>> from the fox studio in new york city, this is "maria

bartiromo wall street". >> welcome to the program that analyzes the week that was in helps position you for the weekend. i am cheryl casone and for maria bartiromo, take a look at the new exclusive video obtained by fox from our southern border that shows a swarm of migraines pouring through a breach in the wall where the steel had been cut by cartel smugglers adding to the record search of a mate and treat illegal migrants in the country. alejandro mayorkas is blaming everyone and everything but the administration for the crisis. >> this is something that is not specific to the united states southern border. this is something that we see throughout the hemisphere and throughout the world. we have increased and authoritarian regime. we have more extreme weather events that are driving people from their homes, we have poverty in america is proven to be prosperous with more than 8 million jobs that need to be

filled. cheryl: the gop is pushing impeachment hearings for mayorkas next week when the house and the senate reconvene, this is more than five dozen congressional republicans traveled down to the border this week demanding more from a migrant crackdown from the white house. >> is an unmitigated disaster it took less than six months for the biden administration to dismantle 100 years of progress that the u.s. border patrol had achieved. >> no more money for this bureaucracy of his government until you have brought this border under control, shut the border down or shut the government down. we are all committed to that. >> it's not us shutting down the government it's good to be joe biden in the number one priority for republicans is to control the southern border and secure it. >> is republicans jobs to put up or shut up. cheryl: joining me south carolina congressman russell fry. next week are you willing to shut down the government if

border negotiations go south. some of your colleagues are willing to do that, are you? >> i think it certainly on the table. every month has gotten worse, last month 300,000 people had crossed her southern border, that is a record high every month gets worse 300 americans die every single day and the secretary may complain that we have prosperity and that's why people come here. these numbers were not here for president obama and they were not here for president trump but the secretary is not doing his job. any which way that we can hold him accountable to do their job, we should. cheryl: the? is obviously what is the administration willing to do and listening to alejandro mayorkas, not much, they are blaming republicans they say it's republicans fault that they're not getting the funding that they need. how does this play into the beginning of the impeachment proceedings with mayorkas.

>> i think it goes to what he has done if you asked the shares on the border and ranchers and farmers and families, every single person to a t says the border has never been more unsecure and four years ago it was insecure instead had ever been. this lays directly at the feet of secretary mayorkas and if you look at a congressional hearing that he appears he dodges the questions and he does not answer any likes to play the other guy. at the end of the day the stats do not backup what he saying this is his feet in his direction because of this a administration they have every single tool right now to secure the border, they just won't. cheryl: even though you have on the democratic side you have mayors whether it is new york or chicago they are saying they're being crushed, fiscally crushed by the migrants arriving in their cities particularly in new york city, doesn't that put some political pressure on the administration to take action or do you think the democratic

mayors are getting gaslight about a democratic president? >> i think up to this point, they have been gaslight it, the democrats are relatively monolithic and they never bring creeks with each other. here on this one issue you see governors and mayors come forward and talk about this. i think the pressure is building and the american people are behind us and this is not a red or blue issue, this is an american issue that we must face together and the only time that it becomes partisan when you cross the pandemic into washington, d.c. cheryl: there are laws in place, i think the problem with the border those laws are not being followed. is that another tactic by house republicans proposals that would indeed change the law and come up with a solution versus withholding the funding period is not something that can be considered? >> it can be considered. house republicans passed hr2 back in the spring and it sits

on chuck schumer's desk collecting dust that will secure the border and what will help if you have an administration that enforce the laws on the books and quite frankly they're not doing it right now, you've seen the numbers speak for themselves when you dismantle the immigration system in such a way it encourages people to come to our country and that's exactly what is happening. cheryl: i want to move on to another issue, this is china. the spy balloons from china are back. this time they have been spotted flying over taiwan it's been almost a year that they shut down the chinese balloon across the country we still don't have answers why it was here, what it was doing, congressman you entered a bill that demands information from the secretary of defense on the national security threats from this, can you tell us more about what you want to see happen here. you forget to respond

appropriately to combative china and what were seen we need to understand what actually happened to our country when they traipsed across the country and shut down over my hometown. the chinese balloon assessment act would do just that would force the secretary of defense to bring us in so we can make meaningful adjustments to our foreign policy and we can respond appropriately. you have seen for balloons over taiwan this week they are about to have their own elections and so china we know they have this program and they've had it for a while and what are they surveilling and why and how can they protect herself against it. cheryl: are you worried into thousand 24 about china and encouragement on taiwan? >> i visited taiwan into talk to them, you have seen a very big change in the way that china is dealing with taiwan it is certainly a big concern and i

think that's why not only was spy balloons but quite frankly everything we need to have a battle under better handle on how to respond appropriately to an emerging threat. cheryl: the final word to you, that is the elections that is what matters here is those elections in taiwan. >> i think so, you have seen them interfere with the election and you talk to the people on the ground who have been holding elections for a while, china has always tried to interfere in their continuing to do it today. cheryl: congressman russell fry, think of for joining us, we appreciate it. cheryl: a better than expected jobs report. it's not all good news, what it means for your money in the market, ron desantis unveiling his tax plan, what he says is the ideal system, steve forbes and andy puzder going to be here with their reaction next.

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cheryl: here is a look at markets for the first week of trading and 2024, this after that we got a better than expected jobs report adding 260,000 jobs versus estimate of 170,000 in the unemployment rate did not take higher but it stayed put a 3.7%. october, november there were revisions lower by 71000, joining the forbes media chairman and editor in chief steve forbes, see ke restaurant and the capitalist come back andy puzder, great to have you both here. steve first to you talk about your reaction to the jobs report was much stronger than expected and this was something that president biden is going to take a victory lap on. >> when you look at it becomes rather weird, the number of jobs were declined in the household survey which is very good on

small businesses it went down 700,000, the number of people in the workforce went down by 700,000. you have to ask when you look at the numbers month to month do they have a problem with seasonal adjustments or something else because saying we created 200 plus thousand jobs in the decline of 700,000 in the actual household survey, something does not give and it's been pointed out by many analysts at this jobs report shows disproportionately number of government jobs, healthcare job that comes from the government. it's not very strong with me going the innards and a lot of weird working there. cheryl: we saw this play out all year and that's why we get the revisions over and over and it's frustrating for those that follow and track the market, i want to pick up on something that steve is saying is the jobs that are adding healthcare government, social services, the other side of this is the retail jobs and were adding restaurant jobs, leisure and hospitality that those are not higher-paying

jobs and the economy needs those jobs to be better quality jobs. >> were not seen the kind of growth in the restaurant and leisure and hospitality that we saw last year. this year we're seeing growth at half of what it was last year, we added 39000 jobs a month in 2023, we added 88000 jobs in 2022. a lot of that has to do with the increase of minimum wage and a number of the states you see wages go up but you see the number of jobs that are out there going down. to add to what steve said, if you look at the jolt report which was a few weeks ago you see hiring is way down and declined significantly and job openings are down significantly yet we have a one report the establishment report that comes out showing that we added 216,000 jobs for the month and we actually added 485,000 jobs if you take out the

overestimates from the prior months. there's a lot of complected things going on on the job report. you have to boil it down to the employment stayed the same, wages went up from 4% to 4.1% which would indicate that the economy is probably doing better than people think it is going to be difficult for the fed to reduce interest rates as rapidly as people predicted. we saw that initial reaction when the report crossed at the same time or in an election year end there's a lot to discuss their. your republican presidential candidate ron desantis calling for a change in taxes, watch this. >> i want to eliminate the irs and i would like a flat one single lot tax i would only do it if it was lower taxes for everybody but that is the ideal tax system. cheryl: steve, you ran for president and you've been a big fan of the flat tax why should emerging voter support this.

>> is a moral issue we spent 6 billion hours fully nontax forms, 2 - $300 billion complying with the corrupt monstrosity that nobody understands. if you go back 20 years think about the tens of billions of hours and hundreds of billions of dollars that could of been going for new products, new services, new cures for disease and the like is a huge moral issue as well, get the resources and brainpower in productive things, i'm delighted governor desantis came out for and hope it makes it a signature issue leading with it then he might get the nomination. >> wilsey of new hampshire the game changes there. also listen let's talk about the national debt. the u.s. national debt hit a new record at $34 trillion. the white house says do not look at them. >> republican tax cuts are responsible for 90%, 90% of the increase in the debt, 90%, that is something that republicans are responsible for. cheryl: what about the spending that we saw when president biden first took office.

that seems to be the real? >> we have revenue, federal revenue is at historic highs we have $6 trillion in spending by divided administration that is driven up the deficit. if you have a business or a hustle in your revenue or your income is increasing but your expenses are increasing faster than your revenue you will have a big deficit. this year the biden administration was predicting to be 1.7 trillion and it ended up being 2 trillion. it should not be a surprise were spending way too much we don't have a revenue problem we have a spending problem. cheryl: we really do, last word. >> the government is taking more and more resources from the american people and that is not right. i think that will be the big issue who do you trust resources to the people that create them, the broken people or bureaucrats in washington.

i think it's a slamdunk. it republicans that help you run with it you will win. cheryl: here we go with that, steve forbes, andy puzder, thank you so much for joining me. i really appreciate it. cheryl: here's a question, could 2024 be the year to finally buy a home or are americans feeling overly optimistic about falling rates. realtor.com chief economist danielle hale joins us next. i love your dress. oh thanks! i splurged a little because liberty mutual customized my car insurance and i saved hundreds. that's great. i know, right? i've been telling everyone. baby: liberty. did you hear that? ty just said her first word. can you say “mama”? baby: liberty. can you say “auntie”? baby: liberty. how many people did you tell? only pay for what you need. jingle: ♪ liberty. liberty. liberty. ♪ baby: ♪ liberty. ♪

cheryl: younger americans are farther away from owning a home, 20% of men and 12% of women under the age of 35 are living with mom and dad to save for a down payment. average homeownership in the u.s. has risen to 66% and for those under 35, the rate is down to 38% and everyone is facing

higher prices, jumping up in major u.s. cities for the ninth straight month at an all-time high. mortgage rates have finally fallen below 7% with a 30 year fixed at 6.6%, this change things, joining me to tell us warehousing goes from here realtor.com chief economist danielle hale, thank you so much for being here. >> thank you for having me, where are we in the housing market. 2023 was about the supply issues you had the folks that did not want to put their home on the market because they were not going to get the price that they wanted and then you had the younger buyers that could not afford the higher mortgage rate that was being asked, where are we now? >> some of those themes from 2023 will continue into 2024. the reason we don't have enough homes on the market is in part because high rates are causing homeowners to sit on the sideline and keep the rate that they have right now which is

much lower than what they can get on the market but another reason we haven't had that construction over the last decade we see more households formed than homes that have been built that's what of the reasons it's hard to find a home to buy and why a young adults are living with their parents instead of striking out on their own. it's really challenging time in the housing market, some of that challenge is going to continue into two 2024 but there's some reasons optimism work injury to down 6.6% that will make it easier for households to get into the market and help alleviate some for homeowners and receiving construction remain at the higher end and recently that will help fill in the gap but it will not be a quick process that was a gap in the making so it will take some time to close it and improve the level of availability of housing in the u.s. cheryl: the gap is only going to shrink if those putting their

homes on the market get more realistic about the price. one thing that we have his pent-up demand from 2023, yet a market that was basically stuck and now americans many that are selling or buying seem to be losing patience. i would think the spring selling season is going to reflect that. especially in markets where we seen substantial price drop like phoenix, las vegas, even parts of florida. >> even southern california as well when we look at our forecast for 2024 we are expecting the top markets of real estate activity are going to be in a portable park pocket of the northeast in toledo and rochester and also in the southern california region san diego, los angeles, riverside, oxnard areas where home sales and prices were hit hard in 2022 and 2023 as mortgage rates rose we will see a bounce back there.

at the same time affordability continues to be an important component that people are looking for in the housing market so that will keep the affordable areas at the top of our list. cheryl: do you think that we could get to the month of june mortgage rates somewhere between four and 5%. i realize that is optimistic but there has been some experts that predicted that is where were going to go. >> that is not her expectation. i think we will still see the fed funds rate above 5% as we move to the middle of the year so i think it's hard to see mortgage rates that quickly. they have come down faster than we originally expected so far so it is possible but it's not my base case expectation, my base case that it will take longer for mortgage rates to come down and a lot will depend on the data you just got december jobs data and it showed more jobs

than expected, the unemployment rate remains low at 3.7% the strong job numbers will put pressure on rates to stay higher for longer. so we may see a get back and mortgage rates ticked up a little bit before the eventually resumed their downward time for the rest of 2024. cheryl: thank you so much for the perspective, we appreciate it, thank you for joining me. coming up what important thing that you need to know ahead of next week. ♪ ♪

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♪ ♪. cheryl: welcome back, one thing you need to know ahead of next week the tech event of the year kicks off on tuesday, ces is coming to las vegas. the company is set to unveil the new gadgets. innovations are expected everywhere from your living room to the sky, robot vacuum cleaners, smart homes in flying cars are expected to be announced from the world's biggest names in technology. the show will future more than 4000 exhibitors and 130,000 people expected to attend. we will be following all of the big headlines right here on fox business. that will do it for us, thank you for watching, have a great weekend ♪ ♪ >> "barron's roundtable" sponsored by global