he will need a lot more than that to defeat president trump tonight. biko debating against donald trump who is now running in his campaign who is fighting for himself >> that includes a big chunk of independence if i don't much joe biden can move those people or appeal to those people that is a good night. >> this debate and the selection will be a comparison side-by-side of the truck policies and their successes and the biden policies. >> joe biden is going to have to stand by his record it is a record of a everything he has to crave for the american people they don't get to retreat from. >> in order to make the best advantage of tonight he has to be mr. cohen, mr. restraint. >> if he does poorly tonight i think there'll be a widespread panic in the democratic party. >> sandra: here we go tonight's the night president biden is heading to atlanta to face off against former president donald trump on the debate stage for the first time in four years both campaigns making their final push to voters before the high stakes event. hello and welcome, everyone i am sandra smith in new york and i am so happy to introduce larry. >> larry: i'm larry kudlow in for john roberts as sandra said this is "america reports." >> sandra: good to have you, larry. >> larry: pleasure to be here who will drive off into the sunset. president biden symbol last week prepping at camp david with 16 advisors no less while former president trump hit the campaign trail connecting with voters we will see how those rep strategies play out in just a matter of hours as voters are looking for each candidate to bring their a-game. >> i fully plan on watching any of it and all of it. >> all the millions that are come across the border were you going to do with them? >> inflations a big issue. >> jobs. >> i will probably tune in just to see. >> i will absolutely watch the debate. i think it's one of the most pivotal debates in the history of our country. >> larry: we have a lineup of expert analysis over the next two hours but first up bill melugin live in atlanta right near tonight's debate stage. bill, what is cooking? >> larry, we are expecting some serious fireworks tonight. these two men are not just political opponents they literally don't like each other we don't even know if they will shake hands tonight and their campaigns already this morning have been going after each other, take a look. >> joe biden i hear is practicing a lot of one-liners. he will need a lot more than that to defeat president trump tonight. he needs to answer for his abysmal record that has destroyed our country and created more crime and chaos. >> he is obviously not going to present to donald trump who is out on his maga rallies but the problem for trump is he has to answer for all the things he has been saying at those rallies. >> take a look at this and atlanta democrats are trying to get under trump's skin the dnc bought out five billboards in the atlanta area mocking trump for his recent felony conviction in new york they say "donald, welcome to atlanta for the first time since become a convicted felon i'm a congrats or whatever" and then the trump campaign and a back on call with reporters this week says they expect biden to be very raggedy for the debate tonight given his decades of experience in the political realm periodic flesh talk about the debate rules take a look at this. is a cnn debate they will have two commercial breaks and no interaction with any campaign stuff allowed. by will take the left podium trump will get the final word that mikes will be muted when the other can speak so they cannot talk over each other. back out here live things to watch out for tonight who was going to be in the room with donald trump? he has said his vp choice will be in the room with him tonight. he has not named that person yet that is one thing to look out for a. this debate is over both men will be hitting the campaign trail. donald trump will be heading out to virginia for a rally tomorrow while president biden will be shipping out to north carolina for his own rally tomorrow. just hours away now send it back to you. >> larry: one quick question did you see one cnn yesterday apparently unveiled their microphone muting system? do you have any idea how that's going to work? because that could play a pretty big role this >> yes so it looks like they are using a system where there are little lights on the desk at the microphone in front of them. if you are cleared to talk you will have a green light. if your time is about to wrap up you will have a yellow light and if you are not allowed to talk you will have a red light and if you have a red light your microphone will be muted. of one of them tries to talk over the other one while there is a red light the viewer at home will not be able to hear anything. i believe that is an effort to try to cut down on that crosstalk and fighting we saw back in 2020. >> larry: high-technology bill melugin thank you over so much. so the economy expected to be a key issue tonight at the biden administration dismisses sticker shock at the grocery store. we have fox team coverage we have the great charles payne right here on inflation but first up we're going to fox business madison alworth live in staten island. medicine, what is cooking? >> hey, larry, we talked to diners here at annandale terrace which is a gorgeous establishment out on staten island. i want to know that they agree with the biden a administration says that inflation sticker shock is not a thing. so i am met dominic who will kindly let me interrupt his family lunch. hi, dominic. by demonstration white house saying sticker shock is not a thing inflation is not a problem gary how are you feeling about that? >> i mean has anybody tried to buy microphone? try to get a mortgage? tried to buy mike a car, food, i find that hard to believe. >> you were saying your wife goes to the grocery store? >> all she complains about is how expensive the fruit and the food is. so yes, there is a lot of inflation. >> we know inflation is increasing at a slower rate it has come down but you are saying you also that impact your bills because inflation is still happening. >> absolutely. people say all inflation is going down, great prices coming down it's not true. instead of prices going up at 8% or 9% there only couples going up 3% or 4% but they are going up and nothing is coming down. >> we have the face-off tonight two candidates what are you hoping to hear you will watch the debate, right? >> short of an outright boxing match i really wish they just would focus on the topics. don't bicker back and forth and let's hear what the plan is. >> i mean we have had these two on a debate stage before and there has been that bickering so would that have an impact on how you think of the gr two candidas so they will mute the mic so there will be that component. >> i will not affect my personally decision but i think there are too many important topics for them to get involved, just focus on the topics and stop the politics. >> want to hear real stuff, dominic, there you have it. the issues i've heard from voters like dominic, inflation, economy, border, we want to hear with those two candidates really have to say about that. center, larry i will send it back to you. >> sandra: all right thank you so much, medicine. live in in staten island talking to real people that's what matters charles payne those that host of "making money" with charles payne fox business gray tabby here it's a huge night and "the wall street journal" things it will be all about the economy with this headline for trump and for clinton it's still the economy, stupid. costly so the challenger would foster growth. this is david malpass and to his point i mean you can just point to the numbers. if you are donald trump, right? and you point to inflation under the current president versus his administration, inflation under biden up 19% under trump it was 5%. gas is up 46%, trump they were down. rent prices up 30%. 30-year mortgage, that is just that ship has sailed. >> we heard the guy in the diner who said you can't buy a house or get a mortgage. house affordability is the worst it has ever been in this cou country. that is the key i think because for instance someone may say hey, nominal gdp under biden has been through the roof. president trump, why wasn't yours as high? and the distinction, obviously, has to be when you pour billions of dollars into an economy that doesn't need it anomaly will look great in real life will hurt like hell because that's what they are saying to posters right now. the inflation bum. >> gdp is a real plus total gdp, and it's the inflation bump. and you see the inflation bump under biden 20% for 4 years of trump it was only up five or 6% max, that's all it was. it's incredible. >> again, the american dream or the inability to reach the american dream when these questions are asked over and over again to every age group but particularly younger people, gen z coming on millennials, they have almost given up on it. right? so they are stuck in rent and paying higher rent to the point they will probably never get a 20% down payment so they know this. they feel this. but one other thing the guy said i think will be really intriguing. another way, again, the media and economists talk about our economy when it comes to the word inflation. theoretically, for them, inflation comes down when it slows but as long as inflation is increasing it is increasing but i am just saying in the last 24 hours where i think the consumer is so tapped out we will see numbers actually come down a little bit between now and december. yesterday southwest airlines, this is so critical, southwest airlines everyone talks about tsa numbers, it's a boom, i don't know where people are going but they are not spending the same amount of money. southwest airlines change their guidance they say we are going to do this in metric called revenue for available seat mile, that's their key metric in the airline industry before they seat up 3.5% now it's down 4.5%. >> a lot of savings from the pandemic have been depleted. >> general mills, the serial maker, they lowered prices by the way one point for food and one point for pets. volumes crash on both of them. and then this morning, walgreens. did you see that number of walgreens? an unmitigated disaster the ceo says. >> sandra: seeing signs of slowing by the consumer? >> not just slowing the economy potentially going off the cliff. >> that's a big statement. >> did you see on this point i will go back to your house and point because i think that is almost underrated. the increased prices and let's see the home sales down about 30%. price is the highest on record going back to 1999 keeping these numbers as you all know. the american dream not available, young people pulling for trump which subplot the comic surprise a lot of people there and i want to hook that into the house thing disappointment. kitchen table stuff for the whole middle class, prices higher than wages we all talk about that the affirmatively afy crisis but housing is especially discouraging for younger people. >> yes, it is when they talk up prior generations my parents a house at 28 but old folks home dancing and they say where they dancing and it's like they bought a house 40 years ago for 30 grand and never invested in how they sold over $4 million, right? there is resentment out there. >> sandra: that's true. >> on top of that resentment thing of the last jobs report the unemployment rate for young teen workers went up six points six tenths. for black workers it went up 0.5. people say why? it always comes back to economics. it always comes back to economics. >> follow the money. >> why is biden doing better with older americans? it's not because of trump, it's the same thing. they own money markets, they own bonds. they are making so much money those same folks in those memes they are doing great. >> sandra: rich older folks by the way. the not so rich older folks are suffering on fixed income their electricity bills and utility bills are through the roof. >> anyone vulnerable to changes in inflation is suffering. >> larry: one more before i lose you business does not look great either. i'm looking at the numbers that came out today on durable goods. business investment nondefense capital goods, the interesting is core business investment down again both orders and shipments charles the last three months down 2% the last year flat to slightly lower. i mean, you were not getting the business backing off with regulations and tax threats and then consumer is backing off because it looks like they are tapped out from the inflation problem, this is not a great election year economy. >> no does not and i think a lot of these businesses are holding back now at this point. i think they are in a wait-and-see mode because it we have people saying if i win i will tax you and if i don't even more regulation so these businesses are building a buffer i believe so plus depending on the industries semiconductors, things like that, doesn't make sense to me honestly for the government, the federal government, to pay the richest corporations in the world 20 or $10 billion to build a factory here. due to tax incentives but why are we doing that? one more thing the transition in our economy for the democratic party being the party of the wealthy and the educated elite, ceo pay now 16 million on average of $4 million since trump left office. ask the average person out there if their pay has risen that much and the answer is no. >> sandra: that's great. >> center is up 16%. >> she is on more than that. >> larry: she is a star. >> some people earn it. >> i am here for tips i want tax free tips i will give you one buy loiselle high. >> sandra: that never fails you. great discussion. >> shocking claims from a migrant charged with the shooting of two new york city police officers and prosecutors say he admitted to being in a venezuelan gang that smuggles guns into migrant shelters. cb cotton live in new york city with much more. do you say how the guns were getting inside or what is the story here? >> a lot to unpack, larry. prosecutors say this illegal migrant confessed to a scheme where members of the notorious venezuelan gang smuggled firearms into city shelters by using food delivery bags that did not have to go through metal detectors. this is one of the bizarre details revealed in court this week when bernardo raul kupfer motto pleaded not guilty to attempted murder and assault charges. the nypd says he opened fire on two officers who try to pull him over as he rode a scooter in the wrong direction earlier this month. he told the police the gun was not his and it accidentally went off during the encounter. prosecutors said he admitted to being recruited for robberies by the gang in court yesterday prosecutors quoted from a taped interview he gave police. >> it is common practice for gang members to shoot at police officers because venezuelan police officers shoot at gang members for minor infractions. venezuelan police officers get shot often in my home country because criminals feel there is a chance of getting away. >> as for allegations of gun smuggling, we are told security services at these migrant shelters were given a refresher course on how to conduct more thorough searches and how to properly use handheld wants and screening bags. it now, larry, the queens district attorney questions when asked about this reported smuggling scheme. >> right now there's a lot of allegations that are being alleged we are investigating all of them. >> so he is being held without bail and do back in court in september. larry? >> larry: all right, sandra. >> sandra: thank you so much james freeman and katie pavlich are here to talk about more on immigration and how it will play out in the stage in tonight's debate and be sure to tune into fox news democracy 2020 for a special coverage of the cnn presidential debates m.o. coverage are covered here will kick off tonight at 8:00 p.m. eastern end of the debate begins at 9:00 p.m. eastern and we know that most of the country says they are going to watch this in some form. you can watch right here, larry. as i keep saying this, everybody has something they are watching for whether it's the performance of the candidates, you know, their ability to shine on the stage or the issues or whatever it is, maybe you are looking for a spectacle i don't know. most everybody in the country says they are going to sit down and watch or stand up and yell at your tv or something. >> larry: throw stuff at your tv, later. tonight's debate could change the course of the 202012 election, we have rnc chair michael whatley there to break down the stakes plus all of t this. >> it looks like a doctor walks like a duck or quacks like a duck it's a duck he's a convicted felon and that is just who he is. >> sandra: biden camp leaning into criminal charges on the campaign trail with the police docanada do the same tonight? 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or would you rather have someone who doesn't even know enough to understand the charges and be tried? and then i would pivot, larry, immediately, to a mother of five who cannot even go for a walk to a nursing student who can't even go for a jog. to a child who was raped and a child struggled to death saying look i'm not going to make this about me. i am a billionaire who can defend himself. how about the people who have suffered because of your board or your criminal justice policies? that's what i want to talk ab about. >> sandra: tray, it seems there are some urging biden to come out swinging in fact they are suggesti