mama has her thumbnails out. >> michael and brett thank you so much. >> from the fox studios in new york city. this is "maria bartiromo wall street". >> welcome to the program that analyzes the week that was in helps positioning for the week ahead. i am jackie deangelis and for

maria bartiromo. a threat to the national security half of all american states now blasting the biden administration green energy push as unlawful, unwise and unsustainable as president biden is pushing his plans on the campaign intro. >> this is another step in helping us meet the goal of 100% clean renewable energy electricity by 2035. by 2035 all electricity in america will be generated by clean energy. that is a big deal. >> a letter signed by 25 states, attorney general, ataxia vehicle admission targets and they say this will couple the u.s. economy, undermine grid reliability and pose a threat to our national security. this is a study by the auto workers estimates that the shift to electric vehicles could cost the industry to 5000 jobs. window manufacturers have also been left in the destructive

weight of biden's green agenda for the wall street journal op-ed highlighting how the windfarms rush to capitalize on subsidies have caused them to neglect product quality that could now cost up to $1.7 billion in needed repairs, joining us from the house energy in congress committee, congresswoman kat chemic, it's great to have you on the program thank you for being here. president biden is hitting the road and he's touting bidenomics and touting the spending say he wants to spend more and a lot of that is on the green agenda that he has been pushing since day one but many have criticized because this destructive and he said it will add jobs that we haven't seen come to for wishing just yet. your thoughts on where we stand to a half years into the green energy push? >> any industry that is required to be subsidized by the american taxpayers in perpetuity is not

sustainable. it flies in the face of what they call sustainability as they push for the green new deal agenda across the country. as we've seen biden economics is all about paycheck to paycheck or paycheck to wednesday or borrowing the rest and that leaving us. the whole green new deal push is about dependency and control not about sound economic policy were promoting the environment. we know the cars on the road now, the electric vehicles we need 300 new mines to get the critical minerals necessary to produce the batteries and we were releasing across the country that the subsidized investments have gone belly up because they're not sustainable. nevermind the fact that these cars are very expensive at a time when people are hurting they cannot afford them. we as americans can no longer subsidize an industry that is not economically viable that's

why the government needs to step back and let the private sector do its thing and that's what we will see true innovation and development in that is truly invested in america. jackie: critics have argued you can set green goals for the future that we can work on as a country. we are some of the world's best innovators, they are right here in the united states. having said that you can't just flip a switch and go green, many would argue to some points that the president is playing into the hands of china right now at a time where foreign-policy is weak and china is gaining a foothold on the global stage, this is very dangerous. >> absolutely what we see that the biden administration is a push that consequences bdm when it comes to the economy and are going to move forward with the climate initiatives. meanwhile those of us with common sense no that that does not make sense for the environment. because we are driving so much of the manufacturing overseas to countries that have no regard

for admissions and for the environment, china, venezuela, iran, russia for example. these countries have not even a clue when it comes to sound environmental policy. so you have the subsidize industries that are going belly up. we gave nine-point to billion dollars to four and the laying off a thousand jobs. we've given countless subsidies to solar which is a great example and government investment, that's why i continue to say if we get government out of the way business, the innovators will do what they do best, they will create jobs and grow an entire new industry in this space but they can't do it with regulators breathing down their neck and government subsidizing the competitors and pushing manufacturing offshore. >> you bring up an important point, job creation within that sector. he promised he would create

green jobs to replace the jobs that were being lost and were not seen that replacement happen even though he loves to run a rounded top the fact that he created 12 million jobs the bulk of those were jobs that came back post pandemic. while i have viewed fbi director christopher wray is set to testify in front of the house judiciary next wednesday over a political biased while investigating and prosecuting republicans, gop lawmakers calling for the director's resignation. this is coming as house speaker kevin mccarthy is threatening to open an impeachment inquiry into attorney general merrick garland in the justice department's handling of hunter biden. do you agree with mccarthy's threat and what you want to hear from christopher wray on wednesday. >> i agree wholeheartedly with speaker mccarthy, we see the weaponize d.o.j. and fbi like never before. when we have whistleblowers coming before our weaponization committee and they tell us they

will destroy your life if you speak out and if you disagree with the political agenda of the biden administration it will come after you and your family and we seen it play out, targeted parents taking down their license plates numbers and parking lots and placing informants and catholic churches. we seen the coronation in the social media companies in the administration to suppress our first amendment rights. the weaponization of government today is very real. what i expect is christopher wray to deflect and dodge real questions. i have long said the entertainment area that we are living in today that comes to political theater is more harmful than good but what we need to be getting to the bottom of is why we are seeing this weaponize fbi. why the political agenda has superseded truth. why they continue to perpetuate the two-tier justice system.

why will they not go after the true criminals but instead target american citizens. in the end the american people will see how the weaponization is impacting them every single day and they will get behind republicans and our calls for christopher wray to step down. >> these are great questions that the american people want answers to as well, great to see you. thank you so much. >> thank you so much, have a great weekend. jackie: this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.

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jackie: here's a look at where markets ended the week after we got a weaker jobs report 209,000 jobs added in june it was slightly lower than expectation and the lowest since december of 2020 with april and may revise lower as well, then appointment

3.6%, president biden hitting the campaign trail to tout bidenomics. >> the talk about the progress in the ability of the academy middle out in the bottom up not trickling down. our plan is working in one of the things i'm proud it's working everywhere not just in the coast in big cities like previous recoveries, this time investment is working in factories being built in jobs being created and happening in rural america with the heartland all across america. jackie: joining me now former ck eve restaurant ceo andy puzder and former trump economic advisor dean moore. you both wrote up beds this week on bidenomics. let me start with you, the president said jobs are being created that while jobs are being created this was a softer number than expected it is the labor market that has been holding this administration and economic policies up right now. is this a sign that things are starting to crack.

>> it was a disappointing number, no question about it we were expecting 100, 150,000 more jobs. it was disappointing and you made the point that the previous months had been revised downward by 100,000. the number was weak but the good news for workers, the job market is very strong we have 10 million job openings according to the labor department and 5 million people looking for jobs, jobs are out there but the economy is softening and i'm not buying the idea that this is a good economy for the middle class when in fact biden spending policies the average family has lost $4000 of income. jackie: that is a great point. it was president biden $6 trillion in spending that led to a record 9.1% inflation. we are still dealing with 4% inflation right now. when you dig into the numbers a

little bit you start to see where the strength was, government added 60000 jobs, professional and business services added jobs and we see more leisure and hospitality coming back, this is a post pandemic trend and something you're familiar with. are we seen what we want to see when we break down where the jobs are right now? >> no if the government is creating a very significant portion of the jobs and they have been averaging 62000 jobs a month throughout this year there were not seen growth. i wonder if the 209,000 job number is anywhere near realistic, we seen for the past five months that the initial number has been revised down in subsequent months and it has been revised that a little for 8% as much as 20% from where they initially came out with these numbers. i don't think were seen jobs go where they need to go in there certainly not going to the lower

income workers in the people that are really suffering from this inflation bench from the obama administration. it is a regressive tax inflation so it really hits families that you have the least get hit the most by this tax and were not seen the kind of job growth and wage growth we would like to see at that level. jackie: steve can i come back on the details labor force participation has an impact on the headline number for the employment rate which was 3.6% in the participation rate is 62.6% it is up slightly and people are returning to work in speaking on a long-term basis that is a low participation rate. you want to see more people working three years after pandemic. >> you better believe it. that is my major concern right now, as i mentioned earlier there are jobs out there, there are to be americans on the sideline that are sitting on the

couch or for one reason or another are not working and should be working and part of that is my opinion that we are still providing record high government benefits to people who are not working which doesn't make a lot of sense, why are we paying people all this money when you have a hot labor market and people could be working i think that should be a high priority for the biden administration interpublic policy officials brought the country in the states as well to get people back working not only is it good for the u.s. economy it's good for them dignity and people are healthier and happier with their working we have to get back to the work ethic. >> i want to talk a little bit about wages real wages have been down in the sticky inflation that we see the dichotomy that's a serious problem for consumers and american families what we saw in this report is wage growth was 4.4% year-over-year, higher-than-expected and inflation is standing at the

last report at 4%. that's a positive sign for the earner go greedy thing about the businesses paying the higher wages and that too is inflationary this is almost a circular not a situation that is resolved by raising wages. pardon me. >> what you want to have what you had during the trump administration. inflation around 2% which is the feds target in the inflation going up to present the last two months have been the only two months since march of 2021 after president obama took office. where wages have slightly exceeded the inflation rate and when wages are at the level of inflation or below the level inflation which they have been consistently than american workers are getting hurt and we are seeing a lot more of that

impact in an impact where wages are significantly above the inflation rate and wage increases do add to inflation which again increases costs for employees and employers and hurts people that have the least amount of money the most. we are not see the improvement that we need to see with the numbers. they were disappointing and if you look at the underlying numbers, labor participation has been 62.6% 62.6% over the last two months. if it were where were prior to the pandemic we will be looking at unemployment around 5% so labor participation, people not in the labor market is making biden look much better than he actually is. >> andy puzder, steve moore great to see you both and get your insight. >> thank you jackie. >> treasury secretary janet yellen in china for a high-stakes meeting but who is benefiting from the talks and

amid growing tensions with beijing and moscow is the military prepared to go into battle lieutenant general keith kellogg on the

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communication when secretary of state lincoln was there a couple weeks ago. who benefits more from these trips u.s. or china? >> thank you for having me. when we look what happened was secretary bloodgood when he went to china and when we look secretary of defense lloyd lloyd austin went to singapore and was totally snubbed by their secretary defensively and then you see jane janet yellen it's a little bit late in the game for trade policies with china, you're sending treasury to the secretary. i'm wondering if the u.s. trade representative the ustr, kathleen titus who is in mexico right now, when you go back to look at who is doing trade discussion it falls on the ustr that goes back to the trade of 1974, section 301. the u.s. trade representatives

with trade representatives with foreign nation, janet yellen says she doesn't believe in decoupling from the chinese economy. last year we had a $382 billion trade deficit with china. unless she has a plan to economically go against the chinese and figure how to bring those jobs back maybe necessarily bringing the decoupling jobs back to america. i don't know what she's going to do i don't know the game plan with a plan at all for diplomatic economic or military relations with china but we seem to be behind the curve and her going there may be as good optics but i just don't see the results coming out of it. >> the optics were good for the anthony blinken visit and possibly this visit as well but there is no concrete stance. this is the situation is getting workstream also as we watched china looking at taiwan very closely. i want to switch gears, defense secretary lloyd austin marked the 50th anniversary of america's all volunteer military force as many high-ranking officials are warning of a

crisis. leaders from the army, the navy, the air force saying they expected mr. annual recruiting goal by thousands this is coming despite offering enlistment bonuses of up to $50000. how concerned are you that is becoming difficult to recruit? >> i'm very concerned. all the three services except for the marine corps they all missed the recruiting goals and miss them last year as well, here is something to remember 80% of those who come into the military today have some family relation their fathers, mothers, aunts, uncles were in the military and the law are being turned off by that and is primarily because the military is not like it used to be, woke nist has gone to the top i don't care what any military leaders say it is there in the primary goal to deter and fight our nation's wars if deterrence fails to give you personal

example my son a west point graduate years in the military served in combat afghanistan had to company command tours, eight years said dad i am done. i've seen that with a lot of my friends as well. the young men and women in the military today are basically saying it is not the military is not set up to fight like it's supposed to and i don't see how you can get people to come into the military if you have a lot of people like me were 80% who bringing kids in the military say i don't think it's a good idea, think hard before you do it. i think they have a recruiting crisis that is not going into the near-term until they figure out what direction the military is going to go and i think they have to go back to the were fighting ideals and the challenge for the young men and women coming in and they're not there at all. it's a major concern and should be for all americans. jackie: back to basics and it always usually works is a story we will continue to watch thanks keith kellogg. thank you so much. ♪

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jackie: one thing you need to know ahead of next week stamp prices are on the rise for a second time this year starting sunday it will cost 66 cents for one first class forever stamp. the post office blaming the hike on a surgeon operating expenses field by inflation. january of this year the price climbed from 60 to 63 cents and when biden took office in january of 2021 the price of one forever stamp was just 55 cents. go out, buy some stamps before sunday. that will do it for us, think of for watching and have a great weekend. >> "barron's roundtable" sponsored by global x etf ♪ ♪