edward lawrence at the white house with more. edward. >> reporter: go figure, neil, nobody takes an iou written on a napkin what it might have to come to. treasury secretary janet yellen sent up a flare, warning signs to leadership, saying the government will run out of money on thursday. instituted, or will institute extraordinary measures to extend the length government money will go so it won't run out on thursday. the letter says in part, treasury is not currently to provide an estimate how long we will extend to pay the government obligations unlikely cash and extraordinary measures will be exhausted before early june. this gives republicans and democrats a chance to work it out. the white house now passing the buck. >> we will not be doing any negotiation over the debt ceiling but broadly speaking at the start of this new congress we're reaching out to all of the members through the office of leg affairs making sure that, making sure we have those connections with the new members as i just stated. >> reporter: new house spea

edward lawrence spoke with labor secretary marty walsh.ee what he has to say after this. ♪ ♪ i got all on the line for a piece of the promised land ♪ at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ stuart: look at the rally. look at the rally. the dow is up 509 points. the nasdaq is up one hundred 24. significant gains. that is because we had a strong jobs report earlier this morning. factions are satisfied from the fed to main street. and the service sector reported at 10:00 eastern, that is weakening, exactly but the market likes. edward lawrence is with me. what is the white house saying about the jobs report? 223,000 jobs, down goes the on employment rate, what is the white house saying? >>

to edward lawrence live at the white house. ward, does it look like lawmaker can cut a deal by thursday? that seems awfully close. reporter: no, that's not going to happen but the treasury secretary will institute extraordinary measures to make sure the u.s. has enough money to not reach the debt ceiling till about mid june and basically the treasury department will not put in money to various health and benefit funds so the treasury department on thursday will suspend new investments into the civil service retirement and disability fund and the postal service retiree health and benefits fund. the treasury department follows that by suspending investment in the government securities investment fund for federal worker retirement plans. president biden saying today that he will work this out with congress, but his spokesperson says not on the debt ceiling, listen. >> i'm ready to work with the new republican house on any republican or any republican congress to make progress for the people of america. >> we will not be doing any n

here we stand now a couple of days from being on the brink, again, edward lawrence at the white house and how they plan to deal with all that. they've got to, i guess, edward, contingency plans, they have to, do we know what they are? reporter: that's exactly what they're doing here. we're not going to hit that debt ceiling on thursday because the treasury secretary announced she's going to do what's called extraordinary measures to stretch out the money that the federal government currently has. now, first, they're going to suspend basically putting into government retirement health benefit plans and they'll suspend the investments and the civil informs retirement and -- service retirement and second the treasury department spending investment in the government security's investment fund for the federal work herb retirement plans. the secretary says thiothece moves will extend the money the government has until at least mid june. hire's the new house speaker on sunday morning futures about the current spending. >> eliminate all the money spent on woke itch. eliminate all the money th

party leader in a major house of government certainly in this country but it is interesting, edward lawrence is coming up, to talk about where mitch mcconnell will be tomorrow, with the president of the united states. we will focus on that and it is my chance to thank edward. we did such a good job that i rushed back to protect that. the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. who's on it with jardiance? ♪ ♪ we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill, jardiance. jardiance not only lowers a1c, it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose so

edward lawrence in mexico city on what we might expect. >> reporter: a very hot topic.eaders will meet, the leader of mexico and canadian prime minister meeting, the trilateral meeting will culminate those individual meetings between each of those leaders. in the last hour president biden finished his bilateral meeting with the prime minister, justin trudeau. in that meeting those leaders, biden says the two countries can be a clean energy powerhouse. >> president biden: what we should be doing, what we are doing is demonstrating unlimited economic potential that we have when we work together. and to help the entire hemisphere. there is a lot we will be talking about including energy. we should be the clean energy powerhouse of the world. >> reporter: later though three leaders will make remarks together, then take only one question each from reporters. there will be a joint statement with deliverables from the summit. those include creating a specific trade block with emphasis on the environment, the president wants to have semiconductor supply chain's and increase inf

edward lawrence at white mouse with more. eporter: because of the deadline, treasury secretary will do extraordinary measures to make the government doesn't reach the debt ceiling until mid-june. they will not put new investment in government health, benefit funds allowing that ceiling not to be hit until the summer. president biden saying he will work with congress but his spokesperson said not on the debt ceiling. president biden: i'm ready to work with the new republican house or republican congress to make progress for the people of america. >> we will not do any negotiating over the debt ceiling but broadly speaking at the start of this new congress we're reaching out to all the members through the office of leg affairs making sure that they, making sure that we have those connections with those new members as i just stated. >> reporter: white house allowing members of congress to work this out. the new house speaker is ready to sit down with the president to get spending cuts not to hit the debt ceiling. republicans and

neil: thank you, edward lawrence at the white house. you probably see if we could show again where we stand with this voting going on. now 20, which equals the number of those who rejected kevin mccarthy yesterday. the indications are that a good many of these votes are finding their way to the favored candidate byron donald's, the florida republican who when he stood up and announced his vote got a raucous applause, the fact of the matter is that large group that wanted to deny kevin mccarthy the speakership stayed as tight as a check and has grown or at the very least has not tinkered away here so that's a significant development. i don't know if this follows the categorical with support like this, they have nonsupport like that. some lies go way back, george santos had voted. 217 others, steve forbes is with me. the same kind of sense that it was a dollar short. i know much is made of the fact that look at us, 90% of the caucus. i get that. it is 218. i remember showing my age here. when george, gerald ford's forces, got more votes t

they want to fight those republicans because you is a you the facts from edward lawrence.re pretty bad. the memo instructs democrats to say this talking point. the house gop economic moves make inflation worse for tax rich tax cheats. increases the deficits, raises taxes on middle class families and cuts social security and medicare. republican senator john kennedy of louisiana, member of the judiciary, budget and appropriations committees. great to have you in "focus." first time i've seen you. happy new year. let's get started with what is myth and factual in what we're seeing coming out of the white house on this. >> two points. the united states congress will not vote to default on america's debt. in the past 25 years, our congress has had 12 opportunities to vote to default. congress has never done that. it never will nor should it. so everyone should take their meds and chill. .2. there are three things that most fair minded americans agree on. number one, there is something very wrong in our country. 70% of the american people think our country is headed in the wron

more on that and the president's priorities right now with edward lawrence at the white house. edward. >> reporter: 292 million to be exact. let's talk about budgets for a second. the president's budget is supposed to be submitted the first tuesday in february, that is next week. the president, white house, saying no, their budget will be submitted on march 9th. a month late, third year in a row. the head of committee for responsible federal budget that this affects the senate budget committee and so forth. of the listen. >> budget committee won't be able to get started on its own work in ernest until they see what is in the president's budget that can have a domino effect you miss the first deadline father down the road, more deadlines are missed. we end up way too often, none of parts of the budget being passed on time. >> reporter: that coleave to a government shut down. both sides pointing fingers president calling house speaker to submit his budget on eve of first face-to-face meeting this year. >> will you negotiate with mccarthy. >> president biden: show me his budget. s

edward lawrence is there, what we might expect to see. edward? >> reporter: yeah, overriding in this meeting with president joe biden here in mexico and canada is clean energy. that has been the overriding economic theme that is going on here. about 20 minutes ago president biden started his bilateral meeting with the prime minister of canada, justin trudeau. one of the goals for the president here to create a traching block that rivals the trading block growing between russia and china. the difference for president biden is this block will be more environmentally friendly. nsc spokesperson john kirby tells me climate change and economic growth go hand in hand. >> i don't think you can separate one from the other. i mean obviously you want to see economic cooperation and development particularly on the supply chain, particularly in the terms of clean energy technologies expand and grow, but you want to see if it will expand and grow, it has to expand and grow threw people and expand and grow through better environmental standards. >> reporter: th

edward lawrence at the white house with more. ing with the chinese vice premier will lead to more talking. we're exactly in the same position we were in 2018. the only difference is former president donald trump went on to impose tariffs that forced the chinese into a phase one trade deal. now since president biden took office the chinese ignored about every part of that deal and biden administration has not triggered the enforcement mechanism in the phase one trade deal. so it means we're back to where we were in 2018 before we had the agreement. yellen will visit with the man ho signs the phrase one deal. >> china wants to take our place. they want a pleasing image, overlooking rights violations, be good economic partners, slowly gradually don't have much awareness of it assume our position all over the world so they're the world leader and we're not. >> reporter: treasury secretary will go to meetings in several after from can countries armed with a pledge of the president $15 billion in two move way trade and investment deals

edward lawrence has more from the white house. what have you heard?> from the white house not much budging on their position but this doesn't have real effect on the average taxpayer just yet because the extraordinary measures put in place. it does start the clock ticking for congress. the real implication is for kids and kids' kids. the budget office says interest payments on the national debt could be the largest spending program in the next six years, more than defense and spending on education or climate change. the cbo says debt payments are expected to triple from $4 hundred billion in fiscal year 2022 to $1.2 trillion in 2032. like paying the minimum charge on the credit card. white house says no negotiating over spending. >> republicans in the house hopefully not all of them, are willing to say that if you do not do extreme things for balancing the budget, significant cuts to medicare and medicaid and social security. if you don't do our agenda we may not extend the debt limit. >> republicans not putting medicare, medicaid or social security o

is in the debt ceiling crisis, it's annoying edward lawrence is at the white house with more. >> rightow president joe biden house republicans are talking at each other not with each other the presidents position firm he will not negotiate on spending his early signed into law were spending he wants to do, the stalemate leaves the debt ceiling deadline looming treasury secretary jannah yelling says sometime in june will hit the ceiling because of the extraordinary measures you put in place, the president now budging. >> is a responsibility that they have a basic responsibility that congress has two deal with the debt ceiling we've been clear on this and president has been clear on this, it should not be used as a political weapon. >> the committee for responsible federal budget the economic watchdog says the debt ceiling should be raised but the amount of spending needs more scrutiny. >> by night into next year we will spend more on interservice either past debt then everything we spent at the federal level including education, child tax credits, child nutrition, you name it. that's ba

edward lawrence, thank you. trace. >> trace: struggling americans watching every penny. the white house is trying to paints a rosy picture. how much more the average family is spending now compared to just a year ago. our money panel breaks it all down. >> sandra: we will have a fascinating look at that. meanwhile, some of biden's fellow democrats going after him now over the classified documents and the growing scandal. could the investigation throw a wrench in biden's big plans, perhaps, for 2024? we'll ask byron york when he joins us live next. i'd like to thank our sponsor liberty mutual. they customize your car insurance, so you only pay for what you need. contestants ready? go! only pay for what you need. jingle: liberty. liberty. liberty. liberty. veteran homeowners, have you looked at the interest rates on your credit cards lately? get ready for a shock. the rate on credit cards is now over 22%. if you want to save hundreds of dollars every month, pay off the balances on your high-rate cards with a lower rate va home loan from newday usa and get the financial pea

edward lawrence at the white house. y because mitch mcconnell is going to kentucky with president biden. they're going to appear together. is that right? >> reporter: yeah, very interesting, they're going to appear today. d -- together. but mitch mcconnell will not be on air portion one, he will already be in kentucky for this. the president going there the to tout his infrastructure spending bill and the spending that he's coming through that, senator mitch mcconnell wanted to be there according to fox news because his folks are telling fox news, i should say, he wants to be there because $1.6 billion in federal funding that he has secured through the bipartisan infrastructure bill that he got for a specific bridge in kentucky that they are all going to be at. the white house pushing the fact that the president's spending policies have worked whether for climate change or inflation or his energy policies where the president has regular unleaded now jumping again for the eighth day in a row, 4 cents overnight on gas. the

edward lawrence at the white house with more. dent joe biden says the spending will invest in america. this latest spending he is talking about with republican senator mitch mcconnell on a major bridge connecting kentucky and ohio. the senator stressing his part getting $1.6 billion to fix the bridge. >> we all know these are partisan times. i always feel no matter who gets elected, once it is all over we should look for things we can agree on to try to do those. >> reporter: all of the $5.8 trillion spending signed by president joe biden so far part of the problem according to many economists. we're staring the possibility of stagflation in the united states with the federal reserve saying gdp growth last year and for 2023 will be just .5%. so the fed also says unemployment will rise. and when that happens you in inflation for the trifecta for stagflation. before the president went to kentucky weighed in on the republican search for a house speaker. it is important to hear this. listen. president biden: things are settling out no

elizabeth: edward lawrence, thank you so much. look who is here, the chairman of house budget.ar the balancing the white house budget extreme. have we fallen through the looking glass? are we on the other side of the mirror with what is going on? >> it is certainly more than just extreme. it is irresponsible and reckless to continue on our debt path which is completely unsustainable. 16 trillion over the next 10 years. 116 trillion over 30. half of the debt over the next ten years is interest alone. we'll be spending more on servicing the debt, that is interest payments then all of national defense in 10 years. so to, to simply raise the debt ceiling, to ask for a new line of credit for this president and the profligate spend democrats, it is absolutely unacceptable. we have to put fiscal reforms in place alongside of raising the debt limit. it has been done several times in the past so this is an action forcing opportunity to right the ship, put us on a sustainable path. elizabeth: aren't republicans demanding $130 billion in cuts? what could be cut? i thought house speaker, w

edward lawrence is at the white house. ress doesn't vote to raise the debt ceiling? reporter: well, right now, the u.s. government won't run out of money as of yet. the treasury department is taking extraordinary measures that can stretch out that money so the date is actually sometime in the summer when we will actually run out of money, but this is going to be the first real test for the new house speaker kevin mccarthy and the first real challenge for president joe biden from this first congress or this new congress in becoming speaker. mccarthy pledged to stop the seemingly unlimited spending president biden has enjoyed. here he is on "sunday morning futures", listen. >> if you look just in the last four years the democrats were in the majority. they increased discretionary spending by 30%, when republican s were in the majority for the eight years prior they didn't increase it by $1. reporter: so, yeah, there's no doom right away. again the money won't actually run out until possibly june at some point. mccarthy believ

edward lawrence you gave us a lot to dial with. thank you very much. en strategy, lyn alden herself. >> thanks. happy to be here. lauren: first thoughts on what edward reported. >> i think essentially the fed minutes show they see this business as usual. so the economy is slowing. there are maybe initial signs of recession. they mentioned the yield curve but they're not overly concerned. so they're still focused on tightening at a reduced pace. even though they identified that inflation is coming off of its highs middle of last year, there are no hurry to basically soften that they want to make sure it is tampered down. essentially we have to be prepared for ongoing liquidity withdraws from the market first half of this year. lauren: how do companies react to all of this? high every rates pinch the bottom lines no doubt? >> essentially, a lot of fixed-rate debt. basically the reason monetary policy takes a long time to trickle out in the economy, just because they raise rates right away, doesn't mean all debt refinances higher. quarter after quarter mor

edward lawrence is at the white house with more. report year-over-year. it actually shows inflation may have peaked. the overall number came down, but it came down mainly because energy prices fell as well as the prices of large ticket items like cars and appliances. they came down but that last point has some market watchers very worried that could indicate customers started holding off on big purchases, which could be a concern for spending going forward. the president taking a victory lap over inflation coming down to 6 1/2%. president biden: lowest unemployment rate in half a century. my first two years in office were the two strongest years for job growth on record. we created nearly 11 million jobs including 750,000 manufacturing jobs. >> reporter: let's fact check the president for a second the 3 1/2% unemployment rate tie as 50 year reached under past administration. the economy added back all the lost jobs in the pandemic and created openly 1.2 million jobs. the economy added back all of the manufacturing jobs lost during t

edward lawrence at the white house with the latest. rd. >> reporter: liz, white house press secretary karine jean-pierre says the president will not negotiate over the debt ceiling but house speaker kevin mccarthy wants to sit down with the president to talk about where spending cuts should come from so we don't reach the debt ceiling again. bottom line we're at a standoff. republican senator john kennedy said he didn't vote for all the spending doesn't agree with it, but we can't put the full faith of government credit on the line. >> if you have a party you have to pay the band. if you're going to borrow money, you have to pay it back. that's true as a moral principle and a principle of practicality. >> reporter: going forward he thinks the administration needs to stop spending so much money and thinks other republicans should not go along with it as they did with the bipartisan infrastructure bill and the chips act. the white house still digging in. >> there will not be any negotiations over the debt ceiling. we will not do that it i

edward lawrence is in mexico city with more. he is live. edward, what is going on?, i can tell you right now the president has had his bilateral meeting with prime minister of canada justin trudeau. today they had atry lateral meeting. right now president biden is speaking after the trilateral meeting. he is expected to take one question from reporter, each of the three leaders at that stage will take one question. there you have a live picture of the president talking next to him. next to him is the mexican president. next to time is the prime minister of canada. the leaders, they talked about migration with the economic message that the president pegs everything, any agreement on climate change. now, for example, when china grows its economic trade with russia, it is about the economy, not about climate. i asked nsc john kirby if the climate muddles the economic message. this is what he says. >> i would take the issue that it is muddled somehow doesn't go hand in hand. climate change is driving economic instability throughout the region, certainly throughout the w

let's go to edward lawrence in mexico sy with more on what they're doing. edward. >> reporter: exactly the president we have not seen publicly yet today and we won't see for a while. the first lady 30 minutes ago had an event about women empowerment with the first lady of mexico. president biden in four hours will meet with his mexican counterpart, the president of mexico. they will talk fentanyl that the president wants to focus on the supply chains to make the u.s., mexico, canada a block going forward. he conferred with advisors this morning according to national security advisor jake sullivan about what he heard also in el paso. it is unclear though what new moves will be made through the bilateral with the mexican president. the president biden seems according to jake sullivan seems to be on the same path he has been on. the president toured the border wall, talked to agents but sources tell fox news the el paso sector was cleaned up. the processing center president was visiting watt not process. president biden: i'm know u not processing every dauren b

edward lawrence live from the white house with what happens now. seems like you're doing every show. every time i look up you're on tv now. treasury secretary janet yellen has been sounding alarm what she is doing. she sent a letter to the leadership in congress about the debt ceiling situation, getting close to it. she says she will start on thursday extraordinary measures to make sure that government keeps room on the credit card. now those measures would allow the government to keep spending until sometime around mid-june. basically the treasury department would not make any new investments in the largest federal and postal worker health and retirement funds. the talk about the showdown has already started. >> if you look just in the last four years that democrats were in the majority they increased discretionary spend about i 30%. when republicans were in the majority for 8 years prior, they didn't increase it by one dollar. >> reporter: new house speaker is ready to sit down with the p to work out new spending cuts. the white house publicly le

one ever qualities i love edward lawrence as well, on the white house beat right now, the administration'spproach, that the infrastructure plan the reason, right, edward? >> reporter: exactly right. the president any minute is supposed to leave his delaware home, going to baltimore. he will tout a major bipartisan infrastructure bill in investment in a train tunnel under residential areas in baltimore. the current tunnel in place is 150 years old. only a single track goes through there. 30 miles-an-hour trains have to go through there. it take as bottleneck for people. after president biden says he is doing everything he can to lower gas prices yet there has been no change in energy policy from this president since he took office. >> the department of energy is working with refineries to bring capacity back online, swiftly and safely and the president will continue to do everything he can to keep lowering costs for the american families. >> reporter: some republicans though calling this lip service which americans see through. in fact a new nbc news poll shows 71% of people think the count

edward lawrence focusing how that is being balanced out for inflation news i don't know about that iselping the market that is the good thing about edward. he cuts through all the nonsense. edward, you're there at the white house. they have a lot to chew on, don't they? >> reporter: we'll have couple top picks. president biden did confirm a second set of documents was found near his corvette in his garage. he said it was a locked garage. he added this. president biden: they found a small number of classified documents in file cabinets at my home in my personal library. -- was immediately notified. >> reporter: the reason the president made the comments the first place, why he was there, because of the new cpi inflation report, showing overall inflation fell to 6.5%, still well above the 2% target, three times as much. a heart part of the reduction was caused by energy prices falling. when you look at the report, there are concerning trends people paying for rent, up 8.3% year-over-year. a significant increase especially when you add in food inflation. bread almost 16%. eggs up 60% yea

edward lawrence gets into details in a second. interesting popular bitcoin investments, ethereum, xrp a host of others are down now, they were down about double that. bitcoin, for example, was flirting with the 20,000-dollar a coin level, now just under $21,000. i guess there was relief it wasn't involving those guys. as soon as investors hear the government is coming in, a big announcement, a crackdown, it's a cryptocurrency thing. cryptocurrencies are popular, well-known like these and fear, now off their worst levels. edward lawrence understands this far better than i. he was monitoring this, what justices saying. edward tell us a little bit who they are going after here? >> reporter: bitzlato is what it is called. it's a hong kong-based exchange for cryptocurrency. what the department of justice is outlying they have taken a major partner off the dark web that facilitated that dark web transactions to go back and forth. they arrested anatoly lakatamov, a russian national resign shenzhen, china. he resides in miami. he goes bac

edward lawrence with that and more from the white house. edward? >> yeah, you said it.open mic and no push-back from republicans that are distracted by trying to select the next speaker of the house. the president made a pivot on the border. he's going to not only strengthen the border from what he calls a patch work situation that doesn't work. the president is going to visit the border down there. so he's been in office 716 days, 1,173 hours. 58 trips to delaware. this is his first trip to the border after more than 4.7 million people illegally crossed in to the united states. >> this is something that he wanted to see for himself. he wanted to assess enforcement operations and meade local officials that have been important partners in managing the historical number of migrants fleeing political oppression. >> the president using his free time from republicans scrutiny to honor many capitol police officers who held back rioters storming the capitol on january 6 two years ago. the president vaguely mentioned in this address republicans that he blames for the riots. lis

we do know from edward lawrence right now that they're taking measures because right now we are at thate to take those measures. edward has the latest from washington. >> reporter: right now republicans and president joe biden talking at each other, not with each other. the white house message is they're going to refuse to negotiate over anything having to do with spending. now, a senior gop aide tells me that a right now leadership is coming up with specific asks that heir going to present to -- they're going to present to the president regarding the debt ceiling. facts sill remain unchanged. the congressional budget office says the pace will make spending on debt will make it largest government program. taxpayers spent $400 billion in fiscal 2022, like paying the minimum on your credit card. the cbo says those payments will be $1.2 trillion in 2032. >> we are by next year going to be spending more on interest than everything we spend on children. including education, child tax credits, child knew tradition, you name it. nutrition. so that's backwards. we should be investing her in the

edward lawrence at the white house right now where they're talking about preparing for the unthinkableat least, maybe the unwantable. where does that stand, edward? >> reporter: neil, cue the jackhammer for this but the treasury secretary sent a second letter now today to leadership in congress she will implement those extraordinary measures. they will last through june 5th. we have the first date possibly we could actually reach the debt limit ceiling there. if the u.s. defaults the damage would be clear. it would be more expensive. credit rating would suffer. it would be more expensive to get mon in the future for the federal government. it could put at risk the u.s. is the reserve currency around the world. the argument, if the u.s. cannot pay its obligations why would the dollar be reserve currency. leaders say it will not come to that, but some republicans are taking a hard-line. >> we don't have a tax revenue problem. it is clear we have a spending problem. i can tell you one thing here in houston congressional district 38 i represent, my answer is hard no raising debt ceiling. i

liz: edward lawrence, thank you for that.g as well as it was originally hoped? because it is up three years from now for renewal. let's bring in ambassador ron kirk who served in president obama's cabinet for four years. he's here now with more insight on what we can expect after today's meeting concludes. ron kirk joins us now,ing first on fox business. well, what is your opinion? you know, you were a trade representative, you mow the ins and outs of these kinds of things. how would you assess the framework of usmca is currently working? >> well, there are underlying tensions -- and and, liz, thank you for having back on again. i think the changes that were made to what we then called behalf tata and then express now as the usmca largely were, i think, an effort to allow the trump administration to say, hey, we've struck a better deal. so it's at least kept this very important relationship going. but to be honest, there are underlying tensions. now, what we've heard from the leaders is what you'd hope to hear, focusing on th

elizabeth: edward lawrence thank you. welcome back to the show, congressman brian babbitt.r of the house security caucus. we had protesters greet president biden in tightly controlled visit to el paso questioned, the first as president to the border. i want your reaction to texas governor abbott debunking homeland security secretary mayorkas and the president here. watch this. >> governor abbott is not collaborating with the federal government on an issue that requires collaboration. >> the only reason why we have these people coming across the border like we do is because both homeland security secretary and the president are not enforcing current laws. they claim that republicans need to work with them. i have outlined exactly what they need to do as a starting point to begin to secure the border. so any suggestion by either secretary mayorkas or the president that republicans are not working with them is just flat-out false. >> [inaudible]. president biden: a lot of resources will get -- >> gave the president a letter from me to him outlining the chaos that his refusal t

joining he me right now is fox business' white house correspondent, edward lawrence. edward, your american airlines flight from mexico city to dallas, then connecting to washington is grounded. tell me what you've heard. >> reporter: yeah. so what we're hearing is that no flights internationally are leaving airports from anywhere going into the united states. we talked of to the pilot. we did get on the plane, we were sitting in our seats and ended up getting off the plane because -- for security reasons they wanted us in the airport. the pilot told he me all american flights internationally are not going anywhere. and they have no indication as to when that will change. i can tell you there's about 200 plus people in this airport waiting at the gate to get on the plane to go to mexico city but obviously we're going to be delayed. maria: you're going to be delayed. we don't know what the reason is. this is extrao extraordinary tu all flights in america have been grounded, this is the first time we've seen this since 9/11. have you got answer a reason from the airlines

edward lawrence at the white house this morning and, edward, what's the administration's plan to bringof gas? do they have anything in place? >> yeah, their plan is to keep on keeping on exactly what they're doing. for the past two years the president says he's been doing everything he can to bring gas prices down yet now it's congress that could force the president into expanding oil production on federal lands. the house passed a bill which among other things would require energy secretary to expand oil production if they tap the strategic petroleum reserve for a nonemergency. >> with this plan with the bill that just passed, we have got to refill the strategic petroleum reserves and down 40% as you said the lowest level literally since i've been alive, we got to have a plan to have energy independence in this country. under president trump, we were the largest lng exporter in the world and no reason we can't reverse some of biden's policies and be a net energy exporter. reporter: the strategic petroleum reserve as lowest level since 1983. the energy secretary defended the use of the

for a recorded interview with national archives about the mishandles of classified documents, edward lawrenceouse. reporter: this white house talks about transparency, but that is lip service when it comes to documents fox news learns that fbi went through the penn biden center in mid november. that does not appear on any of the timelines released from president's personal attorneys or the white house counsel office, sources of justice department confirm president biden's team was well aware and offered consents to go in. no search warrant needed this is second time fbi searched property biden team had gone through. members of senate en intelligence committee are irate. >> they belong to the intelligence agencies that authored them. they should be answering to us if they don't i think we'll have to begin to do some things we can do here in terms of authorizes signing off funding until they respond to us. reporter: others corn certained about who may have had access to the classified documents found. so far there have been no briefings for congress on the documents, members of intelligence com

you could feel more pain at pump, warnings of $4 a gallon gas by march, edward lawrence is live at white house with more. reporter: it is all part of inflation. president biden touting some of the spending at baltimore and pato mack -- tunnel. here is president biden listen. >> all studies show if you get from point a to point b by rail faster than you can by automobile, you take the rail, it will be a game changer for the environment, this is what we're doing across the country, not just her. here. reporter: tomorrow, he will be in new york talking about a rail tunnel under the hudson river, his tour is happening at same time as gas prices are creeping up. the strategic petroleum reserve at lowest level since 1983, aaa said regular gallon will cost 3.50 on average today that is 33 cents more than a month ago and up more than $1.11 since president biden took office. >> president trump filled up strategic oil reserve what the oil prices were low, that was great for the american people, joe biden emptied it, now we have to try to refill it at an all-time high. reporter: republicans is a th

edward lawrence at the white house, looks like groundhog day to me.h the latest. >> groundhog day and the jackhammer. treasury secretary janet yellen sent a second letter to the leadership in congress saying she will have to institute those extraordinary measures saying they will last through june 5th so now we have a date, republicans and democrats say they don't want to put the full faith of the federal government repaying its debt at risk, republicans are openly upset the treasury secretary waited 6 days before the deadline to send a letter of warning, the first letter. representative andrew barr says congress left taxpayers $30 trillion in debt, the president's inflation at 40 your highs adding that is why republicans and democrats must work together is not just avoid default but put washington on a spending diet. here is senator john kennedy. >> if you are going to have a party, you have to pay the band. if you are going to borrow money, you have to pay it back. that is true as a moral principle and the principle of practicality. >> reporter: he

stuart: edward lawrence at the white house. back to the markets.powerful and important guy on wall street. his name is ken fisher. forgive me for digressing but i remember you as the guy who did a tv commercial saying i would rather have needles stuck in my i than sell you an annuity. you did say that. i do remember. >> i don't remember because i'm mostly blind anyway but i said a lot of things about a lot of things. stuart: you have been saying you are seeing a roaring bull market this year. make your case. >> first, to see it, you have to see the 2022, almost anything you say about it, could be set almost perfectly the same way about 1966 or just slightly differ the, rate hike, explosive inflation out of nowhere, regional war, the most divisive air in us politics, you could go to recession expectations, anticipation of capitulation and a bear market that was the same magnitude, starting the same day in january, almost the same day in october the fourth quarter rally almost the same size, strong start to 1967 and in reality from all that, 1967 is

edward lawrence has some ideas at the white house. >> reporter: it was a real pivot by the president is going on in the house of representatives. at the white house officials are letting the president's word stands on what is going on inside the house of representatives. president biden says republicans need to get their act together. today, when he was making is that announcement for border security and enforcement, he is following the race but needed a little help at the end of this. >> are you monitoring the race? are you watching the race? >> president biden: with great -- how can i say it? >> attention. >> president biden: attention. >> reporter: the vice president helping him out. the president was more direct yesterday when he talked about the vote for republicans house speaker. white house officials shied away from interjecting. >> president biden: one, it is embarrassing for the country. literally, not making up another reality, we have a congress that can't function, it is just embarrassing for the greatest nation in the world. how can that be? we have had a lot of trouble

edward lawrence is on the phone for us. edward, you just landed in dallas?n eled. describe the experience -- the canceled. [laughter] >> reporter: frustrating, i can tell you. we boarded the plane in mexico city, they took the us off the plane, reboarded in mexico city, and that's when we learned my connecting flight was canceled out of dallas. had the wi-fi on the plane and spent 90 minutes trying to rebook. finally got through a chat rebooked on a plight to d.c. later on -- flight to d.c. later on tonight. i can tell you some of the workers i've talked with, i talked with the pilot on the plane, there's frustration there. the pilot said he's e never seen a ground stop or being held because of this kind of alert from the faa. he's seen some other kinds of ground stops, but not one. gate agents here as i was running by trying to figure out what gate we're in here in dallas, and the gate agents said rebook online, without me even asking a question. [laughter] i said it's been very busy, they laughed and said, yes. stuart: edward, thanks for sharing that with

edward lawrence has more on how they're planning for something that they see coming. edward?>> the united states almost maxed out on its credit card. so what is happening thursday, the secretary of treasury will institute extraordinary measures that will extend the life of the money that they have before they get to the dead ceiling till mid june. the treasury department will stop parting to government health and benefit funds. president biden said he will work with congress but not on the debt ceiling. >> i'm ready to work with a new republican house or any republican congress to make progress for the people of america. >> we will not be doing any negotiations over the debt ceiling. broadly speaking at the start of this new congress, we're reaching out to all the members through the office and making sure that we have those connections with those new members as i just stated. >> the markets are closed today but as we get closer to the june date, there might be some impact on the markets and a worry that the u.s. could default on debt for the first time in history. there will

gasoline 3.44 today, that is higher than it was last month, fox business white house correspondent edward lawrence presented jennifer granholm on this yesterday here is what she said. >> gas prices are now up 33 cents over past month -- >> the president took credit for the prices coming down, the strategic petroleum reserve as i mentioned is no longer releasing, does president get credit for the price of gas going up. >> it is, obviously, based on international climate events. maria: all right, climate events. lee: climate events republicans apparently to blame the bottom, i think that this white house this administration is really out of touch with american people, when they say, the economy is never been stronger, jobs all time low, inflation is actually getting better, that is not reality on the ground. there is -- something happened last couple months the american people starting to feel slightly better about economy we were down in 20% optimism now in 30s, a little bit better but still really, really bad, so, if this administration, is going to try to convince us that things are okay, they ar

it was better than 400 points and a lot of this gained a new lease on life with comments that edward lawrence james bullard, the st. louis fed president telling the wall street journal that the fed should keep rapidly raising interest rates until they get above 5%, referring to the overnight lending rate and federal funds, that sits in the range of 4%. what he seems to be saying is getting up to at least 5, higher than that and to put this in perspective a year ago we were at 0 on these key rates. the hiking didn't start until march so effectively we have quintupled if not quadrupled at the very least, rates from where they were a year ago and the impact is being felt. more after this. after advil. feeling better? on top of the worlddddd!!! before advil. advil targets pain at the source of inflammation. when pain comes for you, come back fast with advil liqui-gels. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the

fox business correspondent edward lawrence is live in washington with the details. how do you read this report? >> the unemployment rate ties the record low. labor participation rate in this, what the fed watches, it remains the same. a concern for the federal reserve. what the market is larking at, this report indicates the federal reserve will stay the course on smaller rate hikes this year and possibly two rate hikes this year. that's what the market is reacting to now. it will open just under 300 points today. the last time the economy created 223,000 jobs was december of 2020 in the pandemic. the president biden says that he is relying on his spending to boost the economy going forward. listen to this. >> president biden: now we need to focus on implementing some of the big laws we actually passed and so american people can feel the benefits of what we've done. the big laws we passed are. they are the law and they will happen but didn't take effect. >> many economists say the spending is pushing inflation. you still have inflation outpacing wages, 7.1%. average

edward lawrence fox business is crunching the numbers. hello, how will this go?se now. the white house being more vocal. we're hearing from the white house press secretary, not the president, about how the congress needs to deal with this issue. listen. >> we're not going to work our way around this or negotiate on this. this is the basic -- the basic duties of congress is to deal with this issue. let's not forget in the last administration they, democrats and republicans, were able to deal with the debt limit three times, three times. so this is something that needs to be done, that should be done, and we call on congress to act. >> the white house digging in. there will be no pre-conditions or negotiating over the debt ceiling. even moderate democrats starting to say spending might be a problem. here is senator joe manchin from switzerland. >> we have to work together. it is a bipartisan and always been that way as far as the debt ceiling. we have to realize we have a problem. we have a debt problem. we're $31.4 trillion of public debt right now. all we're sayi

edward lawrence is in mexico city for us. edward? the president is now going to meet with the leaders of mexico and canada, so surely, the border crisis will come up, won't it? reporter: it will, but depends on what the discussion will be. the president setting aside f million dollars for mexico and other south american countries to handle immigrants and protect those immigrants as they come towards u.s. border. now the president waking up today in mexico city. those meetings aren't until later on this afternoon where he is going to talk first with the president of mexico. yesterday, governor greg abbott from texas surprised president joe biden by hand delivering a scathing letter about his border policies. in part it says under your watch , by contrast, america's suffering the worst illegal immigration in the history of our country. your open border policies have emboldened the cartels who grew wealthy by trafficking deadly fentanyl and even human beings. >> the president caused the chaos at the border, and it just so happens he's t

fox business white house correspondent edward lawrence is in mexico city with more. edward, good morning. >> reporter: good morning, yeah, the president waking up here in mexico city today. his schedule a little bit later on this afternoon, he's going to meet with the president of mexico, that's the first thing on his calendar, 18 hours ago the president was at at the southern border in the united states. the el paso sector to be specific. he made 59 trips to delaware since becoming president, one now to the border after 4.7 million people crossed illegally. in a surprise move, texas as governor greg abbott hand delivered a letter to the president, it says in part under your watch america is suffering the worst illegal immigration in the history of our country. your open border policies emboldened the cartels who grow wealthy by trafficking deadly fentanyl, even human beings. the governor wanted to make his point count. >> the president who caused the chaos at the border needed to be here. he's about two years and $40 million too late. he needs to step up and take swi

edward lawrence is live at the white house. hi, edward. >> a mottest bump.ident waking up to a new congress. the vice president will preside over the senate opening up today and swear in the new members and current members that are returning. the president, the house still up in the air. he has to deal with a new majority in the house. spending spree might be over, economist steve moore told me that spending added to the inflation rate outpacing wages. >> the difference between how much wages went up for workers versus how much inflation went up for the price of things that we buy, the heritage foundation says it is a $4 thousand increase in costs above inflation. >> president biden signed at least 5.8 trillion in spending into law. we have inflation now at 7.1%. gas prices on the rise again. the last seven days. american's checks don't go as far. california, for example, 8.3 billion in stimulus checks has been sent out. another 1.2 billion will be going out this month. other states also sending those checks this month. that's not long-term help for american

edward lawrence is live at the white house. wait to learn all the details now since larry spoke a couple of hours ago. what's going on with the white house, the gas prices are going back up. the president said it wasn't going to happen. >> he did and said it was his policies taking credit when they came down. i asked the question of the white house press secretary and energy secretary and going back up, does he get credit for that as well? no, it was everything else. opec plus, climate change and weather events we've been dealing with here. the president said he is working on all fronts to try to bring gas prices back down. republicans are pointing out that's not necessarily the case. now the house passed a bill that would require the energy secretary to expand oil production if they tap the strategic petroleum reserve for a non-emergency event which is what happened with the gas prices. listen to supporters of that bill. >> with this plan, the bill that just passed we have got to refill the strategic petroleum reserves. they a