tv Varney Company FOX Business November 1, 2022 10:00am-11:00am EDT
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that? that is new york. didn't recognize it. the statue of liberty, didn't know where we were. lauren: that building in the center. stuart: you are a new yorker. lauren: different from where you stood. stuart: 10:00 eastern, see how that is going. the dow is up 90 one, the nasdaq is up 73. half hour ago, stronger than they are now. let's see if anything has happened with the 10 year treasury yield which has been going down and all the way down to 393. that's why the nasdaq rallied so much and not rallying as much as it was. when you open the market all of them went straight up. it is getting closer to 4%
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you've only got meta platforms, amazon, alpha bill, alphabet and microsoft. we haven't reported on bitcoin. we should. it is a very narrow range, looking at $20,000 a coin. it is been there for weeks on end, you could call that crypto stability and that is what we are looking at. just after 10:00 eastern time. i believe we've got an economic indicator, the manufacturing sector. do we have a number? lauren: it fell to 50. 2% this month. i would say whatever kind of reading. lauren: that means expansion, borderline 50, can't have expansion. lauren: the market is not happy. stuart: with manufacturing expanding it is less likely to
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ease up on interest rates because you only have a 25 point gain for the dow and 35 point gain for the nasdaq. all of that happened after the manufacturing index was released. do we have a jolt number? lauren: stronger, more jobs, in the month of september, but you still have 5 and 3 quarters of a million people, it is a tight labor market we are contending with. i'm trying to get the latest, if you look at that rate, with food and hospitality and fewer people with professional services. they are freeze hiring and cut jobs. lauren: two indicators related to the market with its gains, now this.
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democrats looked good over the summer, crime inflation really changed the picture. fox power rankings, political projection shows 236 house seats going to the republicans would give them a comfortable 19 seat majority. of the republican turnout is strong in battleground states the majority could zoom to over 30. in the senate fox projects 49 republicans, 47 democrats, four tossup's, arizona georgia and nevada which will ultimately decide control of the senate. democrats sending out the old guard to campaign, president obama speaks in las vegas, cortez master is in her race against adam blacksalt. hillary clinton heads to new
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york in a last-ditch bid to save governor hochul. she needs help. her challenger, governor youngercan from virginia, they have crowds for both of them. significantly fox looked at 18 competitive races and found 12 of them shifting to the republicans. the important point is the momentum, one week and republicans appear to be powering forward. it's not gone unnoticed by the markets. republican win could stop some harmful democrat policies and will not go unnoticed by the democrat party. president biden will be president for another 2 years but a second term is surely out of the question. second hour of varney just getting started. stuart: miranda devine joins us
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tuesday morning. are you seeing the same public and momentum fox projects? >> sure. repeated and lots of polls. we don't want to count chickens before they are hatched. complacency would be a problem if you decide to sit at home because republicans have it in the bag but this is why democrats are panicking about elon musk. censorship is the only thing left. you saw how kathy hochul is pretending there is no crime problem, just a perception, with bogeyman republicans, you see how president biden and barack obama, harris, everyone is a democrat mouthpiece is out there trying to whip up here about abortion which is falling flat and also trying to paint
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republicans as amaga semi fascist cult members. it doesn't work. people don't know republicans and independents swapping over to the republicans. it is what people see with their own eyes, not believing lies and gas lighting. they have seen the prices in the grocery store. they've seen prices at the fuel tank. they've seen the crime, feeling the crime. on the subway in new york, ridership is down by 57%. %. stuart: back to twitter. a former twitter executive was fired this week as musk clean house. isn't she the lady who kicked trump off of twitter in the first place? >> yes she is. she was the chief censorship czar at twitter and took pride
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in it. she saw herself as being an agent of the democratic party except she regarded it as saving democracy, free-speech and the first amendment, that is what her role was. twitter was very happy to do the bidding of the federal government of the biden administration in particular. the new york post was a victim of that but so were lots of other people. when it came to censoring things that were detrimental to the biden administration, whether it was hunter biden's laptop or the botched withdrawal from afghanistan or the wisdom of covid lockdowns, all the things that we now with time have seen were disasters but we saw twitter and facebook doing the administration's bidding and censoring americans and it has blown up in their face in time for the midterms. stuart: it is a wonderful thing to see that kind of thing change.
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thanks for being on the show all these years and covering all the stories you do so well. appreciate it. the latest of the view getting back lash for the way they dressed children during the halloween episode. what is the problem? lauren: i have a sense of humor. everybody does. i don't think this would work if it were flipped. one child was the raid on mar-a-lago. he's with it trump as a toilet bowl with top-secret documents being flushed and surrounded by fbi agents. i have a sense of humor but a lot of people don't. i don't think this would fly if making fun of a democrat. stuart: they will never give up their hatred of donald trump. >> did you see this? doctor oz as a platter, child
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was dressed as doctor oz and opens his white coat and you can see the prices of the veggies, $6 salsa. and will be --whoopie was a -- at handmade. lauren: should be covered the view? stuart: so weak and pathetic. lauren: they give us a lot to respond to. she was dressed as a handmade, she said my body my choice on the back of her costume. stuart: thank you, moving on, president biden, about the oil companies reminded me of the 1970s when jimmy carter, obscene profit tax. larry kudlow is with me. what a windfall profit tax do anything at all? >> of course not. remember what happened in the
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70s when we tried it. we had lower production and higher prices. if you tax something more you get less of it so you have high prices causing inflation throughout the economy. if you slap a tax on it you will produce less, supply shrinks and prices go up. it is exactly the reverse. windfall profits have been tried here in the states and in europe, they are an utter failure and this is an actsper, democrats are losing badly in the polls, it is a dumb idea. stuart: just can't get away from trump hatred and big oil hatred, goes hand in hand. i've been hearing this for 40 years, big oil, terrible, they can't let it go, they are living in yesterday and i don't know why.
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this is an industry that produces the cleanest oil and gas in the world, has contributed 11 million jobs, they contributed to lower carbon emissions, usa has the lowest carbon emissions of any of the developed countries. products of this petroleum rated projects permeate the entire country and i will read -- i will go through my list, phones, clothes, toothpaste, trash bags, laptops, fertilizers, diapers, plastic toys for kids, mris, iv bags, surgical intimates, stethoscopes, prosthetics, hearing aids, eyeglasses, contact lenses, tennis rackets, tires, toothbrushes, backpacks, golf, beach umbrellas, dog collars, golf balls, guitar strings and let's not forget insect repellent, very
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important, what would the world be without insect repellent, these are petroleum products and if you continue to tax oil the supply will go down and price will go up. it permeates american life in the bidens don't get this in their war against fossil fuels, done this country great damage and everybody knows it and it is a big election year and the cavalry is coming for checks and balances and change. we when you think there is a huge win for the republicans next tuesday sweeping the house in the senate, a shellacking for the president? >> a shellacking, i love that word and i think there will be a shellacking. house numbers will be better-than-expected and the senate nevers, there's close raises clothing. there was a big boost in arizona today as the libertarian candidate dropped out.
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that is a full percentage point or two. it it is important in these close races. adam lackssalt will do well. these are hard to predict. i'm the first guy, paul's don't vote, only voters vote but i like what i see in the issues are inflation, crime, particularly, the gop has a big lead but most of all i think voters want to put a check and balance on the 3 house biden majority in washington dc to stop all these woke left-wing fossil fuel type policies, they don't want big government socialism and that's an underlying subroutine in this election. stuart: fascinating news the libertarian candidate dropped out of the senate race, that is a big deal. we will watch you at 4:00 on the fox business network. thanks for all you do.
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it may be a new election cycle but democrats are turning to past political heavyweights to avoid midterm disaster. is this a winning strategy? president biden threatens the oil company's, cut the price of gas or we will confiscate your profits. i will speak to the president of a trucking company who has been forced to absorb high costs. i wonder what he makes of the president's blame game. ♪
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stuart: the dow is down 72, the nasdaq is down 9 points. remember when the i bonds were offered at 9. 62% interest, demand was so strong it crashed the site. now those same bonds are offered for 6.89% interest for the next 6 months. sounds like a win to me. home heating oil in short supply in the northeast, prices moving up. madison alworth, how much are prices going up? >> reporter: if a family bought a year's worth of home heating oil today, spending 2000 extra dollars compared to last year. we are at a discount oil supplier, look at their prices and you see how much they've gone up in the last year.
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to $5 a gallon, the entire east coast is struggling to access home heating oil when diesel supplies are low. we have of 25 day supply compared to a typical 40 day supply. suppliers tell me they are worried about meeting customer demand this winter. >> the top concern his elbowing product. years ago when we had a shortage on the east coast where the heating oil is used they would bring it in from europe, but europe is using it for their own use because of cass shutdowns from russia, we don't have enough to import from europe to here. >> reporter: even if you don't use home heating oil you should expect costs to go up as temperature drops. in massachusetts, in parts of
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new york, they've been approved for 64% increase in electricity costs for this winter so cost matters to the customer but business owners i have spoken to are big concerned, access, we heard about that earlier, worried about getting the inventory their customers need some in the past, people order for a full tank and have to say we can only do half. they haven't made a decision about that yet but it is on the table for this winter season. stuart: the same thing happened to me, can't fill the tank entirely. biden is yet again going after big oil over the price of gas but what are the tax penalties he is proposing? lauren: the idea of the windfall profits tax. he accused them of war profiteering which is a serious allegation and wants to tax at higher rates if they don't
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produce more oil or lower gas prices. >> president biden: oil companies record profits today are not because they are doing something new or innovative. profits are windfall of war, windfall from the brutal conflict that is ravaging ukraine, hurting tens of millions of people around the globe. >> president biden: exxon and chevron reported record production, they are producing more. let me tell you what the oil and gas association says, the white house doesn't understand energy policies, quote, you won't have more investment if there is no potential return, this is how capital markets work, that is lost on the white house, the latest threats from the president rig of politics before the midterms, congress isn't in session. if they were he probably couldn't push through a windfall profits tax anyway. the last one was 30 years ago. stuart: something like that. >> do we want our policies to
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match that of europe? stuart: it simply does not work, you raise taxes -- lauren: it is a scare tactic but they've got more vocal recently and i don't know if it is scaring them. stuart: pure politics before the elections. the president of summer trucking in dallas joined me now. you are not passing along the cost of higher deal and -- diesel and laying people off but you're paying $70,000 a week to diesel. that's not sustainable. how long can you absorb these high costs? >> last year we were paying $2.68 a gallon, and out is $5.50 a gallon. i learned early on you have to save for a rainy day. the rainy day is upon us. we are able to pass along the higher costs in surcharge to our customers but ultimately the consumer pays for it.
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stuart: how much longer can you absorb these costs? at some point you have to pass them on or go out of business. >> we are passing them on to our customers but i saved for these rainy days. who is getting hurt are the smaller guys, independent contractors who are really hurting and those are the guys we are trying to help when looking for jobs right now. stuart: how much do your drivers make? >> a good driver can make $50-$100,000 a year depending how long he's on the road. he could be on the road 2 or 3 weeks at a time. those guys make more money but higher fuel costs are hurting smaller guys, the independent contractors with want to 10 trucks. i'm able to negotiate a fuel discount with larger truckstop change. that helps me off that higher costs. you have to save for rainy days, trucking is a cyclical
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business and we are prepared, margins are thin. it's the smaller guys you got to help. stuart: do you know if smaller trucking companies going bust in your area? >> we do. they are looking to us for jobs and we are hiring independent contractors, doing everything to help these guys. if you haven't saved for a rainy day you will hurt. stuart: summit trucking ceo bart plaskoff, see us again soon. >> i want to wish my son a happy birthday. stuart: what is his name and how old is he? >> it is hudson and he is 17 today. he loves watching your show, happy birthday. stuart: you can be a coanchor of the show if you had told me that. happy birthday, young man. a second rail union rejected
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the labor deal brokered by the president. hillary vaughan spoke to the president of the labor union and why he turned the deal down. there could be a strike. rochelle wilensky gets covid again despite being vaccinated and boosted. what is the point of getting all these shots? i will ask doctor mark siegel next. ♪ ♪ as an independent financial advisor, i stand by these promises: 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.
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lauren: that was a perk of having the twitter subscription. this is one of the first of many changes under elon musk. the wall street journal reporting twitter. subscriber noller get -- no longer get free articles from hundreds of publishers. it is a new tier, a year-old, cost $5 a month. you can undo tweets, get content as in free articles. he wants to increase the cost to maybe 19, something less. he's taking away some perks. a lot of changes are likely to happen. stuart: like the price for example. lauren: very interesting. you might be waiting until november 8th and he can do whatever he wants and let whoever he wants back on. stuart: you never know. lauren: we have a ruling from the supreme court, they ruled
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on the tsa mask requirements. is the mask requirements staying in place? ashley: yes it is. california lawyer jonathan corbett argued during the pandemic the tsa did not have the authority to mandate masks on airlines and surface transportation on buses and trains but the us court of appeals for the dc circuit ruled the tsa has the authority to maintain security within the transportation system including a mask requirements. corbett went to the us supreme court to review their ruling but the high court's is denying the request and leaving the appeals court ruling in place, the tsa stopped enforcing the mask requirements in april of this year after the mandate was struck down by a federal judge in florida. hard to keep up with sometimes but there you have it.
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stuart: they have the mask requirements in place for future emergencies. ashley: yes, if it comes up again. stuart: director of the cdc just tested positive, she took a course of the antiviral p paxlovid. she tested negative, now she has tested positive. we are not so keen on getting boosters if people like wilensky keep getting covid. it destroys confidence in the system. >> i will point out the sales globally of this pfizer vaccine is down 66%, $4 billion and giving pfizer a lot of heartburn but the vaccine uptick in the united states, the boosters, 20 to 25 million people. i think if you haven't been boosted in 2,022, it adds an immune protection that helps with severity.
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rochelle wilensky did not end up in the hospital, she had a mild case, she took paxlovid and had rebound, this is par for the court if you are near 50s. $17 million in sales in 2022, $7.5 billion in the third quarter, keeping pfizer afloat. pfizer is up because of pa paxlovid. we are seeing that more than the vaccine. it is working. stuart: a survey found 17% of women experienced long covid compared to 11% of men. why do you think more women experience this long covid? >> i don't know. that is a statistic we have seen throughout. the statistic goes on, the census bureau, those who have the amount of long covid symptoms like brain fog,
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fatigue, that interferes with their job is twice as much in women as men. i don't know what the genetic answer would be but that is actually real. of the real story is long covid exists and it is a problem and something we have to figure out how to treat. there's a question of whether paxlovid helps with long covid. if there's a genetic difference between men and women it has to do with variations in the reproductive system. it may be genetic. it is a real finding and is worrisome. stuart: we had the news this morning, speculation that china has formed a committee to figure out how to get out of there 0 covid policy. chinese technology stocks are zooming and they are trying to end 0 covid.
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it is not going to be easy for them, is it? >> i think it is absurd they were ever in 0 covid. the whole idea is absurd. they ended up getting inspected -- infected. they went back to 0 covid. all they are doing is flexing political muscle that they could control people in china. we know they can do that. that's but opposite of what we believe here and no public health backing on it. this virus gets out. if you locked people down it spreads among people you lockdown. we've been saying that forever. 0 covid is absurd. stuart: they are trying to move against 0 covid after they saw hundreds of thousands of people march out of that plant because they didn't want to get stuck inside with covid. look like they are trying to do something. it is an uphill struggle. i've got the video on the
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screen. thanks, see you again soon. we will tell you how they work remotely, bad economic conditions may be forcing companies to pull back on their pandemic policies. starting today, some states will be requiring employers to show applicants how much money they could be making. role it. >> show me the money. show me the money. show me the money. stuart: show me the money. gerri willis reports on the new transparency laws next. ♪
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stuart: new york city joining other states, new york state joining others to provide salary information on job postings. they want to tell you how much you are going to make. how's that going to work? >> tell you and everybody else how much you are going to make. new york city employers will be required to disclose wage ranges for new hires. new york city is joining california, colorado, nevada, connecticut, washington, and maryland, and advocates of this, large-company's will adopt the disclosure practice countrywide. advocates say they believe such disclosure will close the gender pay gap. the info is required to be included in job postings online and we are seeing companies like macy's, jpmorgan and z
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zillow are posting salary ranges. this is a marketing position but the law is not without controversy, critics say it is tricky to follow in a tight labor market. >> we are in a tight labor market. an employee may be offering more for a job today where his existing employees in the same job were hired with lower wages. that means adjusting or explaining to employees which will not be easy. >> reporter: in some business salaries not the most important thing. on wall street, bonuses are critical part of compensation, likewise disclosure won't make info on benefits transparent. penalties for violating the new law, as much as $250,000, but
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authorities are signaling they will have ago slow approach on finding these companies at least at first. it is unclear how small businesses will be treated which could create problems. stuart: telling you what you are going to make closes the gender pay gap. >> women would be able to know what they are paid in advance when they interview, and never be paid the same. that the argument. stuart: thank you. ford changing how they are dealing with underperforming employees. how are they dealing with underperforming employees? ashley: telling managers those workers may choose between severance, see you later, or a performance enhancement program. according to an internal email reviewed by the wall street journal, the policy mostly focuses on employees who have
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twee 8 or more years of service or through the company demonstrated declining performance, these employees will have the option of taking severance rather than an rolling in the enhancement plan which could take 46 weeks. if you want to save your job the policy applies to all us salaried workers, went into effect october 1st. in recent months us automaker has been streamlining its white-collar workforce as an effort to cut costs by $3 billion a year by 2,026. if you are cruising, watch out. stuart: workplace flexibility took off, loads of people stayed home to work remotely mondays and fridays. is that coming to a end? ashley: the pendulum is swinging back in favor of employers, tracked and keep workers businesses had to offer
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a wide variety of incentives, remote, fixable working arrangements, discounts on meals and gym memberships but 2 years later the economy is faltering and we see companies freeze hiring, ordering workers back to the office. linkedin the survey showed concern that working life improvement enacted during the pandemic now have to be wound back, 68% mentioned flex ability, skills develop and at 74% and employee well-being at 75%, may be rolled back and it is clear remote roles are on the decline. in the us pre-pandemic 42% of jobs on linkedin were listed as remote, the number went up to 20% in april of 2,022, now it is coming back to 50% and dropping. stuart: the teachers union president randi weingarten
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tried to dodge blame for learning laws among students but she's the one who kept schools closed during the pandemic. we will deal with that in a moment. governor hochul claims rampant crime is a conspiracy spun by republicans. role it. >> these are master manipulators. they have this conspiracy across america to convince people that in democratic states you they are not as safe. the safer places are the democratic states. stuart: weight a minute. democrat states are safer? new yorker brian kilmeade will deal with that, harshly probably, next. ♪ does that make me crazy ♪ does that make me crazy ♪ does that make me crazy ♪ ♪ d business today
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xfinity rewards is a program whose sole purpose is to say "thank you" with experiences big, small and once-in-a-lifetime. sometimes it's about cheering hard enough to shake the stadium! sometimes, it's as simple as movie night right here at home, on us. you mean the world to us. so we're bringing you closer to what you love. kinda like this. welcome to 30 rock! join xfinity rewards for free on the xfinity app today. our thanks, your rewards. first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better...
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by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: the market turned south earlier after a strong manufacturing result and strong jolt report. that might mean it has to down go stocks, the man on the
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street is brian kilmeade, the governor of new york, kathy hochul says crime is a republican conspiracy. is lee zeldin going to beat kathy hochul on crime? >> identifying inflation and crime is a major issue and more people leaving new york and california percentagewise, most going from florida to texas. in terms of crime she says data deniers, have you seen the crime stats? has she seen some of them when it comes to what is happening in terms of grand theft auto up 140%, crime and felony assault up 40%, burglary 30%, grand larceny 40%. %. the thing that is down is shooting and murder way above 2019. she won't acknowledge it is an issue and the line she gave, i
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don't know why this crime thing is such a big deal, serving your crime. our prison system is out of control and understaffed. stuart: what a mess. randi weingarten of the teachers union accused of gas lighting parents. the bottom line is everyone suffered because of the pandemic. it was bad whether schools were remote or in person. she agreed the us should declare pandemic amnesty, forgive everyone for what they did and said during covid. she will take no responsibility, no accountability. my opinion is the teachers union wrecked public education. >> the teachers union, there are things they will never get back again, people talk about
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grades thing, and never put it on. they will never get that year back. what about relationships the never remain. to go to college after this. i don't care how bad you are, think to your best holes in high school, the people you will see at your reunion, that's gone forever. i had a senior who went to college after, zoom the whole time, whatever you say don't think we are learning anything, no one is learning anything and teachers tried but could not get kids engaged. you don't get amnesty for that. remember the mask mandate, they sat with masks on which function as muzzles for third-graders and fourth-graders. the friendships that never grew, the didn't flourish, there's no plan in place to get the extra help needed to catch
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them up. the vaccinations, teachers locked everybody out, 6 feet apart, based on nothing but the pandemic in 1917 or whenever the last pandemic was, we are still paying the price and lastly people who paid the greatest price, the impoverished neighborhoods and districts paid the greatest price, the people you say you are there for, you were there for the teachers, the union, not the kids. the teachers wanted to get back but were helpless because the union wouldn't allow it. stuart: education and performance of public schools during the pandemic should be major issues one week from today and i think they will be. did you see the fox power rankings that they have real momentum in the house, probably
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end up with a 19 seat majority, seems good to me. brian: it sounds average, what people can expect but the senate side if you look at the siena poll, outside nevada, republicans not winning anything, the momentum is different. if you look at the atlanta journal-constitution in georgia, you see herschel up 8 points, the new york times poll down four. my goodness. stuart: the siena poll taken october 24th-26, six days ago. the momentum republicans had since then will change those poles. brian: especially the debate in pennsylvania. how could you not change your mind, hello everyone, and good night. stuart: you are all right, see you again soon. pete hegseth, former us ambassador to nato, kurt volcker and david webb.
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