>> it's a good question. i'm going with three, 1902. stuart: i'm going to go with 1888 on the grounds, there weren't cars around. it is not. 1895. how about that? here is the story. six vehicles raced from chicago to evanston, illinois. it took the winner 10 hours to get there. the average speed was just 7.3 miles per hour, 1895. my how times change, ash. how about that? >> yes indeed. takes about the same these days because of road work. stuart: that is so true. we'll close it out with the dow industrials on the upside this morning. there you go, we're up 397. i call that a solid rally. neil, see what i do for you. it's yours. neil: i appreciate that, stuart. let's take a look what is going on with the market. the dow up 400 points.

nasdaq, s&p 500. interest rates which were backing up, not backing up as much. but a 10-year treasury yield of 4.20% is still something seems incredible to get used to here. but we are getting used to it, aren't we? we're focused on the midterm elections two weeks away from tomorrow. the president is going to be busy but he is selecting his events very, very carefully, including a big one at the dnc later on today. jacqui heinrich at the white house with more on that. jacqui. reporter: neil, good afternoon to you. in just 15 days we'll know which way power is swinging in congress and most recent polling shows that republicans have the edge. so it is causing somewhat of a keep your chin up style messaging game. the president saying on friday that voters got to be patient a lot of the things that he has done legislatively will not take action for years in some cases but house speaker nancy pelosi, who is at risk of losing the speaker's gavel is taking a bit

of a different approach. she is manifesting results through optimism. >> i don't have any time to dwell on our not winning the house. so, that is so scary, i agree with you, are there is reason to be scared when you hear that the fact we fully intend to win. was i not clear? we are going to win this election. reporter: but other democrats are more inclined to address the elephant in the room, like bernie sanders, true to form. >> i am worried about the level of voter turnout among young people and working people who will be voting democratic. i think again what democrats have got to do is contrast their economic plan with the republicans. reporter: then you have got the thread the needle approach from the democratic campaign committee chairman. he is talking about crime, a weak spot for democrats according to the polls. he is addressing this challenge and then pivoting and reframing

it. >> we've got a record of progress and we're doing a lot better than people thought we would and we are in a very competitive election. we know it will be a challenge. reporter: so today, the president is jumping into this discussion to try to steer the ship so to speak. he is going to the dnc headquarters for a staff meeting. neil. neil: thank you very, very much for that, jacqui heinrich at the white house. keeping an eye on early voting in two dozen states, florida the very latest to commence with that right now. so between mail-in balloting and in-person early voting you have half the country participating and aggressively so. jonathan serrie has the latest right now from atlanta georgia. jonathan. reporter: neil, heavy early voting turnout here in georgia, more than 837,000 georgians already cast early ballots when you include absentee ballots with in-person early voting

taking place at sites like this one you see behind me. state elections officials say at the rate they're going, they expect to pass one million votes by tomorrow, a full two weeks before election day, a record number of voters for a midterm election. more than 79,000 people voted on saturday alone, which was 20% more than day six of early voting in the 2020 presidential election. and more than 18,000 voted on sunday, more than doubling first sunday voting during the 2018 midterms. republican governor brian kemp says the record high voter turnout disproves democratic challenger stacy abrams claims georgia's new voter i.d. law makes it harder for people to vote especially poor people and minorities. despite the turnout, abrams says it sets up new barriers to vote in the state. she puts it you have more swimmers in the water doesn't mean there is more sharks.

"politico" voting rites nonprofit abrams founded spent $25 million on legal fees over two year period, 2019, 2020, including $9.4 million that went to the law firm of her close friend and campaign alegro harding. the organization which abrams left in late 2021 before announcing her second bid for governorship, that hardy was hired for her expertise. they tell that to "politico" hired for her expertise, not her personal relationship with abrams. neil? neil: thank you my friend, very much, jonathan serrie on the latest there. this is the time they squeeze in debates, sometimes one and only debates. for example in florida tonight ron desantis and former governor crist will be facing off each other. that is gubernatorial race so far has ron desantis ahead by double digits. of course that could change but pennsylvania is a much more of a horse race for the senate race

there and that big debate is scheduled this week as well. let's go to bryan llenas in harrisburg, pennsylvania with how both sides are preparing. bryan? reporter: hey, neil. the big debate is tomorrow night here in pennsylvania, the one and only senate debate. we can expect john fetterman to lean really heavily into his real main political experience which is 13 years as mayor of braddock, pennsylvania. we visited braddock to take a look at sort of what he has done. we realize in his political ads he keeps saying he rebuilt braddock. he still lives there he has tatoos of the old steel town zip code, dates marking someone was violently killed in that town. his campaign points out under fetterman there were no murders for five years. local supporters say he brought affordable housing, investment and a community center. listen. >> i was here when braddock was real down. yes there was growth under his administration. i feel there was. >> he set up that program where,

you know, kids can study to get their geds. >> build up the morale. not where we want it to be but not where it used to be. reporter: but the statistics tell a different story. under the fetterman the population under braddock dropped 40% and poverty rate increased and number of violent crime incidents went up. there are more abandoned properties than viable businesses here in braddock. some local residents and businessmen say look, they are conservative gave fetterman a shot scoff after the notion he rebuilt braddock. >> jobs? what jobs did he brought? what did he build backs. if i had a choice i wouldn't come here. the renaissance of braddock coming back never did happen. >> when he ran for mayor, he was hopes, you know, bring it back, that i think he just used it as

a stepping stone. reporter: is braddock back? >> look. drive down the streets and look. it's not back. >> he hasn't been the solution but it is not his fault. reporter: look, as mayor fetterman was notoriously absent from city council meetings. as lieutenant governor of pennsylvania the ap reported just this month that he was often absent from state business here in harrisburg. expect all of that to be participate of the big debate tomorrow night. neil? neil: bryan, thank you very much for that, bryan llenas reporting from the keystone state of pennsylvania. in the meantime here all eyes on britain right now. it is on the verge of having its third prime minister in seven weeks. its fifth since 2016 and this time in the case of leash think sunak that will lift worth rates later on this year. that a bit of oxy moran is this

environment which so raise taxes but again, sunak assumes office not only one of the younger prime ministers in british history, a whole host of firsts as well. get the read with all of this gerry baker, "wsj at large" host on this fine network. gerry, we talk about turnover at 10 downing street this is ridiculous. if you wait long enough everyone will get a chance to be prime minister there, what do you make how the field was cleared for mr. sunak today? >> yeah i still have a british passport. i'm waiting for that call in case my services should be required there. it hasn't happened yet. i think the conservative party as i write in my column in "the wall street journal" tonight and tomorrow is a shambles. it is in a state of complete disarray. it has been led for the last seven weeks by someone palo alto

paably incent and incommit to hold the job. boris johnson was talented but flawed individual. it doesn't know where to go, what its principles are, doesn't know how timely meant brexit. rishi sunak elected. first person of color, first person of indian heritage to be prime minister, youngest prime minister since 1812. a man of considerable tall lance without question, everybody believes that. a kind of a middle of the road figure. liz truss came as you recall tried to cut taxes aggressively tried to regenerate the uk economy that way. markets didn't like it, because, neil, not because of those policies themselves but there was no plan for the deficit. this was radical, bold, i would say reckless policy you cut taxes without any plan to cut spending without any understanding how you will get the deficit down at a time we're very worried about deficits because we're very worried about

inflation t was a reckless, irresponsible and in the end a doomed measure. sunak is coming in. his principle job is to get the public finances in order. i would say to you, i agree with you some ways raising taxes is oxymoronic for a conservative it is also important to get fiscal discipline and the country right now, the uk, in ways the united states too lacks fiscal displain. that is one of the reason we're seeing a sharp increase in bond yields. he will come in, will have a program to cut public spending, possibly raise taxes, get public finances in order. try to restore some kind of an order to a government looks like it is falling apart. to a country really just lost in stupifaction as it perceives what is going on. neil: gerry, you understand the british system of government far better than i will, my friend, so my immediate reaction the tories in charge, they can hold off a general election until 2025, what distinguishes them

from labour? whether the program is paid for out nor if part of the way to pay for it to increase taxes goes against what allot of people say was the policies of maggie thatcher when she was at 10 downing street. help me with distinguishing the difference between your parties. >> so i say it is pretty reminiscent actually, neil, of a period you remember very well, 1990, 91 in the united states when the u.s. was facing serious concerns about its deficits. the dollar was under pressure, interest rates were rising. the deficit looked like it was rising out of control. neil: right. >> george h.w. bush had been elected in 1988, saying read my lips, no new taxes but sat down with democrats in congress to agree a deficit reduction package which included tax increases that was extremely an popular in the republican party which helped him lose the election in 1992 to bill clinton. we're going through that to some extent. the uk is going through. a party, sunak will probably

become prime minister tomorrow, america make a big speech bit tomorrow. cut taxes get the size of government down. believed in that supposedly all the political life. he will say the country is in a crisis, in an emergency, the main thing in the immediate future to restore order to the public finances. interest rates in the uk has shot up 200 basis points in the last couple months. in part because the markets are worried about the state of the deficit. owe will say i need to get the rates down, i need to get mortgage rates down, i need to get inflation under control. i need to demonstrate we're being fiscally prudent. for the next year or so it will be tough, yes i'm committed in the long run to lowering taxes. exactly what george h.w. bush tried in 1992. it cost him the election in 1992. i think chances, chances of tories going the same way in couple years time is probably pretty strong. neil: let me shift back, a generational shift too, not intended but if you think of

42-year-old rishi sunak, italian prime minister taken over, all of 45 years old, georgia maloney. there is coincidental move to a younger generation. not saying akin what this country went to after dwight eisenhower go to john f. kennedy, who was young enough at the time to be eisenhower's son, it is not universal. xi xinping signed up for another six-year term after serving two. so he is not exactly a young pup but my point is, what do you make of that and whether that is now in the mix? >> well, you're right. if you add up rishi sunak's age and georgia meloni's age, just ahead of joe biden's single age. neil: that's good point. >> in 86,7, joe biden will be 80 shortly. donald trump too. that is a good point too, neil.

there is a look for a new generation of leaders. especially in those countries. france reelected his president although he is still a very young man of course. there is a sense yeah, there is, this is an interesting question, actually, intergenerational battle because one of the key dividing lines in politics in europe as on this side of the atlantic is age as you know. older people tend to be more conservative. in britain older people voted heavily in favor of brexit. younger people voted heavily saying in the european union. in this country older people favored donald trump. in 2020, joe biden did well among older people. there is younger voters that they are being left out and need to be represented. you might see more of this, but what is interesting, neil, in italy in particular, in britain, less true in italy, younger european countries voters are turning toward the populist right-wing parties because they

believe mainstream parties failed them. that is true. italy had 20 years of stagnant growth and stagnant wealth. they want something different, a change. they believe youth, new ideas, than the geritocacy run these country as long time. maybe they want to give it a true. the countries are turning away from the left, socialist parties more towards the populist parties. neil: yeah, i hadn't thought of that. real quickly, the markets also turned on liz truss when her program wasn't deemed to be paid for and that is a first rebellion if you of markets against what is our type of conservatives and i'm just wondering whether there is a lesson there for republicans if they gain control of congress or at least one branch of it, the markets will hoed hold them accountable as liz truss as in england. what do you think? >> i think there is a good chance of that. one big difference between the

united states and united kingdom, united states is fortunate holding wellenned position of world's currency there is much stronger sense of stability about the united states even when it does fairly reckless things. one thing, neil, we're getting round to games of government shutdowns, refusing to increase the debt limit. we have seen that you recall in the last five, six, seven years, when that has come about, especially when the debt limit issue come about, whether there is uncertainty whether the republicans in the house particular to increase the debt limit you see markets react quite negatively. if we had another round of that, where next year or two republicans control congress, dispute over raising debt limit, republicans are holding out you might see -- also neil, we're living in a very different age. we're used to last 10 years, forgive me i said this on your show ad nauseum, i will repeat myself we're in a different age. last 10 years we lived in an age of easy money or free money when the federal reserve, central

banks around the world pumping out money, creating money. federal reserve balance sheet up to nine trillion dollars, zero interest rates. fiscal policy was lax under republican and democratic presidents we could get away with it because the world was essentially suffering from sluggish performance, very little of inflation. we're in different world now. we have inflation. we have significant supply disruptions dramatically constricted supply we're facing around the world for all kinds of reasons of the we can no longer sit back to luxury free money, spending money like it is going out of fashion. we're living in a different age. so i think the next congress, indeed the next president after that will discover the bond market will be a little less forgiving than it has been prepared to be in the last 10 years or so. neil: with conservative or liberal leaders. we'll watch it closely gerry baker his show. "wsj at large," he is the host. he is a makes sense. can't tell you how much he makes thinking through all the

nonsense you generally get then at you. not here on this show by the way. we don't throw you nonsense, now and then it could be deemed nonsense. we're up 379 1/2 point on the dow. s&p and nasdaq raising ahead. yields are still very, very high. neil: as the case lately in the markets they're okay so far with that. stay with us. ♪ ♪ ♪

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neil: all right, there's concern about a slowdown. jpmorgan's president, the latest to say you know we could have a recession coming. i think every bold-faced financial name said that here. if you wanted to swim against the tide, that is all overdone. whether that is the reaction of the markets right now, they're pouncing on the fact that earnings look good, jobs numbers look pretty good. we can deal with all of this. erin gibbs with us, main street asset management cio, rob luna, surevest ceo. both geniuses own this. rob, begin with you, end with you, your sense what all the financial bosses are saying yeah, recession seems to be in the offing, it is just a matter of exactly when and how severe.

do you agree with that? >> i think we're in a technical recession already when you look at gdp, what is going on there. the news from pinto from jpmorgan, remember he is from argentina. he has seen 300% inflation. neil: that is good point. >> he has recently bias. neil: jamie dimon says same thing. >> exactly. neil: they're reading from the same choir book. >> with unemployment the fed has a little bit of cover. we were talking the consumer pretty strong, earnings are pretty strong. they would rather error on the side going too far, too fast than see inflation creep in. neil: interesting. we were talking about the big friday surge, a lot of people think maybe the fed is pivoting, maybe they will be more accommodative, one more she quart point hike, certainly won't be in de. where do you stand on this. >> i disagree, when we're still looking at record inflation numbers, that will not come down

two months. neil: how do you know rates four times higher in the since the first of year won't eventually do, that that they could be overdoing it? >> they will probably have to overshoot in order to be able to get inflation down. i think it has been so pervasive and so high for so long, that ultimately, and considering how much money supply is out there, there is just so much cash the only way to really get a grip on inflation is ultimately to bring us into recession. i think the really the question isn't going, is recession going to happen but just how long and how bad and how quickly the fed can pivot when those signals come in. neil: you know, i don't know guys, you're experts, you are very good at what you do, i have a devil of a time getting a restaurant reservation, theaters are packed, planes are packed, bookings at hotels are sky-high, is there a disconnect here i don't appreciate or what? >> i think you're exactly right. i was at a restaurant last night. i probably heard the comment

three times, neil, this is a recession? people are out the door trying to get in there. you can't get broadway tickets. neil: were you at the same olive garden as i was? >> [laughter]. no, i don't think we're really feeling it. back to the point the fed has a little bit of comfort for that. to erin's point they will continue to press. we are afraid of what is going on, airline tickets are literally doubled. there are a lot of things people feel that are not priced into ppi other cpi we're feeling. neil: get a gauge of clients call you, i guess depends on perspective, in retirement, nearly in retirement, younger are frantic, what is the proverbial move? >> any there was a little bit of hope in august, we started to have the rallies with the good month. the fact we had yet another pullback, another contraction has really set the fear so deeply entrenched within -- neil: that is generational, isn't it? >> yes. so i think people are really

taking note and getting more conservative. neil: okay. if they're getting more conservative, how are they getting more conservative? are you noticing a lot of people who just, let's say on paper they have lost a lot of money already, some of their highest performers are down a lot. now they don't formally lose unless they cash out. so what are they doing? like when you advise people what do you tell them? >> to your point, we have a mix. we have younger clients. we have people near retirement. the younger people are getting a little bit more opportunistic here. neil: is that right? >> they're waiting for this to come in. they have never seen a bear market so buying at a discount this is exciting. people near retirement, if you moved away moved more into stocks it is a good time towards the 0/40 if you will, four 1/2, 5%, 6% on corporates. you're getting paid to reduce the risk in your portfolio whereas before you had to go into dividend names, other places to chase yield. neil: do you guys like the market where it is now or is it

still rich? depends who you talk to, others say it's a rich market, looking backward or forward? >> when we're looking at valuations, we're talking about richness, basically we're about 10% higher than where people have been coming in recently for the past two years. but, we're about 15% lower than where the market has been trading so we're sort of right in the middle. neil: wow. we have a ways to go down? >> even if you look at periods of slow growth talking about 2009 to 2011, the market was trading 20% cheaper than where it is today. neil: wow. >> there are valid arguments we're trading rich when you look at slow growth and higher interest rate environments. the question is, are companies really going to eke out those profits, seven, 8% next year if inflation comes down to 2%? can we get in that higher growth period, therefore the market yes could easily go up another 15%. neil: very quickly.

my producer, love having smart people on, help me with this, a lot of people say because they assume i'm old which is ridiculous but i do remember the carter stagflation years and i, i remember job losses in the hundreds of thousands each month, not hundreds of thousands we're still gaining each month. so i don't see that, nor, it is proving in the unemployment rate, the job gains rate. i just don't see that. it might happen. i just don't see it happening. what do you think? >> i agree. remember, there is so many opportunities for people at work today. look at the gig economy. you can grab an uber, do anything you need to do. there is no reason to sit at home to collect unemployment anymore. so many opportunities, they are on fire, millenial generation largest in history thinks a lot different about that i don't see that happening. neil: loyalty to no one which i admire you know? >> the age of the side hustle. everybody has to have -- main job, then your side hustle. so that is the new economy.

neil: yeah. my side hustle are delis. guys, thank you very, very much. we are taking a look at that also taking a look, we talk about the younger generation, you probably heard about some of these student test scores alike, math and reading they're tumbling. my son gets on the phone with me, see, it's a national epidemic. i said no you going to mars is a problem. that is a whole separate problem. after this.so ♪. r,mises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

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♪ our dell technologies advisors provide you with the tools and expertise you need to do incredible things. because we believe there's an innovator in all of us. >> our schools of education aren't really good at teaching reading. parents aren't aware of the deficiencies that exist. in fact you know, the report card that they get says that everything is great. the schools are great, everybody is making as and bs but in fact this nation's report card will show that the proficiency levels are, you know less than half of fourth graders will be reading at great level.

that's pa tragedy. neil: former florida governor jeb bush, presidential candidate, had a pretty good guess on what that report would be like, the nation's schools, how they are doing, how our kids are doing, not well, thank you the fact of the matter both reading, math scores down across the board depending on the grade, the school, the great, but pretty much across the board weakening during covid. keep in mind better than $100 billion committed to deal with this and make sure that that would not be the case during covid. jeff flock takes a look at all of this from philadelphia. hey, jeff. reporter: neil, hello to you, not pretty. if i brought this report card home back in the day i think i might have gotten a good whipping. as you point out across the board both reading and math scores, fourth graders andth graders, this is what called national assessment of educational progress, the nation's report card they call it, yeah, not one single state in the union recorded an

increase in progress in either math or in reading. if you look at math specifically, the proficiency level, we were kind of bad as the governor pointed out there, we were kind of bad to start with. in 2019 proficiency level was 34%. now down to 29% proficiency in math. you talked to governor bush before the report. fox news had him this morning. he didn't pull any punches either time. listen? >> we have to be able to invest in communities in this country historically we turned a blind eye to. if we don't do that once again those same individual who are supposed to be driving the economic engine won't have the skills. reporter: yeah, that was fellow who has been following this. you know makes us weak all around. what was the reason for this? obviously the pandemic. take a look at these numbers, though, neil. this report didn't specifically

tie the lack of in-person learning to the bad numbers but we know that high poverty areas experience much more in-person learning loss, 22 weeks of in-person learning compared to low poverty areas which was 13 average weeks of that loss of learning and as was stated, this makes us weaker all the way around. we don't have smart kids coming out of school. we, hurts our national defense. hurts the ability of people to find jobs. experts say we have to do something about this you have mentioned the money committed already. people think a lot more needs to be committed to help these kids catch up. i don't know how that is done but somebody better figure it out. neil: people are gaining from south korea, china, germany, on and on we go all right all right already. neil: already, my friend jeff

flock. don't say my next guest didn't warn you about this. the reason foundation senior fellow, the american federation for children senior fellow. cory, good to see you. i think better than 100 billion spent during covid, presumably earmarked that is always an awful word for schools and all of that but, a lot of it unspent, right? >> yeah. if you look at the latest data reported at "the wall street journal" from earlier this summer 93% of the funding from the american rescue plan dedicated to k-12 education has not been spent yet. that is over $100 billion. neil: how did that happen? >> they are sitting on the money. they have so much money, they don't know what to do with it. in places like los angeles, latest data i they planned increasing number teachers in the system by 8%. number of custodial workers in the system 25%. number of psychological, slash support social workers 80% while they lost 6% of their school age population los angeles public

schools. far too many places the public education system is jobs program for adults as opposed to education initiative for kids. that means less money to spend on improving academic outcomes for kids. one way to fix this is school choice. allow for more competition so districts have the incentive to spend the money in the classroom on kids academic out comes and then if the schools are not doing that, families can vote with their feet. if you look at the data that came out from the nation's report card, catholic schools didn't lose any ground academically, math, fourth grade scores but nationwide the students lost about five points. catholic schools fared better. more likely to be in person. department of defense schools did better, more likely to be in person. about time we fund the student as opposed to the system so schools have stronger incentive to cater to the needs of family as opposed to other way around. neil: there seems to be limits

how potentially to reappropriate the funds never spent in the first place. a lot of times, teachers, administrations are deciding that. they don't like some of your ideas. >> yeah of course they don't like the ideas but school choice benefit teachers too. this isn't parents versus employees. if you look at the data, this has been the case for decades now. since 1970 through the 2019, the national center for education statistics reported per pupil student expenditures after ad adjusting for inflation increased 154%. at same time teachers increased 8% real terms. where is the money going? not going towards the classroom, going towards administrative bloat and staffing surges which are great for teachers union bosses like randy winegarten who makes over $500,000 a year. it is not so good for the teachers in the classroom. not good for the teachers in the classroom either. it is not going towards

improving learning outcomes. neil: you mentioned a lot of catholic schools, charter schools didn't shut down through the pandemic. they still had in-person classes and the rest. is that the next lesson god forbid for the covid event? >> if we didn't have the school choice we wouldn't see the problems. another study michael hartley, boston college professor, his coauthor, leslie finger published in a peer-reviewed journal, places, public schools with more catholic private schools in the area, the public schools are more likely open as well, all else equal. neil: interesting. >> if families had exit options, they would still pay out-of-pocket lower exit options of catholic schools. the public schools responded to the competition as we see in every other industry and every level of education. neil: that is a very dad point here. let the market decide this, not some nameless bureaucrat. cory deangelis, thank you. good seeing you again. in the meantime first sign

evs are getting too expensive, electric vehicles. in china of all places they're cutting the price. it could be a trend that goes way beyond just tesla. after this. ♪. about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you.

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call the number on your screen right now to see if your doctor is in our network; to find out if you could save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare. ♪. neil: well it might be very cool vehicles but they are still very expensive. that is everywhere but china where the price of some evs are coming down, not dramatically, but enough to get the world's attention. doesn't gerri willis know it, with us right now. what is going on, gerri? reporter: as you say tesla ask cutting some prices out there in china and the shares falling about 3.7% after the company cut the price of some of its cars sold in china by as much as get this, 9.4%. the cuts partly the reverse some of the price increases the company was forced to carry out earlier this year in china and the u.s. on the backs of raw material price hikes.

competition in the category heating up as tesla becomes china's number three best-selling ev maker. industry experts expect the competition in the category to sharpen. tesla's price changes coming days after ceo elon musk said most material costs are falling, competition from rivals also growing. shares of beyond meat, well they are down marginally here after the company announce the newest plant-based product, get this beyond steak. neil: what? >> reporter: i know. in a effort to cover meat lovers, flex tarians, eat vegetables and chicken and some hickory farms. neil: suspicious. reporter: the fake steak boasts gmos, anti-biotics or hormones. could this be enough. the shares are dune 80% year-to-date. do you want a fake steak.

neil: i don't know. i have a t bone to pick with them. >> a little joke. neil: i have to chew the fat. reporter: i say nay. neil: you're healthy, doing all that stuff, eating proper. gerri, thank you very, very much. in the meantime here, the push president has to forgive student loans up to 40 million across the country. in fact there is an app for that. close to 30 million have taken advantage of it. but the whole thing might be blocked big time after this. ♪ [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice.

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neil: all right. they have got the website. they have got the plan. they say they got the money but they also have a number of legal challenges. one of which is so strong that it could torpedo the president's plan to forgive student loan debt. edward lawrence has more right now from the white house where things stand right now. hey, edward. reporter: as it stands right now there is a stay by the 8th circuit court court of appeals. the 8th circuit says the stay will be in for a period of time while they review a decision by the lower court. the white house using a loophole

to sign americans up. in a statement it does not prevent us from reviewing these applications, preparing them for transmission to loan servicers adding it prevents debt from being discharged until the court makes a decision. from the administration point of view there is just a delay. the 400 billion-dollar student loan forgiveness plan will eventually continue with the president urging, arguing, that taxes will pay for all of this. president biden: the point is we can afford this, we can afford this. one of the things we did in order to pay for a lot of these things we thought it was about time some of the super wealthy corporations began to pay the fair share. reporter: republicans are saying none of this is paid for. in fact the federal reserve researchers estimated debt forgiveness program could cost as much as 441 billion according to the new york federal reserve. now according to federal research minutes earlier this year governor spending pushes inflation. some economists say forgiving

student debt amounts to more government spending. >> the fact of the matter his policies made the economy worse. we brought in over $4 trillion into the federal government's covers last year. we spent literally 7. that is literally what causes inflation. reporter: the president more relentless than the vacuum truck behind me on the student loan forgiveness program. he is continuing with that, as well as programs for more spending. neil? neil: it is incredible, my friend, how you keep your composure through all of that, as soon as you're off the air they turn it off. it must gall you. >> this particular pitch you can feel it in your body the pitch for this one. neil: i'm feeling it here. nowhere near you. thank you very much edward lawrence. elaine parker, job creators network foundation president, what she makes of all of this. i want to know where this goes, elaine. the administration going full throttle with this.

legal challenges popping up with your group. i'm wondering where does it end, do you think? >> it will end hopefully tomorrow when we have our chance to argue for a preliminary injunction. we're certainly thankful that the 8th circuit issued that administrative stay on friday pause the president and the -- because the president and administration were poised to begin debt forgiveness. thankfully no money went out the door before we had the opportunity to argue our case and block this. the 8th circuit didn't weigh in on the merits, they put a pause to work on legal issues. we're acting for a preliminary injunction to block the illegal mandate to allow the courts to work through all of the merits of the case which we think we have a very strong case to win. neil: this is up to congress, not the president unilaterally, and i get that, but the argument the administration has if this is stopped, stymied, there will be a lot of angry college kids,

former college kids and their parents across the country. what do you say to that? >> well, look, neil, the bottom line this one-time injection ever money does not solve the underlying problem of, increasing tuition. every year on these students that surpasses inflation. all the while these colleges and universities are sitting on $700 billion in endowments. they're paying their presidents multimillion-dollar salaries. they're paying college football coaches multimillion-dollar salaries. they're building gold-plated taj mahals on campuses. all on the backs of these students. we agree that there is a problem. we agree there needs to be relief. we disagree with the administration on the solution. college endowments should be encottable for this crisis. not taxpayer dollars. neil: well-put. we'll watch it closely. thank you for taking the time. elaine parker. corner of wall and broad, dow

advancing 380 points, picking up on friday's big advances. with the view interest rates still pretty high. maybe the fed is hinting it is of pivoting. fed and number of its governors don't seem to be saying that. this seems to be the pervasive view. could the fed be doing a 180 after this? ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. ... ♪ there's no going back.

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