in 2020 to say let's get this house in order and get fewer people on stage, because they want it to be a real race now. maria: will we ever see a debate with joe biden? [laughter] >> no. maria: gavin newsom wants one with. we're just supposed to accept joe biden as the nominee and not have any interest in, you know, robert f. kennedy jr. or marianne williamson -- >> that's where a third party candidate can disrupt this entire thing. ross perot had 19% of the votes back in the day k right? exit polls showed he would have gotten a 35% of the votes if people thought he could win. maria: we will leave it there. great to see you all, thank you so much. see you tomorrow, everybody. david asman in for stu. take it away. stuart: no, i'm right here, maria -- maria: stuart, how did you manage that? stuart: i didn't get much sleep, it's as simple as that. maria: stuart, you did a phenomenal job last night. congratulations. stuart: flattery is the mother's

milk of television. [laughter] good morning to you, thank you very much, indeed. welcome to "varney & company" coming to you today from simi valley, california. they were all chasing trump. seven candidates hoping to break through, looking for momentum leading to iowa and new hampshire. there were memorable moments, sharp exchanges. so who won, who stood out and who faded? throughout the show you'll see the candidates present themselves. to the markets, plenty of action. treasury yield still up9 setting the market. the 10-year now yielding well above 4.60, the 2-year way above the 5% level, coming up on your screen, 5.16 last time i checked. it's the up there. stocks mostly down again. it's been a weak month and a weak quarter. the dow's down about 8, but look at that nasdaq, down about 35 at the opening bell. now look at the price of oil. $93 per barrel this morning, continuing its march towards $100. regular gas average as $3.83.

now, that's nationwide. ooh, but california, we're now at $6.03 per gallon. that's the average in the golden state. [laughter] politics. the autoworkers' union threatens an even wider strike if progress is not made by friday. the president, he's stuck between his support for the union and his push for electric vehicles. the gop holds the first biden impeachment hearing. they will focus on bribery. on the show today, two gop hopefuls fresh from the debate, nikki haley and vivek ramaswamy. they clashed last night. we'll keep then separate -- them separate today. thursday, september 28th, 2023 the, "varney & company," the california debate edition, is about to begin. ♪ ♪ how do you like me now, now that i'm on my way? ♪ do you still think i'm crazy standing here today?

♪ i couldn't make you love me -- >> our laws are being broken every day at the southern border, every day. and joe biden and his crew is doing nothing about enforcing that that law. >> where's joe biden? he's completely missing in action from leadership. and you know who else is missing in action? donald trump. >> they need two-thirds less workers to build an electric car. >> i'm glad vivek pulled i out of his business deal in 2018 in china. that must have been about the time you started to vote in presidential elections. >> kids under the age of social -- under the age of 16 should not be using addictive social media. >> this is infuriating because tiktok is one of the most dangerous social media apps that we could have -- >> yes, or it is. >> honestly, every time i hear you, i feel a little bit dumber for what you e say. >> nikki offered a 10%, 10-cent gas tax increase in south carolina. talk about someone who has never seen a federal dollar she doesn't like. >> you got bad information.

stuart: okay. [laughter] those were just some of the highlights from last night's republican primary debate. that's where we'll start today. pete hegseth sitting right next to me. you had a front row seat in the debate. in your opinion, who won? >> not as front row as you with. [laughter] i agree with maria, very well done. you, you guys gave 'em every opportunity to break out, right ins the second debate with -- this is the second debate, same field. there wasn't a breakout after the first debate, so you've got to make a splash had the second one, and the questions you asked gave them every opportunity. i'm trying to look at it as objectively as i could, there just wasn't a candidate that stuck out and said that was a home run. and if you're going to make a 30, 40-point difference:, you -- differential, you need a big home run. i think desantis was steady and reminded people, hey, this was the guy who stood up during covid. will that be enough?

i don't think so. it was interesting to watch vivek shift his strategy and that whole debate stage come after him as a result. he was calling 'em all bought and paid for last time. stuart: that's right. >> this time he said they're all great people, let's abide by reagan's 11th commandment, and they were having none of that. stuart: do you think any of them can catch trump? >> no, i don't. we wish trump was on the stage, but tactically it's very smart that he's not. uh-uh mean, the other shift was interesting from desantis. he both had a good night, but with he also for the first time really turned his fire at trump said, you know, he should be here. he didn't finish the border. he's not where he should be on pro-life issues from his perspective. how does that a gain him more of trump's base? i don't see him. you've got to try something at this point. i think, to agree with something lee carter said on the previous program, the rnc should step in and say, hey, we've got to get this down to three, four candidates and find a way to bring trump in you want it to be

a real process. otherwise, the clock's ticking to those early primary states, and he's going to sail to victory. stuart: i think it was a successful debate in the sense it didn't get out of hand, is and you did hear opinions on the issues that count. in that sense, a success. >> and you got candidates talking to each other about their positions which i know was one of the goals -- stuart: well, the last thing we wanted was an interview situation. ask a question to the candidate, he responds to the moderator. you want them to speak amongst themselves. we got that to some degree. >> i'm not trying to reverse the script here, but i had myself thinking, what would i do in that situation? how did it feel to be there? stuart: to be the moderator? oh, exciting, intense and extremely anxiety-producing. >> i would imagine. [laughter] stuart: because you've got to control it, so you've got to step in at the right moment. times you've got to let them go, and sometime you've got to organize things -- >> i think you had a very nice balance. stuart: and a loud voice. >> yes, for sure.

[laughter] stuart: thanks a lot, pete. if you missed it live, you can watch the second republican debate on fox nation. there to you go. let's head across the country. important location, new hampshire. primary coming. lawrence jones is at the cooper door diner. lawrence, same question to you, who do the diners think won last night? >> reporter: yeah, it's interesting, they didn't believs on a well job, good job, stuart. they didn't think anybody won the debate, but donald trump, and he wasn't even there at the debate simply because the candidates didn't have that breakout moment. there was plenty of opportunities to focus on policy, the forgotten men and women. it seems like they were going at each other. you know, i related to a first date, you've got to have something where you're trying to get to know the girl, but you have to get yourself known as well. looked like they try to overdo it, talked about the other guy instead of what they bring to

the relationship. so i think it kind of harmed them in a way. stuart: you know, lawrence, you're the only man who could possibly relate the debate to a first date, but well e done, young man. [laughter] nice attempt. look, you've been talking to the diners, i know you have, i've seen you all morning. how many of them want trump? >> reporter: yeah, good proportion of 'em. a good majority of the folks here want him. look, it's hard going against the big elephant. i mane, they -- i mean, they did not focus on policy, and i think that harmed them. you can go after the former president and his personality all day, but i think when you're living under joe biden and 70% of americans feel we're heading down the wrong direction and he ran on the economy, he ran on the border, and he's just not delivering on it when it comes to joe biden, i think it's hard when the old guy has a record. and i think, look, people respect governor ron desantis. they like what he did in florida.

they love vivek ramaswamy and his fresh, new ideas. they love nikki haley from a national security standpoint. there are things they like about, they love tim scott's optimism about america. but it's not enough to undo the former president. stuart: interesting. lawrence, thank you very much for joining us. we appreciate it always. >> you got it, brother. stuart: check those futures, because we're going to go to the market. here we go. the dow -- i'm sorry, that's crude oil. that's important. so too is what you're seeing now, dow industrials opening with a small loss, s&p s&p down small but the nasdaq down about 30 points. adam johnson with us to cover the markets this morning. the markets down from the highs in july. i understand you are putting more money into stocks. why are you doing that when yields are rising? >> well, stuart, this is actually when you buy, or right? when stocks are down, that's when you buy. i'll be honest, i've been on edge over the past couple weeks, and it's specifically because stocks are down. and stocks are down because bonds are going up.

that's just the way it works. when the cost of borrowing goes up, that makes business more expensive, that makes everything more expensive for all of us, stocks go down. and yet, and yet, what i've learned, stuart, this is when you buy. when you're uncomfortable and say, gosh, things don't feel great, that's actually when you get your best bargains. stuart: we've got an impeachment inquiry into president biden, government shutdown as early as sunday. do either of these things matter at all to the markets? >> i don't mean to sound flippant, but in a word, no. i'll tell you why. we've seen this before, right? there have been 21 government shutdowns, stuart, in the past 50 years, and we always except through it. do despite all the protests and the anger, we just -- you know, washington walks away, but the rest of us drop our heads down, and we actually work harder. so the shutdown will come and go potentially this weekend. as far as an impeachment, look, donald trump got impeached and nothing happened. and bill clinton got impeached, nothing happened.

i mean, there seems to be this emerging pattern that that if you're a lawmaker and you're angry at the guy on pennsylvania avenue, you impeach him. and everyone debates and things get ugly, but ultimately nothing happens. just like the shutdown, we've seen this, we've seen this before. washington is a mess, stuart, but thankfully the rest of us across america are working hard, and we go about our jobs. [laughter] stuart: ain't that the truth? adam, thank you very much, sir. always appreciate it. see you again soon. thanks a lot. coming up, the border was a big topic last night. just watch this. >> our laws are being broken every day at the southern border, every day. and joe biden and his crew is doing nothing about enforcing that law. >> let's go back to remain in mexico policy instead of catch and release. let's go to catch and deport. stuart: question, was texas senator ted cruz satisfied with any of the candidates in terms of the border? he comes from a border state. he's here. senator tim scott, known for

his nice guy routine, did he come out aggressive enough last night? i'm going to ask his campaign's senior adviser. he's next. ♪ ♪ until you tell me it's over ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines.

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lot to prove on the debate stage last night. he moved closer to the middle of the stage but still lost ground to a few of the other candidates like vivek ramaswamy and nikki haley. but he came out fighting with a handful of fiery exchanges. he had some really great moments in the beginning of the debate, he got his first question of the night on the uaw strike taking a swipe at the president. >> joe biden should not be on the picket line, he should be on the southern border. i've got good news for every single child whether you're in the inner cities of chicago or the rural parts of iowa, america and the dream, it is alive. in america -- america is not a racist country. never, ever doubt who we are. [cheers and applause] we are the greatest country on god's green earth. >> reporter: so we wanted to include that second piece because it also showed his ability to move beyond just the uaw and talk about his experience as a leader. he also talked about other people's experiences leading, taking a stab at nikki haley

during a heated exchange. he addressed her spending during her time as south carolina governor. he also butted heads with ron desantis over the state's curriculum and race. you heard that sound bite talking about how he's had experience with discrimination in america, but that does the not make america a racist country. when you look at the debate, we looked at a lot of issues on the forefront of americans' minds,es historically high inflation, a southern border crisis, that issue addressing cities really across the country. scott had a lot to offer and a lot of fiery moments too. stuart: you said he lost ground last might. from what? >> reporter: between -- after the first debate. he had a lot to prove, but the reaction was he wasn't strong enough during the first debate, didn't get enough words in. so last night was an opportunity to make that chase. stuart: thank you, madison. let's see what matt gorman, senior advisor for scott's campaign, who happens to join me right now. do you think senator scott moved

the needle? i know what you're going to say. >> no, i think he moved it positively. he shared his vision for the country, why he's running, to restore hope, create opportunity, protect the america we love. and i think what you saw last night were some serious policy contrasts with his conservative record and some of the other candidates. and i was very happy he came across as a fighter last night. stuart: senator scott went right after vivek ramaswamy over his alleged chinese business ties. roll that tape, please. >> -- last debate he said we were all bought and paid for. and i thought about that for a little while and said, you know, i can't imagine how you could say that knowing that you were just in business with the chinese communist party and the same people that funded hunter biden millions of dollars was a partner of yours as well. >> nonsense. >> it's not nonsense. >> so, look -- [applause] i want to respond. these are good people who are tainted by a broken system. it's not the fault -- >> i think --

[inaudible] stuart: all right, matt, he had a few strong moments. was that one of them? >> that was one of my favorites, yeah. when vivek's going to call everyone bought and paid for and act like he's purer than the driven snow, he has ties to the chinese communist party, hunter biden's buddy, he needs to be call out for that. he was clearly rattled by it, vivek was, i was very pleased with how that exchange went. stuart the key here is the donors. after last night a's debate, do they put more money in, or do they stop giving? have you seen any response from the can donorsesome. >> i think they're still asleep. look, the donors are important, but we're focused on what are iowans, new hampshire, south carolinians saying across the country. we're going to earn every step of the way. we're excited to see their ponce. stuart: how do you feel about going to iowa in the middle of winter? >> i'm going to pack a parka. stuart: you've got a good ground

option there? >> we do. very experienced operatives there. look, every time tim goes there, he feels our momentum's growing. stuart: matt, do you think the senator has any chance of catching trump? >> i absolutely do. look -- stuart: there's a gap here of tens of points. >> but that's a national poll. thankfully, this isn't a national primary. at least half the republican primary voters want an alternative. and this is going to be decided in places like iowa, new hampshire and south carolina. stuart: the senator is not that highly ranked in iowa polls. >> yes, he is. he has upward momentum. he has a consistent third place and growing. we'll see where he is after tonight -- stuart: third place in iowa, way behind trump. trump's way out in front in iowa. >> that's not the true, and again, the last time we were at debate, i was here, jeb bush and donald trump were on the center stage the, scott walker was on the wings. these to polls are going to go up and down.

iowans are already tuned in, but as more folks tune in, i think senator scott's going to rise. stuart: if i said hope springs eternal, would you be insulted? >> hope is a strategy. what we have is a great message and an even better messenger. stuart: that's9 d -- matt, thanks for joining us. chris christie went after donald trump for not being at the trump. he gave him a new nickname, what was it? lauren: donald disturb. watch here. >> don, i know you're -- donald, i know you're watching. you can't help yourself. i know you're watching -- [laughter] and you're not here tonight, not because of polls, not because of the indictment, you're afraid of being on this stage and defending your record pro. you're ducking these things. you keep doing that, no one up here's going to call you donald trump anymore, we're going to call you donald duck. lauren: bam.

well, donald trump says, eh, i didn't want the debate, and he said, quote, anybody that would come up with that nick nickname shouldn't be running for president. but did donald duck land with voters? i mean, i had random people not affiliated with politics or the media send it to me this morning via text message. we'll see. i was listening to another network reviewing the debate, stuart, and an analyst on that said donald trump views these primary debates as a coronation for him. he doesn't have to participate. he feels he's won because the polls show that he has. while the remaining seven scramble for that distant second place and chris christie coming out with a nickname. stuart: well, trump is still out front by a large margin. lauren, back to you shortly. let's check futures this thursday, i believe. that's right, yes, it is. futures suggest we're pointing south. dow industrials off -- sorry. i've lost my -- yeah, we're down about 20 on the dow, 50 on the

nasdaq. the opening bell is next. ♪ ♪ baby, you're a rich man, baby, you're a rich man ♪

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stuart: a mixed picture on the futures market this morning. not that much price movement. the dow is down 27, the nasdaq's down 50. of david nicholas with us to cover the markets with us. all right, david, yield's up, stock market basically down this month and this quarter. why are you not buying 5% treasuries? >> well, stuart, i mean, we are actually. we like treasuries here, right, because of we run a treasury fund where 97% of the portfolio is treasuries yielding 5.5%. but, stuart, i think interest rates are going higher. 9 and the reason for this, this is why you want to stay on the shorter end of the curve, because of the ungodly amount of money our government is spending. just look at the numbers. $2 trillion in deficit spending this year. 50 president of -- 50% of all debt matures in the next three year. the government ising is to issue a lot of debt just to keep its

doors open. and with inflation remaining sticky, buyers of that debt are demanding higher interest rates. so i think rates are going higher. the market isn't going to like it which is why in our fund, fix, we're staying on the shorter end of the curve, because we think rates are higher. stuart: the 6-month treasury yields over 6.5%. i just don't know what's wrong with that. >> the market is not going to like interest rates heading higher, stuart, i was looking at the numbers. the federal government will issue over $280 billion of debt next month. why? because of the debt maturing can and to cover our deficit. this isn't going to stop. so if we think we're going to come in a month from now and9 rates are going to magically go down, they're not. this is where i think investors can really get hurt. if we think stocks are going to have a good couple months, i think they're not. look, i'm hopeful for the future, but why would you go out and take the risk of the market when you can get 5.5%, 6.5% in

our treasury fund in this is where money is going, stuart, but it's so important, stay on the front end because you can lose a lot of money if you buy 10-year bonds or 30-year bonds are rates higher. stuart: in 20 seconds, is there nowhere in the stock market where i can take advantage of much higher interest rates? >> look, it's tough right now. i mean, interest rates affect so much. the only sections that are doing well right now is energy. utilities are down, they're interest with rate sensitive. home builders are getting crushed. if you want with to be in the market, you've got to own energy and treasuries, in this my opinion. stuart: got it. david nicholas, thank you very much. the market opens in five secondses. even though i'm in california, i can see them press the button. there you go, sport fans. we're off, we're running, and the dow has a minor loss. 20 points down at the moment. wait a couple of seconds, wait for all of the 2030 -- dow 30 to open.

have we got it yet? we're about to. let's move on. the s&p 500 also opening lower but not by that much. 6 points down on a 4,200 index. the nasdaq composite, expecting to see some selling there. you're down 50 points, that's .4 #%. you better show me big tech because i'm sure most of them are down. they are with the exception of meta up one-quarter of 1%. look at a apple, $168. microsoft uses nvidia's a.i. chips, but we know that nvidia's had trouble keeping up with demand. lauren, what's microsoft saying about that? lauren: they're saying it's getting better, but i'm not sure that's a good thing because it's happening as red-hot demand for chatgpt is slowing down over the past three months. they run in the microsoft if azure cloud which is powered by nvidia chips. microsoft's chief technology officer, kevin scott, says the

nvidia chip supply is improving, but he did not comment on reports that microsoft is developing it own custom a.i. chip. and in that a case, they'd save themselves a lot of money. stuart: down $2 on microsoft, back to 310. i love costco. they sell everything. wait a minute, my prompter says they even sell gold bars. lauren: correct. too fourth stuart that's senator menendez, has that not something to do with him? lauren: no, unrelated. so this is a quirky, i'll call it a gimmick from costco, but it's super popular. online they were selling these 1-ounce gold bars for about $199 00 each. don't think you can go to costco and build your financial security. you have to be a member, and and you can only buy two gold bars if they have them. the gold bars that senator menendez is accused of accepting as bribes, 13 gold bars found in his home, completely different. you know, i'm thinking about this story. why would costco be in the gold

bar business? i think costco is keying in to the worries of the nation. they see the consumer, they see the consumer tightening their belts, worried about their financial future. when you're worried about your future and you have some money, gold would be appealing. by the same token, guess what costco is also selling? emergency food supplies, survivalist food kits. i think they're keying into how worried people are. stuart: i think you're right. good story. show me peloton, please. i think it's way up this morning. lauren: yep. stuart: yes, it is. 5%. why? lauren: 5-year deal with lululemon where peloton becomes the exclusive digital content provider for lululemon and its 13 million members. they'll have access to workout classes starting in november. lieu allow lemon, remember years ago they bought -- i had to explain this to you a million times -- they bought the mere -- mirror, it was a fitness coach. it wasn't popular.

they discontinued that. and now you see peloton, and that's why they're up so much. they're centering their rebound on partnerships. this time with hulu lemon, not -- lululemon, not as a stand-alone company or strategy. stuart: now show me gamestop. last time i checked, it was way up there. well, it's up 2.5%. they fired their ceo a few months ago. i guess they got a new guy? lauren: yeah, and it's the executive chairman, none other than the billionaire activist investor, ryan cohen. he owns 12% of gamestop, responsible for the surge two years ago when he joined the board: he will take no pay, by the way, as ceo, and investors are cheering that finally there is an executive steering this unprofitable ship after three months of having no one in that position. do you remember when gamestop hit $120.75 back in august of 2020 the? now 17 and change. stuart: in three years.

how about that. next case, the chipmaker, micron. down, that's interesting. chipmakers have been doing quite well recently. is there a problem here? lauren: guidance. they're forecasting a wider loss in this current quarter. there's weakness in pcs, and there's weakness in smartphones. so this demand recovery, let's say it's off to a pretty slow start. i think there's plenty of positives that investors are dismissing today the, but the analyst community is not dismissing the positive. demand for micron memory chips from the a.i. sector is very strong. the ceo says the price of memory chips has bottomed out, so that's a good thing. and ubs is saying buy them now. their price target is $76. ups thinks by the year 2025 it'll be a record year industry-wide for memory chip sales. stuart: by 2025. mote that, please. all right, lauren, back to you in a moment. check out the big board, in business now for just over five

minutes. we're up 60 points, 33,6900. dow -- 33,6 00. dow winners, headed by disney. it's the best performer. unitedhealth, walgreens, cisco on the list. s&p 500 winners, top of that list is trimble navy limited. not sure i know much about that stock. it's at 50. we have seib are rah -- zebra rah, i don't know -- freeport-mcmoran, emergency stock, got it. ross stores, paychex and tradedesk at the bottom of the list. it's a big show, and here's what we have coming up for you. president biden says, quote, nothing is inevitable in politics. that that's when he was asked about the looming government shutdown. roll tape. >> if we have a government shutdown, a lot of vital work in science and health could be impacted. the american people need our republican friends in the house of representatives to do their job. fund the government.

stuart: okay. we will get into that. house republicans set to present evidence against the president during the first impeachment inquiry this morning. looks like this is all about bribery. oversight committee member russell fry will be here. education took center stage in the debate. chris christie slammed public school system that he says is, quote, run by the teachers unions. former education secretary betsy devos responds after this. ♪ we're the kids in america. ♪ we're the can kids in america. ♪ everybody -- ♪

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north carolina, roy cooper, is a democrat. he slammed school choice, he said it threatens public schools. he even declared a state of emergency for public education after the republican-controlled statehouse supported school choice. so this is what's happening in knock. -- in north carolina. their budget will triple funding for the voucher program over the next ten year, and they will end income restrictions on that money. these other states have also endorsed universal school choice, or we'll pull them up for you, arizona, florida, ohio, oklahoma, west virginia. but they have republican governors, stuart -- stuart: and therein lies the difference. that's an intriguing difference, i must say. thanks, lauren. education was a big topic last night. here's a strong moment from chris christie. roll tape. >> this public school system is no longer run by the public, it is run by the teachers unions in this country. randi weingarten and her crew --

[applause] are absolutely strangling, they are taking the worst of their members and defending them rather than advocating for our kids. and when you have the president of the writes sleeping with a -- the president of the united states sleeping with a member of the teachers groups on, there is no chance that you can take the stranglehold away from the teachers union every day. they have an add a slow candidate for the worst of their teachers, not for our students to be the best they can be. stuart: personally, i thought that was a pejorative about our first lady. former education secretary betsy devos joins me now. madam secretary, do you want to see randi weingarten replaced? how could that happen? >> well, stuart, first of all, let me say kudos to you and dana for substantive questions on the topic of education. and i think it was clear last night that every single candidate on that stage is oriented around making sure students have the opportunity to

learn, not around protecting teachers unions and all of their demands. and the difference can't be more clear between what dem -- what joe biden and all of his, you know, cohorts in office have offered which is total focus bought and paid for by the teachers union, ceding to their demands versus focus on students and making sure that families have the opportunity to find the best education setting for their kids. stuart: but you could say that randi weingarten has been a successful leader of the teach teachers union mt. sense that she's won an enormous amount of money for teachers. not necessarily the students, but certainly for teachers. how could you get her out in. >> well, she actually hasn't done that well for teachers. when you look at teacher salaries, and this is a common complaint amongst the education profession, they don't really advocate for teachers and their advancement. they add a slow candidate for

hair -- advocate for their own power and their own access to resources to be used in the ways they want to expand their power and continue to grow the teachers -- the school unions as i refer to them. they're made up of members that don't even is have anything to do with teaching. so these are not really teachers unions, they are nothing but a political entity that is bent on doing the bidding for all of their members and keeping their power, not on doing the right thing for students and families. stuart: my colleague, dana perino, asked vivek ramaswamy about the fight over parental rights in schools. watch this, please. roll it. >> i have to be very clear about this. transgenderrism, especially in kids, is a mental health disorder. parents have the right to mow. it is not compassionate to affirm a kid's confusion. that is not compassion, that is cruelty. so i will ban genital mutilation or chemical -- >> moderator: okay, but i want to know, would you try to pass a

federal law that says parents should have that that right? >> we are going to -- states absolutely have to follow that through. stuart: madam secretary, should there be a federal law to protect parental rights? >> well, parents need to have the ability to direct their children's upbringing and education, and we should not need a federal law to do that. we should reaffirm what it always, what our founding documents and the constitution already say around the importance and the primacy of family. what we have seen in recent decades is a continued usurpation of parental control and parental power in all aspects of life but particularly when it comes to their k-12 education. we need to reassert that parents have that control and that right. and, again, the whole range of candidates on stage last night are going to do a whole lot more to insure that happens than joe

biden and all of his cronies have done. stuart: madam secretary, thank you very much for being with us this morning. always appreciated. thank you, ma'am. >> thanks so much, stuart. stuart: the governor of california, gavin newsom, declared, quote, the biden agenda as the clear winner last night. watch this. >> joe biden won the debate tonight. these guys identified problems. biden actually not only has identified solutions, he's gotten bipartisan is deals to begin the process of impolicemenning those. objectively, he was the winner tonight. stuart: california's steve hilton reacts to that a later in the show. ♪ ♪

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deal -- green new deal agenda is good for beijing and bad for detroit. >> i came out with an economic plan. eliminate the gas and diesel tax. cutting taxes for middle america and collapsing those brackets. let's focus on what it takes to get more cash in the pockets of workers. that's when we'll be able to deal with strikes like this, not sitting on a picket line like joe biden is. stuart: there you have it, the candidates last night talking about the economy. peter morici's with me this morning. of all those candidates, who do you think has the best plan for the economy? >> well, i don't think any of them has a particularly good plan. they're all talking about cutting taxes and rolling back regulation. that's motherhood if you're a republican. the country really can't afford a tax cut. it's foolish. look at the condition of, for example, the air traffic control system, what have you. everything's cut to the bone. it's all gone on welfare. this they're willing to deal with entitlements, we're getting no place on taxes. my feeling i have to ask --

stuart: i'm sorry to interrupt you, peter, but looking at social security, medicaid, medicare, that's the third rail of american politics. you even touch them and you're -- >> i know. stuart: -- you're cutting. >> right. so you have to ask yourself, what would they do. given the signals they've sent if they were president. my feeling is you can do a lot in kind of rolling back president biden's industrial policy policies. not all of it, but you can do some of it. but you really have to say then how are they going to deal with the china challenge, and the question is which of them is going to go to, say, passive devices. and by that i mean -- this doesn't sound very passive to you, but who would oppose a tariff just on china, a larger tariff say on their evs and so forth and then let the private sector kind of respond to the market signal they get from that. i come away with nikki haley. my feeling is she has a nuanced view of the international situation that the others don't have. remember, governors primarily

add a more federal programs -- administer federal programs these days. they understand the mechanization of the government sector, the mechanisms. desantis is this in crime, he is very good about that. but you ask him about the broader world, nato, the ukraine, china, he throws out some platitudes, throws some raw meat to the hard right about isolationist policies but shows no understanding whatsoever. haley does. my ideal president would be desantis the on domestic policy because he knows how to encourage growth and nikki haley on international policy. but we can't put people together that way. stuart: that's right. that's politics, you just can't -- can't wave a magic wand. >> is so i pick haley, because i think desantis would do a great deal of damage, like trump, in offright now. remove -- in europe right now. remove support for the ukraine? let's get serious. stuart: okay. i'm going to change the subject for one second. we're looking at a possible

government shutdown just in a couple of days. i get the impression that the market doesn't care. what say you? >> well, we've been through shutdowns before. think of it as a hurricane that hits the entire country. if you have a hurricane that hits, say, myrtle beach or the keys, it lasts a few weeks, then we recover. and we actually do more things in the process of recovering. if a shutdown lasts a couple of weeks, it really has no consequential effect three, six, nine months from now. we basically make it all up. the government does all the things it would have end done. unless we're dealing with a shutdown that lasts a month, two months, it's really not that consequential. also, the system has imi knew niced itself to this sort of thing. we've been through several of these things already. fitch and and moody's will go crazy but, look, everybody's rushing to american bonds. fitch is downgrading which is as significant as me saying, oh, i don't like joe biden. it doesn't move the markets at i all.

stuart: yes, very true. [laughter] peter morici, thanks very much for joining us. see you again real soon. still ahead, have you seen this? migrant withs pouring across the border with many more to come. tom homan's going to join us on the invasion of america. governor nikki haley, vivek ramaswamy, they clashed on the stage last might. they're both going to be here and so is texas senator ted cruz. the 10:00 hour is next. ♪ ♪ crazy, crazy, crazy til we see the sun. ♪ i know we only met, but let's pretend it's love. ♪ ♪

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