From the fox studios in new york city this is Maria Bartiromo wall street. Happy weekend to all, welcome to the program that analyzes the week that was in hopes position you for the week ahead. I am Maria Bartiromo, thank you for joining us, the u. S. On the brink of his spring surge of Illegal Migrants at the southern border and they all know who his political policies are letting the men one honduran migrant showing off at eagle pass texas with the teacher from President Bidens 2020 campaign, watch. [speaking in native tongue] maria hours after the president s state of the Union Address counting all he is supposedly done to secure our border a new large group of illegal crossers was apprehended friday morning by texas dps and eagle pass critics are warning that the influx of thousands of unvented military age military migrants into the country is creating a National Security threat setting the stage for something far worse than september 11. Even some democrats are fed up with bidens failure to secure the border democrat shira Danny Dominguez was a guest of ted cruz thursday night as part of a growing coalition of democrats backing the republicans for reelection. Ive the democratic sheriff of 20 years ive been at the border for the last two years the security is out of control. Maria senator ted cruz joins me right now. Good to have you, thank you for joining us, there is Common Ground whether republican or democrat when talking about the wideopen border. That is exactly right i gotta say people in texas are looking at what is happening under joe biden and you cannot defend it its an absolute catastrophe. This is an invasion of our southern border template for a meeting of Illegal Immigrants have come in under joe biden and when you are down in south texas and as sheriff domingos is in your scene every day in the dead bodies 853 migrants died last year coming into the country every day dead body after dead body after dead body, texas farmers and ranchers finding them every day when you look at the children as i have many times and you look at little boys and little girls that have been brutalized by human traffickers and women who have been brutally raped and when you see the pain and the suffering of more than 100,000 americans have died of drug overdoses in the last year you cannot defend joe bidens open border and i have to say across texas people are saying this has got to stop we have to change the password on because were endangering the safety of our families and the safety of our National Security. Maria i would take issue with the word overdose, i dont think these are overdoses at all this is flat out poisoning, the poisoning is coming from the communist party of china and i want to get your take on this one of your colleagues senator Roger Marshall said the ccp is working with the mexican cartels and bringing people into the border and setting up businesses in america like massage parlors that are actually fronts for human trafficking. I have seen at the border i was in brownsville six or seven months ago and when i was down there there were primarily groups with chinese nationals and there were groups of 20 or 30 or 40 military aged single men not families or kids just young men one after the other after the other. Last i checked when i looked at the globe china is not to the south of america is not even close in their deliberately sending chinese nationals down to mexico to cross into the United States and i have to say the Public Safety threat is enormous but the National Security threat may be greater and i tell you when i talk to Border Patrol agent and i spend a lot of time on our southern border they are very worried how Thomas Harrison hezbollah terrorists crossing the southern border sheriff domingos when i talked with him was very concerned about terrorists coming into this country and i think today we have a greater risk of a major terrorist attack that we had any time since september 11, 2001 and thats a result of deliberate decisions made by joe biden and by Congressional Democrats to open up the border and allow this invasion to happen. Maria 340 people apprehended that are now on the terrorist watch list on joe bidens walk but he did not mention that the state of the union on thursday night. It almost sounded like it was a Campaign Speech. At one point i had him aggressively targeting the Supreme Court justices who were there in the audience in abolishing them over rove he weighed the left giddy over bidens brazen attacks calling it astonishing. The way he attacked is the word for the Supreme Court to their faces that is never been done before this was not the night for that, that was astonishing. Hes ready to take it to the next level i thought this was a remarkable state of the union. Maria senator your reaction. I was on the floor during the speech and i gotta say i agree with adjective it was remarkable it was a Campaign Speech, this was angry, bitter, most of the time he was yelling and it was radical in extreme it was hard left and it appears the Biden White House made the decision for november that they dont want any republicans to vote for them or dependence in this was aimed at the squad and they felt that they needed to get Elizabeth Warren and Bernie Sanders and aoc back on board but ive never seen a state of the union with the president doesnt smile he snarls and goes and joe biden was a man of assent of 40 plus years before the speech one of the things there were four words we didnt hear laken riley and jeremy get serious when a heckler called out, he got laken riley wrong he said Lincoln Riley a football coach instead of understated a beautiful 22yearold young woman murdered in georgia she was out jogging and beaten to death by an illegal alien who joe biden had released and jeremy is another he is a little boy 2yearold boy in virginia who was murdered just a few weeks ago by an illegal alien joe biden had released he did not mention that he took no responsibility when he mentioned they can rileys name i was upset he said i feel your pain im sorry your daughter died but he took no responsibility for his direct culpability. Listen his policy are endangering the lives of americans he had not a word about at the speech. Maria amazingly for the state of the union he began with ukraine and money to ukraine it was quite stunning, good to catch up with you, thank you, sir. Thank you maria. Senator ted cruz another strong jobs report exceeding expectations but at President Biden gets his way on new taxes, you know, when i take the bike out like this, all my stresses just melt away. I hear that. This bad boy can fix anything. Yep, tough day at work, nice cruise will sort you right out. When im riding, im not even thinking about my painful cavity. Well, you shouldnt ignore that. And every time i get stressed about having to pay my bills, i just hop on the bike, man. Oh, come on, man, you got to pay your bills. You dont have to worry about anything when youre protected by americas numberone motorcycle insurer. Well, you definitely do. Those things arent related, so. Ah, yee oh, that is a vibrating pain. 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A betterthanexpected job report for the month of february on friday 275,000 jobs added to the economy for the month blowing away expectations which call for 200,000 jobs, the Unemployment Rate ticked higher to 3. 9 but there are questions about all the revisions that we have been seen after the fact december and january showing 167,000 fewer jobs that were created and reported originally to automate forbes media chairman steve forbes and bahnson managing Group Partner cio David Bahnsen he is also the author of the new book fulltime work and the meaning of life. Your assessment on the jobs number on friday, steve forbes. The headline was better than underlying figures you pointed out the revision cf to take a grain of salt on the initial reports. If you look at the Household Survey which better measures was happening to Small Businesses that was on 184,000 yearoveryear fabric from last year from february to the shar shared. The jobs market is much weaker than the headline number suggests and as you pointed out before much of it disproportionately is healthcare and government, that is not a way you build a strong economy. Maria is this what we will see going into the election, david how do you see it. A little different perspective and then steve i agree on one hand there is a significant structural weakness that is bothered me for years the lower Labor Participation force thats because i want more people that have a job are looking for a job in the bls does not measure that theyre measuring in the context of people looking for a job. I dont think its easy to say theres a lot of people out there that want a job they cant find one. It is true that we have a slightly higher percentage of government workers and healthcare workers in the last couple of reports but the revisions have not been much higher than they historically have always a little off which speaks to the seasonal methodology which is not very good its a tough thing to measure but the most part in the weekly jobless claims there are not a lot of unemployed people, that is a good thing but i agree with steve, what i want is Productive Work that to me is what the Government Spending is crowding out were not getting the productivity that we need. Maria isnt that right the Federal Reserve is trying to take inflation down and has been somewhat successful in taking us down from the highs but the fed is facing a tsunami of stimulus money and too many dollars chasing too few goods because of all of the spending as david mentioned. The spending is flowing into the economy, you can see whats happening with Commodity Prices and the gold price which is been reaching recent highs thats not a good sign for future monetary inflation, the Federal Reserve has gotta get over the idea that you would bring down inflation by trashing the economy. What we need is a stable dollar but thats out of the thinking of the fed is stable value for the dollar sober and for tough waters because theyre working off the wrong model. Maria there is a threat to all the job growth that were talking about at President Biden gets his way on taxes, take a listen to this with the state of the union. The last administration enacted in 2 trillion tax cut overwhelmingly belly fitting the top 2 is time to raise to 21 . I propose a minimum tax for billionaires for 215 . Maria what about that the state of the union, the president leaned into some of the populace things that seem to work on people, it sounded like a Campaign Speech but he said he wants to raise taxes on companies and the wealthiest in the highest earners. We know theyre raising revenue but apprising a burden and by raising the price and the burden of Capital Creation and telling businesses even if you invest working to take more and more of what you make youre getting at less productive investment. This is pandering about populism and is going to hurt the economy and is also going to make businesses hesitant, we dont know what the election result is going to be so we better hold back to see what the rules are going to be after november, bad stuff. Maria what do you think. Its really disappointed that the class warfare issue is a big part of american conversation but its also totally untrue factually, the tax code is extremely progressive, the business tax cut enacted in the jumper administration created jobs, it brought a trillion in half dollars back on shore that it been repatriated we are still from some of that, on the margin there is no question that companies that pay less taxes have available to invest in the company is better for everybody it is better for jobs, wages and profits which are the mothers milk of economic activity. This was a ridiculous point and he also didnt even get to the biggest tax of all, the regulation the Regulatory Environment that is a further burden and price as my friend steve says on american business. Maria it is a great point and it looks like were going to see more regulations coming out of this administration, gentlemen, great conversation we appreciate your time, thank you. Steve forbes, David Bahnsen, the Restaurant Industry feeling the heat as it gets hit by rising laser under labor and food inflation is starting to impact the prices on the menu. Restaurant tour in the father jorge has always put the ones he loves first. But when it comes to caring for his teeth hes let his own maintenance take a back seat. Well maybe its time to shift gears on that. Because aspen dental has the latest technology and equipment. With a staff that goes out of their way to provide exceptional care. Plus free exams and xrays for new patients without insurance and 20 off treatment plans. Making it easier to get started with quality care. Its one more way aspen dental is in your corner. A force to be reckon with. No, not you saquon. Hm . You your Business Bank account with quickbooks money, now earns 5 apy. 5 apy . Thats new yup, thats how you business differently. Are you keeping as much of your investment gains as possible . High taxes can erode returns quickly. At creative planning, your portfolio is managed in a taxefficient manner. Its what you keep that really matters. Book your free meeting today at creativeplanning. Com. Everything is up 30 40 to where it was the food Dining Trends have changed theres not as many bots and seeds, are menu costs have gone up exponentially to try and stay alive. Local Restaurant Owner struggling to make ends meet forcing menu prices higher, the wall street journal highlighting the issue this week, independent restaurants are on Financial Life support squeeze between escalating payroll cost and diners dwindling tolerance for ever higher checks, the cost of eating out jumping better than 5 compared to one year ago as Small Business owners are shelling out for higher minimum wages with the average salary pay to get up to nearly 20, new york city restaurant tour joe germanotta. Thank you for being here. Hi, how would you been. How would you assess your cost are you in the same camp of the people that you are speaking with in terms of the pressure to raise wages and swallow the cost. Absolutely. The hard part is the food cost are going up and have gone up 15 18 in labor cost is always 30 or 40 of the business and any increase really takes a big bite out of the company. Maria how significant is increasing food from your standpoint. The increase in food i would say 5 over last years. Maria are you passing that on to customers by being forced to raise prices . Initially i was trying to maintain but it got too expensive and we tried to do the biden translation, we tried to do a little bit of that but is still mandated that we do a price lift outside 7 , based upon the item. Maria how significant is the increase in labor cost been, tell me about that because i know that is one of the most significant issues for Small Business owners right now. Whats happening for the waitstaff theyre getting take away potentially the tip credit, right now its about 5, we pay 10. 65 an hour a waiter they take away the credit if you add the tip credit of 5 she get 20 an hour which meets the minimum wage and if they take that away theyre going to bump up the minimum wage which is going to be a 30 hit on the hourly. Maria i see. In terms of the tips, there was a movement to share the tips to ensure that the people making the food were also getting the tips that they need, how do you distribute. The way that we distribute the waiters tips are divided among the hostess and the bus people in the bartender, the hostesses and the bartenders and the buses get 10 of the waiters tips. On average my waiters are making a 20 30dollar an hour wage. And the boxers are making 20 an hour. Maria i know the migrant situation in new york city is overwhelming for many how has it impacted your restaurant. First of all every day i would say two or three migrants or asylumseekers, common to the restaurant looking for work but i cannot hire them because they dont have any papers and i dont pay cash to any of the employees. Any addition to that is affecting the area in the evening hours because of the traffic is not the same as it used to be on columbus avenue and a lot of it has to do with the perception of crime. Particularly in the asylum location in my neighborhood is where the 15yearold kid was living in the gun that shot up times square. It is extremely really impacted the business. Maria how dangerous, good to see you, thank you for the update. Think you, have a great one okay yall we got ten orders coming in. Big orders starting a business is never easy, but starting it eight months pregnant. Thats a different story. I couldnt slow down. We were starting a business from the ground up. People were showing up left and right. And so did our Business Needs the chase ink card made it easy. When you go for Something Big like this, your kids see that. And they believe they can do the same. Earn unlimited 1. 5 cash back on every purchase with the chase ink business unlimited card. Make more of whats yours. Maria one thing you need to know ahead of next week we will be getting more sunshine starting this weekend, daylight savings begins sunday with days getting longer but it comes at a cost workers across the country will lose an hour of sleep when the clock springs forward, that has a big impact on Companies Bottom lines the time change expected if you will a decrease in Labor Productivity that is cost the economy around 434 million in the immediate days after i hope you make sure to have time to tune into mornings with maria every week day 6 9 00 a. M. Eastern on fox business i will see you on monday and sunday this weekend 10 00 a. M. Eastern live on the Fox News Channel for sunday morning futures, the son that have interviews exclusive was senator ron johnson congressman byron donalds, rnc cochair candidate lara trump and former white house Senior Advisor stephen miller, join us live on sunday on fox news. That will do it on fox thank you for joining us. Have a great rest of the weekend and i will see you next time. Variance roundtable sponsored by global