know about next week the world's biggest names in business, finance, politics will be making headlines at the world economic forum beginning this weekend i will be there bringing it all to you on mornings when maria live, my live guest next week the head of glaxo, carlisle, bank of america the un secretary-general, imf managing director, the ceo chevron and intel along with the president of the stock exchange and more to ninja fox business six to 9:00 a.m. eastern all week next week, this week and we will see you on fox news channel "sunday morning futures" live the first interview the house speaker kendra mccarthy giving us the house judiciary committee jim jordan, matt ten evi all with me sunday, live on fox news channel. i will do it for us, they get so much for watching, have a great rest of the weekend. i will see you next time.

>> hello on the "wall street journal at large", classified documents in the garage. intel secrets in the closet, now joe biden faces a special prosecutor to investigate his handling of classified information. and inflation takes down again, could the economy pull off a soft landing this year? republicans in congress want to take the asked to spending sound fiscal policy but risky politics, california is the true state of freedom according to the governor the list of things that you can say and do in the golden state get shorter and shorter. we will be discussing this with my guests kellyanne conway and philip levin, to begin when that was top secret papers in a closet in the building where he was supposedly teaching, that it was classified documents in the garage at his home in wilmington, delaware right next to his precious corvette where

else have we discovered joe biden keeping intelligence briefings on the golf course, and the ice cream polish, revelations this week that classified papers from web i did was vice president has been found in part from safe spaces has created a set of problems for the president on thursday merrick garland the attorney general announced the appointment of robert hur to investigate the sensitive documents. this leaves us with the remarkable position in which the last two presidents in the two probable front reddish for the respective parties nomination in 2024 both faced investigation by special prosecutors, late last year jack smith to investigate donald trump and claimed he broke the law with the statute documents at mar-a-lago. that episode was greeted with disbelief, and outrage from president biden at the time. >> when he saw the photograph of the top-secret document laid on the floor of mar-a-lago what did

you think to yourself looking at the damage. >> how that could possibly happen, how anyone could be that a responsible. >> that you're responsible but leaving him next year corvette in your garage is a heightened responsibility but now biden is under fire because the media was quick to suggest that there is no parallel whatsoever between the two. >> this is not mar-a-lago. >> we notre is a liar in the thief, biden is a liar and a thief so we give them a benefit of the doubt. >> he heard them equated to what happened with former president trump even though it is very apples to oranges situation. >> it was an honest mistake. >> between the two it is true and donald trump faces jeopardy but the other difference is one thing he had legal authority to declassify documents biden as vice president had no such authority. the timing of the biden revelation is also questionable

first documents which according to reports contain secure compartmented information as top-secret classification was discovered last november ahead of the midterm elections in which the trump investigation had played an important role for some voters in shaping their opinions but these discoveries were conveniently democrats only made public this week. it is hard to say with any confidence how this will all unfold and whether the extra new process will end up in legal hot water for the current or the former president, there are dangers in the process whatever happens, mickey government seems to be a battlefield which is increasingly the law on prosecution rather than elections of politics that used to settle differences repeated pettit enter presidential impeachment, special councils the continuous effort not to defeat but delegitimize your opponent history surely tells us it'll be better if we let the voters decide. >> but talk about this with our

guest former mayor of miami beach and former senior counsel to president trump kellyanne conway, thank you for being here. >> thank you, let me start with you, how much trouble do we think president biden is in. >> is in trouble, yet democrats basically saying we need more answers to the growing questions, it's very obvious there's a double standard, the hypocrisy about president trump and is handling as president of classified documents. i want to back it up to a very central point, the law is cut and dry even a staffer like me who had a tsi top-secret security clearance, we know you cannot have a piece of paper outside of where it belongs and the reason is because they contain anything from national security secrets to a briefing that day about an individual for an issue that is brewing somewhere around the world were here domestically, if you just look at the law some of the defenses that are being put

forward on behalf of president biden are actually admissions of guilt if those documents were an insecure place and no more insecure than your garage next year corvette i would say, the question ultimately will be the same question for president trump is it in the public interest to prosecute a die of former president or a sitting president former vice president i have one other thing to say you mentioned the election proximity to the election this is important is to be the second consecutive election were a major piece of fact and evidence was concealed from the public that could have persuaded them in the tight election races it's a nine seat majority for the republicans and it could've made a difference just like 17% said in 2020 hunters laptop they would not have voted for joe biden this goes against two joe biden is supposed to be not the

ragtag team coming to washington when a government experience, this guy's been here for five decades initiative no better. gerry: i would ask philip levin democratic perspective, it is true and i think we should say there are differences, what are the differences trump may be in more trouble, we don't know the guidance it does look like donald trump's aides were not particularly helpful there may be more trouble. doesn't show, kellyanne makes the point there's a lot of classified information are people supposed to treat this with the confidentiality and secrecy, are we in danger here, the double standards when democrats are we in danger of criminalizing this process for everybody here, people really wanting to see former presidents prosecuted for breaches of rules about documents that they surely had to be had control over.

>> at the gets a couple of things, number one what's good for the goose is good for the gander i think attorney general garland is handling the right way he put together a special prosecutor who is a u.s. attorney appointed by trump to oversee this investigation. there is a bigger issue lies with the national archive association, there's something not going right with the former president and vice president. i think we should go back further president obama, president bush, president clinton and let's go all the way back to plains georgia and they was going on with president carter, bbs classified documents. the point being is seems that something is not right with administration they should be guiding the process. gerry: very briefly we have to take a break but very briefly, where does this leave the political competition between biden and trump, you have an interesting article on friday in the new york times and the pros and cons for donald trump where is the special process where does that mean with the

election, briefly if you would. >> the news of three different finds and former vice president biden's documents takes away the essential talking point from the democrats that donald trump has no respect for classified information may be he was selling into the chinese are russians we just don't know. it removes that from them i know that it puts it on. he because you have an active president biden is a administration has a relationship with the truth in its secure, no american traded in afghanistan, this is another falsehood on the heap of growing concerns that many americans have and i think will go back to hillary clinton in that example that biden people watched and they should've taken the right lessons from that. gerry: as inflation eases his grip on the u.s. economy joe biden takes a victory lap all thanks to him, are we in the clear yet, i'll ask my panel next. s. i'm so glad we did this.

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gerry: the consumer price increased call to 6.5% but prices remain stubbornly high the slowing rate of inflation is likely to signal to the federal reserve interest rate hikes are working but jerome powell the fed chair has indicated any plan to pull back on the rate increase in the next few months and certainly not until inflation is closer to 2%. we said is it possible inflation is coming down to a comfortable level without the fed taking the economy let's talk about that with our panel, let me start with you philip, do you think inflation monster has been beaten or do you think we still have inflation for the economy. >> is a heading down the right pathways in a slower increase in clearly there's no question that raising high oil prices which are starting to lower and lower, i think that's a big difference but also remember something, the amount of ppp money that was put into this economy the lines that you saw at gucci and chanel in the luxury product companies was so insane.

that money has to flush out and i think it's happening right now i think we need to be very careful about raising rates too high because clearly we don't want to take the economy and i can tell you travel and tourism industry is exploding cruising is having record bookings which the good barometer of the overall economy of the united states of america. >> palm beach is florida booming right now. >> absolutely booming no question, no real estate development the bloom is off the rose because of high interest rates. >> joe biden was quick to blame everybody else when inflation is rising, vladimir putin's fault, rising prices, those companies felt energy producers, now apparently inflation seems to be falling any takes on the responsibility you think people will believe that. >> the polls show they don't believe it, the fact is joe biden's approval rating on the economy and the handle of inflation economic issues has been underwater for quite a while and continues to be so many more people disapprove than approve of his handling this is

very simple for the average american household reality is reality perception is not reality the pay attention to inflationary numbers and figures but the question is life more affordable or less affordable day by day and we see the necessities everyday consumables like eggs and meat and rental cars for that matter have exploded in because these are not luxuries that people are trying to afford their not saving for a rainy day or sunny day, as we face rising insurance and utility cost that also impact the family budget last point we as a republican party need to do better on fiscal sanity and spots ability both parties spent way too much money no one more than joe biden and the democrats inflation reduction will back better than the rest of it but republicans have a great chance now as peter mccarthy to reclaim the mantle we let it slip away by being big

spenders and getting a fiscal sanity and variety into budgets but also say no to spending money we don't have on things you don't need because that impacts the ability of everyday americans to spend money. gerry: very briefly fill up your business, you think we can get through 2023 without a recession. >> absolutely the first half of iraqi but second-half better and i believe will into the rowing 20s a tremendous economy very similar to 1918 will be had a pandemic as well where the world the 20s let's hope we don't get to 1920. gerry: when the were injured in the great depression in the 1940s. let's hope the first part is right. >> house republicans are pushing the custom medicare and social security what it could mean for you and politics next. >> i for a balanced budget we have to get spending under control that were not to do on the backs of our troops in our military if we really want to talk about the debt and spending its entitlement program.

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so boost your bottom line by switching today. comcast business. powering possibilities. >> my friend jodey arrington his condition the budget once a look into the budget and entitlements, do you know social security is going to be installed in 2035. >> that is not true that is not true that is actually not true. it's actually not true. >> is actually not true. >> those are the facts. >> that was a contentious exchange between byron donalds enjoy read the congressman is correct the social security administration confirm predictions that funds are expected to deplete by 2035 pre-this comes on the heels of demands some conservatives of the house you speak of kevin mccarthy entitlement programs i social security and medicare as the nation closes in on the $31.4 trillion let's talk about

this now with our guest gillian, it looks as the republicans are serious about fiscal responsibility which we could agree is a good thing given the scale as a public debt that we have but we know gillian from very strong past experience the politics till end very well for republicans with the government shutdowns or playing around with the debt limits whose efforts to rain and spending tend to be politically very risky, how do you see playing out with republicans justin control the house. >> the first thing the republicans can do in congressman it was rudely interrupting him on repeat, they have to make sure the public it's the facts this is not a republican talking point this is the social security has said the program will be insolvent by 2035. if you negative face insolvency and run out of money for something that is part of your livelihood then you do what you can to bolster it we have

noticed to do this it comes down to a four letter word republicans must make sure that the facts and figures to push back against the ridiculous lies that republicans are trying to cut medicare and social security rather than shorted up. gerry: can you get a grip on the long-term fiscal cllenges if you don't do something about it. >> the answer is no because we know that the statistics and have more people retire and hitting 65 and folks have a good faith effort to raise the age here and means tested et cetera. the democrats want to say they want after grinning off the cliff, we want to push back and be the responsible people but republicans have to finish their sentence, they cannot have a word here and a soundbite there. gerry: let me bring in philip levin's is kryptonite for republicans the understandable

improper desire to rain and the fiscal problems that we have but the cost are politically quite significant if you talk about cutting social security and medicare. >> clearly there is an issue there's no question about that. president clinton said early on in the early '90s this is not entitlement these are earned benefits this is money that people put in an expected return it was a promise made to them. i tell you the republicans move forward very similar to what senator scott tried to do before the midterms there is going to be huge push back it's going to come from tallahassee, florida is going to come from governor desantis in the state of florida with the older population that are retired there's going to be a backlash and republicans need to be very careful kryptonite is an understatement all the gains that they made in florida and governor desantis has made they can distinguish and those in the trash if there is a decrease in social security. gerry: don't like california's restrictive policies and covid-19 and sky high taxes and galatian mislead you gavin

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freedom and tolerance unless you want to be free to use all the words in the english language university of southern california school of social work removed field from his curriculum it is apparently racist, tatian's because saying going into the field in fieldwork is offensive to slavery, of course california sky high taxes and suppressive regulation and extreme tough covid restrictions and environmental rules, how free is the golden state we will talk about that with my guest philip, you're obviously important this is a direct response to governor ron desantis claimed that florida last week as a free state, do you think you live in florida as you compare the two to think california has a right and florida hasn't. >> i can tell you one thing i have met more californians that moved to southport of the number i think is more california and florida than there is in california right now.

the question we have do you want america to be california or do you wanted to be florida i tell you as a floridian i wanted to be more like florida what i think florida under california has that is ridiculous i think they should outlaw the word money that way anybody that has money were likes money needs to move to florida and make them for capitalism as well because people do not want to be in california anymore it's overregulated and overtaxed this ridiculousness is the greatest thing that ever happened in florida and i hope to god that governor newsom continues this type of policy. >> that message you brought to you by florida. kelly let me talk to you all joking aside is california the model of freedom for the country. >> it clearly is not know charter schools coming out again under gavin newsom's mouth, freedoms for mom-and-pop's mom and dad for that matter no freedom to traverse your neighborhood did not have to navigate the homelessness, human waste, syringes i think when the

left talks about freedom they mean abortion and very little after that folks are che catchig him politically in becoming independent but the catching on practically in moving out in california to places like florida but also nevada, texas and elsewise florida is a beautiful state being ruined by one party control and its government you could talk about freedom or you want but everybody remembers gavin newsom came close to being recalled enough signatures to put on the ballot and part of his hypocrisy freedom for me but not really locking down and letting down california when he was dining mask was at a five-star restaurant. >> we have to wrap up thank you very much to kellyanne conway and philip levin. his offer as i'll be back next week from switzerland with more commentary and interviews here on the wall street journal at t large, in the meantime thank yo for joining us, have aon great evening.

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