tv Lou Dobbs Tonight FOX Business October 28, 2017 10:00am-11:00am EDT
over at fox news. that will do it for us on this special one-hour edition of "wall street week." have a great weekend. i'll see you next time. >> lou: good evening, everybody. we are coming to you from the swamp, washington d.c. and i can tell you we come here rarely and only for the most important of reasons and that is to speak today with president trump. president trump promised voters to drain the swamp, but he's finding the swamp fill would with creatures that are more cunning and elusive and more dangerous than he expected when he was campaigning for the job he how holes. washington d.c., corruption of all kinds is high on the list. the president wants to end the
corruption, but first he has to limit it. and that means the trump's presidency is focused on cutting tax and grow the middle-class and economy itself. the tax reform proposal is at the center of the storm that is sweeping capitol hill and k- street. if the president pull its off. he wille pulled off a brilliant stroke and reverse the two decade long shrinkage of our middle-class. he intends to revive and replenish the fortunes of the middle-class and americans that aspire to it. >> in nine months of office. you have job creation and move and equity markets is extraordinary and record- setting. and all.
indexes at or near record levels. you accomplished so much in nine months and yet as you say, we need tax reform. you are meeting resistance in your own party and from the democrats, how do you move from here? >> i think we will get it. i think the senators are moving and the house is passing the bill along rapidly. that will happen hopefully today. i said fellas, please, no changes, pass it along and we need tax cuts. normally they want to make 15 or 20 point and revoted and everything else. just pass it along and they said i think we are going to do that and we'll see what happens and i think they will do that and so look, in the republican party, in a true sense we have great
unity. and look at the dpem dems bernie sanders was taken advantage of by the dnc, and you look at hillary and bernie, that's big-league stuff. we have great unity. i was with the entire republican senate and other than than two people there was a lot of love in that room. >> lou: a lot of love and a lot to get done. and the tax reform is critical. what you established as a standard for economic growth under the trump presidency, tax reform is critical to driving that growth you talked about that two years before you were elected. >> many years before. >> lou: so where do we go in tirm was capital and corporate
america and how dew incent vise them to get back for investment in job and planning and research and development? >> we are bringing the corporate down to 20 percent from 35 percent. that is a big tax cut. right now our country is one of the highest taxed in the world and we can't have that. we'll have a country that is toward the lower end. i can't say it is it lowest. ireland played the game better than our people played the game, but we'll have a country that is it going to have tax incentives now and we'll bring it back. and i heard you say it, two and half trillion. and you and i have used that number for years. that number is much higher now because is it is built up over the years and i would be
surprised if it were not close to $4 trillion. no one will bring it back now. tax is so a stron nomical we have to bring it back. and probably ends up close to 40 percent. and who will pay that. they leave the money in other places and in other countries and spend it there and create additional wealth there. we are lowering the tax and getting rid of the bureaucrat. it is not only tax. i have friends that want to bring moan back. but the a amount of work to bring it back is going away. >> lou: for the middle-class and small business. they have rates that are attractive. and what do you expect the impact to be for working men and
women and those who aspire to be in the middle-class? >> we have done pretty well record- setting in nine months. and you look at the market and how well it is doing. you say why are i doing anything? we are going to have so many jobs created by what we are doing. and we'll have countries that are not leading our country anymore. you look at mexico. and see how many car companies built massive factories in mexico. we want to build in michigan and howe and other places. and they leave and fire anybody. and that will not be happening anymore. sxm and they will be penalized. you are the first president who talks about the outsourcing of millions of jobs that have begun
under your administration to come back for the country. the idea that made in america and hire in america. how likely is it that that is it realized with a business community that has fought those on the wrong side of those issues for a long time. >> it is surprising to me. nafta is one of the worst trade deal and tpp which i terminated before it got finished. that would be a great disaster of all times in term was trade and a lot of people understand that and a lot of people don't. i was honored to have terminated that. and we'll do bilateral deals with all of those countries. if they don't treat us properly we'll terminate. >> lou: how likely there will be
a resolution on nafta. >> i would say this. in order to have a resolution, right now mexico and canada have such a great deal, it is so good that it is hard for them to be used to the fact it is not that way anymore. and mexico has an election coming up and they have a number of people who are pro mexico and wearing green hats that say make mexico great again. and it is it harld. i tell my people. right now, it is going to be hard and in my opinion in order to make a fair deal with nafta, you have to terminate and then make a deal. to make a great deal. we are tough and fair, but we have to get back a lot. what happened to the country with nafta is unbelievable.
the factories moved out of the michigan recollects -- and pennsylvania and ohio is high. and the chances are good. but my people will have to get tougher. and i told them that. >> lou: looking at an agreement, costs the united states a trillion over the course of the past 23 years since its inception. >> we have a trade deficit with mexico. mexico is wonderful. but we have a trade deficit of 71 billion a year. this is mexico. we are not talking about china which is much worse. we have a trade deficit of mexico of 71 billion. people can't believe it. we have trade deficits with almost everybody. and we are changing that. >> lou: when you focused on
free-trade. people thought you were talking about isolationist and protectionist and then they look at the number and amongst the trading partners. this country. take what youment. we don't have to have a mature intelligent relationship or balanced trade. every other major partner does precisely that. >> the wto, world trade organization, was set up for the benefit for everybody but us. they have taken advantage of this country like you wouldn't believe. and i said to my people. we lose all. lawsuits in the wto, we have fewer judges than other countries. it is set up so you can't pin. and there is not majorities. it was set up for the benefit of taking advantage. united states.
nac nafta, and i tell good people. they hear i am tough. they say don't touch it. they say don't touch it. >> and supposing i make it better. oh, don't touch it. and why would they not want me to make it better? assuming you leave it the way it is, we may not. but they don't want you to touch it even if you tell them you will make it better. you say to yourself what is going on? they must be on the other side of the deal, too. they were. they have couple ofs and factories in mention co. i am not interested in them, i am interested here. >> lou: here, america first. how does president trump feel about the bombshell revelations that the democrat national committee and the democrat
nominee campaign funded the smear campaign against presidential candidate donald trump, the man who went on to win the presidency? >> hillary clinton denied this. she knew nothing and all. sudden, what i was amazed, it was 6 million and it was "fake news". it is disgraceful, disgraceful. >> lou: we'll be right back with a man who almost single handedly is changing the direction of the count reap and changing it for the better. we continue live from washington d.c. stay with us. we all depend on trucks.
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>> lou: we are coming to you tonight as you can well see here in washington d.c. where the president and i sat down in the cabinet room of the white house to hear his thoughts about tax reform and an economy that he has spurred to better than three percent growth over the six months. and markets that added more than 5 trillion in market caps since
he was elected president. and the president today showed no sign of slowing down or overmatched in any way by any politician or opposing institution that would deny him, his vision for our country's future. now the president's thoughts on hillary clinton, democratally funded doszier and up funded and paid for by the democrat national committee and hillary clinton campaign. you have to be gratified by what you have been able to do with the congress and senate. going forward there is a wall that has fallen between the american public, the democratic national committee and hillary clinton's campaign. they funded the trump doszier that they ballyhooed for
sometime. we now know who paid for it. dnc and hillary clinton and one unnamed republican. >> i wonder who that might be. i think i know. but they will find out eventually. don't forget hillary clinton denied this and knew nothing and all of the something. it is $6 million that they paid and it is it discredited and a phony and i call it "fake news". it is disgraceful. >> lou: her word she used is doszier debunked. >> she said opposition research is very standard. so it is very interesting. she denied it and her own people denied it and they are trying to scoot around and figure out what to say. they spent 6 million on
something like that. and i think it is it a disgrace. >> lou: contempor rannously the house intelligence committee are turning to the democratic party and talking about, and beginning the investigation much something call would collusion with the russians? >> that's the real collusion. there was none on my side. you knew it because you were saying it when it was not envogue. i always said. i didn't realize it was to this extent. it was an extent for losing the election put out by the democrat and you hear the money they spent and see all of the things about podefta and the relationships they had with russia and you know one thing that is interesting, and even the democrats walk out.
and they say there is no collusion. but we'll keep going. a wonderful man came to my office a week ago. and a highly respected man. he said it was unfair from the day you have been president, you have been under this little veil of russia, russia, russia. and with all of this being said. i think it would be great to get along with russia. i don't think there is it. they are a nuclear power. and i think we could have a good relationship and i think the north korea relationship would be easier settled and i congratulated the president of china on his victory. china is helping us and maybe russia is going through the other way. and i think i know what i am talking about. if we had a relationship with russia, that would be a good thing and not a bad thing.
>> lou: relationships, you were criticized for even try to court if you will the president chi of china. and the country's foreign policy establishment said you are wasting your time and it just can't be done. you have maled significant -- made significant progress. >> just spoke to him just a few moments ago. heap's been given powers. >> lou: writen in the constitution. >> he is a good person and with that being said, he represents china and i represent the usa, and there will always be conflict, but we have a good relationship. we have one of the best relationship and some people
might calm him king of china, but he is it a president. and it would be good to have that relationship with russia and other countries, too. >> lou: going to report to america on your conversation with president chi? >> no, i will be going there in two weeks and we are going to/beijing and other places and we'll spend two days there and to japan and south korea and it will be i think hopeful legal historic and positive. we have to solve the north korea. it is a very big problem. this should have been solved long before i came to ofls. but it was given to me and i solve problems. i am happy with the regulation cut and market is going and driving the markets. >> lou: up next, as we continue
our conversation with the president. he talks about taking on the gop establishment, democrats, left wing media and deep state and of course, all of them at the same time just to make it fair. >> i said i am going to fight like hell. i department -- didn't realize it is more so. >> lou: and a big hint much who he will choose to lead the feds. when we come back live tonight on washington d.c. we a a a a a it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better.
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presidency and his thoughts of those who attack him and those who admire him. his thoughts on the hillary clinton and the doszier. we gip with the presidency thoughts about a major decision he will make, who will be the next chef of the federal reserve. you are nearing a decision on who will chair the fed? >> i am. >> lou: any hints? >> i really have it down to two or maybe three people and over the next short period of time i will be announcing it. it will not be a big shock. it is interesting the way it comes out and you have talked about the people. i watch your show. and even if it isativo or device we are using. >> lou: we appreciate it. >> your show is fantastic. i will announce it over a short
period p of time. you have a preference. tell me who your preference is? >> lou: may i constrain myself. ad hoc. >> you can cut on out. and i will only have that. >> i think janet yellin might be worth keeping. >> she is impressive and i like her a lot. i mean, it is something that i am thinking about. and i would think about it. >> lou: i haven't been utterly rejected. >> you like to make your own mark. you understand that. which is maybe one. things she has against her. but she is terrific and we had a great talk and we are doing well together. >> lou: i say that not a fan of
interest rate hikes. and i have to ask you in conclusion and i appreciate your time as does our audience, you came into this job fighting like hell and you are fighting like hell every day. >> more than i thought. i said i would fight like hell. and it is more so than i thought. and that's the way it is it and that's good. >> lou: you are one of the most i would say by the left particularly reviled and even hated men to have hold your post. and you are almost one of the most loved and respected. >> i would say that also. >> lou: in history. how does that feel? where is donald trump today as you are beginning your presidency? >> so one thing that i thought.
i was treated unfairly by the press. but i said the good news, they will start treating me well. but they got much worse. they put on stories on cnn and nbc, and cbs and abc and nbc with the msnbc which is ridiculous. they put on stories that are so false. they have so- called sources that in my opinion don't exist. they say sources have said. they make that up. it is dishonest and the fake. i have come up with good names for people. one of the best names and "fake news" and now they are calling stories put out by facebook fake, but what is more fake than cbs, and abc and nbc and cnn and
you look at these stories, i know when i do well and badly? i know a good story. you have a good story. i will say to my wife. i did great. and then they put it on, well, that's not so good. they are "fake news". and the good thing about social media is that i have so many millions of people. i guess 128 million and you can add up all of the different platforms, at least i can put out stuff i want to do. i would love to not do it at all. but i can at least put out the truth and real world and people agree. if you look at the level of a provenal of general media and the day i started running to now. i am stou proud i can convince
people how fake it is. except for your show and sean and fox has treated me fairly. and i don't mean good. but fair. and i don't want to be treated good but fairly. >> lou: if i may say. you ran for president and we appreciate everything you are doing. thank you so much. >> we are getting it done. thank you very much>> lou: mr. president, thank you. up next, more provocations by north korea and president trump ready to head to asia on a important trip. >> we have to solve the north korea problem. it should have been solve would before i came to office when it would be easier to solve. >> former cian analyst said
china could hold the key to containing kim jong-un. he joins us next in washington. we'll see what he thinks about the cian and fbi. we'll be right back. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i'm gone ♪ can i kick it? ♪ to all the people who can quest like a tribe does... ♪
>> lou: the trump administration turning up the heat on north korea and the treasury department placing new sanctions against the north korea government for human rights abuse. and the uss nemits is in the western pacific. three carry years on the station and first time that the navy had three aircraft carriers in the region. joining me chief of staff and senior john bolton. it is great to have you here. welcome to the swamp, lou. >> lou: thank you. it is merely a visit. let me turn to one. reasons why it is easy for me to say that. in is the swamp at work. tonight making a liar out of the
president of the united states. and refusing the heads of the cia, and fbi to follow the law and follow the orders of the president of the united states elected by the people of this country. why in hell should the american people put up with the insult and affront and simply the capricious arrogants of agencies that whose agent and service members deserve a hell of a lot better? >> i can't conceive of legitimate reasons not are not release the files. i trust mike pompa yo. if there is a good reason it better be made tomorrow. >> lou: you are defending a man
you like. >> no, i know him well. i can't imagine he would recommend this if not for a good reason. >> lou: it is called a constitution. and it is call would a government that is a constitutional republic and people in this town and i believe broadly this is it an issue here. i think they forgot who they work for the american people and our right to know is it denied even when the president orders the government to deliver. that is a big, dam deal, fred. and in this town, it means apparently nothing. >> there better be a dam good reason. if he has such a reason, he better be on the hill tomorrow to explain what it is. >> i don't know if the hill is enough frankly. they better to what the hell the president said. there is a time to salute and i
would guess this is that time, just as the men and women on the carriers in the western pacific will be saluting. how can you and any american to trust this government with the conduct of those two agencies today? >> i am very concerned about the way the cia behaviored especially in the campaign. there is a lot of swamp draining to go on. and i am concerned about that. i spoke to mr. pompayio. >> lou: does he give a dam? >> i think he does. maybe they should fire the first three floors of the building. >> lou: how many floors are in the building? >> seven. >> lou: that would be a good place to start. it appears the president on north korea is preparing the
project of military intervention on north korea. your read on how likely is military intervention. >> the president is following up tough words by response by putting our b-52 on 24 hour notice and the air carrier yes x. and he is making testing hydrogen bomb system unacceptable and passing missiles over yap jap is not respect. >>'ve>> lou: you think if he gives an order it would be followed. >> yes, i do. >> lou: why is the intelligence agency at war with him. we don't have time. we have b-52 on notice and
intelligence agencies that said we'll see you in six months to the president of the united states. >> i agree with you. there is a real conflict. i think the military will follow the orders. president. and vast majority. intelligence they follow the president. but there is a small minority not acting in the nation's intchlt>> lou: two of them run important agencies. the head of the fbi and cia. up next, the border wall prototypes unofficially unveiled. we'll have that. >> we'll look at the wall and we'll get it built and it is going to be quite the wall and very effective. respiratory -- loupe lou byron york joins me live from washington d.c. and we'll be back after the
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the southern border. eight beard wall prototypes were unveiled 30 by 30 feet undergoing series of test. and joining me tonight cor71edant with the washington examiner. great to center you here. >> aren't they beautiful. >> they look darn effect itch. >> when you see the things along the border rickety pieces of metal and fence placed here and there and walk through them. i mean, a large part of the boarder is it like that. and stou if the president is able to get the money to do it. >> lou: paul ryan and mitch
mcconnell. >> but the president has the legal authority to do this. congress passed a law called the secure fence act in 2006 and it is there. >> lou: i remember duncan talking to you in 2006. and testifying mean they are going to build 700 miles much border and they had an guarantee that would happen. >> the problem is by partisan conquences in enforcing immigration upon law. >> lou: in this town? to never do what you say and do as little as possible. and if you have to cheat, lie or steal. stand by, one of those threap will happen. >> they passed the secure fence act. and next year they changed it to may and it didn't get done.
>> lou: at least they paid attention to the language. and in the case of the the cia leadership and the fbi, no integraty of any kind? >> i think what we are seeing here is similar to the iran nuclear deal. the president campaigned on this deal. >> the president said it will happen. >> i will release the kennedy files, right. and now he will release some now. >> lou: i have to ask you this? why should anyone have faith in the cian or fbi who are ignoring the will of the people as expressed by the votes and passage of law by the congress and senate and president of the united states x. and why is there and relationship not to be
alarmed at the state of what is an intelligence community at war with the duly after the accident lengthed of the united states. >> the people should be alarmed. congress passed a law and said on this day these would be released and it is it hard to believe they can't be. >> lou: we have a few hours. great to see you. >> thank you, and good to be here. >> lou: president trump issuing a warning to our nafta trade partners. >> mexico and canada have such a grate teal. it is it hard for them to get used to the fact that it can't be that way. loupe lou the we are live from our nation's capital. six in the morning.
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trip to asia and how important that is to agenda. and creating balanced trade and important partnerships. >> it is important on both scores. a lot of people in asia have the mistaken impression that when we pulled out of tpp, we pull would out of the region nothing it further than the truth. and this trip says so eloquently. >> lou: the china president, firmly, esconced in china leadership and he's the man. will he be helpful and is his new stronger position and role, is it helpful or a negative for the prospects for a better relationship? >> my guess it is it a positive given that he has a good
personal relationship with president trump. that is going to be the determining factor. there are already good signs that he's more helpful with north korea. they voted for the last two sanctions. and as far as we can tell. they are enforcing them than they were before. those are good signs. >> and you are going to be there i understand for at least the which chinese version of the discussion that the president will be leading and i want to turn if i may to another productive day for the town. a rare day for capital hill. and talking to kevin brady. the passing of theble. >> yes, indeed. >> lou: he's excited and in two weeks looking at the markup of
tax reform. your idea of whether that is in prospect or in trouble. >> i think it is in prospect. and the vote today told you that they didn't put any amendments at all. and took it as it came from the senate even though they were talking about quite a few amendments. and the only reason for doing that is to grease the skids for the tax bill. and most is the deductibility of state and local. >> lou: chairman brady made it clear to me that he and the president have more talking to you. whether it is 401 k or deduction of state and local taxes. chatting to be done. >> i think the president was wise to come with a framework than a fully blown bill.
at the end of the deal, the congress writes the business. and, i think the strategy was right. hugh lou as president of commerce you are doing a great job. we are watching the growth. and you have got an marx mazing job creation and businesses, eager to get things going with tax reform. congratulations. >> it is it the president who should get the congratulations. >> lou: i thought i touched you on that. >> it is it his programs we are trying to implement. >> lou: it is extraordinary. you have to go back 30 years to find an achievement at this level and that is remarkable.
>> and in the most recent quota we are over three percent except for the hurricanes. >> you think you are a member of the trump >> he leads the most famous charge in american history. >> i am standing right on the site of pickett's charge. >> it cost him hundreds of men, but it made him immortal. >> he leaves his descendants with a suitcase full of heirlooms. >> you want to take a look? >> i really would. >> then a fast-talking con man comes to town... >> he dressed well, he was very glib of tongue. >> ...forcing the general's heir into battle over his strange inheritance. >> what was your reaction? >> i was pissed. it began to dawn on me that i had been really truly ripped off. [ woman vocalizing, theme music plays ] [ wind howls ] [ thunder rumbles ] [ bird caws ] [ folk music plays ]