election. everybody was there. everybody had tears in their eyes. >> of course. stuart: very emotional moment. >> very. stuart: sorry to leave you out of this, susan. welcome to america. >> welcome to the show. how about that. stuart: neil cavuto, it's yours. neil: i'm relieved you got here legally. we are all better for it. thank you very much. stocks have a good end of the month, end of the quarter, first half of the year with the 217 point advance here. a lot of this may be in recognition of the tax cuts and everything else the administration is celebrating and crowing about for good reason. they have argued that this is the win that the market is back, the economy is back and may be a reason why the chinese, europeans you name it will capitulate and give what the president wants on trade. it's anyone's guess. what is not is the president making sure that the world knows what happened six months ago.

blake is at the white house with more. reporter: hi there, the white house is celebrating the six-month anniversary of the passage of the tax cuts measure from the end of last year. set to hear from president trump 15 minutes from now at the white house. this was, i would say, rather, a signature item for the last half of 2037 once this got enacted into law, the economic story has been much of the trade measures. and that renewed once again this morning when the website posted the story saying that the president has been threat. ing privately to withdraw from the wto. here's what i can tell you about all of this. senior white house official telling me this morning that the president has been very frustrated with the wto, has expressed his frustrations with larger multilateral trade deals. as we know if president prefers bilateral one-to-one trade deals. and the treasury secretary steve

mnuchin came out pushing back the notion that the u.s. is withdrawing from the wto anytime soon but did say that the president doesn't think too highly of the thing. here he was earlier this morning with maria. >> i won't use our favorite word about the -- maria: fake news? >> this is an exaggeration. the president has been clear with us and others he has concerns about the wto, he thinks there's aspects of it that are not fair, he thinks that china and others have used it to their own advantage. but we are focused on free trade. reporter: by the way, as it stands right now, no major legislative push on withdrawing from the wto within this white house yet alone on capitol hill. that would need to be a major hurdle to clear. as for the president, again, 15 minutes from now we're expected to hear from him celebrating six months of their tax reform signature legislative victory. by the way, neil, off of the top

of the remarks we do expect the president to address the deadly shooting from just down the road from us yesterday in annapolis. neil? neil: thank you very, very much. at the white house. so let's take a look at all of this. this idea now that the president talking about an economy that has benefited from tax cuts, also benefit republicans this november. let's get a read from the gop fundraiser noelle. and nick. we also have former deputy asis about the to bush 43. we begin with you, the notion that the president is going to push, republicans want to push it, the tax cuts work. and they are still working. first of all, is that you view in i have a feeling what you're going to say. but will it translate to saving republicans and keeping the house this fall? >> i certainly think it's a great message and the republican

mantra is you can't argue with success. what the president promised, he delivered. he exceeded expectations whether it's on growth or taxes. the american people are actually seeing a politician for the first time in a long time deliver. and they're living it now. they're seeing it in their paychecks, looking at their iras. we're humming. and i think democrats have history on their side because since the civil war on average the party that controls the white house loses about 33 house seats and two senate seats. we'll defy that because president trump republicans have a record. neil: what do you think of that? >> well with all due respect, i think he may have things a bit confused. here's what we do know based on the tone. middle clas american families have not benefited from the tax scam that's been rammed down the american people's throat by the gop. transfer, this wiltherefore, thn that will determine how the middle class americans feel. >> they're getting a tax cut.

>> they have not felt anytime their wallets. there are a number of people putting two ends together hoping too meet. the wages are stagnant. they're still fighting to just. >> they were really stagnant under barack obama, right? >> you have to remember, barack obama was the one who saved this economy. >> wait a minute. stagnant wages are an issue to you now, why weren't they an issue before? >> we got the train back on the tracks first. >> we got it. >> and the president is now benefiting from grass that's been planted and watered and nurtured by president obama. >> why can't it tb both presidents? why didn't they both have something to do. >> i think barack obama. >> you're not going to give any credit. >> i'm giving him credit for nurturing and maintaining the grass planted by the previous president. >> you can too look at this, the

1.4 trillion, different ways of looking at it, 700 million of those were child tax credits which would be in antwuan's interest. but having said all of that. is the president overhyping something that his predecessor started? >> no. i think that. >> you won't give him credit? you won't give barack credit? >> on what, exactly? >> on saving the economy, you won't give him credit on that part? >> with the stimulus we did kick start the economy. i will go give obama there. i'm going to be fair. >> absolutely. neil: let her answer. >> i will tell you that i feel like with trump, deregulation is key here. deregulation. with a lot of the, you know, the fda, with a lot of different organizations under his belt that he's made these appointments, deregulation -- neil: that started the spending and all of that. >> the repatriation of funds and

tax cuts. if you have a combo like that, it's a road to success. look at what the market is doing. however when the market is going down because of a lot of the news headlines, in ye yen againe never had markets at this level right like it is. neil: the markets give and take, right. >> and the market is not the economy. let's be clear about that. neil: fair enough. i will say this. if you're going to hook your wagon to the market. the president is going to have a lovely day today. the fact of the matter is that a lot of the market guys are still concerned about a wild card being trade and these tariffs. is it your concern that even some republicans have raised that whatever benefit we're getting from the tax cuts, which is not a huge fan, whatever benefit is coming is wiped out on tariffs? what do you think? >> not at all. i think we may see some

retrenchment but it's worth it. no pain, no gain for the last eight years under obama we've given away the store. and it's time now to have free and fair trade. that's all the president wants. what we're looking for is to get a fair shake from friend and foe. and i think the american people get it. putting america first -- neil: you're going after friend and foe. you're going after everybody. you're going after canada. >> to what expense do you want donald trump to check a political campaign promise. to what extent? >> to what extent? i want success. not fertilizer. >> there you go. >> i want to make sure there are concrete gains. and when people take advantage of you, you got to stick up for it or shame on you for taking it. >> i won't disagree with that. going back to the tax scam that was passed. >> it's not a tax scam. >> you know there are generations of people that are going to pay for the tax scam. >> nonsense. neil: this one i hear a lot.

antwuan, this fixation -- listen to me here. the fixation with the cost of the tax cuts but not a word about the cost of all of the added spend in the same budget. why do you focus on the tax cuts and whether we can pay for them but not the almost $10 trillion in added spending which we can't come close to paying. >> i'm focused on it all. i want to remind people who want to do victory lapse. neil: you said you're concerned about the debt. >> i certainly am. neil: but you're more concerned about the money that went back to taxpayers and not the money added to spending that they're all going to be on the hook for, rich and poor alike. >> they are. neil: but you didn't mention that. >> these tax cuts are unnecessary. neil: i would argue that 10 trillion in spending is unnecessary. you're ignoring what i'm saying. by the way, republicans play this game too when they gloss

over the spending. >> i'm not playing a game. neil: you are. when i asked you why you're making such a big deal of the tax cuts and how we pay for them, you ignore the fa fact wee ten times that in spending. >> sometimes you have to give and you have to take. sometimes you have to give some things to get some things. and i believe part of this spending bill that you keep reference to, increasing spending was part of the giving. neil: what? >> it was part of something -- neil: bottom line, you're okay with it. >> i'm okay with it because the majority party made it happen. neil: all right. that's like we justifying eating an entire apple pie. it was there. we just had it. anyway. all right. >> 0 bottom line, i think that, you know, originally you were wondering if this is going -- if the blue wave is going to be able to make a difference. and i actually think that the red wall is going to stand and the blue wave is not going to be able to go over it. because if we have numbers like we're having now and general

america pretty much general america, not talking about the left, but general america, if they're happy with the way things are -- neil: they're not going to be happy with this guy. this is just coming in. condition da's foreign minister saying ottawa will oppose retaliatory tariffs on u.s. goods effective july 1. >> thank you donald, thank you trump. neil: is that going to offset whatever benefits you talked about? >> that's a good point. this is breaking news i assume. neil: that's how i roll. >> the first thing i noticed is a date, july 1st. that is coming up sunday. >> sunday, with yeah. >> that's a solid date. we've been talking about -- neil: i know. they're saying sunday we're going to do this. >> and you know what, neil? here's the thing. july 1st we have a solid date because with these trade wars everybody has been alluding to

the trade war but not put a specific date. let's see what the ramifications are going to be. neil: someone has go to blink here. and that's normally how we avoid trade wars but sometimes we don't and sometimes they drag on. the president might or might not mention that in his remarks celebrating the six month anniversary of the tax cuts. you don't seem to like donald trump. this guy is like priceless. have you looking at it saying this is -- because a lot of your republican friends are saying it's the last thing we want to get caught up in. what do you think? >> i think the president is right. we got to stand up to the bullies, friend and foe and we got to look long term. most politicians only look for today. they're not looking at tomorrow or down the road. and i think for the first time in a long time we have a president who is willing to stand up. i'm all for it. if it causes us some pain in the short term, let it be.

>> like the midterm elections? -l. >> in the long term we're going to benefit from fair trade even with our friends. neil: how do you know this is fair? you can pick and choose with any country, there are some goods at which they might be gouging us. the canadians have pulled a fast one on us. but by and large when it comes to the average tariffs were canada's is less than 4%. you can pick and choose your battles wu canada is not china and treating them in the same manner is not. >> that is true. here's what we need to do. we need to start negotiating and i think that's exactly what's going to happen. we're not going to war. neil: don't have a lot of time to do it. >> these tariffs are going to cut through the fabric of our economy in south carolina. you remember, we're leading the nation thanks to a number of people and a number of things, we're leading the nation on many fronts. these tariffs are going to cut through the economic fabric of

who we are. they're dangerous for trump country in the south. neil: whatever we were doing in the past has not worked. see what happens with this. >> according to who? neil: i'm just telling you. the tariffs existed for all of this time. a lot of countries screwing us. i'm not saying this is not the answer. >> it's not the answer. i don't speak in waves because i can't swim that swell. neil: i see where you're going with that one. >> i love football and i can tell you we're on the 20-yard line. if we don't fumble the ball we'll get in the wave in november. neil: reminding the canadian restrictions going po into effect on sunday, sunday is apparently canada day. she would know. she's canadian. i know, i know, i'm not canadian. that's why sunday. >> i'm not canadian either.

neil: 247 points. thank you guys. waiting to go to donald trump at the white house. thicstick around.

neil: all right. we're getting word at the white house that there could be a supreme court pick from the president of the united states before he heads off to europe,

by july 10th. that's a lot earlier than a lot of folks thought. remember mitch mcconnell said it would be in good order to do this in rapid order here so that they could go ahead and have hearings in the early fall and get him approved before the november election. we're waiting for this white house event where the president is going to be doing some crowing about the half year anniversary of the tax cuts that went into effect. i think that's ivanka trump talking to wilbur ross. let's get the read on all of this to george mason. professor, what do you think about that timetable, july 10th, a name. >> i think it's feasible. so many of the candidates have been vetted the first time around, a year ago for the nomination that went to justice gorsuch. but i think they can probably move through this one pretty quickly. neil: they've got to make this, that is republicans, a perfect choice. they can't afford -- it's been more common than not where the original pick either fails or

flounders and then you have to rely on a second or a third choice. i mean the president struck gold with kneel gorsuch. a lot of folks are saying. hard to repeat that. >> among the president's scarcest resources are his nominations. a lot of the names on the list are very good, well-respected judges. brett cavanaugh, amy barrett recently appointed to the seventh circuit really shown in her confirmation hearing when she was assaulted by senator feinstein and others for her religion. there's a lot of great nominees in there or potential nominees. neil: is it fair to say that the most you can hope for may be one or two democrats to vote whoever the nominee is and there's just as good a likelihood that a couple of republicans might not? it's going to be close. >> that's right. the president is going to need all of the votes he can get in

this no matter what. given the stakes, given who this new justice will be replacing, this will be the most hotly contested supreme court nomination of our lifetimes. and happening in the middle of one of the most poisonous years in our politics. this is going to be ugly no matter what. and the president will have to fight very hard to get democrats to come across the line, folk us like manchin. neil: is it your belief they'll have a pick done before the november elections? i mean obviously everything has to go perfectly. what do you think? >> if i had to bet on it, i'd bet yes. neil: really. now the other issue then becomes how divisive they will be and how it will weigh on the midterms. this is outside your purview, i know. but what do you think? >> well, you're the politico and i'm the law talking guy. but whoever is nominated is about to face a preemptive declaration of total war from critics on the other side, folks

who hate seeing this seat go to a conservative rather than somebody from the progressive left who would continue the expansion of rights that justice kennedy and others have tried to usher in through the courts. neil: justice kennedy has been in an odd role where he's been elected the tiebreaker and what have you. maybe that will come up in some of the remarks the president will volunteer on this six-month anniversary of the tax cuts. let's go to the white house. ♪ ♪ .>> thank you very much, ladies

and gentlemen. thank you. [cheers & applause] thank you. wow. [cheers & applause] that's good. thank you very much, everybody. the economy is indeed doing well. [cheers & applause] six months ago we unleashed an economic miracle by signing the

biggest tax cuts and reforms, vi to add the word reform, very important word, but the tax cuts is what got us there and that's what is really doing it. the biggest tax cuts in american history. now it's my great honor to welcome you back to the white house to celebrate six months of new jobs, bigger paychecks and keeping more of your hard earned money where it belongs, in your pocket or wherever else you want to spend it. [cheers & applause] before going any further, i'd like to address the horrific shooting that took place yesterday at capital gazette newsroom in annapolis, maryland. this attack shocked the conscience of our nation and filled our hearts with grief. journalists like all americans should be free from the fear of

being violently attacked while doing their job. to the families of the victims, there are no words to express our sorrow for your loss. horrible, horrible event, horrible thing happened. and your suffering, we pledge our internal support. the suffering is so great. i've seen some of the people. so great. my government will not rest until we have done everything in our power to reduce violent crime and to protect innocent life. we will not ever leave your side. so our warmest, best wishes and regrets. roahorrific, horrible thing. thank you. thank you.

for today's event we're honored to be joined by our great vice president, mike pence. stand un up, mike. [cheers & applause] also joining us are secretary steven mnuchin who has been keeping very busy lately, steve, secretary wilbur ross, wilbur, secretary alex acosta just came up with a great health care plan. thank you, alex. great health care plan. people are really liking it. association. sonny perdue, the great secretary of a agriculture. small business administrator, linda mcmahon doing an incredible job. director mick mulvaney.

and our treasurer. thank you. thanks also to a really great friend of mine, mississippi governor phil bryant and all of the other state, local, federal officials that have done so much to help us with this incredible tax cut and job plan. you see how it's working. although i have to say i think that the cutting of regulations maybe had just as big an impact. i don't want to -- i don't want to say this to you, but i think the cutting of regulations had just as big an impact. i also want to welcome juanita dugan. kay coals james. karen carrigan and michael

bellaman for helping us. your support has been incredible in helping get this very difficult legislation to the finish line and fast. please stand up. [applause] >> stand up. what a team. great team. thank you. thank you very much. and there are so many others in the room, you know, you're never going to speak to me again. but we're not going to give any more names. let's get down to business other than these names who are the important ones, okay? we're also especially proud of the republican members of congress who fought. i mean, they fought with us. we didn't get a democrat vote. we didn't get one vote for the massive tax cuts. so i want to thank roger wicker, representative diane black. kevin brady, what a warrior, kevin. kevin, come on. stand up, kevin. come on. [applause]

mike kelly, my friend, and jason smith. our great republican members of congress worked night and day to score this landmark victory. this really was a landmark victory for their constituents but much more importantly for the country. unfortunately, every single democrat in the house and senate, that's right, every single one voted against lower taxes for the hard-working americans, and you see what's happened. it's turned out to be something very special. the tax cuts and jobs act slashed income taxes all across the board. we nearly doubled the standard deduction and did double the child tax credit which ivanka wanted very much. i will tell you. stand up, ivanka. stand up, honey. [applause] whoa!

she got a bigger hand than the politicians. you are better be careful. that means you're all in trouble. [laughter] the typical family of four earning $75,000 will see an income tax cut of more than $2,000, and in some cases more, slashing their tax bill in half. we cut taxes for businesses of all sizes to make that the best place on earth to start a business, to invest. we have billions and billions of dollars of additional revenue coming in. we lowered the corporate tax rate so the american worker finally has a level playing field. we allowed companies to deduct every single penny of investment in new equipment, and it's called expensing. it's the biggest secret in the plan. i think it will go down as maybe the most important element. it's one year expensing. nobody thought we'd ever see that.

so incredible for starting up a business or running a business. we greatly reduce the burden of the unfair estate tax commonly known as the death tax. you know, that's such a big thing, and most farms and most small business will not pay any estate tax or death tax anymore. such a big step. [applause] we created opportunity zones to promote more jobs in low income communities. we opened anwr, that's a big one. we opened up anwr. [applause] that was one that they said no president could get it for many years. i wasn't going to do it because i was angry at someone. i said i'm not going to do it, and then when i heard that ronald reagan couldn't do it, nobody could do it, they've been trying for 50 years, i said, let's do that immediately. like a challenge.

[cheers and applause] right? challenge. and they've started that process. it's going to be something. one of the biggest in the world. we also repealed in our tax cut plan, we repealed the most, i guess you could say unpopular thing i've seen in a long time in politics or in legislation, the individual mandate on obamacare. [applause] the individual mandate. how about that one? that's not a very good one. that's where you have the privilege of paying a fortune in order to not pay to have bad health care. think of that. so in other words, you pay a lot of money not to have health care, so it's not working too good. we got rid of it. that's a big thing. we got no credit, but that's okay. that's okay. [applause] i've had some people come up to me, they say they like that as

much as the tax cuts. that was a big thing. and obamacare is just about over. we have come up with so many plans, and we have a plan coming out, an additional plan, secretary azar coming out in a short period of time, i think it's going to perhaps match your plan from department of labor. very special. six months after our tax cuts more than six million workers have received bonuses, pay raises and retirement account contributions. [applause] and one of the beautiful elements of what i do. i love to see happy faces. i'll stand in line sometimes before or after a speech and be with a lot of people that want pictures. for whatever reason, they want a picture of me, and i stand with the police a lot, and i'll see a policeman, and a particular one in new york city

and he said, sir i want to thank you, you've made me a hero to my wife and family. i've always been a horrible investor, but this year my 401(k) -- think of it -- is up like 46% i think he said. my wife thinks i'm a genius, she thinks i'm the greatest investor for the first time in my life. [applause] and, you know, in terms of value or worth, we've created $7 trillion worth of value for our country, and people don't know this, we're double the size, almost double the size because we hear china and china is terrific, and our relationship is terrific, we're straightening out the balance, and i think most people want to see that. but we're the largest economy in the world by far, and as you know, we've increased a lot over the last 1 1/2 years, but we're almost double the size of

china and far bigger than anybody else, and we're going up very rapidly, and it's going to continue to go up very rapidly. biggest in the world by far. think of that. we are the biggest. did you know that? the biggest economy in the world by far. that's the only way to do it, right? good. it really is. it's pretty good, and they helped us. a little bit, right? just a little, that's okay, every little bit counts. >> absolutely. >> so the share of small businesses raising benefits and pay has just set a new all-time record, and manufacturing optimism to me is so important because it's all about optimism is the highest ever recorded. this is a -- [applause] >> this is a statistic that's been around for a long time. highest ever recorded, hundreds of billions of dollars coming back from overseas.

over $300 billion was just repatriated into our country in the first quarter alone. think of that. 300 billion. [applause] money we never would have seen. trillions more dollars are on their way back, and as you know apple announced they're going to spend $350 billion. not million. i would have been happy with that, too. but $350 billion is being brought back. i guess the total amount they're bringing back is approximately 230 billion and putting up the rest the old-fashioned way. they're bringing this money back, it would never have come back. they're going to build an incredible campus and lots of other things. we just left wisconsin, and what foxconn is building up in wisconsin is literally, and i said it, the eighth wonder of the world. it's incredible what they're doing. 15,000 jobs, going to cost $15 billion. it is something that is so

incredible, you have to go see it. nobody would believe what's happening. more than 100 utility companies have lowered prices as a direct result of our business tax cuts, saving americans $3 billion on their utility bills. utility bills are going down. unemployment claims are at a 44-year low. that's a good one. 44 years. [applause] something i am so proud of. i love it. unemployment for african-americans is at the lowest level in the history of our country. [applause] i'm looking at kevin. that was a good job, you were right about that, kevin, huh? that is something. we were all right. everybody in this room was right. and i have to say unemployment for hispanic-americans likewise

is at the lowest point in the history of our country. unemployment -- [applause] unemployment for women, in our view, if you listened to my speech two weeks ago you would hear the lowest in 21 years, now the lowest in 65 years and soon will be the lowest in history. [applause] big difference. 21 years, 65 years. hopefully in a week or two, it will be history. we're close to history. 65 years, a long time. i'm also very proud to say that unemployment for the disabled americans has reach the record lows, giving these incredible americans the chance to realize their unlimited potential. that's what it is. unlimited potential. [applause] many former inmates are also getting a second chance at life.

we are keeping our promise to buy american and hire american and what's happening is our economy is so good, our unemployment is so low, and our employment is so high, maybe that's an even nicer way of saying it, and people that want to get a second chance, inmates, people coming out of jail where the stigma were so great, people weren't hiring, businesses weren't hiring. they're hiring them now in record numbers, and you know what? these businesses are saying they are fantastic. they're set, and as one gentleman in particular, he hired ten inmates, never did it before, and he said i wouldn't say he said all of them, but he said seven of them are so incredible. this is not a bad percentage. i think that's a better percentage than we have. [laughter] >> he said seven of them are as good as he's ever had and going to do a lot more of it. so there's nothing like a great

economy to solve that problem. jared, right? and chris, thank you very much, chris. [applause] but this is all because we're one country and really one family, and we salute one great and beautiful american flag. we love that flag. [applause] and at last, our country finally has a tax system that is pro jobs, pro-worker, pro-family and pro-american. [applause] so one incredible citizen, who has benefitted from our tax cuts and job act is lessania hill. i love that name lesania. if i have another daughter, i'm going to name her lesania.

can i copy it? i love that name. of jacksonville, florida, i love that place, i continue will. lesania is the manager of customer care at marine. crowley was able to pay employees like lesania a big tax cut bonus. they took a lot of money and gave it around to the employees. that bonus will help support the education of her two sons, cameron and christian. [applause] pretty good, right? pretty good. so we're so happy for your family, and i know your sons are going to make you very proud. they're great young men. and lesania, please, would you say a few words, please? >> thank you. [applause] >> thank you, mr. president, for the invite, it's an honor

to be here today. as you said, crowley maritime was able to benefit from the tax reform by paying employees bonuses, and in return, my family, we were able to invest in our children's education. [applause] my son cameron, he'll be entering into his senior year at morehouse college in atlanta, georgia. [applause] and my youngest, christian hill, he will be entering into his freshman year at savannah state, both in the fall. [applause] so because of the crowley

maritime is a fantastic company, i've been there 24 years, very honored to be with a great company and a company to benefit from such a great tax opportunity in which they were able to give back to the employees. so i want to thank not only mr. president for allowing us the opportunity to tell our story, but also crowley as a company that i've been with for so long throughout my career. so thank you, again. >> thank you. [applause] >> good job! by the way, she got the biggest, by far. [laughter] including you ivanka and

including all my political geniuses out here. great job. like you're a professional speaker, very good. have you done that before? >> i have not. >> you have not? it's called potential! [laughter]. >> thank you, honey, thank you very much. beautiful, beautiful family. another american who has used his tax cut to give back to others is guy bercowbile, president of guy chemical in somerset, pennsylvania, the great state of pennsylvania, incredible place. guy increased bonuses, raised salaries and purchased new equipment. guy hired 30 new employees to meet customer demand which is actually booming right now the best he's ever had, and here with guy are two of his tremendous employees, lee and deest and michelle krulick. we want to ask guy if you could say a few words about the tax cuts and how it's affected your

company, and i assume your people that work for you are really happy? please. [applause] >> thank you. president trump and the members of congress who have voted for this tax bill, i can't tell you how much it means to my company and my employees. when i founded my company in 1995, i mortgaged my house seven times in order to pay for the growth of the company over the next ten, 15 years before the company finally got large enough that it could stand on its own. the money that we are saving from the corporate tax cuts, i have reinvested back into our business and into our employees. we recently just built an additional manufacturing facility in somerset, pennsylvania. this addition includes new equipment, a new compounding room and a new lab for research and development that is five times larger than our old lab.

[applause] this investment in our company has led to a 35% increase in sales over the first quarter of 2018, in addition to the 30 new jobs that we created this year so far. [applause] with the tax cut money, i have been increasing salaries and we have also increased bonuses to our employees. i have some of my employees that have come down and are sitting out here in the fourth row and i have two right here. michelle krulick, her son also works for us, stu. michelle one is of our line leaders. she is using the additional money from her increased bonus to fix her car. i take it so she has a reliable

way to work every day. and her and her husband are also taking a vacation, a second honeymoon to celebrate their 25th wedding anniversary this year. [applause] and lee is a navy veteran. [applause] we're proud of our servicemen back home. he is our head of maintenance. he's the guy that keeps my plant running. he and his wife have two young daughters under the age of four. so he's using his additional money from his bonus to help offset his expenses for child care and they are also taking their first vacation in five years. [applause]

president trump, i'd like to thank you very much for fighting for american businesses and our workers who keep our factories running. [applause] thank you. [applause] >> thank you. how did he do? pretty good! pretty good. [laughter] >> that's a good combination. i want to tell you. lot of talent. i just want everybody to keep up the great work. common sense is being restored in washington again because hard-working americans are in

charge of their government once again. washington tried to change us but that's not going to happen. instead we're changing washington and we're changing it quickly and for the better. [applause] that's why our economy is booming. that's why our families are thriving. that's why our businesses are growing and that is why america is winning like never, ever before. we're setting records every day. these are victories and they're your victories, and now what we're doing is straightening out our trade. our trade has been a disaster. we were being taken advantage of as a country by many, many countries. friends and enemies and those in between, and sometime our friends in terms of trade were treating us worse than the enemies. and i want to just tell you that's being taken care of very

well and very beautifully. our steel industry is coming back, never have they seen anything like what's happened over the last four months with steel, they were dumping steel, dumping all over our land, they were dumping steel and we were losing our steel business. united states steel, the head called me up two days ago, he said it's the most incredible thing we have seen. we haven't expanded in 30 years, we haven't done anything remotely like expansion, and we're now expanding and renovating areas of plants that haven't been used in forever. you remember, u.s. steel was massive. they have plants that went a mile and a half long and they were using little corners of plants. he said this has not happened for decades. it's back. we were in south carolina the other night and georgetown steel, georgetown is a wonderful company, couldn't make it, they closed four years ago, they announced as i literally was getting off the

plane. they announced they're opening up their steel mill. 600 people are employed. [applause] and what it means is it means jobs, we can't lose the steel industry. steel we need. certain industries we have to have. you know what else it means? billions of dollars will come into our treasury. nobody talks about that. billions and billions of dollars, what's happening with steel, aluminum, what's happening with other industries where we're working to revive them. believe it or not, washing machines, they were dumping washing machines and they weren't good machines, all over the country, and we put a big tariff on a certain country for doing it, and now we have the washing machine plants that were closed, they're open and they're thriving. [applause] solar panels, 32 plants, it's a new industry, so they weren't

old. 32 plants all over the country. two were open, the rest out of business, and those two were in bad shape. now they're doing great and looking at 10, 11 and 12 reopenings of solar plants all over the country. they are great panels. so the level of quality, and just to finish, many countries are calling saying let's negotiate. they were never doing that. they're saying let's negotiate, please. please, we want to negotiate. they weren't doing that before. of course, i'm not sure if your past representatives would have known the difference, but let me tell you they're calling and they want to negotiate and all we want is fairness. we're going to be the smart country again, not the stupid country that was taken advantage of by everybody. [applause] and you made this possible. you are all truly making

america great again. a slogan that i'm very proud of. that was a slogan that seemed to have worked. i tell you what, it was a very special and it's so accurate. even more so than america first. america first is very threatening to others. we don't want to be threatening. but make america great again, that's what's happening. we're bringing back our pride. we're bringing back our jobs. we're bringing back our wealth, and for the citizens of this great land, we're bringing back our beautiful american dreams. we have dreams. you guys have dreams, i'll bet, big ones? now you're on a level playing field. now you're on a level, beautiful playing field. going to go out there. going to be fantastic. [applause] >> going to be great futures. i want to thank you all and say god bless you all. very, very special people. thank you for all the help. our country is doing so well.

possibly as well as it's ever done. i don't think it's done like this in terms of the economy, and we have -- we're rebuilding our military. $700 billion we got approved and $716 billion for the following year, so we'll have the strongest, best, most modern military that we've ever had, relatively speaking, and we need it. [applause] and we hope we never have to use it, but the stronger it gets, the less likely it is that we'll ever have to use it. so we're going to have something very special. i want to thank a couple. generals of my great generals in the back. these are tough cookies. we have the best in the world. we have the best military in the world, but now we're going to have -- it's equipped with the finest. that means jobs because we build it here. when we build the beautiful planes from lockheed and boeing and grumman and all of the different places, this is all

american jobs. the ships, all american jobs, it means a lot. jobs mean nothing compared to the importance of having the right. that's in one case, the only case where the jobs aren't as important. we have to get the military taken care of. but jobs are a secondary benefit and we have jobs all over the country. so i just want to thank everybody for being here, a very special time for the country. very special time for you, god bless you all. thank you very much. [applause] . neil: listening to the president talking about the six-month anniversary, give or take a couple of days on the tax cuts. you know, close to 1 1/2, $1.6 trillion worth, the administration arguing that is already brought in more than enough revenue to pay for them and done the job for the economy to give it the boost it sorely needed. as he's speaking here, i want to bring your attention to the corner of wall and broad, the dow is up better than 200 points. the last trading day of the month and the quarter and the

half year. it's been a very good day for financial issues which have been taken on the chin the last couple of weeks, a little less so right now with the likes of bank of america, citigroup, wells fargo. jpmorgan chase doing okay here. not so much in that arena goldman sachs and morgan stanley, get into the details on that in a second. some, not all technology issues coming back. some are considered to be trade plays and could be vulnerable to a trade war if it accelerates. you might have heard the canadians are planning to impose tariffs, $16 billion worth on sunday, canada day, we're told and people are going to start think there are repercussions for getting tough here, but the administration thinks in the end we will win because we will not tolerate any chance that both our friends and foes thrust at us. that's anyone's guess how it plays out. the president thinks others will blink before we do, if that's even an option.

let's talk to best selling financial author and "barron's" associate publisher jack otter. they can boomerang, the president is convinced that won't happen, what do you think? >> i hate to dodge it, but i want to say volatility always happens, and i don't want anyone to make their investment decisions based on whether they love or hate trump because the 401(k) doesn't care. neil: absolutely. and the 401(k) goes through presidents of both parties, usually. >> exactly. now they've gotten that out of way, and yeah, obviously a trade war is not a good thing for the markets for savings and so forth. net net, not a good thing for jobs, certain industries will benefit, but the total number, we'll lose more jobs than we gain from a trade war and in any event, the market doesn't like and understand that the market always goes up and down, so the

barron's cover this weekend is going to be about cash, you know? it's yielding a little bit more. we're suggesting maybe people put aside a little cash, and then if you're a long-term investor, great. if you like to trade, you might get -- neil: why are you basing what is typically a conservative call now on the belief that the trade war is going to materialize? >> that is certainly one -- two reasons. one, yes. we think there is danger of greater volatility. and number two, because you're actually getting something for cash now. neil: a little bit. >> there are other things, some floating rate funds that look interesting right now. so it ain't nothing, and it might be good to have some liquidity, because here's what you don't want to be, you don't want to be forced to sell when the market's down 30%. you want to be the guy who happily buys at a lower price from those forced to sell. neil: those forced to sell bought a lot of stocks with the runup on that. what do you make of the tax cut

impact, while i've got you here? >> sure. neil: i always think a lot of this started, you could argue, in anticipation of tax cuts, but they weren't looking like such a sure deal. i think a lot of it started with the deregulation push. what do you think? >> well, i think it's a combination. both -- we should distinguish the corporate tax cut and the deregulation are, obviously, good for companies. we saw right on the balance sheet the earnings skyrocketed, was it 15%? because of the tax cut. now, that's going to level off. you're not going to get that every quarter. now it's -- they're going to continue to go up by not that much. that has definitely helped. here's the interesting sort of conundrum though. as that goes up, it pushes the federal reserve to start to worry about an overheating economiment -- economy. so if the interest rates go up enough, it's nice for your savings account, but at some point that starts to dampen the beneficial effects of tax cuts.

and mean while, you've got this yawning deficit. so we have to play that carefully. we -- the good news about tax cuts is if they can generate more economic activity, then you generate more taxes and, therefore, the deficit shrinks. we're not on that trajectory right now, and that's a little bit worrisome. neil: i don't know anyone who worries about deficits -- [laughter] and they should, you're absolutely right, it's not on anyone's radar. >> yeah, it's not. it will be soon, but for the moment it certainly is not there. neil: you know, the flip side of higher cost of items you get with tariffs and all that, this is maybe perverted logic, but this notion that the federal reserve is less incliented to raise rates because -- inclined to raise rates because it would slow the economy. >> right, so that's the third element, right? you've got tax cuts pushing the economy up, then you've got the potential for interest rates putting the kibosh on it, but then you've got a slowing global economy which means the fed can sit back and not be as aggressive as people are

expecting. all of that points to volatile markets, so people should prepare for that, and you don't want to be freaked out if the market should fall 10%. i'm not saying it will, but as an investor, again, set aside politics, be the person who's ready rather than caught by surprise. neil: a little cash in nip's portfolio is not a -- in anyone's portfolio is not a bad idea. >> absolutely. you want to not have to sell to get it -- neil: what percentage is barron's recommending? >> we don't -- neil: you don't want to tip your hand. >> it's totally different. if you are a 65-year-old retiring next year, you want -- neil: a lot of cash. >> you want three years' worth of cash. if you are a 38-year-old, have enough in case you lose your job, but otherwise you ought to be aggressively invested. in fact, we had a financial adviser tell us that in his retirement accounts for a 40-year-old, 97% equities. neil: whoa. holy cow. >> yeah. neil: there's got to be a happy medium. i don't know what that is.

jack otter, thank you very much. let's get the political read on all this. to sabrina schafer. the president, you know, has long argued, sabrina, this is what's got us coming back, the markets coming back, the economy, and this is what democrats, not a single one of them voted for this in trouble. what do you think of that? >> well, i disagree. [laughter] i think there are some very good things happening with the economy, but i think that departing from close to 100 years of trade policy and throwing our allies under the bus and, you know, instituting tariffs which are taxes is ultimately going to hurt the american people, it's going to dampen the economy -- neil: but what if they never materialize, sabrina? his notion -- now, i could have him pegged wrong here. he doesn't think it'll come to that. of course, to your point, the canadians have announced on sunday they will -- >> right. neil: $16 billion plus are coming from our friends to the north, maybe more to come after that. but that's your worry, right?

>> well, yeah. maybe i'm disagreeing with the style that i don't like the bullying of our allies. let's talk about canada for a second. we have a massive border with a wonderful, peaceful, like-minded country, right? we don't just, you know, bandy about sort of inflammatory rhetoric and then impose tariffs on this ally. we want to be able to stand shoulder to shoulder with canada against real threats, right? when we're dealing with china, for instance, we want to be a united front. we don't want to be sort of in this antagonistic relationship with our neighbor. neil: i'm just wondering how it all sorts out. like you, sabrina, i can't see us coming to these over the top tariffs on both sides. if you look at the rollout of these from july 1st with the canadians and july 6th with us, the first $34 billion tranche largely with the chinese, and the chinese just a couple of days after that on july 15th, a new wave and then india after that, you hope cooler heads prevail and it never, ever

happens. but something's going to happen and then what? >> right. and i would think, you know, sort of thinking about who's in the administration, the kevin hassetts, the larry kudlows, i can't imagine there's a lot of economists around the president who aren't saying just that, right? that we don't want this to escalate. but i think a lot of this is sort of rooted in the sort of grievance culture, in this idea that there was a golden era and that the only way to make america great again is to go back to a time that never really existed, right? we want the economy to be moving forward. we don't want to be funding inefficient parts of the economy at the expense of other parts of the economy. and i think that there's sort of this very dark underbelly to all of this which is cultural, it's economic, it's not forward-looking. and be i hope that, you know, his advisers are able to persuade him otherwise. neil: i don't think they will be. i think what he's going to be doing is sort of seizing on this moment to get a good deal of attention and fear out of countries he assumes will blink, he assumes will offer us

something. but whatever benefit is gained, i just fear it could be short-lived, and the repercussion could be damaged relations for a long time. i know a lot of trump lovers are going to say there goes that never-trumper baffoon, but i'm just saying that is more likely in this environment right now. >> well, you asked about the political implications, and there's a lot. this is refashioning the republican party, and what does that mean not just for november, but beyond -- neil: so republicans on paper are about the government staying out. now, tell that to financial institutions and banks who had to have their hineys rescued, and happily so, after the meltdown. by and large are, they're a hand-s-off -- hands-off group. >> right. when government gets too big, everybody needs to make sure they're getting something. [laughter] but, no, i agree i think there's a lot of positive things that are coming out of this administration on the economic front -- neil: absolutely.

>> -- health care, tax and budget, but trade is deeply worrisome. neil: this will rain on that parade and then some if they're not careful. sabrina, always good having you. thank you very much. to sabrina's bigger point about the backdrop, the economy and the market which is good, responding to all these positive developments like the regulation cuts and, of course, the tax cut, this kind of falls into that, this idea that a lot of people are going to be taking vacations this year, a record number are going to be flying this year. we're told ahead of the july 4th holiday in the middle of next week 47 million will be traveling. deirdre bolton on what that could mean and the impact already alive and well now. hey, deirdre. >> reporter: that's right. hey, neil. we heard in president trump's address there from the white house some of the companies that have benefited from the tax program that was passed six months ago. we heard two different instances where families are taking a vacation, one family for the

first time in five years, another couple celebrating a sort of second honeymoon after a 25-year anniversary. to your point, it seems at least consumers feel more confident, more comfortable spending on a vacation, and today may actually be the single busiest day ever, ever, ever on record. transport authorities, they say they may be actually processing 2.7 million people today alone. so the previous record you have to go back to the sunday after thanksgiving in 2004, and that just puts into perspective how many people are on the move, at least expected to be on the move today. so that travel does underline consumer confidence, willingness to spend. what i should also point out is it's hot. here we are outside, and there is a northeast heat wave. it's actually not just the northeast. the national weather service has actually said from the rockies to the northeast wills going to be a weather -- there is going to be a weather advisory, heat

advisory for the next five days in particular. we're going to see temperatures at least in new york and all along the east coast into the 90s, holding at triple digits definitely through sunday. so, of course, just some common sense tips, check in on your neighbors, loved ones, drink when you're not thirsty and keep your pets in air-conditioning, neil. neil: yeah. i think in new york it could be over 100 degrees on sunday. >> reporter: yep. neil: and we're temperamental to begin with. deirdre, thank you very much. scott shellady watching all of this safely ensconced in london right now, including a pick-up in oil and energy prices. all of this following this supply and demand. >> we've got a lot going on in that area. i don't know what's happened to america, but there's a word -- my father used to say there's a word for this in the english language, and you know what that word is? neil: no. >> summer. [laughter] neil: calm down.

>> slow your role a little wit. we've got a lot going on in the energy market, and it's good for the market up to a point, and after a while it starts to retard growth. we're kind of in that sweet spot where it's okay. i know we've got a lot of people traveling, things are about 24, 25% more expensive than this time last years, however, things are a lot better. at least people think they're a lot better. trump's done a good job of making you feel like somebody's got your back, and i think that's why people are traveling, they feel better than they did last year. neil: are you worried that a trade war could disrupt all that? obviously, governments don't pay tariffs, we do, average folks do. the question is will they, so it's not guaranteed you pay a set finite number more than you did before, but it does complicate things for people, doesn't it? >> yeah, well, you can leapt it complicate things for you if you want. i've heard the tit for tat when we talk about, say, qanta, the european union, obviously,

they're in the middle of it here as well as with china. and here's what i've got to think, you know, he's playing to the base. they want to feel like he's doing something for them, right? doing something is better than nothing. i don't think that's what's going to drive this market if we have some sort of selloff. it's not going to be trump-related, you know? it's going to be inverted yield curve related, something else that doesn't have to do with trump, because i think the market's slowly but surely getting more and more comfortable with the way things are coming out of the white house, much more than they were before. the markets are comfortable with trump. they know what they have got now, and i think the problem is going to come from left field where it could be italy falling out of the european union or something like that that sets the market off for an inverted yield curve. neil: that's a brilliant point p. i've noticed that, the regardless of how people feel about president trump as one market watcher was telling me, i've learned to go with the guy, trust the guy because it seems to work out for the guy, and as a result, it works out for

investors. so he takes sort of with a grain of salt some of the comments he hears. but whatever happens seems to happen to the good, and he's giving him the benefit of the doubt, for example, on the trade thing. are you? >> yeah, i am. i am. neil: okay. >> i think there's going to be some unintended consequences and some people that are going to be, you know, collateral damage. but i think that, ultimately -- neil: you don't want a lot of collateral damage. >> no, you don't. neil: you want to limit that. >> we have to set ourselves down and look in the mirror, and nobody agrees with donald trump except in the mirror. at the end of the day i know, i believe for the first time in a long time we've got somebody that really believes in america and has americans' back, right? and i think that's why he gets the pass he does, because when people really look at the situation, they generally do believe in their heart of hearts and his heart of hearts that he's got the country's best interests in mind. he doesn't want to hurt the economy, he doesn't want to hurt small business, he doesn't want to hurt international trade.

he generally does finish the world or at least the u.s. generally does believe he's got their best interests in mind, and that's what we're going on right now. neil: i don't think anyone comes intentionally into that office saying i want to do some damage here, that the policies he's going to take are going to have the opposite effect but, again, the jury's still out. right now given this runup in the markets and certainly what we've seen in the economy, it's inarguable, the success he's had. we'll see if it lasts. scott, good seeing you. the summer line, by the way, was brilliant, i must say. [laughter] that's what happens in the summer, it gets very hot. >> that's what it's called, yeah. neil: scott shellady joining us from london where i assume it's a little cooler. jeff bezos, you've probably heard of them. he has the wherewithal to build rockets, but what's getting the attention of regulators is all this other stuff that's enriching him. amazon goes into a deal, let's say like shipping or pharmaceuticals, and it's not only that it benefits his

stock -- a little less so today -- but it really wallops those guys. you know, washington loves to notice stuff like that. after this. ♪ ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage.

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capital one has partneredthing with hotels.com to give venture cardholders 10 miles on every dollar they spend at thousands of hotels. all you have to do is pay with this... at hotels.com/venture. 10 miles per dollar? that is incredible. brrrrr. i have the chills. because you're so excited? because ice is cold. and because of all those miles. obviously. what's in your wallet? i'm not sure. what's in your wallet? i mwell, what are youe to take care odoing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice.

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was now. toys r us officially closing its doors today. by the end of today, there won't be anymore toys r us. does this retailer come back? the retail analyst extraordinaire -- [inaudible] it's such an iconic name and symbol, i still can't believe it. any chance that this doesn't happen? >> neil, there's a very good chance that geoffrey the giraffe has levation and proverbial retail resurrection. the former ceo is getting the band of great executives back, simon wang with whom he worked, target, great merchant, ditto, toys r us. and to your point, neil, every other toy retailer in the world has liquidated. child world, kb toys, toys.com, fao schwartz. this was the death of all hope, and jerry storch has a requiem

for this retailer that we believe can be very successful because the bricks and mortar online toys r us business was $10 billion. they were only $1 billion online competing versus amazon, and target by comparison was less than $250 million. so, yes, toys r us can come back and with marriage rates increasing, family formation, birthrates, toys r us should be around -- in a smaller fashion, but should be there for the next 99 years of your great listen listeners and consumers and parents and caregivers worldwide. neil: there'll obviously be a gap here with the official closing of a lot of these stores, of all these stores today and whether they all band back and resurrect, it would have to be a very different company, right? now some have been able to adapt and change to the times. walmart's a good example with a big improving online presence to

compete with amazon, but that would almost be, toys r us would have to do now. if it hasn't done it before, what makes you think it could do it now? >> the difference, neil, is digital. what we're seeing in south korea throughout the asia-pacific region, the u.k., is the stores that digitize and make an experience for the consumers -- neil: what does that mean? when you say digitize, what do you do? >> so you work with leading suppliers, hasbro, mattel, lego, etc., to bring their movies, their properties inside the store so they're interacting for kids, parents, caregivers. and instead of just looking at a shelf packed out with product, you're look at an exciting environment for children that's digitized and better than anything he or she could do on an iphone. neil: that's very interesting. so you give them a shot at this. >> i give 'em a very good shot at coming back. i've spoken to a number of mall

owners who will completely pay for the buildout, the fitout, the remodel. the vendors will pay for the digitization. so normally in a liquidation it looks like the death of all hope, but toys r us, neil, could go from the worst of times to beside times -- to good times. and there's an important segway on heaven can wait in terms of retail. chris baldwin, who was scheduled to go for the priesthood and instead went into retail turning around retail and now bj's wholesale the most successful ipo in all of retail, great company doing good for consumers, low price leader to scott and deidre's point on gas, number one seller of american flags, patriotic products. and the leader in solar and renewables. so if investors, consumers, businesses want to go with a winner who's doing the right thing for the environment, it's chris baldwin, bob eddy, kevin moran for renewables and solars

with their solar partner, inner solar. and toys r us can do the same thing when they get a second shot and are well capitalized, because the ceo can bring in a hot of capable people that -- a lot of capable people that to what chris baldwin's done so capably throughout his career. neil: so it does have a prayer. >> yeah. definitely a prayer. neil: thank you very much. have a wonderful weekend. stay cool. >> thanks. neil: well, amazon, the big competitor that brought toys r us to this point, it's continuing very, very big plays in a whole variety of industries, health care, now package delivery services. to tech analyst gene munster on what all of this means. you know, gene, when it gets that big, i find it interesting that every time -- [audio difficulty] i just don't watch amazon stock, i watch the stocks of others in that sector, and i think it was yesterday those two sectors alone -- pharmaceutical and

shipping industries -- they lost more than $18 billion in market value just with amazon dipping its toes in their waters. what do you make of that? >> i think it's investors being smart because the reality is amazon has the wherewithal to really disrupt these other areas. and so i could see some of these stocks that pull back that $18 billion is going to be some form of a recovery, but i think the bigger picture is this: amazon has several driving factors but shipping and health care are two very core reasons. i want to quickly put those into perspective and why people who have owned some of these other stocks should be careful about competing with amazon. first is on the shipping side they're going to be making it easier to get items same day and same hour, and that's only about 500,000 items today are offered for prime now. i don't know if you've ever had the experience of being on prime now. you search for something, you can't find it on prime now, same day, so you switch over to

amazon, you're able to find it there. that is a gap in the number of skus. there's 325 million on amazon proper. so they need to ramp the number of products, and that's what these shipping partners do. and separately the health care, huge market, call it $3.3 trillion, 18% of u.s. gdp. and jeff bezos talks about owning the wallet. be this is a big part of the wallet he doesn't own today. so you can imagine how aggressive he's going to be in going after this segment. neil: do you think that this gets the attention of regulators though? that they can look at this and say, whoa, whoa, whoa, wait a minute? >> it'll get the attention of them, but there's really nothing that they can do. and the reason is that the standard for regulators, there's two standards typically. one is there a market share issue here. and if you look at commerce, amazon has about call it 15-18% of commerce in the u.s. they don't really have anything

in health care right now. they don't do much in terms of shipping, almost zero. so this market share standard is something that regulators can't really -- they're not even chose to violating anything on that. the second standard is, is the consumer better off. and i think most amazon users would argue that their life is better with amazon. and so, yes, this is going to get some attention. amazon will constantly be under a magnifying glass when it comes to regulators, but i think the standard of tripping any sort of regulatory measures, we're a long ways away from that, neil. neil: all right, we shall see. gene, always good having you, my friend, thank you. >> thank you, neil. neil: all right, gene munster. as gene and i were discussing things here, the little fallout we're getting from the president announcing -- or getting word from the white house that he's gown to have that supreme court pick -- going to have that supreme court court pick maybe a lot sooner than thought. he'll release it, we're told, in the next couple of weeks.

timetable is aggressive. now let's just see, is it doable? after this. ♪ ♪ benjamin franklin captured lightning in a bottle. over 260 years later as the nation's leader in energy storage we're ensuring americans have the energy they need, whenever they need it nextera energy.

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neil: all right, sooner rather than later. we knew the president was on an aggressive timetable to replace justice kennedy, now we're getting word maybe in the next two weeks and presumably from that list are, i think 25 individuals. so let's get the read with wisconsin's solicitor general, former kennedy law are clerk, by the way, moore shah -- i hope i'm pronouncing this right -- saitland? >> that's correct. thank you very much. neil: thank you very much for being with us, sir. do you think your old boss, justice kennedy, relayed the type of person he'd want for this job and whether that would influence the president in any way? as you know, justice kennedy emerged as sort of this mid figure, was very, very

consequential, swing figure. the president now wants just an only conservative figure. what do you think? what would justice kennedy have wanted? >> well, i'm obviously not privy to any conversation that the president would have had with justice kennedy. neil: sure. >> of course president trump's immediately prior appointment, justice neil gorsuch, was a former law clerk of justice kennedy -- neil: right. >> -- and i'm sure that that made justice kennedy personally happy. and so i know that certain other former law clerks are being considered among the list of 25 that the president has put out. and so i think those will be part of the consideration that the white house is currently going through. neil: you know, i wonder what happens -- sometimes you think you know who you appoint and that how he or she will emerge, sandra day o'connor was thought to be a very, very conservative pick. she had a lot of very surprising votes and decisions. the same with david souter who

george bush sr. was convinced was this conservative new hampshire judge who ruled quite the opposite and even justice kennedy himself who had a consequential role as ronald reagan's origin also-called conservative pick who early on quickly affirmed roe v. wade and, of course, was the swing vote on gay marriage. so what do you think of that and what happens and how is it telegraphed or is it not telegraphed at confirmation hearings? >> i think it shows that what's important to look at is not what a particular justice, potential justice will vote on a particular case, but what are their principles. do they have a commitment to interpreting the constitution according to its original public meaning. i think there's a little bit too much focus sometimes on how are they going to vote on abortion or how are they going to vote on, you know, same-sex marriage or something else. i think the key is to look into what is their judicial philosophy, because it's hard to know what will be the issue of

the day 10, 15 years down the line. neil: absolutely. and it's not as if in those hearings, you know, that pick is going to just spill the beans on a potential roe v. wade ruling or gay marriage issue if it comes up. @not that black and white -- it's not that black and white. having said that, do you think the timing of this means that it's going to be very hard for republicans and democrats to come together on it, that you might get a couple of democratic votes, but you might lose a couple of republican votes, it'll be that close? >> well, right. obviously, we're in a very difficult political climate, in a different kind of political climate. somebody as amazingly qualified as neil gorsuch should have gotten, you know, 60, 70, 80 votes, and unfortunately in today's climate these votes are often on a partisan basis. you know, when bill clinton

nominated ruth bader ginsburg and stephen breyer to be justices of the supreme court, they received overwhelming support from both sides of the aisle. and that's not because anyone was under any illusion that they would be necessarily centrist, but because they were essentially qualified. unfortunately, in more recent years it's become much more partisan. it's not focused on the qualifications so much of the justice. for if it were, it would be hard to come up with someone better qualified than someone like neil gorsuch. [inaudible conversations] neil: i'm sorry. they have the list, the 25 individuals, so i'd imagine that list has been pick apart, all sorts of details and files have been built on every individual name. so the attack lines and the attacks are already there as soon as that announcement is made, right? >> of course. and, of course, some of the people that are on the list were fairly recently confirmed --

neil: right. >> -- to the federal bench, so they have already gone through judiciary committee hearings. i think we saw some to have, i think, discriminatory questions that were asked of judge bare et when she was -- barrett when she was up before the senate judiciary committee. i know she's on the short list. and so some of these people are very recently vetted by the judiciary committee, some vetted years before. but i'm sure that the white house is carefully checking the whole list of 25 as they move towards selection. neil: all right, i think you were talking about the 7th u.s. circuit court of appeals judge, amy barrett, right? >> that's correct. she was recently confirmed, and she -- during the committee hearings some of the democrats asked her questions that implied that because she was a religious catholic, she couldn't do the job as a judge. and i think the public reaction to that, the backlash to that was quite appropriate. neil: yeah, i remember that. thank you very much. we'll know in the next couple of

weeks. all right. mean while, the whole issue of these court picks and how they enter into a midterm election and then mixed with a trade war, then what? how does it play out? mane less than you think. -- maybe less than you think. after this. ♪ ♪ so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way once-daily anoro contains two medicines called bronchodilators that work together to significantly improve lung function all day and all night. anoro is not for asthma. it contains a type of medicine that increases risk of death in people with asthma. the risk is unknown in copd. anoro won't replace rescue inhalers for sudden symptoms and should not be used more than once a day. tell your doctor if you have a heart condition, high blood pressure, glaucoma,

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♪ ♪ neil: all right, the rule of thumb in politics, especially in a midterm election year, is he or she who is enraged the most is more likely to vote the most. and if that is the case, is the rage more prominent on the left given ongoing loathing about president trump and everything he's doing even though on the economy things seem to be improving and in the markets? well, if today's any indication, continuing to be advancing. it really depends on when that group, the group that's satisfied with things, has the same zeal to go out and vote.

former bush speech writer annika green, independent women's forum senior fellow, patrice. what do you think? >> i think angst is going to play a huge role here. while the economy is doing well and people are feeling their economic position is better, you know, when it comes to some of those wedge issues around immigration on the left and on the right potentially if we can't get a supreme court nominee through, nominated and approved by the time the elections roll around, then that's going to give some people on the right motivation to say, hey, i want to insure that whomever the president nominates will finally get through and pass. and when we look back at 20 can 16 -- 2016, 27% of supporters voted for him because of his likelihood to nominate a supreme court justice. neil: you know, annika can, i don't think how the supreme court thing plays out. i think basic, you know, bread and butter issues win out. now, that doesn't necessarily end mean in a midterm election year if things are fined or

deemed to be fine those folks go out. they might be not inclined to vote, so the angrier voter does. how do you see it playing out? >> i think the most important thing is for republicans to pull another gorsuch, to get another justice nominated and confirmed. we know that mcconnell said the vote will be in the fall, it will be before the elections. i would guess that it would be in september. but with that as a second accomplishment under their belt, i think what republicans will benefit from is the trump voter feels that this entire time he's been in office that he's not gotten fair shake by the news media. and with the anticipated great opposition that whoever he nominates will encounter, that indignation may carry more people to the ballot box. neil: you know, patrice, you could look at this and then start saying another variable is a trade war and how that's going to affect average folks who go to the store and find out that some of their favorite items are

a lot more expensive because this has now gone way beyond steel and human -- aluminum. it's going to affect 800 plus items after all said is done, affecting everything from cherries and whipped ream to cars. so it -- cream to cars. so it will have a measurable impact if it goes to pass. what do you think? >> that's true. it just depends how quickly the slowing economy -- which unfortunately we saw just this week that the q1 economy slowed, you know, growth was less than expected. and so if some of the economic, the economists who predicted that, you know, because of the trade wars or the potential tit for tat back and forth is going to slow growth and lead to net job losses, then i think if it shows up by november or october, then people will begin to say, hey, wait a minute be, what are we doing about tariffs. i think the general understanding though is most people in their every day-to-day, they're not looking at the numbers like we are around q1 and q2, you know, economic growth. neil right. >> they're looking at how much are they paying in gas at the

pump, how much are they paying for their daily groceries. and until we see those effects come into play, thankfully, i don't think you're going to see as much of a backlash. and i'm hoping these tariffs are really just a tool and really don't end up triggering the kind of negative impacts they really could. neil: annika? >> i think the other point to make here is that republicans have a whole package they're going to be campaigning on. yes, the economy's very important and trump has set himself up by tying himself to the economy, but other republicans are going to be talking to their constituents and saying, hey, we're trying to help veterans, we're working on the opioid crisis, we have been deregulating, and the trump administration has been trumpeting they managed to get rid of 22 regulations and only passed one new one in their first year, and that also has an impact on the economy. neil: all right. ladies, thank you very much. as i was speaking, we are getting some word on these tariffs and what's happening. gm is worried saying the import tariffs risk isolating u.s.

businesses like gm. in terms of other companies, that it would isolate businesses like gm from the global market. that is just one of many concerns expressed by many like harley davidson that already said because of the approaching tariffs from the european union, for example, and fears that they were going to be put in place, it was already moving some jobs overseas. gm the latest to say we're worried too. more after this. ♪ a hotel can make or break a trip.

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neil: all right, this is a surprise, the booming economy's actually hurting truck drivers. jeff flock here to explain that, he's in south holland, illinois, with the latest. hey, jeff. >> reporter: well, it's hurting the industry in some ways, neil. i come to you from what is essentially a rolling classroom. what's hurting is the number of truck drivers out there. we've got a huge shortage partly because of the booming economy and partly because, well, truckers have been retiring. guys that have been driving all their lives, attrition right now. this is a company called 160 driving academy, and as the truck takes off, i'll tell you, it's not easy being a trucker, much less being a trucker's wife as garth brooks once wrote. this is 160 driving academy.

they train truckers, and right now their business is booming because of a need for truckers out there. i've got jose ochoa who is the coo of the company. you can't get enough drivers right now. >> we can't. and our partners can't get enough drivers, so we recruit on the internet, on the ground and find drivers wherever we can. >> reporter: yeah. take a look at part of the numbers, neil, and i think it sort of brings this into focus. expenditures for freight right now up about 17% year-over-year, and shipments up almost 12%. we're shipping more stuff, we have fewer drivers. that's driving the costs of a driver up. and, you know, that's not a bad thing. >> for the drivers themselves, no, not at all. the shippers, of course, struggle with that, but they're driving their shipping rates up as well. >> reporter: antonio hall, you were a trucker in another state, just came here, and you're a

recent graduate here in illinois. >> yes. i just recently graduated from 160 about a month and a half, two months ago, and i did have the driving experience for them. i did like the way that they ran their yard here, so i wanted to come aboard. [laughter] >> reporter: i only talked to you because you were stopped at a light. just so you know any safety concerns out there. and you see maybe out the window, trucking is just booming right now. partly because we've got a low, you know, unemployment rate, so you need truckers for that reason. gdp's up, manufacturing output is up. this is just a booming time in the economy which puts extra pressure on the freight market. >> yep, that's right. and also truckers, you know, baby boomers are leaving the industry, and it is harder and harder to get into the industry due to safety regulations and other things that drivers have to go through. >> reporter: gotcha. i'll just leave you with this, neil. and maybe, dutch, can you do?

this is, as i said, a rolling classroom, and maybe you're able to see. essentially, they've got seats back here. this is your first step. you learn from the backseat. this typically would be a sleeper cab, but they've converted into, essentially, a classroom. and you can see what it looks like. this is our producer, jason. i think he would like to become a trucker, actually. he's worked with me enough and is looking for other employment. and so there you go. as garth brooks said, you remember that song? it ain't easy being a trucker's wife? and i think it ends with the line, mama's in the graveyard, papa's in the pen. it's about a trucker who just spent too much time away from home. i don't know if you know that song. neil: it's a tough life, jeff, it's a tough life. >> reporter: almost as bad as a reporter. neil: jeff, thanks very much. my thanks to the guys. amazing. all right are, what's amazing as well is the fact that these tax

cuts are having a clear are impact on the economy. but when we're talking about the debt and we're talking about ignoring the debt -- and both parties have been and are -- that's another matter. this is the debt that's piled up under this president. and, you know, a lot of people don't notice this sort of stuff, but this next lady does. you know her as lizzie wicked macdonald. evening edit is the hit show. did you come up with that name? >> no. i think either brian jones or gary. >> it's a great name. [laughter] this debt, we always forget. this is something everyone bears. >> yeah, you're shul are right. it doubled under obama, we know that, and it's been loaded on even more. the problem right now with the debt is that in congress it continued to always be in a permanent sense of outrage, always governing by crisis, and, you know, i'm always thinking of that scene in moonsantorum when

cher slapped -- moonstruck when cher slapped nicolas cage and said, snap out of it. what they're spending on, you go down into the swamp, it continues to be quixotic and all over the map. we know about make america great again, but china, it's not just made in china 2025, they're doing their spend anything a very focused way. they're bringing back the silk road trade routes. it's called the belt and road initiative. they're trying to build out to connect to 80 countries, to do trade routes through 80 countries in the world, and what are we doing? we have obamacare exploding on the launch pad. it's so slipshod, the way we govern, do our debt. neil: and we don't really even attempt to slow the growth of it, right? >> yeah. neil: remember paul ryan got in all that trouble throwing granny off the cliff, and there wasn't the appetite even among republicans then. where's the appetite to address some of these other issues that are hitting just as baby boomers

are refire tiring by, what is it, 1,000 a day? >> yeah, it's such an important point because paul ryan had a good point, and that is we've got to rescue medicare. we've got to fix it. but when the other side of the aisle is saying, hey, wait a second, they're going to demagogue it and ruin his attempt to fix it, things are getting whipped through congress daily. there's a lot of pork barrel stuff going on, when the big picture things the size of jupiter are not being addressed. we always talk about growth, we also have to talk about the spending side of it and get it under control, because you're right -- neil: we never do. >> that crisis is coming down fast by 2030. neil: i had a democratic strategist here earlier who was saying how are we going to pay for the tax cuts, fine, not a word about how we're going to pay for the $10 trillion in spending that was in the same budget. >> yeah. neil: it's like that doesn't exist. >> right. yes. and i'm telling you time and again, and we see it right now in the socialists coming up in the democrat party, if any one

of their ideas would make it through congress, it would collapse the economy because they're so expensive. there's no government money tree, government fairy money tree that grows money. it comes out of our pockets, we have to pay the interest on it. so it's a learning curve still with the democrat party with what's coming up, and i'm not sure when we're going to hit a wall. we may not if the federal reserve decides to print money and buy the treasuries, that would crash the dollar, and then you wouldn't have a trade problem because our stuff would be cheaper. [laughter] neil: you're a debbie downer. [laughter] all right. the evening -- final edit. >> final edit. neil: thank you very much, lizzie. in case you were feeling okay, well, that's over with. we're up about 250 points on the dow. these worries not withstanding, always sort of like worrying about tomorrow, right? just not today. after this.

.

. neil: all right. this is the last day of the month. the last day of the quarter. last day of the half year, and been a pretty good report card thus far on the market. not nearly as strong as last year at this time. not all that shabby with a market that today is trying to make up for a lot of lost ground. won't make it all up certainly for the month or the quarter. we're going to be exploring this entire phenomenon when we're live in this fine city at 10:00 a.m. eastern time for a very, very special cavuto live, it will take us to noon, this

massive immigration rally going on in washington. we'll have the house judiciary chair bob goodlatte on the immigration battle that failed on the part of republicans and mark janus, the supreme court ruling in his favor saying if you are part of the union, you don't want to be and paying union fees, you know what happened. and he became the center of that storm. we'll see him tomorrow. trish regan now. trish: the news never stops and neil cavuto never stops. looking forward to it. see you tomorrow on the show at 10:00 a.m. breaking right now everyone, a nice rally going on, up 244 points, investors look to end the quarter on a high note. this is despite all the reports that the president will consider pulling out of the wto. i'm trish regan. welcome, everyone, to "the intelligence report." moments ago, the president touting the strength of the u.s. economy just six months after his historic tax cuts.