This is a rush transcript from “Your World" October 2, 2020. This copy may not be in its final form and may be updated.

NEIL CAVUTO, FOX NEWS ANCHOR: The markets more than hung on. It was a lot worse. We were down close to 500 points. That was then, a comeback for the markets since, although it's been all over the map, and all again on these indications that the president has indeed tested positive for the coronavirus.

We are waiting to hear in the next half-hour or so from Joe Biden, who has already indicated he's tested negative for the virus, so too his wife, Dr.

Jill Biden. But he will be in Grand Rapids, Michigan.

When he takes to that podium to address all these fast-moving developments today, we will take you there.

There have been a lot of fast-moving developments as well on the Washington legislation side, talk or at least hopeful talk, that a stimulus deal could still be had.

Nancy Pelosi talking about a changing dynamic that now makes it more likely than unlikely. The two sides are still far apart, but another reminder that was sent to all those airline CEOs who are contemplating -- some already have laid off thousands of workers, Nancy Pelosi indicating, why don't you hold off on that for a while?

A good possibility and maybe telegraphing that a deal can still happen.

And, of course, that Supreme Court nomination that we're told for the time being, despite Mike Lee, the senator from Utah, the key player of questioners on the Judiciary Committee, sidelined himself by the coronavirus.

All of this happening on the same day after the crazy month of September, and now it's ready to Rocktober.

Welcome, everybody. I'm Neil Cavuto and this is "Your World."

And John Roberts right now on how all of this is falling out at the White House. The president lives in that House behind him. He just wasn't in the Oval Office today.

Hey, John.

JOHN ROBERTS, FOX NEWS CHIEF WHITE HOUSE CORRESPONDENT: Hey, Neil.

Just what you thought, not one more thing could happen in this crazy election year, the president last night -- early this morning, actually, tweeting that he and the first lady have been diagnosed with having coronavirus.

Now the question is, how sick could the president potentially get? We heard from Mark Meadows, the chief of staff, this morning that the president the first lady's symptoms thus far are mild, the president said to be in good spirits, though he has been uncharacteristically quiet today.

And a conference call that he was supposed to lead in the noon hour today on COVID support for vulnerable senior citizens was handed off to the vice president, as opposed to the president leading that call. No real reason, given other than the president's schedule shifts around and he was busy and had a lot of other calls to make.

One thing we do know, though, is that this is seriously going to affect his campaign going forward. The campaign manager, Bill Stepien, a little while ago, earlier this afternoon, putting out a statement saying -- quote -- "All previously announced campaign events involving the president's participation are in the process of being moved to virtual events or are being temporarily postponed."

Something puzzling that happened yesterday, though, we do know that the president's -- one of the president's chief advisers, Hope Hicks, fell ill on the president's campaign trip to Minnesota. She self-isolated aboard Air Force One on the way back home, and then tested positive for coronavirus on Thursday morning.

That was known by White House senior staff when the president went off to Bedminster, New Jersey, yesterday afternoon for a fund-raising roundtable.

The press secretary, Kayleigh McEnany, remarking on that earlier this afternoon. Listen here.

(BEGIN VIDEO CLIP)

KAYLEIGH MCENANY, WHITE HOUSE PRESS SECRETARY: It was deemed safe for the president to go. He socially distanced. It was an outdoor event and it was deemed safe by White House operations.

QUESTION: Who exactly assessed that it was safe for the president, even though he knew he had exposure, to travel to New Jersey? He was in Marine One, small space, Air Force One, and that fund-raiser.

Who made that assessment?

MCENANY: White House operations made the assessment it was safe for the president, in consultation with others.

(END VIDEO CLIP)

ROBERTS: It would appear, though, when the president boarded Marine One to go up to Bedminster and Air Force One as well, he had already been infected, because, several hours later, he tested positive for coronavirus.

And we do know that there is an incubation period.

Reaction to this coming in from around the world, the House speaker, Nancy Pelosi, saying that she is praying for the president and the first lady, but also suggesting that this is a cautionary tale. Listen here.

(BEGIN VIDEO CLIP)

REP. NANCY PELOSI (D-CA): We all received that news with great sadness. I always pray for the president and his family that they're safe.

I continue to do so, more intensified. And I know that he will have the best of care. And that's what we want for everyone in our country.

Maybe now that people who see the president of the United States, with all the protection that he has, and the first lady, still having this exposure, it might be a -- as you say, a learning experience. But, more than learning, it has to be something that is acted upon.

(END VIDEO CLIP)

ROBERTS: It's unclear at this point what the route of transmission was.

Again, we know that Hope Hicks came down with it, and then the president tested positive.

And the two of them had been together for several days.

But, Neil, we also know that at least five people who attended the Amy Coney Barrett reveal back on Saturday in the Rose Garden have tested positive for coronavirus. It could just be coincidence, but it's an interesting coincidence -- Neil.

CAVUTO: Yes, for sure.

John Roberts, thank you very much, my friend, John at the White House.

Let's go to Peter Doocy right now. He is following team Biden and this press event that's scheduled a little bit more than a half-an-hour from now

-- Peter.

PETER DOOCY, FOX NEWS CORRESPONDENT: And the former V.P., Neil, is on the ground in the Grand Rapids area. He's on his way here to this Food and Commercial Workers union building.

We got a look at the parking lot. There are some socially distanced plastic folding chairs. We do expect the motorcades roll up here in five or 10 minutes. So it shouldn't be too long before we hear from him for the first time today.

There's still a lot that we don't know, because he hasn't answered questions, like, when did he actually find out that the man he was on stage with for 90 minutes on Tuesday just tested positive for COVID?

This entire trip today was in peril earlier, as the campaign waited to see if Biden and his wife were COVID-19-negative. But the campaign has grown more and more confident in their safety protocols that they decided to go forward.

In fact, Biden is so used to wearing a mask in and around events that, two days ago, he spoke for a few minutes at a socially distanced train station event in Ohio, while staffers in the back were signaling to him that it was OK to take it off for a few minutes, so he could speak into a microphone.

The 77-year-old Democratic nominee said he meets four or five times a week with a small group of public health experts who tell them what is safe and what is not, as they learn more about COVID-19.

So, the decision to continue along to Michigan was likely made by scientists, instead of just political operatives. Biden did drop two events from his schedule today, including a mobilization event. On the eve of the weekend, the Biden campaign decided they wanted to start canvassing and door-knocking for the first time.

Kamala Harris did not see any disruption to her schedule. She is on our way to Las Vegas. And the University of Utah is telling us that they do expect the Harris v. Pence debate next Wednesday to go forward as planned as of now -- Neil.

CAVUTO: Peter Doocy, thank you very, very much.

Want to go right now to Dr. Bob Lahita, St. Joseph University Hospital chairman of medicine, much, much more.

Doctor, now that the most powerful man on the planet has contracted the virus, it's giving a lot of people pause, and saying, well, gee, he can get it, I better be careful. Have you gotten any indications, or certainly what you have seen, about patients are those who are anxious?

DR. BOB LAHITA, ST. JOSEPH UNIVERSITY HOSPITAL: Yes. Yes, a lot of people are anxious. A lot of people's complacency has disappeared.

And I think you're going to see more people wearing masks at all kinds of events. We have already -- I have spent a couple of hours today with the patients, and I have talked to many across the board who say -- there are many, believe it or not, who thought the virus was a hoax, a political hoax.

That has changed. People are wearing masks. People are washing their hands with sanitizer and soap. And they're -- actually, I know a few who are actually wearing goggles now to protect their eyes.

CAVUTO: Wow.

LAHITA: So, Neil, it has changed the whole climate.

CAVUTO: What is the president in for now in the next 10 to 14 days, the quarantine kind of range, I guess, that's given?

He's an older guy. So, I'm just wondering, he is in that vulnerable population, but what -- what would you be looking for, if you were his doctor?

LAHITA: OK.

I'd be looking for fever, number one, loss of taste and smell. He might develop a dry cough. Initially, when the infection sets in, it feels like you have a case of the flu, which is about the worst thing you have ever felt. It's like 10 times worse than the regular flu, which many of your viewers know.

And so that's what they're looking for. And, as you know, there is a hospital within the West Wing, and it's a hospital, sort of a mini- hospital. And Dr. Conley is there. And I'm sure he's around the clock with the president and the first lady.

So that's what you're looking for, fever, headaches, muscle pain, extreme fatigue. And my advice to the president is, stay in bed and rest -- Neil.

CAVUTO: Now, over the next 10 to 14 days, could you explain that range?

Now, normally, the CDC rules are, you quarantine for up to 14 days.

LAHITA: Yes.

CAVUTO: Why the distinction with as few as 10?

LAHITA: Well, your manifestations are going to happen, as they already are with the president.

The manifestations are going to happen about day five of having been infected. So, they keep you there until the test is -- your fever is down and the symptoms begin to disappear. And then you have to have at least 24 hours of no fever. And that's what we're looking at here.

And, of course, the president is under a great deal of stress, and that stress is going to have an effect on him and on the course of the disease.

He is 74 years of age. We all know that. And he is in that range above 70, where the survival, believe it or not, is excellent. It's 94.6 percent of patients survive. And he has no comorbidities.

And that data, by the way, that statistic is the CDC statistic. And if you're below 70, like Melania is, between 50 and 60, her survival rate is

99.5 percent.

So, I'm fully hopeful that things are going to be fine. But you never know this. This is like Russian roulette. We have had healthy athletes. We have had people go into the hospital who look very, very healthy and are very young and do very, very poorly and wind up on ventilators.

And I certainly don't hope that happens with anybody in the White House or the White House press corps or the Secret Service -- Neil.

CAVUTO: All right, good, wise words to live by.

Dr. Lahita, thank you very, very much.

So, the doctor's orders here is for the president to rest, take it easy, look after his health. And then, all that other stuff, he can address later.

Part of that other stuff is what's going on, on Capitol Hill right now, where this new change dynamic we heard from Nancy Pelosi, who, by the way, we're hearing just tested negative for the coronavirus herself, might change the plans for whether that impossible coronavirus relief could ever happen.

It might just -- after this.

(COMMERCIAL BREAK)

CAVUTO: All right, when all this news first broke about the president tested positive, he and his wife, for the coronavirus, markets were tumbling, dropping over 400 points, the futures market, quickly following that in the real cash market here.

They came back mightily on talk that this is changing the dynamic, to quote the speaker of the House, Nancy Pelosi, for a possible stimulus deal related to the coronavirus. The two sides are far apart. So, maybe this might be wishful thinking.

But that and the fact that airline CEOs were kind of given a message, you might want to hold off on those layoffs, that something could be cooking in Washington.

Chad Pergram would know if that's the case. He joins us right now -- Chad.

CHAD PERGRAM, FOX NEWS CONGRESSIONAL CORRESPONDENT: Hey there, Neil.

Well, so far, there is no deal. This idea that the president tested positive, that is influencing the possibility of negotiations here on Capitol Hill being successful.

The secretary of the Treasury, Steve Mnuchin, and the House speaker, Nancy Pelosi, they talked for about 65 minutes today. The House majority leader, Steny Hoyer, indicated on the floor that he thought that they might be able to get an agreement sometime over the weekend, and then maybe put this on the floor sometime next week.

He said it would take some time to get this into legislative form, get pen to paper here. So, we have an event. The British Prime Minister Harold Macmillan used to say that events were the most important factor in determining public policy. So we have had an event and that is kind of spring potential action here, plus all of these layoffs, Neil.

They really would like to get something done. They are closer than they had been before.

CAVUTO: Is there any possibility they work on a separate airline rescue deal? Because that is the argument, that it's -- time's a wasting for them.

PERGRAM: Yes, that's something that has been indicated by certain officials at the White House. They might do some sort of a separate piece of legislation there.

Peter DeFazio, the Transportation Committee chairman from Oregon, he has his own bill. That's something that House Speaker Nancy Pelosi alluded to today. Larry Kudlow at the White House and others have said, OK, just do something that deals with the immediate needs right now, and then we can come back on a bigger bill.

House Speaker Nancy Pelosi did indicate in a letter to her caucus that there were about five areas that were outstanding. There were major rifts there, but, again, they continue to talk, and that's the biggest factor right now, the fact that they weren't talking at all for weeks.

It's now past October 1, when some of those layoffs were starting.

Therefore, that's kind of nudging this action.

CAVUTO: All right, and thank you very much on that.

And, true to point, as Chad said, thousands of layoffs have already been announced by the biggest carriers, United, American among them. We will keep you posted on that.

We're getting an update on the president's condition right now direct from his physician.

John Roberts has more on that at the White House -- John.

ROBERTS: Hey, Neil.

This released just a couple of moments ago, this from Sean Conley, who's the president's physician, an update on the president's health. And it includes some very interesting information.

Sean Conley writing that: "Following PCR confirmation of the president's diagnosis" -- and that's test where they put that thing right up and tickled the base of your brain -- "a precautionary measure, he received a single eight-gram dose of Regeneron's polyclonal antibody cocktail."

This is an experimental drug that is still just finishing up phase three trials, has not gotten FDA approval yet. But they have found in phase three trials that it reduces the viral load in people who are non-hospitalized and have COVID-19.

So he received that, again, Regeneron's polyclonal antibody cocktail. In addition to the polyclonal antibodies, the president's been taking Zinc, which we know can boost your immune system, vitamin D, famotidine, which is basically Pepcid, melatonin to help him sleep, and a daily aspirin.

Sean Conley goes on to write -- quote -- "As of this afternoon, the president remains fatigued, but in good spirits. He's being evaluated by a team of experts. Together, we will be making recommendations to the president and first lady in regard to next best steps."

We don't know what that means.

"First lady Melania Trump remains well, with only a mild cough and headache, and the remainder of the first family are well and tested negative for COVID-19."

But interesting, Neil, in there the headline that he received a still experimental drug, this Regeneron polyclonal antibody cocktail. And, again, it's been found through human trials, human clinical trials, to reduce the viral load of coronavirus in people who are not hospitalized.

Clearly, when you go to the hospital, you get a different regimen of treatment. So, what it looks like they're trying to do is reduce whatever viral load is building up in the president's body. And it's likely that it was building up quite quickly, because the president would have had a COVID test yesterday morning, which would have been negative, and then he had that positive PCR test late last night.

And, again, the PCR test, just so folks at home know, that's the one where they stick the swab way, way, way up high in your nose. I had that in Cleveland the other day, and it burns. It goes away after a few minutes, but it's not the most comfortable test.

So, the president still in relatively good spirits, though, as Sean Conley said, feeling weak and receiving whatever treatment they can give him here at the White House. And we will see what those next steps entail.

We will stay with you on this for all of the latest -- Neil.

CAVUTO: Thank you, my friend, very much.

All right, Mitch McConnell is speaking on Capitol Hill right now. Let's dip into that.

(JOINED IN PROGRESS)

QUESTION: Sir, if there's another stimulus package passed, will that mean another $1,200 checks to the American citizens?

SEN. MITCH MCCONNELL (R-KY): I hope so.

I laid out a proposal a few weeks ago that we actually voted on in the Senate that did include another round of direct checks for low-income people, particularly, to give an example of an industry that's been really hard-hit, the hospitality field, people who worked in hotels and restaurants.

If there's a final negotiated package, I hope that that will be a part of it. And I would expect that it would be.

QUESTION: Can you expand on how the president is feeling and if he's experiencing any symptoms that you know of?

MCCONNELL: Could you pull your mask down?

QUESTION: Can you expand on how the president is feeling when you spoke -- when you spoke with him earlier and if he's experiencing any symptoms?

MCCONNELL: Well, he said he was feeling fine.

And we talked business most of the time. And so it seemed like, to me, a relatively normal conversation, except for this intervening event, for which was the reason I called him, to see how he was doing and wishing well.

QUESTION: Can you describe any symptoms that he was experiencing?

MCCONNELL: No, that's the interest of the conversation.

QUESTION: Did the debate come up with your conversation with President Trump? And how do you think that that should proceed moving forward?

MCCONNELL: We didn't discuss the debate, but I think it's safe to say it was not exactly a Lincoln-Douglas debate.

And I would hope that the next debate, both candidates would give the other one a chance to answer.

QUESTION: Do you think a debate held even remotely would be effective?

MCCONNELL: We will find out that it's supposed to be -- oh, remotely?

It probably would work. I believe that, actually, they are supposed to have an audience. But we're doing so many things remotely now, I imagine it would be OK, yes.

QUESTION: Does the Senate need a formal testing and contact tracing program for senators and all their staff in the Capitol progress? I think Chuck Schumer called for a formal process today, I believe.

MCCONNELL: Yes.

As I said, we're following the advice of the CDC in how we operate the center. And, so far, we have been able to do it quite successfully.

QUESTION: Some in your caucus have at least been quoted anonymously that they're concerned about moving forward with the SCOTUS nominee, getting all the Republican senators...

CAVUTO: All right, you're listening to Mitch McConnell, the Senate majority leader, who seemed to be indicating right now all conditions go for the confirmation hearings for Judge Amy Barrett, this despite Mike Lee contracting the virus.

He's a crucial member of that committee, the Utah Republican senator testing positive. So he might not be part of at least the beginning of those hearings scheduled about 10 days from now.

You might have heard at the outset of that he was touching on stimulus and

$1,200 checks. This is the closest at least I have heard him to weigh in on some of the measures they are debating back and forth in the House.

So far, he has shown very little interest in taking up any of this, the fact that he's referring to stimulus checks, relief for some businesses. He touched on the leisure, hospitality industry. He might have earlier been talking about the airline industry itself looking for help here.

But this is yet another sign that maybe that changing dynamic you heard about Nancy Pelosi talking about, in light of the president's testing positive for this virus, that things have changed on the Hill.

So, again, the hearing still on for Judge Barrett, and that stimulus measure not off the table entirely.

Let's go to Bill Cassidy right now, Republican Louisiana senator who himself had once tested positive for the virus and had 14 days in quarantine. Now he's here to live to tell about it and maybe offer advice to the president of the United States.

Senator, very good to have you. Thank you for your patience with this breaking news.

What would you tell the president, what he has to deal with now in the next few days?

SEN. BILL CASSIDY (R-LA): Sleep. Sleep. Sleep. Sleep.

(LAUGHTER)

CASSIDY: You can Zoom. You can take your calls, but give yourself two naps during the day.

They mentioned -- his physician mentioned that he is fatigued. That's one of the symptoms. So, just get some sleep.

CAVUTO: You know, he's -- he's an older guy, a young 74. I always get careful when I talk about old people, because I'm there myself.

But my point is, it's a little riskier, right? And that -- that's a vulnerable subset of the population. He's going to be quarantined for anywhere from 10 to 14 days, Senator. That's right about the time or by which time he's facing a second debate with Joe Biden.

Would you recommend that? I know it's early, but so soon out of -- coming out of a quarantine, to have another debate?

CASSIDY: Two things about that. He is at higher risk. He's over 70. He's too heavy. Both of those are major risk factors for having more complications.

I found that, when I started off, I didn't -- I was tired, but you end up being foggy. And it's not until you're towards the end of the time period where you realize you were foggy. It's just that you're tired. You're just not thinking as well as you normally would.

This would be his debate prep time. So, he will have to see how he does. If he's sicker, then they may want to postpone the debate, just so that he can be prepared. That's just something to think about.

And fatigue and those sorts of symptoms are pretty common. And, again, he's at higher risk. So, it's something to consider.

And, by the way, the most important priority is, the guy gets well, he and Melania get well, Hope Hicks and the others who are infected, as we say for everybody infected with coronavirus.

But, as it regards the debate, I think he also needs to be well-prepared.

CAVUTO: All right, Senator Cassidy, thank you very much. You're an example you can come out of this and be OK. So, hope springs eternal.

Thank you, sir. Very good catching up with you.

I want to go right now to Bret Baier on this whole debate issue, quite literally, over the debate and whether it will happen. I'm talking about the one on October 15.

Bret, good to have you.

BRET BAIER, FOX NEWS ANCHOR: Hey, Neil.

CAVUTO: It's interesting, because, if you look at the timeline of this and the quarantine period, anywhere from 10 to 14 days, that's right up against the October 15 timeline for that second debate.

What are you hearing about that and the concerns now about that?

BAIER: Well, it's all about the president's health and how he's feeling and how he's doing.

If he's doing fine, and he has three negative tests in 10 days, which is short of that debate, he could be cleared to debate. And that's possible.

If he's not, and he doesn't have those negative tests, the debate is not going to go forward, or he's going to have to do it virtually. And I don't think they have crossed that bridge.

Right now, we just got that update -- you heard John Roberts -- from the president physician, saying that he's fatigued. He's had that treatment of Regeneron. He's taking zinc and vitamin C. And he's resting.

At some point, if his symptoms increase, or they feel like they need to get him to a medical facility, he would go to Walter Reed National Military Medical Center, and get tested there.

But we don't -- we don't have any indication that that's happening as of yet.

CAVUTO: Now, obviously, they do this contact tracing, Bret, and they look around everyone who's come within 50 feet of the president over the last few days. They start to highly recommend getting tested and all that.

We do know right now that most of his key Cabinet members, from Wilbur Ross, Steve Mnuchin, Alex Azar, a host of others, all testing negative. We have also heard right now that his family, by and large, testing negative, Ivanka, Jared Kushner, his youngest son, Barron. So, at least the people in his immediate network, they're OK.

Now, the concern I'm sure the president has and others have around him is that they will have to keep being tested. So, I imagine that changes the dynamics a lot within the White House, doesn't it?

BAIER: Yes, it does.

I mean, there's a pretty strict testing regime to get to connection with the president. It was not that strict, I don't think, in the White House overall.

But if you were going to see the president, you had to take the quick test and get cleared. When we had the town hall at the Lincoln Memorial, Martha and I had to test, because we were in proximity with the president.

CAVUTO: Right.

BAIER: So, they do that every day, which is why this bubble was created and why this story, I think, touches a lot of people.

The fact that COVID has gotten to our president, even in this very protective environment of the White House and testing, says a lot about the disease, the virus, and maybe changes some people's perspectives.

CAVUTO: Yes, I was talking to a couple of doctors earlier about this on FOX Business, Bret.

And one of the things that came up again and again, one doctor acknowledging, it's a hell of a lot more contagious than I thought it would be at this stage in the game.

So, that gives people pause, significant pause, you know?

BAIER: It's really easy to catch. And people need to really be extra cautious.

And however you want to do that, it's social distancing. CDC says the mask is really the best defense. So we're back to where we were. Minus a vaccine, we have to do what we can to help each other. And I think that you're going to hear more and more from this administration about this after the president's diagnosis.

CAVUTO: Yes, we are going to hear more as well from the guy who wants his job, as Joe Biden will be speaking soon, as you know, Bret, in Grand Rapids.

We know that both he and Kamala Harris, his running mate, have tested negative for the virus. Now, the administration has had a field day kind of ripping this notion that the vice president, former vice president, is living in his bunker, rarely comes out.

And now he's likely going to address maybe some of that.

Joe Biden.

(JOINED IN PROGRESS)

JOSEPH BIDEN (D), PRESIDENTIAL CANDIDATE: I got two -- two COVID tests this morning, one in Delaware and one by the former White House doc who came up, and everything is clear. We wanted to make sure everything was clear before I came.

And we were supposed to have an event after this at a -- at a headquarters.

But based on the crowd size and indoors, it was concluded by the docs that it's best not to do it.

But I want to thank all of you. I want to thank Matt.

And, Matt, you're dead right. You were putting yourself on the line and a lot of other people did all across this country in your union.

And I want to thank David Way, secretary-treasurer of local 951, for having me here today. Look, this -- I would like to start by acknowledging, which I'm sure all

of you do as well, sending my prayers for the health and safety of the first lady and the president -- the president of the United States after they tested positive for COVID-19. My wife Jill and I pray that they'll make a quick and full recovery.

This is not a matter of politics. It's a bracing reminder to all of us that we have to take this virus seriously. It's not going away automatically. We have to do our part to be responsible. It means following the science, listening to the experts, washing our hands, social distancing.

It means wearing a mask in public. It means encouraging others to do so as well. It means having masking mandates nationwide.

The director of the CDC, Center for Disease Control, Dr. Redfield said and I quote, and he held up a mask and he said, these face masks are the most important powerful public health tool we have. Then he held a mask up again and said this face mask is more guaranteed to protect me against COVID than a vaccine, end of quote.

Leading scientists from the University of Washington tell us that we can save more than 100,000 American lives in the next hundred days alone if everyone wore a mask in public.

So let me repeat that because it's so important. We can save 100,000 lives in the next 100 days according to the head of the CDC if everyone wears a mask in public.

So be patriotic. It's not about being a tough guy. It's about doing your part.

Wearing a mask is not only going to protect you but it also protects those around you -- your mom, your dad, your brother, your sister, husband, wife, neighbor, co-worker. Don't just do it for yourself. Do it for the people you love, the people you work with.

The seriousness of this virus also underscores that we need regular testing with results turned around rapidly and that's available to everyone. It's not just the folks in the White House or who travel with me that deserve regular testing. It's folks in the meatpacking and food processing plants, grocery store workers, every single American deserves safety and peace of mind.

And it means we need transparency. Those who test positive need to participate in contact tracing so that everyone who they may have exposed can get tested themselves. That's how you stop transmission for any epidemic. It's basic.

We need to take the science of fighting this disease seriously if we're going to save lives. And above all, the news is a reminder that we as a nation need to do better in dealing with this pandemic. Taking these steps is how we'll protect ourself. And just as important is how we will protect one another.

I hope that all those who are fighting this virus, including the first family, and so many Americans today recover and recover soon. My prayers are with the families of the more than 200 -- I think it's 7 now -- 207,000 Americans who've died from this virus. Many of them got up this morning at the breakfast table with an empty chair of someone they lost and they loved. We understand.

And there's more than 7 million Americans who are now infected, have been infected. That includes folks here in Grand Rapids and all across Michigan, especially all of you with the UF -- with UFCW who are on the front lines of this pandemic and on the front lines of this economic crisis. UFCW workers who have always been on the front lines of fighting for the dignity and respect you deserve.

I know it's been tough. This morning, September jobs report came out, the last one before Election Day. I'm grateful for all those who were able to get their jobs back to work again. But there are fewer jobs than we had hoped for, and millions of families, millions, are still wondering when it will be their turn to come back from the brink, and the signs according to national press, are not encouraging.

Once again, the pace of job gains is slowing down. Once again, we're seeing temporary layoffs turn permanent. This month marked the largest single- month increase in long-term unemployment since we started keeping records in 1948.

There are now an additional 781,000 Americans who have been trying to find work for at least six months. They've been looking for work for at least six months and haven't found it. And in the past, that's a sign for permanency for them.

We're still down 647,000 manufacturing jobs nationwide since the crisis started. All told, we are now 30 million workers who have either lost hours, lost paychecks, or lost their jobs entirely. Participating in a labor force, participation fell last month and remains sharply down since this crisis began, especially for women.

There's another roughly 700,000 people who have dropped out of the labor force, stopped looking for a job. The vast majority were women, demonstrating once again how this economic crisis has been especially tough on women and families in this country.

This will be the first presidency in modern history to leave office with fewer jobs than when it came into office. Michigan has lost more than

361,000 jobs since the beginning of 2017. In fact, factories were already closing before COVID, like the Knoll plant here in Grand Rapids. They announced back in January they were shutting down and cutting 210 local jobs.

Manufacturing has already slipped into a recession last year. The net loss of auto manufacturing jobs you saw here in Michigan.

And that economic pain was only amplified by the pandemic. Your schools and local businesses are closed, like all places around America. More than 26 million unemployment claims were filed by Americans last month. Forty-six million Americans have exhausted their emergency savings. And essential workers here in Grand Rapids won't forget how the UFCW members saw their jobs turned suddenly into a life and death task.

Folks, today, today's report reinforces another painful trend, the continuing of what economists call a K-shaped recovery. And K means, the letter going up, that's those who -- on the top, it keeps going up. While everyone else in the middle is going down and below, we're seeing things get worse.

It means essential workers, UFCW workers who sacrificed to keep us going through the pandemic and continue it are being left behind by the most unequal recovery in modern history, because while workers are struggling, this is a fact, the top 100 billionaires in America have done pretty well, just the top 100 of them. They've made up more than $30 billion this year, in the last nine months.

And everyone else, though you get, you keep hoping you get the bottom of that K-shaped recovery. You get the downward slide. You'll have to figure out how you're going to pay the bills and put food on the table, how to balance doing your job with being a teacher to your kids because their school has gone remote. You're asked to risk your neck because you can't work from home while the risks of COVID are kept outside, because you work at a meat packing plant or an assembly line or the checkout counter.

You know, I do understand this is a scary time, an uncertain time. I understand it and I see you because I see the world from where I grew up in Scranton, Pennsylvania, a lot like Grand Rapids. There are still an awful lot of good people busting their neck every day, do the right thing for their families.

In Scranton, my mom used to have an expression. She said -- not just in Scranton, but from the time we left there -- that, Joey, nobody's better than you, Joey, but everybody's your equal.

My dad's constant refrain after he lost a job in Scranton where there was no more work and he had to move to Delaware. He moved away for a little over a year and come back every weekend to see us, until the time we finally a couple of years down the road in Delaware, got to finally be able to buy a home.

My dad used to use this expression, he said, Joey, a job's about a lot more than a paycheck. It's about your dignity. It's about respect. It's about your place in the community.

These are the values that shaped my growing up, and I suspect most of you.

It shaped my whole life. So I know and understood from the very beginning of consciousness about this that Wall Street and CEOs didn't build this country. The middle class built this country, and unions built the middle class. That's why I have laid out a comprehensive agenda not just to rebuild

our communities but to make bold investments so we can build back and build back better.

An independent analysis actually from Wall Street, Moody's, projected that my plan will create 18. 6 million jobs, 7 million more than the administration's economic plan. And $1 trillion more in economic growth than the president's plan. That's not coming from a liberal think tank.

That's coming from Moody's.

Here's how my plan works. I'm going to raise taxes on people only making over 400 -- anyone making less than $400,000 a year won't pay a penny more.

I'm going to ask the very big corporations, the Fortune 500 and the wealthy for pay their fair share for a change.

That means raising the corporate tax rate which was in the mid-30s and now is 21 percent back to 28 percent. That means making sure that no big company gets away with paying zero taxes, as 91 Fortune 500 companies do today making billions of dollars. Zero taxes.

How many of you paid zero taxes?

It means making sure the wealthiest Americans don't get to pay at a lower tax rate because they're making money on their investments. But they pay at the same rate that they pay for their salary.

These changes in the tax code will raise the money that will allow me to invest in working people and growing the middle class, which is when I announced I was running I said that's the reason to rebuild the backbone of this country. Hard working folks in the middle class, we're going to invest in creating millions of good-paying jobs, union jobs.

And this is -- by the way, my plan has been thoroughly analyzed by a whole bunch of folks. Take infrastructure, building roads, bridges, highways, ports, airports. We'll put millions of people to work in good-paying union jobs and create the foundation for growth in this country.

Clean energy, just upgrading 4 million buildings and weatherizing 2 million homes will create at least 1 million good paying jobs. Leading the world on electric vehicles and building 500,000 electric vehicle charging stations on our highways will create 1 million new auto jobs here in this state.

The manufacturing and technology, those areas, making sure -- making sure the future is made in America, made in Michigan with good union jobs.

You know, the federal government spends $600 billion a year of your tax dollars, $600 billion a year, to purchase everything from military equipment, to steel, to cars, to trucks, to federal fleets, at $600 billion. When I'm president, we're going to make sure we finally make good on a commitment made a long time ago, that these products, all these contracts that the president of the United States and the federal government can award, make sure those products are made by Americans in America, making sure that that's done.

It's estimated that will create five million new manufacturing jobs and technology jobs.

For small businesses, we're going to make sure small businesses come out on the other side of this terrible circumstance with access to capital and the ability to deal with the debts that have been accumulated during this pandemic. And we will make investments to increase incomes as well, a $15 minimum wage.

No one, no one should be in a position to have to work two jobs just to get above the poverty line. We're going to bring back jobs from America -- from overseas to America, and direct billions of dollars in revitalization funds and competitive grants to help communities, like those in Western Michigan compete for new business start-ups.

For essential workers, we're not just going to praise you. We're going to pay you a good wage to ensure you have strong benefits. We're going to ease the burden of the major cost in your life, health care. We will build on the Affordable Care Act through a new health insurance option, a not-for- profit public option, which will give private insurers a real competitor.

We will increase subsidies for your premiums, so they're lower, so you can afford the plans with lower deductions and lower out-of-pocket expenses. It will cost -- that plan alone will cost over $700 billion over 10 years, but it's paid for by eliminating those tax cuts.

For a 40-year-old making $50,000 a year, your monthly premium will go down by a third. We will take on the pharmaceutical companies, with a plan to slashes the cost of prescription drugs to up to 60 percent. Medicare will be able to negotiate prices for drugs, fundamentally lowering those prices.

And child care, a lot of you are dealing with that now. How do you go to work, if you have work, and take care of your kids, or an aging relative that's in trouble?

We're going to make high-quality child care affordable and accessible.

Every 3-year-old and 4-year-old will have access to free quality preschool.

We're going to make sure that low -- and middle-income families will never have to pay more than 7 percent of their income for caring for a young child.

And education beyond high school, we're going to make sure that four -- year college tuitions at a state university is tuition-free for any family making less than $125,000. Community college will be free, and programs for training will be free as well. If you are buy your first home, you will have a $15,000 help to get there.

These are all things that people have been talking about for a while. We're going to protect Social Security and increase the benefits for millions of seniors. The president is talking about giving -- eliminating the withholding tax.

Well, that's wonderful, except for one thing. The actuary at Social Security said, if that plan goes through, Social Security will be bankrupt by 2023.

Folks, I promise you, we can do this.

Let me close by saying this. I know -- I know a lot of people around here are tired of feeling overlooked and disrespected. I get that.

The people I met this week taking a train through Northeastern Ohio and Western Pennsylvania, people like the dedicated elementary schoolteacher from Lordstown, Ohio, whose husband, when Lordstown shut down, accepted a transfer in Kentucky eight hours away each direction, in order to be able to keep his health care and his pension after the GM plant closed.

Folks who worry about health care. Will the Affordable Care Act still be there for them? Why? Why, they ask, will I be among the 100 million Americans who could lose the protections for preexisting conditions, like asthma and diabetes, where once again women will be able to -- charged a higher premium just simply because they're a woman, where insurers no longer have to allow you to be able keep your kids on a health care plan until age 26?

What will happen to your Medicare benefits, your Social Security? Will they still be there when you retire?

I'm asked many times in recent years, how do we get to the place where people who stock our shelves, pack our food, teach our kids, like my family, take care of my wife, take care of our sick, who race into burning buildings and pick up the garbage off our streets, who did, how do we get to the place where you all don't think we see you anymore or hear them, and, most importantly, respect them?

That has to change. I know it can. I come from those neighborhoods. We can get this pandemic under control, so we can get our economy working again for everyone.

But this cannot be a partisan moment. It must be an American moment. We have to come together as a nation.

I'm running as a Democrat, but I am -- will run and govern as an American president. Whether you voted for me or against me, I will represent you.

And those who see each other as fellow Americans who don't just live in red states or blue states, but who live in and love the United States of America, that's who we are.

And there's never been a single, solitary thing that America has been unable to do -- think of this -- not once, not a single thing we have not been able to overcome. And we have done it together.

So, let's get the heck up, remember who in God's name we are. This is the United States of America. There's nothing beyond our capacity.

I want to say, God bless you, and God protect the first family and every family who is dealing with this virus. And may God protect our troops.

Thank you, thank you, thank you.

(APPLAUSE)

CAVUTO: All right, you have been listening to Joe Biden.

Right now, he has the floor to itself, because the president's silenced in the White House residence.

But a couple of things I just did want to add here. He talked about the president maybe ending up being the first one who leaves office with fewer jobs than when he came into office. There was this little thing called

COVID-19 and a worldwide pandemic, of course, that affected more than 140 nations on this planet.

He also talked about a dismal unemployment report today. We did see 661,000 jobs added to the economy and the unemployment rate itself slide to 7.9 percent. In March in April, it had gotten over 15 percent. So, it's been cut in half.

And of the 22 million jobs that were lost over that period, more than half have been made back in just the last few months since the worst levels.

Also, to put it in some perspective here, while the job growth did slow, the unemployment rate for African-Americans came down to about, in this latest period, 12 percent from 13 percent. For Asian Americans, it fell to about 8.9 percent from 10.7 percent.

I should also point out that manufacturing jobs, which the former vice president say were melting away under this president, well, they actually picked up more than 66,000 in this -- in this latest month.

So, some of the pre COVID-19, the pandemic shutdown losses have been made up there, more than half of those jobs back.

So, again, I just wanted to put that in some perspective. It is not as dismal as it appeared.

Furthermore, one other reference that the vice president made -- or the former vice president -- to this push to set aside any federal contract for American, American-only companies, that initiative did start under President Trump. He and Barack Obama eight years if they wanted to have put such an American-only plan. They did not.

Just want to make sure that we get our numbers right.

Anyway, back with my friend Bret Baier, who has been patiently sizing this up.

The advantage of being the guy who's able to talk to the press right now is that you're the only guy that is talking to the press and talking to the nation. He certainly took full advantage of that today.

It's a reminder how difficult this can be, and certainly for Donald Trump, at this time, these next two weeks, huh?

BAIER: That's right, Neil.

I mean, he started out with nice message to the first family and praying for their recovery.

Then, as you note, he got into the economy, and specifically targeting the numbers coming out of what he called the Trump administration economy, not talking about what COVID-19 did to the economy that was chugging on all cylinders.

What exactly Joe Biden would do as president differently when COVID hit with the economy is a question. Also, is he picking up the phone and calling House Speaker Nancy Pelosi to get this latest coronavirus stimulus bill across the finish line, or something? Something is better than nothing for the U.S. economy.

He dismounted with what he traditionally does, that this is not a partisan moment, it's an American moment, and we should all be together. But he spent a lot of time with partisan jabs on economic numbers.

I think this is a benefit for Joe Biden. He's delivering this with a mask, obviously with the message that he's different than President Trump. But he's in Michigan on the ground, and the president is in the White House.

CAVUTO: Bret Baier, thank you very, very much.

I want to go to our colleague Chris Wallace now on this situation.

I mean, I'm thinking, Chris, there's a debate planned on the 15th. This might happen. It might not happen. But this is a classic example of, now he has the field himself. I'm talking about Joe Biden. And he capitalized that very shrewdly today.

The tables have turned, haven't they?

CHRIS WALLACE, HOST, "FOX NEWS SUNDAY": The whole political situation turned upside-down overnight when we learned that the president has contracted the coronavirus.

For so many weeks, for so many months, President Trump was out on the campaign trail holding rallies, speaking to the country, and Joe Biden -- and a lot of people mocked him, that he was hidden in his basement. And when he went out with the mask, and instead of crowds of thousands, crowds of dozens or singles, with those big circles around.

And now, suddenly, it's flipped around, and Joe Biden is out on the trail and the president, at least for this one day, is silent, as he recovers, and we hope recovers quickly, from the coronavirus.

It just shows that things can change rapidly in politics and may change rapidly again. We're 32 days out from the election, and who knows what the next four weeks is going to bring?

CAVUTO: I'm just wondering, too, Chris, what this does for the debate schedule now.

I mean, yesterday, at this time, we were talking about and you were articulating, do you really want the moderator to play the role of pulling mics from those debating? And now here we are wondering whether there will be a debate. Certainly, the vice presidential one looks like it still could be on next week in Salt Lake City.

But the next presidential one on the 15th, that's cutting it close and it might not happen. What are you hearing?

WALLACE: Well, I -- the -- I have talked to members of the Commission on Presidential Debates,. They're going ahead. They certainly expect the vice presidential debate next Wednesday, the 7th.

As for the 15th, well, the president contracted -- or tested positive for the first time on the 1st. So the 15th would be 14 days later.

It -- look, as I have been saying all along, you can't spin the virus. It's a natural phenomenon. You can't talk it down or play political games with it.

If the president recovers quickly -- and we all hope he does -- he could be out from under in -- within 10 days, and then clearly able to go conduct the debate.

But, obviously -- and we certainly hope that doesn't happen -- if he has some complications, or if it takes him longer to recover, then I think, obviously, that debate and the debate a week later on the 22nd are very much in doubt.

So, it totally depends on the course of the president's recovery from this disease.

CAVUTO: You know, Chris, we were talking to Bret about this as well. A number of doctors say how easy it is to catch this coronavirus, this COVID- 19, and now proof that those powerful and cared-for guy on the planet has got it has changed the dynamics of this race yet again.

People are talking about it, fearing about it. The fallout is pretty palpable. What do you make of it?

WALLACE: Oh, absolutely.

Look, this was the man in the biggest, most perfect bubble in the world.

Everybody that came in contact with the president had to get tested every day. I interviewed him in mid-July, and with a camera crew and a producer, and every one of us had to take a swab.

And before we could get in anywhere close to even set up for the president, they had -- and it was one of the quick result tests.

CAVUTO: All right.

WALLACE: They had to say, yes, in fact, you're all clear.

But, even with that protection, the president can still get it, which says a lot about this virus.

CAVUTO: Changed the whole landscape.

Chris Wallace, thank you very, very much, my friend.

We will be exploring this in much greater detail tomorrow in a live version, "Cavuto Live," the fallout from all of this.

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