foreigners as possible into the country, wide open borders and insuring that you're sending money to places like ukraine. look, you heard chuck schumer say it the other day, he said the pressing issue right now is ukraine. we've got to send the money now. hannah, reaction. >> i think that the number of times he's going to blame trump tonight should not be a drinking game, because your going to be in bad trouble -- maria: wow, good point. and president trump's to going to be doing live play-by-play tonight. >> i'm so excited, because biden's words will ring hollow, and president trump will set the truth straight. we will truly know what's going if on from our former president. maria, and by the way, that's the great thing about economic numbers. these can all be quantified. >> yes. he can't lie about that. maria: he did say a recession is not a recession when it was actually a recession. have a great if day, everybody. "varney & company" begins now. stu, take it away. stuart: good morning, everyone.

it's the tate of the union tonight.. -- state of the union. biden will go with after greedy corporations. he'll propose if much higher corporate taxes, he'll take more from millionaires and billionaires and rail against shrinkflation. but what people will be looking for is whether the president has the mental and physical stamina required for four more years. donald trump will conduct what he calls a live play-by-play during the president's speech. he will correct in rapid response my and all inaccurate statements, end quote. should be fun. to the markets, and look at this. nvidia has broken above $900 a share. 902 right now in premarket action. it is now a $2.2 trillion company, only slightly behind microsoft and apple. and there's a big gain for novo nordisk. they've got a new weight loss drug. it's a pill, and it's showing major promise in early trials. that stock is up another 6.55%. the dow industrials, pretty

green, up about 100. and look at the nasdaq, up over 100 points. modest rally in progress. bitcoin at the $66,000 level, 66,9, to be precise. gas going up again, just creeping higher, $3.38 for regular and diesel coming in at $4.05. let's not forget gold, or hitting new highs. right now it's at a $2, 164 an ounce. politics. will there be a biden-trump presidential debate? yes, says trump. anywhere, anytime, any place. biden? doubtful. the white house will not commit. on the show today, in san francisco the luxury women's clothing store in the palace hotel closing. they've been broken into six times. the owner's had enough. and you'll meet the student who commuting between new york city and florida to do the an internship at the ritz carlton hotel in naples. does that a make financial sense? thursday, march 7th, 2024, "varney & company" is about to begin.

♪ ♪ let me clear my -- [cheers and applause] oh! stuart: wait a minute, let me clear my throat? >> yeah. [laughter] so bind can try to get through it tonight. stuart: you're kidding me. >> that is why dj cool wrote the song 30 years ago, in anticipation of -- my if sources are telling me that. [laughter] stuart: stop shaking your head. we better start with politics. donald trump is challenging president biden to debate anytime, anywhere, any place. doesn't seem like the white house want wants that -- that to happen. roll tape. >> reporter: is president biden going to commit to a debate with donald trump? >> that's something for the campaign to speak to. >> reporter: well, we know when the debates are going to be.

we know where they're going to be. is he going to go? >> you should speak to the campaign. >> reporter: in 2020 once it got down to one-on-one, joe biden said i can hardly wait to debate him. how about now? if. >> i'm going to sound like a broken record. you should reach out to the campaign. stuart: you know, peter doocy really did can try, didn't he? [laughter] >> he's very good. stuart: i think his happened arelers will move heaven and earth -- what say you? >> let's cut to the chase, there will not be a debate, and i will bet each one of you $5. who's taking me up? stuart: the i will. >> you think there is going to be a debate? stuart it's $5. >> if you remember in 2022, the rnc i vowed we're not going to be part of the commission on debates anymore. trump said forget all that, i will meet you anytime, anywhere, anyplace, whoever wants to organize this debate, i'm this. because literally in this

scenario, stu, there is no place where joe biden would beat donald trump in a debate and, in fact, anytime these two get together in a speaking arena, whatever it is, donald trump 100% of the time would destroy him, and that's not me speaking. that's democrats who know that. stuart: if he doesn't do any debates at all, that that looks terrible. >> you know what else? 2020 when he was in the basement the entire time running and, yes, admittedly, he did some debates, but he did them after a lot of the votes were with already in. they won in 2020 by doing basically nothing. they're going to try to do even less this time. outer stuart to all right, todd, thank you very much, indeed. the white house says the president will be fine dealing with any hecklers or protesters tonight. watch this. >> look, you saw the president last year when, when some are republican members behaved in a way that was i would saudis

respectful, and -- say disrespectful, and he handled that, and he did that on his own. he called them out on it as they were, obviously, heckling at him. so the president's ready for anything. stuart: ready for anything. well, that's interesting. texas senator ted cruz joins us this morning. mr. senator, the president could be embarrassed bigtime by pro-hamas demonstrators wrought in as a guests of congressional a democrats. he's facing that, isn't he? >> well, he is. he's facing his own party or in disaa ray was the -- disarray because the radical left has gotten so extreme on the issue of israel that there's a profound anti-israel movement in today's democrat party that is really disgraceful. and we see it at elite universities, we see it in the halls of congress. and it's, it's just one manifestation of how extreme this democrat party has gotten. you know, this is not your grandfather's democrat party. this is not, you know, this is not where bill clinton said in his state of the union the era of big government is over.

those words are not going to come out of joe biden's lips because joe biden's agenda is more spending, more debt, more inflation, more crime and more illegal immigration. and i think that's his fundamental problem, is we've now seen over three years the disaster that is his policy agenda. so he's going to do everything he can to try to change the topic and to just gaslight. i'm going to predict east going to do something tonight -- he's going to do something tonight that's going to be remarkable chutzpah, he's going to blame his own open borders on republicans. he's just going to try to convince the voters never mind what's happened the last three years, just listen to my campaign spin. stuart: are you expecting an anti-business speech full of tax hikes and regulations? because that's what we see coming down the pike. how about you? >> well, look, i don't know that he will own that as much. i think instead he will just try to argue that things are better than they are, that everyone who's struggling to pay the bills, that's struggling to pay

the rent, that's seen mortgage rates skyrocket, you're just wrong. your life is better than you think it is, and things are hunky dory. he's also, i think, going to talk a lot about democracy and saving democracy, ironically, while he's refusing to debate donald trump and while democrats have spent the last three months trying to throw trump off the ballot to stop the voters from voting for his opponent. and i'll tell you with, stuart, four words you will not here tonight, you will not here him -- hear him say the words laken riley or jeremy caseras. laken riley are, a beautiful 22-year-old woman, nursing student in georgia, murdered by an illegal ail a yen. jeremy was a 2-year-old little boy who was murdered in virginia by an illegal alien that joe biden released. he doesn't want anyone to focus on how he's engagerring the family -- engager dangering the families. stuart: do you have a guest tonight?

>> i do. the sheriff of presidio county, texas, right along the rio grande border, and he's an elected democrat. he's been an elected democrat for 28 years, and i'll tell you, stuart, sheriff dominguez has endorsed me for my re-election this year, in 2024. and the reason is a number of thing, but right at the heart of it is, number one, standing with law enforcement and, number two, securing the border. and today's democrat party in washington refuses to do either one of those. stuart: senator, minority leader mitch mcconnell stepping down in no, john john cornyn and john thune have announced tear bids to replace him. who do you want to see? >> listen, i'm going to listen to my colleagues. both of those gentlemen are friends of mine, i've served with them for a lock long time. i'm going to listen to every candidate who puts himself forward to be leader. i think we deserve a strong the conservative leader. i think we deserve a leader of the senate that is focused on

honoring our promises, doing what we said we would do. i'll tell you, stuart, when someone is newly elected to the nat or the house, the advice i always give them is do what you said you would do. whatever you told the voters in september, in october that you were going to do, when you get there in january and february, just do that. and i think there's a lot of frustration across this country with career politicians in both parties who don't follow through on their commitments. i think republicans in the senate, i hope, next year we'll have president trump in the white house, a republican senate and a republican house. and if and when we have that, we've got a lot of work to do to turn in this economy around, to get jobs back, to lower inflation, rein in crime, and we will secure the border and fix this disaster joe biden's created. stuart: it would be fun though, wouldn't it, republican white house, senate -- i know. politics can be fun. senator cruz, thanks for being with us, sir. see you again soon. >> thanks, stuart. stuart: yes, sir. check futures, please. it is thursday morning.

dow's up 100, nasdaq up 103. adam johnson with me for the next hour to cover the market. do you think this market looks a little bubbly? is it a bubble? >> no, absolutely not. two reasons, i'll tell you why. number one, valuation. number two, cash still on the sidelines. the s&p 500 is trading at 21 times earnings. well, for perspective, stuart, in previous bubbles like in 2000, 2009, the s&p went as high as 70 times earning. in fact, the nasdaq in the 2000 went to 600 times earnings. again, we're trading at 21 times earnings. these are not bubble valuations. that's point number one. point number two, stuart, and this is very important, there's still $6 trillion of cash on the sidelines. right? people are still, you know, saying, well, i don't know if i want to go in. i'm earning 5.25 on 1-month t-bills, maybe i'll just sit on the sidelines. look at what they're missing. stuart: a little fomo coming on here. >> yeah, fear of missing out. in bubbles, when you have a

bubble-type atmosphere, everybody's in. i remember in 2000 getting in a new york city if cab, and the cab driver said there's this great company yahoo!, right? that's what happens in bubbles, not $6 trillion of cash on the sidelines. i don't think we're anywhere near a bubble. stuart: stay there, please. with me for the hour. good stuff. coming up, cnn's to van jones issued a dramatic pitch to haley voters if they balloon no -- plan to back trump. >> you're going to wake up one morning, and you're going to see horror across europe, and you're going to see american soldiers and sailors going over there. if you want to continue to see the country being divided and unable to govern itself and treat itself well, get on that trump train. stuart: doesn't that sound just a tad desperatesome if. >> it does. [laughter] stuart: we'll have more on it, believe me. the white house approaching tonight's state of the union as a big public reset moment. so what is in the speech? hillary vaughn has the story after this. mug. ♪ ♪ we're going at it tonight, tonight -- ♪ there's a party on the rooftop

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♪ stuart: well, the political world is abuzz with the state of the union address tonight. hillary vaughn on capitol hill. all right, hillary, what is going to be in the speech? >> reporter: well, stuart, president biden must if think that talking taxes is ap a tuesdayinging to the american people -- appetizing, because he will be unveiling a platte or of new taxes in his state of the union address targeted at corporations and the rich. east going to tell americans that he wants to raise the corporate tax rate to 28, deny tax breaks to corporations that pay employee ifs over $1

million, quadruple the tax on stock buybacks to 4% and increase taxes for corporate and private jet travel. president biden will also push what he calls a unity agenda, urging congress to find common ground on things like privacy in big tech, fentanyl and ending cancer. while this may be a reset opportunity for biden, he isn't asking for a do-over. instead, he's doubling down on his agenda and trying to convince voters to want more of the same. the white house saying he's going to build on the progress of the last three years in this final stretch of his first term. president biden is under a microscope as voters of skeptical of his age and his ability to be up for the job for another term. the white house says biden is even preparing for some sparring with hecklers, even possible protests from progressives in his own party due to the israel-hamas war, and they're brushing off concerns that biden may stumble in his speech. white house deputy press secretary saying this morning that any focus on a possible stumble is, quote, distraction

du jour. and the white house likes to say that president biden takes a cognitive test every day by just doing his job and doing it well. so if that's the the case, tonight may be the biggest, most important canning anitive test for president biden -- cognitive test for president biden tonight in prime time on live tv. stuart? stuart: i think you're right, hillary. it's a big test tonight. thanks so much. speaker johnson, by the way, sounding the alarm on the actual state of the union. roll tape. if. >> and i've been asked many times, as many of us have, if you had to describe in one word what you believe the state of the union is, you've heard the word crisis, you've heard catastrophe. i think maybe a summary is decline. i say that with great sadness, we all do. but it's because of this president and his administration that we are indisputably in decline. america is in decline. nothing he says tomorrow night's going to change that. stuart: florida congresswoman

kat cammack joins us now. congresswoman, i live in i blue states, new jersey and new york, and we are, clearly, in decline. your in florida -- you're in florida. florida's not in decline, is it? >> no. and come on, stu, you know all about the sunshine state and how great things are. [laughter] we are all about sunshine and freedom. and prosperity. and while i do agree with speaker johnson that there are elements of america that is in decline, america is exceptional a. we are strong and and we are resilient, and we will survive the horrific term of president joe biden, and we will retire him this november. but i know that people are still frustrated about the fact that he's going to try to sell us a bill of goods, and it is going to be all hat and no cattle. he has per if fetch waited policies -- perpetuated policies that have hurt americans across the spectrum in blue and red estates. and tonight is just going to be another example of where they try to spin a sad a tale and try to make it sound beautiful. we know it's not.

stuart: congresswoman, you're going to be joined tonight by the father of a young woman who died from a fentanyl if overdose traced back to the cartel. you're making a point "president probably does not wish to see in the chamber, right? if. >> absolutely. i mean, deflection and deny is pretty much the m.o. of this administration. the open border crisis has killed over 100,000 individuals through fentanyl poisonings every single year. stu, if we had an airliner of 300 passengers going down every single day, by the end of the week all flights would be grounded, and this would be an investigation as to what was going on. but because it is the result of a policy that they have perpetuated, they have chosen to ignore it. and we have families and communities that are hurting as a result. so selena, the daughter of mr. ed bravo, she was murdered, she was poisoned by fentanyl. she thought she was taking something that she actually wasn't, and he is going to be in the room tonight as a walking,

talking, breathing reminder of the failures of the biden administration. stuart: how far would you go to go after the cartels which are bringing this stuff into the country? i think former president trump was talking about using the military maybe inside mexico. of how far would you go? >> well, keep in mind that the commander in chief today is more like the trafficker or in chief. he's doing the final leg of the journey on behalf of the cartels. and this is all about money at the ending of the day. the cartels are in it to turn a buck. so what we could do immediately is secure the border. it's not hard. you secure the border, and then that stops the flow of illegals and narcotics into our country. it makes it exceptionally difficult to do the job that the cartels are doing if there is a secure border. so that's big step number up one, two, three. beyond that, there's a number of things we could be doing including putting pressure if on mexico which, by the way, the cartels control 40% of mexico infrastructure and territory today. we need to be actually addressing the root cause right now of what's coming in, and

that's at the southwest border. stuart: got it. congresswoman, thanks very much for joining us. thank you. >> i appreciate it. stuart: speaker john johnson wants a bigger majority in the house for republicans. what's he doing to make that happen in lauren lauren fund raising. he lawneded a committee, republicans hold 219 seats to democracy' -- democrats' 213. all 435 seats up for grabs, but let's show you these 19 republicans who are not seeking re-election, ken buck in there, patrick mcif henry. and 17 others representing districts that biden actually won in 2020. so this is the message from mike johnson, act now in, donate now to stop the biden chaos. he sees democrats in 2024 doing two things; this amnesty, bringing all these migrants in, giving voting rights to illegal immigrants which means maybe the republicans don't take the senate or keep the house anytime

soon. stuart: voting rights to illegals? lauren: that's right on if web site. >> crazy. stuart: it's not constitutional. lauren: he thinks that's a purity for democrats in 2024. stop the madup, give us your money. >> think what they did in san francisco. the elections board nominated and elected to the board a woman who is a chinese national who barely speakes english. she's not even -- speaks english. she's not an american citizen, she doesn't speak our language, and she's on the board of elections in san francisco. stuart: that's a -- >> crazy. stuart: got that right. thank you, adam. nice contribution. check futures. i see green. dow's up 120, nasdaq up 132 points. the opening bell is next. ♪ one thing to do, three words for you -- ♪ i love you ♪ ♪

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stuart: all right, futures point up. dow's up 130, nasdaq's up 127. jeffrey small is with us this morning. jeffrey, you're saying google, apple, tesla are all all on sale. they have gone down a lot. does that mean you're buying any of them?

>> absolutely is. i'm definitely buying apple. you definitely want to own apple. it's going to have a pricing reset over the next couple of months, but it's a historical mistake not to own them, stuart. they've got a suite of products mt. if iphone that'll come out in june with even though they're going through some issues in china. stuart: so you'd buy apple when everyone else is running away from it. it's the at $168 this morning. >> i would definitely be buying apple. stuart: and what else? tesla? google? >> i'd also be betting tesla. you don't want to bet against bat withman, okay? musk is a superhero. he recently said we're going to have macroeconomic if issues, and tesla is going to be include colluded in -- included in those over the next 12 monthses, but this is a stock with a longer-dated investment approach that you want to own over time especially on these dips. stuart: one last one for you. what's the best stock to own outside the magnificent seven? >> everybody wants to know the answer to that question considering only 15% of the

entire stock marketplace, stuart, can be considered a growth stock. but the one blue chipper that's done the best is costco. it's up 60% in the 12 months, it's up 230%. 9 it scares me because retail is becoming more overvalued than tech. we're living in marketty very genesees in the market itself, so that makes no sense to me. retail -- walmart is in the 30s, microsoft is in the 30s. who would have thought walmart had the same valuation as microsoft? it's a scary time. stuart: would you buy costco at $780 a share? >> i wouldn't touch it with a 10-foot poll with a 51 bryce to earnings ratio, walmart's the highest valuation in history, costco the highest in history. it makes no sense. it's defying metrics and traditional financial management of stocks. stuart: jeffrey small, short, sharp and to the point. we love it. come back son. the -- soon. the opening bell is ringing. the dow straight up, 200 points

to the upside, look at that. and if you look a the dow 30, there's only 3 losers, and apple's one of them, by the way. 3 losers and 27 winners at this point. the dow's up 203 points. how about the s&p 500? if yeah, that's up 30 points at this point. the nasdaq composite, yep, straight up, .7%. big tech's doing very well. let's have a look at that, please, big tech. i prime that they're all up. they are -- i presume that they're all up. meta, microsoft at 405, alphabet,ing amazon, only apple amongst those big five tech companies is down, and it's down just 15 cents. we're starting with individual stocks. nvidia. it's now $899.23. earlier it was $903. how about that? lauren: chipmakers are doing well. micron got an upgrade. it's lifting the sector. stuart: nvidia above 900. how about that? >> do you remember, by the way, stuart, about three weeks ago when i upped my target to 900

and it was at 650? lauren: what about now? >> i've got to redo the numbers. i can get to 1200 -- lauren: whoa. would be the highest on the street that i know of. stuart: tesla is down two-thirds of 1%. it's up 30% just year with, 2024. is there more bad news? lauren: it's no longer part of the the top ten biggest companies in the u.s. we're going to talk about novo nordisk in a second, it's now bigger than tesla. if you look in value terms, tesla lost about $240 billion in market cap this year. and i have an update on the german plant. remember, there was suspected arson nearby? if power out, no electricity? that's expected now to last until the end of next week. stuart: ouch. stuart: so you have at least 1,000 cars just sitting there. they can't move those cars, and analysts are further downgrading their delivery expectations for fess a la -- for tesla. stuart: and i'm sure the environmentalists believe they just won a major victory. lauren: diane elon musk is just

going to sit down and take that? he's pressuring the country of germany, you have to do more about this. protect your infrastructure. we're moving into the electrification of everything, protect the infrastructure that powers that. >> and guess what? he can help do that with batteries because he makes batteries. stuart: that's right. >> he gets it both ways. stuart: novo nordisk, big rally going if on again. it's up now 7%. lauren: yeah. stuart: strong results from a new weight loss drug. the successful drug wegovy, you get that through a shot. this one's a pill. lauren: yep. how easy. early study, phase one, showed people lost 13.1% of their body weight in three months. take the pill for three months, drop 13%. they start phase two soon is. results coming 2026. compare that, compare everything i just said to the unnext wegovy. injection. you could make the argument hat pill is two times more effective because in 12 weeks' time with wegovy, lose 6% of your body

weight, with the bill they're guiding 13%. stuart: good lord. lauren: and i can tell you novo novo nordisk is now the 12th biggest country in the entire world. not just here, the -- not just europe, the world. stuart: victoria a's secret, i it's way down. what's the problem? lauren: amazon. jpmorgan downgraded hem to sell. they say customers are buyingless lingerie because it's more expensive, and their sports bras are coming from amazon is. e-commerce players, lulu lemon, victoria's secret sports bras are comfortable, i will say that. they're out with a weak forecast for the year, their third consecutive years where sales fall in -- if their guidance is correct. stuart: that's a huge loss, 26. kroger's reported before the bell. i take it they did well, they're up 5%. lauren: yeah. their outlook was pretty good. consumers are cooking more at

home because it costs so much to go out to eat, so pick your poison, right? save money by cooking yourself. but kroger is trying to merge with albertson's, expect ftc is trying to block that, right? they don't want more -- they say prices will go up. so the ceo of kroger made some very specific comments on the call. he said we're lowering prices every single place we can, and, you know, if you're a member, we're offering you personalized promotions and rewards, kind of like stick it to the ftc. we need to compete with costco and walmart, so let us merge with albertson's so we have more market share to do that. stuart: this government believes big is bad, therefore, you can't do it. lauren: anti-big business. anti-business, actually. stuart: new york community bank in trouble financially, but i understand there's a big name guy riding to the rescue. who is this? lauren: former treasury secretary steven mnuchin, and i forgot all about him until yesterday with. his liberty strategic capital and two other investment firms

are injecting a billion dollars into with new york community bank. what do they want to do? shore up confidence so depositors don't pull their money. they have. the bank said this morning it held total deposits of $77 billion. that's down 7% from a month earlier. the problem is that new york community bank corp. has huge exposure to commercial real estate like offices right here in new york city. in fact, steven mnuchin just said the biggest problem in their portfolio is their new york office loans. but what happened in 2019 here in the city in they capped rent increases. that killed -- stuart: there you go. >> good old democrat policy for you. lauren: you can't bring in more money, interest rates go up, all these office builds are sitting vacant because everybody's working from home, this is what happened. so the question is, is this idiosyncratic to maybe new york community bank and a few other, or there -- will there be contagion? stuart: we shall see.

adam's brought some stock ticks -- picks, and we're going to start. tell that? i'll never buy into an airline. >> you and warren buffett. slap my hands if i ever buy an airline again. delta's the only one i've ever bought. just very quickly on valuation, it's super cheap right now. it's about 6 times earnings, it usually trades about $8.5. -- 8.5. they're going to earn about $7 this year. $60 versus 42 on the screen is. incredibly innovative airline. they have so many levers to pull from segmenting the cabin in 35 different ways to cargo, to third party maintenance for other airlines, to the deal with am-e where they get a -- am-ex where they get a billion dollars to give seats so they can award them through their own points program, and they own a refinery. fascinating company. stuart: you made a good case. i'm still not buying an airline.

[laughter] market access. what is that? >> yeah. very cool company that has 20% market share of all the computized bond and foreign currency trading -- computerized. there's artificial intelligence in that. and what makes it particularly interesting is that it's trading not only at a 5-year low on the chart, but also at a 5-year valuation low. it's trading you should 30 times earnings -- under 30 times earn earnings. that's a function of the fact that bond trading volumes were just down significantly because, you know, rates got yanked. so as rates come down, bond trading volume should go back up. that's very good for market access. stuart: got it. thank you very much, adam. we're still nicely higher, moderately higher. 174 points on the upside, 38,836. dow winners topping the list, we have intel back on top again. intel, american express, caterpillar, ibm, chevron all up nicely. s&p 500 winners, kroger, freeport-mcmoran, microchip

edwards life sciences and monolithic. whatever. okay, nasdaq composite, top there is broadcom, nxp, micron, global foundries -- or. lauren: they're all chipmakers. stuart stuart that's right. every last one of them. lauren: steeping is upgrading them to a -- steeple is upgrading them to a buy nod. -- today. the rally continues. stuart: don't forget to send in your friday feedback to varney viewers varneyviewersfox.com. james carville admits biden's age is a big issue for the white house. roll it. >> i thought it was telling that when he didn't do the super bowl interview. this is a big obstacle that they're facing with d -- faced with, and they have to deal with it. stuart: you know, tonight's interesting -- the address tonight is going if to be interesting, isn't it? >> it's must-see tv. stuart: the immigration, top concern for the voters. so is biden going to take any real action on the border tonight? former acting dhs secretary chad

wolf takes that on. of he's next. ♪ ♪ (♪)

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♪ ♪ stuart: biden's state of the union message, it comes tonight. former acting dhs secretary chad wolf with me now. all right, chad, do you think he's going to take any real action on the border tonight? >> i don't think so. i don't think we're going to hear any new policies or new ideas from the prime minister i think he'll double down on on the messaging that he had in south texas just several days ago blaming republicans and blaming others for for a failed senate bill that never got across the finish line. stuart: does that fly with voters really? if we've had this crisis going on for three and a half years, and he blames republicans. does that fly?

>> i don't think it does. i think most americans understand that -- they remember the actions that president biden and others took at the beginning of the administration in 2021 that undid a lot of successful programs that kept that border an orderly process. and so i think -- and all the actions that they've taken since to cause an end to the crisis that we see today. so i think most americans know who is to blame here, who is not taking action, and i think that's reflected in the number of poms that we've seen -- polls that we've seen on this issue. stuart: i suspect he's going to get heckled by some of the people in the audience when he goes anywhere near the border issue. let me ask you about this one, democrat senator dick durbin thwarted efforts to detain illegal migrants who have been charged with a violent crime. i don't understand that. how on earth do you stop getting rid of violent migrant criminals? why do you stop getting them out of the country? >> well, that's a great question. look, there's provisions, there's been single, i'd say

stand-alone bills passed in the house regarding migrants who have committed a dui, you can remove them on those grounds. this was a similar effort by senator ernst in the senate that, again, was thwarted by senator durbin. i don't know why you wouldn't let that pass. that seems combs. i think, again, the vast majority of americans would be in support of that. my guess is it's a tactic by senator durbin and others to try to get pack to that failed senate bill that they want to see passed. stuart: dhs reportedly spending $3 million on private counsel for secretary pie your cat' impeachment -- mayorkas' impeachment. that's the yearly salary of 70 border agents. should we just drop the impeachment to save money? [laughter] >> i don't think that's the answer. look, this is hard for me, you know, dhs has thousands of thornes -- attorneys, literally announce of attorneys both with at headquarters and across this country. surely, some of them could have

have helped the secretary and not have to spend spend on outside counsel taxpayer dollars. again, this is the same time where dhs is going to capitol hill and saying we don't have enough money to do our mission, yet they have found $3 million or more somewhere in their budget to spend on protecting the secretary. i think, i think it's, you know, the wrong use of taxpayer dollars. stuart: got it. chad wolf, thanks for being with us, sir. we're going to see a lot of you for the next eight months. i can see it coming. see you later. >> all right. thank you. stuart: it's going to be a bide biden-trump rematch. yes, it is. when the state of the union message is over tonight, we should have a better idea of whether biden's capable of debating. that will be my take at the temperature of the hour. president biden's expected to tout the his economic achievements tonight, but fed chair powell says the inflation fight lives on. edward lawrence on that. he's got a report next. ♪ ♪

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stuart: tonight the president's expected to tout how he has helped tame inflation. however, fed chair powell says the fight is far from over. edward lawrence with us. what exactly is the white house saying about inflation,'d ward? >> reporter: stu, the president now blaming inflation on companies again. now for the state of the union address, the president will highlight what he calls historic achievements. the president will talk about jobs that he's created but use creative language. he'll mention he created 14 million jobs when the truth is he, the economy added back all the jobs lost in the pandemic and has created 5.4 million jobs. the president will also repeat this sentiment from earlier this week on inflation. reason. listen. >> wages are up more than prices. unemployment has reached hiss to havic lows -- historic lows. families are finally getting a little breathing room. prices are still too high, and they shouldn't be this high. that's why we're going to do everything we can to keep lowering costs for hard working families. >> reporter: the lowering

costs sounds good but affects a smaller grape of people like insulin at $35. only those on medicare part d and and only part b if it comes from a pump that's covered. when he talks about lowering costs, you have to read the fine print. the president will also likely not use the word inflation. the federal reserve chairman on capitol hill again today will say that higher prices are likely here to today, and the increase in -- to stay, and the increase in those prices harder to get in line. >> so what we've said is that the committee would like to see more data that confirm and make us more confident that inflation is moving sustainably down to 2%. >> reporter: the fed chairman does say he sees interest rate cuts this year. the fed has significantly raised interest rates to handle inflation that was pushed in part by all the government spending signed into law under president biden. stu? stuart: who could forget those trillions in government spending. i mean, you know -- $5.8

trillion. stuart: there you go. adam johnson, if biden says inflation is down tonight, do you think voters will buy it? >> no. no, because every time we go to the score -- store, we can see inflation is not down. you have to be sincere. if you're going to make a statement like that, you have to back it up with fact, and he can't. he cannot back it up with facts. lauren: he's in a pickle. economic numbers are holding up, but people don't fight feel like that. so now he's doing the strike force, the in connection step. go after the big businesses, it's their fault. because you have to not be with tone deaf to the fact that people are struggling. stuart: bernie sanders told him to say that. they had a meeting at the white house in the fall of last year and quoted pdr and said you've got to go after them -- fdr. >> that's why congress keeps hauling in the magnificent ceos because follow money, go to where the money is, right? the banks, they go after the big banks. lauren: final thought. in my opinion, this is the most

progressive president we've ever seen. he's listening to bernie sander- >> right. and elizabeth warren. lauren: why can't he get young people to the be enthused about him? stuart: that's a strange thing. all right, adam, thank you very much for joining us. all good stuff, we appreciate it. check that market please. dow's in180. nasdaq is up 137. that is .86%. pretty good green on the board this morning. how about the 10-year treasury yield? where is that this morning? it's on the downside. 4.08%. that yield has been coming down gradually for the past couple of weeks. the price of gold, i think it is an all-time high, $2,161 an ounce. bitcoin, we had it at 66, 67,000 earlier, touched 67 grand right now. oil, shying away from $80 a barrel, back down to 78.27 nat gas still well below $2, $.90. a gallon of regular -- 1.90. no change for deals, that's at

$4.05. still ahead, texas congressman hip roy says you won't hear biden talk about laken riley, so what does he expect to hear? he's on the show and we'll hear from him democrat donors sounded off on the uncommitted problem for the president. ari flyer takes it on. and north face offers a discount outkick's clay travis will have at that. 10:00 hour is next. ♪ ♪ ♪

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