ashley: how many people signed the declaration of independence? lauren just four in the studio. what do you say? lauren: i take number one, 13. stuart: ashley: i'm going with 26. we have one for 39, the answer is, survey says, 56. mister jib operator, you've got it. lauren: there is no explanation. ashley: just going to accept it. quite a crowd, wasn't there? did you have a good fourth of july? lauren: i had a good fourth of july. i was the guest. ashley: i got a nice e-mail from someone who says enjoy your day at work, england. we had a good laugh. it was good fun. we are out of time. that is it for "varney and company". thanks for joining us today. coast-to-coast starts right now.

dave: a big win for the first amendment. a judge limits the biden admin a station's influence over social media content. reaction from 2024 republican presidential candidate vivek ramaswami. president biden is on a cross-country tour to tout his own economic policies. andy pudzner says there's a difference between spin and reality. we look at airline disruptions, waiting on the tarmac could be the status quo for another few summers. welcome to the show. our top story, the biden administration dealt another blow, this time from a federal judge barring administration officials from having any contact with social media companies for the purpose of

censoring free-speech. grady tremble at the white house with the latest. >> reporter: what this temporary order does is blocks biden administration officials from working with social media companies to flag and remove posts that contain protected speech under the first amendment. included in this temporary injunction are white house press secretary karine jean-pierre, health and human services secretary xavier becerra, surgeon general of the department of justice at the fbi among others, 155 page ruling of the trump appointed judge says if the allegations made by plaintiffs are true, the present case involves the most massive attack against free speech in united states history. those plaintiffs, attorneys general in louisiana and missouri who claim the government worked too closely with big tech companies like facebook, twitter and google to

silence specifically conservative speech. they cite examples like the hunter biden laptop story, the covid 19 lab leak theory, the efficacy of masks and vaccines during the pandemic. >> it is one thing when the left applauds silencing conservative voices on big tech social media but what if they -- what of all speech was silenced and controlled by the government? the idea is we invite dispute and get to the truth through consensus, through free, fair and open debate, so it is healthy to have the first amendment right of free speech. >> reporter: here's the white house response. doj is reviewing the court's injunction and will evaluate its options in this case. this administration promoting responsible actions to protect public health, safety and security, like a deadly pandemic and foreign attacks on elections. we should point out this order does not bar government agencies from working with social media companies on

issues related to national security and crime. we reached out to the big tech companies but so far have not gotten there response to this injunction. dave: i want to bring and republican presidential candidate vivek ramaswami. great to see you again. is the judge right? was this the biggest attack against free speech in our history? >> the judge is right. i was actually writing about this starting in january 2021 when along with my former law professor we were the first people to advance this legal theory. it was dismissed at the time. what we said was if the government actors are using private companies, what the government could not do through the front door, those private companies are bound by the first amendment. that buck's conventional wisdom because the first amendment usually applies to the government but turns out they

are turning companies into their ponds to censor speech protected by the first amendment, that is bound by the constitution as well. this is the first landmark case in which a federal judge came down on the side of the legal theory i advanced two years ago. at that point this is a milestone for the protection of first amendment freedoms of every american. the most dangerous first amendment threat is not the one that comes directly from the government but one that comes from the government and is disguised to make you think -- dave: there are two parts to the censorship story. the administration, they may be connected, there's what was called by trump and others the deep state, you had the fbi, direct content can we don't know the extent to which the fbi might have been leaned on by the administration to do what they did when talking to twitter about censorship. it is not only the people in

the white house but whether agencies might be using social media. >> absolutely. we have a waterfall of political accountability. the constitution set it up so congress made laws and the president and executive branch executed them. the step number one was the alphabet soup of the administrative state. fcc, fbi, and so on. they are delegating that to a new alphabet soup of fb, geo og, be okay, a mzm, and sft, the new alphabet soup of the private sector. this is what i call the woke industrial complex, a merger of private power and state administrative power that together is more powerful than what either could have accomplished on its own and if it is state action in disguise the constitution still applies. that is what the federal judge held, a landmark milestone for protecting free-speech rights of americans across the country.

dave: the organizations may alphabet soup you were talking about were elected, that's the point. these unelected officials are doing so much to control our lives in so many ways. i want to move on to you because you have moved up to number 3 under ron desantis, a lot of republicans are running. what are you doing right and how do you get even higher? >> if you look at the metrics of the number of campaign events it blows the other candidates out of the water. using the same formula that worked for me all my life in the business world and academics, hard work pays off. we are putting in the work. the other thing i am doing is speaking honestly. my entire campaign strategy, i don't listen to message consultants for my message. my job is to let voters of this country know who i am and whether they vote for me or not is their decision. if i let them know who i am and

what i believe, going to sleep with peace. ashley: dave: a lot of people wonder why ron desantis wasn't able to make more progress going against donald trump. one thing that was pointed out is didn't focus on the economy, his fight with disney and other stuff. because americans are so concerned about the economy, president biden is vulnerable on this, 24%, 76% says the economy is in fair or poor shape and his approval on the economy is up 5 points in the past couple weeks but still only at a 38% approval, 60% disapprove. was that desantis's fall? will you focus on the economy? >> here's the lesson.

this election will be won on who has a vision for where we are going as a country. not based on retrospective blame or boasting but a vision for where we are going and that includes economic growth. not just a discussion about tax cuts or tax increases versus spending cuts. it is a question of how do we unlock gdp growth in this country itself? my vision is we unlock american energy, drill, frak, burn call, embrace nuclear. put people back to work. no longer paying them to stay at home. reform the us federal reserve. restore single mandate for the us fed. shut down the administrative regulatory state. that's a wet blanket on the us economy. that is a vision where our economy is growing which people tend to be more proud of a nation where they are making more money and that nation, focused on what we are running to.

that's a successful -- ashley: air travel being put to the test, 50,000 flights expected to hit the skies after a spectacular display of cancellations and delays over the holiday. live from newark international airport, more on this. >> reporter: one of the airports that was hit the worst but we still saw the strongest travel we've seen over this july 4th weekend after tens of thousands of flights were canceled and delayed. things moving smoother today but many of those who had canceled flights still struggling. he was still at newark airport this morning. take a listen. >> i first came to newark and then had to cancel my flights.

they were two hours. to come back, i'm a little bit irritated. >> reporter: the company confirmed to fox business that they will be reducing the number of flights outside of newark this summer. they were not specific how many will be cut but that is confirmed. the company handed out 30,000 frequent flyer miles to travelers hit last week after travelers spent the evening airports trying to get to their destination. the demand for travel very much still here. we set the travel record friday, 2.88 million passengers went through tsa checkpoints, the most we have ever seen in a single day. travelers are not only back about setting records. the faa on the other hand is struggling with staffing.

secretary transportation pete buttigieg acknowledged ward air traffic controllers are necessary. the agency has plans to hire 3000 over the next two years. even with that the agency is struggling with staffing, people calling out sick. looking at today we are currently seeing over one thousand 500 delays in the us and over one hundred cancellations. people we've spoken to today got to the airport early, try to hope for the best but another thing i heard in terms of frustration is they are spending so much on their tickets and no guarantee the flight will take off on time if at all. there is a frustration there but a necessity when it comes to travel. it is not clear if that happens in america today. connell: ashley: how would you handle this? >> the dirty little secret is part of what is causing this is

a decision made in the department of transportation itself. during the covid 19 pandemic. to delay training for people who could be air traffic controllers. that shortage is coming to do. when pete buttigieg, the secretary of transportation said this is not the government's fault, do not believe him. it is absolutely the fault of failed covid 19 policies that used covid 19 as an excuse for an epidemic of laziness across this country especially in the federal government. every day americans are paying for. i predicted is here to stay as a problem. dave: despite when these agencies don't deliver, not only the faa but that's part of education spent $200 billion of k-12, covid relief and test scores keep going down. when agencies don't deliver, is there a way to make the government we pay for accountable? >> we need a president, that's what i'm going to become who is

willing to shut those failing agencies down. i will shut down the department of education. on strong constitutional authority which i have a plan to layoff 75% of the federal employees. usually republican presidents have been told civil service protections for the federal bureaucrats would stop me from doing that. turns out i have read the law. civil service protections only apply to individual firings to protect against politicization. they don't apply to mass firings. mass firings are what i'm bringing to washington dc. dave: that would be a revolution. great to see you. stay safe on the campaign trail. go woke ago brooke, ben and jerry's didn't get that memo. the company is being slammed for its fourth of july message next. ♪

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dave: on the eve of janet yellen's visit to china, tensions escalating as the ccp exposes export controls on

metals used in computer chips and solar panels not to mention they are a violation of america's airspace. christian whiten joins me now. the white house says yellen will see common ground on issues but of all the threats china has been making is this the time to make nice? >> terrible time to be doing it. you have to wonder what the administration's strategy is. looks a lot like appeasement. why do they keep going over there? they say there are guardrails on relationship, they want a floor, to secure relations with china but that looks a lot to the chinese and the rest of the world why china can get away with anything and not face consequences, still be welcomed, not only is yelling -- yellen going over but they are setting up a meeting with the president, xi xinping, it's

diplomacy for the sake of diplomacy, mistaking meetings for achievements. dave: secretary yellen claimed about donald trump's trade negotiations where he had tariffs on china. the biden administration hasn't gotten rid of most of them as far as i have seen but at the same time she says they were inflationary but when he left office we had inflation of 1.4% annually, that wasn't inflationary by today's standards. >> it didn't show up in actual inflation unless we track better the biden record of inflation where americans purchasing power decrease 15% and it keeps on going. we don't have a policy. the chinese retaliated against us export controls the strict semiconductors that are useful for artificial intelligence, they put restrictions on licenses with minerals that are

useful for semiconductors and other applications. one thing china is holding this risky for the united states is advanced pharmaceutical ingredients. they are quickly important for americans and a lot of things. they can do damage to us. biden shouldn't be toying around with this stuff. dave: we have 20 seconds. on china's relation with russia they claim they are behind putin despite what happened with the wagoner group. what is happening in russia? what's happening with the wagner group, they are military, and their activities in ukraine? >> a lot of consolidation, putin is exerting political control. he likes people working in cross purposes until it became too impressive and they see weakness, how far wagner got to moscow. if you are looking at china's

minerals and natural resources, and interesting thing to take away. russia has a nuclear arsenal, looks like political weakness but putin may come out in tighter control. dave: thanks, appreciate it. voters are not convinced the economy is improving but that's not stopping president biden from hitting the road to tout his economic policies. andy pudzner is here to explain why the numbers don't add up. ♪ ♪

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dave: some new information that the secret service has confirmed the white powder found in the white house is cocaine. the question is how it got into the west wing, still being

investigated but i want to get to it with mark meredith who has the latest. >> reporter: as you mentioned, the white house, the secret service confirming the substance found within the white house was cocaine. it was suspected all along but they are proving after multiple tests. we will give you a white house press briefing a few hours from now to shed some new light on what's behind the scenes. the investigation is still ongoing. they discover the drugs sunday. i hazmat team was called to the white house. the building was briefly evacuated. he didn't talk about the incident when he hosted military families and his own family on the south lawn. his son hunter biden front and center. more attention expect it to be on hunter later next week. tomorrow is the deadline house republicans gave the us attorney in delaware to answer questions how the investigation into hunter was conducted. the president's son is a potential liability for the president's reelection campaign. a new piece argues the

president deserves a tougher primary, that nobody is owed another term because they are completing their first. you have to fight for your right to be your party and your country. president biden stepped up his reelection efforts in the last few weeks. he held a campaign event with union numbers in pennsylvania. did a video with former president obama to solicit donations. he will probably be back for fundraisers fairly soon. no serious primary challenge to the president. dave: thanks, appreciate the breaking news. the white house pushing the second leg of president biden's investing in america tour. the president rolled out the centerpiece of his bidenomics plan last week claiming government spending should lead the way for the nation's industrial policy. listen. >> president biden: i'm investing in key industries in the future making targeted investment to promote invention

in semiconductors, clean energy. under trickle-down economic theory was the public investment would discourage private investment. give me a break. dave: visiting fellow andy pudzner joined me now. does the private sector need politicians, most don't have experience in business to tell them how to invest. >> the private sector doesn't need particularly from this administration advice from the government, got to invest when the government advises the private sector unless the government is funding that investment, usually ends being when they fund it over time. the biden administration should focus on making it easier for businesses to make these decisions on the road. reduce taxes, reduce regulation, energy production, and it is a big mistake. dave: a lot of corporations,

milton friedman, the great free-market economist, used to say the second biggest enemy of the free market after the socialists are corporations who want the free market for everybody except themselves. sometimes these corporations get on the bandwagon of government spending, they don't get volpe, they are inches for the money. have you seen that happen? that doesn't affect the small businesses of america but sometimes big corporations are more about spending programs. >> the automotive industry, you see every company out there trying to get these bidenomics dollars, green energy dollars and losing their shirts. every card they produce, they lose thousands of dollars on every electric vehicle they produce, building battery plants and expanding because government dollars perhaps when there's a new administration in 24 they may regret these

decisions. dave: all electric car coming, looks like tesla is continuing to chug along like ford and gm when they try to do what the government tells them to do, they lose billions on electric cars. when you don't have skin in the game is the government does, when politicians are spending other people's money it is not like private investments because they don't have skin in the game. >> consumers generally drive our economy and decide if it's the blackberry or the iphone. they pick the iphone, they should do the same thing. it should be consumers doing this. when you step away the results are generally pretty bad. dave: i want to switch to another business or, the latest chapter incorporate wokeness, ben and jerry's talk to social media on independence day

saying, quote, this fourth of july it is high time we recognize the us exists on stolen indigenous land and commit to returning it. after all the massive back lash from bud light and target's woke ventures you think this is a smart tactic take? >> don't know why anybody carries why two all liberals in the ice cream sector should think -- who cares what they think about what happened to indigenous americans or native americans. this is really not an opinion i respect particularly. they are not like, they don't have national appeal like target or bud light or disney, they got hurt very severely for making these ridiculous leftist woke statements or policies. ben and jerry's has been marketing to the far left for a long time. that is what they do with their target market.

maybe comments like this, conservatives and people in the middle-of-the-road on these issues say we got to stop supporting these guys, this company but the risk for them is like nike, patagonia, starbucks, they appear to that -- why anybody cares what they think i have no idea. dave: very quickly, you saw the supreme court decision last week on affirmative action affecting colleges but a lot of people wondering if it will spill over into corporate diversity and equity programs. you think -- a lot of these programs are being protested by people who work for them, judged on the basis of their skin color, not the quality of their work. >> justice alito pointed out that a different provision, different section of the civil rights act of 1964 actually makes the tenets of that decision applicable to companies that employ 15

people. this absolutely will apply to the private sector and judging people not based on their race or sex or other politics or religion but judging based on their merit, character, qualifications, the kind of things that made america great and drive the economy and i bet we end up as diverse if not more diverse workforce looking to merit then we are getting with the use affirmative action things. dave: thank you very much. coming up, france rocked by protests. it could cost businesses more than $1 billion. some worn the destruction there may be coming here to the us. that's next. (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can with once-weekly mounjaro.

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dave: welcome back. markets falling during a

holiday shortened trading week. the two year and 10 year treasury yield curve, the most inverted since september 1981, right before a huge recession. the capital director of strategy, francis newton, joins me to talk about this. that's the question, whether what has happened in all other cases, and sounds complicated but it is not. usually the longer term bond, the bigger yields you get but in this case it is the opposite and the 10 year yield is 3. 92 if you put your money and that but the two year yield is 4.93, that is up over one day and i have some of my savings and there. you can't lose. >> it is because of the short-term nature of this debt on this yield curve. the thing is every time the yield curve is inverted except for one time, it led to recession.

this is a big inversion. dave: what is that? one time? >> 90s. around the long-term -- dave: 80 one preceded one of the biggest recessions i have ever seen. >> the time it didn't lead to recession it was something else as essential. it wasn't the fed tightening. 75% of the time that leads to a recession. that is what we are dealing with. what happens is a mechanical thing. you can put the debt into circulation when you added to the money supply and take the liquidity, the money out. you can't take the debt out. what happens when you drain the liquidity which is what the fed is doing by tightening, a threshold where it starts to threaten debt service and the difference between a soft landing, it has been hard, the silicon valley banking situation, is whether you hit a threshold where we have a credit situation in the economy.

dave: the key is nobody knows when there's going to be a recession. six months ago everyone said it was definitely going to happen, 90% of the wall street journal economists saying that. now it's less. with all the uncertainty, what's wrong with taking out of two year treasury, almost 5% just under 5% interest rates, you can't lose. >> that the safest thing to do, you are not locking your money up very long and trading bonds, this is why the bonds on silicon valley banking sheet and the other banking sheets are locking in these losses even though they are aaa rated. the yields have changed so fast that the time to maturity, haven't had time to adjust to that. those bonds are upside down. the two year, you don't have that problem. dave: is there any stock that you would be willing to gamble on despite the fact you could have a guaranteed 5%?

>> i would be buying things that sold off ahead of coming into the second half of the year. as we continue to tighten, credit risk increases and the things that do well when growth and inflation are generally decelerated, gold and duration and things like that. yields, particularly if the 10 year has made a higher climb since october. i think the yields are going to go down. a big threshold. dave: great to see you. appreciate it. the battle between elon musk and mark zuckerberg is making its way out of the cage. meta planning to release and apps called threads that will happen this week. analysts say it could be a tough competitor for twitter. cio and fox news contributor scott martin is here to tell us who is going to win. i won't go that far but it is a great boxing match if you put them together. i wouldn't count either of

these out. would you? >> maybe it will be a draw. we will see what the oddsmakers say about it. boxing and ufc, they have classes to level off, not give somebody a bigger win advantage. the actual advantage in the fight. interesting to see how that works out if there's hand-to-hand combat given zuckerberg is giving up 30 to 40 pounds at least on a good day and when it comes to the fact that facebook has so many active users than twitter does these days. dave: elon has kicked off a lot of free riders on twitter by pulling the freebies they were getting, get all these freebies if you get $8 a month. does that work to his advantage? >> it may. the other thing that elon has done for twitter in that respect is cleaned it up. he's been in a more optimized platform versus facebook which

is a little bit clumpy i guess. depending on what he releases with regards to the application and what elon does in response. elon has been doing a lot of what twitter's work needs to be done over the years, finally realized he has to execute on. we are talking a dead heat race here. don't forget folks like social media platforms. they like the exposure across multiple platforms. maybe you will find them choosing both. dave: then there's the ideological split. elon clearly closed down a form of censorship the government was involved with. even a judge just realized that. zuck left the fbi in. in zuckerberg's favor, some of the censorship on facebook was a big mistake but he did let the sensors in whereas elon

came in saying get out. >> he did. over the last few years when zuck has got to congress and laid out the intricacies of facebook and the things you just mentioned with regard to elon musk, there's all the more, standoffish, right-leaning when it comes to those exposures you mentioned. there is the give and take with regards to the government on both sides but also the platforms that are accelerating with respect to what they are delivering to the end user and that is something both take advantage of here. dave: what a pleasure to see you. say hi to your wonderful family for me. wouldn't it be great if there was an actual fight? i don't think so. they could have fun with that. see you, scott. let's check in with brian brumberg and see what is coming up on "the big money show" in 15 minutes. i stood in for you. it is a tough crowd you've got. brian: you were great. walking back, we've got a chore.

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dave: riots are sweeping all over france following the police killing of a teenager. some say this could have been done before the killing. tiana of the washington examiner joins me to discuss the latest. great to see you. it looks a lot like what happened in the united states after george floyd. the financial times had a headline, france's george floyd moment. what is going on? >> reporter: $1 billion in economic damage has been wrought.

thousands of cars destroyed, 700 officers injured as a result of this. unlike george floyd's family, the family of the victim of the police killing that triggered this they openly called for a revolution on tiktok. there has been some stoking of violence. it isn't politically aligned. it is lined by age. the average age of those arresting is 17. some as young as 13. dave: 17 was the age of the young man who was killed. i don't think he was accused or convicted of criminal crimes over there. he was up to a lot of no good according to a police rap sheet and driving around in a $70,000 mercedes-benz with polish license plates. the pullover was warranted. what was not warranted was the shooting.

nobody should be killed even if he has stolen a car. it is impossible to rationalize. >> reporter: the police are allowed to deploy lethal force and firearms in case someone during a traffic stop, in this case the police allege the boy, he was a minor, wouldn't stop the car. it was a matter of them trying to stop him. whether or not that is justified is the question. the french have repeatedly tried to reform the police, like the us, sort of a slow burn. this winds up being a conflagration. these are the suburbs outside of a major city like paris. they are heavily occupied by not just immigrants but also second and third generation primarily north african muslims who do not have the same assimilation as american immigrants have.

the french have this policy of complete secular society. the same way people openly wear crosses on their jobs here, they don't have that. that assimilation process, much more difficult. dave: when you think of what is happening in the united states, a lot of the rap against the migrants in europe is they are going to welfare states, to take advantage of the welfare benefits they get. some people say the same happening with the new wave of migrants from the south, the united states's intersection on a welfare state in itself that people are coming here expecting to get free food and everything else. >> especially on a state level a lot of these benefits are nonfungible. you don't have to be a citizen, don't have to pay taxes to receive a lot of the state bonds. take a state like california where you can do that without

being a citizen. that's taxpayer-funded. you don't have to be paying into that system to be a citizen. in france they are testing the experiment of can you have a welfare state and open borders? even though the french tried to crack down on immigration in the last we 10 years, prior to that it was very high and because france, in the eu, any citizen, any travelers from other countries without having to go through passport control. this is going to be a bigger problem across the western world as we have this demographic decline. dave: well -- >> how workers fund that system. dave: the message we take from what is happening over there is the melting pot is a much better solution, melting pot of assimilation, balkanization of the migrants. we got to leave it at that. great to see you. thanks for being here, appreciate it. breaking news, ups stock taking a hit as the company and the

international teamsters say negotiations have stalled on a new labor contract, 330,000 package delivery drivers go on strike next month. on wednesday, each accusing the other of walking away from contract talks that have been underway since may. the teamsters represented workers voted to authorize a strike of an agreement is not reached, the current deal expires the 30 first of this month. coming up, a school of 50 sharks closing down a long island beach on 4 july, just 200 yards offshore. that's not the worst of it. a lot report coming up from the shore next.

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your free hearing evaluation today. dave: summer in full swing. so are sharks. at robert moses beach on long island with more. >> reporter: sharks are swimming closer to the shore than ever before. this is the new normal according to experts was a part of 50 sand tiger sharks was spotted by surveillance at 8 a.m. fourth of july morning. 200 yards offshore at a long island beach. swimmers were not allowed in the water for an hour and a half. since july 3rd a total of five swimmers have reported being bitten.

the bikes leaving behind wounds on people's feet, thighs, knees, hands but all were non-life-threatening injuries. look at this video out of florida. a shark was spotted at a pensacola beach dangerously close to swimmers who started rushing to shore. here is how you can avoid being mistaken for food. >> swimmers should only swim in lifeguard protected areas. don't go into murky waters and do not go into areas that have dolphins or other marine life. >> reporter: state wide, not only using drones but jet skis to survey the water. dave: thank you. sorry we had trouble with your connection but it is a scary situation. that does it for us on coast-to-coast. "the big money show" is here to take you. taken away. brian: better stay out of the water. looks a little dicey. dave: i have a home in the cape. we are used to sharks. brian: i'm brian brenberg. jackie: i'm jackie deangelis.