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tv   Varney Company  FOX Business  June 18, 2024 10:00am-11:00am EDT

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stuart: the quality of her voice, title of the song, new york city. we've got green or red. there's nasdaq is down 18 points. show me the 10 year treasury yield, the yield is down 41/4%. oil at $80 a barrel, 80 one 03. bitcoin 65,000. that's where we are. that is the market and now this. 9 days from now president biden faces off against donald trump in the first residential debate. what if a biden has one of
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those senior moments where it's clear he can't do the job. this is pure speculation but the president has not been doing well recently had a major slip would be a disaster for his campaign. democrats need a plan b just in case. they need to figure out how to get him to step aside. top leaders of the party could pay him a call and make it clear he's got to go. first lady jill biden, chuck schumer, nancy pelosi, barack obama, they could see the writing on the wall. his age is showing badly and others are taking notice. senior republicans played a call to president nixon during watergate. he won't leave easily. now he achieved the big prize. party leaders could upset the delicate.
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it would not play well on election day, there's a suggestion to leave biden at the top of the ticket but replace kamala harris with hillary clinton. would that reassure the nation if we knew hillary could get into the oval office? how do you get kamala out? we are getting a little ahead of ourselves. biden has things going for him, the mics have been muted so trump can't steamroll the president as he did in 2020, both candidates standing in one place so there is no awkward movement around the set and cnn is moderating. one thing favors trump, neither candidate can be allowed to have written notes. just a pad and a pen. that takes biden's security blanket. it says something is that the president's cognitive difficulties have gone so far
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that there is speculation he won't make it past the pair first debate. second hour of varney just getting started. a former top aide to kamala harris revealing which vice president candidate would be her greatest threat. >> j the vance would pose the greatest threat to kamala harris. he is an incredible debater. he has a quality that makes him seem that 1% to 2% that might vote that's undecided and has a quality about him when he is supersmart and sharp and quick witted. it will be a challenge to see them face to face. maybe it's just me but he will be the greatest threat. stuart: guy benson in new york
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city, whoever trump pics, very important decision. that person could be easy next president after trump if trump is elected. >> a few months ago donald trump said it doesn't matter who his running mate will be. it's the top of the ticket which is generally true but it matters more than it typically does with two nominees and the younger one is 78 voters will think about what might come next. the other thing, trump understands because he's nothing if not a shaman. the only missing piece of the equation that is different from 2,020 is his running mate. all the other players are frozen in place. this is the x factor which is why i think he loves us doing this type of speculation every day and we will continue to do so and he has to tell us at least before or perhaps in milwaukee. stuart: what do you make of the
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suggestion on the fringe, replace kamala harris on the ticket with hillary clinton? >> i am highly skeptical of that. one of the reasons being there are identity politics problems wrapped up in trying to get rid of kamala harris and she made it clear she will use those, her team puts out leaked stories about they couldn't go the women route but the race route and all that, she's the sitting vice president. it would be to voters a desperate move, we are so worried we will dump the unpopular vice president but keep the unpopular president and replace the vice president with a woman who has already lost several races for the presidency, that would be something. stuart: never seen an election like this. it is crazy. it is wonderful. i love politics. i am intrigued.
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>> one quick point about the debate, the muting of the microphones. everyone saying the advantage for biden's trump can't steamroll him, i think trump self-destructed in the first debate last time. he couldn't stop himself. having guardrails imposed on him could help him because he can't constantly interrupt and it will force president biden to speak more. that's an advantage for trump. stuart: thanks. a group of attorneys general banding together to stop a gag order against trump. come into this. the classified documents case. lauren: jack smith wants trump gags because of inflammatory comments like saying the fbi ordered to usually full force when they searched mar-a-lago. 24 republican attorneys general asked the judge to deny jack smith's gag request, saying trump's right to free speech
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and in this case political speech in an election year must be protected but judge cannon denied their request, did not give an explanation why. she may grant a limited gag order. that's not yet but there is speculation. stuart: thanks. to the markets. a little bit of green, 31 points for the dow, 10 for the nasdaq, let's get to scott she'lladdy. you like nvidia, apple and game stop. why game stop? >> i highlighted that it is not a magnificent seven it is a top three. the narrow market rally. i don't mean to be a debbie downer but it is such a narrow rally, if they trip and fall they are leading the way from
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the beginning of the year, concerned about what that does to the market. people say ais transformative, not quite sure about game stop listening to what the ceo said yesterday. we have a very very narrow market getting too far over your skis, that is what i am saying. stuart: markets are beginning to worry about the economy's health rather than inflation. what your biggest concern for the market and the economy? >> we fed 2600 small businesses close shop. if we continue on that pace it will be 40% more than closed last year, retail sales number, the consumer starting to struggle, discover inflation. we have a problem in this country where 90%, by 10% of
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the folks out there. 90% of america behind. it is one% of the stock holdings. there's a bigger bigger gap as long as we see these targets continue higher. that is not good for the economy when they see the middle class, they are not alone for the ride but they are not on the property ladder and don't have a huge 401(k), that makes the economy weaker, i save this. unless we have a way of getting people on the property ladder or enjoying benefits of inflation, making property portfolio go higher we have a problem. look at a chart of the s&p, you can see from 2008-2009 when the fed become very accommodative, it is almost like they are not
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letting the stock market go down and in doing so are not letting a lot of people get online. stuart: i see troubling clouds ahead. see you later. lauren is looking at the movers. i want to start with micron, very strong again. gain. lauren: all time high for the stock. bank of america has added micron to the best ideas list up 5. 5%. stuart: a very different kind of company, la-z-boy. lauren: i was looking at the retail report for may, furniture sales down one. one%. last i checked, they make recliners and furniture, stock is up 19%. not only did they report better-than-expected results but raised outlook for the year. what are they doing that no one else is doing? the market is frozen to supply interest rates, they are opening new stores.
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consumers are buying comfort. the half -- the recliner and comfortable couch. stuart: check -- lauren: online tutors. stuart: up 16%. i thought a i was hurting them. lauren: shares are down 77% because artificial intelligence is stealing their homework but stock is up so much because they are cutting 1/4 of their workforce putting out a new growth plan and that includes as they say developing a single platform with ai tools. they are incorporating ai not to be hurt. stuart: their own kind of ai. stuart: donald trump set to rally in wisconsin today. his third visit this year. a preview of trump's campaign event today. the white house good-sized
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videos showing the president freezing up or appearing lost. karine jean-pierre claim the videos were manipulated. bret baer will respond to to that. ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪
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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session.
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okay, that's uncalled for. stuart: 46 minutes of business, the dow is up 24, nasdaq up ten points. donald trump is headed to wisconsin, his third visit to that very important stage this year. what is trump's message today?
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>> reporter: donald trump lost wisconsin by 21,000 vote in 2020, he won it in 2016. he is going to hammer president biden on inflation, immigration and law and order. particularly on inflation he will talk about gas prices over one dollar more per gallon than they were when president biden took office in january 2021, also note consumer prices overall in the midwest are up 20%. if things are more expensive in the midwest that is particularly harmful to more than 1 million senior citizens that live here in wisconsin, particularly harmful to them because this is not only 20% of the population of the state but they are often living on a fixed income. a new national marist poll
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shows trump and biden tied among young voters under 45 but trump is up by one points over biden among voters 45 or older. the former president will talk about how the number of police officers in wisconsin has fallen to fewer than 13,000 since 2008, a record low. he will hit on immigration. fox news pulling in wisconsin found voters prefer or trust trump over biden on the issue of immigration by 15 points more than any other issue, the rally comes as new marist poll shows trump and biden are tied in a national two way race, 49 to 49. and earlier fox news poll shows the race is tied here as well. trump is speaking today 20 miles south of milwaukee which is hosting the rnc a month from now. democrats have put up ten billboards for about milwaukee highlighting the former president saying milwaukee is a
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horrible city in a closed-door meeting with republicans but trump clarified those comments in an interview with fox. listen. >> it is clear what i meant, we were very concerned with crime. i was referring to the election, the ballots, the way it went down, was very bad in milwaukee. >> reporter: ahead of next week's first residential debate, politico reporting the former president is foregoing a market debate threat and is instead having informal policy discussions with experts and other senators like jd vance, senator from ohio. now this. the white house says videos of the president freezing up or appearing lost are just cheap fakes. roll tape. >> you called this the cheap fakes video. that's exactly what they are.
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they are cheap fakes video. it tells you everything we need to know about how desperate republicans are here. instead of talking about the president's performance in office, his legislative wins, what he has been able to do for the american people we see these deep fakes, these manipulated videos. it is again, done in bad faith. stuart: bret baer joins me now. what we do on this program is we let the tape speak for itself. that's not manipulation. we are doing the right thing. >> reporter: i think you are right. we've not edited that tape or any of these tapes, we cannot spread them up, not changed them. we've not seen any change in multiple angles of the same video moment. it was not a deep fakes for the
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former president to grab the president's arm and pool him. that actually happened in person. there's nothing fake about it. there's nothing fake about the italian prime minister grabbing the president as he turned around in italy and gave a thumbs up to another skydiver. he pulled away from the group and the prime minister brought him back in. there's nothing fake about him not dancing at the juneteenth ceremony at the white house and seeming frozen. those are things that happened. for the white house to say this is a deep fake or a cheap fake is interesting and it is a moment that tells you how concerning the issue of wage and competency is in the polls. stuart: precisely. if you cannot acknowledge the president's cognitive difficulties you are covering it up. i think that's a national security issue because the
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president's condition is such that we may have president kamala harris at some point in the near future. international security cover-up. that's my opinion. >> people can see with their own eyes and when the press secretary comes out to say something people see with their own eyes to say that is not what you are seeing it is a problem. a political problem. stuart: a cnn -- speechless with trump's gains with black voters. >> look at where it is now. 70%, that's a 16 point drop, not just the president biden is losing ground but donald trump is gaining ground, go from single digits in 2020, 21% and i keep looking for signs this will go back to normal and i don't see it in polling.
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we are careening toward the historic performance the likes of which we've not seen in 6 decades. never seen anything like this. i am speechless. stuart: how does biden get black voters back in his camp? >> good question. they are trying to work on that with more events around the country that showcase but he has seen a dramatic fall off if you look at the polls. polls at this point shifted up and down, not this much. if the republican picked up, 12345 points it would be a significant move. we are talking 20 points here and that would be earth shattering if it held. we've seen traditionally it goes back to the mean a little bit. the former president is outperforming right now. stuart: i wish we could talk about rory mcelroy at the u.s.
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open but regrettably we don't have time but we will be watching you tonight. always appreciate it. dozens of chinese national crossed the border illegally before turning themselves into border patrol. what happens now? will they be released into the community? bill melugin has that report. biden will announce policies that will give protection and work permits to hundreds of thousands of migrants married to us citizens. congressman carlos jimenez deals with that next. this is clem. clem's not a morning person. or a night person. or a...people person.
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(♪) whether you're moving across town or across the country, you can count on pods to deliver when we say we will. which is why we were voted america's #1 container moving company. book your move today at pods.com stuart: one hour into the session, dow is up 5, s&p up 7, nasdaq up one. lauren has the movers including boeing. lauren: dow was down 2%. dave calhoun will be grilled by senators over boeing's safety culture and new claims from a new whistleblower employee. not many are lining up when he's done at the end of the year. you have to turn around this
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crisis. larry hopes there's not many other contenders, they pass at him. stuart: kroger. lauren: time to buy it even though they put a 70% chance on a deal to merge with albertson will not go through. the e-mail says no yield will be the best one forward. stuart: is 6 flags paying a special dividend? lauren: first one and four years upon the closing of its deal to buy cedar affair, those fair, those shares up 7.5%, the date, july 1st. stuart: fox cameras were rolling as dozens of chinese nationals crossed the border illegally into california and gave themselves up to border patrol. what happens now, will they just be released with no real consequences? >> most of them will. two weeks since the executive order in which he told migrants
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if you quasilegal you won't get asylum and you are going to be deported. people crossing in san diego sector don't seem to be buying this. overnight hours where we are standing, at 1:00 am, a lot of men from china and india, more children arriving with adults as well, president biden executive order exempted children. this is a group of 30 chinese nationals encountered crossing illegally, walking in on a railroad tracks. they surrendered to border patrol because they expected be released into the country. a lot of them showing up with paper ids instead of passports, china does not share information with citizens so little we know about them, difficult to vet them and
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30,000 chinese nationals have entered san diego sector since october 1st. that wasn't the only group. look at this video. a group of google you -- colombia showed up yesterday, not walking in on railroad tracks, they brought more children with them telling us they have family across the us they are trying to link up with. others want to work. lastly, to texas, take a look at mugshots, border patrol in del rio said their agents arrested 68 convicted sex offenders since october 1st to avoid crossing the border illegally. of those 68, 62 were convicted of sexual crimes against children, 90 one person. some crimes include multiple child rapists, multiple sexual assaults of children and multiple child molesters and president biden expected to make an announcement today where he's going to shield half-million illegal immigrants from deportation. critics will likely pounce on that pointing to it is another
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factor bringing more illegal immigrants into the country who feel if we can sit it out for a while and lay low. eventually administration will come in, waive a magic wand and give legal status. back to you. stuart: wave after wave keep on coming in. thank you very much. the white house insists the president is focused on making illegal immigration more fair. roll tape. >> the president has been clear in saying we need legislative solution. in weeks ahead, to make the immigration system more fair. to see bipartisan legislation, we haven't seen that. it is important we are with the majority of american people
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when it comes to trying to make sure things are done. stuart: carlos jimenez joins me now. this opens the door for far more illegals to work in this country. >> absolutely it opens the door, a clear signal they keep on coming because the door is open especially if you walk along railroad tracks, just get in and we will keep you there. stuart: is incredible. i'm sure you've seen this, day after day after day, crowds of people streaming across. it never stops. it's really interrupted in a meaningful way. we discussed this before. we've got 8, 9 million in this country. they are going to have to work, they will work whether we like it or not. >> they are part of the economy, the black-market kind of economy, given jobs and they
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will work and the administration is saying come on in and we will do all these things to make this fair. the president claims he wants to save democracy, isn't working in a very dramatic -- democratic way. that would be the message throughout the world. keep coming to the united states and if this president stays as president we need a new president, you are going to see more and more of this not only now through election time but if he has a second term the doors will really be open. stuart: has he changed the face of america forever? >> not if we elect donald trump. donald trump has said he will close the border and those people who came here illegally can look forward to donald trump actually abiding by and
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complying with the law and those who do not belong in the united states do not have iversen -- about asylum claims, the right thing to do. to follow along. stuart: i wonder if you can deport 8 million people. that is not going to be easy. >> easier said than done but you have to follow the law and give a message to the rest of the world. the borders are not open. we will open our arms to people who have valid asylum claims. not just everybody who wants to come into the united states. we need to follow the law. stuart: thanks for joining us. appreciate it. coming up, taylor swift could soon influence economic policy in britain. ashley will tell us how swiftohnot a is affecting england, the surgeon general wants warning labels on social media platforms which will i keep kids safe?
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stuart: taylor swift economic policy and united kingdom. wires they taking cues from a popstar? ashley: it is so powerful, it because is a spike in inflation. and a net worth of $1 billion. what else can taylor swift lay
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claim to? european economies, the popstar's 18 city european tour including stops in zürich, milan, munich, and concludes in london in august. barclays estimates a boost of 1 billion pounds, $1.27 billion for the economy. analysts at jd security say the economic boost forced the bank of england to put up a possible rate cut in september. stockholm, swift answered last month, injecting an estimated $43.5 million into the local economy. the core cpi reading for may came in higher than expected, for the possible reason. can you believe it? europeans can thank americans for a lot of the spending. .
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87%, why? because eu curbs on resale values. according to stub hub the cheapest ticket for the zürich concert was $433. compare that to the cheapest ticket currently available for swift's concert in miami which stands at 1832. as a result, european air travel has skyrocketed. united spikes in the land of munich for swift's shows next month see an increase of 45% more passengers compared to last year. flights to lisbon, another concert venue jumped 25% year over year. you could go on with these numbers. anyway you look at it, taylor swift is a financial juggernaut. by the time in vancouver, canada, in december, in may, staggering get $4.7 billion. stuart: it is staggering. the president may have a jen z
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problem, young voters turning away from president biden because of his policies on israel, climate and tiktok. joining me now, favored guest on this program, social media times who has been here before. if biden bands tiktok he uses the youth vote. >> it is complicated. the bigger problem is young people don't know where biden stands. he has been politically a bit confusing. he says he's an environmentalist but he is drilling. he is super pro immigration but he just reinstated all of trump's border policies, he is a zion estimate criticizes israel more than hamas. it is hard for young people in particular, looking for things in a simplistic way. after four years they don't know exactly where convictions lie. stuart: the surgeon general is calling for warning labels on social media platforms are
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concerned they are harmful for teens mental health. do you agree with that? what a warning label do everything good? everything has a warning label but no one reads them. >> will be like the cigarette bands, kids crying in their rooms the press like the iphone. he has, social media is depressing. and on social media, more than live tv. i don't know if you can put a warning label on life. stuart: you want to be back on this program? >> that is the new world we live in. stuart: another one. the wall street journal got this excellent article, social media influencers aren't getting rich cover they are barely getting by, 48% of creators paid $15,000 or less. what do you make of that?
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>> the ceo of a production company, i would totally be scraping for the barrel like everyone else. i have a couple million followers on tiktok, the joke is nothing, you don't have 20 million, you are not like, those are the people making full salaries. i know people with 10 million followers on social media working day jobs. the economic shift from television to social media has not even doubt for the average person. stuart: tiktok is not going to be banned. >> it should be your it should be sold to an american company. i just posted a video about the lack of news tiktok is willing to allow the audience to see and it was pulled down within seconds. it was called no jews no news, the broader point that america if you try to be pro-america they rip it down. there is something in that algorithm that actually does not want young people to get
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pro-america pro-israel anything, mentioned what is happening with the uighurs in china, that throughout off the algorithm so there has to be something substantial that happens to this apps. stuart: that was interesting. please come again. good luck. a washington post columnist says biden should replace kamala harris with hillary clinton. is that a real option for democrats? we are on it. we are nine days from the first presidential debate. a former cnn analyst admitted the rules in the debate are in biden's favor. brian kilmeade will deal with this. ♪ ♪ and retirement savings. voya provides tools that help you make
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stuart: on the marketing next picture and not much price movement, down just real down 14 points, the nasdaq down, not much price movement. it's time for brian kilmeade who will appear on the screen on the right-hand side.
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the first presidential debate two weeks away, a former cnn analyst says the rules of the debate seem to be pro-biden. watch this. >> i do think it helps biden because trump tries to get you off your pace, pure rhythm, off your game by talking and talking and talking and talking. he struggles more with live performance kind of things than those trump. you can't interact with campaigner advisors during the breaks but you can regroup and figure out what the message should be, how have i done. that is a good thing for biden. stuart: this debate to me is make or break for biden. one slip and he's in real trouble. brian: not so much a slip but a freeze, the mitch mcconnell freeze, he hit his head and was having trouble. that was the good old days when people say i can trust what i am seeing, he froze.
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maybe for a different reason but he froze twice. he wandered off once. that's not politics. that is a factor. the normal debate is two hours, no breaks, now there will be 90 minutes and two breaks. you can't have people consult with you, trump doesn't need consultation, this is what is going to help him, no audience. if the audience is pro-biden going up against trump if he gets angry at things like that. i agree it is a set up to help president biden but oftentimes president biden got bailed out by an interruption. marjorie taylor greene saved him on the state of the union. he loses his way in the copy at proctor and he responded, looks like a hero. now he finishes his sentences, try to define that donald trump separated families at the border, he will say it was a mess when i got here and inflation was 9% when i took over and trump has to keep his powder dry. he will write stuff down, let
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me take you one by one. even though it is set up for him to do well trump will work to his advantage, trump was good interrupting with five people. one on one i am not sure he needs to do that because we got fact against factor. what i worry about is the moderators, jake tapper and dana bash will go january 6th, are you going to accept the results of the election, january 6th, are you going to go for retribution and defend your record, joe biden, that's what i worry about. stuart: washington post columnist has a solution for kamala harris's popularity problem. she suggests hillary clinton should take her place. is that, first of all how would you get kamala harris to step aside? brian: she won't do it unless you make room in the supreme court. if sonya sotomayor steps aside, i need your brilliance at the supreme court for the next 30
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years, that will do it. besides that, unless she decides she wants to be the next governor and doesn't like washington, she's 59, nobody said that. the other thing they keep forgetting, hillary clinton is the most unpopular major political figure maybe in modern political history. she does a terrible play on broadway, people cheer for her on broadway but don't cheer for her in the breadbasket of the country. they don't like her. she is not a moderate. she's not a good person. she hates the military. she doesn't campaign hard. she forgot to campaign in three separate states. she is not the backstop. like it or not, barack obama is popular. despite his transgressions bill clinton if he was in better shape is popular. not saying democrats, she is unpopular. that's a bad move. governor gretchen witmer has more potential, she might make
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people feel better. hillary won't. hillary will make more people vote for trump. stuart: democrats need a plan b and don't have one. all good stuff. see you again soon. still ahead, florida congressman mike waltz on vladimir putin's visit to north korea. riley gains on a judge blocking biden's title ix changes in four states calling it an abuse of power. jimmy failla on senator schumer marked online for gas grill. the 11:00 hour of "varney and company" is next. ♪ ♪
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