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tv   After the Bell  FOX Business  June 7, 2016 4:00pm-5:01pm EDT

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is not detrimental price to the markets. we'll see upward revisions from the oil companies. liz: ross gerber, from gerber kawasaki. we're kind of close to the session lows for the dow. closing up at least for the moment by 22 points. we had been up from the lows by about 15. not a bad day for the bulls. david and medical list pick it up here for "after the bell." melissa: stocks ending the day mixed but the dow did see 18,000 although it couldn't hold it which says a lot. s&p climbing closer to all-time high. david: i'm melissa francis. david: i'm david asman. this is "after the bell." here what we have at this hour. we're hours from results that will have major impact on the democratic presidency. after tonight we may see the first presidential presumptive nominee in history.
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we have new shocking details on the size and the scope of the lists that were used by the irs to go after conservative groups. wait until you see who else was targeted. melissa: back to the markets, the dow hitting 18,000 today, but not enough momentum to finish there. phil flynn, price futures group is a fox business contributor. he is watching action on oil and gold from the cme. lori rothman on the floor of the new york stock exchange. lori, we couldn't hang on to it. what was driving it and why couldn't we hold it? reporter: health care was the drag. crude oil settled above 50 bucks a barrel today. as far as the dow hitting 18,000 but paring those gains, s&p 500 closing still at the best level since last summer basically. energy, telecom, industrials are among the best performing industries but health care sold off, especially late in the session. that started by valeant once again, the usual suspect.
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valeant touching a new low today basically slashing guidance. new york-based investor slashed its stake in valeant by half. that hurt as well. valeant shares are off 76%. it is off today by 14 1/2%. ralph lauren, luxury fashion retailer, plans to cut jobs, close stores, a plan to lower costs. investors not too impressed as you see by the performance there. down 2 and 1/3 percent. david: lori, thank you very much. phil, oil back above 50 bucks a barrel. how high do traders think it will go? into. >> first time this year, believe it or not, dave some traders think it could go higher, myself included. we got a lot of news about oil prices today. believe it or not the u.s. energy information talked about u.s. production. they say, guess what, guys? it will continue to fall at least through 2017. that comes at a time when global demand is blowing away expectations. when you think about china,
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think about india. india is the new china when it comes to energy demand. the information information administration said demand growth is strongest they have since they began keeping records back in the 1980s. if you remember what happened 15 years ago, nobody was underestimating demand in china. they exceeded that. that is happening in india right now. really the set-up is strong. a lot of geopolitical risk around the globe. you have continuing concerns. we did hear reports that some canadian oil sands have restarted a little bit. that is good news. because the pipeline moves so slowly it will take weeks before the oil hits the u.s. so that means u.s. inventories will continue to be tight, while demand continues to be strong. today the gold didn't really do too much. we're down a little bit. could have maintained momentum as dollar was just a little bit weaker. keep an eye on the dollar and gold.
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that is one traders keep an eye on. david: oil, what a jump. melissa and i were remarking, 93% off its low. somebody made a bundle on the price of oil going up. melissa. melissa: market hitting key levels even after the worst jobs report in five years. we have john pet treats, jared levy, chief options strategist. thanks to both of you for joining us. john, let me start with you, once again we hit the 18,000 mark. we can't hang on to it. what does it tell but the market? >> the bigger picture off the february 11 bottom stocks continue to rise higher. stocks remain the best house on the worst block. with the fed stepping to the side you're not getting any yield in bonds and not earning anything on your cash. investors are going to stocks because they have nowhere else to go. melissa: jared, i understand that, i definitely take those points but only problem is, a lot of people making much of the
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fact anytime we break through 18,000, we can't sustain it, we can't go higher and we can't make new highs. >> john has a point in that money is being driven to the equity market but now you start to sort of look at the landscape and realize our trailing price to earnings multiple in zap is high as it has been since the great recession. stocks are extremely expensive. we're in earnings recession. look at volume in the spy, which is the s&p etf. it is dwindling off. as we go into june 15th i think the fed is at bind, a german term -- melissa: what was that? was that a curse word? what was that? >> it's a, it's a term in chess, basically means the fed has to make a move but either move is going to be wrong. what i mean by that -- melissa: go ahead, finish. i think i know what you mean, but let's hear it. >> so that, if they, probably
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not going to raise rates but when they deliver their commentary they will have to make an excuse why they didn't raise rates. in my mind that will trigger a bearish selloff. if on the other hand hey, things are looking good and maybe to july, we see more increase of probability of rates going up, that also is a bearish effect. melissa: yeah. >> i'm bearish going into the d meetings on the 15th. david: all right, guys, let's go to verizon. could be one step closer to buying out yahoo! "wall street journal" reporting that verizon is offering $3 billion for yahoo!'s core internet business in second round of bidding. the bidding is on the lower end of the range, sending shares of the embattled internet company to the lower end of the range. if the deal goes through, what is left of yahoo other than shares of alibaba? >> that is right, there is scraps of yahoo!, verizon will begin generation of from stodgy
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company, aol and yahoo!, now they have the end to end environment for the consumer -- david: jared, the value of yahoo!'s internet properties, the ad sales are way down. how can verizon bring them up again? >> they're way down but i still think yahoo! is getting like 100 million unique clicks per month and, like john was saying, that puts eyeballs on verizon's content. remember verizon just started sort of producing their own content to compete with amazon. this could be a way to get eyeballs and get people integrated into their system. at three billion, yahoo! paid 1.1 billion for tumblr not too long ago. it could be a good deal. i'm still shaky on it. melissa: meanwhile american airlines frequent flyer overhaul could leave flyers peeved but investors. this awards miles based on amount of money spent instead of miles flown. john, it is sort of defeats the
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purpose of a reward program because you have to spend more in order to get the miles but if you have money to spend you could care less about the miles sort of, more or less. is this good or bad? >> i think it is more symbolic what the airline industry is doing and how they have evolved perennially boeing out of business maybe 10 or 15 years ago and now trying to start a higher margin way to get the consumers to buy up and price to get more reward points. melissa: yeah. jared, i mean it seems like i never get on a flight that isn't totally packed. the airport is packed. everything is jammed to the gills. why do they even have rewards. raise prices, thin out crowds if you want own more planes? >> or pick who you want on planes. this is clear signal american doesn't want leisure travelsers. go to spirit or southwest. big corporate travelers, come here to american. pay expensive fees. we love you. and they have this little cachet, i'm a frequent flyer. i fly american regularly but there is certain cachet when you
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walk up to american flight when you walk on to a spirit flight. that divide by this happening is many abouting even broader. so again i think they're picking their customer. melissa: which is a good thing, right, john? the business traveler, they're the ones, they're not paying the bill, the company is, they're ones happy for the most part. they want the flight when they want it. time is more important. they're less price sensitive. that is the traveler you want. >> again, just goes to show you that the airline industry will consolidate to maybe seven players. they're all playing nice in the sandbox. they're not beating each other up over pricing and having creative ways to hold pricing higher. this is interesting way how the industry evolved. melissa: gentlemen, thank you. >> thanks. david: isis defectors are now asking western countries for help. sounds incredible. we'll tell you what is going on there. melissa: obamacare for illegal immigrants, president obama said this would never happen but it just might in one state thanks to loophole in the system. david: it is against the law. the law says you can't do it but they're doing it.
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meanwhile hillary clinton may have secured all the delegates she needs to be the democratic nominee but bernie is not giving up without a fight. the news is crucially rallying cry for sanders supporters. former republican candidate mike huckabee weighing in on the democratic mess coming up. >> if we can't win here in california, win in south dakota, north dakota, montana, new mexico, do well in new jersey, we're going to go into that convention with enormous momentum! [cheering] poor mouth breather.
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melissa: making their voices heard. from sea to shining sea.
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biggest price the golden state of california. intense final day of campaigning for hillary clinton and bernie sanders as they fight for 475 delegates in california. fox business's blake burman in brooklyn, new york,. what a day, blake. >> hi, there, melissa. i bet you it is probably 75 and sunny in california too. doesn't look too bad where you are across the river in new york, raining here in brooklyn. nonetheless this is where hillary clinton will be having what is anticipated to be a victory party later tonight, just down the street from me at the navy yard here. her campaign has been cautious and very careful today, not necessarily declare victory just yet with six states and millions of people voting across the country after the associated press last night, reach the out to couple dozen superdelegates which got clinton to the magic number of 2383 delegates she will need to be presumptive democratic nominee for president which the associated press is labeling her at this point,
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clinton celebration to come later tonight. her schedule though, kind of gives a little bit, a little bit of a look ahead at how the campaign might operate. later this week, at least in terms of the general election, because later this week, clinton gives a speech in washington, d.c. the week after that, she will be campaigning in pennsylvania and in ohio, to two battleground states ever so important for both her and donald trump, in the upcoming general election. speaking of california, the top democrat in that state, possibly, nancy pelosi, house minority leader, finally weighed in today, and gave her endorsement to clinton and not to bernie sanders. sanders has been basically camping out in that state for the last two weeks or so, leading up to the election there and his campaign said today, that no matter what happens tonight in california, and in the five states, the senator will be flying back home to his home state of vermont later tonight. and then after that, he will be campaigning in washington, d.c. which there is a primary next
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week. the point being they say there is zero percent chance, that is the way one strategist put it today, that sanders will be dropping out. they say at this point he intends to go forward no matter what happens tonight. should point out, i will leave with you this, president obama will be here in the new york area tomorrow doing some events for democrats. hillary clinton will be here as well, but at this point there are no scheduled meetings, publicly at least between the two. back to you. melissa: lots there, blake. thank you. david? david: sure is. look at one part of that. bernie sanders facing elimination tonight. the vermont senator pledging to stick in the race. we have neil from democracy of america, he is sanders supporter. julie roginsky, democratic strategist, fox news contributor, she supports hillary clinton. let's have a little bit of negotiation. neil, starting with you, what does bernie wants? >> i think what bernie wants to make sure every voice is heard in this process and we continue
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going until the very end. david: be specific though. be very specific. does he want a part, piece of the party platform? does he want endorsement of a wholesale hillary cair as opposed to obamacare? specifically what does he want? >> i think there will be a lot of things we can talk about going into the convention from making sure we fight for $15 minimum wage rather than $12 minimum wage or important process changes how we do democratic fights in the future. david: julie, what will hillary be willing to give bernie to get him out of the way now? >> not what hillary will give bernie, that bernie sanders is true to his word that his priority is defeat donald trump. senator sanders knows, the rest of us certainly do, the longer this drags on and internal warfare in the democratic party, longer it takes to go after donald trump. david: isn't it worth hillary's time and energy and political capital to give something to bernie to get him out of the way? >> question what does bernie
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sanders wants. i understand the desire to have every vote count and i understand senator sanders desire to make sure new jersey and california vote today, after the polls close in garden state 8:00 eastern, hillary clinton will have requisite delegates -- david: i know. from what you're saying nothing is the answer. nothing hillary needs to give to bernie. >> i'm not negotiating on behalf of the clinton campaign. so not for me to say. david: it is for you to say. you're a fox news contributor. >> in that case, go ahead. i'll tell you. david: there has to be something too get bernie out of the way? >> give him part of the platform. >> the most dangerous thing democrats can do to force bernie sanders out of race before his supporters make sure all their voices are heard across the country and actually participate in the process. david: you mentioned the word dangerous. julie, there is danger here that philadelphia become as riot in the streets. we already have a
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"new york times" reporter getting death threats called against her. she is win of those who said hillary was the presumptive nominee. it is getting dangerous and getting violent. >> it is not. david: excuse me, you say no it is not, neil. this is the "new york times" writer. i won't be answering calls today after the third call from a bernie supporter telling me they would hunt me down in the streets. >> [laughter] david: you're laughing that is death threat. >> that is not truth. david: that is a death threat the, nothing to laugh at. >> you have a few nuts, trying to brand a movement of 13 million votes. david: i don't know, julie, that is a death threat. i would not laugh at death threat, would you. >> i think it is ridiculous. david: a death threat is not ridiculous. you have to take them seriously, my friend. >> amy chose second is great reporter. anybody who attacks her should stop. i will not tarnish the sanders campaign. there are nuts in every campaign. certainly trump supporters -- david: it is getting hot. >> it is getting hot. the party needs to unify and what it needs to accomplish.
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it needs to win the white house. senator sanders understands there must be no pathway. he has to get behind the democratic nominee the way republican get behind trump. david: we have the coverage, 7:00, 8:00, up to 1:00 a.m. whenever california is resolved. good to he sue both. melissa: from party of reagan to the party of trump, coming out the presumptive nominee, believing that the gipper would not approve. state of emergency in florida. heavy rain soaking the sunshine state. >> all the guy going along and he hit a wave and actually kind of flipped almost backwards off the jet-ski. and never saw him come up. when a moment turns romantic why pause to take a pill?
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david: massive rainfall in florida and southern georgia. winds reaching 50 miles an hour,
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expected to strengthen slowly next couple days. phil keating on the ground in clearwater, florida. phil, residents where you are had to evacuate completely? >> yes, classic impact rule of hurricane season. all about location and where you live. you may only get one inch of rain in your neighborhood but across the state they got 10-inches of rain. here at the trailer park known as mariner's cove, they got evacuated. this is currently empty. there is no power here. as you can see, it remains underwater and under that mandatory evacuation. the rains here started earlier in the morning. lasted all day, into the night, even into this morning, now just a miserable experience for the 30 families who still don't know when they can return. fast-moving tropical storm colin went through jacksonville, florida, with more rains and winds. possible tornado or just strong sheer force winds ripped off a few rooftops and toppled plenty ever trees. overall according to the state's emergency operations center, no
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significant damage, just pockets and isolated pockets of flash flooding and damage. total florida residents woke up today without power, just about 10,000 out of 20 million people, that was pretty minimal. officially the governor's state of emergency remains in place and about 6,000 national guardsmen and women remain on standby to be deployed if need be. but as you can see, it is hot, humid, the sun is out. however there is still 24 counties in florida with a flooding watch through the night. david? david: been moving north. how are the carolinas faring? >> the carolinas are definitely faring a whole lot better than this neighborhood and or a lost parts of florida. all of the people along the coastlines of florida, georgia, south carolina, north carolina, can thank the fact this disorganized tropical storm colin from the beginning when it made landfall, there was really no rain on the western side of this storm. it is all on the east side of
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the center. so from the southern states, most of the rain stayed off out on atlantic ocean. still the coastal communities along the carolinas in georgia and few inches of rain and national hurricane center expects they get, one, two, maybe three more inches of rain throughout tonight. florida also could receive two more inches of rain tonight. families that live here, they're just looking for a place to stay now. david: thank you, phil, in hot, now sunny florida. appreciate you. melissa? melissa: move over sharapova. serena williams taken over top spot as highest female athlete in the year. the tennis star raked in $29 million the past 12 months, not bad. maria sharapova losing title she remained 11 years after failed drug test in australian open in january benched her from professional competition. i didn't realize she was the highest paid athlete for that long. david: that is interesting. not necessarily the best but highest paid. the irs admitting to
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targeting more than 400 groups. the hit list could be longer that than that. melissa: sanders still holding out hope for a big win in california. former governor mike huckabee weighs in on the democratic fight to the finish. >> it is democratic national committee that says do not lump together pledged delegates, real delegates, with superdelegates. ♪ i have asthma... on my long-term control medicine.
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david: take another look, very interesting day in the dow. lot of action. look at that drop at the end of the day, crossed back above 18,000 for the first time since april, but couldn't stay there. dropping in the final hour to end the day nearly flat. we will see what happens tomorrow, melissa? melissa: all eyes on california and the associated press reporting hillary clinton made history by clinching the delegates needed for the nomination where bernie sanders is not backing down. the vermont senator is focused on persuading super delegates to change allegiance with the golden state win. here now is former arkansas governor, mike huckabee, former presidential candidate and fox news contributor. i wanted to ask you about this, governor, because you know, from the side lines, sxoshlgs as a part of the media, entertaining to watch bernie hang in there and fight for it. on the other hand, you know, he doesn't have the delegates to win, it doesn't see. i don't know how he turns them at this point, and some would say that it's unfair.
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as somebody who's been in the ring, what do you think about what he's doing? >> i never think that it's appropriate for people who didn't support a candidate to be the ones to think they're the ones to usher the candidate out of the race. if bernie supporters wanted to stay in, he should stay in. it's not a matter of all the party big shots saying you can't stay in. of course, he can. he's got supporters out there. frankly, same thing with republicans. throughout the process when people were saying marco needs to get out, kasich needs to get out, cruz needs to get out. they need to get when somebody wins or clinches it or decides that it's no longer feasible to keep going, but i don't think anybody has doubted the outcome. my gosh, this was as predictable as the end of a perry mason tv drama. we knew hillary was going to win. it was just a matter of how it was going to play out. and the reason she's going to win had nothing to do with passion. it had to do with the way the
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party of the democrats is structured, and i'm telling you, a lot of people who are supporting sanders, they're feeling the bern, and it's not a good bern they're feeling today. melissa: it's like watching "gilligan's island," we know they're not getting off the island because the show would be over. we know hillary is going to win, she's had it in since the beginning, and there's the show. i like your analogy. so what does it is a -- is he hurting her, do you think? if it's -- in one hand, it can help her garner sympathy because it's the same thing where you're saying he's in there sort of fighting against her, even though he can't win, poor hillary. is there any way it helps her? >> i don't know that it helps her because it continues to leave the open sore in the democratic party. you know, as a republican and now a donald trump supporter, do you think it hurts her, i would answer, gosh, i hope so. but i think that they were
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going to have a tough time pulling their party back together, but here's one of the reasons bernie may be staying in. it's still not settled whether hillary will remain an unindicted co-conspirator on her e-mail issue, and he may be hanging in there so he's the last man standing. melissa: absolutely. what does it is a about her that she obviously couldn't put away president obama. she had struggled to put away bernie sanders an avowed socialist. what does it is a about her chances in the general that she seems to have trouble closing. >> she has trouble exciting the democrats. if you look at her rallies, it's more like a wake than it is some kind of pep rally, and you know, they'll have people come out and try to give them rah-rah, and it's almost like a weekend, no pun intended, weekend at bernie's, propping up dead people, trying to make them animated when they're all dead. they're dutifully going with hillary, but i don't see the passion.
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i don't see the energy, and that excitement. i see it for bernie, that's a problem for hillary. melissa: we did every entertainment analogy we could, governor. thanks for coming on. david: you didn't get the dick van dyke supporter in there. . melissa: good one. david: house speaker paul ryan is making a backhand endorsement of donald trump today. take a listen. >> do i believe that hillary clinton is going to be the answer to solving these problems? i do not. i believe that we have more common ground on the policy issues of the day, and we have more likelihood of getting policies enacted with him than we do with her. david: him rather than her. so is ryan damning trump with faint praise? here is hadley heath manning of the independent women's forum and rich lowry, editor of "national review." hadley, ryan in his defense, is trying to walk a very thin line between getting the gop behind trump and condemning at the same time trump's outrageous statements.
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can he thread that needle to mix metaphors here? >> let's hope so because so far this election cycle has been a lot about personality, and not enough about policy. paul ryan, speaker of the house, really wants to unite the republican party around the policy agenda, that's his number one concern, and that's the reason why he believes ultimately he's closer to trump than clinton. he believes the party can get more done in terms of his policy agenda if trump is the next president. david: that's it. he's forgetting policy changes and so does mitch mcconnell. rich, both mitch mcconnell and paul ryan are using the lesser of the two evils defense of donald trump. you're still not buying, why not? >> i'm not. we're going to wait and see, let the campaign run some more and make our final judgment. david: ruled out entirely the possibility of voting for trump. >> we never officially said never trump. on ryan and walking this line, he's not walking it successfully, a hard line to walk. david: it is.
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>> all the trump supporters, given what he said that trump's comment is racist. why is he stabbing our man in the back in and you have the folks in the media saying wait a minute, why is he saying the candidate is saying racist things but he's going to vote for him? does that make sense? awkward position that's going to be there for months to come. david: as i said in the beginning, hadley, awkward position, especially when you have things like rich was talking about. you have michael reagan saying his father never would have voted for trump. i remember the 11th amendment. i'm sure do you as well. ronald reagan's 11th amendment, thou shall not attack a fellow republicans and republicans before have never voted in the numbers they have to endorse donald trump. wouldn't have reagan respected the voters here? >> interesting. i don't know if reagan would say never attack another republican or today he would say never attack a fellow conservative because trump has never claimed the mantle of reagan's legacy.
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never attempted to paint himself as the most conservative republican in the race, and there are a lot of differences between himself and paul ryan, conservative republicans. so it's a matter of do we attack this person as a personality, or do we focus on the policy issues where we can find common ground, and i think that's ultimately what ryan wants to do. michael reagan coming out and saying he won't support trump in the california primary. the question is does it matter? will it matter to trump supporters of those who are opposed to trump how the reagan legacy plays into it. david: very last word from rich. if ronald reagan, not to defy ronald reagan, he was a gop loyalist to the nth degree, do you think he would have respected the voters in the primary season here? >> it's true donald trump's republicanism is not reagan conservatism by a long shot. david: sure, but would reagan have respected the voters in the primary? >> if reagan were an active politician today thinking of running for president in 2020,
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like a lot of the guys are assuming trump doesn't win, reagan would be where the rest of them are. david: rich, hadley, thank you very much. melissa? melissa: the irs admitting to targeting conservative groups but it could still be withholding information on just how far it went. the plaintiffs in the lawsuit against the irs claiming the agency scrutinized more than 426 groups initially released. adam shapiro has the details on this one. adam? >> reporter: melissa, important to remember the key question in all of this has yet to be answered. why the irs actually put these groups filing for tax-exempt status on the list which wound up delaying their applications and what do the groups have in common? take one guess. former irs director of exempt organizations lois lerner, she testified before congress at the irs did indeed target conservative groups, groups that had words like tea party, patriot, and liberty in their names for inclusion on this list. many of those groups are part of the class-action lawsuit
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against the irs. now, the irs recently disclosed it placed a total of about 426 groups on the so-called hit list prior to the 2012 presidential election. most of them were conservative groups. the key here is if you had tea party in your name. 60 did. patriot, 33 did. constitution, 8 did. in your name, you're on the list. roughly 29% of the 426 groups were conservative. that's misleading, however, far greater. there were liberal groups on the list as well. opponents of the irs called the list bogus and fabricated claiming the irs added the liberal political grou list to make it look as if nothing sinister happened and added them after all the investigations began. lawyers suing the irs have documents which show the original irs hit list target conservative and only conservative groups, and the liberal groups are added after the treasury department started
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investigating the irs. i did get a statement from the irs, they basically say there were 426 principal class members in the lawsuit, the 426 represent a list of entities, that met the definition of principal class in the court's january 19th order. can someone please define what they're talking about and answer the question asked in english? back to you. melissa: adam, thank you so much. great reporting. david: janet and the irs, janet yellen and the irs, incomprehensible. why isis defectors are actually asking us western governments for help? plus terrorism in turkey after a car bomb leaves 11 people dead. who officials actually think the terrorists were targeting? coming next.
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. david: a deadly blast targeting a police van in istanbul,
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turkey, killing at least 11 people. nobody has yet claimed responsibility for the attack, but turkish officials have apprehended and begun it question four individuals in connection with the bombing. captain chuck nash joining us with his take on the attack. captain nash is it isis or the kurds or who? >> they don't know. isis has been responsible for several bombings that happened in turkey recently. as is a new group, tak, the kurdistan falcons, a splitoff of the workers party, the pkk which has been a thorn in the side of the turks for a long time. so they don't know, nobody has claimed credit, they'll have to see. both have done it in the past. david: all right, let's focus on isis and our war with isis. isis itself is in the midst of a purge, they're purging members who they think were giving information to us and our allies on where to target certain leaders of isis. isis has been killing dozens of
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their own people who they say were informing. this seems to me to be an indication they are self-destructing to a certain extent. am i wrong? >> no, you're not wrong. i wouldn't say the wheels are coming off of isis right now, but i would say that a couple are wobbling, and as you point out, they took some of their people, tied them up together, lashed them together in a rope and then lowered them into an industrial vat of nitric acid slowly because they thought they were spies. they've got other people leaving, trying to escape. some made it successfully out of northern syria into turkey where they're applying to get back to home countries. david: they also approached us, a lot of the idiots who went over to isis thinking it would be all, you know, milk and honey, realized it was a terror group and they were just in the middle of self-destruction, they want to get out, and they have contacted us to help get them out should.
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we help them or should we not trust them? >> well, the first place they would take them is guantanamo bay, cuba, because the last thing you want to do, david, these are people who joined this organization after the videos of cutting off heads and setting people on fire. these are very sick puppies, and to think that you can bring them back and reintegrate them into society when they joined an organization that did that, these people are psychotics, don't belong around civilization, they need to be debriefed from an intelligence standpoint so we can suck their brains dry on what they know about isis. other than that, they should never see the light of day, they should be charged with material support of terrorist organization and thrown in jail. david: i'll take that as a no, captain nash. >> a strong no. david: good to see you, captain chuck nash, appreciate it. melissa: obamacare's broken promises. how illegal immigrants are set to benefit from the health care law. >> if you like your doctor, you
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bring out the bold™ . david: melissa, we made it! after four long months, we have finally reached the last big night of primaries. voting for the democratic party nominee is now under way in six states all over the country with nearly 700 pledge delegates on the line. it's possible for bernie sanders to give hillary clinton a run for her money all the way to the convention, especially in california, that's of course, the big one, home to the majority of tonight's delegates, and where hillary clinton and sanders have been running neck-and-neck. stay tuned to fox business. live coverage, also analysis of the primaries at 7:00 p.m.
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eastern. i'll be here with a host of other people. you don't want to miss, it melissa. melissa: the affordable care act might be adding another check to list of false promises. listen. >> we can do what i pledged to do as a candidate, and save a typical family an average of $2500 on their health care costs in the coming years. if you like your doctor, you will be able to keep your doctor, period. the reforms i'm proposing would not apply to those who are here illegally. melissa: the last one is what we're talking about. california lawmakers are trying to extend obamacare to illegal aliens in the golden state, testing a loophole in the law. here is dan heninger "wall street journal" deputy editorial editor, and julie roginsky is back with us as well. this is one of the arguments that went on during the debate of obamacare and people say illegal immigrants are going to get it, no, you're not reading
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it properly. i'm wondering, dan, how this becomes legal? how it shakes out? if they're joining the roles of those buying insurance and paying in, that's one thing, if they can get the subsidy and joining the rolls of the people who are using a lot and not paying a lot, it's problematic to the system? >> very problematic to the system. the chance of this becoming law are basically zero. the loophole is a waiver, the waiver says that you can do this as a state, if the federal government does not have to pay for it, meaning in this case california has to pay for it. there is no chance that governor jerry brown is going to sign a law it's going to burden california with new medical costs going forward, he's responsible for restoring he says, fiscal sanity to california. if there's a downturn, this would be a dead weight on california's budget. melissa: july, i think about it
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from when it started, if you have illegal immigrants living in california walking into emergency rooms, and getting care, there is a cost to that. they're not paying that bill. it is being borne by the hospital. >> by us. melissa: by the taxpayers or whatever. so if this is people buying insurance with their money and using it properly, it could be a savings to the system, but i fear it's people getting the subs subsidy and using a lot of health care and the government paying. >> you're right. look at this as a math equation, jerry brown might support it if it makes mathematical sense. if it's about a $2400 surcharge for every time somebody goes to the emergency room and doesn't pay, it gets funded through charity care which the state government has to support. hospitals are going under because of charity care, and so as a result, if that ends up costing the state of california less money to insure whatever
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the x number of people living there illegally is, and that number is less than it is to give charity care to hospitals to support these people, and the other surge charge is taxpayers californians need to pay, it might make sense. >> i don't think it's medicaid. talking about putting them on the obamacare exchanges, and most of the insurers put in requests for premium increases in the u.s. they're up double digits, and covered california put in a request that's about 8%. so they get onto the exchanges, it's going to be very expensive for illegal immigrants to afford it. melissa: that's why i raise the question, i do a ton of reporting. people want to raise the prices, you know, because they've lost so much money, the prices are going up for people that are actually paying. they're not going up for the people that are getting the government subsidy. that's why it matters to talk about which group they're in. there's also the optics of this, julie, yet another promise, showed the clips at the beginning, yet another
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thing the president said would not happen and then it happens? >> no question. the question to me is what are the penalties if you don't have insurance, right? for the rest of us, if you don't have insurance, there's a penalty that you have to pay if you're an illegal immigrant, how do you pay the penalty? do you have a social security? do you file taxes? all these are questions i'm curious people in the california legislature thought through there is a penalty phase for people here illegally. melissa: we've got to go. thanks, guys, david. david: julie, come on. at burger king they say you can have it your way, even if it means this. details of another menu item. i use that word sparingly, lighting up the internet.
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i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating what's within me
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with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin. trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes. it should be used along with diet and exercise. trulicity is not recommended as the first medicine to treat diabetes and should not be used by people with severe stomach or intestinal problems or people with type i diabetes or diabetic ketoacidosis. trulicity is not insulin and has not been studied with long-acting insulin. do not take trulicity if you or anyone in your family has had medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2 or if you are allergic to trulicity or its ingredients. stop using trulicity and call your doctor right away if you have symptoms of an allergic reaction, such as itching, rash, or difficulty breathing;
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the burger ingredients inside a tortilla. melissa: i am so embarrassed for you, david. the picture of the new item going viral on social media. here's what you told me -- come on! it looks fantastic! >> i don't think so. "risk & reward" starts now. >> secretary clinton will not have the requisite number of pledge delegates to win the democratic nomination. she will be dependent on super delegates. they vote in july 25th. deirdre: california is about the future. california is going to help us make the future that we want for every person in this country. and we're going to come out of primary even stronger to take

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