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tv   Varney Company  FOX Business  May 8, 2024 10:00am-11:00am EDT

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stuart: i got it now. i will survive. they picked that song because of trump who will survive the court case in new york as you look at new york city. 10:00 eastern time. the dow is up 6 points, s&p up, down 8, nasdaq down 53 points. at this stage not much price movement. the tenure treasury yield around 4.5%. oil down $77 a barrel and bitcoin 62,300. that's the markets and now this. biden's plan to bottle up donald trump in court through the election, that plan is not working out as the president hoped. tuesday in a hush money trial the judge warned the court about stormy daniels's
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salacious testimony, she was given details of sexual activity that had nothing to do with election interference, she admitted she hated trump, admitted to selling historians making money off the case, trump's lawyers requested a mistrial, the judge rejected that and she was allowed to continue her testimony. i'm not a lawyer but it does not pass the smell test of a fair trial. another blow to biden's warfare strategy. lawfair strategy, the documents trial has been postponed indefinitely and the georgia case is having issues, the georgia court of appeals agreed to review the ruling that allows fani will us to stay on the case, she could be removed and that would throw the case into chaos. this means one trial before the election and that's the one going on in new york and that has problems. biden didn't plan on this, he wanted trump convicted and jailed before november 5th, that strategy is pure and simple election interference. he hasn't succeeded in bottling
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trump up, the new york ct. is not in session, trump is campaigning effectively, wherever he goes he is met with enthusiastic crowds, where biden goes he is met by demonstrators and activists. biden is in trouble, his strategy keeping trump tied up in court is falling apart and he has no plan b. second hour of varney just getting started. trump's new york criminal trial is on pause, he called the proceedings a disaster. watch this. >> this was a very big day, a very revealing day, the case has totally fallen apart, they have nothing on books and records and something that should bear burden, relationship to the case, asked
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the soros backed da, a disaster. stuart: classified documents case has been delayed indefinitely, the georgia election interference case is in shambles. i am saying the strategy of bottling him up in court has fallen apart. where am i going wrong? >> you are totally right. let's start with the fact that this case should never have been brought, and it is a ridiculous case to begin with. we cannot normalize this. we are beginning to act as though it is perfectly okay for presidential candidate to be in court because of the insistence of his opponent who happens to be in the white house, this is not okay. our justice system is under the gun here. this is not right and anyone who doesn't challenge what is going on in this courtroom is un-american.
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it is unbelievably bad for our country that donald trump is being tried in this way. stuart: it is what voters think. do voters perceive this to be an attack on democracy? >> where's the media? where's the honest media person from the washington post saying how did this judge not recuse himself when his daughter is a democrat operative and getting money basically because of this trial? the gag order, all these things he is doing are grounds for appeal but the time that happens this will all have played out. they are trying to humiliate and embarrassedly president. i don't know what his approval ratings are day today but i can't think that fair-minded americans across the country are looking at this saying you got to be kidding me, this is horrible. the documents case, president biden gets off having classified documents all over his house because he is demented but donald trump is
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supposed to go to trial for the same kind of thing, these are ludicrous cases. you peddle it. i find this disheartening, if trump wins because of what they have been doing here because the white house sick to law enforcement agencies on this contender, good for him and shame on them, they will reap what they have sown. stuart: who will trump pick for his vice president? >> i don't know. we were talking about strange bedfellows and that conjures up nikki haley. they are at loggerheads but remember the kennedy plan picked lbj for his running mate even though they hated each other, everybody hated lbj. what did he bring? a different kind of voter, that could happen here. marco rubio.
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what is really great, deep bench, a lot of people in contention right now many of whom i think would be excellent. stuart: sera huckabee sanders? she's not on the list of candidates. >> my comment about sarah huckabee sanders is she's very pro-life and trump has put out a middle road on abortion which i think is essential for republican victory. 2 or 3 swing states, possibly even florida where abortion is going to be on some kind of ballot, a referendum that drives a turnout. i think he has to have someone who aligns with him on abortion. stuart: thanks for joining us. >> sorry about my rent. stuart: i do a lot of ranting here. thank you. now this. msnbc host jen psaki has a theory why so many republican
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support donald trump and would be his vice president. lauren: pulling everything out of the woodwork because she can't understand, mitch mcconnell can now endorse trump after being so critical of him. >> many of them want to be close to power. they also assume maybe donald trump will go away, maybe he will go to jail. maybe he will die, not to be too morbid. he's not a young man. who knows? they think maybe i will be behind the oval office. lauren: maybe they are scared of the mob as in the amaga republicans will come for him. and the commencement address. stuart: cleared the encampment last night. pennsylvania senator john fetterman talked about the rematch between biden and trump. what did he say? lauren: he told brett
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pennsylvania will determine 2024 and it might go for trump. stuart: he said that? >> there's a risk that trump can win. most people thought it was going to be a joke, spent too much time across the state and i realized something is happening. i have the conversation in 2020 that some of those polls had biden up 5 points. you can't have 25,000 people show up, that's not a 5 point race and 24 is going to be very competitive and close. i believe biden is going to win but anyone that takes trump seriously do that at their own peril and he has a connection in pennsylvania. lauren: he wears a hoody. he's a man of the people. he was asked about these trials. fetterman said i must senator and i don't know what's going on.
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i can't keep it straight. that's a redmeat real issue for many voters especially in pennsylvania that will determine this election. he says it will go for biden but when you are going to vote, he's like mainstreet america, he doesn't understand trials. stuart: let's see the market. a little bit of red ink, dow down 6, nasdaq down 57, not much price movement. i want to bring in david who knows a few things about apple, he thinks apple is great and i presume he believes the stock is going get to go up so you tell me what is so great about apple. >> apple has been this massive innovator. first company ever to do one trillion dollars in market so here they so here they are, they launch out yesterday revealing new products, in line for where ai is going, the second layer of revolution in
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space, what we need in the ai space is applications that make our lives easier that are easy to integrate and i don't think the company is better positioned right now than apple to do so because the seamless integration between phones, computers, ipads when you can combine that into one place. i think these guys are going to the moon not to mention a do privacy better than any major tech companies. they don't track you through the internet which messes with facebook and google's algorithms. stuart: the new and 4 chip is a big deal from apple? and explain why? >> if you're going to get into a are you have to have faster chips, the new chip that came out, 38 trillion operations per second. i can't quantify that figure. these guys are engineers, innovating and the following of apple purchasers will eat this up.
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stuart: tell me the target price of apple for later this year. where is it going? >> we are looking at 200 by year end. we have a strong dividend, they will continue to increase, they catch the right upside on the eai announcement in june, the number could go higher than that. stuart: thanks for joining us. lahren is looking at the movers and got to look at really and -- rivian. lauren: they make the electric pickup. they are reporting worse than expect a loss in the first quarter and they lose $38,000. a rumored lifeline would be a deal with apple for the i car, no comment on that. stuart: possibly abandoned the i car. it is a forlorn hope on the part of rivian. tripadvisor. what is going on?
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what happened? lauren: surprise loss. they were expected to report a profit. it was a loss and they formed a committee to decide what are some options? is there a deal out there for us? they determined their won't be any takeover. stuart: they are on their own and down 28%. intel. lauren: their forecast for this quarter's revenue, their license to do business with some companies like huawei in china, stock is down 2. 7%. stuart: they are $30 a share. almost at 50. lauren: china is what? stuart: squad member rashida tlaib demanded the international criminal court issue an arrest warrant for benjamin netanyahu. they deposit official christian whiten on that. the biden administration confirmed it is holding back with the shipment of 3500 bombs for israel. grady trimble has the full report from the white house
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stuart: let's look at big tech, i've only got two winners, meta is up $3, microsoft is up $0.38, apple, amazon, alphabet down this morning. the administration has confirmed it is holding back the shipment of 3500 precision guided bombs to israel. why would they do this? would give the impression biden is helping hamas. >> reporter: the biden it ministration is sending a political message.
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it is it is not happy with his relapse operation at the rafah border crossing, which israel because that is called a precise counterterror operation in specific areas but the administration expressed concerns that israel is not doing enough to get humanitarian aid to civilians so as you say it is holding up the shipment of thousands of bombs even as president biden says his support for israel is ironclad. >> two things could be true in the sense of having those conversations with counterparts in israel, the president having a conversation with his counterpart, the prime minister, making sure citizens lives are protected and getting that commitment. >> reporter: president biden condemned, the surge of anti-semitism, and the bomb
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shipment, none of these shipments have anything to do with the israel supplemental, passed by congress. at the same event, house speaker mike johnson congress passed that aid for israel, and republicans in the senate agree. >> they are on both sides of they are, president biden, need to make sure our friends can fight against this evil threat of hamas. >> reporter: the white house is expressing optimism about a cease-fire deal. john kirby says negotiations resuming cairo and they are optimistic the two sides will be allowed to close the remaining gaps. stuart: is biden protecting hamas?
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>> in a way year. the intrusion of democrat politics, international security. this is a nuisance to israel. he thinks he can walk this line and appease the growing pro-hamas anti-israel components of the democrat party which used to be isolated to a few members of congress, and not alienate jews and others, with his coalition. stuart: can we look at this in a more positive way for a moment? is this war nearly over? once rafah is taken and dealt with and iran seems to be in its box, in lebanon, hezbollah is not doing much. can we see the other side of the conflict? can we see the other side yet?
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>> it is possible, something biden should want about militarily to encourage the israelis to finish this operation, do what's necessary which means to move on rafah and finish its occupation of gaza and start to work on what comes next, what governs gaza after this operation. the war started october 7th that we are nearing summer. the fastest, the best way to end the war is to do so quickly with overwhelming force which the message should be israel should be able to get whatever it wants from us. everyone is putting everyone outside of israel is putting pressure on benjamin netanyahu not to finish this off so everyone is against him except for the people who made him prime minister. israelis understand this needs to be completed rapidly. stuart: michigan congresswoman rashida tlaib is calling on the international, the court to issue an arrest warrant saying
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he is responsible for genocide. will that happen? >> i don't think so. the icc is a joke, the united states is not a party, nor is israel, russia, china, india. they allow hearsay. they don't have jury trials. but despite those deficiencies even they probably would like to see a little bit of evidence before indicting a foreign leader like benjamin netanyahu and there isn't any. civilians have been killed by israeli military operations, but the israeli military doesn't target civilians intentionally, quite unlike hamas which did so brutally on october 7th. i don't think this will happen and it will make that court in the hague more irrelevant than it is. stuart: they want to keep pushing that word genocide and attach it to biden and attack the united states. i don't think that is valid. last word to you, 30 seconds.
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>> genocide is what happened income audit -- cambodia, what china did to its own people in the cultural revolution and what stalin did in ukraine. it is not waging a lawful war against a bunch of jihadists and terrorists and tyrants who killed kids in front of their parents, that self-defense, not genocide. stuart: genocide was the nazis trying to destroy the jews in world war ii. thanks for being with us. see you again soon. new york city's mayor is taking action to find the protesters who defaced the world war i memorial. what is he doing? ashley: a furious eric adams chipping in $5000 of his own money toward a reward fund to find who is responsible for defacing that memorial. here's a soundbite from the fired up mayor. >> i love america. i love america. i am proud to be a citizen of america.
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the reason we are here is because of men and women like the statue behind us. we cannot be -- remain silent when our symbols of freedom are desecrated by individuals who clearly hate our country and our way of life. i am not going to remain silent. ashley: adams is donating money in honor of his 19-year-old uncle joe who he said died in the vietnam war. as for finding the vandals responsible, fires are being distributed with images of criminals who were part of that demonstration against israel's war in gaza. they are working on some social media leads and encouraging any witnesses to come forward. stuart: still ahead on the program, tiktok is suing the federal government to block a possible ban in america.
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their argument, president biden's campaign uses it, it can't be that scary. hillary vaughan has the story later in the show. your next air-conditioner could set you back a whole lot of money. much more expensive because of biden's green agenda according to energy expert ben lieberman who joins me after this. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading.
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stuart: one hour into the markets, the dow is up 30, the nasdaq is down 18, no clear trend on wall street so far today. lauren is looking at the movers and we have one big mover, serous logic. we too it makes chips for iphones, stock up 10%. smart phone market has recovered and saras optimistic about its role in generative ai, particularly with voice ai. stuart: shopif dagen:. lauren: they help small businesses run their websites. their guidance is
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disappointing, margins are too low but shopif dagen: is using artificial intelligence, they say half of their support interactions, ai is being used and we saw one of the problems. stuart: it occurs to me that the call is often responsible for a drop in the stock price despite the results of the financial report. lauren: everything scripted and beautiful. when you get questions from the analyst, you get them to reveal more. stuart: the match group. lauren: online dating. cupid, hinge, tender and some others, down 8%. we are not spending as much, the forecast for revenue this quarter is disappointing, monthly average users down, disappointing report overall. stuart: dating is down.
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what's wrong with that? the house -- it is a great thing. stuart: the house passed a bill that takes on biden's green energy policies. what is in it? what are they trying to do? ashley: it aimed at blocking the biden administration with home appliances on natural gas. very appropriately named, 195 with 7 democrats voting in favor of the legislation, part of a sweeping bill introduced by -- the energy department unleashed an avalanche of new regulation. stoves and dishwashers and washing machines, water
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heaters, air conditioners, no government bureaucrat should try to take away appliances in the name of a radical agenda. get your hands above dishwashers. stuart: thanks. by the way, our next guest has an op-ed in the wall street journal in the title is biden is coming for your air conditioner. ben lieberman wrote that it is with me in the now. you make the point the price of an air conditioner is going up rapidly. is that because of biden's green policies? >> the number of regulations and nonregulatory forces of all these appliance regulations we just heard of, air conditioners are the ones being hurt the hardest in terms of increasing cost on homeowners but the cumulative effect of more expensive appliances are burdening the american homeowner. stuart: what regulations are
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making air-conditioners more expensive? >> department of energy efficiency regulation in 2023 last year raise the cost of a new unit installed by a thousand, $1500 alone and the department of energy will tell you to save money in the long term it is very unlikely the higher upfront costs and energy savings, next up in 2025, environmental protection agency regulation that requires new climate friendlier air-conditioners and you can guess what that's going to do to the price of a new unit. stuart: if an air conditioning get unit, $10,000 today, picking a number out of thin air, $10,000 today, what will it be when these regulations are all imposed? >> hard to say what they cost when they take effect. there's a lot of factors involved, not just the higher
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equipment costs but higher installation costs. one of the things that is unusual about the new eco-friendly refrigerants being used is they are slightly flammable which adds to safety issues that have to be addressed, that cost a lot of money in terms of equipping costs and installation costs. hard to say what we could see on top of the costs we are already seeing. stuart: $10,000 now, just pick that number, where will it be in two years? >> we will see $1000 increase per year, possibly more. stuart: per year for several years to come? >> that's what we are seeing in previous years, that wouldn't be a high end estimate. stuart: if i buy an air conditioner now without these regulations what i have to change that air-conditioner when i sell the house or when the new regulations come in?
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>> this wouldn't affect air-conditioners already installed. other regulations make repairs more expensive so you willey paying more thanks to epa regulations every time you have your unit fixed. stuart: thanks for pointing this out. i will buy an air conditioning unit now at the lower cheaper price. thanks a lot for being here. the administration working to refill the strategic petroleum reserve. it was depleted last year. what's the latest on that? ashley: the energy department says it's looking to add 3.3 million barrels of crude in october for the strategic petroleum reserve. the administration says they will move sooner but waiting for the rise in oil prices would not have been in the best interest of taxpayers. the spr hit a 30 year low after
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the drawdown of a record 180 million barrels following the invasion of ukraine. it holds 367 million barrels, down from 600 million at the start of 2,022. a ways to go to fill it back up. stuart: when they do fill it back up it decreases demand for oil which puts the price up which puts gas prices up as well. tricky political situation in an election year. a prosecutor in trump's new york criminal case was paid to do consulting work for the democrat national committee. another prosecutor leading the questioning of stormy daniels also has a biden connection. we have the story. stormy daniels will be back on the stand tomorrow after the judge denied the defense's request for mistrial. nate for is following the case and has the full report on the salacious testimony that was allowed at the trial next.
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stuart: three big losers today. tesla is down 1.9%. they have a new investigation that's not going down well. until, they have a problem, drop $30 a share. they were 50 not long ago. lauren: china. stuart: uber reported future bookings, future business not that strong, stock is down 7.5%. trump's new york criminal trial on break. stormy daniels will retake the stand to finish cross-examination. nate foy joins us, trial resumes tomorrow. will be here more salacious testimony from stormy?
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>> reporter: i would say so. cross examination will continue, the prosecution has signaled they have more questions for her as well. donald trump is in florida, he will be at the courthouse for that testimony. yesterday daniels testified that she met and had sex with donald trump in 2006. she explained it in great detail. prosecutors say that was necessary to establish the conduct that trump would later allegedly try to hide. trump's lawyers argue daniels provided judicial testimony thing the jury heard damaging details that are unrelated to the charges trump faces so they asked for a mistrial. the judge said i agree it would have been better if some of these things had been left unsaid. i don't believe we are at the point a mistrial is warranted. daniels testified she met trump
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several times after their encounter, that she thought he could help her career. daniels admits to hating trump and to saying she would dance down the street if he went to jail. trump denies having an affair with daniels, alling calling the case false and ancient history answers the trial was an effort to keep him off the campaign trail. >> in the meantime i am stuck, i am here instead of being in georgia. instead of being in new hampshire. instead of being in wisconsin. all the different states we wanted it to be in we are not able to be there because we are stuck in this trial which everyone knows is a hoax. >> reporter: the prosecution estimated it will take two more weeks to finish their case which trump believes is longer than what is necessary. he says it's an effort to keep him off at campaign trail, trial resumes at 9:30 tomorrow morning.
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stuart: and you will be there. mayor adams commenting on the possibility of trump serving jail time. what is he saying? ashley: the city's corrections department, its commissioner and rikers island will be ready if trump is thrown in jail for violating the judge's gag order in the trial. hypothetically. listen to the mayor. >> our amazing commissioner is prepared for whatever comes on rikers island. preacher she will be prepared to manage the situation as you see what's happening with harvey weinstein. we have to adjust particularly around law enforcement, whatever comes our way but we don't deal with a hypothetical. ashley: see them smiling away at the desk? when asked if he already had
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discussions with the corrections department about trump's situation, adams said yes we have. stuart: the prosecutor who led the questioning of stormy daniels has a connection to biden and the democrats. what is the connection? ashley: records show the prosecutor donated to president biden's campaign and a number of other democrat politicians and organizations over the years. according to foxnews, she donated 5 under dollars to biden's presidential campaign in 2020, more than $900 to act, an online fundraising platform for democrat candidates, that presses organizations and nonprofits as republicans continue to claim the case against trump is purely political. house republican conference chair elyse stefanik said the lead prosecutor is a donor to president biden like the judge and calls it nothing but a
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witchhunt and blatant political interference. stuart: the boy scouts change the name, it will be scouting america. they want to be more inclusive. clay travis will react in the next hour. the chicago teachers union wants to 9% annual raise, free abortions for all teachers in cash from migrant families. those are just some of their demand. chicago past cory wilkes will deal with that next. ♪ ♪ ♪ does that make me crazy ♪ does that make me crazy ♪ does that make me crazy ♪ when enamel is gone, you cannot get it back.
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stuart: the chicago teachers union put forth $50 billion of demands. cash from migrant families, and a whole lot more. garrett, the mayor of chicago as a member of the teachers union, how is he responding to their demand for $50 billion? >> reporter: these negotiations
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ahead of the teachers union, the next collective-bargaining agreement is the most ambitious yet. in a leaked document the union isn't commenting on ctu lays out hundreds of new demands it is making, a political platform with sections on climate justice, restorative justice, housing, transportation and other issues. there demands include 9% annual wage increases through 2028 bringing the average teacher salary to 123,$000, paying migrant families $2000 per child and ensuring teachers are not required to disclose students gender identity to the student's parents. the illinois policy projects the total price tag of demands to be $50 billion which is what the entire state brought in last year in taxes but once the union got former teachers union
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organizer brandon johnson williams of dollars in campaign contributions, the union is looking for a big payday. >> they are third-party and there's no way to hold them accountable. this goes beyond what a union is supposed to be about. there making a political machine and it's to the detriment of students and parents in the district. >> reporter: the highest per student spending in the country, the district doesn't have a lot to show for it. 1/4 of students tested in english and fewer than 15 students could do math at grade level. stuart: thank you very much. cory brooks joins us now. a small number of students in chicago are proficient readers, smaller number proficient in math. how can the teachers make this kind of demand for that kind of money with poor student
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performance. >> my heart goes out to the teachers facing serious challenges especially having to do with a union that doesn't line up with their beliefs. in chicago our children are suffering not knowing how to read or do math. a union who is asking for something that is outrageous. no possible way local taxpayers can shoulder the burden already being faced by the other issues we are faced within chicago. stuart: another chicago teachers strike because there was one a couple years ago that was destructive to the city. >> very likely. the thing about it, so many times we are taking focus off of the children. these children need to lead -- learn to read and do math and be critical thinkers but when you have a teachers union that aligned themselves to take political stances and political
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views and make themselves almost a party, students take a backseat and that is what we are seeing in the city of chicago and i'm afraid this will spread not just a chicago a lot of urban areas. stuart: how do you feel about giving cash to migrants as is in the proposal? >> we are faced with the burden of resources needed in the city, infrastructure problems dealing with crime every day. we are dealing with a lot of issues, we will ask taxpayers to shoulder the burden and give people cash payments. that's not something we should be doing. for the teachers unions to involve themselves in immigration policy issues is absurd. stuart: it seems like chicago is in crisis. this one too.
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police cleared the encounter at the university of chicago tuesday morning. do you approve of that? >> safety and order is a must which i approve of the police moving encampments which we have to get across america where we are seeing displayed on campuses the universities where they are allowing protests to rule over those who come to colleges, to be trained, to be given their degrees in places they thought would be honorable. when these protests are overruled and take placement, take priority, that is something that should not be. i agree totally they should have made those encampments to focus on becoming sanctuaries. stuart: you are sounding very conservative. come back and see us again soon. pastor cory brooks. >> appreciate it.
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stuart: california congresswoman yong kim on 15 house democrat calling on biden to take executive action on the border. trump 2024 national press secretary on the view cohost wanting trump to be thrown in jail. clay travis on the boy scouts's new name. the 11:00 hour is next. ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. what will you do when the power goes out? power outages can be unpredictable and inconvenient, but with a generac home standby generator,
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