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Erin Burnett Outfront

Trump's DOJ Abandons $1.8B Fund After Intense Backlash; Democrats Grapple With Graham Platner Sexting Revelations; Trump Calls Out Netanyahu. Aired 7-8p ET

Aired June 01, 2026 - 19:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[19:00:23]

ERIN BURNETT, CNN HOST: OUTFRONT next:

Breaking news on this Monday, Trump backing down, with his Justice Department pulling Trump's $1.8 billion legal fund. But is this for real?

Plus, breaking news, another record high on Wall Street tonight, while economic warning signs are flashing red. Should you put money in stocks?

Suze Orman is here. She's live and she's taking your questions. Send them in.

And the top Dem in the House calling for a New Jersey ICE facility to be shut down. He went there. He toured it. He's our guest. He'll tell us what he witnessed.

Let's go.

(MUSIC)

BURNETT: And good evening. I'm Erin Burnett.

And OUTFRONT tonight, the breaking news. Trump caving. His Justice Department abandoning, for now, the creation of the $1.8 billion Trump fund after intense backlash from his own party. That decision coming after a face-to-face with House Speaker Mike Johnson about the fund.

And it's a major loss for Trump. He had crowed about this taxpayer- funded, multibillion-dollar payout to people that Trump claims were targeted by a political DOJ, people, he says, like himself.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: It's been very well- received, I have to tell you.

Also, the anti-weaponization of people -- I mean, people were destroyed. We think that those people, we think that anybody involved in that process should partake. And you're talking about peanuts compared to the value. It destroyed the lives of many, many people. (END VIDEO CLIP)

BURNETT: He was, of course, January 6th people were included in that, right? They never said that they wouldn't be included.

And Trump's retreat comes hours after Democrats, including Senator Adam Schiff, who's going to be on the show in just a moment, introduced a bill to kill the fund. But this is just the latest retreat for Trump. He now says he wants to cancel his Freedom 250 concert after just about every artist backed out. They had signed up a long time ago.

This was supposed to be for everybody. It became for Trump, and that was a problem. Trump now writes, "Cancel it, just like I canceled my involvement with the failing and unsafe to be in Kennedy Center."

Now, of course, as a point of fact, Trump did not cancel his involvement with the Kennedy Center. A judge ordered his name be taken off the building.

But Trump is spending time on these sorts of things. In fact, we have a window into how a president in wartime is now spending his time.

Over the weekend, Trump posted a picture of the reflecting pool detailing the steps that crews are now taking from sandblasting to priming. He posted about his ballroom with an A.I. image of what he said will be a drone port on top of it. He posted multiple pictures of himself on Mount Rushmore, multiple of that.

He also posted multiple pictures of himself and George Washington, as you can see several of those. This is all just, you know, over the weekend, a few hours. He posted about the UFC fight on the White House lawn.

And he slammed Republicans, various seemingly unpatriotic Republicans, to use his exact words, for making it harder for him to do his job by, quote, "negatively chirping at levels never seen before".

And now that one, perhaps certainly more self-aware than any of those other ones, but it was Republicans who did ultimately force Trump's hand on the issue of the Legal Defense Fund. And they are not alone in their frustration or consternation or confusion.

Take Dave Rubin, a right-wing social media star who supports Trump. He recently drew a blank when he was asked for a single example under which the economy has improved under Trump.

(BEGIN VIDEO CLIP)

HOST: So what's the main metric that he made better off?

DAVE RUBIN, PRO-TRUMP COMMENTATOR: What?

HOST: What's the main metric that he made better off? GDP, unemployment, inflation? Do you have any idea?

RUBIN: Listen. Listen.

HOST: I don't think you do. (END VIDEO CLIP)

BURNETT: All right.

OUTFRONT now, let's go to Democratic Senator Adam Schiff of California, as promised.

And, Senator, I appreciate your time.

So I just want to start with this fund, because I know you were introducing the bill today, right, that would block the $1.8 billion fund. That would go to people that Trump says were wrongly prosecuted. That could include January 6th convicted participants.

Do you believe that Trump's attempt for this fund is over, that it's really gone?

SEN. ADAM SCHIFF (D-CA): No, I don't. I think this is a tactical retreat. He wanted this to be part of the reconciliation bill that we're taking up this week, which is really supposed to be focused from the Republican point of view on more billions for ICE and CBP, but was weighted down first by a billion for the ballroom and then by 1.8 billion for a slush fund.

So I think this is just Trump saying, okay, I'm not going to include it in this bill, but I'm not giving up on this idea. I think the courts also helped force his hand at least temporarily. The courts putting a pause on this.

But this is the most brazen act of self dealing, corruption we have seen yet at a time when, as your last clip demonstrated, the economy is really struggling.

[19:05:08]

People are struggling. The cost of living is way too high, and they want -- American people want the president and Congress to be focused on that, not enriching himself and his cronies.

BURNETT: So, Senator, I mentioned the face-to-face with Mike Johnson, which appears to have been important, that meeting between Trump and the speaker, because obviously, if this were your bill and Democrats who are against the fund, Trump could have cared less and he would have gone ahead with it, right?

I mean, it was Republicans who turned on him that forced his hand, as you say, for now, right? But that included the leader of the Senate, John Thune. He had made it clear that he was against this.

And, you know, look, I know this is a question that over the years I've probably asked you multiple times. But I am curious in the context of people like Thomas Massie and Cassidy and Cornyn as to whether you believe, Republican lawmakers, that anything shifted, that they're going to actually start standing up to him on other things as well?

SCHIFF: I do think as we get closer to the midterms and as Republicans start to fear their own voters more than they fear the president, you will see more independents. But I don't think we're seeing a seismic shift.

I also wouldn't overstate Speaker Johnson's role in at least temporarily putting a pause on the slush fund. Johnson has been nothing but a rubber stamp for Donald Trump. I think hearing Senate Republicans speak out and not just privately, which we've heard many times in the past --

BURNETT: Yeah.

SCHIFF: -- but publicly and talk about what a shameful and stupid political exercise this is. I think that was far more responsible for this tactical retreat. I would like to think Republicans are at a sea change, but we have been disappointed so many times in the past. So we'll see. Time will tell.

BURNETT: Interesting, though, that you see much more from the Senate, the pressure there, than from the speaker.

I want to ask you about something else, because here we are on Monday night, and Tuesday is a big day, and it's a big day in California for the race for governor with the primary. You were the first named senator to endorse Eric Swalwell, which, of course, was before multiple women came forward with sexual misconduct allegations against him. His campaign was over, and the field since then has been in somewhat chaos.

Who are you going to be voting for?

SCHIFF: Well, I've already voted, but I've not made an endorsement, so I'm not going to talk about my vote or that would constitute an endorsement.

I was only going to weigh in again after Swalwell left the field if there was a real risk that Democrats with our top two system might be shut out. I think that is now much less than it had been earlier in the race. It looks very likely that there will be one Democrat at the top of the field.

The question now is whether there'll be two Democrats who make the runoff or a Democrat and Republican. And those I think polls are too close to tell, but I think that's the issue that Californians are facing right now.

BURNETT: Do you really think it could be two Democrats as opposed to one Democrat, which I guess according to polling, that would be Becerra, if it goes according to polls, and a Republican second, whether that's Hilton or Steyer. But you believe you could have two Democrats

SCHIFF: It is certainly possible. The number two and three position in most polls is very close between Steyer and Hilton, the Republican, so that's entirely possible. I think this is honestly a terrible system because I think voters don't want to be disenfranchised from a choice for someone from their party. And we've seen it work both for and against Democrats and for and against Republicans. So I hope this will breed a conversation about whether it makes sense to use this system going forward.

BURNETT: And I will say Mr. Hilton is going to be a guest on this program later on this hour. So we're going to be speaking to him.

I do want to ask you one other key race, and that is Maine, right? And obviously, when it comes to the Senate, that's a crucial pickup opportunity, right? It could come down to Maine. And now we've learned that the Democratic candidate, Graham Platner, sent sexually explicit texts to many women who were not his wife. And obviously, he's already admitted to having covered up a Nazi linked tattoo.

So I mean, do you think he's fit? Do you worry about Graham Platner? Are you OK with him because he's a Democrat?

SCHIFF: Well, I'm going to wait to learn more about these recent allegations involving his texting other women. Ultimately, though, it's going to be up to Maine voters what they decide, how important or unimportant that is, and how important to focus on the economy, cost of living and those issues are.

But I'm going to wait until I know more about what just came out within the last 24, 48 hours to really say more about it.

BURNETT: All right. Well, I appreciate that. And Senator Schiff, I appreciate your time. Thank you very much.

And David Axelrod and Gretchen Carlson are both here with me in the flesh. Gretchen and I were saying, it's nice to see you.

DAVID AXELROD, CNN CHIEF POLITICAL ANALYST: Nice to see you both.

BURNETT: I think it's been longer than I like it to be that I've seen you in person.

Okay, so, Platner.

AXELROD: Yes.

BURNETT: Okay. Is a Platner --

GRETCHEN CARLSON, FORMER FOX NEWS HOST: Go ahead, David.

BURNETT: Is a Platner win good for Democrats? I mean, he's right. There's things we don't know, right?

[19:10:01]

But there's obviously a lot of things that other Democrats would have a lot of problems with if they weren't put in a Democratic package.

AXELROD: Yeah, look, he's clearly not the perfect person or the perfect candidate. He's himself acknowledged that he's kind of a flawed -- that he's a flawed person. And he's been very open about working on that.

This was -- this was -- this is a messy story and it was poorly handled by the campaign. And the question is really one of trust. Do people trust him? And do they trust Susan Collins? And are they focused on his life or are they focused on their own lives?

Obviously, it's good for the Democratic Party if a Democrat wins that seat in Maine. And that's you know, that's a big focus for Democrats. But for people in that state, they've responded to him because despite all of this, he seems to be, he is speaking to the fundamental concerns that they have about a system that they think has been unfaithful to them, a system that is corrupt.

And the question is, do their questions about him override their questions about the system of which Susan Collins is kind of an avatar?

CARLSON: But that's from the voter perspective.

BURNETT: Yeah.

CARLSON: You know, this will be a huge decision for Democrats about whether or not they're going to pump a bunch of money into the state of Maine to advertise for him. And I think it speaks volumes about the fact that you have people with foibles and flaws on both sides.

I do think it's interesting that more Democrats have come out and voiced concern about Platner than I would say Republicans have about Ken Paxton, for example.

BURNETT: Right, right.

CARLSON: I mean, Cornyn made complaints about Paxton when he was running against him, but now he says he's going to endorse him. And I haven't seen many other Republicans say much about Paxton's past.

So I think this is a critical moment for maybe the Democrats to take a step and say, look, we don't agree with this behavior. But the ultimate thing to me will be how much money they're going to pour into the race.

AXELROD: Yeah.

CARLSON: Or if they're going to look to other states to try and get a victory there.

AXELROD: I will say this, Platner has raised a lot of money on his own, and it's not that expensive. I do think an enormous amount of money is going to be spent there. But again, you know, I think Collins is a long-term incumbent at a time when there's a big anti- establishment mood.

There is concern about the way she has walked the line in the past. You know, someone said to me that you can erase -- you can eliminate a tattoo. You can erase a tattoo. You can't remove a Supreme Court justice. And that's kind of the choice that people are going to have to make.

BURNETT: So I'm, in all of this, okay, enter the role of Israel, because I'm just looking at a tweet from Graham Platner tonight, and he's saying, staggering one-third of her money, referring to Collins, raised this quarter, comes directly from AIPAC. Senator Collins is bought and paid for by Benjamin Netanyahu, and she votes accordingly.

Now, this has become central to, this was Thomas Massie made the same point. Okay, so this goes on both sides in terms of people making the point about Israel.

In this context, David, I want to ask you about what just happened now. Trump says that peace talks are continuing. Iran says they're over. You know what? At this point, who knows? But the strait is closed, okay? And the economic pain is still coming.

AXELROD: Yes.

BURNETT: But now we've got a call, a reporting coming tonight. This is from Barack Ravid and Mark Caputo. Trump said to Netanyahu apparently on a call today or over the weekend about what was going on to Netanyahu.

He says, "What the F are you doing? You're effing crazy. You'd be in prison if it weren't for me. I'm saving your ass. Everybody hates you now. Everybody hates Israel because of this."

CARLSON: Wow.

Do you think -- what do you -- what do you read into that? That's in quotes.

AXELROD: It doesn't sound like a very friendly call.

Look, I think that the president -- his analysis is not wrong. I think, you know, Bibi Netanyahu has done tremendous damage in my view to Israel and to Israel's standing in the world.

And this war, I think what Trump's really mad about, if you believe the reporting in "The New York Times" on this, and I do, Maggie Haberman's reporting, Jonathan Swan, Bibi had a lot to do with talking the president into thinking this was a good idea. And that's what he's really mad about.

What he's mad about is Bibi has created a huge political problem for him because the economy is the thing that is on the minds of Americans, and he has made it worse, and he promised to make it better, and that was his calling card. He was Mr. Economy, and now their costs are going up, and we're mired in this war.

CARLSON: And there's no way out.

BURNETT: Can he turn -- can he successfully turn, though, and suddenly be -- I'm the guy. I mean, I don't know who leaked this, but -- I would imagine Trump's fine with this being out there. If he talks like this and someone leaked it out there, he wants people to know. So, all of a sudden, he's going to say, oh, this is how I feel about Bibi Netanyahu.

CARLSON: Yeah, I imagine this happened because Israel is attacking Lebanon again now. And that's why Iran's upset and apparently not continuing with the talks, right? So I can understand why he would have this sentiment.

[19:15:02]

But it's a deeper sentiment about anger because Trump can't get out of this war. And so to your concern, I can understand why he would have this sentiment, but it's a deeper sentiment about anger because Trump can't get out of this war. And so to your concerns about the economy, which are totally accurate, what is he going to do to be able to win this war against Iran and therefore lower costs for the American person?

AXELROD: Well, time is -- the time is moving along.

CARLSON: Yes.

AXELROD: And so even if they resolve this, and now it looks like it's going to take a while longer, as you know, Erin, because you've covered this stuff for years. It takes a long time for the effects to pass through and resolve themselves.

BURNETT: Yeah.

AXELROD: So it doesn't mean gas prices are going to go down. It doesn't mean grocery prices are going to go down. The president has created a huge problem for himself.

And he did -- and he overrode the concerns of some of his advisors who told him what Bibi Netanyahu is telling you. It's not true. It's not going to be easy to topple the regime, certainly not without boots on the ground. It's not going to be, it's -- you know, it's not the Strait of Hormuz is a concern.

He overrode those concerns. So I -- it's very clear to me why he's angry at him. And he may be looking for someone to blame.

BURNETT: Yeah. All right, thank you both very much.

And next, a face-off tonight between the top Democrat in the House and one of Trump's top Homeland Security officials. Hakeem Jeffries accused of inciting violent riots. The House Minority leader responds next.

And Suze Orman is here with us tonight. She is taking your questions. So we're talking about the economy here. What do you want to know? What are your questions? E-mail us, so we can get those questions in OUTFRONT at CNN.com.

And we were just talking about what has become one of the hardest races to predict, and that's the race for California governor. Steve Hilton, top Republican contender, is our guest, why he believes he has a shot in deep blue California.

(COMMERCIAL BREAK)

[19:21:14]

BURNETT: Breaking news, shut it down. The top Democrat in the House today calling for the Delaney Hall Immigration Facility in New Jersey to close its doors. And that comes as the state is bracing for another night of protests outside that facility, which is in Newark. The protests are over alleged inhumane conditions inside the facility, which has 1,000 beds.

The allegations are that there are worms in the food, extreme cold, overcrowded rooms, lack of medical care for detainees, some of whom may have cancer or diabetes. And numerous people were arrested last night for protesting, as you can see, outside post the curfew.

Now, the House Minority Leader, Hakeem Jeffries, just visited the facility, and he is now OUTFRONT.

And, Leader Jeffries, I appreciate your time.

So I just detailed a few of the allegations out there. But can you tell me specifically, what did you see and witness during your visit that convinced you that Delaney Hall has to be shut down?

REP. HAKEEM JEFFRIES (D-NY), MINORITY LEADER: Well, good evening. Thanks for having me on.

Listen, Donald Trump promised that immigration enforcement in this country was going to target violent felons and the worst of the worst. That's not what has happened. Taxpayer dollars are being used to brutalize or kill American citizens, which is what we horrifically saw happen in Minneapolis, or to violently target law-abiding immigrant families.

Not a single person who we spoke with at Delaney Hall yesterday was a violent felon, someone who had been convicted of a crime or presented a danger, as far as we can tell, to the community. In fact, we spent a good amount of time with an 18-year-old girl who was a month away from finishing her high school graduation and has been detained now in Delaney Hall for months, who also appears to be here on a U Visa, which is available for juveniles, and has been ripped away from her family, including her two children, siblings, who are here as American citizens.

We also spent some time talking to a whole lot of folks with serious medical conditions who clearly have not gotten basic medical care. Now, immigration enforcement in this country, it should be fair, just, and humane. And nothing that we saw at Delaney Hall or that people have previously experienced at Delaney Hall suggests that that is what is taking place, and that's why we believe it should be shut down.

BURNETT: So the Acting Assistant Secretary for Homeland Security had a comment about -- about your claims and other criticism, saying, "Sanctuary politicians are spreading categorically false smears about ICE's Delaney Hall facility in New Jersey. These types of smears are inciting violent riots outside the ICE facility in New Jersey. No lawbreakers in the history of human civilization have been better treated than illegal aliens."

What do you say to that?

JEFFRIES: Well, it's a wildly irresponsible claim, but this is what we should expect from the Department of Homeland Security and ICE, which is deeply unpopular with the American people or from the Trump administration. Not a day goes by without them peddling a lie to the American people.

And they obviously are trying to distract from the fact that the administration has been a total failure, a failure on the economy, a failure on immigration enforcement, a failure as it relates to this reckless and costly war of choice in the Middle East, which has caused gas prices to skyrocket rocket for tens of millions of everyday Americans all across the country, we will continue to encourage people who show up outside of Delaney Hall to comply with the law and to peacefully demonstrate consistent with the First Amendment.

[19:25:00]

At the same period of time, as members of Congress led by the New Jersey congressional delegation, particularly LaMonica McIver and Rob Menendez who have done a tremendous job, are going to continue to exercise our constitutional responsibility to engage in oversight to ensure that taxpayer dollars are being spent consistent with American values.

BURNETT: I want to ask you about something else, if I may, Leader Jeffries. And this is a report from our KFILE tonight about Darializa Avila Chevalier, a Democratic socialist. She's endorsed by the New York City mayor, Zohran Mamdani. She is challenging the incumbent Congressman Adriano Espaillat. Now, she deleted a previous Twitter account, but KFILE found a lot of the deleted posts and reposts, and I just wanted to share a couple of them with you.

One of them is Avila Chevalier responding to a user asking what a better slogan would be than "defund the police" by posting, "F you. We're going to defund and abolish. You don't get to water down our movements."

There's another one, this one's from 2020, so obviously prior to any of the conflict in the Middle East, in which Chevalier reposted a tweet which responded to a social media prompt. The prompt asked, "Israel suddenly disappears. Your third emoji is your reaction."

And then she reposted a tweet that said, "Trick question -- Israel doesn't exist."

Now, Leader Jeffries, she has not disavowed these posts. She did tell CNN, quote, "I have grown considerably since in the years since these tweets." And you have endorsed her opponent, Congressman Espaillat. But you know, those views, if she's elected, do those views have a

home in your caucus, in the Democratic Party?

JEFFRIES: Well, listen, the voters are ultimately going to decide this primary election, and Adriano Espaillat, in my view, is going to win.

Adriano Espaillat has been a tremendous leader. He's leading in terms of battling Donald Trump. He's leading as it relates to battling and pushing back against ICE's violent mass deportation machine, and he's been one of the leaders in pushing back against Donald Trump's reckless and costly war of choice.

I'm unfamiliar with his particular primary opponent. Obviously, you know, the language that she's used, as is the case with any candidate, speaks for itself, and she's going to have to explain herself, of course, to the people of Harlem, the people of Washington Heights, and the people of the Bronx.

We're going to continue to stand firmly behind Representative Espaillat. He's got a track record of accomplishment, but more importantly, a progressive vision for the future to make life better for the people he represents.

BURNETT: Okay, so it's clear where you stand. I mean, who you've endorsed, right? You say she has to speak for herself on those. those posts. But Mayor Mamdani praised her. Now, he didn't address the controversial posts, okay, but he said, quote, "At a time when power is concentrated in fewer and fewer hands, Darializa will fight in Congress for New York's working families. She's the champion we need for a city New Yorkers can actually afford."

Are you disappointed in that response, given just those examples that I share? Does it surprise you that Mayor Mamdani would say that?

JEFFRIES: The mayor and I have agreed to strongly disagree as it relates to this particular race. And we, as House Democrats, certainly members of the New York delegation, but also the Congressional Hispanic Caucus, the Congressional Black Caucus, members of goodwill in terms of the organized labor movement who are strongly behind Adriano Espaillat, we've got to put the work in over the next few weeks to make sure that his track record is clear, it can't be distorted.

And that Adriano Espaillat is able to communicate the fact that he is an actual, genuine leader who lifts people up as opposed to trying to tear people down.

BURNETT: Leader Hakeem Jeffries, I appreciate your time and thank you very much.

JEFFRIES: Thank you.

BURNETT: All right, and next, we are just hours away from another crucial election day, and it's in California with Democrats on edge. Can our guest, Steve Hilton, who has been rising in the polls, shut out Democrats altogether from the race for governor? And Suze Orman is OUTFRONT, and she's taking your questions next. So

what do you want to know? You got a few more moments. Please e-mail them in. She wants your questions, e-mail us at outfront@cnn.com.

(COMMERCIAL BREAK)

[19:34:03]

BURNETT: Breaking news, the S&P 500 closing at another record high tonight as the stock market is getting ready for three companies that want to seize that moment. Anthropic, the company behind the A.I. tool Claude, filed to go public today. That would be a trillion dollar potential valuation. OpenAI, they're at a race which one can get more than money first. OpenAI, of course, is ChatGPT. They're expected to file soon.

And SpaceX, expected to go public next week. They've even been changing the rules to make that one out there, likely the largest IPO ever that would make Elon Musk the world's first trillionaire, most likely. This surge coming despite a lot of seriously troubling economic indicators. Inflation at three-year highs, gas prices through the roof, consumer sentiment at more than generational lows, 70-year lows.

OUTFRONT now, Suze Orman, one of the world's best known personal finance advisors, host of the "Women in Money" podcast. In a moment like this, we need you, Suze, and she's here to answer your questions.

So e-mail them in. If I can get them in during the segment, I will, outfront@cnn.com.

[19:35:00]

Also, I want everyone to know before we even start, Suze, that you have a free ultimate financial advice webinar, and that is this Thursday, June 4th. It is free, and you can go to SuzeOrman.com to sign up. Watch the segment first, everybody, then go over there because I'm going to remind you again about it.

But, Suze, let's start with this, right? An economic outlook that is unsettling and worrisome. People are afraid.

But a market that day after day is high after high, record after record is, you know, if you get in the market right now, are you getting in before a big crash, or is it still a good idea?

SUZE ORMAN, FINANCIAL EXPERT & HOST, "WOMEN AND MONEY" PODCAST: You know, haven't they said that for a long time now? Haven't we said, oh, we're in a bubble with A.I., that don't get in. It's too high. Nvidia can't go higher. Nothing can go higher, but yet it keeps going higher and higher.

So the way you invest in a market that you're unsure of is it going to continue to go up or come back down is simply through dollar cost averaging, Erin. You would never take a big lump sum of money right now and put it in the market. If you had $12,000 to invest, you may put $1,000 in this month, next month.

And all of you actually, if you have a lot of time on your side, and you should or you shouldn't be in the market five years, 10 years or longer, you should wish and pray that this market crashes. Because the more it crashes, the more shares you get with your dollars.

So don't keep wishing that it goes up and you're going to miss out on anything. The only thing you're going to miss out on is if you don't invest correctly through dollar-cost averaging, you could be hurt big time.

BURNETT: All right, which, okay, so there you go. You actually should be hoping for the crash. That may make some people feel better.

Now, if you're going to do this, you want to buy stocks. You're going to go dollar cost average, take your $12,000 number. You're going to put $1,000 in every month or every other month. You know, do it bit by bit.

I guess the question, Suze, is how? I mean, there are more ETFs, exchange traded funds, now than there are individual stocks. That's actually kind of could be a scary thing too. What do you do?

BURNETT: So obviously, for years, I've been telling everybody to dollar cost average into VOO, the you know, which is a Standard and Poor's 500 index fund. So you want to diversify, but there are other funds like for a long time now, I've been having everybody for the past year, November, invest in a semiconductor ETF called SMH is the symbol. And I remember it was at 325 and everybody said, oh, Susie, you can't go any higher. It's almost at 600 today.

There are all kinds ETFs that are out there. A new one has just come out by the name of FITZ, F-I-T-Z. That is a core fund. That is something I think all of you might want to look into. I like that again a lot.

But you have biotechnology ETFs. Unless you have a lot of money, where you could buy at least 20 or 30 stocks. What you should be doing is purchasing exchange traded funds and let them do the picking and the selling and everything for you. It's very difficult if all you have is enough money to buy one stock. Apple currently is my actual favorite stock, but also I've been more than 25, 30, 50 stocks so I can diversify that way.

BURNETT: Yeah.

ORMAN: So if you don't have a lot of money, do an exchange traded fund.

BURNETT: Okay, you mentioned Apple and we just got an e-mail because we've been getting a lot of emails during the commercial break. A viewer emailed in saying, I have a good amount of Apple stocks. Should I keep it or should I diversify?

ORMAN: Well, it depends. What else do you have? See, that's the problem. This viewer just said, I have a lot of Apple. They did not tell us, Erin, what else do they have? So how can you answer that question?

But here's the answer. If all you have is Apple, period, oh, you bet you better buy something else because you have to have something, for instance. Oil went up today. So do you have like Chevron?

Things happen every day. Do you have a defense stock? Do you have Raytheon? You have to have certain areas that you want to be invested in across the board that will protect you in down markets, help you in up markets, whatever it may be.

But if you have other things besides Apple, don't you dare sell one share and in fact dollar cost average into it more and more and more,

BURNETT: Which I think is important to what you're saying. You're saying if there one stock you buy, it's Apple. You're not saying the only stock that I would hold is Apple, right? Those are two different things. So you made that very clear.

ORMAN: Right.

BURNETT: Okay, I got to ask you something else. We got a via X, we got a message from Pam Ella Casual or Casual. I'm not sure, Pam, how to say your name, but she asks, what is the best way for young people to grow their wealth? Stock market, rent versus own, Roth, IRA, et cetera.

Let me just ask you to tackle this from one specific question because I'm going to follow up on another part of it in a second. But that is, you know, do you get in via Roth IRAs?

ORMAN: So whether you're young, old, I don't care how old you are, you, in my opinion, have to be out of your mind.

[19:40:00]

If you are investing in a retirement account and it's anything other than a Roth, whether it's a Roth 401K, 403B or TSP, and besides an employer-sponsored plan, you can absolutely also have a Roth IRA if your income allows.

So the best thing anybody could do, especially a young person, would be maxing out their Roth IRA every single year if they can, but only after if they have a job, if they have a Roth 401 and they match the contribution, they have to do that first.

BURNETT: All right. So, now, Pam had asked about rent versus own. I want to follow up with that with another question. It is from Michelle Schroeder in Atlanta.

She's new homeowners or relatively new homeowners is the perspective here. And obviously, the housing market is a really scary place for a lot of people right now, what with rising interest rates and just very difficult to sell. Let me play the question here.

(BEGIN VIDEO CLIP) MICHELLE SCHROEDER, OUTFRONT VIEWER: My question is for homeowners who purchased within the last three years and had really high rates. What would you recommend we do to maintain an affordable lifestyle? Many of us bought houses expecting the rates to maybe drop in the future, but it seems like it's been a really big struggle for that. I'm curious what you would recommend for folks who are looking to have real estate assets and maintain them, but also building wealth for the future for their children.

(END VIDEO CLIP)

BURNETT: What do you say, Suze?

ORMAN: I have to tell you about. If I were going to be building wealth for anybody, I would not be building it in real estate anymore. I'm very afraid it's not just the interest rates being high, your mortgage rate. What are your property taxes doing? What are your insurance premiums being?

If you have a house anywhere in California and Florida and anywhere that there's been a flood, a tornado, a hurricane, good luck. So therefore, owning real estate very quickly, you have costs to own. You don't get to keep everything bottom line.

So I would absolutely if you want to own real estate, why don't you look at an REIT or real estate investment trust like Care Trust is a great one. Earn 4 percent on it, if you want things besides your home.

If you got in when interest rates were high, hoping that interest rates were go down -- would go down, that is your first mistake. You cannot buy anything hoping that something's going to change in the future. You have to buy something because you like where it is right now.

So, save your money, continue to do it. I don't, I'm sorry to say, I don't think you're going to see interest rates go down probably below a whole lot where you bought in three years ago.

BURNETT: All right. Suze, here's a rapid fire. Gold versus bitcoin, and this comes from a question on TikTok that we got where someone asks, should we still invest in gold or move to other utility funds? I know you've got strong feelings on gold, but on the flip of gold is something else, tell me.

ORMAN: So on the flip of gold is really bitcoin, but not a flip of gold. I'm not a fan of gold anymore. There are many reasons why. I think you're going to continue to see a decrease in it. I know there are many firms that are saying, oh, it's going to $6,800.

If you're going to invest in gold, please don't buy the physical commodity. Buy an ETF such as GLD.

Next, what would I buy in that speculative area? And by the way, I wouldn't have more than like two or three percent in ETF of gold. Bitcoin -- I'm a real fan of bitcoin. I know everybody's thought I'm crazy, but even though it's come down here from its high, I do think that there's a lot of potential in there.

But again, you would dollar cost average into it, and you would probably best be doing it through an ETF by the symbol IBIT, I-B-I-T. Obviously, you can buy it yourself if you want directly. However, you know, don't put a lot of money in it, and whatever you put in it might be money that you really are willing to lose.

However, you can also invest in bitcoin by buying the companies that power bitcoin, that also, like, help to run bitcoin. So there's all kinds of ways that all of you can invest in it besides just buying it itself.

BURNETT: All right. Well, Susie, I thank you.

I will say we just got another viewer e-mail and the question is, how does Suze Orman stay so beautiful? So there you go ahead of your birthday. Big birthday, special birthday. You're a public figure, so I'm not outing you. Okay?

We know it's your birthday, but in honor of your birthday is you're doing this free webinar. So I just want to remind everybody of that because now we're done. I hope everyone will go over there. SuzeOrman.com this Thursday at 6:00 p.m. Eastern, 3:00 Pacific is Suze's webinar. with a lot more of what we talked about, and I will look forward to seeing you soon.

Suze, it's wonderful to see you.

ORMAN: Thanks, girlfriend. Take care now.

BURNETT: All right. And next, is California on the cusp of shutting out Democrats for running for governor? We're just hours away from finding out. And one of the top Republican contenders, Steve Hilton, is our guest.

[19:45:00]

Plus, Jimmy Kimmel, in a candid new interview, says late night TV is being poisoned.

(COMMERCIAL BREAK)

BURNETT: Breaking news, a Republican surging in the race to be the next governor of California as voters start heading to the polls in just a few hours. Now, that Republican is Steve Hilton. He's a British-American, former Fox News host backed by Trump. And his surge is coming as Democrats have been splintered after the high-profile exit of Eric Swalwell.

And Hilton seized the moment. He is second in polls ahead of tomorrow's primary. And the way it works in California, okay, is that the top two who finish tomorrow, number one and number two, no matter what party they are in, face off in the general election.

California Democratic Senator Adam Schiff conceded to me at the top of the show that Hilton could very well be in the top two after tomorrow's election.

And Steve Hilton is OUTFRONT now, the Republican candidate for California governor.

So, Steve, look, I appreciate your time because here you are. You are hours away from this election. The top two vote-getters advanced to the general.

STEVE HILTON (R), CALIFORNIA GOVERNOR CANDIDATE: Yeah.

[19:50:02]

BURNETT: This whole thing got blown up like a volcano with the Eric Swalwell debacle, and now he's gone.

Are you confident that vote-getters advanced to the general?

HILTON: I'm confident, Erin, but not complacent. The race has actually tightened quite a bit in the last few days. You've seen Tom Steyer spend a lot of money on this race, nearly $220 million, I think it is now.

And so it's basically a three-horse race for two slots. I think that we will make it because actually the big number that I pay attention to, and I think which is why we'll get change in November, is that there's a majority of Californians who think we need change. We've had 16 years now of Democrats running everything in California.

And the results are just pretty disappointing. We've got the highest poverty rate in the country, the highest unemployment rate, the highest cost of living by far, crime, homelessness, the school results are not great despite spending a lot of money.

Everywhere you look, there's this sense that things aren't working and it's time for change. And that's why I think it's actually really important that I'm in the top two so that Californians have a choice in November.

BURNETT: All right, so let me ask you about this, because there's change, and then there's Trump, okay? And President Trump, as you know, Steve, praises you. I mean, just this past weekend, here he is.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: And I'm a friend of Steve. I think Steve is great, and I endorse him.

(END VIDEO CLIP)

BURNETT: Trump has also promised to help you fix a state that he says has gone to hell. You were more polite in your language now. He says Steve can turn it around before it's too late, and as president, I will help him do so.

Now, this gets back to what I said. There's change, and then there's Trump. People may want change, but in California, they do not like Donald Trump. His approval rating is 30 percent. That's even worse than his average nationally.

Do your close ties with him, do you think those could hurt you tomorrow?

HILTON: No, I think it's actually the opposite. I think it shows that, first of all, for Republican voters, that's an endorsement that really matters. But way beyond that, and what really matters is how this affects California.

I think it's useful to have a governor who has a good relationship with the president so that he can actually deliver practical things for the state of California. And specific areas of policy where I agree with the president and the current leadership in California are fighting him, for example, opening up energy production so that we can reduce prices, which are the highest in the country, $2 higher than anywhere else in America, because we've shut down our own industry here, managing wildfires better by making sure that the timber is harvested from our forests, fighting fraud in our massive health care budgets.

There's so many areas where actually I think practical, common-sense cooperation with the administration, which, by the way, is what I would look to do with any administration, including a Democrat one, is actually something that will help Californians.

BURNETT: So when it comes to gas prices, for example, obviously California does have the highest in the country. I believe they do at this moment. If not, it's very close, right? $6.03, I believe. And you've promised to bring them down to $3.

Now, I know there's California-specific issues there. Obviously, a big part of why they have surged overall, though, recently has because -- is because of Trump's war in Iran. So when you say you're going to bring them from $6 to $3, OK, that sounds really good. It sounds really appealing. But Steve, why should people believe you that that is more than a really good-sounding campaign promise?

HILTON: Well, you're right that the Iran War has elevated prices around the country, but it remains the case that they're $2 higher here than anywhere else. But before the Iran War, there were 40 states in America that had gas at $3 or below. Most of them don't have oil reserves. Here in California, we have abundant oil reserves, but because of misguided ideologically-driven policies, we are now importing nearly 80 percent of the oil that we use.

That's actually increasing carbon emissions. It's not even achieving the climate goal, but it's much more expensive. As a result of that, refineries have been closing down. We've added all these costs and regulations without really doing anything to help the climate.

We can reverse all that, have a more common sense energy policy, and get prices down to what they are in the rest of the country.

BURNETT: All right, Steve Hilton, I appreciate your time. Thank you very much, and we will see what tomorrow brings. Thanks for being with us. HILTON: Thank you. Great to be with you.

BURNETT: All right, and next a sobering warning tonight from Jimmy Kimmel. Why he says late night TV is being poisoned.

(COMMERCIAL BREAK)

[19:59:11]

BURNETT: Finally tonight, Jimmy Kimmel warning. He believes all of late-night television is in jeopardy after "The Late Show with Stephen Colbert" was canceled. In a new interview with "New York Magazine's" Vulture, Kimmel says, and I quote, "In a lot of ways, I feel like I'm looking at my own future."

He goes on to say that he doesn't buy CBS's claims that the reason for the cancellation wasn't Colbert's jokes about Trump, but that his show was bleeding money. Kimmel says, "We're not just dying of natural causes, we're being poisoned." As for what that means, well, you can just listen to it for yourself. But Kimmel says he could go out in a blaze of glory, but it would be a very selfish thing to do. Kimmel showing no signs that he'll stop going after Trump anytime soon, saying, "I don't love him. I don't hate him either. I feel sorry for him. He obviously didn't get hugged a lot." It's an interesting interview on Vulture, though, altogether.

And thanks so much for joining us.

Check us out on X @outfrontcnn. And also, please follow us wherever you happen to be on social media, Instagram, TikTok. It's @ErinBurnettOutFront. You'll see our extras and moments you may have missed from the show. And you can always email your questions, as you did with Suze today to outfront@cnn.com.

"AC360" starts now.