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tv   Mornings With Maria Bartiromo  FOX Business  February 8, 2018 6:00am-9:00am EST

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lauren: the yuan saw the biggest drop since 2015. thank you so much. >> thank you for watching "fbn:am." that is set for a spirit over to maria bartiromo. "mornings with maria." maria: good morning. happy thursday. i am maria bartiromo. your top stories right now 6:00 a.m. on the east coast. the clock is ticking on capitol hill. lawmakers reach a deal to keep the government funded. reaching a two year deal last may with an agreement that goes to a maximum increase nonmilitary domestic programs. it would take a huge toll on the deck to say. something already facing headwinds in the house. >> a trillion dollars deficit, one of the largest increases that is probably the second largest spending increase second only to obama. you know how obnoxious i was here this is not what we're about to do and you'll see the
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vast majority of caucus members and my guess is a lot of other members as well. maria: president trying to make it shut down this morning as he attends the national prayer for us to washington. we will bring you his remarks live at 8:00 a.m. eastern. join us for the national prayer breakfast this morning. the political turmoil. take a look at yesterdays performance. things calm down before the close for the dow still traded better than 500 points after the 20-point decline yesterday we are looking at another decline at the start of trading this morning. 75 points lower right now. three points on the nasdaq and seven a quarter quarter lower in the s&p 500. a big day for earnings among the top names. cvs, kellogg and viacom for the big one we watched this morning, twitter up 14 cents per share. we bring you those numbers as soon as they come and for the quarter of three quarters of 1%. europe this morning stocks are
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lower. down almost 1% as was the cac and the dax and germany done better than 1%. stocks mostly higher the exception of china. the nikkei average in japan of better than 1%. shanghai composite enjoyed that 1.5%. tesla earnings hitting the brakes with higher than expected loss. the company's road dirt into orbit sending the roadster they are why the production molds will not bring desperation down to earth. join me to talk about it, fox business that were dagen mcdowell. ryan knutson in iraq and afghanistan veteran fox news contributor pete hegseth. >> good. >> good to see you. >> good morning. dagen: i have a long list of things i know you're dying to talk about. maria: the budget deal we've been waiting on details there. dagen: is a bust. the president yesterday was tweeting i remember in the old
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days of the stock market would go up on good news. you know it is not good news is $300 billion in additional funding over two years when we doubled the national debt. when even the president won't touch entitlement and you have rising interest rates. that aside for the market is because they might be upset is additional spending for the defense department which is hardly needed. the president was not elected to be a deficit hawk. we will see how it plays out. though probably give both sides of the aisle. maria: democrats want to attach a lot of things to this spending. that the issue here. the budget caps were not to come up with the democrats know that as well. they want a customer spending. >> for them it is not bad. if everything else. dagen: conservatives used to be worried about government spending. no more to use nancy pelosi's words. >> issues still talking? dagen: now. sorry i missed all that.
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train junior congressman lee zeldin is here. i like seeing ascendancy of her former nfl star come as super bowl champions of burgess owens is here along with tony winning actor and director james nottingham. a big program ahead. another shutdown. congress set to vote on a long-term spending bill hours ahead of the debt. senate leaders raising federal spending on military spending msas the next two years. the debt limit through march 1st, 29 team but its passage is not assured in the house for some fiscal could serve as they're going to vote no here. >> this spending bill is a dead junkie's dream. in all probability, he would embark america on a trillion dollars per year at deficit until such time as we suffer
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debilitating with all the solvency that would ensue. i'm only now, i'm no. maria: chris collins on new york dear congressman, good to see you. thanks for joining us. are you also a know on the spending bill? >> i'm actually a guess. the more moderate factions of the republicans, something we call the tuesday group. for us, we are typically the northern states new york, new jersey, ohio and pennsylvania. we realize we've got a divided government and in this case, my focus was on putting all this behind us for two years. it's a two-year deal, 18 and 19 in primarily getting the proper funding for defense. we've been playing games for something they call the off books money for overseas, for the fight. finally we are spending that money anyway, wasn't technically part of the discretionary budget.
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we knew we had to put the money in for disaster relief for texas california, louisiana for the hurricanes, forest fires and floods are at $80 billion in for that. we've committed to the virgin islands and puerto rico. i don't like the deficit pieces anymore than the freedom caucus does, but at some point in time and tell him it's a hard look at the entitlements, which are two out of $3 we spend in our government. medicare, medicaid, social security, polygram contains that are not budgeted. until we have a serious discussion in our country about where we are headed on entitlements, we really have no choice we have to keep the government open. we've got to make sure we cover our disaster relief. some of best is going into infrastructure and down payment. finally recognizing in the va we need money for hospitals and other facilities.
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money for opioid abuse. so it is more money, but i am comfortable it is being spent in places where we need it and until we deal with entitlement relief, we really have no choice. >> this is pete hegseth. we are not dealing with entitlement reform here. are you confident that this is a type of funding dod needs? to deal with domestic funding does bring additional relief to the pentagon and talking to leaders in the defense department? will this fully fund the shortfall is the department has the might of the trade-off we face with our debt and deficit? >> it actually does. i had a meeting yesterday morning with the secretary of the air force and she very clearly pointed out where we are right now with the air force, having to scavenge part top of other airplanes and she's indicated this here she was counting on something like this. she's not been budgeting to the lord numbers and she basically
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was saying if something happens and we don't get it funded, the issue would be devastating to our arab men. they wouldn't be flying planes in training. our military took a big hit over eight years of obama. we've got to recognize we are fighting on many fronts. adversaries like i ran and russia and north korea. this does fully fund the military, recognizes that the military needs to put the spare parts back on the shelves. even munitions they been firing at isis have not been replaced. dagen: but i don't think that is up for debate, congressman. this is taken towel. i want to ask you, some house republicans last year proposed budget reconciliation instructions that would've cut entitlement growth justified 26% from 527%, but that was $200 billion over a decade that
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would've paid for this defense spending increase. many of the house republicans opposed it. were you part of the republican members who wanted to propose at least slowing the growth of entitlements? >> i would support him in the growth. i was not a vote we actually took that there was discussion on the mood of congress. we need democrats and republicans. we will need them here today. this is going to be considered a good bill because it's not perfect. there's parts of it that no online, but enough that we look at democrats like our freedom caucus who are likely not to vote for it. that's an indication of compromise. america wants to see some level of compromise in washington and i think that is what you'll see today and it will be great the next couple of years with our tax reform in this behind us
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that the markets don't have to worry about another shot down or defaulting on our nation's debt. finally, puerto rico, the virgin islands, it better will get the funds to be rebuilt. these dollars are necessary and the downside is the deficit, they hit that is going to, on our debt and the need to look in the mirror and say sunday we've got to do with entitlement reform. it may not be today. trump second term. >> the market will tell you all because you are going to see one of these days you'll wake up with a massive spike in borrowing costs and i would argue investors in people who love the federal government money are trying to tell you that and you come up with increase in spending of $300 billion over two years here this is the new baseline, which is the audio we played earlier. the new baseline congress will work from. a trillion and a half added to the deficit on top of 1 trillion from the tax reform.
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>> because of the additional non-discretionary spending. train to what the answer for defense? >> as a sweetener to the democrats to republicans during this 181 billion in domestic spending. >> also looking for commitments on immigration, congressman. >> we have to work on immigration. i have a lot of agriculture, lot of undocumented workers. that needs to be at discussion separate and apart and they are going to be separate and apart. the good law bill. the goodlatte bill looking under undocumented agricultural workers, with the visa program from a three-year renewable they would go back to their country, what we collect touchback for one day, coming here, then be illegal workers for three years on a renewable visa. i like that program. i support it.
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we have to milk are and pick our crops and those are not jobs americans will take. we have to deal with that as well as daca. they are now young adults. they been educated in our country. we need to be compassionate and secure the borders which is what trump has said. >> should all of this be attached to the short-term bill? house minority leader nancy pelosi took over for a record eight hours to deliver a monologue about the dreamers while demanding a vote on immigration bill. doing what needs to be done there. are you feeling hostage to attaching everything to a short-term spending bill? >> we are not testing the spending bill and i like to point out nancy pelosi is the biggest hypocrite ever born. in 2009, she along with obama,
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harry reid and schumer could help this. if 60 senators senators in the senate. they did nothing until obama was running for reelection and august of 12. he signs an executive order that gives anything but certainty to the daca kids and now she's acting like she's there to protect her. the reason they are heroes because she and obama wouldn't deal with it properly, decidedly 2009 in honda mounted or as an executive order that she has the audacity to read these letters for eight years. i was in the speaker's chair listening to it. i wanted to interrupt her. you can do that thing but i want to remind her she's the one that hung them out to dry in 2009. maria: she's right about 700,000 recipients, not the 200 active military. that is her main focus or people in this country illegally. more than 2 million members of the art of military, what about 140 million people she is ridiculed pay taxes in this
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country? i am saying again, misplaced priorities. >> is that the case? when you watch the former speaker of the house spent eight hours talking about illegal immigrants that may or may not have been here through their own volition i get that. is that not a reflection of the modern democratic party out of touch who otherwise say what about us? >> is even worse than not. this was a deliberate play by her, obama, schumer and harry reid got to deal with this in the right way because once is dealt with it's no longer political hot button issue. they kept this alive. this uncertainty caused by them on purpose. maria: they wanted as leverage. >> same thing with minimum wage. they could have raised the minimum wage. it is a great wedge point for them for them to pretend they care about minimum wage and daca
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when in fact they created the problem. maria: on to mention the national prayer breakfast taking place in washington this morning. we are going to take our viewers live there. congressman, good to see you there. we will be right back. the day after chemo might mean a trip back to the doctor's office, just for a shot. but why go back there, when you can stay home with neulasta onpro? strong chemo can put you at risk of serious infection. neulasta helps reduce infection risk by boosting your white blood cell count, which strengthens your immune system. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to
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maria: welcome back. breaking news for the president tweet about the prayer breakfast this morning. he will head over shortly to make remarks. great religious and political leaders and many friends including tv producer mark
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burnett of our wonderful 14 season apprentice tryouts will be very looking forward to seeing all. the president tweeting about the prayer breakfast. coverage this morning live at 8:00 a.m. eastern. stay with us as we take you there. meanwhile, law enforcement officer got out of the light of duty. cheryl casone with the details. >> that's right. a police officer in richardson, texas after responding to a disturbance call last night. the shooter taken into custody after an hour-long standoff out of an apartment complex with police. the second line first and officer to be killed in the line of duty this week. a busy day on the earnings front. 33 companies in the s&p 500 are set to report. we will hear from cvs house, cardinal health and twitter. earnings per share for that company expected to fall about 13% from a year ago. shares of the company right now in the premarket were under
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pressure, so just now little more than a quarter% gain on twitter in the premarket to watch. speaking of twitter, td ameritrade to place trades on twitter. the move comes as the company tries to attract the clients of the younger demographic. td ameritrade of more than 35% over the past year. interesting idea. test by reporting a $675 net loss in the fourth quarter as they continue to invest in production of the model three in nevada. after production problems last year, and expect to make 2500 model threes a week by the end of the first quarter and 5000 by the end of the second quarter. meanwhile, elon musk release the final photo of star man in his roadster that was launched in space in the powerful falcon
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heavy rocket this week. many say radiation will tear the car into bitty pieces within a year. right now star man looking good. down about 1.5%, maria. maria: thanks, cheryl casone come back, keeping an eye on markets to see the seesaw swing continues. a lot of people feel the volatility is back in a year of wild swings. we will tell you where was the next. the chance to start a family, why fertility treatment are on the rise. we will be back. ♪
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>> welcome back to rapidly tightening labor market has employees recruiting top talent with fertility treatment covered to their workers. lauren simonetti. >> talking about fertility. >> you don't look pregnant? >> really? seven months. okay. maria: you look beautiful. >> you guys are so sweet. attracting and retaining workers. 66% of companies say they will offer by next year some sort of fertility treatment whether it's covering ivf for egg freezing or options for same-sex couples. this is a big jump from 55% for the year before. very popular right now.
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people are working later into life, particularly women they have to make this expensive decision to freeze their eggs. we want to show you the newer companies six and in increasing their coverage. foursquare, any worker can get fertility coverage. pincher is now offering 20,000 as they pay. more companies getting into what our workers want. this is how we also diversify your math innkeepers tough. look at the loyalty rates. six in 10 workers are more likely to stay with the company because they were rewarded when it came to figuring out their family situation. i have a girlfriend whose husband had just switched job. she knitted ivf. her company give her nothing, fully covered under his ear they were going to switch jobs again they said no, we want another baby. >> more women in the work place in higher positions as well.
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>> more women working later in life and when you're a woman, you have to get this done by a certain age and also to diversify, same-sex couples to diversify the workforce. how expensive is egg freezing? 500 per year for storage. ibf is up to $15,000 uninsured per round per cycle and you need more than one round. >> societies and good for us because birth rates are lower and our economy needs more kids, more babies to support the economy. dagen: this is an entitlement program to raising the rates. >> that's a great point. >> i'm curious if congress does something about this to offer coverage or if they push anything through. it's become a reality.
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dagen: it becomes a religious hot button issue that the freezing of embryos, certain people feel a certain way about it. i'll leave it at that. i doubt the federal government would touch that with a blanket regulation. >> principal benefits in general are something we have to encourage. companies try to get away with not giving as many benefits as they can pay the labor market is not always this type. maria: fmi benefit any tax plan. >> paid family leave. curious to see how they pay for it. you'll be able to basically take some of your social security early and it would reduce the liability of federal government leader. that is one idea that seems loaded in the state of the union. that would be interesting. >> we will watch that. thanks so much. vice president mike pence with
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south korea's president as the olympics get underway tonight. what is not on the table? any plans by north korea to speak with the united states. delivery in under two hours, what amazon is rolling out. find out next up right here. ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. .. .. contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com.
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welcome back to thursday morning everyone. it is thursday february 8. the house has until midnight to keep the government funded after a senate leaders came together less than ideal. the compromise that we had reached will ensure that for the first time in years our armed forces well had more of the resources they need to keep america safe. it has a great deal of what the american people want. this budget deal is a genuine breakthrough. >> the members of the freedom caucus are vowing to vote no on this morning. global markets on edge once again. we are looking at a pullback of about 40 points but the
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nasdaq is positive right now. earnings driving the day. they close down about 19 points. the blue chips traded in a range of 500 points throughout the day. they also finish the date lower with the nasdaq down about 1%. declines across the board. the first monetary policy decision of the year. the ft 100 is down about 1%. the news news overnight markets closed mostly higher. president trump is set to speak at the national prayer breakfast this morning. we will have full coverage of the address. do join us for that live coverage. taking the world stage. as the olympics gets underway under tonight.
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the wall street journal this morning is reporting that largest asset manager makes direct investment in companies. that is similar to the approach of berkshire hathaway. amazon launching delivery at whole foods. we have that catch coming up. it's kicking off this half hour right here with the top story. that is markets. investors are eyeing and weary of the senate costly budget deal among other things. there is a lot of volatility. the ten year treasury note rose yesterday. on the military and domestic programs by nearly $300 billion. they also voted to increase the debt ceiling until march 20, 0019. he said look this is gonna be the in the situation this year. wild swings because of a
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number of reasons. most notably in that we are seeing a market that is up since the election still. do you think the markets are reacting to the budget battle. what i'm looking at is it yields on ten year treasury notes $300 billion of additional spending this government is heading towards the trillion dollar deficit over the next couple of years. that is to put appeared as one of the reasons why think i think you saw some volatility. when i sat down with them back in october i ask him when the budget deficit and debt becomes a priority. and he said right now growth is priority. the next question will be deficits and all. i fully understand that and growth if we pick up one point on gdp that is $2.5 trillion and more than pays for
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everything. i think we pick up much more than that. and we will hit three sooner rather than later. were not expecting a focus on the debt this year but telus implications. there are two implications. there's i think you will see playing out in this budget deal the president being in conflict with the deficit hawks in his own party. the freedom caucus could come out against this thing which forces him to work more closely with the democrats and come up with compromises. they are upward pressure on long-term interest rates. it can actually slow could actually slow growth in the long run. and could cause volatility in stock markets.
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even if there was a pickup of 1% in gdp. how much could it cover the trillion dollar deficits were about to be running. it doesn't quite add up to me. the forecast that we are looking at right now are deficits of a trillion dollars or more within the next year or two. we just put out a story a week or two ago saying the government would have to out close to a trillion dollars this year. on the face of it it does not pay for itself. the economy would have to grow a lot faster than it is growing in order to generate enough revenue. the budget deficit has gone up to years in a row. in the most recent year revenue only grew at about 1%. you need an economy that is growing faster in order for revenue to pick up. during an economic expansion.
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we did not see that because of the lack luster growth in recovery that we got during the obama years. >> it depends degen in part on how the economy is growing in the late 1990s. when a productivity boom. so the supply side of the economy was growing and workers were flooding back into the workforce. if we are using the government not to generate this growth by spending more and cutting taxes that you are getting a different kind of growth in your neck and get the kind of revenue boom that we need the thing that we are not talking about which maria talked about on the program all the time. is what is happening with entitlement spending. it doesn't look like the government is willing to go there. we are going to see advertisements all over the place with grandma and the
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wheelchair going off the cliff the question has to become when does debt become a priority. they did a deal on the budget a few months ago $47 trillion over ten years and how much do they cut? a couple billion dollars. >> if they're not going to do anything on entitlements than all of this squeeze ends up happening in this discretionary spending. and the reason they just got knocked out in the steel yesterday was that republicans and democrats decided that they did not want to bear the consequences of that squeeze in discretionary spending. the republicans care so much about. it's hurting a lot of a domestic spending programs that a lot of the democrats as
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long as i don't touch entitlements that's the kind of compromise and that they are to face. it will matter when it hits people. ultimately at what point does deficit spending actually impact the consumer at what point does our growth and spending that is out of control actually hit someone so they say that will matter now. this is why i'm watching the bond market so much right now. the bond markets vigilantes. if he died he wanted to come back to life as a bond trader. it imposes discipline on washington by pushing up long-term interest rates which also by the way hurts consumers by pushing up mortgage rates for instance we are seeing a very big disruption. the thing is yields are pretty
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low and the rest of the world. i think that is where you have to look. i'm watching every single day. what should they had cut healthcare where else where the areas to cut. $80billion in disaster release. as i can happen this year. the wall street journal has an editorial and just the title of it is that guns and butter budget. the result of the guns and butter spending and old enough to remember it was a lousy economy for a decade. with the runaway inflation and interest rates. and people felt pretty run in
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terms of the economic move. >> do you think that is what has been working its way through the stock market. let's face it. is that is what is circling the stock market as well. basically the cheap and easy money that we've had since 2008 that again people got reckless. they've been betting on everything from crypto currencies to short volatility and people think that they can believe that they are genius traders. they're just benefiting from a world my colleague makes that very point. the volatility that were seen in the markets right now is
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somewhat normal but what is behind the markets is worrying so much easy money into the financial system that it inflated access prices. you run the risks of these kind of downturns. >> we been talking about it on this program there you go. john, good to see. coming up becoming a buffet. that robert gates the approach. but on your phone's screen addiction is affecting family getaways. we are back in a minute. [music] today, a focus on innovation in the southern tier is helping build the new new york. starting with advanced manufacturing
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welcome back north korea said it has new plants plans to talk with vice president mike pence in south korea. good morning vice president pants meeting today with south korean president does one day before the winter olympics. he announced in japan a new round of sanctions intended to pressure north korea. speculation that he may meet with officials during that. they have no intention of meeting with the united united states or with the vice president. larry fink is nearing moves that brought warren buffett tremendous success. he is looking to raise $10 million capital. it is a look world's largest asset manager. in the first attempt to make such direct investments in
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company. the markets were extraordinary worldwide. from our clients they added another $380 million. we could say about $620 billion was market appreciation. shares are up about a 41 percent over the last year. look at that chart. and you just knew this move was coming after him is on what whole foods. they are offering it to our deliveries of groceries also in cincinnati ohio and virginia beach virginia. there can be able to order things like fresh fruits and vegetables from the local whole foods store. the two-hour delivery is free. amazon shares are higher in the premarket.
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republican senator ron johnson releasing an intern report. including a new text messages that draw possible connections of former president obama. two months after the fbi closed that clinton e-mail case in two months into the russia pro. there they are using bureau shorthand. talking points. he wants to know everything we are doing. it's not clear if they are referring to investigation or something else. that is a latest bombshell after that story. it's telling us every step of the way in terms of what the leadership at the fbi thought and how they really did want to obstruct the situation. they did not like where the election was going. they did not like that donald trump have run the
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presidency. the wall street journal has a story today that this text message was involved about about briefing the president on russia. they are fighting unnamed sources. senator ron johnson suggested that it was about the clinton probe. based on the timeline it was not active in august and september because president obama did go and met with vladimir putin in september of 2016. we know president obama was briefed by the cia about the russia interference in the election. the timeline scenes to suggest that this was about the russia probe and not the clinton e-mail investigation.
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he was a lead investigator at the fbi. i also want two-point out that it's as damning as the text is the fact that chuck grassley in his memo yesterday is now referring a criminal outcome here for christopher steele. yet the inspector general. there is more to come here. text messages are a look under the hood. they don't think their text messages to be read. it reveals intentions and motives we would never see from e-mails or reports for the more we see here the better. they were relied on the credibility of christopher steele for everything in terms of getting the warrant to wiretap in eight of the trump campaign.
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massive omissions of information. it's what they had been sane and refuse it with the democrats had tried to argue. that the fbi did not disclose that person nature and information came to him from the state department. this is all coming out more and more and it's incredible to see how far up the chain it went. and obama wanted to briefed on everything. it's an ineffective method of communication. there is more when we come right back.k' frank knowns northern soul, but how to set up a limited liability company... what's that mean? not so much. so he turned to his friends at legalzoom. yup! they hooked me up. we helped with his llc, contracts, and some other stuff
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are you planning a trip
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somewhere i go away but not far from your cell phone. and you might be part of the lesions of people who call themselves travel zombies those that are unable to unplug. according to baylor university college aged women spend an average of 2010 hours a day on their phone men spend eight hours a day. the screen addiction becoming increasingly significant. 50% of teenagers said they were addicted to their phones. i think were reaching a point where we are recognizing this may be a problem. the phone is useful for so many things.
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you can never need everywhere you go but then you are already getting notifications on twitter which are addicting by its very nature. it's one thing if you are working from the caribbean sea you can kinda be working. another thing to be taking snaps of yourself all day long. i have to give credit to my nieces particularly my niece -- my niece stevie. they spent hours and getting dressed up and putting on makeup to then go out and eat dinner only to sit at the table like this taking itself is of herself. are you see as is phones in the air.
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people are busy filming the concert rather than listening to the music. there is a growing movement even early engineers with facebook and apple. this is actually addicting. they want to increase the amount of time people use spending these apps. as i can help them. you say it's up to the parent. to take the phone away. twitter is just hitting the tape. nineteen cents versus 14 cents. you two had been through everything together. two boyfriends, three jobs... you're like nothing can replace brad. then liberty mutual calls...
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>> maria: welcome back. good thursday morning. thank you for joining us. i'm maria bartiromo. happy thursday. it is thursday, february 8th. your top stories right now. 7:00 a.m. on the east coast. shutdown showdown, lawmakers have until midnight tonight to reach a deal to keep the government funded. senate leaders reached a two-year deal last night with an agreement that calls for an increase in spending on military and domestic programs. it would take a big toll on the deficit. president trump could comment on the race to avoid a shutdown this morning. he's attending the national prayer breakfast in washington. we'll bring you his remarks beginning at 8:00 a.m. the political turmoil comes amid a volatile time for the market. the dow traded in a range of
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better than 500 points yesterday. this morning, after that 20 point decline on the day yesterday, and a 64 point decline on the nasdaq, we're looking at further weakness. dow industrials expected to be down 67 points this morning, the nasdaq is down 7 points, the s&p 500 is down a third. twitter is the story we're watching today. earnings coming out, 19-cents a share. that was better than expectations, revenue of $731.6 million was also better than expected. quarterly daily active usage up 12% over the past year. look what's going on with the stock. it is down, 1.5% right now. getting to the numbers, we're talking with larry haggerty who owns twit twitter shares. paris is down better than 1%. dax is down 1 1/3%. nikkei average is up better than
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1%. shanghai composite is down better than 1.5%. we have dagen mcdowell, ryan knutsen is with us this morning as well as pete hegzet is here. >> dagen: i know it was only one day but i really missed you. >> maria: i missed you. we had a lot to talk about yesterday. >> dagen: we'll get into the senator grassley letter, the steele dossier, what we know about that, text messages,. >> maria: it's incongres increds going on there. twitter earnings came in at 19-cents a share, 5-cents better than expectations. revenue was $731.6 million, also beating the estimates, which called for $686 million. user growth missed expectations. the stock has been volatile since the numbers hit the tape. initially it was down, now it's up better than 1%, better than 2% now.
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joining us is the gabelli multimedia trust portfolio manager, larry haggerty. good to see you. what do you think of the numbers? >> unthey'r?>> i think they're . the retail industry had a wonderful fourth quarter. for twitter to work, it those do two things. it has to get more people and it has to convince more people, more advertisers to monday ties thosmonetizthose so it increase. if you set up the barrier bear r twitter, it passed the barrier so it's growing faster than internet advertising. it's taking market shaimplet it'share.it's got a place at the and it's a platform and it can extend its usage into other areas. the best example of this in the internet is a chinese company called we chat, it's basically auto bic tuss iubuquitous if yo.
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they made a deal with td ameritrade so you can trade on twitter. there's an unlimited amount of things. the company in my opinion had aggressive accounting. there's a $500 million difference between basically simple ebitda which is the numbers in the income statement and the adjusted ebitda. if you're comfortable with that number, and i think here i'm comfortable with it, because i'm not looking at cash burn and cash burn terrifies me, the valuation, which is about 16 times by our calculations isn't expensive for this valuable platform. >> maria: the stock is ripping right now, it's up 6%. >> they've been struggling for a long time. now they're showing they can increase revenue. that's a big deal. what do you think the 280, switching to 280 characters has
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done to the platform? >> anything that grows the market is going to be positive. >> maria: has that grown the market? >> i'd have to look at the engagement statistics. that's really the key. the revenue, i think what i think doesn't matter. the advertisers think that it's good. and they're committing dollars and that's the metric that you want to use. >> maria: really quickly, so the 330 million monthly active views for the quarter was up 4% from a year earlier, flat from the third quarter. some of the miss is related to twitter shutting down fake accounts. that is so important for twitter to be -- to really lure more advertising dollars, is it not? twitter has been hurt by basically being seen as a platform for rage and fake people and fake accounts. if they can make it more reliable and say these are who our real users are to advertisers, that certainly
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helps. >> clearly, i think as you extend your users, when you get past hundreds of millions, there's diminishing return in user quality. not all users are going to monetize the same way. the advertisers, the principal problem with the internet is fraud, that paying for somethinr something that isn't there, a bot listening to your pitch, whatever. it looks like the advertisers are comfortable here. the key thing i think we should emphasize is it's the advertisers that matter and they are committing dollars to the platform. they're not going to do it unless it passes all the smell tests and it looks like it's passing the smell test. this is a very, very serious problem. zuckerberg is adding tens of thousands of people to try to deal with it. it has to be addressed for this technology, the internet and the advertising to go to the next level. >> maria: the stock is up 11% right now. i want to know why investors are buying into this so much right now. where does the growth come from?
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td ameritrade, you mentioned the story earlier that they did a deal with ameritrade. td ameritrade is letting customers initialize trade over twitter to attract younger investors. this will use a similar chat bot to the one launched on facebook in august or is the growth from advertising? >> i think what you're seeing from the stock, maria, is the growth is from a conversion of investment skeptics. one of the shortest books in the world were those investors that didn't like facebook. there were a lot of investors that didn't like twitter. mr. dorsey's been in and out. it's been a revolving door. have you a lot of skepticism. these numbers really throw water on the skeptics. >> maria: go ahead, pete. >> facebook and snapchat have reported the number of daily users. twitter has not until now. will they disclose that and will that matter? >> i think the better number is
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monthly. >> total users is one thing. how actively they're using is what people care about. >> somebody's actively using it. your sister network featured a story on smartphone addiction and they -- >> maria: we just talked about that too. >> the kids are all over the place and this has got to be one of the major venues for them to use the internet. probably it's success. i would like to de-emphasize daily users and emphasize monthly users. >> maria: does it bother you about anthony nodo -- you covered this. he's leaving the company after the end of the month after four years on the board. a lot of people attribute the recovery of the company to anthony nodo. they're going to divvy up the responsibility among executives instead of filling that role. i want to get your take on that. >> video's been a big part of their growth. they have a deal with blumberg where they live news going on. making the platform for mature
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is better for them, to your point about the rage and the fake users. that will help them clean that up a bit which will make it a better place where there's actually high quality content. >> maria: anthony nodo leaving, a big deal? >> i had a long relationship with anthony. i think the world of him. he has the ability, which few people have, to understand when he's been wrong and do something about it. >> maria: first he was an analyst. >> you learn that when you're an analyst. no one's ever right. it's very clear, he's a very, very no-nonsense guy. he's a west point gra graduate. he comes in and puts some military discipline into the operation. >> maria: he did that and now he's leaving. >> i think he wanted to run the show. that's pretty hard to do. >> maria: he didn't get the ceo job, so that's why he's leaving, you thinker? >think?>> that would be my gues.
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>> maria: is it a blow to the company that he's leaving? >> the foundation is there. at the end of the day, the critical variable in this company is convincing the advertisers that this is a safe and valuable mechanism for their -- for them to transmit their commercial messages, and i think the answer in this quarter is loud and clear, that it is. if it has a place at the table and a place at the table where actually it's going to be eating more food versus its competitors, clearly the multiple that people are paying for this is not in any way, shape or form excessive. >> maria: you said it was 17. >> yes. >> maria: so the stock escaped the sell-off yesterday. give us your sense of investing today. your portfolio is largely media telecom, correct? >> yes. >> maria: how do you want to approach that sector or your portfolio in an environment where these wild swings are getting bigger? >> we want to be in companies that are gaining market share, but we don't want to pay too much for them. so we have some problems with
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some investments and we are also ruthlessly disciplined about the generation of cash flow, so that if we look at the growth, we look at the cash flow that's being generated, and the multiples and we look at interest rates, which are going up, which is a big problem eventually, if not today, if not next week, but eventually, higher interest rates work and they impede multiples and they impede the markets. so right now we're really pretty aggressive and the ad market is terrific. the consumer market is terrific. income's growing. oil prices are down. the dollar is weak, which means foreign translation of ad dollars is better for the u.s. owners. so you have pretty much an optimal situation. when things are as good as they are right now, maria, you have to be careful because the
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varmints are out there somewhere or other. we're bullish but vigilant. we're pretty much fully invested here in the fund. >> maria: you've been making money while you're sitting there. the stock is up 13%. >> dagen: through yesterday's close, up 47% in the last 12 months. talking about ripping. >> maria: the stock that's wildly outperform the market does this on earnings. >> this is imminently rational. that it did what it did yesterday is much more interesting. i'm sure somebody in washington at the s.e.c. is perhaps interested in who was trading the stock yesterday. i was watching the stock. if i was at the racetrack i would have taken the over on this one. >> maria: is there anything you would sell right now in tech? >> i'm very, very skeptical,
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maria, of netflix. it's 100 times cash flow. disney's getting in the business. it's 10 times cash flow. that's a messy stew pot. >> maria: 100 times cash flow while everybody's trying to come up with new content. amazon is paying billions for new content. >> disney will watc launch their o.t.t. platform. they're directly going after netflix. >> there used to be 200 serialized productions in the works in a year. and now it's 400. and there's not enough time to watch them all. somebody's going to be ending up holding the bag and writing off the season. >> maria: i watch them all and they're over-paying for a lot of garbage. >> there aren't that many good writers. there aren't that many good stories. that's my skeptical side. >> maria: that's good sight. insight. good to see you. still to come, making a splash
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with the me too movement. the sports illustrated swimsuit edition is embracing women empowerment. we'll show you how. space to cloud 9, millions of fans blocking to philly this morning to welcome home the super bowl champs. big plans for the victory parade coming up. we'll be back in a minute. hold together. a little to the left. 1, 2, 3, push! easy! easy! easy! (horn honking) alright! alright! we've all got places to go! we've all got places to go! washington crossing the delaware turnpike? surprising. what's not surprising? how much money sean saved by switching to geico.
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big man with a horn. fifteen minutes could save you fifteen percent or more.
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>> maria: welcome back. now that steve wynn has stepped down as ceo of wi wynn resorts following allegations of sexual misconduct, the attention is shifting for the board of directors. >> gambling regulators of massachusetts are investigating win and the conduct of the company's board. wynn and the company are also being sued by a shareholder, claiming the board turned a blind eye to the allegations against wynn. steve wynn denied any wrong-doing. shares of wynn resorts have rallied since he stepped down earlier this week. there's the stock today. >> model kate upton who was named sports illustrated govern girl for 2017 is joining the me too movement. he is accusing the guess
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co-owner of forcibly grabbing her and kissing her. she said when she resisted he called her a fat pig and i fired her frohefired her from the pho. she said the incident made her consider quitting modeling. when she tweeted about this last week, it hurt shares of guess. the stocks took a hit last week. they are up 20% overall over the last year. sports illustrated honoring the ongoing me too movement in the annual swimsuit issue. models are posing nude with various words written across their bodies that describes them. the words include "natural," "human" and "truttruth." yum and grub hub are joining up. you can order your meals online
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and you can pick it up or getting delivered. yum shares are up 21% over the past year. those are your headlines. >> maria: thank you so much. sports illustrated, i mean -- >> >> dagen: sending the message that in order to get ahead in the world as a woman you need to be pretty and make it. >> maria: rather than be closed and use your noggin. >> a better message would have been to have the whole sports illustrated with women in work clothes, like business suits. >> i don't get it at all. >> maria: two steps forward, one step back. >> dagen: it's not about mother nature and how you were born, it's how you use what was given you right here. >> maria: when we come back, a band-aid for health care, how a new start-up is helping hospitals across the country cope with staff shortages. that's where the jobs are in the country. then president trump addresses the national prayer breakfast in
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just under an hour. we'll take you there live, what to expect from his speech at that annual evidence event. stay with us. back in a minute.
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>> maria: welcome back. industries across the country facing labor shortages. one sector really seeing the big shortages are health care. one start-up is helping fill the gap in staffing by taking a page out of airbnb's playbook. joining me right now is alexi nozum. i love the way you talk about
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how this process works. we know that's where the jobs are, health care. and there's a need for nurses and medical staff. tell us how know ma nomad works. it's almost like freelancing in terms of nursing, right? >> that's exactly right. health care is the largest source of jobs in the united states. the market is very tight. hiring efficiently is very important. it's exactly what nomad does. it's by far the most efficient, most cost effective way of hiring doctors and nurses for freelance work. >> maria: how do they get paid? >> basically the way it works is a hospital or clinic comes to us, say we've got a need for short-term. they'll post the positions on nomad. we have a large network of clinicians who we match to those jobs and then we organize all of that intermediate work, the background checking, et cetera. hospital pays us, we pay the nurse. >> maria: that sounds fascinating. it's a big opportunity for people because of this massive shortage that we're seeing.
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what's your take on why the shortage is happening? is it because we're living longer? what in. >> multi-factorial. the graying of america is a real thing. the baby boom generation is aging into this 65 plus bracket. every day, 10,000 americans turn 65. >> maria: and we're living longer. >> over the age of 65 you require three times as much health care. so just the demand for health care services is exploding and that's why we just need so many more doctors and nurses. >> maria: i know every week, every month when we do the jobs numbers we focus on where the jobs are, we're identifying them. i know health care has been up there for a lot of years. >> amazingly, last month for the first time since the bls has been tracking health care, surpassed retail as the largest source of jobs in the economy. >> maria: we saw that coming. you announced an expansion into the new york market. tell us about nomad, how big of a deal is it for the company? what cities are next? what are you doing in new york?
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>> we're growing quickly. we doubled down in new york. we expanded to a number of other states as well. we're in about a dozen states currently. the size of our market is tripled in the last few months and we're continuing to grow at that pace every quarter. so we're planning to be nationwide hopefully by the end of the year. >> maria: what are your thoughts on the amazon effect? we know that there's a deal, cvs and aetna, there's a partnership between amazon, berkshire hat hahathaway, jp morgan chase. >> it's an exciting time for health care right now. the jpm and amazon, berkshire thing last week, it's just so cool. it's not so much the what, but the who, that you have innovators coming from other industries. they decided we're not going to wait for everybody else to figure out how stuff works. i love that amazon is saying we're going to build this just for ourselves, for our own employees. that's what they did with amazon web services, they built it for
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their own warehouse. >> maria: they do it for themselves and they put competition into the market. that will shake up prices. >> it's a wake-up call for health care. we cannot keep doing what we're doing. we can't be different if we stay the same. >> maria: how do nurses and professionals in the medical field become part of your network? you say when a nurse has to get paid and they're basically putting them into the system in a freelance way, how do you identify those nurses to become part of your network? >> they're coming from all over the place. one of the most important things is just referral. people have good experiences on nomad. >> maria: medical record of mouth. >> maria: word of mouth. >> we also do marketing. we work with schools and residencies. doctors and nurses want to answer the call and see patients. this is an easy way to get to the bedside. nomad removes so much of the friction to get hired. it allows doctors and nurses to do what they want to do, which is practice medicine. >> maria: thank you so much. when we come back, another
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shutdown showdown on capitol hill. lawmakers racing to make a deal before a deadline of midnight tonight. why the proposal from the senate will likely face pushback from the house. dozens of ways to express yourself, from raccoons to redheads, we'll look at the new emojis coming to a phone near you later. back in a minute.
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>> maria: good thursday morning many welcome back. thanks for joining us. i'm maria bartiromo. it is thursday, february 8th. your top stories right now. 7:37:30 a.m. on the east coast. global markets are lower after several days of nervousness. take a look at where we stand. dow industrials are expected to be flat at the opening of trading after a wild week. the dow closed down 19 points yesterday. it was that 500 point range that most people talked about. the l volatilit volatility beine s&p 500 and the nasdaq also finished lower yesterday. in europe, declines across the board. the bank of england announced they will keep interest rates unchanged. the central bank said it will be raising rates this year faster and sooner than previously expected. not a big change, markets were down ahead of the bank of england's decision. there's still weakness there. in asia overnight, weakness in
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most -- in chinese markets, rather, but in japan stocks were up better than 1%. shanghai composite, the only loser in asia. showdown on capitol hill to report. lawmakers have until midnight tonight to avert a government shutdown. senate leaders struck a deal that calls for an increase in spending on military and domestic programs and it is also raising the deficit. sarah huckabee sanders is calling on democrats to get on-board. >> we made it clear that the budget deal should be a budget deal and members of congress, like nancy pelosi, should not hold our military hostage over a separate issue. we've laid out what we would like to see in immigration legislation and i think it's something that nancy pelosi should support and hopefully she will come on-board. >> maria: a closer look at the spending debate on capitol hill this morning coming up.
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president trump is set to speak at the national prayer breakfast this morning. we'll have full coverage of the address, beginning at 8:00 a.m. eastern. join us for that. in west philadelphia, the party will rage. eagles fans getting ready to hit the streets to celebrate the eagles' first ever super bowl victory with a massive parade today. we'll tell you about it. then twitter shares are ripping this morning. take a look. the social media company reporting its first profit as a public company and the company's earnings and revenue were above expectations. we watched the stock go from down as soon as the numbers hit the tape to up 1%, 2, 3, 4, 5, 6, up 17% right now on twitter. we are following that. now to our top story this half hour. senate strikes a deal. congress is set to vote on a spending deal tonight that boosts military and domestic spending by close to $300 million over the next two years while suspended the debt cap until march of 2019. lawmakers must agree on spending levels by midnight tonight to avoid a shut down.
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joining me right now is donald a pearson. thank you for joining us. >> great to be here. good morning. >> maria: what do you think in terms of the budget deal? do you think it passes and what does that say about the president in terms of his involvement? >> i do think it passes. i know that the house republicans, specifically the freedom caucus, will have to really do some soul-searching to support this particular plan. this is just a framework, however. but it's going to be tough. we can't pretend that there aren't some things in there that will be difficult for freedom caucus members when it comes to government spending and things like that, without any cuts. these are the people that have to come home to their districts, they have to explain why they're not just voting against their own principles, but against the party platform. but i think, however, if it is packaged as a bipartisan deal, something that forces daca to stand alone, something that does put in place a framework to move
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forward, they're going to have six weeks to do appropriations, it will be incumbent upon them to make sure that money is spent appropriately. >> maria: we heard from mark meadows and jim jordan. they're not liking the spending that we're talking about here. >> dagen: no, $131 billion. if you go through the lisses. thilist, thisis $131 billion mon discretionary spending over the next two years. here's the issue. the baseline now is set even higher and the list of spending wants and what the democrats got is quite long. $6 billion for the opioid crisis. that's great. but can the communities that will receive the money even absorb it at this point? they got $1 billion. congress allocated $1 billion for state grants in a 2016 law. there's no tracking of the money. >> maria: there's stuff they didn't expect, like the disaster relief. >> dagen: throw money at the problem, and i'll raise
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this issue, you watch the bond market when this was announced yesterday. we're paying less than 3% every year to borrow over a 10 year period. but the bond market is telling everybody that the debt and deficits in this country are becoming a problem and look out wbelow. >> dagen, i agree with you. it's been a problem. we have to remind the viewers how the people ended up in congress. it was to prevent the increasing of the debt and the deficit and to get government spending under control which is yet to be seen. we he have recently, earnings tt was done of the logistics agency which somehow lost $800 million in construction projects. people are looking at this saying there has never been accountability in these areas, how will we get this under control. i'm saying republicans are in control. they can take care of the accountability and where this money goes. >> you're in the business of
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policy. how often is it useful for this president to be at odds with the most conservative members of his caucus? you've got the freedom caucus and others saying this just blows open the budget and debt and deficit, yet the president likely to make the deal crossing over the aisle with democrats. is there some point at which his base is frustrated with that or is it able to chart his own course as a deal maker? >> with this particular proposal, pete, i've got to tell you, the daca thing was really scary to the base. this gives the republicans a chance to separate that and deal with it as a separate issue. if this is something they could do for a two-year deal to put in the framework to get some of these projects off the ground, i think the base is willing to support that. i will say, the president has been very much involved and engaged but he's also allowing congress to handle this. hays how it needthat's how it ne handled. if there's an issue, now is the time for the freedom caucus to outline the issues and put out
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the solutions. >> maria: we want to get into the text message turmoil. new text messages between the fbi officials, peter strzok and lisa paige have been released. they suggest then president obama had an interest in the probe as well. one of the texts said poe tuss s wants to know everything we're doing. in one text strzok and page were talking about the talking points they were putting together for james comey. potus wants to know everything we're doing was in one of the texts. your take on that? >> this reminds me that when president obama said he had no idea that hillary was operating a secret server. we later found out he was. mailine-mailing her on it. we have to know the full context of the text messages. i want to see the messages on the other phones that were alluded to in this exchange. it's unfortunate that we're here today, having this discussion, knowing that there were
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individuals operating in the fbi against the city president of the united states and operating against him during the political campaign and they still have jobs. i think it's outrageous. i think people are frustrated. i don't think the media is paying enough attention, the main stream media, to what is happening here. people are furious. >> maria: it's also the graham memo, the grassley, graham referral, they're referring to criminal charges basically. senator strzok, grassley, linted lindsey graham referring to the memo released last week by you in knees. in thnunes. there is information that mr. steel receive steele receive information from the dossier from the state department. >> dagen: this is in the wall street journal editorial page. trey gowdy alluded to this by name. this information was being fed
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into the state department busied anby sidney blumenthal. the dossier was funded indirectly by the clinton campaign and the democratic committee. that was not disclosed to the fisa court. the letter from senator grassley and senator graham confirmed that. this is something the democrats pushed back on. it was not disclosed, the partisan nature of the dossier. some of the information in the dossier also, based on the reporting, came from sidney blumenthal, fed through the state department. sidney blumen shale wa blumenthd from an official position by president obama. he was giving hillary clinton policy and political of onl adva the private e-mail server. the clinton campaign has their hands all over this. >> maria: they paid for it. some of the info came from it.
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they used that as a reason to wiretap an aid of donald trump. >> this is all - -- investigatis get started from all sorts of reasons from all sorts of claims all the time. regardless of how things come about. what matters is that you look into it and make a decision about what the importance is. >> maria: the dossier that they were using, even though it was all unverified information, they used that to base a warrant from the fisa court hand the and thet four times. >> you're not supposed to submit anything to the fisa court that wasn't vair fight. verified. the entire thing was unverified. investigate all you want. let's investigate the investigators. they haven't been. if hillary clinton was elected it would have been swept under the rug. >> a warrant is not a conviction. they're not convicting people based on unverified information.
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>> maria: your spying on an american citizen. >> it's obviously very serious. the fisa court in general, there's a lot more concerns. the warrants are usually the things that people are not that concerned about. >> dagen: maria noticed this day one at the democratic national convention. we have talked about this, that the democrats were pushing this narrative, that the trump campaign was colluding with the russians to hack the election. >> they said after the election they were going to go for that. >> maria: this shows it was indeed the clintons, their money and their cronies that were pushing this narrative. >> maria: i knew it from day one because it was so obvious what they had done. we were at the democratic national convention and debbie wasserman schultz, it all became clear, it was her convention, the leader of the convention had to step down.
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in like an hour, that was off the front pages. the democrats got in line and they started talking only about collusion between trump and the russians and i thought sitting there when we were live, we were doing the show live that week from philly and i'm thinking to myself how is this possible. debbie wasserman schultz just got pushed out. how did this catch fire so much that there's collusion between trump and russia. i don't get it. it was such a lie. it was so obvious. that's how i knew it right away. katrina, you watched it happen as well. >> absolutely. i have to disagree with one of your panelists. apparently spying on american citizens is not important, particularly to the mainstream media or the democrats, considering how they've been fighting tooth an nail and nailt transparency on this issue. the house sent a letter requesting a transcript from the fisa hearings. we need to get to the bottom of that. that's what happened. american citizens were being spied on for political purposes.
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hillary clinton's e-mail scandal was exonerated the same month that the enterprise investigation was opened unif trump russia collusion. >> maria: he was a person of interest, carter page paige bece of the past. they did it because they could. >> this was george pa papadoplo. >> maria: well bwe'll be back ia minute with more.r ssibly pass it down to you one day. oh. cool. but before you decide, you should know that chevy silverados are the most dependable, longest lasting full-size pickups on the road. which means that ford f-150s are not. (giggles) which truck would you pick? the chevy.
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there you go. boom. that was obvious. plus it looks cooler. no doubt about it. now they know what to get me. a trip back to the dthe doctor's office, mean just for a shot. but why go back there, when you can stay home, with neulasta onpro? strong chemo can put you at risk of serious infection, which could lead to hospitalizations. in a key study, neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. applied the day of chemo,
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from the 2008-2011 model years. national highway traffic safety began investigating the problem back in 2016, following dozens of complaints. harley davidson says the recall would cost them nearly $30 million. shares of the company down about 14% from a year ago, part of that of course is slowing sales and demand for hogs. 157 new emojis are set to hit your phones later this year. get excited, folks. new expressions like a whozzyozy face, where you can show your friends if you're freezing or burning up and you can turn into a superhero. there's all kinds of races and genders and colors. there's new animals, including the hippo and llama emoji. and then there's always food. cupcakes and bagels and leafy greens if dagen wants to emoji
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her salad out there. redheads get excited, it's all about you. there's more hair styles and colors and of course the head reds are being represented. finally, there's this, an alarming new study of the role that drowsy driving plays in causing accidents. triple a says the problem is a factor in nearly 10% of all crashes. that's a lot higher than the federal estimate of 1% or 2% of accidents. triple triple amtriple a lookedo from many accidents. it's a huge disparity between what the federal government and triple a found. they have video of people falling asleep behind the wheel. >> maria: it's harder to hide when things like this happen because of technology in the car. insurance companies will have direct access to that. it's another reason for driverless cars. >> the crash rates are increasing. road fatalities are up after
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declining for decades, they're starting to rise again. a lot of that is attributed to smartphones and distracted driving. being tired is like driving drunk, basically. >> it's not just an argument for driverless cars. you know the divets they hut on the side oput onthe side of theu go off the side of the road when it's late at night, those things on the side of the road that remind you you're going off the track. >> maria: you don't need to remind us about sleepiness. >> dagen: i've been driving down to virginia, taking care of my mom. i'll hammer down 16 hours of driving in two days. >> been there. >> dagen: i have to put the windows down in the middle of the winter to stay awake. >> good tactic. >> dagen: it's very serious. but again, driverless cars -- >> i don't trust them. >> maria: you wouldn't get into a driverless car? >> not a chance. i would rather have a bad
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driver. >> maria: at least you know a driverless car is not sleepy, not texting. >> what if the algorithm is wrong? >> maria: we'll go through the streets of fil philadelphia comg up. the eagles' victory parade is on. back in a minute. it's time for the 'ultimate sleep number event' on the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. and snoring? does your bed do that? right now during the ultimate sleep number event, save 50% on the ultimate limited edition bed with adjustable comfort on both sides. ends soon. visit sleepnumber.com for a store near you. something we all think about as we head into retirement. it's why brighthouse financial is committed to help protect what you've earned and ensure it lasts. introducing shield annuities, a line of products that allow you to take advantage of growth opportunities.
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it runs north to south, through the heart of the city. it just so happens to wind up down by lincoln financial field. it may only be 100 feet wide, but we'll find a way to make room. >> maria: the philadelphia eagles getting fans hyped up for their celebration parade happening later today. officials expect millions of people to crowd the streets to see super bowl lii champions. our next guest is a former oakland raider who won super
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bowl xv against the eagles in 1981. joins us now is bur jesgess owe. what is philadelphia feeling this morning, since you've been there? >> congratulations, first of all. not only did i play against the eagles in 1981. i lived in the philadelphia area for 20 years. the philadelphia fans really deserve it. they've been waiting for a long time and to have they have a cy organization. this was a team that i was drawn to as i listened to the coach, the quarterbacks. they have a team that stuck together all year. congratulations, they deserve it. we'll see how long it lasts, how long we continue this process. >> maria: how important is this for the team? the parade today, the celebration, getting around the eagles, i mean, you were there, how important is -- what does it mean in terms of the impact of today and the celebration and
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the victory? >> it means a lot for the players and for the fans, obviously. i'll say this. i made a big mistake during my era when i -- we won super bowl xv. i took the first flight out to get back home. i missed the parade. i'll always regret not being able -- there's a couple of us that did that. i regret not being there with the guys, enjoying it. those moments don't come back. >> maria: you've got to be there with the team to celebrate. >> dagen: they could have avoided the level of rioting that we saw in the city of brotherly love. let's destroy -- let's just destroy the city as we celebrate the eagles' victory. >> eagles fans, they'll get it right if they get there another couple of times. that's part of the process. they were waiting so long. next time they'll act like they've been there before. that's part of it as well.
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>> maria: they were able to do this with a back-up quarterback. >> it was a great year for them. >> what do you think that was like for a back-up quarterback. nick foles decided to come back for one more season and gets the super bowl mvp. what must that have felt like for him? >> we had somewhat of the same experience. we had jim plunkett, a comeback quarterback for that year. it's an amazing feeling when things are happening, you get the rid that this is the right team, these are the right guys. they start to focus on all the things to make sure they don't let the team down. i congratulate them. it's a storybook story and it was great for the fans and for that team. we'll see what happens, what they'll do with the quarterback situation. they've got good ta talent for sure. >> maria: good to see you, sir. we'll be right back. estors even. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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i'm maria bartiromo, thursday, february 8 your top stories right now 8:00 a.m. on the east coast, the clock ticking on capitol hill once again, lawmakers have until tonight midnight to reach a deal to keep the government funded, senate leaders reached a two-year deal a lot of nightly with agreement, that calls for a big increase in spending on the military, and domestic programs would take a toll on the deficit, something that could face trouble, in the house. >> we believe that the number that is being put forth on -- side of things is very difficult to support you need time able to fund military that is a good day, at what
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cost. >> i k are the president close permanent friend, and even if he called me asked me to vote for this i am afraid the answer would still be no. maria: the president made comments on this, to avoid a shutdown this morning attending national prayer brefs in washington petition on left going to take you he back there, live, once it gets under way the president makes remarks -- the national prayer break favt momentarily, ebb take you there once it gets under way this is happening, by the way, in middle of political turmoil volatility to the stock market, things calmed yesterday before the close the market traded down about 20 points but the range and volatility throughout the day, a range of 500 points that had people talking volatility, is back. nasdaq down 1% yesterday futures have reversed course entirely this morning expecting a rally at start of trading today, dow industrials up 50 points now nasdaq, s&p 500 higher and this has to do
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with earnings earnings driving the day, the top name we have been watching so far, has been twitter, company reported earnings 19 cents a share above estimates we are now looking at a big rally this is high of the morning for twitter up 21%, social media company reporting first profit, as a public company, the stock is set to open at a two-year high better than two-year high actually, up 20 and one half percent we know they did a deal with td ameritrade to trade stock on twitter in europe news there as well bank of england had meeting keep interest rates unchanged central bank said it could raise rates this year faster sooner than expected, markets stable there ft 100 down as all averages in europe, in asia overnight, stocks mostly higher with exception of china all stories coming up thursday morning joining me to break it down fox business network dagen mcdowell "the wall street journal" telecom reporter, and iraq, afghanistan war vote ran fox news contributor pete
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hegseth. >> great to see you you talk about military spending are you happy with what is on table. >> i am haef with defense discretionary more defense than about domestic discretionary spending if series about budget you have to tackle entitlements this does nothing about that in a volatile world where we haven't been keeping up with training, maintenance of military, i am happy any time we add to that bottom line has been devastated by sequestration, this addresses that does not get it all to debt and deficit serious problem. maria: do you attribute the accidents that we have seen in navy -- >> absolutely. >> -- to the equipment. >> i are not maintaining not training you are not as equipped as you should be not as up 20 date as should you be you are stealing from one operating system to give to another adds up. >> we know where growth of the spending is. dagen: in entitlements, until you reform entitlements i am wagging my finger like nancy pelosi.
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[laughter]. dagen: that is greatest threat to national defense is the fact that our -- our spending, and our economy will be swamped by medicare medicaid social security i will quote from "the wall street journal" editorial page entitlement reform must happen or will be defending ourselves against kim jong-un's nuclear missiles with medicare check. >> is that gins and brurt -- >> guns and butter i had to explain ryan so young what guns and butter origin from lbj administration creation of medicare vast moments of money on vietnam war what did we get 1970s stumpink to high heaven. >> the prayer in washington congress to vote on two-year spending deal forged by senate leaders they are hoping to avoid the government shut down
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set for midnight tonight blake burman live at white house this morning, with the very latest, blake, over to you. reporter: maria good morning to you check books opening up, up on capitol hill deal negotiated by congressional leadership called for additional 300 billion dollars roughly in new spending over the next two years, while also keeping the government funded flew march 23 president trump yesterday he imploring for page writing on twittered the budget agreement today so important for are great military ends dangerous he sequester gives secretary mattis what he needs to keep america great republicans democrats must support our troops support this bill. the defense secretary, mattis, came to the wllths press briefing yesterday to call for passage. >> i cannot overstate the negative impact to our troops and families morale from budget uncertainty. reporter: votes expected later into the evening on this, but especially in house, there is
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no sure thing on passage because on one side of the pendulum you've got republicans worried about reason i away spending on the other you've got democrats concerned this does not address the situation, with dreamers, for example, the leader in the house for democrats nancy pelosi took to floor yesterday, for 8 plus hours. >> you are a dreamers hang in limbo with a cruel cloud of fear and uncertainty above them the republican morale cowardice must end. >> the deal also removes one other political hurdle a big one at that would suspend debt ceiling put off until march 2019 yet another year, it is an issue that -- that takes big issue that comes off the table, for those on the house but, also, once again, there are concerns with spending. >> have yes there are blake thank you so much blake burman at white house joining me
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californianing lee zeldin new york, good to see you thanks for joining us. >> thank you. >> where do you stand all this you are in financial services committee. how you going to vote on spending deem? >> -- deal. >> i haven't seen a draft have not read it kindch operating off numbers. on the military, department of defense, side, no doubt, that to make up for many years, of is a lack of investment, on the part during the presidential obama's administration both with troop reductions as well as not maintaining equipment really had a devastating impact on certain aspects of military we need to fix it i don't like the idea that in order to be spending 80 billion dollars, more on the military, that you have to spend 63 billion dollars more on nonmilitary. there is one function that we have constitutionally that is to provide for national defense i want to be able to address those troop reductions
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lack of equipment maintenance get ready in order to protect our country i don't believe it is responsible about to use the military as a pawn or hold it hostage to pay for other priorities we can't afford it. >> congressman -- you know, in order to get what you want, about the spending on military, the democrats are saying got to spend money on this got to spend money on that where would i have cut what are you going to do about it does that mean you are a "no" on this bill. >> yeah, as of right now, again, the bill has -- i haven't seen bill yet i don't know if there is going to be any updates to what was originally pitched last night versus what final bill ended up looking like, past september house passed all appropriations bills. a couple days ago, the house passed continuing resolution until march that fully funded military the rest of the year. now i would encourage senate take up appropriations bill passed in september encourage them to take up continuing
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resolution that was passed a couple days ago, and on the debt side, it just our country cannot afford to keep spending money like this. it is -- i have 11-year-old daughters i feel like it is irresponsible for them for us not to be making the right fiscal decisions on their behalf not just about getting past the next election or past the next year. most importantly it is what we hand off to next people who -- will take over and be responsible for this country i want to hand them, i want to hand them a i don't want a mess our country is heading. >> a budget deal would -- would assure permanent trillion-dollar deficits 300 billion, adding 1. trillion deficits next 10 years if parts of deal are made permeate immigration, what do you make of what nancy pelosi did last night? 8 hours, talking about the
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dreamers? >> yeah, this is called a one minute speech, one minute speech that lasted over 8 hours. not talking about ending illegal immigration but parading it celebrateding illegal immigration 8 hours if she spent them actually sitting down not just talking but listening negotiating compromising we can have greet immigration bill president willing to able, to do his part, republicans in congress, are ready to do our part. but you can't just spend 8 hours on the house floor putting on a show praigdz illegals he immigration thinking that gets you closer to rolls of. >> she basically wants to be visible want to be speaker again. maybe thinks gimmicks get her there. >> maybe. i will tell you from my district, on east end long island many parts we don't want the tee nancy pelosi be next speaker of the house you mentioned financial services committee served on in intro
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maxine waters chair financial joint ventures jerry in a lower chair of judiciary committee first order of business would be to impeach the president, second order of business would be to have some type of -- you know you you universale health care single payer system the economy is doing well, our national security is doing well, we are taking better care of veterans on right trajectory nancy pelosi showed 8 hours exactly why she should not be speaker of the house. >> you mean doing that. >> spending 8 hours talking hearing herself talk about praising -- the stories of illegal immigration. >> we are watching the president ready to speak at inaugural prayer breakfast in white house confirmered president requested pentagon beginning celebrating a larger scale parade like he saw in france at bastille day last year what he has to say about
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that listen to this. >> to a large extent because of what i witnessed we may do something like that july 4. in washington down pennsylvania -- >> we -- >> i came back, and one of my early calls i think er we are going to have to start looking at that we are actually thinking about th of agile pennsylvania avenue having a really great parade to show our military strength. >> does that is that a way to show military strength congressman is this a good idea a parade? >> well first off, the idea is not that far-fetched, we do have a great annual celebration, in washington, d.c., for the 4th of july, i don't believe that we should be having tanks going down pennsylvania avenue, i think we need to look at options from pentagon, about. maria: maybe put money into military, and get the equipment up to speed. before we need to show it off. >> so that the cost is
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definitely a big factor, that is as manig that needs to be considered. you know, our military we do have i remember i was at 82nd airborne division fort bragg i remember division parade and having so then secretary of defense donald rumsfeld regardless of politics, we just thought it was cool, that the secretary of defense thought that it was you know so important, to take the time, to be with us, you know i think it, it can send a powerful message looking for any opportunity, in the country or abroad to show love to troops. >> quick before you go the grassley-graham he referral, referring criminal charges against christopher steele the grassley graham memo confirms everything that devin nunes already reported in his memo is this big in the house this week, what is your take on all of this i may cut you off as soon as president takes the podium go ahead. >> a big deal, here in the house, it is a big deal all across the country, for many
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people who care about this, i think, that as relates to the fisa abuse when you have secret documents, to a secret court for secret warrant to spy on u.s. citizens the whole process how you get there, combined with the dossier how and why the clinton probably ended the how and why trump-russian probe began line to beyond fisa abuse there is a lot to be concerned about lot needs to get mixed. >> incredible jim comey tweeting about this calling people liars weasels all this happened on his watch i don't get that at all with all those tweets. >> there is no coincidence jim comey got fired, andrew mccabe leaving, six people reassigned or fired. >> have a whole lot of people at highest levels doj fbi either demoted or left it is not not a coincidence. >> thank you. >> we are taking a break then we want to also take you back to the national prayer futures
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a rally complete reversal of fortunate expecting 50 points on dow twitter fourth-quarter results over the top better-than-expected, companies stock is soaring up 20% right now 23 -- back in a minute. oh! there's one. manatees in novelty ts? surprising. what's "come at me bro?" it's something you say to a friend. what's not surprising? how much money matt saved by switching to geico. fifteen minutes could save you fifteen percent or more.
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better-than-expected earnings revenue up 23% nicole petallides on floor of the new york stock exchange with details there good morning. >> good morning, maria. so we are seeing futures to upside yesterday we spent
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better part of the day in positive tether. we are up 381 points finished down we have had a volatile market look what is going on with twitter, an hour ago, hour half ago when i was first came out it was 4% then 10%, 11% now look 24% good nice on twitter is that the quarterly net profit that topped wall street estimates a beat on earnings per share and revenue the other thing that they have also seen on the rise, is video ad sales did rise up 23%, watch accounts. >> thank you so much, we are watching market that is actually going to open higher dagen twitter stock performance is really a standout, where numbers as much as standout you your take too. maria: standout before earnings came out, almost 50% i think 47%, through yesterday's close, that is performing the stock market last 52 weeks this is important because it shows
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that that one twitter can turn a profit, and, that it is really trying to get rid of the -- you have to create a reliable social media network tell who they are paying to advertise to they are beginning to do that. >> twitter has a loyal very active base of you users. maria: are i am there. >> just sort of sitting there, investors hanging on waiting for it to you know juice that turn into a profit now starting to do that you are seeing why stock up so much. >> what drove the quarter in your view? . >> i think, i mean certainly, the profit is probably biggest thing, i haven't looked at engagements numbers seem responding well to 280 characters probably one thing holding some from getting into it the fact hard to craft something, you know 1 who crashes you ha
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characters more room to write i think that the pressure that is coming on the company right now to clean up its, base a bit gets a lot of fake users out good for company you know who with you are advertising to real people. >>. dagen: harassment that welcome get minority get again a huge problem, that was considered by many to just be a calderon of hate, that is important also expenses -- the profit is where it was cutting expenses. maria: agent interesting what larry haverty said one of the top holdings twitter said somebody at sec probably noticing fact twitter stock up big in down market yesterday. before the numbers came out, see if that is a story more interesting what he said about netflix said what would you short or sell right now. >> he don't you like 100 times cash flow of netflix but other stuff not great about netflix. >> disney a direct competitor
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of netflix netflix losing disney content over pay for immediate accord content. >> tesla earnings next. back in a minute. who's the new guy? they call him the whisperer. the whisperer? why do they call him the whisperer? he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performance data suggest replacing capacitor c4. not bad. what's with the coffee maker? sorry. we are not on speaking terms.
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what's with the coffee maker? so, howell...going? we had a vacation early in our marriage that kinda put us in a hole. go someplace exotic? yeah, bermuda.
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a hospital in bermuda. a hospital in bermuda. what? what happened? i got a little over-confident on a moped. even with insurance, we had to dip into our 401(k) so it set us back a little bit. sometimes you don't have a choice. but it doesn't mean you can't get back on track. great. yeah, great. i'd like to go back to bermuda. i hear it's nice. yeah, i'd like to see it. no judgment. just guidance. td ameritrade. retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver.
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maria: welcome back. >> i am cheryl casone with headlines this morning, another law enforcement officer gunned down in line of duty, police officer in texas shot and killed after responding to call last night the suspected shooter taken in custody after-hours long standoff in apartment complex, this is the second law enforcement officer killed in the line of duty this week tesla reporting 675-million-dollar net loss fourth quarter as company continues to invest in production, on model 3 massive
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battery factor in nevada after production problems last near tesla saying it expects to make 2500 model 3s a week by the end of the first quarter 5,000 by the end of the a second quarter, elon musk ceo tesla spacex releasing final photo of roadster launched into space on powerful rocket many say radiation will tear the car into pieces space junk within a year tesla premarket move it is down more than -- almost 1 1/2% right now. >> you knew this was going to come after horizon bought whole foods two hours delivery of grocery from whole foods to prime members austin at last texas ohio virginia beach in virginia customers to order fresh fruits veggies, meat in local whole foods store.
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>> delivery free for orders over $35 shares higher in premarket. >> live look at president trump attending national prayer breakfast this morning every president since dwight eisenhower has spoken we are breaking down the impact of recent market volatility right now dow up 109 premarket. we'll be right back.
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maria: good thursday morning thanks for being here i am maria bartiromo thufrz, february 8 top stories right now 8:30 a.m. on the east coast. president trump to address the national prayer breakfast in washington taking you live once he gets to podium should happen momentarily, then, elsewhere in d.c., shut down showdown on the way lawmakers have to midnight tonight to reach a deal to keep government finisheded again senate leaders reached a deal two-year deal rather last night, with agreement that calls for a big increase in spending on military as well as nondomestic, nonmilitary, domestic programs would contagious a toll on deficit
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facing headwinds in the house global markets trying is to stabilize after wild sessions futures high of the morning up 110 points on dow industrials, up 1, 1/21 puerto rico, s&p up. >> nasdaq gain 55 points futures almost 1% on nasdaq, after a wild day why i had, dow down 19 points blue chips 500-point range throughout session yesterday s&p 500, nasdaq finished lower, in yesterday trading. >> declines across the board in europe bank england announced interest rates unchanged, the central paifrpg said going to raise rates this year faster than expected market stable down three-quarters of a percent on average asian markets mostly higher nikkei average best perform up better snan 1% shanghai composite, china, down 1 1/2% topping nice market volatility, the market
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movement has been in you have to make some americans ask you to about 401(k)s, joining us author of retire inspired chris hogan thanks for joining us. >> i want to say don't do anything periods of volatility what is your message to people might be in never beened by market moves you have been experiencing. >> i think it is okay to be emotional but about what we don't want to do is be irrationale i tell everyone a deep brelth we have seen this movie before what happens we know rally is coming we need to be intentional maker working a plan and have confidence in the plan we are working, based on our goals our risk tolerance timing. maria: i know you are not trading 401(k) dagen. dagen: no. maria: neither am i. dagen: you saw in shake out people who were treating stock market and even bitcoin like a
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casino it is worse than a betting on a coin toss, chris you saw people billions of dollars piled into these -- these short volatility funds that blew up in people's faces and these are individuals who lost money, i think that you because when market goes straight up, people become delusional about their investing ability. >> 2006 housing priegs could on -- priegs going up. dagen: flipping condo minute yumz in south florida same thing, and i know that part of what you do is try educate people about not background delusional about their investing ability because the market is going up in a straight line. >> you are right whenever the markets going like that has been growing since fall 2016, gives people false confidence take unnecessary risks i want
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everybody to take a collective deep breath be aware what you are doing expected timeframe don't go it alone the worst thing we can do is rely on our own information you need to talk to professionals educated have a track record. maria: are i got to push back investor today arms with a lot of information, and many investors have and have been successful in terms of making their decisions, and you are talking about speaking to professional to fee you to death? >> no, i am talking about there is a difference maria. maria: okay just saying. >> i am talking about ones that have heart of the teacher i work with smart pros talk with people to educate not just sell. maria: i am saying you better ask your broker whoever dealing with what fees are before you get into a conversation you don't have to pay normal amount of money, to trade stocks, and get investment. >> it is even for those have a
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lot more time ahead in career to weather ups and downs what about people planning to retire couple years might life another 20, 30 years can't get entirely in bonds they have got to have money in the stock market what is your advice to folks like that? >> well, the advice there he is make sure you are diversified very important never put eggs in one basket look at mutual funds, understand mix aggressive growth opportunities that you have to diversify also let me say something to millennials i to encourage millennials don't alloy hiccup in market to cause you to stop investing pull money out of 401(k) a bad decision today, a knee-jerk reaction could cause you major financial losses for the future, stay calm, stay plugged in, work your plan. >> chris, it is pete hegseth markets volatile we have seen in real economy wages increasing job opportunities
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increasing businesses hiring, what is the connection do you see any connection between volatility in the market, and what is actually impacting people on main street? >> well i think we have a result right now, of a little bit of a correction. you know things have been climbing since 2016 now seeing steam come out a correction, but i agree with you confidence is high. you know unemployment is low as ever in 17 years, the average wages climbed reached, confidence is high so we need to be steady, stable and avoid chickenen little syndrome because of this market hiccup. dagen: i want to raise issue where was elizabeth warren consumer financial protection bureau, as all new exchange traded products were created that essentially blew up on monday. that were sold to retail investors i know read prospective risks disclosed people trading in cryptocurrencies treating it like it is. >> but it is recklessness no
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regulation of those markets, so where -- where is the elizabeth warren in all this where was she he when wells fargo was up to no good i just wanted to raise that i had that conversation last night. maria: you are right, even the worst of them all the wells fargo phony account scandal consumer protection bureau didn't call "l.a. times" reported it so they missed that as well what was function all years for consumer protection i think you make a great point back to the markets for a second when you see that decline of 1100 points the other day when you see volatility, what is it based on? is it i mean when you look at the backdrop as pete mentioned waging up 2.9% are year ever ear growth in economy 3%, 4% up to 2018, earnings up 20% to 2018 what is this decline based on it is not based on fundamentals? is it purely valuation? dagen: i think certainly triggered it concerns about
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higher interest rates about higher interest rates from federal reserve. maria: does this scare you come on a bismarck 25 yea-- in business market 5 years. >> you have had a federal reserve and central banks around the globe that have pumped unprecedented amount of liquidity. >> what happens -- >> and it is stopping, i am not talking. tax reform. >> i am not just talking raising interest rates stair steps i am talking about 4 1/2 trillion-dollar balance sheet slowly reducing now 4 trillion, essentially pumped money into every corner of the financial system, and there have been wild bets placed in ways that i don't think we yet understand. you saw all money that was shorting volatility. not just through exchange traded products but in other ways, because the markets were stable so people made stupid bets market is not. >> that much more expensive. >> does marketing you don't it
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is unprecedented to have a market the dow moves 1% or more seven days last year. maria: right. >> dow went up 10 months in a row hasn't happened since 1959 despite backdrop of good news by the way, the danger is that when you have all that money, filtering down to hands of individuals, through higher wages they start spending it that is actually when you get inflation. that is real in addition federal reserve will have to foot. >> to watch so much on need to increase wages discrepancy in economy average worker not getting a lot of money there is concern about facing, now -- sort of no-win situation. >> i don't know about tanking, you are still up come on. >> still, now starting to see volatility again making everybody nervous, placed retirement in stock market. >> i think that is right volatility is back, isn't it true that volatility can be a friend, chris? >> well, i think so i think as
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youstart to lack at it you mentioned the word crucial, inflation. the cost of things are goinging to up 3 to 4% each every year so we have to make sure that we are growing our money, i think volatility, can be a good thing because if you are investing in your 401(k) consistently, you are even getting things when on sale, when things go down you are buying on sale if you are doing it steadily things climb up you experience growth that consistencies with long-range plan will end up causing you to recognize recession proof in your personal economy. >> i think you have to expect more volatility this year i think you are going to see wild swings all year just because volatility is back, and people are not sure about valuations. >> embrace it, volatility comes opportunity. >> exactly. >> there is a anaheiming upside. >> 401(k) investors if you invest 401(k) volatility should not bother you -- >> another opportunity to get in knee rebalance every month allocation to stocks and buttons other instruments deal
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with it that way people he have become overconfident treated stock market assets like a casino jack vogel famously said by index fund holed 30 years growth of u.s. economy plus dividends, but alternative is betting on coin toss short vilt funds bitcoin worse you are betting against somebody probably a heck of a lot smarter than you might be manipulating a market. >> you are betting on america when investing in the stock market, isn't that true you got earnings up 20% in 2018 a much stronger backdrop than we have seen in a decade. dagen: you are an owner in that business, rather than if you own treasurys loaneding to uncle sam letting nancy pelosi chuck schumer spend. >> it wait till i pay kids college tuition this bitcoin then see what happens. >> do i own bitcoin. >> absolutely not, i stay
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focused i invest in things that i know that are regulated and that i can count. so listen, i am not messing with that because that at a is speculation, my financial future my dreams are real to me i am going to make it happen. maria: there you go blim bottom line we will be right back a deal on budget stuart varney going to weigh in on lawmaker plans adding to federal deficit next, also groundbreaking discovery in fight against pancreatic cancer scientists unifying flu virus to combat cancer cells waiting on president at national prayer breakfast in washington live as soon as the president gets to that podium. back in a moment. .
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maria: congressional leadership pitched bipartisan budget deal could raise national debt to astronomical heights joining me host of "varney & company" good morning. >> astronomical, i do declare. >> thank you so much i agree with you, by the year fiscal year 2019-2020 way things are going we are going back to trillion-dollar per year budget deficits. now there is a number we have not been trillion dollars since right after 2001-2008 crash can you imagine to a trillion-dollar deficit, in the year where we have three may be four percent growth this is stunning stuff. excuse me, the bottom line here is that there are no votes in congress, for as you tierity there are no votes for
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reining in spending at some point a debt bomb crisis i don't know when not sure how it actually happens there is a debt bomb on the horizon i don't like the look of it. maria: deal apparently includes what 100 billion offsets some people call a budget gimmicks, one time savings like selling oil from the strategic petroleum reserve do you think why c markets have been nervous? dagen mentioned it had bond market do you think stock market is also worried about trillion-dollar deficits. >> not yet, no i think the market will start to worry if interest rates climb sharply because of this extraordinary debt it is at that point the stock market starts to worry, and maybe in advance of that will worry. >> all connected right you are talking higher rates then lower stocks. dagen: borrowing to provide the tax cuts to the american people again, the economy was already growing, not fast enough but already growing.
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that adds to the deficit, you have tough talk on trade. that drives down the dollar, that creates inflation, now you have this budget a buster and that adds to the debt it adds to the deficit, so you add all that up you start to worry about inflation higher interest rates. >> there is no plan to rein in in social security or medicare entitlement programs, throwing out more money than those programs are bringing in. a lot more money. it just -- look we had 660-billion-dollar deficit last fiscal year, in middle of another one where going to hit probably 700, 800 billion dollars, then into trillion dollars territory. >> big number. >> what is a fiscal year conservative to do if you believe in defense want to fund it what is the position you should take. >> very difficult pete because there are no votes for -- what very few votes for fiscal -- president about to speak. >> we will see you 10 minutes to president trump at national
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prayer breakfast washington, d.c., here is the president. [applause] . >> thank you very much thank you randy for that very kind introduction i i want to thank you, and congressman for serving cochairs this year, an honor to be with so many faith leaders members of congress dignitaries around the world we continue extraordinary tradition i am very glad upon joined by many members of my cabinet, doing a terrific job. i want to extend our appreciation to the first lady of rwanda, for leading the opening prayer, thank you.
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thank you very much. [applause] . i also want to thank two greet friends mark burnett -- two terrific people you deserve it even though he comes from hollywood. thank you very much thank you for being here. >> major scotty smiley tiffany we are modified by your faith courage inspired by your sacrifice that was really beautiful thank you very much. thank you. . [applause] to my friend everybody's friend, steve scalise we are so glad to have you with us today your presence reminds us of jesus's words book of matthew with god all things are possible you are fantastic
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you really are sir. fantastic man. >> america is a nation of believers and together we are strengthened by the power of prayer. this morning, our hearts are full of gratitude as we come together for the 66th where you will national prayer breakfast. but our hearts are also saddened by absence of the cofounder of this one of them breakfast who passed away last year, doug coe everybody loved. >> 60 years doug devoted time and passion to this prayer breakfast, and many wonderful causes today we are blessed to be joined by doug's wife jan and two sons david and tim. [applause]
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thank you. thank you very much. great man. i want to thank you for caring on doug's legacy, also, and bringing our nation together in prayer. of the you are indeed carrying on his great legacy each year this event reminds us faith is central to american life and to liberty. our founders invoked our creator four times in the declaration of independence. our currency declares in god we trust. [applause] and we place our hands on our hearts as we recite the pledge of allegiance and proclaim we are one nation under god. [applause] our rights are not given to us by man. our rights come from our creator.
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[applause] no matter what, no earthly force can take rights away that is where the words praise thee to god etched atop washington monument same words etched into the hearts of our people, so today we praise god for how truly blessed we are to be american. [applause] across our land we see the splendor of god's creation throughout our history, we see the story of god's every city in town we see lord's grace all around us through a million acts of kindness courage, generosity. we love god we see the lord's
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grace in the service members, who risk their lives for our freedom. we see it in teachers who work tirelessly for their students, and the police who sacrifice for our communities and sacrifice they do. [applause] and we see the lord's graces the moms and dads work two and three jobs to give children the chance for a better much more prosperous and happier life. as the bible tells us, are about for we are god's handwork, created in jesus christ to do good works. america heroes rise to this calling. in their selfless deeds they reveal the beauty goodness of the human soul when
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catastrophic hurricanes struck first responders and everyday citizens dove into waters to save stranded family he from danger saved them by thousands neighborhoods opened homed to those in need he have food clothes shelter firefighters braved blinding smoke and flames to rescue children from devastating wildfires during the horrific shootings strangers shieldeded strangeers police officers ran into hail of bullets in las vegas a terrible day a terrible night such bravery, families have adopted babies orphaned by opioid epidemic and given them loving homes. communities and churches have reached out to those
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struggling with addiction and showed them the path to a clean life, a good job, and a renewed sense of purpose. and soldiers sailors coast gur guardsmen airmen marines ep spent long months away from home defending our great american flag. [applause] all we have to do is open our eyes and look around us, and we can see god's hand. in the courage of our fellow citizens, we see the power of god's love, at work in our souls and power of god's will to answer all of our prayers. when americans are able to live by their convictions to speak openly of their faith and teach their children what is right families thrive
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communities flourish our nation can achieve anything at all. [applause] together as americans, we are a tireless force for justice and for peace we have witnessed this truth over the past year for years, isis had brutally tortured murdered christians jews religious minorities countless muslims, today the coalition to defeat isis has liberated almost one hundred percent of the territory recently held by killers in iraq and throughout syria. . [applause] much work will always remain but we will never rest until that job is completely done
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and we are really doing it like never before. [applause] we know that millions of people in iran, cuba venezuela north korea and other countries suffer under repressive and brutal regimes. america stands with all people suffering oppression and religious persecution last week, during the state of the union the world was inspired by the story of a north korea defector, who is now back in if south korea before his escape when he was being tortured by north korean officials there was one thing that kept him from losing hope. over and over again he recited the lord's prayer he prayed for peace he prayed for freedom now the as you know he
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is free in a symbol of hope to millions of people all around the world. [applause] here with us today, is another symbol of hope a very brave nine-year-old girl named sofia marie campa peters, sofia suffers from a rare disease that has caused her to have many strokes. at one point the doctors told sofia that she would not be able to walk. sofia replied if you are only going to talk about what i can't do then i don't want to hear it just let me try to walk. [applause] she tried and she succeeded. and one of her doctors even told her mom and they are right here in the front row
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where they should be this little girl has god on her side. [applause] >> thank you, sofia, thank you, mom, great mom. i said do you love your mom, she said i have a great mom, i love my mom, right? just two weeks ago sofia needed to have a very high-risk surgery. she decided to ask the whole world to pray for her and she hoped to reach 10,000 people. on january 24th, as sofia went into surgery, she far surpassed her goal. millions and millions of people lifted sofia up in their prayers, today we thank god that
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sofia is with us and she's recovering and she's walking very well. [applause] >> and i have to say this, sofia, you may only be 9 year's old but you're already a hero to all of us in this room and all over the world. thank you, sofia. [applause] >> heros like sofia come from all across our country and from every different background, but they all share one thing in common, through their love, their courage, their sacrifice, we glimpse the grace of all mighty god so today inspired by our fellow citizens, let us resolve to find the best within ourselves. let us pray for that extra measure of strength and

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