lauren: escambia is number one. ashley: gambia. i will go with -- let's have a look. yes. the answer is gambia. very good. been jewel was originally known as st. mary's island under british control. it gained independence in 1865. st. mary's island became the capital, the city changed its name in 1973. you've done so much work today, a little extra in the paycheck for you. we are out of time. the market is moving lower. "varney and company" will be back monday. coast-to-coast starts now. ashley: lunchtime on the east coast and we are focusing on two big developments in the house of representatives, easy

win to get this one. $2 trillion budget to keep the government lights on at least through the end of september did not go down easily among some. marge re taylor green filing a motion to vacate speaker johnson. she is not pleased with that. we will update you on that. donald trump, three days to come up with $500 million might have gotten a boost today from wall street. i say might have because he stands to make billions off of that particular deal but might not get his hands on that money for quite some time. let's get to it with mitch rachelle and gary kaltbaum. i want to go to this deal being passed to keep us over the hump the time being in the house, no guarantees in the senate. we have another little bit of a disruption in government operations. what do you think?

gary:darn. the bigger picture is you have an administration that's trying to take federal spending from $4.4 trillion in 2019 to $7.3 trillion, a 66% increase in five years with deficits minimum $2 trillion a year as far as the eye can see and i saw yesterday where they want to get spending up to $10 trillion in 7 to 10 years. call me, please stop them, somebody be the hero, get back to sanity. we are above spending of covid and god only knows what the bond market will do with data deficits. adam: just explain to our viewers on the left-hand side of your screen, marjorie taylor greene from georgia is not a

fan of what gary was spelling out, more spending measures to keep government lights on as the debt gets deeper and deeper. she has already called and filed a motion to vacate speaker michael johnson, the requirement that it takes one congress member to propose it and call for a vote on that in the house of representatives. how far that goes and how real that it is anyone out guess it is is anyone out guess but markets are panicked about that for the time being, more concerned about the run up on a lot of other issues and this might be a chance to give back. in a weird way, wall street get used to these shenanigans in washington but there will come a day of reckoning. >> i will pick up where gary left off, $800 billion worth of the debt service on an annual basis, a staggering number which can only get worse if it is harder and harder for

interest rates going up. this is a huge issue and it is interesting politically when somebody like marjorie taylor greene or others stand up and yell from the capital steps stop the insanity, they look like the big troublemakers, the ones who are undemocratic and un-american. my political views about her aside, fiscal responsibility is something 435 members of the house should rule on, why are you crazy for talking about that. todd: neil: you don't need more than one member to call for this. there's a process, concerning donald trump, sometimes cited these deficits the get worse, the debt that piled on, government shutdowns that become rule of thumb but more of interest to those following

donald trump, the shares of digital acquisition are down in excess of 14%. this is after the company shareholders approved a merger with donald trump's social media company that he is the biggest player on. that could be a huge payday for donald trump if it comes to pass. this would began offering to the public in which he would have a considerable steak worth at least $3 billion, your thoughts on that? >> once the deal is done he's going to have lots of coin but i must tell you you got to come through with the goods. we've seen a lot of these merged acquisition deals go by the wayside. social media is a tough business. you 've seen what happened with twitter which is now x. from the get-go he has a few billion in the coffers once the deal gets done but i repeat you've got to perform, got to

have strong earnings in the sales growth, you have to money, you have to be making money. if they do the opposite i can promise you it is going to head south and head south very quickly. neil: i would be curious looking at wall street, all the major averages not only records, they were up considerably, 3% on the nasdaq but a little giveback is expected. is that all it is? >> it is give back and this week the story was i know you don't like technical jargon but that's the tea leaves that members of the fed layout when they think interest rates are going up or down or by how much and suggest as much as three cuts in the latter part of the year and that is the fuel that has driven the market. the market is addicted to the fed and the fed being accommodated by lowering

interest rates, basically taken us where we are. honestly, earnings growth in the fourth quarter, validated the stock prices, bigger, higher flying growth companies are dependent on low interest rate environment. neil: i want to thank you. we are monitoring this, the congressman speaking to reporters at the capital was asked whether there are others who support what she's doing, yes, there are. i am monitoring this from reports of the discussions with reporters. we will keep you posted on that. the gist of it is this huge measure we are talking about to keep the government functioning, 1.2, $1.3 million measure, not a fan of. people like chip roy, to congressman roy, not among those who said the speaker should pay for his job for this. he was angry at the speaker and

other congressman saying they are tired of the same old thing. we are following that and donald trump and the few days he has to come up with some money. cb, where does it stand now? >> reporter: a big development. a large source of cash could be freed up for donald trump. the social media company that manage the platform truth social, the potential windfall can only come, and the board of the company. trump could receive a sizable payout, told the court earlier this week it was impossible to get a bond to secure half $1 billion civil fraud judgment against him.

leticia james has collected on the judgment through possible asset seizure. she registered the civil fraud judgment earlier this week. that's home to trump national golf club westchester and the trump organization 7 springs estate and this is a procedural the but allow her a lien against properties in the future. trump has asked the appeals court to accept smaller bond of 100 million when he appeal civil fraud judgment or allow him to not post one at all but no decision has been made. former acting attorney general matt whitaker told fox a decision on that won't come quickly. >> the appeals court is in no hurry or compunction, could decide in 3 weeks, that puts donald trump and his companies in a tight spot if they have to come up with half $1 billion.

>> reporter: a lot to watch with this story. as we watch of these developed by early next week shares of trump's media company could begin to be publicly traded. neil: thank you for that. don has been a big critic, a prominent democrat connected to the attorney general that this would be a mistake to pursue this and the damage it could do commercial real estate market, he' s not playing politics, just the money angle on this. now that she can make this move assuming donald trump doesn't come up with cash on monday, what's your biggest fear? >> to go forward with this. new york city, new york state have more pressing issues, opposed to this issue, and

sends a message of new york state and new york city in a difficult place to do business. the opposite message they are trying to send the rest of the country so it is a very negative impact. neil: have you had a chance to talk to the attorney general about this? fears the damage you could have on the real estate market, commercial real estate market? >> i haven't but many of my colleagues in the industry and those outside the commercial estate industry are very concerned about this and making the concern known to the attorney general by a letter or reaching out and having a conference call but this is not a good thing, the law has to work for everyone. when you do that, that creates

lack of confidence in the legal system and again, they are going after donald trump because they don't like politics and don't like him. that's not a reason to pursue these kinds of actions. neil: one of the things that always comes up, not as if donald trump, one of the most recognizable faces on the planet. i was talking to a lawyer who suspects the attorney general realizes she has a losing case, lose on appeal so she can't make much of a statement until she does something like this right now. what do you make of that? >> the reality is there is a rush here. if you are confident in your case, you let trump go through the appeals process and then through the judgment. there's a real concern this case went to a judge was pretty

biased. one that won't withstand review of appeal but being in the real estate business and owning a private club in miami, to 1926, i found it astounding a judge in mar-a-lago, worth $18 million, i would buy it for $180 million or more. it is worth $1 billion. that shows the illegitimacy of the process and how unfair it is. neil: i'm familiar of where the president's property is and more than an acre and a half a lot on the market for $100 million. that is just one little parcel. his is many times that size, has a large structure on it so you wonder who came up with the

so-called real valuations. thank you very much. to update you on a story we are following, it shocked a lot of people come republicans and conservatives in general have been chomping at the bit about spending and all these measures to keep the government lights on. marjorie taylor greene pulling the trigger some suspected a congressman would to file a motion to vacate the speaker, mike johnson. we are told she has or is saying she has support from others in the house. we've no firm notion of that. we do know there are many angry colleagues on her side who agree with her, spending good money after bad, deficits getting worse, wasting a lot of dough. all of this only five months into michael johnson's speakership. he took over for kevin mccarthy who was ousted from the top job

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neil: marjorie taylor greene wanting to get rid of the speaker of the house of representatives. she filed that motion or sends she intends to file that motion was all you need is one member of congress to do that. what has her rankled and upset is the same thing that has a lot of conservatives upset though she went the extra measure to try to toss him out. the latest scheme to keep the government lights on until september 30th carried many concessions on spending, bigger deficits and debt, she said enough is enough. aishah hasnie following these developments, the same measure passed in the house, no guarantee in the senate but what's the latest? >> reporter: this was a surprise. a lot of members were surprised to buy this. we are asking about this a couple days ahead of this vote. we kept hearing know, there

will not be a motion to vacate or at least people dodging that question. she was the only one that friended earlier this morning during an interview and then we saw her walk over to the dais and drop the resolution into it and file that motion. it is a threat right now. this is not live, not privileged yet. she hasn't decided to make it privileged yet. once she does it would force the house to take it up in two legislative days and then we would be back to last fall, looking for new speaker again. by filing this and not making it privileged, she's giving the conference time to find a new speaker, but not sending the house into chaos, she wants the investigations to continue and work to get done. it is not personal against mike johnson but he's not doing his job, take a listen. >> we new speaker that supports

all of us, not a speaker that breaks the 72 hour rule, will not let us vote on amendments or introduce amendments to major funding bills. >> reporter: she was the on the one who threatened this. the house freedom caucus chair, bob good, told me earlier that he was not moving towards a motion to vacate, he didn't want to see that happen. here he is and another house freedom caucus member, ralph normand as this was going on, would you support this motion to vacate? >> we will see what happens. let's take it minute by minute. funding this, killing this country, that's the cancer. >> reporter: sounds like she will get pushback from her caucus.

she says they look for a new speaker, put the pressure in not very good headlines on speaker mike johnson. neil: when it rains it pours. roger marshall of kansas kind enough to join us. what do you think of all this? >> reporter: congresswoman crean is right to be frustrated. i'm as frustrated as anyone is but elections have consequences. the american people gave us the white house with the most biggest spending president we've ever seen, they've given the democrats the majority in the senate. we have a thin majority in the house, this is what spending looks like under that type of leverage. everyone is down at this irrational level, emotional level right now. rise up to a rational level and think about this with some common sense. i will tell you moses could not do a better job than speaker

johnson is doing, he is as conservative a person as there is, he hates of this bill but this is the least amount of spending he could get. we got to give him some freedom and fix the system. the system is broken, we've work in working on a package of bills that go through the budget process and get everyone the bills, let america see as, let's rise up to the rational level. neil: is irrational to consider, i wonder if moses would want this. having said that, then what? the same measure goes to you guys in the senate before midnight tonight. >> they had the votes to get this across the finish line and amendments we'd like to get through the process. this is déjà vu all over again. i've been doing this for six

years. this happens every time we wait to the last second and the government runs out of money. they put these bridges to nowhere and say here it is. let's go back to the process. 18 members of the senate on the new budget process, putting teeth with a deadline we have set up, coming up with a budget resolution. the country is spending $7 trillion and taking in $5 trillion, that is what is irrational. the congressman has every right to be upset and frustrated but let's be constructive, if they don't like it, let them changed in november. if she wants to run for leadership, somebody has to lead over there. speaker johnson has my support. i don't support this bill but i support speaker johnson. >> we are going to take a break. and this is an important distinction.

marjorie taylor greene wants to get rid of the speaker there are things she has to do first, you have to activate that motion. it is one thing to propose it. it could be used as a threat. we are learning republican matt gaetz acted on a motion to ask kevin mccarthy last year, 5 or 6 months ago, that resulted going back and forth. they are trying to find a speaker to hook up with it. and a number of republicans, and i talked to chip roy, texas congressman. the measures put up for a vote and overwhelmingly passed, he did vote against it today but,

he didn't want to take to the next step to remove the speaker, this idea where you can call for vacating the speaker. so far formerly know vacating going on yet. after this. was to invest witd for my retirement. the second best? stay healthy enough to enjoy it. so i started preparing physically and financially. then you came along and made every mile worth it. hi mom. at vanguard you're more than just an investor, you're an owner. helping you prepare for today's longer retirement. that's the value of ownership.

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neil: cease-fire resolution crafted by the united states, first time we've done that in the half-year war with israel and hamas. went down to defeat in russia and china vetoed it to secure the peace or stop the bombing in gaza against extended bombing in rafah as the united states, that wasn't the point. this went down in defeat and what happens now is anyone's guess. let's go to the former deputy of national security advisers. the we were the ones who

crafted this measure and it fell apart. >> unfortunately, what the biden administration got was the worst of both worlds, and unprecedented move on the united states to offer a resolution in a case like this. the closest we come previously after the obama administration was abstaining from resolution 2334 but in this case we offered one. that is unprecedented. you have the betrayal of israel by offering it and don't succeed. this is a lose/lose proposition. neil: if i am israel, in a weird way i might be happy russia and china rejected this because it keeps things, china's status quo i guess. >> there' s that aspect to it and i would add that russia and

china, the reason they objected is this thing does condemn hamas. they don't want to condemn hamas, they want to support their irani and partner in all of this and not say that hamas is a terrorist group who committed atrocious atrocities, sorry about that, on october 7th. they want to preserve hamas as a political into tea. i'm sure israel is glad it failed but they can't be pleased by what the administration did. neil: talk to antony blinken, it was a feisty conversation, the back-and-forth over that, the ongoing campaign, sentiment and support of the white house has changed dramatically, the president will meet with leaders from israel to discuss this but it sounds like a tony

soprano gathering, read the riot act, this is what we want and we are not doing it. what do you make of that? >> nice country you've got there, it would be a shame if something happened to it. this is outrageous. secretary blinken is in tel aviv, completely fixated on rafah. if you are going to do this, you need to go in, finish it, destroy hamas and talk about what comes after. the other thing the administration seems fixated on his prime minister netanyahu itself, senator schumer's outburst calling for new elections. they are more concerned about benjamin netanyahu than hamas and their irani and masters and that is a misplaced priority based on the president's political fortunes at home primarily in michigan. neil: that line, nice country you have, shame if something

happened to it, is a keeper for me. i will keep that one and give myself credit. thank you very much. the dow down 219 points, focused on money right now and it is a big issue today. the many candidates are getting, speaking of candidates, we do know president biden is ahead on polls but he is ahead in a crucial one, cash, he has lots of it. ♪ business.

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and overwhelming advantage and the cash raised. more than does donald trump. he has the latest. the biden campaign is more happy to tell jerry maguire that they are flush with cash and more happy to tell you donald trump is not. team biden/harris, gave one hundred 55 million cash on hand while team trump has 1/3 of that, and the former president painted different picture taking to truth social saying through hard work, talent, and luck i have $500 million in cash. a substantial amount i intend to use in my campaign for president. the campaign event in dallas, president biden joked about his

competitor's cash crunch saying this the other day a defeated looking man came to me and said mister president, i am crushing debt and completely wiped out. i am sorry, i can't help you but couldn't do it. as you mentioned, despite the biden campaign's cash advantage fox's latest polling shows a dead heat in one of the most critical battleground states in pennsylvania tied 42%. this comes in 30 poster strategists, veterans in both parties tell time magazine tomorrow, biden would likely lose. and from double-digit numbers and battleground states. neil: he is everywhere.

you are one of those guys. what do you make of that. >> they don't accept zimbabwe dollars but trillions of dollars -- neil: he has $1 billion in cash or whatever it was. from the new york attorney general, and said you do have it. >> to correspond on this case like that. depends the part it is in. they will find a way to get past the attempt on running for governor. neil: she took this far. democrats, barack obama, powerful and democratic party, said slow down, you are electing donald trump. >> got him the republican nomination.

certainly helped in that respect by unfair things and we know all these things will be thrown out. georgia, new york, they thought it was so weak. neil: what is the rush for something a lot of lawyers are thinking he could win on appeal? what do you think? >> he is trying to find a way, if you put up 10%, she's out for blood, to higher office, i don't think that's going to work, that's a problem with politics today. all the guardrails, sense of proportion is out the window. and the rest of the country. neil: the threat to vacate the speaker. >> she will get a lot of fires on that.

the only seats in the house of representatives, and make big cuts in the budget. and under the circumstances, and the party is united, and they know there's a certain proportion there, makes johnson's hand weaker. neil: you don't think is best days -- >> a party will saying coming up with an election, to be the governing party and always gone through these things, people have forgotten about it. would you do this again? the media will go hogwild, the party can't run the house of representatives. neil: lost a couple of

representatives including kevin mccarthy so you could make the argument that no matter who they try for, good luck. >> serve her right to have to serve as speaker for day because that is all she would last. going before a microphone and doing what she is doing -- neil: do you see the back-and-forth on this that this gets to be an issue. washington is out of control, democrats are going to portray it as the latest example you touched on not that we are there yet but republicans can't handle the house but this president is doing well with the economy, be patient, the wind is at our back. that they're selling point. >> when you don't have a record to run on that's a good thing to do but as larry summers pointed out, the real inflation number, car credit and credit

cards, inflation is 7% or 8%, not 3%. for some reason they leave out financial costs and the peak was 18% so when biden says happy days are here again people wonder when they get the bills why payments are 50 or one hundred% higher than it was 2 or 3 years ago. rob: thoughts on donald trump and who he picks as a running mate to balance out, there was talk of marco rubio from florida, or somewhere else, what do you think? >> people wait to make a decision and right up to the last moment a lot of forces at work, people like marsha blackburn of tennessee, a kind of person who's serious about going after the administrative state, the deep state and the like so right now he's throwing out a lot of names, give people

their do for endorsing the man take it when the decision is made in july and august. he will enjoy every moment of it and is not one to shy away from people guessing about his next move. neil: you are very good at this and making sense of a crazy world, steve forbes on that, down 206 points and meta-blooge last i checked it had gone down from 7% hit to even money after running up 48% so down a little bit, 4%. we should point out nasdaq is doing well and nvidia is doing well. it leads to a correction if for example we were to see read it take a dive, that has not materialized. we are keeping a close eye, the only average it is up, with records from all three yesterday.

stay with us. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes.

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when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. neil: >> reporter: the president's economist are trying to put pressure on state and local governments to change zoning laws some more affordable

housing can be built, policy proposal saying zoning laws are standing in the way of making housing more affordable, quote, housing shortages and affordably have risen over the last 60 years, in large part because local land-use policies that restrict housing density and what can be built. local governments can be persuaded to change zoning law if they dangle a carrot of taxpayer cash to do through offering tax credits and subsidize construction costs. that's not the only push to make housing work affordable. progressives are pushing for changes that let the government use taxpayer money to start building public housing they own and to fix the housing shortage. >> we need to make sure when we talk about housing it's not just who can afford a mortgage but who can afford rent. we set that teresa. it creates, puts pressure on the market and they have to compete with our rent, not us

suffering because of the high prices of their rent. >> reporter: the government tried this before where they build public housing and played the role of a landlord that didn't work out so well so they stopped doing it under president bill clinton but progressives want to bring it back and give the government another shot at playing landlord. neil: the government the answer to make housing costs go down? the debt you limitation expert, ramsey show cohosts. everyone wants to save money and get costs alleviated but does the government play a role? >> reporter: all these policies in effect to level the playing field in some way. to level the playing field, take control of your personal finances and for most of us that stops, starts with

illuminating debt and having savings and getting in a financial situation. something happens when you get into that situation. all the other things just noise and able to fly above. they are not the thing that saves you. the thing that will save american people is by saving their own personal finance. get out of debt, stay out of debt, save up the money you need to purchase your home. neil: is a brilliant. one of the things we forget, the government might come in and offer you a mini parachute, but you are the one jumping off on that commitment. unless you have a wherewithal to do that, that's not going to happen. lauren: 1 he can agree the economy has been a roller

coaster, most americans are feeling sick and we can control that. a lot of times i talk about the pillars of personal-finance starting with you living a debt-free lifestyle. you, taking control of your life, having the right savings and when you do that mortgage rates everybody wants lower mortgage rates, everybody wants lower interest rates. not saying that is not a factor but when you have the financial home in order, they are conveniences cannot the thing that saves you. neil: there's a possibility rates go down and might afford a bigger mortgage or might be incentivized to borrow more against their home. it could be the solution and the curse. what do you tell folks who feel that is tempting? we can spend more.

>> we have a short memory. times are hard because of our debt and payment, i can borrow money at a lower interest rate, and you can't solve a problem while simultaneously creating a. there might be a time in the future you can borrow, we need to remind ourselves that debt is the problem. there's a reason the majority of americans are living paycheck to paycheck, giving the biggest wealth building tool to dave ramsey, their income, giving it away and payments every month. there has to be a time, which person am i going to be? people who are financially stable ask how much, broke people ask how much per month. neil: thank you, good seeing you again. in the meantime, 186 points, nasdaq is the only one doing well so far.

interest rates relatively -- the inflation fear is not really that pronounced. signals seem to be for the federal reserve that rates will come down, and it will be a big story going forward. ♪ ♪

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neil: the house approved a budget of $1.2 trillion to keep the government functioning on some timber 30th, the senate makes the next move but might not come tomorrow, special saturday shows every week. donald trump has to come up close to half $1 billion, he says he has the cash. are we looking at the state attorney general? we will know on monday. let's go to jackie deangelis and "the big money show". jackie: i will watch with coffee on the couch tomorrow morning.