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again from the world economic forum and davos switzerland coming up in the program we are taking you to the ukraine house amidst more reporting on the new weapons package going to ukraine we also have more of my special interview with west virginia senator joe manchin all coming up right here here is cheryl in new york. >> thank you and good morning i'm cheryl casone he and for maria bartiromo today. it is friday january 20, your top stories at 6:00 a.m. eastern time take a look at futures on this friday, the doubt taking a little bit of a leg down by ten points s&p is up by four and nasdaq by 42 and a half. we are wrapping up a big week of earnings in particular take a look at netflix stock is up almost 6%, they reported last night they missed earnings-per-share but added millions more subscribers expected in the fourth quarter major executive in the company to tell you about today. taking a look at stocks and how they finished last night they were down across-the-board, the

dow did turn negative for 2023 last night. take a look at the ten year treasury as you can see a little bit of a jump four-point to basis points higher. oil prices also slightly higher this morning taking a look and wti fractionally up this morning. european markets across-the-board as you can see green arrows the cac 40 and the docs all jumpy this morning. to asia overnight green across-the-board as well hong kong the biggest winner, president biden breaking the silence saying he has no regrets on how we handle classified documents. working out more details all morning long, "mornings with maria" is live right now. ♪.

cheryl: straight up our utility or not president biden here's the question president biden was questioned again about the unsecured classified documents stored in a d.c. office at his bombing to delaware home but instead of giving the american public a straight answer the president's cold rigid reporters for even asking, watch this. >> all answer the question but here's the deal, you know quite frankly what bugs me we have serious problem here the american people don't quite understand why you don't asking questions about that. >> as we found a handful of documents that were filed in the wrong place i think you're going to find there's nothing there i have no regrets and following what the lawyers have told me they want me to do. >> secret service meanwhile telling fox it does have a list

of names and who visited the president the child. agency said is prepared to hear the names over should congress ask but the white house insisting there is no formal visitor blog joining me for the hot topics all morning long partners president lee carter and michael lee strategy founder michael lee, good morning to the both of you. lee the lack of communication is interested between the white house and the secret service, that is number one but when you make a president biden in the image of him blowing off reporters and basically telling them how dare you. >> at the contrast between him and the treatment of him and all of this in president trump when he was going through his mishandling of documents is really astounding. a lot of people are looking at the sink it is a political move. i think biden needs to address it head-on he does not need to be annoyed everybody has a right to be questioning what this is

all about. he does get very impatient when these question and i don't think that helps them in the moments. ultimately when you're looking at these kinds of situations that aren't directly impacting the american people, people who hate biden are looking at this fuel for the fire and people who support him are going to change their minds and i think everybody in between is like enough is enough do something to help the economy i don't want to see all of this. but i don't think the biden is handling is helping them at all. >> he talked about how great small business is doing i know that's not the case but will get to that later on in the show i said this yesterday it is sloppy it appears to be sloppy and i know that were less than two years away from an election but we are less than two years away from an election these are things voters are going to have to consider. >> i tend to be in the camp that the timing of this is extraordinarily convenient and is something the justice department do about before the

midterms and is an over classification problem in washington, d.c. and these documents can be nothing, these documents could be a threat to national security we don't know anything about it but joe biden's response sums up him and his administration perfectly, it's arrogance, contempt for the american people and combined with incompetence in a complete and total disconnect from what is actually happening in the real world, how can president dodonald j trout have his home rated by scores of fbi agents that are looking through his wife's underwear drawer with the classified documents in a secure compartmental information facility, whatever the acronym stands for the president trump was receiving classified briefings in the facility after he got elected he is the ultimate d classifier, the rate in my opinion and from what i heard is completely illegal because it's impossible for him

to be in possession of classified information whereas joe biden they let his lawyers go through and will take your word for it, this sort of a proxy bothers everyone whether your biden supporter or a trump supporter and for joe biden to say leave me alone it's not my fault and even if it is my fault it's not a big deal go focus on something else. it's a contempt for people asking basic questions are entitled to a think it's a perfect summation of him as a president. >> this is been explored in washington with the coming weeks from hearings from gop, but that the same time hunter biden in the corvette, the two were digitized out but is in the corvette that the same garage, did hunter biden have access, there is reports unconfirmed, the documents had to do with ukraine, we don't know. >> we don't know lots of questions i think a lot of people are concerned about it.

i look at this and think of the language being used to cover this if you think about how they're talking about joe biden mishandling it is not theft. you talking about a few documents, you talk about documents and classified markings they are minimizing a lot of what it is. when you talk about donald trump he stole them there is a raid on his house thousands and hundreds of documents declassified documents and classified information. to the same information described totally different which makes people perceive in a very different way and in some ways as a responsible. >> organ to be talking about the story all morning long and we have a lot of big news to cover on the show with all of you. big news coming out actor alec barth onto baldwin facing involuntary manslaughter for the death of halyna hutchins a legal perspective coming up. breaking news this morning google joining tech companies that are laying off workers plus

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>> absolutely. earnings season is an important time especially these days as we glean insights from company results in everyone's waiting to see if the recessionary data that we see at the macro level starts bleeding in through the micro. as you mentioned earnings season is just getting underway here we've had a lot of the big bank results come through, earnings are down right now year-over-year about 5%, earnings-per-share we've only had 10% of companies reporting. i will say one that was really interesting was procter & gamble yesterday png, that the micro of what's coming down the pipe as topline was okay because they were able to raise sales to keep up with inflation but volumes were down, everyone knows wages and input costs are up so

margins were cramped and we think that could be the story in 1q and 23 and beyond that is something that were watching very closely. >> i'm glad you brought up the issue of wages i wanted get into the breaking news on google and alphabet the parent company are reporting, the cutting about 12000 jobs that 6% of the global workforce. you say jobs is more important that inflation and labor market data is good to be more important, the market should be obsessing over that going forward not on inflation data i have to push back and say we've not seen these announcements play into the data yet. >> yet i think that the keyword, you're absolutely right you look at unemployment claims the labor

market is hot and strong and for now the concentration of layoffs has been focused in technology and the larger mega cap financials. unfortunately we think it's only a matter of time until the unemployment numbers begin to take up more broadly in the leading indicators like the nfib small business surveys around hiring and capital sponges or plans which drive the labor cycle and those indicators are rolling over so we think unfortunately it's a matter of time before the unemployment to accept. >> hi cliff, i was looking at your notes you to be overweight fixed income going into this year as you believe rates in the belly of the long end of the curve are likely to come down. my question for you how do you guys feel about gold it looks

like it's starting to breakout it's really cheap relative to a lot of other asset classes, can this be the next lag is this something you're looking for your clients. >> that's a great question and one that we started getting more questions from our clients. gold is pretty interesting we don't own any currently and will keep a close eye on it had a pretty good run over the past three months so i think it's likely we will get some cooling in the gold market an opportunity to add as we get confirmation of weakness in the dollar. gold reacts to the dollar in real interest rates which across the curve are now positive but likely to come in. i think it's a nice place to hide in 2023 but we are not there yet. >> let's go from gold to cash

because of a lot of investors are staying in cash and they moved to cash in 2022. but that's not a long-term play in my opinion, what do you say? >> not a long-term play when you look at the front end of the yield curve and you can get 4% in very short-term bonds not a bad place to hide out, to your point longer term interest rates on the front and are lower than inflation so you really going to eat into your real purchasing power if you hold cash long-term. we are big fans of what we call 3d or three-dimensional portfolio that is diversified between stocks, fixed income and alternatives though alternatives can be more complex you want to partner with some but who knows what they're doing but it can smooth out the writing volatile years like 2022 and perhaps in 2023. cheryl: i got a run but one example of an alternative before we go real quick. >> we like the relative value

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cheryl: actor alec baldwin charged with two counts of involuntary manslaughter in the death of halyna hutchins on the set of his film rest. he could face 18 months in prison joining the constitutional attorney and supreme court bar member mark smith. thank you for joining us. we were just talking about this onset, there's been a lot of surprise that baldwin was actually charged, what is your take away from the case so far. >> i think you have to look at this from the perspective of the prosecutors in new mexico they are in a situation where you have a highly famous celebrity potential criminal defendant and someone that was unfortunately killed and everyone is watching them. they have to be thinking to themselves if i let alec baldwin go now it's going to look like i'm doing him a favor because he's a celebrity so it's a lot

better and will appear more just the justice system is not just about doing just but appearing to be just. i think it's fair for the point of view of the prosecutor to say let's let this go to a jury in a jury of alec baldwin's peers determine whether he committed a crime or not and i think that's what happened let the jury decide what the prosecutors in new mexico decide. >> lee carter go ahead. >> it surprising that they charge both alec baldwin and the other rather than picking want to go after in the situation. >> i don't think it's a shock in the criminal justice system it's a true tactic among prosecutors to really pit criminal defense against each other so they point the finger. is not unusual to put pressure on one individual to get them to turn state's evidence if you will on someone else. i see a situation where they decided to charge both the armor

and alec baldwin and attempt to get one of them, presumably armor to take a plea deal to plead guilty and testify on behalf of the state against alec baldwin i see the dynamic playing out although i don't know specifically i'm not part of the prosecution team but i see the dynamic occurring after in new mexico as they think and looked on the chessboard of this case. >> that's an interesting point. the assistant director david hall or halls has already played guilty he's ready cut a deal. i'm wondering if you piece of this and that is maybe going to be called to testify for a witness as a prosecution. the other side of this is hannah gutierrez read, she's 24 years old it was her first job she's young i don't know if that plays into whether the jury becomes more sympathetic to her she's young, she made a mistake or if echoes the other way?

>> is always impossible to know how would jury is going to few defendants because for example we don't know who the jury is and we don't know whether or not either defendant will testify and as you know testifying is a risky business in the criminal site on one hand you may find yourself admitting to guilt and looking guilty and dooming your case but on the other hand if you come across as a sympathetic defendant that made a mistake but not to the level rising to a crime, you can vindicate yourself and avoid being convicted of a major crime. that's good to be a strategic decision, often gets made on the day of a trial when the lawyers look at the decline in the tech enter context of what the judge has said and what the jury is doing and make a decision to put the client on the stand. we will watch this case very carefully as it moves forward. cheryl: so will we. i would move on to the other big

story, more detail surfacing of president biden's classified documents kindle. the secret service admits they do have visitor logs from the president's home in delaware, remember that's where the documents were in the garage next to the corvette, your reaction. >> i think the big issue with the by the documents, if you look at it looks like what biden did on his face is much worse than president trump because president trump was the president of the united states with authority to declassify documents. joe biden was never the president at least during the relevant time period to declassify the documents because he was a vice president under barack obama and that the key dynamic. at the end of the day was probably going to happen here neither of them will be indicted so what were talking about the political story more than legal but certainly does not look good that joe biden had these documents in multiple locations

apparently in with visitors coming and going into those locations and who knows who the visitors are there may be characters that you would not want around classified documents, only time will tell what that shows. cheryl: hunter biden wrote in his memoir he was quarantining at that house same time. lee carter is onset she has a question. >> i been looking at the double standard to which the covering president trump's classified situation with bidens. is it true there's a double standard or how are the two situations different? >> i think the critical difference is president trump was the president of the united states which under article two of the united states constitution gives him complete authority to declassify documents. that is a privilege that president trump earned by being the president in joe biden as a vice president did not have, he

did not have the authority to declassify any of the documents that appear to be found in his office or his home. that's a critical difference, the other thing is the time component, keep in mind that donald trump at most had declassify documents if you will for a year. in contrast joe biden had these from 2017 through now which is many more years than president trump did. honestly it's pretty clear if you want to compare the two cases, joe biden is at greater legal risk than president trump for a whole host of reasons so that's why i think at the end of neither of these individuals being indicted in either president trump or president biden will be in charge but certainly a big political fallout with all of this as discussed. i think there is a double standard on how the cases are being covered. at the end of the day i think joe biden acted worse. cheryl: interesting that you say that, mark smith thank you for your time, we appreciate it. >> thank you. >> a lot more coming up this morning, near congressman andrew

garbarino is here as the u.s. hits the 31 trillion-dollar debt limit. we are going to talk about the houses next steps. that is ahead one flight attendant having the worst first day on the job maybe ever. working to talk about it, that is coming up next as well. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence.

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cheryl: welcome back i am cheryl casone e and for maria bartiromo it is friday january 20 a look at markets as half hour, mixed bag the dow is down by 24, nasdaq and sap are slightly higher. stocks overall finishing down and particularly the dow taking a big hit turning negative for 2023, 252 on the dow last night. breaking news this morning google joining tech companies that are laying off workers 12000 jobs could be cut.

we are on it waiting for more information from the company the stock is up by more than 3% alone. taking a look at netflix they reported the earnings "after the bell" last night. they missed on earnings-per-share but they did add millions more subscribers there was expected for the fourth quarter and that's the name of the game with netflix the stock is up as you can see almost 6%. some of the other headlines in washington this morning one person injured during a shooting at an indiana walmart. police r responded to the threat neutralizing the situation. the suspect was killed after opening fire on the officers. the victim transported to the hospital and the condition unknown at this time. over 1 million people have crossed france taking the streets to protest the government's plan to raise the retirement age to 64. 64, french president macron

arguing could be the only way to prove preserve the pension system without raising taxes on increase on the country's debt macron is offering better benefits to get the workers to agree to the change. union leaders are calling for more strikes. and speaking of netflix, the cofounder reed hastings is stepping down as co-ceo he's going to become the streaming services executive chairman instead this marks the end of hastings 25 year run at the helm of netflix. hastings help turn the company from a dvd by mail, up started to the dominating streaming service it is right now netflix is looking to increase revenue by advertising in the good and crackdown on account sharing, take a look at the stock up almost 6%. then there is this, everybody makes mistakes on their first job but british airways flight attendant took mistakes to bring new heights. after the plane pushed back from the airport gate the newbie crew member somehow open an emergency door, the inflatable slide

deployed passengers were stunned, also delayed for hours over this whole thing. those are some of the headlines this morning. when i was a flight attendant i did have to pull a shoot, poppa shoot out of lax we had a threat to the plane and i remember this one guy walks up and says i've always wanted to do this and he slid down the slide and yelled toronto, people were annoyed about the delay. >> how hard would it be to accidentally. >> it's very hard. she really would had to put muscle into it, he or she i don't know. you have to put some muscle into the chute to pull it. >> that the bad first day. >> i bumped into those are not small and they don't move. cheryl: anyway i don't if that person has a job but will try to find out before the end of the show. the treasury department is starting to take extraordinary measures to avoid default after the federal government exceeded

the $31.4 trillion borrowing limit yesterday. the move gives lawmakers in the biden administration five months to pass legislation to raise or suspend the debt ceiling joy to be your congressman, house homeland security house number and house small business committee member andrew garbarino, congressman, and morning. some your colleagues in the house say they oppose raising the debt ceiling unless democrats agree to cut federal spending, in particular andrew, kevin h.e.r. of oklahoma he's one of your colleagues he's going so far to call out the national press corps for putting out this hysterical headline that the nation is in crisis and the big emergency he says it is not and we have to have a conversation about physical responsibility. >> i think kevin is somewhat right. i think secretary yelling and with the help of the press corps, they are turning this into a problem before it is we

understand that the debt ceiling is going to be hit but all of a sudden two weeks into a republican majority into the house now are hitting the limit republicans aren't against lifting the debt ceiling republicans don't want the country to default on the debt but then i could write a blank check. the democrats over the last year have spent trillions more than we have received and were knocking allow them to continue to do it so they need to stop with the charade and start negotiating with kevin mccarthy about doing a smart debt limit increase while also cutting certain spending. cheryl: it is interesting, even in the financial press you see the market is going to be in such turmoil in the market is going to be thrown off the rails, i'm not so sure to bring in likely his onset and he has a question. >> the notion that we would somehow default on our debt or stopping social security and

medicare. the math doesn't really add up, trillions of dollars are going to comment but the problem is for every dollar that comes in they want to spend a dollar ten or a dollar 20. it's a simple matter of prioritization that can be resolved. why do you think the democrats are so resistant to even negotiating a little bit and their starting point that we will not negotiate on the debt ceiling at all. >> because they're hoping they can get whatever they want, they're hoping by painting us, making us look like obstructionist is going to help them get whatever they want but after our historic speaker vote i believe we have a unified republican conference, like i said our conference position is no blank check so the democrats are good have to realize were very serious about this and they need to start negotiating sooner rather than later if you actually expect to get this done

on time. cheryl: lee carter go ahead. >> senator warren who is extreme in her views tweeted yesterday house republicans want a national 30% sales tax on everything groceries to gasoline they want to raise taxes on working-class and middle-class families while slashing millionaires and billionaires. are they trying to show how out of touch they are? how do you respond to her when she put something like this out there, how do you respond to this. >> a lot of members of congress putting bills and they say they paint the picture this is what republicans want this is what their party wants. i don't believe that bill has any chance of passing congress nobody wants to institute a 30% sales tax on food or house purchases. but of course this is what they do this is a fear mongering, the republicans of the bogeyman and instead of coming up with actual issues that are going to help america actual issues and ideas

that are going to stop us from spending and hitting the debt limit they just point to us and say they are the bogeyman the trying to scare you into backing democrats and that's just not going to work we're going to push forward with the campaign promises and the campaign promises that god is the house of representatives and the good have to decide whether they want to help us solve the problems of america or continue to throw things out us and say these guys are the bogeyman. cheryl: enough with the spending, it's caused inflation and enough is enough, that's what the markets are reacted to not worried about the debt ceiling, that's just my opinion. department of homeland security secretary alejandro mayorkas claims porter encounters are dropping because of the biden administration immigration policy. listen to what he says, i want to get a reaction.

>> weeks ago we announced lawful pathways for noncitizens seeking relief in the united states accompanied by a consequent searching for those who do not avail themselves of those processes. since then encounters from the targeted countries have dropped significantly. cheryl: by the way house oversight committee chairman james comer wants border officials to testify in hearing. he says that needs to happen next month, what do you say to that? >> i sat on the homeland security committee for the last two years and secretary mayorkas has been in front of us and repeatedly lied to us in those hearings about the security at the border and what's been going on down there so what he saying now i don't really believe is truthful. the numbers that we've seen from border patrol the numbers of record which are from november have shown record migrant encounters record getaways and record fentanyl being seized. i don't how we go from a record in november to significant decreases by now and he has

nothing to show for it has not given us any numbers or proof so i'm not going to believe what he saying now because republicans are in control the house and were about to start having hearings at the border. bipartisan hearings by the way with oversight homeland security committee. cheryl: we have to run but i have to tell you congressman in this state as advised when you have the mayor of new york city saying something needs to be done about the border here is a six-point plant to fix the border i think that says a lot about where the party is and that this really is a part of the mainstream conversation vitally, now. near congressman andrew garbarino, thank you, sir. >> we have a lot more coming up, americans are breaking the bank over one surprising penalty, that is making a buzz this morning, plus fox business home to two new shows the big money show with jackie deangelis, brian ruttenberg, taylor riggs that airs every week take

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cheryl: time for the hot topic buzz more than half of americans say the bank fees are interfering with her ability to say for a recession. a bank rate survey shows one in four of americans of the checking account are paying $24 a month in fees the fees include routine service charges, atm fees in overdraft fees. according to the survey americans are paying their debt and adding to emergency funds if they didn't have to pay these fees. okay on the one hand bad for americans, on the other side good for big profits. >> we are in a really rough situation, pre-pandemic 50% of americans had less than $500 in case of an emergency, that number is approaching two thirds

inflation has destroyed people and some people at the end of every paycheck cycle there is very little left so bank fee of 20, 30, $40 puts them into overdraft which gives them 30 or $40 on top of that so they get a paycheck and another 50 or hundred dollars is gone which matters to a lot of people in this country a lot more people that it should. cheryl: personal savings rates are down lately. >> we sure have. these situations if you remember 2008 - 2010 banks were under scrutiny a lot because of the fees if you remember the occupy wall street movement people aren't talking about that because the times of prosperity is not much of a concern but a lot of people getting hurt by these are the lowest income earners in this seems like it's $24 here and there but it adds up over time and he really does have an impact on the people who can least afford it in when you look at the banks earnings last friday a lot of people said better-than-expected but here's some of the reasons why. >> from a market perspective but

also to the economy into recession. for going into another mild recession or a recession, however, you want to characterize it can be difficult for the overall economy into thirds of the u.s. economy is consumer spending. >> we are entering some dark days, who knows how deep the recession will get how long it'll last but if you look at the leading indicators in terms of housing and manufacturing specifically the new order sub index of the ism has declined orbiting contraction six of the last seven months these have called recessions ten times out of ten and unfortunately supports of the poor that will bear the brunt of this again. cheryl: great. we have a lot more coming up this morning. maria is going to a two or the ukraine house and davos. fox news contributor brett and the realities of war. that is after the break. ♪

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ahhh cheryl: the united states providing $2.5 billion weapons package to ukraine while marias was in das versus this week, she toured the ukraine house the former military and fox news contributor brett villaraigosa which highlights the realities of the russian invasion.

maria: we're coming to you from the ukraine house on the main drag in davos, switzerland. i'm with brett villaraigosa. brett vilacovich.we want to gets house, what's taken place here, why this is so important for our viewers to understand. >> it's so nice to see you in davos, one of the most beautiful places in the world. we've been brought to meet with ukraine house and meet with ukrainian of government officials, business executives, humanitarian leaders to talk about what's going on in ukraine. in the background we have some of these atrocities that have taken place on behalf of the russian government inside ukraine so we want to show the world how vital it is for the u.s. the to continue supporting ukraine and their efforts. maria: we want to talk with one of those officials from ukraine right now. joining us is the deputy head of the office of the president of ukraine. walk us through some of these pictures so our viewers can

understand the death and destruction that has occurred. >> so thousands of buildings like this, destroyed completely, millions of people have lost their apartments. maria: this map you're calling the russian war crimes in ukraine, an incomplete map of the russian war crimes. is there anything here you want to point out that's most important for our viewers to understand what has taken place here. >> i think what is really important, there is no region, no big city in the country, i think no medium city in the country that hasn't been attacked by russian missiles, so thousands of them have arrived at our infrastructure sites, energy, transportation. they've arr arrived in thousandf buildings and everythings was touched and substantially devoid. maria: when it came to kyiv, that's when people were thinking it's getting even worse because for a long time kyiv was protected and the russians had not made that movement, right?

so what happened then? >> so when the russians understand they cannot conquer our country on land because we have pushed them out of the 50% of the territory they received seizedbefore, they started to ak us from the air. maria: these are situations and stories take that have taken place throughout the conflict. >> there are dozens, thousands of cases like this, d dozens, thousands of strategies, ukrainians are paying extremely high price for their right to be free, for their right to be together with western countries, for democracies and develop the civilized world. maria: the bottom line is, terrorists don't stop at one country. terrorists keep going. the fight for n ukraine is also

to help stop terrorists from creating death and destruction everywhere. >> if terrorists are not stopped in ukraine, they will move further on the western borders, further and further. maria: he brett, what are we missing that you want to the adhere. >> the world needs to understand the tragedy that's taking place in ukraine. it happens every day on the front lines. cheryl: our thanks to brett velicovich. the next hour of "mornings with maria" begins right now. and good morning, i'm cheryl casone. i'm in for maria bartiromo. it is friday, january 20th. it's 7:00 a.m. ear on east coast. the supreme court said you it is unable to identify who leaked the draft decision on the dobbs decision which led to the overturning of roe v wade, this happened after an eight month long investigation. tthey writethis, the team has be to identify a person