quote-unquote, rain on biden's 2024 parade. they are running on bidenomicment -- bidenomics. >> i think liz is exactly right. we're going to get a report on manufacturing orders and shipments. that's going to show weakness. that's been on a declining trend as i mentioned earlier. corporate net revenues have been going nowhere of late despite all this talk of a strong economy. net revenues up by only 2.4% in the second quarter, that's not going to get much better. that bodes poorly for employment 6-12 the months from now. cheryl: you made some great points today about everything happening within that jobs report on friday, not all good news. john lonski, liz peek, thank you so much for being with me. "varney & company" is up next, and mr. stuart varney is ready to roll on this tuesday. stuart: that is true. good morning, cheryl, and good good morning, everyone. no clear trend for your money as we return if the holiday weekend, but there's plenty of

action in politics. i'll sum it up like this -- biden down, trump up. here we go. blockbuster polling from the "wall street journal." the president is underwater on every major issue. voters give him low marks on the economy overall and a disapproval if rating on inflation of over 60%, almost double his inflation approval rating. and donald trump, well, he is running away with the republican nomination. sex out of ten republicans -- six out of ten republicans support him, and he is 46 points ahead of ron desantis. then there's a head to head matchup, biden and trump are tied, 46-46. on the world stage, china's xi jinping will not attend the g20 the summit. north korea's kim jong un will visit putin in moscow. looks like a new world order since the afghan withdrawal. china, russia, iran, north korea versus the u.s., europe, japan and inya. to the markets -- india. no dramatic moves for stocks at least in the early going.

the dow down -- sorry, up maybe 27. small loss for the s&p. 30 points down on the nasdaq. watch this. the gap between the 2 and the 10-year treasure rely yields, that is narrowing. that 'em plies less of a chance of a recession. goldman sachs put the risk at 15%. the 10-year treasury yield is 4.22, 2-year yielding at the moment 4.# 88%. watch oil. $85 a barrel the morning and rising. there you have it, 86 -- i'm sorry, it just went up. 86.69 and riding -- rising. gas unchanged at $3.if 81 as a national average, but that's probably going to rise as oil goes up. bitcoin, you're looking at $25,000, 25 the,7, to be precise. on the show today, the crunch time for if may grant surge has big city schools reopening trying to cope with tenses of thousands of newly enrolled migrant students. democrats are at each other

throats over this, and republicans sense a winning issue for 2024. united autoworkers union talking tough. they want a 46% wage increase, and they threaten a strike this month. the president talked about it over the labor day weekend, the uaw said it disappointed with its response. i'm not going to do a movie are review, i'll stick to money and politics, but i did go to see oppenheimer, and i think it's the best movie i've teen this in years. -- seen in years. varney and company is about to begin. ♪ ♪ ♪ jump for my love, jump in and feel my touch ♪ stuart: i'm toll this is dance music or a dance song. lauren: from the '70s and '80s? yeah? >> you were jumping for joy when it came to you, your love of

oppenheimerer. lauren can attest to this, you were cheering it ten minutes before we started the show. stuart: it was a brilliant movie. lauren: and you want the compare it to barbie which really can't be with done. stuart: no, i will not see barbie, and i'm certainly going to see onen heymer again -- oppenheimer again, it was so good. a new poll finds many people believe president biden is just tooled to the run for re-election. take us through this one, lauren. lauren: 73% of voters told the journal biden's too old to run for re-election, and two-thirds of democrats agree with that. separately, 60% say he is not up for the job mentally. so age and mental fitness continue to dog the president's campaign as he tries to persuade viewers he's ready. also wanted to tell you this, jill biden, the first lady, has tested positive for covid for the second time. she'll stay in delaware so she can recover. the president tested negative, he will be tested regularly throughout the week and, of

course, he's scheduled to go to india for the g20 on thursday. but if he tests positive, well, that's obviously -- arrangements would be made. stuart: this has been thought about. if he tests positive and doesn't go, will he send kamala harris, the vice president, in his stead? what will be the reaction to that? i'm not going to get that into now, but maybe later. lauren: i'd like to see that. [laughter] stuart: we'll discuss this. todd piro with us this morning. this poll, is it all age or mental acuity? which is it that voters really don't approve of? >> when you say age, you mean number. this has nothing to do with the number because when you look at what the same poll thought about when it compared trump and biden, trump and biden are only a few numerical years apart, but if you compare the two individuals, i don't care how much you hate donald trump, if you look at the two faces, the two bodies of these two two men, min with half a brain can see

that donald trump is very vibrant, more aa wake, alert than joe biden. you may hate his policies, but you have to see that, and that's why those democrat numbers were lagging when it comes to joe biden's fitness for the office. stuart: almost 68% of voters disapprove of the economy, so why is he running on bidenomic something is. >> because in that bubble of washington they think what they're doing is either working or they don't care as to the parties they're hurting. i've said this multiple time, bidenomics, i think, has been great for wall street. i think you look at the numbers, bonuses are going to be good this year, i think bidenomics loves this. and the democratic party has become the party of the very, very wealthy and the very, very poor. the middle class, which was the heartbeat of the democratic party for so many years, is like, whoa, hey, remember us? we're trying to pay -- 8 a gone for milk, and so bidenomics are is not helping the middle class. it doesn't seem joe biden cares about that, if and that's why he's bragging about these

bidenomic policies which are deadly for the middle class. stuart: fired up, stay there, please. lauren, one economist says it's pointless to poll republicans about biden's economy. what's the argument? lauren: it's a professor at the the university of michigan on can cnn. he said if you look at the hard numbers, yes, the economy has absolutely gotten better under biden in the past two years, but the country is way too divided to admit that. that's the argument. >> a big part of that is this enormous partisan gap. it's the gotten to the point where it's almost pointless canning republicans how they feel about the the economy. only 7% of them were willing to admit that the economy had gotten better over the past two years. so i think when we ask these questions, people are no longer telling us how they feel about the economy, it's really about the president. lauren: yeah. so, again, why tout bidenomics? why make bidenomics the center of your reelection when no one's

buying it? stuart: very good question which we will, no doubt, get into over the next three hours. a lot of time here. todd, do you think republicans just don't want to admit the economy's getting better? >> i think, look, is there there a sliver of truth to the fact that some republicans, i don't know, stu, maybe could be a little more weapon is rouse on certain aspects of the economy? yes. people have jobs, by and large. okay, i'll give the current state of the economy that. but inflation is the economy to 75% of this country. when you think of the economy, most people are thinking how much does it cost to buy stuff. and and at the end of the day, stu, if it costs a lot more than it did three years ago, you're going to vote that way. stuart: thank you, todd. check futures, please. tuesday morning, back from a long weekend. gain for the dow, up 18, maul loss for the s&p, you're down 45 on the nasdaq. jason katz joins me. has the fed done tightening, in

your opinion in. >> yes. if we're not there, we're darn close. we're in this environment where bad news is good news, but we really need to be careful what we wish for here. so fed is getting the three ingredients they want, right? we have wages going a little bit lower, greater labor force participation, job growth is picking up. all that being said though, the fed, they don't want to steal victory in the jaws of defeat, and if they go a little higher and stay too long, they tip us into recession. so i do think they are nearing if not at the end of this campaign. stuart: are we -- so a soft landing would be the best outcome here. >> correct. stuart: which is -- i mean, a soft landing would be with an extremely small recession, put it like that. >> look, i think it'd be dumb luck if, in fact, we thread that needle, but the fed may very well end up in that place. so, look, we have peak rates, we certainly have peak inflation. earn earnings revisions are starting to go up a little bit,

so the good news is soft landing is in the calculus, it's on the table. the not so good news is the market is very cognizant of this. upside for equities in the next 12-18 months are very muted. perhaps if we're lucky we'll get to 4700 on the s&p, but that's, what, 6% from here? stuart: to you see gold going up from here? up 10% by next year? >> i think 2100 is definitely in the cards. when you're at the end of a rate-hiking campaign, which we are, historically gold does well. you also see gold perform well when the dollar softens, which we expect. most people aren't aware of this, central banks around the world this year will end up buying more gold than they have since the mid '60s. so i think there's a home for gold in a portfolio. i don't think it goes parabolic, but i do think you could see 8-10% upside. stuart: you see we've all got used to those huge gains from some of the tech stocks, and that's what we're focusing on

all the time. 10% up in gold for the next year, a lot of people don't think much to that. last word to you. >> yeah. expectations have been wild, and beth to the upside and downside. i've said this before countless times on your show, i think we've got to get accustomed to a whole lot of nada, a -- accustomed to a whole lot of nothing. stuart: that's my big worry for the decade. if it goes nowhere, i'm in trouble. jason, thank you very much, indeed. next case, a strike is rooming between the united autoworkers union and ford, gm and stellantis. the president spoke about this. what did he say? lauren: are nine days til a potential strike, is and he is not worried. watch. >> reporter: mr. president, are you worried about an auto strike? a strike? >> [inaudible] no, i'm not worried -- [inaudible] lauren: i'm not worried until it happens. but the president of the united autoworkers union says he was

shocked to hear the president of the united states say that. the union is withholding their endorsement of biden in '24. his green policies take away their jobs. an ev, an electric vehicle, can be built with 30% fewer workers. that's one of the reasons they're demanding so much in these contract negotiations. stuart: what do you think to the president's pause before answering the question? >> i mean, you could have rolled that tape for my answer to the first question about hissing cognitive abilities. if the democrats lose the unions, this election's over. boy, that would hurt. stuart: all right. next, the white house claims anyone who don't like bidenomics, that is flat out wrong. >> when someone tells you americans don't like bidenomics, it's false. americans approve of the components above 800%. stuart: okay.. -- 80%. i think he should take a closer look at the polls. more than a hundred incidents of chinese nationals posing as

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smartphones, but so far congress has been all bark and no bite. and tiktok has been enjoying trying to run out the clock on this as congress returns from summer break. they have a few bigger problems on their to-do list like avoiding a government shutdown and a possible impeachment inquiry into president biden. tackling tiktok not at the top of the list, but not off the list. the app, in the meantime, is taking advantage of the distraction, going on an ad blitz to give their brand a patriotic makeover, even dropping an ad during the fox news primary debate highlighting how it's helped veterans and small businesses. the company is on a lobbying spending spree, spending more than $4.28 million so far in 2023, but some in washington not impressed with the brand refresh. senator marco rubio saying, quote, tiktok's corporate image consultants are desperately trying to rebrand the chinese-controlled app after a series of scandals, but no amount of spin can hide the rusk pose by the chinese communist party controlling an app used by

one in three americans. 35 states have banned tiktok on government devices, but washington has not been able to get an all-out ban for everybody through congress just yet. stuart? stuart: hillary, thanks very much, indeed. i think we're in uncharted waters, and here's why: the "wall street journal" reports 100 incidents of chinese nationals posing as a tourists to try and breach u.s. military sites. item one. item two, president xi expected to keep the g20 the summit. item three, kim jong un going to meet putin in russia to discuss weapons support. k, the mac for far lan -- kt mcfarland joins us now. is a new world order taking shape? >> we'll see, the chinese are certainly hoping it'll take shape. it's all the things you talked about, the chinese think this is their moment, that the united states probably starting with the withdrawal from afghanistan and all the mistakes we've made since then, that we're ripe for

the picking. you know, our economy isn't in good shape, we've got a president who seems to be quite challenged, we can't get our act together domestically, and our economy isn't where it used to be. so, yeah, i think the chinese are setting up the new global world order that's going to rest on china, russia, iran, north korea, whatever they can pick up in the brics and the global south, and then they're reset the rules of the international rules-based order to really favor themselves economically, on trade and military possessions and on influence in global regions, yeah. stuart: what do you make of 100 chinese nationals trying to get into u.s. military bases, appearing as tourists and saying, hey, all have the same story. what is with that? [laughter] >> it's like they're coming in through the doors and the walls and the crack in the floor. yeah, the chinese are cheerily penetrating -- clearly penetrating the yates' as well as. it start with the spy balloon,

probably started before that. they're looking at us from cuba, they've got divers that are going off u.s. naval installations, tour u.s.es going into hotels that are near american military installations. even a white house tour where chinese tourists are, quote, getting lost and taking pictures of areas they're not supposed to take. a think -- i think a lot of it is hoover up as much as you can, we'll figure out what we'll use it for later. but, yes. and it's also in your face. they're not even trying to disguise it. they're not worried about our reaction anymore. stuart: what's with kim jong un's visit to moscow? is that straightforward putin needs weapons and north korea needs food9 and the chinese are telling them, get up there and get some ammunition to the russians? is that what's going on? >> yeah are. well, it's the part of what you're talking about is this new global order and the new kohl war which is going to be head are by china, russia, north korea and iran.

as long as oil prices remain high thanks in large part to joe biden's war on american fossil fuels, then russia has money to burn. it has money to pay for its war in ukraine. it's running out of weapons, so it's going to take that money, that extra money it has from high oil exports and pieces and go around the world on a shopping spree. and i think that north korea's the first stop. the interesting thing about this though, stuart, kim jong un doesn't get on airplanes. i think he saw what happened in russia a couple of weeks ago with prigozhin, he only travels by town and armored train. stuart: i shall remember that. k mcfarland, good information. see you again soon. >> thank you. stuart: bloomberg now predicts that china will likely never overtake the u.s. economy. is their current economy in such bad shape that they can't ever overtake us? is that it? >> that seemed to be the takeaway. china no longer set to the take

that first top spot anytime soon or potentially ever. bloomberg forecasting it will take until the mid 20 the 40s for china's gdp to exceed the u.s., but then it's going to fall back behind us. they say china has a deepening property slump, that seems to be the big issue in china and fading confidence in the ccp's management of the economy. last year china had its first population drop since the 1960s raising worries about declining productivity. you have bad property, declining population, all added in to the mix and one guy at the top who east going to face the music. shiewrt stuart and xi jinping doesn't want to be out of the country if country garden goes bankrupt. he's got to be in beijing. thanks, todd. let's check futures, please. where are we on a tuesday morning? the nasdaq down 50 points. the opening bell is next. ♪ ♪ valerie, call on me.

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stuart: just a couple of minutes before we open the markets. the cow is up 20, the -- the dow is up 20 the, the nasdaq down 40 points. david nicholas with me now. september, historically a bad month for the markets, so tell me where i can put my money to avoid that nasty trend. >> yeah, stuart, historically a bad month for the market. s&p's negative going back to 1945. i think this is the perfect moment for utilities to shine. utilities have had an awful year, they're down 11%, but second quarter earnings they had the third highest earnings beat, 9th.9% compared to 7.9% for the s&p 500. and also this was a pretty warm summer. that means higher energy costs. so i think utilities is a great place for investors to hide out over the next few months. stuart: hold on a second. i would go into a utility because i want the dividend yield. should i go into a wu tilt this time around for -- utility yield this time around for a capital gain? >> southern company is right here in georgia, they're paying 4. they're mainly for income.

but if you look at a company like next energy, that is a smart play on green energy. they have a much lower dividend, about 2.8 president. that's a utility name where i think you're going to get some upside growth and not as much dividend. it just depends on the company, stuart. southern company for income, nee if you want upside appreciation. stuart: trouble is you're still competing with 5% on a 1-year or 6-month treasury. >> stuart, that's right. 5.5%, i'll get a plug here. our treasury, fix, it's long treasuries, so you get 6.5% yield. but here's what's interesting, we actually have a long credit spread on xlu, which is the utility sector. so you can benefit in if the utility sector goes higher, but you still get 6% in a treasury, is so you get a mix of both worlds. stuart: hold on a second, how do you get a 6.5% yield in long-term treasuriesesome. >> that's right. we're doing a conservative options overlay. we're doing credit spreads so it

limits your gain ands losses, so you're getting about 1% extra over and above the treasuries, stuart. stuart: how long am i going to get a 6.5% yield on your treasury? >> it's about a 6-month duration. if you think inflation's going higher, you want to stay on the lower end of the curve. right now, we're staying short, stuart. stuart: all right, david, i'm going to watch that 6.5% yield on the long-term treasury. that's not a bad yield there, lad. thanks very much. the opening bell is coming up in 20 the seconds. you can see them all arranging themselves to get this thing going. we're just opening up after a long 3-day labor day weekend. and as we always say, someone on the right-hand side of the screen will reach forward and, ultimately, press the button. not yet, you've got to wait about 5 seconds. hold on, sir, hold on. all right. now you can do it. thank you. [laughter] right on cue. lauren: on cue. stuart: we're all looking at a atomic clocks which measure time to a hundredth of a second.

the dow has opened on the downside but not by much. look at that, you're down 8% -- i'm sorry, 8 points. flat to ever so slightly lower. the dow 30, there's about, let's see, it's about half and half really, ups and downs. the s&p 500 opening slightly lower. down .100%, the nasdaq composite also opening flat to slightly -- not slightly lower, you're down a quarter, almost a third of 1%, drop dod below 14,000. look at big tech, mixed pick picture. meta, microsoft, up. now look at novo novo nordisk. it's gained a lot of popularity because it's a big weight loss drug maker. now, lauren, let's see, it's the up 1.5%, is that because it's going to britain? lauren: yes.

yesterday launched in the u.k., fifth market. it has done tremendously. novo nordisk says it's a controlled and and limited launch because they literally do not have must have supply to meet demand. that's how popular these injections once a week are. now novo nor dusk -- know slow nor disk eclipsed as the most valuable company in all of europe. stuart: that is extraordinary. it's an a injectable. at this point it's injectable. lauren: they're working on a pill. in late trials. stuart: you got to put up with a needle -- lauren correct can. and you get about an average 15% weight loss. >> i got a place where they can shove that needle, right here. [laughter] stuart: blackstone and airbnb, i think they're both up. lauren: nicely. stuart: a i've got to admit i've got a piece of blackstone, a thin sliver of it. lauren: congrats. you're up 3.7%, and if you own airbnb, 6.2%. before the opening bell on

september the 18th, both companies get add aed to the s&p 500 -- added to the s&p 500. so blackstone replaces rincon national, and airbnb places newell brands. when firms enter the s&p, they typically see their stocks rise because with actively managed funds benchmark the index and buy their shares. stuart: makes logical shares. the ceo of inrid ya just met with india's prime minister prime minister modi. lauren: india wants to manufacture more artificial intelligence chips, so much so that india wants to become an alternative to taiwan. it does have a long way to go, but that's their goal. in fact, they want to be the world's third largest economy. by the year 2030, right around the corner, and making chips for a.i. is a big part of that ambition. so there you have the photo op of the prime minister of india and the ceo of nvidia. they met e again, and invidia, i mean, #. 5% increase just last week alone, 5 a.5%.

the shares closed at a record 493, that was on thursday. now down $4. stuart: the government of end please ya has just granted a golden visa to sam altman, the a.i. guy. he's got ten years where he can move in and out -- lauren: for singapore. stuart: no, that's indonesia. they like a.i. down there. qualcomm, i me they're partnering with some car companies. the stock justic thed up. which companies? lauren: mercedes and bmw. they're powering the luxury car makers with the a.i. chips for voice control, for the display, driver assistance. but qualcomm, basically their mow modems are in every single apple iphone, so they're show arely pivoting away from smartphones because demand is seen as sluggish and going into the auto sector. that pivot because that's where they see demand for a.i. being more prevalent. that's a pivot. stuart: i can understand that entirely.

disney, they're having a tough start. lauren: look, the latest news is wells fargo cut their price target to much higher than it is now, 110 from 146. but wells fargo is worried about a lackluster box office. disneys has that had very few hits. disney+ subscriber numbers going down and the cost going up, and this is the latest, the dispute with charter and 15 million households, spectrum customers have a blackout of espn if ahead of college football, during the u.s. open and other stations. so now you have disney saying to these spectrum holders, well, just cut the cord entirely and sign up for our you lieu +live tv -- hulu tv live option which is $70 a month? stuart: a ooh. >> anecdotally, i may do it, because i have spectrum. granted, fox had the best game of the weekend, but nevertheless, there's going to be some game that i'm going to want to watch. don't mess around in college

football season. stuart: that thing about disney not making great movies these days. they should have made oppenheimer. [laughter] i may be overstating this, but it's the best movie i've seen in years and years and years. >> it feels like a random stock today that makes chips or something. you know, they should stop making chips and start making oppenheimer. lauren: what was the last movie you saw before oppenheimer? stuart: honestly, i can't remember. lauren: so you really wanted to see this. stuart: and i'm glad i did. thanks, everybody. check that big board, in business now for nearly six minutes. we're up all of 8 points. it's a very slow opening. do we have dow winners? of course. who's at the top of it? chevron. lauren: saudi arabia is extending their production if cuts true the end of the year -- through the end of the year. stuart: that's why gasoline is going to to get more expensive in a couple of weeks. chevron tops that list. top of the 500 list, marathon,

halliburton. if the saudis extend their production cuts, well, that that makes the price of oil go up. airbnb, as we told you, it's going to join the s&p 500. netflix is up 1 is.25%, how about that? check the 10-year treasury yield. it's been going down a little recently, but this morning it's up to 4.23%. the price of gold, we had a forecast of a 10% increase in the price next year to over $2100. it's not going up this morning, it's down $8 at 1959. bitcoin, $25, 700. oil, here we go, $86 a barrel? no, $87 a barrel. that's why the oil company are very act ative today. nat gas, not much change, i don't think. yes, there is. we're down 5.7%. gasoline, okay, the national average for regular is now $3.81. i do predict it's going to start going up with oil at $87 a barrel. california, what do you think regular is in california?

look at that. $5.32. coming up, texas just sent a 12th bus full of migrants to los angeles. now the city wants to sue texas. question: how can a sanctuary city refuse to take people? tom homan on that shortly. ncaa volleyball player forced to play against a biological male transitioning to female. she now wants all presidential candidates to pledge to protect female athletes like her. macy will be on the show. president biden went after trump. he says trump never built a thing? roll tape. if. >> guess what? the great real estate builder, the last guy here, he didn't build a damn thing. when the last guy was here, you were shipping jobs to china. now we're bringing jobs home if there china. stuart: what? [laughter] i will guarantee that larry kudlow is going to be the really fire up about that one. i also guarantee larry's appearance right after this.

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stuart: the administration says americans, quote, need to live in the real world and realize that real wages are up upward lawrence joins me from the white house. edward, i thought real wages had fallen since biden took office. where where am a i going wrongsome. >> reporter: both things are actually true. real wages are gone up but only over the last three months, and the president leaves out that time frame. if you go back to when president biden first took office, real wages are actually down 3%. now, that means not only have people's spending power not gotten back to where they were 30 months ago, but they actually

lost money. still that might be one reason the americans give president biden low marks on the economy. a new "wall street journal" poll shows 63% of people say the economy is not so good or poor while only 37 see it as either both either excellent or good. still, the white house economic advisers telling voters, as you said, to live in the real world. >> i gotta live in the real world and in the real history, and in the real world real wages are beating prices. that is a very welcome trend. >> reporter: so if if people are living in the real world and say see overall inflation up 16% since the month president biden took office and food at grocery stores are up 20% in that that time. >> we're looking at 45% less homes being bought because interest rates are so high. we're looking at skyrocketing people not able to pay their credit cards on time. and then we're also looking at budget deficit that's getting ready to double in one year to $2 trillion.

>> reporter: so in the poll when it comes to age, 73% of voters say that president biden is too old to run for a second term. in that same poll, 47% of people see former president donald trump as too old, and the two are three years apart. back to you, stu. stuart: edward, thank you very much. despite bad marks on his economy, joe biden took aim at trump's economy. watch this. >> guess what? the great real estate builder, the last guy here, he didn't build a damn thing. the guy that held this job before me was just one of two presidents in history, he was one of -- but there's an important point. one of two presidents who left office with fewer jobs in america than when he got elected office. when the last guy was here, we were shipping jobs to china. now we're bringing jobs home from china. when the last guy was here, your pensions were at risk. we helped save millions of

pensions with your help. [cheers and applause] stuart: well, now, larry kudlow is with us, and he's sitting calm hi. i'm sure he's fired up about this. [laughter] now he's returned to his normal smile, and we're glad to see that. come on, larry. what's your response to biden? [laughter] >> i almost don't know where to begin. as far as jobs go, you know, 30 months into it, here's some numbers. 30 months into his administration trump created 4.9 million, these are new jobs. biden created 2.1 is million. this is net of covid returnees. you've got to adjust out for covid which, of course, the bidens don't like to do, but everybody else in the economics profession does. so trump had almost 3 million more job wheres at this stage of the game. and manufacturing, the story's the same thing. trump had 250,000 more jobs. i just want to make a point though, you know, the last jobs

report on friday says, was up 178,000, i think, or 187,000. but with revisions, stu, it actually was only 77,000. and we've seen in recent months downward revisions which is a leading indicator usually of a very big softening of the labor market. and when you look at the inverted yield curve and the collapse of the m2 money supply and the index of leading indicators falling now, i think, 15 or 16 consecutive months, you have to worry about the some kind of recession next year. stuart: yep. >> the new york fed indicator is 65% probability of recession next year with. can i just make a couple other points, stu? stuart: please, please. >> look, on this crazy biden speech, i mean, i'm sorry, he's incapable of telling the truth on the economy. and there's a bottomless

pinocchio. he gives you the same stuff. he's cut the budget deficit by $1 is.7 trillion -- 1.7 trillion. i mean, "the washington post" labels this a bottomless by gnome owe. he says it at every peach, and it's completely false -- speech. and as many others have pointed out, the budget deficit for fy-23 is going to be over $2 until. -- 2 trillion. by the way, this is one reason why all this new borrowing, why the 10-year is up to 4.23. the other point i want to make, and this is a crazy point, they keep doing this. they say that all these billionaires on pay 8% in federal taxes. this is one of the phoniest numbers coming out of -- in a world of phony numbers, this one is one of the worst. what they do is calculate a nonexistent wealth tax on

unrealized capital gains. now, there is no wealth tax on unrealized capital gains. it'll never go through. it's a left-wing proposal that will never go through, a although the bidens would like it to go through. so that's as phony as can be. the top 1% in this country pay 40% or more of the income taxes, and can those are irs numbers. everybody knows that. and finally, they just keep saying big corporations should pay their fair share. you know, i want to go back years ago when i was a child working for ronald reagan, okay in i was a mere 13 years old when i was working at reagan's omb. my very dear friend and mentor, the late jack kemp, used to always say, you know, the trouble -- he was a good guy, you knew jack too. stuart: i did. >> look, kemp would always say the trouble with democrats, democrats like jobs.

they just don't like businesses that create jobs. stuart: that's so good. that's very true. >> and here's biden -- i know. here's biden, it's, like, there he goes again, stu. so you have to ten me on this -- help me on this. i'm beginning to -- stuart: no, no, harry, you just delivered one of the most thorough takedowns of bidenomics that we've heard in a long time. [laughter] i want to hear it again as soon as you're available, but we'll watch you this afternoon, "kudlow," weekdays 4 p.m. eastern. thanks very much, larry. see you soon. coming up the shortage of adderall is worsening just as the new school year begins. some are calling this an overprescription problem. we'll deal with that next. ♪ ♪ finish. ♪ ♪ if. ♪ ♪

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join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. i suffer with psoriatic arthritis and psoriasis. i was on a journey for a really long time join the millions of people taking back their privacy to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions and an increased risk of infections or lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. stuart: there is now a shortage of the adhd drug adderall, and it's about to get worse just are as the kids go back to school. mark meredith has the story. why is there a shortage of this drug to begin with? >> reporter: stu, it depends

on who you can ask. some experts blame overprescribing, but others think pandemic backlogs remain the real issue. adderall, they're not new, but the demand continues to spike especially among adults. the cdc says more adults started using telehealth services during covid to gain access to these drugs. last month the fda published a letter to the american people trying to explain what's going on. the feds say it knows there are shortages and while there are limits of how many of these drugs can be produced, in this case, drugmakers never came close enough to making too much. they cannot require a pharma company to make a drug, make more of a drug or change the distribution. that said, we are working closely with numerous manufacturers, agencies and others in the supply chain to understand, are prevent and reduce the impact of these shortages. but for if kids who are going back to school right now who depend on these medications, the timing could not be worse. experts tell fox many families are struggling to find the drug

their kids now rely on. >> pediatricians and child psychiatrists have been hit really hard by this, and i think in the way of just sort of panic is how it comes from the families. just the distress. >> reporter: other experts say the shortages are todayed to an overreliance on these medications and the desire for too many kids and parents to incorporate these drugs in their daily lives. a lot of people can't find the had had medication. stu. stuart: mark, thanks very much. the school year has, indeed, begun, but there's a new trend. >> four-day workweeks. these are happening a lot in rural communities because it's really tough to find teachers willing to go, so as a way to sort of sell hem, they basically say you're going to work a four-day workweek, have time with your friends and family. stuart: how many? >> 850 this year compared to 650 last year, so it's it's rising. stuart: has a trend. todd, thanks for being here for the hour. still ahead, charles hurt,

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