Skip to main content

tv   After the Bell  FOX Business  January 15, 2019 4:00pm-5:00pm EST

4:00 pm
not a lot of competition. trades at a discount to the market. [closing bell rings] liz: mark, we'll put your picks on the facebook page. nasdaq set to close above 7,000 for the first time since december 13th. that will dot it for "the claman countdown." green on the screen. now "after the bell." connell: the crucial brexit deal failed, failed big time in the united states. melissa: big time. connell: big time. that said, the dow soaring during the final minutes of trading, ending the session fairly close to session highs. snapping a two-day losing streak. up 150 points as we settle in. s&p 500 in the green. nasdaq up. i'm connell mcshane. melissa: i'm melissa francis. we have more on the big market movers but here is what is new at this hour. crushing defeat for theresa may. the british parliament rejecting the prime minister's proposed deal on brexit. now the opposition is calling
4:01 pm
for a no vote of confidence in her government. this is happening two months before britain's planned exit from the european union. we're live in london with with e latest. >> shoe back on capitol hill the confirm hearing for william barr is underway. how the attorney general nominee is responding to questions from lawmakers. refusing to come to the table. house lawmakers refusing to discuss the shut down at white house as the shutdown reaches day 25. exclusive interview with kevin hassett, white house council of economic advisors chairman. connell: back to the markets though, that failed brexit vote in the uk and it was a spectacular failure at that. we'll start with that result, which may very well impact stocks by the way across the globe tomorrow. certainly stocks were up today. the thing is all of this is still up in the air. how it ends up is still not entirely clear.
4:02 pm
let's go straight to ashley webster who is live inn london with details as we no them that was some defeat for theresa may, ashley. ashley: it really was, connell. i think humiliating is another word we could use. let's not forget she delayed the vote five weeks ago because she was fearing she would suffer a humiliating defeat. well guess what, she did. that was lost five weeks of negotiating time. there were 202 yes, sir votes for theresa may's plan. 432 no votes. the margin, 230. twice as many voted no than yes. the worst defeat for a government in a parliamentary vote in modern times in the uk history going all the way back to 1924. as a result of that, and as expected the opposition party leader, jeremy corbin of the labour party immediately tabled a vote of no confidence, saying
4:03 pm
this to the house of commons. take a listen. >> no confidence in this government. [cheering] and i'm pleased, i'm pleased that motion will be debated tomorrow. so this house can give its verdict on the sheer incompetence of this government and pass that motion of no confidence in the government. ashley: ah, jeremy or bin really fired up tonight. you know what? i don't think he has the votes to overcome theresa may's government. it is more symbolic. they will debate it tomorrow after the regular prime minister's question times. in houses of commons behind me. but then, of course theresa may has three working days to come up with plan b. she will be back here monday, to present what she has got to the house of commons. the question is, what on earth is she going to do? she could go back to brussels to say, that was embarrassing. you have to give me something better.
4:04 pm
i don't think the eu will budge that much, even though the eu doesn't want disorderly exit which is what we are facing right now. as connell said, so many questions, so few answers. the drama goes on, guys. melissa: ashley. thank you. let's go to gerri willis on the floor of the new york stock exchange. gerri. >> hi, guys, that's right. if you were looking for a big reaction down here on the floor of the new york stock exchange think again. we're up 155 points on the dow. the s&p 500 up 27. that is a 1% move for the s&p 500 but i have to tell you, ho-hum, that is what the markets down here are saying. why? this is exactly what they expected. they expected a big loss for theresa may. the big question comes tomorrow on this no confidence vote. what happens then? i think a better thing to look at, rather than stocks, are currencies. the pound lower. euro lower. the dollar higher, and this is going to impact trade, trading going forward. this is going to impact certainly the uk, which relies
4:05 pm
on the usa to sell most of its goods. it will be a very important thing indeed to secure currencies right here. look at other big news of the day, jpmorgan. wow. big disappointment on earnings. yes the stock is higher. it is doing very well indeed. strange that wells fargo could have better earnings quarter, trade down, jpm could have a worst trading quarter and trade up. strange things going on in the market today. i want to talk about energy stocks for a second. take a look at these names. oil prices, moving higher today. and why? trump is threatening an embargo on venezuela. that will push prices higher possibly, if it happens. we'll have to wait and see. guys, back to you. connell: gerri. here now more on brexit, nile gardiner, from the heritage foundation, former aid to
4:06 pm
margaret thatcher. surprising to see the pound sterling turn around a bit. what investors are betting on, because your guess is good as the next person. how does this end up after this big-time defeat for theresa may today? >> well certainly an extraordinary day in british politics and the heaviest defeat for the prime minister that has been seen by any prime minister for many, many decades. a real mode of history today. i think tomorrow, we're going to see this no confidence vote being pushed by the labour party defeated because, the labour party doesn't have the votes really to bring down this government. so i think it is largely symbolic. i think the prime minister now has a clear choice going forward. she could choose to resign and then spark a leadership contest within the conservative party, with a new conservative prime minister taking britain into the brexit era, or could seek further renegotiation with the
4:07 pm
european union which downing street already telegraphing. the eu is not interested in any further renegotiation on its brexit deal. or the other alternative for theresa may is push forward with a no-deal brexit. connell: right. >> bearing in mind the brexit date is just 73 days away, march 29th, 2019. that is the best, most realistic way forward for this government. let's see how this moves in the next few days or so. connell: so you think no deal, a no-deal brexit is is the best-case scenario? >> yes. connell: best of the worst choices. why is that as opposed to, say, a second referendum which has come up, at least from the data looked at today, average of the polls in the uk actually has more support now than it did. the numbers that i saw 54-46, in favor of remain if you were to vote again? >> so i think, firstly, the british people already voted on brexit emphatically back in 2016. they voted to leave the european
4:08 pm
union. it is very important i think to respect that vote, to respect the democratic will of the british people. a second referendum i think would be a huge slap in the face of 17.4 million people who voted to leave the eu i think secondly, there is no realistic prospect after second referendum as long as you have a conservative government. theresa may flatly ruled out a second ren dumb. the only chance you see that if the government is brought down tomorrow. if you have a labour government emerge, they may hold a second referendum. it is not absolutely clear it would. if there was a second referendum, it would be extremely close-fought, but i think the most important thing british people already voted to leave the eu that decision is now in legislation. it should be fully enforced. and respected. connell: economic concerns we talked about a lot, no-deal brexit. that is the best of the bunch in terms of these choices.
4:09 pm
nile gardiner, we appreciate it. melissa: columnist for foxnews.com, gary kaltbaum, president of kaltbaum capital management. they are both fox news crittertores. liz, what do you make of this for the impact on the market? >> i think it is remarkable the market is shrugging off all kinds of bad news at the moment. not only the brexit vote. everyone expected this vote to be a defeat for theresa may but the margin of defeat was certainly worse than expected, sorry. but shrugging off the growing sentiment that the shutdown will cost the economy significant growth in the first quarter. shrugging off mixed results at best from jpmorgan. i mean it is kind of interesting, melissa, right? just a couple months ago, everything even good news was trashing the market. so i think what everyone is doing is looking forward. they're looking forward to a neutral fed. the fact that rates probably
4:10 pm
aren't going up in a period when growth is slowing and inflation certainly will be under control, especially as oil prices come down. gasoline prices come down. and also the possibility that you know, the china trade discussions may come to some positive resolution. i think it is quite fascinating. melissa: i mean that last one, gary, what i was going to say. maybe you know, positive news on potential talks with china the idea they are getting together again, that trumps all, no pun intended? >> i think the market turns when jay powell on a friday morning said that he was looking at markets. i just harken back to 2012 he was quoted as saying investors know the fed has the investors back and protect them from serious losses. i think that is what happened here. europe and japan still negative rates, still printing money and now you have the u.s. was going to raise rates four times next
4:11 pm
year. they are not going to raise rates. if markets get hit again they will probably lower rates. as far as brexit, i think on january 15th, 2020 we'll still be talking about it. melissa: seriously. >> i don't think anything is getting done there. i don't think there is a big -- let me put it best. i don't think it is as big of a deal as far as the economy. the uk will deal with the eu. the eu will deal with the uk. everything will be fine and dandy. how it ends up i think we're aways away from that. melissa: gary, very astute. liz, appreciate it. connell: gary is probably right about that. melissa: they will not resolve it. there will be delay. there is no change. everybody is dealing with each other. that is indictment from those politicians. connell: does that sound familiar? melissa: yeah. connell: speaking of politicians , on capitol hill we do have the hearings for president trump's nominee william barr, facing tough questions from lawmakers from day one for his confirmmation
4:12 pm
hearing from the mueller investigation and rule of law. we'll talk to judge napolitano, fox news senior judicial analyst. we'll talk about that next. melissa: democratic leaders declining trump's invitation to meet over border security this afternoon. as the government remains closed for business. what it means for the u.s. economy. kevin hassett white house council of economic advisors economic council chairman will join us for an exclusive interview. he joins us coming up. connell: new worries at the tsa about the impact of the shutdown, what the stalemate could mean for our national security. that's why we designed savings and checking accounts with no fees or minimums. this is banking reimagined. what's in your wallet?
4:13 pm
[indistinct conversation] [friend] i've never seen that before. ♪ ♪ i have... ♪
4:14 pm
4:15 pm
melissa: high-stakes hearing on capitol hill. attorney general nominee william barr grilled today by the senate judiciary committee.
4:16 pm
edward lawrence live on capitol hill with all these details. reporter: from the start, democrats wanted to make sure the attorney general nominee would protect the russia probe. william barr says it is in the best interests of the american people and the president that the special counsel finish his investigation. >> if the president directed you to change those regulations and then fire mueller, or simply directly fired mueller, would you follow richardson's example and resign instead? >> assuming there was no good cause? >> assuming no good cause? >> i would not choirry out that instruction. reporter: barr says he will release as much information as possible not classified from the mueller investigation once it is finished. also democrats questioned about a unsolicited memo barr wrote questioning the expanding role of the possible mueller investigation into obstruction of justice. he also defended the fact, as democrats accused him of sending
4:17 pm
that memo to get the president's attention to get this job. >> there are many more direct ways of me bringing myself to the president's attention than writing an 18-page legal memorandum. how have i criticized russian -- >> you don't have any criticism of the russia probe? >> not in law. i believe the russians interfered or attempted to interfere with the election and i think we have to get to the bottom of it. reporter: barr says it's a top priority to go after any foreign actor who is trying to manipulate our elections. he says he will not be swayed by politics. >> he will not take any guff off of anybody. he certainly not going to tolerate political influence. i thought that was pretty impressive answer. reporter: because republicans have more after majority in the senate, there are 12 members on this panel. republicans, 10 democrats. barr is expected to pass through here with a positive
4:18 pm
recommendation. melissa: edward lawrence, thank you. connell: we're joined by the judge, andrew napolitano, fox news senior judicial analyst, host of "liberty file" on "fox nation." good to see you, judge. >> likewise, connell. connell: what do you think of his answers? >> his gravitas, his savvy, his appealing to both side. as we were talking during the break, becoming buddies with cory booker who tried to trip him up, they ended up agree tock have lunch together, that may be just symbolic, there were no stumbles. if the white house thought they were getting a pat -- patsy they're not. connell: why do you think they were surprised by any answers? >> i think they were. i think white house relied on memorandum he wrote unsolicited year ago which was critical, very, very minor if you will with respect to my friends in the legal profession, nerdy points that he made in that memorandum. it was not a criticism of the existence of the office or the
4:19 pm
scope of the office. it was disagreement with one minor interpretation of a statute, a statute that he said he could interpret differently if i knows the facts that bob mueller does. so i don't think that was a big deal. i think he will sail through to the nomination. connell: even get democratic support maybe? >> yes. you will get a intellectual and professional heavyweight in the office, something the doj sorely needs at this time. connell: i thought was interesting as well, i don't know if you did, he on numerous occasions went back to his age, 68 years of age. >> connell -- connell: didn't say it was. he was asked number of times, what would your breaking point to be if the president asked you to do g, y and z, his basic answer was i don't node this. i'm not climbing career ladder. >> i'm doing right thing. i will not be bully the by him or bullied by congress.
4:20 pm
if you try to bully me, ask me to do unlawful, ground cut out from under me i'm gone. don't usually get that. connell: no. >> in this type of a hearing. for anybody who is looking for the kavanaugh type of hearing, with that amount of animosity and those allegations, that bitterness and those threats, those walkouts, nothing like that. this is the type of hearing it used to be. in the pre-robert bork era where people were civil. connell: even with booker, that kind of thing, you would have thought somebody like cory booker, presumably running for president, kamala harris or amy klobuchar, even though not in her nature to do so, to go at him. they probably wanted to, but speak to the nominee's ability to handle that, his experience. >> bill barr actually agreed with cory booker, that the prisons are overpopulated. there are too many non-violent felons in there. their lives are ruined. they belong on the streets or
4:21 pm
halfway houses on their way to the streets. i don't know cory booker expected him to say that he did, it went over swimmingly. connell: before we let you go, it will take a while for him to work his way through the committee to be voted on, take office, matt whitaker acting attorney general. we found out in the last few minutes he will testify before the house judiciary committee on 8th of february. >> they will have a field day with him. he will be exerting executive privilege. they basically want to know about communications with the president. my view matt whitaker we don't know he has done anything to alter the course of bob mueller's investigation or anything at the doj that will be a political interrogation. connell: okay. >> and matt whitaker may be out of a job by then because bill barr i think will be confirmed pretty soon, very soon. connell: he woo still be asked those questions? >> yes. connell: judge, great to see you. >> thank you. melissa: decision day for theresa may. high drama as the british
4:22 pm
parliament votes no, rejecting the prime minister's brexit plan. we'll take you live to london for an update. a boost to your bill, oh, no. netflix raising prices. what it could mean for the streaming service. that's next. ♪ , so i only pay for what i need. and as a man... uh... or a woman... with very specific needs that i can't tell you about- say cheese. mr. landry? oh no. hi mr. landry! liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
4:23 pm
(sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪
4:24 pm
i needthat's whenvice foi remembered that my ex-ex- ex-boyfriend actually went to law school, so i called him. he didn't call me back! if your ex-ex- ex-boyfriend isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal. that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org.
4:25 pm
melissa: it is going to cost you a little more to catch up on "the crown." the netflix raised biggest increase ever. stock is up 6%. kristina partsinevelos is here with the news. >> you seem excited about the price hike. melissa: i am. >> when it launched 12 years ago, this sounds like it's a big deal. it will affect all new subscribers right away. what you're seeing on the screen what will happen? the standard one, is one most people use. you can share your log-in and provides hd viewing. that is going up $2 to $13. the basic one is only nine
4:26 pm
dollars. that goes up by a buck. it will be $9. 4k premium going up by $2 to $16. netflix doing this. why? to provide original content, the original programing. also pay off the massive amount of debts that netflix accumulated over the past little while because they're constantly pushing out new tv shows and new movies doing quite well. a few won at the golden globes very recently. the stock popped on the news. it actually held the top line you're seeing across the screen right now, $21.70 for the close. what we're seeing across the board for a few analysts i was reading a few notes, credit suisse, rbc and they're stating this is a good thing. if anything we won't see cancellations, if people don't like the price hike, until june. why? because the rollout won't be another three months for existing members. so when you have that, people need to see the bill, they need to realize three months from now, uh-oh, it is more
4:27 pm
expensive. we could possibly see cancellations. that should happen in june. look out. we'll pay close attention to subscriber rate in june. since we're talking about competition, let's talk about, since we're talking about netflix, let's talk about the competition. you've got nbc that has now announced they will be launching their own streaming service. this will be free but ad-sported. fit is not ad-supported it will be $12 a month. look how compared across the board. youtube tv 40 bucks a month. all these are the monthly rates. with nbc though, interesting thing that they are going to have ads every three to five minutes per hour, if you want the free version. netflix, though, reporting earnings on thursday. so content is king. but who will be king? melissa: netflix owns my kids. they watch shows. just feeds them the next one. there are no ads. it has kids channels. i don't know. i get every dollar out of my netflix subscription. >> one buck, two dollars isn't
4:28 pm
much of a big deal. melissa: kristina, thank you. >> thanks,. connell: also today, a new york federal judge ruled that the trump administration cannot include a citizenship question on the 2020 census. the judge says it violates the constitution. the justice department expected to appeal this decision, likely ends up at some point before the supreme court. melissa: all right. day 25 and counting. the partial government shutdown extending for another day as democrats reject president trump's invitation to the white house. we're breaking down the current state of the funding battle. plus, we'll speak to kevin hassett, white house council of economic advisors chairman. our exclusive interview coming up next. how do you gauge the greatness of an suv? is it to carry cargo... or to carry on a legacy? its show of strength... or its sign of intelligence?
4:29 pm
in crossing harsh terrain... or breaking new ground? this is the mercedes-benz suv family. greatness comes in many forms. lease the glc 300 for $479 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands? itso chantix can help you quit "slow turkey." along with support, chantix is proven to help you quit. with chantix you can keep smoking at first and ease into quitting. chantix reduces the urge so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix.
4:30 pm
you may have nicotine withdrawal symptoms. stop chantix and get help right away if you have changes in... behavior or thinking, aggression, hostility, depressed mood, suicidal thoughts or actions, seizures, new or worse heart or blood vessel problems, sleepwalking, or life- threatening allergic and skin reactions. decrease alcohol use. use caution driving or operating machinery. tell your doctor if you've had mental health problems. the most common side effect is nausea. quit smoking "slow turkey." talk to your doctor about chantix. investment opportunities beyfirsthand, like biotech.ne because your investments deserve the full story. t. rowe price invest with confidence.
4:31 pm
4:32 pm
connell: democrat the rejecting an invitation to the white house to discuss border security this afternoon. where do we stand under negotiations what turns out to be longest government shutdown we ever had? reporter: democrats were invited over here to have lunch with president trump. not one democrat showed up. steny hoyer, saying maybe that wasn't the best idea, saying if the president invites you to
4:33 pm
come down here you ought to go down. pub pushes -- republicans were just as perplexed as well. >> how do we find a way to negotiate with democrats? it is unfortunate this was supposed to be a bipartisan lunch but not a single democrat offered to come hire and negotiate how we end this partial shut down. it is disappointing to me. >> come to the table, have a discussion. negotiate issues around border security. negotiate a way to reopen this partial shut down. reporter: meanwhile here on day 25, connell, members of the coast guard miss the their mid-month paycheck. this from admiral carl shults. to the best of my knowledge this marks in the first time in our nation's history servicemembers in a u.s. armed forces were not paid during a lapse in government appropriations. stay the course, stand on the watch, serve with pride. you are not, will not be forgotten. a couple other items before we go, connell. i got off the phone with irs
4:34 pm
official moments ago, that they are, irs will be recalling some 46,000 members of the irs workforce to be handling tax filing season which we are now about to go into head-on. those workers are four loid, about -- furloughed, 60% of the irs will go back on the job. .13% that comes from a white house official today, as the white house revising growth estimates what this shutdown could have on the economy. the white house now believes for every week that the government is shut down, it could have a negative impact of .13% on growth. extrapolate that out potentially of a full quarter, if it gets to that, potentially here, could you be talking about 1.7% against gdp if this lasts for the first three months of this year. connell? connell: almost 30 days in, blake, on and on we go. blake burman from the white house. melissa: here is now kevin hassett white house council of economic advisors chairman.
4:35 pm
let me ask you about that last point. does that sound right, 1.7% for the quarter? >> sure. what happens is when the bureau of economic analysis, when they calculate gdp, they basically have to go estimate how much the government produces. in their estimate how much the government produces based on government workers going to work and getting paid. if government workers don't go to work, they reduce their output calculations accordingly and we made an early estimate right at the beginning of the crisis was a little bit lower than the estimate you just cited. we have been studying it hard as it has gone on, found the damage is little bit worse because of government contractors, something excluded from our first analysis. the fact there is a lot of pain. at cea none of our staff are being paid. a lot of our goals have been furloughed. we have one staffer told me over the weekend, she is driving an uber to make ends meet. time for the democrats to come to negotiate. there is really a lot to fix. melissa: tell me technically, how does that work out in the long run? people get back pay they had.
4:36 pm
>> i'm sorry, you win out. could you start that over. the sound went out. melissa: i'm wondering how does it work out, how does the math work out in the long run? when people come back to work -- >> still can't hear. sorry. melissa: oh, no. you guys want to try to get his earpiece straightened out. can you hear me, sir? okay, we'll work on that connection, because i have, as you can imagine many questions for him. connell: of course. melissa: hang on, connell, go ahead. connell: we have breaking earnings news. let me do that now. hopefully we get kevin hooked up from the white house. the breaking news from the earnings front, an airline, united continental. it is way up after-hours. it is up about 6%. they came out with fourth quarter results here after the bell and topped wall street estimates as you might imagine as you see there on the screen. top and bottom line both better than expected, despite pressure from rising fuel costs. the news is driving up other airline related and airline stocks after hours, whether it be southwest or delta, american.
4:37 pm
those are all higher in the after-hours session by 1.25, to maybe 2%. so airlines should do well tomorrow. melissa: okay, we're going to squeeze in a quick break. we'll come back to try to get kevin hassett on the other side. a big loss for theresa may, the prime minister suffering a crushing defeat on her brexit plan. we are breaking down the next steps. that is live from london. plus facebook making a huge investment in local news. what they're hoping to gain from it, how it can help mark zuckerberg's image, coming up.
4:38 pm
♪ ♪ ♪ ♪ what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work.
4:39 pm
this is a very difficult job. failure is not an option.a. more than half of employees across the country bring financial stress to work. if you're stressed out financially at home, you're going to be too worried to be able to do a good job. i want to be able to offer all of the benefits that keep them satisfied. it is the people that is really the only asset that you have. put your employees on a path to financial wellness with prudential. bring your challenges. (vo) ♪ here's a question. was it necessary to create a luxury car more teched out than silicon valley? with a cockpit fit for aspaceship. hang on. radar that senses things the human eye can't. busted. and the ability to make a thousand decisions before you even make one. was all this, really necessary? what do you think? ♪
4:40 pm
but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. melissa: hopefully we have this straightened out. not part of government shut down. it was a telephone line. kevin hassett, president of white house council of economic advisors. you said someone in the office is driving uber when they're out not getting paid. >> that's right. >> when you calculate later on down the road, do revisions for gdp. did that person earn two incomes
4:41 pm
during this time? do we see the effect of that? flip side of the coin, there are people who say the revenue is lost because if people aren't at work in d.c., they're not at their place and don't buy the sandwich at the shop next to the white house. they're not going to buy two sandwiches when they come back to work. how do you sort threw those two different events? >> things are a little bit different now. first, the micro costs that actual pain or microeconomic costs, the pain, is lifted enormously because of a paycheck has been missed. so there are people who are having trouble making rent payments, who are not able to go out go to a restaurant or something. those are permanent hits to consumption. i think that the government spending side or macroeconomic side, what is going to happen is, they have been promised they will get the back pay which doesn't really help them right now, they're trying to pay the bills. fullness of time when they get back pay, that means there will be rebound in government spending. what will happen, it will be lower this quarter and higher next quarter assuming that this
4:42 pm
thing gets worked out by the end of the quarter. yeah. how do you assess that over the long term then? i mean because it makes it seem like, well we have compassion for the people that are not getting their paychecks at the time, that it does mitigate later if there is that bounceback in gdp? >> right. you know, there are many steps that people can take that you know, they should contact their supervisors in order to help them with federal credit unions making low-interest loans and so on. but in fullness of time this should not have long-run effect on gdp growth. it will be very painful this quarter. hopefully once the thing is resolved. we're disappointed that the democrats didn't show up to negotiate today. as soon as it is resolved, people get their paychecks, the government will go back to acting normal and economy will go back to the 3% growth that president trump's policies have delivered. melissa: when you say go back to acting normal, we don't know that we've seen normal for a while here. the sides are so far divided. having them not come, the other
4:43 pm
side not come to the table at the white house today, what's the plan? to the average american watching the show, you see day 25, seems like, you know, everybody is more dug in than ever before and there is no progress being made. what happens next? >> i know how frustrated americans are with this. the president and team made a offer, good offer, a reasonable offer. they have not received a counteroffer. they tried to set up a lunch. democrats would not show up to lunch. the fact many democrats are freshmen ran on agenda basically said we need to work together and focus on america's problems. we agree but nancy pelosi apparently doesn't. that is one of the reasons why we're stuck where we are right now. and so, i would urge the democrats to reconsider, to come, because you know, workers, government workers that are not getting pay are feeling pain. it is going to really affect the economy as well. so it is time for them to come negotiate. melissa: they're saying putting
4:44 pm
things on table to reopen government, moving down that road and mitch mcconnell is standing in the way of that. how do you guys respond? >> they could have showed up at lunch today talked about their plan to get through this they decided not to come. i think that is a more clear indication where they are. melissa: kevin, thank you for your time. appreciate it. kevin hassett. thank you. connell: all right. boy, doesn't sound like we're going anywhere anytime soon on all of this. a. a quick break. we'll be back with more reaction in just a moment. ♪
4:45 pm
comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers.
4:46 pm
"activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
4:47 pm
melissa: long term impact of the government shut down. kevin hassett, white house coins i have economic advisors chairman, telling us, all right, i have no idea. you guys cut that out? talking to just moments ago. let's listen.
4:48 pm
it should not have lung-run effect on gdp growth. something that will be very painful this quarter. hopefully once the thing is resolved, we're disappointed democrats didn't show up to negotiate today. as soon as it is resolved, people get their paychecks, government goes back to acting normal and economy will go back to the 3% growth that president trump's promise delivered. >> so the government will go back to acting normal that was the part that got me a little bit. there here now is james freeman from "wall street journal." liz peek, gary kaltbaum. i say that with all seriousness, james freeman, what i wonder is, i have compassion for anyone having a hard time paying their bills, is there legitimate question how many people we need working in washington? we're in new york. i'm not in d.c. i don't know if everything there has ground to a halt, how much pain there is, do you hear a lot of people from the journal suffering as a result of
4:49 pm
government workers not being in their place? we hear about the airports. >> right. >> but the rest of it, what are your thoughts? >> yeah. we don't want anyone to be denied an earned paycheck, but i this shutdown, like some other shutdowns raised legitimate questions about the size of the federal workforce. you're talking 380,000 people, nearly half the staff at affected agencies, roughly 25% of the government that has been shuttered are deemed by the government nonessential to perform the basic functions of protecting public health, safety, threats to life and property. and i don't know why taxpayers shouldn't be able to ask that question. melissa: yeah. >> as far as long-term economic impact, i think mr. has set was right on. not much. melissa: liz, always one of those things, when there is a big storm, companies send out notes, if you're non-essential worker, don't need to come in.
4:50 pm
that i think is trick email. if you don't come in the next day you have self-identified as non-essential. not a great idea. is that what is going on with the government? >> i think that is a good question. i'm assuming that job descriptions come with some sort of sense of whether you are deemed essential or not, non-essential. melissa: i don't know. >> are people picking up trash in the federal parks, are those essential people? i don't know. i think the thing has to get resolved. i really hope it does, obviously kevin hassett is completely correct. it is not devastating to the economy but there are sectors where people are waiting for permits to make various kinds of invests, they need the government to weigh in on tax advice whether combinations can work and stuff. this can't go on. and i have to say, i think that the democrats made a big mistake today, not showing up at the white house. i think the idea, that the public gets on to the idea that democrats are refusing to negotiate at all, i think they begin to lose this argument.
4:51 pm
melissa: gary, my idea would be if i were the president, i would put a deal on the table, i would have a press conference. i would lay something out with something that both sides hate. you know, say, here is what the democrats should give, i want funding for border security, i promise i will never use the four-letter word again. say to the other side, we want amnesty of some type, something that you guys absolutely hate that the other side loves, then dare everyone to not sit down and work on it. he could kind of be in the middle. what do you think? >> but isn't that what they have been doing since day one, going back and forth and just nothing getting done? look, i have got to say this. and we have this moniker fair and balanced. i will be fair and balanced. i think both side stink. melissa: absolutely. >> you have one side that had two years of the house, the white house and the senate, and didn't get it done and the other side, they are just basically lying about their past. they wanted barriers years ago.
4:52 pm
all of sudden they're immoral and they're not good anymore, they don't work, that side is laughable. the shame is, talk about non-essential, essential, these are real americans, real people that have a deal with the government on jobs. they have a job, they're supposed to be paid. they're not getting paid. melissa: that is a great point. >> these are real world people. the fact somebody has to go out drive for uber to make, you know, get food or whatever they have to do is just utterly ridiculous at this point in time. i think we're dealing with a bunch of immature idiots. that is how you get to 22 trillion in debt. that is a shame. melissa: chuckleheads on both sides of the of the aisle. connell: gary kaltbaum may be on to something. one issue, one. issues people are concerned about are airports. atlanta is bracing for three-hour waits. security lines growing longer with the shutdown continuing. we'll talk about next. the potential impact on security.
4:53 pm
♪ it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot org.
4:54 pm
4:55 pm
:
4:56 pm
>> now to the ripple effect of this government shutdown we have been talking about, more unpaid tsa workers have been calling out sick. the unplanned absence rate spiking at the tsa to 7.6% monday. that's up from 3.2% on the same day a year ago. we have retired admiral with us, former deputy secretary of homeland security and former tsa administrator. thank you, sir, a lot of people have been talking about this, and now with this newest piece of data in, that that rate more than doubled, first of all, does that raise security concerns for you? >> well of course it does. i think job one for the administrator at the organization for all the employees at the organization is to remember that if if traveling in the american public, both
4:57 pm
people and cargo, point a, point b, that's the mission, the mobility, the purpose to why they are doing what they are doing. the first purpose for the administrator is not violate any of those standards because of the ripple i shall call it you know in terms of people coming and going. of the moment based on the government shutdown. >> atlanta's airport busiest i believe in the country, certainly one of the busiest put it via twitter earlier that people should expect much longer than normal wait times. they said give yourself three hours. that's to the point yes it is going to be slower. you said it does raise security concerns. how does slower equal maybe less safe? slower allows one to balance the security standards and hold on to them based on the volume of people going by. couple of points to be made here, first of all, we're dealing with this government shutdown in the middle of a high-profile high traffic
4:58 pm
season, the christmas holidays and new year's holidays are always a window of time when a lot more people are traveling than normal. secondly, the challenge again for the administrator is to hold on to the security standards while he deals with the personnel side of his organization, not only with regards to the callouts which you point out is a very real issue, but just the normal flow of departures and arrivals into the organization that's routine. my guess is that he has probably doubled up on the recruiting efforts at the moment, to try to take stock of people that will not only look for another job to supplement what they're not getting at the moment in order to pay bills and put food on the table. also the longer term, which might say some of these folks will not come back, and therefore, he's going to have to double up on his recruiting. >> i hadn't thought about that second part, which is interesting. i was going to ask what do you say to that first person who
4:59 pm
very well could be a tsa worker, right, that says i have to drive uber or do something to make myself a few bucks to feed my family and pay the bills. what do you say to that person who is supposed to be coming in and working for no pay? what would your message be to them? >> my message to them is when it happened on my watch is have them fall back on why they signed up to do what they wanted to do. the purpose associated with that mission does have a meaning to an awful lot of the people that are the transportation security officials, the officers, i'm sorry, the tsas at the airport and at the checkpoints. so he's going to say we're not going to lower our standards for any reason. as we need to, we will modify the checkpoint structure, open up more lanes or reduce the number of lanes based on the people we have to keep the standards where we want them to be. >> admiral, thank you for your
5:00 pm
time. we appreciate it. >> that is the concern, safety in the face of all this that is going on. without question. >> yep. they're trying their best, though, the people that are coming to work. thanks for joining u. we appreciate it. >> bulls & bears starts now. david: major companies are now sounding the alarm, what they are warning could happen if we don't get the government up and running again pretty soon. this is bulls and bears thanks for joining us. i'm david asman. joining me is the panel. congressional democrats boycotting a meeting today with the president and republican lawmakers this afternoon that's on day 25 of the partial government shutdown. this as a few u.s. companies are now warning about the economic toll of all this. delta airlines saying its revenue is already down 25 mi

46 Views

info Stream Only

Uploaded by TV Archive on