Transcripts For FBC Varney Company 20141118 : vimarsana.com

FBC Varney Company November 18, 2014

Professor gruber meet fox news cameras. Professor, do you really think the American Voters are stupid. No comment. What about the obamacare, is that just a hoax on American People . Stuart bret baier joins us shortly with more exclusive items on the gruber tapes. Check price of Health Insurers, i should say. Four are hitting lifetime highs. How about that . Well you know a front page story in todays New York Times, i repeat the New York Times. Details a cozy relationship they now have with president obama thanks to obamacare. Charles payne is here. Charles, they used to be enemies. Now theyre friends of the they used to be greedy. Now theyre making valid profits from obamacare. Maybe they never were enemies. That is way the president presented it to the public. Stuart thats right. Because, that is his specialty to pit people against something. Of the. Stuart unpopular, beat them, beat them, beat them. Beat them to death. Theyre the enemy. Im your savior, give ability to bo in there. What happens . They wrote the law. Tell you how fortuitous this is for them. Goes into effect, march 23rd, 2010. Since then aetnas stock 156 . Humana up 196 , United Health is up 206 . 206 . Absolutely amazing stuff. Stuart theyre so greedy. Oh, my goodness. Stuart let me detail humana for a second. They have done extremely well out of Medicare Advantage which is booming within obama care. They get 65 of their revenue from the Medicare Advantage program. That is how good it has been from obamacare for them. That article you talked about, New York Times, they make a great point. Between now and 2023, you add up medicare, medicaid and the obamacare, 170 million americans, 50 from where it is. If you took plain ol business, regular business from employer base, that would be 159 million, up 2 . Stuart that is money funneled directly into the insurers. We got no competition out of this. Instead, the established players have just, just possibled up gobbled up the wealth. We empowered a group of pirates. They do what any business would do. Idea it was sold to us in a way that was absolutely ridiculous. Stuart okay. Charles, thanks very much indeed. Astonished to sea it on the front page of the New York Times. Thats a headline there. Stuart head to capitol hill, senator jim risch republican from idaho joins us right now. Sir, looking at all the evidence from the gruber tapes and all over the place, surely there is a case for the flatout repeal of obamacare, not tinkering with it, repeal this thing. Where is your vote, senator . Well, i, it is not in doubt, that is for sure. I didnt vote for it in the first place. Those of us that fought against this predicted exactly what is going to happen. Look, this administration has no appreciation for the free market system. If there was a posterchild for why the government shouldnt involve itself in most sectors of the american economy, this is it. We, republicans what we want to do is flatout repeal and go back to a marketbased system. The American People are not stupid. Stuart right. But, senator, will you do it . They can take care of themselves. Stuart will you do it . President obama virtually declared war on congress showing he will push this immigration amnesty idea. He declared war on you. Are you going to to reciprocate, were repealing this thing. Were not tinkering. Well go headtohead . Are you going to do that. Weve already done it. We had number of votes both in the house and senate. Stuart will you do it in the next congress that sits as of january . Will you do it . There will be, there will be able to do that. Remember, it takes 60 votes in the u. S. Senate to pass Something Like that. And then it takes 67 votes to override president ial veto. Likelihood of a flat repeal going through is pretty slim. Having said that, we need to keep reminding the American People this is and should be an issue in the 2016 president ial election. This thing has not worked. It is a posterchild for how the federal government can muddle up any part of the free market system that it touches. Stuart yes, sir. Now there is a keystone vote today in the senate. Mary landrieu, senator from louisiana says, she has 60 votes which would advance the pipeline. Do you think she has got 60 votes . I cant answer that. If it is not 60, it is very close to 60. I would suspect the white house is probably got a list of democrats that they think are going to cross over on this and theyre probably twisting arms pretty heavily right now but we need to have a vote on this and put it on the president s desk. Again, the government has absolutely no business, involved in this decision. I hear people from the administration say, no, well, this is bad oil. It will never sell, the market is too low now. The government should have nothing to do with it. Those are questions that the marketplace should answer. Stuart senator risch, thank you very much for joining us. We do appreciate it. Busy day for you. Thanks for taking the tile. It is. Stuart turns out president obama not only knows Jonathan Gruber, he stole his ideas. And according to a new report today, gruber is the advisor who convinced the president to include the individual and the employer mandates inside of obamacare. Bret baier host of special report on fox news joins us now. Gruber is not an independent analyst as claimed. He is bought and paid for but he never declared this. The fix was in, bret. Your report last night showed precisely that i think . Yeah, stuart. It is amazing if you look back at that time, how many different people, not only in the administration but on capitol hill were citing Jonathan Gruber as an independent analye who wat economics professor. He was never titled, has a contract with hhs for 400,000. He was never titled, helped to actually write the law in both the house and senate version. He was never titled, advisor to president obama to get this piece of legislation across the finish line. He was all three of those things, and it was really a circular pep rally, not a circular firing squad. It was essentially a machine that kept on citing gruber as objective analysis and then, would take the residual benefit of saying this is the right piece of legislation. Stuart now, today, on competing network. Steven rattner, who is inside of the white house on frequent occasions in the early years of the administration, he said that, gruber, quote, he was the man. Literally he said. That he was at the very center of obamacare. This is democrat saying he was right there. He helped write obamacare. Now everybody else is running away from gruber. This is an extraordinary situation. It really is. If you look at the statement that the president makes in australia, that it was some advisor who said something that he doesnt agree with, just some advisor, then you look at nancy pelosi saying, i dont even know him, it is really stunning. It is like in your face, stunning, just not true. And i think that, even for the people who watch media bias, and say, you know, all the time, that there is this disparity, this is even egregious on that level. The fact that it wasnt covered for days and days and days. Some networks only doing their first story today or yesterday on gruber. Stuart so where are we going with this thing . Seems to me that if obamacare is falling to pieces. Certainly chaotic at this moment. Riddled with this internal scandal from gruber. Does that just fire up the republicans to get out there and repeal this thing . It does, stuart. But you know, you just talked to the senator. They can do that. They can move it through. They can move through a piece with reconciliation. In other words 51 votes, not 60 needed. Can get to the president s desk. He is not going to accept it. He will not sign that. So he will veto it and send it back. So they dont have votes to repeal it. They will try to dismantle it, one piece at a time. Medical device tax, 40work week. Individual mandate. There will be some problems along the way. I think the biggest challenge to obamacare in the short term, minus a republican president , would be the legal challenge in this new court case. It is not new but the Supreme Court has given cert to the case that challenges subsidies and irs dealing with obama care. That is the biggest challenge to the heart of the law. Stuart think of all the time this will take up in the new republican congress, dealing with obamacare, instead of dealing with some kind of tax reform, energy reform, which could get the country moving. I do think, stuart, they will not spend too much time. They will do repeal vote first, we did it, we ran on this, were doing it, sending to the president s desk. They will quickly pivot to other things. Stuart if youre in the political business, then youre going to have a wonderful two years i suspect. Were covering it. Stuart precisely. Covering it. You will have a lot of fun there, bret baier. Thats right. Stuart well be watching special report, brett. Thanks for being with us today. All right, stuart. Stuart i have to describe this as a gruesome terror attack in israel, just terrible. Two palestinian men storming a synagogue in jerusalem, armed with knives, axes, guns, brutally attacking worshipers. Four People Killed in the attack. Three were american citizens. Eight others injured. Both attackers killed at the scene. First time Tuesday Morning lets check the market for you. I have good news for you. The dow is getting back close to 17,700. Not too far away from the highs for the dow industrials. Look at the dow components, home depot. It is a, now a loser. Down 1. 3 . The stock doesnt seem to have taken much of a hit this year after those data breaches. But, it is taking a minor league hit this morning, down 1 . Here is the question. Is home depot a buy . Look at time of year that were in. They sell a lot of stuff we use in the fall and winter. Is it a buy . Well ask one of our stockpickers. That comes up in the next hour. Another big name for you, urban outfitters. They sell teen clothing. Disappointing profit, down they go, 9 taking it on the chin there. Price of oil still a fouryear low. Aaa says gas prices are sliding for 53 days. 74 a barrel for oil. 2. 87 is the National Average for gallon of regular. Were pack to the trend, down a penny a day per gallon. No change for the cheapest gas in the line. Still at 2. 25 at 44 foodmart in Oklahoma City. Still 2. 25 at the stripes station in spring, texas. President obama advancing his green energy agenda. He wants 100 billion to prepare for Climate Change. I have an editorial comment, if you dont mind. That is nonsense. It is an excuse to spend money. How many billions will go to Climate Change consultants . There is a question. A Senior Executive at uber the suggesting that the company should dig up dirt on journalists and spend a Million Dollars to do it. What would the judge think about that . He is next. Tdd 18003452550 [ male announcer ] your love for trading never stops, tdd 18003452550 even on the go. Tdd 18003452550 open a schwab account, and you could earn tdd 18003452550 300 commissionfree online trades. Tdd 18003452550 so if you get a trade idea, schwab can help you take it on. Tdd 18003452550 were getting a lot of questions tdd 18003452550 about organic food stocks. Tdd 18003452550 [ male announcer ] sharpen your instincts tdd 18003452550 with indepth analysis by schwab experts. 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Higher costs at dicks sporting goods, growing sales, higher costs only down 30 cents. Big number for you, the white house unveils a Climate Initiative that could cost 100 billion when all said and done. Charles payne, the they are powerless to stop it. All pen and phone, right. The Supreme Court said, clean air act, they greenlighted that to be ultimate weapon. It is like that hammer that, thor had and nothing anyone can do about it. That number is low compared to all the other things. There are at least four or five things coming on. You have the whole thing with the ozone. That will be 270 billion. Youve got any, mitigating any kind of power plants being built. It is just, it is unimaginable the kind of destruction they will continue to levy on our energy system. Stuart they will spend a whole lot more money without a vote in congress for it. How many consultants, at a couple Million Dollars a year are they going to use, already bought and paid for . They know exactly what they will recommend. How many of these guys are working . How Many Americans will lose jobs. Stuart how Many Americans will lose jobs. How competitive will we be. To be a Global Player and have a manufacturing renaissance is cheap natural gas. Stuart right. Amazing. We can not mess that up. We cant mess that up. Stuart they drive me nuts. Theyre always do you down. Take everything for granted. Take their freedom for granted. Take their safety for granted. They take their wealth for granted. Guy like rupert will talk about living in ivory tower, get rid of military, constitution, Everything Else and see how quickly someone snatches you out of that apartment or tower. Stuart wellsaid. Uber doing damage control avenues website buzzfeed, a senior uber executive who appeared on this program occasionally, he discussed digging up dirt on journalists who were critical of the company. All rise, judge Andrew Napolitano is here. Hey, uber is a libertarian company. Youre a libertarian. What is going on . Initially sounded libertarian and that it is pure free market, unregulated by local government the way the taxi and Limousine Commission regulates the rest of the car services here in the city. Stuart right. Look, if he wants to do that he will run the risk of whats called false light. That is the public exposition of right facts in which the public has no legitimate interest and that will give rise to defamation actions. This is one area of defamation law where plaintiffs do succeed. Think of it this way. First amendment protects freedom of speech. It is intentionally difficult to sue people for abusing speech in this country, except when they expose private facts that are not newsworthy, just for the sakes of embarrassing somebody. That is a cause of action in this country and mr. Michael would invite himself to become a defendant if this happened. Stuart in fairness we have to put out ubers statement. They released this statement, we have not, do not and will not investigate journalists. Those remarks have not basis in the reality of our approach. That is from uber. Sound like he just heard from his board of directors. I got to move on because youve got an interesting angle on the Supreme Court case which will be heard about obamacares subsidies. I think that bret baier was on to something and was absolutely correct when he said this is probably the most effective weapon against obamacare in the present arsenal of democratic president and republican congress. And that is this case before the Supreme Court of the United States basically over whether or not the irs has the authority to grant subsidies and tax credits to people in certain economic categories. If the court decide the irs does not have that authority, i think most economists agree, perhaps even the good professor gruber would agree, that obamacare will collapse because it will be unsustainable. It will have profound effect on Insurance Company stocks, et cetera. Stuart thats a good point. This is based on an ambiguity in the statute. One wonders if that ambiguity was put in there by the same professor gruber in order to dupe those who were going to vote for the statute. Here is the ambiguity. The state says, that tax credit and the subsidies are only available in the states where the states have established exchanges. The Supreme Court said that the statute can not compel the states to establish exchanges. So only five of them did. In the other 45 states, the feds established the exchange. Question, is the tax credit lawful where the states have not established the exchange but it was established in their behalf . Stuart okay. But why would gruber sufficiently ambiguous . Stuart why would he put it in. Why would he put anything ambiguous in the statute . Stuart tell me why. In order to hide the true purpose and effect of the statute, which is redistribution of wealth. Stuart oh, to compel states to start their exchanges . Correct. Supreme court said congress cant compel unless congress pays for it. So congress ended up paying for it. Stuart have we any way of finding out who put in that ambiguity as you call it . I think when the Republican House puts the good professor gruber under oath in january, you could sell tickets. Stuart if there is one thing, one thing in congress we will cover gavel to gavel, walltowall, that will be it. You will not get a

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