meeting, the first time since july, all of this as inflation roils the country. the president says he's on top of it, but growing concerns that its overwhelming his administration. jacqui heinrich at the white house with more. hi, jacqui. >> good afternoon, neil. the president is saying that he's on top of it. we're hearing though no new announcements in terms of what's being done to address it. just the same touting of the bill that passed and the bills that they want to pass as coming solutions. the president said he will appoint someone to implement the $1.2 trillion hard infrastructure plan that congress passed, which will be signed next week after it is signed at some point next week. he touted his own experience for special attention to making sure the money is implemented efficiently. >> we finished implementing the recovery act. he had less than .2% of waste or fraud. that's how i became known, the president started calling me sheriff joe. that's what i want to talk to my cabinet about today. the high obligation and responsibility we have to make sure this money is used wisely and well and for the stated purposes of the american people. >> the president's marks about the inflationary pressures and supply chains snarling the county says the new bill will lower inflation pressures with ease. but today the white house did not have new steps to bring down prices for gas. high energy costs being the biggest driver of the 31-year inflation high. the president said in her remarks today, pitching even more spending as a solution and talked up the private agreements between the ports and the unions that still have not brought inflation down. >> so it's a big issue. we take it seriously. it's a priority therefore. so we have addressed it in a number of ways. one of the approaches we have taken is to work with labor unions and to work with municipalities and opening back up and extending the hours of our ports. but there is also a point that is important to make on the build back better frame work. one, it is designed to make it less expensive for working people to live. it was specifically designed to bring down the costs of child care. >> so more of the same of what we have heard from this administration. in other news, the white house brushed off concerns that president biden's intended fda commissioner won't get confirmed by the senate after senator joe manchin came out in opposition of that nomination. the white house pointing to califf being confirmed once previously by a vote of 89-4 to this role indicating that republicaning might make up for manchin's vote against him. neil? >> neil: thanks, jacqui. have a wonderful weekend. chad pergram on what the weekend is shaping up to be for congress. they begin to return. the big signing of the infrastructure only measure monday. on this particular pressure, they're having a devil of a time, aren't they? >> economic reality could hinder democrats from passing the bill and liberals acknowledge that inflation is rising. >> yes, inflation is real back home. prices have gone up at the gas pump, the grocery store, beef costs more, milk costs more. we have to acknowledge the problem. >> democrats don't have a fix. republicans say democrats are touting the big bill as inflationary fears intensify at the holidays. >> hopefully this latest effort to hit the economy with one more big tax and spending bill will bog down here as we move into the christmas season. you're in a deep hole. quick digging. >> joe manchin is sounding the alarm about inflation. manchin controls the scope of the bill. >> seems to me the price is probably going to continue to go down on this bill. the fact is that a democratic majority that has 60 seats plus a vice president is going to be able to move as far as the most conservative democrat is willing to move. >> manchin and other democrats could modify the social spending bill and democrats are attempting to pass the bill against the backdrop of supply chain issues at the holidays. republicans say that is tone deaf. neil? >> neil: thanks, chad. let's take a look at the corner of wall and broad. all the major averages up on the day and down on the week. what is interesting to discuss, the markets hum along. what is driving it right now? could be again on the week we were down but advances on the day. again, on talk that maybe this package, the big one, the 1.85 trillion one doesn't get done this year and dicey for next year. we're coming to discover a lot of the tax hikes folks were expecting won't materialize or maybe watered down. scott, could some of the market's resilience be the growing expectation that this package won't be what they feared if it comes to pass at all? >> yeah, could be, neil. look at the infrastructure plan. it comes down in price. we're lucky that it's just a nose above a trillion because it started well above $2 trillion. biden wanted it higher than that. the market is starting to see through the clouds here that this stuff is not as onerous as feared. we still don't have it passed for. we have $30 trillion in national debt and we don't have a price tag to cover the cost of this. so with respect to how the biden administration sells it to americans but pays for it is where things come out in the wash when we see what the markets do in response. >> neil: very strange sort of an upside-down settlement in terms of cobbling this together, scott, where you heard that they want salt in this, that is the limitation on state and local taxes from $10,000 maybe as high as 80,000. the beneficiaries are the very rich that were supposed to get gouged by this in the first place. that's not setting well with democrats. is that a sign that this thing could look bumpy? >> yeah, i think if you look at the impact that the inflation situation has had on the lower and middle class americans, those are the folks that suffer big time in the administration. so with respect to how they're handling things, with respect to going out and spending over the holidays, filling up your car with gas, a lot of americans are seeing the pinch the inflationary craze is having on their wallets. >> are they growing frustrate with whatever gains they're seeing in wages and the administration has argued that that is the underlying strength in the economy and the supply and demand issue is a reflection of a strong economy, that's tough to sell people that are maybe earning more but paying out more? >> yes. president biden has said that this is a wage phenomenon. when you look at the increase, it's well-outpacing wage increases. if you're making more wages than you were in the prepandemic, you're seeing higher prices on what you're spending. so that gap is widening and something that you'll feel over the holidays. >> all right. we'll see what happens. scott, very good catching up with you. scott martin. i want to go to jack mcdonald, the cfo of the leadership council. they look at these issues, digest them and see how it could affect members that are very concerned about these rising prices. do you see anything right now, jack, out of the administration and this first cabinet meeting since back in july that the administration is getting in front of this? >> neil, i honestly don't. when i talk to my members -- i spoke to a financial executive that field confidence about what is coming up from the beltway. seems like initially the administration and others were dismissive of the problem. i think it was the president himself referred to as a first class problem. but it's a very real problem. you know, let's face it. we haven't had significant inflation in this country since the late 70s, early 80s. most of us don't know how to deal with this. >> neil: do you think it will get that bad? >> a lot of people i speak to think it will. it tends to be self perpetu perpetuating. suppliers have to raise prices so prices are passed on to customers. so it starts a cycle. a lot of people have said, you can get away with raising prices once a year over the last several years. now they're going to be raising it three, four, five times a year until it gets under control. >> neil: i figured that inflation ends when people stop paying the higher prices. there's indications right now that they're not stopping to pay. they're buying cheaper cuts of meet or looking for used car over new cars. use car prices are up more because of that. they're not at a breaking point where they say no mas and stop. a lot of companies reporting earnings. very few signals in their guidance that this is a crisis for them. what do you make of that? >> yeah, i tend to think that you're right. a lot of the people i talk to, there's pressure to grow, grow, grow. this isn't the type of thing that right now they're not pushing back on prices. i hate to say they're resigned to inflation. but they -- it's one more challenge to overcome in their quest for growing their business. so you're right. >> neil: you missed me being route. i apologize for that. thanks, jack. leadership council founder and president. that's the folks that have to deliver the goods and how they feel about where goods and prices are going. right now they're convinced they're still going to keep climbing. we're on top of that and also on top of the virtual meeting with the president of the united states and xi jinping in china. the difference is xi jinping will be in power for at least the next five years and growing talk that he has all the advantages. does he? when traders tell us how to make thinkorswim even better, we listen. ♪ ♪ because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade. hello, for the last few years, i've been a little obsessed with chasing the big idaho potato truck. but it's not like that's my only interest. i also love cooking with heart-healthy, idaho potatoes. always look for the grown in idaho seal. ♪ ♪ moving is endless, want some water? what? this is yours. thanks, dad. -there's more to it. find the perfect present at the one place that has all that you need. ♪ ♪ >> it means working with our partners and allies to make sure we have a united approach and coordinated approach as it relates to engagements with china. i wouldn't set the expectation. i should say this is intended to have, you know, major deliverables or outcomes. >> neil: all right. she's setting the stage for monday's virtual meeting between the president of the us and his counterpart in china, xi jinping. the backdrop where china is not easing up on the provocative action and language, particularly a ding on the electoral democracy. they said the democracy of western countries ruled by the capitol and they are a game of the rich. not a real democracy. here to weigh-in, christopher whiten. the former state department official. this is the latest example even at big events where you think it's china's interest to lay low, stop provoking tensions like the olympics in early 2022 or even now ahead of this summit to go aggressively dissing the united states on top of the provocative actions taken against taiwan, in the south china sea. what do you make of all of this? >> well, it's an interesting shift. china used to be the one that wanted the pagentry. they wanted things to go well when foreign leaders came to washington. they always wanted state visits in washington with the pomp and circumstance. they wanted to make sure there were no protesters within earshot of the chinese leader. that has changed a bit. there's something strange going on in china. it's unusual for xi jinping to not to want to go to summits because they can go and reap the upside of appearing to interact in the world and engaging in diplomacy and do nothing. whether it's covid, the real estate crisis or other financial troubles, there's some reason that he's not traveling. the other issue is the one. joe biden wants a climate deal out of china. china knows they're in a strong position. >> neil: i wonder with the weird things that china is doing, including mock warships down to the latest detail and not hiding that, knowing that we would discovered that and ask questions about it, you do have to wonder where they're going here. some of their actions, if you think about it, hurt their own country, going after their most successful financial firms and others set up operations abroad. they're really going after their own bread and butter issues in favor of the more militant efforts what do you make of it? >> right. two fundamental terms in china. how they deep -- deal with diplomacy. basically there's a rule that china should grow quietly, but you know, speak with a soft voice you'll recall in the 2000s. china also only abstained at the u.n. security council that has gone away completely to this much more aggressive foreign policy diplomacy demands that china be respected, saying that they're going to reunify with taiwan, signalling language that they might innovate one day. and then the left turn within the communist system. it's not like they were capitalists before. but putting economic growth and the attraction of capital in second place behind the control of the communist party. it seems that xi jinping saw these guys and sees them in the united states and doesn't want that. >> neil: we'll watch it closely. thanks, chris. great catching up with you, the former state department official. some other more details we're getting again on steve bannon, one of president trump's former top aides during his presidency indicted by a grand jury today on two counts of contempt of congress. you might recall that mr. bannon had refused to comply with subpoenas of information, testifying before the house select committee investigating the january 6 riot. the committee referred the matter to the u.s. attorney's office in washington and now the indictments that went down today. all of this with the backdrop of an appeals court pausing the release of trump documents to the same house probe and not a one of the people that the committee wants to talk to agreeing to talk to the committee itself. so this could snow ball in to something here. but steve bannon has indeed been indicted by a grand jury on this issue of refusing to testify and making essentially the committees work difficult by doing so. but not complying, that is a big no-no. we're on that and more after this. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? 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(vo) reflect on the past, celebrate the future. season's greetings from audi. here comes the interception. oh...sh -shawn? yes. thank you. you're welcome. have a great day. if it's “that will leave a mark season,” it's walgreens season. >> all right. we're getting word here that one of blue origins newest astronauts might have survived that october mission, historic mission at that alongside william shatner. he's been killed in a plane crash in new jersey. we got word of this that he was among the two victims of that plane crash i believe in southern new jersey yesterday at age 49. we'll keep you posted on any further developments. meantime, keeping you posted right now on what is expected to be an intense travel, air travel season period ahead of thanksgiving. we're hearing that you should get to the airport a few hours early. that's how busy it's going to be. susan li with what's going on here. >> and i never get there three hours beforehand. >> neil: can you imagine that? yeah. >> looks like we're back up from the prepandemic levels. adobe says we're up 3% from 2019 travel. aaa says it's within 5%. so aaa says 53.5 million americans will be traveling during thanksgiving. 90% of them still on the roads, which surprised me. gas prices are up $1. >> neil: it's a hassle factor. it's a big deal. >> here's the surprising part about air travel. i thought it would be more expressive. if you bring up the price costs here, it's down 27% from last year. when you get there, you have to stay there. hotels are up close to 40%. car rentals are not much as up. we talked about them going up 40% or so. so more cards on the roads. you're only paying 4% more. gas prices are overwhelming. up 60% from last year. >> i know we're listing the travel freeze on 33 countries. it's going to get busier and more dicey. united is bringing back liquor on planes. right? on >> yes. that's right. >> neil: and they're the only ones doing that. >> i'll tell you this, if you want to fly somewhere this year, try to fly on monday. that's the lightest and cheapest day to fly during thanksgiving week. if you're willing to pay more -- if you have neil cavuto money, you can afford to travel tuesday and wednesday, which is more expensive by heavier. the tsa lines, you can imagine, will be a lot longer. in terms of destination, doesn't surprise you that people want to go from cold places to warm places. >> neil: not at all. >> orlando, anaheim, hawaii is probably for me. internationally, what about cancun, montego bay and jamaica? >> beautiful. >> neil: thanks, susan. the allied pilots association captain is here with us. i know it's busy and major airlines have done anything and everything to get you and your pilots in the cockpits to deal with the demand. but some are not too keen on that. what is going on there? >> yeah, at american, we saw -- our management team stumbled in recovery. we told them it didn't look good in the spring. when weather hit, they were not able to recover. we had 135,000 passengers that were impacted because of the weather. it's because they couldn't find a way to connect the pilots in halloween weekend. the flight attendants and the airplane. they put out a proposal -- they're throwing money at the problem. it's a scheduling problem that management has gotten themselves in to. so it's leading us to a lot of questions like the premises. got a lot of money from the american taxpayer. i'm one of them. the pilots are ready to fly. you have to connect us to the airplane. >> neil: so what happens with the airlines offering 1 1/2 times bonus pay and all of these other incentives, more time off after working through the holidays? very few pilots appear to be biting. is it resentment now? what will it mean for travelers? >> not at all. they don't have the room in the schedule to do it. we have a overtime claused and being used today but it's difficult. if they don't let you move your schedule and if you don't have room on it. >> neil: so -- i'm sorry. so to be clear, the they maids it more flexible or gave your guys and gals more of an opportunity to fix their own schedule or make it a little bit more open, they would be open to this? >> you're getting right at the core of the problem, neil. there's scheduling practices. they have it systems from the 80s and make it up as you go along rules. when the weather hits, that's when it's exposed. on a a clear sunny day, that's when it's exposed. we have their attention. we need their action now. we want this holiday season -- we're already looking at the summer. american is going to hire 2,600 pilots. we have instructor pilots leaving the position to go back to the line to fly our passengers because it's less onerous work conditions and you make more. we have to get this fixed. lazy solutions like this, dumping money in, trying to plug a hole on the roof with cash is not the answer. you have to fix the roof. that's what we're trying to get done here. our passengers deserve that and you have to know that every pilot wants to get our passengers everywhere they want to be for the holiday season. we're going home, too. >> neil: have to watch it closely. sounds like it's going to be clouded and tense skies. thanks, captain. another development today we're closely watching. britney spears trying to finally end her conservatorship. she's close to that. just how close after this. kevin, where are you? 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>> yeah, neil. the hearing that could decide the future of britney spears and her life getting underway here in downtown los angeles. this could be a pivotal moment for her life. you think about it, for the last 13 plus years, she hasn't had much control over not only her finances but her personal life decisions. she's cleared one of the big hurdles and that is getting her father removed as the conservator in this agreement. that happened in sort of an odd way. public comments from her saying it was abusive and jamie spears filed some paperwork saying that he wanted to be off. the judge then decided to suspect jamie spears. so the judge must make a decision on two aspects of this conservatorship. will she have freedom to make choices as a person and will she have control over her finances or her money. attorneys not involved with this case suspect it could come down to her mental health. >> it's difficult to get a conservatorship terminated because it was granted in the first place based on mental health issues. so unless you can prove to the court that those mental health issues have abated or improved, you can't get the conservatorship terminated. >> now, spears has long said she doesn't want to go undergo in psychiatric evaluations or health tests. she just wants to be free. despite that, might be some time until we can tell what happens. no cameras or phones inside. we have to listen to our producer who will give us updates. this could drag on for quite some time. the lawyer representing britney spears wants to investigate jamie spears over conservatorship abuse. we'll see how that plays out. neil? >> neil: jeff paul, thank you. mark eiglarsh, what do you think? will she get this thing lifted off of her today? >> she should. the time is now. just think about it. this goes back to february 2008. john mccain was the emerging frontrunner for the republican party. brat pit and angelina jolie were still together. they welcomed twins in february of 2008. she doesn't have some type of dementia or a stroke or in a coma like you typically see when conservatorships are implemented. the time is now. legally and morally, it's enough. >> neil: you know, the issue that is she able to do all of this stuff on her own right now, aren't we past that? in other words, would she go from one conservatorship into another? >> no. the question is whether the judge will let her out. the only reason why i can see legally she wouldn't, the judges say we have to have the psychological testing that you resisted. we need that. >> neil: to what end? what would that mean? if you're saying this conservatorship ends, you don't need someone else baby sitting you, do you? >> no, what i'm saying is, i think the judge might need sufficient evidence to say at one point we found that you weren't capable of making your own decisions. now we need doctors to tell us that you can. i think the fact that brittany was able to speak to the judge for 25 minutes or so in court on a previous occasion makes her way ahead of every other person placed under this legal hold that comes before the court. it's just unusual. people usually can't articulate their needs under this type of conservatorship. >> neil: thanks, mark. we'll watch this closely. when we get any news, we will let you know. bottom line, she can afford these fights. the big question on inflation, can you? hello, for the last few years, i've been a little obsessed with chasing the big idaho potato truck. but it's not like that's my only interest. i also love cooking with heart-healthy, idaho potatoes. always look for the grown in idaho seal. ♪ ♪ this is going to be fun. we're gonna string some lights. i'm going to my room. ♪ ♪ tada! ♪ ♪ (naj) at fisher investments, our clients know we have their backs. 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(naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. i am robert strickler. i've been involved in communications in the media for 45 years. i've been taking prevagen on a regular basis for at least eight years. for me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. and i enthusiastically recommend prevagen. it has helped me an awful lot. prevagen. healthier brain. better life. >> neil: all right. we've been telling you about the hit of inflation across the country. some parts are getting clobbered more than others. kelly o'grady from los angeles. kelly? >> costs are going up much faster in middle america. in many cases, the people that can least afford it are being hit the hardest. we've been focused on the 6.2% inflation figure but there's someplace as above 7%. the coastal states are seeing rates below the national average. this reality manifests more starkly when it comes to energy. midwesterners can expect higher heating bills. gas prices jumped but nowhere near as much as the midwest. minneapolis at 86%. that inequality is even being felt in putting food on the table. look at detroit. we've got 7.4% there. we've been discussing how much more expensive holiday dinners are going to be than last year. middle america is feeling that increase more. if you put this disparity in context of wage increases, it gets worse. the national average has increased 4.9%. california and missouri, a troubling trend. so the areas being hit hardest by inflation are also seeing poor wage growth. while some are claiming inflation, experts say this is the beginning. as middle america, states that voted republican, many are asking why the administration is not taking note. neil? >> neil: i have a feeling they are right now and scrambling. thanks, kelly. just going out here, a few more details about the plane crash that has taken the life of the 49-year-old astronaut that was aboard the blue origin flight with william shatner. apparently this was in a cessna 172, a four-seat airplane that went down in hampton township in new jersey. what i know is that glen was a man that was so excited to be a paying customer even though he never outlined how much he paid for the opportunity to hitch a ride on the blue origin flight, even though it would be ten minutes, telling me the significance of that mission. take a look. >> neil: how soon do you think that average folks will be able to afford a trip like this? get an opportunity like this? >> i think equity and access is something that we have to think about in everything. i think about it in medicine, healthcare every day and my profession. i'm not going to try to predict when it's going to happen. the point is, this opportunity for us to travel to space is about accelerating how quickly we can get access to space for everybody and how we can democratize the benefits of space and space technology for as many people on earth as we can. >> neil: he was excited for that moment. friends and family knew him. that was the highlight of his life. little did we know that it would end four weeks later. glenn devries dead at 49. thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab. >> neil: this week we honor our veterans. one stood out. lieutenant colonel william swenson that was a medal of honor recipient for a daring rescue under enemy fire of multiple soldiers and colleagues who were in bad shape. he is seen carrying several of them out under enemy fire. but what was most notable about this medal of honor recipient, there's videotape of that. he was honored by president barack obama. he was kind enough to join us here. >> you referenced that video. one of the most remarkable things about that, gave the american people an opportunity to see something that i lost in the fog of the battle. an opportunity to see service members coming together and performing as a team and showing the love and the bond that we have for our fellow service members. >> neil: you can't help but cry looking at it. it's not as tough a guy as you are, colonel. i think of the bravery of that moment and your entire career. those that you worked with, many of whom have died. the sacrifice. i always think of the selflessness of that and this polarizing time. you know, each side goes at it. that harkens back to our better angels. do you worry about that? you worry about what you see in every day life now and what our politics has been reduced to, no matter if you're the left on the right and we forget that at our core we're human beings? >> we talk about divisiveness and politics. that's what politics is. an opportunity for us in a democracy to have a dialogue. but the military isn't a democracy. it's a bunch of americans from across the country and from other countries as immigrants that have come together for one sole goal. to defend our institution, to defend this democracy and allow for the divisiveness to play out in the political atmosphere. it's one team, one fight. >> neil: in your particular incident, you were angry about the lack of cover in this attack that prompted this incredible rescue. and authorities later agreed with you. that you were right. you spoke out, but you spoke out for the right reasons. were you afraid that it would boomerang on you? >> in the u.s. military, we have a codified culture that is part of professionalism of what makes us a great fighting course. we get together after our actions and discuss what went wrong, what went wrong and how to better correct ourselves to fight better. on that day, things went wrong. we lost three service corps members, ten afghans, a lot to discuss that day. what was important that came out of that was is we did listen. our military improved and ensured that that didn't happen again. >> neil: the big differences were out of afghanistan entirely right now. how do you feel about that? >> the administration decided that it was time for us to transition our efforts as a military to other threats. leaving afghanistan has been bittersweet for all of us. we fought alongside each other, developed friends with the afghan people and one thing we need to remember. we may not have boots on the ground but we left behind something that is more important. we left behind an idea. we showed the afghan people that we're willing to fight for them to have a better life. so it's their time now. it's their opportunity. they need to do this for themselves. they saw there was a better way. >> neil: but they failed in so far as the taliban won. >> ultimately they have the opportunity to make their country what they want it to be. >> neil: do you think they will? >> knowing the afghan people, they're ultimately pragmatists. they have things that are not working out well for them in terms of the economy, politics. they're going to have to come together and decide who they want to be as a nation, as a people and we were there to help them. obviously we're no longer there. but this is their time, this is their opportunity. they know that they have a better way. >> neil: colonel for you and your colleagues and those that lost their lives there including those that you witnessed and knew first hand, any frustration over that and what is now the reality? >> we're a professional military fighting force. we understand what we do day to day to provide security for our country doesn't find itself on a singular battlefield. we fight for an ideal. that ideal is something that cannot be found in afghanistan, in iraq, in syria. it's found everywhere that we fight. it's because we fight for what we believe in. what the final conclusion of the battles are don't always play out immediately. i know everyone i served with understand that they served honorably, fought hard and fought for the right reasons. walking off the battlefields, we know we can hold our head high. >> neil: they fought for the right reasons. that is the one thing that stuck with me in this interview with colonel swenson. his view and it's a widely held view that afghanistan wasn't a waste of time or a wasted effort. the cause was good. the people that conducted it were brave and decent. they did what they had to do through democratic and republican presidents alike. because they had a greater calling and it got me thinking, sometimes it happens on this show and elsewhere, we're so caught up in the polarization and cursing at one another and the extremism of espousing any old view that pops into your mind. then you look at people like that, put their lives on the line, defending that right to say anything you want, to do anything you feel like you can and will because we live in that count of country and we live in that count of country because of people like that, veterans, some that gave the ultimate sacrifice, some who are prepared to make that again and again and again. not only a medal, but maybe our thanks. good night. >> jesse: hello. i'm jesse waters, dagen mcdowell, greg gutfeld, martha maccallum. it's 5:00 in new york city and this is "the five." major developments in the kyle rittenhouse murder trial. the prosecution hopes to safe their crumbling case. asking the judge to allow for lesser charges. the judge is considering the request before closing arguments monday.