Transcripts For FBC Varney Company 20170628

The media loves this. The New York Times says Party Fissures have been exposed in an embarrassing setback for republicans, end quote. And here is a dire warning from the conservatives, if g. O. P. Senators blow this, say hello to Single Payer Health care. I repeat, this is not good news. However, yet again, political paralysis has not spilled over to the markets. The modest gain for the dow expected right there at the opening bell today. But the markets are getting nervous. And an another 100 point drop for the dow yesterday, all the big five Technology Stocks took a hit yesterday and there were modest rebound today, but thats not much. A modest rebound. Wait, theres more. Gas down again, see that smile . The white house calls out cnn and sarah palin sues the New York Times. Big day for politics and for your money. Varney company is about to begin. Now, the headline there was the collapse of venezuela and, yes, its really in crisis. Look at this. The countrys president maduro claims that helicopter dropped grenades on venezuelas Supreme Court. Hes calling that a terror attack. Elizabeth, as in emack, venezuela is on the brink of civil bar. Liz and this is coming out now. Maduro, the leader of the country, what we cant do with votes we will do with weapons. So this looks like imminent civil war. A stolen police helicopter, possibly a rogue officer, say, yes, he shot grenades at the Supreme Court building and interior ministry. No one was hurt. So far in three months of unrest, nearly 80 people dead and thousands injured and National Guard detained 400 people within the National Assembly including 20 senators. So this is deeply spiraling out of control now. Stuart well said, lizzie, satisfies exactly whats happening. The futures, where are we opening . Were opening on the upside. Down nearly 100 and well bounce back 40odd points of the dow industrials at the opening bell today. Look at the big five companies. This is the premarket quote where theyre trading at now. All of them a little higher than yesterdays close. The price of oil rallied since hitting a 10month low last week and this month were holding at 44 a barrel. Here is the good news. Gas prices keep on falling, down another penny overnight. Were at 2. 24 National Average and now there are five states below 2 a bal. South carolina, oake, mississippi, now missouri. Ashley more, baby. Stuart more and ill be right. Cheap gas, here it is. Diane sent in a picture from buford, georgia. 1. 97. Thats the great state of georgia. Driving down there to fill up. [laughter] now lets get serious. Stop laughing here is my opinion on health care, and the Republican Party. I Say Something on health care is better than nothing. Get an agreement, if you dont, the democrats will take over and give us obamacare on steroids. Thats my opinion. Liz peek has to bear the brunt of this opinion. Im going to stick it right at her. Give us something rather than nothing. Where is the patience and willingness to work through the system . I dont really get it, that rand paul is sort of like all or nothing. Its neither going to be repeal obamacare totally, or he is basically not going to back this bill. His state went very profoundly for donald trump. I dont really see how he doesnt understand that this is a blow to the trump white house, the gaen agenda and that said, Mitch Mcconnell has some to buy votes for the bill. The cbo scored it saving a lot of money from terms in future outlays and he can go back to the conservatives and offer them things they would like and offer things to Susan Collins and the moderates that they would like, like better tax credits, et cetera. Its going to come down to money unless you have these people like ted cruz, rand paul, mike lee, who are so dug in on perfection, that theyre not willing to compromise. And i think that would be a huge blow to the Republican Party. Stuart handicap it. Hold on a second. Yesterday, we did this. Liz was 6040, yes, it passes. Ashley, 7030, yes, it passes. Liz peak. Im 7030. I think the alternative is incomprehensible and isnt acceptable. Liz look at this, we had 21 senators according to the wall street journal on the republican side, in states where medicaid grew, the number of medicaid recipients, that population grew. That 188 billion could be used to expand medicaid or do more for the Opioid Crisis or expand Health Savings accounts. Watch the wheeling and dealing, the sausage making is on blitz mode. Stuart do we have that watch that. Liz we dont have to. Stuart 6040, 7030. 7030. Im 7030. Stuart this is a case, sarah palin suing the New York Times for defamation. She claims a recent editorial falsely portrayed her as responsible for inciting the 2011 shooting of Gabby Giffords. Judge napolitano is here. Does sarah palin have a case . You know, i normally would say no because shes a public figure and the high, very high bar for a public figure to prevail is that she must show that the New York Times was reckless in its concern for the truth or was aware of a falsehood and published it anyway. She has a case. Because she actually has emails from the New York Times in which they recognize that some of the things that they said about her were false. But yet, they were obliquely repeated anyway. Stuart so they knowingly repeated a falsehood. Yes, and no. She can make that argument to the court. She will, what we say, survive a motion, meaning if they dont settle this case shes going to get to a jury. This goes back to when sarah palin was had a pac and identified certain Congressional Democrats as targets of the pac, and they improperly and crudely put a bulls eye over the congressional district. One of those congressional districts was Gabby Giffords who was merely murdered by this crazy person who killed a bunch of others, including a child and a federal judge. At the time the New York Times blamed sarah palin for inciting the violence that resulted in gabby griff fords attack by using the crosshair logo. They reiterated that just two weeks ago. Stuart thats the problem. Thats the basis for the lawsuit and reiterated after a lot of coming and going, hemming and hawing, is it right or isnt it right . Shes got a case. Stuart im going to do an editorial, once the gft gives a benefit, its ver virtually impossible to take it away. I fully agree with you. Barack obama succeeded establishing as a basic premise the obligation of the federal government to provide for Health Care Insurance or coverage that was never an assumed obligation by the federal government before he was president. Now very few exceptions. Rand paul, mike lee, tom massey, very, very few reject that premise, even staunch conservative republicans are afraid to confront the electorate without some Christmas Tree ornament to give them. Stuart but if you did confront the electorate and say were taking this away. You wouldnt have a vote. Youd be run out of the office. Stuart if you wouldnt have the vote, you dont have an agreement, you have obamacare and in come the democrats and give you obamacare. I reluctantly agree with you. Stuart the dentist visit is over. What about the novacaine wearing off. Stuart lets move on. Video from britain, this looks like terror, a pedestrian hit by a city bus, shatters the buss wind shield. Look at that, look at that, look at that that looks like towerror, its not. Ashley guess what he does . He gets up and goes to the pub. Like any good englishman would. [laughter] isnt that amazing . Hold on a second, minor injuries for the gentleman. The driver of the bus has been taken off the road well be pleased to hear. Joined the guy in the pub. [laughter] facebook, two big stories, Mark Zuckerberg says facebook now have 2 billion monthly users. About a quarter of the worlds population. The second one, made a deal to stream more than a dozen matches from europes top soccer tournaments. The european cup, actually. Ashley the big one. Stuart theyre going to stream it on facebook, can you believe that . Big. Stuart that is big, youre right there, son. For the budget crisis in illinois, its so bad that the state is suspending sales of some lotto tickets. They dont have the cash to pay the winners. Oh. Stuart another big hack attack hitting agents all across the world. And theyve hacked files saved on computers. They tell the victims pay up if you want it back. Thats called blackmail. Senator rand paul not on board. Will he be the senator who votes no and kills the whole thing . Ill ask him. More varney in a moment. Can m. 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And it comes from a conservative. Look at this, an opinion piece from hugh huey, a conservative and its in todays Washington Post. It reads, and i quote, if g. O. P. Senators blow this, say hello to Single Payer Health care. Thats a clear call to the Republican Party, get something done, agree or else. And attached to the article is a picture of senator rand paul. One of the holdouts. Senator paul is our guest this morning. Good morning, senator, good to have you with us, sir. Good morning. Stuart watching the news. I think that something, even an imperfect bill, is better than nothing. What say you, sir . You know, i think when you look at the bill, you have to measure it and analyze and say is it a repeal or a keep . Is it keeping obamacare or repealing it, so, you know, if its keeping it how could i possibly be for keeping obamacare, it keeps most of the subsidies, most of the regulations and it adds a new federal Insurance Company blalout of 130 billion dollars. Tell me what part of that is conservative. Stuart okay, ill tell you whats good much it. It gets rid of the taxes 21 of 22 theyre gone. It kids rid of the individual mandate, gives us a degree of freedom, what coverage we wants and who pays for it and gets rid of the employer mandate and takes an enormous restraint off the labor market, that is something. I guess problem isnt that better than nothing, senator . The problem is a lot of people are going to ask, myself included, is it honest to get rid of the taxes and continue the Medicaid Expansion forever . The Medicaid Expansion never goes away. Realize when we voted 60 times to repeal obamacare, we voted to gradually end the subsidies and gradually end the Medicaid Expansion over a twoyear period. That was our position over a year ago, now the position is were keeping the subsidies forever. A brand new bailout for Insurance Companies. Im horrified. The Insurance Companies make 15 billion a year and were going to give them 130 billion of taxpayer money . Its obscene. What kind of a conservative notion is that . We could lower the price of cars, also, and have a car stabilization fund, a college stabilization fund, an iphone stabilization fund. Its insane, its obscene to say were going to give Rich Companies taxpayer money. Stuart if you push it, and it becomes more conservative, you lose the moderates and you dont have 50 votes. Well, we could remind the moderates they pledged to repeal obamacare, root and branch. And did remind them they said that about a million times. Stuart you wont have to votes. Well, well see. You wont have the votes. No, thats no, thats the question. Stuart the question will be, is Something Better than nothing. If moderates want to go home to their state and say they kept obamacare, so be it. Conservatives will go hole and say we pledge today repeal it and it wont repealed. I met with the president and told him im very much open to making the bill better and i think he is also. Senate leadership has had no communication with any of us opposed to so much of the keeping of obamacare. Stuart if the Republican Party cannot agree after all the negotiating, you cant agree, then we go back to where we are now, which is a collapsing obamacare system, Mitch Mcconnell goes to the democrats and he needs their help and youll get obamacare on steroids. I keep coming back to it. Something is better than nothing. I think youre presuming senate leadership, wants to really keep obamacare and i dont think thats true. I think theyre working with a mix of people, but i dont really cast aspersions on the leadership saying theyre going to go to democrats and keep obamacare. I dont think thats true at all. Stuart okay. I do think that health care is quite complicated and theres a great danger to owning it without fixing it. And so, i think that if you pass something thats not going to work, and we come up in about a year and premiums are rising at 25, 30 , still the Insurance Companies are dropping out of the individual market, i think what youre going to find, people will say why did we give republicans control of Congress Since they didnt know what they were doing. Stuart somewhere down the road there will be a vote and when that vote will be counted will you be the senator that votes no and kills the whole thing . I would be the senator that would vote against keeping obamacare. The other senators can explain why they vote to keep obamacare. Im not voting to keep it. Theres going to have to be a repeal bill. This is what i pledged to the American People and conservatives pledged. If people go back on their word and keep obamacare, let them go home and explain it. Stuart senator rand paul, very much a man in the news. Thank you, sir. Well be back. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Ive spent my life planting a sizesix, nonslip shoe into that door. On this side, i want my customers to relax and enjoy themselves. But these days its phones before forks. They want wifi out here. But behind that door, i need a private connection for my business. Wifi pro from comcast business. Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. Well, if youve been watching this program you know theres a good deal of political turmoil in d. C. , but its not affecting the markets this morning. Look at that, lefthand side of the screen. Were going up at the opening bell. Look at this, latest big cyber attack. Companies all over the world have been hit. Second attack in less than two months. Liz peek with us. Number one, theres no way to stop this. Number two, we dont know who is doing it. That makes it harder for sure. Stuart and next topic. But really, seriously, the problem is, that it has to come from the top, right . Our government has been lazy and careless about cyber intrusions for years. I mean, going back to the beginning of the obama time in office. He hired a cyber czar whose first words out of his mouth was we have no cyber problem. This is a problem and the truth is the government doesnt change pass words. They dont do anything. Stuart quite an enterprise, the companies. I agree, but they have tried to work with private enterprise and companies turn around and say, hey, youre not secure, how can we possibly turn our data over to you. This is a fact. And its one of the reasons we havent had a bigger cyber solution. Liz to lizs point, the trump found agencies in the government are working on y2k. What about the Cyber Attacks . We talk a lot about financial crises on this program. Here is one for you, illinois the state has 800 Million Dollar worth of interest on unpaid bills. And now, theyve suspended all powerball and Mega Millions sales. Ashley yeah, that takes effect saturday so the last ticket gets sold tonight at 9 p. M. On the powerball, Mega Millions on friday. They are just in, so badly off, they cant pay their own utility bill in springfield. Stuart the capital of the state. Isnt that supposed to be a money making venture selling lottery tickets, that doesnt make sense to me. Liz unbelievable. Stuart illinois faces this crisis because of unfunded pension liability to workers. Ashley estimated 250 billion. Liz with health in there, yes. Stuart liz, isnt connecticut in somewhat the same position. The same boat. I think over the next ten years well see a lot of blue states, in particular, facing exactly the same type of problems, unfunded pension liabilities and Health Liabilities that will cost current state residents tremendous amounts of money and pain. Stuart on that note. And happiness. Stuart check out the market and how its going to open this morning. The financial crises all over the place, and political turmoil. Well be up 30odd points. Were going to take you to wall street on the opening bell and the modest rally after this. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. All right. Weve got what, 25 seconds to go before we ring that opening bell. And well start trading. Bear in mind, please, the dow yesterday was down close to 100 points and the big hits were taken by those five Fabulous Technology companies, okay . It was down. The fab five were down and in three seconds well see whats going to happen as of this wednesday morning. Here we go, 9 30 off we go. Change that one, please. Were up 68 points from the getgo. A solid move up. 72, 77, 84, 85. 21,400 there you have it. 93. Its like a horse race here. Futures did not tell us that. Ashley no. Is there something we dont know . Something happen. Stuart i dont know, there you have it. Were up 90. 27 of the dow 28 of the dow 30 are in the green, that means they are up. And how about the nasdaq . Huge hit taken yesterday. Ashley yes. Stuart what about the nasdaq, up nearly 1 2 a percentage point. Thats not a bad recovery. Up 26. Now look at the big five technology companies, where are they now . Big declines yesterday for every single one of the five. This morning, a fractional move up for facebook, amazons down. Microsoft is down, alphabet up, apple, thats not much of a rebound. And by the way, the dow industrials are now up 105. Yesterdays loss wiped out. Thats how were starting. Ashley in one minute. Stuart Cyber Security stocks, down yesterday following the big cyber attack. I guess people thought, well, you cant do much about it so were selling your stock. A modest rebound now. How about the health insurers. Remember, please, the senate delayed a vote on the g. O. P. Health reform bill. All of them are up fractionally this morning. Theyll think, molina is down a fraction, not Much Movement in the Health Insurance business now. Who is going to help me get through this, liz macdonald, ashley webster, elizabeth peek stays with us and shah gilani. Ive got a bone to pick with you, galani. Ashley oh. Stuart were about to see the second or third leg up for the dow industrials. Where is it . Its coming. Stuart so is christmas. Okay. Thats a great analogy. Kind of like christmas, there are presents under the tree, they havent been opened. If we ever get anything in tax reform, even deregulation, that would be a plus for the market. The market is held up, its gone up in spite of everything, the disappointments in washington. It wants to get higher. Stuart youre sticking with your prediction and you made it many, many times. That doesnt mean that we cant have pullbacks. Investors want it take profits if theyre nervous. Something like Cyber Attacks could have more profit taking. Generally speaking, the markets want to go and they will go up. Stuart were at 21,400, thats where we are. Check again, the bick name Technology Stocks, all of them were down big, this morning theyve come back and not that much. Alphabet is down more. Alphabet hit 1,000 a share and now its at 933, 934. Thats what youve got for the big tech companies. I want to bring you news, first of all, on facebook, very much in the news this morning. Number one, the news is that zuckerberg now says theyve got two billion monthly users, and, wait for it, facebook will live stream matches from europes top soccer tournament. Its called the Champions League. This is part of a new deal with fox sports. Ash, back me up here, thats a big deal. Ashley the biggest soccer tournament in the world because its the best teams in the european leagues going head to head and you have the worlds best players in it. Generally tremendous money, great viewership and a huge get for facebook. Stuart and streamed. Liz ash is totally right. Stuart of course hes right, hes talking soccer. [laughter] look at the ad revenue coming in for facebook. Twothirds now is from video. Its from streaming. Its more than doubled over the last year or so, 2015. Active users up 17 year over year, huge growth. The giant is giant scale and still growing. Stuart youve always liked facebook. The best social Media Company bar none. Stuart youd buy it at 151. Actually you would, its scary up here, but its been scary all the way up. Every time i look at it its scary, but keeps going higher. Stuart is it another amazon . Oh, yes, absolutely, yes. Thats why the tech groups continue to lead this market. When you have a setback, people are going to come in and buy the stocks because theyre definable opportunities for growth. Stuart thats the growth. Thats the point, isnt it . Youve got an extra 17 daily users. Active daily users. Stuart up 17 in one year and a quarter of the worlds population checking at least once a month. Thats not bad. Amazing. Stuart 151 on facebook as we speak. Next case, apple. One analyst, just one of them says apple is going to sell, the number on your screen, 241. 5 million iphones in the 12months following release of iphone 8, following its launch. That will be a new record for apple. Liz, your comment. Liz you sell like 2 million a year. Thats kind of optimistic. They may have wireless charging, a glass back to it, a virtual touch button and augmented reality for the camera. I dont know if they hit that number, but it could be a hit. Ashley one people are waiting for, the first significant update in three years. A lot of people havent been upgrading waiting for this moment. Exactly why the sales will be very strong. People are holding back, replacing their phone until they see what the new one looks like and so theres a lot of pentup demand and by the way, else is a right now are not very good so its kind of pushed forward. Stuart you love facebook. Do you love apple. We own and love it. We are never going to sell that. Some point theres going to be a pullback on apple and thats a chance for anybody that doesnt own it to buy. This cycle with the iphone 8 i think the stock will make new highs and 20 higher just on iphone 8. Stuart what a day this is, i tell you. Check the big board, where are we . Were up 110 points. The dow is back to 21,420. Trying to do the math. Only 120 points away from the alltime record high. Not bad. With all of this is going on in washington, weve got that there and this here, its hard to explain. Where is the price of oil this morning . I tell you right now its at 44 per barrel. Here is the great news of the day, gas continues to fall, one cent per gallon per day. Ill take it right as we go into the driving season. Its actually a very big deal there. Stuart its a 12year low for price of gas on july the 4th holiday. 12year low, i will take it. Individual stocks, kb homes profits better than expected. Its up. General mills better profits than expected that stock is up 2 1 2 . Monsanto, profits better than expected on wall street, its up 1 2 percentage point, 117 monsanto. Next case, i keep saying that, blue apron offers shares to the public for the first time tomorrow. Now this, the company has drastically lowered the target price of which it will go off. How much is the reduction . Theyre expecting 15 to 17 range and they repriced it as of this morning between 10 and 11. Thats a huge drop. Stuart why . Part of it is the amazon effect. Amazon buying whole foods, theyre in the space and other competition there. Theyre losing money, theyve never made money, blue apron doesnt make money and the costs of the users of the service has gone up. Ashley its an interesting stat, more than 50 , over 50 of people who subscribe to these Meal Kit Services cancel their subscriptions within the first six months. You offer the discounts and freebies and then i just canceled mine. Ashley there you go. Stuart shah gilani cooks . A revelation. Liz thats why blue aprons marketing costs have nearly tripled over the last couple of years. To ashs point, people are canceling. Stuart i dont remember a priss cut like that, liz. Thats the last thing the Company Wants to do as it issues new stock, lowering the offering. Stuart no profit. Liz since 2014 no profit. Revenues doubled and customers theyre trying to value the company at what. Liz they were going to raise more than 3 billion. They were estimating 5, 10 million, and now below 300 million and worst of all possible business models, as you get bigger, you lose more money. That is kind of whats happening. Its not good. Stuart watch out, sports fans, here comes blue apron. The retail ice gauge. And auto is cutting jobs. Anything more on this. Ashley as of february they had 74,000 workers, so 400 know the great for them, but its not a huge cut, but points to the direction that you know, the retailers are going. 5,000 stores, youre going to have to cut back. And keep the stores open, but at some point youre going to have to cut back. Part of the retail ice age. The stock has been in a bit of a freefall. Stuart i want to deal with the secyber attack. Im guessing the market said, hey, weve got another attack and you cant do to anything about it. Normally something happens, they usually jumps up. Its unusual, it may be the reason. Stuart if you cant stop these attacks, then the Cyber Security companies are they held liable for Something Like this . If they own some of the products and they get hacked anyway or someone actually, i think it was a piece of software that this virus is attached to or that this opening was attached to. Maybe thats a problem, too. Stuart a modest bounceback today for Cyber Security stocks. Its 9 40, were ten minutes in the trading session and this time every day i have to thank our guests very much and show them the door. [laughter] and toss them. Stuart you were great. Shah gilani, youre all right. Thank you very much indeed. Checking the big board, a gain of almost 100 points, 98 to be precise, look at the level, 21,408. A new way to get you threw security quicker, a new hightech 3d bag scanners, well tell you how they work. White house Deputy Press Secretary Sarah Huckabee sanders blasting the liberal meeting yesterday at the press briefing, a Fiery Exchange there. Well show it to you after this. All right. Were back to almost 100 point gain. 21,406 is where we are. I want more on the American Airlines plan to get you through security faster, scanning the bags, i believe. Nicole, give me the pull story, please. Nicole the full technical term on this one is computed tomography. Basically a ct scan of your bag. You want to bring your liquids, your gel, your laptops in the years to come onto the plane. This may be the solution. Right now, we know that American Airlines is purchasing eight machines, 6 million from and analogic. Theyre testing them in phoenix. And this test will see and show whether or not this can actually work. In years past they had a difficult time with a similar type of this type of machine because it was very large, very costly and used an enormous amount of power, but now, as technology has blossomed, stuart, this may be the wave of the future. Laptops are banned from several countries travelling to the United States. So, this should be something exciting for the future for travelers. Learn Airlines Stocks is up a little bit. Thats good news. Nicole, thank you very much indeed. I have many so temporary beach front property for sale. I stress temporary. Okay . A new island has formed off the coast of North Carolina, its about a mile long, three football fields wide and experts say its not that unusual for patches of land to emerge and quickly subside because of the rough waters. Ill take a piece of that. [laughter] for about six months. They say the land will almost certainly be underwater again in about a year, but we thought wed show it to you in case youre interested. Los angeles tallest sigh scraper west of the mississippi is wiltshire, 73 stories, a rooftop bar which claims the title of the highest open air bar in the entire western hemisphere, l. A. , california. Deputy press secretary Sarah Huckabee sanders slammed the media and fake news, thats what she called fake news during a press briefing yesterday. Roll tape. If the media cant be trusted to report the news then thats a dangerous place for america. Any one of us, are replaceable and any one of us, if we dont get a right, the audience has the opportunity to turn the channel or not read us. I think you have been elected to serve for four years at least, theres no option other than that. Were here to ask you questions. Right. Youre here to provide the answers and what you just said was inflammatory. I disagree completely, first of all, i think if anything has been inflamed, its the dishonesty that often takes place by the news media. And i think it is outrageous for you to accuse me of inflaming a story when i was simply trying to respond to his question. Stuart lets get more on this. Fox news contributor mercedes schlapp. Neither side is backing down. This is going on for the next four years. Absolutely, this is like world war iii of the media versus donald trump. And i have to tell you, emotions are high on both sides and theres this great event that happens every year in washington called the white house correspondents dinner, which i attended in a small hidden table there and let me tell you, media and those media elites, they are pumped up, they have a very narrative that a specific narrative theyre trying to push, comparing donald trump to president richard nixon, talking about impeachment. This is the mindset of many of those sort in the Mainstream Media and i think its very problematic. I think when youre seeing the harvard study that came out basically saying that cnns coverage of trump is negative 93 of the coverage is negative in regards to donald trump, its very troubling. You have to ask yourself. Where is the objectivity in this process . I find it unwatchable, mercedes. Unwatchable. I was a founder of cnn myself and lou dobbs way back men, founders, and look whats happened to cnn. I cant watch it. Its coming from the top down. You have the top media executives at cnn very much pushing the story, especially on the russiatrump collusion. Its where they spend the majority of their time and the Research Center came out with the study basically saying that most, youre talking over 50 of the News Coverage is on the russiatrump, possible collusion, which is as we know is not a story. I think for the american viewer out there, its frustrating. Stuart yes, it is. The local communities say i want to talk about jobs. I want to talk about how i get Better Health care. And the focus has been on the russia story and creating these, in many cases, reports that arent accurate. Stuart mercedes, ive got to break in for a second because you have frequently told us that i should chill out. You know, ive been pounding the table and im still saying it, still pounding the table, im saying on Health Care Reform, something, anything is better than nothing. And it looks to me at this moment like were going to get nothing. Well, guess what . I think you and Mitch Mcconnell actually could agree. I think he realizes that the stakes are high, that at this point they really need to get something done and Mitch Mcconnell is betting on his caucus. Hes betting on figuring out a way to get the conservatives and moderates in line. Stuart he hasnt got rand paul. He wont get rand paul. Stuart he was on the program 40 minutes ago and i said when push comes to shove when votes are counted are you going to be the senator who says no and kills the whole thing . He responded said, i will not vote in favor unless its the full repeal of obamacare. Right. So rand paul is living in la la land because we know we cant have the full repeal of obamacare, based on the frame work that we have in front of us a limited frame work. Talking budget reconciliation, were talking you cant make significant legislative changes because youd guess to what, pass a law. What do you need to pass a law 60 votes. The republicans dont have it. And phase two, secretary tom price would have authority to make Administrative Changes as well to obamacare. Unfortunately, while we cant make a full repeal you could ask for Better Options in terms of our health care. They are providing states nor flexibility, more funding and they need to figure out a way to slow the growth of medicaid. I mean, seriously, stuart, are you at a point that medicaid is the Gold Standard for americans . Thats where they want to end up . Im pleased to see that mercedes is starting to pound the table like Stuart Varney. Youve got to chill out. Come on. I dont know if i can. Im becoming Stuart Varney in my own way. Stuart mercedes thank you very much. Thank you. Stuart check that dow 30, the state of the market, 28 in the green, two in the red and the dow is up 93. Two families blaming the suicides of their children on a hit Netflix Series. Details on that after this. You realize the smartest investing idea, isnt just what you invest in, but who you invest with. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Well, this is just coming at us. President trumps going after amazon, here is the tweet. The hash tag amazon Washington Post sometimes referred to as the guardian of amazon, not paying internet taxes, which they should. Is fake news. Jeff bezos owns a big chunk of amazon, he owns the Washington Post, principal opponent of President Trump and now President Trump is responding and the stock is down, six bucks lower, 969 on amazon. Two families in california blame the popular Netflix Series 13 reasons why for the suicide of two teens. Tracy, the full story, please. The families say this show acted as a trigger for these teens to commit suicide after watching the show. One family is saying the show only gives one alternative. It doesnt give anything else for teens to go on as far as suicide. The show has been renewed for a second season. The families dont want netflix to go through with the second season, theyre saying that netflix is basically playing on teens misery. Stuart so theyre not suing . Theyre not suing, no. Stuart they cant establish cause and effect, the link is difficult. What theyre saying is, dont do the second series, enough is enough, thats it. Theyre saying youve already put it out there. Theres nothing more you can do. Stuart big on social media . Oh, absolutely. Teens are watching this, theyre Binge Watching the show. Its bad. Netflix put a warning on the series after getting complaints, its too graphic. Stuart what do they expect . I think its an odd subject to put in this binge type of environment where you can totally immerse yourself in a story thats questionable. Liz were supposed to be fighting teen suicide, and not glorifying it. Its a gory suicide scene. Stuart as it stands now, the republicans cannot agree on herman cain reform, but when it comes to replacing collapsing obamacare, in my opinion, something, virtually anything, is better than nothing. Thats my opinion. Youll hear more on that in just a moment. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Stuart when it comes to healthcare reform, surely something is better than nothing. There is a stark choice facing the Republican Party. If you fail to agree, if there is no deal, you will open the door to the democrats. Senator schumer will give us obamacare on steroids. That is what will happen. Here is how things stand now. Republicans cannot agree. A vote that was supposed to come this week has been pushed to next month. Nine republican senators are holdouts. Meanwhile obamacare is collapsing. Health insurance for millions are unavailable as an affordable price and that means our leaders have to step in with a 6. If the republicans cant do it, Mitch Mcconnell says he will bring in the democrats. That means the fix will be even more of them and care than we have now. That is why i Say Something from the republicans is better than nothing. I see a rising sense of despair, the senate plan repeals obamacare, taxes and mandates and for many lowers premiums, that is something. The republicans cannot agree on it. If a division continues we the people are stuck with a collapsing system and the likelihood of even worse to come. The Republican Party will be stuck with failure, failure to govern, failure to support the president s growth agenda, failure to meet the promises they made. Something is better than nothing. The second hour of varney and company is about to begin. I met with the president yesterday, i told him i am open to making the bill better. I think he is also. Senate leadership had no communication with any of us, the keeping of obamacare. Stuart senator rand paul on this program, senators opposed to reform say no more obamacare, more on that in a moment. Game of 103 points, 23,413, yesterdays loss wiped out the first half hours this morning, check the big tech stocks that were down yesterday, down, facebook, amazon, alphabet, apple, all of them down, not that much but down. Streaming live championship soccer from europe, a very big streaming deal, for the best soccer in the world and Facebook Stock is down despite that news. The stock is still down. My take, my opinion piece, i Say Something is better than nothing. Years Donald Trumps tough Economic Advisor gary cohen, role tape. The president talks about himself as a dealmaker, this is another deal, talking to the group right now, trying to create a consensus and drive to a bill charles heard with us this morning right here in new york. The premise of my editorial, something is better than nothing. In a large sense i agree but in a lot of ways the train left the station. Republicans should have had a free market plan in place all those times they revealed obamacare when obama was in the white house but the problem is what they are doing now is obamacare lights, it is government run medicine and this is where i push back a little bit. Stuart the plan still gets rid of all the taxes, the mandates on individuals, the mandates on employers, they are gone. That is the guts of obamacare. No doubt there is a lot to do with the house bill and the senate bill. The problem is it is still going to be government run healthcare. It is going to be hung on republicans. If you dont like the post office you dont like healthcare impressions by the government. This is the other side of your point. If they dont do it, we are going to revert to obamacare and in the next election republicans can still run against obamacare. Stuart republicans promised to fix it. If they dont fix it they really do own its collapse. Do you trust the donald trump wont figure out how to pin that on democrats . Instead of fixing the mess they made are sitting on the steps of the capital protesting. They look like ridiculous recalcitrant children and republicans are at least trying to fix the mess they made. Stuart i am not sure if it will work like that. The media 100 with a few obvious exceptions is going to say you cant fix it, you own it. I agree with you 100 . You cant rely on the media to handle it fairly. Stuart charles hurt opposes me on my own program when i Say Something is better than nothing, stay there. Back to you shortly. The house is expected to vote on case law this week, that is the bill named after kate steinle who was shot and killed by an illegal immigrant. The bill would impose mandatory prison sentences on criminal aliens who try to reenter the country after they have been deported. Republican from texas joins us now. I cant understand why there would be opposition, do you think it will sail through clearly . We are hoping so. This is a great start for a terrible problem afflicting the American People. I land to support it. As i said it is a great start, it is not mandatory minimums, there are maximums and i would like to see a tougher bill, i will support this thing, i guarantee you that, something greatly needed as the law requires, has to do with the murder of kate steinle by 5 time deported criminal alien, just got to be enacted. I hope our colleagues across the aisle will support this. Stuart you are treading on the immigration issue, treading heavily on Illegal Immigrants and what to do with them. You are going to get opposition. The left will oppose that. It is a mystery to me how elected officials can be more open to helping illegal criminal aliens vans they are concerned with the safety and health and security of their own citizens. It is amazing to me this could be a possibility but it is, nevertheless that is the way the left works and that pivots right into being able to deport these people because the murder of kate steinle would be deported five times. This would get me to another thing, the criminal alien deportation bill that i introduced almost two years ago which would if a country would not repatriate their criminals from the United States we could cut off their visa program, their foreign aid because we also have another young lady named Casey Chadwick murdered by a criminal alien who had been released from prison in the United States from haiti and within a year he had murdered Casey Chadwick from connecticut, we had tried to deport this criminal alien three times to his native haiti and refused to take him. We simply turn him loose on the streets rather than we could have cut off their foreign aid, given over 1 billion to haiti and this would have kept this young lady alive and she would not have been murdered. Stuart you make a strong case. The bill comes up for a vote this weekend we will be following closely. Thanks for joining us. Back to charles heard. Congressman keith ellison, democrat minnesota, he says donald trump is inciting violence with trumps rhetoric. I believe the rhetoric of the president is fueling the ugliest, most pernicious elements of our society. He is green lighting ugly and hate and some of these folks are getting aggressive. We know what happened in portland a few weeks ago. Stuart he blames the Portland Attack on Donald Trumps rhetoric. What i call the donald trump derangement syndrome, the media and on the left have lose all sense of reality and just art making things up and Start Talking about things and this stems from the shooting of Steve Scalise in alexandria by a Bernie Sanders supporter targeting republicans, the ideas that your hatred or dislike of the president for some reason you are allowed to respond to that with violence is Donald Trumps fault, all that does is feeds into the horrific cycle. Stuart do you think the public buys that line . The rhetoric from trump is as damaging as the rhetoric from the left . Like cbs saying selfinflicted would happen. He is wrong. Stuart people get classified about this stuff. Most of this country they laugh it off, got to be honest. People like ellison are praying they are going to both sides have to tone down the rhetoric, both sides. Stuart i think the rhetoric is more extreme from the left. Far more examples from the left than the right, far more. Absolutely but it doesnt seem like that because the media seizes on any thing that happens on the trump side. Stuart always the case. You are all right, thanks for joining us in new york, check this out, this is known as the Oscar Meyer Wiener drone. Hotdog shaped delivery drone will get its public debut july 4th in arkansas, good fly 15 minutes carrying one hotdog. We cover it all. The cyberattack, the hacker getting a wide range of companies, 64 countries leads to computers being locked and data held for ransom. All over that story too. Congressman kevin brady joins us later this hour pushing tax reform. Im going to ask him can he get fullscale reform or just a cut in some taxes . The second hour of varney and company you are watching. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart the question is what is leading the rally, it is up again today. The prospects of doddfrank reform are getting better, maybe that is why. The financials are up. Now this, worldwide ran somewhere attacks. Companies like merck, their computers hacked, their information locked up, hackers demand money to release the information to get the Computer System up and running again. Cyberattacks inflicting great harm on america from both the National Security and economic standpoint. There is nothing you can do about it. We dont have any way of stopping this, there is no magic bullet. And it looks like it was traced to an outfit to north korea, developed a and encryption device. The United States, the research laboratory, and what is how is it north korea, whose people are reading grass because they are starving should come up with quantum mechanical Computer Security . The chinese have been doing this, and the tools used by hackers in the worldwide Cyber Attacks, both of them, at the very top of things, this is not been a priority on them. The air force and this have been at the forefront. We have to support them. One of the things, and donald trump in his recent executive order place a real priority on Workforce Development in the cyber realm. What exactly is quantum computing when it comes to securing encoding, explain it. It is faster than we know it, random number generation, back to my old Favorite Movie the imitation game, when the nazis were changing the code once every 24 hours, what if you change it once every couple seconds . That is what many people believe, if we can perfect this, is the most secure type of computing and very tough, almost impossible to hack. Stuart dont we have the best mathematicians and Computer People in the world bar none . They dont talk to one another. In a congressional hearing, jay johnson, the department of Homeland Security and the fbi did not communicate for months after a hack against one of our Major Political parties, theres a lot to be done, this president has inherited a mess. Stuart thanks for joining us this morning even if was to outline a severe problem. Facebook inking a deal with fox sports, they are going to stream more than a dozen matches from the top soccer championships, the Champions League tournament. This is a big deal because we know about it. Not necessarily the best kind of guy. We will be back. Show me a bit of loving make it all right need a little sleeping in the night this is judy. Judy is 63 years old. Her mortgage payment is 728 a month. Thats almost 9 thousand dollars a year. Now judy doesnt think that shell be able to retire until her mortgage is fully paid off. This is mike. Mike is also 63 years old. His mortgage payment was 728 a month. Mike thought he would have to work for another 12 years until his mortgage was paid off. And then mike heard about a reverse mortgage and how that might help him. He called one reverse mortgage to get the details. Mike retired immediately after getting his one reverse mortgage loan. Maybe you too can benefit from a reverse mortgage. Call one reverse mortgage now and find out if you qualify. Theyll send you an information kit that includes all the details and the stories of mike and others. A reverse mortgage. Is a mortgage with no required monthly payments. It was created for homeowners 62 or older so they can continue to afford and own the home they love. Many one reverse mortgage clients find they can retire sooner, do more the things they love, or simply put more money in the bank. A reverse mortgage could change your retirement, and your life. I examined my finances and i said, there is no reason why i shouldnt retire today. 10, 12 years earlier than i had anticipated. In the first year, mikes cash flow savings totaled 8,736. After 5 years, it will be over 40,000. It really is worth a call to find out if a reverse mortgage can help you too. Call one reverse mortgage now and ask for your free information kit. Stuart look at apple stock, almost unchanged despite one analyst saying they are going to sell 241. 5 million iphones in 12 months following the release of the iphone 8 launch later this year. 241 million would be a record when your sale for the iphone. Stocks almost unmoved. Blue apron for the delivery service, will sell shares to the public for the first time tomorrow but here is the dramatic news, they lowered the operation. Liz they expect to raise a little shy of 3 million versus 510 million bringing the computed situation below 3 billion so what is going on . Amazon whole foods competition, havent made a profit since 2014. Stuart i have a story on facebook, teaming up with fox to stream soccer, specifically the European Championship league. A big deal to anyone who knows anything about soccer. Lets bring in Lauren Simonetti. Anyone who knows anything about soccer, it is the most followed sport on facebook and christianoh rinaldo who won the Championship League earlier this year, i am impressing you, the most liked person in the entire world on facebook. Fox sports says this is where the eyeballs are. We link a deal with the Championships League on site. That is facebook. Stuart Live Streaming european soccer. Never thought i would see that coming. There is an effort to do that as well. Stuart lets bring ashley into this. You follow it more closely than i do. You can only watch soccer on spanish channel tv. It has gone leaps and bounds and i feel it is picking up steam in the us and the mls is growing as well. Stuart i am sure you know this, the european Champions League is a contest between club signs, different from the world cup which is a contest between countries. If i would have to guess i would say it is only marginally better watched by the european Champions League. I did not know that but pretty sure i know this, facebook has 2 billion users. A little over 3 billion users or people with internet on the planet. Two of those three billion people are on facebook. Isnt that unbelievable . When you put youtube, snapchat together. Stuart the biggest soccer games in the world bar none. You know what you are talking about. Coming up the Senate Health votes didnt delay, if republicans cant agree Mitch Mcconnell says he will have to bring in senator schumer and the democrats and what would president reagan do in this situation, more varney after this. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Stuart we have a solid gain for the dow industrials putting the dow industrial average above 21,415, and and how much is in storage, what is the number . Up 118,000, looking for a drawdown of 2. 59 million less barrels, it is the prize bill. Once the action in oil prices touching a 10 month low, looking for the Third Straight weekly drop, this means opec cant do anything with cuts in oil production. And some say 2005 lows. Stuart why isnt the price of oil stuart it is a minor bill but there is more oil and storage. What did you say, what is that again . A larger than expected drawdown using more gasoline, pulling more storage, this is gasoline as expected. Demand goes up when it is cheap. It is cheap. 10 year lows. And the price of oil is now down. And you are barely holding on to 4 a barrel. We still have a rally of 107 points, look at the big tech companies. All of them were down yesterday, most of them are down again today. Apple is the only exception and that is up a mere . 48. Money, now politics. The Senate Health vote delayed until next month. If republicans cant agree, leader mcconnell says he will bring in the democrats, senator schumer, negotiate a fix for obamacare with them. That would mean a lot more socialized medicine. This man is Vice President pennss press secretary. Conservatives hugh hewitt, if republicans fail, we end up with singlepayer. What say you . That is where the democrats want to go, something they talked about recently and even the obamacare original discussion that was their ultimate goal. When we get beyond discussions of singlepayer and democrats and republicans, at the end of the day the American People are suffering under obamacare, they are the victims. Stuart forgive me for this but if we dont get an agreement among the republicans, if there was no agreement, no vote on whatever they come up with, a no vote, we are stuck with obamacare, stuck with a democrat solution that would be worse than what we have got. Of the record has shown obamacare is collapsing in front of our eyes so you will see republicans come together, this is the legislative process designed to work with the house vote, and coming together under the leadership of donald trump. They are working on moving forward. Stuart when i was on the air yesterday there were six republican holdouts. As of now, there are nine republican holdout, they are not coming together, they are moving farther apart. When they go back to their constituencies they will get an earful from lobbyists on both sides and coming together will be more difficult. Stuart as the vote is developed you will see members that are going to influence negotiations, try to work in their ideas and plans but at the end of the day, too many people suffering under it, earlier this week, met with a dozen people, her obamacare, doctors wouldnt take the obamacare card, that is a problem and just because you have an obamacare card in your wallet doesnt mean you have insurance. It is going to be to work out a plan that will get the votes we need. Stuart last one, my editorial at the top of the hour. I will repeat it. In my opinion, something is better than nothing and you say . The president and Republican Leaders on both sides on capitol hill are working to get this done right. We want to make sure it lowers premiums, provides greater access, the access to the coverage they need. We are in the system right now. It is collapsing, we have to do it right and that is what we see with a couple weeks here and there, happened in the house and the senate but at the end is a republicans on capitol hill put a bill on Donald Trumps desk that will repeal and replace obamacare, and choice to the American People. Stuart you are in a tough position but thanks for coming on this show this morning. I personally would like to know what president reagan would do if he had to fix healthcare, if he had to get stuck into this negotiation. Why dont we ask the author of the book the workingclass republican, Ronald Reagan and the return of blue collar conservatism. The authors name is henry olson and he is with us now. Back in the 1980s i do recall the 1986 Tax Reform Act preceded by a long period of intense negotiation. What would he do now . Ronald reagan would set the terms of debate and be flexible about what gave a more of what he wanted. We when he would go for 80 of what he wanted on the grounds you are not going to get to perfection. To criticize people he called ultras who would jump off the cliff with flags flying rather than take half a loaf and come back and negotiate for more. Tax reform is a perfect example, he set a standard, let the process worked and turned lower rated bigger tax cuts when he started the process in january 1985. Stuart in your assessment is donald trump as good at that as Ronald Reagan was . No. The president has been letting congress dictate details of policies, setting out specific enough terms about what he wants to see and these members are shooting at a moving target, trying to say i would like it to look like this but they dont know what it really was. That is what he needs to do. Stuart he had two years of negotiating before he got to the 1986 tax reform, the big tax reform. Reagan set out his ideas in 1985, at the end of summer. Stuart do you think republicans get to an agreement . On november 8th i think it was . Dont have that much time, 7 or 8 months. The president would find more agreement if he would put clear agreements. And leaders work around that rather than letting 52 republican senators and house members try to set those principles by consent. Stuart the workingclass republican and Ronald Reagan and the return of bluecollar conservatives, that is the premise of the book, i think donald trump realigned the Republican Party and brought in workingclass republicans in the Republican Party. He did, that is the main thesis of my book, reagan in the 80s brought workingclass democrats under the Republican Party by talking a different language and donald trump did the same thing using different issues but the same appeal to the workingclass values, i got your back and government will serve your interests and exactly the same thing. Stuart the negotiator is Ronald Reagan. Ronald reagan learned his political bills in california where he made a lot of mistakes. Stuart well said, thanks for joining us. Now says, donald trump calling out cnn for their coverage of russia and the election, quote, say canoes cnn is looking dead big Management Changes now that they got caught falsely pushing their own russian story, ratings way down. Press secretary Sarah Huckabee sanders asked about it during a briefing, lets listen. Multiple other instances where the outlet you referenced has been repeatedly wrong. It is a disgrace to all of media, all of journalism. Of the media cant be trusted to report the news that is a dangerous place for america and certain outlets going particularly for the purpose of spiking ratings and if that is coming directly from the top, that is even more scary and more disgraceful. That is not the direction we are headed. The first to call the media on it. He will go after anybody. And after that clip a reporter in the back of the room took her to task, really bizarre. Stuart he works for playboy, that guy standing in the back of the room. Very strange, his complaint with you are not allowed to complain about the media because you are elected. It made no sense. I saw her and the president for calling the media on this stuff has been going on for a long time and high time that people get called out for it. Stuart thanks for being with us, thank you. I have some temporary beachfront property available. New island formed off the coast of North Carolina. A mile long, 3 football fields wide but it will shortly disappear. Temporary beachfront property. Congressman kevin brady, washington is the laser focused on tax reform. He will join us after this. Shah gilani says the market wants to move higher despite the turmoil in dc. Role tape. Stuart we are about to see the second or third leg up for the dow industrials. Where is it . Coming. Stuart so is christmas. Kind of like christmas there are presents under the tree, they just havent been opened. There will be a deregulation for the market. Are you sticking with your prediction. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Stuart big cyber attack around the world yesterday and Cyber Security stocks fell. This morning a tiny rebound for some of them. They fell because people feel pain. You cant keep me safe. You cant keep my computer safe. Not much change today despite the fact the dow is up 140 points, a rally and a half less than an hour into the trading session. Breaking news, this is important, donald trump has accepted an invitation to attend best deal Day Celebrations in paris, france on july 14th that is just coming at us, no more details on this, why the president wanted to go and why he is going to friends other than bastille day was the anniversary of the niece attack. He is going there on that occasion. Yesterday, Senate Majority leader Mitch Mcconnell announced there will be a delay on the vote on the healthcare until after the july 4th recess pushing it into july. Next guest says republicans are focused like a laser on tax cuts. Joining us now house ways and Means Committee chair congressman kevin brady, he writes the tax code. Welcome to the program. Thanks for having me back. Stuart you are focused on tax cuts. You slams down the big reform proposal and what you can get will be tax cuts. Have i got it right . No, you dont. Tax cuts alone wont make you competitive or drive more jobs in our direction. And our goal is to leapfrog america from 31st in the world on tax code competitiveness in the top three and we have to redesign the way we do it. The healthcare into july, the huge reform proposal. Thankfully ways and Means Committee republicans have been working towards this moment in history to do tax reform, working closely with donald trump in the senate, a single unified tax reform, redesign of the way we tax a fair simple progrowth way. In 2017 i havent seen anything yet knocking us off this timetable but we had a lot of work to do, no question about it but we continue on that timetable. Stuart working day and night on healthcare reform. It has been 6, 7 months since the president won the election on november 8th. We do not have agreement on Health Reform. We have disagreement widening by nine senators who are not on board with the reform plan. Why do you say we can get to fullscale tax reform by this year when we have got such a limited time left . I am disagreeing with you on everything today. Healthcare reform has big impacts. The senate is going through surprises, making sure we have all the bases on affordability, restoring the free market, returning control for washington. It is good, for the tax reform. And not letting anything distract us from what we have to deliver this year unfolds, permanent tax reform. Stuart can i say what i think are the priorities . This is my opinion. Cut the Corporate Tax rate to make us competitive around the world, cut the tax rate applied to Small Business operators who file under subchapter s. Very important for Small Business and growth. Cut the tax rate on individuals, very important to get money back into peoples pockets back into the economy. Those surely are the three priorities, are they . They are. Probably a fourth, in the sense that giving our businesses full and unlimited expense to building off of new investment and build Equipment Software technology, the inventory is half of the Economic Growth on tax reform so we are going bold in that regard as well but those are the priorities as well. Stuart why have a bill that says those three things or four things, that is it, just do it. That is a high priority for them, companies that are competing worldwide, bringing earnings back to reinvest in the United States. In those priorities several iterations that are equally progrowth in this. We are focused on the biggest boldest growth we can get. Stuart congressman kevin brady writes the tax code. Coming up the Senate Passes the buck when it comes to health care. One of the nine senators who is against it, rand paul, with me. More on that interview in a moment. Welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. 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An opinion piece from hugh hewitt, a conservative in todays Washington Post reads, quote, if gop senators blow this, say hello to singlepayer health care, a clear call to the Republican Party, get something done, agree or else. A picture of senator rand paul, one of the holdouts. Senator paul is our guest this morning. You are very much in the news. Stuart i think something, even an imperfect bill is better than nothing. What say you . When you look at the bill you have to measure it and analyze, is it repeal or keep . Keeping obamacare and repealing it . If it is keeping it, how could it possibly be for keeping obamacare, it keeps most of the regulation, a new federal Insurance Company bail out of 130 billion, tell me what that is conservative. Stuart i will tell you what it is good about it, 21 of 22, it gets rid of the individual mandate giving a freedom about what coverage we want and who pays for it and the employer mandate that takes an enormous on the labor market. Isnt that better than nothing . The problem a lot of people ask, myself included, is it honest to get rid of the taxes and continue Medicaid Expansion forever . Medicaid expansion never goes away. Realize when we voted 60 times to repeal obamacare we voted to gradually end the subsidies and end the Medicaid Expansion over a two year period. That was our position only a year ago. Now our position is keeping subsidies together and a new bailout fund for Insurance Companies. I am horrified. Insurance Companies Make 15 billion a year, we are going to give them 130 billion of taxpayer money, it is obscene. Stuart once the government gives something, its the devils own job to take it away. Even chipping away or reforming a government benefit is next to impossible. Thats exactly what is happening right now with health care. Obamacare vastly increased government care through medicaid, even slowing the rate of growth in medicaid brings charges of killing hundreds of thousands of people according to nancy pelosi. Medicaid is not being taken away. It is not even being cut. But even the suggestion of slowing its growth brings out extreme demagoguery. Couple years ago republicans insisted on a minor adjustment to the food stamp program. Youre starving children, said the democrats. So we still have over40 million americans on food stamps. Whats going on . Seems to me like america is on a slow march towards european style socialism. It doesnt matter that europe is broke, mired for two generations in slow growth and very high unemployment. No, no. That doesnt matter. To the left europe is paradise. Lets be more like them. If you try to make us less like europe, try to roll back the cradle to grave, unaffordable, unsustainable european welfare system you will be demagogued to death. We have yet to see a significant Welfare Program canceled, reined in or reformed. The Current Health care debate exposes that central truth in america today. Once the government gives something, it is next to impossible to take it away. The third hour of Varney Company is about to begin. Stuart 91 minutes into the trading session that. That is a rally. Up 127, 128 points. That wipes out all of yesterdays losses. Look at the nasdaq. It is up today, bigtime negative yesterday. It is still by the way negative for the month, but that is a nice gain, up nearly 1 as of right now. Health insurers, are they bouncing back after yesterdays delayed Health Reform vote . Yes, they are. Up just a fraction on all of them, but all of them are up. Let me get back to the little editorial that i gave at the top of the hour. I say, i will say it again, once the government gives you something it is nearly impossible to take it away. Lets get reaction from herb london, at the London Center for policy research. John lonski, moodys economist. Herb, to you first. You stated it very effectively. Milton friedman once said there is nothing more permanent in American Life than a temporary government action. Stuart right. No doubt what you have in the United States today is the europeanization of our politics. If you have a social program, you can not roll back. It has to remain in place. And you also have to look at the rhetoric that is employed. Hillary clinton said after the senate proposal, nothing more than a proposal on health care, that the Republican Party is the death party. That was the words she used. Stuart demagoguery. Of course it is demagoguery. What it means in effect the republicans are not eliminating medicaid as she suggested. Theyre cutting back on increase. Stuart john lonski, economically this is very bad news, because the welfare state continues to grow, eats up a huge chunk of our gdp, no ability to put it back, a problem for the economy over long term. It will go on until it finally breaks the back of the u. S. Economy in a manner comparable what happened to brees. P unfortunately difficult to stop for the political reasons outlined. Stuart were not there yet. Right now we have u. S. Government debt at 77 of gdp. That is the highest ratio during a recovery in recent memory. Usually it is no higher than 35 of gdp. This is why you have a big fight over health care because there is really no way of funding it, funding it to the extent giving People Programs they want. You want it, fund health care, expand the tax base. You want to expand the tax base . Expand the definition of sin taxes. Go beyond alcohol and tobacco, look at sugar and salt. Liz president obama, under obamacare, more ablebodied working people went on medicaid. Weve never seen that in the history of the country to that degree. Now estimated one in four, one in five people on medicaid . It is for the poor. It is for the disabled. It is not for those to get a job. Mick mulvaney is right, best thing for the poor, get them a job. This is fallout of obama economy. Stuart half the babies born in america today, born under medicaid. Ashley 50 . Liz even fdr said it is narcotic. Stuart you cant roll it back. Heritage foundation, says delaying reform, health care or tax reform, delaying it, cost america 2 to 5 billion a day. That translates 1000 jobs were not hiding or creating. Go. Private sector jobs growth is slowing down. It will slow even further until these an certainties that surround Corporate Tax reform, especially lets say treatment of Capital Spending are resolved. Stuart herb, go ahead. Well businesses in the United States very often depend on a certain kind of certainty in the future. The difficulty we have here of the an certaintyies that have come about because of delay in health care. You get a Health Care Bill passed in the United States at this moment, he it is adrenaline shot to the economy. You start to see dramatic growth and job creation. Stuart handicap it what chances of success . I think it will happen. Again notwithstanding. Stuart investors dont mind slowing of agenda. That is called a rally. Dow gained back all losses from yesterday and then some. So herb, to you again, this is again is the divorce between political turmoil and what is going on with your money. That is exactly right. Again part of difficulty in the United States is that political turmoil has a dramatic effect on ones money. People dont often understand the relationship between the two. There is no doubt we started to see reforms that are necessary, tax reform, as well as reform in health care, this will have a very important effect on the national economy. Stuart would you like to go to washington and tell them that please. I do go to washington and i do say that. Stuart get down there and say i had loudly. Now we have this President Trump going after one of it is principle critics. Here is the tweet. AmazonWashington Post, sometimes referred to as guardian of amazon not paying their taxes which they should is fake news. John, get background here. Jeff bezos owns the Washington Post. He is the principal founder of amazon a very wealthy guy. Jeff bezos through the Washington Post is a gigantic opponent of President Trump. He trashes him daily. Now the president is going after him. You say . You know, as a matter of principle i dont like the idea of ceos taking stands on political issues. I doesnt think that helps the company. It doesnt help the shareholders interest any as a starting point and there is this problem where you can go head paying Business Sales tax buying through internet or through mail. That was stuart that is from President Trump. To go after it. Watch out. Watch out. I mean be careful what youre stating, what youre, as a shareholder i dont like that. Now im afraid that trump will go after amazon, who knows, that may harm their profitability. Stuart for some time weve been saying these big tech companies, amazon especially, have become so powerful, so well he think, time for a political response to rein them in. Liz amazon forwards sales taxes to the state. They do that. That is important point. Stuart should remember that, got it. John, thank you very much, indeed. Fine performance today. Now this, for you, herb, ransomware attack, second hit yet. Hit Companies Across the globe. As i said it is the second major attack in less than two months. Herb, we dont know who is doing it. We have no way of protecting our computers from it. Were in a mess. Were in a mess. This is ran someware. Sometimes described as wannacry. I do want to cry every time i look at this. Theyre trying to collect 300, every party, every person that wants to rectify the situation, 300. Its a ransom program. There is no question we have no idea who is responsible. We have no idea how far this is going. We have no idea when this will end. So this is a very significant problem. Stuart we dont know what to do about it. Exactly. Stuart herb, thank you very much indeed. Always a pleasure. Stuart thank you. Individual stocks making news and moving. Start with kb homes. Their profits were better than expected and the stock is up now 3 1 2 , nice gain, 23 bucks for kb home. General mills very much the same story, posting high every profits, and that stock is up nearly 2 . How about monsanto . Profits came in better than the expectations and that stock is up for a 1 gain. 118. A lot more from you ahead, eric bolling from fox news, the specialists. He has a new book about health care. He joins us later. Well fight it out. He is bigger than me. Coming up this man, he was one of only a few people in the entire military at the time with the authority to select terrorist targets and issue death orders. That man is with us, on this program, later this hour. Deputy press secretary Sarah Huckabee sanders sounding off on cnn and other Media Outlets at the press briefing. Martha maccallum on that next. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Stuart there was a surprise in increase the in amount of oil weve got in storage. In other words supply went up but so did the price. That is unusual. In fact oil has been up every single day since it hit a 10month low price late last week. However, having said all that the price of gas keeps coming down. Were averaging one pen any down per day per gallon. Average, 2. 24. My prediction is looking good. As of now five states averaging below 2 a gallon. South carolina, alabama, oklahoma, missouri. One more to go. I believe six states will be down 2 bucks. I will win. Liz road trip for stuart. Stuart road trip. Now this. Sarah Huckabee Sanders sounding off on cnn and other Media Outlets at the press briefing yesterday. There are multiple other instances that out let you referenced has been repeatedly wrong. It is a disgrace to all of media, to all of journalism. If the media cant be trusted to report the news, then that is dangerous place for america. And i think if that is the place certain outlets are going, particularly for the purpose of spiking ratings, if that is coming directly from the top, i think that is even more scary. Certainly more disgraceful. I hope that is not the direction were headed. Stuart strong stuff. With us now, host of the story on fox news, martha maccallum. Good to see you. Good to see you, stuart. Stuart Sarah Huckabee sanders is playing hardball. The press responding in kind. This is standoff. I dont see it ending. Those are strong words. That is strong statement. If we live in a america where we cant trust the press, that is dangerous situation. This country was built in a free he and fair press. Weve seen deterioration of confidence in meetyard outlets across the country. The latest episode by cnn, latest notch in that. Its a dangerous place to be. I think it is something we all need to it take very seriously. We need to, as we always have here, continually doublecheck our sources. It is not important to be first. It is important to be right. When you make a mistake you have to get out in front of it, explain what happened to your viewers. Your credibility is all you have in this business, right . Stuart yes. I think the media lost average credibility with the media in the United States. I dont think the media is trusted. I think it bleeds into polling. There is general distrust of people telling you what to think, asking you in some cases with polling what you think. I think it is very unnerving time to be in this country. Stuart you have a sense of unease. You do. Things like this contribute to it in a big way. Stuart last night on your show you had President Trumps chief Economic Advisor, gary cohn. He was on the show, on your show. He was talking about tax reform and the timeline. For the benefit of our viewers now roll tape. We definitely want to get to tax reform sooner than eventually. The sooner we get to tax reform the better. Our objective is to get to tax reform right after the august recess. Stuart those are comforting words. We had kevin brady, who chairs the house ways and Means Committee, he was on the show half hour ago, were going full at it. All of tax reform. Not just a few tax cuts. We have whole ball of wax. Were going for it. I dont think they have time. I think that is ridiculous. Stuart what, me . Yeah. Stuart what . It is ridiculous, first of all that was ed henry talking to gary cohn outside of the white house. Second of all, we know how we work, we work really long hours. Occasionally they do that on capitol hill as well. I want to be careful not too broad in my brush stroke, because there are many individuals on capitol hill who are extraordinary hardworking compassionate about what they believe in. The fact of the matter, deadlines are deadlines. We might give up this rye ses, we might give up that recess, but they dont. They need to he think big. Tax reform is something that the American People have been behind for decades. They have a opportunity with this president to think big. If you dont start in a big place, youre not going to get anywhere. If you start very small you are going to get nothing. If you start big you might get somewhere. I would say to them, work, get to work. Sit in a room together. I do give the president credit for bringing them all together in the room. Apparently good things started to happen. Well talk to rand paul. Get it done on a deadline like rest of america does. Stuart i put in my place. Martha, i back right off there, i will see you tonight at 7 00. See you tonight, stuart. Good to see you. Stuart we do have other headlines, not just that im wrong but we have plenty of headlines for you. How about this, blue apron . Theyre the ready to cook Meal Delivery service. They go public tomorrow. That means they sell shares to the public for the first time. Here is the story, they lowered their price range t was about 15 bucks a share it would go off at. Now it is between 10 and 11. It opens for the first time. You will see it on this program tomorrow. Lets see the price. Facebook hitting a real milestone. Zuckerberg says facebook as two billion users. 800 Million People hit the like button daily. 800 million. Check this out. I will crack the joke again. I have temporary beachfront property for you, temporary. That is a new island. It is about a mile long, three football fields long, off coast of North Carolina suddenly appeared. Do you have any idea where it is . I gave it away. North carolina, folks. By the way it will go back underwater within a year. Got that . Spiderman pranking customers as they picked up coffee in new york city. Wait for it. Youll see it. [laughter]. Next, you see it next. All of it. All of it. [laughter]. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Hit could be the next big thing i should totally get that domain name. Get your great idea online too. Get your domain today, and get. A free trial of gocentral from godaddy cappuccino for rose . A grand day for spiderman. Everything. [screaming] [laughter] stuart well you dont see that every day, now, do you . A stunt double from the spiderman moving crashing starbucks in new york. Sony created that stunt as part of a Marketing Campaign for the new movie which is you out next week, july 7th. Look at this, tallest skyscraper west of the mississippi opened in l. A. It is called wilshire grand sent are. 11 feet tall, 73 stories. It has a rooftop bar, reportedly highest openair bar in the entire western hemisphere. Liz wow. Stuart the oldest person in the world, celebrated her 131st birthday with some of her 56 deand ants. She was born on june 15th, 1 886. She likes to have visitors, talking to people. She likes to sing in a good mood. A local doctor gave her a checkup on the birthday, her Blood Pressure and blood sugar levels are normal. For what age . Coming up next, eric bolling on his new book, the swamp. He have and i disagree. I say better to get something on health care, than nothing. Well probably have a fight. That is still shot. You cant see what his reaction is. Well talk to bret, a handful of people in the military who have the authority to select terrorist targets and issue death orders. He is on the show very soon. Liz wow. Stuart that, ladies and gentlemen, is a rally and a 1 2. 21 now 450 21,450. A lot of green. Nasdaq, big drop yesterday. It is positive for the month of june. Well check the fabulous five as i call them, bigname Technology Stocks. They have been down a lot recently. Modest bounce back for some of them today. The exception is google, which is down a little bit more. How about the health insurers. They too bouncing back a little. They were down yesterday, on that delayed health care vote. That is not much of a bounce back though. Less than 1 , except for humana which is up 1. 1 . I will stay on Health Care Reform. Cant get away from it. If the gop cant agree on a plan, they will open the door to the democrats. This is my opinion. Something is better than nothing. I suspect well have a fight about this because our next guest is eric bolling, who by the way, author of that new extraordinary book, running away, but number two on amazon. Number two on amazon. Stuart after this interview it will be number one. I will give you credit if it happens. Stuart i wont give credit. I want commission. I will give you commission if it happens. Stuart youre on. This is money show. Stuart here is my opinion on Health Care Reform, do something, get something. Kind of like obamacare, right . Stuart anything is better than nothing. That is what obama told us. You know what he got . He a got a Health Care Bill, turned out into Health Care Law and lost the house. Obamacare gets jammed through both chambers about of congress. You get obamacare, in 2010, we got the house. And then we got the senate in 2012. So, i think doing, here is my opinion is let obamacare fester on the vine through the 2018 election. Putting aside now. Come back it after 2018 election. Why would you take that, why you take that stuart republicans get the blame. Right now democrats getting blame. Why would you take the blame . Premiums will go up through 2018. Stuart every Media Company in america, with just a few exceptions, see, the republicans have six years to come up with a plan. They couldnt get a plan. Obamacare is what matters is coming up with the right plan, stuart. This by the way is not the right plan. Stuart important coming up with an agreement. What most important part of the Health Care Plan . Trillion dollar plan. What is the most important part . Stuart hold on, if you get this vote, and its a no vote, if you can not agree, the Republican Party can not come together, if its a no vote you get to tax reform. Then you get infrastructure. Those are yeses, American Public goes, thank god i got tax reform under my belt. Well get to health care in a minute. I have more money to spend now. Stuart if there is a no vote, go back to where we are now, collapsing obamacare. Worse, it is collapsing. Therefore the senate has to do something about it. Therefore mcconnell said he will bring in schumer to get a new plan. You will get obamacare on steroids. 14 months away from another election. This is where you want to take the ball, hey, we got this . By the way our Health Insurance, our insurance rates are even higher than under obamacare . You want to go to Midterm Election with higher premiums than obamacare. Stuart you havent got votes for get rid of everything in obamacare. Good. Stuart you wont get the vote. You know why . Its a piece of crap bill. A piece of crap law. Here is why, stuart. Stuart getting rid of all taxes and mandates on individuals. That is nothing . Are you kidding eric . What is way to bring prices down. Stuart answer my yes. What. Stuart getting rid of tax, getting rid of mandate on individuals and mandate on employers. What is wrong with that. . Because it doesnt address the overall problem in america, overall cost of health care. Youre doing what democrats did. Stuart mandates, get rid of them. Allow me to answer. Youre doing exactly what obama did and democrats did. Youre dealing with Health Insurance costs, prices not the underlying problem of Health Care Costs. There is no competition in this law. None whatsoever. There is not state line competition. There is not hospital competing with hospital, doctor competing with doctor for prices of health care. The only way to get prices to solve this rubics cube, get the underlying Commodity Prices down. Give you an example. How do you get gasoline prices down . Only way to getcrude oil prices down. Input to gasoline prices is crude oil. You need Health Care Costs to come down first. This bill, nor obamacare neither one of them address the underlying problem. Stuart this book of yours, the swamp, you deal with health care in the swamp . No, but i do deal with scandals just plagued the country for 250 years. The interesting part is, while researching for the book, i found out capitol bidding, while it was being built, was built on literal swamp, real swamp, they had to drain the swamp. They built the building. Forgot to what do . They forgot to drain the metaphorical swamp. Stuart put the book back up again. You want a commission. Stuart put the book back up again. Is that picture . What is in the background . That is the capitol. That is the swamp. That is washingtons murky handsome guy. Stuart eric, i will read that book. Reconsider your stand on health care. Stuart never. Never. No, no. Something is better than nothing. I dont want to get stuck with these taxes and mandates. In britain they have got something there. Stuart that is the way were going you know. You realize that. I know you realize that. I do. I do. Stuart eric, i do think youre all right. Thank you very much for getting up so early in the morning, coming up doing the show. Appreciate you guys here. Let you know how Much Commission you get. Stuart i know you will. Thank you, eric. Appreciate it. All right, our next guest is a former member of the armys elite delta force. Hes hunted down some of americas most dangerous enemies, with the help of drones. He has a book, it is called drone warrior. The man himself is here, bret vilokovich. You got it right. Stuart you operate drones, youre the special forces drone guy. You had authority to identify a terrorist, press the button and kill him. That was you . What we mean is like businesses essentially use data to drive their decisions on who to go after. I utilized Intelligence Data drive my decision which targets to go after or like Islamic State of iraq or. I was not pilot. Not the trigger puller, shooting terrorists in the face. Im telling them who is the person to go after, where they are going to be, pinpoint location, so we can capture or kill these individuals. Stuart i am told you identified albaghdadi back in 2010. You found him. Located him, and killed him. That was under your command no it wasnt under my command but i was one of the first people to designate, locate baghdadi, understand how important of an individual he was. He had just gotten released from prison. We saw him quickly rise through the ranks. At the time he was number four or five in the overall Islamic State of iraq organization. We used him to take us to the original two leaders of the Islamic State of iraq. When we cut off the heads of the snake, he essentially took power and was able to take command. Then u. S. Troops were told to get out of the country and you know, now you know what happened with isis. But reality, yes, we spent a lot of time going after him, picking apart his network. Basically, taking guys out that he surround himself with, he was able to get away even with the constant amount of pressure of u. S. Forces going after him. Stuart what you do you make of morality, or legality perhaps, constitutionality droning a terrorist . That is very much part of our antiisis policy. Of course. Stuart you drone them, you kill them. The morality of it, when there is innocent civilians are hurt, these things keep us up at night but it is not my job to decide what the morality of it was, it was my job to hunt terrorists. U. S. Government asked me to do a job. I wasnt there to decide whether it was right or wrong. When you read in the book, you will see all the lives we saved. And how drones are preserving life more than we take it. Stuart are we changing the rules of engagement . I understand under president obama you were tightly restricted who you could drone. Only one person, no women or children surrounding. Have the rules of engagement changed . They have changed quite a bit. You would be surprised, president obama increased the amount of drone use, a lot of people didnt understand. He focused on covert war, he saw importance of drone technology. But at the same time he was making restrictions making sure no women or children were hurt in the process. We see some of the rules loosened. As long as you give men and women in uniform to do what they need to do to go after these guys, they will do the job the American People ask them to do. I believe we should loosen restrictions on this i know from being behind these types of programs, how important we make sure were not going after anyone else other than the exact target were trying to find and the whole point is to save lives. Stuart along with erics book the swamp, i will read your book, drone warrior. Appreciate having you with us. Thank you. Stuart bret, thank you very much. Now this. Crisis, real crisis in venezuela. The countrys president , maduro claims a helicopter dropped grenades on the Supreme Court. He calls that a terrorist attack. Financial crisis in illinois. That state has 14 1 2 billion dollars worth of unpaid bills. Illinois is suspending powerball and megamillions sales. They can not pay the winners. That is american state in the north. And this. Mark zuckerberg proposes universal income for all americans. James rosen coming up soon. He will break down that story what it would really look like if we did that. Im Lauren Simonetti at the nasdaq where were seeing quite a reversal from yesterday. Nasdaq is higher today. In fact it looks to end june on a positive month. That would be up eight months in a row. We havent seen a winning streak like that since 1995. Two days left in the month. Well see. Were seeing a rebound in the fang stocks. Names like facebook with two billion users. Amazon, netflix, lets add microsoft to that. Missing in the fang, google down today still reacting from the European Commission decision yesterday that it pay that record 2. 7 billion fine. That is a look at the nasdaq. More varney after this. You totanobodys hurt, new car. But there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. I would be the senator that would vote against keeping obamacare. The other senators can explain why they vote to keep obamacare. Im not voting to keep it. This has to be a repeal bill. This is what i pledged to the American People. This is what conservatives pledged. If people go back on their word, keep obamacare, let them go home and explain it. Stuart that is rand paul on the program talking about Health Care Reform and the delayed vote. We also spoke to the chair of the taxwriting committee, the house ways and Means Committee, kevin brady, spock to him last hour. Spoke. Listen what he says about the timeline. I got off the phone with secretary mnuchin. Our tax teams met yesterday. They are today as well. Were simply not letting anything distract us from what we have to deliver this year to on big, bold, permanent tax reform. Stuart joining us congressman sean duffy, republican from state of wisconsin. First of all, congressman. Health care, i Say Something is better than nothing. What say you . I couldnt agree with you more. I think we have to look at rand paul. He has to recognize there are not 52 rand pauls in the senate. We have a wide array of individuals from different states with different perspectives. So were not kings. Were, were senators and house members. I would agree with you, not only rand paul but ted cruz and mike lee and ron johnson, they will very to come together to say how we improve the bill. If i dont get a bill on the senate, i cant go to conference with the house to pass partial improvement of obamacare. Well be stuck with obamacare and implode and democrats will push for governmentrun Health Care System or singlepayer system which is absolute disaster. Stuart youre abs you absolutely right. Stuart, one thing, senators are going home to 4th of july. They will get absolutely blitzed by liberals or conservatives. That we cant stand which control the white house and congress and cant get anything done. Stuart can he of vin brady chairman of the house ways and Means Committee. He said theyre going full throttle for tax reform. I dont think there is time. I think they you should go for tax cuts, leave it at that what say you . They cant pass that through the senate because of budget reconciliation. For every tax dollar you move down in the senate you have to move dollar up. We need obamacare trillion dollars removed. Paul ryan talked about border adjustment tax. That freaked some people out, make even you. We need to find other revenue to lower the tax dials, or senate has to get rid of filibuster rule, to do straight tax reform. Im an advocate. Get rid of a Old School Rule not working for modern government around modern economy. Stuart congressman duffy. Story for cutting short. At least you agree with me. I always agree with you, stuart. Stuart at least most of the time. Most of the time. Stuart this is truly a crisis in venezuela. What youre watching is a helicopter that dropped grenades on the Supreme Court. There is another development as venezuela on the brink of civil war. Liz a Police Officer who attacked Police Officer and interior ministry. He says its a criminal government. National guard apparently under orders from maduro, the socialist dictator, broke into the National Assembly building, where lawmakers meeting about the constitution. Maduro wants to rewrite the constitution to seize total power. They broke in, apparently beat up lawmakers. Detained reportedly hundreds, including 20 senators. Maduro is saying this, he will use military force, if his party, if he loses elections. Here is the direct quote. What can not be done with vote we will do with weapons. This is now disintegrated on the brink of civil war. Its a highly combustible, volatile situation, already nearly 80 dead. More than 1000 injure and untold numerous people under under house arrest. Stuart it is socialist dictatorship. Indeed. How about illinois . They have 14. 6 billion worth of unpaid bills. Illinois is suspending all powerball and megamillions lottery sales. It gets worse by the day. Ashley it does. Estimated 250 billion, stu, unfunded pension liabilities. They have gone two years without a budget. Were entering a thirdyear without any deal in sight. The republicans and democrats are so far apart. Meanwhile the state continues to lose it is not paying its bills. It cant pay hospitals, doctors, medicaid, insurance payments. They cant pay their own utility bills at the capitol. Now they cant pay on lotto or megamillions. Stuart the state of illinois. An american state. Ashley its a real desperate situation. Stuart Mark Zuckerberg recently suggested a universal income for all americans. Were going to talk about what that might mean with james rosen. He is going to tell us what Something Like that, a universal income, would really look like. James is next. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Buttrust angies list to help. , [ barks ] visit angieslist. Com today. Wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas. [applause] stuart wouldnt that be nice . Facebook chief Mark Zuckerberg touting the guaranteed minimum income for all people. Teslas chief, elon musk, he says, that is a good idea. He says it is going to be necessary within day. Come on in, james rosen. Who has been taking a close look at this. James could never resist a smile. He always has a smile on his face, even when dealing with nonsense idea like universal income. Go at it, james. What would the world look like . This is not the first time this concept has been faxable. In fact in his first term, president richard nixon, briefly fallen under the sway of bow tied liberal advisor, Daniel Patrick moynihan. Proposed Something Like this, family assistance plan t was moynihan called guaranteed income. It died in the 19 senate in 1970. It is undergoing a revival nowadays. With perhaps as 40, 50 of the jobs currently exist in the United States right now, will be gone due to automation within 13 years, 2030. So the question is raised, what will become of all those workers displaced by technology . Thence from some ceos, like zuckerberg and musk, is that seeking stability society would be welladvised to guarranty an income for these people in such radicallytransformed, economic environment. Well look at it on special report, with bill hemmer in for bret baier at 6 00 eastern. Stuart doesnt seem like it is feasible, james. Vast amount of money would lay out there, all of us 320 million americans a guaranteed income. It used to be called guaranteed income in nixons time. Now they changed title, universal basic income, expands Playing Field from selected families or households or units or individuals, shall we say a universal promise. The question whether this universal basic income would completely supplant the existing social safety net provided by state and federal governments or added on top of it. That is a big question too. Stuart james, on the way out of this interview well play a beatles song just for you. You are so good to me. Stuart play it now. Play it now. Baby, youre a rich man. How does it feel to be . Stuart [laughter]. Ill tell you when i get there. James rosen, everybody. On special report tonight with a good story. Thank you, james. Thank you, stuart. Stuart more varney after this. Ut here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. E journey of gum disease. Try new parodontax toothpaste. Stuart now, there is a development on wall street. That stock a huge company fedex, that stock is trading, and it has been halted. They do this when there is news pending. That means theres a News Announcement of some significance to the company, which could affect its stock price and they give time to let the news get out there to be disseminated, as they say what news is heading on fedex and as of this moment, it is not trading. Its been halted. By the way, the dow jones in for a terrific rally. Were up about 160 points. Thats where we are as i hand it over to neil cavuto. Sir, its yours. Neil can come on your show. Youre a little rude. Stuart what . Neil you were rude. Stuart to who . Neil to her. Have a nice day. [laughter] stuart what . You cant neil breaking news. Breaking news. Sorry, buddy. To the white house the president likely to talk about health care. Lets listen in. I was very impressed. Im thrilled to be joined by governor paul, tim reynolds, pete, and bill walker, along with state and tribal leaders from around our great country. I would also like to thank secretary