lives but a national security threat and he has a revolving door of immigration and we have people from 150 countries from around the world coming to the border and only 195 countries in the world. liz: love your passion and love for this nation too. art and ford, come back soon and have a great weekend. i'm elizabeth macdonald and this is evening edit. have a good weekend and join us monday night. maria: happy weekend ahead. i'm maria bartiromo. do the democrats have a deal? senator kirstin sinema suggesting she's on board with her party's massive spending and tax bill and with new changes and the democrats hoping to ram the bill through this weekend. senator lindsey graham is here with a response. plus, a big surprise in the

number of jobs created in the month of july. stephanie and larry mcdonald are here with what this means for the economy and what the federal reserve will do now. plus, mountains of guns and drugs seized at the southern border in texas. a look at my trip to the border this week as our broken border crisis continues. but first, changes made in the so-called inflation reduction act. to woo key democrat senator christine sinema's vote this weekend and replaced by a buy back tax and would cost americans $333 billion in new taxes but senator joe mansion says republicans should like this bill. joining me right now is senate budget committee's ranking member, lindsey graham. senator, thanks very much for being here. joe mansion said you should like this. do you? >> i hate it. i like joe mansion, he stood up to the liberals that on

occasion, but he's empowering the left, he's going to increase inflation. the congressional budget office said that in 2023 inflation will go up or down by 0.1%. the joint tax committee has said that the new taxes will be passed under the consumer as low as $70,000 of earned income and comes to obama care subcities, you're going to get a subsidy if you make $304,000 as a family of four. every policy we're facing today is worse. these are the same people that told you the american rescue plan would rescue you. this is a horrible idea. it doesn't reduce inflation. let me just say this, if you believe the border is secure and if you believe the taliban didn't know the man was in kabul, you'll believe this will reduce inflation. if you doubt other things, doubt this.

maria: look, 230 economists send a letter saying this is going to add to inflation. we know that inflation was at 1.4% when joe biden walked into the oval office and now it's at 9.1%, largely due to all of this spending. why are these senators agreeing to it? what do they get? >> it's in democratic dna to tax and spend. this is all they know how to do. joe mansion, he's helped us on many occasions, but he's always there for them when it comes to tax and spending and nobody's mentioned that in the bill, there's a 16.4 centss per barrel gas tax on imported oil that will be passed onto the consumer. they're resurrecting a tax that was killed in '95, it's a vampire tax, and they're re-imposing it on imported oil, that will make gas go up not down. there's nothing in the bill to reduce inflation. it grows the government. the taxes will be passed onto the consumer.

this is the worst possible outcome. when it comes to foreign policy, biden's administration is dumb and weak and when it comes to domestic policy, democrats have one play: tax and spend. maria: well, you also have a bloated irs that joe biden wants to hire 86,000 new irs agents to audit everybody. look under rocks for any tax cheats. tell me what that means. is this the same item in the build back better agenda where he wanted to see all tank actions in your bank account of $600 or more? >> yeah, it's on that path. build back better, this is a fraction of build back better but it's bad policy at a time we need good policy. have you ever traveled down 95? have you ever gone from like new york to florida? have you ever done that? maria: yes. yes. >> okay, there's a bunch of southern towns that make a

living off of you coming through. they're called speed traps. 10% of the money going to the irs is for technology improvements, which they need. most of the money is on the enforcement side so the irs is going to be one giant speed trap for uber drivers, people working in a restaurant, average americans cause they're going to take this money, hire these agents, and they're going to go after everybody in america to suck you dry. maria: wow. all right. i want to move onto china because we've got new developments this weekend. china still fuming over nancy pelosi's trip to taiwan. now it is considering large scale military drills near taiwan this weekend. you sponsored a bill that would name taiwan a key ally. but the white house is trying to stop that bill and the u.s. delayed our scheduled missile tests. why is joe biden and the democrats rolling over for the

ccp any time it wants. nancy pelosi did the right thing by going, don't you think? >> oh, totally. well, you know, i like joe biden as a person but president joe biden and his team are dumb and weak in the face of aggression. this is ukraine all over again. i along with some democrats were begging the biden administration to sanction putin for the military build up before t t t try o g g g in, iou'r ie i ioi t weanwetedanor goi in ukr befeefef vasion s tdhe s s s s r sea reao fit.t.tht. toot.k t at. a a a a. what is bob mendez and myself trying to do? we're trying to increase economic support to taiwan and give them more weapons to deter china and they're undercutting our bill. we have sanctions against china for cyber attacks on a democracy called taiwan. they're trying to water down a bill that would help taiwan.

they're stopping missile launches by the american military because they don't want to provoke china. every time they're faced with a bully, aggression from a bully, they get weak kneed, which means you get more bullying. maria: yeah, but look, china is now putting sanctions on nancy pelosi. they don't care and not only that, but we are seeing, yeah, i mean we are seeing the ccp push back. it is stopping any cooperation with the united states, and as i understand it there's already a contract in place where taiwan has paid for certain equipment, military armament, and we haven't sent it to them yet. why not? >> we have a supply chain problem. they're building the jets in south carolina they're f-16s and i think there's 63 that they need to bolster their defense. if we let ukraine go, we don't do well in ukraine, china is going to go to taiwan.

so bob mendez and myself have trying to increase economic aid to taiwan, increase military capability to deter aggression by china. what does it matter to you sitting at home? 90% of high end chips that go in f-35s or refrigerators and cars are all made in taiwan. do you want to give communist china a monopoly on the chip market? so it matters what happens in taiwan. what have they done? they left afghanistan. within a year the leader of al-qaida is living in the guest house of the number two guy in the taliban government. shows they have a warm, cozy relationship. you've been to the border. it would be so easy for a group of terrorists to come through the border and kill a bunch of us. there's a nightmare scenario of a rise of radical taliban with a broke inboarder and the administration is trying to stop congress from bolstering taiwan any time they need the help, and

this is ukraine all over again. maria: yeah, i'm just back from the border just this week, and i know you and some of your colleagues sent a letter to hope land security secretary sounding the alarm on our national security in the wake of the assassination of the 9/11 master mind zawahiri. your thoughts on the al-qaida terrorists coming over the southern boarder and how many have been apprehended on terrorist lists already? >> 56 we know of. we caught some people plotting to kill president bush 43. the fbi director yesterday answered my question. i said are you concerned about the rise of radical islam in afghanistan? that group coming to our southern border to attack us, he says i'm very concerned. he says they have an overwhelming desire to hit america. the new al-qaida leader, and they'll pick somebody, that guy

is going to have to outdo everybody before him to get street cred with radical islam. you'll do that with a massive attack on the united states would make him a hero overnight. i wrote a letter, there's a 479% increase of illegal immigrants from 2019-2020. the highest on record and the border patrol spends all their time processing illegal immigrants. how easy would it be for a group of terrorists to just shootly the gap here? i'm begging him to change the policies that led to this invasion and if you don't, you're setting up a terrorist attack. maria: wow, unbelievable. senator, great to get your thoughts on all this. we so appreciate you joining me and your leadership. thank you so, sir. more on the threat at the border coming up in the program. plus a huge surprise in the jobs report for the month of july. what it means for the economic recovery and what the federal reserve will do next.

maria: welcome back. let's talk markets and take a look at where the market ended the week after a wild friday and a block buster jobs report. for the month of july, 528,000 jobs were added to the economy. when 250,000 were expected and the unemployment rate ticked lower to 3.5%. joining me right now to look at the economic data and what is ahead is the president of macro-mavin stephanie pomboy and founder of bear trap report, larry mcdonald. thank you both for being here. give us your assessment of this jobs report, stephanie. kick us off. this was obviously better than most people expected. >> yeah, and very surprising number. i mean, so strong that it kind of makes you suspicion about what really was going on there. i would point out the nonseasonly adjusted number in

the line is a decline. it indicates the challenges the bls has in terms of measuring month to month changing in employment and seasonal factors will adjust that. we'll see what happens on revision here, but i think the real take away here is that obviously we're dealing with a tight labor market but a lot of this is very lagging indicators. i mean, indicater other than payroll line is a real decline in activity whether small business hiring, ism surveys, regional fed surveys, consumer confidence indications on the job outlook have soured, but the number one input as you know, maria, and i've been talking about is what's going to happen on the profit front. we're obviously on the back of the real slow down in profits. i happen to think those profits are going to go into outright

recession and decline, which would show declines in the employment picture. maria: larry, now we see this number for the month of july, there's a 65% chance markets are expecting 65% chance that the fed raises rates in september by another 75 basis points. larry, we know things are slowing down. we're watching the macro story. some are cutting jocks and freezing hiring -- jobs and freezing hiring in the tech sector. how do you assess what we saw in july? >> in talking to institutional clients this morning and we run a live chat with 660 institutional investors in 25+ countries, there's a narrative in there that's very powerful in two to three people are bringing up the ceo of uber this week made a comment that is shocking. that 70% of his new drivers, 70% new drivers last three months were taking on a job because of inflation pressures at home.

so the top 50% of americans have some savings, their assets have been hit with stocks and bonds, and a lot of pain there because your stocks and bonds in the first half had really bad numbers, down close to 20% combined for stocks and bonds, but your bottom 50%, those people are a real pain and you're see ago lot of part-time jobs, people taking on extra jobs, and i want to remind you that march of 2000, we did 430,000 jobs and six months later we were minus 250,000. at the end of a cycle there's people scrambling for jobs and capture the last amount of easily available jobs that are out there and then we roll over. i think that's exactly what's happening now. maria: how is it possible that we could create 528,000 jobs and be in recession? >> we're coming off a period where we had trillions of --

$3 trillion deficit last year in physical spending and that's down almost $2 trillion and this huge fiscal drag and last year there was a lot of construction jobs and a lot of jobs in the service sector that were available, and we had a labor shortage so we're still kind of like some of those jobs were really still available in recent months. there's a lot of part-time jobs that are being taken on but if you look at unemployment claims, the move over the last three months from the low, at the pace of that movement is unemployment claims and that's up there with am the big recessions in terms of its move over the last three, four months and that percentage move. >> whether the administration wants to call it a recession, transition, or banana, we're head intoed some tough times and the markets seem to imagine that they've discounted the worst of it when as this number indicates, we've barely begun to

see any of the shoes drop. maria: stephanie pomboy and larry mcdonald, thank you very much for joining us together on this weekend's news. thank you so much. we'll see you both soon. meanwhile, texas is sending the first buses of illegal migrants to new york city. it arrived at port authority friday as the crisis at the southern border is escalating and officials in texas say biden policies are to blame. what i saw and heard when i went back to the border this week and got another first-hand look, stay with us.

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maria: welcome back. texas has been overwhelmed with illegal migrants. now governor abbott is sending them on buses to new york city as well as dc. here is exclusive video from

friday morning where the bus, the latest bus arrived atd port authority in new york city carrying migrants. this week, i visited the border for a fifth time to get an update on the deadly crisis happening there. take a look. >> we're seeing so many americans that are buying in lethal poison through social media platforms and because of that, americans are dying every single day because of fentanyl poisoning. they use color to attract the attention of young adults. it's a form of advertisement that these organizations use and again, just don't know exactly what you're ingesting till you actually are able to see these drugs and perform analysis on them and see what this drug contains but, you know, we know for a fact the majority of the pills coming across contain some type of fentanyl poisoning in them. these are weapons seized by our dps personnel along the southern border. right now because of operation lone star, the personnel seized over 6,000 weapons associated

with criminal activity statewide. example of some of the weapons being smuggled into mexico to supply the criminal organizations and cartels and these are different platforms of rivals, ak-47, ar-15 rifles but example of tougher weaponry being smuggled into mexico. >> the sheriff found 187 dead migrants and the sheriff said they find about one in five. so the regular facilities overflowing and governor abbott gave them this port morgue and it's packed. there's only two empty spaces. the body -- the first body that hasn't been stacked up yet, that's one we recovered. >> it's heart breaking what our border patrol agents are going through because they're not able to do their jobs successfully because of the policies that biden is putting in place, that's why it's so important that we put back in place the policies that were working. you know, again this should not be political. i want the biden administration to put the american people first

and if he actually cares about immigrants, for him to secure the border. >> it's not a democrat and republican issue. it's something we need to secure. it's hard being a landowner. it is hard because as maya said, people have to carry guns and defend themselves because of what they're seeing out there. that's what's wrong with this administration when it comes to border security. they pay attention to only the immigration activists but that's only one part. what about us that live on the border? what about the men and women in green that work there? they're frustrated and we've got to make sure that we secure the border. when people say the border is secured, it's not secured. >> the biden administration border patrol were dropping these migrants off in the small local communities that were incapable of dealing with the large number of migrants. they've talked about maybe busing these migrants to san antonio, assayed don't do that. i said, don't do that. i have a better idea. we'll put them on buss and send them all the way to washington

dc. for one, we needed to relieve the congestion here on the texas border. but now people in washington dc and new york are seeing what texas has to grapple with. i have news for them, they haven't yet seen the fullness of what we're busing up there. maria: so has joe biden called you? >> never. maria: watch an encore of my full special on the broken border crisis airing tonight right here at 8:00 p.m. eastern-on fox business. don't go anywhere, more wall street right after this.

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♪ if you shop at walmart, you get it. ♪ you know how to spend a little less to get a little more to make life a little better. ♪ maria: welcome back. we have another show in the works and tune in at 7:00 p.m. on fox business and i'll see you on the fox news channel sunday. join us live, 10:00 a.m. eastern on sunday morning for the fox news channel sunday morning futures. i've got exclusive interviews with senator ted cruz, congressman lee zelden and senior adviser steven miller and

price of principle offer allen my special guest sunday at 10:0. on fox business start smart every weekday from 6-9:00 a.m. eastern for morningings with maria and start your day with us on fox business. that's it for now. thank you for joining me and have a great rest of the weekend and i'll see you again next time. gerry: hello. this week on the "wall street journal at large," nancy pelosi defies china and pays a visit to taiwan. is this bold leadership and defensive freedom or reigns leadings kick that could rebound on the u.s.? job growth in july and democrats are set on hitting the economy on massive new tax in spending bill and arizona to michigan, republican voters endorsed-backed candidates and signalf