tv Mornings With Maria Bartiromo FOX Business May 24, 2017 6:00am-9:01am EDT
uber says it has tens of thousands of drivers in new york city, so that's how much they'll be getting each. tragically been watching features to the upside. president trump abroad at 51 and change gaming and we are thank you for watching "fbn:am." lauren: we say good morning to maria bartiromo for the first time this week is the president conveniently is in italy. maria: that's true. thank you so much. hi, everybody. happy wednesday. i am maria bartiromo and it is once day, may 24th. 6:00 a.m. on the east coast. he met with pope praises of an with pope francis over an ip seeking common ground after recent policy clashes. the president continues his foreign trip focusing on the domestic agenda. stephen mnuchin, nick maldini headed to capitol hill today. braking is on the manchester bombings report. police say they have made three more arrests in monday's
terrorist attack reports say the bomber just returned from libya and france's foreign minister said he had also been a serial. british prime minister teresa meares in the terrorist level too critical. she details the threat late yesterday. >> this means that their assessment is not only that an attack remains highly likely, but that an attack may be adamant. maria: cities across the world paid tribute to the attack. the eiffel tower. we take you live to manchester coming out. the tarmac at newark airport at newark airport. the plane's engine caught fire overnight. the five passengers in group were forced to evacuate in the airport was shut down. uber pays up with the company meeting at underpaid drivers over the past two years. it will cost them millions now. features syndicated markets will open higher. dow industrials expected to be up about 11 points.
nasdaq, s&p 500 this morning. in europe, mixed performances of 15 points. in a show overnight, gains across the board fractional no-space nonetheless the nikkei average best performer in japan up two thirds of 1%. mark sachar burke returns to his roots. back at harvard he streamed live from thiold dorm room where he created facebook. all the stories this morning regenerated talk about it, dagen mcdowell. former goldman sachs partner peter kiernan and former cia director james woolsey with us. great to see you. thanks for joining us. >> wonderful to be here. dagen: glad to be here. so much to cover. maria: is the president covers the foreign trip, we're getting into the domestic agenda. i wonder how much will get done. what do you think?
>> i honestly think the trip that he can't help because it gives everybody a chance to simmer down. process is underway vis-à-vis robert mueller and congress can get back to work. dagen:'s assumption with other members of the media are covering, how they are not covering the president's trip that closely and how they are covering looking into russia. potential alleged collusion in russia. it's so absurd. maria: in terms of the trip, there is new speed made this week and every continue these hearings. anything come out? >> i don't think anything major. the thing about this business with russia as the russians are never not interfering in people's elections. they've been doing it since the 1930s. they do it all the time. thousands of people who work on these areas. it is, you know, kind of astounding to people who work on
the service staff over time. you wonder why the president has decided to spark a one particular story or another. of course the russians are doing it. maria: it is convenient. which is what has been the case. we'll talk more about this. we are happy to have you here. former republican presidential candidate fox news contributor . the chairman of the house ways and means committee. kevin brady is here to talk to us ahead of the hearing this morning. the cofounder of paypal and ceo is with us this morning on the president of the federal reserve in philadelphia patrick harper is here. falcons, the home depot cofounder arthur blank joins us as well. please stay with us. a lot to cover this morning. kick it off at the vatican where president reagan met with the apprentice for the first time this morning. lucas greeted one another
warmly, posing for photos before holding a 30 minute meeting behind closed doors. the president and the pope exchange gifts with the visit after two exchanged sharp words of the key issues in the presidential campaign. remember this? >> a person who thinks only about domain walls wherever they may be in not building bridges is not christian. >> a religious leader to question a person's faith is disgraceful. i applied to be a christian if and when the vatican attack. i can promise you that the pope would have only wished and prayed that donald trump would've been president. >> winning us now on this historical visit with president bill donohue. thanks for joining the conversation this morning. what you see from this meeting? what message does this send youth meeting today? >> they are more concerned about national security.
this is that the media has been doing. the guy from reuters says to him, trump wants to separate families. trump told chuck todd i don't want to separate families. so they lied to the pope about what trump said. the thing, if this is what this is pretty sad to not give him the benefit of the doubt. "the new york times" and "washington post" are out there this morning saying the two men are diametrically opposed. obama was a big proponent of abortion and euthanasia, gay marriage, embryonic stem cell research, gender ideology. men and women searching. okay, that's what the pope said was demonic. they'll never hear the media talk about that. you said that the controversy about climate change. there is no catholic teaching on climate change. we have a stewardship towards the environment this is a full controversy because they love the pope because he is left on social and
economic issues than they hate the president. they're simpler to figure out. maria: easy to figure out, but persistent. as the program points out, here we are covering the first international trip and went trip and what do we see in all the media, all the coverage about russia and its nonexisting collusion that continues to be driven down. what is the end result? something has to give. the media cannot stand the senate so we hear about is that they want to cover and a bias towards everything. a >> i woke up this morning and listened to radio and they said there's a picture of the president and the pope and the president is smiling, the pope is not. i met with the pope gave when he needs come he shakes your hand. when you have a still picture, he sits there. imagine if trump has to look in his face and the pope is laughing. imagine that the narrative would be dead. if the two were sitting there,
don't face the press. maria: was going on their heads? >> i've never seen my subjective reporting in my life than what a lot of these major media reporters are doing now. maria: dagen, heidi see how do u see it? transfer the press would reall tries to put words in the mouth of the holy theater by asking the senate questions. how does the vatican react to this? they don't. they just move on and they know who the people are. they know what is important. they not the most clear messages to send. i love watching pope francis work a crowd in case baby after baby and that is what's important. it's not what the press writes about. it visuals and images they put out there. >> they are concerned about national security. the president of the united dates has to be concerned about
arms. the pope is my last, but on the moral issues, he's very good. you will not hear too much about that. the pope is concerned about the poor. trump is in the position he could get jobs and it's not a good job owner. >> this is a great shepherd. everybody seems to love this pope. it is a departure bill when he published some of the materials he did on global warming. i can't remember another pope stepping out in saying this is my view on the environment. what is your reaction that it feels like he's far afield. >> he got too deep into the weeds. if you read the document, he says he's against air conditioning. i can guarantee you the pope has a/c in the vatican. maria: he gave pope francis a collection of writings in return pope francis gave a matter which symbolized peace and books and family as well. what do you make of the exchange of guess? >> i don't think there's a whole lot there.
martin luther king is the hero i'm sure the pope accepted that. again, the media were not there. that's just it. you look at the photo off and go back to these controversies and things of that nature. so far this trip has been a success and that's bad news for the media. >> you mention all the social issues on which president trump and pope francis would agree. president trump doesn't talk about them as much as people on the left talk about social issues, whether it is the issue of gay marriage and abortion. you know why, for a political leader that's importing united states because it's a separation of church and state. literally rather than going on about it, leaving it up to somebody's religion and religious leaders. it's a personal decision for those individuals. i praise triumph for not talking about it as much as the left likes to talk about things like abortion. >> if anything, all i've been told it's a separation of church
and state. how many people are saying they want the president to take cues from the pope. we have a president who's supposed to listen to rob? i thought yours was the other way around. but the president do what he wants. now all of a sudden we are obedient to him. they need to get prints a blanket on the same page. maria: venezia man to your list. >> they are horrible these days. maria: they hate the president. thank you or your input. o'donoghue joining us. three additional arrests made in connection with the attack in manchester. the u.k. has raised its terror threat level to a level of critical comment in another attack be imminent. we'll bring you the details for the dire warning from the prime minister to resume after this break. president trump on the first leg of the foreign trip but that prime minister after sitting down early this morning. i've covered just does trip continues. stay with us. "mornings with maria" will come right back.
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maria: welcome back to breaking news on the manchester terror attack. police say dreamer people have been arrested in connection to the bombing it comes as britain is raising the terror threat level to the highest level in a decade. craig talcott, good morning to you. >> hi, maria. a couple developments in the
past hour and the the investigation took a horrendous attack monday night at the concert in the arena just behind where we are standing right now. three more people arrested. we are told by the greater manchester police in the southern part of the city. it is believed that these three could be connect it, could be part of the support network for the attacker and we are getting brand-new figures on the horrible casualties that this attack along with a 22 dead, we now learned there were 64 people in eight area hospitals being treated for wounds. 20 of them are icritical condition and as we know, many of them are young people, teenagers coming even children. prime minister to resubmit overnight addressing the very strong statement. she has raised the terror threat level to critical. the first time that's happened in 10 years here meaning that a terror attack could be a minute,
that there could be preparations being made for that and to that end she has present in the 3800 british troops on high alert deploying some of them in critical locations. also, more information about the attacker, 22-year-old salman abedi book the explosives outside the arena that did so much damage. he is a dish or in a libyan refugee parents. his family is a conservative muslim family. there are reports now that he was radicalized at least in the last two years and he's bad on police radar. he had just come back from libya. some reports that his contact with isis and terrorists. here is in fact a little but more of what teresa and they had to say about all of this. >> we cannot ignore that there is a wider group of individuals linked to this attack. the threat level should be increased for the time being
from severe to critical. this means thaeir assessment of not oy that an attack remains highly likely, but that a further attacks may be imminent. >> another british official confirming this morning that the government here does believe that this attacker did have help basically because of the nature of the bomb to use, is packed with shrapnel to do absolutely devastating harm. that's the kind of injuries and death we have seen in the mideast are now here in the heart of europe. again, the starting for their lives in a different hospitals. among the big as parents who are pick up their children from this concert in some cases, at least two cases it is the parents who were killed the children survived horror stories out of this just own end. day by day, hour by hour getting the identification of those who were killed. and i now have been identified in the dead it's an 8-year-old
girl, a 15-year-old girl, an 18-year-old young lady just starting heard old life to showing the frugal howard is that this attack in the horrendous nature that the city is coming to this country. i think we all a break. back to you. maria: thank you very much. we are with former cia james woolsey this morning on the panel. your reaction? >> well, it's interesting they got these the arrests relatively quickly. i would say that is one of two things. either we've somehow been able to get informants inside a number of these groups that would be good, the british police and the domestically focused part of their law enforcement to send a really quite good. probably more likely they immediately turned to interviewing kids and neighbors
and particularly brothers, better at. a lot of these terrorist attacks, just two or three people plan that will be one family. i remember what happened in boss and at the time of the marathon a couple of years. they are very different routes they can use to see if they can get a better handle on a larger group and stop the larger group from doing something that none of it is foolproof. maria: clearly they had some intelligence to say, teresa may say another attack is highly late late or perhaps a minute. >> it seems to me they are very nervous. i get this emotional feeling like we seem to. when you target a bond that children, what is concerning is this increasing pattern of putting your bomb at the scene where the perimeter of security, whether it's the brussels airport or paris airportnd now is coming t of the project that area.
that is when people have to be the most alert. to do that for children and young people, they said they meditate and 50. >> so sad. no words. >> people do have the right to be upset and concerned about the fact that this attacker was known to a horrid deeds, just like this and i have brothers, just like the attackers in the paris attacks in november 2015. the mastermind abdulla was on the pulse nightclub list. omar mateen, they had been under surveillance but they were still able to kill dozens and dozens of people. it's time to ask, why is this still happening? you know who these people are. you don't have better intelligence on them. >> if you want really good
intelligence on routes like this, you're going to have to go to a policing system that is similar to wed giuliani and his colleagues did in new york with the broken windows. they were talking not only about broken windows, but radical islamist groups. you have to get out and be vigorously enough population and a lot of people don't want that. maria: we've got more on this coming up. we'll be right back. stay with us. when you're close to the people you love, does psoriasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to give you aan. with taltz, up to 90% of patients had a significant improvement of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin.
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it is the u.k. thank you for joining us. typically markets don't react to geopolitical events and they don't react to terror, right? >> folks like me come on tv and stable means something pretty stoically when you think back at the last seven years committee that a european debt crisis every year. fiscal cliff, i don't know what you could throw at it other than some kind of real nuclear war and the market continues to trend higher because ultimately the market correlates with the backdrop of earnings in the backdrop of earnings is actually getting much better. >> what i loved in addition because you can always financially engineered to 70% growth in revenue. that's the real stuff. but i do wonder a little bit about is the bond market refusing to play along. it is not basically a 10 year around 220. it's not going anywhere.
at the same time, inflation isn't taking off. are those anchors on this? what is the catalyst for mexico? >> great question because every institution beginning had me set this every institution needing to have me separate the bond market telling us in the day to 20-year-old? what was it telling us that the economy was going to slow down? we have to be careful about assuming the markets will tell us something. if anything, because going from 2.6% down to 2.2% is a stimulative move. ultimately, the only decision investors have to make over the intermediate to long-term is how close are we to recession and the way to find that out is that short-term interest rates exceed long-term interest rates. that is the only thing -- we've got everything. the only thing that led to the recession is an inversion of the yield curve of his other positive 130 basis points.
maria: so how do you explain the yield? >> i would say -- here is how, supply and demand. everybody on the planet with say there is too much debt. no, there's not. based on current demand, clearly not enough funds being produced otherwise bond yields would be reduced significantly. ultimately this slide that they would credit is for sale, the right not to be thought. >> disregarding or ignoring what they might do a short-term interest rates as they begin to unwind but their $4.8 trillion balance sheet, does that send longer-term interest rates higher and is that a head wind for the stock market? >> it would keep them a little bit higher. if i told you a year and a half ago that china was found with those i largest bondholder was going to start selling debt cap i would've thought the idea was would've been way higher. the story here is not. more than 40% of the pension
plans to fixed income with 220, corporate bond yields at 458 unique to make 7.5%. you can't get there from here. but you have our pension plans to try and get the fixed income returns up enough to get the 7%. maria: supply and demand. bill quick on china, the credit rating cut, top stories by moody's. >> is funny because i saw somebody put up a chart of the upshur wanted it looks like it is highly volatile. i was just looking at a three-hour a period still a pretty tight range. i think the best thing i can do for the viewers and anybody watching this just remind you. it's not whether you are a buyer without an aversion to the yield curve. it is whether you're a more aggressive buyer. but the market corrected the next 15 minutes? yes it up quite a bit.
definitely for the intermediate to long-term. but i urge people to do this if you cap a week off last wednesday we got this 2% drop, here it is, be careful. earnings are positive. the fed is historically accommodated. banks and lending and a story that nobody focuses on enough if you've got a millennial demographic that turning 27. as big as the baby boom here, they are 27 years old. you are coming to a period where the household formation is going to pick up because i call it my cousin benny moment that my biological clock is ticking. around 27 to 37. they are not going to want to live in the current spaces of all time. at least i know i didn't. trade do that analysis. great to see you. coming up next, president trump's new bill being
criticized on both sides of the aisle. the pushback from capitol hill will zero in on that budget. mark zuckerberg returns harvard. the business man's dorm room restarted the business. a trip down memory lane. back in a minute. ♪ safety isn't a list of boxes to check. it's taking the best technologies out there and adapting them to work for you. the ultrasound that can see inside patients, can also detect early signs of corrosion at our refineries. . . .
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and i love keeping their little feet safe and sound. ask your doctor about lyrica. if you are eligible, you could pay as little as $25 dollars a month. maria: welcome back, good wednesday morning, thank you so much for joining us. i'm maria bartiromo, wednesday may 24th, 6:30 a.m. on the east coast. president trump meet it is pope. latest stop on first internatnal trypsins takg
office. the president is also meeting with italy's prim minister right now. a trip comes after a major push at home. first full budget plan to congress, mick mulvaney defending the proposal. >> we are not kicking anybody off of the program who really needs it. we don't have enough money to take care of people who doesn't need help. maria: meanwhile the mourning in manchester, landmarks around the world supporting the city following monday's terrorist attacks, this comes after police making three additional arrests that n that terror attack. terror in the tar mark. tense moallts where flight passengers and crew were forced
to evacuate. the fall-out from the big mistake coming up. markets look higher today. take a look at futures indicating a broader opening. dow industrial adding gains. ftse is up a quarter of per can he be the and the cac quarante weaker this morning. fractional mov here as well. ta a look at the japan, best performer, nikkei average up two-thirds of 1%. mark zuckerberg goes back to school. returned to the dorm room where it all began. highlights of visit to harvard coming up. president trump's first fiscal budget hits capitol hill. today white house officials will get to work to sell president's plan, mulvaney will speak at hearing this morning and mnuchin
will answer questions at a house ways and means committee at 10:00 a.m. mulvaney broke down and earned praise from some republicans, watch. >> we are no longer going to measure compassion by the number of programs or the number of people on those programs but by the number of people we help get off of those programs. that's how you get people take charge of their own lives again. >> i have to tell you, it's refreshing mick mulvaney say just that. that's point number one, what he's basically saying, let's make sure we are getting our money's worth. maria: joining us right know america for tax reform, nice to see you, thank you for joining us. >> certainly. maria: what strikes you the most? >> when trump was running and even when we won a lot of the critics in the republican party said he's going to be a big spender, well, let's take a look at the budget not only has been
a solid conservative on judges and personnel and tax reduction proposal but this is a ronald reagan budget reduction, let's stop spending so much money and get people off of welfare rather than get more people trapped into welfare. it is a very reasonable budget. it's one that washington is going to hate because a lot of interest money that's being cut back in the budget. maria: what about projections on growth, 3% on growth, is that outside of forecast? is that too optimistic in terms of when to expect growth, grover? >> not if we get what ryan and president trump are talking about. you take corporate rate to 35 to 15, they have been projecting less than 2%. eight years of what obama gave you.
at the end to have carter year, limits to growth. there's no more growth anymore. reagan cut taxes we got 4% growth. i think 3% growth understates what this economy can do if we continue the deregulation and let peopave permits to build everything from pipelines to power plants rather than have a war on infrastructure as obama did for eight years but rather get out of the way of infrastructure being built so it can be built and lower tax rates. i think 4% is completely reasonable, they're sticking in three, i don't know maybe not be criticized to the left, they'll be criticized fbi left. maria: they are being criticized by the left. dagen: nonpartisan economists look at the 3% growth rate based on growth and working age population which is is barely growing at this point that without that wellspring of
workers to use the wall street journal's language or some sort of newfound productivity, 3% is not achieve nl -- achievable. that's not coming from the left or the right who don't like the president's budget. the other thing he deserves criticism is entitlement, paid parental leave when you have a kid. federally mandated paid parental lead. >> i'm not a fan of mandating for people who work, people should make their own decision. social security, any reform of social secitreires 60 votes, that's just off the table. it would be silly for any to start a conversation on that. george bush threw away a second term because he spent six months
negotiating with no democrats so nothing happened. that was completely predictable. trump is not running down that rabbit hole. on medicare we need to reform it on long-term, that doesn't bring immediate savings but we did save net present value $3 trillion in medicare back with the murray-ryan budget fix a few years ago. so you can make small changes over a long period of time that net present value tremendously reduced the unfunded liabilities you have. we have millions of americans that could enter the workforce. not 18-year-olds but 30-year-olds and 40-year-olds and 50-year-olds because the labor participation rate during the obama years continued to collapse. it's supposed to spring back during a recovery. we add eight years of a very weak recovery and people left the workforce. so it's not that there aren't --
we don't need immigrants to fill that up, we have people that were pushed out of the labor market by lousy economics and that can come back and have a lot more work nester the country. we are not short workers, we've pushed them out of the labor market but they can come back in, they did with the reagan recovery. maria: this is a list of priorities, it's going to look very different. how do you think it looks different once it gets marked up? >> well, we will see, different spending interests have different amount of power in this town. for any republican who wants to criticize -- this would be all republican budget. you not going to get d votes for reforming government. maria: let me ask you about the cbo score on health care plan, today we are getting the score on the cbo in order for this bill from the house to be passed over to the senate, well quick on the cbo s >> we simply need it to be scored so that 11 years out it
is deficit knew real from press predictions. i believe it will be, we will see how cbo made some changes to allow obamacare to go in. i hope they're not playing politics against reforming obamacare. maria: and it will also tell us the number of people who will be without insurance. >> but watch, the last time cbo did this, they did something very dishonest, they counted people who were no longer forced to buy obamacare's product that they didn't want. you don't force them, they will quit. those people are losing their health care. maria: dagen, you brought up. >> shame on them for doing that. maria: thanks very much. >> you got it. maria: scare on the tarmac closing airport last night. united airline evacuated when engine caught fire, details coming up. more trouble for uber, admits for underpaying new york drivers more more than two years, how
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maria: welcome back, markets are looking fractionally better this morning. as you see it's turning into a mixed session. s&p 500 turning to negative territory. a couple names on the move, apple settles with nokia, companies have come to a multiyear agreement on patent licensing. as part of the deal apple will increase the loyalties that it gives nokia for mobile phone patents, apple shares are up nearly 60% the last year. we are watching shares of lowes, both earnings and revenues missed expectation, stock is down 6%. that's one to watch. retail space gone under serious pressure. more than a 100 passengers
evacuated last night after united airlines plane engine caught fire. cheryl casone with the details. cheryl: five people maria, suffering minor injuries after one of the aircraft engines on united airlines caught fire in about 9:00 p.m. last night at newark liberty international airport. 124 passengers and seven crew members. the airport did reopen late last night after that scare. meanwhile we should say united shareholders are going to vote whether to reelect oscar muñoz today. this coming, of course, after rough removal from passenger after spark after bad publicity. shares up 75% from just a year ago. the u.s. is suing fiat chrysler claiming it used illegal software to cheat on emissions testing. the justice department says more than a 100,000 jeep and suv were
allowed more pollution on the road than the government allowed . fiat chrysler says unlike bw it did not install software with intention to cheating. up about 1 and a half percent. well, uber has admitted that it underpaid new york drivers for the past two and a half years. the company said it mistaken calculated commission based on the gross bear instead of net bear which doesn't include taxes and fees. could get a refund about 900 bucks including interests but the overall payout is $45 million. uber has been hit by several recent scandals including claims of workplace discrimination and a video, the ceo screaming to a driver and going viral. mark zuckerberg is back where facebook began.
live streamed a visit to his own dorm university at room 833, by the way, zuckerberg spoke with students in the roam and told stories when he was there. first time back since he left 13 years ago. tomorrow he's giving commencement address and he will receive honorary degree, he never finished but, maria, i think he has done okay. maria: i'd say. that was crazy to see the pictures from dorm room really real found look at. dagen: is that the room where the winkle boss gave them that idea. one thing that zuckerberg deserves so much credit for it's not just the creation of facebook, but the ability to assemble a technological team and a leadership team that could grow it into what it's become. billions of users globally. peter: one of the things he did was brought in cheryl samberg.
if there's ever a country that need great chief operating officer that's one. dagen: she preaches about women and women empowerment and they need to hire more women. they've had a serious apple as does apple and google. maria: the whole tech space, right? dagen: they get a thumbs down from this chick. maria: now outreach over late night talk show host stephen colbert. we have the details, stay with us ♪ here comes the fun with sea-doo.
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maria: welcome back, late show host stephen colbert will not face disciplinary actions for comments he made on show early may. tracee carrasco is here. good morning, tracee. >> controversial joke did not warrant any sort of action or fine. take a listen. >> you talk like a sign language gorilla who got hit in the head, good for --ing your mouth is >> the fcc received thousands of complaints for joke on may first during opening monologue on the late show on cbs. the joke prompted a fire colbert #on twitter. fcc concluded that it did not warrant any obscenity.
>> it's unlike any punishment to stephen colbert outside of his community, those who want to protest his show but no action on the part of fcc. >> if we do get complaints we want to take those seriously and we will evaluate the facts and maybe the appropriate decision. >> well, broaders have a safe harbor for indecent or content, they can still face penalties for airing obscene content at any hour. maria: not this time. >> not this time, no. dagen: whatever colbert is doing is working in the ratings and big time. i will point a variety story late show has a officially overtaken jimmy fallon tonight show in ratings for the whole 2016-2017 season. three nights left in traditional september to may season, colbert
show is averaging more total viewers per episode compared to fallon show and it's a huge victory for colbert. it marks the first late-night win for cbs since '94-'95. if you can believe that. dagen: it's trump rage. he's a political commentator. he had a contractor that was uber ride, a contractor on comedy central and now he's gotten back to what he's good at people are willing to watch him. >> in response of interview on face the nation when president trump ended the interview abruptly colbert made that joke in response to being upset because he's friends with dickerson. maria: that's what he said. i said it because i didn't like the way he treated my friend. settlement reached after target's massive data breach.
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we're talking to you, cost inefficiencie and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. just like the people every business is different. but every one of those businesses will need legal help as they age and grow. whether it be with customer contracts, agreements to lease a space or protecting your work. legalzoom's network of attorneys can help you, every step of the way. so you can focus on what you do and we'll handle the legal stuff that comes up along the way. legalzoom. legal help is here. maria: good wednesday morning, welcome back, everybody, thank you so much for joining us. i'm maria bartiromo and it is wednesday may 24th, top stories
right now 7:00 a.m. on the east coast. president trump visits the vatican, he met with pope francis overnight. he's currently meeting with italy's prim minister later this hour the president will leave for brussels. well, the president continues his foreign trip, congress is focused on the domestic agenda, treasury secretary mnuchin reportedly telling the house freedom caucus that president trump is against the border adjustment tax. house speaker paul ryan says congress is still working on tax reform right now. >> we here in the republican congress are stayi here getting our work done. we were talking about tax reform half of the day today to get the economy growing, get to tax code simplified, get businesses hiring again. maria: on to the latest developments on the amanchester bombing, police say they have made three additional arrests in monday's terrorist attack and they say another attack maybe imminent. the world is mourning the bombing and they are mowrk the uk this morning including the
yankees at last night's game. maria: very latest on the manchester attack, we will take you live to the uk coming up. data breech settlement. target is paying up. nike with huge endorsement deal which nfl star will rake nearly $50 million. marketsmarkets are mixed this morning. take a look at futures indicating a weaker opening for the dow industrial. very much a tight situation back and forth between positive and negative territory. not much movement. dow industrials looking down 2 points and nasdaq up 5. in europe the indices looked like this. you see the markets mixed there as well. ftse up a third of a percent. 26 points higher, the cac quarante in paris and dax in germany down a quarter a percent a piece. in asia japan best performer.
china shaking off credit downgrade, that would be the first cut in the country's credit since 1989. all the stories and joining me to talk about it dagen mcdowell, best-selling author peter kiernan and former director of the cia james. jim, you were talking about the foreign trip that the president has taken and the chance for peace in the middle east. >> well, it's raised in an article in the wall street journal this morning and maybe some other press, i don't know that there's anything immediate and concrete but sure a lot of movement. b.b. netanyahu accurately pointed out if what happened in manchester had been palestinian bomber and israeli children that had gotten killed, the palestinian bomber's feamed would -- family would have gotten a stipend.
if it does, if somebody can put a deal together, law and order, american investor, if somebody can put a deal together the parameters are probably -- would probably be close to what the clinton administration worked out in 2000. a few hundred meters difference but generally people know where this wld go. you cannot have a deal in which the israelis are always subject to being killed by palestinians. if you -- if you look at the position israeli arabs, israeli citizens that are muslim and sometimes christian, they have their own supreme court justice and they have the representatives, parliament, they have their own press, they
go sleep at night without worrying some israeli is going to kick down the door and kill them. that's not the case if you have jews living in the west bank, one of the reasons they have to be in heavily armored fortress-like buildings is otherwise they get killed. maria: yeah. >> so once the palestinians give up on that, there is, i think, maybe in the next few years in a trump administration a chance that something could be put together. maria: that would be extraordinary. peter: i like at mahmoud abbas he may have a part of the organization but hamas is a real issue. >> the question is would hamas go along with something like this or are they going to maintain -- it would be a big change. maria: we will be keep talking about this. thank you for that jim. coming up is morning a big show ahead. former republican candidate
herman cain. and the cofounder and ceo of paypal as well as ceo of affirm. patrick is here and the atlanta falcons owner and the home depot cofounder arthur blank joins us as well. we kick it off this hour with this. president trump continues foreign trip meeting italian leaders and the pope. fox news' chief correspondent john roberts in st. peter's scare with the very latest. good morning to you. >> maria, good morning to you. given the history of the two man with each other tweeting comments back and forth and public statements as well when the pope said that it wouldn't be christian to build walls instead of bridges and the
president called that language disgraceful. it was a pretty formal affair. the pope didn't seem to smile but was cordial but by the end of it when president trump brought in melania, ivanka and jared and the secretary of state rex tillerson and h.r. mcmaster clearly any ice that remained from their public feud with each other over a couple of items had thawed. -warm handshakes and smiles all around and they did talk about a number of different issues and release of vatican says that relationship on firm footage that joint commitment to life and freedom of worship and also talked about the situation in syria and the broader middle east that need to bring about peace through political negotiation in religious dialogue and persecution of christians and importance to protect that community, particularly in places like syria and in the broader middle east as well. and clearly the pope said something to the president that impressed him a lot because listen to what the president
said to the pope just before he left. [inaudible] >> he said, i will never forget what you told me today. we do not know, maria, what it was that he told him today but we will try to root that out. one interesting moment is when the pope was talking to the first lady about food and he said to her, what do you feed your husband and i think they talked about pizza but he also said he liked potizza a slovenian unlike pope benedict who used to eat olives. we will to give that one a try. maria: i hope so. you will have to report on that one, john. john roberts in italy this morning. i want to brinin former
republican candidate herman cain. good to see you. thank you for joining us. do you believe the president's message of unity during foreign trip has been effective. what's your reaction to the president's trip. >> his message of unity has been very effective. his message of unity back home because of the distort trump media it has not been effective because a lot of people haven't heard it and that's ironic. newt gringrich made a very compelling observation in an interview. he said, it's ironic at home the liberal media shows so much disrespect for this president but internationally they are showing a huge amount of respect which is helping to drive that unity and i think he nailed it when he made that observation. maria: it's a great observation. fact that he's getting such respect, such respect from saudi arabia and israel and the media here gives him no respect whatsoever. >> right. maria: meanwhile the police in the uk have said that they have
made three more arrests in connection to the stadium bombing in the united kingdom this morning, britain is raising the terrorist level to the highest level in a decade that's the critical level, the suicide bomber has been identified as 22-year-old salman abedi. abedi had probably been to syria and haproven ties to the islamic state. president trump responded to the attack yesterday while he was in bethlehem. listen to this, i want to get your reaction. >> so many young, beautiful innocent people living and enjoying their lives murdered by evil losers in life. i won't call them monsters because they would like that term. they would think that's a great name. i will call them from now on losers.
maria: it's such an incredible story, herman. >> it is, they are losers for two reasons, one because they take advantage of innocent civilians in order to try to intimidate and to incite fear. that's part of their strategy and tactics but here is the second reason they are losers, benjamin netanyahu i heard give a speech many years ago, he said the reason that that element of islam is so angry and so violent is because that culture has lost to our culture and their only retort is to try and destroy us. we have the biggest economy in the world, we have the most powerful military in the world, we have more freedoms in the world, we have a true democracy, yeah, it hay hit bumps and potholes but that's what they have lost. theirs didn't work and their objective is to wipe us out. maria: what do we do, herman. this guy was on a watch list.
he just got back from libya. you're on a watch list and going back and forth to libya, doesn't that raise some red flags. >> yes. maria: when are we going the start getting tougher? >> we are going to start getting tougher when the -- in the united states we are already getting tougher because president trump has said, we have your back, allow the authorities to do their jobs without fear of being intim at a timed or being harassed or being fired because you did your job. they are much further behind than united states and encouraging the authorities to do their job. that's when we are going to be be able to do the type of things that should have been done over there. i'm glad that this president has told all of the authorities and even the intelligence resources some of whom are not in his court we got your back. that has not been a message that the european leaders have told their authority. maria: but it has resinated with leaders across the world.
makes such a good point. let me bring you back to the issues at home because the administration is working toward tax reform. >> yes. maria: bloomberg is reporting reporting that treasury secretary mnuchin said during private meeting that the president is inclined to oppose the border adjustment tax, this is not new information. this is exactly what we expected that there would be no border adjustment tax in this tax package, but what are your thoughts on the domestic agenda, you know, this russia investigation is taking all the oxygen out of the room but he did release budget yesterday and they are moving forward on tax reform, your thoughts. >> my thoughts is the democrats can change narrative but they can't change the facts. a lot of people are wakeing up to that. if it's spot on, it's spot on and what the president shod is his ability to negotiate. the republicans in the house and the senate said a border
adjustment tax is a nonstarter. maria: right. >> even though he initially said we need one. what he has done is show that he was willing to negotiate, hopefully knowing donald trump, president trump he got something in return. now, the blueprint is just that, blueprint and people need to be reminded of that. now the house has to build the structure, then the structure goes to the senate. now we know the structure isn't going to be exactly what's in the blueprint but as long as it hits most of the president's priorities it's got a chance to survive in the senate and let's hope that the senate doesn't screw it up too bad before it goes back to the president's desk. people need to keep in mind it's the blueprint that lays the foundation for the structure that'll be built for the house and senate. maria: you made a good point. 15% corporate tax rate. i don't think anybody believes that the corporate tax rate will be 15%. he starts at this level because he know the house is all the way
28%, 25%. >> exactly. the art of the deal. he is showing flexibility which i think shows that he understands what he has to work with since you have to work with the legislative process. maria: the left is painting the cuts and programs for the poor, food stamp, they are cutting growth of the spending not. >> that's the big lie and let me explain why. in washington a cut is don't allow it to grow faster than you increased it last year. that's why they are calling it a cut. all they are saying is we are at this level, they're not cutting the existing spending for food stamps and medicaid or anything like that, they're simply saying, we are not going to build in x increase in the programs because we want to put people back to work so they don't need food stamps. that's the language of the left, they call it a cut, they call it a devastating, that's just the big lie that they tell in order to try to demagogue this approach.
maria: thank you very much for that. that was great analysis. herman cain, great to see you. herman cain, do stay with us. bp developed new, industry-leading software to monitor drilling operations in real-time, so our engineers casolve problems with the most precise data atheir fingertips. because safety is never being satisfied. and always working to be better.
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so monument and iconic buildings were lit up in red, white and blue in solidarity with great britain. other monuments went dark like the eefl -- eiffel tower paris. tel aviv also showing support, moments of silence as various events went across the globe as scheduled including the nba playoff between cleveland cavaliers and boston celtics while remembering victims. well, in other headlines for you this morning, it hasn't happened in 30 years but today moodies downgraded china's credit rating, expect china's economy to erode, debt continues to rise there. chinese finance ministry disagrees with the move and says
it was, quote, inappropriate methodology. settle ofment of massive data breach from 2013, that deal is with 47 states in the district of colombia and the largest multistate data breach settlement ever recorded. prosecutors claim more than 40 million customers had credit or debit card information compromised and the settlement does require target to hire an executive to oversea an information security program. okay, here is shares of target, stocks down more than 24% this year. maria: cheryl, thank you. the summer driving season almost here, what you can expect to pay at the pump heading into a long holiday weekend. president trump scheduled to depart italy to brussels within the hour. we have the details on the president's schedule coming up back in a moment. at fidelity, trades are now just $4.95.
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maria: well, it's that time of the year, summer driving season kicking off this weekend. you are one of the 34 million americans hitting the road this weekend, be prepare today pay up at the pump, latest numbers from triple a show that is gasoline prices are on the rise. today $2.37 compare today 2.29 a year ago. bob, good to see you, thank you so much for joining us. your take on gasoline prices, your take on this week and beyond? >> we are a little bit behind where we were last year as far as, gasoline to crude oil, there's a lot of gasoline in storage so we have a healthy supply situation moving in.
but we have crude oil prices at $50, so it's supporting to a certain degree. demand this year is about 175,000-barrels a day below last year for gasoline and so it's a pretty healthy situation going in. peter: we are coming into opec, they are in viena as we speak, if they do agree to extend the cut, what do you think the compliance is going to look like? this time the compliance was so-so, what does that look like if this goes forward? are they going to play ball in iraq? >> they can ramp production pretty quickly, they'd like to. they will probably make a commitment to the agreement whether they stick to it in fact is a different issue. i kind of doubt that they ll. the problem with this deal, i'm assuming it's rolled and for nine months, the problem with
the deal as far as compliance is concern, northern driving season. nobody wants the united states to steal the market share. we are in the business of stealing market share. we steal market share from the saudis and chinese these days. maria: when you say steal market share, everybody wants market share, i don't know if it's steeling market share. >> we are taking the barrels that they used to move into china in particular and they do not want to see that happen. so that will calculate into the agreement tomorrow. so i do believe it's more likely that they will cheat on this deal because you want to move barrels where the demand is the greatest. this time of year the demand is greatest. dagen: do we, our production in the united states and future production that comes online from the -- from these technologically advanced oil and gas companies, is that going to keep a lid on prices for the long haul? >> yes, i believe it does. we are at 9.3 million-barrels a
day. record was 9.6, prices rallied back since then. we were probably approached $10 million a barrel in the united states. big number. to a certain degree between the united states production inease, increases in production in bya and nigeria, it cers the cut that opec has already made, so opec has to take that calculation. dagen: and roll back oil and regulations and without having to involve congress. maria: you're right. >> why isn't the objective as low as possible while still maintaining level enough for investment to keep going? if you look at the frankers in west texas, they can money on oil that's pretty cheap. >> they'll make more money if it's pretty expensive, on the other hand.
you want to at the timer it. we would put the number at 47 bid at 52 you everybody is kind of happy, everybody is doing pretty good. you have to keep in mind the interests of the refiners in the united states, they feast on lower oil prices too. so there's that side of the business also. >> and the summer drivers and the soccer moms driving home, it makes a difference 2 or $3 extra. maria: we want to get to two big stories saudi ipo is on the horizon, you would think saudis would want to see oil prices high, it's obviously correlated with oil prices, what's your take on the saudi iran co ipo and trump proposing selling half of the reserve, the president has proposed that what do you think? >> you can make the argument that opec agreement putting out nine months, trying to bid prices up to $60 are in the saudis mind part of strategy.
the higher the price of oil if ipo does happen, the better the deal will do and the better it does -- we are talking billions and billions of dollars here. it's not a rounding situation. so if you have a price of $60 or higher, it's going to go relatively a lot better than it would otherwise so it's definitely in their interest to extend the deal, they may actually even be forced to cut barrels in their own that nobody else would cut so they would be willing to give away to a certain degree, that's a balance that they have to keep in mind. maria: when is the deal? >> probably 2018. probably will not happen this year. peter: you're absolutely right. i've heard from people who are involved in the deal, the saudis are not happy with the preliminary valuation of the company. they have lofty goals and has to do with national promise and all of that, i think they are going
to be very focused on where this goes on. they will cut more on their share to get the price up. maria: all the financial guys were in saudi last week but also they want a piece of that action, for sure. let me ask you, the president has proposed and dagen, i want to get your take too, thwhite house trim for national debt is -- >> it's good for 94,000-barrels of crude oil a day for ten years. duration is long but not all that much. we have way too much oil in spr right now. we don't need that many barrels because we are increasing our domestic production and kicking back on our import. a country like china, on the other hand, they are increasing spr because they are the opposite. they are decreasing domestic production and increasing import, so we really don't need 688 million-barrels of crude oil sitting in a salt tavern.
maria: is this an effective way to raise revenue? dagen: it's not a constant source of revenue. it's a toss-away, please don't sell low. they will start selling oil out of the spr when crude is $35 a barrel. they always mess that one up. maria: yeah. >> i do think it's time that we start to think of ourselves differently. we are a major player in oil business, if we are going to get to 9, $10 billion, we are toe to toe with the giants, i do have to say that this is $1.6 billion a year kind of revenue recognition, it's not going to be a huge piece of the pie. >> i think the key thing is the price to american consumers. we are -- if opec has to take some hits in order for that to take place, then bravo. maria: all right, whether he leave it there. bob, thank you so much for your insight.
a shocking report about america's privacy, new details that the obama administration reportedly conducted illegal searches on americans for years. that's next look closely. hidden in every swing, every chip, and every putt, is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that transform their business and will enhance the game for players and fans. the microsoft cloud turns information into insight.
it is the latest stop on his first international trips since taking office. he also met with the prime minister present is expected to part later this hour. the details in the deadly manchester terrorist attack. thersea may has will raise the country's threat level to the critical level. another attack could be imminent. police carry out three additional arrests over that bombing. a new report plays that the nsa conducted illegal searches on americans data while under president obama's watch. the shocking invasion of privacy that was going on for years coming up. a massive mud slide. the unprecedented damage this morning coming up. nike breaking the bank for one nfl star.
up to $50 million to catch one of the league's best playmakers. the social media diet and daily news unveiling new stories for your friends. futures indicating a mixed market this morning. it is expected to be really flat this morning we are looking at a decline of one point s&p 500 on one point. the indices are very much a mixed story. modest gains across the board take a look. i was a first cut 1989.
now to a bombshell a new report that claims the nsa under then president obama conducted illegal searches on the private data for years. join us right now to weigh in on the stunning revelation judge injured napolitano. i know a lot about it. this is nothing new and should come as no surprise but finally that in a state which has been doing this for years and years got caught. nick got caught by its own private secret court. i really gets angry when the nsa exceeds the authority of the court gave it. as a variety of tools by which it can examine or receive the content of every telephone call in every keystroke in communication.
one of them is going to the fisa court and asking for a warrant. it's not about an individual is about a class of people. it was for all customers of verizon. as long as they comply with the warrant and do with the warrant authorizes the court doesn't care. when they exceeded the warrant that's when they unmask people who did it needed to be unmasked when they use the warrant as an instrument together information that ultimately is used for political purposes the court is furious. it was the fear he written down in the opinion admonishing them for doing this. the is richly deserved. the whole system operates with the consent of the american people. we don't use the cia and nsa
does fire on americans. the sum of summit therefore. they may help carry out investigations with you the counterintelligence investigation. but you do need to have counterintelligence investigation you can utilize the fbi and you can probably had some kind of role for the cia particularly. to do what the judge it talks about and what has transpired here it really was exceeding their authy substantially. speemac if you combine what we learn yesterday with what we learned a few months ago about susan rice who was asking for the unmasking of the revelation of the names of the human beings involved in the medications and using it for political purposes.
give a very serious threat to democracy in america and the government can use surveillance to keep us safe. that's what i believe was dr. donald trump. how politicized of these agencies become quacks. >> the short answer is i don't know. i don't think public --dash particularly so. i don't like the new organizational structure which doesn't put an emphasis on expertise. i would much rather had that managed differently. but that's a separate question. what anybody ever pay for the misuse and abuse of this information.
i suppose robert mueller can look at whatever he wants too. they know this. there is an unwritten tradition not to reveal this because a lawsuit criminal prosecution would reveal some new sources of methods. it is better to let this person go free and then to reveal although we would have to reveal. to make the one thing i think that really does scare the american people is when we see as some of these institutions become a weapon nice. as we are starting to see examples of where nsa exceeds its reach. their right to be very uncomfortable.
select he is still running it. section 702 of the fisa act is up for reauthorization at the end of this year. has been reauthorized a number of times. this is the first time the reauthorization will ever occur. they will personally victimized by the usof section oh two. we might have a real serious debate about it. one problem is that some people that were opposed to it exceeded the facts. there's something called a mail watch.
the government can keep track of the return address in the postmark and the address but not anything on the inside the envelope. when you go from first classed letters to e-mails to cyber what's on the inside. how much can you store what can you check. and one of the things the nsa was doing was keeping a record of e-mail as they were authorized to do but not of looking inside the e-mail. that really got into a arm waving mode that this terrible thing to happen. now they have the content in the question. yesterday the foxbusiness
senior correspondent was first reported in the present shop has retained the services of mark kes with into claims that there was collusion. what do we know about that. before we get to that. my hat is really off to our good buddy. do you know where he was when he broke the story. still working the phones at 35,000 feet. it's a superb lawyer a new york-based lawyer mount washington dc. is not a person with experience fighting the government in criminal cases. at some point in time the allegations will be such that the white house counsel cannot get involved in them.
and therefore they need a lawyer totally loyal to himself. who do we think is can run the fbi. >> i don't know the answer to that. i'm a strong supporter of an outside independent person with law enforcement experience. he would be very well-respected by the agency. it really needs to be a non- politician. if i may say so they understand and it expressed the fourth amendment. there you go.
violence escalating even after the president declared martial law because of fighting in the southern city. the situation going from bad to worse there. the philippine president said islamic gunmen took a catholic priest had not beheaded in the city's local police chief. they cut short the official visit to moscow. in the southern city. isis has now claimed to be responsible for the fighting and because of that violence they had declared martial law and the island overall.
the fighters have taken over several government buildings in the city and had burned several others. we will keep you posted on that developing story. a massive land slide. bering and part of the iconic big sur is now under up to 40 feet of new rock and dirt. after one of the wettest winters in decades. but the first time in history in california and that does include the last landside over the weekend. while, trip advisor picking at the top ten landmarks and to visit. and guess who topped the list. the lincoln memorial coming in second followed by grand central terminal here in new
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victims of the terrorist attack in the united kingdom are being remembered around the world including right here in new york. the yankees a public address announcer ask if he is to remember at the victims of the heinous and cowardly attacks. and then following a link the moments of silence as we stand in solidarity and unity with people of the united kingdom will play their national anthem god save the queen. the manager confessed before the game that stating the security is always on players minds. you're always worried that that's the world you live in. moments of silence for the victims.
they won to force the game seven. the cavaliers took the floor against the boston celtics. and then it was gametime. first quarter. celtics up seven points tried to even of the series two games apiece. two of the 34 points have 23 more than he scored. james was that the leader. forty-two points. he hit for 19. the cavs came back from 16 down. and get within one went up going back to the finals against the warriors. beginning next season instead of receiving a 15-yard penalties for delays of game players will be able to celebrate in the end zone. we saw a lot of interest.
the joy in the individuality and frankly celebrate the game. the nfl commissioner also announced overtime will be tripped from 15 minutes to ten minutes. they will get to celebrate in dance. if you flip a bat it's a game. about the new york giants. we've never seen anything like it. how many followers do you have. when were looking at guys as a billboard on instagram he has
2.3 million followers. he is reaching a lot of people. that's why he signs a deal. i will be following odell beckerman junior on instagram as soon as we go to commercial break. he has glue on there. the only problem is the sports figures are always pushing the shoes that you can never actually get your hands on. i think we saw after 911 people come together. and nobody does it better. the sun right here in new york.
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well, there goes my boat. you can leave worry behind when liberty stands withou™. liberty stands with you™ liberty mutual insurance . . . maria: welcome back happy wednesday everybody thanks for joining us good morning. i'm maria bartiromo, it is wednesday, may 24th top stories right now 58 km on the east coast, president trump, visits the matterscan he met with pope francis overnight, the seek he go common ground after policy clashes the president no i head to brussels for a summit of nato, the president continues his foreign trip congress is with domestic agenda mnuchin omb director mulvaney head to capitol hill for hearings on the budget today mulvaney discussed it yesterday. >> we are no longer going to measure compassion, by the anybody of programs, or the number of people on those programs, but by the number of
people we helped get off those programs. maria: house ways and means kevin brady straight ahead the la.s on blanket he bombing police say they have made three additional arrests, in monday's terrorist attack another attack could be imminent in the uk cities paying tribute to victims of that attack empire state building eiffel tower going dark uber pays up admitting underpaid drivers in new york city past two years going to be costing uber millions now, as they pay up, marks are flat this morning,ing take a lo at futures a fractional gaen opening of tradingbookback positive, negative territory, throughout morning this morning, s&p 500 exactly where it closed yesterday, nasdaq right now up 7 points in, europe, the indices mixed ft 100 up a a third of a percent the cac quarante in paris the dax index in germany fractionally lower, in asia overnight, gains across the board to report, best perform in japan
nikkei average up two thoirsdz of one percent ceo facebook mark zuckerberg he returns to roots, details on his trip back to harvard will give commencement address today took selfies from dorm room former dorm room starting facebook, "top gun" makers have come back tom cruise hints when sequel will hit the big screen, coming up all those this morning joining me to talk about it fox business network dagen mcdowell o former goldman sachs thor, peter concern-, former ciae director james woolsey thank you so much for joining us. >> been fun. >> thank you. >> good to see you. >>. dagen: so much going on where do you -- >> again i think when you look at terror facebook in manchester that was an attack on children little children i think going to take long time left he needs to acknowledge that call kout radical islamic terror for what it is. >> he was on a watch list. >> right like so many other terrorists who killed scores
and scored of people around the the world last two years. mari lot to talk about joining the nversation paypal cofnder, mac with us, the president of the philadelphia federal reserve is here patrick, and at the owner of the falcons home depot cofounder joining us us as well plus host of "varney & company" stuart varney weighing in, you don't want to miss a moment do stay with us as we kick it off with top story, two top members of the trump administration, budget director mulvaney treasury seek mnuchin ahead at capitol hill to testify about the president's budget o proposal four trillion-dollar spending plan criticized by democrats and some republicans, for unrealistic cuts to social and examine domestic programs paul ryan said time to take a look at where the money is going. >> we should measure whether there is successful or not are we actually getting the outcomes we want or are we measuring success in washington based on how much money we throw at programs by automatic spending increases i
don't think should mush success that way measure success based on outcomes. >> calling for 2.6 billion dollars, for a wall along the u.s.-mexico border joining us right now chairman of the house aways means committee texas congressman ken brady good to see you thanks for joining news good morning. >> walk us through, the most important parts of this budget, a lot of people on the left are talking about cuts, but actually cuts to the growth of spending correct. >> this is a welcome change all my constituents want is a government that is efficient, that makes wise use o of money lives within means trump budget shows that is a big challenge, but we can change the direction the country is going, and so look i think this outline is a way that helps get us to a balanced budget sure we are going to make changes look when you look at stronger growth, the restrained spend raise revenues getting people back to work things businesses do to turn around, when in
financial trouble we use those same common sense technical nicks to turn country financial situation around as well. maria: let me bring you comments from committee for responsible budget projections appears based on unrealistic growth assumptions unlikely to materials she says the administration projection 3% economic growth of far above those outside o foreclosures and would require exceeding the economic performance of the 1990's she doesn't think it is going to happen. >> so we will look carefully at growth numbers i know in yesterday's hearing linde estimates house blueprint will grow u.s. economy over 3% here, in these initial two, three, four years selling good growth number we are going to work with treasury department on growth numbers in the budget make sure we get it right. maria: all right, let me ask you about -- in terms of what some people are calling another entitlement family leave situation, here you know
dagen has been talking about this this morning, why another entitlement? >> yeah so we will look carefully at that proposal. we've got the initial language, obviously from the budget, we are going to sit down with white house, to find out what they want accomplished in there clearly by estimates this could be a 25-billion-dollar type of spending program. that raises red flags in a austere budget that is still a deficits let's sit down find out exactly what they want to accomplish. >> okay you are looking at this a set of policy proposals you think it is going to look much different when all said and done. >> i think at the end of the day, congress is going to make its adjustments changes to it, it ought to. but, also, at the end of the day, we are going to pass a budgetto that balances within 10 years sets the stage for tax reform very bold progrowth tax reform, and budget resolution is the first and most important step in that. maria: let's talk about that because republicans are
pushing forward with a plan to repeal and replace obamacare we know the cbo score for the gop health care plan, is due out this afternoon, what should we expect centimeter. >> i expect a healthy deficit reductions in here savings for the budget so reflecting budget i think i am i am hope there will be lower premiums more stable pricing for those stuck in obamacare, over next two or three years, we are hopeful that this gives the senate a road map to continue to strengthen we have updated health care repeal and replace positive way i expect to see that rest that. >> let me ask you where you are in terms of work on tax reform, and on domestic agenda because we know, that, you know, there are a lot of headlines around russia a senate, doing hearings on the russia collusion potential story as well as the president's international trip. there is a lot of other headlines going on, where are
you on tax reform, sir? >> we are laser focused that is where we are at. maria: yeah? >> with the administration with the senate, on the issue tax reform we know we have to deliver with president trump, a bold pro tax reform this year we've got blinders on laser focused on this meaning regularly with white house and senate so we are going to continue on our timetable, for 2017. maria: skoo you still think you can get this done this year? >> absolutely i do. >> secretary mnuchin told freedom caucus that president trump is opposing a border-adjustment tax, is that off the table at this point? >> no, it is not. because everyone has another question, so what is the better idea, so we recognize border adjustment a bold changing matches what competitors around the world do we sincerely don't believe tweaking the corporate income tax will get us where we need to be in the 21st century from hearing we heard yesterday clearing bringing back
manufacturing and research and headquarters to america won't be easy, and it will take time, we are going to have to go bold, to do it and so we are open to better ideas, whether it is from the white house, from the senate, from any of our house republican members, in how we achieve, that bold progrowth reform this is look, tax reform, is a process, it is not easy, and smooth, like derrick jeter it is scrappy gritty, and there is a whole lot of work but at the end of the day we are going to dwlifr this president. maria: i like the derrick jeter mention there that you slipped that in let me ask you what are the alternatives are you thinking a higher corporate tax rate makes that money up? is an import tax and trade part of the economic policy makes that up? where do you make up the loss of more than a trillion dollars that you would have gotten in a border-adjustment tax? >> so we will lose -- leave that alternative to were those don't feel about comfortable
with border adjustment or equal taxation within u.s. ending made in america tax for those kwfshl that -- bring your ideas forward lets assess them lay them out together, but let's stay at the table until we get this done deliver this year. maria: for example, i mean, the president comes out with this idea of 15% corporate tax rate obviously you are not going to do 15% corporate tax rate right? what is likely corporate tax rate 25, 25% is that what you would like to see. >> so we are going to continue to work with -- i want 20%, legislator if we can, but as importantly beside the rate you have to redesign this tax code to be competitive and more importantly, it has got to be permanent if we want businesses to change behavior and bring and relocating those plans, and research back to united states, they have to have certainty not just for five or even 10 years, they see 30 and 40 year decisions, so permanence bold makes a difference. >> what about the about deductions what are you poised
to give on in terms of deductions i know that is a debate going on right now. >> so where are priorities in terms of he eliminating deductions. >> look, all of that focuses on what is the most progrowth tax code we can have? do we stick with old he corporate income tax model make tweaks see if we can't try to catch up with our global competitors or go bold with new system focused on u.s., focused on cash flow, again, meets and matches if to the exceed competitors those will be really important discussions, questions going forward. maria: here we are you know in doorstep of june what are these happening congressman i recognize you say look we are going to get this done this year, but the clock is ticking isn't it. >> it is ticking, which is why i think it is important white house the house and senate continue to work toward together, toward a single unified tax plan, if that is possible, i think that dramatically increases our success for this year. >> congressman we will watch
♪ maria: welcome back i want to show live pictures president trump is boarding right now air force one ready to leave italy flying to brussels will meet with eu officials have lunch with new (ch president macron dinner with leaders there dparlth italy ready to get on air force one to depart for brussels, the united kingdom raising terrorist threat level from severe to critical. that is the highest it has been in a decade, cheryl casone with details. cheryl: this is right maria this means that soldiers are now o deployed on britain streets to boost security assist local police, only the third time uk reached highest tier other articulate level under alert system. >> it is now concluded on the basis of day's investigation the threat level should be
increased, for the time being, from severe to critical. this means that there assessment is not only an dynamic rails highly likely but the attack may be imminent. >> a definite after a beaming attack killed 22 in ariana grande concert in manchester, police arrested three more suspects in connection with with that attack. we just saw president trump leaving rome but met with pope francis at the vatican. earlier, of course, this is the third leg of first foreign trill completing two shook hands before heeding into pope'si private study he uses only for official occasions, set themselves at at the desk in front of media held a private meeting for 30 minutes. the pope gave the president a small sculptured olive tree told him it similar blooifd peace trump gave the pope a box of books of martin luther
king, jr., the president met with sergio, i at the palace in rome leaving italy for brussels you saw on its way there. >> well headlines for you this morning uber says it wants to make things right with its drivers as soon as possible pop. the company admitting it underpaid drivers in new york past two and a half years. uber said it figured commission based on growth before taxes and fees, uber going to based on that net fair average driver in new york refund of 900 bucks, that could amount to tens of millions for uber 45 million the payout uber said it is tens of thousands of drivers in new york city. >> maria the year was 1986, when famous line was first spoken on film. >> -- >> ooh.
>> if you like original tom recuses says get ready for the sequel filming probably next year on "top gun 2", made comment in australia for another movie in case you haven't seen it where are you if you haven't seen this really. >> u.s. navy fights polites maverick ice goose stant hit grossed 2 -- 356 million dollars looks like director obstruct anaheimesh coming back as well val kilmer said what a hoot it is going to be. >> older than in 80s can't wait to see what that is going to be. >> great, thanks, coming up another interest rate hike could be around the corner federal reserve president is here weighing in when we could see, rates rise again, and how he see it is economy right now, markets up reconnecting with old school the facebook
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loaders. . maria: ceo facebook mark zuckerberg continues yearlong joyner cross america yesterday he took a walk down medical lane stopped by harvavrd dorm room with wife where it began, bring in former ceo paypal ceo cofounder of affirm joining us great to see you thanks so much for joining is. >> thanks for the having me. >> affirm, i know you are
appealing -- what is your take on zuckerberg, crisscrossing the country getting idea of how people are living outside silicon valley. >> most americans use product twice a day pretty good idea to find out exactly what life is like so i think great i think very smart of them. maria: amazing that the popularity of facebook that people are using it twice day what is behind it? >> connections. you connect to your friends your family, you keep in touch with it is the modern way knowing who is where. >> it is like technology changes so fast you know better than most, they have a group of people, and whole population, but you got to watch that instagram doesn't take market share that somebody else newcomer coming out doesn't take market share. >> sure, and, you know, instagram -- saw a new trend said we have to be part if not
have to own it i think doing a good job of that. dagen: know they are doing best job at monetizing the user base on instagram i would argue as user of all social media platforms, max laughing at me but they nail it when it comes to pushing advertising. >> true, in terms of of the monetization everybody trying to figure out how twitter is going to monetize its business, how tough is to it come up with monetizing of platforms so huge? >> it is a challenge because on the one hand you want to stay with audience not compromise where our delivering you have to make money so business, not a charity, a challenge certainly -- >> let me ask you about mark zuckerberg crisscrossing across going across the country getting in touch with facebook user, is some of that do you think because silicon valley i mean largely
politically liberal they were caught off guard by the rise of donald trump even donald trump's win as president, i certainly saw that here in new york city, but if you are a real businessman like mark zuckerberg which he is, maybe that was wake-up call to people to say hey we are really not in touch with the people who are using our products? >> i am going out on a limb you don't have to -- >> a little bit, i would say popularity speaks against that argument because he certainly appeals you know universally not just united states but cross the world knows what customers want without having to leave silicon valley all of us in silicon valley consider real people impact on people not just coast but. >> i country nothing quite works as well as going out there seeing what is going on speaking with customers prospective what hurts what is good what is bad i think very smart, motivation but seems
genuinely carries about life outside silicon valley. >> bubble of being a text billionaire. >> last time you joined us you talked about affirm starts affirm because here is what you said you said, we could build summer underwriting antifraud to improve on entire traditional system update us on a firm. >> doing great, we just announced we have made one million loans laser focused on sending consumers at point of sale creating lone specific to the purchase they need, basically offering simplest easiest to understand product for financing an item that you have in your hand that you want to buy and dwrg whether it is comfortable enough to afford that is for us to work on the to consumer based on fact i think the reason tired it is confusing people have
been harmed by products they can't understand, one of us go back to zuckerberg the reason out there talking to go people because k silicon valley is very aapparent that no, we don't actually understand what ailes some real people out there we understand at aif i remember confusion created by a lot of financial products suffered a point of sale elsewhere hurting people affairing something they can fundamentally ins, is -- we have been growing quickly we have thousands almost 1,000 integrations millions youring our product. >> that is obviously important you are building on idea that people don't trust the traditional banks. millennials. >> they have reason not to trust if you look at something like a deferred interest product where to rule too good to be true you getting caught off guard you you a almost twice as much as you thought you would, you find you yourselves wait a second, i thought it was getting great deal now i am in debt i might
be in debt forever, so eliminating that creating products that are completely honest about what they are what they cost, has been seemingly -- >> critical -- >> someone once asked hemingway how he went bankrupt he said very solely very quickly what is going to happen with big banks wake up are they able to compete with products like yours direct to consumer no fuzz imitation in between. >> i think very challenging for them not all are created equal i think many are finding out that the mobile age caught them of a guard the requirement of transparency caught them off guard among you new generation generations that have come before them realize you don't have to put up with the abuse practices, so a lot of larger banks have spoken to us said can we partner up figure out a way to work together technology,
faster smarter underwriting affirm does really well we have a lot to offer years of. >> gantic deposits, i think the up starts, have a integrate degree of work a lot of products are to rule sale inspired. >> they have got deposit base in terms of lending in terms of trading where does money come from. >> today we are entirely financed by some of the ep larger financial institutions we come to them say you may or may not understand how to speak to the younger demographics we do look at growth numbers performance, we think your money would be smart lent to us and then we can put it to work on your behalf of, so that is what we do today as we grow i am sure strategy will change. >> great to have you on the show we will be watching, still ahead weighing another
maria: welcome back. good wednesday morning, everybody thanks so much for joining us. i'm maria bartiromo. it is wednesday, may 24, top stories right now 8:30 a.m. on the east coast. president trump, meets the pope, the commander in chief historic visit to the vatican latest stop on first international trip since taking office tweeted on
meeting here is what he said, honor of lifetime to meet who will wisconsinness pope francis i leave vatican more determined than ever to pursue peace in our world president trump en route to nato summit in brussels we have payer he and first lady on air force one a few minutes ago amid a major agenda push white house delivering president's first full budget plan to congress, mick mulvaney did he having the proposal. >> we are not kicking anybody off any program who needs its we don't have enough to take care of people everybody who doesn't need help. maria: we are break he go down the budget this morning, the world is mourning manchester landmarks across the world lighting up, in support of the city following monday night's terrorist attack as police say that they have now made three additional arrests, in monday's terror twak latest mass stadiums on
high alert, a analysis emergency message flashed on scoreboard telling fans emergency had been reported in the building to evacuate the moments ahead markets flat today to look at futures indicating the broader averages fractionally higher on session dow industrials up 14 points nasdaq up 10, in europe, the major indices mixed throughout europe ft 100 up 21 cac quarante down dax index down as well? asia overnight, against across the board, fractional moves japan biggest performer up 2/3 of one percent. >> stocks in china shaking off a downgrade from a mood youy's cutting the credit of china for the first cut since 1989 break out pom-poms, nfl relaxes rules on touchdown cell braifkss what you can expect in end zone this season, all ahead, first investors eyeing federal reserve minutes set to be released this afternoon amid speculation that we will see, interest rates continue to
creep higher perhaps another interest rate hike, in june, joining me philadelphia federal reserve -- president, patrick harker, great to see you. thank you so much for joining us. >> thank you your take on the economic story right now how would you contact relies. >> i think sold economy looks good there are pockets of continued distress moving to 2% inflation target feel good. maria: you know we look at that gdp number that we got for the quarter, last quarter, 7/10 of a a percent people are saying what a here we are, at the start of -- ran interest rate increase, stream of rate increases is fed going to ray of rates just a at a time we are beginning to get trackion getting trackion 7/10 of a percent gdp i know is it backward looking i don't know what is your take? >> q1 always has issues had issues, measurement issues several years what we will see
if that rebounds in q2 what i am looking for. >> you are an fomc voting member this year. >> yeah. >> would you be poised to have a string of rate hikes this year. >> yes, so i -- asked for and my forecast is 3 rate hikes this year one under belt two more i think appropriate i have not factored in any fiscal changes to that forecast is to i think we measure those over remainder of the year. >> i think you make important point have not factored in fiscal changes in terms of the fiscal actuation kevin brady was on program chairman house aways and means says going to get tax reform they are getting a trooechl done this year if tax reform happens we get a lower corporate tax rate does that change a dynamics. >> it could devil in details we need to see what that policy is, and how that will affect the economy long run. >> us june on table for interest rate increase. >> every meeting to me on the table. >> we probably invite hike june. >> we could. >> let me ask you this, because one thing i spoke with
ben bernanke about other day actually is sides of the fed balance sheet and the shrinking of the balance sheet how tough is that going to be. >> i don't think going to be tough. >> you don't think going to be tough. >> no, i think we. >> you are on five trillion dollars 4 1/2 trillion-dollar balance sheet. >> goes back to sm-- >> talking about the level reserves we need to effectively have a monetary policy he implementation for the country, so what that number is the number varies between 100 billion a trillion, call it 500 billion we need to effectively administrator monetary policy. >> how do you do that unwind it month by month or quarter by quarter how does that happen. >> o to me basic design keep it simple as possible, and signal to the markets as early and often as possible, how we're going to do it, just let it run off, in a very simple way ally so much per month or having caps on the amount we
reinvest roll into markets vary options on the table, i think we haven't decided that yet but my view is keep it sip of let markets know what we're doing to minimize any disruption to the markets. >> you want as transparent as possible. >> simultaneously. >> even with interest rate increases feels like the fed numbers your colleagues transparent, three hikes this year. >> i mean i think that is part. >> -- >> we don't want o to surprise market. maria: right. >> tell us about your district what is going on in philadelphia right now? . >> philly one of the smaller districts we are microcosm of the country, we have urban center, the same time philadelphia top 10 poor of the major city in america we have struggling communities we have launched a problem economic growth mobility project to not only conduct researcher to help but bring people into field to help communities solve problems they are facing. we want to bring research to bear. >> when you get to the subject of jobs, this is where you
know, policy coming out of the administration, so dovetails with what is necessary in terms of of employment opportunities right talk to us about that, you -- do we need more people. >> so -- yeah, we do, if you look at if we want growth to be higher than what we have today we need productivity growth and/or growth labor force, both cases, those numbers have been low, if you think about growth labor o force it is extremely low given that we the boomers are retiring. >> what would you propose then in terms of how would you advise the president in terms of immigration law, given these concerns? >> so i am not in business of reviving the president, or congress, on any policy. outside my wheelhouse that said i think there is economic fact we need more people, in the work force whether off shrines with development programs other such programs providing infrastructure this is part that people don't often think about, transportation housing you can have a job can't get to job i
don't have a job so those infrastructure issues are really important, and how we let people in country that is not in my wheelhouse we need to say skilled workers. >> i think you make a really important point we have been talking about president's budget this morning the budget obviously, is being debated on both sides of the aisle because of rosy proengzo projects of 3% growth is that he achievable. >> long run productivity growth is key to this, plus growth labor force we can get a short term term bump if we stain growth higher than we have today we need to make investments in improving education, infrastructure, you name it that will increase the productive capacity of our economy. >> there are jobs to be had, but there people don't have skill sets that are required. >> yeah i hear this over and over data shows this too, if you look at the hires, versus options openings persistent
over last several months several years one capital, there is a truck repair business i know guy doubled size of truck repair operation, he has half bays empty can't find qualified medics paying over 100,000 a year need digital skills not enough to have a strong back strong will you need skills. >> is onus on business or on government to provide those skills? >> where does this training come from is this a government you do you think. >> the answer. >> both. >> it is really needs to be a partnership. >> all right we leave it there, great to see you patrick thank you so much president philadelphia federal reserve, breaking news right now house speaker paul ryan speaking in d.c. right now listen in. >> -- sorry about that. >> so -- you were -- stage chatting with bob wood woodward you have we know interviewed by bob wood woodward many times over years i like.
>> it is actually entertaining he gets more out of you than you get out of him i'm sure i learned a lot from bob wood woodward enjoyed him work for a long, long time. teller aren't many people who can sort of see around corners in and out of scenes and venues like bob can doing it a long time. >> -- >> -- politics, this is -- you -- this is president obama highways republican leadership ostensibly in there. >> we talked about those days. >> so --, question bob wordward had you became 54th speaker of house october 2015 what is your greatest accomplishment. >> well, first of all we were in disarray we unified, i think that was important, since coming to office, i think we had to figure out how to make body of government work with obama make sure we didn't have government shutdowns we got things done, i think that was important. i like the way we end it had
year with -- with antibody on cures opioid that was big issue everybody believes in it had been years in the making wasn't going to get down to kick to next administration i like the way we ended on that, now, we've got wooth to go from becoming opposition party if -- governing party for good 8 years our party has been opposition party mode. >> who you is government thing going. >> that is what i am getting at. >> warming up here, huh? >> two-thirds of members came since 2010 ant obama wav conservative districts to fight opposition party to governing party the health care i wouldn't want to repeat health care experience but glad we went through i it, with cathartic what it did it got our members to acknowledge that they had to come to consensus.
that a person with an r22 district in deep texas, had to accommodate, consider, this can about work with a person with a moderate lean democratic suburban district in northeast getting members to do that something they hadn't had to do until this year getting them to do that in health care was really very, very important i think for us. >> mr. speaker i am glad you enjoyed it so much looks like you will get -- >> it is -- it is exactly. it is one in three state process house has done does its things the senate, going through the same process, but statewide senators have this sort of coalition complex in their state. the rest go to conference, but we are working on tax reform appropriations very excited about regulatory realism agenda pretty tar in that 14 congressional u.s. signed into law, that is only used once
every before, so we feel like our regulatory realism agenda has gone very well that was first part of our plan because that is a time sensitive thing then we wanted to move through health care now got to move on with rest of our agenda, taxes a long year effort, because it is hasn't been done since 1986 then we've got to get appropriations the appropriations done pretty good down payment on military, and now we have to go back at rest of the of it this center. >> is -- mike's top 10 official person close to the republican congressional leadership told jonathan this is going to be the autumn of discontent for republicans come back from a summer break will not have based on collateral damage you articulated not major pli.. >> i wouldn't say that i debris completely i heard you is a i that i brought e-mail look what we have done already -- number of bills
passed house in first 100 days of new presidency, 22 in bush "41", 28 clinton, 42 for george w. bush 94 obama, 103 house republicans first 100 days, law signed into law first 100 days 128 for hw. bush, 24 clinton, 7 for george w. bush 15 for obama, 30, 30 in this congress first 100 days, congressional review act how many before this presidency one, how many in law? 14. i think we in been productive i feel really good about that. >> when we get to december 32rd, you go away for christmas, the president -- >> that is date i will take, we got to tet tax reform done by then feel confident we can do that confident you will have tax reform finished on president's desk by the end of the year. >> yes. >> how do you possibly rewire economy in a couple months. >> it is not a couple months it is a year, this next
december you said, did i get that right. >> december 2017. >> yeah, so we he our goal not to at a tax reform slipped in calendar year 18 we want to make sure by the time, the year closes, people are going to come into a new tax system tax code ambitious agenda focused on achieving we've got to get tax reform done, we want to get our appropriations process up and running, for us means beginning to rebuild military, we've got ambitious plans for reversing hiring of military a lot of xhoerz to do on that, immigration. board security biggest increase in board security in 10 years last on appropriations bill we want to improve upon that work pop. so not to mention health care law, the health care act there is a lot that we have on plate i would say come january if we have taken 14 regulations off the books that were costing jobs, producing uncertainty we
have begun a process of rebuilding our military cut taxes cleaned up tax system, and we fixed health care from a collapse, that is a pretty good year that is a pretty darn good year the year we are on track for achieving that is the year we are focusing on. >> white-knuckled page of the health care bill the first time will come back, from the senate there is no sign that it will be in a form that is more appealing to your how do rework that rue bikes cuba this formally. >> definitely a rubicks cuba about to reasons first one insurers telling is we need to submit our rates, or plans for 2018, between april 30 and june 30 for the states so we are in middle of that window what are we learning in that window the thing is collapsing, aetna they are gone pulled out, united pulled out, iowa, nobody is left. you can't get an obama
exchange plan in a 94, out of 99 counties what we are seeing round higher double-digit premium he increases pull out co-ops are collapsing, so i think what is happening people are beginning to realize as summer in folds people are going to begin to realize this law really is in a tailspin, this is a rescue mission we have to intervene step in front of this crisis so people who are out there in individual markets can actually get affordable health insurance a plan to choose from they are losing that quickly so i really do believe that dynamic is such that yes, the rubik's coup hard i assume senate will change a bill, i think our members have travel a long journey few months to realize you can't get everything you want, this is clearly better than the status quo, it fulfills our promise one of the most prominent promising we made the system is collapsing we've got to do something. maria: speaker ryan at axio summit we are going to dip back into it should news
develop there, talking about health care, and tax reform he reiterated what kevin brady told us they are committed to doing it this year a quick break we are here with atlanta falcons owner. stay with us. back in a minute. bp developed new, industry-leading software to monitor drilling operations in real-time, so our engineers can solve problems with the most precise data at their fingertips. because safety is never being satisfied. and always working to be better. i am totally blind. i lost my sight in afghanistan.
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that stadium on high alert around the world tell us how you see it. >> well i think, it is certainly an issue national football league is very sensitive to has been very sensitive to for a a number of years we have worked, closely with security departments across the country, including homeland security, for our situation stadium we retained an organization that we use nfl for super bowl, but events that you have to keep current on you got to make sure that you understand, all the dangers how they are changing, and make sure, that in addition to everything else doing for fans we got to make sure first and foremost they are in a safe environment so whatever it takes to give that certainty to our fans is critical, and certainly do. >> you see changes happening as a result of this. >> i think so. >> have new things in place. >> i think so i think the perimeter continues pushed out further obviously what happened in england was -- was
unbelievable tragedy you have to figure out creative ways to go out further to make sure that these situations can be limited. of the it is hard when you have a garth in place that many people. maria: for sure. >> some point you he do create a frontal that is where the most s exposure is. >> so -- >> moo at the mercedes-benz stadium tell us about state of the art stadium right. >> right you and i know each other for many years when i cofunnied home depot we tried to leapfrog industry by seven or eight years in home improvement center. >> you did a good job with that. >> we did starting in 81, 79, and 81 we are trying to do same with stadium we studied every point of fan experience, a part of our team.