tv Bulls Bears FOX Business February 19, 2019 5:00pm-6:00pm EST
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dodge a bullet for whatever it is worth. melissa: you just jinxed us. it snowed in las vegas. connell: weird. melissa: that does it for us. connell: thank you for joining us, bulls and bears starts right now. >> feel the burn a big name entering 20 within -- 2020 race, bernie sanders announcing he the run against for president. >> i'm going to run for president, that is correct. >> what is going to be different this time? >> i'm going to win. >> this is bulls and bears. joining me. bernie sanders is self proclaimed democratic socialist making his big announcement a day after president trump gave a speech, slamming socialism, saying it promises prosperity but delivers poverty. sanders takes credit for the democrats new push to the
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progressive left. >> you may recall in 2016, many of the ideas that i talked about, medicare for all, raising minimum wage to $15 an hour, making public colleges and universities tuition-free, all those ideas people say, they are radical, they are extreme. the american people won't accept them. you know what happened in over 3 years, all of those and more are part of the political mainstream. >> you say the party came your way? >> well, i don't want to say that, i think most people would say that. >> he is right, if he is elected, what would a sanders presidency mean for u.s. economy? >> you know, i think of a fresh face with new ideas, i'm thinking ber bernie sanders alle way. socialism is challenge, it something that would be a big threat to our future, and our
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economy. but i don't believe that anyone is goto vote for bernie sanders, he is not even qualified to be head of my condo association let alone heading up country, he has been in government for a really long time, he has not made an impact. and socialist agenda is something to be feared, but i don't think that bernie sanders will be our president any time soon. >> not only the socialist agenda need to be feared, but something to be respected it comes because of a lack of leadership. any time you have a leadership void you have something that takes its place, it could be good or bad. syria in isis took its place. and now you have a leadership void in democratic party, have you socialists take that place. the tea party came along for a while, you had john boehner and paul ryan who was casualties of
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that movement. problem we have is we don't have money for these policies, we have more debt accrued right new in good times than almost any time in history, no matter what candidate comes in we'll face a problem that new measures, big ones like socialist agendas cannot be paid for. >> i think that 2020 election will be different from 2016. will be for senator sanders, 16 it was really he versus hillary clinton. you know there was hillary was more moderate. and bernie was more of a populous. this time we'll have 15 candidates on the stage, there will be 3 or 4 in bernie's lane, and 3 or 4 i call center left, and for most part everyone will check the same boxes in a sense
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they will be for climate change could for immigration, gun reform. and for healthcare as a right. a lot won't shift as far as bernie will, and a lot of them will say things have to be paid for. i think is a different debate for him going to 2020 than 2016, it will be more difficult primary because of the competition. >> i think it will be very difficult for bernie, i think that ern is on -- er everyone in to next socialist that is alexandria ocasio-cortez. he is no longer the leader of that big progressive movement. i think that is a problem he will face. but he will also face, he actually loves capitalism, this guy flies private jets, and same with alexandria ocasio-cortez, you see her with her starbucks and her watch, and loving it and complaining how, housing is so
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expensive in dc yet she gets a luxury condo and rents it over there. we have seen all that medicare for all, and robert could talk more extendsive, a reason why obamacare did not work out, it not cross state lines, there will be patches they can apply that will fix the system. >> i know that everyone wants to get in, but amy klobuchar has been speaking about private option, extent the public. brown said he believes that medicare should go to age of 50, they don't want a system government run, you know, right now, their is a whole group of different views, healthcare as a right of debated at midterms, it clear that democrats wonned
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midterms, but i don't think that shift to the far lift will necessarily be a winning strategy. >> go ahead, caroll. >> i actually don't think that will work out, if you look at someone like howard schults the life long democrat, calling out radical left, that is why he is getting to the race as a centrist independent, he wrote stakes are too high to cross our fingers and hope democratic party nominates a moderate, those so concerned about a centrist inspect being a spoiler should perhaps ask for question, it will be own version of a spoiler, he will stay in the race. unless the democrats nominate someone who happens to be more
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moderate. >> the problem, they can't nominate someone more moderate and neither can republican peter, they bring right wing lunatics, and left wing socialists. the problem in the last elect was not hillary clinton and donald trump, but the machines that feed them. most of america, you look at what al gore had planned, he was sprayed with human repellent somewhere in his life, any time he mentioned something, you discounted it because no one liked him. and there are different ideologies between right and left. that does not mean either side likes or dislike america any more than the other, we have to fine middle ground it will be tough with primaries because they play to the base. >> during the primaries, we'll
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have to see what candidate will talk about 60 trillion in unfu unfundedly bied -- liabilities,f they to medicare for all that will cost another 35 trillion. >> that is a bit disingenuous, the party of conservative fiscally is all of a sudden balloons the biggest deficit ever, right now. brokboth parties say, more debt? no fiscal discipline, it is not the left or right any more. >> if you are looking for a more isn'sensecentrist candidates thu believe that the 15 dollar an hour minimum, and he'll carry hy
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for all -- health care for all that justeds to the deficit. >> we should be fighting for a living wage. note a -- it is not a number, i don't know if it is 9 or 30, but when i speak to tim ryan, my friend in ohio, he said those industrial workers who make 40 dollars an hour, they don't want to make 15. we don't know what right number is. >> 15 in one area is different from 15 in another area. 15 in new york city, is different from 15 dollars in topeka kansas, that is the problem but what is a live could wage. that is why the government should not dictate this. why are we -- let the states decide. >> bringing it back to candidates, i am for small government. i am for common sense, unfortunately, those types of mantras don't work in an
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election, no one wants to hear we have a lot of debt, we have problems, we have be fiscally responsible, they want the unattainable promises that is what is getting us in trouble are the pipe dreams that resonate from certain candidates and charisma. >> caroll, do you think that people are really going to vote on you know, aoc is pitching now as part z that green new deal, you get paid even if you don't want to work. >> i think that people vote on personality, on people instead of principles that a big problem with our election system right now, they like someone with charisma versus someone who can get things done. >> i just' to point out, that donald trump was elected to blow up the system, people were frustrated they did not want another bush or a clinton, donald trump was not a republican, you can still see it played out in washington to this
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day, have you never-trumpers and republicans again him, i think that what will happen that democrats there will be someone like let's vote this person in to blow up the system. >> we blow up the debt though, at some point the president has to blow up the debt, you can argue obama and bush two doubled the debt, bush had two war -- and obama getting out of recession, we have a great economy right now, and we're blowing the debt out of proportion for future generations, there no excuse for the spending that is going on in washington, d.c., sooner or leyte are a candidate has to deal with that. it will be unpopular. >> to add to that, yes, there is a difference between blowing up the debt and deficit, obama took defrideficit from 12% to under
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three%, we're plowing up the debt and deficit right now, there will a time we have to pay something back. okay? >> but not according on alexandria ocasio-cortez and the people, they are listen we could run deficits forever,. forever. >> kevin, you can keep giving her platform, she is not run for president, not on stage as someone we're electing for president. i am her voice is no question going viral but for people like that you want to talk about her. >> that my age want free education, and healt health car. >> do you? >> not me personally. millennial want to. >> 25 percent was country believe in socialism, that many people believe in ufo's. >> it feels like -- there is a crazy facture. >> essence of a americanism has
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changed. recently that is the vibe i get. >> i don't know so. >> i don't think so. go ahead. >>y don't think it has changed, what has changed is political system, there is the exhausted majority that represents of middle of the country, that is why you see people like howard schultz trying to step up bridge that gap in the middle. >> a holiday shortened week. longest win streak in almost a quarter century, president trump said he is the reason. what do you make of that? blood pressure ctible,
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>> do you o on the dow on track for nint 9 week in a row of gai, we're less than a thousand points from a new all-time high, president trump is tying himself to market performance, with this tweet. had opposition party won the electiontion, stock market would be down at least 10,000 points by now, we're heading up, up, up. is the president right? do market tip have mo nowhere tt up. >> i am laughing. one reason why market is up, fiscal policy and mol monetary policy of conducive to the market. previous administration had a lot of monitoring policy, this
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administration has done, deregulation, and make our tax system fair for small and medium size businesses to compete. all others were doing staff where they paid high rates. i am that is one reason that the market is doing well, is it going up? it will go up until the fed raises rates again. >> >> market does well is a good thing. i think fed's new direction helps, when the fed giving a different perspective in december, it was not helping, it feels like china trade deal, momentum may go there, we don't know if that is fact or fiction. first quarter earnings seem pretty good, i still think that
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tweet is ridiculous, the market would not be downy i 10,000 poi. >> all yours. >> i think that president trump deserves credit for this economy, for the tax cuts and cut in regulation and a lot of plaque cloud tha -- black cloude horizon. with tariffs and trade war he started, it kind of a mixed bag, corporate earnings are 19%, it is supposed to be 7 to 8%, that is fantastic. on flip side, i agree with robert, if clinton had been elected i don't believe that market would have rallied like this, but i don't think it would have fallen, it would have been closely aligned with what president clinton did in 90s, not what president obama di. did he had the small be fairness
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act that cut regulation, last time we had a big regulation cut, i think it would have risen as much as it has under president trump. >> i think that president trump does not want to take too much credit for the market, no president des all credit or blame. president trump on an indirect basis has done a great job in terms of his policies, but he has other policies that create headwinds like trade, if we can get past trade issues where china that will be a boost for u.s. economy and the global economy. it is a very rocky path, back and forth, i want to push back against the what kevin said with small business, small businesses did not enjoy same types of corporate tax cut that big businesses did, since most small
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businesses are service, could, i don't think that is really what is driving the economy. >> not according to -- they produce their outlooks, they talk about how one thing that is hardest for small businesses. to fill the jobs they are adding more and more jobs. >> right, there are about 30 million small businesses, the they cover a small portion of them, majority of them, particularly on surveys side, did not benefit from the tax cut in way that corporations did. >> you know i think we agree that the economy is doing well. for most par most part? is it doing well enough, john, for republicans to win on it? >> i think it will have to be.
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if you look at any president last 5 presidential administrations, the economy has to be good to get reelected, or at war, rarely is a wartime president not reelected. i don't think that economy will stay strong for next two years a -- recession is forecasts, if a recession is happening then i think president trump has chance of get reelectio ree. >> reelected. >> the economy is not the market, there is a decoupling there, i think that market will go down before the economy does. >> we'll see more on this, 2020 presidential hopeful. wait until you hear how much she plans to spend and how she plans
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>> not just children of wealthy, children of the well connected but every one of our children is entitled to good child care and early learning experiences, people say, it is going to really expensive, it is, i have a way to pay for it ultra millionaire's tax. >> wealth tax, democratic candidate warren, a universal child care plan. her plan would cost us taxpayers, 70 billion a year. to limit american family expenses to 7% of income regardless of how many kids they have in care. we ask, is this what america
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wants and needs right now? >> i certainly think this will be a big debate to 2020. we talk about income inequality, warren has been to in forefront of that debate, this does not mean we agree on this. i think a lot of people willing which her and her ideas -- challenge her and her ideas of free this and free that. but torch's point how do you pay for these. this is who she is, she has been authentic, some show is not shying away, i think it will be debatable how you execute a lot of these populous plans. >> probably going to get heat for saying this, the best child care in best early learning a kid from get is from the family, whether mom or dad or a grandparent that is the best outcome for children with early education and care and learning.
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i understand that is not everyone's choice. but at some point individual responsibility has to come to play, if you want to make a different choice, be responsible for the financial implications of those choices, is not government's role to do, that not your neighbor's royal, not millionaire's role, if you want to make a different choice, you don't want to or like you are unable to care for your children, think but the implications of that. >> their is important, i think john will chime in attack -- tax code is complicated, and the ultra millionaire will find ways to avoid this, the middle class will end up paying for this. they will go to a tier and down a tier, i echo caroll, the best opportunity you can give the kids is parents, good economy
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opportunity to get jobs and foster the economy along, we can't be paying for everyone's everything including child care. >> kevin you are spot on with that who will pay for it. the look at tax rate before the corporatcop cut cut. the reason it because the big companies were those who get to the huge tax breaks, to buy off crooked politicians which they have done for decade, so middle and small businesses paid highest corporate tax rate at this time, that is what will pay for this, you talk about ultra millionaire tax it sounds fantastic, we'll get the fat rich guy in the corner it brings in 12 billion a year, 12 billion, that does not pay for anything. that is being proposed, she 70 billion to pay for this. >> thi wealth inequality will nt
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take off this way. >> this is politics this is rhetoric, there is a lot that get said during an elected -- election then how you to execute, we know what you say in an election is not always how you execute. >> a thing called congress they do check and balance. >> i am curious how effectively she will be able to sell this she gets personal in this pitch, she says it was so hard for me to get my career on track, i had to worry about my children, who'll care for them, most wim n work these day, you want good, i question how good this universal child care would be, if we get there, you want good care that is pretty expensive. this might be more popular than we think. >> it is funny, she said it was so difficult, yet she did it. and she was able to be
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incredible successful, at a professor new senator -- now senator, in this country we lost philosophy that struggle is somehow not part of success, people have to struggle to be successful, it is okay to do hard work and do things that are hard to be successful. we -- that is in our dna, we can't just take that away, we have t get back to individual responsibility. >> caroll, i think that sounds great, but i think that i find that disappointing comment, she is talking about families under $50,000 dollars, and people are struggling today if we can help them with education or child -- not her plan is the right one, but we should think about how -- >> but, but -- >> i think that -- >> 800 thousand people off through the shut down, they could not literally have 400
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dallas are you kno -- dollars ft pay chick, people are hurting these things that we should debate. i don't think there should be free rides, we should know that trickle down economics does not work, it has not trickle down. >> because people are expecting the government to solve their problem and take care of them, if we want to help people, we create tune in terms of job training and stills training and apprentice siapprentice ship. it is old adage, to teach people to fish instead of giving them the fish. >> we have to leave it there, 16 states are trying to bridge the president to court -- bring the president to court, but do they have the legal power to do so? next.
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declaration to build a border wall. >> if our nation does not have borders, we don't have too much of a nation, when drugs and all things you know better than anyone, what is happening at border, bad situation. so i think we'll do well with the lawsuit. >> bring in li litigation attor, sessionseth, what do you make. >> 16 states assert president committed an unconstitutional overreach of his executive power, based on an argument for unconstitutional violation of separation of powers, i think that the president has a bit of an uphill battle here, it is a critical issue, but on law there have been argument made it violates separation of power principle, and i think that president's lawyers did not serve him well on day he rolled
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it out, other side has latched on his come saying it really is not something he needed to do right away. it almost created appearance his legal time was having a three-martini lunch that day, they did not give him guidance on this. president will face a bit of up hill legal battle. >> first, there is nothing wrong with a three-martini lunch, you don't have to be a hater. this seems like a nightmare, no matter what you think. if the president invoked eminent domain to build the wall. what happens, say he takes money that transferred it to build that wall, what happens to that money, what happens to land if taken? if president loses this legal battle then can't do it? >> you have identified a really critical aspect. there are other challenges that are coming where individual land
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owners are going to challenge what you just identified. there is a concept here called issue of legal standing that is going to be a very live issue that president's lawyers will file as a defense to case that has been filed by 16 states, when you have people that lose land, because of ema eminent do, they will say that states lack legal standing because their claims of loss and harm are too attenuated. i think at end of day, court the make a close call, say that states are shown some kind of standing, but i think have you identified an achilles' hills thaheelthat president's lawyerse attack. >> this is interesting we're not talking about national security concerns, then we look at that california already has a border
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wall, arizona has a border wall, is it -- are the courts going to look at this case, give deference to the president over national security concerns, say there is already a border wall, we have to give presidential deference. >> yes, absolutely, as a part of back drowned ibackground in thi, long-standing difference that -- deference that for the courts provide, even if president loses at the trial court level or even 9th circuit. it will probably end up at supreme court. and there the supreme court will be talking about the issue that you have identified, let's look at who is now supreme court, for example justice kavanaugh, from what we have seen, we know there are two things justice kavanaugh likes, beer and expansive
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executive authority, i believe if you end up in a close vote in u.s. supreme court, deference that you talked about might end up being delineation line of where we end up in final chapter of this constitutional legal battle. >> we had an appropriation that took place and a bipartisan bases with senator shelby leading and chairwoman anita lowy leading, it is not necessarily the national defensing which but the check and balance of the purse, i would say, what i think is interesting are. two lead republicans in house from texas, congressman hurt and thorn berry. they oppose this, it seems
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strange to me that two big republicans in texas oppose this. >> you know, there is -- it very interesting to watch what is happening in the congress, i agree there will be a lot of interesting developments on capitol hill in coming day, while we have that activity going on in federal court in california, we'll see voting on capitol hill in both chambers as to whether or not there will be a counter balance and a vote that will initially be by majority vote which the president can then force a 2/3 majority vote to override a presidential veto, i think you will see a lot of dynamics on hill and federal court. and other thing you pointed out, is that these attorneys general did not really rely heavily on national security statute under emergency act, they turn this to a seminar on constitutional separation of power, they are no
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not going squarely to president's authority under emergency act to declare a national emergency. i think whether president's lawyer go in i think they will try to steer the ship in that direct, at the end of the day this is more firm territory for president's legal arguments. >> seth thank you so much. >> walmart hit the ball out of the park today. should amazon be worried about walmart? that debate next. at's why there. screen light... sunlight... longer hours... eyes today are stressed. but ocuvite has vital nutrients... ...to help protect them. ocuvite. eye nutrition for today. [indistinct conversation]
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>> walmart is out with blockbuster earnings report. one area that was strong on-line sales, up 43% from previous quarter. 40% for the year. so should amazon be worried that walmart might be competing right now with them. >> i don't think amazon should be worried. we know that commerce sales are less than 10% of overall sales there room to grow, they are growing 16% year-over-year to
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double over next 10. everyone needs to be investing in physical stores we know 95% of overall sales are between am he channel play -- omnichannel players. one way that walmart capitalized and beat earnings today people within on-line they clicked and collected. they drove up to the stores to pick it up. there a lot of leg of growth, retail real estate is doing well and industrial real estate doe well. >> i, agree with kevin. a lot of people people contemplate business models -- conflate the business models of walmart and amazon, they are quite amazon. and also one big of driver in growth right now for amazon is their amazon web services business, that is growing at a clip close to 50%, that is expected by 2020 to be over 40
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billion. and that is really a valuable area for them, i think at the end was day this good news if you are a walmart shareholder, in terms of them knowing their omnichannel strategy, a good piece of news if you are betting on the consumer, with strength and walmart and amazon. >> i agree with both. the problem they have is rest of retail. there has been trouble, walmart was original mom and pop store killer, now they fighting against the ne mom and pop store killer, that is amazon. they have third party vendors on their side. that is what happens in a free market, but i think market can compete with amazon could i don't think they will hurt them. but as kevin said they have distribution centers, stores all over north america they canny can live from, this is why amazon bought whole foods, also for delivery point, they have
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got hurt in india, with prime minister ruling about selling goods from companies they have a stake in, that said, north america, the companies ul rule for a long time. >> i want to make a quick note, you saw that walmart did a strategstrategic 5 year relatiop with microsoft, enact virtual reality firm of their technology that is where they are also doing well. >> all right, well, we'll move on this 2020 hopeful, cory booker, has choice words for critics of the green new deal, what he said you will hear. right after this. 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. ♪ ♪
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you need decision tech. 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. reporter: cory booker slamming critics who are questioning the cost of the green new deal. >> this is a lie. this guy is a former mayor who
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retrofitted buildings. created jobs for our community and lowered our war won footprint. the lie that being green and responsible will hurt the economy is a lie. reporter: he was talking about when he was mayor much newark, new jersey. >> he has a point. retrofitting business makes sense. a smarter grid pays for itself. the problem is the far left lose their message when they talk about no more airplanes and we'll stop cows from doing what they do. i don't think there will be a democratic president in 2020 unless the economy falters. reporter: anybody taking the green new deal seriously is not a serious person. anyone talking about reducing
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your carbon footprint but not talking about how you approach china and other developing countries aren't being serious. obviously the environment is an important platform for a lot of people, and they should be coming up with something that's common sense. they should be talking about things that are realistic. blue sails difference between being realistic on the new green deals with you happens to be rainbows and piewn foreigns. >> i have a hard time listening to spartacus talking about this being a lie especially with what happened under the kavanaugh hearings. the green new deal is a redistribution of realt. they want to. of wealth. part of the sky high cost is
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labor. it's sky high labor costs that are part of this green new deal. and you can't pay for it unless you tax everyone. they can say 100% fax on the wealthy and it still wouldn't pay for this. the republicans need to couple astounded infrastructure plan everyone can get behind. reporter: there is a cost. the "wall street journal" ran wt journal" wrote an article talking about the cost of lightbulbs. >> the republicans need to come up with a plan. i don't agree with what aoc is saying. some of it does make sense. but at least she has a plan.
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the republicans need more than bumper sticker slogans about their opponents. and protect the environment because everybody is for that. president trump: bernie sanders is running. personally i think he missed his time. >> our campaign is about transforming our country and creating a government based on the principles of economic, social, racial and environmental justice. president trump: we'll see how he does. a lot of people are running and only one person is going to win. i hope you know who that person is. liz: it is socialism versus capitalism. bernie sanders announces his presidential run as a number of presidential contenders reject
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