This is a rush transcript from "Your World," September 7, 2020. This copy may not be in its final form and may be updated.

(BEGIN VIDEO CLIP)

PRESIDENT DONALD TRUMP: We have a V-shape. It's probably a super V.

And you see what's going on with the stock market, where it's, in certain cases, already setting records.

(END VIDEO CLIP)

CHARLES PAYNE, FOX NEWS ANCHOR: President Trump talking about jobs and the economy today, as the presidential race moves into high gear. He says we're seeing a V-shaped recovery.

Democratic presidential nominee Joe Biden, meanwhile, also focusing on jobs, union jobs in Pennsylvania this hour. We are following both.

Welcome, everyone. I'm Charles Payne, in for Neil Cavuto, and this is a special edition of “Your World.”

And we do have Fox team coverage with David Spunt following the president at the White House. Jacqui Heinrich is with the Biden campaign in Harrisburg, Pennsylvania.

We begin with David.

DAVID SPUNT, FOX NEWS CORRESPONDENT: Charles, good afternoon to you.

A big day for President Trump here at the White House, Labor Day typically the kickoff to the fall campaign season, President Trump holding a news conference on the North Portico behind me. And he came out swinging against his opponent, former Vice President Joe Biden, invoking his name almost two dozen times.

But the president began talking about the economy, something you know a lot about, Charles, talked about the unemployment rate down to 8.4 percent, the jobless rate, 1.4 million jobs added in August, clearly an improvement from where things were in April in this country, the president touting that excess -- success -- excuse me.

Important to note, Charles, less than two months from the election and more than a month since negotiations began, still no deal, though, on a COVID relief package, both sides at a stalemate.

Treasury Secretary Steve Mnuchin and Chief of Staff Mark Meadows have gone to the Hill many times to meet with Democratic leadership, but with no deal, I asked President Trump today, why don't you personally, Mr. President, get involved in the negotiations and meet face to face with Democrats?

Listen.

(BEGIN VIDEO CLIP)

TRUMP: I know my customers. That's what I do. I know Pelosi. I know Schumer very well. They don't want to make a deal, because they think it's good for politics if they don't make a deal. This has nothing to do with anything, other than you have to know who you're dealing with.

(END VIDEO CLIP)

SPUNT: The president continuing to deny a report from The Atlantic out last week that he referred to American war dead as -- quote -- "losers" and -- quote -- "suckers."

Listen.

(BEGIN VIDEO CLIP)

TRUMP: Who would say a thing like that? Only an animal would say a thing like that.

There's nobody that has more respect for not only our military, but for people that gave their lives in the military.

(END VIDEO CLIP)

SPUNT: And just in from our chief White House correspondent, John Roberts, Zach Fuentes, a former aide to former White House Chief of Staff John Kelly, is denying that he is the source of that Atlantic article and did not hear President Trump use those words when talking about the American war dead -- Charles.

PAYNE: David, thank you very much.

Meanwhile, Joe Biden in the battleground state of Pennsylvania, where he will be holding a virtual event with the AFL-CIO president Richard Trumka just moments from now.

Jacqui Heinrich is also in Harrisburg, Pennsylvania, with more -- Jacqui.

JACQUI HEINRICH, FOX NEWS CORRESPONDENT: Hey there, Neil (sic).

Well, Biden announced endorsements from three more unions today, collectively representing more than half-a-million union workers. Right now, he's meeting with the leader of the largest federation of unions, Richard Trumka.

Labor backing is very important in this election. Pennsylvania is home to 700,000 union workers. And, remember, President Trump only won this state by less than 1 percent margin in 2016, about 44,000 votes.

Biden and Trumka released a joint op-ed today in The Pittsburgh Post- Gazette, accusing President Trump of diminishing union power and putting Wall Street first, writing in part: "When he isn't calling to boycott Goodyear and its thousands of union workers for petty personal reasons, Donald Trump is actively fighting against working people"

It also touted Biden's plans to invest in green energy jobs, important to spell out amid accusations in the Trump campaign that Biden's energy plan would kill jobs.

Biden also took a jab at President Trump while talking to union members who are veterans, bringing up reports that President Trump allegedly disparaged American service members, calling the nation's war dead, allegedly, losers and suckers.

(BEGIN VIDEO CLIP)

JOE BIDEN, DEMOCRATIC PRESIDENTIAL CANDIDATE: You were in Afghanistan, as well as Iraq, correct?

UNIDENTIFIED MALE: Yes. I went to Iraq and Afghanistan.

BIDEN: How long were you in Afghanistan? You were in Afghanistan...

UNIDENTIFIED MALE: For a whole year, 365 days? Iraq also.

BIDEN: Did you think most of those guys and women are suckers?

(LAUGHTER)

UNIDENTIFIED MALE: No.

(END VIDEO CLIP)

HEINRICH: There is a small group of Biden supporters here, also a small group of Trump supporters, both these groups trying to get a glance at the former vice president -- Charles.

PAYNE: Jacqui, thank you very much.

So, are jobs becoming the defining issue of this presidential race on this Labor Day. President Trump says, we are seeing a super V recovery, while the Biden camp claims it's more like a K shape, where the middle-class and working-class Americans, they say they're still not benefiting.

So, which is it?

Joining me now, Republican strategist Lauren Claffey, along with Democratic strategist Robert Patillo, and The New York Post's Kelly Jane Torrance.

Kelly Jane, let me start with you.

Listen, I look at the data every single day. I cut through it. I carve it up. I look at all aspects of it. And most of it is -- has been a super V, from manufacturing, to homebuilding, to households.

So the chart looks like a super V. These charts do.

KELLY JANE TORRANCE, NEW YORK POST: Yes, Charles, it's really interesting to see.

Now, between February and April, 22 million jobs were lost in America. That's unprecedented. This is -- we haven't seen this since the Great Recession. Now, we have only gotten just about half of them back, but still 11 million jobs since April returned.

That is quite something. And, again, we're seeing a lot of gains made by lots of various people. I mean, before the pandemic, African-Americans, Hispanics, women were seeing record low unemployment numbers.

Now, of course, it's back up. We'd like to get it back to where it was. It's going to take some work.

But I do think that President Trump has a great record on jobs until the pandemic. Much of that wasn't his fault, of course.

PAYNE: Right.

TORRANCE: In New York City, as you know, restaurants can't even have indoor dining. And that's not a President Trump decision. And that's killing thousands of jobs here in New York.

So I think that the recovery we have seen has been amazing, and it's -- hopefully, it will continue to stay that way.

PAYNE: And if we get back to February, then we're talking 152 million jobs.

Robert, that was an all-time high. Those unemployment levels were at all- time lows. And we have come back, I think, certainly more than the economists, a lot of the experts thought we could. You could argue that maybe it's starting to stall, though.

ROBERT PATILLO, DEMOCRATIC STRATEGIST: Well, I think this idea of a super V, which is a nonsense term that has just been made up, we have to look at what's going on in reality for the American people.

We're looking at 190,000 people who have died of this virus, and no clear federal administrative plan to deal with it. We're dealing with a housing crisis, which is going to hit us, where we have an eviction crisis and both a foreclosure crisis ahead of us.

We have the issues of the stimulus program, which turned into a billion- dollar slush fund for Kanye West and other multimillion-dollar companies. The American people only got $1,200 checks of several months ago.

So what we really need is a focusing, not on Wall Street, but on Main Street, on those real life Americans who need this -- who need the economic stimulus and need the ability to recover from this economy.

And right now it seems to be the only thing this administration is worried about stock prices among the Fortune 500 companies.

PAYNE: Yes.

Lauren, one thing I will tell you, anyone who doesn't think the stock market influences the overall economy is nuts. You don't want this market at an all-time low. That triggered the recession this year. It triggered the Great Recession, the Great Depression. Every major downturn that caused misery with the poorest Americans began with the stock market crash.

So no one should be rooting for that. And some of the things Robert said was true, although I'm not sure it's the White House's fault. President Trump just found money in FEMA; 45 states are going to be able to extend unemployment there.

He just had a moratorium on evictions until the end of the year. I mean, I'd say pox on both houses when it comes to Congress getting their act together. But there is a super V when you look at a lot of the data.

It doesn't mean we don't have a long way to go either.

Laura? Laura?

LAUREN CLAFFEY, REPUBLICAN STRATEGIST: Yes, I think what Robert said is partially true, in that -- oh, can you hear me?

PAYNE: Yes.

CLAFFEY: I'm sorry, Charles.

I think that what he said is partially true, in that, you're right, the stock market does affect every bit of the economy, and we need it to do well, and I think it's a leading factor on how we are recovering as a country.

But, electorally, and when we're talking about the election, what really matters is how do people feel that they are being affected by this economy, by the pandemic? What certainty do they have in their bank accounts that they can plan for the future, that they feel good about this?

So, until Americans on the ground level really feel the momentum that we're seeing in this recovery with the pandemic, I don't know that it matters as much for President Trump, that this will be a good election issue, until he can really make the case to everyday Americans that they're going to be OK in a couple months.

PAYNE: OK, financially OK, with respect to the COVID?

Because, Kelly Jane, you brought up the main point, I think, is that a lot of this stuff is out of the White House's hands. If you're in a state or a city that won't allow in-room dining, then you're going to have to fire a lot of people.

If you're the only one in your state or only one in your city who can go to the hair salon and get a blowout, you're going to fire a lot of people. I mean, so the fact of the matter is, I get the touchy-feely part of politics, and I think it's despicable to make people feel like they're doing worse than they're actually doing.

I get that's part of it, Kelly Jane, but there's also -- where people must know that help has been on the way, although they do need more.

TORRANCE: Yes, Charles, it's really quite something, isn't it?

I wonder. When I hear Bill de Blasio, mayor of New York, say that he's not sure we're going to have indoor dining until a vaccine in the spring, I wonder why he wants to destroy businesses.

And a lot of people think that New York, for example, Governor Cuomo and Bill de Blasio, are hoping for a bailout from the federal government, and if not now, then maybe after November, depending on if there's a changed administration.

PAYNE: Right. Right.

TORRANCE: So, again, all of the shutdowns were local, basically.

I mean, the federal government really only advised a short shutdown. It's - - they have obviously been extended, and to some degree unnecessarily.

I mean, there's -- the virus is all but gone from New York. I mean, there's still cases.

(CROSSTALK)

PAYNE: Robert -- let me get -- let me bring Robert in for a final last word.

Robert, when Obama and Trump took over, blue-collar wages were going up 4.95 percent year over. They were going up pretty good, 3.78 percent year over year. When they left, it was only up 2.3 percent. There was a drop of 61 percent.

How does Vice President Biden argue that he would be the best president for blue-collar workers, when their wages collapsed under the eight years that President Obama and he held office?

PATILLO: Well, because what you have to look at is the fact that, when you're building back better, you have a sustainable economy.

The -- we have green energy jobs, which are growing faster than fossil fuel jobs. We have the ability to work up actual trade deals with other nations, which bring manufacturing back to this country.

President Trump's economic -- economy was built off of tax cuts and deficits. We have done nothing to close those gaps. We have done nothing to bring down the national debt.

What President Biden will do is make sure we have a sustainable economy that's not built on a razor's edge, which only benefits the 1 percent, and, actually, people's take-home pay will be affected by it.

So I think that's what Joe Biden will do differently than what's being done by the current administration.

PAYNE: All right. Well, it's a mad dash to the finish line.

Thank you all very much.

Meanwhile, the battle for the Badger State is also in play, both campaigns closing in on Wisconsin today, but can Trump and Pence close the gap that's there right now?

Former Republican Governor Scott Walker is next.

(COMMERCIAL BREAK)

PAYNE: Vice President Mike Pence and Democratic vice presidential nominee Kamala Harris both campaigning in the battleground state of Wisconsin today.

Mike Pence delivering remarks on the economy at Dairyland Power in La Crosse, while Kamala Harris is meeting with union members in Milwaukee.

That's where you will find our very own Peter Doocy -- Peter.

PETER DOOCY, FOX NEWS CORRESPONDENT: Charles, good afternoon.

Kamala Harris has been bouncing around Milwaukee. She's about to meet with black business owners for a socially distanced roundtable. But the first thing she did when she touched down at Milwaukee Mitchell International earlier today was meet with the family of Jacob Blake.

(BEGIN VIDEO CLIP)

KAMALA HARRIS, DEMOCRATIC VICE PRESIDENTIAL CANDIDATE: Really wonderful. I mean, they're an incredible family, and what they have endured, and they just do it with such dignity and grace.

And they're carrying the weight of a lot of voices on their shoulders.

(END VIDEO CLIP)

DOOCY: Well, Wisconsin voters are also hearing a different message about Kenosha from Vice President Mike Pence, who is also campaigning in the state today, and trying to highlight the steps he and President Trump took to try and stop the destructive riots that followed the Jacob Blake shooting.

(BEGIN VIDEO CLIP)

VICE PRESIDENT MIKE PENCE: President Trump took action just a few days ago.

We sent 200 federal law enforcement officers into Kenosha. Working with the National Guard and local law enforcement, we quelled the violence. Under this president, I promise you, we will have law and order in every city in this country for every American of every race and creed and color.

(APPLAUSE)

PENCE: So help us God.

(END VIDEO CLIP)

DOOCY: Pence is in the air on his way back to Washington, D.C.

Kamala Harris is still here in Milwaukee. They campaigned on opposite sides of the state today in this, Kamala Harris' first in-person day of campaigning out on the trail in a swing state since being added to the ticket almost one month ago -- Charles.

PAYNE: All right, Peter, thank you very much.

Joe Biden, well, he's counting on union support in the upcoming election. But if President Trump garners the same support that he got in 2016 from labor unions this go-around, many think it could be enough to win a state like Wisconsin.

Let's ask former Republican Wisconsin Governor Scott Walker.

Governor Walker, thanks for joining us.

FORMER WISCONSIN GOV. SCOTT WALKER: Hey, Charles. Happy Labor Day to you.

PAYNE: Yes, you too, sir.

Last time around, President Trump -- Hillary Clinton won more union support, but her margin of 8 percent, far below Obama's 18 percent. And since then, we have seen sort of even a more magnetic pull for President Trump among grassroots union workers.

WALKER: Well, this president not only can relate to the forgotten men and women, many of whom are everyday hardworking people, many of whom are in labor unions, and as well as non-union workers, but this guy's delivered.

When you look before the pandemic, we had the lowest unemployment rate in 50 years, the lowest ever recorded, obviously, for African-American, Hispanic American, Asian-American, people disabilities and veterans.

I think people have seen just in the report that came out last week, nearly 1.4 million new jobs. Unemployment that the Fed said wasn't going to go below 9 percent by the end of the year is now 8.4 percent.

I think the workers out there understand that Donald Trump is the guy who got them back to work in the past and is going to get them back to work again right now.

PAYNE: Now, we know there are a lot of industries that are shut down. Again, we're millions of jobs away from where we were in February.

But a point I was trying to bring up last segment is, blue-collar wages last month were up 4.95 percent. I mean, that's just -- that's well above inflation. And if you are fortunate enough to have a job, that continues a trend that's been going on for several years now, where blue-collar wages have gone up faster than inflation and faster than anyone else's.

That's been unique in our country for well over a decade. Is this something that you would like to hear the president speak of, more particularly in a swing state like Wisconsin?

WALKER: Absolutely.

Manufacturing and agriculture -- agricultural jobs -- excuse me -- are big- time here in the state of Wisconsin. We, along with Indiana, are the two largest manufacturing states as a percentage of our overall employment as a state.

And we have got the wide range, from very small to big businesses, involved in manufacturing. And when we saw the numbers the last few years, remember, Barack Obama, when Joe Biden was the vice president, was talking about how these jobs weren't going to come back, that you would need to have the magic wand.

Well, we have seen those jobs come back since Donald Trump and Mike Pence have been in office. We're going to see them come back again. And you're right. Wages are going up. People can see it with their own eyes.

The other thing to remember, Kamala Harris is one of the co-sponsors of the so-called Green New Deal, which is not green, not new, and certainly not a good deal out there.

We're looking at manufacturing and agricultural jobs would be devastated by that radical plan that Bernie Sanders and others are pushing, and that Joe Biden's kind of given a wink to.

I think part of the reason why they're in Pennsylvania is -- and not just here in Wisconsin, but Biden is in Pennsylvania today -- is...

PAYNE: Right.

WALKER: ... he first said he was against fracking. Now he's for it. Those are the kinds of jobs in Pennsylvania and Michigan or Ohio and Wisconsin that will really matter on Election Day.

PAYNE: Right.

WALKER: There's no doubt he's been doing a lot of cleanup on that, or at least attempting to.

We got less than a minute to go. When it does come from these clean energy jobs, or these -- these non-fossil fuel jobs, I don't see a lot of Republican pushback. And I question how these jobs are tabulated.

I know, under the prior administration, if you drove a bus that was run on natural gas, it was considered a clean energy job, right?

(LAUGHTER)

PAYNE: So, I mean, it's -- I don't think there's going to enough so-called organic green energy jobs for us to get rid of fracking and to be aggressively anti-fossil fuel in this country and, by the way, remain a top economic country in the world.

WALKER: Right.

Men and women in organized labor overwhelmingly get it. It's why, last year, people forget, the AFL-CIO sent a letter out raising real concerns about the so-called Green New Deal. They want to work. They understand Donald Trump's got them back to work before. He's going to do it again.

And we see the numbers, wages up, jobs up.

PAYNE: All right.

WALKER: We're only seeing more of that. We don't want to go down the path of Biden and Harris.

PAYNE: Governor, thank you very much. Always appreciate it.

WALKER: Good to be with, Charles.

PAYNE: All right, folks, New York now seeing more violent protests in Rochester, and now demonstrators are coming from Alaska?

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: We have arrested people who provided addresses from Alaska and Massachusetts and other parts of the country.

(END VIDEO CLIP)

(COMMERCIAL BREAK)

PAYNE: You're looking live at New York City. And it looks like a lot of young adults are leaving the big cities and moving back home with mom and dad, but why? Well, we have got the answers.

We're back in just 60 seconds.

(COMMERCIAL BREAK)

PAYNE: Protests across the country growing violent over the weekend.

Fox News correspondent Mike Tobin has the latest -- Mike.

MIKE TOBIN, FOX NEWS CORRESPONDENT: Well, hey there, Charles.

Protesters continue to clash with police, as the protests in Portland, Oregon, have crossed the 100-day mark. That's what they did on Saturday night. Most dramatic scene coming out of Portland is when one of the protesters was set on fire by an errant firebomb thrown by one of his fellow protesters.

But Molotov cocktails appeared around 9:00 p.m. Saturday night, and that is when law enforcement declared a riot. One officer was injured when he was hit by a firework; 59 people were arrested. Two of them had knives.

Both police and protesters were injured in Rochester, New York. The demonstrations there were triggered when a man died in police custody. Cops had put a hood over the head of Daniel Prude to stop him from spitting up police officers, and he died.

As the protests in New York rage for fifth night, President Trump blames Democratic leaders for being too easy on the violent demonstrators.

(BEGIN VIDEO CLIP)

TRUMP: They stand there, they throw things at the people that are supposed to be protecting something, and nothing happens. They throw rocks. They throw cans of soup. They throw lots of hard objects. And rarely does anything happen.

(END VIDEO CLIP)

TOBIN: And the Kentucky Derby ran over the weekend with no crowds in the stands, but crowds outside demonstrating.

They are outraged over the death of Breonna Taylor, who was shot and killed when police served a no-knock warrant on her apartment. The anti-police demonstrators were met by pro-police, pro-gun demonstrators in Louisville - - Charles, back to you.

PAYNE: Thank you very much.

Meanwhile, Rochester officials blaming outside agitators for escalating the protests.

So, what does law enforcement need to do to stop this?

Former NYPD Detective and CEO of Brosnan Risk Consultants Pat Brosnan joins me now.

Pat, it seems invariably like these city mayors and police chiefs are trying to walk a very -- a very tight rope here, if you will. They don't want to upset the protesters, per se. They don't want to accept any responsibility. And it all seems to be blame the White House in many cases for cities that already were in a lot of trouble and obviously now in more trouble.

PAT BROSNAN, FORMER NYPD DETECTIVE: Just throwing gas on the flames, Charles.

The reality is that Portland, Oregon -- it's interesting how movies are timeless. That's become the Twilight Zone. And then you have the Three Stooges masquerading as leadership.

You have Governor Kate Brown, OK? It's mostly peaceful protests. You have Mayor Ted -- criminals kicked him out of his own house, by the way -- Wheeler. And then you have DA Mike, let's cut them loose, Schmidt.

They're all seriously delusional and titanically unaware of the effects, Charles, of desecration of the police and destruction of the rule of law.

What you're seeing is how it becomes exponential, how, once you give them an inch, they take a yard. A yard becomes a mile. And we're seeing it night after night after night. It is astonishing.

PAYNE: What worries me is, a city for -- like Rochester, for instance, I ran the numbers. Their murder rate is 180 percent above the U.S., rapes 56 percent above, robbery 191 percent above, and assaults are 85 percent above.

Again, this is a U.S. -- American city that was already in a lot of trouble, a lot of turmoil. And so I know that they're in a delicate position. But if they take this opportunity only to blame the federal government, only to blame President Trump, I'm worried that these kind of numbers could actually get worse.

BROSNAN: One thousand percent. We have seen it in New York. I mean, take New York, for example.

I have written up as the seven deadly sins by the titanically unaware de Blasio. The reality is, six of them begin with D, so it's easy to remember. You got the defunding. You got the dismantling of the anti-crime units. You got disinterested prosecutors. We don't want to press charges.

You have got desecration of the police. You have destruction of the rule of law. They're all D's. And what comes out of it, Charles, and what you're seeing manifested in the numbers in Portland and Rochester is the birth of the empowered criminal, the criminal who doesn't worry, who can strut with a gun in his waistband with impunity.

That is a bad set of -- that's a very, very serious denigration of the rule of law and a bad set of circumstances. And we're seeing it in all the major cities.

PAYNE: Right.

Pat, what do we do on the other side of this conversation with respect to police? I have seen enough videos now to wonder, particularly when it comes to apprehension and either the holding of someone who's being apprehended or trying to handcuff these people, whoever these suspects are, is -- can there, should there be some sort of better type of training?

And, of course, in Rochester, you have what the -- where Mr. Prude had something put over his head to stop him from spitting, and the official birth -- the official death certificate says, he died from complications from asphyxia.

On that end of the spectrum, what should be done?

BROSNAN: Well, I agree, Charles, there's always room for more progressive training, more advanced training, de-escalation training in different formats, absolutely.

My position is, that sworn police officers can never be overtrained. There's no such thing as overtraining. Continuous, progressive training is absolutely consistent with an evolving set of facts in the field.

But it comes with a little bit more than that. There has to be support. There has to be support from politicians, has to be support from their leadership. They have to support the officers, the men and women. Otherwise, the debasement, the desecration, the defilement, the diminishment of the officers and what they're sworn to do, protect and serve, will exacerbate, as sure as the sun sets in the West.

PAYNE: Yes, I agree with you. I'm not sure why there can't be a greater role for greater social justice, racial justice in this country, better law enforcement training.

And all of it points to a better society. And to see police officers thrown under the bus time after time by these large city elected officials has been heartbreaking. All of it been really troubling, obviously.

Thank you very much. Appreciate your calm and very straightforward comments on there, a lot for us to think about.

BROSNAN: My pleasure. Thank you.

(CROSSTALK)

PAYNE: Meanwhile, folks, the jobless rate, I don't know if you have seen this, coming down big time. Now it's single digits.

So, the question is, do we really need trillions in more stimulus? We have got the Labor Day debate you don't want to miss. It's coming right up.

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

TRUMP: They don't want to make a deal because they know that's good for the economy. And if they make a deal, that's good for the economy, and, therefore, it's good for me for the election in November -- November 3.

And, therefore, they're not going to make a deal.

(END VIDEO CLIP)

PAYNE: All right, I guess we will just put President Trump down as a maybe on Nancy Pelosi and Chuck Schumer when it comes to making a COVID deal.

But putting the politics aside, there are still calls for more stimulus, even with the unemployment rate falling to single digits. So, the question is, do we really need it now?

Heather Zumarraga says that, yes, it's time to stop and make it happen, but Gary Kaltbaum thinks one more round of stimulus -- actually, he's for it. He thinks it could do the trick.

So, let me start with you, Gary, because I was a little surprised to hear that you thought maybe there would be -- that we do more money pumped into the system.

GARY KALTBAUM, FOX BUSINESS CONTRIBUTOR: Well, full disclosure, I'm one of the biggest deficit hawks out there.

But I just believe there's moments in time where government has to do their thing, and I still think the war goes on. And there are 7.5-plus-million people still on employee from January. Over the holiday weekend, airline 60 percent below last year, which directly affects so many other industries, restaurants still way down under capacity.

I just think we need more of a bridge going forward, especially into the holiday season. I meet with a lot of these families that are in the services industries, and they're up at 3:00 in the morning not knowing how they're going to pay bills going forward.

I just think this is a necessity.

PAYNE: Heather, you think that's enough, enough is enough?

HEATHER ZUMARRAGA, FINANCIAL ANALYST: Well, I think parts of it can be extended.

I mean, you if you look at the economic data coming out, yes, there are still many millions of Americans relying on the unemployment benefits that are provided by the states.

But we are getting jobs back. We're going back to normal in terms of reopening the economy. The August jobs report was great. Consumer spending is up, despite losing a supplemental bonus of $600 per week. So the data -- and this is according to J.P. Morgan Chase. They showed credit card spending was up even after people -- the supplemental bonus unemployment were off.

So, the data is showing that we're doing OK at this point in time. Republicans have proposed about $1 trillion. You go with that plan, instead of the $3 trillion plan proposed by Democrats. And the reason I say that is because the data is showing things are getting better. It's not based on feelings or emotions. It's based on the facts.

PAYNE: Gary, one thing, though, is that these numbers are slowing, right? They're beginning to slow just a little bit.

And you look at the initial jobless claims, pandemic unemployment insurance, there's a lot of nuances to this data that to me suggests this has been a powerful bridge to get us this far. I think everyone would agree we have came -- we have come a lot further than the experts said we would back in March and April.

But I tend to lean with you on this, Gary. I don't think that there's enough oomph in the system. And I don't think people will be confident to keep spending if they don't think there's at least one more round coming.

KALTBAUM: Agreed.

And I don't think something's up -- something that has not been said enough, what a magnificent job they did, government -- believe it or not I'm saying this -- with the first round, to be able to get it done so quickly and so huge.

PAYNE: Yes.

KALTBAUM: There was a few things here and there, but they got it done. It just needs more time.

And I'm dealing with real world here, Charles. I deal with a lot of these families, the Boys and Girls Clubs of Central Florida. You should hear some of these stories. Again, I have to repeat. Imagine having to be up at night wondering how you're going to put food on the table the next day because you're out your job because you're in the service industry, whether it be the hotels or airlines.

They did such a good job first go-round. Just continue with a little bit longer. It does not have to be $3 trillion. Doesn't have to be $2 trillion, but another -- another big one. I hate saying it, but I just think it is a necessity and will do a hell of lot of good if you move forward.

ZUMARRAGA: And, Charles, if I may, I'm not saying that...

PAYNE: Yes. Yes. We will have a conversation like this in six years, and I'll bring this up.

Go ahead, Heather.

(LAUGHTER)

ZUMARRAGA: I'm not saying that Paycheck Protection Program didn't work, and didn't save tens of millions of jobs.

I think even the most fiscal conservatives in Congress agree that that needed to happen, the $2.2 trillion. But at what point in time, at some point in time are debt and deficits -- a new report today showing that we will have the highest debt since World War II as a country.

So it exceeds the size of our economy, and you know that future generations will have to pay for that. Yes, we want to get people back to work. A vaccine will help and reopening the economy will help as well.

But we want -- we also want to make sure that we're not racking up unnecessary spending. And that's what the Republicans want to be careful of. Even Larry Kudlow said he's supportive, but he wants to make sure it's not a multitrillion-dollar deal.

PAYNE: Yes.

Well, it's also an election year.

Gary, you have got 60 seconds left, 30 seconds left. But I think that's complicating issues as well. It's the ultimate game of chicken. But, to your point, it's Americans who are suffering.

KALTBAUM: Absolutely. This is real world. These are families.

This is emotions. This is psychology. This is getting a bridge to the next point. And once we get past this, and get some sort of vaccine and get passed this nonsense, we can all celebrate that government actually did something that really worked and worked well.

And then we will worry about it down the road. By the way, debt and deficits, that horse left the barn 10 years, so...

PAYNE: Yes.

KALTBAUM: Twenty years ago. How's that?

(LAUGHTER)

PAYNE: Yes. Yes.

ZUMARRAGA: It doesn't mean you keep going and you keep printing.

PAYNE: Yes. No, we crossed the Rubicon when it came to that a long time ago.

(CROSSTALK)

PAYNE: All right, thank you both, two of my favorites. Heather, Gary, see you soon.

Hey, the bigger the gatherings this weekend, the higher the surge this fall? What health officials are saying right now.

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

BIDEN: I want full transparency on a vaccine.

One of the problems is, the way he's playing with politics, is, he's said so many things that aren't true, I'm worried, if we do have a really good vaccine, people are going to be reluctant to take it. And so he's undermining public confidence.

TRUMP: Contrary to all of the lies, the vaccine -- they will politicize. They will say anything.

And it's so dangerous for our country, what they say. But the vaccine will be very safe and very effective. And it will be delivered very soon.

(END VIDEO CLIP)

PAYNE: Putting politics aside, if we do get a vaccine before Election Day, how safe will it be?

Johns Hopkins University School of Medicine's Dr. Anita Gupta joins me now.

Dr. Gupta, I want to alert the audience that the major players in this race for a vaccine have all put out a press release vowing that they would hold -- adhere to high scientific ethics and standards when it comes to this vaccine and the manufacturing of it.

So, Pfizer, Johnson & Johnson, Sanofi, and Moderna all trying to let the public know, hey, when we get to the finish line, we will we will get there right way.

DR. ANITA GUPTA, JOHNS HOPKINS UNIVERSITY OF MEDICINE: Right.

And, look -- and just to step back, I mean, this is a high science process. Distributing, developing a COVID-19 vaccine or any vaccine is always high science. And it's one of the most challenging public health initiatives ever attempted.

And so we have to keep that in mind. This is not a political process. It is a public health process, and it is one at a global level. So, we have to get to 300 million Americans, and we have to get around the world. And we may have to do that multiple times.

So, it is a long, arduous process that requires not only the U.S. Food and Drug Administration, but global regulators from around the world.

PAYNE: Right.

GUPTA: So, it is a massive, massive process.

PAYNE: So, then, how concerned are you?

I was really surprised when I heard vice presidential candidate -- nominee Kamala Harris suggest that she would not take a vaccine. There are enough people out there who aren't going to take it anyway. Many people don't want to be the first to take it, if they eventually do take it.

I mean, it's got its own issues, to begin with. But, certainly, how concerned are you about the politicization, that this is even being brought up in politics, when it's a medical issue?

GUPTA: Look, we have to go back to the data. There is due process when we look at any drug product or vaccine. How safe is it? How effective is it?

And, as a scientist and as a physician, I will look at the data. I want to look at the evidence and make sure that it is effective. And I think that's what we have to look at, and leave it to the scientists to let them do their work.

We're looking at the process very transparently right now. And I know that's sometimes difficult to see. But, ultimately, the companies that are working on it...

PAYNE: Right.

GUPTA: ... they're doing what they need to do.

And it's never too early to begin action when we're dealing with a massive global pandemic.

PAYNE: Absolutely.

Well, I want to switch gears a little bit.

Labor Day gatherings raising some concerns about a potential rise in cases as we head into the fall. Will the holiday and a lot of these big gatherings mean more COVID-19 hot spots in the weeks to come?

GUPTA: Certainly, there is certain concern about this. And we have heard all the precautions.

Prevention is utmost concern here. And, certainly, there is a period that we have to wait and see, a two-week period here, that we will have to wait and see what happened from this weekend. But there's certain concern amongst experts, including myself, of what will happen. There is certainly a need for social distancing. That has to continue, wearing masks, and certainly the handwashing.

And we should not compromise that, whether there's a holiday or not...

PAYNE: All right.

GUPTA: ... and continue to remain safe and follow all the precautions put forward by all the experts and our communities.

PAYNE: It does seem intriguing, though, because we have seen large gatherings.

I looked at Sturgis, for instance. I know a lot of folks are watching that. And while there have been some cases, it's not coming near the hype or the fear factor. Is there something going on where -- that's mitigating the spread of these -- of the coronavirus out of these big events, where there is no social distancing, per se?

What's happening there?

GUPTA: Well, look, I think individuals are tired. There's definitely an exhaustion factor.

And individuals want to be outside.

PAYNE: Yes.

GUPTA: They want to break free from that.

But we have to remember there are still individuals that are seriously ill, they're hospitalized. And there is a major global pandemic.

PAYNE: Sure.

GUPTA: And in order to bend that, we will have to continue to follow all precautions.

PAYNE: Dr. Gupta, thank you very much. We always appreciate it.

Well, no more empty-nesters -- why young adults are shacking up with mom and dad at the greatest clip since the Great Depression.

(COMMERCIAL BREAK)

PAYNE: Well, home sweet home is getting a bit more crowded.

New analysis from Pew Research showing the majority of young adults are currently living with their parents, the first time we have seen that since the Great Depression, the economic downturn from COVID-19 a big reason.

And that has Fox News contributor Kat Timpf worried.

Kat, I mean, what's -- it's an emergency. People are going back home. What could be wrong with that?

KATHERINE TIMPF, FOX NEWS CONTRIBUTOR: Right.

Well, unfortunately, what's wrong with that is that, no matter how much you might try to think that this is just a pause in time, stay at home while this pandemic gets figured out, time doesn't pause, right?

If you have to move home because you lose your job or because things are tough because of the pandemic for you, you don't really get that time back to do something else. We may be seeing a lot of people from this generation who are behind not just in terms of career, but also so in sort of life skills, growing up, independence, right?

You live on your own, you have that first time you have to deal with that difficult neighbor, or that first time you have to deal with that jerk of a landlord, or the first time you wake up to a mouse scurrying next to your face. That last one might have been just me.

(LAUGHTER)

TIMPF: But independence is so important. And it's, unfortunately, one of those things that you have to learn by doing. And that's the only way you can learn it.

PAYNE: So, you're concerned about some sort of re-arrested development.

In other words, time moves on, but, when we go home, we actually move backwards.

TIMPF: Yes, I don't know if it's necessarily moving backwards, but rather just taking a lot longer to grow up, because you can try to make the best of it.

And I know that a lot of people might not have a choice. And this was, of course, something that was -- has been increasing since the '60s, before the pandemic, more and more young people living home with mom and dad.

But now, because of the pandemic, a lot of younger people who are just sort of starting out their career, they have been hit the hardest by this. And it's going to make it really hard for them to learn the kind of skills that you can't learn without doing, right?

I remember finding a cockroach in my apartment, called my daddy: "What do you want me to do?" It's a good point. It's my problem. I got to deal with it. You really have no choice but to deal with your own problems when you're on your own.

And, sometimes, there's things that come up that you didn't even know would be something you would have to deal with, because you don't think about it when you're living with mom and dad. And you're not going to get that chance until you are out on your own.

So, this is really, really sad to see a generation sort of continually getting clobbered by this.

PAYNE: All right, well, Kat, I -- you're always our voice of wisdom when it comes to these kind of things.

(LAUGHTER)

PAYNE: But I'm not sure there's any way around it right now, right? I mean, this the predicament that we're in.

TIMPF: Yes, it's really tough.

I don't know. Parents, maybe flood your kids rooms with cockroaches, and then don't answer their calls.

(LAUGHTER)

TIMPF: Don't do that. Don't do that. Don't do that.

PAYNE: Or just sit around in a robe and wait for them to come home late one night with her date.

TIMPF: Yes.

PAYNE: All right, Kat, that will do it. I always appreciate it.

(LAUGHTER)

PAYNE: Hey, folks, remember, the market is back in action tomorrow, and so am I, 2:00 p.m. Eastern time on the Fox Business Network.

Remember, we were under a lot of pressure. It's going to be a big day. It's still a big day here.

"The Five" starts right now.

END

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