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tv   Mornings With Maria Bartiromo  FOX Business  January 28, 2025 6:00am-7:00am EST

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maria: good tuesday morning, thank you for joining us. i am maria bartiromo it is tuesday junior 28, your top stories right now 6:00 a.m. on the east coast. a.i. dominance in the global race to win, futures or higher after yesterday's massive selloff in technology the dow industrial bounty 25 points, the nasdaq bouncing 1362 thirds of the present higher in s&p by 22, investors are watching chinese deep state with the cheaper a.i. model than americans cutting edge technology. which causes 70% selloff in nvidia stock $600 billion in market value wiped out in a day the single largest day the single day company declined in history and big tech earnings are out with the focus on what corpus are saying about u.s.
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competitiveness. in washington the senate confirming scott bass as a nation's treasury secretary with more hearings from trump's cabinet nominees. the president rolling out more executive orders to create an american iron dome and cancel di in the military trump given a marathon long speech in front of the republican retreat at his golf course in florida. , more on this coming up the first fed meeting of the year kicks off this morning a look at where investors stand with expectation of one or no rate cuts at this point the yield on the tenure of four basis points sitting on a level 4.57%, european markets look like this take a look at the trade in the eurozone with a s&p 100 is a 48 cat condo 33 and jackson expire by 146. in asia a mixed bag the asian embassies finishing with the cosby in the shanghai close for new year's celebrations, the
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nikkei down one and a third% back at home soldiers and marines stationed outer southern border as repatriation flights take off with ice setting insight on new york city next in the flooding of the illegal foreigners into america is finally slowing border agents recording less than 600 illegal crossings yesterday, something they say and they tell fox it's an unprecedented number and of course it compares to the peak overlooking a thousand, 7000 people coming in every single day, joining the conversation all morning long capital president david tawil is here "fox & friends" top pyro in cheryl casone, "mornings with maria" is live right now. ♪
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>> we kicking off with a hot topic of the hour investors are reeling over the emergence of deepseek the chinese a.i. chat that offended markets yesterday closing of record selloff in nvidia another technology stock take a look at nvidia up about 5% this morning after the huge solo the app sparking a wider conversation about the u.s. china technology race as deepseek was supposedly created for a fraction of the cost of american versions president trump speaking from terrorist florida yesterday. watch. >> the release of deepseek a.i. from a chinese company should be a wake-up call for our industries that we need to be laser focused on competing to end we always have the ideas and were always first i would say that's a positive development. instead of spending billions and
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billions you will spend less and come up with the same solution under the trump administration we will unleash the tech companies and dominate the future like never before. maria: all always bullish on america trump remaining unphased on the a.i. race. watches. >> are you concerned about china's dominance. >> we're going to dominate everything. >> white house a.i. encryptor czar david sachs wrote this on x it will be very competitive and president trump was right to resend the bite in order and the companies without asking if china would do the same i'm confident in the united states but we can't be complacent writes david sachs, trump his writing to keep a competitive
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watch this. >> in the future we're going to be placing tariffs on foreign production of computer chips, semiconductors and pharmaceuticals to return production of the essential goods to the united states of america they left us and went to taiwan with 98% of the chip business we want them to come back and we don't want to give them billions of dollars like this ridiculous program that biden has given everybody billions of dollars they needed incentive and that's going to be there i want to pay a 25, 50 or 100% tax. maria: fox business has confirmed that deepseek a.i. will not respond to any questions related to the ccp or the 198019 elements a protest, the uighurs, slave labor, whether xi jinping is a good leader no comment on any of that from deepseek, when asked about taiwan deepseek settings inalienable part of china this
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is coming out of the chinese communist party and it will act accordingly, he says this is about national security and we need to take a deep look at this. to your point air openly erases the ccp's history of oppression and we've got to leverage our technology to advance our a.i. ambitions this is about china stealing once again u.s. technology must be good clear and boil this down this is about the fact that the biden administration failed to stop the export of our chips in nvidia chipset are being used by deepseek we talked about this before the market opened. at the end of the day if you can't stop the average consumer from going to the app store which they all did yesterday and made deepseek the number one download in the united states taiwan, singapore, australia and then you have a problem.
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i was telling todd piro this is the ccp and the response from china and the horrific events in the country. >> i'm wondering if president trump can take a look at a potential immediate review of the chips that were sent to china in the previous administration joe biden another mistakes to send high-grade chips to china for as long as they did before they claim they were banning new trips going there. again everything that they see in america they steal rob, replicate replace, david tawil that is the strategy of the ccp we've been talking about this nonstop in john ratcliffe when he was in congress and dni told me the strategy of the ccp is very simple rob, replicate
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replace, your reaction. >> i would like you to take a bend on the sound from policy perspective but in investing perspective. the most important, of the day made yesterday from an investment standpoint was made by david sachs this is competition for those i go ahead and compete in this arena the united states for the consumer frankly this is a great thing if it could be done faster and cheaper at the end of the day we're going to have a better product at a cheaper price certainly for purposes of things like chips not necessarily having to use as much or energy not as much is out as well. for those stocks a difficult time but those folks going to go ahead and take advantage of the technology and be able to take advantage of it at a cheaper price at a faster rate that ends up being a win therefore we saw yesterday and jump up and meadows share price i would like to see where earnings are like
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this week and what commentary we have out of the earnings from meta, apple intel microsoft we will hear about that, that'll be a big? during the earnings calls. >> that's absolutely right now this occurred there will be lots of questions about competitiveness and where these company executive teams believe the u.s. is relative to china and president trump needs his team on the ground, the senate confirming scott bessent as treasury secretary 68 - 29 now trump has five cabinet members all ready to go, more confirmation hearings are set for this week tomorrow includes rfk junior for hhs secretary howard lot next for commerce, kelly loeffler for the small business administration thursdays hearings cash mattel, tulsi gabbard for director of national intelligence, my question i thought the republicans were in charge them the majority here and it feels
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like the democrats are running the table on who gets confirmed and when. >> it feels like connecticut senator chris murphy is pulling the strings in the minority in the senate even though point that should be the case in the whole government approach that will be needed to combat china during enemy not an ally. in utica need everything what of individuals in some capacity doing their part with the department to combat china it's not just pete hegseth and is not to scott bessent you need everything one including somebody like cash mattel the fbi, tulsi gabbard you need all these people growing in the same direction and they can't do that unless i get started and the need to get started now we need to stop playing games, this is a real threat that i would argue 99.99% of the american people just learned about within the last 24 hours the new chinese
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app kerfuffle and we need to respond accordingly and respond now. it's a good word, let's get a break come right back were just getting started futures are indicated again at the start of trading after yesterday's global selloff we are watching as we await a major earnings from boeing and the next hour portfolio wealth advisor president and chief investment officer lee munson is here, you're watching "mornings with maria" live on fox business. stay with us. ♪
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i need indeed. indeed you do. sponsored jobs on indeed are two and a half times faster to first hire. visit indeed.com/hire maria: [rocket firing] futures indicated again at the start of trading after the global technology selloff the dow industrial 27, the nasdaq up 146, two thirds of the present
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in yesterday was a different story, the nasdaq and s&p hundred lower as investors were selling on the chinese cheaper a.i. model deepseek in their way in the future of a.i. spending at the close yesterday the nasdaq was down better than 3% 612 points lower at the close yesterday partly due to nvidia vostok .17% yesterday a full $600 billion in market value wiped out one day that was the largest single day decline in history for anyone company, jensen huang losing $21 billion in net worth, he had a bad day nvidia telling fox business deepseek is an excellent advancement and a perfect example of test time scaling deepseek's work illustrates, new models can be created using the technique leveraging widely available models and computer that is fully export control compliance. interestingness export control compliance the stock reversing course, of 5.5% joining the
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wealth advisor president and chief investment officer lee munson, good to see you, your assessment of the bloodbath intact? >> i spent the whole weekend looking at this and all day in the war room every manager is thinking one thing are we going to buy nvidia and at the end of the day i decided absolutely not it wasn't until 2:00 o'clock eastern that it came to me in my analyst, what we have is 2026 here today what i mean by that we knew nvidia was going to have to share that market but we did not know how that was going to happen this was shocking we realize are not selling with amd or broad, they're simply going to be less demand i think this will be an amazing american renaissance of our industrial base because now that will be able to do the a.i. models sheet
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the talk about running models on. >> minis tied together whether a railroad company working on logistics a big scale homebuilder china put up the house cheaper banking finance healthcare all the little companies that we forgot are going to get a.i. products to help fnc's and it won't be at the end of next year. i think we could do this stuff by the summer. it's a complete game changer, frankly it was a shocking moment in my 28 year career to see how fast this wet. maria: i'm still questioning the cost that they claim to have paid five and a half million dollars to develop this while you have all the technology giants bending tens of billions of dollars on this microsoft spending $80 billion this year alone amazon 65 billion. openai 500 billion and then you're telling me that deepseek only spent $5.6 million. i'm not buying these numbers
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coming on china you say regardless investors need to look at the core economic engine of america instead of trading nvidia, what you mean. >> when you thinking about the ultimate, they're not doing it for 5 million, i know but we're still talking about 20 times cheaper even though that's overstated the whole idea about a.i. once everybody gets it no one gets it, once everybody gets it we will have increased productivity and increase gdp hours worked increase productivity what we want to get to in market where we can have an easy build some product things that basic consulting can walk up to company and say five this relatively inexpensive program or application that i integrate into your core enterprise system that will help workers from logistics to financials all the way down to a
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call center and be able to do that that's the golden goose right now we don't have that were still trying to get data scraped up and cleaned for the big scale use. by being able to do the models much cheaper air presumably kick them out faster we will give the reality into corporate america very quickly and that's what trump is talking about that's why were doing stargate it's not just about a faster chat gpt it's about getting the industrial base of this country tools that they need to supercharge productivity. even look at small value the whole universe has earnings-per-share growth over 30% trading under 13 pe and maybe by the end of the year you have a few more preset tactile because the productivity from the software is that we have not
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seen it's really amazing i don't know why somebody would invest outside of america at this point. maria: by the way we talk about this coming up with google maps change the golf of america you have to change it out on google maps. fourth-quarter earnings where meta, microsoft, tesla reporting "after the bell" followed by apple on thursday we are also waiting room general motors and boeing southwest airlines on thursday and then you have the oil giant chevron and exxon mobil out on friday, david tawil your assessment so far in expectation for the fourth-quarter earnings coming out tonight "after the bell". >> it's good to be interesting on a couple of different levels tesla everyone will be focused on what the company has to say to elon musk's involvement in the administration everyone will try to draw lines between elon musk's influence in a cushy relationship with trump and how
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that might help the company with respect to boeing very excited about that because i believe it's too big to fail company in the united states it's seen the worst days behind it and will hear about the turnaround diverting previewed results so the actual financial results are baked into the stock and lastly with respect to matter they will have to go ahead and address the deepseek reveal and what that will do for the company. >> final word i think meta is a winner i think but we needs to stick to commercial airplanes agree earnings this year end double digits. maria: double digit earnings, thank you. good to see you stay with us we'll be right back.
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>> welcome back house republicans are meeting with jd vance today at the trump trowel and florida as part of the annual conference committee chairs will hold reconciliation and how to pass the top agenda items in one big bill trump joining lawmakers for dinner last night and gave a speech discussing his top priorities
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and. >> in the coming weeks and looking forward to working with congress on the reconciliation bill that financially takes care of our plans to totally and permanently restore the sovereign borders of the united states once and for all. i'm also eager to get to work with congress on the largest package of tax cuts and reforms in american history we are going to get that done and we don't want to get hung up on the budget process we just want whether one bill, two bills i don't care. maria: georgia congressman buddy carter a member of the house energy committee, good to see you, thank you for being here what can you tell us about your meeting, how are things going. >> is going great this is my 11th year in congress and i never witnessed the electricity the excitement that surrounds president trump right now we are so unified and ready to get to work and make sure that we have
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a budget that will cut spending and make sure we put america first policies and make sure we achieve all the things and we can extend the tax cuts and job at a for unable to extend the tax cuts and jobs act people will be looking at the highest tax increase that they've ever seen we can now afford that, president trump understands that are members of congress understand that. >> mike johnson said he wants a bill on the president's desk no later than memorial day and newt gingrich said if you're going to do two bills and you actually have to separate the tax extension out of the big quote unquote beautiful bill then you have to get that done by the summer by july 4 the latest in order to have an impact is not realistic. >> it is realistic i prefer one bill we have three fractions if you will and are called fruits
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goes a one concentrate on the debt and i'm part of that. and those who want to make sure that we secure the border and really interestingly those that care about salt and those are the three that we've got to get together on this. if you take two bills, you lose your leverage with the border and was salt, that is the reason for the idea behind one bill but i believe if we do two bills we can get one done quickly and we can get both done. maria: let me get your take on this idea from president trump suggesting the 90000 irs agents hired under the biden administration could be sent to the border he also discussed external revenue service that he created to collect tariffs and fees and other payments from foreign nations earlier this month you introduced a bill that would abolish the irs and the tax code with the national consumption tax has this been part of the conversation how are
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you thinking about internal and next journal revenue service. >> i'm a big fan and i can do one upon the president in this case he wants to send 90000 irs agents down there and i can send them all beautifully going to consumption tax like the fair tax you can send them all or eliminate them completely because then people will be in charge of their own taxes not some unelected armed bureaucrat like it is now and we need the fair tax the time has come it is fair and simple in its consumption tax people prefer consumption tax. >> what do you think. >> with the numbers work with there be enough money from the external revenue service to compensate what we would lose from the internal revenue service. >> absolutely if you taken together under consideration the tariffs the president has been talked about and he talked about again last night he said it's
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his favorite word in the vocabulary right now and i believe him, we can supplement a lot of our revenue with the terrorist that is talking about imposing, don't tell me it doesn't work, it's proven to work just to leverage a columbia he got their attention really quickly tariffs now they will be glad to take people back. >> president trump declaring a national energy emergency to increase oil production gas executives told the new york times they don't plan on doing so unless prices rise significantly. your thoughts on where this is going, oil companies are embracing the regulatory are president trump's agenda but are they going to pump more? >> let's remember if you were to talk about a negotiator then you're talking about donald trump the ultimate negotiator and he won't negotiate this. i don't care where it is that i go in this country or what sector were talking about
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whether healthcare, energy or technology the message is the same everywhere ago, regulation the permitting they are crushing business we have to streamline that and get out of the business way. >> definitely that's a topic of conversation going on across the world. i tell you for sure having come back from davos everybody wants to adopt the trump affect gravity executive order envy. it's great to see you we will be watching your work. thank you. buddy carter in florida, china's model deepseek threatening u.s. dominance in the a.i. sector bringing the china tech toward a new heights air force and. daspaceofficer nicholas is hereo break it all down wait until you hear what he has to say. watching mornings of maria live on fox business. stay with us.
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>> the release of deepseek a.i. from a chinese company should be a wake-up call for our industries that we need to be laser focused on competing to win we have the greatest scientists in the world even chinese leadership told me that. maria: president trump speaking on china's new a.i. model deepseek as it threatens to undo dominance in the sector from the united states and became the most downloaded free program on the apple app store yesterday knocking rival gpt out of the top spot fox business converting
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the deepseek will not respond to any questions related to the 198019 anima square protests the weaker slave labor or whether xi jinping is a good leader they will not answer, when asked about taiwan deepseek set is an inalienable part of china joining me now sage foundering air force and space force officer nicholas it is a generative a.i. for government and commercial purposes, thank you so much for being here this morning. >> thank you for having me. >> you say deepseek is the next ccp sponsored weapon after tiktok, tell me more. >> is pretty obvious it was the first government official to call for the ban of tiktok, what you see the ccp using the data collected with tiktok to now use this to train the a.i. models with the bias of the ccp wants to push across the world.
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as you can see the new app that's been downloaded hundreds of millions of times is annexed weapon for the ccp to control not only information but disinformation. maria: the white house a.i. and crypto czar david sachs responded saying deepseek shows how the ally race will be competitive in president trump was right to resend the biden io which hamstrung the american companies without asking whether china would do the same one of deep seeks papers revealed they used 2000 of nvidia h800 chips from 2022 and designed to comply with the export controls they used the chips they were designed to adhere to the export controls and they are still winning? explain that. >> number one don't forget the ccp loves to lie about numbers so number one we know there are
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50000h1 hundreds billions of money spent on the most recent gpu so let's not forget this is probably not accurate number one and number two what you see with the models they've completely created a new way to train models which is way cheaper and way more efficient and now anyone can take this research and apply it to their own training models, that's what you see with companies like meta and google and openai creating and putting a bunch of engineers to figure this out in now that they realized were eight days away to do this in an efficient and inexpensive way but keep in mind their line about numbers in the models not as good when you think the benchmark is very easy to cheat the numbers because they know the exact answers to provide to pass the test.
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when we test those and real-life scenarios they're not as good as they claim to be. maria: i tend to agree with you what is that saying fake it until you make it. i think this chip obviously has more strength than people expected is better than people expected but i'm not buying all of this type in the fact that there saying it took $5.6 million to develop seems wildly made up. what is the real deal with the a.i. model. >> what's more frightening is the fact that the department of defense for the last four years failed to innovate and embrace a.i. they have been spending so much money billions of taxpayer money nde and ethics a.i. research instead of finding a way to use a.i. for war fighting purposes. that's a big deal using the
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biden administration feeling that in 2023 a.i. models with openai google and meta in the u.s. companies into the dod except a couple of teams with the u.s. army innovating in the air force spending 15 to $20 million building their own capabilities in a vacuum spending taxpayer money and wasting instead of using commercial solutions that's a big downfall we will not win this war against the ccp that we don't ponder together that goes with a.i. from elon musk and openai from working together to have united fight against the ccp. maria: it's unbelievable the amount of money wasted in the last four years of the things to be politically correct as opposed understanding the
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national security threat this country faces it is beyond it is incredible. david talley wanted jumping. >> with respect to the skepticism of the capabilities of the folks in china this was developed by hedge fund burros this is not there full-time job so their ability to go ahead and attack something so challenging and difficult in a quick amount of time and little money you skepticism is very well-founded in terms of the selloff yesterday in the market. imagine if openai was a publicly traded company while with the downdraft been i'm sure sam altman is dealing with a number of calls today and yesterday to explain to his investors exactly what challenges deepseek presents. by the way we haven't talked about alphabet they have their own a.i. module by the name of
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deep mind and they are in this race as well coming back to you skepticism around this i think u.s. innovation and ingenuity is certainly really strong in the ability of the chinese to go ahead and lapis is skeptic. >> final word from you i think xi jinping is a lot weaker than people understand physically as well as a perception of the people in china there also trying to beat us to space president trump says he wants to go to mars and he said elon musk will help them do that, your thoughts, is not realistic. >> i think with elon musk and donald trump everything is possible if we put all the energy to achieve it i think were going to get it done and obviously we need a new one it's
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been so long to innovate and get the sun is perfect timing. >> a lot of innovation the president talking about the island dome for america zeroing in on national security could to get you to nicholas joining us. a quick break the staggering numbers of improper payments made by the government and one year. we have the report lacks. wait until you see that you're watching "mornings with maria" live on fox business.
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maria: one of president trump's latest executive orders is to give the united states and added layer of defense the iron dome cheryl casone with the details. i love the story. >> president trump says that construction of iron dome like a shield for the united states will begin immediately he made the announcement at the conference dinner in florida. >> i will sign for new executive orders. first and directing the new secretary of defense pete
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hegseth he's what we need to immediately begin the construction of a state-of-the-art iron dome missile defense shield which we will be able to protect americans and you see that with israel out of 319 rockets they knocked on just about every one of them. i think the united states is entitled to do and everything will be made in the usa, one 100%. >> you heard it mentioned pete hegseth albion big key developing the system. the final confirmation for sean duffy trumps choice to leave the transportation department suffer later today this after scott bessent was confirmed as treasury secretary 68 - 29 vote and the senate in more confirmation hearings are set for this week tomorrow includes rfk junior howard lutnick for congress and kelly loeffler for the small business administration thursdays hearings include cash for tougher a fbi director and tulsi gabbard for national
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intelligence. big changes are coming to amazon with whole foods ceo taking over the entire grocery business. he will oversee all of amazon's line of fresh market, cashless stores in the online grocery business all while maintaining a spot at whole foods and running the physical stores. whole foods workers in philadelphia forming a union and the first time in decades workers are seeing higher wages and benefits, whole foods sentence disappointed by the vote but they're committed to a positive working buyer met take a look at the stock in the premarket the stock is down half 8%. get this in report from the government accountability office euros federal agencies made $161 billion in the proper payment in the last fiscal year that was 2024, 2.8 trillion in waste if you added up since 2003
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the jal is multiple agencies with defense, labor and treasury and education, the va the small business administration all made proper payments like duplicate. payments that were not deli delivered. money sent to individuals not eligible for the and listens. president trump stay one create the department of government efficiency, to which is supposed to katana wasteful government spending, this comes on the heels with the president trump in the white house ordering the freeze on federal grants and loans out of step with his priority in executive order the memo from the white house says each federal assistance program has to be assigned a senior political appointee that will ensure federal financial assistance conform to those priorities i was looking at the foreign aid, ngo, dni clean energy but make sure the critics don't start yelling this is not social security or medicaid or medicare to be clear.
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maria: there's so much waste when you have a new leader in the white house president donald trump who is focused on cost and putting america first we are uncovering all of this behavior all of the bad moves in the wasteful spending that is gone on for years but particularly in the last four years he has a lot to undo, president trump he has deep-rooted habits to go ahead and eradicate. i hope is a normal american citizen the elon musk and vivek ramaswamy unfortunately has left but they get down to the wasteful spending. any private enterprise that any of us work at this bloat is not tolerated and it should not be covered under tolerated at the end of the government. taxpayers like us go ahead and fund this that is inappropriate.
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>> it's more than that at the last four years of being so afraid of what to say that you will get canceled and the division in america that was created because you were afraid to say anything all of the money spent on di to be politically correct, people are so relieved that that's in the past. >> you talk to people and there was a sense they were excited after the election but the last week i feel like old weight has been lifted off my shoulders what frustrates me about the underlying story, not the fact that people on the other end of accepting people, there will be money by fraud or normal means if you want to give me billions of dollars will take it it's the approach from the government when we throw our hands up and say this is the way it has to be. it does not have to be this way in this administration will make sure that it changes.
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>> we will follow all of that, southern california receiving much-needed rain further contains ola wildfires but new fears are emerging over mudslides and debris flowing in areas scorched by the wildfires increasing the risk of toxic ash runoff. marissa torres with an update there. this ended up being beneficial rain we had instances like you showed minor mudslides with my going out to some of the roads topanga canyon had to shut down portions of palisade stride had to shut down but overall people were able to escape this and see release when it came to the hotspots burning within the fires overall old containment for the hughes fire, palisades in the in fire we haven't half an inch to enter half we would need much more to ease the
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drought first time southern california has been an extreme route in two years we will need to - 4 inches to calm out of that and escape the wildfire threat but the reality we do not want that all at one time because then we would have increased risk for flooding and we would need is spread out. were inching our way out of the wet season so time to get the rain is closing. maybe rain towards the end of the weekend or early next week but the models have a tough time on what we can see from that. we will continue to watch it let's get back to the flashback trivia question in 2022 a blizzard caused widespread damage and impact from the atlantic coast into the northeast. how many inches of snow fell in central park is at six, eight, 19 or 21 inches back will be used to get good snow. while the answer coming up in the next hour. maria: thank you. a quick break. more right here, big hour coming up. about two "mornings with maria"
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