stuart: that's emanuel acho, i wonder if he'll be back next week. it is the second week of "varney & co.," our extended show. we had a great time. my time is up, though. neil cavuto up next, now. neil: those three hours slide by, stuart. great show again. this is "cavuto: coast-to-coast." we have so much going ospeaker john boehner trying to rescue a trade deal that up until the last couple of days it wasn't a sure thing but a doable thing, it looked like it was going to happen. now called in question. boehner having trouble rounding up the votes to overwhelmingly republican support these pieces of trade legislation. we get to the details in just a second. the problem seems with democrats and the president trying to wrestle his way to get enough support from them. for the first time in five years he popped up on capitol hill today to personally

jawbone for those votes. and nancy pelosi with whom he was walking there is not a fan of the legislation herself, tipping her hand which way she is going to go. they've got a rebellion on the left and that is roiling stocks at the corner of broad. we're going to get to it in just a moment. take a peek at the dow, down 147 1/2 points. the part of the rational of the sell-off is an irrational rejection to trade deals that up to now look like a done deal. it was going to be a fight, they were expected to be a done deal. it is looking dicey now. who'd have thunk? our fox news capitol hill senior producer knows the nooks and crannies not only of the legislation but where people stand, it's looking diesy, what's the latest? >> house speaker john boehner walked into go to the floor. steve scalise, the republican

whip, i asked where things stood, they were absolutely mum. the best signal that you don't have the votes is when the president of the united states comes up to the capitol. he's been up here on other occasions but hasn't been here to persuade people since 2010 when they were passing the final version of health care. if you had the votes you wouldn't need the president to come up to capitol hill with meet with democrats in a closed-door session. it was very significant after the meeting steve israel, a top lieutenant for the minority leader nancy pelosi, democrat from new york, thought the president moved votes. i asked israel was it enough? he said it's unclear. i said what did the president say in the closed door caucus, he said there were no talk points. he was authentic, passionate and you could tell from the body language he was making movements. and what we're going to have in a couple of minutes, this is a two-step process. first up is trade adjustment assistance, this is near and dear to democrats, it helps

people in businesses and get affected in an adverse way by trade pacs. if that does not pass you never get to the actual framework, the so-called tpa, the trade promotion authority that the president wants. kevin mccarthy said we're not going to do that. you have a weird dynamic who democrats like taa because they're all about that but at the end of the day, they don't want to pass the underlying trade pact here. they're going to vote against taa to short circuit the entire process, that is remarkable and remarkable if they can't do this particularly after a meeting with the president of the united states. neil: so the president needs about 20 democrats to go along with him, right? and supposedly got 200 republicans in favor of granting him the authority to do the upor down deals that congress would vote yea or nay for. >> right. neil: but he's got to wrestle

the democratic votes. where does that stand right now? >> well, again, i think that the republicans feel a little better about the second vote. they think they can get around the 200--vote threshold and if you get 20, 25 extra democrats after this, they'll be in good shape. taa vote, the first vote in the series, in about 45-50 minutes here, that could cut off the entire process. we were told before the meeting, there might only be 120, 130 democrats to vote for this, and you might only have 50 to 70 republicans. that leaves them well short. i've been told in the past ten minutes that number might be growing, and if the democrats get to the 140 to 150 range, perhaps the republicans can get to the 70 range or something like that. then they're in business. but the democrats are definitely going to carry the freight on the upcoming first vote or all bets are off. neil: chad pergram, thank you

very much. suffice it to say that the trade adjustment assistance are something a lot of democrats are pushing for, we need protection and in case this deal with asian countries or others is damaging to us. republicans heard about this and said wait a minute, wait a minute, wait a minute, free trade is free trade, we can't carve out special allowances for businesses, republicans are saying all right, if this is what it takes to get a trade authority deal done, it will lead to a trade deal to asia done. so be it. we are not happy. ure seeing the sausage being made, it is sloppy and ugly, and depending on your point of view, especially if you are vegetarian, maybe it's repulsive. the markets are not liking what they're seeing. this again had been looking like a very good possibility even a probability, it was going to be hard fought and gained. is this a black swan aberrant

event? who knows? there are other factors affecting stocks. and connell mcshane is watching this. i wonder if this falls through because it wasn't anticipated, then what? >> that's what happens in financial markets when we start to make assumptions as you know, and they don't happen, you set yourself up for what markets don't like, they don't like a surprise. in this case, when you have a democratic president working with the republican votes, you're right, a lot of people did make assumptions leading up to this, those on wall street maybe not so much in washington that the president would come up with the votes to pass it. if it does, as chad suggests, the possibilities there, die before it begins, then what happens to markets? we don't know. the selling off today is nervousness and anxiety from the trade deal? yes, maybe, it's fair and important to point out there are other factors, for example, talk to investors and many tell you the worries about a greek deal are more important than a trade deal here in the u.s.,

and thes say in the long-term, when is the fed raising interest rates? that is a type of thing in the next six months that's going to drive stocks. that said, we don't like surprises when we watch markets and this could be mildly surprising if it goes down. neil: connell, the imf walked away from the talk, we're not going to deal with, this and maybe it's also theater, but how big a deal is that, if it looks like something that was also a given that we would have some strike of a financial deal falls through? >> i think most of the morning and reading through comments and looking at what investors were saying, that's what we're pinning it on. the moves on a daily basis, not longer-term basis, you get the moves, 100 or 200 points, didn't necessarily mean the bigger picture has changed. day to day, the great thing is big globally for people.

neil: thank you, connell mcshane. year to date we're about flat on all the major averages, daily soap opera, intra-day soap opera, not with standing. want toy sho you the unusual nature of today's events for the president of the united states to go to the other end of pennsylvania avenue and beg his own party for votes. and all he needs is about 20 democrats to go along with him, and he's having a tough time. and he's got 188 points to rangel and he's mustering, i need 20 of you to be with me. and the lady walking next to him nancy pelosi is not a given. what does it is a about the presidency and what happens in the last 18 months of the presidency. congresswoman rene, thank you for joining us. how do you think it's going to go, congresswoman? >> hard to say, as you point out, the president was here on the hill, and he met with the democratic caucus up to about

11:45 this morning, he is a very persuasive man, i hope he was able to garner the votes. the question is are the democrats going to stand with the president, commander in chief or embarrass him on the public stage? neil: now, republicans also had to do a little crow eating to get a deal done i guess, i don't mean to put it so drastic, but democrats wanted to carve out some of the businesses that thought they would be harmed by trade deals, but republicans seem, i don't know how you feel about this, congresswoman, to accept this trade assistance authority, that would essentially help the businesses, many of them unions, who might be hurt by a trade deal. just to go to the next level and get a vote on giving the president authority and ultimately a vote on the asian trade deal. without getting caught in the laundry, is it your sense that republicans will swallow carveouts for businesses if that's what it takes to get

this thing done? >> there will be republican votes for the taa. i myself am a no on taa. however, i just have concerns about, it but it has moved forward in the past. it was part of the senate trade bill, so this is something that has to go along with it in order for this to be successful, there will be a republican vote. neil: the trade adjustment assistance where some businesses get assurances and protections under the deal it harms certain businesses, certain sectors of the economy, something that wasn't in the north american trade agreement back in bill clinton's presidency. that is granted. no one has put a dollar sign how much that would cost, but you're saying, republicans, though you're not a fan of it, republicans hold their nose at it to get the greater good, that is a trade authority vote, right? >> i do believe there will be republican votes enough to pass taa. there again, i speak for north carolina. many of my colleagues have great concerns with trade. i believe this is a job

creator. this is about american trade being and a global leader, otherwise, we hand everything over to china. neil: thank you very much congresswoman, she talked about china. china would be among the 11 asian nations who we would be making the transpacific deal you hear talked about that. is not voted here today. it is setting up the stage to be voted on a few weeks from now. the president wants to submit final trade deal with the asian-pacific countries for a yea or nay vote. all presidents that had the authority, don't like it picked apart in the chamber and debated on ad infinitum. steve moore following this closely. if any of this were to go cab looy that bernie sanders has won. by, that i mean the far left wing, anti-business anything in the eyes of many has won and holding this president hostage and businesses hostage and

business deals hostage for the next 18 months? >> yeah, that's exactly what it signals, what is distressing to me in following the debate for the last six months is the democratic party is a wholly owned subsidiary of the afl-cio, revolving so dramatically against. this you go back to the roots of the democratic party, neil, you go back to fdr and jfk and bill clinton, they were free traders, and the democratic party was generally free trade. this is a new development. it's very disturbing, and if this president by the way, neil, can't get at least 15 or 20% of his own party to support a trade deal that gives him more authority, that speaks a lot about where the modern democratic party is today. neil: more like 10% if you think about it, with 188 democrats in the chamber, they battle on it. >> exactly. neil: and ironically to show you the irony of ironies we're in, a democratic president trying to woo just 20 members

of 188 democrats to force a deal will be constructive in the long term, and yet, overwhelmingly democrats in the house are saying no, they don't like it, so the victory for the president would be, if he musters 20 or 21 democratic votes out of 188 and the assurance he can get nancy pelosi out of it. how bad is this deal? >> for obama? neil: for the president, yeah. >> how bad? this shows he doesn't have sway with his party the way he once did. let's look to the republicans for a minute. talking about the democrats, it's pretty impressive because the republicans are under incredible pressure to vote against this, too. and john boehner has done a great job here, it looks like, let's not make predictions, looks like he's going to deliver the vast majority of the republican caucus. the democrats would bring this thing down. i've been in politics 25 years, i can't remember any instances where the president's own party, you know, is bringing

down something where the congress, which is controlled by the republicans is in favor of it. it's extraordinary, and i think it would hurt markets a lot. we have disagreements here at heritage about the deal. but i will say this, and the congresswoman said it very well, if we want to be the superpower in the world, and especially in asia, we've got to have this deal so we have trade agreements with vietnam and singapore and thailand and taiwan and countries like that, if we don't, the big winner is china. i believe that. neil: you are right about that. a great student in history to go back in time and remember presidents who rarely had the party trouble. the closest i could think of is bill clinton when trying to get the north american free trade agreement passed from his own party. we're going to get the sense of ohio governor john kasich what he makes of this, 20 minutes from now. what did he make of the fact that hillary clinton is oddly silent on the issue.

bernie sanders accused hillary clinton of copping out on the trade deal? is that a big issue? she would be between a rock and a hard place rejecting deals that were the centerpiece of her husband's administration and the boom in jobs that it created while at the same time trying to appeal to the left in her party saying the deals are just awful. that's how crazy this is getting. what lanny davis is saying about how hillary clinton should start responding, after this. when you're not confident you have complete visibility into your business, it can quickly become the only thing you think about. that's where at&t can help. with innovative solutions that connect machines and people...

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. neil: all eyes on the house of representatives and on the dow jones industrials. they are joined a little bit at hip this morning and this afternoon. right now 12:18 p.m. on the east coast of the united states, as all attention focuses on whether we are about

to get a trade deal or not. it is looking like a dicey thing here. what this is setting up the stage for is ultimately a yea or nay vote on whether the president of the united states has the power to carve out a trade deal with any given region of the earth, in this case, some asian countries he's working with, and submit it to congress wear an up-or-down vote, without adding amendments and the other features that is typically washington's way, other parties have had the unique power to submit legislation for an up-or-down votes. democrats are not keen on, this they say these deals particularly the far left of the party have been damaging not only to their party but to unions and workers in general. talk about an exodus of jobs from the factory floor, that the deals have thrown to the american people. here's the irony of the situation, folks, you have a democratic president, who's a fairly liberal guy. nothing wrong with that.

fairly liberal. who's having a devil of a time with the liberal wing of his own party who said he's abandoned them for the corporate interest and republicans, and you have republicans who have not necessariry gotten along with the president and blasted for not being cooperative or helping the president and going all out to score a trade deal here, that could be a nice addition on the president's resume. that is now being called into doubt given the closeness of this. ironically, if we get any of this approved and set the stage for a vote on a trade deal with the asian countries that is some days off, it will be because republicans made it possible working with the democratic president, not those in the president's own party, but again, it's that left wing of the party that says the president has let them down, and whatever the confusion selling first and asking questions later. as connell mcshane pointed out before exclusively because of this, but the black swan noise,

aberrant events that are not helping the situation. so a good thing or bad thing to get trade going? the read from the far left is bad. katrina pierson echoes the republican point of view that a trade deal is better than no trade deal. and moving forward on trade initiatives is better than not moving forward. that is some doubt. what do you think it means if it goes cablooy today. >> those in the union should have concerns, these are top secret measures behind closed doors with the exception of fast track. everyone knows if the president has fast track, no agreement will be stopped. the services in tsa that is guaranteeing foreign companies displacing union workers. the majority of people agree and republicans won't refuse, this neil, this is a corporate run deal. this is not the legislation

making the agreement. neil: you would actually agree in being opposed to this? >> i do agree with being opposed to it at this level -- >> you're ganging up on me, neil. neil: pigs aren't even flying, i'm sorry, nomi. >> basically what's going on here is mainstream democrats, the democratic party in unity is trying to get president obama to negotiate harder with republicans who want to pay for taa, the trade adjustment assistance by cutting medicare for the elderly. robbing the medicare piggy bank to pay for the guaranties for workers. >> you are right, in order to cobble the votes they've done this back and forth, you're right, that is what happens when these things are cobbling in the secret, that is republicans and democrats are raouxing that day. here's what i don't understand, it's always thought that the

greater good triumphs the setup of the evil or the nasty way the sausage is made. nomi, you seem to be saying no, it's not worth, it stop it, even if it embarrasses this president. we shouldn't continue it, is that it? >> right, democrats did end up siding with clinton in the 90s and passed nafta and the result is we have income inequality now. neil: not a majority, they got republicans but didn't get the majority. he did a lot better with democrats than this president did. katrina, your objections are interesting in another way, you think if you give a president like, this a lot of secret behind closed-door meetings, you open the door for more of that stuff, right? that's your worry. >> considering that's what we've seen since the president is in office, yes. neil, we must have free trade, real free trade. what's happening with this particular deal is you have 600 corporate lawyers making the rules for the entire globe and everybody knows you won't be

able to stop anything whether it's tpp or tisa, that's why john boehner is having a hard time. neil: very interesting. part of the subtext to all of this, you are hearing a lot of acronyms, two things we have to keep in mind, two key votes one is for the trade adjustment assistance which would grant special exemptions and allowances mostly to unions who fear they are hurt on the trade deal. that's a close vote. that goes the president's way, then you set up the big vote, the vote that would grant the president the authority to do up or down trade deals that not all republicans are buying but many more are democrats. one or the other gets a little rocky, those markets get a lot rocky. we're on both. more after this.

. neil: all right, you are seeing play out on capitol hill

something that could indicate the democratic party's final really jarring move to the left, if you're on the extreme left, you're happy with that, of the moderate bend you are concerned with, that if you are republican you are infuriated with that. today, if you are the president of the united states you are furious because of revolt on the extreme left of the party for trade deals it says are awful, awful, awful is causing trade legislation and this president the valuable key and authority he needs to get trade deals done in an expedited manner. bernie sanders not wasting a nanosecond talking about hillary clinton is copping out on the trade deal by not spelling out exactly where she stands and whether she would essentially respond by saying look, my husband's trade deals enacted when he was president were a mistake, is that the pressure she is under? is that the pressure hillary clinton has to address tomorrow in new york, as she rejiggers and publicly reforms her

campaign. to clinton confidant lanny davis. she can't satisfy anyone. >> i want you to know it really is me, even though i'm not dressed like a washington lawyer, i hope you forgive that. neil: any way you come is fine by me. >> first of all, i don't speak for hillary clinton, you know that, i know her thinking over many, many years, and what she is saying, i don't know what senator sanders is criticizing her for, she is saying we don't know the facts, we don't know what's in the 1,000, 2,000-page document. i think both sides are using rhetoric, and what she says is i want to know whether this treaty is going to have an adverse impact on u.s. jobs? i want to know about labor standards and environmental standards before i tell you how i would feel on the subject, and driven by facts as the hillary clinton i've known, i'm amazed that more people in your business aren't yet able to

report what's in the treaty. neil: all right, all right, if you say she needs time to read, this sounds like a bit of a cop-out to me. you are right. there are a lot of things neither party knows, the republicans who like the deal, the president who likes the deal and all the others say it makes sense in the greater good is free trade, that's something to stand by, are you saying that you have to read this before you vote on it. they didn't do that with another famous piece of legislation. >> exactly, you would think steve moore would be caught for criticizing people for passing obamacare with a thousand pages. neil: would you include the president in that, lanny? >> absolutely would. neil: he's saying this is a good deal and you've got to do it. >> i think president obama should do a better job telling democrats what's in the trade legislation is going to be fair trade, not unbalanced trade that favors products who don't

sell in this country. neil: there are carveout, the trade adjustment that the democrats insisted they will vote on first in the next 15 minutes or so that will address some of the issues, you're saying that's not enough. something is happening, i don't know what it is, for a democratic president to essentially be begging for 20 votes in the house among 188 democrats. that tells me that the matter, which already shifted left has shifted further left than even hillary clinton appreciates? >> i don't see it as left, right or center. i'm liberal and i favor free trade, i favored nafta. going back in the history of the democratic party, tariff barriers deprive people of jobs. there are millions of jobs that are there because we export our products because we're better than the customers in the foreign market. i'm in favor of free trade. we have been subject to a rigged deck on the trade barriers in the countries that were supposedly free trading with and i think all hillary clinton is saying, i'm

surprised barack obama isn't doing a better job of communicating what's in the bill that will alleviate the concerns of democrats and republicans about unfair trade. neil: we'll know hopefully in the next few minutes. lanny davis, thank you very much. the read from a guy who could be a president himself. ohio governor john kasich is being in. .

. neil: welcome back, everybody. is there such a thing as an early theme to get from intraparty fighting

particularly among democrat, it is probably. this bernie sanders is a very influential figure. he was among the earliest critics of trade deal that others in his party said would champion for workers. he has expanded a populist drive to say stop the deals, they're not helping american workers and the latest one isn't going to be helping any of you. so that effort and that extreme left read from the democratic party is winning the day, so much so, that the present democrat occupant of the white house, barack obama, had to go in a limo from the white house to capitol hill to essentially beg, cobble together, 20 democrats, just 20, that's all he needs, out of 188, who preside in the house to beg, cajole, do whatever it takes to get them to approve this authority, which would allow him to enact upor down trade votes and have congress vote on it. that is very, very much in

doubt. that is a reason among others this is happening at the corner of wall and broad. the dow off about 139 points. keeping it on the bottom of the screen to keep you posted. there is noise from greece, noise from inflation threats and people who fear that maybe that's getting to be a problem, and mortgage is back over 4%, this is what they call the black swan development few saw coming, the possibility that a trade deal doesn't get done, in the next 18 months, we're just adrift. to ohio governor john kasich what he makes of this. governor, what do you think of this? how bad, how damaging, long-term, how much does it hurt if we don't get this done? >> well, i think, neil, it's not just economic, it's a national security issue as well, where we can have access and involvement in parts of the world where it's vital. in terms of the president getting in a limo and driving, that's what presidents have to do. things start earlier, they need

to get members to build the relationships early on. if you don't have them and you're short 20 votes, you just go and you do your best. i'm going to predict, they're going to pass this thing, he'll get his 20 votes. neil: the ironeel be if republicans will have made it possible, but you mentioned that this is what presidents have to do, and i was thinking back to your day us when ran the house budget committee and ronald reagan would come up to capitol hill to cajole and twist arms and work with the democrats and boll weevils, he was big on that, he never took anything for granted. a lot of people forget that, i'm wondering did this president just assume he had it in the bag and is discovering at the last second, my gosh, i don't? >> well, i don't think so, neil, it's a tough issue and this opposition is built for it. one thing you need to realize is there's always been a wing of the conservative movement that's been suspicious of the

trade deals. this is not just one party. this has been something -- neil: we heard from them. >> look, as we look at it now, in my amming judgment, it is best for the economy. there are workers who are going to be hurt, we'll have to make sure they are retrained and there will be opportunities for them. i believe trade is a very important part of national security and to turn this deal down would be bad. i don't think at the end of the day it will be turned down. he'll eke out the votes and it will be a good thing. neil: you brought the unemployment rate down to one of the lowest in the country and a lot of it was working on deals like this to spur business, i'm wondering should you run for president -- i know that's still out there, would deals be important, the rap on deals now is they don't benefit the common man, and even the talk now after nafta is wait a minute, it wasn't worth all we gave up, what do you think? >> neil, i voted for nafta.

the thing that always bothers me and bothers a lot of people is sometimes the united states does not stand up when they see clear trade violations, and part of that is political. when people own our resources and we're counting on them militarily. we don't always have the leverage we want. i think it's very important going forward that for the american worker when we see violations, when we see people dumping on the steel industry and running our steel industry down, we got to blow the whistle. we got to make sure we're not arrogant to think we can absorb all the blows, that's not fair for workers, but i believe that open trade, free trade is good for the world, it connects us, if there's anything we want today is to be connected for people who are annihilous when they adopt the western thoughts and part of our western alliance. neil: governor, i was talking to larry sabado who gave me his

three top candidates in the republican party who have a very clear shot at the nomination, he included jeb bush, marco rubio, and what he was saying about them, and scott walker, completing the troika, is they had a -- not only the money but the connection and the personality, the temperament to go all the way. when he had to add all to that, a dark horse is someone who hasn't announced, he mentioned your name, you would be the fourth to get the nomination because of what you have done to your state and you appeal to the mainstream, that is my way of saying are you running? are you interested in running? >> i wouldn't be out here if i wasn't interested. we're getting closer and closer to making a decision. it's a discipline process, i don't want to do this for the

sake of it. i need to know i can win. what i bring is a record that's unique, i served on the defense committee, chairman of the budget committee in washington when we balanced the budget, and ohio's had a massive turnaround and i was in the private sector for ten years. no one has all of that. that's what i talk about. my resume and my record. not what i want to do but frankly the things i've done, and so we're getting closer and closer. neil: what would decide it? i like that, in case you pop up on o'reilly or something. >> i thought you were friends! >> no, that's all fake. i'm kidding. [ laughter ] >> do you sense, governor, you wouldn't have a problem with money. there are plenty of financial backers, whether they're up to the $100 million club, or 50 million that scott walker would enjoy, would you have the money at this relatively late stage to make a run? >> well, first of all, i don't

think it's that late a stage, and secondly, i don't think this is all money game. in new hampshire, i've been able to sign on the great senator john sununu, and, you know, that's a most powerful family up there, and, you know, i'm going to be going to iowa soon, but it's the early things. it's like john mccain was basically dead in the water, and he went to new hampshire and won and got on the rocket ship. there's plenty of time, you don't need all that money but you have to have adequate resources and that's what we're trying to put together and it will be part of our decision. neil: i will watch, governor, very good having you, bill o'reilly will miss out on the chat. it will be you and me first. i'll break it to him gently. >> all right, neil. neil: john kasich, the governor of the fine state of ohio. taking a look at corner of wall and broad. 151 point, a lot of different things going on. charlie gasparino on the decidedly unfriendly business

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. neil: welcome back. i'm neil cavuto. you are watching "cavuto: coast-to-coast." we are on the verge of two crucial votes, if the first one doesn't happen, we might not have two crucial votes that the president wants today, he even took to going personally to capitol hill to twist arms. he only needed to twist 20 democratic arms, he has the republicans with him on the trade deals, not so his own party. blake burman. what's the latest? >> the folks who monitor the halls say the vote could happen between 12:45 to 1:15. the time could be pushed back.

the president was here earlier this morning. one democratic lawmaker told me that democrats only got the heads-up at about 8:45 this morning that the president would be coming over. that lawmaker told me when the president spoke to members of his caucus he spoke about 45 minutes and did not take any questions. that lawmaker says the president laid out his case and was very courteous about it but told lawmakers why he feels they should advance the trade deal. still afterwards, it was a mixed bag among democrats. take a listen here. >> if anyone could have changed a mind, the president did so. he was eloquent. he showed and explained. >> there are a number of us insulted by the approach. he's saying you're not playing it straight if you use the only tool you have to stop tpa. >> reporter: one republican lawmaker i spoke to this morning, neil, i asked if he was surprised that the president stopped by this

morning, he said not only this morning but also the congressional baseball game. the president was out there yesterday as well trying to get the last-minute votes, neil? neil: thank you very much, blake, we'll be going to him on any development. but the tpa you hear talk about, the trade promotion authority, another acronym, the trade adjustment assistance which protects industries or said to protect industries, union-friendly industries would be harmed if we do the up and down trade deals. jittery time on wall street. our charlie gasparino says that, you know, he's been following this, and if this goes against the president, it's a victory for the extreme left? >> it is, there are times when the extreme right and left coalesce, join together. neil: we saw it earlier today. >> and seen it in 2008 during the first bank bailout. the left and the right said no to it, and eventually most came to approve it. this is mainly the far left.

what's interesting is that the left wing of the democratic party right now, against this trade bill. just about every republican for, it even conservatives, the left wing is further left than president obama, the community organizer, one of the more progressive politicians in the country. the new left of the democratic party is further to the left of barack obama, and that should tell some of the financial types and the business types supporting hillary clinton who think she's mouthing off rhetoric, like john mack, the morgan stanley ceo said early in the week. hillary clinton is giving this populist stuff and i'm paraphrasing. neil: which is why he's supporting her. >> a clinton moderate democrat. democratic party is not bill clinton's party. it's the democratic party of bernie sanders, of elizabeth warren, he is nominally independent but caucuses with the democrats. elizabeth warren, bill de blasio, the new york city

mayor. that is the modern democratic matter. it's so far left not even hillary can bring it down. neil: this is a very undecidedly anti-business washington. >> well, anti-business democratic party in washington. neil: we don't have trade being done at all in this environment, right? >> harder. neil: bad for wall street? >> yeah, there's other issues. neil: absolutely, absolutely. >> slow growth economy and low interest rates is generally good for the stock markets, but you know, net net it's not a good thing, the bigger problem for the economy and the wall street and the business community is if hillary clinton does win, this is the type of democratic, this is the type of politicking you're going to get, the far left, even further left than president obama wins. neil: amazing, amazing, who'd have thunk, right? charlie, thank you very much. just keep you abreast of the order of developments, first the vote on the trade adjustment assistance a carveout a lot of unions and businesses fear they are screwed by a trade deal and is

approved and it's expected to. you never know. then vote on the trade promotion authority that grant the president what other presidents enjoyed. upor down and go up or down. yea or nay. that is very much in doubt right now. more after this. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution.

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. >> we have to pass the bill so that you can find out what is in it, away from the fog of the controversy. neil: so i want you to think of this, folks, as it gets to the gist of the irony of the drama today. was a big deal to pass one of the largest pieces of legislation in american history, unread, untested, unknown, going on faith. but today opposition to a trade deal is based on -- we haven't

read, it haven't looked at it. it's important to read it first to understand what we're voting on. it didn't make a difference then. it is all the world of difference today. this is why people have a cynical view of washington and the double standard that exists for those legislation that is used and then those arguing on behalf of suddenly a very, very rowdy party to say hold the phone. it was perfectly fine then not to read it to know what was in it. now you have to read it to know whether you're going to vote on it. hypocritical. but dangerous. more after this

neil: welcome, everybody, i'm neil cavuto, you're watching coast to coast, there's a reach why we did a show like

this because of developments like this, it comes in handy, they're trying to cobble together something that would resemble a trade agreement or at least the necessary votes to allow trade agreements. this president of the united states going to capitol hill to peremptory because the republicans are overwhelming for this expanding trade while a lot of republicans are supporting and democrats are not. the first legislation we're waiting for is the so-called trade adjustment, it's the first of two, the house is going to be voting on. this would provide a cushion to those that is they would be damaged by this legislation. then if that goes well and it is approved, the next one would be that would allow the president of the authority to craft a deal, in this case one with asian nations that he's been working on for some time and then present it to congress without teaching all

sorts of particulars, the type of stuff that washington is known for. it is a big picture thing that it's going to be icy. take a look at the new york stock exchange. they've got a lot more selling going on, there's a reason for it, no. are the greenberg that are contributor to this yes. are there stats out today that seem to show the federal reserve is on pace to hike the interest rate? definitely. but this is noise that they didn't expect, and a lot of this has to do with growing concern among certainly democrats and now some republicans that, you know, this whole notion you have to find out -- to read it to find out what's in it. but be careful request it's getting to see how it's made. you might want to just save it for putting it on a bun and eating it later. it's not going to be pretty. liz macdonald has found some things about this.

>> you just hit on the trade adjustment authority, that's basically helping in the form of jobless benefits for workers who lose their jobs to any trade deal. now, what is a big sticking point in the house we're working the phones for you, neil, is how would that be paid for? estimated to cost $2 billion. part of this could be financed by get this. $700million to cuts in medicare. so this is where it gets slippery, neil, how do they pay for the things that they want in terms of helping out workers who are put out of work? the other thing that's going to be blocked too is any attempt to make climate change or immigration policy, that's something senator paul ryan has been objecting to. he's saying no way a future president or any president will be able to in fact climate change and also they're going to raise taxes for not filing a tax return. the penalty there will be raised. and they're looking to best possibility mix another move to prioritize trade relations

with israel and any other u.s. trading partner to boy doubt israel, looks like that may drop. back to you. neil: we're showing nancy, i don't want to put you on the spot. is she for or against this? i know she met the president when it millimeter came to capitol hill, but she has been very critical of some features of this trade legislation. >> yeah. according to sources in capitol hill, she's coming on board now. she was concerned in the past about she wanted climate change, that was one report. we're tracking this deal as the moves through the house. . neil: great reporting, my friend. let's will you tell know that this happened this morning, one, two, be done with it. they still haven't voted on the first item, that is this trade assistants thing that would protected and be deemed harmed. but they're finding all sorts of goodies. the recalling that worries folks to the authority to in facting trade deal and just

vote yay or neigh on it. but what are the ramifications of all of this? steve, let's say we don't get a deal done. i know john casey of ohio is saying we will. but what if we don't. >> well, there are two things here, one is trade authority, and then you have the vote itself eventually when they close the deal on this transpacific trade partnershi. neil: right? >> and so if it turns it down today, that's going to be bad because it says no matter what the deal, the as you say pulling back. the good news for china, bad news for japan, which wants to use this trade bill for opening up their own economy, saying, hey, we signed this agreement, and making more imports for elsewhere. neil: what would they do? >> what it tells the world is the u.s. is still involved. now, in terms of -- if the trade authority passes, that would be a good thing. then you could get to what are the specifics of the bill itself when did that finally

submitted in a few weeks, and it's junk, you can turn it aside. but especially when the republicans win in 2016, that president can redo a trade bill that is much better and have it get a vote in the house. neil: but the president hurt himself by surprised some of the angry he's getting within his own party, but even on me is of the republicans, because he's done so many deals in secret and so many executive orders that has kind of screwed himself on this and that's why he's in trouble because a lot of people doubt him on any of these measures because they don't believe him. >> that's right. he's lost the trust of not only republicans but democrats too. and that's why i was shuttered when he said he was going up to capitol hill. i would send him out to the golf course, he does not have that persuasion. a few weeks ago, he trashed elizabeth warren, a member of his own party. that's not how you do things. neil: well, earlier you remember this very well when ronald reagan was trying to

get the tax cuts, he tried to control the lead of the democrats at time and, you know, john casey was the house budget chief at that time, you remember that very well and the back and back and forth and all the democratic leaders, but it was important to him that he made himself a constant preserves. do you think president because he has so rarely gone to the other end of pennsylvania avenue, maybe for his own valid reasons, but the first time in five, six years, they're saying hey? what brought you here? >> now you need us. now you come to us before you've been dictating to us saying trust me. and so knopped reagan set the right thing right from the beginning. i will work with you. we'll horse trade. i'll go to 80% instead of 100%. that's how i became an effective president. this president doesn't know how to negotiate. you know, negotiating 101. so he's blundering in it. this is stuff he should have

learned in year one of his first term. neil: he might survive to fight another day. >> but, again, it's going to be the trade that's going to save him, not his own negotiating skills. neil: very good point. the point i want to pick up because when all is said and done, it won't get much attention in the press, but republicans who are always sort of maligned for being the party of know and always not working with this president. i doubt they'll get much credit for that, but be as it may, how don't think this plays out. >> well, i think you can clearly see that the power has shifted to the hill. really the republicans hold that card. they're -- you know, speaker boehner who is going to have to bring along nancy and the republicans and the pro trade republicans with the pro trade democrats. now, they have to get this to the two-way team, the. neil: majority to pass ppa. neil: do you think they will. >> you know, i think that they will by the skin of their

teeth. because i do knowledge believe that the republicans have been very aggressive in insuring that they get these votes, that they realize the important that trade plays. neil: but, you know, even you, i can't blame both sides are being skeptical, so many deals done in secret, with the most famous one of all health care. >> right. neil: and all the surprises that happened since. now we're getting, you know, indications of sort of little deal making tools that were used, like, climate change and other measures that would woo some congressman that would be good to union friendly members. >> right. neil: it is that kind of stuff that gets people pause; right? in both parties. >> well, it's not only the secret negotiations, but we're dealing with the fact that president obama for the past six years has done very little to develop that relationship in congress with the republicans. and there is word that, for

example, his legislative shop barrel even reaches out to the republicans. this is something we did not see in previous administration, and i think it has hurt the president and really has hurt the republicans trusting the president because the fact he has been such a bully. . neil: all right. thank you, mercedes very much. that will be the ultimate irony if this comes to pass and most -- most guests i've had here today think it will leak through when all said and done and the irony will be because of republicans and not because of democrats because the 20 they're looking for in the house, it's still an uphill fight and there are 188 democratic revenues here, so you can see how it's taking an affect on the market, virtually all the asian markets that would be part of this transpacific deal, this has been all front page news in their press if you go to the press in japan and elsewhere, it is front page news and if something happens, bad news in japan, so their

market could be very bad as well for these other related asian markets and a big victory for china. but most have been in the assumption it goes through. so i'll ask my buddy charles payne if it doesn't happen, it's not the end-all and be all, you'll still have the sun coming up tomorrow. but for the next 18 months, it could cast some very different light on trade period; right? >> it could cast a different light on trade, but also on -- sort of the aura if you will on the presidency in and of itself. you know, i think we speak all the time when does the president become a laying duck? this will be the final in that cough in. but to your point, it's interesting that those asian markets are reacting much more skittishly than we are even though we're down 144 points, and they say they might benefit for it.

and you've been talking about this, this is the main problem. why can't we just see what's in it this way we don't have to speculate if there's some immigration policy in there. we don't have to guess what's going on. neil: by the way, i'm told -- my producer is telling me that nancy said just that. this will be a fox first too. i mean nancy and charles payne on the first take. maybe we should check if pigs aflying. she didn't quote you by name, though. but, again, the secrecy and the discussion, that's that coming back to bite, isn't it. >> and this is the one that said pass it and then we can see what's in it. . neil: yeah, the ironies are amazing. >> they are amazing and, again, president obama pushing through something that the democrats want no part of, that the unions want no part of, and the republicans are sort of -- we like free trade, but we also want fair trade. this is going to be the deal where japan can sell more refrigerators here, can we sell more there? so, yeah, we want to open up

these markets, asia, the hottest place not world for the next 100 years, we want a piece of that action but makes that they're not lopsided. and of course go back to nasa. you know, this year i think they've announced six major auto plants in mexico and one in america. and people go all the way back to the roots of this kind of thing. so you've got some strange -- neil: in the market history and i don't want to make a bigger deal i just put it out there that we have had some famous market rallies that were disrupted by stupid trade deals or no trade deals that partly comes to mind that many say the biggest selloff in history in the last century. do you think this could be that. >> no. because that was more protectionism kind of thing as opposed to opening markets. that was closing -- closing - neil: but if we don't do this, we are being protectionist, aren't we. >> well, we are, but we're not

closing existing markets, we're just -- listen what leaves the market higher? it's a big pull the eye national, it's caterpillar, apple, they do more outside this country that are than outside, you want to make sure that they can sell their products to 41% of the global economy. neil: well, put. so we're putting in some perspective here and taking a look at where we stand a few minutes away from a vote that was supposed to happen about four, five hours ago. this sounds a lot like one of these diets i start, i'm going to start it, and then i wait and then around lunchtime i say tomorrow morning it sounds good. it's that bad. after this this allergy season,

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neil: the president just lost a key ally on this deal, nancy making it official that she is against this prayed promotion authority people's no. a key deal that would grant the president to work on trade deals, nancy sailing she wants a slow this process down, connell, it seems to me that is something i don't think the president himself counted on. >> no. i don't think so because none of us knew which way she was really going on this. she would be giving hints one way or the other but hadn't really confirmed her true intentions until literally just moments ago, and intentionally or not, she's blowing up the twitter verse right now. and she is a "no" as you say, and will be voting to slow down the fast track, so get americans a better deal and according to her own chad and his twitter act account, there was a klaus in the chamber so she didn't give in, even during this speech, it was going on and on, and she was expressing concern about certain segments of the trade

deal and then she said, no, go i'm not going to do it and apparently the chamber breaks out. neil: and this is the same chamber that the president was trying to woo. >> yes. neil: all he needed was the 20 of the 188 or so there are there, but nancy is a big "no," she's saying, look, i'm saying "no" to him. >> it's quite a development when you think about it. when the president of the united states goes there with such republican support and democratic need and then the leader of his own party just hours after that after he shows up on capitol hill, she comes out and publically rebukes his strategy and what he wanted to do here. so it's quite a day politically. i know we've been getting into the back and forth of what this means for the markets, a lot of that remains to be seen, but politically it's a fascinating day so far. neil: that is a big impairment. >> yeah. neil: something we could follow on. at least today. again, that would mean that the votes are not short deal and i guess losing nancy would certainly

be -- a big loss here because she has couched this before, but not couching it right now. and then we've got the senate jack and, jimmy, i'm listening to this and thinking of your dad and how he would have reacted to a president who would have to beg for support within his own party. you know, he's overwhelming got the support of republicans on this, but now not even his top lieutenants in the house. what do you think of that. >> well, i think it's commentary of, you know, the democrats belief in the president and this administration. and it shows that president obama i think has overreached in executive orders that he's done previously, and he hasn't been willing to work with congress and show the amount of respect that a president should and i think if he's paying the price for it and, unfortunately,

neil, as you know the country is going to pay a price for that lack of strong leadership at a time when we really need it and the economy needs it. . neil: you know, jimmy, i was talking to a republican strategist, the deal has taken over and i said what do you mean by that? and to a man it was taken to this degree. bernie sanders is one. bernie is one extreme on the party and won on this and put hillary clinton on defense. >> yeah. neil: and particularly her husband's role in prior trade deals which at the time were hard fought and the perception was they were good for the economy, but now she has to come back and rebuke those deals or, you know, say that i'm going to go and completely different direction here and she is on defense. and i think this is -- and the perception was at least from this fellow and others, similar view that the extreme liberal wing of the democratic party is calling the shots right now.

and even barack obama is being too moderate for them. >> well, look, when you just look politically, neil, you do have the extremes on the left and the right. neil: absolutely. >> who are -- they're exercising their power in ways that are important initiatives, and, you know, i really hope that the republicans are able to willing to go around chairman ryan and president obama in this situation to overcome nancy -- the former speakers, the other and go with the ta, which is really in our best interest. we believe that the president should be the leader felt free world. we believe that the president should be able to negotiate with other sovereign nations who are friendly and to create a more level playing field. we know that free trade is not perfectly fair, but as we

teach our children, life isn't fair. and competition is good, and we america, we've got to be building business relationships throughout the world, especially if we want to address many of the really urgent crisis around the world related on isis and, you know, a lot of the challenges that are out there. we need business relationships in the world, and i know that it's controversial on the left and on the right, but we need chairman ryan to bring about enough support so that this can pass. neil: chairman ryan making a closing argument for just that. we shall see whether that works or does the trick, but the big surprise in the last few minutes to jimmy's point a key lieutenant and backer of the president on almost every key piece has separated from him on this one. it is a dig doozy, when essentially join all the cohertz, main 19 or 20 to say

this isn't worth it, mr. president, and in a about a minute they're going to spell it out and whether he will be a lame duck or worse. just minutes away

neil: all right. the vote commencing now on the two key trade measures before the united states house of representatives, this was supposed to be a nonevent, just procedural we were told, something called the trade adjustment assistants and what it would mean in setting up a vote on the trade bill itself, the trade promotion authority that has been so contentionly fought on both sides. this is something democrats originally had asked for that would carve out special provisions for workers and businesses that might be damaged by such trade deals. and many said this wasn't a push by unions to be sort of unscrewed in these trade deals. republicans were not keen on

this, they didn't want special treatment, but many of them said they would hold their nose if this could mean that they could set up a vote on the trade promotion authority, and that would be the measure that would grant this president as others have enjoyed to him prior to to have trade measure and have congress vote on it without ripping it a apart. but a big blow came from demandsy who said, mr. president, it's not going to happen with me. and maybe she telegraphed it, i'm not a body language expert, but i don't feel life love going on there. maybe she tipped her hand and said sorry, big guy, not this time. i'm going to urge something as she said just a few minutes ago on the house floor where where he slow this process down and don't do anything too fast. all right, congressman who i assume already voted on this

measure, congressman, how did you vote on this one? >> no, i haven't voted yet. all right. you've got to get hopping. >> that's right. i will vote against the trade assistants authority or taa because it's nothing but a welfare program. in fact, that's why i voted against the rule, which is kind of one of those things you just don't do as a republican party, you know, team player. but i voted against it because of all the convoluted that were trying to go through to get this thing on the floor. i am going to very for tpp because i do want some transparency, i want to see this trade deal go up to 60 days shoot american people can see it, i can see it, i can go into one of the negotiating sessions, i want more transparency and the only way we're going to get it done is if we pass tpa or require the president to do so. neil: all right. so you would be for granting the president 60 days to once the tpp, the

pacific agreement. >> right. neil: the one that we're carving out with the asian countries, you want a little bit of time to look at that, which is essentially i think what nancy is saying, which, again, for the third time in this show, there are indeed pigs flying outside. that you and nancy agree. >> well, if she said that, there needs to be more transparency i do agree with that. neil: well, she said she needs more time. >> well, the tpa agreement itself, so fast this has been a dialogue for three years now, and tpa has been expired since 2011, and i think this country is going to enjoy the fruits of our labor, look, globalization is still going to go on whether or not we give the president trade authority, all those bogus of jobs going overseas and out sourcing, that's going to happen whether or not we pass this bill. but if we want to make sure that our exports make it into

their markets, we've got to go ahead and do these trade deals. but i'm going to vote against tpa -- not tpa, taa, because i think it's -- neil: well, that's the trade adjustment assistants with do you think that's a bad idea inspect. >> by the way, -- neil: i know you've got to run and vote, so i'll allow that. the feeling is that this trade adjustment assistants goes down, they're not even going to take up the trade. promotion authority. it's effectively dead today. is that right? >> that is bogus. that is not the way regular order works. in fact, i was advocating all along that we did send the senate bill that we pass a clean tp bill and then if the senate disagrees, we go to a conference committee and we work it out. that's how regular order works, and that's how the democracy works and the process should work. neil: wow. all right. i know you've got to get going and i don't want to make you late for that vote, congressman makes it clear, keep in mind the genesis of this was to protect the unions and businesses who felt they could get screwed by

a trade deal. now, a lot of republicans hated it, but they were holding their nose we were told and all right. whatever you want, we'll do that, and then we'll go to a vote given the authority all that upper down vote. and it's not going to going to happen, i'm not going to hold my nose or patients with this. it ain't happening. i'm telling you, folks. this wasn't only messy in the senate, a slam-dunk the people thought until it house. republicans are disagreeing, democrats are fighting, nancy is ignoring the president of the united states saying she's not going to do his bidding. he can't carve together, even 20 votes out of 188 democrats. whoa. mess. bad. down. more after this

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neil: all right. the presidents have good days and bad days, this could be a bad day for him, it takes a lot for this president toking from the white house to the capital to the really twist for some votes. he didn't need that many, he just essentially needed about 20 democrats to go along with him and get the trade authority that the united states senate has been already granted him to do the same in the house. but when he came in today, escorted by no less than nancy, leader in the house, he probably had a education that it was going to be tough to sell, because she had said, no, it ain't happening for me. and she got a applause when she said she wants to slow this whole process down. this could mean -- could i stress mean that we don't have

a trade deal today. and by that definition, we might not get one any time soon. the fallout from that. and charles payne. what do you think happens then? >> it's bad for the economy, this is the return if a trade deal gets done, the return of growth economics. it's a turn around, a return to the politics of growth over redistribution. hugely in favor of this deal. because it will basically not only help our exports but our imports, give it a foot hold. once the overall deal gets done in the fastest growing nations in asia, vietnam, it puts pressure on china essentially if they want to be part of this free trade area in the pacific. this is not good news. but, you know, what? republicans -- a lot of republicans don't like it. they don't trust the president to give him fast track, that kind of -- neil: you know, i'm wondering -- >> the power. neil: all those experiences,

the executive orders, the secret health care deal, you know, that added up. >> it added up, but he still had republican support. neil: why can't you. that will get very little press. >> on the other end of it, though, the less is worried about what they say, more onshore u.s. jobs, more income inequality, more couldn't in the country, far corporations able to sue americas government, of course there's that thing, and i think i heard you sauce the iabs, and they're worried about all these things and apparently they think there's some language in there that might roll back some wall street forms. so so the left, elizabeth warren yesterday and nancy today. neil: this today what you're seeing this vote you're thinking the first item, the trade adjustment was a ballot for the left to try to provide provisions for businesses, unions, that might feel they're getting screwed by these trade deals. >> something nancy and everybody else would have supported without a doubt

they're going to kill the overall business -- don't you think this is a bill political moment that we've witness witnessed in the past 10, 15 minutes, the person walks on capitol hill and tries to get it done and at the last minute -- >> this is what didn't i. first off i think the economic impact is hard to measure. neil: right? >> long term, but look at the markets, the markets are off their real lows today, so it's not like -- >> no, long term. >> not, like, wall street saying, oh, we're going to het with another recession because of this. so long term is really the economy -- the economics. neil: so you're assuming another trade deal -- >> even if it is. neil: so 18 months of nothing. >> yeah. i don't think we're going to get a recession because of this. there are a lot of other factors that will lead to recession, but it's bad long term. i think this is where the politics come in play. this is the final reputeiation of clinton -- bill clinton

side of the democratic party. it is done, it is finished, the steak has been put through the heart of what was known as the new democrats. it's over. the left controls. neil: what did she it's bernie sanders party right now. >> yeah. it's bernie, comrade, of new york city, the mayor, elizabeth warren's democratic party, it's not bill clinton. and as, you know, the former ceo that represents an establishment, you know, business community consensus about hillary that she's making all these popular recalling, saying all this popular stuff because she's trying to win the nomination. neil: she's winning -- >> she can't govern it. . neil: she's talking about in new york about all the social good and sort of restarting her campaign. >> right. neil: but she hasn't commented on this and i think she needs time to read it, digest it. [laughter] it doesn't apply to health care, but i'm just saying is she now -- this is a sign

she's got real trouble. >> absolutely. you know, it's so funny about two months ago, most 100 influential people and for elizabeth warren, guess who wrote that? hillary clinton. so it's sort of, like, charlie's point, this is elizabeth's warren party and i've always said if she decided to run, she could give hillary a run for the money. when listener someone who makes $100 million on on a speaking circuit, it's not in her course, she can go that way if she has to, they'll do whatever it take to get elected. >> the reason a lot of these democrats aren't coming out in favor of even voting for the initial in favor of the initial step to move ahead with the fast tram proposal is because they're looking out next year, they're in reelection, they don't want anyone to throw this in their face. everyone who is voting against this is looking in their own -- neil: they're never fans of

this, the president said got them reelected, got out the vote for him, especially in those swing states. >> but they were in favor of it before. . neil: they're the ones who led -- the. >> the tag is not supposed to wag the dog on this, you know, you know? every once in a while this happens, we saw it in 2008 where the vote both sides voted against it, but generally people fall in line, and they're not here. i will just say this. hillary clinton may well win the presidency, but she's going to have to governor govern, and this is what john mac. neil: i don't think she's a democratic nominee. >> my idea is she will, she'll probably win, but she'll govern like a liberal. >> because it's so much lack of by partisanship. neil: i don't mean to interrupt you, this looks like it's going to go down to the defeat, this is the trade adjustment measure that's opponents of trade deals that, you know, feel that it really hurts working men and women,

unions, businesses, those sort of things, it looks like it's gone down to defeat, fox new capitol hill senior producer, what do you think, chad? >> well, i tell you. they are across that threshold right now. nothing is final until they hit the gavel and announce the total. but right now they're at 243 "no" votes, and there's only about 35, 36, you know, democratic "yeses." if this was going to pass, democrats had to carry the freight on this. we were told they might get to 120 and maybe 150. they're nowhere close to this simple we're told repeat the that kevin mccarthy that if this blows up, if this fails, ther there is no more voting today. they would not go on to the tpa, which is the underline freshman workto handle there are legislation. this is a big rebeauty to the president of the united states, especially since he

came up here on been the knee and people thought that they -- you know, he might have persuaded a few people to vote "yes." it was very interesting, you know, that peter, a democrat from oregon who is against this framework, he came out after the meeting, and he said, no, i think he insulted us. gene green, who is a democrat from texas, who has voted against other trade deals he said, no, i'm still where i am. this is just not right for my district. so the power of the presidency, it does pack a lot of punch, but not on this one, and it's very telling that the president pulled out all the stops, he came you the you the out here to plead with the democratic, and it got him nowhere. neil: you might be right on this, they don't have this final, but 271 "no" votes here unless something switches and they cross over, you know -- >> i mean 271 is a lot. neil: you wouldn't be able to do it, and you're saying then that this goes down in defeat, they're going to shell any vote on the trade authority.

>> right. neil: then what do they do? what's the plan, the strategy after that? >> i've had some people tell me that this is over. you know, this was the democrats ga and if they could delivery the votes on this portion and the republicans on the other portion, there's value buyins on this. now, you could always go back and i talked to a senior house aid yesterday and i asked what was the result to that snare, and he said, well,ial put humpty dumpty back together again. and this has been so tough for people and to go back and rearrange this in some other way. now, once in a while to be fair, sometimes you have to have big votes to fail before they pass. and this one has so many different avenues, it's going to be hart to pud this back together again. neil: juan chad, i'm wondering there's going to be a lot of harming on this and what prompted this, but one thing that i hear from republicans and democrats is that the president took this for

granted, that's fine it would be close, but he figured we'll goet it. got a little nervous this morning and said i better head down to the other end of pennsylvania avenue and twist some arms, maybe that will close the deal. but that they were shocked at the dimension of rage within -- within just the democratic party. pleas with the republican support and particularly nancy turning on him. what do you think of that. >> yeah. i think it was very interesting to have different roll call votes there by nancy, the democratic -- they voted different on this. hoier was a "yes," what's going on there is a lot of internet seeing politics there, you know, heuer didn't walk into the room with the president, with nancy, with jim from south carolina, he came in a different way. and some people think maybe that was the, you know, i'm not part of this whole thing. neil: well, chad, do you think nancy told him at that point,

by the way, i'm not voting for this. what do you think happened? >> that's very possible. i mean there was a lengthy meeting between the president and the top democratic leadership in nancy's office, but went on for probably about 30 minutes before the president came downstairs to meet with them, and they've been very cagey about this, you know, trade votes are very personal, dan, who is a democrat from michigan, you can imagine how he feels about trade. he said, look, i didn't come here to washington to try to do somebody else's bidding, to try to, you know, pass their agenda. and all these votes if you go back to nafta, these things are usually pretty tough because how they impact the district. it's a very personal vote, and these are very personal votes when they come to trade. neil: all right. and it looks i stress looks not official yet, that this has gone down to defeat and failed. >> it would take a hercules

effort to go up to pass. neil: i'm going to take a leap and say it's not happening, and i'm an expert because i read a prompter as you know. but i think charlie, you got it right, i don't think it's necessarily the be all, end all defining point in the world, but it is an inflection point, something got into about what the president and what it means and this looks like it's gotten down to defeat -- >> it's an inflection point for the business community to know that the democratic party now is no longer committed to business. i mean during bill clinton. >> do they have to know now? >> it's the final -- final cross. >> the limousine liberals of wherewithals still going to poor money into hillary. >> well, then they're making a big mistake because hillary clinton is going to be our next president. neil: it's official, it has gone down in defeat, but this has definitely gone down in

defeat. >> this is the last nail in the cough in. i think this is official. president obama has already i think he becomes official today. neil: well, i think the biggest loser in all of this, i think could be hillary clinton. you know, she has tried to straddle to your point about friendly business as their administration, husband's administration was, she tries to drive hard left and his actions. or she goes down in defeat. >> and i don't think we really -- neil: that's a big deal. >> and that's very bad for the country. it was good to have a time for moderate democrats, moderate to left, moderate to right running the economy. neil: and, by the way, we should stress from welfare to work and republicans and democrats were very well with each other then. >> the only advantage i think for hillary clinton to go back to maybe the earlier point and said you started to make and you said we don't think she'll be the democratic nominee. neil: i don't think she won't. >> if not then, then determine bernie sanders is not going to

be -- >> and i don't think o'malley is going to get it either. neil: other parties and heavy waits come out of the woodworks. >> a lot of these people are old. neil: you're right. but start seeing that she's vulnerable maybe some reason she's -- >> you're talking about like biden and kerry. >> you know, this is a package. you're not really voting for a person here. she's pretty ambee dextrous; right? she'll dop what she has to do to win that, and the bottom line is this. they have to be. neil: so the i think, you know -- >> do you think someone better is going to be left? . neil: . neil: the number two republican in the how is this gone to defeat, and we're monitoring it very closely, but we're going to just listen in, guys, a second. >> the third portion of the divided question is will the house concur in the manner proceeding title to of the second amendment, those in

favor say i. those opposed no. >> reported vote. >> reported vehicle code will race, and reported vote is ordered, by electronic device, this is a five-minute vote. . neil: all right, chad, if he is still with us, he is not, but a lot of this is a lot of procedural stuff here, but they have other votes where we're focusing on these, they have other things that they have to do that's just how these guys are. in about ten minutes have a late lunch. wie got things to do. >> no, but they do nothing. they do nothing. nobody gets anything done in washington. . neil: no big change in the dow was about 139 or 140 points. >> down the tarp. neil: well, absolutely. the irony with that when tiny, they scrambled back the vote, if you think about it, they revoted, they got approved, 6,000 points later. >> yeah.

neil: in the scheme of things -- >> well, this is a long term economic problem. it's not immediately -- it's hard toes how this kind of shows up in the gdp. neil: well, how does it show up? is it just noise to you? you always tell folks on your show, don't pay attention to these things, in the moment might rock socks or boost them if you like the stock, you like the company, you like what it's doing. >> it's vitally important that we have free and fair trade with these nations. asia in general is going to dwarf from the economic point of view. neil: they need us more than we need them. >> over the next 20 to 50 years, the amount of growth between china, japan, the five tigers, singapore, all of these nations dab minding boggling. we want to be able to sell them products when but also -- >> and competitors of u.s. companies now have a leg up over u.s. companies in these other nations, in these -- >> right. >> in many of these other markets. >> and the point i was going to make is if you look at the

big stocks whether it's caterpillar, apple, they sell more products out of this country now than they sell here. obviously we want stoas the grace growth out there in the world for the big company. neil: well, on that level, i think connell touched on it first. but on that level, guys, this is huge in this respect. the president of the united states repudiated by his own party in very public and embarrassing way. >> right. neil: by the leader of the democrat -- >> how about the idea that he was going to ram one more thing down our throats without us reading it? one more thing. forget about what side of the i'll you're on, what political ideology do you hear? other piece of legislation. neil: well, here's a hypocrisy, the big reason why nancy turned away from the president was we want to read this thing first. >> yeah. she used that as a crutch, and i kind of think that they had some broad idea -- they knew what was in

this bill. i will say this. economic policy from democrats now becomes far left. that's -- neil: and why didn't they -- think about this, guys. then why didn't they and they tell the president or nancy phoned the president, i hear you're coming down here. could i tell you not to waste your time because you're going to be embarrassed. >> no way. >> no, he wouldn't have gone because they don't care. they don't care anymore. he's a lame duck. >> that was charles' point. >> right. he's out next year. they're worried about themselves. neil: but surely they must sense, and this is either party when it goes too far, it risks alienating itself with the mainstream. >> you know, -- neil: there is a fear that the -- >> "the new york times" and all these places, they spend a lot of time covering the far right of the republican party or what they -- neil: like marco rubio -- >> yeah. they spend a lot of time on that crap where they, one of the biggest untold story here is the fact that the democratic party has been

hijacked by lunatics. neil: well, the lunatics or not in that politically correct fashion. but i want to go -- i want to go to chad, who is -- i tell you there's no one who knows the better than capitol hill, if he wants to take you a tour on that building, the secrets you will find out. do ask, don't tell, what is a do, what happened, what went wrong, you're the president what about do you do? >> it was a very stunning thing here to have that many "no" votes. the final vote was 2033nay to 213, and the majority leader said a few days ago that they wouldn't go to the underline trade bill. he announced on the bill at the end of this vote that they're forging ahead and they're going through that right now. and i'm going to tell you there's a big caveat to this,

this will not go to president of the united states. the house and senate are not in sync in the structure, the parliamentary structure, the way the house and the senate has done this, so this is a show vote for right now. so even though this is passing right now in the house of representatives, they're not going to send this second part to the president of the united states, and the underline framework, tpa is under trouble. neil: all right. so if you're john boehner and you've been in the press and criticized for not being covet, for not helping the president, for being mr. "no," you can come out and say, well, i tried. i had the overwhelming majority of my troops supporting this measure, supporting the trade, and we suspected it and fingers to our nose that it was not ideal, but better than nothing, he comes out of this looking pretty good, doesn't he. >> and that's the precise argument here. we're looking that there's just under 30 democratic,

yeah,s, in fact, they're closing the vote right now, it appears to have passed just as i speak here. but that's the argument here. that nancy, you know, couldn't get the votes on the taa part, and remember there were an awful lot of democrats who support taa but they weren't going to vote "yes" on this because they wanted to blow the whole thing up. neil: this is very interesting. so they did this procedural to try to rush this. >> and tactically. neil: all right. so what does that mean then? so it's a split read, but what does that split read mean? >> yeah. and that's the problem. how do you go back to the, well, are the democrats able to get some additional insurances that make them able to support the president on this? you know, you still can't change the law of fix. you have to get votes in the house of representatives and oftentimes 60 in the senate.

and if you remember this was a tough vote in the senate too and they were only able to bring the senate tpa bill across the finish line because of a last-minute deal made. neil: okay. i just just clarify, then by this quick electronic vote, which was not done, you know, as we were seeing this first vote done, this was a rush to say just mci can whatever the senate passed, let's try this, let's try to carry on another day, but you're saying there is no guarantee given that the president would have the similar support on the actual big agreement about what this is all about about the transpacific partnership. >> right. and that's the problem here. and that is the essence of the legislative process. sometimes even if you get one body to do something, in this case the senate, which would sometimes be the heir cover, you couldn't get it through the house of representatives. neil: all right. this is very interesting. chad, thank you very much that this was something they wanted to rush through without a vote like you saw before on this

other trade adjustment assistants, quick why can't you or nay, and taking the senate vote exactly as it was to trade promotion authority with all of its warts, throw it at the house, that exact thing, electronic vote, that one did pass. so it's a face saving gesture to save the president's skin for now, but at best it was a victory it would appear. >> absolutely. i mean it's like -- neil: all right., steve is with us right now. steve, that is why maybe there's a mixed read on this and the markets are sort of hoping, well, they got to fight another day, but it was an awkward fight. what do you make of that,. >> neil, i don't think it's a mixed read. basically obama has been the only person that's been able to bring together saudi arabia and israel and now he's done one better, he's brought together the democrats and republicans against him. this is a very big deal because of what's happening in europe right now.

greece, one of the reasons why i think greece feels very wanting to hollow out is because they have a lot of offers from russia and china. neil: people are very confused as we look at this, everything freezes now, they're not going to process and move beyond this, they're just saying we agree on the framework to give the president this authority, but we're dare not going to try to iron out these differences, we will fight this in greater detail and perhaps exacerbated detail. that could be problematic in itself. >> absolutely. more fighting is not good for anybody, particularly the president. >> just happy we got through this hour without messing up into the acronyms involved. neil: my god. >> i don't -- you know, again, the victory is probably the best analogy you could make here, and it wasn't a victory, it's a wait and see moment.

>> nancy, and not barack obama's democratic party. neil: and to say from all sides to fight another day. but badly wounded, badly battered, supremely embarrassed. >> neil, as you were just saying, a stunning deceit, this is breaking news, everyone, for president obama, his own party rejecting his trade agenda moments ago the house voting against a trading bill known as the trade adjustment assistants, which the democrats initially wanted. now, this is a key hurdle to the tpa, however, we did learn that they did just approve the tpa. the president did come to capitol hill this morning trying to rally democrats to stand with him, but it didn't work, even nancy voted against him. joining me right now with more on all of this, mike, the chief executive officer for heritage and former democratic