tv Mornings With Maria Bartiromo FOX Business August 30, 2017 6:00am-9:00am EDT
yesterday with the stronger euro means when the big multinational translate earnings overseas, they are taking a hit on the currency front and that's a little bit of pressure and european stocks. lauren: absolutely. the provocations from north korea rattling markets yesterday. riva gold, good to see you. cheryl: that does it for us for "fbn:am." dagen mcdowell is in for maria bartiromo. starting right now. tree into good morning, everybody. i meant for maria bartiromo. your top stories at 6:00 a.m. eastern. harvey making landfall again after pummeling texas west of cameron, louisiana. the news comes as the houston area continues search and rescue efforts. president trump visited the state yesterday where he spoke about the recovery. >> the sad thing is this is long-term. nobody's ever seen anything this
long and nobody's ever seen this much water. historic, after what happened, but it happened in texas and texas can handle anything. trade to residents in the houston area but they welcomed flight. the sun finally rising go viral. harvey continues to have an impact on the energy area. reuters reporting the largest refinery in the united states shutting down due to the storm. this disruption could have a major toll on gasoline prices as they head to the holiday weekend. right now one fifth of all u.s. refining capacity is shut down and gasoline prices already a. gasoline prices of 20 cents a gallon continued to rise. features in the stock market are showing gains across the board on the dow futures after a nice
reversal of the market yesterday. blue chip of about 57 points in trading tuesday. the psyche of reading a second-quarter domestic product, our biggest reading on the economy divided it to the event eastern time could expect them to .7% growth. investors eyeing president trump on tax reform in missouri this afternoon. the commander-in-chief will outline his burden on both companies and workers. fox business will bring you special coverage of the event starting at 1:30 p.m. eastern time. europe stocks across the board are moving out. in asia overnight, markets mostly higher as well. shanghai being the only loser among the four major markets. all that in so much more. with me all morning long, political analyst kirsten haglund kelly & co. managing partner kevin kelly and republican strategists trained surrogate erin elmore.
great to see you. is this your first time on the panel? i know you've been on the program before. this breaking news, headed to missouri this afternoon to lay out his vision for a better, more favorable equitable tax system. the commander-in-chief will explain his plan to jumpstart the economy, reducing tax burden for american companies and workers from a local small business owners elected officials from missouri expected to be at that event. kevin, what you expect to hear from him today? >> i think he's really going to focus on small businesses and get them a more equitable rate. we see that tax complexity really hurt small businesses in the american worker. think about all the payroll taxes, rising health care costs really impacting the small-business community. we've had people on here talk about the last three years, 21% for employees alone has gone up
i'm in the briar forest neighborhood. the floodwaters have gone down. in this neighborhood because of the outflows from those reservoirs, water is still going up and get a first look. we've seen a lot of the floodwaters tied, exteriors of homes drowned. yesterday we got inside his flooded home. the gentleman was so kind to bring a sin for the first visit at since he left on saturday. extraordinary pictures of everything floating. that is a theme that is oliver
the two do total assessments. we had to do a few rescues again. i guess people heeded the warnings. we try to explain how dangerous it could be and we would come get them if they wanted out and we did. we spent most of the day yesterday moving people that wanted to be moved. hopefully they listen to the warnings and that made our job a lot easier last night. dagen: sheriff, do people have a way of reaching out? how much water is out? >> believe it or not, not as much as we thought. the city of sulfur has had a few transformers blow up. it is very spotty. in other words, no major outage.
i know the sheriff's office yesterday we actually lost power for 30 minutes. we have full generator power, so we can function with or without power. we are totally self-contained. we made a lot of those changes after rebate. trade u.s. going to ask a guy. you are in office for just over year after hurricane rita hit in 2005. what lessons did you learn after dealing with that hurricane as you prepare for harvey? how much different is it in terms of your readiness? >> well, i think we were ready then, but the lessons we learned is be able to take care of yourself for the first 24, 36 hours because it may be difficult for help to get to you. and we did that. we can really literally function for days. we had generators back then, but
the only operated portions of our operation. we have generators at all of our buildings. we can operate fully without any power in the know we have housing for deputies. we've done a lot of preparation, a lot of planning and it's paid off the morale of our deputies stay high because of that. we also know we've got to take good care of our family out there doing a tough job. train to be well come to be. blessings to everybody. tony mancuso, sheriff and prosecute parish. united technologies priced at $20 billion. how they are reacting to the possible megamerger. a vw recall could cause certain models to crash.
train to a new york city man charged with trying to join jesus in syria. cheryl casone has the details on that. >> that's right, good morning. accused of sending message on social media about support of the terror group in trying to join asis in saudi arabia last spring. they were stopped from entering an identified -- unidentified
country. they were arrested there. being held without bail this morning. volkswagen recalling more than 208,000 cars in the united states. the german automaker says the computer can actually lose power and cause the engine to start. the cc from the 2009 through 2016 model years. but that's not also on this list, 2006 through 2010. volkswagen says no reports of crashes in the united states caused by this problem. united technologies reportedly getting close to a deal to buy rockwell collins for more than $20 billion. it would create one of the world's biggest aircraft equipment makers. "wall street journal" says the companies discussed the per-share price for rockwell of $140, maybe less. there is a year-to-date chart as you can see. the report says the agreement could come as soon as the
beacon. docs up 38% so far this year. dagen: thank you so much commissioner appeared kevin, would he make of this deal? the dealmaking environment is healthy in part because companies feel confident enough to come together like that. it does speak to the environment residents create. >> wasting for activity this year because we expect policy decisions to be made. you are seeing a lot of big deals happening. this has been in the works for a while over the past couple weeks they are we signaling this deal will not be above shareholders to agitate. they don't want actors to come in. refer to kind of rocket to deal and they should get done and >> i speak to the regulatory environment. everybody focuses on what congress hasn't been able to get done in terms of the repeal and replace them up on the caring agenda items for what the administration has done is rolled back regulations and create an environment without
the federal trade commission, and even the fcc to make companies feel comfortable enough to get these deals done. >> a big part of president trump's platform. this just has to stop yet another example of how we are moving in the right direction. >> on top of that, it's really important to notice even on anticipation of tax reform and greater gdp growth, you see a market research in some companies like this because they have confidence things will get done eventually, even if we say here going whenever he can make a corporate tax reform. they see the environment is going to improve come as the of these markers continue to give them confidence. >> gdp numbers expected to come out today. people think it could be above 3%. dagen: we will see. i will play now president trump
is going to be in missouri today talking about tax reform. this is something he was criticized when he didn't given up on the care repeal and replace reformist in front of congress that he needed to get out there more. he's doing that for tax reform. north korea issuing threats to paul mcgann. what kim jong un is reportedly saying now and the strong reaction from our u.n. ambassador nikki haley. markets ahead of the second quarter talking about the psychic reading on the second quarter gdp. also a jobs report coming out on friday. peek into that as well when we come back.
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reversing triple digit loss there. i want to take him today in the rest of the week in terms of numbers on the economy. the psychic reading on second-quarter gdp comes out this morning. the economy to show growth of 257%. kevin kelly may be than 3%. let's bring in private wealth management advisor cat. your expectations for this and doesn't speak to the overall sound growth of the economy? >> at 257, we are modestly lower than that with what has happened with harvey in the short run, it could deter from the number perhaps the next quarter by as little as 2.4%. interestingly, you could actually see in addition to gdp as a result of replacing businesses, factories, homes. >> often as horrible as these disasters are coming as the
rebuilding and that begins immediately. you see a recovery effort and that is money that does pour into these regional economies. in terms of what is going on with harvey, we've had so much refining capacity, about one fifth down is now shut down largest in the country. we are to have exxon baytown and , second largest in the country shut down. texas all the way to new jersey. are you worried about that interesting business activity in the short run? >> in the short run, clearly going to be disruptive. i would however energy prices in the long run will follow the economy and were very good. we see oil north of 60 looking roughly 12 months from now. dagen: because of the demand side?
>> exactly. >> where only 40% off the market has right now. a lot of people feel like markets are overvalued. earnings are worth more in the low interest rate environment. what is your take on how the markets will perform going forward? i don't see any impact of regulatory changes for tax reform based in earnings estimates. can people buy the market here? can we break the all-time highs? >> a great question. all of our address is predicated on a customized financial plan which informs asset allocation and part of those are tactical changes. to get to your question, we are modestly reducing exposure here, stressed modestly in for a variety of reasons. namely to your earlier point relations had 18 points for earnings, is solely and yet fairly valued. that said, a number of reasons to be constructed on the market if you look out over the course of the intermediate to
long-term. >> bonds people are the more overvalued. dagen: at the tenure at the 10 year yield a two part 13% as a sign of it overvalued, you wouldn't allocate more of assets in u.s. treasuries. >> not necessarily. we are being tactical survey of modestly reducing exposure. as far as redeploying money come i tell clients that often times return of your money. a big part of our job is not only growing assets by preserving them. >> what is your outlook? what a tax reform doesn't happen in 2017. lafayette happens in 2018. what is your view on how that will affect small businesses. talking about larger scale, what aspect you think they'll have an small business, consumer confidence in how will that play out in the market? >> more so one small businesses and the investor for that matter. part of the rally was predicated
on the hopes of deregulation and tax reform and to some extent the market has discounted all of this occurring. we think you will get tax reform perhaps not as large as we all hoped, perhaps not quickly as we all hoped, but it's not a matter of days. it's a matter of when. >> in the 24 hour news cycle, what happens in the market, how do you manage client expect patient? dagen: that's a really good question, aaron. i had people ask me that a lot. the market did this. more and more i get those questions from individuals. >> it's not easy. i'm tethered to my iphone in your news program. the fact of the matter is it's my job to counsel people to look at things from a much wider lens and longer days. if we make decisions within the plan, and that at least goes out
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weekend. you have gasoline futures there, gain of almost 12 cents a gallon in the last session. speaking of gains, good news to report, 21-point began, after 57 point gain yesterday. nice reversal from tuesday. second reading on the second quarter gdp at 8:30 eastern time. economists are looking 2.7% growth and investors are watching president trump for his speech on tax reform in missouri this afternoon. the commander in chief will outline strategy to reduce the tax burden on both companies and workers. fox business will bring you special coverage of the event at 2:30 p.m. eastern time. we were a little early but we are always covering taxes for you on fox business. in europe stock higher across the board, england, france and germany. asia overnight same story,
slight loss in shanghai. uber taking a big step toward easing privacy concern as new company's ceo gets ready to take the wheel. they are not going track you essentially as you get out of the car anymore. that's reassuring, top story this half hour, rising tensions with north korea, the kim jong un regime is calling yesterday east ballistic missile fire over japan meaningful prelude, apparent threat to the u.s. territory of guam. un embassador nikki haley strongly condemning the hermit kingdom following yesterday's launch. >> no country should have missiles flying over them like those 130 million people in japan. it's unacceptable. they have violated every single un security council resolution that we've had, something serious has to happen. dagen: u.s. tested missile defense system off the coast of hawaii successfully shooting down a medium-range ballistic
missile. joining us this morning as trump administration, chief of external affairs, former navy seal, all options are on the table, carl, what are your thoughts? >> with america we have been primarily focused on the hurricane. these are my personal opinions, i tell you, something has to be done here. the thing that people aren't looking at is the fact that the olympics are heading 35 miles south of the dmz in the next couple of months, what are we going to do about that and is it going to be safe? kevin: they have been focused on sanctions and really chinese to come around and also push the north koreans to stop this provocation, what do you think the next best thing is to sanction the chinese banks and try to do an all-out sanctions as much as possible or where can we go from here because they haven't launched a missile over
japan since 2009 and they are starting to escalate even further now. >> here is the thing with china, interesting dynamic, economically that could do mutually destructive, think trade policies we have with them. i don't know that sanking chinese would be thing to do right. all options on the table. the first president we've had in a while who has been willing to say, we are not giving you a plan and all options are on the table. general mattis or secretary mattis right now has a monumental task on his hand on how to play this because it's a very close regime, it's one of the few ones in the world that we don't have intel inside to work off and find out where the targets are. dagen: wall street journal has editorial about the subject today, nuclear missiles over tokyo and how japan might respond, the wall street journal writes, japanese leaders have long resisted building their own nuclear arsenal but that could
change if they conclude that america isn't reliable in a crisis, this prospect should alarm china which would face a regional rival, what do you say to that? >> i mean, this is quickly spiraling out of control and this is policies of past -- the past administration that fail today put this in check. people, i've heard the media blaming on president trump and rhetoric, no, that's not it. this is a plan that was, you know, they failed america and the rest of the world quite frankly. fail today really honestly put north korea in some sort of place where they couldn't achieve this and we just didn't do it, so now president trump lands on his desk and if we have nuclear weapons aimed at each other over in the asian region, i mean, this is not good, when america drops off the stage as we did for the last eight years to become, step back, the world is not as safe place. >> carl, good morning,
embassador said that there are limited diplomatic efforts, do you see it that way? >> yes, we do. we sanctioned them, a third of their economy on the export-import side with coal and things like that going to china. it didn't work, the problem is the country so poor that people are eating bugs and frogs in the street, any sanctions that we put on them takes further resource asway from the the people and reengages to military complex, i can't see any other options other than militarily here. >> carl, kristin haglund here, all of us continue to look at the north korea situation and say what more is it going to take, what is going on, but you know, i'm curious in light of the afghanistan speech -- which was great. >> yeah, of course, in trying to secure and stabilize the middle east in that country in particular and for the people there that are struggling with very similar things like north korea, what is our true capacity
as american military to potentially handle wars or conflicts on two fronts, we haven't really seen that since world war ii, what is the state of the military and in so far readiness if there's some kind of military option to be taken in north korea? >> having served nine years in the military, the u.s. soldiers are the most lethal weapon and we are always ready to answer the call. the issue is we have families too. the constant drum beat of history expanding areas of operation is taking its toll and we will need to risk i say any advice to secretary mattis, we will need to pick our conflicts essentially in the upcoming thing. that said, afghanistan, the president was right, just pulling out and creating the the power vacuum is very bad and we might have risk of fatigue in the force. the u.s. military is anxious and willing to take any task from
the executive branch. dagen: carl, speaking of the u.s. military, something that i talked to general jack keane yesterday, talked about the storm of harvey and what's going on in texas and louisiana and in terms of the recovery efforts there, particularly your environment with america corp. 30,000 troops are ready to assist in addition, i think there are 12,000 just in the state of texas that have been at the ready and deployed. >> yeah. and thank god and to be honestly because of a little bit of public profile i have national guard troops reaching to me personally and saying what can we do many, we are on standby, just on the america corp. front, right now we are telling people to hold in place, wait for the waters to recede. there's insurance companies, hey, i have to get your insurance claim by september 1 or we are not going to cash in on it. that's based on policy because most storms don't last this long. the flood waters don't stay long this long, we are working in all
fronts, nobody should go in there at the direction local and federal authorities and the national guard is going to be a massive help. in america corp. we have 300 people helping with the shelters , prepared to go whenever we let them go. dagen: with the insurance companies, are you calling them out, hey, representing the very people who have insurance with these companies to say unacceptable? are you working the phones and putting pressure on them to do right by those people in these storm-ravaged area? >> i'm not personally but it's like if you get into a car accident, most require you 24, 48 hours to report it, same thing with these guys, they are not trying to screw people, what they're trying to do is policy based on press storms where you were able to get back 72, 126
hours later. you can't do that in this storm, i would urge people to reach out at any avenues we have to say, hey, look, it's going to take, two or three weeks for people to get back to properties. dagen: right, we encourage viewers whether problem big or small or individual to tweet us at mornings with maria and we will bring -- bring our power to bear, so to speak. thank you, carl. >> thank you very much. dagen: carl higbie, always a pleasure. uber with new ceo meets employees and faces the future of this embattled company. protecting your pacemaker, prevent hacking of these life-saving devices. see a breakdown of costs. what? it's just.... we were going to ask about it but we weren't sure when.
dagen: 27-point gain on the dow futures with the markets staying reversing, optimism still abounds despite us watching carefully the efforts to rescue people down in the texas region and recover from this catastrophic storm. we are looking at a few stocks on the move, abbott labs, one name to watch, the company released software update aimed to protect pace-makers from hacking, abbott acquired the pace-makers this year as part of st. jude medical, nearly one half of a million devices are eligible for the update, shares of abbott are up more than 30% this year, remember that was a plot line in homeland if you watched that show. we are also watching bank of america, billionaire investor warren buffet is now the company's number one shareholder, he had to acquire 700 million shares in bank of america at a below market price, take a look at the shares of america this morning.
liz claman will speak at 3:00 p.m. eastern time. major insurance company, major insurance company owner, he will have great insight into the recovery efforts after harvey. uber, incoming ceo has not even started yet but the plate is plenty full. tracee: tracee carrasco has the details. tracee: always something coming out of uber, justice department is conducting prim their investigation into whether managers at uber violated u.s. laws against bribery of foreign officials. now, specifically the foreign corrupt practices act now isn't sure if they are looking into one country or multiple countries where uber operates, uber said it is cooperating, the investigation just a latest in a series of issues that away dara khosrowshahi. the board said in part we are really fortunate to gain a
leader with dara's talent, dara is the best person to lead uber into the future and adding value to the lives of drivers and riders around the world while continuously improving culture and making uber the best place to work, that's a big one, uber announced it has ended its tracking of uber customers as they complete their ride to practice that caused immediate privacy concerns when uber added the feature in november, they said that's not related to the new ceo coming on board. dagen: this is such a massive pr problem in terms of all the problems that it's been grappling with. that was a huge issue. we made a lot out of it here because they track you for five minutes after you got out of the car. kevin: not only that, they had a program where they would track journalists. dagen: right. kevin: that was critical of
them. they didn't have a plan on how to change the culture and that's what's been pervasive throughout. they're even in a giant legal battle with alphabet over stealing trade secrets when it comes to autonomous driving. this -- we are tyking about bribing foreign officials. this is par for the course for the company. he has a huge task ahead of them and they need capital, they need to fund raise because they are burning so much cash. dagen: what about the competitors to uber, there's lyft but a number -- >> ride-sharing services are really up. juno. kevin: small competitors that are getting able together because they are able to raise a lot more capital in this environment. lyft has even raised, we are seeing that the pricing is all comparable, it's not cheaper. uber is losing market share to the start-ups or the other
competitors but it's at what point is there going to be inflection point where uber actually has to cut in order to gain more market back. last week cut the value privately down 15%, but uber won't recognize that. dagen: tracee carrasco all over the story for us. coming up, the big texas a&m college football, aggies tipping helmets in support of harvey victims, that's next
dagen: big hearts and big checks, the money continues to come in from all sides, jared max, the american sports community is making major contributions to those hit by harvey. jared: yeah, big time, dagen, when it hits the fan the best stand up tallestj.j. watt has increased the goal to $6 million. >> i have no clue how big this thing can get, how much money we can raise, i can promise that i will do every single thing that the money goes directly to people and help rebuild houston and areas around it and make sure that people get back on their feet, that's our city and that's our community. jared: j.j. watt $5.1 million in contributions with the new goal of 6 million. houston rockets owner leslie alexander has doubled initial
4 million-dollar donation. now a 10 million-dollar donation from leslie alexander and other elites writing checks, houston texan line backer donating $50,000 supporting first responders, jay bruce, a hundred thousand dollars, angel star mike trout, donating 27 grand to the red cross. houston astros and texas rangers played a three-game series last night, instead of playing in houston at minutemade park they were in st. petersburg, florida. all proceeds, tickets, parking, concessions, all goes to aid relief efforts and it's the same story for tomorrow's night preseason finale for texans and cowboys. game had to be relocated to houston in arlington, proceeds, contributions united way of
greater houston relief funds, all tickets $25. the university of houston scheduled to open college football season saturday at the university of texas san antonio, game postpone and texas a&m, 100 miles from houston at college station, they will open in rose bowl on sunday and all aggies players will wear decal and they are not alone. >> so incredible. dagen: i love seeing that. jared: yeah. dagen: you see so many people react negatively on instinct nowadays that they are very quick to insult somebody or criticize the shoes that they choose. this was instinctive and powerful and right from the heart and goes to those most in
need. jared: i think sometimes we get bored in life. we are well beyond meeting needs for basic survival and say stupid things what we don't really mean, when it hits the fan, we see humanity come together. when there isn't major news we find ways to tell interesting stories but when it hits the fan, we all step up and deliver the right product and that's when things -- good stuff here. dagen: most of us regardless of your team loyalty and affiliation were fans of j.j. watt just in terms of his strength, his athletism but this is just beyond. >> yeah, i feel like aggies are pretty typically very generous, they all have charity that is they support. i wish that the american people would look at this, we are so proud of our country men and women that are helping the rescue efforts, why does it have to take a devastating hurricane for people to come together, let's learn a lesson from this
and make this our modus operandi. jared: eventually it wore off. dagen: i still feel -- i will show you this, i feel that every day. i bought my key chain on 9/11 and i have used it every day since then and i remember the goodness and gracious and how incredible the people of new york were and we are seeing that across the country and the people in texas. jared, thank you, jared max, fox news headlines 24/7, siriusxm 115, still ahead, serious injuries, dehydration, the health risk mounting for those hit by harvey ♪
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work as well. i talked to almost all cabinet members in the past ten days and from top to bottom, they've all worked side by side with the state of texas providing everything that we needed to be able to address the enormous challenge. dagen: residents in houston area seeing a very welcome sight, the details as the sun peeks out behind clouds. harvey continues to have impact on the whole country on energy sector in particular. reuters are reporting that refinery in port arthur texas is shutting down after exxon refinery already shut, one fifth of all refining capacity is shut down. gasoline prices heading higher into the holiday weekend. we could -- they're also heading higher at the retail level. we are also keeping a very close eye on the colonial pipeline which sends gas lip from texas
all the way to up to new jersey, yesterday we were starting to have problems in the houston area, in the texas gulf coast area, we will be watching that. futures are showing a drop in crude oil but gains in gasoline and gains across the board in stocks, 32-point gain in dow futures right there. 8:30 a.m. eastern time, second reading on how fast the economy grew during the second quarter, 8:30, 2.7% growth is what we are expecting and this comes ahead of president trump's speech on tax reform, pushing tax reform in missouri this afternoon. he's going to outline the strategy, we will be looking for neglect details on what this administration wants to do to help companies and workers. loser being small drop on the shanghai.
all that and so much more, political analyst kristin haglund and kevin kelly and republican strategists and former trump surrogate erin elmore, i'm sure the president is going to be criticized being out in missouri but nice to seeing him out there pushing progrowth agenda and putting pressure on congress to get something done that he promised in the campaign trail. >> right, he basically said today is not a rally, this is a meeting, announcement, we want to get things cooking and we want to get things rolling. that's what we need to do. dagen: he can dove tail the message on helping the state of texas, because, again, it is about creating a country where jobs are plentiful and wages are growing, that ultimately, that ultimately helps everybody, prosperity particularly in times of need, that what is what we are looking for in this nation. coming up former louisiana
governor blanko is here. senior fellow at the cato institute dan mitchell, former republican candidate hermit cain. you want straight talk, go to hermit cain. joseph lengyel. you don't want to miss any of the fine guests, right now tropical storm harvey making landfall once again in louisiana. flash flood warnings now in effect across the state, neighboring texas continues to reel from devastating rains of the last five days, those rains have now surpassed the u.s. record for total rainfall from a single storm. officials say that more than 13,000 people have been rescued in the houston area and across the southern part of the state, jeff flock is in houston for us with the very latest. jeff, what are you seeing this morning? >> have come around to the other end of the briar hills neighborhood, dagen, in west
houston, same scene wherever you go, this is the reason we are here. you know, some flood waters have gone down in houston, some still going down but this one had been rising but i tell you, i just got a local resident here who came back to check his house and you said for the first time, you think you've seen a decrease, that's the first time? >> that's the first time, i have been tracking it for 36 hours, it went up an inch an hour, inch and a half, maximum 2-inches, i have been here all night. it fixed at about 11:00 and didn't change about 3:00 and at 4:00i started seeing it recede. jeff: really? >> you could tell the white on the pavement is dry. jeff: that would be the first time, they have been releasing out of the barker reservoir and when that happens that's what floods the neighborhood which could keep this going going for a long time. huge rescues yesterday, we saw
volunteer crew and numerous people, you didn't have to get rescued. >> no, no, very few in subdivision. down at the end you saw boats and kayaks, most of the people in the subdivision is out. it's not comfortable living without power. jeff: you liked it apparently, dagen, on twitter, you guys are connected in some way. [laughter] dagen: jeff, actually people -- this is not removing the focus from all the people who are impacted by the storm but a lot of people want to know how they can help at pet rescue organizations in the area, that's part of the search, rescue and recovery efforts down there. jeff: and this gets to be the tough part, i tell you, people came out with boats and this community responds. >> everybody in houston has learn today help each other and
the big reason is we are all in business, if you don't take care of customer, you won't do well. jeff: you're in the contracting business. you may have business. >> yes, more than the like. jeff: it has been extraordinary, people helping people. dagen: it really is, jeff. as my father would always say, we don't have customers, we just have friends and you are really seeing that down in texas. >> they are coming out. dagen: jeff, thank you so much for all of your reporting, we will check back with you later. tropical storm harvey has made landfall west of cameroon, louisiana, joining us now on the phone, former democratic governor kathleen blanco who led states during hurricane katrina. >> well, dagen, first i want to congratulate so many of our own citizens, we call ourself the
the cajun navy. there's such a wide ranging area where people need to be helped and flooding is the most difficult thing to deal with, whether it comes after hurricane or comes after a heavy rain. it puts so many lives in danger. >> governor, good morning, you were here in part of this and the wounds are still fresh from katrina and rita, what advice do you have for governor john bell edwards? >> well, governor bell edwards is doing a fabulous plan, we we wrote our emergency plans after katrina to reflect on the most difficult level of devastation. so everything seems to be going along but that will not take away all the frustration that will come for all the people who have been affected.
once you finish with your rescue efforts and the waters settle down, there's lots and lots of difficulty ahead. we ended up with over 300,000 housing units being totally disabled or destroyed and that in itself becomes a major problem. homeowners will -- someone will have to be working with the banking community because market holders will be -- be owing on houses that they cannot live in up to a year. dagen: you're right. reports that some of the insurance companies expect people to file claims by september the first, and ultimately if these companies don't work with all those affected areas then it falls on lawmakers who put pressure on them and falls on the media too. >> that's right, you have two problems here, we are talking
about homeowners insurance coming into play, that will cover the wind damages that were incurred from the hurricane itself but it will not cover flood damages, so that defaults back to the federal flood insurance program. that program is key to many, many recovery efforts. it also -- it's also startling, you will find that a huge percentage of people will not have flood insurance and if -- if their damage is strictly flooding and they don't have flood insurance now you have an even more critical problem. i do think that they are going to have to get extraordinary amounts of federal money, federal assistance, louisiana had to do that and in order to have a recovery. it's not people who will leave damaged properties behind in
default and that will be able a price. dagen: governor after super storm sandy, more than a 50 billion-dollar deal passed by congress that some lawmakers in the state of texas did not vote for. you start to get this fight out of washington about how quickly will people step up and really hep those in need because it's the quite frankly the government that is also in need here not just the kindness of strangers in local areas. kristin haglund has a question for you quickly. >> hi, governor, a lot of people have been asking, a lot of questions on social media about schools and obviously we are right at the start of the school season, how is this affecting with your experience, how does this affect school children, right, both in public and private schools, perhaps aren't flooded, universities going back to campus, what does disruption cause to children, where do they
go? >> in louisiana families simply relocated wherever they relocated they enrolled their children into the local schools, of course, that puts extra pressure on schools in other places but accommodations were made, you have to realize that you the teaching workforce is also in disarray. many of them will have lost their homes and it's going to be a good while before all of that gets -- gets settled, but it is important to try to stabilize your children. i'm a mother of six children myself and we never had to go through this, but i was watching and certainly empathizing with all the families from louisiana who did live through this experience and it's very challenging, but the best thing that families can do is to help
keep their children stabilized and putting them in school wherever you are is part of a good thing to do to keep that stability. dagen: governor, there are reports that port arthur, we are talking about port arthur, texas completely under water. some officials saying that county resources cannot get to people because of the flooding there but the mayor says that they are coming, curious about your reaction to that because port arthur is right there on the border with louisiana and east -- like east texas on the gulf. >> well, i'm sure that -- that they are extremely upset because this is a moving system, we've not seen this kind of activity from a hurricane before where it simply stalls out and then moves backwards and comes back in. it's just putting every kind of challenge one can imagine. something else that people may
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dagen: donald trump, jr., has agreed to be interviewed in private by the senate judiciary committee as lawmakers push to uncover russian meddling. cheryl: it wasn't claire what interview will take place, it could come as early as september, lawmakers wanted to hear from trump, jr. ever word of 2016 meeting with the russian attorney over possible information had emerged. the judiciary committee called on trump, jr. to testify, the president's son made a deal with the committee to avoid an open hearing. well, defense secretary jim mattis says they'll be no immediate change in pentagon policy on transgender crews.
president trump's direct at banning transgender people from joining the military undergoes a study by experts. apple reportedly clashing with hollywood studios over ultra ultra-high definition, apple wants to charge $20, several studios 5 to $10 more for them. apple expected to unveil the new tv, by the way, september 12th, taking a look at the sharing -- shares, isn't that pretty, dagen, back to you. dagen: it is, the new iphone better be prettier than the -- kevin: all-time high basically. they hit an all-time high yesterday, this is off on iphone 8 demand. that's what's really driving, the anticipation of it, a lot of
specs have come out of it. dagen: it better be good, tim cook. president trump offering words of strength. >> you know what, it happened in texas and texas can handle anything. dagen: more of his comments straight ahead. we follow the conditions in port arthur, texas which is said to be under water right now. and the commander in chief now head to missouri this afternoon to pitch his vision for tax reform, a closer look at his plan next. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. this is not a cloud.
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the economy by reducing tax burden for both american companies and workers. joining us dan mitchell, cato institute analyst, senior fellow, dan, what are you expecting to hear from the president and are we going to get by congress? >> going all the way back to the campaign, trump has just wanted a big tax cut, the center piece which is really good, much lower corporate tax rate but a lot of the other details, they're just telling congress, look, get your you know what together, come do an agreement and there are some big fights, what are you going to do about small business taxes, what are you going to do about middle-class relief, revenue neutrality versus a ten-year tax cut, there are lots of things still to be hashed out and as far as i can tell, the white house says, you guys figure out something, you send us a bill and we will sign it.
dagen: to the credit of mnuchin and gary cohn, they have been meeting with congressional leaders for months now and even gary cohn in interview he gave to the financial times, he said it seems like the white house is going to be pushing getting rid of state and local tax deduction as a way to generate revenue. >> the white house is encouraging this process and they're participating in the meetings with the leaders from the house and the senate and they are not sitting back waiting for the bill they are trying to work with congress to get something and there's no question given the fact that republicans are pretty weak on controlling spending, if you're going to do a big tax reform package, you had to get rid of some of the loopholes in the tax code and the state and local tax deduction is probably the worst loophole because winds up subsidizing in states like new york, california and new jersey. kevin: last time we got tax reform, it took multiple years
to get done back during reagan administration, do you think the end-all, be-all will be simple tax cut for multiple years, we won't really end a lot of the loopholes given the fact that the tax code is 75,000 pages, it's complex, convoluted and every special interest trying defend it but simple tax cut to get us through a few years, is that what's going to happen? >> in my fantasy world we would rip up 76,000 pages and have a simple and fair flat tax, i'm realistic, i've been beaten down by the reality of washington, i want at least a decent step in the right direction. now that means in an idea, again, not my fantasy world but ideal world semitax reform and let's get rid of tax reduction, let's lower rates, reduce double taxation, would it be perfect,
no, would it get rid 75,000 pages, i hope so but i'm not holding my breath on that but there's no question we can have tax code that's not nearly as destructive and as nearly as damaging to u.s. competitiveness as the one we have right now if they can simply come together and deal with some of these issues but the key thing is if you want to maximize the growth, you don't just want a tax cut that expires after ten years, you want to have at least semipermanent tax reform. dagen: we don't want it to expire, right, because businesses won't really act in a significant way if the tax cuts are going to disappear. dan, bottom line, are we going to get this by the end of the year? [laughter] >> republicans are desperate to do something after the obamacare disaster that they had. and so not only do they have their constituents breathing
down their necks, they are looking at their own political survival. they are thinking 2018 mid-term elections, they want to do something, i mean, i don't know how they solve some of the big problems, revenue neutrality versus ten-year tax cuts. i know that they have a giant incentive to get it done so for once i'm semioptimistic that they'll come into agreement. dagen: yeah, because they are worried about their own hines. >> thank you. dagen: 2:30 p.m. eastern time today. coming up a florida professor fired after saying that harvey's destruction was instant karma for texans who supported the gop, yeah, fired, and then kathy griffin has retracted her apology over posing with what appeared to be a severed bloody
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the houston historic flooding. neighbors came to the rescue of a pregnant mother as she went into labor. also a darker side to the storm. disturbing home owner warning. we had details on that. in the dating areas along the texas and louisiana border. the whole city is underwater right now. if you called we are coming. please get to higher ground. please try to stay out of addicts. an experience like we've never had before. i will type the whole country in
the whole world is really seen in gaining such respect for everybody. the job you have done is incredible. the commander in chief will outline his strategy on reducing the tax burden on companies and workers. the futures are showing gains across the board. the futures are flat at a moment. eighteen-point gain on the doubt. investors are also watching for the second reading on the second quarter in the u.s. maybe even 3%. the markets getting a boost in europe with gains in europe.
for the controversial photo with the severed head a prison term. far from over. there in houston with the very latest. good morning. the flooding continues in here just on the road behind me one of two this continues to overflow and they say they are going to be flooded here for the next four to five weeks probably until october but that's not the only problem they've got. the 14 armed robbers last night. and we spoke with a gentleman.
here's what he have to say. they have to protect yourself at the same time also. that's it i'm doing. i'm carrying a gun at all times. waiting for it to happen. that gentleman obviously taking this seriously. people become more desperate. they are stiffing the penalties there would be to to 20 years it's five to life with mandatory prison time. encouraging wary weary residents
in first responders. we are here to take care. i want to thank you for coming out. thank you everybody. what a crowd what a turnout. joining us as former fox news contributor and presidential candidate. herman cain. what did you make of his visit. in his communication. the people who have been impacted by this extreme weather they want to know that someone cares so they can get back to rebuilding their lives and they want to know that the leader of this nation cares. because this tragedy has impacted this entire nation in addition to the people of texas.
all of the people that worked for the administration and basically stay on top of it. what 12,000 national guard troops said. we were assured through the aware of fort arthur texas. this is still a developing situation. >> absolutely. that was the resources that are available and on their way to impact the area.
that is a good thing but that's not necessarily a big headline. i do believe that the administration is going to stay on top of the story because the hard part now is helping people rebuild that. i think that menstruation is can be right there. trying to help them in their process along. that will fall on congress. to pass what will be a relief effort going into the tens of billions of dollars to hurricane sandy of super storm sandy. some lawmakers down in texas would it vote for it. i want to move onto this. not just president trump but really republicans. the university of tampa professor was fired after tweeting that hurricane harvey was karma for the election. the tweet hopes of the storm
helped texas. what is your reaction to that. a lot of people are suffering some extreme losses and he is expressing what i call extreme pds. i don't feel sorry for him that he got fired. because that is simply crossing the line. one thing we know about the american people that in times like this the goodness and most of us comes out. 99.9 percent of us want to help and we want to wish the best to people and some of us even pray for them. what this instructor did he could not had been a professor
was simply disgusting. that's what i don't understand. they're just at there just in a constant state of rage about that. speaking of that comedian kathy griffin she said she's not sorry now for that photo that she took with the bluntly decapitated have of the president. >> i'm no longer start the whole outrage was bs. i got blown out of proportion and i lost everybody. i chelsea clinton tweeting against me.
i lost everybody. and then she turns around and said the apology was without make up on which i thought was the new thing signaling i'm really sorry. we didn't believe your apology in the first place. there's no need to take it back. she is giving this interview as a storm is bearing down on millions of people on the texas coast and this is what she's thinking about. she doubles down and she didn't have a hand to play. i happen to believe in it just a theory that the reason she did this was because she was no longer getting attention for her antics or her apology. so what you do. you double down. but guess what we didn't believe
her then we don't believe her now. she is grappling for some media attention and it may last i love the comment after that. the family have destroyed her. and i think that was the tearful comment. and that's maybe why she didn't get work. the emotional breakdown because of something that she did in the first place. the trump family did not destroy her her mouth destroyed her. that is the destruction that she is experiencing and now she must to shift the blame on everybody else and call it bs when in fact that on certain things that you
and i were raised if you have as harmful as that to say shut up. and now she is doubling down. when i say stupid things i will apologize for. it was good to see. and you do with make up on. because nobody needs to see me without make up on in this lifetime or the next. they are accused of price gouging on water. this is following the destruction. more video of this amazing rescue. people thinking about others and acting on it.
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fake security agents telling residents to evacuate in order to rob their home. residents should ask anyone knocking on their door for official badges and credentials. they are not conduct the enforcement operations in the area. their agents are conducting other law enforcement agencies. best buy apologizing after one of its stores in the houston area as it got busted for selling a case of water for nearly $43. the photo went viral.
after they posted a picture on social media leading to accusations of price gouging. so saint limited supply. they used it for a single bottle. and finally over and over in houston we are witnessing incredible stories of neighbor helping neighbor. andrea smith went into labor. she and her husband were preparing to deliver the baby themselves because they were trapped. they are not trained in childbirth. and then the human chain made up of their neighbors rescued her. the story happy ending. monday morning they have a little girl. >> how did the neighbors know where the in communication with the couple.
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hospitals in the region have taken steps to evacuate joining us now is dr. mike. this is one of the most critical pieces of houston's economy how can doctors in this area continue to deliver care with such limited resources. it's a very tricky situation. no one has seen a storm of this specific type of magnitude. we just saw a really great image and that hospital is not flooded within. the texas medical center did a renovation of about $50 million after the storm in 2001 and after that was done none of the facilities were flooded. the issues come from the area surrounding that. it limits access of patients coming in.
for seizures, labor delivery anything. all of those people now can get to the emergency room because of the water. you need access and by boat. that puts such a difficult strain on them to give a care even though they are opening that. they face that by emergency responders. what do you make of this. it is something that is can a need to be monitored and dealt with in the weeks to come. they were sitting hands in cans of water to the reason.
what kind of bacteria is good to be present. they really surprised the senate for disease control. they saw you never really know what kind of contamination might happen. there was an outbreak within that shelters of cases during hurricane katrina. when it live in such close proximity anything is possible. there people that are trapped or surrounded by water. see out of the water as much as you can. drowning is a serious risk of life. sharp debris that can open wound on your body which allows bacteria to enter and if you do get a cut or you do have some sort of infection going on. if you are going to be drinking water make sure that you boil the water first. that's really key here.
these medications can run out. what would you advise people to do in the situation. >> they have a really good communication with the pharmacies that do deliver and what the city of houston did very well is that they plan to have. those who were on chemotherapy regimens need certain medications. they planned ahead. they either gave them early where they redirected them to an area that was not affected by the flooding. you took care of those patients. they need to go two or three times a week to get services. they are the ones that need emergency care. that's why all of these heroes that are traveling now to help those people are the ones that i can first be affected.
is that emergency protocol for them. the homeland security homeland security department is involved with it. it's not as much as a disease issue in the beginning as the preparation for these things. they did a really good job preparing staffing -wise. during hurricane sandy. i was actually working out of luther medical center at the time. they have those coming preemptively in a basically camp out. all of the staff that is in the texan, houston area they are stuck there. that is incredible. all of the doctors.
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your top stories at 8:00 a.m. eastern. harvey making landfall again, pummeling texas now storm moving east, the mayor of port arthur texas saying his city is battered by storm posting his or ago a whole city underwater right now we are coming, if you called we are coming. president trump got a firsthand look, at what this storm is capable of yesterday. >> you are going to be working with -- on helping out the state of texas, and going to be, a coast proposition parochial never anything so expensive in country history never anything so historic in terms of damage. in terms of -- what with harvey. >> we are talking about port arthur texas harvey continues to have impact on the energy sector the largest refinery there, has shut down, because of flooding from that storm,
and refinery on top of the by atown refinery exxon shot earlier in the week you now have one all one-fifth capacity in united states shut down because of harvey as we move into the weekend gasoline prices, continue to head higher up 20 cents, rather, a gallon in the last six trading sessions, we see them heading higher again, futures in the stock market showing gains across the board, as we wait for the second reading on a second quarter gdp due out the bottom expecting growth 2.7% investors eyeing president trump's speech on tax reform, in missouri happens this afternoon the commander in chief will outline his strategy to reduce tax burden on companies and all-american workers fox will bring coverage 2:30 pm eastern time
in europe stocks higher across the board gains in england france and germany same in asia overnight, the loser a slight loss shanghai all that so much more, political analyst, kiss 10 hag lapd kevin kelly republican about strategist form trump surrogate, a pleasure one more hour a lot to cover. >> there is a september to remember we've got to raise debt eliminate pass budget tax reform and there is only 12 days where they are going to be working together, the house and the senate, can it get done who knows the president is going to -- outlay taxes and his plan for it. >> we have to come up with a front basically relief bill, funding for the recovery from harvey, and to those republicans who said they voted against the one for super storm sandy had pork in it two-thirds pork, i think what is texas said no that is actually not the case, the
case was that virtually all related to damage by super storm sandy. >> texas will need relief, tropical storm harvey landfall again in louisiana, flash flood warnings in effect across that state, as a neighborhoods texas continues to real from the devastating raining the rains and flooding, that rainfall now surpassing u.s. record for total rainfall from a single storm, 13,000 people rescued across the southeastern part of texas, this comes amid new reports out of port arthur, that there are 90 miles, from houston where mayor has warned that whole city is underwater. and residents unsure how to get out, jeff flock is houston for with us the very latest there, jeff in good morning. reporter: yeah -- dagen, we have combing through this
neighborhood close recess vorz we think everybody is out dramatic rescues yesterday people had no idea getting flooded lived here 50 years never a flood before, and yesterday -- it was you know, came up all of a sudden, because of releases from reservoir we think based on what they are saying, that harris county and flood control, they have released as much as they think they need to release, so that is good news maybe we don't get more rise, if most of the folks that are here, were here live here have gotten out that is good news, and you know, wait for floodwaters to go down only problem with that is same flood control officials said because of the reservoirs, these floodwaters could be up, in this community, until october, really -- puts -- a picture on it, that would be tough, of course, because of
the breadth of this there is a lot of people, just -- the numbers on this are just staggering, and i think that is the headlined, the positive and i want to leave with you a positive and that is, you know we have been looking at numbers of people killed in this, looking at 18 could go higher katrina that was awful one you hate to compare disasters and try to say one is worst than the other but katrina 18 dead here, 1800 dead plus in katrina. so i think that is a positive relatively small loss of life at this point. dagen: jeff thank you so much for your reporting now and always jeff foreclose no houston pentagon says up to 30,000 additional national guardsmen, troops from several states are ready to join the rescue efforts owing in texas joining us now, from the pentagon with more on military's role in efforts,
chief of the you been national guard bureau general. >> are all of these individuals going to be deployed, 30,000 number that i referenced? . >> yeah, good morning good to be with you, and you know i think time will tell how much will of 30,000 actually are needed by texas. i think it is a good news story texas, governor abbott has been very aggressive posturing the texas national guard all organic texas guard mobilized, next 24 to 48 hours on duty in support of the emergency sponsored is there we in bureau, as we talked to other 54 states, territories in district of columbia to assess what equipment they have available to offer texas to augment the texas response, in support of texas. so yet to be determined. i think i have watched this unfold the last few days, general john nickles average tabt general of texas in support of the governor has been very aggressive in asking us for what they need, and we
hear here at bureau pofrth that. dagen: o correct me if i'm wrong general in terms of the numbers talking about in texas alone 12,000 members national guard there, but after katrina we were talking to what was done after katrina those numbers closer to 50,000,individuals, who were deployed and this would certainly bring 30,000 additional troops would bring those numbers closer to katrina level. so i wondered how many do -- do you have any sense of how many individuals will be needed in this the coming weeks and months? because again, the ones individuals on the ground now they will need relief. >> no doubt about it, i will tell you we like i said the number 30,000 that is a number, that we have post ladi lated could be needed you are
right some guardsmen need to be relieved overtime as this disaster unfolds, this that is what we do we posture events katrina one model 50,000 guardsmen 20,000 arcs serving military numbers involved in that, we will see if it gets that big, we postured and identified forces, coming days and weeks as environment is more about usable we can operate better will push additional capabilities to texas as they need them. dagen: focus on houston don't want to forget storm bearing down on texas coast we heard from mayor of port arthur texas on facebook saying his city getting battered by storm passivitied posted on facebook
our wholly city underwater but we are coming if you called we are coming are more resources being deployed there general? >> you know yes, ma'am,i will tell you that the helicopters search and rescue boats all coordinated to get where they are needed the most obviously today lifesaving search-and-rescue efforts number one priority of the nation. >> port arthur, houston, needs help storm finally moves away we are getting resources to people that need them, that is one of the reasons the guard comes we bring capacity bring helicopters, boats not just guard it is all of the air force navy marine corps coast guard involved for days a well synchronized force i think you will see full force.
>> an unprecedented storm 1,000 year storm not hyperbole the response of unity of effort all agency fema entire wheel of government approach is going to come to bear so far, it is unfolding, i think in, a very organized fashion so a good news story lots of good news stories here. >> thank you so much for being here, general, take care. >> thank you very much. >> harvey hitting the energy sector the nation's largest refinery shut down because of the storm, the potential impact on gasoline prices, as we head into the holiday weekend. .
dagen: storm controversy in after math of tropical storm harvey critics accusing pastor joel osteen not opening doors of 600,000 square foot megachurch in houston to those who lot of everything officials saying doors were never closed to anyone seeking shelter joining is lakewood church senior pastor joel osteen are people at church now who need shelter? >> yes absolutely we have several hundred or may be more people sheltering right now taking care of plus collecting supplies to help people in other shelters around town. dagen: pastor when did you
start taking these people into the church? and when did you start collecting supplies? >> well, our doors have always been prepare to the very, very beginning, as soon as the waters begin to recede a couple days in we had people coming in that we took in, there is a big shelter four miles away where they house thousands city shelter once that filled occupy our shelter kicked in our church has always been open, some notions that we are closed not hear to take care of the ze not true narrative there were safety issues the building on verge of flooding water to up floodgates so first couple days, it was not acceptable for our staff for other people as well. dagen: could you not get there over the weekend? did you and your wife go to the church over the weekend? because the issue is people photographs -- following on social media, people went and photographed outside the church appears as if northbound was on the church they wanted to know if your
church was dry, then why weren't you sheltering people rather than tuesday say sunday? >> the church was not dry. people can't see everything from the distance there is a road right behind me where we have big floodgates water was close to coming over, now that water reseeds in 12 or 18 hours, but at the time was not dry, this billed flooded in 2001 when rockets -- 10 feet of water on lower floor safety issues from a distancing looks like church on a hill there are other issues two going on as well, plus our staff, and building engineers there wasn't anybody close bottom line church is open here to take care of people done it 60 years will continue to do it helping people hurting in the city right now. dagen: were you at the church over the weekend you and your wife? were you on premises. >> i was -- i was not i was
here i think friday and saturday but was not here this is a big storm, this people not able to get out of neighborhoods and things, it was it was a -- i mean obviously huge storm, and you know my niece stranded across street from billed saturday or sunday water can rise quickly bayous, we are here today can help people now whether we opened could have opened a day sooner or got word out earlier main thing we are helping people now. >> that is what i was going to ask you in hindsight would you have done anything differently over the weekend? . >> you know, i have not even looked back to think about that, i really don't -- you know probably works but you know i think the main thing is, you know safety issues, and a lot of things people don't see, but you know this church is open we don't turn people away we took neem right at the very start they wanted to go to a shelter where they have showers beds all that you know really set up today, hey
if anybody needs help we are open distributing supplies, and going to continue to do this for years to come. dagen: were you surprised at the -- outrage at reaction how people focused on you and your church? >> you know, i don't know if i was surprised i don't pay much atension to it i he know -- social media that doesn't run our life, people don't really know what we're doing don't know all the issues, you know obviously my staff told me about it, but, again, life is too short to put energy in the negative people that don't understand no fault to them but we are going to run our race be who we are called to me some people will never like me or church or person of faith i do think that noticreat that was a false narrative shb bought into can spread do go
viral, but telling our side of the story. >> you didn't have people basically seeking shelter you he did not have people in the church on sunday, for example, or tuesday or monday you had people starting coming in tuesday? >> yeah probably tuesday was the main day, but saturday and sunday were not safe here i can promise you that flooding wise everything else we had some of our pastors were in floods had to be rescued holding babies four hours in floodwaters, we somehow found boats to get them, but a huge storm, and you know a lot of different issues going on from safety, to -- you know just -- you know keeping it altogether. dagen: pastor we see what the church is doing, in terms of raising -- bringing in supplies, bringing in individuals, helping them are you going to be making a personal donation at all to any of the causes in the region? to help people in houston and
texas? >> you know victoria and i are givers all life we give give all the time i don't talk about that, of course, we are going to be doing that encouraging other people to do same today thousands of how as ton the hughes on theians will will give, we have been part of community 30 years 60 years 17 years ago housed 3,000 evacuees during katrina, so that is what lakewood is all about, we are going to continue to be who we are lifting people up helping them in time of need? i wouldn't are you going to have regular services this coming sunday? >> we are. i don't know if regular but we will have special services because we are certainly focus on the people that are displaced praying for them encouraging people celebrate we are all here pray for those that lot of lives most of us are here may not be as good as we were before we thank the lord we are here counting
today as burglarizing. >> joel thank you for being here pastor sr., pastor joel osteen lakewood church in houston thank you blessings to everybody in that community, another major merge reportedly in the works united technology looking to bulk up aerospace business we watch a impact of harvey particularly on energy sector one-fifth refining capacity shut down continually pipeline sends gas to new york city we will watch that ahead of the holiday weekend. liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat so he could get home safely. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad.
private sector. we moved back to energy, the largest u.s. crude refinery is shut down because of storm harvey, price futures -- phil flynn at cme one-fifth of all refining capacity shut down maybe more than that on top of the by atown refinery, largest in the united states, what does this continue to do to gasoline prices and after that talk about the pipeline problems you brought up first yesterday. >> right, i will tell you he yeah, this is amazing we are already seeing impact, we heard that port arthur was actually going to shut down we suspected it we saw the price of gasoline spike almost 5 cents a gal immediately as soon as that was confirmed a spike in futures market making it interesting gasoline contracts expire on monday we are going to see dramatic
moves in that area, what does that mean hang on to your wallet a situation going to see supplies of gasoline, shut down some refineries shutting down the flooding electricity, couple shutting down because they can't get the crude oil because the concerns with electricity, people on the ground, pipelines down, so this is going to be ongoing situation, that isn't going away any time soon. and that nightmare scenario that we heard breaking yesterday is colonial pipeline this is the mississippi river pipeline, there is so much oil and gasoline, in even jet fuel that goes through this pipeline, and, you know, some of the airports might have a hard time to move in places, as far away as dulles airport even in new york city, so this is a major pipeline that has to come back online we are going to see ramifications
across the economy. dagen: i want to point that out the colonial pipeline delivers fuel to charlotte airport dulles do you expect is it possible, that -- do we get gas lines in some places? . >> yeah, as far as gasoline, yes, we get gasoline, yes, this could this potentially this pipeline if down, it could potentially lead to shortages all across east coast the colonial pipeline people saying don't worry not that bad yesterday we are doing everything we can to keep it running if totally shut down i see gas shortages in all futures. dagen: great to see you. >> thank you. dagen: always, sir, phil flynn for us in chicago. quickly i want to get we got the second quarter gdp reading coming up this will be second reading on economic growth quickly your reaction to the adp report. >>t phenomenal number estimated 185,000 came in
237,000 encouraging, last month it was revised up july numbers went from 178,000 to 201,000, robust now time for fiscal policy. dagen: okay, i hope people are listening i hope those people in washington are listening second quarter gdp when we come back. who's he? he's the green money you can spend now. what's up? gonna pay some bills, maybe buy a new tennis racket. he's got a killer backhand. when it's time to get organized for retirement, it's time to get voya.
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all august 30 top stories right now, we are waiting on the second reading of economic growth in this country, determining the second quarter keep close eye on futures, 14.gain on dow futures right now waiting for this number to -- expectation is for 2.7% growth second reading on second quarter gdp got adp number private sector job creation, here we go, kevin economy grew to 3% -- >> what did i say? >> [laughter] >> -- "mornings with maria." >> awesome, i am smiling because, we all know that president trump is -- watch your twitter feed you know the president is going to be tweeting about this, what do you make of this this is above expectations above the first reading on second quarter economic growth, this is an economy that is moving into the year has picked up steam,
3%, is decent growth. >> really decent growth number considering the administration has focused on how we've had one of the worst recoveries post recession we haven't gotten -- of 3% got one on second reading that is really telling, that this economy is really resilient and really expecting that this administration is going growth, 3% reading that is about, any fiscal policy does have a lot of deregulation behind it consumer consumer confidence behind it second highest reading consumer confidence since 2000 this month consumers are happy about jobs numbers came through private payroll today 237,000 versus estimate 185 friday's job number should do well another thing about economy how robust it is volatility in the job numbers we have that, during reprieve administration, we had a good
job number bad job number so much uncertainty in the business environment, there is not a lot of uncertainty right now in business environment. dagen: because of stronger consumer spending one of the reasons uptick economy actually growing 3% economy didn't grow 3% on annual basis, for a decade. during -- the president obama's administration over 8 years never saw 3% annual growth. >> unprecedented. >> this is just one quarter though. >> unprecedented monetary policy, the federal reserve has never gone into the open markets and distorted it suppressed bond prices, bond yields to bring down to a low level so that is the are surprising -- i was -- one reason i thought hitting 3% today because of all the -- >> because you are eternal on
mist. >> 5:00 . >> this is in business spending off asset pullback in government spending that is where it came from. >> i know you are happy. >> i am so happy i just keep thinking what are certain negative outlets how are they going to spin this negatively. >> i don't know i don't think you can spin negatively. >> i don't think you can at all. >> president's twitter feed tweeting about it moments from now shifting focus back to the agenda, about those for the economy heading to missouri this afternoon for tax reform, this comes as the commander in chief surveyed devastation by harvey in texas, live in springfield missouri with preview hey, blake. reporter: high springfield missouri off route 66 america's main street this is purposely why white house chose to launch first major push explaining why there
needs overhaul of the nation's tax code multiple white house officials tell us today you can expect president trump to lay out vision lay out philosophy talking about reed to end rigged system as he sees it ending special interest loophole in tax code talking tax cuts and pay increases for the average american american family white house believes that is a winning message. >> -- spending hours a year to comply with tax code benefits those who aafford flotilla lawyers accountants to show ways around the tax code. >> however dagen do not expect any major policy announcement any details patrolled out in form of rates, and numbers, and figures et cetera, the white house is describing this as a why, not a house speech
reporting, at this point baby six put framework together relying on congressional committees to take everything from here forward and to sort of cobble votes together where numbers will fall potentially upcoming weeks and medicines the white house says the president will be doing more events as this fall approaches this will be first in a long line of tax reform speeches, and pushes, this is something dagen, certainly different as relates to health care reform as we did not see much from president on that issue. dagen: that is a very good point blake, exactly, blake burman, and don't miss our coverage of this event where blake is in missouri, that begins 2:30 pm eastern time, this afternoon. joining us now is editor in chief of the hill bob, what is your take on this this is -- just got this good news on the economy, 3% growth granted second reading we get one more reading on this numbers --
certainly year-over-year for the last 8 we haven't seen this kind of growth. >> yeah, that is very significant, and as you mentioned i think that the president is going to tweet about this that is strong suit a big deal that the economy is doing well. elections are usually about the economy, so even though you couldn't get help here see about tax reform, these numbers are very good, and that is something that i think this white house needs to talk more about. dagen: flies in face i just heard this in you been talking about to -- granted i wasn't kind of the liberal bastion that is new york city people talk negatively about economy how consumers are not spending that is no had the the case if people were down on this country would you not see this kind of growth you wouldn't see consumer sent monetary where it is individuals not spending money. >> on tax reform that is where this white house needs have to say it can get better if we
reform tax code cut taxes in that area first they have to pass a budget if able to pass a budget with tax reform language in there, they don't need democrats they just need to unite get a majority of republicans health care was very difficult but i think very interesting that the president having big thing today in missouri they need thof a better message on tags than on health care. and that is going to be the key to passage. >> also puts pressure on them publicly, to get something done, rather than just, and mnuchin, and cohn both working on this as chief economic adviser but, also, do you expect because when congressmen come back next week 12 was one thing on agenda making sure flood smurnz program can continue to borrow money only 5.8 billion dollars left to borrow but, also, it will be an aid package responding to harvey, and after super storm sandy was pushback from some
republicans including ted cruz and mick mulvaney budget director about providing this package arguing there was some pork in it. >> yeah, you are not hearing a lot from conservatives we have to offset the cost of harvey relief i don't think you are going to see a lot of voices there, i think, the harvey relief can tie into the flood insurance, extending that as well as funding the government, before heaviarvey i thought a good thought at government shutdown now i don't think to i think all in one bill it is going to pass. >> consultants on hill are looking to 2018 midterms, and congressional approval ratings at record lows in teens and below. but they need to see great job numbers as you a pointing out elections are often about jobs what is your view how next
midterm election is going to play out do you think republicans shouldering health care failure and delay an tax reform or look at unusualness usher into majority. >> i think they have to get something done oning tags whether just tax cuts or tax reform, tax cuts is easier because tax reform winners and losers, tax cuts bread and butter they have to get something done on tax cuts to run on that and economy i think if they don't get tax cuts done another failure on capitol hill i think that could deflate the base, and remember trump is not on ballot next year, and republicans need the trump voters to show up, to keep control of the house and senate, so it is just i think comes down to whether able to get tax cuts through. >> bob kevin kelly i am completely in agreement with you, on the fact they are going do have to get tax cuts they promised it this year, and there is no way they can
do reali rerm years to get done we saw with reagan administration the question has not been talked about, is infrastructure, right, and they need to get reelections in 2018, are we going to see big push in completely transition to infrastructure talk december january solely focus on that coming into the elections of 2018? >> there is a real opportunity for that, now having, because transportation initially was going to be done earlier, and now pushed back, because of tax reform and tax reform and infrastructure, initially some said mer merge are together they are going tax cuts first, transportation, then a possibility at least of a bipartisan bill conservatives would balk at cost democrats want to do something on infrastructure, so i think they are going to try to get that done but i think the election year politicize make it very difficult. >> watching this president twitter feed nothing yet. [laughter]. dagen: 3% is the number that
they talked about, and certainly that would warrant him i am checking my phone -- nothing yet. stay focused on harvey. >> we will hear this afternoon for sure thank you so much for being here. >> thank you, coming up life after harvey why small businesses could become the biggest victims of this historic storm, in the heroes of harvey, stuart varney will weigh in on the volunteer efforts to rescue those, save lives in houston during and after the catastrophic flooding. ♪ welcome back to another tennis channel court report jonathan novak day two may have been cut short by rain super stars in action between showers. >> champion is out german
disappointing 2017 went down straight sets japan. >> outplayed by 19-year-old, 16 winners in over an hour, the first defending to go out first round since 2005. elsewhere world number one sailed into round two dominate display over serbia -- closing out straight sets win in third set, look ahead to all of wednesday's action, at 8:00 a.m. eastern. ♪ .
company" stuart varney what say you -- >> it was aspiring no question about it i have gone watching all through yesterday afternoon our jeff flock was on the rescue boat pulled literally through the water by a local passer, i thought it was superb television typical of america the america i joined, you know dagen it reminded me of that movie dunkirk story of rescue 400,000 british troops on beach defeated in france in 1940 overaim a-- an armada of pleasure boats crossed the channel picked up soldiers rescued them reminded that have in houston yesterday exactly what we saw a private armada, a private boats door-to-door just ferrying people out nobody told them do
it they did it that is america i thought inspiring i expect to see more. >> i agree it is hard to not get emotional when you look at these images, of people just -- you know, acting first, don't ask just step into fray. >> the lady in the boat rescued by the passer pushing the boat through houses jeff flock interviewed her you know she was grateful, when is the last time you saw somebody in distress grateful for the help received it is usually oh there is also a complaint, whining, but not this time that lady was grateful, that meant a lot to me. >> quite frankly that is what upsets me about people sit around on twitter, who just spew vective, hate anger. >> exactly, like i just
thought that anybody who would take one second out of their day, to weigh in, on the first lady is wearing to, weigh in on what they think about a political party to weigh in on -- it anything, of -- so inconsequential need to just check their soul. >> enough already not going to dwell on nonsense on this program off yours we are all about inspiration, houston the rescue cajun navy volunteer navy inspirational gret. >> america at her benefit americans at best thank you so much stuart varney "varney & company" starts 11 1/2 minutes from now i like to be exact 9:00 a.m. eastern monday through friday mr. varney, long road to recovery after harvey how storm is impacting small businesses around houston and surrounding areas next.
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>> president trump tweeting this u.s. has been talking to north korea paying them extortion money 25 years. talking is not the answer. we want to move back to harvey, back to the gulf coast in texas, economic impact from that devastating historic storm, one estimate from moody's says that the cost of this could reach 75 billion dollars. houston's economy is one of the nation's largest and while plenty big businesses there, is the small businesses that may be hardest hit the head of small business bank of america sharon miller what are some steps that you know that these businesses are already taking, down in thank you houston area to really kind of come back from devastating storm. >> certainly it is
devastating, and my thoughts and prayers certainly with the folks in the gulf coast region, we do see when in article disasters happen like harvey that it is important that you are contacting fema that you are reaching out to understand what is your insurance, the other thing sb.a. if you are a small business owner, there are a lot of resources available for small businesses contacting your bank many have programs and we at bank of america have announced yesterday that we've donating a million dollars to the victims of harvey, and many of those are in the houston area and that whole gulf coast region. and so it is really important that you do those three things, because, we were discussing at the break 40% of businesses don't survive a natural disaster when things like this happen. >> do you coordinate a lot of -- efforts with small business administration work with them.
>> absolutely partnership with sba, programs through bank of america yes, we are here to help provide that capital for businesses, that they need, as they grow as they expand as they apply different he businesses in the area. >> sharon what causes businesses to stay closed after storms is it because the cleanup efforts are so expensive that insurance doesn't cover it or because you have a whole neighborhoods that are to devastated even if business can reopen -- in retail industry customers don't come back for sometime. >> that is right, so small businesses tough business to begin with you have on -- >> small business owner. >> yes, so you know, small business owner there is a ceo, cfo they do everything, multiple hats, really, really tough, when disasters like this strike if not capitalized
enough, didn't plan for unexpected, so you do see many small businesses going out of business, at this time. but the flip side of that there is rebuild the recovery, and there are those efforts, and a lot of businesses are created in times like about this. >> some small businesses are run by unbelievable women there is women's business -- >> are you kissing up? >> no! no. >> i am right here. >> -- just giving you just -- giving you hard time. >> entrepreneurial spirit live and well in women you see that time and time again there is even this women's, business owners report, health some booibig facts. >> women are optimistic we do survey through bank of america survey small business owners across the country to understand what are their hopes fierce, what are they thinking about next 12 months some interesting findings
looking 20 years i am a mother i have a daughter when we look at women in -- 6.2% of all ceo's fortune 500 company women, over the next 20 years, women think there will be at least half a huge increase, the other thing is spend, those have been typically losers for male dominated field again, science technology, engineering math, more and more women going into that, and that has been, that to me shows optimism in the can-do women right. >> sharon good to see you thank you. >> thank you very much dagen: sharon miller covering small businesses for us. >> thank you so much. dagen: women are very tough. >> right. >> resilient, final thoughts from our panel straight ahead. n. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this.
potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)
train to present entrance beach in springfield, missouri 2:30 p.m. eastern. now he's going to be crawling about that. final thoughts from our all-stars. >> a big day coming up. tax policy going. let's get it done by january 1, 2018. >> message to congress come you don't get a pass because the market is doing okay. >> global economy is recovering and 3% gdp growth for this past
quarter. >> for people want to help other victims of hurricane harvey, there's graphics up all morning on how to help. make sure you're not been scanned and let's pray for those who continue to suffer. stuart: blessings, all. mr. varney, take it away. stuart: i shall. it is not over. harvey is heading east very torrential rain has the texas, louisiana state line. new orleans threatened. this is still a story of ordinary americans helping each other. yes, it is inspiring. good morning, everyone. first the news overnight harvey made a second landfall now headed north and east towards louisiana. it dumped another two feet of rain in the belmont region could result in the nation's largest refinery closing. almost 20% of the country's refining capacity is now down. that is a supply pro