tv Cavuto Coast to Coast FOX Business April 24, 2019 12:00pm-2:00pm EDT
great difference to the market going forward. as we run up to four we have facebook down 80 cents. that's nothing. microsoft is down 48 cents. that's nothing. just wait, 4:00 this afternoon, watch fbn we'll cover it. neil, it is yours. neil: meanwhile at noon you might as well click on. stuart: stay with us, everybody. neil: that's fine. that's fine. thank you, stuart, very, very much we're following developments of "after the bell" earnings with microsoft and facebook. stuart is right on that. that will be closely scrutinized. even boeing with a one billion dollar hit with all the 737 max issues, that stock is up. that is containing losses in the dow right now. as earnings season ensues, with a quarter of the s&p 500 companies reporting, they're up, they're up about 6% versus a year ago. that is not contraction that many envision. doesn't the president know it.
commenting a short time ago before boarding marine one, on air force one enroute to atlanta talking about the good money and good markets. take a look. [inaudible] >> so the stock market and our country from an economic standpoint is doing the best probably its ever done. we're hitting new again. we hit new highs i guess, close to or over 100 times since i'm president, from the time of the election. unemmoment numbers are the best they have ever been, by far. we have almost 160 million people working today in the united states. that is more than we have ever had working. neil: all right. so that is, according to the president, what's really at the backdrop of all of this. why would you want to impeach anyone in the middle of that kind of progress. go to market watchers jack mcintyre, james freeman, fib
bnam co-host lauren simonetti. his message has been why do you want to disrupt this, waste time in hearings, that will be just that, a waste? that is what he is saying. >> that is a valid point and he also sort of engineered the engineered a strong economy. fed, dent raise rates, maybe cut them. doesn't hurt us. oil and gas go up. saudi arabia will pump more. he is trying to engineer this recovery as best he can, as these investigations, they tried to stonewall these investigations lead up to the election day. neil: jack, i'm wondering the backdrop of these hearings that could ensue. the president, isn't quite so sure he would listen to those subpoenas, or respond to those subpoenas, saying that it is all trumped up no pun intended. it is a democratic cabal, it is after him.
i'm just wondering whatever the legitimacy of taking that stance, what the fallout would be for the markets if it's a struggle to get these folks that testified with mueller to testify again? >> as investor class it is based on what might happen with a political standpoint. you have to go back to what the economy is doing versus expectation. for now i'm viewing the political side of these probes as a little bit as noise. i'm not making investment decisions based on that. there might come a point in time when i need to. i don't see that. neil: market response to all of this, for example, s&p and nasdaq hit a record. nasdaq is up again with record territory. s&p kind of flat. they do not seem to be sensing this is something they need to worry about, right? >> no. clearly you can say global investors share jack's view. there has been a lot of noise from washington. this has been true since the start of the trump administration.
there is a lot of media commentary about grave threat to our republic. investors don't see that. they see thriving rule of law, the united states economy doing very well. neil: what do you think, lauren, about the average individual investor? you could make a case that this quarter is surprising to the upside. >> i know. neil: maybe that is deliberate. maybe they were understating things that was pleasantly surprised. might not be a contracting quarter. might not be a contracting quarter then what? >> so far earnings growth is up about 6% when we were expecting this decline. we set the bar too low. you don't want to discount the fact that inflation is starting to creep in, seep into earnings reports. we saw that i can give you some examples. kimberly clark, proctor & gamble, csx. you have the trade spat going on with europe and china is something you have to monitor. you have to put the fed what they side to do to combat inflation, should we see it further how they would respond.
right now the fed is a tailwind. it could be a headwind. neil: jack, you have been prescient on lot of developments in the market. i have smart market folks with me, what worries them? what keeps them up at night? to me they're at prior rib at ponderosa, to you, what is more substantial? >> to me olive garden. neil: there you go. >> it is u.s.-china relationship. china has got to grow. i think this is part of why we're seeing better economic activity in the u.s. china has done enough stimulus to get some stability. neil: they have really turned things around. everyone is talking recession. >> maybe we've done enough and we need to sort of pause which is fine. i'm not in worrying about inflation camp. i think the secular disinflationary influences are dominating the cyclical influences. i think that is a reason why the phillips curve, that
relationship between employment and inflation, is sort of broken down a little bit. neil: but don't you worry when see a cover story in bloomberg, inflation -- i always worry, that is sure sign it is the opposite. >> "time" magazine, i'm not sure that is still around, if that was on the cover i would be more concerned. you know, there is going to be select companies that have some pricing power but i don't see it in aggregate. >> big tech is doing well right now. that is such a heavyweighted part of the market. big tech is basically leading the rally we've seen. we'll hear from facebook tonight. i'm pretty bullish on facebook. neil: a lot have come back from their lows. look what is going on with twitter. do you get, who will lead the next wave then? when you talk to folks, are they talking about sector rotation which typically we see in aging bull markets? i don't know if this is aging but it's a long one but what do you hear? >> i think it's a broadly
healthy economy. we mentioned earnings better than expected. pretty much across the board. the economy looking better than expected. retail sales obviously healthy. we'll find out on gdp this friday. but it looks like a pretty solid economy. in terms of things a problem long term. there is the debt load. the big failing of the trump administration. not that he is alone in this failure, no spending restraint. in terms of economy. good incentives. better than we thought in the first quarter looks like. a great advantage for the united states to have competitive tax rate now for business. >> when you ask democrats about that, especially the ones running for office they won't tell you the economy is not doing well, they start to paint the inequality scenario, it is great for richest out there but everybody else is awful. neil: donald trump, unevenness of that. if you can't go -- >> it has improved. you've seen wages coming up. that was sort of the story of
the previous era, where fedexer is shuns, people that didn't see much progress. neil: i always argued economic backdrop has a issue whether president could be impeached, what saved bill clinton was the notion that wall street wanted him to stay. the economy was good, the markets were good. richard nixon wasn't so lucky. i'm not trying to trivialize it. the economy is strong. you don't want to change hours whatever your political viewpoint. >> clinton to certain degree he was lucky. he was president with a huge tech boom, attracted huge amount of capital. trump is in good spot. u.s. economy is doing well. one area to keep an eye on, the strength of the u.s. dollar. if we see it surge higher in here, we know that will be tightening of financial conditions. we shouldn't be rocking the boat
in terms of you know getting impeachment, getting any kind of traction. i don't think it will. neil: right. >> i think it will be a little bit more noise. >> it is interesting, looking at democratic candidates running for president right now are kind of the best barometers especially of democratic opinion, they say health care is the big issue, not impeachment. klobuchar basically 25 times more questions to her on health care versus impeachment. neil: that is what won them the house, think about it. >> exactly. neil: lauren, you reported as well, fox survey of voter sentiment, democrats, republicans nowhere in the top five was the mueller probe or in the top 10. >> kitchen table issues. neil: kitchen table issues which isn't too surprising. >> what is interesting as the president tries not to answer the subpoenas and not cooperate with all the probes and investigations, does that force the democrats hand to actually go for that impeachment vote? how would that affect the
election and also the stock market? if we actually get there he is not cooperating and democrats are so desperate. neil: the journal editorialized maelstrom around the president is what gets in his way than the economic environment, right? >> the economy is, the economy will get trump reelected. neil: interesting, that is your prediction. >> that is my prediction. neil: we'll twist that around. >> invite me back couple years. neil: see you in couple years. thank you very, very much. at corner of wall and broad we're down 25 points. volume is running 2/3 what it was yesterday at this time. a lot could be earnings out of microsoft, facebook after the bell. we're a little more than quarter through this process. as they all pointed out it is a little better than expected. the prospect of subpoenas, whether the president answers them, or tempts a fight with democrats is anyone's guess but it is fair to say that some controversies will continue. we'll be following that with
long bonn and interest rates still hold their own. oil prices giving a back a little bit from yesterday. bloomberg business week said, maybe no inflation to worry about this time. but it is never this time. after this. ♪ i'm working to make each day a little sweeter. ♪ to give every idea the perfect soundtrack. ♪
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neil: all right, the president, first lady on their way to atlanta. it will be an opioid summit. the president made that among his signature issues. we'll be following that, ahead of that. before taking off on marine one for air force one for the trip to atlanta the president was talking about all the subpoenas to get former staff members, present staff members to to capitol hill to start talking. he was not sure he would honor them all. blake burman, with more at the white house. hey there, blake. reporter: president making it very clear those within his administration both past and present, really all across washington have the blessing from president trump to go ahead and fight these subpoenas. we heard from the president, subpoenas being, that are sent specifically from democrats in the house of representatives, to
members of the administration. we heard from the president a little while ago. the president's cited the mueller report. this is one of those times where he doubts it. look, there was a two year investigation and now it is time to move on from that. >> they checked my financials and they checked my taxes i assume. it was the most thorough investigation, probably in the history of our country. i say it's enough. get back to infrastructure, get back to cutting taxes, get back to lowering drug prices. reporter: a key issue at the moment is the subpoena request for former white house counsel don mcgahn who spoke extensively and under oath to robert mueller's team. kellyanne conway says the administration will possibly cite executive privilege. they instructed former personal director carl line to defy a
subpoena from the house oversight committee. probing how some members of the trump administration got security clearances. just within the last hour, last 30 or 40 minutes, the department of justice has written to the very same committee, the oversight committee saying that john gore, who is the principle deputy assistant attorney general for the doj civil rights division will not be allowed to sit for a deposition. this deals with the 2020 census issue regarding citizenship. when you hear from the president himself, the actions already taken with kline and specifically on something completely different. the census issue. it is very clear here that the administration is pushing back on the subpoenas that are coming specifically from the house, specifically from democrats. neil? neil: blake, thank you very much. first of all can the president do that? can he ignore a subpoena when his people are being required to testify on capitol hill? let's get the read from a former justice department official where this is going.
on that issue first, hans. a lot of breaking news i want to share with you, can you ignore that? can you say no, subpoena or not i'm not going to have these people come? >> executive privilege is a constitutional right of the president, recognized by the u.s. supreme court and it has been asserted by numerous presidents. you may remember that president barack obama asserted it executive privilege when congress was trying to investigate operation "fast & furious." no one really questioned the fact he has the right to do that. neil: let me also relay something, i caught the president talking about when he was outside of the white house, this idea that they have already looked into that, the mueller folks, all his financials, including, i think i heard him say his taxes. would they, is it your understanding that the mueller folks did in fact get their hands on his taxes? >> i don't know the answer to
that. i don't think you can really tell that from the, from the mueller report. neil: that's certainly what the president was intimating? >> that may very well be true but i don't know if it is. neil: okay. separately i told you i would hit you with a lot but you're handling all of this very well so congratulations. we're hearing president's former personal lawyer, michael kohan is disavowing responsibility for crimes he pleaded guilty to. this is coming from "the wall street journal" that he evaded taxes and a criminal charge related to his home equity line of credit was a lie. now the back and forth i'm just wondering about the timing of that and what we could make of this, if he is dialing back or even reversing some of the things or the crimes which he earlier agreed? >> look, this kind of behavior from him is not surprising. remember, if you go back to the report filed with by the prosecutors with, with the
judge, when he was pleading guilty they were coming up with sentencing recommendations, look one of the things the prosecutor said was that cohen had this constant practice and habit of constantly trying to shift blame and to downplay what he had actually done. i mean this is just more of that same kind of behavior. neil: what is interesting, this is a recorded phone call dating back to march 25th, apparently without mr. cohen's knowledge, in which he acknowledged that the president first made contact with him back in june, providing the recording for "the wall street journal" to review which they did. he said, my family's happiness and my law license, i lost my business, my insurance, my bank accounts, all for what, all for what? because trump had an affair with a porn star? that is really what this is about. i'm wondering what are we to make of that, whether that changes anything here? >> look, that is completely untrue. remember, he pleaded guilty to
tax evasion and bank fraud. that is what the main things were that he was charged with. he lied to the irs for years trying to misreport his actual income and he lied to banks too for lines of credit. so the idea that the only reason he is in jail is because of the payments that were made to women claiming affairs, i mean that is just doesn't fit with the actual story. neil: that was actually a small part of it, to your point. lanny davis, his lawyer, says michael has taken responsibility for his crimes. will soon report to prison to serve his sentence. telling "wall street journal" he cannot change the past. he is making every effort to cree claim his life and he made no offense by his statements but clearly reversing some of those statements which is going to throw right back into the mix whether he can be trusted, right? >> well, remember, he was convicted for lying to congress, lying to the irs, lying to his
banks. so, why would we take anything that he has to say as the truth now? neil: we'll watch it closely. thank you very, very much good chatting. >> thanks for having me. neil: twitter already is talking about how it is changing things. jack dorsey meeting with president of the united states yesterday. he said i'm open to meeting and have with any world leader that has questions. whatever he is doing, the subscribers he is gaining is working. the stock has been soaring, right now his reputation, well that is stablizing, after this. ♪ ♪ our new, hot, fresh breakfast will get you the readiest.
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, raising eyebrows whether the president strong-armed him or dorsey is continuing campaign to make twitter more tans parent and accountable? we have lance ulanoff on all of that. what do you think is going on, lance? >> i don't think this is strong-arming twitter or jack dorsey. twitter has been working on the platform for years. in the last year it has really gone hard trying to remove bots and trolls and hate speech and people from other countries trying to steer election sentiment. this is not new. they have been working on this not just for the u.s. elections and midterms in 2018 but for elections around the world because twitter is a platform that people will get on, trying to build up mass sentiment to drive people in one direction or another and that's really what jack dorsey and twitter do not want. neil: all right but i cannot not
imagine the president making clear to dorsey, i don't think you're very fair to conservatives? he has said as much, repeatedly. >> i know he has. neil: he is one of the bigger, more popular draws on twitter. he is reminding him, i drive a lot of your business. how do you think that whole thing went? >> i think that jack listened because he is really good at that i think he took it all in. he probably restated. they're not trying to build a political platform that liens one way or the other. they're trying to build a conversation and information platform. neil: why was jared kushner there? i always wonder. shows up -- what is the deal there? >> no, but he actually, jared kushner oversees a lot of, oversees the u.s. digital services within the white house. neil: got it. >> so he is very connected to the tech side of what is going on at the white house. but you have to remember i know
the trump sauce, he had 59 million users. he is keeping some and lost some. by the way so did everybody else. i lost thousands of followers. why? basically twitter began an aggressive bot purge. i have got to tell you i've done some research on this, it has helped remove bad bots but accidentally removed good accounts. it is somewhat mindless. twitter doesn't really respond to that very much. you have to work to get back on. it is not about which way you lean. it is about what does the algorithm see in the account that triggers it to remove it. >> you don't buy the line from those on the right it is disproportionally zeroing in on those on the right? >> no. i've been on twitter since, for what, like 11 years. that is not what i've seen. there is a lot of conversation
on both sides. neil: okay. got it. lance, thank you very, very much. food -- good seeing you. we'll hear tomorrow that joe biden is running for presidency of the united states for the third time. he is hoping to prove that is the charm. barack obama will not take sides or early endorsements or any 18, 19, or 200 democrats runed for the presidency. charlie gasparino has been following this very, very closely. charlie, what do you think? >> well a couple things. initially i started covering biden, he is making a rollout last two years, slowly but surely. including at the salt conference two years ago, where he had a major fight with a democratic, wall street democratic, bill ackman, hedge fund manager. neil: that was scaramucci. >> that is coming back in a few weeks. it is the two-year anniversary.
he basically said i'm a better candidate than hillary was, and i could have won. he is slowly rolling this out. i initially thought, i know a lot of wall street dems, he would have the money, no problem to make this run. i'm getting now from the same people, this could be an issue. he waited a long time to get in. he, a lot of those major democratic bundlers in the financial business at, at hedge funds gone to different places. i read a report a big time hedge fund executive, used to work at blackstone, various places. he went to beto o'rourke. so that's a big loss. he was one of obama's initial wall street people. and, on top of that, i'm also hearing from the same wall street dems, obama, i asked today, will he at least say something nice about joe. he is going to stay out of it for now.
obama is a big fund-raising draw. if he came in and said everybody should line up behind joe and i like him -- neil: he can't risk that, right. >> depends how much he thought the democratic party is leaning so far to bernie sanders. he may have have to do that, at some point looks like if bernie will win. a lot of democrats say this guy is the death of us. that is where we are. neil: there is growing concern about joe, whether he is up to that task. looks, you know, good from afar but once in a race far from good. he has some baggage, right? >> he has never been particularly good presidential candidate. he is a good vice president, wing man for president obama but he wasn't very good. he has his gaffs. the touching will come up. i kind of think, i think he played that right. he let it go. he said he is sorry kind of, let's move on. i think there is sort of exhaustion with that. so i think, right now the bigger question is, can he raise the
money? does he have the stamina? he is older. and, you know, can he, will he fight? will he stop apologizing about being a moderate, progressive? you know, there is this whole thing -- neil: has he signed on to the green deal? >> i don't think so. one thing about howard schultz, the independent, he doesn't apologize for any of that stuff. nope, against the green new deal, against this, that. that is probably the ground that joe biden need to stake if you talk to people on the street, in order to get that 30% of the sort of democratic vote not far left. neil: you remind me, polls are very iffy at this stage. he polls the best of all the democratic candidates versus donald trump. >> for now. for now. by the way bernie sanders was right up there. neil: bernie was leading. >> here is what i wonder? is the country so divided no matter who they put up there, even if it is bernie that 50% or 44% of the country is going to vote for the democrat?
44 will vote are to the republican, you have to fight for that middle? that is real interesting question. i don't think people are -- neil: real quickly the president of course was talking about the economy. talking about the markets. >> right. neil: using that as a positive backdrop, even to challenge some of these subpoenas to get his former people, staff members, present ones to appear on capitol hill. does that resonate as election issue. >> i think so. economy is good. usually you do well. one thing i want to point out about dorsey he met with a lot of conservatives. met with conservative reporters. neil: he has. >> i just don't think, i know a lot about this, i don't think he is setting out to screw conservatives. maybe there is something with the algorithms the way it is written. i just don't think -- neil: i think he likes money. >> that's it! how much you bet trump didn't say, listen, can you stop the russian bots, can you get rid of them, do you think he brought
that up? neil: i have no idea. >> i bet he didn't. neil: glad you're feeling better. we missed you. charlie gasparino, with avenge against. see that, hear. you might not be glad to hear the latest developments on the border right now. more and more prominent democrats and liberals in general are saying, well you can call it whatever you want. what is going on at the border is now a political problem if we ignore it. after this. 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? in crossing harsh terrain... or breaking new ground?
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neil: we're getting report from bloomberg concerning amazon's alexa, where reviewers can access customers home addresses, personal information, so they kind of know how you're feeling and track you down, especially then if you're saying something that they don't flip over. now that is the inference here. the stock is down a little bit. of course it soared yesterday. but something to watch very, very closely here. people are saying you know, amazon is getting a little
spooky for word here. we'll follow that. follow what is happening at border. apprehensions already surpassing 2018 levels. the president is threatening partial border closure if mexico doesn't do more. we have former i.c.e. senior attorney john guyan on all of this. john, what is at stake here, a switch from the left. one thing to hear you know, a number of democratic candidates, cory booker, among them, but a host of others now who are weighing in on this, saying you know, yeah, we have got a problem here, to ignore it is to risk, you know foolery. what do you make of this? >> hi, neil, thanks for having me back on. this absolutely is a problem but unfortunately not a problem we can detain or deport our way out of. as long as central america people are leaving a terrible, terrible situation, coming to the united states with glimmer
of hope to stay temporarily they will keep coming. the waves and waves of migrants coming will keep up. until we solve the problem back in the northern triangle countries of guatemala, el salvador and honduras. until we solve the problems make them stable, economic environments we'll have people continue coming to the united states for the american dream. neil: tom friedman, "new york times" columnist, left of center would be a fair characterization, he is saying not that a wall is exclusively the answer but coordination of something is and refusal to acknowledge what is going on is bad on both parties. i'm paraphrasing here. what do you think of the message he is sending? >> right. i think he is absolutely right there. we cannot ignore the crisis because status quo simply isn't working anymore. elements on the right and left which have been perfectly fine with the way immigration policy is enforced last 20 years, because it benefited everybody.
we're seeing unprecedented number of family units. mothers with children and unaccompanied minors coming across the border. this is not the sustainable workforces everybody was okay with before. we were having primarily single young men coming in for work filling gaps in the economy. we don't have that anymore. we have women, children, overloaded school systems and overloaded social structures. both sides are suffering. people coming are suffering. people in border towns are suffering. this problem we have to address immediately. neil: i don't want to overstate it that suddenly friedman is not into the president's corner. it needs to be fixed but the wall is only part of the solution. he calls on other solutions. in the past both parties ventured but they end up going nowhere. do you think that given the fact that more democrats, more, more, you know, movers and shakers on the left, now a couple of the presidential candidates, to say nothing of jeh johnson,
barack obama's former homeland security secretary they're kind of saying the same thing, not exactly the same thing, it will be difficult? that they will do something now? >> i think the stage is set to start the negotiations for a comprehensive immigration reform. at least piecemeal border security and asylum reform and something to do with the daca and dreamers individuals. but in this climate, i don't think anybody on the left wants to give president trump a win, even if it's a win for the left. so i don't see anything happening in congress up until the election and then maybe after the election we'll see something, maybe in the lame-duck session but what we can see are tweaks to the system. the attorney general can change things. he can change immigration policy enforcement on a whim. we can see change in code of federal regulations. we can see things around the periphery, where all sides agree to it we can solve some of these problems and issues. neil: john, we'll have to watch. we're not at that stage yet.
more and more are agreeing it has to be done, just acting on it. john, thank you very, very much. >> thank you, neil. neil: china is warning of oil sanctions against iran. china gets a lot of oil from iran. china is not the only one. some closest allies say the president is forcing them into a corner. say nothing, of higher gas prices that could walt, after this.
neil: this is interesting. finally boeing put pen to paper, all the trouble we've been having with the 737 max groundings, that resulted in a one billion dollar hit and that is conservative yet the stock has been up. maybe they envision a big hit. who knows. fox correspondent dan springer in seattle with the latest. hey, dan. reporter: neil, investors thought it would be even worse news than it was. this was a conference call and boeing put out the numbers. investors boosted stock price of boeing up five bucks so far in trading. those two crashes involving boeing's most important commercial plane, 737 max, killed of course 346 people. that is the human cost. now we're getting a first look
at financial cost for boeing. after a record record-breaking , boeing is down across the board. sales hit $2.2 billion. net earnings 2.1 billion, drop of 13%. earnings per share is what investors look at is down $3.75 a share. that is 10% lower than last year. cash flow is off 11%. this is the result of the grounding of the 737 max which happened in march a few days after the second of the two fatal crashes. since then boeing continued producing the planes but the a slower pace. 42 a month instead of 52. but here's the key, during the grounding boeing is unable to deliver any of these planes to customers. 5000 max mains are on order over the next two decades. right now they are just piling up. and not bringing in any revenue. boeing puts the cost of the grounding so far at one billion dollars and that does not include any penalties they will likely pay the airlines because the planes they bought so far are out of service, forcing them
to cancel flights. it also does not account for payouts due to lawsuits that have already been filed by families of the victims. boeing is also taking two very unusual steps. it has suspended its stock buyback plan which propelled the stock price over the last few years and the company is canceling its forecast for upcoming sales and profits. here's chief financial officer greg smith on a conference call this morning. >> financial ruts continue to be adversely impacted until we safely return the 737 max to service. ramp up production rates and resume deliveries to customers. reporter: analysts have been saying it might be october before the grounding is lifted but reuters just came out with a report that the software fix could be approved by mid-may and the grounding lifted sometime in july. that would be very good news for boeing and investors. neil? neil: dan springer, thank you very much, my friend.
we'll look what is going on in the oil markets right now. we hit a six-month high yesterday, giving a little bit of that back. a lot of this because we are slapping sanctions on anyone, anyone who buys oil from iran. now of course we stopped doing that years ago but now the president is sort of upping the ante by saying all right, friends or foes alike, if you're trying to get oil from the iranians we'll put the screws to you as well. that could have an effect of lifting prices in the general markets which was the case yesterday. we talked to a number of analysts who said it was overdone. maybe that little unwinding is happening today? let's get the read from former shell oil president john hofmeister. john, where do you see this settling? i always thought yesterday was a bit of overreaction in the scheme of things, i'm not minimizing it but where do you stand? >> this will be a slippery slope as long as it lasts neil.
there are so many ways to cheat at it. iranians are good at it. there are many ways to use third parties, fourth parties fifth parties to transfer oil and thoughing what is going within can be difficult. the iranians have a extra club threatening to close the straits of hormuz which would be a very serious problem for the world if that was ever to occur. also everybody knows that the achilles' heel to the economy is a high oil price and if the oil price gets too high, that could impact the economy which directly impacts the president's re-election campaign. so there are all kind of reasons why this is not going to be i think any kind of a straightforward deal. secretary pompeo sounded pretty tough about it on monday but here we are later in the week and i think people are already sensing that china's not going to completely agree with the trump administration. turkey is a neighbor, they will not agree with the trump
administration. there is reports in the newspaper that europe will encourage iran to keep pushing its oil into the marketplace. so, all these things are in a mix. it is an ugly mix. neil: then there is the issue of demand period. if we dodged a bullet and the global economy is not heading into recession as some feared a little more than a couple months ago when we got a slowdown coming out of china, that since has kind of reversed, that offsetting that, just market fundamentals supply and demand would seem to favor oil and as well gas prices moving up, right? >> yes, indeed and i've said for months now we have never yet recovered from the 2014 to 2018 price debacle on oil where companies stopped investing at a rate they previously had. we've only replaced 40% of the reserves that we were used to replacing every year when the oil price was higher. so there is a systemic
underlying issue with demand exceeding supply and tightening up the supplies as we look over the next one to two years. so this is going to be a struggle. the u.s. can play a big role in producing as much oil as we are, or increasing that but, there are many big projects that are now coming online whether it is exxonmobil's guyana, some of the african plays. it is not like we're running out of oil. we shouldn't see skyrocketing prices but the saudis want their $80 a barrel, neil. i don't think they will quit until they get their $80 a barrel, which they told the world that is their budget for 2019. neil: as you pointed out they're not budging. iranians think they still have a market for their oil. the chinese indicate they will. many european countries think they will. this might be a lot of drama for nothing. we'll watch it very closely. john, always good seeing you. thank you very much. >> thank you. neil: the president by the way
just arrived in atlanta. he will be addressing opioid and drug-related abuses. a big summit, a big cause of his and certainly the first lady's. when he speaks later this next hour we'll take you there. more after this. i'm working to keep the fire going for another 150 years. ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for.
we've hit new highs, i guess, close to or over a hundred times from the time of the election. neil: the president echoing a theme that he is, no doubt, going to raise in atlanta even though the substance of his remarks will be focusing on opioid and drug-related issues, a signature issue for melania trump. all this talk about subpoenas and getting former and present white house officials to speak up on capitol hill, he might ignore those subpoenas, and he might be urging a lot of those folks to think twice about appearing on capitol hill in what would be a political cabal, he has argued. and it's the backdrop of very good economic news, market news, and why, as he has said in the past, would you want to disrupt that by trying to impeach the president of the united states, donald trump? to national taxpayers union senior fellow mary and market
watcher jeremy to wents -- maddie, what's what he's been saying, what why would you intet a good thing? that was kind of the argument of the clinton white house when republicans were going after him saying, look, look at this backdrop, the economic boom, the internet boom, look at what's going on with nasdaq. would you want to disrupt that? this is that in reverse, right in. >> i think that's true. and if you look at polling, mueller still has general interest from the public, but other stories coming out of washington, d.c. like the trump tax returns and other ways democrats are trying to get away from the business of focusing on economics polls pretty poorly with the american public. the american public would like congress to get back to work on the matters of interest to them. and the president is speaking directly to that question. it makes especially to be talk about those things, in particular coming out of tax
season. tax refunds were supposed to be down because people's tax liabilities had gone up, and that wasn't true, but it took the entire tax filing season for the media to finally report that 80% of americans got a tax cut under the tax consistents and jobs act. -- consistents and jobs act. neil: uni, jeremy, when you look at the underpinnings of these market, they still look good, early though we are in the process, i think about a quarter of a way through, the numbers are coming in much better than expect ld. a lot of that could be that a lot of these guys ratcheted down expectations, i've said what i used to do with my parents when id tell them i would fail every subject on my report card. i lowered the expectations. [laughter] companies have done that, so if we avoid a contracting quarter, that's further evidence -- the president will, no doubt, say -- that things are fine. what do you want to change
horses for in the middle of this? >> yeah, sure. at this point, if it's a flat quarter, great, right? because the first quarter last year was so good. with those tax cuts coming in, there was so much profits flooding into these companies' coffers, and now they get to try and lap that. they were expected to fall about 3%, they're certainly tracking ahead of that right now. if the s&p, especially, is able to maintain earnings from first quarter last year to this year, it will be a big win for wall street, and since they're tracking that way, we're already seeing the results. neil: i'm wondering, maddie, whether the president is seizing on that and the fact that more americans are feeling better about their own financial well-being. not across the board, but the numbers are higher year-over-year, and that is something that presumably would be the wind at his back in a re-election run. that could change, you've reminded me of that and, certainly, many have, jeremy included, when it comes to
technology. but that, for the moment, is going the president's way, right? >> yeah. i mean, look at the macro picture. the two downside risks last year were u.s./china trade relations and the fed acting. the fed has pretty much removed itself from that equation, and we're full steam ahead on a u.s./china deal. so that pressure has certainly been relieved. and from the consumer standpoint, that has definitely improved. once again, that expectation game, i think, was crucial coming into tax season when you had media telling americans they would be worse off and then ended up noting being the case,e consumer will be bolstered by that. retail numbers have recovered, housing starts are recovering. we're seeing some strong data moving out of this first quarter that, i think, will be sustained. is it sustained until 2020 and in a way that the president can continue to connect his policies here to what americans are feeling back home. neil: that's what it comes down to, right? maintaining all of this, and you'd have to maintain for
another year and a half, essentially. do you, jeremy, see that happening? >> there's no way to look that far into the future right now. even in this quarter we're about to get the chipmakers which ares supposed to be the huge anchor on the s&p and on tech this quarter because they're supposed to be huge year-over-year declines, right? but a year and a half, can we maintain this? i would think we would see a big decline sometime this year. a hot of experts -- a lot of experts thought it was going to be early, but, yes, in the next year and a half we're going to see a big decline, especially what happens after that is really the question. neil: yeah, and whether people are feeling it, right? individual participation is still remarkably small in the scheme of things historically, maddie. so when the president likes to talk about what's going on in the markets -- and he's right to crow about it, god knows we blame the president if the opposite were going on -- but does it carry much bang for the
buck? what do you think? >> more americans are attached to the stock market than have income tax liability through their pension, retirement plans, so i think talking about the stock market makes sense because it's where americans feel a lot of their financial system. i think the story globally will also play into this. the rest of the globe does not look as good as the united states for the next year. whether or not that creates drag where the united states' position weakens or it allows the president to tell a tale of two countries where he gets to talk about the american success story while the rest of the globe lags, i think that will be, in part, up this administration and how they continue to message and how they handle trade relations with china, the e.u. and the rest of the world. neil: that's the wildcard. guys, thank you both very much. then there is the issue of the democrats and whether they seize on this. to a man or a woman, and there are about 7,000 candidates running for president of the united states -- that's the latest count. i'm joking.
some people actually seriously get back to me, there aren't 7,000 running! thereafter a lot, and they are talking about the fact that this is an uneven bull market and everyone's not playing in that game. we have the bush 41 economic adviser. that's the argument, that not everyone is participating, but good is good. a strong market is better than a weak market. is that going to remain -- i'm not asking you to be a market soothsayer, but is that something that will still work in this prime minister's favor if he can -- president's favor if he can main tape it? >> peace and prosperity, no president would not want to be able to say that the u.s. is not at a war, we're, in fact, withdrawing from some battlegrounds, and the economy is strong and the unemployment rate is low. so this is an economy that any president of any party would envy, and the question is can president trump maintain it -- neil: what keeps him low in the
polls then? i've always argued maybe it's the tweeting, maybe it's his personal stuff. regard how you feel, he should -- >> what keeps him low in the polls, neil, let's face it, we're dealing with a president that most people -- i shouldn't say most, that many people would not want to run into at a restaurant, much less turn on the tv and see. he's a divisive character. now, he may be a divisive character by his own design. i mean, president trump knows how to be popular with a certain part of the united states, and he's -- neil: oddly enough. >> and he's driven the economy in a very successful way, and very few democrats are going to be successful in trying to claim that the u.s. economy is not strong. neil: yeah, you know, richard nixon wasn't a very likable prime minister, but in 1972 with -- president, but in 1972 before water 2008 and the revelations, he won in a lopsided landslide because people said we don't want to
switch horses. >> likability only goes so far. people considered jimmy carter to be a likable guy, he lost re-election. george herbert walker bush was a likable guy, but bill clinton came into office. i forgot who it was, napoleon or someone, said he'd rather his generals be lucky than right. president trump right now has got luck and skill on his side and an economy that really steams to be roaring. neil: but it's always going to come down to those ballotground states, the ones that he won that he wasn't expected to win. i know it's hard to forecast 18 months in advance and a little more, but is it your sense he'd have a tougher time with that, or given this strong backdrop he could pick them up, even pick up states he didn't win, like a wisconsin? >> there's still battleground statements, and president trump needs to resolve this trade dispute with china and win it,
because farmers are not doing well in the current climate. farm income is down 8-10%, there are bourbon producers in kentucky who feel aggrieved, there are farmers in north dakota, soybean farmers around the country who ought to be republicans by their history and by their sentiment, and the democratic party thinks they may be able to pick them off if this trade war is not resolved. so the battleground states are still battleground states. neil: a lot of the democrats are arguing, first of all, they're betting that this recover cannot sustain itself for another 7, 18 months -- 17, 18 months, we'll see. the others are saying as well that there will be a mueller hangover, that people -- the more they discover what else is in the report, the more they can embarrass the president with revelations and witnesses, and it will be -- >> well, if all the democrats are going to hang their hopes on is resonance from the mueller report, forget about it.
president trump has inoculated, vaccinated the american people against information that he might be a little bit dodgy, make us a little bit uncomfortable. we know that. we've known that for years that this was a guy who is not going to walk the straight and power in row, but was going to find different routes in order to succeed. that's old news. nobody votes in an election base on old news. neil: his constituent constituency, the one that got limb elected, is that -- him elected, is that enough to get him elected again? >> if he can keep economic growth going at 2.5, 3% -- by the way, just about six weeks ago folks on this show warned that the economy was skidding to a halt and possibly we were going to have a recession. and now where are we? 2.5, 3% growth. if president trump keeps that going, he's going right spank into the white house in two years. neil: good seeing you. dow down about 56 points right
now. but, again, the markets are more than holding their own, in and occupant of recorder territory again today including the s&p and nasdaq. we're going to be taking you to the corner of wall and broad, also to atlanta, georgia, where the president and first lady are going to be addressing opioid abuse, a signature issue for the trumps, particularly melania trump. after this. ♪ ♪ see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you
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>> they checked my financials, andy checked my taxes, i assume. it was the most thorough investigation probably in the history of our country. i say it's enough. get back to infrastructure, get back to cutting taxes, get back to lowering drug prices. neil: all right. the president saying ahead of his meeting in atlanta on the opioid and drug abuse issue, he's with the first lady for that, that it's time for democrats to move on, that all these subpoenas for present and past workers at the white house to testify on capitol hill was a waste of time. one of the interesting things i
want to raise that he said also in that sound bite there -- and i'll raise it with gabby orr, politico white house correspondent -- that he assumes, gabby, that his financials and taxes were looked at. i never thought of that, but is that possible that maybe mueller's team did get a chance to peek at those? >> it is possible, neil, although nothing in the report indicates they found anything that may have, you know, indicated any wrongdoing on the president's part. otherwise i think that we probably would have seen some mention of that in this 348-page -- 448-page -- neil: yeah, but if the mueller folks somehow got their hands on that, i mean, that would be leaked, i think. but, you know -- >> they ran a pretty tight ship. there were very few leaks out of this investigation over the course of almost two years. but, you know, the president made clear today during his remarks to appropriators before leaving for atlanta -- reporters before leaving for atlanta that he really wants to move on from this.
he's trying to talk about infrastructure. he's, of course, heading to atlanta to speak at a summit about the opioid crisis. he was tweeting this moshing about the -- this morning about the immigration crisis at the border. he is eager to get past the mueller report, some of the embarrassing details contained in it and refocus on issues that he promised voters he would tackle during his 2016 campaign and needs to provide updates on as he hits the trail. neil: we learned from nancy pelosi just yesterday, she hopes to meet with the president, talk about infrastructure. i don't know how far those discussions go, but what do you think? >> yeah, i think he and nancy pelosi are set to sit down next week. they're, obviously, going to try and talk about some type of bipartisan infrastructure deal. but it comes at a really awkward moment for the president and house speaker because, of course, house democrats are sort of eagerly rolling out all of these subpoenas, threatening to hold the former white house counsel in contempt of congress, they have launched a number of investigations wielding their
oversight tools against the president over the course of the last few months since they took control of the house. so for the president to sit down with the top democrat, the leader of the democratic caucus, and try to work out some broad, bipartisan agreement on a thing like infrastructure, it just doesn't seem likely or even feasible at this moment in time politically. neil: all right. gabby orr or politico, thank you very much. the left of your screen, atlanta, georgia. the president has this opioid crisis meeting, how to deal with the opioid crisis. again, this was a suggest issue for him during the campaign, and remember in the early days he had former new jersey governor chris christie spearheading that effort. i do not believe that the governor is with him on this trip. i could be wrong. but certainly, the first a lady is. in the meantime, we're also following closely what's going on with a lot of business owners in the seattle area who are getting sick and tired of footing the bill and the grief for a homeless crisis that many
of them say is the government's doing and not theirs. robert gray in seattle with the latest on that. hey, robert. >> reporter: hey, neil. that's right. the opioid crisis certainly part of this as well. among a certain element in the homeless community, we've seen homelessness spike by 50% in seattle during the past decade, this also as there's also at the same time an economic boom in the fortune 500 companies based here like amazon, microsoft, starbucks in and around seattle contributing to a red hot housing market. that's part of the issue. but the local business owners see encampments like this, many of them not different from other cities, but what is different is the situation becoming untenable, threatening their livelihoods and in some cases their lives. transient vagrants are vandalizing small businesses and harassing employees and customers. >> seattle has become, like i said, free-attle. anybody can come here, they can get taken care of, they can do
whatever they want. but as a law-abiding business owner, there's a double standard. and we are becoming the city of enablers. >> reporter: now, shelton and other business owners say that a lot of these people are coming in from out of town. she was attacked by a pit bull, she says, released from one of the rvs encircling her business as she was walking her dog on the property. she's not alone calling out the lack of enforcement and accountability by city officials. >> rising property crime rates, we have the rising number of people on the streets, rising opioid addictions. and the city of seattle and the political leadership has been caught flat-footed. they've had no response. the problems are getting worse, and people are really starting to get fed up. >> reporter: and, neil, city council members did not agree to interviews by us as well. keep in mind, this is going to be a hot button election issue as seven of the nine council seats are up for grabs later this year. back to you.
neil: robert, thank you very, very much. in the meantime, want to take a look at what's happening with the dow right now, dominated by energy, two key energy issues. certainly, chevron and exxonmobil reversing what we saw happening yesterday when oil prices were running up on the belief here that our threat to go after sanctions not only in iran -- of course, which has been in place for years -- but those who trade in iranian oil. right now that runup is reversing itself, and predictably, in some of those stocks as well. again, not only in the oil sector in general, among the 11 that follow the 'em s&p 500, but in those two issues, exxonmobil and chevron, two key and very pricey components within the dow. we'll have more after this. of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.
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certainly, first lady's, as i've mentioned. he is also looking at a pretty busy week. on friday, japan's prime minister, shinzo abe, will be in town. he'll be talking to him. i think they're going to be golfing at mar-a-lago as well. edward lawrence has the latest on the trade front. a lot going on there. hey, edward. >> reporter: hey, neil. you mentioned that meeting, the state visit by shinzo abe, the japanese prime minister. ahead of that, more trade talks with japan starting tomorrow. the secretary of agriculture says the u.s. is working on a temporary agreement over agriculture only to lower tariffs, especially for beef and pork industry which is being squeezed out of japan by those tariffs. now, the u.s. also working on a greater deal with japan. now, with china the u.s. trade representative, robert lighthizer, will be continuing trade talks next week in beijing on tuesday. then the chinese come here to d.c. on may 8th for talks. >> we're doing well on trade.
we're doing well with china. things are going good. >> reporter: and you heard the president there, things are going good. in a trade deal, the chinese have asked for guaranteed access the certain markets. today a spokesman for the chinese foreign minister saying all chinese companies deserve a chance in all countries including the u.s. >> translator: we also hope that the countries concerned can provide a fair, just and nondiscriminatory business environment for chinese companies including huawei and strive to seek mutual benefits and win/win results. >> reporter: and the u.s. has warned allies about using huawei and allowing them to set up a 5g network for fear of spying. quickly on the usmca, all that's left now is to ratify in congress. we hear some grumbles that the labor and environmental protects are not strong enough. as far as mexico's concerned,
the agreement should not be changed. neil: focusing on apple, you can download a lot of its technology and itunes and all, but to hear the company's big boss tell it, the future may have everything to do with something it teased in its latest incarnation, this so-called cardio app that has now stretched into looking at the technology of legations of health health care related apps, health care technology. let's get the read from pediatric nurse practitioner dani springer on. that if we're to take tim cook at face value, that's apple's future. what do you think of that? >> yeah. well, as a nurse practitioner and as a millennial, obviously, i think it's very exciting. i was glad to see that tim was already talking about the need for regulation. so i think the future of apple making health apps is going to
depend on how willing they are to comply with regulation and prove that these apps are both safe and effective for patients. because patients' lives could be at risk depending on the technology they come up with. neil: do you ever worry as a nurse practitioner that people get overly paranoid about this stuff, that they have these types of apps on their phone or device that they get paranoid about? >> notes inly. i believe in technology -- not necessarily. i believe the best days are ahead of us for health care, and i think innovation's going to be a huge part of that. but i think apple is going to have to still win the mix's trust by proving -- the public's trust. we had the they theranos disast, but as long as apple's willing to comply with regulations and prove efficacy and safety, i think they're headed into making a huge impact in health care.
neil: so in other words, with their cardio app and the rest, you can upload that to your doctor, your cardiologist. >> right. neil: -- and a lot of people would to that if something looks abnormal. >> right. neil: are doctors or folks like you prepared for that? maybe you're already seeing that, and it's a good thing, i guess, to be concerned even if it's not justified, right? >> well, i think speaking for patients, they're wanting transparency, and they're wanting health information. is so if apple's able to really give that to patients, then health providers is are going to get onboard with that and prepare themselves for the future. certainly, technology's a huge part of that. neil: all right, dani, thank you very much. good seeing you. >> thank you. neil: all right. well, isis might have run out of land and run out of places to hilled, but they haven't run out of ways to kill. why is that? after virally lank ca, they're asking that very question.
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neil: fbi agents right now on the ground in sri lanka, trying to find out how it's possible isis could regroup enough to claim responsibility for an attack that left hundreds dead. former navy seal commander dave sears joins us now. you've been arguing you can run them out of town, but you can't run them out of existence. this was proof of that. what do we do? >> continue the counterterror fight, and it's got to be done -- now we're going to the ideological fight. they're justs reversing from a governance-type model and back to an insurgent type reus dance model, and they're going -- resistance model. they're going to revert underground. neil: easier said than done, i guess, but there were ample warnings to the government. i always hate that when it's easy to play monday morning quarterback with these things. they weren't very specific, just
enough that, you know, nefarious settlements were at place and planning some sort of an attack, but it was open-ended. what do authorities have to look for now? because the growing fear is, especially after new zealand, that something like this was being talked about in response and now growing talk that some sort of response to that against mosques might be in the offing and back and forth. >> right. i think some of that reporting is a response, a statement out of the i have lank can government minister that was irresponsible. this was, if anything, maybe new zealand upped the timeline, but there was a lot of coordination, logistics, planning that had to go into this and to execute it in five weeks since new zealand would have been pretty impressive. i would sort of discount that notion a little bit. but we do need to look for the intelligence, and then we need to act on it. there's a lot of political problems in the sirri lank can government that i think you're going to find out a lot more
intelligence was ignored or not acted on for what's going to turn out to be partisan reasons. neil: when we talk about taking land away or position, geography away from a terrorist group let's say like isis, we can feel that has stopped them or made their lives more difficult. what's your assessment, especially given what happened in sir sri lanka? >> absolutely, it made their lives more difficult. we did defeat them as a geopolitical entity. with that land, the funding that they had, the ability to recruit, the ability to have training areas, the ability to have sort of a freedom of maneuver if for their campaigns outside of that was incredible. so it is a huge defeat to them. but, you know, the center for strategic and international studies came out with a report that said there's probably somewhere around 230,000 jihadists supporting terrorists globally. that's a 400% increase since 2001. there's a lot of these people
out there, they're underground, and they have to be ferreted out. the military, but it's also got to be police, intelligence and also the communities that they're coming from have to start rejecting that ideology. neil: real quickly while i've got you here, dave, kim jong un, vladimir putin, they're going to meet one-on-one tomorrow. kim jong un is already in russia, i understand. what is this all about? is it putting pressure on the president? >> i don't know it's going to put pressure on the president. russia, moscow wants influence in north asia and asia and a piece in this negotiation. they've been ignored so far, so they want to put themselves on the stage. they also economically want to be prepped to have, be the energy supplier for north korea. they want to get a gas pipeline in there, they want to provide the electric. so they have great interest in kind of reengaging. kim wants to mitigate9 and circumvent the sanctions, and he's looking for methods to do that through russia.
i think he's asked for 100,000 tons of flour or manager like that. so these sanctions are hurting him. he's trying to find ways around it. russia's going to likely say, hey, look, don't launch anything, we like this, we want to draw out the talks, we want to show that we're relevant still globally. so they're going to come to some detente and see -- it's going to be a quid pro quo arrangement that comes occupant of this. neil: dave sears, thank you so much, as well as your service to this country. >> thanks, neil. neil: all right. we are awaiting the president's remarks in atlanta, drug abuse, his wife will be speak as well. we'll have more after this. [ cl- hey maya. hey! you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. you wouldn't accept from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms
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neil: all right, watching developments in atlanta, georgia, right now. the president is addressing, you know, a conference meant to tackle opioid drug abuse, that sort of thing. ahead of that, i've got the judge with me, andrew napolitano. the president did mention he's fighting these subpoenas from the various democratic committee chairmen to get past and present white house officials to tell them what they told the mueller folks. is that something he can do, can he fight a subpoena -- >> well, he can fight it, but i think he'll lose.
it's a classic confrontation between two branches, the congress and the president. the issue is, let's take don don mcgahn, former white house heel counsel who said some things that the president was not happy to read about in the mueller report and who has, as far as we know, directly been subpoenaed by the house judiciary committee and doesn't work for the federal government. he could walk into the committee this afternoon and start answering questions, if he wants. i think he has chosen to wait until a court rules. he's received the subpoena. the white house has asked for a copy of the subpoena. the white house has to send lawyers into court to quash the subpoena. and so the court will make a couple of examinations. first of all, is there a privilege? the privilege is the right to withhold truthful communications from the entity that wants them, the house judiciary committee. does the privilege exist? well, yeah, the privilege did
exist at the time they spoke. did the president waive the privilege when he allowed mr. d by bob mueller's prosecutors and perhaps, we don't know, one of mueller's grand juries? in my view, the privilege was waived. now, there is an argument that mueller's in the executive branch, and the privilege exists between the president and anybody in the executive branch. supreme court has said that's not so. the privilege only exists between the president and the people he regularly consults around him for the purpose of giving him advice, and the privilege exists for military, diplomatic and national security secrets. it doesn't exist for anything the president says or hears in the oval office. translate? the congress will win, and mcgp ahn will testify. neil: is there a difference between speaking to bob mueller and his folks versus congress? >> actually, congress' claim is
greater than mueller's claim, because congress is a coequal branch to the president. and mueller theoretically works for the president. with all of the president's bluster about firing him, he could have fired mueller just like he fired comey, because he can fire anybody in the executive branch. fire means remove from office. it may not necessarily mean remove from employment p. so the congress' claim since the president allowed don mcgahn to speak to mueller, the congress' claim is the highest claim now. they want to find out if mueller kept anything back that don mcgahn told him in mueller's report x. they have an absolute right to do so. neil: i do want to go to melania trump, but i did want to pick your brain on something the president said almost as an aside, they looked at my financials, my tax, did they? >> boy, i don't know.
and that's the only time i've heard it, is when i heard him say it. he may know something that we don't know. if he's just speck lawsuiting, i think it's -- speculating, i think it's uneducated because i don't know how the president's finances and taxes could remotely be involved in bob mueller's investigation. and i also don't know if the custodian of those documents, having received a search warrant or a subpoena from the court, would have told the president, hey, by the way, some guy named mueller's looking for your taxes, and if you don't tell us what to do, we're going to reveal them. if if i think if mueller had gotten the taxes, we'd knee about it. -- we'd know about it. neil: now let's go to atlanta, the first lady talking about drug abuse, a signature issue of hers and her husband. >> united incredible summer camp. as i told them, i have launched an initiative to encourage young
americans to be best. one of the two pillars of this initiative is addressing the opioid epidemic. i'm proud of this administration's historic actions to combat this crisis. together we are making great progress to help people recover, to support families and to heal our nation. my husband is here today because he care cans deeply about what you are doing to help the millions of americans affected by the opioid epidemic. this afternoon he has an important message to share. ladies and gentlemen, it is now my pleasure to introduce the president of the united states, donald j. trump. [applause] ♪ and i'm proud to be an
american where at least i know i'm free. ♪ and i won't forget the men who died who gave that right to me. ♪ and i'd gladly stand up next to you and defend her still today -- ♪ 'cuz there ain't no doubt i love this land. ♪ god bless the usa. [cheers and applause] >> we love that song. but let's get going, right? i want to thank you all, and i want to thank especially melania. he works so hard and those moving words -- even though it is from your wife, so maybe a little bit prejudiced in that way. but i will say that she is a hard worker and has a profound commitment to building a drug-free future for america's
children. gonna do it too. we're going to do it. made a lot of progress. [applause] today i'm honored to join the thousands of leaders, that's what you are, leaders, in across the country for the 2019 presentation drug abuse and heroin summit. very important. everyone here today is united by the same vital goal to liberate our fellow americans from the grip of drug addiction and to end the opioid crisis once and for all. [applause] that that's happening. i want to recognize the founder of operation unite for his unwavering community service, for his incredible commitment and to address this critical issue, congressman hal rogers, a friend of mine for a long time. and i want to thank you very
much, hal, wherever you might be. thank you. thank you, hal. good job. [applause] very dedicated guy. we're also grateful to operation unites president president nan she hale -- nancy hale. thank you, nancy. [applause] and thanks also to an outstanding public servant, a man who works day and night, no matter when i need him, he's there. i'll call him at the strangest hours. he's always there working. secretary alex azar. it's really great, alec, what you're doing. thank you -- alex, what you're doing. thank you. [applause] z and cdc administrator dr. robert redfield who is helping us to eradicate hiv/aids by 2030. and we're there, we're going to be able to do that. people are shocked. please, stand up, doctor. so important. [applause]
i said that recently in a speech, we will eradicate aids by 2030. we've made such incredible progress, and they doesn't know what i was talking about. they couldn't believe it. they came up to me after the speech, do you mean that? that's right, we're going to have it eradicated by 2030. thank you very much, doctor, very important. also with us is the lieutenant governor of this great state, a friend of mine and a man who has worked so hard with brian, the combination of jeff duncan and brian has been pretty much if unbeatable. they're doing a fabulous job. jeff, thank you very much. jeff, where are you, jeff? jeff, thank you. stand up, jeff. [applause] great job. really great job. mrs. duncan, thank you very much. and the georgia torn general, chris carr. -- attorney general, chris carr. chris, thank you. [applause] tough guy. and he's in there fighting for
know that. as well as members of congress, rick allen, barry loudermilk and jodi heiss, we have 'em all. that's a pretty unbeatable group. ms. we've been doing okay together, haven't we, huh? we've been doing good. to all of the people in this room who serve every day on the frontiers can anding front lines -- and front lines of this crisis, and a crisis it is, you have earned the gratitude of our entire nation. you may not even know it. but our nation loves you, and they love what you're doing, thank you very much. [applause] you are the first responders who bring patients back to life. you are the law enforcement officers who bring drug traffickers to justice. you are the doctors, nurses and counselors who give struggling citizens the hope and solace and
build a brighter and brighter future. and you are the families and faith communities who help thousands of americans overcome addiction for a new life of freedom. my administration is deploying every resource at our disposal to empower you, to support you and to fight right by your side, and that's what we're doing. we will not solve this epidemic overnight. but we will stop -- there's just nothing going to stop us, no matter how you cut it. i know some of the people in this room, nothing stop you. nothing stops you, i can tell you. we will never stop until our job is done. and then maybe we'll have to find something new. and e hope that's going to be soon, but we will succeed. we have results that are unbelievable. numbers that i heard two weeks
ago that i was shocked to hear. we're making tremendous progress. each year more than 70,000 precious american lives are lost to the opioid and drug crisis. and in my opinion, the number is much higher than that. to protect all americans, my administration declared the opioid epidemic a nationwide public health emergency, a big step. since then we have secured a record $6 3w-8 in new funding -- billion in new funding to combat the opioid crisis, and that's the most ever, and we're going for even bigger numbers this year. [applause] last year we provided $90 million to prevent youth substance abuse and i signed the support for patients and communities act, the largest
ever legislative effort to combat a single drug crisis in our nation's history. it is the largest ever. following the recommendation of my surgeon general and many others last year, the distribution of the overdose reversing drug naloxone, increased by over one million units. pretty amazing stuff. to expand access to treatment, recovery and other crucial activities and services all throughout our nation we have given opioid response grants to states totaling a record $2 billion. we are now allowing states to use medicaid funds to pay for residential treatment facilities and they're being built all over the country. in my first year in office the number of patients receiving
medication asassisted community health centers increased by 64%. no other president did that. no other president did that. we have no choice. we have no choice. [applause] we expanded the crib act to expand treatment for mothers and babies born physically dependent on opioids. for our nation's veterans we're improving pain management with over 43,000 viewers veterans on opioids since january 2017. think of that. 43,000. 23,000. [applause] by the way for the veterans, 45 years they have been trying to get it. as you know just recently i signed veterans choice where a veteran can go, and the wait is going to be days or weeks or
months, which it used to be they go out to see a private doctor, take immediate care. [applause] we pay for it. we take care of it. and it has been an incredible, it's new. it is incredible the difference it made. months ago i signed bipartisan criminal justice reform into law. [applause] among other critical changes, the first step act provides addiction treatment to americans in prison. and i'm pleased to report that in just four months, more than 16,000 inmates are participating in new drug treatment. [applause] and criminal justice reform, i have to say, people are getting out of prison and since our founding, they were having an
impossible time getting a job. but because our economy is doing so well, perhaps the best it has ever been in our history, best unemployment numbers in history, best everything, because of this -- [applause] because of this prisoners getting out are signing in, they're getting jobs and i can tell you that those employers, because i speak to a lot of them, are thrilled. they had no idea, i'm so proud of that. so the great economy has made it much easier. they get out, then they have to prove themselves. they never got a chance to prove themselves. now they proved themselves and they are doing a spectacular job. not all of them but there is nothing all about any of us. but they are doing a spectacular job. so i want to thank all of you. i want to thank congressman. i want to thank you for help me with that because you were very
instrumental. thank you very much. [applause] the department of labor is expanding federal efforts to help recovering americans find a great job in our soaring economy. as a result of our historic economic boom also we're lifts up all americans from all walks of life including those who have endured the pain of addiction. they're getting a second, third, some case as fourth chance. they're making it. they're making it. they have really something to live for. some of them say we love getting up in the morning. we love going to work. we love our job. if they don't like the job, because of what has happened, it is a miracle. all over the world they talk about what happened with our economy. if they don't like their job, they have choice also like the vets. they have choice. it is a choice going out finding a different job that they like better. big impact. last year a record 73% of the new jobs went to people who a