it. liz: maybe neil can do it. stuart: five, four, three, give the reason, neil. why are we down? neil: there is no reason. we follow this tick for tick and try to assign some divine development. sometimes it is what it is. stuart: you got it. thank you, neil. neil: but the falling dollar, no doubt greased the skids. like i know. like i know. all right, everybody, welcome, you're watching "coast to coast." i'm neil cavuto. to stuart's point oil out of three-year low in and out of highs. people concerned when it comes to the dollar, be careful what you wish for. it could go too far. treasury secretary steve mnuchin has been saying this is not that damaging. it could help u.s. multinationals. he is right of course when that

revenue abroad is translated back, it is translated into more dollars, but, but, longer term could be a problem with more currencies, digital or otherwise. eventually it may clip us. we're on top of some white house developments. we might hear from the president of the united states. remember he is heading off to davos. so when he does, and outlines some plans, he is formizing a lot of ambassador assignments right now. i don't know whether they give them press passes or what. bottom line, that is what we're waiting on. later on today he will meet with the nation's mayors. he will be a busy guy. of course they're trying to say now that the government is back in business we think get back to business, resolve all this immigration kerfuffle, sooner rather than later. that we'll get into is looking a little bit dicey. meantime, more companies sharing the their riches, their tax cut riches. starbucks latest to say it is going to be sharing wits workers, not only bonuses or

maybe cheap coffee but at the very least continuing a trend now that has benefited 3 1/2 million u.s. workers at likes of disney, verizon, jpmorgan, i could go on and on. the now the budget director mick mulvaney was saying, tax reform is the gift that keeps giving. take a look. apparent with ronald reagan, his tax cuts, both of them, the early '80s, the one in '86, with real reform were ripped by the media, but people saw their paychecks and the sentiment changed. do you expect the same thing to happen with your tax cuts? >> not just that. i mean, look, we didn't even expect the christmas bonuses that went out. we didn't expect minimum wage increases from large employers across the country. that was even more than we expected. we think we underpromised on tax reform and impacts we could have in the economy. neil: that is very important distinction here. as optimistic as the administration and other

republicans were about the tax cuts, whether you're for or against them, of course we said on the very same show were disproportionally advantageous to companies with the belief companies would plow it into the stock, raise dividend, buyback shares, all which they're free to do, because they enjoyed a curse of riches whatever you want to talk about, not only sharply lower rate, one time forgiveness rates to take trillions off abroad, immediate expensing, you don't have to dillydally and wait for, they are sitting on pile of money. some don't know what to do with it. they're sharing the bounty, even in the case of utilities with customers, offering 5% rebates on utility bills. i could to on and on. why should i here. if this is the case, could this be like ronald reagan tax cuts panned in the media generation ago, when people started seeing cuts themselves, and fallout for those cuts themselves, all of sudden things changed. connell mcshane, campus

reform.org media director cabot phillips. love that name. call her liberal commentate? i call her slightly left of center commentator. >> that is fair. neil: danielle mcglock lynn, from brooklyn. the new zealand accent kind of helped. give me your thoughts. i think there are many left of center, whatever, who are a little surprised by these companies and what they're doing. are you? >> yes, i am. i think the point made earlier that the administration is surprised by mick mulvaney is also true. i they have democrats will not be able to attack this in any way with people seeing money in their pockets. it is the economy stupid. neil: more money than we thought would be in their pockets. >> yes, absolutely. best thing we're seeing systemic changes in organization. starbucks, for example, paid parental leave, sick leave, some things on going as one-time

bonus that may or may not show up next year. >> some of the people left of politics are people carrying out, whether jamie dimon at jpmorgan chase. howard schultz is politically involved, former ceo of starbucks, kevin johnson in there right now. but they are looking at this, i think we hit it a number of times, they say we can do everything. there is nothing wrong with buying back your own stock. in fact it is often helpful to the stock market. there is nothing wrong with bringing back money from overseas. we saw what apple did. you can do all of those things and give your employees a raise. what is $100 million to starbucks. they start doing things once all the savings are in. they can afford to do a little bit of everything. we're seeing it day in, day out. neil: to connell's point about companies run by traditional democrats, even goldman sachs ceo lloyd blankfein on the wires today talking about how donald trump has been very good for the economy, whether you like the president, dislike the

president, fan of tax cuts or not, all of these guys are a fan of money, they're making it hand over fist and sharing the wealth. we need to see a lot more companies doing that, even with good number who are, but what do you i can in of all that? >> interesting how the left for years is fighting government to force minimum wage up. all the left are realizing all the to raises to rise elect republican president. allowing government to get out of the way of businesses. neil: some were factored in, 18 states are rolling them n a lot easier to absorb in this environment. >> how the left is pretty quiet on tax reform. for nancy pelosi to say it was arm ma dead done. t was 1000 cut for most people. if the left continues to attack tax reform, they will lose credibility with the midterms coming up. more and more people are sieving positive impact from the legislation.

neil: they are saying, one thing i've noticed, i talked to democratic senator from maryland, truth be told, not as nearly as many americans you think are getting corporate bonuses. there is some truth to that but i think i suspect more will. i think democrats underappreciated this. as did a lot of republicans. how this sorts out by november, is anyone's guess, but what do you think? >> one thing democrats go about are on the deficit. there is huge effects on deficit, time and time beginning polling across, doesn't matter presidential race or dog catcher, americans are not really thinking about he have did -- deficits. are you sure? neil: reporting from a condition nell. >> americans don't really vote on deficit or don't vote on debt. >> by the way we're generating revenues we potentially could from that, you might pay and then some. >> and we may. we may. we will see, right?

a bit of a roll of the dice but we will see. >> politics of this are upside down on economics if you think about it. the other big story today is the comments that mnuchin made overseas in davos, talking about the weak dollar. other story of the week, tariffs, with the president put in place. the president gets hit from "wall street journal" editorial page. can donald trump stand prosperity? these are positions you wouldn't normally expect from republicans. neil: the position which is pretty protectionist on this, could collapse whatever progress. >> that he will get attacked from democrats normally maybe the ones pushing for those types of policies versus now getting praise from democrats for pushing tax reform policies. neil: if you think about it, he is triggering what could be a trade war. chinese were already talking about tit-for-tat response to his slapping this higher tax, tariff, if you will on solar panels. south koreans very angry about going after their washers and

dryers, et cetera, that is the starting point. could the president so stomp out his own good message. >> will this come come to fruition or president trump driving the populist base with all these things. neil: what happens if we get a 50% tariff on washing machine from south korea? that could happen sn,oo right. it doesn't hel consumers. it is not goi toe positive. consumers will be t ones realizing, wait a second it sounds good toay america first comes t making these produs. wait a second i want optio. neil: the president wants you to buy from a u.s. manufacturer, whirlpool. >> i think government mandating that will not be a popular thing for a lot of conservatives how it affects them going to the supermarket. >> most traditional republican message on economics that tariff is tax on consumers. the consumers end up picking it up. to your point about washing machines coming overseas from

samsung or lg, if you're paying 600 bucks for one now, put a tariff on its, for the first million plus that come in, you're paying 700 some odd dollars. then after that -- neil: do you still want that? >> do you still want it when the tariff goes up and you're paying $900. this is supposedly. neil: cabot's view you have doubts that it will materialize the threat will do the job. >> i think this is what the the will see how it play with the base before he pushes anything out there. >> he did push the tariffs. those are happening. the argument is it short term. neil: do we know it is happening? >> i think he signed it yesterday. those start to go no effect but they would be short term. idea you phase it out over time. you would hope and hope to incentivize these other companies, lgs and samsung to make more appliances here which many are already. they wouldn't be subject to the tariffs. try to level the playing field. neil: what do you think? >> i think there bigger problem here. i totally take the point tariffs are passed on consumers.

the president's view of trade and he walked away from tpp, talking about walking away from nafta right, can be problematic for american manufacturers and consumers. justin trudeau is -- neil: i thought democrats didn't care about trade. >> i take that point. hillary clinton they vacillated whether trade deals are good or bad. farmers love the trade deals. manufacturers love the trade deals. they want to have free flow of goods and services in and out of our borders that is the challenging thing i think. neil: it is upside down world, isn't it guys? thank you very much. the other thing upside down, beware promises of a politician. chuck schumer said border wall funding he was keen on, well he is not keen on anymore. a lot of republicans are apoplectic but they have reversed positions. it's a mess. adam shapiro on capitol hill. hey, adam. reporter: that is food way to describe it. fox has video from c-span in

1990 senator schumer was talking about benefits after married-based immigration system. talk about the negotiations on the senate side are in play for some kind of immigration deal that would include a daca deal. in the house, mark meadows and freedom caucus are calling for paul ryan to bring to the floor for a vote the goodlatte bill which is very, very streamlined but very strong stance for immigration rerecall to. here is what president trump tweeted this morning about where we stand in the senate on negotiations. he said, quote, crying chuck schumer fully understands especially after his humiliating defeat that if there is no wall, there is no daca. we must have safety and security together with the a strong military for our great people. schumer on the floor of the senate this morning actually talked about the fact they do believe they can get to a daca deal even though he rescinded his offer for border wall financing. kirstjen nielsen, homeland security secretary, is in davos, switzerland and maria bartiromo

spoke to her about senator schumer changing his position in the negotiation. here is what the secretary said. >> i can't think why he changed his tune. it's a bit confusing to me as well. he voted for the secure fence act in the past as many democrats. it is bipartisan issue. it is a clear need in our country. agreed to it. one of the before pillars for discussion. hopefully we come back to move forward in our discussions. reporter: moving forward will be difficult even if the senate passes something. the version in the house would only give daca people a temporary status here in the united states, renewable every three years. in the senate what they're talking about is some kind of citizenship. so you saw the secretary in davos. they're digging out of 14 inches of snow. in capitol hill they're dig out of 14 inches but it ain't snow. back to you. neil: that is very good. adam shapiro on capitol hill. right around the corner from where he is right now will president of the united states

be next week for the state of the union address. no doubt this will come up. no doubt they will not be a heck of a lot closer for daca immigration deal. president outlining agenda, no doubt mentioning tax cuts and payoff we're getting from a lot of companies, latest from disney. democratic ceos and like we're sharing the wealth. we're not red or blue. we're green. not saying that literally. we'll cover the state of the union address and we in washington for the big event 8:00 through 11, however long it takes. stocks well off the highs from earlier on. did this talk embraced by no less an that the treasury secretary of the united states that we welcome and are pretty fine with the weakening dollar? weaken those gains? after this.

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neil: all right. charlie gasparino and i were just, just now talking about the dollar, the index itself, tracks all the currencies. lowest in a few years. treasury secretary steve mnuchin started all this rolling, a weaker dollar is actually good for the u.s. technically what he is referring to are large multinational companies that benefit from a weaker dollar when that does happen but to structure it as a policy we would recommend, some people say

that might be a leap too far. we'll get a sense where the president stand if he wants to bring this up when he goes to davos tonight. he will be there bright and early tomorrow morning. blake burman is there with the very latest what kind of reaction it is all getting. blake? port pour neil, normally the tradition of treasury secretary to uphold a strong dollar. steve mnuchin said during his confirmmation testimony. on the ground here he said a weaker dollar might not be such a bad thing after all. this is the comment right here, that is gaining all the attention led to the chart you popped up on the screen. mnuchin saying the dollar quote, where it is in the short term is not a concern for us at all. a weaker dollar is good for us as it relates to trade and opportunities. mnuchin also said more actions on trade, speaking of that, are to come and a couple cabinet members also on the ground here in davos as well, kind of

weighed in today, backing up administration's current tough stance on all of this. for example, the commerce secretary, wilbur ross said following today, quote, trade wars are fought every single day. the difference is, u.s. troops are now coming to the ramparts. this is the energy secretary rick perry on set with maria bartiromo earlier this morning. >> this is a president that says look, i get it about competition but you're going to compete fairly and you're going to compete on a level playing field. reporter: pretty large footprint neil in davos, you add up cabinet members, half disease or so, senior administration officials, 12 to 15 members from the trump administration here in switzerland. leaves tomorrow night. handful of bilateral meets. that big speech friday morning we'll hear his economic philosophy and economic policies. as they try to sell a whole host

of issues here including the tax bill. neil: blake burman, from davos. you should be over there. >> i took it out of where i wanted it to be warm i go to milkin. beverly hills. neil: sure poconos. >> women on the beach. versus davos. although i did meet swiss miss one year it is a family show. talk about the dollar thing. we've before conning this way too long. benefits of having weak dollar. >> short term benefits. neil: but it is quite another for a u.s. prominent official to essentially endorse that? >> well we'll see if he carries through the trump administration, particularly on trade on their protectionist, sort of protectionist plank donald trump ran on, so far on trade it has been all talk but very little action. talk about unwinding nafta or

changing vast parts of nafta. they haven't done it. neil: you don't think -- >> i hope they don't. neil: agree. very dangerous. >> one thing could prevent the rally from keeping on is protectionism where we start slapping certain products with tariffs. china starts doing it. it is a trade war. inflation spikes. you have to raise interest rates. that will snuff out the rally. this is how economics work. let's be real clear, what does it mean to have a weaker dollar? it costs less dollars to buy a yen, right? if, it makes our imports, it makes us, we export more, import less, i'm getting a little confused here. but same token when the dollar is cheaper, that prevents other countries from investing in the u.s. right, because they get less of their currency back. that is the problem. neil: if you're a superpower you want to be premier currency.

there aring bragging rights. some in canada, read the canadian press, they're concerned the president might step back from nafta. in mexico they are. in europe, they're looking forward to hear what he says on issues in davos. is retreating or agitating because if he is and is keen on that he could risk undoing everything he is getting from these tax cuts? >> not only the economy, japan wants to invest here. foreign companies come here, they have plants all oaf the place. if you weaken the dollar, when they unwind profits they get less profits because dollar is weaker, you have to convert it into the yen or, what is the chinese currency? the renminbi. i know i -- neil: now all of sudden everything changes. >> it changes. let's see if he carries through. i doubt he will go full bore into this. i just think -- wilbur ross, last thing i read about wilbur, i love, he was falling asleep during meetings.

neil: 81 years old. >> i know. i like him. neil: would fall asleep here -- >> never. you fall asleep. neil: yes i do. all of america. >> all of america. you know what i like? i love it when my twitter patrols say we turned the channel when you come on! neil: apparently they don't. >> i notice ratings they go up. why is that? neil: i don't know. >> why is ralph saying you have to go. neil: a lot of anti-italianism. >> why is ralph wrapping me right now. neil: he has a headset, plugged into nothing. >> he is from staten island. neil: nothing wrong with staten island. >> that is what they say in staten island. neil: there goes the staten island demographic. thank you, my friend. sometimes when people get richer, depend who they are, you know, i don't know but this guy got a lot richer, and i'm saying it couldn't happen to a better guy but i'm telling you -- got 1.5 billion bucks. this guy used live in his car

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♪ neil: all right. it was an eye-popping deal. bacardi buying patron for $4.1 billion. patrons cofounder john paul dejoria. was penniless. living out of his car. ashamed to tell anyone. that was then. now good to see you. >> my pleasure. america still works. neil: was this deal cooked up regardless of the tax thing? >> tax thing had nothing to do with it. doesn't affect us at all because we're privately-held. not at all. it was going on eight months. kept it a secret during that time. a lot of due diligence. neil: you're on the bacardi board, right. >> no, i'm on the board of patron. but bacardi's vice chairman.

neil: on your board. >> he owned a minority portion of patron. neil: what made you let go besides the dollar figure. >> we took it from nothing to one of the largest brand in the world sold, we did what we can do. at this particular point i'm having a blast. all the events we go you. into charity a good way. here is what i thought. a great time to sell. made a bunch money. more important i remain chairman emeritus forever. i get patron for less rest of my life. i show up at major events. it is my baby. i'm very proud of it. lets me go on to do other things, even more important for patron and our legacy. they promised to run the company same way i do, about the environment. no one is being fired. they care about our people. i hope they make it a 10 or 20 billion-dollar company in the future. i have great pride. they are good people.

i thought best people to do it. frees me up a little bit to do other fun things. i'm working on giant project right now. i am a little more in philanthropy. neil: you are still in paul mitchell hair product. >> i'm always in paul mitchell. hairdressers will always be there. they change the world. they are the answer to have a good hair day to most of our world's problems. our students make that sure. so i'm still involved. neil: if they are not having a good hair day they drink your liquor let me get a sense what is happening now. >> sure. neil: all the companies sharing the loot with the tax cut loot and left of center democrats whether at disney or starbucks. >> right. neil: are offering bonuses anywhere 500, 1000, $2500. we're up to almost 4 million americans benefiting. >> it works. best pieces of news i heard from davos, ceo of dow chemical said we're hiring because of this tax deal, thousands of people. we don't have enough people.

they're not qualified. we're going to start a major training program to qualify them. we can't find them in the united states. we're bringing them in. we're importing people in. we need more people. we have major training program going on for thousands of people. that's jobs. neil: what do you think of the president's stance on all of that stuff? >> once again i don't quite agree with the president's demeanor. i have been very vocal on that. neil: you have. >> some of the things he is doing with all due respect work. oh, my gosh! it works. and some good things. neil: are you surprised by the degree to which companies are ponying up the dough? my view on this, john paul, whether you like the tax cuts, i did think they're disproportionately weighted to companies, whether that is your cup of tea or not, that is such a curse of riches how liberals view it, that now they have more money to spend than they know. not your kind of money but a lot more and they are sharing the loot beyond just shareholders. >> they have more money than i have, my god, tons of it but

they are and i talk -- neil: you're one of the richest people on the planet, young man. >> i talk to a lot of corporate heads. neil: do you keep track of that? i had nothing, i was penniless, i am now elite group of billionaires? >> no, sir. i was very happy when i was able to start a company an feed myself and put gas? my car and not lose sleepless nights not being able to pay the bills. so i went over that a long time ago. i appreciate what is happening now. there are more wonderful things i can do with it. neil: but your instincts didn't change. when you're down and out, kicked out of your place, someone else's car, had to put water in every four hours. >> yep. neil: my only thought was survival. >> that is correct, sir. neil: not changed the way you think. >> not at all. that is the first thought how do you get away. now i do it in bigger scale, in austin texas, where i live, we have mobile loafs and fishes. we built homes for 250 people live under bridges. this is the permanent home. no drinking no drugs, no fighting.

gardens to work in, give them their own dignity now. neil: you're warren buffett, bill and melinda gates route, give it all away? >> not giving away. investing in the future. neil: leaving any for your family? >> of course. i'm leaving plenty foy my family, but while i'm alive -- neil: were they okay, sat down here is what you are going to do. >> my daughter said it best, we have great jobs now. what is it like to be daughter of a billionaire. that is wonderful. my dad is the same guy. by the way it is his money, not ours. we're building our little fortunes. neil: not billion dollar fortunes? >> no. but they may. you can never can tell, my kids, all four of them, do things to make the world a better place to live. i'm a pretty proud pop. neil: you should be. you are the real deal. you give back a good deal. i wonder joking with you, not entirely joking, billionaires get a bad rap for being selfish, greedy mowing gus, they don't share the loot, your story could

tell them. >> they have to know it! neil: but conversely there are a lot of poor people, far, far from billionaires who have that cynical view, but what do you say? >> i say to them, go online to get it, good fortune, the movie. story of homeless, being fired, everything coming. i've been in frivolous law cases before. they say what is billionaire john paul. why is that. because you're discourage people, don't go in his favor, he is billionaire. no. american dream is to be able to your life own a house, be homeless, being a millionaire one day, american dream, people forget that. so i was homeless and i did it and other people can do it too around the world. you have to believe in yourself around make the finest thing out there and -- neil: you're a very good person. it will assume i'm doing a commercial for you, but my rap against this president, i think he is brilliant businessman, great economic sense, what to do, he stomps on his own message and not good with his own

people. i will hear from the people saying you're a never-trumper, i always try to be a good human being. always try to be a good human being. i think a lot of times his demeanor and tone, sense of loyalty to his own people comes back to bite his heiny. >> we'll help change that i have someone delivering to him, the good fortune, the documentary. hand delivering to the president. just take hour 1/2 out of your life, donald, you're great what you do, still be great, donald, but just watch this, donald. neil: do you think he will? >> they said he will watch it. because he will understand who it came from and meaning behind it. neil: have you met him, talked to him. >> i met him. ran across him is a couple times in the last five years. chatted with him just a little bit. not really -- neil: does he have something, when he says the media really does hate me? >> well, donald, it is what you say. neil: doesn't help. >> perhaps, people sometimes are offended by something somebody says that puts somebody else

down. it is old good rule. if you can't say something good, don't say it. keep your values, mr. president. keep your values. keep what you want to do, you don't have to put other people down to do it. neil: brief as it was, a lot of people got very stubborn in their positions. you have done some different business. >> oh, yeah. neil: how do you handle that sort of thing? more to the point, you got a deal wasn't going your way or transactions didn't go your way, customer didn't go your way, rare in your career i'm sure it happened, how do you right things after that, ill will, tension? that is where he are on capitol hill. >> it should have been done before, could still be done, get everybody in the room, with a great hairstyle. neil: see you there with paul mitchell product. >> have a shot of patron tequila. neil: president doesn't drink. >> that is okay. he could have orange juice, orange juice very good for you. talk about what can we do for we the people. go back to independence.

it is we the people of united states of america, guys leave politics aside. leave the next election aside which most politicians think about, let's talk about we the people. there is no cameras. let's be on the ground level. don't be so stuck up you have to stick by your party. how about sticking by yourself for a change? let's talk about we the people. neil: when you're in a group of people who don't know who you are or someone who, i know you run into social situations someone would argue with you and all, the temptation has been do you know who this guy is, referring to you, and you never say anything, you never say a word. >> no. because i'm just me. we're no different. i had a few extra breaks in my life. we're all good human beings. spirits in a great body with great places to go. i have my ups and downs, my disappointments, my loves lost, my loves gained so many things happen in life. we're all the same. whether you're homeless or succeeded financial ally in any other area we're all the same, we have to remember that

everything we do, everything that happens to everybody else on that planet affects us one way or the other, no matter how you look at it, it goes down the line there. if we help everybody out, everybody has a great way of life. we all have the chance to do the same thing. we do. neil: you're getting a tax cut, right? >> i -- neil: will you be affected. >> on this i won't be because of capital gains. neil: not just this deal but general rich guys, the rap is you disproportionately benefit because of your wealth. >> two mers of my level. you lose a lot of writeoffs which is just fine. when you're on this level you make enough for me, that extra tax cut going into charity, helps somebody out that needs something a little better. i'm inundated with stuff. i do so much stuff i can honestly say, guys i'm doing this stuff now but most of the money putting away a year. already earmarked where it is going to go. neil: real quickly, my producers are probably going crazy, there group of billionaires or

successful money types who you don't like, or that you don't feel share those kind of values? >> yes there are a few of them. but -- neil: want to share any names? >> no with all due respect, there are so many more that really care and really irshare bringing the world along. they have to know that the giving pledge is great example. i would say giving pledge maybe one or two people want to be a member, very wealthy -- neil: giving pledge, give it away. >> but the majority of them are doing it right now! these are about, the gates, buffetts, go on and on with the great people. people just don't know about it. they have to know about what we're doing. we the people, we all know that, we're all giving back now. we are making a big change. no disrespect to our government but we are making a big change in business for all the good fortune we receive. we're sharinging. neil: you are. more common than it is not common. john paul dejoria, when i heard he got even richer on this deal,

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neil: new york city mayor bill de blasio will not be meeting with the president at the white house, some two dozen mayors across the country slated to meet with the president. he is citing this departments of justice threat to subpoena 23 jurisdiction cities to offer sanctuary policies to protect illegals within their midst and will on the home front. congressman lee zeldin, what do you make of that? >> mayor would be certainly better advised representing his city to go down to the white house. he could have his political disagreements with president trump. we have important laws that are on the books. it is actually in the interests of protecting our country that we want to have consistency

across our country. we want state and local governments working with the federal government like we do with homeland security and counterintelligence with all those homeland security concerns, that also applies to people who enter our country improperly and might have competing vision how to move forward. might be better to talk about as opposed to boycotting. neil: what he is saying in his tweet, congressman, the department of justice decided to renew racist assault on immigration communities. doesn't make us safer and violates america's core values. upping ante, a number about cities are, states like california effectively become sanctuary states, states like new jersey considering it. where is all in going? >> i think it's a desire on the state and local democrats looking to 2020, looking for path of viability, getting the democratic nomination being able to run fence the president.

meantime there is a time for government and a time for politics. right now this is a time for governing. the policies need to understand, reality after the love threats we face, not all, a lot of threats within our own borders are threats posed by people not in our country legally. it is every level of government working together. it is government working together, different law enforcement agencies working together. not calling each other names. if it happens we have specific threat at moment of time, looking for 25-year-old middle east male one day, that is not a racist policy. there might be intelligence that is what we're looking for. we can't call our names to do our jobs what in washington is our first and foremost, only constitutional duty which is to protect our national security. neil: congressman, i do want to jump to what is happening now. these fbi messages, the peter strzok exchanges, where

thousands of their email messages, we don't know the exact number, disappeared over a crucial period looking into this whole russian link potential or whatever, into the election, what have you, what do you make of that, they just up and disappear? >> i think it is unbelievable that the texts would actually be lost. i don't believe it. i also think that it is impossible that those texts wouldn't have really important information that should be known, whether it is, further effort with the cell carriers, forensic exam of the phones themselves. maybe they are in the possession of the inspector general. the memo that was sent to congress was a bizarrely-worded memo. it was this trying to make sense what they were trying to communicate to congress but we can't just, anyone shouldn't brief these texts are actually lost. i believe they could be obtained and they will have important

information and as we connect more and more dots the way the clinton probe ended and the way the trump russian probe began we'll need this information because we clearly have, a deputy head of counterintelligence at the fbi with his mistress, another married person who was connected to the fbi, connected to the mueller investigation, and with all the pieces regarding -- you could go back to a meeting on the tarmac between lynch and comey. comey unilaterally vindicating, exonerating hillary clinton of the way that you had grossly negligent changed to extremely careless, now there's a probe into apparently this secret society. i look forward to learning more about that. all this information that is coming out, that doesn't even include by the way the classified information i can't get into on air. as more dots are connected, it seems like that is really where the crime and misconduct may have been committed instead of what they're looking into under trump russia. neil: congressman, thank you

very much. also on the breaking news, we appreciate it sir. >> thank you. neil, want to bring your attention to the dow talks and dollar, talk of treasury secretary steve mnuchin talking it down, has no problem with the dollar getting lower, but at three-year low. something is going on with technology stocks here, i don't know what. they were leading the selloff as they were leaning the run-up. we'll have more after this. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com

neil: we talk about something going on in technology stocks. but before that, google trying to sort of make sure it has its bases covered and influence intact certainly in washington spends more than any other company i guess when doing just that deirdre bolton follows that closely. what do they do? >> they spent $18 million for google. that is a record. google is not alone, all these tech companies together, apple, amazon, facebook, google, together spent $50 million last year. neil: what do they want? >> they take congressman out to lunch, out to dinner. they have a point of view that suits their business. if i were a lobbiest, i would invite you out as congressman. we would have lunch. i would present my company as point of view. maybe why you should loosen the

regulation a little bit. maybe why you should look at this issue or that issue. because at the end of the day because it will help my bottom line. all these companies see it as spending money on the congressman, wining an dining building relationships. neil: a the lo of them rounding error on a rounding error. >> the change we see now, most of the time these were defense companies. these are interest additional sectors. the big money coming from tech, shouldn't surprise, a, these companies are growing like gangbusters. b, they are in more parts of our lives. we have to look at amazon purchase of whole foods. now you have a tech company, owning a grocery store or grocery chain. just points out how ubiquitous how tech companies are in our lives. they have the money and certainly are spending it. google in particular, immigration, tax reform, antitrust, online advertising, these are just some of the topics when they are taking people out to lunch this is what they're talking about, they're

getting their point across. neil: you want to be in the table. >> yes you do. >> deirdre, thank you very much. we're barely budging on the dow right now. could you say it is the dollar. could you say it is technology stocks. you could say a lot of things and never be wrong because guesses never fail. we'll have more after this, the dow in and out of 26,260. ♪ :

. neil: all right, it's the gift that keeps on giving and the president certainly likes, it touting tremendous investments. the latest of which we're hearing from tax recipients like starbucks, hoping to increase wages and perks for 150,000 workers. grants of $500 to $2,000 for everyone from employees of a certain date and time with the company and managers. then you have the same going on at disney, promising bonuses to 125,000 employees. royal caribbean hoping to do the same. jpmorgan, all companies by left-leaning ceos, not that that should make a difference, but it is what it is. but again, jpmorgan is a $20 billion investment over the next few years, that the tax cuts according to jamie dimon could amount to 4% growth as soon as this year. so for the president, a little bit of bragging rights he will

no doubt bring to davos and remind counterparts, share the loot and do more of that in your countries, lee carter, and rachel bade. what do you make of that argument and especially these companies doing this? >> yeah, republicans are absolutely very heartened by what they're seeing in terms of companying growing wages, increasing benefits. this is going to be a big pillar for their midterm election campaigns. republicans came out of camp david a couple of weeks ago, the president, speaker paul ryan, majority leader mitch mcconnell deciding tax reform was a big part of 2018 in term of messaging. off of the starbucks news, for example, speaker ryan has a press release out. majority whip steve scalise is talking about it, the president is talking about it. if they can message this, they could potentially save majorities in congress. now the midterms, of course, are a very long way away, a lot can happen between now and

then, but there is evidence this is helping them, tax reform proposal they passed in december is increasing in popularity, we've seen. there was a politico poll just a couple of weeks ago that showed that as i look down for a minute, the popularity went from 42% agree and 39% disagree that it was a good bill, to 45% and 34%. so republicans are getting a boost. neil: interesting. we know, lee, that's the history of tax cuts. under whom they start. that there's some anxiety ahead of them or mainstream media criticism, and then people see them or hear about them or feel good when they get the type of news you're getting from these companies. what do you think how that factors into the midterms? >> i think it's going play a big role. if you interview or poll the american people right now. 7 in 10 are optimistic about the economy and financial future. that's a long way away from where we were a couple years ago. it's absolutely astonishing, when you look at over $250

million in bonuses paid out. 2.3 billion total by all american companies. 250 million by starbucks alone. you're looking at big increases, people haven't filed taxes and seen different money in their pocket. so at the same time, people are optimistic, and then you look at what the democrats are messaging and what is nancy pelosi saying criticizing the tax bill. she's saying this is crumbs. the democrats are out of touch with the american people right now. they need to empathize and understand what's most important to them. when the pocketbook speaks and the democrats belittle the american people and talk down to them, it's going to hurt them in 2018. there's a long way to go until the midterms come, anything and everything can happen as we've seen, but i think the republicans have an edge because of the optimism that people are feeling financially. neil: we'll see, rachel, one thing that could do this is the

president's tough trade stance, might be welcomed by americans feeling gouged by cheaper solar panels dumped on the part of the chinese or cheaper washers dumped on the part of the south koreans but could escalate. a trade war could happen and if you read the canadian press talking about the president mixing nafta, i don't know how far this goes, if they're worried about it, it's going far enough. what do you think? >> republicans have requested to sit down and speak with the president specifically about trade. there are conservatives on the hill worried that these tariffs, this might be the first of a trend in terms of putting tariffs on other countries. totally blowing up nafta, and basically republicans are worried that the cost of this is going to be passed onto the consumer. yes, maybe manufacturers are going to benefit, in fact, there were a lot of american manufacturers who are going to benefit. but do the companies pass this onto the cost of americans?

they add it onto the price of the products and republicans are worried that americans are going to see increase prices on various products and could blame them because of a trade war. i think right now that's why you are seeing them talk more about tax reform. they definitely feel more comfortable about that. on the midterms, i want to say one more thing about this, basically historically, democrats have the wind at their backs right now. neil: right. >> that is because a president typically in his first midterm election loses two dozen house seats. if that happens, right now or this coming fall, that means republicans in the house will lose their majority. neil: it would take two dozen to do that. lee, i could see republicans losing some seats in the house. i don't think it will be the two dozen though, maybe because of this, or maybe because of developments we have yet to see. what's your own forecast for the end of the year? >> i think republicans are going lose seats. you know nine seats are up in california alone. california is likely going to

lean towards the democrats. on the other hand, the republicans are really now the party of the hard-working classes of america, and that's something totally different than before. so anything can happen. i don't think that -- i think that a lot of people are overly confident that the democrats are going to take things back, but the democrats are the party that's right. the problem is the democrats are the party that is judging most americans saying we can save you from yourself. republicans are saying we can give you the tools to empower yourself. if you were in that position, which message resonates more strongly with you? the democrats have to get act together and show they have empathy for the american people and programs help them more than the republicans are, especially because the republicans's plans are putting money into the pocketbooks of hard-working americans right now. neil: that's the argument they're making and democrats are not making, i'm not saying it's tilted to the rich or that. may the better party or pr win.

ladies, thank you both, very much. we told you mayor bill de blasio of new york is not going to the mayor's meeting at the white house with the president later on today. he cited this justice department crackdown on so-called sanctuary cities which new york is probably the most prominent in the country. but we are getting reaction now from the white house deputy press secretary lindsay walters saying -- i won't read it all. we are disappointed that a number of mayors have chosen to make a political stunt instead of participating in important discussion with the president. president trump is committed to tackling the challenges facing this country, looking forward to visiting with a large bipartisan group of mayors that represent both rural and urban municipalities. cheaply among those not attending, mayor bill de blasio. senator jerry moran joins us from the senate appropriations committee member. much to talk to you about, but your reaction to this. a number of city mayors are

saying this expanded crackdown on the part of the department of justice to go after sanctuary cities is one more reason not to go. what do you think? >> well, i don't think it's a reason not to go, and i think sanctuary cities need to comply with the laws of the united states. there can't be havens which the law is not enforced, which certain cities take different approaches to enforcement, and you know, one of the problems as we discovered in immigration is once an individual is picked up, someone here illegally, they are not deported, they're not required to leave the country in sufficient numbers, so the sanctuary cities play into that circumstance. we've had a lot of conversation about the borders, and about a border wall, but in reality, many people come here illegally, overstay their visas and find a haven which the law is not enforced, stay in the united states, and so there's another aspect of this. but as far as sitting down with the president, this is a country which we can have disagreements. we can be on all sides of the

political spectrum, but nothing bad can come from having a conversation, and we need to work together, not pull ourselves apart. neil: this is an interesting weak to test that theme, as you know, senator, since this does indirectly relate to immigration reform, daca extension and chuck schumer has taken back that commitment to look into or open to looking into funding for a wall, for example. now no. so where is this going? >> well, i think that we end up with the very basics in a daca fix, and that involves something similar to what the current law is providing certainty, current regulations were providing certainty, who are here and in return or in addition to that, border security so we don't have more of these circumstances in the future, and i don't think that senator schumer, the democratic leader, can take that off the table, he can say that, but

certainly border security is going to be a component of any agreement that addresses or solves the issue with daca. neil: all right, thank you very much. by the way, in a couple of weeks, could we be looking at another shutdown? what do you think? >> i don't think so. we have a lot of work to do, and those conversations certainly are taking place, government is operating, and i think there's certainly a lesson that has been learned, republicans discovered this i think in the times of the affordable care act, obamacare. democrats discovered it in the last week. financial budget appropriations issues need to be resolved among themselves and extraneous matters that are tried to which you use leverage, government shutdown is leverage, just don't work with the american people. >> senator, thank you, very, very much. good seeing you. >> you're welcome. neil: you are wondering why the dow has set up selling. talk about the dollar, i notice in the likes of intel and apple and google and going outside the dow, the high-tech names

are taking it on the chin. of course, they do a lot of business abroad. it could be a factor, they run up so far, so fast. obviously giveback is in order. it has accelerated the dow down 70 point. the nasdaq well off levels. dominated in the tech names. stay with us, you are watching "coast-to-coast," you are watching fbn. achoo! (snap) achoo! (snap) achoo! achoo! (snap) (snap) achoo! achoo! feel a cold coming on? zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45%. shorten your cold

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. neil: all right, a quick peek here, down about 55 points on the dow. the nasdaq looking at intra-day high literally more than an hour and a half ago, reversing. technology names dominated. i continue does seem to be across-the-board analogy of sell-off influencing dow and other players including ibm and cisco. apple, microsoft, intuit. facebook, qualcomm. who's who of tech clan. these are the same issues running up far and fast. you could assign a lot of this to the dollar and a lot of the companies do a lot abroad. thinking is would they be hurt by declining dollar, just the opposite. the stuff they take into this country could be affected as a result of that, too. but be that as it may, this sell-off in the group that has been the leader in and out of

this, you know, you think about it. nine year long bull market. if you had to put a single group that kind of led the charge throughout, it would be the technology group and certainly over the last year or so over the trump presidency. we've got scott martin. john layfield, scott what's going on here? >> this is one of the fearsome areas that the market is looking at with respect to the tariff talk that is back on the table. the market had the similar reaction when the border adjustment tax was in play and looks like the market is starting to extrapolate this beyond the solar panels beyond the washing machines, full disclosure, we own a samsung washing machine, thank goodness we bought it in 2017, great product. extrapolating between the international components subject to tariff or tariff war with other countries. so to me it's the market overreacting to what i think

president trump is saying is maybe the big talk, small stick with regard how he's progressing with this thing. i don't think it's much to worry about long term. neil: i don't want to assign more to this than worth the attention. looking at the 75-point sell-off or so right now. it is all the more noteworthy given we are up 150 points. carol, your thoughts on this and the dollar thing that got talked about today when we've seen to embrace or the secretary of treasury steve mnuchin said a weak dollar policy. what do you think of that? >> i think we've forgotten that volatility is a norm in the market. this is something we should be seeing. i actually applaud the fact we're starting to see a little volatility. so i certainly don't think it is anything to panic about. but i do echo some of scott's comments and concerns that this talk about america first. we have to make sure whether it's trump or mnuchin or cohen or whoever is creating the

policy is focused on incentives and not disincentives. we have seen obviously great reaction for the corporate tax cuts and the repatriation, but when you start getting into taxes and penalties, it doesn't work. we saw that under bush with steel. saw it under obama with tiring, that cost a lot of jobs and had a negative impact on the economy. so hopefully that talk will turn around because it's certainly not a good thing for the market or for the economy. neil: a trade war would not be a good thing, john layfield especially if this thing with china and south korea escalates, the canadian press, the mexican press, they seem to be fearing that, are you? >> i agree with scott. the scariest thing with president trump on the campaign trail which we were hoping was rhetoric is the adjustment tax dropped to pay for the wall. talks to dropping out of nafta, the tpp, which we did and other

tariffs in place. and we're start willing to see the tariffs in place and the escalation is the worries. it's not that big of worry for the solar industry, it's going to cost jobs, large scale solar installations, only 3% total home installation because 95% of the panels are taken overseas but 30% of the costs are from panels but a slippery slope. it was on 20,000 products in the 30s. no comparison right now but the slippery slope is what people worry about. neil: people say that triggered the depression. scott martin, there are types in these type of moments people either run with it and escalate the selling or there's a pavlovian response to dive in and buy the dip. what do you tell your clients? >> we're the pavlovian experience, i guess, neil. we're diving in, and carol's right. it's funny, you guys forget, people probably don't notice or

forgot how easy of a ride 2017 was. there was eight days in 2017 where the s&p 500 moved up or down 1%. can you believe that? in typical markets that's in the 30s or 40s as far as number of days. carol is right. volatility is definitely back in the markets in 2018, that's good for those that have held cash because if you have cash sitting on the sidelines, you have to hold your nose and dive in when the markets drop. neil: carol the underpinnings, the market is bullish, what companies are doing, still very bullish. lot of bonuses going around, a lot of stock gifts and grants to workers going around. you have someone like goldman sachs ceo lloyd blankfein crediting the president for this improvement in the economy, his counterpart morgan stanley jamie dimon talking about 4% economic pop this year. what do you think? >> yeah, i'm a contrarian, i'm uncomfortable when i don't have

anything bad to say or any sort of concerns. so this is one of those times when i'm oo another than the tariff talk shaking mid had. we have an unusual situation great across the board where we have growth, we have growth not just in the u.s. but on a global basis. we have low inflation, we have low interest rates. even if the fed does three or four raises, we're not at a level where it should impact markets or the economy. we're in a really good position, and the only thing that i don't like about it, i can't figure out what i don't like about it. neil: interesting, john, layfield, i want to get your thoughts on jean paul was talking become the billionaire, saying in this environment, he welcomes companies sharing the loot from the tax cuts. react to this. what do you think of the president's stance on all that stuff? >> well, you know, once again i don't quite agree with the president's demeanor, and i've

been very vocal on that. neil: yeah, have you. >> some of the things he's doing with, all due respect, work! my gosh. it works. and some good things. neil: all right, talking about the personal style of the president versus his economic policies, doesn't think he always says the right things but seems to be saying he's doing the right things. what do you make of that? >> he is. the companies are doing the right thing as well. who cares if it's a marketing ploy or not. they're doing the right things for employees. the employees getting thousand dollar bonuses. this is significant money for the employees. i don't think the tax cuts fully factored into earnings estimates. it's projected banks going up 20%. we don't know that yet, analysts have not come out with that yet, banks are up 10%. we should see a leg up from the earnings estimates and companies doing a right thing which is a positive. there's negative and polarizing things about the president, this is something that is good and very good of the companies.

neil: you know, a lot of things that could affect the markets going forward. black swan developments, unexpected developments. talked about trade. if it gets to be a trade war, i think that's unlikely. but that just the moment at which gravity would have to take hold and obviously 5% correction which will be deemed healthy is in order. what would bring that on? i mean outside developments is one thing, just sheer, you know, gravity is probably another. what is it for you? >> it's time, neil. you know, and it's time from the standpoint of the market has been going along on this very nice quiet peaceful walk as i mentioned, how low volatility has been, as carol said earlier in the last 12 to 18 months, time is running out with respect to that market cycle. to your point, it doesn't mean that the market needs to have a down year, it just means that you have a few more bumps and bruises and ups and downs this year. if you're sitting at home being

like what does it mean for me. you need to check asset allocation, you need to have things in the portfolio that may act contrary to uproaring bull market so that if you do have the volatile days like we're having today and maybe tomorrow, next week and so forth, you have things that will soften the blows of a down day that has been largely upward sloping market. neil: guys, thank you all very, very much. following other news developments beside the market. i do not want to overstate the market, it looks more impressive, the sell-off from where we were, the 150-point gain. i thought in context. want to pass along this meeting of mayors the president is planning on. more and more are not looking like they're showing up and not just bill de blasio over this crackdown on sanctuary cities. now the man who runs the u.s. conference of mayors, president mitch landrieu saying much of same, he's not showing up, now in this day is not a good time to be showing up in the middle of all of that. we'll have more after this.

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. neil: all right, it might be the big show that no one shows up for. two key mayor, including one who runs this whole group that's planning to meet with the president today, saying they're not going to meet there. neither is bill de blasio in new york over the justice department's recent decision to crack down on sanctuary cities. i need to get a legal sense what's at stake and fortunately judge andrew napolitano is here to help me with that. they're not going to this event because of this move. is what justice is doing an illegal move? >> it's always better to talk than have a confrontation in the streets or the courtroom. disappointed that the mayor of los angeles, san francisco, new york is not going. but they make their own choices. neil: and the meeting is still scheduled? >> correct, correct. what the president is attempting to do is to talk local authorities into

cooperating with i.c.e. where are the immigrants? you guys that are undocumented. you guys know the neighbor thes better than we do. so under the law, can the feds compel local police and local government to help them enforce federal law? the answer is clearly no. they can't stop or interfere with federal enforcement but cannot be commandeered which is the supreme court's expression for taking away from other jobs and put in the service of the feds. can't do it. neil: all right, if you can help me with the difference here. >> okay. neil: i'm at i.c.e. and i'm going into track down a criminal i suspect is being hidden within new york city. how far can i go? >> so you say to local authorities. >> and illegal, i should point out. >> you say to local authorities, help us, they can refuse. you say to local authorities where is he? they don't have to answer. if local authorities harbor

him, technical phrase meaning hide him and keep him away from the feds, that would be a felony on the part of a local authority. so they have to be careful how far they go. they can't be forced to cooperate. they can't be forced to spend money or resources, they can't be forced to answer questions, but they also can't actively frustrate what the feds are doing. that would be obstructing a federal government function, and anybody that does that, even under color of authority could be prosecuted. neil: could you have aid and is it legal to withhold aid to your city or state? >> only under the following circumstance: if at the time the aid was offered. mayor de blasio, there is $100 million for new police cars or computers in public school classrooms, but as a condition of the 100 million, you agree that your government will help i.c.e. and he accepts the money? he has a contract and he's

required to help i.c.e. he'll accept the money because the states and locals are so cash strapped, they never reject the money, but without that string attached, there is no way to force them to comply, and the money spent on the last year of the obama administration, which did not attach the thou shalt help i.c.e. string. neil: you can lie about help, right? you can say they got the money. you had a good analogy in the break here. they're over there and they're over there. >> that would be obstruction of justice, if you send i.c.e. on a wild goose chase. neil: you could come back and say i didn't know. >> it's a question who would judge or jury believes. the act of frustration of federal law enforcement is itself a crime. the passive looking the other way to federal law enforcement is not a crime. neil: you don't mind me switching gears a little bit.

wants to talk to the president, already talked to bob mueller. where is all this going. >> the special counsel bob mueller is probably looking at obstruction of justice. here's an example: jim comey, lay off of mike flynn because the fbi has more issues of bank robbers and mobsters and terrorists and your resources are spread thin. perfectly within the president's authority. hey, jim comey, lay off of mike flynn i'm worried about what he might tell me about me and my son-in-law? that would be interference with prosecution for corrupt person. neil: he wouldn't say, that would he? >> he might not say it but think it and say it to somebody else. president can direct the director of the fbi. if the public is corrupt, the president's behavior is arguably, arguably obstruction of justice.

>> you are also a very good lawyer, if you were advising the president of the united states and your legal team is told mueller wants to talk to you, sir, what would you say? >> run from it. it's an extremely dangerous environment. there's an old one-liner that criminal defense lawyers use, don't talk to a guy that owns a grand jury, he owns the grand jury, he controls the grand jury. he's not there to be mr. nice guy. he's there to see if he can trick, trap or stump the president. the president is a smart guy and has high opinion of his ability to deal with others. he sometimes uses more words than necessary, trying to be diplomatic here. that would be grist for bob mueller's mill. he couldn't possibly know, the president couldn't possibly know as much about the case as mueller, his prosecutors and his fbi agents do, and he may stumble into area where he contradicts himself, contradicts others and they could charge him with lying.

remember he's not under oath. he's not before a grand jury, but a simple lie told in that environment like mike flynn, general flynn and gorge papadopoulos can result in lying to federal authorities in official investigation. neil: we've had 15 authorities, maybe more that are talked to, do you get a since this could be wrapping up or no? >> i don't, i don't think it's wrapping up. the president's lawyers told him in the summer it's over by thanksgiving, it's now january. i think it's going to continue to go on and some of the things that the house intelligence committee has unearthed about this will likely extend it as well. i don't think the president will shorten it. now i know his personality. i know he is determined to talk to bob mueller. thinks he can talk mueller into focuseg efforts elsewhere. don't think that way. it's a very dangerous environment. stay away from it. that would be my advice and probably the advice of a majority of lawyers. some would say you have nothing to hide, go there, you made

promises that you're going to go to the public, go there, i mean talk to bob mueller, stick with those promises, but i think it's too fraught with danger for him to go there. neil: words from a very smart man. >> see what happens. neil: fewer than 5% of the applicants? [laughter] >> in that group, fewer than 5% make it big in life. he did. i'm just telling you. it was 5% worth of people who didn't get it. [ laughter ] >> more after this. >> my mother is loving it. neil: exactly. building a website in under an hour is easy with gocentral...

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neil: we always do, this we always are late why. is that? >> never tire of the analogy between teenage triplets and congress. the same mentality on a lot of things. what this is exposing, the appropriations, the spending process is broken. that's boring to folks but really is what's driving all of this and why we go from precipice to precipice, the senate cannot pass an appropriations bill. a single bill. they're supposed to pass 12 every single year. if they don't want to change the 60 vote rule, defining a lot of that. they can make the senators talk a filibuster. neil: but we're going to be late on this again, might come up on the white house briefing. omb director mick mulvaney telling me it's the process that is delayed, cobbled together to get you to something the next day, that it hurts, the budget is in doubt and spending is in doubt, what do you think about it? what he is saying is the way we

go about this is what's so silly. both parties. you say what? >> he's right. the practices that govern the spending policy and practices in congress really haven't sent law passed in 1974. 44 years of budget policy and congress trying pass the bills and clearly hasn't worked. since that bill was passed. congress completed its job on the spending bills only four times in that time. clearly something that's wrong here. the 1974 budget act invested a lot of power in the budget itself, and a lot has changed since then, mostly because the budget itself doesn't get done on time, if it gets done at all. we saw this when senate democrats controlled the budget committee. they didn't bother writing a budget, no surprise the appropriations process didn't get done. the budget committees are supposed to write budgets, those pass through congress and the appropriations committees pass 12 different appropriations bills.

house has a better track record of doing this than the senate. of course it started last september. neil: it is ridiculous too, to your point, i know it's a convoluted process, but we demand it of publicly traded companies, demand it of companies that get taxpayers funds, we demanded a far smaller enterprise. this is the united states government we're talking about, that you have obligation of folks paying the bills to give a round about idea where the money is going? >> absolutely. it's a massive undertaking, one trillion here, two trillion there, couple trillion dollars and you're talking real money. we need practices that increase accountability. there are a number of budget and spending reforms proposed in the house and the spending budget committees. today in the senate budget committee, there was a hearing with the cbo director keith hall, the third such meeting since chairman enzi took over the panel. there had been a hearing with

the cbo for about 30 years, we've got a lot of work to do when it comes to increasing accountability where the numbers and money are going. we need members of congress if they're going to be able to get spending under control to have a clear picture what the spending even is. neil: to your point, anything last minute, you learn that from college or before, usually pay dearly for it. so whatever. of course, you were a great student. >> i was a+ student would and like all members of congress to be one as well. neil: i had a feeling. mattie dupler, senior fellow, all-around smarty pants. awaiting a white house briefing, awaiting reaction to a couple of big mayors saying we don't want to be part of the u.s. conference of mayors gathering because we don't like what the justice department did to crack down on sanctuary cities like ours. after this.

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(roaring of truck) yes and it was like the worst experience of my life. seven lanes of traffic and i was in the second lane. when i get into my car, i want to know that it's going to get me from point a to point b. well, then i have some good news. chevy is the only brand to receive j.d. power dependability awards for cars, trucks and suvs two years in a row. woman: wait! (laughing) i definitely feel like i'm in a dependable vehicle right now. woman 2: i want a chevy now. woman 3: i know!

. reporter: welcome back to cavuto "coast-to-coast," i'm nicole petallides live from the new york stock exchange. a look at general electric. this is one name weighing on the dow jones industrial average, down about 2.6% at 16.45. down about 45 and this year 2017 under pressure, down about

3%. this week trying to hold onto a gain. came out with quarterly numbers, revenue and operating profit plunged year over year. company has been restructuring and in addition to that noted that the u.s. securities regulators are probing massive insurance charge that was recently taken by the company which reported a $10 billion loss in the latest quarter. then moving onto tech companies. a different story here. you're seeing the names, facebook, amazon, netflix, google, microsoft, i see facebook and amazon turn into the red but all of which have had a great run in 017 continue to do so in 2018 all hit all-time highs today. different picture for technology from general electric which over the last couple of years has been losing ground. neil? neil: nicole, thank you very much, nicole petallides with the dow barely budging, up 11 point. starbucks, in case you are keeping track of this thing as

we wait for white house briefing. we're going to share the loot, some of the tax cut loot, perks for 150,000 workers and not just talking discount coffee cards, up to $2,000 for employees, managers, that sort of thing. charlie gasparino on the trend picking up steam here, that is the one thing that the administration wants to keep reminding folks about. >> it's a shame they have to keep reminding the media this. listen, i'm no trumpkin. you and i have pointed out his problems, particularly temperament problems. his economic policies are pretty damn good, and not all of them, but a lot of them are, and that's -- neil: a lot of companies led by left-leaning ceos. >> tim cook at apple, no conservative. neil: you know jamie dimon? >> jamie is moderate, it depends on the topic.

no fan of obama. he thought obama's regulatory onslaught on banks was misguided and hurt the economy. neil: now he's saying the economy could grow to 4% next year. >> jamie understands simple notion. this is a no bull -- >> you didn't say what i thought, did you? >> a no b.s. guy. he is saying president obama, president trump who i did not vote for, which he probably didn't. i wasn't in the voting booth with him. he's run a pretty good economy, laid off the regulations on businesses, we can now lend more to small businesses which will improve the economy. he's cut our taxes which means we can hire our people. neil: most of the run-up was prethe tax cut thing. neil: he believes once these

things take hold there is corporate earnings are going to go up. >> here's the fly in the ointment which i tell people to be careful, trump is talking protectionism, wilbur ross is in davos when he's not falling asleep, he's talking about trade wars. that is something -- >> the charge is that wilbur ross, the commerce secretary falls asleep at cabinet meetings. >> that is something that could really hurt the economy. neil: falling asleep? >> that, too. maybe he should fall asleep more and talk less about protectionism. protectionism could hurt the economy because if you basically start slapping tariffs on chinese goods, they're going to do the same us to, that's a trade war and doesn't help either country. neil: i'm getting the thinks the white house is saying threaten, don't do it, you might get something. >> you are playing with fire. the other thing is the strong dollar notion or the weak dollar notion. foreign companies open up factories. if it takes -- say they make

$10. if it takes -- if they get less money back, if it takes more dollars to get a yen or foreign currency, when the dollar is weaker, that depresses their profits. when they have to repatriate the money. if that's going to happen, they're going to invest less than our country. maybe it sounds good in the short-term that we keep the dollar depressed, foreign goods are more expensive, right? because it take more dollars to buy a yen, to buy a japanese product, but long term, it never really works. neil: superpower shouldn't rest, i understand the argument, shouldn't rest its argument on a weaker currency, goosing things. >> no. neil: you want a strong dollar. >> you want people to want -- you want the japanese, the chinese and everybody else to invest in our country >> on the washing machines, south korea, the solar panels from china. could it spread from that? depends what the countries do. >> our relationships with the countries from a trade standpoint are very

complicated. this doesn't affect one product. also, you know, we -- i think where it gets problematic, we compose a lot of parts here with foreign parts, so they're manufactured here. neil: not black and white. >> and u.s. worker that puts it together. that is where it gets, if you start raising tariffs in the products, that's where it becomes a problem. the journal had a good editorial on this. this is not something you want to screw with. now, maybe this is a dog whistle to protect the nationalist, populist part who elected him and his base and he's going to do this stuff around the edges. neil: democrats like it, too. >> some do. neil: some do? >> some do. i'm just saying if you want one thing that could snuff out this rally, it's this sort of stuff, the protectionism stuff. neil: all right. are you ready to wash your mouth out with soap? >> you can't say that on the air?

neil: no, you can't not. >> didn't the president they about certain countries? neil: all right, the white house briefing will begin momentarily. ♪ (nadia white) the moment a fish is pulled out from the water, it's a race against time. and keeping it in the right conditions is the best way to get that fish to your plate safely. (dane chauvel) sometimes the product arrives, and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. (tom villa) we took our world class network, and we developed devices to track environmental conditions. this device allows people to understand

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neil: all right, we are awaiting the white house briefing. a couple of developments. certainly on going gift that keeps giving the tax cuts, or certainly the way administration will present it. starbucks the latest to share the loot with its works,

thousands of them. big powwow at white house with conference of mayors. two dozen mayors from around the country. in the middle of that the justice department starts to crack down on sanctuary cities in demonstrable ways, or even states like california to shield such workers in their midst. that prompted new york mayor bill de blasio and chairman of the conference of mayors to skip out on today's meeting. other cost follow. i have no idea. that will no doubt come up as well in the middle of this time, they're trying to negotiate some sort of a daca deal, immigration reform deal. no doubt sanctuary cities would be part of that, still might be in less than two weeks they have to cobble that together. we'll see if they sort that out. as reminder we'll look at all of this, something the president will say, not just details we get from sarah sanders but the president himself in the state of the union address slated for next tuesday, 8:00 p.m. we pick up the baton with coverage on this fine channel that goes

right through 11:00 p.m. ahead of that, a special live show, "cavuto live" on fox news. hand canning what is at stake for president and everyone else. then you have davos. the president heading off to davos i believe after those big powwows bright and early. trish regan, to you. trish: we're going later than 11. i will thereby from 11 to 12. continue analysis all night long live from fox business. breaking today, everyone, president trump pushing ahead with his america first policy as he gets ready to go to davos that america will no longer be involved in bad trade deals that will hurt american workers. we'll hear from the white house on the whole america first agenda. i'm trish regan. welcome to the intelligence report, everyone. the markets have been all over the place here today. stocks, currently at least on the dow, a little bit