cautious on the consumer than we were 90 days ago at this time. maybe some -- [inaudible] in the armor for consumer. >> maria: we will be watching what happens next. we will have barry knapp on tomorrow morning with his research, always spot on. final thoughts from you? >> i think i mean we're going to see this holiday season how consumers spend money. i think that's going to foreshadow what happens over the next year. >> maria: lee carter? >> i'm looking at the changing landscape of the voter. i think with all of these protests, you saw what happened in d.c., we are seeing the democratic party is fractured. 62 percent of voters under age 45 don't approve of president biden. i think anything can happen now in that party. >> maria: special guest tomorrow morning newt gingrich. he will be here live. don't miss that. thank you so much. great show. have a great day everybody. see you again tomorrow. varney & company picks it up. >> stuart: good morning marie and everyone. this show is about poll tings

and -- politics and money. we have news on both. i have a preference for politics. the news fox poll shows a remarkable trend biden down, trump up. the president's popularity rating hits a low of just 40 percent. his disapproval rate is growing among key voting groups. he can't win like this. trump, on the other hand, has a growing lead over his g.o.p. rivals. he's preferred by 62 percent of republican voters. he's 48 points in front of desantis, 51 points ahead of haley. that g.o.p. field has got to shrink. all right. the big money story this morning comes to us from walmart. strong profits and a strong outlook, but they didn't meet those expectations. the stock is down sharply. walmart is a dow stock so that's hitting the industrial average. at this moment premarket the dow looks for a small gain -- a small loss, just down 30 odd points, fractional gain for the s&p, same with the nasdaq. interest rates, little change. we have the 10 year treasury coming in today at 4.46 percent.

it's come down a bit today. the two year down also at 4.84. bit coin, 37,000 bucks and change. it is now 36,8 -- okay. gasoline, 3.34 for the regular is the average. ten states under $3 a gallon. oil $76 a barrel. roughly 76 -- precisely 76. let's get into politics. platitude from the biden xi meeting promises on fentanyl, on climate, agreement to re-establish mutual communication. later xi addressed a room full of very rich american capitalists. musk was in the room. he enjoyed a cocktail but left before dinner. you can call this a tale of two very different demonstrations. 300,000 peacefully supported israel tuesday. 150 pro hamas demonstrators attacked the democrat national committee headquarters in d.c. last night. the building was evacuated. six police officers injured.

peace violence, tells the whole story, doesn't it? on the show today, we will take a close look at the president's physical and mental abilities on display at the san francisco meeting. xi jinping saw a president in decline. for our president the optics were not good. thursday november 16th, 2023, varney & company is about to begin. ♪ ♪ >> stuart: let's get this morning started. antiisrael protests in d.c. took a violent turn last night. tell me about the chaos. >> stark contrast with the march for israel. this one was outside the dnc headquarters in washington. yes, it did turn violent. six cops were injured. they were punched. they were pepper sprayed. a mob of about 150 pro-palestinian protesters are demanding cease-fire in gaza. they got rowdy. they forced capitol hill into

lockdown. one of them was arrested. this is what the protest organizers say. they were not being engaged with. they were met with police force. and many of the protesters were injured by police. he said/she said. >> stuart: that's their story and they are sticking to it. let's switch gears. let's get to the election. new fox poll just released start with the republican nominee preference. >> three polls, the first one, republican primary voters overwhelmingly -- these numbers are huge pick trump. he got 62 percent support. 48 points ahead of desantis as you can see here. 51 ahead of haley. tremendous lead. okay. here's the second poll. if trump is up against biden, trump wins 50 to 46. watch this. if the nominee is not trump, desantis also beats biden and haley beats biden by 11 points, 52 to 41. third poll: biden is losing ground in unexpected places, the

black vote. now, this is a vote -- trump got 12 percent of the black vote back in 2020. he's now up 15 points with black voters. he's up 13 points with hispanic voters. eight amongst suburbanites and 21 points among independents who often decide the election. my opinion for that latter poll is bidemonics is not working whether you're a mom or living in an inner city, your paycheck isn't going far enough. the president is campaigning on inflation, basically. >> stuart: fair point, he's also rather old. next monday he's 81. look who is here now. lisa booth joins us this morning. trump, desantis, and haley, all beat biden in head-to-head matchups that's astonishing. how loud are the alarm bells ringing in the white house? >> i think they are ringing loud enough to have people like david axlerod taking shots at joe

biden like he did recently or gavin newsom sort of measuring the drapes and trying to potentially get out there. i think there's some real concern on the left. my concern from the right is that we're looking at this election and operating off of the assumption that we're going to have a normal election cycle. when's the last time we had -- >> stuart: that's for sure. >> are we going to see the liberals in the supreme court leak another draft opinion to get women on abortion in the midterm elections? will we see democrats weaponize another virus like they did with covid with the electoral cycle and how we vote? we can't operate off of the fact that we will have a normal election cycle particularly when they are trying to send the leading republican nominee to jail. >> stuart: so far though he's gaining support perhaps because

the trial certainly new york city is obviously unfair. it's a political trial. i think he's gaining support because it's seen as unfair. >> i mean, of course it is unfair. we have seen what they have tried to do to him from the beginning. i mean it is evil what they are trying to do to him, but it doesn't mean it is not going to work; right? and so that is a real concern about what they're trying to do to donald trump. i think in part because joe biden is so weak. i mean, what they are trying to do is they want to tie donald trump up so he's spending the bulk of the electoral cycle, the general election cycle or republican cycle, you know, in court, trying to keep himself out of jail. and then also trying to tying him up financially so he's spending his campaign money on trying to keep himself out of jail instead of winning over voters. i think that's their strategy for the general election. >> stuart: i don't think it works. >> i hope it doesn't, stuart. it would be terrible for the country for it to work, but i think that's their strategy. given the past -- i mean, by hook or by crook mentality the left is. >> i think it's backfiring.

they are effectively giving mr. trump a platform, and he's not having to pay for advertising because they're doing it all for him. and in the process, the rest of us are saying hang on a minute. this doesn't feel right. it doesn't feel american. this may be the way it works in brazil or argentina or -- >> stuart: or new york city. >> or new york city, but it doesn't feel right. >> stuart: i agree. lisa? >> i think it comes down to what they do in these cases; right? you may have that sentiment but maybe that doesn't hold up to a jury. i don't know. i got burnt by the last midterm elections when based off of every historical indication it should have been a sweep for republicans and it wasn't because everything is different now. mail balloting has changed thing. everything has changed. democrats have gotten more brazen with their attempts to sway elections. i'm going to be over here being skeptical, being careful, and not trying to jump the gun on anything. i don't want people to be complacent. people need to turn out in

droves. i don't want to build any sort of false complacency. >> stuart: tamp down on the anxiety. >> i didn't get a lot of sleep last night. [laughter] i need more coffee. >> stuart: thanks for being with us. see you later. new york magazine thinks they know how the president can beat trump. what do they say? >> he writes selling bidenomics is biden's only chance to beat trump. incumbent presidents can't run away from the economy because they own the economy. were we better off four years ago? most people right now would say yes. he said that biden should drop out of the race because it would be nearly impossible for him to shake off these negative public opinions about the economy. so when you're running on bidenomics and people don't see that as a positive, your brand is off. so he needs to convince voters and the american people that the economy is okay for him to win. >> stuart: loads of polls, adam, show that the american people don't like the direction of the economy. even though unemployment is low

and the inflation rate is coming down. >> well, inflation is coming down, but it is still going up. that's that weird term dis-inflation. it is not deflation. it is going up less. if you are trying to sell bidenomics, you have a fundamental problem. let's talk about what it is. here's my definition, restrict and regulate. from banks and businesses to oil and mining, then offset the higher costs that result from all those restrictions with subsidies and handouts paid for with cash we don't have, financed by debt we can't afford. that to me is bidenomics that doesn't impress me. if you say there's a problem with that, yeah, you better believe it. bidenomics is a disaster. >> stuart: thanks, adam. quick check of markets. dow down 50 odd points. down 20 odd on the nasdaq. we need to cover the market with you. >> do we? >> stuart: you did say at the

top of the show i'm really a politics guy, not a markets guy. -- >> you did say at the top of the show i'm really politics guy, not a markets guy. >> stuart: inflation down -- equals a solid rally? >> i would make argument if it is higher inflation and higher rates that took stocks down over the past 18 months, that it is the opposite, lower inflation and lower rates that will help stocks go back up. we're still well below the all-time highs. i think there's plenty of room to run. i'm long as you know. i'm fully invested and feel good about that. >> stuart: you have done well over the last couple of weeks? >> i've done very well. rough six seven months leading up to two weeks ago but now that things have turned there's been acceleration. >> stuart: thank you very much, adam. coming up, president biden got tripped up when taking questions from reporters in san francisco. roll tape. >> i'm embarrassed.

i think it is cbs, but i can't remember who is cbs. i'm sorry. washington post, i think that's right. >> mr. president -- >> there you are, sorry. i couldn't see you in light. >> stuart: sorry folks, does anybody believe he can be president for another five years? don't answer that. speaker johnson called for key witnesses to testify under oath in biden's impeachment inquiry. ohio congressman jim jordan is leading the charge there. he's here to give us the state of play on the impeachment next. ♪ ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones.

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>> stuart: hunter biden's team is going on offense in his criminal case. what are they doing? >> they are trying to subpoena donald trump, the former attorney general bill barr, and two other former department of justice officials. it's part of the government's case against hunter biden for allegedly illegally possessing a firearm. biden's legal team thinks the entire probe is, quote, a vindictive prosecution, much like what is being done to donald trump on many fronts right now. >> stuart: while hunter's criminal charges play out in court, the congressional investigation into his business dealings continues, leading the charge there is congressman jim jordan who joins us now. congressman, what's the state of play in the hunter biden investigation? >> we've got a handful more depositions to do, stuart. we want to talk to hunter biden, talk to james biden who did all this business together, and we want to talk to his business partners, and then frankly we

just sent a subpoena to this kevin morris individual, the guy who stepped forward and paid hunter biden's like 2.5 million dollars in back taxes he owed, i guess out of the goodness of his heart. so we want to talk to him as well. the plan is to do those final depositions and then make a decision on -- in an impeachment inquiry. do we move forward with actual articles of impeachment? we will present this to the conference and make this decision a as conference if the facts warrant going into actual articles and moving into full impeachment of the president. >> stuart: they are both moving forward, albeit at a slow pace. investigation of hunter and the impeachment of president biden. it's going forward, but it is slow. >> yeah, well, the idea is to finish up all the depositions and the documents that -- we've got three committees working on it. you have the ways and means committees where the whistle-blowers came forward and told us about how bad the investigation was run, how unusual, how it was slow walked, the investigation into hunter

biden. then you have chairman comer's committee who are looking at the suspicious activity reports, the bank records. they have subpoenaed those. they are compiling that information. that's where we learned about the $200,000 check, the $40,000 check that initially came from china. they are working on that. our committee is digging. we have deposed seven different people who were a part of the hunter biden investigation. i think the overall picture stuart is pretty basic. this is, you know, a story as old as the hills, you have a politician who takes certain action that benefits his family financially, and then there's an effort to sweep it under the rug, to conceal it. that's exactly what we saw, particularly with david weiss, we saw him let the statute of limitations expire for the tax years 2014 and 2015 regarding hunter biden because those are the tax years he got all the money from the ukrainian energy company burisma. if he digs into that, that takes him right into the white house, to joe biden and his involvement in burisma back when he was vice president of the united states.

>> stuart: congressman, do voters care? because this has been going on for sometime, and there's a degree of impeachment fatigue, investigation fatigue. will this show up at the ballot box? >> our focus is not on how this may play one way or the other politically. our focus is on the facts. we have a constitutional duty to do oversight. we are doing that. we had whistle-blowers who came forward and told us what was going on with the investigation. we have the fundamental facts. i think this story is again joe biden's involvement with the company burisma. four fundamental facts with the ukraine energy company. fact number one, hunter biden gets put on that company -- puts on the board of that company. fact number two, he's not qualified to be on board. he said so himself he got the job because of his last name. fact number three, they asked him to help them with pressure they were under with the prosecutor in ukraine. number four, hunter biden calls his dad, his dad goes to ukraine and gets the prosecutor fired. more importantly he says if you

don't fire the prosecutor, he was not going to release the money that had already been approved to the president of the state department the loan money going to ukraine. he leveraged our tax money to get an outcome that benefitted his family. that all squares by the way with what the confidential human source told the fbi that was recorded in this now somewhat famous 1023 form where they lay out that fact pattern. i think that's central to the case. there are things that's being added to it that mr. comer and the oversight committee have been put together. it will be presented to our conference shortly and we will make a decision. >> stuart: a lot of us thought when the g.o.p. presidential field narrowed that support for trump would go down. in fact, it's gone up. he now leads desantis by 48 points and haley by 51 points. is he the undisputed leader of the republican party? >> heck, yes, and the polls that i think mattered even more than that are the polls that show him beating joe biden, and the reason that's going on is because americans are smart.

they remember how good things were a few years ago, and they know what's happened now. i mean, i always say we literally went from a secure border to no border. we went from safe streets to record crime. we went from $2 gas to 3, 4, 5 dollar gas. we went from stable prices to record inflation. then of course not to mention we projected strength from the white house under president trump, and of course today we have joe biden, and then finally, maybe the thing that scares me the most, and we spent so much time on this, how these federal agencies have been turned on we the people, whether it's censorship, whether it's the fbi going after pro-life catholics, whether it's the doj looking into moms and dads who are showing up at school board meetings. when americans step back and look at all that, they say man we long for the days where we had president trump who did what he said he was going to do and made things so much better in our great country. >> stuart: that was a good run-down of the major issues of biden, hunter, impeachment and trump. very good, jim. you should teach a master class

on politics. thank you very much for joining us. you should seriously. >> thanks. >> stuart: chip roy doesn't like the republicans spending plan at all. he's furious. >> he's furious. i would argue that he sounds like a democrat. he called the g.o.p. useless in this one-hour floor speech yesterday. we will show some of it. here we go. >> we're giving it away. all that they thought for, all of those freedoms, we are giving it away. why? because we're too cowardly to stand up and do our job. oh, no, a shutdown. are you freaking kidding me? oh, we can't have a shutdown heading into thanksgiving. what will they say or do? how about we stand up and fight? >> stuart: okay. >> we might have a shutdown. it might come january 19th, the first deadline under new speaker mike johnson, with the continuing resolution. he got a pass right now from the

house freedom caucus which chip roy is part of. he may not get a pass on january the 19th. >> stuart: okay. what a mess. okay. thanks very much, lauren. check futures please before we go to the opening bell. red on the screen, not that much. down 08 on the dow. -- down 80 on the dow. down 38 on the nasdaq. the opening bell is next. we will take you there. ♪ i have type 2 diabetes, but i manage it well. ♪

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>> stuart: three minutes to the opening bell. dow down about 100 points. now, show me walmart. i believe it is still down big this morning. yes, it is. down 6 percent. they reported strong profits and a strong outlook, but they missed the expectations. dr barton joins me now. ignore the stock price decline. tell me what walmart's report tells you about the consumer. >> well, they had one sentence, stuart, that got everyone up in arms in the pre-market trading, and they said that the coming quarter they did not have as much confidence in the consumer. that one sentence, they blew out numbers on revenues and

earnings, and they also did great on what we talked about two weeks ago. online sales were really up. i still like walmart. buy it on this pullback. >> stuart: got it. you brought some stock picks with you. let's start with tjx, which owns tj max, marshall's, home goods, you like them? >> i do. it is the same story as walmart. they announced yesterday, did great on every metric except for the fact that they said their current numbers in this quarter may be a little soft, but next year, they were looking really strong. they got punched down yesterday a bit to a place where i really like a buy for tjx as well. that discounter i believe is going to have a really strong beginning of next year. >> stuart: last one, linde, first of all, what do they do? >> they are an industrial gas

and engineering company. they are an investing in the real world pick stuart. they are going to help us into the next phase of the economy by providing all the stuff we need, not just for chemical processes, but for electronics and all kinds of places where you need nitrogen or [inaudible] to be able to use a torch. they do a lot of stuff and help people make their own as well in remote places. >> stuart: okay. we will follow it. dr, thanks for joining us. switch your attention now to wall street. nasdaq big board about to start trading if my voice holds up. it will. [opening bell ringing] >> usual story, someone will lean forward and press the button and trading begins on this thursday morning. the dow has opened -- press it please. the dow has opened with a loss down 100 points -- 111 points.

down 101. okay. you've got half the dow stocks are up and about half are down. no real clear trend in the very early going. s&p 500 also opening lower, but again, not by much, .1 percent. that's nothing. dead flat to slightly lower. nasdaq composite also same story, flat to slightly lower. -- wait a minute. down about one third of 1 percent. not exactly flat. >> over the past seven to ten trading sessions the markets are up 7, 8, 9 percent depending upon which index. a little breather is just fine. >> stuart: we saw them just momentarily, apple, microsoft, alphabet up, meta amazon down. who is bullish on microsoft? >> dan ives of web bush. he says shares are going up.

he says because of art official intelligence, putting some numbers on it. for every $100 of the cloud spending that microsoft gets, 40 of that will be for ai. so microsoft is adopting and monetizing chat gpt. that's just a cycle, a transformative cycles. >> stuart: i have a thin sliver of microsoft. >> i didn't know that. thank you. >> i think we should all have a thin sliver. maybe even a fat one. >> stuart: wish i had a fat one. cisco systems, they were sharply lower earlier. they're still sharply lower. what's the problem? >> down 13 percent. they cut say else that forecast. here's the problem, customers are still implementing their older orders that they just received, so cisco is shifting to software and services that's recurring revenue, but they acknowledge, look, corporate budgets are tighter than they have been because everybody is clamping down a little bit. stock is getting killed. >> stuart: yes a big drop there. >> i done own it, but -- i do

don't own it but i'm thinking of buying it as a dip. customers are saying we want to shift how we pay you which means cisco needs to change the way it recognizes revenues and may need to push revenues farther out as customers stagger their payments. i'm okay with that. >> stuart: a slightly artificial problem. >> i think so. >> stuart: retail earnings this morning obviously walmart the big guy, so what more have you learned from their report? >> i think dr nailed it. it was that one sentence softer guidance, cautious consumer, but over all, it was a great report. we're not talking about your grand father's walmart. it is more modern. even rich people shop at walmart because you can get great prices. you can buy groceries. they are selling to everybody, and wall street is focused on their softer guidance that covers the holiday period. look, many people will go to walmart and buy the ingredients for their thanksgiving meal there. their same-store sales grew over 4 percent. the issue is, that 4 plus

percent growth is half of what it was a year ago. so there is this -- this more cautious tone. >> stuart: it is down 7 percent. macy's carrying less inventory. >> look at the stock, up 12 percent. it means they don't have to order as many discounts because they don't have as much stuff. they are in a stronger position if you look at it from that vantage point for the holiday season. so they raised their full year guidance, but if you look at their shopper, half of their macy's shopper has a household income that's $75,000 or less. they're going to macy's because they want the discount. so how is macy's going to keep those shoppers enticed? >> stuart: good question. >> right now the stock is higher. >> stuart: the last couple of days target down. walmart down, macy's up. >> that's fascinating. >> macy's has had an awful year. this is a decent report card because they seem to have started to right the ship. but macy's has been down and out far while.

>> macy's has been struggling. the value of macy's is not the retail business but it is real estate. it owns the real estate. if you can figure out what to do with it granted things are ift shing around. -- things are shifting around. >> stuart: show me starbucks some of their workers are striking again. >> worker unrest. it is red cup day today. traffic spikes in some stores, 40 percent greater today than it was yesterday and will be tomorrow. you go in and buy something and you get this free reusable red holiday cup. >> stuart: i didn't know that. >> they are cute. the red cups are cute. >> stuart: they are trying to disrupt that; right? some 9,000 barists say they are not going to show up today because they want better hours and better pay. 9,000 baristas. two weeks ago starbucks said you are getting a 3 percent raise. i know inflation is higher than 3 percent. but star bucks is a decent place to work. >> they were one of the first

companies to give part time employees full healthcare benefits. be grateful. >> stuart: i didn't know that. okay. elon musk was in the room when xi jinping addressed america's top business leaders. apparently he had a cocktail but left before dinner. what is he saying about the event today >> i'm getting this from the tesla account. it says president xi supports tesla's development in china, and elon musk is grateful for that, for that warm reception, if you will. i see it like this, u.s. businesses, some of them paying $40,000 to dine with president xi. they want to get back to business in china. that's not easy to do right now because of all the export controls and restrictions and regulations, so how do you cozy up with the world's second biggest economy and not -- excuse my french, upset anybody enough in washington because of it? >> stuart: you cozy up no matter what you do because your company has an interest. that's what you do. >> yes. >> stuart: thank you very much, lauren. adam you brought some stock

picks with you. start with blackstone, i have a small thin sliver of that one too. >> good man, back above 100 bucks. this stock got as low as 70. it used to be 180. wonderful company, largest private equity firm in the world. it was hit by higher rates because it is hard tore finance deals. -- it is harder to finance deals. it is harder to exit the companies when you want to that you have owned. it is trading at 19 times which for black rock is pretty cheap, yields 4 percent, super high end company. it is the cadillac of private equity. i like it. i own it. >> stuart: it is black stone. >> not to be confused with black rock. >> stuart: huge difference. >> private equity versus public equity. >> stuart: thank you, adam. coming up, senator manchin has decided not to run for reelection. he has his sights set on something bigger. roll tape. >> i will do anything i can to help my country. >> is that a yes? >> you're saying does that mean you would consider it? absolutely. every american should consider. if they are in a position to

help save the country. >> what would that mean for biden? that's a pretty good question. which we will try to answer. about a third of u.s. adults under 30 now regularly get their news from tik-tok. i will ask our media guy if that would be a problem. xi jinping warns biden that it would be a mistake for america to turn its back on china. senator scott has been a china critic. he will join us next. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim:

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and it says that elon musk along with a small group of ceos as well as other business leaders got a chance for some personal face time with the chinese president before he started his speech. it was time to get those messages to the chinese president without the rest of the ceos from the medium sized companies getting to see him. after standing ovation when president xi walked into the room, this is what the ceos heard. >> translator: peace and harmony are values embedded in chinese civilization. aggression and [inaudible] are not in our genes. >> president xi also offered a veiled warning saying that if one side sees the other as a threat, it will lead to misguided poll sis and unwanted -- misguided poll sis and unwanted results. he painted a picture with his words that not many ceos see on the ground in china which is why chinese are starting to see new investment money move to other countries in the region like vietnam and india.

>> translator: whatever stage of development it may reach, china will never pursue germany or expansion and will never impose its will on others. it does not seek spheres of influence and will not fight a cold war or a hot war with anyone. >> the chinese president also politicizing pandas. he talked about the pandas leaving the national zoo, leaving the san diego zoo. after meeting governor newsom in china, president xi now hinted that the pandas could come back to the san diego zoo. he didn't mention the national zoo in washington, d.c. when talking about the giant pandas. back to you. >> stuart: got it, thank you very much. xi gave a warning to america after his meeting with president biden yesterday. watch this. >> translator: china u.s. relationship has never been smooth sailing over the past 50 years or so and it always faces problems one kind or another. yet it has kept moving forward amidst twists and turns. for two large countries like china and the united states,

turning their back on each other is not an option. >> stuart: senator rick scott joining us us now. mr. senator, do you want to turn america's back on china? >> no, i think we just need to be realistic. first off, everything that comes out of xi's mouth is a lie. ask the people in taiwan if they feel comfortable that he's not a bully. i was in taiwan last year. they're worried about him. i was in philippines this year. i mean he's taken over some of their property. everywhere i've gone in the world, they are worried about him. they know he's a bully. they know china's a bully. 70,000 american families lost their loved ones from fentanyl. this guy, you know, produces the darn stuff and sends it across the border. look at all these companies that -- he's stolen their technology and stolen american jobs. i don't think -- look, xi is a dictator. he's a bully. if americans -- look, we have to be realistic of who he is.

we have to protect american jobs and american families. >> stuart: how far would you go in pushing back and pushing china out? for example, would you ban tik-tok outright? >> absolutely. it is toxic. it is toxic to our kids. you know, look at all the articles. look at what they teach our kids various what they teach kids in china. it is a toxic company. >> stuart: have you thought of the politics of this, mr. senator? tens of millions of americans who use tik-tok on a daily basis. there are probably a couple of million businesses in america which run on tik-tok. you ban it outright. you have a political problem, don't you? >> well, i think first off, what you have to do is what's in the best interest of the american public. my job is to protect the american public. i represent the state of florida, the families in florida, and i worry about them. i want them to have good jobs. i want them to have good schools. i want them to be safe.

i want them to be safe from the influence of a bully dictator xi, and so i mean, you've got to just be honest with people. but my job is to make sure the american public realizes what they're doing, and the risk they are to this country. they are building the military and threatening people all over asia. i mean that's what they are doing. they hate our way of life. >> stuart: what do you think president biden should have done at this meeting? >> first off, he shouldn't have gone to it, first off. there was no upside. xi is never going to comply with anything. under trump, we did a trade deal with him. he never complied with that. i think what the president ought to be doing now is stay in the situation room and see how does he get americans out of the hamas hands? we've got 33 americans killed. we've got at least 10 american hostages. what is he doing to make sure that we, you know, that americans are protected over

there? that's what i would have been spending my time on, not going to see -- meet some liar. would you do a deal with somebody that's lied to you in the past? of course you wouldn't. that's all this guy is. >> stuart: we're talking politics here, aren't we? you know what i mean? would you never do business with someone who has lied to you before? well, sometimes the situation changes, and you have a need to do business with them. don't you? >> well, if you have to, but, look, xi doesn't do anything that's ever good for us. there's not one thing he's ever done. i mean, we have -- they had the wuhan lab leak, he lied about it, over a million americans died. he has never taken responsibility for that. you can go on and on. when are we going to wake up and say this guy hates us? he hates our way of life. it is not about the chinese people. it is about him. >> stuart: we introduced you as a china critic.

that's what you are. mr. senator, thank you very much for joining us. we appreciate it. we hope to see you again soon. >> happy thanksgiving. >> stuart: xi sees a challenged president and incompetent vice president waiting to take over. for biden the optics of the san francisco meeting were not good. that's my take, top of the hour. new york city dealing with the migrant crisis. the mayor is extremely worried -- he's warning about extremely painful budget cuts. for example, a freeze on hiring new police officers in new york. are you kidding? we have the report on that ex in. -- we have the report on that next.

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buses over my left shoulder. they come in to drop off migrants a t these tents here, but nobody seems to want to stay, possibly because it is so remote, and there are not a lot of o services around here. i want to talk a little bit about the problem with the budget. eric adams saying there are big cuts coming, as much as 15 percent, even in the short-term, six to nine months out. this budget is going to be constrained. police will get less money. as you know, city taxpayers have already paid some 1.45 billion for taking care of the migrants in terms of healthcare, in terms of shelter, in erm -- in terms of food, counselling, you name it. now the mayor is saying another 12 billion will be spent on the migrants over the next three years. here's what the mayor had to say in a statement. we continue to call for meaningful help and decompression strategy from our state and federal partners. it's not fair, he says, to asylum seekers a en -- and not

fair to long time new yorkers. only 3200 migrants of 140,000 that have come to the city have signed the paperwork to be legitimate workers here in the new york city area. so that's not happening. and as i said, we are e seeing a lot of people leave this facility. we heard at one point, there were 20 families here. you can't help but get the feeling being here today that it's virtually empty. stuart? >> stuart: thank you very much indeed. you know that area. it is kind of bleak, isn't it? >> it is the old staging area from world war ii where b 17s were parked and ferried over to europe. it is an airport. these tents are set up in the middle of runways that are like three miles long. you're four or five miles away from a single store. the you want to get -- if you want to get on a be us -- get on a bus to get to civilization and apply for a job, you may have to wait an you are, maybe

one bus an hour. it is no way to live. i understand why they are leaving, but they should never have come in the first place. we should never have let them in. >> stuart: this is true. thanks, adam. 25 minutes into the business day. we have turned around. it is all in the green, not by much, in the green. dow up 17. nasdaq up 11. still ahead, difficult question, does anybody really believe biden could be president for another five years? i'm going to ask liz peak. i have a feeling i know her answer. youngsters under 30 are getting their news from tik-tok. media research center's brent bozell doesn't like that. new fox poll show three g.o.p. candidates beat biden in head-to-head match ups, but trump's lead is growing. is there a path forward for anyone else? i will ask a guest. riots outside the dnc headquarters in d.c. and a nasty protest outside biden's san francisco fundraiser. the democrats divide is

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