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tv   The Faulkner Focus  FOX News  December 13, 2022 8:00am-9:00am PST

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we're expecting more updates later on today. >> dana: mark meredith, thank you. he can read fast. >> bill: quick two hours. a lot covered. >> dana: indeed. more to come today. we have "the five" coming up today. >> bill: lovely outfit. >> dana: thank you. it was great being with you today. harris faulkner is up next. here is the "the faulkner focus." >> harris: fox news alert now. his young mastermind ideas were supposed to make people rich beyond belief. now disgraced sam bankman-fried, the founder of the failed crypto currency exchange ftx is a felon in the bahamas. he was the second largest democratic donor this last election cycle shelling out tens of millions of dollars. what did he get for investing so heavily in that democrat political party?
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i'm harris faulkner and you are in "the faulkner focus." americans want answers but we won't get them today. his testimony on capitol hill before congress is now on hold. bankman-fried arrested in the bahamas last night one month after ftx was forced to file for bankruptcy after an astounding $8 billion shortfall. and it's an implosion affecting more than just crypto currency investors. in the world of politics, a major player for democrats as i just mentioned. let's dig deeper. he donated nearly $40 million to party causes and candidates last election cycle. second only to billionaire liberal activist george soros. some are scrambling to off load that dirty money. can they do that fast enough? others we're not so sure. house financial services committee going ahead with the hearing despite bankman-fried's absence. >> i look forward to getting his
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lies on the record under oath. envelopes the arrest of sam bankman-fried is welcome news but still does not get to the bottom of what happened at ftx and why it happened and who else may be responsible. >> harris: the key witness today ftx's new ceo john ray. >> ftx groups collapse appears to absolute concentration of control in the hands of a small group of grossly inexperienced, unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a cohen trusted with other people's money or assets. >> harris: we brought together a special panel of legal experts standing by. fox news contributor leo terrell is here and former acting attorney general under trump matt whitaker is here. they will be together. let's go to fox business's kelly o'grady for the latest on bankman-fried. >> good to be with you.
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we've been building towards this arrest but the story is still developing by the hour. let's get right to the indictment from the u.s. attorney's office of the southern district of new york. it has been unsealed. sam bankman-fried is looking at eight counts. conspiracy to commit wire fraud and fraud money laundering and violating campaign finance law. i got off the phone with a lead witness in the mad off case. that campaign finance charge is quite interesting. i want the touch on it. what ftx and others are accused of is fraudulently donating under other names as a workaround to political contribution limits. he donated close to $40 million. it means the figure is larger. crossing this morning are sec
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charges. the latter complaint is alleging that he york orchestrated a scheme. something john ray's testimony today confirmed. i want to share a quote from sec chair who sbf met with numerous times. he says ftx operated behind a veneer of legitimacy that was fraudulent. the collapse highlights the real risks that unregistered crypto asset trading platforms can pose for investors and customers alike. that line foreshadows how regulators will seek to use this for regulation. no request has been made yet. we can expect it coming. there is a lot of frustration surrounding why it was brought just before he was supposed to testify today. i want to note the indictment was actually filed under seal on friday and that was when sbf was
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mulling over if he was going to testify. it wasn't a last-minute decision. >> harris: let's move to leo terrell, fox news contributor, civil rights attorney. and matt whitaker former acting attorney general under former president donald trump. great to see you both. leo, i will start with you. just on the point of the political, of democrats and how much money flowed from kelly's reporting, she just said that there were fraudulently donated dollars under other names. how do you even do that? >> i'll tell you right now a lot of emails and wire transfers as to how this money was sent to democratic politicians. the key here is this. you have to also make the assumption, harris, that a lot of this money was not bankman-fried's. it wasn't his at all. it is not just the money going to these politicians. it is the money that the source of the money. was this the investors' money
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and how it got to the politicians. bankman-fried's lawyers will now look at all the emails and d documentation they can point to other individuals involve. these charges mention conspiracy. the timing of this indictment is very suspect given the fact, harris, that he was going to testify today. a lot of people were protected by him not testifying today. >> harris: let's get into that, matt. what does it look like when somebody pulls away from an agreement that he has said the night before because he was busy he couldn't actually go to congress but that he would do it by zoom basically? >> his exposure is broad and deep. so going to congress and telling his story i think was not the highest and best use of his time as someone that has counseled people. i would tell them you don't want to tell your story in front of congress right now.
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he has been way too high profile in telling people what his version of the story is. this looks like a plain and simple fraud and eight-count indictment will only grow as the feds get into this case. >> harris: you talk about the high profile nature. the only thing we've seen like this is recent years is bernie madoff. the prosecutor there is talking. it is highly unusual for someone to be conducting media interviews where he discusses the conduct being investigated. no criminal defense attorney i know would recommend doing that. no matter how careful mr. bankman-fried thinks he can be, it's almost inevitable that something he says will come back to haunt him. that just adds more fuel to the fire of what you are talking about, matt. let's go one more with matt and leo i'll come back to you. the bahamas are holding them
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wanting to put him through their court system before being extradited to the united states. what is he facing there? >> i thought it was an interesting development that the u.s. hasn't sought extradition. bahamas are not only want to prosecute him under their law but remember my understanding is they are holding $3 hundred million worth of money that was seized from ftx, it's in crypto in cold storage. not online. so they will want to resolve the claims under their system before they ever turn him over to u.s. authorities. it will be interesting to see as this case develops how soon u.s. authorities have get their hands on him to prosecute this. >> harris: the players, leo, got a lot of attention as too cutesy, whatever but could be a big problem. the "new york post" op-ed suggests the so-called king and queen of crypto , their con
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could be turning on her. after bankman-fried suggested she might be blamed for a missing $8 billion in customer money, caroline ellison could be suggesting she is willing to flip with the hiring of the law firm. what is your response? >> no question about it. let me say right now for the eight counts are conspiracy. a network of people working together to defraud and all these committed crimes. i guarantee you for these charges to be filed or under seal and now released, i guarantee you that some of these individuals, his girlfriend might be working with the fed. i guarantee you that in order to get some form of exoneration from this there is going to be cooperation from so-called his inner circle. his girlfriend is possibly one of them. i also believe he has a laundry list of star-studded witnesses that he can rely on. it is a definitely a destruction
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of that network of people working together. some of his closest allies are working with the feds i guarantee you. >> harris: how nervous should people be today, matt in terms if you're a democrat and got some of that cash? >> should be very nervous, first of all, because it appears to be stolen from other people and donated. this straw donor scheme that was just revealed i think will add another layer to this. in such a closely-divided world in the elections we saw in november. so many elections were decided of tens of thousands of votes and it is a real problem here. this money probably tipped the scale in maybe a couple of those elections. >> harris: that's troubling. you already have so much engagement at a time when democrats were saying voters can't get to the polls. if it rains, they will be thirsty. left out in the cold in georgia and other places and north of 3.3 million people voted in that state alone and you add in now
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perhaps some sort of meddling with potentially with this donation cash and what you called it, the straw donor scheme. i can't imagine how you off load that cash now. everybody's cash is being watched. leo, i come to you for the last one. what could bankman-fried face at this point? what will they get him on and what does he face? >> this is -- now in the hands of the lawyers, harris. i tell you right now he could be a maximum life in prison. it will be a plea deal. some type of deal. do i see the case going to trial? no. he is surrounded by a bank load of lawyers. there will be give and take. somebody has to be the fall guy. i don't know how many fall people there will be but i guarantee the evidence we would have seen has been lost because of this indictment. he won't testify publicly. he will never testify publicly in my opinion but a deal cut.
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how many years, we don't know. >> harris: is that fair? we know the rich are entitled. look how many lives have been damaged with this. >> that's the thing about it. massive risk, people who put their investment, life savings, pension and there is no recourse. stand in line in bankruptcy court. you will have a long wait. sec might get penalties and fines. the people who invested millions have lost it is the honest truth. they've lost it. >> harris: so glad to have a special panel. great to see you both. merry christmas to you. thank you. >> thank you. >> harris: republicans are tearing into president biden's handling of the border crisis now because in the last 24 hours it blew up. just wait until title 42 ends on december 21st. we know people are massing on the other side of the border. mexican police are fighting with people from venezuela, setting
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fires in their camps trying to stay warm waiting to get in in a week or so. new inflation numbers are out today with mixed reaction. fox business's larry kudlow says this. >> prices are still up 7% and even excluding food and energy. food prices are still strong. you have a split story here, okay? wall street likes it better for stocks, main street still has to struggle with higher prices. >> harris: and we know it's basically two americas. the latest report showing americans are still dealing with what it costs to eat and heat this holiday season. steve forbes on the mez with me next in "focus."
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>> president biden: make no mistake. prices are still too high. we have a lot more work to do. things are getting better headed in the right direction. most americans can see the progress. what is clear is my economic plan is working and we're just getting started. >> harris: that was about 30 minutes ago the president taking a victory lap and new inflation numbers for november are out and they show the prices rose by 7.1% year-over-year. it is a small dip from 7.7% increase in october. and families who don't live in the white house, meaning everybody else in america, still feels the pain of high prices. many household items are still dramatically more expensive adding to americans' struggles this holiday season. food staples. my favorite meal is breakfast, eggs, butter, flour, painfully pricey. republican lawmakers point the
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finger at the blue team. >> this inflation crisis that joe biden and one-party democrat rule in washington created is going to give every americana blue christmas for sure. the price of christmas trees have gone up, the price for presents under the christmas trees has gone up. food on their table and clothes on their backs and gasoline in their car, everything is costing more. >> harris: forbes.com also questions optimism with this headline. the coming cpi inflation report will be sketchy. so view media and market reactions skepticly. steve forbes is here. why do we not trust in what we're about to see with the cpi index? >> because it's volatile from month-to-month. the fact of the matter is prices are going up as larry kudlow pointed out earlier.
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this fall in gasoline prices is in part because they are draining the strategic petroleum reserve. that can't go on forever. still suppressing energy output in the united states. the only way to get prices down further is by depressing the economy. wages are starting to go up. the fed does not think that's a good thing. they want to suppress wages. the only way they know how to fight inflation is by making people poorer. so that's why you take these things with a grain of salt. so the fed is going to raise interest rates by half a point tomorrow, we're supposed to be happy it is only 50 basis points. the economy still has rough sledding. people's standard of living will take a hit next year, that's the bottom line. >> harris: what does rough sledding feel like compared to where we are now. >> you'll be worse off 6 or 9 months from now than you are today. >> harris: it will have been two
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years almost. >> that's the crazy thing. there is stagnation like you've had in europe where they think 1 or 2% growth is the norm. we usually grow 3 or 4. we're going the direction of slow stagnation what we had before 2017 before we got deregulation, big tax cuts and other things and why 2024 will be so important election. which policies do we adopt, pro-growth or stagnation? >> harris: i don't want to mix too many things. how do we absorb millions of people coming into our country. and i mean millions. many more millions because title 42 will go away. what hit does that bring on the economy? >> more people will be either seeking benefits, costly, or jobs, which are not going to be quite so plentiful. right now there is still a lot of job wanted out there. as the economy slows, those will disappear very quickly.
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and so you are not going to have this rosie job picture which the federal reserve thinks why they have to put the real burdens on slowing down the economy, make the economy grow slower or go into a formal recession. the fact of the matter is people are not better off where they were two years ago. and the next year is not going to make them better. that's the bottom line. it's so unnecessary. >> harris: let me show more proof and we'll get back to what the white house and biden administration could be doing. a federal reserve report finds that american households lost $6.8 trillion in the first nine months of this year. that's across the total of 124 million households averaging $55 thousand apiece. your household personally in america losing $55,000. that's like somebody getting fired at the dinner table. >> the biden administration will
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take some comforts markets have gone up recently. the trend line is flat to down. wealth is being destroyed. we're seeing it in housing prices which were once booming. now you can't sell and you can't buy because sellers can't afford to sell because of their mortgages. so it is a pretty rough situation. >> harris: why won't the biden administration at least tell us part of this now. it is coming anyway. they are about to tap the other type of oil reserve for heating. so you've got the gasoline that you need to put in your car and if we go by the way of countries like switzerland, most of our grids as you know are based on fossil fuels. they're telling people don't plug in your electric vehicles or anything major that draws electricity. this is unbelievable actually. >> it is and self-inflicted austerity that hurts the most people with the least. we say we have to help them out. help them out by having a
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booming economy instead of deliberately depressing the economy and not creating conditions for the boom we know is within us if they just get off our backs, cut regulations and taxes. it is amazing how good the economy has held up despite tall abuses. if you want to see the future, look at europe or france where they average 1% growth over a generation. that's not america and it is not necessary. i think that will be reversed in 2024. i hope the republicans start to show they mean what they say in spending in the next couple of weeks. throw everything in the bucket year end resolution and throw in hundreds of billions more in spending. let's see if they say no, no more increases. >> harris: time for republicans to show their cards. >> if they're real. >> harris: the boom within us as americans is the positive. steve forbes, thank you very
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much. >> part of our dna. >> harris: we can get it done. part five of the twitter files drops. >> presid >> the larger story is collusion with government and twitter. this is how they operate and a sign that the left's primary focus is to shut people up, to shut down the conversation. >> harris: the new revelations show how president trump was banned despite not breaking any of their rules. murderous dictators who promote genocide got to stay on the platform. come on, this is a double standard. it is not even a question. jason chaffetz in "focus" next. all across the country, people are working hard to build a better future. so we're hard at work, helping them achieve financial freedom. we're providing greater access to investing, with low-cost options to help maximize savings.
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violence and genocide on twitter and staffers found the former president did not violate policy but banned for the platform anyway. bari weiss released this. less than 90 minutes that employees had determined it wasn't -- they asked whether it could be coded incitement to further violence. republican lawmakers want answers. >> this is groundbreaking. earth shattering information that should concern every american regardless of which side of the aisle you are sitting on. and so this is as we gain more data and more information, we need to make sure that we move appropriately to insure freedom of speech is applied to everyone equally. >> harris: i wonder how any of that might have impacted voters? mike emanuel now has more on the latest.
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mike. >> good morning. independent journalist said after january 6th, twitter employees organized to demand their employer ban trump. there is a lot of employee advocacy happening, said one twitter employee, she added we have to do the right thing and ban the account said one staffer. obvious he will try to thread the needle of incitement without violating the rules said another. twitter executives banned president trump even key staffers said he had not incited violence with his final tweets. jonathan turley offering this reaction. >> what it reveals is a type of hair trigger environment of people just looking for any basis to ban donald trump. >> elon musk has promised upcoming twitter files releases will address how the social media giant handled covid and those who had different opinions about covid lockdowns,
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vaccination and more. musk has been aggressive in his criticism of dr. anthony fauci tweeting his pronouns are prosecute/fauci. one expert had his tweets hidden by twitter who said -- >> if there will be a lot of people that will counter that. it's the right way to approach free speech. operates by discussion. so if you have twitter suppressing that discussion, they are suppressing science. >> he learned more about him being black listed at twitter headquarters. >> harris: jerry baker head lined elon musk twitter file revelations are instructive but not surprising. these revelations matter, however, not because of anything they tell us about twitter, they
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matter because they show the way an entire generation of people who occupy positions of influence think about knowledge, truth, and opinion. jason chaffetz fox news contributor and former utah congressman is in "focus" now. jason, that's really jarring that people behind the scenes at twitter and even at very high levels have such a different idea of what freedom of speech looks like and what opinions and how you mix it together and put it out there. >> this cancel culture is really a dangerous one. what will be interesting, harris, there are obvious lines of questioning for what congress is going to look at. probably less obvious are things like, for instance, did this shadow banning, depression and suppression of content, what happens when people were actually buying ads? part of the allegation here is when money was being spent, they would suppress that. that's election interference.
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that brings in the fec. the other thing it will bring in i've long advocated, i don't understand where is the federal trade commission on this? when you sign a contract and user agreement with twitter you get to follow people and they get to follow you. they will say well there are algorithms because you can't possibly see everything. nowhere in the agreement says will they limit the discussion based on your political affiliation. we will make a political decision here because 98 to 99 percent of the donations going out the twitter were going to democrats and only want their message out there. when i go buy a box of cereal with 16 ounces of cereal. if it has eight agencies will go after them. when twitter is suppressing this information because you have the righteous, you know, new generation of people who say oh my goodness, you can't hear donald trump talk about american
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patriots. we have to shut this down. somebody has to pay the price for that. not just the company, but individuals within that company that were violating the law. >> harris: look, much has been said about the small percentage of americans who are on twitter. actually that number has grown since elon musk bought the platform. but many people would check in every now and then just to get their particularly political information before elections. a few minutes ago it was my question here. doesn't mean you are a full-time users of the platform but it has a lot of information on it. so people might look at what they saw with regard to donald trump and the suppression and depression there of his words and his political point of view and look at it negatively. might have been in his own party. how could this have affected voters potentially who were checking in and out of the platform? >> it obviously had to. it is one of the biggest platforms out there. they are doing something like 90 billion impressions a day right
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now at twitter. even if that number was smaller during the election, again a candidate buying space, paying for that service, getting out their information. it is not just twitter, folks. we're talking instagram, facebook, a whole host of things. i want to know also who in the government was contacting these people? that information should be readily available. who was putting the pressure on them. not just out there saying we should do this. who in positions of authority, people who were the regulators of these companies, was calling and saying you need to do this? that's undue influence. >> harris: we've asked those questions about the hunter biden laptop story and the f.b.i. and potential white house connections. we'll continue to stay on it. thank you very much. good to see you, jason. the end of title 42, the trump-era border policy that kept people south of the border, slowed down the surge so we
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could catch up on processing and the like. that end is eight days away now. the floodgates have already burst wide open. officials on the ground say it is a catastrophe of epic proportions like they've never seen before and been bad for a long time. republicans say the chaos falls on the biden administration. could another democrat defect? >> both sinema and manchin may find themselves pretty soon in that kind of situation. the democratic party moves further and further to the left and for anybody who has an independent sense of thought, it is a very uncomfortable place. >> harris: senator joe manchin says he has no plans to ditch the democrat party right now. what could change his mind and the makeup of the senate. ♪
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>> harris: weather alert. late season tornadoes tore through texas and oklahoma. multiple homes leveled and debris falling from the sky early this morning.
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one twister touched down in outside the dallas fort worth area and another south of oklahoma city. the beginning of what meteorologists are predicting days of severe weather across parts of the region. >> we're talking about title 42 being lifted and what it would do in the community. we have to be cognizant with the fact that it is already here. look at the vast numbers increased in the past couple of weeks especially in the last 3 or 4 days. those numbers are unsustainable and it's with title 42 in place. >> harris: when somebody is leading so many in the city of el paso. they say the numbers are unsustainable we need to listen to that alarm. we're now just eight days away from title 42 expiring with thousands of people waiting across the border. i had described this earlier this hour when steve forbes and i were talking about the financial impact that this will
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have on our country and in our communities. they are not just going to stay at the border. they will fan all over. el paso city manager just then was talking about they see a daily average of 2,400 people coming across. that was just over the weekend. fox news cameras captured video of more than 1,000 illegals entering el paso in a single mob formation. that's considered the city's largest-ever single mass crossing. republicans are blaming president biden's policies and say it is not an accident. >> this is not a failure of biden policy. this is a successful biden policy because they want an open border. what you saw this weekend is going to be nothing in just a couple of weeks. >> this is what the biden administration has caused. the only problem is the hemepeople that live it are those on the border. it is pure chaos out of a
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hollywood movie. >> they are in a state of denial. mayokas denies it a problem. he calls it a challenge. >> harris: the president of the united states is planning a trip to mexico city in the new year to put pressure on that country on illegal immigration. he has yet to visit our own southern border, our side of it to see what american towns and communities and counties and sheriffs and national guard and border patrol are living through. bill melugin live in la joya, texas. >> good morning. dhs secretary mayokas will visit el paso today meeting with front line border patrol and cbp agents. his schedule hasn't been made public to the media. if he goes around town here is what he might see out there. look at the footage our team shot in el paso last night. migrants living on the streets. hundreds of them have been released by border patrol to the streets in el paso in part
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because of the large caravan tougher weekend and huge numbers they're seeing. typically they would release them to a shelter or ngo. all the shelters are overcapacity as are border patrol facilities. they have more than 5,000 people in custody. they've been releasing people to the streets. this is 1 little street corner we went to last night where you can see dozens of people sleeping, camping, waiting. they have nowhere to go right now. we'll take you down to brownsville. more mass releases to show you. our team outside of a parking garage in brownsville where we once again witnessed border patrol and the federal government mass releasing hundreds upon hundreds of migrants at this parking garage in downtown brownsville. they are all single adults. walk in single file line to a local ngo and that ngo helps get the travel documents together and they travel all across the united states via bus and via the airport. this has been happening for nearly a year there now and
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border patrol sources tell me they're doing upwards of ten buses every single day there of these releases at this point. then we'll take you to the mexican border city directly across from brownsville which we just showed you. there are thousands of migrants there waiting for title 42 to drop in eight days. we went to local streets, to public parks and found hundreds of migrants camped out waiting for title 42 to drop. in eight days these people you see are planning on walking across the border and entering the united states illegally. how bad has it gotten? look at the tweet from the chief of u.s. border patrol. he tweeted in the past 48 hours border patrol has seen 16,000 plus migrant encounters, over $97 million worth of narcotic busts. four firearms, three gang members. two sex offenders, to murderers. one injury to a child.
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another weekend of hard work by our agents. it all happened in a single weekend. cbp sources telling fox news just today we've now crossed the half a million migrant encounters mark for fiscal year 2023. the new fiscal year began october 1st. that means in just 74 days we have now hit more than 500,000 migrant encounters. that averages out to about 6,800 every single day, harris. we'll send it back to you. >> harris: you and i were at the border together and we talked about gotaways. do they have any idea from the cran censors what we're looking at? >> the first two months october and november we're looking at over 135,000 known gotaways, harris. 73,000 last month. >> harris: those numbers are jarring and our people are
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outnumbered. thank you. bill couldn't make it any easier to understand. administrations officials say everything is under control. here is jake sullivan. >> we do have estimates of how many encounters there are at the border. we believe that system is a system that does an effective job of being able to determine who is coming across the border and what the right way to deal with their case is. >> are there concerns over the title 42 expiration? >> we're taking steps to be able to manage the expiration of title 42 and put in place a process that will be orderly and humane. we believe that in doing so we can protect our national security concerns. >> harris: he better be right. the cover of the "new york post" reads rush hour. thousands wait until the border will be put wide open. most people shouldn't qualify
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but biden lets them in anyway. our panel is here now. this will be a lightning round. let's begin with jose. if you can approach defending what this administration is doing right now as our agents are seeing a tick up in suicides. >> it's a tough issue. just last week they caught 1.5 million pills of fentanyl at the border in arizona. border patrol, this administration are doing their job. if you want to do a better and faster job pass border enhancement. a bill in congress which you get pass, the budget has hundreds of millions for border enhancements. if republicans care about immigration let's put more resources on the ground. let's stop finger pointing. >> harris: but jose, again we have to keep it quick. you know that the problem isn't
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just pouring money on this. you have to slow down the surge. can you imagine 18,000 people projected a day coming over when title 42 goes away in eight days? >> insanity. what bill melugin showed us is a complete dereliction of duty by joe biden himself. what his policies have done, fiscal year 2022 we saw 2.7 million people that we know of come here. fiscal year before that 1.7 million that we know of. a year later you have a million more people not to mention over 100 people on the terror watch list that have been caught that we know of. this is a bipartisan issue. should be a bipartisan issue. it takes a president willing to acknowledge this is a major problem. not simply a challenge. it is impacting the lives of millions of people. for the first time in you are country's history in a 12 month period we've seen over 100,000 americans who have overdosed from the use of drug.
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for anybody to say anything outside of this is something that we need to work on immediately is gas lighting and lying to us. >> harris: gentlemen, i have to let you go but when we come back together again, let's talk about title 42. you know they don't have -- they could move that date. the white house could do that. maybe they'll do the right thing and push it back to stem the tide while we catch up and maybe spend some of those resources to hire more people and judges. good to see you both. "outnumbered" is next. you as a veteran is the eligibility for a va loan, for up to 100% of your home's value. if you need cash for you family, call newday usa. with automatic authority from the va, we can say yes when banks say no... give us a call. ♪ my name is austin james.
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>> harris: along with my co-host emily compagno, "outnumbered," joining us is kennedy, jackie deangelis and charles payne from fox business super stars, good to see you guys. begin with long list of fraud charge

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