i would give this some stock or going. jack: $20 at dick's or walmart, great ideas and thank you. to read more check out this week's addition, barron.com, follow us on twitter,@barron online. see you next week on "barron's roundtable". >> from the fox studios in new york city, this is maria bartiroma's wall street. >> happy weekend to all, welcome to the program that analyzes the week that was in position you for the week ahead. i and maria but aroma. do democrats have the all? kirsten sinema suggesting she's on board with her party's massive spending and tax bill. with some new changes, democrats hoping to ram the bill through this weekend,

senator lindsey graham is here with a response. big surprise in the number of jobs created in the month of july. what this means for the economy and what the federal reserve will do now. mountains of guns and drugs seized at the southern border in texas. my trip to the border this week as our broken border crisis continues but first changes made in the so-called inflation reduction act. key democrat senator kirsten sinema's vote this weekend, the interest taxes been replaced by a buyback tax which would cost americans $333 billion in new taxes. senator joe manchin says they should like this bill. joining us is lindsey graham. thanks for joining us. joe manchin said you should like this. do you?

>> i hate it. i like joe manchin he stood up to the liberals on occasion but he is empowering the left. he is going to increase inflation. the congressional budget office said in 2023 inflation will go up or down. the joint tax committee, new taxes will be passed on to the consumer, $70 of earned income. when it comes to obamacare subsidies, if you make 400,000 as a family of four. every problem we are facing is worse. they told you the american rescue plan would rescue you. it doesn't reduce inflation. if you believe the border is secure and the taliban and didn't know ayman al-zawahiri was in couple you will believe this heels inflation. viewed out other things you should doubt this.

maria: 230 economists sent a letter saying this would add to inflation. we know that inflation was 1.4% when president biden walked into the oval office and now it is 1.4% largely due to this spending. why are these senators agreeing to it? what do they get? >> it is in democratic dna to tax-and-spend. this is all they know how to do. joe manchin helped us on numerous occasions but always there for them when it comes to tax and spending. no one has mentioned this, there is a 16.4 cents per barrel gas tax on imported oil that will be passed on to the consumer. they are resurrecting attacks that was killed in 95, a vampire tax and reimposing it on imported oil which will make gas go up, not down. there is nothing in this bill,

it grows the government, taxes will be passed to the consumer. this is the worst possible outcome. when it comes to foreign policy biden's administration, when it comes to domestic policy, tax and spend. maria: you have a bloated irs that president biden wants to higher 86,000 agents to audit everybody. tell me what that means. is this the same item that was in the build back better agenda where he wanted to see all transactions in your bank account, $600 or more? >> this is a fraction of build back better but it is bad policy at a time -- have you ever traveled down 95, gone from new york to florida? have you ever done that? kerrimac yes.

>> there are a bunch of southern towns that make a living off of you coming through, they are 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. the irs is a giant speed trap for uber drivers, people working in a restaurant, and take this money, higher these agents and go after everybody in america to suck you dry. maria: i want to move on to china because we have new developers, china still fuming over nancy pelosi's trip to taiwan, large-scale military drills near taiwan this weekend, you sponsored a bill that would name taiwan a key ally. the white house is trying to stop that bill, the us delayed scheduled missile tests. wise president biden and the

democrats rolling over for the ccp anytime it wants, and nancy pelosi to the right thing by going, don't you think? >> totally. i like joe biden is a person but president biden and his team are dumb and weak in the face of aggression. this is ukraine, i along with some democrats, begging the biden administration to sanction putin for the military buildup before the invasion to let him know if you try to going you will pay a price, we will hit you before you go in. before the invasion, so they are ready to fight. they took a different path.. what are they trying to do? we are trying to increase economic support. try to bring the more weapons to deter china and undercutting our bill with cyberattacks.

trying to water down a bill that would help taiwan, missile marches by the american military because they don't want to provoke china. anytime they are faced with aggression from a bully they get week need which means more bullying. maria: china's putting sanctions on nancy pelosi, you are seeing the ccp pushback, stopping cooperation with the united states and there is already a contract in place taiwan paid for certain equipment, military armament, and we haven't sent it to them yet. >> there's a supply-chain problem. they are billing jets, f-16s, 63 they need to bolster their defense. if we let ukraine go, we don't do well in ukraine china will

go to taiwan. bob menendez and myself are 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 go in f 35s and refrigerators made in taiwan. do you want to give communist china a monopoly on the chip market, it matters what happens in taiwan? they left afghanistan. within a year, the leader of al qaeda thing in the guesthouse of the number 2 guy in the taliban government showing a warm cozy relationship. you have been to the border. it would be easy for a group of terrorists to come to the border and kill a bunch of us. the rise of radical islam under the caliban, a broken border, you have the administration

trying to stop congress from bolstering taiwan when they need the help. maria: i am back in the border, you sent a letter to homeland security secretary mayorkas sounding the alarm on our national security in the wake of the assassination of the 9/11 mastermind ayman al-zawahiri. you are concerned about terrorists coming over the southern border. how many have been apprehended already? >> 56 we know of. we caught people plotting to kill president bush 43, if you are concerned about the rise of radical islam in afghanistan, that group coming through the southern border, i am very concerned. he says there's an overwhelming

desire to hit america. the new al qaeda leader and they will pick somebody, that guy has to out to everybody before him to get street cred with radical islam. how would you do that? massive attack on the united states would make him a hero overnight. i wrote letter to mayorkas, there has been a 479% increase from 220, 74% to 22-20. they are processing illegal immigrants, how easy for group of terrorists to shoot through the gap. begging him to change policies that led to this invasion and setting up a terrorist attack. maria: great to have your thoughts on this was appreciate you joining me. more on threats at the border. more on threats at the border. a huge surprise for the ♪ ♪

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maria: welcome back. let's talk markets and look at where the market ended after a wild friday. the month of july, 120,000 jobs added to the economy one 250,000 were expected and unemployment rate tips lower to 25%. we are looking at what is ahead, the president of macro maven, the founder of bear trap support larry mcdonald. thank you for being here. give your assessment of this jobs report. this was better than most people expected. >> reporter: surprising number, so strong it makes you suspicious about what is going

on and in the weeds was-368,000 and there was a decline in the nonseasonally adjusted, month-to-month changes, and seasonal factors to adjust that. we will see what happens on revision but the real take away as we are dealing with a tight labor market but a lot of this is very lagging indicators. every indicator other than the headline payroll number has shown a decline in employment activity whether it is small business hiring, the ism survey, regional fed surveys, consumer confidence indications on the job outlook have soured but the number one input as you know and i have been talking about, what happens on the profit front and we on the back of a real slow down.

i think those profits will go into recession and decline which would presage some declines in the employment picture. maria: now that we see this number for the month of july, there's a 65% chance markets are expecting a 65% chance the fed raises rates by another 75 basis points. we know things are slowing down. we are watching the macro story, some are cutting jobs, freezing hiring in the tech sector. what is in july? >> talking to institutional clients in a live chat we run a live discussion with 650 institutional investors, there is a narrative that is very powerful, two or three people 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 taking on a

job because of inflation pressures at home. the assets have been hit with stocks and bonds to -- a lot of stocks and bonds, for stocks and bonds but the bottom 50%, those people are a real pain so a lot of good time jobs, people taking on extra jobs, march of 2000, 240,000 jobs, 6 months later we were-250,000. at the syllabus cycle, people scrambling for jobs, they capture the last number of easily available jobs and that is what is happening. maria: how is it possible we create all those jobs and be in

recession? >> we had trillions, $3 trillion deficit last year, fiscal spending. this year, down 2 trillion, this huge fiscal drag. there was a lot of construction jobs, jobs in the service sector the were available. some of those jobs still available so a lot of part-time jobs taken on but if you look at unemployment claims, at the pace of the movement, it is up there with the move over the last three or four months. >> whether the administration, whatever they want to call it we are headed into tough times and the markets seem to imagine

they discounted the worst of it when as this number indicates we have barely begun to see any of the shoes dropped. drop. maria: thanks very much for joining us together on this weekend's news, see you both soon. texas is sending the first buses of illegal migrants to new york city. arrived friday as the crisis at the southern border is escalating. officials in texas say biden officials in texas say biden poli ♪ ♪ ♪ ♪ we believe there's an innovator in all of us. ♪ ♪ that's why we build technology

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maria: texas has been overwhelmed with illegal migrants. governor abbott is sending them on buses and dc.

exclusive video from friday morning where the latest bus arrived in new york city carrying migrants. i visited the border for 1/5 time to get an update on the deadly crisis happening there. take a look. >> so many americans buying poison through social media platforms and americans are dying from fentanyl poisoning. they use color to attract the attention of young adults. they don't know what you are adjusting to and everyone who sees these drugs to form analysis on these drugs but the majority that are coming across have fentanyl lethal poisoning. along the southern border,

because of operation lone star, seized 6000 weapons associated with activities, the weapons that are being smuggled into mexico by the common organizations and you see different platforms of ak-47s but a tougher weaponry that is being smuggled. >> the sheriff found 187 dead migrants, that is what they found in the sheriff says they find 15. the regular facilities overflowing, you see there's only two empty spaces. the first body hasn't been stacked up yet. >> heartbreaking to see what border patrol agents are going through because they can't do their jobs because of the policies biden is putting in place and that is why it is important to put back in place the policies that were working.

this should not be political. i want the biden administration to put the american people first and if he cares about immigrants for him to secure the border. >> it is something we need to secure. it is hard being a landowner because people have to carry guns and defend themselves because -- that's what is wrong with this administration when it comes to border security, they pay attention only to the immigration, that's one part. what about us that live on the border? what about the men and women in green that were care? they are frustrated and we've got to make sure we secure the border. when people say the border is secure is not secure. >> the by demonstration border patrol dropping these migrants off in local communities that were incapable of dealing with the large number of migrants. they talked about bussing migrants to san antonio. i said don't do that. i have a better idea.

we will put them on buses and send them to washington dc. for one, we needed to relieve the congestion on the texas border but now people in washington dc and new york are seeing what texas has to grapple with and i have news for them. they've not yet seen the fullness of what we are bussing up there. maria: has president biden called you? >> never. maria: you can watch an encore of my special on the broken of my special on the broken border crisisisi trelegy for copd.

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maria: we have another big program in the works, tune in to wall street every friday night at 7 p.m. pm on fox business. i will see you on the fox news channel sunday, join us at 10 am eastern for the sunday morning futures, exclusive interviews with senator ted

cruz, lee zelman, white house senior advisor stephen miller and the price of principal author alan dershowitz, my special guest sunday at 10 am. fox business starts from 6:00 tonight a caucasian for "mornings with maria" on fox business, start your week with us and your day every morning on fox business, that will do it for us, thank you for lllllt 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 signal