market gains and how the business community is reacting to the trump's -- to be trump administration's economic agenda. ♪ host: the last sunday of the month. october 29, 2017. good morning and welcome to washington journal. a new poll finds that seven in 10 americans say the nation's legal -- clinical divisions are at least as big as the time of the vietnam war. we would like to ask the state of your political party and yourer that represents views. here's how to join the conversation. for republicans, (202) 748-8001. democrats, use (202) 748-8000. independents, (202) 748-8002.

you can also post your thoughts on facebook and twitter. we are @cspanwj. we look forward to your postings and tweets. you are not, if registered as a democrat but vote regularly as a democrat, that is the line to use or you. same for republicans. we will get to your comments in a moment. part of our conversation reflected in a poll in sunday's "washington post." ""just messed up." we told you about the lead on that. conductedthis poll, nine months into trump's tumultuous presidency reveals a starkly pessimistic view of u.s. politics, widespread distrust of political leaders, and their ability to compromise and an erosion of pride in the way democracy works. we will focus on your thoughts

on your political party and whether that represents your views. "wall street journal" had an article about the democratic side of things to their headline -- "democrats struggle with their own tea party moment." janet hope writing that six democrats are challenging an incumbent publican in next year's midterm election. one identifies with the anti-trump resistant movement. the other calls himself a practical progressive. two already have more campaign cash then the incumbent. while democrats are unified in their opposition to trump, they are at odds over which strategy and message are needed to end the party's losing streak. democratic candidates are split on bernie sanders proposal to create a single-payer health system. focus on should mobilizing its liberal base or instead tried to appeal to swing voters.

the democratic national committee has failed to win back four democratic seats in high-profile elections. a bit more on that piece from comments from former republican congressman tom davis, who in thatn an is quoted saying republicans went through their own tea party phase, a former gop congressman from virginia. now, democrats are going through phase.erbal tea party here is david. does your party still reflect your views? caller: not at all. if you have a minute, i will tell you a story which will make you understand. out here wastics just as bad as it is now. they cut the post office in half. i got cut off -- host: you are there. you are on the air. these ladies cut the

post office in half. here i am out here, just wanting to get the mail. and i got to go up and pee. neither one of them are really representing what america stands for. our government is not supposed to be smaller. it is supposed to work. atis not supposed to tax three or four different levels. it is supposed to be equal. i do not know why one man's dollar is different from another man's dollar. host: when did you say this happened in georgia? caller: i think it was 1928. we has pictures of it in a book called the "emmanuel memories." it dates all the way back to when emanuel county was formed. six generations in emanuel

county. florida.'s hear from steve on the democrats line. does the party reflect your views? much as it used to. i believe the divisions between conservatives and liberals was really defined during the reagan administration. wasre that, of course, i just starting to vote back then, -- you know, it was still vote by the person, not the party. but then, at the onset of the reagan administration, people who voted democrat were being accused of being socialists. they were being accused of just wanting government handouts. and the unions were basically gutted out. and all of the things that made

democrat's strong were just basically deleted. that is when i really became a democrat. but i think that the democrats need to support the unions. i think that we need to really let the country know that we work hard, work hard to educate ourselves, work hard to raise our families. we are not an underclass, the way rush limbaugh stated. host: you said you became a democrat. i assume you are still a democrat. what about your friends and family? are they still as loyal to their party, if they are registered as democrat or republican? caller: no. more they beere boomers than i was just i was the youngest. around the kitchen table, when we all get together.

i am a token democrat. host: so they are baby boomers, and they are republican or independent -- certainly not democrat? caller: yes, they are republicans. because really, the baby boomers identified themselves with the reagan administration. host: thank you. we will also talk about the pew research group and their typology in the changes in medical parties. part of what they write is nearly a year after her trump theelected president, republican collision is deeply divided on such major issues as immigration, america's role in the world, and the fundamental fairness of the u.s. economic system. the democratic coalition is largely united in staunch opposition to trump. election hasmp's triggered a wave of political

activism within the sizable liberal bloc, the liberals' sky-high political energy is not nearly as evident among other segments in the democratic base. this is perhaps most reflected announcement that he will not run for reelection. there is a look. [video clip] >> better able to represent the people of arizona and represent my country and my conscience by re-myself of political consideration that consumes far too much bandwidth and would cause me to compromise far too many present goals. to that end, i am announcing today that my senate service will conclude at the end of my term in early january 2019. this moment,at that a traditional conservative, who believes in limited government and free markets, who free trade, who

is pro-immigration, has a narrower and narrower path to nomination in the republican party, a party that has so long to find itself by police in those things. it is also clear to me, in the moment, that we have given in or given up the core principles in favor of a more viscerally satisfying anger and resentment. to be clear, the anger and resentment that that people feel at a royal mess we have created is justified. but anger and resentment are not the governing philosophy. an undeniable potency to a populist appeal by mischaracterizing or misunderstanding our problems and giving into the impulse to scapegoat and belittle. andimpulse to scapegoat belittle turns us into a fearful, backward looking people. in the case of the republican

party, those things also threatened to turn us into a fearful, backward looking minority party. bill in hear next from florida on the republican line. does your political party represent your views? you are an independent. i assume you're not registered with any political party. is that the case? caller: i vote -- well, i voted sanders this time. i went ahead with clinton. where things stand with the democratic and republican parties, the evolving views in both parties? caller: i believe neither party has a conscience. i believe they are both indebted to big business. backed fracking, which is detrimental to one's health.

they know this. the republicans know this. they know the oil is destroying us. and eightflorida, forars an hour is the wage, the most part. i am a retiree, new york state csca, civil service employee association. i have concerns about because additional convention that they are going to have in new york to try to cut into the pensions. host: so the state of new york has called for a new constitutional convention, is that what you're referring to? caller: yes, they are going to have a vote on november 7. vote urged new yorkers to "no" on the constitutional

convention. we do not need one. we do not need our pensions played with. i am a union person all the way. allied van lines when i first got out of high school. and i know the hard work that union workers do. looking for your comments on does your political party represent your views? (202) 748-8001 for republicans. (202) 748-8000 for democrats. for independents, all others, (202) 748-8002. we showed you jeff flake's comments a few moments ago, announcing he will not be running for reelection. also, senator bob corker of tennessee. cleararticle from real politics, can non-trump republican spark a multiparty system? in less than a week, donald trump has been rebuked by the

last republican president, the one-time party nominee, the chairman of the senate foreign relations committee, and a long time lawmaker. , for any other president, the criticisms would have been damning, a sign that the leader of the gop was somehow an outcast within it had but somehow, for trump, the combinations -- condemnations figured to be emboldened and emblematic of his takeover of the party. notably, his critics do not have to face republican voters again. and those who do have cap -- kept their misgivings to themselves. donovan in jersey city, next. caller: good morning. very disappointed in the democratic party and its inability to raise impeachment to the forefront.

i realize that there may not be the votes, but we need to talk about this. about to spark nuclear war, taking money from foreign governments. peopleould add that really do need to get involved. i hope they will look to needtoimpeach.com. host: in fairfax, california, as they are, -- esther, democrat line. caller: i am really afraid we are losing our right to. know, people, in applying for hurricane relief in dickinson, texas, had to sign a statement saying that they were not boycotting israel. and what is israel having to do with hurricane relief? we are losing our right to boycott. people are having to go to court

not to defend that right. and we are also losing a lot of -- a lot of people are being disenfranchised these new rules. we really have to be more vigilant. host: what do you think you have to be more vigilant about? caller: we have to be more vigilant about people taking control of our government. i really think our foreign policy is much too tilted towards israel. all of our senators just vote apec wants.r we have several bills in congress right now that will boycott, our right to which is a fundamental first amendment right. of billsassed a number

now undoing the iran accord. this was because israel wanted us to do that. and i am just very concerned that we do not have any democracy anymore in this country. we are being controlled i outside forces. host: your tweets are welcome as well, @cspanwj. does your political party still represent your views? this from michael that says will corker and flake continue their criticism of trump? party failed me since eisenhower. and bill king says as much as i disagree with steve bannon, i wish we on the left had someone pushing our values in the same way. withwashington post" tom his take on the republican

party. we are here for the big debate with tax cuts for the rich, period. whitets for the rich plus nationalism. the standard error in the 2016 election, hillary clinton -- the standard bearer in the 2016 election, hillary clinton, talked about the effort on tax reform in congress. here is what she had to say last night. [video clip] embedded in this horrible, irresponsible, cruel and mean spirited giveaway to the riches of americans called tax reform is a $500 billion cut to medicare and a $1 trillion cut in medicaid. [boos] that is exactly the appropriate response. [laughter] but dono't boo. call the congress and tell them

you will not stand for that. host: we will be talking more about the budget and tax reform plans in our upcoming segment, but for this first hour, asking you does your political party represent your views? (202) 748-8001 for republicans. (202) 748-8000 for democrats. for all others, independents, (202) 748-8002. kevin is next on the independent line in maryland. caller: yes. i am libertarian. i believe there is a great deal of factionalism in the two major parties, especially in the last few weeks. both disingenuous for parties to say they represent the populations or their constituents when for years they have sat in office and done nothing. i certainly would hope that people would look at

alternatives within the structure of the political system and vote their heart. host: you said you are a libertarian. tell us about your own party. as that seen changes over the years? is it more consistent, you think, than the major parties, republican and democratic? i think that the major issues that libertarians believe in has been consistent. there is also the same focus has republicans and democrats -- a certain degree of factionalism as well. but the tenets the hold most libertarians together are pretty straight award. we want a smaller government, non-intervention into foreign affairs for the most part. the same, constitutional abilities that our founding fathers you he

wanted or us. so i think it is pretty consistent, for me at least. host: let's hear from the republican line. idaho and roger. good morning. caller: good morning. the righttrump has idea, but i would like to see him get harder on drugs. if he would have some kind of lawmaking drug dealers as , and start from the top, get rid of some of these judges and police chiefs and all and we can start taking care of the drug situation. host: are you satisfied with what the president had to say this past? week in terms of his effort -- this past week? in terms of his effort on the opioid crisis? billr: he just signed some to make terrorists out of drug

dealers. that way, we can either arrest them. host: here is video from this week's announcement. the "washington post" weighing in with their lead editorial on the president's effort to declare a national public health emergency. they say mr. trump makes a star, but the crisis demands a more expansive strategy. even the scale, them nation should be mobilizing. more people are dying then at the beak of the hiv-eight scourge -- hiv/aids scourge. trump offered useful actions and ideas at a white house or my, such as measures to prevent addiction with "really great createsing," nonaddictive painkillers, and bolster law enforcement against illegal imports of the synthetic opioid fentanyl. but trump's announcements are

not enough, writes the "post." it was a start, but he did not provide the resources the crisis demands. matt is next. does your party represent your political views? matt's in plano, texas. caller: i think for the most part, i am very involved in the local democratic party. for the most part, it still represents my values. i would like my party to talk more about economic issues and not just in the frame of we hate what trump is doing in the tax dealings, but a caller before about unions -- i think we need to talk more about that. not just what we are against economically but what our plan is to lift people up out of poverty and give people a better life. i think we focus too much on social issues. it isdo you think structurally hard to be a democrat in texas, given the arrangements of congressional

districts and the overwhelming majority in the state legislature in texas? caller: actually, not these days. i live in a very conservative -- i wasn county, and talking to a republican yesterday. even there, the more rob -- the more moderate part of their party starting to run for the hills. they are discouraged. conservativeself a democrat anyway. if we can focus more on economic issues and help people's families and such, we would do better as a democrat. but you are right. it is not easy being a democrat in texas. what these days, a lot of people are leaving the republican party. mentioned the importance of unions to the democratic already via the head had this to say about the democratic party.

he wrote when you ask people what democrats stand or, there is a pause and a silence. immigrants really do need a facelift. it is not enough to just have a message. people have to believe you will fight for the agenda you espouse. let's hear from larry, also a democrat in texas, on our democrat line in fort worth texas. go-ahead. caller: good morning, c-span. back in the 1960's, when i was a teenager in high school, both parties -- they were all white crow was during the jim era. when lbjparties, signed the civil rights bill, we all sat and voted democrat. it is better since then, but i allthinking that

republicans were racist, but then i found out they are not. racistsll say that all are republicans. kkk members are all republicans. forthe democrat party is all people. republicans are not. that is what i want to say. int: bill, next up pennsylvania on our republican line. good morning. caller: good morning, c-span. one quick comment about the democratic party. i think they have lost the union vote. since much of the union vote went for trump this election. there is a reason for that. the hillary clinton segment of the democratic party was very pro-business. i think ross perot said it right.

jobs are going south of the border. trump has countered a lot of that with his rhetoric and also tried to do some of it with his actions. as far as the republican party, i think that what happened with the bush arrow -- era and at the end of the reagan era was that to moveies seemed towards tax and spend, which is where the democrats were. trump is facing democrat best theicism about not changing government, like the department of state. but that is what republicans want your we want a smaller government, a government more receptive to our citizens and not some globalist agenda of neocons, fighting war. where are we, africa? at some point, this has to stop. we want to build bridges and rebuild cities in our country.

not in afghanistan and iraq. trump amounts to change for the republican party. it certainly represents my views a lot closer. i voted for mccain. when he was running. i felt like she was too much into this whole "we will police the world and take all of our hard earned tax money and spend it on these campaigns." i would like to see trump back towards his earlier rhetoric of not having involved in foreign entanglements. that sounds like george washington, to me. thanks for the call this morning. asking your thoughts, your political views, in terms of does your political party reflect your political views? (202) 748-8001 for republicans.

democrats.000 for and for all others, (202) 748-8002. we had a couple callers from texas. we wanted to point out and editorial in the "dallas morning news" on john cornyn. john cornyn but traces of with theembrace of roy moore, republican candidate in alabama. the "dallas morning news" writing that senator cornyn's endorsement of roy moore is a new low, not just for the former jurist, but for the party he claims to love. we hope, as many have, that cornyn would stand against the tide of populist, exclusionary politics that have come to dominate texas and elsewhere. that hope has been all but extinct list. here is david from chicago, on the independent line. caller: the question is does the

party represent one's interests. i was hopeful for the elect -- i was hopeful for the democrats when they got in power in 2006 with the house and senate. but they quickly lost me with the attempt, specially in 2013, with the gang of eight bill, which would have allowed more foreign legal workers. aeir open borders agenda was no for me. they want with this agenda that hillary clinton pursued. i did not know what i would do until trump came along. he basically once to put americans first and control immigration. even though the rays act is a good start, it would still lift the quota cap for some countries, like india. so i am concerned with her do you and his open borders agenda. ban in-trumpat the

side of the gop will prevail, because that is what i am supporting. that is why i voted for trump. cornyn, mccain, purdue, they are all out to lunch, and they will fail, because people are fed up with them coming looting -- including durbin. we are looking for change. we should listen to thomas frank's book. is host: -- host: thank you for weighing in. the "the washington post" it reportking about how the broke republicans down into different categories. core conservatives are about 15% of registered voters.

we think of as traditional republicans, they represent corporate tax rates and believe the system is fair. country firstup, conservatives, 7% of registered voters are older and less educated. they think the country is broken and blame immigrants for that and think the united states should withdraw from the world. another type of republican identified is market skeptic republicans, 12% of registered voters, are leery of big business and free trade and the leave the system is rigged against them. enterprise is, 11% are opposite. they are younger and more diverse and more bullish. they support business and leave welcoming immigrants makes the country stronger. these are some of the findings typology. political we go to donald in san antonio texas on the democrats line.

caller: good morning. i was listening to everyone speaking. . note democrats mean well , in they get into office listen to republicans all the time. i can't vote republican because they push fear and think that divide our country. that is not what i am four. i am looking for inclusion so we can all live here together and work together. ship goes to sink in, it is not going to say we're just going to save republicans, we will all of sink together. i wish they would learn how to fight.

you say democrats need a backbone. get the votests back? what do they have to do? the republican campaign for the whole year and they were in power. do they let the republicans whatever they wanted and try to block obama every which way they could. democratso a lot of who said that we aren't going to stoop to their level. i asked them to explain what level they were talking about. they campaign and put ideas together.

look right now. they are coming together. they are not representing all of us. they come together for that. " donald in texas. we hear from chuck in phoenix city, alabama. a republican color. caller: -- caller. said racesler who are democrats. i am 70 nine years old. they don't have anything to offer. their whole thing was to take from the working man and give to people who don't work. they talk about trout being a liar, but obama never told the truth. this is what the democrats ignore. if you read the definition of

, these people are screaming racist. question. to the you are calling on the republican line. does your republican party reflect your views? was elected,rump but what we have is when you have a bunch of lawyers -- when , toink about a politician get a bunch of lawyers together, my grandfather was a wise man. arelways said all lawyers liars but not all liars are lawyers. it is like trying to herd cows. if we took all the benefits , they probablyve don't work 60 days a year, they sit and tell us that they have an argument like the tax bill.

people writingt off taxes. by the same token, nobody ever mentions that these people who do not own property, renters who pay more money for rent in different areas than people who actually pay a mortgage. whoshouldn't the person does not own the house became more taxes? they only are you for the people that they want to grandstand for. those people in california pay $3000 a month for an 800 square foot apartment. more we will talk the bit about tax reform in just a little bit on" "washington journal." online is david. -- on the line is david. caller: both parties are not

getting anything done. you have people who have been in there too long. i am not satisfied with both parties. hopefully, someday they will that peopled-party are dissatisfied with both parties can move to and start that party and clean up the swamp of both parties. that is the only solution to the problem. all racesy that said are republicans. i am from west virginia. our one senator was a races all the way until he died. host: thank you david from west virginia. post wrote about

independent candidate saying the of candidates connecting with voters outside the parties or to trump inspired hostile takeovers of the nominations, the future is dim for major parties as we have known them. arrogant,too often unresponsive, and borderline corrupt. they feted candidate and gave them training and fostered compromises. tom on the democrats line, welcome. trump wants to run the country like he wants to run it. we hear from jessica, a republican color. caller: -- caller. -- i voted split ticket at times.

the situation is that i believe that both parties -- i watch and cnn, and fox, i want to hear all sides. putting it all together, i see talent on the right and talent on the left. ica young generation looking at this like a family feud almost. young generation looking at this like a family feud almost. it is inspiring the next generation to reach to higher levels. it is actually going to backfire. all the stuff that is going on

that is taking our country apart is going to backfire. it is going to work out that sooner or later both parties will pull together on this. thank you. host: jessica, thank you. share your thoughts on twitter. clear branding are focused on diversity, and ours seem to be not. from robert saying even jimmy carter is starting to see the republican light. another set i vote democrat because that party doesn't actively seek to harm me, but the gop does. on the republican line is david. c-span.good morning, i am not calling as a republican, i am calling as a a.m. -- an independent.

every federal, state, and municipal election. i am completely disgusted with what our great nation is going through. 90% of elected representatives do not represent the american people. they have two priorities, one, do everything possible to get reelected. two, do everything possible for the party. three, do everything possible for the special interests very when to the people come in? they don't. they are only out for themselves. i am telling everybody i am going to start a movement called green 2018.

it stands for get rid of all 2018, and in november vote in people who have only one priority, do everything possible for we the people. we appreciate your call this morning and thank you for your service. you mentioned your first vote was for harry truman. was this with thomas do it? duey? caller: it was when herbert hoover was president. i remember standing in line with my beloved father to get food and clothing with thousands and thousands of other americans.

i think it is time for a third party. the name of the third-party week, the people. a third party, we, the people. priority, dove one everything possible for the people. host: david, thank you for calling. other news this morning about the rally in tennessee yesterday. "ere is the "washington post had to say on it. cloudyarted on a cold, saturday. they come to seat nazis, but two hours later there were still none. morning, whennd a the organizers of the counter protests at the microphone and

talk to some. report said rally organizers anticipated 175 people. tennessee's racial justice and liberal groups were unsure how many of their members would attend. it ultimately appeared that 300 people attended. 100 white lives matter attendees and twice as many counterprotesters. back to our calls in at millington, michigan is randy on the democrats line. to start byuld like thanking you and only men and women behind the scenes to bring this program to us. host: thank you. caller: thank you. democrat. i come from the bloody nose part of the democrats. i was a uaw member. i walked ticket lines. i've fought for social injustice

. i've fought for jobs, too. between people who figured out how to put the man on the moon or the guy who keeps my plumbing running, i am going to take the guy who keeps my coming running. that is a lot more important. i think everybody went technology and forgot about the hands-on careers. who does hand work anymore? have people who want to be electricians, much less plumbers. you still have to have all that work. believe me, when the plumbing doesn't work -- and that is when i think they lost track. randy, you may have heard a caller earlier talk about unions. they said the democratic party's have lost the unions or do you feel that way as well, given the

number of units that voted for president trump? caller: i have to admit, i was one of them. the candidate i had on my party and the way they presented themselves made me wonder if they were ever around for affirmative action. i hired in 1970 six. i watched affirmative action. don't get me wrong, i think that had to be justified. it was done long before i got in the shot and i was willing to let it get corrected. me i come back and tell didn't see what i have seen for 30 years, or at least for the first 10 when it was hot and heavy on the affirmative action. i have to have a job so i can help the people who don't have the money. if you take my job away or ship it overseas and forget about me who is busting michael's on the job, i have to feed my family -- job, i haveon the

to feed my family. this country was built on the hard strong back and a tough attitude. we were respectful to each other. thank you for letting me talk. next on the is ba independent line. caller: i am thinking that we should just secede from each other. not in anger, but just that we disagree on how things should be done. collect noants to taxes. the other wants to collect more taxes. this guy is talking about unions, but the group that went against unions was republicans. what you will turn around and say the democrats let you down. it is just crazy. who should go which way? should the left go on the west ore of the mississippi,

maybe because the oil fields and ranches are over there, maybe we should go east of the mississippi, or split it in half? it a we should just call day. we are not getting anything done like this. we are not represented because uping is schooled -- screwed and unfair. going to fix it because we both disagree. this is crazy what we are doing. one of the two states holding elections for governor is virginia. virginia election may hinge on immigrants. will they vote? tackett wrote that he was thrilled to meet him he said and he was excited to vote for him. at least he is now.

forstaurant owner who came the united states from india in 1999 became a citizen 10 years later. , the he catered a party , he maystival of lights not have known that november 7 was a election day. in the past decade, expansive growth has added hundreds of thousands of new residents. some northern virginia counties the fastest growing in the state and wealthiest in the nation. among the newcomers were a broad area of people. on the democrats line is dean in north carolina. caller: this country is going to be run like this as long as politics has sold out to the lobbyists. unless at do nothing

lobbyist approves it. you know it and i know it. anyone that knows the difference between daylight and dark knows that. they sold all of our jobs and put money overseas so they don't have to pay tax. are leading our ,ountry, if the money is there if god was on the rate saying i would take care of you, and the devil on the left was a pile of money, every politician would go to the left. reports that an indictment may come down from a special investigation into russia. no word on who that might be are when it might come down. on a related issue, on a trunk

dossier story, this is the daily caller writing that it is reporting on the trump.ca -- some dossier left out issues. they wrote cnn's reporting on the dossier led by evan perez has been favorable to the firm, fusing gps. it has relied largely on unnamed sources and his personal closeness to fusing gps. that is from the daily caller. ben is in springville, massachusetts on our democrats line. thank you, and thank you for accepting my call. locally and at the

state level, i am in line with it. the local and state level is where a lot of action takes place. i have participated as a member of committees. some people don't involve themselves in the functions of the party, they only get involved with the party when the party puts up a candidate. vote for they either or against the candidate. they cannot talk about the policy that goes into what determines the platform of the party. another thing i want to talk to you about is lyndon johnson, who was from texas and a democrat. he was an effective president following jfk's death. he told us at the time of the signing of the civil rights deal

-- and i am 64 years old. i lived through the depression. he told us at the time of the civil rights deal that the democratic party, which he was and pushed the civil rights bill, would lose the southern white vote for the next 20 years. i guess he underestimated that a little bit. shortly after the signing of the civil rights bill, that is when the party started changing and switching. the southern whites who were democrats can change to republicans. northern democrats kind of expanded. of notook at it in terms just recently, but we look at it from that perspective.

administration led of the development overthrowing of the segregation that existed. as a result of that, it lost a southern support. when mixing came in, he developed a southern strategy. when reagan came into office, you had to mississippi to announce his presidency candidacy. that was all part of a southern strategy that has worked well. host: thank you for that perspective on the democratic party. a few more moments left. one: for changes in the democratic party is linda sanchez of california. she is the caucus chair for the democrat of was our newsmakers

guessed earlier this month here on c-span this month. her wish for changes in democratic leadership in the house. here is what she had to say. >> who is the leader of the democratic party right now? there is leader pelosi in the house and chuck schumer in the senate. [video clip] each individual leader and the congress is a leader and we have a lot of talent on the bench and we need to help develop and give people opportunity. i don't think there is one leader of the democratic party. there are many people who try to move the country in the right direction. it is incumbent upon democrats across the country also to be part of making that change happen. >> if democrats win back the house in 2018, will there be different leaders? >> our leadership does a

tremendous job. depth of talent in the caucus and i do think it is time to pass the torch to a new generation of leaders. i want to be a part of that transition. we have too many really great members who don't always get the opportunities that they should. i would like to see that change. host: will tell you about today's program in just a bit. asking you your views on your political party and whether they represent your views. follow us on twitter@cspanwj. have their democrats way, u.s. will be a third world country in less than 10 years. robert says the republicans are getting lots of things done, unfortunately it is all bad for the little people and middle-class. veronicaround the -- on the independent line. my state is

pennsylvania. however, i am a refugee from new jersey from a number of fact there's. i came here to take care of my they came in the depression. i have lived in the self -- south as well as new jersey. i have seen it all. i am trapped in the democratic party right now in pennsylvania because there are closed elections. i spent all my life loading split ticket. i first voted for lyndon johnson, because at the time he had to be 21 to vote and i was 20 when kennedy ran but i wasn't old enough to vote. i became a teacher and got a graduate degree and taught at the high school and college level. i began to see a number of things.

retired justice sandra day o'connor has made a big campaign about teaching civics, and i can't agree with her more. c-span is the only place where i am seeing civics taught at any level. i'd or book tv as well as ""washington journal." host: thank you for calling in. major written that both parties are in crisis and i believe the reason is the ground has shifted a need him in ways they do not understand. until the political landscape becomes clear and the parties reshape themselves accordingly, i feel that chaos and turmoil will reign as the new normal. one more call on this topic or we have jim on the republican line from maryland. .aller: i voted for trump i have always been a republican.

i am 68 years old and was a government contractor for 30 years. i got forced out in contract contractns because the government agency was having a budget review -- not radio, but during the budget stalls. the contracts were terminated because the contract was not purposefully. en over bywere tak firms in other countries. host: tell us how your experience influenced you to vote for donald trump, or the

issue itself. why is he the candidate in this area? jim, are you still there? for the call. we appreciate all of your calls. on "washington journal," we will take a look at the $4 trillion edges that passed. and stan collender are here to talk. later on, the dow continues to climb come across the 20,000 mark. we will talk to the host of a financial news podcast full disclosure about how long a market rally might last, and if president trump can take credit for it. but first, this week's newsmakers, a conversation with the new president of the naacp. naacpks about the reason

issued a travel advisory to african-americans about flying american airlines. that as a told to inform our members and constituents of concerns that we have identified as an organization. for the travel advisory american airlines, our simple goal is to make sure our members and community at large will be notified that there is a pattern that we have identified. we want to make sure that when the tools to family -- planet family trips, this is something we are concerned about. our supporters have applauded our approach in this matter. measured and abe focused and effective. that is something i will continue to do in my tenure as the naacp president. haveat kind of response

you received from american airlines, and specifically the airline industry after the travel advisory? >> we have only heard from american airlines. a reached out and our general counsel spoke to one of the vice presidents. haspresident of the company since reached out. we plan to get on the phone and talk. our goal is to make sure that our members are aware of what we have identified as a pattern, but to work with the company to that the necessary sensitivities around diversity, in particular african-americans, is on the forefront of the employee's mind. and also to recognize that when these incidents take place, it could be the result of the lack of diversity in the decision-making levels of the company or the employee's or sensitivities on how a company makes certain decisions and the

customers, can they take that to our communities? >> you can see that entire interview today on c-span. you can also hear it on c-span radio. newsmakers is available online at c-span.org. next, we will talk with romina boccia who is a research fellow with the heritage foundation and also stan collender, contribute or for forbes and former budget staffer on capitol hill. they are here to talk with us about the budget that passed in the house this past week. it is a $4 trillion budget. -- romina, what should we know about this budget. for a pretty big increase in defense spending and fore are no requirements

budget cuts. more is a potential for spending once congress works through the budget. they are are we talking about another bipartisan budget deal that will lift budget caps that have prevented the increases in defense that the president has asked for. host: by law, that has to happen. stan, we are seeing your peace online and the headline says that the gop has murdered in the federal budget and now wants us to round up the usual suspects. what are you writing about your? the republican crow on house and senate and white house, they have misused and abused and not use the budget process the way it is written in law. the best example of this is that the budget that the house adopted has no relationship to

correct fiscal policy. there was no attempt to look at what the economy will do over the next year and whether we need a budget that is stimulated or restricted. it looks like if there are a lot thinking it's been a cause higher interest rates. they are not following the rules. assuming that the republicans get tax reform done on some level getting into december, what happens with the appropriations debate based on in the 2018st year budget? romina: lawmakers do have time. they have to make sure they have all their ducks in a row by january because that is when a

potential sequester could kick in. the discussions are now over some bipartisan deal similar to obama andw with the boehner deals. they allow for defense and nondefense spending increases. both are happening now. i suspect by the time they wrap up, this package will move very quickly because when we are talking about spending increases and tax cuts, the american people are still very concerned about the deficit and debt and they are not really getting an in washington. what you think outlines to the budget are? what don't you like that is been proposed or put out by kevin brady in the allen of the tax

plan? vague: it has been very when it comes to provisions that will help pay for some of the marginal rate reductions on the corporate side and also on the personal side. i also don't like the idea of keeping the highest individual rate or potentially adding a new one. i like the previous attempt at simplifying and coming down to three great only. -- rates only. the health care exclusion should be capped and is not distributed differently so that individuals have more control over the health plans and not just employers. these are difficult political discussions. the gop is very interested in anding some legislative win

keep the difficult conversations out of the room and that makes it easier. host: your view on what is now an outline on tax reform and what we will see, what will -- what do you think? you need to get the money into the hands of the people. this is skewed toward the wealthy. it will make a negative impact on deficit. that thisredicting tax cut along will cost $2 billion to $3 trillion over the next years and is likely to increase the annual deficit to about a trillion dollars a year, at a time when that kind of stenosis not necessary. there are a lot of things that is not really tax reform. there are tax changes that are being designed for political

reasons. there does not seem to be any theory behind it or basis or discipline. it is just what it -- what we need to do to get the votes. host: we welcome your comments and calls. (202) 748-8000 for republicans. and for independence, (202) 748-8002. we look for your comments to the mother 2018 budget and the tax reform debate. richard rubin in the wall street journal wrote that the national association of home builders is concerned about deductions paired republicans say they will retain an itemized deduction. the ceo of the builders group

said it is a bad bill for the housing sector. what do you think of that? romina: this is

they are able to get away with 250% of debt.

their economy is not growing at a rate that they would like. we don't have that in the united states right now. investors know that there is still a lot of room for the u.s. government. the countries that have a reformed budget successfully, nowen and canada that are balancing budgets have adopted many of the entitlement reforms we need to see here in the u.s. this will only happen when interest rates went up and when it was very expensive. our interest rates are still very low. i do not know why they haven't gone up. we have monetized the debt quite a bit. the dollars are leaving and not coming back. the federal reserve is now starting to unwind its buying program. the economy seems to be taking it ok. there is no reason for lawmakers to worry about the deficit.

stan: the last time we had a significant debt impact on government policymaking was during the clinton administration when they were talking about bond market vigilantes. we have not seen them. they have gone into hiding. until the market says we are not going to buy any more of your got unless interest rates up, you are exactly right. there will be no impact here. i suspect it will be political rather than economical. host: it seems like there are more democrats that are deficit hawks. republicans who are extremely hypocritical about the deficit. after screaming about from the obama administration, and now one of the biggest increases in deficit and they are doing it gleefully almost. estimatesthink the

that are put out are just wrong. they are not taking fully into account the dynamic impacts on the economy that we can expect from a good tax reform plan that lowers corporate rate and allows incentives which will allow businesses to do more business in the united states and provide more investments to make their workers productive. that will be a bone to the economy. the $1.5 trillion that the senate budget allows revenues to be lowered, we do not believe the actual deficit impact will be emphasized. it is much easier to project spending in the tenure budget window. caller -- it fluctuates with the economy. when the economy is growing, you will have more revenue. host: we have a bunch of callers. stan: it is not just the joint tax committee. it is the federal budget. it is the urban institute on

taxation. they are all saying it will reduce revenues by substantial amounts. any of the talk about this is feedback of the dynamic scoring. host: here is gloria on the republican line in new jersey. caller: good morning. i am concerned about the proposed tax cuts. mi connected? host: -- am i connected? host: go ahead. needr: i don't know why we to cut the middle. from what i understand, most are only paying 17%. romina: the reason we need to cut the marginal rate is that while it is true that big operations can afford lawyers and configure figure out how to lower their overall tax burden, smaller corporations are not able to do that because they do not have the funds to hire expensive lawyers.

we want a level playing field for all corporations in the united states. seen, and this continues to happen, is american businesses are leaving the united states and there are moving their headquarters overseas. the obama administration tried to crack down on it with regulations. that does not work so well. the best thing to do is make sure that we are more theetitive when it comes to global marketplace from corporations who want to locate their headquarters here and who want to business in america. that means lowering the marginal or break tax rate, which is one of the highest in the world and among industrialized nations to a level that is more appropriate given the global environment. around 20% is as high as we can go in order to be competitive. concerns- host: your on this?

stan: the point seems to be more corporate tax cuts than individual tax cuts. cuts in cuts in individuals are coming among because they can't

do one without the other. this color excuse to get your ce tax cuts. my concern is, we were told that when we voted that the middle class and the poor are hurting.

[video clip] cost --in: it would and repeal the deduction. this deduction allows you to write off property taxes. it ensures they cannot double tax and packs his -- taxes already pay to the state. guest: let me handle 401(k)s. there is a looming crisis. you idea we are doing anything

-- the only reason it is happening, the reason it is a discussion, the congress, republicans, are looking for the equivalent of nickels and dimes off the pavement to pay for the tax cuts. otherwise, there is no policy justification for doing anything. and: what about the 401k's the state and local taxes -- and memberspublic of past week voting against the bill. guest: there is no doubt that some of our highest tax, highest and members of past week voting against the debt states are benefiting greatly from the state and local tax reduction. we also should be very clear this is a subsidy for the high-tax, high debt states that is being merely taking advantage of by the highest income taxpayers. it is not fair, and it actually encourages states to over-spent on bad infrastructure projects

and other public services they could not -- they should provide because they cannot provide them very well, and they want to stick the rest of america with the tax bill. a state and local tax reduction needs to go. it primarily benefits high income earners that live in high tax, high debt states, and ultimately they might see benefits from that deduction going a while as well. republicans are hesitant to make it go away completely, so they are talking about capping it, so that the benefits would be capped at a certain income levels only the highest earners would be able to clean reduction. guest: two quick points. first of all, there is no doubt in my mind this is something to do with anything other than retribution against states that voted against donald trump, and are not basic republican-backed states. there is no doubt about that in my mind at all. this is the issue -- state and local taxation deduction -- that

could stop tax reform dead in its tracks. host: romina boccia, on the 401(k), do you think changes will be made? guest: we keep hearing conflicting reports. the president, on twitter the other day, said they are looking at increasing those incentives now. it is u clear what is going to happen there. n we did see in the previous -- clear what is would happen there. primaryee in discussions they were talking about a timing shift that would allow people to convert from roth ira's to traditional ira's so they would pay taxes now, but not face a tax burden in the future. those are, i would say, gimmicks, in order to boost taxes in the 10-year budget window. americans should be able to save for health needs, any other kind of need, and we should not discourage them from doing so.

host: let's hear from louise in fredericksburg, virginia, on our republican line. guest: i think the lady, the girl from the heritage foundation is 100% right, and from forbes, who obviously loves the rich. we have a problem with the wealth distribution now. it has been like this for years. the mortgage deduction actually doesn't help me in virginia. it doesn't at all. if i get that deduction, that individual deduction, i will be very happy for it, and that will take care of that mortgage deduction. and if i am making more money, which i am sure i will be, and i am sure my family will be, i think this text plan is a good -- tax plan is a good plan and it will prevent state governments from continuously assessing houses higher and higher to draw in more taxes so

we can deduct them on the federal income tax. maybe it will actually enable the middle class to better afford a house, and maybe, just maybe, it will be able to give benefits -- not benefits, but help small corporations. host: a reminder of the reporting this morning from " wall street journal," publicans saying they will retain an itemized -- republicans saying they would maintain an itemized deduction. collender, do you want to answer first? guest: thank you. i've never been called in favor of the rich. it says that you have swallowed the republican text -- talking points very well. we do not have a bill. i suspect if you are not wealthy, if you are middle, or upper middle class, especially

in fredericksburg, you will find this will hurt you substantially, the bill as a whole, not substantially. host: your take on the caller? guest: yeah. host: she likes you. guest: i think the caller is on point. we need to do something in a certified way. seven out of 10 taxpayers are able to take the standardized test -- standard deduction and they do not have to itemize on their taxes. with the doubling of the standard deduction, we project 95% of taxpayers no longer have to itemize, but they would get charitable benefits they currently get without having to go through the tedious exercise of having to put all that down, finding all those various tax credits. families can also breathe a sigh of relief with an expanded child tax credit. there is also talk of a smaller tax credit of about $500 for individuals who have to take care of other dependentds

agingdents, say their parents it we want to encourage her to take care of their loved ones when they are in need at home and not pushing them off to nursing homes, when they are overwhelmed with the demand. medicaid is growing more and more expensive, and currently is our fastest growing entitlement program. in the long run, it will be medicare. all those types of things can help families put your money in their pockets and help the federal budget with more revenue in growth, and reducing some of the burden on our public system with more family care. guest: all right. you are talking about a $500 credit for care. guest: dependent care. guest: what are the same time you're talking about how spending growth in medicare, social security, driving the deficit, and will have to be looked at and reduced. it is a small, little incentive when you're talking about also,

a year or two down the road, having to make big cuts to the programs that provide dependent care. i don't think that plays well. guest: i think what what we have seen with the botched -- with what we have seen with a botched attempt to repair -- repeal the formal care act, i don't think it will be entitlement form -- reforms anytime soon. i think we need to make changes sooner rather than later, but the changes can be made more incrementally, gradually, so american families can prepare for that environment. there seems to be no appetite on capitol hill, as we have seen with his recent budget. the president has said he will not touch medicare or shall security. that is where the big dollars. they make up 40% of the budget. those programs will continue to drive spending and the dead, and that will likely mean pressure to raise taxes against in the future. host: let me get back to articles and hear from barbara in the nation's capital. independent line. caller: yes, good morning, everybody. i love your discussion.

people withis congress are always talking about families. i happen to be single living here in washington, so my question is what is going to be the impact on the single taxpayer who makes below $50,000? what promise have corporations made that they are going to bring back these -- come back to be based here in the united states, wherever they go? what promises have they made that is going to back up this part of the deal -- bill? host: stan collender? guest: individuals making under $50,000 will not do as well as others in this tax bill we have seen so far. there is no promise a corporation can make that will provide a guarantee that you are looking for. a significant part of u.s. corporations are owned by foreign investors. a lot of the benefit will go to

them. a lot of the workers that will be hired will go overseas. each corporation will do something different depending on their own situation, and the question i have to keep asking and would like to ask you is with unemployment at 4.2%, where will they find the workers? guest: the reason we have so -- such low unemployment is we have some rain workers not looking for work anymore. have labor force participation rates that are historically low, and it does not have to do with the aging of our population, but with people having joined the social security debility -- disability program. can be split by people leaving the labor force altogether and that is particularly true for many rural areas in the country. i was in kentucky, which has the second-highest disability incidents in the nation with almost 12% of the population of the disability program. when there are more opportunities, some of these workers might actually decide to go back to work once they can see the benefits from this with higher wages, and that is where

the corporate rate comes in. that will drive up wages for workers, and drive more workers into the workforce. guest: but in the face of increased need for workers over the last several years, operations have refused to increase wages -- what nexus think they will increase workers that's wages for americans rather than putting -- what makes us think they will increase wages? guest: they will not have a choice with the amount of decisions with full expensing being available. that will make workers more productive. many of the wage gains were eaten up by health care -- mandatory benefits, where the cost has gone up. what businesses look at is not the worker's cash wages. they looked at the entire compensation package, and so much of that compensation has been enough by rising health care costs. that is a probably to fix as well. guest: demand for workers, yes, but not necessarily u.s. workers.

they can be hiring people, the same as apple does, and others, to build their iphones. the same thing could be happening with every other industry. guest: the multinational corporations, apple, etc., do not care as much about the corporate rate cut. it is smaller corporations based in the united states that do because apple already has ways to funnel income into other nations like ireland. we had congressional issue -- hearings about this. we are less concerned about the big corporations. i can figure out how to lower the overall tax burden. we are more concerned about middle and smaller organizations that will do more business. host: the nickel back to the budget discussion -- apc published for heritage last week. a pieceto what is -- you published for heritage quest week. titus into the discussion. we had a question on twitter that asked about this. how many lineups -- what percentage of the budget was determined using baseline budgeting method? what were you getting that in

your article, and your answer to jim on twitter? guest: yes. have a bias in the current budget that assumes that when entitlement programs run out of funds congress will find the money somewhere, and assumes that those programs will continue to be spending at the projected rate, but when it comes to taxes that are projected to expire, congress assumes we will just let them expire, and the baseline assumes a big rate reduction -- a big revenue reduction. with the baseline assumptions do is say, ok, we have about $500 billion in expire in revenue provisions. we will assume congress will extend them again as they have been time and time again, so you get a more accurate baseline. that accounts for about 500 billion in the revenue reduction . the additional $1 trillion was carried over from the house repeal which assumes the

of the affordable care act, and thereby repealing all of those taxes as well, which amounts to about $1 trillion. the senate budget now has the $1.5 trillion at space in order to allow tax reform to happen. that makes tax reform certainly a lot easier. i would have also like to have seen spending cuts in the house budget -- the $200 billion in mandatory spending reductions. i think they were a good start. we need to go further. i've even called for an expenditure limit that allows them to control spending as a share of the economy because that is really what we need to do. spending in the long run is growing a lot faster than the economy. texas is what we take out of the economy. we cannot keep pace -- taxes is what we keep taking out of the country we cannot keep pace in the long run. tax cuts are a small portion. the bigger issue is growing and spending. host: stan collender. guest: first of all, you use the

word gimmick, so i'll repeat what you said -- the gimmick is congress enacted the tax cuts on a short-term basis. they assumed they would go out of existence just so they could, on a gimmick basis, they could look like the deficit is smaller. now they want to assume, even though there are laws that go after businesses, they will make the deficit look smaller. they are trying to get both sides of the same coin -- the mirror image and the original image, and take advantage of lowering the budget twice -- deficit twice. if they wanted to get these provisions, and not them permanently. host: when the congressional budget office scores something like this, do they point that out? guest: cbo would never go into that political of a discussion. cbo is as close to a political unit as you can get, but i can certainly say that. host: let's hear from danny on the democrats line.

caller: thanks for finally thinking about me. i would just like to ask this lady here, what guarantee do you have if the corporations get this tax cut now, and they will be able to write off investments in machinery, what makes you think the machinery they put in won't be robots? i work for a company and i've seen this happen. 1900 peoplebout working there. they brought in enough robots, that they have about 700 working there now, and robots do not pay taxes whatsoever. and ring in the money back overseas from overseas, all they overseas,nd buy -- all they do is buy stock in their company. host: thank you for waited. romina boccia. guest: we know 70% of corporate

taxes are borne by workers. that is from economic research over the past decade. we have a paper out at the heritage foundation that describes that research. like northm examples dakota, where they cut their state corporate rate, they have grown in incredible ways. north carolina is another example that has been very successful. germany -- i'm originally from germany, if you detected an accent -- corporate to aincreases have led deduction in wages for workers. many corporations are multinational, and u.s. corporations get bought up for tax reasons. we want to avoid that and prevent some of that. now, it is true that many workers have been displaced by automation, but we also don't have good systems in place to allow workers to adopt to the new economy. this is one of the reasons the

president has shown support for apprenticeship programs that is being -- that are being tested out in various states and is primarily driven by those states. i think that can be promising because instead of our higher education system that doesn't necessarily train americans for the jobs that exist today, apprenticeships are like more intense internships that get you into that workplace, working with those machines. no doubt we will see more automation in the long run, and it also makes our economy more productive. we need to find a place for the workers that have been displaced, but they also need to gain new skills, and apprenticeships can make that happen. host: stan collender. guest: denny, i'm sorry you're going through this. robot automation is inevitable, and romina said earlier, we need to increase productivity, and that means essentially replacing workers and doing things in a more productive way. a lot of us -- i am going to

include budget analysts and public relation analysts like myself and romina -- a lot of us will be replaced, and the world will be changing, and i don't know the tax system is going to be able to stop that from happening. host: we go to hear from huntington, west virginia. pat on the independent line. caller: good morning, bill. i would like to address most of my questions to the young lady. first of all, i would like to talk about a couple of things. she mentions the 401k and mortgage benefit they are talking about -- those are false flags, folks. those are thrown out there so people can get alarmed, and when they decide they are not going to place these in the tax package overall, everybody draws a sigh of relief, then they go ahead and dutifully let the rich have their huge tax break, ok? and get their tax package through. but -- as far as -- the young lady said something about only

70% of the taxes being paid by the upper class, but that is federal income tax. bk a lot oflike local taxes, a lot of property taxes, a lot of -- like me pay a lot of local taxes, property taxes, food taxes, and gasoline taxes that go back into the federal budget as well, and those are a huge percentage of our income as compared to the rich's income tax. also, she mentions that the real estate business tends to get a subsidy from the mortgage tax break, and that is true, but when she agreed that if that is then -- and her group likes to fight the minimum wage and other things like that -- i know that because i watch closely. mortgageagreed that a interest rate tax deduction gives real estate, kind of, a

tax break, and also low wages, and reducing benefits paid to workers gives corporations and the rich and powerful that run them and get paid by them -- that is, in effect, a tax break for them as well -- these low wages. there, will let you go pet or a lot there. a few minutes if you want to hit on a couple of those, and we will hear from stan as well. guest: yes, many of those other taxes borne by lower and middle income people -- the payroll tax being a big one, state and local taxes, gas taxes -- they are not part of the current discussion, and i think that is true. i think the payroll tax should be part of the discussion. it is consuming over 50% of the wages earned by american workers -- 15% of the wages earned by american workers, and some of that comes back few in the form of the earned income tax credit, for example.

nevertheless, those taxes are too high, and if we don't reform social security and medicare, those taxes could be a lot higher in the future. for social security, by the period with trust fund will be exhausted, which is currently projected for 2034 -- if we don't reform social security before then, the payroll tax that was just increased across the board, would have to go from over 12% to 60%, a one-third increase. increase.one-third i do believe if we get business tax reforms through, it will drive up wages for workers, and it will not be up to the corporations not to do so, because they will feel that pressure in order to get those workers, they will have to raise their wages. we have seen that in canada, germany, and in other places. i know it is hard to believe because the corporate tax --

that is what it is called. it is the corporate tax. it should really be called a tax on american workers because that is who actually ends up paying. want youn collender, i -- to ask about his allegation that available brief a sigh of relief on 401(k)s, state and local tax deductions, allowing bigger tax cuts on rich individual. guest: there is no doubt there is some political misdirection -- congress, the white house, the gang of 6 -- whoever you want to talk about, would try to get you to focus on the small part of this, and when they add it back, everyone, as his arm and said, will breathe a sigh of relief. two things -- yes, we could design this much better so it is a tax cut on lower and middle income workers. that is number one. two number, i have to -- number two, i have to disagree vehemently with the characterization that romina

made that this is a spending problem. we made a commitment with social security and medicaid going back to the 1930's with social security, and to the 1960's with medicare and medicaid -- we have to make a decision about whether we want to keep that, and if so, revenue is going to have to rise to pay for it, or spending is going to have to rise. we cannot do it all the same time, otherwise the commitment is worthless and i happen to believe the commitment is worth something. host: we will let you have the last word on that. stan collender, professor at georgetown, and also romina boccia. a lot more to talk about this as a tax reform gets underway, and at the end of the year, the spending discussion as well. thanks to both of you for being here. guest: thank you. continue to talk about the economy -- the dow continues to rise, setting records, climbing to the 23,000 mark. farzad onalk to roben

full disclosure on how long the rally might last, and if president trump can take credit for that. more coming up today on "washington journal." ♪ ," --is week on "q&a andhey were shoving jostling. i was a little bit behind the target and it looked like he would fall to the ground. at the time, he was 74 years old. i did what any decent human being would do when you see a 74-year-old man on the verge of falling, i grabbed him by the arm. -- i do not know how many -- but i was fearful of being separated from them and

being left behind. when i took his arm, that is when it turned on me. somebody pulled my hair, but he slammed me. >> the discussion of the filing violent protests on campus last month. today on c-span's "q&a." >> c-span, where history unfolds daily. was created as a public service by american television companies. it is brought to you today by your cable or satellite provider. "washington journal" continues. host: roben farzad is the host full disclosure and a correspondent on the economy. here to talk about the weekend wall street and rise of the

stock market and the impact of the trump administration and the week ahead, what we expect will be an announcement on the new fed chair, welcome to "washington journal." guest: and the meaning of life. host: the dow jones hitting 23,000 for the first time in the president tweets regularly about his satisfaction with that and his role is the administration's role in that. tie them together. the efforts that the , howistration has made much does it lead to this rise in the stock market? guest: they call it the opposite of meltdown, mount up m. -- melt up. president trump. his has more to do with our reserve,anks, federal

and people being smoked out of safety and government security and the risk taking appetite. on the margin, people are salivating at the prospect of extraordinary dividends and a big tax cut with companies back home and gifting it out in 2018, but no one is taking investment helps on that. host: we were talking the last hour about the tax reform proposal and in particular, one of the elements in the possibility of changes to the 401(k) plan with the real retirement boom happening with the baby boomers. possibility ofis there a dangern andthe withdrawal of funds the market going down because of the retirement happening in the scope of the next 10 years or 15 years? guest: we do not see that as a concern right now. there is a complacency that that

really cannot happen. popular use in the workforce and there is a concern that baby boomers will cash out of the market. when everybody piles into an asset class, the yields are lower, they are content with smaller yields and it forces them into stocks. then you ask yourself about foreigners coming into the market and the federal reserve buying assets. we are in a position now where if you take up a recent cover of the economist, every aspect around the planet is highly valued. i have a box of garbage pail kids nobody has been willing to take off my hands. host: the doll? guest: the cards from 1986. i was funded to offload those -- i have wanted to offload those, but you talk about real estate,

copper, bitcoin, and no stone has been unturned in this asset boom. ast: as you watch the market a professional, what are the key signs you keep track of that say, this is how i take temperature of the market? guest: things about complacency, the volatility reading is still at abnormal lows. between our president or another head of state, certain people invoking or whispering the 25th amendment, this is a massive or potential hit to the market. no chairwoman is going to be invited back and nominated, but sanguine, imain think largely in the posttraumatic stress disorder of 2008. so much money has blown into this market and unemployment

back below 5% and they can't not hike aggressively because inflation is it there. what other options do you have? back in the day, my dad, we came to the united states in the late 1970's, early 1980's and you would go there and they would be double digits and they would give you a toaster, sponges and you would put them in water, and now you walk into a bank and it is like they are doing you a favor to talk to you. thanks do not need your zero yields and cache anymore. people are waiting for some return to normalcy with interest rates and we have not had that. host: we are talking to roben farzad of npr and special correspondent on the economy. we would like to hear your thoughts on wall street and the coming choice this week of the federal reserve chair. here is how to be part of the conversation. republicans call (202)-748-8001. democrats, (202)-748-8000.

and independents and others, (202)-748-8002. reports thes week president before he leaves for his asia trip will name a new fed chair or rename the current one, janet yellen. who are the other strong candidates you think you may pick? guest: really it is janet yellen stock has been up again. when you have something going great and from is not a critic of monetary policy at this point, he has so many other targets, why mess with something when the job is not over? she still has to get the economy to some sort of great normalcy. so to the extent he is taking credit for this asset boom, and everything being sanguine in the economy and joblessness in the market, i have never seen him be in inflation hawk or someone

with beef with the federal reserve. it was more he is targeting hillary and barack obama and their policies and obamacare. i am not convinced he will necessarily reinvent the wheel. that said, there are people on the hill looking to push them towards a more hawkish economy, some worried about the deficit in the country and inflation targeting and maybe think we need a more holistic federal reserve that is not just concerned with employment versus inflation. saying that written two of the candidates that not all the regulators are created equal, he writes. it might not be quite as tough on the big banks as yelling would be. would is not as though he gut the post crisis rules, not when he avoided them himself.

host: that is from the "washington post." andcandidates, john taylor jay powell. guest: you put it perfectly, powell would be a change for the status quo. you would get a different face and trump for the sake of saying i have put my thumb print on that. taylor would be more of a nod to inflation hawks and that could be a market moving event. it is looked at as an outlier possibility.

a lot of the things that have happened in the past year or two, even with brexit, those outliers have become normal. host: we will hear from dave in northport, new york. good morning. caller: good morning. i have two questions. the first, i want to ask about the interest rates. averagen europe, the rate on junk is lower than the .aa rated 10 year treasury interest rates are cluster of money, the cluster capital, a sickly interest rates, so interest rates are centrally planned by the central banks. the in the capitalist system if you are manipulating the price of capital? also, separate issue, rick, they

were talking about tax reform. understand, corporations are pretty flush with cash right now but they are buying up their shares, a lot of share buybacks, so what are the odds that they cut the taxes for corporations and they don't just spend it on tax revenue? guest: those are good questions. if you think about the true competition for money and interest rates as a reflection of dead capital markets, there is a valid point. for the longest time, the federal reserve in the united and 2008, the007 bank of japan, england, all of them have had thought thumbs on the scale trying to bring this near-death experience to put it back in the rearview mirror as

soon as possible. you wonder, what if the fed did not take rates to zero in 2008? emergencyere was an and we let the chips fall where they were going to fall? gm goblessness, let bankrupt, and let housing collapse and entire excerpts disappear, and those who have the foresight were the ones who are bidding assets up afterwards. there is a true competition out rates. i think there are a lot of neoclassical conservative economists saying that should be the reality. why bring multitrillion dollar distortions into the market? it is really dangerous. the u.s. fed has only been around for so long doing this and interest rates are cheap tool, but on top of interested, the federal reserve right trillions of dollars of government debt and mortgage debt, and that forced people into junk bonds and other things that could yield more and then

stocks. this is a huge concern and the unwinding has not finished yet. on the question of cash, especially u.s. and multinational tech firms, microsoft, apple, they had a chunk of change overseas waiting for the government to provide a tax holiday. much of their free cash flow has share buybacks and that has been frustrating. you hope in a full recovery they would invest in human capital and the idea is they will bring it back in a special one-time dividend and in my preferred dividends over buybacks. there is a lot of arcana in finance 101 over which works better for investors. host: on twitter on interest rates, this one says -- it is a strange world in which a bankrupt country, the u.s., can borrow while printing money at national optical rates. steve is next in ohio and independent line. caller: thanks for taking my

call. valueock market and its going up over $5 trillion has everything to do with donald j. trump because the people who created that are the people who voted for hillary clinton, and they did not send their money if they did not believe everything he is trying to do with his agenda israel. number two, if we look at history, calvin coolidge, jfk, ronald reagan, george w. bush, when you cut the interest rate, and historically this happens, the more you cut them, the rising tide lives on both, which jfk says and what happened was the percentage of revenue increased. tax revenues increased and went up on that top 10% that pays taxes and their percentage went up on a percentage basis and

absolute dollar basis and it was dramatic. even jfk said when he first did it that he knew more than any economist that worked for him about what incentivizes the economy and that once we get through transition from going from high tax rates to low tax rates, it will pay for itself cropverything else is host:. just to follow-up on steve's comments on the president, one of his tweets, stock market with another high templar, up since election day. i have to be fair, that is from last week. fake news does not spend much time on this, but we are spending half an hour talking about the stock market, the economy, and what did you hear from our caller? guest: i was thinking about how donald trump -- think back to the election and his years as a property mogul and the limousine going up and down fifth avenue. this is not an equity or stock

market person. many of the trump assets have been wiped out in bankruptcy. as as dashed his prowess market ceo is questionable. he has licensed the name and made his number on -- money on properties and branding. not so much equity valuations. i believe tim o'brien, i had him on my show, someone did a story on how he took the money from his inheritance and had to put it in and s&p 500 fund and reinvested over the years, he thanave a higher net worth now. just steering that money into property nears, grand central station, so a lot of logical fallacy going on. of course, if the market is up 5000 points since election day, of course you take credit. a lot of that has been the psychological lift of people

getting stoked about a fat tax cut. host: here is st. louis, linda, democrat line. caller: thank you for taking my call. there is a lot of talk about upward income and middle income with interest rates, but they never discuss with the can do for lower income. when we are at that height tax rate, look, tree bring home. at a certain point in your life, you should have a healthier savings or whatever. when you approach retirement, you do not have all these stocks and stuck to invest in. why is it they do not do anything for the lower income people? i don't understand that. it is a really difficult question now. by and large, you want to serve the constituency that put you there. there was some numbers crushed by the new york times recently in the op-ed section and i open it up for broader numbers,

brookings numbers, think tech numbers, wall street numbers, the benefits do accrue to high onese earners, the susceptible to the highest marginal rate, those who are invested in the markets you can get extraordinary dividends in the cache comes home -- cash comes home. the middle class could get a small bump out of this. i did not see the lower income earners discussed in that, so a lot of people on the hill would say, by and large, because they are not paying taxes in that terms. there has not been that much of the discussion in the earned income tax credit or the things that help people struggling to make ends meet. or to feel some sort of infusion. host: i thought it did you the other day that said 52% of americans are invested in the

throughrket, whether stocks, mutual funds, or retirement plans. how does a person like our theer benefit from this and climbing boom going on? s not invested in the market, will they see economic benefit from it? guest: it is one of those timeless questions and you almost want to take it to mr. miyagi for a stage on top of the hill, stock market near 25,000, isn't that great? someone will start saying the dow will break 25,000 today. a psychological lift. in reality, the companies were feeling their stock prices were high, there would be investing in labor. unemployment they tell us is below 5% now. great ans are so animal spirits are so great, you cannot resist their rich to hire people to capture more revenue.

intoxcess cash has gone stock buybacks, rationalizing buyer shoots after the 2008-2009, of reinvesting in lower -- a lot of companies who have issued twenty-year debt, 30 year debt at attractive rates, and even though unemployment is back down below "the natural level of unemployment," they have not overwhelmingly fired up the assembly lines. a lot of that structural -- is structural. you do not need workers for that same task. workers have not been retrained quickly enough. companies complain there still mismatch and they would hire it if they could. the stock market is only in indicator. it is great to see people on the floor of the new york stock exchange but a lot of times, it is reflecting other things going on, not just here economic

activity. host: let's hear from rachel in tennessee on the republican line. yes, i know it has been quite a bubble of the stock market, but on a geopolitical washington chess game going on with china and --sia forming y auan forming a yuan-ruble trade to bypass the dollar, basically they are buying u.s. bonds and financing the u.s. military adventurism going on across the world. i see a danger in a global because the dollar is in danger, so i am wondering,

that is where i am concerned because we saw this in world war finance,r as a global and always leads to this, so what do you see as far as -- all more is more provocations, let's sanction this and that, and to try to hold onto that global control of currency as opposed to trying to work with the other bigger powers to reduce tension instead of having a zero-sum game. guest: good question. there is a whole -- parallel diplomacy going on between the united states and china, particularly in economic activity entered. if china were to fall hard, the

united states would feel it. there is a reason why they take andof their excess cash hoard u.s. dollars, by treasury securities. they are subsidizing the u.s. consumer, which is critical to them. it is not a stable consumption culture. the economy has been overwhelmingly planned centrally. it has had hiccups. i think i saw a staffed and i once,bill gates tweeted in three years in the 2000's, cement ined out more 's construction projects the united states in the 20th century. it is mind blowing, so it keeps having to shovel metaphorically called in to this machine. that is something that prevents -- gosh, if there is something

going on between d.c. and pyongyang and it threatens going to united states into a panic, of course china is going to be concerned. all political speak aside, the brazilians, the russians have talked about the currency becoming increasingly an international reserve currency standard and that hasn't happened. host: we will hear from christopher in alpine, texas. republican line. caller: good morning. i would like to suggest the uptick in the stock market and gdp is related to two things. the first is reduction of regulations and the second is that we have had an anti-business administration and now we have a pro-business administration. companies that had hunkered down for eight years are much more optimistic. guest: i would also encourage you to look at the stock markets returns under barack obama.

he raised his right hand and took office in the market was cratering and hit a generational low, two months into his first term as president, but that is the luck of him assuming office in the throes of the financial crisis. at the market data have spectacular run under barack obama. he was better than ronald reagan's performance. the president is a standardbearer, it obviously means a lot, but in this case, it was the federal reserve, global fascination, things way out of the executive branch' has control that propped up all assets. host: back to the fed chair choice expected this week from president trump, a tweet from fred that says dr. ron paul as the chairman, why do we allow private bankers to create u.s. dollars and except the debt? any

chance the president would choose an outsider and other downsides to doing this? guest: he has the likes of gary cohen, steve mnuchin, former goldman sachs people. in full disclosure, i started my career at goldman lifetimes ago. i was an awful employee, so i can say this. he is being advised by wall street and people internally are telling them, the treasury secretaries, the chief economic economicher, -- adviser, you are potentially dealing with a stock market crash. it is not like putting the mooch in there and having to backtrack six days later. this is the federal reserve. the most powerful banker in the world. host: joe in miami, florida. independent line. go ahead. caller: you mentioned china.

this has been going on for months and has not made a dent. there is still a breathable. it really is all about amazon, isn't it? nasdaq, market, the amazon 14% on one company and on earnings, that is a rearview mirror to what happened last month unless corridor, but no relation to what could happen next quarter. yet, all this irrational exuberance on one stock. and then you mentioned the skills gap and it really is a low wage gap. we have a deflationary cycle. isdefinitely -- and the fed worried about inflation. it kept interest rates so low. they have created irrational exuberance again. this is fed created. only have the chinese buying our

debt because what else are they going to do with the money? they cannot build anymore. they are at a standstill. they have to cut back on what they are doing. they cannot breathe. irrationalear exuberance, i believe it was federal --hat the former federal reserve chair in the that. march 2000.eaked in a lot of time can pass. you see all sorts of research on wall street not. gosh, the markets are historically overvalued and you see it by several standard deviations. what do you do? the market can be overvalued for a long time, psychological reasons, and there is a lot of hammering on wall street, is there such an excess of mobile savings and cash that maybe it is time to invoke new paradigm

thinking and you can afford to be overvalued at 20 times earnings? that it is not the true medium to look at anymore? amazon is a critical story. the fact you have jeff bezos, i think he became the wealthiest man on the planet. host: based on his stock valuation. guest: they bought cold foods, there is talk they will be disrupting pharmacies at this point. everybody looks at him the way they used to look at steve jobs and elon musk of tesla, he american innovative spirit and whatever amazon touches, all competitors should be terrified. his amazon a retailer? web services firm? he has an unusual reality distortion because wall street believes in what he is doing. electric,er, general which used to be the barometer for the american economy and

businesses, is struggling right now. for a market to be at an all-time high and ge at a multiyear low, the stock has done nothing in 15 years or 16 years. so many people are used to thinking of ge as its own stock market and conglomerate. that is a broken story. it is illustrative it is decoupled from the market. the market is not concerned ge is in crisis now. they are looking at amazon, coin, google, tesla, the software, there is a lot of enthusiasm within the market. i do not know if it is irrational exuberance yet. host: one more call. james in new hampshire. good morning. go ahead. i would like to share a

few things with listeners. storm clouds -- stormc loudsgathering.com is a good website for oil. i know we probably need a whole new show for this segment, but how is the dollar traded out of and i really in new hampshire, which is heavily taxed on the homeowner. we do not have a state income tax. now, you pay your mortgage off and your property tax or higher than your mortgage. so it is like, now it goes through the whole process. host: a couple of questions as we wrap up with roben farzad. guest: the mighty dollar, the standard global reserve currency. it is accepted everywhere. and theyit into iran

will accept it from you, and there were parts of the demise that were exaggerated. everybody thought it was the end, the final stand for the dollar after 2008 and 2009. i do think it is a robust competition for dollars now and the actual level you see against the euro, china, the yen, valuets a true kind of for the dollar at some point. there are some distortions. yes, central banks play games, but overwhelmingly, this reflects the demand for our goods, services, and the security and perceived stability of the greenback. host: we want to mention your new book called "hotel scarface." what is that about? and what made you want to write about it? guest: i grew up in miami and i

found the scene what i believed the closest thing to the true story behind scarface, it was a hotel and disco, where three generations of cuban gangster competed for control of the cocaine trade. after that, scarface comes to shoot, miami vice, so i spent way too long bringing that back to life that you can find it on amazon and i will be at the miami book fair . host: and -- book fair next month. host: and c-span will be there, as well. roben farzad, host of npr's full disclosure, thanks for being here. guest: my pleasure. host: we will wrap up the program with half an hour of your phone calls. 202-748-8001 for republicans. democrats call (202)-748-8000. independents (202)-748-8002 and more at (202)-748-8002. -- independent and more at

(202)-748-8002. you are watching "washington journal." >> joining us this weekend for book tv, live at the texas book festival in austin on saturday at 11:00 a.m. eastern. include the book code ,irls, thursday night lights , the life and times of michael hixon farewell to ice, deep in the shadows, cuz, and author of life in code, a personal history of technology. on sunday, live coverage starts at 3:00 p.m. eastern with carol anderson and her book "white

rage: the unspoken truth of our racial divide," "bloodlines: the true story of the drug cartel, fbi and the battle for a horse racing dynasty," and doctors of "violated: exposing rape at baylor university amid college football sexual assault crisis." the texas book festival live saturday and sunday on c-span2's book tv. >> "washington journal" continues. host: until "newsmakers" at 10:00 eastern. (202)-748-8001 for republicans. (202)-748-8000 two democrats. and all others, (202)-748-8002. etst: untilwe would like to se t on twitter --@cspanwj. this morning, the headline in "new york times," lawmakers to revisit 9/11 law. the navy seal killed in january,

arrayed in village in yemen, another killed while accompanying somali forces and no four army soldiers dead in an ambush in niger.

host: we want to remind you c-span will be covering that hearing on monday, 5:00 p.m. eastern, the authorization of military force, live on c-span, c-span radio app and www.c-span.org. james is in wisconsin. good morning. yes, people should know regarding the kennedy files, the resolution in the senate and house can mandate release of these and they should call their congressman. they are possibly three new books coming out that basically had gone a long way towards solving this. i think the public should really

follow both of those angles, the congress and educating themselves with new research. thank you. host: thank you. this week, the cover story about what is ahead in terms of the budget debate and appropriations debate, unified control priorities, it is written that congress is approaching a new year spending debate, and with a new set of policy divides than usual. it is enough to make the term "government shutdown" once again reverberate around washington with more than a month to spare before the next funding deadline of december 8. go ahead. caller: you were talking about the corporate tax cut and all of that, and to me, it seems as inugh it will be late

america because once they cut corporate taxes, the only ones keeping the money will be the ceos. the employees will not get wage benefits out of it and also, you were talking about the entitlement what they were talking about entitlements, which i do not understand why the a call that because we earned those programs as far as medicaid and medicare. all of those programs would be ok if the politician did not intoantly did in -- dip those programs and blame us individuals. we need those. host: next in staten island, new york, good morning. caller: i am interested in the recent survey of the washington 60%, where i think around

basically said that it looks like we are returning back to and 1970's about how everything is run and tell people are doing things whatever. even in my own respect, i also think that it is almost like returning back to the 70's and we had nixon and watergate and everything was getting screwed up. it fascinates me that it seems we are returning to somewhere like that with that environment. host: he is referring to a washington post university of maryland survey, posted this morning. here is the print version. this is u.s. politics are at a dangerous low and they look across the years in terms of 1996, in terms of how proud are you in terms of the way democracy works, and 79%, 90%, and going into 2014,

6spectively, there is october survey showing 63%, so a drop of almost 10%. rosalie is next, independent line, open phones. go ahead. in connecticut, rosalie, go ahead. caller: i am interested in the stock market. not in the stock market but the fact that i am old and now and i never knew much about the stock arc it bonds but i have a few related quite a bit of cash and i cannot get any return on it at half a percent or quarter of a percent. severalking about hundred thousand dollars and the rates have not gone up since 2007.

it is too late to learn anything about stocks, bonds or anything that would give it better returns. host: do you have much money invested in the stock market? caller: no. very little because i knew little about it. i was widowed early and raised four children, so i saved a lot, so i do have several hundred thousand in cash. i am only getting light half percent. host: are you keeping it in a safe place? caller: it is in the bank. new: even with the televisions starting to come out in terms of some have higher interest rates in the last few months. caller: can we trust them? i do not know the names. there are names i have never heard of. host: thanks for calling.

texas, david on the republican line. caller: good morning. the couple of quick things. first of all, your previous guest, who i enjoyed listening to for the most part, general motors did go bankrupt. i would like to get that out there. it was a question of when it went bankrupt. as far as what i wanted to mention today, the issue about on friday we get another leak, there will be an indictment, which is coincidentally on the day that they get the approval for the fbi informant who had been trying to get permission to testify and bring the facts on the uranium one deal.

progress, theade day the democratic party admit they funded the research, which i will not call opposition research, which is the term they want to use, they have had to admit it and it was a this information campaign. as more and more comes out, the word bomb, which right now come with all the democratic talking points, the word bond for opposition research has gone big all of a sudden. once that group smaller, it watched this information grow larger as more information comes what thatthat -- fusion group is about and the people they work for, the companies they work for, the character assassination they are well known for, and as more people speak up who are suing them and trying to get the theyations back, which

besmirched globally, it will be an interesting time to watch. get our popcorn and sit back. with this uranium one thing, it dates back before the 2009-2010. details in 2005, with trips president clinton made, with his canadian friend to cap extent, and i do not remember the details of that today but the story starts back then as far as how the pieces started sliding into place but they made it so that the russians or nuclear agency rose up -- i cannot remember the names -- was able to buy the uranium one company and then make a bid for the uranium. host: that is david in texas. let's hear from rachel on the independent line in texas. go ahead. caller: i want to talk about the johnson amendment that trump past with his executive order.

our you still there? host: go ahead. lobby, churches now can money, and pushes they one -- push who they want, and trump wrote that in. he said now he had the next election in the bag. churches raising money for politicians, that is crazy. and another thing, i am 62 years old. never in my life have i heard somebody's last name as trump. where did the name originate from? in annk, here is james arbor, michigan. go ahead, independent line. caller: i wanted to make a statement about these tax breaks going to the rich. they can put them in foreign bank accounts, and the middle

class and working poor, which are 90% of the population, do most of the spending in the u.s. because they cannot save. if you want to stimulate the economy, you give it to lower and middle classes. also, there is no stipulation on the tax break money that the wealthy create jobs here. they will hand them taxpayer money and put it in foreign bank accounts and it could be a race to the bottom because it china could raise their rates the next day to 10% or 5%, so where does it stop? if countries can state lowering their rates, -- can keep lowering their rates, eventually you have no government, just rich corporations running everything. it is a race to the bottom unless there are stipulations on these tax cuts, but the middle population,f the

those are the people that are going to do it. if you give all this money to the top percentage of people, which is a few thousand, compared to 150 million working poor or middle class, you will not get the spending. host: we talked about tax reform earlier with our guests and comments on twitter about that. we will add to what our previous caller talked about, corporate taxes. this wednesday will tax cuts doubled the financial markets and the to another crash? every citizen who wanted a job with a degree guided a job -- got a job if they wanted a job. in the reagan and obama recovery was that the way it occurred. trickle-down versus fed zero rates, the later method created fiat money. obama care premiums will be up, the democrats on the, but we will repeal, replace and have

rate health care soon after tax cuts. in bolton, mississippi, wayne. that morning. you are on-air. go ahead. one more time from mississippi, are you there? paul inill hear from new bedford, massachusetts, independent line. and i amy name is paul totally against abortion. i used to be a democrat not anymore. republicans are against abortion. also, [indiscernible] i am totally against abortion. thank you. you know what? host: thank you. reminder to turn down your television or radio when you call in. (202)-748-8001 for republicans. (202)-748-8000 democrats.

.ndependents, (202)-748-8002 "new york times" this morning about the women's convention in detroit. nearly everyone here at the story about where they were in january the day after president trump was inaugurated. some pack into the streets of washington into a defined administration and what it would mean for women.

that is from "the new york times." to valerie next in florida on a democrat line. good morning. caller: good morning. i would like to give my a host.nts to you as in the first time in a long time, i tuned in to "washington journal," right did not feel furious and feel like turning it off. you brought c-span2 the standards where it used to be, where you discuss issues and the viewers are educated about that -- i forget

her name -- the last one you had in the last segment, romina boccia was excellent, and i was extremely impressed by her. i hope you continue with the programming along these lines. host: thank you. mary next in north carolina. republican line. caller: hello? host: go ahead. caller: ok. there was a lady who called in a minute ago, and she wanted to know where the name trump came from. i would like to tell her it is in the new testament and she really should read the whole testament. it says trump. i would also like to tell the viewers when god says all my people, he loves everybody and once everybody to come to him, but he tells you in the bible me, men who want to kill

went to kill you. if they hit me, they hate you, but all my people means everybody who believes interest. in mind he says he tells us to go out into the nation and teach and preach. it does not say that all the nations come to you. that is our job in christ. t-1. host: mike is in rockford, illinois. caller: good morning. a good hustle is when you know you have not been hustled. i think after watching c-span last week, people called in talking about the shadow government and the budget. i question that and started wondering about something that has been going on, like the

presidents, what they're talking about by being invaded by 20 million illegals, and corporations overseas, could that the due to the shadow government question mark and who couldey question mark that be to everybody's credit being opened up? and then the floodgates flooded houston? on and on and on. i am asking c-span, can you show us this shadow government and talk about this lack budget? thanks. host: next from dorothy in massachusetts under independent line. make sure you mute your television and go ahead with the comments. -- er: host: dorothy, are you there? i think we lost her. we will go to pennsylvania. wade, dorothy, sorry about that.

i apologize for that. dennis, go ahead. caller: good morning. thanks for taking my call. i would like to comment on the lady who was on earlier from the heritage foundation talking about the republicans opposed tax cut. over and over and over breaking up the need to cut social security, medicare, medicaid. that is what this whole tax deal is about because in a year or so, when they had trillion dollar deficits, that is exactly what they will bring up, that we have no money and that is the program we will have to cut. she is probably knocking down a wage that the average american cannot even imagine, so she has no worries about some day trying to retire on what is a major

social security right now, so that is my comment this morning. i would also like to say that have a nice day. host: you, too, dennis. president trump tweeting about health care, perhaps inspired by this story this morning politico. confusion clouds, open enrollments, with republicans eager to dismantle obamacare. it weakens markets practically. independent line to robert in arizona. good morning. morning, sir. i would like to say in my opinion, the worst thing that has happened to democracy could have been the parties, democrats, republicans. they care more about their party vendor constituents. i would like to encourage people to find out more about candidates, especially independent ones, and vote for

the people and quit voting for these parties who really don't have the best interest at heart. host: headline from "the new york times," secretary mattis wraps up his overseas trip, north korea accelerating war, jim mattis says. he accused north korea of accelerating the threat of nuclear war to a series of ballistic muscle tests, wrapping up a visit to school, serves as a precursor to a visit by president trump. their behaviord as threatening and said the united states would do everything in its power to protect its allies in the region. the president the parts friday for a 12 date overseas trip. joseph is in new york on our democrat line. go ahead. caller: thank you particular call. i was listening to your early program and there were good points, but as far as the

corporations, once they get tax breaks in the market, the driven wages, ily higher wonder -- i doubt that will happen with unions at an all-time low and no leverage and expectation of salaries going down for the last 20 years, what is the real possibility of that coming into play? host: one more call, joseph in illinois and independent line. hello? host: joseph, go ahead. mute your television and go ahead. quick comment here. caller: ok, i live in illinois. taxese one of the highest in real estate in the nation.

i do not know what you come up with new jersey and california, and we had a state income tax comparable to any other state that we have one thing no other states have, the wealthiest politicians in the union. [laughter] i can prove it because we had to put up governors in jail simultaneously at the same time because of money. downis going to trickle and one more thing, illinois is one of the most corrupt states in the union and obama came from illinois. host: joseph in illinois, thanks for your call and all the calls this morning. journal"washington tomorrow morning at 7:00 a.m. eastern. we are joined by kim stern, former national public radio ceo and author of a new book "republican like me." also, a look at wall street and

the trump administration with eher, and a look at your 401(k), our viewer money segment. douglas fisher, the retirement policy director at the american retirement association, starting at 7:00 a.m. eastern on "washington >>'s look at our schedule on c-span. newsmakersw, it is with newly elected naacp president derrick johnson on the