tv Varney Company FOX Business June 22, 2017 9:00am-12:01pm EDT
>> great panel, everybody. here is stuart, take it away. >> great panel, everybody. here is stuart, take it away. >> the president leaves the swamp and rallies ishe base. they like him and like his program. now, the push iso get it done. gooenmorning, everyone, quite a night in iowa. thousands turned out iso see ise thikm republican victories, he was in campaign mode. fowadi iso on ishe ewayhu, tasw s se criked. the trump based program. today half hourpthikm lie h in closhtam.owikedmeogh o bliitch mcconnell is going to outline the health care plid. ãaheblihtia is goi iso isoalate the democrats and obamacare
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y r support ishemselves financially and should not use -dlfare r3ikeda periods,fsit oeastpthive yearan stuart: well, that was the president, mr. trump in iikea o bst shrn's rrpthor immigrants for five years after they come hermp ye a cid'talocresirusrsselthore unless you've been here five years. rthepsidd e as t gohed rtpthikm pgxason what do you think? >> i isllnk i sos thowaysw. waubs set paying for five years.
make no mistake, it's the sues saj sauceage making process and i'm looking forward to what they've got. >> i hope you would say, too, it's better to get something done than nothing at all. nothing done at all. and we're left holding the bag. >> that's not an option, there are too many people all over my district, and the country, that cannot afford the premiums they're paying in order to get nothing, get 5, 6, $10,000 deductible, which means they'll never get a dime out of it because they don't have the deductible. so, i think we've got to get something. people are crying out for help. obamacare, it wasn't just rhetoric. it's done too much damage as you know, you've talked about it, done so much damage to the economy, to people's jobs, to people's health and their health care, yeah, there's some folks getting subsidies that are happy with that, but most
people got hurt badly in this adjustment to obamacare. and can i throw in one more thing? i think another thing that would help, doing a lot of thought, the president needs to appoint a special counsel to investigate the unsavory issues of comey, mueller and loretta lynch, a special counsel for them and i think more freedom to get the economy rolling like it needs to. stuart: at this point, i've got to congressman, but at this point that's a side bar issue. right now it's-- >> it's hamstringing his ability to get things done. they're keeping him strapped. getting some of the investigators, investigated. and that's the deep swamp, in fact turned into sewage. stuart: congressman, you're doing just fine. congressman louie gohmert
striking a hopeful note. that's how i'm going to end it. that's good. >> i am hopeful. stuart: if you're not careful, you'll move the stock market. thank you, we appreciate it. let's look at the stock market, where are we going to open? we're going to be down on three indicators. not much. that's a marginal drop. a couple of individual companies in the news. staples is going to be a winner. private equity firm sycamore partners in advanced talks to buy it. the stock is up. oracle will also be up. their cloud business is doing well. amazon, microsoft, they're doing well with the cloud business and so, too, is oracle. will you look at that? that's a big tech company and they're going to be up about 11%. how about american airlines? that company has received notice that qatar airways intends to make a quote, significant investment, maybe 10% in american airlines. look at it go up 5%. the price of oil is hovering
around the five-- 10 month low. $42 per barrel, lots of supply, 42 bucks. average nice for gasoline is 2.28. it hasn't moved much from yesterday, however, we can tell you that the cheapest states for gas are now south carolina, buck 95. oklahoma buck 99. and alabama on the edge. where is the cheapest gas in america? there are stations in oklahoma you can buy 1.99. ashley: the shape of the state looks like it's pointing. stuart: take that! wait a minute, explain to knee why we've got $42 a barrel oil, but the price of gas coming down, but it's slowing on the way down. ashley: it's slowing on the way down. the other way, gas surprises shoot sky high and immediate impact on the pump, but most analysts tell you, stu, gas
prices have fallen every day since june 2nd. the beginning of the summer driving season we could have the lowest, we do, in fact, right now in 12 years. there's a chance on fourth of july, gas will be cheaper in america than it was on christmas day and new years, which is almost unheard of. now, don't forget we've got summer blends as well. this is supposed to create less smog and more expensive. despite all of that your pre decks of half a dozen states with gas below $2. by the end of next week, i think it's going to happen because slowly, but surely they're not at the rate you'd like, but they're coming down. stuart: thank you for that prediction. ashley: just as you wrote it. stuart:. [laughter] >> we've detail with the gas prices and the president. how about this, democrats not happy after losing the georgia 6th district election. time ryan says our brand is worse than trump.
and democrats are pointing the finger at nancy pelosi. i think you'd have to be an idiot to think we could win the house with pelosi at the top. look who is here. charles hurt fox news contributor. >> good morning. stuart: they're gunning for-- forgive me for the expression, they're going after nancy pelosi. >> she's been at the helm of that party 24 years, almost a quarter of a century, three, four lifetimes when you think about politics. these people get chewed up and she's been through so many catastrophic losses. she is had one or two successful elections in terms of the party as a whole, but a lot of devastating losses. stuart: but, okay. they're going after here as the leader of the party. will some moderate democrats also reject the obstructionist position?
will some moderate democrats in the house and senate perhaps switch over and vote for health care reform and vote for tax cuts? >> there's no doubt, you know, you can't beat something with nothing and they have nothing except obstruction. and i think it's a real-- that that is the key question because if all they do is obstruct, and this is where i would disagree with you on the health care thing, if all democrats are doing is obstructing, then-- and republicans, because of that obstruction fail to get-- trump fails to get a health care plan through. in the next election, it's still about obamacare and whatever republicans come up with is not going to make everybody happy. it's going to be obamacare light in some fashion and still are still be dissatisfied on it. if they sit on the sidelines and do nothing, it's still obamacare. stuart: the question stands, do you think some moderate democrats will vote for health care reform. >> i think there's a chance,
but i think these people have such a blind hatred of donald trump, that it really could-- they could be so stupid that they wouldn't. stuart: okay, you're the guy who on the day that president-- donald trump announced for his candidacy, you said i'm with him. >> he had a perfect message, an anti-washington message. stuart: thank you very much indeed. >> thank you. stuart: later this hour, the story on former tennis champ boris becker. he earned $63 million in prize money and sponsorships and today it's gone, becker is broke. find out why in just a moment. and get this, george clooney, he and his partners selling their at thtequila brand for a billion dollars. we'll have the story. the fbi investigating a possible terror attack in flint, michigan. a canadian citizen stabbed a police officer in the neck. we'll have more on that in just a moment.
>> when the subject went up to the officer and stabbed him, he continued to exclaim allah and made a statement to the effect of you have killed people in syria, iraq, and afghanistan, and we are all going to die. thus, our determining, obviously, that we're going to investigate it as a terrorist act.
>> now, this does have an impact on the stock market. we're talking about the price of oil. $42 per barrel, it hasn't been this low since august of last year. news on tropical storm cindy, it has made landfall in louisiana. what have you got? >> as you can see from the radar, it's moving inland. the danger isn't over, sustained winds are down to 40 miles per hour which is pretty strong, but it's the rain and flooding rain up to 10 inches in some places and up to 20 inches are expected in some areas from the coast all the
way into tennessee they're concerned about this storm that's bringing, as you can see, just a lot of slosh and wind and rain. we've had one fatality, a 10-year-old boy on a beach in alabama, was actually hit by a log that was brought in by a strong wave, by the storm and happened to be in the wrong place. stuart: what a terrible story. ashley: it's beginning to bring problems. stuart: a stabbing of a police officer at an airport in michigan yesterday is investigated as an act of terror. the alleged attacker is a canadian citizen yelled alu okay -- allahu akbar and zuhdi jasser is with us. this guy goes to the airport, he eats in the airport restaurant, he leaves to the restroom, goes to the bathroom and emerges from the bathroom with a 12-inch knife and steals up behind a police officer and
stabs him almost killed him. what got into this guy, motivated this guy. >> it's the same thing, stuart, radical jihadism, islamism, he says you're kyling killing people in syria and iraq and at the end he says we're all going to die. you have a canadian citizen home grown, from tunisia, similar to last summer, seems it as end of time scenario and wants to continue in this, you know, holy month of-- [inaudible] it's possible in ramadan.
is this end of days talked about in iran. >> it's not the interpretation my family or any of us that are pro western, pro american use, but it is the islamist interpretation of those in the caliphate. and we have to realize they're not lone wolves. they're bringing back islamic states and the caliphate and part of this war. al-jazeera putting out stories saying that americans are killing those in syria and afghanistan. if we're going to have a strategy to stop brussels and london and now in flint, we need to connect the dots. and cut by american airlines and not saying the propaganda
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themselves at him at the same time and the man who amassed 60 million in earnings, blown through the money and gone through a lot of women. stuart: tell me the broom closet story. ashley: one incident his pregnant wife is waiting to give birth and he's having sex with someone in a closet and gets pregnant and has a love child. man known as boom-boom on the court for his serve has now become-- [inaudible]
consumption is down during the year. consumption would be up. >> george clooney, like colonel sanders decided to do something with his hobby and he loved tequila and decided to go public with it. stuart: thank you very much, john, stay with us for the opening bell which is coming up, the dow is going up just a little bit. back in a second. all right. there you have it, and a slight gain for the shth ma, when it opens in four minutes' time. way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced. our senses awake. our hearts racing as one. i know this is sudden, but they say...if you love something set it free. see you around, giulia
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>> all right. ten seconds to go and the opening bell will ring on wall street. we're expecting an at the time flat opening bell, opening trade i should say. we're off and running and off we go. where are we going, down 2 points, 4 points, 3 points. dead flat. dow 30 some of them not open yet, but an even match between green up and red down. one stock in particular, well, several that's going to move, how about staples, it's got a 5% gain from the get-go. the private equity firm of sycamore partners reportedly in talks to buy it. let's take a look at the big tech names. where are they? mostly down. facebook, microsoft, look at the level, $1002 per share. apple down at 145. oracle way up. a 11%--
that's an all time high, by the way, 11% gain. why? its cloud business is doing well. it's the cloud business that's helped amazon and microsoft and now it's clearly helping oracle. big company, up 11%. american airlines is higher, too. they've received some kind of notice from qatar airways, they're going to make an investment in american airlines, maybe 10%. and the stock is up 3% on that news. oil, a 10-month low, $32 per barrel. who is with us on a thursday morning to cover the market action, ashley webster, john layfield and scott martin. right now, senate leadership meeting behind closed doors on health care. no market impact yet, but if there is news that they're making real progress and they're going to get something done, scott martin, i think that could lift the market. what say you? >> definitely, stuart. we've had this months of lull period here where nothing has
been done. in fact, i would argue that the opposition in the house and certainly the senate has only risen. so, seeing some progress on health care here, with the notion that the president and paul ryan and others worked with the senate to get something in there for everyone is a great sign for the next big steps for this country, which is tax reform which needs to happen by the end of the year. stuart: john, would you agree with this? my premise is, if we see real progress in the immediate future on health care, just getting something done, i don't care what is done, getting something done, that's a shot in the arm for the market. >> absolutely. i 100% agree with the premise. unfortunately, i don't think it's going to happen. they've had seven years and they campaigned they'd have obamacare on repeal on day one. they all lied and i still-- i don't believe that the market believes them. they shouldn't believe them. these guys have been wrong and lied about everything they said they'd get it done.
stuart: we might get small dribs and drabs. the meeting started and we're expecting to see some senators emerge and address the cameras with some news announcement. we're following that, obviously. the price of oil still at a 10-month low. john, i say that the market, stock market, has a huge problem if oil drops below $40 a barrel. it's at 42 now. >> yeah, i think we do. and i think there's a basis for this. look, you have-- saudi used to be the swing producer and now it's shell oil, specifically in west texas and the bakken formation. and you see some of that come off line. you can't trust opec and the quotas. the bakken and shale in west texas when they pull that supply off line, that will keep it above $40 a barrel. stuart: another story on uber. a board member has walked away from the job. his name is bill gurley.
he's the guy who had a lot to do with getting rid of travis kalanick. that's kalanick right there-- no, i'm sorry. that's not. they're talking about a possible successor at the top of uber. one name mentioned is chershery sandbe sandberg. what do you say about that, that would surely revitalize the business? >> it would. i think being female is big in the connotations that it has around it. would she want the job? this is a herculean task to ask anybody to take offer the reins. what's the compensation incentive. in silicon valley, what you get, you get salary, but you get stock. to me the valuation of this company at what, $70 billion is way too high. if they compensate her with a bunch of stock which in my
opinion is going down in value with all the of these controversies and market share they're losing to competitors. i'm not sure it's a good deal for anyone. stuart: do you think that uber can be saved from itself? >> sure, i can. i think you're going to have some problems, especially in europe, they talk about they need to be regulated. i think that sharyl is the right person, look what she did at google and facebook. it's up to her whether she wants to monumental challenge. you don't want to be mike mar marisa mayer, with the bands playing that you're going to save the company. i think that's on sharyl's mind. ashley: i think that it's in a better place than yahoo! when mayer took over. i see uber cars by the hundreds it seems like on every corner. somebody like sheryl sandberg can come in and take over, they need a coo, and ceo. if they address the market share, i think there's good
potential for uber. stuart: okay, here is another story, dancing around the edge of it. we're talking about amazon now, yes, they did buy whole foods and with that purchase, they really set the cat amongst the pidgeons in the grocery business. so there's a question overhanging the market now, is amazon too big, too powerful? should it be broken up? i don't know how you'd break it up, but that's the story that's circulating around the edges of the financial world. what do you say, john, break up amazon? >> i don't know if you break it up, but if teddy roosevelt was president, there'd already be monopoly charges against this company. i don't know how it's not main seem press. when they bought whole foods, you had cvs and others down because they thought they would get into pharmaceuticals as well. 8600 retail stores are aligned to close this year. 6800 is what closed in the height of the recession in 2008 and amazon, what they've done
in the last 20 years at a 25% growth rate they'll do gagain in the next three. i think that monopoly talk is well justified. stuart: what do you think about reining in some of the big techs, amazon in particular? >> stuart, i don't think this is your father's monopoly and teddy roosevelt, john, i love the way you say roosevelt. speaking of monopolies of yesteryear, what happened, they had price monopolies. amazon is kind of doing the opposite. they're creating more efficiencies for consumers and lowering prices. to me, let them do it, they're helping out consumers. stuart: i'm with you, but i feel like when you accumulate that level of power and the five big tech companies, ashley, they've got enormous amount of powers. ashley: and i bet it comes from
europe, they hate every big american company. stuart: you'd have a political response to the accumulation of power. ashley: right. stuart: and what form that response would take, i think it's coming. this morning, president trump hosts a tech summit. it's all about increasing use of drones and universal broadband. i'm picking up on universal broadband, i'm not sure what it is, scott. is this a new plan to give everybody internet broadband just like that, like an obama phone or something? >> yeah, free internet for all. maybe some hyper loops in there, the tech stuff that kids are into. it goes to speak to this whole mantra of the administration, which is reaching out to the world leaders, and reaching out to at least the world corporate leaders, hey, what can we do for you? i think this is a good mode of communication to open with respect to what we've had going on the prior eight years where it was always you didn't build that. we have a connection between
d.c. and the corporate environment that will flourish growth. stuart: starbucks, as we've told you on the program they're planning to hire 2500 asylum seekers in europe. john, are they getting political again? >> they are and they have for some time. and you look at what happened with kevin plank, i think has done wonderful job with under amour, a stocky owned by the way. because he got political, he almost lost some key endorsers. when you get political in the world today, half of the world is going to hate your stand. it's tricky to do that. stuart: check the big board, almost ten minutes into the trading session this thursday morning and we are down 7 points. go nowhere, pretty flat market thus far. home prices, i mean, they're riding high, however, home ownership is at a 50-year low, believe it or not. now, five years ago to the day, donald trump then donald trump put out a tweet, june 22nd, june 23rd.
june 22nd five years ago exactly. he said now is the time to buy real estate. he said that five years ago. i guess he got it right. ashley: i guess so, after he'd gone through the financial crisis and now look at the median price of home, highest on record. stuart: our market watchers don't want to hear this, but an alternative investment from stocks would be the real estate market. are you dabbling, scott market-- scott. >> you can call me scotty market, that's fine, that's my twitter. you've been following me, which is great. the only comment i would say about your notion there about versus stocks or bonds, remember, the home is still i illiquid market. it's relatively illiquid, it's a great alternative asset, but know the time to sell is not something you determine. it depends who the buyer is e all right, thursday morning, 9:40 eastern. it's time for me to say goodbye to john and scott. thank you, gentlemen,
appreciate you being with us. now, this is, as i said, thursday morning, dead flat market we're down 3 points. look at the level. 21,400, not bad. a new report on former attorney general eric holder might be thinking about challenging president trump in 2020. yes, we're on that story. and senate republicans making their health care plan public today, a little later today. question, does mitch mcconnell have the votes? we'll talk to a capitol hill insider on that next. ♪
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♪ whoa that's amazing... hey, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. type in your idea. select from designs tailored just for you and publish your site with just a few clicks-even from your... ...mobile phone. the internet is waiting start for free today at godaddy. >> okay. a flat market, there you have it. down 4 points. hear this, snapchat going on a buying spree, the stock is
still at 17, but a buying spree, what are they buying, nicole. nicole: they're buying generally. don't forget they had the snap stories and they were copied by instagram and facebook and the like. snap's got to keep up in this social space. zenly is one way to do it. so, it cost them roughly between 250, 350 million dollars. you want to know where your friends are? this is all about gps. you can look on the map and it's about social networking and you can see where your friends are on the map. you can meet up somewhere. so, this is just another expansion for them. there were 4 million downloads of this paris-based start-up, also, so it's very popular. it's just one way for snap to try and keep up with some of the other big guys and you see, we know that the stock is just above that ipo price at $17. so, snap is just trying to bring in something new. stuart: nicole, if i don't want my friends to know where i am,
can i turn it off? >> i would imagine, yes. i would go with yes. stuart: okay. that's useful. >> it has to be off. you don't want everybody to know where you are all the time, stuart. stuart: well said, nicole, well said indeed. president obama's attorney general eric holder considering a run in 2020? who says? >> well, he does, but not in so many words. he does say he wants to become, quote, more visible, possibly a presidential run in 2020. had this to say in part to yahoo! news. i have a certain status as the former attorney general, he says, so i want to use whatever skills i have, whatever notoriety to oppose things at the end of the day are bad for the country. s' sounding presidential. earlier he helped promote a california bill that would extent sanctuary policies in california. we know where he stands on issues and is directly opposed to president donald trump.
stuart: this is true. ashley: in case you weren't aware. stuart: i'm moving onto health care. senate republicans are at this hour meeting behind closed doors. come in, former capitol hill staffer, david schmick. he was in the room in the 1980's when tax reform was hammered out in the reagan administration. so my question, david, what's going on in that room right now where they're trying to hammer out health care reform? >> i think the best way to look at it, what's in mitch mcconnell's brain right now? first of all, he's probably three votes short, that's where they were thinking last night. that doesn't count the two other senators from maine and alaska who aren't going to vote for this. so, but there's a lot of bluffing going on right now. i saw one republican senator saying i'm shocked that the staffers are writing legislation. i mean, hello. i mean, it's like claude rains in cast is a --
casa blanca, saying i'm surprised there is gambling going on. the and they say it's mean and heartless and it's easier for traditional republicans to vote for the bill. there's a lot of play-acting. some of it will be on opioid funding, i'm sure a little bit more extension of the medicaid, but mitch mcconnell is one thing, he is a very knowledgeable about his caucus. so, if you hear later this morning that he's going to call a vote and that's what he's saying, a vote for next week, that means only he's within three votes. one other thing, that he has the ultimate bluff, too, with a lot of conservative skeptics of this bill. he is saying privately that if they don't get the vote now, they will come back after the recess, but they're just going
to come back and this sounds like technical talk, regular order, which means they're going to open it up to the senate, so they'll pass the popular things that both democrats and republicans want and then it will just be chaos. and frankly, you know, if the republicans had said to the democrats in january, this is your-- obamacare is your problem, fix it. i think they would be taking all the blame, but it's gone too far now and i think, so a lot of conservatives are going to say i don't want to see this opened up to the senate because who knows what you get. stuart: look at the other side of the coin for a second. the democrats are divided. there's some harsh criticism of nancy pelosi, some moderate republicans are not happy with the leadership, especially the left leadership. is it possible that this unhappiness with nancy pelosi and charles schumer could result in some moderate democrats in the house and in the senate voting for the republican health care plan?
in other words, ending obstruction and brecking ranks and some vote for the health plan. >> i think on tax reform that's very, very possible at this point. we're already seeing a lot of behind of scenes discussions that weren't there before the georgia election to be frank. i think on obamacare it's going to be tough except for one or two votes in the senate. senator manchin from west virginia and that will be a little tougher because obamacare is such a-- in the democratic party is such a holy document, that it's tough to go against that. stuart: you see, david, we have an audience of investors, they don't care about the nitty-gritty in the parliamentary maneuvering. they want to know are we going to get a done deal on health care and tax reform and i'm reading between the lines and you're saying, yes, we're going to get both. >> i think it's better than
50-50 on health care and i think it's 100% on tax reform, i really do. the house already has their plans in place in the event that obamacare-- in the event that the republican elk had -- health care plan does not get-- it's going to be slimmed down, but a lot of things that investors want and there is no way the republicans can move into 2018 without a tax reform bill and the health care, you know, may get messy, but something will happen there, it just may be very, very messy, but on tax reform, that's a done deal and even if it's slimmed down. stuart: that's very interesting. you could move the market with a statement like that, young man. >> what can i say? >> what can you say, david schmick, great stuff. see you again. thank you. check that market, dead flat, going nowhere. lots of red, some green, down a
you're looking at a all-time high for oracle. profits are growing. ralph ellison-- larry ellison, i'm sorry, the guy who founded it, big-time shareholder, his net worth overnight just went up $5 billion. he's now worth 62.3 billion dollars. ashley: as he was sleeping. stuart: as you were sleeping. [laughter]. repercussions, boys. look at chinese company webo. more censorship there. and they were asked to take down video in violation of state rules. it's down 9%. colorado is-- guns in colorado classrooms, some of them. that's interesting. the story. ashley: some of the districts now are offering a service whereby teachers and administrators within schools
becoming armed first responders. and this was brought about after that terrible massacre at sandy hook elementary in newtown, connecticut in 2012. how could that situation been handled differently. the teachers, if they volunteer can go through a three-day rigorous course, they learn what to do not only for medical help, but to end the threat. and critics say you can't bring in weapons for everyone, but in colorado you can volunteer. but there's a pretty big demand for those in the school district, yes, i'd like to be a volunte volunteer armed first responder and picked up in texas, oklahoma, considering arming teachers in the event a shooter comes in. stuart: quite a story. thanks, ashley. ashley: sure. stuart: democrats in revolt. the target, nancy pelosi, she's in danger here. my take on that top of the hour.
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stuart: it's a spectacle. it's not pretty. chaos among democrats and the country is paying the price. look at obamacare. yes it is collapsing, and it is collapsing because the country stuck the country with an unworkable system. they will not lift a finger to fix their mess. instead, they plan to block any and all reform. it is a silly political game. and so is their ridiculous claim the president should be impeached. we pay the price for this nonsense. now some democrats have had enough. some are in open revolt against their failing leadership. they have taken aim at nancy pelosi after the stunning loss in georgia. congressman tim ryan says, our brand is worse than trump. and he said with pelosi in charge, the democrats would never retake the house. last night in iowa a
hard-charging president trump wowed the crowd with a campaign style speech. he railed against be instructionist democrats the crowd lustily cheered. fresh from four straight elections in november, wins in each of them, president demonstrated his supporters are still with him. could it be we're about to see some real progress on the growth agenda? moderate democrats are happy with obstructionist leaders. president's program is popular. maybe the tide is beginning to turn. maybe democrats will vote with the republicans on obamacare and certainly on tax reform. maybe. the second hour of "varney & company" is about to begin. ♪ stuart: 10:00 eastern time with the dow down a point.
what have we got? ashley: 3.90%. the only problem there are not many homes for sale right now. the inventory is very low. prices have been going up. yes, we have low mortgage rates, 3.9%. stuart: i'll take it. you remember yesterday we reported that the median price of selling price for homes existing homes -- ashley: 252,800. stuart: $252,800. ashley: highest level ever recorded in the u.s. stuart: mortgage rates going down 3.9%. ashley: yeah. stuart: housing is interesting market. we'll have more in a second. big board showing no response to mortgage rates or virtually anything else at this moment. i think market is waiting for progress on health care reform which is being discussed in congress. we're down .5, that is not a movement. that is a dead flat market, let's be honest here.
we check them every single day because these are the movers and shakers of america's stock market, the big technology companies, all of them down a little today. facebook, amazon, microsoft, alphabet, apple, all down a fraction. the price of oil has had an impact on the stock market. no impact today. it is holding $42 per barrel. that is still a 10-month low. individual stocks making the news. american airlines received notice qatar airways may buy a significant investment, maybe 10%. american airlines is up 2%. that is the stock. next hour president trump will host a tech summit at the white house. drones and broadband are going to be the focus. joining us now commerce secretary wilbur ross. good to have you back on the program again. >> good to be on again. stuart: the president is talking about universal broadband. can you tell us what that means?
some people think it is broadband for free for everybody. surely this is not what that is about? >> i think it is about extending broadband into rural communities and underserve markets. we made a step toward that earlier this year, we had the first part of the commerce department announce its public/private partnership with at&t to provide a nationwide 9/11 service include -- public/private partship, we contributed as government spectrum and at&t contributed $40 billion in cash. stuart: so this is an expansion of that premise, in other words, a big expansion. will taxpayer money be involved? >> well, this is right now, what we're talking about is trying to figure out the feasibility, what's the best way to do it. the fundamental problem with
expanding it into very rural areas is the low density creates a real business model problem. so we're trying to figure out how to address that. there are perhaps new technologies coming that can make the low density market as little more affordable. stuart: our viewers, sir, have been following the progress of amazon on the other huge technology companies. amazon especially and there is some talk in the marketplace trying to rein in the boyar of amazon because it is bursting into all kinds of industries and accumulating massive power. any thoughts, not on the breaks upof amazon, but on reining it in and reining in the big tech companies. >> i haven't seen anything that amazon has done that would qualify remotely for antitrust consideration. stuart: right. >> and that really would be the only reason for doing it.
take their acquisition of whole foods. i think it is a very clever move to marry together a very good, high-quality niche retailer with the very broad brush approach of marketing everything that ham son has done so well. but surely don't see any antitrust implications in that. stuart: could they be some kind of a political response to the you power that they have accumulated? >> well, we're in a very populist world, so you never know what the response to anything will be but i don't believe that amazon has been using predatory pricing or any such thing to compete unfairly. it seems to me what america is all about, is competing fairly, and if you do, if you can compete better than some other companies, surely you can get big and surely can get powerful. so i don't think big or powerful
in and of themselves are that big of a problem. i think the real problem is, if they begin to abuse whatever power they have. stuart: okay, mr. secretary, thank you very much for joining us this morning. we do always appreciate it. thank you. >> good to be on. stuart: yes, sir. now this, during his rally in iowa last night president trump called for stricter limits on immigrants receiving welfare. roll tape. >> the time has come for new immigration rules which say that those seeking admission into our country must be able to support themselves financially, and should not use welfare for a period of at least five years. [applause] the. stuart: let me repeat that you come to this country, you're an immigrant, you can't take welfare for at least five years after you arrive. congressman marcia blackburn with us today, republican, state of tennessee, you're reaction to what the president just flipped
out there last night in the middle of his speech? >> yes. what he is saying, we welcome those who wish our country well, and want to come here to be a part of prosperity, making a great life. but, what we don't want is to have the welfare system be a burden to hard-working taxpayers. he is being at thatting about fairness. he is talking about equity. actually, stuart, what he is doing, building on a clinton era, a 1996 welfare reform law. stuart: he is also saying, i believe, that you can't come here in the first place unless you can show that you have got enough money to sustain yourself for five years. >> right. stuart: so on the front end as well as the back end of the restrictions. >> that is exactly right. as you know individuals who choose to emigrate here, according to the state department website, be able to come here with a sponsor who is
a family member, or a relative, or someone who is going to help them, walk with them through that immigration process. stuart: real fast, you know what's going on in the senate right now. mitch mcconnell outlining the details of the health care plan. you're on the inside of this. do you see signs that the republicans and the moderates and conservatives, are they prepared at this point to come together, get an agreement and get it done? >> i think you're going to see republicans come together and get it done. the house republicans sent the senate a great starting place, a good, solid bill. we know they worked off of our bill. we are, as you, and your viewers finding out the details now. we know that it is important to put in place a process so that our constituents know that obamacare is coming to an end. the affordable care act will cease to exist. and they are no longer subject
to those mandates and those penalties. we want everyone to have access to affordable health care, and use insurance they buy and pay for it. stuart: mitch mcconnell will make announcement at 11:00 eastern time this morning what is in the republican plan. >> that's right. stuart: we'll wait to see if it is then going to pass. marsha, thanks for joining us. >> good to be with you. stuart: former attorney general eric holder considering a run for presidency in 2020. look who is here, lawrence jones, host of "the blaze." what do you make of that? mr. holder says he does not want to exploit his prominence, but he has a name and wants to, earth some influence. do you think he is running for the presidency. >> this is a big mistake, brother. good to be in studio with you. ashley: yeah. >> good to be in studio. this is a problem. first of all he is going to have to do back because when he was attorney general he said he
wasn't political. we always knew he was political the entire time. this confirms what we always thought about eric holder. number two, i'm not sure he has the political capital to run for such an office. he doesn't have the charisma. he is not really a policy guy. it seems like he is more of an activist. and so maybe he is the guy to lead the resistance but he is not the guy to run for president. stuart: that's interesting. lawrence, welcome back. ashley: he says he has the notoriety, i thought if someone is notorious that is not a good thing. stuart: there is absence of leadership among the democrats. >> that's true. stuart: and imagine dragons, that's the band, best known for this song, here it is, "radioactive." that is the name of the song i think. releasing a new album tomorrow, they join us next, on this program, can you believe it? ashley: magic dragons.
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stuart: there is a cable operator, altis, usa. it is about to go ipo and start trading. altis is subsidiary of a european telecommunications company. you remember cablevision? that is a part of ault tis. nicole on floor of new york stock exchange. you will tell me when they are trading. >> very close. 31.60 is where it is look. it was priced at $30 a share.
this is a huge cable company. this is in the telecom realm. it is the biggest largest telecom offering since the year 2000. it is the second largest ipo of the year behind snapchat. as you noted under that, the umbrella is the u.s. group. that includes new york-based cablevision systems as well as sudden link communication systems. right now it is looking to the upside. it has had very hot demand. i'm looking over my shoulder because i'm willing to bet within a minute, it is going to open. 31.60 where it was looking. priced at $30 a share. stuart: i wonder what they will do about cord-cutters. wheel see what the stock price does. nicole, we'll get the price as soon as it comes in. everyone, i want you to listen to this song. it is called, "believer." the first single from imagine dragons' new album.
the alum is evolved. the song topped billboard rock singles chatters for more than three months. the group joins us from europe where they're playing music festivals. gent machine, welcome to the program. let me get right at it, apple is trying to lower the amount of money it pays record labels for streaming music. does that mean you are boeing to get less from apple for this album? [laughter] >> i don't think it is that simple. >> i don't know. i think the money to be made right now in the industry is really touring, and, yeah, i don't know. we live in a really weird, changing evolving, no pun intending world where every month the music industry is a completely different beast than it was prior. as far as semantics, as far as the numbers go, we leave that to our management. we hardly concern ourself with that we're more about getting our mice i can out to as many people playing live around the world. stuart: wait a minute. wait, wait.
this is a financial program. our viewers, all of them are investors. they're interested in money. are you telling me, sir, that you're not that interested in money? you are an artist? >> no, i mean, we are but i'm just saying, we are but with that being said, everybody want to you know, be successful in their career. i'm just saying as of right now the money is not in sales. it is not in the consumption. it is like pennies for thousands and thousands of streeps. so -- it will be .001 more pennies. >> thinking of selling an album that is purely itself going to get you lots and lots of return to think about it in this day and age. like everything is advertisement to get the audience to the shows. >> when our record, night vision at one point was the number one streamed album in the world, and that was, maybe 5% of our income as a band.
it was so, it is, the money is not being made in streaming and consumption. the money is made on touring being on the road. stuart: this is revelation to our viewers. >> we're getting screwed either way. stuart: this is revelation to our viewers. it is great to hear this. by the way, you can't see this, gentlemen, on right-hand side of the screen, altice, which is a cable operator gone ipo. got its first trade. the stock is up a buck 86. 6% from its operating price. want to get back to imagine dragons. much difficult question, do you sometimes bet a little worried when you're touring and performing in europe, bearing in mind some of the terror attacks? what is the atmosphere around you? >> honestly i think, you know, the worst thing that we could do is change the way that we're touring the world as artists
because terrorists are trying to put fear into musicians hearts. what we have done, we step up our security to insure that our fans are safe. we have put more money into that. but as far as will we play the same cities, will we tour just as vigorously? yes, maybe even more so to make a point. we will not have anybody put fear into our hearts ever. this career, music, will not, you know, we will not -- >> music is about bringing people together. stuart: well-said. >> expressing yourself. stuart: well-said, gentlemen. that is really good to hear that gentlemen. thank you very much for appearing on the program today. imagine dragons. the album is out. it is called "evolve." i knew that song actually i heard it. i heard it and i like it. good luck on your tour, guys. see you again soon. >> thank you. >> all the best. stuart: just moments ago we had altice.
it started trading. nicole tell me about the opening of that trade. >> it is exciting. a huge ipo, the largest telecom april pie since 2000. second largest of the year. it is 31.90, breaking ground moments before the open. 31.60, is that is exactly where it opened. that was above the ipo price. they saw demand for this company, $1.9 billion. it is to the upside. in addition to being cable, telecom and other names tailing.
they have already. patrick due hey, what is the name? >> draghi. stuart: he is behind the move into america, behind altice. he has very big plans. this is very big ipo. very important in the cable industry. tv industry generally. open for business 6% above the offering price. okay, government, government waste. at its finest. we have a new report. came to the pentagon. wasted $28 million on uniforms for afghan soldiers. ashley, give me grim details. ashley: used a private contractor, says the government, trying to, camouflage
essentially unsuited to afghanistan. what you want to do with camouflage not be seen. it did the obvious, made you seen. $30 million to buy a patent to make the troops obvious in the environment than they would be wearing something else. just another example. say it is private contractor, you blah, blah. big mistake. stuart: lawrence, we constantly rail against government waste and government bureaucracy. but it is the nature of government to be bureaucratic. that in itself is a waste of money, not itself. >> i love a strong military. take as military strategy as well. stuart: exasperating. >> my money. $30 million. come on. stuart: you contributed
$30 million? lawrence jones, everyone. i have to talk about george clooney for a second. he made a fortune. he sold his tequila brand. he soiled it for a billion? ashley: 700 billion with promise of 300 million more if it continues to sell way it is. began like private collection of tequilas meant for friends and family. it was like a hob i b. turn -- hobby. rande gerber, husband of cindy crawford and michael melvin, the or the guy, it took off, diageo came in and said, yeah, we like this. clooney and gang will have big part running the company. getting big money but still have a hand in it. stuart: throw this to lawrence
jones with us despite massive wealth. consumption of alcohol beverage, in all its forms, wine, beer, spirits, dropped 1.2% last year. you're from texas. >> i like a good drink. i drink responsibly. i like a good drink. my concern with this clooney getting involved is -- my concern with this is he going to give some money to all these people. he is a liberal, seems like he is dirty capitalist like the rest of us. giving money away. stuart: are you going to pay tax on it? >> pay tax. redistribution. allocate. let's see what he is going to do with all that money. stuart: lawrence, good one. welcome to the show. here is another one for you, kays i don't see among democrats. democrats in revolt against nancy pelosi because in part
>> if we went and got the single greatest health care plan in the history of the world, we would not get one democrat vote because they're obstructionists. they're obstructionists. we wouldn't get one democrat. [applause] if we came to you and said, here's your plan, you're going to have the greatest plan in history. and you're going to pay nothing. they will vote against it, folks.
stuart: i'm not sure he is right on that one. no, no, i think you get a couple -- >> so right. stuart: that was the president last night. big rally in iowa. call out the democrats. put me on camera. democrats are obstructionists. as you heard, he said none of them would ever vote for a single health care bill that i put forward. a lot of democrats don't force nancy pelosi out. that would be very bad for republican party. please let crying chuck stay. lawrence that is red meat teasing. >> he is right. he wants them to stay in power, he realizing they're leading resistance right now. if they continue down this road he will be reelected. this whole russia stuff, after comey came to the capitol, he made himself look bad i would
say, he said the president was never investigated. was never under investigation. essentially all the president wanted him to do was tell the american people he was not under investigation. stuart: jeh johnson backed him up on that yesterday. >> exactly. we now know this was all a plan from the left to destroy the president, if they can continue this, they will just push them all the way to reelection. stuart: what do you think about the president's tweet, hopes nancy pelosi stays? ashley: crying chuck. he is absolutely right. this is exactly what the republicans want. >> nancy p. he didn't say pelosi. he said nancy p. stuart: in campaign mode after iowa last night. ashley: pretty effective let's be honest. stuart: democrats have lost 63 seats in congress during nancy pelosi's tenure as leader of the house. >> they're 0-5, in special elections. stuart: all true, all true. lawrence, stay there for a second.
president trump, as you saw a moment ago, took the stage in iowa. it was campaign style speech. among loyal supporters, he was very popular. he applauded the georgia republican karen handel on their congressional victory. come on in now, deputy director of the trump campaign, david bossie. david, long time no see. >> thanks for having me. stuart: i think the president has got the wind in his sails. i think he has got some momentum. but i think he desperately needs a legislative win. what say you? >> i think, he is going to get those legislative victories. you know, the congress is bolstered by the results of georgia 6. they rejected, microcosm district. georgia 6 is microcosm of america, is a bausch ban atlanta district and those voters sent a republican up to washington to help the republican with, to help the president with his reform agenda.
they recognized what you guys were just talking about. that the democrats have nothing to offer but obstruction. they have no agenda for the american people on health care, taxes, economy, jobs. that is where the griping comes in. that is where the fingerpointing comes in, in their loss on tuesday evening. that is why you see nancy pelosi's name being, nancy p we'll start calling her. president's use of twitter, use of social media platforms is tremendous in this regard. he is now going to drive the narrative all day about nancy p. ashley: now, nancy p. stuart: after the georgia election, the carolina, election, speech last night in iowa, big crowd, enthusiastic crowd, he has wind at his sails. the man has momentum. he has to have a win.
it has to be a big win and has to come soon. get it on health care. >> we'll get it on health care. the senate is going, we'll see here today, i believe the senate majority leader will come out today with his plan for the senate health care bill. that bill, he is not doing that. he is not doing that because a bill not going to match up mostly with the republican house bill. it will go back and forth between the house and senate a little bit. then the president is going to sign that bill in the next few weeks. i'm excited about that. then we get to move on to real tax reform policy and agenda. that it is going to drive american, the american economy forward and bring back american jobs. stuart: in my opinion, the republican party must get health care done. i don't care what's in the bill, it is, i'm serious actually. he needs a win. you have got to get this done.
i don't care about details. i don't care who is in -- i honestly don't care. you got to get it done. >> we should have you in the senate, stuart. i think that is exactly right. that is the, look, we want a good, we want good, solid policy that is going to make the obamacare failure, that is imploding on itself every day. anthem just announced indiana and wisconsin, i believe they're pulling out for 2018. this obamacare failure, this experiment is it failing at every turn. so, we need a strong health care bill, and president trump is really bringing through the house and senate, a bill that is going to save america's health care system. but i do agree with you, we don't have to have it perfect on day one. we have to get a bill through and then see how it is working and make it better over time. stuart: can you imagine if by say october of this year, we got a health care plan.
we've got a tax cut plan. can you imagine the shift in politics, the shift in attitudes towards politicians, towards president trump and can you imagine the shift on the stock market? >> okay. i believe, i believe average american is going to be, very, very happy with president trump. that is a fact. if we get health care through, if we have a tax reform bill through, and stock market continue its current trends, it is going to be off the charts. but, i do go back to what you started with, which is this permanent obstruction campaign. those folks very you loud people, there is not a lot of people. a lot of loud people that are bringing forward this permanent obstruction both in the house and the senate. that is what we need to deal with. that is what we need to defeat. that is what i'm working on in 2018. stuart: surely they can hide them off. moderate democrats are not happy
with their leftist leadership. surely that implies some moderate democrats in the house and some in the senate would actually join the republicans with a moderate tax cut and a moderate health care bill. >> that is their only play. first of all, when you say moderate democrats in the house and senate, that's, number is getting very small over the years. there is very few of those folks left in the democratic conference. they have driven those people out. those blue dogs have been beaten in their own, in democrat primaries. you've seen those districts change. and makeup of the democrat party is very much part of, parcel of the permanent obstruction campaign that is run by the left, the hard-core left of, you know of crying chuck schumer and nancy p. stuart: we complain a lot, david, but no place i would
rather be than at center of action in politics an money in this year, 2017. this is because it is wonderful stuff. david bossie, i can sense your enthose a, we love it. thank you very much for joining us. >> thanks for having me. stuart: more bads news for uber. one of the company's earliest investors is stepping down from the board of directors. it is that man there. that is mr. gurley. ashley: bill gurley, benchmark partner, one of the very early venture capitalists into uber. he was reportedly the leading force to get travis kalanick out. stuart: so now, they are really leaderless, lawrence. you're an outsider to this. you're a political kind of guy. i'm throwing a corporate news -- >> i love money. stuart: you're here at home on this program. do you think that, can a company like uber get over some very negative publicity? >> i'm a supporter of uber. i prefer --
stuart: i use it. >> i prefer it over lyft. i think they can but i think it is time to shift the strategy. there was emphasis on the consumer for so much that they had a lot of issue with the drivers. drivers weren't getting tips. people like lyft starting to implement tips. then they ventured off and started uber eat, to focus on food business. there wasn't really a focus on the people that serve the consumers, and so now uber has to folk consist on those drivers if they can do that, i think they will still dominate the market because uber is by far the greatest -- stuart: they have over 70% of that market, ride share market, over 70%? up there. let's hope they can turn it around. i use that service and a lot of other people around the world. i want to check the markets. the dow is down six points. tell me about oil because that is moving the market recently.
ashley: it has but it recovered if you like. still 42 bucks. there were concerns this would slip down into the 39-dollar territory. the problem has been oversupply of the we know that stu, we're swimming in it. we say it every day and every week and it is true. the opec cuts has done absolutely nothing because production in the u.s. is up 8% at the same time. opec's sway in the world is diminished. stuart: i bet a texan didn't know this, frackers of texas changed the world oil market and done enormous strides. >> you have donald trump's supporting us. president obama's epa tried to prevent fracking in texas. the president is behind the drilling. we'll make some money. stuart: frack on. [laughter] here is what is coming up. feels like every day there is a new terror attack.
latest fbi investigating stabbing of a police officer at the airport in flint, michigan. it is terrorism. the man who interrogated khalid sheikh mohammed, the hand who carried out the 9/11 attacks, the man who interrogated him is next. one group in colorado propose as ban on kids 13 and under buying smartphones. the founder of that group is next. ♪
ashley: early in the show we spoke with secretary of commerce wilbur ross on the growth of amazon. here is what he had to say about that. roll tape. stuart: any thoughts, not on the breakup of amazon, but on reining it in, and reining in the big tech companies? >> we're in a very populist world, so you never know what the response to anything will be, but i don't believe that amazon has been using predatory pricing or any such thing to compete unfairly and it seems to
stuart: here is breaking news. senate republicans releasing their health care plan. adam shapiro on capitol hill. they just released it. i know it's a complicated document. can you pick out a couple highlights. reporter: first call they have only posted first page of entire legislation on the website. this may have been an accident. because they are still meeting just behind me over near the senate chamber briefing senators about the details. what they do tell us title one, call it elimination, that is key word, elimination of limitation of recapture of excess advance paints of premium tax credits. they go on to say that they are going to amend by adding at the following, and then it stops. it is about the irs tax cuts. so what they're setting us up for is tax cuts, but they're not going to release the rest of this just yet until the senators are done being briefed. so the only concrete thing any
reporter can tell you the name of this bill is going to be the better care reconciliation act of 2017. someone hit the go button a little early in mitch mcconnell's office. stuart: at least you got it. adam shapiro right there on capitol hill. thank you very much indeed, adam. i'm sure we get full details a little later. now this, the supreme court ruled in favor of former u.s. officials who were sued over the treatment of detainees post-september 11th attacks. the supreme court ruled in their favor. got it. james mitchell, the author of enhanced interrogation joins us. he is the man who waterboarded khalid sheikh mohammed. welcome back to the program, james. good to see you again. >> glad to be here. stuart: what does that supreme court ruling tell you about our democracy and how it works and how it is being, i think maybe used against us? what do you say? >> well i think it points out the importance of the selection of supreme court judges to begin with. let's not lose sight of that. the other thing it does, khalid
sheikh mohammed, as you said the mastermind of 9/11, told me that our system liberties and laws were weapons eventually used against those people who kept americans safe in immediate aftermath of 9/11 when there were these catastrophic terror attacks in the works. i think that particular lawsuit, that set of lieutenants that the supreme court just ruled on was an example of that. that is those people could use those laws to punish the people who were trying to protect americans. and i think the ruling adds another layer of protection especially for people that did lawfully within their authorization on extremists. you get these monday morning quarterbacks and look back, suggest things could have been done differently. they weren't there. they weren't there around that smoking hole. stuart: you were there. you did it. afterwards people said, what you did didn't work. refute that, please. >> well, i think you should take
the cia's word and should take the republicans and the senate select committee on intelligence. you know in each case they listed more than a dozen, 15, 1, 17 specific examples of how those attacks were, how attacks were thwarted. specifically, the enhanced eninterrogation program for high value detainees dr. jess and i were part of helped disrupt the second wave of terror attacks crashing airplanes into the tallest buildings in los angeles, seattle and chicago. that attack in my view would not have been disrupted without the enhanced interrogation program. stuart: do you live in secret? >> no, i do not live in secret. i do not. stuart: does anybody anybody know where you live? are you a little worried? >> somebody i can't remember --
whether it was beast or buzzfeed published enough information about moo that they could find me if they wanted to. stuart: are you suggesting, when you walk down the street. >> no i am not. it is an odd conversation we're having but in fact i get more people stopping me and saying, i don't agree with you, but i understand why you did it and i appreciate that you did it. those are the negatives ones. by far i get more and more people slapping me on the back telling me how much they appreciate what we did to keep them safe. stuart: amen. we're waiting mitch mcconnell who will address the senate on the floor of the senate about the health care reform plan. that is very important development. happening fairly soon, nancy pelosi is going to hold a news conference. i believe she is going to answer some of the fingerpointing at
her because of the loss by the democrats in georgia. by the way, representative kathleen rice, she is a democrat, she is from new york, she was on competing network earlier this morning. she he said quote, it is time for new leadership after a string of losses. she said it is not personal but nancy pelosi was a great speaker. she was a great leader but her time has come and gone. ashley: wow. stuart: there is mounting pressure -- ashley: she was a great speaker. stuart: there is mounting pressure here for her to step done or step aside in some way, coming from the democrats themselves. ashley: she had a competition from tim ryan early on if you remember. he ran against her. yes. and there always has been some grumblings within the ranks the 2016 results really pointed to new leadership. she stubbornly stayed there. the old guard in place. the to your point earlier, republicans are saying we want nancy pelosi.
we want chuck schumer. but in the ranks, democrats are saying we need fresh blood. stuart: just think of what we're about to see, for a senate. leader of senate, leader of republicans, mitch mcconnell is about to stand up on the floor of the united states senate detail how his party would reform obamacare. we have the democrats saying we'll stop it, no matter what it is, no matter what you think you're going to do, we're going to block it, we'll stop it, no way around it. at same time, from sighsly the same time, nancy pelosi here she comes, right going to the podium, she is under pressure in part because of her obstructionist policies. listen in. >> speak out on the lawn of the capitol on behalf of voting rights, two bills, one introduced -- one introduced by terry sewell to advance the voting rights in our country, to correct mistakes made by the supreme court on that score.
it is, i always, always, quote kink kink in many ways -- stuart: now at the moment miss pelosi is making a statement about voting rights and various other matters. if she takes questions, i'm pretty sure she will be questioned about the opposition to her leadership within her own party. want to remind everybody that president trump tweeted literally about an hour ago i think it was, can you give me that script? can you show me what tweet was. ashley: nancy p. stuart: nancy p. the president said, hopefully nancy pelosi will stay as leader of the democrats because it is best thing possible for republican party. ashley: there it is. stuart: i certainly hope the democrats do not force nancy p. out. that would be very bad for the republican party. please like cry inch chuck stay. any comment? >> enjoying this. she is not going anywhere.
she has way too much money. way too much influence. she runs the democratic party from the house side. to see them implode, see democrats fight each other instead of republicans, i think republicans should be celebrating. we won. stuart: can their obstruction policy stand? can they maintain the stance that not one of us in the house or senate, not a single democrat will vote for health care reform or tax reform. ashley: all they have got right now, let's be honest. certainly republicans helped them because they can't get their own act together. >> that's right. ashley: once republicans get on the same page it will be harpedder for the democrats. stuart: we're expecting former speaker pelosi will take questions. we'll take you there when it happens. adam shapiro discovered more of the republican health care reform plan. he has details. adam what do you have. reporter: it does repeal obamacare taxes. it does preserve coverage for people with preexisting conditions as well as allowing parents to keep their children
on their health care through the age of 26. it reunforces health savings accounts. they also say that they will allow the states more ability to apply for waivers for obamacare insurance requirement. they do intend to spend billions of dollars to stablize the insurance market even as they're collapsing around us. in 2018, $15 billion. 10 billion in 2020, and 2021. the key for a lot of people they will repeal the obamacare taxes. they are going to preserve coverage for preexisting conditions. stuart: adam, thank you very much indeed. i want to repeat this for our audience because these are bullet points which we elaborated on a little bit later on but they're very, very important. what we're talking about here repeal and replacement of obamacare. obamacare taxes, repealed. what will be kept is the coverage for preexisting
conditions, and we will keep coverage of our children up to the age 26. health savings accounts will be enhanced. and states will have the right to waive from some insurance mandates. i'm trying to interpret that as. you no longer in a state whether you will cover this, or this, or this. mandate from the federal government says you will cover all of this. my interpretation of this move, states will have the choice what they will be forced to cover. ashley: what donald trump said from the beginning. it is up to the states. they should have the choice, power over their own purse strings. stuart: billions of dollars, federal money, will be spent to stablize the insurance markets. i guess that's to stop everybody just being cut immediately or with sky-high premiums nobody can afford. >> president is smart. remember he is not only shifting it to the states. now the blame goes on the states.
if they can't get it under control. now, of course this is the federal issue as well because the federal government subsidized a lot of this stuff but now the state, now they can go to their state legislator, hey, you nice are responsible for failing health care markets. stuart: meanwhile, nancy pelosi, left-hand side of your screen, she is blasting what she calls trumpcare, that would be the new obamacare, when we just got details of that. she says it is all about closing hospitals and leaving millions uncover. i want to listen in for that a second. we'll listen to that before mitch mcconnell is on the senate floor. >> well lose 1.4 million jobs. some of that is overlap with the health care bill, not in addition to. we haven't seen infrastructure bill. we started with the budget. we know with the health care bill would do.
so this is a big problem. no budget, no infrastructure bill, no tax bill. we thought we could work together on infrastructure. we could work together on reducing corporate rate, closing special interest loopholes, reducing the deficit, creating growth by working together i fear what they may do is get through this debate on health care to enable them to get on debate about taxes and just trickle-down economics to prevail. one other point i want to make this again, this bill, that the republicans put out, a working draft, that is term of art, is, yet again, a tax bill disguised as a health care bill. they need this in order to do their tax breaks for the high-end, to the tune of hundreds of billions of dollars. it is unfortunate. i know you're probably have some interest in what happened in georgia this week. the fact is we're very proud of
the race that was run there. candidate who carried the banner, jon ossoff had a g i was interested in some of the statements of the people from georgia saying, hey, we reduced by 20 points what the advantage had been in that district for the republicans. this is good news for us, for our legislative races and our congressional races and also statewide. i think our chairman deserved a great deal of credit for the work that was done in these four races. i don't have it right here, but it adds up to over 71 points. 25 points carved off of the republican majority in kansas. another big chunk in montana. another big chunk in south carolina. another big chunk in georgia. finish nearly 20 points. so over 71 points. by all accounts, if you're a
republican, this is not good news to you. because it shows where the vulnerability is on the republican side as we come forward -- stuart: it is 11:00 eastern time. big events in our nation's capital. health care is the focus. left-hand side of your screen, of representatives, explaining her position on health care reform. and is about to answer questions about her leadership. her leadership has been questioned by moderate democrats. yesterday and again today. questioned in harsh terms. questions on that subject. right-hand side of your screen, the floor of the united states senate where any moment mitch mcconnell, is leader of the united states senate, will be making remarks about the health care reform plan. we have received some details of what that health reform plan is all about, and i will briefly
give them to you now because this is a big deal. number one, obamacare taxes will be repealed. number two, it will preserve the pre-existing condition coverage, and it will preserve your children being on your coverage until the age of 26. the new bill will enhance health savings accounts, and there will be billions of dollars of federal money to stabilize the insurance markets. and states will have the right to waive from some of the, some of the mandate of what the government says you must cover. i'm trying to get this all together here as the events unfold in washington. this is a very big deal, indeed. and i'm going to comment on, first of all, on the health care plan, the reform plan as we now know it. it seems to me to be a very moderate plan in the sense that mr. mcconnell is going out of his way to make sure that people
are not left high and dry with no coverage or wildly expensive coverage. >> right. stuart: he's enhancing the whole idea of saving for your own health care coverage with health savings accounts. and at the same time, big deal for the market, repealing all obamacare taxes. that's where we are. we're awaiting official word from mitch mcconnell himself on the floor of the senate. and by the way -- now, let's go to adam shapiro. a few more details of the health care reform plan emerging. now what do you have? >> reporter: this is big. it will repeal the employer mandated and also provides $68 billion over the years to the states to innovate their own health care coverage plans. so it removes the power from the federal government. stuart: i want to repeat that, adam, hold on a second. this bill from mitch mcconnell would end the individual mandate and the employer mandate. >> reporter: yes. stuart: that is a very big deal. >> huge.
>> reporter: yes. stuart: now i'm going to go to nancy pelosi who was just asked about her future. >> my comment is about the issues that we're here to fight, and we're fighting right now on the health care bill. the expansion of opportunity in our caucus has been great for people who want to take advantage and help us -- stuart: ms. pelosi brushed off the question about her leadership. mitch mcconnell now speaking. listen in. >> once again potentially by as much as 43% in iowa, 59% in maryland and even a staggering 80% in new mexico. does it sound like obamacare is working? they said it wouldn't increase choice. they said it would increase choice. they said it would increase choice but, of course, it didn't. this year 70% of american counties have had little or no choice of insurers under
. >> we've been engaged -- corn fronting the obamacare status quo. we debated many policy proposals. we considered many different viewpoints. in the end, we found that we share many ideas about what needs to be achieved and how we can achieve it. these shared policy objectives and the solutions to help achieve them are what made up the health care discussion draft that we finished talking through this morning.
we agreed on the need to free americans from obamacare's mandates and policies contained in the discussion draft -- stuart: o.k.. what you're watching now is senator mitch mcconnell. he's outlining the early stages of his presentation the collapse of obamacare and why it must be repealed and replaced. as he's speaking, the stock market is going up. investors like what they're hearing. the dow is now up 44 points. on the other side of the coin, we've got health insurers all going up. health care stocks in general are up. the s&p index of health care stocks up about 1.25%. investors like what they're hearing about the health reform bill. adam shapiro is with us. he's already outlined the main points of the repeal and replacement bill, and now i think you got some more detail. >> reporter: this is about medicaid, and this is where the house and the senate disagree among the republicans. the senate plan would begin the
shrinking of the medicaid expansion in 2021 and then bring it back to pre-existing obamacare levels by 2024. that's essentially seven years from now. what the house wanted to do was save those medicaid dollars by 2020 and do that in a rapid pace. so this is much slower than what the house originally planned. it's very big because this is where the big tax savings take place through the medicaid expansion and returning us to the levels before obamacare, stuart. stuart: very short and to the point, adam. well done, indeed. you reduced it to bullet points which we can all understand, and the market understands it. look, let me go through some of the bullet points here, because this sounds like a workable replacement bill for obamacare. taxes repealed. they're gone. the individual mandate and the employer mandate, gone. that was the way in which the federal government said you will cover these people, and here's
what you will cover them for. that's a mandate x it's gone. the medicaid will begin to shrink in the year 2021, three years from now. this is the new treatment of medicaid begins then. and it will shrink back to its pre-obamacare level by the year 2024. so there is a slowing down of the shrinkage of medicaid. the pre-existing condition coverage stays. keeping your children on your policy til 26, it stays. health savings accounts, enhanced. and there will be billions of dollars, federal dollars flowing into the insurance market to stabilize the insurance policy market. that's why the insurers are all up -- >> it seems to me it's a little bit watered down from earlier proposals to appeal to more people. the question is always with the republicans will the moderates get onboard with this, but will the conservatives. does it go far enough, that's the key question. stuart: it sounds moderate to
me, herb loan bonn, what -- london, what say you? >> it is moderate, i think it's sensible. the one issue that is going to come up time and again by the democrats, pre-existing conditions account for a very significant portion of the expenditures. it's roughly ten -- it can'ts for ten people who are -- accounts for ten people who are insured. one person who has pre-existing problems, ten people insured. that's 55% of all the expenditures. now, what this proposal suggests is we're going to enhance what the insurers presently received. that's one of the reasons why you saw the stocks go up. but let me make a point about this. when you're dealing with pre-existing conditions, you cannot possibly estimate what's going to happen in the future. so if you put $10 billion, it's probably going to be $15 billion. the democrats could use this as an argument, additional expenditures that are unanticipated. stuart: left-hand side of your screen, winners in the dow 30. unitedhealth, pfizer, johnson &
johnson, caterpillar and merck. with the exception of caterpillar, all health-related stocks, and they're up because of what we're learning about the republicans' plan to repeal and replace obamacare. lawrence jones. >> the first thing that jumps out to me is the individual mandate. especially when it come toss the 30-hour rule. a lot of people would prefer to get more hours than health care because they can't survive to take care of their family, then the health care doesn't really matter. the employer mandate is important as well. if i want to pay in cash, i should be able to do that. the government shouldn't be able to tell me that. those are two big takeaways -- stuart: yes. you're right, lawrence. you take away that mandate, the individual mandate and the employer mandate -- >> right. stuart: -- you've freed up the market, the job market, so to speak, and you've freed up individual liberty not to have to be covered by the government for these particular illnesses and conditions. >> exactly.
stuart: that's freedom. >> that's what the conservatives in the republican party will buy into. >> right. that'll appease people. >> represent p a free market opportunity. >> but people were losing must be. essentially, they couldn't work over 30 hours even if they wanted to, because their employer would have to give them health insurance. now that's removed and people can work 60 hours without the health care. stuart: that's distorted the labor market. obamacare was a dreadful distortion. >> yeah. stuart: it forced employers to hire part-timers. >> yes. stuart: the number of part-time jobs went through the roof because of obamacare. >> exactly. people had to get two jobs. stuart: exactly. well, that's gone. the market likes it, the dow is up 40-odd points. the dow winners are mostly drug companies, hospital companies, health insurers. if we can put up the health insurers on a particular screen, humana and the rest of them, there you have it. unitedhealth, aetna, cig narcs
humana, all of them up 1.5-2 percentage points. that's because included in this bill is billions of taxpayer dollars going to the insurance market to stabilize it. >> right. stuart: that's money flowing out to these companies. health care stocks in general all up. look at that. 4, 3%, 4%, 2%, they're all up in percentage terms. the dow industrials are now up 44 points. now, it doesn't mean to say that this is the end result. >> no. stuart: yes, we get this reform bill in its entirety, this is what the senate's going to pass. that's not the case. >> no. stuart: this is a proposal. >> starting point. stuart: we have the broad outline obviously that proposal. >> need to get the freedom caucus onboard. stuart: there'll be a committee session to iron it all out. there'll be amendments as it goes through the senate and voted on next week. but it's a start. >> right. >> i'm impressed. >> finally. stuart: you like it? >> i'm impressed. i didn't think they were going to be able to come together especially when you have rand
paul, ted cruz and mike lee. i want to see where they stand on this proposal. i think there'll be some agreement but, again, many of the freedom caucus members as well as the liberty members in the senate wanted to get the costs down. will this get the cost down? i think it will. stuart: with, look, the moderates among democrats in the senate will surely find this to some degree appealing, herb. >> oh, i think that's right. stuart: okay. sweeps away obamacare, but it's a starting point. it's moderate. surely we can expect maybe a couple of moderate -- >> i think we should be able to peel off a couple of democrats. stuart: especially with nancy pelosi under such pressure as the leader of the party in the house. >> well, nancy pelosi, it seems to me, has engaged in a certain kind of hyperbole that has relatively little to do with this proposal. she's talking about hospitals closing, people on the streets, people having illnesses that cannot be attended to. it's really quite absurd.
what you have here is the extinction of what i would regard as overcome of rhetoric, rhetoric that has no relationship to any reality. this is a sensible proposal. obviously, it could be modified, but it seems to me that it represents the republican party coming together and clearly representing an opportunity for democrats to come aboard as well. stuart: herb london. whilst we're all digesting what's in this new health care bill and how the market is reacting to it, i want to head to the white house where president trump is hosting a tech summit. i want to bring in blake burman on this. i'm told they're talking about drones and broadband for everyone. tell me what it's all about, please, blake. >> reporter: indeed, stuart. three agenda items here. first, investing in emerging tech. secondly, as you just mentioned, building out the internet, looking at how to integrate 5g wi-fi capabilities. and, third, the challenges involving unmanned aircraft services, aka drones. involved in this gathering right
now inside the white house, you've got the president and his top advisers, ivanka trump, jared kushner, wilbur ross, gary cohn, just to name a few, and then about two dozen or so ceos, the leaders of a handful of companies, honeywell, sprint, verizon, at&t, ge. the president and his top advisers, top economic advisers, tech, how to informs in it. drones, 5g, the internet all taking center stage at the white house. we expect to hear from the president, by the way, as well. stuart: blake, you sound almost breathless, and i'm not surprised because there's a rot going -- a lot going on in d.c. and it's great to have you on top of it, blake burman. you're all right. >> reporter: and you know what? there's health care going on here at the white house too, but i'll leave that for you. you and adam have got that on lock. stuart: all right, blake, back to you shortly. [laughter] herb london, i want to talk to you about nancy pelosi. >> yes, sir.
stuart: because it seems to me that her position is threatened. she's got a great deal of criticism from fellow democrats. this morning she was holding a news conference about health care and was asked a question about her leadership which she brushed off very, very quickly. didn't want to go anywhere near it. but i think the democrats are in turmoil, and i think that's important because health care is trying to go through the senate at this time. >> well, i think that what you're seeing here is a democratic party that is in disarray in part because of nancy pelosi's leadership. i think there are some in the democratic party who are saying we need a new leader on the house side. i think that those democrats will speak very loudly and very clearly to their own constituents suggesting that some change is probably necessary in the future. keep in mind nancy pelosi is not a youngster. one wonders whether, in fact, her best days are behind her. i do think there's probably time for the democrats to seriously entertain the idea of different leadership. stuart, but lawrence jones, you
said you do not expect nancy pelosi to step aside or be forced out anytime soon. >> yeah, there's just no way. she has too much connection in the house. she holds it together. she has all the money. now, will they continue to push her to get out of leadership? yes. i don't think they can do it right now. maybe a year or so if they don't win back the house. maybe then. stuart: but who leads? if nancy pelosi does not lead in the house, who does? >> fill vacuum. stuart: and what wing of the party will be represented if there is a change in the leadership? is it the bernie sanders wing, the socialist wing, or is it the tim ryan finish. >> i don't think you can get any farther left. i think we're there. we're dealing -- [laughter] stuart: oh. >> i think you can go even further to the left. [laughter] stuart: thank you very much. you haven't been to britain recently, jeremy corbyn. >> right, right, right.
[laughter] stuart: okay. now moments ago, as you know, nancy pelosi held a news conference, and here's how she responded, this is how she responded to the question about her leadership. roll tape. >> so you want me to sing my praises, is that what you're saying? why should i? well, i'm a master legislator. i am a strategic, politically-a astute leader. i am, my leadership is recognized by many around the country, and that is why i'm able to attract the support that i do which is essential to our elections, sad to say. i'm very pleased at the cooperation that we're doing working with all the social media and small donor community to change how we communicate but also how we attract resources, intellectual and financial, to the party. i have experience in winning -- stuart: you heard it.
and so i believe did congressman peter king, republican from new york, who joins us now. master legislator. now, i don't want to be sarcastic or facetious here, but what do you make of what nancy pelosi just said, representative king? >> i think she's protesting too much. and, you know, the reality is in politics you judge by results. and in the district down in georgia, president trump had only carried that by one, one and a half points. this time republicans carried it by three times more than that, and nancy pelosi was the main issue republicans raised. so, basically, we won that seat because of the fact that nancy pelosi was the democratic leader. that's the reality she has to accept. i also heard somebody say before i don't know where the democrats would go because they are really so far to the left, so progressive, liberal, whatever you want to call it. and, again, you have someone like a tim ryan, obviously. i don't want to be getting involved in the other party's politics -- stuart: yeah, you do. [laughter] you'd love to make a comment. come on, congressman.
>> is that herb london in the background? he's an old friend. tell him i said hello. >> how are you, pete? >> very good. right now it's a democratic party that has hit a level they can't go above. they're 0-4 in special elections, and this is a time when president trump has gotten the worst possible media barrage against him, and in spite of that republicans have taken the four seats. and, again, nancy pelosi was the main issue we raised. so i think the longer she stays on the better it is for republicans, but i don't know what their alternative is on the other side. in the senate you have people like joe manchin and others. in the house really it's almost a race to the left. stuart: okay. i'm going to repeat for our audience's benefit some of the bullet point that is we're getting from the republicans' plan, the senate plan to reform health care. number one, all obamacare taxes gone. the individual mandate, the
employer mandate, gone. the shrinking of medicaid, slowed down. be billions of federal dollars going into the market to stabilize the insurance market. enhanced health savings accounts. preserve the pre-existing coverage, and you can still cover your kids until the age of 26. now, congressman king, that sounds a fairly moderate proposal. do you think it's moderate enough to peel off some moderate democrats in the senate and also in the house to get some kind of bipartisan support here? >> no, i don't think so. i think when you're talking about medicaid, the democrats are pretty much locked in. they may get one or two, but i just don't see it happening. i really don't. stuart: it only takes one or two, congressman. in the senate it would only take one or two democrats, like senator manchin, for example. >> i don't think so from my conversations with senator manchin. i don't think so. but, again, we'd have to wait and see. in the house perhaps a few, but it's going to be very tough. in the senate, no, i think even joe manchin -- again, i don't
want to speak for him, but my impression is because of medicaid, because his state is so dependent on medicaid expansion, that it would be very difficult for him to vote for that. again, obviously, he's a good friend and i can't speak for him, but that's the impression i would have. stuart: now, i characterize it as a fairly moderate proposal bearing in mind that you're sweeping aside the signature legislation of president obama. i still think it's a fairly moderate proposal. what say you? >> yeah. the term i would have, this is probably where herb london and i would disagree, whether or not medicaid expansion worked or was important to have, i would prefer a slower leveling of it off only because in new york it's 800,000 people on it right now, about 25,000 in my district. and the health systems and the local governments have tied themselves into that, and i think we need more of a transition period. other than that, i think it's a good bill. stuart: but that could be worked out either in the committee stage or worked out in amendments in the senate. >> right.
stuart: this is not a done deal at this point. there's still room for negotiation. the sausage is still being made, is it not? >> right. and it's always ugly when you're cutting sausage, making sausage. stuart: now, we've come to the conclusion -- my conclusion, maybe -- that it's better to get something than nothing. the republicans must produce something on health care, and they must produce something on tax cuts. i say it's better to have something rather than nothing. what say you? >> yeah, i agree. i think if the president doesn't start getting some signature legislation through, it's going to tie down his entire program, and we can't afford that. so we have to go ahead. i agree, on the medicaid if we can somehow adjust that, and senator portman and others in the senate have concerns about that also. but again, overall i give the senate credit for moving as quickly as they have. stuart: congressman king, always a pleasure. thank you very much for being with us. >> okay. stuart: the congressman takes time out on a very, very busy day to come with us now.
all right, here's what we've got on the markets. first of all, the stock market is up. the dow industrials, a gain of 41 points. virtually all health care and, certainly, health insurance stocks, they are all up on this news that we're getting about health care reform. we're putting oil on the screen for you because it's now back to $43 per barrel, and that actually is important for every one of us and also for investors in stocks. come on in, stephen schork, from the schork report. he knows a lot about oil, and he's been right in the past. [laughter] i was giving you an opportunity there to blow your own trumpet, but you didn't do it. all right, stephen. i say that the stock market will have a huge problem if the price of oil drops below $40 a barrel. am i right? >> that's a fair assessment, stuart. we have to keep in mind oil being such an important industrial commodity.
it certainly is a bellwether for the overall economy. so if you do have weak withenning oil prices -- weakening oil prices, commodity prices, that certainly is indicative of an economy that is telling us that there is potential pitfalls -- stuart: okay. do we get to, do we move below $40 a barrel? >> right now we certainly have broken a key area of support between 47 and $45 a barrel, and that's an issue. crude oil demand now here in the united states has never been stronger, and yet we cannot support prices at these levels. so what we look for now with oil right around that $43 level, of course, the next target is the psychological threshold at $40 a barrel. to be specific, stuart, there's a key technical range in between $41 and $37 a barrel. that is now the key downturn, downside target for this market. stuart: okay. i have to ask you about gas prices. i've got a bee in my bonnet about that.
i've got my own forecast, my own opinion which says by the end of this month, which is about eight days away, there will be six states where the average price of gas is under $2. south carolina is already under $2, so is oklahoma. i think four more will join that list. what say you? >> oh, well, absolutely. with the downturn in price and typically the correlation, stuart, is for every $1 move in the price of oil, there is a two cent knock-on at the pump. so the few dollars over the past couple of weekes, certainly that will translate into lower gasoline prices. and to your point, we're going into the fourth of july weekend. we are now going into the peak demand season, and we're talking about in a number of states gasoline below $2 a barrel. when we adjust that to inflation, stuart, gasoline essentially has never been cheaper in this country. it's an an amazing thing.
stuart: stephen schork, you're all right. thanks for joining us. >> thank you, stuart: stuart: okay. now, the issue that's really moving the market which is really shifting politics is, obviously, health care. it has been revealed the republican health care repeal and replace obamacare bill. okay. we've got it. and i'm going to give you the bullet points, because this is what's moving the markets. number one, taxes. obamacare taxes gone. the individual mandate and the employer mandate, gone. that's the mandate that says you've got to cover these people and here's what you've got to cover them for. that mandate, both of them, gone. medicaid, now, this is extremely important for acceptance in the senate. the shrinkage of medicaid is going to be slowed down. okay? the house bill speeded up the shrinkage of medicaid. the senate bill that's being presented this morning slows it down. so those states -- and i believe there are 20 senators
representing states which went heavily into medicaid -- those senators will be appeased to some degree by this slowdown in the shrinkage of medicaid. sounds to me hike a fairly -- like a fairly moderate proposal. that's the way i'm taking it. ashley, you've got some details on what? >> yeah. this is from a senate, conservative senate gop-er commenting to brian. >> warkts one of our producers here. look, it's as bad as we thought it was going to be. this from the conservatives. quote, it's obamacare-lite. they are barely tweaking them. the purpose of the bill is to try and reduce premiums by throwing a ton of money at insurance companies and keeping the basic structure of obamacare in place. so there you have it, conservatives saying it's too watered down. [laughter] stuart: despite what the conservative says, the market's up, health care stocks are up, drug stocks are up, investors seem to be encouraged by what they're hearing. >> because at least we have a starting point.
stuart: yes, we've got a starting point. >> something happened. stuart: yes. we're moving. >> yes. stuart: to some degree. >> we'll see. stuart: look who's here, it's thursday, so let's bring in dan henning ger, deputy editorial page editor of "the wall street journal." you heard what's going on with the health care bill, and you've heard what one republican conservative senator had to say. how do you judge the chances for getting something done on health care through the senate quickly? >> i guess the way i would put it, stuart, is can anyone possibly believe that these conservative senators are going to sink this health care bill and pin the loss on health care reform on the president? it's just, to me, beyond imagining. obamacare is collapsing around the country. insurers are pulling out of counties. premiums are skyrocketing. there's a big problem. they control the congress, they've been asked to solve the
problem and they're going to stand there and say we're going to do nothing about this? who do they think is going to get blamed for them? no. it will be them and donald trump. i just cannot imagine. there's a lot of positioning going on here, perhaps to go to a conference with the house. the bill is going to be legislated further, and a lot of this is just putting down markers for the future. think this thing verge city is going to -- eventually is going to pass. stuart: that's fascinating. there is such a thing as moderate democrats in the house and especially in the senate. democrats who face re-election in 2018. i suspect that some of them could be peeled off from the democrat leadership which says we're having nothing to do with, we're stopping everything. i think some democrats will be peeled off to vote for this bill. what says dan henninger? >> i would say after what happened in georgia tuesday, absolutely -- stuart: really? the georgia vote was that important? >> oh, i think so. it showed that the democratic
strategy of being totally anti-trump, complete resistance on everything, cooperate on nothing doesn't seem to be working in the kind of moderate state that is many of those moderate democrats will be running, north dakota, west virginia, indiana. and i think that people like senator joe manchin, joe donnelly in indiana are stepping back and saying i think i've got to show a little bit of cooperation here on things i can take back to my moderate constituents. stuart: okay. now, we have the dow industrials up 38 points. health care stocks are up. i believe the market, investors are listening to the dan henningers of this world -- [laughter] you can move the market, let me tell you. [laughter] there's a man of power. okay. i think investors are saying, yeah, we've got something going here. what do you say, herb? >> i think dan stated it very effectively. the republicans have to deliver something. this can't be an anti-trump party. as a consequence, there is no doubt they will get something. if the issue is medicaid,
there'll be a compromise between the house and the senate. i don't see that as an issue that stands in the way as a major impediment. so i do think something will be accomplished. the republicans have to do this. it also is set it is the stage for other legislation. so there's no doubt in my mind they'll get something out of this. something will be passed. stuart: dan, nancy pelosi's leadership of house democrats really being threatened, i think. i doubt very much that she'll be forced to step aside anytime soon, but her position is precarious. she's been criticized by moderates vigorously. and we had representative kathleen rice, she's a democrat from new york, she says nancy pelosi was a great speaker, she was a great leader, but her time has come and gone. that's rather strong stuff. >> it is strong i stuff. you know, it sounds like what happened to john boehner when this was a crisis to his leadership from the right from the freedom cause, and perhaps that's what's developing now on the left. bear in mind, however, that
nancy pelosi is one of the greatest fundraisers that party has ever had. she raises millions and millions of dollars. that's probably what she has going for her. stuart: can we see paul ryan? i believe he has started to speak. i don't think this is the regular weekly news conference, but he's certainly speaking. i want to listen in quickly. >> it was really cool to see special agent crystal greiner thousand out the first pitch last night -- throw out the first pitch. he had just got off the hospital, and to see crystal come out and throw the first pitch was a very, very, very cool thing -- stuart: now speaker ryan is not addressing health care at this point, he's not addressing tax reform, he's not addressing the trump growth agenda, but he will. and when he gets there, you will hear what he has to say. lots of moving parts to the action in washington, d.c. today. let's not forget that at the white house there's a high-tech conference about drones and broadband with the leaders of all kinds of cable companies right there meeting with the
president. that's happening as we speak. on the senate floor, we've seen mitch mcconnell outline the collapse of obamacare and what he proposes to do about it. and then we saw senator charles schumer who was saying that, essentially, the republicans' plan is heartless. and that it will reduce less care, and it'll be more expensive. stuart: was he crying as he said that?republicans have. and so he used this expression, so is cryin' chuck. his words, not mine. health care is the very center of interest as we speak, and the reaction on the market so far from what we've heard about health care reform is positive. investors like it. the dow industrials up 40 points and health care stocks almost across the board are on the upside. drug stocks, hospital stocks, insurers, you name it, they're on the upside. presumably, health care people
like the idea of billions of dollars flowing into the insurance market to stabilize it. now, speaker ryan is taking questions. we'll listen. >> i've been a little busy myself, i've been briefed on the senate version of the health care bill. >> can you give us your reaction? is it something that you think -- >> look, believe me, i know how hard this process is. from what i understand, their bill tracks in many ways along the line obviously the house bill. i think that's very good. i'm not going to opine on their process. they gave us the space to go through our deliberative process, the last thing i want to do is be disrespectful of their process. i think the bottom line is i want them to pass the bill so we can all get on with keeping our promise. you got to remember the system's collapsing. it's a real -- look, anthem blue cross yesterday pulled out of wisconsin. that's one of the most flagship health insurers we've had in our tate for many, many years. -- state for many, many years.
so this system is in a tail spin. we made a promise we would repeal and replace this law. i'm very happy that the senate has gone through the work of putting together a bill that keeps that promise. so, yeah, i'm eager for them to pass it, but i'm not going to opine on the details as they go along. >> they have literally done this behind closed doors. you in a recent interview talked about the fact that your process was open, you were very proud of that -- >> yeah, you don't, you release are legislation after you've drafted legislation, not while you draft legislation. i think this is sort of a talking point in search of a problem. you don't release a bill before you finish writing the bill. you write the bill, then you release the bill. that's what the senate's done. >> but they want to vote next week -- [inaudible] time for the american public to digest it and -- >> andy. >> do you think the increases in discretionary spending and appropriation should be matched by spending cuts elsewhere in the budget? >> yeah. if you're asking for -- if we have a cap adjustment, should we have offsets in mandatory?
i think the answer is, yes. the question quality and quantity. >> because you said the health care bill in the senate does track so closely with the house bill, do you anticipate that the house would take up the senate bill or make further -- >> it's premature to say what, how -- haven't made that decision yet. we're just not at the point of making that kind of decision yet. >> you address the senate sanctions bill? i know there's this blue slip problem. >> yeah. how many of you know what the blue slip problem is? all right, like four. so this is a very technical issue, but it's the constitution. so we take that very seriously. my understanding is ways and means is giving the technical assistance the senate needs to make sure they conform with the constitution, the origination clause and the blue slip. ed royce, chairman of the foreign affairs committee, has indicated that he's very eager to move this bill. so we want to get this bill cleaned up. we need foreign affairs to do their scrub of this legislation which is what we do every time a bill comes over from the senate.
but chairman royce has indicated he wants to get moving on that quickly, and we want to honor that. >> is that going to be a formal referral where they're going to mark up -- >> can't answer that. we've got to honor the blue slip which is a constitutional origination issue. that's why we asked ways and means to be in charge of this so make sure they give senate foreign relations the -- >> and you personally support the -- >> yeah. i support sanctions. you know i've always supported sanctions. i'm going to let foreign affairs do their scrub to make sure that the bill is written the right way, that it's in good shape. ed wants to get moving on this bill. >> mr. speaker. >> [inaudible] >> i apologize. >> who are you with? >> [inaudible] so president trump's 2018 budget calls for eliminating the federal funding for the corporation for public broadcasting. do you support that proposal, and will you follow the funding elimination of the cbp outlined
in the president's budget? >> i'm going to have to refer you to the -- stuart: speaker ryan has just been asked a question about public funding for the public broadcasting corporation. that's not terribly germane to the main issue of the day which is health care reform, which is a far bigger deal. in my personal opinion. [laughter] all we've heard so far is the media, first couple of questions, critical of what they call the secrecy. dan henninger g.-- herb london. is that the only criticism they've got? >> that seems to be it. and they better come up with something, stuart, because look at what is happening to health care stocks right now. i think this is the big story. they're all going up 3, 4, 5, 6%. >> yeah. >> what an indictment of obamacare. at the first hint that the congress may be moving forward on getting a reform of the obamacare bill, the american health care system is suddenly rising in the stock market. instantly.
and, obviously, they are looking forward to a system that -- within which they're able to function. which they have not had as speaker ryan just said. you've got anthem and blue cross pulling out of wisconsin. this suggests if they get this done, a lot of those insurers will go back into the market. stuart: it is irresponsible to look at what's happening with obamacare -- and it is collapsing, no question about it -- it is irresponsible to stand by and say i'm going to block all reform. period. we're not going to have -- that's what the democrat position is. we're not going to do anything about this at all. >> right. stuart: there is some protest there. that's in washington d.c. that's outside mitch mcconnell's office, apparently. protesters not happy with his view of health care reform. but, look, i do believe it is irresponsible to see a system collapse, the system which you built, which you put in place, it is collapsing, and you will not do anything about it, and you will not come up with plan of your own.
>> well, the president said, look, he could easily just stand by and let it collapse and let it be the democrats' fault under the obamacare title, but he said it would be irresponsible on his part -- stuart: it would. >> -- not to take action. that's exactly what the democrats are doing. >> and what you are seeing is a suicidal impulse within the democratic party. after the election in georgia, you would think the democrats would be more accommodating. there's only one sentiment that is expressed by the democratic party today, and that's resistance. even those questions were interesting talking about transparency. how do you have transparency when, in fact, you don't even know what the bill or what the proposal would suggest? it's ab you are sured. -- absurd. and that's the argument that has been made by the democrats. stuart: we are going through the proposal point by point. gerri willis has just joined our team on set here in new york. what do you have for us? >> well, quickly to your point that the whole system is failing, next year 41% of
counties would have only one insurer. that's double the level now, and that's out yesterday. but just to talk about the bill itself and what we're learning, because it's hideously difficult. and i'm talking to all my sources on this to understand it. medicaid spending would be reduced. and one of the simple ways they're going to do it, under obamacare the medicaid expansion if you made 400% of the poverty line, you could apply and get subsidies. under this plan it would be 350%. small changes like this to bring down the spending on medicaid. also aligning medicaid growth with a different inflation metric so that it doesn't grow as fast as it's grown in the past. republicans are trying to transform this program that is in deep, deep trouble. >> so they're slowing down the shrinkage of medicaid spending. >> they're slowing down medicaid spending. that's really a gate -- great way to put it. stu kurt and they've got to do that to appeal to those states which bought into medicaid
expansion. am i right in saying that? >> well, the point about the medicaid expansion also was that this bill would help people who make less than 100% of the poverty line get into that program. they could get subsidies. so they're really working everybody here trying to get everybody on board. it's very difficult. and in this bill, language that they would not allow funding for abortion. that could come out at the end of the day. that may not be part of it. and, of course, the taxes going away. we had expected some of these payroll taxes to remain in place, not so. these taxes, 20 of the 21 obamacare taxes looks like our first and initial reading going away. stuart: you saved the best til last. [laughter] oh, gerri. [laughter] well, that's a very interesting analysis. it does seem to me like a fairly moderate proposal. i'm sure as you outlined, ash -- >> yeah. stuart: -- conservatives will will object to -- >> we've already heard that. stuart: the medicaid, that's a big problem for conservatives. >> yeah.
stuart: but as dan says, when push comes to shove, are conservative senators going to abandon reform and leave it where it is and do nothing? go ahead. >> if they do that, they leave -- they give democrats an opening. we've been sitting here saying they have no alternative. they do have an alternative which is a single-payer system, universal health care. if the republicans cannot get this done, you will see democrats start talking about their alternative. and i think a lot of frustrated americans out there who have lost their insurance under obamacare are going to say i'm willing to listen to these people. maybe universal health care, single payer is simpler. maybe we should talk about that. so that's looming out in the background -- >> stuart, it's very interesting to see that over the obama years the attitude in america toward health care has changed fundamentally. it is now seen as a fundamental right. >> yes. >> as a consequence, a single-payer system has some traction in america. i didn't think that it was possible.
but i'm now seeing signs that we're move anything that direction. >> yeah. >> and i think your observation's correct. if, in fact, we do not get this passed, there is no doubt that this will be one of the proposals that will be put on the table. stuart: a couple of developments. you may have seen on your scream some protesters outside mitch mcconnell's office. capitol police are in the process of removing those demonstrators. they come from a group called adapt. adapt is the name of the group. they believe that cuts to medicaid will create, will be a death sentence, essentially, to some people who are disabled. that's their point. >> this is something i always struggle with. it's not a cut. it's a reduction in the level of expansion. think about it. it's not cutting funding, it's just reducing the level of expansion of the increase in spending on medicaid. it's an important point. stuart: but how many times in washington -- [laughter] >> think about it. stuart: -- call it a cut when it's not, it is actually a slowdown in the rate of increase. >> yes. stuart: we've been hearing this
for 25 years -- 40 years, in my case. [laughter] now, second development, we're just moments away from getting tape from president trump who is addressing the tech summit, another tech summit at the white house. now, he has made some comments, believe, about health care. we're waiting on the tape. we've got about two minutes to go, and we'll play it as soon as we get it. that's the president on obamacare replacement and repeal. so far here's what we've seen. i'm going to give you the bullet points again because it's important stuff. obamacare taxes, they're gone. the individual mandate, the employer mandate telling people who's got to be covered and how you've got to cover them, that's gone. the mandates are gone. that's a very important thing. the medicaid, the shrinkage of medicaid will be slowed down. i can't think of a better way to put it. it will be slowed down. it's not a cut.
it will be slowed down can, the shrinkage. [laughter] billions of federal dollars pumped into the market to stabilize the insurance market. that's why the health insurers are doing rather well this morning. health savings accounts, haven't heard much about those for a long time, they will be enhanced. preserving the pre-existing condition coverage, that stays. that's not going away. and you can keep your children on your policy up to the age of 26. that stays. those are two very popular items. they stay. preserving the pre-existing coverage is extremely expensive, but it stays. what else have we got here? states will be allowed to change -- will be allowed waivers as to what they have to cover and who they have to cover. so states will define what is, essentially, a mandate as opposed to the federal government. that's what we've got. the market likes it. dow industrials up 30, 40 points. health care stocks all across the board are higher as we speak. whether it's health care -- health insurers, whether it's
drug stocks, hospital stocks, doesn't matter. they are all up in significant proportions. the health insurers up 3, 4, 5 percentage points. now, let's listen to the president on health care. >> are you saying george first? okay, george is first. okay. >> how do you like the health care, folks? >> how do you like health care? >> it's going to be very good. >> [inaudible] >> a little negotiation, but it's going to be very good. stuart: all right, that's it. [laughter] we got 12 seconds. that is the president of the united states of america saying it's going to be good. twice. [laughter] come on, bail me out here. [laughter] i was expecting a couple of minutes at least. >> i was too. stuart: go. >> that was stunning stuff, stu. i was waiting for those two minutes that you told us it was coming, and that was it. hey, what else is he going to say? stuart: okay. let me wrap this up. [laughter] we've told you exactly what is in this proposal, and that's what it is.
amendments will be added. and when they've done something in the senate, then it has to go to a house-senate conference committee, am i right on that? they'll make further changes to it at that point, but the process has begun. the market likes it and drug stocks like it. i say -- here's an opinion again -- i say at the very end of the day there will be some form of health care replacement and repeal of obamacare. i think it's going to happen. herb london? >> without any question. i mean, this sets the architecture for the entire trump agenda, and there's no doubt that this will have to be passed. the form and the kind of compromises that are necessary clearly can take place. as i suggested before, if medicaid is one of the issues, i can certainly see that the slowdown is different. in the house and the senate at the moment, some sort of compromise can be achieved on that basis. i think the conservatives can look at some of the reforms as free market reforms; that is, health care, the kind of health care provisions that exist for individuals, the idea that you would have the pre-existing
conditions pretty much handled by the federal government so that you can reduce the cost for individual insurers. i think by and large this is a reasonable proposal. not ideal from the point of i view of the conservatives, but i think they get enough out of it to pass this bill and to move ahead. stuart: okay. my personal bee in my bonnet is tax cuts. i think that's the most important thing -- >> it is. but it's the thing the mainstream media headline will be reducing taxes on the wealthy and insurance companies, stripping fund for planned parenthood. that is going to be the headlines. stuart: if president trump and the republicans get a win on health care, that enhances the prospects of a win on tax reform. >> of course. stuart: am i going overboard? >> absolutely. i think the democrats in the wake of georgia sixth and all this warfare, they have a big problem. because the economy is strengthening. unemployment is down. the one thing that could hurt republicans nationally is if the economy weakened. if they pass a tax reform bill
in the wake of this and the economy strengthens, those at-risk democrats are going to have a very, very difficult time in 2018. what will they have to run against? stuart: do you think the political climate changes? i think president trump badly needs a win -- >> absolutely. finally gets the wind at his back. stuart: i mean, the man has political capital all over again. >> well, you know, i was just going to say the sort of moderate remarks he made about the health care bill, he got deeply involved with the house in negotiating that, recall? and so he understands something about the process that is going on here. and it was telling that donald trump has kind of learned something from the experience of the house health care bill. and he knows that his role here is to stand back and not lean in too hard. he'll lean in when he has to, at crunch time in the senate, but i think that was a learning experience for him. stuart: okay. gerri -- >> yeah. stuart: -- would you please repeat what you told us about medicaid and the slowing down of
the shrinkage? i.suspect that's going to be a very big deal for a lot of senators. >> right. as you know, a bunch of governors got together and said, for the love of god, do not cut medicaid, we need that money. as you know, obamacare expanded medicaid so that people could get onto the obamacare platforms, get subsidies for coverage. now the republicans in the senate saying, hey, wait, wait, wait, we're going to slow that down particularly for people in upper income categories four times poverty. that's what obamacare said. that's the limit on people who can participate with subsidies. senators now saying, huh-uh, no. 350% of poverty. so, you see, a ratcheting down of the folks who could be involved in that program. but at the baseline, at the bottom they're allowing more people in lower income levels to participate in obamacare with subsidies. they will get help. the question is how many will be able to afford it even at that level. overall medicaid spending will also be reduced because they
will change the metric by which they raise their contribution. remember, look, the federal government is paying most of medicaid, and when it comes to the expansion, they're paying 90% versus 10%. those are obamacare rules. what the republicans want to do is say, hey, no, no, no. we're going to change that to the way the states currently get medicaid dollars. and that's based on incomes. stuart: conservatives in the senate will not like this because that is government care -- >> correct. stuart: -- of sorts. >> obamacare lite is what they've already called it. stuart: and they don't want any part of that. >> if you have pre-existing care in the united states, you're going to have a government subsidy for the insurance companies. as i indicated before, whether it's $8 billion to start with or 10 or 12, that will continue to increase. there is no doubt if you want to lower premiums, you have to recognize the fact that the federal government is going to have to be involved with those people who have pre-existing problems. stuart: and that's why on the
left-hand side of the screen we've had the health insurers, all of them, on the upside. drug stocks up as well, hospitals. look at unitedhealth, aetna, cigna, humana, all of them up roughly 1.5-2 percentage points there. and that tells us what? >> that they like what they're seeing here. just to make one more point about medicaid, as gerri was suggesting earlier, this is -- [audio difficulty] the democrats' idea is to push as many people as possible into medicaid. what this bill is doing is giving the states the opportunity to not only spend less over, say, 20 years on medicaid, but to change those plans so that they're actually delivering worthwhile medical services to the poor people who need them. it doesn't really do that now. stuart: think of the effort that president obama and speaker pelosi way back when, eight years ago -- >> yeah. stuart: -- think of the effort that they put into this radical shift in our health care plan.
obamacare came along, it took an entire year to get to that point. it's unraveling politically, gerri. >> it's true. and the closer you look at it, the worse it looks. yesterday i showed a map comparing 2014 to 2017, the number of counties with a single insurer. it blossoms over that period. and i'm not even talking about the 47 counties with no insurer in 2018. people don't have choice. it is not a marketplace anymore, and that is one of the essential problems with obamacare. stuart: another important point is getting rid of the employer mandate. as of now under obamacare, an employer has to offer health insurance to those people who work 30 hours or more per week. i think i've got that -- >> 50 workers. stuart: so, of course, if you've got 50 workers and they work 30 hours a week, you've got -- you're on the hook for health care. >> right.
stuart: you've got to provide it. that mandate is gone. that means the jobs market, the labor market has now been freed up. instead of this massive number of part-time jobs, which were generated because of obamacare, you're freed up now to offer them what job they want. >> right. stuart: the kind of job -- >> without the mandate. >> without the mandate, gerri. >> and also what about the tax implications? for people earning $200,000 and more, that should give some assistance to the stock market. that was a big addition to obamacare. it turned over a lot of money. that looks like it's going by the wayside. stuart: as i understand it, there is a .93 surcharge -- >> medicare. stuart: -- on high income earners. >> yep. stuart: $250,000 and above, you pay .93% of your income. >> right. >> it's a payroll tax. stuart: it's a payroll tax. that's gone.
that's money coming right back to people's pockets as soon as they get this thing done in the senate. that's -- so in two respects, the tax cut and the change in the labor market, a boost for the economy? what do you say? >> dramatic boost to the economy. stuart: dramatic, really? >> republicans have to be able to articulate this argument effectively. when it comes to this issue of medicaid, that really is the issue. because i can hear this through the corridors of american life where people are saying, oh, the poor are going to suffer. they're not going to suffer. all we're doing is cutting back on the increases. that's an important distinction. the republicans actually will allow for many more poor people to receive this service and the kind of service that's necessary. the republicans have to be able to make that argument to the american public. >> they're already describing those cut, though, as draconian and dramatic. >> yes. >> you're already seeing those words in the marketplace. stuart: i don't think that's accurate. do you think that's accurate? >> i think it's an overstatement. i think that what is happening
to medicaid expansion is being described as what's happening to all of medicaid, and that's incorrect. stuart: okay. speaker pelosi. she was speaker of the house -- [laughter] at the time obamacare passed. she was the architect of its passage, not the bill itself, but the architect of its passage. should she now resign because it's now being repealed? [laughter] says he. >> well, i'll tell you, i think you can make a case for her resigning at this point. that party needs a shot in the arm right now. all they've got, basically, bernie sanders, and they need new, younger blood to drive the party, carry the idea. she's been there for a long time and this would be a moment for her to step aside and let the next generation of democrats -- who they desperately need to develop at the national level -- step forward -- stuart: you make a good case, dan, but -- >> not with nancy pelosi. [laughter] >> i was going to say i think it would be bad for republicans
because i think she's reached a level of being ineffective that helps the gop. stuart: can we put that tweet back up on screen, please? this was president trump about an hour and a half ago tweeting about nancy pelosi. he does not want her to leave the relationship of the dem -- the democrat party. essentially, the president is saying please don't go anywhere. and he called her nancy p.. please don't go anywhere. we're going to get it up, i promise you this. [laughter] about 30 seconds left on this program. yeah, there you go. i certainly hope the democrats do not force nancy p. out. [laughter] that would be very bad for the republican party. then he says, and please let cryin' chuck stay. [laughter] does that remind you of the campaign? >> yes. stuart: that is campaign rhetoric right there. i want to thank gerri, ashley, dan, herb.
we tried to make sense of it. terrific coverage as it was breaking. my colleague, neil cavuto, will continue the effort. neil, it's yours. neil: stuart, thank you very much. as stuart has told you, the dow spiked on the news and we got this out more on the notion that at least it's out, and both sides are criticizing it. democrats are planning a go-slow sort of a parliamentarian way to block this or at least stagger this out. health care and related stocks, insurers are doing well. some people look at that cynically and say, well, if they're happy, i shouldn't be happy. if they're convinced this isn't going to cost them as much or when it comes to insurers, they're going to make more money on this, maybe that isn't such a good thing for those of you who have when you need that coverage, that might not be the b