Economy. Thats certainly what the market believes. Theres no other way to explain this. Look, weve had sub par 3 gdp for ten straight years, a record for the united states. And the only thing that changed, weve had more of the same under mrs. Clinton if she was elected president and brought in her cabinet was donald trump started introducing a business Friendly Administration and business friendly cabinet, at least perceived that way by wall street. And theres historical precedence for this. Calvin coolidge came in, took government out in the 1920s, thats what created the boom. Ronald reagan did the exact same thing. And president clinton, whos been given credit for probably mistakenly for creating the internet boom, he was lucky that happened. But what he wasnt lucky about was in 1996 he created Small Business fairness act, which greatly cut regulation. And that attributed more to president clintons boom than the internet did. So, yes, i think the market looks at this, looks at history and says we should have a good economy going ahead. Gary b. , get government out of the way, cut some of the record regulations that the Obama Administration has put in, unleash hiring, unleash the economy. Exactly, dagen, you know, regulations i think firmly are the barnacles that are holding this economy back. They keep growing and growing. If you want the greatest job industry, growth industry, its go to dcnb, a government regulator, because youll join the other 277,000 people that regulate the economy. Agencies like the epa, department of energy, the s. E. C. , its costing our economy 100 billion a year. Let me give you two quick examples. You know that fluorescent light brouhaha were still going through . Those government regulations cost us 863 million a year to tell us what lights to have. The department of energy regulates home furnaces, or epa rather, home furnaces they regulate for crying out loud telling us how to heat our homes, that costs 46 million a year. You start to cut through this stuff youre going to start to see that ship bound up by these barnacles called the economy take off. More than 600 regulations, major regulations out of the obama white house, that is a record. It is about 800 billion in costs. About 2,300 for every american. No, its really outrageous the number of regulations that have been harming our economy and harming hard working americans. When you think about the regulations that are unleashed on the fossil fuel industry alone, the thousands and thousands of jobs that have been lost by coal miners because of obamas war on fossil fuels, were talking about hard working americans who are making great money, not minimum wage, great paying jobs in just that one industry alone for one example, and clearly we need to reduce regulation and unleash our fossil fuel industry to create more jobs. Jessica, as weve gotten more and more of these cabinet picks, record after record in the stock market. Its not just big stocks, its small stocks too. Well, i dont know that theres a direct correlation between the cabinet picks and the i think its more the idea of what a President Trump will be and what it will mean in general for business. Because this record of whats been happening with the market started from the minute that he was confirmed as president elect. And that was before he had made any cabinet picks. So i havent seen any direct correlations. And i think, yes, theres something to be said certainly for, you know, his wanting to change trade deals, to work on these things. But i think as we see these actually implemented and Going Forward, were going to have a fairly rocky market as Companies Start responding. So far things have been okay with carrier, but what happens when companies are facing, you know, we saw with boeing alone that their price dipped immediately upon trump saying he was not going to have the contract Going Forward to build a new air force one. So as these things happen and continue to create uncertainty, companies dont know are they going to be the next target, are they going to be forced to bring their jobs back or is that going to change how theyre investing, i think that will be the most interesting tell. Weve had virtually eight years of lawless making, the epa, jonas, the fact that could disappear is given stocks a lift. I think highest stokt return in history. Those three president s just mentioned all ended in crashes of epic proportions. Maybe periods of deregulation lead to euphoria takes markets to level so high they ultimately crash. Im going to say its a coincidence. Regulations in general do not exist to pump stock prices up, okay. Theyre trying to help lift people up and hopefully the good ones dont destroy companies. If you let Waste Management just dump everything in the river and ocean like old days, it would help their stock price, right . Doesnt mean its good to get rid of that regulation that prevents you from putting paint in the rivers. Youve had regulators overstepping, jonas. These regulations are held up in courts because, well, they look illegal. Theres a lot of regulations and some are bad. Doesnt mean all of them are bad. Doesnt mean getting rid of all them was going to be magically good for both people and stocks. Again, its pretty easy to make stock prices go up by getting rid of regulations, thats true. Doesnt mean everybodys welfare improves. The good regulations help everybody, even the Companies Like some regulations if it prevents destroying the environment, if it prevents competition in a bad way, prevents other companies. Im saying you have to look at each one individually. Some democrats vk Bashing Trump for picking wealthy ceos to serve in his cabinet. Lets just say he disagrees. Listen to this. And by the way, some of the people i put onto negotiate, youve been noticing are some of the most successful people in the world. And one newspaper criticized me, why cant they have people of modest means. Because i want people that made a fortune. Because now theyre negotiating with you. Okay. Yet rich is bad, john. Yeah. Look, if i want to learn how to hit a baseball, i dont want to talk to some professor whos never been in a batter box whos written a theory of baseball and has no practical experience. I want wade bogs to teach me how to hit a baseball. You look at Linda Mcmahon, i worked for linda, the wwe, linda started a Small Business on the verge of bankruptcy, mortgaged her own home with vince to create wrestle mania and she created a business thats worth 1. 5 billion, a global conglomerate. If you want somebody thats going to be head of the Small BusinessAdministration LikeLinda Mcmahon is, thats exactly who i want. Not somebody whos written some goofy theory about business that has no practical experience. Yeah, i want broke failures as the cabinet picks, gary b. Well, exactly. If you go back to the constitutional convention, the founding fathers, you go through them, there was a lot of common people, but the bulk of them were very successful, very rich, certainly compared to the common citizen then. George washington was very wealthy at the time. Thomas jefferson very wealthy. Ben franklin very, very successful, very wealthy, able to retire early. These are the kind of people they were the shining stars of our early democracy. I think what trump is hiring now are the shining stars of this new generation. Okay, you know what, yes, you want bright successful people. Trump might be more influenced by Financial Success than just being smart. And i will say, look, billionaires like Michael Bloomberg look out for interests of everybody yet know how to run a business and then theres rich people like the italian like silvio berl scone and doesnt always make for a good politician. Just a billionaire class looking out for their interest is also a flawed system. We saw kings and loyalty running the government. Theres nobody named sir or prince whos in the cabinet that we know of, jonas. So, thank you. Go ahead, jessica. I think thats actually an excellent point. I have no problem with it. I think most people have no problem with someone who, you know, has been successful and in the industry or within the business in a positive way whos now going to be coming in and working in a cabinet position. But when you have people that are sort of hand selected because they are wealthy and cronies and someone who for instance is, you know, up for secretary of education who has no Actual Experience in Public Education, who hasnt worked in the system, who hasnt gone to Public Education except fighting no, i think that is the concern. Jessica, i see trump bringing in wealthy individuals who bring a wealth of experience to the table. You need to bring in people who know what theyre doing and who know whats going on and how to handle things. Thats got to be the final word. Cavuto in business about 20 minutes from now. Creating a firestorm, this union boss telling me that he is taking issue with president elect trump taking credit for saving jobs at carrier. Now the president elect is firing back. Plus, liberal lawmakers out west passing a new ceo tax to combat what they say is income inequality. But are they really putting all american jobs and their pay in danger . Well see you at the bottom of the hour. Thanks, neil. We cant wait. But up here first, as congress squabbles over another spending bill, did president elect trump just find where he can cut tens of billions in spending on day one . O where will you find that perfect holiday gift . X marks the box helzberg diamonds will give you this xbox one s with your purchase of 999 more. Helzberg diamonds. Heres to love. Live from americas news headquarters, hello, im gregg jarrett. Congress narrowly avoiding a Government Shutdown last night after Senate Democrats caved on a bill to fund the government through april of next year. That measure passing with less than an hour to go before the midnight deadline. Red state democrats were trying to tack on Health Care Benefits for retired coal miners, ultimately that attempt failed. Also overnight, white house deploying an additional 200 special forces to help fight isis in syria. Defense secretary Ash Carter Says the troops will help train and equip local fighters in the push to retake the militants de facto capital of raqqah. This latest increase will bring the total number of american troops on the ground in syria to roughly 500. Im gregg jarrett, now back to bulls bears. And for all your headlines be sure to log onto foxnews. Com. Congress battling over another spending bill this week as a new report claims pentagon officials buried a study exposing 125 billion of wasteful spending. Gary b. , you saw this as a great place for our next president to start cutting on day one. Oh, my gosh, dagen, it would be so easy. Like we said in the first block, the greatest government job is a government job, or the greatest job to have is a government job because every department keeps growing. Just two quick examples, in 1935 the government started a rural electrify kags service to bring electricity to the heartland. I think after 80 years weve kind of accomplished that but the department lives on at the tune of 9. 6 billion a year. We have sugar subsidies, sugar subsidies that put a minimum of double the average price costs us 1. 2 billion a year. Just take an axe to these programs and youd save enough to probably cure the debt in just a few years. This report that came out is just indicative of the level of waste in agency after agency, department after department. Its deplorable. Its no secret that government wastes money. Thats the only thing that governments really good at doing is wasting our hard earned tax dollars. But i hate to see and imagine what the real waste and abuse that is going on across the board in all of the agencies. I think donald trump is assembling a team of experienced people who will help cut the wasteful spending, get our country back on track, reduce the debt, reduce the spending. Thats what our country really needs today to turn our economy around. And to get people employed. That is really important. Yeah, and speaking of employed, jonas, this amount of money 125 billion would employ 50 brigades. Its not chump change, ill tell you, garys been on the defense waste more than anybody in the show for a long time. I disagree with how all the departments are the same because ultimately whats going on at the pentagon, whats going on say Social Security peales in comparison. Theres actual infrastructure bureaucracy at the pentagon hiring people, contractors, building planes, listening to presentations, getting shows, theres too many employees there for there not to be massive amounts of waste. A lot of programs are just shuffling money around. Theres waste there as well. But dont think across the board its always been the pentagon, always been the 99 hammers and toilet seats. This story goes back forever and thats where you need someone with business experience to go in and run it like a business and not just this thing no one can touch because theyre getting jobs in your district, et cetera, et cetera. Jessica, a businessman and not a bureaucrat, imagine that . Well, i mean, thats all well and good, but one of the main premises trump ran on was reinvesting in defense. And how much our defense has been weakened. And, yes, there is fraud and abuse and waste within Government Agencies like there are with any large even corporations. These are things that have to be overseen. But to say theres a general all Government Agencies are bad or dont help us and that all they do is waste is not true. If trump can come in and continue to change things, i mean thrks is now the military Industrial Complex thats been going on as jonas just said for decades and decades and decades and make some changes. And still get the armor and the cars and helmets that our military who are serving need. Right. And get rid of these other problems, thats the main problem. John, its about reallocation of money. You have a Logistics Department in defense thats bigger than u. P. S. So, again, its where do you want to spend that money. Yeah. You have a Logistics Department thats 457,000 people, bigger than what you mentioned u. P. S. You have a Million People that support 1. 3 million soldiers, but its not necessarily the pentagons fault. Its congress fault. They are the problem. Look at the m1 tank. General odiieieier says paus supply chains and these congressional districts, were still bipd e building tanks. Thats not the pentagons fault. Thats crooks in d. C. In our congress that are trying to get reelected that are doing things to create jobs for no reason. Thank you, john. Thanks to everybody. Cashin in just over an hour from now. Eric, what do you guys have coming up . Hi, dagen, our next president taking on more companies. This time boeing over the cost of the new air force one. The media saying its scaring corporate america, but is that exactly what we need in america . Plus, democrat lawmakers demanding trump pay for his own security at his new york residence. So why didnt they complain about the security at the Vice President joe bidens private home . Cashin in, see you at 11 30. Thanks, eric. Well be watching. First, new spending bill offering 300 million to aid refugees, but on one condition, they cant come to the u. S. Is that fair . A fair and balanced debate next. Coming up, house green lighting 300 million to help refugees by only if they stay out of the u. S. Plus, populist wave sweeping across italy a protect our country from terrorism, we will suspend immigration from regions where it cannot be safely processed or vetted. Our next president still promising to block refugees from places we cant completely vet. And now congress is authoring 300 million to help the refugee crisis with one major caveat, that money cannot be used to bring refugees to the united states. Deneen, is this a good way to help them over there while protecting us here . Listen, we have a refugee crisis on hand, but we also have a National Security crisis here in our country. I say americans should be taken care of first and foremost. John. Yes. Look, were talking about flying 10,000 refugees over here. The money well spent when youre talking about actually helping people. Instead of going over there and getting them here and vetting them, its taking that money we can help a multiple of that number. Theres about 11 million to 12 million displaced homeless in syria and helping with refugee camps and migration into other parts of europe, well help so many more people and so much more economical beneficial. Gary b. I think its flushing 300 million down the toilet. If we dont want terrorists to come, lets use the money to strengthen our borders, to strengthen our intelligence. Normally with these things basically what youre doing is flying over syria with bucket loads of money, letting it drop and go, boy, i hope that plan works out. Thats the cost benefit analysis, im betting the state department goes through this. Its a complete waste of money in my opinion. But, jessica, we are a benevolent society. Were a benevolent nation and thats why we do this. Well, we have responsibility on a global level we are the leaders of the world. And we do outreach programs. We have since even after world war i, world war ii, we particularly help refugees in war torn area conflicts that we are involved in as well. The thing is that sadly i think this is another one of those instances where this money would have been spent anyway, they just put in this language to say, oh, its not going to bring these refugees over. But that was never the original intention of the money. I dont think this is where the money was going. Its sort of one of those Things Congress does to make it look like theyre doing something that theyre not. If you have an existential threat like hitler taking over, you have to take in refugees, certainly more than we did in world war ii, but if youre looking for the bang for your most buck, not what feels better for your people, dollars will do better helping people in these regions. Thanks to you all for joining us today. If youre busting your Holiday Spending budget, youre not alone. More americans say theyre doing it. Now get the gift to help pay for all those gifts, and then some. Predictions, gary b. , go. Dagen, after the italian referendum, people are worried about italy. I am not. Buy ewi, the etf that attracts italian companies, up in the next 12 months. John. Home depot, i think its up 20 in a year. Jonas. Shoppers say theyre going to spend more money than last year which means no coal in stockings and unfortunately no gold because trump rooted the gold bubble. Up 30 in a year. Ill take some gold though. Neil is now. Well, its the interview that appears to be creating a fire dlmz storm and you saw it first on fox business network. So not the 1,100 that donald trump mentioned, you say its more like 800 in total . Its 800. Thats what the figure is. Donald trump and governor pence are taking credit for 350 jobs that are research and Development Jobs that were staying here in indianapolis from the start. All right. That was Carrier Union boss chuck jones claiming that president elect trump is taking credit for saving jobs at carrier that were never leaving in the first place. Then donald trump firing back telling jones he ought