tv Cavuto Coast to Coast FOX Business April 5, 2022 12:00pm-2:00pm EDT
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samoas are better but thin mints. stuart: i'm going with it. rifoils. i like the name. the answer is thin mints. they make up 25% of all girl scout cookie sales. 25% go to thin mints. i have three or four seconds to go but i will spit out. neil, it is yours. neil: i can't stand the thin mints. they're the worst of the bunch. i guess i shouldn't be surprised. >> it is cannoli. >> that is pricey. the girl squats said we will never make money on this. napoleons, thin mints, they combined them. we're following twitter. what is that expression, you keep your friends close and enemies closer. elon musk becomes the a board
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member on twitter. the shares were up 27% today. they're continuing that pattern today. up an additional four% here. indications are that management asked for him to come on. he didn't emanned it. asked for him to come on. maybe they welcome some of his ideas. we still don't know whether he will push to bring donald trump back to the social media site. anything is possible. kelly o'grady following the fast-moving developments of mr. musk, what he might or might not do there. she is in los angeles with more. kelly. reporter: hey, neil, never a dull moment out here on the west coast. twitter critic elon musk now has some skin in the game. users predicting this cobe a win for free speech since musk's financial stake and board position considerably boost his influence in twitter. the term will run through 2024. musk said he will not acquire
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more than 14.9% on the board and 90 days after. to prevent him from a getting a hostile takeover. the ceo said he is passionate believer and intense critic of the service exactly what we need on twit and the boardroom to make us stronger. musk tweeted significant improvements to the service in coming months. not clear what improvements musk has in mind. he suggested that the platform does not allow free enough speech. twitter is fay h facing backlash for selective censorship. they stopped the hunter biden story but russia propaganda still is allowed with the war raging. seal lon won't be buying twitter for now. ultimately it doesn't fit into the broader portfolio of tesla and spacex. additionally the stock shot up 25% and far more expensive takeover in few days ago.
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assets are primarily tied up in stock. this allows musk to be a critical voice at a time of defacto town square to make changes within without drawing unnecessary heat for the government. musk will be a transparent voice within twitter so grab the popcorn. neil: i made a billion dollars off of this. that is not too shabby thank you very, very much. kelly o'grady. meantime back in washington right now the focus on energy executives. all of one for the time-being today but the whole herd of them tomorrow. of course the administration just raised the possibility, the energy guys are not doing enough to help with rocketing costs for gasoline all but saying they're the reason why we have the problem we do. get the read from hillary vaughn following all of this on capitol hill. hey, hillary. reporter: hey neal, energy groups are lashing out at the biden administration for saying
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they are the reason, they are to blame for gas prices rising at pump. western energy alliance president, testifying on capitol hill, they eprepresent 200 small oil and gas producers. they say president biden's energy policies are discouraging production and not promoting it and also criticized his cities to draw from the strategic petroleum reserve. >> so can you tell us, can you discuss what potential impacts could occur if the u.s. continues to empty those reserves? >> it would be better for us to encourage that production of a million barrels a day than to drain down our petroleum reserve which we then have to at taxpayer expense fill back up again. why not just encourage production from the american industry? reporter: the group told lawmakers today they need more financing to develop existing leases and drill but some senate democrats are not buying that.
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>> that is hundreds of millions of barrels of oil they're not drilling for right now. even as we see their crocodile tears being shed about how they need even more leases. they haven't finished what is on their plate yet. they have not begun to use what is on their plate right now? reporter: top executives from russ oil and gas companies, bp, exxon, shell, will head to capitol hill to address accusations they are price gouging in the lead-up to that. in lead up american energy announced a five filling campaign calling out for the biden administration sending mixed signals on energy production. the ads will air in 12 states nationwide and d.c. neil: thank you for that, hillary vaughn. oil right now a little bit softer today. it was picking up on the sanction pressure that was building on russia would take oil, more oil off the market
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sooner rather than later. it slipped a little bit on the idea that could prove easier said than done. let's go to kenny polcari on all of this, slatestone chief market strategist. kenny, good to see you again. you know when americans are polled on this subject a good plurality suspect maybe these guys are gouging us to focus on the oil guys, not the white house guys is working. what do you make of that? >> i'm not so sure i believe they're price gouging at all. the price of oil is the price of oil. traders and investors will take it where supply meets demand. right now it is $102 a barrel. the oil industry, energy industries has come under fire because of biden policies. i think certainly the biden administration can help to ease some of that and help to bring more oil from the u.s. remember we were the largest producer. we were a net exporter of oil. we were the swing producer under
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the prior administration. it suddenly has changed. i would put more of the blame on current administration policies than i would on the industry itself. neil: kenny, i always remind people that oilfies like to make money. so even if you have the dimmest view of them, that they might be sort of hedging their bets, at these prices they could be making money and are hand over fist. anything that could encourage more production to make even more money they would do. the fact is the number of licenses and leases we're talking about are down dramatically from 30,000 more or so a year ago. they are taking advantage of these leases. they buy leases or rent them on a bet. they can't all be gushers. because people don't know the ins and outs of the oil industry and how that pans out and history of you know, the cabal, whether they're rigging prices that has been tried no less than a dozen times over the last 40
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years. not once, not once has it been proven but here we go again. >> right. but look, i think a lot of it has to do with the red tape that goes along when they apply for the leases. neil: absolutely. >> they can turn them around relatively quickly. it is the government bureaucracy holding up leases that prevent them from moving ahead. neil: kenny with, we know the oil stocks have done well. they have stabilized since the president announced tapping the strategic petroleum reserve. are they a good bet when you look at invests, stocks that have a bright future even with their big run-up. there is still more to come? >> yeah. i continue to own energy. i'm not chasing it up here. i think it will come in a little bit more. but i don't think, i think mid 90s is the best we're going to get. i thought that would happen early in the week when we broke
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100 but now we're back above it. listen, in the long term if you expect inflation to be an issue, energy is one of the sectors i continue to believe in. i continue should be part of anyone's core portfolio. i would be selective. i wouldn't just buy it haphazardly. big megacap names with big dividend payers that give you exposure. neil: people forget, they pay as a group a hefty dividend. that is the stuff that retirees, orphans all that stuff, attracts them. not just the province of the elite. >> right. neil: i'm curious what you make also of the federal reserve in its thinking on inflation right now? lael brainard a fed voting member of the federal open market committee, says she is concerned right now that inflation is picking up steam. it is time for faster balance sheet reduction. i'm wondering what you make of that? because i wouldn't call her
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necessarily a dove but she is more dovish than a lot of her fellow fed members. this is in keeping with more and more fed district presidents and officials now saying we got to get in front of this, maybe a half-point hike at the next meeting. maybe another half-point after that. where are you on this? >> listen, i think it's, i think it's telling right? while you may not call her a complete dove she was certainly on the dove side of the argument and i think as a lot of them were. i think her comments today speak right to the fact that she is now acknowledging what we all know has been true for a long time, right? i think these signals started last spring, early summer and the fed was playing "dumb and dumber," right? they were telling us none ever us knew what we were doing, it is transitory, nothing to worry about. meanwhile they all come around. jimmy bullard has been the most vocal. mary daley been on the dovish
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side of the equation came on dovish side lately. brainard's comments come to the core of it. they're behind the eight ball. inflation is a problem. they need to make more aggressive moves. goldman put it out they think four, 50 point races may, june, july september. that will take us 2% before labor day or right after labor day. neil: how does the market digest that, kenny. they want the fed to get ahead of this, i get that. >> right. neil: sometimes when it does what the market wants the market will still have a tantrum about it. how do you think the market -- >> might have a tantrum about it but what are you going to do? at some point you got to get ahead of it. neil, you and i remember the '70s when inflation was 10 to 14%. inflation was at 18%. fed funds are still half of one percent. neil: very good point.
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very good point. historical norm is that at least five times where we are right now. >> exactly. neil: so while i have you i wanted to pick your brain ever so quickly on the twitter situation. the authorities are looking into the unusual trading in options on twitter ahead of this news. is there any there there? we often hear this when there is a run-up in a stock, what was happening right before that but what do you make of it? >> no. listen i think they should. i think the signals out there are clear somebody knew something somewhere along the way because the activity happened in thursday and friday in the call options is just a huge red flag. so wherever it came from, wherever the lead came from it is i think appropriate for sec who knew what, who was buying them because they were big sweeps, big, big sweeps, much more than what would be considered normal. i think, you know, whoever participated in that, or if
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somebody did have inside information. they put a huge flag out there saying look, look at me! so the sec should do exactly that, they should be looking at all the activity, who knew what, who was connected, how did they hear it, who did they hear it from? neil: kenny, always appreciate talking to you. be well. >> you do. neil: don't do that age reference thing again, kenny. i do remember the '70s and all that. he is right about that, think what is happening now versus what was happening back then. interest rates should be a whole lot higher in this environment. so we'll see how that sorts out. meanwhile we're hearing about more sanctions being considered against vladmir putin but this is a new one, just coming in from "the wall street journal," that the eu is planning to sanction two of vladmir putin's daughters. this is quoting some diplomats familiar with the proposal. now we don't know the distinction here going after the daughters. they own real estate all over the world. their father is after all
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multibillionaire. of course he has invests all over the world but they might be trying to go after the daughters to get to him. we don't know much more than that but, sometimes when it comes close to home it comes close to really hurting. we'll have more after this. ♪. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it.
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>> translator: the russian military and those who gave them orders must be brought to justice immediately. the united nations cannot simply be closed. ladies and gentlemen, are you ready to close the u.n.? do you think that the time of international law is gone? if your answer is no then you need to act immediately. neil: all right. the president of the united states agrees with him on acting immediately part. now entertaining a new wave of sanctions that if we're getting this original press report out of "the wall street journal" on the eu, for example, it will include targeting vladmir putin's daughters. let's get the latest now from edward lawrence at the white house. edward. reporter: at the moment, neil, that seems like a proposal going after president putin, the russian president's daughters but what the european union is
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going to do looking to ban coal coming from russia. also banning exports of machinery going to russia as well as looking at banning shipments, road shipments from russia into europe but that has some exemptions on it. there is momentum growing for ban on russian oil and natural gas but the 27-block country would have to vote on that and they have not pulled the trigger on that particular point. the truck shipments banned would be humanitarian aid and fossil fuels. this morning the secretary-general of nato confirmed because of images coming out of bucha, ukraine, russia will pay the additional costs but there will still be no nato troops set foot in country to protect civilians. >> we will discuss how we can further support, what more we can do to support ukraine including what kind of costs, additional costs we can put on russia. i welcome that our allies discussing more sanctions but i don't expect any ally to be in
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favor of sending nato troops into ukraine. reporter: so the u.s. is already banned russian coal and imposed export controls on technology going to russia and along with other countries they have banned oil from russia coming into the united states. so yesterday security advisor, national security advisor jake sullivan confirmed that the u.s. will additional sanctions in coordination with europe. >> sanctions are intended to impose costs so russia cannot carry on these grotesque acts without paying a severe price for it. the other is to have an effect on russia's behavior over time but as president biden has made clear repeatedly we don't expect that shift in behavior will be caused by sanctions overnight or in a week. reporter: two new russian banks will be removed from the swift system. that is the transaction system worldwide. that is controlled by europe. so the european countries would have to decide which get removed
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and now two new banks are removed from the system. neil: thank you, edward lawrence from the white house. chinese weighed in on these additional sanctions, essentially saying they are a waste of time. not a shocker there but the chinese ambassador to the united nations there saying sanctions are generally not effective in solving the ukraine problem. claudia rosett is probably not surprised by that chinese announcement. claudia, it is fair to say that china and russia remain in lockstep. we don't know the extent of china helping russia through this. it is already a willing and eager buyer of that russian oil that might be funding a lot of the activities we continue seeing out of russia. there might be other ways it is helping we don't know about. what do you think of all that? >> i think, look, sanctions, why not? but they're not going to win this war. what ukraine actually needs right now is what president zelenskyy is asking for, heavy
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weapons, if, nato will not step up and actually fight with them then give him everything he needs. this is a war. the sanctions may make an impact especially up front but neil, they will erode. we've seen this over and over. putin is playing a long game here. he is for big stakes and the sanctions won't stop him. neil: you know i followed very closely what putin did right after taking crimea and he set up this financial system for lack of a better term called mir. it is a way around at the time some of the sanctions and restrictions that the western world was sort of putting on russia. he perfected it to the point we're told by some financial analysts and oligarchs that turned on him, this provided a separate rail to keep his country financially going. i don't know whether an effort right now to go after more
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financial transactions in the foot and even to try to limit how much he can pay off debt with money held, sovereign debt held in u.s. banks but i suspect he has got workarounds? >> look, human ingenuity is amazing on things like this, he will have more and more workarounds as time goes by. the thing that most worries me about this sanction they become a fig leaf for a u.s. administration not doing things that really need doing. in other words more sanctions but slow-walking the weapons that he needs. he is fighting a war. he just showed the most grim, horrifying video to the u.n. security council of murdered ukrainians by the russian military and that's what needs winning, neil and the problem again with sanctions and things like kicking russia off the human rights council, okay, fine, a good move, why not but
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we should not mistake them for the truly effective action that is needed to win this war and it is really important that ukraine not make a deal, not make a partition but win this war. neil: claudia, you made a reference slow walking the military, i think i'm quoting you correctly. you're not the only one that feels that way. general jack keane has been wondering aloud whether the administration really wants the ukrainians to win. now when president zelenskyy was asked about that on the subject by our own bret baier he kind of indicated, i hope it is not true, i'm paraphrasing here but he wondered allowed that is it could be. do you think that is really the possibility we're so afraid of vladmir putin losing, what he might do if he does that we don't really want him to? >> it's a very valid question. look, huge bureaucracies and establishments don't like
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change. that means they have to recalibrate. remember boris yeltsin was unpopular in washington as the soviet union headed for collapse. people in the long-term, establishment dealing with the soviet union were afraid of what might follow and in this case we also have the iran nuclear talks going on which are really running counter to ukraine's efforts to win because russia has great leverage. u.s. has given russia great leverage at those talks. there are signs that get me worried that the biden administration is hoping for some sort of deal which will not actually either to ukraine's advantage or to the free world because that what is ukraine is really the front line of right now. so i think general keane has a very valid worry unfortunately. neil: yeah. i remember you first raising the subject when no one was talking about it. claudia, thank you very, very much, i think claudia.
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i think a lot but worry a lot after we fin you are our conversation. claudia, thank you very much. i want to bring quick attention before we go to the break, the dow is selling off a little bit about 127 points. we've been watching the dow transportation average. it is down about 4.7%. it is looking at its worst day in almost two years according to our charlie brady. what is interesting to note if i'm counting correctly this is the fifth straight loss. at the rate we're going it bears watching because there is something called the dow theory that monitors how transportation stocks do. they include rail concerns, marine concerns, planes, you name it, and the thinking goes something like this, if there is a pinch in this sector it could pack preview to coming attractions. if things slow down there we've got to worry about things slowing down everywhere. it is not always a bulletproof accurate read of where the markets are going but if you're one that get nervous about
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trends that worry when the transportation average is falling, you buy the dow theory, the theory goes something like it starts with the stuff that moves and hits the rest of the market that ultimately stops moving. we'll have more after this. you know liberty mutual customizes your car insurance, so you only pay for what you need? like how i customized this scarf? check out this backpack i made for marco. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪
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♪. neil: well if i remember correctly chad pergram had said this judge jackson nomination was going to happen and would likely going to happen this week. it seemed unthinkable at the time but it is all coming together, the exact timing is anyone's guess but chad joins us on capitol hill with more. chad, where do we stand in this whole process? reporter: we're thinking toward the end of the week, neil. only 115 jurists ever served on the high court in the history of the republic. if senate majority leader chuck schumer gets his way that number could be 116 as early as thursday. the senate will likely move to break a filibuster on thursday
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on the nomination. confirmation could come just after this. >> untold millions of kids will open textbooks and see pictures of justice jackson and understand in a new way what it means to move more toward as perfect union. it means all our nation's struggles, for all the steps forward and steps backward, the long march of our democracy is towards greater opportunity and representation for all. reporter: but the gop accuses democrats of playing identity politics when it comes to minority nominees who aren't liberal. >> clarence thomas, one of the most decent human, to ever serve in the federal judiciary, one of the most decent people i know, who was attacked by the left, attacked by same democratic senators make comment today. they didn't call his nomination historic. it is only historic with someone they like and agree.
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reporter: republicans litigating old fights for criticizing gop for not supporting jackson. if all senators vote, 53 yeas for jackson. 3g op members will vote yes. lisa murkowsky, susan collins and mitt romney. >> in her previous confirmation vote i had concerns whether or not she was in the mainstream. having spent time with her personally, viewing her testimony before congress, became convinced that she is in the mainstream. reporter: justice amy coney barrett secured 52 yeas two years ago. the senate confirmed brett kavanaugh on a 50-48 vote in 2018. neil? neil: thank you very much. chad pergram following all of those developments. you know barack obama is going to be visiting the white house today. it is the first time since he left the white house what, five years ago. but it is for a good cause and a good purpose, to commemorate
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this special event. tell me if you remember this. >> ladies and gentlemen, the president of the united states of america, barack obama. [cheers and applause] >> [bleep] neil: yeah, that was 12 years ago. and of course then vice president bide celebrating the arrival of the affordable care act or obamacare as some called it at the time saying this heralded a new beginning in this country. the president and former president will be celebrating that moment. as the president, this president, the current president announces expanding subsidies to help families take advantage of what hopes will be a revamped, expanded affordable care act. hans nichols, with us the "axios" reporter. hans, we forget the significance of that day and that event not just because of the language used but it was supposed to start. what we learned later is that president obama, you know, took
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a great deal of political hit, or at least his party did in the midterms. >> sure. neil: but it was, it was in place and despite a number of court moves and a number of challenges it is still in place. so this meeting today, what do you expect to come of it? >> well, there will be a little bit, neil, on cosmetics expanding, maybe cosmetics is not the rightrd word, eligibility expanding of aca exchanges, for health insurance if you can't afford your employer-based health coverage there is more there tweaking it. the big push the white house wants to do, transparent about it, expand exchanges, more money, more like $130 billion in the "build back better" program that joe manchin sort of torpedoed. that was in there. they want to get more money to the states of expanded medicaid.
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there are a dozen states, mostly run by republicans who haven't taken money to expand medicare for those a little bit above, i'm forgetting the actual thresholds, but above various poverty lines. this is victory lap. 30 million more americans are eligible for health insurance as a result of the affordable care act. they do recognize they want to sort of keep adding more money to it to make it, make it remain viable. just one quick thing on politics. look, obamacare used to be sort of a pejorative. used to be a way for republicans to sort of mock the whole process. now it seems like including the former president and this president, the current president, they embrace obamacare. they like the name. it does appear to be here to stay at this point. neil? neil: i can always remember the time when nancy pelosi would call the affordable care act, affordable care act. she winced at the obamacare thing. that was then, this is now. i caught your comments over the
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weekend, i forget what show you were on, cnn. that is okay. you probably thought it was fox, oh, what am i doing on cnn? anyway you talked a little bit about the environment for joe biden right now and addressed the perennial concern. i want to go to that tape. >> everything the president just said we just listened is true. it is largely irrelevant. there is one number they can't really change right now, that is what the placard says at local gas station. that number is high. that is a daily jobs report that voters, american consumers see every day. there is nothing the white house can do about it other than bring down the price of gasoline. neil: that has not happened, right? that has spilled over, obviously as you reported way beyond what is happening at the gasoline pump. that is a bit of a backdrop to this ceremony at the white house today. >> yeah. neil: where do you think all of this is going? because americans by and large you know, are losing confidence quickly in this economy even
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though the underlying economy is still pretty good? they just fear it is evaporating. what do you think? >> i don't know if this is allowed, allow me to revive and extend my remarks from another episode. my emphasis should have been more on largely irrelevant. the job gains are real, right? for people that lost their job, lost their job during the pandemic, jobs have come back. that is sort of a crucial aspect of the recovery that i think everyone should celebrate. the white house is however struggling with this larger question of what to do about cost increases, price increases inflation because a lot of the wages and wage gains we've seen for people fortunate enough to found jobs come back into the economy, they're not seeing their purchasing power increase. and that's why there have been a slew of focus groups, a slew of calls, a whole host of anecdotal data, hard, cold, information, that voters don't think the economy is as good as the president keeps telling them about it. now a lot of presidents have this challenge, where they try
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to talk up the economy, say the economy is in better shape and voters don't necessarily feel it. it is doubly difficult when you're facing the kind of inflation they're facing. then you look at it geographically where inflation is highest. neil, it is in the battleground states the president will need to do well in to have his party control congress after the 2022 midterms. neil: i'm glad you made that distinction, battleground states. that is something fox business can hang its hat on, what you told us, for example, what you told cnn. always great seeing you and i can freely kid with you. i appreciate that. all right, hans on all of those fast-moving developments. we're on another one in the world of golf. tiger woods will play in the masters. go figure, after this. ♪
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>> you said countless times throughout your career you don't enter a golf turnment unless you think you can win it. the question is simple, do you think you can win the masters this week? >> i do. neil: the big shocker of the day that tiger woods will play in the masters, how far he goes anyone's guess. matt napolitano would know, fox news sports 24/7, encyclopedia for all these matters. what impact will he have at least opening day, strong ratings? >> the fact of the matter, already, practice rounds of augusta national, it looks like a sunday on augusta national. people are ready for tiger mania, ready for him to come to the course after the near fatal car accident. this is matter of for tiger he doesn't wanted injuries to say how his career ends. take the course one more time, show he can go further. will it lead to ultimate retirement? i don't think so.
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that will be definitely a stretch. this will be a scale of a new career we'll see him a little less but deliver a little more in a sense to the level of publicity. neil: the ratings not with standing. say he doesn't make the cut after the opening two days, you're kind of robbed as a tv viewing audience seeing him, right? >> yeah. you know will take away a little bit but here's the thing with tiger woods going into augusta national he has won the tournament five times. looking for a record-tying sixth, tying with jack nicklaus, all time golf legend at augusta national. he is going in as a man on a mission. if this were any other golfer, neil, 46 years old, coming from near fatal injuries, everything he goes on a back surgeries, knee surgeries we shrug it off he is coming ba into this tournament. neil: you're right about that, matt napolitano, thank you very much, my friend.
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meantime we're focusing on the border right now, the fear come next month around this time it is going to get a lot more dicey, a lot more, after this. ♪. buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪
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pretty soon this could be a common sight, migrants caught at the border being released into the united states literally a busload of them in texas just today. bill melugin following all of that in brownsville, texas. bill? reporter: neil, we had heard from federal sources that the federal government was going to be mass releasing groups of illegal immigrants here at this parking garage behind us today. sure enough, the buses have been arriving on schedule. look at video we shot on schedule, the first bus to arrive. you will see first the group gets off the bus is a group of single adult men. there are no families, no young children with them. these men walk into an office with a back tarp set up around it. the second group, it is single adult woman who are walked off the bus as well. why is this happening? my sources tell me border patrol is way overcapacity in the area and they got to clear space out. so they're doing mass parole releases. what does that mean? parole means the migrants get no
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immigration charge. they are essentially released and asked to please turn themselves into i.c.e. in a city of their choosing within 15 days. now these releases are non-stop. i'm told there will be several hundred people released today. it has been happening the last couple weeks. if we pull up these photos right here, my sources tell me many migrants are given government issued phones instead of ankle monitors. i'm told the phones are meant to help track them to, allow them to communicate with i.c.e. but i'm also told there is really nothing stopping these migrants from discarding the phones if they don't want anything to do with them, possibly just disappear into the country. the former chief of u.s. border patrol tells us there is no way of knowing if any of these migrants have criminal histories outside of the united states. take a listen. >> we do have access occasionally to some international criminal databases but that's rare. for the most part we're, they're only able to run the records checks against u.s. criminal databases. s in they have been in the u.s. committed a crime, we'll not
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have any idea what they did in another country. reporter: neil, border patrol sources telling me we can expect between 200 and 300 people released here at this single location today. again i'm told this has been going on basically every day for the last two weeks. you might remember back in january, we essentially saw the exact same thing happening, the mass recess of hundreds of single adult men. everything we're being told is once title 42 drops, you can expect all this to explode much, much worse. back to you. neil: thank you very much, bill melugin. that is what worries my next guest, one of three attorneys general, those from missouri, louisiana and his state, air -- arizona, giving up on title 42 as bill pointed outgoing away middle of next month. attorney general, very good to have you. this is set to happen. you don't want it to happen but right now it's still on. is this suit an effort to stop
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it mid-path or what? >> yeah, absolutely. thank you for having me on again, neil. this lawsuit is all about trying to protect american communities by stopping the biden administration from removing one of the only tools we have left in our tool box to prevent an even further flood and catastrophe at our southern border. we've already seen a record amount of people illegally enter the country. as bill alluded to in the package we're expecting to see a surge of more than 500,000 people illegally enter our country in one month. it is like the entire population of like baltimore or atlanta coming into our country illegally in one month if title 42 is lifted. neil: one of the things you hear from those not keen on title 42, well look at the surge at the border now and that is with title 42. what do you think? >> it is one of the last remaining tools, title 42 has been used 1.7 million times.
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we know two million illegally crossed the border last year. we're talking essentially double number of people. i was at the supreme court six weeks ago, neil, arguing public charge where biden administration illegally with drew that eliminates government benefits to welfare, housing to people with no illegal status. what we're seeing a systemic attempt by the biden administration to essentially destroy our southern border and empower the cartels and it has done that by decriminalizing, removing any consequences for breaking the law. now they're trying to essentially incentivize, stop only thing deterring even more people from the illegally entering our country. neil: general, what is the procedure now? for example, this busload of migrants arriving in texas today, i assume they're processed. i assume they're not jailed but i don't know for sure. what happens to them as they're here? >> well, neil, your guess is as good as mine. that should trouble every
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hard-working american taxpayer. i will tell you a really quick anecdote. i used to be a federal prosecutor and i was talking to one of my former colleagues at doj and he was telling me there is a group of iranians were apprehended at our southern border in arizona, more than a dozen. before federal officials could debrief and talk to them, they were released. they have no idea what the people were doing, why they were coming here or where they were at right now. bill in the package talked about the phones they're getting. people are cutting off ankle monitors. you can throw away a phone. this is why the cartels use burner phones. you can drop them, can't figure out where they're at. we as americans are paying the price for the failed biden administration policies whether at the gas pump, whether at our grocery store. now essentially with felons and those charged with serious crimes being allowed into our neighborhoods. neil: all right. keep us posted on it. attorney general mark brnovich of arizona along with his colleagues in missouri and
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louisiana trying to stop this from happening. as things stand now what will happen next month, may 23rd. keeping you posted. keep you posted on a selloff continues to gather steam in the transportation average for those that support something called the dow theory. they include rail stocks, transportation stocks, marine terminal stocks, as though go so essentially goes the economy. not quite as important a sector as the early days they came up with this but it is in a world of hurt right now. we'll have more after this. ♪. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back.
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neil: taking a look at the reaction from the united nations now that president zelenskyy address them and said as he made it globally he's talking to the u.s. congress representatives and employed right now taking a look at the state department. this idea right now that zelenskyy is making his pitch and the concerns that he has
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that the order is coming but the good deal has not arrived. >> they have not arrived there's delays upon delays in the united states and overseas in europe. zelenskyy wrapped up another plea if you will to the international community, he is warning that the atrocities that recently uncovered with russia's withdrawal around kyiv may not prove inside bucha 300 civilians have been tortured and killed and there is evidence of it. take a listen. >> they have yet to see what they've done and other occupied cities and regions of our country. geography might be different but cruelty is the same crime is the same in accountability must be
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inevitable. >> the killings have spurred worldwide outrage and power including from president biden, that is linda thomas-greenfield, she doubled out of the president's accusation of war crimes in front of the entire general assembly. >> reports indicate that russians federal security agents are confiscating passports and ids. taking away cell phones and separating families from one another. i do not need to spell out what the so-called filtration camps are about. it is chilling. >> she is now calling for russia to be kicked off the un human rights council received international law and penalizes violators who are guilty of war crimes. take a listen. >> russia should not have a position of authority in a body whose very purpose is to promote respect for human rights.
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not only is this the height of hypocrisy. it is dangerous. >> kicking russia off the human rights council may be like the obvious next move for the biden administration but it is far from a done deal. in order for that to happen we will have to get the u.s. an additional 129 on board in favor and vote on it at the un. it'll be tough because russia itself opposed all of its allies around the world. neil: incredible. thank you very much. meanwhile were keeping eye on the white house not only because were getting word that by tomorrow the administration is going to have the details on sanctions and punishment of russia but it is going to be celebrating today and roughly in anniversary 12 years into the affordable care act. special guest of honor will be barack obama. >> the former president of the
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united states of course in joe biden's old boss meredith with more on that at the white house. >> afternoon, as you can imagine president biden is expected to offer wild welcome to his former boss former president obama the event getting underway a little later focusing on obamacare and expanded under the current administration, as you mentioned it's a little bit more than 12 years since it was signed into law, the controversial and sweeping legislation has withstood several court challenges a multiple repeal attempts by republicans in congress, today the white house is expected to outline how families can receive financial assistance with their obamacare plan. as you mentioned very historic obama's first visit back to the white house in january of 2017. the biden administration officials say the former and current president speak often but not a lot of details on how the conversation takes place. >> it is not a relationship of obligation it is one way they develop a deep and close
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friendship through the course of their time serving together and that his continued. >> some pundits believe today's visit could give the current administration a boost in the pulse president obama remains popular and may even play a larger role in helping democrats get off in the midterm election. a poll that came off last week said the biden administration approval rating is down significantly from a year ago only 38% of registered voters and 55% survey disapproving that came out last week. the white house was asked about that pole number yesterday, the press secretary shrugged off the question saying their focus on policy and i imagine we will hear more about healthcare policy in the past as well as in the future and what they can do with obamacare a little bit later on in this hour. neil: thank you very much mark. it's at the white house. a little bit down in pennsylvania by the end of this
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week. ketanji brown jackson, three republicans have already indicated that they're going to support mitt romney and lisa murkowski and susan collins of state of maine. my next guest the ranking member of the judiciary committee is not among them chuck grassley joining us right now. it you and as she'd be a no vote on judge jackson what was the deciding factor for you. >> the deciding factor is. she would take advantage of holes that congress leaves in law intending to legislate from the bench where congress responsibility in the past laws. it seems that she is not following original intent with constitutional writers that is very important to me relatively soft on crime and another example a specific and so specific example interpretation of retroactivity in the criminal
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justice reform act i wrote she used to reduce sentences and just to give you some examples of where i'm coming from. >> we surprised mitt romney to go on the public court but did for the supreme court. >> that is very odd in the case of pork and some other people on the supreme court now. a lot of times they would get into the d.c. circuit court of appeals, almost unanimously but they would not get on the court or if they got on the court there was a lot of chain votes against them. this is kind of the opposite when he voted against her to be on the d.c. circuit, i am not surprised mitt romney is very independent person, you have to respect that independence of any individual senator and did not
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question why they are doing it. i've great confidence in mitt romney, i disagree with him on some policy issues but he is a very good senator. >> senator you are running for reelection and we have a big white house that doesn't celebrate the affordable care act. your opponent is running against you and we pointed out again and again, that you tried to dump the affordable care act no fewer than a dozen times you have not held that back you argued. is this issue worrisome? >> not more. i did vote as you indicated and i did it because we ran the 2016 election on that, we did not deliver on that promise just because of one vote in the united states senate and the law of the land of obama we will try
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to improve as we can but i don't see it as an issue because we are not running on a platform, we are running on a platform of improving healthcare in the united states. i thought with his administration to get 65000 iowans continued for another year on the relatively cheap transition program. or i am fighting to the grassley wyden bill to get prescription drug prices down. which will save the taxpayers $95 billion in the consumer $72 billion. it is one example. healthcare comes up at my tummy set the state of iowa and we are going to have to deal with it whether we are in the minority or the majority. i will be in the majority of people are interested the majority as republicans go to grassley works.com.
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bianca: it could happen as soon as november. in the senate might flip. are you concerned that it might not be that soon that you might have to wait another year? >> at the president opposed what we were doing to improve, i doubt to improve obamacare, i presume that we would have to override and you cannot do that. it would be two more years. you had been looking at the whole hunter biden situation you said $5 million went for the people of china. i would say if you produced blackmail opportunities to china when you are referring to the blackmail opportunities are you saying blackmail opportunities for china regarding president biden. >> it is just a concerning question that isaac is
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legitimate based on the fact that hunter biden and james biden have been in business relationships with chinese businesspeople who are active in the communist party and have relationships with the military and china and china been a competition for the united states both economically and militarily. i think it is something legitimate to raise. do i have any direct involvement or any direct evidence of the involvement of the president of the united states, absolutely not but when those people with the biden name looks like their close relationships with people that are national security i think it is a legitimate question to bring up. neil: there's been a very big push maybe ethanol as an alternative to traditional gasoline. that is a big part of your
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economy and the corn growers in that state would probably welcome that but there is some resistance for the white house but not nearly as much as expanding mastic oil. where are you on this and how close is this to happening the ethanol could become an energy resource again in this country. >> it is already very important resource already, 10% of the gasoline that they use in the united states has ethanol mixed with it for the benefit of cleaning up the environment it's a very environmental positive product. we can do a lot more through ethanol our plans are not running at full scale, this administration wants to get down to the price of gasoline. just move us from 10% of the ethanol in gasoline being mandated to not mandating it at 15% but give every opportunity 15% year-round now it cannot be
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used during june, july, august until september the 15th. we heard evidence that this president is thinking to his own actions may be making e15 ethanol 15 with a gallon of gasoline to be sold during the summer. that would be a very positive move. one thing the ethanol needs is certainty this government up-and-down and obama, trump administration continuing bringing uncertainty to it. what we need is certainty this will reduce the cost of fuel for your car and clean up the environment at the same time and create good jobs in rural america and also helps the farmers with the price. neil: great catching up with you senator grassley.
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thank you. senator chuck grassley on all of that. you heard a lot about how we don't want any natural gas from russia. what if i told you there is a move where we don't want any natural gas here particularly in newark. madison will explain after this. welcome to ameriprise. i'm sam morrison, my brother max recommended you. so my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors the garcia's, love working with you. because the advice we give is personalized. hey john reese, jr. how's your father doing? to help reach your goals with confidence. my sister told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. you're a one-man stitchwork master. but your staffing plan needs to go up a size.
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neil: before we get to madison i want to show you what's going on in the market the dow is not the story take a look at technology dominated nasdaq that is the story right now. about what a half percent if interest rates go up technology stocks go down we have a separate drama building with transportation stocks they include a lot of the shipping concerns marine terminal concerns, real concerns, airline, some say it's a proxy for the economy without was the case and they found this transportation these copies were much more important not that they're not as important but the theory goes as transportation stocks go so does the economy they are for the fifth straight day. you have worries that it could affect rest of the market too soon to tell but we do follow it for you. that's what you got paid by the
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way we heard about going after russia's natural gas. were busy doing that in this country. the latest on what is going on in newark with madison ulrich, what is happening that they're not going to allow it. >> this could be really huge newark to be the first state to be in fossil fuels and new bills, is not happened yet but all signs are put under pointing to it potentially happening this is part of the governor's budget, were waiting for that. we reached out to the governor's office to see what is going on and we were told the budget with the bold initiative to embrace once in a generation opportunity but they stop short of commenting on a possible bn of natural gas. this is coming at a time when americans are paying more than ever to power their home in pain were at the pump for your home electricity cost more than natural gas.
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let me break that down the average cost for an american to keep their home this winter, $709 if you're using electric it is $1242. energy officials have been warning that natural gas would further boost already rising consumer prices. another concern is what this would mean in the long-term. take a listen. >> the new development of formally banning new fossil fuel and construction could hurt in the long-term and seems a little bit tone deaf to what's going on in the rest of the world where we have supply shortages in commodity prices. >> something that you discussed on the cell with energy companies saying there is argument we need more here but the long-term investment is it worth it for these countries you see new york doing this to say we will not allow natural gas, maybe in a couple years we will
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drill to get more, that is one part of the story and one thing that is concerning if we switch to the electric or other renewable sources that is a lot of pressure on the grid and could not currently supported more investment step greater citizens have more knowledge. neil: a lot of those are supportive and natural gas. >> it's an argument is it cleaner. thank you very much i would go to congressman the california democratic congressman great to see you. i know you are saying oil company's can be doing more to help the situation we are having with gasoline by taxing their profits on this. why do that why not just allow more exploration. >> i think we need an increase in short-term production, the president has release 180 million barrels which to buy
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the back would increase production, the oil companies have $44 billion in stock buyback. if they continue to charge americans $6 or $7 at the pump then they should be taxed. neil: why would you suggest them if prices go up to go after cargo, philip morris and all of this because they're making and not as much money she would think. if you get a after company that is profits when prices are high why don't you extend that to everybody if laptop go after apple or dell why limit to below that? >> everyone needs gas this is hurting the working class. >> if they were price gouging at the same level and having $40 billion. >> are you saying that they are price gouging?
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>> i have proof that they are putting a lot of their money into stock buyback. i approve that they are making -- >> there a lot of people in your district to invest in oil companies and enjoy those dividends and get something out of that. >> i agree with that and they would have to be paying this tax as well. this is what i find unfair why do americans out of patriotism are being asked you pay $6 for gas and oil companies are making record profits and they're not increasing production. neil: blood system all the oil guys are greedy as obese it would not be in their interest to keep it coming and drooling like crazy and take advantage of that and keep pushing and keep pushing. the number of leases and oil
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that they have now is down remarkably from what it was last year at this time. if it were in their interest to just leave it alone in a high environment were you saying they're making record profit, they want to keep going at that way. >> wall street is telling them that they want to pop it into her pocket the profits and they don't want them to increase more production they have not been increasing over the last couple of years and they are still not increasing the production the prophet in the high prices. neil: this to auto record level we had a catch up in a slow car to be the did not address that but there was not crime for the oil guys when they were making a lot of money. i think you are picking and choosing your moments and saying are they making a lot of money right now if we had a fossil fuel friendly environment in washington and not at the expense of solar or wind. you would bn on all of that, why target this industry.
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>> i am for a moonshot and that is the long-term place. neil: explore them all you are just telling me they should not increase reduction and we should look at more fossil fuel activity and by the same token saying it is not the future. which is it. >> i think there is a short-term that we want to increase production because we have to do everything that we can to bring gas prices down. long-term they make you people understand the volatility and this is not sustainable and if you want to see russia or iran, venezuela or saudi arabia we need a moonshot on renewable energy. neil: we are talking while iran to rely on that and you're concerned about clean energy and relying on either of those kingdoms for countries which is among the dirtiest refined product on the planet it does not make sense prove the parties position does not seem
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consistent. >> i agree with you this is why we should've been investing in renewable energy years ago so we would not be dependent on iran, venezuela, saudi arabia. neil: we recently got very depended on that, that is a very recent phenomenon. >> certainly you would acknowledge not president biden's policies in the last year responsible at the highest production and if you ask anyone in the oil industry. >> the keystone and you know oil is priced as supply and demand and that was cut off it sends a message on this and he verbalizes and he's not too keen on all of this. that tells anyone invested on this. opportunities are to be few and far between, does the president bear any responsibility for this? >> no that production would've been two years out.
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>> this is to build a market, supply and demand just like with the company like amazon or apple comes out with greater means it could fall in the aftermarket space on what it is saying about how future conditions look. oil trade is much the same way are we assigning evil motives to something simple as supply and demand it in this case the president who wanted to limit that supply when he took office. i'm not to say he is to blame for all of this he has to own up to blame for some of it. >> he did not limit the supply production. i think the people who have actually had the biggest impact on the oil industry are companies like black rock and people on wall street and say that's not the future we want to shift her investment and we don't want to invest in the single company that's why the in the position that they are in
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instead of looking at wall street. >> you are a good man in a patriot, i'm not taking anything away from you. i'm saying you start out by the oil guy and they gotta pay a percentage. maybe you're just not like it. i'm just saying now you're extending to wall street and giving the american people the impression that they are the bogeyman not politicians in washington which do not look favorably on the oil industry, the justo. >> they don't because oil industry for 40 years engaged in misinformation about climate change. here's what they should've done the should've been honest. exxon burning fossil fuels causes climate change if they would've said that. >> the fact of the matter is no
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less than a dozen times over 40 years have we looked into the notion that this was a cabal in the oil giants were in cahoots with one another to riga prices. not once has it ever been proven it is the same old and they throw out there in the middle of the spike in prices. you know it is not true. >> i never accused them of the antitrust, i don't know what the facts are, we tried this before in 1980 a windfall tax, guess what happened prices came down in the early years and production went up, this idea the oil companies are making excess profit while a person is paying $100 to fill up the tank if the oil company should be taxed. >> you are defining what is in excess profit with apple charging too much or a laptop or to a philip morris charging too much for cupcakes or candies
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from easter candy. osuna schuster defining what you consider to be excessive that is a slippery slope. >> at the price of the iphone went up 20 or 30%. they are to be taxed or to lower the price. >> you are trying to control prices, richard nixon tried that, that did not work out too well. >> i'm not trying to control prices. >> you're going after the prophets are trying to control profit enterprises. >> i'm saying don't charge an excess price when ordinary americans are suffering it's more profiteering. americans are dying in world war ii and you may have businesses making excess profit you put in committing human rights and were crime in ukraine and americans are doing the patriotic thing
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and gas prices have gone up oil is making a profit and that's not fair. >> every sector in the s&p 500 is coming off of your record profit. is this like a rotating machine gun are you gonna go after others and one open profit, whatever your views are in the oil industry would you extend that to others that are been doing well in visiting patriotic responsibility to pay up. >> i can't think of any other industry agriculture isn't doing it the apple iphone you said aren't doing it. most people what are they complaining about. neil: the healthcare, hospitality, all of those industries that enjoyed a robust turnaround from the days of the pandemic, you are saying right now what is different about the oil guys their profits are
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bigger and their expenses are bigger and the obligations are bigger they have more to lose and they're not helping americans when in fact the percentage of their activity is in line to all of the businesses. >> what i'm saying they are increasing the working class. >> there deliberately doing, there's no proof of that. >> the proof people paying $6 at the gallon. neil: this is a philosophical different speed we gotta get the facts right. we all need a rock we can rely on. to be strong. to overcome anything. ♪ ♪ to be... unstoppable. that's why the world's largest companies and over 30 million people rely on prudential's retirement and workplace benefits.
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paid when the president speaks we will go there. in the meantime following sanctions and punishments that are going to focus on how to punish russia. kgb speaker as well. , moore punishments that don't seem to have changed vladimir putin's behavior change anymore? what do you think. >> no it doesn't and it won't, we're punishing the russian people, vladimir putin does not care about the russian people. he cares about his own power and some of the oligarchs as you probably know the russian people are supporting vladimir putin to a degree which is unheard of.
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>> how is that happening that surprised me they are feeling the economic pain how is it they are absorbing this is a be blamed on the left? >> absolutely. the put narrative has been for a long time that russia is being threatened by the west and the whole idea they keep saying ukraine has a were on behalf of nato and fundamentally ukraine was going to invade russia so he had to do something proactive. the russian people have suffered since the beginning in russia and 822. they have been invaded from the north by the vikings from the mongols from the south and the west by germany.
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there is something. it is paranoia and prudent has been playing this like a master playing the piano. >> these images that we get out of ukraine. the young people seem to be savvy and getting on social media older folks that is maybe not an generalization. the russians of all ages feeling economic pinch, they know what is going on in the ramifications regardless of who is to blame. they cannot be happy about it. i am wondering at what point do they say you are the guy in charge is important we don't like this. >> we do know the approval rating for prudent is upwards of
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70%. the russian people had a history going down and supporting whoever is in charge during world war ii it was stalin even though phenomenal suffering going on. this is not change, you are right, if you want to get the truth if you live in russia you have to be inventive, creative and understand of technology because existing russian infrastructure does not allow you to bend the truth. neil: very interesting you opened a lot of eyes. a former kgb spy, the good read of the russian people. i have a feeling something we missed as if russia turned on him, it doesn't make sense it is crazy but it is what it is. we are awaiting the white house featuring president biden and his old boss barack obama
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celebrating 12 years of the affordable care act. we are on top of that another big changes going on on twitter. they have a new member on the board of directors elon musk they invited him. ♪ we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪
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neil: the white house played the piano that is a mood setter for charlie gasparino. we've been following very closely at elon musk he is the largest shareholder of twitter he made a billion dollars off of his investment always been invited to be on the board of directors. here is the thing this is total political. elon musk was going to put the pressure and that's why he blocked a passive aggressive. this is twitter proactively after he makes the investment putting them on the board. very smart they know what's coming from the republicans when they control congress twitter is going to be in the crosshairs they have somebody because elon musk is a thinker in the alleged
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biased. i'm sorry. it sounds like something better here to russia. it's something to blunt that whether it works out i can't tell you, leading up to this investment and being on the board he is good to be hypercritical of them throwing off the babylon the conservative. >> cassie said pushing to bring back -- >> we do not know yet that is the money shot if he tries to bring back trump did you know he has them by the you know what. neil: do he and trump get along, do we know. >> he was on the task force when trump first got elected. >> he is not a fan of biden. >> only interesting thing the sec has them on a short leash because they don't what to do
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my fellow americans on march 23, 2010 the affordable care act was signed into law. [applause] in the 12 years since aca has delivered high-quality, affordable healthcare and more than 30 million americans. bring those americans are working parents and young children, college students and older americans. billions of people whom never been able to afford coverage before or who had been denied coverage altogether often because of the category of denial called pre-existing conditions, conditions such as
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cancer, diabetes, hypertension or even asthma. aca is the most consequential healthcare legislation passed in generations in our country. [applause] it is something more aca is a statement of purpose, statement about the nation we must be we are all people no matter who they are, where they live or how much they earn can access the health care that they need no matter the cost. when i served as attorney general of california it was that purpose that letter office and to another state attorney general's to submit a brief to
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the united states supreme court in dissent of aca. it is that purpose that brings us together today to continue to expand the affordable healthcare and its coverage to families across our nation and to call on congress to take action. to pass legislation that simply allows medicare to directly negotiate prescription drug prices for pharmaceutical company. [applause] and if there is any question why i will explain. more than 16 million americans are rolled in medicare. that would give medicare significant bargaining power to negotiate prices for all of those americans. instead of forcing individual
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patients to negotiate by themselves to require them to pay whatever price the drug companies said, they would have that kind of representation to stand there with their fellow americans and negotiate those prices so they would suddenly be fair. today we also call on congress to make permanent aca subsidies that are included in the american rescue plan. subsidies that are currently lowering insurance premiums for millions of americans and set to expire in december. in the war must be done, currently there are 12 states internation that refused to expand medicaid.
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for no reason other than petty partisan obstruction as a result 4 million people in our country are locked out of coverage, that comes at a cost. for example women who do not have healthcare coverage therefore less likely to have access during pregnancy or before or after the pelvic exams or vaccinations or prenatal checkups or postpartum depression screenings and all the other essential care that they need to be safe safe and healthy before, during and after birth. we know expanding medicaid coverage significantly reducing the number of mothers who die as a result of pregnancy. as a further coverage expanded in those 12 states the more lives we will say.
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protecting the health and the well-being of our nation should not be a partisan issue. every person internation should be able to access and afford the health care that they need to thrive at is a privilege but as of right. that is why our administration will continue for every tool of our disposal to strengthen aca. with that it is now my great pleasure to introduce the man's whose vision and leadership led us to this day whose unwavering commitment to the people of her nation lay the foundation for this ground making legislation. a leader that showed us the way forward.
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nancy pelosi. all the members in congress to attend numbers of the cabinet it is good to be back at the white house. it is been a while i confess i heard some changes have been made by the current president. apparently secret service has to aviator glasses now. nuts has been released by baskin-robbins. there is a cat running around. i guarantee they would've been unhappy but coming back even if i have to wear a tie which i very rarely do these days gives me a chance to visit with the
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incredible people who served as white house who served this country a physical day. they make this government function and they help people in ways big and small. in from the outside sometimes people don't understand. just how grueling this is and how many sacrifices people make. because those of us in front of the cameras often times get depressed. but it is a lot of people who are devoted day in and day out to make this country better and a lot of them are represented here. that is not just the west wing that is also in the residence a lot of people looked after families and i will always be grateful to. it is wonderful to be back to say thank you to all of you.
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thank you and spend some time with an extraordinary random partner who is by my side for eight years. joe biden i did a lot together. [applause] we help save the global economy made record investments to clean energy we put guardrails on our financial system, we help turn the auto industry around, appeal don't ask don't tell but nothing they need prouder than providing better healthcare and more protection to millions of people across this country.
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president biden said he was not going to celebrate but also announce actions that would make it even better, i had to show up. i think it's been well-documented and just how difficult it was to pass aca you can get a lot of testimony here in case folks have not heard. as a country we have been talking about performing healthcare for 100 years. unlike almost every other advanced economy on earth we did not have a system that guaranteed access to healthcare for all of its citizens. millions of people do not have health insurance often because their employers did not provide it were it was too expensive but despite the fact that her healthcare system did not work
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well. it was hard to change. healthcare represents about one fifth of our economy, that is trillions of dollars that are involved. there were a lot of deep-rooted economic to maintain the status quo. because the majority of americans did have healthcare some people naturally worried that they would lose what they had. the media was skeptical to past failures. there was a lot of misinformation to say the least flying around. it is fair to say [laughter]. that's fair to say. but despite great odds joe and i were determined, because we met too many people on the campaign
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trail who shared their stories and our own families had been touched by illness. and as i said to our dear friend harry reid who is missed, wish he was here today, he took great pride in what we did, i intended to get health care passed even if it cost me re-election, which for a while looked like it might. [laughter]. but for all of us, for joe, for harry, for nancy pelosi, for others, the aca was an example of why you run for office in the first place. why all of you sign up for doing jobs that pay less than you could make someplace else. why you're away from home sometimes and you miss some soccer practices or some dance
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recitals. because we don't, we're not supposed to do this just to occupy a seat or to hang on to power. we're supposed to do this because it makes a difference in the lives of people who sent us here and pause bash us of -- because of so many people who are here today made enormous sacrifices because members about congress took courageous votes including some who knew that their vote would likely cost them their seat. because the incredible leadership of nancy and harry we got the aca across the finish line together. [applause]
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and the night we passed the aca, i said it before, it was a high point of my time here because it reminded me and reminded us of what is possible. but of course your work was not finished. republicans tried to repeal what we had done, again, and again and again. they filed lawsuits that went all the way to the supreme court three times. i see don who had to defend a couple of them. charles: president obama at the white house for the first time under the biden administration, waxing letter i lyrically about affordable health care. this is pep talk of sorts, trying to rally the troops if you will as the midterm elections look to be pretty rocky at this point for the current administration. good afternoon, everyone, i'm charles
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