Transcripts For FBC Cavuto Coast To Coast 20171228

After that. This is week to 10 days worth of subfreezing temps for a lot of big cities in the east. That is very impressive. We havent seen cold like this since the polar vortex from a few years ago. David what about erie, pennsylvania . I have got to focus on one little town. Not so little if you live there. My grandmother is from eerie. Five feet so far. Theyre getting a another major snowstorm by this weekend. They could end up with 10 feet before long. It is amazing. That is what you get arctic air going over relatively warm, unfrozen waters ever the great lakes. That is why the rest of big cities in the east dont have the snow with arctic air mass. The air is too dry. You know moisture to deliver the snowfall totals. That is it what the great lakes do. I will say, david, next week, january 3rd or fourth, middle of next week. We could get gulf and atlantic moisture involved in the arctic up break, big cities on east coast have to watch for a potential big snowstorm. That is a few days away. We have something to watch going forward. David the only saving grace for new york right now, going into single digits, to got very closo that overnight. You shower, your hair is dry in five minutes. Extraordinary how dry it is. It will change as temperatures actually warm up a little, right . We have the potential storm in the middle of next week that would bring relatively milder air, moist air especially to the east coast. But i will say this, david. Looks like the potential for more significant pattern change, potentially a january thaw coming in the second week of january into the eastern half of countries. Hang in there. There is light on the end of the tunnel here. Incidentally the west where it has been so warm, so dry, bad news for western ski resorts, looks like they will turn a lot cooler, potentially stormier as we head into midjanuary. That is really good news for the west. David by the way you talk about dry air in new york but i imagine the folks in vermont are getting snow, so it is good for snow lodges up there, right . Oh, yeah. New york, new england had a banner year so far. That will only continue over the next few days. Probably another big storm in the middle of next week to deposit a lot of snow into the middle of january. Even if we do get the january thaw as far north in new england it probably doesnt melt any of the snow. Great skiing conditions for the next two or three weeks. David it is important for the snow economy, the ski economy. Dan, thank you very much. If youre looking for heat right now, record breaking holiday sales ahead of tax reform kicking in. New York Governor Andrew Cuomo hitting tax plan for blue states. His state will proprose restructuring the tax code in response to the overhaul. Evan siegfried and veronica daguerre where all this goes. Veronica earlier this week there was worry about china. Lets talk about growth first of all, about how the chinese economy was going to overtake the u. S. Economy, to which i said bull. That is a bunch of bs. When you look what happened to the china past few months. Theyre becoming more authoritarian, worse for the Economic Conditions in china. You look at the u. S. , this huge tax cut will mean tremendous growth in 2018. I think there is no sign of trying to overtake the u. S. Economy, right . If you look at chinese numbers, theyre a bit of a black box. Youre not sure which data to believe, what not to believe. But the u. S. Economy as you said, companies are strong. Theyre hiring. Keeping workers around. Consumers feel confident. Holiday salespeople are spending. The conassumer is back. They may be taking on a little bit too much debt but still it is because they feel good about their prospects. Also this tax reform is only going to add to that fire of spending. David evan, there is always a wing of the Republican Party that worries about overheated economy. They have been very skeptical of the supply side notion you can grow as much as you want. It is always good. Nothing bad about growing. This wing, theyre deficit hawks. They dont seem to be represented by the trump admin operation itself. The trump administration, whether gary cohn, steve mnuchin, anybody else, president himself, dont really buy into the notion that we have to be concerned about an overheated economy, right . They want to have the whole Snowball Effect to take care of the debt on its own. Im personally one the people who worry about the debt. The economy is on fire right now. I think it is very good. Holiday sales for retail earlies is working very well. Americans are expecting 2,000 in 2018. I am expecting tax cut. I bought a dutch oven. Im happy to give it that way and pay it off that way. David veronica, the question is how businesses react to this. The naysayers all they will do is increase their dividend and buy back the stock. Other people, including some of those corporations themselves, particularly smaller businesses say no, we will use money to grow. Consumers and investor will hope happen this is time. This hasnt happened in the past. That is where skepticism comes in. Were seeing some Companies Already giving bonuses, if the president signed the legislation they did, he gave bonuses out. Well see if that translates to higher wages going forward. The middle class hasnt seen wage growth substantially in a long time, several years. They need that in order to keep fueling this economy. So when that kicks in, yeah i think we have more believers on the tax plan. David evan, talk about how Governor Cuomo and he and a lot of democrat governors saying ending of state and local income Tax Deductions that is the president is beating up on democratic governors. The hightaxed states needed salt deductions to keep taxpayers happy. Taxpayers are unhappy about their tax bill. They have been able to deduct it in the past. They will not be able to do that in the future. Does that hurt them . I was one of those people who opposed him names of the deduction. David because you had personal interest. I had personal interest and responsible for new yorkers to keep it there and other americans throughout the country, people in ohio as well as state of washington. Yes, those are blue to purple states. Now the tax reform package has passed. This is reality, and up to the governing bodies of every state to deal with it and see david who will take the political blame though . Will it be the governors and the mayors like de blasio who have high taxes or will it be President Trump for getting rid of salt . It will be everybody in new york state. We dont like everybody from de blasio all the way to trump but were seeing Governor Cuomo saying this is unconstitutional. What he is doing right now, he is gearing up to run for president , not to be a governor. Come on. David veronica will he have to do something to alleviate pain on taxpayers used to that deduction . He may. You have to think about in total perspective here. Peoples income taxes are being lowered and so that can help some people as well. So i think you have to wait to see what your tax bill is. If theyre lowering tax bracket you may lose the salt deduction, you may come out a little bit even at least in the short term. David what worries most about the economy . What keepings up at night if figure in about the economy. Were seeing about the decrease in peoples credit cards in terms of the debt. Theyre not paying off within the month. That scares me. That is a bad habit especially when we hear about people not having emergency funds. Average person in the United States i think doesnt have 400 worth of an emergency fund. That is concerning to me because when we do have another downturn and weville another downturn, are people going to be prepared. David we have to end this discussion. So where is the end of the year coverage after booming economy . Pew says the Media Coverage of trump is three times more negative than obama, 5 positive despite all the economic successes. Former democratic ohio state senator capri cafaro joining the panel. What do you think . Is the media slowwalking if not ignoring the good stories in the economy. I dont think theyre so much ignoring the stories. I think that because of the 24 hour news cycle. Because you know, people get so fixated on the salacious aspects, particularly of President Trumps tweets, that you know, i think that the media is more likely to Pay Attention to those things, for better or worse. But i also think it is consumers fault. People get excited and sucked into the intrigue of these tweets about you know, little marco or you know, whatever he was called, rocket man, throwing the kind of insults around. I think that unfortunately that is eclipsing the message of the economy. I think President Trump and his team would be better served to stay on message so the media could stay on message as well. The media will never ignore tweets or salacious things going on like the russian investigation. David capri, youre kind of a rare bird there arent that many free market democrats left. I think of the old Scoop Jackson democrats. Right. David blue dog democrats but you are a free market democrat and when you listen to Chuck Schumer and listen to nancy pelosi say there is nothing good about the tax bill, that it is the worst bill ever, i mean if they are wrong and if veronica and evan are right well see an economic boom as a result, doesnt that completely discredit the Democratic Party . They are the leaders . Well, look, this is what i consistently said about the Democratic Party, my party, that we need to be more than just against something. There are good aspects of the tax plan, particularly, you know, for example, for passthrough entities for Small Businesses. For, you know, making sure that the standardized deduction is doubled. Yes, are there, carried interest and some of these other things big wins for david we talked about it. They shouldnt have stayed. But at the same time you cant entirely ignore what is happening. Now you have a number of companies actually investing in their workers, growing the middle class out. That is important. Democrats need to get on board to be part of the solution, not against things. David theyre not. Thats the point. If we get this growth spurt in 2018 schumer and pelosi say that never will happen, i imagine that raising your profile in the Democratic Party quite a bit, right . Who knows and frankly i dont care. I care about best for the American People. The folks in washington will do what theyre going to do, dccc, Congressional Campaign committee will do what theyre going to do. I hope they learn from the mistakes of the past elections. I hope they listen to folks in the middle of the country about what we believe, as opposed to focusing on what the coasts think in this echo chamber like 1000 doesnt go far. Come to trumbull county, ohio, 1000 will go very far. David 45 bucks a week buy extra bag of groceries, very important for a lot of people in this country. Evan, do you think President Trump can find enough blue dogs democrats to work with, to get something passed in bipartisan way . No, i dont. That is politics. David you heard capri. She is democrat. If capri were running Democratic Party we republicans would be in trouble but theyre not and the base is further and further left. More and more rabid. If you say good morning to the president they want a primary to throw you out. David did i hear you agree with that . Did you hear you going yes to that, capri. That is true. To our peril. We saw that happen with the republicans in, in the Tea Party Movement as well. When either side goes too far to the extreme left or right, it hurts people in the middle. The other part of it is gerrymandering. There actually arent a lot of blue dog democrats. You have super republican or super democratic districts. It is not in their interest to compromise. David House Intel Committee issuing a subpoena to the associate of john mccains. This is the latest twist on the russian saga. It continues on and on. Wait until you hear the latest. That is next. See thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. 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The same folks giving me free rides to treatments, insurance advice, and a place to stay during chemo. I need that stuff like you dont know. And now that you do, please give at cancer. Org. Wifiso if you cant live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. David a new wrinkle in the trump dossier investigation, the House Intel Committee issuing a subpoena to this man, david kramer. He is associate of john mccains over his knowledge of sources behind the largely discredited dossier. To Daily Caller News Foundation editorinchief, chris bedford. David kramer, did you know who he was before this incident hit the press . I read his name. It didnt pop immediately to mind. When he looked back and information we had written he had a minor part along the way. Congress is going to want to know, there are two things we want to know. Who are the russian spice that gave Christopher Steele this information and who gave the information over to the press, to buzzfeed. Kramer met with steele and he knows who the russians are. Another russian attack in dossier, suing buzzfeed over this, his lawyers say they know who the sources for steele were but theyre keeping it quiet right now. The judge has a gag order. Those are two of the biggest mysteries. Hopefully they will be solved very soon. David lets ask about the time frame here. As i got it after the election, the november 2016 election that steel met with kramer, correct . I believe youre correct on that, absolutely. He went over at mccains behest and handed it over to the fbi. David remember that famous comment, we need some insurance that peter strzok comment, after i met with andy, we assume meaning andy mccabe, in fact this might have been the insurance policy if trump they didnt expect trump to be elected president but they said if he is, we have to have an insurance policy. Again all roads seem to be leading to the trump dossier as that insurance policy, right . That is unfortunate, that is an unfortunate theory and it looks correct. It is unfortunate because that dossier as soon as you read it didnt pass the laugh test or sniff test. It was clearly bunk. It didnt make any sense. I know Security Services were interested in getting their hands on it, the fbi, because it suggested that russians were spying on the potential president of the United States. That caused worry but, beyond that, it should never have gone that in a president ial briefing. David it was use, it seems, if with were saying it is true, it was used by fbi, it was used for two purposes. One they tried to peddle it around to prevent donald trump from getting president. Two, after he became president , shock and surprise to everybody, they were still hell bent on getting this thing circulated, apparently to david kramer, which as i understand was two weeks after the election. That is what kramer was brought to meet with steele to talk about it. In january they apparently offered it to mr. Comey, david kramer did, even though comey already had a copy of it. People trying to get this around is certainly cause for concern. All of these were still, reporters are working pretty hard to see what we can confirm because the fbi not at all been forthcoming. Cramer has not been completely forthcoming the whole reason for the subpoena here. The congress has been left in the dark. Buzz fee put this whole thing out, laughable thing, says the public has the right to know what is going on here. They had to pull it back, none of this was true. President called it bunk. I actually think were getting pretty close to getting some of the answers youre talking about here and what were seeking with people starting to able to identify every player who is involved. Once you do that you can figure out the it out much more easily. David we want to know exactly who introduced kramer to chris steele. Was it somebody in the fbi . Was it andy mccabe . Was it bruce ohr, whose wife was working for fusion . Was it peter strzok who talked about it in his messages . Any indication who introduced this mccain associate to Christopher Steele, the british spy . Only most, the only fact we know for sure that kramer was sent at the behest of senator john mccain. Who offer tipped this off and set up this meeting most likely in contact already with the senator. David evan, there is a question whether the fbi spent any money on this largelydiscredited dossier. If they were actually paying for some of this stuff, and then circulating after they pay for it, there has to be some law that was broken somewhere. God, i hope they didnt pay for it that would be a waste of taxpayer money. What they should do if responsible Law Enforcement organization should confirm or deny. If they found the dossier is bunk and say it is bunk and here is why. The reason we get to the bottom of lot of things going on there a allegations, including people within the administration that this dossier was used in the fisa warrant against carter page. We havent seen the fisa warrant and the president has the ability to declassify it and. David that is good point, veronica, he could put a lot of questions about this, release all this stuff, told us about the fisa warrants, who issued them, whether they were contingent upon what was in the trump dossier. He codo that. Well see if he actually does. There are some Unanswered Questions like this. This story will not go away anytime soon. Meanwhile, i think average american, you know, in chicago, in utah, wherever is probably not really focused on this story. David the question what happens in 2018 . Well see. Chris, thank you very much, really appreciate it. Thank you. David well have more with the panel coming up. Meanwhile from las vegas to times square officials are beefing security up for when the ball drops. Well bring you an update on these unprecedented precautions. And is isis really on the ropes . Signs the terror group will continue to be a threat. Well share those signs with you after this. David winter blast dumping for than 65inches of snow on erie, pennsylvania. That is five and a quarter feet. It is crippling the city, breaking a 59year record, and a lot more snow coming there this weekend. Good luck, folks. We wish you the business. Bitter cold not expected to deter crowds in times square. New years eve security presence expected to be the most ever. Security in las vegas expected to include snipers and national guardsmen. We have paul violas. It is being called americas party, 2018. Theyre expecting 350,000 folks. Good for them. We wish them the very best but they are on the highest threat alert that is possible. It is level one, whatever that means. One thing that means is that the feds are willing to share a lot more intel with them and provide them with material support. Can you tell us what else is going to happen . You know one thing, david, that i think our viewers need to understand that is just a fraction of what the overail security is going to be. The majority of the security will be what they dont see. Majority of people inside crowds, sworn Law Enforcement officers, federal agents dressed as patrons, you wont even know who they are. David joe lombardo, has empathy and support of every american that saw him after that worst mass shooting in u. S. History back in the fall. He says they are ready. That they are safe and ready. It doesnt seem like he is encouraging people to come but he is saying those who decide to come are going to be safe. Is that an unreasonable projection . I think it is the only thing he can really say at this point but i would really step back, david, before i use the word guarranty. One. Things we try to do, we try to jump real quickly into insuring that we got this under control. Sort of like the comments about, we pushed isis back. We won against isis. I think we need to be more. Judicious in those comments. We need to underpromise instead of overdeliver when it comes to providing protection for the public. David well talk about new york city later in the program. I want to switch, since you mentioned isis to the new attack in kabul afghanistan. Its a long way away. It killed 41 people. Paul we did hear the great report that 98 of isis territory has been taken back but they are still threatening a large part of the middle east. Remember we still have a lot of troops in afghanistan. We certainly do, david, and we need to make sure we understand this war is not over. It is in fact a war. It is not over. They havent gone anywhere. We need to be careful about the numbers being thrown out there with respect, we pushed them back to 1000 people. That is simply not the case. We dont have a solid way to quantify how many people there. As we look into new years eve we often need to understand isis has done a exceptional job, david, recruiting and training over the internet. We know that we know they use social media. Were taking steps in that area to monitor that and police that but we have to be much more careful with respect how were portraying what we do comes to providing security talking about larger events as it relates to isis and their methodologies. David we went after the taliban after the 9 11 attacks, 2001. We dispatched them relatively easy. Nothing is easy in warfare but a few hundred of our special forces guys. Al qaeda has kanged their a liege an to isis, right . Isis the Group Everyone is looking to and everyone is following. David paul, thank you. Always a pleasure, david. David appreciate it. Meanwhile obamacares individual mandate may be out but where is the relief for businesses . Where this all goes for employers right after this. David last minute announcement from the irs could mean major headaches if you prepaid your 2018 tax deduction. Blake burman from washington. Those of us who pay a lot of taxes in hightaxed states it could be a problem. Explain. Reporter there is rush across the country, david, people in areas trying to get a jump paying their 2018 taxes now because the salt deduction are tapped to 10,000 when the tax code foes into effect next year. The irs tried to clarify the whole situation but they might have caused more confusion. They put out two stipulations the first one saying if you want to take advantage of this deduction you have to pay the bill this calendar year that makes sense. That is straightforward. Here is the second issue, and this is what is causing the confusion, irs says, anticipated payment of Real Property stocks taxes not been assessed prior to 2018 are not deductible in set 7 set of translation there, if your municipality hasnt given you your 2018 tax bill all of this might not apply to you. This is leading to a lot of question marks for people all across this country. Just to give you one example down the road from us here at the white house is fairfax county, virginia. One of the wealthiest counties in the entire country. They had a rush of people trying to prepay, but they fall into that category where theyre trying to figure out where all of this stands to them. The tax administrator told us they had 2500 people on tuesday alone try to make these prepayments. This started off as a slow drip, turned into a trickle and then a stream and now a river. We did not anticipate the numbers that have shown, that showed up particularly yesterday on tuesday. Then today much less, but its, im amazed. Reporter david there is a lot to consider here. One point being this was advisory that was put out by the irs, not necessarily something that is settled into code at this point. I also spoke with representative from the Tax Foundation earlier today who suggested depending on your individual circumstance this might not be the play for you, because it could potentially raise amt issues. Bottom line with all of this, if you are considering doing the prepayments, where you live, how much the tax bill is, et cetera, how much you make, First Consult with your tax professional. David that is it, Tax Accountants were not going away. A lot of them were afraid of that. Reporter no. David im wondering somehow has he loves to do, President Trump could ride into this, all of this, irs get your act together well allow people a chances, even if they dont have the tax form from the local government well give them a chance to prepay and get the deduction for 2017 or 2018 . Reporter certainly possible i guess, but speaking with people all across the country on this, there are so many different circumstances as it relates to where you live and local laws, the state laws. So while this tax code was expected to be simple this, one little portion going into it is being complicated. David, one other thing, keep in mind when they were writing this, they realized the, the tax writers, there might be the rush. They specifically singled out the state and local taxes but the property taxes is where people are going with this. It is a lastsecond loophole trying to be exploited. Irs is trying to clarify. One of these david i wouldnt say exploited. It is my money. I want as much advantage as i can possibly get. Blake, appreciate it. Here is another issue. The obamacare individual mandate is gone as the tax bill is signed into law but businesses are still forced to offer their employers coverage, employees coverage. Apple metro ceo zane tankel and with our panel how obamacare is still impacted businesses. Zane, great to see you. Business mandate is still there. It affects you. Tell us now. People have the option, most didnt want it anyway. They were paying fines. Depend on aging population of your labor force. So we have thousands of people. Most are 30 or below in the restaurant business. Its a Young Persons business. They were forced to pay, i think this last year was 595 fine. David did you have employees who decided to pay the fine instead of getting insurance . By far and away the majority. David the majority . Wow. It was still much more expensive to buy insurance. It was well over 1000 for the exchanges, et cetera, et cetera. David these people in their 20s. They dont think they need it. They never had it. They dont know what it is. They said rather get into the complications of buying it is easy to pay the fines. Did they recognize, have you explained exactly what will be happening here . Theyre very happy. They found 600. David youre not happy. Because if they want insurance because of business mandate continues if they want it you have to supply it. We do. At least in our population of several thousand people not something they are running to do. David talk about the general idea of the tax bill, how that will affect your business, whether youre just going to pocket the extra money, if you get extra money or invest it. Neither of those two, how it after feats us as businesses. I can tell david, in february, people get tax refunds every year. In that month our sales to straight up. Like it was valentines day or mothers day or new years eve because people have found money. Now it will be a weekly find as far as were concerned. I think were already seeing the psychological effects of people having more money in their pockets. And i think it bodes extremely well for the retail industry, for us in particular. And the Restaurant Industry and our space within the Restaurant Industry which is casual dining. What will you do with the extra cash . You mean with the extra cash in terms of corporate taxes. David people go to the restaurant, perhaps not paying as much in taxes. I assume you have extra cash. Will you pocket it or give it to employee bonus, what are you going to do. I will not pocket it. Well look for more new sites, were in a difficult situation being in new york city, rents are only going one way. People are getting realistic, drive up and down some of our avenues see all the empty stores. So as those things happen. One mans crisis is another mans opportunity. So as this real estate thing looks like, smells like, feels like it is starting to peak, maybe start to come down we would definitely use that cash for expansion. We would use that cash for reinvestment in our business. It doesnt go as people say, or democrats say, i dont want to make it a political situation that people take more money. Most corporate heads, im a private company, are under contract with the stakeholders, right . So if theres more money that comes into that corporate entity through taxation, it is not their income. Theyre dealing with the publics funds. And so they dont turn around and say, oh, i make 4 million. I got a big tax cut, i take six. Doesnt work like that. David veronica, business mandate of obamacare. Why wasnt that cut out. Was is matter of paying for the tax cut . Could have been. That is a good question. Individual amt remains. Wonder why that is still there. There is overlying questions with tax reform. Was it done too quickly with aspects like that . I dont know. It will be interesting to see businesses, now that they have extra cash, will they hire more and give peoples raises. Many consumers, customers of businesses are also the direct beneficiaries of this tax reform. So will that economy come back into the economy . Will we see increase in corporate profits. That in turn goes back to the shareholders. Stocks prices go up. There is Virtuous Cycle that could be happening. We could be on the midst of it. Well see if it happens in knew year. David evan, talk about where blake was, talking about complications of the tax code. Seems like the irs really cant figure out what exactly the implications of the new tax law are, am i right on that. Youre absolutely right. That sound we all heard, sound of my dad losing his mind. He prepaid 2018 taxes for 2018. He might have had a stroke. I will check in him on it. David you would think they allowed prepayment whether they allow the deduction. That is muddy waters. I hope youre correct. I hope President Trump will issue an order to clarify. David zane, very quickly, we were hoping one. Benefits that is one of the ways being sold of the new tax law, that you guys in the Business Community would, wouldnt have to pay as much for Tax Accountants. Sure. David but i look at all the complications, maybe you will pay just as much, if not more. Maybe yes, maybe no. In answer to blake, were at full employment 4 . Not much more you can do in terms of employment, right . In earlies of it expansion, in terms of reinvestment, in terms of of cap expect, theory of dollar is not onetoone tax cut, not goes one dollar back into the economy, an eight or two to one. The money goes, recirculates, spends. That dollar cut might translate to two dollars turning into the economy. Ultimately it is wage increases, im amazed you can afford to be here. New years eve is his night. You make more than one night than couple months. Per head price is. Okay, 375 a head to go to applebees per person. If you get window seat 450 per head. We sold out all our window seats. About to sell out all the seats. David good for you. Thank you, david. David President Trumps wraps up first year under Foreign Policy but not everybody is applauding it. The future of diplomacy after this. They appear out of nowhere. My secret visitors. Appearing next to me in plain sight. Hallucinations and delusions. These are the unknown parts of living with parkinsons disease. What stories they tell. But for my ears only. What plots they unfold. But only in my mind. Over 50 of people with parkinsons will experience hallucinations or delusions during the course of their disease. And these can worsen over time, making things even more challenging. But there are advances that have led to Treatment Options that can help. If someone you love has parkinsons and is experiencing hallucinations or delusions, talk to your parkinsons specialist. Because theres more to parkinsons. My visitors should be the ones i want to see. Learn more at moretoparkinsons. Com wifiso if you cant live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Or a little internet machine . It makes you wonder shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. See how much you can save. Choose by the gig or unlimited. Xfinity mobile. A new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. David mercedes going headtohead with bmw for top u. S. Luxury car sales in 2017. Gerri willis is at the New York Stock Exchange with latest on this hi, jerry. Hi, there, david, two german automakers mano y mano. Who will be the biggest in the luxury category . It is becoming clear it will be mercedesbenz. Look at these numbers, mercedes outselling bmw by 30,000 vehicles this year and that really represents about a months worth of deliveries. Mercedesbenz coming out on top beating lexus and audi as wells doing very well indeed. The question is why . Apparently they have more crossover vehicles in their lineup, bigger crossover vehicles than bmw. That is leading them to the gain as you can see right there. Really mercedes leading the category. Reset for a second, talk about the u. S. Market. New car sales, talking about cars, autos, not the big stuff. Down 7 on the year. At 1. 57 Million Units. Before you get upset, well, about the economy understand that american buyers are resetting and buying suvs and crossover vehicles more and more and more. That seems to be the more positive thing to buy these days. Overall for the year were expecting u. S. Sales to fall and world numbers, worldwide numbers will grow. But there you have it. David . David mercedes or bmw, i would be happy with either one. Gerri, thank you very much. To drama with china now. Trump tweeting quote, caught redhanded. Very disappointed china is allowing oil to go into north korea. There will never be a friendly solution to the north korean problem if this continues to happen. That is not good. China by the way denying the reported oil sale ever took place. To Fox News National security analyst karen skinner. I guess they were caught red handed . They may deny it but, that is really not adding up to much, their denial . Absolutely. I think the president is right. This is a disappointing outcome. I think were still gathering some of the intelligence and Spy Satellite facts but this really underscores for us the reality that china, for a couple of decades now, has attempted to appear tough on north korea and its nuclear program, but at the same time, have propped the regime all along. And the challenge of the intensive diplomatic activity this year, that secretary of state Rex Tillerson has taken underbehalf of the president has been to convince the chinese that the status quo on the Korean Peninsula does no in fact equal stability. What were seeing now with this potential violation of the u. N. Security council revelation, that we have a lot of diplomatic activity to to and we have to think about military options. David such a bare faced lie. Day before yesterday china came out with the figures we were skeptical about, there were zero imports of korean iron ore and korean coal and zero exports of oil to north korea from china. A at least one of those seem absolutely a barefaced lie. They have no shame at all. Yes and they are in fact really increasing the insecurity for just millions of people in the region, in their own region and throughout the world by supporting north korea. The sanctions only work when we get compliance. The chinese are the most important nation in terms of the Compliance Regime because most of the oil and Petroleum Products that north korea receives are, come through the chinese. So if they dont live up to the, all of the resolutions of this year which are getting tighter and tighter around north korea to really punish the regime then we havent done very much. David no, not at least with regard to north korea. Nor has any administration for the past three or four administrations. Meanwhile Rex Tillerson penning a New York Times oped saying quote, im proud of our diplomacy. Evan sig feed and veronica daguerre are back with us. Rex tillerson talks about abandoning the strategic patience or leading from behind. There are strong moves in terms of making nato pay more money. In terms of military defense. Tomahawk attack in syria. Dealing with the u. N. Finally in very hardnosed fashion. There are very different ways of dealing diplomatically with the world than under obama. There is especially when it comes to isis. Weve been very aggressive and very focused on that and have done a great job in that regard however there are some holes here though. From what were hearing though there is some key ambassadorships that are empty. I heard south korea ambassadorship was still empty. If we dont want to lead from behind we have to make sure the positions around the world are filled and were taking an active role. David evan . I think secretary tillerson has done a very good job with north korea. He reflected what the president wants to do sanction Chinese Companies and entities that enable north. I think now they need to do more sanctions. I at the same time i do worry we have not confronted china enough. David would you at least concede we have confronted isis and won that battle on the ground in terms of absolutely. We are doing a good job in syria. There could be more done on humanitarian side. David that has got to be it. Bitter cold gripping parts of the country and it is not about to get any better. What this all means for your new years eve celebrations coming up. Whoooo. When it comes to travel, i sweat the details. Late checkout. Downalternative pillows. And of course, price. Tripadvisor helps you book a. Hotel without breaking a sweat. Because we now instantly. Search over 200 booking sites. To find you the lowest price. On the hotel you want. Dont sweat your booking. Tripadvisor. The latest reviews. The lowest prices. David welcome to cavuto coast to coast. Im david asman in for neil cavuto. There is dangerous cold gripping parts of the country. We could see records on new years eve. Minnesota already in the record books with one town plunging to 37 below. And erie, pennsylvania, still digging out from a record snowfall of more than 5 feet with another snowy weekend on the way. Chief meteorologist from weather belt is on the phone, how long is the big freeze going to last, joe . 1015 days. Weve been warning people and, actually, clients said its very interesting, david. The Hurricane Season, believe it or not, of 2010, you go back and hook at 1933 and 1995, you look at those Hurricane Seasons and you look at the following decembers, and there was an intense cold that settled into the United States, and its an amazing analog. David thats interesting. You cant use it all the time, but we used it this year, and it has to do with the amount of hurricane activity in the western Atlantic Basin versus the western pacific, believe it or not. Its something ive been researching since 1995. David wow. Whats interesting is you see this step down, step down, step down. We started to get cold in november, backed off. We had three snows in a row in the ian part of eastern part of the United States, backed off, and now its going gang busters. The period through january 10th will be the coldest 20day period surrounding the holidays since 2000, perhaps since 1983, and if it can beat 8384, it would have to go all the way back to the 70s, and were talking for the United States as a whole. Youre seeing the price of natural gas surging up because the market is starting to catch up with what these past patterns told us to look for before. So thats whats going on here david joe, let me just ask you a question. Im going to extrapolate on what you were saying. The relationship between a very strong Hurricane Season as we did have and this cold weather, is it that there was so much activity down south where the hurricanes happened that it pulled down that mass from the north, or is that too much of an extrapolation . Well, i tell you what, if i could get on a blackboard in front of you, id show you the period. Theres a lot of upward motion in the atlantic, all right . You got a lot of upward motion during the Hurricane Season, until that is disrupted and destroyed, it will draw cold air if cold airs available. So what has happened is with this la nina that came on, unlike last years, its colder in the eastern pacific than the central tropical pacific. That is a known signal for cold air invading north america. And once that happens, down it comes toward it literally tries to come down. Now, whats fascinating about this is if you look at what happens the rest of the winter from mid january on, it breaks both ways. One, major thaws. 1933, for instance, january of 34, got very, very warm and then february got cold. You look at 2005, it tried to get colted in december, enthit cold in december, then it warmed up in january. Other instances like 9596 we had the big blizzard of january, it warmed for a while and came back again. Its research we were doing, we actually used it to set up our clients this year and in talking to them, and thats what we do. You know, im not on tv all the time, we forecast for Energy Companies and hedge funds and salt clients, for instance, we try to give them a little bit of an up and use things that may not be common. The problem, david, is its realtime, battlefield testing. In other words, its not like you have have had it Peer Reviewed david hey, its fascinating. Thats why we have you on, you dont just give a weather report, its history. Joe, great to talk to you. Thank you very much. Appreciate it. Well, from bitter cold to an economy that is heating up, President Trump tweeting out today retail sales are at record numbers. Weve got the economy going better than anyone ever dreamt, and you havent seen he didnt see nothing he said anything yet. Here to respond is our panel for the hour, managing director Jason Meister and wall street Journal Editorial Board member mary ogrady. Mary, what do you think of the president s tweet . Is he right . I think hes absolutely right. David so 2017 was nothing compared to what 2018s going to be . Well, the economy is starting to return the more normal numbers. The obama economy was anemic. Finish and i think by definition when you have more money going into the hands of the private sector than you have going to the government which is not, does not create wealth you are going to have more opportunity for creating wealth. And the main pillar of this tax reform is the corporate reform. The individual tax reform is not that important, and a lot of skeptics are saying david not that its not that important, but it wasnt dealt with as much as it perhaps should have been. A lot of skeptics are saying its not going to be enough to stimulate the economy. Thats not whats going on. Its the corporate reform thats going to allow corporations to have a simpler tax return and a lower rate thats really going to stimulate david and i just wanted to make a point which is that you guys at the editorial page are saying it should have been stronger on the individual side. Jason, perhaps the economy would have grown even faster than what the president is predicting for 2018. Even faster. But i agree, i think 35 to 31 is really 21 is really going to unleash the economy. I think were going to see it go gang busters. Were going to have a lot of jobs coming back to our country. I think its going to really stimulate the economy david are you betting that way . I am. David in what way . Into the stock market that way . Im looking at Different Companies investing in america because we have an America First president in office. So i think and i challenge anyone to tell me that when weve cut taxes, we always have federal revenues go up. There hasnt been a time in history where we cut taxes, the federal tax revenue went down. I think thats a big thing. Yeah. I think its worth pointing out there are things that the president could do that could damage this. For example, his trade agenda is not good for the United States. In fact, free trade is whats good for the United States, and if he starts dismantling nafta, i think that could undermine some of what david he has, he has said in the past that its the regional trade deals are the ones that end up being bad for the United States, that hes going to replace them with individual trade deals with every country. Now what that has proved to be is very difficult, because instead of one big trade deal which may or may not be good or bad for the United States, but you end up having to deal with a lot of countries, and its very complex. Well, plus, it assumes both mexico and canada will be cooperative in that and, of course, theyre very upset about the dismantling of the north American Free trade zone. David does it bother you, the trade aspect of the policy . Not so much. I think that trump is look, he wrote the art of the deal. I think he understands how to negotiate better trade deals better than any paid politician or career politician. I think its very refreshing. We finally have a businessman in office, someone who is a pragmatist. Hes not an idealogue like obama or Hillary Clinton or even george bush for that matter. So i think hes going to make decisions that are right for this country. And whether it falls on the left side or the right side of the aisle, hes going to make the right decision. David mary, you look at just regulatory policy alone which i think had more to do with the market going up than anything else, 22, getting rid of the 22 regulations for every new thats got to be historic. Ive never heard of that before. No, i agree. I mean, i think what weve already seen, a lot of that has to do with the deregulation. My point is, you know, if hes such a pragmatist, he would not be dismantling nafta. For example, it will destroy the u. S. Agriculture exporting machine which has been incredible david destroys a pretty strong word. Maybe hurt. Do you really think itll destroy it for good . No, itll destroy the relationship with mexico, because mexico will go to brazil and argentina. David people move all the time and theres apparentlying some f that already going on. Yes, because hes already said that he is going to take apart nafta. So hes already done damage there. David go ahead. I think that, again, i think that we have a pragmatist in office. Hes not an idealogue, and i think that we have a Decision Maker whos going to make the right decisions for this country from a trade perspective. David lets move on to entitlement, because its on speaker paul ryans agenda for 2018, but there are signs its not on the agenda for other key players in the gop like the president , for example. To senior fellow maddie can dupler. What does the president want in terms of entitlement reform, maddie . Well, heres the thing, anyone who is surprised that paul ryan is talking about entitlement reform simply hasnt been paying attention. Paul ryan has been really the only serious entitlement reformer in the modern era. So going into the president ial election last year when you heard the president talk about how he doesnt want to look at Social Security and medicare, i think it was pretty obvious that congress and the president werent on the same page there. Moving into next year, its very important we have conservatives staying true to the principles of cutting down the size of government, making sure we have prudent fiscal policy in place but also recognizing the limitations there. And thats that we have a different political environment. We have a republican president whos concerned about those principles but has already expressed he is not as excited about taking on the entitlement reform that republicans are expressing reform for. David well, maddie, the president has said hes not going to cut medicare and Social Security and at one point said medicaid as well. But you can do a lot to cut back expenses without cutting the programs themselves. Supposedly, according to a gao report in 2015, medicare alone has 60 billion a year in waste and fraud. 60 billion a year. You can cut back a lot of that waste and fraud by tightening up the system which doesnt necessarily involve congress. You could do it with inspect ors general inspectors general and widening the amount of discretion that medicare has as an agency to the correct things that need to be corrected, right . Sure. And i dont want to downplay how much reform needs to be done and the extent to which that can be done. Social security and medicare present tens of trillions of dollars in liabilities over the coming decade. I mean, thats a huge amount of money. So clearly, tinkering around the edges is not a solution for longterm sustainability. But youre right, waste, fraud and abuse are certainly something we should be tackling at the outset. Procedural reforms, i think, are very important. You look at things like food stamps, those are always passed in conjunction with the farm bill which really creates a morass moving forward. David good point. And speeds the political wheels of urban democrats getting onboard, increases in spending in welfare when really if we could separate out policies, take a significant look at those policies and make sure that the right reforms are going into place, that could really yield some results. David and, mary, then you have medicaid which is totally unsustainable and just grew enormously during the obama administration. I mean, it just because of obamacare itself. You talk to any doctor who works in an emergency ward, and he or she will tell you these Horror Stories about how people use ambulances because their kid has a cold, an ambulance that costs 2,000, 3,000 a trip. Theres so much waste and abuse in in medicaid, seems to me thatyou really cracked down on that waste and fraud, you could save billions. Yeah, i think you make a really good point which is there are thing that is the government can do administratively and things they have to do through congress. And one avenue here is that donald trump and the administration tries to use more administrative power to sort of rein in some of the spending. I mean, i think that the, you know, the obvious problem here is that once people, American People have an entitlement, its very hard to take apart. And thats precisely what obama and the democrats knew when they built this thing. Look, and thats exactly right, obamacare. But i think 2018 is the year of infrastructure and the wall. I think were going to tie the wall into that. David but thats growing government, not. Linking it. I understand, but we cut taxes, so were going to have a lot more federal revenue coming in, like i said earlier. This is a reality developer thats in office, and infrastructure is something he knows very well, so hes going to use that to his advantage. And i think the walls going to be built. We already have prototypes. And i think its immigration these are the issues that america heard from the president talk a lot on the campaign trail, promises that were made, and they have to be kept. And so far hes done a good job of that. We were one vote short on obamacare, so i think infrastructure and the wall, 2018. David he wants to deliver. Maddie, thank you very much for coming in, i appreciate it. Well hear more from our panel coming up. Meanwhile, republicans continuing to blast the fbi. Will these attacks on the agency play well with voters . Well talk about that coming up. Well, its earnings season once again. Yeah. Lot of Tech Companies are reporting today. And, hows it looking . I dont know. Theres so many opinions out there, its hard to make sense of it all. Well, victor, do you have something for him . Check this out. Td ameritrade aggregates thousands of earnings estimates into a single data point. That way you can keep your eyes on the big picture. Huh. Feel better . Much better. Yeah, me too. Wow, you really did a number on this thing. Sorry about that. Thats alright. I got a box of em. Thousands of opinions. One estimate. The earnings tool from Td Ameritrade. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats 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. David the House Intel Committee issuia subpoena to an associate of senator john mccain. To blake burman now with the latest. Its this guy named david kramer who we just saw a picture of. If he responds to the subpoena, will he plead the fifth, or will he answer the questions . Any word on that . Reporter you know, david kramer has already appeared before the House Intelligence Committee, david. This was on december 19th, i believe, so last week. And the subpoena extends, according to byron york of the washington examiner, from that prior testimony from earlier month. As for kramer himself, hes been subpoenaed by the House Intelligence Committee chairman, devin nunes. This all stems from november 2016 after the election last year. According to yorks reporting, kramer went to london to meet with Christopher Steele who you know that name put together, the antitrump dossier. And according to new york after that, kramer then gave the dossier to senator john mccain. Mccain then gave it to the fbi. But, of course, at that point the fbi already had that dossier. Now youve got the extra subpoena coming from devin nunes after kramer has already gone up to capitol hill and spoken with members of the House Intelligence Committee. As for this dossier, you know where the president stands on this one. He tweeted about it earlier this week calling it a, quote, pile of garbage. David blake, thank you very much. Florida republican congressmen Francis Rooney and matt gaetz blasting the fbi. Take a listen. I was so overwhelmed and fearful when i saw the kind of conduct that mr. Strock and mr. Orr and deputy general mccabe were engaged in, i just feel for an agency is that has so much influence other americans lives, they have to be purer than pure. And this is, what i read was very disturbing, and i dont think they should be working there. I mean, i dont know if Robert Mueller was grossly negligent or extremely careless in putting together this particular group of people investigating the president , but the more than people are now aware of that bias. They will not tolerate any attempt to remove or undermine this president. David to lee speakerman on if the congressman is right to be so concerned. What do you think, lee . Well, of course he is. You know, david, it may well turn out the only good thing to come out of this ridiculous russia investigation is that its laying bare real corruption in the fbi and the department of justice. We basically have a j. Edgar hoover fbi here between orr, mccabe, baker, strock and senator mccain, part of the establishment republican cabal that tried to take trump down before he was even nominated for president. So we have a huge problem here. I agree with the congressmen. They heard the testimony, and they were alarmed. And i keep hearing people say, well, gee, you know, strzok has a right to his political views. David no, this went beyond that. First we need to use the military standard which is, yes, you can vote. Of course every americans entitled to an opinion, but you have to operate in a nonpartisan manner when it comes to performance of your government duties. David thats right. No, if he was using the offices of his position at the fbi in order to thwart an election, the popular selection, then that is absolutely very bow tim. The americans saw so much b. S. , frankly, in terms of fake news stories that came out, in term of investigations that went nowhere, there still has been no evidence of collusion despite so many thousands of man hours focused on it. Does the American Public have the appetite to follow this thing now on the trump dossier . Well, i think that theres going to be theres a lot of white news, and people are not just hearing it. I think the big thing, the next big shoe to drop is going to be whether or not jim jordan and the republicans in the house can get ahold of the fisa application. That was the application that the fbi used to ask for the surveillance on Paul Paul Paul t and other david and, of course, the president himself could release that, correct . The president has the power to release the information that led to that fisa report. I think trump is going to have to get involved. Going back to whether the base is listening, i mean, i think you need some big event that is going to be material evidence to show people. Because the real trump dielards, yes, theyre diehards, yes, theyre listening. Its been going on for so long, and it seems, comes off as he said she said. Whereas if you get that fisa application, i think thats going to clarify a lot. David jason, what is clear now is there was a group of people as lee was saying, peter strzok, andy mccabe, the others, who were focused on this trump dossier, a lot of largely discredited information in it, but they saw it as a bombshell, and they were pushing it to everybody who hated trump. Not only democrats, but as we saw, to mccain. We know theres been bad blood between john mccain and donald trump since before the election when, of course, donald trump said some things about mccain that mccain didnt like. So they were just feeding this stuff to people who hated trump to try to get them on the warpath. Its astonishing to me. And what i call this is clinton cancer. It metastasized into the fbi and doj before trump took office, and now you have the mueller investigation, and these investigators might as well be michael moore. They hate donald trump. So i think the bias is seen, the voters see the bias. I think this witch hunt, its time for it to come to an end. We do see evidence of collusion. We see evidence at Hillary Clintons campaign and the dnc funded a fake trump dossier that obama took and used for a fisa warrant to then wiretap and surveil the trump team. David right. It was more than that. Lee, i think back to that insurance comment that peter strzok made, if the president does get elected despite all of our knowledge that he wont, weve got this insurance policy. And apparently, the trump dossier was and, again, it was like a drug dealer dealing heroin to a drug addict. I mean, these people were eating it up. Everybody who hated trump was eating up every page of that dossier no matter how much b. S. Was in it. Well, its like a movie. I mean, literally you have i dont want to call it the deep state, it should be called the deplorable state, and its a deplorable state of affairs when you have people in our government manipulating elections. Again, that was j. Edgar hoover style of intelligence, if you want to call it that. In the thing that needs to be made a lot more another thing that needs to be disseminated more widely is that getting a fisa warrant; that is, getting an authorization from the special fisa court to wiretap or surveil, 99 of those requests are approved. David right. 99 . So adding that dossier, and that was just icing on cake. They were going to get the surveillance. They needed a patina, some kind of pretense, and they walked in with that. It was nicely annotated and had dividers and nicely printed, and the judge looked at that and, oh, okay, russia. It makes no sense that president obama, having been warned repeatedly about russian interference in the election, did nothing about it until the election was over, let that go, imposed no major sanctions during the campaign. It wasnt until after the election. That makes no sense. And you what we have got to have is two things. One, get rid of mueller. Based on all of this corruption, you know, they say if you see one cockroach, there are a thousand in the wall, you know . Mccabe and strzok and basic, thats just the three we know about. No telling how deeply this corruption david i dont know, the question about mueller, by the way, and weve got to wrap now, but the question about mueller is if you believe he should be gotten hid rid of, how we need a new a. G. Anyway because, frankly, its not doing the job. We need a new a. G. , he or she needs to david it is clearly a mess, theres no question. And it also shows the awesome and scary power of an agency. I mean, the fbi is [inaudible conversations] thousands of wonderful agents but, again, occasionally every decade or so there seems to need to be a House Cleaning at the top, and this seems to be one of those moments. Lee speakerman, good to see you, sir. Thank you very much. Republicans and democrats claiming to have the advantage heading into 2018. Next, why both parties could be wrong. And then a new housing analysis that could shock you. Thats coming up. Plus, im going to be back here at 4 p. M. With after bell with more of the polls showing the top concern is for americans, Hector Barreto talks to the us about Small Business concerns going into 2018. Also the latest forecast coming up. David the latest polls show the gop suffering a major deficit with women by 20 points in the nbc wall street journal poll, but democrats struggling with a cash deficit, six times the rnc with six times the cash of the dnc. Scott martin, great to see you. Thanks for coming in. What do these numbers tell you about whats going to happen in 2018 . Lots of things, but we dont know whats really going to happen because its what the political environment is like in november, not january, that matters. Right now the democrats have a clear advantage. The republicans have been suffering from lack of enthusiasm among their base, partly because until the Tax Reform Act, they didnt see a good reason to keep republicans in kohl control of congress in control of congress. Theyve also been hurt by some of Donald Trumps actions and rhetoric david is that whats affecting the deficit in the womens vote . Thats part of it. In 2016 women voted for Hillary Clinton. The question gets to be how big will that gap. And part of that is will women who dont like republicans see them perhaps as lesser of two evils when they look at the other option . David particularly after youve seen these Sexual Harassment scandals in congress which are just as much of that going on with the democratic side if not more than republicans. And, look, thats a big wildcard for this year. The impact of the tax reform legislation is a big wildcard, the impact of Obamacare Mandate repeal is a wildcard. A lot of things will be changing in the next few months. It wont be closer to summer before we have a good handle. David mary, the womens vote in particular, what do you think about its direction . Is it going to switch by the time the Elections Come around . Well, you know, i think its in secret that lot of women dont like donald trump, and that has a lot to do with just his style. He just is abrasive to women. Not all women, but many david the same would be true for john conyers and al franken because of what theyve done. Yeah, im not talking about necessarily those particular instances which, in fact, donald trump denies that they happened. But i think more generally, just his style david i see. The way he comports himself. Women dont like that. But i do think in the end sort of what scott was saying, women are just like men and they really vote their pocketbooks as well. And if the tax reform is successful, if the economy picks up, if, you know, women feel like their families are in a better place come election day, i think that will matter a lot in how david im going to get to you, jason, but i just want to check on what mary said. Is that true, that if an economy turns around, all these predictions about how one partys favored over the other fall by the wayside . Its all about the economy. The economy is the driving force. In 2018. A big part of it, though, will be can donald trump and hes got to be the person who does this can donald trump connect his tax reform effort and his efforts to reduce the Regulatory Burden enough to say this is the reason the economys doing better. David right. If he can make that connection, the republicans will be in better shape than they are today. David jason, i went back to some polls 11 months before the 2016 election are. They were so far off. It was an embarrassment. Im sure Scott Rasmussen would not be included in that. Shouldnt we be a little more skeptical of the polls now because of what happened in 2016 . The answer is, yes. And, scott, i apologize. Thats all right. I didnt poll in 2016. [laughter] the Huffington Post had a poll three days out before the election that said Hillary Clinton would win by 98 . I would disregard polls at this moment in time. We just passed monumental tax reform and tax cuts. When those start to set in and the economy starts to improve, he will increase his women voter pool, and i think voters. I think also just across the board, i think if you look at Ronald Reagan and his favorability rating after 1980, it was 18 at some point during his term. And he then wiped the map, right . And he lost, i think, one state. David right. I think you could see that happen. I think you could see a donald reagan. [laughter] david weve got to leaf it at that. Scott, thanks for coming in. Signs 2018 could be a rocky one for apple. Well tell you why coming up. I used to have more hair. I used to have more color. And. I used to have cancer. I beat it. I did. Not alone. I used to have no idea what the American Cancer Society did. Research . Yeah. But also free rides to chemo and free lodging near hospitals. I used to maybe give a little. Then i got so much back. I used to have cancer. Please give at cancer. Org. When it comes to travel, i sweat the details. Late checkout. Downalternative pillows. And of course, price. Tripadvisor helps you book a. Hotel without breaking a sweat. Because we now instantly. Search over 200 booking sites. To find you the lowest price. On the hotel you want. Dont sweat your booking. Tripadvisor. The latest reviews. The lowest prices. David tim cook and top apple executivs getting a very big pay raise this year as the Company Faces class action lawsuits and concerns over iphone x growth. Fbns Hillary Vaughn has details. So theyre getting a big payday for a lot of problems . It doesnt seem to make sense. Reporter yeah, david. It looks like apples tim cook is recovering from his embarrassing pay cut last year with a massive bonus this year. Youre right, headed into 2018, a lot of problems ahead. The tech giant gave its head guy a 74 bigger bonus after slashing his pay last year when apple failed to meet its own targeted goals, and iphone sales hit a decline. Tim cook takes home a base salary of around 3 million, and adding his share i wards his total payout tops 120 million for 2017. Apples most expensive iphone ever is facing a lukewarm demand headed into the new year. Apple reportedly cut back their iphone x shipment by 30 Million Units aztec analysts have softinged their expectations for the new device. Sales performance show the iphone x didnt boost demand like investors initially anticipated. Tech analysts at Consumer Intelligence Research partners found that iphone x sales accounted for just 30 of new iphone sales in their first month. Those combined with apples two other new devices fell short of peak levels reached in 2014 when 91 of sales went towards new iphones. Even with three new phones on the shelves, apple saw new devices in the past four years with fewer people opting in to pay for the iphones newest generation, the company is also fighting controversy surrounding their older models. Apple admitting theyve been throttling battery life on older phones, and now at least nine class action lawsuits filed around the country want to see apple in court in california, new york and illinois claim apples decision to tamper with battery life tricked users into thinking they needed to upgrade to a new phone instead of just replacing the battery. Apple is defending their decision to cut back on battery life saying that it actually extends the life of older iphones and helps users use them longer. David . David im not sure i buy it. By the way, im not going to sue anybody. Ive never sued anybody in my entire life, but both my daughter and my wife bought the new iphone x because their battery life was being drained on their old iphone 6s or whatever they had. So happened in my family as well. Hillary, thank you very much. Meanwhile, new housing analysis from realtor. Com finding millennials are now the Largest Group of home buyers. Reaction from National Association of Home Builders ceo jerry howard, Jason Meister and mary ogrady still on set with me. Jerry, have you seen a boom in millennials buying houses . Yeah, we actually have seen millennials coming into the market since the end of the recession. Millennial Home Ownership has risen by about 4 which is a very significant jump. Its been encouraging. David but i, you know, my fist its always a mistake to compare yourself, i know. But when i bought my first property, it was a 48,000 apartment in new york. That tells you how long it was, it was 1989, i couldnt get a bank loan. I had to get a 10,000 loan from family members. With that i was barely able to buy into it. Im glad i did, i still have it. But the point is, is that how are millennials getting loans . Nowadays theyre talking about a 400,000 house, right . Well, youre talking about an issue thats facing the country in a big way not only because of the demand by the millennials, but the impact of the doddfrank legislation in the last Congress David right. Is really making it much more difficult. But once they do get the credit, millennials are proving to be as worthy of that credit as any other segment of the population. So they have a tough hurdle to get through at first, but once they get in there, theyre doing a good job of david thats a very earn couraging sign. Encouraging sign. We hear a lot of disparaging remarks about millennials, but according to what were finding out now about housing bills, thats not true, right . No, theyre doing a great job at it. I think the Tax Reform Act is going to bring down their tax burden, help them pay off their Student Loans faster and bring the millennials into the marketplace. David its not only that its difficult to get a loan if youre a millennial or young person, but they already are dealing with student debt, and thats a huge overhang in their lives. A huge burden on on them. I also want to make a point about millennials and the tax bill with regards to Home Ownership. Theyve just risen to about 40 of existing home sales which is the historical average. But what i think is going to be a problem is in the blue states, millennials in the major cities with the deductibles and the deductions, thats going to be a problem for them. So i think youre going to see them them pull back in the blue states and major cities and be more in the rental market. David mary, do you have any concerns about the fact that we may be getting into another housing bubble, that maybe people are building up too much debt in order to buy into the Housing Market . Well, i think for sure the commitment that people said you had to have 20 down going forward, thats winding down. I mean, you have lots of examples of companies that are lending, allowing people to take mortgages with much smaller town payment. But i think the other thing thats really interesting here is there seems to be kind of a surprise that millennials are getting into the Housing Market. Millennials are now the largest generational group. They are larger than the baby boomers because baby boomers are dying off, and they are maturing. The oldest millennials are now 32 years old. So i think its very normal that theyre getting married, theyre having children, they want to own houses. And i think what youre seeing here is that they finally are feeling the confidence in the economy to make these commitments. Remember when paul ryan was running as Vice President to mitt romney, he made that joke about, you know, are you going to be sitting on your parents couch in the basement looking at obamas poster and living with your parents for the rest of your life, and thats basically what a lot of millennials had to do when the economy was growing less than 2 a year. Now i think theyre feeling more confident, they feel like they can take on these adult responsibilities. David jerry, does that jibe with your experience . It sure does. Not only that, itll be comforting to guys like you and i, david, the millennials track almost identically with previous generation. 75 of them want to own a singlefamily detached house. Theyre concerned about schools, theyre concerned about parks, about energy efficiency. As they mature, they become exactly what their parents were even though that might scare some of them. [laughter] david it might, but it is an encouraging sign. Some things are great to know, that they continue on generation after generation. One point that david very quickly, jerry. Go ahead. Oh, yeah. This is the first time in our cubs history that theres countrys history that theres not a middle class Home Ownership tax incentive. And although we supported the tax bill, thats something were going to watch very closely and see if the millennials still come into the market as readily as they have been david its going to be an interesting experiment, no doubt. Well have to wait and see. Thank you very much, jerry, good to see you. Thank you. David before you google your next vacation, you might want to google monopoly. Ill explain that after this. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. David an arctic blast set to usher in 2018. To fox news meteorologist mick reichmuth rick reichmuth. Youre in popular demand right now. Reporter or unpopular. [laughter] david well, everybody wants to know it. Give it to us. Reporter were ushering out the season and ushering in january with the cold air. The worst of it is still up towards the north, but a lot of that arctic air is spilling down across the lower 48, and it will continue to throughout the first week of january. Probably another 1012 days where temps are going to be below average and for the next 78, really, really below average. You can get the idea here. Wind chill feels like 1 in kansas city, a 13 in kansas city, not going to last long. Were going to be dealing with bouts of cold air that continue to pull it down across the lower 48 primarily on the eastern side of the rockies and around the Northern Rockies and anywhere toward the east. That said, florida, youre looking pretty good all the way through the forecast period. Here is your current temperatures, 5 in minot. Its incredibly cold out there. Theres another system dipping down across parts of the northern plains, thats going to move across the great lakes. Notice that strange band across parts of lake michigan, that is winds converging on the lake and causing that little band of lake effect snow right there in the middle of it. Interesting for us meteorologically. Take a look at saturday, your High Temperature in fargo is 16. Thats the actual air temperature. And on sunday, a High Temperature in new york city 20 degrees, High Temperature fargo, 9. All the way down across the south, 25 in amarillo for a high. Little rock, 28. 40 in atlanta, and i think were going to be talking about a little bit of snow across parts of the south for the last day of the year. David dade you know, when i stepped outside today, it was 14 degrees outside, and i felt great for about five minutes. I felt energetic, and i got fresh air in my lungs, and then suddenly it was the pins and needles. And, of course, we didnt have any wind this morning. I think the wind is going to be coming up over the weekend. Weve got to leave it at that. Rick reichmuth, good to see you. Over 100 Million People will be traveling for the holidays, but the wall street Journal Editorial Board criticizing google for stifling travel competition. Mary ogrady, your page says google is stacking the deck. But as a libertarian, you dont want the government to come in and sort of intervene to make them less monopolistic, do you . Well, i dont, no. But i would say step one in a case like this is transparency. A lot of people who are using the Google Search engine do not realize that google is giving advantages to hotels over these Internet Companies that basically buy wholesale the hotel rooms and then sell them on their web sites like are expedia david we should mention 60 of everybody that goes on the internet looking for some kind of travel deal goes directly to google, so thats the first stop. Right. And the way the Search Engine is designed, its giving preference when you search for hotels in houston, for example, to the Major Hotel Chains because it got pressure from them. And what were saying is if youre doing that, you should be transparent about it. And theyre making those other companies that want to wholesale the rooms, theyre making them pay a fee that if they had to pay that fee, probably they wouldnt be competitive in marketing. So the idea of the editorial was, number one, transparency. Tell people what is going on with the Search Engine. David jason, the bottom line is sometimes youre attracted to these deals that you get. You see it pop up if you ever go into travel, you immediately get because they have these algorithms, you get all these messages and special deals, 60 off, 80 off a hotel deal when, in fact, itsing its 80 off a price that is so jacked up that its not a good deal. Thats true. But its the ads that theyre getting that theyre paying for, not the searches. So when you put in an organic search for travel, the first thing that comes up is not theyre not paying to be the first. Thats called web optimization. Thats hiring the right web decipher to get your thing to come up first. This is the ads. So i think theres a big difference, and we have to identify that. David and i dont think anybody wants the government more into the internet than they already are. All right, turning now to the crisis in venezuela, signs the countrys oncemighty nationalized oil company is actually dying. Mary, i wonder how much longer this government can survive. Well, i think that itll survive as long as it wants to. People said this about cuba, you know, 20, 30, 40 years ago. David true. You they know theyre sitting on a lot of oil, they dont care. David because of all the cronies yes, and the investment fled. They dont care. They feel like whatever oil is there, theyre going to keep it for themselves, theyre going to hold the power. And if people starve to death or if they go into exile, thats perfectly fine. Dad david by the way, maduro now has this new cryptocurrency, hes calling it the petro, and he says every one is backed by a barrel of oil. Yes. And you believe him, dont you, david . David not at all. You just cant wait to rush into venezuela and buy some petro . Come on. David where is Bernie Sanders in whats happening in its so clear that the socialist policies that have landed venezuela in this desperate state its in are responsible for the state its in. Wheres Bernie Sanders . Has he mentioned anything about the millions of people suffering in venezuela . I havent seen anything from him, and i think its astonishing, because it is exactly the policies that you just pointed out that have destroyed venezuela. And he puts out these policies and ax policies that would ruin our and tax policies that would ruin our country. David good to see you both. Thank you very much. Markets closing out the new year tomorrow, so will the rally continue in the new year . More after this. David new poll out, what do you think is the top concern for americans going into 2018 . Im going to give you a hint. It is not terror. So what is it . The answer revealed two hours from now on after the bell right here on fbn. Tomorrow on cavuto coast to coast, it is the last day of the trading year. Well break down the winners, lootedders and how you can win in the new year right now, trish regan always a winner. Trish i will take that, david. Homeowners in hightaxed states are rushing to pay their 2018 property taxes before the new tax bill goes into effect. Look at this line in fairfax county, virginia, right through the door. How do you like that . But the irs is warning not everyone can prepay their taxes. We have intel whether or not you are going to qualify. Trish regan, welcome to the intelligence report. Under the new tax bill, homeowners can only deduct up to 10,000. Yes, not the best news of all but here is a thought. Maybe hightaxed states like new york and california, maybe theyre just going to have to lower their taxes right . Then we wouldnt have an issue. Maybe that is in the cards. Well talk about how they might do that. Plus brand new satellite