Transcripts For FBC Cavuto Coast To Coast 20170511

Again, north of 2 1 2 on annualized basis. That is a full point, a full point higher than it was on annualized basis last year at this time. Why do i mention all of this up top here . That is another wrinkle for the market to digest, the stock market to digest, to put off action on things like tax cuts, on things like regulatory relief, on things patching up health care law. By the way the health care law, i dug up some numbers that i wanted to share with you, i will as incomes two hours ensues here. We are really given a load of bull on this. I just want to separate what are the real numbers with obamacare and how many really have signed up versus how many are picking up Health Insurance now courtesy of stronger labor market, for example. The numbers might surprise you, hear both sides tell it, we dont want to jeopardize enrollment, it is already jeopardized. That is not right or left thing. Both sides seem to hate me. I want to relay fascinating things we found out that are going to weigh on stocks here, weigh on this debate. That is if we ever get to it because what is going on capitol hill as we speak. The acting fbi chief Andrew Mccabe taking on any and all questions. With him the head of the nsa, cia. Blake burman with the latest on all of that. Hey there, blake . Reporter Andrew Mccabe has been acting director of the fbi for 48 hours. He he is making major headlines inside and outside the white house. Yesterday when the white house defended president s firing of jim comey, that comey simply lost truth of employees underneath him. Mccabe was asked about that a little while ago indirectly and he pushed back on that, saying comey has quote, broad support as he put it among 36,000 plus members within the fbi. He described ongoing fbi investigation is conducting into potential russian meddling in the 2016 president ial election, as quote, healey significant investigation. There is also highly significant. There is couple reports out there, neil, seems to suggest before jim comey was fired he asked the department of justice for more resources. Mccabe asked several times the department has resources it needs to conduct investigations Going Forward. Mccabe said indeed they do. Also said, that would kind of that request from comey would break protocol should he have made it. One thing mccabe continued to reiterate throughout this hearing, which is still ongoing is that the investigation into russia will indeed continue, no matter who is leading the fbi. Listen. Are people experiencing questions and are reacting to developments this week . Absolutely. Does that get in the way of our ability to pursue this or any other investigation . No, maam, we continue to focus on our mission and get the job done. Reporter older than a couple days, fbi director jim comey testified, neil, potentially as early next week. We do so as private citizen and do it with a wealth of knowledge of years as the fbi director. Take a listen to mark warner, top democrat on the Senate Intelligence Committee Asking for that to happen. These actions will do nothing to undermine our resolve to follow the evidence wherever it leads. We hope to speak to mr. Comey. We will speak to anyone and everyone that has something to offer in this investigation. Reporter White House Press briefing in the next hour, neil, in the briefing room. You can imagine this mccabe hearing will dominate part of the briefing. By the way as it relates to the white house, the president , what were expecting from him later today, we expect him to sign an executive order that would set up a commission to look into voter fraud and potential voter suppression. Neil . Neil Sarah Huckabee sanders doing the honors again today, right . Reporter today, tomorrow. Sean spicer is out on Naval Reserve duty. This is third time last two weeks she will take the podium right there. Neil wow, is that hinting of a maybe a permanent placement . Reporter there is reporting out there about it, potentially the president is looking into the. Senior white house officials tell fox that they were trying to tamp that down. Reality, press Secretary Sean Spicer is in the reserves. He goes over to the pentagon. This is part of the duties he has to fulfill. Timing might not be the best for him but you know, it is a cloud that will continue to hang over him no doubt. Neil good for him. Theyre both good at their job. Political way of handling it on my part. Blake burman. We were first to pounce on it idea echoed in the media headlines again today this comey fixation is really meant to be a deflection from the gop agenda, not a very popular agenda, certainly seen with the mainstream media, obviously with democrats. I dont think that is a right or left argument. I think it is fair to say that is the fact. Forbes media chairman steve forbes what he makes of that and how republicans answer that. I think a lot of buffetting in the markets, steve, have to do with that. As you know and you reminded me over the years, clinton years, these guys are not red or blue, theyre green. They want to make money, money. This gets in the way of that of an agenda they would think would be moneyfriendly, right . Yes indeed. Politically it is a huge distraction getting two big things through for the republicans, health care in the senate around tax bill for both houses, even though the economy is starting to show renewed signs of life, it still hasnt the vision gore that will help them next year. Neil that is interesting, steve, the improvement in the economy, this one forecaster today predicting very soon an Unemployment Rate under 4 , on top of pickup in wholesale inflation, unexpectedly good news or jobless claims at a 28year low, that maybe the market is sayings using this justification not to goose the economy . When the patient is Getting Better you dont pull patient off the medicine and rip off bannages, whatever else the patient had. Neil actually my doctors tried to do that. It is very rude. But i understand. Didnt do you any harm. You look better than ever. Neil there you go. Sadly the economy is not in as good shape as you are. The economy needs tax cut, tax simplification on business side and personal side and Health Care Uncertainty out of the way. Amazing how the republicans let democrats define the health care debate. Most americans now think that the republican plan means tens of millions of people will throw out in the streets and dying in the gutters all that kind of thing. While the plan has flaws it is not what the democrats are saying it is. Republicans have no response. They didnt even have talking points when we went home and house passed that last week. Neil you said that you were an island here in a vast ocean of same old stories on this health care thing. But just to remind people of that. I found these statistics amazing when i was reviewing them. 11 Million People have obamacare exclusively. There are about another nine million more because of pickup in the job market, and maybe tangentially through obamacare that had insurance who didnt have insurance. When you hear figures 24 million will lose their insurance, that is something the cbo put out, we should caution here, this is based an estimate over next 10 years. It was cbo estimated back in 2010 when this was first crafted that 32 million americans would be covered exclusively with, who never had insurance before by obamacare. By 2011 they revised it down to about 28 million. By 2014, revised down to 25 million. By late 2015, down to 22 million. And as i said, the core number is more like 11 million. So, my only point in mentioning that, and saying that what youve been saying is, you can play fast and loose with the numbers. The media leaves out the fact that when 24 million lose their insurance, it is based on an estimate Going Forward in the next 10 years. Furthermore, it is from the same body of folks who so wildly missed it before. And of that 24 million they estimate, good number of them are people who wouldnt take the insurance because it is so expensive. Neil bingo. And they dont have to pay the fines anymore. If you dont coerce them they dont want this lousy product. Neil by the way, what has happened, sorry to jump you, this really gets my goat and you know it, this idea that whats really contributing to the pickup in Insurance Coverage is more jobs. You give people more jobs, they get coverage. Sometimes we make this more complicated then need be. If are improving the economy and pick up jobs, people will get insurance, their prospects will improve. And, the government doesnt have to do that. That is something that private enterprise, growth, whatever, can make happen. Thats right. Through obamacare for five years they have special program for people who might not be able to get insurance with preexisting conditions. You know how many people signed up for the fiveyear period. 114,000. You can take care of them republicans do it with relatively small amount of money. That is absolutely garbage. The one part they have to cure i hope they do in the senate, people between 50 to 64, who make too much for medicaid, not old enough for medicare, a lot of those will face Insurance Premium increases. I hope the senate fixes that. If they do, you have a pretty good bill. Neil wellsaid. Steve forbes, sort of flying in the face of all this other saneness, but thank god you do. Very good seeing you, my friend. Good to see you. Neil i want to keep saying that. I will keep repeating this, folks. I am a stickler for these details. When they say there is antiimmigration sentiment building up in this country. No there is an antiillegal immigrant sentiment building up in this country. Talk about wanting more people covered with Health Insurance and were saying 24 million americans are going to lose their coverage, that might or might not pan out, but that is over next 10 years an estimate from the cbo. That would be like me telling you will lose 10 pounds in the next year. Would if i could, lets say dont take it on face value. This is the same cbo that if we were to trust the numbers it put out, they dough the best they can, if we use the numbers they put out when they came up with the Affordable Care act, became law, in 2010, they said by now, by now, in excess of 32 million americans would be covered. More like 11 million. Even if you want to be generous and throw he in private coverage now was as a result tank againstly related to obamacare. Just under obamacare s that 32 million . Is that 34 million . No. But i will keep pounding this. Well, because thats what i do. Youre welcome, america. Charlie gasparino right now to talk about another guy carries the torch. Charlie, you have the latest on a lot of this comey replacement news. You are declining the job but apparently you know others that might be considering it. What is the latest . Forebothering italians that is what forever bothering italians that is what fbi stands for in my family. Merrick garland, Appeals Court judge was slated to replace Anthony Scalia by president obama, did not get appointment, that the administration should appoint him to replace james comey at, as fbi chief now. Thanks to my producer brian shorts, fbn has inside story on that. We understand mike lee made a formal pitch to have Merrick Garland as comey replacement at the white house yesterday, at a private meeting with Vice President pence, with the senior counsel of the white house and other white house officials. Here is the interesting thing that schwartz came up with. Both pence and mcbegan weresome what in support of what lee said. They saw merit in the appointment of mayor rick far land as replacement for Merrick Garland as replacement for comey. Officials in the Trump White House were against it. White house staff secretary bob porter was against the idea. There is a debate internally. But, i will say this, neil, i give this low probability of happening. We should point out, this gives you insight into the level of anxiety among the republicanortf impromptu firing i guess is the best way to put it of james comey the other day. The they are really worried about the optics here, to go out and get Merrick Garland, remember, president obama wanted him to basically replace scalia. Republican said no. We need to wait until after the election. A lot of people thought he was qualified for but as you know the republican want the new president , whether Hillary Clinton or President Trump to do it. Make the appointment. President trump won. He appointed neil gorsuch as the replacement for scalia. Merrick garland, his name is bounced around out there. That is a point of contention among a lot of democrats. My point in this story is this, neil. To even suggest someone like mike lee, who is junior senator from utah but on the judiciary committee, a tea party member, even to suggest Merrick Garland shows you that conservatives are really worried optics way donald trump fired comey. You cant get around that. Well have a full blow by blow story about this on foxbusiness. Com. These details im revealing now. Were the first to report that. This was a serious suggestion by lee at a meeting with mike pence and don mcgan. It was not just a tweet he put out. He went to the white house. He was there essentially neil never happen, charlie. Never happen. You could argue if youre donald trump this, might guy might carry a grudge, i dont think he will by the way the whole Supreme Court thing was handled, russian try to do an interim, right . That is the point. I dont think it will ever happen. Neil that is the point. Here is the point, republicans are scared about this administration. Neil all right. No way that mike lee, a Tea Party Guy goes out there and suggests Merrick Garland, a liberal democrat, obviously very qualified to be on the Supreme Court. Neil i would call him a moderate. Qualified to be on the Supreme Court but this is crazy, isnt it . Neil i dont think that will ever happen. It is never going to happen neil you would have better shot at getting fbi is something i would never put you in charge. Here is why i never would have a shot. The my family considered fbi forever bothering italians would neil that could be one ever many things, my friend. Thats true. Neil more bad news for obamacare. Some of the numbers i alluded to are shifting fast, aetna, aetna will leave owl the exchanges. Remember when this whole thing started out, 30 mine states with setup exchanges . Were going quickly to none. Aetna, out of them all, by next year. Stay with us. Predictable. The comfort in knowing where things are headed. Because as we live longer. 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I think morale has always been good, however, we had, there were folks within our agency who were frustrated with the outcome of the Hillary Clinton case and, some of those folks were very vocal about that, those concerns. Neil all right. Acting fbi director who is continues to speak before a committee on capitol hill right now, Andrew Mccabe, is in the role of taking comeys place right now as they go through possible replacements, mr. Mccabe. Joined by the head of nsa and cia i want to get reaction and Drama Building on capitol hill with former attorney general bill barr. Mr. Attorney general, very good to have you. What do you make of where this is going and how far it is going . How far what is going . Neil this is now deemed in the use of some a constitutional crisis. No, it is not a constitutional crisis. I think the president certainly is entitled to his choice as fbi director. While i added mire jim comey a lot, i think he has contributed a lot to the country, he is enormously gifted he crossed a basic line back in july, fundamental line in the department, which is that investigations are supervised and directed by the lawyers, the prosecutors at the department, not the agents. What concerned the administration, the refusal to acknowledge he transgressed limits on power. He sincerely believes he did the right thing. The administration wants someone at the fbi acknowledges limits on the power of the director at the fbi. Neil timing is everything, republican circles, john mccain never a big fan of this president , always see that through the prism of who is criticizing but, timing of this, on news that the Russian Investigation could be heating up, does that just make it look worse than it should . Well, the timing i put at the feet of chuck schumer. He dragged out the confirmation of the Deputy Attorney general, who is is the chief operating officer of the department. Neil good point. The attorney general was recused from the Russian Investigation. So until the deputy was in the building, there was really no one who could deal with these matters. And the deputy assessed the situation, and wrote his memo. So, the timing doesnt bother me but here is the thing that everyone is missing. Which is, jim comey was never in charge of the investigation. Thats trotted out by media and by the president s critics. As i said, investigations are supervised by the prosecutors at the department of justice. And right now, we have two prosecutors that are responsible for the integrity of that investigation, and Rod Rosenstein, with 33 years experience, and appointed by obama to be u. S. Attorney. President obama. And the or the one is dana bente, acting head of the National Security division, 27 years experience. Both of these men came in as career prosecutors. Neil do you buy then, attorney general, this notion that mr. Rosenstein was upset it was being framed as his recommendation, didnt like the way the administration was presenting this all his idea, and that he threatened to quit . That is not being verified by anyone. That is Washington Post story, but what do you make of that . Well that has been he denied. And i dont think it was necessarily his only his idea. I think, there have been questions about whether comey would be staying on ever since the beginning of the administration. Neil right. I think he made an assessment and that played some role. I dont know how much of a role. But the key point is this. The senate knew that Rod Rosenstein would be supervising this investigation when they voted on him. That was all over the newspapers. It was commented on the floor of the senate. Neil youre right. They voted and they voted 946 bipartisan support for this man. These calls for inspectors, what are they suggesting . These two men, who are career people who are obama appointees, are the very kinds of people that you would want handling this case, to assure it would proceed with integrity. I would also point out that the acting director of the fbi, just said on the hill, i totally agree with him, people who work on these investigations, the professional agents are going to do a professional job, regardless of who the head of the fbi is. Those are the people neil i know, my producer will act crazy, going long with you because youre so interesting here, some of the names coming to replace him have a real overt political past. That is sometimes inescapable in washington i know, names like Rudy Giuliani or chris christie. Do you think that would hurt making that case if someone who had campaigned aggressively for the president is in the position of running the fbi . I dont think that would be helpful at this point. And im very dubious that individuals like that would be selected to be head of fbi. Neil what about Merrick Garland, one mentioned today, the former Supreme Court choice for barack obama . I have a lot of respect for judge garland. There are also other judges who had more direct experience running Law Enforcement agencies or running big establishments. I would think that they might get preference to the extent they consider a judge. Neil did you believe when you heard some of these reports what really was irking President Trump was the fact that james comey did not appear to be loyal . That kept coming up in these reports . No, i, my own view is that there was concern in the administration, as there has been among a lot of former people who have served in the department of justice, republican and democrat, that jim comey didnt seem to have regard for the traditional limits on the authority of the fbi director, and was abrogating to himself howers and authorities of the attorney general. I think that was the primary concern. And i think that what essentially may have forced their hand is his refusal to acknowledge that. And, you know, he is free to do that but i about the same token i think the president is understandable wants somebody at the fbi who understands his relationship to the department of justice. Neil okay. Bill barr, great seeing you. Thank you very much. Thanks. Neil former bush 41 attorney general. Martha maccallum coming up. I knew her when she was already a big deal. Now she is a huge deal. But she hasnt changed one iota. If it were me, a little more after this. 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Ask your doctor about onceweekly trulicity. Neil this is what happens to insurance stock getting out of all exchanges, hitting alltime high. Aetna, saying were done with this. Gerri willis on fallout from that. Hey, gerri. Reporter neil, thats right. Incredible move in the stock. Third biggest insurer in the nation, aetna will withdraw from the obamacare marketplace, exiting nebraska and delaware. It previously said it bo pull back from iowa and virginia. Losses mounting for aetna which expects more than 200 million in red ink from the exchanges on top of 700 million it lost between 2014 and 2016. Aetna is not alone. Humana and unitedhealth also pulled the plug. Anthem is expected to reduce participation as well, if not pull out entirely. The move by aetna is one more sign that obamacares promise of offering a marketplace for affordable coverage is crumbling. Today, just a third of the nations counties have more than one insurer. State insurance officials across the country are biting their nails to see whether more will sign on for 2018 in the coming weeks. In iowa, for example, the last remaining insurer, medica announced it might pull out. Worse, coverage has become unaffordable. In maryland, care first is seeking approval for 52 rate hike. Connecticut, rate hikes range from 15 to 34 . As options narrow, more and more people are dropping out. Terry goodrich, raleigh engineer is one. Take a listen. He reduces our quality of life frankly. Yeah weve got that plan in place but with a huge deductible, and paying those premiums, it really doesnt cover anything. It puts us in a really bad spot. I Hope Congress does something because its ridiculous. If they would come down here, if they would have to use this health care they would fix it in a heartbeat. Reporter one obamacare user who is unhappy. After premiums for her obamacare policy surged to 1512 a month. Goodrich and her husband opted for shortterm coverage that doesnt meet obamacare requirements but does fit their budget. Unfortunately the solution is not permanent. Good relationship goodrich is not sure what the couple will do once insurance lapses. Neil . Neil in the middle of all this, you have the comey story going on here, whether that could be a big ol distraction and markets what could be happening right now. Investors seem to feel to get in the way of the Health Care Fix that gerri outlined there. Who better to ask than martha maccallum. Anchors the story on fox news. I knew her when. Her people have people. Good to see you. Great to be here. Neil now theyre saying awful things how far this goes for the white house, right . There is talk about special prosecutor. A commission. We have house hearings going on, investigations going on, Senate Hearings going on, with is this going . Since im in the Business Zone here i would like to make a business analogy. I think that President Trump is having a tough time making a transition from being a private company to being a public company. He now has a fiduciary responsibility to the American People. In the old days he could fire someone, that person would pretty much be gone from his life, right . They walk out the door and thats over. The problem with what he did the other night for him is that he exacerbated issue for himself. You know a lot of people thought comey should go. People have been saying that for a long time. He may always regret he didnt do that on inauguration day. Would have been cleanest time, new day, new start, this is what we will do. All the same reasons still exist. Democrats and republicans shared their disgruntelment with this fbi director over and over again but by doing the way it handled, if anything it anythinged the investigations. All of these folks on capitol hill determined to prove that they are going to do their job regardless of what the president wants or whether or not he lopped off the current head of the fbi. So i dont know that the effect of that sort of what appears now to be kind of a visceral moment that led to this firing even though it was based on things he had been feeling for some time neil keeps changing the story. I know when you interviewed him not too far back, back and forth about the role of the russians, always stuck in his craw gets in the way of story it does bother him, absolutely. Neil democrats say dont think it would change the outcome. Hillary clinton intimated, changed pace of election she would be president today. Yeah. Neil i cant let go of it seems. He cant let go of it. He talks about it a lot. He references quite often john podesta angle, all those angles. Hillary clinton did oversee a deal that gave a lot of uranium in this country. Did not ever get the kind of attention this is getting. Unfortunately in washington, it doesnt always matter what the underlying story is. This takes on a life of its own in terms of the investigation. Now there are things looking into financial connections. There may be nothing there. I always think, you know take a persons temperature to see a little bit whether or not the subject makes him nervous. I never seen this subject make him defensive or nervous. Neil you buy the stories, yelling and shouting at tv comments unhappy with the way the Communications Team rolled it out. They point the finger, you gave us nothing. We have didnt have any, we didnt have 2 1 2 hours to kind of figure out our strategy. Neil doesnt that prompt kind of call for very investigations he doesnt want to see . Absolutely. It was a sloppy rollout. Neil will there be a prosecutor or this is not going away. That is what i mentioned to him when i interviewed him a couple weeks ago. They do need to figure out a way to deal with this in theyre behind the eight ball on it. They let the snowball get away from them. I think this hangs around for potentially years, neil. They will have to find a way to try to change the dynamic of the story, get everybody focused on something else. Neil good luck. They made it tougher for themselves this week i think. Neil martha, thank you very, very much. Martha maccallum. We were i saying the dow down 41 points as well. Interest rates are backing up. Belief another thing could get in the way of things that markets want to see that tax kurtz and the like and improving economy. Jobless claims at 30year low. Produce are prices picking up. We have one guy out today, saying Unemployment Rate will soon be under 4 . So people are assessing that in good news environment. Why the heck do we need stuff trump is working on . Or is that a evil cabal out to torpedo him . More after this. Are allergies holding you back . 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With it, i earn unlimited 2 cash back on all of my purchasing. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Which adds fuel to my bottom line. Whats in your wallet . Dr. Jackson, board of trustees, thank you so very, very much for this great honor and privilege. [booing] i am honored to become a wildcat. [shouting] neil par for the course. You know, there is a lot of intolerance on the left among our young, whether berkeley, in this case, going on in daytona beach, florida, bethunecookman university, a lot of students rose up and turned their backs on education secretary. Whatever you think of her, secretary or elected official, he or she, democrat or republican, there has been an understanding, let them speak. She got a chance to speak but she was interrupted quite often. Campus reform. Org media director with us right now. What did you make of that reaction . Well it just shows, like you said, par for the course. These students clearly forgot the point of college in the first place. You go away to college to hear from people you disagree with, not to shout them down because they have opposing point of view. Ironic thing, too, these students, were not getting a sermon from betsy devos. She wasnt speeching to them. She was congratulating them on accomplishments. This isnt isolated to bethunecookman, colleges around the country where opposing ideas are not welcomed. Theyre not viewed as opportunity to grow. Opposing ideas are viewed as a threat. That is contradictory what college is about in the first place. Neil obviously were all free to express our displeasure every way we want, there is nothing wrong or illegal that these kids do. When it takes the provost of the college to stand up, hey, enough already, where is this going . It is ironic too, these students probably had no idea a week ago who betsy devos even was in many cases. If you would have asked them they would probably hear, she works for donald trump. She must be terrible. For most of them it is strictly her association with donald trump that caused them to stand up and lose their minds and freak out to try to shut her down. Give a resume without betsy devos or her name or donald trump, they would probably applaud her work on tax vouchers, on School Choice for all students. But again, just that association with donald trump. Neil you might be right. You might be right. She got through thinnest, of thinnest of margins to the post. Thanks to Vice President pence breaking that tie. But having said that, im wondering about what this says collectively in a year weve seen since donald trump become president of these protests at berkeley and elsewhere, student dustups at nyu, elsewhere about, getting any conservative speaker . And i know, you know, these Higher Learning centers are liberal bastions. That is fine. For which the left blames the right for being indifferent and not open to ideas, but of late it seems, quite the opposite, the left totally intolerant to opposing viewpoints . It is intolerance in the name of tolerance, which could be not be more ironic. I was surprised they saw the story. Not because liberal or conservative speaker shouted down by liberals, was surprised to see a conservative on campus in first place. We did a study liberal speakers on campus out number conservative ones six to one. If the speak is not in line with ideology overwhelmingly liberal professors and students, theyre just not welcome. These students are graduating having only heard one point of view how the world is. So the universities are not doing the job of enlight inching these students on different world views. Theyre doing a disservice to the future of our country. Neil it is crazy. Absolutely crazy. It is what it is. Thank you very much for joining us. Meantime, snapchat, bubble brewing . 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Neil surprised to the downside and Closing Stores and not up to speed drags down entire retail sector, even stores deemed to be doing okay. Even amazon which has been a big winner getting caught up in the downdraft, as sentiment building that retailers are looking for a world of hurt. As i show amazon, stock is doubling over past year, so some give back is in order. Macys led retail slump going on here. Talk about a slump for airlines, you have seen all the images come across one outrage after another. This shows all of this, well, anomaly stuff. Reality most americans are very pleased with air travel today. That leads you to wonder, who are they polling and are the people theyre polling completely drunk out of their goard . I want to go to tom sullivan, not only because he is astute on these matters but he is a pilot as well. Tom, what do you make of that, do you believe people by and large are happy with air travel today . I think so. I fly a lot. I know you do too, neil, and knock on wood i havent been in a fight on a plane for a long time. Neil people know you. Youre a big celeb. I know, i think it is the anomaly but at the same time it ties in with, i glad you put up macys and put in retail problems with the stock market today and not only recently. It ties in with customer service. Now adays where you go, if you get Good Customer Service it stands out because it is not common. Whether it is at a depart store where you can have a choice and can click and point on amazon where to buy things as opposed to go to brickandmortar, if they invent how to beam me up, scotty, i would rather get to los angeles in a beam than get on go to the airport hour 1 2 beef hand. Be treated like a criminal being patted down with whole security thing. Things seats are crammed together, no wonder people have snapping fit when they get on the airplane but it doesnt happen that often. Neil im not meaning to disparage the industry or airline or pilots or flight attendants, but those planes are crowded. They are. Neil nerves are frayed. Were getting more crowded into the busy season. Only thing we can buy this, expectations are solo, if you get off the plane without being hit by another passenger or worse, you feel you have had a good flight. That is what happened. The arent part people want a bargain. Prices are at record low as far as Airline Ticket prices go. The number of passengers flying is record high. More people cramming on to fewer flights. The whole process is not popular. When they did serve food, people complained about the food. Now some of them serving something more than pretzels. But still the whole experience is not a good experience. But i think because of the fact, for a couple hundred bucks you can get out to california from new york, they go, i like it. Neil tom, i stand corrected now. But as soon as we disconnect your ifb, i will start trashing everything you said. Tom, thank you very much, my friend. Good seeing you. Good seeing you. Neil i dont know, i like what tom is saying. I think our expectations are so bad that maybe youre coming in with just the worst expectations. So if youre mildly better than that, youre going to say good things. Who knows. Saying a few good things with the market well off the lows, but still down 56 points. You know a lot of the drill by now. Expectations and fears going on with the comey situation could drag on and delay things markets like. Then to add this, disruption of good Economic News. I posit it this way. Interest Interest Rates backing up, economy looks good, right . Normally looking good may be reason why you really dont need a good ol tax cut. So markets are weird. Theyre just, i have been covering them 30 years. Theyre weird. Theyre worst than my kids, after this. Neil all right. A look at what is going on. Is going on. The dow down 36 points. This is threatening to be the first down rick so early. Weve had after rerun maps here, record for the dow, nasdaq and s p. All those market and worries about the things they want to stay like tax cuts, health care, all weighing on the skies. Good Economic News which would be the case, but it seems to let the likelihood the market do want to see like a Health Care Fix in those tax cuts. Connell mcshane on all of that. Reporter take him in jail. A couple things right off the bat. Number one were off the lows today. Number two other things besides politics out there. Youve been talking about it, what have you. The likelihood the trump agenda gets delayed here that is something a lot of people continue to talk about. Just a way to illustrate, the wall street journal does a monthly survey, economists and the light did they look at the Economic Impact of a fully implemented trump agenda which kind of gives the idea of how people see a best case. But they said its 2. 3 gdp growth long run if the trump agenda were put in place. Its not the three, 4 the white house has talked about. The Unemployment Rate would average 4. 4 . I point that out because they are assuming a lot. They are sunni taxes get cut, regulations rewritten. Infrastructure spending going on. The trump agenda gets put in place. The question a lot of investors this week is what if that doesnt have or what if it really is delayed. We are starting to see some sign of that, the fallout friend jim comey getting fired may be getting in the way of the agenda. There was a Senate Committee that would mark up a bill related to health care but the labor market because members were busy crafting their comments and responses. It may not be a huge deal, but seen as one sign of a distraction for the markets potentially growing. Talking to a few investors, and they seem to be worried more than anything else about tax reform. They can still see action on regulations through executive order, but they need congress to do with taxes and not the night and it seems to be getting pushed off more and more. Same old story. Tree into thank you my friend, connell mcshane. We are monitoring separately at the respective heads of the ranking minority leader of the Senate Intelligence committee talking to reporters now. Much of it has to do the differences between the timing of donald trump deciding to fire james comey. The president has an interview with nbc news and among some of the other item he decided to fire comey before meeting with his attorney general and his Deputy Attorney general Rod Rosenstein so is there a debate into the cake. He did not like the way he was per trade is the guy who recommended this and wanted to make it happen. You never know how these things go. Nbc news he made the call before he even talked to those guys. The former ambassador to the united nations, john bolton. Where is this going . Well, lets talk about substance first and then lets talk about spain. On substance, and thats exactly the right thing to do. The only criticism i have is comey wasnt fired on january 20th. All this backandforth to did he decide before commentating not . The president makes decisions and how does this affect this in the most effect way . We carry through on that. The amazing testimony by act in fbi or mccabe who said he didnt see any need for more resources for the russian event negation putting a pin in the balloon of the media speculation about comey having asked for my money, not the executive branch as if to say he was fired because there is getting more serious. The substance of the firing was exactly correct. The psychoanalysis by reporters. I didnt know they were shrinks. What motivated tron. This is all very interesting. If you feel that kind of talk. That is what comes back to it. You need a prosecutor and get a commission. The best day was january the 20th. Everyday after that gets a little bit worse. It would have been better the week before that. They damaged the credibility of the fbi. He endangered 300 million individual american citizens by his commentary. Prosecutors have an obligation grounded in constitutional fundamentals. You either indict somebody and prosecute them or you close the file. Tree into real quickly, i want to get your take on what the fbi director was saying in response to your question from one of the ranking minority member is when he said he was certain they give the Committee Congress a headsup if he sensed sensed any white house interference. That was a loaded question and the assumption that senator warner was taking is of course theres white house interference in that comey matter over political issues. What did you make of that and where the hearing ultimately beard . These kinds of questions are for people of never been at the department of justice can the department of justice, never served there, never dealt with the fbi. I just want somebody, some politician to name me one fbi agent who could he intimidated by the Trump White House. It does not happen. This fantasy that the Justice Department, career prosecutors and career investigators are pushed around by this white house or any other is just false. The whole concept of the independent counsel is a bad idea. Its been a bad idea from the getgo. But the career people at the Justice Department do their jobs when it comes to these kinds of investigations. Youd actually find that justice would be done. The problem with this con and harping on an independent counsel is that politicizes the situation and it says the fbi agents and career prosecutors are incapable of doing their job. I used to work with them when i was at the Justice Department. It is simply not true. Its not true and theres a republican in the white house and its not true and theres a democrat in the white house. Neil bill clinton himself found out when he fired the last president at the fbi to an louis who ended up being far worse than bill clinton couldve ever imagined. Very good seeing you again. Wild stuff. Meanwhile, President Trump is facing a lot of criticism for even talking to russian officials. To that guy who wrote among many bestsellers and this put a political environment is already here. Gary called on, the chess grandmaster. Its so good to see you on the timing here. Meaning the russian officials on the very day or the day after he fired james comey. What do you think . I am no experience in psychology. Definitely not an experience gained the department of justice, but i can tell you theres one rule. If you have a good move now, it doesnt mean the move would be good later. That looks like a mistake. Delay decisions will be carried through in a very different situation. Of course i agree director comey how to be fired when he played the role, consciously, subconsciously influencing the elections. Since President Trump praised him many times as a candidate and eventually as a president , i think we should look at the latest events and not pay too much attention to whats 10 weeks ago. Neil what are the russians gain about this . I can tell you russian media, likely propaganda they are putting trump, laugh roth all over the place. Neil kislyak is fine. Hes a man who spends his acted by Intelligence Officers as a top spy. Smiling, hugging him. The design play. Neil the white house would allow photographers and to see that. We got it from the kremlin. Is a net amazing . I dont know if they lost trumps competence on before, what happiness he named rush is the most dangerous nation because that intentions and resources. How many days after they survive just very few. I dont buy the statement that theres no direct intimidation. If the director has been fired, most likely connected to the Russian Investigation. Theres something to do with the psychology with the morale. Even though they denied that role, Vladimir Putin seem to think that he elected donald trump. We dont know, that he interfered in u. S. Elections, french elections. He has been interfering in germany. They know, its like the fact. Neil when they meet, that is Vladimir Putin and donald trump meet this summer, how is that going to go . We should understand what the trump russian policy is. He just smiled that it is not from the country that is agreed by the intelligence attack of the United States in the next day. In the oval office, again look at the timing. It is all about timing and the time it makes very suspicious and i hope neil what you mean suspicious . By putin has given such a boost. The russian Propaganda Machine respond. Putin supported three out of four candidates. He thought he could buy off donald trump. Look at this year year rate. It was already ages ago. Discount can and may be a 24 hour. This picture is worse for putin. It is the same as obama and the united nations. But now he has Sergey Lavrov in the oval office. And now with this timing, again for russia, russian propaganda, its a demonstration. The secretary of state has relations now. Im paraphrasing here. So if they should buy this guy off, its not happening. I dont know. Not that give me suggestions. Its very important we put mendon not good so far just added more shadow, more suspicious. You will be using a because uncertainty on the table. Neil thank you very much. Kind of scared me here. Garry kasparov, bestselling author. That does take a little bit of psychology and then some. Stick around. You are watching fox news. Now on the next page youll see a breakdown of costs. What . Its just. We were going to ask about it but we werent sure when. So thanks. Being upfront is how edward jones makes sense of investing. How if guests book direct ater, choicehotels. Com and stay twice theyll get a 50 gift card . Summertime. Badda book. Badda boom. Got you a shirt . I kept the receipt. Book now at choicehotels. Com tthats why at comcast,t to be connected 24 7. Were always working to make our services more reliable. With technology that can update itself. And advanced Fiber Network infrastructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. Neil the stock of snaps plummeting on reports that growth is growing. Michael robbins, tech strategist on all of that. What is going on here . How would you describe it . I just think this is a gross overreaction. While seat height, height, height this ipo. Neil very true. The grand slam, doors opening for ipos. If youre smart coming or going to get in on it. People are shocked at the top languages to 2 billion loss come if you had the headline, youre like zero my god. 2 billion of that is the cost of an ipo which is the saddest part because were a Growth Growth Oriented Company like snapchat, i would rather see the 2 billion spent on meaningful content and upgrade and so forth will add to the user experience. Neil you think this is overdone . Would you buy it at these beatendown levels . That would not recommend this stock right now to Retail Investors simply because i said the same thing about facebook really on. The First Six Months the Company Trades in the aftermarket is really dicey for Retail Investors. The only way youll only way youll build a duet is it only way hell really do it is with iconic cowboy split. My son now. For most Retail Investors, that doesnt make any sense for aggressive traders. Theres a lot of upside. 1 of the mobile ad market. Thats about 1 . A hundred billion dollars market today. About 250 billion in 2022. If they took two Percentage Points from facebook and two Percentage Points from google, theyve got 5 of the 250. 000000000 market which is an annual run rate. I would like to have that, but i wont take it for the next couple quarters until you see what is happening with not user growth, but what is happening with the growth in revenue per user and 90 cents now they just took it up they could get 2 in the next two years. Neil you should run the other way. But these hot offerings. Just wait. Go find them at a better price. A couple weeks, couple months down the road. Change your investment as a result. I would wait until the period is over six months before the ipo. Just way too volatile. Again, i said the same thing about facebook. But once it is over, started inking is a lot of potential here. The stocks to area well. Neil down as low youre right. Look at it now. These guys have a fantastic installed user base. 30 minutes of the average user in a deal that 3 billion snaps a day. Theyve got a good product. User growth i dont think is what is the key metric for them, specifically because they want to be range bound. They went north america and europe because this is a 4g or wifi offering. Traders that where you could draw the faces. It seems very to me. You have to compress the images so much it would be a horrible user experience. Though the second to market but have a seer. Product. Neil good stuff. I was less ominously contrarian view. Good to see you. Thanks for having me. Neil treasury secretary mnuchin making a case for u. S. Tax reform. And thats coming at a time or the french leader cant send only a week after elected in france to be president. Youre inaugurated her sworn in. One week and started talking about cutting taxes below what they are in america. Adam shapiro in italy with leaders. Adam. We are on the adriatic coast in barrio at the g7 finance ministers and Central Bank Leaders are having janet yellen is here. So its pristine lazard. She arrived with Philip Hoffman and stephen at june mnuchin. Hes running a little bit late but he will be done with all of these people. When meeting with the italian minister of finance and not meeting was described as successful on cybersecurity and economic growth. Especially the italian baking situation. For secretary mnuchin he wants to discuss at this years tax refund in the United States. They have questions about what thats going to mean for their country, especially the administration dives into the rational plans for a border adjustment type. Treasury spokesperson has told us right now they dont see a border adjustment tax working in the United States, that they are opening to listening to congress on that issue. The secretary of the treasury will be leading a discussion tomorrows cybersecurity and with the g7 nations can better protect Global Financial system and of course talking about regulatory requirement United States as well as sustaining Global Growth throughout the world. The key here is traders not on the agenda for the formal discussions,but the policy administration is front and center. Adam comic thank you very, very much. Adam shapiro allegedly working in italy. Well keep track of that. Thanks, buddy. Charlie gasparino is here. I have family in bari. Neil what he think of what he was saying . These guys are not in agreement on these issues the United States might overdo it. The same, that is part of the trump mantra to shake and sad. Not necessarily go. This is the good part of donald trump. He leaves them guessing. Why would you be in lockstep with europe over trade . What do you think of this french brother coming in, macron. Hes an interesting choice. He married his High School Sweetheart who was his teacher. Neil little trivia there. Donald trumps wife is 24 years younger. Thats the american way of doing things. I think its interesting because one thing neil he married his high school teacher, right . I just wonder if thats legal. Neil hes doing a lot of Ronald Reagan types of. Well, hes definitely a social liberal, but he is a tax cutter. A lot of corporatists and hes essentially corporatist, you can see this in gary collins, the trump nec. They believe lower Corporate Taxes what would happen if the whole world raises the lowest tax rates. Dont get ahead of ourselves here. We could do worse. The planet could be a lot worse than that. Corporate taxes is the reason why we have so many u. S. Companies, high Corporate Tax in the u. S. Is why we have so many u. S. Cant need doing inversions, going to hear it. Neil we touched on the beginning. Is it in danger now . Trumps agenda . What you think, then . Neil im asking you. You answered me like yeah, dad. Trade too deep in saying it. Ive been watching cavuto coasttocoast so many days. Especially since i was out of the is. Nothing better to do. I was in dallas. John tatum is out there. Guys wear suits with cowboy boots in dallas. But you know, heres the thing. Just think we are talking about comey. Instead of how good a Corporate Tax cut will make the u. S. Economy. Trade to maybe thats why we are talking about it because they dont want to see that. The democrats definitely dont want to see it. I think its a good case to be made that comey shouldve been fired earlier. The story we had earlier that my producer Brian Schwartz broke about mike leigh putting up Merrick Garland, that will tell you two things. Republicans are scared about the fallout of this thing, that they cant get ahead of the story and number two, they think they can possibly lose the 2018. Neil at the rate they are going. Thank you, my friend. Always good to see you. I thought i was going to talk about something else. I wrote your punches. Pumpkin spice slots is. Neil i love him but hate him at the same time. The White House Briefing going on. Sarah Huckabee Sanders is doing the honors. We are getting more detailed bulletins from this interview the president has just wrapped up at nbc news. The president saying the firing is not meant to send a message to the fbi to back off on the russian probe. No doubt a question or two might come up on comey. Im just taking a wild guess here when it begins. Stick around. You are watching fox business. A. Thats why i rent from national. Where i get the control to choose any car in the aisle i want, not some car they choose for me. Which makes me one smooth operator. Ah still a little tender. vo go national. Go like a pro. Predictable. The comfort in knowing where things are headed. Because as we live longer. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. So how old do you want uhh, i was thinking around 70. Alright, and before that . You mean after that . No, im talking before that. Do you have things you want to do before you retire . Oh yeah sure. Ok, like what . But i thought we were supposed to be talking about investing for retirement . Were absolutely doing that. But theres no law you cant make the most of today. What do you want to do . Id really like to run with the bulls. Wow. Yea. Hope youre fast. I am. Get a portfolio that works for you now and as your needs change. Investment Management Services from td ameritrade. Monday you met with the Deputy Attorney general Rod Rosenstein. Right. Did you ask for a recommendation . What i did is i was going to fire comey. My decision. It was not you had made the decision before they came into the room . I was going to fire comey. There is no good sometime to do it, by the way because in the letter you said i accepted their recommendation. You had already made the decision . I was going to fire regardless of recommendation. Neil slightly nuanced version, updated version why the president ultimately fired james comey. We are awaiting more details that might be fleshed out in the White House Briefing. Ahead of that we have the the daily callers and niger innis, and Tea Party Patriots jenny beth martin. On your perspective on this, and there is no good time obviously to can someone. In this case, a lot of people are seizing on the fact that the Russian Investigation was supposedly heating up, people making hay of it, so much so, some calling for special prosecutor, some calling for commission. This is on top of the senate and house investigations going on, all concurrently, what do you make of that . You know, people are going to complain no matter when President Trump had selected the time to fire comey. So i think that it is isnt a matter of timing. Now it is matter moving on to the next thing and not letting this become a distraction. Washington, d. C. Is really good at creating these bright shin any objects everyone pays attention to so they dont have to tackle big issues like tax reform, repealing obamacare and doing other hard work voters elect them to do. I will not be distracted bit. I dont think President Trump will either. Neil well, a lot of questions he got from lester holt that was nbc news interview i should point out, concern the whole comey situation where the president repeated that comey had told him and niger, this is for you, three times, that he was not subject of an investigation. That is the president saying the fbi director actually told him that. Lets assume thats true. Does that, that is not something the fbi director should be doing, is it . It really isnt. Not at all. And you know, for me, it is a very simple question, does the president of the United States have the Constitutional Authority to fire the fbi director . The answer is of course he does. As president of the United States exercised his authority the right way . And he has. Neil i dont doubt that. I dont doubt that, vince, worries me the added line president had couple days back, he echoed in the interview with lester holt, three times the guy told me this, the fbi director told me this. That is a little disconcerting. Where is it going . For sure. In james comeys case not hard to understand why he wanted to fire him or potentially fire him. James comey is not supposed to expose contents of investigations. Reason they have a predicate of this that they dont expose contents of investigations. It could be created a chaos and tried in the court of public opinion. People could come down on victims on those accused and shouldnt. Both in the case of Hillary Clinton, donald trump or his sort of orbit made allegations hey were looking into this without giving clear answers to the American Public what they concluded. That was a huge problem no matter who the target of the investigation was for the fbi. I think president probably made a right call as a result. Neil jenny, let me get back to myself fish interests market driven, regardless of the ins and outs of this soap opera with comey, insee less likelihood with the time line, repeal of tax cuts, fix or replace obamacare, whatever you want to do, it is not left or right argument for me. You need to get but i think this freezes things that should be done. Do you think i overworry . I think that given congresss past history and their ability to let things distract them, to keep business as usual, sure there is a reason to be worried but at the same time i know that people elected President Trump, given majority to the house and senate, republicans in both chambers because they do want to see the economy grow. They want to see taxes cut. They want to see obamacare he repealed, they want to get federal spending under control. It is up to us as citizens make sure we hold them accountable and not let them be distracted and not let them distract us from the work that needs to be done. Neil i hope youre right, that we get past that, niger, my filing, get back to it is reflected in markets, they feel that things get delayed. I dont think, for example, a tax cut can wait until 2018. Im not saying it cant be doingable but in Election Year that will be a to have do. If that gets pushed back will that be a problem for republican. I say dont underestimate the brillance of this president. Jenny is right about bright shiny objections. There is a possibility that the president new that that bright shiny object would be tossed into the water, mixing my metaphors here as chum to the piranhas, the adversarial press if you will. Meantime, behind the scenes, there is some real negotiations going on, and moving forward on trumpcare and on tax reform which does need to get done in advance of the 2018 elections. Neil vince, do you think there will be a special prosecutor, or should be or independent commission . You heard all the talk, that it is inevitable. What do you think . I dont think so. I think Republican Leadership seems to be fairly unified on stopping any effort to get to that point. And thus far, anyone who is arguing that a special prosecutor should be used, the arguments mainly consisted of lets do this because trump deserves it but the actual rationale for why the three known investigations into any sort of connection between russia and the United States, why those arent good enough has never been made. All those investigations seem to be running full team ahead. We havent heard much to suggest they are failing in their core mission. Neil all right, guys, i want to thank you all. Very good getting an update from you brainiacs. Meantime well hear from Sarah Huckabee sanders. She will do the honors. Sean spicer is in reserves and he has reserve duties. A lot of people saying Sarah Huckabee sanders is doing such a great job these might become her duties. Gy more after this. Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. 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You know Maxine Waters actually said if Hillary Clinton had fired james comey she would be okay with that, not with donald trump doing that. Kennedy here with us, that is all you need to know, right there. Thats it. Neil what do you think of that . It is, at least she is completely blatant with her hypocrisy. Neil absolutely which i admire. You want to say, thank thank, maxine. Neil up until then i wouldnt have known. Not at all. She gave an award this weekend at the mtv neil she was like a rock star, yeah. There was, it was like fight the power award and it was really dumb. Neil i get that reaction at the buyers conference. Like im nuts. She is wildly hypocritical. Here you go, if hillary does it, it is brave and heroic and she is fighting for justice and if President Trump does it is an impeachable offense. Neil he couldnt win on this one, right . The immediate suspicions, drips in nbc interview he was going to do this anyway, donald trump he saying that, maybe Sarah Huckabee sanders will detail that a little more. Yesterday the argument was the attorney general and the Deputy Attorney general presented the argument for canning the guy, and president acted after that. So the president isnt helping himself is what im saying. No. I think he should be completely forthright. He actually alluded to including with our very own maria bartiromo, she asked if he was going to keep the fbi director around, no, we will wait and see. There was pretty good sign there is some level of dissatisfaction. Neil if i am watching there is not a little of job kurt. Comey was completely emboldened, he was at a college in boston, you will see me around, im here for another six 1 2 years. Slow your roll, friend. It became so much about james comey. Neil slowly your role . Right. Neil youre so hip. What is said on street, neil, and my fingers are calloused being with the young. Neil i see it from prism of financiers, the last thing we want, neil, is this agenda. We might not flip over him personally or his style but we like what he wants to do. We like lower regulations. We like lower taxes. We like all of that, and this is jeopardized by that . No, this is a giant distraction shun since republicans in Congress Still very much have to tackle health care and tax reform. Those are two massive pillars. They have to neil health care alone could be months off. Exactly, if they try to get that done before they even start with tax reform, paul ryan says the white house has a plan and senate doesnt really, there is so much disagreement between the same party. That is issue theyre supposed to be really, really strong. Yes, this comey thing, think about what were dealing with domestically, things we hit on. Youve got syria, north korea, and troop bolstering potentially in afghanistan. Neil i had gary kasparov, the chess grandmasser. Do you play any chess. Not really. Restraining order. Neil i gave it up for lent and never went back. He said it was a mistake to meet with the foreign minister at all. I didnt think it was a big deal. I think trump signaling saying we have important business to do with russia. Neil all right. Okay. Sarah Huckabee Sanders after kennedy. Here we go. Another light crowd today. Good afternoon. First off before we get started, id like to bring up Homeland Security advisor tom bossert, to tell you about an executive order on cybersecurity the president just signed. He will take a few of your questions, and respectfully i ask that you keep your questions for him on the topic of the executive order, and dont worry, i will come back and answer all of the rest of your pressing questions as soon as he wraps up. With that i turn it over to tom. Thank you, sarah. Thank you very much for your time. Couple of things positive to report today. The first is that President Trump about an hour ago signed an executive order on cybersecurity, and that executive order among other things is going to keep his promise he made to the American People to keep america safe including in cyberspace. I would like to do a few things, i promise you we distribute the executive order, but if i could, i will preview the executive order for you, walk you through three primary sections, wave tops and take your questions. Among other things, at least as an observation for me i think the trend is going in the wrong direction in cyberspace and it is time to stop the trend and reverse it on behalf of the American People. Weve seen increasing attacks from allies, adversaries primarily, nation states but also nonnationstate actors. Sitting by and doing nothing is no longer an option. So President Trumps action today is very heartening one. There are three sections. Theyre in priority order in a sense. The First Priority for the president and for now our federal government is protecting our federal networks. I think it is important to start explaining we operate the federal networks on behalf of the American People and they often contain the americans people information around data. Not defending them is no longer an option. We seen past attacks succeeded and we need to do everything we can to prevent that from happening in the future. A few things on federal networks. We have practiced one thing and preached another. It is time for us now and president has directed his departments and agencies to implement the nist framework, nist reduction framework. It is something we asked the private is sector implement and not force upon ourselves from this point forward. Departments an agencies shall practice what we preach and implement the nist framework for Risk Management and risk reduction. Second of note point, in protecting our federal networks we spend a lot of time inordinate money protecting antiquated and outdated systems. We saw that with the opm hack and other things. This point forward president issued preference in federal procurement and i. T. For shared services. Move to the cloud to protect ourselves. Instead of fracturing our security posture. Third point id make is that the executive order directs all department and agency heads to continue key roles but also centralizes risk. So we view our federal i. T. As one Enterprise Network f we dont do so we wasnt adequately understand what risks exist and how to mitigate it. Number of thoughts on that. Among other things that is going to be a very difficult task. So modernizing is imperative for our security. But modernizing will require a lot of hard, good governance. Responsible for that today is president s american innovation, Technology Council, president s American Technology council will run that effort on behalf of the president here at at white house. We have great hope there will be efficiencies and security. Would note countries have taken two other three years what we came up with in two or three months. This is message we learned and doing it together we would like to encourage private sector folks to adopt. Point two in the executive order is our Critical Infrastructure Cyber Security effort. The president has directed the president s cabinet to begin the hard work of protecting our nations most Critical Infrastructures, utilities,al and health care systems, telecommunications networks. Directed them to identify additional measures to and secure our Critical Infrastructure. And he is continued to promote the message that doing nothing is no longer an option. So the executive order not only requires his departments and agencies to help the Critical Infrastructure operators and most important ones but to do it in proactive sense. Messages tilt toward action. Weve seen bipartisan studies, observation from me over last eight years, both parties. They made powerful recommendations. They have not been adopted for various reasons. This executive order adopts the best and brightest of those recommendations in my view. I will stop with those three and take questions. Two questions real quickly. Actually, if i could reporter brian. Brian. Go ahead. Reporter was russian hack in any responsible for impetus number two . I have talk to i. T. People putting stuff on cloud can be problematic as far as security. So what additional security measures would you apply to the cloud to make sure that it as not as risky as some i. T. People tell us it would be . Couple questions there. Let me say three things first. Third section of the executive order maybe i skipped over a moment ago, speaks two halves. Not only the need to develop the norms and inneroperable own Communication System that is the internet. United states invented internet and time to maintain our values on it but speaks to a deterrence policy which has long been overdue. The russians are not only adversary on internet around the russians are not the only people that operate in negative way on internet. Russians, chinese, other nation states are motivated to use cyber capacity and cyber tools to attack our people and governments and our data. That is no longer we can abide. We need to establish rules of the road on proper behavior on the internet and deter those that dont want to abide by those rules. The first question is no, it wasnt a russian motivated issue. It was a United States of america motivated issue. Reporter second question about the cloud and i. T. We dont move to shared services. 190 agencies trying to develop protections against advance collection efforts. That is not a wide roach. There will be a risk. Your question is there still risk . Yes. Im not here to promote that president created a executive order and created a cyber secure world in fortress usa that is not the case. If we dont have shared services well behind the eight ball a long time. Reporter thank you. Sitting around doing nothing, is it your contention the Obama Administration, that was its approach to cybersecurity, sitting around and doing nothing . Question one. Number two you talk about one Enterprise Network. Does that mean every system throughout the federal government under this executive order, ambition to make them all the same . Or protected in the same way . No. I will answer them in reverse order if i can. What we need to do is view the federal government as an enterprise as opposed to just viewing each department and agency as its own enterprise. Department of Homeland Security around secretary kelly will play a large, leading role in this effort implementing the president s executive order. Has an enterprise and the network covers 340,000 employees and their contractors and so forth. They are responsible. That secretary of each department and agency will remain responsible for securing those networks but we need to look at the federal government as an enterprize as well so we no longer look at opm, you can defend your opm network with money commensurate for opm responsibility. Opm had crown jewel information of all our information and background and security clearances. What we like to do is look at that, that is very highrisk, high cost for us to bear. Maybe should look at it enterprise and put more collectively information in protect them than we would otherwise put in opm looking at relative importance. Reporter [inaudible] not just their budget but what they do. Each agency has responsibility to protect our own networks and identified risk to the white house and president and look what they have done and most importantly risk theyre accepting and mitigating. There is lot of identified risk and identified and not remediated risk. That will have to come through centralized place. Israel and others adopt a centralized view of Risk Management and risk acceptance that is the answer to your question. The second question reporter doing nothing, previous administrations approach from your Vantage Point . No, i think that, i think that observation is that we have not done the basic block and tackling, right . Of thinking of the internet as something that the American People benefit from. What we have focused on federal i. T. Portion. A lot made in the lasted a administration, not nearly enough. Well change that. Looking at this from perspective deterrent strategy, to be honest, lasted a administration should have done that and had an obligation to do it and didnt. Reporter wondering if the Administration View what constitutes an act of war with regard, what kind of cyberattack might constitute an act of war. A whole lot well talk about what constitutes cyber attack and war and what is not war. The most important action well not draw a red line at cyber war at this point today. That is not within the direct scope of the executive order but it would violate the president s primary mission to not telegraph our punches. If somebody does something in the United States of america we cant tolerate well act. Reporter said that the secure internet so the internet for americans, americans use and enjoy. Well, the technical standards for most things on the internet are put together by Many International standards organizations and engineers and things like that, that often arent in the United States. Has there been any talk of outreach to these sorts of bodies to try and build in security into the next generation of protocols . Absolutely. The message here is not just protecting people of america. We have an America First perspective but idea of having likeminded people with similar viewpoint like our allies developing with us, the open, operable internet is something key to figuring out how we define what is and is not acceptable. We cant cut off the internet at our boards and expect it to operate in viable way. If there are good ideas coming out of germany well take them. If there are good ideas coming out of well take them as well. [shouting questions] reporter Technology Council there isnt much indication there will be significant Silicon Valley or tech leaders coming here. There have been reports president had a few phone calls with someone like Mark Zuckerberg. Can you enlighten us a bit . Who would we expect coming to the white house next month . Could Mark Zuckerberg work closely with the administration coming to that council . Let me go backwards, instead of telling you who the president did and didnt talk i would probably get that wrong. There is a lot to be learned from the private industry. That stuff needs to come into the white house in the appropriate way. We talk to technical leaders, some are business leaders. My point calling out the American Technology council they will have leadership role in modernizing federal i. T. That has a lot of reasonss right . There are fish senses and cost savings just beyond security. This executive order speaks to security of it. I would direct you to the American Technology council to look at the other efficiencies. As an example we heard numbers the federal government spends upwards 40,000 per many employee on their i. T. Service costs. That is so out of line with private industry that secretary ross and others have very easy time buying a cop that is poorly invested their dollars. I think you will see that innovation come from that group of leaders and thoughtful people. In terms of what you see over the next month i would say, i dont know how to answer that specifically but i would like to take the opportunity and opening before sarah pulls me to thank two or three people, one of them high on my list is mayor giuliani. Thank the advice he has given to me and president as we formulate this thinking. Thank representative mccaul. Thank a few other members of congress, representative radcliffe and herd, senator collins, mccain, senator byrd in the white house burr in the white house. People taken thought leadership in past legislation all the things we like and improved our cybersecurity last eight years. I dont want to be critical over things happened last eight years but i want to look forward time problem. [shouting questions] reporter former Obama Administration official who dealt with other countries and other entities in other countries, he said that there were tens of thousands of attempts to hack into Government Systems daily. Can you quantify it . Can you confirm or deny that . No. The answer is no is that we see that happen and we then start getting into a numbers game. What i think would be a better argument now, no the to cut off the question but it is a reasonable one, how we figure out better collective defense of federal it and Data Networks we operate. If we do it on individual attack basis were look at a wrong wayport port was this person correct, entities from around the world i would say this way without number, trend line is going in the wrong direction. We see additional attacks, additional numbers, additional volume. Occasionally additional successes that trouble us. That is the best way i can quantify that for you today. Youre welcome. Reporter can you say why the cybersecurity order was delayed . This would come out one day and have been a lot of talk about concern from Silicon Valley and tech leaders with the direction it was going in, so are those, do you have some sense of the kind of support that this order has or not from the tech world . One of those concerns, for example, arose when they read the voluntary call on the president s executive order today. That we reduce greatly the number in the United States. Thats going to require voluntary Cooperation Among all the different owners and operators of privatelyheld companies to Service Providers and manufacturers of goods. And those things are going to have to happen voluntarily. What the president calls for is the basis for that coordination without defining whos in and whos out, its a voluntary operation. But we know that they have the technical capacity if they have the will to come together on behalf of the American People and reduce those botbets dramatically. And the president s calling to do that. Hes asking Homeland Security and secretary of commerce to facilitate that. And what we thought we saw were reflexes of concern that there would be a compulsion, and i think thats something i can put to rest today