i'll ask it again, when you've got a federal government that's losing $2 trillion a year, when you have state and local governments now in fiscal deterioration, why in the if world do they continue to spend, to hire more workers? i mean, if you've got a private company that's losing $22 trillion, you don't $2 trillion, you don't go on a hiring spree. cheryl: that's why the nippon steel story -- excuse me, the u.s. steel story has been critical. tomas, steve, joni, joel, john, thank you to the all of you for that the report, for all of your analysis on report. this is the report of the year. that is going to be it for us. again, dow futures now only down by 4. a lot to go through throughout the day on fox business. and stuart varney takes over. stuart: good morning k4er8. good morning or, everyone. this is the most important report on the economy we've seen this year. it points the way to interest rate cuts, and that means a lot to investors, careers and,

yes -- consumers and, yes, to voters alike. here we go. in august 14 2,000 jobs add added to the economy. that's a little lower than expected. in june and july the number of jobs added was revised down by 86,000. the unemployment rate, that that came in lower at 4.2. now, this report suggests a weakening economy. the great debate is now whether the federal reserve cuts rates by a quarter point or a half point. the market believes interest rates will come down one full percentage point by december. here's the market's reaction to the all of this, not negative. the dow industrials up 19 before the bell, s&p up just 3, nasdaq down 18 points. this may be the kind of jobs report the market wanted. interest rates are coming down, 3.70 tois the yield on the 10-year treasury. as for the 32-year, you're -- 2-year, your at 3.68%. the price of oil staying below 70 a daryl, 699.30.

69.30. there are now 10 states under, $3 a gallon. as for diesel, that's down one cent at $3.67. bitcoin, it's all the way down to 55,000, 56,7 right now, actually moving up a bit. all right, let's get to politics. trump reveals more of his economic plan, a 15 % corporate tax the rate but only for companies that make their products in america. a sovereign wealth fund, no mortgages for illegals, take back unspent money from the green new deal. his plan is more than drill, baby, drill. kamala harris, well, she's piling up the money. she brought in $300 million in one month, much more than trump. on the show today, trump brings disrupters into his campaign. elon musk will be turned loose to audit every government agency for fraud and waste. rfk jr., he's got an editorial in the journal today outlining what he would do to disrupt the food and drug industries. not sure what his role would be in a future administration, but

his slogan is make america healthy again. kamala harris goes into five days of debate prep. he and trump face off in philadelphia next tuesday. the last debate was historic, this one may be decisive it's trump's chance to expose harris' flip-flops, it's her chance to get under his skin. what a summer it's been. the first debate, biden drops out. trump bathed in glory at the rmc, an assassination attempt -- rnc. now perhaps the only harris-trump debate. only, what is it, 58, 59 days? 59 days til the election. friday, september the 6th, 2024, "varney & company" is about to begin. ♪ ♪ she works hard for the money, so hard for it, honey ♪ stuart: she works hard for the mono-- lauren: she does.

stuart: okay. i understand that. [laughter] it's a rather loose connection to the jobs report, isn't it? if. [laughter] that's where we've got to start folks. it's friday morning, we've got this all-important jobs report about, what, 3 3 minutes ago. 14 2,000 jobs added in august, the unemployment rate to the4.2. lauren, it's your job to take us through this report. lauren: i'd call it weak overall. you're looking at the numbers and, look at this, june and july revised lower by a combine binded 86,000 -- combined 86,000. the job market is steadily losing momentum. there is a 55% chance that the fed cuts rates by 50 basis points when they meet in less than two weeks. 55% they go big, they go 50. and today, conveniently, is the beginning of the quiet period for the federal reserve. we are hearing in the last public commentary from the new york fed if president, john williams, he says we are ready to start the process of rate cuts. where were the jobs last month? if health care remained strong.

you add in social assistance, you got 44,000 added. construction, 34,000. government, 24,000. but manufacturing lost 24,000 jobs, and retail lost 11,000. in sum, we were wondering was july the weak number an anomaly? if no. a little bit better in august, but i think the labor market is softening. stuart: it looks like it, doesn't it? check futures, please. here's how the market's behaving after those jobs numbers. dow is up a frank, s&p up a fraction, nasdaq down 33. kenny polcari, this looks like a jobs report the market really wanted. what say you? >> i agree. i don't think it was a disaster. some people were expecting the number to be much less than that even though the expectations was 165. i don't think 142 is a disaster at all. and, by the way, i don't think the market thinks it is either. remember, overnight futures were down triple digits in the dow, the nasdaq and all that stuff.

they've rallied back. and so i think what this jobs report tells you you is we can expect 25 basis points. there's no reason to the panic, no reason the cut by 50. i think 25 is what it's going to be. stuart: now, the market is saying that the interest rates, the yield on the 10-year, treasury, i believe, will come down one full percentage point by december. that means lower mortgage rates. you're shaking your head. that seems the me to be a good signal for the housing market and for consumers generally. >> right. well, listen, again, mortgage rates are going to come down, but what's that going to do to the price of houses, right? typically, when money gets cheaper, prices of houses go up, so you met-net end up -- net-net end up spending the same amount of money. there's a fine line on what's going to the happen to housing. yes, low mortgage rates are great as long as the lower rates don't cause prices to rise. stuart: there's a political element to this as well.

you don't want to be going -- an election is, what, two months away, and you've got a slowing economy and slowing job market, not good for the biden-harris team or the harris-walz team. last word to you. >> no, it would not bed good if we're going to go off the edge. i'm not in the position that i think we're going off the edge. i think the fed has actually done a fairly decent job. and while i'm still not sure we're going to have a soft, soft landing, i don't think we're going into this deep, dark recession that some thought was going to happen. i don't necessarily think today's report is negative for the biden-harris administration. if he can control it and we see what cpi and ppi says next week, it's okay, actually, for them. not that i want to see that -- [laughter] stuart: you saved it at the last minute. kenny, have a great weekend. see you next week. we're going to switch gears, back to politics actually. the harris campaign raised $361 million in august a, about twice as much as trump. he got $130 million.

charlie hurt with me this morning. is this still -- is that, the fund raising, that a new candidate bounce? >> well, certainly, you know, i think a lot of it is the reliefment but she will want for no amount of money. she will get all the money she wants. the moneyed interests are behind her, the power brokers are behind her. donald trump will not win this with money, and he's proved it before, a rare candidate. he's going to win this on the power of his ideas and his willingness to shake things up. and the moneyed interests and the power brokers are not down for that. [laughter] stuart: he's certainly going to shake things up. i want you to listen to donald trump on his proposal for a government official city -- efficiency commission. roll it. >> i will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms. we need to do it. [applause] can't go on the way we are now. and elon, because he's not very

busy, has agreed to head that task force. be interesting. if he has the time. he'd be a good one to do it, but he's agreed to do it. stuart: so, charlie, the president, trump, is the disrupter in chief, and now he's employing a huge disrupter. can you see them working together? >> maybe the only person who's a bigger disrupter than trump himself is elon musk. yeah. you know, i think that they're -- you know, our politics have been turned so upside down in the last eight years, it's no longer left-right, conservative-liberal, do -- democrat-reflinger it's more -- republican, it's more concern about the future and common sense, and i think what was fascinating in that speech and what was on display was his ability to talk about a wide range of topics, something the other side is not doing, and the willingness to the engage in something as uncertain as bringing elon musk into your administration to shake things up. it's -- stuart: the you should read rpk

jr.'s editorial in the journal today -- rfk jr. he's not necessarily going to be a part of the administration, but his thinking is now in trump's head. >> i can only imagine how much wall street is quaking at the thought of having that level of disruption in the food industry. lauren: well, i thought that tesla shares would be down because their ceo would be doing something else in addition to running all of his other private companies, but tesla shares are higher right now by almost 2, and they're up7.5% this week, so go figure. stuart: okay, back to this in a moment just a quick programming note here. september 10th, that's the abc news debate, trump versus harris. "the bottom line" will begin special coverage that night from 6-8 p.m. eastern. and fox business will simulcast the debate live, 9 p.m. eastern. polls currently show harris ahead of trump martially but, lauren, what do the -- nationally, but what did the polls say at this point in 2016

and 2020? lauren: trump was down by more both of those times. i'm using 538 data, but other data somewhat matches this. so in 2016 at this point in the race, hillary clinton was ahead of trump by 4 points. in 2020 the biden was ahead by 7 points. and now in 2024 harris is up by 3 nationally. stuart: okay, we'll take that. thanks, lauren. here's what we have coming up this friday, president biden revealing the inflation reduction act should have had a different name. >> the most significant climate change law ever. and, by the way, it is a $369 billion bill. it's called -- we should have named it what it was. but at any rate -- stuart: it was always about funding the climate agenda, budget it? tammy bruce will take that on for us. trump making this warning to find jihadi sympathizers and pro-hamas supporters. listen to this. >> when i'm president, we will

can deport the foreign jihad sympathizers and hamas supporters from our midst. [cheers and applause] if you hate america, if you want to eliminate israel, then we don't want you in our country. stuart: former state department official christian whiton reacts on that one. we'll be back. ♪ everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one.

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with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. stuart: we had the jobs report about 45 minutes ago. it was -- it showed a weakening economy. investors seem to the like it. dow industrials up 30, s&p up 5, nasdaq down 221 points. -- 21

points. interest rates are down, and the market kind of likes that. hamas blaming netanyahu for the failure to reach a ceasefire deal. they want him to remove troops from the philadelphi corridor in gaza. jeff paul is in israel with the latest. >> reporter: yeah, stuart. despite calls from both egypt and hamas for the removal of israeli troops from the philadelphi corridor, israeli prime minister benjamin netanyahu says he wants to keep troops there in order to prevent weapons smuggling into gaza. but at the moment, it is true one of those sticking points that's to likely preventing a ceasefire and hostage a deal from being approved by both sides. and the long longer things go, frustration only yous among the folks who call -- grows among the folks who call israel home. in the wake of the six hostages killed, tens of thousands for the last several days have been taking to the seats throughout israel in protest. -- to the streets. they've been trying to the push the israeli government to the make a deal before more cabtives

are killed. -- captives. but the prime minister says it's not one single issue like the philadelphi corridor that's standing in the way, he says it's hamas. >> hamas is not there with a deal. there's not a deal in the making, unfortunately. that still hasn't happened. they want to reconstitute their terror kingdom, and it's, unfortunately, it's not closed. we'll do everything we can to get them to the point where they do make a deal. >> reporter: now meanwhile on the west bank, thish s df operation there appears to be slowing down at the moment, israeli forces have withdrawn from several key areas after a week-long period of both gun battles and strikes. the idf says it eliminated several militants, and while troops appear to be on the move, the israeli military says they continue to the act in order to achieve objectives many in their counterterrorism operation. local palestinian health officials say a total of 39 people there have been killed. and as far as a ceasefire deal

in gaza, well, john kirby was in the white house yesterday making some statements pushing back on the idea that the white house has been a little too rosy or optimistic about a potential ceasefire if deal. he says, yes, they have been hopeful, but they've also been nothing but pragmatic. he also says the recent recovery of those six hostages from gaza is really complicating efforts moving forward. stuart? stuart: jeff pauling thank you very much. we're learning new details about iran's failed plot to assassinate donald trump. a pakistani man met in a safe house inside iran. he had diagrams of trump's rallies and concluded that an indoor assassination, that would have to be made with a if pistol, and an outdoor attempt would be taken with a long-range rifle. christian whiton joins me. this is a foreign country actively plotting to kill the former president of the united states and current president to boot. what are we going to do about it? >> well, probably nothing for

the next couple of months. biden-harris administration has had nothing but a sort of policy of leniency with iran, and iran has been able to export a significant amount of oil which has funded their wars across the middle east. but recalling the last head of state who participated in activity like this was saddam hussein, one of the reasons we went to war against iraq in 2000 was because they tried to the assassinate former president george h.w. bush when he visited cue bait -- cue -- kuwait. this is an act of war. stuart: it is. i'm not expecting an immediate response, but i'd like to know if there is one at all. listen to what trump had to say about pro-hamas protesters. roll it. >> when i'm president, we will deport the foreign jihad sympathizers and hamas supporters -- [cheers and applause] if from our midst. we don't want them. if you hate america, if you want to eliminate israel, hen we

don't want you -- then we don't want you in our country. i will put every single college president on notice, the american taxpayer will not subsidize the creation of terrorist sympathizers on american oil. [cheers and applause] colleges will and must end the anti-semitic propaganda, or they will lose their accreditation and federal support. [cheers and applause] no money will go to them if they don't. stuart: you know, christian, he's going for drastic action here, isn't he? >> in one sense, yes. withholding federal funds from colleges because they do the nutty things that they do would be profound and unprecedented, but i think lot of people think it's tame to have that debate and maybe start doing that when colleges really go off the deep end. the other part of what he recommended is putting an ideological test on people who want to emigrate to the united states to study the or work. that has been done before in the cold war if you were an out communist, you would not be deemed permissible for entry into the united states. and this is something we should

have done beginning and after 9/11, ideally before that,s which is to just say define islamism or political islam or jihaddism and ask applicants if they believe in these things. some of them will lie, but then when you catch them lying, you can deport them, and others will actually fess up to them and say that's not compatible with democracy. we're not going to welcome people into our democracy who want to destroy it. stuart: deal with this one, please. putin reportedly says he wants harris to win over trump. do you believe that? >> i think putin's having a little bit of fun. he was speaking at a far east conference. but, you know, if you look at the hostage deal with -- where we traded the number of actual criminals in exchange to have to get back "the wall street journal" reporter and another reporter, why did putin let that exchange happen recently as opposed to waitingal -- until after the election? i think at that point he does

want harris to win because trump very unpredictable, and that's what the russians say. stuart: when i first emigrated to the united states 50 years ago a, i had to -- i was asked are you a communist, have you ever been a communist, do you have any communist associations. the answer was no, and i got in. but that's the kind of test that they used to put you through, but i don't think they do now. christian, i'm out of time, but we'll see you again real soon. all right, let's check futures because we're going towards the opening bell on wall street, and it's a mixed market. interesting. we've got jobs numbers out, the dow is up, s&p's up, nasdaq's down -- now nasdaq's up 4. we've got green. we'll be back. mug muck she couldn't help thinking that there was a little more to life somewhere else. ♪ after all it was a great big world -- ♪ with lots of places to the run to ♪

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>> 7500 -- 750. we did some survey work, stu, on netflix like we always do. we looked in the u.s. and some of the emerging markets like mexico, and a couple a takeaways are kind of the content quality lead that netflix had seems to be widening. what you also notice is that you get these higher satisfaction rates for netflix if's service overseas than you do in the u.s., and our basic thesis for about a decade on this has been in-home entertainment, there's just fewer optionsyou leave the u.s. it's a less competitive market. so, therefore, the value proposition that netflix has in most international markets is greater than the u.s., i.e., they could see a higher penetration in international markets. i think that's underappreciated about netflix. you also have live sports and gaming coming on to netflix. it's not one of our top picks, but i want to the stay long netflix. stuart: they're running away with the streaming business, it seems to me. >> yes. stuart: explain why you moved

spotify from 420 up to 4600. >> -- 460. >> so it's the same sort of thing. we run these survey, we do international and u.s. markets. these are consumer-facing company, and so you want to get a sense of how consumers think about them. you kind of have to run surveys kind of like elections. and when you do that, you also notice this kind of rising popularity for spotify p. i'm also very intrigued by what they did a couple of years ago when they pivoted hard into podcasts. that seemed like an unusual move at the time, but the results show this is the a highly popular element, aspect of the spotify story. that's one of the reasons people really retain well with spotify. and then you notice when you compare with the other services, it has the least price sensitivity which is another way of saying most consumers think spotify is the best product in the market we want to stay long the best product, and valuation is still highly reasonable in materials of -- in terms of, cash flow. stuart: lastly, you've left

google at 25225 the -- 225. >> here i want to be cautious. there's two overhangs on google. one is the department the of justice cases, and i don't think we're going to get any resolution on these for a year, two years, three years. i think there's going to be some massive settlement, but that's a i couple of years down the road like what happened with microsoft a decade ago or longer. a little bit of slippage in search market share to chat gp if t. so you've got these two overhangs. i like alphabet google, i just want to be very tactical on this stock. you know, i really wan to to pull back on the stock to kind of lean into it. at the margin, we're a little bit more cautious on google. stuart: got it. always a pleasure, mark mahaney. >> have a have a great weekend. stuart: yes, sir, thank you. they ring the bell, press the button and this market is off and running. now, the backdrop, of course, is the jobs report which i think displayed a weakening economy. interest rates are down.

stock prices, little changed. the dow has opened with an 18-point gain, and it's an even split among the dow 30, winners and losers. half green, half red are. s&p 500, in with a very small gain if i'm not mistaken. on the screen, please, there you go. yeah, .08%. upwards. nasdaq composite, that possibly is down -- no, that's turned around. now we're up .08%. in other words, not much happening in the very early going on wall street. lauren: it was a terrible week, stuart. stuart: for stocks overall, it was. lauren: the nasdaq's down 3.3% this week. stuart: no bounce at the moment. look at big tech, all of them up. let's dig into nvidia, lauren. jensen huang, he's the ceo, he's dumped a lot of stock recently. lauren: 5 million shares worth more than $630 million since june. in that time nvidia shares are down some 25% if since the

unloading. people speculate, okay, what can does he know but, come on, this is the a stock that's still more than doubled this year. i did want to give you two other pieces of interesting -- information, very interesting, on nvidia. china has a lot of their chips as in the ones they're not supposed to have because of the export controls, and heir charging less from them. this comes from the financial times. they spoke to four chinese cloud providers that are charging $6 an hour to use a server with eight a nvidia h-100s, the chips they're not supposed to have. in the u.s., the financial times says it would cost $10 an hour. so they obviously have enough supply to charge less, smuggling in some of the chips? all a questions raised by the ft. also wanted to tell you that the white house is probably rolling out new export controls on critical technologies including a.i. chips and quantum computing. that's why there's a chip overhang for the most part today.

stuart: nvidia right at $107 a share. super micro, now, they got the biggest downgrade in terms of target price that i've almost ever seen. lauren: yeah. okay, jpmorgan went from 950 to 500. they almost cut it completely in half and downgraded from a buy to neutral, essentially. what are they worried about. >>some the overhang of regulatory -- the overhang of regulatory compliance was hit with the short seller report hindenburg research which called out some of their reporting and internal controls. what's interesting is jpmorgan says it'll get past that, but they might lose customers in the process and, obviously, it would be expensive. so those costs would weigh on their margins, hence, $500 from 950. stuart: i wonder what the analyst is saying who originally said 950? if let's move on. broadcom, they are down big this morning. lauren: yeah. hip wreck. is that what you call ited it?

stuart: chip wreck, sorry. lauren: broadband sales fell almost 50% last quarter, so they came out and cut their revenue forecast for this quarter. but this is also an a. i. play. their a.i. revenue is just fine. in fact, they're selling $12 billion in a.i. parts and custom the chips this year, so they confirmed demand is there, but clearly that's not enough the soothe investors. down almost 8 president. stuart: -- 8%. stuart: qualcom's trying to buy part of intel's chip business, aren't they? lauren: reuters says they're considering it, they're attracted to the design bids, not the server business. qualcomm is known for chips in apple devices, many phones. it's taking advantage of the timing. intel's down, what, 61% this year? i think it's the worst or one of the worst dow strocks. they're -- stocks. they're halfway through a turn-around plan that's not working so, reportedly, they want to sell part of themselves before their board meeting -- stuart: intel can't get to $1020

the a share and -- 20 the a share and stay there. i think you got this right yesterday when you suggested that, what is it, cleveland cliffs, might be buying a piece of u.s. steel. lauren: u.s. steel company buying the u.s. steel. [laughter] two american -- stuart: this is acceptable. lauren: it could be a compromise deal because u.s. steel has come out and almost threatened saying, look, if you don't let us sell ourselves to the nippon steel, japanese company, we might have to cut thousands of jobs and move our headquarters out of swing state pennsylvania. so should president biden nix the sale to japan, the gee of cleveland cliffs saying, oh, we're an american company, we could come in and help and support these union jobs -- stuart: yeah, but will they put in the $14 billion that nippon steel was going to put in? lauren: interesting you ask that because last year they put in a bid values at $54 cash and

stock, nippon steel put in $55, and ironically or, u.s. steel turned down cleveland cliffs because of regulatory concerns. stuart: oh, there's that. [laughter] bottom right-hand corner of the screen, the dow is up 227 point, more than a half percent. all of a sudden, the thing goes up. we're going to to look into this, which stocks are moving so sharply higher to justify a sudden burst to 220 the on the upside for the dow. okay. back to docusign because they reported after the bell. i guess it was a good report, because i saw up 5%, not bad. lauren: a.i. do you remember when this stock was at, oh, 310 a share or three years agosome. stuart: during the pandemic. lauren: height of the pandemic e, we were doing everything remotely including signing documents. they're at 60 since then. this is their post-pandemic turn the around, if you can, using a.i. so customers who have these subscriptions for the virtual document signing, you can use a. i. to summarize that document

you're about to virtually sign. is they reported revenue rose 7% and billings by 2. stuart: back to the big picture, the dow right now is up 205 points. show me the big winners among the dow 30. we may have some indication as to why the dow suddenly went up. merck, caterpillar, salesforce, apple, travelers all on the upside. no huge gains. i guess the gain of 2000 points for the dow is -- 2000 points is spread across most of the dow 30. here are the s&p 500 winners headed by lieu allow lemon, builders -- lieu allow lemon, hubbel? is that hundred bell? okay. nor the wee january cruise lines. nasdaq -- charter, idex and marriott international. show me the yield on the 10-year treasury, please. it's now starting to go up a little bit after the jobs numbers came out it went down, but now you're at 3.74%. the price of gold, $2,533 an ounce. the price of bitcoin, $56,40 to

90. oil, 700 -- no, no, $69.7 on oil. nat gas is right at $2.27. now looked at gasoline, just keeps on slipping down. $3.29 is your average for regular are. lost another one cent overnight. we do this you every day, $44.66 in california -- 4.66. [laughter] coming up, trump outlining plans for a government efficiency commission and tap thing elon musk to head up the task force. oh, watch this. >> i will create a government efficient if city commission tasked with conducting a complete financial and performance audit of the entire federal government. and elon, because he's not very busy, has agreed to head that task force. stuart: yeah, he's not very busy. trump and missing teaming up -- musk teaming up, is that what voters want? i don't know. joe concha on that. the football season officially kicking off. the nfl facing backlash over the black national anthem

performance before the chiefs-ravens game. if gianno caldwell on that. trump plague out his plan -- laying out his plan to boost american manufacturing. >> -- a reduction in the corporate tax rate from21% to 15% solely for companies that make their product in america. stuart: by the way, manufacturing jobs lost ground in the latest jobs report. we've got to bring in economist peter morici, what he thinks. we'll be back. ♪ put a little love in or your heart ♪

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the jobs report. these are the stocks or that are doing it, goldman sachs, caterpillar, home depot, salesforce. taken together, they are adding 700 points to the dow -- 70 points. it's up 192 at the moment. donald trump backed elon musk's proposal for a commission on government efficiency. he wants to audit government agencies to reduce waste. hillary vaughn joins us. hillary, what's trump saying about this commission? >> reporter: stuart, former president trump wants to audit the government because he doesn't want trillions of our taxpayer cash going to waste. >> in 2022 the fraud and improper payments cost taxpayers an estimated hundreds of billions of dollars. as the first order of business, this commission will develop an action plan to totally eliminate fraud and improper payments within six months. this will save trillions of dollars, trillions. trillions of dollars just wasted and gone and nobody knows where

it went. >> reporter: trump says elon musk will head this commission. musk has said he's excited to get to work. he doesn't need a title or to get paid but says the country needs this. when you look at the numbers, fraud and overpayments are a trillion dollar problem for the government. over the last two decades, according to the government accountability office, payment errors of taxpayer cash totaled $the 2.7 trillion. just the last if fiscal year alone, $236 billion in improper payments were made. and the government programs who were the worst offenders for improper payments include medicare, medicaid, the earned income tax credit and, of course, the pandemic assistance the programs. stuart? stuart: hillary, thank you very much, indeed. got to the get back to that jobs report out first thing this morning, 45 minutes ago, actually. 14 2,000 jobs added to the economy in august a, the unemployment rate down to 4.%. peter morici with us this

morning. i really want to talk about migrants and the labor force. you brought us this story before. are migrants working in significant numbers? >> absolutely. we're only capable of growing our jobs situation by about 80,000 a month with regular immigrants, you know, people coming in through appropriate means. and the natural increase in population. so the rest has to be irregular immigrants. it's that simple. unless there's some martians, you know, landing in the desert in the west and -- but then again, think of all the irregular immigrants we have parked in maine right now, so you never know where people are going to come from. stuart: i want you to listen to trump's plan to support american businesses. roll that tape, please. >> to the further support the revival of american manufacturing, my plan calls for expanded r&d tax credits, 100% bonus if depreciation, expensing for new manufacturing investments and a reduction in the corp. tax rate from -- corporate tax rate from 21

percent to 15 percent solely for companies that make their product in america. [applause] stuart: peter morici, i want to pick up on that. a low corporate tax rate of 15% only for companies that make their products in america. that's nothing like the across the board 15% rate for everybody. what do you make of it? >> well, i don't like the across the board 15%. at 21 we're in the sweet spot. we're very competitive with other advanced industrialized countries. i'll show you the data. however, i would be more interested in getting rid of that 3.8% surcharge on interest and dividend taxes and some of the other things that he proposes are very good. but if you really want to to help manufacturing, you got to say where's the hole mt. global economy? it's china. his 60% tariff is probably not enough. if you consider how much that currency's undervalued not so much because of intervention, but the chinese government driving it down simply by

persecuting everybody, arresting executives in the middle of the night for this and that and so forth, the my feeling is that the most significant thing he could do would be the tariff on china. stuart: okay. peter, i'm going to cut it short. forgive me, but i've got to bring in charlie hurt on these numbers. charlie, i would characterize trump on the economy as going for growth and prosperity. i'd characterize harris as tax and spend. am i being harsh here? >> no, i think that's an accurate depiction. and the real problem for kamala harris is it all comes down to credible, and voters can really look at -- whatever she say, they can look at how the economy has operated over the past three or four years and compare it to the four years under donald trump, and they can compare those policy platforms. stuart: that's got to come out at the debate. got to do that. thanks, charlie. coming up, donald trump has brought two bigtime disrupters into his campaign, elon musk and rfk jr. we don't know exactly what role

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stuart: all right, my next guest is the owner of route 1 barbershop in sport portsmouth, new hampshire, and he joins me now. first of all, tell us why you think a harris administration is bad for business. >> i mean, first of all, we don't know what policies are. she came here to new hampshire two days ago and spoke about her wonderful idea to increase the tax breaks for a small business, but that does nothing for the economy. it does nothing for the businesses that are currently struggling to make ends meet. when you have a candidate like donald trump that's talking about decreasing or doing away with payroll tack, that's something that helps small business. stuart: okay. quickly -- >> i don't see anything that harris has -- stuart: real fast, tell me what

your customers are telling you about inflation. >> i mean, we've had, we've had some clients that, you know, doubt that there is an inflation, but then we have the ones that are feeling it, you know? we see the amount of people that are struggling that have to go and get a second job to the make ends meet. we've seen some clients that have lowered their visit times, you know? they come in once or twice a month, now they're only coming for one maybe every two months, you know? people are struggling -- stuart: okay. chad, thanks for being with us. i've got to go, but we appreciate you being on the show. we want to know how people feel around the country, and you've told us in new hampshire. thanks very much, see you later. i want to go back to the employment report this morning. we've been digging into it, and here's what we've found, charlie. native born american workers down 1.3 million in terms of employment. down. foreign-born workers up 1.32 the million million -- 1.2 million.

>> this is a problem that's been growing for a long time, and donald trump is the first politician out of either party to recognize the problem and identify it and, of course, it was the center of why he won in 2016. you're talking about these issues of immigration. the other thing is sort of the overall war on work that we have in country. it's been going on for a long time. is and if you look at all of those policies from former president trump, they're all designed to to encourage people to work and to contribute to to the economy. and, you know, obviously that's vital to not only the economy, but also to the prosperity and happiness of the american people. stuart: and what happens if trump deports illegals in large number, those who are actually working? what happens then? that's going to be interesting. >> it sure will be. stuart: charlie, thanks so much for joining us for the hour. >> great to be with you. stuart: still ahead, president

biden admits the inflation reduction act was actually a big push for the green agenda. tammy bruce on that. matthew whitaker responds the up hunter biden changing his plea to guilty on all counts in his tax case. texas congressman chip roy reveals the scale of the border crisis under the biden-harris administration, and one law school offering a course on the rise on authoritarian, christian nationalism. what's that all about? mike huckabee will deal with it. the 10:00 hour is next. ♪ -- last friday night. ♪ yeah, we danced on tabletops and we took too many shots -- ♪ think we kissed, but i forgot. ♪ last friday night -- ♪ yeah, we maxed our credit cards and got kick canned out of the bars -- ♪ so we hit the boulevard last friday night ♪

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stuart: shake it out, in 90 seconds. 10:00 eastern time, to the