Welcome back. Good tice morning. Thanks for joining us this morning. I am Maria Bartiromo is tuesday, september 26, 8 00 a. M. On the reaction, time for hot topic of the hour President Biden to michigan today to, join the United Auto Workers picket line tow between two priorities unions and climate initiative, fox business jeff flock is live in warern michigan this morning 11 days into strike. You suggested last hour President Biden may dmot have been most prounion president in u. S. History occurred to me, the president not only president of the union but actually started the strike, that would have been o Ronald Reagan screen, a guild 1959 so there you go, President Biden didnt start this but on picket lines today yesterday explained why he supports the uaw. Increased, salaries for executives, most, ask pariah. President biden visiting Forward Assembly not one of 38 parts facilities that are on strike, you know forward looked like it had been making progress with uaw, but yesterday, that apparent fell apart with, announced ford was going to scrap not scrap but pause construction of that big battery plant they make a big deal out of in february. Remember the press conference, with governor of michigan out in the jobs 3 1 2billiondollar investment . Well putting that on hold uaw not happy about it, as to President Biden visit General Motors put a statement out last hour, and they said, in part, our focus is not on politics but continues to be on baurthdz in good faith with uaw leaders to reach an agreement quickly as possible, workforce allow gm to thrive into the future i dont suppose automakers are thrilled with president s support but not like a surprise, maria thanks very much jeff flock in warren, michigan this Karine Jeanpierre mer what is she said transportation uaw supplying your decision to go. Absolutely not this is a decision, to visit picket line based on his own desire this is what president wanted to do to stand, to stand with auto workers what you see the president do tomorrow as you all know, shawn fains invitation from last week accepted that was proud to do so i want to know if joe biden supports 49 raise they want or 46 raise that they want if he supports 30hour workweek, getting paid for 40 hours, joe . S i would also like to know how is going to explain away, his push for electric vehicles given it takes fewer people to make those in america ail components made in china isnt that one of the gripes of the uaw right now. Look, i think people have to recognize the difference between somebody that is waking with you, an somebody who trampleing on you they want allelectric cars in the world made in usa they have restricted mining that allows us to have the very Earth Minerals necessary to make electric cars trying to impose mandates on ought makers to make cars americans dont wants nor can they afford them, the president talked about fact not all actual electric cars are practical for americans you have an Auto Industry trying to meet demands of workers, at the same time, trying to meet the requirements, of the market, and across the board, of everything joe biden has done, has hamstrung this try, 20, 50, 90 years old in your lifetime the american Auto Industry remains in decline in spite of efforts to proppit up because you have bureaucrats like joe biden dont understand we are in market must compete,china getting chap oil from russia we are shutting down production at home begging venezuela for more. This is so political rebecca, so, obviously, that it is political joe biden going to picket lines. I mean the picket has been going 11 days going today trump going tomorrow, so, you know, the press secretary can say all she wants get invitation accepted it the truth we know how this presidency acts he doesnt go to, you know, hawaii until the call and cry is outrage hasnt gone this is massive disaster there, so you know maria, this on its face such a problem, where this administration, because, we can see what are we talking about . This is personal for me my father in law basically retired, had i want to say what is telling them that the bits can stain a 40 pay increase on 30hour workweek . How does anyone think that is economically viable comofbl tesla has no Union Delivering cars i dont understand what their end game is because demands are not economically if we go to electric vehicle way, it will be auto workers, alexandria ocasiocortez appearing to cricket a core pillar of the Election Campaign in missouri this weekend said our whole economy is in have special kind of crises even though president tumultuous bidenomics on campaign trail, rebecca youre thoughts, trying to say bidenomics same sentence about economy in crisis. I mean, totally off message not on point here at all for her message i think this is the truth right . We have a crisis in bidenomics i dont any aoc was supposed at or about champion spokesperson object that he is right as we see fall son pass going to see more people unable to look in the camera and lie to our face nightmare. Bidenomics what is Bidenomics Joe . Six trillion dollars in spending taxing, raising taxes and relying on Federal Reserve to raise tripledigits. Bidenomics americans working harder for less wages going up not keeping up with inflation, and so, yes, with aoc all people on the left ever whz in a while truth does come stumbling out the same people remind us rightfully so, that you have 60 americans, who cannot afford 500 dollar emergency we see Energy American family of four down 7500 dollars in earnings real cold facts taking facts of cold reality based on people on main street every day right here in joe bidens america. A short break a market under pressure this morning going to take a look when we come rightfrei back. Stay with us. Romises. Big promises. Small promises. Cuddly shaped promises. Each with a time and a place theyve been promised to be. And the people of old dominion never turn away a promise. Or over promise. Or make an empty promise. We keep them. A promise is everything to old dominion, because it means everything to you. Made progress to know whether, to have weve had a number of people who say they would vote for the people tell me switch before somebody says switch to the other side i Kevin Mccarthy yesterday, siege optimistic that progress is being made to advance a handful of spending bills this week lawmakers, are back this morning, to the capitol expected to vote, on advancing four funding bills for department of defense Homeland Security, states and agriculture ryan zinke, thanks so much for being here. What do you want to say to us in terms of the appropriations we new september 30 was coming a lot of attacks on leadership because the bills were not done, and about to face the running out of money september 30 youve got to finish all bills to get the government funded how come these bills werent completed. Interesting, 10 out of 12 bills, look. We agreed that we start at the beginning could regular order hadnt been done in over a decade get through the Appropriations Bills they had too germane each had to pass, we agreed to that, then we get down to the well, lets get past the fence we dont have the votes, so pr stunt, michigan, pr stunt in d. C. The way forward you pass appropriation bills, each bill does two things lower curb on spending, it was a Tea Party Moment getting the box of weight off ship shouldnt pay sex change the most important one through our border we have to make sure we have a border. And march you dont Homeland Security bill looks like about 3 two feet tall 1,000 miles wide, or long, so we need to gets bills through Congress Needs to do work absolutely. Maria so you think you will have success getting Homeland Security bill and Defense Department bill through this week do you think two out of four is doable or you can get to all four . We have va, military construction, already passed the house, look. If you are not going to pass defense, on defense, the ukraine issue is largely segregated i think serves a separate discussion but the defense and our border we empower patrol to do their job the policy changes conservatives want in bill i didnt start it but going to end it i dont think the government should pay for to it your taxpayers should not be paying for this, we passed 10 out of 12, but every member knows and this is a secret maria, every member knows the 25 looking at isnt the problem. We got 75 of the Budget Congress isnt looking at half 25 as defense if we want to knuckle down say you know what get financial house in order that is appropriate both sides budget stop nonsense of discretionary nondiscretionary omnibuses, all tools for congress to do one thing, punt, congress punted too long, true defense, bill is critical. And many of your colleagues agree with that built if you only get the defense bill, you are still talking, and Homeland Security talking about a partial shutdown moodys warning u. S. Is risking losing top Credit Rating if in fact government shuts down whens press secretary Karine Jeanpierre blaming republicans as you ne we heard over and over again she blames republicans do you expect we will see a shutdown next week. Have a you shutdown has consequences every democrat voting, too a few rbs i dont know what they want but a shutdown was consequences, our military doesnt get paid. How about the corral, seaman needs car payment rent payment not giving a check serving the country . Wideranging consequences, i am not a big shutdowns advocate it hurts innocent people, just want government to do their job what i am for us a passing of bills sending to senate get on to business of the house i leave you with this a locality has to do with personal distaste of the speaker it doesnt have to do with budget, 75 of the budget is on mandatory side we need to look aftermath. Maria i think the checks go out and then we could see shutdown next day two weeks later, we are in jeopardy of seeing people not get checks, right . Absolutely. Youve got wiggle room if you shut down government, you dont see that much impact if a couple days right like two weeks later, send checks. I was secretary in last shutdown secretary has a lot of latitude i didnt shut down parks, permitting offshore inspections but i tell you what if administration wants it political can make it really difficult for everybody. Maria good point, look i want to show you this new abc Washington Post poll, 41 americans say u. S. Is doing too much to support ukraine. That number up nearly 30 from april of 2022 senator j. D. Vance wrote a letter to Jake Sullivan asking him to clarify how much money that we sent to ukraine a, noted 31billiondollars discrepancy krom because talking about, north of 100 billion dollars, when people see north of a hundred billion dollars to ukraine not a dime to our borders to secure the border they get mad, so that is one of the fights going on right now. Will money to ukraine be a factor when running out of money in america . It should be, and you know, maria i was a seal team come ander done a lot of operation never without a objective and plan i asked highest levels that are objectives in ukraine what is the plan . Until an objective a plan i i dont think taxpayers should pay tailings money where is money going we are absolutely correct asking that it looks like going for pensions, going for other things rather than defense in ukraine, and but, i think we need to ask question the defense bill was takes that money out i think a small amount that was in there before the war, for a militarytomilitary operations, are but, the heart we need a discussion the administration has to tell us what the objectives in ukraine, and what is the plan to get there, congress then should look at it, modify fund to that level i talk with jack keane about earlier general jack keane said one issue we dont have an end will go i agree is this Unlimited Money to ukraine . President biden says we will be there until you know until they need us, what does that mean, china on march i number of one adversary we need to see our Defense Department, is funded, because china number one adversary, is doing it, consistently, President Trump discussed strategy to take on china the economy there campaigning in south caroliha yesterday he said he intends to impose broad trifz on most goods remove china most favor nation trade status. We dont have ateam in here you afghanistan debacle probably led to ukraine no confidence what were doing in battlefield with china we are out of position in china, then back to how do we get back into position correct, the policy you pass the defense Appropriations Bills if you dont, you remain the same policies, and the same outlook defense appropriation bill we have, an important bill for the defense of this country tariffs i think made in america is great across the board we need to be competitive america, that means we need the energy costs down as you know complicated, but, you know, the leadership, is this is why leadership is so important. I wondered if different as relates to china because they are number one adversary, tar forgives china versus elsewhere we can focus on that good to see you. Thanks very much. Always good to see you. All right. Well be right back. Stay with us. 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And the end of the Third Quarter, we are looking ahead to earnings releasing beginning about two weeks time, meanwhile we wait to see if we had a government shuttled before quarter up moodys warning u. S. Risks losing top Credit Rating should got shut down next week the deadline september 30 also the end of Third Quarter joining me chief investment strategist Mark Luschini thanks for being here what is more important to you a Government Shutdown or the start of the Fourth Quarter when we hear earnings news from the Third Quarter . Maria, i think in equivalently earnings, Government Shutdown historically hasnt had that Significant Impact on stock prices poorly deep long lasting particularly relatively free like talking about in previous segment, should it be extended obviously, could put a dent in Economic Activity deleterious effect on earning earnings i think the picture is clearly front and Center Investors are going to need estimates put out there to be delivered on which is that of positive Earnings Growth we havent had three consecutive courts he hopefully establishment of some kind of trend positive Earnings Growth that helps to support valuations right now arent overly a demanding at the same time hardly inexpensive the consequences of rates other factors the moment helping to put pressure on stock prices maria that is what i want to ask you about price of oil, oil no doubt will be a factor in upcoming earnings season russia easing fuel export ban investors worried that oil is going to hit 100 dollars a barrel as fed tries to control price increases mark, this is a key factor in earnings, i am wondering, what it is going to say about the Third Quarter report challenge for cause, it was Third Quarter when oil shot u