>> from the fox studio in new york city, this is "maria bartiromo wall street". maria: happy weekend to all, welcome to the program that analyzes the week that was in position you for the week ahead. i am maria bartiromo deadly fires ravishing los angeles area leaving thousands of homes and businesses and schools obliterated 180,000 people under mandatory evacuation orders the palisades and eaten fires on

track to be the most costly in u.s. history max gorden is on the ground in pacific palisades with the major economic impact. >> where i'm standing it looks like a bomb has gone off walk after walk, home after home scenes like this homes that are been reduced to absolutely —-dash and burned onto their foundation. this isn't just any neighborhood this is a desirable neighborhood in los angeles each one of the homes representing a multimillion dollar investment and as a price tag of this firestorm continues to rise into the costliest in u.s. history. according to accuweather, the economic impact of these fire could be $150 billion. interstate where home insurers are pulling on dropping coverage, some don't have insurance at all and lost nearly everything.

>> i lost two homes yesterday both fortunately uninsured. i thought i was going to lose this place was had our family's mementos and it in the other place the same night it is pretty hard to take. in the destruction continuing to grow the costly natural disaster hurricane katrina. maria: president biden already pledging full federal aid to fight the fires and he'll be going to congress for help. homeland security chairman rand paul jointly right now. senator, thank you very much for joining me, you been laser focused on cutting federal spending but on cases like the devastating fires does the government need to step it and give aid to california. >> i think all of america horrified by the personal distress in the loss of property

and what were seen on television. there is a question, can we keep borrowing the money or printing the money, the money has to come from real money through taxation or what have you but we get billions of dollars to california and maybe can be re-channeled into but there is a question. i think president-elect trump has brought this up are the people out there capable of spending the money wisely and governmental reasons wildfires are decreasing in california and decreasing in texas worldwide fires on a down world slope in california thereof doesn't have to do with management of brush committee mechanically remove brush can we mechanically have prescribed fires to remove brush so we don't have big fires. and without question we have to ask about the companies that were talking about giving the money to.

we just gave a hundred billion dollars in emergency funding for north carolina all of that was borrowed when i say take it from somebody else. i came up with a trillion dollars of savings through my annual festiva's waste report will give you one quick one, the nih the national institute spent $759 billion on diversity equity and inclusion i thought they were doing science but based on racial bs and there's a lot of money throughout government let's cut those and move it over to disaster those don't add on to the debt. most democrats and many republicans will say you how to pay for disaster aid that's one thing we never paid for. it was a month ago we borrowed $100 billion for north carolina and now for them to say immediately were going to do it again let's look at the money we get to california and re-channel some of that into protecting the people to broader force

management. maria: i understand all of that, you and the other gop senators met with president trump this week as well as key congressmen at mar-a-lago this weekend if you hammer out a strategy for tackling the upcoming priority, border tax cut in one or two reconciliation bills. as the conversation shifted now that there will be a continuing resolution on march 14 that will include california wildfire emergency aid in the debt limit. i know your heart no in raising or eliminating the debt ceiling, correct. >> i think the people that need to vote to raise the debt ceiling of the has to be raised should be the big spenders who vote for the big spending. in the other conservatives in the house of representatives don't vote for the spending. the day of shame and the vote of shame where they marched down and they show who they are the people need to vote are democrats and big spending republicans of overall the spending but frankly we should send the message that were never

going to default would begin to thousand dollars of revenue every month, interest payment is smaller than that there's always enough tax revenue, we should announce to the world and markets were never defaulted because of our tax revenue on a monthly basis is ten times bigger than the interest payment. we will always pay her interest and we should announce it. even if we did not extend the debt ceiling we can pay interest on our debt through revenue. maria: the supreme court is taken up the case on tiktok deciding whether the government can be in this platform over the ties to china. if it doesn't divest you file the bipartisan amicus brief saying it goes against the first amendment, tells more. >> even the authors of the tiktok band will tell you they're trying to stop certain ideas from being expressed they worry about the ideas which to

me frankly is a lot of dancing videos. if you don't want your kid watching dancing videos what happened to parental control. governmental control is forbidden by the first amendment this is a first amendment case for 170 million americans using the app. it's also confusing when people say it's a chinese owned app. so by international investors, 60% of the people who own tiktok are not chinese. the people who developed our chinese engineers but 7000 americans who work for tiktok who are part owners of tiktok also. this is a lot more complicated than they make it out. the first of that is too important. if you worry about the app don't use it. maria: are you saying you're not worried about the chinese communist party gathering information from tiktok on user data, isn't that one of the issues. >> i'm worried about meta,

google, tiktok, anybody taking my data i make informed decisions about what i use so i don't have to share my data. if you don't want to use it's a free country, don't use it. maria: let me switch gears about next week's confirmation hearings is the homeland security committee overseeing on wednesday for kristi noem dhs secretary, russ vought of the office of management and budget and all week cabinet confirmation hearings for pam bondi, doug burgum, pete hegseth, marco rubio, duffy, stephan again right, what are your expectations for the hearings and confirmation of trip under president trump's cabinet. >> in the past some minority party has not obstructed a handful of high ranking cabinet members to be approved in the first week and i'm hopeful the secretary of state as well as the department of homeland security will be approved on the day of the inauguration or the day after or that week as well

as a few others the department of defense. i'm hoping we get to quickly and don't muddle around. have my figures process going to be happening. the to the i'm in charge of no resistance on the republican side in some we make it democrats support as well. maria: you conviction and confidence that your colleagues in the senate on the gop side will vote for president trump's cabinet. >> for the most part there is two or three in our caucus that are worrisome on a handful. this is an amazing group of people and talented people that have been put forward. i think most republicans are on board. it's down to two or three and still get there. these are really qualified people frankly. maria: we will leave it there, it's a pleasure, thank you for joining us.

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nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com maria: were markets ended after stronger than expected december jobs report. the unemployment rate fell to 4.1%. we sell revisions of 15000 fewer jobs added in november than previously reported, former trump campaign senior economic advisor steve moore in cke restaurant andy puzder, great to see you, thank you so much for being here, you're the author of the upcoming book, tierney for the good of its victims, the ugly truth of shareholder capitalism, congratulations on the book i'll ask you in a moment, let me get your take on

the jobs numbers and what it tells us about where we are today on the economic backdrop. >> i was relieved that the numbers are better-than-expected and jobs it was a bit every relief in somebody on the other signs of the academy are showing a weakening and what are the ones that i'm very concerned about the topic with interest rates continue to rise, i'm very worried about inflation and commodity prices over the last few months what worries me for terms presidency to be successful. what are you seeing in terms of the consumer the backdrop of the macro story there is great

enthusiasm, consumers and businesses across the country. president trump selection added a lot of momentum to the economy and some of the jobs numbers this is a very strong report there is no way around that is a good report. i think the market was hoping it wouldn't be as good as it was because they would like to see the fed cut rates. if you look below the numbers, 700,000 fewer nativeborn americans for the pandemic. we have 1.3 fewer full-time jobs that we had in june of 2023, we have government jobs hitting a historic high last month and over the past year about half, half of the jobs that were created were paid for indirectly or directly by taxpayer dollars, were seeing heavy government spending, the impact of immigration making the jobs numbers look better than they actually are we need private sector job growth, not government job growth and

full-time jobs for native americans. these are the important those of the important factors when we need to look at the report more realistically, great analysis. one of the big issues that were looking at in the report and the reaction to the report as the spike in bond yields. were talking about the ten year yield getting awfully close to 5%, this could have massive implications across businesses right before we actually see of the fourth-quarter earnings being released from the major banks next week, what are your reactions to the movement interest-rate. >> ever since the fed started lowering rates which is why a lot of people on wall street wanted to see, the long-term interest rates continue to go up not down. that is because reoccurring inflation. i think andy would agree with me if we put in place the trump policies, they are just inflationary were to produce more oil and gas and energy that

will be under bring energy prices data produce more jobs by making the trump tax-cut permanent getting more production which lowers prices, it is something that trump has to worry about coming in. >> real quick, why are you looking at this colina tierney. >> because people that advance stakeholder capitalism, blackrock and vanguard, they believe they're trying to do what you believe in the best interest. when you talk about implementing climate policy or di policy that affect american businesses in the market economy. when enforcing those companies by the way that they both share of the companies into tierney and avoids democracy, it's a threat to democracy and it's a threat to a free market economy it's financial elites trying to take control of the issues away from the people because they don't think that we can make these decisions for ourselves. i think that's a mistake and

historically proven to be a mistake in the whole book is about that hope you're reading it. >> great to see you both, thank you we appreciate your time. meanwhile frustration and anger at a boiling point and get california democrat leadership over the handling of the wildfire crisis. i'll be speaking with a progressive makes it easy to see if you can save money with a commercial auto quote online so you can get back to your monster to-do list. super helpful. see if you can save money at progressivecommercial.com. thank you.

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maria: welcome back, californians are slamming state and local officials over the handling of the devastated wildfires, the los angeles fire chief warranted a memo that the mayor approving to cut 17 and a half million dollars from the fire department budget is severely limited their ability to prepare and train for

large-scale emergencies. here is the response from l.a. mayor karen bass. >> we have to protect lives, we have to save lives and we have to save homes. rest assured, when that is done and we're safe and lives have been saved and homes have been saved we will absolutely do an evaluation. >> jennifer kennedy a los angeles resident who is forced to evacuate her home and also an attorney working on behalf of the firefighters among others. thank you very much for being here, what is your assessment of how this all went down. >> number one and went down so quickly i was in my home in the eating canyon less than a mile from his start and i thought it was prepared for a power outage in found smoke within 15 minutes

we were having to evacuate and flee the neighborhood. it was chaotic. i was unprepared i will say that. i tell people they need to be ready to go. what we can see from her home in our backyard was a wall of orange smoke and cloudy and fire. it was very surreal, as reflected house and had no idea what was going on we had a few images coming in of what was happening in our neighborhood, what we could see on people's camera, id, instagram looked horrifying. we saw the local homes going up, we call the jewish temple starting to catch fire. the overall feeling of incredible shock and a little bit of panic in the feeling of wear and hollywood that we were in a movie. maria: unbelievable, we were looking at the video that you

shot. why is it that we don't have enough fire men and women. the firefighters people were complaining that we didn't see a fire truck when this first happened. it was a delayed response. also all of the information about how the mayor canceled or cut funding for the fire department and now the governor gavin newsom used water coming from canada and sent into the pacific ocean to save fish, they do not store water, the fire hydrants did not have enough water. i want to get your response in the assessment of how this was handled. >> number one there are so many layers of mismanagement that are going on you can start with the forestry mismanagement california flushes billions of water into the ocean every single day, we don't have an emphasis on water and that should be the biggest emphasis another one it's infuriating to hear leaders say we don't have

enough firefighting personnel on the ground and we don't have enough firefighters, this is the city that terminated veteran firefighters over the covid vaccination mandate. pull them off the line for no reason in the name of fake science and fake health. no public health benefit in they pulled battalion chiefs out of the command. they pulled firefighters, apparatus engineers also line, not only did they do that in terminated the firefighters for no reason that repelled qualified recruits nobody wants to work for a department that doesn't respect you nobody wants to work for narcissist who want to control you. it stopped good recruiting and it ended their careers of veteran public servants. these are the people we send into danger and go into danger. our city was calling them a threat. anything but a threat.

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...to saving up... ...to income in retirement. you got this. vanguard fixed income funds can help advisors grow their clients' savings. vanguard. fifty years of high quality investments. >> welcome back. one thing ahead of next week before president-elect trump can get it started on a large portion of his agenda he needs his cabinet nominees confirmed, senate hearings kicking off on tuesday with republicans pushing to install trump's team soon after the inauguration on january 20. the biggest names in the upcoming week include pete had checked for defense secretary, kristi noem for department of homeland security, marco rubio for secretary of state and pam bondi for attorney general. we will follow the hearings and all of this next week on "mornings with maria" 6 - 9:00 a.m. eastern, weekdays

on fox business. i hope you will join me. i'll see on sunday morning on the fox news channel, tony rewording futures. exclusive interviews with tennessee senator bill hagerty incoming borders are tom hallman, mike waller and income intelligences by jury board devin nunes. that will do us fox business. have a great rest of the weekend. i will see you next time >> "barron's roundtable" sponsored by global x etf's. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the weekend. president-elect trump saber rattling to seize the panama canal and greenland,roht