Election, 37 . [cheers and applause] now, it did a little bit after correction. In fact i started to say, you know, i was in it for like 13, 14 months from election, i say is this sucker ever going down a little bit . This is a little embarrassing. It was up 100, up 1000. Up 90, up 63, i said good thats better. Neil good, thats better. Is it. The market rebounding today, continueing an effort for investors wipe out the 10 correction, more than half of that correction. Well get into details, to the president finally commenting on that gyration, welcoming it. Go to gary kaltbaum, wall street journal jillian melcher and our own charlie gasparino. What do you make of his acknowledgement of the obvious . I never want the president to be embarrassed by a market going up. I always want a president to be careful about what he says after market especially gargantuan run, leave no doubt im concerned i think it has a lot to do with trump and regulations coming down, the potential for the taxes and everything. But just be careful though how you say things because markets will bite back. Neil jillian, what is funny, ive been waiting for this to to down. He was trying to say, i understand what is going on im not aloof what is happening, but signal sent to investors he didnt really care. He still likes what the market is doing. Referred to fact well see where where later on in another seven years, all but guarantying he will run for reelection. This is damage control. If you get a good market you are blamed for a bad market. Were seeing return to normal Interest Rates. Seeing the end of the bernankeyellen era. There will be market corrections. That is not a bad thing. Im encouraged by gdp numbers and encouraged by manufacturing. This is pretty normal. But the correction he made was the right step. Neil i think it was funny too. I think it was stupid. Neil how would you have acknowledged obvious volatility in the market. Markets are volatile. They go up and down, were here to fix the copy. You dont deal with it. Here is why, neil. The market is in unknown territory. We dont know what gdp will be. We had unprecedented experience. Gdp estimates from the white house began with donald trump saying it would be 6 , now down 3 . Atlanta fed said 5 . Most overoptimistic fed which is widely wrong on the downside and upside is now ratcheting down. This is fools game. Heres why. If we dont get decent gdp growth out of the tax cut well get massive deficits. Im not saying it will happen because i like tax cuts. If im wrong, well get massive deficits, much higher Interest Rates. Neil why do you say the tax cut will trigger massive deficits you ignore additional 9, 10 trillion . Spending. That is on top of that. Neil why does everyone would say the tax cut would be culprit for that, not all additional spending. The tax cut is trillions. It is so big. Neil the extra spending, extra spending im not targeting you on this because i hear a lot of people say this, the extra spending is 10 trillion over 10 years. That is the tax cut. Neil tax cut, is 2. 5 trillion. Im not minimizing that big believer it could generate revenues. It mixed up to me we disproportionally focus on that is great point. My other point would be if the tax cut works, especially if we get gdp above 3 , it will start paying down that debt and spending. That is it what the markets are trying to figure out. The die already has been cast on debt an deficits. Were heading for 30 trillion. I have been stating this every day. Neil over ten years. To the it. Next year, 400 billion is going toward interest. Our first 400 billion of our taxes. Neil we dont have to worry about it, gary. It is jillian. Yeah. Neil she will whine about it. Eventually a trillion dollars. Eventually if they dont change the trajectory, i dont care what they do, markets will react, Interest Rates have to react because economics 101, more debt higher the rates. We had the central bank there fighting rates down and buying up bond to keep them down. Neil maybe the president should step back a little bit about the markets period to charlies point. Up or down. Up or down. I think this is stepping back. He had taken credit for it aggressionly. These are all the things i done and linked his performance. Pounded away up employment going down for women. Thats good. Neil that is what he should have been arguing. Taking better credit for that. Here is problem with him touting the markets, when he started really touting the markets in jop, we had massive rei will inflows at the top. He cost some people some money. Just remember this is not good stuff with the markets. Also whipped when the market went you there the 12 correction. This is not right. It should not be happening. That is where i worry. You never know that one little word or phrase that set as market off especially when it has had a big run you never know. Neil he addressed it. He addressed something else. This will seem silly to you guys, seemed at first silly to me he is not known for synching himself. Zinging himself. This moment caught my tension, let this sink in and react to it. What a nice picture. Look at that i love to watch thatfy speak. Oh, boy. [cheering] oh, i try like hell to hide that bald spot, folks. I work hard. Neil now of course for anyone who, you know has been following this president , as a candidate, his hair is favorite target of critics and comics alike what the president to do there i thought was actually refreshing. What do you think . Yes. Point out, look at audience. That is an audience older, and they will get the joke. Neil really . Theyre all bald . Theyre all older. People like me are bald. Charles all the uk newspapers last week, front page, forget any another use, had a picture of his hair flying up on air force up with. There was another picture supposedly a little scar, maybe he had some surgery. Neil ridiculous. Smart enough to get in front of it. Here is what i have to say. Whoop by do. The best part about trump, when he has moments unscripted. When he has these meetings in the office, oval office where he has a bunch of people around him unscripted. It is really good stuff and i want to see more of it. Theyre not all good. Neil here is what i took away from that, i know it seems like a sill hi thing, a lot of people obsessed trying to retrieve this sound bite, first time i can remember where see. Inged himself. I mentioned he had rollins, he worked for most famous sell deprecate tore, Ronald Reagan. It can work as political tool. Donald trump i know him pretty well, you know him pretty well, the caricature we see he helped create, right, is not the guy i kind of knew. I knew a guy was funny. Cracked jokes on the side. Was not this sort of lunatic checking lock her up. He was much more measured when i knew him. Transformation has occurred. Maybe it is all an act. Maybe it is not. Neil that speech showed a lot of humor, right . Yes. He is in his element with this crowd. Playing to the base. Neil you will not give him one iota of credit . I admire your consistency. I like deployment of humor. See if he does it at white house Correspondents Dinner if he goes. Neil question whether he might go. Preview of coming attractions. President are general selfdeprecating, say what you want about obama, he was best. That will be super bowl ratings if he goes to that dinner, the love and hate that will be in there. Neil will be a lot more hate. They hired this comedian, comedian hired, all she does is put down donald trump. A lot harder for them to go after him when he is being selfdeprecating. Looks like it is in poor taste if they go after him. Neil jack kennedy line, always besmirched for his father buying him the election. Dad said he wasnt going to pay for a landslide. Great way to minimize entire debate. Thank you guys very much. You too, charlie. The brother i love. President walking a fine line on some other issues especially with this particular group as jillian pointed out, might have been right in his conservative corner but it concerned guns and how to keep them applauding and not getting infuriating, take a look. We know you have to strengthen up, really strengthen up background checks. We have to do that. [applause] and we have to do for the mentally ill we have to do we dont want people that are mentally ill to be having any form of weaponry. We have to be very strong on that. [applause] neil all right. Now the nra, the National Rifle association, opposes those two measures here. Doesnt want the president to go too far stressing guns, gun ownership, who can get them at when, what age they get them and how. Former Reagan Campaign manager ed rollins, what he makes of significance of even that slight departure from the nra script. What do you think, ed . I want to preface this, im not the president s advisor on hairstyle. I think humor was very important day, i do too. I felt this was very powerful speech. I felt he was very comfortable. As i watch this, this guy is now the leader of this party and leader of this conservative movement and it was first step toward 2018 and 2020 elections. I thought he did with the nra, theyre my friend, they supported me, but this is very serious situation. We have to make modifications minor, maybe. One of the things that most people understand, the vast majority of gun owners in this country are appalled by the terrible disaster in florida as anybody else. We can make some modifications. I think they will be supportive. If theyre not supportive, the president can lead congress to make changes. Neil i think this crowd might be open to it. All are imagine i nra member, the nra made it clear they are not too keen on these ideas. The president seems to be hints in the strongest terms, i think you want to to along with this. A pot line things will be done at state and local level. Governor scott, florida will come out with propositions as it should be. Bottom line the federal government should not be in everything. The key thing, it was very powerful speech. It was addressing the issue most people are very, very concernedlast week, this terrible tragedy. I think he is offering something to the american public, not a finished piece of legislation, in the a totally, its a not process, good thought process. I think that is important. Neil you know, in very simple way powerful way the president did sort of try to get a handle why it is in midterm Elections Party in power always gets clobbered. He was talking to maybe the psychological nature of it. One they capture the white house, they feel excited about that the other guys are galvanized to make sure it doesnt happen again. So theyre more jazzed to come out and vote. He was telling this crowd, weve got to get off our asses here, literally, do something, not that happen. But again, that is the historical norm that the party in power does lose seats. Ronald reagan experienced it in his first term. What about that message . I mean how can you get that party in power jazzed to get out to vote . Did part of it today, first good step. Historically there is dropoff, dramatic dropoff in midterm elections. Mower people vote in president ial elections. Side that loses is very intense. Democrats are intense. They have Coalition Groups that dont like trump, never like trump will do what it can to make changes. Were divided in nation, divided in our partisanship. Energizing his base, energizing republicans telling them how important this election is as he did today, i think is very, very key. Whether he wants to make the whole election about him or let individual members of congress and senators make it about them and their record is the key question. Neil you know, worked for Ronald Reagan who was of course tame mouse with his irish sense of humor, directed at himself, picking up on media themes at the time that he wasnt too sharp. We learned otherwise he was quite sharp, thank you very much. He used that to great effectiveness here. The president , this president , for the first time on the hair thing what did you think of that . I thought it was very important. I thought it showed great humor. And obviously the ability to laugh at himself which is always important. The second thing he did today, he fired a shot across john mccain like nobody i ever seen. Ronald reagan never attack ad opponent neil didnt call him out by name we all knew he was talking about. The message is here, support me i will be good to you. Dont support me, you will pay a price. Neil ed, good seeing you. Ed rollins, former campaign manager, Fox News Contributor. Both matter a great deal to us. The president also was saying at end of his remarks, we got details from Steve Mnuchin, treasury secretary about tightening up sanctions against north korea. Were waiting for closing ceremonies of Winter Olympics in south korea. Ivanka trump will be there. She just might bump into the rulers sister. How will that go . After this. Neil all right. The president teased at the end of his remarks at cpac today there are going to be a new set of sanctions, more sweeping, more substantial than any prior on north korea. The timing just as the olympics are wrapping up this weekend, his daughter will be there for the closing ceremonies. Blake burman with the latest from the white house, what this could involve. Blake. Reporter got a passing mention from the president at the tail end of his cpac speech but the white house is hailing as major move. These sanctions, largest ever under the administration target shipping, trading, vessels, especially vessel to vessel contact out in open waters where products are exchanged. If you stop the imports and exports, stop the money flowing in and out of north korea and you can slow down the Ballistic Missile program and its nuclear ambitions. Here is President Trump speaking about this earlier this morning. North korea, we imposed today the heaviest sanctions ever imposed on a country before. [cheers and applause] and frankly, hopefully somebody positive can happen. Reporter this involves 27 different entities and 28 different vessels that involve a variety of countries including north korea, china singapore, even as far as panama just to give you an example. I asked the treasury secretary Steve Mnuchin who joined us in the Briefing Room a little while ago to put that number in context. This is very impactful. This is virtually all the ships theyre using at this moment in time. Welling sublist continue to monitor, use our resources to monitor activities going forward. Well do new sanctions as needed going forward. This is a very, very significant action port part very, very significant, says the treasury secretary though, neil, he would not necessarily characterize this as fullon blockade, instead saying quote, they would use all of our sanctions capabilities an will continue to do so. Neil . Neil blake, thank you very, very much. We hinted at already, the president s daughter, ivanka trump will be in south korea for the closing olympic ceremonies. She will no doubt meet or bump into kim jonguns sister who has been there throughout the games and getting great deal of press in south america. How does all of this go down and timing of all of this go down . Our former United Nations ambassador, Fox News Contributor john bolton. John, what do you think . Im in favor of any new sanctions we impose on north korea. The real issue whether there is time for them to have an effect. Cia director mike pompeo said a few weeks ago north korea was within a handful of months, his phrase, handful of months being able to drop a thermoNuclear Weapon on any target they wanted to in the continental United States. You name specific ships that youre sanctioning. Unfortunately those are not the only ships in the world. So how long it takes for this really to kick in and have an impact on what is a prison camp economy already is really very hard to say. I support it but nobody should be under any illusions how close north korea is after 25 years of trying to achieve that objective of deliverable Nuclear Weapons. Neil this president had tough sanctions. His predecessors have had tough sanctions. But somehow something makes its way to north korea to get them over the hump. It could be china. What do you do in they find a way to survive all of this. The ships theyre sanctioning now that are doing ship to ship transfers of oil off the north korean coast. That was in violation of same shuns. They put in new ways of sanctions. There are other ways to get oil in. We have done sanctions for 25 years, we have failed, we have failed. Simply doing what weve been doing before is not enough. That said of course i favor this but objective has to be to stop the North KoreansNuclear Weapon program and given the cia directors estimate of timing here, i dont know that this is going to have any real effect. Neil if i could switch gears but as leading conservative in this country the response the president got to changing slightly our gun laws, i stress slightly, even though to the nra are big deals, coupled with Florida Governor rick scott talking about prohibiting the kind weapons, the shooter used, you know, in florida, to those who were at least 21, the president has toyed with the same stricter background checks and the like. That was received postively at least with applause from this crowd. What about the nra . I think what the president s done, i think beginning with listening sessions that he held earlier in the week, saying lets consider this idea. Lets consider the other idea. See what packages are both workable and effective. I dont see anything wrong with that i think in some respects it is long overdue. I think what he has done already on the bump stock issue, simply closes a loophole that existed in a prohibition that years ago people agreed on. No sale of automatic weapons. And no sale of anything that is functionally an automatic weapon. So i think its a contribution to the debate. I think well have to see what gets through congress. Neil that is the rub, right . Ambassador, thank you very much. Good seeing you again. Thank you, neil. Neil were talking about the president s remarks. He also talked when it came to this gun issue schools should be protected like banks and government buildings. But of course this particular school was protected by a guard who had a gun, who stayed outside and didnt go in. Is that part of the problem, and is giving people, teachers guns, who would be interested in having t