tv Cavuto Coast to Coast FOX Business October 20, 2023 12:00pm-1:00pm EDT
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kimberley: how many european countries established a colonial presence in what is now the united states. todd: number 2, four countries. kimberley: that is what i was going to go for. let's get the answer if we can. between 1500, 1867, spain, great britain, france, sweden, russia. we are out of time. coast to coast starts now.
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david: we are following two hugely important stories changing by the minute. we will bring every update him a congressman jim jordan appears to again have fallen short. this is the third time as the house of representatives makes yet another futile attempt to elect a speaker. until there's a speaker congress can do nothing to advance legislation or funding and that includes funding for the war israel. as israel pretends for a potential confrontation that spilled beyond gaza. i'm in for neil cavuto, thank you for joining us, our top story, another failed attempt to vote for a speaker wrapping up on capitol hill, chad pogrom live on capitol hill.
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>> reporter: jim jordan thought he was going to do better, he did worse. he's going down in flames. he lost 22 ballots, voted on speaker on thursday, he's down to 25, brian fitzpatrick, republican pennsylvania, kane of new jersey and mark molinaro, republican from new york. they are tabulating the official ballots. patrick mchenry, acting speaker pro tem , i spoke to kevin mccarthy, former house speaker and asked what is next. and have a conference meeting probably around one:00. it is unclear what they are going to solve. by the time they have these meetings. yesterday morning, let me tell you how much whiplash there's been on capitol hill.
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they had a meeting at 11:00. prior to that, the plan was to go into the floor and look for jim jordan, that supposed to be the third roll call vote. they had a meeting and jim jordan said he was behind the plan to elect patrick mchenry, the speaker pro tem, so he could do things on a more permanent basis and get the house running. jim jordan dialed back from that and said i want to go to the floor, there was not a floor vote last night. they came out and said jim jordan was going to have a press conference. he had one at 8:00 in the morning, he indicated he would be able to gain support. they went to the floor and he lost three votes. everything they said they're going to do they have changed and jim jordan continues to bleed support. he does not have the votes unless something dramatic changes to become speaker of the house.
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i say it's about the math and the equation does not work for jim jordan. david: there is no agreement whether to extend the term of the current pro tem speaker, right? >> reporter: he has no power in this position. what the house is done in the past, and there's precedent for this, they can vote to make him the speaker pro tem. there's a bipartisan resolution, from eastern ohio, that means a simple majority, that would give him the power to basically run the house. they did this in the 1960s with sam rayburn when he got sick, the house was operational. david: i wasn't born back then. we are big liars on that front. thank you for your reporting.
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top story, israel on the brink of going into the urban battlefield of gaza, evacuating a city near lebanon. mike tobin is on the ground in israel with the latest. >> reporter: israel's defense minister says getting rid of hamas comes in 3 stages. the first stage is military. it will get worse, it will take a long time and be hard on everyone. he says the second stage will be less intense, involve finding pockets of resistance and targeting them. the third he described as disengaging from the gaza strip. when israel is no longer responsible for power, water and crossings into gaza. that being said we are two weeks out of this massacre of october 7th and we had an opportunity to speak with an israeli commando, american born, can't show you his face but he tells us what it is like to fight in his own neighborhood.
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>> what we did was anywhere from the gaza border to the settlement itself, when we identified terrorists coming in or going out with hostages. >> that complicates things if you can't call in an airstrike. >> if anyone has civilians with them, children, women, things like that. every attack has to be precise. we had times we went into a place and the terrorist was just as a soldier in order to confuse us and surprise us. >> reporter: you don't make an instant decision. >> shoot or be shot. on a prior support officer but because of the whole complicated situation going on over there, it took on an aspect of rescuing civilians. >> reporter: rescue is not what you are trained for. >> even though we trained for we didn't expect something like this.
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this wasn't war, this was complete massacre, burning bodies, people being dragged through the streets, this wasn't war, this was a massacre. >> reporter: have you had any time to deal with the emotions of what you've been through? >> we been preparing for what's coming ahead and i'm trying to make it out to the other side, later we will have time to think about what happened. >> reporter: this commando says fighting in gaza will be one thing, the northern front opens up, hezbollah will have greater access to weapons and supplies. david: thank you very much, please take care of your self, thanks for your reporting, president biden calling for americans to stand behind israel and ukraine, making the case for tens of billions of dollars in new aid, serious questions about the strength of messages. >> president biden: we mourn
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every innocent life lost, can't ignore the humanity of innocent palestinians who want to live in peace and have an opportunity. iran is supporting russia in ukraine, it is supporting hamas, we will continue to hold them accountable. david: former national security adviser victoria coates is here with more. good to see you, thank you for being here. we are in a time of war. even though we don't have troops on the ground in israel or ukraine as of yet, we do have americans being killed in the middle east. we don't know how things are going to explode in ukraine. we need a strong commander in chief in times of war. do we have one? >> good to be with you. in this difficult time i would at we do have sailors on the water in the eastern mediterranean. we are close to that conflict.
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unfortunately the commander-in-chief sounded anything but commanding last night. he sounded uncertain, he sounded confused, had trouble with his teleprompter. what we need is a resolute message particularly to our greatest ally in the middle east, israel, that america stands strong. for israel, it is israel and america or israel alone. david: he did mention last night iran but the question whether his words match what he has actually done in terms of sanctions. we know sanctions were eased for iran to collect tens of billions of dollars more in oil revenue than they had at the end of the trump administration when there was some dealings with sanctions with regard to un sanctions that were expiring, the us would put more but when it comes to oil revenue it wasn't anything serious what white house did this week to stop them from getting this coil bonanza.
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>> not at all and the horrific events of october 7th are the wages of the tens of billions as you said that poured into the islamic public -- republic of iran since biden took office. if that's holding them accountable i don't think they should continue to do it, they should stop doing it and this is all everyone should be clear because they have refused to enforce the sanctions we placed on iran to cut off that revenue and when we cut it off, there wasn't a spike in terrorism, didn't have the resources, we need to get this cut off again, the president announcing another hundred million for the palestinians when he was in tel aviv and continuing to not force these sanctions is outrageous. david: about the so-called humanitarian aid, we know it is a well-known secret is aware that some of that money in the past has bled into hamas, some people suggest there is not a dime that comes from international aid that hamas doesn't get its hands on when
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it comes to aid to gaza. is there anyway there could be guarantees from this white house that humanitarian aid to gaza won't be challenged through hamas's hands? >> no, and follow the numbers. during the trump administration we cut all that funding and there wasn't a spectacular terrorist attack. biden has poured a billion into palestinian causes in the last 2 and half years and here is the attack. on top of that, you probably saw they announced they are going to relax sanctions on venezuela so they can get more venezuelan oil on the market and i point out, nicholas maduro, dictator of venezuela is every bit as anti-american as a supreme leader as putin is, pouring that money into our own hemisphere, this is a deeply dangerous trick to play with oil markets which is also playing with american security. david: energy is such a deep
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part of this whole story, we talked about iran's oil bonanza but president biden's domestic war on domestic oil and gas production is a big part of this. many people say that's why oil prices have risen so much to give russia more war money, more petrodollars for their war and the same with iran. now the biden administration seems to be changing its tone a bit. they just approved a major pacific northwest gas pipeline. i'm just wondering if they realize that we are in an energy crisis at home because of the war on fossil fuels and may be pivoting now. what are your thoughts on that? >> like most of their gestures in this area it's too little too late. they started by canceling keystone. that was the original sort of sin of all this and we are still trying to recover from how that set us back. i was lucky enough to be in oil
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city, pennsylvania last night for the drakewell energy conference, first oil well drilled in the united states. wonderful part of the country and some of our producers, pennsylvania could quadruple our natural gas production, already number 2 in the nation if they would just ease the regulatory burden. we could be flooding the market with oil and natural gas, bring prices down, keep americans energy secure and instead approving up pipeline that years out, we are energy vulnerable here at home and it is inexplicable. david: than the problem of what if there is an oil embargo like you saw in the 1970s, those long gas lines, it was a huge mess for the united states and the world. if iran does something like that we were hoping to rely on the strategic oil reserve but the biden administration cut that in half going into the 22
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elections, spending that to lower gas prices. now they don't have the money to fill up the reserve again. we are in a tight spot. they say they have upped the price to $79 a barrel, we are never going to be able to purchase oil at $79 a barrel. >> the disruption potential from the middle east especially given the fact that they have been allowing 3 million barrels a day of iranian oil to come to market, the markets rely on that product so if you take that off the line because of war or whatever disruption to iran we are going to see a spike and they are rating the spr like a piggy bank, just shameful and what i also don't understand is earlier this year when prices were low, in the original range of $68, $72 a barrel to replenish they only bought 4 million barrels, didn't replenish the stockpile
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and instead they are trying to go up to 79, putting the burden on american taxpayers but with prices at $90 a barrel who is going to take that deal. david: prices are going up even more. great to see you. appreciate you being here, switching back to breaking news, jim jordan has officially lost to be house speaker in the third round, there may yet be more. florida republican congressman carlos jimenez just voted for kevin mccarthy for speaker. i don't need to tell you everyone is wondering why. congressman mccarthy is the one who nominated jim jordan today. what do you have against jim jordan? >> nothing against jim jordan. what i will not participate in is the drive-by shooting that happened two weeks ago when 8 republicans join 208 democrats to remove kevin mccarthy.
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david: that is over. kevin mccarthy has buried the hatchet. he nominated jim jordan today. is that history you can get over with all the craziness in the world that we've been talking about so far? >> i have other issues with jim jordan now, the threats that have been leveled against people that voted against jim jordan, the pressure tactics of jim jordan. i don't believe at this point that jim jordan can unify the party. yesterday he tried to get the house open again and couldn't get his own people to vote for him. i have issues with his ability to govern. it's not just about governing one's side, got to govern all sides of this party, we need a unifier, not sure jim jordan is that gentleman. david: you think your actions are unifying the party rather than splitting it apart? >> don't look at me. david: we are because you are the one who voted against him.
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>> the one that has the most votes is kevin mccarthy, 210 that he got two weeks ago, 8 republicans, to put us in chaos. they want to point fingers, point fingers that those 8. david: you know the old ask pression forgive and forget. congressman mccarthy was the one who nominated jim jordan today and you are still focusing on something that happened a few weeks ago. americans are looking at the dysfunction in congress which is supposed to be run by republicans. it's not be run by republicans because a small minority including yourself are voting against unifying behind one speaker. >> we had a nomination for speaker. his name was steve jeffress, he knew he didn't have the votes so he dropped out, jim jordan
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probably get less votes now than steve jeffress was going to get, we need to find the right speaker. i'm not saying it's going to be kevin mccarthy but the right speaker must be somebody who can unite us all. obviously we are not united at this point. we were united two weeks ago, we need to find somebody like that in our conference and i'm sure we can. this is not going to get any better for jim jordan. is going to lose more and more votes as we have more and more rounds. he is not going to be the one. he needs to step aside. let us find the one. i'm willing to move on. david: apparently you are not because you voted against jim jordan even though mccarthy, the guy you supported nominated jim jordan. you got to see it makes no sense, that's why people are asking why are you doing it. makes no sense to most people looking at this situation including congressman mccarthy who you voted for.
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>> it makes no sense to you but at the end i will vote for the next speaker of the house and it will be somebody probably not named jeffress or jordan or even mccarthy. david: a lot of people just wonder what it is you have against jim jordan at this point. must be something. >> i think i told you there's been a pressure campaign by the jordan people and jordan supporters. david: in terms of a death threat. >> there's been death threats. david: from jim jordan. >> came from his supporters and -- david: you know how the internet is and all sorts of things happen. threats being directed by jim jordan? >> are we having an interview? david: i'm trying to ask questions and i'm not getting clear answers. does jim jordan specifically
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behind these charges? >> jim jordan has taken steps to stop it. i've even seen some ads from jim jordan saying there are some of us that are stopping him and please call us and support, etc. etc. it's getting out of hand. i will give an instance of what happened yesterday when we wanted to reopen the house, jim jordan was unable to bring the house together to get that simple thing done. he couldn't get his own supporters to do that. he can't even get that done, how is he going to unify this house. we need someone who can unify this house. i'm willing to move on but i don't think that individual is jim jordan. we have a difference of opinion and so be it. that's america. that's what makes america great. david: america is 1-of-a-kind, we love it but we see a lot of dysfunction in congress, right now the world on the edge of war, we need to come together.
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david: are we looking at housing recession? september home sales falling to the lowest rate in 13 years as mortgage rates continue to rise. brandon arnold is here in new york, and gary kaltbaum joining us. from a 5-year, 10 year rate, that's a scary thing not so much for shavers, they are happy they can put money into a safe bond for ten years but mortgage rates are in danger of going over 8% when you have a 5% 10 year, real estate market essentially frozen. could we be heading into a housing recession? gary:it's baked in the cake, the tenure was under 0.4% at
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the lows because of one man and his whims printing trillions of dollars to purchase bonds to take rates down to 0. who would want to trade a 3% mortgage for 8% mortgage and that is why you're getting a stalling across the board. who wants to purchase a new home and get 8% mortgage, who wants to purchase a used home. i go through a lot of cities. there's nothing moving. the next thing that will happen, there's going to be a lot of moving and a lot of selling and a lot of inventory which means prices come down and come down quickly. all from one man, jay powell, printing $9 trillion distorting everything and now we have a housing problem also. david: the fed for the moment is leaving interest rates to the market and the market pushed the tenure about 5%. it's a little lower than that
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today but the market sees some tough times ahead. you see interest rates that high, that is what that means. >> how could we not see tough times ahead. average homebuyers are facing a crisis. they can't afford to purchase homes. until we have more supply and produce more houses, new housing construction increased slightly this year but we need more houses. that's how we will get down prices and allow homebuyers who are facing the brunt of this problem to have access to the american dream. david: retail sales aren't down to nothing, we are not in a recession. they have come down a bit but i'm wondering if two wars, the president wants to pay another hundred billion dollars for which would be a lot more than that eventually, 8% mortgage rates might not change that retail scene.
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what do you think? >> let's not forget credit card rates skyrocket also. i keep hearing about retail being great because people are spending but don't get a charter credit card usage. it is skyrocketing, it has gone vertical, looks like the eiffel tower and add the interest rate portion. i think it's only a matter of time before, i hate saying this, just dealing with what i see i think we will hit the wall on retail sales also going forward and that is where i worry that we are right at the edge on the economy undertake -- won't take much at this point, rates more than prices. david: today we saw gold go above 2,000 announced, hasn't done that for a long time, what does that tell you? >> looking for hedge in an uncertain market and that is why we need more stability out of this congress out of this president, we've gone haywire, shown an ability to govern and
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>> every parent who send kids to columbia university and trusted their kids and their children's safety with us. i want this message to get to every parent in america who send their kids to nyu, to harvard, stanford, i want you to know one thing, we cannot protect your child. david: a university professor slamming the school's leadership for staying silent during the anti-israel
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demonstrations on campus, pro-hamas, that's the color. lydia is at columbia university with more on this. >> reporter: that professors calling the president of columbia university a coward, for failing to condemn the student protests that have been happening on campus that he said showed support for hamas. a appellate any in protest and counterprotest supporting israel faced off just last week, that proctor the university to close the campus to the public and demonstrations like that have continued across the country, more are planned for schools today like at stanford, perdue, and others, students we been speaking with at columbia university say tensions are high, watch. >> i think it is just like a different vibe on campus. it's very low energy almost and a little bit hostile.
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>> you can see the touches are higher on campus. >> i've never felt unsafe before. i've never drawn any contemporary comparisons to the holocaust or anything like that and i will say now this is the time for those comparisons to be made. >> reporter: donors are threatening to close checkbooks to be universities and i believe schools, columbia university here is postponing its annual day of fundraising. it is called columbia giving day and it was supposed to happen this coming wednesday. now it is postponed, that day, raise $29 million to the university. we reached out to columbia for the professor's comments and an explanation why they are postponing columbia giving day, no requests that is no response yet. there was another gathering of students, it is called a vigil for palestinian lives lost. we will stay on top of it and
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follow it and bring you the latest. david: appreciate it. you are senior fellow at the foundation for research on equal opportunity. what we are seeing is the underbelly of something that has been going on for a long time and a lot of colleges where departments are essentially run by radicals, people that have a very radical view of the world. we had a stanford lecturer, don't think it was a full professor but he was suspended for actually separating jewish students in his class, sending them to a corner of the room separated from what they had on the table so he could show how they were colonizers. things like that are going on all over the country and we didn't realize it until now. >> polls are showing more and more americans are losing faith the know for your college education is actually vulnerable and americans losing confidence in colleges and universities to do the right thing and universities can
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ignore all the political extremism and sometimes outright anti-semitism that's going on other campuses at their peril. i think there's a direct line between these protests you see going on, these displays of political extremism and outrageous behavior some professors and students and the declining confidence in higher education we are seeing among the american public, the two are connected and universities need to wake up and realize they are creating an ideological climate on campus that's hostile to mainstream views but very welcoming to political extremism. david: donors signing letters saying they will never contribute again to universities, the university of pennsylvania, it's happening to all the ivy league universities where this is happening. will that be enough to have them seriously reorganize some of their classes in classrooms? >> we will have to see. money is a language university
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administrators do understand and we see people like the huntsman foundation and others will their donations from ivy league universities but the university of pennsylvania has a 20 one billion dollar endowment, columbia has $14 billion endowment. it will take a very major donor revolt to get universities to feel the pain in their wallets and donors out there, these universities have multibillion-dollar and downs, you giving them more money is not very useful for the good of humanity, it could be your -- more useful to light that money on fire. david: thank you very much, appreciate it. tensions intensify in the middle east, rockets and missiles are hitting american bases in the area. we are talking to congressman mike waltz after this.
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david: while gaza weathers another they have heavy strikes, israeli forces prepare for ground offensive as president biden calls for immediate aid. congressman mike waltz joins us now. good to see you, thanks for being here. we already had 32 americans killed in israel. we have a dozen americans being held hostage by the terrorist hamas group. we are already in it in terms of americans who have been affected by and killed by, how does it expand from here and what more might we do? mike:we have a dozen missing, still working through how many are actually being held that we know are alive and being held
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hostage and it is an awful situation. number one, they need to be first and foremost, number 2, my biggest worry is iron dome running dry. we know hamas and hezbollah seek to overwhelm the system with dumb bombs and rockets like the one that hit the hospital. they often malfunction but then to come in with a precision guided so we need to be there to help israel but the bigger picture and where i was so disappointed in the president's speech, on the one hand saying we know iran is behind this and they are behind a lot of what russia is doing in ukraine with their drones but no shift in policy, no consequences, no you better knock it off or else in terms of trying to deter them. my position again and again to this white house will be even if israel is successful in knocking down hamas or taking
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on hezbollah, as long as iran is flush with cash, they will reconstitute them again and this cycle will never stop. david: iran is clearly behind this. even the administration, don't know if they say they planned and participated in the massacre on october 7th but at the very least have been funding, hamas wouldn't exist without iran and they throw money at hezbollah and are not paying any price. last night the president suggested they may pay a price in terms of sanctions the un had but ended but nothing serious about ending that oil bonanza they spent on hamas and hezbollah. what more should be done to show iran we are serious about stopping them from funding all this? >> we have to go back to all aspects of maximum pressure.
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and other data point, at the end of the trumpet ministry and foreign currency reserves were down to 4 billion, now they are up to 70 billion. you mentioned oil down to a few hundred thousand barrels a day, virtually nothing, now it's a record high pre-covid 4 to 5 million per day. there's a lot we could do to enforce sanctions on the book, secondary sanctions we could do whether it is banks in hong kong or elsewhere that are facilitating all this. we know how to clamp down. we can stop the waivers, stop turning a blind eye, and cut off the cash that is going to terrorism. david: i want to switch to jim jordan and his third unsuccessful try to be speaker. i had congressman jimenez who voted for mccarthy against jordan again today even though mccarthy put jordan's name in as the next speaker. when and what is it is to turn
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naysayers in the republican party around to support jordan? mike:i will be with jim jordan as long as he stays in the fight. at the end of the day no there are no differences between him, mccarthy, jeffress that pale in comparison to our differences with the progressives or america's differences with those terrorists that are holding americans hostage. we need to get over it. i understand there's a lot of frustration, hurt feelings, what have you but we need to get behind a speaker, jordan won the majority of the majority behind closed doors and we need to get on with the nation's business, we are the only ones that will push this administration to do the right thing. brian: congressman jimenez suggested jordan might be behind a hate campaign on the internet against the naysayers. what do you say to that? >> of these threats that are going after other republicans are serious, they've got to stop, jim jordan has called for
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to stop. he is a good man, an honorable man and i don't think he's behind it at all. david: thanks for your service in the military and in congress. time to check in with jackie deangelis and the big-money show to see what they have coming up at the top of the hour. >> and israeli ground invasion could happen at any moment. we have the latest on the ground plus the president addressing the nation asking $105 billion for ukraine and israel but that is happening, jim jordan has lost his third vote for speaker. senator roger marshall and larry kudlow will be here on coast-to-coast after this. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. voya. well planned. well invested. well protected.
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david: is real ordering residents to evacuate as tensions continue to intensify. former is really ambassador michael warren joins me now. our best wishes go out to you in israel and all of us under the gun right now. you were aws/israeli citizen, had to give that up to become ambassador. since you were one you must have special feelings for what
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happened to the families of those whose dual citizens were killed in israel on october 7th but those still being held hostage. talk about that for a little. >> reporter: good to be with you and thank you for your support. a piece of paper called passport doesn't make me less american. you hear from my accent. i heard about american citizens just visiting relatives, citizens of the united states, some on the year program, some of those children and kids and young people at the rave concert where these terrorists shot 260 young people to death and tortured and raped ambulated a great many others. among them americans and they have the hostages. generally speaking we don't know a lot about the hostages. the parent of the hostages and they have this minimal sort of
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freak thing happening. i visited one mother whose daughter was held hostage and hamas released one video. a dual israeli french citizen, to the president of france. congress is aware of the various nationalities and a whole spectrum of nationalities of the hostages and we use it as a tool. palestinian fighters as a human shield, hostages are the next shield. we need a better shield than palestinian civilians. david: they are trying not only to terrorize the people they are holding but the families and the nation of israel, what do you think of the propaganda
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in the united states, pro-hamas propaganda on college campuses, members of u.s. congress? michael:it is staggering, stunning, horrific. the new york times, during the hospital bombing this week, today after israel introduced this evidence that it was a palestinian rocket that hit the hospital, they have recordings of hamas commanders talking about it and the united states, the pentagon, the state department came up with its own list of evidence. at the end of that, and the word of a terrorist organization, the word of isis, hezbollah, al qaeda, that is extraordinary. they put up a photograph of a bombed out building.
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you see this is the hospital. it's a different building in a different area. the bomb didn't hit the hospital, it hit the parking lot. really. david: let me ask about israel and whether you received pressure from the united states, this attempt to make an incursion to kill hamas. michael:not that i have seen, the united states holding down civilian casualties, a humanitarian core door. what happens after we get so much out of hamas. david: we've got to leave it at that. stays strong. more cavuto coast-to-coast after this.
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