Government spending spree continues as consumer prices surge
'Your World' panelists discuss JPMorgan Chase CEO Jamie Dimon's warning that Congressional spending will raise inflation.
This is a rush transcript from "Your World With Neil Cavuto," May 31, 2021. This copy may not be in its final form and may be updated.
CHARLES PAYNE, FOX NEWS ANCHOR: The grills are fired up, the travel is heating up, and your bills, well, they just keep going up.
Hello, everyone. I'm Charles Payne, in for Neil Cavuto, and this is a special Memorial Day edition of "Your World."
And FOX on top of Americans getting back to having some summer fun, as the great reopening continues. What is not so great, those price spikes we're seeing. And with Washington planning to keep on spending, are higher prices here for a while?
We have got you covered, folks, with Alex Hogan on how shoppers are paying more at the store, Gerri Willis on how drivers are dealing with the pain at the pump, and Casey Stegall on how flyers are returning to the skies.
First to Alex in New York City -- Alex.
ALEX HOGAN, FOX NEWS CORRESPONDENT: Hi, Charles.
Lots of festivities taking place today around the country. If you picked up fresh fruit, the price of this went up about 1.5 percent since April. If chicken made the cut for your menu, you're probably paying 31 percent more than this time last year.
Right here, this tray of chicken wings in New York City cost me about $9, whereas, last year, it would have cost about $6.87. In the last 12 months, food prices increased 2.4 percent. Eating out isn't much better. Restaurant food jumped 3.8 percent.
In the last 12 months, the Consumer Price Index numbers jumped 4.2 percent, exceeding the 3.6 percent expectations. It's the greatest increase in 12 years. Keep in mind, economists attribute much of that to the economic fallout during the pandemic.
The last time inflation grew this much was 2008, after the Great Recession. This economic report lays out additional consumer price changes this year. In terms of travel and transportation, used cars and trucks spiked 21 percent. Motor vehicle insurance is up, as well as airline fares, something that experts say will only increase and continue to rise as we head into summer.
AAA predicts 37 million Americans will travel this Memorial Day. And that is a 60 percent jump, despite higher gas prices. This holiday, you will likely be paying for more at the grocery store for those holiday barbecues. But just to make matters worse, the Department of Agriculture says prices are likely to continue to increase throughout the year -- Charles.
PAYNE: Thanks, Alex.
So, Americans are spent. And Washington, well, they just keep on spending. Now a top banker is issuing this warning:
(BEGIN VIDEO CLIP)
JAMIE DIMON, CHAIRMAN, J.P. MORGAN CHASE: As all that spending takes place, but, yes, it will raise inflation. I think there was nothing wrong with 1.6 percent. I would expect it to go considerably higher than that.
(END VIDEO CLIP)
PAYNE: So, if Washington keeps shelling out the green, are you going to be paying more green for a while?
Let's get to read from Gary Kaltbaum, Nick Adams, and Desiree Tims.
Gary K., let me start with you.
GARY KALTBAUM, FOX BUSINESS CONTRIBUTOR: Nothing good happens, Charles.
Look, this is a complete restructuring of the economy to be government- centric and out of business and people's hands. We're not talking about a little extra spending. To think that President Biden is proposing $6 trillion, when he knows that less than $4 trillion will come in, we're talking $2 trillion of debt.
And then it's going to grow to over $8 trillion in federal spending in the years coming up. This will guarantee simple things, higher unemployment, less GDP, and less money coming into the Treasury, while just killing upward mobility in the business field.
I don't even know where to begin. It's surprising -- or unsurprising, the numbers. And I'm hoping two words (AUDIO GAP) gets in the way. And I may be sending him a letter every single day until this thing gets going.
PAYNE: All right. And, believe me, I know you will follow through on that.
In the meantime, Nick, consumers are already feeling this. Consumers are already complaining about this. And we just heard Alex Hogan saying that these experts believe this continues. And it stands to reason, if we keep pouring trillions of dollars into an economy that's already recovered, then prices are going to even go higher. Consumers are going to get crushed.
NICK ADAMS, REPUBLICAN STRATEGIST: Of course it does, Charles, and of course they're getting crushed.
I mean, President Biden promised during the campaign that he would dial down the temperature, but he didn't say anything about dialing up the costs, from lumber to steel to use cars to food to gas. People are paying far more in the last few months than they were in the previous four years.
And that's because of the policies of the Biden administration. Look, let's give a little bit of perspective on this, Charles. The reality is that if Jesus had lost a million dollars every year from the time he was born, he'd still be in a better financial position than the United States government right now.
We don't have this kind of money. Republicans are going to benefit from this, if we look back to 1968, and we look back to 1980, after the Johnson and Carter administrations...
PAYNE: Yes.
ADAMS: ... high inflation. Republicans are going to get elected, but it's going to hurt a lot of people.
And the Biden administration is doing the wrong thing.
PAYNE: Yes.
Desiree, I mean, we know the political gambit here, because, to Nick's point, we have seen it before. What do you say to people who say, listen, OK, the economy's come back, but even my paycheck went up, but I'm actually able to buy less with it? In other words, in real life, this inflation stings. It stings the average household that President Biden always says he wants to be the champion of.
DESIREE TIMS, DEMOCRATIC STRATEGIST: So, I trust Secretary Yellen and economic experts in the Biden administration to continue to watch the inflation rates.
But what we know is, under President Biden's Build Back Better plan, we have created more than 1.5 million jobs. And people in Ohio are excited to get back to work. But we know that the pandemic was real and that our small business owners and our low-wage workers are eager to get back to work into good-paying jobs.
And I am confident and I'm actually optimistic about the future of our economy. I do find it odd that people who supported President Trump's tax plan had no gripes or no concerns about the rising deficits. And unlike President Trump, President Biden has an actual plan to pay for his infrastructure package and the bills that he is championing in order to build back better and get our country and our economy back on track.
PAYNE: Well, I mean, Gary K. mentioned this budget. It's going to be a trillion-dollar deficit for as long as the eyes can see.
I think there's a distinct difference by me saying, hey, we're going to tax cut and allow people to keep more money that they earn, rather than saying, we're going to build this gargantuan government, where we create more entitlement programs, a greater welfare state, and to get that, we're going to have debts already at $28 trillion to a number we have never fathomed them before, and tax successful people.
It's a dangerous gambit. I know you're confident in Janet Yellen. But she's not foolproof. And I think history plays a role in this as well. I mean, what do you say that people who already are complaining about paying more for everything when they go out to the supermarket?
TIMS: I am confident that the people understand what's at stake and how we're trying to build back better and get our economy back on track.
Look, prices have been going up for years and years and years. And, finally, we're asking corporations to pay their fair share and pay workers more, so that we can afford the cost of goods. This is not a new concern.
I think what is a concern that has also been ongoing is the potholes that people are swerving out of the way when they're driving down the highway. Look, people in Ohio want to be able to get back and forth to and from work in a way that safe.
PAYNE: Yes.
TIMS: And we support -- people in Ohio support the bills that are coming out of the Democrats' Congress and what President Biden is championing.
PAYNE: Yes, I mean, Gary, I have got about less than a minute, but just your thoughts on all of this.
I mean, yes, we all know we want to fix potholes. But that's not what we're talking about here. This is -- we're talking $4 trillion in new spending and a $6 trillion budget.
KALTBAUM: Well, I need a couple of hours on this one, Charles.
But, look, here's the problem. We keep hearing, oh, we're taxing the, wealthy, we're taxing the rich, it's only the half-percent, it's only the 1 percent. But what about the lower-income and middle-class people that are trying to move up in life and trying to become wealthy?
Well, they're raising taxes so much, every time somebody gets a little bit more successful, they come at them and take a little bit more out of their hide, making it tougher to become wealthy, tougher to produce, tougher to become successful, and tougher to build a business.
PAYNE: Yes.
KALTBAUM: Why? Because they're making government ever more bigger and the economy ever more smaller, and nothing good will end up coming with this, when all is said and done.
PAYNE: Yes.
And, by the way, some very smart Democratic -- Democrat economists like Larry Summers and Steve Rattner agree with that.
(CROSSTALK)
PAYNE: Thank you all very much on this Memorial Day. Appreciate that.
Meanwhile, drivers still hitting the road, despite the hit to their wallets. Is this the start of a summer surge?
And on this Memorial Day, meet a woman who lost her brother as he was defending our freedom. Now she's making sure that his memory and the memory of others like him will never be lost.
(COMMERCIAL BREAK)
PAYNE: Holiday road-trippers are back in action, despite gas prices hitting their highest Memorial Day level in seven years.
Gerri Willis is in Darien, Connecticut, with the latest -- Gerri.
GERRI WILLIS, FOX BUSINESS CORRESPONDENT: Hey, Charles, that's right.
Americans eager to travel, getting on the road this summer day holiday season. For the Memorial Day weekend, 34 million of us will be traveling by car. And we're going to be facing some sky-high prices for gas, in fact, seven-year highs for Memorial Day weekend, just under $3 a gallon. That's $1 more than last year.
We talked to customers here at the service plaza. And they said they don't like this, not one little bit. Listen.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: Am I happy about the gas prices? Not really, no, because -- and they just keep going up and up and
UNIDENTIFIED FEMALE: up. You know, I think it's a little nutty. I got to be honest. I think that they're not thinking it through. I think that it's just not only impacting families, but it's impacting businesses at every level.
UNIDENTIFIED MALE: I think they're a bit ridiculous. And I'm hoping that they decrease sometime very soon.
UNIDENTIFIED MALE: The prices, they go way too high. It's about $1 more than it was a year ago. So, I'm not happy with that.
(END VIDEO CLIP)
WILLIS: Well, even so, increased numbers of vaccinations are leading to what the industry calls vaccications, much higher, because why? Well, because people have been shut down in lockdown for over a year.
And now those mothballed restaurants, attractions, hotels, you name it, they're really gearing up for a lot of people at their front doors this summer. And that's going to mean long, long lines. So, you got to get ready for that.
And, Charles, as I send it back to you, I just say this. Pack your suntan lotion and your patience, because you are going to need it. It'll be bumper to bumper out there -- Charles.
PAYNE: Yes, welcome to the post-COVID utopia.
Gerri, thank you so much.
And it's not just the roads seeing action, travelers also taking to the skies.
The Casey Stegall in Dallas/Fort Worth International Airport -- Casey.
CASEY STEGALL, FOX NEWS CORRESPONDENT: Hey, Charles. Good to see you.
Here is some context, all right? Last year at this time, heading into summer, the TSA says that roughly 344,000 passengers were being screened across the nation's airports. Now flash forward to today. That number is now at around two million, according to the TSA, almost pre-pandemic numbers, not just yet, but certainly a whole lot more than just one year's time.
In fact, the agency says it plans to hire some 6,000 new TSA agents by Labor Day to meet the increasing traffic. Until then, experts warn of long wait times at the nation's airports, and not only limited flight availability as well, but they say get ready for high prices and to pay more.
(BEGIN VIDEO CLIP)
PAULINE FROMMER, DIRECTOR, FROMMERS.COM: For domestic travel, it's going to get tighter and tighter and tighter. So, if you want to travel within the United States, book yesterday, or book now, at least, because attractions are selling out, hotels are selling out, air fares are rising.
(END VIDEO CLIP)
STEGALL: And despite CDC guidelines recently changing for vaccinated Americans, masks are still required inside most airports and on all commercial flights, unless you're eating or drinking.
But there is no doubt, after quarantine and after a year of people sitting at home, folks are anxious to get back out and travel. So, if you are one of them, be sure and pack your patience -- Charles.
PAYNE: Thanks so much, Casey.
Well, if my next guest is right, travelers can expect a busy summer on the roads and in the skies in -- well, just about everywhere.
Let's talk to Gabe Saglie. He's a senior editor at Travelzoo.
Gabe, we're all excited. We all have cabin fever. And I guess maybe that's the problem, right? It looks like everyone's going to hit the road at the same time.
GABE SAGLIE, TRAVELZOO.COM: We need very little excuse, Charles, to get out there and enjoy the summer season.
I submit that the summer season began, certainly, before this holiday weekend. In the middle of April, we started to see your numbers really ramp up. People are having a little bit more flexibility with -- even within their -- the confines of their work schedule.
So, travel has begun. I'm thinking it's going to go beyond Labor Day. September, which is usually a period where we see a bit of a softening in demand and in bookings, is looking very strong in destinations like Florida and Hawaii and California. So I think it's going to be a longer summer season, Charles, as we tap into that pent-up demand. We have been talking about it for a couple of months.
And now we really are seeing that intent turn into action and those numbers are going up in a big way across the board.
PAYNE: Now, here's what else is going up, right, prices, whether you're driving the pump, $3 -- over $3 for the national average.
I'm reading every day where airline fees are starting to go up. Some people who were brave enough or whatever to travel during the COVID period, they had some pretty deep discounts. How long will people deal with that? I mean, or is it just that we, again, had so much cabin fever, and we just want to get out, we want to feel that freedom, that will be OK, able to just suck it up for right now?
SAGLIE: I think so.
In Gerri's report there, people were complaining about the gas prices, but they were at the gas pumps filling up probably to prepare for their next road trip. I'm here in Southern California, where it's hard to find anything for the cheap stuff below $4.35 a gallon. So, $3 sounds really good to me.
(LAUGHTER)
SAGLIE: But, yes, we know that it's about $1 more year over year at the gas pump.
But the fact of the matter is that we're finding that people, the travelers, especially the traveling community, sort of that leading edge of travelers who are already hitting the road and certainly will over the course of the summer, are willing to pay a little bit more this year.
Maybe they have had -- they have more travel bucks in their pocket books now because they didn't do that traveling last year.
PAYNE: Sure. Sure.
SAGLIE: They're not doing the travel for business that they're used to. And, therefore, there's a willingness to spend a little bit more in travel, to spend a bit longer on vacation than they would have naturally.
And in Casey's report, where we're seeing the TSA now, we are at 70 to 90 percent of pre-COVID numbers as far as the number of people going through TSA security.
PAYNE: Wow. Wow.
SAGLIE: And that is a very positive sign for the airline industry that's on a month-to-month basis adding flights out there to meet demand that, in some, cases, has really sort of -- for example, in the rental car industry, has really caught them by surprise.
PAYNE: So, Gabe, I have got less than a minute to go.
I was on Travelzoo, your Web site, looking at some of these bargains. I saw 89 -- 83 bucks for a bed and breakfast in Washington, D.C.
Are a lot of these kind of values still out there to be had?
SAGLIE: Yes, listen, big city destinations are still the bargain of the day, simply because business travel is still very, very slow out there.
So, those folks who want to fill that Sunday-through-Thursday period are not traveling. So, that's where you find some fantastic bargains in D.C., in New York City, in San Francisco. If you're looking to go to a more remote destination, beach getaways, a national or a state park, that's when you want to really start booking immediately.
PAYNE: All right.
SAGLIE: And, really, the better availability is in the latter part of the summer season.
But, yes, the bargains right now are big cities and for people traveling beyond summer, international travel Europe, included, a big bargain right now as well.
PAYNE: Gabe, great, great, great stuff. I appreciate it.
Thanks a lot, my friend. Appreciate it.
Well, a mixed May for your money, but, so far for the year, you're doing great. Now, though, what happens with these tax hikes ahead?
And from Bond, James Bond, to Bezos, Jeff Bezos.
(COMMERCIAL BREAK)
MIKE EMANUEL, FOX NEWS SENIOR POLITICAL CORRESPONDENT: I'm Mike Emanuel in Washington. Here's a look at today's headlines.
President Biden says democracy is in peril in the U.S. and around the world. The president made the comments during the Memorial Day speech at Arlington National Cemetery. He said the soul of America is animated by the perennial battle between our worst instincts and our better angels.
America is returning to normal on this Memorial Day weekend, as crowds gathered together, often without masks and with immunization against the coronavirus. New York City, once an epicenter of the pandemic, is now a symbol of the comeback, with stores reopening and tourists returning. But, unfortunately, crime is also returning with them.
A senior Russian security official says his country would be ready to use force to stop what he described as unfriendly actions by other countries. The comments come ahead of a summit between Russian leader Vladimir Putin and President Biden next month.
I'm Mike Emanuel in Washington.
Please join me for "Special Report" live at 6:00 Eastern -- now back to "Your World."
PAYNE: Well, it's been a great start to the year for your money on Wall Street.
But with the White House and many Democrats still pushing tax hikes, is this something all investors need to be watching over the next few months?
Let's get the read from our market gurus, Scott Martin and Kimberly Foss.
Kimberly, your thoughts?
KIMBERLY FOSS, EMPYRION WEALTH MANAGEMENT: Yes, no one wants to pay more taxes, Charles. I mean, we know that.
But the bottom line is, I think that investors have a higher worry. And that is inflation, as opposed to tax policy. But if something were going to be hurt from increased tax policy, it's probably going to be the growth market.
But if you took a dollar, Charles, and you invested that in 1926 in the S&P 500, and that's adjusted for inflation, even so, it'd be worth over $500. And it'd be worth way more, the purchasing power would be way more, adjusted for inflation, than basically the taxes along the way.
So, you're still -- we don't have to really necessarily fear the Grim Reaper of tax policy. But, certainly, we don't want to pay more than we share -- our fair share.
PAYNE: Sure.
I mean, and, listen, I use those analogies a lot myself, Scott, but, in real life, when markets are volatile, and they are reacting to things, whether inflation, whether tax policy, whether the Federal Reserve, it's hard to stay long.
It's hard to say long over 100 years, like Kimberly described. Sometimes,for some investors, it's hard to say long for a day if you feel too uncomfortable. And I think there's going to be a point somewhere this year where the markets do start to get a little jittery over higher taxes, particularly capital gains.
Your thoughts?
SCOTT MARTIN, FOX BUSINESS CONTRIBUTOR: Yes, 100 minutes sometimes it's too long these days, especially in the cryptos.
Charles, you're right. And then Kim points us out too. The ride is a good ride, whatever the time frame is. And it has to be logical. It has to be five, 10, 15, 25 years. I mean, that's what we do at our firm, Kingsview. We plan for clients and we assess the length.
And the ride is going to be a good ride. But the ride isn't linear. It's not point 0.05 percent every day. It's a volatile ride. It's a little bit of a roller coaster.
But with any risk, you get reward. I mean, look at last week, earnings from Salesforce, earnings from Nvidia. We made some great repositions in our portfolios off of those earnings, because those are strong, high-conviction companies that you, as an investor, can own over multiple market cycles, and get that breadth of prosperity that they offer to the overall growth market, that you really can't get a lot of other places.
PAYNE: Yes.
MARTIN: So there's just great reward in riding out those risks.
PAYNE: So, to that point, Kimberly, this is one of the greatest market runs in history, if you go back to March 23 of last year.
And I have seen it juxtaposed against major bull markets going way back. And whether it's a coincidence or not, this is right at the point where it starts to kind of pull back. And there's always this sense that we're due.
What are you saying that people? Because inflation is an issue, right? The Federal Reserve is an issue. And there's a sense or feeling that maybe we're just kind of due, because it's been so good. What are you telling people?
FOSS: Oh, my gosh, this market has gone crazy. I was just looking at some of the returns in the growth portfolios of our since March of last year. And we're like 114 percent.
I was like, I had to look twice to like make sure that I was seeing the number correctly. But, yes, I mean, the bottom line is, investors are investors, right? That's for the long term. So you need to have a strategy to be able to, as Scott said, ride these ebbs and flows throughout the whole market and not get too greedy.
And the greedy thing is the thing I fear about, as my clients, is to try and keep them from being greedy. But the bottom line is, like, things do go in ebbs and flows. And like, last year, the growth markets were great, up 90 percent.
But value stocks for the last three years have absolutely plummeted. But all of a sudden, now what happens? The value stocks in last quarter has gone phenomenal.
So, the bottom line is, people need to be in check with their portfolio, look at the exposure to equities vs. bonds, look at their time frame, this whole thing over again.
PAYNE: Right. Right.
FOSS: But that's the long-term effect, because guess what? You carve off those gains, put it into your fixed income. That's how you grow wealth over a long period of time.
PAYNE: So, we got less than a minute ago, Scott.
What is the greatest risk, in your mind, at least for the rest of this year?
MARTIN: It's the administration.
I actually don't think it's inflation. I don't think inflation is going to be that crazy. And, in fact, we have kind of been in a deflationary environment since the financial crisis. And, actually, if we get a little bit of inflation that's not crazy, granted -- we're not talking about Jimmy Carter 1970s -- hold your horses there -- but some decent inflation, 3, 4 percent, that's going to show up in equity prices as far as appreciation, because some of these companies have pricing power.
I think it's the administration, Charles. I really think it's tax policy, it's foreign policy, it's domestic policy. There's risks there that the market has not had to experience even since like the early days of the Obama administration, frankly.
PAYNE: Yes.
MARTIN: So, there's an adjustment period coming there. But that would be a buying opportunity if we get a sizable pullback.
PAYNE: I love that you have talked about deflation and inflation. The Federal Reserve has been trying so hard to get some inflation, that maybe they will breathe a sigh of relief if we do see more.
Thank you both very much. Have a great Memorial Day.
Meanwhile, folks, through the great reopening, as COVID restrictions keep on lifting, coming up, a restaurant owner on how it's all going.
And the summer season just getting started, but a lot of workers are wondering what life will look like in the fall. And we have got the answer next.
(COMMERCIAL BREAK)
PAYNE: As we kick off the unofficial start of summer, workers wondering, what's in store for the fall?
Now a new report and may have the answers. According to the research firm Forrester, 70 percent of U.S. and European companies, well, they're planning to pivot to a hybrid work model post-pandemic. So, is this the new normal?
Well, let's ask Internet radio host Mike Gunzelman and Washington Examiner's Kaylee McGhee White.
Kaylee, hybrid, in the office a couple days, at home a couple days, you like that?
KAYLEE MCGHEE WHITE, THE WASHINGTON EXAMINER: I think it's a great idea, personally. I -- especially as a woman.
Women were disproportionately affected by the shutdown, and many of them ended up leaving the work force in order to be home with their children, since schools were shut down. And if you offer women a more flexible schedule of, hey, you can come into the office a few days here and there, or you could work from home part-time, I think that would be a great way to get a lot of them back in the work force.
PAYNE: Mike?
MIKE GUNZELMAN, FOX NEWS HEADLINES ENTERTAINMENT REPORTER: Well, Charles, my big thing is, I'm still remote right now. And I'm worried about my clothes when I go in, because I had to go to a wedding last week.
(LAUGHTER)
GUNZELMAN: And I put on suit pants for the first time in a year. And they didn't fit. So, I decided to go and grab a new suit for the wedding.
PAYNE: Yes.
GUNZELMAN: But, in all seriousness, though, I think that the hybrid schedule is here to stay.
And from a commonsense aspect, it just makes sense because of just time and time consumption. Waking up early, having to get ready, and then also commuting can take an hour, 90 minutes, two hours. That can be actually put to good use to actually work in that time.
And, also, I think people have become accustomed to it. And now, when you actually would go to the office for the hybrid schedule, you get things done, and time management would work that much better.
PAYNE: Yes.
GUNZELMAN: So, I think it actually makes sense. Continue with the hybrid schedule when people actually get back to work, for sure.
PAYNE: All right, well, write this down.
We will start with the hybrid, but if productivity doesn't work out, summer 2022, everybody back in the office. That's all I'm predicting.
(LAUGHTER)
GUNZELMAN: All right, deal.
PAYNE: Hey, now I want to take a look at this.
(BEGIN VIDEO CLIP)
EUNICE GAYSON, ACTRESS: I need another thousand.
SEAN CONNERY, ACTOR: I admire your courage, Miss...
GAYSON: Trench. Sylvia Trench.
I admire your luck, Mr.?
CONNERY: Bond. James Bond.
(END VIDEO CLIP)
PAYNE: How about Bezos, Jeff Bezos?
(LAUGHTER)
PAYNE: Amazon buying MGM Studios for about $8.5 billion.
Now, of course, that includes the entire James Bond catalog and a whole lot of other stuff. Now, many are wondering if this is a move away from theaters to streaming.
Gunz, what do you think?
GUNZELMAN: Well, I think, listen, it's a smart move by MGM. They realize that they need to get involved in streaming. Why not go with one of the biggest ones, with Amazon?
Amazon, on the flip side, realizing that it's all about content. Whoever controls the most content is king. But with this deal in particular, what the owners of Bond, or at least those that still have creative control over it, they're saying that they are still going to release the Bond films in theaters.
I love that move. There's such a focus and a push to make everything on demand and really put it on streaming services, et cetera, that I really think that has an effect on how things are being made and produced.
I love the idea to still have movies in theaters and then have them go to streaming services.
PAYNE: Yes. Yes.
GUNZELMAN: But we have seen this. Disney, a couple of weeks ago, made the deal with Sony. They acquired the rights of "Spider-Man."
So now Spider-Man is part of Disney. So we are seeing these acquisitions happen all across the media landscape.
PAYNE: It's all about content, for sure.
But, Kaylee, in this particular case, what Gunz is saying, going back to the movie theater, do you see it? I mean, are you going to go back? Do you think people will?
MCGHEE WHITE: This is coming from someone who honestly didn't go to the movie theaters a lot even before the pandemic.
And I think that this trend towards predominantly streaming services has been happening for a long time already, especially with the rise of Netflix, and now you have Amazon Prime Video and so many other streaming services, that, if you pay for all of them, you're literally paying more for your streaming services than you would be if you just bought cable, but besides the point
From a convenience standpoint, it is a lot more convenient to be able to stream the newest movie that's out than it is...
PAYNE: Yes.
MCGHEE WHITE: ... to go and pay $25, depending on where you live, and then for popcorn, and all of that. And it's so...
PAYNE: I thought this generation was all about getting out of the house.
I'm so surprised, Kaylee.
GUNZELMAN: I'm there. I'm there. I want to go out.
PAYNE: I thought you guys like experiences.
(LAUGHTER)
PAYNE: You're like -- you want to work from home. You want to watch movies from home. Are you going to go out?
(LAUGHTER)
MCGHEE WHITE: Well, maybe I would if we were allowed to bring our own snacks and our own blankets into a movie theater. How about that?
(LAUGHTER)
PAYNE: Sounds good.
I got an 85-inch screening, and I will watch Bond at the movie theaters. You must watch Bond at the movie theaters.
GUNZELMAN: Yes. Yes.
PAYNE: All right, then there's this..
In just in a few days, get ready to pay up, and I mean big time, at Disneyland for the newest attraction. It's a sandwich, a $100 sandwich. Now, there's a catch it. The pricey panini is meant to serve between eight -- six and eight people.
So, Kaylee, begins on July 4. Are you a buyer?
MCGHEE WHITE: You know, I don't think that I would go to Disneyland just for the sandwich, but, I mean, maybe if I'm there with eight or six other people, who knows? Maybe I would try it.
I think that the main reason you should go to Disneyland is for the Dole Whip, personally, not for a panini, but whatever floats your boat, I guess.
(LAUGHTER)
PAYNE: All right. By the way, it starts on June 4.
So, Gunz, you don't have to wait that long. You could get down there in a couple -- in a couple of weeks -- in a week.
GUNZELMAN: Listen, I love Disney World. I love Disneyland. I have an absolute blast.
If anybody's watching, send Gunz there. I need to go back. I'm all about Disney.
But I looked at what this $100 sandwich is. It's just salami, ham, provolone, and sun-dried tomato spread, with like marinara sauce. Like, what -- for $100? Charles, if I'm spending $100 on anything, it's a bottle of champagne or a nice bottle of wine, all right, not a sandwich with salami and ham and cheese on it.
What are we doing? Come on.
(CROSSTALK)
PAYNE: It looks good, though.
I mean, listen, if you have been to the U.S. Open or to the Madison Square Garden, I mean, it's not a big -- it's not a far leap.
Now, Kaylee, that's where you need to bring your own food if you go.
MCGHEE WHITE: No, exactly.
I mean, any time that you go to an amusement park or, like you said, Madison Square Garden, a stadium...
PAYNE: Yes.
MCGHEE WHITE: ... you're paying astronomical prices for food anyway, so whatever.
PAYNE: Yes.
GUNZELMAN: It's $100, $100.
PAYNE: I hate to say it. I would buy it, but, sadly, I would eat most of it myself. I hate to admit that.
You two have been fantastic.
Kaylee, you got to get out more.
(LAUGHTER)
PAYNE: So, masks are off for many. Capacity limits are easing.
So, are businesses coming back? What one New York bar owner is seeing is next.
(COMMERCIAL BREAK)
PAYNE: Today closes out Small Business Month, but given the hell they have been through these past 14 months, there's a push to support them throughout the entire summer.
How's my next guest making out with her reopening?
E's Bar owner Erin Bellard joins me now. She's in New York City.
So, Erin, how's it going? How's the reopening going?
ERIN BELLARD, OWNER, E'S BAR: Hi.
So much better.
PAYNE: Talk about business. Was there pent-up demand? Did everyone flood you? I mean, everyone's thrilled. I mean, is it feeling like normal?
You look -- I mean, I can feel the optimism, but tell us about it.
BELLARD: Well, so, it's interesting.
So, we're only allowed, in New York City, to go to 100 percent occupancy if everyone we allow in is vaccinated. So, for us, we're doing a vaccinated section and a non-vaccinated section, kind of similar to like smoking and non-smoking used to be.
So, there is definitely a feeling of people are out and are excited. And in the vaccinated section, there's no restrictions. You can stand at the bar, order at the bar. There's no Plexiglas.
And then, for those guests that are not vaccinated, we're still seating them in a different section, socially distanced, and between Plexiglas.
PAYNE: And are you seeing like a ton?
I saw a survey a couple of weeks ago that said that, ironically, people with the vaccination were more intimidated about going out than non- vaccinated. So, are you seeing an equal demand from both sides, like, it doesn't matter whether they have been vaccinated or not, they want to get down there and have fun at your spot?
BELLARD: I think, because we're on the Upper West Side, where over 70 percent of the residents are vaccinated, we have really not run into an issue.
For the most part, I'm finding all sections are full.
PAYNE: Good.
BELLARD: And the first thing, when someone sits down at the bar for the first time, we're hearing it from a lot of people that it's like they're so excited just to rip the mask off and have a beer.
So, I think that there's like a big sense from the vaccinated people that they're so excited to be back to normal.
PAYNE: Right. Right.
Is there a greater sense of community? I mean, I know that this is a community spot. We have all been through this together. And even strangers, you feel connected to them. Are you seeing that?
BELLARD: Yes.
And I find there's a lot of neighborhood support for small businesses. People are specifically coming out to spend money at their favorite local spots.
And the other thing that I have noticed which is interesting is dating coming back, because we're a big first date kind of place. We have over 200 board games. So, there's something to do when you meet somebody. And we have noticed that that is returning. So, people are ready to kind of get out there and meet new people again.
PAYNE: Yes, I don't know if I'm going to go down that path.
No, I'm just joking.
(LAUGHTER)
PAYNE: So, what's the top -- what's the top thing that people are asking for? Is it a beer? Is like, yes, rip off the mask and get a beer? Is it like any kind of food item? What is it that they really missed?
And then it can't be the same on home delivery, because there are things we have delivered, and it just doesn't taste the same by the time it gets to the house.
BELLARD: One hundred percent.
You know what? No matter who you order French fries from, they do not travel well. So ,I find people wanting fresh French fries, a burger right off the grill, and, oddly enough, a lot of Manhattans and a lot of Negronis.
(LAUGHTER)
PAYNE: All right.
Well, I told you last time we talked I'm going to come see you one day. So don't be surprised when I pop in there.
I'm really thrilled for your success. I'm really happy you...
BELLARD: Oh, my gosh, please do.
PAYNE: OK, I will.
And I'm glad you hung through this, Erin. It's been tough for all of us. And we're all thrilled for you.
BELLARD: Thank you so much.
PAYNE: Thanks so much. Happy Memorial Day.
And, of course, on this Memorial Day, we remember our nation's fallen heroes.
I want you to meet the Gold Star sister helping people around the country honor their loved ones who have served and sacrificed from afar -- after this.
(COMMERCIAL BREAK)
PAYNE: This Memorial Day, we pay tribute to those who gave the ultimate sacrifice for our country.
The Honor Project is making sure our nation's heroes are not forgotten. It's an initiative which mobilizes volunteers to visit fallen service members at Arlington National Cemetery on behalf of their families and their friends.
Organizer Ryan Manion joins me now. And she is a Gold Star sister of U.S. Marine Corps 1st Lieutenant Travis Manion and president of The Travis Manion Foundation.
Ryan, first and foremost, I want to say thank you so much for being here.
And tell us how this Honor Project started.
RYAN MANION, THE HONOR PROJECT: Well, thanks so much for having me.
The Honor Project actually started with a young woman named Emily Domenech, who last year visited Arlington National Cemetery to visit her grandfather and realized that, because of COVID restrictions, there wasn't a lot of opportunity for friends and family to get to the cemetery.
And so she put out a simple tweet asking people if they wanted her to go and visit their loved ones' graves. And she got a lot of response to that. And she linked up with us. And, together, we have formed The Honor Project, where, this year, we will be visiting 4,000 graves.
And we have had volunteers all weekend who have joined us throughout Memorial Day weekend and visited these graves to honor the service and sacrifice, but also to find a tangible way for them themselves to pay tribute to our nation's fallen.
PAYNE: How do people get in touch with you? Is it through social media? Is there also a Web site?
MANION: Well, today, you can help be a part of The Honor Project.
If you're not at Arlington with us, what you can do is you can go online and search a fallen service member. It's as easy as Googling fallen service members. And you will find thousands of stories.
Take one of those stories and share it yourself. Share it on Twitter, or Facebook, Instagram, any of your platforms #TheHonorProject, and share those stories.
As a Gold Star sister myself, I can tell you that the most important thing for us is to know that our loved ones are not forgotten. So, if you do anything today, find the story of a fallen hero, learn their story, and pass it on for others.
He was -- he was actually killed in Iraq in 2007. He was a 1st lieutenant in the Marine Corps killed on his second deployment to Iraq. And he was an incredible individual who I miss so very deeply.
But his service and sacrifice, I could not be more proud of.
PAYNE: And before The Honor Project, in addition to this, what else -- what other projects is does the Travis Manion Foundation do? What else are you working toward?
Because I personally can't get enough of these. My father served in Vietnam. He was a career military man. I was in the Air Force. And I just love to see these sort of things thrive. So, tell us more about everything you're trying to achieve.
MANION: Well, after Travis was killed in Iraq in 2007, our family started the Travis Manion Foundation.
It was started first as a small memorial fund outside of Philadelphia. And, today, we have grown to one of the nation's leading veterans service organizations, with over 130,000 members across the country.
And really, for us, it's about making sure that, as our veterans are returning home and taking off their uniform, their desire to serve does not go away. And we want to continue to give them opportunities to serve across the country, and they are our nation's best civic assets.
So, for us, it's about making sure we're providing them with opportunities to showcase that and strengthen communities across the country.
PAYNE: Ryan, tell us about the response. Are you feeling that support?
I personally believe there's no part of our country that is more highly thought of than our service men and women. I just can't think of any other part, establishment, foundation, anything. I think we all look up to them.
Are you seeing that?
MANION: I do.
Each and every day, I'm inspired by our military community. I'm not only the sister of a Marine, but I'm the daughter of a retired Marine Corps colonel. And I know what it means to live a life of service. I learned that at a very young age.
And anything we can do to draw the 99 percent of those that are not connected to the military, do not serve to the 1 percent that do, I think it's super important.
And, today, on Memorial Day, seeing hundreds of people come out and visiting Arlington National Cemetery as volunteers and the support we have gotten throughout the Internet on -- through social media, through the campaign with sharing the names, it's incredible.
And I think people are just looking for a way. They need to...
PAYNE: Yes.
MANION: They're asking for a way: How do I get involved?
And for us at the Travis Manion Foundation, we always want to give them that avenue to get involved, to honor our fallen, and to make sure we are understanding and recognizing the importance of the men and women who serve in uniform.
PAYNE: Well, I obviously would say thank you to your brother for his service and his sacrifice, your father, but also to you.
You may not be in the military, but what you're doing is so vitally important. And I think you know that, but I'm sure you probably don't get told that enough. And I just want to salute you and everyone else that's following your lead.
Thank you so much, Ryan. And God bless.
Well, that's all the time that we have for today, folks. Neil will be back tomorrow.
"The Five" starts right now.
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