Gather before the cameras at exactly the same time. Led by republican senator rand paul who demanded, banged on doors and said let me see the plan days ago, along with the Freedom Caucus. It is reported that they will kill it right then and there, were standing by for that, cameras are roaming the halls trying to figure out where its going to happen. To cut through the drama, we have two doctors, tim murphy, whats the cost and will it pass . Dr. Steven classco, an expert in obamacare and should it change, what could the device makers mean for the stocks and innovation for you and your health. As the health care and drug stocks are hit on the uncertainty, the dow industrials trying to come back here, down 17 point had. Been down more than 50. The short seller sharks are swirling around snap stock. Form wall street banker turned author William Cohen will try to convince you why wall street not only matters but should be celebrated. And nintendo crushing it with new console, better than wii . Really . Give you the numbers in a second. Were less than an hour to the closing bell. Lets start the countdown. I need to show this to you. We have breaking news. That didnt take long. Short sellers are reportedly desperate to bet against snap stock which just of course went public last thursday. Pulling back another 12 . They woke up and realized not profitable. Now overall down 22 from high hit on the ipo day, which, of course, was when it skyrocketed. In the meantime, as we head into the allimportant final hour of trade with stocks teetering on first back to back downdays since january, i call this almost flat at the moment. The market is attemptingo come back, while we are further from dow 21,000. The dow is only down 17 points. Low of the session down 50. S p 500 down a measly four points, barely a fraction of a percent, and the nasdaq nearly flat, down 4 point. Well pull out individual stocks. Dicks Sporting Goods in the penalty box. The stock getting hammered, down 9 . After the retailers earnings beat expectations but outlook for 2017 was gloomy. Its pondering changes to the brand lineups at its stores. It doesnt have a lot of visibility how it will do. Supermario jumping for joy as shares of nintendo take it to the next level. 27. 68, jumping 3. 5 . Why . Sales figures for new switch console are rolling in. Everybody was wondering what they do. Apparently they are a gamechanger. The video game maker is revealing that nintendo has sold more of the brandnew consoles in the first two days than any other console rollout in the companys history. The switch is make or break. The Company Wants to stay in the hardware objection, friday, first on fox business, nintendo of america ceo with me live on what happens beyond mario and zelda. For those of you who dont know, mario and zelda are the first two games that are rolled out. We know the concept of the games. Are we on the verge of the first shots fired over the republican civil war over the repeal and replacement of obamacare. This hour, tom price joined the White House Press briefing to pitch, push and get pueled with questions about the gops obama replacement bill, vowing that the decisions will not be made by the federal government but by patients and their doctors. Three phases of this plan, one is the bill that was introduced last evening in the house of representatives, the start of all of this. Second are all the regulatory modifications and changes that can be put into place. As you all well know, the Previous Administration used regulations to a faretheewell. Over 5,000 letters of guidance in the like, and were going to go through every single one of those and make certain, if they help patients, we need to continue them. Liz it is still a work in progress. Well, that doesnt matter to a group that could provide vocal opposition within the Republican Party in this hour. Were hearing from our spies in the hallways there at the capitol hill that about 25 minutes from now, the Freedom Caucus plans to hold a competing News Conference at the same time President Trump holds his white house meetings, and the math is critical to House Republicans right now. The breakdown of the house is 237 republicans to 193 democrats, meaning the gop can only lose 21 votes on their side before heading across the aisle for help which we know democrats most likely will not give them to. Peter barnes at the white house. I found this News Conference very interesting, where secretary price answered many questions but was quite honest in saying some of this isnt done yet. Thats right. The white house is asking for patience on this. Sean spicer following up secretary price saying listen, House Republicans just unveiled their bill yesterday, but as you mentioned, it is getting attacked from multiple places within the republicapa including importantly the Freedom Caucus, thats a group of about 40 or so very conservative House Republicans and you just did the math yourself, liz, if the 40 members voted as a bloc, either House Republican leadership would have to pick up votes from the democrats who say they absolutely are not going to provide votes to repeal and replace obamacare or the bill would go down. So this launch of this repeal and replace legislation is already hitting headwinds. You have republican senators saying, rob portman from ohio, if you pull back medicaid, the health plan for the poor, were not going to support this bill either. So the bill getting attacked out of the starting gate, liz. Liz i noticed that, it appears that there is one stick point, and its the tax credits that rise with age, and youve got a lot of republicans who are fiscal hawks, you know this. That looks like a new entitlement program. Reporter thats the thing the members of the Freedom Caucus are concerned about as well as other provisions. Well hear from them in about 30 minutes as you mentioned. Liz what do they have against it beyond the tax credits . I want to get to gerri willis. Some are saying this is like throwing a can of paint over the old obamacare plan. Thats right, liz, heres what were looking at. Obamacare appears to be dead, is replacement dead . Gop infighting over the obamacare replacement made public last night. At issue, the tax credit, that is advanceable, refundable credit based on age of 2,000 to 14,000. Thats the highend. Drawing fire from conservative republicans who say, hey, its a giveaway or new entitlement that they cant support. One member of the Freedom Caucus calling it obamacare 2. O0 in the tweet. 150,000 for joint filers to satisfy conservatives before releasing the plan, but it may not be enough to draw their support, and thats not all, there are also objections to the fact that the cadillac tax, was not eliminated. It is laden until 2025 nord cover the heavy costs of the replacement plan. The well to do have to wait for tax relief. 0. 9 medicare tax, a payroll tax, they dont go away in the start of next year. And its not conservatives who are upset. More are too including four moderates in the senate voicing concerns over the end of the Medicaid Expansion. 31 states decided to expand medicaid under obamacare. And whats becoming clear is that the release of the obamacare replacement from house leadership, just the start of the battle for the future of health care in this country. Liz . Liz its unbelievable. A lot of time to get something together and be in cahoots and youve got both factions arguing against each other. In just a second. Well hear from representative tim murphy part of the doctors caucus, but in the meantime, you guys, if you own health care, hospital or pharma stocks or biotech, lets check on that right now. Adam shapiro at the new york stock exchange. Look, its big impact, im not sure the traders know where the names should go . Reporter thats part of the problem is the uncertainty and the tweet from President Trump working on a new system for more competition in the drug industry to deliver on promise lower drug prices. Novartis is down, merck and company down, amgen down, glaxosmithkline also down. Look at the biotech companies. The uncertainty driving the stocks down. Gilead science, Johnson Johnson was up today, but Regeneron Pharmaceuticals were also down, theyre looking for guidance, not going to get it soon but theyre looking at it, liz. Liz we may get guidance soon, i want to keep viewers on notice here. The Freedom Caucus, according to chad pergram, our super top producer in the congress, he is saying Freedom Caucus is clustering in one of the halls and will come before the cameras to say what they do not like about it and whether it is, as gerri willis put, it dead on arrival. The Freedom Caucus is a bloc. Stay tuned for that. Weve got our cameras chasing everybody. Closing bell ringing in 49 minutes. Boeing releasing the 747 scheduled to reenter service in 2018. Dish flying higher after it was announced the Satellite Tv Company will replace Linear Technology corporation in the s p 500 on march 13th. So dish gets the big invite to be part of the s p 500. Its up 4. 63 . Up next, billionaire hedge funder steve cohen side lined by the sec. You remember Charlie Gasparino said his return to business is starting to look more likely . Well, guess what . Chlie s mo on this. More granularity, more details. 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Or keeping a Hotels Guests nocuttinconnected. I to 35,000 completely cfans. In. Businesses count on communication, and communication counts on centurylink. Liz weve got a stock alert, make that two stock alerts, a tale of two tech stocks, facebook versus snap. Story on the screen tells everything. Snap is well below opening day low of 23. 50. If youre driving and listening to us on xm 113, hello. Ill tell you what snaps trading at 20. 92. Short sellers are doing a pileon along analysts, sited huge cash losses. It is down. Liz charlie, you and i with flower crowns is keeping it above. One analyst is calling it a, quote, lottery ticket. Back to the facebook part of this. Snaps chief rival facebook has been on a tear hitting alltime highs two days in a row. Facebook is up two pennies. 137, actually no, earlier the alltime high. And then just yesterday week broke the news on countdown that billionaire and ceo steve cohen is about to make a comeback, looking to make the comeback in the Hedge Fund Industry because he is now, we hear, meeting with investors and marketers. Charlie gasparino broke the story yesterday, and youve got more details on the stock. Right, i want to say that i got a lot of feedback on the story yesterday. This is somewhat captivating the market, steve cohen an icon of trading, ceremoniously booted out of the Hedge Fund Business because his firm was convicted and agreed to plea deal with the u. S. Attorneys office on Insider Trading charges. Hes been booted for failure to supervise people that did commit Insider Trading. Liz right, st and two of the people fainted, one in the courtroom and one when the feds showed up on the doorstep. One had the case reversed, michael steinberg. Liz correct. Be that as it may, cohen is making preparations to get back in the business. Its a hot topic on wall street, and heres what we know is that associates of his has been recently meeting with third Party Marketers. What do they do . Third party markets or attract International Investors to invest money into the new entity. Theyve been spending a lot of time, i understand, meeting with the third Party Marketers who have the connections with big Institutional Investors bring money in. What i understand, there is appetite. Whats interesting hes obviously starting it now. Going to open early in 2018 when his ban subsides but doing it at a time that hedge funds arent doing that well. Steve cohen made a lot of Institutional Investors a lot of money. They what you want to about the suspicions of Insider Trading. Liz will people want to touch him with a 10 foot pole, just d by the feds again . Heres the thing, what cohen is hoping for is a lighter Regulatory Environment under president donald trump. That does not the same scrutiny will not be on him that was on him when president obama was in control. Liz President Trump is a fair guy is doesnt want people ripped off either way. Okay, let me give you a little timeline here. Steve cohen is close with Chris Christie who is close with donald trump. Liz okay. That helps. Timeline helps. Cohen is likely, from what i understand, from the third party market, likeo reopen thHedge Fund Business through Stanford Harvard capital. Liz stamford, not stanford. Yes. Manages massive net worth. Sac capital has obviously closed down but created the vehicle to get back in the business, so meeting with third Party Marketers, telling them he wants to get back in 2018, the return of one of the great and most controversial Hedge Fund Managers ever. Liz get the applications in, everybody. About what i understand, he is hiring for various marketing and various other jobs. I mean he is staffing up right now what people are saying, close to him, to get back into business in 2018, and all of this is indication. Through a spokesman, he did not deny any of this. Liz there you go. Thats our charlie. Thank you. He didnt deny it. He didnt deny it. I sent him everything. Liz closing bell, 39 minutes away, the white house makes fullcourt press for the obamacare overhaul. Weve got congressman tim murphy. Hes a member of the House Republican doctors caucus. Hes next. Were going to ask him can this thing pass . And from wall street to the white house cabinet, newly minted secretary wilbur ross making waves at the commerce department, and hes talking to fox business in less than an hour. Youve got to stay tuned for the interview. 4 00 p. M. Eastern. After the bell. When they thought they should westart saving for retirement. Le then we asked some older people when they actually did start saving. This gap between when we should start saving and when we actually do is one of the reasons why too many of us arent prepared for retirement. Just start as early as you can. Its going to pay off in the future. If we all start saving a little more today, well all be better prepared tomorrow. Prudential. Bring your challenges. Liz breaking news, folks. I need you to look at the markets. Whe looks like were definitely coming back well off the lows with the s p and nasdaq down just three points, the dow is down 10, we have this breaking news. The congressal Budget Office is saying that the Treasury Department will have to use, extraordinary measures, you know where there is going to avoid hitting the debt ceiling. The date right now . March 16th. The march 16th the Treasury Department says well hit the ceiling. I always say to you guys, the debt ceiling you have to decide whether to raise it, it is the card which the government keeps running. Were watching this very closely. It is long been told they dont have to tangle with the debt limit until summer. Now the cbo is saying march 16th. Steven mnuchin the treasury secretary, is faced with the exact same conundrum and jack lew and Timothy Geithner and everybody else before him is faced with. Whether to raise the debt ceiling. Well see what happens. Speaking of spending and needing credit cards, well, how much will the new Health Care Act that the republicans have been put forth, how much is it going to cost . Well the cbo hasnt scored it yet but let me bring in republican congressman tim fur my. He is in from pennsylvania, serve on republican doctors caucus. We are glad to have your perspective. Will this pass . Many voice, one of them, representative david bratt of michigan republican, said doa, not going to happen . There is still a lot has to be communicated with members. Congressman bratt is from virginia. Liz im sorry. Here is the thing. Look at current state of affairs, when you talk about us hitting the debt ceiling next week a lot of that is because the massive debts that the Affordable Care act has caused. Certainly not affordable to the federal government. It added massive debts to this. It spent hundred of billion of dollars. Or gone spent 200 million to sign people up. Nobody signed up. That list goes on and on. Besides the big picture, they can not afford it. You have people, twice as many people who either said i will say the tax penalty or waive a for it or not sign on tax form. We still have problems. Liz looks like there are incentives built in . You know, doctor, having said a doctors daughter, here is what happens to the uninsured. They wait until the first moment. They show up on the hospital doorstep and you and i the rest of americans who pay our taxes, pay for insurance end up paying for their surgeries because hospitals dont turn them away. Obamacare tried to force people to get insurance. What is the republican plan to get people to get insurance and how will that be better scored by the cbo . Well look, their approach is more the pitchfork, forcing people to sign up or they face a penalty. A lot of people said they would take the penalty. It didnt really bork, instead of seeing reduction in outpatient care, you saw increases in inpatient emergency care. There is much left to do. With regard to these costs people will see themselves getting tax credit to offset their costs and drive costs down, number one. Number two, it will be more competitive. People have wide range of plans to choose from. Before you had only one type of plan to choose from. You could have higher or lower deductibles. By higher deductibles, with lower premiums, you couldnt afford to get sick. This allows individuals to get more. The carrot, people will sign up because it will be more affordable. They can buy the kind of insurance right for them. Liz let me tell you what were looking at the other side of the screen. Its a nest of microphones set up outside of the capitol and we are expecting that senator rand paul, who is republican, but very much upset that he was not asked to be part of the, markup of this, he of course a doctor as well, on tall poll exist, members ophthalmologist, theyre about to get in front of the microphones, were hearing from our sources no way they vote for this thing. Specifically because they are fiscal hawks, because they say, while new one cuts revenuegenerating parts of obamacare, the tax credits are incomebased, are not incomebased rather. They are age based. They would rise. They dont want taxpayers to be floated with a new entitlement. What say you on that. There is changes in terms of who is eligible for those. It took us years to get into this mess. We know its a disaster. If they have a plan and solid ideas what to do, but not cut people off, not some people without insurance, we need to hear that. The fundamental thing we need to continue to work on changing how health care is delivered. Prices still risen far above the average income and far above the other things we face. We have to continue to approach those things. Lets hear those other ideas but this is a plan solidly looks at an alternative to the runaway costs of the Affordable Care act that have hurt families. Liz the cost, again so the cbo, can, do you have any idea, sir, when they will be able to read the 123 pages of this . By the way, obamacare was 974 pages. Appears to be much simpler but again it is not complete. When will the cbo score the actual costs . I think that is what fiscal conservatives are waiting on . Right. Liz even centrist republicans too, not to mention democrats. If this comes anywhere near the cost of obamacare, see . Well, listen it will not cost a trillion dollars. It will have some savings in there. We expect the cbo score soon. I dont know exactly when that will be. It comes down to this, not only what it is costing but costing the individual. The individual couldnt afford it, even those that signed up couldnt afford to get sick. Liz stand by. This is representative mark meadows. Right with him is representative sanford. You see the far right, we have rand paul. This is the Freedom Caucus. Theyre talking about whether they will vote for thing. I had the opportunity to campaign with President Trump all across North Carolina and one of the things he talked about was repeal and replacement. When he said that it took on two different meanings. A repeal to many, meant we would repeal the entire obamacare plan, all the taxes, all the mandates, the Medicaid Expansion. When he talked about replacement, it took on another meaning to others which it meant we needed to cover the preexisting conditions. Making sure that people didnt get kicked off of their Health Care Plan. Making sure that there was an adequate. I can tell you those two things are focused not only house Freedom Caucus, my good friends, senator lee, senator rand paul, senator ted cruz. As we look at this today, well talk about a number of scores in the upcoming days. Cbo scores and what score that this means and what does it mean for the American People. I can tell you there is one score that the American People will Pay Attention to, and that is, does it really lower their Health Care Costs and their premiums . That is the only score that really matters. If this doesnt do it, we need to make sure we find something that does do it, and with that i will turn it over to the gentleman from ohio who plans to introduce a piece of legislation that really repeals the Affordable Care act, the gentleman from ohio, jim jordan. Thank you, mark. Yeah, mark is exactly right. Our goal is real simple to bring down the cost of insurance for working families and middle class families across this country. In an effort to do that we think you have to get rid of obamacare completely. Tomorrow i will introduce the bill that every single republican voted on just 15 months ago, the bill that actually repeals obamacare. Our plan has always been repeal in one piece of legislation. Replace in the other. That replacement we talked about a few weeks ago is the bill sponsored by dr. Paul in the senate, and mark sanford in the house. Make no mistake, there are three plans out there. There is the Cassidy Collins plan, if you like obamacare you can keep obamacare. There is leadership plan that was brought forward which i believe if you look through it is obamacare in a different form. Then there is our plan. That is consistent what we told voters we were going to do. Repeal obamacare. Replace it with a market centered, patient centered, doctor centered plan brings down cost of insurance, brings down cost of health care and provides affordable opportunity for Health Insurance for all americans. Think about this. We put on president obamas desk a bill that repealed obamacare, got rid of every single tax, got rid of the mandates, and now the first thing republicans are bringing forward is a piece of legislation that were going to put on a republican president s desk that says we repeal it but keeps Medicaid Expansion and actually expands it, that keeps mef the tax increes, that is not with we promised the american peoplwe were going to do. So our plan repeal it, clean repeal. Just like we all voted on before. Separate legislation to replace what we currently have with a model that we think will bring down the cost of premiums for the hardworking people of this country who sent us here to do just that. With that i want to turn it over to the sponsor of our replacement plan in the senate, dr. Rand paul. Doctor i will introduce a companion bill to congressman jordans plan a clean repeal. Well do that in the senate today as well. One thing has united republicans in 2010, when we won the house, in 2014, when we won the senate. And in 2016 when we won the white house. This doesnt divide republicans. This brings us together and that is complete repeal. Clean repeal. As congressman jordan said we voted on this last year and every republican voted for it. That is what we should do again. But we are divided. We have to admit we are divided on replacement. We are united on repeal but which are divided on replacement. What is the best way to get past this impasse . Vote on what we voted on before, a clean repeal. Subpoena rate out the replacement plans. Conservatives have a replacement plan. House leadership has a replacement plan. Im sure democrats would like to go back and vote on the aca again. Vote on all the replacement plans and see what happens. All right . But lets vote on clean repeal. The only way i think this gets done to separate the issues. Separate out clean repeal from replacement. Lets get it done, repeal unites us. I think we can get that done. With that i li to introduce my colleague and friend, senator mike lee from utah. What has been introduced in the house in the last 24 hours is not the obamacare replacement liz what you are hearing now is that this group of fiscal conservatives, many of them from the Freedom Caucus, are saying they do not think that this Gop Health Care plan just put forth today is the right one. You have jim jordan of ohio, in essence saying replace it with a marketbased plan. Then rand paul couldnt have been more clear. Said you have to get rid of the whole thing and then start over. So what does that truly mean . Let me bring in dr. Steven klasko because he has been on both sides of it. He has been a physician. He has a health care company. On top of it all he has ideas how to make obamacare better by changing it to more what the republicans want. And it looks like the sticking points very much have to do with this group of Freedom Caucus members with the fact they feel there are still some taxes in it and things that still look like entitlements. Liz, it is great to be on with you. Liz okay. So, let me ask, is senator paul right . Well, this might be the ending of sopranos, you waited eight years and it was Something Big and it was black. Liz what happened there . Yeah, exactly. Senator paul is right. This is obamacare 2. 0 and there are winners and losers but when we talked the last time we said the Affordable Care act gave a lot more people access to a broken, expensive, fragmented, ines quitable, occasionally unsafe Health Care Delivery system and hope the Delivery System would transform and it didnt. This really changes the math a little bit around giving more people access. Liz lets talk about the math t does cut nearly all of the Revenue Generating parts of obamacare which included the very controversial medical device tax. Medical Device Companies were taxed of 2. 3 on them. Everybody said that is antibusiness, and it will cut down on innovation. And im talking about Companies Like j j or cyberknife or da vinci. All of these great developments, i think we have some video of these things that really helped patients. The pump that would help people who have all kinds of props. So as you look at that, that has got to be good. Then how do you pay for the republican plan . Yeah, so youre exactly right about the medical device tax. Im on the Corporate Board of a great medical device company, teleflex. One of the myths of Affordable Care act more people would need medical devices so the tax makes sense. That is not how it worked out. Now what will happen that 2. 3 will go to innovation and r d. That will be better for our patients and the shareholders. The how you pay for it, the simple fact is, i think senator paul was right, until you really transform things to cut undo the costs, whether that is pharma costs or malpractice or how we deliver care or who is doing it right or who is doing it wrong, at jefferson, liz, were expanding telehealth, getting people out of the e. R. , the way we get paid penalizes customers. Liz let me bring in President Trump because right now is he expected to meet about certain members very much involved in the getting the votes. Right. The vote will be tough. As soon as we get video to this, we will get it to you. Important to say, President Trump, right away as this thing was unveiled said, it is up for discussion. It is up for review. He has shown he wants to compromise on this. I would imagine i would like to hear from some democrats as well. Now, they get to keep two of the things that were very important to obamacare for a lot of people. People with preexisting conditions would continue to be covered, they couldnt be dropped. Young people up to age 26 could stay on their parents parents plan. The Freedom Group appears to be intransigent. Do you think this passes with a few things added on to it . No, i especially think what is happening now, i think it will be a big debate. At the end of the day if they get it through budget reconciliation i think republicans will block it because it hasnt done enough. If they try to do enough to fet any democrat, i think it will look more like the Affordable Care act. I think were in for a bit of a proattracted debate. This will be conservative republican versus mod rad republican. A lot are up in 2018. Liz i told people to watch the markets that we do have the congressional Budget Office saying we will hit the debt ceiling come march 16th. They are recommending that the Treasury Department must use extraordinary measures to avoid hitting that debt limit. Or else you get downgrade of the u. S. Credit. You know, you got to have the full faith in u. S. Credit, do we not . Right now the dow is down 44. We got close to the lows of the session moments ago. There is all the fighting about this, that, and health care issue. So as we watch about whats happening wall street is watching as well. Why you should not just accept wall street and realize it matters but my next guest says you should celebrate wall street. Can he sell you on that concept . Set author after brand new book on the subject. That is William Cohen, genius journalist and author of the new book, why wall street matters. it just feels like anything is possible here in upstate new york. at corning, i test smart glass that goes all over the world. But theres no place like home. 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Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Liz we need to get you to the market alert. This is articulated by the s p. Why is the s p completely tanking . We broke the news about seven 1 2 minutes ago that the cbo, the congressional Budget Office, announced that the Treasury Department better put in extraordinary measures asap, it is running out of money, the ability to pay its bills. That is called hitting the debt ceiling. The debt limit will be hit march 16th, according to the cbo. Urging the treasury, steven mnuchin, use extraordinary measures to avoid hitting it. What happens if you hit it going through it, youre not paying your business and its a problem. Federal revenues typically go up in the spring because it is tax season. But that would be april. So we cant, its a real problem. Its a real issue. You can bet as we watch these markets, wall street is watching these markets. We just happen to it have the author of the brand new book, why wall street matters. William cohen, a 17year wall street veteran and brilliant author now. Congratulations on the book. Thank you, liz. Liz you were watching the news when we saw the debt ceiling. What was your first thought. I was thanking liz for actually talking about it. Were 10 days away, fewer than 10 days away no one is talking about this were so preoccupied with all this gibberish going on in the twitterverse for instance instead of focusing on something that really matters, which we may not be able to pay our debt as they come due. Liz steven mnuchin, former Goldman Sachs guy, former wall street guy, he has watched from the other side when we got close to object debt ceilings. Watt street says raise the debt ceiling. Dont screw around with this. We have conservatives in washington, get upset bring it down to the wire an some cases we shut down the government. We start going down that path, were 10 days away, people will freak out, frankly. Liz will mnuchin raise the debt ceiling . If its up to him alone . Of course he will. He knows, this guy ran his own private equity firm, ran his own hedge fund. Knows the value and importance of being able to borrow money. Liz congress has to vote on it. If people want to play games with the debt ceiling as weve seen in the past, markets freak out and everybody goes into a tailspin and nothing else can get done. If you want to do what youre supposed to do, raise the debt ceiling in due course, were not in leveraged buyout as a nation. We could be ending up there one day. We have 20 trillion of debt. Donald trump talked about that a lot, trying to reduce that. That is a lot of debt. But were a big, strong, powerful country. Liz he talked about a one trillion dollars infrastructure plan where he said it would be part public, part private partnership. My immediate thought i would ask bill cohen about this, because the private part is often wall street. Now you say wall street matters. Will they get a part of this infrastructure plan and at what cost to the little guy out there. Stepping back, unclear what role wall street will play. One thing, why i wrote this booklet, i think people lost track of why wall street is important. There was so much demagoguing around wall street and yes, wall street had a role, they should be punished and held accountable for that. Unfortunately, lately we forgotten about importance of wall street. I wanted to write that book. Liz this is President Trump live. He is speaking with a group of congressional members. Lets listen in about headlight care. We have a great team. Well have a lot of victories, winds, but we have a great team. Together we do incredible things for the great citizens of our country. As i said during my joint address to congress, i think you mostly liked that, right . I loved it. Were witnessing a renewal of the american spirit, a surge of optimism and a new National Pride which is sweeping across the land. I see it. There is such spirit. Whether for the business things were doing or whatever. It is such spirit that we havent seen in the country a long time. Jobs are you are toking back. You saw what happened. Are pouring back. Obamacare is in bad shape. Well take action. There will be no slowing down. No waiting and no more excuses by anybody. Were all now, i can proudly say im a politician, okay . Im a politician. But were going to get it done. Youre the leaders that really will get it done for all of us and the American People. Obamacare is in very bad shape. I believe if we wait two years, it will totally implode. It is really pretty much imploding now, steve, when you think, it will implode and people will like please help us, please help us, that will be the democrats are asking for help. They are asking for help in the true sense of the word because its a disaster. Insurance companies are fleeing. Some states are up over 100 in costs. The deductibles are through the roof. You dont even get to use it. Well do something that is great. Im proud to support the replacement plan, released by the the house of representatives and encouraged by both parties. Well having that is much more understood and much more popular than people can even imagine. It follows guidelines i laid out in my congressional address, a plan that will lower costs, expand choices, increase competition, and insure Health Care Access for all americans. This will be plan where you cachse your interest. This will be a plan where you can choose your plan. And you know what the plan is. This is the plan. Well have a tremendous, i think well have tremendous success. It is a complicated process. But actually it is very simple. It is called good health care. So i want to thank you folks being with us today, ladies and gentlemen. And we will do something really, really important and really good for the American People. I think it is going to go very quickly. I hope it is going very quickly. As you know, after that we work on the tax cut. Well be planning a major tax cut. I know exactly what were looking at. Most of us know exactly the plan. It will put our country in great shape. Reduce taxes for companies and people. I can use the word massively. It will be a big tax cut. Maybe bigger than reagan. I look forward. We cant get to that unfortunately because of the way your system works, we cant get to that until we take care of health care. So well take care of health care. I appreciate your great support. Lets get it done. Thank you. Thank you all. Fantastic. Thank you. Liz President Trump just calling his tax plan maybe bigger than what Ronald Reagan did back in the 80s. The markets are still down though. Lets listen in a bit more. Getting majority in both the house, senate and in the white house, that is rescuing the American People from failures of obamacare. We heard the message for years. Weve seen dramatically skyrocketing costs. Youre seeing doubledigit increases every year in most parts of country for headlight premiums of families. Many are seeing deductibles, that rise above the 10,000dollars range. People dont have access to health care. People dont have the ability to choose their own doctor. You talked about, this in one of the best speeches i heard from a president , standing at well of the house chambers. You addressed a joint session. Gave inspirational speech to the country, laying out things that need to happen and you will to get the country back on track. To create jobs and secure america. One thing you talked about how it is wrong unelected bureaucrats in washington have the ability to tell you what you cant and can buy for your family in health care, one of the most personal decisions a family makes. This bill starts not only the process of repealing obamacare but putting reforms putting patients back in their Health Charge of their health care decisions. Lowering costs for families. Let them make the decisions between though and their doctor which is so personal. The chief deputy whips will be ones working directly with members to ultimately pass this bill to your desk so we can quickly provide that relief from obamacare to the people of the United States. I know we are honored to our former house colleague, our Vice President of the United States who has been involved in this fight from the beginning as well, Vice President mike pence joining us too. Thank you, Vice President. Thank you very much, steve. And again were going to work quickly. Its a great bill. Well have tremendous i really believe well have tremendous support. Im already seeing the support, not only in this room, im seeing it from everybody. Im seeing it from the [inaudible] i got elected to a certain extent, i would say a pretty good little chunk based on the fact repeal and replace obamacare, and many of you people are in the same boat. Very important. So lets get it done. Thank you all very much for being here. Thank you. Okay. Thank you. Well the president was there to talk about health care and the brand new plan but he also threw in they would have amazing and incredible tax plan, possibly bicker tax cuts than Ronald Reagan had. That sliced ten points off the dows losses. We have William Cohen with us, author of why wall street matters. And rob, with a bill dollars in assets under management. Beyond the promises of the tax plan. You have to see this Health Care Plan voted in and accepted . Well, just when i was ready to give up an try to disconnect from the rhetoric of politics, they pulled me back in. So so much for the winter of my disconnect but yeah, look, i think, this is what we need. I should say what we need is for another leg in this market. What we need is real material develoentsn the tax reform front. Without those the i think this market will continue to kind of rest in place here. I dont see any real need or desire on the market to pull back but without meaningful discussions and details on tax reform i dont see how we go tremendously further from here. Liz what do you think wall street is thinking right now, bill . If we get tax cuts at personal level, the party goes on of the National Debt is 20 there will. If we have all the tax cuts, revenue doesnt materialize, we might talk 2trillion in debt. The bond market will not like that. The bond market has not liked the election of President Trump. The stock market has. Liz that well hit that debt ceiling. Quickly, rob, go ahead . No. I think that is a really good point and the way i will look at that going forward, we have to Pay Attention to the curve between the threemonth and 10year. Well definitely see that rate rise in march. If the 10year doesnt keep up over the course of the year, if we dont see a steepening of that curve, you know there is aa problem. Liz thanks to rob bart 10 steen. William cohen was my journalism professor in high school and andover. My god. Where did you get that . Liz is that unbelievable. Mom, im sorry. Liz he taught me everything i know. Well, almost everything. Look at you now. Liz 10 seconds from the closing bell. David and melissa. Take it away. Melissa stocks sinking the trek straight day. Look what happened in the last hour. The dow dropping when republican congressman spoke out against the new obamacare replacement plan. Were coming back a bit now. This marks the first backtoback losses for the dow and s p in more than a month. Im melissa francis. David too bad there is nothing happening. Exactly. David there is everything happening. Im david asman. This is after the bell. We got you covered on the big market movers. Here is what else we have for you at this hour. Flury of activity inside beltway. Three big events well try to bring them to you, happening at any moment. Update from the