stuart: all right. how many dr. peppers did "forrest gump" drink? ashley, you're first up. >> no idea. i will go with 14, number two. stuart: i will go with 13. how could you drink possibly more nan that. 15. i don't think that is something you can look up. thanks for all the help, ashley. my time is up. neil cavuto, it is yours. neil: stuart, thank you very much. we're up about 11 points right now. oil in and out of positive territory here. the focus today of course is what the president plans to do

about strapping the strategic petroleum reserve up to 15 million barrels. this comes at a time when that thing is running down really fast. it was supposed to be meant for emergencies. the p is of the view every little bit help. jacqui heinrich with what we can expect. jacqui? reporter: neil, today's release is the last portion of the 180 million barrels that the president began selling six months ago but what is concerning to his critics biden's willingness to continue dipping into the country's emergency stockpile and the white house so far not indicated how low they're willing to go. >> we have over 400 million barrels. that is a lot of barrels and we're going to use them if we need to but we want the industry to increase production right now so that their barrels, private sector barrels can come into the market. reporter: the strategic reserves are sitting near a 40-year low.

white house planning to buy back what they have already sold when prices fall back to 67 to $72 a barrel. keep in mind congressional democrats blocked a plan by former president trump to replenish reserves when oil was $24 a barrel. this plan will cost a lot more than it would have just a couple years ago. moreover the white house consistently claims they have very little control over oil prices because of external factors like russia's war in ukraine. right now officials are deciding whether the u.s. should stop selling, gas, diesel refined products overseas to keep prices more stable at home but the american petroleum institute warned that would actually increase prices, causing net loss in gdp, force refinery closures, also choke off energy supply to u.s. allies overseas at their time of greatest need. the white house is keeping a pretty tight lid on everything. >> would you today rule out an export ban that would send oil

overseas? >> i am not going to get ahead of this president. i'm not going -- >> that will the president address that specifically? >> i'm note going to lay out or preview what the president is going to address. reporter: republicans say this is a self-inflicted problem. >> should look in the mirror if he wants to figure out the reason for high gas prices. remember in the campaign he promised to end fossil fuels in america. that's why we have and energy crisis in america. reporter: we'll hear full details from the president when he gives remarks couple hours from now, neil. neil: look forward to that, thank you very much jacqui heinrich at the white house. want to go to kelly o'grady following other developments out of los angeles. another big thing we're looking for tesla earnings i believe after the bell. a lot of scrutiny for that for all the obvious reasons. kelly what can we expect? >> tech earnings is kicking off this week. it is my favorite time of the quarter. of course we're watching tesla. they report after the bell.

what we're looking for near record profits. the street is looking for 3.2 billion for the quarter. the thing to watch, any indication tesla may face a demand issue. analysts have grown more pessimistic about their ability to hit 22 target of delivering 1.4 million vehicles. they would need to have a record back half of the year to hit that and we're seeing all the economic turmoil and that sparked concern especially when the average price for one of their cars spiked 16% earlier this year. the other thing in play is the twitter deal. tesla stock is under pressure with musk selling 15 billion to finance the deal. if tesla puts out a good earnings report card. the stock would respond postively and might be a good time to settle more. they added in netflix 2.4 million subs. that is good. that is the beauty of low expectations. this quarter last year they added 4.4 million. so that 2.4 starts to look a

little bit anemic. the biggest driver hit content, stranger things season four and jeffrey dahmer package. like cable packages no cost to cancel. you're only as good as your last hit. they are launching two major initiatives, a lower cost advertising tier due out next month. limit to widespread password sharing. for streamers it is good and bad news. it shows folks are willing to spend with looming recession. beyond netflix, streamers are losing billions to chase subs. what i'm looking for upcoming earnings the time of profitability. the spending will become unsustainable, neil. neil: if you think about it so many of them ratcheted down expectations, anything on the upside surprises will be greet the favorably or that is usually the case. we'll see if this holds true later on. kelly, thank you very much for that. kelly o'grady. the dow is essentially even money right now. we're still in a bear market with the dow. we're down 21% which is what we

lost 35 years ago today in one day. the dow's swoon, 508 points the equivalent of a little more than 21% in one day. a equivalent falloff at these levels would be close to 7,000 points that was then. this is now. could history repeats itself on a day we always keep in mind that 1987, knight 29, you name the period, it is always that month. of course the most recent example was this day on october 19th, 1987. could it happen again? scott martin, kingsview asset management. we also have carol roth, former investment banker, war on small business. carol, if you think about it that was a war on investors period 35 years ago today. a lot of people said there would be a long stock market winter. it would take years to recoup that. it was less than a year. reflections on this day, what do you think? >> some people look at it as the

anniversary of the market crash but i actually look at it as the anniversary of monetary policy gone wild. this is when the greenspan put was put into place. the idea under the fed chair they would make sure the markets would be supported, do whatever they could and it really led to the increased boom and bust cycles. bernanke after him, yellen, powell have done much, much more, to me this is the anniversary of the change in the importance of monetary policy in the market. unfortunately i think that given that, given what the fed is doing right now, there absolutely could be another situation like this. neil: now the difference you always hear, scott, now, is that so much of the market has been rung out already. people forget back in 1987 we had fallen mightily from our august levels and we were already approaching a bear market going into

october 19th. not quite close to that but near that. i'm just wondering what is it that you look for when you look or plan for the unthinkable, a hit of that magnitude? >> yeah. crowded trades leverage, one thing, neil, in '87 carol referred to was a liquidity trap. the fed came in afterwards and cleaned up that is one thing last couple decades some trades got really crowded and leveraged. funds were borrowed against them. therefore they got tied to other investments. that is when the rush toward the door gets real serious and fast when prices of those investments can fall so quickly but the reality is these days we have the ability to massage, manuever around some of that concentrated exposure. given that we at least growth of the products out there on wall street we have the ability to kind of hedge our bets in other ways nowadays, therefore i don't think we're exposed to a crash of '87 like we did then.

neil: they sauls say history doesn't repeat itself but rhymes. >> right. neil: covering the '87 crash, we were a sense at the time inoculated from that tragedy, financial tragedy. that we were ripe for it. something called portfolio insurance which is supposed to buy you some protection and security in the event of a market freefall. what we didn't really grasp if everyone is running through the exit at the same time it is going to get crowd and it is going to get ugly and it did just that. fast forward, as you know, carol, to the financial meltdown in 2007 and 2008 the same notion applied that we wouldn't necessarily repeat that but we had another sin. we were packaging risky mortgage loans, prime loans, in these derivatives that ultimately torpedoed the market. do you see anything kind of like that or excesses? some said the bond market

excesses are being unwound as we speak a catalyst for something like what we saw 35 years ago? >> yeah. i mean you're talking about insurance and insurance is supposed to be a sort of a one-to-one hedge but what have we done with insurance? we have taken and created this sort of casino gambling. that is really the issue that happened in the great recession, financial crisis, it was exponentially worse because of the amount of insurance was exponentially higher than underlying assets. looking at derivative market now some people say the notional value doesn't matter but that is like 600 trillion and underlying value of 412 trillion. that we haven't learned our lesson under the inflation front. not to mention what the fed is doing is having a lot of implications in the global market and they themselves could create a crash. they have potentially risks and maybe a few black swans. neil: you know, scott,

individual investors were chasing that day, you know, they stayed away from the market for a while but the arrival of mutual funds that took up steam ironically after that, soon had us regrouping our losses, and recouping them as well but individual investors are now a dominant part of this market much more than used to be the case. now the professionals, supposedly had the expertise and all but sometimes they're no better than the people they lecture when it comes to absorbing body blows from the market. what do you make of the role of individuals today versus 1987? >> well we work with a lot of individuals every day, neil. i think when you're an individual investor in this market, depending on the growth, pullback you're experiencing in some investments it feels great or terrible. as an individual investor, set your course and path ahead of time before you pick the investments, some of the things

carol mentioned people have in the portfolios these days, you have to know there is a long term kind of solution or goal you're aiming for. the individual ins investor has to be more patient than in 87 or 2001 or 2008 kind of ride out these things but hedge out their bets effectively so some of the portfolio insurance as it is actually acts as insurance and helps the portfolio when things are bad. neil: thank you. for the time-being, letting people know, neil please tell us you will not show the footage of you commenting on the market crash 35 years ago when you had the god awful toupee. not on this show. 4:00 p.m. eastern time on fox news, set your dvrs, i am, i thought it was a very nice toupee, some of you critical should know i've been doing this for a long time. you should treat me with respect. go to bill cassidy, louisiana republican senator, sits on

energy and natural resources committee. he has a great sense of humor himself. senator, always good having you. senator, we talk about history, can we do what we're witnessing and absorbing 35 years ago today, see a fall-off to that effect? i do remember how ronald reagan was president at the time, he didn't shrug his shoulders but he did kind of shrug his shoulders sort of moved on, didn't fixated on whipsawing the markets. he had faith in capitalism, sure enough that faith would be borne out. events like that scare folks and are you concerned that could happen again? >> of course, you recall 1987 there was a v-shapedded recovery. yes there was a selloff but it came right back. that is more often the recovery. if you look at the stock market since 1929 and you put it in 20 year increments, taken into account the great financial crisis, black october,

et cetera, the average return over 20 years is about 8.5%. the highest being 10.5, the lowest being 5.5 but the point is over time the market is going to do well. i think reagan's, reagan's faith was well-placed. history showed that and i think going forward such faith should be again well-placed. neil: there are a lot of companies this is their earnings time, as you know, senator. a lot of them are worried. they have a very tough time offering guidance because they just don't know how this inflation thing will go. many consumer products companies including proctor & gamble and others talking about the resilience of the consumer but also cautioning about what the federal reserve does, how high interest rates to, how excessive it gets. are you? do you think that we're due for still more pain? >> yes. because we have a schizophrenic policy taking place with this administration. on the one hand the fed is clearly trying to tighten money

supply and on the other hand the administration has pursued a set of expansionistic policies, whether it is the american recovery act which should be the american recession plan, the inflation reduction act which raises inflation the first two years, forgiving student loans. on one hand the fed is pulling back and the administration keeps pushing forward. because the administration continues to flood out with government spending i think it is going to force the fed to raise rates more and ultimately the fed is going to win. neil: you know, senator, as you know the president is looking at tapping more oil from the strategic petroleum reat its height this thing had better than 700 million barrels in it. it is down to 400 million right now. it has been steadily going down. we have to replenish that, but the president is releasing more oil from that. do you think that's wise? >> yeah. the president is substituting the release of oil from the

strategic petroleum reserve for an actual energy policy. an energy policy that would have kept the united states and north america energy independent. our economy growing stronger and instead now we have to beggar thy neighbor, going to venezuela, saudis and others to ask them to produce more. spr release is a substitute for an actual energy policy. that is another indictment against this administration. absent that we now have higher utility bills and higher gasoline prices and an american consumer who is hurting. neil: real quickly, there is talk that the president wants retribution from the saudis here and, the talk is that he is going to cut off arms sales or limit them to the saudis as a result. what to you i this of that? >> i think he is finding someone to blame beside himself. this is pattern in this administration. when things go well, they take credit. when things go poorly they blame others. we should not be dependent upon

the saudis as the president made us dependent. we should be energy independent with all the jobs that entails. again this administration is looking for someone to blame. the buck stops with them. neil: we'll watch it closely. senator great seeing you again. bill cassidy on al of that. the dow down 67 1/2 points. we'll get details out of white house, next hour, hour 15 minutes on that oil release from the strategic petroleum reserve. ahead of that oil price is up but nominally so. we're also keeping track of the my terms there. less than what, three weeks away right now. we're already seeing early voting breaking first day records, particularly the state of georgia. what that could mean after this. ♪.

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neil: all right. 20 days to go, the debates are picking up steam ahead of the vote that could determine the make one of the united states senate. "realclearpolitics" among others saying there is a good chance republicans could succeed taking over that body as well. how these debates will go a long way toward determining that. phil keating in miami how the florida one went for the senate race there. phil. reporter: neil, for an hour last night the sparks flew in florida's one and only senate

debate between marco rubio and congresswoman val demmings. >> the senator who has never run anything at all but his mouth would know nothing about helping people. >> the congresswoman likes to talk about helping people. she never passed a bill. reporter: topics included inflation, oil production, china, russia, and the big one, abortion. >> number one, i'm 100% pro-life. that said every bill i ever sponsored on abortion, every bill i voted for has exceptions. >> no, senator, i don't think it is okay for a 10-year-old girl to be raped, have to carry the seed of her rapist. reporter: each has been flooding the airwaves with campaign ads. demmings more so than rubio. she has raised $50 million more than rubio. making democrats optimistic about flipping the seat. rubio touts his experience and getting the ppp passed at

beginning of the pandemic. he said that saved tens of thousands of jobs. he painteds demmings as supporter of extreme progressive politics turning boys into girls. demmings slams rubio for his low senate attendance record and former orlando police chief has distanced herself from the radical progressive in her party saying defunding the police is crazy. another hot topic was immigration and the border crisis. >> there is no country in the world that can tolerate or permit or afford 5000 people a day arriving at your border saying the magic words, getting asylum. >> more boots on the ground, more technology, more processors. let's secure our border. reporter: current polls showing incumbent marco rubio leading demmings by about five percentage points. as you would expect, neil, today both are claiming victory. back to you. neil: not surprising there. phil keating thank you, very,

very much. "washington examiner" tiana lowe with us. these debates what we've seen in georgia, in pennsylvania, are they moving the needle? in presidential races they deem to get the nation riveted at attention. in a state do they? >> they are clearly moving the somewhat, especially when there is a candidate quality question, right? we saw this with herschel walker who turned in a pretty clean, focused debate performance after having a pretty messy campaign. a lot of focus on the allegation he made ex-mistress of his get an abortion. he looked focus. he looked ready. something clearly democrats have to wait to see if john fetterman can pull off, right? there is a lot of drama over his stroke, whether or not he has aphasia whether or not there is brain damage going on there. about the debates, not just the candidates are sort of fighting for their lives here, even someone like brian kemp.

he had a commanding lead over stacey abrams who blew a debate even though the moderators made it clear with siding her. he expanded lead from five points, 10 points. doesn't matter what walker does. he has coattails he can ride. i think that is a crucial way, if you can expand those leads, based on how much ticket splitting in a state like georgia, not that much ticket splitting. neil: you're probably aware "realclearpolitics" thinks walker could pull out the senate race to beat warnock, that the republicans can succeed capturing the senate as well as the house. does your data, stuff you're aware of indicate that the momentum does favor republicans to do just that? >> absolutely. i like to look in terms of the polling, what i've been looking at is that, democrats really had their moment with abortion over the summer but even then when it peaked it wasn't enough. gallup had that in july right after the dobbs ruling came out,

only 8% of voters put down abortion number one issue when they go to the polls. that is down 4%. overwhelmingly this race is about the economy stupid, when inflation is 8.2%, the cumulative inflation rate for the biden administration is 13%. you look at the betting markets. the fact that dr. oz is not in the lead in any polls. the betting markets are turning to oz in favor of fetterman. georgia is on a knife's edge. not as though rafael warnock is cleaner than the driven snow. his own personal drama, wife allegations, child support issue. republicans took a gamble running a bunch of first-time candidates, people untested but there has been a lot of coordinated messaging and it kind of has been the chickens coming home to roost. what can we attribute a lot of late term surge for the republicans too? not just gas prices going back up modestly, not just inflation coming back into the forefront of everyone's minds.

a lot of independent voters finally choosing a side. for a while you had double hater voters. they're finally breaking. one last point hispanics are pretty much dead-even between stacey abrams and brian kemp. interesting enough they favor herschel walker over rafael warnock. new poll from the agc. neil: wild. tiana lowe on all of that. how this entire race could revolve around the number seven, a 7% mortgage rate. we are getting awfully close. how that sorts out at the polls, all of sudden you can't buy a house. ♪.

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neil: all right. we are getting closer and closer to a 7% 30 year fix the mortgage rate, at about 6.94% now. it could be a matter of days before we see that level broached and of course it would be a doubling in home rates that we've seen over the past year or so. actually more than that. gerri willis following the significance of all of this. gerri? reporter: good afternoon to you. look, neil, homebuyers can't catch a break, battling mortgage rates just below 7%. looking to buy the "american dream home," facing a new foe, banks are making it harder to qualify for a loan to get the money. according to the mortgage bankers association mortgage credit availability at its lowest level since march of 2013, falling for the seventh consecutive month in september, down 5.4% from august. listen. >> you know want somebody stretching too far, buying too

much, going into a environment where the economy is slowing, income may decline or worse, someone may lose their job. so those tighter credit underwriting guidelines we're seeing right now are really a prevent sieve measure. reporter: as a result mortgage demand is falling off down 3% as we see from a year ago. that is a 25-year low. now after a lengthy housing boom lenders are tightening the screws to protect our own bottom lines in case a recession pummels the job market, ruins credit scores, makes it impossible for many people to repay their loans. the situation is so dire that freddie mac launched a new program this week to help qualify more people by allowing lenders to consider consumer monthly cash flow, not just credit scores, low payment histories, that deciding who gets mortgage money. the fate of housing critically important to americans. tonight you will want to join fox business for "mansion global" and

"american dream home." hey, good news about the american housing market right here on fox business. neil: look forward to that. gerri, thank you very, very much. gerri willis on all of that. my next guest says you know if interest rates go higher to make it more expensive to buy a home, the only thing can happen in the decline of the price of those homes, lots of homes all across the country. jeremy siegel, wharton school professor of finance, always learn a lot having the good professor on. good to see you again. >> good to see you, neil. neil: let's talk a little bit about this here. the expectation is matter of days before we hop over 7%. for a lot of people that is a jarring adjustment. you said the impact is being felt in the price of homes, right? >> actually a few days last week we were above seven. neil: you're right about that. >> we actually were above seven, as you said more than a -- the home, home industry has been devastated by this aggressive

fed policy. one indicator i look at, it is very current indicator, national association of homebuilders, they come out with a monthly sentiment index that is comprised of traffic, interest, sales and all of the rest. what is so striking is that it is fallen faster in the last six mop than even during the housing collapse of the financial crisis. we went from one of the biggest booms, and i'm afraid to a big bust. now i think that, i don't think prices are going to go down all the way they went up. the national price index from march 2020 when this pandemic began until the summer was up 40%. wow, what an increase. that was also faster than the boom that preceded the financial crisis but that didn't continue.

those indices are turning down and i expect a 10 to 15% drop in home prices and in some areas even more than that. neil: when you say some areas more than that i would assume that the areas that were really hot would take the big punch? >> yeah. i mean, i mean, some coastal areas, you know, where a lot of the big money went. on the florida coast, in the hamptons and others they were actually up 60 to 80%. neil: right. >> you know given what has happened in the stock market, none of those people, don't get the mortgages. so that wasn't for their problem but it's the stock market and particularly in the miami area. it is bitcoin which is really a big area there, down 70% from its high. those areas are also taking hits right now. neil: you know, professor, as you know, this is the 35th anniversary of the october '87 stock market crash.

it roiled obviously not only markets, we lost a quarter of the dow's value in a single day, it didn't take long before housing felt the pinch. with aggressive lending, for example, the last meltdown in 2007 and 8, the fed stock market crash but the two tend to be joined at the hip one way or the other. are you worried if housing falls off stocks will continue falling off? >> no, i think housing is a little lag. i think we're very near the low on the stock market. we're not at the low of the housing market. the good thing about the housing market, big difference between this and 2007, when we were selling 100, 110% mortgages, giving them more money than the house was worth. neil: you're right. >> it was inflated. so the lending standards are much -- neil: devil-may-care stuff we saw in that. quite right, professor, we had people buying and selling properties sight unseen.

>> yeah. neil: we don't have a lot of that craziness. so that could kind of contain that -- >> we don't have, banks are better capitalized. the homeowner has more equity in it. yes, we don't, we had those bidding wars last year, very early this year, mostly last year. they have disappeared across the country. people are now saying i'm happy to get the listing price if i can even get that. neil: so when you look at the stock market now, what happened 35 years ago today, real estate notwithstanding do you think we're through the worst of it right now? >> yeah. i think, so, i mean, i remember that 35 years ago. i was teaching in a class right during that time when there was that historic collapse in prices. one of the things that were a couple things going on then. we had something called portfolio insurance which is now debunked. neil: i remember it well. >> futures market, most

importantly we had the ten-year bond soar to 7%. we're worried here about 4% but it went up in a straight line from 3, 4% to seven in about a few weeks and the dollar was collapsing instead of being strong. i don't see any worry that we're near an october 19th meltdown. neil: all right. hope you're right on that but you've been very prescient on everything else. professor. who am i to doubt. the jeremy siegel, wharton school of finance. he can single-handedly move markets. not many professors can do that. not many companies have the clout amazon does when you buy stuff from it. it has become a big player well in streaming football, including a plan for big black friday nfl game next year. what is up with that? after. ♪.

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♪. neil: all right. this is a big time to test big tech. right now of course the hope is that for those who have been battered and sign issues fall 30 to 50% from their highs the things are turning around. maybe as rates stablize here, they're not exactly doing that today, but that they could, greener pastures are ahead. that is maybe over simplifying it but it doesn't hurt when the underlying business model looks pretty strong. in the case of amazon, reaching out into every area, like streaming for example, the world is increasingly their oyster. does susan li know it. following this and a host of other big deals. reporter: definitely a disruptor, i love to hear your thoughts you interviewed

steve jobs, jeff bezos of course before the companies turned into multibillion-dollar behemoths. what do you make of amazon spending billion dollars for a one black friday nfl game in addition to the 8 billion for "thursday night football"? neil: rounding error like change in the couch. reporter: we're in the era of big media where scale matters, with technology companies that don't play by the same rules, because they have so much cash on the balance sheet. in apple's case $200 billion. amazon has $50 billion. as you said it could be a running error but that helps major league sports. if we bring up the graphic, i want to show you the astonishing inflation in sports broadcasting rights over the years. neil: wow. >> $2.4 billion. in 2023 it is worth $15.4 billion. by the way since going back to 1980, going back to 1980, 2023,

streamers, broadcasters paying up to $210 billion to all major leagues. that includes the nfl which gets bulk of that. 65% of that $210 billion. neil: right. reporter: but then mlb, nba could be resigning long-term contracts. the beneficiaries in the big media world where streaming is king as netflix proved it is major league sports. it depends whether tech companies with the deep pockets are willing to come in to bid up the pricing. neil: do you think, i always wonder, susan they recognize it as a loss leader? what you might not make back right away it drives, for example, in the case of professional football, you know, male buyers to buy other stuff? in other words that it leads them to everything you do? >> yeah. you are the perfect person to comment on this because we talked about amazon, right? when you were interviewing jeff bezos back in the late 1990s heading into the 2000s he

was the one that pioneered this spend, a loss leader. neil: absolutely. reporter: getting subscribers in. neil: building the infrastructure everyone laughed at. he knew, how can you have a price-to-earnings ratio when there is are no earnings. he went beyond that. reporter: netflix pioneered up to a point where you have to start proving in the era of high inflation where zero interest rates are a thing of the past 14 years ago, you have to prove that you're making money. what i found astonishing you were saying back then people thought amazon was a ponzi scheme. neil: they did call it that. reporter: they were not making any money. neil: i think jeff bezos proved that wrong. i think. reporter: one point, i want to bring this up if we can the jeff bezos tweet from last night, retweeting ceo of goldman sachs david solomon, his prediction more likely a recession will happen than not. neil: it will be a rough ride.

reporter: probables as he is a says. neil: exactly. i would put more stock in him saying more than anyone else. he sees it, right? reporter: how do you marry the airline results? bring up united for you -- neil: a lot of people -- reporter: along with delta. neil: consumer still strong. like you said the consumer is still strong and resilient. susan, as are you, thank you very much, susan li on all of that. the dow down 192 points right now. we're learning of course that republicans are increasingly confident that they will not only take the house, they will take the senate, now the big question becomes what do they do if they do that, like the next day? after this. ♪.

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likely that could be the biggest win democrats hope for in 2024 when it really matters. investigate them and to hold them accountable. reporter: mccarthy won't take impeachment off the table. >> i just gone through the last four years with democrats just playing impeachment politically but we're going to hold this administration accountable. we'll bring in the secretary. we're going to make sure he answers these questions but we don't take it off the table if someone rose to that occasion but we don't start to play politics. reporter: mccarthy plans to reinstate controversial members like paul gosar and marjorie taylor-green to committees. green says mccarthy should give her a lot of power expect trouble. greene intends to impeach the president. >> i think there is a certain number of republican voters who want revenge for the two impeachments of president trump. they will be satisfied with nothing else but i think it can't be something manufactured something out of whole cloth.

it has got to be credible. you have to be able to sell the impeachment idea to a very broad range of americans. so yeah -- reporter: republicans contend they will focus on the economy but shrill voices inside of the gop conference could prevail. fox has told mccarthy is right at the margin of votes required to become speaker. higher gop turnout could mean more gop members. that would give mccarthy a cushion. neil: chad, thank you for that. go to mark greene, tennessee republican congressman, house foreign services committee, foreign affairs committee, served the country nobly. congressman, leaving aside impeachment proceedings against the president, that might be a leap too far, kevin mccarthy talking about less support for ukraine, saying it is not a free blank check. do you agree with that? >> yeah, absolutely. there is no bottomless pit to republicans view of the budget like there is with the democrats.

we will not have a blank check for anyone. we're going to look at it. we'll evaluate it each time there is a need brought to us from the administration. i think you will see some, you know, sort of dialing back a little bit on that. neil: when you say dialing a little bit on that, does that mean that the kind of funding that they have gotten used to, that president zelenskyy and ukraine have gotten used to will stop under republican house and or senate? >> no i don't mean to suggest that, neil, and i'm sorry if i communicated that. neil: sure. >> we don't want a hedgemon in europe. everything that we're trying to do is to prevent you know, the recurrence of what happened in 1914 and 1939, right? so i mean this is what this is about. we'll draw the line. we'll not be neville chamberlain. we'll not be appeasers. we'll account for every penny. we want accountability for from the mid-administration where the dollars are spent, where the missiles are spent.

you will see more accountability really than anything. neil: congressman, republicans are talking, kevin mccarthy outlined an agenda includes extending making permanent the trump tax cuts. also pushing for more oil production here in this country to reverse a lot of biden era policies but on the tax cuts, i mean, do you look abroad to what they tried in england on the markets punished the new prime minister because she hadn't come up with a way to pay for them? can you say republicans if they do come up with a tax cut plan that will be paid for. >> i think he is just talking about extending the tax cuts already in place from trump which expire at some point and, i think that continuation of that, you know, the big concern here is the supply side of inflation and people aren't thinking about that. if we have a massive tax increase with those cuts coming out, right, you're talking about a huge cost of doing business. we're talking about a huge

decrease in the supply of goods which will just hammer inflation with all the money that is in the economy now. neil: all right. we'll watch closely. congressman mark green. good seeing you again. thank you, sir. the dow down 184 points. we'll have more after this. ♪. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. ... p. t. rowe price. invest with confidence. another busy 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.

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neil: all right, top of the 1:00 p.m. hour on theas