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Kudlow
Kudlow 07-19-2024
Kudlow 07-19-2024
With the $5 meal deal at McDonald's, you pick a McDouble or a McChicken, then get a small fry, a small drink, and a four-piece McNuggets. That's a lot of McDonald's for not a lot of money. Price and participation may vary for a limited time only. The IKEA Business Network is now open for small businesses and entrepreneurs. Join for free today to get access to Interior Design Services to help you make the most of your workspace, employee wellbeing benefits to help you and your people grow, and amazing discounts on travel, insurance, and IKEA purchases, deliveries, and more. Take your small business to the next level when you sign up for the IKEA Business Network for free today by searching IKEA Business Network. Hello everyone and welcome to a special edition of Cutlow. I'm David Asman in for Larry Cutlow. This is the end of a very historic week, not only in Milwaukee but all over the country. Donald Trump accepting the Republican Party's third nomination for president last night just days after the assassination attempt at Israeli in Pennsylvania. The former president took on a somber tone urging Americans to unite while vowing to reverse the biggest failures of the Biden administration. Coming up we're going to be talking about all of this with senior Trump campaigner advisor Alina Haba who spoke at the convention last night but first Aisha Hosni is live in Milwaukee with all the details from last night and what a night it was Aisha. It was a very exciting night that balloon drop was stunning. Good to see you David. But Democrats and Republicans alike across the country are trying to digest this more than 90 minutes speech the longest in convention history and apparently it started off with a very changed tune which is what the campaign said the president would do. Watch. As Americans we are bound together by a single fate and a shared destiny. We rise together or we fall apart. I am running to be president for all of America, not half of America because there is no victory in winning for half of America. Now there was also a very touching tribute to fallen fire chief Corey Compratori killed shielding his family from Trump's would-be assassin. Then former president the former president went off script over and over again. His remarks often resembling what you might hear at a rally. The late great Hannibal Lecter. He'd love to have you for dinner. Every week they get another subpoena from the Democrats crazy Nancy Pelosi the whole thing just boom boom boom. The Biden campaign today is blasting that speech as the same old Trump writing this for over 90 minutes. He focused on his own grievances with no plan to unite us and no plan to make life better for working people. The Trump team hitting back at the Democrats a disorder and disarray over who will actually accept the nomination at their own convention. I think that because of the strength of this convention because of the strength of president Trump's speech I think this effort by Democrats to run a political coup against Joe Biden probably accelerates. Now David security fencing is going up right now in Grand Rapids Michigan Trump supporters already waiting outside Van Andel Arena ahead of the first Trump Vance rally. By the way it is an indoor stadium and security will be just as tight as it was here in Milwaukee. Yeah I think he's going to go indoor for most of the rest of the campaign now. Aisha thank you very much. Appreciate it. Joining me now is Kevin Hasett former chair of the Council of Economic Advisers. Kevin great to see you. Thank you for being here. Donald Trump did make the economic story one of the hallmarks of his speech last night and he was of course vowing to end inflation. I just want to play a soundbite of that and get your reaction roll take. You're paying too much. We're going to reduce your taxes still further. We gave you the biggest one as I said we're going to give you more and it's going to lead to tremendous growth. We want growth in our country. That's what's going to pay off our debt. And next we will end the ridiculous and actually incredible waste of taxpayer dollars that is fueling the inflation crisis. Now we'll talk about inflation for a moment but that that claim that he made that enough growth could actually pay off the debt. Is that really going to be achievable? I will have to wait and see how much growth we get and how much we can reduce government spending but I can tell you that I spoke about inflation with the president a few weeks ago and he 100 percent understands that it's a problem of way too much demand because of all the government spending and way too little supply because right now Joe Biden is you know hectoring America's companies with heavy regulations and threatening them with higher taxes. And so he's going to cut taxes, deregulate, increase supply but he's also going to cut government spending a lot and reduce demand. And so I expect that that's going to have a big effect on inflation which would then reduce deficits with a lot of growth especially if it's potentially AI-powered growth something else that you know in his platform he explicitly addresses AI that is possible that we could grow out of this mess. Now even though I can't remember what his average inflation growth was during the Trump administration but it was close to or underneath. But point nine percent. Okay so it was it was under two percent I think the average for for Biden is over six percent so I mean it's it's it's just a ridiculous claim that that his policies are going to actually increase inflation or leave inflation is this but guess what they're making that claim here's a headline from CBS it says Trump says he will end inflation nightmare let's put that up on the on the screen uh economists say Trump Trumponomics could drive up prices now Kevin you're an economist can you explain how they make that bang shot that somehow Trump is going to cause an increase in inflation with his plans? You know they're all citing my old friend Mark Zandey's estimate that inflation would go up a lot under Trump but if you look every election cycle Mark who's you know run campaign finance events for Nancy Pelosi comes out with a study that's bad for Republicans and good for Democrats and and the fact is that president Trump's policies gave us high growth and low inflation below the two percent target for you know three years before covid covid's a different thing let's not try to put that into the data and and he did that with policies that he now wants to magnify a little bit going forward so I would expect higher growth and lower inflation the argument that they make for why inflation is going to happen is one that tariffs will raise prices and two that if you shut the border then this big increase in labor supply that we're getting from illegal immigrants who are taking all the jobs will uh you know go away and therefore wages will go up and that'll cause inflation but they're legally they're pointing to illegal immigrants mostly and they think that's the biggest difference. Well and also on tariffs did tariffs drive up inflation during the Trump administration? No you know the trade weighted tariff went from about two something percent to fourteen percent and inflation stayed in the ones and and the reason is that if you put a tariff on something then you can buy it from somebody else and the second best producer could be charged at almost the same price and that's why inflation didn't kick up in the first term and I wouldn't expect it to in the next term either. And meanwhile you hear of economic plans by the Democratic nominee or maybe not but but no matter who the nominee is you know the how basically the same economic plans we we talked about this before but a five percent federal rent control program putting price controls on on rents on a federal level has that ever been done before? The fact that they're proposing price controls means that they're surrendered against inflation. Maybe the Fed can get the job done even with the Democrats runaway spending but it really is astonishing that they're proposing rent controls and price controls because that means that they give up they don't understand where inflation comes from but we've been talking about it you and I David for a long time it comes from runaway government spending and an attack on supply it's something we've been talking about ever since Joe Biden took office and it's very very easy to fix and if you look at the the Trump platform which has 20 different points that are both you know addressing national security the border and the economy then he's got a really solid plan to reduce inflation and increase growth in real income. Kevin you know the great irony of ironies is what they're proposing is the Nixon policy the Nixon policy of price controls and relying on an easy Fed those that's a combination they're going for the Nixon plan the Democrats I mean it's crazy. It is but but the good news is that Jay Powell isn't nearly as crazy as the Fed back then and so that the Fed has lifted interest rates and and moved inflation in the right direction and and so I think that the price controls probably in the beginning wouldn't have any effect because the Fed has done such a good job fighting inflation but on the other hand they've slowed the economy to a crawl. They have and that's a conversation for another day. Kevin good to see in my friend thank you very much. Coming up more on President Trump's campaign and what happened last night we're going to be talking with senior Trump campaign advisor Alina Haba who spoke at the convention she joins us next. Salt Lake City, Utah. They are hoping when they build here it's going to be permanent but the Great Basin was no pioneers first choice. It's just desert the Salt Lake Valley was the last place on the planet that a lot of these people thought they wanted to be and they came here and they said what do we get ourselves into? There is nothing here there is no train there is no seaport they were tough people they had to be. The first Mormons to arrive built a meeting place out of tree boughs they called it a Bowery. Boughries were just a bunch of branches piled on top of a wooden framework. It was really rough it was meant to be temporary but it just to give them shelter someplace to get out of the elements to have meetings. If the wind is blowing too hard you're canceling church if it is snowing you're canceling church. So Brigham Young built a more permanent tabernacle. The old tabernacle was important because it was sort of a test case for the present tabernacle and it had a peaked roof but they experimented with plaster ceiling that was curved like a barrel vault. The pulpit was on the long side of the building but if you were on the end it was hard to hear. Acoustics were everything to these people. Because the church believes in prophets believes in a revelation you need to be able to hear what he says. So Young moved his pulpit to the end of the hall and built a rounded wall behind it. They were very much making it up as they went they they really didn't know how acoustics worked. Brigham Young designed curved walls in his tabernacle so his voice would reflect out but he got too much of a good thing. They discovered very quickly that there was a very long echo that made it difficult for people to understand whoever was at the pulpit. There's too much noise. If there's a crying baby the entire meeting is ruined. But the Mormon pioneers were not about to give up. In 1869 they added this balcony and discovered that it made a big difference in reducing the echo. But to truly stop the echo off the pine wood they brought in pine boughs. They have Christmas trees basically dropped from the ceiling of the tabernacle and that is finally what deadens the noise of the building enough so that you can hear what goes on inside. After years of planning, struggle and improvisation the Great Salt Lake Tabernacle was finally ready for the world and so was its heavenly organ. This is one of the great organs on the planet and I pinch myself every time I come in and play it. This building it's jaw dropping. When I go in there and I hear that organ play you feel it almost in your bones. It just shakes you. Fox here is all over the world including Peru on telephonica. Keep it here. Wherever you are, whenever you want it, Fox News Digital is the world according to Fox. The top headlines, other sites won't touch. Unmatched coverage, you won't get anywhere else. And the stories that keep America clicking. No one does it like Fox News dot com. Plus, download the Fox News app to get breaking news, alerts and all your favorite shows on the go. And if you can't watch, listen. The Willcame podcast on Fox News podcast. I'm Brett there. I'm Dana Perrino and this is the Fox News rundown. Fox News Digital, the world according to Fox. And now fresh off the convention floor itself is Alina Hava, senior Trump campaign advisor and Trump attorney. By the way, the senior Trump campaign advisor I want to talk about in just a second. But first, I just want to talk about the convention itself. And I say fresh from the convention. You arrived at what about 4 a.m. this morning? Yes, the president and his team and beautiful First Lady. We arrived at 4.30 this morning in Bedminster, New Jersey. And I think I was on TV this 7.30 this morning. So we're fresh is not the word, but I'm fighting. By the way, did the president sleep at all getting in at 4 a.m.? I'm sure I'm sure he did, but he was out and about again with his team today and and working as usual. But he really is amazing. It is and we're going to talk about him. But I want to talk about what happened at the convention itself because it had so much energy. There's so much course coming right off of the assassination attempt that that unified the party and the whole nation really like nothing has before, except when that sort of thing does happen. But even Democrats are seeing that there is a unity among Republicans now that they envy Van Jones. Big Democrat was talking about that this morning. I'm going to play that sound by get your reaction. Roll it. This thing is like this. And the last time I was in a commission that felt like this was Obama 2008. There's something happening. There is something happening. Can you describe it? Yes, it's called effectively like a reawakening of America. We miss our old America. I don't think anybody recognizes this version of our country. I don't care what your politics were in 2020. I can tell you that there is a change now and the change and the energy that I felt in that room for the last literally since Sunday. Every day just got bigger and bigger. And the more people spoke and the more stories they heard about what America looks like now and what it will look like if and when we get Donald Trump back into office was quite emotional. And it really was an energy that even Van could not deny. I'll tell you that much. Well, the president talked about it. I've got a brief sound bite from him talking about the energy last night. Roll that tape. With great humility, I am asking you to be excited about the future of our country. Be excited. Be excited. But the excitement frankly was there in large part. He brings excitement into the room. But there's a certain depth. And again, I think it relates to the assassination attempt. The depth of feeling is stronger. Not only in the party itself, but in him. And we saw that in his tone, which was subdued. It wasn't morose. It wasn't sad, but it was it was there was something deep about it. Have you noticed that change in him? Yeah. Yeah. I think he's incredibly not that he wasn't before, but he's just more grateful now than ever. I think he realizes every day on this earth is a gift. I think a lot of Americans do, frankly, because the idea that somebody who is protected, somebody who is supposed to be have the utmost protection, whose leading candidate in a political party could be assassinated in this day and age is an incredibly scary thought. I think that most Americans just thought that was something for the history books. But then when it actually happened in 2024 or in front of our eyes, in front of an audience like that, again, that's just a choice that Americans make and say, we're not going to do this. We're not going to turn into this. So yes, I think he is emotionally obviously more connected to every day on this earth. I think that anybody in his situation would be. And I think that Americans, frankly, are realizing how important every day is here and the choices we make and who leads our country. And you know, he talked a lot before the assassination attempt of the fact that, you know, if they were coming after me, they'd be coming after you. He literally took a bullet for for for the team for not just the team of Republicans, but for the country itself. You spoke to that specifically. You turned that, that phrase from a metaphor into reality. Roll that tape. So let us not forget that President Trump did not just take a bullet in Butler, Pennsylvania. He has and will continue to take them for each and every one of us. I think Americans, even those Americans who weren't planning on voting for Donald Trump, saw that happen and his reaction to being shot so quickly trying to show the crowd that he was okay and that he was still strong and in spirit. I think a lot of Americans might have been turned to Trump's side by by what happened on Saturday. No. A hundred percent. How can you test somebody's strength other than to take a bullet while speaking as a representative of more than half this country and then get up, fight. And not only that, Sunday, David, he didn't even change his flight plans. I flew out with him on Sunday. I was expecting a delay. I was expecting something, a change, not one minute change to our schedule. And he was so dedicated, so resilient. And how can you not get behind a candidate like that? I mean, this speaks to a human level. This is not a political level. It's humanization. Well, and you know, the Hillary Clinton brought up that 4 a.m. phone call that President sometimes receive and whether or not they'd be able to deal with that, whoever was running. This is so much beyond a 4 a.m. phone call. I mean, this is take, he took a bullet, he immediately responded in a way that would calm the crowd by his reaction to it. And then as you say, he kept his schedule. I mean, that shows a certain readiness in the spite of whatever is coming at you and you don't know. And then you think of President Biden, you know, God love him. I hope he's okay. But the bottom line is you think of his lack of competence. And yet he has that job, how much more a man who has full competence could do, particularly if it's super confidence of Donald Trump. Well, the truth is he's not okay. And I think America knows he's not okay. And it's okay to say that because we have a responsibility to Americans that voted for him. And those that didn't, he is the sitting president. And frankly, that is a massive, massive responsibility. He is the sole executive branch member. So if he cannot be up past eight, but we have a candidate who takes a bullet and fights and then goes on his plans as scheduled, walks down the stairs with no issue after being shot in the head. It's amazing. I mean, what else do we need to see? It is amazing. You know, you talked about law fair. We have a sound bite from your speech, but I'm not going to use it because we're running out of time. But you did talk about law fair. And I'm just wondering, as you see these cases, just fall apart for many different reasons. Either they were the construction of the cases was so poor, the behavior of the judge was so poor, the behavior of the prosecutor was that they are all literally all falling apart. Did you expect that to happen? Are you surprised that? And is the president? I think we knew that they were shams from the beginning. I know I've been saying it for years. I've been doing this with him for almost three years. And I can tell you that I knew from the indictments, they were flawed constitutionally. They were flawed. The appointments of Jack Smith, the appointments of these DAs, the funneling of money from radical left people to DAs and AGs is un-American. I've been saying it. And I know I'm a bit of a talking head. But at the same time, what I say is a fact. And I know that until it's proven, which it now is, and the American people are seeing with time, I've always said be patient. They will fall like dominoes. But the judicial system takes a time. It takes time. It does, especially when you have some corruption, frankly, and political bias in the courtrooms. And that is just unacceptable. But yes, they are falling apart. They should frankly all be dismissed. By the way, your new role as senior campaign advisors, is that going to pull away from your role as advising him on legal matters? No, no, I'm still his attorney. I think the reality is that I want it. You know, I have a voice that I'm so proud to use. And while we're nearing towards the end of the campaign, it was just a great decision. And I'd spoken to him and he had said, you know, get out there and speak to things bigger than just legal. And I'm so honored, honestly, I feel it's such a gift to be part of this campaign team and to be behind president. So he's getting two for the price of one, essentially. He's another great deal maker. Yeah, what a good deal maker. I just have to ask one final question. Art of the deal. Art of the deal. It is part of the news cycle that he's going to his next event is going to be inside. Is that going to be his campaign advisory? Do you know anything? Are he is he only going to be doing inside events from now on? I would never speak to the president's security and the measures that they're taking. My priority as in every American is to keep both those candidates safe. He is speaking inside this weekend. But I will tell you that President Trump is excited to get out to a rally. Imagine being shot a week ago and getting right back out in front of crowds. You know, there is, I'm sure some trauma to that. And he just is showing the most strength I have ever seen in any individual. So I know he's looking forward to going to Michigan. Okay. Well, we are going to be talking about the what role the government played in in protecting him or not coming up in a next segment. So we'll we'll get into that in more depth. But Alina, we wish you the very best. Stay safe on the campaign trail. Thank you so much for being here. Appreciate it. Thank you. Coming up, we are going to talk to Paul Morro next who is now at the site of the assassination attempt on President Trump. He's going to give us the very latest on the failures of the Secret Service. Republicans coming together, Democrats falling apart as the presidential election intensifies Fox Business as the impact on the markets and potential next moves for both parties. Get musty coverage on Fox Business invested in you. Woody Guthrie wrote, "Roll on Columbia to celebrate the Great Columbia River." But as it twisted its way through the Pacific Northwest, the Columbia needed little help to get the water where we needed it most. The Grand Coulee Dam used more concrete than any construction project in history. But it still wasn't enough. A decision had to be made. Do we go with a lower dam or a high dam? A 290 foot dam would never generate enough electricity to pay for itself. Chief engineer Frank Banks realized he needed to build the dam much higher. A high dam would create more electricity, which would mean more revenue. But more than that, a high dam would produce enough power to irrigate the high desert. In a higher dam, the water falls further, spinning the turbines faster. This would create enough power to sell and to pump up into the Grand Coulee. From there, it could flow throughout the region. That was Rufus Wood's real dream. But President Roosevelt only agreed to pay for a 290 foot dam. So once again, the newspaper publisher rolled up his sleeves. When Achie Daily World covered the construction, sometimes almost on a daily basis. The public wanted to know, "Well, how are they doing? How's it moving?" And so he would take that and put it into words and publish it so people could read it and understand that, yes, we have to keep the momentum going with the tax money. His campaign paid off. Congress agreed to pony up for a 550 foot dam. Wood's got the funding for Banks to finish the job right. Hey, where does this fun get? It's like yours over here. I'm your son. Hey, Mia. Hey, mom. You did so good. Thank you. Tomorrow will be our, what we call our Miamu Funday. So it's based on the Miamu Fund, a few ND, and we just hacked a little AY at the end. So our Funday weekend, and it is just to bring in as many of our, what we call our Miamu families, families that we have helped economically, that we have helped spiritually, that we have helped emotionally just get through the day-to-day life with raising a cleft child. Yeah, I must got it. But it's looking pretty good. So we have four children, and Mia is the baby. So 19 years ago, she was born with a cleft lip and palate, which is an opening her hole in the roof of her mouth and her upper lip. We found out at 31 weeks gestation, and we didn't know anything about what that meant. We thought it was a one and done surgery, but Mia has had 14 surgeries over the last 19 years, and she has suffered immense pain, both physically and emotionally. So that's hard when you just see your child being rolled away, and you have zero control over anything behind those double doors. And that happened 14 times for us, which is why the Miamu families are so important to each other. Having that shared connection through such difficult times is what helps us pull each other through. Do y'all need some help? Think we got it. Okay. Okay. We started this charity almost 10 years ago to help families just like us. And now last year, Mia has taken over, taken the reins herself, and it's just been amazing to see. I think it's going to be fantastic. I mean, I don't know. Right now, I'm overwhelmed with everything that she's done. I haven't really done anything. That's awesome. I don't know. Just seeing her not just take charge, but her whole heart into it. I mean, it's beautiful. It is beautiful. It's beautiful. Looking good, guys. I know. Y'all did a great job. I love it. I love it. [Music] Investing for the future. How would Trump's nomination impact your wallet? Get inside on what the buy, sell, and why diversifying your portfolio may need a second thought on the next Barron's Roundtable. Brought to you by GlobalX, Beyond Ordinary ETS. Republican lawmakers are demanding answers from Secret Service Director Kimberly Cheetoh over security failures to prevent the assassination attempt on Donald Trump's life at the rally last week. Fox News senior congressional correspondent Chad Pergram live from Capitol Hill with all the details on this. Chad. David, good afternoon. Secret Service Director Kimberly Cheetoh confirmed she will testify at the House Oversight Committee hearing next week. This could be a blockbuster event, perhaps one of the most significant congressional hearings in years. I want to know where the breakdown of communications occurred. You know, look, we know that three hours beforehand, he was flagged for trying to bring in a rangefinder. An hour before he was demonstrating strange behavior, enough that the crowd was reporting him. Republican Missouri Senator Josh Hawley says his office is hearing from whistleblowers who attended the rally. They believe authorities failed to enforce a buffer zone around the podium, and there were not enough personnel to secure the event. Cheetoh may not be able to redeem herself with lawmakers. We have a good American shot to death at this rally, others in critical condition, and no one will take any responsibility. I mean, these people ought to be gone, absolutely the director ought to be gone. The whole top echelon ought to be gone. But getting Cheetoh to appear is an important first step. Some lawmakers feared she might ghost the committee. They have a mountain of questions. I got serious reservations about everything that actually happened there. This is a security 101, and none of it was followed. The record line of sight to your principal, and you don't protect your principal when there's a suspect at large that you haven't accounted for. There's all kinds of breakdowns here. Now, lawmakers believe the attendance of Cheetoh can help quashed conspiracy theories about what happened. The hearing Monday is the first of at least three hearings on the shooting next week. David Chad, program. Thank you for that. Appreciate it. Well, for more on this, let's bring in Paul Morrow, formerly NYPD inspector in Fox News contributor, and he is on site at the site of that rally in Pennsylvania. Paul, thank you so much for this. I appreciate it. This information from Josh Hawley is extraordinary. If true, it comes from a whistleblower. We don't know if whistleblower was with Secret Service or DHS or wherever, but I just want to to read to you the post, the ex post that he put about it. He said, "Whistleblowers, tell me that most and the emphasized most of Trump's security detail, working the event last Saturday, were not even Secret Service. DHS assigned unprepared and inexperienced personnel, unprepared and inexperienced personnel for a former president who's running for president really, as as Larry would say, Paul. No, you're absolutely right. Now, that somewhat corroborates some information I had gotten from a source. I didn't hear that it was mostly DHS, but I heard that there were a lot of DHS there. It may be a distinction without a difference, but it goes to the fact that this thing really does seem to have been very badly organized. There were, by my count, at least eight agencies represented at this. That's how short-handed the service appears to have been. There were, from what I can glean from the numbers I've seen approximately about 60 security personnel there, maybe slightly more, but the attendees numbered over 20,000, and it may even have been more than that. You had at least 240 cases of heat exhaustion in the crowd. You had a number of people hospitalized because of the heat. Everybody around this area wanted to go to the event, turned up for it, and the security personnel just weren't ready for it. You know, something, another problem that the senators who've been looking into this half, they can't get hold of the pre-Rally operations plan. Without that, you can't figure out why there was this communication failure, abject failure, to get information about this suspicious character that they had almost an hour before the event began. I mean, as soon as that information got out there, they should not have allowed Donald Trump on that stage. Absolutely. And, you know, you go right to the issue I've been saying from the beginning, you've got to get the ops plan because that's the bible of the event that's going to let you know who was responsible for what. It's going to bring a lot of clarity. And my understanding is not only do the media not have it, but the senators and congresspeople who've been asking for it have not gotten it either. And, you know, this is when the conspiracy theories start to grow. They grow in the dark, like mushrooms, you're starting to see the outlandish stuff online. And this is how you put it out by being forthright, transparency, right? Sunlight is the best disinfected. And what happens now is that even those like me who are inclined to give the security services, some benefitted it out, including the feds most of the time, you got to say to yourself, where are the regular press briefings? Where are the updates? The service has to point right now, has still not given a press briefing. They have not come out and face the crowd, including the night of the event. They weren't at the press briefing we got from the FBI and Pennsylvania State. They hung up on the senators cover up. The senators were in a phone call with her. They were trying to get information. It turns out, by the way, she was where the senators were in Milwaukee and they cornered her. I mean, she was running away, honestly, not giving the operations plan, running away from senators, literally running away from, it looks like there's a cover up. This boy does it. As of today, you know, we were getting some information on the ground here. I have visited almost every one of the police agencies that were involved and I was getting some purchase. I was getting some information. Middle of the day today, some order descended from on high uniformly. I was told we can't speak FBI shut us down. I was told that today, so and I could also add the fact that, you know, when it's often overlooked here, in the middle of this week, the middle of the RNC, as of Wednesday, Director Cheetel was scheduled to speak in Aspen at a security conference. Now, this is a national security event, the Republican National Convention. There aren't many. And what is she doing in the Aspen mountains when one of these events, which only occurs every four years on goal? Unbelievable. Unbelievable. There's also a thing about the three encrypted overseas accounts that the shooter had. I don't know if we're getting to bottom of that. Nobody seems to know. And how did a 20-year-old find the best location for a headshot, for excuse me, for using that phrase, but for a headshot for the president when the social, when the SS itself couldn't find that position. I mean, all of it just doesn't add up. And the way they're running away from the truth right now certainly looks like a cover-up. We'll wait and see. But Paul, I'm glad you're on the case. You're the best qualified investigator. Thank you for being with us today. Appreciate it. Thank you, David. Turning now to the Biden mess, several top Democrats say mounting pressure could sway Biden to drop out of the race soon. But Biden's campaign says he is not dropping out. So what's really going on? Fox News is Jackie Heinrich is live from the White House with the latest on this story. Jackie. Well, David, there's been a lot of hasty work on the phones in the past couple hours. The vice president was addressing a network of major donors, according to the New York Times, to talk about urgent emerging needs. And just before that call, the campaign held an all-staff call. We're waiting for word out of that after a key California Democrat joined the calls for the president to withdraw from the race. That was Zolafran. She cited dismal polls showing that Biden staying in would also take down Democratic majorities in the House and the Senate. And her letter was understood to be a message from Nancy Pelosi, even appearing to allude to a call that Biden had with the former House Speaker where they clashed over his chances. Lofgren wrote to Biden, as I'm aware that you've been provided data indicating that in all likelihood you will lose the race for president, I will not go through it again. Lofgren denied Pelosi's involvement in a TV interview last hour, but indicated that Pelosi did get a heads up. Senator Chris Coons, Biden's campaign co-chair also publicly backpedaled after indicating this morning that the president's decision to stay in the race might not be final. But it might be hard to put this genie back in the bottle, especially as the campaign is shooting down reports that even members of the president's own family have begun talking about what a potential exit from the race would look like. They've been telling reporters they just have bad sources and insisting that as soon as he tests negative for COVID, he's going to be back on the campaign trail, David. Appreciate it. For more on all this, let's bring in Mark Simone, WOR radio show host Alex Marlow, editor-in-chief of Breitbart News, and co-author of the Breitbart Business Digest, John and John Carney, Breitbart Economics and Finance Editor. We got Breitbart well connected on this show, also co-author of the Breitbart Business Digest. Gentlemen, good to see you all. Thanks, what I love about what's happening with the Democrats right now is it is so anti-democratic. I mean, we had this primary system where millions of people voted for Joe Biden. We have delegates who've committed themselves to voting that way in the convention coming up in just a month. They want to ignore it. Instead, there's this little elite of a few handful of people who are trying to decide whether or not Biden's going to be in or out. It is so anti-democratic, and that's exactly what they've been charging the Republicans with. The Democrats to test democracy. I mean, think about what they did in 2016, where they rigged their primary for Hillary Clinton, and then they rigged their primary in 2024 for Joe Biden. And now they're not happy with Joe Biden all of a sudden. So they may have to rig the convention so that Joe Biden isn't the nominee. And if you're a Democrat voter, you must be sitting here going, okay, come on. You guys spent nothing but talk of democracy for the last four years. And again, we're going to do this again, we subvert the voter base. All of the voters have already cast their ballots. They voted for Joe Biden. So what are they going to do? They're going to shuffle them off. So then what happens? It goes to an open convention. You might have someone that people have never even heard of on the Democrat ticket all of a sudden. These are the champions of democracy completely absurd and enjoyable for me. Yeah, I have to admit it to sit back and watch the misery as they keep colliding with each other and colliding with their own ideals and colliding with what they are charging the Trump administration with is just extraordinary. And now that mark the thing is, is that the juxtaposition with that confusion and that chaos in the Democratic Party right now with the solidification of the Republican Party at the convention is just enormous. The New York Post, by the way, also talked about this in particular in Donald Trump's attitude during his speech last night. The piece, I think we can put that full screen up of the page, a new Don, making a reference to the phrase, a new Don DAWN. But with a new Donald Trump having gone through that horrible event on Saturday, a new Republican Party unified around him. And frankly, a lot of independents coming on his side, you have to wonder where the Democrats go from here. Well, I got to be honest, if they can figure their way out of this mess, they probably deserve to win. They'll never get out of this mess. Biden has to go, if somebody wrote me a letter saying you stink it off the air, I wouldn't take it seriously. But if every major figure in broadcasting came to me and told me I got to get off the air, you got to take that seriously. And if he does step down, you're going to see total chaos. You got vultures like Hillary Clinton and Gretchen Whitmere and Pete Buttigieg are going to be circling. It's going to be the worst in fighting ever. That alone will destroy them. And John, about the only thing that they can think of doing is still pointing their finger at Donald Trump and saying, well, he's going to be worse. We talked earlier about economic, his economic plan that the media is trying to convince people that inflation will be worse under Donald Trump, even though it never got above 2% when he was president first time. But Donald Trump came out and appealed directly to the American people who are watching in hordes what was happening at the convention. And he spoke specifically of the failures of the Biden administration on trade policy, on their dealings with Iran. I just want to play that clip and get your reaction. Roll it. Iran was broke dealing with Trump. I told China and other countries, if you buy from Iran, we will not let you do any business in this country. And we will put tariffs on every product you do send in of 100% or more. And they said to me, well, I think that's about it. They weren't going to buy any oil. And they were ready to make a deal. And John, we can now see. We can say, OK, we've had four years. We saw what Trump said last night was actually what happened. Iran ran out of money. They couldn't afford spending money on Hamas or all the other terrorists. China was in a mess, although we still had trade with China. So people can compare the reality of economics and foreign policy under Trump or that under Biden. Look at one of the things that just happened in the stock market recently. We have seen small caps outperform everything else. The Russell 2000 is through the roof. Why is this? It's because people think Donald Trump is going to be elected and that his policies will really help. Instead of just helping the big business, tech has done really well under Biden, big tech. People talk about the Magnificent Seven. But now it's the small caps rising because they know Donald Trump's policies will be very good for a much broader section of the American economy rather than the concentrated benefits that Joe Biden has delivered. And Alex, in a month, we get a more juxtaposition that people will be able to see what the Democratic Convention looks like compared to the Republicans. Well, the Republicans well ordered not only was it serious and had a had a deep tone to it, but it also had a lot of fun going on there. It's going to be chaos inside the Democratic Convention in Chicago, not only inside, but probably out on the streets as well. Yeah, you beat me to the punch on that one and might I say brilliant points by my friend John Carney. Mark's points were good too, but John's in particular, just outstanding. Yeah, but it's going to be a total mess. Can you imagine if they don't anoint Kamala Harris? What's going to go on with all those people who want to get in there and get their swing at Donald Trump? I mean, it's going to be so divided, so chaotic, such a mess. And I will tell you, I just want to sit there, Breitbart and live blog, the whole thing, every last detail of it because it's going to be the time of our lives. And Mark, of course, as I mentioned, then you have what's going to happen outside the Chicago Convention, just like in 1968 when the radicals took over the streets. Of course, then you had a conservative mayor of Chicago who knocks some heads together, but Americans are probably going to see that happen and that play out as well. We're going to show it. Maybe the other networks won't. We will show it on Fox Business and Fox News. Yeah, you know, you compared in 1968, you had student protests taking over university buildings, you had assassination, you had everything, everything is repeating from 1968. And all that did was push the independent voters to Nixon. They thought that was the law and order guy, that was the guy that would get rid of the chaos. You know, even if they get a candidate, even if they straighten out the ticket, they'll never get over the fact that they lied to voters for three years. They'll never be able to explain why they lied for so long about the condition of Joe Biden. Yes, yes. And the bottom line is it wasn't just the Democrats. It was the their echo chamber in the media that was doing the same. So either they change their tune or they're going to continue to shrink into total insignificance. Gentlemen, we've got to leave it there. Thank you very much. Mark Simone, Alex Marlow, John Carney. Good to see you all. Thank you very much. Coming up, Biden's student loan bailout was blocked again by a federal appeals court. But Biden and BP Harris apparently don't care. Well, Kansas, Kansas Attorney General Chris Colbeck does care and he's going to join us to tell us why when Cutlow continues. Maria Barteremos Wall Street, I'll identify the policies that move markets so you can be prepared for the week ahead. Fridays and seven on Fox Business. So when a fire comes in, you can get logs and needles at the base of the tree, those burn and they create an opening into the center of the tree and future fires then expand that opening. And so you can end up with a tree this large that's actually completely hollow inside and is still alive and totally fine and can live that way for another 500 800 years. The 2020 blaze in the park, the castle fire, is estimated to be the worst since the late 1200s. Scientists know this because of the tree rings and char marks. So now with the suppression of fire for so long combined with the drought, now we have a situation where fire burns so intensely, it actually kills the sequoires. Park officials want to increase controlled or prescription burns and mechanical thinning of some of the groves. They say the forest is too dense and worry about future infernos and the destruction they may cause. These trees need fire, but it needs to be a small healthy fire. The castle fire cost over 100 million dollars to fight. Some trees are actually still smoldering a year later and the ecosystem here is changed because of the violent and vast scorch. We love these trees. We've protected almost all of them. We spent a century building parks, visiting them, caring for them and now they're burning up in high severity fire, even though they're one of the most fire adapted species on Earth. So this is really a call to action for us as managers and for all of us as people who love nature to make a change. In Sequoia National Park, Robert Ray, Fox Weather. Danny, we were just talking where you grew up, how you got into racing. I think we all found the answer pretty fascinating. Yes, we did. That you went to a race when you were five and now look at you. I did. I was five years old. I went to a race in Richmond, Virginia and not just the minute the cars came around and I smelled the tires and fuel, it was over for me. As a kid, all I want to do is be out there competing at 200 miles an hour. And now you're not just competing at 200 miles an hour. You're winning at 200 miles an hour. I mean, we watch a lot of NASCAR in our house. You're always at the front. What is it about, you know, your equipment, your capabilities that has you leading the pack most off? Well, I mean, we always like to give credit to our team, which I should and Joe Gibbs Racing and FedEx have took me on 18 years ago. And I never thought that we'd have that opportunity to win 48 races like we won. But just, you know, it just takes a great team effort. I love working on my craft. I'm just one of those people that love to, you know, the grind of it, you know, figuring out how to get better, find the gray areas in which I can find speed. And that process is what I really love about it. You know, the future of NASCAR are those little five year old kids, six year old, eight year old kids who come up, come to events like this, see it and go, this is what I want to be. I see Pete's kids who love NASCAR. And I think one of them are going to end up being a driver. I'm pretty sure. So you're five years old. You say, I love this sport. So what's the first step that someone takes to become that champion that you are? Well, we went and we opened up what went at the time was the trading post in Richmond, Virginia. And we found a go cart that was quote unquote race ready for $200. And so my dad went and he bought it. And, you know, I just started tinkering with it and working on it. And so he took me to a dirt track. And I never forget. He says, all right, well, this is how you steer, this how you go, this how you stop. Go out there. And so it just sounds like a dad. He just watched me make laps and he watched me get the go cart sideways and correct it. And he's like, Oh, okay, well, his car controls good. So I'll never forget just a few weeks later, he took me to a race and I won my very first race. And you give a five year old a trophy. He's going to want to go get more. And that's what I did. Well, Biden's student loan bailout was blocked again by a federal appeals court. But Joe Biden and company don't seem to care. Joining me now to talk about it is Kansas Attorney General Chris Kovac, who has sued the administration over their program. A. G. Thank you so much for coming in. Another $1.2 billion. And we've got a full screen to put up all the costs. So far, taxpayers are shouldering now $168.5 billion in forgiveness. It affects 4.76 million people. So you compare that to the 350 million Americans who are funding the whole thing. So it's it's just extraordinary. It might it might add 1.9 trillion to the federal deficit. Didn't the Supreme Court determine that funding of this magnitude has to be done by Congress? It can't be done by the executive power alone. That's exactly right, David. In 2023, the Supreme Court ruled in a six three decision that the first round of debt cancellation was unconstitutional. Only Congress can do something like this. Then the Biden administration, the spring rolled out the second round and the state of Kansas. I brought one lawsuit. The state of Missouri brought the other one and a group of Republican attorneys general joined together as fellow plaintiffs on behalf of our states. And we won again on the same basis against the second round of loan forgiveness in front of two Obama appointed district judges. So these are not conservative judges ruling against President Biden. It's in the Constitution that Congress is the one that that can dole out this kind of money if they decide to. And they don't want to touch it because they know so many Americans are against it. That's that's exactly right. Congress would never pass this. It's stealing from the poor to give to the rich. The money for forgiveness doesn't just happen magically. The debt is not canceled in the sense that it disappears. It's transferred. It's transferred to the rest of the taxpayers. And so people who didn't go to college, people who paid their own way through college, they're paying off the debt of those who ran up exorbitant student loans. But AJ, the problem is that Biden's Department of Education, they're the ones in charge of all this. I think it was under Obama that they moved student debt program into the hands of the Department of Education instead of the private banks. But he continues to tell, to send out messages to people who are in debt for their student loans that everything is okay. And I just going to read to you something he sent out this morning as an ex post. He said borrowers enrolled in the save plan. That's their plan to have taxpayers pay off the debts will be placed in an interest-free forbearance while our administration continues to vigorously defend the save plan in court. The Department will be providing regular updates to borrowers affected by the rulings in coming days. So they continue to be putting out the message. Go for it. I'm just wondering how, if in fact, they finally concede that the courts have it right, how do they claw back the money if they can? Well, I think that's one problem right there because they're essentially telling people, they're sending out letters saying your loans are forgiven, your debts are forgiven. And the courts are saying no, they're not. So that's going to be one huge problem when they've told people one thing and then they go ahead and buy that new car or whatever they were going to do if they didn't have the student loan payments to make. And so the other problem here is they just keep ignoring the courts and hoping the public doesn't notice. I mean, one court after another, after another, Republican appointees, Democrat appointees have said, you can't do this. Only Congress can do it. And if Congress wanted the Department of Education to have this authority, they would have said so clearly in statute and they did not. So we have a president here that is defying courts. And and I think we all know the reason. He's trying to. It's campaign cash. He's using taxpayers' money as campaign cash. We got to leave it at that. Chris Colbeck, attorney general for the great state of Kansas. Thank you very much. We'll be right there. There's renewed anticipation that the Federal Reserve could be cutting interest rates after retail sales came in flat for June. Retail sales for May were revised higher up 3/10 of a percent. Excluding auto sales were up 4/10 of a percent last month. It's proving that somehow if the consumers still has checks and they still have credit cards, I don't think they have any cash, but they're still spending number one. For the year ending in June, retail sales are up 2.3%. There's another sign that demand for luxury goods is softening, especially in China. Hugo Boss is lowering its forecast after sales declined 1% in the recent quarter. Both Burberry and Watchmaker Swatch also are expressing concern. Luxury giant LVMH whose brands include Blue Baton, Bulgari, Fendi, Dior, and more reports its earnings next week. Traveling to Europe this summer? Make sure you're not going to a city where Taylor Swift is performing. Research from co-stars says hotel room prices are up as much as 40% around and during Swift's concerts. Travelers to Europe have been working around the show switching to different cities because of the popular tour, which has pushed up some rooms to $600 a night. That's a look at business in New York. I'm Lydia Hu. I'm Brian Yennes and I'll be covering Democracy 24 on the campaign trail. The campaign trail is a wild ride. It is fast pace. There are twists and turns and yes, there is spin. It's my job to listen, cut through the chaos, and to tell the right story. But I have never been more excited. Buckle up America. Here we go. The fishing industry is hugely important to the New England area, but from February to April, a lot of the waters off of Massachusetts are closed to lobstering to protect these North Atlantic right whales and more closures are on the way. Entanglements are one of the leading causes of injury and death for the whale species, and lobster and crab fishing require a lot of ropes, vertical lines that have a higher risk of leading to entanglement. The federal government is making emergency additional closures next month, closing another 200 square miles off the coast of Massachusetts to lobster and Jonah crab fishing to protect the right whales. It's concerning to the Massachusetts lobsterman's association because there's less and less water for them to fish. So no fisheries are trying to come up with ways to save the endangered whales while still making sure fishermen in New England can do their jobs. They have a gear library where scientists, manufacturers and fishermen are working together on new rope list gear. There are three types of it and dozens of fishermen have already tried it. Many of them lobster and crab fishermen. Our goal is to keep the fishing industry profitable and work with the fishing industry to help them come up with solutions that will help them maintain that profitability, maintain their capability to fish in these closed areas. The gear is still in its research and development stage, but fishermen can reach out to trial it. They'll ship it anywhere from Rhode Island to Maine and they'll even give fishermen a stipend for providing their feedback. In Hyannis, Massachusetts, Katie Byrne, Fox Weather. Hi, everybody. For the latest business and news headlines, check out foxbusiness.com and foxnews.com and keep it here. In business, you need to stay a step ahead. Your top story's right now. It won't go up. Okay. So download the free Fox Business app. Just scan the code on your screen. You've got to announce that moving ahead comfortably. Put the markets at your fingertips. Get the latest from Wall Street to Washington with the inside investors need. So here's the good news, folks. Let's take a quick look at the markets. The Fox Business app makes it easy to be in the know wherever you go. Let's get right down to it. Download the Fox Business app from your app store or scan the QR code on screen now. Well, thank you all for watching a special edition of Cudlow. Larry's going to be back on Monday. You'll be happy to know. Have a wonderful weekend, everybody. But first, before you go outside, Liz McDonald is here. I'm Guy Benson. Join me weekdays at 3 p.m. Eastern as we break down the biggest stories of the day with some of the biggest newsmakers and guests. Listen live on the Fox News app or get the free podcast at guidebensonshow.com.