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tv   Cavuto Coast to Coast  FOX Business  September 26, 2022 12:00pm-1:00pm EDT

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first to you, ashley. >> chlorofill, a guess. stuart: i will guess carotene. went with the obvious one. chlorofill. who knew these things. what the heck is carotene? neil cavuto, it is yours. neil: dashing in and out of dow jones industrials, finishing off of 150 would do it. in and out of that right now. meanwhile we're dealing what is, well-trumpeted as such, problematic month. september is generally considered the worst month of the markets. it is living up or i should say down to that with major drops in all the major averages. something would have to change mightily the last few days to reverse that. we'll keep an eye on that. you know the concerns of fears that interest rates keep rising,
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because right now they have to. inflation is out of control pretty much in every country on the planet. most notably in this one right now. they have no way to gauge the increases we've seen on the part of the federal reserve have done the trick. apparently at this point when it comes to inflation they have not. although there seems to be higher risk every day when you get more news of a slowing economy. scott martin digesting all of that right now, kingsview asset management. scott, you know, no matter how often, many times they hike, even with the prospect now of more hikes, bigger hikes. stocks, are just continue to take it on the chin because they are waiting to see some demonstrable results this is working and it is not, right? >> stocks are hurting for sure, neil. you said bigger hikes. my goodness, man if we're not as big as we need to be at 75 base skis points a click, yikes! we're back to the '70s, i remember very well, thank you
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very much. neil: oh, please. >> i digress. here is the thing, i guess the thought is this, the market is really starting to wait for this period where we do have some visibility when the interest rate hikes will stop or at least she down from that big rate. i think that is what the market is waiting for a fed governor. we saw susan collins comment about a few more hikes. maybe see peak inflation sooner than later. more stuff from the fed governors, eventually fed chairman powell about slowing that rate hike pace might give stocks a boost here. neil: doesn't seem like that will happen yet. i think he has placed his lot, channeling paul volcker. it worked forepaul volcker even though you know, volcker was notoriously famous for not caring a hook about impact on stock market. good thing because the market was collapsing while he was doing it. it seems like jerome powell is ready to follow that do you agree with that?
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>> i don't agree with the fact he should do that. i think he is talking tough now because he was so say weak or meek for many, many years leading into this. i think he wants a stake in the ground saying i'm not doing that again, i'm not making that mistake again. as soon as the fed makes that mistake again i believe they will turn dovish. don't forget, neil, as we've seen in the past bear markets in very emotional trading scenarios, whether it was 16, whether 2009, certainly 2001 and 2002, the market will rally ahead of that slowing pace of the fed. the market will rally ahead of that next up swing in earnings or economic data. so to get out at this point if you have a long-term horizon as many of our investors do, we're adding to positions here because of the fact that i believe the market will rally ahead of what is anticipatory to come. neil: we'll watch it closely. scott, great catching up with you, even though i don't believe a word you were saying about your memories from the '70s, unless you were in the womb.
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>> i forgot already. neil: new, my friend. peter doocy at the white house. i know wet get into the president's aapproval ratings, the fact of matter he doesn't follow the markets, brags about that unlike his predecessor he doesn't obesest over this stuff. is that true? because now and then it might be wise for them to give a peek. reporter: it will be interesting to see if it is still true, neil. this president i asked him about the markets before, he bragged i don't pay as close attention but the market is higher now than it was when trump was in office. that of course now is not true. that does not hold. anybody that has google or can see the bottom right of the screen at anytime knows that is not true and president biden is so underwater, he is about as underwater as can be when it comes to the economy. right now 74% of those polled by "the washington post" and abc say the economy is not so good
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or poor and that leads to this, a 39% approval rating. so now you got people like joe manchin, democrat of west virginia, calling on the white house to bring prices down by maybe producing more energy at home? >> you put more product in the market don't you think prices will come down if you are independent and basically we are secured as a nation? you cannot remain the superpower of the world if you don't have energy independence. it doesn't work f you're relying on the rest of the world to produce the energy for you that you won't do for you self, and your allies are look -- reporter: trouble lies ahead of the president only 35% of democrats want him to be their party's nominee in 2024. his side is trying to help the president trying to make the midterms all about women's rights but republicans are hoping to make it instead about the economy. >> gotten us here with their far left socialist policies. so the commitment to america
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showing people, if you elect republicans to replace these democrats who have been voting for socialism we can actually confront these problems and we're showing the country the bills we would bring to a republican house floor to address all the problems that joe biden and nancy pelosi and far left socialist friends have created. reporter: white house officials got as agitated as anything that i have seen in about two years when people were describing the two consecutive quarters of negative growth as a recession but it's obvious despite the fact that they came up with a different definition for two consecutive quarters of negative growth, voters just are not buying it ahead of these midterms. neil? neil: voters get annoyed when you keep telling them the problem is they're imagining it pretty much, that things are much better than they appear. when they go to the grocery store they get a different sort reaction, at least ones that are repeatable. thank you, peter, very much. peter doocy at the white house. go to kevin hassett, form coins
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sieveeconomic advisors chairman under president donald trump, author of the drift. kevin, give us your view of the drift right now, markets, what they're telling us? your old boss liked to focus on them because they often times were hitting records. not so right now but we're told this president doesn't bother obsessing about them but now that they're under water in his presidency, i would imagine he is at least aware of it? >> right, one would hope but you know i've been surprised about the things that president biden and his team are not aware of. the fact is that a president should focus a lot on markets. the reason is that markets, as you guys just discussed are forward-looking. so markets, if they see a turning point coming if they see a pit of despair coming you see it in the market today. right now the markets are down enormously. i guess we haven't seen today yet, about 23% for the year. i don't think that is anywhere close to the bottom, because the
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fed is going to continue to raise interest rates and the white house is continued to be in denial. i absolutely think that president biden should be looking at the markets. he should be thinking about why the markets are rejecting his policies. then he should think about adjusting those policies. until he does, i don't think we'll really see a bottom. neil: kevin, if i could switch what is happening abroad, skip across the pond to britain right now where the bank of england would not hesitate to change interest rates by as much as needed to bring down inflation and what was rattling the british markets today as was rattling them last week but these latest proposalses on the part of liz truss, the new prime minister, to rein in, try to rein in what is happening on the energy front where utility bills of 80% of brits, so overwhelming a lot of them can't pay them. >> right. neil: she is offering tax cuts but the tax cuts are being deemed inflationary by the markets and would make a bad thing even worse.
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it was an interesting take on that. i wonder what yours is? >> right. well i think that you know, the fact is that you get inflation when there is a lot of demand like we mailed checks to people and supply is constrained as it was here both because of the pandemic and because of joe biden's excessive regulation and tax hikes. and sew, if you look at the way ronald reagan and pole volcker defeated inflation they not only had high interest rates but supply-side tax cuts and a big reduction in discretionary spending t dropped more than 20% at the beginning of the reagan administration f you want to fight inflation, you're serious about it, a student of history, supply-side tax cuts but pay for them in big reductions in government spending and have the fed doing what they're doing. the fed is going alone. rowing with one oar. fiscal policy is if denial going the wrong direction with the student debt forgiveness n the u.s. we're not anywhere close.
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in the uk i would like to see more fiscal responsibility but i think the supply tax cuts are a good start, good step i mean you to get more supply ahead of inflation and liz truss is trying to do that. neil: the reagan distinction notwithstanding, deficits did alan as time went on. a lot of revenue came into washington as you point out, politicians proved able to keep spending revenue and then some. do you worry if republicans would take charge, not that you would worry about that we could face a problem after different stripe here? >> right. what will happen if republicans take charge we're going to see, is joe biden able to work with republicans or not? if he is, there are a lot of sound things that you know perhaps speaker mccarthy has planned for next year because they understand that it is time to act. it is time to make sure that the expiring trump tax cuts don't expire. and to get more fiscally responsible. i could say as an economist if you look at economic history it
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tends to be the times when we have divided government markets are happiest and policy is the most sensible because it is only sort of sound ideas that can get both sides to go through. so i would actually say that if republicans capture the house that within a few days of that, that would be when the stock market would bottom but october is going to be very, very scary and markets will be a lot of volatility because people will be worried it will go this way or that way. if there is a little bit of good news for democrats, people think this profligate spending attacks on the supplied side it will continue for two more years, market will think the fed will left rates to 8 or 9% because they're the only game in town. i think we'll have a really terrible october. we'll probably hit bottom if republicans capture congress. neil: so do you think part of this selloff that has been happening and building momentum has to do with that prospect that republicans don't do as well in the midterms? they might take the house. it doesn't take real leap for
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that to change but anything else big or certainly like a 1994 gingrich revolution wave doesn't happen? that is being partly reflected in what the markets have been doing? >> right. i think the absolutely you're right. that the market has been surprised by fed policy and market has been i think surprised by the comeback of democrats in the polls. i think that is probably attributable to both the sort of soap opera of president trump, attacks on him and also because of you know, abortion being such a hot button issue. this election will be about a lot of issues but as an economist i can say if you want the economy to turn around you have to stop the socialist nonsense the biden and the democrats have been doing the last two years. neil: we will keep an eye on it, kevin, great catching up with you. be well. >> good to see you neil. neil: kevin hassett. the dow down 165 points. we're waiting to find out if we close the day in bear market territory. all you need to be down more than 150 points. we're obviously intraday back into bear market territory as we
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were on friday. closing that would bring us back to levels we've seen not in two years. the s&p 500 and certainly what we've been seeing with the nasdaq, rich in all the technology stocks that has been cut by a third. today seems to be the time when most people seem to think that the other averages, particularly the dow 30 follow. stay with us. ♪ this isn't just freight. these aren't just shipments. they're promises.
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>> now some counties have begun issuing evacuation orders or voltairery evacuations. the important thing for people to know to know the zone that you're in. the florida national guard has activated 5000 florida guardsmen as well as 2000 additional guardsmen from tennessee, georgia, and north carolina, that have been activated to help. we've all -- neil: all right, florida governor ron desantis makes it clear he will not take any chances here already stating the obvious, that this hurricane ian is a big storm, a very big storm. right now targeting the western part of the sunshine state but as you know, given the geography there, the fact it takes you two hours, 2 1/2 hours to go from the west side to the east side doesn't take a big stretch of the imagination to know the whole sate is a bull's-eye for
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all of this. let's get the latest from adam klotz, following from the fox weather center. how does it look thus far? >> neil, this storm strengthens as it spins over the warm waters of the caribbean, it is category 1 with 80 miles an hour t will intensify as it lifts north and watches expand from cuba run being up into florida. this will only hike as the system approaches. here is what we're looking at timing goes, winds go, perhaps winds up 140 miles an hour, this would be a category 4 hurricane across the gulf of mexico, making landfall somewhat wide area that is the cone of uncertainty from as far south as fort myers, stretching towards panama city. around the florida big bend. timing depends if it drifts to the west or to the east. wednesday evening getting up
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closer to the pampa area by thursday morning. it makes itself up to the florida panhandle, maybe friday morning where the system would land. what is important as you're running up the west coast of florida, it is not only about where this makes landfall. you see there is your center of circulation, that has to hit landfall to be considered landfall. it is a large storm. winds batter the coast as system i live thes up. there will be wind and rain across the entire western coast even if it doesn't make landfall. storm surge landfall warnings are in place. fort myers, towards testimony testimony tampa pushes up north. storm surge up to nine fight would do a ton of damage. that is damaging part of the system like this as it makes the move to lift to the north. there is lots to watch, neil, yes there is big indecision ultimately where it makes
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landfall. it will impact a lot of the state either way. neil: a crowded state at that a lot of people there, adam, who moved there have no, ma'amry of, expertise or knowledge of hurricanes, what to do but adam, thank you for your guidance. adam klotz from the fox weather center. nicole valdez fox weather reporter extraordinaire. where can i go to track this dead on and she chose tampa, a brave woman. nicole, tell us what you're seeing there, what things are looking like there as folks brace for this? reporter: neil, good afternoon. well moments ago thousands across the tampa area were told time to get out. manned tear evacuations over next 24 to 48 hours we're expecting that to expand potentially to include more than 300,000 people in tampa bay alone this is absolutely not a warning to take lightly as adam mentioned. there is storm surge estimates
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could reach 15 feet if not more. the width of the storm, more than 500 miles. it is absolutely going to be a dangerous next few days here across the gulf coast of florida here. floridians thankfully so far are acting on those warnings. we've seen people rushing to the grocery stores to get their hand on water, batteries, food, medications, anything they will need to last maybe four or five days if they do have to leave their homes. urn fortunately fuel is already running low in some portions of the state. meanwhile we are watching people wait three hours if not more for sandbags to try and protect their homes. >> i have a three-year-old. i'm trying to you know, be prepared. so if anything happens, either i take the truck and i just leave, or if i have to say i can't leave, i have to have things that i need. so that is what i'm trying to be prepared. that's all. reporter: governor ron desantis warning floridians they could start to feel the effects of ian
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for the next 36 hours prior to that landfall. to paint a picture here. he says if you live anywhere near the water you should look for shelter 20 miles inland, whether that is staying with a family, a friend or at one of the more 50 shelters that should be opening up later this week. the governor saying we will not be remembered for how we respond in the next 96 hours but how we recover, neil. neil: thank you, for all of that, nicole. be safe. nicole valdez in middle of all of that, tampa, florida, the direct site of the storm as it stands right now. meantime, are you ready for a little christmas shopping? might seem a little early. we learned amazon is goosing things a bit having a second prime day series of sales, october 11 through the 12th. walmart and target say we will have early shopping incentives for santa claus with the whole idea get to the stores and fast,
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neil: all right. gas prices are now up for a sixth consecutive day even as oil prices continue to collapse, some people say recessionary levels. don't know if it is going that far right now but the trend we were seeing almost 100 days as gas prices were going down, down, six days in a row are going up, up. a lot of people are reading oddities in that. there is significant delay as you probably know with oil prices, what happens on the gas front. we'll keep an eye on it for you. do not think retailers are trying to woo you in this environment where you're wrestling with those gas and other prices. they're offering a number of incentives. you can know what is going on with amazon. going to bring back a couple
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more prime days in october. we've got walmart, target, trying to entice you with sales of their own. i think christmas is still quite aways, but obviously, it is never too early to get the sales going. doesn't kelly o'grady know it. it is so cool to see kelly here in person. for a while i thought she was a hologram in los angeles. she is not. she is a human being and here. you're here all this week. reporter: i am. i'm not even a spam bot our favorite elon musk topic we normally go on. neil: get a lot of e-mails from those guys. what is going on? they're obviously trying to entice folks to order online or in stories? what is happening. >> we love a good sale. last two years we saw americans such hop early with the supply chain crisis. the trend continues. folks are fighting inflation. retailers are expecting lower sales. i want to give you a few numbers for context. they're expecting a four to 7% increase in sales. that is extremely low when you
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factor in the fact last year they saw a 16% bump. what we're hearing from shoppers they will be more judicious about deal hunting. that is fueling this push for early discounts from the retailers. walmart announcing they are not waiting for black friday. october is go-time. expect to see deeper discounts. they are extending the return window to entice shoppers buy now, decide later. target is following suit. the holiday sales what we call deal days, october 6 through 8. if you shop at target, i certainly love it, they have the price matching feature, they actually will be starting that early as well. these retailers are managing an uphill battle because shoppers looking for being more frugal with rising interest rates and shop sooner toe manage the cash flow situation. not carry as much balance on the credit cards. star guests they're offering discounts to avoid losing holiday sales to folks like amazon, you mentioned earlier, they're adding in another prime day. this will be named prime early
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access sale. it will be october 11 -- neil: early access? is. >> reporter: early access, trying to get everyone, prime day is lot better but that will be october 11 to 12th. 48 hours, hundreds of thousands of discounts like we're used to. the thing i would be keeping an eye on, they're dangling the early discounts but retailers they're always touting their numbers come thanksgiving. you know, black friday. we might not see as much of a high if people go to shop early. last thing i would say, walmart, target, amazon are industry bellwethers, right? >> that's right. >> signal what is coming for the rest of the retailers. still too early to say. shop early if you have something on your list. with a looming rail strike we might have other issues coming. neil: that's right. that is not settled yet. reporter: exactly. neil: real quickly, i don't know a lot of stores in l.a. but a lot of them around here are decked out for the holidays. a desperation move? reporter: i wouldn't say the winter holidays yet.
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it is also very strange in l.a. you see christmas lights on palm trees but definitely halloween. that is everywhere. neil: that is weird. just weird. no offense to those that do that. a little unnerving. you're used to it. kelly, great seeing you all this week. kelly o'grady on all of that. gerald storch with us, big cheese at toys "r" us. now a retail svengali. gerald, you heard what kelly was outlining, a big names with big sales. seems to me earlier, and earlier, gerald. how do you see the season going? >> neil, i'm an optimist just like you are. i always believe in the american consumer that they will spend everything that is in their pockets and certainly when it comes to christmas. the problem is, there will not be as much in their pockets. so with rising inflation, particularly in food costs, more of our money going to necessities. you see the biggest growth of retail is in grocery sales for
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use at home so that is going to be the trend as we get to the holidays. as you know many retailers had a very tough spring. we'll get early. be very promotional. that sounds like that will be good news. it will not really be. could be something of a retail bloodbath, if you will, as everyone tries to clear out excess inventory which is simply a huge problem among many retailers right now, particularly apparel retailers and home retailers. i think it will be one of the toughest christmas we've had in a long time, neil. i you can talked to every christmas season 15 years. neil: you and i talked about the first christmas, you said the frankincense and myrr market was awful. when all else on the line parents will shop for their kids. to me it depends on the day with the kid but i get what you're
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saying. sounds like the numbers you're outlining could be pretty bad. sort of handicap what looks good, what doesn't look good, what items look promising because sometimes they don't follow what you would think. apple is selling out of 1000-dollar plus iphone 14 models and expensive watches. so it depends i guess, but play it out for me. >> look i think anything trendy like a new iphone is going to continue selling but, apparel is just terrible. clothing is terrible. it has been bad for a long time. had a little up tick after the pandemic. that is over right now. it is crashing again. you saw macy's and kohl's today hit their 52-week lows. it is a terrible time to be in that business. i think there are major structural problems with the economy as a whole. we kind of have the fed pushing the brake while the government is pushing the accelerator at the same time with the same cart. dragging two feet. neil: good point.
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>> i don't think we'll see things get better very quickly. toys, i always felt are somewhat recession-proof but what parents do they will buy one less toy or something less expensive when times are very tough. again this isn't the worst it has ever been in history. we're not back in the great depression, anything like that, but it is simply not going to work what is going on with the economy as a whole. inflation will not go away until the fed kills the consumer that is the only tool they have. structural problems with employment, energy, manufacturing, supply chains, with government spending. we say we will solve by raising interest rates. all that does is twist things around so people run out of cash in their credit card rates go way up and mortgage goes way up. they simply run out of money. what do you do then? you buy food. food will keep looking good. if i buy one stock it is always be costco. one of the largest grocers in the country. they offer great value every day and value become as watchword as
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you have a tough time. neil: that makes perfect sense. the other issue you got into last time wechatted gerald, if you're willing to pay the higher prices good luck getting what you want with supply chain problems. we hope the rail strike is resolved. looks like it is not a done-done deal. leaving that aside, forget about cars, getting a lot of electronic items, pc market is affected by this that could be a problem if you're willing to absorb the higher prices, good luck finding 9 item, right? >> i think you're right. shortages are part of problem right now. some of that is cause the by covid of course. what has happened in china as they shut down plants and all the rest of the world here but a lot is caused by the government. this is, this is economics 101. you can't spend as jamie dimon said you can't spend $6 trillion not expect inflation. you can't overregulate the economy and have things work smoothly. shortages, rising inflation, these are all hallmarks of what
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happens when the government gets too involved with the economy. started with good intentions as many things do with covid. now they have to let it go, let, corporate america do what we know how to do. neil: yeah. you know how to do it very well, gerald. thank you very, very much. good seeing you, gerald storch, storch advisors, former head of toys "r" us, successful head of that operation. meantime we're trying to avoid a government shut down could be five days away. they hammered out something in negotiations that would include more money from ukraine. that is just part of it. they might agree for more money for ukraine but they're not agreeing for more money for a bunch of other things. right now the shutdown is still on for midnight on friday. we're all over it. ♪.
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♪. neil: all right. hate to rain on your parade here with the selloff that just continues ad nauseum here but there's a possibility on friday we could be looking at a government shutdown. they have to get the books in order by the end of the fiscal year, and that would be friday. chad pergram where things stand right now. chad, what's happening? i can let you know the update on that we just don't know. the bottom line they're arguing over details and just how far they can go with a spending measure that would add more money for oil permitting and the rest. joe manchin is trying to pursue that, attach it to a measure to keep the government lights own. i will speaking to senator manchin on you're world "your world" 4:00 p.m. eastern time. back with chad. i think things are good.
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that is the big worry that they -- reporter: seemed to cut us off there. maybe we didn't have government funding for us here, neil but we're back. funding the government will hinge on a deal with joe manchin on energy permits. republicans won't support the plan. expedited permits are suppose towed be a part of a temporary government funding bill. >> when they say they weren't involved everything i have done for the last 12 years working with my republican colleagues has been incorporated in this. we have talked about it, worked about it. so they had a tremendous amount of input in this, the process down to a party-line vote which is unfortunate but what we're dealing with in a toxic political atmosphere. reporter: the bill getting manchin to support the democrats climate health and tax bill is coming due. that could risk a government shutdown. man chin cut a deal with senate majority leader chuck schumer to load permitting provisions on spending bill but a coalition of democrats are threatening to vote no. democrats oppose the provision
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on environmental grounds. republicans demand a bill free of extra add-ons. >> more to join us, calling more or less what you described a moment ago which is a clean continuing resolution that will take us into the next congress and thus allow republicans to set the agenda. reporter: 60 votes are needed to clear a filibuster a test vote comes tomorrow night. >> i don't think they have 60 votes in the senate. it's very, it is all about joe manchin and west virginia on his permitting. it is all about one pipeline for him but not about permitting for the rest of the country. this doesn't go nearly far enough. i expect it to go down. that cr, continuing resolution will go back to the house. we'll get it back late friday. reporter: schumer could be forced to strip the manchin plan out of the bill if it is blocked. government funding expires saturday morning. they're cutting it close, neil. back to you. neil: to put it mild my friend how many times you've been on
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this story. reporter: every fall, every fall. >> without fail. hillary vaughn on the rush regardless what happens by friday to spend money they have. hillary if i understand it correctly they either spend it or lose it, right? reporter: exactly, neil. for a lot of federal agencies it is kind of like christmas coming early in september at the end of the fiscal year. you're right they have to spend the money allocated for them, or, they lose that money. so of course most agencies instead of give unspent taxpayer cash back to the government they spend it. that has led to some agencies to make some creative and unnecessary purchases in the final days of september. government watchdog group opened the books that tracks government spending analyzed september, the september spending spree in 2019 and found across agencies taxpayer cash has been spent in some interesting ways, including spending half a million across the federal government on alcohol.
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3.7 on games, toys and musical equipment. a whopping 4.$6 million worth of lobster tail and snow crab. 6.2 million in golf carts, motorcycles, scooters, bicycles. 25 million on workout equipment and also 457.8 million on furniture. today republicans are renewing calls to rein in spending as another budget deadline is looming. if congress doesn't fast a resolution to fund the government before the fiscal year the government will shut down. >> fiscal discipline means we have to do our part in congress and stop out of control spending and wasteful spending this administration has pushed. this congress has spent more money than any congress on record. we have to stop that. reporter: it has been years, neil, since congress done their job and passed stand alone spending for agencies, the last
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time they did that was 25 years ago. neil: you weren't even born, hillary. how are you feeling by the way? reporter: i'm feeling great. things are going well. things are good. neil: remember you're chasing politicians for two, be careful. reporter: exactly. i am hoping it gives me luck. maybe they will take pity own the pregnant person running and huffing down the hallway. neil: they will run the other way. hillary vaughn. she is so good. this is coming up will not make you feel good, news out of the border is pretty alarming, the fact mexicans are but a fraction of those going over the border. a good many from places like venezuela. a good many of those from venezuela. they're emptying out jails. i kid you not after this. ♪.
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stewing and wondering what is going on. alexis in eagle pass. what is the latest here? reporter: hi, neil, good afternoon this latest case involve as migrant who crossed in eagle pass, texas, faces serious charges for running over, killing a sheriff's deputy. look at your screen. this is the mug shot from the county sheriff's department. he being held on $500,000 bond, charged with leaving the scene of a fatal crash. after investigators he went over the sheriff's deputy with front-loader truck. he took off. deputy michael hartwig was a 19 year veteran of pinellas county sheriff's department. they are grieving because why he was ever approved to work at the construction site. he didn't even have the proper identification. this happened at florida construction zone on thursday night. deputy hartwig was there patrol the area to make sure the crew was safe. when he got out of the car,
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police say salinas ran him over, hid in the bushes for nine hours when he was arrested. >> i told the other construction worker he killed a deputy and took off his hat, took off his vest, his traffic vest, handed it to him, told him to hide it, get rid of it. and he fled. reporter: this comes as smuggling cases, neil, are surging at the southern border. we see it every day. new dash-cam released by texas bps, fleeing from troopers, riding until the wheels fell off the car, crashing into a fence. seven migrants were hiding. each one jumps out and troopers chase them down. >> do you have an i.d., not just with you? no. reporter: that man was taken into discuss di, neil. he was 17 years old. migrants get into the u.s., some are smuggled around the country on private airplanes. on friday texas dps finding 19
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migrants in a private plane in mcallen, texas. they were from central america. they were in the united states a few weeks and staying at a stash house in texas. that is the fourth bust at a private house in texas. the question who is chartering these airplanes once the people get here? who is pay being for all of this? we're told the migrants can dish out enough cash they're chartering the plane here in the u.s. neil: they're not cheap to charter, thank you very much, alexis mcadams. don't say my next guest didn't warn you, republican texas congressman pat fallon. you warned us all about this. many across the border working with small percentages you could have nefarious elements making their way in. it is only getting worse. what do you do? >> well, thanks for having me, neil. you're absolutely right because the cartels know exactly what they're doing. these are the policies that enrich them. we do know that the migrants now
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coming from venezuela, cuba, nicaragua, believe it or not, neil, are almost equal to those that are crossing from mexico and the northern triangle, which would be guatemala, honduras and el salvador. this is remarkable. we don't have good relationship with nicaragua and venezuela. venezuelans are emptying the prisons much like the mayor rehe will boat relief in '90s. how in the world can joe biden sleeping a the night knowing he is endangering americans? neil: venezuelans says they are not emptying out prisons. that is exactly what is going on because some had prison i.d.s captured. leaving that aside they must not be the only ones doing so? >> that is exactly right. that is scary about this. the tale of the tape, in april we had 234,000 illegal border
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crossings, which was the highest we ever had in a given month that was 1258% worse than last april president trump was in office t was shattered in may with 241,000 illegal border crossings, 940% worse than last time president trump was in office, april to may. in august, count the known got-aways, nearly 1.5 million illegal border crossings. this is unsustainable this is not a crisis or hyper crisis this is catastrophe. neil: i'm wondering, your democratic colleagues, i don't know how much republican support, maybe we adjudicate these cases not just in mexico but on the southern border mexico has with guatamala, and a pros setsing center set up the u.s. would partly finance. i don't think, 44 million a year, seems low to me but leaving that aside. that, this would relief the stress on the border and compel the mexicans to liberate this more than they do and more than they have.
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i know i'm sort of generalizing about it. your quick thoughts? >> well you know, listen almost anything neil, is better than what we're doing right now which the biden administration is doing nothing. he hasn't visited border. kamala harris are the border czar visited the border once and didn't go to the problematic areas. president trump's wait in mexico works. somebody claims asylum. we know 99% of these folks are economic migrants, not political asylum-seekers. if you're venezuela, seeking asylum, as soon as you hit colombia according to the u.n. you can seek the asylum claim there. you don't have to transit six, seven, countries to come to the united states for economic reasons. anything that keeps the folks out of the united states while the asylum claim is adjudicated is better than the current situation. neil: very interesting, congressman. thanks for joining us, pat follow lon of texas hitting this head on. dow down 209 points. interest rates continue to back
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