From the fox studios in new york city, this is Maria Bartiromo ifs wall street. . Maria and happy weekend to bidg hes rescuing the middle class with his new budget and tax plan. I see a future ahead. Maria 64 of taxes are too high, up 9 from 2019. And bidens new tax plan could actually cost the economy nearly 800,000 jobs and shave more than 2 off of economic output. 5. 5 trillion in new taxes propose. Can the u. S. Afford another 4 years of bidenomics . If joining me now is the Bahnsen Group manging director David Bahnsen and former council of economic advisers chairman kevin hassett. Gentlemen, thank you so much tae before maria theres also a possibility that there will be no rate cuts at all. Your reaction. Yeah. Neil likes to get that attention. I will say this, you started off the year with the market believing there were going to be six rate cuts this year, its down to three. We started the year believing it would start in march, the market now believes itll start in june and july, and yet markets are is still up anywhere from 610 president on the year. The fed 610 . The fed is not the key driver in the market case revisions come right after the numbers a month later and we realize, oh, it wasnt as strong as it looked. Kevin can, youve been working on this jobs picture in terms of whos really getting hired. Tell us what youve learned. If you get the breakdown of whether one with was u. S. Born or foreign of born whos in the jobs report, and over the last year that table reports that there were 615,000 jobs created only, and of those 615,000, 1. 3 million were people who almost surely are illegal aliens. Theyre aliens, fear sure. And, in fact for sure. And, in fact, people who were u. S. Resident, about 650,000 of them have lost their jobs this year. Theres an employment boom thats coming from these people who are streaming across the border. And you wonder why in the surveys people are saying, wait, this joe biden economy is not working for me. Its because probably the people being surveyed are the people who didnt rush across the border last year, and they see whats happening to their towns and to their friends who are losing their jobs to illegals. Maria thats incredible. So youre saying that all this job creation that were talking about is largely going to illegals . Its right there in the data, and its been happening really over the last year. You can keep looking at it. Its tricky to look at the numbers because theyre not seasonally adjusted, but if you look at yearoveryear number, you dont have to worry about that. Right now the yearoveryear number is about 650,000 american citizens lost their jobs while 1. 3 million probably illegal aliens gained jobs. Maria thats incredible. David, no matter how you look at it, the headline looks good, 303,000 jobs created in the month of march. Your thoughts on what you saw in this jobs report this month. Yeah, i think the jobs report was fantastic. I think the data point that a continues to not lie is weekly jobless claims. Theres all these different theories about how healthy the jobs number is, but if we really had a problem of people not finding jobs, people would be filing for unemployment and theyre not. Whether theyre citizens or not, i think the issue with our economy, for me, is not the jobs side is, its that biden wants the tax more, wants to spend more, that weve added so much to deficits. Its four president s in a row now that weve seen this National Debt explode. That a takes away from future Economic Growth, and we cant treat it by taxing people more. So i as a supplysider just simply believe we need to let the economy work on its own. And everything theyre doing to take away future Economic Growth is unforgivable. Maria all right. We will leave it stevens dribbles up the court. He stops . For the championship [crowds cheering] nice shot, marcus sweet, turn simulation off. Tssk, tssk, not so fast. What, why . Did you forget marcus . Forget what . Your chem exam . Uggh . Flashcard time the atomic weight of boron. The future isnt scary, not investing in it is. 100 innovative companies, one etf. Before investing, carefully read and consider Fund Investment objectives, risks, charges expenses and more prospectus at invesco. Com. 3, 4 hey are you ready for me are you ready are you ready maria welcome back. Well, a volatile week for stocks this week that included the worst day for the dow industrials in more than a year. This after a hotter than expected jobs report and a slew of Federal Reserve officials signaling they would not be rushing into rate cuts so soon as we mentioned earlier. Neel kashkari saying there may be no rate cuts this year at all. Joining me right now to discuss it is nice Portfolio Manager niles Portfolio Manager dan niles. Its great to see you, thank you so much for being here. What is your take on the Federal Reserve . We saw some good numbers on jobs, and a lot of people are questioning whether or not the fed has so much room to cut rates, and the market is expecting three rate cuts this year. Yeah. I mean, i think its a coin flip on whether we get one or two rate cuts this year, especially after this jobs report and where energys sitting. For miss us, were taking this day by day because so much things on where oil prices are because oil prices feed into with everything from the milk thats shipped to your Grocery Store to plastics and everything else. Watching oil, which is up 20 roughly year to date, thats the biggest linchpin of what the fed decides to do. As you know, a lot of thats geomid call geopolitical, so i think you have to take this day by day. Maria a great point. In fact, when we were teasing you were coming up, i said this is the one thing that dan niles thinks is most important, and that is oil. So what do you want to do with oil close to 90 a barrel here . Thats going to undermine the feds efforts to get inflation down, and it could be a place to invest, right . Well, i mean, i think that theres this old saying the cure for High Oil Prices is High Oil Prices because it just destroys demand. And so i think you need to be careful with this because oil being this high is a real problem for the fed, and then the other part thats tied to that is the fact that the 10year treasury started the year at 3. 9 . Theyre now about a, from china, especially from what huawei coming back. Teslas got competition from china as well as slowing electric vehicle growth, dont like that. And then google has got over 90 Search Market share, and what have we been talking about for the last 15 months . Its been a. I. And chatgpt. So that 90 plus market shares probably going to drop. So those are the three names we dont like. The ones we do like are benefiting from a. I. , so nvidia, amazon web services, facebook which is obviously doing a great job with recommending videos as well as monetizing their ads. Microsoft, they have the big with investment in chatgpt. Thats where were sort of focused, in those four names. Maria well, ive got to say hearing dan niles say i dont like apple, to me, is a big deal. [laughter] well, maria were going to get earnings in about a week behalf for the first quarter, dan. What kind of an earnings season are you expecting . I think its going to be a great one if youre a stock picker, its going to to be an awful one if youre just investing based on theories of where you think the world is a year from now. Was last year because last year every stock in tech maybe , i think earnings are going to really come to the forefront of this. And so youve got to get the right names trying to find where with impinge youve got a company thats in the rfid space, its involved in tagging all the items that get shipped to supply trillions with city. New yorks mayor personalized Financial Advice from ameriprise can do more than help you reach your goals. I can make this work. It can help you reach them with confidence. No wonder more than 9 out of 10 of our clients are likely to recommend us. Ameriprise financial. Advice worth talking about. [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever. It changes how you eat, how you feel, and how you enjoy life. It changes your smile and how others smile at you. Clearchoice Network Doctors have changed over 100,000 lives with dental implants, and they can change yours, too. Because a clearchoice day changes every day. Schedule a free consultation. vo explore the world the viking way from the quiet comfort of elegant small ships with no children and no casinos. We actually have reinvented ocean voyages, designing allinclusive experiences for the thinking person. Viking voted worlds best by both travel leisure and conde nast traveler. Learn more at viking. Com. 750,000 to use the verrazano move to basically suspend that payment, but it was quite revealing, frankly, that the mta is so thirsty for money that they would do anything. And the marathon of money year. Its a mismanaged situation, and the people who are going to get nailed are the hard working people who have no choice but to drive to work. And if thats why were keeping the pressure if up, and if thats one of the main reasons we actually sued the mta to top their congestion pricing proposal. Maria can you assess the situation on the ground in Staten Island with this influx of, as the Administration Calls newcomers . You know, the migrant crisis is one of the worst things ive seen in my lifetime. First of all, its a fraud on the American People and the people of Staten Island. Almost two years ago when this thing started we said the policy was going to be unsustainable. There were those who welcomed the migrants in midtown with champagne grasses, and we said this was going to basically be unfair to taxpayers not to mention lawabiding citizens and those who want to come to this country legally. And sure enough in less than two years, look, were up to 12 billion price tag, the city of new york. And the migrants the migrants, about 150,000 per migrant, per year. Thats twice the Median Household Income if of the united states. And meanwhile, we still have folks in washington that say theres no problem at the border. Well, we are paying the price. Were paying the pice heavily are. It continues to be unsustainable. And until there are policy differences that are made at the border, unfortunately law abiding, taxpaying citizens will have to absorb this. And its just not fair or right to them. Maria yeah. Well, youre not really hearing all of that from mayor adams. New york city mayor with eric adams a has been touting how well he has managed this migrant crisis. He even a went as far as to offer Texas Governor greg abbott a free stay at a migrant shelter this week. I spoke with Governor Abbott on mornings with maria and got reaction. Watch. Really is outrageous when you consider the backdrop of the city that the mayor is presiding over. Anytime the mayor opens his mouth, he needs to be talking about ways to make his Community Safer for his fellow new yorkers as opposed to these other gimmicks. Maria so whats the cost of all of this, vito . Give us the true sense of impact on the people of statening island and brooklyn and the other boroughs now that youve got so many new people who need money, health care, places to live. Well, the cost is significant. And if its not going away. And i dont, i think what the governor of texas did was absolutely fair and right for the people of his state. Walk through midtown on any given day. Migrants using mopeds, stealing. Gang members on randalls island. You hear terrible stories. And meanwhile, taxpayers cant get their services that they have paid for, and its going to get worse before it gets better. And its just not right. So the cost is unsustainable, its unfair and its up just. Unjust. Maria yeah. Theres an economic part of this, and theres also a National Security part of this. Of people are worried for their own personal safety, and the last time i checked, citizens had the right to live in a safe place. Vito, were going to continue to watch your work. Thank you, sir. Thank you, maria. Thank you so much. Maria okay. Vito joining us today in Staten Island. Ive psst psst ahhh with flonase, allergies dont have to be scary. Spray Flonase Sensimist daily for nondrowsy long lasting relief in a scent free, gentle mist. Flonase all good. Also, try our allergy headache and nighttime pills. Morikawa on 18. He is really boxed in here. Not a good spot. Off the comcast business van. Into the vending area. Oh, not the fries wheres the ball . Anybody see it . Oh wait, there it is back into play and. Aw no, its in the water. Wait a minute. Alligator. Are you kidding me . You got to be kidding me. Rolling towards the cup, and its in the hole what an impossible shot brought to you by comcast business. Maria welcome back. One thing you need to know ahead of next week, a total solar are eclipse is coming on monday, and many have their hearts set on being in the best place to view it. Millions in the u. S. Are expected to travel this weekend to the, quote, path of totality, a stretch the in the country where the moon will block 100 of the sun during the event. States on or near the path could rake in 1. 5 billion from eclipse tourism with texas topping the list at 423 million. Well be following it all monday on mornings with maria, 69 a. M. Weekdays on fox business, and ill see you on sunday on Fox News Channel at 10 a. M. Eastern live for sunday morning futures. Ive got exclusive interviews with governor ron desantis, senator j. D. Vance, rnc cochair lara trump and rnc chairman michael watley. Thatll do it for us here on fox business. Have a great rest of the weekend. Thanks so much for being here, and ill see you again next time