the way. quick check of the market the before i leave you. the dow industrials down 90 points as we speak. one quick thing, my thanks to david, ashley, liz, to all of my colleagues, for doing hard work while i was sunning myself neil. neil: please tell me you were clothed. thank you. we're remembering a giant in this world. ross perot passing away at the age of 89. we look back at the career of a third party candidate thought to be going nowhere but got 19% of the vote. all that preaching very unpopular things like deficits and debt. his charts made him a hero. today, we look back on his mission. meanwhile iran is continuing to act up. so is the white house, now ready to react to that. bernie sanders and alexandria ocasio-cortez are calling for a climate emergency no matter what nancy pelosi says. why the head of the epa tells me

there is no need to panic but is he really right? billionaire tom steyer making it official, he is in the 2020 race after all, but could his billions lead to a backlash from democrats? after all remember what happened to the guy who founded starbucks? stocks sliding as investors fear that maybe rate cuts are not a gimme or certainly as generous those rate cuts were thought to be a little more than a few days ago. gerri willis at the new york stock exchange on what has investors spooked. gerri? reporter: really, neil, a ralph of investor worries pushed down stocks this morning. the biggest concern the fed cuts rates at its july meeting. jerome powell may give hints when he speaks to congress tom. strong economic numbers created worry that the fed will back off a rate cut. fed funds futures pricing in one rate cut later this month. chances after quarter point rate cut?

93%. tensions with iran taking a toll as iran threatens to extend the breaches of enriching uranium set out in that deal. meanwhile the u.s. and china are moving tentativelily to revive trade talks. chinese and u.s. negotiators are set to speak this week but investors worry the issues snagging talks yet to be resolved. closer to home apple's shares were reach after a rosenblatt securities analyst downgraded the stock to a rare sell rating. two other wall street analysts rate the stock a sell. after opening lower, the iphone maker shares have risen. neil, back to you. neil: thank you very much. growing calls for labor secretary of the united states alex chaos to go to resign because of a plea deal he arranged with jeffrey epstein almost a decade ago. what do we have, blake? reporter: we have a comment from labor secretary alex acosta.

he just took to twitter moments ago, put out this defense, saying quote, the crimes committed by epstein are horrific. i'm pleased new york prosecutors moving forward with a case based on new evidence. with the evidence available more than a decade ago, we insists epstein go to jail, register as section offender and put the world on notice he was a sexual predator. this is a important opportunity to bring him to justice. democrats are calling for him to resign. the labor department saying acosta will not give up the post. democrats want him to step aside for the non-prosecution agreement he oversaw with epstein and epstein's legal team a decade ago. here is chuck schumer on the senate floor. >> as the "miami herald editorial board wrote this morning, it was not just that acosta failed to get it right in

2018, the evidence suggests he didn't care to. it is now impossible for anyone to have confidence in secretary acosta's ability to lead the department of labor. reporter: kellyanne conway, counselor to the president was repeatedly asked today whether or not the president has confidence in his labor secretary. conway would not answer that specific question. instead she said, that the focus here should be on the accused. epstein, not the labor secretary acosta. she also tried to draw some distance between the president and epstein. >> these charges as frenchry berman said in new york are unconscionable. they shock the conscience. i talked to the president this morning. he has not talked to or had contact with epstein in years and years, over a deck laid at least he said. he metal lex acosta. he is doing a great job.

reporter: neil, back in 2002 citizen trump was talking about jeffrey epstein, called him quote, a terrific guy. he noted how epstein liked women, quote on the younger side. on the senate floor today, chuck schumer also said that the president needs to give some answers about those comments and his relationship to epstein. neil? neil: blake, thank you very much. blake burman at the white house. meantime the rumble this time on the left, alexandria ocasio-cortez, and bernie sanders, they're pushing a climate change emergency declaration. the epa chief andrew wheeler defending what the administration has been doing on this. take a look. 2.7% uptick in green gas emissions from fossil fuel combustion in 2018 alone. i'm wondering whether that start tells you? >> no, it doesn't startle me. last year we had some upticks on

manufacturing which increase energy use, very hot summer, cold winter, we reduced emissions 15% since 2005. we're on downward trajectory. neil: you're doing all this to suggest climate change, that is legitimate phenomenon. is this a man caused one you think needs addressing, is that why you alluded to the data you just did? >> man contributes to climate change, and man needs to address it. the law tell us. the supreme court tells us. we're following the law. neil: so he departs from his boss president of the united states on that very subject. more on that in just a second. to new york city republican councilman, joe borelli, jessica tarlov. the president is meeting with the emir of qatar. they are talking energy, opec, oil, many other things. they heighten up the antigens

iranians. we'll keep very close attention to that. you know, jessica, on the back and forth on the environmental issue, who is doing more to address it. hearing wheeler, he doesn't carry the personal bag and that he does, but he does depart from his boss on climate change. >> i was surprised to see it. it is a rare departure i would say, especially on an issue that is so central to the president's, maybe it is chinese hoax, definitely not man-made. the number of regulations that they have been cutting, i think it is over 80 at this point at fiercesome pace contributing to the climate crisis. that is what kamala harris calls it. i think it is important to have people like that in the administration. to have the conversation that democrats are having what we can do to address it. that is what aoc and bernie sanders are doing with their climate resolution. neil: their climate resolution is something that even party leadership is a little leery of the time being, it could go too far. people will brand it too

expensive. and this friction continues. >> basically you're saying what will happen with this resolution is exactly happened with the "green new deal." i mean all the mitch mcconnell had to do was actually bring it to the floor for a vote to show just how silly and unserious democrats are. this is not about being a champion for the environment. i think president laid out some point yesterday talking about the environment, talking about how to be responsible still allowing economic growth. what democrats want now -- neil: you seriously say the president is champion of the environment? >> i think president is doing, they added 1.3 million-acres of wilderness. you can go down point by point the few things president has done. he is trying to be responsible, not selling out economy for this panic over climate change. imagine if we gave al gore a blank check to do anything he wanted to do vis-a-vis the environment based on his not too scientific prediction we would be all be living in huts by 2016. that is what democrats are after once again. that is what we should prevent. neil: one thing the president is trying to remind people, you can

have it both. you can have solar energy. in prior speeches he talked about wind and all the rest, have it all, jump ball. he wasn't going to favor one over the other. >> did he say that when turbines cause cancer? he said i love solar but i would encourage everyone to watch shep smith's show yesterday, live fact-checking the president's comments on climate and there were a few whoppers to say the least. this climate resolution will go the same way as "green new deal." it is nonbinding. it's a conversation starter. it will feed media narrative -- neil: wheeler in our conversation dismiss ad lot of things that the "new york times" raised quoting agencies that have vested interest. we can go back and forth. >> absolutely. neil: i am wonder whether you think the administration is unfairly maligned on this subject? >> i tend not to find the administration unfairly maligned. neil: that is fox news alert. >> i had not seen the wheeler

fellow. nice to see people are in there. there are moments of common sense agreement. there are things that are indisputable. with we have to follow the law about this. supreme court is clear about this the idea of finding a middle ground when the party's positions are represented by what president trump is saying than what is wheeler is saying here. wheeler is more compromising than scott pruitt is, who was other person in charge of all of this. i do think you come to an impasse democrats feel they have to drop the hammer about this, talking about the climate crisis all the time. not a number one issue to americans, it is an issue matters. neil: an issue pricey to address, depending how deep you get into it. >> starting as jessica said from middle ground when you're talking about a 93 trillion-dollar cost. that is $600,000 per household. neil: alexandria ocasio-cortez and sanders will be espousing? >> we don't know the price on that. only the "green new deal." >> no, look the "green new deal" had a lot of fundamental

problems. democrats will have a problem saving the environment when they're on the back benches in congress. this is not something number with one priority, not number two. gallup had it down to 15. pew had it maybe 4% of people care about this as number one issue going into 2020. this is not an issue that will win back the white house for bernie sanders. it will give him momentum in the democratic primary but not something winning back the white house for the democrats. >> democrats, polling that you were saying was general public. democrats do care about it, more than republicans. that has been going on for decades. it is an important issue to be addressing. people would feel like their candidates for president would be remiss in ignoring this. we have jay inslee running a campaign on climate. neil: that is his whole thing. >> that is his whole thing. i thought he performed very well in the first debate with elizabeth warren. hammering progress they have made in his state because of moving to wind power, solar energy -- neil: i don't know if that is

enough to close the deal. >> it is early. you can never be sure at this time, wasn't donald trump just coming out .02% or something? neil: guys, i want to thank you very, very much. i've been touching on this. i want to keep repeating it. ross perot has died. a lot of young people around don't know hoe who he was, relatives might recall the weird quest for the presidency with nothing but charts and chip on his shoulder, with the notion that republicans, democrats, failed us not addressing how much money is going out versus how much money is coming in. that voice has been silenced. he is gone now, but what he championed should be an issue we should take up now. the idea of living on a budget. how about starting with proposing one? we'll have more after this.

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neil: curiouser, and curiouser, president trump meeting with the emir of qatar as iran is ramping up its nuclear threat. people say it abandoned what it agreed to do with the deal under former obama administration in 2015. amber smith, the reaction we can expect from the white house. what she thinks could be coming from the white house. what do you think, amber? >> well, qatar is a strategic regional ally. we do some serious economic trading with them. they have spent billions in arms sales. i think the most recent one was $3 billion in apache helicopters. they also house over 11,000

troops at aludid. they also have a relationship with iran. i think what we're seeing here is president trump really on a diplomatic effort to secure that relationship and partnership with those that we have in the region, as this sort of iran situation continues to spin up. neil: amber, i have always worried, why should we commit troops and manpower, all of that, when they're in the neighborhood, all of these guys? they would, you know, judging from the pretty bellicose response we've gotten from the arab league, what iran has been up to, let them lead that charge, what do you think? >> well, i think that is an excellent point. i think that is what the american people have been wondering almost 19 years now. we do not want to get involved in any sort of excessive commitments to the middle east again, especially when it comes now to iran. i think what the white house needs to do right now is really

hold the course. what they are doing is working. this maximum pressure is boxing iran into a corner and we're seeing them act out. we've seen them, sort of sabotage and intimidate with the shipping lanes. they were called out for it. we've seen them enrich uranium for 3 1/2% level. they're reaching out to our european allies who decided to stay in the nuclear deal. they are hutting themselves taking this step. now we're forced to choose the united states or iran. now they chose to stay with iran in the terms of the nuclear deal and iran chose to break that. neil: amber smith, thank you very much. i apologize with the breaking news. we'll see what comes with the talks president is having. we're closely following nancy pelosi on that citizenship

question on the census. she says forcing the issue proves the president is racist. >> this is about keeping, you know, make america, you know his hat, make america white again. they want to make sure that people, certain people, are counted. it is really disgraceful.

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neil: how will this all go down? >> neil, there is about a million people in the united states who have removal orders, who have not abided by those orders and that's the pool from which they can choose. and, i don't know who they're going to go after. i don't know where. that won't be announced beforehand, but it is unfortunate it reached a point where it is newsworthy i.c.e. is doing its job. neil: that was top immigration official ken cuccinelli standing by these planned deportations.

we don't know how many will be conducted. we do know it targets the roughly anywhere 650 to 850,000 whose cases have already been ajudicated. they have exhausted their legal limits. they have been told they have to go. whether that is exclusively the group or it is smaller than that, anyone's guess. the president's dhs chief, jeh johnson writes there must be a compromise. he was in obama's administration i should say. north carolina republican senator thom tillis what he makes of all of this. the senator will be visiting the border i believe with the vice president on friday. senator, good to have you. >> good to be back, neil. neil: with jeh johnson there is another warning to democrats you have to get on the stick here, realize, not only is there a crisis, but you've got to be doing something to address it, just welcoming anyone and everyone into this country is not exactly the way to go. i'm vastly simplifying what he

said but what do you make of that message? >> i completely agree. this is somebody with a lot of experience with interior enforcement in the obama administration. when you send a signal to millions of people in central america that you get here, even if you don't have a valid asylum claim, and it is deemed you should go back to your home country, no big deal, you are not going to go, that will make the crisis we have at the border go up exponentially. that is why we have to set politics aside and solve the humanitarian crisis and secure the border. neil: you know i'm always reminded of the law being on your side in this deportation effort as it was with barack obama's when he deported more than 400,000 in his final year. >> right. neil: so there is that but now in this day and age where the migrant centers and the kids, everyone crammed into facilities, they're going to be camera crews following this closely. i'm always wondering if it will be another ilina gonzalez

situation? the little boy who was told in the clinton administration you have to go back with your dad in cuba. he was taken and forced out of his home. the law was on the side of that raid but again, the pictures, the video, was seared in the american public. how do you avoid that? >> well, we can't, in today's modern world where everybody has a camera, everybody, either, really wants to get to the facts or really wants to get a political agenda that is a risk we'll have to take. the fact of the matter is, we have a crisis at the border. if we send a signal that we can't do it because of the optics or because a mistake will be made, when you're talking about these numbers, you're almost certainly going to make a mistake. if 99.9% successful, but we have to do it. if we send a signal that millions more can come, we're already overcrowded in the detention centers. we need to send resources down there. we need to step up deportations

for people who are deemed should go back to their host countries. we need the democrats to check politics at the door to work with a solution to help the administration and end the humanitarian crisis at the border. neil: switching gears, i would be remiss if we go to white house very shortly. the president meeting with the emir of qatar. obviously iran is on the table there as an issue. what do you think he should do? >> well i think the president's maximum pressure campaign is working like the prior segment that you had here. we have got to keep the pressure on iran. what we're doing is working. the iranian people are tired of the dictators, the mullahs that they're serving under. i think they're a peaceful people. their leaders are the problem and we need to make sure, first, that we protect our forces deployed in the region, protect our partners and allies, and give the president a fair amount of latitude to demonstrate that the united states is not going to stand for a rogue nation like iran. neil: do you think, if they

don't get the message, we have no other choice but to get militarily involved? >> i think that iran is, they're always looking for an opportunity to declare a win. i don't you will ever see an instance, so long as iran doesn't take offensive act that you see the united states act first. we have to be prepared to respond, respond quickly to any attack on american interests in the region. neil: senator, thank you very much, senator tillis. the president meeting with the emir of qatar. >> a highly respected man a real leader in a large part of the world, very important part of the world. we've known each oat for a long time, we've been friends for a long time and we're doing a lot of work. they're investing very heavily in our country. they're creating a lot of jobs. they're buying tremendous amounts of military equipment including planes and they're buying commercial planes as you know, very large numbers of commercial planes from boeing and we very much appreciate it.

we'll be signing a document today, a very large transaction. you're going to be invited to the signing. it's a transaction that will be purchasing a lot of boeing jets and a lot of money spent in our country and that means a lot of jobs so we just appreciate everything. we have a great operation, military operation right now in qatar. they built one of the great military bases i would say anywhere in the world. it has been expanded with runways and everything else. this is great honor to work with my friend and thank you for being here. thank you. >> thank you very much, mr. president. thank you very much for your hospitality. as you mention we enjoy a great relationship between qatar and the united states of america. we're doing a lot together. as you mentioned the president, we're signing a few documents today. we are the partnership is more

than 185 billion. we're planning on doubling the number. we do a lot with the infrastructure and planning to do more investment. we host our base and we work very close together. you're invited to see qatar and visit the base at anytime, mr. president. really enjoy the personal friendship with you. thank you very much. >> thank you very much. i will say the basis incredible. what they have done there absolutely, a great place to have it right in the middle of the middle east. obviously it's a very important location. so thank you all very much. thanks? reporter: any reaction to the subpoenas of jared kushner and other members of your administration. >> i don't know anything about it? reporter: are you about iran. how long will you take before you see the iranians -- >> we'll see what happens with iran. iran is doing a lot of bad things. they better be very careful.

reporter: right now -- [inaudible] >> i met secretary acosta, first time i know, when i made the deal to bring him into the administration i can tell you that for 2 1/2 years he has been just an excellent secretary of labor. he has done a fantastic job. part of it is our economy is so good. our unemployment numbers is at record lows. so many good things are happening but the fact he has been a very good secretary of labor. what happened 12 or 15 years ago with respect he was a u.s. attorney, in miami, was it miami? reporter: yes. >> if you go back and look at everybody else's decisions whether u.s. attorney or assistant u.s. attorney or a judge, you go back 12 or 15 years ago or 20 years ago, look at their past decisions i would think you would probably find wish they made did it a different way. i do hear that there were a lot of people involved in that decision, not just him. i can only say this, from what i

know and what i do know that he has been a great, really great secretary of labor. the rest of it we'll have to look at. we'll have to look at it very carefully. you're talking about a long time ago. again it was a decision made, i think, not by him, but by a lot of people. so we'll look at it very carefully. we'll be looking at that very carefully. okay? anybody else? reporter: jeffrey epstein was a terrific guy? >> i knew him like everybody in palm beach knew him. everybody in palm beach knew him. he was a fixture in palm beach. i had a falling out with him 15 years ago. i was not a fan. a long time ago, say maybe 15 years. i was not a fan of his, that i can tell you. i was not a fan of his. i feel badly actually for secretary acosta because i've known him as being somebody that works so hard and done such a good job. i feel very badly about that whole situation but we'll be

looking at that, and looking at it very closely. we're also going to be signing a big contract in a little while. so we're going to see you in a little while in a different room, in a different part of the white house where we'll be signing up a big deal with boeing. thank you very much. we'll see you in a couple minutes. [shouting questions] >> press, make your way out. press, let's go. neil: never say -- listen here? don't let the door slam on the way out. the president is standing by alex acosta, labor secretary, a top prosecutor back in miami at the time when jeffrey epstein was first arraigned, had what some argued was a pretty cushy punishment deal where he could leave the jail he was housed for six out of seven days, continue his work. the president outlined a falling out he had with the billionaire entrepreneur. we don't know the source of that. we do know they were close

friends in the early 2000s. epstein was a member of mar-a-lago, the president's club in west palm beach. but standing by his labor secretary and saying that he is not getting enough credit for the good job he has done as labor secretary. doesn't know all the details that transpired into how he handled the epstein case back in early 2,000s. "fox nation" liberty file host judge andrew napolitano on where this could be going. they're unearthing all of that as you know, judge, what he knew, when he knew it. was this a cushy deal that could have been avoided, what do you think? >> well the cushy deal was not so much 13 months in a state prison and guilty plea in a state court as it was the agreement not to prosecute him in federal court for the federal crimes which were substantial which would have exposed mr. epstein at the time had he been charged, had he not entered into the agreement with the u.s. attorney who was mr. acosta at the time, to about 45 years in

jail. the same time period that he is now exposed to for the charges, the same charges that are now being filed against him that were filed against him yesterday here in new york. the federal prosecutors in new york are taking the position that the agreement that acosta signed not to prosecute epstein only bound acosta and his successors in miami. it does not bind other federal prosecutors. but think about this. there are two teams of federal investigators here in new york on the epstein case. one is the sex trafficking team. one is the public corruption team. now public corruption means investigating a person who holds office for act of corruption. who could that be? it can only be the secretary of labor. we don't know this to be so. i was kind of surprised, jeff berman the u.s. attorney here in new york very candidly on public corruption, don't read anything into it. they don't investigate sex

trafficking unless there is some connection with a public official. as far as we know the only sitting public official with any connection whatsoever to this is the secretary of labor. neil: now at the time, would he have had the power to widen this out beyond what he did? >> talking about acosta? neil: yeah. >> he would have the power to bring all the evidence to a grand jury to seek an indictment. he is probably prepared to argue there were defects in the proofs. the girls might not have been credible. their memory might have faded. if you compare their credibility to epstein's credibility, he was more credible than those. i am just guessing. neil: office welcomed expanded investigation, hinting that he, at the time had no idea something as widespread was the case? >> he should have known and fbi should have -- hard to believe they did not know these event were taking place outside of miami as well when came up with this agreement.

neil: why didn't come up with the nomination hearings. >> it did. he basically said, there is a lot of reasons for not prosecuting t wasn't just me. it was my team that recommended to me, i'm paraphrasing mr. acosta at the time of his confirmation hearings. i looked at the clips yesterday. my team recommended to me there were problems with the proofs. we couldn't prove the cases. we got something out of it. we got him into a state jail. we got him to register under the sex offender act. i don't know what it is called, in jersey it is megan's law. it has a different name in florida. he was registered sex offender. that is the most we'll get out of it. in hindsight that was so incredibly lenient, it was negotiated in a marriott hotel between two people. it wasn't negotiated in a federal office building where these things usually are with many witnesses to the negotiations. so all these little aspects to it are raising antenna like, is there something untoward that happened? was there some wink and a nod, not put down on paper that the

parties agreed to but we don't know about today? neil: so when his office, he himself is pleased new york prosecutors are moving forward with the information they have now, seems to hint he did not have the information back then, he had a lot of it? >> he had a lot of information back then. quite frankly, since then, the law has changed to remove the statute of limitations forever on sex trafficking. neil: right. >> the new york prosecutors don't have a slam-dunk. they have to argue this is not the same case. they have to argue the statute of limitations was not changed retroactively. i don't know how they get over that. neil, epstein flying into teterboro airport, do you think he knew they were waiting for hill? >> you know the associated press reported that his lawyers made a plea deal to the u.s. attorney. i don't know how they could have done that unless they knew he was being investigated. neil: all right. >> he did not appear shocked when he saw them at teterboro.

neil: it is weird. judge, thank you very, very. president will be going back to the white house when he irons out the deal he has got with the emir of qatar. it will benefit boeing, i can tell you that. we'll have more after this. hi i'm joan lunden.

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neil: the markets have ears, don't they. boeing shares erasing all losses when the president piped up moments ago a deal that could involve qatar, that would involve boeing. perhaps a big plane order from qatar, a very big oil-rich kingdom. that we could get the details within the next hour or so from the white house. boeing completely reversing losses that were getting ever so steep after it lost a big plane order to rival airbus. we're monitoring that very closely. meantime a judge blocking the president's rule requiring drug companies to list prices in tv ads. deirdre bolton has latest on

that. reporter: neil, the rule would have mandated drugmakers that feature their prices in tv advertisements. ads a key part of marketing for the pharmaceutical companies. a few sued the government last month to block the proposed regulation. so merck, eli lilly, amgen, a trade group for advertisers brought the suit. lily spokesperson says the company is happy with the judge's ruling. more than likely there is going to be a bit of ping-pong playing here, because the government will continue to fight issues in the courts. trump advisor kellyanne conway says the president is not a quitter. he is very fond of the rule that would compel drug manufacturers to list their prices on tv. she asks, what are they hiding? we want transparency. 88% of voters by the way, favor a government initiative mandating that insurers hospitals, doctors, other providers disclose the costs of their services and discounted or

negotiating at rates, according to a survey. the center for american political studies did it at harvard. it was done in conjunction with the "harris poll.." according to our proprietary research, neil, we remember as we were covering the midterms elections, health care is the number one most important issue, nothing to do with party. this is the one apparently people did vote on, will vote on in 2020. neil, back to you. neil: it is an important one, deirdre, thank you very much. deirdre bolton. charlie gasparino has breaking news from sun valley the annual media conference that gets a whole lot of attention worldwide. charlie, what do you have? >> i'm not arrested yet. neil: that is a good beginning. >> although i see a lot of security around me as i'm reporting. one of the big stories here will be there are a host of mid-sized media companies literally shopping themselves. they are literally shopping themselves here.

lions gate, sony, discovery, univision have representatives here. there is shopping spree for these companies. they are about five billion dollars in market cap. they are all here. here is one problem that they have, i'm getting from people at the conference. there is not a lot of buyers. the firms likely to pick them up, again, from people here, this is all projection, but it is pretty good projection, speculation, are the tech companies. this is the problem with media right now, neil, with cord-cutting, vast industry trends, tech companies have the cash, at&ts of the world don't. they have already, they have already mergerred up. they have antitrust issues, discovery or -- [inaudible] tech companies who are just waiting for these companies, these mid-sized companies sensely to go down in price. i don't expect a lot of deals to actually consummate at this. there will be a ton of talks

here. the head of discovery is here, open to a deal. everybody in media is open to a deal. cbs and viacom will also have a deal at some point a lot of people say. again as shari redstone merges the two companies together she is here. they will look for a seller. so, these are, who will be the buyer? not going to be at&t. it is not going to be some other telecom company. it will not be dish who is embroiled in the t-mobile-sprint merger. it is likely to be google, amazon, you name it, apple, places with the money looking for content but they're looking for the price to go down. what i'm hearing here from sun valley until i get thrown out, neil. back to you. neil: i live for those moments, charlie. be safe. >> [laughter] neil: you are in a beautiful locale. charlie gasparino there. talk of minimum wage could go up and soon on a federal level but that could put a lot of people out of work in the process.

we'll explain how that works after this.

this is about thing, you know, make america, you know his hat? make america white again. they want to make sure people, certain people are counted. it is really disgraceful. neil: everything is racist, right? speaker nancy pelosi, slamming the president over the census, suspecting that maybe what he is really up to is white only america that doesn't keep accurate count of minorities, but the fact is, that when it comes to census questions, a lot of countries, western powers all, ask this very question, including australia, canada, france, indonesia. there is also ireland, germany, spain, the united kingdom. it is just accepted as among the

many questions that are part of one line after another that goes through on far more detailed census questions that we have in this country. the congressional budget office is reporting that 17 million people are going to see a boost to a 15-dollar minimum wage if the feds make it official on a federal level but in the process a million people will lose their jobs. to the national taxpayers union senior fellow, mattie duppler on that. even with that, mattie, people say if we get a net gain for that many, we can deal with the net loss. you say? >> right. so the cbo report out yesterday shows us what the cost is of increasing that minimum wage. you're right, neil, some people say no matter what the cost is, it is worth a public policy change. i would argue otherwise, given what cbo told us yesterday. they told us what we already know, if you make something more expensive you generally get less of it. cbo said if you increase the federal minimum wage to $15 an hour, you will see $1.3 million

shed as a result of that. the distribution of effects of this policy is really important. we talk about how this will help workers, a lot of talks from proponents, how it will help low wage workers. those are the people who actually stand to lose under this policy, because it creates unstable commercial environment. and in turn, the jobless are the ones who their prospects for employment certainly narrow if the minimum wage is higher. neil: so you know, if you think about it, mattie, in a lot of cities and states, i mean jobs go begging if they're not $15 an hour. it is already happening but it is based on market. some states obviously forced this higher minimum wage but ultimately it is just supply and demand, need for workers, they're all competing with each other, with the highest wage to attract those workers. you don't need the federal government strong-arming this, do you? >> that is exactly right. there are two points that are

important. a federal minimum wage ignores differences in communities across the country. great thing about the united states, our job markets look a lot different depending whether you're in california or wisconsin. that is a good thing. look at the general state of the economy. the fact you have a robust labor market now, millions of jobs are open, will force employers to start paying more for jobs, regardless of if there is a federal mandate to do so. in effect because the new minimum wage would create a mandate businesses would have to comply with it, would create pressures otherwise that would really affect workers at the lower end of the spectrum. this stands in contrast what we're seeing right now. workers at bottom 10% seen faster wage increases in the economy than the workers at the top 50%. that is good thing. a tight labor market and robust economy. lack of barriers to employment, rather than increasing minimum wage. neil: i wonder where it goes? it seems after the fact, a number of presidential candidate

who see $15 as a minimum, not the goal. >> that is right. that always question for minimum wage proponents? why $15, why not $100? if we as sign a value for labor, proponents of minimum wage need to explain what the appropriate goal for that? the other thing people should keep in mind. workers are consumers as well. cbo said this will increase cost of consumer goods because businesses have to offset costs somewhere. consumers stand to lose $39 billion in their own income paying increased costs with increased minimum wage. that hits those on the lower rungs of ladder as well. neil: mattie, i don't mean to switch gears, i want to get your take, back and forth over the census question. everything devolves into racist argument. don't mean to get you involved on this one, it is not a racist argument in the united kingdom and ireland, across the globe,

who have similar questions in their own census versions out there. you know dozens, we listen to more prominent ones, a lot of liberals and democrats point to as role models. their role model is it is important to include. we used to include it. it was taken out of the last census. there was no fuss about that, but a big fuss returning it. >> you heard nancy pelosi go for the throat on her criticism of including that question on the census but the fact of the matter is, democrats have a really tough road to explain why this question shouldn't be included it was included at one time before. as you mention a lot of countries include similar questions on their surveys. the problem with the criticism, if you ask most people in the united states whether or not this question should be on the census, they think it is pretty unquestionable, taking survey who is in the country, taking stock who is here legally and who is not. the criticism making sure we have correct data and appropriate data, making sure that people can respond to that,

not feeling like they can't respond truthfully to the census is an important one. that is a question we should be looking at and scrutinizing regardless whether this certain question is included on the census. that certainly has a broad effect in the next coming years, not only social spending programs, congressional distribution for seats in states. a big question that affects public policy in the coming years. neil: one argument, do you think anyone who is illegal will answer that question? you could say that whether the question is there or not. you will not volunteer to fill out a census form anonymous or otherwise. seems like all circulated into craziness. >> that is true. the census, we need to remind people, even though most folks in the united states only see the census crop up every 10 years, the census does hard work all day, all year long to make sure we have the appropriate data to understand appropriate trends in this country.

we understand the protocals in place. people feel they can trust in the system. they feel they can answer the questions truth fully. the more democrats raise the question that it is malicious, rather than an attempt to get right data who is living in the country, the more the stakes rise. the more we're liable to see whether census questions are answered. neil: i think politically we erase the argument when we get silly. we default to racism or default they're evil or the other side saying they're clueless, you solve nothing. that is just me. >> no question about that, neil. as soon as you start to say that the malice is aforementioned motivation for the other side, you have lost the argument. neil: you've done it. mattie, thank you very much. dow down 77 points. we'll tell you why after this.

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neil: all right. one out of five deutsche bank

workers are facing unemployment in these eerie scenes that are similar back to the time of the meltdown, producing a summer bummer for banks that no less than the federal reserve chairman is addressing as we speak. meanwhile, home depot facing a boycott over the co-founder's continuing support of donald trump. he's not really made that a secret but suddenly the word has gotten out. forget about baseball players juicing. is major league baseball juicing baseballs? the second hour of "coast to coast" starts right now. neil: ahead of his two-day testimony before congress, fed chief jerome powell is discussing the health of banks, more or less saying he doesn't think there will be a repeat of the meltdown that had so many of them cascading down and they all needed a big old rescue. he's watching it. where is the fed head at right now?

>> good afternoon. fed chair jay powell in prerecorded remarks at a conference at the boston federal reserve says stress tests need to evolve to safeguard the system, otherwise we risk complacency and a financial system not able to withstand an unexpected crisis. >> banks will need to be ready not just for expected risks, but for unexpected ones. thus, the tests will need to vary from year to year and to explore even quite unlikely scenarios. >> this year, the fed made many changes to the tests, notably subjecting less complex banks to the test every other year. the conference comes just after the fed administered its ninth round of annual tests that show they have enough capital on hand to continue lending to households and businesses through a severe recession. chair powell spoke ahead of what will be his widely watched testimony on capitol hill on wednesday and thursday.

neil? neil: thank you very much. in the meantime, what is more important to investors, it's always a tug-of-war between a strong economy which everybody likes, but not if it means the federal reserve has to postpone cuts to interest rates which apparently a lot more investors like. it's weird, right? fortunately we have a weird panel. actually a genius panel to make sense of it all. talking about chris wilson, former dallas fed adviser danielle dimartino-booth and david munson. that's one thing i can't quite figure. you're strong and you run with that but if it's too strong and lessens the likelihood the fed presumably cuts as much, or maybe not at all in this go-round, then everyone starts selling. why? >> well, i think the markets are spoiled and i think the markets have been spoiled for a generation now at this point, since greenspan started placating them.

i think more to the point, if you are asking the question about whether the economy is strong or not, yes, the strong headline figure that came out friday morning, the strong headline jobs figure, that gives powell cover to not have to raise rates by 50 basis points. neil: the unexpected 224,000 jobs. >> all that. but underneath the surface of that data, things are weakening. we saw job openings come in weaker than expected just this morning and we are seeing things like multiple job holdings rise to the highest level since 1997. there are things that even the fed's own model, the new york fed's recession probability model hit 33% yesterday and it made all the rounds because the last time it was that high was 12 years ago, when we were in recession. only one time in the late 1960s was the indicator this high and the economy not in recession. so powell and his colleagues at the federal open market committee really have to start contemplating whether the economy merits on its own the rate cut, not whether or not the

markets are throwing a hissy fit for it. neil: all right, but you're still kind of doing the market's bidding, aren't you? >> yeah, you are. i think she's exactly right. this goes back all the way to greenspan. i have been talking with clients about that famous cut in october 1998 out of nowhere. i don't blame the markets. i don't blame investors. they're spoiled because they have come to rationally expect the fed will be there but in this particular case, there isn't a logical scenario, 3.6 unemployment, 3.1 wage growth, substantial improvement in labor participation force. at the end of the day, unless they are going to rationalize it with this so-called insurance cut which is a term i prefer to never hear the rest of my life, at the end of the day, it only makes sense. i think a quarter point, not half a point in july but i think they will do another quarter point in september, and it's unfortunate because they have to get off of it at some point. they either lose dry powder when a recession comes or --

neil: they don't have a lot of wiggle room. >> that's right. neil: separately, the issue of pressure from the white house to keep saying you guys are losers, i regret hiring jerome powell in the first place, if i could fire him or demote him, i would in a minute. larry kudlow today saying no one's thinking of canning the guy just yet. i mean, it's getting whacky. >> well, the president understands that his best hope for re-election, best bet for re-election is a continued strong economy. so he feels -- neil: the economy is strong. >> the economy is strong -- neil: data points notwithstanding. >> i think the concern is if you don't cut right now, does that give the opportunity or the excuse to do a raise later. i think that's what he's guarding against, because it is as you continue to chug along and create jobs, the average american doesn't pay attention to the percentage recession probability out of the fed. they pay attention to whether or not they've got a job and whether or not their paycheck allows them to go out and spend discretionary income. i think that's the secret

between maintaining that between now and november 2020 is whether or not donald trump gets re-elected. neil: leading the wild card of iran out that we could go to war in the middle east and the world ends, hopefully none of that occurs, the more practical immediate concern is china, right? so if we get a deal with the chinese, aren't we further pushing back the need to even think about cutting rates? >> well, i think that that would certainly be how the markets would view it, though who knows if they price out that rate cut because now everybody absolutely wants to have it. but again, if you talk about iran, if you talk about china, these are overarching -- there's just huge uncertainty weight on the market and they really do need to be lifted because every day you wake up and you're like okay, what's the tweet going to say today, what's the president going to say today. neil: this is nothing like that. this is just -- >> no, but i think given how complacent investors have become, they are uncomfortable even with the little bit of

volatility that we have seen in trading the last few months. i think they just want to see hockey stick. they just want to see every day the market closes up, period, move on. neil: maybe what they're looking at is what's happening at deutsche bank and the fear, even morgan stanley, what happens there, that's endemic of what the world is looking at. i thought that was a mistaken leap, the impression seeing these guys walk out of the building with all their belongings, tell me that doesn't harken back to images from the meltdown. do you see that as a legitimate threat? >> not in something that should be impacting monetary policy. you can't set monetary policy around tail risk. at the end of the day the european banks are effectively zombie banks and have been for a decade. this is a threat that has been there since at least 2011 that we have known about. the deutsche bank -- neil: you need deutsche around, don't you? >> you do.

this is really the kind of unfortunate measure to have to be taken to keep it around although i keep asking do they have to lay off 20% of their work force, how come they did a lease last year to the most expensive building in manhattan. neil: good question. that's a very good point. do you think the financial institutions, obviously the fed chairman was touching on it, that they are in relatively good shape? you know, you can't really plan insurance or otherwise for something like what happened more than a decade ago, but he's more or less saying stress test, all of that. these guys are okay. >> i think your point about a decade ago is an important one. when we look at, i think you have to separate out u.s. banks versus those in europe. it's unclear whether deutsche bank is the first casualty of a new global downturn that may be more centric in europe or the last casualty of the global financial crisis from a decade ago. that to me is where the concern is. it might be the case that deutsche bank just tried to hold on too long in a way that they were able to survive through what a lot of global banks

adjusted and they didn't make the same adjustments. neil: we will get into the campaign of ross perot. no third party candidate in our nation's history ever garnered that amount of attention and all throughout, experts were dismissing what he was talking about, talked about the debt as a bummer, no one will care no matter how fancy your charts are and you are too short and look too weird. that was then. the impact of this guy from texas who became the billionaire warning how we are throwing away billions more, after this. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could

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washington has created for our children and our grandchildren. the american people have no interest in paying more taxes to increase spending in washington and to continue increasing our national debt. here's what you're going to do. you're going to sacrifice, pay more taxes, the budget will not be balanced, the debt will not be paid down, and spending is going to go through the roof. neil: that very stern warning garnered 19% of the vote in 1992, something that no third party candidate has ever done in history, and something his son would tell me years later was a game changer. >> my father's very focused on the debt, as you said. my father's a great visionary. he was early on this subject. i wish we could have fixed it 20 years ago, it was a $4 trillion problem. it's now a $16 trillion problem. we have to fix it now. let's go to work and build this country, pay the debt off and have a great future for our children. that's what my father wants and

that's the game plan. neil: we have chris back with us, danielle and david. david, i will begin with you on the legacy of ross perot. if you think about it, he did all the things you're not supposed to do when you run for president, bum people out, use a lot of charts and just warn them there's hell coming if you don't get your act together, you would say fail, fail, fail, fail. he damn near pulled it off. >> yeah, he sure did. i think the threats about the spending, the warnings about the spending threat have really proved prescient. it's interesting, even hearing his son talk, i think that interview i did was '13 or '14, he said $16 trillion of debt. neil: yeah. >> now we're at 21 and we are going to be sitting here, it will be 24, $25 trillion in just a few more years. that rate of growth of the debt, i think people would have laughed off and yet here we sit. i think that the legacy on those warnings was very very positive. i do believe that the net effect

to the american economy was very positive around nafta. i think that a lot of the global -- neil: that was one thing he didn't appreciate. he looked at that deal and trashed it, famously debated al gore on the subject. on that, maybe trump would agree with him. >> he would, and a lot of others would as well. yeah. >> but the irony is now that texas is the largest exporting state in the nation and that the growth of the state of texas is attributable to the fact we have this massive corridor along the southern border, some of the busiest rail lines in the world as a result of nafta. so there is irony there. but no, going back to the point of debt, you have to wonder how he viewed the last presidential election and the subject of debt wasn't even brought up by either party. it's as if it's disappeared from the discourse. neil: you know, people forget that, if memory serves me right, he was leading in all the polls before he dropped out and returned and still got -- didn't get a single electoral vote.

i always wonder in retrospect, would have, should have, could have, had he not quit the race, he was leading bill clinton and george bush senior at the time, whether he could have pulled it off. >> we know that a billionaire who never held elected office -- [ laughter ] neil: very good. >> i mean this respectfully, he was sort of donald trump before donald trump. who knows what he could have accomplished if he had his own reality tv show to introduce himself to the american public. neil: you're right. he did grease the skids. >> he talked about the problems, the giant sucking sound from the south. much of it proved prescient. his conversation about spending and taxes. from an economic standpoint, he did almost run to the right of george h.w. bush up until he dropped out and he did kind of alter some of his positions. but yeah, look at a debt of $12 million seems quaint now. $12 trillion, sorry, is quaint now, in retrospect. it is, i think, in a different era and with a different background, he could have, who knows what would have happened if he had run under a party

label. neil: the things, the doubts he had about the original nafta deal are the same doubts that the president had and has with the revised deal. >> i think that you're right, there's a certain sense where he kind of foreshadowed a lot of donald trump. i think pat buchanan did that in some other ways. neil: you're right, yeah. >> i think there was just not the media savvy that president trump ended up having. he became the persona. neil: it's really social media. >> more than 24 hour cable cycle. >> he wouldn't have been able to hear his accent on twitter anyway. neil: the debt issue, i think even he would be surprised, interest rates are staying this low with all that debt. >> imagine where we would be had he been elected president and we would have tackled our debt. would we be talking about china being this preeminent competitor to the united states right now? would china be the same threat that it is now if our financial

vulnerability wasn't where it is and growing? the rate of growth -- >> i actually think it's even more than that. we need china to fund the deficits. we need their dollars coming back in. we don't talk about it. i think it's somewhat a complicated subject for the american people to understand, but really, the subjects are much more intertwined. >> around that same time, warren buffett reached out to me and said we are mortgaging the farm. good way of putting it. neil: i remember one conversation i had with him which we will explore in a lot more detail at 4:00 p.m. on "your world" on fox news. he famously looked and said you got to remember when a country like china invests in you it's just a matter of time before they own you. part of his legacy was worrying about debt. back then it seemed paltry compared to now. more after this. [ sigh ] not gonna happen.

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would you mind passing my book there. once again, that's... and financing is available for qualified purchasers. neil: federal appeals court is ruling today that the president cannot block twitter users. the president has been very

concerned about those particularly critical of him, whether they are really hurting rather than helping the cause of social media, at least what he considers to be fair and balanced news on social media. the rest of course that's negative he deems to be fake. regardless, a court saying no, no, mr. president, you cannot do that. meanwhile, the women's world cup champs are set for a victory lap with democratic lawmakers but not the president ahead of their ticker tape parade planned tomorrow in lower manhattan. fox business's hillary vaughn on capitol hill with more on that. reporter: well, it looks like the u.s. women's soccer team at least has a standing invitation to come to capitol hill by minority leader chuck schumer saying last night he wants to see all the u.s. women soccer stars here on capitol hill and is using that as a push to pressure majority leader mitch mcconnell to bring equal pay legislation to the senate floor that the house passed. >> how about the equal pay amendment that the house has passed?

why don't we put it on the floor of the senate in honor of the women who won the world cup? why don't we do that, leader mcconnell? reporter: megan rapinoe has been pretty adamant about her choice not to visit the white house following their world cup victory. she's said she is open to coming to capitol hill to talk to law makers. >> she would come with us. thank you, chuck schumer, for inviting us out. we are very happy to accept your invitation to come. reporter: we talked the a few lawmakers here today but it doesn't seem like republicans and democrats are divided on this equal pay issue. some senators we talked to today say they are for equal pay for equal work and even the president himself when asked when the women soccer players should receive equal pay says it's a difficult issue, you've got to look at all the numbers, but he isn't necessarily against trying to make things more equal. >> i think everybody should be treated equally in terms of pay.

you do the same work, you ought to get the same pay. but soccer is a business and i just don't know the arguments pro and con. reporter: right now, the white house has not officially extended the invitation to the soccer team but it seems like at least some of the team members are not planning to head to pennsylvania avenue. neil? neil: all right. the other end of pennsylvania avenue. thank you, hillary vaughn. by the way, we are getting some more details on what the president has cooked up with the premier of qatar. they plan to buy a number of boeing aircraft, we don't know how many or whether these are the 737 max, or the 777, the general boeing 777. regardless, an order for boeing planes but we don't know much more than that. meantime, major league baseball seeing a home run surge, maybe because it's fixing baseballs? the all-star with the accusation, after this. ♪ limu emu & doug

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neil: all right. china talks are back on. we don't know exactly when but they're back on. the fears are still on, too. jeff flock at a model railroad company in wisconsin on how tariffs are impacting that business. jeff? reporter: i come to you from middle america, usa. literally and figuratively. by the way, perhaps you see this is the walters company. if you know model railroads, you

know these folks. they are perhaps america's foremost maker of model trains. some of that stuff comes from china and i've got the president of the company here. it's a big deal, these tariffs, this first round of tariffs, one thing. this round of tariffs hits everything from shoes to your business? >> yes, it will impact our business negatively and disproportionately negatively if these tariffs go into effect. reporter: you have to raise prices. there's no way to do anything else? >> our margin structure doesn't allow for us to ignore the additional 25% that's imposed. reporter: but you know, the president would say why can't you make this stuff in america, can't you switch to another maker other than china? >> you know what, we have a very unique product, as you can see, and it has a really unique supply chain and it requires very experienced, highly detailed work that we have

actually worked for many years with our contract manufacturers to perfect and also, we have very small quantities that we have, minimum order quantities. it's very difficult to make what we do anywhere in the world and china has kind of helped us figure it out over many years. reporter: it's amazing, i don't know if you are into model trains, i have some, but this is h.o. scale. look at this downtown. by the way, wisconsin, the model train capital of america, and the walthers company makes all this stuff and some of it is sourced from china. 25% tariff, i know the president talks a lot about china paying the tariff. no, u.s. companies if this next one goes into effect, will be paying the freight as well as perhaps you see a freight train crossing in our way. i should have a sweater on for this. fascinating. >> it's a way to relax and get away from the big world that can be kind of hard to navigate.

these worlds that people are creating get them away from the real world and all of its craziness and allows you to control what you can control which is your little world thaw want to be it. reporter: this is america as we would love it. moving slow and trains. neil: that is amazing. not a beautiful day in the neighborhood. you actually kind of look like mr. rogers. thank you, my friend. reporter: that's my next gig if this one goes poorly. neil: get the sweater and away you go. i appreciate it, my friend. all right. i don't know if mitch mcconnell will appreciate this next guest, but she has captured the democratic party's imagination because she came oh, so close last go-round to taking down the republicans for a crucial kentucky house seat. now they are betting on her to topple mitch mcconnell and become the first democratic senator in the state of kentucky dating back i think to 1992. she's a former fighter pilot, amy mcgrath joining us right

now. we did reach out to senator mitch mcconnell and no one available today. his office is telling me they hope to talk to us soon. very good to have you. thank you. >> good to be here. neil: you are up against a giant. how do you plan to take him on? >> well, as a marine, i'm no stranger to challenges and this is going to be one of them. you know, i look -- if you look at kentucky, it's a very red state, it's a very pro-trump state, but one of the reasons why kentucky voted for donald trump is to drain the swamp, and do things like bring back jobs, to bring down prescription drug prices, to do big things like infrastructure and all along the way, if you look at why he hasn't been able to get those things done, you got to look at senator mcconnell. he stopped them along the way. i think that's my message, you know. if you want to get these things done that kentucky really needs, we have to elect people who care

and want to get these things done. neil: others have had the same goal you've had for better than, what, three decades now and failed. where do you think you will succeed? >> well, you know, i never set out to be a career politician. i served my country, all i wanted to do when i was a kid was fly fighter jets and be a marine, and serve. along the way, i met my husband and we had three kids and my husband, who is a registered republican, we looked at each other in the last few years and have said hey, our country is not in a great place. we need better leaders. i think a lot of kentuckyians field the same way. they are tired of the same leadership, they are tired of the dysfunction in washington. we have a state where, you know, our signature industries of tobacco and coal have been in decline for decades, and mitch mcconnell hasn't really done anything about that. we have a state with the lowest wages, some of the lowest wages in the country, an opioid crisis which is two times the national

rate in terms of overdose deaths. we have had the highest cancer rates and all along, we have had a senator who really cares more about special interests and corporations and doesn't really care about these issues, and i think that's the big thing that people are seeing. that's what's going to be different this time. neil: you know, you have no problem raising money. in your last go-round, more than $8 million. that's unprecedented, especially in a state dominated by republicans. they are very hopeful that you can do that again. but it is an uphill battle. i wonder if it comes at a time when the democratic party itself, all these candidates running for president, doesn't know what it wants to be. where are you in this debate between i guess the far left and nancy pelosi fighting with some of these congressmen like alexandria ocasio-cortez and others who she says, you know, don't represent the party? where do you stand on that? >> well, you know, the internal debates of the national democratic party have never been

something i really cared about, frankly. you know, i'm somebody that again, just wanted to serve my country and frankly, i have never been a very partisan person. i was an independent for 12 years. as a military officer, that was very important to me. i think the focus needs to be on kentucky. so for me, i'm not very concerned about the internal battles within the democratic party. neil: yeah, but if you're elected senator, you're going to have to be, right? for example, on the tax cuts that mitch mcconnell championed, would you work to remove them? >> well, you know, i think it's important to note that the only major piece of legislation that senator mcconnell was able to do when he had all the power was this tax windfall for corporations and the wealthiest 1%. the problem that i had with the tax cuts was not that i am for tax cuts or against tax cuts for middle class. i'm not. you know, i didn't marry a millionaire. i married a navy man. everybody wants low taxes.

the problem that i had was his priority was always corporations. your priority should have been the people of kentucky. he should have made the middle class tax cuts permanent and he didn't do that. neil: but again, to be fair, you can argue the size and scope of the tax cuts but about 80% of americans did get them. i don't know how that percentage breaks down in kentucky but would you tell residents in kentucky i'm going to scrap all of those and start fresh? >> no, i wouldn't tell them i would scrap them all. i would fix it. neil: how so? >> i would give tax cuts to the middle class. i would give tax cuts to the middle class and working class in particular. i think that's really important. neil: take away the ones for the rich and corporate tax cut that was cut to 21%, you would shelve that? >> that's something we should look at. look, those tax cuts that mitch mcconnell championed, you have to remember, they almost doubled our deficit. they increased our debt by $2 trillion. i don't think that's -- neil: you are new to this. you are new to politics. i commend you for saying that.

but democrats had a hand in increasing the debt before this president and the republican president before that president and the democratic president before that president. debt has exponentially grown way out of control. would you make it a central part of your duty if you become a united states senator to address the debt? >> i think we absolutely have to address the debt. it's something that's very important to me. i'm also very concerned about it. you know, guys like mitch mcconnell and senator mcconnell have said that they are concerned about the debt and then when they get in power, what do they do, they increase it. i think it's -- neil: they all do that, right? democrats, republicans alike, they all do that. how would you stop it? >> i think you stop it by getting people elected who are honest with the american people about our debt. we have to pay for the goods and services we want government to provide. i think that's very important. neil: all right. but barack obama was sincere, i take it, in trying to deal with the debt. he couldn't deal with it. george bush before him, equally sincere and no one seems to get

a handle on it. is it so important to you that you might scale back some spending to deal with it? >> well, i would tell you this. you know, we were on a path to decrease our deficit in the last few years of the last administration and we were on that path. then senator mitch mcconnell came in with this tax windfall and we now almost doubled it. so that's not -- neil: i don't know if we were on a path. certainly in the years of bill clinton, you are quite right about that. i don't know if we were on a path there. but you would go ahead and address entitlements as well to deal with that as you are cutting tax cuts? >> i think what we need to do is get people in office who want to look at a range of things and come together as republicans and democrats and look at our debt and how we address it. i think that we started to try to do that with things like the bowles-simpson plan and you know, that was thrown away. why was it thrown away?

because we had people that just didn't want to go there. we had the tea party, for example, that held up our national debt and said that, you know, they were going to basically hold it hostage. neil: it wasn't just the tea party. everyone had a hand in this. i guess what i'm asking you, also as someone who served in the military in this country very honorably, would you be open to paring defense spending? >> you know, here's what i would say about defense. as somebody who has served in three combat tours as a marine, i don't think we can pare defense spending until we stop the wars that we're in. it's very important to me to make sure that we have body armor for our marines going forward, so i don't think we can think about that right now until, you know, we scale back. that's why on things like an authorization to use military force, that's why that's such a big important thing for me. neil: inside.

a understood. amy mcgrath, thank you for taking the time. she's taking on mitch mcconnell. we have reached out to mitch mcconnell, hope to hear from him soon. in the meantime, renting is on the rise across the entire country. in other words, renting rather than owning because it's cheaper and for millenials it's the only option. after this. at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond.

i comparison shop for everything to get the best deal. gas is 6 cents cheaper here. sale rack! no! and, for loans, i go to

lendingtree.com. i wanted to consolidate my credit cards in to a personal loan to pay them off faster. lending tree made lenders compete for my business and i ended up with a loan that saved me over $9000 and no more credit card debt. i mean $9000! it's a lot of money. lending tree, may the best loan win. neil: houston astros all-star pitcher justin verlander says the mlb is juicing baseballs for more offense. what is he saying here, that this is all just to draw in eyeballs and attention? >> well, thanks for having me. we miss you in cleveland at the mlb all-star game. i guess that's his point, but i don't think there's anything different with the baseballs

this year than in previous years. i mean, they go in the same facility, they're produced out of the same facility and you know, sometimes there's an ebb and flow where the hitters have an advantage. i think you saw that in london where the mound was a little bit lower during the yankees/red sox game, so that's why there were so many runs in london. you know, justin is having a good season, he's 10-4. i saw his wife kate upton last night at shaquille o'neal's t-mobile party after the t-mobile home run derby. i think justin's got everything in the world going for him. maybe he needs to put the ball into a different place and not complain about the ball. neil: any time, i know you are at a party and kate upton's there, that's party and influence just for yourself, young man. touche to you. i'm wondering about this whole -- >> we miss you. neil: i bet you do. i'm wondering about this, i have heard others express it, they seem to be knocking it out of the park these days and a lot

more of this happening this year than other years. last year was a record from the year prior. what is going on with that? >> well, i think, you know, hitters, batters, they study pitchers a lot more. they have their, you know, iphones or pads that, you know, they watch pitchers, they're stronger. a few years ago, you know, we were talking about maguire and sosa and maybe there was an issue with sammy's bat, but i just think that you know, the batters are starting to, you know, pick up particular tips off pitchers and, you know, it goes back and forth. i mean, there's times that the pitchers have a distinct advantage. but i don't think there's anything nefarious about the baseballs and rawlings is not doing anything. obviously offense is good for all sports. baseball included. but i think you know, we just

need to celebrate the greatness of the game and not worry about any conspiracies about the baseball. i think you know, like i said, everybody, it goes in ebb and flow, where the pitchers have an advantage, batters have an advantage. you know, we'll see how it pans out over the remainder of the season, the second half of the season. neil: all right. we will watch closely the big game tonight. thank you as always, my friend. cleveland, the site of the big all-star game. meantime, richard branson's space unit wants to go public and is apparently looking for volunteers to go into space. we volunteered gasparino. no word back. can't see what it is yet.re? what is that?

that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star. patients that i see about dry mouth. they feel that they have to drink a lot of water. medications seem to be the number one cause for dry mouth. i like to recommend biotene. it replenishes the moisture in your mouth. biotene definitely works. [heartbeat]

he's got common sense that tells him this is right and this

is wrong and he acts on it. by the way, that's why the american people voted for him. neil: why isn't he up more in the polls? >> i'll tell you why. neil: i'm just asking. >> i'll tell you why. people don't want to say stloth voted for him. they just don't. they don't volunteer it. neil: bernie marcus, the original founder of home depot. maybe a lot of folks saw that interview or didn't know and he pointed out in many many interviews over the years that he's a big supporter of donald trump, raised money for him, will continue to raise money for him but a lot of them want to boycott. look, if one of your founders is pouring all this money into the campaign we don't want to associate with home depot. back with me, chris wilson, danielle dimartino booth, david munson. what do you think of this? >> i used this expression on your show before and i really mean it. i think it's a form of cultural marxism. this form of intimidation of people in the private sector that are told they are not

allowed to have political opinions that are not just in the mainstream. he was elected so it's at least something nearing half of the country in that range that happens to agree. neil: think it would be a different reaction if he was supporting one of the democratic candidates? >> of course. it would be a very positive thing. but there was a corporate figure that was giving a lot of money to elizabeth warren who i happen to vehemently disagree with her politics, last thing i would do would advocate boycotting that company. people in america have a right to exercise free speech to supporting the candidates they -- neil: you are both nodding. >> amen to that. come on. free speech is one of our basic liberties. we lean on it and -- neil: maybe this is something protesters think he's taking money out of the home depot till to do this. >> he hasn't been with the company since 2002. give me a break. >> this whole we are going to boycott someone is just the latest on when someone needs a light bulb or set of nails --

neil: democrat or republican. >> they are going to home depot. >> go to home depot, honey. yes. neil: all right. meantime, i don't know whether there are any volunteers here but richard branson's virgin galactic is going public. investors are ready, he thinks he could easily raise a ton of money and that could pay for volunteers he's looking for to go into space. david already volunteered for that. what do you make of this? and the marketing of all of this? >> i wrote in the show notes, are investors ready to bet going to space. i said all i can tell you is the chief investment officer is not ready to invest in it. look, if i want to invest in something that loses a ton of money and is this big aspirational tech play, i already have ride share companies that have gone public here in america. i can lose money on them. so no, this is a great way to shift capital allocation to somebody else who will be holding the bag they will wish they weren't holding. neil: but that's the future, isn't it? or no? >> it's not my future. neil: okay.

>> sorry. neil: talking about private enterprise going to take over for what the government used to do. this is how it's going to be. >> that may be true but everything richard branson does is kind of at the intersection between business decision and publicity stunt. this feels a lot closer to publicity stunt. neil: one of the producers proposed this and we are just caving into this guy. another item i want to get these guys' thoughts. apartment rentals at their highest demand in the latest period. millenials apparently not buying. you could say something about the real estate market or they were exposed to what their parents went through with the meltdown. what do you think? >> gosh, do i have a lot to say on this one. look, i know this is a family show but millenials need to procreate. they need to set up house and home. boomers need to start selling their homes and downsizing and they are competing with millenials for the same exact units. this does not work. our economy revolves around consumption. part of that consumption is at some point, getting married,

having children and filling up a home with the things you fill up a home and buying diapers and all of these things that won't happen and millenials have already put off settling down for a decade. neil: not adult diapers. >> not adult diapers. neil: maybe it's a sign of our times. >> look at our falling birthrate. >> it's just another way in which millenials are not following the path of typical generations. they are saving less, investing less, doing everything less, getting out of bed less when it gets down to it in some ways. neil: i have issues with this generation. >> we might find when we look at the generation that's following millenials they are returning back to the norm, they are more conservative and millenials will just be an outlier. neil: i don't know. >> i actually disagree. i don't believe this is about -- first of all, you have to have household formation, i agree. in this case, this is an affordability issue. there has been a bipartisan desire to see permanently escalating housing prices, it is

foolhardy and it is hurting millenials. those who are able-bodied and gainfully employed cannot afford to buy a home. the reason is -- neil: -- the $10,000 cap on mortgage interest and -- >> mortgage interest wasn't attracted at all by that. >> not entry level homes. >> property taxes could potentially be if the home goes over a million dollar price. neil: my point is there's another reason for them not to, right? >> but the major issue, the problem to me is that we have facilitated home ownership by coddling it with tax breaks and other things like that that have put affordability out of range. the zoning laws, the supply factors, environmental regulatory, the homes are -- neil: i think they crunched the numbers and said it's not worth it. regardless of what you tell them about procreating. >> they need to procreate but if they keep renting at record high, to your point, rentals, the rental rates are through the roof. no matter where you are in america. they will never have the ability to save for retirement, much less save for a down payment on

a house or even ever pay off their student loan. >> there is also huge incentive against procreating, by the way, against marriage, then procreating. neil: sure. they should join richard branson in space. >> we have to see what the salt deduction looks like. neil: look out the window. babies in space. guys, thank you very, very much. remembering ross perot after this. i'm really into this car,

but how do i know if i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar. >> building a copy is lot more fun than politics. based on performance. politics is magic acts illusions, manipulation. so it's a lot more fun to do this all day every day. i will tell you that. neil: that way saying you're not entertaining -- >> i'm making sure i live up to all of our commitments to the our customers, the people in the company and the stockholders. neil: what was i wearing for this? anyway, it is a sad passing.

ross perot gone the 89. a week after losing lee iacocca. these giants who defined markets, times our politics, perot, big impact, 30 part candidate, got close to one out of five votes. that was then. remembering him later on. charles: one of those vote was mine? neil: is that right? charles: yeah. i loved ross perot and lee iacocca. you can feel their presence in today's economic and political atmosphere. neil: absolutely. >> thank you, neil. i'm charles payne. this is "making money." the dow is having a lackluster session. the dow edging lower for the third session but investors are piling back into the comfort of big momentum names like facebooks of the world and amazon doing pretty well. this as investors, all of us are waiting to hear from fed chair jay powell tomorrow. we'll have a preview, a possible outcome.

after