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tv   Your World With Neil Cavuto  FOX News  July 28, 2022 1:00pm-2:00pm PDT

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great knowledge as always. thank you. >> thank you. >> trace: things are heating up between the doj and hunter biden investigation. that is "the story" of thursday of july 28, 2022. as always, the story goes on. we'll see you back here tomorrow at 3:00 p.m. eastern. "your world" with neil cavuto right now. >> tried to change it from a technical explanation to whatever it is now, i don't agree. we started feeling it months ago. you feel it every time you pay for grocery, every time you buy gas. everything is more expensive these days. >> cars, rent, housing. food. everything. everything has gone up in price. >> we are not able to do as much traveling because we don't have as much money. everything cost three times as
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much right at the moment. >> not necessarily feeling it right now, but in the future, i have big plans. if interest rates go up on the home mortgages, i could be a little screwed there. >> i'm in the corporate world. it's concerning. >> with the prices going up, we cannot afford sometimes what i -- you know. so it's hard for me. >> have to pinch here and there. still living our life. >> neil: the white house learning what americans knew all along. we're indeed in a recession. the economy pulling back as prices refuse to let up. stocks ignored this and moved up what is really up? we're going to talk to senior economic adviser, gene sperling in just a moment. this is neil cavuto and "your world." first to edward lawrence at the white house on how all of this is being digested there. edward? >> the president confident that
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we're not in a recession. we're hearing it from everyone in the administration. don't look at the gdp numbers. look at job growth. in fact, the jobs that the administration says that they created will add to the economy. the private sector added back all of the lost jobs during the last pandemic growing by 140,000 jobs. so on net, net is how many jobs the administration created. the rest were added back to what we lost because of covid. the president trying to use that jedi mind trick telling americans we're not in a recession. he believes the economy under his watch is too strong to be in a recession. watch. >> there's a lot of talk about whether we're in a recession. if you look at our job market, consumer spending, business investment, we see signs of economic progress in the second quarter as well. >> so in fact it's been a full court blitz today to counter the
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data showing two quarters of negative growth. here's the treasury secretary. listen. >> the economy grew when it was recovering from the pandemic and all of those job losses and policy was designed to do that. we should expect to see it slow down. this economy is at full employment. >> republicans say look at how much you're spending and what is in your bank account and what americans feel is a recession. >> neil: i want to go to gene sperling, top economic adviser to president. very good to see you. >> thank you. >> neil: this back and forth whether it's a recession or not, when bill clinton made to it the white house in 92, you guys were arguing that we in a recession and we were. the bush administration was arguing at the time that we were climbing out of it and
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statistics would bear them out. aren't you doing the same thing? >> i think all the president and all any of us are doing is trying to offer a balanced view of the economy. first of all, every family is the world's greatest expert on how they're doing. we know that millions of american families cannot escape the higher prices that have come from this global inflation the world is going through now and that that's a squeeze at the gas pump, a squeeze at the grocery line. we understand that. on the other hand, i don't think there's anyway to look at the last six months and say this is what a recession looks like. the 2.7 million jobs created in the first months of this year is otherwise the most jobs created in the first six months of the year in the history of our country. that doesn't mean everything was great about the economy.
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but the chairman of the fed, jerome powell said yesterday, there's no way that a six-month period with 3.6% unemployment and 2.7 million jobs created is consistent with what you think, anyone thinks of a recession -- >> neil: that might be the case, but the fact of the matter is, i can cite many more statistics that show that things are recessionary. i can talk about factory production, retail sales, mortgage demand the worst it's been in 20 years, talk about existing home sales going down. new home sales going down. >> you can also -- >> neil: why -- when you say we're not in a recession, whatever you get from that and americans hear that and remember the stuff that i'm talking about, they think you're out of touch, gene. you almost make it sounds like cake. the cake is double the price. >> except i didn't.
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except we aren't and i didn't. i expected by saying every family is the greatest expert. people feel squeezed -- >> neil: no, they feel it's a recession, gene. they feel it's a recession. >> when they go to the gas pump, they do feel that. i don't know what words they want to use to describe it, but we understand people -- >> neil: acknowledge their pain. just acknowledge their pain. if you don't want to call it recession, fine. acknowledge their pain. >> here's the thing. you just said acknowledge their pain four times. i literally started my discussion here by saying that people felt squeezed and a gut punch for higher prices. no matter how many times i do that, you're not going to acknowledge that i said that. >> neil: you mentioned the jobs backdrop, gene. >> that's not true. >> neil: i said four or five different things that are bad. you're not calling it a recession. i get it. what would you call it? what would you call what we're in now?
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>> after the record -- red hot economy we had in 2021, you're seeing understandably a calling as the federal reserve has raised rates. the goal is for us to be able to make a transition to a more stable growth with lower prices. and we are not denying any of the things that are affecting people in terms of higher prices. if you're creating a more balanced picture of the economy so that you're not feeding more negativity about the overall economy, but you have to recognize the 2.7 million jobs, 3.6% unemployment, the fact that spending on services actually contributed to growth and major banks when they did their earning reports, they saw no signs of a recession and that j.p. morgan said they saw spending up 10% higher than last year. everything is rosy? of course not. we should have a balanced view. if you have a balanced view, you
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see a picture of much more resilience than what you're suggesting. you do not see the kind of major contraction or lay-offs that have been consistent in our country with a recession. there's never ever history of our country been a period where we've grown by over 2 million jobs in six -- >> neil: but lay-offs are starting. you're right. we're at a higher point and have a lot further to go to suffer greatly. but i do find interesting, no offense, when bill clinton was saying that we're in a recession, it's getting worse. in fact, we learned in retrospect, we were coming out of it. you knew that at the time. i know how politics is played on both sides. i have no axe to grind with either party -- >> i have to go back 30 years -- >> neil: go back to that.
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it's the opposite of what you were doing back then. >> no, this is a -- we're pretending a balanced view. we're recognizing -- we understand -- 9.6% inflation in the 38 countries of the oecd. we understand the fact that -- >> neil: you're not breaking about 9.1% in the country, are you, by comparison? we're doing better, you're not saying that? >> no. that's what you're saying. i'm not saying that. >> neil: you said you're comparing to it 9.6%. >> i'm just explaining a factual number, what the oecd says. what was -- >> neil: 9.1% you acknowledge is awful, right? >> what i was going to say was that the fact that -- the fact it's a global phenomenon is of little comfort to an american going to the grocery store who feels squeezed. we understand that. we're not me gaiting that. we're very happy that -- these
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are the reasons why we're doing the things that we have, why we have a million a day strategic petroleum release, which has contributed to the 75 cents that gas has come down. why we're talking about passing a prescription drug cap to lower prices on prescription drugs. lower prices on health premiums, to lower prices on energy. all of these things are in the inflation reduction act. so the fact that we understand that is why the president said that lowering prices and helping out the pocketbook of working families is his number 1 priority. >> neil: they call it the inflation reduction act. this is -- this is a new spending initiative and calling it the inflation -- normally government spending is what got this whole ball rolling here. you come up with a stamp like that on something, it's more government spending. you hope to exact some savings
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but that's not the record. >> let's look at the overall plan. we have disagreements with some of our friends. but those friends like joe manchin and larry summers agree this is paid for and will reduce the deficit by $300 billion and it's anti-inflationary and will lower prescription prices and energy for 13 million. when you look at it as a whole, it's an anti inflationary bill and there's wide support for this. >> neil: you are very good at economics. there's no way you can think that more government spending is going to cure inflation. i just don't think you believe that. >> giving medicare the ability to negotiate lower prices to save $288 billion for medicare, so you're lowering government
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spending and lowering what seniors pay for prescription drugs and capping it, yes, i believe that is going to be anti-inflation and lower prices. just asking the most well off americans to pay their fair share, to close the loop holes -- >> neil: by the way, what is fair share, gene? i always hear that. what is fair share for a rich person? i know about the corporations and those that -- but for an individual, what is fair share to you? 37% now. you want to bring it up 39.6. what is fair share? what level are they paying taxes that gene sperling and the white house can say finally you're paying your fair share. >> the one that is relevant to the bill we're talking about is -- all this business says if you're reporting over a billion dollars of profit, to your shareholders and to the markets, you should be paying 15% on that. >> neil: take that off -- what about wealthy individuals then?
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in this environment, no matter who you tax, companies or otherwise, this is the environment to raise taxes on anyone. >> what you're doing here. we're not raising rates that is not relevant to the discussion we're having. when we talk about the chips bills, you're seeing one of the best days for creating incentsives for people to increase the supply of semi conductors through the chill bill and through this inflation reduction act, increase the amount of clean energy, manufacturing production done here in the united states. i think in will be a boom for the bottom line of all, which is the location and creation of manufacturing and high value added jobs in the united states. >> neil: we shall see. the jury is out. hope springs eternal if that is the case. finally, let me ask you about the federal reserve. you don't like to judge what it's doing or not doing. it's been raising rates.
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you went from zero in mark to about 2.5% right now. they expect to keep raising rates aggressively. many argue by the end of the year, it would be 4 or 5%. what do you think? >> we have such respect for the independent federal reserve. we have the same policy and the same one under president clinton or president obama of not commenting on the monetary decision. i'll come back one day and tell you my views -- >> neil: you know that they -- their goal -- >> their goal -- >> neil: they will raise rates to whatever the inflation is to get it done and keep it down. now, if they were to do that in this environment, they would have to raise rates to 8.9%. do you fear that? >> i don't -- i'm not sure i agree with that assessment that
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you just said. again, this is just a policy of the white house which we think is a good policy, not commenting -- >> neil: i understand. but that's the fed goal to match their rate with the inflation rate. they could keep raising rates, that they don't have to go that high and inflation will come down as a result. what if we did? >> i will leave that to your discussion with so many other experts that are not working for the white house right now and don't have to worry as we should about respecting the independence of thank god what we have in the united states, an independent federal reserve that is able to make these decisions based on their assessment of the economy. >> neil: we'll follow it closely. gene sperling. >> thanks for having me. >> neil: thank you. and i want to go to gary kaltbaum. if the markets are worried about this, they have a funny way of showing it. they were rip roaring again
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today. likely to have one of the most markets in a couple years. maybe the market is buying what gene sperling just said. what do you think? >> first, let me say for the record, it's a recession. i'm telling you it's a recession. the first six months, statistics say so. on june 17, the ten-year yield topped. on june 17, the s&p hit its low. it's as simple as that. the market is following interest rates. in the first week of january yields bottomed and skyrocketed. that's when the market topped. so you get the opposite right now. that is the driving force behind it. the cost of capital coming down. the cost of mortgages coming down. hope it sticks. or else. that's what the you're seeing in markets. i know markets are better when i see bat news being bought, i see bad earnings being bought up. so i think we're -- i don't know if we're off to the races, but a
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better on a daily basis. >> neil: and i had a chance to catch up with the man that runs the biggest hedge fund on the planet. he weighed in on this environment in washington. he did not like what he was seeing. >> you think we're going to have a soft landing doing what water doing right now? markets are hoping that we can and we avoid a recession. what do you think? >> you can't keep spending without -- and bring down inflation. here's what i think. i think that we're not going to be able to take the interest rate to a high enough level to get a good real return to holders of credit without causing a contraction in
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economic activity. you have an 8% inflation rate. look at what people -- we're talking about a 3% interest rate. people think that is good. so you're going to lose money. lose buying power. i think inflation will come down a bit, but it's going to be very high. money will get a lot tighter. so you're going to have a stagflation. >> ray dalio runs the largest hedge fund on the planet. the full interview will be tomorrow on fox business. if you don't get it, you should demand it. if you don't, you'll miss it. i digress. he's saying that it gets worse. that's what he's saying. you think it gets worse? >> look, i hope he's wrong. but he's right about one thing. if inflation stays up at 8 or 9%, not good. i must tell you, neil, they're calling the big spending and tax business an inflation lowering
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bill. i worry that they're taking out our tax dollars to give the great semi conductor companies that already make billions. what they're doing is the opposite of what needs to be done to take down inflation. but they have another thing that they want to do. i don't disagree with dalio. i'm in hopes that this gets worked out. the one thing that i hope and that the american people and american businesses get great things done and i worry about these people in washington being our opponents, not advocates. so for me, i'm watching yields. if yields come down good, if they start backing up again, not good. if oil prices come down, good. if they go back up again, not good. just keep fingers crossed because the worst possible scenario for the average american is out of control inflation and some fronts it's not good shape right now. >> neil: thanks, gary kaltbaum.
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as gary was wrapping up there, amazon out with earnings. they did disappoint. they had a surprised loss but revenue topped estimates and the stock is the racing ahead 10% in after hours trading, this is a pattern you've been noticing. technology stocks now about 10 or 15 minutes we'll be getting quarterly results from apple. both of these among the most watched technology names. on capitol hill, the spending fight is on right now. how that affects the markets, anyone's guess. let's say a lot of spending can being planned and aishah hasnie is following it up a. >> yeah, republicans are angry. democrats are rejoicing. here's the question. will this surprise manchin schumer deal cost any other items on their agenda? the other question, what about kyrsten sinema? we'll tell you next. y cash) ♪ id every road in this here land! ♪ ♪ i've been everywhere, man. ♪ ♪ i've been everywhere, man. ♪
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>> neil: spending got us in this pickle. are you concerned that putting it on warp speed here is going to make things worse? >> provisions in this bill to lowter deficit, provisions in there to lower prescription drug costs, increases of taxes that will deflationary. >> neil: wait a minute.
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you have a lot of taxes in here on corporations. the super wealthy, all of that. how is raising taxes on anyone in an environment like this ever been beneficial? >> it's anti-inflationary. it lowers the deficit and -- >> neil: you really this this is going to lowter deficit? >> it's $300 billion. that -- >> neil: i can put up a frame work and say i'm going to lose ten points. they say kneel, you need to lose 50. >> neil: if it happens, it would be the first time that spending reduces the deficit. aishah hasnie following that back and forth. i did get one crucial legislation, got backing from joe manchin. >> that's right. joe manchin firing back that he flip-flopped after you and i remember, neil, we talked about this two weeks ago, he backed away any climate spending
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because of inflation. >> i walked away and down this and that. i've never been reversed in my lifetime. i never walked away. >> never reversed, he says. so manchin and schumer sayer that $750 billion energy package deal will reduce the deficit as you heard there by $300 billion. by increasing the corporate tax rate, reforming prescription drug prices and expanding irs enforcement. the deal also invests a whopping $369 billion in climate change provisions. that includes expanding the 7,500 tax credit for new electric car purchases. neil, while democrats are out there rejoirejoicing, we don't how kyrsten sinema feels. she's been weary of changing the tax break. she's not at the democratic tax caucus. others are saying the surprise deal cold cost them other items.
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house republicans attempted to block the $250 billion chips plus bill after what appears to be manchin outmaneuvering mcconnell. some democrats wonder if they may have lost something else, the gay marriage bill. a procedural vote on legislation to help veterans exposed to burn pits shockingly failed. republicans want to vote on an amendment but democrats are angry. >> this is total [bleep]. this is the worst form of overpoliticization that i've ever seen. >> neil, you have to add co have it to the mix. we have senator schumer and dick durbin that are out with covid. it looks like the leader will try to bring the senate back for ten more days in this session to try to get this thing passed.
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neil? >> neil: i hate to remind you, all of this started when you started this assignment on capitol hill. big man hugs and everything else. >> i'll talk to manchin. >> neil: thanks, aishah. very close. kind of parallels her rival. aishah hasnie on capitol hill to bill haggerty on what he makes of this. very influential player. i think it goes without saying, there was a 180 on the part of joe manchin and you might argue otherwise. but this is a big deal. who got to him? what are you hearing? >> i'm not sure what changed joe manchin's mind. this is quite different from where we thought was joe was a day ago. so i think all of us are very surprised of this. the last thing you do, neil, we confirmed that we're in a recession officially. the last thing you do is raise taxes as we enter into a
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recession. i don't know how -- i don't know how the logic changed overnight. certainly this is a big difference from where we thought joe was. >> neil: i know you don't always talk to your democratic colleagues. you do try to reach out across the aisle. we're hearing that they don't have kyrsten sinema or for that matter others. in arizona, everybody would be whooping it up over this planned spending. so is this likely to pass or will there be trouble? >> i think it's going to be very challenging. you think about what is good for america right now. we're not in this place. not ready to absorb this. there's a great deal of concern that raising taxes on the people that we need to rely upon to invest more capital and create nor jobs at the time of a recession is not the correct past to follow. they're talking about other aspects of the plan that will be government price controls on
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pharmaceuticals. the green energy spending, which you've seen what the biden administration energy policy has done to the united states of america's economy. it's crushed our economy. gas prices at the pump are killing people in tennessee. we commute in tennessee. the inflation goes through everything that has to be transported. and it has had global impact. it's inadvertently funded putin's war in ukraine. so the energy policies have to be reexamined. i'm very surprised that we see this on the table again. >> neil: we'll keep you posted. big haggerty in tennessee. in the capitol, they have a covid problem. two hours and 17 minutes. that's how long the president spoke to xi jinping. what came out of that phone call after this.
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>> neil: apple stock beat the street. they did warn about some softness in some areas. wall street didn't care. they're buying just like amazon after this. it's a storm that crashes, and consumes, replacing thought with worry. but one thing can calm uncertainty. an answer. uncovered through exploration, teamwork, and innovation. an answer that leads to even more answers. mayo clinic. you know where to go. if you have age-related macular degeneration, there's only so much time before it can lead to blindness. but the areds2 clinical study showed that a specific nutrient formula can help reduce the risk of dry amd progression. ask your doctor now about an areds2 supplement.
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>> neil: all right. normally when you talk to someone for two hours and 17 minutes, you think we got a lot to get into. there's the language barrier thing and the translation and for the president talking to the president of china, it takes time to sort that out. still, two hours and 17 minutes. what came of that? christian whiten on what he's hearing and what he had hoped to hear. what did you think, christian? >> hi, neil. happy recession day. seems like not a lot came out of this. the white house briefed the issue. and said that they talked about things like climate change, health crisis issues, which means covid. they weren't specific about what if any specific human rights violations or issues were
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brought up. americans held in china. my own experience, if you open a call with the chinese with pleasantries around turn it over to them, you're likely to get half an hour of scripted talking points through sequential translation that takes a long time. so you can have a 2 1/2 call about nothing. the white house denies that tariff changes that they've been talking about for some months now came up. that was not discussed between the two leaders. >> neil: you know, i'd be curious because i'm a numbers nerd here at fox on this tariff thing where the president is blaming the dropping on them from the trump administration. because tariffs are something that u.s. consumers pay. it hurts chinese. it's in china's interest to see them drop. looks like we're close to doing that. what do you think of it? >> it's been debated so much in public by the administration. janet yellen brought this up
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months ago. seemed imminent. seemed like something this administration would do because they want to talk to climate and climate change. john kerry said that is the most important issue. the fact that it hasn't happened yesterday, this administration is willing to use very creative arguments on how to control inflation saying that the tariffs are causing it, it would have caused it in the trump administration. that fell in 2018 and 2019 before the pandemic. seems to be stretching credulitiy. >> neil: thanks, christian. that's a long phone call. we have more coming up. a little more about apple. their earnings after the bell. you don't know whether to call them a technology company a retail company. they have the world as their oyster.
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right now they're hot. what's up with that after this.
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>> neil: all right. before i get to apple and its stock is up 3% after hours trading, i'd the remiss if i didn't mention a phenomenon with amazon. other details in the report including active any the cloud business. i don't want to get too side tracked here. in after hours trading, that stock is up 13% after hours trading. a report that in the aggregate was deemed disappointing. stopped me if you heard that. it seems to be a theme. let's get the latest on apple with susan li. nobody has better connections to this company than susan does. what do you make of it? >> yeah, despite a global economic slow down, apple still making $30 billion in sales. it's the best spring time in the
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company's history and indicates to wall street that amazon is getting a lift off of it and things are not as badly as feared. i just got off the phone with tim cook. i asked him about the recession. he would leave it to the economists. mac and ipad were impacted by supply restraints. we saw some impact from the macroeconomic environment. some services were impacted. now apple like microsoft is being affected be i the strong dollar but less than what microsoft saw. they took a hit on inflation. tim cook says they're seeing it in wages. silicone components. also taking that in to consideration when they determine the margins that they make on their product.
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on the supply chain, here's what tim cook said. he said we're seeing things better than we thought. if you look at the supply, it's less than the june quarter. so we get that things are continuing to get better. the take away, consumers are still spending on iphones and also the world's largest company, the most widely held stock on the planet. you can imagine your ira and 401(k) seeing a bit of relief. >> neil: thanks, susan li. the relief is not to all tech companies. i didn't mention intel. their stock is sliding 9%. apparently missing on revenue. that was enough to pound the stock. that could change. the initial reaction was not favorable. we'll keep you posted on that. also keeping you posts after the latest floods in hazard,
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>> neil: at least three are dead
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in the devastating kentucky rains. a lot of people are missing. will nunley joins us more out of hazard, kentucky. >> this is an ongoing state of emergency. search and rescue operations are underway. anymore downtown hazard, kentucky on the eastern fork of the river. first, let me take you to some emergency scenes and show you why people are unaccounted for in this situation. i'll show you lost creek. this is just one of numerous creeks in this area that lies at the base only some of these hills. at 1:30 a.m., that's when the evacuations started to happen. what you're seeing is debris of homes that absolutely collapsed and smashed into the creek. we can hope the people made it out safely. search crews are trying to locate everybody. three fatalfatalities, neil. the national guard has been called in.
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we hear helicopters overhead. 15 brings are completely washed out here in the town of hazard alone. right now, the kentucky river is rising rapidly. this is the energy state's emergency. i'm watching couches, homes, rooftops, parts of the kitchens just floating down as the creeks are emptying out. it's a heart breaking scene to watch unfold and this emergency is still ongoing. more rain is in the forecast unfortunately, neil. >> neil: it happened to fast. like they weren't prepared. they knew the rain was coming. but knew like the flooding that came. >> yeah, eight to nine inches in less than a 12-hour period. when that water is just raising down, you know, everybody is living in the valley, there's no where for it to go. the roads are washing out. the bridges are washing out. homes are bursting apart in the creeks like they were toys. it's unreal to see.
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>> neil: incredible. thank you for updating us, will in hazard, kentucky. we'll keep you posted with any further updates on the the missing folks. meantime, you know, we talk about just can't get anything done environment in washington. but there is this baseball game tonight. it is a chance for both parties to put aside their differences and just play baseball. wouldn't it be great if this extended to everything? we're on that after this. friday. now let's head over to the tower cam for a - hey! folks, we seem to have a visitor. it looks like... looks like you paid too much for your glasses. who? anyone who isn't shopping at america's best where two pairs and a free exam start at just $79.95. it's a quality exam worth $50. now, let's take a look at traffic. what are you doing? looking at traffic. two pairs and a free exam starting at just $79.95. book an exam today at
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>> neil: here's why nothing gets done in washington. playing baseball, they can do that. the big game between the best republican players. i don't have their are best democrat players. they are interested in playing. we will have that. chad pergram, what's at stake at nationals park? >> good afternoon. 20,000 fans will come here to the game tonight. democrats against republicans. they play the game each year for charity and then many of the players, members of congress, they are just as excited as 10-year-old kids going through bubblegum cards. listen. >> when you get a crowd cheering and you get guys playing hard, you know, it doesn't go away. >> you can't separate politics
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from the game. president obama came to the game in 2015 to try to gin up support for a asia trade framework. that did not work. president biden came to the game last year trying to get help on build back better and infrastructure. they eventually had infrastructure but no build back better. you cannot separate the two. steve scalise, the republican whip, says politics never end, even on the diamond. >> and we've got a big load on the floor, i've got a whole bunch of members right here. we usually get really good vote from all the members. >> both sides play for keeps. a democrat from california was the co-mvp last year. >> are you trying to go for the same title? >> no. it's a lot of pressure. it's just about base hits, getting on base, scoring runs. >> republicans lead 43-42. republicans won last year.
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starting pitchers tonight, republican from florida. pete aguilar, the vice chair of the house democratic caucus of california. >> neil: after the game, is there any -- is there any spillover effect? the next day or the next week, the view can work together on the legislation. it is an end after the game? >> sometimes there is a little bit of bipartisanship. people will build rapport with people on the other side of the aisle. there's a healthy, competitive spirit. this is why it's been infused with politics. talking about the presidents coming to the ballpark. they shake hands after the game. roger williams, republican from texas, the manager of the g.o.p. team, former braves farmhand, he wants to bring the trophy into the house chamber if the g.o.p. wins knowing that nancy pelosi sees it. >> neil: if you don't mind my switching gears.
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i know it's all baseball. what do they make of the joe manchin move? it's getting buzz. people are thoroughly confused. what happened? >> this kind of came out of nowhere and took everybody surprised. you need to have the votes. we say it's about the math and it's all 50 democrats present to vote in the senate if you can get them all on board. kyrsten sinema, the democrat from arizona who would be in play if she was not of the special caucus meeting the chuck schumer put together on this. joe manchin is out because of covid. also we learned this morning that dick durbin, the democratic whip, he is out. even if they get this together and they have everybody on board, they might not be able to move it next week. again, then you have to move it to the house of representatives. there's going to be a lot of question here and also republicans are going to turn this around on democrats and say
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you are passing this bill that deals with taxes, spending. use that against democrats in the midterm election. >> neil: for democrats on that measure for example, they win over someone like joe manchin but they could lose kyrsten sinema. kelley. >> it is game over if they don't have kyrsten sinema and if they don't have all 50 senators in the democratic side. patrick leahy, the democrat from vermont, he has been out all summer. he felt. he had to go surgeries. that's a problem. then you have to move through the house. the narrow vote margin there. they are expected to go down to just three votes on the democratic side of the aisle here after a special election in early august in minnesota. and then if you lose any democrats whatsoever, nancy pelosi is pretty good at passing big bills with narrow margins and they have a problem. i always say that august is a dangerous political month in washington. we are facing that now, neil.
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>> neil: also a hot political month. thank you, chad. cool as a cucumber, i appreciate that. most of the technology stocks have reported after the bell, there moving up. all of them except intel which disappointed enough to say we can't buy on that one. for the most part they are buying everything else. here is "the five." ♪ ♪ >> greg: i am greg gutfeld along with rosanna scotto, geraldo rivera, jesse watters, and a cheese doodle is her swim noodle. dana perino. "the five." >> we are not going to be in a recession. >> we are not going to be in a recession. >> the evidence is strong we are not in a recessionary period. >> not consistent with an economy in recession. >> why are white


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