tv Cavuto Coast to Coast FOX Business January 30, 2024 12:00pm-1:00pm EST
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stuart: before the break we asked the question sunflower is the official flower of which state? kansas, florida, arkansas, new mexico. let's begin with mr. murphy. >> i'm going to go with number 4, new mexico. ashley: all right. lahren? lauren: arkansas, number 3. ashley: i don't know the answer. i immediately go to one answer. not always right but i went with kansas. let's see what the answer is. my goodness. get lucky. that was designated the state's flower in 1903. coast-to-coast is coming up next. thank you. we will be back tomorrow.
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david: that happening now the united states is weighing options on how to respond to to the horrifying iran backed attack that took the lives of three us service members. will the biden administration hit iran in the wallet or is a military hit on the horizon? we will bring you the latest from dc and the pentagon, perspective from a top retired general. the chaos on the border spilled into dc, the border deal congress has been working on for months appears to be blowing up and right now house panel taking the next step to a full impeachment vote of alejandro mayorkas. we will get the inside scoop from andy harris coming up. a proposed new york rule on tipping could be the tip of the iceberg. restaurants are outraged saying it hurts waiters and will send your dinner bill skyrocketing. you are watching coast-to-coast.
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i want to take you to wall street, markets unfazed by tensions around the world. the s&p hit an all-time high today. if it ends up, this way would be the seventh record close of 2,024. in addition to the news on the earnings front we just got news that ups is laying off 12,000 workers saying package volume slipped. the company made no mention of financial impact of negotiations in the teamsters union. let's bring in mark tepper who is right here. question is whether this is one off with one company or something deeper, canary in the coal mine. >> obviously we know that
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consumer preferences when it comes to spending has shifted from goods to services in the last 12 to 6 months. i am not fazed by the fact that ups is seeing softer demand but the issue i am having with this is number one, they mentioned higher labor costs which has to do with their union negotiations. they are mandating these management positions come back to the office 5 days a week. that leads me to believe there are some morale issues or culture issues that are concerning but let's not forget. ashley: you could compare it with fedex. fedex doesn't have the union problem. >> going to august 23rd of last year, when the teamsters deal is finalized, president biden giving himself an alibi but we look at the consequences of
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that and we have this white-collar recession taking effect, where middle managers, middle management position, higher labor, average ups driver will make $170,000 in total benefits. ashley: david: microsoft and alphabet, let's focus on that. microsoft is huge, the market is over 3 trillion, apple shy of 3 trillion. is it rich? >> it's not. looking at microsoft, microsoft is expected to grow earnings, 17%, 18%. apple is expected to go up 9%. when you look at price per growth, microsoft is valued and it is one of the ai pioneers.
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their investment into open ai to gain access to chat gpt, big deal for microsoft, i expect azure, the more people you have utilizing ai or cloud space. david: they have gemini and a perfect way of scrunching the information whether it is video information, audio text into their advertising platform, perfect for advertising. >> hopefully that will help alphabet to continue to maybe start to catch up. there's a point in time when all these big tech companies were valued around the same level, microsoft and apple broke through. david: we had the fed meeting this week, is powell going to
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sit on things and see if the increases they have or lowering of the rate of inflation, is it more aggressive, pushing for another turn and like the juicy accommodation. >> $17 trillion and $34 trillion of debt and that the reason to be more dovish but job openings have increased for three straight months. hard to believe they will aggressively pivot and become superdovish in the bond market but i doubt that happens. david: a pleasure to see you in person. the white house weighing options after in iran backed attack killed three us soldiers, lawmakers pushing the administration for pushing for bigger response while others don't think the president should take any action without getting approval from congress. aishah hasnie has the latest on capitol hill.
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>> you hit the nail on the head. immense frustration on capitol hill. will this lead to a wider conflict, nobody wants to see that on the hill, there's a lot of frustration, republicans in general want to see the president strike back harder and deter this back and forth situation we are caught up in. lindsey graham in particular has been calling for the president to strike targets of significance inside iran but there has been a lot of bipartisan pushback on that kind of talk. >> what i have to say to lindsey graham and others madly calling for war is they sound psychotic. absolutely psychotic. war is very serious. the president is planning to go to war with iran, he needs to come to congress and ask permission. >> let's vote about it but we
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shouldn't stumble or slide our way to another war in the middle east and have congressional robust debate and vote. >> reporter: war or not, there is a growing number of democrats, republicans now, that say the president needs to come to congress before he takes any military action even if it is retaliatory for fears that this will turn into a wider conflict. >> i urge extreme caution, consultation with congress and real thinking through what this looks like in the big picture. >> reporter: the white house think that has the authority to respond because this is self-defense, in their eyes, there are people here that are wondering are we already at war? that the question they want answered. ashley: david: a lot of people over there think we are. appreciate that. keith kellogg is here to get into this. i want to start where i think a
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lot of military families are right now. why did the united states wait until our troops were killed before changing strategy that wasn't working? >> i don't know if we have changed the strategy. the targeting has been done. the commands have gone out from the president as commander in chief. this will probably occur tomorrow or the next day based on timing but if what i'm hearing is correct, what i am understanding, tier 1 targets mean leadership within iran, the portal facilities at the tier 2 level, the naval facilities, they are going back to tier 3 level which is attack hezbollah, targets like that, iran, iraq, yemen, places like
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that. listening to what people say on capitol hill, where have you been the last 60, 90 days. there is a war going on right now. we are not bringing this to a conclusion or putting anything back in the box. david: i just want to play a soundbite from john kirby speaking at the white house yesterday. he claims they have been doing all that they could be doing. i want to play that and get your reaction. >> this idea that we with all past the graveyard and walk away from the challenge iran poses isn't borne out by the fact. david: tell me about that. >> he said it's not borne out by the facts. everything we've been doing and we lost three americans. that is such -- i am glad he doesn't have his admiral uniform on. it's disturbing to be when you
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hear things like that. part of the president's job is to protect our young men and women in the field. they attack our facilities and our men and women and there is no significant response. they are blowing up buildings. david: there is another thing we haven't talked about. between obama's appeasement and what people call biden's appeasement now, trump's maximum pressure campaign and a good deal of that, the lions share of maximum pressure had to do with economic sanctions which brought iran to its knees economically. they couldn't afford to fund hezbollah or the houthis because they didn't have enough cash. now they have tens of billions of dollars because the biden administration released economic sanctions was why are we not putting them back on? it worked with iran.
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>> you have normalization of relations with iran, we've got to go back to the way it was under obama. they don't mean when they say death to america, don't really mean it, they are not serious when they attack our facilities. it is what admiral kirby said. they are whistling past the graveyard. war is a serious business and so is engagement with someone who's a global state-sponsored terrorism which iran is. david: last question the producers would like but our military recruitment has been crashing as you know but the army, the marines, etc. we just don't have people recruiting in the right numbers. what is this going to do to our recruitment, the fact that soldiers had to die before they fought, all about changing strategy?
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>> great men and women will join the military if they believe there's a cause and they are supported by the government. i don't believe they are. down to 66% or lower. that's why you see the american army the smallest it has been since 1940. they are not bringing the people in because they don't want to. they are voting on this administration with their feet and their feet are not headed towards recruiting stations. it is a fact and it is going to stay a fact. david: appreciate it. coming up, the senate and the house are facing a stare down on a border bill. we will have the latest on those negotiations after the break. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this.
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♪ ♪ >> my hope is the supreme court and court across the country see what's happening on the border. it is not what happened under bush or trump or under obama. this is something completely different that has never happened before the history of the country. this is an invasion. david: halting illegal immigration, this is the two chambers of congress that appear to be on a collision course over a bill to fix this crisis. house republicans are skeptical in the border package with some
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saying the bill isn't what's needed to really slow the flood of immigrants into the united states. hillary vaughan has the latest on this. it the senate against the house in some ways. >> reporter: republican say as president, president biden has the power to do a lot but he chooses not to. republicans say he could end catch and release and not not for parole to thousands of people a day and go back to the remain in mexico policy, so people wait out there asylum claims there, not here but the white house insists biden needs congress to get control of the crisis. >> these executive measures, if he gets border funding and includes those authorities he will use those authorities. >> reporter: speaker mike
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johnson says if the bipartisan deal is anything like what is reported, allowing 5,000 migrants to cross illegally before shutting down the border he says that's not fixing the problem, it is normalizing it. >> illegal immigration is illegal. it's against the law. why would you tolerate 5000 a day before you suddenly enforce the law? that would be surrender. the goal should be 0 illegal crossings a day, not 5000. the president's authority should be utilized. >> reporter: the homeland security committee is debating impeachment articles for dhs secretary alejandro mayorkas. democrats today defended the job he has done. >> you think sector mayorkas is doing a good job? >> i have a leaflet we need to strengthen border security, but the biggest thing we need is to pass a bipartisan bill.
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>> reporter: do you think he can't do the job because hunger hasn't given them the tools? >> he is handicapped. >> reporter: mayorkas wrote a letter to mayorkas saying their efforts have not rattled him one bit. david: hope you don't take this as an insult but i think the scariest words in the halls of congress are hillary vaughan is coming, watch out. i think you should take that as a great complement because that's what reporters should be doing. thank you. let's get reaction from house freedom caucus member of the republican maryland congressman, i don't think you are afraid of hillary. the main question we have here is why do we need a bill at all? donald trump, let's be clear, did not need a bill to tighten up and essentially close the border, president biden did not need a bill to open it up again.
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why does president biden say we need a bill now to stop the flow? >> it's clear you don't need a bill, donald trump was able to do it without additional legislation, this president has all the authority he needs. he's unwilling to use it. you wants to leverage this crisis to get more funding on the border, not to stop people at the border but process them in, 5,000 people today. we don't need more funding, we just need to close the border. david: what puzzles a lot of folks looking at dc's some republicans seem to be on board with this including the leader of the republicans in the senate, mitch mcconnell and james lahnkford who are pushing that we need a bill. >> the president has all the authority he needs and we asked the american people are you going to believe your lying eyes? they saw donald trump was able
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to restrain border crossings undercurrent authority, we don't need new laws, we need a new president. david: i want to get to the mayorkas issue. you've been after mayorkas to get information. i signed a letter you wrote two years ago on february 15, 2022. you wrote a tough letter to him about why this situation was exploding and then it was only a fraction of what is now. has secretary mayorkas ever acknowledged the fact that we are in the midst of a historic explosion at the border unlike anything we have ever seen? >> he hasn't. one of the reasons we are going to bring articles of impeachment is he has come before congress and are you going to believe your lying eyes? he says there is no crisis at the border, it is under control and people see with their own eyes thousands of people crossing the border, admitted into the country by secretary mayorkas and president biden.
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david: the situation in the middle east is getting hotter every day. we certainly don't want and appeasement of iran. we've seen what that appeasement leads to. and the death of three us service people. we don't want a middle east war either. what's the middle ground? how do we deal with the situation? >> we have to restore a get tough policy on iran, not send them $6 billion but shut off their oil supply to the rest of the world. if they can't sell oil, the country, the regime, the bottom line is we have to tighten the screws on iran and this administration has been loosening these screws since they took office. david: maximum pressure worked under donald trump. iran was down to single digit billions in terms of its oil revenue, now it has tens, hundreds of billions of dollars in oil revenue because
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sanctions were lifted but if it is tried, if maximum pressure that worked under trump is tried under president biden would you have the same result? >> i think you would. money is money. this regime which is very unpopular within iran folds up if they have economic collapse, restrain their ability to sell any oil on the world market. we have the military power to do it. we can control pipelines, we can control ocean passages for this oil. we could embargo oil in iran, one thing to consider. david: and a short war which is a good thing. doctor andy harris, appreciate you being with us. coming up, is the gas stove flight flaming out? the biden administration backing off of a full gas stove ban for now but we hope new regulations on some gas stoves are stepping stone to a full band. we give you the details after a short break.
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david: the biden administration stepping back on banning all gas stoves. regulations will target 3% of gas stove sold in the us, blue states moving ahead with their plans of gas stoves and natural gas heating. let's look at the moral case for fossil fuels arthur alex epstein. thanks for being here. a lot of people have forgotten what was originally said a year ago by the consumer product
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safety commissioner. speaking about gas stoves is a his and -- a hidden hazard. product that can't be made safe can be banned. these new regulations are pretty far cry from what he was saying. does that mean we are off the hook but are you worried about the camel's nose under the tent? >> why is this the government's business at all. this is something that occurs within your home. are they talking about science, any issue with fumes you can ventilate, but people should decide what to do in their own homes for their own health and note need an idiot deciding he knows what safer everyone and dictating it. that he has a fascist right to control people's rights and a 3% move. because the trial balloon
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didn't go as well as he wanted. david: i lived in a house with electric baseboard heating, it's terribly inefficient, very expensive, not at all as efficient as the air-powered natural gas heating we have. has there been a revolution that i missed on electric heating, making it better in some way than natural gas? >> things improve. there are uses for heat pumps in certain situations. you asked the right question, is there a better option? if you can approve it, show it, this is more absurd than gas stoves, this is the most efficient form of heating a home, doesn't stand up turning natural gas to electricity and heat, with a huge amount of energy, and get something like 75% of its raw energy.
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in new york, they have huge problems with electricity and then they want to prevent people using gas in their homes, just means more dependent on electricity which they can't be relied upon to provide. david: they just want the big tag that they are still at war with fossil fuels. some of it is just for show but some of it is real. the new halt on lng exports, liquefied natural gas exports to foreign countries. that's serious. not only for us and our ability to sell our natural gas we have so much of but the foreigners willing -- really depending on it coming. >> does no one have any memory? very recently, europe is scared of winter like we are in game of thrones or something like this. they need us for natural gas
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and the global energy prices and biden's movement, let's stop one of our best weapons for energizing the world, also a tremendous benefit to us so it is pure election, wanted to appease a bunch of tiktok people who don't know anything, claims it makes natural gas cheaper. david: what happened to liberals concern about russia? russia would be a beneficiary, holding europe like never before if we can to these lng experts, the more case for fossil fuels, arthur alex epstein, pleasure to see you again. >> good to see you. david: the symbol of china's prosperity crisis is heading to liquidation. the reckoning is for china's foreign creditors gaetz own institute, gordon chang is here. how big is this liquidation for
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the chinese economy? >> over $3 billion in debt everywhere. the real issue here, a very bad time for china. in 2,008, decided not to have a recession so overstimulated the economy, now we are having the final break in it. people can argue as they have liquidation won't trigger a collapse. it is coming get at a time when so many other problems are occurring in china. we don't know the effect long-term but it can't be good for the chinese economy and the financial system. david: can't be good for their ability to sell bonds in the future. bondholders will only get back two cents on the dollar of their investment. this will hurt them long-term, their ability to sell that worldwide.
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>> china needs foreign money, the first time in a long time, china had a net outflow of foreign cash, if they lost confidence in china for a lot of reasons, one of them is the attitude of xi jinping the ruler, towards florida money. this is at a time where we reinforce negative views on china and they will have significant effect on china because they do need foreign assistance. david: i want to talk about an alliance that's getting stronger, not weaker, the alliance with russia. how concerning is that? >> i believe the ukraine war will determine the future of the next 2 or 3 decades. it is a regional war, because of china's involvement has global implications.
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of russia were to prevail russia made clear it is marching on nato. china supported russia to help and we are not doing anything about it. even though china's actions cost president biden's redlining legal aid and they are supporting it with increased purchase of was of russian oil which are violation of international sanctions. david: thanks for being here. home depot cofounder can landgone doesn't want to throw money down a rabbit hole. is hosting a fundraiser for nikki haley, does he like her chances? more coast-to-coast right after this. ♪ ♪
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>> we moved 25 points, 1500 in charleston, 800 in conway, 76 approval rating and now i'm showing i will be a good president. we feel good about that. david: nikki haley on her momentum in south carolina despite recent losses. she's in new york city for an event tonight. fox business's charlie gasparino has all the details. after new hampshire, just before new hampshire, now he's hosting this event? >> these commitments were made a month ago.
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i don't think who got the fundraising invitation essentially before new hampshire, you got to show up, pay money. i still hear that the grumbling inside the donor base, are they throwing good money at bad? if she loses to double digits in her home state it is hard to make a case that she's going to be the republican nominee. one thing i know about people like langone and others on the list, they are all good business men. they would rather see her than donald trump as president but they will not throw money away. at some point, if she stays in the race their calculation would be what's worse? donald trump as president or president biden as president?
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is she weakening trump so much that he might lose to president biden? with the you like donald trump's mean tweets and some of the things he says there was an issue about him going to jail in the not too distant future. let me make the point you talk to these guys, he does embrace more free market policies than anything we have right now. david: about nikki haley is anything short of a win in south carolina going to be bad news for her? will langone pool out if he made again over what she did in new hampshire but came in under donald trump? charles: if she narrows the gap to single digits based on what i am hearing, they might keep her going for a while. i also think that if it's a double digit significant loss, it's over in south carolina.
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this is where her campaign gets tricky. it is almost -- that doesn't mean i don't like her policies, just from a neutral observer's standpoint her campaign is predicated on a face plan for trump by dropping dead, not saying that's going to happen, and dig up in jail and gop voters getting scared, because of those two eventualities, his old and indicted five times, those two things preventing him from being the nominee or being president. it's not predicated on winning any states if you notice. that's a problem. especially if you can't win your home state. that is what all these guys, here's the other thing. donald trump didn't run, would the country, the republican party turned to a non-amaga candidate and embrace nikki haley as opposed to some want to the right of her? i don't think that's the case.
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i don't know if she represents the republican party as it is right now. david: let's get reaction from our political panel, state senator david carrlukey, thanks for being here. let's put it all in context for the moment with the markets. now you have president biden doing what they used to criticize donald trump are doing saying market success is a sign he's doing great. i would argue one reason markets are doing great is we have a divided government, and the house is controlled by republicans so the less they can do the better as far as markets are concerned. >> one of the scenarios, one of the economic indicators we look at whether it is the stock
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market or the unemployment rate, lowest in the eisenhower administration, they are pointing to success for president biden. you take credit for the stock market or good economy, you tried -- david: anything you can. >> donald trump tried to take credit for the stock market rally which i think is obviously absurd and the biggest thing here is donald trump is his own worst enemy. he's great to the base, he's got this rabid support but he's alienating more and more non-loyalists. in iowa 29% of people who turned out said they won't vote for trump in the general election. with the old saying, lies, damn lies and statistics, i said before, we heard democrats say the stock market is not the measure of the actual health and wealth of the nation. what's happening on main street, i watched democrats pretend that 7 million jobs created under donald trump
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pre-covid were a result of the previous obama biden administration and now all of a sudden here we are with president biden trying to take credit for the success of wall street and that's a great, to take credit for the fact that everything that happened in the recovery is on him even though we know donald trump literally was forced in many ways to send people home by virtue of those mandates so that's the reality. to david's point the stock market is doing well but we have 7 million americans sitting at home not participating in the workforce, able-bodied americans and ultimately when you have $1 trillion credit card debt and americans -- david: look at the polls and they don't look good for the president in terms of how americans feel about the economy. and abc news poll asked an interesting question. which of the south more right to you, one, the economy is in good shape given low employment which you mentioned at rising
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wages, or the economy is in bad shape given higher prices and interest rates. the people who say the economy is in bad shape based on those things is 70 one%. people say the economies in good shape based on the factors you mention, only 24%. you are way behind in the polls. >> inflation is a real driver. david: interest rates going up is the new driver. >> there's predictions now interest rates cut next year and if there are those, rallying in the positive for our economy and we could point to different indicators but this is what we have, and employment, stock market. we don't look at that what we look at? david: when they combine -- >> most people say i am doing okay but i'm concerned about the overall economy. even donald trump is paying attention to this, getting
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worried about taking credit. david: there are questions about whether powell, head of the fed will juice the economy a little bit by putting extra rate cuts in their. do you think that will happen and if it does could that take the economy off the table for recovery? >> powell is committed to know inflation on my watch, the biden administration saying no recession on his watch. at the end the tug-of-war that leads everybody from wall street to main street so that is the issue. most people looking at credit card debt, their savings account which is eviscerated, 5. $5 trillion. those are the real issues. they are bankrupting people on main street because the policies of the biden administration from banning natural gas and liquid natural gas -- david: haven't abandoned yet. gentlemen. >> a strategy. david: we could go on. great to see you both.
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a new campaign to get rid of a system allowing restaurant owners to pay their wait staff less, those owners are not happy about it. we will dig into it coming up next. we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪ ♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body
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david: there is a new plan out there with that would have the effect of waiters depending more on salaries and tips. a new survey showing 95% of restaurant owners oh oppose the new rule saying it would lead to higher menu prices and playoffs. let's bring in hospitality alliance executive director andrew riggy. i was a waiter. i have no shame up. it was a great way to operate between jobs when i was in college. waiters essentially, this was years ago, waiters essentially lived on tips, not salary, salary was something you get paid for carfare essentially. it was the tips you wanted and obvious reasons, if the tips were in cash. i'm talking tax reasons for that so i assume not only are business owners against this new rule but a lot of waiters would be against it focusing more on salaries and tips. >> you are spot on.
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the state of maine a limited the tip credit a couple years ago and restaurant workers with the owners lobbying to get it reinstated. dc last may a laminated the tip credit and lost 1300 jobs since may so people want to preserve their tips, preserve the tip credit, local restaurants and jobs as well not to mention to keep menu prices reasonable. david: that the point. no way you could do this without having to dip into your already small profit margin. the profit margin, they say the profit margin is between 5% and 10%, you can't dip much more into your own pocket and make a profit, right? >> those are the restaurants that are considered successful. let's not forget the restrictions we had. the covid era debt a lot of
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small businesses have on the books so our state legislatures should be looking at policies to help small business to help job creation, not do things that could potentially put them out of business and hurt people. david: there is a problem of tip fatigue on the part of consumers. everybody wants a tip, you go to purchase a cup of coffee you leave a tip. does that mean tip percentages at restaurants have gone down significantly because people are so fed up with all this chipping? >> good point. they fluctuated but the tip credit applies to full-service restaurants where you sit down, someone is serving you. this is not an issue that impacts the coffee shop where they flip around the screen and give you a few options. i would separate the two. david: there's a question about going home late at night when you have tip money in your pocket. that's another concern we will talk about next time. more coast-to-coast right after
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