sentences when national security is at stake. >> chelsea manning was found guilty. she acknowledged wrong doing. mr. snowden fled into the arms of an adversary. >> do you think you would be sitting here today? >> as a matter of fact i do. >> they don't want people to get a good look at these people. >> these people. >> breaking news about america's oldest living former president. george h.w. bush is being treated at a houston hospital after falling ill. >> he battled a series of health issues in the last year. live at the white house with all the breaking details. what do we know. >> good morning, allison. well the former president spokesperson tells cnn he has been hospitalized since saturday for shortness of breath. he is responding well to treatments and will hopefully be

released from the hospital soon. that's according to a spokesperson but he suffered from a series of health concerns over the last several years. for one thing he suffers from a form of parkinson's disease. twice in late 2012 for bronchitis and spent two months in the hospital being treated for that. and in july of 2015 he suffered a fall and broke vertebrae in his neck and also remained quite active celebrating several birthdays by jumping out of a helicopter skydiving in houston but it's a big concern any time someone of his age is hospitalized and it could effect his son's plans to attend friday's inauguration. we'll have to see what develops and if the plans change.

>> trump talking about his rift with the cia and the border wall with mexico. just two days away from his inauguration jason is live with more. >> there's a lot of headlines there as you mentioned. he goes into more detail than we heard in the past. specifically how he feels about that intel leak after he got that briefing about russia and it's involvement in u.s. election. he also talked about the border wall as you mention. specifically say whog he believes is going to pay for it. of course it's going to be mexico at the end of the day and finally chris, once again he does talk about that feud that he is having with congressman lewis and how he feels about the total now of 54 democratic lawmakers who will not be attending his inauguration.

>> he responded to your twitter. you questioned whether or not he might be the leaker. he is saying no he's not the leaker. what is your response. >> i accept it but it came out of some place and it's you fake news. i can say something about george washington and abraham lincoln and you and just fake news and they shouldn't have been a part of it. they should not have been a part of it because it's made up, never existed never happened and the reason i say that so strongly is because nothing is ever going to show up. no i would be embarrassed if a tape showed up saying something like that. i was never even in that room for that period of time. they made stuff up and it started with the republican party when they tried to beat me nomination and then it went on and the democrats took over that work supposedly and by the

intelligence giving it a little bit of credence by just even talking about it it was very inappropriate so i don't know who the leaker was. i have no idea but it's fake news. >> there are congressmen and women that decided not to show up and not be there. what was your reaction when congressman lewis started this. >> what he said is that he's never done it before but he has. he has done it before because he did it with president bush 43 and he did it on the same basis. he is not our president of something there abouts and that's a very bad misrepresentation. so let's see what happens. as far as other people not going that's okay because we need seats so badly. i hope they give us their tickets or give them to other people. what happens to their tickets? i hope they'll give us their tickets. when i said we'll get reimbursed for the wall they said he's not building the wall. we're going to build the wall and mexico is going to reimburse

us and headlines -- what is this all about? now in order to get the wall started which we're going to do sooner than we can do the deal, we have to do it this way so we'll have a wall mexico in some form is going to reimburse us for the wall and everybody is going to be happy and we're going to stop the drugs from coming in and we're going to stop people from coming in who are doing in some cases some tremendous harm but have to say this, we'll have a tremendous beautiful big door on the wall. >> and the president elect talked about his inauguration address. last month he said he would be writing it himself. officials say he has done just that and he talked a little bit about that. he said in the opening of his speech he plans to thank all of the past presidents and he specifically gave a special note to president obama and his wife. he said the two of them have

been especially gracious throughout the transition. >> any headlines pop out at you. >> what i wonder in hearing that is he takes on democrats that have taken on him. how he wants to tried to bridge the divide a little bit. trump is coming into office now with a very divided country. mostly about him and his temperament and approach to the office. but i'm looking for what he might try to do to change that a

little bit. >> are the 45 democrats in the house that decided to boycott are they making their bid that they're not going to be helpful to the president and he won't seek them out? >> they're standing their ground at least with the inauguration it's a symbolic push back for them and the broader point is how these two sides are going to work together. that's not the way to engage in a back and forth dialogue. >> he was talking about the

dossier that said there was information and it came through political opposition research. he doesn't like what's in it. he doesn't believe he's been compromised so he's calling it fake news but basically he is saying he doesn't believe it and it's not true. >> right. this is the trump strategy. it's to dismiss and focus on the one phrase he wants his supporters to hear over and over again. it's fake news. yes, with that point very much so but sort of the broader issue is he has to build a relationship with democrats on the hill you would think and at least so far there hasn't been the others doing that but it's not like he's bringing us into the cabinet and we're not in the inner circle and we haven't heard a change of rhetoric in terms of trying to reach across the aisle. >> how do we know that you're right that he wants to unify? he said it from time to time but if you look at his actions.

he has done nothing to bridge the divide. also refused to acknowledge that russia was behind the hacks even when he admitted it he still gave an opening that it could be other people is that the unity? >> no. even people that supported him we have been talking about this for over a year. people that supported him have concerns about his temperament and how he conducted himself and that's a real problem. part of it is he can't help himself. anyone that questions his legitimacy as a leader and whether he rightly and fairly won the election. he can't restrain himself so he has to deal with that and maybe

he won't but i think another point in all of this, he is going to have to make decisions about where his priorities are. as are democrats. he'll have to decide what fights he wants. these things will require time and political capitol. all the while he wants to take on international relationships. so as someone that doesn't know the presidency and isn't qualified for the presidency it's going to be a rude awakening how he's going to try to do these things at the same time. >> one point he made too is what he said about mexico reimbursing

them for the wall it was one of the huge applause lines at his rallies. nothing would get his supporters more excited than the idea that the united states was going to make mexico pay for that wall and now he's going to this lengths of reimburse. it does not have the same tone but in terms of temperament and priorities it's not about trying to bring another country to its knees. it's saying you can send us the check afterward. >> he's going to be accountable for the big promises among his supporters and the public at large. the media is not going to let him get away with that. and now as your president you stand and deliver or not.

>> we're watching this in real time with obamacare. president elect trump said more than once everybody should be insured and now tom price and paul ryan are like what? how do we do that? so even within his own party some things might cause future strife. >> that goes to a larger point. where are the battles within his own party. he's going to take it from whatever relationship he charged with russia so we watch for that. but this is a very important case about the future of the affordable care act because there's certainly the energy to replace it. and repeal it and who is going to win the day here? is president trump with all of his political backing going to put the thumb on the scale? no you're going to do it my way and find a way to insure all americans. or is he going to accept the

judgment of those conservatives on capitol hill that say this is what it's going to look like? we always wondered what the tension would be like between him and ryan. i think we'll find out. >> thank you very much. >> thanks. >> so there's praise and outrage following president obama's decision to commute chelsea mannings 35 year sentence down to 7 years. he was convicted of leaking hundreds of thousands of pages of government documents. barbara is live at the pentagon with the latest. good morning. >> good morning. it was one of the tiffest convictions ever for violating the espionage act but now chelsea man as good getting out of jail. >> in a stunning move president obama commuting the sentence of chelsea manning the former army intelligence soldier convicted of leaking documents to

wikileaks. now set to be released in may after serving 7 years of a 35 year sentence. >> i have serious concerns about this when national security is at stake. >> going against the elections of secretary of defense ash carter and sending shockwaves through washington. >> for the president that's made so much recently about the changer that wikileaks posed to our national security i think it's very disappointing. >> a transgender woman formerly known as bradley stole hundreds of thousands of classified military files including videos of u.s. air strikes in iraq that sparked concernings over human rights violations and embarrassing diplomatic cables. a leak credited with putting wikileaks on the map.

manning pled guilty including violating the espionage act. he struggled with gender identity issues twice trying to commit suicide after requests to be transferred from a civilian prison were denied. wikileaks celebrating the news. hailing it as a victory. but obama did not exonerate another famous leaker nsa contractor edward snowden. >> mr. snowden fled into the arms of an adversary. chelsea manning is somebody found guilty and sentenced for her crimes and she acknowledged wrong doing moscow now says he

can stay in russia until 2020. >> confirmation hearings are on going today. >> you have four of them up there today. the incoming education secretary potentially because boy did she get hammered yesterday. we'll tell you how, next. tomorrow's the day we'll play something besides video games. every day is a gift. especially for people with heart failure. but today there's entresto... a breakthrough medicine that can help make more tomorrows possible. tomorrow, i want to see teddy bait his first hook. in the largest heart failure study ever, entresto was proven to help more people stay alive and out of the hospital than a leading heart failure medicine. women who are pregnant must not take entresto. it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren. if you've had angioedema while taking an ace or arb medicine, don't take entresto.

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>> health and human services nominee congressman tom price. this comes after a hearing late yesterday for education secretary nominee. live on capitol hill with more tough questions for devos. >> there were and betsy is certainly one of donald trump's most controversial cabinet nominees and we did really see that reflected in the sharp line of questioning coming from democrats yesterday bringing up her support for the voucher program and school choice.

>> do you think if you were not a multibillionaire if your family has not made hundreds of millions of dollars in contributions to the republican party that you would be sitting here today. >> if president trump moves forward with his plan to ban gun free school zones will you support that proposal? >> i will support what the president elect does. >> this will be another critical day for the incoming trump administration on capitol hill and pressure is mounting on tom price. he's trump's nominee for health and human services secretary and is facing a two part confirmation hearing going into today's hearing with a slew of insiding trading accusations at his back. democrats are saying the hearing

should be postponed so more adequate vetting can be looked into the ethics charges. the committee he will face next week is already accusing republicans of, in his words, rushing to sneak this nominee through. >> thanks so much. good morning, senator. >> good morning allison. >> i know you weren't part of that committee but i want to ask you about how the hearing went. many of your senate colleagues asked her a slew of questions. at times contentious. let me play for you a moment when she responds to how she would feel about more guns in schools. listen to this. >> you can't say today that guns shouldn't be in schools? >> well i will refer back to the senator and the school that he was talking about in wyoming. i think probably there, i would imagine that there is probably a gun in the school to protect

from potential grizzlies. >> if president trump moves forward with his plan to ban gun free school zones will you support that proposal? >> i will support what the president elect does. >> were you satisfied with her answers? >> at best that was evasive at worst that was insulting. the senator from connecticut was asking about gun free school zones in part because his state was so rocked, so effected by the massacre at sandy hook representative and he's been working to reduce the possibilities of gun violence in schools so he was asking i think a relevant question which she dodged. >> a lot of your colleagues felt they don't support her because she doesn't have any experience personally or professional with public school education. her counter point is that she

has a lot of experience with children and education. do you think she'll be the next education secretary? >> i don't know if she'll get confirmed but i am concerned that her record in advocating for school vouchers and charter schools doesn't include a record of advocating for accountability and transparency. i'm fine with the idea that we should experiment with charter schools in education as long as they're fully accountable and i oppose school vouchers and she has been an advocate for restructuring the public schools of the state of michigan with, my impression is from everything i read with very negative results for the school children of the state of michigan. >> all right i want to ask you about other cabinet picks that are looming. rex tillerson, i heard that you are still on the fence about him. how are you going to vote? >> i spent the weekend going

over the transcript. we had a nine hour hearing. it was the same day as the sessions hearing so i was back and forth between the two. i have some questions i want to follow up on with mr. tillerson and i'm consulting with colleagues on the committee. democrat and republican. he gave a number of answers that didn't satisfy me. lobbying at exxon. view in the role of human rights in advancing american interests and his view of climate change but before the confirmation hearing we had a very constructive meeting and have to ask myself if not rex tillerson who else might be nominated by president elect trump. he distanced himself from the alarming things donald trump said about nato and vladimir putin in russia and role in the world and importance of the un and the iran nuclear deal so he was less concerning to me than donald trump is on foreign

policy. >> you also met with nikki haley. mr. trump's pick for ambassador to the un and she shared with you her world view i think also d diverges from mr. trump. >> both governor nikki haley and rex tillerson have said they value nato. they have a view of vladimir putin as being the aguesssor. particularly in ukraine. they oppose the idea that we might accept the annexation of crimea and they do think we should stay at the table of the climate agreement negotiated in paris and the iran nuclear agreement. those are important steps in the direction of a bipartisan mature view of world affairs. but it highlights how unpresented the tweets have been

when he was picking fight with the head of germany and nato and the cia on his own republican counter parts and with civil rights legend lewis. it's going to be quite a challenging time ahead and i see the value of supporting the confirmation of folks more seasoned and stable. >> he told them why he is giving putin a fair shake. let me just read this moment to you. he said i gave everybody an even start. that right now as far as i'm concerned everybody has an even start. >> means there's in his mind a level playing field between vladimir putin and angela merkel. >> that is ridiculous. that is frankly out rages you to suggest that one of our closest european allies that stood

shoulder to shoulder with us in nato for several decades is to be trusted equally with the head of state of a country that recently attacked our election with a cyberattack and recently invaded an occupied territory of a neighboring country to suggest that we should trust these two heads of state is striking. >> great to talk to you. >> president obama's decision to commute chelsea manning is being praised but also criticized. why did the president do it? we'll ask white house press secretary josh earnest next. have conquered highways, mountains, and racetracks. and now much of that same advanced technology is found in the audi a4. with one notable difference... ♪ the highly advanced audi a4,

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president obama is making headlines by signing 209 more commutaitons. something more than the last 12 combined. chelsea manning's is sparking controversy. why did he do it? we have the man to answer that question.

josh earnest. this will be our last time doing one of these with you at the white house. it has been a good ride and we appreciate the access you have given us. >> i appreciate the opportunity one last time. >> you will get no pass. why would you commute the sentence of 35 years to 6 making it to 7? why do that with someone that leaked 750,000 pages and videos of often very sensitive material with an administration that had been very hard line on leaks. why do this? >> well, listen, chris, chelsea manning committed some serious crimes and she has served nearly 7 years in prison to, as punishment for the crimes. she took responsibility for committing the crime and expressed remorse and served her time. the 7 years she has served behind bars is consistent with the sentence that was handed

down to other people that committed similar crimes and the president believed this was an appropriate punishment in part because she took responsibility for them and expressed remorse for them. what i have a hard time swallowing and what most americans have a hard time swallow as good criticism from republicans that suggest that somehow what chelsea manning did is treasonous while because of her work with wikileaks and providing information to wikileaks while the same republicans endorsed a man for president that praised wikileaks and gives the leader of wikileaks more credit for having more integrity than the men and women of the intelligence community. the criticism put forward for this action requires the american people to suspend belief and their memory about all the words that were spoken

by wikileaks about the man they endorse as president of the united states. >> one you say she served her time except there is a sentence through our justice system. 35 years so she hasn't served the time because 35 is what was given and on the political side of it part of the criticism is well now assange says you did the right thing by chelsea manning so maybe he'll surrender himself. he never made good on those situations before. this is a unique situation and it makes people feel like maybe you're going to cut him a deal as well. has there been any communications or indication that he's going to come now? >> with regard to chelsea mannings sentence, anybody would be hard pressed to suggest that almost 7 years behind bars is going easy on her.

she owned up to her crimes and expressed reforce and this is an appropriate punishment for those crimes. >> what about assange. >> i don't understand why anybody would believe what he has to say so we'll see what he chooses to do. when it comes to law enforcement that's the department of justice and any actions that they may take or conversations they may have is something they will do independent of the white house. >> i don't have any comment on any decisions that the president hasn't made. there's a number of other people that applied for clemency but i don't have any news to make on that front. >> but you can't say that he is not getting commuted? >> what i can say is that if we have news on this then that's news that president obama will

make. and president obama offered clemency to our men and women that served time in our criminal justice system for drug crimes. if they were sentenced today they would not have faced the sentence they previously faced so this is about bringing fairness and justice to our criminal justice system. many of these people are getting a new lease on life and sec chance. 500 of them have previously been sentenced to life in prison and never thought they would get out of jail and see and have an opportunity to make a positive contribution to their community to be reunited with their family. so this is an opportunity for many americans to get a second chance. that's consistent with the religious values and certainly with the basic principles. >> the inequities are

well-known. people that compromise the american military are another category. the dossier that was provided as a synopsis and briefed to the president and the president elect, the president elect is upset about it. some of his supporters said it shouldn't have been in there. this seemed like a gotcha move. did they know that was going to be included in the briefings and was it a pay back move to trump? >> the content was determined entirely by the men and women of the united states intelligence community and that is as it should be. the content of the report and the briefings and the content of the unclassified report released to the public.

the president set a deadline for january 20th but the day in which it was released. all of that was determined by the men and women of the intelligence community. these are men and women that served their country without regard to their own personal political or ideological views. their mandate was to provide as much information as possible to the president of the united states and the incoming president and men and women of the united states congress so they can make smart decisions about the best way to safe guard our country and the truth of the matter is the incoming president and congress are going to have to make difficult decisions to figure out what we can do to push back against our adversaries in russia that took specific strategic steps to try to undermine public confidence in our democracy. that's serious but how to guard against their future interventions in upcoming elections is something that the incoming administration and congress are going to have to

grapple with. >> so this was seen as a referendum against the administration. the cnn poll has president obama at 60% as he exits. how is that going to play into the message that we get from the president today in his final briefing to the american people? >> there's still a lot of analysis about the election that has to be done. the american people by a strong majority feel good about the policies that president obama has put in place and the impact that it's had on the country and yet the american people voted to try something different and a very different communication style and policy agenda and we'll have an opportunity to see whether or not this approach produces the same results that president obama's policies

produced and we welcome that comparison and the american people get to decide what agenda we want to move forward with and we can try it a different way and there's a benchmark that's been set and after four years we'll have the tount to compare the progress made under president trump's leadership and we'll see what works better but also the commitment this administration has shown to work closely and give them a chance to get off to a running start. that's what we owe the american people and that's a responsibility that we upheld. >> a reasonable and open minded josh earnest. different from the josh earnest captured in one moment of tonight's cnn presentation of the end inside the last days of

the obama white house. i want to play a little bit of what's going to air tonight of you going to the president after having to process the loss of this election and the victory of donald trump. here's a clip. >> all of the questions centered on the painful outcome of the election. >> obviously the trump message resinated with the majority of the voters. what happened last night? >> does the president feel that the results were some sort of a rejection of him? this is now real. surely the president must have real concerns right now. >> i want to be real clear about this, the election is over. those briefings were difficult for me and my staff this isn't just a job. just a 9 to 5 gig to pay the mortgage. a lot of this work is something that people feel called to do. >> you're a lifer. you have been there about ten years with president obama. what has it been like for you

through the course of this journey and what was it like for it to end with the election of donald trump? >> the last ten year versus taken me to places and introduced me to people i never imagined i'd have the opportunity to see and i have been so blessed to have the opportunity to stand here in conversation with you at this place but also to stand at the white house podium and advocate for a president and fight for an agenda that i deeply believe in and it's never been about just punching the clock from 9:00 to 5:00. i'm speaking with conviction about a vision for the country that resinates with me. i have been inspired by his commitment to a set of values and policies i believe moved the country in the right direction and like a lot of people that work here and dedicated a portion of our lives to fighting for that agenda i was disappointed by the out come of the election. there's no sugar coating that and i never have but this also

is an opportunity to spend time doing soul searching but also to make sure that we don't lose sight of those core values and lose hope that somehow they aren't worth fighting for anymore. and the role of journalist in our democracy has never been more important and that's been my role here is to facilitate the relationship between the white house press core and the white house. there's a responsibility to hold people in power accountable and ask tough questions. that can be uncomfortable even for people doing the right thing for the right reasons but it's necessary for democracy and for the next four years the job of journalists that work here and all of you and keep asking all of the questions.

and what they're doing or why they're doing it what their motivation is and hold them accountable for the promises they have made. >> i dealt with you on camera and off camera. wasn't always easy but you always held disagreement with decency and for that you should be respected. josh earnest, good luck to you in whatever comes next. >> thank you. i appreciate that very much. >> all right. the end, inside the last days of the obama white house it airs tonight at 9:00 p.m. eastern on cnn. it is a really good look at tiner workings. >> that is not an easy job. that is a tough one. >> and to make it that long. that ain't easy either. >> absolutely. back to the news congressman tom price the nominee for the next health secretary will be in the hot seat today. he wants to repeal obamacare. what is his plan for replacement? we have a live report next. with the xfinity tv app,

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he bought stock in a medical company and then introduced legislation that would have directly benefitted that company. chuck schumer is now calling for a probe into this case. dr. sanjay gupta is live in washington with the latest. >> good morning. that's going to be a big topic of discussion today but also the fact that congressman price has been releasing his own version of a replacement of the affordable care act for the last several years. that will be a topic as well. we wanted to dive more deeply and talk to people that have known him the longest. >> reaction about allegations regarding his stock purchase is swift. >> i'm extremely troubled. he has a steep mountain to climb. i'll wait to see what he says at the hearing but it's going to be hard to dig himself out of the hole. >> a trump transition spokesman called the allegations quote adding any effort and legislation by dr. price and

campaign contributions. >> this is the first relationship and the health care industry has come under scrutiny. >> in december the wall street journal reported price made 40 health care pharmaceutical and bio technology stock trades since 2012 totaling more than $300,000 all while he sat on the ways and means committee and helped oversea medicaid. price sought special treatment from industry donors on 38 different occasions. price declined our request for an interview and through a spokesman said he will comply fully with the recommendations put forward by the ethics office. it included a reference that found price to be compliant with congressional disclosure rules. as for price's personal history a search by cnn found no court, criminal or bankruptcy filings and no medical malpractice

complaints against him. >> he's my boss and he's also helped raise campaign funds for price. when he started his residency nearly 40 years ago in 1979 price was one of his fellow interns. >> there are . >> there are a couple of circumstances in life. one is when they don't think anybody is watching and the other is when you're under some type of stress. >> where did tom price fit in. >> price got his medical degree at the university of michigan. it was at grady memorial hospital and emory university in atlanta where he met his wife, elizabeth, betty. an anesthesiologist and current georgia state representative. together they have one son robert, 26, who graduated from vanderbilt. after eight years he was elected to the u.s. house of representatives in 2004. >> our liberty and freedom comes

from god almighty. >> reporter: guided by strongly held religious beliefs, he's staunchly against abortion, getting a zero rating from planned parenthood and a 100 from right to life. >> this guy is a born legislature with a lot of skill. >> reporter: pledging to repeal obamacare. >> we want to repeal this law and replace it with positive, common sense, patient-centered solutions that put patients and families and doctors in charge of health care, not washington, d.c. >> reporter: if price is confirmed as secretary of health and human services, he would oversee 11 agencies including the cdc, fda, national institutes of health and 80,000 employees. he'd be just the third physician ever appointed to this role. i can tell you something else.

when it comes to major physician groups, medical groups around the country, they have been very supportive of dr. tom price. as i pointed out, only the third physician to hold this role. we'll see what happens today. more support for him from doctor organizations than the affordable care act itself. >> appreciate that insight. president-elect trump says he'll bring jobs back to america. in fact, he says he already has. is that true? what we saw with ford, gm, lockheed. the president-elect is tweeting right now it was because of him. our business experts weigh in next.

on tuesday president-elect trump tweeted thanks to general motors and walmart for, quote, starting the big jobs push back into the u.s. are those companies reacting to the president-elect's call for new jobs in america zm let's bring in cnn chief business correspondent christine romans

and cnni host of quest means business richard quest with a winter wonderland backdrop. >> living large in davos. >> there are all these different companies, we started with carrier air conditioning. there's been general motors, walmart, ford. there's a handful that since mr. trump has been elected have announced that they are keeping jobs or adding jobs here in the u.s. is this the trump effect, christine? >> this is the trump effect in that they've completely changed their public relations. they want to demonstrate to this president-elect that they are creating jobs in this country, have been investing in this country. they want to deemphasize growth overseas. amazon announcing big jobs growth. amazon already was growing very strongly. you look at walmart, emphasizing big job initiatives.

>> touting it in a way they didn't a year ago. >> they're saying, yes, america first, mr. president. >> what does that mean in terms of -- richard, let's bring you in -- the president-elect tweeting this morning attacking another media outlet that he's saying it's fake news if you report that companies aren't keeping jobs here or making jobs here because of him. is it because of him, or is that spin that he's playing into? >> reporter: it is a bit of both. and the president-elect will love what i'm about to say to you. less than 15 minutes ago standing next to me was carlos goan, the chief executive of nissan. i asked him exactly this question, was he changing his plans as a result of donald trump. he said yes, we are taking into account the fact that though

there may be tariffs from imported vehicles, that the president-elect wants to create more jobs. i said to him, well, you haven't announced anything yet. when are you going to? he said we will, we will. he saidhere is no question in his mind that they are going to adapt their business strategy to account for the new reality in washington. what christine says is absolutely correct. all the other companies have done who haven't had a chance to formulate a plan, is they've adopted the pr strategy and shoved it to the top. >> they want a seat at the table when there's tax reform, infrastructure spending. they know things are coming. you've got for the first time in ten years a republican in the white house and both houses of congress. they think something is going to happen. what i'm not clear about is what tax reform will look like. everybody wants it. these companies want a big corporate tax rate cut, right? they're worried about outright tariffs. but they would like to see a big

top line rate cut. >> they already pay a rate of 12%, 14%. the nominal rate is higher than that. but the effective rate is much lower. >> that's why they want a seat at the table. something called the border adjustment tax. donald trump has suggested the "wall street journal" doesn't like that way. we don't know if it will be a border adjustment tax, which would disincentivize moving businesses overseas. they want a voice in the discussion. that's why they're letting the president know, we're going to promote our jobs in the u.s. right now. >> his words have had another ripple effect. he has told the "wall street journal" in a recent interview our dollar is too strong. sure enough, we have a graph, the dollar is dropping. do you believe this is the trump effect? >> reporter: yes, yes and a big yes after that. christine and i could stay say

in our sleep a famous phrase, a strong dollar is? the best interest of the united states. we've heard it for our entire careers. i was talking to larry sommers, former treasury secretary a short while ago. i asked secretary sommers, what do you make of donald trump saying a weaker dollar will be better. there's a slight gasp. he sort of says, it's unwise. the rubric and the rhetoric of a strong dollar has been around for two decades. donald trump's use of this phrase now to talk down the dollar, still too early to know whether he wants a managed dollar decline. if he's not very careful, that's exactly what he's going to get. >> in fairness to him, once he takes office, he's going to have to explain why he wants a weaker dollar, what he thinks that will mean for the economy and he has to have a chance to lay that out. >> christine and