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tv   Varney Company  FOX Business  July 13, 2023 10:00am-11:00am EDT

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♪ ♪ ashley: adele whistling, that's the empire state building on friday morning, midtown manhattan. it is 10:00 eastern.
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i am ashley webster in for stuart varney. let's get straight to your money. markets move higher, the least inflation reading on the producer side showed it is easing off as well. markets like it, the nasdaq up 1%, the dow up one third, the s&p up half, look at the 10 year treasury yield, that in turn has been dropping well below the 4% level% level, 3.81%, down 5 basis points. look at the price of oil, oil is up ever so slightly, $0.50 or so, $76.27 a barrel, bitcoin was moving higher, up about $103, now up $300. bitcoin at 30,672. that's the markets, now this. fbi director christopher ray was grilled on capitol hill yesterday but refused to answer
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questions whether president biden is being investigated. >> the ongoing investigation being led by the us attorney in delaware, appointed by donald trump in the last administration at baltimore field offices working with, i will refer you to him as to what if anything -- >> the president is under investigation? >> i'm not going to confirm or speak to who is or isn't under investigation for what. >> is not under investigation? >> i didn't say that either. ashley: he is not going to answer the question. take a look at this headline that says, quote, biden is doing the crimes but not the time. i read the article and i was staggered at the long list of run ins with the law the biden family has had. i tell everyone go find that
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article, they will be shocked. why won't the bidens be investigated? >> they have a nice protective bubble around them called the fbi, the permit of justice, federal bureaucracy, the reason is biden it has been a creature of washington since 1973, has been there nonstop and we know about hunter biden mother disparate treatment biden has gotten versus trump, we remember the raid on mar-a-lago, guys going to mar-a-lago to look for the mishandled documents. and biden's case his lawyers are allowed to go inside and go through the documents, this is classified, that's not classified, that doesn't bother us, that was different treatment and look at the biden crime family, this is based on a piece in the new york post it is a great job looking at hunter biden in the first daughter, the first brother, the first niece and other folks with multiple run ins with the
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deal are ranging from driving under the influence, driving into a tree, driving with a suspended license, walking out of a blockbuster store, frank, the president's brother with two dvds doctor his pants. what happens is they get probation or rehab or some special program or special treatment and it seems the bidens don't face any consequences for their crimes. it is astonishing. ashley: other citizens convicted of the same crimes don't get off. >> they don't. look at hunter biden. is charged with, going to plead july 26th play 26 play to a couple misdemeanors for not paying his taxes. wesley snipes would like to have the same deal hunter biden is getting and then the situation where he lied on a gun application saying he's not a drug addict when in effect he was. he put a false social security
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number on his gun application, did 46 month in jail for that. we have a two tier justice system. i call it the heaven health system, heaven for democrats, helpful republicans. part of the favored leading washington dc. the bidens are great beneficiaries of this two tier justice system. ashley: by the way biden made a mother gaff. he was speaking on the world stage this week, watch this and i will get your comment. >> president biden: vladimir and i, shouldn't be so familiar. mister zelenskyy and i talked about the kind of guarantees we could make in the meantime. >> withdrawing his forces from ukraine, recognizing international borders and seizing his attacks, inhumane attacks on -- by russia on ukraine. ashley: it's difficult to watch. okay, when we get older
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retarder to speak perhaps but he' s the leader of the free world. he is the president of the united states. what message does it send? >> it should be clear who is attacking home in this conflict. the attack was from russia on ukraine, not the other way around and i was concerned about the fact, he had dinner with other nato leaders, the third major dinner with overseas leaders he skipped, said he had to work on his speech, delivered the speech not all that well. we need a president was awake, alert, energetic and ready to defend the united states omma president biden is not doing the job as far as that goes. ashley: he is not. terrific stuff as always, thank you for joining us today, thank you. let's get to the markets, moving higher. investors like the fact that inflation now seems to be using up. on the producer side we had less inflation to talk about on
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cpi yesterday, the market is responding, up across the board. let's bring in gary, inflation is slowing in the market is taking off. are we getting ahead of ourselves or are we in a. phase? >> the only tenant -- sentiment is off the charts extremely bullish with some -- sometimes leads to pullbacks but i can tell you this is the best market i've seen in a long time and this is how it happened, we were very narrow markets to the upside, may 20 fifth was nvidia day were a bunch of other techs started to kick into gear, june 2nd, put out the note the broad market came out of its coma and you have a vertical moves on airlines and cruise lines and industrial types and now you have the dollar sinking, pretty big-time because of the lower inflation and that left emerging markets,
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china has been dead, that's picking up. we have a broad market move and short-term i think we can pull back, it's getting a little overheated but the technical condition looks pretty good. ashley: i am liking this. there's a ton of money on the sidelines. i want to get to your favorite subject, the fed. the former director of new york fed reserve expect the fed to raise rates later this month, 90%, he says that could the it, won and done. do you think that is the case? >> they don't stop talking, they change their mind every other week but they telegraphed another rate hike, maybe a second one. i have been saying all along, watch the 10 year yield. if it keeps going up bad, if it starts to come down good. in the last week it went to the
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highs of a few months ago and tanked off of these inflation numbers. that is some good news and hopefully keeps coming down. that is the fed, that is what the market's reaction to at this point and will now we deal with the next big thing, earnings. we start with financials tomorrow and then get a few thousand over the next couple weeks and i will sit back and look for companies that are blowing away wall street estimates, gaping up on big volume, telling me there businesses are sound and strong, that will give them more for the next quarter and things like when you hear delta beating the number by a wide margin those are the things i'm looking for. ashley: any company i could get out of you? >> it's not one, it is dozens that are hitting my screen. and housing related, semiconductors, tech, and in the last few days, the smaller
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stocks have started to kick into gear. a lot of names down 70%, 80% from the last two years are breaking into new yearly highs, watching those very closely. ashley: you are pumped and up for it this morning. i love your enthusiasm and i feel better about things. you are making me feel pretty good about things. thank you so much. that's bring in lahren. thank you. you are looking at some of the movers. let's begin with amazon up 2%. lauren: there two day prime event ran up a record $12.7 billion in sales omma 6. one% growth from last year is pretty good. pull-up meta, higher by 1%, look at those numbers from amazon, insane. for meta, upgrading to outperform, price target is 345 up from 220, at dollars flowing
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because of monetization coming from threads. morgan stanley, 350 a share on meta. some bad news, progressive, the car insurance people, swung to a second quarter profit but that missed estimates, the stock is getting punished to the tune of 9%. car insurance is getting more expensive. net premiums up 19% in the quarter but fixing cars is more expensive too. ashley: did lauren simonetti add to amazon's profits over the last two days? lauren: i only bought two things, a brush and what was the other thing? a frying pan. nothing fancy and you? ashley: nothing exciting. i looked at a lot of the upfront things but couldn't pull the trigger. well done. let's move on to united airlines, this is interesting.
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the airline updating some of their seats for the first time in a decade. do we know what they will look like? lauren: first class seats are really wide with a barrier between them. the partition, it looks almost blue in that picture, that's my favorite part, don't bother me. this is my space. wireless charging every armrest, more comfortable hand rests. a personal television. united is putting these onto hundred of their planes and it starts this month. also delta just told us more passengers are saying we will fly first class. we know it's going to be expensive. ashley: exactly, very good, thank you so much. president biden taking a victory lap on the cooling inflation, he says the latest data proves bidenomics's working. does kevin o'leary think it is working. we will ask him in the next hour. not everyone is thrilled over the new barbie movie, some
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lawmakers blasting the film for appeasing china. this as the house prepares to hold a hearing on the dangers of doing business with beijing. aishah hasnie has that report plus chinese hackers breached e-mails of two government agencies. they even got access to us commerce secretary gina romano's e-mails. senator marsha blackburn is demanding answers and she joins me next. ♪ ♪ it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. ditch credit card fees and high interest. borrow up to $100k. sofi. get your money right. with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity,
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ashley: look at these markets another day of gains, the nasdaq up one%, s&p up half of 1%. slowing inflation, giving confidence to investors. now this. the new barbie movie is upsetting some lawmakers on capitol hill. aishah hasnie joins me with this story. what is bugging them. >> reporter: it is all surrounding map that depicts the south china sea and some call this map cartoonish. others are saying it's clearly political. look for your self and see what you think. this is a scene in the new barbie movie where she is standing in front of this world map which appears to be through the 9-line. this line represents beijing absolute judgment claim to almost all the south china sea so something the us is not okay with. vietnam has artie banned the film from playing in that
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country because of this controversy, china hawks on capitol hill say this is typical hollywood kowtowing to beijing. >> all these instances of hollywood self-centering or censoring to get access to the chinese market and out of fear that their studios will be blacklisted by the chinese communist party. >> reporter: not everybody agrees with that. warner bros. is saying the map was never meant to make a political statement and the philippines is now allowing the movie to be played there although it does want the map blurred out. even progressive representative maxwell frost is pushing back on all the criticism asking tongue in cheek of the barbie movie is perhaps just too woke for the gop but the verdict just still out on the controversy couldn't come at a more perfect time. the new subcommittee on competition with china holding a primetime hearing on exactly this topic which is us
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companies doing business with china. we will see if barbie comes up. ashley: she is getting lots of publicity, no doubt about that. thank you, interesting stuff. newly discovered chinese hacking campaign has breached the emails of gina romano and senior officials at the state department. senator marsha blackburn, republican from tennessee joins me now. great to see you, senator. my first question is how can something like this happen? >> it is happening because our guard is down, beijing is very aggressive. they are working at every angle they can exploit to push toward their goal of global dominance by the mid-point of the century. they want this century to be the china century.
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they know president biden is week. they are acting as if they think he is compromised. they are pushing the barriers as much as they can. same as with the child, they are going to test you until you calm down. the ccp knew that they could not get away with this with donald trump, but they know that they are not going to get any pushback from president biden, so they are going to keep pushing forward and trying to really use this as a free, clear runway while president biden is in office. ashley: you are asking the fbi and doj for more information about chinese surveillance, what are you looking for? >> what we are looking at, several of our centers have joined me in this, we have
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written to the fbi about the service centers that the chinese communist party has put in place as part of their soft propaganda. supposedly they are cultural centers to assist chinese citizens in the us and to assist people chinese descent. what we have found out is these 7 centers are being used to survey all chinese on us soil and to survey all individuals that are of chinese descent so just as we had issues with sister city programs and confucius institutes, now we find out not only is china spying through a spy balloon and setting up a facility in cuba but they have actually set up 7 facilities in 7 cities on us soil. ashley: you have been pressing president biden's judicial nominee about his involvement
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in censoring the hunter biden laptop store. he was deputy chief of staff in 2,020 when the story first broke. did he tell you anything? what did you get out of that? >> he was refusing to answer the questions i was asking him. i wanted to know what his participation was in memos and writings in the mails, phone conversations when it came to dealing with biden inc. with the 2020 election that took place on his watch when he was there he refused to come forward so we submitted it for questions, for response in writing because we need to find out who participated in this hoax that was carried out against donald trump. you have someone wanting to go to the federal bench, a
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lifetime appointment, they will not while under oath, will not give you any information what their participation was during all of this, with the election, with hunter biden, with this laptop, with biden inc. . that is irresponsible. we are looking forward to the answers. ashley: very good. as always, great to chat with you senator marsha blackburn, republican from tennessee. president biden's approval rating continues to fall towards record lows. where is it now? lauren: 40%, that's the latest from reuters, the record low for the president was last may when it was 36%. right now in this paul voters say the top issue for them is the economy, president biden is doing his bidenomics tour, as
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approval rating falling, 40 one% in june, 40% now. we have another paul from the economist thomas 61% of voters believe president biden is not the strongest democratic candidate, 53%, neither is trump for the gop. we've been talking about this, new blood is want on both sides. ashley: thank you very much. a new study found students need an additional four months of learning in reading and math to catch up to pre-pandemic levels. i the teachers unions to blame? more than 60% of new yorkers are worried they will become a victim of crime. this as gunshots are seeing a spike in firearm purchases but alexis mcadams will have the full story next. ♪
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momentum, dow up 12:45%, the nasdaq and s&p moving higher. it is all on the fact that inflation appears to be cooling off on the consumer and producer level. you are looking at the other movers. let's begin without about/google. lauren: adding new features to guard their chat bot. the image i find helpful, sometimes you have a great picture, it can help your provide information about an image and google tells us users can collaborate in 40 languages, microsoft increase the price target to $150. virgin galactic. ashley: virgin galactic. ashley: they are on track for the second commercial one to happen with the goal taking those in the backlog to the edge of space. it is up 3%.
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ashley: they are down. ashley: lauren: you have a conference call going on, the earnings call. the ceo sees a significant gap between supply and demand, interpretation, headaches, delays, this is a great report card, profits up 80%, demand is huge but they don't have the staffing that is needed. ashley: they do not. fun at the airport, thank you very much. a new study found students with need, four months of instruction in reading and math just to catch up to pre-pandemic levels. terry schilling is president of the american principles project. great to see you this morning.
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who do you blame for this? the teachers union shutting down schools, is that the reason for the huge lapse in learning? >> reporter: i agree with that. if you look at the numbers, 200 million years with the american federation of teachers spends every year advocating and lobbying legislators to increase spending and pushing parents out of the way. the good news is these kids that are failing will make a great part and fit in well with the biden administration. they will hard time cutting anywhere else. this is a five alarm fire. these teachers should not be cutting out parents but bringing them into the fold, any help they can get. ashley: they were called domestic terrorists when they spoke out in the bill of the pandemic. you pulled your 6 children from
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public school in fairfax county, virginia. since you have done that have you seen their learning improve? >> infinitely. on top of that, not only are they brighter and smarter but asking more questions, more curious, have more friends. they are happier children. in fairfax county, virginia they spent $19,000 a year in the public school system. 32% of fourth-graders can read at grade level. that's a failure and there needs to be real consequences and we need the federal government to take care of these people. they are failing us across the board. ashley: they are, you are right. americans confidence in higher education fell to 36% from 57% in 2015. what do you think is to blame for that downtrend?
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>> having conversations, knowing kids with college degrees, they are arrogant, they know much less than previous generations do. i have a father in law who graduated eighth grade and is smarter than even kids with masters degrees today. there is this arrogance, lack of knowledge, they go to get indoctrinated and get certificates to get a good paying job. the problem is that's not working out anymore. people don't get good jobs after school. it's a disaster. the american people are seeing it for what it is regardless what the corporate media and cnn and msnbc say about it. ashley: back to this issue of do you think we have reached the tipping point, that parents are feeling emboldened, they saw what happened during the pandemic, not happy with what public schools are providing and going to be hurt. you are a prime example of this, do you think it's a momentum building across the country?
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>> the momentum is there. there is a movement for the taking. what they need is political leaders that will champion them, pass laws and change policies to fix the education system. that will be determined in the 24 election with donald trump and ron desantis and the debate going on, we need them to champion these parents and lead this movement. ashley: it happens at the ballot box, thanks for joining us, great discussion. really appreciate it. now this story. nuns for liberty chat in florida scored a major victory this week. what happened? lauren: they had five books removed from two high schools in leon county, florida. the books were about rape, incest, pedophilia, beastie avenue. there was a review process that found all five books out of
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compliance with the state standards. you are looking at push, the story about incest between father and his daughter. moms for the but he says this is not okay. ashley: i would tend to agree. now this. we told you how major cities are grappling with rampant crime. a new poll shows 60% of new yorkers fear they will become a victim of crime. they are taking matters into their own hands. alexis mcadams joins me now. what are people doing to feel safer in cities? >> reporter: people we talked to in new york according to this paul say they are doing everything from buying guns to tasers and other weapons to feel safe but if you ask the mayor of new york city he says the media, that is not helping. >> think about it. how do they start their day?
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picking up the news, the morning papers, the most horrific events that may happen throughout the previous day. it plays on your psyche. >> reporter: four people including two young brothers were shot in the bronx. investigators are looking for two gunmen who opened fire into a crowd at a park shooting a 3-year-old boy and a 6-year-old brother in the leg. according to the nypd overall crime in new york is down across the city but the new paul we are talking about says new yorkers don't feel that way. siena college research institute found 80% of people in new york state say crime is a serious problem, 60 one% worry they will become a victim themselves and it is not just in the big apple which is no surprise. in chicago two thirds say they don't feel safe, 65% are concerned they will be a victim of crime. we checked in with the owner of one of the nation's largest privately owned gun tours and
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he saw an uptick in the number of women, elderly and urban residents coming in to purchase handguns. >> can't run, can't fight, what options do they have? self-defense knows no political bounds. everyone wants to protect their families. >> reporter: in manhattan the district attorney alvin bragg says he gets are not in his stomach when his family members have to get subway to take a ride. if he feels that way imagine how other people feel across the city. ashley: maybe he should do something about it. thank you for all that. now this. do you know what ai means? the vice president has you covered. role it. >> the first part of this issue that should be articulated is ai is a fancy name, it's two letters, it means artificial intelligence. ashley: it is two letters. we will play the full cringe
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worthy clip coming up. elon musk launches his own artificial intelligence company despite warning about the dangers of ai. kelly o'grady will have the details on musk's latest next. ♪ ♪
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featuring a robust growth strategy. aims to double their mining capacity. all using low-cost green energy. hive blockchain technologies. ashley: let's take a look at these markets, the dow jones up 12:45%, nasdaq up one%, the s&p also a path of one%, lower inflation. can we pull up nvidia, the chipmaker if we can, hitting all-time high, up another 2%. right now it stands at $447.70 per share.
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having a great day. now this. vice president kamala harris once again turning heads with her latest word salad. what is she saying now? >> i'm not going to call this word salad. i'm going to college i will figure out the word in a second but i felt she was talking to a group of first-graders when she was talking to a group of adults who were experts in their field and she was talking about artificial intelligence. listen. >> ai is a fancy thing, it's two letters, it means artificial intelligence. but ultimately what it is is it is about machine learning. the machine is taught and part of the issue here is what information is going into the machine. lauren: a little bit of a word salad. it was derogatory in a sense. a fancy new thing called ai,
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two letters, like they were living under a rock. right? the tone of her voice. ashley: we've got news to get to. thank you very much. elon musk is launching a new company. he does it all the time. is jumping into the ai race. kelly o'grady joins me, my question is how is this different from other ai companies? >> reporter: it is pretty vague. we can expect a broad picture than we have seen in the past. 's new has new company is called xai. what are the most fundamental unanswered questions? the goal is to understand reality, which is ironic given that it is artificial intelligence. they put out chat bots but musk
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emphasized how critical a i will be across is different businesses, total, space x, twitter, you could have ai deployed as a self driving car intel and content moderator at twitter, very different applications. it is a surprise. he has been a prominent voice warning we need to pause ai develop and. last night he addressed the switch. >> if i could press pause on ai or advanced ai systems i would. it doesn't seem like that is realistic. >> reporter: this comes with fear growing around this space on the impact for jobs and a number of predictions, i want to share this new number with
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you, we focused on finance and accounting roles. middle school workers most at risk, like construction. something i will end on is the challenge of regulation, they are investigating open ai, the space is developing, giving oversight. ashley: thank you very much. what's this about artificial intelligence helping fertility? ashley: an israeli company has software that will help parents select the best embryos for their treatments. there algorithms see better than the human eye, a human making a final decision. one in five women undergoing ibf, $12,000 plus per session.
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with the help of machines. ashley: couldn't agree more. take a look at this. article by vanity fair claims president biden seems healthier than donald trump. we will try to explain that. not sure we can. from georgia, left her party for the gop. she says it was the democrats who abandoned her, she abandons us next. ♪ ♪ moving this summer? join the 6 million families who discovered a smarter, more flexible way to move, with pods.
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ashley: the state lawmaker in georgia just left the democrat party and is now a republican. she says democrats crucified her for breaking ranks on issues like education and crime and she joins us this morning. great to see you. my question, what was the final straw that made you switch? >> the final straw was not a final straw.
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it was just years of me understanding the value of myself and community are not in line with the democrat party. one thing, education to be in public safety, victims rights, i could go on and on. accumulation of things. if there was one thing in particular, it was putting up a thousand dollar check on social media for people to run against me you actually upset the party, the democrats, because you supported school choice. give me some examples how democrats tried to shame you. >> there was the online check. but this is the thing. i am the only district in the metro area where only 3% of the children know how to read. only 3% reading proficiency.
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so if a they are not helping those students, then who is going to? it appears that my colleagues on the republican side want to help marginalized children. ashley: you have said for far too long the democrat party has gotten away with using and abusing the black community. in what ways? >> when i tell people to look around at their communities the communities are led by democrat leaders, they -- know republican leaders leading the black community. so if you are upset with jobs in the community, upset with crime in the community, if you are upset with the criminal justice system in the community, if you are upset with anything in the community, look at to the leadership is. right now the leadership are
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democrats and have been democrats for 50 plus years and so i am hoping with this switch that i can show my community and many other black americans what does it look like if you legislate as a republican and being a black american. ashley: very quickly, earlier this year you said you would never swap parties. how do you feel about your decision now and what feedback have you had from voters? >> i feel like now, why didn't i do this a long time ago? i had a medicine amount of support. people texted me, emailed me all day long from yesterday saying i still support you. i never came to the press conference, i may be a democrat but i am going to support her, don't care what her political affiliation is. i've had democrats say you have
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the courage, many people feel the same way you feel. ashley: you may have started a trend. republican state lawmaker, thank you for joining us and telling us your story. we appreciate it. we told you the supreme court blocked president biden's student loan hand out but how many borrowers spent the money they thought they would get forgiven? lauren: 34% of them. they assumed they would never repay that debt. what did they spend the money on? 20%, vacations, 10%, vices like gambling, we laugh, but 37% did use that money to pay down other debt, typical american household carries $10,000 in credit card debt alone. all these numbers are from intelligent.com. when you are promised something you spend your money accordingly. 5% of these people said they
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spent $10,000. ashley: the lesson is wait until it is in the bank account. florida senator rick scott, kevin o'leary and doctor penn carson, the 11 a.m. am hour of varney is next. 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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