tv Cavuto Coast to Coast FOX Business November 11, 2016 12:00pm-2:01pm EST
being with you two gentlemen. a treat and honor. stuart: well-said, elizabeth mary regina. so grad you're with us throughout this week. it was a privilege. it really was. thanks for joining us throughout this wonderful time. neil cavuto. it is yours. neil: stuart, thank you very much. we're following impact an implications of this week, already how a lot of folks look ahead to the first 100 days of a trump administration. this is the week we sort of had to get our hands around that, a trump administration. that is in the offing. what will those first 100 days look like? and what are we learning what will be the priorities of team trump? we're getting some ideas you now from steve coughlin, a list on trump insider, looking what they're looking at. steve, what can you tell us? i know you don't want to give away everything here. first off congratulations to you. >> thank you very much.
neil: and now, you know, high expectations for you and for the team. you want to take advantage obviously of republican house, republican senate, run of the table. reverse of what barack obama had coming in. what do you plan to do? >> well, first thing i want to address, you know, this populist comment running the table. that sounds very exciting and whatnot but what i have really experienced so far from the entire team, not any gloating at all. first priority how we bring people to together to address things that simply haven't worked? the rut the economy has been in. we talked about tax, trade, deregulation and even energy. how can we be most impactful cooperate way to build bonds across the aisle to get things through in proper and legal manner. neil: that is great. how will you run the table with that? i'm kidding. >> i love it. neil: some things are easier to get through or push through. >> sure. neil: in an environment like this, than other. >> sure. neil: and then others require
especially going to make substantial changes to the tax code. that is something in the senate would require 60 votes, but could you steer me through what would be your mind priorities? >> sure. i think the priorities have been very clearly laid out by president-elect trump. first of all with repeal and replacement of obamacare. if you look at priorities there, getting rid of subsidies for example. the individual mandate for folks that didn't want insurance or didn't feel they needed that type of insurance. most importantly employer mandate. instead of having great insurance packages as benefit and incentive to attract, retain and maintain great employees, having that jammed down your throat as not such a good plan, mandated that most folks didn't like and frankly employers were grossly overpaying for. when it comes to dodd-frank, obviously we're looking regulatory exemptions specifically for communities banks and regional banks. get money back on main street, so that we can get money out to
small business and entrepreneurs and people in communities around america that understand the story. and when it comes, comes to deregulation, get some community bank relief so we can get that money back on the streets. then of course, everything around mortgage and consumer finance, reduction of new, safe lending products, to get money out to americans to help them live the american dream. i've been working on empowering the american dream more than 20 two years. next to wearing uniform of this country, no greater honor than i experienced in my life. neil: what about those tax cuts? how would those be emphasized and how would they be rolled out? >> well look, as you said we'll neat support of greater number of members of congress. markets reacted. people have spoken. public markets show better than anyone, back in april my rather strong arguments that the markets would react very
favorably to 20% cut in the corporate tax rate and to simplification. neil: that is still on the table, right, steve? would that be -- >> 100%. neil: would that be one of the things right from the get-go? pushing through lower taxes? >> you have to understand that mr. trump fully intends to execute on all the promises that he made. he will surround with people working on agendas, make the deals necessary to get those through congress and to american people as promised as quickly as possible. people are begging for it. markets reacted. let's move forward to fan the flame of entrepreneurial spirit and get us back on track again. neil: thanks for taking time out of chicago. a key economic advisor and again, ear of president-elect, caulk.
remember jimmy carter had promised tip o'neill and jim wright and others. tip o'neill who famously said later on when ronald reagan came in, he had far better warmer productive relationship with republican president than the democratic predecessor. it is not always immediate you get your own party behind you but it does appear mr. trump has. get the read from former bush advisor ron christie, and ned ryan, former bush 43 presidential writer. good perspective from all. alexander, you always hear there is enormous pressure on a new president coming in, especially in this case he has republican congress working with him. it was same pressure on barack obama. of course you will get stuff done. you have the full run of washington. but that isn't always a guarranty, right? what do you, what do you see being prioritized to make sure everyone is on the same page?
>> first of all, i think enthusiasm is absolutely there to get things done. not only do you have a bunch of congressional republicans who have been waiting for the opportunity to pass through a piece of legislation, but you have president lent trump who pitched himself to the american voters someone who can get things done and get them done quickly. what his priorities will be when he talks about infrastructure spending. he wants to spend a bunch of money building new roads and fixing bridges. wants to repeal and replace obamacare and address the broken immigration system. those are all things that a republican congress led by speaker ryan and mitch mcconnell are well-positioned to do because they already have the plans. neil: they are already on the same page for that? >> i believe so. neil: ron christie, the reason i bring it up, there are those rebellious tea party republicans still there, not in the numbers they used to be, not as loud as they used to be, who might worry about big spending initiatives,
big infrastructure initiatives, even big tax cuts that will drain government covers at least in the beginning before that stimulus money is felt down the road. how do you think that's going to go? >> good afternoon, neil. i think it is going to go very well, actually. i think congressional republicans led by paul ryan and better way forward have laid out a six-point agenda addressing exactly what you said. how do we look at regulatory reform? making sure folks are transsiging into jobs? how we reinvent the way government works to more responsive way and responsible way forward. with a new republican president-elect it gives congressional republicans the opportunity to sit down with a new transition team and find areas of common ground and legislation we move on quickly. i'm actually encouraged the first 100 days will be rather productive. neil: ned, when i look what the agenda is shaping up to be,
heavy emphasis getting rid of health care law, could be easier said than done, cutting back regulations the latter two specifically will involve in the senate getting 60 votes. so it is going to mean nabbing about nine other democrats, right? is that doable? >> well, so there is a couple dynamics here, neil. great to be back with you. i got a call this morning from very concerned member of the house, freedom caucus, there is not time for civil war, no turmoil inside conference. we feel we have a good plan in place. let me remind people that in this last year, paul ryan put together civic -- six task forces within the republican caucus, they discussed health care reform, poverty reform, constitutional government, tax reform, dealing with national security. once those things were done, paul took the agendas to sit with trump.
they had multiple good conversations about those priorities, that agenda. and he told me this morning -- neil: which were priorities they most agreed with? which priorities they said there was little distinction? >> so the substance has been agreed upon but he did make the point, the priorities have not necessarily been agreed upon but i think what you will see hire, a lot of people going okay, we've seen it. we're excited now. again when you talk with members of the u.s. house and even the senate and frustration they have experienced over the past few years, they are raring to go. paul ryan said wednesday, it is time to go big or go home. you're seeing a lot of excitement. i think you will see a lot of coming together. it is going to be interesting for me to see, not only dealing with obamacare, i think you made a great point. people have to be realistic about it, they will address that very quickly, but before a couple years before you see obamacare really rolled back and repealed and replaced. the other thing i hope they're going to do in very short term, we talk about infrastructure, we're an energy superpower.
we have to be realistic about the energy resources on federal lands and responsiblably tap into them. take percentage of those royalties to dump it into infrastructure. there will be a lot of creative good ideas taking place in next six months and year, through the first four years of the trump administration. neil: alexander, one of the things that comes up in the discussions how president obama skillfully, some would argue undown associationnally exploited executive orders and directives. some republicans suggested, why don't you respond tit-for-tat, president-elect trump, coming into office and having executive orders signed that will undo his executive orders? i don't know how the process works but that would set a tone right away. that could help him. in other words, to look where things are moving, very, very quickly, when actually stroke of a pen on an order? >> this is something he talked
about doing, rolling back a lot of these illegal executive actions that the president took in the first place. unfortunately for him -- neil: but he would be doing it, doing something that others would deem just as illegal, right? >> look, i think that what's more important here is what paul ryan said yesterday, that he has a mandate to get things done, congressionally and legally. even if you look about having to reach across the aisle to get a couple extra votes for some of these proposals that they want to do, don't forget, that president-elect trump was able to do what republicans hasn't been able to do last decades, flip incredibly blue areas of the country to turn red again. there will be congressional democrats feeling the heat. >> exactly. >> to work with the new president and unify behind him. this isn't just going to be republicans having a party all to themselves. democrats will have to come to terms with the fact he did win with a clear mandate with and
was -- neil: they don't buy clear mandate. numbers from california, popular vote very wide. i know how this goes, you will be surprised to hear they're not buying mandate. >> another point to make though, is let's look at that senate map in 2018. joy manchin and some of these guys -- neil: that is key. >> there are thin rumors. we don't know what man chins will do going independent to caucus with republicans. trust me most politicians they're experts in self-preservation. they will look at 2018 elections and going how we make sure we play along so we don't lose our seats in 2018. neil: what is the old line? who is winning in? i want to be with that person. >> thank you, neil. neil: we're watching relationships that are building on the hill as well as response to all of this on the part of protesters, not across the board but in some states and cities where it has gotten pretty violent and protests escalating
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neil: all right. those are some of the protests that we had last night and believe me they were yelling and cursing very loud. maybe that is why we turned sound down. i don't want to share that with you. that is not nice. president-elect trump originally blaming media for protests against him. meet-yard critic says the -- media critic says the media is to blame for a lot of this.
by now you see the sort of twin responses donald trump originally saying had a very open and successful professional election. professional protesters incited by media protesting. unfair. later on, love small groups of protesters had passion for our great country. we'll all come together and feel proud. he is feeling pressure of duly-elected president of all americans. his original one was accurate. a lot of these protesters are being goaded by media and are, you know, seen as doing their constitutionally, which is right but extending that beyond that to rioting which is not their right. >> right, and i don't think you should even praise rioters as passionate. they're rioters, criminals. neil: exactly right. >> if you look back at past six
months the liberal media has been hysterical about a potential trump press den he sy. they called him every name in the book. he was imbecile candidate, uninformed. he promotes white supremacy. after the election you have people going on cnn talking about it whitelash, a trajectory towards tragedy. you know, that is the kind of journalism that, you know, i think students whoever are seeing this, okay, this is some kind of a that this is fourth reich coming to america and the more trump act the calm it looks like nonsense to the media that preached it for many months. neil: to your point we all have a right to protest. we don't have the right to burn things down and turn this into dangerous situation. other people have the right to go about their lives. so that is their right. i was surprised mr. trump dialed
it back to the degree he did. and i hope, not that i'm one to give advice one way or the other, but the key thing to his success ignoring the media, taking on the media, is a sign that he would respond to something that is largely a creation, an exaggeration of the media? >> but, i think when you had journalists saying he would be a threat to american democracy, that you had, msnbc anchor saying she was reading up on hitler's rise to power to get ready for a trump presidency. neil: ridiculous, ridiculous. >> the more he acts absolutely neutral and calm and presidential and exactly as most americans would expect him to act, the more that looks like nothing but partisan fear-mongering. it makes the journalists who preached it even more discredited. neil: what does he do in that event, rich? i agree with you on the surface, how to handle that, to be above the fray and constantly fraying at you, and kind of protests that turn violent across the
country, after january 20th, he has got to have a response that is more than this is your dutiful right as americans. he has got to clamp down on that kind of stuff, doesn't he? >> well, if it is, infringing on the peace d civil rights of other americans, then i think, yes, at least local authorities -- neil: i think that what they are going to do. they will go ahead him, protesters, either those emboldened by the media, those paid by groups, i'm not saying they're all paid, but they will go ahead him, show he leads to tyranny and craziness. they will put him in unwinnable, untenable situation. >> when he becomes the president of the united states, he gets wrapped in the majesty of that office, americans want their presidents to succeed, i think more he acts like a president, he will have other people in his administration to go out and attack his critics, the more he is above the fray and presidential, the more power he has in these situations.
neil: we can only hope. thank you very, very much. mrc research director. uncanny read of media, what it was missing and how it would come back to bite them in the heinies this whole election season. meantime, congressman jeb hensarling reportedly up for treasury secretary although he hasn't indicated, honored, deeply, deeply honored, anyway he will give us the kenny. there is george p. bush. you think the bush dynasty is done? people look to him and say, maybe not. after this.
neil: i thought they had taken trump's twitter account away? no? because he is still tweeting, like a fiend. since the election he has been busy talking about how busy he is going to be. that important leadership decision, presumably cabinet choices, are in the offing. normally this happens within two
weeks after the election. he might stick to that time frame. that is typically when the president-elect starts naming his cabinet secretaries. but one on that short list is this next fellow. the question is he interested? congressman jeb hensarling, republican from the fine state of texas. apparently being considered for among other post, treasury secretary. he is a young guy. congressman, good to have you. >> hey, neil, thanks for having me today. neil: that's an honor to be even thought of in that pool for cabinet position. would you be interested? >> well, if i could, please, if you allow this departure since it is veterans day. as an elected official, as father of two teenagers, any veteran within earshot, thank you, thank you, for what you do, for freedom or safety or security. i needed to say that. listen, neil, the phone hasn't
rung in my office. if it does i clearly take the call. i'm very excited about the president-elect's economic agenda. the thought of passing fundamental tax reform, something that's built for growth, built for simplicity, makes the irs accountable, i have shared with donald trump before, plans that we put for the in our committee for getting rid of dodd-frank. he wants to get rid of dodd-frank. i'm very excited about that. holding unaccountable bureaucracy accountable. they have way too much discretionary power. they're harming the economy. i'm excited about the president-elect's agenda. you know right now i'm in a pretty good position to help that agenda. if they want to talk to me about something else i would take the call to have that conversation. neil: wouldn't it be something, your wife told you it is president-elect trump, i'm not here. i'm not here. obviously you take the call. >> i would take the call.
neil: i heard your name mentioned. it could be a very smart choice, i'm not trying to blow you smoke, you know how to get stuff done in the house. that is important. even though republicans, you know have a more of a comfortable majority than they do in the senate, these policies, tax policies, percolate first through the house and getting them that in a form jives what they want to do with the senate and want to do with the white house, you're pretty well-schooled in that. that might be the reasons behind you being on this short list, if not the list for it. think of that? >> neil, only short list that counts is donald trump's short list and he may be the only person who knows who is on that list. neil: they leak this stuff out. i think, congressman for a reason. >> well -- neil: i'm not smart enough to know why but i could see in this case want to include someone who knows the house ropes and very good doing this in the past because you need treasury secretary that a wall street guy
would not bring you? >> i would say this about donald trump. clearly for example, when he reached out to mike pence to be his running mate. neil: right. >> he chose somebody who could take his vision and passion and take it to capitol hill where ultimately it has to be reduced down to policy, to legislative language and get through the congressional process. clearly that is advantage i have as well, now, having served a couple of terms as chairman of the house financial services committee and we passed fundamental housing reform out of the committee. federal reserve reform, most briefly legislation. president-elect trump on that months ago. that is our legislation to effectively repeal and replace dodd-frank. i hope i can help the president as chairman of the house financial services committee. if they're interested in talking about something else, again i will certainly answer the telephone. neil: all right. i'm sure you would. finally, i do want to get your thoughts on the protests going
on and pressure that donald trump has been under. many in the media say you have to say something. i'm not the brightest bulb, congressman, doesn't the present president have to say something? donald trump doesn't take over until january 20th. this is happening under this president. >> yeah. again, donald trump is the president-elect. he is not the president. so on one hand, obviously we know our first amendment is sacrosanct, freedom of speech, right to petition the government for redress of grievances enshrined in the constitution. nowhere do you see the right to riot to destroy private property. neil: right. >> just the hatred that is being spewed in the streets. the bottom line i wasn't happy eight years ago at an election but democracy has worked, and frankly i think recently president obama, secretary clinton, and president-elect trump have set the perfect tone. so just, it is just really,
really embarrassing and tragic that these people would be doing this. i have no doubt they should be passionate. they should stand by their beliefs but rioting is inexcusable and should not happen in our republic. neil: sir, thank you, very much. good talking to you again. jeb hensarling, fine state of texas. we will keep an eye, stress with rioting, it is exception, most americans including overwhelmingly share of hillary clinton voters might not be happy but don't do this kind of stuff or furthermore put pressure on man just elected to saying about them doing this kind of stuff. it is really kind of backwards. meantime we have a debt approaching $20 trillion. how many times did donald trump warn about that? co-chair of the debt commission. now he wants to see if that report, that this president
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governor martin o'malley saying he is running. trump sniffing all the time, coke user? that is same guy that wants to head up the democratic national committee. it is new environment. we're all hugging afterwards. some of us are rioting. you never know. this much i do know, the debt, it is out of control. $20 trillion and growing fast. former debt commission co-chair alan simpson who joined us on the phone says someone, republican, democrat, ideally both, have to get cracking on this. senator, good to have you. >> neil, here he i am, the master of lost causes back on your activities here. i've been listening to all this. these poor souls in the street, you think there were millions of them out there. actually a few hundred. neil: absolutely. >> some had to come out of class because they had a trigger moment when somebody brought up something unpleasant. that is the way it works, you never know. you how are you?
neil: i'm fine. i do want to -- you had a great report on how to address our long-term spending problems over the long term. it was a very methodical approach, republicans and democrat agreed made sense. initially so did president obama, now it collects dust. >> it does. neil: are you convinced in any way, senator, that a president-elect trump might give it anymore attention? >> not in these early days. i mean this for him and his staff, and his transition people, they're not going to talk about this one. nobody did during the campaigns so why bring it up now? the real issue is, that you're going to be talking about the budget, the budget, the spending, revenue, all this stuff on and on, yet no one is talking about 2/3 of the american budget which is health care. forget the nastiness of obamar health care and the solvency of
social security. and brothers and sisters, you don't talk about that. aarp will come to your home and muzzle you. they will chain you to your chair. but it's madness. so you have to deal with this stuff, but nobody is going to get into right now. but you have to just use basic math. forget all the dream world stuff. forget policy, and just take 20 trillion in debt. and, and the people we owe the money to are going to say you're addicted to debt and you're a dysfunction government and want more more money for our money and up goes inflation. neil: they are waiting for that. they attack you, alan, he and erskin bowles came up with this. they were gloom and doomers. nothing happened. economy chugged along. we chugged along. we're doing fine versus rest of the world. no need to worry.
you say what? >> that's right. you i tell them there is the tooth fairy out there and. and there is santa -- santa claus and other things like that if you don't think there will be tremendous impact and can't tax the rich out of the hole and no way to get out of this hole, we can't -- i hope there is new growth. neil: can you do that partly? one of the trump people here earlier tax cuts encourage revenue to the government. we get that done in short order. you heard the drill, we could worsen the deficit with big tax cuts donald trump is envisioning, but all the revenue would come in years later, voila? you say what? >> the old music and old dance and lyrics are the same and it never changes. that we're going to grow our way out of it. look, you could have
double-digit growth for 20 years and not get out of this hole but nobody is listening. i don't feel frustrated. we put it out there. it is 67 pages. neil: all spelled out very nicely but i'm wondering now, do you think that obviously now is not the time, a new administration coming in. last thing they want to do is attack that. but if they laid a blueprint out signal down the road they will? would that be enough at least to your eyes to calm the markets who are afraid we're losing sight of this, if they at least acknowledge this? >> there is a group, neil, and they're putting it together in a package. they're putting it in legislative language with democrats and republicans in the senate, to lay it out there in the form of legislation. i think that's a start. they can look at it, harpoon it, make fun, digitalize it with one hand and one finger but if they are going going to put it out there, there it is in the hopper.
it is before congress. at some point, you better start looking at something that was done by a group of people who had five democrats and five republicans, one independent, from ranging from dick durbin to tom coburn. you can't ignore this. but the trouble is, you could present a balance sheet and profit and loss statement to 90% of the u.s. congress persons and they wouldn't know what they were. neil: yeah. that's the problem. but i will say, you have app to deal with. how is it, i keep getting cards from the aarp. i know, senator, i don't look that old. here is what is amazing. i decline, don't want them. two weeks later i get another card. i decline. get another card two weeks later. follow-up incentives and coupons, early bird incentives. they are indestructible. >> they are but they're bigger than you and me. what as absurd during the whole campaign for months, where is your stand?
you tell us your stand? where is yours, trump? where is yours hillary. guess what? i wrote them and i never hear from them. but i said, where is your stand? i'd love to know where the aarp is on the solvency of social security. when you nail them, they say we need to tweet it. some of them should put a tweet in guard. neil: family show, senator. >> think of ads in there and bathtubs and -- most amazing organization. neil: 25% off pancakes if you order them before 7:00 a.m. senator, thank you, very, very much. or hearing you again. >> good to see you back. and your feisty best with your delicious wry humor indeed. neil: appreciate your lovely letter in my absence. that was very, very kind of you. i will never forget it, senator. thank you very much. alan simpson. he is right, whether you agree
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neil: no one in corporate history did their much in first 100 days as ceo as jack welch at ge. what does he think donald trump should do. take a look. congressman said laundry list, tax cuts, beef up military all within the first 100 days. how would you fine tune it? you had a blitzkrieg at ge. >> he has to complete promises, aca. neil: talking about the affordable care act. he wants to junk it. >> he has to junk it and have an answer there. i think paul ryan has been makings of an answer. he and paul ryan, paul ryan was very conciliatory this morning. neil: right. >> they might make this --
neil: how did that go, jack? when you got the ceo job, up until, you know donald trump was elected last night, the highest ranking republican in the country was paul ryan. i guess conventional decorum on the subject is president is defacto leader of party, technically he is over paul ryan and he will call the shots for the party. how do you think that will go down? >> if this morning is any indication, paul ryan wants to play ball. he is a policy wonk. he has 18 policies he wants to get done. he needs the president. neil: president needs him. >> and they need each other. if they are smart they will do that. re i think they will. donald trump knows how to make a deal. neil: that is essence. donald trump knows how to make a deal. the wrote the book on subject. dow on track for one of the best weeks in five years. connell mcshane what companies are thriving, what companies are
sinking in this environment. they are confident president trump could do constructive things but that's what they are banking on, right, connell? reporter: dow up 5.2%, give or take. what a far cry covering election night, futures were down 800 points. things turned around people started to think in many cases what a president trump would be like in terms of policy. highlight three sectors for you in terms of health care. first two are way up, health care, aetna up 13%. 16 percent for humana. many biotech stocks done well this week. if clinton won, price controls, health care in general, jack welch, getting ridded of obamacare, certainly something that is being thought about. financial, these are great gains for likes of goldman sachs.
this is deregulation story, maybe get rid of hypothetically, dodd-frank but moving away from regulation. a lot of financial stocks moved up. regional banks done well in addition to big stocks, big companies we're telling you about here. s&p 500 financial sector index, having its biggest weekly gain in since august of '09. technology the opposite of this. trump has been hard on some companies, am son and apple and others. some may be immigration. h1b visas, highly-educated talent coming in from overseas. silicon valley loves that. in general technology has not done as well. the big picture story, to your point, neil, you had investors looking at some of these stocks, infrastructure gains, spending on infrastructure will help a lot of ones we're showing. they look at some companies can and stocks and think to themselves, boy, maybe this isn't so bad. lower taxes, less regulation, stocks have done well. neil: you never can tell.
connell, thank you for great work this week. juggling a lot. saying nothing working with the imus guy. >> who? neil: holy toledo. connell mcshane. everyone looked like iconic images from the oval office. everything looked hunky-dory and they were nice and civil. enter charlie gasparino saying not at all. not anything like that.
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at the picnic. a great thing to relish. he says, wait a minute. >> i hear them laughing about me. i hear them. neil: they're jealous. i will take care of them. they will disappear. you know what got my attention, you were only one saying it, following up, this kumbayah meeting at white house, wasn't quite as kumbayah as made out to be. >> i will tell you this i wasn't in the room. these are two men and, they have very harsh feelings for each other, at least they had. from what i understand they still have. neil: never, never, ever goes away, never. >> you were absolutely right the other day. they can be all smiley faced here but after they left the room, from what i understand, this is coming from democratic party operatives, they're saying obama has been telling people he believes that trump has no idea what he was talking about when it came to national security issues, and not only that, that trump actually inside the meeting was blown away. he was completely daunted by the fact of what he faces on the world stage right now.
now that is at least what the spin is coming from the democrats. you know, we should point out that donald trump is amazing negotiator. we know that because he did great work with those deals with the banks during all his problems with real estate in the early 1990s and casinos and he really came out ahead. he doesn't show his cards, right? that may be wishful thinking on the president's part. that may be him misreading donald trump for his part. but that is, that is the word that came out of that meeting. neil: wouldn't that be natural, charlie? sort of like when eisenhower met with john kennedy and john kennedy we're overwhelmed, this young guy replacing veteran soldier, two-term president. there is eisenhower showing him all the hot spots around the world and trouble. it is overwhelming, i'm sure anyone, right? >> it is but be real clear, eisenhower was a general. he led the war effort, won world war ii. we forget john kennedy fought in world war ii. neil: you're right.
saying that as example he was overwhelmed. >> both of these guys don't get there without being cocksure. and i think. neil: absolutely. >> this is wishful thinking from the democrats. i'm putting in in context right now. the democrats have begun their campaign to seat donald trump yesterday, okay? they are trying to downgrade him, trying to show the world, this is how they will hit film in the next four years. he doesn't know what he is doing. he is a neophyte. overwhelmed. neil: said it during the campaign and still got elected. >> absolutely right. they will continue to do it. point out, democrats, i don't buy this, this was fluke. he got less votes than mccain and romney. this is how they hit him. take away from the viewer, not necessary to believe that hot air coming out of the white house is to realize the political game to unseat donald trump has begun now. neil: all right.
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interim spending bill to run and to do with the debt ceiling, that is the first big for crisis, and that is the total level of red ink the government can carry, and putting justice on the supreme court, it is a doozy, the reason is because this arcane process, you will hear a lot about this in the next couple days and weeks, budget reconciliation. what budget reconciliation does is lower the bar for filibusters in the senate, it sidesteps the ability. you can put it through with 51. otherwise democrats would filibuster a piece of legislation and you have to have reconciliation through the budget process but you can't do budget reconciliation unless you approve a budget. paul ryan and the rest of the republicans in the house of representatives. neil: i imagine republicans
would clear the deal for donald trump for these important issues to be settled, and can hit the ground running. am i wrong? >> they want to give them as much latitude as possible, has to do with reagan coming in and southern democrats, the blue weevils, people cowering and being willing to say we will pass what you want and the reagan tax cuts. neil: reagan had a landslide to back him up. >> they want to give as much leeway as possible and i talk about operational things like budget reconciliation, they repeal, repealing obamacare is easy, they voted to do that in the house and senate, president obama vetoed it. you have to have a replacement bill, and the replacement bill
passed under the republicans, they don't have the votes to do that. neil: how they deal with 20 million health insurance they didn't have it before. looking at a way to avoid any of the problems, it would be viewed in the eyes of the media, you have taken insurance from 20 million americans. how do they plan deal with that as they rip it apart? >> we hear about having a year-long sunset that give them a year to come up with a replacement bill. remember during the supercommittee we had a plan to impose cut sequestration and that the supercommittee fail in summer of 2011, the reason they come up with agreement does no one wanted sequestration. they never came up with an agreement and five years down the road we are still dealing
with mandatory budget cuts. just because they have a gun to their head doesn't mean they will do something. they have this lead time, maybe they will get somewhere to work it out but they haven't worked it out, what is so magical. neil: issues like tax matters would require 60 votes in the senate. that would require 60 votes. >> unless you do it with reconciliation that is people with taxes, they might kabul this together with the debt ceiling deadline where you get some cuts, work out some entitlements, john weiner and president obama tried to get a grand bargain and came close. neil: they wanted more taxes. >> they thought he would cross with his caucus and rely on too
many democrats versus republicans and argue he walked away. neil: you are an encyclopedia. thank you very much. he will share his perspective. one of the most consequential first hundred days of the new administration coming in. what chadjust pointeded out, john wayfield, how the republicans finis this by not finessing it, getting this stuff out of the way and charging ahead with big tax cuts, regulatory relief. all a grand slam right up top to let people know this is what we are doing. >> president obama did this with obamacare creating such ill
feelings no one worked with him for the next six to seven years of his term and president-elect trump could do the same thing by shutting down obamacare when he has a majority. if you do something working with the economy, tax cuts, reforming the tax code, that is something that could be a bipartisan issue. 100% partisan issue putting through first and shut down the government like it did for president obama. neil: because you have the majority and your way, if i remember correctly with the affordable care act, not a single republican vote, come back to bite him and how does president trump avoid that or does he worry about that? >> there is going to be a lot of
uncertainty with policymaking especially considering president-elect trump is not your traditional republican and he is coming with his own priorities and plans for how to reform health care or tax reform but he will work with republicans in congress and to recognize some of these reforms are good for the country, good for the economy, good for the pocketbooks and millions of americans who face premium increases doubling and tripling, americans are expecting because he was elected to the white house and republicans were elected to the majority of congress and the senate they will act on those items. neil: i could be missing something but i think the single most important issue is goosing this economy and providing immediate tax relief, doesn't have to be in the shape and form donald trump outlined but something -- at this stage of the recovery. there are other issues i am not dismissing, it strikes me as the most important but the most
problematic. >> tax cuts are great, we can't look at them out of context, and government's role in the economy. long-term what policies and acted by president-elect trump and what the policies will be. the stock market was up 200% under roosevelt, but they hunted our economy for years, the first george bush market was down under his presidency but he deregulated the economy and benefited under clinton so you have to look long-term. george bush or trump is a question mark. neil: you were not born in the election but something else that comes up is you talk about bipartisanship, something miraculous happened, i don't see the issue changing where it is all one party's way or no way,
first two years, democrats with barack obama, i suspected would be the same no matter how much donald trump tries with republicans and president trump but how potentially damaging could that be? we learned when you get a lot done in the first two years it can carry you through a term and maybe a second term. >> you have democrats hopping on board with this, people vote with their wallets and democrats went to be -- and the bipartisan issue. and it is a separate issue. that will significantly help the economy. the worrisome part of the trade issues going forward but now the stock market is looking at this and financials have been under so much pressure, when you take elizabeth warren out of the equation financials of rally
because you have dodd-frank fixed in some respect. and something that is feasible, and premiums don't go up. a lot of bipartisanship behind president trump if that happens. neil: cutting this short, apologize for breaking news, senator mitch mcconnell, the republican leader will continue serving in that capacity in the new senate. a news conference to discuss his meeting with president-elect donald trump, the university of louisville. we will go to that when he does because we might get an inkling for what is in store. john huntsman junior, former president of utah, 11 languages, i barely have english down but maybe he can make english of what the heck is going on in this country and how both sides have to work together to get stuff done.
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neil: breaking in to watch the republican senate leader on his thoughts on donald trump, meeting with him yesterday. >> quite good. we had a good discussion about we are going to be pursuing in congress with the speaker as well. and things you expect us to talk about like the supreme court. our concern about obamacare and our desire to change that. much of it reflected positions he took and many of us took prior to the election. the american people expect us to pursue the agenda we talked
about and i'm confident that is what we are going to do. >> what are your first priority is going to be? >> if i can start this year, we have three weeks to finish up this year's work. and if i may start with that we have to decide how to fund the government because the democratic minority in the senate made it impossible to pass individual appropriation bills and fund the government so we have to figure out how to do that. and also, there is another piece of legislation you haven't heard much about that is extremely important, 21st-century cures bill which is a bipartisan proposal i have a great interest in, and the current vice president, this is to jumpstart medical research with significant increase in funding
in nih with exciting new developments, the president is interested in precision medicine, the vice president, interested in the cancer moonshot. i'm interested in regenerative medicine, unless you can get in a clinical trial, you can't take stem cells out of your own body to treat another part of your body and i got interested in that because of a man from tennessee who came to the office who was legally blind six months ago and is now driving. he was able to get into a clinical trial, not allowed by fda. to sum it up we need to take advantage of today's technology to jumpstart the medical field in which there are enormous innovations occurring almost on
a daily basis. we are talking with the new president and speaker and i will be talking about the order in which to pursue priorities and i'm just not prepared to say what the order is going to be but we will decide that we reconvene in early january. >> what will be done to end more -- the war? >> i would like to see the war on call come to an end. over the last few years -- neil: very interesting, mitch mcconnell laying groundwork for stuff they want to get out of there inbox including lame-duck session of congress, if you are reading between the lines, clear the slate so that when president trump comes in they can get
moving. they did not trigger any discussion of his immediate priorities, those are issues that are going to be done the quickest. and quickly and profoundly getting the attention speedy action gets in the press. bill clinton pollster and the impact, charles payne here, it is interesting, he is very cognizant mitch mcconnell, the awesome duty and responsibility of being the party in power and having control about not screwing it up. part of that is to act on stuff fast and get stuff done fast. what do you think will be the approach? a blitzkrieg of measures? >> i think it will be. there is one hidden message,
enough of president elect trump's agenda has some appeal to democrats that if the republican party doesn't fall into line immediately, the prospect on his central initial promise of infrastructure spending, democrats could be asked to join with the republicans in conception and funding which would be a huge positive development. neil: you know these washington -- ins and outs, you know wall street very well and wall street will respond to stuff getting done and not getting logged jammed, certain logjams they welcome, delays on tax cuts, delays on regulations, i would assume not not be one. >> absolutely right. this rally, this trump rally is
also a gop rally. if it had been donald trump president, democrats in charge of the senate and the house it would be murky and for some reason the notion that wall street loves gridlock has been a narrative but that is not true. wall street -- you won't get growth with growth lock. doug is right. everyone, both candidates talk about infrastructure spending, donald trump talked about it more than hillary clinton. that will get through and the notion that a lot of things get through and get through quickly, looking at the way truckers are trading in the idea mexico's residences he will meet with donald trump before the inauguration, canada look like they are blinking, major news on nafta right out the gate so wall street is excited. neil: avoiding long protracted arguments was the hallmark of ronald reagan and i am wondering if what trump is trying to do to move people without being in power yet is part of that
strategy. >> i'm convinced you are absolutely right. we need to go back to the art of the deal as a number of people said and see how donald trump conducted his business and his wife. he doesn't wait for anything. he make deals as necessary, and senate majority leader, and affirmative obligation to move as quickly as possible, as charles payne pointed the out, >> a lot of people in wall street, tax cuts fast. that would be a tough piece for democrats as well. how would that be reacted. >> a little bit of a pullback, the other things wall street is
reacting on is conciliatory donald trump. this is not the maniac that was advertised to the world. wall street is never against donald trump's economic plans. the notion in the media driven notion that this guy was going to fly off the handle and become an imperialistic president out the gate entering the country upside down, the exact opposite thus far and everyone is applauding. neil: thank you very much. you think the bush dynasty is done and the clinton dynasty is done. i can't speak about the clinton but someone from the bush dynasty might disagree that it is done. george the bush. the pursuit of healthier. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day.
and the clinton dynasty. though their media stories but often times forget the next fellow, jim bush's sun and the texas land commissioner, george scott bush. if only bush publicly backed donald trump. good to have you, thanks for coming. when you did that. and you supported donald trump, there was great friction in your family for donald trump on the part of your dad. i am wondering given the fact your uncle, the former president left that blank, didn't vote for mister trump but did call him and wish him well after the election. i need enough, our by guns by guns? the bush family okay with donald
trump? >> absolutely. this is more important than the individual. this is the future of the country. you are right, my dad, uncle, grandfather all reached out personally to donald trump, congratulated him via twitter to recommend that he continue to follow the guidance of the people who have spoken loudly and clearly about this election and we will be supporting him because if our country succeeds it will be because he succeeded. that is the gracious thing to do. politics is a profession, not a way of life. for our family we want the best for our country and donald trump needs to succeed. neil: i asked before, did you create any controversy, i was going to support and throw
confidence in donald trump. >> my family understands my position, and elected official in texas, i stand behind the nominee of the republican party, put in my uncle and my dad and my uncle over the years, the blood, sweat and tears to show for it. i shared with activists that you got to get back up which and prevent hillary clinton from becoming president. there in terms of the future, a good position is possible. neil: we don't know what a donald trump president he will be like. it will be different, we do know, strictly party line, he might be looking at very big infrastructure spending, that would make your dad, might make
you win. he says he has ways to pay for that but he will be a different guy and re-crafting the republican party in a populist party way too soon to tell. does that where you? do you welcome it? >> i am a classic conservative and excited by his proposals in terms of legal, regulatory and tax reform that is desperately needed and he wants to prioritize the repeal of obamacare is important, we have seen the deleterious effect of the obama administration. neil: do you worry republicans in their zeal to get rid of it and replace it could leave 20 million people who have healthcare now sort of in a twilight zone? what would you recommend? >> not with a competitive system by which we offer small
businesses to allow for individuals, whether they be employees or employers such as small businesses i interact with to obtain healthcare and achieve a cheaper basis. they are not quite the level of kentucky or tennessee with 2 x in terms of premium increases but people of the industrial midwest spoke clearly to the increase in premiums small business owners and individuals witnessed. neil: you are quite right on the premium, many contributed to the election, and the risky position as you move the system. a lot of people won't have insurance coverage. >> at the state level, to block medicare and medicare spending to allow the states and counties and municipalities to better
distribute capital but i think it comes down to the 10th amendment empowering states and allowing us to assess our health care plan that can supplement what we provided low income folks in our state. i am an optimist. i think the trump administration which i hope will have a few texans at the table will allow us to work on conservative principles. neil: what about your uncle or your dad. with a ever entertain a role in the administration? >> it is safe to say they won't play a big role, but they are willing and able to provide the council that mister trump would seek if he deems that necessary but like i said at the outset, we are here to support our new president, we need him to succeed and want our country to
succeed. neil: very good seeing you. thank you very much. all right. john huntsman junior, his read about getting the parties together, getting america together while we are at it. it could happen after this. hey dad. hey sweetie, how was your first week? long. it'll get better. i'm at the edward jones office, like sue suggested. thanks for doing this, dad. so i thought it might be time to talk about a financial strategy. (laughing) you mean pay him back? knowing your future is about more than just you. so let's start talking about your long-term goals... multiplied by 13,000 financial advisors. it's a big deal. and it's how edward jones makes sense of investing. see me. see me. don't stare at me. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop until i find what works. discover cosentyx,
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also told democratic leaders, not just meeting with republican ones. he is doing all stuff cosmetically important put it mildly when elected to highest office in the land but it will take follow through that republicans hope to avoid criticism democrats got running the table with the senate and house and white house ramming stuff down people's throats and came to bite democrats and many argue lose this election. here to get a read on all that. former utah governor jon huntsman, jr., former presidential candidate, am ambassador to china, et.al. >> pleasure to be with you, neil. neil: one of the things you argued about is stop the arguing. and try to get stuff done but it is very tempting, right, when a party has full control of the legislative branches and then the executive branch, to do whatever they want to do. we learned from democrats, as we had from republicans that it can come back to bite you.
how does donald trump avoid that with pieces of legislation or you name it? >> well you just reprised the history of eight years ago. you might think i'm smoking something they just made legal out in colorado, but let me tell you this, neil. i'm actually a optimist when it comes to bipartisan wins early in the administration because i think you have convergence of important things here. my party, the republican party, has been devoid of a lot of content in recent years. that has been taken care of. you've got a new president-elect, donald trump, who has some ideas and moreover he is classic deal maker. you had in president obama somebody who doesn't want to engage directly with congress, so nothing got done. we languished after health care reform for most part. that was straight party-line vote. if you look at it this way, first time since the 1920s, neil, republicans pretty much control everything. i suspect they will want to be smart about learning some lessons early on, that allowed
them to get some bipartisan wins, building new muscle mass to make the machinery of legislation begin to work. good news beyond what i told you, i think what i'm picking up from the president-elect's office, you have got some content you can build some bipartisan accomplishments. neil: where? it isn't on tax cuts. a lot of democrats say nonstarter. might be a moot point. what do you think. >> take off things that will probably not have a lot of birpartisan cooperation. supreme court nominee, probably not. immigration reform, probably not. tax reform coupled with infrastructure. as governor of the great state of utah, we did a lot of tax reform, historically so. you couldn't do it on stand-alone basis it had to be tied to something opposition party wanted. you can see a deal -- neil: what about -- >> roll up, roll up your sleeves and you got to cut a deal and give them something they want.
you never walk away with 100%. neil: what did you do in utah? >> we created a flat tax. a lot more went to it. tax reform and infrastructure is one big basket of possibilities. i think health care reform, as tricky and sensitive as that is, neil, i think is another area of possibility for bipartisan cooperation. so, jettisoning obamacare which will be done, has to be coupled with okay, now what? you have to build it up into something. it is building up part i suspect you find bipartisan convergence on. you have to or you have a replay of eight years ago. i think we're too smart. neil: i think, that deal maker like donald trump differs from that traditional washington deal-making, i don't know whether it is good or bad thing, governor, hear me out, he might recognize key people up for election in two years from now,
quite a few, i think 24 democrats are, in order to sort of peel off their support, much as ronald reagan did, things would be done to help them out in their states or in their districts, one by one, rather than making a deal that would appeal to a broad swath of democrats that would be anathema to republicans so he doesn't have it water down everything. goodies, business deals, if you will, that will keep them in the fold and maybe help them when their own elections two years out and there is donald trump to say, i can help you from armageddon? >> listen, he comes from the business deal-making world. i have lived in that world. i have lived in the political deal-making world. i suspect being pragmatic deal-maker he is, he will find some democratic convergence, you pick off joe an manchin, will bring five or six people in him. sit down for replacement of
obamacare. neil: get him to switch parties. get him to switch parties. >> he is good man. who knows where he is right now. president-elect trump is talking about how you expand and make more competitive insurance sector. so let's take that as one key area that is going to be critical to reform because it carries so much of the cost around health care. you have to get that right in order to get everything else locked up. it is state by state. they're not affordable or accessible. it is ripe for reform build coalition around. populations have to be covered. broadening expanding insurance possibilities from just catastrophic expensive and accessible from students to cadillac versions with bells and whistles. we're nowhere near the marketplace that needs to be created for that. i'm excited about possibilities. there is enormous progress in a area that is 20% of our nation's gdp with double-digit cost increases. neil: you might be right.
it took nixon to makeovertures to china. >> there you go. neil: it could take all people, donald trump a man ripped apart in the press during the campaign for being ultimate deal maker. >> just when you think it is not possible. neil: governor, we shall see. governor jon huntsman, jr., always good having you on. >> thanks, neil. neil: you probably heard of high-tech companies having collective sort of lament after vote did not go their way or at least way they wanted, they're moving on but, how about you? ♪ we asked people to write down the things they love to do most on these balloons. travel with my daughter. roller derby. ♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love.
>> i'm ashley webster from the floor of the new york stock exchange with flocks business brief. we heard in last five minutes from warren buffett that berkshire hathaway has not sold any shares in wells fargo bank despite the big scandal involving fake accounts which buffett calls egregious mistake, but says no, i didn't sell any shares. biotech continues to do very well in the wake of donald trump's victory over hillary clinton. that sector as can see and stocks in it doing very well. donald trump seen as someone who will cutbank regulation. positive for the banks, especially regional banks. they're moving nicely higher.
for, it is time to move on, et cetera, et cetera, but then you have the grubhub ceo who we heard a couple things about. he is backtracking on his earlier missive to workers essentially saying that if you voted for donald trump, write your letter of resignation. he said that was vastly misunderstood. we'll get into that in a second here but should companies even be in this business of sort of checking and recommending who their workers should support? potbelly sandwich shop ceo is with us right now. owen, good to have you. >> thank you, neil, how are you doing? neil: good. did you relay your support of a candidate to any of your workers? >> oh, of course not. politics is personal and, we're here just to help sell sandwiches and keep our customers happy and keep our employees happy. we're not in the business of telling people what to do with their personal vote. we love america and we want the next president to be very successful.
neil: you found out republicans and democrats both eat. so there is something to say about that but this grubhub dude is over the top by essentially saying that those who supported donald trump must have supported his nationalistic policies and all this other stuff and as such weren't welcome there. he dialed that back later saying that is not what i meant. you heard all of this. but he got himself in trouble in the first place by just discussing it, right? >> yeah, it is not something we would ever do. again, it is personal and we want people to exercise their right to vote. we're all americans. whatever decision happens we wish best for nation and candidate. but my messages are all on our culture, satisfying our customers, and insuring that we're serving our product the way we want it. so i would never think about doing something like that.
neil: you know there are some industries where you can kind of know where the chiefs are coming from. i noticed, for example, in the coal industry, not big fans of democrats. high-tech, silicon valley, not big fans of republicans. i guess in your industry it could be a little more divided but, how is that and why is it? for example, in the technology world i know not exactly your world but almost monolith i can, in energy world, traditional energy, almost monolithic republican. why is that? >> oh, my goodness. i'm a sandwich maker. i'm not, i'm not going to get -- neil: me trying to corner you and you didn't take it. >> yeah, yeah. no, i will talk about potbelly all you want. neil: all right. since the election we're told throughout the whole process a lot of people weren't eating right, bumming them out. did you see any of that?
>> well, listen, the consumers fors us caught a cold around april and you know, we had a great first quarter, strong growth in the business, same-store sales and customers started sitting on wallets around april. that extended through the election. some folks said it is a function of the election. we don't really know that. the one stat we look at is cost of eating out and cost of eating at home, an customers are getting a real bargain with supermarket prices these days. it put as ton of pressure on us. you want to win, no matter what, but we are facing headwinds. we think about things we can do to grow our business and keep our customers coming back more and more. we've been working on a new app that will roll out early next year that will have is the best class features of pay, location, ease of ordering. neil: all right. >> we continue to build 10% new
units a year. one of the things we stumbled upon a few years ago, drive-throughs, fast casual were built on non-drive thrust. 10% of our fleet by the end of this drive-throughs. we love them. 10% more expensive but 20, 30% more in sales. those are type of things we're working on. neil: motorcade coming through the drive-throughs. >> we would not charge him for his meal, guarranty you. neil: thank you very much, potbelly sandwich shop. we're looking at what kind of records as a result and charlie gasparino is next. ♪
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neil: all right, we're getting reports that "new york times" republican vice-presidential candidate mike pence is going to take over the trump transition team effort. remember this was going to be chris christie's job apparently, according to "the new york times" it will be mike pence. whether the post-"bridgegate" issue not directly involve the governor, he was not part of that trial but they have moved pretty fast here, it would seem to put pence handling that and not the governor. i don't know what role that would make for the governor. go to charlie gasparino following this and so many other breaking developments. charlie? >> we should point out neil, as we were reporting yesterday, christie has been downgraded inside i guess the transition team in this sense. he was serious contender for ag, post-bridge gateway it turned out two of his senior aides guilty of fraud allegedly causing a traffic jam on the george washington bridge as payback to political opponent mayor of a town. neil: right.
>> across the gwb, you know, people were saying he is off the list on ag. it makes sense he is not part of the transition team now given the fact he is a little bit, put it this way, a little bit radioactive. neil: would he have any role? >> i think he will. neil: what would be it? >> i think he will. unless they find something really critical, that is what we have to look at. then he will be out of transition all together. i think he will play a roll here. interesting the market reaction to trump. stocks gone up or barely up today. look at shares of fannie, freddie. fannie mae and freddie mac, they're penny stocks following receivership they were put in, all the profits they make, they make profits after they almost went belly-up going back to the federal post. government, that donald trump is close to carl icahn and two
hedge fund managers want profit reverted back to fannie and freddie he will reverse what obama is doing. i would tell people not to bet on that. neil: sorry to jump on you. we have a lot more after this. because, healthier doesn't happen all by itself. it needs to be earned every day. r by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healthier we're here to make healthier happen. what?pony neighing] hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly
neil: trish regan right now. trish: hey there, neil. democrats blame everyone, everyone in the world except for themselves for their stunning loss this week. thousands rioting in the streets causing mayhem as they refuse to accept the democratic process. i am trish regan. welcome, everyone, to "the intelligence report." the clinton campaign and its supporters just cannot admit they did anything wrong, blaming the fbi, blaming donna brazile and, of course, the media for her stunning loss. meanwhile, outgoing senator harry reid adding fuel to the fire, issuing this statement. let's take a look. the election of donald trump, he