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ashley: the jesus and smoke, the statue of liberty, that is all you see, hayes and smoking new york city. it is 10:00 eastern. let's get straight to your money. it's all very positive. the dow up 200, the s&p up 1%, the nasdaq also up 11/3 of 1%. looking at the 10 year treasury yield, slightly higher, more than half a basis point, 3.84%. oil is up half of 1% but right around $70 a barrel into bitcoin, above 30,000, down slightly, $297 but still, 169 per bitcoin. in a few minutes the us supreme court expected to hand down its final opinions of the term

including the highly anticipated decision on student loan forgiveness. president biden made some waves in his reaction to yesterday's supreme court decision to end affirmative-action in colleges, listen to this. >> the congressional caucus, questioning its legitimacy. is this a rogue court? >> president biden: this is not a normal court. ashley: you have to think about that. great to see you, i say this is not a normal white house. what do you make of the president's comments? >> it's a rogue white house. i don't believe justice brett kavanaugh and gore such, snuck in their opinions, they were appointed by the previous president, confirmed by the senate. we can disagree with the decision but to attack the

legitimacy of the court is inappropriate and we expect better from a president and that. ashley: what was your take on the ruling? >> this is good news, students are not going to be able to rely on their skin color to get into school but on their merits, that provides a greater impetus for school choice and higher expectations, can't just say we will let them get by on the color of their skin. this means we have all the more urgency to make sure schools deliver and have students who are able to apply and get in based on what they know and not the way they look. ashley: the obamas weighed in on the high court's decision. the former president saying, quote, like every policy affirmative-action wasn't perfect but allowed generations of students like michelle and me to prove we belonged, now it is up to all of us to give young people the opportunities they deserve and help students benefit from new perspectives.

michelle obama added this quote, today my heart breaks for any young person out there who is wondering what their future holds. basically what they are saying is students from disadvantaged backgrounds may not get an opportunity. how would you respond to that? >> they have an opportunity. in chicago these are excellent figures. in 2017 in chicago public schools, total spent rate per student, 15,800. it is now 29,000, almost double. meanwhile, reading and proficiency went from 18% to 10. your spending more but getting less. you are doubling the amount of spending, cutting black student reading almost in half in a matter of six years. appalling. that has to stop. that has to end and this garbage going on in public schools has to be over. if you're going to get on merits, we need to get in on merits and that means teachers unions have to focus on school choice, high standards and

excellent as opposed to apologies, excusemaking and corruption. ashley: not only do the city of chicago, progressive liberal led cities devolving into crime-ridden places where businesses and people are leaving, same with the teachers union. what you done for us recently, look at these results, how do you explain that? nothing seems to change. >> they have a complete lock on the democrat party, parton paid 4. ashley: why can't voters -- proof is in front of you. >> you vote democrat and schools fall apart, you get crime and homelessness, show me any city democrats run where things are running well. when a republican leaves and a democrat comes in, the white house keep voting democrat -- stop voting democrat -- simple as that, stop voting democrat. that's my advice. lauren: sandra day o'connor

wrote want about it, if there's an issue, getting qualified students from disadvantaged background regardless of skin color, fix at the ground level. so they could compete at a higher level. >> starting kindergarten, start early. ashley: got to get onto this subject. california's reparations task force released its final report but the panel conveniently left out the potential payments which is so bizarre. california facing a deficit but residents made it clear they expect big checks, bring it on. maybe governor newsom has backed himself into a corner but after all this they can't come up with a figure. >> another classic example of the bait and switch when it comes to black people. either vote for us are all this good stuff, they don't deliver. black people have been betrayed

by this, i will get my check for $5 million, we don't have the money. i hope will voters in california and elsewhere realize the democrat party is a graft operation, they ripped us off and cheated us, 200 years, coming up on them using us from slavery through jim crow and everything else and attacking school choice, offering people reparations and taking back, time for the black people of this country to have a complete divorce from the democrat party. ashley: fired up today, good conversation, thank you very much. president biden had an interesting exit after his life interview yesterday on msnbc, just wandered off while they were still live. i watch it, it's funny but it is not. lauren: he physically walked behind nicole wallace live on the air. did he get up forgetting you are on a television set or is he out of practice because he

doesn't normally sit for formal television interviews. watch it again. >> president biden: whether they voted for me or not. >> the ones that didn't vote for your bills but run on them. mister president, thank you very much. >> appreciate it. don't go anywhere, very exciting day around here. >> she says don't go anywhere is the president walks behind her. we have these -- usually you are tethered on your chair. he wasn't because it -- he was pulled back. ashley: don't you think someone said mister president, when we are over just stay right there and we will come and get you in the commercial break or maybe -- there he goes. >> some critics are saying that is his presidency in one colette. ask a question and he walks offstage. ashley: look at these markets. lots of buying, the dow up 0. 6%,%, the s&p up 1% and the

nasdaq gaining a bit more, up 1.5%, 200 points. good morning to you. let's start with this issue. of the supreme court overturns biden's $400 billion student loan handout program millions of borrowers will be forced to pay back their loans if they don't get a free hand out. how could that affect the markets or does it at all? >> good morning. how is this going to affect the markets? don't think it will affect things in a massive way but we just dealt with of the debt ceiling, we are having a difficult time bringing down spending so if the supreme court rules that this was unfair, unconstitutional, we get some relief on the spending that's been going on to we have 42 million americans today that have been not having to pay student loan debt because they

have the right type of student loan debt. not all student loan debt but the right type of student loan debt. the cares act which was set up by donald trump in march 2020 was the original issuing of this punting of that debt. we will see what ultimately happens but the consequences for starting up those loans would be the fact that they shared that right now those who've had the relief have taken on more credit card debt, more mortgages and more auto loans. how are these families going to be making those payments in an additional $513 on average, that is a great question so we might see consumer sentiment come down a bit. i don't know if it will affect the economy in a huge way. ashley: you say you do not believe, you think the fed is done hiking and will let things land where they fall but so

many people say we could well, as jay powell says, see two more hikes before the end of the year. >> powell wants to give this impression there's going to be more hikes which if he says it to true pause the market is going to rally really hard and that's very inflationary, once we get new data coming out in my opinion we will see, the fed -- we need 9 to 12 months to see these rates truly get into the system. i don't think powell is going to go up. he's been dovish since the beginning, he's not a hawkish guy. i think he will hold higher for longer, that's the unexpected part for the markets. ashley: great stuff, thanks for jumping in with us today on this friday, really appreciate it. you are looking at some of the movers today. a lot of things moving up, let's begin with coin base. ashley: other crypto related stocks are lower today, the wall street journal is reporting the spc says the

fidelity spot bitcoin etf, the black rock one and others that were recently filed are inadequate so as of now it reported the looks like they will not be getting the green light. ashley: the stock we talk about all the time, in video. wears nvidia today? lauren: they were upgraded to outperform, stock is 240, another 3%. they say we got massively wrong how successful and important generative -- generative ai would be, they were talking about a slowdown in technology but they didn't see this impact from ai. ashley: apple. we been talking about apple. valuation sky high. lauren: if it closes here. $1.50 less than here, $3 trillion company officially. the most extensive iphone, the most popular one, they grow and

have new markets like the vr headset which might not sell out at first but eventually. then there appears. might be a hit. stuart: now this. the supreme court is set to rule on president biden's student loan handout. the progressives are already pressuring the white house to come up with an alternative plan that includes a full report coming up. military academies are exempt from the supreme court's ruling against affirmative action. mark walt is a former green ba -- green beret and he will talk about it. satellite images show the wegner group building up a military base in belarus. the latest developments right after this. ♪ how much i paid, it followed me everywhere.

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that's 1-800-217-3217. ashley: the military has a recruiting problem. army, air force and navy will miss the recruitment goals this year. what is the problem? lauren: veterans usually encourage their children to join the military, they are steering their kids away. they don't like the you woke policies. the army is expected to to be 10,000 recruits short of it 65,000 goal, the air force 10,000 short and 86,000, the marines did meet their targets, the shortfall is one reason the supreme court decision yesterday on affirmative-action does not apply to the military academies because they are looking for more diversity and

more numbers in general. ashley: thank you. take a look at this. european satellite images show a mercenary group building a military base in belarus. which borders ukraine and poland. florida congressman mike waltz joins me now. should we be concerned about a buildup of wegner troops in belarus? >> i've said all along that vladimir putin absolutely needs the capability wegner presented him. they were the only entity really from a military standpoint that has been somewhat successful in ukraine as the broader army has completely failed but it is not just in ukraine. it is also in syria and africa, all over the world the weather is gold mines, lithium mines, zinc, or other natural

resources, wegner has provided that force that cannot only secure those along with the cash that pumps into vladimir putin's economy but also influence those local governments in line with russia's interests. he has to have them. i think this was windowdressing in this deal. i keep having more questions than answers. ashley: it is confusing to figure out what is going on but i want to move on to the subject, china just unveiled a new foreign policy law, beijing says they will impose countermeasures against any action it deems a threat. i would imagine they would do that anyway but you are in the foreign relations committee. is this because there are growing calls in this country to decouple from china? what is it? >> the decoupling, de-risking, whatever you call it, the restrictions, the biden administration on semiconductors. i'm now leading a task force to

streamline our military sales particularly to taiwan. i think it is a reaction, a lot of bluster on xi's part but two things it does do that it is important, it puts foreign policy squarely in the hands of the party and not the state and it gives some additional authority to do sanctions from china's perspective so rather than complaining about hours, they will counter with their own. ashley: last topic for you. the supreme court ruled against affirmative action in colleges but also exempts military academies. what is your take on that? >> i find it incredibly disappointing and incoherent in terms of the logic in moving on from affirmative-action if there is any entity in america that absolutely must be a pure meritocracy where we have the

best of the best it is in the military, and the military is overrepresented in terms of minorities compared to the population. this notion that it is squarely a national security concern in terms of diversity, the pentagon can't provide me any data that shows a fighter squadron or tank battalion is more lethal or more ready depending on its diversity mix. that is attired talking points. we got to have the best of the best. ashley: we heard a report that military branches are all having problems recruiting and meeting their goals. how much of a concern is that because we are going to be weakened. >> it is a huge concern. the army is missing not by a little bit, but by whole divisions worth of soldiers, 25,000 last year, operative 10,000 this year and they are coming to congress saying we

have to cut brigades and divisions out of the military because they are only filling them at a rate of 60% to 70% so they are going to cut formations to fill up the ones they have. if this goes on too many more years this is going to start to cullen to question the viability of an all volunteer force and we've got to arrest this crisis and i'm not seeing this pentagon moving in the right direction. ashley: we will have to leave it there. thank you for joining us this morning. >> thank you and happy fourth. we been watching this, us supreme court expected to hand down its decision on president biden's student loan handout today. lydia joined the sunset. does the white house have a sort of backup plan of the ruling doesn't go their way? >> if they do they are not talking about it, not sharing that information just yet but that's not stopping progressives from issuing the

calls that president biden have a plan b. you can take a look at this tweet from representative core who bush, member of the progressive wing from yesterday who said, quote, regardless what this extreme right wing supreme court rules on student debt, the president of the united states has other tools to cancel the debt. he must use them if necessary. as currently planned student loan forgiveness what happened under the 2,003 heroes act. that requires an emergency or crisis situation. the biden administration would argue that covid was that crisis situation. a lot of republicans say that was not a crisis situation warranting widespread cancellation of student loan debt. if that's not met here, than the other law progressives are looking to is the 1965 higher education act. if it grants that about of education authority to waive or release borrowers from student loans. it does other things like

provide student assistance through scholarships and low interest loans and would also allow him to forgive loans too. there are concerns from progressive senate debate among them whether it would be offering fast enough if they went down this route, probably push that relief past 2,024 which is beyond the election and could be a problem for president biden. the other thing is the wall street journal has reported previously the white house is considering a grace period if they come back into play, perhaps they would delay referring accounts the fall to delinquent status by a couple months, to give people a hand but it is not clear what they do. of student loans are not forgiven, the supreme court comes out and says we can't have this policy in place, 60 million borrowers that have so far been approved will have to go back to paying for those loans.

ashley: i would imagine, the education act of 1965 is going to back to court. >> i think no matter what happens my guess is we will see this be litigated. ashley: great stuff, thank you, waiting for that decision from the supreme court. now this. thousands of americans are stranded thanks to a week long travel nightmare and it isn't over. grady trimble will tell us what you need to know for the holiday weekend. patients would help. the president selling bidenomics but americans not buying and research shows the president's growing relations are costing households nearly $10,000. economist peter morici will take that on next. ♪

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consumer cellular. ashley: look at these markets, pretty healthy looking, the dow up 245 points, the nasdaq up 11/3%. as we finished the first half of the year investors are trying to move. president biden trying to

convince voters his bidenomics plan is working. edward lawrence joins me. we talked about this before, no matter what the president is telling people are not buying it. >> reporter: the hard sellers on here, all hands on deck for this administration trying to remasters this economy, president biden wants you to forget the inflation we have endured over the last 30 months, cpi inflation, where this went since the day, almost a month president biden took office. the fed's favorite gauge which is pce inflation dropped to the lowest level since april of 2020 one overall but the fed chairman says he's looking at the core rate which is basically moving sideways, higher than the overall inflation year-over-year. with this inflation americans have about $1 trillion in credit card debt. almost all paying 20 plus interest.

casey mulligan had a study showing new regulations and policies would cost american $60,000 extra for a family over 8 years. >> is matted is that we don't realize how great it is but we have a real human capital crisis right now. workers are not able to be as productive as they used to be. we see it at the school level, the kids aren't learning. wages aren't keeping up with inflation. that the other side of the park to be coin. >> the latest fox news polling showing 45% of registered voters believe they are falling behind financially. 11% believe they are getting ahead. in the bidenomics kickoff speech this week, president biden says that his plans are working. >> president biden: it's another way of saying restore the american dream. as it worked before.

what we always worked best in this country, investing in america, investing in americans. >> as americans are squeezed, adding the student loan payment which is scheduled to start again september 1st, that can stretch budgets even farther. the federal reserve estimates the average monthly payment is $393 a month. add in inflation and it's costing a lot of money. ashley: it certainly is. the president continues to boast that his economic plan is working but a new fox poll shows 45% of the country feels they are falling behind financially. peter morici joins me now. great to see you. what is the president not getting. he's on this tour to, quote, connect the dots. people don't feel financially better off. >> americans can add and subtract. they go to the grocery store and see how much stuff costs and they look at what they are taking home and realize their

real income has been falling. these are not abstractions, the cost of regulation a slow product of the growth and so forth. he's try to take credit for things that are not his. not is. during the last quarters of the trump administration employment was jumping through the ceiling as we came out of the pandemic. to say you are responsible for the all employment growth that has taken place because we ended the government shutdown is ludicrous. he says things like yesterday about the supreme court that are just unreal and can't make sense and are detached from the values of the american people. they don't believe in this government intervention. ashley: polls have been consistent in what they show. new research shows regulations put into place by the administration have cost americans $10,000 per household and that price tag could

skyrocket if there's another four years of the biden administration. >> i was reading this morning about the new capital reforms that will come down from the banks and how complex they are, all the gaming the goes down on both sides to make it work which is kind of interesting if your into bureaucratic poker but consider all time it takes to play those games, those are bankers that are not banking. over one hundred regulators go to work every day at jpmorgan. they are not producing anything and people that fence with them are not making loans, not trading or anything like that. this has to weigh on what people learn. it's that simple. there is too much of president biden in the values of his ultraleft west wing imposing on the ordinary decisions of everyday americans. ashley: tax and spend is not the best growth method at all. all. redistributing wealth, we know it doesn't work.

many countries have tried it, are trying it and it doesn't work. >> i have a very extensive education and economics. ultraliberal professor, i had plenty of them, could ever show me on a black ford how raising taxes increases wealth or income and at the same time no one could ever show me how putting cuffs on people's ankles made them run faster and that's what regulation does. it's that simple. you have to have a purpose with all these things and they simply don't. ashley: we have to leave it right there. appreciate it. san francisco released a memorandum which defines what a low income exactly is. what's the number? >> $104,400 a year. that's the income that considers you low income in the city of san francisco. very low income is $65,000. if you are moderate, you pull

in $150,000. bottom line is most san francisco residents are low income because the median household income there is $126,000. ashley: for that you hang out with all the homeless. ashley: and see her stores closed on because businesses cannot afford to be there either like san francisco. even democrats say it's a dystopia. they really do. ashley: whether that said, let's look at the movers in this pretty strong market as we head towards the end of the week. we begin with tesla. ashley: more elected vehicle makers signing up for charging infrastructure. they are close to being the official standard. the list goes on and even the equipmentmakers are offering chargers, the standard. ashley: the next pun? lauren: they priced at lower

than tesla's model wide by 20%. look at the shares up 11%. ashley: x pun. bright health entering into what? lauren: an agreement with melina health to spill their california medicare advantage business. $600 million. that's why it's up 5.5%. they are expanding to low income markets. ashley: thank you very much. now this. diet soda drinks have been long been used as as way to slim down but the world health organization could soon label the sweetener used in those drinks a carcinogen. we have details on that. sriracha fans seeing red as prices are skyrocketing. we will tell you behind source inflation. who is calling and that? next. ♪

ashley: the decision is income us supreme court is blocking president biden's plan to cancel $430 billion worth of student loan debt. edward lawrence joins me with the latest. >> it did just come down but i can tell you they did strike down, there were two cases with this. they did will the plaintiffs did not have standing in this, the court ruled the states have standing and beyond that they struck down the debt forgiveness plan from president biden. the white house currently looking through this report as they have just gotten it as we have gotten it. they are trying to figure out what their next response might be. we could see the president have another speech as he did

yesterday. the oral arguments were back in february, the president asked for student loan forgiveness to be off the table when talking about the debt ceiling talks, the president's plan would forgive $20,000 in student debt affecting 30 million borrowers but the federal reserve estimated it would forgive 440 one billion dollars in student loans. the solicitor general for the administration argued it was clear, unambiguous text of the heroes act that allow the department of education to wipe out, to change any provision of the federal student system and wipe out that that. the decision is coming down along conservative and liberal justices saying they ruled against that, that's not something they can do. the heroes act was used after 9/11 as an emergency procedure and the heroes acted as allow changes by the department of education for national emergency.

that is where the states poke holes in this case, the national emergency doesn't rise to that level. we are going through this decision, just came in and we expect possibly to hear from president biden in a statement or speech as he did yesterday. this is a campaign promise from president biden. advocacy groups have said they would like the president to come at this and do student forgiveness another way should the court strike it down, the court did strike it down. ashley: thank you very much for jumping on that so quickly. we now know that the us supreme court has indeed blocked president biden's student loan forgiveness program, would have promised to deliver $20,000 of debt relief for millions of borrowers. has been a huge topic of debate especially among those who went to college, worked 2 or 3 jobs and paid off their loan, to be told that others can just have their debts written off doesn't

sit well with a lot of people. we are waiting to get more details of this but it is an issue that has upset quite a few people. lauren: if you feel you should have your debt up to $20,000 wiped out and haven't paid your loans thus far because you have been promised for that, you voted that when you voted democratic, you have written it out. if you are mandated to start repaying your debt and haven't for three years are you going to start to do that now? i don't think so. on the flipside, all those people who worked many jobs and their parents worked hard to pay off their loans, not fair to them either. they would be cheering this decision. ashley: i have a mortgage, would love someone to pay that off, maybe a car payment. lauren: where do you stop? ashley: they signed on the dotted line, took it, they went to college and now saying you are going to pay it for me, great. still waiting for more details on this, literally just came

out but the question back to edward. we spoke with lydia earlier who pointed out there's an education act of 1965 that gave the education department the ability or the authority to go ahead and wipe out student debt. not sure what the white house is going to do here but i am sure they must have an alternative plan set up already. >> reporter: that formulate and, the president and his speech offered a workaround for the supreme court ruling, something i haven't seen from a president, talking about a supreme court ruling but in this ruling it says the supreme court ruled against the biden plan, over its ambitious and expensive student debt relief program, the white house lacked the legal authorization to provide billions in federal loan forgiveness for borrowers absent clear authority or

authorization from congress. it was a 63 ruling, the majority was from justice john roberts. the dissent came, the split was down ideological lines, justice kagan writing the dissent and justice sotomayor and jackson adding to that. in the dissent they did say the majority overrides the combined judgment of the legislative and executive branches, the consequence of a laminating forgiveness for those americans, they respect fully dissent from that decision. obviously down party lines, this was a very heated debate on both sides but, political, republicans and democrats on this, you'll see republicans cheer this decision and democrats say this is a court that has gone too far to the right, those are the arguments we are hearing. we are waiting to see if the president is going to speak on this or have a statement related to this and if he does speak, will there be a workaround the president gives

in order to bypass this decision? we have to wait and see what happens as this unfolds. ashley: thank you very much. sources say the president indeed plans to announce new actions in light of the supreme court's decision saying the white house disagrees with what the court decided and trying to also according to some reports, want to make it clear that republicans are responsible for denying these student borrowers their relief. we will take a quick break and have more varney after this. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel. i'm a big advocate of recommending things that i know work.

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ashley: us supreme court has blocked president biden's plan to cancel $430 billion worth of student loan debt. edward lawrence joins us again on this which was a 63 vote along party lines you could say or ideological lines, what is the main argument, have you been able to find that out? >> one thing that's interesting from the white house, the white house started, was it may 11th collecting applications to have the debt wiped out. the department preemptively approved 16 million

applications for relief, that just goes away. this was led by six gop states and private borrowers who filed losses to haul the effort in this what they call overreach and the reason fox news paul on this count 49% of those surveyed think biden's executive action exceeded his authority, 44% think he acted properly on this. we will get into the legal arguments. this is a long and lengthy report. justice kagan is reading oral dissent from the bench, she expects roberts to make the comment. the court is saying it has never drawn the line as the secretary suggests among congress, the most important authority to control the purse. they are saying congress is the one that controls the purse on this. that's where they are drawing the line in this decision, the president does not have the authority to give this much money to forgive the amount of

debt he wanted to forgive. they are putting the authority of the purse on congress and recognizing that authority going forward which could have implications for other cases going forward as you talk about the things he wants to do and spend money on like climate change, that could have implications going forward but the court ruling that the power of the purse lands with congress. stuart: you cover the white house and this has been one of his signature topics, something he was planning to tout as we head with the 24 election. i suspect this could end it back in court but guess not, it's the us supreme court. if the administration tries to come in with another alternative than that could get tied up in legal challenges but to get back to my point the president wanted to use this as one of his major accomplishments, pretty bad news if you can't. >> still in his campaign can say look what i tried to do.

it was those guys that pushed back against it. he can still make this a political issue. he tried to do it. we have rumblings in the white house, they are trying to work on ways to figure out how to still relieve some student loan debt and fulfill that part of the promise. they are looking at this decision, to see where that can emulate from at the white house right now. stuart: thanks, great stuff covering this. going to bring in several community college professor, what is your reaction to the ruling? at the very heart of this is president biden doesn't have the authority to make this kind of decision, wiping out all this debt. what's your reaction? >> i'm not surprised by the decision. even with this decision it doesn't tackle the real problem which is the high cost of college education and that is

attributed to the government student loan business as well as the idea of pushing four your university bachelor degree. i talked to my students at my students chose community college because it is fiscally responsible, viable alternative and we need to stop pretending the only solution to a successful life is a four your degree. we have trade schools, community colleges, they can start their own business. there are viable solutions to have a successful career and i'm the product of a community college and i have been successful too. stuart: my next question, we've been kicking this about, what happens from here, we expect the president to maybe come out with an alternative plan to try to get around this. how do you see this playing out? >> speaker pelosi said the president didn't have the authority, democrats were in the agreement, now they want to use a backdoor attempt to give

him the authority to do this for the truth of the matter is again it does nothing to solve the real problem of high tuition costs and if democrats put in as much effort trying to find something, to fixing the real problem. stuart: i think we lost you. did we lose you? are you still there? >> student loans isn't the solution. we need to make sure we don't have encourage the sense of entitlement in the student body. ashley: this is a major plank in his platform. we had a reporter earlier today, there's a 1965 education act that basically says the education department has the authority to wipe out student debt. i wasn't aware of that, one of those weird aside things but if the administration tries to use something like that i would imagine we will be straight back in court again. >> correct. we start start at square one.

will go through the court and be challenged. ashley: interesting. do you think this is getting resolved anytime soon? it is very likely the administration will try to come up with to your point a backdoor deal? >> what we need to do is start looking at why companies and municipalities like pennsylvania and virginia are moving away from college degree requirements and that right there tells us there's not enough value in the four your university system where people are seeking alternatives. ashley: people pony up an awful lot of money and what i want to know is what is that money paying for? is it for long-term tenured professors on big salaries? it has gotten quite frankly out of hand, would you agree? >> i would agree, college tuition has increased 168% in

the last 30 years and now you have institutions requiring degree requirements of diversity, equity, inclusion in every major they can think of so people are reconsidering their approach, the leadership at student campus reform have been reporting on the useless college classes like adulting, the right to be lazy. why should taxpayers be responsible to pay for students to take those types of courses. ashley: absolutely right. stay there if you can. i want to bring edward lawrence in again. we are getting a sense we will hear from the president. whether it is a statement or we will see him in person, do you know how soon that could happen? are be looking at noon or maybe early afternoon? >> hard to here. i'm not hearing your show at the moment on this but i want to say there's a little more from the argument on this,

justice roberts rejects the argument by the biden administration and in the dissent that this was precisely the kind of program congress intended when it enacted the heroes act. they are coming at this related to where the authority lies to do this. roberts rejects the biden administration contention that heroes act gives them the power to waive these legal provisions saying the effort to way of here does not remotely resemble how it has been on prior occasions, saying it doesn't rise to the level of the heroes act. that was for 9/11 so this is all about the authority for the president to do this type of thing going forward. ashley: let me get back to nicholas. this doesn't come as a surprise to your point. you expected this. do you

>> when students signed a contract, they are committing to an obligation to repay those loans . as of right now they have to repay them. unless congress comes up with a plan to forgive student debt, it's going to continue to go through the court system and be knocked down, but again, what we need to focus on is actually tackling the cost of college education, and promote the viable alternatives so that students don't fall into the debt trap. this is a one-time deal that president biden was trying to do and all it did was it keeps the problem going on longer without holding the institutions accountable for continually increasing the cost of tuition. ashley: is this the tipping point we've long complained about the cost of higher education and is it some moment like this that maybe, just maybe we'll get some reform? >> well, let's be honest. i mean, this is a bailout. it be a bailout to the higher education institutions themselves so maybe this will actually force them to rethink

their approach to how they charge college tuition. maybe they will be more likely to take responsibility and return on investment depend on what you're majoring in. you shouldn't take out $100,000 of student loans to be a teacher , or a police officer, and those are the messages that we need to put out, to reach the student body and to reach the parents out there. ashley: well, reform is most definitely needed. nicholas, thank you and again the u.s. supreme court on a vote of 6-3 along ideological lines, basically agreed with six republican-led states that had sued to challenge this bailout program by some estimates would cost more than $400 billion and again, basically, the court rejecting the initiative saying that president biden exceeded his power. all right it's now right at 11 a.m. right here in new york and again, we're just going to reset the program for you. we've got the supreme court decision on studen