goes out, we want them to spend the money and not wait many, many years to get their permits. $50 billion for rural infrastructure including prod band internet access. rural communities have not been treated fairly. so we're going to spend 50 billion on rural infrastructure and internet access which is so important. a workforce initiative that invests in our most valuable resource, the american worker. and we're doing a lot of that. we had a meeting, i had a phone call this morning with prime minister abe of japan and i suggested he invests more and open up more plants. they announced as you know a number of plants are coming into michigan and other states but we want them to bring in more. they will do that he said they will do that. we expect to have some announcements pretty soon. a lot of people are coming in, a lot of people are coming into the united states they were leaving but now they're coming

in. all good for the workers and our country. more power for state and local governments to choose projects. they want them to choose the projects they want, the most important projects, they know the best needs of their people. we want states to be very much involved in the choice where this money goes. after spending trillions of dollars overseas rebuilding other countries it is time to take care of our citizens. the money we spent overseas, not at least the middle east, where we spent $7 million f we have to fix a road, we can't fix it. if we have to fix a tunnel, we don't do it, because we don't have the money. we spent $7 trillion in the middle east. it is ridiculous. the american people expect all of us to work together to serve their needs. this is an issue where i really believe we can find common ground between republicans and

democrats. it is the infrastructure issue. it is something great for our country. it is something that our country needs. we have democrats here. we have republicans here. we have other meetings in the future including new meetings with this group. this is a very capable group of people and i think we'll come up ultimately with a solution to the infrastructure of our country which is in very poor condition. we're extremely happy with the bill that was passed because we had to take care of our military. our military was in bad shape. we had the biggest spending ever and our military will be stronger than it ever has been before. we needed that. i want to cut costs, we needed that. i want to spend the money on the military wisely. i want to see twice the planes for half the price essentially. we want to make sure we buy maximum equipment and other things with the dollar, not that it is going to be wasted.

so our military will be in bert shape than ever before. we will now have our discussion. we appreciate it. thank you all very much. thank you. [shouting questions] thank you very much, everybody. >> thank you, everyone. thanks, everyone. [shouting questions] >> thank you all very much. >> thank you. neil: you never know. you never know. welcome back, everybody, i'm neil cavuto. thanks for charles payne ably filling in my absence yesterday. we didn't learn more about the infrastructure plan the president was bouncing around with republican and democratic senators and representatives. 12 were in the room, seven republicans, five democrats here. but democrats are still wanting to know how this will all work. i know stuart got into it in his show but the idea is to encourage local towns, municipality, states, private enterprises to get into this they would get up front money

from uncle sam, $200 billion up front. that would be used as leverage for 1 1/2 trillion dollars worth of infrastructure spending. but how that works is anyone's guess, why some democrats balked saying you are really shifting this to state and local taxpayers, not distinguishing between shifting burden to federal taxpayers. leaving that out. there is no trigger mechanism that i know of in this that explains how the whole things works. if you commit, you get federal money up front so other private entities can match that. state and hoe -- local governments can't match. hike in federal gasoline tax a number of people have been advocating of late. the white house is not against that at face value. hasn't tipped its hand on that but this back and forth comes at a time both sides are confused what the president is really

proposing. make more details, blake burman at the white house. hey, blake. reporter: maybe is the key word here, you're right as you just laid it out there are a lot of questions with this infrastructure plan. you heard the president talk about it for four minutes, four 1/2 minutes or so with very little detail of exactly what these two sides will come together in agreement. keep in mind this has to be bipartisan swap, republicans have to have democratic support, especially in the senate, to get this over the finish line. at face value here they're talking about $200 billion, call it hard money, money that the federal government put forward. they want to leverage some seven 1/2 times that amount to get it up to 1 1/2 billion dollars, a trillion dollars, rather. democrats want more hard money put into this. they feel that this 200 billion-dollar number fell short. the trump administration show says, look, we're going to leverage this, put some of this on the private sector, and bring them in along with local and

state governments. but the question is, as you mentioned stuart got into it with marc short, head of legislative affairs here at the white house, what is the incentive for private companies to come in and spend their own money necessarily there might not be dollar for dollar match from the federal government. what we're hearing from the administration as we've seen in the past relates to roads, maybe there will be tolls. that was said once again this morning. democrats already cringed at that notion. chuck schumer is trying to posit this as the trump toll plan. there are a lot of questions here, neil. its important to note that the stakeholders that were here, are here rather at the white house, seven republicans five democrats, is the crucial group, republicans and members of the house, the crucial group that the white house feels could potentially at some point bring this across the finish line. neil: you know, blake, you don't want to politicize this type of thing, when i heard chuck schumer railing against this,

you come from a state just to get into manhattan costs 500 bucks, go to the lincoln tunnel. exaggerating slightly. my point, they are already quite familiar with tolls and higher fees and all of that stuff. they have been advocating still higher fees in the past. so the distinction only seems to this mitt be pushed by a republican president. hard to -- >> we know it pretty well here in d.c. if you come into the city from maryland. you fly down the highways, and you're fine. come flu from gyp i can't, it is toll after toll after toll. if you go across the country to say we'll take this infrastructure and raise money off of a buck here, a buck there out of your pocket, democrats already saying no way. neil: yeah, it does add up. a lot of republicans are saying the same thing. get a read from new york republican congressman lee zeldin. congressman, what i don't know, i think the democrats do have a legitimate beef in this regard not knowing what the president wants to do. he didn't really outline it or

articulate it more. in the closed-door session with these congressman and senators but i'm wondering how this leverage, being able to go off the 200 billion apparently the federal government provide up front will work. what process you have to go through to then, you know, apply matching funds to that? >> well, as far as state and local governments go in new york, my represented district on long island you have a lot of infrastructure assets owned by the state and local governments, the roads and bridges. these are projects that the state and local governments have to do anyway. so there is a lot of potential for the federal government to be able to partner with state and local government where they need to do this. same thing with the rail, long island railroad, mta, huge mass transit around the new york city metropolitan area, there is plenty of room for partnership. as far as -- neil: they want something out of that partnership, right,

congressman? i'm a business or enterprise, cement mixer or highway divider builder, whatever, i am going to want something. i want a guaranteed revenue stream to back up whatever commitment i'm making and that's where this whole thing gets kind of, you know, foggy. revenue stream to some means tolls, means higher fees, something that would encourage a individual company to come forward and commit, and i don't know if i see that? >> well, where you can have a use of public/private partnerships, private activity bond where you have, let's say, a local operating engineer union that is doing the work on the project. their pension fund get invested in projects all the time elsewhere, that doesn't actually go towards projects they're working on. so leveraging the investment of the pension funds of those doing the work. being creative, just figuring out any way at all you can

leverage money is helpful. your point is certainly well-taken. it is important to note that in some states, public/private partnerships have worked well as well as investment. pension fund and use of private bond. neil: you're right about that. it's a spotty record. there are success stories there. where it is a little less clear in this environment we have no money. we're looking at trillion dollar deficit this year. maybe long and wide as eyes can see. i understand the conundrum the president's in, you're in. you can't just throw out 1 1/2 trillion dollars up front of federal money to get this done. i'm thinking that democrats are coming back saying, well, why not? so, i think you guys have to explain how this is going to work better. because very smart people like the idea of a public/private partnership, it always sound good. i don't think the administration crunched numbers or details on this i just don't. >> something really important to point out is that at the end of 2015 congress passed president

obama's, signed law five-year funded highway bill. that included a lot of money that is being used, including money to help state and local bridges but also the road, highway system across our entire country. president trump who during the campaign said, despite the fact that you just passed a five-year, long-term funded highway bill, i'm a builder. if i'm elected president this is something i want to do. it is president who has forced this on to, into the agenda. neil: no doubt. i'm not besmirching him for that, on deck, he is craft at thissest handling debt, accumulating so much with multiple bringses, he coined that expression, when you owe banks money, they owe you. when the banks, a lot of money they have given you, you own them. i think, his fondness for debt has now extended to a federal undertaking here that could really zap taxpayers.

that is my fear. >> i think there is massive contrasts between where he is in his framework versus where senator schumer, for example, was with what he has been proposing. so when we were hearing a one trillion dollar number during the campaign, wilbur ross had a op-ed in "the wall street journal" where he was talking about this amount of money in federal tax dollars. a quarter of a trillion dollars in tax credits. >> right. >> the rest through private capital, at the same time senator schumer was using same one trillion number. he was talking about one trillion dollars in federal tax dollars. neil: you have to find a better way, that is given you do, congressman, someone has to explain how this private trigger works and how that private money follows the public money that is going into it. i know a lot of business guys who are just driven by the almighty dollar, god bless them, they want to see, they want to see how this is going to work for them. if they're going, if they're going to put money in the kitty,

they got to make sure whatever up front money the federal government is providing will not leave them -- gouged and certainly not leave local taxpayers gouged. >> give you one example, regarding leasing of land. in long island where i'm from, northport, department of veterans affairs hospital has buildings 15% occupancy for example. there are opportunities right now that exist that we're pursuing with the northport va for the public/private partnerships there with leasing of land. with regards to financing and the use of different bonding where private entities are actually able to get more advantageous financing for some of what they want to do, utilizinging that relationship with government. this is something early on in getting a final solution across the finish line. neil: i know what you're saying. that is good example, good explanation but i'm telling you they're not doing it. i think this came out the gate

half-assed, he all i'm saying. i could be wrong. 1 1/2 trillion dollars infrastructure spending but, but we'll not do it all with your taxpayer money. i don't think they explained this through the process how this could be very advantageous. it could, you know, perform the magic that the administration assumes it can. but i dare say i don't think they even know it. >> there is another element though, that they come out of the gate saying this is something that we want to do, we want to pursue. we want to work with congress, republicans and democrats to get it over the finish line. i was just before coming on air, i was looking at all difficult kinds of media outlets and opinion contributor pieces including members of congress on the democratic side and left-leaning contributing pieces op-eds written by people outside of congress and they are all just completely slamming the plan and they're saying $200 billion isn't enough, understanding this is $200 billion on top of what we

were already planning on doing. it is attitude that is pervasive, you know, all threw threw -- throughout the other parts of media. neil: you made a good effort to explain this. they claim out of the gate, something that looks good on paper to satisfy conservatives in your party, democrats are coming back i don't understand this. the old ronald reagan approach, jfk approach, tax cuts, how you pitch them and sell them do so again and again would have come in handy here. this came out of gate like one of my son's term paper, the night before, really bad and just you know, like a hail mary pass. but i could be wrong. >> well the good news is that going back to during the campaign in the summer of 2016 you are looking at a framework now that is somewhat consistent, pretty consistent with where they were when he was candidate trump. so now he is the president. they spent 2017 having a lot of meetings at the white house with

people -- neil: this has not moved since then. i don't see much clarification since then. it might. i understand what you're saying. i'm just saying that the reason why you're running into all this criticism from conservatives in your own party and from democrats is there is no there there. it is like one of those sugarless cakes, if you tried them. they look great but i'm telling you congressman, they're horrific. but i could be -- >> 200 billion-dollar sugarless cake is nothing to sneeze at. something to build upon if in good faith republican, democrats, conservative, liberals, want to get something done we'll get it done. we'll figure out how to turn it into legislative form to get it across the finish line. neil: thank you for working with my cake analogy, young man. no crumbs there. lee zeldin from the great state of new york. we have a lot of questions how this thing comes down. believe me, folks, i've been trying to study this, like a good student, get into it. i'm telling you there is nothing there. now there is a whole book i

could be missing on this but i don't know if i am. then there is this whole daca thing, immigration thing. they have a scaled down middle ground on this they hope will be the charm. but i'm telling you that too is looking a little weird. i'm not here to start out as a critic. i'm just telling you, if you're going out of the gate with a plan, you should probably all discuss the plan. i don't think they have. more after this. 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%.

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neil: if i had a dime he have one comes up asks me, what does market volatility, you guys keep always talking about market volatility, always in the eyes of beholder, but a good rule of thumb you have dramatic highs and lows and see these gut-wrenching swings of 1000 points in the dow, that is volatility. if it makes you do crazy things like skip lunch or dinner, that is volatility. if it has you reaching for sharp objects, that prematurely can have volatility. deirdre bolton has far better technical definitions what is going on, right? , man, oh, man. >> we got the cpi data point, measures price everything you and i pay for as consumers right? everything from salad dressing to clothes to fares on public transportation. look at the six-month chart,

we'll pull it up. you will see how the inflation gauge rose more than forecast. this is the latest reading t also matched december's increase. so the 6-month chart slowing you this is the fifth consecutive month, this might be the monthly change. so what i said will not match with this, this is the monthly change which also was a little bit higher but just trust me, year on year we are now in the fifth consecutive month of a reading above 2%. basically most economists are saying some inflation is here. probably heading higher but if it doesn't move up quickly, most investors and the economy can adjust gently. one more data point i want to show how quickly the highest amount of consumer debt on record ever. so $13 trillion. americans, this voracious appetite back for credit card, for auto loans. so consumers non-housing debt, also the highest on record. economists believe it or not are

not worried about it. they see as sign of confidence. when people think the income looks good. the job looks stable. they will go and buy a new car or things they would have held off on in leaner times. but neil, i will say, one part of this number, economists are very worried about, are student loans. outside of mortgages, that is actually the biggest amount of debt we have in the on economy and people are delinquent, sometimes don't pay at all. that is a little bit of a trouble spot. neil: those are not fixed rates. they are adjustable rates. they follow the market. >> that is a huge chunk. if you want to be worried, that is a part you can be worried about. neil: i find it interesting in your thinking you were worried about the rising price of salad dressing. now looking at doubling, tripling of ho ho prices. i heard about this healthy stuff. maybe this is unhealthy market in this environment. people worry about the that kind of volatility.

to deeder's point they stan back. let's go to market watcher, scott martin and we also have heather zumarriaga here as well. head they're, that not that people fear double-digit rates but they will go higher but not how much higher right? >> they are headed higher indicated by this morning's inflation report, that is okay if we have inflation coupled with growth. we had great gdp prints lately. 2.6% is projected rate. atlanta fed is projecting a five handle. as we have growth to back up higher prices in salad dressing, food, apparel, medical device, we will be okay. neil: i would pay a loot for ho-hos but that just me. a lot of people are emailing me what are ho hos? americans happen tight for this, and the swings. we really hadn't seen that

throughout the bull market, rarely especially last couple years. how are they adjusting to that? how do you envision that? what do your own clients tell you? because some of them are just saying i can't deal with this. i would rather be in something safe, solid, even dull, getting lower returns than to put up with this. >> it has been across the board, neil. i have had some clients looking at these opportunities to buy. but i have talked about on your show and with our friend stuart varney, if i can drop his name there, clients frankly one week they were super aggressive. next week we're having lunch they want to get out. i'm trying to keep them in. trying to rebalance them as best we can but some folks want to run. your lead-in before we got to deirdre was good. volatility is reaching for second french bred pizza in the box we had last week still moving things around. that will be part of your portfolio going forward if you're investing here at home stocks or bond, the fact that

rates are going up and the fact that equities have to react to it. neil: i assume you're talking about stouffer's french bread? i'm veering off here. heather, one of the things i always wonder about, given the up tick we saw in the cpi in the latest month, a lot of people didn't see that much higher than thought, year-over-year is now over, the fed's so-called 2% inflation target. offsetting that was a separate piece of data showing weekly mortgage applications falling 4.1%. another showing retail sales in january down unexpected .3 of a percent. in other words offsetting some of this fear of strong news are some stubborn reminders we still have some pockets of weakness. how does that play out? >> you're right. there is fear of this word stagflation. if the growth isn't there. if the spending isn't there. , prices are going higher, then, this was before my time could there be a stagflation --

neil: go ahead and rub it in. go ahead and rub it in. >> i love you, neil. i guess the fears are we need to have higher consumer confidence. as you know that consumer spending accounts 2/3 of economic growth and gdp. that is putting pressure on the markets today. i know we seem somewhat sanguine about inflation data at this moment, as investors bounce off data and markets bounce off the lows right now. but i think those fears will come back in terms of higher inflation, especially if you're not seeing retail sales data stronger. neil: scott, she was mentioning stagflation, which would be a slowdown in economic activity accompanied by a rise in prices the word of all worlds. jimmy carter experienced it. it is not a good combination. richard nixon did as well. do you see any sign of that? >> i don't, neil. i see early cycle inflation if anything. that is benefit to s&p earnings.

that cost jimmy carter his jobs many ways shapes and forms. heather may be too young, to remember this, we had balanced budget in the '90s. >> who knew. >> we could have that coming down the road here. i know it sound crazy, if we get economic growth debt is not a terrible four-letter word. growth gets us out of this. >> maybe but at some point in time, deirdre said cone mists don't care about $13 trillion in debt on credit cards and personal debt that has to be daunting number. neil: that is very good point. >> that we have to pay for this. not just our federal debt but personal debt is issue. neil: you will have to get a lot of wage growth to offset it. we're all-time high for personal debt. all-time high for government debt. we'll have to see how that all sorts out. >> let's party. >> happy valentines. neil: that reference to jimmy carter, a former u.s. president. these guys are a little young to remember him.

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neil: now the administration could have problems. the house oversight committee is investigating rob porter's employment at the white house and how it was, is, that he was approved for a job that the fbi telegraphed he didn't have the background for? indications of beating two former spouses. he said that wasn't so. the fbi reported that. said it passed that along. why do i mention that in the context of my next discussion on how this new immigration measure could pass? because it's a huge distraction. in fact it is all washington is talking about. not so much progress or the lack thereof on a daca accord or something that would be boil down, something similar on immigration. to "the daily caller" editorial director vince colignase.

that is the latest distraction when a republican house committee saying we'll look into all of this. that tells me there will be less time to look into this immigration thing. what do you think? sara? >> sara. absolutely, i think that definitely the distraction, more than that talking to some folks we already know that trump is unhappy with kelly's performance, the way that he has handled -- neil: you're talking about chief of staff john kelly? >> right. chief of staff john kelly. this investigation chairman gowdy opened could give trump pretext to act on this unhappiness. this came out concrete as consequence of the way kelly handled the situation. he could acting on something he may be predisposed to do. maybe put someone in the position to loosen restrictions placed on him that he is growing

increasely unhappy with. do you see this es. neil: do you see this escalating to that, vince, that the chief of staff could go? >> i see conversations happening. i don't know that it gets there. we often hear president trump musing from inside and outside advisors that leaks to the press what his next steps should be. i don't think that lead to john kelly's. remember this white house grew very stable, relative to whats it was when john kelly arrived. he was able to control the flow of information, and actually just get a sense, getting the trains to run on time. and if you are a critic of this white house you believe it runs in unstable way by and large or had in the past, the guy you want in the white house is john kelly. he brings stability to game. neil: but you could also say, sarah if he is such great shakes

and instability and third of staff churning and leaving will more than in the first year maybe there is better stability out there what do you think. >> absolutely. the fact that we're hearing speculation like vince mentioned from the kitchen cabinet of outside advisors that president trump has is sign that john kelly could be losing control. kelly cracked down on conversations that trump was having with outside advisors when he came into the white house. since july we haven't heard a lot of speculation that trump is happy with this person or this person. he was going back to the residents making calls at night. kelly largely cracked down on that. we're seeing them bubble up again. that is potentially a sign to me that kelly is starting to lose his grip on president trump because is influence may be waning. neil: i'm wondering, guys in the case of rob porter and drama around that, maybe you have some thoughts, when vince, i'm sorry trey gowdy coming out, you both intimated, launched

investigation to simply ask what the hell happened, just, answering that, or addressing that, could take a long, long time. you go, have to go through the chain of events, fbi clearances. who were the clearances passed along to. who dropped the ball. who didn't drop the ball, knew them and buried them, that would be a timeline much like the whole russia investigation and on and on we go? >> it is distraction as you were saying in the outset, this consumes the oxygen in washington and by and large, reporters in washington are desperate to play in this territory, because, they kind of like the drama back and forth. they think it makes the white house look weak. they pick on it a lot. but white house committed a serious of unforced errors over the last week gave this thing oxygen. trey gowdy is who is leaving congress. there is nothing holding him back in any way from partisan or otherwise speaking his mind. hey look, he saying we need to get the to bottom of this.

complicating factor in all of this is john kelly. unlike almost everybody else in washington, john kelly has this moral fiber we can all sense, we can all smell. when he involved in a story like this it creates a complicated series of events. most people in washington you can write off being politically expedient. john kelly, not typically. that is why the story is so interesting. i hope the general steps up to the podium at some point to answer some questions. neil: that could be interesting to put it mildly. thank you both, very, very. as they were speaking reassuring word or however they have wanted to step back from it, dow up 51 points. we have this confluence of data seems it show a pickup in economic activity. i want to remind folks it was not inflationary or good, that signs mortgage applications were buffetted by the market of late, they declined in latest period. overall retail sales in the month of january, after strong month of december they declined,

remind that's this notion everything is going off to the races that might be so but they're not exactly racing. more after this. it's absolute confidence in 30,000 precision parts.

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neil: it's a big deal when the house oversight investigation, the whole issue with rob porter who knew what and when, made it a formal investigation. those kind of things take a lot of time, maybe months. and the timeline on that, obviously distracts from things the white house, presumably democrats want to get done on immigration, all uncertainty around "dreamers," infrastructure plan, all that get stymied in the process? hard to say, this much is not. it is a political mess. charlie gasparino following all these developments. how is this border thing seemed to be more of a distraction from the white house, now it metastasized something far more significant? >> political implication republicans are running in 2018 and they could lose the house

and they can't be seen being soft on this issue. president came out gave ham-handed the endorsement of rob porter's skills in his job talking about how -- he actually questioned the whole me-too movement in a tweet. neil: a lot of republicans are fearful, paul ryan, making inroads on tax cut, numbers are going up, surveys show blank comparison between republicans and democrats they're putting up better numbers the all of sudden this happens -- >> you have to put the genie back in the bottle. , when i talk to the people on the hill would rather talk about infrastructure. so would i really? you would rather -- >> it could be a good thing. we could get into that later. neil: isn't it like pulling teeth when you get into the infrastructure thing. >> yeah. i talk to people who would be part of that, private equity guys, they want no part of it. they all raised funds, the journal has a good story, they raised money for infrastructure

projects but these are different infrastructure projects than what trump is proposing. what white house wants to do roads and bridges, stuff dilapidated and needs fixing. those are not generally types of project as private equity fund will look for its 8% bogey return. neil: they like broadband, big stuff, stuff of the future. >> maybe hoover dam, who knows, but stuff they could put money in or hover dammesque projects and know they get return, toll bridges, the triborough bridge is not something that blackstone really wants to do. it just doesn't have enough money. neil: the white house came out with this, i think they wanted to rush this infrastructure plan, 200 billion up front to leverage 1 1/2 trillion. fine. but without explaining how it is going to work. i have had people trying to explain. you know why they can't? they don't know. >> here is the other thing. i covered municipal bond way back in the day. i know a little bit the market

and private activity bond market. you can issue tax-exempt mine if i bonds to build public interest facilities, hospitals, stuff like that. it is unclear how much of that you can use in this infrastructure plan and republicans in congress generally hate that stuff. they hate pab bonds, that private bond thing. neil: they like it more than higher tolls and that sort of stuff. >> yeah but -- neil: by the way, lecturing democrats in this town fearing trump tolls -- >> that is absurd. neil: what does it cost to get in the city? $800? >> whether have andrew como twice me twice as much than bloke stone? neil: no one is able to explain how this partnership would work. >> they rushed it out. when you talk to the private equity firms what does he want. neil: what would compel a private company to get involved in this? >> i don't know. can you make -- neil: want someone else to dive into the pool first. >> let's just say blackstone

wants to buy the triborough bridge, right? it would need some financing to do that theoretically. can it tap the municipal bond market where financing is cheap? can they get, then, can they get the return, if they partner in with the feds and the state? neil: how do these quasi-private public partnerships go? we do it for education in a way. i mean, what is your sense of the history of it? >> this has been going on for years and -- neil: depends on the example. >> couple ways it's done. hospital chains will often issue municipal bonds because it gives back money to the community, right? stadiums, stadiums are built with municipal bond, interests have both the owner for example, the marlins, your good friend mr. sampson, his boss, jeffrey luria, got public money from miami. he put in some money. he issued low-cost municipal

bond to make it work. that is example how it works. neil: that is very good example. you could argue it makes sense. >> maybe. very controversial. a lot of fiscal -- neil: taxpayers get hosed. >> they hate it. miami hates lure youyaw because of all that. not hurts him but he is very controversial. blackstone raises funds to invest in certain projects and seeks -- a lot is the broadband stuff. the stuff it may partner with a state or a local government to do that but that's different than a road and a bridge. those are not generally things that the private sector wants to get involved in. neil: i know they don't think they thought this through. >> i don't think they thought the tax cut through because, particularly on the individual side because it will be pretty messy. neil: that turned out to give unexpected advantages. >> on corporate side. neil: well, bottom line, corporations sharing wealth. i'm thinking, they should be so lucky to have lightning strike like that again. i don't think this is that.

>> this is less thought-out. i know by the way it will sound funny it is only 200 billions. neil: chump change. like your paycheck. >> chump change, or trump change. all on basic cable. thank you, charlie. meantime have you had your flu shot yet? you might think winter is more than half over, i shouldn't bother. bother, bother. after this. the

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neil: flu season is upon us and some of these numbers when you hear them, i don't know if it is the worst ever, but scary stuff. better that than 60 kids die across the country otherwise healthy adults. doctor, what is going on here? >> there is a lot going on. neil, i really like what you said before the break, if you haven't bothered to get the flu shot yet, you really should bother. >> not too late, doctor, explain why not? >> not too late. flu season technically goes from october to may. neil: to may? >> yes. height of the flu season is december to february. we have weeks and weeks to go. we're not done yet. cdc thinks numbers will still climb. you need to get your flu shot if you haven't.

the rates of influenza-like illnesses now reached during 2009 when we had the h5n1 pandemic. neil: this was financial issue in texas who died that his husband said they couldn't afford 160-dollar co-pay on flu vaccine, tamiflu. do you hear cases like this a lot or are those, sort of outlyers? >> no. sometimes it does happen. what you're talking about with tamiflu is a antiviral. it is not vaccine. it is anti-viral helps reduce symptoms of the flu once you got the virus. what is important to keep note, yes, sometimes people do run into cost issues but i don't want this to deter you. we have sometimes run into shortages of tamiflu in different parts of the country. this is not widespread. this is what i say. if you don't feel like you can afford the medication, having a hard time finding medication, call around, ask around. call your doctor, see if

anything else can be done. it is very important. neil: now the way it is going so far, doctor, i mean, how do you advise patients handling this? let's say you got it. that, whether you had the shot or not, what do you do? >> okay. so this is the thing. flu season symptoms, right? you have the cough, run any nose, high fever, muscle aches and pains, you feel like you've been hit by a bus. most people will probably do okay on their own. the people we worry about with people with severe symptoms. you're not getting better. people that are very young. those older over age of 65. pregnant women, those with chronic medical conditions. you guys need to be seeing your doctor. this is the word i have for everyone else right there. i see people not coughing into the elbow, not using tissue to cover the mouth. be careful. wash your hands. disinfect surfaces. get the flu shot. it is so important. neil: do you think we've gone too far, people are afraid shaking hands period or is that justifiable? >> honestly it is justifiable.

you try to shake my hand i give you a fist bump or peace sign. i do that with people. it is really important. if you shake hands, go to the bathroom, wash your hand afterwards. use hand sanitizer. this is not overrated. this is how virus particles are transmitted. if we get them on our hand, we touch our face, we can become ill. not overrated. neil: well-put. you practiced in the green room, you just waved to me. that was fine. exactly. don't even come close to me. all right, doctor, thank you very, very much. >> good to see you. neil: dow down 72 points. we'll have more after this. tes? yes i do. true or false... type 2 diabetes more than doubles your chance of dying from a cardiovascular event, like a heart attack or a stroke. that can't be true, can it? actually, it is true. and with heart disease, your risk is even higher.

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all right this is our high point of the day on the dow. the s&p is just nudged into positive territory on the year. most major markets around the world is still underwater as is the dow and nasdaq. senator jeff flake is saying a new bipartisan immigration bill will be introduced in the senate today. i'm severally told the president isn't too keen on that plan. a few democrats, mostly republicans, but progress is being made, whether that. [inaudible] let's get to read on all of these crosscurrents.

on the move to get something done on immigration, they seem to feel they will strike well they feel the iron is hotter than it's been. can they? >> i think they can, but this is very serious and i think that the democrats are looking at the republicans, they are messing it up because they are holding it up because of the demands that trump wants on this legislation. in all reality. >> the demand mostly being the wall. >> but we all know this because he campaigned on it. my question is, do the democrats really want to free the dac people or not. if you really are representing these people, if you think there's a great benefactor of your party, then you will get something done and you do anything to help this because

the negative spin on this is we are coming into midterms, they didn't play on the tax reform and then they're not even really going to do anything, it's going to look, so who do they stand for. >> you are right about touching on the notion that it's being seen more favorably than i had been in the past and that some democrats might be brewing. the no vote, they want to proceed carefully on immigration. in recent months and years, in and of itself, we will have the senate consider the issue openable sides, contributing amendments to it. it's an open belt. there's nothing in it. mcconnell says let's rock 'n roll. let's debate. what the senate comes up with now, might be some kind of compromise. we've seen that come out of lindsey graham in the past. what happens to it in the house is a whole other issue.

if that were not going to pass anything here that the president doesn't agree with. there is a possibility, of both sides feeling that the process is properly playing out in the senate. that in and of itself is a stunner. the flipside is, i want your read of this, the risk the democrats take nixing the wall and her peeling a bill because it goes against their dna, whatever, but then explaining that to a base of latino voters, to say nothing of these daca young women and men, their security was passed over because of a wall. >> it is just not practical. >> but all because of that obstacl abstinence, but the come back to bite them. >> obviously they need daca to pass. they need to protect the dreamers. if the republicans don't pass anything for the dreamers, it won't hurt them.

>> what happens when the republicans and democrats get together? what we learned from the budget deal is it is more bloated that i am after super bowl sunday. it gets ridiculous how much pork is put into these things. the dreamers, they contribute $2 billion in taxes, i don't understand why we can't, from a fiscal conservative responsible position say let's get a clean bill through and stop playing politics. >> i think there will be strings attached, but if it comes to that, do you agree with what you are saying that it's more on democrats that this falls through and that they will have hell to pay. >> oh yes, and we will say that in the midterms. i feel like, i said earlier i keep harping on the same point but it is their ball to fumble. they have adopted the protection of the daca

people. they adopted this as their lead cause and there's one thing that hinges it and it's that wall. if they don't adhere to that one demand, the demands are clear. going back to you, we are doing this from scott so everybody can put something in the mixing bowl. >> you think some of the policies you've seen, more support building, more improving numbers, is that something that might be changing the outlook for the november races. >> with the spirit of the republican party who has the bad label of protecting the 1%, if they are now for the working man, they are now putting money back in our paycheck and they offered 1.8 million dreamers amnesty if they would do the wall. whewhat does the democratic party stand for because it looks like the label switching to the republican party.

>> there's a crimes act. whoever comes up with these acronyms anyway. i think it's absolutely wonderful. let's not forget these corporations are making billions and billions of dollars, they are risky, look how amazing we are, i can't believe how incredible this is. it's a lot of money for families. let's not go crazy. >> you will be able to abate this round or square depending on whether you are republican or democrat sang come on it will be playing out before the midterms. >> but won't be playing out. >> it depends on how they're feeling.

is it your sense that the tide could be turning? i'm nothing enough to change the election but to improve the sentiment toward republicans more than has been. i think it's way too early to tell and it's anecdotal. whether or not people feel that a dollar 50 more. week and it is crumbs or whether they feel it's a nice lady case. >> it was a french case. whether they feel look, things are going well, my company is hiring but that's actually good side. it means economies picking up and lifestyle is getting better for my kids. >> would make you think more favorably of the present. >> very hard to say. there are so many other issues at play but economic well-being is always at the root of voter sentiment. going with the sentiment that

it's perking along, that will go well. whether or not all the other issues play well for the republicans as a whole another. >> your right on that. the fact that everybody likes to have a good economy and people are scared to vote against a good economy. whether they like president trump or not, who cares, they will look at the geo gop and when their voting in looking at midterms. >> i'm not sure i agree with you. >> like president trump or not is not an issue. i think that will be an issue but a generic ballot which has been a constant monitoring used to go decidedly against republicans are now even. not that that. >> the disdain of donald trump amongst millions and millions cannot be understated. >> that doesn't answer my question it will weigh heavily

in the election. they were right off the heels, calling him lazy and the rhetoric continues to spew out of this white house. >> this stuff could register. >> they could pick up a very public and feet. >> on the latest numbers that show just a general democrat republican, not putting names in the dow, it has changed. as we learned in 2016 who is on the ballot matters so it was 2 - 1 democrats. it's approved for republicans. >> it's the economy. >> it didn't work on the economy. >> on the immigration issues, both sides are giving on this. they are saying we will pay for some of the law and nursing we will allow some of the daca to take place. >> you are seeing that this is kind of getting closer and closer, it will be determined by the other issues, how much

broad immigration, how much, if any amnesty, other paths to citizenship for the other 10 million. >> that is brilliant on mitch mcconnell's part because everybody agrees, especially with zero-based budgeting, this is almost zero -based immigration. >> we will see if democrats like it more than the idea of a wall. that's really what it comes down too. >> that as well put. >> i can't predict the future. >> thank you very much. we are up and i should point out that very briefly we have touched 2.9 on a tenure note and it's back to 2.889 if you're keeping track. whether that was a trigger point to buy, i have no idea. but again, that did not dissuade investors. so what to make for that, i agree it's picked up a little bit. the effects on everything from wall street to main street and for the republican congressman

, she is running for governor of florida. very good to have you. good afternoon. >> if you had a look at the economy, florida is a very different case, i know, it's become even more alluring for those escaping high tax states under that tax plan, but what you make of the changing fortunes for some republicans. again, we talked about the survey that show people might not be predisposed to throw republicans out. >> i think there is some truth to that. if you look at the midterms, even if there is normally a swing back against the incumbent white house party, those very. i think that history shows, when things are doing pretty well and you're not involved in a major war, you don't have a major recession, that gives them the power to hold their

own. i think we have a contrast that was developed based on this tax reform. if you remember, people like nancy pelosi said not only would it not help the average american but it was one of the worst bills that's ever been drafted. it was going to be armageddon. that's the ground they staked off and then they say look, our tax system is not competitive, we've got to get with it so we are attracting capital and just in the two months since the bill has been enacted, you see hundreds of billions of dollars earmarked, jobs being created, and so on. >> they want to make tax-free the bonus money that you get, his argument is that you should be entitled to that. he's taking a cue from nancy pelosi to call the crumbs act but this republican of indiana thanks he has a good chance of passing that. does he. >> i think it's a good idea. i also think one of the things they said, they are making the

corporate tax cut permanent but they're not making your individual rates permanent so in ten years be prepared. i think we should call that bluff. the only reason i wasn't permanent was because of some of the budget math and arcane rules. put a bill on the floor to make the individual tax cuts permanent. i will gladly vote for that. i think people like pelosi would vote against it. >> than some of them come back and say why did you make the individual rates permanent and not corporate. >> you think the reason is it's just a particle calculation. it's much more likely that there will be incentive for both party to re- up the individual rates and to extend it. with the business rate, it's an ideological things that may not have been a sure thing. i think that provided business certainty and we can easily follow it around right now, not having to deal with budget reconciliation, just put a bill on the floor and let's make that rate permanent. >> the president now is dealing with what could be an oversight investigation into

this whole handling of the rob porter case. do you think he's got problems there, that the tone in the message he sent to women is coming back to hurt him, maybe even you. >> here's the thing. if you have spousal abuse, you can't serve in government. it's just, it has to be a zero tolerance policy. i think the investigation will show what was actually known and when. some of these background checks, they may not have a lot of meat on the bone and that's different than having photos and first-hand testimony which i thought was very powerful once that emerged. we will see what happens. i think, as soon as the evidence came, if they acted they would be fine. if they didn't there be more questions i will have to be answered. >> thank you very much. it's good seeing you heard. >> let's look at the markets for the dow is up 150 points despite interest rates. that has a lot to do with the

better-than-expected performanc performance. it came in higher than thought. some people read a high number and that inflation was up at the consumer level in the latest month, 2.1% year-over-year has assigned the economy is doing well enough. is that how it ultimately going to shake up? after this. hi, i'm the internet! you know what's difficult?

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>> romney could be running into a missed storm. the candidate entertaining running for senate in utah, rob anderson, head of the republican party there, the gop chair, he doesn't appear to be a big fan, implying that romney is running as a carpetbagger and compared to hillary clinton, he doesn't live here, his kids were born here, and he doesn't shop here. he also attacked romney for his past opposition to trump, he has never been a trump supporter, i just wanted someone to support the party platform. it tends to favor the conservative candidate in the race and that is how michael he emerged to become the senator from that fine state after the circular area and

effort. generally they run that but there's no guarantee that he possibly announced to tomorrow that he was in that race and it would scare off conservative challengers. according to the utah state gop chair, he would encourage such challenges. >> with those correspondents in the battle for the center at stake, a budget and debt and crazy market, he's keeping track of all the above in washington. >> we've had some key testimony by couple administration officials on pretty much all of the above, third day in a row that he has been defending the president's budget. what was new was that he appeared before house committee and acknowledged report we got today on consumer prices and he talked about inflation. he said the key for him and the challenge will be growing the economy or adding dramatically to inflation.

>> there are some questions as to why it's not higher than what it already is but we do believe some of the policies we've undertaken will allow us to keep from inflation being under control and yes, all things considered, how do you pay down the debt of a long-term, you have to grow your way out of it. >> you have to combine that growth with fiscal discipline, something he argued that the budget the white house presented does. as you said, the other key official testifying before the senate finance committee, the treasury secretary, not a lot of talk of market volatility or current market conditions in that testimony. basically what we saw was republicans taking the opportunity to praise the administration for the tax cuts that were enacted in the effects we are seeing. democrats complaining about the cuts to some of the domestic plans but also using

this with nguyen to go after him on russian sanctions or lack thereof. the administration last month held off on imposing new sanctions against russia and that led up to this tense exchange asking him whether he had in posed sanctions on russia. here it is. >> i have never heard the president of the united states say a bad word about russia. >> that's not the case. >> i've never seen it. he always avoids,. >> let him answer the question. >> i will mr. president, but he's not answering the question but i want to know if the president asked him. >> when happy to tell you is that i have told the president, i updated him on the report, i told him we would be doing sanctions against russia and he was pleased to hear that. >> so, the administration position is that the sanctions are just delayed, not called off. one final point, a headline in the story that we've been following, he said the irs is

said to issued new guidance that would forbid hedge funds and other investment funds from dodging a carried interest loophole by setting up shop in the state of delaware which reportedly, a number of them have been doing so that's something to follow and something we should talk about. >> thank you very much. in washington, speaking of washington there's a trillion dollar deficit and the fact of the matter is when you add up all our money, our next guest says think about this, adjusting the interest on the debt will be our biggest expense compared to $700 billion for defense. the news editor terry jeffrey, that is mindnumbing. you have the rising cost of interest rates and by definition, caring that debt. >> we been saying historically very low interest rates on the

market federal debt, a little over 2%. it can go a lot higher than that. it can easily triple and paying a trillion dollars or more just on the federal debt. in the budget, if you look at the budget message to congress that president trump published, he said the physical path we are on is unsustainable. he is right but then he says the budget that will add a .7 trillion to the public held that. >> a lot of people are criticizing the presidents infrastructure plan. the it would be leveraged. the thing i got a kick out of is the criticism that the 200 million money upfront is not enough and i'm thinking, does anyone read about this debt, accumulating deficits, there's a lot of time taken to discern whether we had the

money for a tax cut and everyone ignored the additional central human spending that will accompany that. they have taken in more revenues than any other fiscal year before. the federal government is getting more money. the course of the fiscal year we are still hundred 75 trillion in debt because they spend that much more than they brought in for the problem is not the revenue, and suspending. right now we don't have the voices in washington who are

in position of power that could potentially add trillions over the next ten years and no one is saying that. the federal debt is divided into two parts. they're selling and people are paying the interest and may have with the treasury called the intergovernmental that which is now still over five showing dollars is the money they stole a lot of trust funds in the government is

going to pay back itself. but at the time it will go away as the social security program run a deficit and all of the debt is going to be publicly traded debt that the treasury needs to sell and the public will demand a much higher interest rate to buy that set. not only are we going to pay more than a trillion dollars in interest on the debt, we will have to float new debt every single month. >> another looking at 5% growth. that doesn't address all the sins. >> it doesn't. if you look at the historic pattern, federal revenues increase when economic growth increases. penn it spurs increase

revenue. also when you look at the historical pattern, even when revenue increases tremendously because of economic growth, federal spending increases more and we continue to have deficits and pile on the debt. whenever paying on the debt, the question is the deficit we have to build an even bigger debt. eventually we will hit the wall and if interest rates go up, the moment we hit the wall will be closer and closer. >> thank you very much. i that was a sobering reminder. eventually we will have to address this to everybody because that trend appears to be unstoppable. thank you very much. just to put in perspective, i may have confused you, right now the average interest rate is 2.3%. the historical average is actually closer to five or 6%. our debt and the cost to carry it are roughly a trillion dollars and would by definition just double getting back to the norm. if he got even slightly higher than that, try triple.

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>> there are very few americans, or american families that have served this nation more honorably or sacrificed more for this country than the family of general john kelly. >> john kelly's service in uniform, his distinguished service at our department of homeland security where we saw dramatic crossings and distinguished service as chief of staff and gives me and the president great confidence. >> john kelly, just a reminder that the general lost his son in the iraq war.

they seem to be sticking by the chief of staff right now, but as more details come out on how to handle this rob porter situation, is he on part-time. >> there are a lot of stories in the press that have anonymous sources saying they are looking for replacements, they are thinking about replacements, his days are numbered, on the other hand, one of the reasons why this story last so long and is so ironic is that this is one of the very few items that come out of the trumpet ministration have very little to do with trump himself. was generated by john kelly, he was post with a grown up in the room and there are a lot of people who actually would prefer to go back to the chaotic days of the first few months of the trumpet ministration which were the days that john kelly vanished and in some ways it's like the

clown car once back into the white house and that's why they're out for john kelly. >> where is this going? >> it's hard to say as jonah points out because this is the same media that said rex tillerson was supposed to be gone six months ago and that pompeo was supposed to be secretary of state or cotton was going to be over to cia so usually the media gets these things wrong. i'm not saying it's a bad scandal and it doesn't look good for kelly. the way he turned things around, the chaos, all these things are generating because of what he did, because it's so separate from trump, i think they can get past it. >> i think where the president got involved and whether he liked it or not was his characterization and supporting rob porter.

they found ample opportunity go after th the president. what do you think about i think he should have chosen his words more wisely. donald trump doesn't want the follow-up questions that if he says he has empathy for these women than they would say what about the women who accuse you of x, y, and z and he doesn't want to see my kids caving in to public pressure by saying the word that the press is demanding that you say and this is sort of a perfect storm of scrubs and messaging. there was a great anonymous quote in the washington post about how this white house doesn't even have a coherent strategy about how to have you

skate. i am amazed at the hyperventilating on whatever the latest issue is put on not minimizing the story are other stories that come out. we often preach on air that there are three news networks in many business networks that are on 24 hours a day. we can get into all the issues include what's happening with the markets and progress of the tax cuts and the effect on the economy. >> exactly. you see it daily at the press briefing. they're all but two mentions

of the spread they are a one track mind. if it's new phony russia story, all the questions are about that. if it's a stock market tanking, they seize on that because they want it to tank because they think it looks bad for trump. >> big nor even that. >> i will give them credit for being consistent. but believe me, this is a president who doesn't flip over me and doesn't come on the show and that's fine but even i can see through this. you are not even being remotely balanced about it and this under the guise that what happened and when, and fine. but i think you're being a little bit to eyebrow for words. >> i would just say look at the coverage of the olympics in north korea. just because mike pence was over there and they have to approach everything as antagonistic to the trumpet ministration and then they end up propping up the director

propaganda from north korean regime. it's really incredible and this was widespread on the entire mainstream media. everything is trump bashing. >> and even to your point where it might be warranted that the administration might've given them fuel for the fire, where do you see it going. , it will be driving the new cycle here. >> let's just be honest. the left wing bias in the press is not a new story without. it's heightened, it's more intense and more personal that with trump than it has been with other presidents although i do remember some awful things said about other presidents, but i think, in

this climate, i am a trump skeptic but i also think the resistance types and mainstream media. not to join the race to be wrong first and there are so many that are desperate. just wait for the facts, wait for muller. >> i'm in a steel that one and say i came up with it. it is a legitimate story. what becomes your only story, whether you like the president or not, at the expense of everything else, i don't know.

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you've heard by now the so-called volatility index, the year index, the vicks index, it's relatively common today given the run-up but just walk in chicago with more

on some feds sniffing around. what is this. >> they believe or there's whistleblower charges that the wicks is being artificially manipulated. this gets complicated so try to hang with me. we sought jump all around with the volatility in the market. it is a track of the bids on s&p index, in other words what are the traitors bidding at the s&p are going to do. they're going go up a lot, down a lot, back then would give some indication about what the volatility would be. it's possible, if you make a lot of fake bids for there to be volatility and you are betting on volatility. you can manipulate that market. here's what this whistleblower

sets. he says that the fall that allows trading firms with sophisticated algorithms to move the vicks up or down by simply posting quotes on s&p options and without needing to physically engage in any trading or deploy capital. they are putting fake bids out there. cbo says you're actually required to maintain acquisition for ten minutes and complete the trade if someone takes it. you're taking a chance of someone does that. they say no and getting hurt by this, but the whistleblower says this market manipulation has led to multiple billions in profits taken away from institutional retail investors and cashed in by unethical electronic options market makers. although the whistleblower admits he has no direct evidence this is taking place. they get about a quarter of its revenue from the vicks and they have hit back hard. here's what they said in the statement to riders. they say this letter from the whistleblower is complete with

inaccurate statements, misconceptions and factual errors including a miss understanding of the relationship between the vicks index, vicks futures and volatility exchange traded products. >> we can tell you last week when this market was going nuts the volume on the cboe and vicks options all time records. on february 2, 4 million vicks option trades completed. there's a lot of people in this and is read you a quote last week from one of the guys who started the vicks who said i don't know why we even have this. it's just basically a place where people combat money. you can go to vegas. i don't know. it's going to get some scrutiny. >> i will say, that's the best explanation of what it is. >> did you really understand what i was saying because i'm not sure i did. >> no, i didn't, but it was well presented. >> i did my best. >> do any of you in here know what jeff just said?

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>> you in the ten year that's a four year high and the dow at a session high today. if were worried about higher interest rates, so far, so far, funny way of showing it.

it's a little weird, isn't it? >> well, i think we've had a change of sentiment. i think what's happening, ucs intro way toward this, just because the yields were on a ten year rise to a four year hi, that doesn't mean stocks have to sell off. in fact, it seems to me that the market is telling you whe we understand, it's inflation, we are going to grow and we are going to buy stock as a result. it's fascinating. >> it definitely is. it tells you these traders are looking forward to more growth. >> it also tells me that the traitors might have paused a little bit on the stronger than in expected jobs report from january and wait a minute, mortgage applications were grinding to a halt, retail sales also after a strong december went the other way, down three tenths of a percent. maybe i'm not at all calling

that inflation but it does affect the fear of much higher interest rates, or does it. >> work, we've watched economic data months after months get better and better. i think this market activity we've seen over the past two weeks, couple that with the economic data, a little bit of a flap with reality. this market isn't going to continue to move higher all the time, our economy is going to have to pause at some point, and at that point the feds really have to take a step back and look and say what can we do to help this move along. we continue to talk about interest rates, tiny patterns of interest rates and this brings it back to the floor. i think with the new fed chair , a little bit of a different blueprint in place moving forward, they will have their backs against the wall to really make some serious decisions. >> some follow up on that point. you say then that the two or three rate forecast will still be more than that? >> i don't think we'll get more than that, i think if they stay the course, what

they initially said and if they stick with that blueprint, wall street, main street like transparency. we like to get an idea of what will happen if they stay with that in our economy absorbs that accordingly to mike that will be a positive sentiment. >> too many people pay attention to the budget or the battle on immigration or the scandals in washington, is that moving the meter? >> i really believe that right now, what investors are paying attention to is economy because it is changing. it's morphing. it's doing something very different than it's done the past eight years. growth is picking up in a fundamental way. you saw the story in the wall street journal that consumers have more debt than ever, but buried in that story, it also told you that we have a higher net worth than ever. consumers are empowered, they are spending mother making choices which is all good news, and i really think these are the kinds of things that

investors are watching. look at the sectors that are up. financials, technology, these are all companies, sectors that will benefit from a rising stock market and a growing economy. >> if volatility is returning, this is your life in bread, do you see that as a good thing and that we simply get back to historical norms? with volatility there are swings and it's a reality, we have to get used to it. >> it is the reality. markets cannot go one way up in one new way down. we need to have winners and losers and push and pull. this is healthy for our market. most important, it wakes everybody up. we been so conditioned and brainwashed that no matter what ever negative headline news that's out there, nuclear bombs coming out of north korea, government shutdowns, huge political issues, interest rate hikes, any negative headline has not derailed this market. this is a very good wake-up

call for everyone to pay attention that this market could be fragile at these levels but that doesn't mean the economy is bad. >> i wish i had more time. thank you very much. in the meantime, the dow is up 166. so again, they're not worried, right now. and how great we can be. ♪ ♪ i'll stand by you. ♪ i'll stand by you. ♪ and i'll never desert you. ♪ i'll stand by you.

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. . . . ♪ neil: you know, at 4:00 p.m. on fox news i will have this congressman unveiling a something called to make tax cut bonuses tax-free. the "crumbs act."

the inspiration for the congressman wanting to do this, nancy pelosi her famous comments on that. he has a lot of support on this. the "crumbs act." should be interesting back and forth. trish regan, thank you for your hard work yesterday on "your world" and everything else. you have a busy hour. trish: thank you for having me in for you. always an honor. thank you, neil. stocks in the green as investors digest fresh economic data that could have big implications for wall street. this is triple-digit gains here after being in the red. markets basically shrugging off alarming report that we have more inflation, rising higher than expected. as we get surprisingly weak retail sales data. you know, i don't think people are too concerned about