stuart: dan henninger error on this program. our thanks to ashley webster and gretchen carlson. our time is up. neil: seeing a lot of red going on here, we will detail what is getting it and why. and security alert which seems to be building premier entertainment across the country particularly disney which is beefing up security, following see world and others doing the same. increased security at disney theme parks, increased bomb sniffing dogs, and l.a. guns for a theme park with a great ploy

story presents, it was odd that no one over 14 years old can wear a costume. they bought star wars, louis zoo but film, everyone is wearing costumes. the president will make a statement, his third in a few weeks, outlining securities. >> we will see what we have coming is interesting, the first speech was a big one, and the address from the oval office but monday at the pentagon, outlined successes, really nothing new in terms of plans going forward, at the national counterterrorism center which is more than publication but an organization, opposed 9/11 brings together intelligence gathering, the cia,

fbi, supposedly integrates intelligence gathering together so he will meet with the national security team than and speak with interesting backdrop of a couple friends. number one is polling, number is going down, 43% overall approval in the latest nbc wall street journal poll, that is the list in the year and on these issues even lower on foreign policy, 34% in terms of approval of bloodies dealing with isis and tomorrow a big day for the president because instead of going straight to his christmas vacation in hawaii he is stopping in california and will be with victims of the san bernardino shooting. earlier in the week, spoke about what was happening overseas and what has happened overseas, in a few minutes it was more of a domestic focus. neil: thank you very much. this is not coming at the behest of washington or heightened security alert for theme parks

nationally or internationally, just parks acting on aaron including disney world, see world, universal installing a minimum metal gold-medal detectors. when you go into a lot of these theme parks they go through your bags, they have random security features where someone will be picked out of the line, presumably the 14-year-old dressed as shoebox a --chewbacca people like getting concerned in light of the latest developments. bill daley on what the president might say or should say. >> first of all his trip out there is a bit of optics before the holiday season, before christmas and new year's getting a sense the he has his hand on the pulse of what is happening. he doesn't need to go there, but

going out there is people need to know the president is hearing what they are saying. then it may be major pronouncements in changes of strategy and tactics going forward. it is a reassurance issue here and if there is something, there is more demonstration in the way law enforcement is acting in local cities as opposed to perhaps what he might be saying from the podium. neil: what worries me, we chat about this, the more people tell me to stay calm the more nervous i started getting. why you telling me to stay calm? >> it is something certainly, people looking at what happened and as much as people say stay calm and the government responded where the incident happened, there is an underlying issue and it goes beyond what we are seeing today or what we have

seen a few days ago to the department of defense and that is what are the real killers of the anti care program going forward. how are they tied together? they are not in isolation, the military and domestic security tied with immigration issues like checking out visa applicants. all those things are really integrated and the exposures we have and part of the solution. neil: my producer was passing along the list of attendees at the meeting, it seems correct me if i'm wrong, it seems like the same cast who was mayor for the pentagon briefing but they include the national security adviser, john kerry, secretary of state, homeland security secretary jeh johnson, fbi director comey, i don't know if they all physically go to that meeting at this location but it is a reminder, optics to your

point earlier on that i have my whole team looking at this, right? >> right. the center itself was put together physically and materially from different groups after the 9/11 commission, there was not the sharing of information, people highlighting what risks are. coming up with solutions, the center by itself day in and day out, and that is one of the hinge pins in a domestic program. these things need to be looked at down the road, director comey raised the like how do we work with the tech community to better understand how people communicate and how encryption golan. all those things are fundamental to how we will protect ourselves going forward. neil: we are monitoring developments at the site of this gathering and and the president speaks we will take you to him.

we are also trying to understand why stocks are falling after the round yesterday, the one uncertainty that was left out there, the federal reserve would hurt -- start hiking rates was dissolved:federal reserve started doing that yesterday, first time in a decade the rate going up, a quarter point, i keep stressing that because they are low. part of the concern is the dollar can be bad, fewer dollars, gerri willis joins us on that. what is going on here? >> i think today's market action has more to do with junk-bond credits, what is going on in that marketplace. it is worrisome, spreads between junk and treasurys is massive. this is a marketplace calling for help, a cry for relief. even mutual-fund that own this,

you got to pay attention because this economy is very weak. the s&p 500 companies which are better credits in the third quarter revenues were only up 3 to 6 tenths of 1%. people say the fed never do won and then, maybe they do. >> a contract in the final quarter, the one we are in and when we see that and realize that and the dimensions of that, then the concerns will build a. >> that will solve stocks but everyone knows the dollar is going to go with rape and that hurt earnings at major companies and also there are benefits to companies with the low-interest car loans and other loans at stocks need to go down 20%. i think it falls under the action by the fed is the end of the yield reached, where i need to buy high yields of whether it

is m l p or junk bonds or zero% yield and investments, that game ending so fast, started before the increase and will continue for many months and we don't know how far it will go. did that lead to wholesale selling not just of energy credits and funds on those but of the junk bonds a yield reaching things before doing a lot of funds and long john bonds, those will start to have major losses almost as much as the third avenue value fund if that unwind rapidly and people tried to beef. to your earlier point fear becomes more than a psychological event. it is exercise in the way people sell, as questions later. that was a very big part of the meltdown, the contagion in 2008. we are not there, but you can see how it builds. >> what happens when you look at your statement at the end of the year and you say what happened here, what happened to me?

i thought i was protected, grabbing is the shield as i can and you look and start selling it you might sell indiscriminately. the first down year in seven eight years. psychologically how they handle that? it >> the bond investor is skittish. they will take some punishment before they sell stocks, 20% or more. they are up blocked any time but the bond -- >> people have seen this before, are these people who have been burned multiple times? >> they haven't -- >> it is always the reaction is still the same. >> went back into bonds to not lose money in stocks again. they are overallocated and they didn't think it could fall 20% in a year. i don't know why they would think it would happen again but that is where the danger is an outflows could happen. you don't know how it could unfold.

it could go away in a few months and this is a good time to buy because yields are attractive compared to treasurys but the way it played out is is not a good time and you want to get to bankruptcy and multiple fund collapses, a distressed individual investor. >> moody's is downgrading more junk bond companies that issued junk bonds, not just energy companies. neil: last time they were halted, we are watching to get a the ten year treasury note is down a little bit today but to gerri willis's point, a lot of the folks in the risky stuff from moving in presumably to savor stuff, those types of securities, benefit uncle sam's -- in such times when stocks take it on the shin. we will watch closely. we are waiting for the president to outline for the bird time in two weeks where we are in the battle of terror.

a lot of folks want to know how we are doing not necessarily with fight isis over is there, but bad guys right over here. more after this.

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take control of your rates. visit a local office or call see car insurance in a whole new light. liberty mutual insurance neil: still awaiting the president of the united states. he is meeting with his security staff to outline for the third time in two weeks where we stand in this terror battle abroad but a lot of critics and what about here, how are we dealing with these cells certainly after san bernardine know that might have very strong recruits in the u.s. he might spell that out, we don't know, we will be waiting to hear is that. two dave roading in congress as they try to get out of town and try to avoid a government

shutdown. a two step process in the house that will be lumped together in the senate where they deal with spending issues and the tax issues, they have to cobble together something that gets them out of town before christmas. we shall see. blake berman following that closely. one at a debating today? >> the tax bill is being debated and there are two separate things, the omnibus and tax bill go hand in hand. on the floor of the house the tax bill is being debated. not much longer, this was expected to pass, and some of the cuts being made on the books before. there are two pages long before boiling down the highlights here, republicans able to point to delays of the medical device

tax within obamacare with small-businesses being able to ride $500,000 on capital costs. democrats make permanent the child tax credit, the president's stimulus package, advocates say this is a bipartisan bill, $600 billion worth of cuts. there is a healthy dose of criticism as you might imagine, the price tag and who is going to pay for it? >> i believe this is a very important step forward for tax reform, sets the stage, we have broken the disastrous cycle of knee-jerk extension of these provisions, the certainty of this bill is that we will explode further deficits and provide disinvestment. >> if cadillac tax and obamacare with high cost insurance plans

will be delayed but that is a part of the omnibus, the separate $1 billion bill that vote expected tomorrow. neil: how the budget could hit taxpayers. i heard from a number of conservatives who don't like this republicans are seeing a lot of ground, is angry at paul ryan, paul ryan using this as an opportunity to get these out of the way. and keeping the attention, the hole drill, what the make of it? >> no difference from john boehner. john paul ryan, it is back room deals. this 2,000 page bill released in the middle of the night so paul ryan is not reforming. neil: i understand your passionate views but if you're

getting rid of the onerous provisions and taxes attached to obamacare. what you said on this show, so cumbersome and annoying. >> these are pluses republicans in congress, to quiet the storm. taking place across the gee of the electorate. >> the lot of people worry about, at least give an opportunity for ryan and others to come soon and get rid of these onerous provisions ones that at that time. i can't get a revolution going over night but this is a great start. >> paul ryan himself said this is not the way government should work. that is the quote from yesterday, not the way government should work so the problem is the optics and the way the deal was cut.

the democrat in the white house, this is going to keep being pushed on to taxpayers, and -- bernard: 1 is pushed on the taxpayers? >> we have to pay for these $66 billion in deficits. this is a good deal, then it would be even. we would not have additional deficits coming out of this budget is ho-hum out of washington, $66 billion is no big deal because we have tax-cut provisions. we should not have $66 billion in deficit spending. that is the problem. it is pushed on taxpayers long-term, and with water boiling very gradually. >> the only one who use that analogy when it comes to the budget process. neil: you are going with your family to universal, you

probably heard these plans that a lot of theme parks have taken to boost metal detectors and hamas security presence, what do you think? >> i am glad. i think they should. surprised they haven't done it earlier. it would make sense to check people at the gate. a swarm of people could be a target these days. so it is a good move. these are measures that a lot of entertainment sites and sites where there are thousands of people entering, that they are wise. don't know if they're ticked off to my arrival and that is the source of this. neil: don't know what your personal proclivities are but i should breeze you for the fact that if you are over 14 you cannot wear a costume. >> i had my charlie gasparino mask in my bag. i have to leave that behind. that was my plan.

neil: hope you have a safe trip and special christmas. thank you very much. paul ryan, your best. in the meantime, we are waiting to hear what the president wants to do about the terror situation. a lot of critics have said it worries them but they are more concerned that he is focused on what we are doing a broad to stop isis when we have already seen in san bernardino or before that, a lot of isis elements are extremists or those who have become radicalize are already here, far from syria, far from iraq. then what? after this.

neil: this is a live shot of times square in new york city, some of you might be thinking that is night, it is very dark end rainy.

it is looking weird but the city is crowded, we have tourists a week away from christmas and they are still coming, the fears and morning, in a few weeks, about terror and what he is doing. to stay vigilant or on top of bad guys, bad guys here, doesn't really dissuade the public. in this wonderful city, taking all the sites which is good. it is raining and dark outside. we have a chief economist on the federal reserve. we know what is yesterday by hiking rates. the concern is the direct correlation on mortgage rates, up might be easier fast.

those who locked in, where do they stand? >> keep in mind this is expected, mortgage rates have not reacted that everything is spray some in. neil: unless it was adjustable. >> very true. most americans go with the 30 year fixed mortgage rate, seeing slight increases. neil: the fed does directly control, the fear seems to be ratcheting up. is rare for the fed to be won and done but if it is not a hiking cycle it may not be every meeting but will be a steady climb up. >> love that has said they expect to raise rates by 25 basis points four times, it is to be expected. and housing market itself and mortgage rates.

i don't think the effect will be that great. and cheaper markets iron affordable and easy tom markets on the coast that is a different story, you will see more impact if you are in san francisco, new york, miami and the rest of the country, this won't feel as tough. neil: when rates are going up with it that hurts the housing industry or helps it, it might help in that people sitting on the fence, should i get home or refinance or not refinance, might get a pet in their step. >> this is so expected and economists have been talking about this for a year and a half. people that were sitting on the fence about an off of that fence and not purchased a home if they

can. people find a home, the interest-rate increases is not the number one concern, they're worried about finding affordable homes, worried about getting together down payment and worried about interest rates further down there a list. neil: also worried about getting approved. they're still being tough. >> is much tougher getting a mortgage than it was in 2002 but luckily it has gotten easier than a really tight times of 2011-2012. >> appreciate it. i want to update you on the development, trying to find fun in the sun at cuba to your options, our two countries have agreed to allow 110 round-trip flights per day on u.s. airlines to cuba. this coming from the state

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neil: taking you to the house of representatives.

voting on the tax portion of that measure. were moving some of the owners ovations. so-called cadillac tax. that is more delayed. the medical device tax etc. it is largely republican body. it does have a great deal of democratic support. all part of an effort to avoid a government shutdown by getting an agreement on 1.3-$1.4 trillion measure that gets kicked to the senate. it is anyone's guess where that will go. the president has written off on this. i do not know if it is just me, the way we show how folks, this is they are doing, not hours, the same type that i cannot read. the camera is only 2 inches away from it.

apparently, i am told that it can go okay. please, let me know. there's something about time remaining on the bottom. i am annoyed by the bottom. seeing an eye doctor. you get it. okay. also keeping an update. outlining what he will do about the various issues. it has everyone concerned appropriately so since anna burnet you know. spelling it all out. running a little bit behind schedule. we will take you there. a lot of folks want to hear specifics on what the president will do. under secretary of the navy, nobly in that capacity. he is back with us now. what do you want to hear from the president? the third announcement.

what you want to hear? >> i would love to hear a speech that winston churchill would give. i am not expecting that. it would be helpful, for example, if the president would start identifying the enemy. i think it would be very helpful if a no-fly zone were prepared. i think it would be very helpful to arm the kurds. >> no-fly zone. you may have heard grandpa's presidential debate. there you go. there is your candidate for world war iii. that would be very risky to do this morning. >> the oldest of fax. the strength and encourages respect and weakness invites

aggression. we will wreak the benefits. if we are weak, we will continue as we have been for the past seven years. >> we will look at that. somebody asked a little bit. i think we always hear about these announcements. they really say nothing. certainly nothing new. people keep trying to tell me to stay calm. i increasingly get nervous. what do you think? >> there is a reason to stay calm. there is no reason to stay calm if we persist with the current strategy that is not working. there are all sorts of things that the resident could do. i think most of your viewers are familiar with them.

stop aligning the united states policy. it drives the sunnis into the hands of isis. lead a coalition of sunni states that are opposed to isis. form it. lead it. supply more strike operations from american aircraft carriers. we have one in the vicinity right now. a whole lot of things that the president could do. i would be surprised and very pleased if his announcement, if his announcement includes them. >> winston churchill for a moment there. i do want to get your thoughts on what a number of them are doing. apparently on their own. beefing up security. much more security outside the major attractions.

it is obviously in response to developments over the last few weeks. are they over doing it? is that just adding to this care? what do you think? >> i am in a dangerous neighborhood, for example. i see policeman, i see policeman who are armed. that makes you feel more confident. the tsa for example, transportation security administration, they say it is an inconvenience. going away and having anyone get on a plane without being inspected. how long it is necessary for them to last. neil: good seeing you again. be well, my friend.

being voted on in the house right now. there is still skepticism whether this can clear a lot of hurdles. nancy pelosi, not confident that democrats can provide enough votes. the problem may be, keep in mind, some conservative republicans saying that this does not do nearly enough to control spending, of course in the aggregate. it increases the deficit. that is by another 60-65, $66 million. speaker ryan was hoping for support to counter that from democrats. nancy pelosi indicating that there may not be enough democratic votes to do that. i do not know which measures she is referring. there read from nancy pelosi is

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>> we have a major selloff here. the reason it is clear is because of the new star wars flick. >> there has been some hype around this particular movie. i did not get into nearly as much all as my friend. alienating a large base for whom the force awake nance. star wars in general. these are grown men and women. they dress up as these characters. that is fine. whatever you are into. trying to pull this up at disney world. disneyland.

it is not happening. even they are, you know, putting a stop to it. catherine. i hope you are proud of yourself. >> i am proud of myself. you have to stay proud of yourself. >> i think you are very dismissive. >> i have never seen it. i do not watch space movies. i do not know anything. a lot of people trying to make fun of me. they did not hit it. they did not understand what they were saying. >> of course, you have made similar. it really brought out the nastiness. >> it really brought out the nastiness. if you were an adult and you were will mainly sleeping in a parking lot, that is a movie and

not like the pope, i think you may need to reevaluate that. i am sure that if i criticize those people, they may not know me. >> i do not know. they suggested doing something. neil: that is fine. it is called the force awakens. it has pretty good reviews. they expect it to be huge. they feel guilty that you have alienated a large group of people that could very well make this the most popular movie of all time. >> i made a joke on a satire show at are you in the morning. i said that i did not want to see each other poke each other with their nerd sticks. i said that i had never seen the movie because i was too busy

like in cool things and being attractive. that is what i said. it was a joke. somebody made a video. it was a bunch of hot girls in star wars shirts. i was making a joke and you should relax. >> it made me cry. this is something unlike any movie i have ever seen. >> i feel like they should feel guilty. it does not mean i am not a person. i am still a person. it just means that i do not want to see it. it has been in my face constantly. how long this will go on for. a long time. forever and ever. >> you cannot get a ticket to this movie. at least for this weekend. some showing it around the

clock. i do not get it. i do not watch movies with space. i do not watch movies with the word love in the title. i do not really like movies in general. i like television and books. neil: for someone young, you look very jaded. >> i am excited to be a 90-year-old woman. >> the force awakens. it is coming this weekend. i guess it debuted tonight. [laughter] all right. they can relate to burress samira. throwing a party for $7 million. no one had to dress up as a star wars character. you should find out what they did dress up as after this. ♪

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speed all right. reporters from virginia. combat terror. we are at session lows. peer budget measure. it is a measure that looks in dow. voting for the government funding bill. even though it may not necessarily be their cup of tea. she is concerned that there may not be enough democratic votes. not keen on passing a measure. paul ryan had been working on the idea that he could put together some type of a coalition. once in the house.

to the senate. altogether. spending measure. in and out of session lows here. what is going on? what is happening? >> it is interesting to see what they have to say about the terrorism so. yesterday was all about the federal reserve. raising interest rates a quarter of a point. at the same time, a physician heading into a rate hike. the next year or so. now, on this speech that the president will be making here in a minute or so, we talked about it earlier. a certain amount of pressure building on this president to be more forcible in tone.

not necessarily four anyone that is expecting a huge change in policy. a change in tone. criticize for not being as forceful as some wanted him to beat and did not appear to change that tone at all. neil: the house went ahead and pass him tax credits. never known republicans. the taxes billed into the affordable care act. the catalog tax. medical device attacks. pushing it out altogether. how they compensate for that. the push is to avoid a shutdown. i have the democratic votes to do that.

>> i think paul ryan seemed like he had a little bit of a gray. would not have been afforded. does not really matter what that grace period would be. a number of conservatives yesterday. not pleased with the deal that was being worked out. they are trying to make compromises and work together and work with the other side did it seem like they were giving him a little bit more real manly way to do that. this deal goes through. will the speaker be given that same leeway by conservatives? sure. early on, it seems like he has been given more than that then the previous speaker would have been. neil: threadbare and stuart varney. the drop of the holidays. knowing that the more recessed,

the less likely that is. deadline pressure. some conservative measures. that is the wonder we're dealing with here. always this time of year. getting home within easy way to do so. keep the government up and running. it'll be used as leverage. maybe it will be used as leverage as well. >> the dynamic that builds up among the conservative measures has been already interesting to watch. how they pressure the new speaker. if you have to continually go to get the other boats. what does that mean for his influence and power.

>> getting a lot of stuff done. an elected republican president. planning on stuff that may not happen. thank you very, very much. top obama economic advisor. always good to have you, my friend. >> good to be back. neil: raising interest in this environment. a quarter point to a quarter-point. your argument was much like larry summers. now is not the time to be doing this. why? >> the fed has never tightened in an environment where we were growing this well. the law says that what the fed should do it focus on inflation in the job market. we are not full employment. it just seems, i know everybody wants to raise the rates and get

off of zero. a little bit of a dangerous moment to do that. the rest of the world is melting down. >> did so despite all that she was getting. certainly from foreign leaders and imf did obviously, these are signature moments to firm up. what do you make of that? >> a old friend of janet yellen. she is a brilliant woman. i do not think that there would be any political aspect of that. it is predominantly catering about what is happening in the u.s. economy and that is the way it should be. neil: all right. okay. hang onto that.

the president outlining his latest security concerns. this is the third time in less than two weeks. >> as president and commander in chief, my highest priority is the american people. members of my national security team for an in-depth review of our efforts to prevent terrorist attacks for our citizens around the world and here at home. we examine any known and emerging threats. we review our security posture and we make sure that we're taking every necessary measure to protect our people. today i want to hold our meeting here rather than in the situation room at the white house. the national counterterrorism center. this is the hub where somebody of our experts and efforts come together. i want to thank our director of national intelligence, jim clapper, as well as director

nick rasmussen. all of you. welcoming us here today. nic, along with cia director brendan and fbi director provided a press briefing. they updated us on the investigation into the san bernardino attacks. i reiterated that the investigation will have the full support of the federal government. determining why and how these terrorists carried out that tragedy. secretariat homeland security johnson updated us on measures we are taking here at home. they increased awareness. they enhance the safety of the public. especially with so many americans traveling during the holidays. after the terrorist attacks in paris and san bernardino, i know that a lot of americans were anxious. that is understandable. it is natural.

what matters most to all of us, our friends, our families, our communities and their safety. that is true. folks inside of government as well as outside of government. here is what i want every american to know. since 9/11, we have taken extraordinary straps to strengthen our homeland security. our borders, ports, airports, aviation security, including enhanced watch list and screening. we have gotten much better. thanks in part to the people in this room. moreover, and i think everyone will agree, we have the very best intelligence our folks are the best. across our government these dedicated professionals including here at nctc are

relentless, 24 hours a day, 365 days a year. at the operation center here, people from across our government work literally shoulder to shoulder pouring over the latest information, analyzing it, integrating it, connecting the dots. they're sharing information pushing it out across the federal government and just as importantly to our state and local partners. in other words, what you see here today is one, strong united team. so our professionals have a remarkable record of success. of course when terrorists pull off a despicable act like what happened in san bernardino, it tears at our hearts. but it also stiffens our resolve to learn whatever lessons we can and to make any improvements that are needed. in the meantime what the world doesn't always see are the

successes. those terrorist plots that have been prevented. and that's how it should be. this work oftentimes demands secrecy. but as americans, we should not forget how good these patriots are. over years they have taken countless terrorists off the battlefield, they have disrupted plots, they've forded attacks, they have saved american lives. so for everybody who is involved in our counterterrorism efforts, i want to say thank you. and the american people thank you. now, i want to repeat what my team just told me. at this moment our intelligence and counterterrorism professionals do not have any specific and credible information about an attack on the homeland. that said, we have to be vigilant. as i indicated in my address to the nation last week, we are in a new phase of

terrorism. including loan actors and small groups of terrorists like those in san bernardino. because they are smaller, often self initiating, self motivating, they're harder to detect. and that makes it harder to prevent. but just as the threat evolves, so do we. we're constantly adapting, constantly improving, upping our game, getting better. and today the mission to protect our homeland goes on three main fronts. first we're going after terrorists over there where they plot and plan and spew their propaganda. as i described at the pentagon, we're hitting isil harder than ever in syria and iraq. we are taking out the their leaders, our partners on the ground are fighting to push isil back and isil has been losing. our special operations forces are hard at work. we took out the isil leader in

libya, we've taken out terrorists in yemen and somalia. so we're sending a message. if you target americans, you will have no safe haven. we will find you, and we will defend our nation. meanwhile as always, we're working to protect americans overseas including our military bases and service members and secretary john kerry updating us on our security at embassies and our diplomatic post. second we continue to do everything in our power to prevent terrorists from getting into the united states. we're doing more with countries around the world, including our european partners to prevent the flow of foreign terrorist fighters both two places like syria and iraq and back into our countries. we're implementing additional layers of security for visitors who come here under the visa waiver program, and we're working with congress to make further improvements. any refugee coming to the united states, some of them

victims of terrorism themselves will continue to get the most intense scrutiny of any. they go up to two years of vetting including biometric screening and the review i ordered into the fiancé visa program under which the female terrorist in san bernardino is on going. third we're stepping up our efforts to prevent attacks here at home. as i said, the ncpc is constantly sharing information with our state and local partners. across the country more than 100 joint terrorism task forces are the action arm of this fight. federal, state, and local experts all working together to disrupt threats. at the state level, fusion cells r receiving tips and pushing information out to local law enforcement. and just yesterday the department of homeland security updated its alert

system to make sure americans are getting the most timely and useful information. and with groups like isil trying to radicalize people to violence, especially online, part of the our meeting today focused on how we can continue to strengthen our partnership between law enforcement, high-tech leaders, communities, faith leaders, and citizens. so we've got to keep on building trust and cooperation that helps communities inoculate themselves from the kind of propaganda that isil is spewing out. preventing their loved ones, especially loved people from coming to terrorist idealologies in the first place. and second our own strength and resilience as people. that means staying vigilant. if you see something suspicious, say something to law enforcement. it also means staying united as one american family. remembering that our greatest allies in this fight are each

other. americans of all faiths and all backgrounds. and when americans stand together, nothing can beat us. most of all, we cannot give in to fear or change how we live our lives because that's what terrorists want. that's the only leverage that they have. they can't deet us on a battlefield. but they can lead us to change in ways that would under mine what this country's all about. and that's what we have to guard against. we have to remind ourselves when we stay true to our values, nothing can beat us. so anyone trying to harm americans need to know they need to know that we're strong, and we're resilient, and we will not be terrorized. we've prevailed over much greater threats than this.

we will prevail again. so i want to once again thanks all of you at nctc and every one of your home agencies across our entire government for your extraordinary service. i want every american to know as you go about the holidays, as you travel and gather with family and the kids open their presents and as you ring in the new year that you've got dedicated patriots working around the clock all across the country to protect us all. oftentimes they're doing so by sack fifing their own holidays and their own time with families. but they care about this deeply. and they're the best in the world. and for that, we're very grateful. thank you, everybody. happy holidays. neil: all right. for the will third time in less than two weeks, the president outlining what he's doing on fears that are running rampant across this country as we've seen

theme parks tighten up their security across disneyland and disney world in orlando, we've seen this happen in seaworld and elsewhere, more metal detectors, these institutions acting on their own. the president indicating that much more domestic focus here on what they're doing to weed out the bad elements that might already be here. you know, you hear your old boss, and you hear what he's doing to try to stay on top of this, but also the economist in you must worry about whether it does put a chill on people who are thinking twice about going out or twice about going to that mall or even to a movie theater. what do you think of that and how much of an impact this could have? >> you know, it might -- you have seen in the past different episodes where that kind of thing happens that in a way it's like a pseudosnow storm or something that people don't go to the mall.

but historically if people get scared, those are relatively short run phenomenon. even after 9/11 you see a hit on consumer confidence but it doesn't last for very long. so i wouldn't be as nervous about that for the macroeconomy. and i kind of think as you said -- i went to the bears game a few weeks ago, they got all kinds of different checkpoints. it's a pain but, you know, let's thank god that they has those kind of checkpoints in paris if the killers had gotten into the soccer stadium there, who knows what additional -- neil: fair enough. fair enough. when you hear your old boss criticize to the extent how he's handling this and still confident that he's on top of this. what do you think? >> it's not really my area other than the economic side. you know, it's -- it did seem to me when i was in washington and since i've been out that it kind of doesn't matter what

the president says. if he says that there will be some people who is that they are against it, and both parties kind of have that dynamic going. what i call the east german judge at the olympics dynamic where you hit a triple flip and you're getting a one- neil: i always like the german judge for some reason. all right. very good seeing you again. be well. be safe. >> you too. neil: all right. we're going to stay on top of this and any new developments and any security concerns. before we take a big break, we'll let you know that the house has approved the tax package, that was the one that -- was the easier one to pass. the tougher one is the spending element tomorrow and then both get over to the senate to be debated. now, i'm told the vote on this was 318 to one. my staff are relaying that to me because if i had to rely on the graphics that we get out of the house that have not changed since the first star

wars movie, i'm just hoping this latest star wars movie incorporates something more advanced that what we're getting out of the house, but i'm told it does not and the movie's a flop. more after this ♪

. neil: all right. we have a lot going on today but a lot of people are still talking about the fact that hillary clinton signing up with warren buffett and that rule that if you earn over a million dollars a year very least you should be paying federal taxes, a lot of folks can write off stuff, you can pay substantially less than that rate, she wants to make sure and of course warren buffett wants to make sure that they are. now, of course this wouldn't apply to warren buffett because a lot of his isn't straight income, it's taxed at a very, very different rate

and wouldn't affect him. having said that, you can raise a lot of revenue enforcing that and then you have to start asking what then to get even still more revenue to take away more deductions and write-offs and that is the same effect as raising taxes. charlie gasparino, what do you make, first of all, around someone who follows this very closely, special assistant to bush 43. she's saying i want to raise taxes. she's saying i'm only going to do it on the million and over crowd, i'm going to make sure they stick to the world's most celebrated and endearing investor agrees is a good idea. does it work? >> no. i don't think it works at all. i think the typical redistribution of wealth. most millionaires pay a rate of 25%. so she's saying i'm going to raise that to 30%. but what she's trying to do of her proposals, neil, she's put out a trillion dollars worth of spending any of its and yet this is only going to raise

35 billion a year. so more smoke in mirrors. >> and think about where it's tailor made for. if you think about this proposal plus the capital tax proposal, which started ramping up capital games on short-term. neil: moving target. >> six-year step up. >> it would not affect warren buffett. this is so political, her friends on wall street, the limousine liberals like warren buffet really don't get nailed on her tax scheme. you know who get nailed on her tax scheme? people who want to make a profit on their investments. the entrepreneurs, the established wall street class. all her proposals don't affect the established. >> nunn private she's, like, you think i'm stopping at 30%? you think i'm going to stop at a millionaire? [laughter] her hillary laugh; right? that's what you have to worry about. neil: i'm worried about you.

[laughter] >> yeah,. neil: right now. >> i want to be the president striving in the successful. so i'm going to punish the successful. i'm going to punish success in this country. that's a great campaign sloga. neil: making the point a lot of millionaires would happily and eagerly pay more. >> of course they don't want to pay more and if mr. buffett wanted to pay more and pay his share, he could but of course as you pointed out at the top of the segment, he's paying at 17.4%. >> well, let's delineate between the types of millionaires, i heard of ken who made his billions talked about paid higher taxes. the people who have established wealth, the wall street guys, warren buffets, they have no problem of taxing entrepreneurs. that is the hypocrisy here, and it runs through all of her economic proposals. people -- the

entrepreneurlyial class, -- neil: i know i'm not for it but i -- a little bit of balance here? could we offer in the context of all of this how you're going to reign in spending another -- what are you going to do? it's not too different with that young college co-ed who said, well, we want free college, we want our bills paid for, and we want this, we want that, nice kid and all but i'm just saying have someone else pay for it. and there isn't enough money. even taxing the 1% 100%, you can't get it. >> the more, the more, the more, the more, and one thing hillary clinton has the luxury of being surrounded by some of these -- at least some of the 400 wealthiest americans are supporters of her and have given her ungodly sums of money and they're standing around telling her this is a great idea. >> but remember how this is tailored. this is tailored for the established wealth.

neil: and it's a good populous. >> and populous. yeah. and a fake populous. >> look at the last seven years. you have had all the stimulus that was pumped into the economy, what did we get for that? american people have to and themselves okay. you're going to tax people more? then what am i going to get for that? because president obama at every speech has talked about we need money for infrastructure spending. well, why didn't you spend the north of a trillion dollars that you had on infrastructure spending? . neil: well, fair enough argument. maybe we need donald trump because vladimir putin likes him and what's interesting is putin has referred to him as a very bright and talented man. what do you think of that? >> i will tell you this. coming out of the debate i did a little -- started making calls on my sources, a little background check. you know, tell me what happened coming out of that about debate. and to the man -- and most of my -- my sources are mostly establishment republicans working for those -- the jeb campaign, the rubio campaign, the kasich campaign -- you

know, people close to kasich. >> you just call rubio establishment. that's a kiss of death. sorry. >> the leading establishment, but he is. and they came out of that thing very frustrated i will tell you. they feel like the polls didn't move, they feel donald trump still is sucking up all the oxygen, they think that if this keeps going and they don't see an end in sight right now to be honest with you, they think donald trump could be the nominee. but the -- there won't be an establishment nominee and hillary clinton win. neil: well, maybe they should listen to putin. >> our friend gary had a very good tweet on this earlier today where he said be careful of the company you keep and he said maybe this clears the way if we're getting an endorsement from kim jong-un. neil: would you say you're a establishment guy? >> yeah, i would. neil: you guys are not doing well. >> no, we're not. neil: if you look at all the polling results whether it's ben carson is sliding or ted

cruz and the support that he gets or certainly donald trump, it's more than what? roughly three out of four? >> yeah. neil: so you're the dinosaur, they're not. >> well, at 46 i hope i'm not the dinosaur. >> if you're a chick on tv, you're a dinosaur. i'm sorry. >> here's the problem here. establishment promising for so long so much. neil: they're sick of you. >> they're sick of it. >> i just want to add one thing. putin is trying to make nice with donald trump because he's afraid trump is going to make fun of his man breath. >> but to the point of the establishment, they're all, i know this for a fact, they're all wooing steve wynn. neil: the casino mogul. >> the casino mogul, john kasich supporting anybody. >> and they're mad. neil: well, i do think the take away line here is the man breath thing. myself. >> it's the truth. think about it. go look at the pictures on the internet.

you know what i'll saying. neil: one more laugh? [laughter] . neil: you will hear that voice in the star wars movie. >> that is definitely witch-like [vet] two yearly physicals down.

martha and mildred are good to go. here's your invoice, ladies. a few stops later, and it looks like big ollie is on the mend.

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neil: all right. this is the president outlined his latest strategy to remind americans he's looking at their safety here, obviously they're monitoring things all across united states. so this time this third address on such an issue the third time as i said in less than two weeks focus more on what they're doing here for americans to have a safe and hopefully uneventful holiday season when it comes to security issues. connell, i want to pick your brain a little bit on that because it comes at the same time these amusement parks and the like led by disney, seaworld, are taking matters into their own hand. so what do you make of that? connell: well, some of those

said they're just testing out new security measures and that thing and, you know, clearly has happened at times like this we're at a heightened state of alert, i think i stated before the president spoke, at least critics for his for a tone and what he was going to say, he was going to stand up and pound the podium a little bit and say we're out to get these guys. clearly that's not his approach. this is something he's doing on purpose. the white house on the exact time the president begins his remarks was simultaneously tweeting out a list of -- bullet points basically of what they were going to put out, and they were the same things that we heard for the most part on monday at the pentagon and before that the speech to the nation. so it stayed the course, steady as she goes, stay calm, see something say something is what the president has to say and continues to say. neil: thank you, buddy, and in the meantime you want to know what they're doing at these parks, and disney's case, they're going to be rifled

through arbitrary visitors, we'll get the full scanning treatment and one rule that stood out to me -- two actually. no toy guns, which in the home of toy story is a little weird. and those 14 and over, if you're over 14 and you're wearing a costume, you're not welcome. and then i'm thinking to myself, well, star wars is debuting; right? and paid $4 billion for lucasfilm. so you would think that everyone and his uncle and aunt is going to be dressed up as a character. like that dude there you just see there. he would be kicked out. which, by the way, looks like he should be kicked out. but that's an odd thing. michael here with us and -- >> good thing i didn't dress up. . neil: when disney does something like that and tells 14 and over no outfits, what do you think of that? >> it's the age we live in now. everyone -- usually for these movies lined up in theaters all across the country to go

see this thing. neil: you know this better that i, and you've seen the movie. >> yes. neil: i heard you thought it was a total disaster. >> it's incredible. neil: stupid? >> i did not, neil,. neil: one by the from the '70s? >> you're just going to hate, aren't you? . neil: but you like liked it? >> i did. it lived up to the expectations in my mind. neil: okay. because those awful comments, not withstanding, a lot of people are looking at this and saying it could be the biggest movie of all time. now, star wars films earn a lot of money. >> yes. neil: how much this weekend you think it's going to do? >> i've heard anywhere from the low end $140 million to about 240 to even 300 i heard as recently as this morning, which is a big deal for december. neil: less than half a billion, it's a disaster. >> not at all. look, they spend 4 billion for luck as films, 500 million to make this thing. neil: disney. >> and they spent 200 to auto produce it and probably another 200 to market this thing. there is no room for error on

this thing. no other time you're going to have this much goodwill, this much attention focused on a relaunch of this franchise, and they hit -- neil: can you tell me -- >> i can't tell you a thing. yoda is gone,. neil: can't be brought back. >> literally. neil: did they do any update in the saber thing, it was stupid in the '70s, is it still stupid? >> it's still incredible, it has a cross thing going on. neil: really? >> yes. really, neil. neil: all right. please tell me this. i heard people saying at the end of it some were crying. >> that was not the case with me, although i did get goosebumps at the beginning of it. neil: really? >> full disclosure. if. neil: now, did you see it when it first came out in the '70s? or were you even born? >> i was. 1977 i saw it and what made it to special then it was unlike anything we had ever seen before -- neil: now we had seen it before. it was like 48 movies before this; right? >> that was the big challenge for "abrams, and he did

produce something. neil: do you ever worry that the expectations are too high? >> absolutely and that was the fear of disney's minds too and they worked to keep expectations low. neil: 4100 theaters are playing around the clock? >> yeah. it has to do big numbers. neil: and it has to have of repeat business to beat records; right? >> and a lot of parents bringing their kids. neil: oh, sake. really? >> yes. neil: all right. that's surprising, michael, you heard it there, michael, one of the best movie reads i know. disaster. >> you really hurting me to the folks at disney. neil: dressed up as one of the characters, he couldn't be bothered. >> you're going to be siegel vin and the chipmunks. neil: yes. goal vin

. neil: all right. they're moving fast and furious on the house right now to try to get some stuff done, so i guess they could see the star wars flick. but right now they're debating this on the spending package of tax portion approved and that was expected in the house. but growing concerns as to whether there will be enough democratic votes to get over the finish line. joining us right now rill republican congressman peter, he's on a part of this push here to see that whatever we do, everyone sticks to figures that are in there. congressman, how would you handicap getting this thing

done to avoid a shutdown? >> i think it's more likely true than not true that the whole package gets passed. we just saw a big bipartisan vote acknowledging that's the easier lift but i think there are a lot of folks that are looking at this larger government funding package and realizing the limitations and the inherent disappointments but there are some in there for those who are opposed to favor it. so i think this gets done tomorrow. neil: you do. so then it goes to the senate; right? >> then it goes to the senate and whatever happens over there, neil, the misty, smoky mountain of the united states senate and all its mystery is something i have no capacity to predict. but i do think -- i'm teasing. but i do think there is a high likelihood that this thing gets reconciled. neil: what did nancy mean when she was saying she was concerned about having enough

democratic votes, was she speaking about what's going on where you are or the senate or not enough votes in the democratic side to counter conservative republicans who recoil at the spending that will technically increase in this. >> so i think that there is a couple of things that are happening. one is i think there are some surprises in that a number of conservatives are looking of voting in favor of this because it has the repeal of the ban of oil exports that they look at as a big positive. not only from a job growth point of view but also from a geostrategic point of view. and, look, if you're the minority leader, if you're nancy, it's not a affordable thing to cast undoubt that whether your party can deliver. you're doing that 24 hours in advance, you create a little bit of -- you know, i get it. i do think, though, that when it all comes down to it, there's enough pressure that this thing is reconciled, and it's done, and it's done this

week. neil: by the way, congressman, are you going to see the star wars movie? >> i think going to resist this temptation based on your fine reviews i might add. i was going to go, but i waived off on it. neil: all right. alvin and the chipmunks has -- all right. thank you, congressman, i'm kidding aside. it's always great having you. i wish you a safe holiday and a safe new year. >> and to you. neil: in the meantime he became the face of greed. a guy who overnight was starting to hike by 1,000% some drugs, lifesaving drugs, and he smirked them away. now he's been arrested on security fraud i have asthma...

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could be a missing piece for you. see if you're eligible for 12 months free at mybreo.com. connell: it is time for your fox business brief now and guess what? we're talking about oil, as we seem to every time this day. every time at -- well, it would be this day -- you know what i mean. so it's, like, $35 for oil, i should just repeat what i do every other day, saying it's down today and so are stocks, oil is down today and so are stocks, almost the seven-year low, almost all of the stocks are down in the s&p 500, just about every one of them is down, and the gas and the oil exportation names are the worst of the bunch, new field, pioneer, mobile, marathon, yeah, there you are. all down today. devon energy is one to look at because it has hit a 11.5 year low, which is brutal, marathon

oil which is a 6 1/2 year low which is brutal, the dow is down 129 and neil is back with more coast to coast in a moment

neil: with my, you know, a lot of people thought martin scowly was the face of greed, the 32-year-old who was racking up the prices of vital drugs, a lot of folks by

1,000%, oftentimes pricing a lot of people who needed this stuff very badly right out of the market. now he's been arrested on securities fraud having nothing to do with the companies running now but a company he used to run. and he's in a world of hurt, lizzie macdonald with us, connell mcshane, melissa francis. what happened? >> what happened was this dates back to 2009, he was running a ponzi scheme, takes in about $3 million, two years totally wiped out. a year later he's telling investors, oh, we're getting 79% return, no money was in there. at the same time he's taking money out of a hedge fund for office rent, clothing, for food, for personal expenses, cash; right? so when the hedge fund investors start complaining they're, like, we want our money, he starts paying them with shares in a biotech he was running called retrofin. so this is a classic ponzi scheme. neil: all right. now, did this come to light separate from what he was doing that was making such a

controversial figure by the likes and bad way hillary clinton and the democrats said this is -- this guy is just evil. liz: yeah, that's right he's a poster executive for drug price gouging. neil: but this was a separate issue. this would have come to light anyway -- regardless. liz: yes, because retrofin itself sued -- kicked him out as chief executive and then sued him. so that -- basically spun out from the retrofin action from martin. he basically alluded the company, even drug price gouging even at that very same company retrofin. melissa: neil, you're trying to make the point possibly getting all of this attention from this other behavior that he's doing, maybe brought the light on him. i think whacking up the price of that drug was the cherry on top of this guy's behavior. neil: remember when what he said, i guess we talked to maria bartiromo, did he ever do that? melissa: i don't know if he did but watching that interview, some of the points

he made were decent. and that's what's amazing about it, and that's what comes to light with all of these guys later down the road. this makes bernie look but when you watch this interview he was talking about it was not a great job, an older drug and jacking up the price there will be more research. connell: right, well, then they said -- maria said, well, they have another drug coming in that's going to compete so it's going to be a cheaper drug. and then he said, well, mine's better than that one. liz: and, neil, just the health care conference a couple months ago he still was saying i need to raise my drug prices. i'm going to raise them even higher because that's what my investors want. connell: so much hate. neil: much of the argument to melissa's point, but the whole justify absorbent prices for some drugs, they will always say, well, you know, they cost billions to produce. melissa: right. neil: and we have to make our money back.

i think what made his case unique was that there was no beyond a lot of these drugs, it just didn't make sense. melissa: it didn't make sense but you know down the road it's all going to get lumped together and they going to say remember that guy. neil: and he will become the poster child. melissa: that he's a crook right. connell: right. melissa: and it doesn't speak to other drugs that come along where initially make a lot of money on the drug to make up for the fact. neil: he made a lot of hillary clintons commercials. connell: he ruins it for everyone else. liz: what he was doing was basically looking for the drugs that people were ignoring and then bringing them back into the market and then increasing them 50 followed. melissa: right. liz: so that's what he -- that was his business model but behind the scenes he was running a ponzi scheme that benefited himself. connell: that's why people in his industry hate him so much. if you want to make yourself laugh, just google the guy's name and look at all the stuff that's being said about him online. but one person did say a funny comment, someone said the bail

is 500,000 but the judge said, no, let's make it 27 million. neil: tragic but funny. melissa: also the gold-plated ipad there, is that a solid bar of gold,. connell: do you have a problem with that? melissa: i haven't seen that before. connell: that's a star wars ipad. melissa: where do you get that? were they handing that out in the lobby, and i missed it? . neil: this is a yoda ipad. liz: may the force be with you and also with you. neil: oh, you go. all right. we're going to tell you, these guys are going to weigh in on star wars and why they all feel as i do it's a complete and total disaster if unless the film makes a billion dollars this weekend, it go has failure written all over it. i'm talking titanic, not the movie, the ship. after this

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neil: all right. you probably heard the news. one of the worst critiqued movies of all times, i'm talking about the latest star wars movie. i'm kidding. it's -- melissa: waterworld? . neil: kidding it's getting good reviews i guess, it's this weekend but i was thinking about this movie that some of you can judge from the not so nice e-mails i've been receiving -- and i'm back with my friends and cohorts here. disney spent $4 billion for lucas. melissa: bargain. bargain. neil: they expect to make half of that with just this movie over course. melissa: i've spent more than that on merchandise in my own house. star wars everything for my kids. bought two sets of the movie tickets for the whole family. i am forcing the force, no, they love it, are you kidding me? we have star wars everywhere.

my husband started it. you're right. to be fair. i got sucked in along the way. my five-year-old sleeps with a light saber, he's got the luke skywalker outfit that he wears around everywhere, my oldest one is smart, there was a pretty girl at school that was dressing solarsed he could dress up and attach -- neil: that wouldn't work. liz: would you see the movie in 3d with all the laser guns? my god. neil: would you? liz: yeah, i would actually. i'm excited to see it. are you, connell? connell: no, i'm not. neil: are your kids demanding to see it? connell: no, they're -- no. they're just nearly as cynical as i am. neil: really? melissa: that's tragic. coming. connell: i don't even know what we talk about in our house but that hasn't even come up once. neil: the 76th anniversary of gone with the wind, which i guess inflation terms is the

most popular movie of all time. connell: now, did you like gone with the wind? . neil: i did. connell: good. neil: i knew gone with the wind. a friend of mine. darth vader is no one. connell: right. neil: but really the expectations are beyond the beyond. melissa: you guys are all lunatics, i don't know what planet i'm talking to. there is a halloween picture on my twitter feed -- neil: it was a dark and stormy night. liz: what other blockbuster megamovie is out there like that? there's no other blockbuster holiday movie. neil: if it doesn't make a billion dollars this weekend, it is a failure. connell: is that your prediction? liz: that's your prediction? melissa: i'm doing my best to help with that. we have two full sets of tickets for my family, going to the imax, going to the -- neil: you don't think it's overhyped,. melissa: not possible. neil: there have been others to say that if it had damning reviews, it would be one thing, but it's getting pretty good reviews and the argument

is it gets people who remember the originals coming back with their kids. the whole thing is sickening to me but that's the argument. melissa: the second fleet of movies were really bad after at originals. neil: by the way, the one that -- there's so many. melissa: bigs? . neil: r2-d2? yoda's not around. yoda's dead. liz: yoda's dead. neil: and yoda was one of the few i like. liz: well, neil, you're going to have to put up with this because there's going to be four more star wars movies. neil: not if we kill it now. no, it's expected to go very well. is that your expectation? liz: yes. , yes. neil: what do you guys think? liz: double-digit billions. neil: no, this weekend. melissa: 200 million plus. neil: the record is 84 million for december opening. and that was one of the hobbit ones; right? liz: 127.8. melissa: 210 million and i'm

not saying that just because i dressed up my baby girl as yoda. neil: now, you went to -- what was it last weekend? melissa: disney 100 jingle ball. neil: see this is -- we do the hiring process here, this is the stuff that escapes us. melissa: you weren't at jingle ball? liz: did you increase dress up? melissa: well, in my go out clothes, which is like dressing up. melissa: can i go? i have a show soon. can i go? connell: your go out clothes? what is that? melissa: now i'm embarrassed. i'm leaving. neil: i'm trying to think of how i do that. connell: when are we going, neil? . neil: after this. connell: midnight? . neil: close

. . . .

neil: we're getting a lot of emails, my review of "star wars," a movie i haven't seen but i'm sure it's horrible. win viewer, writes, cavuto did

you ever have a childhood? i seriously doubt it. you're an idiot. his name is sam. the cavuto, it is called "the force awakens." may i suggest you are your movie be called, permanently dead. really? really? the movie stinks. take that. trish: wow, you're not supposed to mess with "star wars" fans. it is all-out war. neil: i'm finding out. all right. to. trish: breaking this hour, everyone, president obama ramping up homeland security tour, insisting his plan to fight isis is working. welcome to "the intelligence report," i'm trish regan. president obama speaking to the american public from the national counterterrorism center in virginia about his victories in the fight against isis. listen to this. >> we're hitting isil harder than ever in syria and iraq. we're taking out their leaders. our partners on the ground are fighting to push isil back and isil has been losing ter