Just two days after Kamala Harris picked far-left progressive Minnesota Governor Tim Walz as her running mate, Donald Trump stood up for over an hour at a news conference today
in Mar-a-Lago and hammered the entire Democratic ticket. On the economy, inflation, open borders, crime, foreign wars, and so forth. You could almost call it a fresh campaign reset.
With Katie Pavlich, Tammy Bruce, Dagen McDowell, David Bahnsen, Kevin Hassett, and Douglas Holtz-Eakin.
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it's time to take the quiz five questions five minutes a day five days a week take the quiz every weekday at the quiz dot fox and then listen to the quiz podcast to find out how you did play share and of course we'll listen to the quiz at the quiz dot fox hello folks welcome to cudlow i'm Larry cudlow so president trump back on offense today wrapping up an hour plus press conference just a few moments ago we've got dagan mcdowell katie power to tell me first gonna weigh in on that whole story in just a moment but first up fox news brian yennes gonna give us a roundup brian so what did you see what you think you saw Larry well look it was over an hour he took something like 40 questions the former president taking question after question on what is now the 18th day that his opponent vice president comla harris has gone without having a news conference herself since she became the presumptive democratic nominee what are we doing right now she's not doing any news conference you know why she's not doing because she can't do a news conference she doesn't know how to do a news conference she's not smart enough to do a news conference and i'm sorry we need smart people to leave this country because our country's never been in this danger before the former president said harris and her running mate governor tim walls are enjoying a honeymoon period in the polls right now that will come to an end when people get to know her and her policies trump warned that the harris campaign will raise taxes especially since the trump tax cuts expire next year and he said voters are going to quote vote with their stomachs meaning inflation at the grocery store is the inescapable issue for harris we're going to have no tax on seniors social security and we're going to have no tax on tips very simple and we are a country that has so many different ways to make money we have we have under our feet more liquid gold i call it oil and gas than any country in the world much more than saudi arabia much more than russia trump then said he believes president should have a say in the interest rate decisions made by the federal reserve while commenting on fed chair dron pal the federal serves a very interesting thing and it's sort of gotten it wrong a lot and uh he's tending to be a little bit later on things he gets a little bit too early and a little bit too late and you know that's very largely a uh it's a gut feeling i believe it's really a gut feeling and i used to have it out with him i feel the president should have at least say in there yeah i feel that strongly trump challenge harris to three debates larry september fourth right here on fox abc news on september 10th and nbc news on september 25th harris has agreed to that september 10th debate so we at least we'll get that one on abc larry all right brianians thanks very very much so president trump back on offense hitting kamala harris on all the issues that's a subject of tonight's riff just two days after kamala harris picked the far left progressive governor tim walls i don't trump stood up for over an hour the news conference today in marlaga and hammered the entire democratic ticket and i mean hammered on the economy inflation open borders crime barnwars all across the board you could almost call it a fresh campaign reset here's just a little bit of the hammer kamala's record is horrible she's a radical left person at a level that nobody's seen she picked a radical left uh man that is uh he's got things done that he he has positions that are just not it's not even possible to believe that they exist kamala has been the presumptive democratic nominee for 18 days still hasn't yet faced a press conference or any media questions at all for that matter mr trump had no teleprompter look like you just had one page of notes answered all the questions still standing tall at the end of the 64 minute presser joe biden couldn't do it kamala harris won't do it now trump did it did it well now for my taste could have been a little growthier then again i always want growth here you did however have a very good tax cut section take a listen to this tax cut stuff love this no our tax our tax cuts which are the biggest in history our tax cuts are coming do as you know very soon if they don't renew them uh it's the equivalent of having a four times tax increase from what you have right now and it'll destroy the economy but in all the years of studying politics i've never seen people get elected by saying we're going to give you a tax increase right i've said a million times tax cutters win elections tax hikers lose them glad mr trump still agrees america's great middle class has been swept up by high prices and shrink and paychecks with the entire biden harris term and lately they've been hurt by rising unemployment among those without college degrees which covers nearly 70 percent of the workforce the unemployment rate has jumped from 3.3 percent to 4.6 percent that's a big in recession threat i think mr trump should keep going growthier to the great middle america and the great middle class working folks lower taxes mean higher paychecks reopening liquid gold means cheaper energy at an end to the biden harris affordability crisis rolling back biden's nearly two trillion in red tape and regulations a boon to small businesses left wing progressives like kamala harris and governor waltz always blame business rather than their own tax and spend so-called modern monetary theory progressivist policies that are always doomed to failure keep that hammer down mr trump keep it down finally as brian told us mr trump offered to bait on fox new september 4th nbc september 10th abc september 25th a beef debate on cbs phrase running mate senator jd vance so far haven't heard a debating peep from the kamala crowd and that's the riff okay so let's talk agin mcdowell cohost of the bottom line right here on fabulous fox businesses katie pabach editor of town hall dot com and fox news contributor and tambi bruce also a fox news contributor and author of fear itself fear itself katie pabach did he get it done was it a reset did he need a reset what did you make of it he definitely got it done i'd say there's some fat that could still be trimmed off of some of the answers in terms of talking about things that don't necessarily affect the lives the people he needs to vote for him but he did a great job talking about electric vehicle mandates about energy one thing that really caught my attention is he went after kamala Harris for her electric vehicle mandate including for trucking and he mentioned that you would have to rebuild every bridge in this country yes as the trucks are so heavy uh and so it's like these things are just not practical not to mention people don't want them and they're too expensive but he's clearly drawing a contrast here not just with kamala Harris but with president joe biden and i thought him going after the way they took him out and saying he had the right to run for president and now you have a woman who is in charge of the democratic ticket running away from the press on answering questions so whether american public will reward him for coming out when she is hiding we'll just have to see but we have a debate agreed to in both of them September 10th we'll see if they agree to the other two you know not to get too lost in this timmy but the fact is um katie is right trump is right to this day we don't know exactly how it happened that the president of the united states who was essentially presumptively nominated in primaries to head up his home party again suddenly lost his job as the nominee i don't know if he lost his job as president or not i can't figure that out either but folks don't really understand that they don't know that i think that's sort of a dangling modifier yeah and it should be discussed and explained because it's not just that event that is inexplicable the entire process has been how biden got elected hiding in a basement that how how did kamala Harris get chosen what have they been doing for the last three to four years who has been in charge what who is the people responsible for this disaster who is really responsible for the afghanistan airport catastrophe who's responsible for the well it's a competitive enterprise institute notes fifteen thousand dollars a year cost a household because of regulations who's done that and now who is kamala Harris all these questions come up and i think trump points out to them in in some fashion about authenticity honesty transparency who are these people why is it tim waltz being portrayed as some kind of awestruck moderate democrat when he's bernie sanders how does that work so it comes from all of that from the beginning american people have to realize that this has been the ultimate in gas lighting and we've been lied to continuously which allows them to be you know to do what they want while telling us not to believe our lying on they can come to you on this though was this a reset because trump has not had by some critics trump has not had the best ten days of his campaign and i was talking to vivakarama swami about this last night others have raised the issue you know going after brian camp in georgia um few other miscues kind of off message now it looks like with walls coming in and he is a far left guy no matter how much of your chucks as tamer said is this a campaign reset coming out swan just two days after they put this guy waltz up he doesn't need a reset he just needs a focus focus he needs to focus more and of the one thing i wrote down from the press conference it is of course i've never heard any one campaign on a tax inquiry yeah don't you love that boom shakalaka but he can hammer that even more not hammer heard me say that i heard me say that so rather presently the last several decades i want i don't i want a pile driver yes on that issue and on all policies that matter to the american people because though he has the opportunity to paint kamala harris into a corner because she is saying nothing about policy so the democrats want to raise taxes on the vast majority of americans the democrats want to get rid of the trump tax cuts they weren't for the rich they were for the working man and woman the democrats want a lower standard deduction and they want to tax the businesses that you work for or run that means fewer jobs that means again a stranglehold on you and your family that is more of the last three and a half years of intentional suffering and hardship that harris and biden have inflicted upon you so keep hammering the tax cuts but also everything that kamala harris has helped do has been a uh to hand out to iran they've enriched iran they have enriched climate crusading cronies and they've enriched people who have the privilege of going to college and getting a four-year degree they have told roughly eighty five percent of all americans who didn't have a college degree they didn't get student loaned at me don't don't have student loaned at 70 including people not in the workforce it's more eighty five percent but the point is that so but they've told those people screw you you don't get anything and they're doing more of that and she's bragging about it hammer hammer hammer hammer on that all right katie so that gets to it i mean was there enough of that in the press conference today because this is there was a lot of that followed by other things so i could like trim off the other stuff and just focus on those things i think that would be the most helpful uh for the president but yes i mean if you can focus on what he's saying in terms of substance he wins every time and the fact is that yeah kamala harris has not produced a single policy position on any of these things she's allowed her surrogates to speak for her and the claim has been made well they just threw this campaign together she's only had a month to do this well she ran for president once and they have ran away from all of her far left policies and if they were actually popular for the country they would be running on them and so they're running away from them and they're lying to the american people when they say that they have any plans that are different from her policies of the past they will implement them if they get elective she's worse than anything that biden's done in the last three and a half years if you get rid of hydraulic fracturing in the united states that destroys 65 percent of the natural gas uh 65 percent of the oil we produce more than 70 percent of the natural gas we produce that crushes every household period can i just add something on that let me let me just lose this pennsylvania by the way well and it wraps up the election ultimately when you're when you've got the details taken you understand these things kamala harris can't speak about them because she doesn't understand them she's repeating things that whoever that anonymous kabal is tells her what they're going to do she can't explain it she can't defend it she can't tell you why it's good for the country that's why she can say nothing they will be desperate they won't agree to three debates maybe they'll just do the one they're desperate to hide her like they were with biden there's something wrong with kamala harris and the nature of what she understands just like for a different reason there was something wrong with biden they will avoid it completely and the american people cannot accept silence from people that have lied to them for for two generations well he was i thought it was fascinating at one point he was defending biden yes i mean i just thought that was interesting because that brings out this business it's like we just had an undemocratic right transfer of power in the united states accept that uh whatever 200 million or 250 million voters had no participation in it whatsoever yeah and that's something that i think sticks in people's craw they know that they know something that there's something wrong there's two things that happened really wrong one of them was the shooting of butler penciling and no one has figured out yet the secret service catastrophe yeah it's a huge cover up with the fbi right and the other one is this a cabal just removed a president in what would normally be called a coup d'etat again you know i like to do the economy i don't like to vary from that so much but i think these are hot political topics and i'm glad trump at least got to well he had a moment of his his comedy today as well when he was talking about his ear he said he got shot in the lobe but he got shot at the top of the top of his ear not his lobe so that was pretty funny but in terms of the question of yes there's something seriously wrong when i did in the white house won't explain why he's staying in the presidency but isn't capable of running again how kamala harris do all about this decline and all of a sudden she's now the nominee and she gets to take over at the last minute claiming that she knew nothing about what was going on behind the scenes they've always accused trump of breaking norms this is not normal and they also claim to be the party of democracy and while they were trying to get people like rfk jr out of the democratic part primary filing lawsuits against him trying to keep them off ballots they didn't have a primary and now all of a sudden they just switch out their candidate and she expects that she can just walk into the debates that were previously negotiated even though she wasn't the candidate like she's entitled to that it's pretty amazing to watch i think so too i mean i really think it's a big issue tami one thing bothers me the secret service discussion is this it's out of the mainstream it's out of the press right now now congress is a way there is a task force blah blah blah in the house i don't know what's going on there are secret service agents who were at butler pennsylvania butler field who should not be at work right now until we find out what the story is and i think america is acutely aware of this problem as well as this so-called coup d'etat problem i wish more that had been coming up in the press conference today although trump you know was valorous and what he did but this is a big thing and americans are scratching their heads and you're starting to read in the newspapers now conspiracy talks this was a conspiracy this was a plot this was a rant i have no idea about any other because i don't have any idea period well that's why that's how conspiracy theories also start to rise right people don't nature doesn't like avoid and so that it's inviting this kind of problem of conspiracy theories there was new body cam footage that was released about the officer who went up onto the roof slight reminder about what happened but it's been an extraordinary cover up after a president a former president presidential candidate almost murdered in front of the world and yet it's now almost like oh well next i worry that it's like the las vega shooting at the massive shooting at the concert we still do not know and it's just gone away this is a problem but it's not helpful when conspiracies begin to develop and yet i have to say for someone who is vehemently against that dynamic is that it's understandable and after the russia hoax and the fbi's fingerprints on that it's now not so strange to think that there was a conspiracy but we've got to maintain some kind of focus and vigilance because it is an outrageous frightening dynamic for the american people and then coverups come into it's one of the other things that americans don't like kamala harris's likely role in covering up what was happening with biden that must also be discussed at length take in um affordability crisis among middle class working people is not a cover up they know it very very well mr trump must address this again and again and again i don't think he can talk about it too much no absolutely not the it is all on the backs and shoulders of harris and biden and what they've done and ej and tony wrote about it seven and a half trillion added to the federal debt one trillion in cash spent out of the treasury department two hundred and eighty billion dollars actually annually that people are paying just to on their outstanding credit card balances and their wages real disposable personal income you like numbers down has fallen paychecks have fallen right it's the single biggest it's the single biggest worst part so i think of the uh biden harris legacy real disposable personal incomes fall more than six percent in the last three and a half years and it was up twenty some percent under president trump it is all it this was all avoidable you don't wait where did the money go they're borrowing two trillion dollars and running a two trillion dollar deficit this year that's a recession level deficit where is the money going well you were crud intentionally crushing people at home and you want to buy a house you can buy a house they're prices skyrocketed mortgage rates soared in america's rent right and they have done and they have done despite the fact they know it doesn't work they have never changed policy despite in the face of knowing that it's hurting people they blame trump no they blame trump that's the most they always blame trump the other day when the unemployment rate went up they blamed trump it's like what who's been out of office for four years so much power wow he's not around i don't know where he is i gotta get that you want to know how badly government sucks they can't protect president trump's life that's how bad government sucks well there's that i agree i mean all these things i mean i think on the whole trump did pretty well you know these things are never perfect of course i don't know that's not you're all perfect oh thank you Larry katie power Tammy Cruz taken me tell thanks thank you sure to catch taken with her co-hosts on duffy on the bottom line week nine six p.m. eastern right here on fabulous fox business come that next here's a whopper the dow up six hundred and eighty point it must have been because trump did so well but then again it's it started before he had the press conference so we'll ask david bonston to help us out on that and remember folks you get cut low money through friday 4 p.m right here on fabulous fox business if you can't catch us at four please just text your favorite nine-year-old and she will show you how to dbr the show and you will never miss a tax fact i promise you. for centuries nations have tried and failed to find a shortcut between the atlantic and the pacific it would save time it would save lives it would save money but it would take american imagination american industry and yes american guts to finally pull it off an army of american led workers was poised to make that dream a reality by 1907 they had already blasted and hauled millions of tons of earth from the infamous calibra cut but when the rains came the american excavation team experienced a new kind of hell landslides were probably the biggest problem in the construction of the canal the big problem for him was something they called the kukoracha shale as it strains it gradually loses strength and as it relaxes it soaks in more water and as it soaks in more water it gets softer softer softer softer and these hills just start sliding down and it just gets worse and worse and worse as the calibra cut grew deeper the banks grew steeper and the risk of a deadly slide increased often you had landslides that were very dangerous they would kill dozens of people they would turn over trains and the trains turning over would kill people mudslides would come uh barreling down the hillside and destroy all their work and just destroy the steam shovels kill men and then it would set them back months at a time to dig it all back out to solve a problem of biblical proportions gothals unleashed a biblical solution a flood what gothals ends up doing is he ends up flooding the excavation and they start dredging from that point on gothals ordered five times more dredgers into the flooded cut and the pace of the job grew ever faster so you had all this earth that was excavated with shovels up to 1912 and that equaled about what they dredged in 1913, 1914 so the dredging was much more efficient you didn't need explosives to blow the stuff up because it as it came down it just kind of liquefied and you could dredge it as the digging dragged on in the heart of the isthmus engineers on the coasts were building the world's largest dam and the most ambitious log system ever attempted i'm bret bair and i'm chief political anchor for fox news and i lead election night coverage this would be my ninth election night behind the anchor desk i took over for brit Hume my mentor and friend and he told me three things he said the show is not about you the show is not about you and elections are important i took away that integrity and being right matters hello to our viewers in Canada thanks for watching thoughts on rogers if you want the latest reports from our correspondence visit both foxbusiness.com as well as foxnews.com today is a new day and foxnews.com just made it a little bit better yeah we're still the go-to for politics breaking news with original and exclusive reporting but we've got so much more sports entertainment lifestyle what fox news has games you betcha eager better with so many more ways to find the stories you want it's the perfect way to spend your day foxnews.com bringing you the world according to fox all right 680 point stock market rally today the middle of press conferences and politics and what not tell you grady what is going on in the world well larry that bounce back after some good labor market data right called investors fears that maybe we're not headed into a recession so here's where we finished right dow up 683 s&p up close to 120 nazek up 464 big driver the initial jobless claims that we got this morning total 233 000 for the week that's down 17 000 for the week prior also well below the estimate of 240 got a marvel at the 180 right good news for the labor market used to spooken fellas investors and inflation was here to stay now it's giving the labor market that hey look it's not as bad as the last friday's jobs report showed one note though continuing jobless claims they ticked up to 1.875 million that's the highest level since late november 2021 speaks of the trouble those that are unemployed may have finding a job zooming out though we still haven't fully recovered from monday sell-off or the end of last week jitters the down still down 630 points the s&p 500 down 58 points nazek down 120 so larry look these are day-to-day moves right you can see how little piece of market data sends things up and down today though wall streets happy all right thanks very much kelly oh great you're joining us out let's flame it david bonsen managing partnered to bonsen group dear friend david it can't be a couple thousand on ball to weekly unemployment claims really no it can't be i just with all due respect and you know what else it isn't it isn't uh kamala harris and it isn't you know all the different theories um one point three percent is what the dow is down do you know why the dow can go down one point three percent because you and i sneezed it doesn't count we've gotten spoiled and we're a little deceiving on the numbers because we say a thousand points yeah that's two percent now yeah thousand points used to be you know to ten percent what has happened with it uh look the monday thing that again carry trade deal that people are kind of bored hearing about that was going on you don't have the worst day in the d_k one day and the best day of the d_k ever two days in a row and that's something that's very technically broken so they had a leverage deal they got blown up um the nazek's overpriced the big tech stuff is expensive right the dow is barely down at all and um we've been talking about this in your radio show values do in fine yeah dividends are doing fine energies do in fine um interest rates bounce back up today or the last little bit a ten you got back to four percent so it's still 70 basis points lower than it was a few months ago but yeah it got to um three sixty six on monday so the bottom market's not pricing in recession but it's pricing in slow growth yeah i don't want slow growth i want good growth um the profits numbers look profits are the mother's milk of stocks and the lifeblood of the economy um profits numbers bounce around i mean in the aggregate maybe this is boring to our viewers it's i know it's not political but in the aggregate my impression is right now profits are still okay then it's they may not be fifteen or twenty percent but it's not minus ten or fifteen percent oh no no they're positive fair enough that's very fair here's the problem area they priced in thirteen percent profit growth next year and we're trading at 21 times that number oh so that's way over that it's just overvalued um first of all i'm glad that we can talk about profits instead of politics because every now and then with the stock market that's kind of what you're supposed to do right well i thought the market rallied uh on trump's press conference what's the press conference it starts on the market rally with the balance with just kidding but but there is a risk when the politicians go into and by the way trump president trump's tweets on monday we're all fair game in a campaign but i'm just saying the problem of blaming someone when it goes down is then they take credit when it goes up and it gets a little crazy it's profits it's profit expectations and i would argue that it's priced for perfection next year in the tech sector and anything less than perfection brings a lot of it down so for folks you know average normal run-of-the-mill middle-class folks if there is such a thing listening to this discussion what would you advise them in the market look if they're invested in the market and i know everyone wants to talk about just buy and hold the index and you talk about that a lot it's a little cost way to do it but i got to be honest i think the index has become a play on tech a play on invidia and that's a little risky and the last time it got like this where tech was 30 40 percent of the market was 2000 that didn't end well so i do think people need to diversify and and be a little more value oriented for us we're dividend growth investors but there's other ways to do it too i'm not only here to talk my book would you sell bonds and buy stocks soon and not yet uh you're gonna get to that point because these bond yields are gonna go lower fed's gonna be cutting and i'm just not bullish enough on the economic cut emergency cut i know you know if they did that look out below that would be a panic move last time there was an emergency cut it was covid they were shutting down the country that's right time before that it was bear sterns going under but the economy is definitely slowing definitely slowing stocks and profits will slow with yeah and that's the issue if all of a sudden you start getting downward revisions on profit growth yep next year expectations in the second half of this year are revised lower then i think you will see the index coming down then you add to that the volatility of israel and the election yep energy i'm watching because the election has a lot going on there with lng export crude production that's what you want to watch if you're election focused all right david balsen thank you sir it's up into it people don't understand sometimes i don't understand maybe most of the time i understand anyway coming up here on cudlow tax cuts win elections that i understand tax hikes lose them i understand that too to talk about it with kevin has to go ahead cudlow return thank you the market's wild ride with the latest volatility fox business has you covered during every market hour with up to the minute developments and critical insight on what it means for your money must seek coverage all this week on fox business invested in you commercial supersonic travel might be here sooner than you think this plane behind me is basically a one-third scale prototype of what will eventually become boom supersonic passenger plane caring about eight people they call it overture and take a look at this boom says flying about twice as fast as commercial planes do today and of course faster than the speed of sound its planes will be able to drastically cut travel time on transcontinental flights here's what those overture planes will look like the company already has more than 130 orders and pre-orders from united american and japan airlines when you think about supersonic travel you probably think of the concord which was really expensive unattainable for a lot of people and ultimately was taken out of service a few years after a deadly crash boom ceo says his company's planes will be different compared to concord with half a century old technology today we've got lighter materials better aerodynamics more efficient engines and we put all that together our first airplane will be able to make supersonic flight available at business class kinds of fairs and then we'll be able to do premium economy and then i think there's a future not too far away where supersonic can actually compete with economy class fairs and the research development and testing is already underway this video shows the plane you just saw on its first test flight last month the very first time that aircraft ever left the ground we talked to the two test pilots who will take it on more flights below the speed of sound at first subsonic looking to eventually fly supersonic possibly as early as this year each time we go out we're going to a little higher and a little faster and we'll work up an altitude and up in speed sometimes at the same time sometimes separating those two things second flight will have a lot of first as well that'll be the first time we retract the landing gear so that's the that's the that's the big focus of the of the second flight boom is about to open a new factory in north carolina they hope to have passengers flying on these planes commercially by 2029 there are other companies working on similar projects but boom ceo tells me they've got about a 10-year head start on the competition in mohavi california greaty trimble fox business whether it's commercial private military or corporate planes aircraft mechanics are crucial for safe flights but there's just not enough of them to go around right now some of the students at this school's program are hoping to fill that gap i kind of think of myself as an airplane doctor when i was younger there was a program called operation purple where they would send military kids to a summer camp for a week army national guard came in one year and they brought a black hot helicopter and it'll eight-year-old me nine-year-old me it was like that's the coolest thing ever and haggston and justin basco love all kinds of aircraft they're two of 12 students about to graduate from the aviation maintenance technology program at south western illinois college it's really interesting every day's different the money you can't really complain with especially with you know everyone retiring those retirements are helping to drive the shortage of mechanics we had the baby boomer generation and that's what filled the workforce and now they're all retiring so this is you know the next large wave as it were all the people now need to start filling in all the spots that are being vacated by people who are retiring or at that age a recent report expects the aviation industry to have a shortage of 12 000 to 18 000 technicians this year and that number is projected to grow they don't have enough mechanics they can't produce certain amount of hours that you know inspection stakes or they may have to down planes or extend planes maintenance activities longer which could disrupt travel but some commercial airlines like delta don't anticipate issues delta says they're getting ahead of the shortage with a strong pipeline of workers through partnerships with schools and other recruiting efforts in the meantime these future mechanics are ready to get to work i'm glad that there's jobs available but i really hope that a lot of people join us so that we don't end up with like having to work over time and being stressed out nearly one third of the current aircraft mechanic workforce is at or near retirement in granite city illinois madison scarpino fox news navigating your next market moves after the global sell-off what's the forecast for wall street and where should you invest your money now the dean evaluation has expert insight friday on barons roundtable not to you by global x beyond ordinary etfs all right come all harris soft on crime record seems to be on full display here with another great report fox news senior and national correspondent wayam lajanes live from los angeles william you slaughtered last night i saw i couldn't sleep a wink if you ever came against me what do you got for today for heaven sakes well let's talk about her record and some positions number one uh she opposes mandatory minimum sentences for convicts she supported the d_c_ handgun ban wants a national report of view board for police shootings but she's being criticized even by some democrats for misleading voters and lacking leadership on the soft on crime pop 47 California prop 47 allows certain non-violent unserious felony convictions to be reduced to misdemeanors the year 2014 please call prop 47 a get out of jail free card retailers and local d a's predicted a rise in crime but the state's top cop attorney general kamala harris said at the time nothing just hiding out not doing her job not educating the public harris claimed as ag it was her duty to stay neutral others disagreed top newspaper said harris failed to inform voters calling her gutless and disappointing prop 47 was a lie from day one ten years later some voters want to undo prop 47 still blaming harris for mislabeling it the safe neighborhoods and schools act it's deliberately misleading title which promised safe neighborhoods and schools was intentionally designed to trick voters throughout her career harris governed as a progressive i think san francisco wants a progressive district attorney as d_a_c_ promised to never seek the death penalty which outraged critics and allies alike when a man murdered police officer isek aspinoza i think this district attorney made a very big mistake as a matter of fact if i had known she had said that in her campaign i never would have supported her as u_s senator harris said defunding police allowed cities to spend more on services to believe that by putting more police on the street you're gonna have more safety and that's just wrong she supports sanctuary laws shielding criminal aliens from deportation and decriminalizing illegal immigration we're not going to treat people who are undocumented across the borders criminals so as ag harris was supposed to accurately tell voters what pop 47 meant for public safety she didn't critic say there was no mention that it stopped d_n_a_ collection from some felons crippled the ability to solve crimes didn't warn of the spike in theft or the cost to consumers larry all right will you imagine that thank you for that redant we appreciate it all right now let's uh... talks more about the economy joining me dear friend kevin has it former chair of the council of economic advisers author of the great book the drift stopping america slide into socialism kevin you probably saw a former boss uh... press conference today or parts of it or heard about it or something um he had a nice section i don't maybe we'll play it again he had a great section how tax cuts win elections tax hikes lose them uh... that's uh... couldn't agree with that more was he growthy enough kevin that was the question i asked i know he was in that game was it growthy enough that he make it to the middle class that he talked about improving paychecks sufficiently yeah i you know i believe he did and and he's got this proposal to and the taxation of social security i know some conservative friends of ours have criticized that but it's an example of growthiness because right now if you're a senior and you think your social security isn't enough and you go back to work then they tax the heck out of you and reduce your benefits so the marginal tax rate could be the highest for anybody in the income distribution and we got to get people back to work it's a total supply side thing so i think that the fact is that if president trump's not elected a lot of the trump tax cuts are going to expire and probably the democrats aren't going to renew them and uh so i think it's important that he get back in and he and he emphasized the benefit of his policies i thought adequately and he did he got that he talked about social security relief and that can be worked out it can there's a lot of ways to work that at you and i have already talked about that and falcon der and so forth and so on and it seems to me if you relieve the social security look you already paid once right he gets social security they're asking you to pay a second time in a sense a third time what the earnings says but the point is if you relieve the tax burden from social security overall right that makes employment more valuable so we would get more employment and if you have more employment that's gotta be a good thing i would think yeah absolutely and and you know there's another thing that our friend uh steve forbes has taught us that there are all these stealth tax hikes out there from inflation and uh president trump promises to get ahead of the curve to stop borrowing from a chinese and spending money and the fact is that if you think about it if the government borrows as much as it is right now then it's making it harder for you to borrow so your mortgage is more expensive your car loan is more expensive your interest rate on your credit cards are more expensive and you can think of that as a kind of stealth tax hike the higher mortgage rate is like charging an extra tax on you when you buy a house and so i think that all in all you're going to see a heck of a lot of supply side benefits from reducing government spending and having a big supply side push all right well i'm not everyone agrees with that uh kamala harris i'm going to play a little clip from her detroit speech um it's all businesses fault that's what it is take a listen to this it will be my day one priority to fight to bring down prices to take on the big corporations that engage in illegal price gouging take on corporate landlords that unfairly raise rents on working families to take on big pharma and cap the cost of prescription drugs yeah here you go it's all business fault it's not taxing not spending not regulating not modern monetary theory not left-wing progressive causes it's business kevin what do you think right and if you think about it that what she's basically signaling there for example is that she supports uh president biden's rent control even and so that was an incredibly socialist speech as she picked a socialist vice president who's very afoulately socialist right it's the democratic workers party that that he's a member of it but it's so and so the fact is that that's a really chilling thing that she just said if you think about it uh because a war on businesses a war on american workers and we proved that during the trump administration where we just deregulated business and cut their marginal tax rates and then all of a sudden wages grew by more than they had over the years of president obama and so think about it real wages are declined for eight years under obama for four years under biden they're over 12 they were uh basically baton a hundred percent under president trump and so why would people who care about their wages who care about their welfare support these people the way they are right now apparently in the democratic party it feels like they're a denial to me well it's the closest ironically i mean it not wasn't fabulous it was just a one or two liner in this detroit speech but it's the closest she's come to any policy discussions at all and i think what we're going to get is a rep yeah basically the biden harris economic policy we don't hear the term bidenflation anymore we don't hear the term bidenomics anymore but nonetheless we're going to get uh kamala nomics good look a lot like bidenomics maybe even worse is that fair i mean this is the first time she said a word about anything to do with policy right and and the thing that bothers me the most about what she just said i'm sorry uh but the fact is that she's the vice president right now and we have a president that's probably asleep somewhere and not doing anything and so effectively she's running the white house and so why does she have to wait till next january to do something about inflation why can't she do it right now right i mean why can't the biden administration do it right now it just doesn't make sense to me i have one last thing to add which is just that the i think the response to the initial claims today was way way wrong because people don't lay off folks at the beginning of a recession but they stop hiring and so it's really clear that hiring has stopped and that the jobs report signal from last week is like the true signal and so i think what that means though it's going into the fall going into the next jobs report for august that it's going to be another one like the one we just saw and that's also going to be very politically important because people will see the negative effect as they do in their everyday lives from these kamala harris policies well i still think we're in front end of recession by the way the the unemployment claims that you're supposed to look at the four week average smooth it's 240,000 it's up about 50 or 60,000 from where it was few months ago so it's trending higher that's the way you're supposed to look at that so i think it's a silly to look at it on a weekly basis or a daily basis uh but sure right more to be revealed on this uh on this whole story but kevin has to thank you for coming out we appreciate it very very much good all right folks next up the biden harris regulatory assault has strangled small businesses all right they've really taken it on the chin with all this red tape i think it's almost two trillion dollars worth so we're going to talk about it with expert douglas pulse eeken when kudlow returns i try to bring a positive perspective people may call that naive but i've got a pretty good track record kudlow coast-to-coast on fox business invested in you don schmitt prepares to collect his share of the last minute order 40 more tons of timber that's already been dropped to do it he relies on a hundred thousand pound machine known as a shovel logger and start up here with a maintenance check on her make sure all the oils are up i've been logging for about 35 years and it hasn't really changed much it's about the same as it's always been basically a shovel logger's job is to collect timber from the forest floor and stack it by the road in what's called a deck from there it'll be hauled out and shipped off to become the boards needed for america's latest building boom but with a last minute order looming don will need to move his 40 ton share of the load in just 10 hours which is a pretty tight deadline for any shovel logger but if all goes smoothly he just might be able to pull it off let's see if the old girl will run make sure she goes if she did well everything's go i'm gonna go clear that bill off we got to get the order done for it once in position don begins stacking his first deck of the day putting all these logs up here and trying to make them nice and neat that way the processor can get to them and they go right on the truck so the neater i make my pile that easier their job is if you stand at 42nd and park well you're going to get knocked down but if you keep walking through the columns you'll emerge into the grandest of stations the building is a brilliant marriage of engineering and design and its story is one of rebirth and reinvention the lush bose art design of ground central terminal featured classic style and symmetry it was to sit atop an unheard of split-level electric track system that extended more than 10 stories beneath manhattan but digging down that far would bring up a lot of bedrock they had to dig 10 stories down into the ground with a fleet of up to 10,000 workers in a day was a massive massive construction project to extract the three million cubic yards of rubble lead engineer william wilgers look to innovations from the ongoing panama canal dig there engineers used rail cars to remove earthen rock wilgers implemented the panama system at 42nd street but as the job site expanded it threatened to shut a train service and that would shut down the entire city in 1900 new york city the railroads were really the internet of the day so for a train station to shut down i mean that's cutting off a primary means of communication to keep rail service moving wilgers divided the construction into 12 stages called bites he took laundry total troughs dug out of manhattan going from east to west and what they would do was start excavating one bite and move to the next bite as they move to the next bite they'd start building structure on the east end even though the new grand central was being built service to the old grand central through the new york central never ceased just a marvel of engineering at the beginning of the 20th century to keep passengers and trains moving wilgers divided a complicated network of tracks and control switches it had 362 switches and it has about oh 100 miles a track compacted into that very small footprint and everything had to be engineered and figured out to the fraction of an inch all right the biden has regulatory assault strangling small business and getting worse joining us now dougney holtz Eakin former congressional budget office director president of american action forum dug welcome back so you're updating your uh thank you your biden regulatory tracker by what two three trill at two three billion dollars so you're 1.7 trillion now is that the final rule because seems like there's more than that but that's plenty 1.7 is an unbelievable number uh larry um you know i thought the obama administration was regulation without restraints and in two terms they imposed uh eight hundred ninety five billion dollars of regulatory costs in less than one term the biden administration has doubled it it is the most uncontrolled regulatory assault ever visited on america business community you know for people watching this show first let's especially small business people what does it mean tell us what it means when you know this massive amount of regular quote unquote regulatory red tape it's really simple you just had a nice discussion of tax policy with kevin has it this is tax policy in another form uh it costs you money to pay taxes it costs you money to buy a new piece of equipment they say you can't use the old one when they force you to raise your wages cost you money cost you money to get a lawyer if you're a small business you don't even know how to comply with the rule this is just uh money that has to come from these businesses and ultimately the businesses may fail that's the fear of the small businesses or guys won't start they'll just get uh uh too intimidated and for those that survive the only place those costs can go is into their prices and onto the customer so we worry about tax policy because it hurts growth hurts people's rear wages this does the same thing and the numbers are huge you know so let's say small business minded um fight the government all right um you know i thought the law but the law won i mean they want to fight the government they want to fight the federal trade commission or the SEC or something like that they really can't because the government has all the resources the small business doesn't yeah i mean this is something where uh you know in principle uh we like to believe that uh an agency issues the regulation they take 90 days and listen to comments and then if someone says you know that's completely unreasonable and there's a better way to do it they'd listen but in practice that's not what happens a lot of times they will issue like a final rule without comments and you just stuck with it now what do you do your business is literally threatened in some cases these are big dollars how do you manage that and then so i really admire what uh president trump did what uh your team did for four years uh you said look at one goes in two have to come out that we gave regulatory budget agencies did things i never thought could happen tremendous control of the regulatory state well actually trump trump thinks trump thinks that deregulation was more powerful than the lower tax rates i don't agree with that but that's not an argument i want i'll take them both you know let's have let me do you want to grow the economy look we're probably we are heading into a slowdown i think everybody acknowledges that so you don't want to raise rags you don't want to raise taxes i mean right it's just common sense yeah we really thought that the Biden administration would get this and they would slow down as they got closer to the election with the potential of a new congress but it really hasn't happened to the degree i thought it would they're churning out the rags on a regular basis and they cost real money and every week you know i let people add them up and uh that i really thank them for doing that because it's not exactly the prettiest uh picture and not a fun job yeah let me know back to um to take them too out for putting everyone in i think that actual number was even bigger than that but i won't quarrel with you anyway 1.7 trillion dollars that's a pretty big burden on all business but especially um small business dog health so you can form a cb other actor thank you sir appreciate good to see you again thank you all right folks coming right back with my last word jittery investors cautious following monday's global sell-off this as a new survey finding three and five americans believe the u.s is currently in a recession because of inflation and the rising cost of living and because their friends and family members continue to complain about money not only that but they think the recession started in march of last year so the middle america has been in recession for a long time the tsa says its pre-check trusted traveler program has surpassed 20 million active members a new record for the program that launched in 2013 the total number of vetted airline passengers for dhs trusted traveler programs is now over 40 million and tell her swift fans in viana will get refunds for their tickets this after three of the singer's concerts were canceled after a planned isis tear attack was uncovered it's actually really sad that this is actually the world we live in no one is feeling safe anymore going to um this kind of concerts two suspects including a 19-year-old are in custody that's business i'm cj poppa you airmen from the air national guard one hundred ninth airlift wing regularly travel all the way to antarctica to assist scientists as part of operation deep freeze here to further explain is navigator for the 109th airlift wing major jefferson would so what exactly is your mission in antarctica and what kind of work are the scientists that you are transporting doing out there so the 109th airlift wings mission is to provide logistical support to the scientific researchers who operate in antarctica a lot of people don't know but the united states uh antarctica program operates a research station in mcmurdo which is on the coast of antarctica as well as right at the south pole and part of our job is to ferry supplies from the base in new zealand down to the anarctic base at mcmurdo and then once we get to mcmurdo we're ferrying supplies and for the scientists as well as the scientists themselves to their research stations both at the south pole and elsewhere around the continent of antarctica and we're looking at conditions it looks like conditions that would really delay most airplanes but how is your aircraft customized so that it can take off as well as land in the kind of weather you find in antarctica sure uh yeah obviously when you think of antarctica you think of a whole lot of snow and ice and that's true uh there's not really anywhere to put a uh gravel runway on the uh ross ice shelf which is where the research station is so our landing fields actually directly on the ice on a seventy uh foot thick piece of floating ice uh at the edge of the ross ice shelf that is wild i mean gosh it almost looks like a penguin sliding on its belly down a hill there have uh have you ever had bad conditions you know bad conditions that were so bad you couldn't land well that's that's the interesting thing about this so it's about a two thousand mile flight from new zealand down to anarctica in our aircraft and uh we only have enough fuel for a one-way trip so regardless of what the weather is we have to land. Hello this is fox sec straight to our friends watching in canada thank you for choosing fox you can catch both fox business and fox news on rogers keep it right here in business you need to stay a step ahead your top story right now it won't go up okay so download the free fox business app to scan the code on your screen got to announce that moving ahead comfortably 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 all right from the press conference today mr trump said in all the years of studying politics i've never seen people get elected by saying we're going to raise we're going to give you a tax increase got that right tax cutters win tax hikers lose liz mcdonald up next yeah you know like from the fox news podcasts network subscribe and listen to the tray gaudy podcast former federal prosecutor and for term u.s congressman from south carolina brings you a one-of-a-kind podcast Subscribe and listen now by going to foxnewspodcasts.com
