maybe we've got a little cloud in the marketplace. maybe we did, indeed, did move the market just a little bit. just saying, charles payne, can you move the market? charles: well, you know, as a spin-off from varney & company i have a little cloud too. have a great weekend, buddy. stuart: thank you, sir. charles: what happens to stuart's point if it's big tax cutting agenda gets pushed off? welcome to coast to coast, i'm charles payne in for niel. 235,000 jobs last month as businesses are looking forward to tax reform, but senate minority leader mitch mcconnell throwing cold water on chance that is we could actually see tax reform by august. here is what trump's economic adviser gary said about the timing of tax reform. >> it is a stated objection -- objective of the president to get tax reform done this year. we are actually prepare today work through the recess. we are prepared not to go

through recess and work on it but we can work on it in the fall. we need to get it done this calendarrier. charles: stocks dropped shortly thereafter. what happens if businesses and investorses start to get antsy here? it's starting to become a reality but also the promises have to become a reality too, what's the timeline? >> we heard it earlier this week mnuchin said august. if it es beyond august of this year, you will start to e first and foremost volatility and uncertainty.

[inaudible conversations] >> i want to thank each of the house committee leaders for being with us today. devotion and leadership has been amazing. i want to applaud you and the diligent work of your committees to advance the obamacare repeal and replacement legislation that we've been talking about for a long time and that we have been running with and i ran with and i can tell you and that's what people want, they want repeal and replace. the bill passed just now through ways and means and it will -- i think, the committee just voted recently, right? your other committee, energy and commerce and was a very good vote and congratulations. that was a good job. amazing. we must act now to save americans from the imploding obamacare disaster. premiums have skyrocketed by double digits and triple digits in some cases and as an example arizona which i talk about all of the time, 116% increase and

going up a lot higher. 17 would be a disaster for obamacare. that's the year it was meant to explode because obama won't be here, that was when it was supposed to be. as bad as it is now, it'll get even worse. choices are disappearing as one insured drops out after another. today one-third of all counties now have only one insurer on the obamacare exchanges and the exchange themselves are a disaster. the house repeal and replace ends the obamacare tax hikes cuts hundreds of billions of dollars and eliminate it is obamacare mandate that forces americans to buy government-approved plans. we all know that one. it provides states flexibility on medicaid dollars and back to local government which we all want to see. they'll do a much better job and the plan empowers individual americans to buy the health

insurance that's right for them, not the plan forced on them by government. you all remember, you can keep your doctor, you can keep your plan. it turned out to be not true. this is the time we are going to get it done. we are working together. we have some great results. we have tremendous spirit and i think it's something that's just going to happen very shortly. so thank you all very much and we are going get to work. charles: well, there you have it, president trump meeting with key committee chairman, chairpersons, if you will. kevin brady and greg waldon have been up front, diane black and representative of virginia and chairman of the house judiciary committee. i want to get back to market watcher joe, because, joe, here is the thing.

obamacare must be taken care of first. we already know what the agenda is and the longer more complicated e process is, at means the harder and more difficult it could be toet the juicy part that is the market has been looking for particularly tax cuts. >> but i think looking at health care, that took six to eight years to get to the point where it is now. tax reform, the perception is it's not going to take six to eight years. it's clear that you need tax reform fast and you need it by august. we saw the weakness in the russell 2000 and that's the smaller domestically centric index. that's what we are going to watch. if you don't see tax reform in short order, i'm going to tell you right now, that's where you're going to see the canary in the coal mine start she --

shirping. charles: we are seeing no evidence that the economic needle is moving in the right direction including the job's report today, would that be enough, if that stuff keeps going on, not bank -- gang busters per say but to keep the markets sustain, hold off a major correction? >> it'll keep it sustained. charles, the number was great off the charts, but you had the average weekly wage inflation. average at best. we are seeing full employment starting to hit, 4.7% unemployment. you should see that wage number a lot higher. at least that what we should expect. so yes, that's going to hold up the markets right now but we are not seeing the types of things that are saying, yeah, everything is growing at a pace that it's going to, you know, justify the enormous run-up that we have had so far.

charles: joe, we appreciate your expertise. we will talk to you real soon. >> definitely. charles: is the white house making any progress with those conservatives, house freedom cauc sot member scott perry on if minds are starting to be changed. we saw the presentation from paul ryan who had his sleeves rolled up, had some graphics like the piggy bank with the coin dropping in. is that helping the freedom caucus say we have to make some compromises and need to understand this is, quote, a binary choice? >> that is what it is termed as, a binary choice but it is early in the process to take stock in that too much. some people say the binary choices saying this is where the negotiation is. negotiation is occurring daily with the white house and the house of representatives, different groups, different individuals with different ideas

and different concerns. we have time here, it is a pretty quick -- many members of the freedom caucus are not there yet. the rules committee meets and amendments will be in order and some of those amendments passed that will affect things that not only conservatives are concerned about but the other side of the spectrum but all americans, there is another thing, the three phases, the third phase driving down the cost of insurance for people on the open market, we could get those things passed through the senate. that is pretty squishy. that is important, we don't want to pull the rug out without knowing we drive costs down. it is driving the cost down so people working and living can afford their insurance.

charles: the fact you have a 60 vote threshold, you have delors and democrats, you keep some parts of the president's bill or they will sit on their hands. the change that is the concern, they come over even though it is hurting their constituents, they will be so went to partisanship and obamacare that even though there is only for third of the country one provider in those counties they will not help do things like allow sales across state lines, tort reform and the things that drive the cost down, getting rid of those mandates even though the rest of them are going. happy to be the guaranteed issue for insurance companies and mandates on coverage in place and the cost is not going to come down. charles: what is it going to

take, what compromises -- i am not sure you will be to next tuesday -- will you be there to gives be changed i expect to be there. stuart: what do you do generally? >> i'm a poor. charles: you mentioned management and budget, no one expects that to be a good number. republicans are saying these guys don't know what they are doing, and i don't know if it will help or hurt your cost, what are you not yielding to? >> there are places of common ground and leadership about these things, after that time, you can talk more pointedly to see what the cost will be.

i would say to the people who are focused on that look at the scores it gave obamacare, how close it was whether it was enrollment or cost or anything, with all due respect, i don't think you wehould be regaless whether it is high or low. it is wildly off as you know. charles: always the other party, bipartisan -- thank you very much. a couple days to get your bowling scores up. fair and balanced, go to the obamacare architect, doctor zeke emmanuel, thanks for joining us. would you agree the plan as it is now is indeed serious trouble, even perhaps in a death spiral? >> representative ryan's planet and death spiral.

charles: the current obamacare plan. >> the freedom caucus is like it. voting against speaker ryan's plan. the american hospital association came out against it. doctors and hospitals are against this plan. it is going down. charles: the current medical system as it stands. >> obamacare is doing quite well, better than anyone expected. on access 22 million people got coverage. on cost, costs have moderated. charles: is moderated the same -- >> let me finish, let me finish charles: let us have a conversation. you are saying things that are not correct and i would like to ask individually instead of a filibuster if we can do that. you talk about costs moderated,

people have seen premiums go through the roof. >> let me explain. premiums are going up. under george bush, his eight years premiums went up 80%. under president obama they went up 35%. in the last year you have a jump in a few markets. you didn't mention massachusetts or indiana where premiums went down, or california a huge ste where premiums went up 7%. you have been cherry picking, let me finish, you have been cherry picking your data and not giving an accurate representation, there are some unfortunate people, they tend to be of two groups, very healthy who are getting a very sweet deal before because they were being underwritten and young people who were getting a sweet deal because they are generally healthy. all the people have done much better under obamacare. when you compare someone who is

55 and obamacare compared to representative ryan's planet the representative ryan's plan they will do substantially worse. it is estimated a household under representative ryan's plan with a head of household 55 and older will pay $7500 in healthcare costs more under ryan's plan that obamacare. that is not cost-saving and by the way, lasting, the 3 $50 billion representative ryan wants to given tax-cut or to people making $250,000 or more. it will devastate medicare and devastate government finances. it is a giveaway to the rich. charles: here are a couple things. first of all, the notion that this has worked when half the people you are talking about have been pushed onto medicaid which strains state budget and after this initial faustian bill

expires is dangerous, and moving subpar care for so many people particularly older poor people we do in a previous of gone up. i didn't mention any particular state but if you take them all in total they have gone higher. the cost curve cost of not curbed lower, they have gone up, drug prices through the roof and in the ceo of it the saying this is a death spiral so you can resell it if you want tthe american public. >> let me readdress your point. you didn't mention or address the issue that under president bush prices went up double. let me -- no healthcare costs have ever gone down. they have moderated, increased for five years with the general inflation which has never happened before in 50 years. that has been a big achievement. i will also say drug prices are one of those places where democrats and republicans can agree. we all think drug prices are too

high and need to be negotiated. the president has agreed with that and this will unite us, by present agreement, it is not in representative ryan's bill at all. he wants to do nothing about drug prices which you have mentioned as a serious point. that is a deficiency in this bill. the bill is inadequate in many ways. charles: overall the american public -- >> one more thing. you complain the 10 or 11 million people have gotten medicaid as part of obamacare. an interesting fact if you survey those people they are happy with their medicaid. they have great satisfaction with primary care. they like it. charles: people who have used obamacare in any survey are unhappy with it, they lost their doctors.

>> that is factually wrong. you are stating an untruth. that is fake news. charles: something is wrong with the healthcare system. >> most people who use obamacare and medicaid money exchanges are happy with it is your claim that most people hate it is simply -- charles: it is your baby but it has a lot of problems, appreciate your letting me talk a little bit, see you soon. more fallout from the jobs report. when someone says something the fed does can put a end to this rally coming up. when you have something you love, you want to protect it. at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust

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sparino's treat. and that is a fox news contributor. are guy who is not a fox news contributors jeff immelt, and the long time ceo jeff immelt, is on the hot seat, that forced a lot of people out. they are not meeting their financial targets. is what we know from inside ge. ge missing recent earnings targets, and he is an investment, loves -- very smart guy did a lot of work on dupont

in the past and both of them may push for an immelt into early retirement if financial goals are not met, that is the step from inside. we should point out, still has at this moment the support of the ge board. that could change if it starts corporate activism which they are now weighing if they do not meet these targets. one of the things, very annoyed with immelt. a very huge revenue base and cost base, couldn't take out a decent amount of savings in the last quarter even though ge is trying to downsize for subsidiaries, and $1 billion on $100 billion. charles: the kind of thing jack welch mastered. because of missing earnings

estimates, they have done something like 33% and the other robe will force their hand, ge stock in immelt has not -- since he was ceo, inherited ge at a lofty price, it was pumped up by the internet bubble and the jack welch years, jack welch was a successful ceo and after that we ran into 9/11, he has an with the company a long time, considered a successful ceo, trying to undergo a change at ge where they sell varies units but when you get an activists investor you meet certain targets. a pretty fair activists investor blows people out but missing that expense target is big. charles: a $50 stock, in my mind no excuse for it. charles: we should put out a

statement that we are waiting for a comment ge, it is very interesting, try -- g each continuing to work constructively to optimize the valley. this is real, stock is moving on this. charles: thank you very much. the debt limit needs to be raised again so what does this mean? push off the looming crisis again? ♪ guyhey nicole, happening here? this is my new alert system for whenever anything happens in the market. kid's a natural. but thinkorswim already lets you create custom alerts for all the things that are important to you. shhh. alerts on anything at all?

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charles: the congressional budget office will score the republican healthcare bill on

monday, the treasury secretary raises the debt limit for a committee for responsible budget. of this republican-controlled washington is closer to that fiscal house in order or fiscal cliff, thanks for joining us. raise the debt limit and there used to be a time, there was a political hot potato people were passionate about and we get the congressional budget office to score this bill. we got serious issues to consider, all about more debt. >> a lot going on next weekend let me add one more to your list, the president's first budget or skinny budget is slated to come next week so we will find out the cost and coverage numbers associated with the new health reform bill, we will deal with raising the debt ceiling next year but it will be

time to use extraordinary measures, folks at treasury have to juggle between trust fund to put off the inevitable which is raising the debt ceiling. charles: congressman kevin brady at the white house. the change the united states after seven long years of many americans being hurt by obamacare the process begins in real-time to repeal this law and begin replacing it with affordable healthcare. the ways and means committee, 18 hours of deliberations republicans unified in support of this bill and for this reason. if we hear nothing else i say this is the most important one. there is so much more that unites republicans then divides republicans on this issue, revealing these taxes, the subsidies, the mandates that hurt our local businesses we unite behind beginning to restore state control, real power and choice over there

healthcare plan is what we unite behind, we will listen and make improvements where we can but there is no question this is the bill that will come to the president's desk, repeal obamacare and give americans hope and relief again. charles: that was kevin brady, one of the key figures not only helping put this together but to sell it to fellow republicans in the key messages, so much more that unites then divides over there's serious conservative opposition and moderate to don't like parts of the bill but this is just the beginning of the negotiating process. here is the thing. publicans used to be extremely

worried about the debt, $400 billion in interest alone. is it smart or okay to say we need to ignore that for a moment and get this economy firing on all cylinders and if the economy is growing at 31/2% or 5%, that makes fighting the debt and easier proposition. >> that is the backwards way of looking at it. part of getting the economy growing, i would put a big .5%, 4%, 31/2% is aggressive, labor market challenges as people move into retirement, we want to grow the economy as much as possible that will help with the debt, the way you grow the economy is having a sustainable debt situation. for a party that has been making the case that we have to be more fiscally responsible for many

years now putting out budgets that achieve balance in a decade and focusing on of the most important pieces of all of this, entitlement reform, to change course now would be a huge lost opportunity and makes you wonder. charles: that is completely out the window. dealing with the they facto entitlement of obamacare are you happy with the taxes out of that and perhaps finding its way into the economy in a more productive manner? >> if we cut taxes and grow the debt larger than that we bring economic growth down so and so we see that important score from the congressional budget office next week and know how this will affect the bottom line it is difficult to analyze changes in healthcare, we want to see coverage, cost control, quality but we need to know the cost of the bill and those numbers we have not been able to analyze yet. charles: we will severely next week. appreciate it.

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charles: taxing the rich the answer to our debt mess. that is not me saying that but just who is? bernie sanders tweeting america is not broke, th very wealthy

and huge profitable corporations just are not paying their taxes. i shot back a quick sweep is america so wealthy some have three houses, i will have more on the debt problems and how to fix them tonight on making money. the white house is hopeful healthcare and tax reform will be on track and completed by august, but the timeline is doubt. 's >> it is a very aggressive timetable but realistic and something the president and i are committed to. neil: by august voted and agreed. >> finishing on tax reform will take longer. >> when it comes to the floor i can guarantee that. >> review and replace obamacare. >> don't think the votes are there now. before trump economic if either

gary cohen's telling stuart varney things could be delayed. >> we are prepared not to go on recess but to stay and work on it but work in the fall and get it done this calendar year. we are working as hard as we can to get done what we can get done and we are open to any suggestions and working with everyone to get to the best place. charles: can republicans get on the same page to get tax cuts done by august? former bush 43 presidential writer ned ryan and democratic party chair scott bolden. gary cohen seemed realistic, hopeful, optimistic but did feel like a line in the sand that it is a done deal. >> what him and steve mnuchin are supposed to say, we will get around to it when we get arod

to it, ty want to be optimistic and make people excited to see tax reform in the near future and i hope they can get it done because that will be huge momentum for the american people and trump to say he is keeping his promises. august seems with obamacare and everything else that seems like it is pushing it. stuart: the president trump, ceo, chief executive officer, have to follow along with the pom-poms on the other end is mitch mcconnell, grandfather coached type who is like maybe it won't get done. mitch mcconnell when he makes these comments does it help or hurt? >> this is pathetic, senate republicans are talking about tax reform since 2010, they had 7 years to figure this out and now they are not sure they can pull this off. the thing that concerns me yesterday as mitch mcconnell said i am not going to commit to a timetable. that to me was very troubling. i always thought mcconnell was part of the problem.

he needs to get on board with the trump agenda and say it is an aggressive timetable but a reasonable timetable. here is the problem. is going to blame the democrats but here's the problem, he is the senate majority leader and he needs to stop being afraid of the senate parliamentarian and interpretation of the rules and say i will come up with a solution, we can get tax reform by august, here's what trump has to do, nothing in politics moves -- i would have a serious conversation with which mcconnell, come to the white house and say -- the secretary of transportation. charles: i know democrats pull down the logs sitting back loving that. >> i agree with a moderate republicans are against the repeal of obamacare or the republican bill but here's this other thing you got to pay attention to. you can't do a global tax reform

without getting obamacare repealed, got to change the law or you will drive the deficit up. if you get rid of the taxes and obamacare, 6 billion estimated 10 or 15 years, then you get to the broader piece so it doesn't look like you are driving the deficit up as you to reduce taxes across the board. mitch mcconnell knows that but also knows he can't get obamacare done in the senate because he has medicare expansion limitation, every interest group out there conservative or republican, doctors, hospitals a it can't be done. of the for the biggest interest grew by the american people -- >> 80% said otherwise unless you got a significant replacement. charles: five or six replacement plans.

we have ruout of time. e is growing concern white house officials are working to subvert the president by leaking classified information. how can president trump stop all of this once and for all?

>> overall they are dealing with seditious people within the the promise of justice, within the fbi, the department of the interior, the cia, people who don't approve of the trump presidency, trying to take him down from the inside. if that sounds conspiratorial, i think that is what trump is looking at, people within the government, what you call the deep state, bureaucrats, obama appointees that hate donald trump. charles: that was republican congressman duncan hunter saying there could be officials in the

government that are out to get president trump and maybe they are behind the leaks. former director of national intelligence ambassador john negroponte. we are hearing a lot about the impact on the current administration, no doubt these bureaucrats in place in washington dc have their own political opinions and a lot of times want to protect their own turf so sound like there could be something to this but how much reality? >> that n be exaggerat. i am not sure there is even a kernel of truth to it. we have checks and balances, we have oversight, cia has got a director in place, congress has a role to play in overseeing these things, people can't just run amok in our country, they

are subject to laws, disciplines and constraints of various kinds. i don't think it is the deep state conspiring against the president. charles: wikileaks release this vault number 7, 1% of that, 123456, we saw the leaks last year, president trump's telephone conversations have become printed up in a press. how these things happened in the system so sealed they are foolproof? >> those are not being done at the wish of people in the deep state. those are people who are rogue. the last bunch of leaks is something which shows we have too much classified information in too many hands and don't exercise sufficient internal controls but i don't think either of them leadership or

rank-and-file of law intelligence what these things to happen. thesare rogue actors taking this stuff and making it public in a way that is against the law and we ought to get to the bottom of it and the people responsible should be punished. charles: that is not happening enough in the american public as a consequence rapidly losing confidence in our intelligence community, fbi and especially the cia. how can we fix it and fix it quickly? this could be part of a national crisis? >> we are hemorrhaging classified information. we have to make it a national priority to bring the situation under control, to restore the respect people have for classified information and maybe not share it so widely in the government, sometimes literally thousands of people are made aware of a particular piece of

intelligence when maybe only dozens or hundreds are needed to analyze and act upon it. too much, the stuff is spread out in too many places including places the don't feel a sense of responsibility for protecting the information. stuart: no deep state that big government. thank you very much, really appreciate it. the use include scott pruitt, big announcement from the epa coming soon. what it will be and what will the fallout be after this.

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looked like it would rebound a little bit. jeff: the last commercial break we went $.50 down to $.87. the intraday, it was all negative. when the market opens volume came in and went south. the positive is not about bad economic news, alaska oil find, this time the exploration stocks, wild horses not on the board but that is down 3%, kick the crap out of those guys and we crashed through all of the support and no support visible, how low can this go? not because of the bad economy but too much oil.

charles: 528 billion barrels or something, the most we ever had. >> commitments of traders report, 3:30 your time showing us how this market is really long, people were betting this was going to go up and this kicked the heck out of it. charles: that is not pushing the overall market lower as well. let me ask you because we also get the regular count later on today, too many rigs came on too quickly and from a political point of view of saudi arabia sticks to their pledge that production pledge, with a change their mind if we keep pumping out so much crude? >> they already told us oil companies in a meeting yesterday that potentially they were not going to extend, they were talking about extending the commitment to keep production

under control but now apparently you are right about that. a lot of people did come on. everybody going along, we are $60 oil, we are in really good shape. charles: too quickly we jump back and. always appreciate it. a big epa announcement, administrator scott pruitt. neil: you want to address fuel standards going into effect in stages over the next few years. what does that mean? >> they will be announcement very soon, an important announcement how we are going to address those standards but process matters, the process was truncated and needs to be respected so all voices are heard. charles: what this means to drivers, the new epa. >> i'm not a fan of the 54.5 corporate average fuel economy

because it is costing you and i money and if we try to meet that we are paying $4000 more for a new car to cover penalties because we won't make vehicles that make those numbers. charles: cheaper, lighter materials, they have to do funny things, it was onerous by the obama administration. >> very shortsighted a lot of the things i see happen in past administration that impact the automotive industry, that is all my area is. when you start making vehicles too like, too small consumers don't want them. they cost too much, they go to suvs, hottest going segment pickup trucks, number one selling vehicle, that is a sign. you can shove this down our throats but we don't want it. charles: we have breaking news but appreciate you coming on. since me an email later, thank you very much. hiring is up.

does this mean interest rates have to spike up as well?

>> jobs are pouring in. wages are beginning to go up. are they conditions that really make it right for a series of rate hikes. our economy and a 225,000 jobs last month and wages are up 2.8 percent from where they were a year ago some say this guarantees a rate hike later this month. let me start with you. it more or less solidified it. is it a moment of things to come.

you can get a 6% treasury bond. if you keep being optimistic you don't care how high rates go. is not so much a great deal anymore. i don't think that relative value is what's in a cost the market appreciation to stop. will get the people getting nervous. as i can be a rational decision. i don't think the fed will go very high with those rates. elizabeth charles: a lot of people don't have faith in the federal reserve. as is a good point that you made.

i hear your point. they are meeting next week. the rhetoric is coming we are hearing is quarter-point rate hikes. last year they previewed for they didn't do for hikes. the what's happening right now in light of the jobs report with these numbers. their stated that the percentage of companies that have they can spot that the highest since 2001. the jobless rate and also the part-timers are looking for work the president's policies have not even kicked in the skin and more fuel to the fire they put out a statement and want to get part of that with

a response. has been a train wreck of fear and competence. what you make of that. is she watching the first two months. >> nancy how could you. we were getting along so well. you can see the business confidence number on the rise. or actually can we could do is talk to the ceo not gone to the white house and said women have a relationship with dc ever like this. in the 19th of america gone and truck -- talk to present trump this is a guy that will help us. when you talk a lot about the approval rating coming in. nancy pelosi there is no doubt

about that. i look at it this way. with the comfort report out yesterday. it was over 50 points. going back to 2002 it's only happened six times. at the highest it's been in a long time. republicans feel amazingly great. that was reflected in the jobs report. they have jobs in construction and mining. they been annoyed by washington dc for a long time. what was missing over much of the last years with optimism. people were negative. right or wrong that's how they are. even like nancy pelosi who

doesn't like what trump is doing. they don't think the stock market is going to collapse. you can run a company anti- liberal and not like this president at the end of the day you don't think that is going to hurt earnings can be optimistic and hate trump about the economy. see mark it's hard to market like that. real quick scott. one hundred today's and sessions without concessions without a 1% pullback. is it that par for the course. people start to panic because they i think the rally is over. i think a pullback would be good. i talked to a lot of investors that have not gotten in. and still have not gotten back in. the key note that they brought up in the first comment they

are rising and not hitting the stock market. it's a different scenario that was seen in the last eight years. that youllery much. the sour witconservati leaders. where does this plan stand right now. the white house moving to support house republicans the president was keith house committee chairman to push the agenda forward. we are working together. if some great results. tremendous. it's not just trump. yesterday hence predicted that the replacement would be done by spring.

the ceo is excited to come out with that score on the republicans bill. the number of folks who will be covered. it's on the screen. it was deeply flawed. the office estimated $22 million. just ten points with the coverage last year. and skeptics say they could be in for the same problem all over again. now one objection to the house the financial penalty intended to prevent people from allowing their coverage to lapse. that penalty would apply to those who failed to apply coverage over the time of the year. under obama care people would buy coverage when they needed it and then drop it when they didn't. and then making it impossible for insurers to price their risk. we talk about the listening

session. how much will be listening and how much will be arm twisting. i think there will be a lot of both my friend. the republican leadership has a lot to do to bring people on board. i think they are exactly to that point to get people on board support. it is yet to be seen what has happened here. it will be very important as we go forward. another reaction from the former house secretary. once again take how do you envision the ultimate bill looking like. i think in paul ryan's presentation today he saved the very best for last. there is no question about it. and paul ryan who is my friend knows health care as well as anybody does and has been working on this i chuckle

every time. why hasn't republicans been working it. they've been working on healthcare reform for the last 36 months if not four years. i think this is the best and probably the most exciting opportunity to change obama care that republicans have. they have got to pass this. there is no other alternative. there is a lot about twisting and exciting observations and conversations going on all over washington and all over the country right now. but the truth of the matter is the same thing happened with obama care. people had forgotten about the fact that the senator nelson's deal in the 22nd or 23rd so all of these big programs you need to encouragement you need some sort of controlling to get it done. we had been promised no

cornhusker kickbacks. charles: we do see where we had two sets of republican who are a little worried here. they think this is not full repeal of obama care they want to fully repeal it. they were on the campaign stump promising full repeal. they are worried about subsidies and tax credits. there are a few other things. those are the two main concerns. how does the white house and paul ryan get around that. there has to be some changes made. there is no question or disagreement that this is a perfect bill. there has to be some real changes made in order to get the conservatives to come together. there is a lot of opposition right now because people don't understand it. there are going to be changes as soon as the score comes out on monday or tuesday that is going to have an influence.

that will help direct some changes. if more people that are probably going to be included in order to get the right decision. if to make sure that the hospitals and doctors are going to be able to have their day in court as well. there's can be some good constructive and positive amendments. i will be part of that. i hope very much that i will have with that. i certainly think we have to pass it as a republican and they really had no choice. we really appreciate it. speemac does the big thing right now. the backlash from that. after this. i think the big problem here was that the left really didn't want a successful

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richard simmons is okay. the fitness guru is out and not missing as some have speculated they are telling to fox news he is just getting older he's okay but other than that he's perfectly fine. and will contact friends and acquaintances when the time is right. the fallout from these comments. comments. no way in hell that i would ever do what he did.

i can't blame people for feeling that way. you can see why they don't go into government. they really do want a successful businessman who started out as a working-class kid. who knew what it was. not to come up with enough money at the end of the month. and we knew what it took to take economic growth. that was really the worst nightmare. they are showing that some are upset with those comments what do they have a point. another very successful businessman. they found scott mcneely. was more more business people consider public life do you think they are being judged harshly or differently from the left in this case andy

puzder it was in the heart. in the main battle with higher minimum wage and things like that. in the main battle with higher minimum wage and things like that. i am certainly in the camp where people have asked me to run for office many times it would be quite an imposition i have always said when people ask me about trump i said the world were ceo is a thousand times better than the worst politician. you are understanding that they just can't print money and tax the best customers extra is just not the way you can operate long-term. yet that's what every politician operates on. we just don't operate under

that model. a business school buddy of mine just became the governor of north dakota. i think north dakota has the best governo the planet. he understands how to create jobs and i think we need thousands of more people at all levels of government. to take the garbage. to go through a better job and maintain it. control over how to control big government. i think maybe the key word here could be accountability. and if you miss even by a fraction we really had and politics. they run again later on. they dance around issues but i'd love the i love the idea of bringing back in the account ability and also the idea of succeeding.

to achieve the mission. i also think that government is monopoly power. we ought to cut back. they should not be in the healthcare business. if you do have to do it. push down to the local level. i does just like to hear everybody you don't want to push the states apartment. in the court system. we don't want to push defense and law enforcement and those kind of things. down to the local level. those are reasonable national and federal priorities. so much of it is there. two thirds of the federal budget is taking money

rightfully own and earn that mone typically a very corrupt way. i want to switch gears and disillusionment. they are looking to give tech companies access to that. i said if you have you have no privacy get over it. i got a lot of heat for that. i just thought that was coming. anything they type or anywhere they are everything is a digital tattoo out there. unfortunately there are times when near absolute security and privacy is helpful absolute inability does breed irresponsibility. would you be this.

they left no footprints in the sand. it's really hard to be absolutely civil when you have absolutely in an amenity. they had access. statement you almost had to assume you have no privacy and something knows what i'm watching. i would rather had it be private companies. it's why i'm such a small government person the less they control of the personal life. like healthcare and education loans and all the rest of it. the less worried that i meant to be that there can we snooping on me to force me to be in power. end rights are something you can give everybody without taking from anybody.

and that should be the role especially of the federal government whatever that they want to go dry. we ought to keep that scope as small as possible. their neck and a change my student loan. thank you. let's take another quick look at ge. they talked about perhaps him being on the hot seat. 2.2% right now. we will see if he gets pressure from some of these outside activist. activists. that tweet is moving that stock. we are going to continue to monitor that and other things as we are poised right now. are they starting to worry about those tax cuts.

the market rally is a little tired and let's face it it's showing more signs of fatigue today. there are some trouble holding on to that open. i happen to like here is the thing. we haven't seen it's been over a hundred sessions. more than 1%. there is the anxiety growth that anxiety growth among knowledge investors. even seasoned money managers. they move higher and higher. they begin with main street and main street enthusiasm. you are seen that in many ways

of course. there has been a variety of surveys is that what is that better assign them the unemployed folks only hitting the break. civilian labor force increased by 340,000 in participation rate. that is the highest level in the year. that's a very pivotal point. and it can actually be that to help with the needle. you can also go out and main stet and my opunity. the other key part of the rally the foundation of it comes from main street as well. its earnings, it's investing, it's more money. so far what we saw as a 2.8% year-over-year increase in wages not the greatest but the really good. as a kind of stuff that really matters. i continue to think that this is a metric to take up very soon for a number of reasons including supply and demand of skilled workers. if you're in this market i would take any near-term pullback as part of investing.

it's can happen of course. if you're not in this market i will urge you to consider a building a portfolio of great american names. the report ever there who is calling for an ugly stock market crash again he jointly by phone. thank you for joining the show. it's my pleasure thank you. run down the scenario. walk it through this crash. i didn't call for a crash i just said that investors should understand that markets can also go down. and it would not surprise me to see the inflated asset markets. it reached eight years of economic expansion.

if you look at the global market is completely out of range of other other markets in the world such as the european market such as the emerging markets. i think there will be a closing of this diverging performance with the market in europe out. of those going down into the u.s. let me just touch on a couple of things. we know that this is the second longest bull market in history but the longest is almost twice as long. 4400 days. in fact if you consider that the longest rally we have a rally from 82 to 87. take out that fremont bear market and it's not inconceivable that you you can have a 6,000 date rally for

putting that aside they'd all had to dive with the old age. and if they start to improve if we start to get better jobs report we start to get better economic reports this earnings season nine of 11 sectors have said that businesses had accelerated the growth. these things continue the output some four -- some part of the floor on it. see mac 86. it was also expanded and we have the crash and 87. and from the august date the 40%. we can have the corrections even in upmarket. i just wanted to prepare investors if you look at that which stock was the most in

2016 by individual investors the stock is down 96%. so if people tell me that the stock market can go down 20 or 40% to make and i disagree. the typical stock in america is already down 9% from a 52 week high and in the last three days what you think tha this is gonna be a little bit funny every day, there were more new lows on the new york stock exchange the new highs in this 1.6% below the old time high in the market that should tell you something. that the market is not quite as healthy as everybody claims. i don't disagree. the numbers suggest that there are big names. you bring out a a big point.

chasing losers. we had run out of time. we always appreciate your wisdom. thank you very much. i would buy a european stocks. it european stocks. we will market that down. any moment now. we are going to bring it to you as soon as it starts. [vo] quickbooks introduces jeanette

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>> or objective is to pass tax refm by the august recess. that is very aggressive timetable but realistic and something the president and i are very committed to doing. >> by august, voted, done, agreed. >> and signed. >> it is stated objective of the president to get tax reform done this year. we're actually prepared to work through the recess. we're prepared not to go on recess we're prepared to stay here and work on it. we can work on it in the fall. we can get it done this calendar year. charles: debate over timing of tax reform. meanwhile vice president pence meeting with conservative leaders to talk headlight care. let's listen in. >> to repeal and replace obamacare under reforms that will lower the cost of health insurance by harnessing the power of free market and state-based innovation. we're looking forward to your

recommendations that. i'm humble and grateful you would take time to be with us today. i'm going to recognize the new secretary of health and human services for a few opening remarks. we'll let the rest of these people get to the press room over at the white house. >> thank you, vice president. appreciate the time that you are providing today, leadership you're providing for this incredibly important issue. i know that the vice president and i both fool that we are inedly honored to serve a president who understands completely outside of the washington bubble people are hurt when it comes to health care and he is adamant making certain it gets fixed. i have the privilege, incredible honor serving him as the secretary of health and human services the it feels like the culmination of a life's work. 20 plus years in clinical practice. 20 years in legislative work. now to have the opportunity to

serve at this pivotal time to be able to help the vice president and the president lead to accomplish what the vice president said and that is patient-centered health care where patients, families, doctors are making million decisions and not washington, d.c. i can't thank you all enough for the work you've done to date and the for the work you will continue to do to help our efforts to make certain that we fashion the highest quality policy agenda that we can when it comes to health care for our great citizens across this nation. >> thank you, dr. price. and with that we'll let the members of the fourth estate get on to their next appointment. charles: the vice president continuing to speak with members there. i want to go to house freedom caucus member, congressman jody hice. a lot of pressure on you guys today. a lot of arm-twisting, a lot of pizza, a lot of bowling.

essentially what the world is being told especially with your caucus this, is binary choice, this is do-or-die, this is the last chance for republicans to do something about obamacare and you have to get on board and play the game. >> i reject that entirely. like buy or selling a car or house or something, you never accept the first offer. we are in process -- this is the people's house, it evolves debate and discussions with items and issues. we're dealing with one of most important issues in our lifetime, health care and repealing and replacing obamacare. this bill is being crammed down the american people based on lies, we all know that. we have the opportunity to repeal it and replace it. an offer is on the table. it has some good aspects to it but it has some flaws and we're going to fix those things and hopefully give to the american people what they sent us here to do. it begins with repeal. charles: what are the flaws that you see? >> well, you've got the

expansion of medicaid, for example. if we're not careful with this, it will turn into an entitlement. that is not what the certain people sent us here to do in november. we have to deal with that aspect of it. you have insurance companies still under mandates so they are not capable of offering cheap plans. high, if someone wants a catastrophic plan to keep costs low, insurance companies are not able to offer that under this. they're still under obamacare mandates. we're making progress in that direction but there is still work to be done. charles: are you concerned about tax credits? >> tax credits is one of those things that is causing some angst with some. my big issue with the tax credit is again the government requiring how these people spend the tax credits. once they get them they're required to buy insurance off the exchange rather than buying the insurance of their choice. i think those type of things are

concerns for a lot of people. charles: so, what do you like about it? what does the freedom caucus like about the bill as it stands right now? >> well you know he, it repeals the employer mandate and the individual mandate t opens the door for health savings accounts. there are good positives in this thing but we have to be very careful at the same time we don't start entitlement programs. we need to put a freeze on medicaid expansions, things of that nateter, it has a 30% penalty for those who drop their insurance. perhaps for unfortunate times they fall in. these things we need to work through. charles: there are some republicans who say a promise was made to american public to completely repeal obamacare. and that anything short of that,

is letting down the very people that bottom you into power in the first place. does that leave you little room to compromise? is it a position your own individual ideology, not you, but anyone who believes that supersedes that you must negotiate and some people must have compromise? >> that is what washington is about, working through things. the yes, the american people sent us here to repeal this they didn't send us here to come up with a gop version of the same thing. we're here to repeal it and we are in process of trying to get that accomplished. now i understand that may be a process that all of it can't be done in reconciliation. i understand that. i get it. we don't want to pull out the rug out from anyone. the purpose has to be what the american people sent us here to do. that is get rid of this disasterous bill and replace it with true, conservative,

market-centered, doctor-centered, patient-centered solutions for the american people and drive the cost of health care down. charles: representative hice, thank you for your time this afternoon. >> my honor, thank you very much. charles: the white house briefing is set to begin any moment. of course we'll bring it to you. that's next.

charles: take you to sean spicer and white house press briefing. >> a little attribution to rahm emanuel for that one. as many of you know today is day 50 of president trump's administration. a lot to talk about, a lot that has gotten done. i also want to acknowledge today is also brian's birthday. happy birthday to brian.

i let you guys celebrate amongst yourselves afterwards. just these first 50 days the president has taken many key steps towards delivering on the pledges he made to the american people as a candidate. he jump-started job creation not only because of his executive actions but through the surge of economic confidence and optimism inspired since his election. president trump knows exactly what businesses need to thrive and grow, therefore adding well--paying and steady jobs to the market. obviously we're very pleased to see the jobs report that came out this morning. it is great news for american workers. during the first full month of the trump presidency the economy added 235,000 new jobs and unemployment rate ticked down to 4.7%. notably we also saw significant growth in the construction, manufacturing, and mining sectors. the unemployment rate ticked down and labor force participation rate ticked up, showing that even as more people are reentering the job market due to the economic optimism that i spoke about, businesses

are continuing to grow and create new jobs. the president looks forward to continuing his work with the private sector to clear roadblocks to key infrastructure projects, withdraw from job-killing trade deals like the trans-pacific partnership and slash bureaucratic red tape that makes additional hiring different can cult for american businesses. he has taken action to insure the safety and security of the united states homeland, its borders and its people. he has proposed great rebuilding of our nation's military, following a full review of our military readiness and supported by $54 billion budget increase. he implemented new protections to prevent people coming into our country that seek to us harm as a result of the presidential memorandum he signed on february 28th. he has a plan to defeat isis designed by the secretary of defense and the national security team. just as he promised during the campaign he made enforcing our

nation's immigration laws a top priority with signing executive orders that start work on a southern border wall that enhance the safety of americans threw ordering strong enforcement of immigration laws already on the books. halting funding to jurisdictions in the united states that don'tn rules and directing the department of homeland security to hire combined 15,000 new officers and agents to support the system around protect the nation. he has outlined an aggressive legislative agenda that includes tax reform and relief to small business and middle class. massive infrastructure investment that will generate jobs and rebuild our nation and repealing and replacing obamacare. in fact this week he began working with congress directly repealing the worst parts of obamacare and replacing it with the american health care act. this particular legislation it just one one prong in the president's comprehensive approach to reforming our health care system. the administration is also taking additional steps to stablize health insurance

markets and start bringing down costs for the millions of americans that have been affected by obamacare. such as stablizing insurance markets through regulatory reform, including the ability to purchase inus insurance across state lines, providing individuals and families with access to lower cost options by loosening the restrictions on the financial structure on plans offered through the obamacare exchanges and finally the president's committed to working with congress on additional legislation that won't be subject to the budget reconciliation process that will allow the purchase of health insurance across state lines. that will streamline the process of the fda, to bring down the cost of critical medicine, to allow for the, expansion of health savings accounts, to allow more americans to use their funds for more health care costs, headlight care related costs and so much more. there is one page fact sheet that lays out the three prongs of the president's plan to repeal and replace. all americans can see that

one-pager available at whitehouse.gov/repealandreplace. feel free to download it and share it this weekend. this administration is already looking forward to all we've been planning to accomplish in the days and weeks ahead. you should have a document outlining in each of your email boxes the president's major actions since these first 50 days. we made it available to the public as well at whitehouse.gov. in terms of the schedule for his 50th day in office the president will have series of meetings and calls evening moving further along to some of the most significant campaign promises to the american people. after receiving the daily intelligence briefing this morning the president held a key discussion with key house committee chairs. the president thanked and congratulated the cares successfully ushering the american health care act through the first phase of the legislative process. he was pleased the bill passed through both committees, energy around commerce committee and ways and means committee with unanimous republican support.

they discussed working together on additional regulation that will have health care work for every individual family and business. together the president and republicans in congress will act decisively to keep their promise to the american people. in attendance in the meeting including the vice president were congresswoman black, the chair of the house budget committee, congressman brady, the chair of the house ways and means committee, congressman walden the chair of the house energy and commerce committee, congresswoman fox the chairman of the house education and workforce committee and chairman goodlatte of judiciary committee. in addition to the hill outreach senior officials at department of health and human services met with the american medical association to discuss the bill and will be meeting with additional stakeholders in the coming days. the president is committed to make the system better, and that includes the team hears feedback from all interested groups in terms of a more affordable and accessible health care. the president had a call with president abbas the palestinian authority.

we'll have a readout of the call soon. the president had lunch with secretary of state tillerson and this afternoon he will meet with the secretary of housing and urban development dr. ben carson. he looks forward to discussing hud's mission to provide affordable housing especially ways to combine with the private sector to turn the public housing situation around and empower the struggling communities. looking ahead to this weekend, the president will spend the weekend at the white house in series of meetings with the team. the vice president's office already announced the details of his trip to louisville, kentucky where we will participate in listening sessions with small businesses and job creators throughout the meeting and joined by governor bevin will hear from local small businesses. the vice president will discuss the president's economic agenda, especially the repeal and replacement aspects of obamacare and how it will reduce the burden on small businesses. he will then conclude with the

formal remarks with trane parts and distribution center. judge gorsuch confirmation hearings will begin on march 20th. yesterday the american bar association reported their committee, determined that by unanimous vote judge gorsuch was given a quote, well-qualified mark for the supreme court. the president looks forward to seeing judge gorsuch receive a speedy and fair hearing and up-or-down vote on the senate floor. finally the president's weekly address is out. it discusses women's history month and his plans to repeal and replace obamacare. it aired this morning on facebook live. it is available to watch on youtube and whitehouse.gov. i encourage everyone to go check it out. with that i would be glad to take your questions. john roberts. [inaudible] >> john roberts always helping with the fashion tips. i appreciate that. no, there is no promo.

john, on to your questions. but thank you. >> our involvement in sending rangers and marines in syria marks a dramatic cnge inur presence on the ground there. i am wondering how much at ton my is the president giving general james mattis to involve u.s. forces on the ground in syria? >> a u.s. marine artillery unit and a team of rangers have recently been positioned in syria to provide combined joint task force operation inherent resolve. the commander, the agility to, pa diet the destruction of isis in , pa diet -- expedite he destroying isis in syria. forces deployed under exists authorities for a temporary syria to enable our syrian partnered forces to accelerate the defeat of isis specifically in raqqa. as i mentioned before, one of the things that the president has insured is that the commanders have the flexibility

to do what they need to fulfill the mission. the president is obviously as commander-in-chief made aware and signs off on all of those missions. but at the end of the day it will be up to the generals to execute their mission to make sure that we continue to defeat isis and protect the nation. >> now our involvement there really complicates the whole picture because we're aligned with the kurds but at the same time nato-ally turkey sees the kurds as enemy. then with russia and its involvement with the syrian government. the big problem with iraq was, we never planned for the day after. >> right. >> what are the plans for the day after here when raqqa false who occupies it? >> what i said in the script what the president has done during the first 50 days, issue a executive order on january 28th, for the secretary of defense issue a

comprehensive plan with the security chiefs and comprehensive plan to defeat isis. that is part of the plan. you're seeing a comprehensive approach how we will engage in syria and the total defeat and elimination of isis that is part of an ongoing process the secretary of defense, chairman of the joint chiefs and others have been involved in briefing the president. >> but does the president have an idea who should occupy raqqa? a coalition? should american forces say there? >> as we devolve that plan i will have more for you on that. i think you already killed one question friday. we're going to get back to it. john karl, one question friday. >> i make it one. sean, the chair and ranking member of the house intelligence committee asked the justice department to turn over any information they have that there was any wiretapping of president-elect trump, candidate trump, trump tower. if there is no evidence that any wiretapping took place, will the president apologize to president obama for making such a serious

charge? >> let's not get ahead of ourselves. i think it is important to see where that goes around i don't want to prejudge their work at this time. jim? >> if there is no evidence, what -- >> again, but i you're asking, what if there is evidence, i mean, i'm not getting into a series of hypotheticals prejudging the out come of a report or investigation that hasn't occurred yet. once that is done we'll respond appropriately. jim? >> thank you, sean. senator cory gardner was reported by "politico" yesrday to have said he doesn't believe that 14 billion-dollar wall along the mexican border is the best way to provide border security. does the white house see support for the border wall weakening in congress? >> no. the president was very clear, that was something he campaigned on and promised the american people as an effort to protect our national security and our economic security. and he will fulfill that pledge. he started to work with the department of homeland security on both plans and funding

mechanism and bidding and rfp process it will roll out slowly or shortly i should say, but that's a pledge he intends to maintain. john bennett? >> sean. action on the hill with health care lately but april 28th is right around the corner. government funding expires. given during the transition period you guys asked for a short-term cr so you could weigh in once you were in office what is the white house doing right now to avoid a shutdown? i talked to sources, they couldn't point to specific talks. what is the state of play there? >> director have main very will release his budget on the 16th. that is the first step to get the budget under control. we're approaching $20 trillion of our debt and i think we need to get spending under control. and so part of funding the government goes hand in hand with keeping track of what we're spending on it and what we're spending on what our priorities are.

we have begun the pass back process internally within the executive branch. director mulvaney had several conversations with members on the hill of both sides. vice president is actively engaged as well. to your question, that is part of the process. we need to release a budget first what our priorities are for the coming fiscal year. to make sure we do what we can going forward. this goes hand in hand with that. >> to finish out the current -- >> i understand. fiscal year' 17. but they go hand in hand. you need to close out fy-11. our budget lays out where we go and fy-18. once we have a handle on fy-11 we can backfill '11. >> do you want cuts for '11? >> i appreciate. we're not having that discussion here.

>> the president said he welcomes compromise, and they're open to compromise on the immigration legislation coming up. when she spoke at "the christian science monitor" press breakfast minority leader nancy pelosi said would like to see the comprehensive immigration package that passed the senate and stopped in the house brought back. that was her version of a compromise on immigration. what is the administration as position on what former speaker and minority leader -- >> you're referring to the "gang of eight" bill, is that correct? >> that's correct. >> the president made it very clear during the campaign trail that is not a bill he supports but he looks forward engaging with members to find a way forward to fix our broken immigration system. that bill in particular was a non-starter. it was a nonstarter when it came out the first time. it continues to be a non-starter of the president recognizes the

system is broken and he want to work with congress to fix it. hunter. charles: we'll monitor the white house briefing. more fallout on my show, "making money" at 6:00 p.m. here is trish regan. trish: thank you, charles. we're watching white house press secretary sean spicer giving "the daily news" conference. we'll continue to monitor that for you. we'll bring you any headlines that come from the conference. as the white house tries to emphasize the success of our economy with those jobs added, 235,000, the he left is on the attack. insisting that donald trump had nothing to do with amazing job numbers announcing today. nancy pelosi specifically saying, and i quote, he didn't lift a finger to create jobs. just came out with moments ago.e i guess, miss pelosi forgot about all his recent meetings with business leaders, ford, carrier an boeing just to name few, right?