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tv   Varney Company  FOX Business  October 28, 2024 11:00am-12:01pm EDT

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>> their making a play to try and win the popular vote nationally and cutting into a margin in new york could help them. >> the issues remain the same: inflation, our border, our foreign policy but at the core of it all, terrible leadership out of washington dc. donald trump can fix it. >> it was the most celebrity status patriotic americans i've ever seen. everywhere you look, you would see this person that's bleeding patriot of this country. >> the fed is pushing rates
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lower because they know they froze the market and froze by having artificially too low and artificially too high. no what ther what they've thrown, he stands up and says no, i love america and they attack him for it and makes him more popular. ♪ ♪ stuart: i just want to point out that yet again new york city is enjoying good weather. it's now 29 straight day withs no rain. i'm enjoying the good weather. lauren: my grass is brown. we need rain. stuart: it's monday, october 28th. election is eight days away. on the markets, dow up 300 points and nasdaq up 100 points and i'll call that a rally. now, show me big tech.
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five of the magnificent seven record this week and all up this morning, every single one of them. new york city in a state of shock and donald trump rally in madison square garden last night was a landmark in politics. he came to the heart of heavily democratic city and filled the place and there were thousands outside who just came to be there and trump it's just him and people come to see donald trump. i can't remember any political leader generating that kind of intense following, that's what trump does. inevitably, the left is having fits about it and it's the like of the garden of 1939 and
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pouncing on one derogatory kent about puerto rico from the comedian that was one of the speakers. that's all they've got. they can't understand the electric atmosphere of trump rally and hate him and think everyone else should hate him too. they're overwhelmed by their own loathing and increasingly desperate. that's why they ramp up the contempt and call him hitler. by 9 way, there was an israeli flag flying in the garden last night. new york city is leader less and falling apart through a decade of mismanagement and along comes donald trump and offers an alternative. you have to believe that many people in the city are going to pay attention as he so often says what have you got to lose. third hour of varney starts now. stuart: steve forbes joining me in new york city. you're a new yorker.
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what's trump's chances of winning the state in the election? >> can't entirely rule it out and a few months ago seemed absolutely preposterous like ronald reagan in 1980 and did it again in 1984 and the thing is there's going to be voter turnout and not very got on the democratic side and people are sick and tired go to the super market and pay a bill and getting angry. why so much higher and why isn't it going down and what is the future? fax taxes, word salads, salads are in restaurants, shouldn't be in politics and that's why she's lost the momentum. she hasn't gone up in any poll, and i think in new york, he'll get a heck of a vote. when he ran in 2016, if he took out the boroughs, he carried a couple of others and he carried the state. what, you wouldn't bet any money on it but the fact is you can't rule it out, which says volumes.
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stuart: what's activating middle america at the moment? we're told, i mean the professionals and elites tell us the economy is in very good shape, low unemployment, inflation is coming down very strong country and people are not feeling that success, are they? they're feeling higher prices, that's what they're feeling. >> yes, rate of increase in prices haves gone done and doesn't mean prices are going down. just means they're still going upmost of them and the fact of the matter is they leave out three big costs, interest on your mortgage, interest on car payments, interest on credits is not incruded in the consumer price index which goes back to the story of the 1980s and huge cost of living and people feel that every single month, every time the bills come in. stuart: child care exploded. >> trump smart with that issue last night and parental care. who wants to give a tax break to people that take care of elderly
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parents. >> every person that has parents knows what it costs to have that kind of care you need every single day with a parent that was losing their abilities. so -- this again is a real i think impeak spltous and immigration reform -- impetus and trump getting in and getting real immigration reform and bringing in legals to do certain things. in the next four years, this decision will be directly moved at in a way that free markets would and so he's hitting everything. tips, social security, home care. >> if the election were held today, think trump win s? >> today, yes. no yes about it. british prime minister says, i think it was harold wilson back in the 60s he said, a week is a lifetime in politics. stuart: he did say that, that's right. i think he won as i recall.
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>> he did. stuart: lauren, if the election was held today, would trump win? lauren: yes, i think. a sleeper issue in this campaign is immigration and yes, it's the economy. transgender and the cultural issues. speaking of middle america, many folks sitting at home saying this just doesn't make sense. this is a waste of time and energy. my girl is going to go in girls room and boy in the boys room and leave it at that. it's the divisive issues coming to the party and democrats saying they're the party of unity and inclusion but they're dividing us. stuart: interesting. if the vote were held today, trump wins says steve and lauren. lauren: eight days to go. can you believe 42 million people already voted. lauren: i stuart: i d. lauren: i'm waiting for election day.
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stuart: this is a busy week for the markets and big tech earning ands one week to the election, eight days and get the october jobs report on friday. start with big tech hawaii are you expecting to see in the big tech earnings reports? the thing that's even more interesting over the last quart service connected what their projections and forecasts will be. >> the revenue that they're expecting to ramp up from ai and from the cloud services. i think it's going to be very optimistic and going into this election, people are optimistic going into the election and good week in the markets and ai optimistic and people are optimistic going into the election, stuart. stuart: you think we're in the
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early innings of data center gold rush? we've talked about this before, but it's the gold rush. >> going back to 1869 in san strap and the companies making the most are those companies. look at est, virtue systems and i mean, vrt, they've done great in electrification of the data centers and they're out there and stock is up tremendous over the last year and i think 125% and give or take. there's an option in country and the middle east and going for the far east and southeast asia and building massive data centers as well and going by alibaba and other large players and these companies can go a lot
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higher from here and up 125%, i think there's a lot of upside from here, stuart. >> what we talked about in data and you and i talked about on energy and look at stocks today. constellation energy, vistra and sam altman's company up another 25% and small modular reactor company up 25% and people pouring money into this and know that microsoft reopened three mile island and google is making investments into the smrs and so is amazon. stuart: some of the stocks that are moving and mcdonalds is moving and it's -- well, up nearly 2%. what's the story?
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lauren: look at decline on friday and report their earnings and the compounder is returning without the onions and mcdonalds ruled out beef as source of e. coli outbreak and quarter pounder back without the onions. stuart: saw carnival on the active list. lauren: travel stocks are up and surging on oil prices. they're down 5% because israel is retaliatory attack against iran was restrained and didn't take out oil facilities and didn't take out nuclear facilities. lauren: apple is up 1% and intelligence is the first stab at ai and has launched and get it on the iphone, ios18.1 is upgrade for the ipad and mac, apple reports on thursday. find out how the iphone 16 is capable of handling ai.
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is selling. stuart: donald trump is doubling down on the idea to replace income tax with tariffs. >> we're not going to allow the enny to come in and take our -- enemy to come in and take our jobs and factories and workers and families unless they pay a big price and the big price is tariffs. stuart: i'm not sure that tariffs can replace income taxes but we'll ask steven moore about it. is that a realistic plan? steven will comment. new report from microsoft says chinese agents are targeting four republicans who are up for reelection this year. one of them is tennessee senator marsha blackburn. the senator will tell us how she's fighting china's efforts, next. (cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw
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stuart: today the united nation security council hold ago emergency meeting. iran plans its response to israel's air strikes. matt finn in tel aviv. iran requested this meeting. what's the significance of that? reporter: well, iran said the acts were aggressive and unlawful over the strike over the weekend and since the threats and could wanter threats just keep coming between israel and iran and we have some fresh video to show you and today, israel says the air force fighter jets attacked hezbollah weapon storage sites in the hezbollah stronghold city of tyre in southern lebanon and destroyed hezbollah rocket launchers and israel is warning civilians to evacuate before striking. today a lot of eyes on capitol city of qatar, doha and involved the head of
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israel's intelligence agency and countries of egypt and qatar acting as mediator for hamas and fox news told u.s. officials think a short term deal can happen here leading to something permanent. egypt proposed a two-day ceasefire in exchange for four israeli ceasefires and destroyed parts of iran's air defense system ask ask more freely fly over and attack iran. iran says it'll give an appropriate response to the weekend attack and happening now, the israeli prime minister benjamin netanyahu is saying israel is trying to advance a deal to release a few hostages for several days of ceasefire so these peace talks are unfolding, ongoing and we'll keep you updated on the ground here.
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stuart: china going after anti-chinese communist party republicans. you oppose the ccp, they're coming after you and this is in down ballot races and tennessee senator marsha blackburn that joins me now. senator, they're targeting you, how issue -- what are they doing to you? >> well, stu, this is nothing new. more than once i've been called to the skiff by the fbi to be informed that the chinese communist party was carrying out a malign influence campaign and the reason they're doing this is to seek revenge because of my strong stance against confucius institutes and tiktok, which those reforms of soft propaganda and also because i stand against what they are doing with spying on american citizens and where
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he all remember the spy balloon that really kind of trained across the country for a week before the biden administration took it down and i've had legislation to block the ccp from buying farmland in the u.s. and i get really frustrated with them when they don't keep tray trade deals that had been made because that hurts our tennessee farmers so the chinese communist parties do not like the fact that i speak out against them. stuart: what can you do about it? other than make it known and everybody going on. >> it's continuing to call on social media platforms to be certain that they are looking out for these bad actors on their side and they should be more pointed and direct and push
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these bad actors off their side but they're going to launch these campaigns. they're trying to interfere in our election and they make up stuff with hopes that our opponents will pick it up and then will push it forward as truth. and this is what they're going to continue to do. they see the internet as a good and handy way to do that. so it is up to us to make it known and continue to try to block it. stuart: senator, i want to get back to israel's air strikes on iran and wall street journal reports that idf uses f35 fighter jets in their attack. so, senator, do you support continuing to supply israel with sophisticated u.s. military equipment? >> you know, israel has participated in our foreign military sales for years. and we have been a partner with
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them in the iron dome and david sling and the arrow, and we know we need to make sure israel has what they need to defend themselves and i keep supporting to make sure tafanely israel has that capacity and making certain they have what they need to defend their people and i also support our continued work with them. iran was using proxies to attack israel so they've carried out this day of repentance attack and it appears that they cleared the way by destroying some targetses in syria and iraq on the way to iran, and let's make certain that iran can no longer be the world's largest state
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sponsor of terrorism. completely funding and training and equipping hamas and hezbollah and houthis and isis in syria. isis in iraq. stuart: get rid of -- yeah. confront them and win. senator marsha blackburn, thank you indeed for being with us. always appreciate it. >> you got it. stuart: a new report that reveals that kamala harris worked to make the intelligence community more woke. all right, ashley, how did she do that? ashley: harris reportedly worked to inject the themes of equity into every aspect of her work as vice president from covid-19 to hurricane relief to intelligence briefings. the report claims that harris had a problem with two female world leaders and how they were described in intelligence reports. companying the adjectives used were really used to diabetic patients male leaders and vp allegedly ordered officials to scour years of intelligence
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briefings and finding everyday of bias and harris aid told the times vp was determined to view every issue through the same dei lens with a focus on race and gender. for instance following her ian in 2022, harris said providing resources should be based on equity. none of this by the way is being part of a presidential campaign. why? she's trying to avoid being labeled as a far left extremist. help. stu. stuart: that story was in the new york times. that's interesting. ashley: yes. stuart: thanks issue ash. show me city group. they've moved a very small number of workers out of lebanon as conflict between israel and hezbollah intensified and the workers relocated to turkey and no impact on the stock doing well up 3.5%. another look at big tech. alphabet, microsoft, meta, amazon, and apple all report this week. all of them are look positive as of now. right before the earnings reports come out.
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coming occupy, joe biden on the ccampaign trail trying to get union workers not to support trump. >> he doesn't give a damn about union workers or any workers and views union getting in the way of accumulation of wealth for individuals. stuart: oh, dear. we'll bring you more on biden's pitch to the unions. the economy is one of the top issues in the election. and there are warning signs flashing for the harris campaign. we'll bring you the full breakdown of where things stand with one week and one day left.
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lauren: can mark zuckerberg provide answers to congressmen questions better than amazon and google can? information is reporting that meta is developing its own
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search giant to lessen reliance ongoing and will mississippi. stuart: waiting to see if ai affects the bot toll lines of big tech that report this week. a ashley: roi and where's the return? stuart: micro-strategy. highest in years. lauren: yeah, this close to 45 could be the hirest in 24 years since march of 2000. the deal is micro-strategy owns 1% of all bitcoin ever issued and it's cofounder michael sailor is pitching at trillion dollar opportunity for microsoft. it's kind of like lei, call me. stuart: new data providing a final look at health of biden harris economy days before the election. grady trimble joining us from the white house. take us through it, grady. reporter: morning, stu. this week getting new numbers on
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gdp, inflation, and jobs report on friday coming out days before the election and it'll give us a sense of how healthy you are maybe not healthy the economy is going into election day. madison square garden and outlined a new plan to provide a tax credit for caregivers taking care of family member and on top of proposals to eolipile taxes on tips and overtime and social social security and trump enlisted help of billionaire elon musk once again and he's pushing to cut government spending to reduce the national debt. >> all government spending is taxation and whether it's direct taxation or government spending, it becomes inflation or it's direct taxation. your money is being wasted and the department of government de-efficiencies is going to fix that . reporter: vice president harris
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didn't make the economy the theme and asking what she'll do in her first 100 days in office, bringing prices down is the first thing she said. >> lowering costs in a package of legislation that's about lowering cost. again, on the issue of housing, small businesses, child tax credit. basically putting more money in the hands of american working people but also cutting middle class taxes. reporter: still, for many voters if not most, the economy is the main issue and regardless of what the numbers say later this week, stu, that is a fact that harris has had a hard time shaking on the campaign trail. stuart: grady, thanks very much indeed. joe rogan asked donald trump about replacing income tagses with tar -- incomes taxes with tariffs. listen to this. >> did you just float out the idea of getting rid of income
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taxes and replacing it with tariff s? >> well, okay. >> we serious about that? >> yeah, sure. why not? we'll not allow the enemy to come in and take or jobs and workers and factories and money unless they pay a big price and that's tariffs. stuart: steven moore joining me right now. that's not going to happen. income taxes are not going to go away completely and tariff wills not take their place, will they? >> do you know the single biggest revenue source for the united states government before income tax? stuart: tariffs. >> tariffs. right. what you'd have to do, and i've done -- i've worked on this
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issue of how do we reform the tax system probably as much as anybody in the country. you could replace the income tax with a national consumption tax and the tax and consumption and goods and services come into the country they get taxed just like if something is produced here and so look, i think it's there and going for them. >> you and i talking about it off air, reduce the income tax report and the tariff and would that be a good tradeoff and i think maybe yes and maybe they have it coming with the corporate tax and that's like when we have a high corporate tax imposing tariff on their own goods and services and stuart: another one with elon musk at madison square garden. >> i was there.
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stuart: i was watching. he said we can cut $2 trillion from government spending. that's an awful lot. lauren: it's like a third of it. >> yeah, our budget is approaching $7 trillion. pre-covid we were at about $5 trillion. so this is something for example rand paul was talking about and going back to the money we spent before covid hit. look, i don't i said on your show i think we couldest a trillion easily and wasteful spending and green energy crap and covid money to the spent that doesn't need to be spent and fact we have mo hundreds of duplicative redundant wasteful program and massive frauds and
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by the way, the average person watching this show, medicare or social security or gets government benefits and they wouldn't even realize i'm not talking about cutting benefits and i'm talking about the incredible inefficiency of government and i don't think the american people would notice it's missing and when the statistics, it's very few federal employees and less than 10% are even working full-time 40 hours a week in the office today. the big government offices in washington and they're not even there. if people don't know they're not there, maybe we don't need them, stuart. stuart: your book with art laffer and trump-appointed economic miracle plan to unleash prosperity again. where do tariffs fit in there? >> we talk about tariffs and think trump is a free trade guy and using tariffs as a weapon to other countries. stuart: it's negotiation. >> trump loves tariffs and he came up with the title of the book. he held it up last week. stuart: it's a negotiating point.
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>> yeah, it is. stuart: do this and won't get tariffed. don't do it and you'll get tariffed. >> worked with everyone. europeans not paying nato dues and he said, okay, you're not paying nato dues, slapping you with a tariff. they paid them. stuart: eventually, yeah. steve, you're all right, thanks for joining us. always appreciate it. coming up, take a look at this house in seattle decorated for halloween with the figures of harris and walz in front of american flag and features trump in a prison uniform. jason rantz is our seattle guy and has a lot to say about that. trump's influence in pennsylvania is "astonishing". >> it was almost like taylor swift kind of swag. it's like everything. not just a sign. it's the kinds of thing that has taken on its own life. stuart: both campaigns are pour ago lot of time and money to winning pennsylvania. real clear politics puts trump up just a half point in that state. full story next.
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stuart: we have a huge jump on djt and successful rally at madison area garden yesterday and over the last month, steady climb for djt and trump climbed in the polls. pennsylvania senator john fetterman compared donald trump is taylor swift. how did he figure that out, ashley? ashley: yeah, fetterman said trump's impact on the state is astonishing and referencing the former president's super stores throughout the state that sell t-shirts, bumper stickers, hats and other par fade pattern needn
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to this. >> anybody spends time driving around and see the intensity, it's astonishing. taylor swift kind of swag and like everything. it wasn't just a sign but it's the kinds of thing that's taken on its own life on that. and it's like something very special exists there and that doesn't mean that i admire it. ashley: he acknowledges it. fetterman said pennsylvania voters affinity for trump deepened after the former president was shot and survived an assassination attempt in the state. fetterman says "trump has created a special kind of hold. very interesting. stu. stuart: he acknowledges it at least. that's for sure. thanks, ash. with eight days till the election, both campaigns are focusing heavily on pennsylvania. alex sand ya -- alexandria hof joining me today. which heavy hitters are the
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democrats bringing out today? reporter: hey, stuart, former president obama in philadelphia to hold a rally in support of harris and features part of that will be a concert by bruce springsteen and harris, vice president was in philadelphia yesterday and she was going door to door and visited congregation and visited small businesses as well before hosting a rally. saturday, former president trump was in nittany lion territory in state college, pennsylvania, for the first campaign stop and appealing to younger voters. they're looking at pennsylvania as a possible win and bob casey and mckormick locked in a tight battle and economy and energy coming out as top talking points. but voting securities also top of mind over 1.2 million ballots returned so far. remember, pennsylvania results were delayed by four days back in 2022 due to backlog of mail in ballots. commonwealth secretary of state
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al schmidt weighed in this weekend. >> elections in pennsylvania changed so much in the last five years. it's no wonder people have questions with all the changes. reporter: it's proof the system was working was demonstrated here in lancaster county when 2500 registration forms were flagged as potential criminal fraud. there's the district attorney. >> indicator of fraud were inaccuracies with addresses listed on the application, false identification of personal information as well as false names. reporter: the district attorney said this was part of a canvassing effort to go across the state and found names and addresses were people that didn't exist and da added they
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didn't appear to benefit any party. stuart: joe biden pleading with union workers to vote for harris. what's the pitch, lauren? lauren: biden says trump only cares about the big corporations and not the union workers. >> he doesn't give a damn about union workers or any worker for that matter. he views unions as getting in the way of accumulation of wealth for individuals. it's a labor's interest to defeat donald trump more than any other issue as long as every one of you are here. don't do it for me. do it for your kids, do it for your family. your grand kids and neighbors and people you know and people that need a helping hand. lauren: how many times have you seen trump put on a hard hat?
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he's comfortable among union workers and comfortable at a construction site for instance. that's his business. and he's polling well with young men. that's the union base. so we have two major unions, teamsters and fire fighters not endorsing and not endorsing harris, even though they endorsed biden the last go round and that says a lot. democrats are worried they're losing this key coalition and voting block. stuart: and the president's demeanor doesn't have the force and vitality to attract young voiters, i don't think. lauren: he's counting down the time. left in office. stuart: what we should do now, check out the dow 30 stock and get a sense of the market. we do this all the time. i get a sense there's a lot of buying and plenty of green on the screen definitely and the dow is up 0.62%. 261 points. some jewish voters are feeling increasingly left out by the democrat party. republicans are trying to win them over, especially in the key
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. welcome to the place... where people go to learn about their medicare options...
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jacqui: we're told some jewish voters in swing states are reconsidering loyalty to the democrat party. jason rantz joins us with this. first of all, jason, what's the evidence for jewish voters leaving the democrats and what would be the impact of that in swing states like pennsylvania? >> stu, you're starting to see polls that show a shift and one sienna poll showing in new york trump with a 10 point lead over kamala harris and that's course corrective and not going to get that kind of shift unless you're starting to see movement and the manhattan institute put out a poll last week i believe that showed that kamala harris has the lowest support among jewish voters of any democrat since the ronald reagan era and starting to see this shift and in pennsylvania in particular, dave mckormick and republican candidate for senate has been actively courting the jew irk voters and showing up to synagogues and meeting with
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jewish community leaders and on the ground, there's a bit of a shift and that's all you really need to make a significant impact in the state like pennsylvania. 3-5% shift among jewish voters in pennsylvania, you've won the state. there's 3-5,000 jews in the state of pennsylvania and right now what they're hearing is what he's talking about is real and is specific quote about kamala harris and pressed by anti-semitic protest or heck herrera talking about genocide in israel and they're seeing this absolutely disgusting reference to either a natzi rally or adolt hitler in response to what happened in madison square garden and it's disgusting and offensive. stuart: a house in seattle decorated for halloween and interesting choice for decorations including harris and walz in front of american flag on the other side is trump in a prison outfit. okay, that's obviously
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politicizing halloween, how are people taking it? >> the 16-year-old in me wants to get a carton of eggs and toilet paper but it's state of america expensive so i'll pass. people are look saying really? can we not just have one holiday? it's a holiday to have fun and eat candy and hang out with kids and can you not take politics out for a day and halloween this year falls within a few days of the election so i guess we can't hope too much, at least not in seattle. stuart: wait till thanksgiving, there's going to be interesting discussions on the third thursday in november. thanks, jason. sports, san francisco 49ers beat the dallas cowboys yesterday. but politics injected into the postgame interview. what happened, ashley? ashley: san francisco 49ers star
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nick bosa delivered a clear message during unexpected cameo on sunday night football. take a look at this. >> the first half, what was said during half-time, hey. all right. nick bosa with a message there. ashley: may not have seem it had and seemed like it was wiped out but it was a maga hat. it's not his first political statement. he has been an outspoken supporter of the former president in the past tweeting out pro trump content before being picked ironically. second overall by the 49ers in 2019. i say ironically and he was picked even though he upset a lot of the team's more liberal fans as we know they are in the bay area. but, stu, ask him if he cares. stuart: get a very interesting answer, i'm sure. ashley, here we go. it's the monday trivia question. which president was the first to decorate the white house for halloween? fdr, harry truman, dwight eisenhower, jfk?
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stuart: here was a question which president was the first to decorate the white house for
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halloween. that's a good question i don't know the answer but ashley has some inkling, what you got. >> between eisenhower and kennedy, although with eisenhower. stuart: what do you say lauren. >> all go a kennedy number four. >> it's more likely to be kennedy than anything else, the answer is eisenhower, wouldn't you know it 1958 the first lady hosted a lunch for the wives of staff members share the state dining room of the white house decorated for the holiday but it was under john kennedy that the white house began hosting large scale public halloween event. eisenhower is correct with the good second-tier kennedy. i'm afraid were out of time but thanks to lauren and ashley we will see you tomorrow "varney & company" look who's here now david asman.
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>> no wonder you didn't know t

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