tv Varney Company FOX Business March 13, 2017 9:00am-12:01pm EDT
rk state is filled with bright minds like lisa's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. >> thanks to our fabulous panel, have a great day. "varney & company," take it away. stuart: it's going to be a big week, politics, money and the weather. good morning, everyone. we will start with a blizzard warning, this is march 13th, remember. this time tomorrow, one or two feet of snow arrives with that there nor'easter. the east coast could take a hit. it will take a hit actually. a lot of people are going to be staying home and we will deal with that. like we said, big week. wednesday, odds are, interest rates go up for only the third time in ten years. also, on wednesday, the dutch election, why do we care? because poplists look set to
win and would test europe's unity. the bean counters, the congressional office will layout how much they think senator ryan's plan will cost. and preet bharara says he was fired because there was an investigation, elijah cummings said that. will your 401(k) hold up this week? look at that, could it be through all of these problems at wall street and the trump rally holds? this is what we do, politics, money, and, yes, occasionally the weather. "varney & company" is about to begin. [laughter] ♪ >> well, i tried my hand as a sports reporter and now this, a weather reporter. here we go. a big snowstorm coming, it's
going to hit the northeast starting late tonight, early, early tomorrow morning. blizzard watch, literally a blizzard watch is in force for new york city and some other cities as well. this storm will go from d.c. to boston, a foot of snow or maybe more expected. wind gusts 50 miles an hour maybe. dare i say that amazon, netflix will benefit from millions and millions of people being snow-bound. watch that storm come. we've got a lot of negatives coming at the market this week, but stocks though are holding their gains. we're going to open up this monday morning with a small gain. who would have thought it with the negatives coming at us. we will be up 10 or 15 at the opening bell. and oil is at $48, down a fraction so far, and because of that, the price of gasoline is beginning to come down. the national average now is 2.29. we expect that to go down significantly in coming days because of the drop in oil.
how about this one for you? a new gallup poll says 54% of americans are optimistic president trump will make the u.s. more prosperous. joining us now, lee carter. well, his approval rating is below 50%. they don't necessarily like the man or his style, but they do like his economic policies. is that the kind of split you're seeing in your polling? >> yeah, i think it's always been more than about donald trump, it's really been much more about the movement and what he's promising. a lot of folks might not like him as a person, but they're looking forward to tax relief. they're looking forward to obamacare being repealed. they're looking forward to all of these things, frankly when i looked, i was surprised wasn't higher. we're seeing a rally in the stock market, increase in jobs numbers, and announcement after announcement, and manufacturing jobs staying here or coming back here. .
>> they're not reported very well, are they? i believe we're starting to see the start of the trump expansion, as you said, job numbers, manufacturing, construction, et cetera, et cetera, they're all looking positive, but that's not being reported. that's not on the front pages. newspapers, it doesn't lead the nightly news broad fast. >> i think a lot of people are saying, he's not going to be able to get the obamacare thing through and not going to get tax reform done in august and giving people more doubt than they otherwise should because his administration says we are he going to put it forth and get it done, done by august. so we're seeing a between what they're saying and what people are covering and we can all hope come august they have tax reform done and we'll see more acts of prosperity. stuart: in the early days of the presidency, president obama and george w. bush, the optimism feelings were much higher than they are now because i think of the very negative media coverage that we've received, that president
trump has received. >> i don't think we've seen anything quite like this. it's not just that we disagree, i think this isn't good for america. we're saying if you agree with donald trump, you are evil. and i think that's a big, big problem because we're not allowed to have a productive conversation. it's becoming name calling and pejorative and it's really not constructive. stuart: i'm just looking at the front page of the new york times. nowhere does it say anything about the expansion that's begun for the stock market rally which is enriching americans, many americans. the headline says economic steam pits trump goal against wary friends. >> they're reinforcing their beliefs, rather than expanding by listening to the other side. lee, you're all right. >> i'll be here. stuart: we'll be back in a second. listen to this, u.s. attorney preet bharara, here is what he
tweeted-- well, forget that, elijah cummings says he may have been fired because he may have been investigating the president of the united states. all rise. >> judge napolitano is here. >> shaking my head, i think it's a nonstory and it's on the front pages and the media is interest in whether there's a "there" there. stuart: what do you make of it. >> i think it's utter nonsense because some people filed a complaint with preet bharara saying that he's breaking the law this is not a complaint that made its way to the level of preet bharara, but it was deemed frivolous at the time it was filed. as for bharara, it's the most
prestigious, he was once occupied by rudy guiliani. but when you are a u.s. attorney, the chief federal prosecutor for an area, you serve at the pleasure of the president. when the president or his designation, here the attorney general asks you to resign, you resign, that's the way the system works. moreover, when the president of the united states calls you up to give you a heads-up, you don't refuse to take the call. stuart: is that what happened? >> that's what happened. here is what he said, he said i'm not take-- i didn't take the call from the president because there's a federal rule that prohibits me from discussing ongoing criminal investigations with the president. there is such a rule, but at least see what the president wants. if it's about a criminal investigation simply say, as you know, mr. president, we can't discuss it. he didn't take the call, didn't return the call. he didn't resign when asked to. he quit and made a big deal out of it for what? so we can talk about him on monday morning? >> no, the whole weekend, the media has been fired up with what i think is--
it's not a scandal, it's a fake political turmoil story. >> perhaps because he wants the publicity to launch the next phase of his career, and i don't know why we're giving it to him. stuart: but we are, aren't we. [laughter] >> my point is in the start of this show is that the media is misleading us. >> yes. stuart: and we're off down this rabbit hole about preet bharara being fired. >> the justice department works for the president. the president is the chief law enforcement officer of the land. it's perfectly normal operating procedure for the president to ask federal prosecutors appointed by his predecessor to leave so he can put his own people in there. stuart: why is it that every day i have to get up and say, ignore this from the media, look at this because this is what's important. >> just what you were discussing with lee, because the media like no time in our memories, not even barry goldwater, not even ronald reagan is so going for his jugular, the president's jugular, that they're not
covering stories that the public has the right to know about. stuart: it's astonishing that the stock market will open flat or slightly higher despite the barrage to every investigator. ashley: you did a pretty good job on the weather report. i didn't know you could do weather. stuart: jack-of-all-trades. ashley: and it's quite-- >> you see, you need immigrants. [laughter] >> talking about the weather. now, here is something that really got under my skin. here is another one. white house press secretary sean spicer, he's out shopping at an apple store on saturday. he was confronted by a woman and she posted a video of the encounter on twit ter. roll tape. >> you work for a fashs, do you feel good about the lying to the american people. how do you feel?
have you helped with the russia is it you have? are you a criminal as well? >> see, this is at it, the guy goes shopping at an apple store and accosted like that. is this where we've arrived these days? >> it is, it is. and the whole setup of the thing is ridiculous. she's asking questions, she's not asking questions, she might as well be screaming at him. it's preposterous, and the complete lack of curiosity that folks have, if you disagree with donald trump, if you disagree with the press secretary, why not have a conversation? why not try and understand where they're coming from instead of saying i'm going to resist, you are evil, are you proud to be a-- >> she asked have you committed treason like the president. stuart: the officials associated with president trump, they're going to be
accosted? is this what we're seeing, judge? >> probably. if you look at the clips of congressman darrell issa trying to explain his votes, they shouted him down and hooted him down, only thing they didn't do is throw tomatoes at him. and i think it's organized and it's going to get worse. this is happening in great britain? >> probably, yes. liz: it happens in the house. [laughter] >> order! . [laughter] >> intel is buying mobile i, a driverless car technology company. guess what they're paying? $15 billion. so, e-mack, i want to know exactly what mobile eye does. liz: it makes robot cars safer because it does rear and front view cameras and mapping and working with 27 car makers already, including audi and bmw
with intel working on that. and their systems are in tesla. this is the $15 billion plus deal. it's a big deal for robotic cars and you know, it's going to make this space even more hot. this is the biggest israeli tech acquisition ever. stuart: $15 billion, that will do it every time. thanks so much, lizzie. here is what's coming up for you. look at this, this is a house, believe it or not, in western new york right on lake ontario, completely covered in ice. a wind storm blue water off the lake, onto the house and as you can see, it froze dead solid. a terrific picture. that's what i call the icing of a house. some lawmakers proposing a new bill could make flying a bit more comfortable, maybe. it's called the seat act of 2017, puts limits on how narrow a seat can be, stops airlines from taking away any more of your leg room. details on that coming up. and president trump beefing up our military presence in the mideast.
we've told you about 400 marines armed with heavy artillery on the ground in syria. 2500 paratroopers in kuwait, sent to fight isis. general jack keane coming up on that. ding desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as 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
>> i might sound like a broken record, but there are a lot of negatives facing investors this week, but this monday morning, we're actually going to open just a fraction higher. we'll try to explain it for you, but we will be up this monday morning at opening bell. how about this for you, the pentagon sent 400 marines to syria armed with heavy artillery. 2500 paratroopers, the 82nd airborne sent to kuwait. they're taking the fight directly to isis, that's what it looks like. general jack keane is with us, the military analyst, what happens after the confrontation with isis. we believe we are going to have a confrontation with iran, right? >> well, first of all, this is the--
these troops are the first installment of part of a comprehensive plan to defeat isis and we'll retake the territory in iraq and retake the territory in syria, but isis being defeated has a ways to go. they have expanded into 30 countries and they have an internet, a caliphate of source where people swear allegiance to them. it will take time to undermine the resources and finances. yes, i believe eventually there's a collision course with iran because they want to dominate and control the middle east. they're not going to change from that course of action and eventually we will have to do something to confront them to get them to change their behavior, stuart. stuart: do we have to bring our guys out of there, the marines are in syria, and we've got the 82nd airborne in kuwait. do they have to deal with isis
and then get out to stop a confrontation directly with iranian forces? >> no, not at all. likely what will happen with the iranians, it will be largely sanctions initially, and then possibly some reaction to their maritime activities in the gulf that take place with the boats. i wouldn't be surprised if we don't blow one of those boats out of the water at some point here. no, we're not talking about a ground conflict with the iranians, not at all. stuart: that's what a lot of people are very worried about, obviously. i just want to refer to the upcoming meeting between germany's chancellor angela merkel, i think it's tomorrow, in washington d.c. with president trump. now, i think president trump is going to say to angela merkel, spends more money on your ard forces. in other words, rearm. how do you feel abt th? >> well, totallygree with him. i think he's been right all along on nato, in other words, people should pay their fair share. what we're talking about here is one of the objectives of
being in the nato alliance is to spend 2% of your gross domestic product on the fence, -- defense, germany does not. they spend about 1.2% and i think what angela merkel will likely tell him is that she does not intend to increase the defense spending to that 2% goal because of the historic nature of german's military and the fact that her people do not want a strong military to the point that it has been in the past, which drove us to world war i and world war ii. >> does president trump then withdraw our defense of western europe? >> no, i don't think so. i think he and his advisors have allstated the importance of the north atlantic treaty organization. i think what-- where the compromise could be, angela merkel could increase certain capabilities that she is not providing now to strengthen the alliance and i
believe that would be an acceptable compromise to the president, i'm not speaking for him, but i think that would be a way for her to contribute more strongly to the north atlantic treaty alliance. stuart: okay, general jack keane, always a pleasure. >> take care. stuart: a look alt the white house because the president is holding a meeting on health care later on this morning. question for you, is it time for the president to take the lead on an obamacare replacement plan, grab the bull by its horns, so to speak, and take it to congress? more varney in a minute.
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>> the push is on, get l republicans board with an obamacare replacement plan. president trump has just tweeted this. obamacare is imploding. it is a disaster. 2017 will be the worst year yet by far. republicans will come together and save the day. lee carter, why are you laughing? [laughter] >> i just, i can't help it. i just think about once every, at least once every day i'm laughing at something that the president says. stuart: but this is the opportunity for the president, as we keep on saying, grab the bull by the horns, twist arms, do some horse trading and get
them to agree. >> there's no question that donald trump needs to get involved in this right now. he's got to take the bull by the horns. he is the art of the deal and the negotiator and he himself said look, i've done a great job so far and the messaging hasn't been that great and he needs to sell this to make it happen. stuart: he's trying with tweets and he has a meeting in the white house and he'll try and try and try, but i think it's got to be behind closed doors they need to butt heads together. that's my opinion. we're going to open up this monday morning and we're going to open, when i say up, i mean just a little bit. again, this is a real surprise because there are so many things that could go wrong this week. forecast, the federal reserve is in all likelihood going to raise interest rates on wednesday. there's a big election coming in europe. we're going to get the cbo scoring the obamacare plan and we're going to get a budget this week. all of that lot could come altogether and hurt the market, but not this monday morning.
we'll be up 50 to 20 points and we'll be back with the opening bell. and bad... ...at t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence. ( ♪ ) upstate new york is a good place to pursue your dreams. at vicarious visions, i get to be tive, work with awesome people, and we get to make great games. ( ♪ ) what i like about the area, feels like everybody knows each other. and i can go to my local coffee shop and they know who i am. it's really cool. new york state is filled with bright minds like lisa's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin.
they're talking about the federal reserve and do you think that the election in holland on wednesday? no, none of the above. most people are talking about and making plans for the gigantic snowstorm which is due to arrive in less than 24 hours. here is comes, it's going to hit the northeast, blizzard conditions. right now we're looking at the opening bell on wall street on a monday morning, we're off and run and down 3 points, down 1 point and see where we actually go after a few minutes of trading. we expected a modest gain and what we got essentially a dead flat opening for the dow industrial. down a tiny fraction right there at 20,900. that's the news of the morning after 30 seconds' worth of business. check out the rest of the big board. i think we could show you the sense of the market, you know, what we've got the reds and greens up there. no, we don't have that. we've got something wrong with the lighting system on that, apparently. a loof oil in storage and it's sitting around $48 a
barrel, a huge drop last week, down a fraction this morning at 48.43. that's oil. now, we've got a big deal to tell you about. intel is buying mobile eye. it's going to pay more than $15 billion. it's an israeli company and runs the gamut of self-driving technolo technology. i'll have more on that. inbound tell is down a tiny, tiny fraction. as we've said throughout the show today, we've got negatives coming at the market this week. let's discuss. who do we have with us, liz macdonald, scott shellady and keith fitz-gerald. i say it's a testing time with the market with all of the negatives. first off, keith, what do you say? >> absolutely, the market can remain illogical longer than you can remain solvent as the old saying goes. this is what optimism actually looks like. stuart: that was very short, keith. you kind of caught me there. [laughter] i was expecting a paragraph
from you, not a couple of sentences. can you keep going or you want me to move on? >> i can keep going, here is the thing, stuart, there are a lot of negatives. you can say we live in the best of times and worst of times. if you're concentrating on solid plans and experienced management that's the stuff you want to think about. short-term movements up and down, those a traders environment, but as an investor, this is a good sign, it means the markets are not running for the hills. stuart: okay, you set him up nicely so let's bring in scott shellady. what do you think the end of this week, up, down or side ways? >> well, we'll probably be slightly higher. here is the deal, stuart. i think that charles brought this up a while back. for eight years we've been looking at the dirty side of the coin. we've been negative and expected bad things to come. we've seen a total sentiment change and often times there doesn't have to be a market mover behind it. just a change in sentiment.
what patton or mccarthur would do. does practice make you luc or practice make you happen to have more luck? these are things changing in society and i think, yes, we will start to see some of that proof in the pudding, but i think we're now starting to look at the good side or the green side-- clean side of the coin rather than the bad side. if you see and believe, things start happening. stuart: i think you're right. i think that investors are ignoring the political turmoil and negatives in the media. look at this, i've got a gallup poll, 54% of us are optimistic that president trump will make the u.s. more prosperous. mr. trump approval rating is down, below 50%, they may not like him, but they think he will be good for everybody he is a money. that seems to be the state of play. liz: yes, his approval rating is lower than president obama or george w. bush when he came
into office, but we've seen that across the board. they have faith in the policies that it will keep the country moving again. and we've seen that in polls as well. stuart: and despite that, look at this, the dow jones industrial average up with a gain in the first minutes of business. that's a surprise given the news background, which is very negative. how about the price of oil? that big drop last week because we got so much oil in supply. as of this morning, it's pretty much flat, but it's at $48 a barrel. cause of that downside move in the price of crude shall the price of gasoline is starting to come down. it's down 2.29 for the national average, not that much so far, but scott shellady, come back in. are we going to see gas prices come down significantly from 2.29 a gallon? >> well, significantly is a big word, especially for me, but i think that we have a supply issue here. this isn't going to be a demand issue, the economy is not going to rescue the price of oil.
we keep seeing more and more news about big discoveries and more shale. that's going to be the issue going forward. i think there's a much bigger knock-on effect and we don't want to see anything bad happening in the energy industry in the united states. and they've had time to slowly and surely brace themselves for this. what's the price of an electric car if gasoline is a buck 50. what happens if we see the fossil fuels cheaper and cheaper and it's a supply issue. stuart: because there's no motivation to buy the electric car if the gasoline is so cheap. keith, this question for you, if we see the price of crude oil come down, as i say significantly, 42, 43, $44 a barrel, does the stock market take a hit? >> boy, that's a tough call for the reasons that scott was talking about. what happens, profitability gets reassigned and the money
will be there. frankly, i'm surprised we're not under $40 a barrel. stuart: interesting point. the markets are dead flat and we're six minutes into the seeings, we're at .0 that's flat. and for the china market, there's a big jump in sales there, i wonder what president trump thinks about that. this is we've been saying all morning, there's a storm could coming. we look the generac, they make generators, and home depot, salt and shovels, and lowe's. and then netflix, and you moo you want to shop on amazon, you can't get out the front doorment on the front page there, scott, would you buy any of them? >> i'd be looking at amazon, and netflix.
i would add a couple to the list, i don't own these, but diageo would be one and anheuser-busch and other people are doing things while they're watching things. stuart: drinks companies, alcohol sellers. interesting. >> correct. stuart: we move on to j.c. penney, they have announced, they're making a big bet on home remodeling services. e-mac tell me-- >> nobody expect this had from j.c. penney home services, it means appliances, it means interior decorate,s, water cooling systems. what a space for j.c. penney to get into. taking on sears, home depot and lowe's. >> wow, i wonder how much they've got to put into that. >> you're right. the stock has been cut in laugh. >> yes, it has. >> come in again, keith. would you buy-- some people said that j.c. penney has come so far down, it's now a bargain price and now they've got the home
improvement idea going for them. would you buy j.c. penney? >> no, not for that. good luck with that. sears tried and failedtarget tried and failed. they ought to be dealing with an amazon competitive strategy. once they get that under control then branch out. i don't think so. stuart: got it. how about this, the big three credit agencies, equifax, experian and trans union. they're going to exclude negative data like tax liens on you and they're going to exclude that from your credit report. that starts in july. does this bring on precisely the financial trouble that we had seven or eight years ago, scott? >> watch me answer two questions with one answer here. i think, yes, it does. it brings me back to the days, no documentation for a mortgage and we're not there yet, but
excluding bad information is only good for the housing market, i think that's going to bring the housing market back. if the housing market starts to roar back or shows good signs of life, instead of redoing your house, you're going to move. so, why in the world would j.c. penney want to get in the business of remodeling your interwhy are house when most people would do that when they couldn't sell, now they can sell and so they move on because the market is better. i don't understand j.c. penney's timing and yes, this will be better for the housing market. stuart: that's a very good answer to several questions. pretty good, scott, well done, son, well done. stuart: now, trump's senior economic advicer gary cohn says there's no-- to do, but reinvestor in the military. and are there any defense stocks you like? one is raytheon, do you like it? >> correct, all three are plays on the digital battlefield, stuart, that's where it's going.
raytheon is the first one, everyone knows them for the missile systems, what they don't know they're working on command and control, geo positioning. and the second is helmet cam systems and control systems particularly for the army and on top of it, e last one a ayedo's defense technology, it's a small cap israeli company, but digitally oriented and that's the key here and that's where the big play is when it comes to these things. stuart: fascinating. not so much the weapons systems, but a digital battlefield is coming on strong. good one, keith. you may think it's a tight squeeze the last time you went on a plane, the average distance between seat rows has dropped four inches since the late 1970's. well, there's now a bill to stop the airlines from shrinking your seat size or your leg room any further. do you think they're going to-- why is the federal government doing this?
>> well, it's really beyond fly the unfriendly skies. what airlines have been doing, squeeze more seats there to make more money. they're saying it's dangerous to try to evacuate planes with this kind of shrinkage going on and health risks for people, deep vein thrombosis is an issue for people who fly the airlines a lot. stuart: scott shellady, you've had an extraordinary series of answers on all kinds of questions this morning. what do you say about seat size in airlines? >> i'm just happy it's not me, okay? i thought it was just me. so i'm glad there are people out there a lot smaller than i am complaining about it, at the same time the seats are getting smaller and seems i'm getting bigger and it's a double negave and no good. stuart: what are you doing in london? i see you with big ben behind you. what are you doing? >> we have an office here and keep tabs on and every so often. stuart: you practically live there, scott.
you're going to get a british accent if you're not careful. >> i don't know about that, but i've got a british passport. stuart: and a lot of people don't know this, this man has a british passport. scott, keith, thank you so much. you stay, liz, got it. we're now down 13 points from the dow jones industrial average. check this out. incredible video from florida, giant cruise ship coming from within feet of hitting a pair of jet skiers. what happened. i do believe the cruise ship has the right of way. and check the big board likely to see an interest rate on wednesday. and bob dollar, i don't know if he's managing a trillion dollars, he's on the show. he says he's optimistic about the stock market. that's important. he's with us after this. ♪
>> and now we're just receiving word on this, president trump's going to visit the detroit area on wednesday. e-mack, he's talking about vehicle emissions rules. liz: what's happened, the obama administration, the final days of that presidency, tried to lock in these rules which said, yes, you have to raise the number of miles per gallon that the cars, from an average of 27 1/2 miles per gallon to 50
miles per gallon. stuart: from 27 to 50? >> a big jump. you have less greenhouse gallons in the atmosphere. car makers say, it's costing more money and we have to make them lighter, and it's more expensive and that's why we're moving to mexico and put the factories in mexico. stuart: president trump is going to the detroit area and is he expect today say i'm not having the mileage standards. liz: he's expect today dial it back, leaders gm, chrysler fiat, ford, and japanese car makers. stuart: another meeting, good stuff. check out the big board. 13 points down, 12 points down, just shy of 20,900. look who is here, his name is bob doll. he used to manage a trillion dollars. >> yes, in the firm i'm working with now, a trillion dollars.
stuart: i can still call you the trillion dollar man. in that case you have some clout on the program. >> we try. stuart: the interest rates are probably going to go up on wednesday and you say that doesn't matter, it's not going to hurt stocks this time around, make your case. >> first of all, everybody knows it so it's in the market and second of all, i would make the observation that the fed is behind the curve. and what will be the accelerated pace it rises from here. that could be potentially damage to the stock market, but not yet. stuart: not this week. >> the fed is moving because they see the economy expanding. >> the target have been a little more growth, a little more inflation and-- >> since the election, growth down the road, bingo, here we go. on this program late last week, we had trump's senior economic advisor gary cohn, he told us about tax cuts. roll that tape for a second. >> we will continue to work on
tax reform till we get it done. it is a stated objective of the president to get tax reform done this year. we're actually prepared to work through the recess, we're prepared to not go on recess. we're prepared to stay here and work on it, but we can work on it in the fall. we need to get it done this calendar year. stuart: is that a must, you've got to get it done this year? >> the markets responded to a better economy, but responded to, we're going to get some tax cuts. so eventually it has to happen. i love the style. we're happy to work through the recess. wouldn't that be a change in washington d.c. stuart: it's got to be this year. what happens if it's not this year, the markets-- >> i don't think the world is going to fall apart, but it's got to be early next week. and there's some talk it will be gone in august, i'm thinking no way, shape or form. stuart: i've been hearing from viewers, you're too much about a tax cut and you're self-interested.
i saw a tax cut is vital and necessary to get growth in the future and prosperity in the future. are you with me on this? >> totally. we have the highest corporate tax rate in the world, as you know. we've got to get competitive and tax simplification so people understand it. stuart: if we get tax reform this year, i don't know when, but this year, are we looking at maybe 3, 4% growth next year? can we do that? >> we have a shot for several quarters. to 4 is a stretch even with tax cuts. it would be great to grow at 3. we've grown at 2 for how many now. i'm tired of 2, you probably are, too, let's try 3. stuart: are you surprised this morning we opened up dead flat when you've got a rate increase, and i see them almost as negatives and yet, they're dead flat. >> the market is responding, and the earnings, it's going to taking hit offer the head to make it go down. >> interesting a man banging the table for a tax cut and
gains in the market. >> it helps everybody. stuart: yes, it does. bob doll, what a pleasure to meet you in the flesh. we're down 11 points, that's it. shy of 20,900. president trump speaking with the palestinian leader abbas friday night. he wants to make a deal to bring peace to the mideast. and allow me to be sarcastic, but how many times have i heard that? we'll be back. ♪
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>> let's take a look at boeing, why are we looking at it? because morgan stanley has downgraded it. they say the company faces a substantial number of risks. not that much effect, down .4%. president trump's top economic advisor gary cohn, he says the president has akened animal spirits. roll tape. >> we've seen more optimism in the ceo community in our first 50 days, today marks our 50 days here in the white house, first seven weeks, than we've seen in a long time. we've had over 100 ceo's into the white house and they each come in and tell us about what they're going to do in their business, the hiring they're going to do, the growth they've seen, the opportunity they've seen and ability to bring back jobs to america. stuart: trillion dollar man bob
doll is still with us. he likes this show. [laughter] don't you? animal spirits, i associate that with the emotionalism of capitalism, sometimes greedy, sometimes avarice, enthusiasm. >> we got some before the fourth quarter, and before the election and now that's why animal spirits are up. you look at consumer confidence, ceo confidence that gary mentioned and they're all ticking up nicely to what's happening. stuart: animal spirits refers to positive emotion, positive for wall street, make more money-- >> and for main street, too, because it means more jobs. stuart: i think of you as a hot shot guy from wall street. well, you are, you've been around a long time. >> an old guy as you're saying. stuart: i'm not. i'm older than you are. it surprises me there are so
few of hot shots on wall street prepared to come out and talk like you talk. >> we have to grow our economy because that grows earnings and what moves stocks? we make it so complicated. earnings move stocks. >> that's what this market is all about. >> i agree. stuart: the promise of better profits down the road. >> plus we've gotten some. in october, the economy started getting better and mostly since then, know the just here in the u.s., but around the world, growth is improving somewhat. we need to keep working on it and sustain it, hopefully the policies do it. stuart: there you see the trillion dollar guy. come back. the repealing and replacing obamacare and getting both sides of the republican party to agree on it, i think that's his job he's got to do now. and we keep using the expression, he's got to grab the bull by the horns. that's what we think. we'll make our case three minutes from now.
stuart: with the intense opposition to everything president trump wants to do, polling results from gallup come as a surprise. 54% think the president will do a good job of making america prosperous. there isn't a day that goes by without a negative story in the media or political firestorm surrounding our new president. that particularly comes to true with money. how many times we've been told trump will get us into a trade war or tax cuts benefit the rich or repealing obamacare will kill thousands of people that was reported this weekend. a majority thinks he will bring prosperity anyway. we weren't expecting that. now comes the first big test, obamacare, and there is indeed a split among republicans over the replacement plan. this is where the president has to step in, bang heads together, do some horse trading maybe, and negotiate a deal that will pass the house and senate.
fail with this, and the whole prosperity program is derailed. the people back him now, but he has got to as we say, grab the bull bit horns to keep voters in his column. it appears that is what he is doing. the second hour of "varney & company" will explain it all. it is about to begin. ♪ stuart: it's monday morning. this how we started the week, a 20 or so point dp r the dow, still below 20,900. couple companies very much empty news. first off, mobile eye, an israeli company, it is a huge winner, it will be bought by intel for $15 billion that stock of course up 29%. mobile aye makes self-driving car technology. we always look at the storm stocks before a big snowstorm.
let me tell you a big snowstorm is own the way. one to two feet of know from d.c. to boston. blizzard conditions forecast for new york city. that is what more people are talking about than wall street at the moment. millions of people are going to be making plans. what on earth will we do with the kids tomorrow? well that is another story. we'll wait it for later to cover it. how about the price of oil? $48 a barrel this morning. that is because we got a glut in terms of supply coming down a bit more. because of that the price of gasoline is coming down. 2.29 is the national average. looks like it will come down more in the very near future. back to my take with the editorial at the top of the hour, i say it is time for president trump to take sides in the health care bill and get something done, get a single plan. he seems to know it, this is what he tweeted this morning. obamacare is imploding. it is a disaster and 2017 will
be the worst year yet by far. republicans will come together and save the day. former burke 41 campaign director mark serrano is with us now. mark, i think this is where the president has to really step in, get the two sides together, bang heads, an do it. i think you're going to agree with me. >> i do agree with you, stuart, and here's why. establishment politicians rarely make good policy because they don't know how to make good deals. there is a fine line between good policy and good deal-making on the part of donald trump what he is going to do, the democrats rendered themselves irrelevant on this issue. he really only needs to negotiate with the conservatives in congress. dealing with taxes he will have to deal with the tax credits. what he will do is focus on phaseout, long-term phaseout for people that can't be eligible. once he brings economic growth, stuart, those people will be able to afford insurance.
stuart: the conservatives object to tax credits. you're saying there is room for compromise here if the tax credits are phased out in a given period of time. that is the kind of compromise you see the president arranging? >> absolutely. i think he is doing it starting tomorrow night when they go bowling at the white house. he is going to sit down and work out on a deal. the democrats won't be at the table. they have made the choice for themselves. he would love them at the table. he needs to negotiate with the freedom caucus. most members of the freedom caucus are not concerned about pushback in their districts becast of them won with 57, 58, 60, 65% of their votes. they will focus on genuine, true, conservative principles and policy. believe me donald trump is the guy. this is a great test for him. he will pass this test, stuart. you're right. he has to step up. he will get these conservatives to work on phaseout. that will be his first win in congress. stuart: i'm told that the ryan plan as it stands now would not
pass the senate. might not even pass the house. that being the case, it is the president who has to make ryan compromise and has to make the conservatives compromise as well. last question to you, do you think he can do it? >> not only can he can, he is in the middle of doing it now. he will not broadcast everything he is maneuvering. if you look at the "art of the deal," he women maximize all options. that means he will get paul ryan to compromise and freedom caucus to compromise through good policy and good deal. stuart: fascinating. mark serrano, we expect something at the end of the week. thanks for joining us. >> thank you, stuart. stuart: we have this. two incidents over the weekend showing what i call the intolerant left. first off one of president trump's golf courses in california vandalized by a group of, what we think is environmentalists. video showing five people carving large letters into the grass, on the greens, spelling
out no more tigers, no more woods. that was done over the weekend at a trump golf course. more concerning perhaps is another incident occurred on saturday. a woman confronted white house press secretary sean spicer. he was in an apple store. he was confronted. watch this. >> you work for a fascist. how do you feel about that. how do you feel about destroying our country, sean? how do you feel about that? do you feel good about the decisions you're making, about lying to the american people. how does it feel? we have a great country? have you helped with the russia stuff? are you a criminal as well? stuart: i'm appalled, when a public official can't walk out and go shopping in an apple store thoubeinconfroed by very aggressive young woman, i think we have a problem here. tammy bruce is with us. you share my feelings. >> i don't like that it happened. i think it was dangerous. i think he should have more security to keep that from happening but i actually in the broader context love it. i think this is reminder to
americans everywhere about what it was that we defeated. the nature of the left, the nature of the liberals. this is the same kind of individual, clearly a young woman who is rioting for safe spaces for herself. so i think -- stuart: well, i don't know that. let's not be -- >> it's a generation that is, wants political correctness, wants nobody to be offended if you're on the left. yet then you're going rushing into a public space, saying those things. even what i'm seeing on social media. i'm not a fan of trump but that was inappropriate. it was irritating. and it is almost like, when there is a flag burning, that people on the left saying wait a minute, this is going too far. that is exactly reminder american people needed as democrat leadership telling people to step back a little bit not to be so aggressive. that he reminds they're dealing with. americans don't like it. stuart: the left is not stepping back. they're piling it on steams to me.
>> they're using with the dismissal of the u.s. attorneys, attempts to use that as some kind of indication that all of this is fraud or it is russia. trying to make it be about policy whereas in fa ty ha no real views on policy. they have no strength, they have no understanding of policy. it is all about, to some degree lies and misdirection. this dynamic reminds people of the individual willingness to actually accost people and, threaten them to some degree and that is what the american people have rejected, last year, and rejecting it now. stuart: very interesting, tammy, good take on that. appreciate it very much. lawmakers want to stop airlines making your seat smaller. i guess i can get behind that one. liz, explain it. liz: this is called, i'm calling it the don't fly the unfriendly skies bill. this is the american seat act of 2017. has a lot of democrat support. this is an issue. airlines are trying to squeeze ever more seats into their
planes and they're saying it is two issues at stake here. evacuation issues. when you have so many people crowded into small spaces and health issues. stuart: so, i mean i can understand if it's a safety issue, i can understand why the federal government needs to maybe get involved in this. otherwise i don't see why the federal government is insisting the seat be certain size and leg room a certain length. liz: it is evacuation issue. you have to weigh in. what they're doing is making the foam on the seats even smaller. the size of the seats smaller. the pitch smaller. stuart: just good job that i went on a diet, fortunately for me. next case, this is much more serious, u.s. attoey preet bharara fired after he refused to resign. he tweeted this. i did not resign. moments ago i was fired, being the u.s. attorney in southern district of new york will forever be the greatest honor of my professional life. tammy bruce, the left is all over this.
i don't think this is story at all. he was asked for his resignation and he refused. so he was fired. >> this is great about our ability to communicate now. everybody knows what janet reno did, what the other presidents, presidencies done clearing out an old, outgoing president's team. we know that this is traditional. it is regular. frankly it should have happened earlier. we're seeing there is a little cadre, brennan, sally yates, this individual who has been lauded for his work, we're finding out in fact as democrat, appointed as a democrat it is still really about politics. they're trying to make it more personal about him. the american people really aren't buying it, only because we see this is par for the course. this is what happens. liz: to your point didn't janet reno ask for jeff session's resignation? >> yes, exactly. stuart: congressman elijah cummings says he was fired
because he was investigating the president of the united states. he has not put forward any proof. liz: no proof at all. >> maxine waters says it wasn't happening in 2009 fast enough. people weren't being fired fast enough by barack obama. stuart: my, how times change. dow jones industrial average is down 19 point as we speak. we opened up this monday morning pretty much dead flat. next one. we have the marines in syria. u.s. marines are, deployed to syria, taking the fight directly to isis. lieutenant colonel ralph peters on that coming up next for you. . we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. at angie's list, we believeade with a clear advantage. there are certain things you can count on, like a tired dog is a good dog. [ dog barking, crashing ] so when you need a dog walkera
i wonder what president xi will make of that destination meeting. we'll see. check the big board. hovering around a 20 point loss for the dow industrials. all-time high for facebook and alphabet. look at that. getting close to $140 a share. how about boeing, got a downgrade from morgan stanley. which says it face as substantial number of risks. no impact for the stock. it is down 60 cents. the latest for you with the fight against isis. iraqi troops closing in on the city of mosul. we're told fighters are going house-to-house fighting isis. civilians desperately trying to flee. ralph peters is with us. ralph, we have the marines in syria, 4500 of them. 82nd airborne in kuwait. looks like our guys are fighting
on the ground in isis. my question is, what are they going to leave or is it a long time. >> our enemies are glad to use our forces to defeat isis but we're not part of the middle east future in the view of russia, turkey, iran, syria. even major factions in iraq. so what we're doing on the ground right now we have only a few special operators in direct combat positions and they're not, we're doing it right. president trump has increased the firepower but stuck to the basic obama script, just plussed it up, beefed it up. that is important. we don't want to fight their battles for them. on the ground they have got to fight themselves. so far so good. the problem, stuart, we have no realistic plan for the day after. instead of gripping the future in the middle east, we're clinging to the past. stuart: how can you grip the future when there is all these
different parties fighting each other? how do you grasp the future unless we stay with a large military force? i don't think many people want us to do that? >> when i say grasp the future, i don't mean grasping territory. the dirt ask worthless, the sand is worth worthless for the most part. i'm talking about a realistic approach what we can and can not do in the middle east future can look like. my problem, we in washington, we operate on inertia. we cling to those old, bad dysfunctional borders of syria, iraq, drawn by dead european empire builders. a fundamental structural problem in the middle east is that those bad borders drawn by britain and france almost 100 years ago, either divide people want to be tother like kurds or some sunnarabs or push people together that don't want to be together, like iraq, shia, sunni-arabs, the kurds. until the borders better reflect
demographics you will have no end of civil wars, uprisings, terrorism. by the way, yes, defeating isis is necessary and good but we should have made the russians and everybody else play. the russians aren't. the russians are attacking our guys while we're doing russian's work for them. so we're patsies. stuart: in and out real fast is what you want to see. i got it. i want to ask you angela merkel, germany's chancellor, coming to america, meeting tomorrow with president trump. general jack keane told us early this morning, about an hour, he said, angela merkel will refuse to spend a great deal more money on germany's armed forces. what do you make of that? >> i love general keen but on this issue he is misinformed. angela merkel, the last real man in europe, has committed to germany over coming years reaching 2% of the goal of gdp committed to defense. she is already increasing defense spending. reforms were underway, starting a couple years ago when her
brilliant defense minister, who may wind up being merkel's replacement down the road, she recognized half their transport aircraft couldn't fly. troops were not well-trained. spare parts weren't available. germany, however he reluctantly is accepting the man tell of european leadership not only economically but in terms of security. meantime angela merkel, who i admire tremendously, we underestimate that woman because all americans knows, she screwed up immigration. she has been the savior of europe through economic crisis. she is the moral leader and led the resistance to vladmir putin's aggression and generally insidious behavior. so i see her as a heroic moral figure. she is going to come to washington tomorrow, sit down with president trump with three things on her agenda. one, convince him that vladmir putin is the enemy of everything
we value. two, convince him that nato is indeed the indispensable alliance in the world. and three, she is a free trader, within limits. we have our limits with free trade. she doesn't want large import taxes on mercedes, bmws, and audis. that is the selfish part of the agenda. this is really important meeting, stuart. stuart: sounds like it could be a clash as opposed to a meeting of two allies. could be a clash coming up. >> she is skillful. she is detail oriented. master of detail. she is very good psychologically. she has been doing this a long time. she is the germany's longest serving counselor and on her way to being the most influential german politician since the first of free germany. watch this meeting. stuart: watch this meeting. watch this space. thanks very much, ralph. thank you, sir. check market scan.
rear view cameras. self-driving car technology. that is what intel is buying. that is what it is paying $15 billion for. this we have for you, president trump did indeed speak with palestinian leader mohamed bas, mahmoud abbas, friday night. all we got that president thinks peace deal is possible. liz: invited palestinian leader is invited to white house in the future. whether he agrees to two state, one state. palestinians didn't like one state. president said to netanyahu hold on to the settlements. stuart: forgive me for being cynical. we showed you earlier sean spicer being harassed in an apple store, tammy bruce has a follow-up on this the woman who harassed him is what? >> yeah, look, free beacon is reporting she has written a piece where she says she is the
one who organized that attack on betsy devos that kept her out of the school she was trying to access. so she is promoting herself as being an organizer of these kind of dynamics. that attack was condemned by al franken, arne duncan, barack obama's secretary of education, saying this is not the way to do things. now she is promoting the spicer video in light of saying that i was the organizer of that effort as well. so, my concern is, is, makes it seems as though the apple confrontation was not organic. stuart: it was organized. >> is he being followed? we need to ask questions. stuart: bad news, if any of them are being followed. that is very bad news. we're off about 50 points, rougy, 4 4points. 20,856. presidentrump stillweeting you the viewer not happy with me saying he should stop it. we'll have more "varney" a moment.
stuart: how would you like this on your house? this is by the way a house. this is in webster, up state, new york, right on the shore of lake ontario. that is an eire house covered with ice high winds in the area cause water from the lake to spray all over the house and it promptly froze solid as you can see. by the way, 150,000 homes have their power knocked out in that
same store. that brings us to this. expecting storm on east coast. fox news meteorologist adam klotz in the weather center. >> talking about a lot of snow. some cases up to six inches, maybe up to a foot, beyond that. maybe two feet in spots. we're still clear out there right now. bringing system from the midwest. system from the south lifts up into the mid-atlantic through the northeast. beginning after midnight tonight from tuesday, into tuesday afternoon. we'll lift on out of here by wednesday. you start to get really deep blue colors. you're talking about a foot of snow. that is fairly widespread. there will be areas where snow fall totals up to 18 inches. maybe up to two feet.
those will be isolated. nonetheless this is widespread event we're looking at good 12 to 16 inches of snow 50 to 70 mile-an-hour winds with this one. stuart: that is a blizzard. >> it is. stuart: thank you you, adam. appreciate it. the big board is coming back a little bit. we were down 50. now we're down 39. not much of a comeback but not much of a loss any way. fresh all-time highs for facebook and alphabet. facebook getting very, very close to $140 a share. alphabet up another three bucks. onard and upwa. that gives us air of the capital markets subcommittee. republican from michigan. highs zynga. >> emsis on the first part. stuart: call me varney. bill, welcome to the show. >> thank you, stuart.
stuart: a lot of people on our production team very upset about dodd-frank, what it is doing to them getting a loan from a bank. >> yeah. stuart: they have had all kind of trouble. you chair the capital markets committee. are you doing something about that this year with dodd-frank. >> yeah. stuart: you are? >> absolutely we have to. it is called the choice act. the choice act is comprehensive response to dodd-frank which most people know was an agenda waiting for a crisis. they junked it up with all kinds of stuff that wasn't even really relevant to what happened in our economy but -- stuart: the way i saw dodd-frank was that you just stick a huge bureaucracy on top of every bank in the country. the worst hit were community bankers. they can't afford all of this it is messing them up. are you removing that huge bureaucracy. >> that is one of the goals to do that. how we do that, to make sure we first and foremost keep our customers and society safe make
sure the system is working for people, not against peop regulator, upo regulator, upon regulator has been added. the question to what end? has it made the system safer? you've seen free checking go. all the different free services banks provided. especially the regional and small banks, they have really paid the price when it comes to layers of regulation. stuart: what we don't want to go back to the case of liar loans, no doc liar loans. >> yeah. stuart: we're not going back to that, are we? >> absolutely not. we can't. my background is real estate and developing. when i graduated with my oh so employable political science degree, i went into real estate the first time. i remember sitting at first closing they slid a check across to the buyer around seller. wait a minute, something is up here. we have to make sure we return to normally here. the american people need it with
a banking system that works. stuart: daniel tarullo will leave the federal reserve. i believe he is the governor. he is the guy imposed a lot of regulations in the banks. he is going. any idea who will replace him. >> not as of yet, that is very, very important position never filled by the obama administration. governor tarullo filled in as the regulator calling the strikes and balls on this. we need somebody we can talk to and hold accountable directly in congress. stuart: dan tarullo wrote the nutia, thees omany occasions. >> yeah. stuart: so you want somebody in there who gets rid of those rules? are you going to do this? >> we need somebody who understands all of the impacts of it, both positive around negative, make sure we have the balance. we'll not put customers in danger but we've got to make sure the system actually works and liquidity in the marketplace is there. stuart: do you recommend to the president who you think should fill that post? >> he's got a pretty good list going so far.
i'm not going to take anybody specifically but there have been names there getting floated out that make us all feel good. stuart: you will get relief of community bankers i know who are watching this program as we speak? relief is on the way? >> absolutely. stuart: guaranteed? >> as much as you can guarranty anything in washington, d.c. that's the problem we might v you have the house, the senate and the white house all have to to agree, but there is lot of consensus that community bankers and regional banks need relief and to large banks as well. stuart: having said that. later we check the bank stocks. they might go up some more. bill hui-zenga. >> very good, stuart. stuart: our next guest spoke to kellyanne conway about president's twitter use. >> president's use of twitter is effective communication tool but sometimes lead to stories that
take away from tax cuts, obamacare and -- >> not for the people. i disagree. the people at large, it is a big country out there outside of the know itals, the big country listen to joint session of address. they know he is man of impact and. stuart: he is with us this morning, "mediabuzz" host, howard kurtz. the answer is he is not going to rein in his use of twitter. that is not exactly reading between the lines, either. he is not going to rein it in, is he? >> no way, no how. i agree it is effective way for president trump to get his message out to millions of people and drive the news agenda. the point i'm making with kelly con wray, context has been series of weekend tweets where the president ma unproven chargegainst barack obama being wiretapped. that i think stolen some of the spotlight from the focus on replacing obamacare and other issues that he he is pursuing. stuart: he gets in his own way to some degree. he is fighting himself when he
comes up tweet that is not factually accurate. did he get the sense that kellyanne conway might rein in more erratic tweets? >> i actually talked to her about this before. nobody is growing to take the president's twitter away. he is 70-year-old man. you are not grabbing his phone. certainly people around him, know for a fact, urged him not to stop using twitter, stop using twitter as a diversion. because as you say it can take spotlight off things that administration is pushing. i do think that, he has fun tweeting about arnold schwarzenegger leaving "the apprentice." it's a fair shot at the media, stuart, we tend to chase a lot of these sideshows. when you have one president accusing a former president on twitter, essentially committing a crime, they can't then turn around, you people in the media, you're not willing to cover your agenda. stuart: our viewsers got extremely angry with me suggesting he maybe rein it in a
little bit. they like the tweets. they love it. but that is "varney & company" viewers. okay, now the media's response to president trump requesting the resignations of those 46 attorneys general appointed by president obama compared to how they portrayed president obama doing the same thing in 2009. this is from the left-leaning "politico." sure you seen it. res our viewers. in 2009 th wte obama to replace u.s. attorneys. and now, as of now, trump team out ofs obama appointed u.s. attorneys there. is a difference in the media's cover of the ousting then and the ousting now, is there not? >> this is huge difference. basically a non-story. these are political appointees replaced with every administration. bill clinton did the same thing in 1993. yet it has been on the front pages. it has been on the top of many newscasts as if because donald trump is doing it, it is sort of suspicious or nefarious,
what investigations is he trying to stop. you know, everybody knew this was coming. these people don't have a lifetime right to the job. when obama did it and replacing bush u.s. attorneys, the federal prosecutors across the country it, was treated as neutral story as you pointed out with the "politico" comparison. stuart: howard, you're the one who follows this more than anybody else, i feel the media is hostile towards the presidency of donald trump than any presidency i can remember in 40 years in america. >> coverage of election, transition and young presidency has been not just aggressive, adversarial, there is underlying almost sense of alarm he is doing terrible things. not just firing of prosecutors. he is getting rid or wants to get rid of regulations and cut spending this is treated with scary headlines. this is why we have elections. when obama was changing the bush era policies the press was kind of in support of that and didn't
challenge it the way this president is challenged with everything he does. there should be aggressive scrutiny of every president. some of this is plain biased. stuart: you got it. media host. "mediabuzz" host howard kurtz. thanks for joining us. >> thank you, sir. stuart: quick check of those markets. we're still down about 40 points. that is where we are as we speak. that puts us below 20,900. still a very, high level. there is nancy pelosi, she says we have to read the republican's obama care replacement bill to find out what is in it. that got us to thinking. remember this clas from 2010? >> we have to pass the bill so that you can find out what is in it away from the fog of the controversy.
why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as 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. i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality.
introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. ♪ liz: now this. white house chief economic advisor gary cohn saying tax reform will be done by the end of this year. listen to what market watcher bob doll had to say about that. roll tape. >> we have the highest marginal coorattarate in the world, stuart, as you know. we have got to get competitive. that is one place. we need tax simplification so people can understand it. stuart: if we get tax reform this year, i don't when, this year, are we looking at three, maybe 4% growth year? can we do that. >> we have shot several
it is still around $1200 an ounce. 1204 to be precise. now this. president trump fires u.s. attorney preet bharara after bharara resuesed to resign. here what congressman elijah cummings had to say about all this. >> you think there might be a connection? >> there very well may be. again, george, when you come out and you make allegations as the president has which can not be proven, and then you find out that things are not true, you have now created a new sense of normalcy. he needs to be careful what he tweets and what he says and do less tweeting and do more leading. stuart: okay. well that was elijah cummings talking about firing preet bharara over weekend. joining us is ken starr. former solicitor general to the united states of america. ken, welcome to the program. >> thank you. stuart: i will ghetto your book
in a second. i need your commentary about preet bharara and this about him being fired. is there a story here or political turmoil. >> the latter. it's a story but happens in every administration or virtually so. the u.s. attorney serves at, pleasure of the president. we have legislatiand elections have consequences that is the end of it. sense there could be in the investigations my sense any investigations will continue. stuart: we don't know that. there is suggestion from congressman cummings. he was fired because he was investigating the president. we know nothing about that whatsoever. >> it is allegation. it is absolutely right. we don't have facts. stuart: is preet bharara grandstanding politically, do you think. >> absolutely. any u.s. attorney knows that he or she can be fired, period full stop. most of the 46, i think went quietly off into the night. they may not have liked it. but that is the way our system is.
stuart: it is amazing you get this political turmoil throughout the entire weekend, stretching into today what you describe essentially as non-story. that is astonishing to me. >> effectively is not a story in terms of our government. it is a story in terms of politics. stuart: i want to get to the book. you're the former president of baylor university. you left amid a sex assault scandal involving the football team. you wrote about your experience in your new book. the new book is titled "bear country, the baylor story." you were there throughout this baylor story. what is your conclusion about the state of universities in america bearing in mind the scandal that you lived through. >> it's a mixed state. first of all american higher education i believe is highly responsible for the culture of freedom that we have in this country but we see in various ways it is unassault. we saw it recently admit dill bury. at, middlebury. it is unacceptable college students shouting down,
interfering with freedom of speech. a university is conversation. in my six years i'm convinced that is the university at its best. it is place where be robust conversation and students to be challenged. my second point is, relationship between faculty and student is precious and needs to be preserved. higher education needs to do everything it can to sanction that relationship and foster that relationship. that means online learning has its place but it is no substitute for that basic relationship. stuart: to be specific, there is a lot of criticism which says the baylor football program should have been closed down because of what was going on in it for some years. your comment, sir. >> i have a totally different perspective. the football team was a very fine group of young men. there were one or two or three issues. those issues have been, i believe fully addressed. i believe the university continues to be a safe place. it is always been a safe place. and we always had an open door if there were issue with respect
to student safety. we focused hard on student safety. so i have a very different perspective. i believe in our football coach, the former football coach. so i think frankly that once we know all the facts, i called for transparency, let's have all the facts. we've been dealing with allegations. let's have all the facts out. stuart: kenneth starr, thanks for joining us this morning. we appreciate it. >> thank you, sir. stuart: take a look at this. bank fees, what you pay for an overdraft or something, at all-time high, $666 average per customer each year? i can't believe that. that can't be right. can't be right. liz: they have been steadily rising for 10 years. this is annualized basis. atm fees, overdraft fees, the fees you maintain checking account. 5.4 billion collected according to one analysis. got to be so disturbing for bernie sanders, who made it a campaign issue last year about bank fees. stuart: i got to check that
number. i simply can not believe the average customer pays $666 per year in bank fees. i don't believe it. liz: includes everything. stuart: i will have to check that out. liz: sure. stuart: thank you very much, liz. the dow 30 are trading down 41 points for the dow industrials. there you have it. a lot of red on the left-hand side of the screen. up next, you the varney viewer, you have a bone to pick with me, has to do with grammar and the use of english. we'll set the record straight after this.
stuart:ome of you have problems with my grammar. perhaps my use of the english language. here is what david had to say. first off from him. we got to, or we gotta. or we've gotta are language pollution. i challenge all of you to neither use got incorrectly or gotta for a full week. anyone that is not a guest should donate $10 to a local charity for each offense. just gotta get on board with that one, lizzie. liz: i gotta to get on board actually. i like the $10 and i like the language pollution crack. i thought that was funny. stuart: david is correct in the
use of the word got is ugly and gotta is kind of slang which one shouldn't use. i take the point. we try to make it conversational on the program. liz: yeah, we do. stuart: occasionally we slip into -- liz: we don't use things like irregardless which makes me crazy or wores like per se which makes me nuttier. stuart: here is test for you, liz? what is the wrong with the following sentence? my mother told me quickly to run to the story. liz: split infin tiff. stuart: excellent, lizzie. take that $10 back. goes back into your pocket. all right, good use of language or otherwise we will be back. hi my name is tom. i'm raph. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom.
soundbite again come up a lot more than speaker nancy pelosi said you've got to nancy pelosi said you've got to price the obamacare bill before you can see what then appeared that was i'm sure you'll agree across the beard we didn't get to see what was coming at us and the democrats pass it anyways. keep your doctor, keep your plan, et cetera, et cetera, et cetera appeared obama carries on the block. republicans have a plan to replace it appeared here comes leader pelosi with a complete turnaround. we have a right know within the health care bill before it happens. that's what she is saying now. my how times change. having made a massive health insurance system and wasting vast amounts of money, nancy pelosi is standing in the way of fixing the mess. so far the entire democrat party is doing its best to stop a barak obama care reform. no wonder politicians are held in such low esteem. president chavez meeting the terms of obamacare.
but nancy pelosi will ever own up to is the extraordinary rise in deductibles, double-digit increases in premiums, the lack of choice, the loss of the plan you of the plan you like, the loss of a doctor you like what the drive towards part-time work that obamacare encouraged. if we had been allowed to see all that before we voted on it, maybe we wouldn't have voted for it at all. the third hour of "varney & company" is about to begin. ♪ i know it. that is no part of the hot chili peppers. got that? am i good or what? the northeast will see a lot of it. a lot of it one to two feet in
the philadelphia to boston corridor. maybe more than that. a lot of people making plans what on earth will do. dow industrials down 38 points. the market shoving off negatives that will be coming out investors this week including a probable rate rise on wednesday in elections in europe. look at what we call storm stocks. there is a blizzard company no-space said. more than a foot of snow from maryland to boston. very strong winds. >> 60 miles per hour. >> that's a blizzard condition. a lot of people think what are we going to do? how will i take care of the kids and how do i bundle them up to go outside for five minutes in the freezing cold and warm them up when they get back indicated. next case right now, president trump meeting with victims of
obamacare. making some remarks. we will bring that to you as soon as they happen. the congressional budget office will release the price tag on the republican health care plan this afternoon. the former congressional budget office director. welcome back to the program. good to see you again. >> thank you. glad to be here. >> i get the impression the left is waiting to shoot down the score, cost of obamacare replacement plan. what do you say? >> provides information. whether that helps or hurts democrats or republicans depends what they try to accomplish. cbo will say this legislation causes a substantial drop in the number of americans with health insurance. speaker ryan said that wasn't the way he would judge the plan. if a lot of people agree with him that's not a way to judge a plan, the number will matter
less. if a lot of americans think it's important that health insurance, the number will matter more. >> and told the cbo got it badly wrong when they were scoring obamacare in the first place way back in 2009. as accurate a feed. you've got it wrong. >> cbo's predictions weren't fully accurate. they weren't as accurate as i wanted it to be. but they were a lot more accurate than the random guesses made by a lot of other people including opponents of the affordable care act. the cbo correctly said that employer-sponsored insurance wouldn't fall much. we correctly set the number of people without health insurance was all a lie. we correctly predicted the current level of insurance premiums than overestimated, not underestimated those items of great dispute at the time and cbo was more right than other people were. that doesn't mean you should take numbers as precisely
accurate. nobody is more right than people of the uncertainty surrounding any estimate they gave an big change to a policy like this. stuart: i am told that the cbo scoring when it emerges today is going to say that there is between six and 15 million people to lose their coverage and because of the writing plan were enacted. does that sound about right, six to 15 million lose coverage. >> the high end of the racial glasses and i don't think anybody knows cbo keeps the information to himself until the releases to everybody on the hill. stuart: what bothers me is you've been wrong before. i don't think you are deliberately wrong, but you've been wrong before. i'm told that the cbo vastly underestimated the eventual cost of obamacare and the numbers
this afternoon and thoroughly believable enough for something to be a done in any plan to replace the failed obamacare. that's what worries a lot of people here. >> i don't think one should be cbo estimate does possible. there's uncertainty around them. in 2010, a number of americans under age 65 without health insurance was 50 million now that's 27 million. that's not the 21 million cbo did. it came down a long way because the law included subsidies in a mandated penalty to buy health insurance. if you take a mandate away the subsidies back substantially as the legislation will, it's not a surprise that he will undo the gains in health insurance corage. the magnitude of that depends on
a lot of factors in which cbo will make its best estate. the fact that the effect is large shouldn't be a surprise to anyone and i don't think it is a surprise to speaker ryan. that's not to say he he's focused on as he said yesterday. you have to decide whether you care about health insurance or not. stuart: we appreciate you being with us. thanks for joining us. members of the house intelligence committee want the trump administration to produce evidence that the president's wiretapping claim. all rights, judge andrew napolitano is here. can we say trump towers up? >> intelligence sources have told fox news it is more likely not hec hq, initials for the british intelligence system, very fine system of intelligence was utilized by the white house to spy on president electron. candidate trump and president-elect trump, thereby avoiding the fbi, nsa and cia,
thereby making valid claims by admiral rogers who runs the nsa and general clapper who ran the office of director of national intelligence denying he knew anything about this. stuart: what is the significance? >> the significance is profound. if the president is using foreign intelligence services to spy on americans at the very serious allegation. to spy on political opponents, that's back to richard nixon. that is condemned by the congress and the whole reason fisa was written. stuart: is sameness, the british intelligence service was listening in. >> intelligence sources including one who was a member though gchq. these are credible people in the past.
the president was trump was told by someone in the nsa and fed by the way, can we tell you something in private without the others here. i'm speculating this. you are spied on while you were running in while you were running the transition. we have a pretty good idea who did it and it went directly to the white house. the people that said that, if that's how it came down. the nsa now works for him. with a phone call to admiral rogers, the head of the nsa, he can get the data and give it to the house intelligence committee and give it to the senate intelligence committee. the house intelligence committee has made the demand as well. there are over 100 people, agents of the federal government, house, senate and fbi looking for this. are they chasing a phantom or something that really truly happened. intelligence sources say really
happen. you could write a novel about this site know that we don't know where it's going to go. stuart: general kerry could write a book about this. thanks for the information. we appreciate it. a new gallup poll says 54% of us are optimistic that president trump will make the u.s. prosperous. they think he will be good for money. question, why is president trump so unpopular in silicon valley? they are all about making money, returning prosperity. scott mcneely is here to answer that question.
we seen in a long time. over 100 ceos each come in and tell us about what they are going to do, hiring, growth, opportunity they see, ability to bring jobs back to america. jamie is right there in low spiritout there. stuart: you hurt him, chief economic adviser for president trump talking about animal spirit. look who's with us now. scott mcneely, the former systems chair and ceo. what do you know about animal spirits in california, scott? >> that's a personal question. i'm not sure i can answer that on national tv. i will say i talked to a lot of ceos and men are much more optimistic. they finally see somebody interested in the economy and interested in eliminating regulation and making it easier for people to higher and grow their businesses.
they can't talk about that because a lot of consumers out there are really put off by trump so they want to make sure they don't is some portion of their consumer base. behind closed doors, all they can talk about is being optimistic. they can't talk about why. stuart: fascinating. we've got this poll from gallup. 54% of americans are optimistic president trump will make us more prosperous. half the people say trump will witness one. >> must not be a silicon valley poll. stuart: exactly. why is president trump so unpopular in silicon valley? >> i don't know. i don't know that i have been a unique perspective. certainly the style is not wanted -- the things that are little big unique year, a wonderful little bubble, beautiful weather, beautiful environment.
terrible traffic. but a ton of money gets ported to hear through the community and the juniors are more than happy to move to the bay area so they can be part of that money. there's a bit of an economic bubble here of great weather, no bugs and lots of money and lots of jobs that makes us immune to understanding what the rest of the world and flyover america is facing new jobs and prosperity. that is part of it. the media centricity out here -- i don't think english major is necessarily studied civics and economics and i don't think really great engineers necessarily spent a lot of time on that. i don't think we all understand the loss of personal responsibility, personal liberties and freedom in moving towards socialism and how it's impacted the rest of the country.
that's the only thing i can come up with an all probably get a lot of twitter hate mail i'm not. i don't know. i don't understand it. i understand his style is not something if i had a daughter i would necessarily say that's the style you want to have, but in terms of somebody whose the developer can understand how the economy works, i've always had the worst ceos a thousand times better than the best politician. stuart: i will quote you on that one. that's a good one. do you remember when you described snap on this program is a banana. i will refresh your memory by rolling tape. >> a lot of the content pod snapchat doesn't strike me as absolutely critical and has a shelf life of a banana. look at things like lincoln and facebook and other things, the relationships are cap there for a long period of time and are
not more durable and that becomes an easier thing to monetize. stuart: snap one out of 24. it's now trading around 2150. that's not exactly a huge pullback. any change in your judgment is not present is the? >> again, the other part of the conversation is you've got the eyeballs of a surrogate captured a very interesting demographic that will come into money. the question is can they maintain. it is really hard to predict where the kids will go, how long they will stay there and there's some interesting modernization opportunities available. but they've got a big number two per room. i am all for finding better ways to match buyers and sellers and there's a very interesting demographic. there is very interesting partnerships with all the social media companies to go help bring
buyers and sellers. stuart: would you invest in it? would you put anybody in snap yourself? >> you know, i'm putting all my money into things, wade which i'm chairman of creaky.org which is mike is back, my nonprofit to try and help education. i'm not a big-time investor out there. stuart: okay, we hear it. we appreciate you being with us. see you again soon. check the market. a lot of read out there. looks to me like about 17 of the dow 30 stocks on the downside and the dow itself is down 47 points. airline seats and their size may be regulated. legislation to keep your seat from shrinking even more and your legs a speed used up even more. details about that next. ♪ at angie's list, we believe
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stuart: passenger advocate stopping -- liz: they want them to stop shrinking your seats. they played deep vein thrombosis, also the space between airline seats as well. they want that to stop shrinking as well. they also talk about the dangerous it is to evacuate people when you cram so many people on an airplane in such small tight places. stuart: the safety element allows for legislation to keep people safe. it w foromfort andotng else, theyave no role creating
legislation. they direct the faa to sell airlines to stop. stuart: you pay extra now if he won a little bit more like space. at the white house, right now president trump is still meeting with what we call but terms of obamacare. we will hear from you at the meeting any moment now. you'll hear it when we hear it. back in a moment. ♪ travel roller derby. ♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love.
prudential. bring your challenges. why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as 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.
>> republicans are split on how to replace obamacare. i say president trump has to get involved immediately. bang heads, negotiating come up with a plan. karl rove is with us right now. i want to see if he agrees with me. this is a moment when president trump has to step in to make all red compromise a little for the freedom caucus compromise a little. it's got to be the president who does the va >> i think that's accurate and i think he's doing. the freedom caucus members coming down to go bowling in the
old executive office bowling alley in a bowling alley and enjoy some pizza and talk about the bill. he's clearly been working the phones and having people down to the white house for meetings. let's be clear, his involvement in getting a bill that will pass the house is not the end of the process. they will be a bill that passes the house, but it will be different than the bill that passes the senate and a conference committee taking place later this year between the house and senate members and he'll need to be involved did not. this is an amending process. stuart: the whole year? can you go through this process with obamacare and still get a tax cut is read to? >> yeah, i think so. it is complicated because in the house and senate, both of these bills have to go through the same committees. they both have to go through
house ways and means and senate finance committee in addition that the obamacare bill has to go through the energy and commerce committee in the house and senate where the tax cut simply goes to ways and means through ways and means and housing finance in the senate. it is a complicated measure how the constitution was designed to make it difficult to pass legislation. this is not the only moment the president will need to be involved. this'll be a long process and he'll need to be involved a lot. there's a recognition of that at the white house. stuart: the president seems to be getting involved. he says he's committed to the health plan that ensures access for everyone came out with a tweed early this morning. come on get together he is saying. he is starting the process. you say it's a long process, complicated. most people want something clean cut. that's what they want. >> remember love, democrats
passed a bill. we remember the moment at february 2010 when they pass the reconciliation measure. that was to fix the build a dirty pass. they have 60 democrats in december, but they had to fix it. they have so many errors they needed to fix it with the reconciliation measure in february the next year. we are now trying to do in one step of the democrats did in two steps the regular order. they pass a bill on obamacare and had to fix the bill to reconciliation. even on the best of days, if you have to do it for reconciliation a chance to be tougher because you have to design each measures so they can sustain parliamentary challenge on what is called the byrd rule. robert byrd has to be germane, has to affect money, can't affect new money and that's
difficult to do. traded to the president also said americans will be able to pay for health insurance plan and will be able to pick the doctor they want. that goes towards the element of choice restored to the individual appeared both sides want that. mr. ryan in the freedom caucus. >> i believe so. the question is how you get there. there's unanimity on a lot of things that we have to get rid of the $700 billion in subsidies, new taxes that we had to change. medicaid uses by returning it to the states and putting an emphasis on medicaid serving vulnerable populations and less likely that it serves a single adult without children. those people ought to get a job and get the health care provided through their employer over some form of support is in the house built for a refundable invincible tax credit. but there's a lot of agreement on a lot of things.
increasing on a sunday you can say for out-of-pocket medical expenses. expand which you can use your hsa on. they're significant details on which they don't. stuart: to your point, the president has said it will take a year or two for prices to go down on the republican health plan. that's not what a lot of people want to hear. >> i agree. it has taken us from february 2010 ticket is messed up as it is and will take time to undo the damage. the house plan tries to increase competition by saying her 15 million people self-employed who don't get the same tax advantages someone who gets a provided by their employer. there are millions of people who work in small businesses. 2.1 million small businesses with fewer than 20 employees. people generally don't get the
coverage from their employer. but the house bill attempts to do is create equal treatment for everybody in america. if you get the insurance from your provider or pay for itself, you can equal treatment the same tax advantage available to you. the individual market in small group market will see a gigantic expansion over several year. and with the expansion of the market will create downward pressure particularly when you expand health savings accounts that would you can use health savings accounts for. a fundamental reform of health care will take some time to let the market come into play. stuart: president trump supporters have to have some patience on this one and it's a difficult thing to askor when we been promised a lot very quickly. thanks for joining us. it's a pleasure. see you soon. senate majority leader mitch mcconnell did say last week
that tax cuts are unlikely to be completed and signed and delivered by august. now listen to what gary cohen, top economic adviser to the president said on this program last week. roll tape. >> we will continue to work on tax reform till we get it done. it is a stated objective of the president to get tax reform that this year. we are prepared to work through the recess. we are prepared to stay here and work on it. we can work on it in the fall. we need to get it done this calendar year. train to what we think is important is how long it takes to get obamacare replaced in a tax reform deal in place. joining us now, former senior staffer on the hill and the author of the book the great equalizer, david schmick back with us today. i've taken a lot of heat from our viewers talking about tax cuts a lot of the time and then being very impatient. you've got to do it now.
it looks to me like the timetable is slipping and slipping in what we heard from karl rove doesn't karl rove doesn't fill me with this tape. would you say? >> i think you have reason to be concerned and i'll tell you what my experience was that the 81 tax cut. as a way the white house can handle this right now. the president announced tax reform, provisions will be retro back to to the date of the migration. that way businesses feel confident they can make some plans now. they need to do that. i'll give you a little bit of a history of this. in 1981 when i was working on the reagan tax cut, we felt just as confident about the economy has everybody feels right now. we started to negotiate had made a mistake. we agreed to cut the first
year's tax cut, 10% cut on individuals. we agreed to do it only a five-year tax cut. the next two years we delayed and we played to the deficit warriors. the final year was delayed for two years. essentially we are sitting there. voelker was raising interest rates. of course he was crouched in the economy to bake the ventilation. the point is that was held. the economy can turn quickly and it turned on us and 82 with the republican bloodbath. don't assume anything when it comes to the economy. i personally think that ryan can get -- i talked to him this weekend that he can get the tax reform through the house by august. the problem will be the senate. the president ought to be in the back of his nine prepared to insist that the senate stayed in through christmas.
but if i get done this year. stuart: he could do that. they could make sure it happens and they can't go back to constituents for christmas or midsummer. just stick around and do it. by the way, make a good to the date is finally signed. good idea. you can make it retroactive to the non-duration day. they should be sent the message it will happen. the gamesmanship and congress. there should be no doubt that trump will deliver. there's some revenue implications and make it retroactive because you can't assume anything. fed chairman alan is so confident they are coming back to present inflations. i look at the european economy and papers all this confidence comes from.
everybody else is growing at one, 1.5%. the headline inflation which is up to 2% on commodity pricing and anybody who follows china knows that the chinese investment community has moved from real estate to commodities and they are running a global commodity markets and having an effect on europe that's a bit of an illusion. the fed is going to be raising rates sink in the rest of the world is suddenly doing great. stuart: i smell trouble. thanks for joining us. we appreciate it. by the way, the chinese leader we are told is going to be visiting mar-a-lago next month. thanks so much david, see you again soon. the three big credit agencies that will be at colfax comics. and trans union will exclude negative data.
you've got a tax claim against you in a civil court against you. the report from your fico score. why are they not? >> regulators have looked at the credit report and find out thousands of complaints. there's misinformation on my report. the consumer financial protection bureau says since 2012 through february, more than 186,000 complaints about these reports being wrong. >> a lot of people pleased to hear. the secretary, here's my question. who pays for people when they get hurt or injured? one of the sticking points in obamacare reform. we will ask that question back in a moment.
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gold is gaining. we are also watching materials to the upside. watching the oil overall and right now 4826 a barrel down for the sixth day in a row. marathon, eog, chevron wayne on the s&p 500. intel finally mobilized. this is really delving into more high-tech self driving cars with $15.3 billion deal. chipmaker trend in the s&p 500. the morning of march 20th. keep your right here on fox news.
>> president trampling the meeting on health care. joining us now, deputy secretary for the lily u.s.a. president. trying to get the two sides together to agree on a plan to repeal and replace obamacare. i got it. if a poor person gets sick, like cancer or something serious, who pays? >> we all do. we all did before obamacare. we are now one drop but care well under the house plan. we fund community health centers.
we fund nonprofit hospital systems who is part of their mission are supposed to deliver care to indigent and give subsidies called disproportionate hospital payments to reimburse them for that. we pay by subsidizing medicaid to get poor insurance packages. care is available, just how it ends ugetting paid f reimburse. >> the freedom caucus once to get rid of obamacare totally and completely. would either of those two plans change they made sure of who pays when poor people get sick? neither plan would change things. >> to change the nature of who pays and how it's paid for. what it does is kill back this very huge medicaid expansion that occurred during obamacare. we had fun at the medicaid expansion in part by pulling back these hospital subsidies.
things that are called cash payments, disproportionate share hospital payment would take care of the poor. we pulled those down. and medicaid expansion for restores this payments to hospitals over this period. the state that didn't do medicaid will all of a sudden get the payment and start getting their payments back. the additional funding for community health centers that provide health care to the poor. stuart: do you know anything about the freedom caucus plan? >> could be simply to repeal obamacare. that restores it to before obamacare. you get rid of the medicaid expansion entirely and you would have this payments completely come back immediately whatever the date of the transition is of that moment.
train to whatever new plan is put in place, poor people who suffer a catastrophic illness will not be left out in the cold. can we say that? >> that's one of the beauties and has been and we can take care of those who don't have insurance. listening, it is still better for people that have insurance and that's when the house plan is working to create more affordable levels of insurance for the poor as well as everybody else in the individual market. longer term we ought to get people into insurance for their medicaid or the individual market with lower cost alternatives and goes down. >> the money that goes to poor people if they've got insurance or something like that, the money that goes to them will in future go in the form of a tax credit. as opposed to a straightforward government subsidy. would the tax credit be up to
the job of taking care of them? >> what you need is a tax credit when it gets out there will create a marketplace for individual insurance. with tens of millions of americans having a tax credit to buy insurance, the insurance industry will see that as an opportunity to come up with flexible, affordable vehicles especially because the house plan gets rid of so many restrictions on individual insurance and admitted so unaffordable for young healthy people have not employs a big companies through big employers. >> everything will be taken care of. when we get this plan through, the left is going to say this afternoon the cbo will score this thing and say six to 15 million people will be left out. coverage will be taken away from them.
is that accurate? >> it can be accurate. first it assumes obamacare stays the way it is and it's going down the drain. the market is collapsing. the status quo is not what they are saying it is. secondly, you reform the individual market. right now they are making young people subsidize older people are artificially high premiums. they will fix that for people pay more of the third age cohort is costing the system. polling for the sickest people and creating vehicles through an hsa is and for tax credits to create a slew of money available for people to get into this more affordable market. stuart: have got to cut you off but you satisfied the question. nobody is left out of the cold. we appreciate this because it's very complicated stuff. next up, karen hayes is a
professional bowhunter. fighting to protect public lands on future generations of hunters. you'll hear the story. i've got a few questions. ♪ at angie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. ♪ [ toilet flushes ] ♪ so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. because your home is where our heart is.
into there's a debate in washington about taking federal land and handing it over to be controlled by the state. a gentleman on the right hand side of the screen is a professional bowhunter. i want to know whether cameron haynes approves of taking federal land out of the house the five and putting it into the control of the states. >> i'm against it. it takes a lot for a spin of federal grants from the feds come in it to the state which we want the federal. stuart: what's wrong with the states? would you as a bowhunter be excluded if the state controller rather than the feds? >> no, wn't. the state has enough to do already. they have a lot of responsibilities. in addition to do everything they do and pray too thin already in many places, they
have to enforce laws on federal lands which is millions and millions of acres on of acres and it's just too much to do. stuart: you think you should stay with the feds because they've got resources to police for the right place. is that right? >> yeah, that's what they are trained to do. it's what they've been doing. there's a problem with how it's working right now, let's pass legislation if there is a problem. for some reason congressmen chaffez wanted to kick the can down the road. let's bone up on management of federal lands and make them are valuable. it can't be too much of a paper on public lands is up in the billions of dollars. 646 billion has created 6.1 million jobs. fairly successful as the days.
>> this bill, h.r. whatever it is, how many acres would have happened from the feds to the states? >> 437 acres. stuart: that's aays kind of federal land. >> that's a huge piece of country. alas, there's an upside for lancet delete 18th century, 19th century. as we've moved west, it is going to control that land. there's resource out there so it's a balance of taking the most resource from the lan and also that the maximum yield. we also want multiuser non-is where hunters and fisherman and acres, why we care about it. i wouldn't be sitting here today if it wasn't for the experiences i've had on public lands. fighting to make sure future generations have that opportunity.
stuart: i've never met a bow hunter before, but i just met you. we do hope that federal lands continue to be used by supporting people like yourself. thanks for joining us. >> thank you, sir. stuart: i want to reiterate the sidelines being held now in the white house with president shrum. he's is meeting with victims of obamacare. first of all, the president committed to a health plan that ensures access to everyone. americans will be able to pick the plan they want and that after they want so the president is committed to the idea of choice in health care. but he does say it will take a year or two for prices to drop under the gop plan. that will be right out without one. that's probably going to be a negative. we also hear the actual reform of obamacare is going to take a very long time.
a long process, three steps ago that could crowd out the tax cuts became more difficult to get it done this year. markets paid no attention to that. down 20 points. 20,882. my time is up. charles payne, it's yours. >> thank you are a match. payment for neil cavuto. we're awaiting congressional score the republican plan to overhaul the health care system. president trump discussing the plan moments ago. peter burns at the white house with the latest. reporter: that's right, charles. the so-called victim of obamacare see their premiums go up. people have seen their deductibles go up a lot. the president still in session right now and some of the headlines to her was just reporting include trump saying they will take a year or two for prices to go down under the republican health care plan that