good afternoon, everyone welcome to "power lunch. long with kelly evans, i'm tyler malts mathisen and the 2,000 stimulus checks has hit a major speed bump it's an individual senator details on that. and shares of tesla at an all-time high. is there anything, anything that can stop the rally and don't look now but bitcoin surging as high as $42,000

today. and we're being told the higher it goes, the safer it is to own. "power lunch" starts now let's get to dominic chu for a quick look at what's moving. >> the overall markets are moving to the down side, losing steam. democratic senator from west virginia, joe manchestion making comment opposing $2,000 stimulus checks at the highs of the session the dow was up roughly 99 points at the lows just within the last how hour, we were down roughly 240 points, just to give you the idea of the range. look at materials and financials these two sectors are leading

the declines in the s&p 500. meanwhile, consumer discretionary and the real estate sector are showing signs of life. those are your movers, up and down, for the overall markets and one place to keep that close eye on in terms. stock market overall is what's happening right now with shares of tesla and one of the other moves out there that we're seeing we seeing movement with tesla, up about 6.5%, off its session highs but currently, tyler, it is the fifth biggest stock in the s&p 500. it is bigger than facebook it can only now look ahead to what's happening with apple, microsoft, amazon and some other stocks >> dom, we're going to interrupt. we're going to go to the president-elect right now who will make comments and introduce his economic team. >> -- who has died in the line of duty. our sympathy and our concerns go out to his family and the people responsible should be held accountable.

and they will be but today, today i'm pleased to announce the latest members of our economic team. with their announcement, i'm proud to announce we have finished naming our cabinet, saving the best for last here. 24 outstanding women and men who will get our country moving again and who are going to restore trust in our government again and who -- all of whom are ready on day one to do their job. this is a cabinet that i promised you and i've fulfilled that promise it looks like america. it taps into the full range of talent we have in our nation we have immense talent it's an historic cabinet this will be the first cabinet ever that is evenly composed of as many women as men in the cabinet. this will be the first cabinet ever with the majority of people of color occupying this cabinet.

and it has more than a dozen history-making appointments, including the first woman secretary of treasury, first african-american defense secretary, the first openly gay cabinet member and the first native american cabinet secretary. we're also on track, we named a record 50 high-level uponmen appointments subject to presidential confirmation, more than any president ever elected has done we've done our job we've begun my job of naming these people and it's my expectation and hope the senate will now move to confirm these nomine nominees promptly and fairly especially for secretary of state, treasury and homeland security given what our country has been through the last four years, the last few days, given the threats and risks in this world, they should be confirmed as close to

january 20th as possible there should be no vacancies at state, treasury, defense and homeland security, and we will remain in this dark winter of pandemic and with the economic crisis that's deepening and we have no time to lose with regard to the entire team consider the december jobs report released today. the anxiety and fear of the women and men out there. reminds me of when president obama and i were sworn in during the great recession of 2009. this december jobs report shows millions of americans are still hurting through no fault of their own. we lost another 140,000 jobs the first negative jobs report since the height of the pandemic in the spring. more people, more people have just lost a job while many have been out of work for a long

time and the ongoing gap between black and latino unemployment remains much too large, that gap. in many ways the jobs report is a pandemic report. with the pandemic raging, people are losing work and losing hope. the hospital industry, restaurants, bars lost more than 372,000 jobs state and local governments are slashing jobs. 20,000 local educators lost their jobs just last month in the midst of this pandemic, there are millions of people out of work, unable to pay their rent or their mortgage they're waiting in line for hours to get food from a food bank think of this. the united states of america, people are lined up for miles in their automobiles waiting to get

a meal to put on the table to feed their family. and they're left staring at the ceiling, so many, unable to sleep, worried will they have their health insurance, wondering if they'll be okay the bottom line is the jobs report shows we need to provide more immediate relief for working families and businesses now, now not just to help them get to the other side of this painful crisis but a larger purpose, to avoid a broader economic cost that exists out there, that will happen due to long-term unemployment, hunger, homelessness and business failings, but by acting, the vast majority of leading economists suggest that that's what we need to do to revive the economy. in fact, economic research confirms that with conditions like the crisis today, especially with such low interest rates, taking immediate action, it's going to help the

economy, long term and short term reduce scarring in the workforce, increase growth and reduce our national debt burden. failure to act will have the opposite effect. i've said before the bipartisan covid relief package passed in december was a very important step but just a down payment next week, i'll be here with you all laying out the groundwork for the next kocovid economic relief package for example, vaccines give us hope but the rollout has been a travesty this will be the greatest operational challenge, the greatest operational challenge we will ever face as a nation. we're going to need billions of dollars to get the vaccines from a vile into someone's arm, a vaccine for millions of americans. we're also going to need tens of

millions of dollars to help reopen our schools and reopen them safely. state, local, tribal communities need tens of billions of dollars to keep educators, police officers, firefighters and other first responders and public health workers on the job. we need more direct relief flowing to families, small businesses, including finishing the job of getting people that $2,000 in relief, direct payment. 600 is simply not enough when you have to choose between paying rent, putting food on the table, keeping the lights on i also hope that democratic control of the house and senate will raise the odds of prompt action on increasing the minimum wage i've long said that we need to reward work, not just wealth in this country people in both parties now recognize it's time to raise the minimum wage so hard-working

peeling ea people earn at least $15 an hour minimum money nobody should work 40 hours a week at a job and still live below the poverty line they're entitled to at least a $15 minimum wage per hour. folks, big focus will also be on small businesses and how to correct the current administration's failure to get relief to main street's small businesses that are most in need mom and pop stores are the back bone of the economy. and they're also, as you all know, they're the glue that holds communities together it holds them together but today more than one in four small businesses are not open. at least 400,000 are closed for good a a as a month goes buy a third of black owned businesses and a fifth of latino businesses and a

quarter of nate uf americive amn businesses have less than a month of reserve in expenses previous rounds helped millions of small businesses stay afloat and keep employees on the payroll, but there are clear problems black and brown owned small businesses had less access to that relief. mom and pop shops were often the last in line while big, well-connected businesses jumped in front the line and got more relief and got it faster and at every turn this administration, the trump administration, has undermined accountability for every tax dollar spent weakening oversight, firing inspector generals so it's no surprise an independent watch dog found that tens of thousands of ineligible companies received relief they should not have, including from fraud and abuse, siphoning off support from the very small

businesses that need it so badly. but the good news is that the relief package passed last month provides additional aid to small businesses and workers but as i said from the beginning, the need to make sure that relief and future relief reaches everyone who needs it, we need to do more these relief dollars will start to flow quickly, potentially while the current administration is still in office and they may send out money that they won't have any control over but for what we have to control, need control over, i want to be very clear what my privates are. for distributing this emergency aid swiftly and equitably. our focus will be on small businesses on main street that aren't wealthy and well connected, that are facing real economic hardships through no fault of their own our priority will be black,

latino, asian and native american-owned businesses, women-owned businesses, that will finally have access to resources to rebuild we're going to make a concerted effort to help misses in low income communities, curural communities that have faced systemic barriers to relief. think of the mom and pop owner who can't pick up the phone and call a banker, who doesn't have a lawyer, an accountant, to help them through this complicated process, to know if they're even qualified or who simply didn't know where this relief is available in the first place we went through this when we brought detroit back off its knees. and as we saw in this morning's job report, restaurants, bars and hospitality industry has been slammed by this virus we're going to direct relief to those businesses and others that have been so badly hit, hit the

hardest. we owe them that support to help them get through the other side of this crisis and i promise you, we will investigate and prosecute waste and fraud in these programs so the money goes to the companies that deserve it, and we'll use it to help their employees and their communities. when the president, when my president, president obama, asked me to handle, implement the recovery act, along with don, helped me a great deal, we invested more than $800 billion in our economy to help recover and rebuild and less than two-thirds of 1% of waste, fraud and abused occurred. we know how to do this from day one this administration will work to ensure that small businesses and financial institutions in every community understand the rules for these programs, the resources available to them, where they

can turn for technical assistance if this need it we will have navigaand a halnaop guide them through the steps they need until the money is in their bank account and lengthers you should move quickly and not to delay to extend the relief. i urge you not to abuse these funds -- excuse me, disburse these funds in the same unequitable way you did in the past the bottom line is we're in the midst of the most unequal economic and jobs crisis in modern history

congress needs to act as quickly as possible on all the issues i just laid out. that's how we can contain the pandemic, build back better with an economy that works for all americans. and this is a team that's going to help get that done. for secretary of commerce, i nominate governor gina romundo of rhode island, the daughter of a, woulding cla working class fw what it was like when her families's jobs were shipped overseas she always remember where she came from. she became a successful entrepreneur who created jobs on main street and brought businesses back from the edge. she became a state treasure who invested in local communities and took on financial predators. and today she's one of the most effective, forward thinking governors in the united states of america, the first ever to lead the ocean state she created an innovative loan

program that helped minority-owned and women-owned businesses access the capital they need but wasn't always available to them. she's worked with employers to design skill training programs so local workers would be equipped to take the good paying jobs in their own communities. she's put rhode island on the path to achieving 100% renewable energy and she'll be a key player in helping position the united states as a global leader in the 21st century clean energy economy. and she knows what her fellow governors, democrats and republicans alike are dealing like on the pandemic economic crisis they're facing add how we can partner together to contain covid-19 to build back better. i'm honored you're willing to join the administration and looking forward to working with you. for secretary of labor, i nominate a good friend and

stand-up guy, marty walsh of boston, son of irish immigrants. his only down side, they're not from mayo, from galway, and move to boston. marty was born and raised and moved to drc dorchester i know him tough as nail. as age 21 elected to the state legislator became union president and graduated from college at age 42 he's in his second successful term who always puts working people first, paid family lead, providing front line workers were emergency child care and protective equipment they need marty understands like i did that the middle class built this

country and unions built the middle class he sees how union workers have been holding this country together during this crisis, health care workers keeping our hospitals safe, clean and effectiveand efficient, i might add. public service work esers fightg against budget shortfalls. folks keeping our air and israel services running they're literally what's keeping us go going. they deserve a secretary of labor who knows how to build their power as workers, who knows that when i say our future will be made in america, it will be a future built by american workers. a future with historic investments in infrastructure, clean energy, manufacturing and so much more that's going to create millions of good paying jobs marty knows worker power means not just protecting the right to unionize but encouraging

unionization and collective bargaining the fair labor standards act way back didn't just say you can have unions. it said the government should encourage the formation of unions it also means protecting pensions, ensuring worker safety, increasing the minimum wage ensuring workers are paid for the overtime they've earned, like we fought for in the obama/biden administration, that this administration has weakened making sure that we have a trade policy where for every decision we make, unions are at the table, focused on winning good jobs for american workers. this is one of the most important departments to me. i trust mayor walsh and i'm honored he accepted. but i also want to say i did give serious consideration on nominating my friend bernie sanders to this position i'm confident he could have done a fantastic job.

i can think of no more passionate, devoted ally to working people in this country but after tuesday's results in georgia giving democratic control to the united states senate and a tie vote, bernie and i agreed -- as a matter of fact, bernie said we can't put control of the senate at risk on the outcome of a special election in vermont. and he agreed we couldn't take that chance. we also discussed how we'd work together, travel the country together, helping marty, meeting with working men and women who feel forgotten and left behind in this economy. we agreed that we'll work closely on our shared agenda of increasing worker power and to protect the dignity of work for all working people i want to thank bernie for husband continued friendship and leadership i look forward to us working together along with marty. he thinks i made a good choice for administrator of the small business administration, i

nominate isabelle guzman isabelle grew up in california, working alongside her dad in a small veterinary business that he built she devoted an early understanding and developed an early understanding of what small business means to their employees and to the neighborhood they support and to the families whose dreams they represent. she dedicated her career to kreeikre creating jobs, supporting entrepreneurs. as a senior official on the obama/biden small business association. as a small business advocate, she worked tiretirelessly to en everyone with an entrepreneurial spa spark had a fair opportunity to get off the ground and succeeding they will lock in on helping businesses recover and remain the engines of our economic strength as head of the sba, isabelle will be leading a critical

mission, not only to rescue small businesses in crisis but to provide the capital to entrepreneurs across the country so they can innovate, create jobs and help lead us into recovery i'm grateful that she accepted the call to serve in washington. for deputy commerce secretary i nominate, and i have to admit to you a good, loyal, great friend don graves don is a long time and trusted adviser. he was there at the treasury department during the depths of the great recession helping small businesses weather the storm and stay afloat. when president obama asked me to lead the effort to get detroit out of bankruptcy and off its back and on its feet again, he said i could take anyone in the administration on my team to do it full time so i went to the treasury department i tasked don to come over and work for me and work on it full time it was the best decision i ever

made in that effort. i'm not sure how he thinks about that but i think it was the best decision i ever made and he did a great job working with the city officials, state officials on its road to recovery. and, by the way, it's the little things, it's getting to know what's happening on the ground remember how we went through the issue about the number of buses and lights and streetlights and the like it gets down to the nitty-gritty of what has to be done we found out detroit had a lot of qualified people but during the great recession, almost everyone who knew how to program anything left. and we found out there wasn't anybody left to know how to turn on the streetlights, literally, run the sewer department so we went out and got an outfit to come in and we said find us some high tech people. they came back with 53, 55 people they all happened to be women. most were minority none had more than a high school

degree and a quarter of them only had a ged and i remember even our very liberal friends we told them we were do this they said, ah being you're not going to be able to do this. guess what in a 14-week program, they were taught how to program. they were taught how to do it all. they ended up putting the city back on its feet every one of them left after that time because we went to the graduation, the lowest starting salary of my recollection was 49,000, the highest $104,000 the point is give people a chance americans can do anything given a shot he also helped me lead our national strategy to quip workers with the skills they need in health care, i.t., clean energy, manufacturing and so much more and helped me launch

national cancer program to help end cancer a cancer survivor himself, diagnosed and treated while he was working on this for me don knows about hope and he knows about resilience and i'm grateful to him and to his wonderful family once again answering the call to serve. i want to thank you all, thank your families and i don't want to embarrass them but there's one guy up in gallery here, tommy, who is my buddy, who is the son of the governor. thanks, tommy for supporting mom doing this to american people, i know these times are tough but i want you to know we're going to get through this help is on the way these people know what they're about. they know what it's like may god bless you all and may god protect our troops now, what i'd like to do is turn this over to the team starting with our next secretary of labor, marty walsh and after all is said and done

i'll come back and answer questions. >> that's the president-elect joe biden introducing the rest of his cabinet and making a couple of comments policy-wise that might be moving the markets. the dow is on down a hundred points right now the president-elect saying he is going to lay out the groundwork for his economics package last week he says we need more immediate relief right now that's especially interesting because of the comments of democratic representative joe mancion that sent stocks to their lows let's bring in kayla tausche with context and reaction. >> reporter: we reached out to the office of senator mancion and they clarified he's undecided on future proposals

and is not opposed to $2,000 checks in theory he said the incoming administration will craft its proposals as it sees fit and he'll evaluate those when the administration sends them to the hill spokesperson sam runyan says when the time comes on manchin will evaluate those proposals and the focus must be on those who are unemployed through no fault of their own. manchin is an elected democrat number two, he represents an extremely deep red state but, number three, west virginia has one of the highest poverty rates in the country and so with a higher unemployment rate than average and being extremely hard hit by the pandemic, you could imagine that constituents there

albeit conservative consistetits might not be happy when they unveil the project and digest the details. kelly? >> kayla, on that note it's interesting also to look at these remarks from art cashin. he was saying a lot of people were attributing that market pullback to comments by senator manchin but he said the primary cause is the reintroduction of impeachment and just this back and forth over this open-ended question about what happens in the next couple of days amid this transition to power i don't know if we've heard anything as well on that front you can see the market off the lows, maybe reassured with joe biden laying out his next economic package next week anyhow >> reporter: and how democrats could begin the process of impeachment as soon as monday. earlier today democrats joined on a call to discuss next steps, but there seems to be not a

uniform view on how to move forward. and speaker pelosi is going to be speaking to the president-elect this afternoon and we'll see whether they decide to move forward with this it is a rather lengthy and cumbersome process they've been through it one time before and because of that, senator manchin actually said earlier today, he told the associated press that he did not believe there would be enough support among his republican colleagues for impeachment to succeed this time around where it failed this time last year so certainly we will see where it goes from here, whether in fact democrats decide to move forward with that and how lawmakers decide they'll vote on it this time around. kelly? >> and markets further off the lows on your reporting there the s&p has now turned positive and the dow lagging only by about 70 points right now. over to you, ty. >> thank you very much, kelly. so what happens to the market and the economy if the stimulus

tap is turned off under president-elect biden's administration, even with a democrat-controlled congress samantha, welcome. it's always good to see you. let me get your reaction to how dependent this market is on there being another round of stimulus and cash money deposited into the accounts and pockets of american citizens >> tyler, it's absolutely a factor undoubtedly support for the consumer is something we're always keeping our eye on but i will just say there are other positives that are obviously supporting the market. the big obvious one is the fed we know the fed is not raising interest rates likely until the end of 2023. that provides some buffer. i would also mention corporate resilience on the earnings front. that's fundamentals. we would have expected corporate profits to be lower but that's not the case

we think we're going to hit all time highs in corporate profits this year. so i do think there's other positives. but you're right, if we don't get stimulus for the consumer that will lead to bumps and volatility for the market. >> ron, good afternoon let's get your reaction to that. how dependent or vulnerable is this market to the lack possibly of a stimulus agreement? we were talking the other day. when you've got a 50/50 senate with one tie dbreak, it puts amazing power in the hands of individual senators. >> indeed it does, ty. looking at the comments that senator manchin made to the "washington post" prior to the clarifications by his press secretary to kayla, he was talking about vaccine nations are the number one job

we all know that but we don't know what the time frame is for completely inoculating the country. both the market and the economy are utterly dependent on stimulus with west virginia being unof the most impoverished states in the country, i don't see necessarily how joe manchin can turn his back on this. he says they're going to evaluate it. with the budget reconciliation process that can be used twice this year by the democrats in the senate, they only need that 51-50 majority to get things through. let's say mitt romney, just for example, with no knowledge on my part who mighting willing to cross the aisle and help if it comes to the point where they need to deliver this money to people who need it most. and as the president-elect said, the employment data tell us there are a lot of people who need more money to get to the point where we've achieved the type of immunity that will allow the economy to return to some

semblance of normality >> i would point out when you have this kind of narrow margin in the senate, what can get put into the sausage as it gets made can really sweeten things for individual members and maybe tilt them in the way and joe biden knows how the senate works. let me get to samantha, who will raise the point of some of this year's gains being pulled into 2020 but before i do that, i want to talk about the level of speculation in the market. we stocks going up up, up and up on the day that the capital was invaded. we see bitcoin going up and up and up, we see spacs, we see ipos what does that signal to you >> you and i have talked about this for months with some degree of success in the summer and early fall and then less success with respect to what we expect to be the down side risk in this

market over the last couple of months i think there are ebut certainl when you look at something like bitcoin and the parabolic move that it's had -- and listen, i know i was wrong about bitcoin it's gone up 832,000 time its initial price and made billionaires out of some people and made some of us look quite silly. i think that's still a speculative episode. i think spacs will face trouble and the 17 million individual traders who have taken to day and opgs trading are going to have a rough day somewhere down the road i think there's a lot of spe speck -- timing it is the most difficult part of this it didn't reach its price peak until two years later. >> samantha, let me turn to you and get your reaction about

ron's concerns about speculation in the market. another word for that i guess is froth. but i was really struck by your observation that maybe some of this year's gains were pulled into last year explain what the consequence of that could be. >> that's exactly right. so it's always a balance we love risk assets, that being said, there's a lot of exub rens so through last year we made 20 all-time new highs in global equityies. this wasn't just the i could go on and on and that didn't feel congrunt with the environment yes, we know that we hit a bottom with the recession. now obviously we're seeing pandemic-related weakness in the jobs data. it will like live flow into the gdp data as well

i think it feels a little interelectionual will and recovery coming out of the pandemic gains we do think we need to be a lot more cautious and a lot more selective in how we inrest this year >> samantha, thank you so much have a great weekend and the same, rtyler, thank you so much. >> how is the rest of the world usacting pl we'll talk to billionaire rick caruso. more power lunch right after this quick break

welcome back growing calls today in washington for president donald trump's removal from office. and business leaders from apple's ceo tim cook and jamie diamond have spoken out to criticize the events yesterday billionaire nelson peltz with a powerful interview. >> what happened yesterday as an american, i'm embarrassed.

i didn't vote for trump in '16 i voted for him in this past election, november today i'm sorry i did that i supported many of his policies, which i still think were good ones, trade efforts, economic policies. i think they're good for our country, but so much good was undone yesterday with what we all saw. >> joining us now with his reaction to the d.c. riots is billionaire businessman and philanthropist rick caruso it's good to have you back what are your thoughts on the matter >> thanks for having me back i've got a few thoughts. thank you for allowing me to share the thoughts listen, what happened yesterday was despicable i condemn it at every level. there's no excuse for it the behavior of those out thereinthere on the streets and climbing up the capitol was unamerican behavior and the leaders

endorsing it before, after and during, again unamerican and wrong. but i do want to share a point of view that may be a little bit different on this. i was watching, horrified like everybody else in this country and around the world what was happening, but an equal emotion that i had that really became the emotion that overcame me was this inkrcredible confidence in our democracy, incredible confidence in our constitution and incredible confidence in the goodness of the american people. there wasn't a minute in my mind that i ever felt democracy was threatened so i think to say our democracy, some people have said, and that's fine but in my humble opinion to say our democracy was threatened gives too much creedecree credence out there doing the wrong thing. to say there's a stain on this

country, i don't think so. i think there's a stain on the leadership that endorsed it, incited it, approved it, con don do - condoned it. this country, this democracy is so strong and so good that it was never at risk. and i tell you, i had dinner with the family afterwards we were watching as the electoral votes were being walked down the aisle of the chamber, and there's the vice president and the speaker of the house and with great dignity, great honor, great professionalism, they carried out the constitutional mandate to count those votes, in spite of what happened hours earlier that is our democracy. that is our country. we are the envy of the world we're very transparent so we share all of our warts and

that's fine. that's the strength of a democracy to do that but i think in just watching president-elect biden on your show, i think he's got an opportunity now to heal this nation in a way that no other president has been given an opportunity to heal and i think he can and i hope the leadership around him follows the same tone of unity. we got so many important things to do. get the vaccine out, get small businesses, families are hurting and hungry, we got homelessness. let's get back to work that's the america i know, the america that works to the and solves problems and never loses the pride in this country. >> rick, you alluded to it but what is the opportunity for the president-elect and what is the risk here, maybe not for him so much but for other supporters? it's a point that nelson peltz made in passing, there were

people voting maybe for policy than for the president himself what is the right tone for the new president, for biden, for everybody else that suggests everything that you're saying, kind of brings out the best of us, brings people together and kind of avoids the sense of retribution, if you want to call it that. >> yeah, and i watched nelson's -- i don't know him i'd like to get to know him after i watched his interview yesterday. i think he's exceptional he here's the mamerica i think has done great things. we will put aside differences, we'll have great debates but once a decision is made, everybody works together to go down the same path the blame game is over, pointing of the fingers has to be over. president-elect biden has the opportunity to be all inclusive, including the 70 million people that voted for trump it really doesn't matter because as he said, and i believe that

he feels this way in his heart, he is the president for every american nancy pelosi is the speaker of the house for every american and here's what i think is so important. we have to get back to the notion that when you're in elected office, you're in service for others what we saw the other day was a president that was in service for himself. that can never be tolerated. and we need to hold all elected officials, local, state and federal, to the standard of do what's right for the people you serve and put political differences aside. and i think that should be his tone i hope it will and i believe he really wants to do the right thing. and hopefully the leadership around him will support him in that cause >> well put. rick, thank you for joining us to add to the thoughts we've heard from people this week for some much-needed perspective

>> tyler >> and thank you, rick, very much one of the things that is a joy to many of us who work at cnbc is when we talk to business people, they're almost unfailingly optimistic to a person and that's why they're in business because they like the future and they look ahead if you listen to him there, that's what he was doing stock retreating to a possible roadblock to more stimulus we'll see, though. materials and finances, they are your laggards at this hour plus tesla higher for the 11th day in a row what's driving its unstoppable rally? we've got the details right after this quick break so as you, so do its recommendations. so it's like my streaming service. well except now you're binge learning.

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all right. as we keep our eye on the markets as we head into the final hour of trade let's give you the final power movers of the week we start out with a biotech bust, sarepta losing half its value, nearly $7 billion lost. its drug to defend against

muscular dystrophy did not prove significant in a trial wd-40 is benefiting from people being stuck at home. bw-40 gets you unstuck the company is seeing it in all markets across the world just spray some of that, the best product we want to end with a check on gold down more than 3% today. a big move by gold's standards we go back to president-elect biden. >> let me take some of your questions. we will have chances again this week to do it. but let me -- you tell me who. >> mr. president-elect, while we have been here, as you have been announcing your economic team, we've learned that house democrats are currently planning

to introduce articles of impeachment against president trump as soon as monday. at that point, it will be just a little over a week before the president leaves office. do you believe this is a good idea >> look, i -- i've thought for a long, long time that president trump wasn't fit to hold the job. that's why i ran and my job now in 12 days, god willing, i will be president of the united states of america and i am focused on the urgency of three immediate concerns. one, the virus getting it under control getting the vaccine from a vial into people's arms i think the way it is being done now has been -- been very, very sad. number two, we have had 4,000 deaths -- 4,000 deaths

yesterday. and things continue to rise, escalate that's my number one concern, to get the virus under control. we lost over 125,000 jobs in last month and people are really, really, really in disparate shaesperatee i'm focused on the virus, the vaccine, and economic growth what congress decides to do is for them to decide but i am going to have to -- they are going to have to be ready to hit the ground running because when kamala and i are sworn in we are going to be introducing immediately significant pieces of legislation to deal with the virus, deal with the economy, and deal with economic growth. so we are going to do our job. and the congress can decide how to proceed with theirs. >> but, if a democratic member of congress were to call and ask for your advice whether they should proceed with this, what would you tell them?

>> i would tell them that's a decision for the congress to make i am focused on my job >> did you speak with house speaker nancy pelosi before this decision was made? or is that a conversation that's going to happen? >> i will be speaking with nancy and the democratic leadership this afternoon as a matter of fact, about my agenda, as well as whatever they want to talk to me about. >> thanks. >> thanks, mr. president-elect. >> thank you, ken. >> i wanted to ask you about your agenda in light of the jobs report that came out today you are going to be laying out the principles of your plan. do you think the need for -- in the covid relief bill is greater than you anticipated and what is the price tag that you are looking at i have been told it could be in the two to three trillion dollar range. then as it relates to the direct cash payments, you have talked

about the need for $2,000 checks do you want to see that in a senate sustained-alone bill as a way to speed up the process? or do you think those direct cash payments should be part of the package that you are going to be proposing? >> we are going to be proposing an entire package. parts of that package are of equal consequence to people. unemployment insurance being able to continue with rent forbearance. a whole, whole range of issues that's number one. we think they all have to be dealt with the price tag will be high but as i said -- made scant reference to in my opening comments, the overwhelming consensus among the leading economists, left, right, and center, is that in order the keep the economy from collapsing this year and getting much, much

worse, we should be investing significant amounts of money right now to grow the economy. and that's a pretty wide consensus. as you know, moody's canh done analysis of what i originally had been talking about and said that it was necessary to keep the economy from going down. we would rise. we had create 18.6 million jobs, create $2 trillion more in economic growth than the other administration would, this outgoing administration. so it is necessary to spend the money now. the answer is yes, it will be in the trillions of dollars, the entire package but it will be -- i will be here next thursday laying out in detail how that package is going to go. but the basic story is simple. that if we don't act now, things are going to get much worse, and harder to get out of the hole later. so we have to invest now secondly, we are going to have to meet the emergency needs of the american people.

i mean literally, i know you know this, ken, but people are having trouble just putting food on the table just having a -- keeping the payment on their car, maybe able to disturb the lights on there is dire, dire need to act now,%ly out of what is a humanitarian need here at home and thirdly -- the third stage of this, the whole story, we are going to have to invest as i suggested throughout the campaign, in infrastructure, and health care and a whole range of things that are going to generate good-paying jobs that will allow us to grow the economy. that's the long answer to your question which is the idea that the idea of, with interest rates as low as they are, with the fed having their powers taken away so they could help this administration like the last, every economist thinks we should be investing in deficit spending in order to generate economic growth. >> i wanted to ask you about

what took place at the capitol this week. you served in the senate for 36 years. important lesion you were there in 1983 when there was an explosion in the senate quarter. you were there in 1998, when two capitol police officers were shot you were there during the anthrax attacks in 2001. what kind of an investigation needs to take place? what steps need to take place to improve the security of the capitol? and then, secondly, how do you think the people who were involved in these -- in the storming of the capitol -- how should they be treated buy your justice department should they be treated as domestic terrorists? >> yes, they should be treated as they are a bunch of thugs insurrectionists, anti-semites -- come on, the shirts they are wearing. tees are a bunch of thugs. thugs. and they are terrorist, domestic terrorists and that will be a judgment for

the justice department to make as to what the charges should be but the fact is, they should be prosecuted they should be prosecuted. the difference here is this had the active encouragement of a sitting president of the united states and the way in which the breakdown in security occurred needs to be thoroughly investigated i'm not going to prejudge what it was but the idea -- the idea that these people were able to just march up the stairs, march in, and do it in a way -- we had -- there is a great debate -- i don't know the answer. a great debate now was -- is the governor of maryland correct when he said that i was ready to send in the national guard, i can't get authorization? what happened? it deserves a full-blown investigation. people to be held accountable. and steps taken so that something like this could never happen again and the difference this time is,

everybody -- every nation has dealt -- every democracy has dealt with individual terrorist attacks by groups that are in very targeted. the largest target was 9/11, and the buildings. well, right down to blowing up, you know, a bomb going off in the capitol when i was there, and two policemen. but the idea that thousands of people, thousands of people could be marching up the steps of the united states' capitol, breaking windows, breaking doors, forcing their way in, stepping aside, and the photographs of -- i don't know what the circumstances -- the photograph of what looked like you had some of the capitol police taking selfies with these people -- that has to be thoroughly investigated. the authorities responsible have to be held accountable for the failures that occurred and we have to make sure that this can never ever happen again. the damage done to our reputation around the world by a president of the