the dow ended up higher by almost 118 points. we will see what happens with china. melissa: we will go work on our valentine's day gifts. in the meantime, "bulls & bears" starts right now. davi >> i see it as aspirational. i see it as a jump start. i would vote yes but if it got down to actual legislation as opposed to here are some goals we have, that would be different. >> why not create a moonshot? why not say in the next ten years we are going to create a green economy? david: more 2020 democrat hopefuls now backing the green new deal, the sweeping environmental and economic resolution co-sponsored by freshman democrat alexandria ocasio-cortez. the plan has faced widespread criticism over its costs and demands not just from republicans but also from

moderate democrats. here's what former starbucks ceo and potential independent presidential candidate howard schultz had to say about it. >> when i read the green new deal, and i try and understand what they're suggesting, i don't understand how you are going to give a job for everybody, how you're going to give free college to everybody, how you're going to create clean energy throughout the country in every building of the land. it's immoral to suggest that we can tally up 20, 30, 40, $50 trillion of debt to solve a problem that could be solved in a different way. david: joining me on the panel to weigh in on this and more, carol roth, jack howe, scott martin and steve ford. howard schultz says this green new deal is impractical. he actually says it's immoral. what do you think? >> i think he's on to something. i think that's why i'm glad he's in the race. i don't agree with him on most positions, but i think his influence is going to be calling out the democrats on their

fantasy land proposals. for example, getting across the atlantic ocean without airplanes. you can have a bridge across the atlantic ocean. you going to have a tunnel? how about tectonic shifts and little things like that? they are against cows. flatulence doesn't come from cows, it comes from these people. enough already. >> instead of a green new deal, i like a new green deal. something with smaller government, less spending, getting the government out of the free market so we can all keep more green in our pocket. i think that that is what is moral, basically what is being proposed here is a complete pipe dream. it reminds me of a kid who is running for class president says you know what, we are going to put a hot tub in the cafeteria and everyone is going to get a new sports car. it's just absolutely something that shouldn't even be taken seriously. >> it's a little pie in the sky, right? doesn't seem fully baked yet. the administration came out with their long-term outlook on what's going on. they see rapid uptake in solar

over the next few decades and lower carbon intensity in things like transportation. that's not from policy. that's just what's already happening in the free market economy. i think if you get somewhere in between there and this pie in the sky stuff, there's probably a workable solution, right? >> maybe, jack, but the only green i see going on here, guys, is the green i think the democrats are smoking when they come up with these crazy ideas. i love the word that howard schultz used, immoral. because this is not only immoral from the debt it's going to rack up, from the fact they can't explain how they're going to pay for it, but this whole idea of how we are just going to give you money, mr. and mrs. smith, to live on, and we will give you this job that's going to be from the government, and all these promises that down the road that say capitalism is going to destroy you, but the government's socialism is going to save you. that's immoral because those are lies. capitalism is going to lift up the very people that they're trying to help. david: again, the concept of people who say, the democrats who say we're in favor of the

concept, we're in favor of the general principles, it's the details that have to be worked out but the concept includes things like economic security for those who are unable or unwilling to work. i mean, you get money even if you do nothing. >> don't you think on the environment, don't you think republicans should put together something? i think if you do nothing, you run a risk of ending up with a full-blown lefty plan, right? i don't think it's great news when you see trump saying well, it snowed yesterday so there's no such thing as climate change. you could put together something that has conservative values to head something like this off. could you not? >> you could, but at the same time, you are throwing in work, you are throwing in a bunch of economic policies. what does that have to do with the environment? what kind of a green deal is that other than, as you said, the green you are smoking or the green coming out of all of our pockets. >> the whole thing wrecks the economic environment. that's why it's immoral. it hurts the very people who need economic growth the most. you're not going to get jobs, not going to get investment, so

people who want to move up as lincoln put it, improve their lot in life, are going to be left behind. in the name of helping people, look at venezuela. they're going to destroy them. they've got to be called out on it and say oh, it's as sprayi s aspirational, it's just general ideas. where are the details? the answer is they don't have them because they're embarrassed by it. it's a shame the democrat party has gone along with this thing from i guess she's still in high school mentally -- >> oh, no. she just got fired from the bar job. that's why she's doing politics. >> no, no, no. >> in that respect, she shows the virtue of american capitalism. you can go from bartending to public service. i like that part of it. i just wish she would realize the system that makes her rise possible. >> stop pulling aoc's pigtails here. i like my lefties to sound like lefties. i like competition of ideas.

she's got some ideas. i'm not in love with what they're putting together with this green new deal. >> she doesn't sound like a lefty. she sounds like a marxist. it's absolutely insane. >> what do you have against cows? >> she didn't even bring up anything that's realistic. she didn't bring up china. she didn't bring up nuclear energy. anything that's really going to make an impact on the environment was left out. david: i beg to differ. she does bring up or the green deal does bring up nuclear energy. they're against it. they don't want any nuclear energy. >> they bring it up in the wrong way. david: the point is, to jack's point, look, there's nothing wrong with clean water and clean air and cleaning the environment. we all like to breathe clean stuff. the point is, this is much more than that. this is the green agenda as we found out with the so-called greens in europe, it's much more than environmental. this is an economic policy prescription for socialism. yeah. >> david, look at what happens to companies, guys, that pollute. remember the bp oil spill? other oil companies that have destroyed the environment?

those companies eventually take hits, they change their process, they change their procedure, they change their stripes. let the free market decide this. why does the government have to come in and try to fix all these problems, when companies typically fix them on their own? >> and when the epa, remember that scandal, when they had all that sludge at that mine they had covered up? government covers things up in the marketplace. it's out there for people to see. >> i don't think it's a bad idea to be proactive. certainly we would rather get ahead of these things than be behind them. but it has to be common-sensical. it has to make sense in terms of the realm of the world and who is doing the most polluting and it has to be something we can actually pay for that won't bankrupt the country. david: let's look at natural gas. natural gas is something that was developed through the free market, fracking has led to a much cleaner environment than we had before.

sometimes the market does provide the answers, right? >> 99% of the time, it provides the answers. when it doesn't, it's because government is interfering. >> we have plenty of natural gas that we can use to fund the energy needs. >> i could see republicans getting a little more active on the environment or climate change just because they see something like this coming, they want to do something. everybody talks to me about trump, he's the change agent. don't worry, when he talks crazy, because he shakes things up and makes things happen that wouldn't otherwise. maybe aoc is a change agent, too, no? david: what do we end up with as a result? we clearly had a change -- >> the soviet union was a great model. david: what do we end up with in 2020? what happens in 2020? does this have legs? does it stay around until then, if democrats take over the white house, for example, or the senate? what happens then? >> then we are going to have a disaster on our hands and one of the best things going for donald trump right now in terms of the

electoral prospects is democrats have to run somebody against him. when you look at the choice, it's not going to be a very pleasant one. the democrats are going to nominate somebody who is the most anti-trump, most on the far left which is going to repulse most middle class voters. >> that being said, if you want to get the young voters, millenials, who will potentially be coming up to vote, you have to make the environment a priority. even if you don't think it is the biggest priority, you have to understand that that's something that is important and i agree with jack. i think putting something out there that makes sense, maybe it's tied into what's going on with this china trade deal, maybe it's getting tough on them, but at least saying that it's something we hear you, we feel like it's important and we are going to take that into consideration. >> don't put it in writing until the details are -- read it over before you publish the thing. david: is there a free market, is there some kind of merger between the free market and environmentalism we could work at? >> you don't get a good

environment without a free market. that creates the resources to clean up the water, clean up the air, clean the land that's been polluted in the past. there are things that can be done. remember we were worried about the ozone layer? there's an amendment out there originally put in by reagan, needs to be updated. the administration can get behind something like that, ratifying that. so there are practical proposals out there. but they actually get real things done. david: it's not for nothing that the biggest polluter i think it's fair to say in the world right now is a communist country, china. when the government takes over to the extent that this new green deal wants the government to take over, you end up with a dirtier environment, not a cleaner one. am i crazy on that? >> nobody checks them on it. nobody checks them on it. that's the other thing. if we take over some of these policies from jack's girl aoc, there's nobody that's going to check them on it. that's the other thing millenials ought to be worried about. the older voters, fine, maybe

they don't care if aoc's green new deal goes into effect because in 20 years, whatever, maybe they won't care. if you are a millenial living on this planet for 50 years after she's got some power, that's a scary thought if it were me. david: last word from our man in chicago who wishes there were a little more global warming. >> it's freezing, by the way. david: exactly. our national debt hitting a brand new milestone today. how concerned should we be about that? we'll debate it, next. ♪ as someone in witness protection,

i can't tell you anything about myself. but believe me... i'm not your average consumer. that's why i switched to liberty mutual. they customized my car insurance, so i only pay for what i need. and as a man... uh... or a woman... with very specific needs that i can't tell you about- say cheese. mr. landry? oh no. hi mr. landry! liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ our grandparents checked zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today.

to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth. ♪ ♪ it's the most wonderful life on earth. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget.

beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. willy davis, who has alzheimer's. i decided to make shirts for the walk with custom ink. the shirts were so easy to design on the site. the custom ink team was super helpful and they just came out perfect. seeing my family wearing my shirts was such an amazing reminder of all the love and support that everyone has for my dad. - [narrator] check out our huge selection of custom t-shirts and more, for teams, businesses, and every occasion. you'll even get free shipping. get started today at customink.com. david: our national debt, the total of annual budget deficits is reaching a new milestone, topping $22 trillion for the first time in our nation's history. so how concerned should we be

about the impact of this? what do you think? >> well, david, look, this is not a pretty number. i'm not going to sugar-coat it. you just put up the debt clock and the numbers other than being fun to watch, are scary. but nobody's going to stop buying our u.s. debt here. we are the world's biggest spender, for now the world's biggest economy, and we are the world's reserve currency so there's a demand for our debt out there. people don't want to stop lending to us that we stop our economic activity. yes, i do believe the democrats and republicans need to get some of this spending under wraps but to be concerned about a number as far as $22 trillion to say okay, this is it, kids, the party's over, i don't think so. >> short-term, this is definitely not a crisis. we are going to borrow $1 trillion over the next year, we will pay less than 3% interest on that money. i can't even borrow $1 million at 3%. i asked steve earlier, he turned me down. so the fact -- >> i asked for two, jack. >> you misheard me. 3% a week.

>> now long-term, we are already past the point, we're not paying this money back. come on. we are going in a hole for a trillion dollars a year, we will have to inflate this debt away over the long term. right now inflation remains low. so are rates. >> there is some bad news coming up today. u.s. tax revenues for the calendar year 2018, not the fiscal year but the calendar year, actually fell and the deficit's widening. so with that, and the fact that we are hitting this milestone, steve, don't you think that's going to be blamed on trump and potentially an issue that will affect the ability to do further tax cuts and maybe even get some tax hikes? >> the reason the economy did as well as it did last year was because of the tax cuts and deregulation. what happened last year as the year went on, we had a tax increase. it was called tariffs. tariffs are sales taxes. wasn't just the amount itself, the uncertainty it created about investment which by the fourth quarter went down a little bit

in terms of growth. i think that issue is going to be resolved in the next couple of months. we already see good signs of that already. when these trade issues are out of the way, you are going to see investment, you are going to see growth resume its way again and the revenues go up. by the way, even if the government doesn't get as much money, i say so what? it's the welfare of the american people that counts. people's salaries are going up, opportunities are going up. washington, tighten your belt. >> they are going to pay for themselves, i will believe it when i see it. i will tell you one thing for sure. if you want to get some kind of multiplier effect on the economy, you put more money in the hands of the poor. the poor spend everything they get their hands on. it's almost the definition of being poor. these tax cuts were too tilted to the rich and that's why you are not getting the big multiplier effects. >> if you don't have investment, you don't get economic growth. so the poor are hurt the most on

that. that's why in terms of a tax cut round two, when we eventually get one, should be on the personal side, including payroll tax cuts. so the flat tax payroll tax cuts, i've got a program for that, david. flat tax. >> jack, you need high wealth individuals, high corporations, to create jobs and have job training, too. that's the other thing that helps lift up the poor, these corporations put the jobs out, they have job training that helps them. the other thing, too, the tax cuts can be paid for but you have to have regulation rollback, you have to have a business environment that they want to operate in. you can't do this hey, you didn't build that type of thing and then they don't want to open up their business. >> we are doing well on jobs. unemployment is at historic lows. what we are not doing well at at all is the unbelievably wide gap between the haves and have-nots. it's getting wider. we ought to do something about it. >> let's go back to debt for a second and talk about the interest we are paying.

we are in a very low interest rate environment. we are paying something like half a trillion dollars in interest on the national debt. that's for stuff we already bought before. in nine years it's projected to be $1 trillion. we can't afford to do that. we are spending more on that potentially than we are spending on our military. that has to be brought under control because that's not where we want our tax dollars to go. >> raising taxes is not the way you will solve it. you will just get what europe has and what japan has done and what greece has done. so we get economic growth, little bit of spending restraint and positive entitlement reform. >> a lot of spending restraint. we have to have a lot of spending restraint so that we can stop the bleeding. >> the amazing thing is with a sound dollar you get 4% growth, by golly, over time, that is a miracle in terms of compound revenue growth. >> we saw it in the '80s. david: the debt doubled under george bush, doubled under

president obama. if it doubles this time, it's going to be $40 trillion in six years. i don't think we can afford that. moving on, president trump's new north american trade deal just hit a democrat roadblock on capitol hill. could we be stuck with the old nafta after all is said and done? ♪ >> we're replacing nafta with a brand new u.s. mexico canada agreement that everybody is loving. got to get congress to approve it. there's such obstruction in congress, they won't even do things that are good for our country now. i hear it in the background and she's watching too, saying

[indistinct conversation] [friend] i've never seen that before. ♪ ♪ i have... ♪

david: after months of hammering out a trade deal with mexicans and canadians, democrats led by nancy pelosi are now insisting on new rules that would, among other things, quote ensure mexico enforces environmental protections and allows its workers to form unions freely. the rift could delay or even

block a congressional vote, so what happens if the new trade deal never gets passed? >> unfortunately, we go back to the old deal and we end up in the middle of a political hostage taking situation. this is completely insane. the fact that they're talking about mexican labor unions and the ability to organize into unions, what does that have to do with free trade? if you are in congress, you are supposed to be representing the american people. this deal is better than the original nafta so pass it, move on, let us move forward with our allies and do all the great things that we need to do, but we don't need more political theater and political hostage taking. >> this just shows the democrats' hypocrisy. the white house worked very closely with anti-free trade senators like sherrod brown to get a deal that would pass muster with them, then they pulled the rug out from under him. so two things. one is we go back to the old nafta, that's fine, we can live with that very easily, but the uncertainty it's going to create for business investment when you don't know what the rules are

going to be could be very harmful to all countries. i think president trump eventually is going to have to do a national address and lay it out and say put pressure on congress and you will get enough democrats to go along with it. >> i came from a state, ohio, that got eviscerated by nafta. there's a lot of folks back there in springfield where i holler from that would not want that. i'll tell you, the numbers are just striking. the fact that we are buying over 70% of mexican and canadian import -- exports, rather, and they can't even equalize those things to any degree, is the fact we have to scrap nafta and better get something passed in a different way. >> trump, what do we call this again? david: usmca. like united states marine corps with an a at the end. >> trump has minor tweaks to nafta. they are not that much different. i agree with steve totally. we don't want businesses being uncerta uncertain. businesses can do well under either of these trade pacts. we don't want this thing dragging out where they have to delay investment. david: what about these new

rules? mexico, i covered latin america. i know mexico well. they have plenty of rules. they have many more rules than we do. but they never play by the rules. they are always violating them. they have a word for bribe. everything is done by bribe. to do what the democrats want to do, even if it was a noble intention, is not going to get done. >> they are playing the game of imperialism. we've got to do it our way or we will tell you to get lost. so this is a form of imperialism. the president should call them out on it. if you want to reform mexico, go do some missionary work. >> it took us a long time to get this deal done. can you imagine having to go back to our negotiating partners and go just kidding, we're so messed up here, we can't figure this out. if you want to build upon it, if you want to go back once we're in this agreement and say hey, we've got some other ideas and things we can do together, then fine, go ahead and do that. but to say that we are going to

just completely throw this away and all the work that's been done, again, it's political theater. >> do we really believe we are not getting a good enough deal from mexico on trade? look at the u.s. car industry. it's the healthiest it has been in decades. we are doing plenty of work in mexico but it's helping us stay competitive. look at the economy in the u.s. versus the economy in mexico. >> yeah, but they're not making the cars here. we are buying 70% plus of mexican exports. >> so what? so what? >> use that, then. use that as a way to get them to come to the table for a good deal, unlike what we have right now. equalize it. >> what's the bad deal now? >> they should be buying more of our stuff. >> if we don't offer them stuff they can afford or want, why should they be forced to buy it? what's this focus on they have to buy from us if we buy from them? >> where were you six months ago? when we were negotiating this? >> why didn't you read adam schmidt? he lays it all out. >> totally unequal, though.

david: go ahead, scott. >> i was just going to say it's totally unequal, like when trump talks about mexico paying for the wall, you have to work something out on the trade side to make sure there's equilibrium on the fact we buy so much canadian and mexican exports, they don't buy our stuff or very rarely. we have to equalize that. >> i buy more from mcdonald's than they buy from me. >> they're a trading partner. >> outrageous. david: one thing i think we can all agree on, without any clear rules, without any kind of definition of a trade policy, a lot of businesses are throwing up their hands. they're not going to know what to do. meanwhile, billionaire bill gates says he doesn't deserve his billions. nobody does, actually, from his point of view. what he says would be a better use for all that wealth. ♪ s tell only half the story? at t. rowe price, hundreds of our experts go beyond the

numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. the first-of-its-kind lexus ux and ux f sport, with the latest safety system standard, best-in-class turn radius and best-in-class mpg. experience amazing at your lexus dealer. i saw my leg did not look right. i landed. i was just finishing a ride. i felt this awful pain in my chest. i had a pe blood clot in my lung. i was scared. i had a dvt blood clot. having one really puts you in danger of having another. my doctor and i chose xarelto®. xarelto®. to help keep me protected. xarelto® is a latest-generation blood thinner that's...

proven to treat and reduce the risk of dvt or pe blood clots from happening again. in clinical studies, almost 98% of patients on xarelto® did not experience another dvt or pe. xarelto® works differently. warfarin interferes with at least 6 of your body's natural blood-clotting factors. xarelto® is selective, targeting just one critical factor. don't stop taking xarelto® without talking to your doctor, as this may increase risk of blood clots. while taking, you may bruise more easily, or take longer for bleeding to stop. xarelto® can cause serious, and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all planned medical or dental procedures and any kidney or liver problems. learn all you can... to help protect yourself from another dvt or pe. talk to your doctor about xarelto®. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems.

to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. ♪ ♪ ♪ ♪ what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work.

david: microsoft founder bill gates says he doesn't deserve his wealth. in a statement to the "daily mail" the billionaire says in part, quote, i paid more than $10 billion in taxes but i should have paid more. i have more than followed the law but i think things should be more progressive. i don't deserve my fortune. nobody does. rush limbaugh thinks he knows why bill gates and other rich liberals say they are undertaxed. take a listen. >> why do they do this? because it keeps the people from -- with pitchforks away from them. you don't see them giving it away. some of them put it in foundations but you don't see them, when they say they're not paying enough taxes, you never see them write additional checks to the government, do you. bill gates worth about $96.5 billion and he says he and other business barons should have to

contribute more taxes. there's nothing stopping you from writing a check to the treasury. david: that's the truth. well, is there something wrong with being rich, gang? >> david, as my father liked to say, money may not buy happiness but it sure helps. in the case of bill gates, his money's not lying around in the backyard. it's being put to work. it's being invested everywhere or being used to fight diseases in africa and elsewhere. what is wrong with that? i would rather have bill gates handling money, his money, and even my money, rather than nancy pelosi or congressman ocasio-cortez. thank you very much. that's how you get growth, people investing, government takes resources, it doesn't create resources. >> this is not an ooieither/or choice. to say bill gates isn't doing good things with his money is ridiculous. nobody on planet earth is doing better things with their money than bill gates. this is not an either/or choice. if you think the playing field is a little too tilted in favor

of the rich right now, that means you are against anyone getting rich. you could be for getting rich but just want a little more evenness out there. >> how sad is it that we are demonizing success? it's not like he got this money because he was doing something bad or illegal. he earned this money. so of course he deserves it. we used to look up to people like bill gates and say that's what i want to aspire to be, that is the american dream. the fact that this is getting demonized is so sad to me. >> just shows what happens when you have a generation without growth. we are just beginning to get growth. you get envy. most americans don't care if bill gates is worth $96 billion or $960 trillion. they want to know are there opportunities in life improving, are their wages going up, will they have chances for better jobs themselves, better future for their kids. that's what americans want. not redistribution. >> the problem though is the kind that actually have the money, to carol's point, yes, wealth does get demonized but the guy who has the money is kind of demonizing it, his own wealth. that's the message he's giving

to the kids, quote unquote, to be like hey, you know what, maybe being this rich isn't that great and i don't deserve it and i didn't do enough to get it. that's kind of a bad message on that team to give out to people who are trying to be successful. >> that's why they invented psychiatrists. >> it is completely -- >> i'm sure he's got plenty of them. >> it's completely dishonest. as was said earlier, if he wanted to, he could write a gift check to the united states. when he is leaving his wealth behind or warren buffett or all these other people who continually complain about it, they're not leaving to it the federal government. they are leaving it to foundations for other causes because they know the u.s. government is a horrible steward of capital so of course they want it to go some place will it will be more effective than the government. i wish they would just come out and say the truth or show some leadership on this issue by writing a check. >> this is like one of those neglected puppy commercials. instead of sticking up for the puppy, we are sticking up for the poor billionaires out there.

>> we are speaking up for individual rights. we are not sticking up for the billionaires. david: we are sticking up for prosperity. prosperity comes from investing. >> wouldn't you say the deal has shifted in favor of the rich? >> what deal? >> what deal? >> what deal? >> yeah, what deal? >> the tax cuts that disproportionately lowered the tax burden of the rich more so than the poor. >> that's because it affected the rich beforehand. >> let's get some statistics. when we have a 70% tax rate, the top 1% paid 18% of the income taxes in this country. the rate's half of that now. they pay 40%. hello. what don't they get? >> if you are going to do something to prevent people from making $1 billion, what do you do? does the government take all that money, and what good would the government do with it that individual billionaires couldn't do with it? >> make a billion, make ten billion. give it away. >> to who? to who? >> they demonize the

millionaires. then the multi-millionaires. then the middle class. this is the way to make it acceptable. if you think that it doesn't apply to you, because you are not making that much money, eventually they are going to come for your money. david: won't you please give to a billionaire out there. why don't the billionaires give to the federal government if they think they are not getting taxed enough? they're not doing it. i don't see warren buffett writing a billion dollar check to the government. do you? >> no. i don't see him doing that. >> they are creating jobs. they are putting liquidity into the system. that's going to bolster companies that create jobs. it's not like they are scrooge mcduck sitting around the living room. >> billionaires are paying too much right now or do you think we have it just right? >> we have a tax system that wastes resources. last 20 years, we spent hundreds of billions of dollars complying with this idiot code. imagine if those resources had been used for more devices, more medical devices, more cures for

diseases, more new services or products. simplify the code and we all come out better. >> exactly. >> that's what we need to do. >> you want everybody to be better. >> except this redistribution mentality we have today, are they paying too much or too little. everyone should pay less and the government would collect more from the prosperity resulting thereof. david: from the man who knows more about rich people than anybody that i know. steve forbes, thank you very much. california govern gavin newsom slamming the brakes on his high speed train plan. do you think the green folks noticed this? details coming next. ♪

whooo! want to take your next vacation to new heights? tripadvisor now lets you book over a hundred thousand tours, attractions, and experiences in destinations around the world! like new york! from bus tours, to breathtaking adventures, tripadvisor makes it easy to find and book amazing things to do. and you can cancel most bookings up to 24 hours in advance for a full refund. so you can make your next trip... monumental! read reviews check hotel prices book things to do

tripadvisor this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today.

in honor of my dad, who was alzheimer's. i decided to make shirts for the walk with custom ink, and they just came out perfect. - [announcer] check out our huge selection of custom apparel for every occasion. you'll even get free shipping. get started today at customink.com.

david: california's new governor gavin newsom scrapping plans for a $77 billion high speed rail from los angeles to san francisco. hillary vaughn has the latest on this. reporter: taxpayer were promised a train that would travel so fast between los angeles and san francisco it would replace shuttle flights and give people the ability to commute to and from those cities on a daily basis, but that was just a pipe dream, apparently, and the $77 billion high speed rail project is being stopped in its tracks. >> the current project as planned would cost too much and respectfully take too long. there's been too little

oversight and not enough transparency. right now, there's simply not a path to get from sacramento to san diego, let alone from san francisco to l.a. i wish there were. reporter: the billion dollar budget for the project has become the runaway train. governor newsom admits the cost to finish the product could reach nearly $100 billion. californians will get about 10% of the project that was promised. a high speed route between two towns in the heart of the central valley, bakersfield to merced, a stretch of farming and oil communities. local representatives from the valley where top industries are farming, agriculture and oil, are laughing at the new tracks because they don't think there's anyone to buy a ticket to ride it. the state senator saying quote, we are going to put more billions in a train in a place where there's no ridership, no freight to be hauled. what economy is that going to improve in the central valley?

i was raised there. i farmed there. it is not the answer for the valley but still, governor newsom promises he's not completely ditching the idea of a high speed rail project, saying he will still try to push for private funding for the rest of the track but will see if anyone is jumping at the opportunity to pick up that $100 billion price tag. back to you guys. david: let the market decide. hillary, thank you very much. so gang, just as the green deal's pushing these high speed rail trains all over the country, california realizes it's a boondoggle. what do you make of this? >> yeah, it feels like we are trying to run before we can walk here. something similar was going to happen in illinois recently, last few years, with milwaukee, madison and chicago. that failed because i think we are looking past kind of the near-term problems. that's our own inner city infrastructure, whether it's the roads and bridges in places like chicago which i drive over and get flat tires on daily, or at least during the year, or it's houston, dallas, other areas that are expanding that need kind of that infrastructure internal buildout.

as hillary pointed out, you don't need this long train line that looks great on a teeshirt between two big cities in california. you need more short rail type stuff. that's why we should look at those things first, then maybe expand in the longer term. >> yeah. this reminds me of that "simpsons" episode about the monorail where the conman convinced them to spend all their money on this monorail that ended up being an epic failure. we all knew this was going to happen. the reality is the government screws up everything that it touches and it doesn't matter if it's the federal government or the local government. we all knew this was going to be an epic disaster, it was going to be something that comes in over budget. this shouldn't be a surprise and i think it should be a warning, a big red neon sign for anybody who thinks the green new deal is at all potentially realistic. >> the fact of the matter is, i love when the governor said let's be real about this. i wish he would take that attitude towards single payer health care, which he seems to be pushing in california.

>> there's something to be said for backing out of this thing before it becomes a bigger disaster. so credit goes there. but i haven't really seen the example of the big successful high speed rail project in america that people keep talking about. i guess like scott says, we're just not there yet. david: but this was the actual point of the green deal's talk about getting rid of planes. we won't need planes because we will have high speed rail. i mean, does past experience mean anything to people that are involved in u.s. policy? >> let's look at the facts. high speed rail is an improvement on 19th century technology with railroads. so they are still having 19th century attitude on that. they have a 15th century attitude on energy, windmills, great for holland back then. and airplanes, that's new so you can't have that. if we got rocket ships they would be against that, too. i'm surprised they haven't proposed bringing back horses because we know that's a pollution problem, too. >> that's right. >> i have some horses i would like to bring back. david, i think it also speaks to

the fact they don't understand american culture. again, right, wrong or indifferent, i don't know a lot of people that want to take a high speed train to madison or take a high speed train along the coast of california. when somebody is driving or going say over 100 miles, 200 miles, they are driving. that's what americans do. that's what we are used to. if they want to change the culture of america, that's going to take a lot longer than ten years to do so. >> i think it's a culture issue because it just hasn't worked, and i think that this is an opportunity again for private enterprise to get involved. if you look at elon musk and what he's doing with trying to figure out if there is a way to dig tunnels or do something. we don't know if that's going to work but at least it's not on the taxpayers' dime. david: by golly, in terms of the rails, what gets overlooked is we have the best rail system in the world when it comes to freight. better than europe, better than china. that's our strength. play to our strength. they want high speed rails that lose money, inefficient, fine. let them waste the money. >> i think a low speed train

from westchester county into grand central, could i get a little wifi on the train? if you want to do a new green whatever, give me a little wifi. this is america, right? it is 2019 last time i checked? david: there is positive news. at least they are getting off of this boondoggle. jerry brown, the previous governor, seemed to have no end to the amount of money he would spend for this. >> thankfully it ain't going to be built. >> they keep trying. david: it's not just the rich. 2020 democrat presidential candidate cory booker is now also targeting meat lovers. is this a mistake? we debate that, next. ♪ all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. ..

are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. our grandparents checked zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today. with expedia, i saved when i added a hotel to our flight. so even when she grows up, she'll never outgrow the memory of our adventure. unlock savings when you add select hotels to your existing trip. only with expedia.

to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth. ♪ ♪ it's the most wonderful life on earth. ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3 ♪ trelegy 1-2-3 trelegy

with trelegy and the power of 1-2-3, i'm breathing better. trelegy works 3 ways to... ...open airways,... ...keep them open... ...and reduce inflammation... ...for 24 hours of better breathing. trelegy won't replace a rescue inhaler for sudden breathing problems. trelegy is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling,.. ...problems urinating, vision changes, or eye pain occur. think your copd medicine is doing enough? maybe you should think again. ask your doctor about once-daily trelegy and the power of 1-2-3. ♪ trelegy 1-2-3 save at trelegy.com. david: 2020 presidential candidate cory booker and vegan

has a beef with meat eaters. he says this planet simply can't sustain billions of people consuming industrial produced animal agriculture because of an environmental impact. how far is candidate booker going to push his anti-beef policy. there is less than meets the eye on his candidacy. >> did you say a minute ago there is a publication called veg news? i like to look for any opportunity i can to oppose you guys. but i'm not going to eat tofu to do it.

>> leave bird seed for the birds. >> they will have to try the burger with bacon out of my cold dead hand. animals eat each other in nature. we are at the top of the food change. we want our burgers. >> this is cory booker trying to tell people how they should live. the government like to steve's point, it disappears like the food on my plate, it's him talking to people like he knows better than they do. if you want to have breakfast with the government, vote for cory booker. >> at least give him credit that he wasn't chicken in taking on this issue. >> the ethical stuff he raises is fine. we have more choices than we had when i was a kid. you can buy grass fed or cage

free. first of all, if eating meat, if killing animals to eat them is not ethical. what about killing all that asparagus. >> there are plant-based substitutes coming on the market. i'm sure some people will eat them and like them and we'll let the market choose. but at the end of the day this market is choosing a big burger. >> what he's going to call the bully pulpit? is he going to call it the vegan pulpit? david: he's saying one of the problems with loving meat and having a meat economy is we are running out of space. we don't have ranches enough for all the meat that need to be produced. >> and they are talking about solar industry and wind mills? the cows occupy 1/50th of what

they want to do with wind mills. david: i love venison for one thing. there are enough deer out on the road, just road kill to feed a small army. if he's running out of space, why not pick up the road kill. you have ted turn more has his buffalo farms. there are plenty of spaces. >> i'm no veg news subscriber. >> i feel like there is future collaboration. >> she is joking. >> that was a joke. david: 95% of americans meat eaters, is he going to have to backtrack on this one, steve? >> he'll have to eat a big mac to show he's not going to do this.

>> the government is not coming for your burgers. >> that does it for bulls and bears. thank you for watching. we'll see you back here next time. >> i would also like to address an urgent and growing threat that impacts the safety, security and well-being of every american family aren't crisis on our southern border. so much crime comes into our southern border. >> it's a compromise. that's what legislators do. i had confidence if left to their own devices they would get the job done. >> it's a big wall, a strong wall, a wall people aren't going through very easily. they would have to be in very good shape to get over this one. when these laws