Transcripts For FBC Cavuto Coast To Coast 20240713

America inside of the peach there. He is expected to talk about deregulation, tax cuts, tax incentives, boosted economy to the record recovery what is expected to talk about. 11 years going forward. He is expected to talk about wages are rising. We have low inflation, looking at that, boosting spending. How his policies done that you will hear frustration from democrats. This is, frustration about democrats. This is how the Vice President , chief of staff earlier talked about how democrats are holding back the administration they have not done the things what they promised to do. They problem is to work with the administration to lower drug prices. They promised to work with us on infrastructure and work with us on trade deals. We are anxious to complete the trade deals that keep this economy going. Reporter some excerpts of the speech we obtained. One of the key insights of economic power is incentives. Unlike past leaders the president is expected to say my goal to insure this power works in americas favor. He wants incentives created by our tax trade, regulatory, Energy Policies to be progrowth, proworker, he said weekly wages for lowest paid earners have grown more in three years under his administration than the entire decade before the election. Were waiting for his speech inside with the Economic Club of new york here. He is not expected though to talk about auto tariffs. Now tomorrow is when the 232 report from the Commerce Department needs to being actionable. The president could choose to delay for another 180 days or not. Were not expected to hear if auto tariffs will be imposed. That will be the next battle he is going to fight after the phase one china deal is finished. Back to you, neil. Neil edward, thank you very much. Markets making another record run. All three averages seem poised for records. S p 500 on track for the 100th record it enjoyed under President Trump. We have also got the dow and nasdaq i believe in record territory as well here this on heels of positive sentiment building certainly on the trade front even though its a mixed verdict every day. The anticipation is that they will overcome their differences and maybe hear from the president how they sort these final impediments out. How important is what is happening at corner of wall and broad to main street . Potomac advisors mark avalone. It is a central theme of is today. What do you make of it . He has the right to focus on that. The objectives are there with anybody with objective mick out look, unemployment is generational lows yet we have Economic Growth. You mentioned people on main street and lower income strata also benefiting. Minority unemployment at alltime lows. There are all reasons here this is happening with low inflation which allows the fed to stay on the sidelines. Once the fed signals they were on the sidelines cutting multiple times this year, that is when the market started taking off. Its a favorable backdrop for investors and workers on main street as well. Neil most of the Third Quarter earnings in. They came in by and large better than expected. And many are looking at things to really pick up steam in the first and second quarters of next year. Are you in that camp . Well, i think there were some misses as well. I think this was a case of where investors are looking really what the rosier side of the coin is. About a third of the companies missed their expectations. We focused on the majority that did beat. I think the global out look has to, its a global out look. Were really dependent on the economic strength of china which is showing some upticks. Were still showing structural issues in europe. Rumor is they may get around to Fiscal Relief in Regulatory Reform which could help but its a uncertain mixed bag and the reaction of investors thus far i think a little overdone. I think of late there is too much enthusiasm. I would recommend a more balanced approach to stocks, despite the fact at home the u. S. Economy looks good. Neil mark, he Will Champion the fact that he helped all types in this economy across the board. He is going to stay under my administration two million prime age americans have come off the sidelines and rejoined the labor force. This is unique to his presidency. At this stage in anyones presidency unprecedented. He might as well go beyond that audience of largely economists and ceos and cfos, to main street america, right . I think this is why he packs arenas with 50, 60, 70,000 people, because i think whats missing is, this economic recovery has trickled down to the workers who were in the past somewhat left behind. The wage growth in real terms is positive. It is at a rate higher than weve seen since before 2000. I think this is putting money in peoples pockets. People vote pocketbook issues. They feel it every day. They feel it when they make decisions. Small business owners, laborers, people in the manufacturing sector, that had a little bump from all of this are feeling it. This is where i think a Strong Foundation is to go today to the Economic Club. He is not just speaking about successes in wall street or the stock market. He is talking to all levels of the economic strata. I think that is what makes this presidency a little unique thus far. Neil thank you very, very much, mark. I want to go to elena train, the axios reporter. Were not oblivious to fact that tomorrow impeachment hearings begin in the house. The president is trying to to juxtapose what he is getting done versus a cabal la that has no stance. I dont know if he mentions impeachment, look at my record, look at what is at risk if i go, right . I did get an inside look at some of the excerpts from his upcoming speech and he really is going to be focusing on like you said his accomplishment so far. What he is able to do with the economy. He will say he delivered on his promises so far. However from a messaging standpoint impeachment is going to be dominating at least in the shortterm the messaging here. It is all consuming thing in washington. I think people across the country are excited to have these people publicly come in and testify. I know that people within the white house are hoping he stickses to the script today, doesnt really bring up impeachment but never really predictable with this president. Neil i wonder how it plays out with the American Public . You obviously talk, look what ive done, look at the economy, look at jobs, look at two million now reentered the workforce and looking to get a job or a better job. That is the backdrop to what would be at least as he put it in the last few weeks, months going back to the beginning of the mueller probe, a witchhunt . Right. Well, with regard to the economy as a messaging standpoint or impeachment, the economy and issues itself as well as immigration, health care, those are things that drive voters to the polling and really energizes them. Impeachment not so much. House Speaker Nancy Pelosi said this last year ahead of 2018 midterm elections. We went on issues. Well not going to win on impeachment. It will be really interesting to see how this plays out ahead of 2020. There is still a ton of time before then. So right now, the despite impeachment dominating the messaging really with regard to politics, it probably will be a different type of message next year. The economy will certainly be on the ballot. Neil you can count on that. Alaina treen, axios reporter. Looking at president at the Economic Club of new york, giving a layout of the things for the economy versus when he came into office, when he addressed this group in fall of 2016 when he wasor president. He wanted to make it more prosperous for not only people in the room but. Thank you very much, barbara. So sad it is live. There is always live. There is always somebody with a phone. Ask a lot of politicians no longer in politics. I want to thank marie gravas for your incredible leadership of the club. It is an honor to be here. It is wonderful to be back in new york with so many friends and distinguished leaders, business finance, academia, i have to add in real estate, all my real estate friends are here. Im especially greatful, and to your Longtime Club members because its a club with a tremendous reputation and somebody doing a absolutely incredible job as director of the National Economic council, friend of mine, who i got up hearing his voice for 35 years, driving me crazy, larry kudlow. [applause] always calm. Always cool and he is just larry. And he is terrific, ill tell you that. Three years ago i came to speak before this storied forum as a candidate for president. And at that time, america was stuck in a failed recovery, and saddled with a bleak Economic Future and it was bleak. Under the last Administration Nearly 200,000 manufacturing jobs had been lost, almost five million more americans had left the labor force and, jobs were not exactly what you would call plentiful. 10 Million People had been added to the food stamp roles. In 2016 department of labor predicted that americans would continue to drop out of the workforce in Record Numbers. They predicted and projected a decade of sluggish growth and they expected unemployment over 5 and really six, seven, and in some cases 8 for years to come. The socalled experts said the, america had no choice but to accept stagnation, decay and a shrinking middle class as the new normal that was said all the time. In short the American People were told to sit back and accept a slow, inevitable decline. But i never believed for one moment that our magnificent nation was destined for a diminished future. I knew that our destiny was in our own hands. That we could choose to reject a future of america and really look at a future of american decline, unacceptable. And to build a future of american dominance which is what i wanted. It couldnt be any other way. I would have never done this. I refused to accept that americans had to lower their expectations or give up on their dreams. America is the single greatest country in the world. And i knew that working together, we could make it even greater. In 2016 i stood before you, supremely confident in what our people could achieve if government stopped punishing American Workers, and started promoting American Workers and american companies. Our middle class was being crushed under the weight of a punitive tax code. Oppressive regulations, onesided trade deals and an Economic Policy that puts americas interest last, a very deep last at that. I knew that if we lifted these burdens from our economy and unleashed our people to pursue their ambitions, and realize their limitless potential that Economic Prosperity would come thundering back to our country at a record speed. Thats whats happening. Today im proud to stand before you as president of the United States to report that we have delivered on our promises and exceeded our expectations by a very wide margin. We have ended [applause] i was waiting for that. Thank you. I was waiting for that. [laughter] i almost didnt get it. We have ended the war on American Workers. We have stopped the assault on american industry, and we have launched an economic boom the likes of which we have never seen before. I did this despite a nearRecord Number of rate increases and quantitative tightening by the Federal Reserve since i won the election. Eight increases in total, which were in my opinion far too fast an increase and far too slow a decrease. Because remember, we are actively competing with nations who openly cut Interest Rates so that now many are actually getting paid when they pay off their loans. Known as negative interest. Whoever heard of such of thing . Give me some of that. Give me some of that money. I want some of that money. [laughter]. Our Federal Reserve doesnt let us do it. [applause] i dont say, thank you. Thank you. The smart people are clapping. Only the smart people are clapping. I dont say thats good for the world. Im not president of the world. Im president of our country, but we are competing against these other countries. Nonetheless, and the Federal Reserve doesnt let us play at that game. It puts us at a competitive disadvantage to other countries. Yet in the face of this reality, our economic policies have ushered in an unprecedented tide of prosperity, surging all throughout the nation. Were paying interest by other comparisons, were paying actually high interest. We should be paying by far the lowest interest, yet were doing better than any nation by far on earth. The extraordinary numbers tell the story. Back in 2016 before i took office the Congressional Budget Office projected that fewer than two million jobs would be created by this time in 2019. Instead my administration has created nearly 7 million jobs, going up rapidly. We beat predictions [applause] thank you. We beat predictions by more than three times the highest estimate that i saw during the campaign. Nobody thought it was even possible to get close to a seven million number. Two million was maxed out, if you were lucky, if you did a great job. Unemployment is recently achieved the lowest rate in 51 years. Africanamerican unemployment, hispanicamerican unemployment and asianamerican unemployment have all reached the lowest rates in history. Womens unemployment, the best numbers in 71 years. We expected that number of 71 years, which isnt good compared to the other numbers, is it but women will also soon be historic, we think. Bluecollar jobs are leading the way in our middle class boom. Weve added 25,000 mining jobs, 128,000 energy jobs, 1. 2 Million Manufacturing and construction jobs and manufacturing was supposed to be dead in our country. You would need according to a past administration representative, at the highest level of that past administration, you would need a magic wand to bring back manufacturing jobs. We brought them back, we brought them back to over 600,000 manufacturing jobs as of today. [applause] and those are very important jobs. Nearly seven Million People have been lifted off very importantly food stamps, seven Million People off of food stamps. [applause] and were getting americans off of welfare and back into the workforce. [applause] nearly 2. 5 million americans have risen out of poverty. Thats a record. The rate of africanamerican and hispanicamerican families in poverty has plummeted to the lowest level ever recorded by far. [applause] most of you people wouldnt know these numbers but most are not active in the market but since my election, the s p 500 is up over 45 , the dow jones is up over 50 , and the nasdaq is up 60 . Slightly more. [applause] and if we had a Federal Reserve that worked with us, you could have added another 25 to each one of those numbers, i guarranty you that. That doesnt happen. [applause] but we all make mistakes, dont we . Not too often. We do make them on occasion. American markets have vastly outpaced the rest of the world. This exceptional growth is boosting 401 k s, pensions, and College Savings accounts for millions and millions of hardworking families. You hear so much about inequality and all of the differences, all of the problems. The single biggest benefactors what weve done are middle class workers and low income families. It has been amazing actually. All together we added nearly 10 trillion of new value to our economy. That is in a short period of time. Remember i only use numbers from the time of the election, because i cant go to january 20th. It is not fair. We picked up tremendous stock market and economic numbers. They actually went wild the day after i won. I think that should be a attributed to us, not attributed to somebody else, because it would have gone in the opposite direction. It would have gone in the opposite direction had the other result taken place which fortunately it didnt. Last year the gdp growth was fastest rate in more than a decade and the best of the g7 countries by far, by far. [applause] and perhaps most importantly after years staffing nation stagnation and decline, american wages and salaries, and incomes are rising very fast. Median Household Income is now at the highest level in the history of our country. [applause] the average Median Income under president bush rose only 400 over an eightyear period. Under president obama it rose 975 over an eight year period. And under my administration, it rose 5,000 over slightly more than just 2 1 2 years. Thats a big difference. [applause] if you remember president obama was paying zero percent interest for a long period of time while were paying a much higher rate of interest. But in addition to the 5,000 we have to add 2200 for the tax cuts, average tax cuts and 2,000 to 3,000 for regulatory and energy cuts. So that would be a total of almost 10,000 versus 400 and versus 975. So, thats something. You have over eight years you have 400. Over eight years you have 975. Over 2 1 2 years were almost up to three. But this was done and calculated only as of 2 1 2. It has only gone up since then. Were at almost 10,000. So our consumers, because of this, our in the best shape, probably in the history of our country. And i think it is going to be very longlasting. Very, very longlasting. This also allows me to the latitude and timing to take some of the horrible, incompetent, just terrible trade deals that have been made over the years and make them great. It is like make America Great again, make the trade deals great, i dont know if i can use the word again. Make them great period. I dont know that they were ever good. Havent seen it. We were great. Then we werent so great but were great again. On jobs, just today, just now they announced we have the highest number of people working in the history of our country, almost 160 Million People. We have never been close to that number. [applause] so weve achieved this stunning turnaround because we have adopted a new Economic Policy that finally puts america percent. As president i understand and embrace the fact that the world is a place of fierce competition. Were competing against other nations for jobs and Industry Growth and prosperity. Factories around businesses will always find a home. It is up to us to decide whether that home will be in a foreign country or right here in our country, our beloved usa and thats where we want them to stay and be and move to. [applause] if we want our families and communities to prosper america must be the best place on earth to work, invest, innovate, build, pursue a career, hone a craft or start a business. We Want Companies to move to america, stay in america, and hire American Workers. My mission is to put our country on the very best footing to thrive, excel, compete, and to win. For many years our leaders in washington did the exact opposite. They imposed the highest Corporate Tax rates in the developed world. So high that people couldnt even understand what they were doing and they would leave. Very, very smart executives didnt want to leave but they would leave, sending our jobs and Everything Else all a flutter. They waged an unethical regulatory assault on the American People. They tried to shut down American Energy. And by the way, theyre still trying. You want to see energy shut down . Take a look at what im competing against on the other side. I dont think they even believe in energy. So far i havent found any form of energy that is acceptable to them. I think they think the factories are just going to work without energy, dont they . They dont have a clue, these people. But i dont want to mention it yet. [laughter]. I want to wait a little bit longer. Let them go a little bit further so they cant take it back. Because as a campaign i like it. I like it very much. [applause] let them keep talking. Boy, every time they talk i say it is easier than i anticipated. They passed the disasterous trade deals. That encouraged the shuttering of american plants. And the offshoring of american jobs by the millions. In short the failed Political Class sold out American Workers, sold out american prosperity. And sold out the american dream. This was the alarming situation i was asked to end. People are losing and losing rapidly and fast. Those days are gone and were not going back. As you know, one of the key insights of economics is the power of incentives. Unlike past leaders my goal is to insure that this power works for americas favor and for americas workers and for americas companies. We want the incentives created by our tax trade, regulatory and Energy Policies to be progrowth, proworker, and 100 proamerican and more is yet to come. If we take back the house, in 2020. Retain the senate and the white house, you will see things that, even this room, youve experienced a lot of great times over the last 2 1 2 years, but even you will be surprised to see. We have tremendous economic potential. We have tremendous potential. We have tremendous economic potential. At the heart of our economic revival is the biggest tax cut and reforms in american history. We provided massive relief for working families, saving 2,000 a year for a typical family of four, to bring jobs back, we lowered our business bass tax rate from the highest tax rate in the developed world, down to a very competitive number, not quite the lowest but getting close. And we may even be able to get there one day not too, in the nottoodistant future. By the way were taking in more tax revenue, with these greatly reduced rates. 21 . It was 39. When you added Everything Else, it was well into the 40s. You couldnt bring your money back. Because that was prohibitive. Both ministerially and from an economic standpoint, the rate was so high. But we brought it down to a level that, were very proud of and we think we can bring it down still more. Yet were raising. We have more tax revenues coming into the treasury than weve ever had before. That tells you something right there. Since then, nearly one trillion dollars have returned to our shores where that money belongs. Couldnt get it back no matter what you did, you couldnt do it. It was not only the rate being so high but the bureaucracy, the documents, the signings, nobody could do it. To promote investment in distressed American Communities our tax plan created nearly 9,000 Opportunity Zones which are one of the biggest successes that you have ever seen. I dont think there has ever been anything like it. Worked with tim scott, senator tim scott south carolina. Many senators we do work with and frankly congress. We passed something that nobody thought was possible to get passed. And nobody thought it could ever work the way it is. Capital gains on longterm investment are now taxed in an Opportunity Zone at zero and money is flooding in. Investment is pouring into these long, neglected communities. The government wasnt putting money in. Nobody was. They were dying. And now tremendous, they call it neighborhood push. Its incredible whats happening. It is one of the, not spoken of by the Fake News Media but they should speak about it because i will tell you it is one of the great successes weve all had. It is employing tremendous numbers of people. You have communities that were down and totally out and theyre reviving like nobodys ever seen. Opportunity zones, remember those two words. We believe in no american left behind and we understand the enormous power of investment, capital and opportunity to revitalize communities and bring hope where it is needed the most. To liberate our economy my administration launched the biggest, boldest, the most Ambitious Campaign to reduce regulation. Nobody has ever come close. No administration has ever come close. In 2 1 2 years weve done far more than any other administration, whether it was four years, eight years, or in one case more than eight years. Nobody has come close to doing what weve done with regulations. [applause] and i happen to think, as great as the tax cut was, the largest in our history, i really happen to think that the regulation cuts may have had an even bigger impact on the economy. It was quicker because we were able to do them very early in the administration. Earlier than the tax cuts. Within days of taking office i issued an executive order to end the outstanding, horrible, federal intrusions that you saw. It was an onslaught into business, into peoples lives, and it was really done by unelected bureaucrats. They were really accountable and nobody held them accountable. And sometimes it is not pleasant to hold them accountable but i do it. I do it. And we had no choice because we were going nowhere fast. My order required that for everyone new regulation two old regulations must be eliminated. But instead of two for one, we have now eliminated nine for one and we think that within the next six months, it will be close to 20 for one, instead of two for one. [applause] it sounds like a lot. But you have no idea when you look at the piles and piles and piles of regulations on each one of our great secretaries we had, we have some great people working here. But you go into rooms half the size of this. They would literally be stacked to the ceiling with regulations. Nobodys ever seen anything like it. We have actually, i think a fairly long way to go. We need regulation but it has to be smart regulation. Highways were taking 20 years to get built, to get approved. You would put in an application. 20, 21 years later they would reject it. It would cost many times more, 25, 30, 40 times more but they were taking 20 years. Were trying to get down to one. It may get rejected and thats okay, but you havent spent 20 years on Environmental Impact statements to build a simple highway or roadway needed. We have it down close to one year. We want to hit the one year number. If we reject it, it will be rejected fast, swiftly, but mostly it will not be rejected. We ended the ridiculous waters of the United States rule. What a beautiful name. The name was beautiful. The act was a disaster. It didnt allow to do anything. When i signed it, i said you know, waters of the United States, what could be a more beautiful title. Im going to get killed when i sign this. To kill it i had to kill it. It was, it made Land Development prohibitive. It made impossible situations for farmers, for everybody. And i had 35 people in my office, farmers, builders, ranchers and others, strong people, very strong men and women, almost all of them were crying. They said you have given our life back. These laws were horrible. They took away everything. You would have a puddle in your land and they would call it your under river control, you were under lake control for what is called a puddle. You couldnt get anywhere near it. If you did you would literally be arrested. Were streamlining approvals for critical infrastructure. Our regulatory roadblock is also leading to major Price Reductions in health care and Prescription Drugs. Weve got the Prescription Drugs, first time in 53 years that Prescription Drug prices have gone down and if we had help from the democrat which we do not have, you possibly noticed that, we would have, we would be able to cut Prescription Drugs by 30, 40, and 50 . I have told some of the governors, ron desantis in florida, go buy them from other countries. Im okay with it. I will give them an executive order. Canada, other countries sell the exact same drug for the exact same factory, for sometimes 50, 60, 70 less than we do. And rather than going through the political charade and all of the things, middlemen, i hope we dont have any middlemen in here, somebody will not like me too much, middlemen, any middlemen . I think they have to be the richest people in the world if you want to know the truth. They make far more than drug cases in most cases. By it from other companies, countries, you go out to other countries. What happens the companies are coming back, they want to make a great deal. Im giving right of governors to go to canada, go to england, go all over, all over europe where the prices are so much less because we were forced to pay for all research and development and they didnt pick up any of the cost. Ridiculous rules. So unfair to our country. Buy them from other countries, pass along the savings. The savings will be staggering and were starting that program but as soon as we start that program, watch what happens to the drug prices they will come down over here. The same Companies Make the drugs. Exact same companies, hard to believe. All together our regulatory cuts as mentioned save american households thousands and thousands of dollars every year. The foundation of american liberty and prosperity is always been the rule of law. Throughout history economies have failed when the rule of law is abandoned. Thats why we must protect the constitutional rules law in our country, at all costs. [applause] so important. Weve got some lawless people in very high positions, theyre lawless. For this reason we have now appointed as of today 161, fully approved, brand new federal judges, court of appeals judges, to interpret our constitution as written. That will soon be 182 judges. [applause] and as you know, two Supreme Court justices, who are great gentlemen, both, fully in, making very Big Decisions even today as we speak. The 161, 162 that we have now will be at 182 within two month. And then we normalize. We go through the normal system. When i came in to office one of the first things i said was how many federal judges do i have to appoint . I always heard it was the most important thing a president can do, federal judges, Supreme Court justices. Sir, you have 142. I said what . Because i was always told you would never have any. Maybe you would have one or two, maybe three, if the previous president wasnt doing a good job. But they said you have 142. I said you have to be kidding . We did. We had 142. Weve added to that through Different Things and we will be at 182. That will be a record. Nobody has ever done that before. It was shocking but i just want to say thank you very much, president obama, we appreciate it very much for the 142. Thank you. [applause] im sure his party is thrilled with him. But if they arent they wont say anything, dont worry about it. Thanks to these and other policies, last year the World Economic forum recognized the United States as the globes most competitive economy. We put it back into this position where we are competitive like no other nation. To fuel our economic boom, we are bolding, boldly pursuing American Energy independence. You see that in the middle east where ships are at great danger. They keep saying what happened to the american ships . They dont see too Many American ships over there anymore, did you notice that . We stopped the radical crusade to dismantle u. S. Energy production and empower rogue regimes. We withdraw from the onesided, horrible, horrible, economically unfair, close your businesses down within three years, dont frack, dont drill, we dont want any energy, the horrible Paris Climate Accord that killed american jobs and shielded foreign polluters. It was a disaster for this country. Ask them how are they doing in paris with your paris accord . Not too good. I will tell you when i signed, that was another one, clean waters of the United States. Well the paris accord too. And i said this is going to take guts. I closed my eyes and i signed it. I got one day of a big hit from many so offed are call left newspapers. After that, everybody thanks me. They thank me so profusely. Youre talking about trillions and trillions of dollars of destruction would have been done to our country, with the Paris Climate Accord. And it is, so unfair. It doesnt kick in for china until 2030. Russia goes back into the 1990s where the base year was the dirtiest ever year in the world. India, were supposed to pay them money because theyre a developing nation. I said were a developing nation too. Why arent we . [laughter]. Under the wto china is called a developing nation. So wrote them a letter recently, larry knows it, im not sure larry liked the idea too much but he went along with it, we wrote them a very tough letter, larry, what . I wrote it. Larry wrote it. You hopped on that bandwagon quickly, didnt you . Thats okay. We wrote them a letter, said much more strongly than the letter, that not fair to have china as a developing nation. One of the reasons they have taken advantage of us is because of that. And were considered the big fat cow and no longer. No longer. We have a lot of things to work out. I will say this, because they know that im very tentative on the wto, were winning cases for the first time. We just won a 7 1 2 billion dollar case. We never won cases. They would rule against us because they said, hey, dont worry about the United States. Theyre the stupid people. Dont worry, rule against them. We had case after case. Now were winning cases because they really think that i will do something very powerful, which we have the right to do. And there right when they think that way. Were winning a lot of cases at the wto level that we never even thought of winning before. America is now the number one producer of oil and natural gas on the entire planet earth. Net Energy Imports [applause] net Energy Imports, this is great, set a his tore rec low. It is a 58year low but that sown low because they only go back 58 years. I assume if it is low now, it is lower than it used to be unless something happened very strange back then. It is at a historic low. Were now a net exporter of natural gas and we recently became a net exporter of crude oil and petroleum uk pros in our countrys history. Its a big thing. [applause] according to the coins silk of economic advisors, the astonishing increase in production made possible by the shale revolution, saves americans 2500 for a in lowering electric bills and prices at the pump. The number is actually now even higher than that. My administration is also restoring the principle that to be a strong nation america must be a manufacturing nation. These are great jobs. These are brilliant, great, people that know how to manufacture. These people were underappreciated and undertaken care of but we take care of them. We cherish them. Past leaders wrote off American Manufacturing as dead but their policies were the ones that were actually killing it. We killed manufacturing. That is why we were losing all those jobs because we made it impossible to manufacture. We have opened it all up. After losing, and this is a number that is hard to believe, ive been saying it for three years, i know it is right, because the fake news never corrected me if it was wrong it would have been headlines, trump made a mistake but they cant say it after losing 60,000, can you believe that, factories under the previous two administrations, america is now gaining over 10,000 brand new beautiful factories and many, many more than that want to come back in because under my administration were producing jobs and incentives for these companies to come back. Im calling as an example Prime Minister abe of japan. I say, mr. Prime minister, shinzo, we have tremendous problem. We have big deficits with your country. I got to Start Building plants. He is building many, many car plants in the United States that he would have never built here if you didnt have this kind of a president and he is very happy to be doing it. But theyre all coming back to the United States. They want to be where the action is, very simple. They want to be where the action is. This is where the action is. There is nobody close, there is no country close. When i meet with leaders of countries as they come in, kings, queens, Prime Ministers, president s dictators, i meet them all, anybody wants to come in, dictators, thats okay, come on in, whatever is good for the United States, we want to help our people, the first thing they say to me, almost always, congratulations on your economy. They all say it, congratulations. It is incredible whats happened to your country. It is incredible what happened to your economy. First thing they say in almost every instance, but central to this comeback is a series of bold initiatives to reform a broken system of international trade. We want thriving commerce, with as many countries as possible but trade must be fair and to me it must be my favorite word, reciprocal. If it is not reciprocal. Getting it to be much more reciprocal. The American Market is the most valuable and coveted market anywhere in the world. Those who want access must play by the rules and have to respect our game and our laws and have to treat our workers and businesses fairly, not the way they have been treating them over the last 25 years. America will not be taken advantage of anymore. [applause] many countries charge us extraordinarily high tariffs or create impossible trade barriers, impossible. And i will be honest, european union, very, very difficult. The barriers they have up are terrible. Terrible. In many ways, worse than china. Were working on legislation known as the United States reciprocal trade act, meaning quite simply, what is good for them is good for us. They want to charge us, we charge them. That is a very simple thing, even people not wellversed what we all do, say i went to a couple senators. I went to lindsey graham, let me ask you what do you think of that . They are charging us 100 , well charge them. Makes sense to me. Make sense to everybody. Because it is very unfair the way were treated by certain countries. There are certain countries the average tariff is over 100 and we charge them nothing. Then they call it fair trade. That is not fair trade. That is stupid trade. [laughter]. Of course this will be subject to regaining the the house to be able to do these things. Nowhere has the u. S. Change in strategy been more vital and dramatic with our dealings with respect to china. Before my election washington politicians stood by and did nothing while china ransacked our companies, stole our intellectual property, subsidized their industries at the expense of ours and dumped their products in a deliberate strategy to close american factories all across our land. For many years americans leaders just sat back, maybe they didnt understand what was going on . It is impossible to believe that, but they just let it happen and it has gotten worse and worse and worse and now weve changed it. Changed a lot. Im sure you havent noticed, but it changed a lot. In particular since chinas entrance into the World Trade Organization in 2001, no one has manipulated numbers better or taken advantage of the United States more, and i wont use this word cheated, i will not say the word cheated, but nobody is cheated better than china but i will not say that. Well say that off the record, okay . And there is only about 600 cameras back there. In fact that is a big group up there. Good, i hope you use it, because it is true. They understand it is true. I dont blame china by the way. I blame our leaders because we should have been doing what they were doing. They did it to us. We didnt do it to them. We were defenseless. We had no leadership for a long time. This is long beyond the obama administration. So i dont blame them. I said this to president xi. I was making a big speech in china. 5000 people in front of me. I was talking about how bad china was. I said, this is not going over well. I was in beijing, this massive hall. I looked down at president xi who was sitting where larry is. He was not as imposing a figure as larry kudlow but he was quite imposing and i said, i said, i think he is getting very angry. Then i realized how do we save this . This will be a disasterous afternoon. But i said, i dont blame china. I blame our leaders. Then i realized it is true. I blamed our leaders allowing it to happen. I told that to you an many people many times. But the theft of american jobs and american wealth is over. They understand that. My administration is taking the toughest ever action to confront chinas trade abuses. Were taking in billions and billions of dollars in tariffs that china is paying for. Were not paying. China is paying. Because theyre devaluing their currency to such an extent, theyre pouring tremendous amounts of cash into their system. Theyre having the worst year in more than 57 years, more than half a century. Their supply chains are cracking very badly and they are dying to make a deal. Were the ones that are deciding whether or not we want to make a deal. Were close. A significant phase one trade deal with china could happen. It could happen soon. But we will only except a deal if it is good for the United States and our workers and our Great Companies because, we have been hit very hard. We would have deficits for many years go back many years, 500 billion a year. Not million. Not billion. 500 million a year is a lot. 500 billion trade deficit with china. China makes up almost 60 of our deficits. We also renegotiated the last administrations failed trade agreement with south korea. Its a terrible agreement. Our new agreement doubles the number of american cars that could be sold to south korea under the u. S. Standard. It keeps americas 25 import tax, known as the chicken tax, on small trucks which was already to disappear. It was going to disappear. The deal from the Previous Administration was projected by them to add 250,000 jobs, they were right. It did ad 250,000 jobs. Unfortunately the jobs went to south korea, not to the United States. That is what we got stuck with. We also struck a deal which is historic, with japan. It is just partial because were having very tough negotiations and strong negotiations, with japan to substantially reduce barriers for american agriculture and facilitate 40 billion in digital trade and agricultural pretty muchs. That deal was signed. Its a great deal. It is only phase one of the japan deal too. A lot of these leaders dont like me too much, folks. When you hear im not so popular in various countries. Please dont accept that, gee, he doesnt have a good personality. Realize what im trying to do for you. It is about time, please. [applause] they recently came out with a poll that president obama is much more popular in germany than i am. I said, guess what . He should be. He should be. [laughter]. Today im more popular than him you know im not doing my job. Lets put it that way. [applause] were being treated very badly by countries of they have taken advantage of us for many, many years. It is hard to break that cycle but were breaking it, were getting along with them brief it or not i think they respect us far more today than they ever have if you want to know the truth. Were replacing one of the worst trade deals ever in history, nafta, with the brand new u. S. Mexico canada agreement. An historic win for american farmers, Energy Producers and manufacturers. The reason it is such a good deal, i said listen, if you dont sign this deal well charge you tariffs on your product coming into the United States including all of those cars that are now manufactured in mexico. 30 of our business was lost over the last 20 years. It went to mexico. I said, so if you dont sign it, so it is good agreement, were going to just charge you tariffs. They signed everything we wanted much. The usmca will create up to half a million american johns and add at least 1. 2 more to our total gdp. It should be much higher than that yet democrats in washington would rather pursue outrageous hoaxes which are going nowhere. The u. S. Mta can deliver real stuff for the American Workers. Usmca i has put pressure on the democrats. And most of them if you had to vote today most would actually vote for. But nancy pelosi, nervous nancy has to put it out there. And if she doesnt she is doing her party a tremendous disservice and the intrinsic country and tremendous disservice. As we crate millions new jobs we are transforming lives. Under the alaska ministration, nearly 1. 8 million americans in their prime working years, simply gave up looking for work altogether and dropped out of the labor force. Under my administration, they have come off the sidelines already, people that we thought maybe would never work again as a fully rejoined the labor force. The something we are very proud of. [applause] this includes a group that was having a hard time from the date of our founders, the day that they signed, these people have had a hard time, the former inmates, the people that went to jail who are getting a fresh start thanks to the landmark criminal Justice Reform bill that i signed into law, but maybe equally so because the economy is so good. They are coming out of jail and getting jobs and i will tell you the people that have been hiring them and i get reports, they cannot believe how good they have been in obviously not in all cases. But it is incredible. The first time that had an opportunity to get out of jail and end up with a great job enters the job more than you would and more than i would. They cannot believe what happened to them. And there are doing a phenomenal job. The first time it is ever happened in our country it is really terrific. [applause] when we say higher america, we mean higher all americans by focusing on the needs of people and not the desires of government by helping our citizens realize their ambitions and pursue rewarding careers. Over 1. 000000 fewer americans are now roots forced to rely on parttime work today then ny was elected. That is a tremendous number. People are working two jobs and three jobs and making less money than they made 21 years ago. A Record Number of americans are quitting the jobs that they have two take the job that they like even better, they they the job better and like getting up in the morning like we all do, they like going to work and they have something that they could do and they get paid more money for which is something that has probably never happened before in this country to the extent it happened now. This increased competition is driving up wages for bluecollar workers who are the biggest beneficiaries of what were talking about and all the things that im mentioning today. Real weekly live wages for the lowest pay earners have grown more in the first three years of my administration then an and te entire decade of my election and much more to that. Since the election, real wages have gone up threepoint to percent for the median American Worker but for the bottom income group real wages are soaring, a number that has never happened before, 9 and that means you might make a couple bucks less in your company, that is okay. Thats a great thing for our country. When you talk about equality, thats a great thing for our country. The tight labor market is helping them the most. Yet democrats are largely want to erase these games through an extreme policy of open borders, flooding limit labor market and driving down incomes for the poorest americans and driving crime rate through the roof. They want nothing to do with looking at the people that are coming in, and very bad people are trying to get in. We are building the wall rapidly, we have tremendous support from mexico despite what you read was a terrible thing that you read over the last couple weeks predict 27000 soldiers on our border now. Protecting us from people coming into our country. And because of that im not turfing mexican goods. So it works out well for everyone. We have 27000 mexican soldiers and they play by different rules than our people. If our people speak rudely to a person coming in it means they get the electric chair. Its a very unfair situation. Our border our laws are so bad, our immigration laws are so bad it is so sad. We have loopholes, many loopholes, i fixed them in 15 minutes but the democrats do not want to fix them, they dont want to give us a win and honestly i think they may be just dont care. And it would solve all of the problems and you would not need mexicos help, but we want to think mexico and think the president that i likewise offered a lot of help because of a tremendous problem with the cartel in the country, problem like nobody would believe. Where the cartels are almost rolling the country. And i am offering to the president of mexico, the ultimate hand in hand i have a very Good Relationship and lets ultimately see with tappan but those cartels are horrible what theyre doing. You see it everyday just turn on the news. I want people to come to our country but they must come in legally and they must come through a system of merit. We now know all of our obligations, our moral obligation is to the American Workers and were committed to helping them climb the great ladder of success. To equip them with the skills that they need and we launched the pledge to americas workers, 367 private sector partners are providing more than 14 million skills and Career Training opportunities for u. S. Workers, i have to say and very proud of my daughter yvonne cook, thats all she wants to talk about. I say can we please talk about some thing else, no, i met with walmart, she wants to make these people have great lives. And when she started this, two and half years ago, her goal was 500,000 jobs, she has now created 14 million jobs and they are being trained by these Great Companies, the greatest companies in the world because the government cannot train them. Its a great thing. [applause] so jared is here and you will thank yo her. 14 million going on. The word is witnessing the resurgence of a strong and proud and prosperous america. The world is a better place because of it also. But everything that we have achieved is under threat from the leftwing ideology that the conformity, relentless regulation and a topdown control of the entire u. S. Economy and far left politicians and our Nations Capital want a massive government takeover in healthcare and they want to give bureaucrats domination over every aspect of your business and your life. They want to eliminate american oil and natural gas, they want to enlist us in Global Projects designed to redistribute american wealth, and kill american jobs, all over our nation. Washington democrat in their radical agenda of socialism would demolish our economy, reinstate the avalanche of regulations that have already ended, decimate the middleclass and totally bankrupt our nation. As long as i am president , america will never be a socialist country. [applause] we are reawakening the majestic spirit of enterprise and expiration, discovery and all of the other things that we need to create the exceptional character that our nation has developed more now than any time in the past, we are a nation of unbridled pioneers, pensioners and risktakers. We inherit the legacy of courageous free and independent souls who ventured across oceans and settled the frontiers, tamed the wild west and raised up towering cities of concrete, iron and steel. Our american ancestors produced miracles of science, lost so many lives but launched revolutions and technology, created groundbreaking new industries, build the railroad that link their cities, fashions the skyscrapers that touch the clouds and gave us the most prosperous nation to ever exist on the face of the earth. This is our american heritage, this is who we are, this is who we will forever be, we believe in the dignity of work in the nobility of each and every American Worker, we believe the future is forged in the mind of the american inventor, the soul of the american craftsman, the heart of the american entrepreneur in the face of the american investor. We know that there is nothing that we cannot achieve as one team, one people, one family, and one glorious nation under god. With everyone here today and millions of patriots across our land, we are making america stronger, prouder and greater than ever before in ladies and gentlemen, the best is yet to come. Thank you, god bless you and god bless america. Thank you very much. [applause] you have been listening to the president of the United States asngs that have been going his way of course job growth is at record levels in the number of created manufacturing jobs, it was very clear on a couple of things he wants to clarify what he talked about china paying the tariffs and the fact of the matter is, you pay those tariffs, its a matter of how much, right now the average consumer according to a survey that was done, the Economic Club itself is the president addressing right now, he put the anywhere from 850 to 1500 per american and upsetting the growth of the economy itself and the fact that china has absorbed a lot of this by the valuing the currency. But it does not mean china pays for the terrorist, it just helps american suppliers deal with that. The president might be asked about that right now. Economic growth in Capital Spending, Capital Spending in the United States was up 10 this year, it is flat. While you mentioned in your speech significant progress has been made on several fronts. A number of industrial sectors have recently been hurt, manufacturing, automotive, and oil. What are your plans to address these economic headwinds . Thank you john. They have not been hurt, they are totally down now there little bit down perhaps the uncertainty of trade wars but there is no uncertainty. Where the bank that everybody wants to take from. Where the source the Everybody Needs and everybody wants all over the world. The real cause would be if we did nothing. The cost of doing nothing is killing us as a country bring our National Debt and so many other things but it was killing us. So when you say, perhaps this is an Absorption Base on the question, lets keep it the way it is with china. That would be the real cost, we cannot do that. One of the things i was able to do china, we have taken and we will soon be up to 100 billion in tariffs, you have not seen inflation in many cases price increases. Our farmers because i have a very Good Relationship with our farmers. Our Great American farmers, i call them patriots, they were hurt very badly by china because china targeted them because they were my vote, the whole middle of the country, its a beatable thing to see. They targeted them and i said to secretary of agriculture, how much is it, he said the year before last it was 12 billion and this year it is 16 billion in orders. I said thats okay, we will give them 28 billion in ticket right out of the tariffs and hopefully the farmers will say thank you very much china. And we distributed two years 28 billion around to china, around from china into our farmers and farms and ranches and all the people that were targeted. So i was sitting in a rough manner by china, and a very rough manner and now china is coming back and as you know the overt he started very big buys and the farmers are very happy. They dont want a subsidy or handout, but in this case i thought it was something that i wanted to do. I was able to do it. 28 billion and after that we had tremendous amounts of billions left over that we could use for tax reductions, distributed to people and if we dont make a deal with china, this gentleman can tell you we were so close to a deal the hard points of opening up china, intellectual property, a tremendous panel and one day we get a call, seven months ago, we get a call that they would like to see us and resell them and they explained why they cannot do three or four things that were already agreed to. I said okay, im in the real estate business in new york, ive heard that before. Sadly. It wasnt like i was shocked. But i was a little surprised, it is china they are not supposed to do that. They did, ill tell you what, i bet they wished they did not do it. Then i put on 25 tariffs of everything coming in on the first 250 billion of product, its going to 15 very soon and i tell this to larry and everybody, if we dont make a deal we will substantially raise those tariffs, they wil will be raised very substantially. That will be true for other countries that mistreat us to prove we been mistreated by so many countries. It is hard to believe. There are a few that have not mistreated us. I cannot blame them, if you can get away with it, i dont know how its got this way. We will have a trade deficit of over the last long period of time close to a hundred billion dollars. Whoever heard of this. 800 billion of trade deficit. It is supposed to be the other way around. So rapidly it takes a while, your statutory constraint, in some cases you take it to one phase in the bylaw you have to wait six month before you can go to phase ii and phase three and phase four. But weve met a tremendous amount of progress and we are respective on many fronts and we rebuilt our military which is very important, we can all talk about trade and judges and everything were doing but if we dont have a military in this world today, you saw what we did with albaghdadi last week and we have the greatest military force on earth. It was depleted when i took over. We have to spend more and enter money on the military otherwise its wonderful how budgets but if we dont rebuild the military and we have rebuilt it, 700 billion, 716 billion the second year, and 738 this year end our military will be at a level that nobody can even come close to compete with. And thats where we have to be paired we had a military that was so depleted, so bad, the planes were so old, many did not fly. I could tell you stories about ammunition, they did not have ammunition. We had a real problem, we have to do that otherwise everything we talk about does not matter. We have very big and very powerful players, not radical islam, im talking about beyond radicalism with a look at the bigger picture. We handle radical islamic terrorism in addition, we wipe out isis and i would like to bring your people back home. We want to bring our people back home. [applause] when i took over three years ago, isis was all over, various parts of the middle east, i would show you a map, it was produced a certain color and the color was very predominant and now the color does not exist. Now they will Start Building up again and it would be nice if other countries can handle it but maybe they wont but we have decimated isis and captured many but weve decimated isis and were going to have to keep it that way, thats why we have the leader albaghdadi, when you saw those orange jumpsuits with a cutting off of the heads, standing on the beach, many young men in this case, that was albaghdadi and we also got his second, they had just taken a man who became Second Period he got it to and guess what, we have our eye on his third, his third has a lot of problems because we know where he is too. So we have to keep it that way otherwise we will continue to have problems. You look what is happened in europe and whats going on in europe is very sad when you look at what is taking place in europe. So they have to be able to straighten out their problems. But john, we have rebuilt our military, our manufacturing is coming back at a very strong pitch. Its a little bit down from where it was last year but last we had Record Numbers. Its coming back very powerfully in our country is really strong. I think one of the things we can all talk about is a 10000 per consumer, per per person but per consumer when you look at that were going to go forward because the consumer is so strong. And its never been strong like this so we are in great shape for the future. Thank you, john. Thank you, mr. President. Mr. President , all the folks in the room are business leade leaders, business works hard to think through and mitigate risk. How do you think about risk as it relates to trade policy and a big issue like climate change. Climate change is a very complex issue. I consider myself to be in many ways and environmentalists, believe it or not, when i built buildings i did the best Environmental Impact statements, i know the game better than anybody. And i used to go into my consultants that are spending a lot of money in albany and i say what are they doing appear, they were trained to make it more difficult so we had to hire them and pay them more money than we are paying them now. And i know what it is, its clean air and Crystal Clean clearwater and we now have the cleanest air weve ever had in our country and meaning over the last 40 years, i guess 200 years ago was cleaner but there was nothing around. Im not sure that it was much cleaner if you want to know the truth. I want clean air, clean water environmentally. If you take a look we discussed the tariffs climate, that would just put us out of business for sending money all over, redoing things unnecessary and it wouldve been a catastrophe. I am very much into climate but i want the cleanest air on the planet and i have to have cleaner water and when people ask the question, your part of the question about climate, i we say, i have a little problem, we have a relatively small piece of land in the United States and you compare that to some of the other countries like china, like india, like russia, like many of the countries that absolutely are doing nothing to clean up their smokestacks and clean up all of their plants and garbage that they are dropping in the sea that flows into los angeles and all the other problems that los angeles has by the way. [laughter] what a mess that is. But when you see this happening, nobody wants to talk about it. They want to talk about our country, we have to do this, we cannot have planes any longer, we cannot have cows any longer, we cannot have anything. I say what about china, i dont think it was subscribed to a poor student coming up i actually heard the other day, some pretty good politician, ive seen him around a long time, nice white hair, you could put the guy in the movie, i dont know if he believes us, but he was a democrat and he said we have 11 years, this is the first time referred 11, now its been a year so now they think we have 11 years to live. I dont know i think these people have gone totally loco. They will kill our industry, they dont want oil, when you go to texas tell texas there will be no more drilling and no more oil and gas, we will put hundreds of thousands of people out of work, we will not fuel our factories and now millions and millions of people in a country that could not even exist. These people, i almost dont know, is this politician, i think is bad politics. But we had to be very careful, recently i walked into a meeting and i was with a group of people that generally did not like, i never liked them, a Certain Group of people, i have my likes and dislikes. [laughter] and i walked into a room a couple of hundred people, substantial people, and i said listen, i dont have to make a long speech, i dont like you, you dont like me, you have no choice but to vote for me as you will do whatever you have to do and they said yes or, we will. We think youre doing a good job. The truth is, we have no choice, the people were running against are crazy. [laughter] they are crazy. [applause] and i have to say this, i dont think there is that much, the biggest risk is the election, ill be honest. I actually believe some of these people mean what they say. I really believe that. It is just not acceptable, we have a very important election coming up, i think were going to do very well and i think we will win it and hopefully easily but it does not matter as long as we win. It will be something very important for all of you. I Great Respect for all of what you have done i know so many of you, we want to keep it going that way, our country is strong, our country is great, our economy is the best its ever been and we want to keep it that way. Thank you all very much. Thank you. [applause] neil you have been listening to the president. He said you might not like me but the fact of the matter is the people im running against are crazy, that your choice. Put in the Trump Reelection Campaign during the world series you might recall the variation went Something Like this, not perfect but better, better than any of the alternative in the nations economic recovery to say nothing of what is gone on in the stock market, all three averages by the way through the president s remarks in record territory. He said i might be in acquired taste in the stock raising a b bit, im the best that you got. This is something that would check out. We both have gotten former Colorado State senator and committee to defend the president , chairman ted in the group senior analyst. Kathy, i begin with the approved this notion that democrats are so hellbent on reversing everything that i have done even if you dont flip over me youd be crazy to vote for any of them. You probably grew that . My gosh, i dont know where to begin. He cut regulations and that helps corporations but takes away Consumer Protection and hurts the environment. Bloomberg is someone that is entering the race, i dont think the other guys are scarier to the gop right now or to the democrats. I think we have a really good candidate right now and people are excited on both sides. Neil who is the really good candidate . Bloomberg is entering the race. Neil you like bloomberg. He didnt mention Bernie Sanders or Elizabeth Warren. He is trying to say everyone is crazy, okay lets focus on a bloodbath, lets talk about the new guy in the race making the president very nervous. Neil he is not in the race he is teasing. Let me get your take on what the president is saying, this follows up on the world series ad in which he acknowledges or the people acknowledged that he might not be your cup of tea but you cannot ignore what has gone on in the economy, the job gains and Everything Else and when push comes to shove you will not want to shove him out of office. He is exactly right. He is pushing every market capitalistic policy and he is truly cutting regulations by a third. Neil theyre not all free tart under market, tariffs are not free market. Unfair trade practices that the treaty is the ministration has done for the last 30 years is not free trade either print to his credit, he is fighting back for the making people to make America Great again were other president s have nothing but to raise the flag and surrender. To his credit, he has pushed cutting taxes and lowering Corporate Taxes to make us competitive around the world when other president s have been pushing higher Corporate Taxes, this president is crating jobs, the lowest Unemployment Rate in history, african Unemployment Rate, hispanic Unemployment Rate lowest in history. What more can you ask from a president who is been under attack ever since he lifted his hand and swear the oath on the bible. He has done incredible things and thats what would happen if you Congress Working with him. Neil i want to get your take on something that the president zeroed in on we be doing a lot better if not for the Federal Reserve. This he spent a good deal of time discussing. This is a president moments ago. I did this despite a near Record Number of rate increases in quantitative tightening by the Federal Reserve since i won the election, eight increases in total which in my opinion were far too fast, an increase in far too slow a decrease. Neil what do you make of that . If not for those, first increase then the slow response to lower them. That the fed complicated things. Of course the Federal Reserve on a record respect have come in response to the uncertainty around trade. Where are you on this . I think hes absolutely right. Even the fed would admit they made mistakes. Too aggressive when it came to raising Interest Rates. Thats why they had to reverse course. If you look at what happened to the economy because of that, yes we grew a little bit slower and if you saw the slow down in manufacturing that we saw just recently in the last quarter, probably a direct response to the increase in Interest Rates. I think President Trump is saying look at the whole economy. Now we have a trade war, yeah that is impacting the economy, but that is part of your job to look at the big picture. Yes there is a trade war, give them cover and dont be too aggressive and stick to the book. These are incredible times. I think the most important thing about the speech, lets face it, the laundry list of successes. There are more successes in that speech that i heard then any president since ronald reagan. I dont think any president can say look at what weve done and have the numbers to back it up. And he did that beautifully in the speech today. He hopes the contrast which i know youre looking at and eager to see bloomberg out of the race. But joe biden in and out of the polls, Elizabeth Warren surgeon, Bernie Sanders still strong, i think its very to say in the Democratic Party is on the extreme progressive side, i am wondering its almost as if the president is saying i hope one of those two, particular Bernie Sanders or warren emerges as the nominee because they going to talk about tax increase in their plan to build this huge government that is going to undo everything, you the American People have seen over the last three years. How do you feel about that . He was so confusing, the Fact Checking was so hard to keep track, that was a speech about bragging and those numbers are not accurate. He is not good for the economy, we have so much debt, why do we have so much debt if we have such a great economy. Neil we have a lot of debt under barack obama. We actually had to do a lot of cleaning up with the economy. This president. Neil the president s debt has to be addressed to has not been addressed let me give you your take, kathy mentions a couple things that we are little bit speechless like when the president was talking about tariffs are good thing in the chinese are paying, we know that is not the case. But american distributor, retailers have to suck it up, its up to them whether they can pass along and hes right to say the chinese absorb this by devaluing the currency but the fact of the matter it has had an impact on the consumer, not as much as it couldve been but that would 9 surgeon ways is in the last three years. That i can imagine has been averaging about 3 per year but in real term you take out inflation which is moderated lately, were really talking about a third of that. Its not as gangbusters as presented proofread by a large youre convinced the data does favor right . Certainly it does. You look at every indicator whether gdp, wages going up, the stock market that is breaking alltime highs. It was a bragging session today and he deserved a bragging session. It doesnt matter what indicator youre looking at, he is succeeding and winning across the board. And the reason why you see bloomberg coming is because the democrats realize they cannot beat him with this incredible economy and with the three socialists that are running right now at the top of the ticket. They are desperately looking for anybody to get into the race and ive been arguing for months that the nominee of the Democrat Party is yet to announce their candidacy. Neil the president was talking about the resistance to technology and obviously what has been going on the oi oil frt and the largest oil independent producer now and the democrats will destroy them. He also mentioned that some of the ideas that they come up with to sideline that are themselves going to lead to real problems. Do you agree with that . Absolutely. The u. S. Energy storing has been the biggest boom for the average american weve ever seen. Look at gasoline prices hit historically low prices. Anything, i talked to consumers all the time about gasoline prices. That hits them right in the heart and soul. To be honest everybody is worried about the environment, but at the end of the day theyre worried about whether they can drive to work and back for reasonable price. You have to put that into perspective. The Global Economy runs on oil. Im sorry, if we make a dramatic turn back from that and it can be easily replaced will not happen. Not without a lot of pain to every american. If every american says hey, im willing to go for recession, lose millions of jobs to get off of energy in the next ten years, then vote for that. They have the opportunity, most americans are saying, lets try to balance the economy in the sky is falling about Global Warming with well growth for the americans. Are the views not necessarily automatic but we want to be generous in all three market averages are in record territory. That is a fact. I go way beyond the headlines does your broker offer more than just free trades . Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. 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All right after the president s remarks, all the market averages are in record territory, that is the backdrop he says for an economy market going his way, to a man who has had a chance of being with every american president dating back to dwight eisenhower, did not have an opportunity with john kennedy even though he was in san antonio the day before the president s death, talking about the executive vice chairman and leave it on the table, frank. Good to have you. Let me ask you, one of the things that you touch on early throughout your career is the idea that obviously president s came and went in the career, how important with the backdrop in the economy and the stock market, this would like to talk about the market. Like to avoid them if they cou could, the economic focus, the market focus, how important was that over the years. Terrific important. In the major work, nothing more important. And maybe even that. I think whoever said that the economy is stupid knew what they were talking about in terms of politics. That will be a factor this time to say ive been watching you and i know what the situation currently is and there is no question that will be a big ingredient. You make passing reference to the president and more to his father, was that the design, you dont necessarily probe about any president. No, i knew him fairly early in her career we did a number of pro bono things together and one of the things ive adopted particularly when im talking about the book is there is so many of you who are expert in talking about the pros and the cons, i stay out of that. Neil obviously rubbed elbows with a lot of famous players. Im very worried today about president carter, hes among my most favorite. Neil very early when he is running and 76 and it looks like a fairly recent. It was wonderful, the fact that we took the reprice and pictures now with the picture that we took in 1976. What thrilled me about it is he was as happy to get the signing as i was. Which makes you feel good. He is a great down to earth guy. We know he is out of surgery and expected to do well. My thoughts are with him. I hope for the best. Neil one of the things i did not realize coming back to your career, youre a very effective people person, and you savor an open door policy that bigwigs like yourself should not have that door closed, why do you feel so strongly about that. If we extend meetings, conference goals, employee gettogethers, that was import to you, why. Because we are in the end the aggregate result of what our employees and colleagues do. And the first thing i learned fairly early on, if you show respect for people, they will respect you and they will work with you. And if you do not show respect for them, your chances are not good. So its pragmatic but id like to think that it is part of the character that my family instilled in me early on and it makes a difference how you treat people and how you care about them and i generally care about them. I know who their kids are. Neil you did not grow poor, how much of that experience taught you. I did grow pretty poor. Very poor. Neil did the experience, roughandtumble world you are in, a catholic kid, tough times. Just when they could afford it. I think it teaches you values. Because you learn right away when things are not good when they are good. And my dad was a big part of the book and in fact he is as much responsible for the title of lease something on the table as anyone because he always believed that you share. And that was unusual because im an only child and there was no necessity to share with the sibling. But he made sure whatever we had and i had was not much we shared. Neil you also had a certain ft to communicate, yet a good sense of humor and i was interested early on when your family went to all these big events, that you are your own little Johnny Carson and that couldve been a different career route right . If i had not had a girl in high school that i wanted to wait to marry i probably wouldve gone to l. A. Or new york and set my career in broadcasting. But happily it worked out wonderfully. Neil you saw the value that did not have to be the word, but informing that always involved. I we say that carries over to news today, it will be on a device. But the word itself isnt going the way. Absolutely. Communicating is so important in business. I always give the experience that i had an early radio and television and a lot of credit for whatever i had been able to achieve because communicating with people is important. Neil who was the most surprising person at your career, you have been with them all and every leader in every big media player, i could go on and on, who impressed you the most . Id have to say there is a long list, id have to say that henry kinzinger, i had the privilege which i never expected through our joint interest for media of traveling to the worlds capital with henry. He got the longest arm in captivity, wherever you go, the heads of state went to see him and a great sense of humor. In an unbelievable sense of history and no subject that you can raise with him, that he cannot context in terms of the history. I have been easily impressed by a lot of them obviously. And i thought eisenhower was as big as life character even though as some parts of his career he was not seen through the best and glasses. You realize that about popularity, it comes and it goes and it comes with whatever going on that day unfortunately in life. In any event henry i relayed him and a few others are known to be in the modern version of franklin or hamilton and people who are president of the United States and hugely influenced life of the United States. Neil i mentioned one of the president s you did not get a chance to meet, but years later you did join jackie at an event in which people were talking about and was just getting to be the buzz, her husband philandering and office and she was stoic. Not so much to work but classy. And when i was prompted that sorensen had written all the famous words she grabbed the arm and said dont you say that about my husband, he wrote the speeches. And i came away from that thinking what class. Neil to the very end. The book is leave something on the table, a reminder of what happens in life, we all go through the swings but the dignity and humor, it does help with the humor. It does indeed. Thank you very, very much. My dad used to say, he might as well laugh at yourself because everyone elses. [laughter] the enchanted disney fine jewelry collection. With exclusive bridal styles at zales, the diamond store. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Neil we are getting just bluebe governor of massachusetts is considered iran. This is not over. And as we just learned from our last guest, there are others who are probably considering the race whose names we dont know either. To making charles payne, im reminded by the comments, it might not be your cup of tea, i might not be your guide but anyone of the others, i gotta be happy. It was an interesting way to frame it. Often thats when politics comes down to. Certainly President Trump comparing himself to warren and sanders especially as it resonates in that room which makes it interesting because political had Something Interesting to say, they took to donors many times with wall street, patrick is the perfect candidate, dynamic africanamerican governor who got elected in the heavily white state in great ties to the Business Community thanks to his time at capital under very a president obama. Some are saying maybe this could be the dream candidate that they been looking for. Neil to tell you about the field as it is that theyre frantically looking for alternatives. I can remember that and its interesting, when carter was emerging as what seemed like a force of nature that was galvanizing and not his way to the democratic nomination, all the party lumen luminaries were putting out other candidates, anyone to stop this guy. It was a reflection that he cannot get election. Now i looking at this character in the party seeking other characters and it is amazing prethis will be a very crowded field all over again. Is so similar and the point is electability, it is interesting, just opposed to what President Trump said, some people are running or considering running just because they think they match up better with President Trump. I think to what were hearing from boaters and polls there is still a move to the right and left around the worldf a warren and sanders, there are over 40 right there and maybe even more with vigorous campaigning. So departing elders and leaders of the Democratic Party, maybe the democratic voters jumped down. Neil right now thats where the passion of the Party Changes when they have to look at the map that is amazing. Very good my friend. I look forward to your show and lesson tendons. They are launching the buying binge is about to be put to the test. We shall see. I am royalty of racing, i am alfa romeo. Whether youre or here on a wifi hotspot. Xfinity mobile has more coverage to keep you connected to what matters most. Thats because its the only Wireless Network that automatically connects you to millions of secure wifi hotspots and the best lte everywhere else. Switch now and see how you could save up to 400 a year. And get 50 off when you buy any new lg phone. Xfinity mobile. Click, call or visit a store today. China is pain because the devaluing the currency to such an extent important tremendous amounts of cash into their system and they are dying to make a deal. We are the ones that are deciding whether or not we want to make a deal. Neil what did you think . I thought it was a good speech to be honest with you. I saw most of it but not all of it. Neil weir it didnt rattle the market, just as a reminder. Peter navarro is saying its going to be down 30000, memo to peter the reason why is not 30000 is because you and your trade policies. And its not calling china out, it is a titfortat that does have an impact on the economy and has slowed down the economy no doubt. They deserve some blame but a lot of this is trade. Neil the bottom line every economist in the world is saying that except for maybe peter navarro. Neil the notion that he says that pops up among these people and you might not like me personally, but im better than all the alternative. Theres a reason why my bloomberg is trying to get into the race. In all these moderates are trying to get into the race, they see the party rejecting capitalism. They despise in his mannerisms and the social policies. But they know his economy is working, Elizabeth Warren, any democratic candidate runs on destroy the capitalist system or remake it, will have to face the fact that we have 2. 5 to 3. 5 Economic Growth and for all trumps bigmouth and anything else he has done okay in very well in the economy. And that type of message cannot beat trump rate the might enter message that might be able to this guy is erratic and crazy and this is not america what he stands for. Neil how about the market, how did that jive . I think its dangerous to focus on the markets. We have a really good economy and the markets could trade off for other reasons. See just have to be careful without. Heres one other thing, the market has cut flat for the last 18 months in the trachea. So just remember we couldve been down 30000. Neil he senior hell o despite e is the under formed . Okay, trade, its not the economy, i think its a problem, he has done a very good job on the economy. Neil they say he should be up ten points in the polls, all this other stuff but again it depends on who is put up against. Mike bloomberg is running for one reason one reason only, he knows that socialism cannot be the Democratic Party. Neil didnt bloomberg pulled the lever. I dont think so, i dont think he has. If you pull that hes in there as a spoiler to elect joe biden and run ads to take a shot at the progressives. Neil thank you my friend. In the meantime we have gotten into record territory in the Nasdaq Record territory. Nothing that the president said today that controversies and all, it might be good with donald trump. When youre looking for answers, its good to have help. Because the right information, at the right time, may make all the difference. At humana, we know thats especially true when youre looking for a medicare. A knowledgeable licensed agentproducer can answer any questions you have, and help you choose the plan thats right for you. The call is free, and theres no obligation. You see, medicare covers only about 80 percent of your part b medical expenses. The rest is up to you. Thats why so many people purchase Medicare Supplement insurance plans, like those offered by humana. Theyre designed to help you save money and pay some of the costs medicare doesnt. 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The call is free and theres no obligation. You know medicare wont cover all your medical costs, so call now and see why a Medicare Supplement plan from a company like humana, just might be the answer. Neil we have big story today, disney, starting the streaming service today, for 6. 99 a month about what it is for get flicks. Not quite as cheap as apple tv with the 4. 99 offering. The big question will people gather to hear that watch that, disney pixar, marvel, star wars. National geographic, they have a lot under their umbrella with more to come. If youre into streaming your ship has come in. There are quite a few ships. Charles payne. Charles too many ships, neil. Neil youre not kidding. Charles weve been complain about 500 channels. I have 500 apps before i get to the channels. Good afternoon, everyone, im charles payne. This is making money. Breaking now the market is higher. All three major indices are on pace to close at record territory again. The s p 500 on track for the 100th record close under President Trump. The president just now wrapping up his speech at the Economic Club of new york where he is outlining some of his major goals on trade and the economy. This after a speech three years ago as a candidate actually shocked and upset the establishment. Plus the streaming wars we were talking about are full battle now as