tv Cavuto Coast to Coast FOX Business September 26, 2023 12:00pm-1:00pm EDT
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course of democrats calling from menendez to step down, mo grossly the progressive side as he faces federal bribery charges. we asked which president served in congress after his presidency? can we put them up please? there we are. who do you think? >> number one, john quincy adams but i had a little hint. david: i will go to number one as well. i knew the answer. i saw the movie, stud and it is in it, john quincy adams defended the people. and we are going to give you a birds eye view of the reagan presidential library. we were one day from the second republican debate. stuart varney, ilia called her own moderating the debate. coast-to-coast starts right now.
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david: president biden making a historic visit to michigan becoming the first sitting us president to join the picket lines one day after donald trump's planned visit, a report from the wolverine state. chicago crime getting congressional attention with a hearing in the windy city but democrats not showing up. we will hear from victims who want more help. bad blood between the irs and those who resold tickets to seiler swift's tour, the new role that could end up costing resellers. i packed our ahead. let's get right to it. welcome to the show. i am ashley webster in for neil cavuto.
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president biden expect to join striking autoworkers on the picket line. we have the latest as we wait for the president. >> reporter: he's coming. we don't know quite -- he is coming here or hereabouts. you report correctly. it will be a historic visit. never been a sitting president who has joined a picket line. the white house has been trumpeting if that. we should point out president biden says he is the most pro-union president ever. i make an argument the most pro-union president ever is the most antiunion president ever. president reagan, president of the screen actors guild who started the strike against hollywood studios in the 50s and then almost single-handedly broke the air traffic controllers strike in the 1980s. that's "my take" on that one.
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biden leaving to join with john fain, they will walk a picket line somewhere. local media reporting this will take place at the ford assembly plant but now appears it will be somewhere else, the parts facilities where i am right now. one of 38. they issued statements today. the first one from general motors today say our focus is not on politics. but with the uaw leadership. ashley: your audio is breaking up unfortunately but president biden heading to the picket lines in wayne, michigan. hopefully we can get jeff's audio sorted out because we want to see what goes on there. the former president also
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heading to michigan this week to compete for union voters. trump won the state over hillary clinton in 2,016 but democrats won it back with president biden in 2,020. can we expect a similar showdown in 2,024? maybe. let's ask our panel, carly cooper is of a man and lee carter. let me begin with you, carly. if i am not mistaken the uaw has yet to endorse president biden. why is that if he is the most pro union president we ever had? >> biden is here to make the case, picketing himself directly, that he really is a staunch supporter of unions. it is critical at this time that he's going to convince these voters that his clean energy agenda is in line with the values and priorities of union workers, create more jobs
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for union workers and doing it when trump is trying to make the case that biden and biden's agenda will take jobs from these workers. this is at a point where biden knows he needs to convince voters that he always had their back and will have these people and every interest in making sure the strike ends as quickly as possible so it does not increase and impact the supply-chain in a way that will impact the economy when voters are having a hard time believing the positive economic metrics we are seeing as biden struggles, voters struggle to connect with biden. ashley: those polls bear that out. the president struggling, his performance, bidenomics, and a lovely endorsement at the uaw. it is an opportunity for
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someone like trump or the republicans to make some ground after 2,020? >> no doubt about it. the union movement reached peak popularity that it has in the last 50 years, 70% of americans support the union movement. what president biden is doing by joining the picket line is to say i am a man of the people. i'm out here with you, standing with you but here's the problem with that. when you are the president of the united states, it in the best interest of the united states to get this resolved. it's not in our best interest to have an ongoing dispute between the unions and the workers. it doesn't make sense and what presidents and leaders do is work behind-the-scenes to help the two sides come together. what is in our best interests is get the strike over and get everybody back to work, not to see political stunts happen right now. the contrast, you've got president biden with the picket
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and donald trump going to address the workers saying whatever he is going to say, i feel your pain, going to try to present an alternative view here and honestly i think the advantage will go to trump. i don't think it will go to president biden in this movement. ashley: the biggest threat for president biden, or risk if that's a better way, he is tying himself to the workers. if the strike goes on and starts to hurt the economy, his face is associated with it. it could be a risky move. >> you make a point but president biden has staked his career on his support and staunch backing of union workers. he has aligned himself so strongly with these voters, this is a voting bloc crucial to his victory in michigan in 2020, the trump won in 2016 and biden has no choice but to double down on his support for
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these people because it is could call that he maintains their support in 2024. ashley: interesting, the president has been pushing his green agenda and part of this dispute, where do these workers stand when we transition and as per the government into the electric vehicle arena. a big concern for these union members. for someone like donald trump and the republican party in general that is a talking point for them. >> absolutely a big talking point for them. the difference between what president biden is talking about is the future. people concerned right now what this means for them today and next year. whether or not the government get involved and says we are going to force the transition more quickly, that is something that could alienate these workers. whether or not president biden stand side-by-side with them on the picket line doesn't answer the question about how they will support their families
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today and over the next year or two. that is what people are concerned about and what the president needs to address and often i think in these moments, seem somewhat tone deaf to what the real issue is. he hasn't addressed the real problem so donald trump will go out and say i will address the pain you feel right now and president biden might miss the mark. ashley: it is fascinating to follow, great discussion. thank you for taking the time to chat with us today. i want to get to the markets if we can, the dow is close to session lows off 300 points, pretty miserable september for the markets, the dow off one%, s&p down more than 1% and the nasdaq down one and one 12:45%. we have had some numbers, home sales in august, disappointed new-home sales and consumer confidence also missed estimates by more than expected so what is going on?
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let's get the read from alan, it used to be bad news was good news if you want to follow that line, it meant the fed would be less inclined to raise rates because the economy was damping down but bad news is bad news, the economy is slowing down. is that right? >> you can look at it different the, the economy is so strong, we are here for longer, not higher but near the rate we are holding at this high level because things are so strong. a couple things to mention here. the good news is 1% move now is 50 points at loftier levels, with the volatility, 20 for four full months. there are some positive here, i don't want to forget the uaw. my father is a retired uaw member.
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i went to chicken state. and the first thing i tell you, not one person level they truck and that helped a lot of autoworkers. ashley: its most popular truck in america. jamie dimon kind of casting a pall over the exchanges saying interest rates may need to go further to tamp down inflation. you think he is right. >> there is a pause in stocks. and 4400, and and with september.
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at earnings again in october. all this, record rate hike path, only 11% over the top and 7% off of the top but we've been in a buy the dip market until proven otherwise in 2023 and i still see a lot of positives. the positives are there and the fed is building rates and reduced the number of times you will cut next year. when they cut, the dollar will no longer be strong and that will help every asset class when the dollar does dive even a bit. ashley: we have to leave it there. great information. appreciate it come with the dow down 1%. i was -- the clock is ticking, the possibility of a government shutdown is becoming more likely. how every day americans could
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ashley: time winding down for congress to avoid a government shutdown, they need to pass a measure by sunday to keep the government funded. aishah hasnie has more on our shutdown may affect americans. >> reporter: whenever there's a shutdown it could cost the economy billions of dollars. last time in 2018 it hit us with $3 billion into the economy. this affects federal workers but it could affect you day today. here's what would happen if the government shutdown. parents who rely on head start centers, federally funded preschool classes could lose that care. airport workers like air traffic controllers continue working without pay, that might lead to them walking out of work, not showing up to work
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and the last shutdown in 2018 cost major headaches at airports nationwide. many national parks and museums will close. if you had travel plans to go to the grand canyon, yosemite, you would have to reconsider your travel plans, food and rail safety inspections would stop. highway projects that rely on federal dollars might come to a halt. and active-duty military families, start missing paychecks, so would federal authorities like border patrol agents patrolling the southern border. nobody on capitol hill wants a shut down but it would be the 15th shutdown since 1980. a big blame game about why lawmakers keep getting this wrong. >> they are required to have 12 spending bills done and signed into law by the president of the united states and the last 40 plus years they've been
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successful four times. attornment is failing grade from congress. >> reporter: speaker mccarthy spoke to reporters and said he's moving forward with these appropriations bills taking a vote on them this week. he says he's going to put a continuing resolution of that would help us to buy time, he will put that on the floor. it's not a clean cr. it will include border security. ashley: thank you very much. the clock ticking. the shutdown is the only thing lawmakers are dealing with, they announced the first impeachment inquiry hearing into president biden. that will happen this thursday. former republican ranking member doug collins joins me, great to have you. before i get to the impeachment inquiry i want to talk about the shutdown. speaker mccarthy is between a
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rock and a hard place, far right conservative saying we are not going to go with another cr. that's not how you do, we have to cut spending, than another group of moderate republicans working with democrats to come up with a compromise stopgap measure. how does this play out in your mind? >> it's very difficult because you have the senate sending a clean cr over and mccarthy to not put it on the floor knowing he can't have votes for that almost like it is antagonistic in. a lot of folks out there, seemingly looking at the fact, something will happen but mccarthy has landed on his feet before. they have plenty of time to get it done but they need to understand not everyone will get what they want and the concern, you have enough people saying they will not vote for acr.
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ashley: does that give a black eye? both parties responsible along the line but it is the black eye for the gop because of the fracture within the party? >> makes it difficult. politically a year from an election everybody says this will be damaging politically, what typically happens is people forget especially if it is a week or two week shutdown. the vast majority of americans are not affected. what your reporter said earlier, if they don't do a set up for military pay to make of that go over at the end of may get back pay, always get paid. most people forget long-term politically but does it show majority in the house cannot get it together? yes. what they are fighting for, they are fighting for a smaller
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government, and everybody, democrats and republicans. ashley: that's very true. let's get to the biden impeachment inquiry. thursday, we understand there will be a heading, a foreign duck account, former assistant ag who served in the geode -- doj tax division and law professor. what do you expect to come out of this. democrats and the administration say it's a political witchhunt with no evidence. >> the democrats are the same party, when i was ranking member of the judiciary committee in 2019 against donald trump for a phone call, their words on what impeachment is i have 0 faith in especially adams and others, nadler made it all up. this is a preliminary inquiry. not and impeachment inquiry in the true sense of the word. i said this invar past, there is building evidence, they may
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call it and impeachment inquiry but it is still a luminary, when they can bring it in, true impeachment inquiry. this will be more framings the issue. it will frame the issue, what we think so far and believe is happening and that's good for the american people because unfortunately it is strong out the last 9 months, this should put it all in one hearing. ashley: we will leave it there, great to talk to you, thank you so much. thank you. house speaker kevin mccarthy speaking with reporters on the spending fight. chad pogrom joins us now. what did mister mccarthy have to say? >> they are in a better position than they were a few days ago trying to pass the batch of spending bills, keep in mind these bills don't refer
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to the government shutdown. all this does is build confidence with his members to move through the spending bills with interim spending bill the next few days and get the other things done. i asked kevin mccarthy aren't you daring people to vote against the procedural vote later today. i will put in interim spending bill on the floor. some conservative members can't vote for that and he will connect with a spending bill of some sort vote would fund the government. i think we might have a technical problem, can you hear me? ashley: we can hear you. a little hollow but we can hear you. bottom line is what to do is put in interim spending bill on the floor and he would only do that if he gets through the procedural vote later today. this is something that is blown up 3 times the past couple
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weeks and what they would do is the interim bill would be a sweetener for those conservatives, what would be attached to them and i tried to ask the speaker is he preparing those members to work no? that's not what we are doing. don't know, what he's trying to do is balance this back and save this is your problem. ashley: the painful sausage making you that goes on to keep the government funded. a special hearing in chicago where victims of violent crime had a chance to share their painful stories. emotional testimony on how city leaders are reacting still ahead. >> living in chicago should not come with a death sentence but it does for too many chicagoans. ♪
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>> my brother christian has the potential to do well. and 16 years old, we went -- christian will never have the opportunity to go to college or get married or have kids or build a career. and so many other youth in chicago experienced the same reality. ashley: powerful testimony from giano caldwell at house judiciary committee field hearing on violent crime in chicago. a member of the fost family lost his brother last year in the deadly shooting. william kelly is based in chicago, joins me now. from what i understand the democrats are not at this hearing, who is getting the blame for this? the numbers are shocking, but who is being held responsible?
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>> chicago has become the city of crime victims. it is getting harder to find someone to interview who is not been the victim of a violent crime. i've been the victim of multiple attacks, multiple attackers. who do you blame? i don't know. instead of having public officials of that you have the expectation they care about you, the only expectation is excuses. police officers blame the state's attorney, blames the judges, the judges blame the jailer, the jailer says he has to let violent criminal out because of the law. what does that mean? now you have a mayor when he was asked what is your plan to address violent crime, first, give me the money, first, give me the money, sounds like something an extortionist would say. >> very sad state of affairs.
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migrant buses arriving in chicago, chicago, does it have the funds, mayor asking for money to battle violent crime. do you have the massive influx of people? >> we have a projected budget deficit of $500 million. what is the mayor's plan, to raise his own pay, mayor and city council should be getting a pay cut. how can the police baby sent migrants and police officers, committing crimes at a police station what do you think they will do on the streets of chicago. violent roving gangs of armed robbers, attacking college students, stealing bookbags,
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valuables, gangs of 8 to 12 people from 13 to 18, they are doing this every night. it's not even news anymore. news would be if the mayor actually said it was wrong, that would make news. ashley: do you get a sense, people must be leaving the city. do you worry about the future? >> i was born and raised on the south side of chicago, always had violence but the problem is we used to have a mayor that cared about the citizens of chicago. the mayor thinks it is social justice to champion the 13-year-old carjack her instead of the college students that had their books stolen. there used to be a movie escape
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from new york, i think they are going to make escape from chicago. ashley: putting it on the line, what's going on in the windy city which to your point is an amazing city plagued with violent criminals. appreciate it. just after saying the border crisis, thank you, days after saying the border crisis was being ignored, elon musk says i am going to speak to lawmakers and want to see the border crisis, marks that on x he will go to the border town of eagle pass, texas later this week. we will bring you all the coverage when the world's richest man heads there to see for himself the number of migrants pouring over the border, that will get some attention. governor ron desantis getting ready for the second gop debate, looking to diminish donald trump's lead coming up. that's not the only debate he
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they say now. looks like biden/trump. they don't do this thing, getting on every state to offer an alternative third-party candidate they don't do this unless it is biden versus trump because that is the only way a third-party candidate is viable given biden's negatives, if you look at polling a lot of people would like someone different than either of those guys as the next president. that happens for him to do it. i think they've got the money, a lot of my wall street sources, the money to read from places that have the money and based on what i am hearing this is tentative, the next couple weeks are going to be key, they are beatings this week to talk about a schedule to roll out when they might have a candidate or the
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qualifications, how they will come about getting a candidate, the vice president and they are going to settle on nominating process, that is what they are telling me. all this is tentative, they are saying full steam ahead. i think they've got the money. in terms of who they might choose, that's the big question. talk to the donors it is all over the place. charles: larry hogan, a lot of people don't think he has quite the personality against trump or biden. i hear glenn youngerkin might come in and do that. they are talking him up, he is a republican, republican governor of virginia. jo manchin has been touting himself.
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he is on the shortlist as well. it could be somebody else. they have the money, they think they have the opening because it's biden versus trump and the crazy stuff that gives you and they will have the candidates. put it together and you have a third-party run, third-party runs have never done very well especially in recent history. ross perot got 18% of the vote without winning one state. ashley: who gets hurt more, biden or trump? biden, right? >> when i talk to the no labels people they think of a polling from both sides. my logic would say biden, if you run youngkin, that hurts trump. joe manchin -- ashley: have to leave it.
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fascinating to talk about but we will see if it becomes reality but it will throw a wrench in the whole thing. fascinating stuff. by the way, donald trump's lead growing against his fellow gop candidates, the latest real clear politics average, has him snagging 57. 3% of the republican vote in 2024, ron desantis next with 14.1%. desantis donor lambert joins me now. great to have you here. how big of a difference could this upcoming debate make given that observers say ron desantis was too much in the background in the first debate and needs to bring it on in the second. would you agree with that? >> all the debates are important but governor desantis's best conservative track record on the republican side, he is going to talk about that and his vision for the country.
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he will do well, he is always prepared. the other candidates can't attack him. he is going to talk about what his vision is, rolled out an energy plan a couple weeks ago, probably talk about that and a national security issue and inflation issue. if we can get energy prices down which biden has no interest in doing we can help control inflation. that's a factor with a lot of voters. ashley: it is early in the going here. we talked about this before but some people are surprised ron desantis is not resonating as much on the national platform yet as he has in florida. if you are giving him advice, what would you tell him? >> he will show up and be ready to go. governor desantis will do well tomorrow. as this race narrows, we will get this down to a smaller
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number of people and easier to get your message out. 45-2nd soundbites, people argue about a book or something like that. it's not conducive to putting off policies. governor desantis, not a national primary, early states are what matters, we can put out polls, how people are doing nationally but it is coming down to iowa and south carolina, that is his focus and where he is spending his time. ashley: donald trump's way out in front according to the polls, how does ron desantis separate himself from trump while trying to attract trump supporters. >> i think you've got to do both. he will not get into name-calling. he still won't admit that
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shutting down the country was a mistake or forcing vaccines on people was our mistake or not firing fauci was a mistake. this will be talked about. until someone is willing to say we will do something different than we did last time, don't know how the american people can go we wanted more of the same of that. ashley: we have to leave it but always a good conversation. we look forward to the debate tomorrow night on fox business, time to check in with jackie deangelis and "the big money show" with what they have coming up at the top of the hour. jackie: we are waiting to see pictures of president biden joining the picket line. a battleground state but we will explain it all. the chairman and founder of fat brands will be here adding a new brand to the portfolio also talking about the state of the restaurant business and the economy, but first, more coast-to-coast after this.
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ashley: president biden land in wayne county, michigan, meeting with uaw president sean fain. he is going to join striking autoworkers on the picket line a while from now. by the same time we learned that forward is going to pause its work on a 3. $5 billion ev battery plant in michigan. power the future founder and ceo daniel turner is here. forward says this is a pause in construction but these auto companies are in a difficult position being told and pushed by the government you have to do this, you have to build these facilities. it's a huge investment but as it stands, the number of people driving evs continues to be not that high compared to normal gas powered vehicles. >> despite how much effort the government makes to push this
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market, it is not working, you can't force the market faster than people are willing to adopt it. a more and miss subsidies for ev companies themselves, to change consumer habits and you see the consequence, evs stockpiling at a market rate and costs are cost prohibitive for average consumers, a big pickle the biden administration is stuck in but a pickle of their own making because they tinkered with these markets with a lot of their policies. ashley: one of the reasons, they are not cheap, they are expensive, this rage anxiety, no infrastructure, we hear stories of people doing basic trips across a state and having to look for more power. those stories don't help the cause, do they? >> they don't and this product is made like a lot of the green
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agenda, made for the urban community in mind, people who live in big cities. i've nothing against evs, they make sense in that part of the world but people who live in rural america for farm communities they don't make a lot of sense. the secretary of energy found out a couple weeks ago when she tried to take an ev road trip. when trying to force, the government trying to force this product faster than the free markets are adopting it and it is creating chaos. ashley: to get back to them, having to shell out a lot, billions of dollars for something they are told is the future but isn't the future right now. that is for sure. we have already seen in the uk they pushed back the dates, the year they want us to convert to evs. is that happening in the us? these targets seem very unlikely to me to be able to be hit.
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>> the targets are arbitrary. the percentages, 70% of sales by 2035 is what the biden admin a straight and wants, those are made up arbitrary political numbers and when you try to achieve a political end you have to implement it with force and that's the friction we are seeing. we pulled this before, we did a poll that you can see in new jersey where governor murphy, his ev mandate is not overwhelmingly 60% oppose that. people don't like to be told the product they are allowed to own or purchase so you will see a lot of restructuring of these targets. ashley: going to be talking about this a lot. daniel, thank you, appreciate your time with us this afternoon. if you make good money reselling tickets. a new law requires ticketing companies to be the irs
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gold terra is drilling deep and rediscovering high grade gold. their project in northern canada has already unveiled nearly 2 million ounces of high grade gold, with a strategic plan to uncovering millions more. gold terra resources. ashley: taylor swift ranking retailers. some of them have to a howitzer -- answer to the irs. >> reporter: the irs creating
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bad blood, a new law requiring ticketmaster and stub hub to turn over information on anybody who sold $600 of tickets. ticket companies required to send 10909ks to send them and who had 200 in the transaction. now because new rules and the american rescue plan, they are warning about the tax bill. 70% of the tickets on the record-setting tour were sold by fan sellers, not ticket brokers. they have spikes, the average price was $3800, 2300% increase at the stadium tour for which the average resale price was $157.
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average face value was 253. beyoncé and harry styles average cost per ticket surpassing $1000 as i send it back to you. the eras tour will be the first to shatter the $1 billion leveling ticket sales weeding out elton john whose yellow brick road tour hosted $900 million. any surprise the irs wants a piece of the action? ashley: not one bit. thank you very much. if you made some extra cash, you have to pay for it. very quickly we expect president biden to join the picket lines on wayne, michigan, there is the picket line. president biden could be there anytime in the next 15 minutes. that does it for coast to coast and "the big money show". here to take you through the next hour, take away. we 16 hello, everyone.
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