right every day this week. keep your streak going good. what is it? lauren: kentucky? stuart: you've been right all this week. i say kentucky too. [buzzer] stuart: four members of the whig party established the republican party, their primary goal to advocate for the abolition of slavery, the first republic and president elected was abraham lincoln. you did well. four out of four. well done. well done. our time is up. "varney and company" will now exit and coast-to-coast, neil cavuto will take it now. neil: who was there a month later? abraham lincoln?

i remember trying to interview him. i was waiting outside. i love this stuff. thank you. have a wonderful weekend. we are following what is now officially the largest it outage in human history. we were saying in the studio these things get bigger and bigger and bigger, you are looking at the fallout from all of this and we are detailing it but it all started, crowds to write, now we are told it wasn't necessarily crowds to write, it has spilled the globe over and a lot of details we don't know and why a lot of flights are still not reasoning a lot of airports still confused and a lot of travelers and those with bank account they can't access, let's get the latest on all of this in chicago at o'hare airport. >> reporter: this is gotten so big that both of the president and transportation secretary pete buttigieg have been briefed, this goes beyond the

airport. there's a massive line for united behind me for people to rebook but this is really about people safety and rebilling, 911 call centers in alaska, virginia and iowa had to pivot to other numbers to keep people safe. some experts say the situation at hospitals is dire, mass general brigham has canceled non-critical visits, the er in boston remains open. the mystically delta, american, united all affected issuing ground stops earlier this morning and some flights are resuming. flight aware says there were 4400 flights delayed into or out of the united states. >> our flight was canceled and we just found out 20 minutes ago. we had already gotten here. we will get there tomorrow. >> reporter: we are told this is due to a faulty software

update related to crowd strike, a cybersecurity company. this is not a security issue or from a cyber attack. george kurtz explained the issue on x this morning saying this was only an issue for their customers that use the windows system. they were hit with the bsod, the quite literally the blue screen of death, it has a sad face on it when their computers crash. how big a deal is this, half of fortune 500 companies used the software and in some capacity they use crowd strike. elon musk came out on x to say this is the biggest it failure ever. neil: it is impossible to peg this on one company or stock. it seems mathematically impossible. it doesn't add up but we will see. great reporting as always.

whoever, whatever is responsible for this, don't know if it will go back to a single software source, these are getting bigger and are reminders whatever the promise of technology, a convenient excuse to say before we talk about the near vona promise of tomorrow, let's talk about the not so failsafe problems now, what do you make of this? >> we are still vulnerable. is not even an attack which i gather the cyberattack looking after this, crowd strike is arguably the number one cybersecurity company, george kurtz, well respected ceo out quickly today talking about fixing, looks like it has been fixed but you see the repercussions. if you have delayed flights for 2 or 3 hours connections can't get done and you see the cancellations, there's a bunch

of that here in orlando, they are paying a price, crowd strike's stock market is down $12 billion this morning so we have short heads rolling and a very big lesson from this. neil: we know you -- we can both remember these incidents when they were few and far between and might have taken out of bank here or there or some obscure company system but now when they permeate they permeate widely and across all industries and across the globe, like it is feeding on itself. >> we are global and when you have so many companies and so many countries involved with so few companies with cybersecurity, herein lies the problem and airlines cannot flying into the united states

from across the pond and i would suspect more companies to show up to compete with crowd strike and make this a bigger thing so not one is dependent on and hopefully, i'm pretty sure they will, crowd strike will be all over this, try to learn from it and make sure it doesn't happen again but leave no doubt, it probably will end will and as i said before, cyberattackers probably smiling right now seeing what they can do to mimic this. >> markets are behaving normally, you're temporarily stunted by this but trading is operating for the most part but it comes at a time as we said at the outset of this where technology and these advanced systems on which we also trade can be compromised and i'm just

wondering, given what's been happening on the nasdaq this week, the dow over the last two days, is it an excuse to sell or legitimate reason to pause? >> it doesn't help the markets especially with technology, when a company like this has this issue, but this is where we are. i remember when i started in this business, i had something that was much different and this morning at 8:30 i could not get into my system. i was worried at 9:30 if i be able to put in trades. fortunately it got back up at 9:00 a.m. . this is really big stuff, so much dependency on so few companies that do the security, probably going forward there's going to be many more and i think a lot of industries, a

lot of countries a lot of companies will spread the risk not just one like crowd strike goers -- but others going forward. stuart: advocacy is a little different but amazing stuff, thank you and you are amazing your self. grady trimble can't get a flight back, he's been following reaction to donald trump's speech, jd fans getting ready for a big rally in michigan. what can you tell us? >> reporter: the rally is in a rust belt swing state where i suspect j.d. vance will spend a lot of time between now and the election. it's notable because this is the first time vance will appear at a rally with the former president since he was selected as his running mate and their first rally, the first rally since the shooting one week ago tomorrow. this one is indoors.

i spoke with the head of the rnc who tells me the assassination attempt on donald trump won't stop them from having these events. >> i had a conversation directly with donald trump, he wants to be on the road and talk to people and get out of hold these rallies. it is an essential part of his being able to communicate directly with the american people. as long as he is allowed to go out and talk to the american people he's going to do it. >> a little more on last night, trump during his big speech attacked the biden administration's policies on inflation, energy, crime, the border, and foreign policy but only mentioned president biden by name one time, and it was an unscripted part of the speech. instead of attacking biden personally trump used the opportunity to call for the country to come to go to. it was also the first time we heard the former president describe the attempted

assassination in his own words. >> i'm not supposed to be here tonight, not supposed to be here. in an age when our politics too often divide us, now is the time to remember we are all fellow citizens. >> as we look ahead to the next several months, what campaign is going to look like. it's interesting my conversation with michael whatley, the head of the unc, you would think rest balanced on bold state s is where j.d. vance is going to be and donald trump is going to be campaigning but they see some other states that could be in play, that includes virginia, new hampshire, minnesota. they even see new jersey as competitive. that would be remarkable if the republicans can pull off a win in new jersey.

neil: they might be getting ahead of their skis. it could happen but you don't want to plan on that. after i leave ponderosa, thank you. edward lawrence following something else very closely. president biden trying to fend off 1/3 us senator on the democratic side saying you got to go, 25 house members butted where it is better at keeping up with this was what have you got? >> conflicted messages about what's next for president biden. 15 minutes ago than mexico senator his the latest to say president biden should step aside, jon tester was the first to say he had to step aside. a very contested race in montana and he says this. i've never been afraid to stand up to him when he is wrong.

i appreciate his commitment to public service and the country, i believe president biden should not seek reelection to another term. a growing number of democrats say president biden should step aside, 24 with whispers from former president obama, nancy pelosi and senator chuck schumer. biden's campaign manager remains defiant. >> we believe on this campaign we are built for the close election we are in and we see the path forward, the president is the leader of our campaign and of the country and he is clearly in our impression of what we built and our engagement with voters, the best person to take on donald trump and prosecute that case and present his vision versus what we saw last night. >> reporter: president biden will be on the campaign trail, close friends of president biden say he's trying to figure out what to do next. he failed to convince democrats the debate was an isolated incident. his last radio interview before

knowing to covert isolation did not help. >> i performed terribly. people are now saying that was only one thing but he is 80 one years old. what happens when he is 84 years old? when he is 85 years old? >> is dealing with that covid. senator martin heinrich came out. in his statement he says this. we must defeat him in november, talking about trump and we need a candidate that can do that. democrats, stage democrats saying get president biden cannot beat donald trump in november. neil: thank you very much on that. i want to go to hans nichols who is so smart and can help me straighten out some things. i always try to play at how would i feel a bunch of colleagues say getting long in the tooth, they actually say

that. how is this going down with the president? every behind-the-scenes report i get a chance to read, he's not liking it, snapping it people, not fond of the way he is being targeted here, you are the problem, not our party or whatever and he is pushing back, where do you see this going? >> let me be clear about what we know and what we don't know. your report is true up to the moment he got a covid diagnosis, he snapped at members of congress who were telling him he needed to drop out in some of those zoom calls. we have a sense of where he is up to and there are some interviews after but up to saturday afternoon with the assassination attempt. post covid diagnosis it's difficult to get a read out what the president is thinking. people are reading tvs the hard to find someone who has spoken to him directly.

everyone should be humble as we report this. there's a lot we don't know. there are sources and that donor home right now, that is a real challenge. a lot of people looking at signals trying to extract away from their but this is fluid and very murky and that is where it stands as of friday midday. it will change into or 3 hours. >> as this stand now, only the president can take himself out, he has to agree to step down otherwise it could still be done but gets nasty and weird. >> depends your definition of a pledged delegate is. president biden thinks all the delegates that are having a meeting on how they do this virtual vote want to make in

the nominee before august 7th, a good 2 weeks before the convention. it all comes down to what you think it means to be pledged. they and defined, they can break their pledges. there's one call when a state pretty conversation, where you blake your project to president biden? there isn't a penalty but as a consequence. that sounds like something i would say to my kids when i don't know what i am threatening. there is a penalty, no penalty but a consequence. it is pretty ambiguous but the delegates can still do a rebellion and that is why, there are 4,000 of them, why the urgent task for the biden campaign, certain task for reporters but for the biden campaign the urgent task is to get a good whip count and know where they are and get an accurate whip count and this work comes back to former speaker pelosi. imagine what happens if pelosi tries to pressure just

california delegation, those are a lot of delegates and that is why some of the state officials coming out, martin heinrich, tester, it's all starting to come down to what will the delegates do. that's why this is so dynamic. julie: the issue is whether any of this makes a difference. swapping president biden for kamala harris, some likened it to redoing the deck chairs on the titanic, divided party will almost invariably fail but that isn't always the case. in 1948 with harry truman who looked unelectable and wasn't going to make it, they were bumped out of his convention and the dixiecrat bag then bolted from the party they were so disgusted, republicans were hollering and thinking it was there's. it didn't happen that way. what do you make of that? >> there's a lot more game to play here. we are 31/2 months out.

if i'm wrong twitter will crack me but there's a lot of this campaign to play out. there's another debate, there are other events that can happen and i take your point, you never want to go into an election divided. the most accurate analogy to me is the gore campaign in 2000 and that is chairs a little division between vice president al gore running for essentially 1/3 clinton determine the actual clinton white house and gore lost the election, he won the popular vote but lost the election and that seems to be the more apt analogy here. >> he didn't utilize bill clinton, sunday morning quarterback. what do you make of that? >> i'm sure there are democrats and the patent that is biden campaign with strong opinions on that. the basic contour of the argument is had he embraced

bill clinton he could have won. there are gore partisans who say he needed to create a little distance. it is hard to both defend a president and create distance from him at the same time and if kamala harris is the party nominee, she will find herself in that pose vision and that's, a skilled politician can walk that fine line. we will see, we are in hypothetical territory, we don't know if kamala harris will be the party nominee but that would be among the challenges. >> always good seeing you, be safe, be well, the dow is still prevailing. we are getting word from democratic party officials they are not in sync with this crowd calling for joe to go. the democratic party will re-dominate biden and harris at the dnc chair, the campaign for president biden said the same cut we don't see anything to change president biden's plans but is going to be campaigning for the presidency that he already has after this.

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lauren: 1 they is the big day the kimberly cheadle is expected to testify verbal renting from the house oversight committee, we will talk to a key player on the committee. hillary on, what is at stake? >> reporter: a lot is at stake. lawmakers have a lot of questions and not getting a lot of answers from the secret service but questions are piling up next bushel blowers tell josh halley the security detail that was assigned to to trump in the butler, pennsylvania rally the majority were allegedly not secret service, whistleblowers with direct knowledge of the event s told him the majority of trump's detail was with dhs's hsi unit, the homeland security investigations unit who he says were unfamiliar with standard protocol.

whistleblowers telling most of trump's security detail were not secret service. dhs assigned plan prepared and inexperienced personnel. in a letter to alejandro mayorkas, whistleblowers, quote, the july 13th rally was considered to be a loose security event, detection canines did not detect written a usual manner. individuals without proper designations got access to the backstage and department personnel did not appropriately police the security buffer around the podium as we learn new details about the shooter, thomas rourke. officials brief lawmakers telling them he had three encrypted overseas accounts and officials have been trying to gain access to them to learn more about it. >> what we know and this was on the briefing we just received, he had three encrypted overseas accounts the fbi is trying to get into.

>> what the mean overseas accounts? >> there were based in the servers overseas, you got to work over there with fbi liaisons overseas to get into them through their authorities. >> reporter: the release of information floor the secret service to lawmakers is building up outrage on the hill. the house oversight committee has called engagement with dhs unprofessional, they resorted to subpoenaing the secret service director kim cheadle to get her to show up monday. she will be showing up there, when previously the dhs was trying to drag their feet and delay the hearing because they said cheadle had travel plans that were conflicted with this hearing but she has confirmed she is showing up. neil: pat fallon is a member of the committee and he will be there to hear from the secret service head.

what do you want to hear? >> i want to know how and and range 20-year-old can figure out the best place to take a shot at leading candidate for president of the united states but the entire secret service can't. that's gross negligence. when you look at the satellite images it is easy, the first building you need to take out is the building where he shot at donald trump. how is it he wasn't whisked off the stage immediately. why was he on stage at all when a person of interest with a range finder, you have to secure the individual before he comes out on stage. and who approved the secretive plan? who was the agent on site that day? there's a lot to learn. stuart: have we learned about

this uranian threat, taken serious a lot to recommend to the secret service they beef up security for donald trump whether that was in place for this event last week? >> she was asked that question on a call and she give us bureaucratic doublespeak that we deployed all the resources available to us. that's not an answer. it is obvious that security was not beefed up. another nightmare scenario, imagine if a foreign nation the state planned this? would have had a different outcome. this was just a lone wolf who didn't have any training to do what he did. neil: i notice as well donald trump wants to resume campaigning. they plan to do so in michigan this weekend. obviously security is going to be important. this is an indoor arena but tell me how you think the secret service should be

readying for that? >> they should follow their own procedures and protocols. this was something i honestly thing could have done a better job than butler. got to make it extra nearly difficult to impossible for someone to successfully shoot the principal. i'm very worried for donald trump's safety and j.d. vance's as well. they have the right every time. donald trump is a candidate that makes himself very accessible. he loves engaging with folks. it will be a big challenge. they better be up to it. neil: planning events next. in campaign season, we watch closely. good seeing you again. i want to draw your at to

mention to this disaster across the globe, not as disastrous as it was but weighing on airline stocks but a couple are coming back, some affected more than others. what interesting is the world's airports, some are more ready for this than others and others saying we might be delaying or canceling flights through the rest of today before we resume activity tomorrow. we shall see. after this. ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow.

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>> you are paying too much. we will reduce your taxes, we gave you the biggest one. we will give you more and it will lead to tremendous growth, we want growth in our country, that's what's going to pay off our debt. next, we will end the ridiculous and actually incredible waste of taxpayer dollars that is fueling the inflation crisis. neil: better than 90 minutes speech, steve more, advisor to the future trump administration kind enough to join us, great seeing you. >> you played my favorite line, that we are going to grow our

way out of this crisis and that's exactly right. art laffer and larry kudlow and others helped for the tax plan together. i was so pleased to hear him say we will make this permanent. neil: a lot of economist friends, not that they are experts but worry about inflation and backup today because of the it shut down. it will lead to higher rates and higher inflation. >> a laughable proposition. monday, all these economists think biden would be better on inflation than trump but trump was president for four years, has a history and the average

inflation rate annually under trump was 1.95%, below the fed target. biden went up to one. one%. average inflation 6%. somebody has to explain to me how economists can reduce from that that biden would be better on inflation than trump. neil: not his fault but i'm just saying. >> take that year out and you have a low inflation rate. inflation rate never went over 2.4% his entire presidency. stuart: you expressed eloquently in the past that would be inflationary. you don't necessarily need inflation but that the worry, these tariffs he's talking about. what do you make of those. >> affair point, not a fan of

those tariffs but on the other hand, if you use the tariffs to reduce other taxes the do harm for the economy, i don't see that as inflationary. on the one hand they are saying there are higher taxes but trump wants to make tax cuts permanent, that will be inflationary. raising taxes and cutting taxes can't both be inflationary. you've known this. we've known each other 20 years. i' m a supply-side economists. when you cut tax rates you increase the supply of goods and services. when you increase production, prices go down. i am amazed so many economists don't get that concept and many on wall street don't understand either. neil: you have been very loyal

with seeing the economy. it is contrary to that. when he says things like he did in his speech last night, he's been through a lot, almost killed last week but he talks about how we are witnessing of the worst inflation we have ever seen and i know i look very young to you but i do remember the 70s, i remember hyperinflation. i remember richard nixon dealing with price controls. it has certainly been worse, a lot worse. why is he doing that? >> can't answer that question. i was thinking about that, you and i lived through the 1970s, inflation rate was 11% back then. that's higher than the 9.2% high biden has had but for most

people, let me put perspective on this. for most people's lifetimes that are a little younger than you and i are this is the highest inflation rate. neil: maybe he meant in recent memory but -- the obvious -- i know you did that. i'm not here to besmirch but i want to know the most import question of all, whether given the 70s you too in a leisure suit. >> got it on right now. i also have the bell bottom pants. did you have those? neil: i don't think i did but i had a leisure suit. >> did you listen to the bee gees? neil: i loved the bee gees. don't get me going on the bee gees. i do a great impression. great seeing you. always enjoy it. one of the most honorable men in the economics profession.

we are getting interesting comments from miss, deleted software from all his systems, what is interesting is crowd strike many argue is behind all this, can't unequivocally do that but cybersecurity company essentially is actively working with customers hit by this outage. musk, don't care what it is, want to that software out of here, microsoft and crowd strike shares are falling. it is down 8%. down about 10%. this add a little bit to that. ♪

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the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. neil: the former ohio congressman democrat who has taken on nancy pelosi, took on

j.d. vance, he calls it as he sees it. i won't holiday mutiny. to get joe to go. i'm not familiar with some of these tracking surveys democrats are using to push into that. the compelling reason someone like you wants to see kamala harris. >> let me say there's a trend happening here, whenever i'm on the show. talking about leisure suits. i'm not sure what's happening. this has been going on for a while but in both parties we are saying before this election got heated up, whichever party

has a generational shift in their candidate versus trump or biden they are going to win 55-45, they are going to sweep, this is before any of the events, the tragedy that happened last week with donald trump. having said that, i think a generational shift, a candidate like kamala harris, who has a pragmatic agenda on all of the issues that matter, that aspirational, talks about what is best about america coming together, being inclusive, helping businesses thrive, how do we dominate ai, how do we dominate the block chain, how do we dominate chip manufacturing and all these industries and make that stuff, whoever can capture that aspirational campaign is going to win. that's a big difference for democrats if we can do that but we need someone who can

articulate it. that's the hard truth. joe biden is a great man who has done some great things but i think it's time to pass the torch. neil: the old man beat her for the nomination. she got chosen as vice president just as joe biden was a lousy candidate for the nomination, got chosen by barack obama. i take nothing from either of them but i'm pointing out if she is the younger saving -- the young and saving disaster? >> like anybody who has a new job three years and, you're better than you were when you started. kamala harris is going to make a better general election candidate than she was in 2020. look at her record as ada in san francisco, look different when she was da than it does now. look at what she did in california as attorney general

for us to have better positioning on law and order, more strength on the immigration issue shifts this race in a big way. neil: you don't think it's too late for her to do that, it will look like the party abandoned her and all of a sudden rolling the dice on her. who is to say she does that and close gaps more significantly if she scores well with young people as donald trump seemed to pick up independent voters and voters who committed themselves your point on all. enough time to do all of this? >> four months seems a like an eternity and many news cycles and trips to key states. those who know about her, this

happens. neil: we don't know enough about her already? if i would or you would, she has been vice president, 3.5 years. >> you don't have the bully pulpit. she's been behind the scenes, that an opportunity too. you mentioned "my take" on taking on democratic leaders through the course of my career. we are in time for a generational change. talking about an aspirational campaign. what are we going to have a candidate? if you listen to bill clinton in 1992 he was talking about a changing world, technology, the wall had fallen in the democratic party needed to step up and lead in the midst of these changes. both parties are locked into

this old mindset, i call it vietnam era politics, toxic, we fight about everything, redshirt, blue shirt, it sucks. if a new candidate can say how do we dominate ai, let's make it work for us, help us be healthier? help us get better educated, streamlined government, this is about reinventing government, those things, how do we manufacture stuff again, if we stay in that lane with aspirational economic message around working-class people, that campaign will win and that in contrast to what we saw last night. neil: you have always been your own man. good having you back in. that is coming up in the next one. in the meantime, the dow is down four points.

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neil: the markets have had a

crazy five trading days. when you think of what they had to digest after the assassination attempt on donald trump saturday. even with the volatility today, the fact is they are very resilient. a lot of tech stocks gave up tremendous gains here, an excuse to sell. a lot of transitioning, moving out of those big names into traditional names, small-company stocks and the like, it is not quite the same momentum we saw earlier but the markets closing out of volatility but more strength than we thought given all the crosscurrents. don't get us started on the president of the united states. "the big money show" is now. jackie: i love you ended on that. the theme is the big rotation trade.