maria: oh, my god, i am so grateful. i had the courage to make the change to come to fox to understand truly what viewers want answers to such as the wide open southern border which i've had the pleasure to visit five times. it was a trip and a story which connected the dots for me, allowing me to understand how important policy is to business and to american families. thank you to fox news and to fox business for allowing me to connect with so many incredible viewers to beth understand what's most important to this great country. it's been a real home run like throwing the first pitch at yankee stadium. i said, what am i ding here? he said, maria, you've done the work, you've prepared, and now go do what you're supposed to do. what do you know, i got it right over the plate. excellence comes through preparations. nine years! thanks, everybody, for being here. here's stuart varney and "varney & company." stu, cheers to you. stuart: what took you so long to

get here, maria? i can't believe that. maria: i know! stuart: good morning and cheers. good morning, everyone. i guess we should call it microsoft day. just afterfour eastern this afternoon, microsoft tells the world how it's doing. xbox sales, the performance of azure, the cloud business, and then there is the call where executives offer guidance for the future. what microsoft has to say, very important for the whole market. it starts the big tech earnings rollout. in advance of the numbers, microsoft is down a tiny fraction. we had a strong rally for stocks monday, a small pullback this morning. it's getting bigger. the two dow stocks, johnson & johnson and verizonen, disappointing earnings. that's taken dow down about 140 points and the nasdaq about 80 at in this stage. here's the question, is the crypto winter beginning to thaw out? bitcoin holding right ap around $23,000 per coin. gas prices, they keep going up.

regular average is $3.44 a gallon now, and that is up 35 cents in a month. politics. the white house is in disarray, constantly questioned about the documents. chair of the house oversight committee suggests the administration is in a cover-up. shades of water gaipt. no answers for the white house press corps. the wealth tax rears its ugly head in california. the formerly golden statement wants to tax the value of rich people's assets like houses, businesses, stock holdings even after they've left the state. way to go, california. last year 340,000 people left the state. trouble for new york, new york city. some big banks are closing their atm lobbies at night. they blame crime and vagrants. no cash at night in this city. fox weather guy, adam klotz, was beaten on the subway. three of his attackers were arrested but soon released. four illegals stole $12,000

worth of merchandise from macy's. they were arrested and released. tuesday, january 24th, 2022 the, "varney & company" is about to begin. ♪ ♪ ♪ stuart: pit bull and shakira, have i got that right? lauren: yes. he's your favorite artist. him and florida, right? you always comment -- stuart: pit bull, such a strange name. but get it started is a good way to start the show, i would say. so i think we get it started with microsoft and the markets. david nicholas joining us first thing. david, i want to talk big tech. microsoft reports after the bell. i want to hear how microsoft is

going to incorporate artificial intelligence. and i think we might hear something about that in the call. what do you say? >> well, they're going to need to focus on that, stuart, because pc sales are falling off a cliff. if you look at microsoft's last quarter revenue growth, it grew at # 1%, the slowest in 5 years. what are analysts expecting for the quarter? 3% avenue knew -- revenue if growth. so you're right, they better talk about the a.i., they better talk about gaming because that's the future for microsoft. software pc sales for this year, i think it's going to put a lag on microsoft's growth. so if you're buying microsoft, it's not to make money year because i think the stock's not going anywhere, but over the next 3-5 years if they can be successful in a. a.i., which i am very excited to hear -- can. stuart: if microsoft disappoints this afternoon, could they take down other big tech stocks which report later in the week and next week? >> well, yeah. moth's actually fared a lot

better than names like amazon, facebook. so if microsoft does not report well, i would expect the same things for the other names. yes, it could bring if market down. but, stuart, use these as buying opportunities. we are not in for a big recession this year. i know i may be alone on year, but use weakness, add to names like microsoft for long-term growth, siewmpt. stuart: so you see the market doing quite well this year. what's the expression you used? u you see green lights, stocks have a green light for the future. is that your statement? >> yeah. stuart, i'll tell you why, here's a data fact that a lot of investors are missing. if you look at the payroll report for december, there are 1.2 million more jobs today than there were in february 2020 before thing pandemic. if you want an answer to where this economy's headed, we have a million more americans working. you're not going to get this big economic slowdown when you have that little slack in the labor market.

so any bit of good news, any whiff of good news, stuart, with where things are at, that's why you're going to see these rip higher for the market. there are sector recessions, and this is the biggest distinction the i can make. we're seeing recessions in technology, in office, in crypto. but there's a bull market in energy, in health care, in travel. stuart, you look at the travel stocks like carnival, like wynn hotels, you just need to own the names. don't follow fear, follow the money, and the money is flowing to those sectors that are still doing well and hiring. stuart: david nicholas, we hear you. thanks for being on the show this morning. to tesla. elon musk defending his betweens from 2018 which said -- betweens which -- tweets which said he could take tesla privacy. was his 420 offer a joke? how is musk justifying the claim that he did have the cash? lauren: a hand shake agreementment he meant with saudi arabia's sovereign wealth

fund about a week before he sent that tweet. nothing was signed, there was no price that was agreed upon, but they had an old-fashioned handshake deal, so he thought in his head that that funding was secured. and he also thought i own spacex, i have all those shares that could fund this also. so now he's been on the stand friday, yesterday and again today, and juror withs have to decide if he knew not that his statements were false, if he knew they were false at the time and if they were material to investors who lost money as a result. stuart: it's a very interesting situation for that a jury. a handshake deal with the saudis. basing his case on that. wasn't a reckless offer, it was based on a handshake deal with a very rich organization. lauren: and while we hear from him on social media daily, we get to hear from him on the stand three days in a row, and i kind of find exciting. stuart: it's entertaining. the white house facing more intense questions about president biden's handling of

the documents. listen to this. >> reporter: the house oversight committee chairman says this document situation has all the makings of a potential cover-up. is president biden involved in a cover-up? >> he takes this very seriously when it comes to, when it comes to classified information. his team has been, has been fully cooperative with legal matter. anything else, peter, and this is -- i'm going to be very serious. you asked me kind of a question that everybody laughed at. stuart: okay. getting intense right there. mike huckabee joins me this morning. governor, is president biden, in your opinion, involved in a cover-up? >> stu, let me be very clear, i take this very seriously. [laughter] very seriously. the question is about a cover-up? look, i don't think joe biden can find his own easter eggs when he hides hem. so did he know where all these documents were? he might have when he hid them when he was a senator, maybe as

vice president. but, yes, i do think there's a cover-up going on. and the fact that they covered it up when they knew just before the election that they had classified documents, they didn't tell anybody until if almost two months later. why? that's a cover-up. and then the cover continues where they keep finding documents. everywhere joe has landed, i'm expecting we're going to find if he stayed in a hotel room, or he left behind some classified documents. but very clearly, we take this very seriously, says the white house. yeah, right. none of us believe that. stuart: do you think that -- i'm saying, suggesting that the white house, the administration is in turmoil, in disarray because of in the document scandal that goes on and on and on. could it affect joe biden's agenda? >> i think it already has. it has affected his agenda. what is his agenda right now? he's playing defense, and this is a president that has had the press blowing wind behind his

back to push him forward. and for the first time since he has been president, they're now giving him some headwind, not tailwind. and i think it's about time that they asked the same questions they would ask of any other politician, democrat or republican. he's been given a free ride. i think that's over. and, quite frankly, there are numerous questions that demand answers about why did he have this information ever as a u.s. senator? why did he ever take the it from the senate scif? why did he leave stuff sitting by his corvette? what are we having, a big garage sale at joe's place so people can come by and pick up maybe an oldster owe and, oh, there's some -- old stereo and, oh, there's some classified documents too. it leaves some troubling pictures. stuart: and it's not going away, governor. there's no way this just sinkings into the background. it's not going to happen. governor, thanks for being with us today. i know we'll see you later,

thank you. attorney general merrick garland defending his handling of the investigation into president biden. all right, what did he say? lauren: he sure is. he is denying that the department of justice is treating joe biden with kid gloves compared to the way hay treated donald trump. >> the justice department has applied the facts in the law in each case and reached appropriate decisions in a nonpartisan and neutral way without regard to the subjects. that is what we've done in each of these cases, and that is what we'll continue to do. lauren: well, biden had advance notice, trump had a middle of the night raid. biden's documents, several locations, trump's were in one. so you decide for yourself. stuart: hard to follow though the, isn't it? lynn are. lauren: well, yeah, and it's probably going to get harder as more documents show up, if they do. stuart: check futures, please, we're down 160 for the dow, down about 80 for the nasdaq. coming up, vice president kamala harris taking heat after

admitting -- omitting a very important line from the declaration of independence. roll it. >> we are each endowed with the right to liberty and the pursuit of happiness. stuart: did you catch that? what about the right to life? we'll get into that. yuma, arizona, on the brink of collapse. 6,000 migrants descend on the city every week. who's paying for that? arizona congressman andy biggs is here. he'll take it on next. ♪ ♪ 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. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever.

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♪ stuart: yeah, biden's border crisis. listen to this. a group of migrants which were

bussed to new york city from texas have been arrested in new york city. what did they do and what's happened to them? lauren: a group of four men stole over $12,000 worth of swag from a macy's in long island, new york, roosevelt field, to be exact. it's a nice mall. local law enforcement searched for a vehicle that fled the scene, and then that vehicle committed several traffic violations. so they got the right car, they pulled over the 2006 bmw with bogus plates. all four of these gentlemen were arrest. , all four released without bail. the driver was charged with multiple traffic violations. stuart: but they're illegals. lauren: yes. they came from the southern border, living in new york city at one of the hotels, and they're committing crimes on long island. stuart: and they're the released. lauren: released without bail. [laughter] they were driving a car with bogus plates and stole $12,000

worth of merchandise. stuart: and they were released. yuma, arizona, overwhelmed. 6,000 migrants descend on the city every week. congressman andy biggs, republican from the state of arizona, joins me now. congressman, who pays for this? >> well, you and i are paying for some of it, but the community of yuma's paying for a lot of it. for instance, their hospital has about $23 million uncompensated care not from the federal government, not from the state, but the hospital's having to eat it. how? you have five women a day showing up in the maternity ward, 10-15 showing up in the e.r., and they're not being brought there and transported by the border patrol, these are just illegal aliens who just show up at the hospital every day in yuma. so this is the local community that's getting whacked on this. stuart: can you -- is there any way you can make the federal government pay? it is, after all, their policy that gets them in the country in the first place. >> we would have to do that through an appropriation process, and we should do that

through the appropriations process because it's not fair to these local communities that the biden policies have caused this problem that is actually putting the stress on social services in all the border cities. stuart: would you say this problem is getting worse? >> yes, sir, it is definitely getting worse. i mean, you have 6,000 a week at least coming through yuma, you've got more that are coming through not -- in gotaways, that we don't even know how many that is. help you've got places like the tucson sector where you have almost a thousand a day probably coming through that are gotaways. so this is getting worse. and it's simply because of the policies. you know, stu, they've got an app that the biden administration has put out for people that are going to put into this country illegally now. stuart: yeah, i saw it. i know it. okay, i've just got to move on for a second because we hear so much about the border, it seems so intractable, we never get the answers that we want. so let me move on.

i want to talk about the debt ceiling debate. i know you want to cut spending. will you say publicly that you, the republicans in the house, will not touch social security or medicare? because the democrats say that's what you're going to do, and they're trying to attract votes to them by saying you're hitting social security and medicare. are you going to do it? >> no. no, that's -- we're not going to do that. that is their line so that they can continue to spend wildly and crazy. there is enough waste elsewhere to get through this problem immediately. stuart: you think that cutting waste is what you're going to do? that's how you cut the spending? >> that's how we should be cutting the spending. and so, you know, the dod, for instance, a study said that they waste tens of billions of dollars every year. let's look at that. how about npr? how about woke programs like funding drag shows in ecuador? i mean, it seems to me that there's a whole lot of waste in a $6 trillion budget that you could get to to solve problem

off the top. stuart: could you tell me a dollar number, how much do you want to cut? >> well, stu, it would be unfair of me to say. again, i would like to cut trillions of dollars from the federal budget. [laughter] that's where i would be, but i'm willing to work and negotiate with my colleagues to actually make this work. and if it's not rhetoric, it's actual get down, roll up your sleeves and let's tackle the problem. stu, $82 billion deaf sent in december alone -- deficit in december alone. we can make a difference. stuart: got it. congressman andy biggs, republican, arizona. thanks for joining us, always appreciate it. >> thank you, stu. stuart: senate majority leader, chuck schumer, he's attacking republicans for their approach to handling the debt ceiling debate. lauren: he calls the spending cuts that some republicans are demanding in return for increasing the debt ceiling, he calls them draconian. listen. >> house republicans have kicked off their new majority by saying yes to brinksmanship, yes to

hostage-taking and, yes, to risking default all because of da the cone january spending cuts pushed by the hard light. the approach is dangerous, destabilizing, and the only thing it accomplishes is making a bipartisan solution less likely. if republicans want to show that they can govern effectively, they're off to a pretty poor start. lauren: that's familiar. it's democrats painting republicans as extreme. that's the attack line. but this one feels like a game of chicken, because house speaker mccarthy made a deal with some republicans so he can get the speakership not to increase the debt ceiling without spending cuts. chuck schumer not in that bite, but is also saying or where are the cuts coming from? they want to paint republicans as extreme and say, well, you want to gut social security and cut medicare. even defense. show us your priorities in the budget. there's also talk, and it's ever going to happen, of this this 30% national sales tax. but the democrats -- not gonna

happen either. but the strategy is paint republicans as extreme when maybe they can just look and cut some of the woke spending, for instance. not the big programs. stuart: if we do default, and i think there's absolutely no chance that the united states of america will default, but if we did, there's a study out, i believe, of how many jobs it would cost. lauren: yeah. it's from mark zandi at moody's. 6 million jobs, 12 trillion in household wealth would be lost or 4% of gdp with unemployment doubling to 7%. sandy says the hit to the economy -- zandi says the hit to the economy would be cataclysmic. the specter of it does create this choppiness particularly in the market. stuart: yes. lauren: so it does have an effect. stuart: yes, it does. 2010-2011, there's a debt crisis. market was trembling. i just don't think we'll ever actually default.

not gonna happen. check futures, please, we're down about 150 points for the dow industrials and 78 for the nasdaq. the opening bell is next. ♪ hey now, you're an all-star. ♪ get your game on, go play. ♪ hey now, you're a rock star. ♪ get the show on and get paid. ♪ all that glitters is gold. ♪ only shooting stars break the mold ♪ teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne. sensodyne toothpaste goes inside the tooth and calms the nerve down.

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stuart: okay. futures pointing south, down 140 for the dow, 8ing 0 for the nasdaq. brian belski is with me, in new york, no less. in the studio. i want to talk microsoft. is this the most important earnings report of all? not just because i own some of the stock. susan, stop laughing. [laughter] is it the most important of all? does it send the trend for the whole market. >> well, good morning from the peanut gallery. [laughter] yes, for now. it's interesting, stu, the banks did a wonderful job setting the course. so what's the course. underpromise and overdeliver. so they're going to come in and say, you know what? we're gonna cut jobs, and then we're back to that again which, oh, by the way, was the trend between 2009 and 2020. once 2020 came, we had the

pandemic, and companies were coming out saying we can make the number, we can grow, we can do this. now we're reverting back to the old secular trend of underpromise, overdeliver. i think, what we think is that microsoft, apple are the consumer staple stocks of tech, and you have to own them with respect to core portfolios longer term. stuart: got it. now, you think -- i believe you think that we are in the early stages of the next bull market. make your case. >> well, bull markets are both cyclical and secular. we think we're in the midst of a big secular bull market. and within a success lahr bull market, you have have a down year, and you can have flat years. we put our stake in the sand in october. a lot of people don't agree with us. everybody thinks we're going to make a new low. i don't think that's going to happen just because everyone's saying that. plus earnings are not going to drop as much as everyone thinks, plus we're not going to see this big spike in unemployment which everyone's waiting for. you start to see this low

quality rally which you talk about all the time, and the new rally, the new leadership is beginning to take place and take the shape, so we think it's going to be more of a value market, but a lot of other people are saying, but i think what they're missing is small and mid cap stocks in the united states look great. we've been saying from for several months from a cash flow and earnings perspective. and remember are, small companies lead our economy, not the big, large ones. stuart: so next bull market is about to start? >> it's already in place. already started. stuart: you're onboard with it, we're going up from here. >> we are. stuart: if i were to buy an index, the qs, for example, would that be okay? >> sure, i think -- i mean, it depends on your risk tolerance and where you are elsewhere, but i think it's less about etfs, stu, and more about individual names. stuart: i've got an individual name, it's called microsoft. [laughter] i'm glad you like it. thanks very much, indeed, brian. good stuff. see you soon. now, the opening bell, you can hear it ringing, and we have started trading.

we're off and running this tuesday morning. i've got some winners at the top of the screen, not huge. verizon's up nearly $3, positive earnings report this morning, i believe. but overall, the market is down 165 points on the dow industrials. that is a half of 1%. s&p 500, broader-based indicator, right around the 4,000 level, down a half percentage point, right at 4,000. nasdaq composite down a half percentage point. i presume that big tech is not doing that well this morning. microsoft, apple, amazon, meta, alphabet, they are all down. all right. have a look at amazon, please. single it out. because they started this drug prescription service. they're just launching it. susan: yeah, that's right. stuart: that could be a big deal. susan: i think it is. $5 a month, free delivery, and you can choose from a list of 50 generic drugs. now, it's only for prime members, but there's 150 million of them around the world so, you know, there is access. we're talking about -- it's

going to be called hx -- rx pass, and it will include drugs for high blood pressure, anxiety, diabetes. a whole gamut of accessibility. i think it's pretty clear that health care is the next market opportunity for amazon. remember, they bought pill pack in 2018, they bought one medical this summer. they did close telehealth service amazon care, but i think very interesting that health care is the next frontier. and, oh, by the way, did you know that amazon is up 16% so far this year in the paris three weeks of 2023 -- first three weeks. that's quite a recovery after dropping about, what, 50% last year. stuart: it's only january 24th. susan: that's right. stuart: a couple of companies including 3m, they reported early morning. that didn't look good. susan: no. they're cutting 2500 manufacturing jobs as a result. sales and profits did drop because they're blaming it on the strong dollar. they also forecast another sales drop this year as well, so people are not buying enough

scotch tape, i guess -- stuart: i guess not. waymo, isn't that alphabet's self-driving operation? susan: yeah. we know that alpha bent cut around 12,000 in the past week, the journal reporting that the doj -- this is actually kind of important -- that they will sue google for a digital ad antitrust violations by the end of this week. but also i do want to point out that alphabet is up 16, almost 19% on the year so far. so there's a recovery play taking place with a lot of these big tech giants that have slid about to of 30-50% last year. stuart: tell me about my father's stock -- susan: your father's stock, wow. stuart: ge. susan: okay. they're being broken up into three separate companies, but they're still -- this is the the final quarter of last year, so it was still one entity. jet engine power sales helped lift sales from a year ago. also strong cash flow, $4 billion worth. and remember that this is still

a big conglomerate altogether, but they are splitting up. health care spun if out, they'll spin off aerospace and reare new bls as well. stuart: johnson & johnson. susan: earnings fell by a quarter, lower demand for vaccines, of course, strong dollar impact. but the company's gunning for a higher than expected sales this year. expectations are low, so they're actually going to come out ahead of that. stuart: you know, earlier this morning i know that verizon reported. susan: yeah. stuart: i thought at first it was disappointing, but now we find they added subscribers. susan: right. it did drop 2% in the premarket. i think people looked through the the numbers and said, okay, you're adding 217,000 new subscribers, that's pretty good in the quarter. now, they're spending a ton to get those sign-ups. you know, they're ramping up for 5g, so they spend spent around $23 billion last year, and that was higher than wall street forecasts. but if you're able to sign on more people, i think that might be wouldn't it.

stuart: earlier when we were talking to brian belski, you were having a grand old time, you were laughing when we were talking about microsoft. susan: you said it was the most important report card -- i disagree. stuart: you'd go with apple, wouldn't you? susan: because apple's a bigger component of the s&p 500. it's worth about 5%. for microsoft if -- and we kind of already know what they're going to do since they hate off around 10,000, they told the us how much that's going to cost them. also we're expecting the slowest revenue in six and a half years. it's pretty much been priced in. demand for windows will be down, crowd growth is cooling -- stuart: are you trying to talk microsoft down? susan: no. i think the bar has been sent so low, that if it's positive, the stock will actually spike, and that will be good for the varney portfolio. [laughter] stuart: okay. lou: lemm. mono. were they -- lululemon. were they down graded? susan: do you have any impressions? actually, lululemon is down

because bernstein down graded the stock. they said a reset's coming, so it's only worth 290. also yesterday we saw the stock spike because of an upgrade, but bernstein's calling it an $80 stock, maybe overvalued when it comes to data servers. stuart: i was impressed with the quality of the merchandise when i went into with lululemon. susan: there you go. it's good stuff and it should sell. stuart: it wasn't tacky. lockheed martin reported before the bell. i would have thought they'd get a boost from ukraine. susan: they did. and revert back to what is tacky spandex wear in your view at least. the ukraine war meant if higher sales for lockheed martin. the pentagon is shipping over $27 billion worth of weapons to the ukraine, and a lot of that has gone to lockheed. stuart: o.k.. susan: are we going to finish that -- what is tacky e? stuart: i can't define tacky,

just didn't like the way it looked. the quality of the clothing. it just -- susan: be specific. stuart: no, i can't. susan: are we talking about reebok? puma? if. stuart: not any specific brand. i just saw quality when i went to lululemon. susan: you tried on a few of these lycra leggings? stuart: the producers are screaming at me because we're dragging on about spandex. it might not rate. do you know what i mean? what's this? we've got the dow down 195 points. that's a half percentage point on the downside. do we have dow winners? yes, we do. there are some. verizon right up there, all those new subscribers. 7% gain, not bad. how about the s&p winners? lieu min technologies, i mys read that. at&t -- susan: that's a 13% rally in at&t? stuart: yes, it is. what did they do? what they do. crowdstrike, okay, that's cybersecurity. dollar tree, netflix is on that

list, back to 360. that's a nice run they've had. all right. coming up, the governor of florida, that would be ron desantis, defended his decision to ban ap's african-american studies course. roll tape. >> they're advocating things like abolishing prisons. now, that's a radical political position. you're free to take that in your own life. i don't think very many people would think that would actually work. stuart: yeah, okay. larry kudlow's going to join us shortly. i think the white house and the administration is in disarray. i want to know if that affects the biden agenda. ♪ ♪ ooh, it's such a lonelied road ♪ ♪

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stuart: minor selling on wall street this morning, down about 150 on the dow, down 37 on the nasdaq. not huge declines by any means. bearing in mind a big rally yesterday. mcdonald's had been halted, it has now resumed trading. it's down, it's a dow stock, and it's shaving about 10 points off the dow industrials. got that. fox has confirmed that white house chief of staff ron klain will step down in the weeks ahead. larry kudlow's with me. larry, it seems to me the white house is in disarray. do you think this hurts president biden's agenda? >> well, look, i think this whole story of classified documents is hurting mr. biden politically and, yes, it's going to hurt his agenda. i think the beneficiary of this is going to be kevin mccarthy. they're going to negotiate on a debt bill, and the republicanses as you know want spending cuts and spending caps -- stuart: yep.

>> biden says he refuses to negotiate. he can't hold that position. biden does not have that political power right now. people from his own party are jumping ship from it. and i think we might get a much better fiscal policy, save america, stop the spending. stuart: we're not going to default on our debt, are we, larry? >> no, you'll never default on the debt. and, you know, if this thing goes on in the summertime and revenues are pouring in, revenues are always pouring in, so the idea that we're going to default on the debt is an absolute nonstarter. but, you know, you asked about the white house here. look, they made a gigantic mistake. i don't know whether ron klain who's the prime minister, as he's called. it's very curious that he's leaving his position after even more batches of classified documents are uncovered. but look, they basically stonewalled, okay? they basically wouldn't leapt any information -- let any

information out, okay? that's the biggest problem you've got. it's a cover-up. mike turner, the head of the house republican intelligence committee, called it a cover-up. the justice department, the white house counsel, this special counsel, the personal lawyers, doj and the fbi, they tried to cover this thing up. "the new york times" wrote a very good article about that, whatever, 68 days of cover-up, and it backfired because it came out in a leak from cbs. now the whole media's on the case, and now there's a special counsel, and now mr. biden -- who said he has no are regrets and there's no "there" there -- has to eat his words. and frankly, stu, more batches of classified documents. there's a university of delaware operation that's some kind of biden policy center that's got big piles of documents. they're going to have to have a thorough scrub of the house on rehoboth beach. so this, you know, look, in the d.c. swamp the cover-up is

almost always the killer, and i think that's's what they're suffering from. they made huge mistakings. they should have gotten this out right away, and they did not. so, again, advantage, kevin mccarthy whenever he meets with biden. if biden says i'm not going to negotiate, i guarantee you not only will all republicans oppose that, but also lots of democrats in the senate and probably the house will say, no, no, no, you're going to have to negotiate, because the gop runs the power of the purse, and everybody knows we spend way too much and we borrow way too much. those are the causes of inflation and slow growth. something's got to be done about it. it's that simple. something has got to be done about it. stuart: and it's going to be a monumental fight in the summer. i can see it coming. by the way, larry, i've got to wring this up -- bring this up. one of our viewers noticed -- do you know what's coming? noticedded your wardrobe. they suggested we set up a gofundme account to buy you another shirt. the viewer says you only wear

pink shirts on in this show, and it's true. there you go. that's from all your appearance- lauren: larry! stuart: larry, why do you wear a pink shirt on my show and a why not shirt on your show? if -- why not shirt? >> well, stu, they're both high style. [laughter] and i love my style for both our shows. i just -- the earl blackwell/roger stone best dressed list just gave me a lifetime achievement award. i only save the best for stu varney in the morning, always the best. [laughter] stuart: you're a good man, larry. i don't care what they say, you're all right. [laughter] thanks very much. >> listen, gofundme, support the kudlow trust. i'm all for it. [laughter] i live in new york. i'm being killed by taxes. help me out. i'm an impoverished broadcaster. texas okay. [laughter] it's okay. stuart: okay, larry. we will be watching you at 4 p.m. eastern here on fox

business. thanks, larry. credit card use, it is going through the roof. it really is, actually. lauren: yeah. stuart: so, lauren, which group of people is taking out the most crept? lauren: again x, ages about 43-58. they owe about $7,000. mortgages, kids headed to college, aging parents, right? these are the numbers for the other generations. boomers, they have more than $6700 in department, nearly 6,000 for millennials. meanwhile, separate study, 46% of credit card holders now carry debt. that's up from 39% in 202 is. debtors are adding to their balances because of high prices, high rates and job loss. that's the new ones, because we're seeing more and more technology companies but others start to lay off workers. stuart: when you say carrying debt, the proportion of people carrying -- lauren: from one month into the other. stuart: so they play the minimum amount and just roll the debt

over. lauren: yes. but last week -- i'm sorry, discover said we're seeing a lot of delinquencies. they're rising, uncomfortable levels right now, and the banks are setting aside more money for bad loans so this is, perhaps, the next shoe to drop. and we look at the aprs on store credit cards, all-time highs, above 20%. try carrying that over with high rates. stuart: it'll get you. coming up, crime rampant in new york city. i blame liberal policies and, you know, you really cannot fix problems million you fix the policy. i'll take that on in my take coming up at the top of the hour. crime is also why new yorkers are fleeing to florida. ashley webster is there talking to former yorkers about their exodus. he's next. ♪ ♪ everybody knows, everybody knows where we're going. ♪ and we're going down ♪

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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. golo is real and when you take release and follow the plan, it works. 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... 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: mass exodus. did you see that? rampant crime and high taxes are just two of the especially reasons new yorkers are fleeing

to florida. ashley webster is there. all right, ash, apart from crime and tax thes, why else are people moving down there? >> reporter: yeah. you know, the one word i hear all the time, stu, is the word freedom. yes, lower taxes, less regulation, a better way of life. put together with that pro-business atmosphere, and you do get freedom. i want to give you just a sense of how many people are moving down here. this is from the florida department of motor vehicles. last year, in 2022 the, this is how many new yorkers exchanged their new york license, driver's license, for their florida license: 64,577. that is a huge number. it's the most ever on record. it's up 46% compared to 2017. and, by the way, the state that came in number two the, new jersey. 32,000, just over 32,000 people in new jersey came down to florida, swapped out their license. and talking the of new jersey, let me introduce you to colleen

and mark. thank you both for being here, guys. you guys happened to have, at one point or another, lived in new jersey, but now you're in florida. you're business owners, you have a business around the country, but why florida? >> florida, for us, is freedom for our business. we opted, actually, to have our business here because of the freedoms that florida affords us especially with everything going on in the last couple years. and i have to tell you, the work force moving down here is incredible. like, the talent pool for us just exploded. >> reporter: well, high crime is a problem in some of these big cities and on the west coast, to be honest with you. is that part of the attraction of florida? >> absolutely is. when we lived in oregon during the first part of covid, we were staying out of portland because everybody was warning us don't go into the city, it's dangerous. we've never experienced that in any city in florida ever. we walk to our office every day. we don't have to worry about it, we come back at night. >> reporter: and during covid,

you were open for business, right? >> absolutely. definitely. we had a short period where our employees worked from home, but we worked in the office. >> reporter: fantastic. talking of crime and safety, i want to bring in john vazquez here. you're president of the police benevolence association, sun coast president. you see a lot of cops from new york coming down. what do they tell you? >> what brings them down is the sense of pride to work for a state where the governor and the legislature really appreciate you. you know, there's programs in place to show that appreciation, and like everybody's been saying, it's that freedom of being able to do their job. >> reporter: happy they moved? >> absolutely. >> reporter: absolutely. folks, thank you very much. stu, listen. where are they coming from? yes, they're coming from new york and new jersey, but i want to show you this interesting stat from u-haul. where are all these rental going? what states are losing the most people? number one, california. illinois, michigan, new york, new jersey. coincidence, stu? they're all blue states. hmm, maybe not a coincidence. stuart: why am i not surprised?

ashley, thank you very much, indeed. [laughter] here's what's coming up, brian kilmeade, kennedy, ian pryor, the 10:00 hour of "varney" is next. ♪ i've been waiting for someone like you, like you, like you, like you ♪ but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. i've pricked my finger 3,000 times and my a1c was still over 9. .. yes. yay. my diabetes is no longer a mystery. you see a spike after eating, uh, raisins. but dark chocolate - no spike. that's a huge victory. my a1c's dropped over 2 points to 7.2.

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