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it, and the school choice movement is moving like we haven't seen ever many in this country -- in this country. >> going after trump hasn't gone too well for ron desantis so far and, two, going after gavin newsom is easy. >> it's good to confirm the story that hillary was peddling in the steele dossier that was picked up by the tbi and used as an excuse to spy on the trump campaign was all true. >> i hope you see u.s. cycling decide to change the rules that currently allow male athletes to compete in the women's division because it's simply unfair, and it is not right that the women have to miss out on their opportunities because of one person's feelings. ♪ ♪ baby, there ain't no mountain high enough. ♪ ain't no valley low enough. ♪ ain't no river wide enough. ♪ to keep me there from getting

to you, babe ♪ stuart: marvin gaye. all right, people, it is 1 11:00 on the east coast of this united states of america. it is thursday, june the 2 22nd. i guess that's the second day of summer. doesn't look like it though. check the markets, please. they're all over the place today. the at the moment it's a mixed bag. we've got the cow down 70, the nasdaq -- dow down 70, the nasdaq up 31. no clear trend. big tech mostly lower but not entirely so. amazon, apple, microsoft up, alphabet, met a -- meta down. the 10-year treasury moving up again today, 3.78% is your 10-year treasury yield. now this. he really hated trump. congressman adam schiff was a key driver of the russia hoax. he led first impeachment prosecution. he was on the january the 6th investigating committee, he was on intelligence committee and claimed trump was a russian

agent. well, he was censured by the house on the grounds that he, quote, purposely deceived his committee, congress and the american people. after the vote he had to face speaker mccarthy to take his censure, and he was surrounded by democrats shouting shame. not against him, but against the censure vote. apparently, it's okay to try to wreck a presidency with lies if you hate trump enough. nancy pelosi was right next to her fellow californian. she's from the bay area. schiff represents santa barbara. eric swalwell, he's from california too, he's hand with the chinese spy lover. he was shouting disgrace. again, not at schiff, but at the censure. what is it about california? it seems to be the epicenter of trump hatred. schiff wants to be a senator. he wants senator feinstein's seat. if that doesn't open up, he'll run again for congress where he has already been for 20 years representing the super rich coastal a elites. i have no doubt that if he ran

for think office in california, he would win. that is extent of trump hatred. it's sill there -- still there distorting our politics and our media. third hour of "varney" starts now. ♪ ♪ ♪ stuart: steve hilton, please, make him appear -- there he is. thanks very much, indeed. all right. why is california the the epicenter of trump hatred? [laughter] >> well, i think you're right in terms of the politician, but people often forget 40% of californians voted for president trump, just about 40% vote republican year after year. so the gap isn't as big as some people like to think. i think there's a possibility, therefore, of turning things around many california. the -- in california. the reason for the trump hatred, i think, goes to the heart of what is really, when what the democratic party these days is all about which is about image

and virtue signaling and sending the right message. they don't care about reality. so, for example, they don't care about the fact that the trump administration actually put in place policies that help lift working people, the exact people that democrats claim to represent, this manies for the lower -- incomes for the lower 20% of the work force rose faster than for the rich for the first time in around 50 years. you had record low unemployment pointed out many times amongst thosing exact groups that the democrats claim to represent. they don't care about any of that. they are now the party of the rich. they are the party of the elites. so they can afford to the indulge themselves in virtue signaling and going on and about trump tweets and all the things he says. real life, however, is not on their side. but that doesn't matter to them, because that's not where their supporters are these days. stuart: you know, what a complete transition in american poll techs that i've seen. i've been in america for 50

years. when i first came here, the rich voted republican. the republican image was the country club rich. that's been completely reversed. rich people, they now vote democrat, and i can't explain it, steve. >> yes. well, it is the partly because of president trump. because he crafted a message and put together a policy agenda that was aimed directly at what really was the big problem when he first came on the political scene, when he came down the escalator in 2015. we've seen for decades working people left behind by the agenda that had been pushed, frankly, by both parties that favored the rich. and trump understood that it was the working people of america that needed attention and support and policies to help them, and he put that together. and people responded. so you see it's right across the board whether that's on controlling low-wage immigration, dealing with china and its threat to to manufacturing jobs, on and on. tax cuts that helped despite the rhetoric are of the democrats,

helped lift working people and their incomes. so it was the policies -- stuart: that's right. >> -- that really said to the working class, this is our guy, not those democrats. stuart: i'm sure you saw this, florida governor desantis responding to attacks from california governor gavin newsom. watch it again, steve. roll tape. [laughter] >> for decades in this country, people have beaten a path to california. it's a beautiful state, great the topography, all kinds of diversity in terms of the different communities you can live in. now they're hemorrhaging wealth, now they're hemorrhaging population. the other day in san francisco i saw people defecating on the sidewalk. i saw people in an open-air drug market using fentanyl. i saw them using crack cocaine. i grew up in florida, i never saw california license plates until the last four years. [laughter] stuart: all right, steve, is this election, 2024 the, do you think it's going to be about florida versus california? >> well, it should be because you have two totally different,

contrasting models on how to run the country. those sates represent -- states represent a policy agenda that could be applied at the national level. we've seen too much of that california model, the far-left extremism that you now see from california democrats exported to the rest of the country through the biden administration with terrible consequences. but absolutely correct to focus on the real-life effects. gavin newsom, of course, will turn around and say, well, he runs ads and makes speeches attacking florida. but again, it points to the contrast between the parties. he does that on the basis of these esoteric, virtue-signaling, far-left messages, not about reality. he can't point to what's actually happening in california as an advertisement for his policies because what's happening is so bad on every single issue whether that's economic, the climate forbusiness is the worst in the country. on education we have the lowest literacy, 50th out of 50 of all

states. we have the highest taxes and the worst policies. the whole thing is a complete mess because of these far-left policies, and there's no one else to blame because the democrats, these extremist democrats, they've been in power, they've had a political monopoly for decades. stuart: yes. >> nowhere else to blame. it can only be their policies. our start one with of these days, steve hilton, you will see the light and move to a republican state. i'm not holding my breath. steve hilton, thank you. >> thank you. stuart: we better get to the markets. we need some financial coverage morning. we've got the nasdaq up, the s&p s&p up, the dow is down a mere 40 points. lou bass niece on the market this morning. i've got to get technical, lou, forgive me but, look, the yield on the 2-year treasury is 1000 basis points above the 10-year, okay -- 100 points. has a recession indicator. do you think we've got a recession coming? >> no, we'ved had an inverted yield curve for a while now, and

the reality is there's a bunch of chicken littles running around screaming there's going to be another recession, but the rest of the data doesn't support it. mitch prorochelle was on before -- mitch rochelle was on talking about the real estate market. we've had one of the biggest jumps in new home starts in 30 years, that's a leading indicator of the company. let's not forget the stock market, it's been charging ahead. the chicken littles would like to the see it's the only been the seven or eight tech stocks, but the number of stocks advancing versus declining has hit an all-time high. at least 25% of s&p is at or near a new 52-week high, and if we look, corporate earnings are improving and expected to improve at the end of the year. i could go on and on. i wrote an a op-ed for "newsweek" recently laying out all the data, and truth be toll, we shouldn't be asking is a recession imminent, we should be thinking about when the next recession comes, how severe is

it going to be. and i'm going to tell you the data all points to it not being severe whenever it materializes. stuart: okay. will stocks be higher at the end of this year than they are now? >> all the data points to them being higher than they are now, and i'll give you some recent data points. money market funds had hit a record at $5.5 trillion. that's starting to come down, and we're seeing it rotate into the stock market in the riskier sectors like we've talked about here before, small caps can ask micro caps, they're now staging a rally, much cheaper at about 50% off compared to large caps. so we're seeing stocks moving higher. and the other thing, just history speaks volumes, right? it may not repeat itself exactly are, but it always rhymes. when the s&p 500 is up 10% or more in the first half of the year, 82% of the time it's up another 10% in the second half of the year. so, again, if i'm a bear, i'm looking really foolish right now, and i have been for the last six months. and all indicators whether they're economic or technical

market indicators are suggesting it's time to be bullish, not bearish. stuart: okay. turn around from lou basenese, sort of. good stuff. thanks very much for being here. we always appreciate it. >> thanks, stuart. stuart: yes, sir. lauren has -- that's you. [laughter] the movers, what's with ford this morning? heroin -- lauren: a record $9.2 billion loan to set up three ev battery plants in tennessee and this kentucky in a joint venture with south korea. the biden administration and the energy department have the firepower from the inflation reduction act, and ford has the scale, right? they want 2 million evs produced per year starting in i think it's 20 the 26. stuart: and since they're unionized, they get the money. lauren: correct. is this the government picking winners and losers? stuart: of course. lauren: but this is also the way of the future. stuart: fedex, look at that, nice gain. lauren: they're removing an

additional 29 aircraft this year because with demand is down, they need to save money. stuart: we hear stores like dollar general are attracting wealthier people. now they're expanding. lauren: yeah. in their health and wellness category, so you might see the next time you're in one with of the dollar stores more items in the personal care section and also more produce like lettuce and strawberries. stuart: really? lauren: which go bad quickly are. so i was surprised to hear this was where dollar general was putting some of their investment. people need to save money, correct. stuart: thanks, lauren. democrats attacked john durham's reputation at yesterday's hearing. durham quickly fired back earning applause from committee members. we've got the tape and you'll see it. two testimonies from irs whistle blowers accuse the justice department of a cover-up in the hunter biden tax investigation. we're going to follow that one for you. the house has censured congressman adam schiff. he calls it a badge of honor,

but my next guest says he should resign. former u.s. attorney brett tolman is here next. ♪ ♪ if because i'm halfway gone and i'm on my way -- ♪ and i'm feeling, feeling, feeling this way -- ♪ 'cuz you're halfway in but don't take too long. ♪ ♪ chevy silverado has what it takes to do it all. with up to 13 camera views.

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shame! shame! [applause] [inaudible conversations] stuart: in case you couldn't figure that one out, the democrats were crying "shame," not at the censured guy, but at the censure itself. the gentleman on the screen is brett tolman, a former u.s. attorney. back in 2020 to you said schiff should resign. now what? >> stuart, thanks for having me on. you know, back then what we knew was that representative schiff was willing to be, you know, inconsistent with the facts, his state the law and make representation simply for the political gain rather than the accuracy of what he was talking about. i don't think any member of congress should be in the business of creating politics or creating issues and controversy. back then i thought that. i thought especially for someone who's been a former federal prosecutor, they should have a command of the facts and the law and shouldn't throw out allege

concern allegations and accusations without support. i a stand by that, and i'm glad the the congress has done something to make us all a aware of what happened back in 2020. stuart: but he's not going anywhere. if dianne feinstein steps aside, he would like to run for her seat. if she doesn't, he'll run for congress again, and i think he will win. >> well, we live in a different time, don't we, stuart? i mean, this is the moment where you can be censures and -- censured and be one of only 25 in this country and is use it as a badge of honor. you can stand on the house floor, you can lie to the american people and do so because because you think your political constituents want that. that's a far different time frame from where we've been many country. it doesn't make it right though. stuart: right. special counsel durham testified on the hill yesterday. he said it's going to take some time to rebuild trust in the fbi. watch in a moment, please, roll it. >> this is not an easy fix. i mean, it's going to the take time to rebuild the public's

confidence in the institution. the changes and the reforms they have made are certainly changes that are going to guard, to some extent, against a repeat of what happened in crossfire hurricane. stuart: right. if it's going to take time, how much time have we got? we've got with a broken fbi going into an election 18 months from now. >> we don't have time to fix this. we need to fix it immediately. you know, after 9/11, for example, we changed what the or fbi was all about. we made -- we turned them into an intelligence and surveillance agency as opposed to a law enforcement agency. we have to go back, rein them in, their powers, rein in those executives that believe they're a domestic surveillance agency in this country ask if get back to rooting out crime as opposed to investigating our political adversaries. stuart: got it. brett tolman, thank you very much for being with us this morning and delivering some clarity in a complex situation. we really appreciate it. >> thanks, stuart. stuart: come and see us again

soon. thank you, sir. yesterday 's hearings were tense. one democrat congressman attacked durham's reputation. ashley, take us through what happened. ashley: indeed, i will. congressman steve cohen, he's the democrat from tennessee, during a tense exchange insisted durham had damaged his reputation by allegedly helping former president donald trump. watch this. >> the longer you hold on to mrt mr. barr gave you as special counsel, your reputation will be damaged as everybody's reputation who gets involved with donald trump is damaged. >> my concern about my reputation is with the people who i respect, my family and my lord. and i'm perfectly comfortable with my reputation with them, sir. >> well said. god bless you. [applause] ashley: yeah, you heard at the end there committee chair, republican jim jordan, applauding that response along with others in the room, stu.

stuart: the house may soon release transcripts are from irs whistleblowers. this is this relation to hunter biden's tax investigation. so, ashley, when could we see what the whistleblowers have to say? ashley: well, they could be released very soon. a house committee expected to make a decision today on whether the release of the transcripts of those closed-door depositions of two irs whistleblowers are available. hunter biden, as with we know now, reached a plea deal in the case agreeing to the plead guilty to two tax crime misdemeanors plus a felony gun charge that can be expunged after two years. republicans crying foul saying anyone else would have received much harsher punishment. the whistleblowers, though,ed had claimed that hunter biden had received preferential treatment in the case, that politics improperly affected the decisions and there were clear conflicts of interest. we should know by the end of the day whether the transcripts will, indeed, be released.

stu? stuart: got it. coming up, colin kaepernick slamming capitalism. he says it's the reason white principle city persists. guaranteed we're all over that one. the nfl wants to crack down on players gambling. how should they meet this challenge though when betting is just so easy? joe theismann takes it on next. ♪ ♪ you got to know when to hold 'em, know when to fold 'em -- ♪ know when to walk away, and know when to run. ♪ you never count your money -- ♪ ♪ limu emu & doug ♪ what do we always say, son? liberty mutual customizes your car insurance... so you only pay for what you need. that's my boy. now you get out there, and you make us proud, huh? ♪

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stuart: quick check of the markets, we see that the dow is down 50, the nasdaq's up nearly 50 #, s&p down just a fraction. come on in, ashley. i need some rapid-fire business headlines, please. [laughter] ashley: i'll talk like an auctioneer. generation dis, people born between 1997-2012, i just missed it, they're turning to old school tricks, apparently, to save money. carrying cash, how about that? a whopping 69% are using more cash now than they did last year, this according to a may 2023 credit karma report. and of those gen-zers, 59% say they use cash as a way to the

budget. 64% say they spend less money when they pay with cash, when you actually see it go out, you start thinking, wait a minute, i'm pending it all. next -- spending it all. next one, how much money makes you wealthy? a recent survey by charles schwab says people believe you need to make $2.2 million. i don't know where the .2 comes from. the data also shows that 48% of people who feel wealthy actually have an average worth of about $560,000. and last one, this is a shocker, california is no longer the tate with the most expensive gas. where is it? well, the title now goes to washington state up in the great northwest. they've seen gas jump 32 cents over the past month. gas there now is $4.94 for a gallon of regular. it's expensive to get around in seattle these days, stu. stuart: for all kinds of reasons are. all right. thanks, ash. ashley: yeah. stuart: former nfl quarterback colin kaepernick has a new book

coming out, and he's promoting it by attacking capitalism. kaepernick says, and here's a quote, i hope it challenges readers to see that racism is not white supremacy's only ingredient. white supremacist city -- supremacy persists in part because of its relationship with capitalism, ableism and so on, enquote. the book, "our history has always been contraband in defense of black studies," is set to be released on july the 4th. now this: the nfl just announced new changes to its gambling policy for players and staff. they're going to focus on six key rules. for example, like not betting on the nfl, not get betting at their team facility, not having someone bet for them, not sharing the team's inside information. all of that, stop it. joe theismann joins me now. is this going to work when betting is just so easy anywhere, anytime? >> well, stuart, first of all,

good to catch up with you. it better work. i think the nfl, because of the stringent nature of these rules that have been put this place, realizes that you just don't want to let anything seep into the game to give people the perception that the games are fixed. they're really trying to make shower of that. and, you know -- sure of that. from a player standpoint, you think of the millions of dollars that the players are making. if you wanted to go into a facility, i guess in the off season, it might be but i don't think they're going to say if you play in the nfl, you can't -- [audio difficulty] but they certainly want to protect the integrity of the game as much as they possibly can, and i can certainly understand it. stuart: yeah. it's a real challenge when you can bet anywhere, anytime, and some of these bets are really exotic. who's going to score the next touchdown, how far will this pass go. you can bet with on all that kind of stuff just like that. >> stuart, i really believe that with the capabilities now of

some of the new stadiums and some of the upgrades in the stadiums as we see them, pretty soon you'll be able to have your cell phone, you'll have your hand held device in your hand, and you'll be able to do exactly what you just said. you can sit there and say, okay, i think this play's a pass, $5. this play's a run. i think the defense will stop 'em here, they won't pick up this yardage. there's all these, quote-unquote, proposition bets that will become available, i believe, possibly to people as they sit in the stands to increase the fan experience. whatever you want to define that as. but it certainly is an issue, and i'm glad the nfl is getting out in front of it as quickly as they are9 with the stringency of these rules, because if not, we've already seen i think about six players suspended because of it. so, yeah, you really have to be careful. stuart: yeah, got it. more than 80 athletes and celebrities are going to compete at the american century championship golf tournament in july. that's a real tournament. starting today, fans can build their own fantasy golf team

filled with the favorites who are competing. what do you haved to do with this, joe? can you explain what's going on? [laughter] >> well, first of all, it's the american century championship golf tournament, it's a fantasy contest. just like we have fantasy in everything, basketball, baseball, football. american century's been the title sponsor for 25 the years. heavy done a fabulous job, ask and we've created a web site which is www.acc fantasy golf.com. all the rules are there. the essence of it is there's five different groups of people base bed upon your ability to play. so you get to choose one person from each group. if you win it all, you win $10,000 to give to the charity of your choice, you win a trip for two back to next year's tournament, 2024. and if you win each day, you can change players each day if you'd like, if you win every day or each day, you wind up with a trip for two out to lake tahoe for that attorney.

and, i mean, charles barkley is there, josh allen, patrick mahomes. the thing i love about it so much is, stuart, is people there from every walk of life, bret baier, so many wonderful people that you meet from every element, all elements of entertainment, annika sorenstam's one of my favorites to stand next to on the practice range and try to pick up tips. like i say, larry the cable guy, charles barkley, tony romo has won the last down. he's playing really, really well. it's fun to compete, it's fun to learn more about the individuals that you get a chance to see on the television. and i'm a big fan of all of 'em. stuart: my friend and colleague bret baier can still drive 300 yards. can you? >> well, he won the burning tree can -- i mean, he's unbelievable. i see bret every year, and i'm amazed at how far he hits it. of course, he's built like a linebacker -- [laughter] so he's got those -- stuart: he is, it's true. >> he just generates all that power. he's a terrific -- what a

fabulous person. stuart: yeah, what a great guy. joe, it's always a pleasure having you on show. great to catch up with you again. hope to see you again soon. >> thanks, stuart. appreciate it. stuart: thanks, sir. now let's talk pga tour/liv golf deal. ashley, is congress getting into this? ashley: yes. i hope bret baier was watching that interview, it was great. yes, the senate homeland security committee will hold a hearing on the golf merger july 1 11th. the committee wants to hear from pga commissioner jay monaghan, liv golf ceo greg norman and the saudi arabia public investment fund. the committee says this is what it wants to know, to examine how the proproposed deal will work and the risks associated with a foreign government's investment in american cultural institutions and the implications of the planned agreement on professional golf here in the united states. you know, committee hearings are pretty rare, this one only the second one this or year,they

typically small the early phase of a longer investigation, so we'll see what happens. meantime, a new quinnipiac poll shows about two-thirds of americans, 65%, approve of investigating this merger. 51% said they disapproved of the morier -- merger itself, and 45% said american sports organizations should not be doing business with a saudi-backed sports organization like liv golf. it gets a lot of debates going, this issue. stu? stuart: it does. i'm very much in favor of this merger. i think it brings a lot of new money and new ideas into the game. how about you? ashley: absolutely. i totally agree. i mean, it's time to move on, and i think together stronger. toure stuart got it. good sufficient. all right, thanks, ash. back to you in a moment. if the ceo of tech doc said that americans' data has always been stored outside china -- tiktok. now tiktok says there are exceptions. we've got a report on that. oxygen on the tourist sub

now feared to have run out, but the coast guard says the rescue operation is still in an active search mode. the latest on that after this. ♪ ♪

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stuart: mixed bag market dow is down 20 the, nasdaq is now up 77 points, that's more than a half percent, a modest gain for the s&p. mixed picture. now this: the massive search continues for the missing tourist submersible. officials fear the oxygen supply may have run out. lydia hu with me with the latest. >> reporter: yeah, stuart, we're getting some more information just in the last 20 minutes about the ongoing efforts in halifax right now. we're learning from the joint rescue coordination there in hall a fax that a canadian ship is now on site ready to deliver services with a medical team specializing in dive medicine. they have a mobile hyperbaric

chamber available for six people. this is following news this morning that two unoccupied, remotely-operated vehicles have been deployed to search for that missing submersible according to the u.s. coast guard. a french vessel entered the the water this morning, and the canadian vessel reached the sea floor and started its search for the missing sub as well. this is a critical juncture today in the search for the five people because it's estimated that oceangate's titan ran out of oxygen this morning. but the cofounder of oceanengate started the company along with one of the missing passengers in 2009. he posted on facebook earlier today saying, quote, today will be a critical day in the search and rescue mission as the sub's life support supplies are starting to run low. i'm certain that the crew realized days ago that the best thing they can do to insure heiress cue is to extend --

their rescue is extend those supplies by relaxing as much as possible. i firmly believe the window is longer than what most people think. now, navy officials are also deploying a specialized winch system, it's called the the flyaway deep ocean salvage system. it can recover large sunken object toes as deep as 20,000 feet, stuart, that's well beyond the depth of the titanic, but before it can be used, the submersible must first be located, and it takes 24 hours to weld that vessel for a use putting it beyond the estimated air supply. even more grim, stuart, a navy spokesperson who spoke with reporters yesterday could not answer whether the salvage systemed had ever been used to save a life, stuart. so it seems like room for optimism maybe with them. a. stuart: got it. all right, lydia, we'll leave it there. thanks so much. and that missing tourist sub was reportedly using elon musk's starlink service for internet

access. ashley, come back if in again, please, and tell me what is musk saying about this? ashley: well, musk responded to a tweet by the web site snotes.com that asked whether the missing titanic submersible was relying on musk's spacex to communicate. oceangate expeditions says it does use starlink in the ocean. musk responded suggesting the connection was a good sci-op. by the way, no evidence currently suggesting that starlink plaided any role in the vessel's disappearance. defenders of musk are quick to point out that starlink could not possibly be used to communicate with the sub because of the depth involves, it does not work underwater. stuart: starlink is keeping the ukrainians going, by the way, and doing a great job of it.

ashley: yes, you're right. stuart: ashley, thank you. it's that time, we get a sense of the market. that looks to me like a pretty even split. half up, half down, a tine know -- tiny loss for the dow at this point, down just 13 points. the supreme court could rule any day on affirmative action in college admissions. new york post columnist ricky. >> lots says don't stop there, end legacy admissions too. she's going to be the here to make her case. she's next. ♪ ♪ hey now, hey now, don't dream it's over. ♪ hey now, hey now ♪

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♪ stuart:@official, tiktok has officially admitted to storing americans' data in china. so come on in, grady trimble. he's on capitol hill. did tiktok's ceo lie to congress? >> reporter: lawmakers here on the hill, stu, aren't going so far as to the make that accusation, but this admission from tiktok certainly raises the question because it seems to be at odds with what tiktok's ceo told lawmakers earlier this year

under oath when he was testifying on the hill. the ceo said, and i'm quoting here, american data has always been stored in virginia and singapore. but in response to questions from senators marsha blackburn and richard humannen shall, the company admitted that's not always the case. "forbes" first reported tiktok stores social security number, tax ids and other sensitive info of some u.s. creators on servers in china. now tiktok is trying to make the distinction between those creators who signed deals with the company to expand their audience and make money versus average users. this new info does not come as a surprise the lawmakers who support a tiktok ban. >> i think that is their goal, is to say, well, we're giving you some truth, but we're not giving you the whole truth, and we're not telling you the whole story. and that is part of what is frustrating to people. >> i believe and so does all our

intelligence community, all of our law enforcement community that tiktok poses a national security risk. >> reporter: here's what tiktok said in its response to senators blackburn and blumenthal: we stand by the statements made by our company executives to congress. we were asked about and our testimony focused on the protected user data collected in the app, not creator data. so there you see the distinction they're making between creators and average american users. all of this comes, by the way, while the financial times is reporting that tiktok is looking to expand into shopping. it's testing that retail shoppings aspect experience in the u.k -- shopping experience in the u.k. more data they're collecting. stuart: grady, thank you very much, indeed. i've got a headline for our viewers, here it is: don't can stop at affirmative action, end college legacy admissions too.

ricky joins me now. when you say legacy admissions, you're talking about a parent who maybe pays some money to get a child into the same college that they went to. from. >> yes. stuart: what's wrong with that? >> well, i think it's nepotism at its finest -- stuart: true, it is. >> concern and it's the persuasive. and with this affirmative action case in the supreme court, we have a rare peek into what happens into harvard's admissions. now that we look at their admissions data, this past year it was 3.41% to get into harvard. if you're a legacy admit, it's a 33% chance that you have your foot in the door just because of your last name -- stuart: not necessarily just because of your last name. it might also be because you're pretty good at what you do. >> they actually looked at the percentage of kids who are there who are either recruited athlete, children of donors, children of staff or legacy admits, and that's 42 of white kids that go to harvard -- 42% -- and three-quarters of them are estimated to have not

gained admissions if not having been in one of those special interest groups. stuart: but to cut out legacy add admissions, you couldn't pass a law, could you? >> no, i don't think that necessarily needs to be legislative, but we're talking about fairness in admissions, we're talking about affirmative action rightfully but with glossing over the fact that there is a very large and glaring way that people just pump their kids through these elite universities. and i think it shuts other people out. but you could tie, potentially, federal funding to the a proposal like this because, you know, harvard has $50 million in their endowment, but they're still taking federal funding. stuart: that's true. when i was a young man, getting into college when i was a kid in ending lanker you had to go through a series of interviews with the professors of that college and sit for examinations which you had to pass with flying colors. what's wrong with that as a is system of getting into college? >> well, it's a much better system than, i think, what we have here which is who do you know -- stuart: oh, no, t it's not just who you know -- >> no, but certainly -- now

they're getting rid of s.a.t.s at the vast majority of colleges, and the applications are soaring at these schools because there's no longer any sort of strict metric of what someone's success level is. also gpa is grade inflation. we don't really have any numerical, quantifiable measure of success in the college admissions process anymore. stuart: just before we went on the air during the commercial break, we were talking about walking with around new york as a young person in the city. >> yes. stuart: you told me that you carry pepper spray. >> i do. stuart: when you told that, our control room -- lots of young folks who live in the city -- they've got pepper spray too. where with have i been all these years? i've not heard of this. >> i don't know, it's the hot new thing. stuart: it's allowed? >> you need to use to it in a rightful self-defense case, but you're allowed to have it here in thy, although they -- in the new york, you can order it on amazon anywhere except for here and massachusetts, and i think that is an absolutely ridiculous law that needs to be overurned the. stuart: yeah. but it's the kind of ridiculous

that every young person in the city has to carry around a semi-nasty object to repel intruders. >> absolutely. st the world that we live in, and thank god there's a non-lethal self-defense that women can deploy. stuart: florida is a non-lethal self-defense -- [laughter] that's true. [laughter] ricky, thanks a lot. teenagers in high demand, we hear, for summer hiring. ashley? ashley: economists are predicting a very strong summer for teen employment in 2023. according to payroll platform gusto, teens are make up -- already make up 18% of summer hires this year, up from a 5% a year ago. -- 15% fa year ago. average hourly wages for teen workers have gone up 9%, and that is much faster than the average wages among all workers over the last year. in fact, workers aged 25 and older is have actually seen their wages drop 6%.

and thanks to the strong labor market and increased demand for low-wage work, teenagers are more likely to have a paying job over the summer this summer than previous years. so if junior tells you i can't find a job out there, dad, mom, there's just nothing out there, you may want to remind them there are lots of jobs, and they pay pretty good. stuart: ashley, or i'm going to move on fast, an update on the missing submersible. the coast guard discovered a debris field within the search area near the titanic. experts within the unified command are evaluating the information. there's a 3 p.m. eastern time press conference. more "varney" after this. wasn'. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees...i felt trapped. . . [crowd cheers]

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and protects wealth. with millions of ounces discovered and growing, your investment possibilities with nighthawk are endless. think beyond. stuart: we don't have much time, we don't need much time. marie antoinette was queen of which king of france, louie, the 8th, 11th, 14th, 16th. ash you have to know this one? >> 16th. stuart: correct. got to be the 16th, that was the last one before they beheaded them. now we know. great show today. thanks, everybody. "varney & company" draws to sad conclusion, "coast to coast," that that starts now. ♪. neil: well, if the fed chairman now speak together senate is