Transcripts For FBC Cavuto 20240703 : vimarsana.com

FBC Cavuto July 3, 2024

David President Biden making a historic visit to michigan becoming the first sitting us president to join the picket lines one day after Donald Trumps planned visit, a report from the wolverine state. Chicago crime getting congressional attention with a hearing in the windy city but democrats not showing up. We will hear from victims who want more help. Bad blood between the irs and those who resold tickets to seiler swifts tour, the new role that could end up costing resellers. I packed our ahead. Lets get right to it. Welcome to the show. I am Ashley Webster in for neil cavuto. President biden expect to join striking autoworkers on the picket line. We have the latest as we wait for the president. Reporter hes coming. We dont know quite he is coming here or hereabouts. You report correctly. It will be a historic visit. Never been a sitting president who has joined a picket line. The white house has been trumpeting if that. We should point out President Biden says he is the most proUnion President ever. I make an argument the most proUnion President ever is the most antiUnion President ever. President reagan, president of the Screen Actors Guild who started the strike against Hollywood Studios in the 50s and then almost singlehandedly broke the air Traffic Controllers strike in the 1980s. Thats my take on that one. Biden leaving to join with john fain, they will walk a picket line somewhere. Local media reporting this will take place at the Ford Assembly plant but now appears it will be somewhere else, the parts facilities where i am right now. One of 38. They issued statements today. The first one from General Motors today say our focus is not on politics. But with the uaw leadership. Ashley your audio is breaking up unfortunately but President Biden heading to the picket lines in wayne, michigan. Hopefully we can get jeffs audio sorted out because we want to see what goes on there. The former president also heading to michigan this week to compete for union voters. Trump won the state over Hillary Clinton in 2,016 but democrats won it back with President Biden in 2,020. Can we expect a similar showdown in 2,024 . Maybe. Lets ask our panel, carly cooper is of a man and lee carter. Let me begin with you, carly. If i am not mistaken the uaw has yet to endorse President Biden. Why is that if he is the most pro Union President we ever had . Biden is here to make the case, picketing himself directly, that he really is a staunch supporter of unions. It is critical at this time that hes going to convince these voters that his Clean Energy Agenda is in line with the values and priorities of Union Workers, create more jobs for Union Workers and doing it when trump is trying to make the case that biden and bidens agenda will take jobs from these workers. This is at a point where biden knows he needs to convince voters that he always had their back and will have these people and every interest in making sure the strike ends as quickly as possible so it does not increase and impact the supplychain in a way that will impact the economy when voters are having a hard time believing the positive economic metrics we are seeing as biden struggles, voters struggle to connect with biden. Ashley those polls bear that out. The president struggling, his performance, bidenomics, and a lovely endorsement at the uaw. It is an opportunity for someone like trump or the republicans to make some ground after 2,020 . No doubt about it. The Union Movement reached peak popularity that it has in the last 50 years, 70 of americans support the Union Movement. What President Biden is doing by joining the picket line is to say i am a man of the people. Im out here with you, standing with you but heres the problem with that. When you are the president of the United States, it in the best interest of the United States to get this resolved. Its not in our best interest to have an ongoing dispute between the unions and the workers. It doesnt make sense and what president s and leaders do is work behindthescenes to help the two sides come together. What is in our best interests is get the strike over and get everybody back to work, not to see political stunts happen right now. The contrast, youve got President Biden with the picket and donald trump going to address the workers saying whatever he is going to say, i feel your pain, going to try to present an alternative view here and honestly i think the advantage will go to trump. I dont think it will go to President Biden in this movement. Ashley the biggest threat for President Biden, or risk if thats a better way, he is tying himself to the workers. If the strike goes on and starts to hurt the economy, his face is associated with it. It could be a risky move. You make a point but President Biden has staked his career on his support and staunch backing of Union Workers. He has aligned himself so strongly with these voters, this is a voting bloc crucial to his victory in michigan in 2020, the trump won in 2016 and biden has no choice but to double down on his support for these people because it is could call that he maintains their support in 2024. Ashley interesting, the president has been pushing his green agenda and part of this dispute, where do these workers stand when we transition and as per the government into the electric vehicle arena. A big concern for these union members. For someone like donald trump and the Republican Party in general that is a talking point for them. Absolutely a big talking point for them. The difference between what President Biden is talking about is the future. People concerned right now what this means for them today and next year. Whether or not the government get involved and says we are going to force the transition more quickly, that is something that could alienate these workers. Whether or not President Biden stand sidebyside with them on the picket line doesnt answer the question about how they will support their families today and over the next year or two. That is what people are concerned about and what the president needs to address and often i think in these moments, seem somewhat tone deaf to what the real issue is. He hasnt addressed the real problem so donald trump will go out and say i will address the pain you feel right now and President Biden might miss the mark. Ashley it is fascinating to follow, great discussion. Thank you for taking the time to chat with us today. I want to get to the markets if we can, the dow is close to session lows off 300 points, pretty miserable september for the markets, the dow off one , s p down more than 1 and the nasdaq down one and one 12 45 . We have had some numbers, home sales in august, disappointed newhome sales and Consumer Confidence also missed estimates by more than expected so what is going on . Lets get the read from alan, it used to be bad news was good news if you want to follow that line, it meant the fed would be less inclined to raise rates because the economy was damping down but bad news is bad news, the economy is slowing down. Is that right . You can look at it different the, the economy is so strong, we are here for longer, not higher but near the rate we are holding at this high level because things are so strong. A couple things to mention here. The good news is 1 move now is 50 points at loftier levels, with the volatility, 20 for four full months. There are some positive here, i dont want to forget the uaw. My father is a retired uaw member. I went to chicken state. And the first thing i tell you, not one person level they truck and that helped a lot of autoworkers. Ashley its most popular truck in america. Jamie dimon kind of casting a pall over the exchanges saying Interest Rates may need to go further to tamp down inflation. You think he is right. There is a pause in stocks. And 4400, and and with september. At earnings again in october. All this, record rate hike path, only 11 over the top and 7 off of the top but weve been in a buy the dip market until proven otherwise in 2023 and i still see a lot of positives. The positives are there and the fed is building rates and reduced the number of times you will cut next year. When they cut, the dollar will no longer be strong and that will help every asset class when the dollar does dive even a bit. Ashley we have to leave it there. Great information. Appreciate it come with the dow down 1 . I was the clock is ticking, the possibility of a Government Shutdown is becoming more likely. How every day americans could be impacted. We will be right back. 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Call today to request your free bond guide. 18002173217. Thats 18002173217. Ashley time winding down for congress to avoid a Government Shutdown, they need to pass a measure by sunday to keep the government funded. Aishah hasnie has more on our shutdown may affect americans. Reporter whenever theres a shutdown it could cost the economy billions of dollars. Last time in 2018 it hit us with 3 billion into the economy. This affects federal workers but it could affect you day today. Heres what would happen if the Government Shutdown. Parents who rely on head start centers, federally funded preschool classes could lose that care. Airport workers like air Traffic Controllers continue working without pay, that might lead to them walking out of work, not showing up to work and the last shutdown in 2018 cost major headaches at airports nationwide. Many National Parks and museums will close. If you had travel plans to go to the grand canyon, yosemite, you would have to reconsider your travel plans, food and rail safety inspections would stop. Highway projects that rely on federal dollars might come to a halt. And activeduty military families, start missing paychecks, so would federal authorities like Border Patrol agents patrolling the southern border. Nobody on capitol hill wants a shut down but it would be the 15th shutdown since 1980. A big blame game about why lawmakers keep getting this wrong. They are required to have 12 spending bills done and signed into law by the president of the United States and the last 40 plus years theyve been successful four times. Attornment is failing grade from congress. Reporter Speaker Mccarthy spoke to reporters and said hes moving forward with these Appropriations Bills taking a vote on them this week. He says hes going to put a continuing resolution of that would help us to buy time, he will put that on the floor. Its not a clean cr. It will include border security. Ashley thank you very much. The clock ticking. The shutdown is the only thing lawmakers are dealing with, they announced the first impeachment inquiry hearing into President Biden. That will happen this thursday. Former republican Ranking Member doug collins joins me, great to have you. Before i get to the impeachment inquiry i want to talk about the shutdown. Speaker mccarthy is between a rock and a hard place, far right conservative saying we are not going to go with another cr. Thats not how you do, we have to cut spending, than another group of moderate republicans working with democrats to come up with a compromise stopgap measure. How does this play out in your mind . Its very difficult because you have the senate sending a clean cr over and mccarthy to not put it on the floor knowing he cant have votes for that almost like it is antagonistic in. A lot of folks out there, seemingly looking at the fact, something will happen but mccarthy has landed on his feet before. They have plenty of time to get it done but they need to understand not everyone will get what they want and the concern, you have enough people saying they will not vote for acr. Ashley does that give a black eye . Both parties responsible along the line but it is the black eye for the gop because of the fracture within the party . Makes it difficult. Politically a year from an election everybody says this will be damaging politically, what typically happens is people forget especially if it is a week or two week shutdown. The vast majority of americans are not affected. What your reporter said earlier, if they dont do a set up for military pay to make of that go over at the end of may get back pay, always get paid. Most people forget longterm politically but does it show majority in the house cannot get it together . Yes. What they are fighting for, they are fighting for a smaller government, and everybody, democrats and republicans. Ashley thats very true. Lets get to the biden impeachment inquiry. Thursday, we understand there will be a heading, a foreign duck account, former assistant ag who served in the geode Doj Tax Division and law professor. What do you expect to come out of this. Democrats and the administration say its a political witchhunt with no evidence. The democrats are the same party, when i was Ranking Member of the Judiciary Committee in 2019 against donald trump for a phone call, their words on what impeachment is i have 0 faith in especially adams and others, nadler made it all up. This is a preliminary inquiry. Not and impeachment inquiry in the true sense of the word. I said this invar past, there is building evidence, they may call it and impeachment inquiry but it is still a luminary, when they can bring it in, true impeachment inquiry. This will be more framings the issue. It will frame the issue, what we think so far and believe is happening and thats good for the American People because unfortunately it is strong out the last 9 months, this should put it all in one hearing. Ashley we will leave it there, great to talk to you, thank you so much. Thank you. House speaker Kevin Mccarthy speaking with reporters on the spending fight. Chad pogrom joins us now. What did Mister Mccarthy have to say . They are in a better position than they were a few days ago trying to pass the batch of spending bills, keep in mind these bills dont refer to the Government Shutdown. All this does is build confidence with his members to move through the spending bills with interim spending bill the next few days and get the other things done. I asked Kevin Mccarthy arent you daring people to vote against the procedural vote later today. I will put in interim spending bill on the floor. Some conservative members cant vote for that and he will connect with a sp

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