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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  March 24, 2017 3:00pm-4:01pm EDT

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with what they're seeing out of washington because if we get a delay on tax reform, that means that that is something that wall street has been looking for, hoping for, and rallying for since president donald trump of course elected back in november. that is it for me. ashley webster in. ashley: it is too early to say that the obamacare repeal is on life support. but might have to pull the plug. you are looking at live house floor, that vote, by the way, could come at any time. we think. speaker ryan briefing the president early this afternoon when it appeared there was still not enough votes to approve the american health care act. at the white house press briefing, press secretary sean spicer said the president is confident that the white house has done every single thing possible to fulfill its promise on health care and that it is still working with paul ryan to pick up support.
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meanwhile the blame game if it fails has already begun. various reports have the white house blaming speaker ryan and the speaker blaming the conservative freedom caucus, the democrats meanwhile sitting back and more than likely enjoying it all. we've got all of the angles covered from the white house to capitol hill. congressman michael, john, will be walking us through this dramatic day in washington. and former medicare and medicaid services administrator explains the biggest problems with health care in america. on wall street, markets reacting to all the health care hiccups. we're watching a late day selloff as the markets wrap up its worst week since the election. you could say the same, perhaps, for donald trump. we are less than an hour to the closing bell. i'm ashley webster in for liz claman, let's begin the countdown. ♪ ♪
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ashley: stocks as we just noted as investors seem to be on the health care vote and perhaps it's not going the way of those who want this bill passed. the dow looking at the second straight losing session down nearly 100 points now. they added nasdaq and s&p also edging lower. in the meantime shares of transcanada moving to the upside today. right now trading up about a quarter of a percent. president trump giving final approval to the keystone xl pipeline and oval office ceremony this morning as you can see the permanent approval reverses an obama era decision to block construction. the project still facing legal challenges, though, in nebraska and south dakota. where else game stop getting crushed today after issuing disappointing earnings, as you can see game stop down 13%. the video game retailer reporting a more than 13% drop in sales. company also announcing it's going to close more than 150 stores and now focus on nongaming businesses such as cell phones and collectibles.
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but the stock getting hammered today. capitol hill, yes, it's crunch time. we could be moments away from crucial vote. as for primp, well, he's done negotiating. it's an ultimatum from the president vote to pass this bill or keep obamacare. let's get right to fox business blake burman who has been outside the white house. he's a busy guy these days. blake, deal or no deal. what are you hearing now? >> they are working, ashley, up until the final hours to try to get the american health care act across the finish line. the president was asked about this earlier today. he said we'll see what happens. paul ryan has already come here to the white house and left. the vice president mike pence has gone to the hill to meet with members there. this is all part of the last minute sales pitch here to try to get this across the finish line. there is definitely a different tone here, at least as it relates to the white house press secretary sean
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spicer. they were saying that they were confident, optimistic that they would be able to get this passed. however, earlier today at his briefing, spicer said they were confident that they have done all that they could do. not saying that they were confident that this thing would indeed get passed at some point here later this afternoon. the white house is framing it, ashley, this way. the president has done all he can do. the administration has done all they can do and now the pitch to conservatives is this: the white house saying you've been talking about this for seven years. act. listen to sean spicer from earlier today. >> make no mistake about it. i mean, the president made it clear last night. this is it. you know, you have an opportunity to do what you've told the american people, the commitment that we as a party have made. but this is your chance to do what we've done. we've listened, we've incorporated, we've updated in every way possible. >> ashley, there have been some reports that potentially there were talks of potentially yanking the bill from the floor, so i asked spicer about that during the
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briefing. he said, no, this whole thing is going to go forward. and when i asked him what about the mentality of the president -- this bill was delayed yesterday. so i asked him why did the president want a vote today? and as you heard from spicer there as he said over and over, the president is done negotiating. they want a vote and after that vote up or down, they want to move forward. that being onto tax reform and other big-ticket items. ashley. ashley: yeah, pretty clear-cut, the message. blake burman, thank you very much. all right. the real question here this hour is are conservatives up to president trump's challenge to pass this obamacare replacement bill or else? it seems like it's or else. let's bring in two republicans who are voting "yes" for the bill. congressman michael burges and congressman, thank you, both, for being here on somewhat of a very crazy, busy day. congressman burges, why are you voting "yes"? >> well, look, getting rid of the affordable care act, replacing obamacare is something i've been waiting
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for now seven years and a day. so i'm excited about the opportunity this afternoon. i think we've got a good product. i really thank president trump for putting his shoulder behind this and getting this done. i'm optimistic we're going to be successful here in the next hour. ashley: congressman, why are we at this point -- why isn't this thing going through smoothly? >> well, it's not easy. a lot of members be with i think, frankly some of the members on our side are accustomed to being in the opposition, and they're not accustomed to being part of a governing majority. and the fact is when you're part of a governing majority, the perfect shouldn't be the enemy of the good. we should try to advance the ball, improve the health care system as congressman burges said, and we've got some good reforms in here. we're keeping some of the things in the aca like preexisting conditions and kids on their parents plan until they're 26. but we're taking fundamental steps to reform the medicaid system to control its growth in the future and also to open up the insurance market so
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people have more choices in insurance. ashley: congressman burges, what do you say to the freedom caucus members? how do they go back to their constituents and say, look, i couldn't vote for this when a big part of the campaign was replace obamacare. >> yeah. that's a tough one, and i can't answer that. you do need to talk to those members. but should this fail, i think you can identify the people who are the architects of obamacare in perpetuity, and we will know who they are. ashley: congressman, former human services secretary tommy thompson speaking to my colleague neil cavuto earlier saying if this thing doesn't go through quote it's a huge impairment for the president, speaker ryan, and all republicans. would you agree? >> well, what i would say is that the pundits will prognosticate about what happens if it doesn't pass, our job is to go back and to try to figure out what we can do. hopefully on a bipartisan
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basis to figure out how we can restructure and reform the health care system. because the ata is not working today. obamacare is leading to increased premiums, highs -- very high deductibles, a lot of small businesses are being dramatically adversely affected. yes, some people have been helped. there's no doubt about that. so what we've got to do is find out how we can move forward but improve the health care system for all americans. >> i would just add that it's not -- certainly not a failure on the part of the administration. the time i've been here. i've never seen an administration as engaged on a issue as president trump has been. and i'm grateful for his -- for the enthusiasm that he has brought to this vote today. if it doesn't go our way, it's not on him. it's on us. ashley: all right. have either of you gentlemen heard when this vote is actually going to take place? >> we're expecting it will be some time after 4:00, 4:30 and so i think that's the
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expectation. ashley: is there time for this thing to get, you know, a lead, a new lease of life? or are you very worried about the outcome? >> look, i've been here through some tough votes in the past and sometimes you actually enter a vote not being entirely certain how it's going to work out. i've seen some of those things win. i've seen some of those things with the opposite of a win. i feel good about today. i really do think that there are has been so much effort in putting in to getting us to a good place and getting the "yes." i'm confident that members are going to -- they'll look deep in their souls and decide to do the right thing this afternoon. ashley: very, very quickly. congressman, you've had seven and a half years to figure this out. why are we at this point after having so much time to get it right? >> because it's so controversial and because it affects the lives of tens of millions of americans. virtually every american is affected by this in one way or another. so it's controversial. it's not easy. it's expensive. it's difficult, and they're entrenched interest wanting to
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defend the status quo. i think the left basically wants a single pair system for everything, and they are the architects of the aca anticipated that it was going to fail in order to bring about a single pair system. i don't agree with that. i think more government control is not the answer to controlling costs but also delivering high quality health care for more americans. ashley: all right. we'll have to leave it there but thank you so much. congressmen, i know you're very busy. thank you so much for talking with us. very quickly quickly i want to check the markets that have gone south pretty quickly in the last 15, 20 minutes as you can see the dow off 93, 94 points, the s&p down about a equate of a percent, the nasdaq also a lone holdout but that too has turned slightly negative. perhaps where the investors believe this whole thing is headed. so what happens if the health care act is not passed? well, there could be mutiny with some republicans setting their sights on taking down house speaker paul ryan. joining us now charlie gasparino with some breaking news on that front.
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charlie. >> there's clearly talk within the conservative ranks, i think you could say, of the house of representatives right now about taking on paul ryan if this thing should fail. and maybe taking them on anyway if it passes. by the way, if it does pass, you know, this market -- ashley: takes off. >> it's going to take off because it's obviously pricing in the notion that it's going down. but there is talk here. and here's where it kind of gets interesting. there is talk despite the fact that president trump came out today and offered what sounded like a voice of confidence for paul ryan. there is talk within the trump administration, particularly from steve bannon, his senior adviser about possibly ending -- removing ryan as speaker. so that's what we know right now that as of now, he's still the speaker. but he's losing a lot of confidence among conservatives and including bannon, who's raising the issue that this guy didn't make the sell. now, i should point out what's
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interesting about this is that the name bannon is talking about is none other than mark meadows. the congressman fro from kentucky who apparently thwarted this bill as head of the freedom caucus. apparently bannon likes him. ashley: because he's an ultra conservative. >> and here's the thing about bannon. bannon ran breitbart. breitbart hates ryan. considers him -- i mean, i always knew paul ryan to be very conservative. ashley: he's more moderate compared to -- >> he's more moderate compared to not just meadows but the main line conservatives. he's -- and trump conservatives. he's for some sort of immigration reform. you know, he was for the bank bailouts, which bannon hates and is hates immigration reform. so that's where this pressure is coming from. it's dual. coming from the house conservatives members. ashley: so does paul ryan become the scapegoat if this thing goes down? >> knowing what i know about donald trump, i don't care what he said today, he will
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point the finger at somebody, and it's going to be paul ryan. ashley: isn't that the joke when the owner of the team says we have the full support of the manager. you know that man is going to get fired? >> yeah. the most powerful man inside that white house besides the president is not mike pence but steve bannon and steve bannon does not want paul ryan to continue as speaker. and the name he's telling people about, he's raising is this guy meadows. now, the question is does meadows have the votes? believe it or not -- ashley: would that upset a lot of people in his own party, though, by throwing a wrench in this whole thing and reducing to budge? >> that's the question. does he have the votes? i don't know. the real question is just how conservative is the house? is the house more conservative -- ryan conservative or is it more bannon conservative or trump conservative? i mean i don't know. ashley: what i think it shows a lot of people is how split the republican party is. >> it's a factious group. listen, there's always been debates among conservatives.
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paleoconservatives, neoconservatives, i know a lot about the conservative movement. and now we have trump conservatives. in the old days there was a unifying voice, his name was bill buckley, no longer with us. the wall street journal editorial page is somewhat of a unifying voice, but it's still not. ashley: from what we're seeing today and the action over the past week on this health care bill, they are hopelessly fractured. >> and you wonder why they led with this. listen, i'm going to tell you this, ashley, and here's the $64,000 question. can they do tax reform without doing obamacare? there's a theory out there because of budget constraints that you can't because obamacare if you reform it or change it, you get your savings where you get your 15 to 20% corporate tax cut. if that's the case that you can't cut taxes that dramatically because i haven't done obamacare, this market is overpriced because it's
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pricing in -- ashley: a lot of the agenda is going to get stuck. >> or wigglinged down. i think common sense here. but no one's been able to answer that question. we need someone on air to say why can't they just do tax reform? ashley: we're going to the break, charlie. thank you so much. we'll continue, obviously, to follow the dramatic developments as we watch the house floor. all right. taking a look at the markets as charlie said there, markets aren't going to go well. look at the dow off 106 points. session lows. the nasdaq and the s&p also edging lower. well, we are waiting for the house to vote on the gop plan to repeal and replace obamacare. maybe some time after 4:00 we shall see. the outcome very much in the air. so what are the democrats saying about all of this? we are fair and balanced. let's be honest. coming up next democrat congressman saying why he thinks the whole plan is not the right way to fix the nation's health care system. more countdown on the way.
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ashley: seven years and one day ago today president obama signed obamacare into law. fast-forward to today, many democrats still defending the health care system, even though by many accounts that system collapsing and circling the drain.
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let's bring in a democrat, representative brendon boil who will vote "no" on the gop's health care replacement plan. congressman, thanks so much for joining us. are you a supporter of obamacare in the form it is today? >> that is correct. i'm certainly open to changes. i've actually voted already as a member for certain changes. with that said, i believe that we need to keep the structure of it and that we can't be in the business of throwing out 24 million people without health insurance and doing nothing to replace that. so -- and, by the way, it's not just me but the american people. ironically, obamacare has never been more popular today than at any point in the last seven years. ashley: yeah, but what do you say to the people who have seen their premium skyrocket? the big insurance companies just pull out of these, you know, the marketplace because they're making so many big losses. and people -- for instance, very quickly, i was talking to
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a tow truck driver, young man in his mid-20s, and we got talking, and he said i had to give up health care. it was $600 a month and my deductible started at $8,000. he says it wasn't worth it to me to buy into the system. what would you say to him? >> well, i would say two things. the facts show that we have been able to -- and this is a horrible policy, geeky term, but bend the cost curve. ashley: oh, boy. >> yeah, my apologies. in other words, the rate of increases in health care have been going down. that said, the increases are still happening, and that gets me to my point. the one challenge with obamacare is once it was passed, suddenly it was we on the democratic side that owned the entire health care system fairly or unfairly. there are still real challenges in the obamacare system. you pointed out that there are a number of markets, especially minnesota and arizona, for example, where you have very limited insurers. down to one. so those are things that we
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need to address, and we need to change. the real fraud in repeal and replace is that it was a great election slogan, but they have absolutely no way of replacing it because the truth is they never thought they would be at this point where they would actually be on the hook to enact repeal and replace. ashley: you know, john boehner was really good at reaching across the isle and getting legislation. if paul ryan did that and made changes that you agreed to, is that a possibility that you could get onboard? >> well, to your first point when it came to raising the debt ceiling and the transportation bill last term, it was, in fact, a number of democratic members combined with speaker boehner and some of the more pragmatic members of the republican caucus. it was the republican side that said. okay. look we acknowledge obamacare as the law of the land. it has done some good things, the medicaid expansion, for example. the fact that 28.9 million americans have health
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insurance today that didn't have it beforehand. yet at the same time we know there are still challenges. that we still have ways to go. let's come together with ways to improve obamacare. you would find many members on my side of the aisle that are willing to do that. instead they just seem to be hell bent on this repeal vote in order to fulfill a seven-year long campaign promise. ashley: so you disagree with many people, including the president himself who says if we do nothing, this health care as it stands is in collapse. you don't agree with that? >> i don't agree with that. it is not in the so-called death spiral. by the way, the same people were saying it was in a death spiral have been saying that since 2011 and 2012. it's not in a death spiral at all. in fact, the last enrollment period in november, you had more people signing up than who dropped off. so the facts speak otherwise. ashley: we could talk a long time about this. but congressman, i appreciate your views. thank you very much. >> all right. thank you. ashley: let's take a look at the dow 30 heat map we call it.
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gives you a sense of where the dow 30 stocks are at. red means they're selling off, green means they're gaining ground. a lot more red than green. nike and american express, visa, rather, leading. nike taking a big hit but rebounding nicely. meanwhile micron leading the nasdaq higher after better than expected second quarter earnings, better markets helping boost net sales by 58%. micron stock, by the way, more than doubling last year. up 7.25% today. we are of course watching every moment, movement on capitol hill as we get closer to what we believe will be that critical vote tro repeal and replace obamacare. but could the president's ultimatum knock the trump train off track. we shall see. richard goodstein play politics as the vote nears. countdown is coming right back
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ashley: house speaker paul ryan and his deputies making a last
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minute appeal to win over republican holdouts get it passed through the house f that doesn't happen, does paul ryan become a scapegoat? is his leadership role in doubt? what would it mean for the rest of the president's ambitious agenda? we're joined by a republican and democratic strategist with some. answers. richard goodstein is democratic strategist and consultant. our good friend ron chris at this as well, former special assistant to president george w. bush here. mr. christy, tommy thompson said here earlier today, the former health and human services secretary, it is embarassment and paul ryan and all republicans if this health care bill is not moved on to senate. would you agree. >> i would agree. republicans had seven 1/2 years to give us honor, privilege and govern first thing we do will repeal obamacare. they had the white house, the senate, the house, they had
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every opportunity to work to iron the deal out with republicans and democrat. what do they do? nothing? it is fratricide. republicans are shooting at each other. this is not what american people look for when they say they want republican leadership. ashley: go to richard, to ron's point, seven 1/2 years blasting obamacare. of course donald trump winning presidency, much on getting obamacare replaced and as he said put in something that really works for the american people. here we are, to this point today, from your perspective, what's your thoughts on that, democrats sitting back and kind ever giggling to themselves? >> well i'm tempted to say about what ron just said, what he said. look, the person who i think is the loser coming out of this with all due respect is donald trump. why is that? two weeks ago donald trump said, no one knew how complicated health care was. i guarranty you, he is the only
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person who didn't know it and problem for the house republicans and senate republicans as well, they have to it look for a person who leadership who had no idea how complicated it was. this is somebody who the other day said who knew abraham lincoln was a republican. it is demoralizing of them leader of the party who is oblivious. will people point fingers at ryan. i suspect so. he capitulatedded quite a lot to the freedom caucus, given them quite a the lot. this doesn't bode well for tax and infrastructure and these other things because they're going to say they have smelled blood. and while they, i think the bill will to down, i don't know you can pin this at ryan. ashley: richard brings up a lot of good points. very quickly. they have gone to recess. does that mean that the house vote is imminent? we've been hearing debate on this. as you can see, it has been delayed, we are told. that is the latest development.
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>> whenever you see house is in recess subject to the call of chair, that means they don't have the votes. they turn the television cameras off for c-span. whips and speaker are on the floor. doing everything they can to salvage this. ashley: are they wrestling on the floor with holdouts? >> absolutely. ashley: was a mistake made here, someone suggested, ron, they shouldn't go with the the health care repeal first and perhaps gone with something republicans are more for, tax cuts as opposed to against obamacare? >> tactically they made the right call. republicans said we want to repeal obamacare and freedom and choice. we put it up on the floor of the problem here is that the republicans didn't negotiate with the right people. so much emphasize placed on house freedom caucus. they're not talking about the moderates in the tuesday group. talking about people charlie dent outside of philadelphia. dan donovan here in new york city, moderate republicans who if given the choice -- ashley: republican party is very split right now. >> very fractured.
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ashley: between conservatives and moderates. speaking to richard just said, no matter what you talk about, this is not issue between republicans and democrats but republicans themselves. >> can i make a quick point? >> yeah. >> moderates are important. they are the ones who get the republicans majority. all the freedom caucus members are ruby red districts who matter who represents them. it is not a sure thing that all these moderates will be representing, are going to be representing districts that reelect them if they vote basically to strip health care from tens of thousands of their constituents. to a one, whether charlie dent or dan donovan, go down the list they know how many tens of thousands of people get he medicaid and lose it if this bill became law. that is why i think the freedom caucus is being a little overreaching. ryan knows why he is speaker. because of the charlie dents, not because of mark meadows. ashley: ron, how would you characterize president trump's role in all of this? has it been an abject failure?
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>> i wouldn't call it abject failure. the thing the president has all the other legislators don't, bully pulpit to get people in a room iron out a deal. i don't want to be critical of president here other than to say -- ashley: is he more to blame? >> of course he is. he is leader of republican party. he is president of the united states. he should have sat down with the freedom caucus head, head of tuesday group, gentlemen, don't come back to the oval office, don't call, don't write. get in a room. throw cell phones out of the door. lock the door. get pizza, iron out a deal and -- ashley: i'm been told that fox news is reporting bill is pulled. >> if the bill is pulled, they simply don't have the votes. ashley: what happens from here? >> what happens from here. they go back and regroup. leadership will have a he very very long -- ashley: do they push this to the side to go on to tax reform? is that not the way to go? >> need another reconciliation bill to bring up taxes. we had two reconciliation bills, one to deal with health care,
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one to deal with taxes. i suspect they go back talk to members of the republican conference to say what they have. >> you have a very sophisticated audience. they know tax reform will be at least as much of a dogfight inside of the republican party as health care just was. you know very well, better than most, this support for this border adjustment tax that paul ryan is championing has just as many opponents starting with tom cotton and others on senate side. walmart is based in arkansas, no surprise for cotton. every person who shops at walmart sees the thing ryan is championing 30% increase of cost they're paying because of this tax on imported goods. so the nothing that somehow, oh it would be walk in the park to figure out with tax reform, that is a fantasy. infrastructure the freedom caucus people think we just did a highway bill. we'll not spend a trillion dollars on that would put us further in debt. that is not a piece of cake either.
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so. ashley: reality washington starting to settle in especially talking about the difference within the republican party itself. this is really a severe blow to donald trump and his administration because it really does, to rich's point, raids all sorts ever questions about this pro-growth agenda that got him elected, that sent the market skyrocketing. where do we go from here? >> this is real time to have soul-searching at 1600 pennsylvania avenue and the other end. we called an audible. if we don't get a package passing house go to the senate and president can sign, american people will say why are we bothering you electing to govern. ashley: we understand paul ryan holding a news conference at top of the hour. we get a better sense what is going on from the speaker in about 24 minutes from now. what does he say? >> we heard the american people are upset. we heard the american people want to repeal the affordable care act, but we didn't do our
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job to give them a bill we could actually pass. we heard you. we'll work our colleagues in the senate. work with the president. we'll get a package up to the president for him to sign. ashley: do we have andy harris with us, congressman? is that who -- we have andy slavik with us. former acting administrator for center for medicare & medicaid services. andy, thanks for joining in here. you're not a fan of the ryan bill, i know that would you agree with us saying the current obamacare bill, system as it stands is not just workable? that it is for all intents and purposes in collapse? >> no. it is not in collapse. every objective look at obamacare would tell you a couple of things. it would tell you it made enormous progress in four year's time. it would tell you it could use surgical fixes to increase competition. it takes management. that is what we did for the last few years. as a result we insured 20 million new people. we managed costs to the lowest
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level of cost growth in a long time. and i think there is plenty to build on here. i think we need a collaborative spirit where people look at things that are working, keep them going and look at things that need improving. and work together to work on those things. it is not very complicated of the just a little bit of math. ashley: it does seem, complicated ron, does it not with premiums skyrocketing 116% in arizona. one health insurer in minnesota and arizona. it doesn't sound hello to me. >> doesn't sound healthy with you look a majority of counties in the united states, one out of three, have one choice, one option, one insurer. we have reduced amount of care people have. we increased their premiums. take them into a point they can't get doctor they want, yet the democrat hail this republicans are trying to do something to them. the democrats passed this bill. democrats got us in this mess. republicans need us to get it out of it. ashley: quickly fox news reporting that speaker paul ryan pulled the bill on request by
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president trump. >> crazy considering 24 hours ago we have to have a vote regardless. ashley: yes. >> that again, kind of inspires a sense of, who do we have calling shots there if you're a house republican. ashley: that is interesting, isn't it, ron. comment on that. he basically set the ultimatum. i'm walking ahe way. it is up to you now. we'll know who votes and who doesn't but i want this voted on. >> why every word, every sentence, every tweet that the president comes out with carries meaning. it has power. if you take away power, if you say this is ultimatum, line has been crossed in sand, get this bill up to my desk. then he calls saying speaker ryan, pulled the bill, with is it, mr. president. this is time -- ashley: richard do you get a sense they're close at all to gotting this thing through? >> no, because it was based on a fantasy all along as your other guest mr. slavik knows.
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it is catching up with them. chickens coming home to roost. lower costs insure more people, it was a fiction and it is catching up with them. the question is, you know, who is ultimately going to confess to the american public we misled you? ron just talked about a line in the sand. how many times did we hear donald trump make fun of barack obama saying he didn't observe the line in the sand in syria. 24 hours ago he put a line in the sand, less time than that for him to basically, walk over that. so, i just think it kind of does, they are going to have to step back i agree. if not punt. they will have to huddle for a long time. ashley: i think you're right, richard. here they are, we're seeing members of congress trundling out of the, off the floor there, heading off into various offices and meetings to figure out what is the next move? what do you think, ron, is the best thing republicans can do this.forward? >> do a repeat what they did last night.
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should have meetings of entire republican house an conference, get in a room say we blew it. we blew the chance. we blew the opportunity to deliver a victory to the american people. now what do we do? bring moderates in. bring conservatives over, say what can we hammer out everyone getting a little bit something? you mentioned former hhs secretary tommy thompson, you get 70, 80% of what you want, you call that victory. you put a flag in the sand, we won. move on. this punting, pulling the bill, this is unprecedented. ashley: i want to take a quick break, gentlemen, go down to floor of new york stock exchange what is interesting, the market decided it wouldn't pass, dropped over 100 points on the bill. now that the bill is not happening the market comes back, down 17 points. this is interesting dynamic. headline driven market no doubt.
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go down to the new york stock exchange, who do we have down there? matt, do you have any sense were the market is coming back on the news that they're not considering this bill right now? >> no. i really can't. it wasn't a surprise to see the market selloff especially friday afternoon, with imbalances on the close. a lot of people are nervous down here. we get the bombshell says they're pulling the by, the market rallies. no, i can't explain it. i think really we moved too far too fast. i think we're in a little bit of an oversold condition. not surprised to see a bid under this market somewhat. ashley: we go into the weekend. we digest what happened. we read and listen what everyone says. raises questions about the overall trump administration agenda. so much which really boosted markets on the optimism and hope for tax cuts and infrastructure spending and all the rest of it. if we get these very dour descriptions of what happened
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with this health care bill and raises doubt about those other pro-growth policies, what do you think the market does when we start off again next week? >> you know what? i don't know if it puts to doubt tax reform or infrastructure. i'm not going to say that yet. that wasn't until the third and fourth quarter. we have a lot to do before that. it is important to think about hopefully this is one-off event. hopefully you can fix what is wrong. hard to believe after seven years of seeing this bill we can't come up with something better. we only had a month to deal with this. let's look at it that way. this is complicated bill. it will not satisfy all parties. we have to find some kind of a compromise. that is the key, drain the swamp what we heard about when trump was running. hopefully we can do that. as far as markets go, we were anticipating a huge selloff if we got it. we're not getting it. we were also anticipating a huge selloff the not so long ago if trump got elected. we didn't get it. these markets are froth with
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indecision. you have to find sectors rally, and sell off and trade accordingly. ashley: god bless you. the trader life is not easy one. i will ask andy, what do you think needs to be done to fix the health care system in this country? >> so i think we all live with this fact that health care is too expensive and our prescription drugs are too expensive, our hospital bills are too expensive. and at root i think the president is on to something when he started talking earlier about how to wrestle with the cost of prescription drugs. there is a lot of savings there. i think there is value to be had in this health care system. they're not short-term quick fixes. i think they require bringing people from the private sector together. i think they require having voices from both parties. i think we have to recognize the fact that our country is not better off when one or the other owns health care. when something breaks the other party just gets to sit back and point. we want to move to place where
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we don't have obamacare or trumpcare but something we collectively own. i think collectively we'll work to make that better over time. ashley: very good point ashley: mt. trump said we could sit back and let it implode but we a conscience. >> cbo issued report that 24 million people fewer would have health care if the republicans bill was enacted. said there is no death spiral. that has been a republican talking point but as andy slavik can attest to better than any of us that is a fix. are there places in arizona where there is spike. but other states where increases is like, single digits increase. which before, affordable care
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act was passed we were seeing double-digit increase after double-digit increase every single year for health care costs. so should there be changes in the current system? of course. but is this radical system, talk about having a conscience. there is no conscience for the 24 million people who weren't going to have care anymore. so i think both parties, one thing i would say actually. hearings. there were zero legislative hearings about this bill, none. ashley: right. >> so i think before the affordable care act there were months and months of it. there were none here. bring experts together like andy slavitt to testify about what the changes should be. ashley: right. you're looking at video in the bowels of the capitol. only way i can describe it of the capitol where we understand republican lawmakers are going off to have a meeting. probably appropriate at this stage. you saw an empty room there with a he podium at the front. there that is where house
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speaker paul ryan is expected to address reporters with news conference at top of the hour at 4:00 p.m. go to peter barnes. bring peter in. we didn't know whether the vote was going to take place. now we know apparently according to fox news that president obama called the speaker and said, don't bother. just pull the bill? reporter: ash, we're waiting to see what the path forward is. if there is one. but here's the problem right here, this list, this is "new york times," has been actually keeping track of public declarations by house members, house republicans and there are 33 house republicans, some moderates, some conservatives in the freedom caucus who publicly he declared they would not vote for this he bill. ashley: >> the leadership and administration could only afford 20 votes. right here you see the bill going down. "the times" says further 45 republicans still undecided going into the vote.
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nine who were concerned or leaning no. so they had big problems here. this was practical thing. the problem for the president is, he said this was going to be the one and only vote. if it went down, they were going to move on to tax reform. ashley: yeah. >> not sure how this all plays out. if these opponents have called the president's bluff, if it weakens him or what? ashley: as you say, we'll hear from speaker ryan at the top of the hour and get his thoughts how we move forward. congressman louie gohmert, texas, freedom caucus member spoke to us earlier, look he is going to vote no because it's a bad bill. it keeps obamacare in place. he also says he believes the president is being misled by people who put this bill together. they lied to him. it didn't do what the president thought it was going to do. he said if that bill passed it would bring down president trump. very strong words from louie gohmert. that is one example of one lawmaker saying i'm not voting for this.
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>> he is right in many he respects. rules of house say you have to have a bill on floor dealing with revenue, raising revenue or reducing revenue. all things republicans said, purchasing insurance across state lines, get rid of individual mandate, you can't do this under reconciliation. many things conservatives are saying yes we'll have this great bill it, will do, take away all the things we don't like, but simply under the rules of house and senate you can't do that. the notion we'll have a three-step process, pass the bill ryan just pulled. allow tom price secretary of hhs to do regulatory reform and have a third shot, no way, ashley. we'll get one shot at this. this is why it is critical, even though they punted here and decided to call a timeout it is critical they get all people talked about, moderates. bring in coalition people. ashley: is that possible based on what we know so far? >> absolutely. ashley: is there a bill out there that can appease everybody? when you appease the conservatives you piss off the moderates and vice versa.
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>> you know what? heritage, give us your wish-list. bring in more moderate people, give us your wish-list. leadership can iron this out. this what is the art of negotiation out. ashley: who saying no? >> i just think that is the next shun is behind this, heritage in its heart of hearts would not have a national health care system. they think there should be a strong military, strong police force, strong defense and the rest, private sector should take care of. but the fact is again it is moderates, people that ron con speak to better than me, moderates in the house who are ones securing house majority, that is not their view. they think actually people should be getting health care. remember, whole affordable care act, we had tens and tens of millions of people. what was their health care system? going to the emergency room. therefore there was no preventative care. ashley: richard, you still have
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people doing that now because to -- >> not nearly in same numbers. ashley: maybe not in the same numbers, but you have to have a conscience about those people who can't even afford the premiums and deductibles. >> it is least efficient way to do medicine. let me make a political point. a month or so ago if i vote against this, trump would issue a tweet and louie gohmert, maybe he is the one-termer, not me, right? that shows between this poll ratings, horrible poll ratings on this health care bill. and russia, all combined, trump is appreciably weaker person than he seems 30 days ago. ashley: that, keep russia out of this. >> waiting for the russia reference. we got it. we can move on. ashley: what kind of damage has it done to the president? can he turn it around? >> of course he can turn it around. donald trump he can negotiate. ashley: "art of the deal."
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he hasn't been able to do it at this point? >> this is time, ashley, i will roll up my sleeves, bring the speaker in, bring in the majority leader from the senate, gentlemen, what is going to take? what will we have to do, what will it take, what concessions we make, how we sweeten the deal to allow more moderate to support it and people more conservative to support it. it has to be package fundamentally go to what the president promised on trail, we'll fundamental repeal this bill. how are we going to do it. >> let me say one thing to reinforce ron's point, people will pull out a "time" magazine cover of march of 1993, bill clinton was this far into his presidency, the incredible shrinking presidency, right? you will see that, i swear over the weekend countless times. people will use that as frame of reference. of course he got reelected. do we think that happens with trump? who knows. nobody should throw themselves off the ledge either around this. bill clinton is any indication.
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ashley: andy, very quickly, one of the big bugaboos for republicans is growing influence of the federal government in health care. they don't want government so in control and taxpayer money into the darker abyss. we don't know where it goes, inevitably it bps more and more expensive. is there a balance to be struck that can make this system work more efficiently and at less cost? >> sure there is. look, over the last seven years we've seen medicare grow at, under 2%. we saw 10 years added to the medicare trust fund. that compares to the bush years where it grew at six%. and it shrunk. so there is fiscal stewardship can be required. to the prior conversation, if i were going to advise president trump, what i would tell him, he may have a reagan-tip o'neill moment. if at some point in the next couple month he picks up the
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phone, calls chuck schumer, with a quiet conversation. there is probably more consensus in the middle, moderate republicans and democrats than there ever will be if you keep with the extremes. i think that is an opportunity for him if he chooses to avail himself of it. ashley: peter barnes, let me ask you, with regard to paul ryan, how much damage this does to him. he is the leader of the house. he is supposed to corral everybody in and get the bill pushed through. president obama earlier today, no, he has got my full support. that is sometimes a death knell. like the team owner saying they love the manager, he is not going anywhere and then fires him next day. what is your sense in washington about paul ryan, and how much damage is he taking from this process not going anywhere fast? reporter: remember the freedom caucus was the same group of conservative republicans who got rid of house speaker john boehner. ashley: true. reporter: and so this is the same group that is causing
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problems now for speaker ryan, and of course the, plenty of rumors about what this means for ryan and his future as speaker. but, i do want to also point out that, yesterday, congressman mark meadows, the leader of the freedom caucus said i don't know why this vote has to be today, yesterday, thursday, before they postponed it. artificial deadline. they wanted to do it on theth anniversary of the i am -- seventh anniversary of implementation of obamacare. mark meadows says this is artificial deadline. we still need to talk. we don't have the votes. 30 plus of his members were still nos as of yesterday. now we saw, now they don't have the artificial deadline. maybe they can still work something out. ashley: very quickly, ron, i want to get back to the markets. what happens to paul ryan? is the scapegoat and is that unfair? will the freedom caucus maybe like to have someone more towards their thinking in that role?
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>> i think paul ryan is the only person in house of representatives can pull together vary russ factions to make the housework. he is widely respected, widely trusted. if anybody will pull this off it is paul ryan of the calls for his demise are little bit early. ashley: greatly exaggerated. >> greatly exaggerated. he worked hard last two weeks. he has to be disappointed. hopefully he and president can pull together a victory that should have been done. ashley: not done yet. >> not yet. ashley: chad morgan lander, washington advisors coportfolio manager. chad, i want to get to the market reaction. the market shot down 100 point when it was clear it is going nowhere. we hear it pulled all together, and market comes back 30, 40 points. where does it go from here in relation to the headlines out of washington? >> the reason for volatility,
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you notice that the fiscal conservatives do have a voice in washington. so now the next step here is tax plan. as well. as well as the fiscal stimulus program. ashley: interesting. >> where the deficit will be, not only 2017 and 2018. that is the critical story here. the reason why the markets are having that great of a volatility. next 18 months a tax plan will go through and fiscal stimulus plan will accretive to u.s. growth nonetheless but not that accretive that you get to that 3 plus gdp number. melissa: gop lawmakers -- ashley: gop law bakers meeting right now what they will do next. there is picture where we expect house speaker paul ryan where we
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are minutes from now. richard, is there any way there can be some partisanship here? , some working, partisanship, work across the aisle, republicans and democrats coming together, stating earlier, getting something pushed through good for everyone? >> remember paul ryan truly did not want this job. melissa: people don't want it now. >> people thought it was career ender, no way to bridge the moderates and very conservative base. imagine a call from him to nancy pelosi hey, let's get your top head, our top heads together and bring in schumer and bring in mcconnell. that thinkable? not in the current environment but maybe there is a sense of desperation that we have that happen. that is what it will take. ashley: i don't know. what do you think? can democrats even admit there
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is something majorly wrong with obamacare in order to put something together to fix it? >> no. i spent unfortunately for me hours with debate. you would think the republicans are rolling back civil rights. you would think republicans are putting people in chains. this was absolutely insane listen to the debate. everyone needs to step back from the brink. you were elected given a privilege to represent the american people. you are forgotten that. ashley: do you think this is overblown to a point? this is artificial timeline. seventh anniversary of obamacare. we don't have to be on that time frame. we all whipped ourselves into bit after frenzy or media, people closest to this, we make a step back. is this a bit overblown? >> i remember back in 2001, working with president bush. we didn't rush no child left behind. we worked with democrats and took it to floor and president bush was happy to sign it.
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we did it month after month but not in a few weeks. ashley: interesting to see what paul ryan says a few seconds from here. dow seven days in a row is down. [closing bell rings] cheering for the end of the trading week. coming up to closing bell. david asman, transfrance. what a day. david: what an understatement. melissa: wall street isn't loving uncertainty on capitol hill. the dow ending the day and the week in the red, posting the longest losing streak in four months. i'm melissa francis. david: it was fun hearing them cheer on wall street. anything but cheering on wall street. there is a lot of unhappy faces. this is the the closing bell. first here what else we have for you at this hour. "the art of the deal" not playing out as planned in our nation's capitol. the battle lines have been drawn and redrawn so many times today


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