tv Cavuto Coast to Coast FOX Business December 30, 2022 12:00pm-1:00pm EST
signing a massive $1.7 trillion spending package he has now signed into law 5.8 trillion in spending for trump senior in adviser and i want to get your reaction to all of this spending. >> i'll start with that. i've never seen anything like this and fiscal policy and i think biden has probably the most financially reckless president we have and you can't blame this one and joe schummer and pelosi and the republicans were in on this heist. from a political perspective i've never seen conservatives and conservatives and the green
new deal. edward: the green new deal was $7 trillion in spending and the president has almost $6 trillion in spending that he's done as they're agenda just succeeded. >> i don't think anyone would have ever imagined and they saw covid as a opportunity to really open the door for opportunity and liberal programs and massive green energy and green new deal and they use covid as an excuse for this massive spending bill. the real challenge now in my opinion heading into 2023 is how do we drain all that money out of the economy and marcus. he's exactly right. we've put so much money into people's hands and i call it helicopter money.
dropping $100 bills out of windows and it's been really difficult for businesses still to this day, three years after covid hit, to get work epis back on the job. we're paying them not to work. >> edward: right, so the federal reserve had to raise interest rates and almost all the spending, $6 trillion is that a head wind to what the federal reserve is trying to do? >> you better believe it. i was nominated to be on the fed by tram and didn't make it through the process and all you have to do is pull back that and has been completely behind the curve on this and it's going to be transitory and the good news it's down from 9.1% this summer in terms of inflation rate to 7.1% now. that's some improvement and energy -- edward: there's cheers from the white house.
7% inflation is a huge pain and burden on the american consumer. >> the navigation and it's the hard part is ahead. going to 9 to 7% is high and inflation target for the fed is 2%. that's where we need to be, 2%. that's a long way down. the idea that the fed has to be done with the lyrateds with raising rates is not simply true and they'll have to do at least two more but they need help from congress, edward. that's your point. if you've got the fed spending -- federal government spending all this money, the fed has to keep trying to raise the rates to soften the money up. edward: has it prolonged the rate increases or made more from the government spending? >> no question about it. you have the fed trying to take the money out of the economy and what's congress doing? they're putting more money into the economy, they're acting across purposes and i think it's going to take both.
it's going to take fed rate increases and it's going to take some real -- i mean, you got to sort of take a chain saw to the budget. i recommend the recommends in the house, i met with them last week, you got to take about $1 trillion out of the budget. that sounds like a lot of money, but compared to $6 trillion, it ain't that much. edward: looking to 2023, i want two predictions for the market, sitting here a here from now, what do you think? >> number one, all your viewers, i'm going to tell you i don't think the fed will come anywhere close getting back to the 2% target of the fed. i think inflation is going to come down, edward, but i don't think we're going to see inflation anywhere near that. we'll be at 4 to 5 to 6% range and that's a big burden to consumers. now the good news s i do think you're going to see by the second half of this year, i think we're going to come out of this economic malaise that we've been in now for the last two years. remember, the forest half of 2022 we were in a recession, i think we could be in a recession in the first half of 2023, but i think by the second half of the
year hopefully we'll come out of this edward: let's hope. steve moore, i appreciate your time in person. >> not in front of the white house. edward: thank you, steve moore. billionaire cofounder from home depot blaming socialism for capitalism. "i'm worried about capitalism, capitalism is the basis of home depot and millions of people have earned this success and had success. i'm talking manufacturers, vendors, distributers and people that work for us who have been able to enrich themselves by the journey of home depot. that's the success and that's why capitalism works. nobody works and nobody gives a dam, just give it to me, send me money, i don't want to work. i'm too lazy, i'm to fat, i'm too stupid". those are his words, n not mine. i know gary calpont has something to say.
>> i love bernie marcus, simple as that. my biggest problem with socialists are socialists and only money in our lives and quite the capitalist with money in their lives and it's one big giant con game for them having booked -- making people believe that without them, their lot in life will never ever be good and it obviously sells because they keep trying to sell it on a daily basis and if i want to learn and grow, i want to listen to a bernie marcus and not the bernie sanders that are out there. edward: should the american rescue plan, which paid people not to work through september of last year, set off the dominoes that made it difficult for companies to hire workers even through the rest of the year. >> the more government intrudes and the more government gives away, the worse it is. success, hard work, sweat, toil, upward mobility and you never
hear those words from socialists because upward mobility are success of the enemies of these people and unfortunately they've got a great game in dc, they have an open spigot to hand out as much as they want and they've got executive orders through congress on many occasions and if you get paid $50,000 to sit on your rear, why do i need to get a job that pays $50,000? i think they've perfected their craft and you're seeing it in droves and bernie marcus, i'm not sure the whole world is like that, but i think we've been heading towards that and bernie marcus is onto something. something. edward: how do you change that mindset then? >> you've got to get government out of the way? >> i believe in safety nets and i do not believe in the end all be all to pay people the amount
of money they'd go to make work and i was here in a couple days and don't need $15 minimum wage and $60, $70, $80 checks and i'm thinking to myself a lot to stay home or why would i go to work? it's all about government. too much of them, not enough of us and it's something i've been saying for years and just gets worse by the year. edward: gary, last trading day of the year and stocks on track for worst day since 2008 and down another 100 points today and here's your chance for big predictions for 2023. >> i've been a bear and i have no clue what will happen by the end of 2023 and i prosperity your viros -- promise your viewers this, every bear market
in history has ended and every bear market, 100% of them have turned into a big bull market and we'll eventually have one again. i think probably it may start in '23, not sure and the job for every viewer is pay attention to those companies that are growing 50, 100% a year and new yearly high list, the ones that show up first usually are the ones that kick you know what for at least a year or two. that's what i'm preparing for right now, and i'm just waiting for the doubles, triples, five baggers and ten baggers to come because one thing you can't stop is the progress of capitalism and it isn't always around.
edward: travelers stuck in airports for without luggage and hundreds of bags might be out of sight there, reporter: thousands of passengers whose baggage is anywhere other than where it should be. that's added to frustrations and delays and cancellations that a lot of folks are experiencing. >> we received one bag with the flights before the bags were missing. >> they told us, don't worry, your bags will get to dallas before you and i was like that don't really make sense but when we got here, our bags wasn't here, we had a connecting flight in houston and been here for three days with no clothes. >> if you find your luggage inside this mess behind you, you just won the lottery.
reporter: the department of transportation issuing a warning to southwest to do right by its passengers or else. in a letter to the airline ceo thursday, secretary pete buttigieg wrote no amount of financial compensation can fully make up for passengers that missed moment withs their families that they can never get back and department uses fullest extent to hold southwest accountable if it fails to adhere to promises made to reimburse passengers and southwest expects operations to continue to improve throughout the weekend as folks start to head back home for the holidays or at least try to. we'll see if these normal operations continue throughout the weekend. edward: yeah, taking too long in chicago.
a suspect was arrested and brought into custody over the murders of four people in november. brian christopher is a male in his mid 20s and apprehended in scranton, pennsylvania, at 3:00 a.m. and sources are telling us that coberger is a student but not at the university as the victims and he's made his first court appearance and moscow police department will be hosting a news conference at 4:00 p.m. eastern time and we'll have that here live on fox business. meanwhile, startling new numbers showing even more dire crisis at the southern border. the fate of title 42 policy projections remain uncertain. some in congress are now pleading with the white house to step up. cat mckormick is here next. ♪
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and record high number of crossings since october 1. what do you think about this situation? >> well, this might go down as one of the greatest issues in history in the biden administration and trying to remove title 42, the public health directive at the border we're able to expel people back to their home country and chinese nationals must be tested for covid and ongoing public health emergency. there's a public health crisis and humanitarian and playing out on the southwest border killing 300 people here in the united states a day. edward: congresswoman, why do
you feel like president biden doesn't feel any pressure to change the situation because of the crisis. >> i've bye been on the house fr and democrats approach me and say, listen, i agree and i know there's an issue on the boarder and we're feeling it in my district and these are people representing districts all over the united states and saying the fentanyl crisis is really hurting our communities. we've got people here that just don't know what to do and enough resources but if they speak out, there will be political retribution for them and behind closed doors, there's incredible pressure, even obama's dhs secretary said 2,000 a day was a crisis. now we're on average 6,000 to 8,000 a day. with title 42 going away, that could go up to 18,000 a day. edward: if he's feeling pressure, why isn't he acting?
>> because i think he has to have one point or acknowledge this 100% is on the biden administration. it is dereliction of duty, negligence but above all it's unacceptable. if we continue what we know is the technology and wall or it'll acknowledge he stripped away for policies to secure the southwest boarder and data does not lie and he can be a data denier for as long as he wants and he'll catch up with him. he'll have to answer for that. edward: the president signed a
$1.7 trillion omnibus bill yesterday and $60 million for hiring border agents and $100 million for expenses to shelter people crossing the border illegally. are priorities mixed up here? >> well, and let us not forget that biden signed this bill from the tropics, the u.s. virgin islands to be exact where that bill, all 4,000 plus pages had to be flown to the island where he was staying at taxpayer ex-pension so i just want to make -- expense and i want everyone to be aware that's where he signed the 1.7 trillion and you talk about additional funding in here. he's saying the quiet part out loud that, yes, we need more agents. we need force multipliers and resources and you have to ask yourself at what point will you give a policy to our agents that they can uphold and that's the number one thing i hear from agents is they need a policy. the second thing is is what message are you acceptabling to the cartels, people that are trafficking these individuals across the border. if you continue to build soft
sided facilities and expand the footprint along the southwest border, you're saying to the cartels and send people over and we'll house them. it's the wrong message and quite frankly i've called biden the trafficker chief instead of commander in chief and what's working with the cartels. edward: how do you get fiscal responsibility when it seems republicans and democrats are voting for some of these spending bills? >> i can tell you as a first term member of congress, it is probably the most frustrating thing that i've ever done in my life but at one point in time, i was homeless if that's any indicator, it's very, very frustrating. what we have to do is get government out of the way. that is really at the root of it. the democrats want depend seizure disorders and control
agenda that -- dependency and control agenda for its programs and republicans, our goal is to reduce the footprint of the federal government. people have the came capability and responsibility to make these for themselves and not some bureaucrat in the basement and stopping the spending and cut programs and reduce the footprint. if we continue to grow about $60 trillion ask when we become insolvent and that's going to be a very, very troublesome day in our republic. we've got to be serious about cutting the spending and recognize that the government is not the answer to every problem that we have. thank you. high food prices are here 20 stay and fourth generation dairy former warning that 2023 could spell a difficult year-over-year.
edward: our next guest predicts farmers will face a challenging 2023 with food shortages and higher prices. stephanie nash joining me now. why do you believe 2023 will have these challenges? >> they're very important with our import and export and bill gates, singapore and china investing into the food, let me tell you something, they're trying to bring in a fake meat processing plant and the last ten year when is you look at oat
milk, almond milk, beyond beef, these companies are a big threat to agricultural and i'm not telling you this because i'm a dairy farmer. i'm telling you this because the marketing is big manipulation on the american people for the products. we as a country have forgotten agriculture and who feeds us, and we need to sustain our food security and i'll tell you right now, the biden administration, this green new deal is attacking us at our core, regulations are higher, feed costs are higher for family farmers and ranchers, and this is going to attack the american people at the grocery store. edward: as a dairy farmer, what do you produce? >> we have milk and cheese and creamery and produce ice cream for the local communities. edward: so no doubt you're dealing with the increased prices for all of the products and you've got diesel fuel somewhere around $4.60 a gallon
right now. what other things have you seen in a troubling 2022, i'm sure, for your farm? >> fed cost was a big thing in 2022 and facing housing developments and people don't realize tennessee is growing and nashville is growing, and i really want to work with farm bureau and the usda across the nation to understand the importance of keeping orlando water availability. there's been an attack on people moving into rural communities and not understanding we're taking resources to be american grown and sustain food supply and what's on the grocery shelves for american people and looking into 2023 and what has happened in 202t the best thing we can do is protect our land and water availability. edward: thinking about farmers, you don't think about the federal reserve but the federal reserve has also made it difficult with the things they have to do to handle inflation, haven't they?
# jowski yeah, looking at federal reserve and even the land bureau management, there's a big push for federal land take over family owned farms. so what happens when the federal government takes over land is it just sits there. they don't do anything for it, they're continuing to bring in beef from other countries and brazil up 57% and mexico up 12% and i'm asking the biden administration how are you supporting american-grown and supporting us as family farmers and ranchers and future of food security here in america. edward: what do you need and what's your message for the president and what are you asking for? >> my message is to bring in family farmers and ranchers from across this country. there's a lot of vocal men and women in the country that want to be in washington dc, that want to fight on the front lines. we've never had the opportunity to be invited by the white house, many presidents, not just
the biden administration, to be a voice for our industry. we have politicians and activists and celebrities telling us how to do a better job, and we as family farmers and ranchers do it every day and know the struggles and what regulations are hitting us the hardest. an invite would be nice for us as family farmers and ranchers to advocate for ourselves and for the future of our food supply here in america. edward: you can hear the frustration in your voice, stephanie. i appreciate you joining us and hopefully 2023 is a much better year for you and all other farmers out there. appreciate it, thank you. governments across the world debating how to react after china lifted their covid zero policies. fox correspondent hilly vaughn live with the -- hillary vaughn live with the latest. reporter: hi, edward. china drops its zero covid lockdown policies, the world still doesn't know if they can
trust china to let them know if there is another bad outbreak there. so italy has started testing all travelers for covid from china, the country tried to get the european union on board but the eu rejected plans to do that. here in the u.s., testing for travelers from china will start january 5 president biden approving of the tests environment even though in the past he called trump's travel restrictions targeting china xenophobic. >> this is no time for donald trump's record of hysteria xenophobia, hysterical xenophobia and fear mongering to lead the way instead of science. reporter: some med cat experts are skeptical that testing is enough to keep bad straining out of the potential outbreaks at bay. the new rules require a negative covid test two days before traveling, which means someone could test negative one day but be positive two days later when boarding the flight to the u.s..
republicans say this is a charade because right now there's no mandatory testing at the southern border happening. >> i think of the bind administration to enforce the policies of the chinese coming in se to new york city but not any one of the 160 countries that people are derived from coming across the southern border and no restrictions or policies there and people coming across with covid, whooping cough, mumps, measles eradicated diseases and we're doing nothing about it. reporter: republicans don't think this president biden has done enough to get to the bottom of the origins of covid-19, something they say will change when they take control of the house next week. edward. edward: since i have you and it's the last show for the rest of the year, what's your resolution for 2023? you have one? reporter: i think to be a good parent. we're expecting a baby girl at the end of january. starting off the new year with an addition to our family, which
edward: you can add paypal to the list of big tech companies accused of censoring customers. fox business grady trimble has the details. grady. >> hey, edward. conservatives say they're unfairly targeted by the likes of paypal and other big tech companies in the case of paypal, they're accused of suspending accounts of people based on the content that they've shared. >> what happens is the payment processers like paypal will say we're just -- we're not going to
process payments for you and that means as a practical matter as a business or nonprofit say in december, which is your big fundraising time, that's life or death for you. that can mean you'll not sur survive. edward: there's been a lot of alleged big tech censorship in the past year and go fund me block add fundraiser for the freedom convoy truckers protesting covid mandates in canada. >> rnc suing google for sending e-mails to spam and gmail. looking ahead to 2023, it could be the year that big tech loses some of the protections that allow those companies to be the aarbiters of online speech with very few legal consequences and two cases before the supreme court challenges section 230, that's the 1990s law that shields social media companies from getting sued over third party contend on their sites. one suit that scotus will take up is youtube's algorithms of spreading terrorist content.
the other argues twitter didn't do enough to block terrorists from using the platform. >> they been so focused on basically taking conservatives off the platform but they've lost track of terrorist content, and we've seen a massive proliferation of kind of extremism occur without any content moderation and making sure it stays off the platform and so essentially there's a misuse of resources. >> there's a lot riding on the supreme court cases edward: thank you, grady. back on this is gary management and fox news contributor also. this is a dangerous slope because of who decides what content deserves to have access to payment thought you're out of
there. i read one where they shut down a new site because they basically agreed with lockdowns and the horror that somebody had an opinion on something whether you agree or disagree. i'm stunned. when we started reading about this, i thought it was being reported by the onion that a paypal that's just, you know, you're doing business through them would do something like this and my message to paypal is your stock down struggling $310 to $70 and lost $350 billion in market cap and maybe you want to concentrate on your business and not these other things and most people, life is about opinions and we wake up every day thinking about something and leave be, leave things alone but no, we're seeing it in too many places, too many companies feel their omnipotent because they became so big and hopefully we get on to the other side. edward: and they could be
distracted too and leads me to another point is the government needs to step in and break up massive tech companies and paypal still owns venmo. >> we've heard about breakups for years and years and they just never happen. it gets threatened all the time, companies get threatened and pay fees and fines for something and i don't see it happening and hopefully smarter heads prevail and they start recognizing it is their bottom line and not their bottom line and not what somebody's opinion is and paypal stock destroyed over the last year and facebook the same thing and maybe the market is onto something that they're not understanding. edward: right and speaking of destroying stocks one of the worst of the year is tesla and shares of the electric car company are down nearly 70% on the year and busy year for elon musk and what can we expect from elon and tesla in 2023? >> if elon's watching right now, my highest recommendations get a
very good ceo with a great reputation to run twitter, get out of the way and get back to tesla. i think it's lost about $650 billion a month and market cap and even more and industry and electric vehicles not as strong and discounts that they normally would and guess what companies and hoping he gets concentrating on the other things and he's got spacex also. or somebody else running the show. edward: thanks, gary. my ego tells me he's probably watching. thanks, gap reigns leading. appreciate it. coming up, law enforcement sources telling fox that brian
of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. edward: fox news hearing that a
suspect brought into custody after the murder ovfour university ovidaho students last summer. william joining us live from los angeles with the latest. reporter: the police and fbi arrested the suspect 28-year-old bryan christopher kohberger last night around 3:00 a.m. in scranton, pennsylvania, about 2500 miles from the murder seen in moscow, idaho. the judge granted no bail and he's being held for extradition. he may not be the sole suspect in this of the four students. coroner said all four appear to have been stabbed multiple time withs a large knife and some of the victims tried to fight back, no signs of sexual assault. there were two other females in the house at the time, they were not attacked and reportedly heard nothing. till now police have made no arrests and identified no suspects. what we don't know, ed, is what
connected the suspect to the crime; right. was it this white hyundai elontra and put out pictures and generated many, many tips or possibly have been flat configuration a -- there's a picture of the suspect right there being held in custody in pennsylvania. we do know that there's a news conference scheduled today at 1:00 pacific local time in moscow, idaho and 4:00 in the east. again, ed, we don't know whether he had fled a police data base and maybe connected him that way or potentially have a prior relationship with one of the victims or was it that vehicle? we'll have to find out hopefully in a few minutes. back to you. >> william live with the latest. we'll be on that and you'll see the news conference here on fox business. thank you for the live report. let's get reaction from retired nypd lieutenant. first i want to talk to you about this murder. there's a lot of frustration from the victims' families that hasn't been updated, there
wasn't a suspect named. was this possibility a case of just stuff going on in the background that the police just couldn't reveal? >> that's absolutely the case here. i think i have to give them a lot of credit for keeping it close to the vest the way they did. you can take the family on the side and say we're working on something, you can bear with us but, you know, when you're the family of the victims, they want a little more and rightfully so, but the police played it the way they're supposed to play it. in other words they didn't just opine on things they didn't have and they weather correspondent robert working on -- were working on evidence and it was a very complicated crime scene with multiple floors and tons of fingerprints and run all the dna evidence they have and the fingerprint evidence they have so it's a time consuming task they undertook and they took their time with it because nobody wants to be the one that gives out false information that a defense attorney can use against them in the case. you want to make a rock solid case and you want to proceed
when you have enough to make the arrest. edward: the fact that there was no arrest or name or indication there was a suspect early on and it took so long, did that -- is it not a surprise then that someone was taken into custody in another state, 2500 miles away? >> no, it's not a surprise and as i stated, edward, you don't want to give out that information and look where he wound up in pennsylvania. lord knows where he might have bond up if they didn't keep -- wound up if they didn't move on the case the way they d. maybe he felt comfortable being back in pennsylvania. it was just stated prior to me coming on that they don't know what's tieing him in. is it dna, is it fingerprints, is it the car? you'll know this at 4:00, they'll give a little more into the case, and you won't know right away if he acted alone. they're not going to reveal that because once he's in, he's going to lawyer up and everything but if they feel there's another suspect, that's on him to come about and play with the prosecutors and say, listen, this is what really happened
that day. this person is the only one that can paint the full picture. edward: right, joe i want to switch gear as little bit and new york city's finest have had enough and crime is running rampant and nypd is experiencing a rush of retirement and now the country's largest police department is struggling to keep officers on the job. this is not a surprise, is it, after years of attacking police with their character? >> absolutely not a surprise. we've been speaking about this for so many years now since de blasio ruined the police department and continued on with every administration and every politician that's out there taking a swipe at the police. i mean, edward, what do you expect them to do, they're not endemocrat any fioed by any -- indemnified by the prommer actions and there's no -- actions and it's brought to them and a wasted effort on their part and the judge is on top of that telling them to do their job and it's a very thankless
job right now and surprising thing to me is i walk intoed one police plaza and still see the smiles and everybody doing their job to the best of their ability. their hands are tied and the police have been handcuffed for so many years and it's time to take the handcuffs off and put the handcuffs on the people that they deserve to be on. enough with this back the police, give them the indemnification they need. you don't have anybody taking the test anymore. that's the sad part. you're going to replace them with people that really don't want the job that will take it for a few years and leave, get the training and leave. edward: so last minute or so, how do you fix it? it's not a quick fix; right? >> oh, it's definitely not a quick fix because when you have the horse already out of the gate. you lost so many seasoned officers and supervisors and people that you usually pass that knowledge down to the new recruits but you don't have that anymore. the long-term fixes make it the job it once was where you want to come onto this job. you had a waiting list like you wouldn't believe to get on this job at one time because that's
the kind of job it was and that's what we need. we need a police commissioner that works independent from the mayor, that is allowed to do the job that accomplice commissioner is allowed to do. police commissioner is allowed to do. edward: i wanted to ask you, do you feel like the president needs to come out and have a strong message to start turning that rhetoric around? >> you know what, the president can say anything he wants, it's the actions he takes that makes a difference. it's the actions that politicians take. this has to start right here at home. it has to start here in new york city where you have a city counsel that supports the police department, not wearing shirts for a political agenda for the day and wearing t-shirts, can't have that. needs to start here. edward: joe, thank you for the update there. coming up next, we'll discuss the biggest potential roadblocks for stocks.
i'm just going to hit record on this. i would like to thank you from the bottom of my heart. i can't even think of the words of how grateful i am. i want to tell you guys how much, how much we appreciate. but most importantly, i want to thank you for your courage and bravery. wow. thank you. someone here who'd like to say something to you? oh god, you guys are awesome! someone has something they want to say to you. oh my goodness! how's it going? awe! so i will let you know how much appreciate it. how much we appreciate it! just feel honored, for everything you've done. thank you for myself, thank you for everybody. i get to live every day, you know, in peace because of yo a lot of people thank us, but we want to take the time to thank you honestly, for giving back. and when you gave to dav, you are supporting veterans like dave and myself.
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