Transcripts For FBC Mornings With Maria Bartiromo 20170313 :

FBC Mornings With Maria Bartiromo March 13, 2017

Our job to have a system with universal access to affordable coverage. Thats what we are according to be accomplishing. Maria the latest from the battle of Health Care Reform coming up this morning. Headed towards the northeast right now the midwest kings claim today. The highest snowfall totals of the year expected. We would take you ready for a snowy couple of days. One california town is looking to become a sanctuary city. The outreach coming out. Ambushed at an apple store. Sean spicer confronted while shopping. Now his response is going viral. Things rising to an alltime high. More than 500 a year just on caesar and your banking account. Future searching for direction today. Very much fractional weighting for a lot of things this week. Federal reserve decision later this week. Central bank kicking off a twoday meeting tomorrow when they appeared widely expected to raise Interest Rates. An announcement tuesday wednesday 2 00 p. M. Eastern. Take a look at markets across the yours. Fractionally with a. 10 gain. Gains across the board to report appeared the hang seng in hong kong are better than 1 . Joining me to talk about it, real clear politics political reporter with us this morning. I was a wall street week onsite and former cia officer and radio talkshow host doug sexton is here. Good morning. Good to see you. Welcome back. Health care legislation abg 20 kicks off on friday. Federal reserve meeting tuesday and wednesday in travel ban takes effect on thursday. This is a really big week. Im so interested in health care now president is working behind and over the weekend that constituents coming back this week will be key to watch. Will speak to a Freedom Congress member ron desantis. The Federal Reserve raising magistrates. Im focused on the fed. Im focused on the bond market. What will happen to longer term bonds because there is a real concern something they are not saying. Longterm rates may come down later this week. We know each other for a long time. The bond market is always smarter than the stock market. Trade to go into a Federal Reserve interest rate. Stay with us. Coming up to join the conversation, u. S. Ambassador to the u. N. , john bolton with us. Senior judicial into the list judge Andrew Napolitano is with us. Skye Bridge Capital founder Anthony Scaramucci makes a return this morning. Richard [leftbracket is in charge of an important commission on allocating where the infrastructure money goes. Congressman darrell iso with us is all. We take it off right now with a Congressional Budget Office to report its evaluation of the gop replacement plan for a public air later today. Cbo to look at the numbers of enrollees, with the total price will be. Gary cohen, health and Human Services secretary and speaker paul wright with House Majority whip steve scully is yesterday and it shows. We offer coverage to everyone. If youre your medicaid today just to medicaid. If youre covered under an employersponsored plan, youll continue to be covered under an employersponsored plan. There will be off worse understanding their choices they can select coverage that they want. Its not her job to make people do something they dont want to do. Its a job to universal lack says. This bill does repeal and replace obama cared in the way with a played out over the years. They will keep moving forward and get it done. Trade to does the cbo score impact passing legislation . Once a year for the cbo in terms of the costs, we will also hear the obamacare legislation cost a trillion dollars worth of the cbo expected. Not to put the question, i would do for her because the cbo and the narrative is dirty out there that this step is nonsense. But make a difference . The white house was trying to say they would push away those numbers, trying to set up for what we expect this week. Several different factions within the republican conference right now who dont want to support this bill. See a scenario in which they point to numbers and say look, we dont want to raise cost of nothing. Those selected to support it will look the cbo numbers a project team high. Also moderates arent exactly keen on this bill who might point to the number of uninsured who might come out after this last. People use sick, twisted, whatever whatever way they want to do it. The primary objections come from the structural issues in the bill, obamacare to point out, trump care. Obamacare light as well has to do with the way people are going to be buying insurance on the aspects of the bill can be taken away because it has to go to reconciliation as opposed to the 60 votes they need to get the structural aspects taken care of. A lot of people think republicans have lost their nerve. The cbo score may be useful to have problems with it that the overall structure put forward so far is that the real objection, not just the cost. Maria ron desantis is from the Freedom Caucus which is putting a pushback on this. Lets talk about that for a second. Still a cadillac text of this bill is one issue people are upset about. The other issue is to still have a Medicaid Expansion even if it is rolled back a little. Go to renovate or change it in 2020. Medicaid reform aspect is that what we see in the past based on the individual. States would not keep raising the cost of medicaid, but the sunset provision is something people look at and they will start kicking the can down the road already. They will have to address some of the other, for one, you can buy insurance across state lines say this is supposed to be the holy grail. The rest of the market will fall into place. Right now they still rely to be fine. If you did health care through your employer, youll be fine. The people pushing real reform from the conservative side are saying and you have to make the individual in control of this decision of their choices. Maria yes, exactly. Some republicans preemptively send me their report on the Gop Health Care plan already. Listen to what House Majority whip steve scully said about the particular point yesterday. We have no choice but to me to play better for all americans out there. We would have scored xray. Cbo will do what they need to do. In the past the cbo score has been meaningless. Many more people being ensured that ive actually been insured. The ceo of cbo you have to go with their numbers. Its important to look historically. They then offered health care estimation a lot over the years. Maria dairy ago. Obamacare costs a trillion dollars more than cbo predicted. This is a winner for the white house the past week your info because there it is. Ironically pointed to the cbo score to not support legislation before. It becomes politically these things in certain ways but they do anticipate these things cost more than their projected two. The idea is to bring down costs about the concern. The main concern is the actual policy in the year that extend the programs. If they cant get this done, tax reform wall street will be watching how this plays out. The precursor to tax reform as far as kerry is concerned, gary has been on wall street are 35, 40 years. But putting that out there, it is saying they is saying a look at these numbers. This is about the same. Maria will see what the cbo says. The northeast freezing for a possible blizzard while the midwest is getting planned already. The forecast coming up next. White House Press Secretary sean spicer berated by a woman while he was out shopping at an apple store. Weve got the video for you back in a moment. Bp uses flir cameras a new thermal imagining technology to inspect difficulttoreach pipelines, so we can detect leaks before humans can see them. Because safety is never being satisfied. And always working to be better. At angies list, we believe there are certain things you can count on, like a tired dog is a good dog. [ dog barking, crashing ] so when you need a dog walker or a handyman, we can help you find the right person for the job. Discover all the ways we can help at angies list. The northeast bracing for a blizzard. Adam has the latest right now. It is the biggest system we are tracking here. Just updated through the overnight hours. Everything and the pink shaded areas its a winter storm warning. Is a blizzard warning. Taking in on that every thing from connecticut stretching down to portions of new jersey were talking about near white out conditions. Lets time this out for you. Currently some snow across the midwest. There is a time snap. And then eventually through the overnight hours can buy need with the system lifting to the south. And this is an area we are really targeting. This will be early tomorrow morning. They are beginning to see the early bits of that snow moving in. And then it just continues to pound the coast throughout the Early Morning hours tomorrow into the early afternoon hours and as when the real heavy snow will be moving through as well as the wind. 18 inches to 2 feet of snow when it be surprised with any areas getting up more than that. Is not just the snow its the wind. These represent 70 mileperhour winds. It is meant to be a real big one. We will be here tracking it throughout the entire morning. We will be watching that. New security footage is now raising questions about what really happened on the date that Michael Brown wasatal shot in ferguson. Cheryl casone with the details. The video released as a part of a documentary called stranger fruit. He are about 1 00 a. M. He was trading marijuana for cigarette was and had to employ hold onto them until later. The Convenience Store is disputing this. They suggest that Michael Brown didnt rob the store that video does not shed light on the fatal encounter between brown and officer darren wilson. Out to california this morning. Once it is deciding whether to declarec the city as a sanctuary city. It would bar local attorneys from cooperating with federal agents to enforce immigration laws. The council is set to vote on the measure tonight present trump has threatened to cut federal funding for century cities. And finally, this is over devon sending podcast and Text Messages to its drivers and persuading them to remain as partners. The unions and threaten that threaten the freedom of its drivers to work as much or as little as a wish while advocates for the teamsters say that Union Membership would result in more consistent wages and working conditions. I would also help prevent it were from providing sudden fear changes. Another union fight to tell you about this morning. C1 it is interesting about whats going on in terms of unions. There has been a lot of negative publicity but as a user of uber its fantastic. People already see the cars that can self drive and what they would be using. I dont think they want to encourage uber to get to driverless vehicles. Is a really good point. Its like the burger flipping machine. By the way its fine. C1 we have havent dealt work in a talk about and the next block and thats intel acquiring mobile eye. But you say this is it. When i saw the headlines i said it kinda gives me shades of things and the late 90s when intel was becoming highly inquisitive we will talk about that more and the show. There is a lot of signs out there. I am concerned about a number of things. If you saw over the weekend Insider Selling in january was the highest on record going back 20 years. Will talk about them coming up. Investors are looking at the Federal Reserve. A rate increase is expected on wednesday. Banks are bumping up fees were getting into markets after this short break. c maria welcome back. We have with a big deal to b eport. An israeli newspaper is reporting that they will acquire mobile eye. The stock is up almost 30 this morning we wanted to bring this to you right away. Already tweeting about this. Good to see. Weve a lot to talk about today. We have a fed meeting this week. And now the teller deal what is your thoughts. I think its 30 man. They want to pay 15 billion which is nice. I think we are going to see much bigger deals as the year goes forward i think theyre gonna try to put more and more money to work. And actually do some deals. I think they are as we saw over the weekend starting to come back. It will be seen as a vote of confidence in this market. Do they sell off as they typically would. The market anticipated at the hike so far have a ahead of time its really price into the market. Every administration does is. He should be thinking about other people say is the trump enthusiasm for term enthusiasm for the economy thats pushing us. I think the trump rate that is really 9. 4 i think that is a rate he is concentrating on. It is the people who are working but theyre not working up to their full potential and theres people that want better work. It was kind of goldilocks. The Hourly Earnings were. 2. Also for the fed because its not too hot and not too cold. So they have a nice pitch. Donald trump has been focused on jobs he has been calling up companies for factories overseas see had to attribute some of this change in town to the Trump Administration. Is this attributable to obamas policies. The jobs number cannot be attributed. You cannot attribute anything in january february even march because anybody who is involved with Human Resources hiring nose there is a lead time. The actual hiring that would kick in and the second quarter. c john, you mentioned about mna and obviously the animal spirit you know that typically at the end of an equity cycle is when it picks up. So you think this is a bullish thing or a bearish thing. I think there is a tsunami of liquidity that has yet to be put to work. They said if they reduce regulations by just a little bit thats a hundred billion dollars more. The equifax and in credit agencies are taking bad credit marks scores of a peoples credit to allow th to borrow more. Its riht on the bottom of the paper right now. Those are huge moves that are going to increase the amount of capital and the system. If 3 trillion on the balance sheet. That money has to move off and its going to move off slowly but its kind of like a slow boil. You see the huge bed under this market. And that come up with, with tax reform in 2017. Dont forget compared to bonds and credit. Stocks are still very cheap. They are trading below 17 times earnings and well below 17 times. Its still higher than the 10. How long does this optimism last. How much is is dependent upon Congress Passing legislation on tax reform. We went from overregulation now we know that theres a can i can be any new regulation. Now we still have that to roll back. So once deregulation happens to be an even better situation. Under a republican sweep when the market goes up its usually a good year. I more on the bullish side obviously. I think march will be a slow month. As we get into april, may and june we will start to see that. Weve come a very long way when we return refer to stocks under hundred 70 stocks being cheap. Eight years ago Something Like the s p 17 is something that people were wishing for. And then theres trade. I have exclusive with wilbur ross the commerce secretary he is looking to redo nafta and looking to get to work on that and the next 90 days. Watch this. Our eye activity is to try to deal with the anomalies that exist and update it. This is a old agreement. c you didnt have much of a Digital Economy when it was starting out. You he did not have a lot of Service Industry activity that we have now and its so important to our country. At worst it is outdated. Does every do become a disruption or do you think at the end of the day that markets like this. I think the market is more concerned about the border attack adjustment. Just because there simply unintended congress conflicts that can be unleashed. The Trump Administration has not decided on a border tax yet. I think we are seeing a softening and tone to try to write that. I think Goldman Sachs has upgraded them last night. We saw the ppi in asia is doing quite well. I think theyre Getting Better there. China, im sorry mexico and canada they have a little bit of a relationship going right now. He needs mexico i think his idea is its not manufacturing thats good to make America Great again its energy exporting that will make America Great again. A lot of jobs that are manufactured could go into pipelines and those types of things. We like the new opec. Great to see. Relations with russia. New details. Meeting with the Russian Ambassador. Thats coming up. An unexpected visitor scene. The wild encounter coming up back in a moment. Because i was interested in building a career. I came to ibm to manage global clients and big data. But i found so much more. its really a melting pot of activities and people. applause, cheering new york state is filled with bright minds like victorias. To find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. Search for our page, afoot and lighthearted i take to the open road. Healthy, free, the world before me, the long brown path before me leading wherever i choose. The east and the west are mine. 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