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tv   Varney Company  FOX Business  August 21, 2024 11:00am-12:00pm EDT

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>> there wasn't obama and it was david axelrod and it was september going into october and this election is like a coin toss to really see volatility increase. >> media doesn't seem to be interested in actually saying anything that might be critical of the deputies. >> story is very clear and stressed inflation and growing out of pandemic saving. >> joe suggested getting out and the first person to be on board with kamala harris presidency was bernie sanders. ♪ ♪ stuart: i always like the rolling stones much that was my generation and i like it. check the markets at about 30
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minutes ago, we received news there were 818,000 fewer jobs between the march 2023 and marc. at first markets went up and now mostly down. dow off 70 points. not sure i understand the significance of that, but that's what just happened. show me big tech, please a. mixed picture a few moments ago and still is. amazon up all of 99-cents and nvidia up 33-cents and am, microsoft, alphabet down. the yield on the 10-year treasury. what's happening with that is it dropped below 3.80%. that no doubt was the jobs revision. 739 on the 10 year right now. now this. kamala harris' policy ideas are already being penned. she's outlined some of the basics, and they're not going down well. look at this, in "the wall street journal," the harris plan to lower your wages. the journal says the harris plan to raise the corporate tax rate to 28% would make the u.s. corporate tax rate huer than
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europe or asia. and american companies less competitive with less growth. why raise taxes on businesses when the economy is clearly slowing? look at this, in the washington post of all places, why harris' housing plan won't work. and her plan to build 3 million momentums in your years is not going to happen. the plan to give homeowners $25,000 won't work either. the post says that money would end up in the pocket of existing homeowners and raise prices. her plan to control prices and stop prices for price gouging and criticize them and going for them and 50 years ago and going for them to withdraw and cancel for the crackdown on excessive profits. what is excessive? whatever the government says is excessive. does she think the 1.6% profit
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margin at grocery stores is excessive. harris speaks thursday night and unlikely to be a policy rollout and we should be happy about that since the policy announcements we've seen so far are not going to create a brave new world of growth and prosperity. third hour of varney starts now. ♪ well look who's here in chicago sitting right next to me, dagen mcdowell with me for the hour. >> yes, i am. stuart: look, editorial i did did not include the proposals of taxes that have just been in a capital gains taxes and wealth tax. what do you think of them? >> kamala harris appears to have picked up a lot of proposals that were in joe biden's budget that he proposed and one is a wealth tax on billionaire --
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i'll do my bernie sanders billionaires and millionaires, but good luck clawing -- going after the wealth of individuals when it's a minimum tax. secondly one of the thins that cause sod many people in sill von valley to -- silicon valley to support trump is the unrealized capital gains tax on the relationship. stuart, that destroys innovation in the united states. you would not have a technology industry if you ever did that to unrealized capital gains. and so good luck with her proposing that as well. you go through this proposal and it's astonishing she'd pick up these ideas frankly. stuart: why on earth doing that as the economy slows? raise taxes across the board? >> she's raising the taxes and
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it's the job creators and corporations and deflected blame. stuart: stay with me for the hour please, dagen. now this, house speaker mike johnson, he shrugged off the dnc excitement as just a sugar high. >> what we're witnessing right now is the largest gaslighting operation in history of american politics. they want people to believe that what we're seeing is not actually true and it's not going to work. i mean, i think they're on a sugar high right now and they'll off that after the convention. stuart: all right, kayleigh mcenany with me this morning. is he right, a sugar high and it'll die down? >> speaker johnson is right about the gaslighting and policy proposals, but the sugar high, i think time will tell. this is why i wish there would have been a debate before this moment. 30 days of positive, glowing press with no details attached is a powerful thing in politics. she'll give a speech full of poetry short on pros in two
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days, and she'll come out with a tail wind. this is why it's so important that sooner rather than later donald trump stand toe to toe with her and litigate policy. he'll be doing that on septembe. i wish it would have happened a little sooner. stuart: he can't make her. the media will not try. trump can't make her come out and go face-to-face. i mean, she'll continue doing this so saying nothing as long as she possibly can. >> absolutely she will. this is why the campaign needs to get creative. i love when had he came out and did a press conference and had all of the products there, the cereal, the grocery products, the press say it's gimmicky. no, the press is like what's this, what's this and cover it had. forcing her off message and the way democrats are forcing the abortion issue and trying to put trump in it and he needs to force the economy issue. he's a master showman and i love what he did with the props and groceries. stuart: your his press secretary and hope he's listening to you
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now. >> i hope so too. stuart: we'll be watching you -- you're on outnumbered. >> ambushed. stuart: no, that's my name for the show. outnumbered is the official name. it was never ambush. >> i love it. stuart: see you later, kayleigh. thank you very much. >> thank you. stuart: back to the markets, where are we now? dow down 47 and s&p up 49. ken fisher is joining us. the jobs number down by 818,000. does this tell you that the economy is slowing? >> so, first thank you for having me on, stu. appreciate it always. doesn't tell me anything really important. the quarterly census of moment and wages is reconciled once a year against insurance numbers. now, that's 50 states in one federal government, none of
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which do things very accurately. we'll get revised again and with the final revision in february. people paying attention to these numbers not getting the motion they're not accurate to begin with. stuart: ken, you think there's less uncertainty in the election? i read your stuff and it doesn't seem uncertain touchdown pass me. what do you mean? there's less uncertainty in the election. i don't get it. >> i'll explain. normally in the beginning of the year when there's an e lockerbie bomber, there's one or both of the nominees that we don't know who it's going to b. a lot of un-ternty going through all the squabbling period and people making extreme statements to appear to their base and all that stuff. as the year progresses, you get your nominees, you begin to get a campaign defined on both sides and move through the election
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cycle in september and october, uncertainty false. this year, little in the year and general early presumption with president biden is president trump. and then with july's surprise of biden not running uncertainty as risen. from here as we move through september and october, uncertainty will fall as it normally does as the is campaign gets undefined and stock markets hate uncertainty. it's very simple. stuart: how will the market react to more certain trump victory or a more certain harris victory. >> what i call the fertilizer vethe skin verse and turns to be above average and inaugural year
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below average and elect a democrat in that period, the election year returns to be below average in the inaugural years surprisingly above average and the surprise part is presidents can never do as much as some people hope and others fear. they've got to put up with that annoying stuff that the wonderful constitution set up and tough for politicians to be presidents to do too much or too extreme. stuart: democracy is the worst way for government to access the other options. stuart: back to the market and take ago look at target. up 12%. tell me more, lauren. lauren: raising profit outlook for the year and cut prices on $1500 items driving people into the store and return to growth story and on the back of cheaper prices, that's the theme of the market. and the consumer. stuart: the off price retailers
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are doing well. look at ross stores for example. lauren: new high today, stock's gaining 4% after targets earnings that ahead of own earnings report, which is tomorrow, expect sales to go up by 6%. and ubs in the note says these off price retailers will gain market share because shoppers are sick of paying high prices and they're prioritizing value. stuart: arch resources and that's a c coal miner. lauren: yeah, they're up and merging all stock deal to form a 5.2 billion coal mining giant if this is approved. stuart: okay, thanks, lauren. coming up, washington post editorial board is calling out biden's inner circle for covering up the president's mental decline. what a reversal. we have the story. rfk jr. reportedly weighing a decision to either stay in the race or drop out and endorse trump.
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would his endorsement matter? i'll ask kennedy who's next on the program today. ♪ did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up?
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♪ ♪ stuart: rfk jr. running mate said her team may drop out of the race and join forces with donald trump. mark meredith joins me. how trump responded, mark? >> the former president is
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interested to see what kennedy's political future fortunes turn out but kennedy's campaign is sputtered and close to collapsing and that's the assessment from his own running mate. kennedy was a can dade in 2023 and announced independent bid last october and while he's generated some excitement and curiosity since starting out, he's also struggled to get on the ballot in multiple states and has not qualified for any of the debates so far. now his campaign says it's considering whether it's worth it to keep going. >> to even be contemplating this is tough. it's a really hard decision and we don't come to this moment lightly. we come to this moment because in every single decision we make, first and foremost we want to make sure that we are representing the best interest of health and wellness of young people, children and future generations. >> latest fox polling has kennedy sitting in single digits and popularity under water with 54% of people having a negative view of the environmental lawyer.
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trump, who has spoke within rfk before about this race, told cnn he'd be interested in kennedy's next mo moves and trump was quod saying "i didn't know he was thinking about getting out. if he is thinking about getting out, i'd be open to it". democrats are reacting saying there's not a surprise there could be a kennedy endorsement for trump but at this point, stu, it's unclear where the kennedy campaign goes from here. stu. stuart: mark merri bowl death, thank you very -- mark meredith join, thank you. kennedy is joining me now. trump is open to giving rfk jr. a rolling administration. does it matter if kennedy joins trump? how much votes waldrapp p get out of that? >>-- would trump get out of that? >> it's an incredibly close race in the battleground state and the lead shifted back and forth a bit. if you're talking about a percentage or two in places like arizona and pennsylvania and
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michigan, and you have some working rfk jr. supporters and they find out that their guy is going to be part of a trump administration, that may be enough to shift their vote. i don't think an endorsement does it but being apart of the policy process would be a big mover for some of the double haters that found themselves in the rfk jr. camp. stuart: explain this for me, look at this headline, feral 25 year-olds are running kamala harris' social media and it's working. wait a minute, what is a feral 25-year-old? >> it's a 25-year-old who during the day runs kamala harris' social immediate jaire and at night is an antifa activist. stuart: what! >> i'm kidding. i think of the dogs when you go to aruba or athens and don't have a home. they're cute but you don't want
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to pet because they have tics. stuart: it's a real putdown. >> i don't want west nile so i'm not hugging the supporters but these are the youngs and we don't want to put out a bunch of propaganda but put out stuff that young people like and do the tiktoks and whatnot with the 25 year-olds who have got a couple dozen years on them, but not enough policy curiosity to really want to know what the vice president would do as president. stuart: explain why trump has a vastly greater following on every social media platform than does kamala harris. why? >> he's running 4-1 on some socials including x and went back on x and has 89 billion, she's got 20 billion and outpaces her on tiktok, which is surprising. it's 10.4 to 4.6 for the vice president. and it's a more effective tool
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and can get rid of the opacity and be as transparent and telegraph feelings and insults and policy positions, which the vice president's campaign has been lacking. stuart: maybe it's a sign that youngsters don't follow kamala harris that closely. they're confused. >> i watch a lot of instagram reels and spend two hours looking at eight hours reels of french bull dogs in swimming pools. it's not just 25 year-olds on tiktok anymore. my 15-year-old calls instagram tiktok for old people. you know, which i think is a compliment, i'm taking it as such, but it means that there are more voters getting information from social media than from traditional media. >> what you get from trump is authentic. what you get from kamala harris is manufactured. >> yeah, prepackaged and going out with ted nugin and shooting your own feasant or getting a
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rancid can of pheasant by the sea. stuart: i hope you can come back and be more with us. i love having you with us. >> thank you, stuart. i loving with here and love dagen. >> this is my feral. [ hissing ]. stuart: would an endorsement help president trump? >> yes, what kennedy was saying and if they cold fold him in in a targeted way and make him part of the campaign on the issues where he connects with voters first and so the polling numbers is going for them to post with trump and benefits in the race and benefits kamala harris and look at his position in the race, and he polls votes away and turns out 45 trump, 45 harris and 6% rfk. trump loses 1 percentage in the
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polling and we heard from david the adviser to kamala harris and said we're preparing for a race so close coming down to a vote or two per precinct in those swing states. do you think the one that's bobby kennedy, he likes to take his shirt off and doesn't like to see that. >> i joke but they're trying to position coach walz as the every guy. connecting with that voter base and it's bobby kennedy. stuart: i'm staying out of this discussion deliberately and you made your point well. let's move on. thank you, dagen. now this, protesters interrupted former speaker nancy pelosi during a table of the late show with steven colbert. ashley, what happened? ashley: well, surprise, surprise a pro palestinian protester was in the audience of the chicago
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theater where colbert was taping his show live and interviewing pelosi. watch this. >> it's going to be a great, great election. >> for the people at home who can't tell, there's a protest going on in the audience right now. hold on, young lady. i can hear you. there's a protest. as you can see from the continuing protest out here, that answer is unsatisfying to some people. ashley: someone was shouting we need an arms embargo. they went to a commercial break and pelosi said the united states has a commitment to israel and freeing the hostages but we can't trust worthy children dying in gaza either. that prompted more shouting protests from the audience members to which pelosi responded the only answer is a two-state solution. no one was happy in the end but there you go. these protesters continue to be heard.
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stuart: they do. thanks, ashley. stuart: north carolina about national security and full report about that state. a warning to democrat voters and not to be complaisant. >> this election will be close in some state just a handful. listen to me, a handful of votes in every precinct could decide the winner. stuart: bill hemmer follows the polls closely and how close the race really is. we'll be back. ♪
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what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. stuart: nasdaq is holding on short term orientation a 50 point gain. a key sight technology, lauren. i know it's moving. what do they do? lauren: this isn't a common name but a $25 billion plus company and makes electronic equipment for aerospace and government and best day if four year withs a 1% gain.
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it's up 21% in the past five ddays and higher orders for things like radars and satellites. stuart: macys they're way down today. they are. lauren: double digit decline. customers became increasingly discriminating in what they purchased in the middle of the quarter because of the complex news cycle. how their own finances were going to fair and they held back and after their report card they cut full year revenue guidance. stuart: thank you, lauren. today president trump and jd advvance visiting the battlegrod state of north carolina. grady trimble is in ash bro. what can we -- ashborough.
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what can we expect? reporter: the foe suspended ands is on national security and the they're pick ago different theme and it's billed as messaging seventh more of a rally feel with a big crowd and not a full scale rally and around 250 2500 people packing in to see the former president and his running mate, senator jd vance, the first time the two candidates will appear on stage together this week. as you know, stu, they were in michigan and wisconsin respectively yesterday talking about crime. they expected them to call out what the campaign is calling failed policies of biden harris administration relating to the wars in ukraine and middle east and botched withdrawal from afghanistan. latest fox news polling and see here when we rank issues, voters tell us that foreign policy isn't exactly a top issue for them, but trump does lead harris
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by around seven points on the particular topic. trump is making the case that the world is on the brink of a large scale conflict and that voters need to pick a strong commander in here . stuart: world war ii is dangerous and bad and need the right person to be president. president xi will be laughing. putin will be laughing. they'll all be laughing. reporter: president harris with a slight lead over trump and that's a shift and improvement for the democrats compared to when president biden was in the race and back out here live, i want to note that this is the first outdoor event since that fateful day in butler, pennsylvania when someone tried to shoot and kill former president trump in that attempted assassination.
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you can see some of those secret service protocol changes are in place here. that is a live look at the stage and see in front of the podium and bullet proof glass in front of the podium and behind it. stuart: barack and michelle spoke at dnc and told the crowd to expect a close race between harris and trump. roll it. >> consider this to be your official ask, michelle obama is telling y'all to do something. this election is going to be close. epic. >> our job is to con syringes as many people as possible to vote
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for that vision in the next 11 weeks. it won't be easy. stuart: bill hemmer follows the numbers as close as anybody else does. how close is this race? >> seems to be a coin flip. i don't know where we'll be this weekend or at labor day and a huge debate on the tenth of september. it'll have a major impact way way or the other. i thought that slip from michelle obama was the smartest thing and barack did the same thing. couple thousand votes, couple hundred votes in this precinct or that precinct could determine the state or ultimate outcome. that's porn because they're reminding people, especially the delegates in the room, they're going to all vote. they've got to go home and get out the vote as well. the smartest thing they did last night was to remind people that when you're in a razor tight election, everything matters, you cannot take a chance.
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clearly the barack obama, harvard law school and finance in manhattan in new york and left that job and came to south side of chicago and a community organizer and started his political career. he learned at that time what you need to do to get people organized when you have e lockerbie bombers. he's also a man of sport. elections. he's also a man of sport and knows politics is a question of whether or not you can get more points than the other guy. period. that's the game. >> local barbershop in chicago and asked black residents what they hear of local policies. listen to this. >> everything you're hearing from the democrats are a debate they failed at over 30 years. >> blacks aren't struggling more than any other democrat. we have the highest prison rate and highest high school dropout rate and murder rate. what's in it for us? >> most of us have believed we voted democrat and that's what
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we were brought up to do. you go to the poll and say vote democrat. vote democrat. i don't see no change that they say they're doing. i think it's just to me a whole bunch of crap to be honest. hon. stuart: oh, that doesn't sound good for harris and the black vote. >> really, really good stuff. our polling shows us that when kamala harris became the candidate, they went from joe biden 69% report among african americans to 72-73% support for kamala harris. does that change over the course of a week? do they all come home in the end? we've seen that in previous elections. republicans made a play for the african american vote and doesn't work and does it look like on paper it could? at the moment, yes. you've got time here. you've got time for reliable democratic voters to come home.
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nonetheless i think that commentary and barber shop is very interesting what the guys said. stuart: it really was. >> thank as lot. seeing you all the time from the convention. stuart: university of lincoln, nebraska, closing dei offices. lauren: yeah, the school office of diversity and inclusion dissolved and $320,000 year position of vice chancellor for dei will be eliminated. the university says it has to work right now to increase school enrollment and then have graduates stay and work in the state of nebraska. follows florida and texas that banned dei at public colleges. you know, when you're trying to increase enrollment and the cost of the office is $800,000 of your budget, you reallocate the money. stuart: thank you, lauren. coming up, dhs watch dog says
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over the last five years, ice has lost track of more than 32,000 unaccompanied migrant children. that was under harris' watch. she was the border czar. we take it on for you. in just one month, harris campaign raised nearly $500 million. how does trump stack up against that? madison alworth has the numbers, next. tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours.
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stuart: we just received fun raising numbers from both the harris and trump campaigns and madison alworth has the numbers. lay it out for us, please. >> it was a huge month for harris and walz and the first month with that campaign and you see it in the numbers. look at monthly team fundraising numbers for harris and raised $310 million. that's the amount raised across the campaign, party and affiliated committees in the month of august. this was her first month at the top of the ticket. now, looking at the team for
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trump, harris far outraised him and trump brought in $138.7 million. you look at cash on hand, the difference is not as big there. cash on hand for harris, $377 million while team trump has $327 million. now, harris was positioning herself, stu, as underdog and not the case you see financially especially because she was able to take over the fundraising numbers from the biden harris campaign for reelection. since she was on that ticket as well. they can't coordinate directly with a campaign. stuart: we're hearing about a major super pack donation for president trump. >> yes, a gop megadonor another $50 million to the former president. timothy mellen, a long time gop donor and air to the mellen
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banking fortune gave the $50 million to the pro trump super pack make america great again ink and given a total of 115 million to the group since the start of 2023. that makes him the largest donor to the pack during this psychoand will his single donation of $50 million is going to account for 90% of money raised by the pac in july and it'll be crucial in advertising leading up to labor day, stu. stuart: that's serious money. >> 50 million in one fell swoop. stuart: thanks, madison. dagen, what do you think about all this? >> tell me what trump raised again? this is so far in the month of august, $138.7 that he raised in the month of july roughly with his affiliates, roughly the same amount. if you're steady and rising and listening to the talk coming out of the convention, the dnc and what's coming out of harris and walz, they're targeting every corporation, big and small.
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small businesses, they are the evil doers in this world because the democrats will not take responsibility whatsoever for what has been done in terms of inflation and the cost of living crisis in the last three and a half years. so if you run a business, want to start a business, if you're in corporate leadership, who are you going to give money to? not the people castigating you here and on the campaign trail because they're coming for your money, they're coming for your earnings and idle wealth. if it's sitting in a bank account and they consider you to be super rich, they're coming for it. so who are you going to give money to? i think that that could be the push here from the trump and vance team trying to raise money in the next couple of months. stuart: dagen, thank you very much. back to the market, show me the dow 30, please. say it every time, a sense of the market. i see plenty of green right there. a majority of the dow 30 in the green but the dow is up a mere
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30 points, that's it. bernie sanders says he wants to overturn the supreme court's citizen united decision. he wants big money out of politics. what does shannon bream make of that? shannon is next. ♪ (marci) so, how long have you lived here? and how are the restaurants around here? are they good, bad, meh? (luke) marci, we've gotta go. (marci) i'm sorry. (luke) we've got seventeen thousand more parks to visit. [marci screams] (luke) we bring you the best neighborhood info. (marci) ding dong (luke) homes-dot-com. can i have another pancake?
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stuart: listen to this, a dhs watch dog says in the last five years, ice has lost track of more than 32,000 unaccompanied migrant children. shannon bream with me now. harris was the border czar. how does she answer for this? >> these numbers were shocking and i started digging through the report yesterday and 32 may be the tip of the iceberg. there could be hundreds of thousands of kids mizing. what i thought was interesting and the inspector general went through all the numbers and data and visited more than 10 ice offices and talked to more than 100 officers and found out that even though there were recommendations and changes that were given to them, that according to the ig, those didn't get implemented so people are not doing what they were told to do to stop the situation and happening under the biden
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harris administration, and they're going to have to answer questions. stuart: are they? >> we hope at some point they'll answer questions. stuart: you sure of this? >> i don't know. we're told it's coming. stuart: any thai day now, i believe -- any day now, i believe. >> when the convention is over, door's open. stuart: convention bernie sanders slammed sup supreme cous at citizen's united decision during his convention speech. watch this. >> my friends, at the very top of that to do list is the need to get big money out of our political process! billionaires in both parties should not be able to buy elections for the sake of our democracy. we must overturn the disastrous citizens united supreme court decision. stuart: okay. he wants big money out of elections. he wants to replace with
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taxpayer money, doesn't he? public funding of elections. >> here's the thing, he rightly said, this is something both sides need to talk about. he needs to be careful what he wishes for here. there's big money all over the place and plenty of billionaires that support democrats. if you want to talk about donors making decisions, a lot of people think that's what led to the ouster of joe biden of joe biden off the ticket. donors turned off the spigot and faucet and said if you don't help us push joe biden out, we'll take your money too. donor hads a huge impact on the democrat side of the ticket. they should be careful. stuart: the supreme court thing because you're the lawyer. the supreme court rejected re-instating the biden harris administration new title 9 rule. okay, what does this mean? can you spell it out? >> i can. there are ten states that pushed back on this, this specific lawsuits, and they said we don't like how you're expanding title nine to say all kinds of things related to gender orientation, gender identification.
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how do schools police this? do kids get in trouble for using wrong pronoun with a classmate? does it do to kids participating on gender in biology or more. there was a bit of a slit in the supreme court -- split in the supreme court saying we agree with the lower court putting that all on hold saying the biden administration can't go that far. for now they're all on hold till this thing works its way through the system on the merits. stuart: can i bring in dagen on this? >> the supreme court goes boom on biden and harris. you can go to congress if you want to rewrite title 9. they stood up for women and girls in this country. that's what they did. the department of education cannot just decide what it wants to do with this. thank god for an independent judiciary. >> the way they wrote this language and people dissented on overall decision and sounds like once this goats in the supreme
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court most of the justices agree that dagen said and do they have the part of education going too far and that's what it says. stuart: dramatic i must say. >> i like the sound effects. is that extra charge for that? >> yes. boom! stuart: thank you very much indeed. thank you, shannon. great stuff. >> good to see you. stuart: guess what, it's time for the wednesday trivia question. don't cheat because you can easily look this up. how many electoral college votes does illinois have? 17, 19, 21 or 23? we have an answer for you, and you'll get it when we come back. ♪ ..
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stuart: question. how many electoral college votes does illinois have. ashley, you are first. ashley: i have no clue. number 3. 21. stuart: lauren. lauren: i know pennsylvania has 19 and illinois has the same. it is the largest swing state. dagen: she knows. stuart: i am going to 17, the devil in me. it is 19.
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you got it right. pennsylvania, in terms of electoral votes, not bad. thanks for being with me for the full hour. our show is live through the democrat convention was i will join dagen on the bottom i am at 6:00 eastern. also live from the convention i will be joining her and also jesse waters tonight at 8:00 eastern on fox news. fox business will air full speeches each night. show me the market. dow industrials down 47 points at this stage, the nasdaq holding onto a slim game. that's it for "varney and company". coast-to-coast will start in ten seconds. a little tap dancing to do. i am good for it. the chicago convention. neil is eagerly awaiting my pitch and here it is, it is yours. julie: sound awful.

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