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tv   After the Bell  FOX Business  January 27, 2017 4:00pm-5:01pm EST

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to consumer. with home depot a lot of heavy equipment gets bought at home depot. [closing bell rings] liz: david smith, thank you. rockland trust. down five. nasdaq, that looks like a record. david,heryl, thanks. david: we'll take it. >> dow fighting for gains in last moment of trading. nasdaq pulling through, closing at a new record high. there are the numbers. dow down nine. s&p as well. nasdaq up five. i'm cheryl casone in for melissa francis today. david: i'm david asman. happy friday. this is "after the bell." thanks so much for coming. we have you covered on big market movers. here is what else we have for you. it will be a very busy breaking hour. president trump making his first official visit to the pentagon. along with vice president mike pence will participate in a formal swearing-in of defense secretary james mattis. we're set up with the cameras,
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as soon as they come in for that swearing-in. shortly after the ceremony president trump is expected to sign up to three new executive actions. a white house official telling fox news that one of those orders will limit the flow of refugees into the united states, resulting in what the president calls, the extreme vetting of immigrant. later this hour lieutenant colonel oliver north will be here to respond to all of this. cheryl: we have a busy show. get back to the markets. you have a new record close for the nasdaq but the dow snapping that two-day record streak at the close. a down day for the dow. still settling above that historic 20,000 mark we hit earlier this week. phil flynn, price futures and fox business contributor watching action in oil and gold from the cme for us. adam shapiro, on the floor of the new york stock exchange. adam, let's first start with you. big movers today. >> there were very big movers today let's talk about some
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winners on the dow and s&p 500. boeing up 5%. "wall street journal" market group says a lot of rise in the dow this week you can attribute 20% of that to boeing. up, up and away with the airplane maker. microsoft we saw a great earnings beat yesterday. they were up 5%. caterpillar is up anywhere from 500 billion to a trillion dollars in infrastructure spending, that is what president trump wants. s&p 500, winners seagate technology up 22%. united rentals, nn resorts, americans want to go on vacation and wynn resorts and royal caribbean. it is up 11%. peso gain ad little strength against the u.s. dollar. donald trump, the president toning it down a bit with the mexican president. people seem to be a little bit relieved by that peso gained against the dollar. back to you. cheryl: when you see you dow 20,000, time for a little vacation. adam, thank you.
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oil and goldening in the red. is the trump effect on the commodity space, phil? >> i don't think so. i think trump effect on commodities is bullish in the new year. what we saw with consumer confidence today, highest level in a very long time. people are pumped. oil prices were down a little bit today because of concerns about more production in the u.s. but that's a donald trump thing. more u.s. production. that's a good thing. gold is down because the dollar was strong. listen to this, this year we're expected to sell more cars in the united states than ever before, 17.6 million cars in 2017. that is huge. that is more demand in the united states. that is a long-time bullish story. oil was up from the week. it pulled down a little bit. you know what? it looked very good for oil in the new year. melissa: demand and domestic production, i like it, phil flynn, thank you very much. david: earlier today, the first world leader to get right down to business, uk prime minister
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theresa may meeting with president trump with high hopes for a trade renaissance between the u.s. and britain. >> trade between our two countries is already worth over 150 billion-pound a year. u.s. is single biggest source of inward invest into the uk. together we have around one trillion dollars invested in each other's economies. i'm convinced a trade deal between the u.s. and uk is in the national interest of both countries and will cement a crucial relationship that exists between us, particularly as the uk leaves the european union and reaches out to the world. david: joining me now is "barron's" senior editor jack hough, former massachusetts senator and fox news contributor scott brown. scott, what i love about this, this is driving the naysayers nuts. all the folks say he is all talk, no action. this guy is nothing but action. today we saw it could happen on the trade front as well. what impressed me most was the style. he was crisp. he was to the point.
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he didn't take a minute longer -- there was no academic just going on and on as we had in the past administration. he just got right to it. >> and that's why i and others like me and endorsed and supported donald trump this is the donald trump i know. he is all business. a good listener and knows what he want to get done and actually goes and does it. david, how about this, the fact an elected official made campaign promises and actually doing it. i thought it was a great meeting. it is good for both countries. it is only the beginning of more types of meetings and relationships like that. david: jack, on the other hand, if you want to start with an easy one you can't get easier than the uk. we love each other. we have this long traditional relationship. when it comes down to countries that we got to deal with, all bilateral trades, no more multi-country trade deals, there with 100 countries we have to make deals with, that will be tough. >> it will be tough.
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i don't know how you revive the rust belt with china and mexico. david: hold on. we don't he a trade war yet. jack, i covered mexico for 12 years. they need us so much more than we need them. >> our exports to mexico doubled over the 12 years. we import a lost intermediary goods we use to cell overseas. we want to be careful about picking trade wars. morgan stanley predicts on trade will speak loudly and carry a small stick. david: i don't see a trade war yet. we'll see. cheryl: other issues you have to address here. president trump might have high hopes for trade between the u.s. and the uk but he is taking a very hard-line stance on negotiations with mexico. listen to this. >> as you know mexico with the united states has outnegotiated us and beat us to a pulp. they made us look foolish. we have a trade deficit of
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$60 billion. cheryl: as stocks whose services much-needed in the building of that border wall between the two countries are on a tear since the election. jack, you can't deny there is excitement among wall street investors and i'm sure it is happening at the company level, concrete companies and steel we could see another boost to our economy by building this wall, do you agree with that. >> no, the wall is ridiculous idea. investors are excited definitely. there are good things going on with steel. cracking down on the chinese dumping and so forth. i'm all for infrastructure, think about a wall, we had outward migration to mexico recent years. you build the wall, you trap more illegal mexicans in the country. what do you think will happen when you crater mexico's economy? you're going to increase illegal immigration from mexico. melissa: illegal immigration, jack, will strengthen when the u.s. economies strengthens and jobs for those illegal mexicans coming overboarder.
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saw that in the housing boom in early 2000s and '90s. i'm sorry that is exactly what happened. scott on other issue when it comes to the wall. u.s. chamber says that we could lose up to 6 million jobs here at home because of that wall being built. that is another argument, another side of that. do you think that is real concern? >> obviously we need to fix our immigration. if we need seasonal workers let's get that done. jack, i love you man, with all due respect the wall is not crazy. the wall is absolutely appropriate and i think absolutely needed. if you ask general kelly who is the head of southcom he recognized a long time we have criminal and potentially terrorist elements coming through. we need to fix the borders and immigration laws. why it so critical that the democratic party actually join forces come up with really positive, logical solutions in this regard. cheryl: i got to say i love jack too, scott. to you, david.
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david: renaissance of american businessman continues pays. president trump enlisting porful ceos, manufacturing initiative set to revive the middle class and create explosion of new jobs. jack, all business people, but most interesting, elon musk, he did not disguise his dislike for donald trump during the campaign. donald trump vice versas without government subsidies they wouldn't do well, now apparently they're getting along just dandy, what is up with that? >> they have a business to run. as long as we talk about cutting needless regulation, slashing run away corporate taxes i can definitely get down with ideas like. i think business leaders on both sides of the aisle can. there is low-hanging fruit for sure. david: scott, a lot of people wondering about the elon musk thing. this meeting meeting that ivankd jared kushner had dinner with tim cook from apple.
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which is a good thing. lisa jackson was there, the epa chief, during the obama administration. some people are wondering whether the trump family is getting wobbly on certain issues. >> no. they're actually quite the opposite. they're reaching out to anybody and everybody to get good input. they're great listeners. i think it is fantastic not only ivanka and jared getting involved but president is having small, these business initiatives. i'm hopeful he has a cybersecurity initiative. that he has a small business initiative. that he has a medical reform initiative. i hope he continues on bringing more and more people in. that is why i endorsed him because i know for a fact he is a good learner and good listener. david: senator, before we go, we have a meeting at the pentagon. you're a military man. what do you think will happen over the next couple years with regard to our war against terrorism as we get ready to swear in the next defense secretary? >> i served 35 years, last four
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at pentagon working for one of the joint chiefs. general mattis is obviously a legend. he will be so well-respected. a great shot in the arm. morale will go through the roof. to take the have the ability to get good direction and allow leaders give gooadvice and followed by the commander-in-chief is fantastic. i'm excited. i wish i was still in. david: you can still get in. jack, scott, thank you very much. >> i can't. those days are over. see you in a little bit. david: we have to tell you about the historic week for the market and right here on "after the bell." when the dow hit 20 k on wednesday, more of you actually watched us at 4:00 p.m. than any other business news program. swept the guys at cnbc on both overall and demos. demos are the young folks advertisers love, so of course we love them too. thanks to all of you fortuning in. no matter what your age we couldn't have done it without you. thanks to all of you.
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cheryl: i was watching at home. david: it was fun stuff. cheryl: it was great and a fun show. david: thank you. cheryl: we'll bring you back to breaking news out of the pentagon. at any moment retired four-star marine general james "mad dog" mattis will be sworn in as the new secretary of defense. he expressed opinions in opposition to president trump like mattis's concerns about threats from russia and the country's president vladmir putin. mattis we should say plans to continue the u.s. bond with nato. that is the organization that president trump called at one point obsolete. here is the question, how will mattis's relationship with trump unfold? can they agree to disagree on some things? here to weigh in, institute for study of war naval analyst chris harmer. we wait to see the swearing-in ceremony begin for james mattis he is really the man of the hour but man of the week. nato is a group that
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donald trump says he has doubts about. mattis really affirmed he believes nato is intact and our relationship with nato continue to be strong. who wins on this one? >> i don't think it's a win-lose situation. i think what general mattis, we should call secretary mattis. he spent the last week doing reaching out to nato allies, reassuring them the commitment united states has to nato, to atlantic alliance goes beyond any specific administration. there is a lot of verbal chaos in this electionransion particularly, what general mattis h done he cut through the verbal chaos and reached out to civilian department with our allies throughout nato. united states military has deep commitment with nato. we have 70 year history. secretary mattis described that as the most successful alliance in history. we reaffirmed the commitment. when you cut through all the
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verbal chaos, cut through the facts of the case. united states and nato alliance is strong as it ever has been and general mattis will strengthen it. melissa: what we'll witness live on our televisions he believes strongly in the military. he wants to see the military strengthened and built up. what do you think of building financial support in particular with the fight against isis? >> your budget is your policy. when you cut through all the rhetoric all the chaos, how the nation allocates its funding towards the military, that determines what our policy options are. we spent the last eight years gradually decreasing expenditure for the department of defense. the u.s. navy at its numerically
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smallest point since well before world war ii. all services are hurting in terms of readiness. all the services are hurting in teams of materiel readiness. they need to increase end strength. cut through all that. united states, taxpayers need to allocate more money to department of defense or significantly reduce our commitments. secretary mattis, hard to break the habit calling me general mattis, secretary mattis will cut the verbal chaos, telling congress, look if you want to follow up rhetoric and international commitments you want to write the check toward the bottom line otherwise it is empty talk. future, blocobsolescence ofthe u.s. navy ballistic missile submarines. we need to buy 12 brand new ballistic submarines over next 12 to 15 years. that will cost us $100 billion. those are the fights. if you want a sea-based nuclear
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deterrence, that is the price tag. cheryl: that will be the question mark, in particular with isis, is it by land or by sea, are perfect terms. chris i want to let you know, let our viewers know we're expecting at any moment for general mattis to come in and we'll have the swearing-in ceremony any moment. president trump is there, as well as vice president mike pence as well for the ceremony. chris i have to let you know i may have to interrupt you at any moment. >> absolutely. cheryl: ask you a about torture. on campaign trail we had a bit of a flip-flop with donald trump. he said he was okay with torture. recently this week he said he wasn't so much. general mattis doesn't believe in torture. seems to us from the rhetoric and language and attitude from donald trump this week in particular when he sat down with sean hannity he would take general, now soon to be secretary mattis's direction on the issue of torture. torture internationally is against the law. where do you think this alphas
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alphas -- all falls in the grand scheme of thing. >> in heat of things people would accept torture under very specific circumstances. when you look at mack coperspective, what we get out of torture is so small and cost we pay is so high. we lose international moral standing. we lose cooperation with our alliances. we put it into the narrative pitched by both eyes sis and al qaeda of america's neocolonial empire. under specific circumstances we might get a small amount of actionable intelligence out of the use of torture i think over the long term we lose so much more. most military leadership, secretary mattis include has come out against that. nobody in the united states who suffered more torture than senator john mccain. seven year as the hanoi hilton. kept two years in isolation. he is adamantly begins the use of torture, they never got anything useful out of him until
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well after the expiration date on what he knew. i think the way that this is going to shake out, i think most strategists like me come down on this side, you might get something good out of torture but you lose so much more it is not worth it. i want to answer a question -- david: chris, bench you go back, let me press on that for a second because of course the interesting tinge the president says he is favor of waterboarding. he doesn't call waterboarding torture. you kind of conflate the two and i know other people do as well. legal scholars are still sort of split on that issue, but he said even though he believes waterboarding should be used and has been successfully used in the past, that he will defer to general mattis and to the other generals. do you think he will stick with that? >> i certainly hope so because we've learned these lessons over decades of experience. there is a sort of gray area what everyone would consider torture around what we refer to -- david: waterboarding, let's specifically talk waterboarding.
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water bothering apparently we got information out of klm, khalid sheikh mohammed, led to the capture and killing, at least killing of osama bin laden, that's a good thing, right? >> that is a good thing. we refer to enhanced interrogation techniques. waterboarding some people say it is torture. other people say it isn't. i was waterboarded as part of my training. i had it under my control. david: a lot of marines have. >> i know there was start date and end date. davi wouldn't be surprised general mattis we're about to see was waterboarded. that is part of training for a lost marines. >> it is part of training for a lot of infantrymen and pilots. anybody in a position they might get captured. we go through training program. it is under controlled conditions. i don't want to compare what i went through to actual enhanced interrogation techniques. the point there is a gray area. congress needs to step in to define what is and is not against the law. a lot of people,
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well-intentioned patetry tick americans working for the cia and other intelligence agencies. they were told to use enhanced interrogation techniques and after change of administration they were threatened with prosecution. david: that is interesting point, whether lawyers running wars in the future. going back to george w. bush, when the lawyers prevented him from taking certain actions that might have killed osama bin laden years ago, shortly after 9/11, are we entering a new era where that might not happen now? we're in fact looking i believe i see donald trump our president in that room. go ahead and answer the question quickly. >> we don't want lawyers determining how we fight wars. the way around that for congress to stand up to its constitutional responsibility and define separation of powers and what is and is not legal. you don't have lawyers running the war. american people rough elected representatives, telling the executive branch how to rua war. that constitutionally appropriate way to run the war
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and gives us maximum flexibility. cheryl: while we await to see president trump and vice president mike pence and general mattis walk into the hall of heroes, that is a live picture you're looking at the screen as we await the three men to enter the room, this is the swearing-in ceremony for general mattis, i want to bring in former massachusetts senator scott brown, a fox news contributor and switching gears with you, scott, something we talk about extensively in the mornings together, this issue with russia. we're expecting a call from president donald trump and empty vladmir empty -- president vladmir putin. general mattis has cautionary approach to russia particularly their involvement with the war on sir why. this is again something where donald trump says he will listen to the advice of a secretary of defense but this is a very big divide between the two men, scott. >> well of course. the president is the president. he takes his marching orders from probably no one except his
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wife and family. obviously i'm joking. secretary mattis works for the president. i think it is appropriate to certainly open up the channels of communication with russia, with china, to try to make sure we can normalize relationships in some way, take pressure down. cheryl: but general mattis though, he wants to deal with the issue of syria and assad. we believe that right now within the pentagon, within the defense department they are actually coming up with proposals to take to president trump. general mattis will be the one, secretary mattis, when he is sworn in will be the one to deliver those proposals to donald trump. how can you, at one point go into syria, try to fight isis but also maintain a new buddy-buddy relationship with the russians? i don't see how the go men agree on this strategy? >> that is the real challenge. here's the problem, had we done something when president obama drew the red line, we wouldn't be in the situation. it is completely convoluted and
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exceedingly complicated right now. so you've nailed it. what are they going to do? obviously it will be kind of, you have to move a couple steps forward, a couple steps back. bottom line, yep mattis is obviously a living legend. he knows this stuff. president trump will listen to his leaders and i find that very, very refreshing because it doesn't work in the lasted a administration for the last eight years. david: well, we have another legend besides general mattis joining us now, lieutenant colonel oliver north. , also a former marine. he would like to always have a camouflage uniform. >> always a marine. >> that's right. thank you, senator. david: there are a lot of things that general mattis has said that we can't report here. he is famous for quotes, lot of them are pretty salty. we can report, no war is over until the enemy says it's over. we may think it over, we may declare it over but in fact the
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enemy gets a vote. when i read that quote from general mattis i think of the obama administration. as soon as they came into office, the wars are over, we won, we can pull our troops out. they did. we got into a lot of trust as a result of that particularly iraq and syria mentioned from time to time. this administration seems it is more committed to the mattis view of the world, as long as the enemy is causing trouble the war is on, right? >> well, that's true. again the enemy not only has a vote but has bullets. in this case bullets, knives, all the ways which they murdered people. one of the things we're about to learn i think after the ceremonial swearing-in, general mattis already has been at work since last weekend. he was sworn in as secretary of defense by vice president pence. they spent entire weekend at work. i happen to know this, as you know i've known jim mattis for a long time. he was one of my lieutenants, 43 years ago when i first met him. he wasn't known as mad dog.
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he has always been known as the warrior monk. he is studious and well-read. one of his quotes, here is another one, the most important space on battlefield is the space between your ears. in other words, think. he is saying that his quality as a leader and reader and a thinker and pressing for subordinates for input, his loyalty, this man is a who understands the word, semper ser fidelis, you know from your son and i grew up with, that is more than a slogan. a way of life for jim mattis. david. for those that don't know it means always faithful. >> they live that. if president of united states gives him guidance do it this way he will do it this way. the correct terminology is not enhanced interrogation, it is coercive interrogation. as several guests points out i
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used to teach this stuff. i used to waterboard them. put them in hot boxes. threaten them with poisonous snakes. cheryl: does it work, colonel. >> we're talking about training people versus them, they know we're not going to kill them. we're trying to familiarize them ways you can resist. sears stands for survive, evade, resist and escape. that training help them survive and hopefully escape. the idea we would do those kinds of things to people was never torture until 2015 when congress passed the law. now i could tell you this. neither jim mattis nor mike pompeo as director of central intelligence agency are going to break the law around the president knows that. i think quite frankly we in the media have been making way too much of this issue just like we're making way too much of some other issues. this president has toned down his rhetoric enormously in the last five days. i've watched these last five
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days, been on edge of it, periphery of it. i see is what is happening. he is paying attention to his subordinates. david: colonel, more than paying attention, he said today specifically that the he will defer to general mattis and his other generals when it comes to interrogation means. >> because they will not break the law, exactly right, david. one of the things the senate of the united states needs to do right away get confirmation done on the secretary of state, because he is part of that national security apparatus we desperately got to have. as someone pointed out to cheryl, idea what to do about isis and what we'll do about russia are much on the table. they have to be on top of this conversation that he will have with putin. cheryl: how much gentlemen, do we spend? that is the bigger question here. i want to take that back to chris. donald trump is committed to
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being fiscally responsible president who wants to make deals. i believe we're seeing action in the hall of heroes. we might looking at the entrance of general mattis in just a few moments. we're watching this. chris, really quick, back to you, as we see these gentlemen standing to get ready, the issue of with the fighter jets. fights with boeing and lockheed martin, taking these ceos, major companies saying you better give me a better deal, air force one or the f-35. that strong-arming is working. but general mattis may go back, chris, wait a minute i need $100 billion to build 15 new submarines. i need $60 million for a new jet. those two may disagree on that issue as well and financing of all of this? >> there may be some disagreements there. that is part of the process, allocation process, part of the budget process. ultimately congress passes a budget. president signs it. departme of defense execute it. i don't think the disagreements internally need to reduce our
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ability to execute a budget and a strategy. the point i wanted to make earlier, we tried to fight isis on cheap last five years. never a single supplemental appropriation. cheryl: president obama didn't want to fight isis. he wanted to let the europeans deal with it. he had no interest getting involved, even hillary clinton at one point as secretary of state wanted to get more involved in the fight against isis. sorry, go ahead. >> that former president obama referred to isis as the jv team. that could not be further from the truth. they are the olympic dream team of terrorists. isis a what al qaeda inspired to be. isis is like al qaeda, except for radicalized and violent and vicious and more attractive gathering recruits. even if we defeat them as state based entity they refer back to terrorist form. the first step state side tell the american people look, we need to focus on the fight against isis. what we're driving towards is
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the unconditional surrender, in this case the extermination -- david: one of the focuses, or two of the focuses of that fight are being signed in form of executive orders shortly. we're getting word from sean spicer, executive orders will include rebuilding armed forces and extreme wetting of refugees coming into the country. scott brown, i think the country is ready for that extreme vetting. that was parofhe reason donald trump won the election, because they were worried that what happened in europe too many radicalized refugees causing trouble in europe that could happen here. >> of course that could happen here, and that is part of the problem in germany. you see what is happening, through other parts of europe. president doesn't want it to happen here. god bless him. they are not coming over to build a house with white picket fence. they're come back to -- david: scott you may have heard in the background from hall of heroes the announce meant that the president of the united states and secretary of defense
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james mattis will be joining us right now. >> ladies and gentlemen, the president and vice president of the united states. >> good afternoon. you may be seated. mr. president, chairman dunford, members of the joint chiefs of staff, leadership of the department of defense, men and women of our armed forces, distinguished guests. thank you for being here today for the ceremonial swearing-in of general james mattis at the 26th secretary of twins of the united states of america. it is a high honor for me to be with you today. you look around this rm, we
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stand in a place of honor, the hall of heroes. the names of 3498 american patriots are inscribed on these walls. each of them performed personal acts of valor above and beyond the call of duty, and received the medal of honor as a consequence. it is humbling for us to be among their names and to be with all of you. secretary mattis, is soon to mark his 50th anniversary in the service of this country. during more than four decades in uniform secretary mattis commanded marines at all levels, from an infantry rifle platoon to a marine expeditionary force. he led an infantry battalion in iraq in 1991, expeditionary brigade in afghanistan after the 9/11 terrorist attack. went on to lead the first marine expeditionary force, u.s.
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marines forces and central command. as a joint force commander secretary mattis commanded u.s. joint forces command, nato supreme allied command for transformation and u.s. central command. at u.s. central command directed military operation of 200,000 soldiers, sailors, airmen, coast guardsmen and marines and allied forces across the middle east. and now, mr. secretary, your president has called you to lead all of the armed forces of the united states. he and i have the highest faith in your judgment, your courage, and your dead cancation to this nation. -- dedication to this nation. on behalf of president trump it is my great privilege to administer to you the oath of office. if you please place your left hand on the bible. raise your right hand and repeat after me. i, james norman mattis do solemnly swear.
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>> i james, norman mattis do solemnly swear. >> that i will support and defend the constitution of united states. >> that i will support and defend the constitutn of the united states. >> against all enemies foreign and domestic. >> against all enemies foreign and domestic. >> i will bear truth faith and allegiance to the same. >> that i will bear truth faith allegiance to the same. >> that i take this obligation freely. >> that i take this obligation really. >> without any mental reservation for purpose of evasion. >> without any mental reservation or purpose of evasion. >> that i will well and faithfully discharge the duties. >> that i will well and faithfully discharge the duties. >> of the upon which i'm about toent. >> of the office upon which i am about to enter. >> so help me god. >> so help me god. [applause]
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>> thank you, mr. vice president and mr. president. thank you very much for your confidence in me and welcome to the headquarters of your military. your always loyal military where america's awesome determination to defend ourself is on full display. i would just tell you that you've made clear, mr. president, your commitment to a strong national defense and the americans honored in this hall remind us aa the streng of as nation of patriots. on behalf of our department, after more than a decade of war, our longest war, those serving today have been tested and you can count on us all the way. we're grateful for you being here, for showing your respect for us on a day when former secretary of defense bill cohen, former deputy secretary rudy deleone are here. this is reminder that this
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department stands in perpetuity, as the defender, sentinels and guardians of the nation. thank you for your confidence in my, mr. president. >> total confidence. [applause] >> and that's total confidence, believe me. i would like to first congratulate general james mattis, now secretary mattis. secretary mattis has devoted his life to serving his country. he's a man of honor, a man of devotion and a man of total action. he likes action. he is the right man at the right time and he will do us all very, very proud. i am honored to stand hereamong so many patriots. you are the back.of this country. you are the spirit of this nation in every sense. the men and women of the united
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states military are the greatest force for justice and peace and goodness that have ever walked the face of this earth. your legacy exists everywhere in the world today, where people are more free, more prosperous and more secure because of the united states of america. and you have earned and insured for our children the glorious birthright of freedom, bestowed upon us by god. we stand today in the hall of heroes, great heroes, a testament to the undying courage of those who wear our nation's uniform and who have received the highest distinction, the medal of honor. this is a sacred hall, the soul of our nation lives between these walls.
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these walls tell the story of those intrepid americans who gave everything, risked everything and fought with everything they had to save their fellow warriors and warriors they are, believe me. warriors they are. and to save our wondrous liberties and to save this god-blessed land. they shed their blood and poured out of love from their hearts to protect our home. we in awe of their valor, tremendous valor, and we pledge our dedication to every single family serving our country and our flag. that is why today i am signing two executive actions to ensure the sacrifices of our military are supported by the actions of our government. and they will always be
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supported by the actions of our government, believe me. first i'm signing an executive action to begin a great rebuilding of the armed services of the united states. developing a plan for new planes, new ships, new resources, and new tools for our men and women in uniform. and i'm very proud to be doing that. [applause] i think congress will be very happy to see it. our military strength will be questioned by no one but neither will our dedication to peace. we do want peace. secondly i'm establishing new vetting measures to keep radical
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islamic terrorists out of the united states of america. we don't want them here. we want to insure that we are not admitting into our country the very threats our soldiers are fighting overseas. we only want to admit those into our country who will support our country and love, deeply our people. we will never forget the lessons of 9/11, nor the heroes who lost their lives at the pentagon. they were the best of us. we will honor them not only with our words but with our actions. that's what we're doing today. i am privileged to be here with you. and i promise that our administration will always have your back. we will always be with you. [applause] and i just want to thank you
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very much. i want to extend a very special congratulations to a great man be and that is secretary mattis. and i think he is going to lead us so brilliantly. he is a tremendous soldier, always has been. he is a general's general. every general i spoke to, i won't say they all said he is our favorite but they did. he's our favorite. he is a special, special man. so i want to bless him and god bless you and god bless america. and secretary mattis, i have no doubt you're going to do an outstanding job and thank you very much for accepting this responsibility. thank you. [applause]
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david: well there it is, the president of the united states and the vice president and the new secretary of defense, james mattis. we still have our panel as president signs executive orders. he usually talks about this. let's listen in. >> of the united states -- [inaudible] [inaudible] doesn't that sound good. for too long. secretary mattis. [applause]
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>> and this is the protection of the nation from foreign terrorist entry into the united states. we all know what that means. protection of the nation from foreign terrorists entry into the united states. big stuff. [cameras clicking] and i want to thank everybody in the room. many great heroes, many great warriors. we have tremendous respect for you all. thank you. [applause]
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cheryl: there you have it. there you have it. all right, donald trump is now sworn in of course james mattis as the new secretary of defense and signed two executive orders to rebuild the armed force. the second one, extreme vetting to make sure, well, the bad folks, if you will don't get into this country, david. david: i love again how right to the point they all were. james mattis spoke, couldn't have been about three or four sentences. colonel oliver north, chris harmer, scott brown are still with us. colonel north, again as you mentioned you have known general mattis for decades. i'm sure that his eloquence and lack of going on at all was no surprise to you. >> just great, cut right to the issue. david: yeah. >> i was watching this, david and cheryl, it occurs to me what an incredible advantage president trump has in his choice of secretary of defense and chairman of the joint chiefs of staff. they both served in combat together. i you saw them both in combat
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during the battle fallujah. jim mattis's convoy was ambushed en route back to ramadi. joe dunford was named fighting joe dunford by my cameraman as he rolled his humvee armored unit to in the middle of intersection to save a helicopter with 11 wounded men. they are fame must for asking what if. they patient for results. both these guys are workaholics. since last weekend they have been working hard at options for accelerating the fight against isis and creating a refugee and displaced persons safe haven in syria and coming up with executive order we just saw. david: colonel, as man with distinguished record in combat yourself, when you hear president donald trump say, i've got your back and he said it not only to general mattis but was saying it by extension to all of the people in the military,
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there was a certain believability to him saying that, that you didn't necessarily get from the lasted a administration. >> well, look, i think a lot of us who served in the military before, certainly many of those i have been covering in this war for 15 years are glad to have donald trump as their commander-in-chief. they will serve whoever the commander-in-chief is. they know the immediate challeng are gting more allies into the fighagains is. they know the concern about about turkey, russia, iran and cabal they built. iranian nuclear issue, working with the north koreans and building icbms and nuclear weapons. all of those are known. even down to the level of senior nccos in the marine corps. you know that because you have a son who is one of them. they recognize in this team being built, what you just saw in the pentagon is a team. they have a better future for their families and nobody who puts on a uniform wants to be fighting at a lost cause. what they know, cheryl, just one
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last, what they know is that those words that were just uttered by the commander-in-chief are true. cheryl: it was very moving ceremony, to your point, colonel, but also, scott, this executive action he is is taking, we're looking at signing, particularly the order on extreme vetting, donald trump want to make sure those looking for refugee stat news in the united states are not coming here to does harm. that is what we've seen happen in places like germany and. melissa. but at the same time, there is also this issue of the vetting of those that are here, the deportation of illegal immigrants, if they commit a crime, making sure federal authorities come in, take them from local jails. in cities like new york the mayor here does not want to see that happen. in a city like miami, scott, the mayor says we'll abide by federal law. the mayor is saying he will sue the government here in new york, sue the federal government, scott. this is not what donald trump is --
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>> i'm sorry, i am sorry i think you live in new york, for those new yorkers who actually live there, i'm sorry you're wasting your tax money when you write that check obviously to the state of new york. that's a problem. what is the common theme, cheryl? they are all democrats fighting disorder. they're trying to protect criminal illegal aliens. not only breaking law by coming in, now breaking the law hurting american citizens and destroying potentially property or hurting or killing ordinary american citizens. the mayor wants to protect how outrageous is that? how upside down is that? makes absolutely no sense. i'm glad that isis will be able to do their job. i'm glad that the president is putting his foot down, so take away the money and i guarranty you that they are going to come back. he will win, supremacy clause, he is right on this issue, period. david: chris harmer, finally, the president did sign new order to revamp the military. how badly in need of revamping
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is our military right now? >> it is disingenuous this is unique time because each time is unique. this is difficult time for the military, at tail end of continuous combat. a lost equipment is worn out, a lot of people are worn out. we're tail end of margin of readiness, spread a mile wide and inch deep. public says we have 550, 600 billion-dollar defense budget. that is lot of money. we have worldwide commitments that never end. a lot of ships are warn out. planes are worn out. sea 53 fleet completely worn out. they're trying to regenerate that. it takes time and money. you have to have a safe haven to rebuild that stuff. we're giving the pentagon to allocate funding when it comes to congress. david: we have to leave it there, chris harmer, scott, thank you very much. of course colonel north. cheryl: i did want to keep our
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panel, david, hear i overstep with david asman, i shouldn't be doing. i want to go back to oliver north on one more issue, that is the issue of protecting this relationship with nato and protecting, colonel that relationship. we still seem to be arguing and disagreement between president trump and now secretary mattis about that relationship with nato. we had theresa may here today, at the microphone with donald trump, but there seems to be a huge problem with regards to our nato relationship, in particular, colonel the money that we'reuttinto that relationship. where do you stand with that. >> it is more thanhe money, cheryl. look it,'ve been covering this war for 15 years. i've been all over that place with our nato allies and others and local forces allied with us. there is none of them, except perhaps the brits and canadians whoever stepped up to the level we've been committed to this. i know there are germans over there training policemen and
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italians doing medical stuff, but the fact they copped out. they were allowed to cop out for eight years. george w. bush tried to build a better coalition, it didn't work. i think this president will get that kind of commitment on combating terrorism because first of all they have learned the lesson of not vetting refugees. i would tell you that merkel is probably political toast because she failed to step up to the plate. i think europeans will stand up and back this president's plan for building a nato that is capable of defending itself. it is not just against russia. it is russia, turkey, iran, all of them in that cabal and particularly iranians working with north koreans on icbms and nukes. david: there always worth getting the last word from colonel north. thank you very much, gentlemen. new proposal for the mexican border wall. president trump signaling he may support a border adjustment tax to pay for it. steve forbes says that would be a monumental mistake. he has a direct message to president trump explaining why.
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cheryl: putting a diplomatic dispute on hold, president trump speaking with mexican president over the phone today and both men agreeing not to speak publicly about the proposed controversial payment for the border wall. the president speaking about the relationship between the two countries earlier today. >> we are going to be working on a fair relationship and a new relationship but the united states can not continue to lose vast amounts of business, vast amounts of companies, and millions and millions of people losing their jobs. that won't happen with me. david: here now to talk about this and the wall, how to pay for it, steve forbes, forbes media chairman. steve we're hearing about a lot of different proposals to put in a tax to american people or companies to pay for the wall. is it possible we're going to
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have a new tax before we have tax cuts, and would that be a mistake? >> it would be a huge mistake. i think a lot of people in congress are pushing for this kind of a border tax. even inside of the white house. i don't think the president at the end of the day will go along with it. putting a 20% tax, sales tax will be paid for by american consumers. so we're going to punish american consumers for alleged sins from mexico, not the way you go about it. and so this whole border tax controversy with some republicans including paul ryan want a 20% national sales tax on imports, that will raise the price of gasoline, for example, david, by 30 cents a gallon. don't do it. david: coming at a bad time. coming as inflation is beginning to tick up again. so people will be paying more because of inflation and then they get a tax and they pay even more. >> that's right. that's why the tax cut they want to postpone at few months. i think they suld get to work on that right away, give
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american consumers, working class americans, middle-class americans, a break you no. not sometime in the future. economy in the fourth quarter, slowing down again. david: you wrote a president to the president in for example. i am writing about the tax-cut package congressional republicans are working on which hold as lot of promise but alas contain as poison pill on your goal making the america great again. border adjustment tax. the president seemed to speak against that in a interview with the "wall street journal." you know steve moore. he seam r seemed to be coming out in favor of it. let me get your reaction. >> i think the way to deal with it through a border adjustable tax, stop taxing what we produce here in america and starts taxing what we import. by the way that is mexico does to us. why not have a tax that changes the way we tax? david: what do you think of that, steve?
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>> you don't cut taxes by putting in new taxes. europeans have a similar tax. call it a value-added tax. put it in 30 years ago, huge depressant on economy. don't punish your consumers. why imitate countries that. get the economy, show the world how to really achieve growth. you don't have to punish your own people to do it. no national sales tax of 20%. we -- david: so if you have the wall though, you will have to pay for it somehow. how do you pay forfeit not some other tax? >> there are vary with us ways to do it. you have transfer fees. you have border tax not on products people going back and forths something like that.
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we shouldn't imitate democrats, the republicans. david: other excuse that the gop, establishment republicans are using for a new tax, they have to pay for the tax cuts. every time i hear somebody in washington say we have to pay to give money back to people, it is their own money, my head wants to explode. >> establishment republicans, not to mention democrats allowed this budget to become so bloated. they will punish the american people for the lack of performance by the politicians in washington. not the way to go. john kennedy and ronald reagan, both great tax cutters, never tied their tax cuts to spending reductions. they knew that was a washington way to i will can the tax cuts and punish the people even more. david: steve, great to he see you. thank you very much. you never get enough of steve forbes. watch him and i'll be there as well every saturday, "forbes on fox." it is 11:00 a.m. eastern time. on our sister station, fox news. don't want to miss it. cheryl: one of my favorite
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shows, david asman on saturday morning. you have to watch "forbes on fox." a lot going on. great afternoon. david: thank you so much for joining in. >> a new defense secretary is now in place. david: god bless general mattis. we wish him the very best. that does it for us. have a wonderful weekend.


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