. you don't want to miss a moment of "making money." 9:00 a.m. i'm hosting opening bell, lot to talk about, i'll go through the data we talked about. leave you in the ever capable hands of the man himself, lou dobbs. this is fox business. lou: good evening, everybody. the republican controlled 114th congress and u.s. senate sworn into service today. president obama didn't even wait for results of the speaker's election to start issuing veto threats, a bipartisan senate bill to authorize the construction of the keystone pipeline has enough cosponsors to break a filibuster and has the support of nearly 70% of the american public. but the white house not budging and acting quickly. press secretary josh earnest confirmed president obama will ignore the will of the people, a true bipartisan congressional compromise and he will veto the

bill if it's passed. >> the fact is the legislation is not altogether different than legislation introduced in the last congress. and you will recall we put out a statement administration position that the president would have vetoed the bill had it passed the previous congress. the president wouldn't sign it either. lou: ernest also confirming that congressional effort to define a full-time work week as 40 hours would be met with a presidential veto. just two hours later the president was claiming he was ready to work with congress. >> i'm very much looking forward to working with it. already have a chance to say happy new year to him and confident that there are going to be areas where we disagree, and there will be some pitch battles. but i'm confident that there are enormous areas of potential agreement that we'll deliver for the american people and we

have to make sure that we focus on those areas where we can make progress together. lou: doesn't sound promising, does it? president obama's comments came moments after john boehner was re-elected elected to his third term as speaker of the house. boehner was able to overcome a rebellion within his own party to keep the gavel. 25 members of the republican caucus voted for someone other than boehner, falling four votes shy of a second ballot. something that hasn't happened in nearly a century. after accepting the gavel for another term, boehner was appreciative and somewhat weepy. >> i want to thank my family -- [ applause ] >> i was doing pretty good on the walk over here from my ceremonial office until i ran into devin nunez's three little

girls. my three biggest fans, one of them came over and gave me a kiss and i was a mess. lou: but a charming mess we'll say. that taking up how the republicans plan to approach president obama who seems ready to reject just about everything they put in front of them unless it's something he dictates. talking with republican policy committee chairman senator john barrasso and triple digit sell-off on wall street. the dow jones industrials down nearly 500 points over the past two days. the sell-off comes as crude oil prices collapse dropping below $48 a barrel for the first time in nearly six years. investors losing 700 billion dollars in the first two trading sessions of this week on paper. we begin with the latest obama administration veto threats and what we can expect from the 114th congress. joining us tonight is senator john barrasso of wyoming, member of several important

committees including energy and natural resources, environment and public works and the foreign policy committee chairman, senator, great to have you with us, and here we go. >> thanks, lou. lou: already the president saying he's going to veto keystone and the 40 hour work week. what's going to be the republican response to this threat? >> you know lou, this is bipartisan legislation. these are pieces of legislation that republicans and democrats both think are very important. we have 60 co-sponsors in the senate for the keystone xl pipeline. we have people all across the country who say it's time to restore the 40 hour work week. you hear it from school districts, you hear it from communities, you hear it from states because so many people had take-home pay cut as a result of the way the president's health care law is written. republicans are here ready to govern, and we are going to put

on the president's desk legislation that has bipartisan support in congress as well as extensive support across the country and the president's going to have to decide whether he's going to side with the american worker and improving our economy or with his extreme supporters. lou: do you really expect the president to change both his values his approach and philosophy and ideology in the seventh year of presidency when he resisted such over the course of the first six years? >> the president gets to decide if he wants to be just a go it alone president. i believe he ought to be listening to the voters. he said his policies were on the ballot, and they were and they were rejected across the country. today we swore in new republican senators. we gained nine seats in the republican senate. we are focused on jobs the economy, debt spending

affordable health care, if the president doesn't want to focus on the things that the american public wants him to decide on, well, that's going to be for him to decide we are going to do what the voters around the country told us to do on election days, which was work together we have republicans and democrats working together cosponsoring the legislation that the go to the president. lou: a couple of things, if i may, senator. first of all, the president must surely rue the day that he said his policies were on the ballots that repudiated the very policies, and the republican party talking about the middle class and those who aspire to it suddenly working men and women as small business. is this a lasting marked change of direction and rhetoric on the part of the republican party? >> we're going to continue to work on things we talked about during the election, which is getting the senate back to

work, folk using on jobs the economy, debt and spending. the president has to decide if he's going to be a willing partner or not. invited the leadership of congress to the white house next tuesday. lou, i'll be part of those meetings, and we're going to have that discussion at that time, and my hope is on behalf of the american people that the president comes to his senses and works with us to do the things that the american people wants us to do in terms of having a healthy economy, a prosperous nation as opposed to to the president sticking to the extreme positions. lou: and a lot of the success of those discussions, if there is to be success at that meeting with the republican leadership will surely be influenced by not only that bipartisan legislation that the republican leadership is advancing in both the house and the senate whether it's keystone or the 40 hour work week, but rather that bipartisan support translates

to the capacity to override a veto. does that bipartisan support which you are obviously proud, does it translate to the number of votes required. two-thirds of the votes of the bodies to override a veto? >> there are two parts of that lou, one is once that piece of legislation is on the president's desk he will have to make a decision at that time. he can say what he wants to try to avoid having bipartisan legislation appear on his desk. you know the last years under harry reid he would tell harry reid not to bring it up for a vote. you have that component. if the president does veto members of the house and senate have to decide whether they want to side with the men and women, hard working men and women of the country or side with the president's extremist views, that's what it's going to come down to. lou: and your judgment a return to the regular rules of order, are we going to see the republican house, the republican senate do business

in the way in which americans generally prosper that is with rules of regular order, openness transparency for all of the american people to watch our legislative process? >> we are absolutely going to have an open process in the senate with amendments with debate, with votes on amendments. harry reid has essentially shut down the amendment process the last two years in the senate. i think there were a total of about last year and a half, a total of about 20 votes on over 2,000 amendments that were introduced. those days are over. the senate is now going to be actively debating amendments, voting on those amendments. some of the votes are set up in ways to embarrass one side or the other, but there are going to be votes on amendments. >> how about hearings? public hearings? are the republicans going have public hearings in which the public is actually listened to and the focus of those public hearings, unlike what we've

been witnessing for the past number of years? >> yes, not just the hearings but also debates in the committee, votes on committee bills with amendments. when bills get voted out of committee with bipartisan support, those are the ones to get to the senate floor and the president's desk. we need in the senate 60 votes to pass this legislation, so we have 54 republicans but need to find willing partners on the other side of the aisle, whether it's keystone the 40 hour work week, the employer mandate part of health care law, eliminating the medical device tax, all require 60 votes. lou: a lot of uphill work ahead of you. 60 votes, your base on those pieces of legislation, and additional 7 to override the promised vetoes. senator, it is always good to see you, wish you well. congratulations on the beginning of the republican

leadership of both the house and the senate. thanks for being with us. senator john barrasso. >> thanks lou. lou: and the president meeting with mexico's president at the white house. among the topics they discussed, the president's new policies toward cuba and his granting through executive fiat of amnesty to 5 million illegal immigrants, many mexican citizens. on immigration, are you ready for this? the president actually claimed he will be tough or the issue of border security. >> we are going to provide a mechanism so that families are not separated who have been here for a long time but we're also going to be much more aggressive at the border in ensuring that people come through the system legally. lou: it turns out president obama's so-called opening to cuba may be nothing more than political farce. he claimed three weeks ago that

53 cuban political prisoners would be freed as part of his historic deal attempting to follow relations with cuba. so far none of that has happened. human rights group reports that cuba actually detained a record high number of political dissidents last year nearly 9,000. 2,000 more than in 2013. how's that going? well coming up here later we're talking with billionaire media mogul and real estate magnate mort zuckerman who interviewed then-president fidel castro. up next reverend al sharpton at it again. ready to dial up more racial rhetoric and the politics of exploitation as two new york police department officers were laid to rest and two more were shot overnight. juan williams joins me next.

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. lou: new york police have arrested three suspects in the shooting of two off-duty new york city police officers. the officers had just ended their shift last night when they heard a 911 call that a yemeni-owned grocery in the

bronx had been robbed. the police searched for and spotted the suspects outside a nearby chinese restaurant. surveillance video, which is what you're looking at now shows a gunman in the restaurant opening fire after being confronted. he wounded the officers in that exchange of gunfire. as the officers were recovering at a bronx hospital tonight. reverend al sharpton's action network is planning to resumets over the deadly force used on black civilians by police. joining us columnist for the hill, juan williams, great to see you and happy new year. reverend al he's got quite a sense of timing, just as new york has two of its finest and two officers were shot trying to protect the lives and property of a yemeni restaurant. i mean what in the world is he thinking? do you have any idea? >> you know, lou, this is a puzzle to me.

i look at the path of the prologue, and happy new year to you. the path is al sharpton is a guy out for a buck. you look back from tawana brawley to the fact he owes millions to the tax folks to the phony demonstrations he faced. this is a guy who was fbi informant. bucks on the table there. has to be a deal here. when the issue with sony came up al sharpton jumped on it why? i think money! he could go out and say you have to do business with me, he did business with pepsi-cola. lou: she picked up the phones and called reverend al sharpton! she might have called kim jong-un! what kind of nonsense is that? >> i think the folks set themselves up for extortion. they think we can buy silence

because she had said some stupid things racial things she's going to buy silence from the black community by co-opting and paying al sharpton. when you ask me this question i look at what happened with the police in new york and the idea he wants to resume complaining and protesting at this moment is not serving the best interest of the city, of the people of no, of the black community, let's be explicit here. he's serving his interests. lou: who in the world is keeping al sharpton in business, how in the world can the leaders of the black community, and i'm not always comfortable with the expression, i would like to see a community in this city of new york, i would prefer that. i think it would be a beginning toward intelligent communication and living far better in this city. reverend al sharpton he is a figment of his own genius and

imagination, because what he's doing, as the "new york post" reported, just a few days ago, he has built a career on holding up corporate america! you know who are just filled with the bravest hearts in all the land to begin with. [ laughter ] >> lou your sense of humor is sharp in the new year. let me just say mr. sarcasm is a situation where a lot of big corporations think the easy way to deal with minorities in this country and the growing number of minorities week have voice not only in terms of protests but the marketplace is that you get al sharpton and he will quiet everybody down, the loudest voice in the room. lou: is that why obama hired him? put him in place as the liaison. buy al sharpton? >> i'm always in the political mind. what i see is he has bought al sharpton as his guy, he totally

owns al sharpton. he has given him access to the white house and the rest and says any time i have a problem with the black community, i put al sharpton out front and i'm covered. he's sick of jesse jackson, he knew jackson from chicago. didn't find jackson supportive. he's cut off jackson and lifted up al sharpton which is again so insulting to the black community. lou: the president, understandably, was not too thrilled with the jesse jackson's, if you will, miming various gestures. all of that is understandable. what isn't understandable is why anyone would complain as mayor de blasio did that new york's finest turned their backs by the thousands on him at a funeral for officer liu. i mean this is -- with that

connection between the president, the attorney general, al sharpton and mayor bill de blasio who campaigned against law enforcement, why in the world should they not turn their backs on this mayor juan? >> i think there has to be a civilian chain of command and you got to respect leadership. >> the heck you do! you have to respect people who respect you. you have to demand, i would think, if you're putting your life on the line i sure as hell would demand respect for what i would be doing. wouldn't you, if you were in that role? >> if i'm in the military i understand there is leadership and i understand their platform so the policemen to issue their complaints. lou: not an abstraction. this mayor went after those men and women who serve this city in uniform and protect the lives of this mayor and everyone else in the city. how can you justify rationalize that kind of disrespect and

hostility on the part of the man who presumes to lead a city? >> well, look i think there are legitimate complaints by the police against mayor de blasio. i don't happen to think that people who are in the position of wearing that most honored uniform, new york's finest the blues, i don't think they should show disrespect to civilian leadership. lou: do you think for one moment, that any law enforcement officer, no matter what sacrifices his or her right to express their contempt for someone who holds them in such disdain and who has denigrated them? >> not at all. i'm saying they can't do it. i don't think it's appropriate. they can do it. i don't think it's appropriate to do it while you're in the uniform, and i especially don't think it was appropriate at that funeral. let's honor, let's remember what the men who sacrificed who died honorably. lou: let's begin juan with, a man who insulted an entire

police department and his name is bill de blasio. it begins with him and he's either going to be the problem or he's going to be the solution by a pretext of good manners on the part of a police department that is new york's finest after all. >> we see the slowdown. that worries me lou. i agree with you. lou: i hope where it goes we get a mayor who understands he's got responsibilities broader than his own ideology. juan williams always good to see you. >> thank you, lou. lou: time for a look at online poll results -- be sure to vote in our poll tonight, do you believe the nypd has any reason to trust either the obama administration or the new york city mayor's office? cast your vote at loudobbs.com. twenty-first century fox smashing the worldwide box office record after movies

raked in $5.5 billion last year. 400 million more than the previous record set by paramount in 2011. among fox esbiggest massive hit, xmen and dawn of the planet of the apes which grossed three quarters of a billion dollars apiece. up next speaker boehner celebrates the 114th u.s. congress, more tears of joy. the american people may have more reasons to celebrate than the newly minted three term speaker. we'll tell you why. that's coming up.

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. lou: a few comments on some of the reasons to celebrate the arrival of the 114th congress earlier today speaker boehner was moved to tears as you've seen tonight, before house minority leader nancy pelosi presented him with the gavel for a third time. can you imagine how she feels,

and he's the one crying. granted it doesn't take much for boehner to turn on the water works. there is considerable cause for tears of joy. republicans now at least talking about the needs of our middle class and those who aspire to it. >> we'll begin our work on this common ground taking up measures to develop north american energy, restore the environments of middle class workers and help businesses hire more of our veterans and invite the president to support and sign the bipartisan initiatives into law. it will be a good start and more. lou: and the 114th congress more diverse, a record 104 women will be serving in the new congress up from 100 in the 113th. six are republican senators the largest number ever among the women making history, 30-year-old elise stefanic the youngest to be elected to the house of representatives.

joni ernst, the first woman in iowa's congressional delegation serving in the senate. and mia love the first black woman to receive a republican seat in congress. overall serving 18%. representing hispanics marco rubio, ted cruz, robert menendez asia america, senator hirono of hawaii. senator tim scott of south carolina, the first black senator elected from the south since reconstruction. former republican senator edward brook of massachusetts holding the distinction of being of first african-american to be elected to the senate. brook passed away saturday at the age of 95. i'm sure he was proud of his party and the most diverse congress of history who took their seats today. our quotation of the evening. this from bulgarian thinker and political scientist ivan

krastev -- we are coming right back. president obama made a big deal out of opening up cuba to america. now, he's asking the president of mexico for help. billionaire publisher and real estate magnate mort zuckerman joins us with how hard it is to deal with the castros. he's next. why's that? look what daddy's got... ahhhhhhhhhh!!!!! growth you can count on from the bank where no branches equals great rates.

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do you support the president's opening with cuba. >> i do we have had many years of trying to clamp down on cuba, it hasn't accomplished very much. there is a point where cuba is going to evolve much more quickly than in the past which is not been quick, and that's the best way to change the dynamic between cuba and the united states. lou: yet now comes word that the president needs the help of the president of mexico in order to proceed. i mean the idea the ludicrous image of the president of the united states requiring the assistance of the president of mexico to advance u.s. policy in cuba. it is mind-boggling, is it not? >> no i don't think so. look mexico obviously has a major relationship with cuba. we have a major relationship

with mexico, we're trying to calm things down in that part of the world. i don't see a problem in lifting the support of the mexican president, they obviously also have influence on cuba. lou: well the reason i question it, they've not been particularly helpful in the war on drugs. mexico remain the principal source of methamphetamine, cocaine and heroin in the country. could it have been more sense to ask the president for help in stopping that? >> without question. i don't think the two are incompatible. lou: i don't either. >> i think we should find ways to pressure mexico on those issues, very seriously, i think it's very damaging to the united states. but this doesn't mean that we can't where we might have traction with them, enlist their support in something that is in our interest. lou: i think the idea of opening relations with cuba would make sense if there were

conditions for the relationship. just as we have conditions for canada or the rest of the hemisphere and the world. >> right. lou: this president didn't require a condition, he is a man of regenerosity. i admire it in all forms i don't when it's the president of the united states and he has a more specific duty. >> i think frankly, i don't know how much time we have. if you got me started on the fallacies and the shortcomings of the president of the united states -- lou: no, no limiting this narrowly to the venture in cuba. >> this is the part of the problem that we have. it doesn't mean some of the policies in the right -- aren't in the right direction. way they execute a lot of the policies. lou: i fear in this instance, that is so often the case with the president who is willful, who is almost to the point of being whimsical. he has decided somehow there are no constraints on his power, and that he is not

required by tradition by values of the constitution to persuade to communicate or build consensus before creating a policy initiative. for example, why would he not bring in the cuban-american community? why would he not talk with leaders of congress, republicans and democrats, speak to the american people. this is a half century of policy and the man said suddenly scrawls his name on a piece of paper or not and decides he has the capacity to do so. it's mindless. >> astonishing way to govern. this is not leadership, this is his own particular style how he wants to work. that's why he's lost so much support in the congress and in the american public. if you look at his approval rating, it's down to around 40%. and so, he's digging a deeper and deeper hole. generally speaking, that's who he is, we have to live and work with him, as you know we both

had on occasion, been quite critical of his administration. >> i remember you, but not me, sir? >> [ laughter ] it's astonishing to watch the way that administration works. and it's really too bad. because this country, the way our government works, we need the right leadership from the presidency, and we are not having it. he has no relations with the congress that the "new york times" had the best line he's the first community organizer and said it doesn't like people. lou: it's true, apparently. i'm not saying that some of those people are particularly likable. at least one you think we could find among the few. mort, we like you a lot. >> thank you very much. i'm always having a good time when i'm here. lou: mort zuckerman, thanks. good to see you. up next a crushing blow dealt to vladimir putin's imperialistic visions.

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joining us tonight to talk about the impact on our enemies, our rivals is fox news strategic analyst lieutenant colonel ralph peters. happy new year. >> hi lou. lou: crude oil prices are making a genius of those who said sanctions would work, crushing russia and iran. >> no, they're not. they're hurting iran and russia badly. it is temporarily derailed putin's plans. lou, president obama is going to live to regret that victory lap on putin on mpr. putin is going to be in charge of russians the russian czar long after president obama is going to work with golf courses without borders and left offices. it will take two to three years of low oil prices to really really totally derail putin's

strategic vision. the one thing people don't understand here is that russians expect life to be lousy. americans expect things to get better. russians, when things are good, they don't expect it to last. they're just tougher, and so putin's popularity remains high. above all, he's got a propaganda machine that is just incredible. russian people hear very little free media. they just get told to the cia behind the fascist ukraine, et cetera. lou: as you know colonel, the reality is what happens outside is what is important and the way in which we interact with russia is critical and with iran. this is a man who has today absolute control of crimea annexed part of russia a fait accompli. mischief and insurgency in

sustaining in ukraine. we have no idea, if you don't believe the prices have crushed him, and his ambitions then what should we expect in the reality of his threats with iran and the process with syria? >> no, he's not helping us any with him. but unlike any of our presidents recently vladimir putin has a long-term, decades long strategic vision. i can pretty much tell you what he's going to do next i think. i think in the next round of talks about eastern ukraine. and crimea is off the table it's gone nobody talks about it anymore. lou: i do, i do. >> to your credit, to your credit. but he -- putin is going to give us a few fake sessions on eastern ukraine, and the europeans, the french are going to jump on that. because they want to do

business. horrible to hear president olan of france saying president doesn't want nato, or armys on borders, putin is crossing borders with armies. lou: it is always a pleasure to have you here, sometimes sobering but great to hear from you. >> thank you. lou: up next, a convicted pedophile friend of president clinton and prince andrew receives only 15 months in prison. the fbi linking him to 40 underaged girls. mercedes colwin on how all of this happened and why? next. foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500 its yield is doing a lot better...

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lou: billionaire convicted pedophile jeffrey epstein's little black book of a listers politicians and, of course, members of the royal family revealed and could explain how epstein received only 13 months in prison and a plea deal joining us to assess the legal implications and the likelihood of what happened for fox news, fox news analyst mercedes. it's great to have you both here. happy new y >> happy new year. lou: how in the heck does a man convicted of pedophilia sex trading and sex slaves get only

13 months. >> the sentence is 18. he only served 13. exactly right. before that, this is why the women are filing this suit. we want that plea agreement. we want him charged with federal crimes. the feds were looking at him, the us attorney's office was looking at him he and four other employees as a sex ring of not just these women, but other women and other people coming in. lou: why is it taking so long to get to this point? this is a six-year process. they crushed the media and other law enforcement agencies from getting a hold of the facts. >> isn't there cha-ching in the background. lou: there usually is, but it's a code that we use here. ka-ching. >> exactly. that's what it is. the backdrop of it all everyone says if you're a billionaire you can get away with it.

frankly, look at the others who have been involved with sex crimes they serve years in prison. this man served months and given good behavior. >> who represented him professor alan dershowitz, who is named by the two attorneys. two of these attorneys, one is a former federal judge. another is a very highly respected lawyer in florida. these aren't ambulance chasing attorneys -- lou: good for him to know. because he'll give them both his -- >> like he'll be able to do that. look if they bring this type of allegation, unless there's complete falsehood, and frankly a lot of lawyers will lie on what -- lou: what about baba? what about prince andrew? what about the list of celebrities and people in power in and what

appears to be some obvious opportunities for trading influence in public policy as well as in terms of business. >> former president clinton obviously socialized with him. flew on his private jet. of course, if there's going to be any influence or back channel communication it will be someone like this who has this type of power. >> to be fair, prince andrew is only named by jane doe three. lou: one or two or three. >> exactly. only one person has said he's involved in this. lou: how many does it take? >> well, it takes just one. that's it. lou: when you're looking at a case when every name has been submerged and concealed and the public's right to know here has been overwhelmed by a us attorney who authored the deal or at least approved it, and his name is alexander acosta under

president bush and that's a violation of law because those victims are required -- is it a 2004 statute? >> that's absolutely right. lou: they have to be informed. how could they say to hell with the law? i know it's a popular thing to do on the part of civil servants. my god. >> that's why, they said we were never spoken by what's going on. you have to go in now presently in court. you have to do something about this plea agreement. >> the crime victims rights act. that's what they're alleging. we were not consulted under that act and that's a violation of law. you need to then kick out the old plea agreement and bring that back into federal court. lou: is it even remotely plausible that a us attorney would be unaware of that statute? >> no. i don't think so. >> i don't think so. lou: so they were talking about another charge as well. and that is against us attorneys and members of his office --

>> right. lou: -- who just flagrantly violated the law. is that correct. >> that's the issue. if there's an abuse of process or in indescreks, the courts can step in y not. >> want just one guy. lou: and a lot of enablers around. all right. lisa, as always thank you. mercedes, thank you. hope your knee is much better. >> thank you. i'll be in crutches next time you see me. lou: mercedes, surgery for a torn acl, skiing. >> but she's a champ. >> i'll be coming back. in crutches. lou: we will be sympathetic throughout the process. thank you. have a great one. wrapping it up, mention of the president's warning to the republicans. mr. obama vowing to veto

the keystone pipeline. therethereby affirming he will be without question the president of no or will it be the president who will no everything? not quite in mind when we put him in office, is it. the no everything process. to contend we're in for quite a two years i suspect. let's turn to the inbox. a lot of reaction about the uniforms of the oregon duck that they'll war wearwear. i merely said i didn't like the uniforms. i prefer the bright green and yellow to threads that look similar to ohio state colors. >> oregon will be a blur no matter the color of the uniform. you're so right, chuck. jeremy, this is a nike dream. expecting a clash of the uniforms and raking in the money. and the oregon smuk

tweeted, they could dress like batman for all i care as long as they win. go ducks. good on you lou. thanks for being with us. neil: think things are chilly outside the capitol? there's down right frosty inside the capitol. the record number of republicans giving john boehner the cold shoulder. not enough to make him speaker, but enough to make him think. just because john boehner shook off the rebellion on the right doesn't mean he's loved by everyone on the right. six out of ten regular republican voters just don't want him as speaker at all. they didn't get their wish. their fear is he's too mooshy and moderate and too interested in settling with democrats and not taking the fight to democrats. a former house speaker on how this one rallies