tv The Intelligence Report With Trish Regan FOX Business December 2, 2016 2:00pm-3:01pm EST
. neil: all right, the dow down about 38 points. been a good week and nice run since the election. now if steve ballmer is right, we're putting off serious discussions, both parties are. see how that pans out. whistling past the graveyard, his take on that. trish regan, to you. trish: i really enjoyed that interview with steve. that's great. neil: he's an interesting guy. trish: i love how he said you got to deliver on the personality, people come, want to hear you speak and you got to offer something. neil: his annual meetings were like rock star events. he got people into it. trish: terrific stuff. thank you so much. jobs, jobs, jobs, the topic of the day. donald trump says jobs are his number one priority now. will his policies get america back to work? and will they get america back to work fast enough? i'm trish regan, welcome, everyone, to "the intelligence report". president-elect donald trump isn't in office yet but out there trying to save jobs and saving jobs that might
otherwise have been moving overseas and threatening companies who try to send jobs overseas. watch him here. >> and i'm asking all companies to keep their jobs in america, and we will work to make america a better environment for workers and businesses and we will crack down on all foreign trade abuses that undermine your ability and your company's ability to compete. those days are over when those companies are going to leave. trish: wow, you know what? we are going to need those jobs, folks, today we got yet again disappointing jobs numbers, the economy added 178,000 jobs last month, but they are mostly part-time jobs. so you get the unemployment rate falling to 4.6%, looks good, right? lowest level in nine years. here's the thing, that numbers, it only drops because people have altogether given up
looking for jobs. the labor force participation rate, the number that shows how many people are working, it dropped to 62.7%, and wages also fell, wages fell last month. ouch. with a new sheriff in town next month, could america start winning again joining me jamie foster, and former member of trump's hispanic advisory committee steve cortes. steve, starting with you here, you're a big trump supporter but i want to be realistic in terms of timing. how long is it going to take him to get through the policies he wants like lower taxes and less regulation and then how long are the policies going to take to filter into the overall economy. >> trish, that's a very fair question and caution trump partisans and i'm certainly one of them, caution them this won't happen overnight. we're in a systemic downturn in many industries particularly the manufacturing and that's
the most problematic area of the labor market. it won't turn around quickly. on the optimistic side, here's what matters and you and i talked about this on air, as much as the policies matter, and they're crucial, we need deregulation, lower taxes, get to facilitating businesses not fight it. as important as those are, the psychology is equally as important. what we're seeing in america is resurgence in optimism. we saw the recent consumer confidence survey. if we see that at the executive level and the seasuites, there is a lot more hiring in investment. trish: i think you're going to see it, i talk to ceo's all the time. for eight years i heard my goodness, this president is anti-business and really making it difficult for us to foresee the future, and we are not out there investing money in new plants. we're not investing, et cetera, because we don't know what the payoff is going to be or not to
be. j.d., you're at the chamber of commerce, give me your thoughts where we are and heading right now? >> well, the labor market is growing, as you noted. it was a standard report for this president, are in year, for that matter. job growth, but not super strong job growth. a few weaknesses here and there. labor market seems to be doing better than the rest of the economy. they're out of sync for the moment. trish: if you believe it. reason you saw 4.6% unemployment, which is darn good headline numbers, guess what? those are part-time jobs. when you're asked in the phone survey and people are saying are you looking for work? you say no. because i got a part-time job, that is reflected in that improved number. the other thing is the labor force participation rate, a lot of people have given up. >> right, and you're getting to the basic point. that's all from the household survey and every once in a while, the household survey
kicks out anomalous results. we're going to see the unemployment rate, it would be nice if it stayed where it is. it doesn't rely on the underlying strength of the economy. trish: this is an important thing, oftentimes, the unemployment rate does go up as the economy starts to improve, and the reason for that is, sir? >> well -- trish: over to steve for a moment here. >> yeah, no, you make a great point, paradoxically it would be a good thing for that rate to tick up a little bit. we don't want it to soar. unemployment rate to tick up. it would convince people to come back in the workforce. we have 95 million working age americans who are not in the labor force. i think tens of millions of them potentially would get back in the labor force if they were so motivated. they saw enough opportunity to get back in the labor force, by the way, that's a large country in and of itself in america. we're roughly 300 million
people, 100 million too young or too old to work. that's unsustainable long-term but thank goodness, i don't want to curse the darkness, we lit a candle this election, and i believe that's donald trump, and the kind of policies he's going to repatriate capital from abroad, that is the quickest boost to capital investment and hiring people companies bring millions of people by profits that are not trapped by our tax dollars. trish: it could be a huge boost, you are absolutely right, and there is this optimism we haven't seen for a while. let me talk about the caveats. j.d., people are concerned about the potential for 35% tax on tariffs on goods coming to the u.s. steve, you are concerned about it and don't think that's the way we need to go. lower taxes, j.d., how concerned are you about potential tariffs? >> here's the deal. you can protect u.s. economy, you can make it stronger, want companies to come into the u.s. by making the u.s. a better
place to do business, that's what mr. trump has spent his time talking about. lower regulations, rule of law, stable prices, lower, sensible tax rates. if you do those things, companies want to stay here, you're not going to need tariffs which are self-destructive, have you what you need, which is a good environment, companies want to come to the united states. what we've had for the last eight years is a set of policies out of this president that have wanted to drive companies away. regulation and tax above all, and then when the companies did actually finally have to give up and leave, they imposed separate taxes on them. it didn't work. trish: we can all agree, part of making america great again is making america competitive again, and you do that with the policies. j.d. and steve, thank you so much, good to see you guys. i want to get to my next guest who's been working at carrier, the air-conditioning company in the news this week, for 24 years, he was on the verge of losing his job.
but thanks to our president-elect, 1100 carrier jobs, including his, that were slated to move to mexico, are going to stay right in indiana. to share his story, i'm joined by robin maynard. robin, good to have you here. how are you feeling right now? >> pretty excited. knowing that i have a job for the future and able to possibly retire someday from carrier. you know, probably in about 10 or 12 years now. trish: yeah, but you know, it must be a little nice and early christmas present for. >> you correct. trish: knowing that basically your job was going to be gone, right? >> it was going to be gone, but thanks to president-elect donald trump and vice president-elect mike pence, working diligently with carrier corporate office people, they were able to come to an agreement pretty quickly and save 1100 of the jobs. trish: robin, what are your
co-workers saying to you right now? what's everybody saying? what's the buzz at the carrier plant and donald trump was of course, just there? >> they were really excited to see him show up yesterday, when we were in the room with he was being -- making his announcement. he was taking his through the factory, we could hear the other carrier workers out on the plant floor that didn't get the chance to come into the room hooting and hollering for him, they were excited to see him show up and stuff. trish: are you excited that there's a possibility to do this in more places than just yours? >> yes, i am. and i believe that president-elect trump is, you know, i think he's putting the hammer down and trying to keep the jobs in the united states as much as possible, and because we don't want our jobs to go across seas to mexico or
china and stuff, where some of the other factories are heading, and we want the american jobs to be here and american-made products. trish: did you vote for him, robin? >> yes, ma'am, di. trish: and i imagine you are happy right now. >> yes, ma'am, i am. trish: congratulations, we're so happy you're going to be able to continue on there. >> thank you. trish: the death toll, turning to this story, rising to 13 in the devastating fires in tennessee as rescuers continue to search for the missing more than 700 homes and businesses have been destroyed. in popular tourist towns like pigeon forge, authorities believe the fires were started by humans. the fires are in the worst of the -- they have turned out to be the worst the area has seen in more than 100 years. all right, the media bashing trump's cabinet picks and get this, suggesting that because the cabinet picks are wealthy,
they're basically just going to stick it to the middle class. you know, let me just ask you one thing here, first of all, what's so wrong with being successful? didn't donald trump prove you can be really successful and go onto hopefully do great things in government? we'll see. we're going to talk about that, next.
and take a look at this one here, this political article with the headline trump's team of gazillionaires. donald trump campaign as a champion of the forgotten man political rights and won the white house among his support of the white working class. so far stacking administration with masters of the universe. it's a bad thing that men and women have worked hard and been successful and made a lot of money? rich joins me with more. rich, i don't understand when they're complaining about, don't you want talented, successful people that aren't beholden to the lobbyists in washington helping you out? >> well, of course, this isn't the way the media look at the world. i went back to 2008 when president obama or president-elect obama was picking people with careers in government, life long elected officials and the media were
drooling over those pix. george stephanopoulos said we hadn't assembled that much star power and brain power in our lifetimes. president-elect trump is picking people with actual success, they're not wealthy by chance, because they're successful. you think they want to bring the success and track record into government you. >> know what the media, i think, gets really wrong is americans don't resent well. we don't resent success. the fact that donald trump was elected, the wealthiest man to ever run for office, that shows you americans, they want to relate to the person. if they feel they relate to the person, the person is intelligent and can put the right things, persons in place, et cetera, they don't care how much wealth they have. >> of course not. this is where the whole liberal nature sif challenged by the trump election. i mean if the idea is the more government topdown can sort of bring people up by leveling equality through government
action, it would have worked by now. trish: i love it, think about obama, right? president obama, have you all the academics that went to work for his administration, people that have never had this real world experience, they think about this in theory terms only, and i think it's dangerous, frankly. when people haven't had the experience of having to meet a payroll or having to deal with the red tape and regulation when you want to start something new. >> right, and opening it up so the free enterprise system can work, you know, then people at the bottom start to go up the rungs of the economic ladder, people at the top will do well as well, but nobody at the bottom is going to resent someone who's rich because they're richer, they want to be able to see their own path for advancement. that's been blocked by too much government. if it opens up, they're going to cheer this, not resent it. trish: i think you are absolutely right. quickly, bit of a double standard? you think clinton had reuben as treasury secretary, former
goldman sachs guy who did well himself. not as though other democratic administrations haven't had their share of wealthy people, too. >> that's right, penny pritzker, the secretary of commerce is worth $2 billion. there are all kinds of them in the administration. it's not a big issue for them, only for this administration. trish: we're going to go indepth on this and more when i co-host "wall street week". take a quick look at the preview. >> i think it's great he has successful businessmen rather than politicians in his cabinet. trish: but the media is saying drain the swamp and suddenly putting in the billionaires that may have wall street and big corporations, interest at heart. that's their take on it. what are they missing, joe? >> i think they're missing that real life experience is much better than life long politicians and steve mnuchin talked about gdp growth.
when they talk now, they have everything planned, i like that they have a concrete plan in place. trish: watch that tonight on fox business starting at 8:00 p.m. eastern. i will see you there. in the meantime, you got donald trump at trump tower meeting with former u.n. ambassador john bolton. you know him well. he's a frequent guest on this program as well as democratic senator heidi heitkamp to potentially be his top aides. we've got the latest on cabinet picks where he may or may not stand on mitt romney and the surprise announcement in ohio. stay with me. i'm back in two. all you do is press this, and in plain english, "coolant", you'll know what's wrong. if you do need a mechanic, just press this. "thank you for calling hum." and if you really need help, help can find you, automatically, 24/7. because you put this, in here. hum by verizon. the technology designed to make your car
. trish: president-elect donald trump returning to the style that helped him win the election, a roaring rally thanking supporters for propelling him into victory. >> that person was saying for months there's no way donald trump can break the blue wall, right? we didn't break it, we shattered that sucker. [ cheers ] >> shattered it. i'm asking to you believe in america once again. we have many challenges. but this is truly an exciting time to be alive. trish: you know, he also made a surprise announcement. watch this one. >> we are going to appoint "mad dog" mattis -- [cheers] as our secretary of defense. but we're not announcing it until monday. so don't tell anybody! mad dog. he's great.
trish: i guess he just couldn't help himself. leaking there he's going to be appointing mattis, today he's back at work at trump tower for a series of meetings that include former u.n. ambassador john bolton and heidi heitkamp from north dakota. this will be big if he recruits a democratic senator into the white house. blake burman is here in new york and he joins me with more on all of it. hey, blake. >> reporter: hi there, trish, we were there last night too in cincinnati, ohio. it was something else. you played a little bit of it. not so much a casual friday at trump tower, considering the rapid pace of announcements coming out of here the last four days or so. five different cabinet positions alone this week. little slower pace on this day at least but there are high-profile meetings, you just went through a couple of them a little while ago, to mention another one, robert gates who was a major player not only within president obama's white house but bush 43.
that white house. he was here at trump tower speaking with the president-elect but two other meetings of note today, that being the former u.n. ambassador john bolton here at trump tower. he is believed to be one of the four or potentially five finalists for the secretary of state roll and also heidi heitkamp, a democratic senator you mentioned, she would be the second democratic member from capitol hill to come to new york to meet with the president-elect. there was one announcement today, though, that certainly drew eyes and that was the gathering of a group that the president-elect is calling his strategic and policy forum that he says will meet come february at the white house and will do so frequently. he says bringing together some of the best and brightest minds and among that group, some of the biggest names here on wall street. that being steve schwartzman, he'll be the one chairing that group. schwartzman from blackstone,
larry fink among that group, so too jamie dimon, the head man at jpmorgan chase. major ceo's as well, bob iger from disney, mary barra from gm, they'll be meeting with the president-elect, trish, starting next month, or two months from now, once he assumes the role of the white house. we expect potentially more major announcements next week but you just played some of that last night. he announced it last night. trish: it's a stellar group, and jack welch the former head of ge is in there, it is an impressive group, and the other thing i want to point out is this group of ceos and former ceos, blake, crosses party lines. larry fink, for example. >> reporter: right, yeah, you've got republicans on here, democrats on here, this is part of the point that the president-elect was trying to make last night, that he says he wants to bring the country together, unify the country. interesting who's not on the list, trish, that would be gary
cohn of goldman sachs, the coo who has been here speaking with the president-elect. rumored to potentially hold some sort of formal role, not on this list, could that be a precursor to what might come. trish: very interesting, blake burman, you will stay on it. thank you very much. take a look at this here, this is the band guns n' roses, performing in mexico city, and they paused their concert so fans could eat on a donald trump pinata. unbelievable. really pretty unbelievable. you probably don't listen to them anyway. donald trump poking fun at hillary clinton as their campaign aides get into unprecedented shouting match at postelection forum about the election. boy did it get heated.
clinton's aides couldn't stop pointing blame on their candidate for her loss. they're blaming everything, like racism and james comey for her loss. when will they ever face reality? we got it next. >> although we did have a lot of fun fighting hillary, didn't we? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card.
although we do have a lot of fun fighting hillary don't we? trish: he just couldn't resist. he was there in ohio last night. but that little jab it was nothing compared to the showdown that you sought between the two campaigns at a postelection event at harvard. watch it. don't act as if you have some popular mandate for your message. will talk about the wrong track number just like you and i did. more americans abroad for hillary clinton the donald trump. speemac you've lost 60 congressional seats.
if you go back to the wrong track number. that's how you win the presidency and we did it. i want to share one more sound clip. this is the killer here. i would rather lose than when the weight you did. do you think i ran a campaign like that. do you think this woman was nothing in common actually one. how about this nobody on her
campaign wants to admit that they actually have a bad candidate. she needed to be out there. communicating. they are risking losing their jobs. good to have both of you guys here. you are one of them here. they keep blaming all the outside factors. will you personally try to think about the direction of the party. i can be in the state of denial but clinton herself. i think it would be wrongheaded and i think it will be wrong. there was a reason why. but let's be clear there are a lot of other it's donald trump's campaign and the willingness to play pussy with
this group. the rest of them there at harvard last night. i think at some point you have to say to yourself we show any interest. they seem to have one nothing. it always is. that's what trump was able to do was appeal to the american worker. it is not my chance that 68 million union workers who voted once or twice for obama
ended up voting for trump. the identity politics as i can work for them moving forward. where can a double down on this. he gives you more of an opportunity. >> let's be really clear here. about 80,000 votes across the three states. three states. yet we won the popular vote by 2.5 million. i have learned something. the same way that republicans responded to barack obama. in doing as much is we can to halt what donald trump is saying. were you interested in the
well-being of americans. we thought obama care was devastating to the american people. and i think that is what mike pence is saying. the agenda will be bad for america. the thing that they have also done he's fighting for the american worker. is actually fighting for the american worker. he has a majority. i am a business voter. i spent them listening to both sides of the aisle the ceos that they could not plan for the future because of obama's economic policy. they feel like they have some certainty. less regulation. that is what is good. now they have the opportunity.
you will move more more more people. they're very symptomatic of others. they identify what trump entered the policies that he wants to put in place. how do you salvage them. i think we do what we been wanting to do for a very long time which is run on up positive economic agenda that will work for the middle class and not this agenda that donald trump is setting up which is a 1%. they have their jobs saved. i think you would beg to differ. he has definitely proven that he has been the president for the american worker. in the first six months of the presidency.
you will see a lot of tax reform. we will see how that benefits the real workers. i do get well. and then i'm i'm just going back to econ 101. donald trump everybody promising to make america great again. infrastructure. even take a look at this ice rink and think about it and whether or not it's any indication as to whether or not easy to easily be able to get other stuff done. he built ahead of schedule below budget because the city spent 15 million bucks. they can get it done. why it may be up to the business person entrepreneur to finally get it up and working again. we will find out next.
>> on infrastructure we will build new roads. including major projects in the inner cities there is such potential and inner-city. we are not using our potential. >> given a preview of the 1 trillion-dollar structure plan. in america wants it. check this out. a new gala ball says that 75 percent of people say they agree with the proposal and only 11% disagree. perhaps that is because they're hoping donald trump can do for infrastructure what he did for the rolling rink way back when. the kids love it. and it was all because of donald tmp.
this thing got remade. it's been six years and $13 million. trying to build the rink. donald trump managed to do it. he did ahead of schedule and under budget. you probably heard him talk about it. and figure out whether he can apply the same principles as it private entrepreneurs. a little bit better getting stuff done. private and business and private entrepreneurs are better at it. and government has been hobbled over the years of regulation regulation and lawsuits and things like that.
it's not just republican or present elected donald trump that same saying there's people like larry summers when you can do something about it. they are held up by environmental impact statements and lawsuits and things like that. full of power in common good. it has been held up for eight years they been talking about raising it. to accommodate the new supertankers that can make their way through the widened panama call now. has him been raised in eight years. i hear you. how does this change now.
they can pass a new law that changes that. these previous requirements for environmental impact statements the previous lawsuits they're gone. we are abolishing them. there's nothing in the constitution that says you have to have environmental impact statements. you can say to the bureaucrats. if six months to prepare an environmental impact statement. if you don't prepare it. the project goes ahead. trish: e look at the cabinet right now. you see a lot of people in there that come from the private rule --dash macworld. there can have commerce secretary. they are people that have been very successful in their own right. and they have not gone through that traditional political path. how much of a difference difference does that make. and given the well of the people.
they have done that work for their shareholders. and by invite restructuring companies and changing the rules -- rules. that's been a focus you on infrastructure projects that the people need. we don't want to be canada. canada is great. they are paying it. for the new bridge across. thank you so much. working to take a quick break. we will be right back into minutes. looking for a medicare prescription drug plan
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donald trump at trump tower today meeting with democratic senator heidi high camp. they are panicking over this one. they are terrified of the prospect that she might join his cabinet and will forfeit the senate seat which well likely go to the republican. they are rumored to be up for the department of energy posts. they just told us yesterday that he is i cannot take that job. donald trump taking james mattis. he will be the first career officer to lead. joining me right now is former treasury secretary good to see you again. first who well it will be reassuring to our allies and terrify our enemies.
we had been talking to iran and doing everything we can to keep this deal that they have. he was actually let go for refusing to hold of that line. i think what were gonna see in israel there can be reassured that american foreign policy foreign-policy is can we back on track. exactly. i think the thing when you talk about marine veterans about that pic. a lot of them are saying if we need to move across the country and we have an opportunity with that nickname. it is the philosopher warrior. he's very will read. with the influence they have. the great thing i like about him at a certain point if you
think he has exhausted every other thing on annihilation. that's one thing i think is can be very interesting. he knows what's going on. he knows the nuances of these things. but he's not afraid to say fine, if we can't have a conversation. checking is a frequent guest on this show. he was originally offered at the position and declined to take it and recommended general matus got the job. it might be a potential member of the trump cabinet. this is little skill he -- scary to some. are you with me. they're so freaked out about this one. at the republican a republican governor in north dakota.
the seat is vacated. i would assume. until the 2018 elections you want another republican senator. i guess the question is what is a likelihood that she would take it. it would be a very tough reelection for her. trump won north dakota by double digits. maybe even 30 points. they want to get things done. they ran the energy business before this. she acts as a republican and business but when it comes to the energy she acts like that.
you open up the seat. and it's diverse. he has a lot of the women actually. that's one thing i have noticed. he will put a lot of women in big places. they talk about that. they helped offer the 911 bill. it who was challenged with intelligence. there is a lot of incredibly talented republican and democratic women. we will take a quick break. 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, a different kind of medicine for moderate
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did you see our ratings. we are killing the competition. we will send it over to ashley webster. the conversation never ends. the future commander-in-chief is hard at work. the hot topic. we have seen a steady stream of a national defense experts. smile, wave to the reporters and say nothing. there are meetings for president-elect donald trump. robert gates. the former un ambassador.