Transcripts For FBC Cavuto Coast To Coast 20170220

Good for the economy. Lets pick it apart, kelly jane torrence, diane furthgotroth, former reagan and atima from the young democrats. What do you make of the stats that scream to show americans are increasingly confident in the economy and feeling that things will get better still . It doesnt quite cut equally among democrats and republicans, but there has been a surge for both. What do you make of that . Yes, i think its definitely in the economy, has been shifting in the right direction. That is, obviously, to credit of some of obamas work in the last eight years, taking Unemployment Rate from 10. 9 to a little under 4. 9 currently. If youre definitely an investor, if youre definitely, you have a large, large business, youre definitely looking forward to a Trump Presidency and easings up of economic regulations. The big question will be and this is what diffentiates democrats from republicans, is whether some of those tax cuts will be also for Small Business and middle class people to get the economy continuing growing. Neil but sounds like you have your doubts whether anything has to do with donald trump . Well it is, it is early. So, he did have a executive order of i think it was do some of the deregulation on the doddfrank act which is, bipartisan. Neil well talk about tax cuts and regulatory relief, none of that is many coulding into play here . I think some of it is but it is still early. Like most of that has to be congressional actions. I this theyre still working on. Neil right. Youre coming closer to actually liking the president i think. I think that is [laughter] wouldnt go that far. Neil kelly jane, what do you make of this . A smart run up here. Slowed a little bit since the inauguration, but again this is one of the best opening months that weve seen in the markets in quite some time an growing optimism this administration is going to deliver. Is that putting too much pressure on the guy right now because the markets have not factored in anything less than perfection here . I think we could use a little bit of pressure on them. Youre right, neil, the s p 500 is up 10 since the election. Consumer confidence is the highest it has been in a decade. This is the idea that he is going to deregulate and tax reform i think he could use a little pressure to talk about the stuff more. He had the Big Press Conference last week, seems like he is still locked in the past, talking about his electoral victories and different demographic groups and instead of moving forward saying this is what im doing as president , this is what is going to happen and how it will help the economy. He really seems stuck, he wants people to remember what a great accomplishment it was he won the presidency. Okay, that is over. Do some of what you promised in terms of helping the economy and bringing jobs back to america. Neil well, you can do both. You can still brag about the election and do other stuff. Well see what happens. Diana, im wondering, i will get it into more with my buddy Charlie Gasparino about the tax cut issues because republicans are a little divided how they will proceed. Talk there will be big tax cuts and a matter of weeks before the plan is laid out and they will get this together fast. If they dont have a way of paying for it, amongsome in the party it will be a problem. Do you think that will be a problem . Well the stock market has been rising because expectations of lower taxes especially the lower Corporate Tax rate which now is at 39 that paul ryan wants to bring down to 20 and donald trump wants to bring down to 15 . Expectations about the future are very important. Americans are already richer because of the runup in the stock market. This is called the wealth effect. Retail sales increased dramatically last month. And people feel good about it. And Everybody Knows that with the Corporate Tax rate being reduced, investment is going to come back into the country and businesses are going to be investing and creating more jobs. That is bonn up. Donald trump is right on to be promoting rolling back taxes and rolling back regular layings. That is what is making the stock market go up. Neil i know when you look at all of this stuff, part of the stuff that comes up this is the continuation of the obama rally and that underlying the rally started right after the election. The rally started right after the election. Neil im not here to play politics with it, but all i want to know, when those tax cuts come into being question i think is matter of when, not if. It might not be as generous as was headlined but theyre coming. That is really the last means by which you can goose this economy. And it has been a tepid recovery. There is also rolling back regulation. Neil i understand im going to atima on this one, and this notion that is all we have in our arsenal to boost this, tax cuts. Would you agree with that . Not not at all. Neil go ahead. I dont think it is actually the only thing that could boost it. I think there are other things that could be done. Certainly working on Small Business tax credits. You know neil they never do anything, do they . I dont know any Small Business person who say thanks god for that tax credit, right . I think more money in their pockets because theyre operating on a shorter budget. Neil a credit is dumb. Im not saying youre dumb, the credits, i think, just a cut in their rates avoids the sort of debate about this, rather than a credit that could come or go, right . Right. Well i think the big thing for them is making sure they have a lot of flexibility to do their work and so i think that is why also making sure that this trickles down to folks who actually have smaller businesses and a dime doesnt go as far as as it would if youre running a Big Corporation is definitely the key. From a democratic perspective, working on maintaining wages and raising wages, certainly minimum wage is one of the things we advocate for. I think trump has gone a little bit back and forth on that. I think it is not just about tax cuts. There are other ways to bring the economy resurging. Neil kelly jane, what would might dissipate a little bit but not see compromised at all . We could argue about the final rate. Maybe wont be dramatic as some would hope, if there is doordie tax cut event or you want to hear republicans or reason that matter extended markets, what it would be . Theyre debating how we do Corporate Tax reform. Do we want the border adjustment tax or not. Neil that is out. I dont think that is going anywhere. You have to cut the rate. When canada has much lower Corporate Tax rate than the United States, you know you have a problem. Credits, border adjustment or not, the neil in other words if that doesnt come to fruition and looks unlikely it will, you could live with that . I could. You know, something that i think, he is having trouble communicating that to people too. Reporters cant even get it straight. I think trying to sell that to the American People when neil reports having a problem with math. People arent helping in that regard. Neil what do you think of that . If this thing doesnt come to pass, border tax, presumably one of the things we pay for these cuts, republicans are in trouble, do you buy that . Also, not at all. Border adjustability is not that complicated. You dont get deduction for import and dont get taxed on your export. This would be beneficial for Economic Growth because companies would have incentive to purchase things made in america rather than having some buy america regulations. Neil you better sell that to walmart and all these others worrying about that. But well see. If were talking about the goosing the economy, rolling back regulations is costss and it will do a tremendous amount. Small business said unpredictable regulations are more costly to them than the taxes that they pay which are predictable. Neil ladies, thank you all. Were focused on these developments. This is a week were told we might get some of the broad parameters of the tax debate will be resolved. Charlie gasparino is watching it closely. The fight is not between republicans and democrats but republicans versus republicans, right . The border tax issue has a big fight, tom cotton lays out a pretty compelling case it is a stupid idea. Neil i dont think the votes are there. Theyre not. Paul ryan likes it for some reason, we should get him on to figure out why. Economically if you build stuff in the United States, you bring in a lot of stuff overseas, that is how you manufacture stuff in the u. S. And essentially taxing the manufacturer here in the u. S. By doing that border adjustment tax because you cant bring in products neil they like it would raise so much money more than enough to pay for the tax cut. They like it because they allow donald trump to have his cake and eat it to. He can do all the tax stuff, corporate, individual taxes plus he can do infrastructure spending. Neil what if they dont get that . You have to scale back either taxes or infrastructure or scale them both back where theyre not as, neither is powerful. I think if i had my druthers, wait on infrastructure stuff. Do Something Interesting with that, when you repatriate corporate money goes into a fund to leverage for infrastructure. Get the tax cut going because your economy neil what if you scale them back, theyre not as generous. Which ones . Tax cuts . Neil any one of them. Taxutand market it is not worth this. This is 20 Corporate Tax rate market i believe. I could be wrong but neil top rate down to 33 . That is what it looks like. So you dont have earnings. Neil you scale that back a little bit suppose you only do a 30 Corporate Tax cut, goes down to 35 to 30, then, you got to ask yourself dow 21,000 justify that type of fiscal stimulus . I dont think it does. Neil you talk to guys that crunch the numbers, when you get big tax cuts, all of sudden market looks rich suddenly looks cheap, right . Right. Neil if the tax cuts arent as generous then it looks pricier. I will say this the guys im talking to say well get a fairly significant Corporate Tax cut, individual tax cuts. I tell people to watch, that is what theyre saying three scenarios out there and this is why the markets up. First scenario is that trump gets what he wants, big Corporate Tax cuts. Janet yellen lowers raises rates in concert with him getting that legislation where you dont get meaningful inflation but you get your fiscal policy bump. Neil perfect combination. The second scenario is not so good but good for the markets. Trump gets bogged down in all this stuff. Doesnt get the tax cuts through and theyre not that or theyre not that dramatic. Guess what janet yellen, then starts raising rates. Or doesnt raise rates on that. Rates stay the same and he gets almost nothing. Neil right. That is pretty good for the markets. Bad for the economy. Third thing is bad for economy, bad for both and he doesnt get anything and she somehow starts raising rates because she might believe he might get it. Fiscal an Monetary Policy out of sync, deadly for the economy and markets. Neil that is what investor is or worried. How do they get along. No one knows. It is understood thing. Hopefully she is watching the legislative and she is not quick on the trigger because if she is quick on the trigger or he doesnt get this stuff or a lot less of it, we could be in a lot of trouble markets and economy. You are literally raising rates while youre not getting fiscal policy. I would say average investor i like buying stocks when you cut taxes. The devil is in the details. Donald trump is mixing not just supply side stimulus, he is mixing keynesian work projects. You cant have both and not expect to blow out the deficit and we do have deficit hawks sit on all the committees, particularly paul ryan why he likes the border adjustment tax. He believes that pays for infrastructure plus tax cuts. Just something you have to watch. I would watch, good thing were working today, right . No one would know this stuff. Neil no, no. Good thing youre on. If it wasnt for your show, no one would know this stuff. Neil Charlie Gasparino, thank you my friend. Best in the business. Meantime, the president is going to pull a mulligan today. He will redo that immigration order and apparently tightened up a lot of lose ends there but already were getting indications from some democrats no matter what he proposes they are going to appeal. So what happens here . What does the new measure mean . After this. Your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. On mattress firmness . Fortunately theres a bed where you both get what you want every night. Enter sleep number and the ultimate sleep number event, going on now. Sleepiq technology tells you how well you slept and what adjustments you can make. She likes the bed soft. Hes more hardcore. So your sleep goes from good to great to wow only at a sleep number store. For 5 days only, save 50 on the ultimate limited edition bed, plus 24month financing. Go to sleepnumber. Com for a store near you. Neil welcome back, everybody. A new immigration order is expected any day now. In fact it could happen today. Former bush 41 attorney general bill barr. Always good to have you. Were getting hints here that it will still involve the same seven targeted countries, iran, iraq syria, somalia, yemen, sudan and libya. Were also told it will tighten up those provisions heretofore made it very difficult for those with green cards to access into the country. In other words, more tightening than a complete repudiation of what they attempted before. What do you make of that . I think the president is preserving the core substance what he was trying to accomplish in the first order. There are really two groups of people. There are the people, aliens who already have legal status in the United States. That is theyre permanent resident aliens or visas, attending college so forth. The other group and the key group, are those persons overseas in yemen, libya, whoever, dont have a connection with the United States and dont have legal status. They may want to come here but that is their only relationship to the United States. He, i think what he will do is clarify the order so that these temporary pause in entry will apply to that latter class, and he is not going to interfere with the lives of the people who have permanent resident alien status or are here already on visas or on their way, relying on visas. Neil how do you think that would go . Obviously people would look at this to appeal, but, it would seem with that tightening alone, less reason to, or am i missing something. No, i mean the only way the ninth circuit got their claws into the first order, i actually think the first order was lawful but the way the ninth circuit got into it was assume it applied to people with legal status and permanent resident aliens and they rejected the administrations efforts to clarify it and walk back. No, well assume it does cover. That was the legal basis for their decision. Once thats taken away i think it would be very, very hard for a court to enjoin this or for any challenge to be sustained because the people overseas who have no connection to the United States dont have Constitutional Rights under our system, and they dont have a due process right that their desire to come in at a particular time has to go through a certain process. While the media likes calling this a ban, its a vetting order that lays groundwork for vetting people from seven countries and its a temporary pause to get our vetting process into place. This eminently reasonable given the danger that exists from these countries. Neil so i assume that what the ninth circuit overruled is a moot point then or is it . Does the Administration Still have any reason to pursue legal strategies on that . Or is that dead and gone . This is the new kind of executive order in town . Yeah i think the first order is going to be moot. Whether it is formally neil okay. Whether it is formally withdrawn or not it is really moot because the second order is going to govern Going Forward. Neil you know, bill, many have argued that the first order was rushed out the door and this might have taught the administration a lesson, even with executive orders be careful how you get them out there and think of all continuing contingencies. Do you think that is the case and from here on out should the administration continue with the executive orders, executive memoranda, however we distinguish between all of these, it will be able to stand up to scrutiny . Yeah. You know, i think at the beginning of any administration there are slipups like this. You dont have all your people in place. Neil right. People havent worked together. Neil didnt have the attorney general in place. Right, didnt have the attorney general. All administrations have slipups i would say this was not carefully scrubbed and rollout was poor and should ve had someone out there like general kelly or someone ee explaining what was going on. It is poor execution. But i guess the game will go up as they get more experience and more people in place. Neil bill barr, a pleasure having you. Thank you very much. Thanks. Neil meantime, forget about facing heat from democrats. The most vocal critic the president is facing from within his own party. Why john mccain is letting up even when he is on foreign soil and he wont give up after this. Neil ive been getting emails from folks who apparently want to he remind me the markets are not frozen in time. Theyre closed today. I want you to prove that. I didnt think so. The markets are closed today for president s day, like i knew that already. Meantime, rates still move, right . Were looking at latest lending tree rates for 15 year fixed mortgage. 30year at 3. 92 . When you step back from that, those rates are still very, very, low. All this other craziness in the markets notwithstanding here. Meanwhile senator john mccain continues to slam the president but this time it raised eyebrows because he was doing it on foreign soil. Take a look. If you want to preserve democracy as we know it, you have to have free and many times adversarial press and without it im afraid that we would lose so much of our individual liberties over time. That is how dictators get started, the first thing the dictators do is shut down the press. Im not saying that President Trump is trying to be a dictator. Im just saying we need to learn the lessons of history. Neil why did you even mention dictator in using the president s name . Thats the way we roll here. Brad blakeman, former bush 43 deputy assistant. Obviously senator like anyone else is entitled to his opinion but you breach something when you say that kind of stuff on foreign soil, dont you . Yeah, you do. I have Great Respect for john mccain but as United States senator im not comfortable with any official of this government airing dirty laundry if you will overseas. I would rather see john mccain meet with the president. We need john mccain. He has great wisdom. He is a statesman, a war hero. He could do a Great Service to this president by coming inside of the tent if you will, especially helping him in the senate. So, my hope is that john mccain will seek a meeting with the president and air grievances and bury the hatchet neil do you know behind the scenes what is going on . It is very clear the two of them, certainly many argue it might have started with comment then candidate trump made about john mccain not being a legitimate war hero. Maybe it just grew and festered from there. But, have you known either to try to make an offer to break bread or to meet with each other or anything . N but i think that is where perhaps an intermediary can step in. Maybe a fellow senator or cabinet official but these guys have to come together. Neil it wont be Lindsey Graham. Lindsey graham appears to dislike the president more than john mccain. Yeah. Neil whatever the bygones in the past how do you get them to be bygones period . He made amends, the president with the likes of rand paul. The his wife and melania had dinwer marco rubio and his wife. That is a step in the right direction. What do you expect to see . My advice would be, that the president should pick up the phone and invite him down to the white house for lunch or dinner, or a meeting, make it substantive. I think he will be able to get john mccains support because the problems of our Country Demand that we rise to the occasion. If anybody knows that it is senator mccain. He has been through hell and back, and he is a patriot. And i believe that he is going to put whatever political differences, and the president too, behind them for the best interests of our country. Neil barring any dramatic development, that does not appear to be likely in the independent immediate future, for whatever reason. Now there are always those within the party who are critical of those within their own party, and will that just be the case here . And the president is just going to have to deal with it . I think thats fine but as long as it is on a casebycase basis. Maybe legislation that he is not being able to offer support to but just a blanket, i cant work with this president is not healthy. It is not healthy to our country and to the senate. We need every vote in the senate. There are big issues coming up, immigration, taxes, military spending, deficit, and were going to need john mccain in the president s court. Neil all right. Well he see what happens here. Brad blakeman, former bush 43 deputy assistant. He is seen warring parties, intra, and others. Thank you. Neil donald trump on the warpath when it comes to the media and the media on the warpath when it comes to the president but whose skin is really thinner . You might be surprised. Why do some cash back cards make earning bonus cash back so complicated . They limit where you can earn bonus cash back to a few places. And those places keep changing every few months. The quicksilver card from capital one doesnt do any of that. With quicksilver you earn unlimited 1. 5 cash back on every purchase, everywhere. Leave complicated behind. Whats in your wallet . Companies across the state are york sgrowing the economy,otion. With the help of the lowest taxes in decades, a talented workforce, and worldclass innovations. Like in plattsburgh, where the most advanced transportation is already en route. And in corning, where the future is materializing. Let us help grow your companys tomorrow today at esd. Ny. Gov withevery late night. G. And moment away. With every click. Call. Punch. And paycheck. Youve earned your medicare. It was a deal that was made long ago, and aarp believes it should be honored. Thankfully, President Trump does too. I am going to protect and save your Social Security and your medicare. You made a deal a long time ago. Now, its congress turn. Tell them to protect medicare. Neil we actually looked into this. Other president s lectured the media, including the last president , barack obama. Of course donald trump taking it into a new art form. Media is not artful in its response. Are things out of control there is no reckoning the two . Should any of the two be reckoning at all . To the Media Research center. Rich, i look at what is going on here, and donald trump may be the little bit of aggressive in calling them all sorts of names. They have responded, as would typically be the case, saying that they dont deserve it. Is this now irretrievable . Is this relationship lost and then, longer term, what does that mean for this presidency . Well, i think you have to go back to the beginning of the trump campaign. The media have been hostile to donald trump not sips his press conference on thursday but since july of 2015. They thought he was unworthy to be running for president lit alone serve as president. That has shaded all of this. He has been the recipient of more hostile coverage than any president ial candidate. Now in his first month in office he is not being covered as president , but being covered like a natural disaster. Incredible amounts coverage, none of it possible. You can understand why he is lashing out. It is not productive for either to treat the other the way they are. This is twoway street, not a oneway attack. Neil barack obama used to lecture the media on being always caught up in conflicts or scandals or nastiness. Even president s who have enjoyed otherwise good relations with the press, john f. Kennedy would come to mind, saying coverage is not as good as he would like, so that isnt new. The tone of this one is, but does the president serve himself and his Administration Goals any good by, by saying that all of this is a press that gets it wrong, when in fact he gets a lot of stuff wrong . Well, i think he has to figure out what his Communications Strategy is. If the strategy is to help build public support for things like the obamacare repeel or tax reform, he has got to organize messages that build that case for him. If he wants to shore up his base by attacking the media, that seems to be what he is doing right now. Neil that will work. He will keep his base, very, very loyal. Keep a majority of republicans thinking he is doing a fine job. He has enough momentum to get key pieces legislation through the house and senate under republican control but there is not much wiggle room, right. Not in the senate in particular. That seems to where you need to build up the public case to make wobbly senators go the right direction. I mean there will be a lot of republicans out there who think the media deserve the all the punches trump is throwing at them. Trump probably feels that himself. He has to get somebody to be the bad cop in the administration so he graduates to the job of good copy think. Neil do you think that is impossible to do . When he comes and says something or refuses to take blame for something, that media will say, that he, he cant make the case that it is all the medias fault . You focus on the fact that almost everything you hear from the media is a lie or distortion, i will not be cut any slack . He is right about the disproportionate negative coverage he gets makes no mention of positive achievements he has had or even the market runup so he has a legitimate beef there but how far does he go to push it . I think he can go some ways attacking media. His base will not be upset by that. If it gets in the way of achieving things he is supposed to achieve, he will have weaker case to present in the next election. He has to figure out whatever his political strategy is including communication should be organized around achieving goals not just attacking the press even though they may deserve it. Neil i dont know if this means anything, when i talk to a lot of folks, some not keen donald trump who is president , but who were riveted at that press conference, fascinated by it, entertainment value, so unusual, i never seen anything like this, how do you think he is faring . Polls show, 4, 48 approval rating, others have it 55 , how do you think he is hitting with the general american public. The people against the election are probably even more against him because of all these events and these controversies. The people that were with him think he is under fire and being attacked and not given a chance to do the job he was elected to do. You know, at some point, i cant imagine this going on permanently. This will not be a, this course of event for the next four years i dont imagine, but at some point it needs to sort of change the dynamic to be about legislation getting done. Maybe next week, when he speaks to congress, it will be sort of a fresh restart for this administration. Neil it could be. It could happen next. Rich noyes, Research Director out of reston, virginia. Were getting word, could be today, later this week, regardless, soon, a revised immigration order. Heres the thing, no matter what you thought of the last one, more than 100 somalis refugees made it into this country because of the least dustup. Is that a good or a bad thing . The read after this. As after a dvt blood clot,ital i sure had a lot to think about. What about the people i care about . Including this little girl. And what if this happened again . I was given warfarin in the hospital, but wondered, was this the best treatment for me . So i asked my doctor. And he recommended eliquis. Eliquis treats dvt and pe blood clots and reduces the risk of them happening again. Yes, eliquis treats dvt and pe blood clots. Eliquis also had significantly less major bleeding than the standard treatment. Both made me turn around my thinking. Dont stop eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Eliquis treats dvt and pe blood clots. Plus had less major bleeding. Both made eliquis plus had less major bleeding. Ask your doctor if switching to eliquis is right for you. Gave us the power to turn this enemy into an ally . Microsoft and its partners are using smart traps to capture mosquitoes and sequence their dna to fight disease. There are over 100 million pieces of dna in every sample. With the microsoft cloud, we can analyze the data faster than ever before. If we can detect new viruses before they spread, we may someday prevent outbreaks before they begin. Neil all right. The president is going to give it another shot, another executive order on dealing with this immigration issue and better vetting those who come into this country. The problem is at least 140 somalia, one of the seven countries urged for closer vetting already made it into this country, something that worries former secret Service Agent dan bongino. We dont know their intentions. We know where theyre from. That does raise eyebrows, the argument was they would not have gotten in had not been for the legal appeal of the president s executive order, so theyre here. We dont know how many are dangerous. We do know when you have 140 from a country deemed dangerous, it does give you pause. Do you have pause . Yeah, and you should give pause to this, neil. Lets just make two points to reasonable people should be an obvious red flag. Number one, the terrorists community themselves, multiple groups, have already claimed that theyre looking to infiltrate the refugee population to secrete people into countries that they want to attack. I mean what do we think theyre lying about this . Theyre making this up . I mean theyre saying that for a reason. Point number two, to give reasonable people pause here. There is Cottage Industry developed around fake, fraudulent syrian passports, neil. There is no guarranty if youre name checking john smith from syria, that john smith is even the john smith you think youre socalled vetting. Those are two big, enormous red flags there. Neil apparently one of them will continue to flying as red flags, not only are the same seven countries are going to be the source of this new order, but it does nothing to single out syrian refugees, which was said to be a prejudicial move on the part of the president to single out refugees from one country. So that wont exist anymore. What does that tell you . Well, thats nonsensical. I mean the syrian government, seven countries mentioned were mentioned specifically for a reason. I know it became by some in the media fake Muslim Bannon sense, but what it really. You cant walk into the syrian dmv to ask for a check. When you go to check criminals, ncic, these are United States government databases. Neil, even some of those databases had problems with the richest country in the world. Will you check with the syrian Library System for the guys library card . This is crazy. Neil that might be difficult. While i still got you here and maybe you can educate me on this, dan. Apparently education secretary betsy devos has been given extra protection than other individuals. The controversy of her appointment and opposition she has run into, but they shame, shame, shame this is really disturbing story, i dont speak with forked tongue at all. Radio shows i host, people call in claim to be conservative, hey, listen, im really getting upset and angry, almost implying violence. I hang up on them immediately. There is no, zero, less than zero excuse for this. This type of behavior, blocking people from entering schools. Any kind of inappropriate physical contact, screaming in peoples faces is completely unnecessary. The irony, neil, really alienates the moderate americans you need to get over to your side as and he effective political strategy. I happen to agree politically with betsy devoss position on school choice, but because you dont doesnt give you right to physician kay assault her, block her access to a school or scream and spit in their faces. That is totally inappropriate behavior to get in that zone. Neil these republican congressman who hold the town Hall Meetings have become a target for a lot of these leftwing groups, sometimes, threatening the security of the representatives hosting them. My question is as a former secret Service Agent, how far you go allowing these events to continue knowing that youve got a cauldron of, bubbling emotions there . Yeah. Neil a talk a lot of rightwing groups will protest the leftwing groups protesting these venues. It could get easily out of hand . Its a great question. Im glad we candlerfy this. This is the official posture of the secret service and and other federal entities that do this kind of thing. Secret service does not get involved in tone of voice. You can yell and scream what you watch. What you scream is matters. You can scream i hate school choice, even in a low tone im coming up on the stage to punch you in the face. Secret service will not get involved in yelling and screaming matches. That is not what they do. They will get involved when speech implies a threat or you see some physical action, someone moving towards the stage, throwing something. Screaming and yelling they will not get involved in. That is not what they do. I hate to say it. I dont like to see it either, screaming and yelling. Congressman get paid to listen to that stuff even when people are yelling at them. Neil but unfortunately the next step is that step, right . Neil, its a delicate balance. Neil i hear. You remember we err on the side of free speech. Once you start getting involved that is a slippery slope you start shutting it down even if theyre yelling really loud. Neil thank you, very much, dan bongino, former secret Service Agent out of florida. Something historic happened this past weekend involving launchpad 39a. Does that ring a bell . It should. 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Liberty stands with you™ Liberty Mutual insurance neil all right. If you saw this same launchpad. Same historic significance when you think about it. A spacex rocket from the very same pad that sent men on the moon, apollo 11, so many historical flights, featured in the gene cernan documentary, last man on the moon. Portrayed in tumbleweeds, unused, turning to rust. A metaphor what happened to our once great space program. That it appears open for business and promise as another spacex launch the next few weeks, maybe this thing is back. Maybe space travel is back. We can only hope so. We have a a see marketing ceo. What do you make this is clawing our way back to hitching our own rides into space . Oh, were definitely on that ride. I think space travel is going to see a lot of info he vision and advances in the next five to 10 years especially under the current administration. Neil i havent seen their commitment to space. Obviously many who work at nasa, and work for, and are enthusiastic about space travel say, it wouldnt take much to get a pickup in activity to excite these folks. These are multiyear decade projects going on. This was unmanned spacex capsule. Were told within a year they will send men and women up to hook up with the International Space station and other endeavors. How doable is that timetable . It is interesting to see. A lot of these projects like you said, especially with nasa, theyre oldfashioned, theyre traditional. They have decades worth of research or planning before they go after a lot of these things but this is where it will get very interesting because you have new players in the field like elon musk. Neil right. Tech billionaires who are fight between old guard and new tech enknow visions and with this administration what can we do tomorrow or year from now. Not necessarily what we can do 10 years from now. Neil gene cernan used to remind me, private industry efforts are not done in private industry. Not as if nasa standing on sidelines and not as if it is quasigovernment private interprides enterprise endeavour. How about that that this is the way we launch payloads and people into space again . I think privatization is very much the future of space travel. Nasa will end up serving a more supporting role than it has in the past maybe. It will be interesting to see how that plays out. Neil what about where the boosters can land safely back on earth as is the case here . That is a huge cost savings in and of itself, right . That might be a template for the future, right . Definitely. The battle is between the lockheed martins and boeings and facebooks and googles of the world. That is really where we see this play out. Neil one final thought that you have. When you look at all of this and see the commitment we have right now, is the next foreseeable target mars or some of talked about colonizing or making the moon sort of like a space station or waystation to these bigger efforts . Is that where were going . Yeah, look it will be moon and mars, right . It is interesting. Eastern another step kind of away from that towards the satellites and internet. We think that the internet is ubiquitous. It is really not. One of the things facebook is trying to do is have a connected world. There are subsaharan places in africa that dont have the internet right now. These things were talking about, it is not just about colonization of moon and mars, but bring the world, that is really exciting. Neil using this launchpad 30 ninea. They could have used any other and chose that for the historical significance. Now you know why. More after this. Retirement journey takeyou, we can help you reach your goals. Call us or your advisor rowe price. Invest with confidence. We ship everything you atcan imagine. N, and everything we ship has something in common. Whether its expedited overnight. Around the globe,. Its handled by od employees who know that delivering freight. Means delivering promises. Od. Helping the world keep promises. [phi anne. G] so those financial regulations being talked about . They could affect your accounts, so lets get together and talk, and make sure everythings clear. Yeah, that would be great. Being proactive. Its how edward jones makes sense of investing. Neil all right. The markets are closed, which could explain the fact that nothings been moving, but were keeping a very close eye on these developments and, apparently, some of you find virtually no humor in that comment [laughter] which is why im going to continue commenting that way. Futures are up, and if that were to continue new tomorrow when markets resume open after the president s day holiday, wed be back up in record territory yet again. So what is driving this and how long can we expect to see this . A lot depends on washington, of course. Lauren simonetti here to break it down. Reporter hey, neil. Wall street certainly watching washington these days. This is the 30day mark, one month since the inauguration. Guess what . Your 401 k , if youre following the s p 500, is up 3. 5 in just the past month. That is the fifth bestage gain weve seen percentage gain weve seen under think president ever. , the dr takes the fdr takes the cake, 1945, thats when the s p 500 was up 5. 5 , bill clinton, 4. 6 gain, and you can see that jfk and bush 41, similar performances to 30 days of donald trump. As for the dow can, i know its a more narrow index, but its more iconic, if you will. Its up 4 since the inauguration, that is the best first term for any president since 1909. Guess who was president then, neil . Neil what was the year . Reporter 1909. Would that be Teddy Roosevelt . Reporter william taft. Neil ooh. In other words, the 30 days . Reporter yes. One month since the inauguration. Since the election, obviously, the numbers are much stronger and higher, but in the one month since trumps officially in office, yeah, 3. 5 gain for the broader market. Neil amazing. Thank you very much. I found it odd that you thought i was alive and would have commented on that, but ill let that go. Reporter okay, thank you. [laughter] neil in the meantime, new signs that tax reform is still Going Forward, but it could be maybe less than a lot of markets have been hoping for. Blake burman at the white house with some of the fighting back and forth details. Sir. Reporter hi there, neil. Yeah, one of the Big Questions that is expected to be rolled out here by the white house in the upcoming weeks is whether or not the border adjustment tax might be a part of it. Depending on who you talk to on capitol hill here, among republicans you can get two different stories. For example, congressman kevin brady, he chairs the house ways and means committee, he is one of the republicans pushing this thing, and he said on Varney Company earlier today he feels confident its going to get this. Listen. I just have to tell you, i think at the end of the day in fact, let me predict for you, stewart, this will be part of the overall tax reform. Leveling the Playing Field here in the u. S. Is incredibly progrowth, and at the end of the day, its going to be part of the tax reform blueprint. Reporter however, Many Republican senators are much, much more skeptical. Ill give you three here, neil. For one, tom cotton said some ideas are so stupid, only an intellectual could believe them. David purdue also called it something that would, quote, shut down Economic Growth. And john cornyn said the hard reality is the border tax is on life support. Over the weekend senator Lindsey Graham was pretty pessimistic as well too. The congress is stumbling. Republicans in the congress, were all tied up in knots. The house is talking about a tax plan that wont get ten votes in the senate. Reporter you heard it there, neil. He thinks in this thing wont get ten votes in the senate, to pick up from Lindsey Graham. He also said, quoting here, i hope we will get our act together. And i remind you, those were all republicans that you heard from there. Neil . Neil that doesnt sound good. Blake burman, thank you very much. All right, so you have the markets at these record highs, expected to go if we went by the futures as a preview of coming attractions even hire, or are they baking in for perfection, and any disappointment on the size or how rapidly we see these tax cuts, what then . Lets get a read of things with gerri willis and jonathan hoenig. Emily, what do you think . Yeah, this border adjustment tax is a really serious splinter. Youre hearing things from orrin hatch, Lindsey Graham, tom cotton saying this is dead on arrival in the senate. I think we had a lot of hope and change rhetoric even from President Trump on the campaign trail about draining the swamp, about making big changes. Washington is not that easy to change, i think he may have been a little overly optimistic, and coming in were seeing some serious fissures over issues like this that are going to make reform difficult to pass even when talking about obamacare. Well see, i think republicans can get their act together, saying were going to do this for the good of the people, but its not going to happen as quickly as people probably thought. Neil jonathan, what would the effect be on markets that seemed to think this was inevitable and sooner rather than later . Keep this mind, the market has been at alltime highs for a long time, the whole summer back when donald trump was calling it a bubble over and over and over again. But putting politics aside just for a moarntle even if you think trump is a terrible president , neil, he could dramatically beneficial impact on the market, on the economy. A lot of people dont kno this, neil, you worked in the jimmy carter administration, you were a young intern at the time, but even a president like carter was able to deregulate trucking, airfare and beer. If trump could do Something Like that big, slash taxes, slash regulation, i think he would be heralded for generations to come besides this market here and now. Neil thank you for pointing that out, jonathan, a number of tv sets are being clicked off across the country. [laughter] gerri, to that point, we always set up these expectations, right . The markets, of course, have been running up very smartly since Donald Trumps election largely on the types of things they still expect to see. I still think its fair to say were going to get tax cuts. I dont think theyll be as soon as many in the market had hoped and are hoping. Then what . Well, you know, look, this is the dell that you do the devil that you do know, that congress is slow, that it takes a long time to get anything done. This comes as no vise to the markets, right . No surprise to the markets. And while this has been going on, weve set nine highs in the dow. What was the expectation . Remember this, think back to election day. What did people think was going to happen to the markets . They were predicting a big selloff, and why . Because of trumps protectionist policies. They were wrong, wrong, wrong, and if the fabricators, the people who look forward, they are often wrong. Its hard to predict where this market is going next. Neil i want to get into another variable, emily, that they end up being as generous as they were billed not even by kevin brady, the house ways and means chief, saying theyre going to be big and, comprehensive, but all of a sudden there may not be a way to pay for them. I dont want to get into that debate as much as the border tax thing goes away, thats not going to happen. That was going to be paul ryans mechanism to help pay for some of this. Lets say they go full throttle with these big tax cuts without that. Then what . Well, then i think youre going to see a lot of backlash like what were seeing right now with obamacare from democrats. I think that makes it a tricky neil but you dont need the democrats to get this amoved, you know what im saying . Yeah, and i think we had this full throttle, and i can tell you people on the Transition Team were saying its going to be in a hundred days flat, i promise its going to happen. I just dont see that happening. So i think what were looking at is going to be a really tricky path forward for republicans. The border adjustment tax, if you go full throttle, you just arent going to get the support in the senate. I dont see that. Neil in other words, what shes saying, jonathan, is whether you hike the border tax or not, it was a means by which a lot of this would be paid for and that could cause troubles even among those deficitconscious republicans. What do you think . Certainly. Neil, if you cut taxes but dont cut spending at all, of course, deficits continue to rise, and that should be just the opposite of what the republicans are haranguing for. Especially now, neil, you know, the stock markets up were already seeing clear signs of inflation creeping into this economy, so stop the spending now, and i think youll continue to see the market rise. I hope trump can get behind that theory as well. Neil i never see spending control though, you know . And maybe its just me, but every president even Ronald Reagan, a government left bigger than it was when he came in. He tried to slow its growth, but it still got bigger. So im wondering if it looks like that is unlikely that these deaf skits get deficits get worse before they get better, are markets going to chew on that and say, wait a minute, what have we been celebrating here . It could happen. You look at the debt approaching 20 trillion, forget about the deficit, just think about the debt that were all shouldering as taxpayers. Its massive, its huge, and at some point the markets going to have to come to terms with it, but it seems like investors are willing to ignore all bad news right now as they push the markets higher. So big question about if we do get tax reform, what then . How much higher could we go, the if any . Neil you know, emily, when you look at where were going right now, the markets, of course, have been buoyed as well by better than expected earnings on this notion that the market might be expensive now, but with tax cuts, an improving economy, it wont look so exing pensive. If expensive. If all of a sudden this thing is delayed and earnings cant quite measure up to the environment were in, then it is expensive, and then it does sell off, and then what . Yes, absolutely. And i think important to consider is the rest of President Trumps platform, especially when were talking about spending. Were talking about billions on a wall, talking about increasing military infrastructure, really increasing spending in a lot of areas. Hes not necessarily the paul ryan type of conservative, hes just not really cut from that cloth. And so i think Going Forward we might actually see what youre kind of predicting here possibly is increase in spending without having it paid for in these tax reform proposals. That might not even happen as quickly as were hoping either. Neil jonathan, would you buy these markets at these levels . I would, neil, i think the trend is your friend. Even on friday, 229 new 52week highs in the market, 45 new lows. So i think trend in stocks continues to be up. The real danger, ironically, could be in u. S. Government bonds. Shortterm Interest Rates now are at their highest level, neil, since the financial crisis. Im starting to see advertisements for certificates of deposit again, you havent seen that in almost a decade. Neil you know, youre right about that. I caught one over the weekend it could be higher rates, not lower stockings. Neil indeed. Well watch what happens very closely. In the meantime, were waiting for a new immigration order out of the white house, its going to happen, and it might put to bed this whole drama in the courts. Or will it . The hurdles that still remain, after this. I was out here smoking instead of being there for my sons winning shot. That was it for me. Thats why im quitting with nicorette. Only nicorette mini has a patented fast dissolving formula. It starts to relieve sudden cravings fast. Every great why needs a great how. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. On mattress firmness . Fortunately theres a bed where you both get what you want every night. Enter sleep number and the ultimate sleep number event, going on now. Sleepiq technology tells you how well you slept and what adjustments you can make. She likes the bed soft. Hes more hardcore. So your sleep goes from good to great to wow only at a sleep number store. For 5 days only, save 50 on the ultimate limited edition bed, plus 24month financing. Go to sleepnumber. Com for a store near you. Neil the Administration Still have any reason to pursue legal strategies on that, or is that thats dead and gone, this is the new kind of executive order in town . Yeah. I think the first order is going to be moot, and whether its formally neil okay. Whether its formally withdrawn or not, its really moot because the second order is going to govern. I think itd be very, very hard for a court to enjoin this or for any challenge to be sustained. Neil all right. A former attorney general talking about the administrations plan to do a mulligan on this immigration order, come up with one that sort of tightens any of those loose edges there to avoid any court from picking it apart, Circuit Court of appeals, what have you. The talk is that the president in this latest travel ban will be looking at not singling out syrian refugees, for example, protecting green card holders, but Still Holding to the same seven countries to be on the lookout for and to more closely scrutinize including iran, iraq, syria, somalia, sudan and yemen. When that does it and be avoids any legal fights back and forth, anyones guess. Judicial watch president tom fenton on what legal hurdles that plan could face. The idea is they want to avoid any legal hurdles from the broad blueprint that youve heard. Would this do that . I dont think so. The ninth Circuit Appeals Court said that the order, perhaps, could be rewritten. They were going to rewrite it, so President Trump took the invitation of the appellate court. But, you know, youve got all this leftist infrastructure here in the United States, and youve had the courts throw out theories suggesting that anyone in the world can challenge President Trump in court, and im only exaggerating slightly. So hell be more careful, it will be a weaker order in terms of protecting National Security. Its necessary but not sufficient. But you can expect theyll be challenging it based on the fact that it targets muslims or that someones cousin in sudan cant get here, and he was thinking about coming here, and he cant get here. So the courts are going to hear it again. I think therell be a tougher hurdle for them to upset it, but its going to be challenged, and i cant guarantee the outcome either way given the radical nature of the courts as antitrump as theyve been. Neil you know, it almost begs for getting courts involved, because they are going to look at this no matter what the president wants to do about vetting, as racist this tone or an antimuslim ban. And you cant win with this argument because even if you say that its not, you know, a muslim ban, by the same argument theyll flip it around and say,e muslim nations even though theyre saying that it shouldnt be a muslim ban. So the president cant win for even trying. Well, the problem the courts have ignored his concerns about National Security, and theyve given them short shrift, and thats the problem the courts have. And i think, ultimately, thats how trump will win this court battle assuming it goes all the way up to the Supreme Court in the end. The president has a right to protect our borders from threats from abroad. These nations are on the list because they dont have any governments that are reliable that we can rely on to provide Background Information on people coming here, unlike saudi arabia which does have a Central Government that has a reliable National Security or internal security service. However dastardly sometimes it is. These other countries are, the its the wild, wild west, and we cant be assured of anyone coming in. The dirty little secret here is that refugee policy specifically, we outsource the key investigations to the United Nations. We rely on the United Nations to give us the basic information, and then we try to run it down. And, obviously, thats a recipe for disaster. One other thing the president can do, neil, is really shut down the Refugee Program by putting the goals for refugee numbers to near zero or zero, practically speaking, and just end it from year to year. He doesnt have to bring in anyone he doesnt want to bring in in terms of numbers. He already knocked it back in half. He should knock it back to zero which will solve the problem, at least temporarily. Neil the other issue is that in this interim in all the legal fights, 140 Somali Refugees got into this country. Im not saying that all 140 were dangerous, but they would not have gotten in as easily or vetted as lightly had it not been for these appeals. So we learned that in this advantage vacuum, its kind of business as usual, and were sort of rolling the dice that everyone that gets in here is okay. Well, the terrorists arent stupid. Theyre going to see this as an opportunity to try to get into the system if they can because they know it could be shut down. So the courts gave the terrorists an opportunity to gain the system further. Weve had warnings, yet were supposed to ignore that. And in the meantime, its, katie, bar the door. Neil well put. Tom fitton, good catching up with you. Thank you. Neil rarely do you hear a new Administration Come in and want to make a government statistic thats been kind of the same for years, for decades worse. To actually present a worse view of the economy, in this case our trade deficit. Now, why would President Trump want to do that . Ill tell you after this. As a control enthusiast, im allbusiness when i travel. Even when i travel. For leisure. So i go national, where i can choose any available upgrade in the aisle without starting any conversations or paying any upcharges. What can i say . Control suits me. Go national. Go like a pro. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by unitedhealthcare Insurance Company come in. 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Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Neil all right, this one is confusing, but President Trump wants to recalculate the way we calculate our trade deficits to make them look even worse, the idea being that the worse he can make them look, the tougher we can be on new trade deals that would replace the ones he thinks were horrific to begin with. But Charles Payne is here to say be careful what you wish for, your argument being well, apparently, according to the u. S. Trade representative office, the under the new calculation our deficit with mexico instead of being 63 billion would be Something Like 115 billion. Its still a lot of money to the average person out there. But its a tough proposition. What were saying is when something comes into this country, a product or, you know, part of the assembly and we export it out, unchanged, the import counts, but the export should not count. Now, the neil so it makes the number even worse. It makes the number worse. Neil to what end though . Its bad enough as it is. Thats going to extract tougher trade deals to our benefit in the future . Well, it certainly makes the Public Relations angle even more, you know, nefarious in terms of how badly these deals were constructed in the first place. Industry will tell us our supply chain is so intricated that 40 of the items that we import from mexico started in america first. And essentially what i think i kind of feel Peter Navarros fingerprints on this a little bit. Especially with the Trump Administration, where theyre going is american manufacturings become assembly, not manufacturing. We dont cut the steel, we dont make it raw. We put it together like legos, and they would like to get us back to basics where were even making the components so we dont go back and forth i think it was the canadian trade munster who said a couple weeks ago the average u. S. Car made in canada goes back and forth seven times before the finished product is available. E can ki a to get more of the core components from the widgets on up made in this country, the more jobs well create, and by doing that, we have to make it unattractive even if its a Public Relations ploy to do the back and forth that we do now on supply chain. Neil it could backfire on you too because, obviously, exports are a key part of how we calculate our gdp. Right. Gdp is consumption, right . Youve got a government investment, gross investment by businesses and then its exports minus imports. So if we dont cut exports, could you imagine . Our gdp would plummet. So its a doubleedged sword neil feasibly be driven into a recession. On paper, absolutely. So its a dangerous gambit. I understand theyre floating ideas out there, and thats smart. You know, and it does raise awareness. But even at the u. S. Representatives office apparently theyre pushing back. They did the calculations, but theyre saying, please, lets not go with this new approach. Neil not just because it would make the number a lot worse, but all of a sudden youre turning everything on its head, right . Wellestablished supply chains that cannot be changed overnight. You know . And with the stroke of a pen, you want to make sure you dont make things worse even if youre trying to illuminate a problem as much as they are. Neil while youre here, the tax cut thing and the debate, much of this market momentum has been built on that coming to fruition. Sooner, hopefully, than later. Where do you stand on this . I feel after the last couple weeks the market understands perhaps obamacare comes first. Its complex though. A full repeal and replace, that kind of stuff. So i think a lot of people neil delay this though . A lot of people getting jittery. Also the gops got to figure out what tax plan theyve got to with, and maybe theyre going to have to science some of the silence some othe true fiscal conservatives and get them to why into the idea of supply side economics, greater velocity of money, a stronger economy will make up for lost revenue from lower taxes. Neil you seem to be acknowledging that whatever happens, the deficits get worse before they get better. They get worse before they get better, theres no doubt. Neil theres a lot of fiscal hawks who wont like that. They might like the idea of 4 gdp growth, maybe true, organic Economic Growth in this country reawakening the core, you know, thats been sort of missing, entrepreneurship, Small Business creation. Those kind of things are gone, and thats what we really have to wake up. The big businesses, they have their gimmicks, theyll bring some businesses, some jobs back, but i do caution the white house about, you know, not letting these guys have too many photo ops on, you know, sort of saying, hey, were playing the game when, in fact, maybe theyre not. Neil you know, you and i have covered tax cuts under Ronald Reagan and bill clinton, and, you know, they do create revenue, theres no denying they create revenue. But invariably, washington will pounce on that revenue, and under either party, spend it. Certainly so under Ronald Reagan when republicans spent that money and then some, and the deficits got worse. Right. Neil cant there be a mechanism that you dont do that, you either put it toward deficit relief or something . Otherwise this thing could get way out of control. Well, at some point, we need to figure that one out. I dont see where its going to come, because nothings going to happen with the Major Concerns that we spend money on right now which is defense, Social Security and medicare. Those items are in place. I dont think theres going to be any real political will to touch them or tinker around with them. We always hear about fraud, waste and abuse. Perhaps there will be some, somehow getting we know its a lot of money, but its been promised before, so maybe this time it will actually come true. Neil what about infrastructure . I think thats going to happen. Thats bipartisan. Listen, weve got a dam in california thats going to be in trouble in midweek this week when this next storm comes through. Neil right. You know . Its a 4 trillion problem according to the u. S. Civil engineers. Its a 5 or 6 trillion problem neil we just dont know where the moneys going to come from to deal with. We dont know where its going to come from, but when japans Prime Minister came over and talked about, hey, there are smart ways wed like to informs and, of course, he was also talking about financing his own book, bringing in japanese bullet trains, but who the heck doesnt want a bullet train . You know what i mean . [laughter] neil right. If its got to be a japanese bullet train, so be it, particularly if theyre going to pay for it. Neil and theyre american jobs. Charles payne, thank you, making money with Charles Payne, 6 p. M. Eastern time. He does make you money. If i had a list of all the stocks hes recommended, well, i wouldnt be talking with you right now. [laughter] yes, i would be, because i love what im doing. Thats 6 p. M. Tonight. In the meantime, new calls right now on fake news, but who is more fake . Why the president says its not him, its the media, and hes not giving up. After this. But there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. Neil all right. A sensation apparently too hot to handle, were just learning now that mila your knop lis has been disinvited from cpac, the acu chairman, matt schlapp, is on the wire saying due to the revelation of an offensive video condoning the American Conservative Union has decided to rescind the invitation to speak at the conservative Political Action conference. He is a branded fellow, says some pretty outrageous stuff, and almost too out yea juice, so concern outrageous. Meanwhile, President Trump is calling fake news the enemy of the American People. Vince says the president has the right to give his opinion on the press, but he might have to deal with the consequences when he does. Vince, the media comes back and loves to claim, of course, that donald trump is thin skinned, but often time i think a lot of our colleagues in the press can be even more so. Its an out of control relationship now, and the president isnt letting up, theyre not letting up, where is this all going . Its clear they cant be what theyre supposed to be which are impartial observers of the news, right . Theyre supposed to, in a detached way, take in the events and make sure the truth gets to the average consumer, and thats just not happening. Every time donald trump takes a swipe at the press, they take it personally. And and i think as a result youve seen sort of not only a sustainment of the types of attacks that the press has made on the president , but an increase. Theyve really pitched up. And be that includes writing a lot of stories that are sort of halfbaked, allegations that dont have roof of wrongdoing, but this still smells fishy, the type of reporting that during the Obama Administration would have been decried by the New York Times as being not fully there or circumstantial evidence or not fully filled out. Nowadays half a story seems to be enough to go after the president. Neil you know, if you want to get all the bad stuff and have at it, a 24hour news cycle, 24hour news network site, there is good stuff to get out with the frump administration as well the Trump Administration as well, addressing some of the promises he made on the stump, the tremendous response we have seen out of the Financial Committee and 2. 5 trillion plus that benefits not just fat catsful but i see a disproportionate weight on the bad stuff. A good example was a couple of weeks ago when in the middle of this whole vetting controversy in the courts, the media completely glossed over the president meeting with the head of intel, committing a billion dollar factory facility in arizona and thousands of u. S. Jobs, barely any mention. Right. And be this is, i mean, this is a traditional rob for the press that the good news is own not covered, you often see only bad news, but its accelerated in the trump era, i i think, because of a personal be animus for the president. And, you know, this really theyre driving, i think, a separation in the country. And thats notable in several polls, one is right track wrong track. Rasmussens been tracking it. President trumps at 47 or in that vicinity. Neil right. President obama never had right track numbers in all eight years, but if you only listen to l. A. , d. C. And new york, youre often left with the impression that its going very poorly. Theres a huge swath of the country who thinks very favorably of President Trump, and thats the reason he held a rally on saturday, he wanted to remind them there are millions in the country who do support his initiative. Neil but that rabid base toomey was addressing, is he really expanding the pot here . Doesnt he want to draw in and get attention away from just those who worship him to those who might be skeptical, but they could be brought over . Well, i think he these to be concerned about that. Youve heard him in several major speeches, by the way, including this one toward the end he talked about a call for unity. It wasnt just about the people hes working with that support him already, but that more people need to come around and support a country that he can work for a country for all americans. And i think he needs to hit that drum. Fox news polling said 71 of people said President Trump needs to be more careful about what he says in public, and my sense is he genuinely believe he has a credible message that can be signed on to. They want him to convince others. Neil i always think all these disagreements and charges of lies are distortions on either side and becomes a moot point if the economys going your way or if people are peeling palpable feeling palpable, discernible results, either if he gets the tax cuts through or just the robust pickup in jobs, the likes of which we have not seen in a tepid recovery. That is the great equalizer and moots all of this. What do you think . Putting points on the scoreboard is very convincing. You just ask tom brady. All the time, if you can accomplish something, you can see those numbers tick up, ultimately, historys going to hook kindly on you, and i think your contemporaries at this moment will begin to look kindly on you, but donald trump has an uphill battle. If hes going to battle the press the way he is, its going to be tough to get his message out because theyre constantly filtering him which is why i think hes constantly rushing to twitter. Neil all right. Vince, thank you very much. Nice to see you. Neil President Trump is set to pick a new National Security adviser to replace Michael Flynn. Apparently, its proving much tougher than earlier thought. Why is that the case, and what is it those who apparently have passed over on this job, well, why did they do that . After this. We asked a group of young people when they thought they should start saving for retirement. Then we asked some older people when they actually did start saving. This gap between when we should start saving and when we actually do is one of the reasons why too many of us arent prepared for retirement. Just start as early as you can. Its going to pay off in the future. If we all start saving a little more today, well all be better prepared tomorrow. Prudential. Bring your challenges. Thatll thatll all right, this is just coming across the wires right now that House Intelligence Committee chairman devin nunes, he said this yesterday but now the fallout from it, that Obama Administration holdovers are illegally leaking information to the news media in an effort to damage President Trump. Now, this assessment comes amid leaks bolstered mr. Trumps claim that he is being targeted by unlawful disclosures of classified information, and he says that is the real story here. Again, not so much what is leaked, but how frequently it is happening. To bud mcfarlane, the National Security adviser under Ronald Reagan. Bud, this comes at a time when we have seen the disproportionate number of leaks in this administration, some would say someone at the state department leaked that phone call the president had with the australian Prime Minister, others are saying weve seen similar efforts within the Intelligence Community that leaked embarrassing details of positions we were going to take with the russians and that those might have wrought down Michael Flynn brought down Michael Flynn. What do you think of all of this and how widespread it is . Well, neil, it is a tension today between the Intelligence Community and the president. Part of it brought on by misunderstanding of comments made publicly in the campaign, a time when rhetoric tends to be a little bit excessive. But i think it can be overcome. It is outrageous and intolerable, we cannot develop sound policy if the president doesnt enjoy the loyalty and performance of the entire Intelligence Community. The National Security adviser, as you know, is arguably the second most important appointment the president will ever make because the president makes the goals, but its the security adviser that has to bring together the Intelligence Community, the cabinet officers, the joint chiefs of staff and providing the president how to do it. So this appointment coming up, the next few days, is enormously important. Hes also the crisis manager or the officer in his government that has to try to prevent crises. So theres a lot banking on the National Security adviser. Neil yeah. You know, were told that general David Petraeus and vice admiral Robert Harward apparently were not interested in this position because they would not have adequate control over who would be their deputies, who would be their media team. You never know what the real truth is, i grant you, in these situations. But how important is that especially to assembling a team if youre the adviser and youve been in that catty that you have your capacity that you have your own people in there . Well, it is important. Fortunately, the deputy right now, kt mcfarlane no relation very talented person with a long history, student of Henry Kissinger going back some time, she served for him. I think that the tension and the public rhetoric expressing anxiety about the staff and competing centers of influence on the president really were expressing what now is appearing a misunderstanding, and that is that other competing centers in the white house in the west wing are not really involved in National Security affairs. Strategic initiatives group is focused primarily on how to engage the Business Community of the United States into important initiatives for our country to take overseas. But not competing with the National Security adviser really. I believe this is going to be smoothed over, carried out, a teams going to be in place be soon x were going to have a chance to see the real policy formation process work effect be ily. And im optimistic about that, neil. Neil do you think, though, that the way maybe flynn was treated im not saying hes without blame or role in all of this that other potential candidates have said, boy, there but by the grace of god could go i, and i want no part of that . Well, again, i think in every transition, in every administration there are going to be people who simply disagree with the president , some of them inside the Intelligence Community. Well, loyalty is important. That can be changed by appointing as the new director of cia people who are good leaders. You have in mike pompeo at the cia a remarkable man, first in his class at west point. But a man who knows how to lead, to inspire confidence, to draw the st talent and wisdom out of his own employees and engender a loyalty that is genuine and enable us to move forward with sound policy. I think thats going to work very well, it just takes a little time. Its not unusual. Neil all right. Real quickly, Keith Kellogg to, acting adviser, john bolton, Lieutenant General h. R. Mcmaster, Lieutenant General robert kaplan, those are some of the names that have been mentioned. Any one particularly pop out at you, or do you like them all . What . These are men of great distinction and experience and knowledge. I do think that its useful for a security adviser to have some history in military affairs, so i think of those you named here that the military candidates have an appeal to me, and i expect to the president , that will prove decisive. All of these are good people. I believe were going to see an impressive leader emerge and be named here in the next 48 hours. Neil well, i think you set the mark, bud. Well see what happens, bud mcfarlane in washington, d. C. , we will know soon. In the meantime, janet yellen and donald trump in sync . This would be, like, the oddest couple of all. Can these two get along without driving each other crazy . Great panther silver produced approximately 4 million ounces of silver last year at their 2 mexican mines. Their recent mine acquisition in peru, once fully operational, stands to increase their production up to 75 percent. Great panther silver wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Neil all right, we know that paul volcker and Ronald Reagan worked well together, volcker then the central bank chief aggressively raising rates to hit back on inflation. Ronald reagan later cutting taxes to ignite an economic boom. Could it work this way again, maybe rates not rising as rapidly or taxes coming down as mightily . To Charlie Gasparino on what hes hearing. I mean, you really need better theme music for this segment. Love is in the air, i dont know, the love boat them a, something neil youre quite right. One of the bigger, i would say this, ive been talking to investors, and theres a question you raised before, is there a relationship between janet yellen and donald trump that would make sure that fiscal policy thats Donald Trumps efforts to rein in regulations and to cut taxes is in sync with Monetary Policy which is Janet Yellens stated intent to raise Interest Rates. And if you dont have that in sync, there could be a real problem. We might not get fiscal policy, but janet yellen may raise rateses intending for the impending fiscal policy and miss the timing, and that would screw up the markets. And woo were getting from major market participants, neil, is one of the threats is they believe the fact that there is no real stated relationship between these two, that there is not a line of communications i dont even believe theyve met yet. I might be wrong on that, i will correct it if i am wrong, but ive been doing my research, and were waiting for a comment from hope hicks at the white house to determine that, but i dont believe theyve met yet. When you talk the sophisticated investors, this lack of relationship is the one thing theyre worried about in the markets right now. Screwing up the rise to 21,000 and possibly a much more vibrans 1. 5 growth rate which is pretty dismal coming out of a steep recession like we have. So now here are the scenarios, what theyre worried about. Number one, donald trump would not get his, the massive amount of tax cuts and regulatory cuts, that somehow theyre going to be scaled back dramatically for a lot of reasons. Maybe Congress Needs to pay for some of these things, including infrastructure spending, and janet yellen would be forced in light of this, the possibility of this, to start raising rates x. That sort of mismatch between monetary and fiscal policy could lead to a lot of problems in the markets, the markets selling off because the economy will not grow to the extent that justifies dow 21,000. We should point out its not that easy for the fed chairman and for fiscal, and for the president endorsing fiscal policy to be in sync. You could make a good case that when Alan Greenspan was cutting rates dramatically during bushs, you know, when bush was in office before ben bernanke was appointed, fed chairman, that that laid the sort of groundwork for a housing bubble that sped up the economy so much, and it blew up, obviously, in the last year of the bush, of the bush presidency leading to the financial crisis. So remember, this stuff is not science, its an art, and its one of the pitfalls of the market. Its something that every investor thats tching today should be very attuned to. Does janet yellen and does donald trump have some sort of, are they synchronized in some way between monetary and fiscal policy which is, you know, those are the two drivers, ways the government drives the economy. Neil, back to you. Neil real quickly, lets say the president doesnt get all he wants on tax cuts, is that a sign she would hold back because that stimulus is gone . You hope so, okay . Neil yeah. This is such a i mean, we dont know exactly. Now, i think janet yellen, just reading into her a little bit, is such a dove that she might, you know, she might err on the side of caution and not raise rates, but you really have to, you know, we have to see what happens. Neil all right. Charlie gasparino, thank you very much. Well have more after this. Miraculously, the stock market continues to not even budge. It could have something to do with the president s day holiday or that futures are optimistic for tomorrow. More after this. All right. The pause that could prove refreshing for the markets when they reopen after the president s day holiday. It would be the eighth Straight Record close for stocks. Cheryl casone to take us to the next hour. Hey, neil. Happy president s day to you, mr. Cavuto. Well, right now were awaiting President Trumps new executive order on immigration. Expected to be rolled out any day now. President trump has vowed from the start of his campaign to make and keep america safe again. Hello, everybody, im Cheryl Casone in for trish regan today. I would like to welcome you to the intelligence report. Neil cavuto is here, varney is here, and were here for you. And were here live following President Trumps every move on this monday following all the breaking news for you. And right now, not my president s day protest are taking place across the country. Protesters denouncing