carefully, meghan markle, before i gave the queen my tiara back. so great to be with you, thankses as always for watching. "the evening edit" starts now. ♪ ♪ david: happening now, president biden still refusing to own major economic crises as fears of a recession continue to grow. the pain at the pump growing worse by the day. the average price of gas now soaring to $4.71 a gallon. biden also appearing to contradict the white house on the dire baby formula shortage. now denying claims the shortage was predictable despite evidence they knew it was a problem months before. meantime, biden's administration also erasing $6 billion in

student the loan debt for former corinthian college students, but that's chump change compared to a major order the president is considering, one that even "the washington post" calls, quote, another taxpayer-funded subsidy to the upper middle class. but will voters stand for it? and gun control in full focus in washington, d.c. today the after another mass shooting, this one at a medical center in tulsa. we've got the very latest. plus, two former intel officials who dubbedded the hunter biden laptop scandal as, quote, russian disinformation are in the names, what a new report reveals about james clapper and leon panetta and whether they were compromised by their friends in silicon valley. we're taking it on with tomi lahren. and governor asa hutchinson, why he says law and order on the border is being replaced by criminal cartels. i'm david asman in for mac donald.

"the evening edit" starts right now. ♪ ♪ david: we bin with a look at your money. markets endinged to in the green. the dow finishing over 400 points higher to shake off early weakness. this as the white house is playing the blame game on a number of economic crises. president biden now says he was not aware of the severity of the baby formula shortage until april, but manufacturing executives sounded the alarm to retail theres two months earlier. americans continuing to feel the historic pain at the pump. the national average for gas prices hitting fresh new records today, $4.71 a gallon. while the administration faces increased pressure at home over fuel costs, biden is said to be considering a visit to saudi arabia with to beg them to increase production. edward lawrence is at the white house with more.

edward. >> reporter: gas prices have been at a record or set a record every day since may 10th. president joe biden admits that he does not have an immediate pix to bring gas prices down to $3 a gallon as with the previous administration. now, this administration has been releasing from the strategic petroleum reserve, also has been asking opec to produce more oil. the associated press said that president biden is leaning towards a trip to saudi arabia and meeting crown prince that he once called a killer. now, that report to coincided with opec announcing it would take steps to increase production 200,000 barrels of oil a day in july and august is the addition do. republicans saying this reminds them of the carter administration trying to appease the saudis to pump more oil. >> let's get inflation under control by allowing that energy to flow into the marketplace and bring the price of gasoline down, the price of keyes el down. that's doable right now. >> reporter: president biden

still pushing for more spending as a way to deal with inflation. the argument dose that, yes, inflation's high, but you can lower costs for some people in some areas like childcare, and then the rest of us can just handle it. back to you, david. david: edward lawrence from the white house, thank you very much. president biden getting more heat for his "wall street journal" article earlier this week on inflation. this was an article that was of filled with misinformation such as saying he turned around a stalled economy when, in fact, the economy was growing by 4.5% when he took over is and concern and is now in contraction then saying business is up -- business investment is up when it's been sliding, saying americans had more savings and less debt when it's exactly the op opposite of that. and, of course, his continued attempts to blame russia for rising gas prices when they actually began spiking the today he was elected. those factual errors actually pale in comparison with overall suggestions that americans would be better off if our economy was

to slow down even more. in other words, this is about as good as it gets, folks, until we transition into his green new world. well, of course, this surrender to stagflation is not what americans voted for. 79% of voters think we are on the wrong track. they want to get back to the american dream where our daily lives get better, not a lot worse. our next guests have been fighting for the american dream all their lives. pennsylvania congressman dan meuser along with national taxpayers' union brandon arnold. congressman, there's one line that sticks out about this transition period in president biden's op-ed in the "wall street journal." he says during the transition growth will look different. well, it's not growth if you're not growing, right? if how does that look any differentsome. >> yeah. -- different? >> yeah.

there's no pro-growth plan anywhere near what the upside could be economic policy of what the biden administration is spewing. there's not much of a profile in real economics nor is there any profile in courage with all this finger-pointing and blaming. look, i mean, they came in from day one, the gasoline prices, oil, natural gas has led primarily to this inflation. i just got back from europe, i mean, they're dealing with that as well, yet their economies are actually growing. and the whole world is looking for american leadership and, boy, this administration's not providing it. you know, overspending, you know, his plan is to continue spending, raise taxes and open up the oil reserves. i mean, it's just band-aid applications rather than any short-term or long-term -- david: well, they're not even band-aids. they're not working. it's the having the opposite

effect. gas prices continue to go up even as they sell off more of our reserves that, by the way, are supposed to stay within our borders. they're for emergencies at home, not to be sold overseas at home. brandon, there's an old saying if you're coasting, you're going downhill. and americans don't want to be going could be hill. we are barely coasting. we're actually going in a negative direction in the first quarter, we may be with one now that would officially be a recession. >> middle class americans are getting clobbered by inflation, they're the ones that feel it the hardest, they feel it the worst. it's even seeping into the upper middle class, there's reports of people making $250,000 a year increasingly dipping into savings, living may check to paycheck -- paycheck to a paycheck. and instead of any real solutions, you pegged it perfectly, the "wall street journal" op-ed is all about blaming others where it's putin,

whetherst it's the junior senator from florida -- the he's blaming rick scott for some of the economic problems instead of taking ownership. even his treasury secretary is saying she missed the mark when it came to inflation, but we're seeing no such humility from this president. david: he's blaming others and assuming americans are idiots. i mean, to suggest that negative growth is a different look of growth is just absurd. it's the, it reminds me of when they were trying to convince us that barbecues cost less despite the fact that we saw inflation making it cost more. also on gas specifically and oil production in the united states, we're going hat in hand to saudi arabia to get them to produce more. meanwhile, they say they're not december couraging -- discouraging producers here from producing more. but you look at what's happening with the da coe a thes where you have -- dakotas where you have the bakken shale. used to be we were getting 45 million barrels in october of 2019, now we're getting about 2

the 7 -- 27% less than that in oil production. you have a lot of shale oil in pennsylvania. is the same thing happening there? >> yeah, we certainly co. this is a profile, again, and jimmy carter onster toidz -- steroids, the highest level of inflation in 40 years and the worst president in 45 years. yeah, the biden administration decided to send a mission group to venezuela to see what they could cothere, now they're going to go out to the middle east, to saudi arabia, to opec, and now we've got the second largest reserve of and a half algas in the world -- natural gas here in the world here in pennsylvania. they have been on the assault on domestic energy, david, through the regulations, lu canceling of the keystone pipeline and primarily to the warnings to investment banks that disclose their the climate risks in their investments. i mean, this is the an administration if there's one thing that joe biden's lived up to as his campaign promise was to kill domestic fossil fuels,

and he's doing one hell of a good job doing it. and then we speak fondly of the idea of gas prices being high and somehow that's going to create more green energy. i mean, it's really upside down. david: well, and, brandon, the congressman is on the committee for small business. small businesses are hurt particularly hard by the overregulation of this administration. they have so many new regulations coming in. not only did they reverse the deregulation of the trump years, but they've added on to that with far more regulations than existed before trump was president during the obama years. the fact is that small business -- big businesses can sometimes eat those costs, not always, but small businesses can't. they can't afford fancy lawyers and accountants to help them out with these regulations. >> yeah, that's absolutely right. they can, excuse me, they've been clobbered by inflation, by additional regulatory burdens, and right now, you know, you go on summer vacation now, we're in that season, you go to the beach

and ice cream stores can't stay open. the the place selling flip-flops and pool floatties can't stay open. policies and regulation have increased the cost, labor costs are through the roof if you can even find staff, so it's starting to crunch these small businesses and really hurt the people that want to do business with them, the consumers that want to go out there and support their local school businesses can't when these stores are closed. david: congressman, it seems to me concern the final question to you -- that what this administration's looking towards is kind of a quasi-socialist, european model -- at least some of the europeans have gotten rid are of that model because it didn't work over there east, but that's what they appear to be trying to transition this economy over to it's more than just gas and oil and and green energy, it's the entire economy that they're trying to put in this quasi-socialist/european mold. would you agree with that? -- model. >> yeah.

it's very odd how they have absolutely no respect for the private sector the, no understanding what small business is going through. he's, biden says -- and too many democrats in the house agree with him -- the let's increase spending and raise taxes. somehow that's going to lower inflation and the deficit. it's a misunderstanding of the fundamentals, but it's also a socialist, go woke and go broke attitude. david: and it's also not what americans voted for when he claimed to be going towards the middle. clearly not when 79% of the people think we're going in the wrong direction. dan meuser, brandon arnold, appreciate it. adding to inflation even more, the biden administration just erased $6 billion in student roan debt -- loan debt, but could you soon foot the bill for much, much more if the president okays a broader measure? we'll dig into that straight ahead. ♪ ♪ fo customizing your car insurance, so you only pay for what you need.

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david: the biden administration is erasing $5.8 billion in student loans for former core corinthian student loans.

the announcement applies to students who attended corinthian college. the biden administration is not ruling out more student loan debt forgiveness. the president does want to cancel about $10,000 in students debt but means test the program so people who make under $150,000 can cash in on the benefits. but the "wall street journal" editorial board blasted the program saying it's a subsidy for the upper middle class. the means test would be almost useless since 97% of borrowers would be eligible.

they said it would still cost $230 billion, worsen inflation and increase the cost of higher education. not very good news for people eventually wanting to go to college. david: the whroon forgiveness is nothing compared to wiping out student loan debt for millions. bloomberg says it could cost taxpayers $380 billion. and it would flow to those in the top half of the income scale. it was called yet another taxpayer subsidy for the upper middle class. "the washington post" which is becoming more and more critical of the president called it a

quote expensive and inequitable election year stunt. is it a stunt? >> i agree. you are basically buying off support for an election to keep power. the people who paid off their student loan debt doing the right thing. it's wrong for people watching this and they chose to go to another school or they are working hard full-time jobs, maybe two jobs. it's wrong for the sense of entitlement for people who might be going to college in the future as well as the point you just covered. people want to go know, how are you going to pay for it. as you get closer to the november 8, 2022 election, house and senate up for grabs. this is a political stunt. it's as wrong as it gets. >> it has a perverse effect on college tuition. the more the government gets

involved, particularly if they wipe pout debt, the more institutions are encouraged to up tear tuition price for people who are already paying. >> i have run four times for the house. my initial campaign in 2014, then i had three reelections since. each time out i could have said if you vote for me, i'll give you three college, free healthcare, free housing and free monthly stipends and the list can go on. maybe it helps you get votes. but none of that this our country reality. it's not possible to be able to do it we you add up the cost of everything the democratic party is promising to voters right now. it's going to be impossible to pay. you can forget about raising taxes. you can start confiscating the

wealth of all the wealthiest americans and still not have enough to pay for everything they are offering voters. >> i think there was a time when even joe biden knew it. aoc and the progressives seem to be pushing this administration to initiatives like this. i just think they are totally ignorant of the economics of all this. but can biden afford, politically afford to pull away from them and say forget bit, it doesn't work. the answer should be yes, absolutely because our country can't afford it. if you want to sign up to be president of the united states, you have to have the backbone to say no to people in your own party month don't know what they are talking about. we have people who outsized power. they are self-described as socialists. they want our country to be like some other country, not learning

the lessons of failed nations that had this approaches where. the president of the united states needs to stand up to be a leader. he needs to tell these folks in his own party, you are wrong, and here are 40 reasons why we can't do that. david: my buddy kudlow says at the very least, the one positive aspect to all this is now we can say it didn't work. we tried it here, it did not work. let me just bring it back to new york, if i can. you are running for governor. you still have to go through the primary. but i'm wondering. new york has a 2-1 ratio of democrats to republicans. how do you beat those odds? >> there are actually millions of people registered to vote in the state who aren't republican or democrat. they are polling as if they are republicans. it's been pretty amazing to see

how much support is coming from independents and disenfranchised democrats. as i travel across it state i'm finding new yorkers stay they don't feel safe on our streets. they are talking about the quality of their kids' education. and they are moving to states where they feel they will live freer and safer and their money will go farther it's note just republicans i'm getting that feedback. i'm getting it from democrats and independents across the state. i believe we'll win this race because we have to save new york. david: their moving other states and their tblairg vote with them. the people staying here are likely to be a harder core democrat. >> our vocal in new york city is 29%.

it would have been 27% before the population shift. you are talking about winning the race statewide. even if you lose new york city by 40 points. i feel like everything is set up for to us win this race. for the first time in my lifetime going into a mid-term. in my opinion their destroying these different levels of government. david: there are precedents. giuliani was a republican and was mayor of new york city. it's reaching a high point with crime and people don't feel safe or secure. she zeldin, thank you. gun control is in high focus

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only at vanguard, you're more than just an investor you're an owner. that means that your goals are ours too. and vanguard retirement tools and advice can help you get there. that's the value of ownership. david: a new report finding top intel official james clapper and leon panetta are accused of taking cash from big tech to spread misinformation about thrusts. the pair reportedly warned

several proposed bill to rein in big tech companies like google and meta could carry unintended consequences. joining me is tomi lahren. great to see you. when we saw these guys on cnn and nbc and other legacy media so-called. did you suspect behind the scenes they may be pulling some water for those high-tech companies condemning the hunter biden story? >> i kinds of had a feeling. they are doing the bidding for big texas well as the democrat party. if you want to talk about collusion, the security officials like to talk about collusion when it comes to donald trump. but they don't want to talk about their own collusion. you can't take money from big

tech and push a narrative for big tech. they are shameless in their pursuit of control of the narrative. this is no different. just a different story, different day. david: they claim they were worried about cyber threats from china and russia. and want u.s. high-tech companies to be insulated with everything they have from the cyber threats from china and russia. and therefore they need all of the support they can get from congress. that's their excuse to which you say what? >> that kind of hard for us to believe when these pig tech companies are actively working with china and other entities not friendly to the united states. if you want to look at google and the rest of these companies. here is the real problem i have.

bipartisan, even democrats understand that when these big tech companies control so much of the pie, so much of the narrative, it's dangerous. democrats can get on board with that when they benefit from a lot of that. i'm tired of hearing from some on the left as well at their competition already exists. if you don't like being censored on big tech, create something of your own. so we need these anti-trusts. if there was ever an area for government to regular list late. and i'm not big fan of government regulation. david: elon musk shows the free market does have a role here and can supplant anti-trust measures by allowing the market to settle

these prejudices. elon musk is an example. twitter had a bad business model and it was susceptible to a takeover. but facebook has enough money to ward off people from the outside like elon. >> look how difficult it has been for elon musk to across with inquiry twitter. there are not enough elon musks in the world to compete against the democratic party. there are some democrats, including klobuchar who want to break up big tech. let the truth breathe and let the american people decide what they want to believe and what is truly misinformation.

david: gun control in full focus after another mass shooting at a medical center in tulsa. we have the details own that next. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

david: we are learning more about the latest mass shooting. a man carrying a rifle opened fire in tulsa, oklahoma yesterday afternoon. authorities say he appeared to target a doctor who performed his back surgery. funerals are still being held for the 21 victims of the shooting in uvalde, texas last week. joining us now, congressman jeff van drew from the house homeland

security committee. we heard misstatements from the president on guns. one on cannons and one on 9 millimeter rounds. what do you expect to mare from him tonight as he addresses the nation. >> as these horrific events take place, no legal good gun owner which is 99% of gun owners wants to see this. but rather than coming up with real solutions, he's scaring people, making misstatements, mischaracterizing the constitution of the united states of the america.

making sure anybody needs to be buds in before entering a school. then they would go into an ante room so the resource officer can make sure they don't have a bomb or gun or anything that shouldn't be there. then they get second buzz-in and they can go in. but if it isn't appropriate, we have that person in a sense to make sure they can't go in and hurt anybody. david: already senator schumer sort of wiped out the republican measures to tighten school security, and so far we haven't heard -- we may hear from the president need about tightening school security. but so far it's all about guns.

>> if you take a certain gun away, there will be other guns. and the people doing this, whether mental health issues in the recentcation or gang bangers and criminals where the rate of violence is going up, they don't care about the law. they are breaking the law. killing people is against the law. they understand that and they don't care. this kind of gun control doesn't do anything at the end of the day. we need protection. i am so unbelievably disappointed that democrats would say they don't want to do this. the only why they say this is the republicans want to do it. i ask people to think about this legislation. it's on my website. basically lit stop anybody from going forward and doing this. making a gun illegal is not

going to do it. david: the president's comments on .9 millimeter rounds. people who have .9 millimeter guns are concerned because they use those guns to protect their families at home. are you concerned that there will be a measure to prevent or con if i skate .9 millimeter guns in america? >> the bottom line of what democrats want to do is take all guns away. they won't admit it. but mischaracterizing what a .9 millimeter gun is, he needs to

sit down his fast and understand what these guns are. but exaggeration gets people afraid and fired up and scared. protecting is the answer. protect our children. protecting our babies. this administration isn't worried about that. those bad things that happen because people have mental issues. and we need to deal with that. david: and tighten up the schools. thank you very much. have a good weekend. a new billboard in new york city is getting tons of attention. we are getting the back story from one of the people who helped work on it sphread straight ahead. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do.

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david: a billboard ripping into president biden went up in times square it highlights the baby formula shortage and falling wages. joining me, elaine parker. thanks for being here. i'm curious what your goal is. as we just talked to lee zeldin, you have 70% of new york voters going democrat. but are they really willing to vote against biden because they don't like those things? >> that's hard to tell in new york city. but it's a message we want to get across to the american public. there were so many failures we didn't have enough space on the billboard so we had to end it with thanks for nothing. for us it was great timing

because it coincided with the president's op-ed in the "wall street journal" where he laid out his plan to combat inflation. what we found out is he has no plan to combat inflation and high gas prices. he's pulling together a group not to solve the problems but communicate more to the american people and spin the bad news so we think everything is going great. but every time we fill up our gas tanks we remember how hard things are and how much ordinary americans are hurting. david: i think he does have a plan and he did lay it out. his plan is to slow down the economy even more than it already has. he says that straight out. he says he will slow things down and while have to change our definition of growth, meaning negativity is actually growth in

his universe. so that is his plan. i don't think americans are going to buy a piece of that. >> absolutely not. in his op-ed he sets the expectations of lower job growth is going to be steady growth. we won't seat half million jobs coming back that we lost during the pandemic. we'll look at a hundred to 120 jobs a month. low expectations is a good thing. these jobs are coming back not because of his policies but in spite his policies. and they are coming back slowly. but until we make it back to baseline, this president has created any jobs. david: one thing you didn't put on the billboard, the thing that motivates new york voters and voters in l.a. and france and

chicago is whether they feel safe on the streets. they don't. obviously you represent a lot of people that hire effects in new york city and elsewhere. is that a major concern that crime might be preventing people from going back to work? >> absolutely. whether it's crime or the cost to drive to work. it's keeping people from filling jobs. the jobs are there, the people are there to fill them. but they are not going to work. new york city is a great example of people not feeling safe. the ce storkss of major corporations explain how their own employees. that message is going to reverberate across the country in cities that are not getting crime under control. safer communities dome pact jobs and small businesses.

americans are taking notice. they want to feel safe. david: good luck on your billboards. i appreciate you being here. governor asa hutchinson says law enforcement is no longer in control at the border. ♪ limu emu ♪ and doug. ♪ harp plays ♪ only two things are forever: love and liberty mutual customizing your car insurance, so you only pay for what you need. (emu squawks) if anyone objects to this marriage, speak now or forever hold your peace. (emu squawks) (the crowd gasps) no, kevin, no! not today. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven

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arkansas governor hutchinson is ripping the biden administration over its open border policy, he says the crisis at the border is worse than he realized since power is slipping from law enforcement hands. >> the cartel are controlling the border versus law enforcement and we've got to go after and build cooperation after reducing the influence of the cartel. david: we learned border officers in texas sees more than $3 million worth of cocaine and meth over a span of three days last week. joining us now to discuss, texas congressman michael burgess who returned from the border, first of all, the breakdown of law and order at the border, clearly there is a breakdown and that leaves a vacuum hutchinson says the vacuum is being filled by these cartel, is that right?

>> absolutely and that's not new to the degree to which operation control is the cartel is unlike anything i've ever seen before, i've been going down for a number of years. i've never seen anything like this but the likelihood title 42 exemption is going to go away fairly soon, the volume of people coming across for border patrol to keep up with, as a consequence, cartel get human trafficking as well as drugs and contraband across the border. virtually unstopped. david: it plays into i think one of the worst problems we face as a society the on economics and foreign policy, the breakdown of law and order we see on city streets, in our shops, just about everywhere and now the fact that these millions of people coming across the border

perhaps as many as 6 million next year, get rid of title 42 will enter with this idea a lawless nation because there's no law at the border. >> correct, that was the sitting president, our laws are of no consequence, no one enforces them so there's no consequence for breaking them. it devolves from their. one of the striking things i saw yesterday was the amount of material that had been delivered to build the wall, secure the border rusting in the heat off to the side. it's not just the fact that the wall is not built but every inch of the wall is not built allows dangerous people to come in. david: one of the extremely infuriating things about that, the one place where there is a secure wall in the southern border of california pretty much all the way from the pacific to arizona, that's not where they

are going, they're going to where the wall hasn't been built so it is working where it is built and yet you see piles and piles of wall materials that could be put to good use. in fact, it's costing taxpayer money to keep it there being unused. >> yes, someone has to actually watch it. there was concern somebody might walk off with a bunch of it yesterday when i was there but the tragedy is, this could be stopping the flow of fentanyl into our country and everybody knows the trajectory from a chinese clouds to mexico to cartel, to our street and kills our kids. it's wrong and has to stop. david: you're also a medical doctor, ob/gyn trained, what are the medical conditions of the immigrants across particularly those might be subjected to abuse by the coyotes? >> it runs the gamut and there's

been a problem literally for years, it's worse now because of the numbers being so much higher but from tuberculosis to covid, all of those are at risk for coming across, the one bright spot yesterday was vaccination is no longer optional for people released into this country, coronas vaccine. that was uncomfortable, border protection take the vaccine what was optional for the people being released, at least now people being released are vaccinated. david: ten seconds literally but is there anything about this administration border personal policy? >> no, it's inhumane and damaging you can see that, the people evading the facilities ours and yesterday, whether children, women, men, all of

them, they are in a tough spot right now. david: michael burgess, thank you very much, appreciate you being here. i'm david asman and for elizabeth macdonald, you've been watching "the evening edit" on foxbusiness, that does it for us. thank you for watching, have a wonderful evening. we will see you back here later. ♪♪ kennedy: russia and bring up rattling in response to our military support of ukraine. one hundred days now, it's become stalemate, both sides dug in for the long haul. the problem is the war is becoming costly for the rest of the world, oil prices are obviously up but so is the cost of food particularly wheat and an attempt to help turn the tide the white house this week announced we are going to send ukraine's systems that can kill