this was part of a 12-tweet rant that is as yet unexplained. >> so this conspiracy theory has already been debunked. and it's happening at the same time that the clinton campaign has joined this recount in wisconsin. all of this as some trump advisers are ramping up their very public war with mitt romney, as he is still reportedly being considered for secretary of state. we have it all covered for you. let's begin with sara murray live in washington. >> good morning, alisyn. anyone who thought that donald trump would suddenly adopt a different tone now that he's the president-elect is going to wake up this morning disappointed. in fact, he's taking the unprecedented step of questioning the integrity of the american election system without offering any evidence. donald trump is falsely claiming he only lost the popular vote because millions voted illegally for hillary clinton. despite winning the election, trump is reviving unfounded allegations of voter fraud, a sign he is unwilling to drop his
penchant for conspiracy theories now that he's the president-elect. trump tweeting serious voter fraud in virginia, new hampshire and california. so why isn't the media reporting on this? serious bias, big problem. trump's tweet storm coming as hillary clinton's campaign joined recount efforts in wisconsin led by green party candidate jill stein. they plan to make similar pushes in pennsylvania and michigan after data security experts raised concerns over possible voting discrepancies. >> this is a total and complete distraction and a fraud and something they should drop. we will win again for the second time and they will lose again for the second time. >> reporter: republicans quickly slamming clinton, despite her campaign statement that they're not challenging the results. trump even quoting from her concession speech where she urged americans to move forward. adding, "so much time and money will be spent. same result, sad. the clinton campaign general
counsel responding to trump's tweets with a dose of irony. saying, we are getting attacked for participating in a recount that we didn't ask for by a man who won the election, but thinks there was massive fraud. >> i was asked a thousand times will donald trump accept the election results? and now you've got the democrats and jill stein saying they do not accept the election results. the idea that we are going to drag this out now, where the president-elect has been incredibly magnanimous to the clintons and to the obamas is pretty incredible. >> reporter: the clinton campaign and the white house say they see no evidence that voting systems were hacked, but stein asserts the recount is necessary. >> our voting system should have that kind of assurance built into it so there is automatic auditing taking place to make sure we're not being hacked. >> reporter: we are expecting to hear from wisconsin officials later this morning as to the status of that recount. as for donald trump's claims,
the transition team is seeing if they can offer any evidence for the suggestion that millions have voted illegally and still no response. >> all right. let us know if you ever get a response. joining us now is republican senator james lankford. >> good morning. >> what do you think of donald trump saying that actually he won the popular vote if you don't count the millions of people who voted illegally. of course, back here on earth we know that hillary clinton won the popular vote by 2 million votes. and there's no evidence whatsoever that millions of people voted illegally. >> yeah, as the saying there's no evidence that the russians actually hacked into the system and manipulated all the voting as well. that's the big challenge here -- >> well hold on a second. let me stop you for one second senator because there were all sorts of intelligence agencies, 17, people have quoted, saying that they did see evidence that the russians had tampered with the election -- >> now that's -- alisyn that is
very different than saying that there's evidence the russians hacked into the system. there's no evidence, and no one has made the accusation that the russians hacked into the voting machines and manipulated -- >> that's the dnc the e-mail you agree with that that there's evidence -- >> i do agree with that. i do agree the russians are very engaged in propaganda as they do around the world and clearly they did here. but that's very different than saying they hacked into voting machines, and actually changed votes. >> okay. >> what is being accused of right now is very different than one or the other. it's just an interesting irony that both sides of the aisle are now talking about fraud. if we went back before the election, there was only republicans that were talking about let's get voter integrity. make sure we can get voter i.d. make sure that we can make everything clear -- >> senator i'm confused about what you think about -- about president-elect trump's claim. do you believe that millions of people voted -- that there was voting irregularity and they voted illegally? >> i've not seen any voter
irregularity in the millions. there's always some on the edges. but i've not seen anything on the millions. i don't know what he was talking about that in that one. obviously you're reaching to his team to get clarification. >> right. so what is your plan? when the president-elect puts out things that for which there's no evidence or are just plain all erroneous what will congress do about that? >> look, it depends on what it is. you're already doing it right now with the press, being able to ask the question. that's a basic part of it. people ask for clarifications or questions. if there's something that rises to the level of a congressional hearing, that would be appropriate, as well. oversight should be the same, whether it's a republican or a democrat in the white house. oversight is oversight. but that begins with a free press that can be engaged in just asking the basic questions. >> yes, we're very grateful that we are part of the free press that can do that. and we take that very seriously. let me ask you -- >> very different than castro's cuba. >> indeed. yes. and we carry that mantle proudly and sounds like we're going to
be very busy for the foreseeable future trying to check state news and erroneous tweets. >> i'll let you ask the questions from there. >> let's talk about federal waste. i know that that's something that you're focused on. you're putting out your second annual report on government waste. you say that you found $247 -- 247 billion worth of federal waste and as always there are sort of silly entries into this when you find out what the government is spending money on. let's put this up, $2 million spent on giant pandas in china. finding out, you know, sort of what makes them tick. $2 million spent on children's emotions about foods and eating. and that's probably -- i mean look that's an important topic. i don't know what price tag you're supposed to put on that. but of course one of the elements of that is determining whether children are grossed out by food that's been sneezed on. you say. i think -- >> that's correct. >> i'm not sure we need to spend
a lot of money on that. >> i'd agree. >> $10,000 in a grant for silent adaptations of works of william shakespeare. i don't know why that's included because that's chump change basically $10,000. but, but i wanted to ask you on the bigger issue, the bigger issue of the deficit, and the debt, there have been various pundits who say that president-elect trump will actually add to the debt and deficit. here's what the tax policy center says that president-elect trump's policies would increase the debt by $7.2 trillion over a decade. how do you feel about that? senator? >> so we have to address the debt. this is one of the areas that wasn't addressed much in the election by either side. in fact i think we're in our fourth debate before we got into a real conversation about debt and deficit. but it's a serious issue that we need to resolve. we're approaching $20 trillion in total debt in the country and that debt has doubled in just the last eight years. this is something that needs to
be addressed and i think there's really two ways to do it. you have to have economic growth and you have to be able to control your spending. if you can't control spending, and you don't have economic growth, you're never going to get out of this spiral that we're in right now. so it is important that we put policies in place that actually increase the economic activity in the united states. but in the last seven years, our economy has not tapped over 2%. significantly never hit 3% in the last eight years. we have got to have real economic growth to be able to get out of there. but the key is we can't have this wasteful spending. when i identify areas of icelandic cemetery studies, and we're dealing with tanzania and fish bones and their studies, and when you deal with the, as you mention before, should we study what 5-year-olds think about their food when someone sneezes on it. >> yes. >> when they serve them. all of us look at that as absurd and we ask the basic question what do we need to do to get our spending under control and the first thing is let's just have some common sense. >> yes. >> in what is spent.
>> but senator i mean given your laser focus on this what do you think of what donald trump has said about his spending, and the fact that when checked that the experts think that it will actually hike up the debt? >> we're going to have to see the actual proposal. i've seen what the campaign is. we'll see what the actual proposal is -- >> were you comfortable with what the campaign said. >> oh, no, again the campaign -- there wasn't a lot of details as you know full well. most of the details were we need to do infrastructure, we need to do spending, there's a tax proposal that's been put on the table. all the campaigns put out tax proposals. the senate and the house have tax proposals. i have to actually see what the legislation is and that will be the key at the end. whatever is put out there we cannot have a situation where we have declining economic growth and where we don't have real attention to our spending. those things have to be there in real poll sill conversations. >> how do you think president-elect plans to pay for his infrastructure plan? >> i've not seen. i've seen some proposals out there to deal with corporate tax. that's been floated out there,
and change the corporate tax internationally and allow them to be able to repatriot some of those dollars packed overseas. i would rather see that used for corporate tax reform and individual tax reform. that's a better way to be able to do that because we have a very convoluted system for taxes. >> yeah. >> we've got to be able to fix that long-term and i'd rather not see that be used for spending. that will be a lot of the argument that happens in the days ahead. >> senator james lankford thanks so much for being on "new day." >> sure, you bet. >> over to chris. >> all right. so, fidel castro is dead. so now what? we're going to take a look at what comes next.
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fidel castro dead at the age of 90. and his death leading to nine days of mourning in havana. but a very different picture in miami. cuban exiles are celebrating the death of the former dictator. this as the first commercial flight from the u.s. to havana took off just moments ago from miami. cnn's boris sanchez is live in little havana in miami for us. so, boris, can you tell us, can you somehow characterize the feeling there? >> alisyn, it is hard to believe that the people here in miami and the people here in cuba are reacting to the death of the same person. there are nine days of mourning in cuba. here so far there have been three days of partying. outside here on calle ocho the
heart of the cuban community in miami. the people here celebrating, waving flags, dancing, banging pots and pans. i asked are you at all weirded out by the fact that you're celebrating the death of a person? and people that i talked to again and again, even in my own family have said, we're not mourning the death of a person, we're celebrating the death of a monster. so, it gives you some perspective. a lot of hurt feelings here by exiles that have risked everything to leave cuba. risking their lives to get away from the system that castro created. we obviously heard statements from world leaders, the president putting out a statement offering condolences to the family of fidel castro and saying that history will end up judging his legacy. that was not received well here in the exile community. they were much more welcoming no donald trump's statement in which he called fidel castro a brutal dictator and alluded to the tragedies that cuban-americans have had to suffer, that wounds that may never heal.
another reaction was from florida senator marco rubio who said that the president's statement was pathetic. he also called fidel a tyrant. you can imagine that was much more well received here among this community. a lot of people that have suffered for many years, i can tell you that even in my own family, many people were waiting for this moment for as long as i can remember. chris and alisyn? >> there's a big question about what happens now. boris, thank you very much. fidel castro once called the family of our next two guests his most repulsive enemies. they're also his relatives. joining us now is florida congressman mario diaz-balart, former congressman lincoln diaz-balart. as context their aunt was castro's first wife before castro led the revolution in cuba. gentlemen, thank you for joining us this morning. let's start with the personal. congressman, what -- how does your family tell the story of its connection to castro?
>> look it's a story that's very well known. not only with our family, but with our community. and, my father was a brother-in-law of fidel castro, also that since he knew him well, became the first person to oppose fidel castro. and actually to state very clearly what would happen if castro got control of that island. that's precisely what happened. it's been 58 years of dictatorship, of pain, of murders, of narco terrorism, of terrorism. it has -- this man, this dictator, this tyrant, and this murderer has been a nightmare not only for the cuban people, but also for the national security interests of the united states. this is a person who has done everything possible to hurt united states and even ask for a first nuclear strike, a strike against the united states, to kill every american. he insisted that that was the right thing to do, so again, this is a person that anybody
who knows him, who knew him or who knows his history, must be very glad that he is no longer on this planet. >> lincoln, and yet when i called my cuban friends down in south florida, and in jersey, and elsewhere, you know, to kind of express condolences, congratulations, or whatever that there's some sense of closure, i got quick rebuff that, hey, raul is just as bad. this is not over. the regime is still in place. stop pretending that this is good news for the future. we just don't know. is that how you feel, lincoln? >> chris, it's important to realize that just like when trujillo or franco died it's not that democracy same the next day to those countries. however without those deaths democracy could not have come. now it's important that like in the case of spain or dominican republic or so many other long-standing dictatorships that the international community, led by the united states, and that's why we're so hopeful after the statement by the president-elect
and the vice president-elect, that the united states lead the international community to demand that the regime not be able to be a personal family farm, inheritable by, in this case, raul's children. the cuban people deserve freedom. and just like in the case of spain, and the other examples i've mentioned, it's important for the international community to demand freedom for the cuban people now after all these years, and especially after the personal tyrant has died. remember, yes, raul castro is his puppet. raul castro is in charge. has been for a few years. but the brain of evil, ever since as mario has just pointed out he called for a nuclear first strike against the united states in that famous now declassified letter to khrushchev during the missile crisis, where he said if the united states invades cuba, in other words to liberate the cuban people, it is necessary for the soviet union to launch a nuclear first strike on the united states.
>> right. so congressman what are your concerns going forward? your brother mentioned the president-elect. the idea of what will he do. you know the involvement of russia was a long time ago with the missiles but that was russia's hand there and all you have to do is go to the island and see the russian influence on that island still real. trump had sent out business consultants to try to see if his organization could put roots down there. are -- do you know which which president trump will go? >> -- vice president and his chief of staff. they've been very clear that they're going to reverse the unilateral concessions, the gifts, that president obama has given to the castro regime. by the way, it's not that the united states didn't get anything in return from the castro regime. president obama and his administration didn't even ask for anything in return. you can claim that president obama is a lot of things. but he is a very smart man. he's clearly not an idiot. he knows that what he has done is everything to consolidate the
castro regime, to help legitimize the castro regime, and president-elect trump, and all his vice president, mr. pence, have stated very clearly that they're going to eliminate all those concessions. they're going to demand freedom for the cuban people as a condition to lifting any sanctions -- >> that hasn't worked in the past though, congressman. how do you think -- do you think it's different this time just because fidel is gone lincoln? >> chris, chris, a lot of folks are -- there's been investment in cuba, and tourism in cuba, from most of the world, that hasn't gotten rid of castro. >> right. >> so, so here's a question, what should u.s. policy be? and we support what the president-elect has said, which is, until there's freedom for the cuban people, and until some very basic freedoms take place, freedom of the press, political party, labor unions, the freeing of all political prisoners and elections, until those conditions happen, there are no concessions, and president-elect trump has been very clear that he's going to enforce the law. that's the right thing to help the cuban people. it's the right thing for the united states national security. >> and chris you mentioned it
didn't work in the past. fidel castro was alive in the past. and the cuban people are unarmed. all the weapons are in the hands of the totalitarian dictatorship. now the opportunity exists, just like when franco died in spain or trudgeleo in the dominican republic for there to be an international effort that that not be an inheritable family farm. and free elections for the cuban people, the conditions in u.s. law, that are still there, by the way, flouted by president obama, ignored by president obama, the law, and nevertheless those conditions are still there. free elections, freedom of speech, and no political prisoners. and we have to ask, which of those three conditions do the cuban people not deserve? it's about time that the international community realize that cuba is in this hemisphere, it's on this planet, and those people deserve to be free just like any other people in the world, and especially in this
hemisphere that legally, in our american law since 1948, as a requirement of representative democracy is the only legitimate form of government in this hemisphere. >> lincoln, mario, thank you very much for representing your family and representing what you believe is the right path forward for the cuban people. appreciate it. >> thank you. >> alisyn? >> donald trump lighting up social media with twitter rants about the wisconsin recount. as well as falsely claiming that millions of people voted illegally. what's his evidence? we'll discuss.
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president-elect donald trump tweeting this weekend about the outcome of the election. he has a peculiar conclusion. mr. trump falsely claims that millions of people voted illegally, costing him the popular vote. there is no evidence of that. let's discuss with cnn's political commentator and vice chair of the new york state democratic party christine quinn, new york city councilman joseph verlely and cnn political commentator ana navarro. nice to see all of you.
joe, what are we supposed to make of the president-elect falling for false news reports, and fake tweets from random people? >> well, i don't know if he's falling for fake tweets from random news stories. the one thing that's been consistent is that the republican party has said that there is voter fraud, at times in this country -- >> millions of people -- >> no, no. how much, how often it happens -- >> -- point joe -- >> the notion the belief the republican party that there is voter fraud that exists in this country and the only thing that's changed is now some of the democrats are seeing the light, too. >> no, joe, that is -- >> is there generally ever and was there -- >> listen i have the answer to this, joe. we actually know the answer. we don't have to hypothesize about this -- >> the pew study. >> i can look at loyola spent 14 years looking at election results. they looked at 1 billion votes cast. they found 31 incidents of voter
fraud. there are scores of places that have looked into this. >> in this primary back in april there was four confirmed cases of voter fraud just in my county alone that were referred to the d.a. all of the studies you're talking about are people who are convicted -- >> sure. because once the d.a. looked into it they found out oh, there is -- >> these people -- on the intent of actually -- >> great that's fine. so there were four. does that up -- >> in one county. >> oh, come on. >> like i said -- >> i want an answer you think there were millions of people who voted illegally this time around? >> i don't believe so, no. >> what's the president-elect doing? >> again the party has been consistent that voter fraud exists in this country. the only thing that has changed since donald trump is a candidate, with donald trump being the president-elect is now the democrats believe that there's some irregularity -- >> we've never had -- >> why are we having a recount in wisconsin and pennsylvania -- >> we've never had a president-elect who -- >> democratic party --
>> so come on you're better than that. the recount is jill stein that's one thing. but your -- president-elect you supported tweeted, nobody manipulated his little fingers. god knows he can tweet away. he tweeted that he lost the popular vote because of voter fraud. that's it. he said it. he can't back away from it. but what i wonder is he tweeting these crazy things so he spent the morning talking about his crazy -- >> and there it is. i want to bring in ana on that because ana are we supposed to take him literally about these tweets? or are we supposed to ignore them, and move on to bigger issues? >> well, i don't know how you ignore his tweets. he is the president-elect, and last i checked, last night, he was at 13 back-to-back tweets about the recount and alleged inventive fabricated imaginary voter fraud. i guess on one hand you can say well this is actually good news.
he could have been tweeting against the castro kinky boots. instead he's -- tweeting against something that might have some relevance. i think what you're seeing here is very, very simple. okay. it bothered him that he lost the popular vote. it bothers him that he lost the popular vote by millions and millions of votes. and that it's an even growing margin. right now it's over 2 million votes. i think that hurts him. it gets under his skin. it makes him itch. and when donald trump has an itch, he scratches and scratches and scratches until it bleeds. and it makes all of our ears and eyes bleed. and that's what we are seeing. a man who is irritated that he -- that can't claim to have a mandate because he lost the popular vote. a man who is irritated that jill stein is doing this recount and hillary clinton has joined up. he is irritated. >> to the point there were 12 tweets. and reason why we're -- >> apparently 13. >> the reason why we're focused on the one -- >> you missed one. >> i just follow more closely.
the reason why we're focused on the one is because we don't want to talk about how the clinton campaign and so many people who supported her are now finding themselves in the height of hypocrisy because of the things she said about not accepting the election results. >> she didn't say she's not accepting the election results -- >> her lawyer is out there mark elias saying there's absolutely no evidence -- >> that's right. >> but we're still taking part in a recount. >> jill stein -- >> guess what -- >> of the election results -- >> is allowed -- >> there is -- >> that he wouldn't accept the election result. why would there -- >> you know one might have -- one might have thought when -- when though i did not think donald trump would win, one might have thought when you won, and he became president-elect, some of this absurd tweeting, and some of this constant deflection to other people, and to hillary clinton, and to barack obama would stop, and you would actually focus on the substance and the fact and the reality. but it hasn't. and that just -- i think
bolsters some of what i'm trying to say which is there is real issues. this tweet and others about the president-elect that we seem to skate over. his long, long list of potential conflicts of interest. his son meeting with russian officials. >> miss quinn -- >> if we could time machine back i bet if we googled christine quinn and ana navarro we would find sort of the same rhetoric questioning why donald trump would not accept the election result. >> hillary has accepted the election result. >> guys -- >> you don't understand the constitution -- >> i do know -- >> can i just say that this entire debate about whether hillary has accepted or not accepted, false. hillary is in the woods of chappaqua trying to find herself and trying to find peace. she is in the shopping mall, shopping market in chappaqua buying cheese for thanksgiving. this woman is not leading the charge for a recount effort. she has accepted this. jill stein raised $5 million, $6
million in a matter of two or three days because there's a lot of americans who are very unhappy with the election result, and if there could be a change they'd like it. is it going to happen? probably not. do not hold your breath, and -- >> and just to -- >> is hillary clinton doing this? this is a woman who is collecting mushrooms in the woods of chappaqua. get off her back! >> and just to put a finer point, the reason that jill stein and her supporters think that there might be some there there is because there was this discrepancy between paper ballots, and the electronic ballots and it was eyebrow raising enough that they thought let's look into it in these three battleground states. fine, that's allowed. that goes on. are we supposed to take mr. trump literally when he tweets? >> i think sometimes you can. sometimes you don't. but again, the american public votes -- >> how does that work? >> the american public voted -- >> how does that work did how do we -- how does that work? >> more willing to say what he's thinking at times --
>> but he doesn't mean it? he's -- >> people rejected the scripted candidate of hillary clinton and now we have donald trump. >> i think -- >> but people didn't like that he was unvarnished. how are we do know when -- >> can we make an emoji? this is the donald trump fact emoji. this is the donald trump scratching an itch till it bleeds emoji. i agree with you people like to be unscripted and that should be noted. people don't want to go did he blink once? did he pull his ear like carol burnett? we need to know when the president is telling the truth and when he's kind of making it up or pulling it out of his you know where. just give it to melania. it don't need to know. >> he used twitter more effectively than any presidential candidate in the history of running for president. >> sure and now he's president-elect. >> and you may not like the fact that so many people followed him but they did. >> ana? >> look, when do we take him literally? when do we not? i think out of the last 14
tweets there's one that you can take literally. the one where he said fidel is dead. it's probably the only fact he's ever tweeted in his life. >> are you sure that's true, ana? >> you know, i've been waiting for so long i want to see the body. >> exactly. >> there you go. >> all right. thank you very much. panel what's your take on all of these? tweet us @newday. >> all right it is cyber monday. so you know where the hot deals are. we got christine romans cutting through the clutter, finding the best bargains online. oh, look... ...another anti-wrinkle cream in no hurry to make anything happen. neutrogena® rapid wrinkle repair works... ...in one week. with the... fastest retinol formula available. it's clinically proven to work on fine lines and... ...even deep wrinkles. "one week? that definitely works!" rapid wrinkle repair. and for dark spots, rapid tone repair.
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some muslim women in america say that since the election, they dread what the future may hold. some of them are fearful for their safety and they're taking matters into their own hands. cnn kyung lah has that story from los angeles. >> reporter: in a crowd you don't notice marwa. >> i went from expecting to be the center of attention to nobody looking at me whatsoever. >> did you feel relief? >> yes. sense of relief. i didn't feel like a target anymore.
>> reporter: a visible target. a muslim woman, in a head scarf. since she was a senior in high school, she wore the traditional scarf whenever she was in public. part of her islamic faith, culture, and identity. >> we have to stop the muslims -- >> reporter: this presidential election, that changed. >> i was walking on the street, and a driver drove by me and slowed down and rolled down his window and he just spit at me. >> reporter: he spit at you? >> yeah. it was getting closer and closer to november 8th. that's when i decided that i just was going to take it off for awhile. >> reporter: since the election the southern poverty law center has tracked more than 700 hate incidents. muslim women say a year ago their sense of safety began to change, after this picture of san bernardino killer tashfeen malik went public. >> after that people started to see us differently. >> reporter: muslim women began taking self-defense classes driven by fear. now post-election sharing tips
on social media, and making a searing choice, their faith or personal safety. >> the head scarf has just become something that went from being a very spiritual element of a woman's life to being something where she has to be scared to wear it. i myself just didn't feel like i wanted to continue with that fear. >> reporter: the only places where she feels free to express that part of islam is in the privacy of her apartment, and her mosque. so the incoming trump administration, this young muslim woman has this message. >> when you hold that kind of position, and you think it is okay to make these racist, islamaphobic, sexist, statements there are people, unfortunately, as crazy as they are, who look up to you, and they will follow you, and they will act out in response to what you're saying. >> do you think you will wear it
again some day? >> yeah, i hope so. i don't -- i hope i can wear it one day again. i hope i can feel safe enough to do so. >> reporter: to practice one of the founding principles of america, freedom of religion. kyung lah, cnn, los angeles. >> maybe there will be a movement where people wear the head scarf in solidarity. you know, even if you're not muslim. maybe it's the way people shave their heads you know sometimes in solidarity with somebody who is going through something. maybe you'll see a wave of the opposite happening. >> i think self-defense train something good for everybody. >> yes i know you're a big proponent of that. >> i believe it. prepare yourself for whatever can come. all right so it is cyber monday. millions of shoppers are bypassing the brick and mortar stores and going online instead. cnn money chief business correspondent christine romans, a quick guide how to find the best deals. what do you got? >> all right. here's what i got. cyber monday the best deals are things that are rarely on sale. so don't be duped by door
busters and end caps of black friday. stay focused on the real digital deals. 122 million people are forecast to shop online today. that's according to the national retail federation, more than last year. about a quarter of those are going to shop on their phones and most shoppers will be getting up early. 39% will shop first thing in the morning. the results of black friday show consumers are being smart about what they buy. here's what they were buying. the most popular toys on black friday lego creator sets, electric scooters from razor, nerve guns and the barbie dream house makes another appearance. lap cops, tvs and some of the best deals right now. amazon offered 75,000 deals today, maybe on its own devices. the echo, fire tv, kindle all at least 20% off. walmart has discounts on tvs from samsung and vizio. hundreds of dollars off on each model and target is offering 15% off your entire order in-stores and online. keep in mind, retailers are hunting for you.
they are eager to sell you stuff you don't need. bowe hum bunk, every year i warn you. don't be paying this off in february. >> stick around. you want to talk about something else in your wheelhouse it's called the trump jump. if you tried to get a home mortgage you know what we're talking about. why did interest rates jump after trump's victory and what does this mean for the economy? we'll discuss that next. >> i know. this holiday, the real gift isn't what's inside the box... it's what's inside the person who opens it. give your loved ones ancestrydna, the simple dna test that can tell them where they came from -by revealing their ethnic mix. you'll save 30%-and they'll have a new story to tell. order now at ancestrydna.com. offer ends monday.
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all right. so here's what you have. the stock market is going up. but so are mortgage rates. what's going on? why do we have these two things going together? what does it mean about the influence of the trump election? a lot of people questions. we have answers. cnn money chief business correspondent christine romans, cnn global economic analyst, assistant managing editor for "time" and author of "makers and takers" rana faruhar. i don't get it the stock market is going up. but mortgage rates are going up. why do these go together? >> this is a real person effect of the election i think a lot of people are just starting to come to grips with. let's look at mortgage rates up 16% just in a couple weeks. this is the cost of borrowing. look at that, almost 4%. what does that mean in real
money? if you have a $250,000 loan right you just take it out 3.5% your monthny payment is going to be about $1123 a month. flash forward two weeks to the rates today 4.25% roughly. you're talking about more than $100 a month, $38,000 on the length of a loan. it's real money. so this means the cost to borrow money to buy a home and also some car loans we're starting to see as well s&l more expensive and that's because investors around the world think that donald trump is going to spend a lot of money in tax cuts and infrastructure and that's going to increase borrowing and when you increase borrowing at the government level that means interest rates start to rise. >> there's good news and bad news here, right? economic growth may be higher next year. there's an expectation that the infrastructure plan in particular could create some jobs and be good for the economy. the problem is, when you get growth you also get some inflation, right? and you get the dollar going up. u.s. exports become more ebs pensive abroad. that can be bad for companies. and it's a real seesaw --
>> chickens coming home to roost, right? you've had the government doing all of these weird things to keep rates low. they call it quantitative easing. >> yes. >> all these different phrases. >> easy money. >> and now there's been talk for awhile that that needs to be reversed. why? >> well you know, basically, central bankers have been running the economy for the last eight years. we've had all this easy money. $4 trillion has been dumped into the economy by the fed. this was a big issue in the election. most economists feel that you need the president, congress, to really stimulate the economy in the form of fiscal policy. tax cuts, infrastructure spending. that's what we're hearing. now the question is this going to be just a short-term sugar hit or is this really going to create some underlying growth for the next year and the jury is out. >> the argument for me is janet yellen and her colleagues at the fed saying we can't do this alone we have to you know actually coordinated policy in washington to get the economy. now, it is donald trump who is in critical of the fed who may -- >> what does this mean for
regular middle class or working class voters, people? >> so the growth of the country might do better. that's good for everybody, right, and for jobs. but it's harder to buy a house and harder to buy the things to put in your house. >> that's right. and -- >> more expensive to. >> that's right. more expensive. >> if you borrowed especially, if you see what happens with prices. we have to see if donald trump actually does things that make businesses make more of their products here so that they do their cost structure will go up, and what it costs them to make will go up and then they'll raise their prices. we have to see. >> right and will wages go up? it's possible that we could see jobs being created without a lot of wage inflation and if you don't have more money in your pocket, and your borrowing costs are increasing -- >> i was talking to ceos last week who were talking about infrastructure bill say they look we don't have the workers to do this. donald trump may think there's millions of people out there looking for work but they're worried ceos are worried about finding workers to do some of these infrastructure bills and i said you're going to have to raise wages and they said obviously we're going to have to
pay up for any kind of talent that we want which would suggest higher wages are coming which hopefully would offset the higher cost of buying a home. i've been watching for some time to see if first time home buyers are going to get on the housing gains in the housing market recovery first time home biers have not been the big players. people paying with cash. >> so even though interest rates were low, first time buyers couldn't -- >> they weren't. they were still tight lending standards or just didn't have the financial ability yet more recently i've seen first time home buyers now about a third of all home sales, and that makes me happy again. so you worry about stamping that down just as first time home buyers coming in. >> it also tells a story that you know people don't pay enough attention, which is a difference between what's good for wall street and what's good for main street. >> absolutely. >> oh, these companies are going to start making more money, that's great stocks go up but that doesn't mean it's good for you. >> right. and >> -- good for savers though. people on a fixed income, elderly people for a long time have had no returns on their
savings, if interest rates start to rise that finally helps the savers again so that is something we need. i think the idea of an infrastructure program is a good thing for the country. i mean most people on the right and the left would agree with that. tax cuts i'm not so sure about. i mean if you look at the last 20 years, big tax cuts have actually not created a lot of -- >> everybody wants their taxes cut though. polite kay it sounds good. >> i know. >> sure it's great to have infrastructure. there are things that are crumbling. that could use a face-lift. but we just had senator lankford on to say there are all sorts of republicans who have fought any stimulus spending, any more spending so we don't know how the numbers he's giving out -- >> rounding errors on rounding errors. you look at how we saw waste fraud and abuse, it's so easy to say we're going to get rid of waste, fraud and abuse. >> separate and apart from that the terms of the spending war the jury is out on whether there's an appetite for that. >> we have to fund the right stuff. that's a big deal.
>> exactly. >> we have to make sure -- >> that's why that pink book exists because what rana's question is funding the right stuff often winds up being the right stuff for that person in their own business. >> exactly. >> but the head line is you're going to start to see more and more dissociation between these indexes, you know, like the wall street -- >> yeah. >> stock market. >> and -- >> totally right. borrowing rates because the government's been dumping money into the economy for a long time and everybody knew the day was going to come. >> thank you. >> what do you say a little good stuff on a monday? we have a great one. stay with us for it.
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all right you ready for good good stuff? meet jeff guston. his mission is to help our nation's heroes. jeff along with a ton of his buddies, build home for veterans who need a temporary place to live. that's what you're seeing right now. yes, it's too small for a regular house. but it's enough for a quick fix. >> for me to be able to give back to those men and women who secured my freedoms, that is the whole reason that everybody that's involved with this project does it. >> all volunteers. you know, whether it's supplies for labor, called the veteran's outreach of wisconsin. they're building 15 of these little tiny homes. but the theory is, once they get the individual units together they're going to put a community center that they're rehabbing
right now that they picked up from the municipality to service all the larger needs of that community. awesome, right? you want to help? you can. jeff says they're accepting donations, cash, furniture, food, if you want to see what you can do you can head to their facebook page. veterans outreach for wisconsin. >> fantastic. thank you for that good stuff. time now for "newsroom" with carol costello. good morning. >> good morning. that was good stuff. thanks so much. "newsroom" starts now. and good morning, i'm carol costello. thank you so much for joining me. donald trump lashes out slamming the recount push in three states. and at the same time, falsely claims millions voted illegally in elections he won. confused? well here's his tweet. quote, in addition to winning the electoral college in a slandslide i won the popular vote if you deduct the millions of people who voted illegally. there's absolutely no evidence to support that. right now, hillary clinton is leading the popular vote by nearly 2 million votes.