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tv   Varney Company  FOX Business  February 1, 2023 10:00am-11:00am EST

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stuart: 10:00 eastern time comes to rage to the money. losses for the dow industrials are moderating, down 130. the nasdaq has turned positive, up two points but that is in the green, 10 year treasury yield below 3. 5%, 347 to be precise. big tech, mixed picture, they are all down. microsoft, alphabet, apple, meta, amazon, where is loyal today, well below $80 a barrel, bitcoin, 23,000. where is it now?
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is it at 23,000 one hundred. the latest read on job openings, the jobs report, we just got it in. lauren: 11.02 million jobs open at the last day of december. 750,000 more than in the prior month. the market is pretty tight, what is the fed going to do? stuart: 11 million jobs going begging at this moment more than the previous month. lauren: i don't have that information. stuart: 11 million is 11 million. the latest read on manufacturing. lauren: it is 47.4, worse than expected, contracted under 50, falling 5 months in a row. stuart: jolt or manufacturing take it down more.
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lauren: this is the conundrum of the fed. the fed's problem is slowing the economy, look at manufacturing but folks can still get jobs. stuart: interesting dichotomy. hold on a second. some important news right now, the fbi is conducting a search of the president's beach home in delaware, the president's personal attorney, bob bauer released this statement. the president's. or and cooperation, the doj is conducting a plan that surged in rehobeth, delaware, in the interest of operational security, hard to do this without advanced public notice and agree to cooperate. the search, timely doj process, will continue to support facilities, we have further information at the conclusion of the search, more information if and when it comes in during
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the show. the real cost of the migrant crisis has hit new york and nobody is happy. the president was in the city, didn't see any migrants or mentioned them. that's not going down well. it is his open border that created this problem in the first place, new yorkers are very aware of that and also what the city is doing with 43,000 migrants who arrived here, not happy about it. they trashed the hotels, some refusing to move to a new shelter, they are kept in the street. new yorkers are saying what about us? medical services and schools already stretched thin and must cope with the sudden surge of people. locals don't get free phone, why are taxpayers paying for problem they didn't create an biden refuses to fix.
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biden is a democrat president, new yorkers are turning against the migrants, against the open border and against president biden. in new york. second hour of varney just getting started. liz peek back with us wednesday morning, you say biden's open border policies will hurt him, hurt the democrats in 2024. >> this is what governor abbott, doocy, and desantis have done, every state is a border state. americans, most americans didn't know we had a border crisis, that 5 million people have come across the southern
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border in president biden's time in office. why are we aware of it? they are showing up in our streets, taking our for our schools, demanding free medical care. americans now are beginning to learn there's a cost to illegal immigration. until now it was someone else's problem. there are people at the border, who cares? now we know there is a cost. education, countrywide estimated to cost americans $7 billion this year. this is pretty factual. the number of people coming into the country and staying here which is 2 million people, this will hurt taxpayers and president biden's indifference to this topic has been unbelievable. finally they came out with new rules and regulations which are so convoluted, have to do with immigrants from four countries, they are not a big fix. we need a big fix, to close the border. this will be a big topic. stuart: i will change the subject. this is a touchy subject, president biden has a physical
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exam february 16th. republican congressman who was also a former doctor and says he wants biden to undergo a cognitive test. take that on. >> 64% of the country is worried or very worried about biden's mental fitness. whether this is a concern we should all share or not. this goes back to the 2,020 election. president biden said he is being tested all the time. donald trump took something called the montréal cognitive assessment test and got 30 out of 30, and bragged about it because he would but biden refused to do it. it is a 10 minute test. why hasn't he done it? in the physical he took last year, didn't do one in 22, refused to take a cognitive test.
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why hasn't he done that? if it takes 10 minutes, he could find 10 minutes in his schedule to reassure americans he is mentally up to the job because a lot of us think he is not. lauren: he knows he is not. stuart: the montréal test is the standard test to figure out how far along you are with dementia. >> mild dementia, once that process begins it is inexorable, into it will get worse. stuart: it is fascinating. >> this is transparency, folks. stuart: thank you. back to the markets, more red ink on the table, down 170 on the dow and the nasdaq. david, you are one of the most bearish guests on the show. are you still looking for new lows in the market in the future?
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>> good morning. in my opinion, it is clear a recession is becoming stronger and stronger as far as the most common indicators that are either never wrong or rarely wrong, seem to be flashing, and the yield curve which is worse than it ever was during the dot.com crisis or the 2,008 crisis. you mentioned it here that we are below 50, at the most common 40 that are regulated in this most of them are under that same threshold, that is a major concern for those who understand the indicators. quantitative tightening taking place. we 've not seen quantitative tightening happen in our economy before, but the fed needs $90 billion on a monthly
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basis so that's the opposite approach in 2008 recession. stuart: hold on, i have limited time, you don't change your mind if the fed announces a 25 basis point hike this afternoon. >> i think they will go 25 basis points but if they went 50 we have a major correction. and inflation go out of control. so many indicators are flashing negative right now so this is a critical time in history because when the fed pauses, that is when we typically have a drop in the next 15 months. stuart: all right, you are still the bear on the show and see you again soon. looking at the movers, old dominion freight line, a trucking company. >> profit is up 16%, not
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because they have more volume. stuart: pricing power, stock goes up. >> the us is preparing to send an additional $2 billion in military aid to ukraine. in this package, long-range arms to be included, this benefits boeing and other defense contractors as well. boeing is up 2%. %. stuart: match dating system. lauren: it is a check company and dating company cutting staff by 8%, they are downbeat on the current quarter. last year's lose their which was match became early january winners, matches up 30%, now you have investors selling on the first sign of weakness, beaten down names from last year that started to look good at the beginning of this year. stuart: du your member the glitch in trading on the new york stock exchange? it was last week. tuesday.
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wild swings in stock prices, some investors lost money. will they get it back? lauren: they are up some but not much. thousands of victims filed claims, charles schwab, citadel, the stock exchange had until friday to evaluate all of these and now they decided how much do we pay out? it does set aside $500,000 a month for disruptions to trading but bloomberg is reporting tens of millions of dollars which means citadel get their money but telling investors. 250 stocks at least impacted by the trading glitch. last tuesday. >> the poor gets the blame. kiyana: you trade at your own risk. one state pushing to subsidize its employers for trying out a four day week. where is this happening?
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lauren: maryland. when you say that, you think 40 hours a week, 10 hour days, that is what most people would think, this is 32 hours a week so as is not a 40 hour week, 32 hours, you work less, get full pay, you can work remotely so you're working from home 32 hours a week, this is a first in the nation, maryland's democratic lawmakers holding hearings on a bill to offer state tax credit, $750,000 a year for companies that don't participate. burnout. if you work less you feel less stressed. of course. maybe you are worried you are going to lose your job. stuart: the state will give you a tax break if you are employed when you let them do it. got to move on.
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listen to what i've got for you. looks like prince harry won't have the final say. king charles the third will respond to his son's bombshell memoir in a tell all interview. details on that. top medical schools in america will no longer take part in an annual college ranking because of equity concerns. us news and world report isn't bowing to the back lash they are facing, full story coming out. parents outrage after a middle school in missouri took students to ca drag show without informed parents. missouri's attorney general, and he will be joining us next.
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stuart: the dow is down 275 points, news at the top of the hour, there are 11 million job openings, the jobs report, that's enormous, 11 million unfilled jobs and manufacturing in decline. the market is heading further south. some of the top schools in the country are no longer taking part in the u.s. news & world report annual college rankings. why not? it is all about equity. kelly o'grady as the stories. >> biggest names, pulling out of the us news rankings, the trend began with harvard but since then 10 have followed suit. the list places too much emphasis on test scores and
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gpas incentivizing institutions to favor students with resources and privilege to achieve top marks. we spoke to icon at mount sinai and they shared reasons including the ability to assess a school's research with government funding. >> most students want to know if they will be attending medical school in an antiracism environment and an environment committed to equal care and support and also and role students that come from a diverse background. >> codex pushed back on the move and the approach to education in general raising test scores that are more important, training future -- they shared the data in rankings that is important for students to have though emphasized, quote, the ranking should be one component.
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a similar exodus from us news's law school rankings spur changes to methodology and the publication didn't respond to questions on whether they are considering caving to the new pressures. we will see how this goes. stuart: the governor of florida, ron desantis takes on critical race theory. what is he doing now? lauren: he wants to cut all di funding, for colleges, state colleges. e are going to automate all the ei and crt bureaucracy in the state of florida. that will wither on the vine, that is important because it is an ideological filter, political filter. people want to see true academics. political windowdressing seems to accompany all this.
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florida lawmakers, didn't he signed legislation? he did. he signed the stop woke act, you can't talk race issues intend kindergarten through 12th grade and can't uses in workplace training. this is in higher education. desantis called crt indoctrination. half the country agrees. 25 states have considered legislation that limits or eliminates how race can be taught in the classroom. stuart: that is president for candidate material if i ever heard it. lauren: how popular is it? lauren: only time will tell. lauren: a middle school being criticized after they took students to a drag show without parents consent. attorney general of the great
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state of missouri joins me now. why rid these students taken to drag show in the first place? >> it is a huge problem. we've seen this play out for years and that is problematic. statute in missouri governs how human sexuality is taught by educators. it doesn't authorize drag shows. there's the parental notification requirement. the school district undermined statutes by taking the kids to the drag show without notifying the parents but the school's responses tell them. the superintendent says school officials didn't know the drag show was part of the event and the drag show is not harmful for kids and can't be both. if it is not harmful why would they need to know about it. this is evidence of a woke left-wing ideology we will stand up and fight back and make sure our schools are about education, not indoctrination
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and parents have a say in that process. stuart: you will fight back. what does that mean. what will you do about this? >> this is an all hands on deck approach. we called for the resignation or termination of any school official who should have known about shameful behavior. that happens to restore the district's trust with parents but we will partner with everyone we can, school officials, law enforcement, prosecutors, juvenile officers, anyone we can to make sure we are adhering to the school law on this issue and empower parents, we have sent a resolution to missouri school board, and that makes few future school officials from taking students to a drag show. we want to empower parents. stuart: thank you for joining us. glad to hear you waging it.
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chat gpt, curbing as a cheating machine. what are they doing now? ashley: students who thought they had it made, think again. a new tool can help teachers detect if a student, artificial intelligence wrote their homework. the anti-cheating device is not foolproof, they block chat gpt in classrooms. other school districts are allowing educators use it as a teaching tool to train students to be better critical thinkers. the growing realization that this is the future and blocking it is not the solution.
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what a fuss it has created. stuart: back to you later. nikki haley set to make a major 2024 announcement, the plan to seek the highest office in the land. >> i have people attacking me from all angles not only to win reelection but the highest percentage of the vote. that verdict has been rendered by the people of the state of florida. stuart: are in see chair rana mcdaniel is on the show later. i will ask how to unite the party. ♪ ♪
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stuart: 11 million unfilled position in the job market, manufacturing in decline and rate decision time, the market is down 200 points as we speak.
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movers include amv and it is moving up. lauren: they are proving last week, amd is defined with the earnings report. intel showed us. the pc sales were down but they are making that up with their data center, their server business and wall street is impressed. stuart: i saw big gains to china stocks, up 12%. lauren: there is positive factory date out of china. black raqqa raised its state, 6. 6% passive steak and reports swirling that they are introducing a i powered chat bot to their platform. stuart: that will get you every time. andrea. lauren: smoking recession proof
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is the question, maybe, stocks up 5%, revenue fell, still beat that game. but it did come out and say inflation impacted our tobacco purchases peach people bought cheaper brand and announced $1 billion stock buyback which is why it is up 5%. i am not ready to say smoking is recession proof. stuart: stock buyback. president biden and speaker mccarthy will meet at the white house to discuss the debt ceiling. republicans look to crack down on government waste balancing the budget. chad program on capitol hill. what are republicans targeting? >> reporter: they want to underscore government waste and they believe they found it, billions of dollars of stolen pandemic funds. >> we want to know what is the
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extent of the waste, what is this administration done to clawback wasteful spending and is there a way we can clawback wasteful spending or hold people accountable for misuse of taxpayer funds. >> one witness adhering today contends the government dispersed $5.4 billion to fraudsters. gop senators ask the watch dog for an accounting of the fraud. republicans say they won't reduce medicare and social security in the debt ceiling fight, they focus on illuminating waste, but that may not balance of the budget. >> medicare is 40% of the budget. it will keep growing. some people idea of waste is part of vital recovery. we shouldn't think we could balance the budget by cutting waste. that's not a realistic proposal.
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>> reporter: democrats contend the math does not add up unless you address entitlements. >> we want to know what republicans value and how they will protect social security and medicare and our belief is they will have a tough time defending them if they could ever pass a budget in committee. >> the meeting between the president and kevin mccarthy is a test for both men, the president faces criticism if he caves and negotiate on the debt ceiling, the gop wants to see mccarthy prove his mettle after his narrow victory in the race for speaker. stuart: he can't not negotiate, you can't do that. if you do that and head towards default you get the blame. my opinion. governor desantis of florida
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responding to criticism from donald trump. good stuff. >> i roll out of bed, have people attacking me. you are an elected executive, you have to make all kinds of decisions, steer that ship. the good thing is that people are able to render a judgment on that whether they reelect you are not. we won with the highest percentage of the vote that any republican governor candidate has in the history of the state of florida. that verdict has been rendered by the people of the state of florida. stuart: newly reelected chair of the rnc, ronna mcdaniel, joins me now. good to see you. what we just saw is the beginning of a fight, trump/desantis. how do you unify the party? >> we will see some of this as the season unfolds and we get the field set for the presidential. the best way to unite the
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parties look at what president biden and the democrats are doing when you look at the open border, deficit spending and things that are coming out of the pandemic and deficits our kids are facing. the end of the day we will come together around our nominee and defeat president biden. there will be a little back and forth, we will get over it. stuart: you have just been reelected, your fourth form term, what is your priority starting right now? >> infrastructure. so many things, voter registration continuing to engage minority communities taken for granted by the democratic party, making sure we get election integrity up and running but ultimately we will have a debate coming up in july, our primary starting. we have to get together as a party at recognize we unify the nominee to defeat the democrats so stop party infighting. we can do for the democrats. we are focused as a party.
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stuart: i'm intrigued at nikki haley announcing she is running for the presidency. a formal announcement comes in a couple weeks. am i right that donald trump said to her, go for it. why would he say that? >> i think donald trump said that in a speech, get on in, i don't think donald trump is intimidated by many people. i think he is saying let the voters decide, everyone is welcome and we will see this through. at the end we all have to keep our i on the prize of making president biden a one term president. stuart: stuart: is nikki haley a vice presidential candidate? >> i won't get into hypotheticals. we've got to get through the process, let voters decide who the nominee is an the nominee can choose. stuart: i have to try. one last one. you know, i am sure, the president has to negotiate on
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the debt ceiling. he has got to. >> he has to. they are maxing out our credit cards, spending us into oblivion and every family has tightened their belts and saying how do i reduce spending to deal with inflation and the government should do the same, just as judicious with taxpayer dollars as we are. stuart: ronna mcdaniel, congratulations on your win. we will see you again. bernie sanders capitalizing on teaching anti-capitalism. we are not joking. we will tell you what he's charging for a ticket to promote his book tour. texas dps arrested and uranian national at the southern border. he's on the fbi terror watch list. *reporter bill. and has the report from the border next.
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stuart: markets are in the red, not by much, the nasdaq and s&p, the dow is down 223. texas dps arrested and uranian national on the fbi terror watch list. take us through what happened. >> i can confirm the arrest of this uranian national happened last week. it began with texas dps traffic stop, we have - cam video. texas troopers falling on this car near del rio, they get into it, 5 illegal immigrants being smuggled inside, all single adult men, some in the back of the trunk. notice a guy in a red hoodie, that's that uranian national, look at these images, he's 29-year-old, born in toronto, according to that fast-forward, border patrol and arrived with
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background checks, with law enforcement sources, his name and date of birth were flagged as a match to the fbi's terror watch list. and ran more checks, i'm told the fbi is handling this case taking the lead on it, they referred me to the fbi and the fbi tells me they declined to comment. this guy was arrested by texas law enforcement. the border patrol union is telling us, if not for the work of governor abbott and texas dps, he would be at large on our streets looking to do harm to the us and fellow citizens. he entered the country illegally and evaded apprehension by border patrol. biden continues to play politics with safety and security of children friends and neighbors.
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back here live, difficult to get information from the federal government on this, dhs referring me to multiple requests for comment and the fbi saying they declined to comment on this so it is unfair where this man is or who has him in custody. >> the you again later. folks in texas are grading vice president kamala harris on her performance as border czar. i doubt she's getting good grades from the folks in texas. ashley: you are right. many people the digital spoke to, resoundingly flunked the vice president but opinions were mixed. >> the grading system goes a through f. i give her a c. i don't want to be mean but i'm giving her an f. >> i would say a c. >> i think kamala harris is doing a great job. >> just to see how it is, she
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needs, even if they play videos or something for her, it would be a good experience for her. ashley: doing a great job. harris hasn't been to the border since june 2021, a trip to el paso. millions of migrants across the southern border. and they continue to do so. >> alejandra mayorkas dodging questions about migrant got aways at the border. give me the details. >> like a pro dodgeball player, the homeland security secretary was surprisingly challenged by migrant got aways on msnbc but the answer got away as well. >> some of the criticism includes the 600,000 plus got aways, do you know where they
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are and who they are? >> for the first time since 2011, the president of the united states presented a budget successfully and increase the number of border patrol agents. >> do you know where they are and who they are? >> got aways have been a challenge regardless of the administration. >> didn't answer the question though mayorkas says the administration is making tremendous strides, tremendous resources to enhance the border security. "cavuto coast to coast" it is ridiculous. stuart: it is almost laughable except it is tragic. i am sure you've seen the story. tom brady announced his retirement for the second time. he says this is for good and now we got a comment from his ex-wife, brett favre coming up on that. the white house unhappy with
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exxon calling the company's profit outrageous. wyoming senator john barrasso, ranking member of the energy can we will take on the president's latest blame game next. ♪
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stuart: lawmakers voted to end the public health emergency. senator john barrasso joins me, the white house will not drop the covid emergency until may 11th. should we drop it now? >> i am a doctor. the covid medical emergency is over and has been over for a long time. this emergency has nothing to do with covid. it has to do with government giveaways. up to president biden the emergency would never end because they use this as a cash cow to send money from the federal government unrelated to covid. what makes the point is this statement from the white house
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yesterday, that if we ended it today, it would cause chaos and confusion, not related to the disease but billions of dollars states and others are expected to get from this. all this money going out is one of the reasons we are hitting the debt ceiling earlier than expected since this was raise double over a year ago and we are hitting the debt ceiling because of the money spent. stuart: i expressed the opinion this is about control rather than illness, buying votes with taxpayer money rather than the illness and process itself. am i going too far? >> you are not going too far. there is an abusive element of what democrats have done with of this. they have abused to this by mandating a vaccine but ignoring get regarding 2 million illegal immigrants that have come into the country. they ignored and abused the
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government workers still, across the country in my home state of wyoming, back at work and have been for well over year. nancy pelosi abused it by allowing democrat numbers of congress to stay at home, get paid, vote from home, the house representatives, from republican leadership is doing the right thing. stuart: exxon mobil reported a record 55. $7 billion profit last year, the white house calls that profit outrageous, african americans forced to pay high prices at the pump. mister senator, my opinion, it is biden's energy policy which allowed exxon to make the huge profit. where am i going wrong? >> you are right again with -- the white house loves to play the blame game, energy prices, gas prices go up, biden wants to blame them, prices for other things, biden wants to take credit were no credit is due.
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they want affordable, reliable energy at president biden is trying to repeal the laws of supply and demand, he ran for office guaranteeing he would end oil and gas production, go after fossil fuels, no drilling, lots of roadblocks, we are producing less energy in the united states because of these road blocks and policies of this administration and as a result the biden energy policy is hurting the country and hurting our economy. stuart: i have no more opinions to express, but if you want to come up with something we've got 30 seconds left. >> i understand the fbi is going to want to president biden's homes. people smell a rat. he needs to come clean. i will tell you the senate intelligence committee has been stonewalled by this administration, the president has to tell the american people what is going on, explain himself, the best places during the state of the union address
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next wednesday night to a national audience. people all around the country see what is happening by the president and these documents strewn around the country as something that is grossly incompetent, mismanagement, could be a lot worse than that. stuart: another opinion. not a prayer, they don't mention it in the state of the union. >> he owes it to the american people. stuart: always great, see you again. we told you about the new climate investment rules for 401(k)s. it is getting bipartisan pushback in the senate. is that true? ashley: every republican senator and democrat joe manchin aimed at terminating president biden's new esg rule, resolution could be introduced as early as today. critics claim biden's esg push
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is jeopardizing retirement savings for millions of americans for a political agenda. republican senator mike braun telling them the last thing we should do is encourage fiduciaries to make decisions with lower rate of return for ideological reasons and that's the point being made. they filed a federal lawsuit against the biden administration over this esg rule. stuart: thanks. still had the retired navy seal jaco willing joins us. david burke will be here as well kennedy and royal watcher neil sean. 11:00 hour of "varney and company" is next. ♪ ♪
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greater freedom... you'll love that medicare supplement plans have no networks and no referrals needed... see any doctor. any specialist. anywhere in the u.s. as long as they accept medicare patients. these types of plans also give you more flexibility when traveling in the u.s. your plan goes with you... anywhere you go in the country. even better, these are the only plans of their kind endorsed by aarp. call unitedhealthcare today for your free decision guide. so if you have this and want less out-of-pocket costs... and more peace of mind... consider adding this. an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan.
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