>> i regret that our efforts were simply not enough this time. >> breaking news republican efforts to dismatterole obamacare collapsing, in the senate moments ago after skinny plan to repeal and replace it failed to get enough republican support live reports from capitol hill as well as analysis of what is next, for the long efforts for health care reform. >> quite a night in washington we are all over it we also have drama happening, at the white house overnight, as new communications director anthony scaramucci usees

vulgar language in interview with new yorker to lash out at the white house chief of staff reince priebus. >> stocks under preciousch overnight following yesterday's technical sell-off amazon shares sliding after latest quarterly results futures, dow down 14 nasdaq down 46 this morning. >> and in europe, a stock actually trading lower as well the cac, dax in rode this morning. >> starts right now. ♪ ♪ it is 4 a.m. in new york it is friday and early one for us for you july 28th a lot going on that is why we're coming up early i am lauren simonetti. >> good morning, everybody. i am cheryl casone we are watching that hecht sector the stocks are going to be in focus. >> absolutely, we've got a where a lot of breaking news

to catch you up on this morning. the senate, failing to pass the so-called skinny bill, to repeal parts of obamacare, three republicans voted no, on that measure. >> let's bring in adam shapiro live on capitol hill with the very latest on the situation what exactly happened about two hours ago with this vote. >>. reporter: it was jane mccain he voted no, and that was the end of the skinny repeal effort the skinny amendment, to the health care bill, which senate could still one point if they were to try vote upon but it is unlikely to pass get where we stand where we're going president trump tweeting this morning adequate from tweet, three republicans and 48 democrats let american people down. as i said from the beginning, let obamacare o implode then deal watch, who were the senators that killed this effort, this morning it happened within last three hours you have obviously susan col friendships maine has been

consistent voted in 2015, against repeal, lisa murkowski from alaska administration putting pressure on murkowski didn't work, of course, john mccain he issued a statement not too long ago about this is vote he said this is a quote, from the beginning, i have believed that obamacare should be repealed and replaced with solution that increases competition, he or less costs improves care for american people, the so-called skinny repeal amendment senate volunteered on today would not accomplish those goals. then, of course, what happens next where do we stand? leader mitch mcconnell said this on the floor of the senate just moments ago. >> i think the american people are going to regret that we couldn't find a better way forward. and as i said we looked forward to our colleagues on the other siding addressing

what they have in mind. >> so now mr. president it is time to move on. . reporter: when he says move on there are several things that still have to be accomplished, raising the debt ceiling a budget resolution, of course, tax reform but if you are a scorekeeper trying to figure out part of what happened john mccain made it clear that he was not convinced, that speaker of the house paul ryan was committed to going to a conference committee to work out the problems with the bills in both hours one of the reasons john mccain voted know. >> a surprise in all this was overnight decision, from john mccain, to say "no", adam shapiro live in washington a long night early morning thank you very much. >> the question is what happens next, for republican efforts to repeal and replace obamacare, as they have been trying to do for seven years joining us now gop strategist lloyd mathison political strategist eric good to see both of you i want to begin

with you. you know this was it is a is this total nail in the o kovn for republican party what do they know. >> epic failure for leadership in the republican party in the senate this is a crushing defeat for mitch mcconnell, and really you have to question why, if they were really going with this kind of strategy why didn't they do this in january or february? if this was really where they were going to end? so really wasn't a -- a right process, to get to the right policy. and that is a problem, really this was a bill that was much more about big insurance companies bailouts than health care for the american people, and i think ultimately that is why john mccain said, no, this isn't worth it, in fact, the reason that it ultimately failed is because the republicans actually wanted a guarantee that what they were about to pass would not be voted on in the house, that is no way to reason i a conference, and i think time for serious soul-searching in terms of leadership within

senate for the republican party. >> let me stay with you two seconds what are you hearing about mccain's decision he stood on that podium yesterday with fellow senate republicans said if we get a confirmation from paul ryan, that they will take this to reconciliation mccain seemed to be onboard i am wondering if you heard anything from any contacts you have, as to really what happened with mccain what those it this conference in the back room the cloak rook with mckconlook room. >> i don't think -- everyone i talked to said still 50-50 where mccain would go has a press conference earlier yesterday, saying that hey, we are not about comfortable with this not comfortable how this is going to move forward, so i don't think he was i think a lot of people were hoping that the reason he had come back to cast a vote was to get it all the way through, and i just don't think he was there ever i think he was willing to cast a vote to start the debate buts he wasn't willing to give

a vote away to end debate on something as serious as health care. >> eric let me bring in you what were the concerns from three republicans voted no on this skinny bill would have raised premiums by about 20% left 16 million without insurance what were concerns from those three republicans looking on the screen every single democrat. >> one biggest ones was maid certain states what it would would do to people impact on human level. that was pretty significant to some of these senators i think also about the marketplace so you have a system in which you are now going to eliminate the mandate, but you are not really incentivizing young people and penal that are healthier to want to answer into the system and in that kind of a situation, you've got an insurance marketplace that is going to blow up. you are going to only see premiums go up because it is obviously you are going to largely be sure, sick people a big problem, i think there are other things as well, but

those are the big ones. that just said, they are not going to do it and i think that also with mccain, i think mccain didn't trust ryan. i think they figured they figured that once this got passed they would rush it through, and try to get something done, and i think that he probably is right in that regard. >> that is interesting i thought would have skinny on that pin intended, let's talk about this, because one of the things that we are facing now, is potentially -- comlofks of object kaine senator sthumer saying we realize issues ready to work on this need to get going on defense bill, chuck schumer was very clear he has been saying i am going to reach across the i'll we will work with you we know this is not perfect can republicans take the hand reached out by chuck schumer, and -- some point when they get book to health care can they start to work together? . >> you know, if they actually get to regular order something

that both senator mb kaine said in his speech yesterday also, what chuck schumer was saying tonight, in the middle of the night was hey let's get back to regular order i think that is the most important thing for the country, to recognize, when the senate does function in regular order they can get things done they can get across the aisle they can get important things done, it when is they play all these games we have been talking about games for several weeks now, cheryl, that, you know, if you do it in secret you don't have a chance to really amend it until middle of the night raise money often as a wedge issue present false choice all or nothing frustrating to the american people, and so i do think there is an opportunity here, but i am not sure that mitch mcconnell is ready to reach across work with chuck schumer i think chuck chick is a couple steps ahead of mitch mcconnell in terms of strategy side of that you will. >> we will see, thank you for perspective good to see both of you thanks for getting up early. >> thanks. >> thanks.

>> the key word i got from the comments to us, well, with white house communications director, anthony scaramucci speaking out oft interview with new yorker published last night scaramucci tweeted get, i sometimes use colorful language will will refrain in this arena but not given passionate fight for donald trump's agenda this comes after several excompleteives allocution reince priebus being paranoid schizophrenic. >> accused bannon burning to bunish his reputation press secretary sarah huckabee sands explaining what went on. >> i think that sometimes, we have a lot of passion, not just passion, for the president, and the agenda, but sometimes when you have the best people from around the country, coming in with a

variety of backgrounds very different perspectives you may not agree on everything we have to push forward exactly what we are doing. >> priebus bannon reportedly opposed scaramucci appointment last week, as communications director. >> more drama out of washington, attorney general jeff sessions sharings thoughts on president trump's recent criticism over recusal in russia vacation president expressed disappointment in top official in steers of tweets news kfrs at the white housening to sessions addressed criticism correctly with our tucker carlson. >> it is kind of hurt full but president of the united states is a strong leader. he is determined to move this country in the direction he believes it needs to go to make us great again, and he is -- has had a lot of criticisms -- determined to get his job

done he wants all of us to do our job that is what i intend to do. >> okay, at the attorney general also said that he is confident that he made the right decision the to recuse from russia probe. >> paul ryan dropped one of the most approval parts of tax reform plan the border-adjustment tax would have increased prices, of items imported to the united states maria bartiromo statistic down with house speaker to discuss latest developments on tax reform. >> you have released a joint statement on tax reform today. you put some -- principles in it, in terms of the architecture for tax reform you say the border-adjustment tax is no longer on the table how did this come about tell us what a you are trying to communicate. >> what a we're trying to communicate we think most of all that is important is that we come to common ground on how to do tax reform, so that we can get tax reform done in 2017. about whatte what i and house leaders pushing bored i still

think the way to go right tax reform plan but if it stops getting to consensus to get tax reform done then we don't want that to happen mean o border adjustment we want consensus to get tax reform done more important for us than anything we get tax reform done because we think it is absolutely critical, for strong economic growth. and so what a we want to do is go through and look at the details to see if there is a viable alternative to a border-adjustment tax, if there is a way of doing tax reform still gets what we're trying to get low tax rates, compensatesing territorial system the aspects we agree on want to make sure we can still achieve those things without having a cash flow tax or border-adjustment tax tax once we realize that is viable we agreed we need a common template now getting writers ways and means committee,

takesing on writing tales within template we now agreed to getting consensus between white house senate and house on a way forward on tax reform makes it that much more of a viable especially i feel much more confident that we're going to stick to tax reform because we have side we have consensus here is a framework let's go get it done. >> -- entire interview with house speaker paul ryan later this morning 6:00 eastern time, on "mornings with maria". right after this show. >> another high progressively candidate topping the short list for uber's vacant ceo position. >> good friday morning to tracee carrasco joining us with more on that plus the other headlines making news this morning, hi tracey. >> good morning ladies uber is considering, ge chief executive jeff immelt stepping down from role there at end of august, now earlier in the week we told you about another name that had been floating around for the job, hooul mule especially ceo meg whitman last night cleared up rumors with a series of tweets,

saying we have a lot of work still to do at h-pe, i am not going anywhere uber ceo will not be meg whitman. >> tracey talk about amazon under pressure. >> amazon profits missed wrote a expectations yesterday, sending shares down 4% in after-hours trading. the company reported earnings of 40 cents per share on revenue, of 38 billion dollars during a second quarter below 1.39 share analysts predicted, but even as profits dipped about 77%, amazon kwrl revenue rose 25% to 38 billion dollars better than analysts estimated, operating expenses increased across the board, in part explaining why the profits slumped the biggest boost in spending in cost of sales, technology, content. >> stock to watch certainly

today, but speaking of amazon we are hearing jeff bezos reached a big mile stolen yesterday, i think i know what it is. >> he did, unfortunately it did not last long. jeff bezos starting out thursday morning as richest man in the world dethroning bill get afters top is to the since 2013 amazon shares ahead of earning report gave beside az net worth 92.3 billion dollars surpassing 90.8-billion-dollar fortunate short-lived afternoon trading bezos slipped back to second place. >> man. >> come on. >> rally care four billion dollars among friends, tracee carrasco. >> thank you. >> thank you very much. >> and we come back republicans fail in their latest efforts to repeal and replace obamacare we are going to take a look at what is next for health care reform and how it affects your portfolio insurance stocks this morning particularly, and later on we are going to find out how fast or slow the economy grew in the last he quarter, second

quarter gdp the first look at it, coming up you are watching fpnam. >> the stock prices kt affordable care act for profit hospitals pharmaceutical sxaenz insurance companies sigh rocketed clearly something is wrong patients are paying higher premiums taxpayers are paying more for that all that the problems for -- we can address. potsch: you each drive a ford pickup, right? (in unison) russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)

>>. >> let's get you caught up on what is happening now, well, amid heat debate over health care the senate managed to pass one piece of legislation, bipartisan vote approved sanctions to psh russia for alleged interference in 2016 u.s. election sanctions against north korea and iran president trump has not said whether he will sign the measure officials s expressed skepticism about it. >> well, the crisis in venezuela, is growing, violence continues to remaining in the streets and government has now banned protests next five days, fearing danger many stocking up on food staying in their

homes, u.s. government ode family members to embassy employs to leave inventories as a scorecard on the economy is out later this morning, the report on growth chb domestic product to slow growth 2.8 percent twice as fast as three months of the year markets crazy. >> they are let's take a look at how failure of skinny repeal amendment could affect health care stocks market jonathan o hoenig, joining us very early this friday morning happy friday. >> thank you, good morning. >> i am thinking of this situation, and basically, this latest gop evident to dismantle obamacare failed means obamacare is preserved isn't that certainty for health care and we could see even -- for instance go up today? >> i think ironically lauren the status quo the preservation of obamacare, is

a positive in the failure of the so-called skinny bill what 1:00, 2:00 in the morning could be a positive for health care stocks specifically insurance stocks outperformed the whole year dramatically from s&p in anticipation of potential bailouts under obamacare, however long term it is net negative for insurance companies for health care companies, simply because more government control, more government intervention, we know that is a negative, and i think you could see short term selling, people are looking for a reason to sell this overbought market ironically skinny bill failure could be. >> it one of the reasons that many investors those that either own or analyze health care names is the fact that they don't know, obviously they didn't know what things were going in washington but if obamacare is pushed in 2018 likely will be, that means those that are left under the exchanges are still feeling the financial pressure of the cost burden of obamacare, doesn't that become a negative for those that are left?

some we should say pulled out exchanges completely though. >> tremendous negative we know that obamacare has been a disaster, for those who used it and participated in it long term, the financial stability of it is certainly suspect in question. but i think cheryl to your point short term uncertainty cleared up i think a net positive for stocks, because if you don't have to worry about what is going to be result of a vote 1:00or 2:00 a.m. if you picked cell phone plan in this manner going to bed not knowing the answer when you wake up because of a midnight or 1:00 a.m. vote would you be hesitant to sign up for a phone plan the same thing with health care, i think this is certainly no way to bring certainty to marketplace by mil of the night votes that you don't expect to pass in the first place that negative for health insurance stocks again people i think looking for a reason to sell, especially given amazon news in the massive run-up of stocks this year. >> i am glad you brought that up this is peek week for

earnings 180 companies reporting we are halfway through the earnings calendar, today we are going to hear from three dow components specifically exxonmobil chevron merck. your expectations for how particularly oil giants are going to do in light of low oil prices, but also in light of what has been a very strong earnings season. >> has between strong earnings season even for some oil companies as you said have been underperforming the shth ma, you know people have tried to call a top to this market for a long time the bull market i believe still on but looking for a reason to sell off we said as you said, all-time high after all-time high, tremendous absence of fear in the marketplace all-time low in that income tax vix tremendous consumer sfs 16-year high numbers good not only with earnings but gdp at 8:30, you see a sell-off today amazon a big reason why people see major growth stock

down on open, i think to endcy sell first ask later especially given massive run-up we have had. >> s&p speaking of massive run up, up four weeks in a row thank you. >> things. >> a lot more coming up on this early edition, drama on the flow of the u.s. senate republicans tried and failed, to push the skinny version of the health care plan, we are going to have a live report from capitol hill get you caught up on that plus analysis what is next for health care reform and the rest of the agenda, and looking at stock markets futures to break right now the dow s&p, nasdaq at this point to open in the red, of course, we are going to watch for gdp readings that could change the entire game, you are watching we will be right back. ♪ i would to my dear friend majority leader we are not celebrating we are relieved millions and millions of people who would have been so drastically hurt by if

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so-called skip bill would have gotten rid of individual employer mandates failing to repeal parts of obamacare republicans joining democrats voted no on that measure. >> we've got adam shapiro live on capitol hill very long night for lawmakers, got the latest going on good morning. . reporter: good morning cheryl lauren a long night. missing right to where we stand this morning president trump tweeting a few hours ago i want to read you this tweet, quote, three republicans and 48 democrats let american people down as i said from the beginning let obamacare implode then deal watch who are those three republican senators who voted with the

democrats against the skinny amendment the skinny repeal amendment it was susan collins of maine, john mccain of arizona the shocker of the morning, and then lisa murkowski from alaska, john mccain issued a statement soon after historic vote saying quote from the beginning, i have believed that obamacare should be repealed and replaced with a solution that increases competition legislators cost and improves care for the american people, the so-called skinny repeal amendment senate voted on today would not accomplish those goals. >> ted issued a statement said to the press a few hours ago. >> i believe this congress will come back and in time, we will honor our promise, senators are going to go home, next few weeks going home to their states, and they are going to face their constituents, they are going to have hard questions of people looking them in the eyes say why did you lie to

me, by the way -- the senators voted no senators voted yes are going to be asked why did you lie voters are not going to distinguish they are going to say you guys promised to do this and you failed. >> when senator cruz says there could still be something in the future, remember they were not voting on the actual bill. they were voting on an amendment to the bill. so if you are keeping score, and looking for the clock to run out, september 30th essentially the decline right now this bill they were debating adding amendments to attempting to add amendments that bill has little chance passing in the senate but it is still there, it is not necessarily dead. back to you cheryl: interesting point because you can explain to me as well several times because of the procedural issues of the senate, that this entire thing will be done they have to start from scratch, if they bring up health care after october about 1 correct? . reporter: that is correct, we are operating under 2017

budget resolution allows them to pass a health care reform under reconciliation i.e., a simple majority, this is a very hard task yes, they could still do it if they got together, and made it happen. lauren: speaking of october isn't in late october when we see how much our premiums go up? . reporter: you know i don't know the answer to that. but i know that the cbo was saying had they passed this amendment and passed it as a bill, then it had to become law, premiums were expected to go up about 20%. lauren: adam shapiro how many couples of coffee this morning. reporter: i haven't had any yet. lauren: go get one see you in a bit. cheryl: we actually had a long talk about the procedures of this the fact that they had a very small window to get this bill through after that gone, and this is what bipartisan could kick in might reach out to democrats. >> once again gop strategist

lloyd moethson political strategist eric thanks for staying with us covering breaking news ovnt eric i start with you this obviously is going to be a political football, for the republicans, when they go home, and start to face very angry constituents, they promised would repeal and they said no, they will not dems are going to take advantage of all this. >> they will i think you are going to have many individual members that are going to say look i voted for it, it is the other guys that didn't certainly, they should have. and i think that there is also an argument of concern thank that many people that are looking and watching what happens realize this was a terrible bill. this was not going to get it done this certainly for conservatives staunch conservatives didn't go far enough moderates concerning, they didn't figure it out they through it at the last minute, and so i think people also understand. but there is going to be a lot

of angry people at the same time that will be, i think holding those accountable that didn't do it. it will being from to see what happens. >> skinny amendment was a way to keep health reform alive intense amount of frustration in the white house within republican ranks, how is this going to play out for the mid terms next year? >> you know i don't think this is going to cause blue wave that a lot of people have be predict that he realize what a have beening to reinvent swamp president trump has a long ways all the polling that i have looked at, the things that i have gone would ever with scott rasmussen good pollster friend of mine not seeing anything in terms of of there being a major shift. now i think that angst is going to continuing to i think we continue to have more problems with obamacare as people might have access to

health insurance but don't really have access to health care, and that will really be the test coming through midtemperatures also interesting to see what happens in terms of discussion, will the republicans lead out in a discussion about health care and what that really means for american people. >> do they switch gaeshz focus -- switch gestures we want to talk tax reform ready for that you've got the budget, raise debt ceiling you've got to fund faa there is a lot of things on the agenda they have got to deal with this isn't only piece of business in front of congress. >> look i hope they get into tax reform. i really do, and i think that they likely will i think you are going to see some other things come out, that doesn't mean they may not switch gabbiback, wouldn't surprise me to see a deal with democrats at the end of the day, because you know, what boyd was saying is correct at the same time, people want both sides to work together the polling is really clear on that as well.

and it will be interesting i bet that is what happens. >> we saw anthony scaramucci recent comments about reince priebus. the point of anthony scaramucci coming in is to get the white house back on track, what is the donald trump message where is the next legislative win coming from i don't think scaramucci helps the president. do you? >> i -- i agree lauren he definitely did not help it created more distraction and more distrust everyone talking about leaks being problem leaks happen when no loyalty right now fractured everyone in their role transactional with president with staff what you have to have is one going to come in and unite create relationships within that organization. then you can get on an agenda, then you can get a vision moving forward. right now just every person for themselves, everybody is reporting to the president, which is absolutely absurd you

have to have someone who is keeping the trains running on time, keeping the agenda running on time. cheryl: i got to stay with this quick because you know we are hearings factions in white house right now, and seems to me, what we are hearing is that you've got bannon priebus realizing they have a common cause, that is to maybe go against scaramucci, and as well as you've got jared kushner, ivanka trump people so many what at war vying for president's attention for favorability seems to me strange bedfellows now in the white house. >> you really you really do, and i think one of the things that i was suggesting they needed skwon who can stand to the president with confidence, but also rally the people together, someone like a dave, gets inside outside conservative movement the policy pieces, but a relationship guy, and i think he would be someone as a center point in there could be very helpful to the president, to get the agenda rolling keep some factions from going after

each other, and going after the things they need to -- >> final words as we wrap up how does white house get back on track get back on that trump agenda. >> well, i think that donald trump is going to need to lead it. certainly he likes chaos, when you look at his business enterprise there is also a been choose internally. scaramucci i believe there as a catalyst i think a catalyst to get out some players that trump doesn't want his fingerprints on, and perhaps become chief of staff, so i think that you are going to see some changes in personnel he needs to rally congress arrange tax reform a great. mr. platform to get agenda back on track certainly i am hoping that is what they are going to pick up on. >> scaramucci knows a lot about -- tax reforms. >> economic agenda frankly many investors want to see, boyd eric thank you so much for perspective i appreciate it guys. >> thanks.

>> tesla has been warned of potential hacking about capabilities on model x. >> tracee carrasco back with us has more on that some headlines that are making news this morning, good morning. >> good morning ladies the second time, chinese security researchers able to hack a tesla model xturning on brakes remotely getting doors trunk to open and close blinking lights to music streamed froo car rao references call unauthorized christmas show, the fact involved mall shas software through web bringser to remotely controlled carveya wi-fi connection, researchers told of discovery in june company patched vulnerabilities, tesla encourages research to prevent potential issues from occurring. >> we like christmas shows. >> sounds outrageous. >> frightening for drivers we hear that billionaire branson

is selling some of his part of his company all of it what is going on with him. reporter: richard branson selling majority stake in version atlantic airline he founded in 1984. announced yesterday selling 31% stake to air france klm o to -- for 360 million dollars branson retains 20% interest leaving delta largest share holder 49% airline says move part to paper reenforce strategic commercial financial ties. >> if you like listening to music on your personal devices there is fewer ways to do it at apple now. >> i am sad about this one actually, the end of n era for ipod apple initially killed off the ipod nanoand shuffle leaving ipod touch, as only remaining version of the company's iconic portable music players says a move to simplify ipod lineup by only

offering two models of the ipod touch now starting at 199 dollars the original ipod was not first potential music player when it debuted in fall of 2001 but helped patricia from being just are a computer company to giant it is today. >> i have one at home unwrapped, the nano vintage, i like -- person doesn't listen to music on my iphone. >> i like the separate, i do too. >> i remember first pink ipod. >> pink. >> yeah back in the day. great story thank you very much. >> we've got a lot more coming up, of course, on early edition of fbn:am the latest on drama that unfold on the floor of the u.s. senate health care showdown happened, republicans failed in latest efforts to repeal and replace obamacare. and we are going to take a

look at health care workers, patients, the health care economy overall and we two to break u.s. stock futures pointing to slightly lower opening gdp reads later this morning could be a game-changer for markets and it is friday you are watching fbn:am. >> it is time to for friends on the other side to tell us what they have in mind. and we will see how the american people feel about their ideas. ♪ .

>> happy friday caught up what is happening right now, there are new charges obama administration made hundreds of unmasking requests in final year in office, house intelligence chairman nonees says officials sought identities of trump associates

in intel report, wrote a letter to director national intelligence saying one request explains why the information was needed. sad news indiana, police officer is dead after he was shot multiple times investigating a car crash, outside indianapolis police officer allen a 2015 officer of the year for the police department reports say when he approached the vehicle one of the two occupants started shooting in markets american airlines checking in with second quarter earnings until thes expecting lower profits compared to a year ago because of higher costs i know scratching your made what about baggage fees pharmaceutical giant merck posting results before market opened investors surprised with the company's better better-than-expected bert report in any case happening now.

>> of course work looking at this today markets open of course that is the story, after breaking news overnight that senate failed to pass the skinny plan to repeal and replace obamacare, what is next for economy as calling it bring in dr. mark siegel fox news medical a team economist peter. >> good morning. >> good morning. >> peter i do want to start with you on this one one of the things this latest plan from senate failed to do was control costs we have never seen that, in the current health care system, really in any plans peter is that the key here, to if i could say the system. >> two things i believe are key, one is controlling costs that is probably going to mean ratinging prices not talking doctors fees talking hospital overhead drug prices things of that nature places where market is monon onlived. >> entertainments nobody wants

to take a laid on krauchz walking up three flights of shares working on medicaid we have millions that don't work are not willing to work are of working age, work requirements for those guys make some sense. without just giving it all away, without some price controls it is hard for me to see how we can get out of the mess we are in, after all obamacare can't go forward as it is, it is going to require a lot more money, the country doesn't have. >> you know, and so basically, watching obamacare implode so what happens to patients right now in need of health care? and good quality health care? under obamacare and under whatever a new system, of repeal and replace that could be what is -- >> patients are in trouble i start making a couple points that peter starting to say medicaid 9.5 paris federal dollar. >> 86 mets won welder series

it had was 2.5% enormous burden on taxpayer in doctors office, you know, the idea behind obamacare was let's get everybody into the system, whether they needed health care or not the problem is, that 6.5 million people taking the penalty the tax penalty a lot, 45% of them under 35 years old so it didn't work so that is why premiums are soaring if you go into doctors office, here is what it looks like right now your premiums really high, i come in feeling entitled to something entitlement you are deductible high you can't use the insurance to actually work, so then you are struggling to pay out of pocket for some essentially service that i say you need, and maybe i am referring to you a specialist not participating, or many of hospitals are not participating in obamacare, it is not working. >> peter we never -- we they never dealt with tort reform talked about when original version of obamacare was passed, again what we are discussing is cost control, but you know there was a guest

peter on news channel a couple hours ago said 20% of american men between 25 and 45 are on medicaid frankly, let's say able people that with an work able-bodied he americans medicaid was not meant for that medicaid was meant to be for disabled, for elderly, for extremely poor these people don't come under that, umbrella. >> that seems a major issue. >> absolutely, and that is why every bill that senate came up with went down, because senators from rural states murkowski c murkowski copito don't want health care away from inwill doent men seven million between 25 and 55 working age, are not looking for work, they are sitting at home playing video gales watching espn eating twinkies, eventually will have diabetes. >> my feeling is these people

need to be booted, but senator mcconnell never framed debate. >> those terms he let senator schumer roll out images of people in wheelchairs on crutches you have an in competent leadership i am no fan of mr. trump the way he runs white house compared to way mr. mccanel runs senate ran this debate mr. trump is a genuine ring master at barn um and bailey. >> i heard you trying to step in. >> cheryl going to say medicaid doesn't work for doctors either 31% of physicians don't see new medicaid patients we are paid nothing, entitlement all right that entitlement is expanding all the time. you know, also peters's point "the wall street journal" pointed out with the federal government giving 95% for those in the expanded group up to 138% of the poverty line, that is where the states are scrambling cover those people

take resources away from disabled people, from people who are medicaid legitimate reasons getting less people should be working getting more patient says i can't give up medicaid and take that job. you know that is in my office every single day of the week i like that job can't take it, going to lose medicaid. >> getting so much support in press on this jonathan gruber architect of obamacare -- snookered nation thinking cost control study this week that says, in medicaid counties it is not costing us jobs that people are looking for work more now that they have to this medicaid can you believe that? the "the wall street journal" published the study wrote it up and never reference it had fact that jonathan lied to american people i love what academics can do in places like mit, they are -- dr. siegel's enemy. >> second quarter gdp you are economist we are out of time, peter dr. siegel thank you

very much we appreciate it. >> coming up it was a long night in the senate, their grabbing the coffee this morning, as we look at the latest for health care reform we take a look at world markets after all this a sell-off in technology stock yesterday you are watching fbn:am. ♪ y, i'm the internet! i know a bunch of people who would love that. the internet loves what you're doing... ...so build a better website in under an hour with... ...gocentral from godaddy. type in your idea. select from designs tailored just for you and publish your site with just a few clicks-even from your... ...mobile phone. the internet is waiting start for free today at godaddy.

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. quadruple in kwausht global markets reacting to a few things as you can see start with asian markets nikkei down more than half percent hang seng down more than half a percent seaning only composite to ride kospi down as well. lauren: selling in europe ftse in london down half 1%, the cac in paris down one and a third percent check out dax, that is down three quarters of one percent. cheryl: drugmakers based in europe as i know stocks we are watching when u.s. markets open as well. right now you've got dow s&p, nasdaq pointing to a lower open fractionally we should say that with gdp coming out, obviously, all of this could change, numbers that we're looking at. lauren: we have seen half companies report thus far three quarters beating

expectations, and broader market up four weeks in a row stocks expensive oil not so much at 49 dollars this morning down slightly gold down a buck at 1265. >> currencies fed change on interest rates earlier dollar could have been affected right now you've got a strength in world currencies except peso flat against u.s. dollar. >> as we check out yield on 10 year treasury note at 2.31%, so that is one big market check see how investments are fairing the end of the week in washington certainly biggest weeks of earnings. >> for investors. >> so glad you brought that up with earnings, because you had about a 50% s&p 500 reporting more than 70% beat either on revenue or estimates, so despite what is happening in washington, you've got strength in u.s. companies. >> we haven't had a

legislative win from president trying to get one looking at tax reform aiming for that, yet you have this hope this low fear of the strong corporate america, keeping stock prices high and that is making americans feel richer that certainly helps spending expectations 2.6%. >> on gdp funny you get that number that is what you had gary mnuchin we need % may get close to that that would be a good thing. >> report comes out 3 1/2 hours from now. >> very close, we are close to another big hour for fitbn:am amazon down 4% latest earnings look at what is driving that stock lower. ♪ . >> i believe we will come back honor our promises here is how we will do it the way we get to 50 the way we get a majority, and honor our

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>> i regret that our efforts were simply not enough this time . cheryl: breaking news this morning. republican efforts to dismantle obamacare collapsing in the senate after a skinny version to repeal and replace it fails to get enough republican support. we will have live reports from capitol hill and complete analysis of what is next for health care. lauren: drama at the white house as anthony scaramucci uses let's face it vulgar language to lash out at reince priebus.