tv Cavuto Coast to Coast FOX Business June 30, 2017 12:00pm-2:01pm EDT
president moon suggested that president trump had been candid in lengthy conversations with him. that wraps up the joint appearance moments ago in the rose garden at the white house. my time's up. neil, it's yours. neil: stuart, while i still have you, i'm not quite sure your position on this tweet thing. [laughter] just want to check. stuart: do you want 30 seconds on it? neil: no, no. just seeing how you're doing -- stuart: are you cutting me off? [laughter] neil: yes, i am. because when you get mad, i get very scared. stuart: i'm not mad. i'm disappointed. neil: you know what? i'll hear you on that. i think so too. because every minute we're talking about, like you said, is a minute that we're not talking about that agenda that is decidedly more popular. i guarranty you, it will not be discussed what you just left, this summit meeting at white house. won't get much coverage either because of that. thank you, stuart, very, very much. we are on top of these developments here. president wrapping up session
with south korean counterpart. we're told there will be outside pressure on china as well, includingç a certain chinese bk that does business with north korea. for more on this session that included no questions from the press, let's go to blake burman in the rose garden at the white house. hey there, blake. reporter: neil, we knew boeing this there would be no questions. this is second time in a roy with indian prime minister this has been the case. just statements, no questions from the press. two big topics here as you just heard from president trump and south korean president moon. first the issue of north korea, newly elected leaders, both took strong stances saying that issue needs to be dealt with. pressure needs to be applied, both saying they will confront the issue in some form or another. the president talking about
exerting pressure as it relates to economic means and diplomatic means and the era of strategic patience is over. the other issue deals with trade. the united states has a 28 billion-dollar trade deficit, at least in 2016, this was the number. president trump talked about how that trade deficit moving in the wrong direction since the trade deal was signed with south korea six years ago back in 2011. president trump urging fairer, fairer trade, talking about how the autos are not necessarily dealing on a level playing field with south korea. the issue of dumping steel into this country as well. it was interesting, when the south korean president talked about trade or at least the economy, he talked about producing economic growth and producing jobs, not necessarily hits on trade. earlier here at the white house the top economic advisor gary cohn.
commerce secretary wilbur ross, talked about trade with china. how they need to close the gap as it relates to the trade deficit. on the united states side today, lots of talk about trade how to close the gap. the south korean president talking about need to promote economic growth and job creation. both issues though, neil, this visit from the south korean president, got here last night culminates with the statement here in the rose garden. neil? neil: thank you very much. blake burman at the white house. i want to update you on the potential china sanking move. what the -- sanctioning move. what the trump administration is going to go after the bank of dandong. i hope that is right pronounciation. it would be sanctioning or fines or freezing assets that might be involved. how we could do that is anyone's
guess. it would presumably affect whatever u.s.-chinese bank does here in the united states. that would offset a like amount of transactions with north korea. that is my best guess on that. i could be wrong. i will follow up on that because much has been said north korea isn't budging and we're not getting much out of the chinese trying to get them to budge on this nuclear step. maybe we'll start applying pressure on chinese. something the president hoped to put off until he saw signs the chinese are doing something. this would seem to represent frustration that china is not. we'll keep an eye on that. that could be a big development. one bank, then others, maybe signed a administration will widen this out, get tough on china as well. there is growing optimism republicans will cobble together
some revamped deal will happen, at least not to anyone's liking. there is a separate effort right now being suggested, one that the president apparently is a fan of to nix this whole strategy. get a repeal effort going through. repeal obamacare outright. deal with something a little more involved coming up with something from scratch later, which would mean put this aside, then deal with the tax cuts. however the market is interpreting that, by the way, it is not exclusively that. some of the issues, particularly technology issues yesterday really got it on the chin. it might be a bounceback from that. let's get a read on this day, this moment, brian wesbury and "washington free beacon"'s list harrington. the markets areç convinced they might see a deal it may be late but won't be negative very.
are they getting ahead of themselves? >> i don't think so. if we remember what happened with the house republicans everyone said the health care legislation was dead the first time they did not get enough votes to pass it. six weeks later, they got together, they passed their version of the bill. i think something similar will happen in the senate but this idea that president trump endorsed earlier today that because the senate is trickier because you can't lose, you have very few votes that you can lose to get something done, if they can't do that on health care, and what senator ben sasse suggested and trump endorsed, just do a straight repeal i think is a good strategy. because it will finally force the senate republicans to do something on health care which they have won so many elections promising to repeal obamacare. they need to do it. if they don't get enough votes, if they do a straight repeal, that will finally force them hopefully to enact some health care reforms they have been running on for so many years. neil: brian, look at big
economy, bigger picture here, does it make a difference in your strategy if we get a deal on this, if it is delayed, if tax cuts come in 2018 rather than 2017, any of that factor in? >> neil, it does, but let me kind of describe two worlds, at least the way i look at it. one, if you look back at the last eight years in spite of higher taxes, in spite of obamacare, we, the market, it is up well over 200% from the bottom in 2009. and i think that is a testament to the power of entrepreneurship, the power of our companies and new inventions. it is amazing. corporate profits in the first quarter of 2017 were up 14% over a year ago. and guess what? the s&p 500 is up 15%. and that is in a 2% growth economy. if we want to grow fastser than 2%, we have to get these things
done, tax cuts, true regulatory repeal, reform of obamacare, and if we do that, and accelerate the economy, i think things get better, economic growth grows faster. earnings grow faster. the stock market can go up more. it doesn't mean the stock market can't go up if they don't happen right away. so i'm sure hoping that we get those things done but i'm optimistic. neil: all right. i want to bring charlie gasparino into this, guys. charlie, your reports of frustration on some republicans whole health care tentative step forward, step back, just some want to move on to other stuff. >> it is obvious the president is starting to listen. this seems like logical way to do it. health care is a morass. will be very hard to repeal or replace. president obama didn't create rube goldberg contraption that is the health insurance. neil: it was smartly put together. >> it was put together over a
year. you will not reduce, basically replace it in a, in 200 days. so what they're saying, they have been pushing the white house, is, go to tax cuts fast. looks like they're doing that by saying we repeal. we'll replace later. do marginal stuff. it will take some time. neil: weren't they going to use health care thing as baseline on taxes anyway? without that, it could be complicated. >> it could be complicated. neil: i can't see paul ryan going along with it. >> i'm not a budget guy, i'm not mick mulvaney, my guess the republicans know right now, and paul ryan knows right now they have to get a tax cut, what brian said is 3% growth. we should point out, brian made a really good point, i keep telling you this about the stock market. there is a lot of reasons why the stock market even without tax cut might not implode. less stocks than there were. interest rates really low. corporate earnings are okay. that is basis. how do you get the economy growing 3% to repay budget
deficit down. running surpluses instead of deficits. how do you get stock market to break out where it is, go further in the future? there will be fall backs. only way to get fiscal stimulus. what the market is dying for, and begging for is a corporate tax cut that says, 20 on it. 20% -- neil: not 25%. >> i think 20 they would be happy. neil: substantially lower than where it is now. liz, one of the things came up, i don't think in this world, partlies disagree with charlie, he think markets hang on everything that is going on andç prospect of tax cuts. as proof of that yesterday, when this tweet storm first started over two msnbc hosts having a battle with the president, then the markets started tanking. i'm not say exclusively over that. i saw it in my naive way. another distraction from an
agenda they do welcome. what do you think? >> i think the market certainly reacts to everything but i think this is one of -- neil: you agree with me and think charlie is a fool? that seems to be what you're saying? >> i wouldn't go that far. [laughter] >> you are always beating me up. >> story goes away by next week, 4th of july, nobody will be talking about it. they will still be talk bag health care and still talking about tax reform. i think health care you have to get rid of obamacare taxes before you do tax reform. neil: they're not talk not even doing that. one idea, keep surtax on rich people. >> i think that is something the republicans can not compromise on. >> why do you need to reform health care? brian might know answer to this, before you cut corporate tax rate down to level sort of in line with the rest of the world? i can understand putting off other tax cuts but market, listen, i'm not rich fat cat. i just know that we need
businesses to hire. neil: actually you are. >> kind of. we need businesses to start hiring. i like the market going up because believe it or not, middle class people have money in pensions. corporate tax cut seems a logical place to start. why do you need to reform health care? >> charlie is absolutely right. the individual side -- neil: i really wish you hadn't said that. >> but not the corporate side. you can dot corporate side without the health care component. >> yeah. >> one of the great things about the corporate tax cut, it pays for itself. you will immediately get capital gains. once you increase after tax corporate profits. stocks market goes up. neil: what if that is all you get, brian? what if that is all you get? you cut your losses, so sort of go for what you can get? corporate thing is broader to agreement to charlie's point than a lot of this other thing. you get that. maybe that is all you get this
year? you don't get health care stuff. you don't get any of that. you just get that, corporate relief? >> like souping up car, right? if you put a turbo charger on it. put a bigger fuel injector, put special gasoline in it. everyone of those things make it go faster, if you just get corporate tax rates. i say we get 2.6, 2.7% growth. that still better than 2%. neil: or 1 1/2% right now. to that point, liz, if that is all, you have talked to a lot of these folks on both sides, if that is what we're left with, just sort of corporate relief, and they will tackle personal rates. tackle repeal and replace. next year if they can, then what, what will the fallout be. >> that is absolutely a good idea, but i think republicans in congress can't work on both things at once is pretty absurd.
neil: they have proven that. i agree with you but they have proven it. >> right. the other problem with the health care, getting those taxes under control, obamacare had some taxes in it had nothing to do with health care. now you have moderate republicans in the senate saying that we're not, we're not going to get rid of this tax on investment tax on the rich because they're scared about medicaid funding in 2035. neil: to your point -- >> they need to get rid of all these taxes. neil: a lot of initiatives, say not in a lockbox for just this sort of thing. >> why even get into that morass immediately? we know that obamacare is horrible. we know that it is packed with taxes, and a bizarre way to allocate insurance to people. we know that. it is not going to be undone in a day. we also know u.s. companies taxed at much higher rate than rest of the world.
u.s. companies higher people, and guess what, a lot of time they get health care. this is low-hanging fruit. you cut the corporate tax rate. if you get 2%. guess what president trump says next year? screw the russian probes. neil: a lot of people swear by obamacare talk about increase in coverage. a lot has nothing to do with obamacare. people got jobs and got it throughç work. >> absolutely. >> exactly. neil: thanks, very much. therethere will be punishment fr those that agree with charlie. we'll break down the first half the markets and what it means for you and your money. i will cut to the chase. one of the best first halves in better than a decade. we'll explore that. what the heck happened to commodities? they fell through the floor. sugar up big, big, big, horrific
half of the year. and i'm sure my diet had nothing to do with that, but i'm just saying. meanwhile we have concerns about president trump's tweets. you've heard that before. but the big concern these days seems to be not what he is saying, it is how much it is distracting from the very things he wants to do, after this. ♪ [ crickets chirping ] [ light music playing ] you've wished upon it all year, and now it's finally here. the mercedes-benz summer event is back, with incredible offers on the
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he calls the golden day of america energy. we're about to become a energy, porter. this is a -- exporter this is huge development. he took focus off of it. neil: in other words, the president is doing big things, consequential things, big agenda, consequential agenda, whether you support what he does or not, a lot of people on corner of wall and broad, investments tied to that agenda. seems every time the president goes off track and so does that agenda and so does the administration. now 71% of americans feel tweet something getting to be ridiculous thing. it is hurting hill. that was before this latest tweet he in which he goes after two anchors on msnbc. to bush 43 special assistant, ron christie and democratic strategist, sarah. what do you make of whatever the president is saying what is
hurting that is coming back to bite him? his own tweets getting in the way of his own agenda. what do you think? >> to say the least. his tweets are a constant distraction and take us away from a real conversation that we need to be having in washington on important issues like health care and tax reform, and what we're growing to do about college affordability. that is the biggest problem. neil: to be fair, a lot of people on the left don't want to talk about those substantive issues. you move on to russia and collusion and all that, right? >> i would say, neil, this past week we have seen people on the left really coming out hard trying to have a debate about this health care bill. there is no hearings. no expert testimony. the grassroots are making their voices heard. neil: agree with you, at this very least takes away from that. and, ron, i bet you would agree this is something that doesn't certainly help the president? >> good afternoon, neil. certainly doesn't help the president.
as my friend ari fleischer said at beginning of this segment, it is so important when you're president of the united states to have a message, articulate that message and show the american people why your leadership, why your style, why frankly your tone is something american people should listen to. what we're seeing here with president trump right now is, getting into what i think is the gutter of politics, of insulting people. inspire people, mr. president. tell them -- neil: i don't know, i'm not against tweeting per se. i think it is remarkable vehicle which to go beyond the press and powers that be in washington or other party, your own party, et cetera, stick to winning subject. stick to something that elevates that cause or those efforts. my only concern with the president, side tracking tweets is that, they don't serve that purpose. i know you're not a fan of his agenda, sarah, i would imagine. we're not talking about that agenda.
we're talking about this stuff. >> he could do a lot to talk about republicans in congress. we're not having a conversation about tens of millions of people who stand to potentially lose their health insurance. on this first day of the july 4th recess as members go back to district, they will be hearing from their constituents about this. today, my organization, the pccc, is announcing we'll expand ads elevates voices of real people. neil: what is your organization? >> the pccc. progressive change campaign committee. we'll be airing ads featuring real people that are going to stand to lose their health care, and in west virginia, texas, nevada, and arizona. members of congress will hear from that as rest of us are talking about trump's tweets. neil: ron, one thing has come up, in sarah as comments whether republicans will do that or not, republicans are getting blame for the problems of the affordable care act as it stands now. that blew me away. they had nothing to do with that. if it is that bad, now they're
not only getting low ratings for the ideas they're coming up with, but the law itself, for which not a one of them voted, what do you make of that? >> you know, neil, this is all on us, it is our bad. we had seven years of republicans to explain to the american people, educate the american people how bad the affordable care act really is. the president's promises were not true. the costs gone up significantly. so many people lost their insurance coverage, republicans say give us chance, opportunity to get back in power, look at things we'll do. here we are, seven years later, republicans are now going to own this. democrats are crafty saying donald trump and congressional republicans are trying to take away your health care, how bad we are, when we missed narrative and opportunity to explain, we need to repeal and replace, have a better option. neil: i want to thank you all. it is a mess. tweet to focus. focus to tweet. meantime, did you hear the one about the democratic
congresswoman from texas, sheila jackson lee, who is saying you know what on this tweet stuff, mr. president, on that alone you should resign. >> there is no way that we can entrust this law or any other laws to this president of the united states. he has lost the trust and i will vote for nothing until he steps down. neil: put her down as a maybe. okay. i was just looking at this, do you know, you know what she is talking about? the 25th amendment. think about that, the 25th amendment, which was, came into place in in 1967, if you just look at means which they use the 25th amendment, when the president is either incapacitated or deemed to be inpapas stated on part of his cabinet or vice president what
is crucial here, the vice president has to agree that the president is indeed incapacitated. doesn't have to be physically incapacitated. he can be deemed mentally incapacitated. that is the delate, that is something that the texas congresswoman is getting into. can you imagine if that develops into a big thing back and forth, can you say, awkward? we'll have much more after this.
your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. >> together we're facing the threat of a reckless and brutal regime in north korea. the nuclear and ballistic missile programs of that regime require apdetermined response. the north korean dictatorship has no regard for the safety and security of its people, its neighbors, has no respect for human life. neil: all right, the president a
short time with the south korean president, moon jae-in. part of that is not just against that country, the most sanctioned on the planet but to get tough with china as well. former u.n. ambassador john bolton joins us from france now. there is a slight delay. ambassador, what do you think they're talking about? >> well, i think if, it looks like we're going to have continuation of the past 25 years of policy of trying to put pressure on north korea. trying to put pressure on china, to put pressure on north korea. it is not going to work. we've tried this. we have tried this mix of negotiation and sanctions, and it hasn't slowed north koreans down at all. china says they don't want north korea to have nuclear weapons but they have not pressed way they uniquely could to put pressure on north korea.
so i'm afraid after 25 years of failing with this approach, trying it in year 26 isn't going to do any differently. neil: what if you're targeting china. one issue come up go to chinese institutions go to work with the north koreans? one of them is the bank of dandong or chinese, rather large chinese bank because financing north korea endeaf verse, finance a lot of foodstuffs, that sort of thing, what do you make of that? >> two questions. smaller question of this particular bank we announced sanctions on it is endemic on focus of sanctions. whether you sanction that named individual or named corporation or that named government entity. you're almost guarantying sanctions can be evaded.
we sanction the abc bank, they can't do business in america, what happens the next day, suddenly springs up the xyz bank has a post office box number different from the abc bank but it is the same thing. it is a cut out as they say. precisely. so the bigger question how you deal with china. that is why i think we just have to face up to 25 years of trying policy that hasn't succeeded. we need a diplomatic approach. i think it is harder, more likely successful to get china to agree to reunite two koreas. that is way to end the north korean threat is to end north korea. neil: i want to get your thoughts on democrats so angry with the president tweeting, everything else, some want him impeached, asserting the 25th amendment to show he is incapable of performing these duties as president.
never mind that this is never been implemented before in the 50 years it has been in effect but what do you make of that approach, period? >> well, i think it represents a fundamental unwillingness to acknowledge that hillary clinton lost the election on november the 8th. if it weren't the tweets today, it would be something else. it would be, remember the collusion with russia no nobody's found any evidence of? they simply don't accept donald trump should be president. i think the voters by and large are just going to discount that it is useful because it blocks the accomplishment of the trump and republican congressional substantive agenda. get obamacare repealed. get tax cuts enacted. cut through the regulatory morass. that is what this country really needs to get the economy going. and efforts that distract from that i think hurt of course. neil: ambassador, thank you very, very much. enjoy paris as it were. my french accent.
meantime, speaking of something that has a little bit after french feel, do you ever try the endless breadsticks at olive garden? that is not a french concern. connell mcshane is kind of french. actually he is not but how would you like to get these delivered to you? yes, breadsticks and connell, after this.
♪ neil: i sure hope it isn't true. keep it together. adele says she may never tour again. i don't know why. she has, one of the most beautiful voices on the planet. she and i go way, way back. okay, we don't go way, way back. but she still has one of the best voices on the planet. she kind of hinted about this. it is a rigorous schedule to go up there, perform, incredible perform are. but she might just hang it up.
what is she, guys? she is not even 30, right? i just hope it is not true. the staff had to relay this to me. i don't know how i can get through the next hour and 20 minutes. i'll try. maybe this will help. olive garden delivering sticks. -- breadsticks. connell mcshane on stunning development that will wash away our tears. reporter: we're starting to worry about you. i mean collectively, with the staff, not only adele thing, number one, but you sent me to olive garden to essentially talk about a story about amazon. so your motives, i first didn't know what they were but then it was pretty clear. neil: and food. >> all about the breadstick with cavuto. of course, music and food. it is actually is an interesting story. so that is why i'm happy to do it. but he it is about the power and reach of amazon. we learned last night of darden restaurants, parent company of olive garden where he am
standing here, they want to team up with amazon, test out delivery of breadsticks or maybe full menu. we don't know the details because they haven't made them public. details are less as the amazon coming in maybe yet disrupting another industry. olive garden has pretty young audience. little men ya'll play -- millenial play, 24ers are millenials. amazon comes in, depending how big they go, maybe disrupt food delivery from restaurants. other companies do this like grubhub and others. what is the effect? we don't know. bring it together with another story, amazon teaming up with nike, nike shop first time at amazon.com. if you want nike shoes, you had to go third party for nike. partially doing well because of this and because of their earnings.
they deal with nike, what does that say for dick's sporting goods, retailers where you go to their website to buy sneakers, now directly go to amazon. bottom line look at both of those industries. there have been other examples, walmart tell you about this, amazon comes in and industry which they enter is never the same. i don't know if breadsticks or restaurants are that industry. i'm so close i could cut out the middleman, pete and i could be in studio seven or eight minutes if you're interested. neil: well, go, go. let me ask you, what is to stop me from just calling olive garden having them delivered themselves? depends if they do, no? reporter: well, that was amateur by move, eating breadstick knowing, should have known you would have a follow-up question. neil: i wasn't planning on it i saw you eating. >> they have to have $500 plus. has to be a large catering order to do it. they do it third party.
now i think you can order like i did, half a dozen breadsticks, amazon guy would have it there half an hour. whatever it may be. we don't know the details. they will test it out. neil: let's see how good you are. connell, thank you very much. reporter: you're welcome. neil: almost made me forget news on adele. reporter: i know. neil: if you're just joining us, adele might hang it up, end her singing can require, retiring attender age of 29. i don't think that makes sense, adele. where was i? yeah, silicon valley. that is where i was. also, a big market of all things adele an big perks. i'm talking, these are adele sized perks. major celebrity sized perks, that they're offering to essentially interns and a lot of them beginning workers. hillary vaughn outside of facebook headquarters with more on that. hey, hillary. reporter: hey, neil. that's right, internships are
getting a major you were grade. gone are the day of college credit, making coffee, getting coffee. now some interns making more in one summer than some people make all year. those lucky few interns are working at top-paying tech companies like facebook, amazon, and microsoft, and these companies are competing for college grads of the they want to land the best and brightest. that means they have to offer the highest pays and coolest perks. so we talk to some of these interns. we asked them what it is like. here are some highlights. >> it is basically summer camp but you get paid instead of paying for it. >> my team actually did a whitewater rafting trip during the summer, which was a lot of fun. >> there are nap rooms around campus. if you want to take a nap during the day which is really nice. reporter: amazon, amazon interns get to bring their dog to work every day at facebook. they get free food. all campuses have cool places to hang out, art studios, wood shop
and arcade game halls. all these perks are a goal for these companies to fill the ranks with the top talent. >> you will hear a lot of interns talk about the fact that they're so busy with work and fun, the summer absolutely flies by. that is on purpose. at the end of summer we want them to crave coming back to do more. >> neil, this big payday means big responsibility. all of these interns are treated like full-time employees. they have real responsiblities. they are working on real company products that help the customer. neil: existing workers, lowest rung workers, how do they feel about this, you know? reporter: that's a good point but we do know that all employees at all of these companies get the same perks. these are not perks allotted to interns. they're for everyone who works at the company as well. neil: thank you, hillary, very, very much. meanwhile back at fox we're changing our intern strategy
here to try to compete with this for interns coming here, sean hannity will take you to olive garden, get you all breadsticks you want. we will keep you up on that. keeping up on adele during the report, we called up adele to get confirmation of that. as soon as she picked up the phone what do you think she said? hello. never gets old for me. thesefys heard this joke a million times. getting extremely old for them. they think merely not laughing at it, i will stop doing it. adele one of the most successful singers on the planet, most beautiful voice ever given a male or female, i might point out, wants to hang it up. don't do it, adele. i don't know if this planned tour or stop all tours. listen to me, adele. you don't want to do this. you're 29. what else do you want to do? i will leave it at that.
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ten minutes to go. fine. meanwhile house passing a couple bills on immigration. you won't know that the media was much more focused on president's tweets. i don't know if that is you dying down today, maybe not. frustrates development for nebraska republican congressman don bacon. very good to have you. >> thank you. neil: these are very two very big developments and measures in the direction of sort of cracking down on bad guys and bad things that could happen here, but it got lost in the sauce yesterday. continues today. what do you think of that? >> often sometimes the tweets overrule what we're doing or overshadow what we're doing, but we passed two really good bills yesterday. we reinforced rule of law, saying municipalities can't just not enforce the laws that the constitution gave congress to do. i think that is very important. on a personal level we passed sarah's law, which, a year-and-a-half ago i.c.e.
released an illegal immigrant after he killed someone with a dui. he never came back. he just disappeared. we passed a law yesterday that told i.c.e., you have to hold on to someone when they commit a crime, result of somebody's death. you can't release them so they disappear. i think we made progress. neil: those are two developments. even those who necessarily wouldn't share same enthusiasm would acknowledge they're consequential. you mentioned a little bit of frustration it got punted aside with the obsession with the tweets. do you think the president is wise to tweet? there is a poll 71% of americans don't think it's a good idea, that is he before the latest one? >> i think most americans like policies being put out. we're trying to get small businesses moving again. we're trying to get military strong. tax reform and health care is failing. it gets lost when you put out a bad tweet. i say we focus more on our good
agenda. i believe we should raise the bar how we talk to people. we need more civil communications. i think we have a duty as the president, as well as congress to set the right example. neil: when that came out, you heard about it yesterday, what was your immediate reaction? >> i wish he wouldn't put it that tweet. some folks like it because he fights back. we appreciate that. in this case it is not presidential. we should raise the bar. i don't think just for him. i think all of us have to set the exam approximately because it is very uncivil. there is a lost vitriol out there. i don't think we help by throwing gas on the fire. we help by setting a better standard. neil: very quickly, there is talk by the way right now, congressman, this health care thing, that some of your colleagues, that your colleagues want adjunctket, do a two-step process that wouldn't be immediately deadline contentious, get obama care
repeal. work on replacement. as initially the promise of republicans, proceed to tax cuts. i think he have the gist of it. how do you feel about that. >> i think the house passed a good bill with the ahca. it cuts spending and reduces the deficit but in, we have to fix individual markets. nebraska paid 51% increase in premiums last year. we don't know what we'll pairing more this year. the i just found out they're paying 46% more. farmers and small businesses are begging for relief because they can not afford premiums. right now it is in the senate's hands. i think senate will have to do something because you just can't stare at this disaster and ignore it. they will get to 51 votes eventually. i hope they do it next couple weeks, month of july. we'll see what they do. i'm convinced in the end they will get 51 votes because you can not ignore this disaster. neil: yeah.
we'll see, thank you very, very much. congressman, thank you. >> thank you. neil: keep you updated apparently the story is true, adele does want to get touring. she's had it. fortunately will continue to sing. she will continue to put out beautiful albums because that voice is from heaven. stocks are well off the highs upon getting this news. is there connection? is that accidental? there is a connection. it is not accidental. i'm just saying. the markets, markets are feeling bummed, and so am i. a little more after this. she's nationally recognized for her compassion and care. he spent decades fighting to give families a second chance. but to help others, they first had to protect themselves. i have afib. even for a nurse, it's complicated... and it puts me at higher risk of stroke. that would be devastating. i had to learn all i could to help protect myself.
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♪ ♪ neil: you know, i'm actually getting e-mails from people who are finding my to on to session with adele -- obsession with adele, according to one, weirdly uncomfortable. [laughter] someone else pointed out you are aware, neil, she could be your daughter. scratch that, granddaughter. not granddaughter. daughter maybe. neil, do you know that she doesn't know who you are? well, you're wrong there. she watches me every day. [laughter] all right, the big story -- why is everyone laughing, including the crew? the big story is adele wants to stop touring. she wants to retire from the tours. and dagen mcdowell, who you'll hear from later, says this traces back to problems with her vocal cords. i had heart surgery last year, i could have hung it up.
but, adele, i came back because my public needed me. we all need you. we hope you change your mind. for those of you who are already uncomfortable -- >> just waiting for you to show us your scar. [laughter] neil: oh, well, all right. [laughter] i can't do that on the air. >> neil actually wears a peel-away suit. a rip-away suit. neil: exactly. will[laughter] we won't even go there. as we kick off the seconded hour, we are also wrapping up the month, the quarter and the first half for stocks. and despite all the craziness going on out there and this bombshell with adele, you know what? we're doing okay. and doesn't nicole petallides know it. hey, nicole. >> reporter: we've been on a little bit of a seesaw back and forth. i'm thinking if adele doesn't tour, you have a better chance of getting her right there on your set, neil. i mean, i think that's something for you to think about.
neil: done, done. >> reporter: be a little selfish sometimes, neil. you can see boeing and mcdonald's have been great performers, up 25, 27%. apple really that representation of the best performing group of this year, and that's technology. and you can see apple there, everybody loves it. it's in the s&p, the nasdaq, the dow. it's up 24%. i can't imagine anybody would turn that down. be on the other side, on the downside, we really saw energy and telecom -- energy, don't forget, oil dropped about 15% today. we also see oil right now at $47.83 a barrel. some of the names, chevron and exxon really have weighed on the market. telecom, verizon a big lag or ard. overall though we did see financials somewhere in the middle, up about 6%. and take a look also at some of the other movers. these are the tech names we're talking about. this is for this month, okay? amazon, they have done well year to date.
netflix is down 8.5% this month, amazon 2%, facebook just fractionally lower. i will bring to your attention, neil, i think you might like this idea. in jpmorgan's notes this morning, they talked about technology, and those are the winners. these are all financials doing well on the idea of higher rates. the technology thought is now technology's not just the stock technology anymore. jpmorgan is saying it could be an inflation/deflation type of trade. so today where inflation has eased for the third month in a row, they are higher. in fact, they have such a broad-based, secular driver behind them, that they can overcome the macro softness. so is it just tech or is it a type of trade based on economic numbers? neil: yeah. and all those guys that feed into tech. nicole, thank you very much. by the way, we do have a call out to adele. so it's probably just a matter of time before she gets back. [laughter] in the meantime, what's good for stocks not necessarily good for commodities.
this is one of the worst first halves for commodities, maybe save gold, than what we've seen the better part of a decade. let's get the read on that, bull's eye options alan knuckman on that. a clear disconnect. >> yeah. commodities have been crushed in the last couple years. if you look at them as a basket, the crb has dropped from 320, cut in half to 160. you were just talking about deflation, and a lot of these commodities prices have come lower. now, i look at that as an opportunity. obviously, oil was a big part of that, and in the last few days oil has bounced off its lows, and we've made a positive close each and every day since the lows last tuesday -- two last wednesdays ago. neil: what does that generally portend for stocks with that kind of different direction? do they eventually come closer to meeting or what? >> well, i look at the commodities markets on their own. it all comes back to commodities. you have to understand they're the building blocks of the
economy, that you need to focus on what's happening with, obviously, energy, with metals, with rates, with currencies was they drive -- because they drive all of the markets. looking at how they impact stocks, i think if we can get a commodities rebound, that can very much benefit the stock market. think of all the energy stocks that are still depressed because of oil prices, food stocks, farming stocks, agricultural stocks that will benefit from a little bit of a boost here. the dollar's done here at the lowest level since 2017. typically, that is helpful. so that's gotten the commodities markets off the mat, but we haven't seen a catalyst yet. there's always price shock potential that something could happen to disrupt some of these markets. we know about oil, you know, let's talk about the grains, the coffee market. you know, there are individual cases that could be made if you get some disruption to drive these markets higher. neil: alan, thank you very much, my friend. well, you know, a lot of investors are just waiting to see some sort of a health care deal.
this is the day that we were told republicans would scramble together, try to claw together something resembling an alternative to the one that was largely rejected by at least nine republican senators. now, what progress is being made there, if any, adam shapiro on capitol hill with the latest. >> reporter: hey, neil. don't hold your breath. here's the scorecard, here's where we're going as they head into the july 4th recess. first, there's president trump. president trump trying to push the agenda and getting some form of repeal and then eventually replace, perhaps, enacted. he tweeted this morning, quote: if republican senators are unable to pass what they are working on now, they should immediately repeal and then replace at a later date. this is important because just yesterday rand paul, the senator from kentucky, was actually talking about maybe we should do all of this in stages, break the bill into different parts and vote on them separately. and then, of course, this morning it was senator ben sass who sent out a letter to the president saying, look, let's
deal with what we can do first which is repeal and then kick replace down the road. here's what ben sass said on "mornings with maria." >> a combined repeal and replace plan, i'm writing a letter to the president this morning urging him to call on us to separate them. every republican in the u.s. senate except for one has already voted for repeal in the past. let's do that first. if we can't do them together, let's do as much repeal as we can, and then let's have the president ask us to cancel our august work period. we made promises, we should fulfill them. >> reporter: that's correct, but here's the problem. that one senator in the past who seated no against repeal -- voted no against repeal was susan collins of maine. she would vote no again. then there's rob portman from ohio, they said the approach was already rejected earlier this year by the house and the senate. this law isn't working for many ohio families and small businesses.
portman believes they need to do something now in its totality. bottom line is this proposal from ben sasse may not have much traction. and then finally, there was a letter that was sent to the president and to mitch mcconnell, actually, asking mcconnell to cancel or truncate the august recess so that the senate cannot only get its business done in regards to health care reform, but also a budget resolution which they need to adopt to get on to tax reform. there's been a lot going on behind the scenes, neil. the one last thing, people are upset as you are about adele not touring. i'm canceling my electric kazoo tour, and i know you'll be heartbroken about that. neil: someone's making light about the adele thing. i'll point out we were up 78 points, then the news came that adele -- [laughter] all right. we're up 73 or 4, but i'll tell you, just watch it. when they hear, it's not going to go down well. adam, thank you very, very much. adam shapiro. making his last appearance on
this show. all right. we've got this notion among republicans that they really want to move on this, but same as before, right? they can't agree how to move. and now you have the president, who's impatient and willing to entertain tax cuts first to move that ahead. which is, by the way, a recommendation a lot of people had prior to this whole ballot over this. so let's -- battle over this. so let's go to sabrina be schafer and dagen mcdowell. dagen, what do you think of that? >> i think that the republicans had seven years to get this done. and that's where the impatience comes from, from the american people and the president himself. neil: so a split like this would only add time to it. >> why do you need to split at this point? you've had time, you've had all of these years to work on a replacement. again, these republicans talk about we'll repeal and then worry about the replacement later which is complete insanity. neil: right, right. >> the only reason they voted for repeal i think it was the
last time in 2015, because they knew the president would veto it, and they didn't have to come up with a replacement. there's something working -- neil: and collins was the only no vote at the time of republicans. >> there is something in this senate bill that would reform a giant entitlement. and that is something that actually has to happen to avoid america going bankrupt, quite frankly. and if the republicans can't step up and figure out a way to get this done -- because this is some pretty easy stuff in terms of just slowing the growth of spending in medicaid -- then they are, they're gutless and spineless, quite frankly. neil: and they're not long for their majority. sabrina, one of the things that has come up here even republicans readily agree this isn't ideal, but most would say it's still better than what we've got. as horrendous as you think our program is, we're replacing something that's much worse. will that really carry much weight? >> well, neil, you know my background is sort of political behavior and how do we convince the public of some of these big changes.
something i keep coming back to is this idea of loss aversion. people do not like to have things taken away from them, even if it was wildly unpopular to begin with. i think a better approach would be to start replacing the bill -- neil: you'll have a lot of things taken away under that genre. >> well, let's start expanding some free market approaches, give people more ownership and control -- neil: but they're still getting something that they have of taken away. >> ultimately, yes. but hopefully, by that point people will like something that they have, and i think that could be a better approach. >> there are elements that some republican senators want in this bill, to that point, say the health savings accounts where you're really hamstrung about how you can spend the money. you have to have a high deductible plan. there's many senators who want you to be able to pay your premiums with that money. that is more ownership, and that would give people greater control over their own health insurance. that's one option -- neil: but isn't it endemic in something which you take away
the requirement to purchase health insurance that fewer people are going to purchase health insurance? >> yeah. duh, right? neil: right? >> right. neil: why are we surprised that the numbers would dramatically change? >> not necessarily. i think we do have to assume that people want to, ultimately, have health coverage. they're going to realize if it's prohibitively expensive for them -- neil: i think it could be cheaper than anyone be's business. >> it absolutely could. just like tvs or anything else we buy. >> to your point, that's one of the reasons why the cbo numbers might be wildly off -- neil: is that what the delay is about, by the way? they keep bouncing this off, because i think it comes down to how many you're going to cover, how many will still be on the roll in ten years. >> some of it's that, and the cbo came out with more extensive numbers yesterday that medicaid will get cut by 35% over a 20-year period. neil: right. >> and just these headlines, again, these republican senators have no gumption. neil: but how has it morphed into something worse where now
they're getting the blame for how bad affordable care act is now, the one they didn't vote for? >> because they're in charge, and they're not doing anything about it. neil: i see. >> so to that point, some of these insurers are saying as they pull out of more states and counties, they're saying it is the fact that these policies were so expensive under obamacare. but now it's we don't know what's going to be the replacement. so they are attributing at least in part that decision making to the -- neil: oh, i see. >> -- delay of action by the republicans. neil: sabrina, here's where i get nervous. when i hear insurance companies are happy, like anthem's happy with this initial effort, i'm not too happy because, you know, we've all had run-ins with insurance companies, so it's not a good marketing tool to say, hey, anthem's delighted, you know? >> right. and i think the marketing and messaging piece is a huge part of this. for the last six, seven years, republicans have been investigating how can you message against obamacare x there has been -- and i'm part of that conservative movement,
and i can say this, there's been almost no testing of how do we talk to people about what a free market system really looks like? because now what we're seeing -- neil: have we ever reversed a big government entitlement? >> no. >> ronald reagan did tweak social security around the edges, but in terms of -- >> we didn't pull it back. it's still there. >> but medicaid has grown so far beyond under obamacare what it was intended to do, and that was cover the disabled and the very poor and poor women in particular. now it has grown -- the enrollment of medicaid has grown by almost 30% under obamacare. at 75 million people it is the largest single insurer in the world. it's bigger tan the national health service -- than the national health service in britain and even bigger than medicare. >> that's the ultimate problem. >> as it's blowing up in our face, 65% of annual spending is mandatory on social security, medicaid and medicare. we can't afford this x. if we can't fix it now, this nation will go broke.
neil: you mentioned britain, i'm thinking of adele. you heard the news, right? >> yes, i did. >> good-bye. she had vocal cord or surgery a little more than five years ago. neil: she's still going to sing, right? just not on tour. >> the touring is very hard on her throat. >> dinner party. neil: i picked up the phone, guess what she said? >> hello. [laughter] ♪ hello. neil: oh, man. you know, dagen is saying -- and i stayed later for this. >> no, i'm going to be on your show at four -- neil: oh. [laughter] you should see what i have. all my adele -- >> your bobbleheads. neil: the candles gather around. >> i dare you. [laughter] neil: it's friday. we have a lot more coming up right after this. [ indistinct chatter ]
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>> you spend your time in the morning dealing with attacking human beings that happen to be americans and happen to be the media. well, let me tell you something, mr. president. i've gone through as a member of the judiciary committee impeachments. but we can't wait that long. it is time for you to resign. enough is enough.
neil: and, apparently, that thing going viral right now. texas democratic congresswoman representative sheila jackson lee with us right now. you are calling, congresswoman -- very good to have you -- you are calling for something from the 25th amendment more to the point, right? could you explain that? >> well, not exactly, but for the american people, first of all, neil, happy fourth of july. what a wonderful celebration for the american people, which was the birth of our freedom and the emphasis on our democracy and our ideals. i am recognizing or have recognized that a series of incidences have really created an non-sustainable atmosphere here in washington and in america to get the job done for the american people, to pass health care, to deal with issues of war and peace -- neil: but are you basing that on a series of tweets, congresswoman? >> i'm basing that on a series of actions. so let me just explain.
the 25th amendment is utilized when a president is perceived to be incompetent or unable to do his or her job. we were discussing that yesterday in a constitutional hearing,ing and the statute requires or has a body to be created which has not been created yet. but let me just say as i was walking here to speak to you in statutory hall, i looked at some of the words on the walls. samuel adams says freedom of thought makes a happy country. franklin delano roosevelt said hatred and injustice is an attack on our civilization. our president has refused to acknowledge the interference of russia in our elections. we had, as an nsa director, someone who had been advised or who had been someone who had tried to diminish the sanctions that were ended against russia because of the russian election intrusion and the acting deputy attorney general told the white house -- and that individual was
not fired for a period of time. neil: still investigating all of that. it seems like you come to the conclusion that he's guilty as sin. the 25th amendment, i just want to be clear, is targeted if the chief executive is deemed to be inwhats fitted or mentally -- >> i i did not offer to use that. i think that would be the question of the american people and members of congress, because it is either the vice president or members of congress that will raise that issue. neil: but the tweet is what got you going on to it, right? the only reason i mention it, congresswoman, is lbj was pretty coarse in his language and approach to those who didn't agree with him, and you can just imagine what that would have been like if he had twitter. so i'm wondering if -- >> completely, no. neil, completely, completely apples and oranges. neil: how is that? >> completely apples and oranges. this president, as i said, has refused to acknowledge the russian collusion and the idea of the russian involvement in the election.
yes, this is being investigated. this individual has fired the director of the fbi and indicated -- neil: but you were talking about the tweets first, ma'am, right? the tweets are what got you going -- >> and indicated, and indicated that he did so because he wanted to stop the russian investigation. over the series of his career here as president, his tenure, he has done a number of things -- neil: all right. >> a number of tweets -- neil: i just want to be clear, it's not based on just one thing, but a pile-on -- >> a series of things. he is incompatible with the office and the leadership of this country. and, yes, the idea that his continuous assault on women only compounds the fact that i would ask him if a job that he does not seemingly like, he needs to resign. and i stand by that, because he is inappropriate for the office. you can't even get answers from his cabinet officers about housing, about state department issues because they're not staffed. they're not staffed because the
white house can't seem to agree on appointments. you have to be able to run this country on behalf of the american people as samuel adams said. freedom of thought a makes a happy country. the media -- neil: coarse language -- >> [inaudible] >> the media has the right -- neil: congresswoman i've said on this air and elsewhere, i think his tweets when he gets particularly off-subject, i think they're bad news. >> well, he's ill-suited, neil. if you think that, he's constantly -- [inaudible conversations] neil: but congresswoman, that p doesn't mean you're out as president. let the american people decide that -- >> the american people have decided. his polling numbers are down under 40%. he's 36% or 35%. i think they've already spoken. neil: i can remember when ronald reagan polled in the 30s, congresswoman -- >> but he was a commander in chief, and he was attempting to run the government whether you agree or disagree -- [inaudible conversations] >> i am going by his behavior -- neil: you don't like it.
you don't like it, right, congresswoman? >> i'm not standing for myself, i stand for individuals who have been offended every day by his actions. neil: based on things you don't like, based on the direction he's taking this country -- >> absolutely. no i'm looking forward to working with the president of the united states. neil: no, no, congresswoman -- [inaudible conversations] >> -- his behavior. in the middle of trying to call it immigration day yesterday, republicans had to address the question -- neil: i understand that, congresswoman. and now you and i agree. >> yeah -- neil: but you say you're not going to vote on anything until he's out of there. did i understand that correctly? >> well, i am very, very concerned about his leadership of anything that we propose in the united states congress including the mean health care bill that he -- neil: so you're not going to vote, you're not going to do your job because you don't think he's doing his? >> oh, i'm going to do my job. i'm going to vote no. i don't believe this is an appropriate -- neil: but you'll still vote? i read this to believe that you were not going to even do that. >> oh, no. absolutely not. neil: all right.
>> i would never not vote. please, make it very clear, i represent my con stitch -- constituents. i know the health care bill needs a no voted and the sanctuary cities bill and the reason because of all the power that's been given to the executive. neil: are you okay, and i don't want to get too bogged down with the 25th amendment, but one of the things it includes is the vice president of the united states going along. agreeing that he, too, believes the president is incapacitated to do his job and a majority of the cabinet. now, what would you think a vice president pence in this scenario becoming president pence? >> well, first of all, let me say that you raised the 25th amendment. i happen to know what it is because i'm a lawyer, and i'm on the judiciary committee. what i said on the floor and i maintain, i maintain that the president resign. and i think it is because he is ill-suited and, apparently, maybe unhappy in the position. and it's very difficult -- neil: so you were not among, i just want to be clear then, you were not among these 21 house democrats including the ranking member of the house judiciary
committee to get cracking on a 25th amendment invocation? >> i want to be clear of what i said. i certainly think the 25th amendment is in play. to answer your question about vice president pence, that is the normal course of government which is if the president resigns or is impeached or is incapacitated, the vice president of the united states, that is the orderly course of government, and then there is another transition as well for, if the vice president becomes incapacitated. neil: right. >> i would not in any way override that -- neil: you're not for that now, you're not getting into this whole 25th amendment thing -- >> i didn't say i wasn't getting into it -- neil: oh, man. you're confusing me. >> that's voluntary. i'm asking the president to resign. neil: okay. do you think it's a bit premature? don't you have to wait for something evidencing a high crime and misdemeanor before we can have this discussion? >> no, neil, impeachment is a separate legal action that falls you should the constitution -- neil: understood.
>> and i've been holding hearings with john dean and professor tiefer and -- neil: let's say we get a democratic president down the road, and they don't like his or her tone or misdemeanor or if they're tweeting or saying things that are deemed impolitic and they have the same push to get out of there? i mean, that's -- >> neil, believe me, are you trying to suggest that democratic presidents haven't had the same pride? they have. but i think this president is extraordinary. neil: no, this one, you've never done this with a prior president -- >> first of all, no. first of all, the president spoke about war in syria and most of his cabinet members, military didn't know anything about it and the qatar situation. his secretary of state was saying something completely different from what he was saying -- neil: so you see a lot of smoke, you see a lot of smoke, but you want to fire them. >> no, i want him to resign, and i hope he does the right thing --
neil: what if he doesn't? what if he says i heard barbara jordan, and i'm not going to do that? >> let me say this, then we will continue to proceed as mr. grassley is doing in the senate, have an investigation on the obstruction of justice. i want the house judiciary committee to open up an investigation on the obstruction of justice. the special counsel is proceeding. we're a democracy and we follow the law. but if we understands this is a position that he's ill-suited for on behalf of the american people, i think he should resign, as i said. franklin delano roosevelt said any actions of hatred or injustice and other matters make for an attack on our civilization -- neil: well, you know, that 25th amendment partly addressed -- [inaudible] [inaudible conversations] that he was incapacitated to do his job, right? [inaudible conversations] you mentioned roosevelt. the 25th amendment itself came into being to address presidents who were deemed incapacitated on the job. >> i did not, as i indicated, as i indicated, i said for him to resign. the 25th amendment will play out in itself and be determined. but i'm saying --
neil: but you're not part of that 25th amendment controlled, you're not -- crowd, you're not -- >> neil, let me say this, everything in its place. neil: but you're not one of them, because i thought you were. you're saying you're not. >> my first act was the resignation, and other matters will kohl -- will follow appropriately. i didn't say i was or was not. if that's part of the law and the determination comes about legally, then we'll go that way. if there is a proceeding for impeachment, we go that route. but i ask the president of the united states what he feels about his own -- neil: all right. sheila jackson-lee -- >> -- whether or not he thinks he should resign. thank you very much. happy fourth of july. neil: the beautiful state of texas. the fallout from that after this. introducing new parodontax.
resign. not only over these tweets, but a succession of behavioral actions that at least she and some of them deem inappropriate. but it can tell you a lot about where this stuff is going, whether this is the 25th amendment thing where you find that the president is deemed incapable of doing a job, incapacitated is the word, physically or mentally. you know where that goes. that law has been in effect for the better part of half a century, never been utilized, or that amendment, that constitutional feature. let's go to rich. your behavior itself, your demeanor, your tone is enough to say good-bye. >> well, look, neil, like you i'm sometimes profoundly saddened that president trump can't pivot and act more presidential -- neil: absolutely. >> you did a great segment on that two or three weeks ago. that said, that's a long way from high crimes and misdemeanor.
it does show, though, that the republicans really need to get the job done so that the american people reelect a republican congress. because if we do get a democratic congress after the 2018 elections, trump will be impeached, there's no question about that. on a legitimate pretext or an illegitimate pretext -- neil: you know, you're right about that. it doesn't matter. but it does sort of say where we stand right now, that if you're looking for the parties to sort of work together on anything -- and this is a separate brush fire, albeit one with three dozen, you know, supporters. so i don't think it's going anywhere for you. but i do think the president doesn't help himself when he keeps fanning those proverbial flames. so maybe the better part of valor is i don't mind him tweeting, but just tweet on topic, tweet on subject. >> yeah. he has a great bully pulpit, and what he should be tweeting on is economic growth and national security. those two, those two, those two. look, we are coming off of eight
years of sub-2% growth in the obama administration that we've left $3 trillion of economic activity unformed versus had we grown at our normal 3%. if we can just get back to 3% or above -- and i think we we can h a combination of regulatory reform and tax reform, that is going to create more jobs and it's going to keep this market rally going. that's what trump needs to do. and then he needs to figure out a way, you know, the appropriate way to deal with north korea, china and other issues on global stage. neil: you know, the one thing that's been helping him, rich, is this notion that the markets are my friend. the market wealth has grown measurably the first half of this year, say what you will about the volatility of late. we've got, what, about $3.5-4 trillion in added market wealth, and the market is sort of rooting for his agenda. do you buy that? >> yeah, i do.
but a lot of that good news of what the market is hoping this administration will accomplish is already baked in the cake, so i'm a little bit worried -- [inaudible conversations] neil: what if it's delayed or denied? >> yeah. we get a high dow assumes that six months from now we're going to have tax reform. so if we don't get tax reform, you know, the market could cough up 10 or 15% pretty easily. neil: hmm. is it your sense right now that the back and forth over health care will ultimately result in republicans junking it? maybe get a repeal vote, then come up with their own alternative later on, but for now focus on tax cuts? the president seemed to intimate, as you know, rich, that he kind of likes that. what do you make of it? >> well, i think it was a mistake in the beginning to go for health care. they should have gone for tax reform. i think they let paul ryan, because paul ryan is a tax wonk -- neil: right. >> -- say there can be no tax reform without health care reform first. i think that was -- he may be right, but that was a political mistake. so i can understand where trump
is going. you've got to have a couple wins on the table to keep this confidence and optimism which is out there going by the time the 2018 elections roll around. or as we have seen, if they lose control of congress, trump will be impreached, and then the whole country's going -- impeached and then the whole country's going to go down that rat hole. neil: rich, thank you for taking the time, "forbes" publisher, overall brainiac. great historical perspective. in the meantime, talking about something historic -- i'm not talking about adele retiring -- i'm talking about illinois and a budget deadline that could have it become a huge bankruptcy case. after this from the land of lincoln.ve ♪ yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease,
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welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn. ♪ ♪ neil: all right, the land of lincoln is hurting. i'm telling you, illinois is facing a budget crisis on the verge of outright bankruptcy, could that with be? jeff flock live in chicago with
the very latest on this ongoing fiscal soap opera. >> reporter: constitutionally can't be bankruptcy, but pretty much that's what it is already. here we've got breaking news, neil, i'm at the state of illinois building in chicago packed with state workers who are wondering if they're going to get paid. a budget has been passed in the house by a measure, a margin of 90-25. so it had both republican and democrat votes. that's good news. but this budget, it's a $36 billion with $2 billion in cuts, which is good, but it presupposes a $5 billion tax increase. that's what the democrats have been pushing. the republicans say they will only go for that and the governor will only go for that if they get the following, which is a property tax freeze in illinois -- this has the second highest property taxes in the nation -- as well as reform to worker's compensation to make it more business-friendly and pension reform. huge pension deficit in chicago. they won't likely get that done
by the deadline tonight, is what we're being told, neil. but they say give us until tomorrow. unfortunately, things start to happen right now, which is road projects begin to shut down across the state, because they don't have any money beyond today. schools, no funds. that means they can't open either unless they do an emergency appropriation. higher education like colleges and universities could begin to lose accreditation because of lack of a budget. the lottery, powerball and megamillions, those multi-state lotteries, illinois cannot participate in them anymore because they don't have the money. and lastly, if they don't have a budget by tonight, the bond rating agencies could downgrade illinois debt. but this passage in the house essentially sends a message to the rating agencies, don't downgrade us yet. we're working into tomorrow if need be, and so maybe they get some form of help somehow. it's a mess, but, you know, maybe progress. neil: maybe, maybe.
looks like they've got the p beginning of something, we'll see. jeff flock in chicago. we'll have ben stein weighing in on this and the scramble among republicans to avoid the kind of stuff that sheila jackson lee wants to see, and that is donald trump out of office. like now. after this. ♪ we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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♪ ♪ neil: congresswoman, i've said on this air and elsewhere, i think his tweets when he gets particularly off subject and punches down can, i think they're bad news -- >> well, he's ill-suited, neil. if you think that, he's constantly -- neil: but congresswoman, that doesn't mean i say, all right, you're out as president. let the american people decide that -- >> his polling numbers are down under 40%. he's 36% or -- neil: i can remember when ronald reagan polled in the 30s, congresswoman. >> but ronald reagan was a commander in chief, and he was attempting to run the government when you agreed or disagreed. [inaudible conversations] >> no, i'm going, i am going by his behavior and the fact -- neil: you don't like him. all right. that went well. but we saved time talking over one another. [laughter] welcome, everyone. ivan got my -- i've got my buddy, ben stein, a former adviser to president nixon, just
an all-around genius, phenomenal writer. [laughter] let me get your take, ben, on now this new move on the part of a couple of dozen democrats. now, she wasn't clear whether she's among them to invoke the 25th amendment. say the president's incapacitated and get him out of there. what do you think of that? [laughter] >> why don't they say that mika by zinn sky is incapacitated or joe scar borough? these two people day after day dish out the most nasty, condescending, absolutely contemptuous remarks to president trump. of it's not surprising when he strikes back. i don't like it. i wish he didn't do it. i'm with you, i think it's off message, i think it's undignified, it's beneath the office of the president. i don't blame him for doing it though. he's a human being. at the end of the day, neil, we're all human beings, even big, powerful people who are in the white house are human beings. and the idea of saying that
because he used imtemp rate language that makes him insane, if everybody that used that language, there'd be nobody left to run the country. everybody would be in mental hospitals. neil: all right. i hope it's in that spirit that you read my next tweet i just sent out about you. [laughter] let me get a sense where this is going. my argument on stuff x i think you kind of touched on it is, absolutely, they've said some awful things about him, and no one ever talks about that. this' -- that's fine, so i readily agree. but i do think every minute it's discussed is a minute less devoted on the health care rework, devoted to tax cuts, some of these things you like, some you don't like but no one is talking about them right now, and that worryies -- worries me. >> that's who he is. that's why he got elected -- neil: you're right. >> -- because he's a human being who's got big, big, stone
cajones who fights back. and i agree, i don't like -- neil: do you think it's hurt or his agenda? regardless of who he has the right to do it or not, but that -- >> i don't think it affects his agenda one bit. i don't think it affects his agenda one bit. look, i watched c-span last night, i watched the congressmen talking, none of them were talking about this. they're all talking about serious subjects. it doesn't derail -- neil: or watching c -- you were watching c-span last night? >> yeah, i was. is that okay? neil: because fbn had a lot of good shows on. i find it curious. >> that was a mistake on my part. i'll never do it again. i will never do it -- neil: i'm sending out a really nasty tweet -- [laughter] >> i'll never do it again. neil: ben stein watches c-span. [laughter] all right, so -- [laughter] >> ms. jackson lee -- sorry, go ahead. you're the boss. neil: finish that thought. >> ms. jackson lee has the right to quote any polling numbers she wants. the only polling numbers that
count are the ones on election day, and by those he won handily. so people like what he's doing, and the fact that he's intemperate occasionally makes him, in a way, more charming. fdr said some intemperate things about people in the world. my father was friends with and new harry trueman, i was friends with -- harry truman, i was friends with richard nixon, he got a heck of a lot accomplished. it does not mean he's insane -- neil: fair enough. you're a great historian, now this 25th amendment, i mean, it was, it started i think in '67 to deal with the issue of -- a few years after john kennedy's assassination about presidents who are incapacitated or worse or, you know, they fall into a stroke situation where like woodrow wilson or franklin roosevelt -- i don't remember the origins of it. >> roosevelt was never, he was never incapacitated until he died.
fdr, he was perfectly competent million the day he died. neil: all right. then i stand corrected. worthy of another nasty tweet. [laughter] but do i -- [laughter] do i look at that as something that they could do? doesn't it require a majority of the cabinet, the vice president to go along? >> i don't know what the rules of it are, but there's no chance of it happening whatsoever, and ms. jackson lee is just blowing smoke somewhere if she's talking about this. she has her own constituency to please, and they want to hear her saying incredibly nasty things about president trump -- neil: all right. >> and president trump has his constituency. we all just want to please our constituency. neil: enjoy c-span. very good seeing you again, my friend. [laughter] you're the best and the brightest. [laughter] ben stein. we'll have more after this.
♪ neil: this is the toughest show i had to do since coming back from heart surgery! hearing news adele all of 29 years old wants to retire. i find that hard to believe. you can see the point in the day we got the news led to a downdraft in stocks. a lot of you are hearing i've been making calls to adele's offices, doing my best to reverse this decision, at least go from canceling the concert tour to limit the concert tour keeping the voice going for all
to hear, the most beautiful voice on the planet, sorry, barbra streisand wherever you are. i might be succeeding. a lot of people might feel uncomfortable with this. joe emails, there is something uncomfortably weird and inappropriate for this woman could be your daughter. as if. lauren simonetti. in for risch reagan. >> hello, can you hear me? neil: i can i'm in adele, you can't be leaving. don't let my troubles be yours. >> thank you, my friend. we're hours away from senate republicans to introduce a new health care bill. at this hour it seems a deal is highly unlikely. let's look how the market is reacting to all of this.