No wonder the trump rally in reverse because they may not legislate what is needed for growth. Later, the president meets women who runs Small Businesses. Lets see if they have anything to say about lifting the tax burden on them. And this man, texas republican ted poe has left the Freedom Caucus which led the opposition to the obamacare replacement. And politics in turmoil, your money sinking, Varney Company is about to begin. I think we can safely say that the markets will open lower in about 28 and a half minutes time. Well be well into the triple digits, maybe 150 on the down side. And thats the debacle of friday and the future of tax cuts Going Forward of the look at goldman and jp morning, both dow stocks, they are going to be a significant drag on the dow industrials, both of them down very sharply at this point, thats premarket. How about the Health Insurance . Well, the Insurance Companies are not way down, but theyre all coming down this morning, again, not a lot, but theyre down. How about the hospital stocks . Where are they this morning after the friday debacle . Well, the hospital stocks are up. It takes some explaining, but Health Insurers down, hospital up, how about the drug makers . This is premarket, the big guys down quite a loit, actually, running up to about a 1 drop for the two big kms. Financials down across the board and we see significant droms. Joining us right now, James Freeman with the wall street journal editorial page, james, look, i say flat out the debacle on friday jeopardizes the tax cuts were hoping for in the immediate future. I say it jeopardizes them and you say . Youre correct, stuart. You look at the market and look at the down arrows this morning, s p has been trading over 20 times trailing earnings, thats not cheap. As you said, a lot of this has been the expectation the trump rally, obama rally that we are moving to new policy. An of friday, you really have to wonder about that. Stuart its in jeopardy. If the president is reaching out to democrats, what kind of tax cuts would a democrat agree to sf its going to be watered down at this point. It looks like it at least. Right, and i think republicans have to think now some of the Lessons Learned from the friday debacle as we go towards tax cuts. I agree Freedom Caucus took the best deal theyre going to get, but the president and mr. Ryan have something to learn here as well and i think it goes to maybe the border adjustment thing, i think it would be good and pro growth, but its clear they have not sold it and educated members on it. Even senators like lindsay graham, and ben calling it a tariff. And what they didnt do is explain how the obamacare fix was going to bring premiums down. Stuart at this point the border adjustment tax is the divide within the Republican Party which is putting the whole tax reform effort in jeopardy. Liz the coch brothers dont like it. Stuart so theyll put their money there. Liz and the Freedom Caucus guys are in safe seats not the seats that hillary wants. Stuart and thats a loss of maybe close to 600, 700 points below the high that we reached right after the election. Okay, more in a moment. Listen to this one, ted poe, a republican, hes left the Freedom Caucus because of the failure of the Health Care Bill on friday. Here is what he said on fox and friend earlier this morning. We spent an hour and a half with the president of the United States, with the vicepresident , members of the cabinet, and talking about trying to make this bill better. Changes were made and at the end of the day, it still was a no. And i think that was improper to continue to vote no. Sometime youve got to say yes and this was the time to repeal obamacare. Stuart sometimes youve got to say yes. Joining us now, david webb. I hope that ted poe and what he did was a sign of things to come. What do you say . I think with the arm twisting in d. C. , it possibly is for some of the caucus member. Foresight is the wisdom to learn from hindsight. If you dont care about who gets the credit you can move the ball on moderates and conservatives, in d. C. Have failed to move the ball on Obamacare Repeal, replace, whatever form. So the American People are still losing and this close to bringing down the democrats are obstructing. And now the republicans are propped up. Im sick of who is getting blame or credit, what theyve been doing. The American People are paying the price for their failure and obamacare is still in play. Stuart youve got to hope that they learn from the failure. Regardless who is blamed, who gets the blame for fridays failure, theyve got to learn from it, theyve got to be the party that governs. Extremes dont work in washington. Youre not going to get your 100 , or your 100 on any side of it. Find the way to move it forward, and then fixes. Dont be like the democrats, we say combine it with tax reform. By the way, President Trump, go hard on tax reform, go hard put your foot on the gas and go through the wall. Stuart strong words on President Trump on the failure of the Health Care Bill. Roll tape. Ive been saying for the last year and a half the best thing we can do politically speaking is let obamacare explode. It is exploding right now. Stuart let it explode. It is exploding right now. Okay, i understand that. Who gets the blame when it does explode . I suggest its going to be the republicans cause they failed to reform it. Look, the democrats will rewrite to the history of now, which is this is your fault cause youre in power. Its wrong, but thats how theyll write it to the public. For the republicans in not safe districts, you will get the blame because they will be effective turning against you. A little advice to the moderates, and the conservatives. Conservatives go to work with the moderate when you get repeal through on tax policy and help them. To the conservatives, you know, flip it around. If you dont Work Together and support each other, you will end up losing a lot of seats in the house, and that balance can become very close. And if you lose, if you dont win, you dont make policy. Stuart okay, well, hold on a second shall back off or one second. What does our Health Care System look like later this year, when if the president is right, obamacare implodes, explodes, whatever it is. Millions of americans will pay the price or actually be unable to pay the price and the subsidized costs and that will hurt our economy and thats exactly where its going to come down to business hiring, jobs, and the economy. Stuart will it be so bad that the republicans go back to the drawing board and say, weve got to do something and we will do something . I think they will if it ever got that bad out of desperation because at that point they have less to lose and more to gain. Politicians are risk averse. They get in front of the cameras and say whatever to the base, but theyre afraid to go back to the constituents and say this is the best we can do and go forward. The litmus test on both sides is not going to work. What do we have today . Weve got obamacare on monday. Exactly, weve got obamacare and all of the faults with it as far as the eye can see. Im going to try to calm down and i think you should, too. Im down to 160 110, its manageable . Really . Listen to this one. United airlines refused to let two preteen girls on a flight because they were wearing leggings. Well, outrage on social media over this one. United, however, the airline says theres very good reason they werent allowed on. Were going to bring you the full story, thats a promise. One of ubers selfdriving cars in an accident in arizona, the uber car was hit by a car with a human driver, ended up on its side. Nobody seriously hurt, but uber is now suspending its selfdriving tests while they investigate. Defense officials tell fox news, 200 additional troops are being deployed to iraq and syria. Theyre going to fight isis. Here is my question. How donning do they stay . More varney in a moment. Kevin, meet your father. Kevin Kevin Kevin KevinKevin Kevin KevinKevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond JamesFinancial Advisor can do for you. Price of gold at the best level in a month, why . Because the dollar is way, way down. That helps the price of gold go up in these times of political turmoil. 1262 per ounce right now. How about this . Snap, a winner at the opening bell. Many investment firms say buy it, its premarket trading 23 on snap. The pentagon is sending 200 more troops to fight isis in iraq and syria. Ashley where theyre going we dont know. There were rumors floated around 2000 troops were going. The pentagon says no, way, 200 from the 82nd airborne. We know the battle from mosul has been going on for five months and theyre turning their eyes to raqqa, the selfproclaimed capital of isis. So, i would say militarily, isis is definitely on the run, but its hard to get the job done. 200 troops, is that going to make the difference . Well see. Stuart theres a lot or there. Ashley there are. Stuart were on the ground and firing, we are. Stuart fighting in the middle east. Ashley leading the coalition. There you go, more in a moment. Let get back to the Republican Partys failure to replace obamacare. Our next guest says this debacle will not hurt President Trump with his base. Pastor Robert Jeffries now. Let me bring this to your attention, im sure people said this to you. The failure on friday means were still funding planned parenthood. I dont think is base wants that. The failure on friday, were paying high taxes, high deductibles, high premiums, i dont think the base would like that. How do you think that one way or another the base is happy about what happened on friday . Listen the reason, stuarting that evangelicals turned out to support President Trump is because of his commitment to select conservative Supreme Court justices, defund planned parenthood and protect religious liberty. As long as he delivers on those issues eventually, i think all of this disappointment over the failure to repeal obamacare will dissipate very quickly. Its amazing, stuart, how one or two conservative Supreme Court picks will cover a multitude of sins with evangelicals. By the way, around planned parenthood, theres more than one way to defund planned parenthood. Stuart where i differ with you, i dont think that evangelicals are so narrow in their voting. It wasnt just planned parenthood and Supreme Court justices, it was jobs, growth, prosperity, lower taxes and less government. On those issues, the president at this point has not delivered. Being lialiao look, i was in a number of meetings the last 18 months between evangelical leaders and President Trump, never once was the repeal of obamacare of concern. I think that its good that President Trump stood up to the Freedom Caucus. They were about to go against preexisting conditions and keeping kids on policy until age 26. Had he had been held hostage i think it would have been devastating. Im glad the president stood up for this group. And portended for other deals. Stuart the Freedom Caucus turned down a partial fix of obamacare and what weve got instead is full on obamacare, taxes, deductibles, premiums, woo of got it as far as the high can see. I simply cannot see how thats a success. Well, i dont think its over. I think he eventually will get this done, but i think hes wise to cut his losses with the losing hand he was dealt and move on to issues like tax reform. Dont get discouraged, stuart, its not over yet. Im not discouraged and its not over yet. I at meyer your attempts to cheer me up and get my Blood Pressure down. I know youre praying for me, but, tax cuts could be delayed because of this debacle on friday. Look, im very conservative, but i realize this country is not far right, its center to center right. And i think the president has an about thor chance of cobbling together without the Freedom Caucus than held hostage by it. And i think it shows that President Trump is a strong leader and knows when he has a losing hand dealt to him and live to fight another day on this issue. Stuart hes reached out to support from the democrats. Which taxes do you think a democrat would cut . Well, stuart, youre the economist on this, so im not going to pretend to play one on tv, but im not giving up hope at all. This is just the first 60 or 70 days, theres much more time to go. Stuart and if the democrats come into the coalition, do you think they will defund planned parenthood . Well, i think that President Trump is going to have to carry through on this provision to maintain his evangelical support and i think he will do it eventually. Stuart okay. You see things sunnyside up this morning. And i admire your outlook and positive smile. Thank you, stuart. Stuart good bless. Jared kushner, the president s soninlaw gets a new role. He wants him to use his business skills to take on the d. C. Federal bureaucracy, trying what no one has done before. Livestream your favorite sport at the airport. Binge dvrd shows while painting your toes. On demand laughs during long bubble baths. Tv everywhere is awesome. The allnew Xfinity Stream app. Xfinity. The future of awesome. The biggest week wow, watchathon has netflix . Hey, drop a beat. [ beatboxing throughout ] show me orange is the new black. Wait, no bloodline. How about bojack . Luke cage. Oh, dj tanner. Maybe show me lilyhammer. Mmm, show me last chance u. On second thought, maybe pompidou. Narcos, fearless, cooked, the crown. Marco polo, lost found. Grace and frankie, hemlock grove. Season one of. Show me house of cards. Xfinity watchathon week starts april 3. Get unlimited access to all of netflix and more, free with xfinity on demand. The dollar is at its lowest level since november. Thats why oil is back to 47 per barrel on oil. President trump has selected his soninlaw and advisor Jared Kushner to fix bureaucracy. James freeman still with us, glutton for punishment. American innovation, is that an uphill struggle . Lets hope its Something Like the Grace Commission from the 1980 a he is when Ronald Reagan wanted to take an ax to bureaucracy. But reasons to be optimistic, we talked about how the effort is going to be a heavy lift now after friday, but i think you have noticed maybe a little more quietly, that the congress has passed a number of these repeals of obama regulations and sent them to the president , so, these are not huge changes, its not like the obamacare fix that we hope will come eventually, but this is an area where the president can make some progress, just not harassing business, is step one and peeling back some of the regulations would be helpful. Stuart it would have to be regulatory change to do at the executive level. If you go to congress for the changes, its probably not going to happen so hes got to thrust from within from the executive branch. The good news if you go to congress on some of these things, you dont have the budget rules to prevent you from cutting taxes that liberals created years ago. You have a little more freedom when youre cutting regulation, assuming you can kind of the political concensus and thats what the president needs to work on. Stuart i believe theres a huge change from tomorrow from the epa rolling back climate rules without the benefit of congressional interference. Ive got to run, but were going to open up down sharply. 160, 171 points, this is about the debacle of friday and doubts about tax reform Going Forward. Back in a moment. Yes . Please repeat the objective. Thrivent mutual funds. Managed by humans, not robots. Before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds. Com. Im sure that there are an awful lot of people tuning in right now to see how the stock market fairs on this early monday morning after that debacle about the reform of obamacare last friday, and a debacle it was. The bill was pulled. Republicans went to a defeat. That means maybe a slowdown in the entire legislative agenda, the slowdown in the growth ga agenda and the market does not like that. Well open up, and youll see at least 100 point decline for the dow industrials, probably more than 150, on the down side. Well be approximately 600 points away from the high that we reached right after the election. We are going to see this trump rally at least pause and maybe going into reverse, thats at least in the early going this morning. 10 seconds to go, im predicting 150 down for the dow industrials in the very, very early going. Almost there. Bang 9 30 on a monday morning, were running down. The first quote down 130, down 140. Liz there you go. Stuart down 149. Were at 20,400. Lefthand side of your screen, those are the dow 30 stocks, 28 of them are down, two of them are now unchanged. Now were down 173 points. Thats down 169. Okay. First half minutes worth of business on the monday morning after the debacle on friday, were down 100 almost, were close to 1 down. Thats not a gigantic selloff, frankly, im a little surprised, i thought it might be more than that, given what h