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tv   Cavuto Coast to Coast  FOX Business  May 22, 2023 12:00pm-1:00pm EDT

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on the grounds 19 h h 19 too late. i say 1890. ashley what do you say? >> with the absolute come plight conviction i have no idea. latest one number four, 1919. stuart: oh, how wrong can you be, stu. the answer is 1868. memorial day took place on may 30th that year at arlington national cemetery. ashley, while we got you, 37 million people went to florida the first quarter of this year. are you hoping they leave so you got more space down there?.
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>> reporter: he is still on the stage right here t calmed down at the moment. the crowd is about to erupt. he is about to finish his speech, got to warm welcome took to the stage 45 minutes ago. senator who represented south carolina for 10 years now. somebody talking a lot about his hometown story. how he was able with the help of others create much different life than he originally thought he would have. he spoke at length what he would like to see as president in terms of securing the southern border, creating economic opportunities for all americans. says he is ready to reshape how america's classrooms are instructed in terms of what is allowed, what is not. of course you can imagine with a event like this, there was a key moment in the speech. take a listen moments ago as senator tim scott announced his presidential bid. >> joe biden and radical left are attacking every single rung
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of the ladder that helped me climb and that's why i'm announcing today -- [cheering] that i am running for president of the united states! [cheers and applause] i love america! >> reporter: just like the crowd went wild. senator scott will talk a lot about the economy, the opportunities as well as the competition the united states faces from china. he brought that up in the speech. i imagine we'll hear that more on the stump after this. he will go to other places, iowa, new hampshire, pretty much right after this. of course the big elephant in the room is all of this, is gop front-runner former president trump, they have a relationship. we head from the trump pac, that backs trump. they said about scott, tim scott aggressive media purchase desantis and christie and others. the path to second place is wide open. sim scott says he is not in this
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to go to second place. for him this is all about the opportunity to make a different kind of campaign trail. rehe sieved endorsements of two fellow senators, mike rounds of south dakota and as well as john thune. they're seeing some sort of support from the republican establishment. whether we see additional endorsements after today's launch yet to be seen. the senator ramping up his remarks. he will go to the early battleground states. there is lot of money on hand, 22 million to start his campaign. david: i love the range of your voices from announcer to shouting over the crowd. you did it all, mark. appreciate it. >> reporter: i appreciate it. david: how will his early endorsements from his colleagues in the senate impact tim scott's fund-raising in the overall landscape of the gop field? let's get the read to our panel. independent women's forum patrice lee onwuka, former d.c. democrat party chairman scott bolden, good to see you both. patrice, he already has 22 million as mark meredith just
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told us how will he use that message, and what will that message be? >> good to see you, david. i think senator scott will use that money. he made a 6 million-dollar ad buy in iowa, new hampshire. trying to get out of the gate states in strong evangelical christian voter base. that is important. part of his message not that he is tapping into his personal story of rising from you know poverty, but also he is a man of faith, very open about his faith. i think he thinks that is a great way of making inroads. it wouldn't surprise me he is also trying to build his on the ground game in some early states to really make sure that he locks in the delegates very early on. he is able to come out of the early primaries, in a very strong position so he can then continue to build that momentum and continue to fund raise and kind of get at least to the first debate. david: scott, i was talking about this earlier with some
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people around here wondering whether any democrat would dare to say this is another maga republican? >> i wouldn't call him a maga republican but still all about donald trump. every republican candidate right now and any one in the future will want to go after the maga voters because they make up the substantial part of the republican party or 30, 40%. this is still about donald trump. all of these candidates getting in helps donald trump because if he gets 30, 40% that is all he needs to get the nomination, the democrats, my party, they certainly want to run against donald trump. they don't want to run against desantis or any one of these candidates. the factor out there very quickly whether donald trump gets indicted a second or third time if they do where do the maga voters go? we'll see. david: patrice to scott's point, look at the divide, part had to do with the cnn town hall, there was a poll out late last week showed trump with 58% against desantis at 16%. then you have the single digits
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below that scott has a big mountain to climb here? >> he does -- david: senator scott does. >> sure. there is no getting around the fact that he has got to figure out a way to break out of the pack. you have a number of candidates only polling in the hoe single digits. so that said, if something, it is going to be difficult to unseat president trump and it will be difficult to frankly move aside senator, sorry, governor desantis when he announces later this week. that said, there is not necessarily, i wouldn't count senator scott out. he certainly brings to the table a lot of ideas that are important for lots of communities, including the black community. he was a leader in criminal justice reform negotiations before they fell apart because democrats walked away. i think that will be one of those issues he can run on. talk about economic issues, the empowerment zones he advocated for and got into the tax cuts.
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ideas he can bring to the table even if he doesn't make it necessarily to the top of the ticket. david: scott, very quickly, you say a lot democrats want to run against trump. be careful what you wish for, the same poll which is "harvard-harris poll" shows that trump on one-to-one beats biden 46% to 40% now. so how do you, are you sure you want to go against trump with those odds? >> i'm positive i want to. that is snapshot right now but the bottom line is unclear whether donald trump will be in the race. white-collar criminal defense lawyer if he gets indicted two or three times it will be literally impossible no matter what he says to stay in the race, raise money or competitive. rnc has to figure out how long they can hang with him. david: i remember how many times word impossible was used with donald trump and -- stick around if you can. we'll see more of you during this hour. thank you very much. president biden and house
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speaker kevin mccarthy are set to resume their debt limit talks today. both sides conceding they are still far apart. house majority whip tom emmer is here. you're key to these discussions. you're the guy who counts the votes. we'll talk about that? just a second. again, yesterday, we heard president biden talking about this 14th amendment deal which the progressives have been talking about. of course it has been dealt with in the past threw the supreme court the president cannot issue new debt on his own authority but they're claiming, bringing up the 14th amendment, which after awe was meant to deal with civil war issues, post-civil war issues, they're bringing that up to the fore. here is by the way what the 14th amendment says about the debt. the validity of the public debt in the u.s. authorized by law including debts incurred for payments of pensions, bounties for purpose of suppressing
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insurrection or rebellion that is the civil war part of the whole thing shall not be questioned. how much further do you think they will push for this 14th amendment? >> great to be with you david. the thing mower disturbing that the 14th amendment is in play or not, janet yellen said it would bring up a constitutional crisis. other constitutional scholars pointed this out. the biden administration previously acknowledged the 14th amendment is not an option. the fact they're bringing this up, david, they're exactly where they have been more than 100 days, with no ideas whatsoever. in order to get the debt ceiling done unlike kevin mccarthy and house republicans who passed a bill now more than a month ago to deal with this crisis and get things resolved protect the american people. david: let's talk specifically. say there is some deal. forget about the 14th amendment, they do come to some agreement, the president and mccarthy, they will be talking later on, how many republicans can you afford to lose if there
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is some kind of compromise between mccarthy and biden on a bill that gets agreed to by the senate? you are going to lose some probably. how many can you afford to lose and still get a bill that passes? >> well, david, let's go to this first, there is only one proposal out there and that is the proposal, eminently reasonable passed by house republicans and kevin mccarthy. the president hasn't seen fit to stay in the country to deal with this problem. now the senate isn't even here. they should take the bill up and passing it. before we talk about something that has not happened these discussions if you call them that over past couple weeks basically yielded nothing and we've got a president who is more interested going out to hundred which the vice president and doing foreign trips rather than focus on immediate crisis here at home. david: congressman, there will have to be a compromise. that is what politics is about in the united states. it is predicated on the idea of
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compromise. you won't get everything. what can you afford to lose, and particularly there is lot of talk about work requirement, welfare work requirement president biden was for at one time. apparently he is not for it this time, what can you afford to lose from the republican side? >> well again, david, i mean i understand your frustration but republicans have passed an eminently reasonable bill. it is not about what republicans are willing to lose, it is what is president biden and this administration willing to give? what are they going to do not only protect the debt ceiling crisis but put this country on a better path when it comes to our spending reforms, david. that is the issue. we're spending a buck 29 for every dollar we're bringing in. republicans are asking to raise the debt ceiling, did $1.5 trillion in return for very reasonable transformational spending reforms including those work requirements which are very modest for able-bodied working age adults without dependents.
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david: let me get specific for the vote counting with our last question. chad pergram counts votes as almost as well as you do sir, there are likely 20 to 40 republicans will not be happy with any compromise if there is anything less than 180 gop votes, there will likely be vacate the chair vote on speaker mccarthy himself. could he being up for another speaker vote again if that happens? >> listen, kevin mccarthy's leadership yielded an incredible win with the debt ceiling bill thats was passed more than a month ago, david. the administration, wall street, nobody thought republicans could do that we did. we're the only ones that have provided a solution to avoid default. it is now up to the president to come to the table and make some real strides to try to address this issue. once that happens we can have that discussion. david: well, but i would like to suggest if there is a real
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negative version of this bill from the perspective of freedom caucus and other republicans could there be a vacate the chair motion? >> hey, i will trust the speaker's judgment what he's doing right now. we'll see what the president comes back to him. i have a feeling if the president tries to stonewall more, it has been over 100 days, kevin mccarthy will suggest to him, tell chuck schumer to take the bill up in the senate. avoid this crisis, let's get back to business here in washington, d.c. david: we'll see what happens. pleasure to have you on, sir, thank you very much for being here. >> thank you, david. david: new signs consumers are pulling back on spending. former home depot ceo bob nardelli is here next. ♪
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that's 1-800-217-3217. neil: we have a "fox business alert." meta getting slapped with a record $1.3 billion fine for violating eu privacy rules but apparently as you can see it's not hurting the stock. susan li is here with me. you would think 1.3 billion would cause a drop in the stock but is it didn't happen.
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>> reporter: at end of the day, $1.3 billion, it is money, meta, we know tech companies have a lot of it. the eu ruled that facebook and zuckerberg were illegally sending back eu user data back across the atlantic to be stored on u.s. servers which the eu alleges is vulnerable to u.s. spying. meta says the ruling will ultimately hurt the users using facebook on the continent. without the ability to transfer data across borders internet risks being carved up into national, regional silos, restricting the global economy, leaving citizens in different countries unable to access many of the shared services that we have come to rely on. now the reason that meta is rallying after that initial knee-jerk selloff also that this ruling will probably speed up a new eu-u.s. data transfer deal which would allow tech companies like meta, google, amazon the like to send back european user
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date to be stored on u.s. servers. this could be implemented in the next six months, which would allow eu users to challenge u.s. surveillance. facing multimillion dollars fines over the years, ad practices et cetera, today's record break something $.3 billion fine is the most for any company breaking eu privacy rules. that tops the 87 million-dollar fine against amazon a few years ago back in 2021 where they were accused of illegally scraping user date for advertising. not surprisingly amazon and meta appeals their cases. even if meta wins appeal they might be liable for the $1.3 billion in damages, eu argues that the new us, eu data deal has not been implemented. as i said at the end of the day if it is just money these rich tech companies have 10 of billions, in apple's case
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$160 billion on the balance sheet. that is not a big hit to the bottom line. david: there is noll view. they get companies. i bet it goes to another building in browse sells. >> reporter: goes into government covers. to fight the fines and lawsuits, probably goes to the legal fees and lawyers. david, unbelievable, they always get money these lawyers. we'll get another schaap shot of the state of consumer. multiple retailers reporting earnings from loews to williams-sonoma after we saw a fall for retail sales last week. with the fed signaling holding eights steady at the next meeting. let's get the read from former home depot ceo, former chrysler ceo bob nardelli. i will test your knowledge of the car business in just a minute. first on retail, shoppers are spending a lot more because of
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inflation because of basic items they have to like food but they're spending less on big-ticket items. they're going all in on credit card debt right now. i think we got a record number close to a trillion dollars. how does this all translate what happens to the connie? >> thanks, david. great to be on with you. no question, last week was a troubling, troubling week for retail as they face, what i will call a tsunami of challenges. you mentioned consumer credit cards, close to a trillion dollars, right? you look at inflation, you're right, it's still up. it is up 20% over the previous year. so we're seeing some moderation in it but it is still up there. we're seeing continual challenges, for example, target announced a 500 million-dollar hit because of theft. the national retail association said it was 9 point some billion dollars. 26% they said is due to organized crime if you can
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believe that. so we see store closings. walgreens closing. we see, you know, a lot of stores, because of the theft and because of the risk to their employees, they're actually closing their stores. so yeah, i think this week will be very similar to that. you know, home depot missed the top line. they managed to get earnings up but we'll hear from lowe's. all the retailers, certainly some big box retailers we're seeing consumers pull back. they're concerned particularly with the regional bank crisis. they're shifting their money out of regional banks back to bigger banks. so they're very concerned about preserving cash. i see dealing with small, middle, lower middle market companies again cash crunch. they thought they would be able to get through this. we're seeing bankruptcies. seven or eight companies retail bankruptcy. foot locker last week talk about it, bed, bath & beyond. we're really in a very, i would say contracted period for retail
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sales. david: yeah, let me quickly get you on the car business, particularly talk about a tsunami of challenges. the regulatory tsunami challenges is that the car industry has. all of these new mandates from the government on electric cars and, you know, they're impossible mandates. you look what california is demanding, really, it is making the job almost impossible for companies like ford. ford by the way lost 2.1 billion on evs in 2022. they're expected to post a three billion loss this year and we just saw ev sales go down 25% in april. they're being forced to make things that they're not making money on. >> david this is deja vu. when i was running chrysler in '07, 8, 9, the obama administration implemented the c.a.f.e. standards where you had to average 50 miles a gallon. eventually had an off-ramp to
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get out of that. what happened, the car part from 11.6 years, to 12.2 now. the average age of the ice engine. who benefited? o'reilly. their sales were up 700% over the past two years with spare parts. again you look at rivian, lucent, fisker, losing billions of dollars. lordstown, electric vehicle plant sold out to foxconn. it is unconscionable to schedule an invention like this. think about the hypocrisy here. the government is forcing ev mandates at the same time they surrendered energy independence. i will give you an example. david: quickly. >> top rates with the government. in georgia, for example, they lifted the top rates. electric utility bills up 12% starting 12% starting
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june 1st. they will go up another 4.5% in 24, 25. how are we going to pay for electric vehicles when your monthly rate can go up from 16 to $148? david: other point of course we're not allowed to mine for the materials needed to make batteries in the united states that makes it even harder to manufacture ev cars here. we have to leave it at that. bob nardelli, what a pleasure to have you. thank you for being here. >> thank you, david. david: very much appreciate it. coming up president biden dismisses chinese spy flight as a silly balloon, and blames it for dei will rag open communications between the u.s. and beijing. more on that when we come back. ♪ ♪ ♪
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david: president bider predicting a quote thaw in relations to china. banning u.s. crip maker micron as a big supplier to chinese firms. the chinese government, get this, claims micron's products pose a major national security risk end quote. former state department official christian whiton joins me right now. christian, the hot spa of communist party of china that our products are danger causing security risks in china? your thoughts about that? >> tit-for-tat. the administration has been considering tighten upping control on u.s., semiconductor technology. making its way to a.i. technology making its way to china. micron is a a is easy target. they make mem my chips and close competition with samsung and
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line next. this is something china can do. that micron is not the risk that huawei products are a risk to the free world. it is something a easy target for it to pick off. david: you mentioned huawei, what about tiktok? we still by the way have government officials, including vice president harris whose going on these interviews or shows, tiktok shows, even though she doesn't mention they're tiktok but they are. she just had a interview with a tiktok personality a week ago. that is the interview. they claimed it was on youtube and it was but it had many, many times more viewers on tiktok. is the administration really taking seriously the threat from chinese products? >> it's not. it never had a serious china policy and we saw that at the g7 in hiroshima where biden said don't worry, don't worry about the balloon. david: hold on a second. we have that sound bite. let me play that to have you speak more on this.
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roll tape. president biden: well, number one you're right, we should have an open hotline. at the bali conference what president xi and i do immediately on. this silly balloon taking two freight cars of spying equipment over the united states and it got shot down and everything changed in terms of talking to one another. i think you're going to see that begin to thaw very shortly. david: all right, a silly balloon? your thoughts on the silly balloon comment? >> well, of course it wasn't a silly balloon. it looks increasingly, we still don't have the full story from the administration but bits and pieces have leaked out, and it looks like a concerted china effort to get away with something very brazen, collect intelligence harder to collect in satellites in lower other orbit, move very fast, take a quick snapshot, but a balloon to gather intelligence on our nuclear deterrents.
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china has been building up their own second strike nuclear deterrents. the he can't get phone calls returned from chinese leader xi xinping, he predicts things will get better this is the triumph of hope over reality oning out of the g7, administration before that we'll not decouple. we don't want to limit china's growth. everything is going to be okay. we'll have guardrails. we'll have a floor beneath which chinese-u.s. relations can't fall and the problem the chinese get a vote in all of that. in all of that they're voting they don't care what we have to say. david: we only have 10 seconds literally but is china decoupling in of itself because president xi is so intent on getting more power? >> its doing its best certainly on energy. a lot more cooperation with russia. with technology with will do its best. it needs u.s. advanced tech. it will not get it. so mixed bag there.
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david: christian whiton, great to see you, thank you so much appreciate the it. coming up how student loans are not only tanking peoples wallets but their lives. the great dave ramsey is here on that and a lot more right after the break. ♪. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed.
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>> i'm currently working two jobs to try to make ends meet, but however, i'm 59 years old, my credit report shows i owe $258,000 in student loans. is there any way i can make that go away? >> good lord. you got three degrees in what? >> first-degree was in multidisciplinary studies, criminal justice and religion. a second was masters in accounting. then a master of divinity in theology. >> the answer to your question,
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these are disturbing numbers at 59 years old, the answer to your question we have to make more money. david: another example, student loans not only impacting a person's wallet but their entire livelihood like the 59-year-old telling dave ramsey, he still owes more than $250,000 in student loans. dave ramsey joins me now. dave, we had mike rowe on last week, talking about this. there is just no return on investment for a lot of these colleges, but not all but a lot of college degrees, is there? >> you do have to measure it, and you measure a, what you're studying, and b on where you're studying it? what are you paying for this degree. a masters in accounting, yes, there is an roi on that, degree in marketing, mba, roi on that. communications degree, roi on that. degree in german polk can
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history, not so much. david: german polk can history. i wouldn't be surprised if you heard that. what do the folks do assuming for the moment president biden's attempt to bail out student loans fails in the supreme court, if that does fail what do these folks do? >> when we take a call of any kind where someone feels trapped in debt what we're trying to do to look at numbers, how can we help you with these numbers to give you hope? if you've got hope you can step out to do the sash official sacrificial things. i would prefer to eat chocolate doughnuts rather than asparagus. you make a case for asparagus, how my body lives longer i will choose the a the asparagus i hae mope. the lady in masters accounting making $60,000 a year. she has not monetized that the degree. the masters in divinity,
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probably different situation there. but in this case, she can take that masters and make a whole lot more than 60-k get that done. i agree shovel to hole ratio, the shovel being income, the hole being how much debt you're in. if we get the shovel big enough versus the hole, we get you out in three or four years around give you hope. david: i love that analogy. you're not at all unfamiliar. we've been talking about this literally for decades. credit card debt is way up, historic elves. close to a trillion dollars. it is up 1% from last year. just as interest rates of course are at a 40-year high. we've been here before. people didn't seem to get the message when you gave it, you knee 12, 15 years ago, we were in middle of a financial crisis. are you surprised they're
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falling into the hole again? >> 30 years i've been doing this. i don't think i ever will be unemployed. [laughter]. wow, a trillion dollars in credit card debt and this is a very sad number what it means people had biden inflationary number 9.6%, hit wallets with gas pump be bread, and steak, instead of adjusting life in other areas they simply borrowed to maintain the lifestyle, instead of increasing income this they borrowed toe sustain the lifestyle. that is not sustainable set of actions. that ends up pretty much hit the wall. you will have a bad wreck when you hit the wall. it's sad number. we're not facing reality, yeah we know that denial is not just a river in egypt. david: speak of denial, there is a lot of denial about the national debt which is
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$32 trillion. it dwarfs all other debt imaginable worldwide by the way. how do we get out of this one? >> i think it would be firing everybody that ever thought of going to washington, a whole bunch, i'm not hopeful we'll get rid of it. i don't know anyone has the political capital or the backbone to say no to the american people which have been given everything they wanted by washington for a very long time and so, we're going to have to start saying no again. it is old word. we don't use it very often but sounds like this, no. david: we by the way under a previous democrat president and republican house come to an agreement that led to a balanced budget. it is just, almost impossible to imagine that happening but it did happen about 35 years ago or so. >> it did. bill clinton balanced the budget the last time it was balanced. last time we had a budget. clinton did it.
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david: dave, i wish you were inside of the beltway. i wouldn't wish that on anybody. >> no. david: if you were there we would be better off. >> you like me way too much for that. david: great to see you, dave. thank you very much. >> thanks. david: bud light is now facing backlash from the lgbtq plus community after fallout with beer's partnership with dylan mulvaney. lauren simonetti has all the details. >> reporter: if you didn't think it was possible bud light actually angered everybody, both sides of the aisle after sent personalized beer cans of trans woman dylan mulvaney, the brands largely went silent. now the nation he's biggest lgbtq plus organization, giving anheuser-busch a ultimatum, the next 90 days, tell us where you stand as a company on gay rights or tran gender rights you will lose perfect score and best places to work list.
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they threatened netflix with the same. no official response yet from anheuser-busch but there are hints that the company might be reverting back to its traditional roots. it is selling these special cans for veterans and their non-profits. even for the 120th anniversary of harley-davidson. it is doing so ahead of the busy beer drinking summer season. a former anheuser-busch executive says it is all about messaging. >> it is not that much different from coors light, miller lite, it is barley, hops. these sales numbers are getting worse and worse every single week. i see this continuing to drag on until bud light make as comment what they stand for and what customers they will serve. >> reporter: meantime bud light is facing the sixth straight week of double-digit sales declines. it has lost almost $110 million this year. identity politics has taken center stage, rival miller lite,
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target, nike, adidas, facing some kind of a consumer backlash over race and gender issues, david. david: costing them a lot of money. thank you for that, lauren. let's check in with taylor riggs with "the big money show" see what they have coming up in less than 15 minutes from now. taylor. taylor: 14 minutes if we're exact, david but who's counting. certainly a hot going on we'll foal big money when the presidential race nominees heat up and cover all of that business angle for you. you know, david, the debt ceiling is still a huge issue. we want to know the impact of that and impact on the market. we'll break it down with sound planning group's ceo, all that coming up at 1:00. but first more "coast to coast" after this. ♪.
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♪. david: supreme court justice neil gorsuch unleashing on covid era mandates calling the covid-19 response, quote, the greatest intrusion on civil liberties in peacetime history, end quote. this as we learn big progressive cities like new york, san fran, chicago suffering another year
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of declining population. back would our panel from the independent women's forum, patrice lee onwuka, former democratic party chairman scott bolden. obviously tax, regulatory, crime situation played into this but it was really those pandemic mandates that seemed to be the biggest cause of the exodus, no? >> i think they certainly played a big role in 2020 and early 2021. i mean let's not forget in blue area like maryland here where i am playgrounds were taped off. areas outside, skate parks were covered in sand in california. the draconian measures that were taken, not to forget the economic impact on small businesses, gyms forced to be closed. some couldn't have outdoor gym classes. it was wrong. i'm glad that justice gorsuch called that out because the lesson learned is frankly, a lot
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of progressive, you know, lawmakers realized they can use fear as a tool to expand their power and their reach regardless of the consequences over the civil liberties are and economic outcomes of people. david: scott, so much hypocrisy, when you saw rule makers violating their own rules because they had privilege that normal people didn't but just to put a fine point on the number, new york city lost 468,000 from april 2020 to july 22. that's more than the entire city of miami. now i know new york's a much bigger place than miami, but it really puts into focus those numbers. >> well, it does but they didn't all leave because of covid. i mean if they left and went to florida, went for tax pups. i have lots of business buddies that did that. david: you're right. >> let's get back to the draconian measures. you had a pandemic. a million people were killed. a president was in denial of it. what would you have the alternative be?
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you had people being infected. we didn't understand this pandemic, so yes, we shut down. yes, we prevented people to try to stop people from spreading it while the president was doing super transferee vents at the white house and every one got sick. republicans are not certainly arguing -- david: wait a second. and again,. >> hold on, hold on. david: hold on. >> what would you do? it. david: it was under trump we got vaccine? i agree with you. david: initial shutdowns. i want to switch to another one if i could quickly, patrice, a week ignoring downplaying findings from the durham report on the fbi, nbc's chuck todd broke the ice yesterday calling for full-scale investigation into the fbi. listen to this. roll tape. >> look, trust in the fbi is eroding left and right. feels like we're in the moment that we need a real church committee. this is moment when the
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j. edgar hoover fbi clearly was no longer helping the american people. there was a moment, feels like we might be in one of those moment the. >> scott, your reaction? >> yeah. you know what? for african-americans, my community, we never had a big trust for the police or fbi based on how we have been treated you about reality is the fbi has always been in the political business. they investigate politicians. they investigate political crimes and what have you and the real committee that needs to look at this is a committee that says, okay, except we're in the political business but how can we be transparent? how can we devoid. david: make ourselves of agents and lawyers with political bent and implement it? i think that the committee would look at that. david: the fbi has tendency, remember, when j. edgar hoover was in charge, he had all the spies looking into martin luther king and his political enemies. >> yes. david: we pushed back against it with the church committee. i just think it is time for another kind of church committee
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to push back again, what do you think? >> i think i would like to see that. i think part of what came out of the durham report last week which was interesting, not as covered, not the fbi investigated the trump cram pain, that they dropped so many investigations into hillary clinton where there was actual criminal, potential criminal culpability there. so you know, committee that actually investigates, not just who the fbi goes after but who they choose to turn a blind eye to, that is what would really bring greater transparency and accountability and sunshine into what goes on in this law enforcement agency. david: we need those checks and balances even on the fbi. i'm not saying disband the whole fbi but checks and balances. we need to push back again. great to have you both here. thank you very much. appreciate it. >> thank you. >> thanks, david. david: a lot more "coast to coast" right after this. ♪.
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david: well, looking at the markets, we've kind of got a tale of two cities. the dow is down about a third of a percent but nasdaq is up about half a percent. so there you go. taylor riggs and the big money show here to take you through the next hour. taylor: david, i keep hearing that because the markets aren't doing worse, maybe the good news of the debt ceiling is already priced many and we don't get that relief rally that everyone's loo

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