tv Cavuto Coast to Coast FOX Business January 5, 2017 12:00pm-2:01pm EST
demise of department store stocks, bricks and mortar had a bad holiday season. online sellers who took everything away. those department store stocks, way, way down. theme of the show. let's see waps time. my time is up and niel it's yours. neil: thank you very much, a lot of it might have to do not only to retail stocks that you were alluding to but rand paul. the kentucky republican senator and former presidential candidate has gone on record saying he will oppose this obamacare repeal effort on part of republicans, not so much that he's against repealing obamacare, he remains very much for repealing it but doesn't like the mechanism that university -- republicans are using. 9.7 trillion to our death.
all while wrapping up the freedom caucus. members were not overwhelmed by the message here because it looks like they're not on the same page. this is one guy n. the senate, that means to vote to repeal this effort is suddenly like a 54-47 versus 52-48 deal. so it's close with the numbers in the senate as close as they are. republicans cannot afford to lose anyone else. keep in mind, a number of republicans who specially the moderate ones who have have been alarmed by this growing debt and actually want everything to be revenue neutral in the end when it comes to tax cuts, that's the message of mitch mcconnell and any initiatives from the republican congress. this could complicate efforts to repeal obamacare. governor, very good to have you. this might be more --
>> thanks for having me on. neil: this more parliamentarian. what do you make of this? >> well, i think repeal is a good idea, this has been called the affordable care act but for arizona it's been anything but. we've got a premiums up 50% on average across the state. 100% in many places, we need to take care of what the replacement is but obamacare is not working. it's something that needs to be repealed. i do like what leader mccahy is doing. he's involving governors an reaching out and asking, and i know vice president elect pence knows as a former governor on how this is affecting the states. i'm hoping the governors will be at the table and repeal this and have a conversation of what replacement looks like. neil: if this were to somehow
fall through in the first go-around, conservatives to reject the efforts because of the means by which they're trying to reject obamacare, what then? >> well, obamacare has been a monumental failure and a rolling disaster, the law is collapsing under the weight of what it's putting on the state. rand paul can speak for himself. as for me, i think that this law should be repealed and governors and patients and doctors and all influencers should be at the table. what my advice to congress would be is to read the bill before you pass it this next time. health care has been in need of reform and i'm hopeful that arizona will have a place at the table to be a constructive part of the improvement. neil: you mentioned that they should repeal this and can understand given the position, triple digits, 116% in the
latest go-around, having said that, there's the issue of 20 plus million americans that now have insurance. what do you recommend republicans do? they do have alternative plans but haven't greed on one. >> i don't want to pull the rug out from any of our americans that have insurance or need insurance. i want to see affordable, accessible insurance for everyone, but before obamacare we had 20-plus providers in the state of arizona, now we have 14 counties in our state that only have one provider. so we need more market choice and competition, we should be able to buy insurance over state lines, we need flexibility at the state level so i think this idea of health care is something we've needed improvement on for sometime. i know we can do better than what we have in obamacare.
neil: i want to be clear, sir. you obviously are for repealing this. would you then wait to do anything else before -- part of repealing would cut those 20 million off, what would you urge republicans to keep the coverage for those people? >> i'm for repealing it and taking care with the replacement. repeal doesn't necessarily cut anyone off immediately. you can take some time, the advice to read the bill, to bring people to the table, to involve others, all the things that weren't done eight years. something that we want to be involved here in arizona, a large medicaid population, transition from a law that's not work to go a law that will work for our citizens. neil: governor, thank you for taking the time. we do appreciate it. i do want to remind you that speaker puil ryan told minutes
ago that he's very confident a measure to repeal and ultimately replace the affordable care act could be on donald trump's task by february 20th, one month after inauguration, he's still confident of that. no one asked specifically about rand paul. it's really parliamentarian maneuvers. what it means rand paul is against law, but will add more debt over the next ten years, that's why he's opposing. congressman from connecticut, he supports this law. what do you make of the latest developments? i know you're against on what the republicans are trying to do obviously. they are apparently running into
a potential road block on the means that they are trying to do it. >> niel, let me be clear about this, we have been hearing for a long time, repeal, repeal and then the republicans realized something a few years ago that if they repeal without alternative they throw 20 million off of insurance, if you have diabetes, skin cancer, they are unsurable. they talk about repeal and replace. now it's time to put up or shut up. i totally disagree with the governor of arizona, you can't repeal without -- neil: they seem to be guarantying. it's always in the eye of the beholder that they will not leave the 20 million stranded, this couldelay exact repeal date but would be pushed back and by that time -- there are
differences to your point but that they won't do that. do you not believe that in. >> if they can come up with a replacement that's better, more efficient that will cover more people that will bring costs down in the healthcare system, they will get my support. neil: eight years ago was democrats weren't all that eager to entertain republican ideas. you are open to do the same for them? >> yeah, that's a little bit of misstatement, i was here and i remember. the president worked hard on four or five republicans senators to alter this thing. neil: he didn't take either one of their ideas, state boundaries, he didn't take the ability to follow lawsuits off the table, all was nonstarter. >> let me be clear f the republicans come up with a plan better than what it exists to
it, i'm for it. neil: what do you need to get fixed? what would you address, what do you think is an area that you're open to fix? >> version 2.0 or next roll-out or initiative should really be about cost control because what obamacare achieved and i'm sorry this is a fact, it covered a whole lot of people who didn't have coverage before and it made for a better situation if you lose your job, preexisting condition. neil: what would you fix? >> what needs to happen is measures to keep the cost growth in the industry down. different delivery models, paying for actually good outcomes, open-minded about things like competition across state lines. there are good ideas out there. let's go back to what's being discussed today. we are going to repeal and we ve the vague notions, vague notions are not a plan. also import a good plan.
thhad seven years, seven years to produce a plan for somebody to think about and they produced exactly zero plan. neil: it's a little disingenuous. at least six, three quite seriously. now, i don't know the mechanisms by which things get done in the house or the senate. you're vastly more familiar than i am. it's not as if they were just lying about that. for whatever reason it never came to pass. but i do want -- here is my question is, i'm not clear, do you then support a measure that let's say calls for repeal of the way the law is now with a guaranty that the 20 million are protected and the forces are in place for preexisting conditions, keeping kids on policy a little longer, the kind of stuff that was very popular with both parties from the offset? >> you know, you're describing exactly what the president elect
said, i'm going to keep all the good parts that you described, we may disagree on what the bad parts are, if president-elect trump can come up with something that keeps all the good stuff and does away with the bad stuff, i will be in line about that. i happen to know about the industry that that's likely impossible. the fact that you haven't seen a comprehensive an, those are all ideas we should debate. a comprehensive plan that actually continues to cover people with preexisting conditions and increasing the number of americans with coverage. we have not seen anything like that. neil: let's sort of play this out, whether it's going to be done to budget resolution measure or some other mechanism, do you think that your party, the democrats will be open to seriously fixing this just as republicans say that they're open to repealing and replacing this where do you predicthis will ultimate i will go? >> many of us will be enthusiastic about fixing the
things that we know are a problem in the healthcare industry, some associated with obamacare. the fact that epipen costs thousands of dollars it's not an obamacare problem, it's a problem with the industry. if there's a plan that's going to throw millions of americans off of their own health insurance, that's not something we are going to go along with. by the way, most republicans will understand not just the human tragedy but the political catastrophe associated with doing so which why you're hearing all the plans, we are going to repeal and in three years we are going to go by and have replacement, that's a recipe for chaos and driven by the fact that don't have a plan to do that. neil: all right, very quickly. yesterday when democrats were pushing this reaction to the republican repeal efforts they said that this was about making america sick again. do you think that went too far? >> i think if you're talking about throwing 20 million people off of their health insurance,
if you're talking about taking away medicare expansion, provided coverage to millions of people who are our poorest people in the country and all of a sudden you are saying, that's going away, repeal means that's going away, there's no way people will be sicker, people will die. neil: but they're sicker now. seven of the top killer disease -- current despite the law. don't you think it's a tad disingenuous that erics are going to get sick again when mortality rate has been reversing anthe death rate from these diseases has been increasing? >> if you -- let's not get into individual diseases, there's a lot less heart disease, more dementia than there used to be. neil: heart-related disease deaths are up. again, i'm not blaming the law. what i'm blaming is extreme that both parties go including democrats yet with america sick
again, do you think that goes too far? >> it's sort of funny to hear opleaying that that's going a ttle too far when i remember just eight years ago that the affordable care act had death panels that was going to sent grandma to early grave. neil: i remember that i could still keep my doctor. >> we are talking about something much more serious, if people get thrown off health insurance, they will get sicker, there's no denying that. neil: we appreciate it. >> thank you, niel. neil: we are keeping on top of the development, it could be just me, folks, something very big going on here that could rupture the republican party here in rand paul who has been a big attacker of the affordable care act but cannot swallow the means by which republicans are trying to tear this thing apart, what the budget-watcher is
saying that not on my watch. i'm not going to dismantle this thing and have americans end up saddling it with more debt over the ten years to a budget resolution that's simply not going to work. now, that is what i think is part of the reasons why wall street is a little shaken and very much stirred, not exclusively this. you have the trouble with retailers, macy's cutting down a lot stores, i'm not dismissing any of that, i'm saying that republicans are stumbling out the gate and here is the problem, they're not all coming out the gate at the same time. we will very more your insurance company
espionage operations, leaking data stolen from the operations and targeting critical infrastructure systems. china cd continue cyber espionage against the u.s. government, our allies and u.s. companies. neil: director of national intelligence clapper with his view and has had view for sometime that the russians hacked the u.s. and not only in the election but doing so across of broad in a bipartisan hearing that was highlighted by democrats and republicans fingering the russians here. the only difference among some of the critics of mr. clapper has been whether it's just been the russians, others working in concert or whether the russian role is overstated. now, ethical hacker says that donald trump is right to question that part of all of this, very good to have you, sir. what do you make of what came of those hearings? you probably followed them closely.
but a lot of fingers point to russia. i guess the difference is the degree to which russia was involved on its own or with others. >> yeah, yeah, niel. really, the joint activity report, we are really looking to see what's going to be in there that's going to be direct evidence, what's going to release thus far really hasn't been more than baseless conjecture. they did say the white house was going to reemployees a more comprehensive report, but cybersecurity like myself are looking for technical detail to really point a direct finger at russia and we haven't seen that yet. as my background as an intelligence and we all know that russia has been hacking us and they have been carrying out attacks against us, but in this particular case, we really need to see some more hard and fact evidence. >> everyone questions donald trump for jumping into conclusions by assuming that russians might not have been the sole problem here.
i'm thinking of the president that kicked out 35 russian diplomats and we are learning he is now going to be briefed on all of this post the clapper testimony on the hill. so shouldn't he have at least waited to kick those diplomats out post this briefing that he's supposedly going to get today? >> it would have been prudent. wasn't thing we really have to look at here is this is one of those scenarios where we really have to make very strategic moves with regard to how we respond. if it is the fact that russia really did carry out these attacks as part of a very long and very persistent threat, then we really need to make our moves carefully and decide, make decisions that actually are based on fact and this is really one of those times where we are not sure that the white house has really done that. neil: well put. professor, all the smarty-pants stuff. good to have you, happy new year.
>> thanks, niel. neil: by now you have seen in every network there this live-streaming on facebook of a trump supporter getting beaten and abused. here is what i want to explore. this ran on facebook live for 30 minutes, even longer, is anyone paying attention to that, that a guy getting the you know what kicked out of him is streaming live on facebook for 30 minutes? it's not the first time it's happened. it keeps happening. on that, after this
urging attackers maybe this is going too far. it didn't go too far for 30 minutes before people pulled the plug on this and i'm not sure how the plug was ultimately pulled. i do know this is the fourth time that we have seen such incident, a beating or something brutal, killings live streamed in just the last, what, six or seven months. mark serrano, mark, what do you make of this? these facebook events, i could mention others. this happens after mark zuckerberg is going to be kicking off the 50-state tour, get in touch with folks. i'm thinking, you might want to get in touch with your own folks as to how this stuff happens. >> right. there's a corporate crisis unfolding right now and it's going to impact facebook from pr standpoint and policy
standpoint. forget your 50-state tour, get to chicago tomorrow, go meet with the police, meet with the family of the victim and the victim and address this through a press conference and talk about the other implication which is policy, first of all, there's business policies, there has to be community policing or some corporate policing, a facebook, might goodness, the broadcasting networks have to maintain standards, surely facebook can maintain standards as well. neil: we try to be on top of this. we have a billion users, something like that. it's impossible to keep track of what each and every one is doing. i understand some of that, but there must be systems in place that would avoid this sort of thing or it will be a terrorist field day. >> this is almost like the scandal for facebook, these types of things where we witness
through images and through video a crime that's taken place, where there's a will, there's a way. i know enough about technology to say that the algarythm methods can be applied or policing methods, they have the ability to be alerted when crimes are taking place live like we see. neil: they say no. believe me, i trust you on this stuff than my inside into this. this one blew my mind because it went on for half an hour. back in june of last year, antonio perkins, this was the chicago guy who was shot dea while live streaming video of himself in facebook, the diamond reynolds broadcast of live video of boyfriend.
i met with younger staff members who reminded me that if facebook account, you have -- you can hit a live button and you're streaming live to your friends or whomever and it could be quite a few friends at that. >> sure, if i was advising facebook, my advice is deal with the pr problem right away but you have to begin a process of examining business policies. guess what, if you don't, here is what you invite. you invite scrutiny from federal regulators. it's better to do something unilaterally, any corporation when they run into a crisis like this, instead of allowing regulators who have, you know, the motivation to start to take a look and scrutinize your business and your business principles and even the entire industry, i think they could be regulated if they don't act
unilaterally. neil: do you know how he feels about this stuff, the companies should be rained in or stupidly stumble into this kind of stuff? >> well, i can't say that i've spoken to the president elect, but i can tell you that for a man who was so masterfully utilized social media, he's a guy that's going to take a look at this and he will be a law and order president and he will reach out to a facebook to say, you have to police yourself before the government takes a look at this. so i really think donald trump would completely support that premise. neil: all right. always good seeing. happy new year. look forward to much more in the future, mark serrano. the dow has come off worst levels of the day. money always finds a place, right, it's not a place in bonds and it's then reflected in
mortgage rates, 340-year fixed rate -- 30-year fixed mortgage rate is now back under 4%. insting, more after this about your medicines, and ask if your heart is healthy enough forex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis.
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now here is what's on, senator paul also wants to repeal obamacare and replace it with something. here is the problem. he doesn't like the way republicans are going about it. part of the budget resolution that he says will add about 9.7 trillion to the debt and that's a bigger buga-boo for him. some of the colleagues like marco rubio of florida also a former presidential candidate, well, they're sort of swallowing hard on this, we don't like adding to the debt either but we understand the more immediate need to jump this thing, address the debt thing later. i'm cutting to the chase here. but the reason i mention it now is they've got a very thin margin in the senate. if 52 republicans and suddenly 51 republicans, then you don't have much margin of error and you add susan colins and other moderate republicans who have been expressing concern about,
you know, republicans going too far, expanding the deficit and the debt, you could have problems in this repeal effort, one of the reasons, not exclusively the only reason, trust me, one of the reason that is the dow has tumbled a bit, retail stocks not helping any in their soft holiday sales, i'm telling you, this is something to watch where the republicans could be stumbling out the gate. all right, meanwhile, you might want to get ready for a few other auto companies to set up shop here and expand here. michigan governor rick snyder is happy with ford's plan to do just that. >> would this have happened without donald trump? >> well, again, i think donald trump and his focus on progrowth really getting the economy going is a positive in that respect, but what i would say is we have natural competitive advantages in terms of, again, 75% of the research and development for the entire auto industry happens in michigan. we have a president elect
working with the state, working with all different levels, the local people were fabulous in terms of making this happen. this is how things should happen, as people partner together to create jobs in our country. neil: all right, so the governor hay with ford's pls to expand the facility there in his fine state that will have 700 new workers, 700 new jobs, all good. was it the threat of tariffs or threat of punishing companies that shifted those jobs overseas or in this case south of the border, the reason lauren. welcome both of you. is the threat good enough that donald trump is not had to act on that, he just raised it and it got ford to the table, might get gm to the table on other matters, what do you think? >> well, part of the thing is that some of the jobs were going to leave and there's a tariff in
place and manufacturers are very concerned, ford was first to jump on board, we want to work out a deal with you, we don't need more penalties, there's so much going on with national traffic safety administration and epa and impact on manufacturer, the last thing you want to be doing is putting yourself in a bad position which is what gm did the other day, we are going to build the chevy cruze in méxico. he's on an agenda and he will -- trump is going to do anything he can to get the jobs back here in the u.s. and put americans back to work. neil: some are telling niel, i like the idea of saving jobs, i don't like the means by which the esident isoing about it. what do you say? >> well, i like some of the ways he's going about it but i don't like all of the ways he's going about it. when he says to carrier, bare with me, i'm going to get in
here and deal with overregulation, overtaxation, give me sometime, i think that's great. when he starts getting into punitive language, i'm going to punish you, i think that's not so great. what's so -- neil: sorry to jump but to clarify. >> that's okay. neil: what are the languages that i'm not going to act on, i'm just going to threaten you like we do with the kids, i'm going to kick you out of the house and never let you back in, wait a minute, i already did that. what do you think? >> did you let them back in? neil: well, there is is that. >> don't make a threat that you're not willing to keep because it won't be worth anything. i can't imagine you kicking your kids out of the house anyway. neil: it would be like george jetson. jane, let me in. i'm a free marketeer.
now they're on the inside, where are they? why aren't we hearing from them? >> that's a very good point. >> start with people that have the same principles in power as out of power. that's a big question that i think -- i'm hearing nothing, i'm hearing silence from so many conservative advisers to the president elect. neil: lauren, you're nodding your head. >> i'm agreeing with him. i also think with the tariffs they are probably threats. what i see a bigger threat is the epa. scott pruitt is now going to be in charge of the epa and president obama decided to put a little wrench in the whole situation, they were going to evaluate corporate field economy, much larger impact and the penalties that can be enforced through the national highway safety administration and they're going opposing where
they used to be partners, so wait a minute, we are going to wait until the next administration before we impose penalties on those people who didn't comply in whatever area. on the epa side they're saying, wait a minute, we are going to make it where you have to make the corporate fuel economy at 54.5 miles of a gallon which manufacturers said we can't make that happen. there's a penalty where you always say, where does the money go, it goes to the general fund. if it went to road waist, different story. you and i know how the game works. what's left from the previous administrationhe will try make it very difficult for donald trump to make any changes that he would like to make and on top of that, president-elect trump said he's a big fan of fossil fuel. how is it going to impact the market when you're talking about tesla, apple, a googles' cars. everybody has autonomous cars.
neil: if you're a big governor of auto state, you don't care about those details. >> not yet. neil: thank you both. happy new year. i appreciate your insight. if you think about it, you had the lousy retail sales and macy's shutting down. all of these stores and then you had a weaker than expected private job's growth report and then to add insult to potentials news that rand paul who has been a critic for the affordable care act, he's against republican efforts to kill this thing. it's not that he doesn't agree with their goal, he doesn't like the way they're going about it. if this holds up and others follow rand paul and that majority is compromised in the senate, republicans have some problems on their hands. i'm telling you, big problems.
charlie gasporion after this you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here. legal help is here. but when we brought our daughter home, that was it. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how.
mean n the meantime president peña nieto said will help the group that's hardest hit including buses, taxi drivers, there's also an oil fire going on in the gulf of mexico and oil rig fire and that is pressuring things as well. we are seeing oil prices here at home hoferring -- hovering around 18-month highs. by the way, has gone up 34 or 35 days to 235 now and will hit investors' pockets
>> our members fully understand that. we have been planning for this for quite sometime and our numbers realize that. the full budget resolution, traditional budget resolution will occur this fall like it always does and our members understand this process. neil: one powerful republican senator does not. rand paul saying that whatever methods that are use to go try to repeal obamacare, he doesn't like the budget resolution, means they're going about to try to get that done, that it's going to add $9.7 trillion and that's not passing with the former presidential candidate and trying to let those in the freedom caucus know that. i don't know if he changed any minds, but that could be a
tempus in the teapot. dow down. look who is back from vacay. charlie. >> i worked out on the beach every day. neil: good to have you back, happy new year. you know, it's easy to sort of jump ugly on high expectations but they're not panning out so far. >> cutting tacks, regulations and all that and that's what raised the dow to close to 20,000. what's keeping it from hitting 20,000? every time it flirts with it, it goes back down. it's one of the things you see with rand paul. when you here from investors who are betting on this market, a lot has to be worked out, the market is pricing in the uncertainty, the uncertainty that they're talking is will there be a 15% corporate tax cut
or will it go down to 15 or go down to 25 from where it is now. when rubber meet it is road, mitch mcconnell and paul ryan are going to have a lot to say, they hate deficits. they also know that donald trump wants to do an infrastructure plan. that will add to the deficit, there's no doubt before any of this sort of demand side, stimulus kicks in from people working. you have to spend money. so they're also worrying about that. so they're talking about expectations. neil: this might have gotten ahead of itself, all great things happen. right now they -- we talk about 52.48 margin in the senate. that doesn give you a lot of wiggle room if one or two peel
f. >> i think it's different than that. i think it's the expectations because you have people like mcconnell and paul ryan who hate budget deficits, they are going to clamp down on all spending plans. you can't do a massive infrastructure program and lower corporate taxes of 15%, that's essentially what they're saying. >> is the market reading frustration that republicans are botching on the ethics thing and now potentially even repealing the health care? >> that's a political story and a really good political story that they came out of the gate looking hapless. it's factoring different things and what it's factoring is nective sentiment that everything what trump wanted would not get through republican congress that's heavy -- -- neil: i want to get you back. looks like goldman sachs. that's a whole other thing. we do have money pouring into bonds a little bit and enough to
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time ceo tim cook pushed back for what the company considered overreach, chilling breach of privacy that would make users less safe, apple showdown with the u.s. government and now their cooperation with the chinese government has some questioning their mives. jack gooldsmith tweeting this is the leverage over apple that 9 billion in apple revenue china brings in. when resists fbi demand to unlock iphone, expect statements like that here. new york times is asking appear toll reconsider but apple is standing by their decision saying because "the new york times" was in violation with local regulations, the app must be taken down. apple spokesman told us in a statement, when the situation changes the apple will once again offer new york times app. apple wouldn't tell them what local laws were broken or whether an official court order was presented, niel. neil: you know, do you know
whether apple has had to address how weird that part is, you know, they fought this sort of thing in the united states but folded like a cheap over there? >> apple has been tight-lip on that saying only that they broke local regulations and app had to be taken down and if they change things it'll be put online, but "the new york times" also is saying the timing of this is a little suspect because they just published a story less then a week later after the app was taken off the apple store that the chinese government gave billions of dollars in subsidies and pay-outs to the biggest iphone factory in china. perhaps they didn't like the story very much. apple isn't saying anything about that. neil: good stuff, hillary vaughn. >> thank you. neil: technology not having a great day either. if you're into bonds, maybe got
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neil: all right. here's the thing when you have a deficit and you have debt. it can rein in whatever you're looking to do either via more spending or more tax cutting and republicans through president-elect donald trump look to do a little bit of both. donald trump was very big on infrastructure spending, to the tune of a trillion dollars. a lot would be financed by taxdg tax money abroad. the details were kind of sketchy. he was looking for across the board tax cuts as well. that seems to have been sort of watered down of late, amid talk of anything and anything they're bandying a about, has to be revenue neutral.
keep hearing that expression, first advanced by mitch mcconnl, senate republican leader. you have much to say. added issue of rand paul, he wants to junk obamacare, he doesn't like the budget resolution means republicans are doing just that, because he is against it, because it will add to the deficit and debt. conservator commentator gina loudon and gerri willis. there could be problems. get it? >> look, this coalition of conservatives of the republicans very, very fragile. not only do you have senators saying look, i'm not going to support this but ted cruz and mike lee, look, we don't like the way it is being done. we could walk away at anytime. so you got to realize that the people standing behind the president-elect, it is a coalition of the unwilling in many cases.
it will be hard to keep them together. neil: gina, it is a box that republicans find themselves in. the argument there is something called dynamic accounting without getting too caught in the weeds here, so idea that tax cuts iparticular bring you some, you know, boom for the buck down the road. it is just short term they can make deficits worse. longer term though, the oomph from extra spending more than offsets but for the time-being not winning the day. what do you make of it? >> it is nice to hear a little built of restraint, right? when is the last time we heard our bureaucrats, neil, even discussing the concept of anything regarding restraint with our money. let's not forget this is our money. they seem to forget that regularly. i'm not lying you to say, when you sent me the topic i had to
read it several times to understand what the problem is, we're thinking, that we're just spending. we're trying to think of ways to make things revenue neutral and make things -- neil: do you apply, that gina tax cuts as well? do you put that in the same camp as spending? >> no. not at all. not at all. it isn't in the same camp as spending. i think that people need to look at the real numbers. and maybe learn to do a little bit of economics here and understand how our federal bureaucracy is used to functioning and they're a little tone deaf on these issues. the american people spoke in november. neil: danielle, what do you think here? if you subscribe view deficits are getting worse by sheer size, doing nothing they will get worse and debt will get bigger, then republicans are already locked themselves into a corner, right? >> they're facing a problem that i think was probably, is probably unprecedented. in trump's speech in gettysburg, his first 100 days he set out pretty forceful he will work on
infrastructure which will cost a trillion dollars. tax cuts which will reduce incoming money and lastly repeal of obamacare. the devil is in the details. what we're seeing real cost associated not only with obvious ones with tax cuts and infrastructure and repeal of obamacare. >> i don't agree with that. i got to tell you. neil: why not? >> look obamacare would drive the deficit on its own. it would drive spending, and it would drive debt. it is so expensive, the more people we're subsidizing more federal dollars going out. how many times do you think the federal government underestimates they're spending for something? it never happens. the idea that obamacare is pushing us into debt is, you know, really what is happening here. and to take it away is not going to be the problem at all. so i was confounded by his statement. look, this budget plan they're putting forward, you know, it is
a blueprint only. nobody is bound by the plan. nobody has to stick with it. so i think there is a little showboating going on early in the administration. neil: markets, there are other reasons, i want to vest that that the markets are confused. these markets got away ahead of them service, i would be first to say that after the trump election, then maybe reality is hitting here and tough to make this stuff happen. gina. >> neil, quickly if i add to this. we've got to get over this idea somehow that tax cuts cost money. tax cuts don'tost money. right? you -- neil: they do short term. >> on paper. neil: they do raise revenue down the road, initially, initially, they will make a deficit worse? >> make a deficit worse though is different than costing money. a lot of time democrats and big spenders want to put forth idea somehow tax cuts cost money when in fact they don't.
if you look what donald trump said he would do first 100 days, number one concern out from "politico," jobs, jobs, jobs. he has created more jobs than any other president. that is what the concern is and that is what he is focused on. neil: danielle, it is a little weird for democrats to found deficit and debt religion. >> this is historic context, the another point i want to make obamacare created jobs and helped poor people across the country and it is not just jobs in hospitals or health care or for doctor's offices and many other things. there was report out of michigan last couple days 30,000 jobs because of expansion of medicare in that state. more broadly, go back to the reagan years, we really started to to see deficits increasing and national debt. reagan tripled national debt and defense spending and other spending.
neil: irony was to though, daniel, republicans took all the money coming into washington and spent it, but the fact that revenue was coming into washington because of tax cuts. >> sure. my point more broadly we've seen exponential increase in the '80s through -- >> if we get real economic growth here, wouldn't that be a great thing? >> absoluty it would >> it would be a terrific thing. i think this idea we're going to support business instead of bashing it, we will be positive for people, out there, who want to make a success of themselves, by themselves, it rice little -- really the way to go. >> a lot of small businesses depend on markets created. children with preexisting conditions. small businesses doing their best and living the great american dream who benefited from many of the things. neil: we're a long way from done. this new congress is just started. some stumbles. we will keep tracking it all. ladies, thank you all. blake burman has more he details
on some of these back and forth insider struggles going on pretty much in that city. what's the latest, sir? reporter: neil, there was very interesting meeting here on capitol hill earlier this morning between rand paul, republican member of the senate, and members of the freedom caucus in the house. the conservati wing. inhe house. we're told that meeting, part of it at least, centered on obamacare, what to do the path going forward and one of those freedom caucus members described it as quote, an enlighting meeting. one of the reasons rand paul is an interesting figure in all of this, he penned an op-ed yesterday, look, repealing and replacing shouldn't happen separately as republican leadership should talk about you but it should happen together, or else he warned, quoting from the op-ed, partial repeal will only accelere the current chaos. yesterday, he actually had a friend over at the white house. >> you can understand why rand paul would have some
anxiety about this plan, about this strategy that is put forward by republicans, and the anxiety is palpable. reporter: meantime today the house, or the senate minority leader chuck schumer announcing that democrats want to see ethics investigation against tom price, current congressman but also nominee to lead the health and human services which would be also person in charge of repealing and replacing obamacare, or at least a portion of it. the thinking from democrats, they cite a "wall street journal" article, neil, says price was overseeing legislation that also dealt with stocks that he was actively trading. the trump transition team put out a statement team put out a statement calling that a stunt. neil? neil: blake burman, thank you very much. democratic senator joe manchin among others in the democratic party, they will do their best to work with republicans. what are your democratic colleagues think of you deciding
to meet with him rather than the president? >> well, you know, i just reached out. being bipartisan. the president could have reached out. and i'm sure republicans could have reached out to the president whether they met with him or not i can't answer that. i did what i thought i was supposed to do, basically start building relationships and bringing america together, not letting democrats and republicans stay apart. i told him my job is to find eight, 10 or 12 moderate democrats that will work with republicans trying to find a pathway forward. neil: all right. that is a democratic senator who thinks it's time that both sides come to agreement on this we talked to connecticut democratic congressman who is also in the camp, says i'm willing to work with republicans. of course the proof is in the so-called pudding, right? getting it and working it out and settling those differences because a lot of democrats were not happy with manchin skipping out with a pow wow with the
outgoing president, instead meeting with mike pence. neil: what do you think? >> his colleagues might not have been happy but i think his constituents in west virginia were, remember that is a red state. when you look at democrats reaching across the aisle i suspect, look at states that trump won and will be up in 2018. that is e basic politics of it. but it is also important in terms of policy. you remember back when president obama and democrats in charge passed obamacare with legislative gimmick, zero republican buy-in, conservatives warned that that meant that obamacare was very brittle, very fragile and may not outlast president obama's presidency. neil: so, what is going to happen here? if you've got rand paul, deficit hawk, saying this isn't adding up to me, i think he is on record saying he is not a big fan of obamacare. i think as well, what he is saying i'm not a fan of this
budget resolution measure, to do that, and to kill this thing? now there isn't much wiggle room in the senate. republicans have the lead. now that is down to 51 republicans, what do you think? >> right, right. chris collins, the republican from new york who is also a member of trump's transition team, he just came out today saying that he doesn't anticipate they will be even tackling obamacare this year 2017 or next, in 2018 because he said he doesn't want to pull the rug out from under people. i think there is a lot of wrangling, plotting, planning, strategizing going on. i can tell you mr. trump's pollster, john mclaughlin, he had a op-ed in "national review" warning mr. trump and republicans on capitol hill not to put obamacare first. that what voters really want is to get this economy revved and start creating jobs. he points to the democratic side of the aisle and chuck schumer
having warned, we did obamacare, and that was a huge mistake. neil: do you think that, you know, they stumbled out of the gate, they're new at this, haven't control of full sweep of government for this for quite a while and that certain of that, at of that is expected but that they is expected but they had their priorities screwed up going in. >> i don't know that they had their priorities screwed up. i think they're still debating, arguing what order they should be tackling all of this. they're getting advice from john mclaughlin, donald trump's pollster, saying let's hold off on obamacare. i agree with that. would give opportunity for republicans an democrat, just what that replacement plan would be. we're talking about 1/6 of the econom that is a really big job, the way obamacare got passed with nancy pelosi you have to pass it first before you know what is going to be in it, that was the
worst approach, the worst way to go. should move forward carefully. i also agree with mr. trump and incoming administration, republicans on capitol hill focus on the economy and jobs. you know, start getting people, putting them back to work again. putting part-time jobs, turning them into full-time jobs, setting policy that will put america in the right direction because a lot of americans, over majority feel we're going in the wrong direction. that would also lend a lot of goodwill, political goodwill for the really big task of reforming health care. neil: well-put, amy holmes, good seeing you again. happy new year. >> thank you, neil. happy new year. neil: want to pass along, stocks down, bonds up. national average up for 30 year fixed-rate mortgage, 4.5%. lending tree, big lender, quoting 3.92%, first time that happened under 4%, quoting lending tree. but the fact of the matter bonds
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neil: all right, looks like donald trump set his sights on another big auto manufacturer, talking about toyota. toyota will build a new plant in mexico to build corolla cars for the u.s. no way. or pay a big border tax. we'll talk about that, many times he zeroed in on a company, auto or otherwise, they have quickly done something to try to verse the bad press they get as a result. so we'll see if toyota is planning to do anything like that. it has a number of u.s. factories here, largely in theus a big one and in texas. but we'll keep an eye on that.
meanwhile nsa director mike rogers at this hearing today, this idea of not trusting our intel that is something that could come back to hurt us especially when it comes to the russians in role not only hacking the elections but so much more in recent years. to a capitol hill reporter. katie williams. what do you make of all these folks saying, surrounding notion of unequivocal prove of russian involvement where some republican questioners ceding to donald trump that it wasn't just russia? what was the result of all this? >> well the big question that is sort of holding up i think both lawmakers, and the president-elect himself is, really the question of motivation. most security experts who have looked at forensic date that that came out of the dnc hack have said, look, this was, this was pretty unequivocally russia. classified briefings by
intelligence officials to lawmakers appear to have convinced them of that as well but the ic reportedly believes that russia was explicitly intending to help donald trump. and that's a little bit of a politically explosive question. now, they have not made that, they have not made that public yet but you did see the director of national intelligence just this morning, hearing before the senate armed services committee, say in this report, that we are going to make an unclassified version of it public next week. we're going to ascribe motivation to russia. there is a big question whether or not they will will go on and say russia trying to help achieve donald trump for the white house. no, this is an attempt to sow uncertainty or the out come in specific way. neil: katie, right after they will brief the president on this, last week he went ahead and kicked out all of these russian diplomats or the week before.
did he act too soon, especially looks like russia might not have been the sole hacker? >> you're certainly seeing some lawmakers start to raise that question. there are others going the opposite direction. there are others like lindsey graham, who appear completely convinced by what the intelligence told them behind closed doors. he said obama didn't do enough. obama threw a pebble. i'm like of the mind to throw a rock. neil: donald trump is between a rock and a hard place, is he? >> it will be tough for the president-elect, it will be difficult for him to back up and say, yes, russia tried to help get me elected, because of course the big election, to what extent were they successful? that is something again you heard lawmakers really push on today, in this hearing. and the director of the national intelligence was very clear. that is not a question for the intelligence community to
answer. there is no way we can discern how successful they ultimately were if in fact their goal was to help donald trump get elected. neil: good stuff. katie bo williams. thank you very much. >> thank you, neil. neil: katie was laying it out there. if you think about it, republicans divided on degree russians were involved in our elections last year. certainly not on the same page as their president-elect. you've got rand paul bolting on obamacare nixing thing because he thinks it will add to the deficit and the debt. you have republicans still chafing how they handled the whole ethical thing and whether they would rein in a committee devoted to doing just that i think there is trouble here. i think it is being reflected in the dow, more after this.
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company that wants to look at either kurt tilling activity in the u.s., shifting jobs abroad. toyota the latest target of donald trump on twitter. could be facing a big border tax if it starts building a new motor plant in baja, mexico, to build the corolla. it is looking for very productive relationships with the incoming administration. this comes before this latest news. congressman emanuel cleaver, democrat, fine state of missouri. congressman, so much to talk about. what do you make of the approach donald trump takes to those manufacturers that want to move jobs overseas or cut back on the number of jobs here? >> well, so far, some of his efforts to reverse decisions made by corporations seemingly are working.
i mean, but, i would much rather have a policy as opposed to a tweet. here's the other side of it though, and i think the president, president-elect needs to think about. when i was mayor of kansas city, i came in and i said, hey, look, we have all the contracts we're giving from the municipal government to companies in the suburbs of kansas city, missouri, even over in kansas city, kansas and overland park. we establish a policy only give jobs with preference to people in kansas city. it wasn't long before the suburban communities said if you do that we will retaliate. we'll not give contracts to people from kansas city, even if they come in lower. so there's a price to pay, if we are aren't very, very careful. neil: i know you have, many in the congressional black caucus are express reservations about donald trump. i believe you were quoted as saying this is not the normal incoming president. we had no plan for george bush. i think charlie wrangle that
they didn't have a plan for richard nixon. this is the not norm. he is couple weeks becoming next president of the united states. are you over that or still concd abouit? >> well i'm still concerned abou. i wrotan op-ed that appeared couple weeks ago in the usa today, in which i talked about the things we would not do. i certainly as a individual member of congress would not do, to the incoming president. things that, were done to the his predecessor. but i think that, the president could go a long way in terms of working with all of the elements in congress, including the congressional black caucus, if he did one thing right at the beginning. that is if he offered, i think a sincere apology to the president for having been the architect of this obama is a foreigner -- neil: the whole birthing issue. he said he wasn't the genesis
for that. we can debate this ad nauseum. seeing that is unlikely -- >> yes it is unlikely. neil: do you think he is racist? >> i don't know donald trump. he never met him. never seen him. difficult for me, i refuse to do it. i don't think you are. i think people with whom i have some interaction i can, you know, make a decision. i don't know donald trump at all. i have seen him one time. neil: many in your caucus, sir, they do, they seem to think he is. short of that apology to barack obama, and "birther" thing and seeing that is unlikely, how could he reach out to guys like you, to the caucus, like some of them, have expressed concern about reversing inroads and legislation under this president, under the next president? >> well, the, one thing i think is extremely important is that he needs to be a little careful
on how he reaches out to minority communities. i mean for example, when donald trump reached out to the minority communities after the election, he reached out to a rapper, kanye west, and don king, controversial boxing promoter. i mean, you know, he didn't reach out to justin bieber when he wanted to talk to other folks or the kardashians. neil: probably a good reason not to even try with the kardashians, right? it is just aadhow. let me ask you real quick, i know your time is rushed, sir. there is effort to really go after jeff sessions right now, the president's choice to be attorney general, and going back 30 plus years, to seek out proof that he was racist, or said racist things. is that productive do you think? >> well, i'm not sure. i listened to some people who had interaction with him back in the day like john lewis. neil: right. >> and many of those people are,
extremely skeptical about him. neil: to apply that to him now, like apply to steve bannon, the chief white house strategist, is that, is that wise? >> well, i don't know. i have not gotten into it, primary because the house is not involved in the confirmation process. neil: that's true. >> so i haven't got -- neil: steve bannon, he doesn't need approval from anyone. jeff sessions would. even though you don't vote on this matter, do you think jeff sessions would make a good attorney general? >> i never even met him. i know nothing about him except what i heard. we're not involved in the confirmation process. i have not even read anything. but, if i can, neil. let me just say, one thing. congressional black caucus has had, as its motto, since 1972, that we have no permanent ends,
no permanent enemies, only permanent interests. donald trump ought to exploit that. he could exploit that by, you know working with us. if he came up with something that was of great value to the country as a whole, and maybe the urban core in particular, it wouldn't matter what the democratic leadership said, we would work with donald trump. i mean that is, we're not going to just automatically declare that we're not going to work with him. my op ed in the "usa today" declared such. neil: indeed, it did. emanuel cleaver, always good having you on. >> good to be with you. neil: happy new year. representative emanuel cleaver, a key figure in all of this. minister by training as well. maybe that can keep calm and friction away. i know andrew napolitano might not be a minister but he is a brilliant legal mind and he will weigh in on how donald trump and
exactly from goldman, but a wall street lawyer in the mold of harvey pitt who represented bold man plenty of times in what is interesting, neil, what his agenda will be when he becomes securities & exchange commission, wall street's top cop in the trump administration. he is donald trump, announced yesterday, his pick to lead the sec, i guess you say put this as a positive markets story, in this sense. sources telling fox business network that clayton focus largely on sarbanes-oxley law, interesting, not dodd-frank and impact on crushing capital formation. this is what he will look at, and this is a key story in wall street past year and over the years since sarbanes-oxley have passed, many, many ipos of small companies have gone by the wayside. small to mid-sized companies are not issuing ipos, if they grow massively before they go public to get capital to expand. that is a problem.
sarbanes-oxley requirements do that. all legal requirements forcing companies basically not to go public. we understand, as clayton understands this. he had a bird's-eye view because he was representing companies as a private attorney. what we understand he will eyeing changes to sarbox and other laws to increase capital formation for small and mid-sized businesses of the with all the negative stuff and people worried about donald trump, scaling back his corporate tax cut, from not to 15%, but maybe 25% from its current levels, this is a good thing. and this will certainly help the markets and help small businesses and helps the economy if that is what he does. we are looking at sarbox mainly in terms of reforming it so small companies, mid-sized companies get better access to the ipo market. neil: sarbanes-oxley, a financial fix-up, they want to fix up all over again. thank you my friend. >> anytime. neil: we're getting word that
those chicago facebook attackers who they apparent identified are going to be charged with a hate crime. judge andrew napolitano on all that and so much more. happy new year. what do you think of this. >> oh gosh, i have a variety of thoughts, one of course that the behavior was deviant and repellant and highly criminal, disgusting and difficult to look at. the other, you haven'teany prominent democrat or anybody from the left complaining about what happened, because this was an act of some sort of a political revenge on a person who was mentally-challenged forcing him to say things negative about donald trump. so this is -- neil: flipped around the other way i wonder how that would have been? >> good question. this is a classic definition of a hate crime, physical violence motivated by the victim, hatred of the victim or somebody not presence on the scene, in this case donald trump. it shows danger of what is
punishing hatred, what we describe as hatred the left think is normal and acceptable if the object of the hatred is president-elect and two weeks the president of the united states and that is repellant. neil: this is a dumb question i have for the role facebook played here. this was playing live stream for 30 minutes or more, right? it is the fifth time in as many months something heinous, live has happened, a live stream on facebook. people getting killed and beaten, what have you. is there any culpability there? >> the law is clear that there is not. there may be a movement to try and bring about culpability, but it is no more, facebook is no more liable for streaming this than fox would be liable if we saw it on streets and filmed it or one of our reporters was there and described it as it was happening. i know the arguments, it may encourage copycats. neil: we could put things on delay if it looks dicey.
doesn't always work. >>s we know,s obviouy was not on delay. the only good from facebook is enabled police to find the people. it exacerbate and misery and horror and terror on this person. neil: can we rein it in. >> know. in my view when you begin wearing away at parameters of free speech, you don't know where the wearing away is going to end. neil: you've met with the president-elect, right? >> yes. neil: and you've known him for many years. is it any different now when you see him? >> no, exempt that when you call him, mr. president, three or four times in a row, when there was a time used call him by his first name, will you stop calling me mr. president. i can't go back to call you donald. i wish my wife had as much
respect. he is sharp at a tack. has a lot of things going on and will surprise people how much he knows about the government. his enemies will underestimate him. neil: some of the most successful presidents have that ability. >> yes. neil: judge, thank you very much. happy new year. >> happy new year to your family. neil: i like to embarassment. he is a like a big cheese. powerful people love to meet with him. i know the people that run tad's steakhouse. more after this.
>> hi, i'm jeff flock in frigid chicago on state street, talking retail with the fox business brief. that is the old marshall fields store, now macy's. i remember when they bought this to increase, macy's did, their brick-and-mortar footprint. now macy's announcing the closure of 68 stores nationwide. 10,000 jobs total to be lost. stock in macy's today, way down, well over 10% today, and down for the year as well. stock in amazon, way up for the year. why? well amazon today, announcing that it will open it as own bricks and mortar bookstore, another one. they have got three already. another one, this one at columbus circle in new york. the changing retail landscape in america. as sirens wail here in chicago, i'm jeff flock with the fox business brief. neil back with "coast to coast" in just a moment. stay tuned.
neil: big news today, donald trump might be two weeks away from becoming the next president of the united states but stumbling out the gate for the 11 5th congress especially trouble in the republican ranks when it comes to legislative priorities. the ethics was one thing and concern over rand paul who is no fan of obamacare but doesn't
like the way republicans are considering torpedoing it with a budget resolution that will add to the deficit and debt. i want to know what that means with california republican darrell issa. congressman, welcome. is this a significant dell haven't in i know -- development and i know you're on the house side, when he met with the republican caucus we shouldn't do anything by any measure that should make our debt and deficit worse. do you agree with that. >> no, i don't. budget reconciliation is really only tool allow this to be undone. having said that if the democrats want to play ball, we certainly could pass additional measures, interim measures that would have one or two or three-year life th would reinstate certain things immediately but that would take cooperatn because as you know, in the senate, except for reconciliation, there are very few times which you can get to a vote without 60 votes, meaning
democrats have to cooperate, and right now they have made it clear with the president, that they're not going to do that. neil: are you worried though, that, it is going to be tougher than thought to repeal the health care you law, especially when you have those who are going to be sticklers about this, like rand paul, whatever you think of the guy, who are going to say, there has to be another way to do it? as far as i could see, congressman, this is the way republicans want to do it? >> well,his is the only tool that we have. it happens to be the exact same tool that created it. that would clearly be constitutional. wouldn't have to go through a challenge. but having said that, rand paul is a friend of mine. i like him a lot. i always feel the contrarian needs to be listened to. do we have challenge in that what obamacare really was, was a huge expansion of medicaid, paid for at the federal level and not particularly shared by the states, yeah, we do. and there is going to be a lot of transition and i'm hoping
that the democrats are not going to continue to fight what could be a win-win, one in which we actually lower cost of health care, and retain the best parts, if you will of some of the aspects of the affordable care act like, portability of your health care. neil: real quickly, i'm worried that i don't hear much more talk of tax cuts anymore, at least big ones, or am i just imagining that? >> well, you know, if you say it loudly enough you will get a tweet from president-elect. the fact he is committed to lowering corporate tax rate so we repatriate money and we stop exporting jobs. neil: i know where he is coming from but i'm getting the sense with mitch mcconnell, and i notice the other body, even lesser degree with speaker ryan, don't go too crazy here. am i getting that right? >> let's remember, tax reform there's two parts. there is the part that directly relates to bringing jobs back to america. and that is the part we all agree on.
then there is the broader, we want to have lower taxes. i served during george w. bush. we did get lower taxes but we didn't get ultimately with we wanted which was a really vibrant economy. for people on both sides t common ground do things that create jobs now, do that first, and then let's figure out if we can in fact make a flatter, fairer tax which might take a little more time to do. it might take a the before economy to p for it. neil: that is very interesting. kong nan, great to see you. happy new year. >> happy new year. neil: a little bit after tweet storm between donald trump and toyota. those shares are down slightly now after donald trump was saying about those mexico plans of yours, adios amigo. introducing conduent. one of the largest business process companies in the world. whether it's in health care, customer care, technology,
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>> i'm liz claman, live at the consumer electronics show 2017. a huge record-breaking crowd they're expecting here. look at all these people and what a difference 50 years make. look at the retro pictures from 50 years ago, 1967, where they had speakers with the walnut siding. so much has changed. 177,000 people are expected, to see what gauge gets and gizmos, the viewer will be buying in the future. neil, this one screamed cavuto. this is called the instar view fridge by lg. look at this door. call it the knock-knock fridge. it says welcome, fox business network. but instead of peering in like i know you did the other night to see if the six-day old spaghetti growing fur if you take a bite. you don't want to show it. don't want to open to let all the air out. tap on this the fridge door becomes transparent.
look what is in there, neil, cookie dough. this is just for you. lg fridge, 4500 bucks. but the pasta in your refrigerator says neil cavuto on it. this way you don't have to open it to let all the cold air out the fridge. 3: p.m., neil, "first on fox business" iervi barry diller. oversubscribed keynote speech. digital and positive as we know talking about the horrible facebook streaming story. the dark side. we'll talk to barry diller. live from the consumer electronics show, back to you. neil: the refrigerator is 4500 bucks? >> yeah. you but look, all that you get. knock knock fridge. neil: right. >> yeah, your cookie dough. what more could you want. neil: there you go. liz, thaw very, very much. liz claman in a little over an hour now. look at corner of wall and broad, what is going on here. a lot of crosscurrents here and
for the next hour, a very wise man, happened the same day. all free on basic cable. ashley: no more laughter. the battle over obamacare intensifying today, democrats accusing trump of wanting to make america sick again. republicans say obama care has been nothing but a disaster and it is time to break the broken system. i am ashley webster in for trish reagan and welcome to "the intelligence report". republicans have started dismantling obamacare and bow it will happen this year. paul ryan assuring americans it will be a smooth transition and not to listen to the scare tactics from the left. >>