change issues, he champions those issues, and ivanka trump said she wanted to deal with those issues. stuart: you never know what's going to happen, look at that. >> or who will show up. stuart: time's up. neil cavuto, take it away. neil: thank you very much, stewart. we are keeping a close eye on this bearing manufacturer out of the midwest that is right now the subject of donald trump's tweets back and forth because it wants to move 300 jobs south of the border or overseas in e theal. idea, but he's been getting a great deal of heckling from fellow republican sarah palin saying, among others, that even what he did in the case of carrier air conditioners sort of reeks of crony capitalism. then you have republican ben sass, senator from the fine state of nebraska, who was tweeting out his own misgivings, saying president-elect trump certainly means well, but his word that a 35% tariff will only

raise prices on american families. never theless, donald trump shows no signs of blinking or backing down on this. to former bush 43 special assistant ron christie, washington examiner's susan ferrechio and, of course, charlie gasparino. charlie, you and i were getting into this last week, that it could cut both ways. you save jobs, but you also raise concerns that you're going to do this every time, which could be good if you keep saving jobs, but you are intrinsically picking favorites here, and that concerns a lot of republicans, right? >> yeah, and you're hurting stock prices. we should point out that john f. kennedy did this with u.s. steel back in the day and brought them not to their knees, but they came back. he wanted some price controls on some of their products, and from what i remember -- neil: by the way, the u.s. steel willy-nilly raised prices, he gives a big speech, follows up with a phone call. bottom line, they rescind those highs prescribing -- price hikes. >> we've been talking to lawyers.

if you to notice the share price of rexall went down dramatically after those tweets on sunday. if donald trump goes out and picks out companies and starts manipulating their stocks, starts driving their stock down, you know, that's getting to a point where, you know, it opens it up for class action lawsuits. because you are actually hurting a company, going out there to drive the stock down, hurt the shareholders to advance a political agenda. you know, it gets into gray areas. now, i don't think the sec is going to launch an investigation into trump just yet, but you are getting into an interesting legal gray area if that is his intent, to drive down the stock price to basically force these companies to the table. that's not me saying it, that's a lot of lawyers we've been talking to today, neil. neil: susan, what to you make of that? obviously, you know, donald trump is kind of damned if he does, damned if he doesn't. if he did nothing, then he would be faulted for letting this happen. he's just president-elect right now. if he goes to the degree he has,

as charlie points out, some are going to argue you're messing with capitalism and the free flow of money and trying to strongarm it. second just as easily say, well, i'm just reminding them. give me time. i'm trying to remind them i'm going to lower taxes, lower regulations, if you must leave, could you wait it out and see how i do? >> well, he has a messaging advantage here because no other administration has done anything really to stop the outflow of jobs, and he ran on this. he said i'm going to keep jobs in america. what's the first thing he does? he strikes a deal with a company the keep hundreds of jobs in america. so getting down to these tariffs or threats of a tariff for outgoing companies, i just came from a meeting on capitol hill where the majority leader said that he really doesn't support the idea of a tariff, and he doesn't really think the idea of a tariff is going to sell well on capitol hill. i think we can all agree on that -- neil: right, just the threat of it, and that would get the companies to think twice, right? that's what he hopes. >> to circumvent all this, neil,

of course, tax reform. if they make it more attractive for companies to remain here, we're not going to be watching them, you know, flee to mexico. and i think that's how republicans get around the -- neil: i get what you're saying, it is a slippery slope. i welcome any president, let alone a president-elect who goes out of his way to save jobs, but it can boomerang on you. his pitch, and maybe you know better than i, i'm going to dramatically lower taxes and regulations, you'd be crazy to lee in the middle of an environment like this where i'm going to do all that for you. that's one thing. but can he using the strong arm of government and threats to get another thing? >> well, good afternoon, neil. that is exactly the slippery slope that i'm worried about. i'm glad that he had the opportunity to speak with the ceo of united technologies and keep those jobs where they were, but on the other hand, the president of the united states should not be picking winners and losers. president of the united states should not be with impacting what is, frankly, what we do best here in the united states which is a capital market -- neil: but is he picking winners

and losers? what if he applied this across all industries, all who are considering leaving whether you're a bearings manufacturer or you make solar panels? >> no, he shouldn't do it. let me answer this, he shouldn't do it because the president of the united states should not be saying if you leave, i'm going to retaliate against you, or if you think about leaving, i'm going to take retribution against you. that's not what our leader, the president of the united states, should be doing. >> and is it legal? i will just say this, listen, the president of the united states does not have, you know, cannot spend all day be all night calling up companies or tweeting about companies that are about to leave. there are lots of companies that are public that are looking to do this. the question is if he picks out a few and goes out there and says you're going to get screwed if you do this, the stock goes down 20%, and he basically -- it's basically a form of strongarming -- neil: that's the risk the company is taking by even

considering it, right? >> he's got to know, if the president goes out of you, he's got to know he's manipulating the stock downward -- neil: i hear what you're saying, charlie, but, susan, the way i would look at it, is there any harm -- and maybe it's just beneath the office, we're told, certainly beneath the time and effort of a president-elect, to call to save american jobs? whatever the heck happens to the stock price or to call to remind them and send a message to everybody else i am, i mean it when i say i want to save american jobs, i mean it when i say i'm going to do everything in my power to avoid that happening? if these companies still leave after all i do and after every measure i've taken, that's what they want to do, i'm not serious about tariffs -- if that's the interpretation -- so be it? what's wrong with the president, president-elect in this case, doing everything he can to avoid that? >> well, if he stems the outflow of jobs, he keeps jobs in america, nothing. nothing's wrong with that. neil: all right. >> but he's not. [laughter] neil: we don't know. >> so far he has.

he has so far. neil: 1100 people in indiana are looking at a christmas -- >> but, you know, neil -- neil: -- they weren't looking at before. >> you're right on the numbers on that specific case, but is he going to go down the line to every company and say, okay -- neil: yes, yes, every single one. [laughter] i give him a list every day. new jersey is going to lay off four people. >> if he does, neil, it's the wrong thing to do. neil: it's what? >> it's the wrong thing to do. i'm with brother gasparino on this. [laughter] neil: i don't know what got you all -- seriously, it's an interesting debate, isn't it? thank you very, very much. meanwhile, i don't know if any of these guys are interested in secretary of state, but they might as well apply, because it's grown by another four names, jon huntsman jr., rex tillerson, james -- [inaudible] the former u.s. navy admiral, representative dana rohrabacher, california, on and on, and that's to the list that's already there.

blake burman with what is going on here and whether it's a sign that he's gotten cool on mitt romney or what? what are you hearing, buddy? >> reporter: well, you'll remember, neil, last week that there were four candidates in the mix for secretary of state. that was from the official transition folks here inside trump tower. however, as you just read off some of the names, it appears that list has doubled from that initial four count. here are some of the names we are hearing that are reportedly under consideration to become the nation's top diplomat or at least nominated by the president-elect. among them, rex tillerson. he, as you know, is the ceo of exxonmobil. jon huntsman, former presidential candidate. retire add miller james stavridis, joe manchin, he is a senator and he is a democrat. he is also reportedly under consideration along with dana rohrabacher, a congressman from california who says he has been in talks with the trump folks as well.

huntsman appeared here on the fox business network earlier today, spoke with maria bartiromo, and he was very complimentary of the president-elect. listen. >> it says something about the president-elect that he's taking this job very seriously, he's reviewing the candidates, he's looking at the issues, he's bringing in different voices who maybe look -- see differently america's role in the world, and that's a good thing. this is not a position that should be forced on anybody. >> reporter: as for tiller orson, neil, he will be here at trump tower tomorrow meeting with the president-elect. and you might ask what does the ceo of exxonmobil have anything to do with being the next potential secretary of state? well, some who might back him would point to the fact that his companies has dealings with 50-plus countries all over the world. however, critics would also point to his ties with russia and with vladimir putin. by the way, one meeting underway right now at trump tower that is very interesting, al gore. the former vice president here

at the power, and he is meeting with ivanka trump, neil. they are talking about climate issues. never a dull moment here. back to you. neil: are you sure he won't eventually meet with donald trump? what are we hearing? >> reporter: he was asked -- the transition folks were asked about that, will he go across the hall or go across the room, whatever they do inside of trump tower, and meet with the president-elect, and we were told, no, that at least as of now there is no scheduled meeting between gore and the president-elect, neil. neil: absolutely amazing. all right, blakeing thank you very much. blake burman. all right, you know, we were the first to seize on some interesting comments that we were hearing out of steve mnuchin, the incoming treasury secretary, about this tax plan supposedly favoring the rich, and that they'd make a lot of money. turns out that mnuchin is very serious as is, apparently, the president-elect to limit their deductions to the point that it offsets whatever bang for the lower tax-cutting buck that they are getting.

so net-net, the rich aren't going to see anything. how does a billionaire co-founder of home depot feel about that? we'll ask him, because bernie ma cuts is here and only here. ♪ ♪ [vo] quickbooks introduces jeanette and her new mobile wedding business. at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and ta-da, paid twice as fast! see how at quickbooks-dot-com.

neil: do you think that's a good idea, reduce taxes in all brackets? that's what donald trump's talking about. >> i will say my -- it's a complex system. if you ask my sort of general opinion, independent of the facts, in the long run i do think it's nice if the budget balances. and there are a lot of ways to get the budget to balance. neil: all right. that was former microsoft ceo steve ballmer saying that he'd be open to tax cuts, but for one thing, he doesn't need one.

he's worth $24 billion, neither does the home depot co-founder, bernie marcus. bernie, one of the things ballmer was indicating was, hey, we do have this deaf fit and -- deficit, and there's only so much we can do can. i reminded him good thing because it looks like the tax cut presumably for the upper income won't pan out to be a tax cut, that with deduction cutoffs and the like, they'll end up paying more. what do you make of all this? >> i think that the wealthy should pay more. i mean, it's not an issue for me, frankly -- neil: they already do pay more. >> well, they already pay the majority. but let's go back to the real issue. trump was voted in for one reason only, and that's because the democrats forgot that working america is suffering, that these people out there who are working for jobs have had less money in their payroll for the last eight years. their expenses have gone up with obamacare and everything else and, you know, when they come up

with a program, it's going to be geared to them. that's number one. number two, we know that -- i think the number, neil, is 95 million people are out of the work force, and i think that we need to create jobs in america. so whatever the tax cut, whatever this tax program's going to be -- and, by the way, it's going to go through the house, it's going to go through the senate, and trump will be involved with it -- i think that all of their focus is based on the conversations i've had with them is get america working begun. get people back in jobs. repatriate the money that's sitting overseas that could be creating jobs here. and i think when you see the final tax cold, it's going to be based on that. now, one of the things that i would love to see is schumer, who i thought is a pretty smart guy. nancy pelosi maybe not so bright, but schumer backing something -- neil: chuck schumer or, the new york senator who's going to be leading the democrats. >> yeah, yeah. this is unlike harry reid who

basically stopped everything from happening. but i think that chuck schumer will have to understand they lost the race x why they lost the race was because they didn't care about working america. and and i think that's the group that we have to worry about. as far as the money for the wealthy, look, no matter what happens if it's lowering corporate rates, the -- corporate tax rates, the wealthy are going to benefit by it. and typically what they do is reinvest back into society. so i think all of that is to create jobs. the key here is to create -- look, we have something like, neil, i think there's 400,000 people working at home depot. these kids have not had a break, these kids are making less money than they ever did before because more is coming out of their payroll. and i think that that's who we're concerned about, working america. and i think that -- neil: you know, barack obama said that it's easy for companies like home depot to raise their wages. you say what? >> well, come on. barack obama never worked for a

living, so he doesn't have a clue of how you make money. in the retail business or any other business, nor did clinton. but that's an old show. and we don't want to go there anymore. the key is i think that he's done a brilliant job in bringing people into this administration who understand that what the economics are. we do have a national debt we have to deal with, but let's look at -- neil: how would you get it under control, or would you? we're looking at, like you say, $20 trillion. you can partially grow your way out of it but not entirely. what would you do? >> neil, i think that, number one, i don't think they're going to knock the debt down in a short period of time. neil: i agree. >> i think that money has to be invested in the economy, and i think that cutting, cutting back and not creating jobs is not going to do it. so i'm not going to worry about the deficit at this moment. neil: when you investment invese

economy, a lot of people are criticizing what trump has been doing with these companies, now trying to prevent them from leaving. conservatives have been saying, bernie, hey, that's playing favorites, no different than this president favoring solar companies like solyndra. you say what? >> well, i -- no, no, i don't think so. i think that his mind is in the right place. and, look, he can only -- he can threaten as much as he wants. the truth of the matter is that everything has to go through the congress. i think what he's saying to these companies, which i think is critically important, is part of the reason you're leaving is because your taxes are too high -- neil: right, right. >> -- number one, which is major. number two, neil, we don't know what the regulations are costing these companies. it's unbelievable. i speak to bank, i speak to bank presidents, i speak to ceos all the time. you cannot believe what the cost of regulations is accomplishing in this country. it's stifling business. so what he's saying is, hey,

look guys, think about this twice. i am going to get rid of regulations, i am going to bring the tax rate back. why do you want to leave? now, if they need a little push on the side by saying, you know, you're going to be punished for it, etc., etc., i don't think that's the critical part. i think the critical part is we're going to lower your taxes and fete rid of the regulations -- and get rid of the regulations. you're going to be able -- the reason you're leaving is for those two, so why would you want to leave? neil: do you think that what donald trump is doing as a president-elect is a sign that he is going to be really off to the races on day one when he is sworn in? that goes into a weekend. a lot of people seem to take it as a given he's going to work right through the weekend, he's going to have a very busy hundred days, and that's what everyone is expecting. are you? >> donald, this -- donald trump has more energy than anybody i've ever met in my entire life. i think that he works nonstop, and i think once he starts on something, he's going to finish it. and i think anybody who's

joining his administration is going to work the same way. this is not going to be a laissez-faire type of thing. it's going to be high price, high movement, high definition and high results. and he wants results, and he's going to see it. listen, if you go back and you look at, if you look at the races and see how tight these races were in colorado and pennsylvania, massachusetts, all of these races were very, very close, the american people have basically said to donald trump, look, we're going to give you a shot. you promised all of these things. if you can produce it, we're going to put you back for the next four years after this. if not, you're not going to get it. and i don't think that's the reason he's doing it. i think he's doing it because he wants to really -- i think it started out as a, as a kind of a lark, but i think -- neil: no lark now. >> he's got a chance to do something. he really has an opportunity. neil: all right. >> he's made great moves so far. i mean, i'm overjoyed by the

moves that he's made, especially the education. neil: yeah. some very promising signs there. always good talking to you, bernie, thank you very much. bernie marcus. >> all right. good seeing you. neil: imagine if you announced to your company, i am out of here, and the place just collapses into applause and does terrific? how would you feel? a humbling experience. how would you like to be the prime minister of italy, and you say you're resigning because you lose a crucial measure and the markets are rejoicing? i actually know the italian word for, oh, no, you didn't. [laughter] and i'll tell you after this. ♪ ♪ [vo] is it a force of nature? or a sales event? the season of audi sales event is here.

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neil: all right, we are just getting word that north carolina governor pat mccrory more than three weeks after the election has now conceded that election. he was losing by a razor thin margin, about 8-10,000 votes, some put it as few as 4,000 votes.

the clearing the way for democrat roy cooper to be the declared winner. again, governor mccrory has conceded the race and move on to other things, we just don't know what those other things will be. half a globe away in what was thought to be a world that would have been thought to be in financial tatters after the country rejected the prime minister's plans to the streamline government didn't happen, so he offered his resignation, and he's what's insulting. he's what's insulting. not only are they happily taking it, they're buying on the fact. so when i said, oh, no you didn't, the italian here is -- [speaking italian] oh, no, you didn't. [laughter] i'm half italian. it's free, basic cable. gary, what do you make of the reaction here? it's like the markets are saying, no big deal. what codo you make of it -- what do you make of it? >> i think after all the talk about brexit where the end of

the world's coming, trump, the market was going to crash, i think people have had enough with all that talk, and this guy's out, somebody else will come in, and the world will continue going forward. markets shrug it off completely. neil: all right, now it's interesting because i think most predicted the outcome that it would be rejected by voters, and it was handily. where a lot of the experts got it wrong was that the markets would tank even on that expectation. why don't you think that happened? obviously, the fallout for italy and italian banks isn't good, but it seemed to be a very limited contagion because even those banks by the end of the day had pared their losses in half and their bank index kind of stabilized. >> yeah. i think these so-called experts have an agenda, an all ulterior motive for telling you things are going to be bad because of it, so i think you've got to be careful about that. leave no doubt, nothing has changed in europe, nothing has

changed in italy. there's still massive debt and deficits that are being covered up by the printing of money and negative interest rates to keep things better for now. eventually, there's going to be heck to pay, and somebody's going to end up paying. it's not going to be good at the end of the road. neil: everyone sort of worries about the same thing, that we're going to have more of this next year, a lot more radical thinking, populist thinking, trump-like thinking will be the, you know, kind of the rule of thumb next year x there are only so many of these that markets can weather. what do you think of that? >> well, look, next year's going to be germany, next year's going to be france. but if these countries and us can come together and fix this massive, gargantuan debt in government problem, things will get better. the biggest problem, you know, debt -- it's called government debt, the growth of government around the world has just crushed the ability for economies to grow. and if people can see the light at the end of the tunnel, i think that's why things get better.

i think that's what you're seeing with trump right now, that maybe things could get better. maybe he's going to be the worst president in the history of time, but we need to change the trajectory. under obama $9 trillion of new debt, tons of regulations, that crushes the ability and leave no doubt our markets here are raising the price on everything economic, neil. anything that has to do with a strong economy is flying to the upside right now, and anything to do with less regulations, mainly financials with dodd-frank going to the upside, so the market's speaking loud and clear and, hopefully, that continues. and hopefully, they come through. neil: yeah. the only victim right now appears to be the italian prime minister. gary, thank you very, very much. >> pleasure, thank you. neil: by the way, we did call the italian prime minister's office for some comment on this. we did get this -- [speaking italian] do you want fries with that? which could be his next job. he's, work in fast food in italy. they, they're not big on fries

there. [laughter] we'll have more after this.

see mick we had had offers. i would say that is one of the offers and that is on the table. on the show the good news was

the rough translation of the he said it here first he was interested in running housing and urban development. and what he brings to the job. he reminded me growing up in the school of hard knocks. that gives you pretty good background in something. i know you know how to say no he didn't. i have to learn how to say yes he did. he did accept the nomination and it's exciting. we have a lot of people coming back to as insane the guys not qualified. what were rethinking. and people who had that point of view don't understand how washington works.

these are given to those who trust. they surround themselves with deputies who have know how to execute. that clearly was the case. i would argue obviously his upbringing asked him very well suited the social experiments to achieve racial equality he has a fascinating perspective. and the perspective of the guy who studied it. a lot of african-americans they will not try to tip the housing scales. >> we have seen this. between the rich and the poor. it could easily beat the standards.

not so much on the other side. and very little he might do to encourage that good or bad thing. >> i can see how they come to that kind of reaction to it. one of the things that dr. carson is can i do he will raise the profile of that organization. the only time you hear about it is when they are done selling some lawsuit. and the issue from that is it does not help achieve that. with the homeownership and financing. in this case and obviously having the ear of the president is can create a situation where you're going to unburden lenders from all of the regulatory cost when you will unburden them with the uncertainty that they're currently dealing with for what would be

footfalls. do you encourage them to take risks. 20% down. you save up for home and get back to basics here. i certainly understand where that is coming from. you are seeing now under the trumpet administration. they're talking about urban renewal. housing is an economic driver. this is not about fairness this is about darn good macroeconomics. i guess the rap against the incoming trumpet administration is that he won't care about that.

the potential homeowners as well. this is about equal opportunity. it's not about equal outcome. we're trying to give people the opportunity for success in responsible ways to remove those barriers. that will require that cooperation. do we need them. it's time to go. >> there are fundamental issues. they are different than dealing. clearly others have a point of view it is indentured

servitude. someone argue is an un-american status of these still privately held organizations and needs to be resolved. they are very different than the fundamental issues that hud is dealing with. lowering the cost of participating in the programs. it's the free market. you take your risk accordingly. thank you very much. he did not call it that. but boy are they giving him a lot of grief for that phone call. donald trump is now doubling down we will explain. but thinkorswim already lets you create custom alerts

for all the things that are important to you. shhh. alerts on anything at all? not only that, you can act on that opportunity with just one tap right from the alert. wow, i guess we don't need the kid anymore. custom alerts on thinkorswim. only at td ameritrade.

they have up over a hundred points today. another lifetime high. they gained over 7%. we have up here is once again. the highest in 17 months. shrugging off what happened in italy.

they're hitting 52 week highs. we know it's a great sector overall. here also looking at some of the financial related needs. looking at some lease year letter.

we know and this was coming.

now we are getting word that the japanese prime minister will be returning the favor. it marks the 76 anniversary. it will not occur. later this month right after christmas. donald trump is doubling down on the taiwan call that has a lot of people wondering if it still exists. right now the white house is expanding -- responding to this. it still in place. i can confirm that u.s. officials have been in touch with their chinese counterparts to reintegrate the continued commitment to one china policy. >> the former navy seal on

what this means. i guess we will begin with you. i caught a number of actions here. i did not realize that this was merely a case of the u.s. accepting china in taiwan in agreement to this policy not that we necessarily endorse that policy is that true? >> i feel like were on the playground. he took the call for someone saying congratulations. this is a fraction of china that's broken away and essentially been trying to run as a sovereign nation. the military ramifications here is that they had decided to use less than peaceful means.

>> i think that's a good point. both of them had agreed ever since they received 2 million canteen members. there was actually only one china. the government in taiwan operated under that fiction itself. as long as neither side makes some sort of move than our policy is we will continue to support this one china approach. there's pressure to move more towards independence in for donald trump to say something or do something which was out of line i'm not sure that was hidden intention. in general i guess well had to wait and see. we are learning now that it wasn't just a big accident. he knew they wanted to get

this call they knew in fact the repercussions and in care. this doesn't legitimize them as a sovereign nation. is he sending a signal call. i think he's gonna say working to be a little bit tougher. this is a chance for donald trump to flex up a little bit when i can and do things the old way anymore. a new sheriff is in town. everybody makes a big deal about the fact that donald trump is acting provocatively when in fact they had been acting pretty proactively. to say nothing of how it has

fixed its currency and manipulated trade between our country. they are hardly once to lecture anyone you think. what do you make of that. >> i think that's fair. if he said were going to reverse our position that would be a big deal. that's not what he's done. i don't think it signals there's going to be some break off. where we should be taking a bit of a harder line. i like the phrase that gary just used. and then we will see what comes after that. i don't think it reflects that work and have we can have a dramatic change in our position on the one china policy.

do you worry about any of this or is it a good development and he's planed by a different set of rules this is the way it's gonna be. he made a career breaking the status quo and i think this is right in line with this. taiwan has a 300,000 standing person army right now. it is a statement to be made that they have some sovereignty to themselves. great seeing you. >> we wondered if they were cooking up something different lee here. now we know what they're cooking up. self driving cars.

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>> apple is confirming that is looking at the software between -- behind self driving cars. what this could mean. i was looking at this and i have to ask you for apple it's long been rumored but others are doing this. is apple just late here? >> they're not necessarily lead to the game because everybody is still in the early stages. i also don't think it's gonna be an apple car. i think there are focused more on how to meet the technology and make it better. they realized that that's a limited space. i know it's years out.

it's not as if i guess i understand the software behind it. there has been a lot of problems here. what he think. it's very early stages. but apple is good at that. and then really perfecting that. it's like they've run out of other ideas. and they laughed at the next big thing.

that was risk taking. and this doesn't seem to measure up to that caliber. it shows how far it has come. the bar of expectations. we are semi- impressed. five or ten years ago what a huge difference this would've made if we have heard this news. it's about being innovative. about the next big one thing. it's how to integrate all of these things in order to make our lives more seamless. just to have more ease and less struggle. maybe i'm missing it.

it was more his strategy to make an evolution look like a revolution. it became its revolution. eventually buying music. do you think that -- do you see anything like that in the chemical of today. you're absolutely right. i think that is our job as marketers. it's what we do it day day in and day out. for apple i think it's interesting the bar is so much higher. on how innovative things were. technology overall has changed. it is competing with google and facebook. that's what they did.

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it is not the end of the world. that was a little italian there. are you just wait until i come to you. his version of italian is like menu items. this is in response to what happened in italy. i would've made it very easy for the time prime minister to get what he wanted done.

he submitted his resignation to i don't know if he has picked an entirely or -- italian ambassador. it's like another name. the former navy director.

and about 58 others who showed up outside. here's what i understand. you sort of have this grab bag right now. you mike pence the vp elect reince preibus they want romney from what i understand. steve bannon is pushing back. kelly and in bad -- see bannon pushing back. i think they believe is that he might not be the most diplomatic person. if there is one guy that have donald's back it was rudy

giuliani. i think that's kind of like his mo. you're looking for the best possible person. and that's why in his defense he was saying is he really the best possible person. you can see the words of caution. if you do that. because he's very critical. with the markets i know it's a weird position. with a be nervous with rudy giuliani. they might be nervous about what could come from that. >> they are so fixated on the fact. and whether he goes to undo

that. it is specific companies. as i can is i can be his economic policy. >> i found it externally interesting. he was supposed to meet with dr. trump. he's going meet with them. i'm just saying that he is

less insane that is so far to the left. they might be toying with him for a position. after member he ran and got from a wall to offense. he's gone from on the campaign trail it was junk science had to tell you something about that. i think it is a crazy possibility. what you think kelly in conway would do then.

he called up romney. i just throw it out there. donald is such a liberal. that is just covered. he's not even president yet. who is going to know that. they all say horrible things to each other. something crazy. i'm to say something about your hair.

charlie gasper and i think you very much. he wants smaller government. health and human services. it's a lot of waste. senator i would imagine if you are picked for that post it would be continuing in that trend to streamline the very organizations that you guys are taking over. without be part of your goal. >> i sadly want to make sure that they get their best dollar. and they have a efficiency. his are being put behind the back of the line. if that means you have to downside suicide prevention i

think is one is really important. then we will have to think very hard about it. look at the secretary of state thing. what is going on. i think the secretary of state is the most important position there because it's can be obviously representing the president around to the world. and all of the ambassador positions they're going to take their marching orders from the secretary of state a.k.a. the president. this can be a whole different feel than what we had right now. i believe it is the most difficult job and warrants of wants the most attention as well. just a great guy.

if it doesn't we move on. now sale -- sarah palin also talked up for that position. to say the carrier jobs. not only are you reducing the corporate tax rates. it allows the cities in the states of indiana to do whatever they want with their tax dollars.

there are plenty of people that are involved in this. were you 20 years ago today. twenty years ago with irrational exuberance. he got a lot right. in real estate that would soon follow suit. he is still worried. more after this.

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how do you know when it is represented. too unexpected in prolonged contractions as they head in japan over the past decade. twenty years ago today. he was pulling what was a great nirvana. it eventually went bust. you could leverage off your home. was he simply way ahead of that or what. when we went back to that. i do remember covering the

criticism they got for missing the bill almost right afterwards. so was he said ahead of the curve. her warning about another bubble. think about what happened after the bubble. when you think about the economy today. the five largest capitalization stocks and they are internet -based companies. and then maybe he was off the mark. when he talked in the same article. the concern that was building up another one. that there's only so much the

government can and should do. with the election i think you think you can see greater economic growth. and as a result you will see bond prices will move in yields will go higher. but it's different than the internet stock bubble and coming from such a depressed rate. i think you will see us get back to normal in the u.s. a little bump is one thing. i know some the young people. and now my mortgages can be 4%. everything is what you get used to. they don't remember a lot of that. a 4% mortgage is something if you look at historical norms

would be on the lower end. we have to get to do that nor maliseet. i think our hope in our plan is in an incremental way. the markets have a lot of risen -- wisdom to them. that was the initial reaction. i didn't take the markets long to recognize that he would be a pro-business president. >> what happened to election night. it was a panic free fall to just stabilizing. i think the markets are efficient there are wisdom in the crowds. to take away all of the other discussions we just elected a president that would be pro-business. i think in the process of getting to the right outcome i

don't want to speak for him. i do certainly believe in terms of getting us through a more balanced trade. just as much as they can fall behind the curve. you sell once their president. the reality of governing will be difficult. he has the house and the senate. there is a lot of granularity within that. he would have common cause with the number of these issues. the reality of governing will be there. give a clear mission and focus

you will be optimistic. whatever he can do. it has been a nice little market. and yes to the out come. that will be taken away. i would say this. i get the great opportunity to spend a lot of time with the leading technology companies. the level of innovation is quite impressive. on the topic of h1 visas. when you have a demand for these people i think they said if we need them they will

bring them in. another technology havens is the opposite of what you think about and the rest of the country. you do not had enough people to fill the jobs that are available. so certainly if the president-elect addresses the issue i think they will be very positive. when you see the trapped cash they are in fact the technology companies. and you have this great innovative culture i think this well have a very positive impact in terms of the economy. and help us get to the three or 4% growth rate. to me the foreign policy. donald trump accepted a phone call from the leader of taiwan. she called in. they had hurt him.

when it comes to relations and then too much of the loose cannon. i always say this. look at the method in the madness. if i am the president united states of america i don't know if i would feel encumbered from taking a phone call from anybody. it's a good move. i think he's gonna start this might be a decades long u.s. policy. i think to take it is not a rash action. and to into the extent i think the washington post is doing that. finally on the markets themselves. one of the things ended with not that there is little the government can do.

what other problems arise they deal with them as they come up. nothing that will compound whatever's going on. i had been trained to run the problems. you have to let the bubble and the problem developed. you understand when you get involved and i think alan speaks to that there could be a negative negative consequences to that. you actually had to let it run its course. almond it's your job at that point. you can't slow down something. you have to believe in the markets and respond to the

failure when it's clearly a failure. thank you very much. in the meantime we have president-elect tweeting. a lot of people are saying it such a horrible thing to do. we in the media have these really fragile egos. not me. it's all coming up next. no, i picked the wrong insurance company. with new car replacement™, we'll replace the full value of your car plus depreciation. liberty mutual insurance.

so we are here to assure him that there is nothing to be afraid of. if you believe in democracy if you believe in the credibility of your victory put down your arms and your bureaucratic

obstruction. >> jill stein. a lot of people want to know to what end. it's early will make a big difference to you and some of these states. it will really move the needle. it's not about that it's about fairness. meanwhile president-elect to trump just tweeting out if the press would cover me accurately and honorably i would have far less reason to tweet. what are you saying. even if he is commenting on the middle of the night. what do you think of that. i think beating up on the political press corps has been part of his campaign message and he now wants it to be part of the message of his administration to keep his

base rallied up. it's something his base knows he likes to hear. and he likes to keep his base happy. here is where i draw the line. not that he would care. commenting on that episode. the leader of the free world and he's upset about it. you have to stop. i think they could've said that about a lot of things he has done or said. i think he has done a lot of incredible things. that is a remarkable thing. you're interfering.

1100 americans are can have a christmas thanks to donald trump. this commenting on the tv shows. i am with you. go ahead. i'm with you. but he also won the presidency. like he would've also won the popular vote. that is not particularly presidential behavior. i think he has no plans to change his behavior. people speculated that he would pivot once he became the republican nominee. there will be no pivot. see. >> i see what you're saying. i'm sure they love you.

the my point is that he is feeding into that paranoia and anger. that the press has been feeling further. but well that work. is it your sense that you can go through an entire presidency and to say i'm not telling you where were going tonight. how far can this go. i really do question the extent to which he can force this. for the most part and he showed that by totally disrespecting the press during this campaign. he did rewrite the rules largely. and because i do question the extent to which the press can exert control over him it's

can be interesting to watch. it will take a different sort of with a whole different approach. they are all in concert. they celebrate that. they are cheering. what if i told you when you see what could happen at the gas pump and sooner maybe than you think. you will not be cheering. it's all coming up after this. if you do need a mechanic, just press this. "thank you for calling hum." and if you really need help, help can find you, automatically, 24/7. because you put this, in here.

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♪ neil: all right. those dakota access pipeline protesters won. the army corps of engineers canceling that pipeline. they're very happy about it. jeff flock in north dakota with the very, very latest. hey, jeff. reporter: wish you were here. beautiful this time of year in north dakota. we are about to have a march that will take place here. you would think that after yesterday's decision by the army corps of engineers, perhaps some people thought, okay, i guess we have won, everybody can go home. that is not at all what is happening. as perhaps you can see, in the snow, these folks are, are, about to start a march toward the bridge. i don't know how well you can orient us.

we're in the snow and kind of difficult. if ben pans over the one side. you see the countryside we're in. if you to to the other side, out through this, more to the right, ben. you see the camp out there, neil, that is where these folks are staying. of course these conditions are tremendous. spin back around, ben. you will see this, this march that is taking place, to the bridge. some people had made an agreement that they would not try to confront authorities based on yesterday's decision. other people say, it is not just a matter of rerouting, they wanted pipeline stopped completely. don't want it to be here at all. a lot of military veterans here. this fellow is carrying a big sign, what does your sign, say, sir, stop deportation. >> stop deportation of military veterans and bring them on back. >> military veterans are being deported.

>> they have been deported since 1996. bill clinton signed illegal immigration act, deporting veterans. we have over 3,000 veterans deported from this country that nobody sis. we're bringing here to support our brothers fighting this oil, that shouldn't be happening. it has gone to deport veterans. i understand. i will get out of your way. thank you very much. neil, this is a coalition of protests, everything from stopping oil to protests, to deportations and as you can see, there they go. off toward the bridge. we will follow them and, this is appropriate, report on what takes place. neil: incredible. be safe, jeff. in the middle of all that. what we have not told jeff, caravan of seiu officialsen rout to north dakota. we'll see what happens there. not true. we, what he makes of all

this ancillary groups have very little to do with this oil but it is what it is. any chance that could be brought back or resurrected? all of the paperwork had been approved. all the zoning issues had been approved. now it's off. what now? >> well, this, as you see become occupy wall street on the dakotas, every environmental cause and social justice cause heading there. there is short-lived victory for the protesters. six, seven weeks, when president donald trump takes over, i can't imagine the decision being allowed to stand, this was approved by the obama administration. this was not the army corps of engineers reversing, this neil. this was clearly obama administration and justice department putting pressure on army corps of engineers they better do this. this is cheap political victory to appeal to obama's base and his legacy, it makes no sense.

these tribes were consulted at least 400 times over the these issues. and pipelines are historically very safe and, it is actually a lot safer than rail transport which is what is going to happen if the pipeline doesn't occur. absolutely logicless and scientifically no basis for in decision. neil: i wonder if the same people cheering now, if this in any way delays more oil coming to american markets and upwards of hundreds of thousands of barrels a day. they're is the distinct possibility in face of higher energy prices already, that they could go still higher? >> yes. this pipeline alone was half a million barrels of crude oil a day. it was going to be transporting. you combine that with the keystone pipeline which obama administration killed, if these decisions were allowed to stand, this would start having significant impact on our own ability to generate america-grown energy and also

for our friends and allies. neil: where does it go for now? keystone, canadians rerouted it on their own. that is not a finished deal. that is what they want to do. in this case we got whisperses from donald trump his people repush this access point and pipeline. what do you think? >> as i said, very short-lived victory. there is no way -- this wouldn't even stand in the obama administration became sort of a lame duck presidency thing. they know hillary didn't win. this was never intended, i don't know president obama had done this had hillary won instead of donald trump. this is more of stick it to donald trump and give these guys, protesters a quick victory. there is no basis for this. we're looking above-ground rail transportation instead. water issues make no sense, this will be over 90 feet under water. bill mckick bin and climate activists "new york times" are claiming this is because of the climate. this makes no sense.

the oil is coming whether the pipeline is built or not. this is big issue here as we go forward. american energy independence, president donald trump will face issues from day one. hard to imagine he will keep obama's decision here. neil: it is going to be weird. thank you very much, my friend. >> thanks, neil. neil: president-elect trump also has a tax plan that he says is going to reignite activity in this country. then there is the issue of that debt. is it going to make it worse? yeah, they're saying, yes, short term it will. we can deal with that. can you? ♪

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find clear skin... and a clearer path forward. for a different kind of medicine, ask your dermatologist about cosentyx. >> live on the floor of the new york stock exchange i'm lori rothman with your fox business brief. let's zero in on shares of amazon, in good shape with a gain so far of 2.6%, to snap a five-session losing streak as amazon introduces us to amazon go. it's a brick-and-mortar, shopping store with no checkout lines. the intention to save you a lot of time. so basically the way it works, it is got sensors arms to detect what items. they will bill to the amazon account. if you put the item back on the shelf, you won't be billed for it. it is in 1800 square foot store of amazon's hometown seattle.

another step towards changing the way we shop. let's get back to neil cavuto coast to coast.

>> i don't like to have debt. i hope our country is not holding that much debt. the debt the country is holding is debt the citizens owe.

we're borrowing money essential isly from our children, and that doesn't seem quite right and fair to me. neil: depends if you like your children on a given day i guess. but, i mean we're, spending almost $20 trillion. you can partially grow your way out of it, but you can't do that entirely, what would you do? >> neil, i think that number un, i don't think they're going to knock the debt down in a short period of time. neil: i agree. >> i think that money has to be invested in the economy and i think that cutting, cutting back and not creating jobs is not going to do it. so, i'm not going to worry about the deficit at this moment. neil: all right. that is how we role on this show. we reach out to real americans how they feel about the ongoing debt issues, so we talk to those two billionaires. donald trump's tax plan and the notion that it's going to fix those issues, national taxpayers issues president. pete, i kid but to make the

point, these guys are more or less saying, yeah, you want to deal with that but right now you also want to give the economy a goose. where do you stand? >> that is the thing about this whole situation, neil, deficits and debt don't matter until suddenly they really matter. neil: right, right. >> we don't know necessarily what point america reaches to say, our growth is too slow, we borrowed too much but here's an interesting statistic. look at the last two recesses in the early '80s and early '90s, we added nine percentage points expressed as gdp to the national debt. the recession obama's first term, two years, we added 31 points. we really don't have the capacity of borrowing to test the notion that we can afford to ignore deficits. we have to pay attention to those almost at the same time we're cutting tax, not necessarily simultaneously but

we're looking at intermedia term problems here, not long-term problems. neil: you know, you hit a brilliant point here and that is, this motion that we've been kind of getting away with financial murder because rates have been so low. that we can carry this debt but a half a point up tick in those rates can add close to trillion dollars on existing debt carried now, just like that. >> yes. neil: to say nothing what could be a normal trend towards average interest rates. i'm not scaring people but remind them, this debt isn't going away whether you try to spend your way out of it or tax your way out of it, it is not getting better. >> that's right. neil: all the solutions bandied about about tax trump to goose the economy as i said at the outset, lift up revenue coming into washington, it would get short term worse, but they argue longer term better. do you buy that?

>> not necessarily. historically there is two percentage point gap between federal spending and federal revenues. guess which one is more, consistently federal spending. the reason -- neil: even in the form of tax cuts? >> yes. neil: is that, static accounting and spending? >> right. now i would say, that tax cuts will help in the short term. the longer term drivers, i don't mean decades from now. i mean only a few years from now, the, drivers of federal spending are going to be entitlements. take a look right now. with social security, it is currently running cash deficits. the only reason it is keeping above water, it is cashing in ious. that is going to start to become an acute problem in about five to seven more years.gain, we'ret looking at decades from now. we're looking at within a decade. neil: but it is like "waiting

for gadot," but he is here. >> that's right. he is knocking on the door. neil: he is knocking on the door. i am not answering but he is knocking on the door. pete, thank you very much, so great to have you. >> my pleasure. neil: incoming national security advisor michael flynn, lieutenant colonel allen west, at trump tower. the two of them together. i believe in the case of west, meeting with mike pence. invariably these meetings move on to meet with donald trump because you're literally on the same floor. and you take pictures outside of the elevator. that's just what you do. more after this.

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♪ neil: all right. it is called the 21st century curse act and it's

committed -- cures act. committed to going africanser is and variety of other ailments. it is funded by weeding out government waste. then it gets a little dicey. gerri willis with all the details. >> hi, neil, that's right. let me tell you about the act what it is. they haim to get life-saving drugs for people suffering from ailments, intractable ailments, cancer, alzheimer's, ms. you have suffered ms. i suffered with cancer. they want to spend $6.3 billion to invest in medical research to go after this. oh by the way, opioid epidemic. they have extensive list of things they want to go after. this would be funded, get this, from existing spending mandates. so, strategic petroleum reserve, right? we used to worry about having enough oil. now the world is awash in oil? what do you do with that? we claw back money there and put it into the program. spending 6.3 billion over a

total of 10 years, a decade. i have to tell you though, while it sounds so good, a lot of people are complaining that maybe pulling away some of the rules and regulations that the fda, general has to get the drugs to market isn't a good idea. i had a chance to talk to fred upton, the congressman behind this particular bill. here is what he had to say. >> for every patient that's out there, in year one, the clock's ticking. you want a cure. and what is it that we can do to find faster cures for all these diseases? 10,000 different diseases. we have only 500 cures. 7,000 rare diseases. we can't wait. >> so a lot of families out there feel the same way, we can't wait and we need to get on it. the bill in the house, the vote was 392-26, overwhelming

approval for it there. the senate could vote as early as tonight. the white house also behind it. one of those rare moments, neil, everybody seems to come together around this bill but still there are folks who say, hey, not so fast. there is lots of gimmes here for the pharmaceutical industry. do we want to give up the kind of review we've had in the past of all these kinds of medication, treatment, all those special treatments are expecting. neil? neil: gerri willis, thank you very, very much. continued good health to you by the way. all right. let's take a real quick peek at the market and dow heading for 10th record close since donald trump was elected. more after this.

neil: all right. this has to be under the cat grow of, like, whoa. you see this earlier today at trump tower, al gore. al gore had an audience, a brief audience with ivanka trump. turns out he was on the same

floor and met with donald trump. now presumably, to discuss, you know, climate change. but me thinks something else is going on. and you might ask why. it's just a guess. i have no idea. but that's weird, right? trish regan, that's weird. trish: i'm intrigued. so what do you think is going on? neil: i don't know, it's not about climate change. [laughter] trish: thanks so much, neil. wouldn't it have been interesting to be in that meeting? president-elect donald trump interviewing more people to join his administration as neil says, what is al gore doing there? he did name rival dr. ben carson to head the department of housing and urban development, but the short list for secretary of state, it just got longer. i'm trish regan. welcome, everyone, to "the intelligence report." president-elected donald trump broadening his search for secretary of state, he is now considering the ceo of exxonmobil, rex tillerson, as well as the former u.s. ambassador to china, jon huntsman, for the job. we've got former governor mike