouldnt get very far in the debate. No, im looking forward to debating the president , and im going to lay out as clearly as i can what i think we have to do to bring this country back and build it back better, and im looking forward to the debate. Reporter thank you, mr. Vice president. One of the things that i have heard a lot from voters across the country is that a lot of them are worried and concerned about some of the ongoing violence we have seen in cities in this country including the situation in kenosha, wisconsin, where you are headed. Im curious, obviously you are not president now and donald trump is, but im curious, if you were president , what would you do to ensure that people are kept safe in situations like these . First of all, i wouldnt incite violence. I would condemn it when it occurred. I would move to look, the vast majority of Police Officers are good, decent, honorable women and men. They pin on that shield every morning and they have a right to go home that night safely. The vast majority. But just those who are not good cops, all the police i have dealt with my whole life, i have been dealing with, i have gotten overwhelming support from Law Enforcement through my whole career. Theyre the ones that want to get rid of the bad cops even more than anybody else does because it reflects on them. Number one. Number two, i would make sure everybody understood if i were president that any violence, any violence, protesting is a right and free speech is a right. But to engage in violence, burning, looting, the rest, in the name of protesting, is wrong. And that persons should be held accountable for their actions. So what i would be doing, i would be bringing people together in the white house right now. I would be having that Police Commission set up, i would have Law Enforcement at the table, i would have the community at the table, i would have people saying how do we get through this, what do we do to deal with this, because i believe the vast majority of the community writ large as well as Law Enforcement want to straighten things out, not inflame things. But this president keeps throwing gasoline on the fire. Every place he goes. I noticed, i didnt watch much of it, but i watched the reports from all of you, not all, from the press, and you know, when he was asked about what should be done with regard to the young man shot in the back seven times in front of his children, i didnt hear much of anything come from him. What should we be doing about, we went down the line. We should take responsibility. As much as he would like to be running against somebody else, hes running against me. Joe biden. And the fact is that he is not acting very responsibly. Reporter you have outlined your plan to reopen schools safely but what about what happens in the interim . Right now, millions of parents across the country are facing this very Impossible Task of trying to work fulltime and help their children fulltime to learn virtually. What is your message to these parents and what can you do to help them while you work to reopen schools . Help is on the way. I have laid out a clear plan for child care, a clear plan for starting Early Education as well so 3 and 4 and 5yearolds are in school, but im not president right now. What we should be doing is we should be providing for more help for people who in fact are trying to juggle the choice between do i stay home with my 3, 4 or 5yearold, and take care of them, in the middle of this covid problem, or do i go to work and earn a salary. What do i do. So thats why we have, i have a Major Initiative to deal with child care and elder care so people can be adequately paid to come and take care of folks, children as well as the elderly that you may be taking care of, a parent, a husband or wife may be taking care of, as well as making sure that those parents are able to get back to work. Thats why focusing on Day Care Centers and making sure they are safe and healthy now is equally as important as almost as equally as important as dealing with schools. We should be providing all of the ppe and all of the safety that is necessary and sanitary capacity to allow them to open. Hundreds of them have been opening because some states have gone in and done that. There should be universal guidance coming from the president of the United States of america. There should be basic standards to how, in fact, what circumstances you can safely open a Day Care Center. You can safely open a Child Care Center. In addition to that, in the future, the idea this has brought home a number of glaring problems we have in america, this whole pandemic and whats happened in terms of jobs. The idea that were in a situation where you have so many parents who have to make the difficult choice as a single parent or both working parents to decide whether one gives up their salary and stays home with a child under the age of 5 or 6, and or somehow leaves them with somebody that is not particularly qualified and goes to work so they can earn a living is a choice that is one we shouldnt be making. We are the only industrialized country in the world that forces people to make that kind of choice. So there should be no one should have to pay more than 7 of their income to provide for child care. And be able to go to work. This is something that is a major element of my build back better program. But in the meantime, in the meantime the most important thing that can be done is have cdc issue really straightforward guidelines on what circumstances you should be able to open up your Day Care Center or your Child Care Center now and there should be clear standards. And states should have the wherewithal to be able to go out and inspect those facilities now. But you know, one thing i havent mentioned and i think it warrants mentioning, one of the things we did, remember when we inherited the great recession, and we were going into the tank, heading off the cliff, heading to a depression, i was able to convince three republicans to change their vote and we ended up with the socalled recovery act. We spent over 800 billion in 18 months. Kept us from going into depression. But what did we do . We spent almost, we spent billions of dollars making sure that states were able to maintain their essential workers. Everyone from the fire department, the school teachers, doctors, nurses, public hospitals. Now whats happening . This Republican Administration will not support that and the Republican Leadership in the United States senate will not support it so whats happening . We dont have that help. Its not out there. States are in real trouble and to quote my good friend mitch mcconnell, he said let the states go bankrupt. States have to balance their budgets under the law. Communities, counties, cities, they have to balance their budget. Theres a reason why the federal government is able to run a deficit. To compensate in times of real economic crisis. Whats happening . Nothing. Nothing. Guess what . We came out of that recession with the longest period of Economic Growth of any administration in american history. But i could go on. Businesses, look at the money that was passed under the cares act for businesses, Small Businesses able to stay open. You got tens of thousands of them going out of business, many of them permanently. Why . Because the money didnt get to Small Businesses. Theyre not open. We should be dealing with those businesses that have been burnt out and damaged. We should be providing federal help for those businesses to get back on their feet. But this administration seems to think its all of a sudden going to go away like angel dust is going to be sprayed around. Everything is going to be okay. I just dont get it. They have to know better. They have to know better. And we had an example just the last administration of how much good you can do and how much growth you can generate. I just dont get these guys. I really dont. Not a joke. I have been doing this a long time but i have never seen a president lack as much leadership, inability to make a deal, and you got, im told the reason they cant get anything done in the Republican Congress is 20 members of the United States senate say under no circumstances will they raise the deficit at all. Well, thats wonderful. If we are in the position were in now. Look at other countries. They are doing one hell of a lot better. Yet we still have over its up to 186,000 people dead, over six million, 6,300,000, whatever the number is, have contracted the disease with no end in sight. Its just irresponsible. Talk about a knownothing congress on the republican side, knownothing president. I dont get it. I really dont get it. But its going to change come january, god willing. Reporter sir, what do you say to the teachers who are afraid to return to the classroom even if the safety protocols you have proposed are in place . Well, i say that i understand their concern, because so many of the teachers also have other preexisting conditions that lend itself to the fact that if they were to contract the covid disease, covid19, that they would be very susceptible to being in real trouble. So its understandable why theyre doing it. But the first thing to do is make sure that all the protective capacity that we have available to us is made available and then make choices about whether or not, let the districts make choices about whether or not they open fully, whether they rotate and whether or not those teachers are able to be able to teach from home and remote learning. But its really understandable why they would look, look whats happened in this covid crisis so far. 100,000 people have died who were above the age of 65. 100,000 out of the 200 some that have died not 200 some, 189 or whatever it is now. The estimate i heard today, the estimates range from two significant universities, one, theres going to be as many as 239, i think, and another one said by december, 312. I dont know that but its going to go higher. So i just dont i dont understand why its a political problem. What is the politics about not being willing to go in and help provide the protective capacity for people to be able to go back to work . And to go to school . I just dont i cant fathom it. Reporter thank you, mr. Vice president. You talked today about reopening schools. Want to ask you about something you said last week about the potential of having to shut down the economy again, perhaps you will be willing to shut it down if your Health Experts advise you to do so. You said quote, i would be prepared to do whatever it takes and you would listen to the scientists. But im curious how you would do that at a federal level and how you would balance that call to shut down potentially if you had economic advisers saying you do this again, you could plunge the country into an even deeper economic crisis. Well, look, i know you are tired of hearing me say this. I have been saying it since last january. The idea that you are going to be able to get the economy back on track without getting covid under control is completely counterintuitive. Its not there. It cant happen. So unless we are able to deal with the disease, and drastically cut its impact on peoples confidence in being able to either go to work or walk into a business or do business, then it doesnt matter. Theres going to be no need in my view to be able to shut down the whole economy. I got asked by david muir a question if i was asked to shut everything down, i took that as a generic question, am i going to follow the science. I am going to insist and i insist now without any authority, that every responsible person in this country, when they are out in public or not a cohort they have lived with because they know they havent spread it to their husband, wife, et cetera, that they wear a mask. That they wear a mask and keep socially distanced. You can take a mask off when you are 12, 15 feet away. But i would follow, i would really really make the case. By the way, when i find these folks talking about my freedom, i talk about patriotism. Why do you wear a mask . To protect your neighbor. To keep someone else from getting sick and maybe dying. I call that patriotic. This is the United States of america. Every generation has made sacrifices to help others in moments of crisis. Reporter but you have suggested there will be some kind of federal mandate about masks. Now you are saying no, no. What i suggested was i would ask every person in authority, theres a question whether or not the president under the constitution could mandate everyone wear a mask. Remember, all during the primary, i had a lot of people telling me i would by executive order do im a constitutionalist. You cant do things the constitution doesnt allow you the power to do. What i would be doing is putting as much pressure as i could on every governor, every senator, excuse me, every mayor, every county executive, every local official, and everyone in business, putting pressure on them to say what youre doing is irresponsible. Make sure you wear a mask and maintain social distancing. The vast majority of the American People accept that notion. Reporter one more quick campaign question. You raised 364. 5 million, your campaign, and the dnc last month. A record for a monthly haul, apparently. How you going to spend it . You want to go to dinner . No, tell you what, look, what im having to spend a lot of it on is to counter the lies that are being told by my by Trumps Campaign and the new pac out there. What im trying to do is spend most of that and by the way, i think the average contribution was like 40 bucks. We have over 1,600,000 people who contributed in the middle of this economic crisis, somewhere between 5, 10, 15. I would say that shows some genuine enthusiasm about wanting to make sure that we have a chance of becoming president of the United States. So what i will spend most of it doing is trying to explain to the American People how i want to unite the country. What i want to do to make the country better, why im so confident we can do it, why im so confident that we can bring the country together and be in a better because there has been so many fissures exposed as a consequence whats happened, that people are now realizing, my lord, i didnt know that people in that circumstance didnt have that kind of help. I didnt know, whatever, so i think we have an enormous opportunity to bring the country together. Once again, lead the world, you heard me say it 100 times, not just by the example of our power but the power of our example. Thank you all so very much for taking time. One more question. You always ask a hostile question but go ahead. A hostile question . Go ahead. You said recently you [inaudible]. You said you warned President Trump in january that there was going to be a pandemic and what needed to be done. If you knew that, then why were you still hosting crowded Campaign Rallies in march . No, what i talked about was, not what had to be done, what i said, you got to take this seriously. You have got to insist that we have access to wuhan, insist we have access to china to find out for ourselves. We had 44 people of the cdc there. You cannot continue to talk about the president of china saying he has done a marvelous job, he is doing a great job. When it got up to march, i kept saying look, youve got to invoke, you remember, i think i was the first, i may be mistaken, person calling about the defense production act. We dont have enough of, amazing, use phrase like ppe, public knows what that is now, protective equipment, fear, ventilators, use that authority. Use it to go out there now, dont wait. Dont wait. Neil well continue monitoring the former Vice President was trying to explain he has been a critic of the president from the getgo, in middle of march, in middle of pandemic he was hosting Campaign Rallies. He was making clear that president was not taking it seriously. Joe biden, what he would do differently regarding the virus, some of his plans, echo exactly what President Trump continues to do about that virus. Well continue monitoring this. Weve got the Dow Jones Industrials sprinting ahead, either ignoring this, just on to other things like improved earnings and prospects and improvement on the virus itself. Optimism that so much is with violence in so many cities in this country is taming down. At least that is their hope. Charles payne, takes a look at all of this on a special virtual town hall. Charles good afternoon. Welcome to a very special fox business town hall, america invests together. Im your host charles payne. This town hall, well it is very important and personal for me because the stock market and investing changed my life and i know it can change anyones life for the better with the proper approach. At 12 years old i lived in a single room with my mom and two younger brothers. When i got my own apartment, the place you live in doesnt automatically come with heat or hot water even in the winter. We climbed over drunk junkies to get to