solution for healthcare, nope, obama is a tragedy for americans, that is my two cents more, and tonight's willis report, thanks for joining us have a great night. lou: good evening thank you for being with us, it has been a day of drama on capitol hill. on wall street, and at an undisclosed location in the world, possibly china, perhaps russia or in south america. whereabouts of nsa leaker, snowden, still unknown tonight. we'll bring you up-to-date on the very latest development in the so far futile search for thosthosesnowdesnowden. and federal reserve officials started sounds what sound very

much like the retreat from last week's hawkish signals that fed would slow its stimulus program by the end of this year. but the "gang of 8" on capitol hill, has earned top spot on this show tonight, moments ago, the senate cleared a major hurdle on a controversial border security amendment, a amendment that "gang of 8" members predict will sway enough republican votes to pass the immigration reform bill. 15 republicans, joined with the democratic caucus, giving the senate more than enough votes to evoke closure on amendment authored by republican senators, bob worker of tennessee, and john hovan of north dakota, that vote closing just moments ago, arging that amendment requires 5 security triggers to be met before millions of illegal immigrants receive green cars, 700-miles of border fence to

becombecompleted. doubling size of boare boarder l to $40,000, and adding thermal imaging unite vision and drones to border, and everify implementtation and a ent try and exit tracking system for visitors. >> if you are concerned about border security, thisment in is onment inamendment is one you s, certainly, it would not be this amendment. lou: not on the floor but worker and hovan experiencing push back from their own party, jeff sessions, did not buy the future results of those triiger, written into the bill. >> the substitute does in the

change the fact that no reduction in illegal immigration is ever required. does notthave a result or aspect to it. lou: senator horan will join us in moments to give his defense of his border security amendment. >> moving forward, senate leader harry reid looking to get full gang of 8 bill on the floor by the end of this week. senate's top democrat earlier claimed thattthe bill has necessary slow thees saying quote ---votes saying quote, the immigration bill will pass with both republican and democratic votes, as long as senate has graham and mccain, you can get o boat it, obama administration struggled tonight to bridge to justice edward snowden. obama administration finding great difficulty and little help from other nations as snowden reportedly fled hong kong to fly

to moscow with destination unknown as he searches for asylum with aid of fellow leakers, weekers, wikileaks, eds the latest for us. >> reporter: president obama has faced heat for not weighing in more forcefully the snowed know the snowden case, he spoke on it briefly. >> we're following all of the appropriate legal channels, and working with various other countries to make sure that rule of law is observed. beyond that, i will refer to the justice department. >> reporter: up to carn to declare that administration believes that snowden is a fugitive, as carney tried to shift blame to china. warning president should, risk.

>.>> it was a choice by the government, to release a fugitive despite a valid arrest warrant that decision has a negative impact on u.s.-china relationship. >> reporter: republicans insist it is mr. obama who looks weak since president the of china and russia are not worried about defying him. >> we could be a lot stronger this guy is with the enemy in the know me camp, and we're letting him go. >> is administration embarrassed now you can't track him down, a cat and mouse game. >> i have been clear about actions that we've taken. and the our assessment of the fall ruscfailure of authoritiesg kong to act to a arrest. >> reporter: carney said it is a sit back in the u.s.-china

relations. >> they were positive, constructiie, wideranged, and successful. >> reporter: as for russia, the obama-putin meeting last week of frosty, republican lindsey graham callednoithe snowed know case a retest of the relations, saying if for those en i snowdel on russian territory, i urge your government to apprehend him and turn him over to u.s. authorities headley. white house officials revealing they were in contact with authority in hong kong june 10, they said they got an act account aacknowledgment on junen on june 21 they were asking for more evidence, a big black eye for this administration, they are trying to get him and they can't.

lou: thank you, ed henry, fox news chief white house correspondent. returning to the immigration debate, senator jeff sessions, who fought against the gang of 8 proposals are months, accused senate of rushing to vote today on legislation amid a late day push o modify. >> had is a vote that afternoon, on to give majority leader reid precedal control of the debate on a 1200 page substitute, who00 pain more than bill we were looking at last week. and that no one has read. lou: joining us now, coauthor and sponsor of the hovan -cork are amendment, an amendment democrats hope will attract a

sizable number of republican votes when full measure hits the floor by the end of this week, joining us now senator john hovan from north dakota, welcome and congratulations on advancing your amendment. and your thoughts now about what lies ahead. >> lou, my focus in this legislation to secure the border, this is about securing boarder with 5 different triggers, you mentioned them. comprehensive plan with latest technology. everify system, electronic entry and exit system at all international airports and sea ports, that is what i have been working on, that is amendment we put forward to, it is actually about 120 pages, the underlying bill is 1100. it is about focussing on border

security. lou: about 10% of the overall measure. and what comes into play, as you know, is whether or not it will be effective and whether the triggers will work, there is -- at least as i have read it -- still no role for anyone but administration to decide whether or not there is a secure border. that is kind of tough for a lot of these republicans to swallow. how do you respond? >> understand all of these things are triggers. there is no green card, no law full permanent residents status for anyone that has entered illegally, until all of those triggers are met. and with -- we have a $4.5 billion comprehensive strategy edge plan that must be deployed. that is written in with the

senors, and radars, and drones, and planes, and the fin and border agencies, to make sure that bored ser secured. e-verify, and the entry-exit systems to design if people are here, when people come in, we make sure they don't over stay their visas, and require enforcement against people who do. that is why cbo came out today, and said, not only will it reduce illegal immigration, but it will help revent the visa over stays which is 40% of the problem. lou: if i may, the numbers 25% of illegal immigrants entering, that is on -- who would be affected by this legislation. >> lou, no. that is the underlying bill, that is why it is clear we need these kinds of amendments we put forward to secure the border,

that is the underlying bill without our amendment. lou: let me show new the same report, what congress budget office said, although cbo cannot predict precisely estimate the impact on population provided committee approved version or proposed amendment, the agents expect amendment would fur reduce annual flow into u.s. under the committee approved bill, that is a lot f words to say, they don't know. >> if i may -- >---->> the uncertainty, associd with future population flows under current law as approved by the committee or the amendment

is very great. you tell me, how i can divine much that is specific authoritative or reliable from what the congressional budget office said, if that is the case. uncertainty is very great. >> two things, first, the llst part you are reading relates to financial aspect they talk about financial benefits that come with comprehensive immigration reform of all most a trillion dollars over next 20 years are still at play. that is what uncertainty refers, to if you look in middle of the report, it says a significant reduction, as well as making sure we fine and prosecute them so we don't every state visas. lou: senator, it says, precisely, the uncertainty, if we may put it up again. >> i understand that is in there. lou: i want audience to see what

we're talking about. uncertainty associated with future population flows under current law, as approved by the committee, or the amendment, is very great. we go back to basically what is a waiver of any assersion of authority on these estimates here from the congressional budget office. >> lou, they are talking about the financial impact of the number of people that come in to the country lawfully, because it affects our economy growth. that is what i was saying, okay? further more, not only do they say significant reduction nilling welling well -- in illel immigration but all systems we put on border, including radars, and sensors and video to trrck and have metrics on whether we stop the flow of illegal immigration across the border,

that is what we're working to do. lou: not for as a moamentz d ho- moment do i doubt your sinisterty, but i have to bring history, congressman hunter, father of current serving congressman, brought forth egislation in 2006, to build 700-miles of fence on the border, we have 36-miles of that 700, the language of congressman hunhunter legislation was 700-ms of fence shall be built. period. again, best of intentions and strength of purpose, and high-values, the fact is that some administration, and previous administrations have done everything they can toodeep the border open. it seems to me, in saying that

congressional budget was on the has only 25% of illegal immigration will be stopped by this legislation, and whatever your amendment is to that it is still, frankly, too little, when we have a proposition that i think you will agree, there is a -- that works, you cannot reform immigration law unless you control immigration, you cannot control immigration if you did not control the borders and ports. >> we agree. we agree we need to control the border. that is what we're trying to do. no that is why we that have build the fence but also triggers there is no lawful permanent status until that is done, i agree, we have to find a way to isic cur economy isure t- secure the border. lou: thank you, senator. >> thank you, lou.

lou: we thank you for your time. now to latest on irs scandal, danny, new head -- i think he has been there under 20 days, new head of irs today released a interim report oo agent's targeting of conservative groups inner witner with a full's repod seniors involved with the targets have left the positions, and agencies would make it ease consider for groups to b obtain tax exempt status. tte use of so-called, be on the look out list will be suspended. he admitted that the irs has continued to use those lists until as recently at last week. he is set to testify before the house ways and means commity

this thursday. >> is this the end of days for affirmative action? supreme court and the case of a white woman rejected for college admission in texas. >> shannon breen has our report, coming up next. with the spark mil card from capital one,

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lou: on wall street today, stocks finished lower but well off their session lows, dow, posting 11th 200 point swing in last month. finishing day down 140 points, s&p fell 19, and nazdaq off 36. volume on big board still heavy trading 4.6 billion shares, gold falling 15-dollars, to $1277 an

ounce. a half on the day, just aboveand 95-dollars a barrel in bond market. yield to 10 year rising to 2.5%. and president obama to deliver a big speech onnclimate change tomorrow to outline his plans to cut cas carbon emissions from existing power plant. the impact it would have on coal producers marked a big sell-off on coal stocks today. supreme court today released opinions on two major casing affirmative action. and president obama's controversial use of recess appointment to the national labor relations board. fox news correspondent shannon

breen with our report. >> reporter: supreme court released much antistated opinion on a tomorrowtiv affirmative ace case remains unresolved. a white applicant, fisher, sued after she was denied admission, sends case to lower court, justice kennedy wrote, strict scrutiny imposes on the university the burden of demonstrating before turning to racial classifications, that available, workable erase- >> opponents of use of race in college admission believe its may be delayed they have a path it victory. >> high hurdles for universities

and colleges, must be overcome, if they intend to continuusing race preferences in their admission policies. >> i am confident that ut will not be ale on use race in the future. >> reporter: we're still awaiting 6 opinions including those on voting right act, and same-sex marriage, and court announced it will take up case of president's so-called recess apoint ament to the board. finding that senate of the not in recess at the time they were made. the white house however is predicting victory. >> we're confident this president's authority to make recess appointments will be upheld by the court. >> it will be heard in the fall, with another affirmative action

-ase, which bans use of race orientedder in admissions and hiring policy at state university. >> thank you, shannon breen. >> and well for weekend box over now, where zombies and super heroes were no match for monsterss "monsters university" debuted in first place, win help keep pixar's perfect streak in tact, every one of their 14 movies has opened in the top spot at the box office. pair announcement zombie elic, "world war z" came in second. and last week's number one. "man of steel" was in third place. up next, gang of 8 members senator lindley gram making -- lindsey graham making wild claims about senate legislation,

we will examine these claims by south carolina senator senator, stay with us. the pursuit of a better life for our children is something we all share. but who can help prepare them for the opportunities ahead? who can show them how to build on your success, but not rely on it. who can focus on making your legacy last for generations to come? that someone is a morgan stanley financial adviso and we're ady to wk for you.

>> militarizing our border. that is gang of eight member center lindsay gramm urging support for the immigration legislation because, according to the senator, it but dry as the border. despite the gang of eight very best efforts a drive througg the legislation, not everyone is buyinn that. opponents said the bill is simply too long, that no one seemed to have read it, and it has been nngotiated behind closed doors and does not come close to doing what has been promised. here are just a few of the examples in contingence. one, border security itself, the amendment promises to add 20 dozen border patrol agents.

but the path to citizenship begins on the one. the agents cannot be hired. 20,000 extras that they cannot that -- starr hiring before 2017 which is quite a twist. homeland security secretary janet napolitano has been given five years to raise the total number of tires to 20,000. experts say the hiring of some many agents could take up to 20 years. and there is the cost issue, as always. according to the congressional budget office the immigration bill would cut the deficit by nearly 200 billion over the next decade. critics say that conclusion is based on washington accounting tricks using social security and medicaid perrot contributions from newly legalized workers to fund spending elsewhere.

it is amazing. foundation reach retirement age the annual net cost to taxpayers will reach $160 billion paribas. now, if those numbers are correct this is not a great idea or deal. remember, it was the congressional budget office that initially projected obamacare would cost 900 billion a rigid years. now as they revise it further they doubled their estimates. these are very early estimates. i think even the congressional budget office would agree. and then there is the little matter of loopholes. the word waiver appears in the gang of a legislation 94 times. you will be given the power to grant waivers? who else?

the department of homeland security secretary general paul tom. she has already declared the borders more secure than ever. we could just save all of this money. the problem is a million people a year are crossing the border. what powers will she have? well, among other things she will be able to makes the construction of the border security fence if she does not find it to be inappropriate use of resources. senator gramm says he sees trouble for the republican party and immigration legislation. maybe he should be thinking about the troubles for this country if it does and its current form. the national security implications and the obama administration's inability to catch at trader on the loose.

♪ lou: the obama administration today urged washington to beg spell edward snowden to return into this country to face the espionage charges. our next guest says the russian prime minister is in essentially thumbing his nose at us. joining us now, former pentagon official, fox is national-security analyst, former ambassador to the united nations, fox news contributor. let me first are with you. he looks like he is having a lot of fun right now at president obama's expense. >> thumbing his nose. at the same time he is taking that old super bowl ring from the new england patriots. he is palming that. it is actually quite tragic. china and russia making fun of them today. thumbing their noses at him,3 tomorrow it is venezuela.

the next day it is other countries. once this starts, it is a cascading effect. lou: china and hong kong made it, as he ut it, a deliberate decision to mail delivery decision to let him leave for russia. that it unquestionably has a negative impact on u.s.-china relations. focusing on the chinese side of this trilogy, if you will. what are your thoughts? >> i think it is a demonstration that the chinese could not care less what the white house says. did we really do all that we could to persuade them not to let stone go? the president called the chinese president, secretary kerrey called his counterpart. have they call their counterparts in russia? when you do not convey the seriousness of your message and you do not make it clear that

there will be consequences or if the other country does not believe there are consequences, it is going to be doomed to failure, which is what has happened. at think we have not just a lack of respect for the president, but real diplomatic incompetence on display. lou: and the national security implications. you know, the biggest issue between the united states and china right now is a cyber issue. sidetracking, espionage. and he said in a very bristly town, you're the ones who are hacking s. you're the ones who were spying on us. we have no proof of that.

is a pattern, and so no one feels that president obama will be tough enough to do anything. they could go to the russians and say to my we are rethinking that policy. we could also go and say, look, you want american help and american technology. you know, we're not going to do any of this. lou: can i say to both of you, my hope, my hope would be that we have intelligence assets sense that we would not need to go through diplomatic channels, but we could exact, if you will, a certain amount of justice on

behalf of the united states that is focused demand will leave it in those terms. thank you very much. thank you. >> thank you. lou: up next on another day of wild swings on wall street. one veteran tells us where the market is headed next. and what about the fed? those guys got kind of wobbly in the knees, and they? we're comiig right back. ♪ ♪

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with premium service like one of the best we do whatever iketo makes your business our siness. od. helping the rld keep proses. lou: well, stocks moving lower with major averages down more than 5% from recent highs. the stock prices. my next guest is not expect deep losses or a full correction. joining us now to tell us what will happen, chief equity strategist for s in b que. good to have you year. i got a kick out of the federal reserve today. they went wobbly in the knees and started talking up, you know, we're going to be fine. keep up in the money.

>> basically saying that they were going to be watching the economy. the economy is not taking up by any stretch. and so it was interesting, accusing those on wall street, looking for witnesses to try to exploit. feral pigs. so what you expect? we will receive the market now. lou: what you expect? >> i think that is a possibility we're getting toward the end of june which is the in the recorder which is also called the window dressing. basically money managers say we don't want to be holding on the stocks that have taken it on the chin.

we head into the quarter. i don't think we will be heading deeper than this 89 percent pullback in all. lou: to another three or 4 percent in there. >> yes. let's face it. we end up with declines anywhere from five to 20 percent every year on average. so it seems like it is something brand new whenever it happens. lou: and empirically we start looking at sales results, earnings here now in earnest. some people are getting a little cautious hear about that. there have been some optimism, some confidence around earnings coming out of this quarter. @%at are you expecting? >> well, s&p expectations for about 04% gain. will we have found is that on average, we estimate in the beginning of the quarter ended

up being light by anywhere from for the five percentage points, so we might be surprised to the upside and see gains of seven to 8%. the only thing that is still disconcerting in my opinion is the expected growth in sales or revenues which is still pretty light that only one-half of 1%. lou: we have been fighting that, haven't we, for some time, topline growth. it has been tough to find in percentages we would all like. >> exactly. and in the beginning of the reporting time frame for the first quarter was estimated we reccive 4 percent growth. we ended up with one-half of 1%. i am hoping that it does in the other direction as core, but unless we start getting a better picture of the economy, revenues could still be fairly low. lou: as always, good to see you. >> my pleasure. lou: that faces of our president and at putin reminding many of cold war tensions.

far too young to remember the cold war. he will join us to tell us to he wants on our side. stay with us. ♪ >> the president wants to cut carbon emissions, the gazette to the nation's power plants. it will raise the cost of electricity, cut jobs. we are on that story. 915 through noon. ♪ re cd to fly home forhe big family reunion. you must be garth's father?hello. mother. mother! traveling is easy th the venture card becauseou can fly airline anytime. two words. double les! this guy can act wannalay dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing conte and go! ♪ win! what's in your wallet?

♪ lou: my next guest slamming the president's performance at the nsa meeting summit last week in his latest column. he wrote, and a showdown, my money is on putin. in fact allow the negotiating over syria or armor is in, i want putin on our side. he knows this country's national interest and is prepared to pursue them.

we have a president to increasingly lives over the rainbow. joining us now, the author of those words, a pulitzer prize-winning columnist for the new york post, fox is contributor michael goodwin. good to have you with us. over the rainbow. not the complement that i am sure that president obama expected. do you really believe that putin is that superior to this president has -- in foreign policy, pursuing the national interest of the two countries? >> yes, because i believe president obama is not pursuing our national interest and so many ways. i think he has an ideology about how the world should be, and it runs up against the reality of people like putin who don't mess around with theories. they go right for the jugular every time. and we see even with edward snowden being no latest example where they are not afraid of us, they don't respect the spirit is not about affection or liking but ultimately the level of

fear. they have to fear not just that you will blow them up, but that you're going to push back, stand up for yourself. this president does not stand up for america. lou: honestly, i think that the national interest issue that the president and his administration has prevailed on these of the russia, not a single one. and the secretary saying -- now, these are the strong words that this administration responding to the russians, secretary of state saying, it would be deeply troubling if must notify the united states over edward snowden. russian officials say that moscow had no obligation to cooperate. deeply troubling? he thinks that -- >> not to them. maybe to carry and obama, but not to russia. the problem here, it goes back to when the president first went

abroad. he goes and apologizes for america. with russia it is all about reese said. and again, the reset, the implied undertow was camino, we're going to change our behavior. you will change if we changed. in the idea that everything was george bush's fault, so if russia did not agree with us it was george bush's fault. change presidents and russia will agree. well, it has not happened anywhere. so what you have is sort of an american retreat and the rise of the islamic nationalists, putin trying to reassert the old soviet union. china's growing militarily and economically into what used to be our backyard tough. our president is focused on captain trade. he's focused on cutting carbon emissions at home, cutting our nuclear weapons, cutting our military. all of these things we can us at home and abroad while everybody else is gaining thunder. lou: the idea that he would move forward with a unilateral removal of a third of our

nuclear warheads without conditioning precedents for the russians, i have to believe that putin just was about ready to study could not believe his ears. >> did not have to fire a shot. and now unilaterally, and some speculation to the people in washington he say that it looks as though he is shaping up to do it without a treaty, in other words by pass the senate. executive power. lou: this president is becoming -- in the ways of the imperial president, taking it to the level of an imperious presidency. i want to ask you about this case on affirmative action call. the supreme court moving the decision back for consideration saying diversity itself is not a sufficient reason for affirmative action, creating preferences. your thoughts? >> i thought it was a good decision, very moderate. it did not throw out the texas

program. essentially said lower courts have to look at it more rigorously. they deferred to watch latitude to the university and said, diversity is one thing, but you have to make sure that it is necessary how there are implementing it, not enough just to say diversity. lou: i found in all of that process, if you will, the roots of the end of days for affirmative action because, frankly, that process is illogical. the values are not representative of anything which i am familiar with springing from our legal system, our constitution. it is a question of equal rights, and these are not equal rights. let me ask you also, about 30 seconds. to you expect immigration reform to pass? >> i do. i think you will that valley pass the senate. i think the house is going to try to make some big changes, and i'm not sure that in the end the house will pass it or that they will get something that both houses can agree on.

lou: always good to see you. >> thank you. lou: that's it for us. we thank you for joining us. we're joined smart to talk about immigration. thank you for joining is and we will see you tomorrow night, we certainly hope. thank you for being with us. good night from new york. ♪

>> the white house slamming china and russia over handling of nsa leaker snowden, they are smacking us down. liz: welcome everyone, i am liz macdonald in for neil cavuto tonight. u.s. is leaking weak. craig, let's start with you, china, idea that china can protect its civil liberties, that is a laugh and a