tv Varney Company FOX Business January 9, 2023 10:00am-11:00am EST
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morning, everyone. 10:00 eastern. to the money, please would you look at the gain on the nasdaq composite, straight up, 1.6%. that is 177 points. not bad on the dow. that is 150 points higher that would be point .4%. this monday morning starting off very solid in the green. the 10-year treasury yield, let me look at that. it is 3.57%. where is the price of oil? with china opening up the feeling is that the oil will go up and it's up this morning. you're at 76 bucks a barrel and that is a 3% gain. bitcoin, i don't know why we bother. i know why we bother. it is no longer 16, thousand 700. bitcoin at 17, two. that is the markets. now this. hamlin university is a small private college in st. paul minnesota. an adjunct professor, eric
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colopez operator used to teach a art history class. not anymore. she has been fired. she showed the students a picture of prophet muhammed. she warned students. if they had any problems. no one came forward. she showed the picture. after the lecture, the student complained an an investigation followed the student who complained, as a muslim, black woman, she said she was disrespected. she raised no problems. she had to appear in video meeting the dean compared showing a image of mohammed compared to using racial epithet for people. dr. operator was fired. this is the reversal of a true and proper role for a university. it sastra mat kick stamping of free speech. liberal arts are being exposed
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to points of view not necessarily your own. i get the impression some students are eager to be offended. it is their way of ad saning their own opinions at the expense of those who disagree with them. no free speech. no worthwhile education. second hour of "varney" just getting started. ♪. byron york is the gentleman on the right-hand side of the screen and byron joins us now. byron, i would say this is not education. it is in-- to inflation and i want to know when it is going to end? >> nobody knows. this is just the latest in a long line of violations of freedom of expression on american campuses. there is no indication at all it will stop. by the way a lot of college professors are afraid for their jobs. not only afraid the tenure that
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protects their jobs might not hold but their numbers are decreasing. colleges have fewer and fewer professors with more and more administrators to enforce rules like this. so things are going in the wrong direction. this latest example is just more evidence of it. stuart: it is indeed. byron, talk about something we normally talking about that is politics. i want to change the subject. washington, d.c. is getting hammered by rising crime. carjackings up 14% in 2022 a significant gain and a teenager was shot and killed by a homeowner he was found tampering with vehicles. byron, you live in washington, d.c. give as you report. do you feel safe? >> a the low of people feel very worried. i don't feel particularly worried when i go out but a lot of people do because the crime numbers, one in 2022, you will hear people say a lot of violent crimes are actually down.
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they were down slightly from 2021 but they're way up from where they were just a few years earlier. and also this year, i mean we're only nine days into 2023. crime seems to have just exploded. we had a terrible weekend. there was that, there was that shooting you just mentioned which by the way was a homeowner with a registered firearm, a very unusual situation in the district of columbia for a private citizen to have a registered firearm. they're was a murder in a very, very popular nightlife area, navy yard. there were a bunch of carjackings. there were armed robberies. everything was up. you look at the police statistics violent crime is up in the first 10 days of this year from last year. the number of stolen cars, there were 73 stolen cars this time last year. there are 146 to date. exactly double. people are stealing cars like crazy in washington. yeah, people are quite worried. stuart: you can't see much of an
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end to indoctrine ages own campuses. can you see off much an end to outbreak surge of crime in d.c.? >> not really in the district of columbia because another part of the story is that the city council has actually reduced the sentences for some violent crimes and for possession of a firearm. washington, d.c., has always had very, very tough gun laws. some of which they're actually reducing now. so the, the situation in washington dedoes not appear to be on track to get better there. there are other cities that are putting more money into policing. they are moving away from the defund the police fad that took place a couple of years ago but in washington right now everything seems to be going in the wrong direction. stuart: okay. next time you're on we believe we will get back to politics. that is where we belong. byron york. >> the other stuff going on in washington. stuart: the other stuff. we'll get to it. byron, thank you very much, sir.
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>> thank you, stuart. stuart: public transit systems across the country are struggling to attract riders three years after the pandemic began. are they going to have to raise fares? lauren: sure that is under consideration. it has happened in some cities. creative options like congestion pricing like here in new york city. eventually if you're driving into the more popular parts of the city by car you will have to pay a tax. the problem is across the country there were 883,000 fewer people taking public transportation now versus pre-pandemic. then you have hybrid work and crime. we're likely never reverting back to the 2019 levels. that is why the cities are suggesting new revenue streams in addition to higher prices. i pulled the data about new york, turnstile jumping fare evasion, 550 million-dollar cost for last year. stuart: 550 million for one year? lauren: yes. some stations are having private security guards or law enforcement officially go to the
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underground subway stations to keep track of this. i thought that was a huge number as well. no rep perking -- no repercussions, why not. stuart: something booed to talk about here. we have the dow up 146 points. look at nasdaq up 180. jeff sica is with us this morning. jeff, i want you to look forward to thursday of this week. there is a very important number coming out. it is the consumer price index for the month of december. what's your outlook? >> well it's a very important number. keep in mind, stuart, the consumer has gotten annihilated. every time the consumer walks in a store, every time i walk in a store i feel like i'm being waterboarded because prices are so high. now you have a consumer that has the lowest savings rates, the highest debt. you had credit card, the credit card balances went up by 15%
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last month. so everybody's very focused on this, especially the market players because it is all a proxy for supposedly what the fed is going to do in terms of raising rates but when you have the consumer that is responsible for 70% of the economy, i think the number is probably going to come down a little but inflation is still insanely high. stuart: the year over year, that number, might come down. it was 7 point something or other last time around. you think it might come down from there but still above 6%? >> it was 7.1. it might come down to 6.5 or better. i do think it will come down but what we really need to ask ourselves as market players, does it really matter? because cpi, when cpi reverses since 1960, every time cpi has reversed it has been because we've gone into a recession. that is when is the the on the
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horizon. what we see from this. stuart: before we leave this, $10 for a loaf of bread, regular size, good quality bread, 9.99. lauren: i paid $6 for lettuce. stuart: you're right, jeff, you get a shock every time you go to the grocery store. consumers at this point, they're not, the economy right now is not showing the depth of the consumer right now. when i talked about the 15% increase in credit card bills people are paying for bread like you did, stuart, with their credit cards. running up balances on their credit cards. that's problematic, especially when you have the fed that is going to target the labor market and try to create more unemployment and deceleration in wages, it is going to be a problem. stuart: jeff, thanks for being with us this morning. i want to look at uber, some
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stocks moving this morning. uber, very nice gain, 4%. lauren: yeah. piper sandler upgrades them to overweight. calls them a top idea for 2023. they say the stock price is going up 25% from friday's close. that would be why? vehicle prices all-time highs. cash-strapped consumers will hail more rides to replace their old car. in the end that is cheaper. stuart: regeneron, they are sharply lower. down 8%. what is their problem? lauren: they expect sales for one of their blockbusters eye drugs $6 billion in change. analysts are expecting 3 billion-dollars more. they say much lower than you expect. they're getting a discount as a result. stuart: amazon up nicely. that is the nice gain. 3%. the story? lauren: jeffries says cost pressures will ease backs half, second half of the year for amazon. stuart: 3% gain knotted bad for
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amazon. last one, elon musk is asking a judge to move his shareholder trial out of california. where does he wants to move it to? lauren: austin, texas. that is where his other headquarters. a san francisco jury will be very biased against me, what is going on at twitter, all the job cuts. stuart: that is a good point. lauren: but this is an old lawsuit. the shareholder lawsuit back in 2018, when the take private one, shareholders accused him of manipulating tesla stock price when he said funding was secured. now there is finally a hearing on this, the relocation hearing is january 13th on friday. musk says if you can't move the trial, can you at least delay it until negative sentiment about elon musk dissipates? stuart: it might take a while. lauren: in san francisco? absolutely. stuart: forget about it, i would say. thousands of supporters of, who are loyal to brazil's former president, bolsonaro, they
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stormed the country's congressional building over the weekend. they are refusing to accept bolsonaro's defeat despite the new president's inauguration last week. we're on it. yeah, prince harry coming under scrutiny claiming that he killed 25 taliban soldiers while serving in afghanistan. british vets, that would be veterans, say the comments could incite violence from the terror group. kt mcfarland takes that one on for us. russia facing pressure to deliver successes as we deliver the one year mark of the ukraine war. ukraine denies moscow's claim that it killed 600 ukrainian soldiers. alex hogan has the latest developments from kyiv next. ♪.
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stuart: we still got a rally going the dow is up 189 points, nasdaq up 66. this follows the rally we saw on friday last week. more green this morning. thousands of supporters of the former president of bazille, bolsonaro stormed the government buildings over the weekend. they smashed furniture, set up barricades against security forces kt mcfarland joins me. this seems like an ominous sign for democracy in brazil. what do you say? >> i think it is an ominous sign for democracy period. in the good ol' days we had elections. winners won elections, went on to govern and losers went home to figure out how to win next time. whether in the united states, the states, the election is not really over. i won't concede. i don't think it was a fair election. it was stolen. the end result regardless of the merits of their case is a fundamental, taking democracy and having people's confidence
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in it be shaken. we no longer, is the election really an election, was it stolen? this is doing the job for our adversaries for us, right? because china, russia, they want to destroy our confidence in elections. stuart: do you think what happened in america on january the 6th two years ago, in some way set up what happened in brazil over the weekend or encouraged it? >> that is when people are claiming. america did i first. now brazil is doing it. i think it it is a little different. social media was the big stir up the trouble in brazil. the former president of brazil, he already left the country. he didn't concede he lost but he left the country. it is social media which is getting things really riled up. we know that social media is doing the same thing in the united states, riling up this extreme or that extreme and so it really, sort of feeds on itself. i would instead of pointing to
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the united states or to any one individual i'm wonder about social media. now i don't believe in censoring free speech but on the other hand it looks like this was really caused by social media. stuart: good stuff. former british military commander has criticized prince harry after harry claimed that he killed 25 enemy combatants during his time in afghanistan. the army officer said the comments could incite rye h violence from the taliban. kt, do you have anything to say about prince harry? >> this morning i was in touch with some former royal marines and here is what they have said. in afghanistan, for example there, is one former marine who is doing animal rescue. he is bringing dogs out of afghanistan. he had to be helicoptered out because he fears for his life. there are a lot of ngos doing very good things, doing very good humanitarian things in afghanistan now have a target on their back because it will cause, the taliban and other extremist groups, this is
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righteous revenge for what prince harry did. also sort of callous way that prince harry said, well i killed 25. i really didn't think of them as people. i thought of them taking chess pieces off of the board. the other thing that is sad and tragic irony of this, prince harry is very involved with a charity his mother was involved with. it is called halo, taking deactivating minefields in war zone. what he has done made that much more difficult in afghanistan in algeria, in libya, and other countries where these ngos are active. so shame on him. stuart: got it. that's enough of that one. kt mcfarland, thanks so much for being here. we'll see you again soon. residents in new england seeing some of the highest electricity rates in the entire country this winter. what is behind the surge? lauren: europe is stockpiling gas to make up what they lost in russia. so you have less supply. six states of new england are seeing the highest natural gas prices since 2008, the fracking
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boom. they are paying 86% more this month than the national average if you live in new england. massachusetts might see it the worst, because the bottom of the pipeline gets the gas there. stuart: some pipelines that were supposed to deliver gas to new england they were not built, they were closed down. that isn't helping. thank you, lauren. russian troops launched a miss still strike on a market. alex hogan you spoke to a top aide to president zelenskyy. what do you have to say? >> reporter: stuart, we sat down we talked about a whole range of issues, the first issue of russia amassing more troops and more equipment in belarus. i asked specifically about the current threat of this issue. >> translator: russia is now ready to go on the offensive in belarus. there are not the numbers of for
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effective attack in the new york. >> reporter: what can you tell us about the attacks that took place in russia recently, and who is behind them? >> translator: everything that happens in the russian federation, has nothing to do with the ukrainian side. we won't enter russian territory. we don't need to. we only liberate ours. >> reporter: what happens when countries say they can't afford to give any money or weapons to ukraine. >> translator: this is rhetorical question. we have passed the point of no return. this is a fundamental question for everyone. >> reporter: a new attack taking place in the eastern region of hakiv. they saved a small girl covered in blood from the rubble. two women have died. several others are wounded. over the weekend the day after russia declared a holiday sees fire ukraine rejected, russia said it killed 600 ukrainian troops. ukraine denies these numbers.
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there is no evidence at the scenes of these type of casualties. back to the sift-down interview i did, stuart, i asked him what the ukrainian government should have done last year better in the war in hindsight? he told me wish he had been more aggressive before the war even broke out about the influence, and the potential dangers of russia. that is before the war. hindsight is always 2020. stuart: alex hogan in the middle of it. thanks, hogan. more than seven thousand nurses in new york are on strike today. they say they're overworked and understaffed. lydia hu has the story in the next hour. president biden visited the border for the very first time. he spent three hours in el paso. texas governor says his visit is two years, $20 billion late. more on that with joe concha who is next. ♪.
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lauren is looking at the movers. i see zillow up 8%. why is, they're a real estate company. why are they up when the housing market is in a slump? lauren: because it will get better. they got a double upgrade all the way to buy in bank of america, an increase in price target by $20, to 42. this is very positive. things are bad now. bank of america says, double-digit growth is returning in 2024 because there will be improving affordability. so i guess after the recession there is an up swing. so you think the housing market is not down and out. it is just in a rough patch. stuart: that is pretty good. coinbase, crypto company. up and down all over the place. up 13%. lauren: initiated by jeffries from a hold. here is the issue. coinbase has a solid brand and a solid balance sheet. so this ftx fallout, it will weather that. they're bullish where they think the price of bitcoin is going, around the year 2025, 25,000.
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you're above 1thousand now for bitcoin. 25 is not that far away over the next couple years but they say it is going up another $8,000. stuart: amd is a chip company. lauren: yes. stuart: it is up%. >> interesting news. so wells fargo says this chip industry downturn we're in the middle of, it will get worse but it will bottom in june and then the back half of the year hooks great. so the theme to all the stories, things are bad, just get through the rough patch. it will take six months. then smooth sailing. stuart: light at the end of the tunnel. buy now, it will go up later that is the thinking. thank you very of, lauren. a panelist on cnn criticizes biden message on the border crisis. watch this. >> their messages throughout the administration has been really bad on it. they don't really have a cohesive policy, at least they haven't presented one. stuart: wow, that is interesting. that is someone on cnn
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criticizing the border policy. we've not seen that before. joe concha is with us. what do you think, too little, too late from the president? >> oh, yeah, several dimes short, several years late, stu. you know this was not a serious visit to the border given where the president wents right? he didn't go to the true epicenters eagle pass or del rio, texas, where bill melugin reporting hundreds of times since the human hewlett-packard crisis began. this is a humanitarian crisis, stu. instead the president went to el paso where they cleared migrants on the streets as if they were never there. this is check the box exercise by mr. biden. probably running for re-election. blaming republicans not serious about the crisis f this president, stu was truly serious about border security he would readvocate starting wall construction. in 2006 he was publicly for
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adding thousand of miles of border. he would end catch-and-release but until those things happen, stu, very little is going to change. you know the left flank of the party will never allow the president to do those three things to solve what is a crisis of the. stuart: you're right. there is no end in sight for this crisis. joe, just stay there for a second. i will get back to you in just a moment. i want to talk football for a second. the buffalo bills returned the a opening kickoff for a 96-yard touchdown. first game since damar hamlin's collapse. ashley, that was significant return. tell me more. call it why? >> some are calling a little spooky, stu. good morning. with damar hamlin cheering from his hospital bed the bills taking the opening kickoff, all the way to the end zone. you're watching it right now. how about that? why is it spooky? here is the eerie part. the touchdown was the first time in three years and three months
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that the bills have scored from a kick off return in the nfl, three years, three months. hamlin wears the number three for the bills. that number has been prominent in the past week as fans, other nfl teams are honoring his number? coincidence? not according to hamlin, who simply tweeted god behind all of this. no coincidence says hamlin. pretty interesting stuff. stuart: it was spectacular return kick, i have to say that. come back again, joe please, joe concha. you're a big football fan. how did it feel toe watch the bills play after damar hamlin's accident and the fantastic return? >> it was awesome. it was an amazing moment to witness live on television, stu. six days after damar hamlin was administered cpr on the field in cincinatti at this on the first play after the horrifying incident returning the it for a touchdown.
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jim nance, the hines was the kick returner there, he said it was story book and it was. you witness a teammate almost dying last week on the field, there were questions. how would the bills react, mentally respond, taking hits and hitting people given what they went through. the bills went on to win the game. damar hamlin was watching, live tweeting from his hospital bed. there are reports that damar could be out of the hospital in couple days most importantly with neurological functions unharmed. my bears are out of it. the worst team officially. we're all bills fans. hopefully they win first ever super bowl championship this year. it would be only fitting for this story book. stuart: i would love to see the ratings, tv ratings for that return kick and that particular game. they must be as promom call i would imagine any way -- astronomical. >> you will find out later
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today. that was the national cbs game. i'm sure many people were watching. stuart: thanks, joe. the georgia bulldogs will a take on the tcu horned frogs in tonight's college football championship game as calls to pay college athletes pick up steam. grady trimble will break it down in the next hour. in a new interview, princess harry said he did not believe his mother princess diana was dead. roll tape. >> i refused she was gone. she would never do this to us. maybe this is all part of a plan. stuart: royal watcher neil shaun will dig into the revelations and how it is being received by the brits. not well i believe. he is next. ♪.
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didn't believe his mother diana was dead. watch this. >> i didn't believe she was dead. >> for a long time. i just refused to accept that she was gone. part of you know, she would never do this to us, part of this is maybe all part of a plan. >> you really believed maybe she had just decide toddies appear for a time? >> for a time. she would call us, we would join her. >> how long did you believe that? >> years. many, many years. william and i talked about it as well. he had similar thoughts. stuart: apparently he didn't believe she was dead, until he, prince harry was, 23 years old. kneel shaun, royal watcher, joins me now. he said in the interview, the queen consort, queen camilla was dangerous. that is really strong stuff. >> good afternoon, stuart. ever lovely to see you. yeah, very strong stuff indeed. really i think what the sort of
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thing that comes out of this particular interview not of people touched upon here, senior royals are very concerned about prince harry's mental health. they know the true background what he has gone through and obviously the medication and things he was using way before meghan but seemingly has now escalated. what we're looking at i believe is a man who is literally fallen apart. over here on the british interview he said negative was happier, more content. his eyes and body language didn't say that, stuart. basically looked incredibly on the crest of being broken in fact. stuart: what happens on may the 6th? i believe that is the date for the coronation of king charles. what happens? harry and meghan going over there, what happens, will they be invited, what happens? >> the bottom line, the king, king charles is a very compassionate person. i know people say that but he really is.
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as you can imagine he really wants to draw a line underthis, and welcome his son back. the bigger problem it is of course harry's wife, meghan markle, that is the thorn in the side whichever way you look at it, the recurring theme came back from all of those interviews, didn't get on with meghan, royal family were not welcoming to meghan. previous to that we had no problems with harry's other paramours. consequently, if he sits down, who wants harry to come back for the coronation, i'm sure lots of people, bringing meghan along, not necessarily. dripping more poison as some people are claiming over here today. the bottom line, harry was quite a happy person. had a few issues as we can see but prior to that you know, he seemed very contented. this is really what's baffling a lot of senior royals because they're hearing these stories for the very first time but as you also saw, if you watched both interviews the
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contradictions that harry is now claiming, in the oprah winfrey interview they openly accused the british monarchy being racist. suddenly unconscious bias. he picked up an award in america for that particular subject. so you can see this guy is all over the place and meghan is keeping very much into the background, making sure she is not seen as the baddie. that is the perspective over here, stuart, for sure. stuart: two tv interviews, "60 minutes," independent television, the book comes out tomorrow. how do the brits feel about this? >> i read the book, the bulk of this. if you're random house and you host the best business show on fox business you would be looking at a mighty loss, there is nothing to buy the book for. it is all there. he said it in interviews and stuff like that. the perception over here really is, there is a part where people say, how could he be such a traitor? 100 years ago he would be in the tower of london you know.
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now of course in the modern world people try to be objective. really the feeling over here it is increased the popularity of the british monarchy, particularly william and catherine, they're looking what have they done wrong? the sort of con census william was trying to protect the younger brother. he went down the path, which proven to be a very negative path. the negatives against the queen consort have been incredible because up until this point they enjoyed a fabulous relationship, exchanging letters, gives time, all of that sort of stuff. where does this come from? interesting to note also, stuart, they managed to shoehorn in lady susan hussy. stuart: yes. >> the other particular story about jeremy clarkson. the bigger picture, when you look at it is that the negatives about that now are seemingly now stoked with harry. how does he come back? will he come for the coronation? if he gets an invite i think he
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would. stuart: endless whining, what i see. neil sean thanks for being with us. see you soon. >> a pleasure. stuart: ashley, come on in to this please. do we know what the reaction from the royal family from all the recurring bombshells? ashley: interesting to hear what neil has to say. a close friend apparently of both brothers told "the sunday times," william will not retaliate, continue to take the punches because that is how the royal family knows that. that is harry knows that and is acting cruelty. hammering down on claims that he was absentee father in the wake of his mother's death. friend and sources say charles is perplexed, also heartbroken, but the royal family will avoid being vindictive. for now quote, let the hurricane blow through unquote. the duke of sussex blames he
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wants the bad blood between him and his family to end. he says no show of being able to reconcile. maybe airing this all in public. harry hasn't made the connection. multiple reports, you talked about, this the king has completely written prince harry out of the core know race script. he will be there merely as an audience member should he choose to the attend the ceremony on may the 6. it is sad around it's a mess. stuart: it is a cold shoulder too, understandably too. ashley, thanks a lot. ohio republican congressman jim jordan, republicans should be open to cut military spending. astonishing. watch this. >> if we would focus military spending on soldiers, focus on getting rid of all the woke policies on our military we would have the money to make sure the troops get the pay raise they deserve. stuart: florida congressman mike waltz is a combat decorated green beret. what does he think of cutting military spending? he is on the show.
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took kevin mccarthy 15 a votes and days to be elected speaker. the fight over spending is just beginning. hillary vaughn with the story on capitol hill next. ♪. when aspen dental told me that my dentures were ready, i was so excited. i love the confidence. i love that i can blast this beautiful smile and make the world smile with me. i would totally say aspen dental changed my life.
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and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. vso the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple.
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golo is real and when you take release and follow the plan, it works. stuart: kevin mccarthy won the long battle to be the speaker of the house but the fight over spending is only just beginning. hillary vaughn on capitol hill. take us through the spending battle, please, hillary. >> reporter: stuart, one of the big concessions kevin mccarthy had to make to get the speaker's gavel was to cap government spending at 2024 levels for the next, at 2022 levels for the next fiscal year, 2024. meaning across the board cuts of $130 billion to federal agencies. 10% reduction of current spending. >> we need to get the fiscal restraint and discipline, a balanced budget amendment. i love all the concessions, i think the rules package we're going to pass today is the best one in recent history. we have only 222 votes.
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we need 218 to pass anything. so we're really in control, just over half of 1/3 of the federal government. so we want to manage expectations. we want to pass great legislation out of the house. hope and pray chuck schumer will pick it up in the senate. >> reporter: the pentagon would not be immune to budget cuts. that is creating unlikely allies like congresswoman ilhan omar, matt gaetz who were caught chatting on the house floor during last week's vote. >> we discussed some of the things on the list that we can be excited about and so we'll see if the rules package comes to fruition and what that would mean for those of us in the minority obviously cuts to the pentagon budget is pretty exciting for folks like me. >> reporter: it is not just future spending republicans are eyeing. retroactive cuts may be on the table too. the house will vote today to revoke $80 billion in funding in
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the irs that passed as part of inflation reduction act. stuart? stuart: thanks so much indeed, hillary. we got that. this, congressman jim jordan says republicans should be open to defense spending cuts. watch this. >> we got a 32 trillion-dollar debt. everything has to be on the table. and frankly maybe if we would focus our military spending on soldier, helping troops who do so much work for our great country, maybe focus on getting rid of all the woke policies in our military we would have the money to make sure our troops get the pay raise they deserve. frankly we better look at money sent to ukraine as well, say how we can better spend money to protect america. stuart: michael waltz, congressman from florida, a decorated veteran. should military cuts be put on the table, and put on the table by a republican? >> i agree with jim jordan that we are going to carve out woke
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policies out of the military. we'll look at out of whack ratio of generals. i invite him to come to the armed services committee to work with us on that. but, stu, by the way i'm all for a balanced budget. we've got to get spending under control but we're not going to do it on the backs of our troops and our military when at the same time we're talking about china as the greatest threat. we'll have a select committee on china. they're tripling their nuclear arsenal. iran is racing towards a nuke. north korea is about to launch an icbm, russia is on the march. oh, by the way we still have a global terrorist state now in afghanistan thanks to joe biden. so this is, i mean we can work on reprioritizing defense spending but that is really nibbling around the margins. if we really want to talk about the debt and spending it is entitlements program, that is 70% of our entire budget. that 1.7 trillion, and defense within that is only 30%. so if we want to talk about big reforms, i look forward to hearing that from those folks
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who are pushing towards a balanced budget. stuart: hillary kahn just told us there will be a vote today on all this extra money for the irs. if, can every single republican in the household firm and knock this out of the ballpark? can they do that? >> oh, absolutely. i have no issue there. we are going to defund those 87,000 additional irs agents. you will hear democrats saying no, these are just replacement for people retiring. that is baloney. these federal agencies don't increase head count when you have one or one swaps. these are new agents going after the middle class and the 600-dollar transactions they also snuck in. stuart: would you agree with me it will be very difficult to cut $130 billion out of the spending budget? $130 billion, just cut it out when you have got such a very narrow majority in the house of
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representatives? that is a real heavy lift, isn't it? >> well, look, i think we can do it but it is going to have to be about a 30% cut to non-defense spending. we're not going backwards when it comes to our defense. i will dig that trench line right now, stu. so i think we can get there if it is on the backs of all of these grant programs, all this pork. then we're going to have to deal with chuck schumer in the senate. stuart: yep. it will make a big difference in 2024 if you can become the party of spending cuts and efficiency in government. i think that will go down very well in 2024. >> we're also the party of national security and our number one constitutional duty is to defend this great nation. stuart: you just got to get them all together. and exercise the majority. congressman, always a pleasure. thank you very much, sir. see you soon. >> thanks, stu. stuart: still ahead next hour, steve forbes, brandon judd, dr. marc siegel, stephen moore. and this, elon musk is driving the russians crazy.
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musk's earthling satellite network is reimagining modern warfare. it is transforming the battlefield. that is my take and it's next. ♪ what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.
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