Lets talk first about astrazeneca vaccine issues. First they reported positive results but now theres real questions about whether or not that is true. Where do we stand on that . We are trying to understand the fullness of the data. The positive side, a second form of technology has demonstrated efficacy. 60 or 90 . Its really important because it validates the virus selected to be part of the vaccine. Its the same as this coronavirus platform. The question is, why would a different schedule giving a lowered dose the first dose and a higher dose for a second dose to immunize . Why would that be better giving the same dose twice . Frankly, that something we are trying to understand. Were going to measure the immune response its been in use of two different schedules and see whether there is a better immune response. If there is, i think it will validate the fact that there is a better one and potentially we can modify the trials to introduce this differential scheduling with the lower dose and then a higher dose. If there is not, it will open up many more questions to be assessed but will get to the end of it scientifically before any decisions will be made. Paul okay. It seems as if this will put off any approvals on with at least this vaccine. The other two, the messenger rna platform, those have shown 95 or so positive results. Is there any reason to doubt the average american that these will, moderna and Pfizer Vaccines expedite emergency use by the fda . Great, i havent seen any data to suggest that there should be any issue. There completely independent developed vaccines. It is remarkable they are using the same outcome. It validates the fact that the outcome is real in terms of efficacy. In terms of safety for both vaccines as we have discussed, the number and quality of serious adverse events have happened first 60 days after completing the immunization has been unremarkable similar to that of many approved vaccines to further validate the fact that there safety profile in the short but also projected longterm is a good profile. We looked into the manufacturing specifications and quality of the products made we are very miller with the Moderna Program and it is very good so on all fronts, as far as we are informed, things look very good as we look forward to the fda and potentially approving these vaccines by middle of december. Paul then youd have to be able to distribute to 40 million, i guess. Secretary azar has said body and of december and many more millions by the beginning of the year. He has said the state will get the vaccines allocated by population and they will make the decisions about gets it the federal government will give guidelines to the states . Yes. Through the cdc and its advisory committee. Immediately after the fda approves, authorizes these vaccines, we issue a guidance for recommendation for who very likely the highest populations, healthcare workers, older people, people with comorbidities, exactly what sequence is to be confirmed. That is a recommendation. Each state has agencies within each state to decide where and who they want to vaccinate. They need to give an address and a number of those that are there and then we ship them as soon as the vaccine are authorized. Paul this is very exciting news. You had enormous experience developing vaccines in the private sector before you joined the government and its an extraordinary Rapid Development of these vaccines. Unprecedented, really. To what do you attribute this result . Is it the fact that the messenger rna was already under development . What made it work so well . Different factors have. The first one is the technologies, messenger rna is the one. Those are platforms that have been worked on for more than te. They were ready almost like a cassette player ready to play music, they needed the cassette with the right music into it. The second thing, we learned through sars and mers, two other coronavirus is had outbreaks in 2001 in asia and in the late 2000 in the middle east. Very similar to coronavirus. So we learned from those. Which part of the virus should be target . That really allowed to accelerate the process of thinking about a vaccine to being ready to make it. That took, in this instance, literally four or five weeks the messenger rna platform rather than four or five years because we knew what to do. Then we went to the Clinical Development and their, we went fast because we had all the trials before we knew we could do them, it costs a lot of money each time when we did the first trial in the data were positive, we immediately went to the second. We didnt spend time planning or preparing for the trial we ran larger trials than usual because it allowed us to have more cases faster and allowed us to have a better view on the safety of the vaccines. We did it at risk financially, not from the safety of the vaccine. The third thing we did was to invest in manufacturing facilities, we hired the people, the companies doing the manufacturing for vials all at risk. Very shortly after completion of the clinical trials, we were able to have 14 million the doses between these two vaccines. Those are the criteria that have allowed us to go so fast. Paul fascinating and interesting. Thank you for sharing that. Congratulations on all the success here. When we come back, a busy thanksgiving weekend to Supreme Court rejects Andrew Cuomos restrictions on religious worship. President trump, former National Security advisor, Michael Flynn. Our panel is here, next. A busy thanksgiving week is a divided Supreme Court wednesday struck down your governor Andrew Cuomos order restricting attendance at religious services due to covid19. This is President Trump pardoned former National Security advisor, Michael Flynn and a years long prosecution of the retired Army Lieutenant general who pleaded guilty to lying to the fbi. Lets bring an hour panel. Editorial page editor, dan henninger. And jason riley. Jason, Supreme Court decided california and nevada cases to stay out and not challenge the covid restrictions on religious worship at this time, against will most, what changed . Do you like the decision . Jason the decision made by thanksgiving, i really liked it. I think what changed the position of Amy Coney Barrett to the court, chief Justice John Robert john roberts is no longer the swing vote. Conservatives still have a five four majority. I think the decision was extremely welcome pointing out inconsistency here, the governors are doing and explain that we dont put the constitution on ice during pandemics. They need to show consistency with how they are are addressing our Civil Liberties during the pandemic and to go out and say Liquor Stores and bike shops can stay open but churches and synagogues cannot is, of course violation of basic constitutional rentals. Paul dan, if you read those, they have six opinions here on what was a temporary injunction. It wasnt a final ruling but what is fascinating to me is the fireworks back and forth here with some of these opinions. Justice gorsuch unloaded on chief Justice Roberts previous opinion in the california case. What you make of this hot tempered court . Dan well, i certainly would recommend Justice Gorsuch opinion to all of our viewers. It is worth the price of admission. The First Amendment making it a holiday during the pandemic, it does not go on sabbatical leave. What you saw here between Justice Gorsuch and roberts is a difference between Justice Roberts tendency toward pragmatism, bowing toward the needs of governors, and Justice Gorsuch asserting that there are first principles. None more so than the First Amendment exercise of religion that you cannot simply set aside such fundamental rights and principles in the constitution in the interest of pragmatism. Which Justice Roberts had been doing in recent years so i suspect we will see more of this in the future. Paul kim, do you agree with that but this is foretelling of things to come on the core Constitutional Rights like gun rights and other freedoms . Kim lets hope so because with john roberts as the swing vote, it often meant the court docked those decisions. They didnt have the votes to sign up for that. Hopefully there will be clarity and thankfully so because there have been a lot of confusion out there about some really big issues, especially as you said, gun rights just because the court wouldnt take them on. Paul lets turn, kim, i want to ask you about the Michael Flynn part by the president. Long saga for flynn. He wrote a column. Tell us why. Kim welcome mike flynn he was terribly treated by the fbi which essentially trapped him. Bob miller couldnt find on collusion so went after those charges. Hes been treated terribly by sullivan despite the fact the department of justice wanted to withdraw these charges after a review by longtime u. S. Attorney saying they should never have been brought, the judge refused to dismiss the case. It would have been better for the judge to have simply assigned off on this and got victory in court but it looked unlikely you would ever do it so this was the only way to get justice in the end. Paul jason, what is the larger lesson here you take away from the flynn case . A former colleague, editor, will judge sullivan except the parting ask and continue the prosecution . What is the larger lesson . Jason that what happened to flynn can happen to anyone. That is why this case is so important. The fbi was duped by russian disinformation investigating a president ial campaign and general flynn was a casualty of that. He was essentially entrapped by the fbi so if they can do it to him, they can do it to others. If they can do it to the Trump Campaign, they can do it to other campaigns and thats why this is a big deal. President trump did the right thing. Paul thank you all. Still ahead, the Trump Campaign continues to press its claims of voter fraud, the president ial transition gets underway to Senate Runoffs in georgia heats up. With talk about the stakes in georgia and the president move when we come back. As states continue to survive the results of the 2020 election, the president ial transition officially got underway this week by President Trumps legal team is continuing to push ahead. With challenges meeting wednesday with lawmakers in pennsylvania to discuss election irregularities. Many in washington are turning their attention to the georgia runoffs that will determine control of the United States senate. South carolinas Lindsey Graham reminding republicans of what is at stake. If we lose these senate seats in georgia, pelosi will run the house, schumer run the senate and if the president falls short and biden gets to be president , he will have pelosi, schumer and biden for big government. Paul President Trump set to head to georgia for a rally with the republican candidates next weekend. Lets bring in wall street journal columnist, kyle siri and Senior Advisor to president George W Bush and heading up a republican fundraising effort for those two georgia races. Lets talk about the challenges to the election. As a any evidence you see so far there would be enough to turn over the results of the popular vote in enough states to deny joe biden 270 electoral votes . No. Ive seen things that are worth exploring that moat might affect the number of folks the president elect biden received in certain states but no, nothig that would suggest to me this would not end up being 306 Electoral College votes to 232 with biden while about 270 but there are things worth exploring and there are big issues that need to be resolved before the next election, particularly in states that decide they will rely more on mail in ballots than in previous elections. Paul when you say worth exploring, leave aside the next election but what about this one . What is still worth exploring this election . I am mystified. We had the gettysburg panel, for navy officer and scientists who claim he saw an Election Officials using usb drives to upload potentially upload data into the system. That is worth exploring. Many ballots, was on those usbs, did it really happen . Was the case there . Weve had all kinds of allegations about hugo and the computer this and 160 that but we never had that verified by being put in a lawsuit and filed. This apparently about this incident from former navy officer occurred three weeks ago. Why are we only hearing about this week . Why has nothing been done to build on that it is mystifying to me. Paul is not just a function of the fact that the trump team doesnt have its legal act together . It sounds like it would be if you havent filed your cases y yet. Karl absolutely. And that is why the problem i wrote in the journal ever weeks ago said time is running out and when you begin to certify as the states are certifying month the threshold of overturning certification becomes significantly higher. The problem is by december 1, we are likely to have all six states they talked about having certified or the case of pennsylvania delay temporarily and we will see what happened but my sense is, these cases are so nebulous that the Trump Campaign is unlikely to prevail in any of them. Paul what about the idea that some people, including the president on occasion, i guess privately at least, state legislatures in pennsylvania or other states run by republicans, could overturn the popular vote in the state and delivered the electorate for trump as opposed to biden . Karl state legislatures are composed of people elected by small districts around their state they are not prone to political was i. I think we saw this in the handling of the issue by the two michigan leaders who were brought to the white house. They made it clear beforehand that they would not overturn the will of the people. Michigan, president elect biden is lead by 150,000 votes so they had a meeting with the president and the issue didnt even come up in the meeting. This is not going to happen. Unless there was there evidence of fraud, widespread deep fraud that the American People or an individual state could accept. No individual will say my loyalty to the present requires me to overturn the will of the people of the state. Paul what is the impact of these legal challenges on the two Senate Runoffs in georgia . Youve seen the president criticized the secretary of state. You seen him criticized the governor. Could you end up with broken electorate that is demoralized and lets the democrats in control of the senate . Karl this has been a concern of the people in georgia, absolutely is a concern. The good news is, last weekend the president lawyer, was a democrat from nevada and basically suggested were publicans of the state should not consider supporting senators because of this. On sunday night, donald trump junior tweeted that this was nonsense, in all caps and nobody should Pay Attention to people making that suggestion and the fact that the president now be campaigning shortly. The Vice President was there for two days last week, an indication the white house clearly understands great deal of the president s legacy will hang on whether or not the republicans carry these two seats in georgia. If they do, the democrats will have a lot more difficulty in doing his legacy starting with tax cuts. If the democrats control the senate, they dont need to change the rules but they can use the budget control act of 1974 in whats called budget reconciliation to do it with 50 votes. Kamala harris sitting in the chair. So absolutely, there will be an administration will be there. They are doing a lot of things to help the campaign with robo calls and text messaging and so forth. Paul thanks. Appreciate it. Thanks for coming in. Still ahead, Dow Jones Industrial average gets 30,000 is the u. S. Economy continues to show resilience amid the pandemic. Can joe biden, soon announced keeping the recovery going . The Dow Jones Industrial average passing the 3000 mark for the first time this week. The milestone comes as president elect joe biden gets set to announce his Economic Team next week with former Federal Reserve chair, janet reportedly tapped u. S. Secreta secretary. We are back with dan and maria mariana. Lets talk about how strong the economy is now. Theres real concern because of the new infection spike that we could be dipping into a second recession, what you see . I am not that worried about it, i think it will be natural have a pullback but transmission rates have already dropped back down in europe and i think using this method of walk them down, and very small areas when there is an outbreak but not walking down the whole economy will be helpful. Also, the feds having such low Interest Rates going to help us limp along. I think we are in a race against time because if the vaccine comes, as we hope it will, i think we will make it through this and of course the market is anticipating six to nine months down the road so i am optimistic for 2021 even if we do have a throwdown in the first. Paul it is fascinating to reaching that the gdp, Fourth Quarter from 5. 6 just the other day, that is the building on 33 of the third quarter, thats great news if its true. We are catching up, theres a lot of pentup concern and you have free money so those two things together i think are very positive for the Fourth Quarter and certainly for 2021. Paul dan, what you make of the treasury secretary, Stephen Mnuchin asking the feds to end its special pandemic facilities for the Capital Market on december 31 . I believe that is what congress intended but theres real debate about whether to do it. Do you agree with that . Dan yes, i think it was the right thing to do. Stop these special lending facilities. They were intended to be temporary and especially as we had fourth into possible biden presidency with janet yellen, she was a former chairman. Whats up big political issue Going Forward is whether democrats will try to use the Federal Reserve and federal spending as well to bailout states that are overextended in the middle of the coronavirus. They could have used the lendi lending, extending the lending facilities to prop up some of that spending that falls outside of the virus right now. I suspect treasury secretary yellen would be sympathetic to that. It is a good idea to put some separation between the Federal Reserve return, for 50 billion that they had back in the treasury for other uses and establish lines of response body that existed before the coronavirus started. Paul mary, does the economy need now a big new covid19 relief bill on the order of 2 trillion, 3 trillion . I think i know your answer to this but tell the audience. Mary whats really troubling about this still is that its, the arguments for it are shortterm. In other words, businesses are having trouble, the economy is not on all cylinders. Nothing is true but the advocates of this dont take into account that this is adding to the federal debt. Sometimes, they will have to pay that back or at a minimum, service it back. When that happens, they are using government revenues that ought to go for defense, education, building or whatever, things that are productive for the economy. When that happens, so much of a burden to the fiscal side, it is harmful for the overall economy so if people who are against of us saying look out and take in consideration on all this debt, its going to have longer term consequences for economic prosperity. Paul dan, we dont have a lot of time but tell us a bit with janet yellen, what kind of secretary she will be. Dan keynesians believe in federal spending. It simulates demand in the question at the moment is, is there any it to the amount of federal spending that we can survive as mary was suggesting . She will work closely, i think, with chairman powell on trying to work things out and that is a bit of concern especially if the democrats take control of the senate. Paul okay. Thank you. Still ahead, joe biden unveils members of his National Security team as some critics warned of our return to the failed policies of the past. With the big say about the next year in u. S. Foreign policy, next. Keep our country and our people safe and secure. The team reflects the fact that america is back. Ready to leave the world, not retreat them. Once again, sit at the head of the table. Confront our adversaries and not reject our allies. Stand up for our values beyond our joe biden tuesday announcing the National Security post. President elect, longtime aides who served with him during the obama years including tony and as secretary of state and jake sullivan, National Security advisor. Some critics blessing thats sitting in marks return of the Foreign Policy of the obama years biden and my next guest say this will be obamas third term. Professor at the college in the hudson institute, he writes for the wall street journal. Welcome. To a lot of people look at these pics and see veterans of the Obama Administration, they see a third term. You say no. Why . Lets not forget that joe biden is his own man and Foreign Policy. He was chairman of the Senate Foreign Relations Committee and as Vice President , he didnt always agree with everything president obama did in Foreign Policy and he very carefully has brought around him people who hes known and trust, people on team biden more than team obama. Its going to be a Democratic Administration, it will be in some areas, its going to be similar to an Obama Administration but we will see joe bidens fingerprints all over this Foreign Policy. Paul well, one of the things these pics believe, multilateral institutions. They talk about American Leadership but they talk about American Leadership constrained by these institutions. This will not be an american unilateral Decision Making team. Isnt that very much like famously one anonymous obama aid called leading from behind . Walter well, i think ways in which it will be generically like the Obama Administration are going to be more interest in the un, more in keeping europe on board is critical for american Foreign Policy a special in dealing with issues like the nuclear program. To me, this is part of what a Democratic Administration is likely to do no matter what. But where i see obama, i think there was kind of an ear resolution tone sometimes obama would spend a long time thinking and splitting a lot of differences. I think biden is a bit more decisive as a leader. Paul that is interesting. We will see if that bears out but one of their first actions will be returning to the Iranian Nuclear deal. They are going to return probably to the paris climate accord. For example, i am still looking for where the differences are. He say decisiveness, located but where are the policies differences going to be. Walter i think they will be greener than the Obama Administration. Or they will try to be. I think they see, this comes out of stuff sullivan has written in conversations he and i have had. I think they see, in some ways, climate as an issue that can unite the progressive wing of the Democratic Party more closely to the obama, sorry, the biden wing. Theyre going to count on, they are going to see environmentalism at home leading to a Big Green Infrastructure Program degree new deal but the biden new deal and internationally they are going to sue be key to the American Leadership, they will use it to push china into different positions to rebuild bridges with the europeans so i think a lot more emphasis on climate and i think i see that is a different. I think it is real. Paul lets talk a little bit here briefly about iran. Go back to the Iranian Nuclear deal but President Trump piled on sanctions, iran has backed away from its earlier commitments, far beyond the terms of the deal. Is biden going to be able to return as quickly as they think to the status quo before trump . Walter you are already hearing they wont be able to do much before the iranian elections which i think are in june. The outlook seems to be that you will get a more hardline Iranian Administration and power but i think its going to be hard to get back to where we were in 2016. Maybe impossible. The other thing, the other countries in the region, arabs and israel working together much more effectively now and they were in the obama years to try to steer american Foreign Policy away from too easy an agreement with iran. The uae says we want a seat at the table in future negotiations. That will be hard to arrange but i think the Biden Administration will realize that not just republicans in congress they still control the senate after georgia but also u. S. Allies in the region were not happy with the jc poa. Paul thats going to be, i think a reality check for the administration. Walter, thanks for coming in. When we come back, john kerry climate, the president elect names the former secretary of state to a new cabinet level post. What the status says about the Biden Administrations priorities and potential cost. Next. The paris accord was not designed to a job killer. Joe biden appoints john kerry to be a special envoy on Climate Change. An architect of the climate agreement, which the president elect promised to reenter on day one of his administration. We are back with dan henninger, kim and jason riley. Ken, what you make tell us about the priorities with cabinet, suggest this will be the way in which they make peace with progressive spirit could have terrible consequences for the u. S. Economy and National Security because as a reality our oil and gas fracking has made us more secure its a lot the u. S. To be less hostage to the market and diminish the power of true bad guys not being able to see that concern of judgment. Paul dan, this is not a treaty. Theres nothing technically binding on this. It depends on the policy implementation. I hope they monitor the terms based on regulation assuming he cant get it to the senate. Dan i think regulation is the big worry because make no mistake, climate is at the top of the progressive agenda. They argued this is a bigger risk than the pandemic even in the financial crisis of 2008. They want movement on this on all fronts and that means regulating banks, industry in terms of the commitment to these Mission Goals and the could have an effect on the American Economy but they are going to press very hard on this and every member of that cabinet will be expected to contribute to it. Paul jason the worlds biggest emitter is china. They are building coal plants as well as nuclear plants. A lot of coal plants. There under the paris accord, they dont have to do anything until 2030. We have to do things right away. I guess my question is, if john kerry will go over and negotiate with china and say climate is our priorities, what will he have to give up and return to be able to get chinas commitment on something that china probably doesnt want to make . Jason exactly. If he decides Climate Change is your highest priority you want concessions from china, what you have to give in return . You have to ignore taiwan or hong kong other bad behavior among the Chinese Communist government . That is the big problem we dont want to give up or abandon any influence in that part of the world. Under obama, and im hopeful here that biden go under this direction as well, you have proponents of ppp and that was a way of exerting influence over china by taking the u. S. Part of the group of nations made the rules of the road there when it came to trade. That is the type of influence i hope biden pushes for i think that is a better way to go in through climate policy. Paul and i hope biden onto submit for a treaty if he wants to have americans legislatures vote to. We have to take one more break. When we come back, hits and misses of the week. Me lots of money. This games boring. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Heres andy listening to my goals and making plans. This is us talking taxsmart investing, managing risk, and all the ways schwab can help me invest. This is andy reminding me how i can keep my investing costs low and that theres no fee to work with him. Heres me learning about schwabs satisfaction guarantee. Accountability, i like it. So, yeah. Andy and i made a good plan. Find your own andy at schwab. A modern approach to wealth management. Paul time now for our hits and misses of the week. Kim, start us off. Well, paul, it was only a block long, and it was mostly for a itll vised audience, but i want to give a big hut to the organizers of the macys day thanksgiving parade who managed to pull this off again despite coi vid. It wasnt what everyone wanted, but we did get the balloons, the rockets and in a year rockettes, and i think they just get credit for the organization and for bringing us some joy as usual in a tough year. Paul all right. Jason. Paul, the giant book Publisher Penguin random house is under pressure from its own employees to abandon plans to publish a new book by jordan peterson. They held a town hall meeting, and some employees were reportedly crying and angry over the decision to plush this author to publish this author. Looks like theyre going to go forward and publish thing book, but this effort to silence critics is not Something Limited to college campuses. Its now in the world of book publishing. Paul and the workplace. All right, mary. The Ohio State Legislature has voted to expand private School Vouchers to a greater number of children stuck in underperforming schools. Product by, the teachers unions have said this is going to harm Public Schools which i would say, duh, kind of an obvious point. Its called choice and competition. And teachers should get used to it. Paul all right, dan. Paul, im giving a hit to the Health Care Workers who will spend this Holiday Weekend not with their families, but also christmas and new years weekend in hospitals helping patients with covid. We can agree or disagree about policies having to do with masks, social distancing, shutdowns and the rest of it, but the fact is there are the people who are getting covid, and i want to give credit to the doctors, nurses and others who stand 2 feet away from these people trying to pull them through it. They still are heroes in the pandemic and this fight. Paul all right. Thanks very much, dan. Thats it for this weeks show. Thanks to my panel and thanks to all of you for watching. Im paul gigot, we hope so e to see you right here next week. Mark well, President Trump is spending eric President Trump is spending the weekend at camp david as his legal team keeps fighting to try and overturn the results of the election despite officials across the country insuggestioning there was no evidence of i any widespread voter fraud. And a new report today suggests the prime minister, well, hes already floating plans for husband postwhite house political future. Hello, everyone, and welcome to americas news headquarters, im eric shawn. Arthel hello, everyone, im arthel neville. The trump team was dealt another blow yesterday. A federal Appeals Court rejected
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