Transcripts For FBC Cavuto Coast To Coast 20160601 : vimarsa

FBC Cavuto Coast To Coast June 1, 2016

Acknowledging that the American People are better off than we were seven years ago. Even he understands we made important progress. Connell the Senate Majority leader is here, Mitch Mcconnell is here to talk about his book called the long game. Should have a nice long talk about that. Interesting to hear the white house 8 you as almost a source. Dont know where they got that. I have been saying the opposite. The middleclass is shrinking, the worst recovery after a deep recession since world war ii. The number of people on food stamps is at a record level. The Labor Participation rate is where it was under the carter administration. I dont recall saying anything optimistic. Connell maybe we are better than we were at the depth of the recession. It was convenient for the white house. Another way of looking at it is how does this compare to other deep recessions . The worst recovery after a deep recession, the pattern frequently always has been the deeper the recession the quicker the downside. Deep recession, slow bounce back, americans average 4 growth rate throughout its history. A single 2 45 growth rate. Connell what is the biggest problem . Does Congress Deserve some blame along with the white house . No because this is about the Regulatory Regime that has been descending on the country. Some of it is the result of legislation passed the first two years, the president had total control of congress, trade over stimulus, obamacare and doddfrank but once he lost control of congress it has been on the regulatory side, you see the epa, name the agency, everyone has been on a regulatory rampage that clogged up our system. Another way to look at it is the administration put their foot on the brake, they need to take their foot off the brake and put it on the accelerator to get the country moving again. Connell donald trump is the republican nominee for president , you endorsed him, the policies he put forward, are those the policies the do what you talk about . Some of them. I dont agree on everything but Hillary Clinton will be a third term for barack obama. Connell what about trump . Simply went into the oval office after getting sworn in, executive orders and regulatory pronouncements. It is a step in the right direction. Connell you said your self you dont like everything about him. Why dont you endorsed donald trump or pool a paul ryan . This is a choice. We have two nominees with disapproval ratings, Hillary Clinton is going to be the democratic nominee, donald from the republican nominee, you may fantasize about somebody else, you may have supported somebody else in the primary but this is the choice. Connell there is a third party alternative. That will not succeed and only elect the on that was i would not want on my conscious as a conservative leader that i did anything that made it more likely we would have four more years just like the last eight. Connell talking about bill kristol . Bill is a smart guy but making a mistake because the choice is the choice. This is what we have. Most voters are not wild about these, one of them will be president of the United States. Hillary will have the same approach we have seen the last eight years. If you want the best argument i got two words for you, Supreme Court. Connell that is what it comes down to. The next president will make this decision. I made the decision, colleagues agree with it that we wont let barack obama build this legacy on the way out the door. The American People speak first and then we will decide who to make this appointment. Connell this is a backwards way about decisions, i want to talk about it, but decision you made a long time ago in 1964 to those in your book, to finish up this conversation on the thirdparty, bill kristol mentioned apparently it has been reported, david french, the writer, no chance . No chance. Connell doesnt even, why bother . We have a choice. Whether we are excited about the choice or not. Connell i was surprised by a few things in your book. We didnt know a lot about you as a person. We know about you as a public figure, you have been in the public eye for a long time, the senate since 84, the majority leader the last few years so you are one of the more powerful politicians in the country but didnt seem we knew a lot about you personally. We could talk a little bit about that but to tie everything we were talking about together, 1964, you were a big supporter of Barry Goldwater which makes sense to a lot of people who follow american politics that a conservative leader would have supported Barry Goldwater. But you didnt vote for him. I didnt. I had invited him, i think he came for other reasons but i was a student i invited him to come to the university of louisville, he did. I got to introduce him so i was an enthusiastic goldwater supporter but deeply deeply disappointed in his decision to oppose the civil rights bill of 1964 so i ended up casting a vote i subsequently regretted against goldwater. And i felt badly about it forever afterwards because most of what i liked about goldwater was important. I thought it to find the Republican Party incorrectly. Hard to believe today but a higher percentage of republicans in the house and senate voted for the civil rights bill of 1964 than democrats. Every republican leader was a leader in bringing that about and so it defined my party is hostile to a very significant percentage of americans who were in a very tough situation as a result of segregation. Connell a longlasting mark and a change in the Republican Party and some are making comparisons not directly but in the way the party could change now with donald trump this could be another turning point for the Republican Party. I dont think trump will change what republicans believe, we are americas right of center party. It doesnt change my view and most of my colleagues you about what the country ought to do but i would rather have donald trump make the next Supreme Court appointment. He put out a list of people all of whom i thought would have been outstanding. I think he will have to operate in a right of center world and within the constraints of the constitution and the other things that restrict all of our abilities to do what we want to do. Connell did that experience, that goldwater experience shape or change the way you think about modernday politics and affect the way you think about this race . That was a unique issue. I dont see this as defining as that was. And to deal with that mistake we made at the outset of the country it was a defining moment and goldwater was on the wrong side of history. Connell people read your book and in the beginning defining moments for you, one of them happened when you were a toddler. Had polio when i was 2 years old, my dad was in europe fighting the germans. Connell 10 years before the vaccine. My mother was struggling with the come back, polio has been eradicated today but what would happen is a flulike episode and it went away, there you could be anything from dead to completely recovered or various forms affected by left quadriceps, the area between the knee and the hip. And it was a treatment ctr. President up for polio victims. She really watched me like a hawk for two years and administered this, first memory in life, and said to my mother, and walk without a brace or a limb. Connell that is the first you remember . First memory of life but an early lesson, i was 4. The episode was from 2 to 4. It was a defining moment for me. We have these things that occurs was early in life that are significant down the road, work hard and keep at it and a chance, and barriers between all of us. Connell went into shaping who you were. You wanted to be a senator for a long time which i thought was interesting as well, you planted and plotted it and took positions that would set you up for it from the time you were in your 20s, as a professional baseball player. After coming up a basesloaded homerun in an allstar game i decided i better go in a different direction, picked a different competition and run for president of the Student Council in high school and having a Successful Campaign and one thing led to another and i found myself in washington as an intern to a senator when the civil rights filibuster was broken, maybe someday i might pull this off myself. Connell one thing didnt lead to another. You had it in your head. Never did anything on the spur of the moment. This is an instant gratification era we are in, overnight sensations pop up over time. For me and never worked that way. I was always a little bit skeptical about simple answers to complex solutions are thinking you could start late and succeed. I was always a planner. For me it worked. I think it works for most people. Connell i would think as Senate Majority leader of the United States as people would say that works. Good luck with the book, it is a different side of you that people dont know about. Appreciate the opportunity to be here. Connell senator Mitch Mcconnell, the long game. Hillary clinton, whether it is a long or short game fighting for the state of california. Another big story today getting set for a big Foreign Policy speech she will make out there, that will be tomorrow, longtime clinton confident lanny davis is next on what we can expect and later in the show we have the libertarian ticket, two of them, here in studio on where we go from here, that is coming up, keep it here. Connell back on cavuto coasttocoast, two stocks that are looking lower, the athletic gear category, under armour is down, stock, the company had week revenue guidance, stock is down 9 , nike falling with it. Both of those are down. This story combines the world of business and politics, convention cash, not just the candidates that are fighting for donations, hewlettpackard has reportedly joined with other Big Companies in stopping or cutting back on donations to the Republican Convention this summer. Proactive to medications president mark serrano joins us with what is behind this. It is not the only company doing it but it is unique to the republicans as opposed to the democrats, trump rather than Hillary Clinton, these companies dont want to support him and the party at the convention. What do you make of it . A big mistake for a publicly traded company not to pick the democrats over the republicans because donald trump wins this fall, they are not going to be properly positioned come next year. If they are going to make a change they should abandon both conventions. That is what i would advise them. They are falling prey to pressure from leftist organizations, one called color of change which was founded with george soros money and dan jones from the obama administration. Coming to this pressure is a big mistake, publicly traded company should give like they always have to the Republican Convention and the democrat convention. Stuart connell makes an interesting hypothetical. If you think about it the pressure is coming from groups that they Race Relations or something they care about, immigration, they are uncomfortable with trump. Get a company like microsoft that says we are not going to give to the republicans but we are going to continue to give to the democrats in philadelphia. You would advise them to take away from both. Say the first part, forget your political beliefs, it wasnt even trump, someone did something so outlandish you couldnt support them and whatever trump has done but someone comes out and did something terrible, is that the right thing to do . You pull back, punishing one because of what the other did . It is a slippery slope, take a look at these companies, multinational corporations, what are their interests . What are countries that are doing business, perhaps discriminate against women . That is interesting. What is interesting about hp in this case they wont give any Cash Contributions on the Republican Convention, last time in 2012, gave 150 cash but gave 400, computers and printers and other things and maybe having it both ways, they may be getting income contributions. Connell you see the numbers, gave 660 last time and 75 grand this time. Good to see you, mark serrano. These new retirement rules that are now set but businesses are set for a long legal battle, a lot of people have retirement accounts, we will talk about it after this. charge music you wouldnt hire an organist without hearing them first. Charge so why would you invest without checking brokercheck . Check your broker with brokercheck. Innovative sonicare technology with up to 27 more brush movements versus oral b. Get healthier gums in 2 weeks guaranteed. Innovation and you. Philips sonicare. Save when you buy the most loved rechargeable toothbrush brand in america. Connell we talk about the republicans, the white house is facing more business\. The chamber of commerce it to challenge the administration retirement rules, a lawsuit expected as early as today on that. These rules require retirement brokers to act in the best interests of the client which sounds good but creates some issues. John layfield, what issues does it create . It is important for people with iras that they know about these. What issues does it create for you . You are right the one thing you said, it sounds good on the surface but i walked for wall street for a number of years, you put your clients first by law. You can straight your own account, cant trade in your own interests. Those rules are already there. What this is going to do is if you have a broker that sells your mutual fund and he gets a fee from the that, if you start taking that away you lose your middle class and lower income without going to Financial Advisors anymore but say the mutual fund goes down in price, this opens up to a classaction lawsuit for that broker, this is like going after the streetlevel vendor for selling cocacola, he didnt give himself that bonus, the Mutual Fund Company does it, this is backwards to the way the administration is doing it. Connell is the solution searching for a problem . People try these retirement accounts, are they in some cases, they are not doing a thing to pump up some product you dont know about and i want to know about that if i am the person in question . This is the tale wagging the dog here. More importantly the mutual funds, exotic vacations, and need to go after the Mutual Fund Companies that is allowable, dont allow this to the be the broker, going at the top. Doddfrank, you thought you fixed something but you didnt. You take Financial Advisors out of the market. Connell is there a fix that needs to be put in place . The fact you have to put your Customer First is already there. You are doing more regulation on regulation, the mutual funds put a set fee, john vogel in 1975 for the etf, they hated him but it was low fees into a great product, you needed cyclical fees to prevent mutual fund from buying off brokers and selling their products. Connell always good to see you, john layfield. The breaking news on the bottom of the screen with regard to the egypt air flight. You might have heard there was a signal detected in the mediterranean. We heard from a French Company that signal is from the flight recorder. One of the black boxes, the flight recorder of the crashed egypt airplane. They were looking for deepwater divers to come in and look for what the signal was as if we get any more information we will throughout the day, we will pass it along. Amazon hitting a new lifetime high, the fifth record high of the year for amazon, some run up to 700 plus. We will talk about the ceo jeff bezos. He said something about the future, forget the stock, raising a lot of eyebrows, the future of technology and what is ahead and what type of things we will be using. Jeff bezoss comment on amazon, coming up. Connell back on cavuto coasttocoast talking politics, sheldon is a big time moneyman in the Republican Party. There are reports about setting up a pro trump super pac which might be big. Charlie gasparino has been all over this type of thing and put in the past confusion and republican donors on how they can fund trump and he joins us now. I ran here for you. I ran here. Connell i said get a handkerchief. Two people i run for, you and cavuto. Connell fair and balanced, irish and italian. The only disappointment internally yesterday was there was no namecalling towards you. Charles he didnt call me a sleazeball. He looked the other way, looked the other way when my producer, he didnt pick my producer, brian schwartz. One of the problems donald has against the clinton machine, one of these drawbacks, may be 10 billion but he is not liquid 10 billion. Connell he doesnt need as much. He raised 700 million, he got Anthony Scaramucci doing it and one problem including boone pickens. And they dont know which super pac to give to. Some of these were run by guys who were not remotely connected to the campaign. If and when this happened, it would be a huge thing. It is a legitimate fundraiser, supported Newt Gingrich last time and raised money for it. He can pick up the phone and make calls and people answer and this was a huge step. The problem donald has in this area is this should have been established months ago. Connell getting a late start on the number of things, you think there would be any issue in terms of money, not short money . Charles depends who you talk to. Plenty of people say they wont give to him, texas is a huge republican state for contributors and the word i got from the major contributor is if he is so rich, let him fund his own, we wont go there. I ran into some gop people after i was covering, that is where a lot of r

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