Transcripts For FBC Cavuto Coast To Coast 20171129

Back to about roughly a year ago. Just looking at that, from that point on, we have had 1000 point climbs seems every few months. Would be in this case a little more than a month since crossing 23,000. If we cross 24,000, it would be the fifth 1000 point climb in the dow, since this year. Since the president was elected a little over year ago, sixth time weve seen that happen. Appreciable advance, that at this point has a lot to do with tax cuts and optimism they are going to happen. But there is aggressive timeline here that is, has to follow exactly. Chad pergram following that very, very closely. Chad, what can you tell us . Sometime 2 00 this afternoon is when the United States senate will have a vote to proceed to the tax cut bill. They have to vote to get on to the bill. At that point as you said it triggers a 20hour clock of debate. This is under the special process of budget reconciliation. Why is that important . Well, budget reconciliation turns off filibusters. In other words they only need 51 votes to pass a bill t limits amount of time. We could have amendment votes later today, presuming they get on to the bill this afternoon. Then they would have what they call the vote rama, this is another category term, this is they vote, take amendment vote after amendment vote after amendment vote. Sometimes goes on five, six, maybe 14 hours t culminates in a final vote at the end of the process, presumably late thursday not, maybe wee hours of friday, maybe even saturday. They just need 51 votes. We believe this vote is right on the edge right now. There are a couple of wild cards out there. Jeff flake, republican arizona, also john mccain, republican of arizona, if they get to 50 votes, they need Vice President mike pence to potentially break the tie. Neil how do you see that going . They seemed to rush it out of committee, all republicans voting to do so. Does that mean ail yea votes, meaning senator johnson in the final measure . Senator johnson indicated on your program said President Trump would try to fix this later on. Bob corker a member of the Budget Committee, said some triggers, backstops might raise taxes later if they go into deficit spending that could get him to yes. But that will be something to see where the fix comes. Does it come in set of amendments they do on thursday or friday . Does it come in Conference Committee. Here is another vocabulary term for you. Do they get assurances from speaker of house they will fix this in the Conference Committee . The Senate Passed a bill. The house already passed its version of legislation. They put them together in congressional blender and get one final bill. Do those senators on the edge have enough assurances from the house, enough confidence in the process they get it through . Neil, ive talked to a lot of people in the past 24 hours. They think this can go through the senate but theyre very leery of the conference report, because you pass something not in the original bill. Getting that through the house and senate again is very troublesome. I look back to energy bill they had in in the mid 2000s, wewhere they produced conference report, the final version out of Conference Committee. They had a bear of a time to get it through the house and senate. They finally did but took a look time, neil. Neil i imagine the house would be less likely to simply are upper stamp what the senate approves, if it does, simply to get this to the president s desk fast . Look at the senate mandate repeal of obamacare presumably will be in the piece of legislation in the senate. If you put that in house bill, there is a reason it wasnt in the house bill, you start to lose all the moderate republicans, socalled tuesday group. Charlie dent of pennsylvania, some of whom they had trouble with on the Health Care Bill in may. Neil buddy, youre a genius. You know that already. I appreciate it anytime, thank you, very, very much. Anytime, neil. Neil how will this go . We have politico reporter rachel bade. I want to start with john mckin what kind of a role he would have. Some tax cuts he opposed including president bushs two tax cuts. I went even further, 1994, at time of the pub puck takeover, and republican takeover, i said i think we take make a terrible mistake go back to the 1980s, we cut taxes and got a debt and pay on annual basis bigger than the amount we spend on defense. Back then worrying allowed about our payments on the debt exceeding what we were forking over to defense. If he was a no over that issue then, he has got to be a no over this issue now, right . Chad talked about wild cards were watching in the senate right now. There is no greater question mark i dont think than senator john mccain. A lot of my white house sources are watching him very closely. He has been pretty mum how he feels about this bill saying he wants to see what the final product looks like before weighs n he has history of opposing tax cuts, right . Bushera tax cuts, going back to the 80s. Listen, he, a lot of people are really cautious about him because he voted against the Health Care Bill. Which shows he is not afraid to go against President Trump and his own party leadership. So he will be someone they definitely got to get on board. They can only lose two votes. Right now theyre probably going to lose collins fset next one, where does this go from here. Neil you think they will lose Susan Collins over the individual mandate thing, senator from maine . Collins is another one watching closely. She wants a commitment obviously the president will continue making obamacare subsidy payments. The president real did i doesnt want to do that. How is that going to shake out will be determined. Another thing on mccain the reason he opposed tax cuts in the past he said they benefited the wealthy. In the senate theyre looking to making tweaks from the bill that will actually skew some of the benefits further toward the wealthy right now. For instance, talking about making changes for tax cuts for small business. 70 of Small Businesses affect top 1 . If they make those changes to make tax cuts for smaller businesses greater, that will further skew who is benefiting toward the wealthier side of the scale. So that will be an issue for mccain. Neil i will take the leap, somehow with all those problems that you outline very well, they still end up approving this, but then the next Freight Train is the budget. And thats something, we mentioned john mccain at the outset. As you reported in the past he is very concerned about military spending, rachel. He said he wants to increase that spending, democrats and some moderate republicans would counter, well, then we have to increase nondefense spending that budget thing could prove even bigger mess, right . Oh, my gosh, throw this all together, everybodys heads spinning out of control right now. So the latest on this. I posted a story on this. Sources are telling me that republicans are trying to kick this budget fight into january. They know it will be a total mess because democrats, youre right, they want to increase nondefense spending as much as they want, as much as republicans want to increase defense spending. There will that be wild card there. They want a fix on daca for dreamers, a solution there. This will get really, really ugly. It could totally complicate tax reform especially having trouble getting everybody on board in the senate. Republicans will try to push this to january, however they will need democratic votes in order to do that. They need at least eight Senate Democrats. Right now the big question is, can they find those democrats . Neil do you mean to say they would need even those temporary extension to keep government lights on a few weeks into january . Thats right. That is exactly right. They need to pick off eight Senate Democrats to get it through. They think they can pass it through the house. But the senate has 60 vote threshold. They need eight senate dems. Im not sure they can do that well see. Neil youve been right on a lot of this stuff. Thank you very much rachel. Politico capitol hill reporter. A lot of things to rachels point have to go just perfectly right now. One of the big issues, really perplexing republicans how to pay for all of this. Remember the senate plan builds in 1 1 2 trillion dollars in tax cut revenues would be lost over the next decade, the idea being that Economic Growth though will address a lot of that. In fact a lot of top economists, number crunchers, former top economic honchos in variety of administrations penned a letter on this very issue, saying essentially such that, that we will see growth from the tax cuts much more so than anticipated in the past. Among those glenn hubbard, former bush 43 Economic Advisor Economic Council chair. Glenn, very good to have you. Its a pleasure. Neil talk a little bit about that. Many republicans are concerned, i dont want to bust deficit. I dont want to dramatically increase the debt, a lot of geeky colleagues of all came to the conclusion theyre worrying a bit too much. Explain. Theyre worrying about the right thing but we also need the economy to grow. The question is if you do the right kind of tax reform, particularly Corporate Tax reform what is being complicated you do get higher gdp because of higher investment. So a lot of this will come back to the government. I think the goal ought to be progrowth policy. Why the corporate piece of this is actually pretty good. Neil douglas holtzeakin signed on to this, george shultz, larry lindsey, john taylor, whos who, argued this could boost gdp. That alone could go a long way to providing additional revenues. What i notice in the past with surges in gdp getting them to last longer than a quarter or two or three at a time. Do you think that the average you see for 10 years would be consistently 3 or better versus 2 as been the average roughly over a last decade . There is no question gdp will grow. Getting steady 3 growth, requires a lot more than the tax code. Would require regulatory changes. Neil glenn, this alone does not do that right . I think it will raise growth. I dont think it will get all the way to 3 forever. What we agreed in the letter you will raise the level of gdp to 3 . Neil there has to be revisitting all of this, the fear republicans have, even if they pass this, get it done, the impact, feeling impact could be months, years away. I dont agree. Neil good, that is what i was going to ask. The fear if that happens, they will lose the midterms. Go ahead. Here is the way i think about it. I cant opine on the politics but on the economics, if the corporate rate cut is delayed a bit, which is in the bills, and you have exexpensing of investment, you have a lot of investment in anticipation of a future rate cut. If anything, activity will be frontloaded, not backloaded. There will be longterm very positive effects because over time as Capital Stock grows that is higher out put and higher wages for all americans. Neil even though were better than what used to be called full employment right now, even though corporate Balance Sheets look pretty robust, even though the market has been on fire right now it, could be, even more so with these tax cuts in effect . Well the market of course has already been pricing some probability of tax cuts. Neil right. But in terms of the real variables you mentioned, output and wages investment, absolutely yes. Neil okay. Very good. Glenn, thank you very, very much. Pleasure. Neil former bush 43 Economic Advisor, Economic Council chairman. Dow is up 53 points. Mitch mcconnell said the senate voted on wednesday, whether to start the debate on tax bill. In other words, yea or nay on that. That is when the 20hour clock starts running and they start yapping. After that they hope to start a vote which could take us probably to maybe a friday vote, possibly a this weekend vote, you dont know. They are moving full throttle. Chuck schumer not a fan of that speed or why they are racing away like this, but keep in mind, democrats did that as well with the health care act. So theyre pointing fingers at each other, each repeating what other said was sins of the other. It is just a mess. They hope to have it all resolved in a matter of hours after this. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Neil by now you know is out. Matt lauer fired by nbc news and they didnt give a lot of folks there much warning. Fbn am cohost, Lauren Simonetti on how it went down so quickly. Lauren . So quickly. After twodecade run as fixture on the today show,nbc news firing matt lauer, after police filed a complaint monday night lauer fired monday night. Nbc news chairman, andy lack out with a memo to staff, while the first complaint about his behavior in over 20 years he has been working at nbc news, we were present with reason to believe this may not be a isolated incident. The New York Post is reporting that lauer allegedly assaulted an nbc female staffer during the Winter Olympics in sochi in 2014. That is reported by the post. Apparently his behavior was wellknown. Parent company, campus cast behind me, is rallying on the oust sister of matt lauer. Neil lauren, thank you very, very much. President tweeting about matt lauer today. Wow, matt lauer was fired by nbc for inappropriate sexual behavior in the work place but when will executives at nbc news and comcast be fired for putting out so much fake news. Check out andy lacks past. President trump tweets on big things and when they happen whether they relate to his white house or not. The leftleaning media laps it up and allows President Trump to control the agenda. Putting them off balance. You have two news networks, cnn, and msnbc, and i watch them closely, along with fox business being my favorite but they constantly lament how terrible it is President Trump is doing. That is what they spend almost all their time on. Frankly that plays right into the president s strategy. It is part of that. Nbc news, comcast is a great company. The head of nbc, steve burke is one of the best executives in all of media, but unfortunately the nbc News Division is decidedly leftleaning. For President Trump to take a shot at andy lack and phil griffin, is not a shock. Frankly not totally out of line, given their history. Neil nothing to do with these charges and developments at all. So you might be right about that, lee, but my only point on this he would have been better saying nothing at all, would he . You know what . I would trust his instincts on that and not that, by any means like a lot of stuff that President Trump tweets but in terms of working for what he is trying to accomplish, he has been pretty successful. Neil he got himself elected president of the United States. He knows about this stuff. Neil given this, i will argue that you make a very good point how this sort of takes away some of the firepower in the investigations over his moral propriety and all of that, given fact some of the people most zealous going after him are caught up in webs of their own so there is something to that. I wonder whether commenting on this stuff feeds the beast . Around he is in battle of his life getting tax cuts through and he might and just focus on that. What do you think . I think he is calling attention to the establishment media avow he hadly, egregiously antiPresident Trump bias. He takes every opportunity to do that. He points out these guys are not pure as driven snow. In terms of what you mentioned before that. Roy moore, whatever his failings, down in alabama, the guy running in the u. S. Senate special election, has been blessed by god because in the wake of his scandal, we now have this cascade of accusations against leftleaning politicians and media celebrities and movie stars. So now, it is wrong attitude, but a lot of voters are thinking, hey, they all do it. That is one reason that roy moore has retaken in the lead in the polls in that Alabama Senate race. Neil there might be, youre right. There are some distinguishing differences here. In roy moores case, if they are true, they involve underaged women. Sure. Neil i am curious as to whether it has reverberated in a way that a lot of roy moores critics could not have foreseen . People in alabama are more angry at critics of roy moore, those outside of alabama trying to decide this election and even republican establishment players like Mitch Mcconnell trying to even have a new election, and that that is actually helping moore . It is. It is the two together, the establishment and Republican Party and leftleaning establishment media, trying to demonize and get rid of roy moore, hey a lot of accusations and criticisms of him i agree with, but you know what . Alabamaians dont want to be told how to vote. Neil no one does. No one does. I think youre right. Were seeing all over the country. Hey, democrats didnt want to be told they had to vote for Hillary Clinton. That is why Bernie Sanders had won the nomination if not for superdelegates and horrific manipulation that Donna Brazile and others were involved with, and entire party was manipulated by the Hillary Clinton campaign. Nobody, whether youre in left, right, in the middle, likes for establishment people in this day and age and media telling them who they have to vote for. That is something every politician of every stripe needs to take account of. I do wish we were talking a lot more about tax reform. Neil right. And things of that nature. That is a heck of a lot more important, is getting that, getting that passed, frankly getting changes made to it, make it more effective. Neil real quickly, going over here, some of my producers are screaming at me, they are, actually. Im curious, does this cancel out harrassment, all the other issues, since it seems to have infected both parties, both sides, liberals, conservatives . I know there are differences and grades of this but it seems to be so rampant now and across Corporate America now, and across all persuasions now . Does it cancel out, does it change anything, what . Well i hope it does change things. I hope it doesnt cancel it out. As i said when it comes to politicians it does contribute to the perception among voters theyre all pretty crooked. You know, even though that help someone like roy moore the first to go down. The matt lauer situation is the latest thunderclap of storm of racial harrassment reckoning has got to happen, had to happen, taken far too long to happen. The question i would have is, this occurred allegedly three years ago. We were told in the report, in the segment that other people around nbc news and the today show knew this kind of stuff was going on. We need a new policy, neil, in this country, across business and across government, same policy about terrorism, when it comes to sexual harrassment, if you see something, say something. We shouldnt leave it to the victimized women or anybody victimized to have to report this and not to have any backup, anybody else helping them out because you know what . When you undergo that kind of trauma, when someone very powerful has implicit ability to destroy or impair your career, you know what . Maybe youre a little nervous about coming out and discussing that. Neil youre right. And that is why friend and associates, certainly coworkers should start speaking out. If you see something when it comes to sexual harrassment, you say something. Dont wait on it to come out years later. Neil although, lee, we in fox live in very big glass house. I can relate to those that say they didnt know or werent aware. I certainly wasnt aware of a lot of stuff. Maybe im and ignore ram must. Maybe those that do know should say something. Neil lee, good to see you. I know this will shock you they want to have emergency meeting at United Nations over the north Korean Missile test just like they had an emergency meeting after the last missile test two months ago. Just like they had an emergency meeting with the test before that one three weeks prior and one before that one, four weeks prior, and the one before that one, five weeks prior. You seeing a trend here . So is david hunt, our military analyst. Served this country nobley. The o good colonel what we do next. That he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested neil all right. Defense stocks having a pretty good week in this middle of the week ever since that north Korean Missile launch much even amid prior to it with the sabrerattling. On and upward we go. The president is promising additional sanctions, major sanctions on north korea after this Missile Launch much. And, you have got talk of emergency meeting at the United Nations yet again. This is sort of the drill we go through, all these drills and emergency meetings of the nighted. Nations. To fox news military analyst colonel david hunt what he makes of all this. You know, colonel, we can time it almost to the exact response what happened every single time north korea does this. It is the same action and the same reaction to the action. What do you think of it . Yeah. Its can be frustrating. No administration has been able to come up for an answer to this. We have a military solution which would be devastating for seoul because of the closeness to the demilitarized zone, north korea with 155,000 pieces of artillery and rockets 30 miles from seoul issue. The military outcome is a foregone conclusion. North korea would no longer exist. Were the besttrained military in the world but the hostage, millions of people, 20 million plus, in seoul and now tokyo. North korea has had the bomb since 2006. They are a nuclear nation. The question is delivery system. After yesterday it seems all the experts they have a missile that can reach d. C. Now we evaluate whether they can put a it nuke on top and can recover from reentry. What we do about it is china has been very helpful, lately which is unusual. Im not sure you can starve north korea anymore. Neil do you really the reason why i ask, obviously whatever they were doing or not doing, north korea is still went through with this missile test. It is just your opinion, i understand, do you think china was given heads up by the north koreans, hey, well test this incredible missile . I have no doubt that north korea gave heads up to china. Neil really . They are the last hope for any kind of economic assistance. They are still getting some. Your introductions is correct. Weve been through this before. The difference we have outspoken president , very direct and nasty guy running north korea who are going at it on the airwaves. That is added something that weve not seen before. We also deployed three Aircraft Carrier groups, first time in 40 years. Only two there now, but that is a massive display of force and flying b52s over the peninsula. Not like were sitting still. There are 28,000 military people stationed there, and 200,000 total americans. It is not overly Different Military problem although ugly. North korea is a tough place to take on the ground. Neil right. But north being that close north korea would have the chance, no matter how successful the air force would be, to make a strike in north korea. That is the hostage, that is the thing were not able to come up with. Neil but sanctions wouldnt cut it, right . I think there is, you have to completely starve them. China has to agree to cut all economic aid. No more fuel. Fuel is the next one to reduce. Right now, neil, the north koreans defected successfully. Almost died. When he was in south korea, they found parasites in him, one 2sent meters long. 28 centimeters long. More pressure we would find them dropping in the streets. That would be the ultimate. After you do that, there doesnt seem much else but a military option and that still hinges on seoul being held hostage. Neil colonel, thank you very much. Always good talking to you. Thank you. Neil all right, colonel david hunt, served this country with great honor. In the meantime, this is great news on the economy. In this latest read, growing in excess of 3. 3 . That. 3 is stronger than three originally reported. If you maintain that, you paid for tax cuts. You paid for 1 1 2 trillion in revenues that they lose out, just that. Imagine if you do a little better than that. After this. They appear out of nowhere. My secret visitors. Appearing next to me in plain sight. Hallucinations and delusions. These are the unknown parts of living with parkinsons disease. What stories they tell. But for my ears only. What plots they unfold. But only in my mind. Over 50 of people with parkinsons will experience hallucinations or delusions during the course of their disease. And these can worsen over time, making things even more challenging. But there are advances that have led to Treatment Options that can help. If someone you love has parkinsons and is experiencing hallucinations or delusions, talk to your parkinsons specialist. Because theres more to parkinsons. My visitors should be the ones i want to see. Learn more at moretoparkinsons. Com the markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. Neil all right. The president will be departing soon to missouri to sell the republican tax plan. Jeff flock in st. Charles, missouri with a crowd no doubt will be excited to see him. Jeff . Reporter yes, about 1000 people, neil. As you can see perhaps behind me, theyre already showing up out there. There are folks circulating a petition that they want to give to the congressional delegation in missouri, urging them to support tax reform. Claire mccaskill, part of that delegation who said she wanted to be a part of tax reform. She wanted to work with republicans but yesterday she voted actually against advancing the bill in the finance committee. She is member of the finance committee. I wanted to support real tax reform. This isnt it. It gives middle class scraps and corporations and wealthy Business Owners make out like bandits. That does not sound like somebody who might be a yes somewhere down the line. Of course the tough part for her, she is in a state that President Trump won by 19 Percentage Points last november. She is up for reelection in 2018. The delegation, the congressional delegation in missouri is six republicans and two democrats. You might think she is in some trouble. She seen in this state as pretty moderate democrat. In fact some democrats she talks like a democrat. She is actually a republican. If youre pissing everybody off youre probably right smack in middle of the road where Margaret Thatcher says you likely are run over by a truck. Neil. Neil you just alienated many viewers with that comment. Always good seeing you, jeff, thank you very much. Jeff flock making his final report here at fbn. I am joking. I love that guy. I love that guy. Meanwhile the u. S. Economy growing at 3 in the Third Quarter. By the way that is strongest weve seen in three years. That is not only difference between 3 and 3. 3 . You maintain that you pay for the tax cuts. One 1 2 trillion in revenue over ten years much then some. That is why growth is such as important part of this picture, maintain it. Revenues come in, everything works out just hunkydory. Charlie gasparino, on all of that. Who told you so . I told you, even without the tax cuts, if impose deregulation as President Trump is doing across the board,epa, financial services, whatever he can do, putting people in these places that want to deregulate, interpret laws stringently you give a defacto tax cut to corporations. Neil you think that is what is behind this growth . I think that is lot of it. Neil you are giving President Trump who you rail against constantly and treat like dirt, you are giving him, wait a minute. You are giving him the benefit of this long, longterm ga parrino no doubt. I have been saying for a while. Neil youre doing trump impression. My nose is itchy. What does it mean when youre nose is itchy . Neil youre lying. Okay. The president doesnt read more than 500 word a day. Neil you dont know that. He is nod a big reader. He is not very literal. Neil well neither do you. Yes i do. I read everything. Neil not just your books. No, im reading Ulysses Grant biography from chernow right now. Neil someone is little anxious. He doesnt read a lot. He tweets stupid stuff. He says a lot of dopey stuff. Yet, he does some very simple things. Neil he is president of the United States. Guess what he did . He did some very simple things. He wants to cut taxes, even though i dont like a lot of tax plan. It is netnet, not a bad plan. Neil you still think it will happen . I think so. Who knows. You know, there is still a lot of holdouts or maybes. He is doing something simple with deregulation and thats all you have to do. Neil you can get more growth than this if youre getting more growth with taxes you think you still get more with them . Depends. Some of that individual stuff is bizarre. I think he made a mistake giving it to congress to play with. Because they screwed up the individual side but corporate side is pretty good. Obviously when you have a 35 Corporate Tax rate as we have here and rest of the world is at 20, you will have a competitive problem. And thats, this is real simple. I guess my bigger point is, you can have president dunderhead here saying crazy stuff. Neil whoa, whoa. He says crazy stuff. You can do that. Neil 1000 point advances. Think about it, neil, you have that, all you do really simple stuff that brain surgeon barack obama couldnt figure out, and brain surgeon Hillary Clinton couldnt figure out, that just takes some simple things with this economy. That is laying off of businesses to a certain extent. Let people keep more none any, than giving it to the government. Not being at war with business. Neil this is the trump rally, trump economy, trump market. Yes. And you may not like what he says, his dopey tweets out there, he was coming out today with craze we have 3. 3 gdp and tweeting about matt lauer. That is crazy. Neil economy sizzling, stocks are sizzling. Im telling you, man, it is simple. You dont have to be a brain surgeon here. Well, donald neil economy is like pumpkin spiced latte. Like a big orange ball of hair. Neil stop. We have lot more after this. I think we have alienated everybody. We have new government fears we get through the whole taxes thing, guess what, they will turn the government lights out, because were running out of money and running out of time to address it. The other fight you dont know i think you should know after this. Is this a phone . Or a little internet machine . [ phone rings ] it makes you wonder. Shouldnt we get our phones and internet from the same company . Thats why Xfinity Mobile comes with your internet. You get up to 5 lines of talk and text at no extra cost. So all you pay for is data. Choose by the gig or unlimited. And ask how to get a 200 prepaid card when you buy any new samsung device with Xfinity Mobile. A new kind of network designed to save you money. Click, call or visit today. Neil lets say you get a tax cut. They move fast and they move to get that all approved and voted on and done. Right after that is another potential legislative nightmare because it is just hours later, im talking about, possible government shutdown. Adam shapiro live on capitol hill with the very latest on that. Adam, times a wasting, right . Reporter times a waiting. Talk about the latest headline. Essentially we run out of money. Congress will have to pass a continuing resolution or full fiscal plan to take us from 2018 through september 30th. Look at video. We know about the famous showdown between the president and Chuck Schumer, Ranking Member or minority leader, rather, and nancy pelosi in the house. They skipped the meeting with the president after he tweeted that the discussion over a deal for the funding of the government would be no deal. So they did not attend. Then of course the meeting went on with paul ryan and Mitch Mcconnell, and two empty chairs. Where do we stand all this . Democrats are holding out. They want to pass legislation as part of the deal to help immigrant students, daca students. There are funding subsidies for insurance premiums. Want that in there. Republicans face a problem because there are spending caps that have to be lifted that were put in place in 2011. So getting everyone on the, same boat will be very difficult. Especially if you dont have the democrats. But here is what Sarah Sanders said about all of this yesterday. Or this morning, rather. President wants to make sure we do what is necessary to fund defense spending, the military. Democrats are playing political games. It is really sad what Chuck Schumer and nancy pelosi did yesterday, refusing to come to sit down with the president , make sure were putting priorities of Americans First and not priorities of their party first. Reporter in a Perfect World they would do a full funding measure, take us through september 30th year, rather, fiscal 2018 but look for continuing resolution to get past friday, december 8th. Back to you. Neil adam, thank you very much. Bitcoin, you probably heard about it. You but i remember people saying this is bubble when it was at 500 and 750. Now its north of 11,000 a share. You dont know whether a cause, a stock or phenomenon. Deirdre bolton taking a close look at it. Reporter we cant ignore it. We cant ignore it. 11,000 now. This is sixth day of a record. Neil yesterday was 10,000. Reporter that was a big psychological mark. Seems more and more organizations are recognizing it. If you want to know about timing, why is this happening now, it does seem to be, i will read three, four organizations actually, cme group, chicago board of exchange, nasdaq and Cantor Fitzgerald are either starting to launch futures contracts for this because investors are demanding it. Cantor fitzgerald and nasdaq is first half of next year. But point more and more organizations are getting on board. Ceo of Morgan Stanley said, maybe its a bubble, maybe it is not, but it is not inherently bad. It may be speculative but it is not inherently bad. Neil base it on the idea, this would be rival, alternative to established currencies . Reporter yeah. This would be the biggest disruption in payments around the world ever. Because you neil even u. S. Dollar. Reporter huge. Take out two middlemen. You take out banks and you take out government. So for a lot of people the appeal sometimes is just philosophical, right . Why should a government tell me what anything is worth . You and i agree on a price, why shouldnt we trade and by the way not pay a bank a transaction fee. We talked about Jpmorgan Chase jamie dimon saying it is a fraud. He will fire employees who engage in speculation of bitcoin. I want to point out cynically, jpmorgan is biggest currency trader in the world. So they have a vested interest. Neil what i worry about, not worry, but it would be significant, if one of these large Money Center Banks embrace it, because you know, if you want to get on the wagon, its a way of riding the wagon. Reporter a lot of reasons to worry. If we go into financial crisis. This is when it started in 2008 after the global credit crisis. Neil right. Reporter seem in this country were losing faith in government, how the government manages financial systems. Neil anything reflective of government, their bonds, currencies, even stocks port for people thought it was a scam or sham. People living in other countries used to unstable currencies, bitcoin seems completely reasonable. If you speak to somebody in venezuela, oh, thank goodness. Bitcoin. Im trading directly with a business person down my street. I would rather deal with that than government. Neil isnt this easily manipulated and doesnt a rise weve seen from 1000 buck as couple months ago to in excess of 11,000, doesnt that show manipulation . Reporter very least speculation and big waves you cant control. Neil currencies that move are scary. Reporter only reason the dollar is stable as it is, no matter what the rest of the world says about us, people still believe in the credit of the u. S. Government. Neil backed by full faith and credit and that means something. Unless you get to a point where it doesnt anymore. Reporter i think were far from that but i think it is worth noticing a lot of very tried and true blue chip institutions are beginning to buy investor demand. People want to trade this. How can we make money . I want to point out speculation because you made me think of this. Currency, bitcoin fallen 80 more than five sometimes since 2008. This is not for the faint of heart. It used to be frankly for nefarious purposes. That was origin. Drugs traffics, arms trafficking. Illegal military equipment trafficking. Unfortunately human trafficking. A lot of noncriminals dont feel comfortable using it but at 11,000 bucks a pop it. Neil it got peoples attention. That is Something Interesting well follow closely as will the president of the United States headed off to missouri to talk tax cuts. Right now he feels he is getting the upper hand. More after this. Neil all right. President trump at joint base andrews, hes ready to depart right now for missouri where hes going to be selling that tax plan saying its the biggest and best of them all in United States history. That depends on what type of math youre using here. Well get to that in a little bit. We do know that Mitch Mcconnell is calling the shots at the United States senate expects to get a clock running and a start count going maybe within hours. It would be 20 hours from that point and a debate that would probably prompt a vote at the end of this week or probably saturday. After that, its anyones guess how this would go or not go and whether theres a rush in the senate to rubber stamp it and vote on it. Another congressman told me thats not how it works, and they will not comply with that. But, again, so many ridges to cross first before that. One that seems to be very close to crossing is dow 24,000. Right now the dow is closing in on that level. It would be another yet 1,000point milestone. The sixth of donald trump since his election, the fifth this year. Meanwhile, its Real Clear Politics National political reporter Connell Mcshane frommous the white house. Connell, the read there is that the markets are sensing this and realize that you get onboard with this, yeah . Yeah. Essentially. We talked about this the other day. Its tough to read into what the market does in reaction to preparation for or whatever the case may be with tax reform because, you know, very easily we could see some sort of a selloff. We havent yet. It seems were waiting forever, and it could be the bill passes as you and i brought up when we were talking about selling to the news. I dont think thats out of the way. When markets look for reasons to go down, lately it seems were waiting for an excuse to go up and yesterday was a good example of this. The incoming fed chairman testimony would find a reason to go up and, you know, that seems to be the leadup to this tax reform effort. You know, from the white house perspective today, though, there seems to be some sense of urgency, neil, that they think they have to sell this. To your point, it could go either way, even though there are has been positive news the last couple of days, and they really think they have to sell it to main street. This trip is on purpose today right outside saint charles, missouri, and the Senior Administration official was saying one of the reasons they went there because it has a goodlooking main street, literally. And they just released a few excerpts with the president talking, and they expect him to do this afternoon. And a lot of tax cuts about main street about cops, teachers, truck drivers, and pipefitters, and not enough for the middle class to keep getting by. We want them to start getting ahead. That will be a quote from the president in his speech this afternoon. Neil you know, the president is going to try to sell this to the public justify it or not very skeptical about this and whether enough of that money reaches them, many are ticked off in these surveys upon hearing that tax cuts for companies are permanent. Tax cuts for them are not. So how does the president pitch that when he meets with folks from missouri . Right. That cbo report showing that poor americans would be hit with perhaps a tax increase later on in a few years time. Democrats are, of course, trying to do their own messaging around this, and they have been successful in terms of public opinion. So republicans are really looking to the president to be able to sell this to the public and try to sell this the way he complained as kind of a populist candidate. Thats going to be hard to thread that needle, given some of the bo numbers. But i will say that the real effort here is nailing down those votes in congress. And i will say that it does seem that more republican senators are wanting to get to a yes vote on this, and thats pretty remarkable, compared to the health care fight that we saw. So i think that this certainly gained some momentum yesterday and the president is trying to apply more pressure there. But even if it does pass, i think your point about selling this to the public is really important because when you look at the polling here, its still an unpopular bill. And were at the end of the year here, of course, and this would be a significant legislative accomplishment for this president and for this republican congress. And they need to be able to show the public that they are working on something not only getting something done in the political sense, but also what they would be giving to people. Neil yeah, thats well put because thats the struggle for winning over these senators who are skeptical. Ron johnson among them from wisconsin. And, connell, he was with me yesterday saying hes credentialed by what hes saying. I want you to react to this. And did you get a chance to pass along the measures being expressed to improve that situation . Senator danes and i are in pretty constant contact, and were unified in our position here that we certainly need to close that disparity that doubled, basically, in the senate bill. So its still a huge concern of ours. But, again, i like the movement so far. I think senator corker was obviously satisfied as well. So the moves in the right direction, and we absolutely need pro growth tax reform. Neil all right. Just to put that in some context, he and senator danes of montana were skeptical about the fair and ethical treatment about small or larger companies. We think Small Companies are getting the shaft. Something has been done or will be done were told the president personally at the luncheon yesterday to address their concerns. But whatever they get, someone else doesnt get; right . Yeah. I mean, thats still the concern i think with corker too. If youre talking about putting something that brings senator like bob corker on board, then what, you know, what other senator are you losing in the process . For example, these triggers that are being talked about, which i presume is the mechanism that might bring someone like corker onboard or quite unpopular with many conservatives, traditional republicans who say wait a minute. Are we actually going to put something in place that if things dont go exactly as planned, we are going to have a situation where taxes automatically go up . How do we vote for Something Like that . So, yes, i mean, to caitlyns point, it looks like the momentum is certainly on the side of those who want to see this get passed the last couple of days. But until it gets passed and works through conference with those issues out there, i still think you know, talking about a razor slim margin here. And reading wall street editorial pages and others this morning, i dont know if its enough but its something that people are concerned about. Neil all right. Guys, i want to thank you very, very much. Another thing that came about is whats to do with the deduction of state and local taxes. Where it stands right now, well be out of the Senate Measure or at best limited to the Senate Measure, and that is something that new york republican congressman lee doesnt like. He and a number of colleagues from states right now where this is a very, very big for their constituents against the way this is going. And right now, congressman, it seems that the senate could make the situation even worse by not even allowing the house provided writing off 10,000 in taxes, real estate taxes, local property taxes as the house has done. How do you feel . Well, certainly it would be worse for the senate to pass a bill that proposes to fully eliminate the state and local Tax Deduction. It would be progress just like it was progress on the house side if the senate was able to come up and match the house proposal to have a 10,000 property Tax Deduction cap. Its not enough progress for many members, such as myself. I represent a district on long island, my colleagues, congressman king, congressman donovan, we literally had a press conference a few minutes ago. Continuing the fight for further improvements. There are some members of congress who voted no with our concerns. There are other members of congress of the house who voted yes with the understanding that they were going to be improvements made on this issue. So well see what improvements neil i know theres a lot of deal making back and forth, so i understand that. But one of the other ideas i heard is that whatever the senate comes up with to expedite things, they want you guys in the house to vote on that and not go back and reconciling the two. Well, i think there would be a whole lot of other people who voted yes on the house bill who would vote no. There are many members. I spoke to one principled member of our conference a little while ago, and he said its a nonstarter for him and others not to go to a Conference Committee. We have a process. We passed the bill in the house. You pass Something Different in the senate. This is a very important bill, so you dont just try to pass it to get it done. You try to get it done right. And i strongly support the idea of not just trying to get it done, but getting it done correctly. Neil all right. So another idea this invention and you dont have to legislate this with me. I know there are things you can do. But Susan Collins of maine is now tilting to be a yes vote, depending on who you talk to, had raised the possibility of raising the keeping the top rate as you have it, you know, in the senate, their plan brings it down to 38. 5 from 39. 6. But keeping the state local Tax Deduction. How would you feel about that . Well, you know, that would actually be interesting. I would have to run some numbers on the difference for people who right now are in the 39. 6 bracket for many of them, their largest itemization is the state and local Tax Deduction. Neil they would definitely come out ahead. Theres no doubt. I can just do a rough guesstimate they would come out ahead. But im told shes going to run in the resistance on that. But that might be a way to bring guys like you around it; right . Yeah. So im analyzing this from a few different dynamics. We were just talking right now about that 39. 6 bracket, that top bracket, you have middle number people half of my district, for example, itemizes. They take the state and local Tax Deduction. So any type of compromise, im running numbers not just for middle income, but also lower middle income or upper middle income and also the higher earners because we dont want people leaving our state, and its important for all levels of government to be working on tax relief because people are becoming more mobile, and its becoming too easy to just leave new york city or new york state all together. So thats why all levels of government you have to work for it. As far as this potential compromise, fixing salt would be huge. Very openminded for any ideas that anyone has that would help address this very important concern to ensure that all 50 states, that all americans all across our country, were not picking winners and losers between states and between different income brackets. Everyones coming out ahead. Thats what they voted for november of 2016. Neil all right. Congressman, thank you very much, sir. Good seeing you again. You too. Neil theres been a lot of talk as well about corporations getting, really, the bulk of these benefits here as if the people who worked for those corporations would not. We can leave that to debate another day. But what if the corporations then take their lowered taxes and plow it back into their stock or buy more stock or cut their dividend and they dont hire people or their equipment . If anything, they might buy out some competitors and the interim effect would be fewer people with jobs rather than more. Near term. Then what . Then have republicans gone out of their way to appease a group that stinged them in the end . After this zar one of our investors was in his late 50s right in the heart of the financial crisis, and saw his portfolio drop by double digits. It really scared him out of the markets. His advisor ran the numbers and showed that he wouldnt be able to retire until he was 68. The client realized, i need to get back into the markets i need to get back on track with my plan. The Financial Advisor was able to work with this client. Hes now on track to retire when hes 65. Having someone coach you through it is really the value of a Financial Advisor. Neil all right. The world could be blowing up, north korea shooting off missiles, fears the government could shut down in the United States, but just the hint that tax cuts could be happening, well, thats enough to keep this whole thing soaring. Right now, were on the verge of yet another 1,000point milestone. It would be the sixth since election day. Scott, what do you think is driving it . So far, neil, it seems like turnsy, really. The last couple of days have been weird, to be honest. Volatility has been up, your favorite index has been either up big or down big. So theres been a lot of questions. And i think the reality is this, neil. Were going to get something but the fact that this is so watered down, and i think, unfortunately, so depressing from how it was pitched to us back in february and even march when Steve Mnuchin talked to you about it back in the day was seeing what were going to get out of this tax plan, which looks like its going to favor some of the Big Companies that have a lot of money overseas, yes. But maybe not so much the middle class. Maybe not the high income earners. That is a disappointment to me and something that the market is starting to take notice of. You know what worried me, supply side or whatever, but this alternative measure to raise taxes in the event that revenue doesnt come in. So that if we have a recession, that would be good enough the slow down with that to raise tax in the middle of recession. Thats when i start saying all right. Now its getting into crazy territory. What do you think of this . That is sort of the danger because if you have a time bomb, oh, were going to get growth if we do tax cuts. But if we dont get growth, dont worry. It will automatically go up and solve the problem. The problem is what if were in a recession . Its so twisted because now were lowering taxes during a what looks like a wakening economy. Were seeing gdp come up even higher than we thought. And then were going to get a tax increase later maybe in a recession that we have no control over. Its exactly the opposite of what you would want to do, certainly opposite to your point you just brought up. So just trying to fix this with timetables and the future is not really a solution, even though i have also concerned about debt levels over time. But garage magically pick a year that you think you can raise taxes to fix growth that didnt happen from the tax cuts this year. I think the tax cut is really big, even though, you know, troubles the biggest ever. Net tax cut, its not so big. But the actual action going on is so much more massive than anything youve seen in so long where its, like, radically changing the tax code around, where theres a huge break to corporations. Its great. But then theres also the whole Housing Market is going to be treated totally differently. So many deductions. Like, i think the actual raw changes are so much bigger than even people think about. You really look at it, and wow, theyre doing that too . Because they all said revenue somewhere else, it doesnt seem like a big, simple tax cut like the bush tax cut. But its really much bigger than anything weve done in a long time. Neil one thing, companies are free to do whatever they want to do. Fiduciarywise to the shareholders, they buy back stock, they buy out their competitor. But these people who push the big tax cut for them is republican senators who are likely to go for this have put their hineys on the line saying, you know, youre going to hire more folks; right . Youre going to expand your plan, your equipment and all of that and really give the economy a good goose. Not that the markets wouldnt help do that, but can you imagine if they dont . And if they dont, even at least right away, couldnt there still be hell to pay for republicans a year from now . Yeah. Weve seen it time after time, neil. You can lead companies to cash, but you cant make them spend. And i agree. Thats going to be a benefit for Capital Markets if the money comes back overseas from overseas whether its, you know, 2, 3, 4 trillion as trump has said, and it gets spent in dividend increases, buy backs, and so forth. But youre right. If it doesnt lead to more Capital Spending via the appreciation benefits. But if it doesnt lead to more hiring, then it falls flat. And to jonas point despite wanting his hairdo for myself, is that it is a big deal, though. He looks great. I love his haircut too. Heres the thing, neil. Just to jonas point quickly, this is totally kind of falling off the table with respect to the help. Its going to get some of the high income earners and even some of the middle class people depending on how you assess the deductions versus the standard deduction versus the itemization. So the reality is this. I think its totally falling flat on the individual side. The corporate side could be okay. But this is helping out everybody, and it looks like a corporate benefit only. Neil you know, jonas, to that point, besides the great hair economy, which i totally agree with. Do you think that impressions are everything . I think this impression that this is so overtly, you know, skewed to the rich. I just dont think thats lies, but im not going to get into that. I will get if thats the impression, if thats the one thats being pushed on people without getting under the hood and looking at this thing, thats what the president is trying to address today in missouri. That presumably is what republicans will try to be addressing when they go back to their constituents. How is that going . Okay. First of all, its very difficult to cut taxes and not have it skewed toward the rich because of the way taxes are paid now after lots of tax cuts. And remember, obama never raised taxes back to where they were under clinton for the middle class and lower. So its harder to cut taxes even more. Very little taxes are paid at this point on the federal state. I dont want to talk about the state. The bottom line is you cant have the highest Corporate Tax rate in the world. Does that mean theyre all going to hire people . No. Its already adjustable to hire someone as a corporation. If you need to hire someone, youre going to do it whether the taxes are 20 or 40 . Neil there is a significant delay, though. Ronald reagan found up to months delay. Again, im for tax cuts. In the future, i think theyre going to be zero because countries are going to move to do that. As far as the rich individual issue and, again, this is more of a Corporate Tax issue in that i see this as a tax increase in a lot of individuals. This is not as much of a break as george bush did. Neil not at all. Not even close. Not at all. A lot of the high income people, half million are in the states where theyre losing a deduction here. This is not a handout to somebody making 800,000 in new york city at all. That was with george bush. This is, again, the corporate level and not certain corporations that are already paying low rates are definitely getting a tax benefit to be more competitive with other areas. This is really not again, the state tax area, thats debatable as a handout, but i dont think the income tax code is changing in a bay that is radical to highincome people, other than the pass. And even thats a little unclear because a lot of those guys. Neil and to be fair, were mixing financial metaphors here and lumping them in with the very rich and the individuals of that company as it gets to be messy, but its just not accurate. But i dont want to necessarily bore people to say that that argument is to your point, guys, its not quite right. If anything, this thing is sort of like a blah on the individual front. But on the corporate, its a big deal. Guys, i want to thank you very, very much. All right. We have the dow up 80 points right now on the verge of a 6,000point milestone here. What will close the deal . Well, probably starting debate on this thing maybe a couple of hours from now. Then the 20hour clock to get to a vote. That right now a lot of folks seem to be thinking could go the markets way. Could go the republicans way. Could go the president s way. After this whcold sore. Et you . Grab lunch . Cold sore. When a cold sore takes over, campho pheniques topical anesthetic plus antimicrobial action soothes pain fast. Whats for dinner . Meat loaf. Camphophenique on, cold sore pain gone. Traders theyre always looking for advantages. The smart ones look to fidelity to find them. We give you research and datavisualization tools to help identify potential opportunities. So, you can do it this way. Or get everything you need to help capture investment ideas and make smarter trading decisions with fidelity for just 4. 95 per online u. S. Equity trade. Fidelity. Open an account today. Neil all right, some of you have heard this before, the United Nations is going to hold an emergency meeting on north korea, talk of stiffer sanctions, the president himself promising more sanctions. Will that do the trick . With us brian babin, it runs in that family. Congressman, good to see you. Thank you. Great to be with you, neil. Neil you know, this does sound like a familiar script, sir, that is have an emergency meeting, let the north koreans know how angry we are, how outrageous their behavior, is and nothing comes of it. What do you think . Well, weve been using the strategic patience policy with north korea for many, many years. Decades, and look where its gotten us. They have an hbomb, a thermonuclear device now, theyve got an icbm, that apparently can hit the continental United States. This has obviously not been working, and i dont know how effective these sanctions are going to be. I think, and the terrible event that north korea doesnt make the right decision here, because its up to them, to begin to cooperate, we have to have military option on the table here. Neil what would the military option be . Well, i think stating that specifically would not be a wise thing, but i can tell you that in classified briefings, i think that secretary mattis, the president , department of defense is doing all they can, and this new policy, i think, is what its going to take. You know, and the other side of the aisle seems to think that this is this crisis that were in with north korea is all trumps doings, and i dont think anything could be further from the truth because we trump has not created the president has not created the situation, it has been created and created alone by north korea itself, just hellbent to become a Nuclear Power and capable of blowing away millions of americans. And i dont think this president is going to stand for that, hes going to take care of the United States citizens, thats his duty, its our duty as well here in congress, and we want north korea to begin cooperating and get off of a Suicide Mission from what it looks like. Neil you know, i always wonder, congressman, if you think about it, whether the chinese could control this any better . Im sure, and ive raised this with a lot of guests, the north koreans gave the chinese a headsup about the missile test. I dont know if then the chinese let us know, hey, theyre going to conduct another missile test. Theres something in me, and i know what theyre talking about freezing funding and Banking System for north korea, i dont know, do you trust china to help us out with this . Absolutely. Sdpoipt commend the administration for getting the help so far that we have gotten from china, because china absolutely, you know, i think, they have a lot of influence over north korea. So im simply in hopes, in great hopes, that china will continue and do a lot more than they have done so that we can defuse this terrible situation that were facing. Neil do you think right now, russia, theyve had very choice remarks over the last week, congressman, i think their finance and Foreign Ministers talking about apocalyptic events, its getting to that point now in north korea, what did you make of that . Well, you know the russians are going to be the russians just like they were the soviets. Theyre going to try to give out misinformation, they want to stir up confusion and problems, theyre an adversary, theres no question about that. China, the last thing they want is a nuclear war or even a conventional war on the korean peninsula, and so, you know, i think we need to keep a weathered eye out on putin and the russians and continue to work with china and lets see how the new sanctions are going to work . I dont have a whole lot of faith in them, but like i said at the beginning of this conversation, we certainly need to have a military option as well. Neil if i could switch to domestic issues right now, congressman, and this idea thats been bounced around to speed up approval of the tax cuts, assuming the senate votes to support them. At least their measure that they submit it to you guys in the house for a straight upordown vote. How would you feel about that . Well, we had a Conference Meeting today. We certainly want to go conference, and straight upordown vote just kind of depends exactly what they pass, and theres still a lot of conversations going on. I am absolutely in favor of giving america the badly needed tax break and tax reform package that they so desperately deserve after having waited since 1986. That was the last time we did it. This economy is obviously cannot be taxed or spending cut to get us out of the debt problem and Economic Situation were in today. We have to grow our way out of it. I think the past nine or ten months of President Trumps policies show that absolutely he knows what hes doing. Theres over a Million People back to work. Stock market hitting high after high. Just a great amount of optimism. Just some good things economically that are happening under President Trump. So we we have to get something to the american people. We have to get something over on the president s desk that he can sign, but hey, im not going to vote for something that im not too familiar with, yet, so im hoping that we will have a conference on this bill. This package. But well see. Well see whats in it and whats in the rest of this week. Neil all right, very good seeing you, thank you. Thank you very much. Neil. Neil you heard matt lauer is out, another prominent media name and the president wants an investigation into nbc, but not over that. After this. Did yon the National Debt . Ssman get elected by talking tough will they stay true to their words . Or did they promise you one thing. Only to do another . Right now, congress is talking about tax cuts that will add trillions to our National Debt and hurt our economy. Its time to tell congress. Dont borrow more money from china. And leave more debt to our kids. Keep your word. Tax cuts shouldnt add to the National Debt. Im heart broken for matt, he is my dear, dear friend and my partner, and he has been loved by many, many people here, and im heart broken for the brave colleague who came forward to tell her story and any other women who have their own stories to tell, and we are grappling with a dilemma that so many people have faced these past few weeks. How do you reconcile your love for someone with the revelation that they have behaved badly . And i dont know the answer to that. Neil you know, she had only minutes before that to sort of put that together, and react. President trump tweeting on all these developments now that matt lauer is gone. When will the fake news practitioners at nbc terminating the contract at griffin that took part years ago. Investigate. All right, you can look at this as a tangent or not staying focused or just the president enjoying a moment to go after those going after him. Whatever. To former new york republican congresswoman nan hayworth and liz harrington. Liz, what did you make of the president s response . I think youre right as he took this opportunity to attack one of his favorite targets. Nbc has been very critical of his administration. So when theyre having a bad news day, i think he takes the opportunity to beat them up over their coverage ever him. But i think the story for nbc is particularly bad when you think about if nbc and andy lack over there, they were the ones that killed the ronan farrow new yorker that he took to new yorker on Harvey Weinstein to begin with. They had the story, didnt decide to run it, and look now, come all the way back to hit them for their Sexual Harassment culture at their network. I think its a Good Opportunity to attack the network when you look at their leadership and how theyve handled these allegations and the story about weinstein and now that its hitting matt lauer. Neil it is tempting to do that and tweet about it, to lizs point, im wondering if the president of the United States, its necessary . I think its a distraction. I mean its coming to close on his first year in office, remember on the campaign trail when he said he would repeal obamacare on day one and build the one immediately, none of those things have happened. Were coming up on the first sunset of his year in office. The media pounces all over it, it fits the narrative, theyre the heroes of the grand, larger story and donald trump is the cartoon villain attacking them because democracy dies in darkness. A prominent tv network loudly announced theyre not going to announce the White House Christmas party and recently the New York Times opinion twitter account changed bioto say its going to use the twitter account to be an advocacy page to urge people, urge those in congress to vote against the current tax bill and tweeting at people to call on congressmen to urge them not to vote for the tax plan, right . Its very clear whats going on here, if we zoom out, donald trump absolutely has a point and people like to see it because they think finally, someone is calling out the media for being ridiculous and thinking theyre so selfimportant andaci acting so gross all the time. Neil its like me saying im not coming to a party but i havent been invited yet. Im wondering, nan, about everything is about focus and the approach and the president is heading out to missouri to make his pitch deemed unpopular for the general public. A lot of it is presented with the public, probably a little bit of both, do you think getting sidetracked on these other issues, for whatever good they do to sort of spread the controversial sex scandals and the like, that it doesnt serve the president well . Well, i think bree has an excellent point about the president taking on the media. The media have stepped all over themselves with apparently having harbored and tolerated within their midst some apparently validated claims and charges of allegation of very bad behavior, so the media are that the moment in no place, if you will, to judge the president , and i think the president is going to capitalize on that. I would agree neil do you mean, they would be less inclined, nan, to go after the president now because they say particularly on these issues, harassment or sexual issues that, look, we have problems in our backyard, were less inclined to go after the president for whats going on in his . I wouldnt necessarily say. That the president has a long history, we know, with nbc, when he mentioned certain things about nbc, it does have a certain ring of truth about it. He probably knows where some of the scandals are buried. But more to the point about the president s approach, you know, whenever he denigrates the media, hell get a lot of sympathy from the folks he needs to be front and center with him in the public to support his legislative agenda because there is so much feeling in the country, thats why he was elected, that its the media, the Mainstream Media especially, elites against us and have feet of clay as the president and all of us are learning and the president is emphasizing. Is i dont think it hurts him at all. Neil liz, does this make any difference at all in whether tax cuts happen or not . I dont think so. Neil you notice everything comes to that . Im such a nerdy, selfabsorbed person, i think everything comes back to the tax cuts. What downing of that . I dont think it affects tax cuts at all. Trump attacks the media because its an easy target and any time he does this, the media overreaches in their reaction. Neil are you saying were thin skinned . [laughter] maybe not so much on this network, but flip around the channels, pretty thin skinned. Just the other day, trump makes a throw away joke about Elizabeth Warren lying about being native american and then for 24 hours on all the other cable networks, its all the coverage about his motives and republicans are racist because of this. Its like its a throwaway line, a joke that he made, and their trump dearrangement syndrome, they go overboard. Trump attacking the media is an easy target and they go overboard with it. Neil is it easy given their own peccadillos . I dont think so at all. You know what i think about tax reform since you want to talk about that. Neil yes, indeed. I dont think its going to happen because republicans have proven themselves to be completely worthless and unable to do anything. Its not going to work, we all know that, right . Media knows that and donald trump knows that soon, and thats why hes going on the offense because its everyones favorite punching bag. Neil bree, im not going to your party. So there, done. Youre not invited dont worry about it. Neil takes one to know one. When i heard that one, were not going to the White House Christmas party. Well, youre not invited. Well have more after this. Retail. Under pressure like never before. And its connected technology thats moving companies forward fast. Ecommerce. Real time inventory. Virtual changing rooms. Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. Neil all right. I want to take a look at this. Two Companies Looking to go public facing a whole bunch of problems, not good timing, ubers Third Quarter losses widening losing 1 1 2 billion and buzzfeed laying off as many as 100 people after revenue miss. This things happen, putting it ahead of a new Public Offering makes it happen. Attorney general Jeff Sessions announcing new steps to address the Opioid Crisis in this country. Gerri willis has the details on that. Hey, gerri. Reporter thats right, we have details on the Opioid Crisis and the attorney generals efforts to defeat them. He delivered a press Conference Today in washington talking about three things he wants to do to fix the Opioid Crisis. Number one, he wants to spend more money. Some 12 million that will be given to localities, states, officials as well to zero in on the problems across the country, and secondly, there will be a new dea office, a restructuring of the dea leading to the creation of the new Field Division in 20 years in kentucky. Manned by 90 special agents and 140 task force officers, it would serve kentucky, tennessee and west virginia, a move sessions said would align the forces within the appalachian Mountain Region and opioid coordinator, a opioid quarterback as sessions described it, to work closely with prosecutors to make Law Enforcement effective by coordinating state and local Law Enforcement forces on the ground. We will turn the tide on the Opioid Crisis, one american, he says, dies every nine minutes of drug overdose, listen. We will not feed one city, neighborhood or one street corner, to gangs, violence or drugs. We need to use every lawful tool we have, and we will. Reporter so neil, as you know, the president has been criticized for not doing enough about the Opioid Crisis, but sessions today commending the president for what hes done for the crisis including the money thats being spent and the personal interest in the cost. Neil, back to you. Thank you very much, gerri. In the meantime, trade a big issue at the los angeles auto show, this is sort of like the big sort of preview of whats neat and cool in the months to come. Hillary vaughn live with some of the big ceos who are there. Hillary . Reporter hey, neil, President Trump has pressured Car Manufacturers to build their vehicles here in the u. S. , but its not just american based Car Companies that are taking the hint. European manufacturers are planning to invest more here, too. German carmaker bmw viewed their all new electric roadster here. I talked with the ceo who says they are planning to ramp up investment in the u. S. And build more of the german borne cars here in the u. S. If you know what we are doing, we invested 8. 1 billion dollars in spartanburg in south carolina, and about to invest more. Its our biggest plan globally. As a matter of fact, we are able to take the value of the cars with the company with the highest value exported from this country. So im very confident about this. Reporter he thinks the u. S. Economy under President Trump is going in the right direction and feels positive about his policies. Neil . Neil you know, hillary, when youre there and a lot of people talk about, obviously the wind at all of the guys back is talking about the economy and not only here but across the globe, i would imagine tax cuts and might provide some americans to buy more vehicles, thats something they got to like, or what . Reporter oh, of course, tax cuts obviously huge, and part of that plays into why theyre choosing to invest more money than they already have in one of the biggest plants in the u. S. Because the climate here, the economic road map for them is positive and they feel comfortable putting more money in the u. S. As opposed to their home country of germany. Neil a little bit more reward for that. Hillary, thank you, very, very much. Take a look at dow right now, off 70 points, close to another thousandpoint milestone. I love this chart here, if we can show it. It went out without any warning. Shows what would be the 6,000point milestone since election day, and this has gotten to be a routine here and, you know, the drill that people say, this has nothing to do with the president , its been steadily going up, the markets way over the last, eight, nine years, others point out it picked up considerable speed with his election, no matter where you stand on the issue, it is unabated any. Doubts that the prospects of tax cuts arent galvanizing influence, think of this. The markets jumped yesterday when he got out of the Budget Committee and every single republican voted to get measure out of that senate Budget Committee. Every single one. Now every single democrat on the same committee voted against it. That was expected. Every single one of the republicans, well, that was not. That is still the optimism that has stocks continuing to move. Well have more after this. I dont know. Theres so many opinions out there, its hard to make sense of it all. Well, victor, do you have something for him . Check this out. Td ameritrade aggregates thousands of earnings estimates into a single data point. That way you can keep your eyes on the big picture. Huh. Feel better . Much better. Yeah, me too. Wow, you really did a number on this thing. Sorry about that. Thats alright. I got a box of em. Thousands of opinions. One estimate. The earnings tool from td ameritrade. Neil you know one of the rohns why people are so bullish on this market. You can take tech titans, ones really got us here, socalled fang stocks, some of them, that have been leading this party, they can get obliterated, not obliterated but they are falling substantially because another group comes in and makes up the difference and then some. Financials, like banking institutions, some old brokerage house, money sent are banks, theyre doing fine. As are a lot energy stocks, related. That has the dow closing towards 24,000, a little more than a month after it crossed the 23,000 level. This would be the sixth time since donald trump was elected that we are on the precipice of another 1000 point milestone. It is remarkable to watch but a lot of techs who follow this stuff, i think a lot of them read chicken entrails and tea leaves, but that something supposed to be ingredient of a bull market. Finds one group falls out of favor but another group fills slack. That is what is happening with financials. That is remarkable. The dow in record territory easily again. To trish regan. Trish incredible. 24,000 could happen next hour. Neil, thank you very much. Neil you got it. Trish president is speaking to the american heartland, speaking to hardworking americans to assure them tax relief son the way. This as the market hits yet again new intraday highs on both dow and nasdaq. S p, i should point out. We backed off of those highs on the s p 500 but, take a look, up 81 points there on the dow. It is quite possible, everyone, as we look at this market at 23,917 we are very close to a new record of 24,000 on the dow. Could it happen . Could it happen in the next 60 minutes . Were watching it