tv Making Money With Charles Payne FOX Business July 9, 2019 2:00pm-3:00pm EDT
a week after losing lee iacocca. these giants who defined markets, times our politics, perot, big impact, 30 part candidate, got close to one out of five votes. that was then. remembering him later on. charles: one of those vote was mine? neil: is that right? charles: yeah. i loved ross perot and lee iacocca. you can feel their presence in today's economic and political atmosphere. neil: absolutely. >> thank you, neil. i'm charles payne. this is "making money." the dow is having a lackluster session. the dow edging lower for the third session but investors are piling back into the comfort of big momentum names like facebooks of the world and amazon doing pretty well. this as investors, all of us are waiting to hear from fed chair jay powell tomorrow. we'll have a preview, a possible outcome. after getting mercilessly
mocked, the socialists on capitol hill say let's go for it again. they are offering a new green deal. we'll discuss that in a moment. attorney general bill barr says there is a legal way to get the citizenship question on the census this year. what is it? we'll let you know and so much more on "making money." ♪ charles: newer, greener at least that is the problem is bernie sanders and alexandria ocasio-cortez teaming up yet again. they will try to relaunch the green new deal, a climate plan, declaring a there is a climate emergency. this after the first plan failed to earn even a single vote. so why should they expect the results to be different now? let's ask rick ungar, the host of the rick ungar show. fox contributor deroy murdoch. rick, why is it different this
time. >> it is not. charles: we have the all-star game. >> basically what they're offering up today is an emergency proclamation, a climate emergency. it is non-binding, just as the "green new deal" was non-binding. it is actually, from a political point of view i'm not so sure this is such great timing because now they will force all the democratic candidate to have to answer for it. i don't know that i would have done it but it doesn't really matter. charles: it feels like the democratic candidates running for president who glommed on to this, are not necessarily polling that well. inslee, his primary topic, benefit talks about it a lot. swalwell was in for a week or two. >> he is gone. charles: i'm not sure, we were told this is key issue to win the primaries with you don't hear a lot about it from the candidates. perhaps now bernie. >> we're not hearing that much about it, because it was pie-in-the-sky or maybe poison in the sky?
price tag was $93 trillion with a t. who can afford that. unbelievably ambitious. every single bidding, he have structure in the america would be retrofitted next 12 years. it would go well beyond global warming, access to food, on and on. charles: utopia. >> paid utopia. >> you're right, but there were actually good things in the green new deal. there are good things in the green new deal. the problem is you can't put that all into one bill and expect that to ever have a chance of becoming law. charles: what do you like about it? what did you like about it. >> some of the things deroy just said are good things. >> i wasn't praising them. >> i know you weren't. we do need retrofitting in a lot of cases. there is a lot of things in there that actually make sense. the problem when you present it this way you will not even get through the things at that make
sense. charles: meaning orwellian. >> iting overwhelming. i would not have introduced it. charles: the idea first go round we'll get rid of planes and cows? what the heck is going on here? >> high speed trains to hawaii. charles: that is no-go. let me get you guys excited about this. >> i was hung up, i like milk. charles: billionaire hedge fund manager, philanthropist pro-impeachment backer tom steyer says he will run for president in 2020. after he saw the first debate. i think on one hand, rick, what he is saying no one dazzled, no one dazzled in the first two nights. maybe he has to come to the rescue. >> i think he is saying something else. not that they didn't dazzle but they didn't discuss impeachment. that is his one issue. jay inslee is the environmental candidate, tom steyer want to be the impeachment candidate. the problem he got in a little too late, on number of counts.
not the least of this we're now in the second week of july. the democrats only have till latest, end of august, if they really want to impeach the president. there will not be time to have his issue of the ship is going to sail. >> that is true. not hearing anywhere as much about impeachment. not hearing about russia very much. right now the president is at 47% i believe in the "gallup poll." highest ratings. >> disapprovals are even worse. >> those are high, the popularity is sinking they would be pushing him down. the fact he is going up, markets is higher that does not create the kind of. charles: there are limits to money can buy anything. >> he made his fortune in coal. >> massive hypocrite. charles: made billions of dollars in coal. once he had it in the bank it wasn't good enough for us. before we wrap it up. one of the reasons impeachment is not talked about nancy pelosi
finally drawing a line in the sand but it heightenedder animosity against the four democrats who have continued to certify. >> the squad. charles: they call them the squad the squad ain't going anywhere. they are getting louder and louder. will that hurt your party? >> i wouldn't be so sure that all of the squad are not going anywhere. i have predictions what happens to some of those people in their next campaign. but until then, no, they're not going to hurt the party. you know, we're keenly tuned into this stuff. most americans have never even heard of aoc. >> i call them the four horse women of the apocalypse. >> i shouldn't be laughing but that is funny. >> i think they have tremendous influence. they came out with ideas. most democrats said jump on them. >> not most democrats. some democrats. >> more than they should. aoc is the tail wagging entire donkey. charles: do you feel better or
less confident after the first debate? feels like, i mean, you know -- >> i don't think it mattered that much. charles: really? >> i really don't. obviously it mattered to some candidate. it mattered to joe biden. it didn't go well. kamala harris got a big boost. charles: biden is beating president trump by smaller margin. a lot of these other candidates, feels like he is building momentum, in part, i don't think any democrats broken out. >> what do i keep telling you, south carolina that will determine the nominee. charles: south cac alaky. thank you very much. the fight for the citizenship question in the 2020 census is on. attorney general bill barr sees a way that question can happen. the supreme court blocked ask people whether or not they're
citizens awaiting better response from the trump administration. president trump working on something so hard that is so easy, that people are fed up. he called the supreme court ruling strained. joining me attorney leeza garber >> great to see you. charles: barr had massive impact in the job as ag. they have a new team who will present this, what do you expect? >> i don't think it's a surprise he is putting his support towards adding the citizenship question and really if we look back at the history of the u.s. census bureau, it has the power from the constitution dating back to 1790. charles: right. >> we get questions every 10 years. this census, the 2020 census is remarkable in multiple ways, not because of a question of the citizenship issue. it is taken on internet. it features applicability to same-sex couples. charles: what will barr say differently that the administration wasn't able to say the first time to persuade the supreme court?
>> that is good question. plus ag barr and a team of new lawyers. this is arguably a procedural one. we're looking for justification for adding the question. trump and that team of lawyers. charles: does motive matter? people are saying this is unusual for the supreme court to question the motive behind this, instead of legality an cost constitutionality of it? >> motive can be part of the lee galty. definitely part of the procedure. unfortunately might look like a little bureaucratic issue, it is not. this could definitely get passed. we may see it go up further. >> was it a mistake to tie it to the civil rights act? >> not necessarily but at this point it is not moving this forward, not moving the question forward. one thing i want to point out, i know this is a little tangential, it is becoming are people not answering anymore, will it become meaningless? the census bureau is supposed to be the most accurate count of
people in the united states. charles: right. >> the census bureau said we'll not look to criminalize people. we're not, while we could put out penalties, there is potential jail time for not answering or answering correctly. we'll not do that. the problem it is now illegal for the u.s. census bureau to receive any data on the form to any other part of the u.s. government. this stems from world war i when they were sharing data on people supposed to be drafted into the war. now it is illegal. charles: bottom line, we're talking hundreds of billions of dollars and political power at stake here. >> absolutely. charles: this could tilt elections for the next decade. it is important to get it right. interesting bill barr stepped in and says he has a solution. a lot of other things i need to pick your brain about today. future of obamacare is now at stake. a group of democratic led state, urging new orleans to overturn the texas judge ruling to say the law is unconstitutional. a panel of three judges.
one appointed by carter, bun bush senior, one actually by president trump. you have two republicans, one democrat, most scholars are saying that it is going to fail. >> there are a couple of legal issues at stake. same layers of the onion. same thing with the citizenship question, right? we're looking whether the hinging point, that question of the individual mechanism that really taxed people into having a to deal with health care, pay for health care they would be penalized. that question exists. there is standing question, the people that brought this suit, 20 ags, state attorney generals and from texas is one of them. that is one of the keys here. whether they have actually suffered hardship because of affordable care act. that is really the two issues we're going to see come down today in the hearing. charles: do you have any thoughts how the decision, what the decision might be? >> it is problematic either way. it is poe little size but we need the right solution with our country. that is part of the problem. whether this gets knocked down or not, we need something ready
in the place. charles: no doubt the legal process will continue? >> it will continue into 2020. it is definitely going to impact the debates we see, the election we see. it will not get resolved in time. charles: lisa, thank you. >> thank you. charles: later in the show we have got senator tim scott on his mission to fix some are saying which is the greatest challenge in the republican party and its survival, diversified candidates. also after the break a new cbo report finds raising the minimum wage to $15 an hour it, would lift the pay for millions, it would have severe downsides. fox news contributor jonathan morris weighs in on that, he is next. ♪ we're the slowskys.
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i'd rather not. charles: a new independent report has come good news and bad news with respect to raising the minimum wage to $15 an hour. it is the report from the congressional budget office. it says it would boost pay for 27 million people but it would cost nearly million 1/2 jobs. even worst-case scenario it could cost up to 4 million jobs.
beyond the financial debate, it shows additional studies raising minimum wage would lower depression, obesity, crime rates. dot rewards outweigh the risks? joining me fox news contributor jonathan morris. thank you for joining us. >> thanks very much, charles. charles: the cbo, there will be a big debate about the federal government raising the minimum wage. they did an an exhaustive report. it would raise wages, raise joblessness, lower business incomes and lower economic output. that doesn't sound like a good tradeoff for most people. but the other thing they did notice, jonathan, there are other studies saying going beyond the money it reduces suicide, obesity, crime, increasing job training, it could improve educational outcomes. >> right. charles: as a nation, how do we grapple with something like this? you put these on the scale, it is pretty hard to judge.
>> we'll be hearing so much about this during the presidential election, and the democratic contenders, because the economy is going so well, are going to say the only way to win this, i would agree with them, the only way to win the election is win the moral high ground. even though things are going well, economically, socially, politically, culturally, we're a disaster. that is going to be their argument and this example of the 15-dollar minimum wage which all of the democratic contenders are pushing for, they're saying, this is the right thing to do. so we have to ask ourselves, is it the right thing? they say, living wage. everybody deserves it. i would say yes, everybody deserves the opportunity to make a living wage. i worked at mcdonald's for maybe two weeks in high school. i think my dad told me i wasn't allowed to work or something after that. in that case i was not making a
living wage but i wasn't supposed to. it was a starter job. charles: right. >> my nephew here in cleveland, ohio, he is working eight dollars or $10 an hour landscaping job for the summer. that is not a living wage but it shouldn't be. it should motivate him to keep going after something more. so it is not as cut and dry, hey, $15 is the only moral correct argument here and anything less is just bad. charles: sure. i they think, this is what the cbo report says, there are consequences when you force this on people, including businesses. same people living in poverty would pay higher prices for groceries. the same families with two or three people in a household making minimum wage may see one person losing a job. maybe they are the unintended consequences. maybe it's a political point. i want to focus on that.
we do feel like mostly in politics these days, we see fingerpointing and central issue is, the moral higher ground and how you judge that. >> yeah. i think an example was kamala harris just the other day, to a large crowd said, hey, they say that you know, everybody, there is all these jobs out there but you know what? people are having two or three jobs in order to make a living. we don't want that, we want one job which is a fair and just living. yes and no. a lot of people do amazing jobs with two or three jobs. they make an amazing living. we do have to make sure that when people are taking all of the initiative to get trained, to get the education that they possibly can, that they're able to have that opportunity. charles: right. >> to be able to make a great living for their family. charles: right. >> that has to be the basis of
this argument. opportunity. charles: we have less than a minute, since you left the priesthood, jonathan, what have you been up to? >> i'm living in cleveland, ohio. first time living back in the heartland of america when i left 17 years old overseas. to new york. so good to be here with family and with friends. i'm enjoying, continuing to contribute with fox and looking at a lot of other opportunity. charles: you know, we missed you. we love you. can't wait for you to come back to new york city, to talk some more. thank you, jonathan. >> thank you very much, charles. charles: homeland security asking for 1000 additional troops to help with the border crisis. one texas congresswoman blasting the that they are part of a coverup at bored he patrol stations. we'll talk to art cueto about this next.
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charles: list of complaint growing on how to handle the crisis at the border despite passing a $4.6 billion bill last week to address the issue. infighting how much to spend on border detention centers. some on the left accusing our government lying about holding facility conditions. >> we now have an official coverup by the department of homeland security. i can frankly say that this will not bear well in washington. it is an outright disgrace. charles: here now to break it down, what is really happening at the detention facilities, national border patrol council art dell cueto. that is serious allegations by the congresswoman against your organization, art. how do you respond? >> what i come out here i'm representing the border patrol agents. i'm not representing the agency but i can tell you it is getting
pretty old, non-stop hammering, hammering on border patrol agents and hammering agency on this everyone will start throwing any accusation that they want because they're able to get on the soapbox to say something. we've been talking about the conditions of these holding facilities for quite some time. they have been asking for funding for quite some time. now that some funding has been given, it is broken down on where some of that funding will be going. everyone wants to know exactly, what is it you're going to do? it is getting old. seems like any one can throw a allegation whenever they want. it is pretty ridiculous now. charles: listen, we know that you're overwhelmed. this, no administration, whether it was republican or democrat in this place right now would have been prepared because the facilities are just not there, the manpower just isn't there. to be frank the sympathy with the border patrol is that
congress, instead of hurling these sort of accusations, should be trying to find solutions. what do you say to congress with respect to their role making this better? >> you know, honestly, you said it best. if they, if, they keep on just throwing accusations not solutions. if they spent half the times that they're coming up with these conspiracy theories and these allegations, if they spent half the time making a difference, maybe things wouldn't be as bad as they are. we've been talking about how bad conditions are for quite some time. congress needs to change laws. perhaps the holding cells would not be so full, if there was a way to fast track some asylum claims f there was a way to see which asylum claims are real, which ones are fake. bottom line they need to start closing some of these loopholes within immigration itself. charles: i read today that in the last month apprehensions dropped dramatically, close to 30%. is that a sign perhaps, that the
mexico intervention on their southern border is helping? is that something that you think could be, maybe we've hit an inflection point? maybe this will start to ease a little bit? >> no. it is definitely important and definitely shows that you know, some of the policies and, you know the talk that president trump had had has shown and it lowered the numbers. now mexico is helping. makes you wonder what they were doing before though. realistically we're at a point, showing some numbers are down but still what people need to not lose focus on, they're still a number of individuals that are getting away. so you have people turn themselves in with the false claims. some may have good claims. remember, some are not the greatest. those individuals are getting released. we don't see from them or hear from them in the court system but at the same time let's not forget of those individuals that tried to evade detention, evade arrest and are getting through. charles: it is complicated. we hope it gets better but we'll
keep bringing you on because we always appreciate your discussion. you're a straight-shooter. good luck with everything down there, art. thanks a lot? >> thank you so much. have a good day. charles: hey, folks, jerome powell has investors ahead own yesterday's, tomorrow's testimony on capitol hill t begins tomorrow and the next day. powell needs to make clear his intentions not just for investors sanity but the fed's own credibility. we'll have a preview for you. ♪
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19996. he founded his company in electronic data systems with $1000. he died after a fight with lukemia. ross perot was 89. ruling against the trump administration about the requirement to list drug prices on tv ads. the white house is searching for a way to stop skyrocketing prescription costs. boeing's stock doing a quick reverseal after president trump tout as deal with qatar for their airplanes after terrible sales numbers in june. the numbers are very weak. boeing reported no sales of its grounded 737 max jets. the federal reserve in the hot seat. jay powell, especially of course he will appear in congress tomorrow and thursday. the markets are getting anxious because no one knows what the fed will do with respect to rates. powell under extreme pressure from president trump who made his displeasure well-known. what exactly can we expect? more importantly, how will the markets react?
hear to weigh in, liz young and optimal capital director of strategic strategy, francis newton stacy. let me start with you. i think a lot of this is unfortunately jay powell's fault. going back to october 3rd he made a comment that started the market lower. he made perhaps some moves that, not just president trump but the markets think are wrong and he hasn't been an effective communicator. so now wall street is thinking rate cuts at the end of the month but a lot of experts are saying why? >> what we have to remember, it is not necessarily about pointing at who is at fault or what the cause of it was, the market is so sensitive to policy right now. as much as we want to pretend we're sensitive to trade, all the market is watching is the fed. every time we have a little bit of bad news the market loves it because it means the fed might cut. if we have good news what happens with the jobs report last friday the market doesn't like it so it looks like it will
not get his wish. it's a little bit of hanging on every word he says and i think we're probably overanalyzing some of it and the market doesn't know what to do with. >> to that point the fed sent their report to congress pursuant to the testimony tomorrow. the part that caught my eye, monetary policy, at the june fomc meeting however the committee noted the uncertainties about the global and domestic economy outlook increased and a lot of muted inflation pressure. the committee indicated it will act appropriate to sustain the expansion with a strong labor market and inflation near its systemic, symmetric, rather, 2% market. feels like jay powell is essentially saying i will keep the expansion going no matter what. wall street is expecting, a lot of wall street is expecting a so-called insurance cut. >> yes, true. jay powell doesn't want to look like he is pandering to the
president and doesn't want to look like he is threatening markets. the markets price ad rate cut in july and that is dangerous. he hasn't said anything about the balance sheet. we're reducing it 15 billion a month. charles: weren't they letting it lower itself from the 50 billion in september, something like that? >> we're doing 15 billion a month until september but the thing is you will not cut rates reducing the balance sheet. the one is putting your foot on the gas and the other is putting your foot on the brakes. you will not negate your own tools. rates are not that high. if you want get bang lowering 50 basis points. you have to stop reducing balance sheet. otherwise -- charles: you're say nothing, it won't happen this month? >> only thing if he says we're stopping balance sheet reduction, we're lower a quarter point. that will be like a double rate cut if they stop the balance sheet reduction. charles: that might suffice instead of 50 basis points we
were hearing going into the jobs report. liz, it is interesting, you're saying don't worry about the blame game but wall street has to trust the federal reserve and jay powell worked hard trying to say you can trust me, i've got your back. i will not let this economy fall into recession. he has talked about an ounce of prevention on more than one occasion. so he will have to live up to that or i think fed credibility, which is their biggest tool in my mind could be gone? >> let's back up a little bit. are we falling off a cliff? i would argue we're not. there was a little bit of a scare in the jobs data from may but we recovered that from last friday and got much better data. a lot of positive outlooks that anybody had coming into the year were predicated upon a strong labor market. so that bad jobs data was spooky for most of us, but to see it recover, we still have a strong labor market, we're starting from a really high point. not as if we're teetering on the precipice of disaster that he has to say anything. charles: rate cut or not this
month. >> i don't think we see a rate cut all year if we continue at this pace. charles: really? the other thing looming large is earnings season. the street is bracing for a real awful earnings season. it is tough comparison to last year in general. impact of earnings on this market? >> unfortunately earnings are having less of an impact than they should. earnings are a big fundamental factor for equities. that is what equities should be watching, reacting to. we're coming into the quart expecting negative 2.6% growth in earnings. average earnings growth is 6.2%. to expect negative 2.6 is pretty bad in the grand scheme of things. the market doesn't seem overly concerned. charles: all right. >> we're entering a profits recession. wages are coming up, putting pressure on margins. the strong dollar is putting pressure on margins. so you will see a profits recession that will weigh in on equities. comparisons from last year are
almost impossible to take out. earnings peaked in 2017. so they're down. we peaked in 2018. we're behind them in the cycle. i'm sure that is what jay powell is watching. charles: i hope we don't continue to follow in the cycle. thank you, ladies very much. senator chuck schumer signaling to use plan to use the world cup soccer champions for his agenda and push mitch mcconnell into a corner. i will explain. baseball gets the best to show off their talents in tonight's much anticipated all-star game. we'll have a preview for you next. ♪ i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope.
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and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of min. charles: the best of the best hits the field tonight for major league baseball all-star game airing on fox. our own connell mcshane live in cleveland with a preview of the game. connell? >> hey there, charles, good to see you. there is always a lot of excitement about a big event like this. there is this year in cleveland as well. a little bit of a debate has begun or continued here at the all-star game about the future of major league baseball, in some ways about whether you can too much of what ordinarily is considered a good thing. home runs have been flying out of major league baseball stadiums at a record pace this
year. there is a debate whether it is because of the ball. i'm holding a official major league baseball in my hand. there is talk about whether there is something different to allow it to fly through the air with even greater amount of ease than in the past. justin verlander, one of the best pitchers, starting the game for the american league may have had waves yesterday at a media event, he said the ball is juiced in his opinion. he called it a joke. i'm cleaning up his language, highly critical of major league baseball. we got a little bit after funny take on the same subject, when we talked to another veteran pitcher, c.c. sabathia, pitched for years here in cleveland. he is with the new york yankees we asked him about that, whether there are too many home runs. here is what he said. >> he said you can't have enough home runs in baseball? >> i'm with them. good wit. >> as pitcher no problem? >> i'm on my way out. it don't matter for me. as a fan i like to watch
offense. >> there you go. cc, as a fan telling our producer dan, he would like to see the home runs flying out ouf the park. we'll see whether that continues tonight. last night, great show, pete alonzo from the new york mets winning the home run derby in progressive field against vladmir guerrero, jr. a lot of young talent will be on display. alonso, cody bellinger, a number of others made their way into the stadium. it is on the fox network, 7:00 p.m. eastern, they will start the first pitch at 8:00. john smoltz will join us with his take on "after the bell" with some of those issues. too many home runs. charles: too many home runs. another controversys the format of the home run derby, saying vladmir that he got robbed. i kind of agree. >> he put on a show. charles: certainly did.
>> especially the first two rounds. that was crazy. charles: should be cumulative i think. connell, always get a tough job. feel for you, my man. >> someone has got to. charles: senate minority leader chuck schumer is calling for the senate to pass the equal pay bill the house already passed after the u.s. women's national team won the world cup. schumer said soccer star megan rapinoe accepted the invitation to visit the senate after saying she would not visit the white house. here we have kristin tate and hillary vaughn. hillary, you're been following the story. where are your thoughts about the politicization of this? >> it is becoming very political. obviously the democrat are trying to use this pushing equal pay legislation through the senate, pressuring senate majority leader mitch mcconnell to take up the amendment that the house passed.
what is interesting, we've been talking to lawmakers in the hallways all day long. i talked to several republican senators who say they don't have a problem with looking at this equal pay issue for the u.s. women's soccer team, making sure they are being paid equally, for equal play time compared to what the men's team is bringing in but one important fact about all of this, it is really hard to figure out how much revenue the men's soccer team brings in versus the women's soccer team. not only do you have different pay scales, the women's team is paid based on salary. the men receive bonus, based on wins and losses for each game. you have sponsorships sold as bundle. they are not divvied up between the women's team and the men's team. it is hard to figure out if there is a pay discrepancy, how great the discrepancy is. charles: kristin,, i hard to take the situation with the u.s.
women's soccer team, more successful than their male counterparts and layer it over the equal pay for women, right. >> players often forget their job is not just to be successful on the field kicking a ball but bring in revenue, merchandising sales, licensing rights. right now men's soccer is more profitable and popular than women's soccer. this is what drives pay. to earlier point, charles, it is really sad sports in general have become hyper political, not just soccer but football as well. sports are supposed to unite us. americans want to watch a game, relax, disengage from the divisive political environment. but i suspect in the long run the politicization of women's soccer could hurt the growth of this sport and popularity. look at the nfl ratings, dropped
8% last year after players staged protests. espn has seen ratings tank after the network went political. charles: right. >> it is really sad we can't all come together to enjoy the sports the everything has to be political today. charles: yet, hillary, you wonder if the trend will get more profound. it is just not athletes who are willing to join in and politicize, join in a political debate but more and more companies are also weighing in. >> yeah. i think another interesting point to bring up about the politics of all of this, the u.s. women's soccer team, particularly soccer star megan rapinoe has made the white house her nemesis, saying she won't go for a visit even though they are representing the entire united states but the president himself on camera said he would like to look into adjusting their pay, if there is a pay discrepancy between the women's team and the men's team. so there has been a lot of political rhetoric that is demonizing republicans,
demonizing the president in the white house but they have all spoken openly they want to take a look at this issue. if there is a pay difference between the two, it should be rectified. charles: i hope there is invitation and i hope some players accept. it is a victory for america. it's a time we all simply should be celebrating. hillary, kristin, thank you very much. we appreciate it. >> thank you, charles. charles: at the top of the hour we talked about the democrats lurching to the far left but the republican party facing some of its own problems. criticism that the party is really a party of white males. now senator tim scott is on a mission to fix that. he will explain his efforts to recruit black and hispanic conservative candidates. he is next. ♪ i'm really into this car,
charles: the only african-american republican in the senate, tim scott, working to diversify the republican party. the south carolina senator is the honorary chairman of a new nonprofit called empower america project which encourages and promotes black and hispanic conservative candidates for local and statewide offices. the project also aims to educate the public about conservative candidates and senator scott joins me now. senator, thanks for joining us. >> thank you, charles. good to be back with you. charles: a daunting task? but one that's long overdue. explain it to the audience for
us. >> really, if you believe in the american dream, if you believe in capitalism and free markets, if you believe that every single zip code in this country should have quality education, you believe as we do. the bottom line is the empower america project actually believes we can attract like-minded candidates from diverse communities and our goal is to make sure we do just that. this is a great time to attract conservatives who happen to be minorities into the party. charles: well, i have these conversations, i have a lot of friends over for july 4th and you know, when we talk, we have these discussions, senator, everything they say goes along the republican ideology except they hate republicans, right. and you know, i have a buddy whose business went under because of cheap labor, lot of illegal immigrants. he had a business cleaning buildings in new york city. it went under. he would still say he would never vote for a president trump in part because of his immigration policies but there's been so many decades of
demonization of republicans, how do you get candidates to stand up and weather the criticism they're going to get initially? >> yeah, i think the best thing to do is not to try to force people to become republicans or tell them they should leave the democrat party. we should ask people to align with their values. our party has done a very good job of the empower america project is not about attracting more folks to the republican party. it's getting people to align with their values system. classic example, if you look at the success over the last couple of years, what you will find is that the economic opportunity agenda that has been the focus of the last few years in congress, we have seen a lot of progress in seeing wages go up for the lowest or the poorest 20% in the country, have seen the highest economic activity and the highest wage gain. you think about criminal justice reform or the hbcu initiative i started or the fact we are looking at affordable housing, executive order on affordable housing, we consistently and
continue to see a focus on the most fragile folks economically in this country. that's part of the conservative heartbeat. we need to make sure we focus on that. charles: i've got a minute left but i want to ask about financial literacy. you tied up with the student loan modernization act with joe manchin. amazing effort to change the lives of people. >> you think about the return on your invested dollar, when i graduated from college i had several thousand dollars of student loans. the good news is that several thousand dollars in student loans translates in over a million dollars of lifetime income. so what i want people to do is have a better understanding and appreciation for what do you get for the dollars that you invest early in your life, early in your education, how does that translate into future earnings. it's a positive, powerful tool to recognize the advantages or disadvantages. you can certainly go through technical school or get through a program, become a welder and have a six-figure income. our goal is to make sure you
have the tools necessary to make decisions. charles: senator scott, i always appreciate all the work you have done and i appreciate you sharing it with our audience today. thank you very much. >> thank you. have a great day. charles: liz claman, market moseying along here but moving a little higher to your hour again. liz: i know. so we are looking for anything, did you catch that one line where president trump tossed out that one particular stock at the end of his talk with the press? charles: yeah. it's a stock i think turning this thing around. i think it was boeing. liz: it was boeing. he kind of dropped it so i immediately was watching boeing stock and at first it was down to flat, then it immediately turned higher and then it's kind of lost some of that. that's what we have seen, folks. the president mixing diplomacy with deals as he hosted the emir of qatar. the emir just departed the white house after discussing security issues in the middle east, namely iran, but president trump's economic announcement stole the show. executives from boeing, ge,