Transcripts For FOXNEWSW Your World With Neil Cavuto 2017051

You see this is imperilled and can be pushed back and that means pushed back off the table altogether, not surprisingly you get markets worried. Ben bernanke, the former chairman of the federal row serve said we cant take this stuff lightly. Could be a factor and could be a drag. It was today. A significant drag. Well spell it out for you. Some pockets of strength here. Not so much the stock market but the bond market. The dollar side slips away. This comes back to the notion that are we going to see any of the stuff investors have been wanting to see in the same thing that avoided the markets and sent them up double digits since donald trump was first selected in Charlie Gasparino at the same conference and others what are you hearing, bud . Neil, the mood here is anxiety. Top traders and investors here from around the country. They have their fingers on the button, whats doing on in washington. What is happening with fiscal policy is basically the number 1 tradeable item right now. Thats not monetary policy. Its not the fed. Its what will trump do in the Trump Administration and the Republican Congress do with tax cuts and Regulatory Reform and the problem is that when you have an administration that seems to be in crisis mode all the time sometimes theyre a little crisis like president obama is bugging my phone and sometimes stuff like that and then theres big crises and james comey and the alleged memo after he met with donald trump regarding general flynn. Neil right, right. Those are big things. What the markets are saying, those big things are increasingly worrisome. Heres the thing, neil, i dont want to say this, but you know, i know im going to get hell on social media for saying this, you just have to factor in the youre a investor. Theres more than a theoretical possibility that donald trump could get impeached. It is. Its not zero. Its not 100. Its somewhere between zero and 100. Neil right now it comes down to the memo. Right now, just the prospect of a summer of hearings and so on. I want to show you this. This shows even in an environment in doubt, the last time we had going into a summer where we had a president under duress and hearings started and talking about Richard Nixon in the summer of 1973 and the great watergate hearings, it was a drip, drip, drop, drop and culminating a year later in the resignation of Richard Nixon. Im not comparing that, not saying we have a leap there. Theres a world of difference what we discovered would be watergate and what is going on here. Owing nothing to that magnitude. But that i think is what a lot of market analysts were telling me on fox bus that they fear. The fact that this gets to be a distraction, gets a distraction on the things they do want to see. Right. If you look at stuff like look at the clinton scandals. Bill clinton had the dotcom boom going while those scandals were going on, which softened the blow to him in many respects. Richard nixon at that time was dealing with stackflation. Shepard makes a big difference. We dont know. Listen, all eyes are on the fed in june. What do they say about the economy . Is there a pickup in the economy . Do they not raise rates . If they dont raise rates because theyre worried about the future, what steam does that take out of the rally . Heres the other underlying fear. They look at nixon and watergate. They say nixon was a smart guy. Extremely strategic. What theyre seeing now in President Trump is sort of selfinflicted wounds. That erodes the confidence that they have in his administration to get stuff done. That is not a good thing. If you lose that confidence, people are thinking, your fiscal policy reforms are gone and neil and they had a warring relationship with the media. Charlie, thank you. Charlie gasparino. Again, all financials were down today. They were the biggest part of this falloff here. A lot of it has to do with the fact that something had been baked in the cake and dissuaded investors even when other things hit the fan. The prospect that donald trump and republicans will have trouble getting their agenda done. Forget about in year. Maybe if its pushed to the next year at all. Gerri willis taking the pulse of all of that in new york. Thats right, neil. Thats right. You look at the dow and the drags on the dow here. Tells story that youve been telling since the beginning of the show. Yes, people are worried about the trump agenda, financial stacks getting hit hard here. Goldman sachs representing 79 points that the dow lost. The stocks down 5. 4 . Jp morgan down 4 . Big moves for these stocks. Investors worried that the agenda wont come through, we wont get tax reform, Regulatory Reform. Apple down. 3. 4 . Big moves for stocks that normally wouldnt see this kind of action. Dupont down 3. 2 . American express down 2. 3. Boeing down 2. 1. What is interesting about this selloff, started very orderly. No panic selling. Volume turned out to be lighter than usual. At 2 48 in the afternoon, 354 pounds lost on the dow. The fear index now for stocks at a fourweek high after achieving a low of a tenyear low last week. Ten year treasury yields as people are flocking for security and safety and moved into gold, which is up 2,250 as people opt into the safety measures. We went on the streets to see what people say about the sell off. Are they worried . This is what they told us. I think people are concerned about the presidency and a lot of optimism after he got elected. Weve had a 20 purse run up in the last year. This is like a 1 pull back . Its absolutely nothing at all. When the markets started going up, i said this is good news. And now you wonder when is the bottom going to come. This could be it. The biggest thing that worried me is the unknown, the uncertainty of future state of the markets. So neil, as you can see, people concerned about washington, the presidency, what will happen next. They dont like seeing this action in stocks. I really think theyre more worried about d. C. Neil thanks, gerri willis. One day does not a trend make but the white house is monitoring this closely. Blake burman is there. What can you tell us . Pretty interesting comments from President Trump on this day as he spoke to the graduates at the coast guard academy. He said that more is to come. Despite this constant drip of negative head lines, the president sounded optimistic as it relates to tax reform and healthcare. Were going to give you the largest tax cut in the history of our country if we get at this time way we want it. Were going to give you major tax reform. Were also getting closer and closer day by day to great healthcare for our citizens. One thing to say at the white house, theres plenty of skepticism down the street. Mitch mcconnell said he wished there wasnt so much drama coming from the would not house. Jim himes painted a bleak picture. One thing is for certain, the president and the republicans legislative agenda is lying in ruins on the floor of this building. Lies in ruins congress to that democratic congressman. What we can tell you on the way Going Forward as relates to tax reform, gary cohn said were on capitol hill meeting with the Senate Financial commit tip and fox business said the meeting included republicans and democrats. Neil . Neil so maybe some promising developments. Blake mentioned mitch mcconnell, the Senate Majority leader there. He might have contributed unwittingly to the selloff when he said last night remarks that would have been ignored. In this whole tax cut battle, he would prefer the tax cuts approved by revenue neutral. They dont make the deficits worse. That flies in the face of many republicans who have been advocating big tax cuts to prime the pump where you might have deficits in the beginning and see the revenue come later on. The leader of the senate is saying, no, no, no. Not going to pass muster with me. A lot of folks said that is the sign that business tax cuts, the kind that could substantively and substantially move these markets might not materialize. All right. What if regardless how you look them, theyre delayed . Maybe derailed . Lets go to democratic strategists. Gary, on you on this idea of tax cuts delayed and if we do see them, theyre not going to be as big as maybe guys like you had thought what do you think . Well, simply put, i think the market and the economy have made big bets and Business People have made big bets on these things getting done. When you have all of these other things bubbling to the top, no longer whispers about impeach meant and ends of the worldtype scenarios, you see what happens in the market and you see a. 7 gdp. Should be worried. Theres too much noise, too many Different Things being said. The only thing that gives me conference is mnuchin was on capitol hill talking tax reform with democrats. Maybe that helps. But they need to get things done sooner than later. The intangible world confident is heading south. Neil i heard a number of democrats saying cool it with the impeachment talk. Some clearly salivating at the prospect. But i do wonder what you think. Last time we dealt with Something Like this was bill clinton. I think what saved the day for him was a soaring market and a good economy. That was the wind at his back. He dodge ed a bullet there. Im saying it happened in a market of Rising Oil Prices and a tumbling economy. What is the sense this youre hearing acted what is going on here . Ythere, there are those that are salivating at the idea that we could be heading towards impeachment. Im not sure about that at all. The market could be responding to that kind of talk. I come into the safer camp on this. We shouldnt be talking about that. We should be talking about what is in front of us, to get the information we can from james comey about their conversations and really to just implore the president and his administration to try to get back on track as much as they can to make sure that they can deliver for the American People the tax reform that they promised. I think if you look at the generics, its shifting in the democrats favor 2018. People on both sides are saying could go for us. I dont know about the senate and the house. If donald trump doesnt deliver on his number 1 promise that he would get this economy started, he said oh, 4 growth . No big deal. I can do that. Biggest tax cuts in history if i have it my way. Thats what he said today. Neil we dont know, surprising things can happen. Are investors overly panicked . Looking at apart from where weve been since donald trump was first elected, were up more. Theyre calling into question how doable his agenda is. Are you . I am because every day that goes by that nothing happens is a bad day. Look, lets put it in perspective. Weve had a big runs since the election. We also have to talk about from the perspective of today. Weve had a lot of complacency. How complacent things are and how that gets the onesided trade in the market. So many people were selling at once because everybody was buying at once. When all is said and done, they better come through with the goods or well get to where we were in november. We saw a big run under president obama. He doesnt get much credit these days for that. But donald trump didnt make a market boom and being in office after ten days even though he said it was him. Neil from his election you can im happy to give him some credit. I want obama to get a little love here. Neil thanks, guys. People in bonds are betting that the economy could slow down and no other place to put their money. So the equivalent of putting it underneath your mattress today, people putting it in bonds. What are they afraid of . After this. Does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. Tell your doctor if you are being treated for an infection or have symptoms. Or if you have received a vaccine or plan to. Inflammatory bowel disease can happen with taltz. Including worsening of symptoms. Serious allergic reactions can occur. Nows your chance at completely clear skin. Just ask your doctor about taltz. He has an obligation to carry out our oversight regardless of which party is in the white house. That means before rushing to judgments, we get all the pertinent information. Before we form opinions and advocate for action, we need to know what the facts are. At this point, we need to see the facts laid out. All were dealing on right now is media records. We need facts. Facts. Not speculation. Theres clearly a lot of politics being played. Our job is to get the facts and be sober about doing that. Neil all right. So where is this going . House drama spilling over on capitol hill. You name it. Chris stewart is here. Congressman, good to have you here. Are you worried about that agenda . Well, no, not really. I mean, weve known this would be difficult, opposition. Most of us just keep our heads down and take the next step and work on things we can work on, things we can control. Are things more difficult now . No doubt about it, neil. You can see that. Most of us are doing what we promised to the American People that we do. How much do you blame the style of donald trump for a lot of this . Its hard for me to say how much. What would i say on a percentage or whatever. The reality is this president , i support him and support his policies, and i support his goals. He does make it more difficult. Theres no doubt about it. Theres two things at play here. One is a president that speaks what is on his mind and says things with the heat of the moment. And a press that has lost their minds. Theyre like puppy dogs chasing rabbits. You put the two together, leads to what we see now. Thats a very chaotic and very emotional and frankly over the top rhetoric sometimes. Neil you think the white house needs a senior staff shakeup . Thats been thats out there. Yeah. Are you asking would i support that . Do i think its necessary . Neil yes. I dont know. Very clearly we want things to be more smooth and have a more consistent message and controlled message out of the white house. Once again, i think that this president has faced such fierce opposition in everything he does. Let me tell you an example. Probably one you want to talk about. I like director comey. I have defended him for a couple years now to my republican friends and democrat colleagues that have said a couple years now since the Hillary Clinton email thing. Hey, he should go. He should resign or be fired. And now suddenly those same folks are defending him. I think thats just one example of how the politics of this can turn on a dime. Theres fierce opposition everything this president tries to do. Neil do you think that if fax cuts, the health fix is delayed, stick a fork in both . No, i dont think stick a fork in it but you can get the fork out of the drawer. It will be more difficult if we dont do it this year. Thats one of the reasons we were so adamant and i felt so strongly that you have to do repeal and replace of obamacare. That was the foundation on which all of our legislative calendar rests. A number of reasons for that. Now weve done that, gives us a little confidence, momentum. Tax reform is harder. We know that. I dont think its going to be done by july or august. But i think it has to be done this year. Neil thank you, sir. A crazy time down there. Chris stewart from the house intelligence committee. We have more of the read globally. The president is taking his first foreign trip on friday. How will he be received over there . What are they thinking of him . I didnt really know anything about my family history. Went to ancestry, i put in the names of my grandparents first. I got a leaf right away. A leaf is a hint that is connected to each person in your family tree. I learned that my ten times great grandmother is George Washingtons aunt. Within a few days i went from knowing almost nothing to holy crow, im related to george washington. This is my cousin george. Discover your story. Start searching for free now at ancestry. Com this is bills yard. And bill has a noweeds, not in my yard policy. But with scotts turf builder weed feed, bill has nothing to worry about. It kills weeds and greens grass, guaranteed. This is a scotts yard. And greens grass, guaranteed. Its not just a car, its your daily treat. Go ahead, spoil yourself. The es and es hybrid. Experience amazing. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Fight, fight, fight. Never ever, ever give up. Things will work out just fine. Look at the way ive been treated lately. Especially by the media. No politician in history and i say this with great surety has been treated worse or more unfairly. You cant let them get you down. You cant let critics and the naysayers get in the way of your dreams. Neil all right. The drip drip of all of this is beginning to pile on. A lot of folks are saying, even nothing comes of it, does it take away the trump agenda, hurt his foreign trip . James woolsy is here right now. I was reading a couple of your comments in which you said, were not talking about whether the president has the right here talking at the time about sharing classified information with the russians the question is was it wise. This comes up again and again with this president. Not questioning his business ecumin but hes new to this. The distinct pattern is what is worrying you. Yes, it is. I think the problem also is quick judgments. Sometimes you get lucky and you make a decision fast and its the right decision. But on Charlie Gasparino<\/a> at the same conference and others what are you hearing, bud . Neil, the mood here is anxiety. Top traders and investors here from around the country. They have their fingers on the button, whats doing on in washington. What is happening with fiscal policy is basically the number 1 tradeable item right now. Thats not monetary policy. Its not the fed. Its what will trump do in the Trump Administration<\/a> and the Republican Congress<\/a> do with tax cuts and Regulatory Reform<\/a> and the problem is that when you have an administration that seems to be in crisis mode all the time sometimes theyre a little crisis like president obama is bugging my phone and sometimes stuff like that and then theres big crises and james comey and the alleged memo after he met with donald trump regarding general flynn. Neil right, right. Those are big things. What the markets are saying, those big things are increasingly worrisome. Heres the thing, neil, i dont want to say this, but you know, i know im going to get hell on social media for saying this, you just have to factor in the youre a investor. Theres more than a theoretical possibility that donald trump could get impeached. It is. Its not zero. Its not 100. Its somewhere between zero and 100. Neil right now it comes down to the memo. Right now, just the prospect of a summer of hearings and so on. I want to show you this. This shows even in an environment in doubt, the last time we had going into a summer where we had a president under duress and hearings started and talking about Richard Nixon<\/a> in the summer of 1973 and the great watergate hearings, it was a drip, drip, drop, drop and culminating a year later in the resignation of Richard Nixon<\/a>. Im not comparing that, not saying we have a leap there. Theres a world of difference what we discovered would be watergate and what is going on here. Owing nothing to that magnitude. But that i think is what a lot of market analysts were telling me on fox bus that they fear. The fact that this gets to be a distraction, gets a distraction on the things they do want to see. Right. If you look at stuff like look at the clinton scandals. Bill clinton had the dotcom boom going while those scandals were going on, which softened the blow to him in many respects. Richard nixon at that time was dealing with stackflation. Shepard makes a big difference. We dont know. Listen, all eyes are on the fed in june. What do they say about the economy . Is there a pickup in the economy . Do they not raise rates . If they dont raise rates because theyre worried about the future, what steam does that take out of the rally . Heres the other underlying fear. They look at nixon and watergate. They say nixon was a smart guy. Extremely strategic. What theyre seeing now in President Trump<\/a> is sort of selfinflicted wounds. That erodes the confidence that they have in his administration to get stuff done. That is not a good thing. If you lose that confidence, people are thinking, your fiscal policy reforms are gone and neil and they had a warring relationship with the media. Charlie, thank you. Charlie gasparino. Again, all financials were down today. They were the biggest part of this falloff here. A lot of it has to do with the fact that something had been baked in the cake and dissuaded investors even when other things hit the fan. The prospect that donald trump and republicans will have trouble getting their agenda done. Forget about in year. Maybe if its pushed to the next year at all. Gerri willis taking the pulse of all of that in new york. Thats right, neil. Thats right. You look at the dow and the drags on the dow here. Tells story that youve been telling since the beginning of the show. Yes, people are worried about the trump agenda, financial stacks getting hit hard here. Goldman sachs representing 79 points that the dow lost. The stocks down 5. 4 . Jp morgan down 4 . Big moves for these stocks. Investors worried that the agenda wont come through, we wont get tax reform, Regulatory Reform<\/a>. Apple down. 3. 4 . Big moves for stocks that normally wouldnt see this kind of action. Dupont down 3. 2 . American express down 2. 3. Boeing down 2. 1. What is interesting about this selloff, started very orderly. No panic selling. Volume turned out to be lighter than usual. At 2 48 in the afternoon, 354 pounds lost on the dow. The fear index now for stocks at a fourweek high after achieving a low of a tenyear low last week. Ten year treasury yields as people are flocking for security and safety and moved into gold, which is up 2,250 as people opt into the safety measures. We went on the streets to see what people say about the sell off. Are they worried . This is what they told us. I think people are concerned about the presidency and a lot of optimism after he got elected. Weve had a 20 purse run up in the last year. This is like a 1 pull back . Its absolutely nothing at all. When the markets started going up, i said this is good news. And now you wonder when is the bottom going to come. This could be it. The biggest thing that worried me is the unknown, the uncertainty of future state of the markets. So neil, as you can see, people concerned about washington, the presidency, what will happen next. They dont like seeing this action in stocks. I really think theyre more worried about d. C. Neil thanks, gerri willis. One day does not a trend make but the white house is monitoring this closely. Blake burman is there. What can you tell us . Pretty interesting comments from President Trump<\/a> on this day as he spoke to the graduates at the coast guard academy. He said that more is to come. Despite this constant drip of negative head lines, the president sounded optimistic as it relates to tax reform and healthcare. Were going to give you the largest tax cut in the history of our country if we get at this time way we want it. Were going to give you major tax reform. Were also getting closer and closer day by day to great healthcare for our citizens. One thing to say at the white house, theres plenty of skepticism down the street. Mitch mcconnell said he wished there wasnt so much drama coming from the would not house. Jim himes painted a bleak picture. One thing is for certain, the president and the republicans legislative agenda is lying in ruins on the floor of this building. Lies in ruins congress to that democratic congressman. What we can tell you on the way Going Forward<\/a> as relates to tax reform, gary cohn said were on capitol hill meeting with the Senate Financial<\/a> commit tip and fox business said the meeting included republicans and democrats. Neil . Neil so maybe some promising developments. Blake mentioned mitch mcconnell, the Senate Majority<\/a> leader there. He might have contributed unwittingly to the selloff when he said last night remarks that would have been ignored. In this whole tax cut battle, he would prefer the tax cuts approved by revenue neutral. They dont make the deficits worse. That flies in the face of many republicans who have been advocating big tax cuts to prime the pump where you might have deficits in the beginning and see the revenue come later on. The leader of the senate is saying, no, no, no. Not going to pass muster with me. A lot of folks said that is the sign that business tax cuts, the kind that could substantively and substantially move these markets might not materialize. All right. What if regardless how you look them, theyre delayed . Maybe derailed . Lets go to democratic strategists. Gary, on you on this idea of tax cuts delayed and if we do see them, theyre not going to be as big as maybe guys like you had thought what do you think . Well, simply put, i think the market and the economy have made big bets and Business People<\/a> have made big bets on these things getting done. When you have all of these other things bubbling to the top, no longer whispers about impeach meant and ends of the worldtype scenarios, you see what happens in the market and you see a. 7 gdp. Should be worried. Theres too much noise, too many Different Things<\/a> being said. The only thing that gives me conference is mnuchin was on capitol hill talking tax reform with democrats. Maybe that helps. But they need to get things done sooner than later. The intangible world confident is heading south. Neil i heard a number of democrats saying cool it with the impeachment talk. Some clearly salivating at the prospect. But i do wonder what you think. Last time we dealt with Something Like<\/a> this was bill clinton. I think what saved the day for him was a soaring market and a good economy. That was the wind at his back. He dodge ed a bullet there. Im saying it happened in a market of Rising Oil Prices<\/a> and a tumbling economy. What is the sense this youre hearing acted what is going on here . Ythere, there are those that are salivating at the idea that we could be heading towards impeachment. Im not sure about that at all. The market could be responding to that kind of talk. I come into the safer camp on this. We shouldnt be talking about that. We should be talking about what is in front of us, to get the information we can from james comey about their conversations and really to just implore the president and his administration to try to get back on track as much as they can to make sure that they can deliver for the American People<\/a> the tax reform that they promised. I think if you look at the generics, its shifting in the democrats favor 2018. People on both sides are saying could go for us. I dont know about the senate and the house. If donald trump doesnt deliver on his number 1 promise that he would get this economy started, he said oh, 4 growth . No big deal. I can do that. Biggest tax cuts in history if i have it my way. Thats what he said today. Neil we dont know, surprising things can happen. Are investors overly panicked . Looking at apart from where weve been since donald trump was first elected, were up more. Theyre calling into question how doable his agenda is. Are you . I am because every day that goes by that nothing happens is a bad day. Look, lets put it in perspective. Weve had a big runs since the election. We also have to talk about from the perspective of today. Weve had a lot of complacency. How complacent things are and how that gets the onesided trade in the market. So many people were selling at once because everybody was buying at once. When all is said and done, they better come through with the goods or well get to where we were in november. We saw a big run under president obama. He doesnt get much credit these days for that. But donald trump didnt make a market boom and being in office after ten days even though he said it was him. Neil from his election you can im happy to give him some credit. I want obama to get a little love here. Neil thanks, guys. People in bonds are betting that the economy could slow down and no other place to put their money. So the equivalent of putting it underneath your mattress today, people putting it in bonds. What are they afraid of . After this. Does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. Tell your doctor if you are being treated for an infection or have symptoms. Or if you have received a vaccine or plan to. Inflammatory bowel disease can happen with taltz. Including worsening of symptoms. Serious allergic reactions can occur. Nows your chance at completely clear skin. Just ask your doctor about taltz. He has an obligation to carry out our oversight regardless of which party is in the white house. That means before rushing to judgments, we get all the pertinent information. Before we form opinions and advocate for action, we need to know what the facts are. At this point, we need to see the facts laid out. All were dealing on right now is media records. We need facts. Facts. Not speculation. Theres clearly a lot of politics being played. Our job is to get the facts and be sober about doing that. Neil all right. So where is this going . House drama spilling over on capitol hill. You name it. Chris stewart is here. Congressman, good to have you here. Are you worried about that agenda . Well, no, not really. I mean, weve known this would be difficult, opposition. Most of us just keep our heads down and take the next step and work on things we can work on, things we can control. Are things more difficult now . No doubt about it, neil. You can see that. Most of us are doing what we promised to the American People<\/a> that we do. How much do you blame the style of donald trump for a lot of this . Its hard for me to say how much. What would i say on a percentage or whatever. The reality is this president , i support him and support his policies, and i support his goals. He does make it more difficult. Theres no doubt about it. Theres two things at play here. One is a president that speaks what is on his mind and says things with the heat of the moment. And a press that has lost their minds. Theyre like puppy dogs chasing rabbits. You put the two together, leads to what we see now. Thats a very chaotic and very emotional and frankly over the top rhetoric sometimes. Neil you think the white house needs a senior staff shakeup . Thats been thats out there. Yeah. Are you asking would i support that . Do i think its necessary . Neil yes. I dont know. Very clearly we want things to be more smooth and have a more consistent message and controlled message out of the white house. Once again, i think that this president has faced such fierce opposition in everything he does. Let me tell you an example. Probably one you want to talk about. I like director comey. I have defended him for a couple years now to my republican friends and democrat colleagues that have said a couple years now since the Hillary Clinton<\/a> email thing. Hey, he should go. He should resign or be fired. And now suddenly those same folks are defending him. I think thats just one example of how the politics of this can turn on a dime. Theres fierce opposition everything this president tries to do. Neil do you think that if fax cuts, the health fix is delayed, stick a fork in both . No, i dont think stick a fork in it but you can get the fork out of the drawer. It will be more difficult if we dont do it this year. Thats one of the reasons we were so adamant and i felt so strongly that you have to do repeal and replace of obamacare. That was the foundation on which all of our legislative calendar rests. A number of reasons for that. Now weve done that, gives us a little confidence, momentum. Tax reform is harder. We know that. I dont think its going to be done by july or august. But i think it has to be done this year. Neil thank you, sir. A crazy time down there. Chris stewart from the house intelligence committee. We have more of the read globally. The president is taking his first foreign trip on friday. How will he be received over there . What are they thinking of him . I didnt really know anything about my family history. Went to ancestry, i put in the names of my grandparents first. I got a leaf right away. A leaf is a hint that is connected to each person in your family tree. I learned that my ten times great grandmother is George Washingtons<\/a> aunt. Within a few days i went from knowing almost nothing to holy crow, im related to george washington. This is my cousin george. Discover your story. Start searching for free now at ancestry. Com this is bills yard. And bill has a noweeds, not in my yard policy. But with scotts turf builder weed feed, bill has nothing to worry about. It kills weeds and greens grass, guaranteed. This is a scotts yard. And greens grass, guaranteed. Its not just a car, its your daily treat. Go ahead, spoil yourself. The es and es hybrid. Experience amazing. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management<\/a> firms in the country. Discover how we can help find your unlock. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Fight, fight, fight. Never ever, ever give up. Things will work out just fine. Look at the way ive been treated lately. Especially by the media. No politician in history and i say this with great surety has been treated worse or more unfairly. You cant let them get you down. You cant let critics and the naysayers get in the way of your dreams. Neil all right. The drip drip of all of this is beginning to pile on. A lot of folks are saying, even nothing comes of it, does it take away the trump agenda, hurt his foreign trip . James woolsy is here right now. I was reading a couple of your comments in which you said, were not talking about whether the president has the right here talking at the time about sharing classified information with the russians the question is was it wise. This comes up again and again with this president. Not questioning his business ecumin but hes new to this. The distinct pattern is what is worrying you. Yes, it is. I think the problem also is quick judgments. Sometimes you get lucky and you make a decision fast and its the right decision. But on Something Like<\/a> the problems that he had with keeping muslims out of the country on travel visas and other steps that hes taken very quickly havent worked out right and hes had to restructure them. You can do that some, but it creates a serious problem if it starts to be assumed that your first announcement probably has some problems in it, we better wait and see what happens. That will slow everything down. Neil everything . Well, a lot. Neil so its your sense now when he goes a broad, saudi arabia, israel, you know the drill here. Does he have a weakened hand in talking to his foreign counter parts . Other president s have traveled abroad under great popularity. Ronald reagan under great popularity. Richard nixon went to egypt in the waning weeks of his administration. It can be very therapeutic to them and reinforce their numbers and their attitude. There one could have been i think a repositive trip. Could conceivably still be. By having the material that was released to the russians come as the press said from israel, hes probably going to have some fairly glum and sour looks from the Israeli Government<\/a> officials. They wont be loud or upset with him. They depend on the United States<\/a> a great deal and hes taken very positive steps towards israel and the u. S. Working together, much more so than president obama did. Neil do you get a feeling right now that he can get through this . You know, a lot of leaders there was this one article in the wall street journal that said they wondered the degree of trust that they could have when they speak of him in confidence and whether his conversations now he threw out the possibility there might be recorded. No proof of that. What do you make of it . If so, if he wants to get through this and see things go better, i think hes got to slow down in his Decision Making<\/a>. He wants to make a major change in Immigration Law<\/a> or anything else, he needs to pull together the top three or four or five people and assign it to a cabinet member to brief it, get it around to everybody, let them talk through it. Somebody say you forgot about this, mr. President. That whole Decision Making<\/a> mode with your top people doesnt seem to be what is going on in the white house. Im no expert. Ive never been there in this administration. I dont know what theyre doing. My wife has a good idea. I dont. Neil thanks, jim. Good seeing you. Much more coming up. Meantime, you know, they are still working and they can still walk, talk and chew gum at the same time. Senator john thune is proof of that. Hes going on the tax plan. This portion aimed at helping small businesses. Where is that going . After this. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security<\/a> helps protect business, from the largest Financial Markets<\/a> to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Neil does any anybody want this fbi directorship . John cornyn not interested, maybe Joe Lieberman<\/a> . Yeah. Thats after this. So the incredibly minor accident that i had tonight four weeks without the car. Okay, yup. Good night. With accident forgiveness your rates wont go up just because of an accident. Switching to allstate is worth it. Ayou dont have to choose just one thing. Choose your trio with any 3 of 9 selections for 15. 99. Like new creamy lobster pasta toasted parmesan shrimp and southernstyle crab cakes. Come create your trio before it ends. Neil all right. Markets today in free fall. Largely because they dont really know what to make of this trumpcomey thing and whether it will be an impeachable offense. That is getting crazy. What they worry about is what its going to delay tax cuts. That could be delayed. Not if my next guest has anything to say about it. John thune, has his own plan to help particularly small businesses. Senator, very good to have you. Nice to be with you, neil. Neil before we get to the details of your plan, are you worried, senator, that it aint happening this year, that its getting pushed back, unlikely . I still believe we need to do it this year. I hope we find the votes to do that. The president will have to get very engaged, neil. If this pushes to 2018, its harder. Im confident moving forward that we can deal with tax reform before the end of the year. I certainly think in terms of the economy could do a lot to get us out of this 1. 5 growth pattern. Neil were you surprised by Mitch Mcconnells<\/a> interest in keeping whatever you do on taxes revenue neutral . That bothered a lot of conservatives and even the president priming the pump to going into deficits before the tax cuts . What do you think . A lot of our members have different opinions. Senator mcconnell weighed in with his view that this should be revenue neutral. We have a lot of senators that think that in order to grow the economy, we need to get the tax rates down and accelerate costs recovery, which as you mentioned what our bill would do. That will get the growth back in the economy. Meantime, we have to deal with some deficit. Thats theres different points of view in our republican conference on that. Well sort through that and get a pro growth bill and better paying jobs. Neil just getting the corporate rate down to 15 or 20 from the getgo might not be revenue neutral. That too could get complicated, couldnt it . It could. There are some things that can be done to broaden the base that would act as offsets. What about on the business side . What do you want to do there . Theres as you know, theres a significant amount of offshore earnings that could be repatated back in. And theres others in the business space, some deductions that are popular with some constituencies that might be able to be scaled back. Were going to be looking at everything on the able to to start with. Theres some deductions that are very important. Home mortgage interest, charitable giving. Beyond that, theres others that might find some room to help offset the costs. Were going to get additional growth. This is not a static economy. When you change policy, you change behavior out there. People start investing and taking realizations and more taxes. Growth is a big part of how you get there in terms of revenue. You had an intriguing business plan. People say maybe thats something that we have broader agreement on. We have the individual rates and tax cuts for the wealthy. Would you be open as some of your democratic colleagues have said for a Corporate Tax<\/a> cut. Handle that separately. Its really important, neil, that we deal with business tax rates. We have to get the rates down. Were not competitive in the global marketplace. Were driving businesses and jobs overseas. If we want to america an attractive place to do business, we have to get the corporate rate down. We try to make it easier for small, medium size businesses to recover costs. Thats the second thing that we think we can do that will fuel economic growth. Those are two changes that have to be made. Beyond that is an open question. Im interested in doing anything that will generate greater growth in the economy. We get bigger jobs and more government revenue. John mccain talked about the comey stuff and has the potential scale of watergate. Do you agree with that . At this point, its pretty hyperbolic. We dont know. What we want to find out right now are the facts. James comey has been invited to capitol hill by the Senate Intelligence<\/a> committee to testify. We need to get the information, follow the facts and not jump to any conclusions. Theres a lot of statements being made out there right now that just are not grounded in fact. We need to get the facts first. Neil Joe Lieberman<\/a>s name has come up for a possible fbi director replacement. What do you think of that . I like Joe Lieberman<\/a>. There was some talk about whether or not there ought to be a politician or former politician in that job. Joe lieberman is a man of great integrity. John what the current thinking at the white house. Some of the names have been bantered about but hopefully we get something that is independent and with integrity. Thats what the president needs. If he can do that, we can get a lot of these issues behind us. Neil senator thune, thanks very much. Joe lieberman will be meeting with the president. Its the sign that the president wants to settle on this soon, maybe before he heads off abroad. After this. Hi, im frank. I take movantik for oic, opioidinduced constipation. Had a bad back injury, my doctor prescribed opioids which helped with the chronic pain, but backed me up bigtime. Tried prunes, laxatives, still constipated. Had to talk to my doctor. She said, how long you been holding this in . laughs that was my movantik moment. My doctor told me that movantik is specifically designed for oic and can help you go more often. Dont take movantik if you have a bowel blockage or a history of them. Movantik may cause serious side effects, including symptoms of opioid withdrawal, severe stomach pain and or diarrhea, and tears in the stomach or intestine. Tell your doctor about any side effects and about medicines you take. Movantik may interact with them causing side effects. Why hold it in . Have your movantik moment. Talk to your doctor about opioidinduced constipation. If you cant afford your medication, astrazeneca may be able to help. Neil do you think there should be a special commission on the independent prosecutor . Its hard to have a credible investigation of somebody high up in the government. So id still like to see a special prosecutor, a special counsel. Neil now Joe Lieberman<\/a> is being considered as a replacement for james comey running the fbi. Kristen fisher with more on that. What else are you later something. Hey, neil. The idea of democrat turned independent Joe Lieberman<\/a> for direct er was brought up with republican senators. According to mike emanuel on capitol hill, most of the senators in the room found it very intrigues. The former senator from connecticut has no Law Enforcement<\/a> background and endorsed Hillary Clinton<\/a> in 2016. So this is a sign that President Trump<\/a> may be willing to think outside the box when it comes to finding james comeys replacement. In addition to lieberman, President Trump<\/a> will meet with three candidates this afternoon. Andrew mccabe, frank keating, the former republican governor of oklahoma and richard mcfeelly, a former fbi official. This new round of interviews come after the two top contenders took their name out of the running. Senator john cornyn and tray gowdy. Both said they need and independent nonpartisan nominee. Theyres congressman draw gowdy last night. The Senate Confirmation<\/a> process would be dreadful and missable. I think the country deserves a woman or man that can take it. Ive been in politics for six years. And alice fisher, the former attorney general has taken her name out of the running. A lot of moving parts here. President trump said he would announce a replacement before the time he leaves on his first foreign trip. The interviews continue with one full day left before the president leaves about a week there. Very important trip there. Thanks, kristen. We told you about stocks plunging and the world going to hell in a hand basket. Now the markets run up stops and reverses itself. Says who . After this. We asked people to write down the things they love to do most on these balloons. Travel with my daughter. Roller derby. Now give up half of em. Do i have to . This is a tough financial choice we could face when we retire. But, if we start saving even just 1 more of our annual income. We could keep doing all the things we love. Prudential. Bring your challenges. Neil all right. We had our own markets tanking today. This is a worldwide phenomenon for the most part. Began in asia with uncertainty on what will happen to President Trump<\/a> and the agenda. This guy is a legend. He doesnt say that, i say that. Joe granna, former big cheese at ubs. Joe, let me ask you about this and whether today was an overreaction. Look, i think this is coming due. Ill put it that way. People are losing confidence in this administration. Markets like confidence and they like predictability. You dont get either one of these things from this administration. They were confident up until today. I understand. But it compounds itself. Neil so you think this will continue . I think i the agenda is in trouble because hes starting to lose some republicans in terms of support. What is going on, best case, its a redefinition of the world naivety. I just spoke with senator thune with his own plan for tax relief. Theyre still going gung ho on this. Are you saying without the president stumbling, none of it will come to fruition . It could be delayed and could be killed before the year is out. He has to pivot and embrace not only democrats but the republicans who are losing patience with them. This idea as lieberman is terrific. A terrific idea for him. Neil what does the president need to do . Just when things are going well, you know, the surprising victory on the healthcare fix, say what you will of it, it was something he needed and got and disrupted by the comey stuff, the russian stuff. The trust factor. How important is that . Youre a good student of political history. How does that work . Prefaced the response by saying i want him to succeed. I would support any president in the seat. In this particular case, he needs an adult in the room. Im not getting neil an adult to listen to . Yeah. No disparaging remark on his chief of staff, but he needs an adult in the room that said look, mr. President , you dont understand the ramifications of what youre saying. When he reacts neil and its what got him elected. That was the popularity, the brand. No question. People wanted change. Neil how he handle s himself right now could go back to his style of leadership. Howard baker saved Ronald Reagan<\/a> when he was fluttering a little bit and instilled discipline and did the job. You think its going to take a figure like that . Ronald reagan did listen to howard baker. The wheels righted themselves. The answer is if you could put a howard baker equivalent in the room, that would be neil but the president has to listen to that person. Thats the question. Hes so thinskinned and so this whole comey thing let it spin out of control. Neil how did you handle it . Im sure people are saying, we dont think this is a good idea. How did you balance what you listened to and who you didnt . Any good ceo shouldnt open right by the 955 rule. 95 of the time i want to hear what you have to say. If its a better id, ill do it. When youre not in the 95, do what i tell you to do. Neil but youre open to question. You have to be. Neil i never let my staff give me any advice. All right, joe. Good seeing you. My pleasure. Neil joe grano. Were seeing frank keeley leaving the white house. Joe lieberman is on the list for the fbi director and a number of republicans including texas senator cornyn and trey gowdy. Well keep you focussed on that after this. Im dr. Kelsey mcneely and some day you might be calling me an energy farmer. Energy lives here. Neil its probably a good time talking about the president , sometimes foreign trips into a world of good. Didnt necessarily help Richard Nixon<\/a> only weeks before he left office, but he felt better before he had to resign. Im not saying what happened then is going to happen now. A president ial historian here, what do you think . This trip could do a lot to raise his stature. Explain what you think is at stake. I think it could do a lot. I can also see it hurting. Depends on how its going to be covered. I can imagine the Mainstream Media<\/a> is going to be focused on every mistake he makes. Every awkward smile, smart, handshake, any protocol thats broken. I think the fact that hes going to israel is going to be good for him. Its important to republicans. Its really, really important to the israelis, and hes going to get a warm welcome there which i think is going to go a long way to energize the president and his base. Excited to see how it plays out. I think saudi arabia is going to be tough. I think every eye is going to be on him and hes going to be scrutinized. Its a different age than it was when Ronald Reagan<\/a> went over ended his trip. Neil normally your stature builds. Back home, you are popular. Helped john kennedy to be in germany. I am wondering with this president , and you are right to point out, i dont care where you stand on liking trump or not but the media really doesnt cut him any slack. He is doing some good. The markets have been on a tear. Hes had good initiatives that have wild the corporate world. You would think it would boomerang here and people might feel sorry for the overkill. I i dont think anybody is feeling sorry for the overkill. I think the left is celebrating in every moment. They are calling for impeachment. They are delighted to see because we do that alone says a lot. I think its going to backfire on the democrats because i think people are tired of fingerpointing, the anger, the vitriol. Neil did he ask for that by getting in their face . This is payback time. It shouldnt be, but what do you think . Two wrongs dont make a righ right. When the republicans are saying there is a reason why donald trump was the nominee on the republican side party was nonestablishment because people didnt like the fact there was so much blockading happen. Not going to work for the democrats, didnt work for the republicans. Neil thank you. I appreciate it. Chair of the house ways and means still going full throttle with taxes. See you tomorrow. Eric hello, everyone. I am eric bolling along with eboni k. Williams and kat timpf. We are the fox news specialists. The campaign to sabotage President Trump<\/a> reaching a disgraceful new level. The leak about the socalled comey memo saying President Trump<\/a> asked james comey to end the investigation into Michael Flynn<\/a> should be a wakeup call into how far these leakers will go. No one in the media has seen the memo to verify its contents, and that is just what the leakers want. 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