workers with full pay. maybe everybody else joins in, don't know at this point but for federal workers you have the day off. check those markets, please, because we've got the dow down 275, the nasdaq up 100, exactly. i would call that a split decision. dow way down, nasdaq way up. look whose here, david asman in for neil today, david, sir it is yours. david: let me get this straight, stuart we have 9.4 million unfilled jobs and the solution to that is another federal holiday? i don't get it. do you? stuart: [laughter] no, i don't. david: stuart thank you very much. welcome to cavuto "coast to coastment" i'm david asman in for neil cavuto. some of the top stories and guests over the next two hours, americans surveyed on inflation and many say they are worried, how biden's spending is affect ing rising prices. why is top treasury lieutenant is just brushing it all off,

plus the fbi is not brushing off the leak of irs data wealthy americans former doj prosecutor jim trustey on the constitutional questions being raised plus we have senators marsha blackburn and cynthia lumis joining us about among other things what president trump just said about the putin-biden summit. that's all coming up, but first, initial jobless claims tick up to the highest levels in a month , as businesses coast to coast are battling a worker shortage. fox business' lydia hu is standing by with the very latest reporter: hi, there, david it was an unexpected jump people filing for initial unemployment benefits rose to 412,000 last week, that was an increase by 37,000 after falling for six straight weeks, still, claims for ongoing benefits fell by 500,000 to 14.8 million, that's well-above the pre-pandemic levels but about half of what it was just a year ago.

now the recent increase comes as more than half of states will pullback on part or all of the $300 federally-backed benefits in the coming weeks. louisiana is now the first democratic-led state to announce it will also end those federal benefit payments by the end of july. gold prices started falling yesterday after the federal reserve lifted inflation forecast and signaled two interest rate hikes sooner than expected. forecasts suggesting that the increase could happen in 2023, the u.s. gold futures fell 3.9% below $1,800 an ounce yesterday, and it looks like summertime travel will get more expensive for people who need rental cars. the u.s. represent all car prices could double by august amid a nationwide shortage. the new york post is reporting the average daily cost to reserve a car jumped to a record $63.75 last month up more than 50% in some cases, taking a look at the reservation prices for august, some rental car companies are showing prices

exceeding $100 a day, or more, depending on the region. david? david: lidia, thank you very much. well, a new national poll shows nearly half of americans worry that president biden's spending plans are leading to inflation. almost double the number that it is but treasury secretary janet yellen said biden's policies are not the reason for inflation. listen. >> i don't anticipate that it will be permanent inflation outlook we see inflation expectations by most measures, there are many different measure s and by most measures, see those expectations since being well-anchored. david: so there you go. joining me now to talk about all this fox news contributor liz peek, the cow guy at ag optimis t scot shellady. first are you buying yellen's dismissal for any responsibility of inflation?

>> it doesn't matter what i think, david. david: it does too, yes it does , go ahead. >> [laughter] i don't buy it. i suspect you know that, but what's important, i think, to the biden administration, is that 88% of american voters are now worried about inflation and a majority holds this administration and the big spending bills that democrats continue to push, even in light of rising prices everywhere, they hold them accountable so i think that's a huge political issue going into 2022, and yet, chuck schumer just came out and wants to bull ahead with his $2 trillion infrastructure package. david: no worry for him. >> i think it's nuts. david: remember alfred e newman >> right, exactly. david: i'm sure scot remembers mad magazines one of my favorites. scot there's not much in this world that worries warren buffett more than inflation. warren buffett is not one of those guys that throws up his hands when everybody else does. in fact he starts investing more

when people get worried but here is what he said about inflation, way back in 1977 it was really good. he said the arithmetic makes it that inflation is a far more devastating tax than anything that has been enacted by our legislatures. the inflation tax is a fantastic ability to simply consume capital. if you feel you can dance in and out of securities in a way that defeats the inflation tax, i would like to be your broker, but not your partner. did he have it right, scot? >> he's absolutely right and you know, inflation like the termite that quietly eats away that your paycheck without you noticing and that's the problem. a lot of americans will only notice the price rises at the store but they don't really put two and two together to figure out how that's eating into what they are paying or how they are getting paid less year-over-year now, here is the camp i'm in. i do think a lot of these things are temporary. i don't want to use the word transitory because it's used too

much and i think we need another two-quarters maybe three-quarter s to figure out what this starting at $25 trillion economy looks like. we've never done it before. we're using all of the wrong words the government says look at the jobs we created. i say no look at the jobs you reinstated, okay? stop it. so these year-over-year economic numbers that we look at, they look rip your faceoff good but they should be because we started from such low levels so we need to slow our role beings take our time and see the actual damage we've done here because i am really afraid of going back to our two-2.5 growth gdp and at the same time, having all that money spent and at the same time , massive taxes coming through. david: and remember, by the way , the obama administration, we averaged less than 2% growth a year. that was coming out of a recession, and it coincided with raising taxes so you're right. raising taxes will put a stopper on economic growth, but mike, look at gold. can we put gold up? it was down about $80 earlier

today. i think it's down about the same amount right now. $88, i mean that's about $130 taken off gold in 24 hours and apparently, a lot of traders in the gold business feel that maybe yellen's right about inflation being transitory. what do you think? >> it could be, david. you know, i think a lot of the gold trade came from people looking to hedge our portfolios in the event that the fed came out and kind of really spooked the markets, so they didn't so i think there's some fast money coming out of gold right there but i think that the bigger picture when it comes to inflation is if it's coming for the right reasons, and in this case, you know, part of it as scot was pointing out par of it is because the economy is recovering so much but part of it is because of some of the plans that are coming from the current administration, so, as an investor, as people watching the show at home, you know, it's okay to have some inflation but it's not okay to

have too much where it really hurts the market. you look at the pump right now when you go to fill up your car, that's a tax. not on the ultra wealthy that president biden is trying to attack, but that's a tax on the everyday person. the average person who really can't afford it right now, so i think that it's important that we realize who this is hurting, why it's hurting them, and hope that the growth in the economy is enough to get us over this. david: you know, liz, there's another factor inflation we have to talk about, that's those 9.3 million un unfilled jobs that are out there and that means there are fewer people working which means fewer things and services are being made and provided and that means higher inflation as well, right? >> there's no question. we have a really sticky labor situation right now. i think the fed has got it very wrong. i'm surprised honestly that they didn't see this coming, a that the unemployment benefits the extra unemployment benefits would keep people out of the workforce, and b that the rise in consumer net worth,

the huge surge in stock portfolio values and home prices might not lead to a lot of people retiring, which is the other thing, david, about 1.5 million people have retired because now they have enough money to do it. i think the fed honestly has been kind of on the wrong side here and i think they are still on the wrong side, and as everyone has been saying this is a tax and it's hurting americans. david: by the way, i should mention that a democrat governor has now joined 25 other governor s in rejecting a continuation of the federal unemployment benefits. that's very significant because when a democrat understands that they are kind of breaking ranks. scot, let me move over to another subject we've been following this irs investigation we had this leak of information from very wealthy people, including jeff bezos, a lot of super-rich people, from the irs and a lot of people are saying well it's just the wealthy people what does that matter? well it matters because any leak

of personal information by the irs can eventually lead to your information being leaked out from the irs, and that's material there, the a.g., the attorney general garland has said he's going to investigate this. do you trust that if the leak came from within the administration, because they want to pursue that wealth tax, that he will pursue that lead and find out who did it. >> well, i trust that he will go through the motions, but i don't trust that anything will get done because look what happened we weaponized a lot of those government agencies under obama, and absolutely nothing happened. lowest learner, so when we have, those people in power they're going to show us they are doing all of the right things but when it comes down to it there will be no repercussions and no answers to anybody. david: let me switch back a little bit, scot and stick with you on this. there was an apology. the obama administration made an

apology for her actions. yes she retired i think she gets 100,000 i may be wrong but 100,000 a year in pension, but the fact is the obama administration had to apologize and it did put a stopper on a lot of that stuff, didn't it? >> until this time around. i mean, yeah. maybe for a short period of time , but it's happening again, and do you know what? you got to leave your job with a pension. where is the slap on the wrist, and by the way this is a target ed leak. it wasn't like something spilled out of the bottle. it was a targeted leak which i think is actually worse i'm going to say they go through the motions. david: mike the bottom line as scot points out is that it did happen again. it is kind of a default position , governments in power kind of like the idea they have access to all of this information that could be very embarrassing for people they are going after for one reason or another, right? >> absolutely, and you can talk about the governments being weaponized and attacking one party, and then you can talk about big tech and censorship of

one party, and as you point out, david, you never want this , because next time, it could be your information being leaked or you being censored so i think what we really need in this is common sense, because if you think about it, nobody wants their information being leaked whether you're jeff bezos or not so we need to apply some common sense here. david: yeah of course common sense is in short supply these days, so let's hope that there's some sticks to go along with the carrots in order to get that common sense. great discussion, gang, thank you very much. coming up, what were president biden and russian president vladimir putin's top priorities at the summit they just had and what happens next now when the rubber hits the road we'll have a live report from the white house, straight ahead. >> ♪

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>> you got a multi-thousand mile border with china, china's moving ahead, hell bent on election, as they say. the economies struggling and not a kumbaya moment as you used to say back in the 60s in the united states like let's hug and love each other but it's

clearly not in anybody's interest. david: concerned over china's rising power, a top priority during the summit in geneva with both president's biden administration and putin acknowledging the need to counter beijing's growing influence around the world. gillian turner is live at the white house with more. reporter: hi good morning to you or almost good afternoon, david i should say, so, both presidents biden administration and putin are insisting that going forward, there are certain issue areas where the u.s. and russia really can work together. they were pretty sparse on the specifics of what those issues actually entail, but one thing that is 100% certain is that both leaders are increasingly anxious about countering china. now, biden has said a whole lot of times since becoming president that he's been working with xi-jinping longer than any other former american president. he also believes that something that can really work to his advantage now going forward. take a listen. >> is there going to become a time where you might call him, old friend to old friend, and

ask him to open up china to the world health organization investigators who are trying to get to the bottom of covid-19. >> let's get something straight, we know each other well. we're not old friends. it's just pure business. reporter: so now, coming out of the putin summit, the number one foreign policy challenge for the united states, looking ahead into the near future, is holding china accountable for the origins of covid-19. it is an issue that putin claimed yesterday, biden barely touched on with him during their bilateral. listen. >> did talk about that but we only touched on it tangentially. we answered a request by the americans to send our equipment as humanitarian assistance. reporter: now, the president did say he learned just how much pressure putin is feeling from the chinese communist party. as china continues to out- compete russia on the global stage. listen. >> russia's in a very very

difficult spot. they are getting squeezed by china. they want desperately to remain in major power. they desperately want to have the relevance. reporter: it turns out, david, we are going to hear from the president today. we had thought he might take a breather following his return from the nearly week-long summit but at about the 3:00 p.m. hour, he's going to make remarks, the vice president harris to comet rate june-teeth which is this coming saturday, as you now know, congress has made it a federal holiday. david? david: thank you very much, good to see you. >> you too. david: a bipartisan infrastructure plan is getting a boost as 11 republican senators endorsed the roughly $1 trillion proposal. blake burman is live in d.c. with the latest on that. hi, blake. reporter: hi david and what the president now back here at the white house after that eight -day trip overseas the domestic agenda is once again coming back into focus, and that includes the

possibility of a bipartisan infrastructure deal. a group of about 20 or so democratic and republican senators say that they have a frame work of a possible deal, let me walk you through on some of the top lines of what it could look like about $975 billion over five years with 580 billion of that in new spending though they are still negotiating exactly how they might go about paying for it. this is a slim-down deal from the $1.25 trillion package that would have been spread out over eight years that that group had been discussing as well. senator joe manchin is a part of that group and here he was earlier today when talking about the possibility of a deal. >> i just think everyone has been at the meeting and its been a very bipartisan respect respectful meeting and the white house is very reflectivity receptive to these respectful meetings. reporter: some other movement on capitol hill is the transportation secretary pete buttigieg met with the problem solvers caucus today a group in the house, a bipartisan group, so they got some facetime with the

transportation secretary about what a possible bipartisan deal could look like but david, keep in mind, when you've got these multiple paths going of what a deal might look like in the senate and what a deal could potentially look like in the house there are still many democrats in the senate saying scrap those bipartisan talks altogether. they want democrats to go at it alone and to go big, but the problem is, at least with that theory or that pathway at this point, simply put in the senate it's not believed that democrats have those number s. david: yeah, very quickly, when you see that only, forgive me for using the word only, but 580 billion in new spending. what does that mean exactly? new spending does that mean that they have money left over from covid they haven't used and they will repurpose that? reporter: no so it's not like this is the first time infrastructure will be spent, right? there's still money that is spent on infrastructure, on an annual basis, so that number is going to happen next year, the year after that and et cetera so what above and beyond is needed and that sort of what they are talking about. david: very good, blake thank

you very much appreciate it. joining me now is republican wyoming senator cynthia lumis. senator, you did not sign on to this plan, why not? >> well, david, i might at some point. i have, like you, just begun to review the details of it, but i'm delighted that republicans and democrats continue to try to hammer out a deal that is focused on pure infrastructure, what we know as pure infrastructure, and not bolting it up with things that are far away from what we know as pure infrastructure, so it's so positive that they are still visiting, and i'm delighted that the conversation continues, that we might be able to come up with a package that's pure infrastructure. david: now, i'm delighted that you're delighted. on the other hand, i would also like to say there are a lot of people like senator schumer who have been very clear that they're not going to accept

anything less than their definition of infrastructure, which of course, includes a lot of stuff that we used to call social spending, and child care and stuff like that, that hasn't usually been used in reference to building roads and bridges. do you think senator schumer will allow just to focus on the roads and bridges part? >> if senator schumer will not allow us to focus on pure infrastructure, he's going to have to go it alone, with just democrats, and use the reconciliation process to do it. david: now let's talk about inflation, which is something that's hurting people right now. a lot of americans are, you know , afraid to go fill up their tank of gas because of what it'll cost them, and every time they go to the grocery store another product is just raising their prices. janet yellen claims that all of this inflation has nothing to do with either the money that they have spent or the money they're planning to spend on all of

these programs. do you buy that? >> i don't buy that. the united states has so much money sloshing in the economy as a result of the covid deal that was put together in the last congress, in december, followed by the deals that the democrats passed on reconciliation earlier this year. a lot of that money hasn't been spent. it's still sloshing around. meanwhile, we're seeing lumber prices up, food prices up, gas prices up, the things that people buy every day. it costs $80,000 more to put the same house on the market this year than it did last year in wyoming, because of the cost of materials alone, and not just lumber. it's everything. it's hardware, it's everything, so i do not agree with secretary yellen. i believe that this is more systemic. i'm concerned that it's also more long term.

david: talking about infrastructure, the president mentioned infrastructure yesterday, kind of in a different fashion when he was talking about cybersecurity after his meeting with president putin saying that certain, and i'm quoting him now, certain infrastructures should be off limits to cyberattacks and he mentioned 16 various infrastructures. why should you limit what russia can or cannot do in cyberattacks to just a section of our infrastructure? >> exactly, david. it should have been no cyberattacks, anytime, anywhere, and that the united states is going to hold russia accountable for the activities that are occurring by private groups inside its borders that are causing these tremendous disruptions in the u.s. economy. david: but did that, i mean, that was kind of i was covering it live as it happened. i was shocked to see that he

said just certain infrastructure s should be off limits. i mean, when you're talking about an attack, a cyber attack against the united states of america, with the involvement of the russian government, don't you want to be absolutely clear that everything is off limits from government. you don't want to be attacked by a foreign government, period. >> exactly, david. i'm scratching my head about why they even chose to come up with a laundry list. it would have been so much easier to say no hacking, no ransom, no cyberattacks anywhere , anytime, in the united states. david: very quickly, we had a congressman on right after that presser who suggested that counter attacks, by cyber command and there were two of them, two count era tacks during the trump adminitration, 2018 and 2020, that cyber command has been told to kind of lay off by this administration,

not continue with the counter attacks if we are attacked. have you heard anything about that? >> i have not but if that's true, that is the wrong course of action. we are, i fear, letting down our guard, sending out signals around the world that we're going soft. we never had to worry about president trump going soft. i'm a little worried about president biden going soft around the world. we have to protect and defend the stature and the integrity of our infrastructure as well as project strength around the world. i hope president biden will reconsider and project that strength. david: all right, maybe he'll do that today we're going to hear from him around 3:00 eastern time, senator lummis, thank you very much for being here appreciate it. >> thank you, david. david: well the heat is building out west, and so are the power problems, why critics say green energy is actually to

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david: welcome back to cavuto "coast to coast" well four months after the historic winter storm that crippled texas, the reliability of our power grid nationwide but particularly the lone star state is coming into question again. fox news correspondent casey ste gal is in dallas. reporter: hi, david texas is part of that heat wave we've been hearing so much about gripping much of the west and southwest, with these unseasonably high temperatures, and that, of course, has translated into skyrocketing demand for electricity, coupled

with lower than expected supply, in some places and as you said nowhere is that more apparent than in texas, the only state with a deregulated system and independent power grid. energy experts argue that right there is the problem. listen. >> periods of peak demand we can't buy power from other states, and in periods when we have a surplus, we can't sell power to other states. reporter: ercot, the private agency running texas' grid this week, asks some 26 million texans to conserve their electricity use, after hitting a record new, a new record, i should say, for june consumption it was around 70,000 megawatts on monday, for contacts total capacity is usually about 87,000 , but 12,000 was offline, for maintenance and repair. that's the equivalent of about 2.4 million homes. >> woke up this morning and we say kids, start drinking your

water, it's going to be a nice hot day you need to have your body prepared for the heat. reporter: many people are anxious, especially after that historic winter storm back in february that knocked out power to nearly 70% of all customers, and some for days. state lawmakers have since passed legislation, designed to prevent another catastrophe, but energy experts say it does help; however, creating tougher protocols in the event of extreme weather isn't enough. they say that it still does not address infrastructure expansion that's badly needed here, to keep up with the fast-growing population. californians meanwhile have also been asked to conserve energy right now. david? david: wow, casey, thank you very much, and now, the wall street journal writing renewable s show again that they aren't reliable to our power grid. joining me now is cope en hag en consensus center president, bjor

n lomborg. thank you for coming in so we're already experiencing these rolling blackouts in california, the disaster last winter in texas, which maybe bad now with the heat wave that's going on in texas, and this is without, by the way, all of the extra energy , electric energy, we're going to be needing for all these new electric cars that are going to be on the road. it's a whole new pressure on our power grid that i don't know if that's been factored into everything. are the biden plans to do away with fossil fuels relatively quickly going to make this matter even worse? >> well, it's very clear that we don't know how we would actually manage to do that. biden, and many other leaders around the world, want to go fossil fuel-free by 2035, but the reality is, of course what these crisis show us is we need sustainable base load power, and most of that does not come from renewable.

there are many reasons both why they are problems in the winter and why there are problems now, b fundamentally, it's underscore s, we need stable power. also, and i think that's probably one of the things we're really missing out on, we need cheap power, because if you have cheap power you can actually cool your home when you need it, you can heat your home when you need it. when we're driving up prices, and that's what green energy does, when you drive up the prices, you make it less affordable to everyone and obviously, that means more people are going to be vulnerable both to heat and cold david: and yet you see the biden administration kind of jumping the shark in terms of getting rid of things before we're ready to get rid of some of these fossil fuels including the pipeline, one of the first things he did as president was to cancel the keystone pipeline project, of course he did so and right after that, gave the green light to russia to go ahead with their gas pipeline, which no doubt, by the way, will be dirtier than our pipeline. you can guarantee that the

russians aren't as interested in clean energy as we are, or the canadians, so i mean, all of this , i'm just wondering if they are trying to push something too soon, before we either have the infrastructure for it, or the capacity for it. >> oh, it's definitely too soon look, fundamentally, you're not going to get people to switch when it's very expensive, and that's what we're trying to do right now. you might be able to get a few well-meaning americans and other europeans and others around the world who are rich and willing to pay in order to do something for climate, but it'll only be a little bit and it won't really matter, because as you point out, the russians, chinese, the africans, the indians are not going to do this. david: not at all. >> so we need to understand, we're only going to solve this problem, if we have innovation. if we could innovate the price of green energy down below forensics, everyone would switch and we'd be happy to do so, but pushing it through when it's still very expensive, no that's not a good deal.

david: finally, bjorn, this is of great interest to americans particularly unionized americans making a lot of money off the fossil fuel industry, our new climate czar and other people in the biden administration saying no problem , the green jobs will be great, they will be paying you more, et cetera. here is what john kerry, our kind of climate czar said about that recently. listen. >> the fastest growing job in the united states before covid was solar power technician. the same people can do those jobs, but the choice of doing the solar power one now is a better choice and similarly, you have the second-fastest growing job pre-covid was wind turbine technician. i think that workers are going to see that with the efforts of the biden administration, they are going to have much better set of choices, and frankly, it will create more jobs than stuck where we were. david: well, bjorn that was a couple of months ago now a south dakota wind turbine plant is

closing down less than two months, 300 workers out of jobs. this is what the obama administration did too, by the way. they really over-sold the number of jobs created by green energy, and a lot of workers are losing their jobs without having another job to go to in green energy. >> so look, there's both a transition issue, if you're skilled in one thing, for instance oil extraction, you can't just go and be a solar technician, but in the long run, of course, we will see in transition to what's your green energy, but you should not fool yourself, if you have to subsidize it, it simply means that you have to take that money and tax revenue from other businesses. that will deplete those jobs, so fundamentally, most models show no, you're not going to get either a bonus or de traction of jobs. you're simply going to have the same amount of jobs but what really matters is are these productive jobs, they're not if you have to subsidize solar and wind. once we've discovered how to make green energy so cheap that everybody wants it, of course

it's great that people are going to be working those areas. david: yeah, you know, tom soul once said there are no solutions , only tradeoffs and this is one of those examples. great to see you thank you very much. let's take a look at the markets as we head out to break and they are down big time. dow jones was down over 400 points just moments ago its come back a little bit but still down 340 points but nasdaq look at that there is green on the screen it's up about a half a percent. we'll go into details into markets when we return. >> ♪

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in business, it's never just another day. c it's the big sale, ory the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >> welcome back to "coast to coast" i'm benjamin hall with the latest from north korea where leader kim jong-un has made a rare admission of the country's food shortages that comes after he also

admitted his country's economic policies had failed and that now he was embarking on a new five- year plan. it was, by the way, a noticeably thinner kim jong-un, who addressed the party conference this week, raising some concerns about his health. he breathes heavily when he walks and previously weighed in at over 300 pounds and is now thought to have lost about 50. he was addressing a meeting about food shortages. the country is being hit hard by tough covid restrictions, while summer typhoons and floods decimated their crops. the critical land border with china was shut cutting off imports. what kim is trying to do is blame the pandemic for people suffering telling them the situation across the world is getting worse, without access to information, they know no better but the problem is he promises people a more prosperous future and this hasn't happened. there's only a brief mention in his speech of the current international situation referring to the conflict over the country's illegal nuclear program, but, his rhetoric

remains bellicose. president biden also said at the beginning of his presidency he wouldn't be meeting with kim jong-un saying he didn't want to give him an international platform, strange, perhaps considering just yesterday he met with other autocratic leader with his own nuclear arsenal. back to you. and now to break. ♪ why do you build me up ♪ ♪ (build me up) ♪ ♪ buttercup, baby ♪ ♪ just to let me down ♪ ♪ (let me down) ♪ ♪ and mess me around ♪ ♪ and then worst of all ♪ ♪ (worst of all) ♪ ♪ you never call, baby ♪ ♪ when you... ♪ ♪ say you will... ♪ carl. what have you done? think anyone will notice? yes. yeah. if you ride, you get it. yeah, they will. geico motorcycle. fifteen minutes could save you fifteen percent or more.

david: the big reopening about to get bigger across the pond. the eu is expected to lift its travel restrictions on americans but back here, the cruise industry is hitting a snag. fox news correspond entertainment steve harrigan with more on this , hi, steve. reporter: david the official announcement from the eu expected friday, ready to reopen all of those countries for u.s. travelers just in time for the summer season. france disneyland opened today for the first time was open briefly over the summer. france has cut back on a number of restrictions due to good covid numbers. the uk moving somewhat in the opposite direction, postponing removing restrictions due to bad numbers problems with covid variant. the u.s. government in the meantime has decided to spend more than $3 billion on anti-viral pills. the pills will be used early on in the infection. the hope there is to try and

keep americans out of the hospital. here is dr. fauci. >> seems clearly remain the center piece of our arsenal against covid-19; however, antivirals can and are an important complement to existing vaccines, especially for individuals with certain conditions that might put them at a greater risk. reporter: and as you mentioned the cruise industry just devastated by the virus, now royal caribbean has had to postpone its re-launch of a cruise set for july 3 from fort lauderdale after eight crew members tested positive for covid. that departure pushed back another four weeks, david back to you. david: wow that's awful thank you very much, steve. good to see you. well republican florida governor ron desantis granting pardons for floridians charged with violating covid rules. back now with our panel we have liz peek, mike murphy and scott shellady. good to see you again. scott, can we now say this is

kind of an interesting moment when he did this pardon because it kind of indicates to me that we are really out there. we are fully open for business in america, no? >> yeah, i think that's the case. obviously, some states, more than others, and to those that aren't i can't believe they haven't been there already, what's taking them so long but yeah, i mean, the mentality of the country is we're open for business. i just traveled across four states in the midwest last week and i didn't have to use a mask anywhere. i wasn't asked, it wasn't even on my mind so i actually forgot to bring one and didn't ever need it so yeah, the countries definitely opening up, and part of what i wrote about this last weekend was the fact that, you know, it's interesting to see what was illegal back in the day, like you get arrested for walking along the lakefront here by yourself with no mask, in the middle of a park, where no one is around but now, that's considered crazy, but back then it was considered the rule of

law. interesting to see how i'm disappointed to see how we traded those rights for perceived safety when in the end there really was no safety and you gave up your rights. david: no, i agree and liz, i'm wondering if we learned anything from this. usually, we have one crisis, we say oh, we learned all these lessons and then you have another crisis and the same mistakes are made again. do you think, god forbid, that we have another pandemic, although one certainly could happen sometime, maybe not even in our lifetimes, but have we learned, can we say now definitively that these lockdown s and arresting people even in states like texas for not wearing a mask don't, they do more harm than good. >> david, we can't learn anything about all of this because we're not even allowed to debate it. i mean, months ago if you even raised questions like that, you be shutdown on social media. unfortunately, everything about covid and our practices related to covid became so hyper-

politicized that open and fair and reasonable debate, even amongst leading epidemiologist all o was considered off the grid, so, i really find it absolutely horrifying that we're still even debating things like are masks useful. there should be an answer about that, and common sense people, which i think actually a lot of common sense people kind of got to their own conclusions, but i think as a nation, we failed the test of open debate and free speech on these matters, and that is the worst thing that happened in the past year, except, obviously, for the losses to covid. david: mike there's one word that i think we should ban in the next crisis that we face and that word is "panic." some people were actually talking about panic as a good thing, that we should all panic in order to prepare ourselves for the worst. well, in fact, panic leads to some very bad decisions, does it not? >> it does for sure, david and you can apply that to a lot of

things, but i think covid became so politicized in that if you were anti-mask, you were on the right and if you were pro- mask you were on the left, and really, when the next pandemic, if the next pandemic comes, you know, really the focus should be on loss of life, all life, and it shouldn't be politicized in any way, shape , or form, so we're over it, we got through it. there's a massive loss of life which is a tragedy, but the main thing is we learned from it going forward and if we can do that, then hopefully next time when we're faced with something like this , we have more common sense, we have more experience, and we can avoid a lot of the shutdowns and lockdowns which really helped nobody, just hurt some people. david: wouldn't that be great and i hope it doesn't happen in the midst of a presidential election as contentious as this one, that didn't help at all in terms of politicizing. we only have about 20 seconds very quickly, scott. the market, you would have thought that market be taken off like fire today, after the fed

announced it was not going to be raising rates anytime soon. why is it down, quickly. >> i think the people are still looking at this , begin to talk about beginning to talk about tapering. i can't believe it's down as much as it is because where have you been the last two years we're going to have this talk at some point in time, so if you're surprised today, you've been living under a rock. it'll be okay, interest rates are still very very very low and the economy is still doing very well. david: we should say the nasdaq is up a nice size, about half a percentage point so that's doing well. gang thank you very much. good to see you all. when we come back, why the fbi is now investigating the irs over that massive data leak involving some of america's wealthiest individuals. could it happen to you, next.

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>> the>> sry kryeepswi g g every ee knownohers and tanhehe w ehththde ananan wonfirmed this information yesterday. this is tax information from 15 years that came out about the world wealthiest in some cases and certainly the wealthiest in america, the likes of jeff bezos, elon musk and mark zuckerberg. lawmakers on capitol hill where i am are furious and want more information about this listen. >> stolen material that they know is stolen and putting it out in the public sphere and that's also a felony. every time they release tax returns on anyone, that's another felony. >> irs has its own internal investigation under lawmakers including senator chuck grassley and others sending a letter to fbi director and attorney general marek garlin demanding not only an investigation but specifically criminal charges appeared. >> what makes it different from

other leaks is the threat of the information disclosed appeared. >> pro public head over the weekend said this about possible investigation. >> we gave a very big stage to russia and we got nothing. we gave up something i was unbelievably valuable and i stopped. >> the trump administration made leak investigations a priority and in some cases targeted media organizations. the biden administration, no fan of leaks but there's a new posture from the administration and the department of justice. they are no longer surveilling records for reporter words that is good news for the media but investigators say they are losing a significant tool in their toolbelt. david: thank you. by the way the soundbite we will use later when we talk about the vladimir putin biden assignment. the fbi is investigating

after attorney general mary garland expressed his views. >> people are entitled to privacy with respect to tax returns. david: we will be on the attorney general to see how far he's willing to go to make sure the matter gets proper attention. former d.o.j. prosecutor, jim, great to see you. if the leak did come from within the administration, do you trust the attorney general appointed to follow it wherever he goes? >> well, hard to know, i mean, it's early to know how much character he will display, but i think so and i have no problems with the concept of chasing leak investigations as we have become tolerant of leaks in this country. so i hope he comes through.

david: irs data is considered sacred and whenever-- a lot of previous administrations have leaked information. it happened so often in fact i believe it was during the nixon administration that he made it illegal to do so and it's surprising it was not that way before, but the irs is thinking of changing rules led by the treasury secretary to give them even more authority to look into our personal records. they say it will just be for rich people making over 400,000 and that has a way of working its way down to everyone, but does it concern you that the irs-- they want the irs to have more access not only to your income, but to your outgoing, stuff that organizations that you send checks to? >> that's the big privacy tug of war we are living based on technology. what's happened is it used it to be if you were investigating into

leaks or trying to get personal information from a person it's-- the fourth amendment kicked in about unreasonable searches and seizures because you were going to that target obtaining the information now everything is in the possession of third parties, cell phone carrier, internet service provider so it's a big temptation for governments to reach out to the third-party provider. we are really implicating you, we are just going to your internet provider and you get a wealth of personal detail that way so again just because it's lawful or within policy doesn't make it a good thing in terms of the privacy interest of the country. david: it's the intersection between the irs and what it has access to and the policymakers, the people who appoint them very often. that's where the problem arises on the question here is whether the administration was pushing its views on a wealth tax and how the very wealthy should pay more pushing that view by releasing this

information for redo they had that ability? do administrations-- can they put pressure somehow on irs officials to leak data? >> well, i hope not. you like to think they are independent and we have had recent history of some irs political behavior that looked pretty bad. i mean, the question was where it was rooted, so i think they can put pressure on and they can try to get that irs to comply with the political objectives and that's a bad moment for all of us no matter what side of the isle you are on. >> the wealth tax itself has problems and i know you have investigated the constitutionality of the wealth tax or not, but just the idea and this is one reason a lot of the country-- countries in europe got rid of it, but the idea you create this extra policing factor in the irs that would give them the ability to track down everything you own to value-- valuate to assess and tax you on that rather than something you assess pretty easily, how much

money you make. that brings up some deep constitutional issues, doesn't it? >> i mean, it's worrisome and the problem is the competition doesn't necessarily give you a lot of direct information about what forms of taxation are appropriate so on some levels it may be left to the good judgment of representatives which is a horrifying thought. i'm glad i will never be affected by a wealth tax no matter what, but i think it may-- raises legitimate concerns. justify a new taxation and tactics of the enforcement actions that we have to worry about and you are right to think they will get the digital footprint from everyone in pursuing a tax like that. david: there are two things that have happened recently, wanda leaks that we are getting that really predated the pandemic and then the pandemic itself and agreed to that the government invaded our constitutional rights and liberties and so

forth and i think those two factors combined put us in a dangerous point in our history. we have to be careful about that. jim, great to see you. appreciate it. >> thanks. david: a new op-ed in the "wall street journal" from former senate banking chair phil gramm and economists are used this war on wealth could destroy the american dream along with any notions of privacy former investment banker carol and strategic wealth partners investment strategist luke lloyd lou, to you, this pro- public a week or the information that was leaked to pro- public which was published, the report itself by pro- public a does something i think is dishonest, which it conflates wealth appreciation with the idea of income, that is to say we-- anyone that has a stock notice you are taxed when you sell it, but not along the way when it

appreciates in value and that's what pro public a dead. they complain about people not paying taxes for something for which there is no tax; right? >> everyone pays taxes and sometimes people pay double taxes and that's what you are referring to. i find it unlikely a wealth tax will be implemented. joe mansion has more power than joe biden right now and he won't let the policy through. it would be extremely left that will hurt middle-class americans and not the wealthy who are paying the tax. the top 1% employees america and if you tax the business owners you indirectly tax the middle class. i think many people asked the wrong question. is not a question of who should pay higher taxes and where we should implement higher taxes, but why do we have high taxes in the first place. everything comes down to opportunity costs and if you take money away from one place, you lose the opportunity to invest that money somewhere else. i would argue no though successful business owners who are wealthy

and have created jobs in wealth for their employees, they will allocate their money and capital better than the government. david: the thing about the wealth tax that is most annoying is that it's been tried and failed at. in 1996 there were 12 countries in europe that had a wealth tax and now there are only five and the reason most of the country's got rid of it is the global way the wealth, they never collected the tax revenue they thought they would because all the capital moved out. bay lost more from investment than they gain from the tax. >> yes, economic idea is so bad that european countries abandoned it and that's something we definitely want to try. you know putting the constitutionality of this aside for one second, you should never put that aside, it's all about capital being mobile in the government getting in the middle of trying to decide where capital should go and we do know what we are alluding to is what will happen is if you have a

lot of wealth, then you are either going to hang onto it or move it somewhere. this will end up affecting small businesses and family businesses that have the majority of their lifetime wealth tied up in the value of their business that could end up forcing them to have to sell or liquidate. we do not want to central planners making these decisions we have seen with the fed has done to disrupt the market. we don't need that happening throughout the economy because they are not trying to create more wealth. they are trying to take it away. david: and luke, part of the american dream is if you get rich other people get rich as well, i mean, look at silicon valley and what happened with all the millionaires created by the billionaires; right? >> it's all about the innovation factor. when companies innovate and have more capital to spend weather comes down to the wealth attacks or corporate taxes arising, any kind of tax destroys the innovation and

innovation creates jobs, creates opportunities and wealth all around, i mean, that's why we are the richest country in the world. as soon as we say we have the middle class and lower class, but our middle class and lower class in america because of the innovation we have had over the past 100 years makes us so rich that our middle class and lower class is higher than most other countries upper-class so that's the thing you should take in and consider moving forward is why innovation is so important and why we can't take it away. david: wouldn't want to lose the american dream in america. that's for darn sure were. we will see more of you later in this hour. after the break, president trump sounding off on president biden's meeting with vladimir tuten and why the former president is calling the summit a good day for russia when we continue.♪

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>> pointed out to him we have significant cyber capability. he doesn't know exactly when it is, but it's

significant. if in fact, they violate these basic norms we will respond. david: biden a threatening retaliation-- against russia if they continue to hack american infrastructure, yet giving president putin a list of what not to hack as our nation cybersecurity remains front and center, a hearing on capitol hill today. hillary, i have to say i was covering it yesterday and i heard that well, there is a certain infrastructures that we will secure made me think which ones are you willing to secure. reporter: exactly and i think a lot of people were hoping they were on that list, david and the reason why is because ransom ware attacks are surging. in 2020, ransom ware attacks were up three 100% compared to the year from before and so far this year over $50 million in ransom has already been paid to cyber criminals. >> the average ransom demand of these attacks

increased 10 times an average cost of taxpayers to clean up after a single cyber attack rose in the millions of dollars. reporter: unlike a business that may be able to reach into their pockets of prophet to pay off hackers, state and local governments, schools and police departments that have been caught up in the crossfire has taxpayer cash to pay a ransom. >> even small family networks are targets for these bad actors and we can no longer rely on security through obscurity. reporter: as you mention president biden did give tuten the list yesterday of the 16 sectors he set her off limits but i talked with senator lindsey graham today and he told me he doesn't think it was the right strategy. >> well, i think the better thing would have been to said we will hold you accountable for cyber attack-- attacks were all american businesses and give him the names of the companies, the criminal enterprises that are operating in russia.

reporter: david, i also asked senator graham what it means if vladimir tuten ignores the list and does target again our critical infrastructure and if it would be considered an act of war and senator graham said that's what he is going to ask the secretary of defense today, what are the rules of engagement and when is a cyber attack considered cyber terrorism and how should the u.s. respond. david: we have responded in the past with cybersecurity responded in 2018 and in 2022 with counterattacks that we've done it before such as when we do and under this administration. thank you. former president trump declaring the u.s. the big loser after president biden sentiment-- summit with vladimir putin. >> we gave a very big stage to russia and we got nothing. we gave up something that was unbelievably valuable. i stopped the pipeline and that pipeline was

estopped and it was given back and nothing was gotten for it. i think it was a good day for russia. i don't see what we got out of it. david: reaction from former white house chief information officer under president george w bush teresa payton pure thank you for being here. let's start with president from bringing about a point about whether we gave away too much before the summit began, but president biden after the summit yesterday saying only certain infrastructures would be protected from cyber attacks. why did he qualify it like that? >> yeah, and i'm assuming he provided the list. there's actually a list of critical infrastructure, 16 of those and it's been identified by the department and agency and department of homeland security and i'm assuming he was a saying that list, but what i would like to see the advisors around president biden is to advise him in his

talking points instead of 22 critical infrastructure is saying that all civilian targets such as companies, our tax paying citizens, they are all off-limits because of civilians and private sector companies are caught in the crossfire here. david: well, should someone let's start with the president on down clarify what he said, that any attacks that involve the russian government, cyber attacks against americans are unacceptable, completely unacceptable and we will respond to them to yes, and we also have to understand also that putin always has plausible deniability so it's hard to tie things back to putin avon order and a military or intelligence operation happen so he does a great job of doing this. he also has attacks by proxy, so he has cozy cyber relationships with

other operatives such as iran who could then in turn say you didn't say to me, so we really need to bring out a strong message, which is an attack against any part of our infrastructure, not just the 16 critical and structures is an attack that would be responded to in a kind and then we have to be willing to stand up and have the political will and might to respond appropriately. david: and we have an excellent organization in the form of the cyber command to respond and apparently they did so in 2018 and 2020 after tax on various election facilities. by the way, the ap when they asked president a question about that yesterday, said the last administration did nothing about cyber attacks, but they did. are we still capable of responding in kind to attacks? >> we are. i think the challenge is and the reason why you don't see more of that

is the international rules of engagement have not been hammered out and if so each we step out to respond in kind with cyber, we are taking a risk of alienating allies and we are taking a risk that its attribution if there is any mistakes at all in attribution we could be attacking back the wrong operatives. david: that-- usually i am kind of skeptical of these international bodies that make up these rules, but in this case perhaps we need a major summit, a major international summit of some kind to say specifically what is absolutely completely off limits in terms of any connection between a government and any cyber attack that takes place. should we have something like that and maybe should president biden and putin have been discussing that rather than what they did yesterday? >> that would be advisable, but candidly the conversation really needs to happen with our

allies first and i have been advising the last several administrations and i would say to president biden, this is your moment, america should pull together our allies and say you cannot fly in each other's airspace without each other's permission, so why can we do this in the digital realm we want exactly. quickly, have to run. david: the former president trump's comment that we gave away too much before the summit in terms of giving a green light to the gas pipeline to the russians which means so much to putin and that was happening virtually as we were-- as the colonial pipeline was being attacked by a russian agent, was that really bad timing on our part? >> not the best timing. putin necessarily needs to sell energy to find his ambitions for russia and this is just another feather in his cap statement teresa, thank you very much for coming

in. appreciate it. lumber prices are starting to take down after the most dramatic increases in history. jeff a walk on how lumber businesses are reacting when we continue. there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal. and with the right guidance, you can get the financial clarity you need, and live a life rich in meaning, and gratitude. to learn more, text thrive to 444555, or visit thrivent.com.

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$449 a month for 36 months. experience amazing at your lexus dealer. david: welcome back. look at lumber prices as they are dropping dramatically from record highs, still up year over year, but now to those who stocked up on lumber are looking to sell the supply they bought when they thought it would keep going up and jeff luck live from a lumber yard in chicago with more. reporter: the commodities market, lumber is a commodity, no question. look at this a big beam. this is for something you might put in your basement to hold your house up and that's

about $300 worth. it might typically be 150 or so, prices have doubled and they are coming down, but not that much. >> they are coming down but on the wholesale market for a moment but you won't see it on the retail level for a while until stock gets cleared and everything levels off. reporter: look at the cme lumber contract that everyone watches, up over 1700 and now if you look at the out months, i mean, it should be trading in the 300-dollar range. >> three or 400, typically. reporter: as david pointed out about a thousand. the thing is the big box stores like the home depot and lows and the rest they stocked up on this. >> yes, they did so, i mean, it may be a wild before there is relief on some of the prices. reporter: look at the two by

fours pick that's what everyone buys. they used it to be out two or $3 steam about $3 reporter: and now? >> now i think about a dollars 25 cents, $9 pick they were going at minard's for about $13. >> david as you may know some houses have stopped building for a while because they said we can't price a house when we think you know we don't know what the price will be for the raw materials we are putting into that. you have a lot a lot of a wood here. >> it's available it's just a matter of the pricing is so high so hopefully there is relief coming, but not fast enough. david: jeff luck, to tell you the truth he would be happier with a hammer in his hand putting those logs together than holding a microphone. >> you have to have a backup plan in television, david. david: you have a good one in

terms of being a handyman. thank you, jeff appeared let's bring carol and luke back with reaction. carol, the fact is that it's having-- having a ripple effect throughout the economy, how much is the price of lumber and the price of all things involved in construction holding back the real estate market now because it is still doing well but it has come down. to the real estate market, is inflation one of the reasons? >> certainly, i think we are seeing this across the entire economy. the fed said this yesterday, they were surprised when you turn off the economy and turn it back on that there isn't going to be issues within the supply chain, so we are seeing that sort itself it self out and if you look at lumber it was not just housing, it was the fact that people were buying wooden pallets for refrigerators and all these things were interconnected so those certainly is having an impact in housing i think it will continue to do so.

it's having a bigger impact throughout the economy because central planners thought they were smarter than everyone else. david: luke, americans right now are flush with cash. they have a lot of money they have been saving through the pandemic because they have not gone to restaurants or trips and they are frankly getting a lot of money from the federal government. with all that money and with pent-up demand, they want to go out and buy things, maybe not an item as big as a house, but other things. will inflation, not just lumber but inflation at large hold back the economy because of that or are they so anxious to buy stuff that they will say the hell with it, we will pay a little bit more? >> inflation is absolutely one of the busy-- biggest risk to the economy. the federal reserve yesterday was a little more hawkish than was expected and acknowledged that inflation could get out of hand quicker than expected. they are still using the word transitory appeared to use the word

transitory until inflation is in your face and you can't ignore it because your pocketbook is hurting picked inflation is a silent tax on the middle class pick those that have assets to invest can weather the storm and hedge themselves against inflation. those trying to build wealth, also known as the middle-class loses purchasing power which means they save less and invest less and then productivity slows and the economy slows. higher taxes will cause the economy to slow and combine that with high inflation and you get double jeopardy. policy decisions from the government and federal reserve are more important than ever. >> david, the funny thing is though that they can't buy the things they want. we saw a retail sales numbers were down and it wasn't because there wasn't that pent-up demand, it was because people could not buy things like cars because the supply chain is screwed up, so i think that inflation will carry through because of the demand is there and when you can finally get your hands on something

you will have to make the decision because you won't know if you will have the chance to get it again. david: what will the decision be, i mean, will people actually put off major purchases because of inflation or the pent-up demand is it stronger than they are concerned about inflation? >> i think that's the multi trillion dollar question and unfortunately i think you will see a tale of two economies as we have been seeing. you have the opportunity to work through the pandemic to build up their wealth and the cropping up on the stock market and they will probably ignore that inflation make decisions, but for all the people that work for small businesses, small business owners and struggling communities won't have that luxury so we will see this continued dividing our country that is not because of capitalism, but because of government mandating and interfering. david: bingo. quick last word, luke? >> i completely agree with that we need to let the free markets work

properly and when the government gets involved, it's always a bad idea and the government has been so involved over the past year end a half that they really need to step back and let capitalism work properly because like carol said capitalism is not the problem, big government is the problem. david: frankly, their intentions are to do something, that's what politicians always think they have to do, but i'm hoping that gridlock will prevent that. i kind of like gridlock because it keeps them from doing stuff they shouldn't to be doing. luke and carol, great to see you thank you. coming up, why san francisco businesses are blaming state law for recent rise in shoplifting. we will be right back with that one. ♪♪

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david: president biden said to sign a bill today designating juneteenth as a federal holiday and i-- that has bank officials wondering if they could do business tomorrow. hello, charlie. reporter: as you know it will be a holiday and from what i understand it's been crossing the wires and friday will be a day off for federal employees and if that is the case than the federal reserve should be shutting down and probably the new york stock exchange, so we are waiting word from the federal reserve. the federal reserve doesn't shut down you know basically all the banks have to shut down tomorrow and probably the new york stock exchange. that will be pretty catastrophic to the markets as tomorrow's a big day for options pricing and banks have a difficult time shutting down imminently it becomes-- it's really a process oriented thing to close the banking

system, so here is what we are hearing behind-the-scenes. new york stock exchange, it's not going to celebrate the holiday this year. it will make an announcement at some point about what it's going to do in 2022 so the new york stock exchange from what we understand will be open tomorrow. tomorrow is a huge day of options settlements so again shutting down tomorrow would be-- it would throw the markets -- it would be turmoil on steroids what we understand from the fed is they will come out with an announcement today about their status going forward with a juneteenth. when i'm getting from my sources, senior executives at banks as they believe the fed will be open tomorrow. they believe they are operating under the assumption that everything is going to be-- will run as usual and again, there will be some sort of prospective announcement about juneteenth in 2022, as a national holiday so they

can get their ducks in order. there was a few hours here, david, where people were like what's going on, is the banking system going to be open tomorrow because it was essentially very hasty. it was signed and there was really no effective date. president biden immediately-- the white house started to leak about tomorrow being a federal holiday for federal workers and if you work at the federal reserves you are a federal worker and if the federal reserve's closes it's hard for the market to stay open. banks would have to close. one banking executive told me that it's not like turning on a switch if you want to close a bank. literally, there are these processes because there's custodians and money and global training, i mean, it would have been all hell david: we are waiting on an announcement. by the way it is the 19th, which we should say is the anniversary of emancipation of the slaves. it's a great anniversary

and this year it falls on a saturday so it doesn't necessarily mean that you have to cancel saturday celebrations just to keep the banks open tomorrow. >> i think the bigger issue was when the white house leaked that it was going to-- that federal workers would be off tomorrow on friday. we should be celebrating this holiday. when that happened, that's when people were like my god, the fed is not going to be open, how do you close down a bank, it was just crazy. david: one would have thought-- >> what is funny about the story or a little scary is that for a couple of hours people were really worried that the light switch would have to go off immediately and what the hell with that do. david: that's called a snafu, ladies and gentlemen. thank you very much, charlie. after the break in florida is joining efforts to shore up our

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david: well, 'some san francisco businesses now blaming what they call weak state laws for rampant rise in shoplifting epitomized by the one used in the left-hand side of your screen. claudia has the details from san francisco. reporter: hello. some stores tell me they see this happen every single day with shoplifters taking whatever they want even with security guards there and even with witnesses filming it on their cell phones. in most cases, nothing happens. of the owner of this corner market in san francisco tells me he has been broken into 14 times over the past year despite 32 cameras that he says catch criminals all the time. like this thief who smashed a back window to get inside and left with cash and electronics. another time a man takes food containers and as many drinks as he can carry and walks right at the door. they blame a soft on

crime district attorney in a state law that lowers the penalty for nonviolent theft under $950. he says there is no deterrent. >> what they are doing is just promoting this. 950 or 1000 or 2000 doesn't matter, they get away with it. reporter: usually no one gets hurt, but a 72-year old retailer lost an eye when it would be thief stabbed him earlier this month. thanks to that store surveillance video police made an arrest, but usually the suspect is long gone by the time police arrived and in many cases fencing their stolen goods on the street or online pick a spike in organized retail theft prompted a hearing at city hall and executives from walgreens and cvs as a san francisco is far worse than any city. walgreens has closed 17 stores in the past five years specifically because of shoplifting. the owners of smaller stores like this one say

they cannot afford to hire extra security and are basically left to fend for themselves and hope for a day that brings a more coordinated police response and much tougher penalties for shoplifters. david. david: small businesses have been through so much over the past several months if not years it's amazing we are going through this. meanwhile, sending how to our southern border, florida governor ron desantis announcing plans to send local law enforcement officers to texas and to arizona, other states to respond to the border crisis. reaction now from republican tennessee senator marsha blackburn this is stuff that the federal government is supposed to be doing, senator, not local governments helping other local governments. >> david, you are exactly right here here's what's taking place, because of the open border and the uptick in drug trafficking, labor, work

crews and games-- gains, sex trafficking, now every state, governor desantis is looking at this saying how can i help out because we are feeling the brunt of this with migrants being moved into our communities and the communities in the state are having to pick up the tab for education, childcare, children's services, healthcare, housing, social services , all of this is landing on their expense line. so, now you are going to see governors down here helping these local law enforcement who are having to patrol the border because border patrol and i.c.e. are completely overrun i mean we had 183,000 that were apprehended in the month of may.

that does not count the got a ways these governors don't want to see these drugs on their streets the community knows it's a humanitarian crisis. the children, the women coming through have been so traumatized and so abused that they are in need of a very high level of service. david: the administration would not use the word crisis for many months and i think they still occasionally comes out of their mouth, but it's now a national emergency, i mean, this is beyond crisis. i do want to switch gears if i can, senator. dr. fauci again denied scientist deliberately suspects the covid lab leak theory. listen so i can get a reaction. >> we always felt you have got to keep an open mind. so i think it's a bit of a distortion to say that we deliberately suppressed that. david: do you believe him, sena? >> my goodness.

he's whining like a victim and dr. fauci is not a victim. he has flip-flopped all over this, whether it was the lab leak theory, whether it was looking at the origins of covid, whether it was where a mass, where two masks, where no mass, whatever and the point is he has lost his credibility with the american people this is someone who needs to be removed from his post. congress needs to investigate what has happened because we have over 600,000 americans who have lost their lives because of this virus. we have hundreds of thousands who have experienced sickness, have lost livelihood. dr. fauci is going to need to come to congress to be put under oath and to tell the truth, the whole truth, nothing but the truth, not one thing to his colleagues and another thing to the american people. this has to stop. david: i want to switch to yet

another country if i can and that is russia and their cyber attacks. a lot to talk about there, but one thing specifically, we know our cyber command did do a counter attack in 2018 and another in 2020 during the trump administration. i had a congresswoman on yesterday who suggested that the administration is telling cyber command to step back a bit from the counter attacks. are you hearing anything like that? >> we have not heard anything about stepping back from counterattacks , by joe biden is completely naïve if he thinks he can put down 16 industries that you cannot hack, hand that sheet of paper to vladimir putin, stand there, make a photo and that putin will honor when joe biden has asked him to do. this was ridiculous. it was an embarrassment to i guess, you know, he can say hack here, but do not hack there. that's not fair to american businesses, organizations, the american people or the

taxpayer who is footing the bill for every bit of the. david: in about an hour, he will be speaking, we are told, and he may have a chance to walk that back or clarify that. we have to leave it there. senator, great to see you. >> thank you. david: quick market check with the dow jones coming back a bit after being down over 400 points earlier in the day. it's now down to about 200, still a bad day for the dow jones. we'll be right back. ♪♪ ... with spring comes rebirth. everything begins anew.

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david: we've really got a tail of two markets here as you can see the nasdaq is doing very well up 127 points is almost a full percentage point. the dow is down about 400 earlier, it looks like the green on the screen was bringing the dow out of the doldrums it's still negative but not so bad and it's time to pass it over to charles payne. charles all yours. charles: what an exciting day thanks so much, good afternoon, everyone i'm charles payne. this is "making money" and breaking right now so there's a lot of disarray in the markets and a lot of momentum changes today. commodities are now swooning, bond yields are tumbling too the dollar is stronger but here is the proclamation lemont that's not great for multi- nationals. value stocks, growth stocks are edging higher and for all of the fed hikes, i've got more proof that sticking with the fundamentals is the best way to invest in the market, plus the great worker shortage leading to a showdown between employers that i think will change everything.