action-packed monday, is understatement. we had a market selloff to boot. my time is up, but, neil, sir, the time is yours. neil: when all said and done possibility the tax cuts are delayed, if they come at all is unnerving these guys. stuart: i think so. neil: we're looking at a continued selloff here. there are a lot of factors. get this in with my buddy charlie gasparino. goldman sachs leading the selloff in the the dow. this is the largest selloff this year. keep in mind stocks are up appreciably since donald trump's election. there are earnings worries and concerns this back and forth over folks who visit here, that is something that's weighing on the administration's apparent agenda. whether we'll get to it or whether it will be stymied or stopped and there is division

within the ranks, not only how to handle obamacare and to proceed with that, whether it will hurt the administration's plan to get big tax cuts going. some in the republican party are not so keen of the rollout the trump foles want. a lot is behind the scenes and under the radar where our charlie gasparino lives. thank you, my friend. >> thank you, under the radar. neil: what do you make of this, all of sudden may be the whole visa thing, you know, let's go after the bad guys from bad countries thing, whatever? it is weighing on folks who think that the agenda stalled? >> the economic agenda? neil: right. >> trying to put it in context. we hid 20,000 the other day. above 20,000. today was a good day to take profits to be honest with you. there are negative headlines. a good reason to sell. you will see a lot of program traders doing it. that said -- neil: presently expensive market by the present math.

>> here is where it gets tricky. markets are saying amateur hour from president trump there will be consequences. markets will sell off on amateur hour. i think visa is amateurish. neil: i won't characterize the first week amateurish. >> when you have something that important and screw that up. there will be consequences. doesn't mean he won't recover and markets won't recover. the other thing as you pointed out earlier, markets factor in future economic growth. if you look at a snapshot, business growth, the companies themselves don't merit a dow, earnings in the companies dow don't merit dow 21,000, right? what would merit it if you have fiscal stimulus produces that in the future. guess where is his fiscal stimulus? nowhere to be seen. where are the business tax cuts. larry kudlow, steve moore, pretty provocative article

putting this off will hurt the economy. neil: did you you read that scream for attention, guys, hello? >> behind the scenes both of those guys i know, talking to my sources particularly mr. kudlow feel screwed over. they came to trump with the tax cut plan. he won over a lost conservatives with it, guess, larry is not in the administration. was up for economic council of advisors. apparently they passed him over. his plan is on the backburner. they feel screwed over. neil: i heard the talk all of this around the travel ban is sort of taking eyes off the economic ball. >> right. neil: hadn't already that had been the case? wasn't there concern that these tax cuts could be put off, at the very least the marginal rate part of it, that that could be a 2018 event? reuters among others were reporting that? >> it was starting to get factored in the market, that would be a second half agenda item.

i think that article in the journal put the exclamation about it. they were apparently close to the trump people and talking to people in congress. they're saying if this thing doesn't come fast it will come later in the year. neil: you don't get something like that through fast. >> right. neil: you will rue the day because it is tough to do it right before midterm election. >> you're absolutely right. that is problem markets say waiting mid next year, that will never come. that is what you got today. the market will come back and forth, back and forth. one thing i always said, i don't give stock advice see what type of economic agenda comes out of the administration. we really don't know where they're headed in a lot of respects. they don't have a cabinet put together. full cabinet. mnuchin is not totally confirmed. i think he is gets confirmed today or tomorrow. treasury secretary. neil: best-case scenario, eight or nine cabinet positions filled.

>> guess what. the democrats like that. the democrats like to sow confusion. they would love markets to sell off on that type of confusion. there is political element. when he gets his team, what is the agenda where do we go? he keeps talking about cutting regulations. which once? one thing to say 75%. neil: every new one you take two out. >> which two? neil: you do that with tie. >> yeah. i get a new one. wonderful clothing program here. you should see the blouses i get. neil: i doubt i will go there. charlie gasparino, thank you, very much. charlie will be back with us later on. this travel ban is causing confusion. somalia, iraq, yemen, syria, you are growing to get a look over and then some but all the confusion around that that prompted all of these long lines over the weekend at lax and

new york's jfk international and jeff flock seeing a lot over at o'hare airport. how is it today, jeff? reporter: remains confusion although we're not seeing protests like before. i want to he show you scene at international arrivals, we have attorneys volunteering their time to assist anyone detained or government is trying to deport. the order by the court or other federal judges has precluded any deportation. it has not concluded anyone being detained. show you how big of an effort. this is whole area set up for attorneys. they number a couple dozen here to help anyone who has got a problem. over the weekend as you know, not only here at o'hare but around the country, mass demonstrations, kind of fangled fangled -- tangled travel.

but most of the people were detained, after those federal judges ruled, said that those people were released. presumably nobody in detention at the moment. in terms of protests today, the folks at o'hare set up area for protesters. i leave you with a picture of so far, two, two young ladies. if you look over there, steve. perhaps you see them. stop the ban, they say. i will leave you with this, neil, talked to one american business traveler says if you don't think the stock market selloff today is a result of this, you're crazy. he is trump supporter. i fear this sort of action that does not have widespread support, perhaps widespread opposition will interfere with the president's more important agenda, taxes, regulation and that sort of thing helpful to the business community. neil? neil: distracts them for the time-being. thank you, buddy. jeff flock in chicago. to that point, we should emphasize a number of high-tech ceos, they hire a lost foreign

workers and those with have sass and green cards. they were distressed by this, almost to a man and woman came out universally came out with move against donald trump. howard schultz, starbucks ceo, plans to hire 10,000 in the near future largely from syria, in protest move, that the corporate community embraces those from abroad but ingot point of this wasn't to say we're -- that we're not anti-immigrant. hence the attention to libya, sew palm yaw, sudan, iraq, yemen. you know the drill by now. white house is in defense over all this. he says this is not a muslim ban. it is been skewed that way as you know, sir. and i know we're in the writing of it or presentation of it do i see that. a number of people leap at the

point to say it is. it is not said that way. it is coded that way. what do you say? >> the claim this is muslim ban is idiotic and illogical because the seven countries, it is based on whether your passport is from one of those countries. you might be jewish, christian or atheist, if you carry a passport from one of these countries you will be exposed to this bar as well. furthermore 40 other countries in the world majority muslim countries. we're not barring any of them coming in. the notion this is targeted at religion is assembly false. that is what you see sometimes from the left. they want to make something what it is not. they're trying to fuel the flames of those protests which are simply ridiculous. neil: do you think though that the president could have vetted this a little better among just republicans? john mccain and lindsey graham caught off-guard, no they of the

president but might have been handled differently? >> here's the problem. so if you start circulating you know proposals for how this national security measure would be in place, you start circulating them on capitol hill, word will leak out, right. >> what you don't want to do give a warning ahead of time if a terrorist carrying visa at somalia they will impose this bar. they had to do it in abrupt fashion to stop terrorists from doing it. these seven countries are hotbeds of terrorism agreed by the obama administration and trump administration. it makes perfect sense to protect american citizens from individuals carrying passports this is 90-day bar. look, we'll impose special scrutiny here. we should. in the first 24 hours it, was 109 individuals stopped at american airports out of325,000

entries into the united states. neil: let's talk about the countries cited here. you're quite right to point out this list of seven dangerous ones that barack obama came up with in his administration. and a number of democrats at time agreed. a third of some 90 who looked at these seven as being worrisome, yet of the 180 or so terrorist incidents we've had in this country, secretary, only 11 have involved individuals from these specific seven countries. then people say, you're even catching the wrong people with the wrong net. what do you say? >> a couple ever things. one is you're absolutely right, the sources of terrorism change with time. for example, the 9/11 hijackers, a bunch of saud dills and egyptians in that cohort. neil: right. >> things have changed. isis seems to be the place,

areas isis controls are where the they're both sucking in recruiting stair terrorists and sending them out. this list of seven may become a list of 10 six months from now, and might be different countries t has to change to reflect the realities on the ground. the other thing i would note the other part of president trump's executive order, temporary freezing of refugee program. that is so important, since the 1990s, 18 major terrorists used false refugee status into get into the united states, including the blind sheikh, two bowling green kentucky bombers, used false refugee claims. so long overdue we put a halt on refugee program and put higher vetting standards. we're the most generous country in the planet accepting new refugees we've gone too far not checking background.

so many terrorists use refugee status to get in fallsly into the united states. neil: thank you, secretary. great to have you on. >> great to be here. neil: as the secretary pointed out this is not a muslim ban. this is ban of people from countries that wish us ill. if it include ad majority of muslim nation there would be in excess of 40 countries on the list. right now, seven on this list. but again the way it is portrayed not often times to way it is. not to justify the way it was handled, vetted however you want to put it, that handling, how it was vetted weighing on the markets and i'm ponderables right now. many folks say what happens to president trump's economic agenda and tax cuts and stuff we were looking forward to, if he is sidetracked on this? is he really sidetracked on this? is that agendanow not doable. i think it has been a matter of

nine or 10 days he has been president? more after this.

neil: all right. we are just getting word now, cair the council on american-islamic relations filing a protest to ban this muslim executive order, muslim ban executive order even though the administration said this is not a muslim ban. just those from seven countries that the obama administration

itself had said they're looking at and are a worry. iran and libya, somalia, sudan, syria, iraq and yemen. the read on all of this from the former u.s. secretary of state in the clinton administration john negroponte? thanks for coming. >> the bush administration, thank you. neil: i apologize. it is monday. and i knew that. let me ask you, sir, what do you make of the dust-up the trump administration is getting on this? first off that it wasn't properly vetted and dumped on everybody with no preparation, what do you say? >> i don't buy the argument that it would represent an unnecessary risk to have allowed more time for some vetting. at least internally within the executive branch, with homeland security, state department and other relevant departments and so forth. so i think that's maybe stretching it a bit to say that would have represented an

unnecessary risk. and i think if that had been done, they might have avoided some of the glitches, like, for example, the suggestion that people who had green cards wouldn't be allowed back, which is a huge mistake. it affects literally probably hundreds of thousands, if not millions of people in this country. so yeah, i think a little more process, focus on process would have been good but what i think, if the administration were truthful bit, they would acknowledge that the reason this came out so fast they wanted to kick all these resolutions out the door during their first week in office. it was a rush to show how much got done in week number one. neil: this is the one item though, that ignited the controversy. easy to play monday morning quarterback. >> proving to be a big distraction. neil: i understand. these seven countries, if it was an anti-muslim sort of strategy here, then obviously they would

have gone for 40 countries plus that are majority muslim and they did not yet that is the rap this is getting. what do you think of that? >> no, i don't, i don't take it to be an anti-muslim measure. what i think it is a focus on the seven countries which have the most activity by al qaeda and the islamic state and most likelihood of turmoil and violence. these are the countries which are real sources of violent extremists activity. it is a pity in a way that the ban applies to iraq because after all we have many friends in iraq who we like to give special immigrant visa to for having cooperated with us previous ily and i hope that this measure doesn't make it harder for us to work in iraq in the future. neil: ambassador, i wasn't clear at the outset, what i was trying to say you were backing hillary

clinton for this job, and now you see donald trump a little more week into it. how is he doing when it comes to these kind of issues. >> i backed hillary clinton during the campaign. i am a republican but, i also believe firmly that we have only one president at a time. we've got to give his administration every support we can so that he can succeed on behalf of the administration and on behalf of all americans so my feeling is -- neil: when you hear marco rubio, sir, and lindsey graham, senator portman, and a host of others, john mccain, no surprise there, come out and rail against or at least expression caution about this, does that make you wonder about theories of this young administration's agenda or it is off to stumbling start? that happens to administration. wouldn't be the first, probably won't be the last? >> right, i have watched some of

these people on tv. i don't think rob portman was railing. it is not in his nature. he was quite measured he spoke. this is the takeoff and the ascent and it will be a bumpy ascent until we get some sort of effective cruising altitude. the question how long is it going to take them? they must realize this distracts from advancing other parts of their agenda and so they have as much of an interest as anybody in frictionless promulgation of these kinds of orders. they will have to give it a little bit more thought. neil: you probably heard that steve bannon is placed on the national security council an out would go the director of national intelligence, chairman of the joint cheese of staff. how do you feel about that. >> i read the other a couple of times. the first part of the order says both the director of national intelligence and the chairman of the jcs will be on the national security council. later on they talk about the

principles committee which is the subsidiary body which brings issues to the national security council and it says that they will be there as needed when the issues are relevant to their responsibilities. here's my forecast for you. they will attend every national security council and principles meeting because there is always an element involving the military and or intelligence and it is inconceivable to me you could have a national security council that would operate without them. as for steve bannon, i bet you he is the one not going to attend all the meetings because not all of them will be that interesting to him. neil: are there x number, rigid set number of seats, ambassador? >> no. the law establishes that it's the secretary, the president, the secretary of state, the secretary of defense and one other who i forgot now will be the statutory members of the council.

just about everybody else is pretty much by invitation. but the law also establishes both the dni and the chairman of the jcs respectfully as the principle intelligence advisor and the principle military advisor to the president of the united states. i would think that the president would want to have them on hand at all times. neil: gotcha. ambassador, thank you very much. good catching up with you. >> thank you. neil: in the meantime, this selloff ensues right now, one of the worst days, at least for the young trump administration and month of january as we wrap things up officially tomorrow. a lot has to do with earnings worries, a distraction for the trump administration from getting big tax cut agenda through. i should posit that tax-cutting agenda is being delayed or put in doubt or argued over long before this travel banish issue. while that might make a neat little sort of wrapped up kind of excuse for what is going on

here, that was out there for a while. also, we're getting increasing talk of a gop split on palm cair and how to repeal and replace it. none of these are in of themselves huge issues. they are just thorny issues that are not resolved. welcome to washington, president trump. this is a mobile trading desk, so i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices. the market's hot. sync your platform on any device with thinkorswim. only at td ameritrade. you know how painful heartburn can be. for fast-acting, long-lasting relief, try doctor recommended gaviscon. it quickly neutralizes stomach acid and helps keep acid down for hours. relieve heartburn with fast- acting, long-lasting gaviscon.

neil: all right. president trump issued his 15th executive order, memoranda, whatever you want to call it. no president has been busier starting out his administration. this aims to get handle on regulations when he was meeting with small business leaders. many gathering around with the oval office. the argument they are pelted left and right with new rules and regulations. a lot of them, a lot of which a lot of these guys don't even know. ignorance is not excuse. if you're found in violation you could spend a considerable time in court fighting it or paying a

lot of money. what essentially he is saying there has to be a way to rethink this. every regulation you come up with, you get rid of two. if you have a tie or jacket, get rid of two old ones that is the closest analogy. the tie analogy works because you don't get tied up in regulations. all on basic cable. blake burman, at white house a announcement due tomorrow night a lot earlier than was thought for the next supreme court justice of united states, what are you hearing? reporter: we have a date and place the president will announce his supreme court pick tomorrow night at 8:00. the timeline moved a little bit. last week they said it would be on thursday. now moved up to tuesday. why exactly? we're still uncertain. tomorrow night president trump unveiling his supreme court nomination. here he was at the white house earlier today talking about his choice. >> we have a big decision an

that i have made, very big decision. on the united states supreme court. a person who is unbelievely highly-respected, and i think you will be very impressed with this person. reporter: it is believed at this point the president is down to three people for that nomination. that being neil gorsuch, thomas hardiman and william pryor. all these of these people, neil, these judges fit very much the same profile. they're all u.s. circuit court judges. they were all at one point or another appointed by george w. bush, then president george w. bush. all three were born in the early to mid 1960s. that means they're approaching or in early '50s. they fit the mold. those three names have been whittled down to the end. neil? neil: is it simple majority or does it have to be 60 votes? how have they reconciled that in terms of approval? >> i believe it is just a simple majority.

this is one of the things that "the nuclear option" that democrats at one point, harry reid, it was one thing that he left alone but this will certainly be, certainly be a battle no doubt about it whoever the president chooses up there on the senate. neil: always is. republican or democrat. thank you, blake burman, at the white house here. take a look at the corner of wall and broad and the selloff that is going on here. a lot of this has to do with convenient excuse to selloff dow running up close to 10% since the election of donald trump. s&p 500 about 7.5%. give back is in order. a lot has to do with maybe the market is a little rich. it is trading, s&p 500, about 21 times earnings. that is historically rich. the average is 16. everything changes if earnings go up. if the economy picks up, then the math looks a lot better. market seems to wonder about the math and whether it does look better, after this.

neil: whether donald trump's fast start was stumbling today, you name it, people use it as a excuse to sell. iran conducting ballistic missile test, everything they said, everything the united nations wanted as part of the nuclear agreement. that didn't help. nick -- nicaragua coal petroleum

live with what is roiling traders. >> don't carry it. donald trump's first week as our president. giving some of them back today, you see the dow is down 183 points. was down 220. running to safe havens of the utilities bonds, and e and gold. this is the biggest selloff we've seen since the before the elections since. chevron pulling back a half dollar. chevron is down two bucks. saying it will give top executives fewer options. dow losers focusing on banks here. jpmorgan and goldman sachs are down 1 1/2%, roughly, this on the same day we heard that lloyd blankfein, ceo of goldman sachs, basically said and put a message out to his entire company that it is not a policy we support

pertaining to the ban on muslim countries, temporary ban. so that is something that is also front and center. we're waiting on the fed. prices going up shows stronger economy. back to you. neil: nicole, thank you very much. leaders are not parsing through fine points on the travel ban from donald trump with the seven countries involved, never mind they don't represent more than the 40 muslim countries on the face of the planet. it has been deemed anti-muslim. that is coming from the governments of france and germany and italy. even england, which said this wasn't properly vetted. all right, so foreign leaders aren't liking it. to former vice chief of staff general jack keane what he makes of all of that. they're all pouncing, saying same thing, general, not right, not thought out, good, you say what. >> radical islam is global

jihad. attacks and killings on the rise. new president in the first week, he is disturbed by the fact that americans are killed by isis in particular this country. disturbed by the boston marathon attack, san bernanadino, by florida. he doesn't want that happening while he is president of the united states and he is taking a reasonable approach and saying, i want to take a look at our screening process. i don't think it is adequate. my own officials are telling me it is not adequate. i will while doing that have a travel ban on certain countries and stop the refugee program. what is wrong with that? neil: a chance to catch up. others interpret you're only doing it with muslims. >> there are 40 plus muslim countries not affected by this this is not against muslims. tragically most of all the radical islamists last time i checked are indeed muslims. neil: the other group general goes around and truth be told, of 180 or so incidents we've had, terror attacks in this

country or elsewhere, it is been conducted by those who were either born or switched over allegiances to isis but they didn't come from any of these countries. i believe only 11 of them did. what do you say? >> well that is true, but that is not true what happened in europe. isis said from the outside that they want to be infiltrate any migration that has taken place. i think this is precautionary thing the president is doing to prevent something like that happening. thank god it hasn't happened, as it has happened in a number of european countries. listen, could he have been done a little bit better in terms of the process of it so didn't have that fiasco we saw at airports. neil: certainly there is danger vetting it. the word gets out to people that wish us ill. >> internally among the departments i think it could have been done better, i think they would probably admit that themselves. they have only been in the job a

week. so they learned -- neil: john mccain didn't waist a nanosecond pouncing on it. lindsey graham, marco rubio said he was concerned. rob portman saying it could have been done better. i'm paraphrasing. that is not everybody. that is republicans. you think they're sending a message to the president consult us? >> no. i don't think so. they're just doing their homework and sharpening the pencil a little bit and want to see the policy improved somewhat. i have a little concern about iraq because, if you do anything that forces iranians to have more influence in iraq, and this could possibly do that. that is a negative thing. also we have a lot of iraqis that train in the united states, pilots and interpreters around others. they have been an ally of ours. neil: those who we wish to have on our side in the future might think twice if this is what happens? >> neil: let me get the quick take on steve bannon, chief

strategist for the president having seat on national security council. people have raised hay about it. what do you think? >> i think first of all, a president how he goes about making his decisions is his province. if he wants his chief strategist to be a part of the formulation of policy on the national security council and also overseeing that policy, that's his choice. i don't see anything wrong with that because he wants them in that process, and he should be in that process listening to other people's views if he is going to get advice as president. neil: as much as they will, the joint chiefs of staff, top general, he has to go when that happens. is that true or can you populate it with as many as you want? >> how he constructs it is his business. neil: there aren't ironclad rules? >> there is a normal participant membership of the nsc. this president has split it between homeland security and

national security as did george bush. now i do think it is unprecedented for the chairman of the joint chiefs not to be at all the national security meetings that are held for for the principals. neil: that doesn't make sense. >> this man has 30 plus years of international experience. he led a rich life and has a unique perspective what is going on in the world. certainly want those views around the table. neil: haven't heard whether the chairman off this, director of national intelligence to make room for bannon. doesn't sound credible to me. >> we'll see. neil: general, thank you very, very much. in the meantime even before this latest dust-up over this travel ban there was a dust-up over these tax cuts, things that were considered a given might be put off. and i'm not talking late they are year. i'm talking not at all this year. why that is rattling investors after this. liberty mutual stood with me when i was too busy with the

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neil: all you need is this travel ban distraction. whatever your views on the subject, i'm not here to judge that. i'm here to say in the way washington becomes fixated on agenda, that sort of thing it gets in the way, not only revealing, replacing health care is big issue for republicans but down the road tax cuts. we whether told corporate tax cuts and changes in the marginal rates. some might be pushed back. reuters hinting it is a possibility. if this is a 2018 could this be a part of the selloff? this bonus washington poised to give wall street might be frittering away. ubs former chairman robert wolf. robert, how likely is that, do you think?

>> i think tax reform is tough. i was on the president's jobs council which is bipartisan and i'm for tax reform and spent six years on it and trying to cut taxes and have it revenue neutral is not easy. neil: so you think that will be the, we're told among some republicans when it comes to tax cut it needn't be revenue neutral. they think they get the bang for the buck later so they can swallow the fact it might not be revenue neutral in the beginning. what do you think of that? >> that is accurate. i think what the trump plan, the idea is to cut taxes and then use his growth projection to pay for the difference but that being said, now you have to also include all the spending he wants to do, for military spending, infrastructure spending, the plex can wall spending. and then you also are not cutting any of the social net, medicare, medicaid, or social security. that in itself would absolutely blow up the deficit.

the growth projections cover a little bit. growth projections start. they have a lot of work ahead of themselves. you and i chatted about the trade and idea of border tax adjustment. a lot of people aren't for that because with that you're picking winners an losers. wait a second someone says my corporate taxes are going up. neil: border tax for imports was 20%. originally it was pushed to pay for that wall. others said it might be a great way to get revenue because you could raise a lot of revenue. what do you think of that? >> i'm not really supportive of it, places like retailers and auto manufacturers, they will end up having a higher cost of goods. who do you think that gets passed to? it gets passed to the consumer. we have remember 70 plus percent of our gdp are to consumers. these costs are being passed to someone.

the whole idea of trade tariffs, i'm for free trade. it seems sometimes i am to the right of where actually a lot of these republicans economists are today. i'm for corporate tax overhaul. i'm not for trade wars an tariffs. neil: robert, curious, you're very chose friends to former president barack obama, he is on vacation, still is, golfing -- >> i wish i was with him. neil: you two share. he is keeping a low profile. that is not unusual for a former president but some in his party have been urging him to speak out against what is going right now, the travel n, all these are tailor-made for liberal, to come out and say something, even though that might rankle those who think a former president should stay quiet. what do you think? >> i spoke to him a lot in his last two weeks in office and i think the president truly believes that you have to transfer the power in very peaceful way.

i think he respected how bush 43 did it with him. i don't think you will see him, you know ringing the bell on every instance that he may or may not discan agree with. neil: he did posit the possibility if it is really something he believes in or i'm paraphrasing it he would say something? >> i think the d.r.e.a.m.ers act would be something he would probably say something but i thin president of the united states to be the voice of opposition, not the face of opposition. i don't think he is looking to be the face of opposition to the president. they have their own little fraternity as well, republican or democrat. there are only 45 of them. so they have their own fraternity. he needs to figure out how to keep his voice out there but not in the way that a lot of democrats would probably want him to do it. neil: only five men alive had the experience. robert wolf. >> thanks, neil. great to see you. neil: we're waiting for the white house briefing, latest

from sean spicer on travel ban fallout. what happened to the republican agenda. hints who the president is picked to be the next supreme court justice to replace antonin scalia. was there a litmus test? you know the drill. he is going to get drilled, after this.

neil: you know there are already saying this planned snapchat ipo, initial public offering could be the largest of the year. i don't know how they know that. they're optimistic this will be well-received and this will be a bellwether event. hillary vaughn, whether she agrees about that. hillary, we'll know soon on pricing and all that stuff, but what do you think? >> well, neil, the first big one of 2017. that is what we do know. snapchat's parent company, snap, inc., is getting ready to go public on new york stock exchange.

that is a big win for the big board. after months of anticipation, one of the world's largest social media platforms will be filing their paperwork. that means they will officially launch their ipo as planned this march. snapchat says, i'm sorry, snap, inc., is expected to be valued at 22 -- $25 billion according to reports from the latest round of funding that would make it the largest u.s. tech ipo since 2012. snapchat is making big changes and expanding their app bringing original content from abc, disney, nbc universal and turner. they are trying to lock in users and investors, about 150 million people use snapchat daily. 60% of those users are ages 13 to 34. that means big money to advertisers looking to pitch to millenials and young professionals. they launched snap spectacles for select users that get their

hand on them. the new product may have a problem similar to the samsung 7. one user they'd the case melted when plugged into charge. he said there was so much heat there could have started a fire. snapchat is addressing issue. no if the u.s. consumer product commission will investigate t could turn some investors off or question snapchat's venture into hardware. neil: thank you hillary vaughn, fox business network in las vegas. the difference how this offering will be received a lot of young people use it versus facebook. facebook stumbled out of the gate and recouped that earlier stumble and was making money hand over fist. the stock went up 10 times. that was then. this is now. could snapchat do that now? i will tell you this, this internet thing will be huge! we'll have more after this.

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>> if you have a regulation you want, number one, we're not going to approve it because it has probably already been approved in 17 forms. but we have to knock out two regulations for every new regulation. so if there's a new regulation, they have to knock out two. . neil: all right. here's the thing, though, we've got tens of thousands of federal regulations. some duplicates through the process of hundreds in one area. but the fact of the matter is president trump targeting regulations today saying maybe there's a new way to do this. every regulation we come up with, we get rid of about to. whether by executive order by memorandum, the 15th executive order, memorandum, whatever you want to call it on this administration, steve forbes, you know, steve, you talk

about this with a lot of people. they say that especially small business folks with whom the president was meeting today, this is more of a problem for them than taxes. >> well, regulations are killer. especially sought with obamacare where you were restricted a number of hours you get work, before your expenses went way up, if you grew above 50 employees. so, yes, and they don't have the departments that a big company has to cope with that kind of thing. so regulation is a form of taxation. what the president is doing today is a start. but the key is having cabinet members follow through and congress follow through starting by passing legislation that any regulation that's going to cost the economy more than $100 million a year has to be approved by congress. so they start to take responsibility for these things. neil: you know what worries me, though, a lot of people define their worth in congress, not only legislation they come up with but also regulations they come up with. so we call a do nothing congress do nothing if it's

not done anything like that. when, in fact, that might merit an award. >> well, to see how the regulatory state has mushroomed. congress passes what? 120 laws a year? regulatory agencies 3,000 rules a year having -- 3,000 force of federal law. so that's where the real problem is and today is a good first step. we know there's a problem. we've got to start really doing something about it long-term. neil: all right. i notice you're in a sling. please tell me this didn't happen because you've been fighting for these tax cuts, and they look like they're being pushed off. >> well, that's one reason why -- key reason you see what the stock market is doing today. oh, my god they may not do anything this year. and then you have republicans in the house pushing this national sales tax border sales tax, which will increase the cost of living for working americans and people wondering is this administration, is this whole new regime losing its way right at the beginning? so the one thing. neil: the sales tax out of the appeal the republicans say a bang for the tax cuts.

but it seems like -- >> when you have a new tax -- a new revenue stream, it just goes in one direction. especially since it's a hidden tax. gasoline will go up 30 cents a gallon. so you're slamming the very people that elected donald trump and people are wondering what's happening here? so they have to reestablish. get those big tax cuts down for people and for corporations. you need some cleanup later, fine. but get it done now because otherwise,. neil: the best scenario i heard, steve, before is they hope to get corporate tax reform done, maybe to bring over some democrats to it and make a bipartisan talk about an infrastructure plan and then deal with the marginal tax rates later. what do you think of that? >> it sounds very nice and tidy, and you will get democrats supporting the corporate side, so you can do them two simultaneously. but to do business first and then say we'll do people later, especially if you're going to try to in fact this. good luck. good luck. get it done now.

just go for both. neil: but i get a sense, and i could be wrong, look, the administration is a little over a week old, but they're falling behind the eight ball on this and that normally at this point you would have the agenda ready to go, here's what we're kicking around, here's our tax cut plan, specifically that ronald reagan's was. and then of course it was a fighting back and forth his got ironically a new lease on life. >> yes, it did. neil: but it was out there and then, you know, they were off to the races. it could still happen, but i'm wondering when they talk 200-day performance versus 100-day when they talk about delays on some of this stuff, i just start saying wait a minute. >> delay's the enemy of the action and to get into a fight, do we do obamacare first? do we do tax cuts? corporate first and then personal? no, you do them both at once. and on the obamacare, that's going to take time. but you start -- start with nationwide shopping for health insurance. nationwide pricing transparency for hospitals and

clinics. you can start real steps now that people can see a real difference and not get bogged down. neil: there are at least half a dozen prominent plans. but have too many of them. >> there's a house committee republicans has 186 bill ready to go, including good -- neil: so you're worried just about whether maybe this whole travel ban thing got a lot of criticism, i don't know whether you feel that's justified. but the one thing that was happening, it got people off the discussion of tax cuts. and that's what worries me. >> well, putting aside the specifics, you can debate whether it should be 50,000 a year, refugees, that's reasonable. neil: right. >> but clearly to be blunt about it, they hadn't done their homework in terms of implementation. and every administration goes through this. neil: absolutely. absolutely. remember clinton with the -- >> and john kennedy with the -- neil: absolutely. >> huge disaster. but the key thing is learn from it and say all right.

we've got to get this tax cut thing going because we start to show real progress in the economy, that gives you a lot of cover for a lot of things. neil: really, how did this happen to you? >> nothing heroic. stepped off a curb and hit something slippery and broke it in two places. neil: it wasn't anybody in the trump cabinet? >> no. neil: thank you very much, my friend. steve forbes. he was an early worrier about this. just saying you have to move fast. all right. the backlash as steve and i were discussing over this global immigration action, travel ban, whatever you want to call it. how much of it is accurate? how much first and foremost is real? here to separate fact from fiction, peter barns. peter. >> well, numerous groups and leaders from nancy pelosi the counsel on american islamic relations or care are calling this a muslim ban. but so far, the two most prominent fact-checking groups, the washington post fact checker and the surprise

winning fact are not siding with the critics on this one in a statement this week and president trump himself noted quote there are over 40 different countries worldwide that are majority muslim that are not affected by this order. fact checkers and supporters acknowledge that the seven countries covered by the president's action, iraq, syria, iran, libya, somalia, and yemen are majority muslim but the obama administration previously described them as terrorist hotbeds. other facts are that a lot of the refugees from the covered countries were christians from 2012 to present about half in the case of iran and half allows exported treatment for them and other. the secretary of state and homeland security may issue visas or other immigrant benefits to nationals of those countries if they determine it is in the u.s. national interest. neil. neil: all right. thank you, peter. peter barns. by the way, on this very same issue, the united automobile

worker is out with a statement saying that it opposes discrimination of any kind and denounces any policy the judge's people based on the religion or nation of origin. but is that really what's going on here? muslim reform movement cofounder? what do you think of that? a lot of people interpreted this at its core as i guess essentially racist. what do you make of that? >> well, it's the new executive order has been completely misrepresented, and it's being exploited. and what i'm concerned about asn american, as a muslim is that it's being used to stoke fear in people. it's being used to stoke an anti-american and antiwest sentiment throughout the world and, for me, i see this as a soft propaganda campaign that's going to effectively turn people against america. it's being used for the sake of partisan, political interest by the same people who lost the election in 2016.

and this idea of #muslimban is nothing less than having a resistance movement that is sadly spilling into the streets and into the airports like an insurgency. i'm troubled by it. neil: all right. attorney general joins at least four others, i believe, questioning this movement wanting to invalidate it. others have said similar things. do you think, at least the way it was vetted, was poor? i believe even the wall street journal on its editorial page calling it blunderbuss. what do you think? >> yeah. there was a pr victory handed to the opponents of president trump when refugees were stopped at the border when translator was stopped. but the point is that ultimately there is effective strategy we need to put in

place that will be lasting. so while imperfect, we need to keep focused on the enemy. the enemy is not the white house. the enemy is the islamic state. and that is what we need to stay focused on. and what i see happening is for the sake of politics, people are taking -- paying attention to these missteps and these mistakes and using that to distract from serious problem of islamic extremism. neil: now, you might think i'm crazy -- and maybe from prior conversations, you would be right -- but i don't know if this goes far enough when i study 85% behind a tax in the u.s. were not from these 11 countries and further -- or these seven countries. furthermore, u.s. residents or had legal residence here. so even if this were an effect back then to any one of these. so i could go to the fort hood, you name it, orlando shooter. they would not have been scooped up in this, you know,

magnet. what do you think? >> yeah. neil, absolutely. i don't view this as a end all strategy. i view this as a band-aid solution for the temporary problem that we have, especially as the administration tries to figure out how to vet refugees and new immigrants. we need a lasting solution and that solution just like you're talking about just as you know must address the ideological problem, and that takes us to saudi arabia where i can point you to 20 websites and 20 publication enterprises that are exporting this extremism interpretation of islam from people of fort hood, orlando, san bernardino, get into their heads to do damage. neil: couldn't they link up online, wouldn't have to fly

anywhere, they could just go online and get that. >> that's why we need a more ethic strategy, it addresses all the ideological problems. i read and have studied very carefully all of the strategies that general flynn, for example, have put forward and others in the administration. i do know that they recognize there's an ideological problem. they want to go after the state actors also. so in this next 30 days when they're developing the islamic state strategy, i'm hoping that we'll develop those lasting solutions to this really serious problem. neil: and then real quickly i want to get your take on counsel of american islamic relations, which isn't a fan of this, doesn't like where this is going. is going to protest this mightily. you say what? >> well, we have to be really careful, and we have to study very closely what the politics are that are playing out. right now, the counsel in american islamic relations represents the muslim right.

they represent the far right in our muslim community. and what we have happening is the muslim right is aligning with the american left to undermine america's national security. what do they have to gain? they have never wanted us to have a conversation about islamic extremism, so they continue the strategy of deflection and ultimately what does that protect? it protects those state actors and those enterprises that are honestly as you were pointing out, neil, the real problem. we have to go to the heart of the problem so that's our next generation does not inherit this issue of islamic extremism. neil: you are a remarkable guest. i told you that before but step back and give us a sense of calm. take a chill pill. >> everybody needs to be calm. neil: what do you mean by that? all right. thank you very, very much. we might be getting some clarity from the white house on this very issue, a briefing

coming up in about 17 minutes. when sean spicer speaks, a lot of this having to do with the notion that whatever this travel ban and whatever your thoughts on it, it's distracting from the economic message of a white house up until today was firing on all cylinders with the wall street community wants those tax cuts, those dramatic cuts and regulations and now sees that getting stymied. after this

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. neil: i want to pass along some good news concerning former president george h.w. bush. he's been released from houston methodist hospital after having pneumonia. remember, he was in intensive care, all sorts of problems and barbara but she was in there. she was released last week but of course they will be home, the two of them. we're having a super bowl party, this is a true story, and we want to get back. they're going to get back i don't know where the party would be. i wonder what the bushes would have at a super bowl party. i'm thinking a lot of finger sandwiches. meanwhile, did you see this? if you were stuck in the middle of this, part of this travel ban or not, at international airports around the country, folks who couldn't get cleared in customs and as a result leading to delays period.

things have settled down we're told but who knows better than dallas mayor mike rawlings who has been very critical of this. mayor, very good to have you. >> well, thank you for having me, neil,. neil: so what do you make of this now and have things gone down a little bit, even republicans are saying that the president didn't adequately vet this but now that he has and people seem to have the broad parameters of this, what do you think? >> well, i'll tell you it has been a long three days in the process, we're right at the nexus nonstop to south america, so international travel is important. what i see is bad policy badly executed was troubling for me. but i really think putting the weekend aside, the question is what are we going to do as a country? are we going to lean into the world and make sure that we're

safe and secure and be a world economic power by really doing trade and business with people? or are we going to put up walls and hold people off? and i've been a businessperson my whole life and the key -- neil: oh, i apologize. did we lose him? down 183 points, seven countries cited by president trump the same cited by his predecessor barack obama as countries maybe we should look at twice when passengers are coming here to the united states. iran, libya, somalia, sudan, syria, iraq, and yemen. a lot of this has been interpreted as a muslim ban. it's just taking a closer look, 90 day to 120-day look those who come from that

region of the world whether it's a dangerous region of the world. now, if this were a muslim ban, the trump administration says then we would have stopped those who come from muslim-majority countries on the earth and not merely these seven countries. others say it didn't go far enough that it covers but a fraction of the incidents we've had by islamic jihaddists, for example, 11 such incidents that we've had up close to 180 over the years in this country including orlando, nightclub attacker and the fort hood shooter, those were legal residents or american-born residents. so none of this would have addressed that, so it wasn't sweeping enough. so we'll see more in it and get a better sense of that. but the common criticism you'll get, i apologize for the technical problems, is

that it either goes too far or not far enough and nobody seems to be happy about it. still, which is why this is going to be a big cob tension with the white house briefing. we're on that after this

. neil: i think we plugged things in, so i apologize dallas mayor mike rawlings. sir, that was not intentional. >> no problem. neil: let me real quick take on this that some people have said that -- making a bigger deal out of this that it's warranted, involved just seven nations, the same seven as barack obama cited as warranting close examination who gets in and leaves, et cetera, so what's the big deal? >> well, look, if i thought that was keeping us safer, i would support it. that's what we have to do as mayors. but this is the spirit of how we interact with the world that is such a big deal. are we going to really block these grandmothers from coming in to see their kids?

is that going to help us economically around the world? is that going to -- i believe it's going to help recruiting of radicals inside the united states. you know our problem has been radicals inside the united states, not overseas. neil: from anyone on any country, though, mayor, does it warrant. >> we have gone unbelievably slow on these refugees. it's harder to get into an ivy league school -- or harder to be a refugee than get into a ivy league school, i swear from these places. so i don't think this is a matter of safety. this is a matter of the statement we're trying to make to the world. neil: but hasn't the past indicated, though, mayor that, you know, whether you're a 9/11 attacker or whatever, it has proven how easy it is to come and g and it has not improved since then because hence the crack down, even under the obama administration. >> there are times where people get in, and this

wouldn't have keptds 9/11 guys out. they came from saudi arabia. so we've got to make sure that we're doing what's right -- it's not about just what you're doing, it's how you're doing it. and there was a better way to do this. as you lead an organization. neil: but i guess that's where -- a lot of people sometimes think the president's racist. do you believe that? >> i never try to look at someone's intent. i just look at the end result. and this was a big loss in the loss column here. neil: sot ould he been vett. you're in the john mccain camp. it should have been vetted. >> of course. this is important. you're the president of the united states. you execute correctly. you should be the leader of the free world. and if we can't execute this stuff, that concerns me. neil: mayor, thank you, again. i apologize for the technical snafus. >> no problem. neil: thank you very, very much. all right. i would love to cut this guy's microphone, but that's impossible because he would just speak loudly.

charlie gasparino on the at&t, time warner deal. what is the deal with this thing, charlie? what's going on? >> yeah. we have a while yet as we have to get the doj antitrust chief in there, we do have an scc chief that was recently announced. so there's movement here. but here's what we're getting from the market as bankers working on this deal are reading the tea leaves. they had the increasing market optimism that a deal that donald trump said he was against during the campaign trail -- on the campaign trail, he will actually approve it going forward, and they point to the free market people that are likely to be in his justice department under jeff sessions and the antitrust division and mr. pie at the fcc as reasons for if you look at the records, they are more likely to approve this deal than not. so here is the one caveat that bankers are saying represent a possibility to make it fly through. because there's still going to be some opposition to particularly from democrats on

the notion of concentration of power. at&t having 25% of all distribution of programming and having a cable tv network like cnn, cable news network in there. you may see what bankers are seeing as a potential spin-off of cnn to make this deal go by that there is a lot of talk about that. and there will be buyers. i mean, we should point out that cbs as in the past expressed some interest in buying cnn if that became an issue with other potential deals. so that's where we are right now. it's interesting the market -- if you look at the stock, based on my tweet, the stock has spiked, but it has spiked since october. markets have looked at this deal and it's likely donald trump and some of his advisers remain against it. people like steve bannon, donald trump still speaks negatively i hear. but he's also said that he listens to his people and the people in charge. he listens to james mattis on torture, and people are

betting now he's going to listen to jeff sessions and the doj antitrust division and mr. pie at the fcc. there are bankers saying there's a lot of potential deals, t-mobile, dish, verizon, you name it, telecom given the change of regulation could be a big business going forward. neil, back to you. neil: all right, charlie, thank you very much. a quick peak of the dow right now, news here this was, unfortunately, weighted three stocks at the time being, that's leading for the fall i just don't of. but cry to the shareholders because they're two of the more rich markets. in fact, most of the stocks have been richly rewarding their shareholders since the election of donald trump, and they continue to be even with today's selloff. more including a white house briefing coming up in just seconds.

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neil: minutes aa way from the white house briefing. no doubt the travel ban will come out. those who come from countries deemed hostile to our interests will have a tough time getting here, at least getting through here quickly. congressman brian babin of the fine state of texas has been pushing a bill to address these kind of concerns but in a more intelligent way.

i think congressman, what you want to do is refuse to accept the return of criminal aliens, which makes sense. do we know whether that is baked into the plan of president trump's? >> i think there is going to be some real strong provisions in this that would keep this from happening. you know, as you just said, i've had a couple of bills out on refugees and on deporting criminal aliens. here it is happening with executive orders from this president. president trump campaigned on this, neil. it is hard for me to understand the hysterics over this, this is not a muslim ban. it is temporary. it is, it is, we've got to look no further than the atrocities that have occurred in the united states and in western europe for people who have, who have certainly exploited these visa and refugee programs. i think it's a no-brainer.

it is high time that the we see somebody effective with the leadership, and aggressiveness to be able to do this. neil: you know, some republicans have criticized the president for not properly vetting this i understand the conundrum he is facing, if you over that stuff it gets out to the very people you don't want want to be apprid what you're up to. seems like you can't win for trying. >> it really does, and i don't think he can, he can't get a fair shake from, from the mainstream media. if you will. or a large percentage of it, let's put it that way because it's, i think there is some folks out there don't want to know what the truth is. the seven countries, now they're being called muslim ban, that is less than 10% of the muslim world. and as i said, it is a temporary deal, and you know, we were told for the last year by the, in

briefings, as a congressman, that the fbi, that department of homeland security, could not properly vet these people. and, because there is simply no centralized government and no statistics, no information, from these countries. so that's why they were on this list. this list was actually chosen by the obama administration. neil: you're right about that. >> not trump. neil: which raises a very good point, i'm glad you did, sir, this idea that this was a muslim ban, when we're talking about seven of more than 46 countries that have majority muslim populations and many of those very hostile to us. if you wanted to target all muslim majority nations you would ratchet the list up significantly. that is how it is characterized. i was thinking to myself, this happens, sometimes, congressman, if this is what happens when you're trying to get a handle on the problem and slow things down

you're deemed racist or worse, how will we ever, ever deal with this? >> we can't deal with this, neil, until, you know, we're hearing from a very vocal crowd here. the ad very adversaries of mr. trumps will always be adversaries and will continue to be. the large majority of american people are supportive of this and want to be safe. mr. trump campaign on this very issue. i can tell you as a texas congressman, the folks down south in east texas where i serve they want this type of thing. they want to be safe. they don't want to worry about terrorists coming in and exploiting our refugee around visa programs so that absolutely these people can come, especially if they're refugees, coming in at taxpayer expense and legally to set up bases of operation, to radicalize and do the atrocities that we've seen, and so, i telling you the people

who are behind mr. trump here. the hysterics aside, the reality it is high time we saw something like this happen and i'm elated that it is. i'm fully supportive of mr. trump's executive orders. neil: you know the irony is, this might not go remotely far enough, to your point, it affects about only 10% of the type of cases we've seen, and the vast majority are conducted or the terror we've seen on our soil by american-born citizens or legal residents. so this doesn't even address that. yet it got the rage it did. >> well you're exactly right, in my opinions, as we said earlier i had a couple of bills out would essentially the same thing and even more. i just hope that, you know, if the hysterical side of our country, the democrats, some of the media, if they can't see the deficiency and usefulness and common sense what he has done, it may not even be enough as you

just said, and i couldn't agree more, then we may have problems ahead because the american people want to be safe. i keep hearing this argument well these bans and these executive orders are going to gin up isis to recruit more and cause more terrorism. well, i think that is absolutely absurd because they already hate us. isis hates us, wants to kill americans and if we were not doing this are they going to want to kill us even less? that is absurd. this is something that needs to be done. i believe president trump has the idea of a defeating isis completely, of protecting the homeland. this w his promise when he ran and is is what he is dng and moving at a speed just really unbelievable here for the last week. so i'm, i'm absolutely in favor and appreciate what he's done. neil: all right, to your point i

mean all i know is under republican and democratic administrations, the last one couldn't have been friendlier and thrown more overtures to the muslim community, extremists in the community hate us no matter what. >> that's right. neil: congressman, thank you very much. good catching up with you. >> thank you very much. neil: sean spicer is coming up here, to address a lot of these concerns that have come up, whether this is now a big distraction. republicans said the way they did this travel ban ended up confusing folks, it wasn't adequately vetted. let's see what sean spicer says about that. >> thank you all for coming. good to see the interest is still there. i want to start off i about noting that the president got off the phone a short time ago with canadian prime minister trudeau to discuss the vicious attack on a quebec city mosque last night. the president offered his

condolence and his thoughts and prayers to victims and families and all canadians this. is another senseless act of violence can not be tolerated. president pledged to support the canadian police and intelligence service in any way necessary. prime minister trudeau was extremely appreciative and cautious to draw motives at this stage of investigation and president shared those thoughts. canadian law enforcement officials are actively investigating this matter. we condemn this attack in the strongest possible terms. it's a terrible reminder why we must remain vigilant and why the president is taking steps to be proactive rather than reactive when it comes to our nation's safety and security. we're of course praying for those injured in the attack and are keeping in close contact with the officials in quebec in canada. we're moving into a, moving into a quick recap of the events of the past few days. as you all know the president had an extremely busy weekend. he followed up on his first week

of action with a weekend of action. on saturday and sunday alone the president spoke with eight foreign leaders. he signed executive orders delivering on some of the biggest campaign promises he made to the american people and he met with staff to continue to plan another busy week. over this weekend we carried out a successful raid against al qaeda in arabian peninsula which resulted in the death of 14 aqap members and capture of important intelligence that will better enable us to counter and prevent future terrorists plots. tragically during this raid the life of a brave service member was taken and four were wounded. our thoughts and our prayers are with the family of this fallen american hero. we also pray for a speedy recovery and complete recovery of those servicemembers who sustained injuries. as a quick recap, on friday, he saw the president's enthusiastic reception at the department of defense for the ceremonial swearing-in of secretary mattis

as our secretary of defense. while at the pentagon the president signed two second stiff actions to protect america from those who wish to do us harm. focus on securing our borders and our homeland is a major part what the president campaigned on. he is doing exactly what the, what he told the american people he would do. the president will always put the safety and prosperity of our country first and foremost. we kicked off saturday launching the weekly address which debuted for the first time on facebook live. nearly 11 million people were reached by the address on line. over 1.1 million people engaged with the comments, likes, other interactions. as of in morning the video was viewed five million times. just as he did throughout the campaign this is another example of the president taking his message directly to the american people. on saturday the president signed three executive actions on issues ranging from government ethics to national security. as part of the president's plan

to drain the swamp in washington and return power to the americae order imposing strict post-employment rules on all federal political appointees including a five-year lobbying ban and lifetime ban for foreign government lobbying among other restrictions. the president continues to make it very, very clear that if you want to be part of a trump administration you will be serving the country, not yourself. the president also signed a mem up did modernizing the structure of the national security council and the homeland security council. there has been a lot of misreporting this week what this memo does and does not do. let me walk you through this real quick. there are two issues at hand one is the makeup of nsc one is the makeup of principles committee. the principals committee is ns c-minus the president. the idea is that the chairman of the joint chiefs of staff and dna are being downgraded and removed is utter nonsense. they are at every nsc meeting

and are welcome to the attend the principals meetings as well. to be clear the memo lays out if there is principals meeting outside of their scope, for example, a domestic issue that doesn't pertain to the military they're not required but welcome to be in attend damages. we recognize certain homeland security issues may not be military issues an would not be in the best interests of joint chiefs valuable time to be at these meetings. just yesterday we called several outlets who were see rearly misreporting this topic to better inform them what the memo means. let me walk through this real quick. this is the 2001 nsc stand-up memo. this is the 2009 memo. and then this one is the, i've got the '13 as well or 2017 rather right here. this is the language that is in, the language that considerses of the national security team, the director of the central intelligence and the chairman of the joint chiefs of staff as

statutory advisors to the nsc shall also attend nsc meetings. that is the identical language in 2017 as it was in 2009 when obama drafted his verbatim, identical. the makeup of the principals committee from 2017 is exactly as it was in both 2017 as it was in 2001. 100% either identical except we add the word also. it is pretty clear if you look at all three of these that is what it does. to be clear the memo just yesterday we called that out. sign, starting with the membership of the nsc as you see here the language part of the president's memo is identical to language of president bush's 2001. the only thing that changed in this is the addition of the director of national intelligence as a position that didn't exist in 2001. for what it's worth, it is the same as obama's save for the word also. in terms of the principals committee as you can see from

the various language here, and this, i give you 2017 on the principals committee, this is the principals committee in 2017 and this is the 2001 principals committee. it is literally 100% the same. 2001, and 2017 are identical. so this idea there has been a change ore a downgrade is utter nonsense. with respect to the joint chiefs in particular, the president holds chairman dunford in the highest regard. the sulks that he would downgrade the important role of the chairman plays in matters of national security reveals a fundamental misunderstanding of the tremendous respect that the president holds for both the chairman himself and the joint chiefs as a whole. for the record, i know someone tweeted out, where was the cia in this? the cia has not been part of the nsc since the dni was sworn in

the first time in 2005. that being said, the president has such respect for director pompeo and the men and women of the cia, that today is announcing that he will amend the memo to add the cia back into the nsc. so i know that there was a tweet yesterday from the former national security advisor that said, where is the cia out of everything? well i with like to remind the former national security advisor when the memo was drafted in 2009, i don't see the obama administration including the cia in theirs. it is president trump including cia, not the former administration. so, so just to be clear when it comes to the cia as you know, number one, it wasn't part of the restructuring of the nsc after the dni was named and sworn in in 2005. we are the administration that is adding it back into the nsc amending it in. it was the obama administration

didn't have it in. to answer the former national security advisor's tweet, the cia is in ours and it wasn't in theirs. with respect to, one second. moving on, president also signed another memo when he was at the department of defense instructing the joint chiefs of staff in the next 30 days to deliver him a plan to defeat isis. this comprehensive strategy and plan must include a recommendation to changes to any rules of engagement and other policy restrictions that exceed the requirements of international law regarding the use of isis. public diplomacy, information operations and cyber strategies to isolate and delegitimatize isis and its radical islamist ideology, identification of new coalition partners in the fight inches if isis and empower them to fight isis and its affiliates. mechanisms to cut off isis financial support, including money transfers, money

laundering oil revenue, human trafficking, sales of looted art and historical facts and other revenue sources and detailed. this is profund statement that the president's clear objective to defeat and destroy isis and we'll do it systematically. this is not only a necessary step for america's national security it is also a humanitarian imperative. if isis is left in power the threat it poses only grows. we know it has attempted to develop chemical weapons capabilities. it maintain as goal of recruiting homegrown terrorists. it is attacks bense our allies and partners continue to mount. the united states must take desai sieve action. the mt. is taking the necessary steps. over the weekend the president also held constructive phone calls with the heads of government from australia, france, germany, japan, russia, saudi arabia, south korea and the united arab emirates. during the calls the president reaffirmed our partnerships and

discussed strengthening our mutual defenses and interests throughout the world. the safety of the american people and the security of the american homeland continue to be the president's priority. this is critical step on turning the page of the failed foreign policies on the past eight years. noticeably he did all this in the face of extreme obstructionism from democrats in the senate holding up 17 of his department or agency leads that require senate confirmation. in contrast 10 days into his term, president obama only had seven people in these positions awaiting confirmation. president bush had all but four is confirmed. if senate democrats will be okay with voters saying that is business as usual, dragging confirmmation of qualified nominees they sorely misunderstood the message this november. the truth is these cabinet members run believely qualified and will all be confirmed by the senate. democrats know this, time to stop playing political games

with the core functions of our government. this morning the office of the u.s. trade representative sent 12 letters officially notifying nations to the trans-pacific partnership that the u.s. has withdrawn from the agreement. the next step in fulfilling the president's campaign promise to get our country out of unacceptable trade deals that don't put america's interests first. the president will continue to negotiate new, better trade agreements that will bring jobs back, increase american wages and indecrease our wage deficit. our intergovernmental affairs office are making sure all lines of communication are open at all levels of government throughout the country. as of today, the white house made contact with all governors offices in every state and territory and deeper dive conversations on a range of issues have taken place with 32 governors or their offices. outreach efforts touched 22 of 50 state attorney generals, 32 of 50 states secretary of states 11 speakers of the house, leaders of 10 largest federally

recognized tribes and leaders of some of the country's largest counties and municipalities. all expressed enthusiasm working with the white house on issues impacting their local communities and families. the intergovernmental affairs office is also preparing, is preparing for the national governors association meeting in washington at the end of february which the president plans to host a dinner. today the president started his day with, with a breakfast and listening session with small business leaders. a list of attendees is available if you're interested. the meeting comes on heels of similar listening sessions the president held last week with country's top business and union leaders an front line workers. he made it clear in his first week in office through his executive actions, meetings and listening sessions he is fully committed to fighting on behalf of american workers and small businesses. this morning the vice president hosted a breakfast with king abdullah ii of jordan at naval observatory and the president expects to greet the king this thursday at the national prayer

brake fast. the vice president thanked the king for his efforts in advancing peace and stability in the middle east and reaffirmed the night's commitment to jordan's security and economic development. the two leaders discussed event in the region including ways to accelerate the coalition's efforts to defeat isis and promote a political solution to the syrian conflict. the vice president welcomes the king's views on changes involving u.s. embassy in israel and reiterated united states is at the early stages of this decision-making process. the two leaders discussed how to best make progress towards a comprehensive agreement between israel and the palestinians. the vice president and king abdullah agreed on strengthening u.s.-jordan relationship and pledged to stay in close contact about events in the region. the president signed executive order and reducing regulation and controlling regulatory costs. the order instructs the director of office of management and budget issue guidelines for everyone new regulation two

existing regulations it an agency be eliminated we're calling it one in, two out. the cost of all new regulations finalized in fiscal 2017 must be no greater than zero for each agency. beginning in 2018, each agency will have incremental cost cap set by director of omb beyond which it can not issue regularses. this executive order is the first step in the president delivering on his promise to slash bureaucratic red tape that is choking our nation's small business. under the president's leadership the federal government will no longer punish americans for working and doing business in the united states. every year overregulation costs our economy billions of dollars and reduces the health wealth of every american household. this executive order will help get the economy back on track and part of the president's bold plan to create 25 million new american jobs in the next decade. it's worth noting that this order is perhaps the most

significant administrative action in the world of regulatory reform since president reagan created the office of information and regulatory affairs in 1981. finally a few administrative notes. i'm pleased to announce that prime minister netanyahu of israel will visit the united states on february 15th. our relationship with the only democracy in the middle east is crucial to the security of both our nations and president looks forward to discussing continued strategic, tech logical and military and intelligence cooperation with the prime minister. tomorrow at 8:00 p.m. the president will announce who he intends to nam nate for the supreme court. for a party preaching tolerance, interesting to see some democrats came out against unnamed individual. with that i will take a few questions. >> sean, over the weekend president trump requested that the king of saudi arabia join him by supporting safe zones in syria. >> right. >> what type of support does president trump intend to provide and when syrian civilians can expect to receive

the support? >> that came up in the calls and important to note that there is such strong agreement with how we address this problem. you're seeing it from across the spectrum. it is important we have stability in the region. i think the idea this was area of mutual discussion and agreement is important when we talk about stability in the region. so we'll have continued discussions. i think that first step of getting both sides on the first page was a huge step forward. blake? >> thank you, sean. president said today, on camera session talked about how the market has run up during his last couple of months. i want to ask you a question related to that. today coincidentally happens to be the biggest market drop since october and one of the uncertainties for investors is that tax reform might not get done this year. so my question to you is, can the administration commit to major tax reform in 2017?

to develop a comprehensive tax plan, and i think there's eagerness on behalf of congress to do that as well, so that is a very promising thing. i would also note when you look not just at the ups and downs of a market, but you look at consumer confidence and a lot of the market indicators, a trump presidency brought a lot of confidence back to traders, to investors, more importantly, to job creators. you look at the number of individuals, the small businesses, the large businesses, the automakers all coming in and saying to the president, i want to be part of your effort, your agenda to make the country better, to grow jobs here, to bring jobs back here.

i think it's a positive sign not just on the ups and downs of one day's market fluctuation, but the overall commitment that businesses have to want to work with this administration to add jobs, to create better jobs, to add benefits, to find out how the president can ease the regulatory burden they face. so it's a holistic process that is being undertaken to unleash the american economy. and it's the approach that he's taking not just in small businesses and large businesses and with union workers, but he's looking at the energy sector. how do we unleash america's natural resources not just to help make us more energy independent, but how do we to that to create good paying jobs in america as well and get economic boon that can come out of it. april. >> sean, two questions. one, how iortant is national security information to you? how -- you're saying that they're at the table and they can come to the table if they want -- [inaudible] >> no, no,