that call has begun. >> i think they want to do it regardless, i get that sense. >> it seems like it but there are some who realize maybe it's not. bulls & bears starts right now. >> i have called to initiate impeachment proceedings, initiate conversations on impeachment right now? >> i'm running for president. i don't think we should defeat donald trump through impeachment. david: well, it is the big issue now driving a big wedge through the democrat party, whether or not to push for the impeachment of president trump in the aftermath of the mueller report. speaker pelosi trying to unite her divided party, holding a conference call beginning any moment now with house democrats scattered all over the country in their home districts for vacation. hi everybody this is bulls & bears. thank you for joining us today.

i'm david asman. joining me is the panel. but first, let's go straight to fox news's mike emmanuel in washington. so mike, what is nancy pelosi's goal with this call? >> basically trying to keep everybody in line, david, ahead of the conference call with house democrats, speaker pelosi sent a letter to her colleagues acknowledging a split. pelosi writing, quote, while our views range from proceeding to investigate the findings of the mueller report or proceeding directly to impeachment, we all firmly agree that we should proceed down a path of finding the truth. it is also important to know that the facts regarding holding the president accountable can be gained outside of impeachment hearings. the chairman of house oversight sounds cautious. >> the fact is is that i think we have to do -- be very careful here. the american people, a lot of them clearly still don't believe

that president trump is doing things to destroy our democracy and has done a lot of things very poorly. >> here's how the house judiciary chairman handled the question. >> do you think this is impeachable? >> yeah, i do. i do think that this -- if proven, if proven, which hasn't been proven yet, some of this -- if proven, some of this would be impeachable, yes, obstruction of justice, if proven, would be impeachable. >> presidential candidate is calling for impeachment proceedings. >> we cannot be an america that says it is okay for a president of the united states to try to block investigations into a foreign attack on our country or investigations into that president's own misbehavior. >> president trump has fired back on twitter writing only

high crimes and misdemeanors can lead to impeachment. there were no crimes by me. no collusion. no obstruction. so you can't impeach. it was the democrats that committed the crimes, not your republican president. tables are finally turning on the witch hunt. this hour, house democrats are discussing next steps. david? david: mike, i know you are going to monitor the call and let us know as it unfolds in this hour. >> you bet. david: thank you very much, mike emmanuel reporting. >> thank you. david: and meanwhile, 2020 hopeful liz warren is rolling out her proposal to wipe out billions of dollars in student loan debt and create free college for everybody. warren's ambitious plan calls for erasing 640 billion dollars in outstanding student loan debt for more than 40 million americans. warren says she will pay for her 1.25 trillion dollars debt relief proposal through her ultra millionaire tax, which is a 2% annual confiscation tax on

families with 50 million dollars or more in wealth. warren is also calling to eliminate tuition and fees at all public two and four-year colleges. gang, despite the incredible cost of all this, will it appeal to voters? what do you think? >> of course it appeals to voters. it is free. once again warren is trotting out a way to spend your money. i mean, i'm so offended by her entire campaign which basically hinges on giving away other people's money in ways that basically pander to groups that she needs to make -- gain traction with. her campaign is going nowhere. it is going nowhere with young people, so sure let's make college free. it is going nowhere with minorities so let's focus on the historically black colleges which by the way is really an incredible about-face. this is a woman who hates for profit schools. why? because people come out loaded with debt and they can't repay it. but black historical colleges which apparently have the same problem we want to give taxpayer

money to. at some point, liberals have to acknowledge that the more micro managing of various sectors of the economy that the government does, the more disasters we have on our hand such as student loan debt. which by the way, i agree with her on this, it is a disaster. >> i think it is great she is one of the first emerging democratic candidates that acknowledging this. you know, the president did so in march as well. but there are issues. you wipe out all the student debt, it is a slap in the face first to the people that paid off and worked really hard and i will throw myself into that campaign. david: all of us. >> to pay off the student debt. the second issue is when you wipe it clean, you are encouraging more people to go to college, which that's not what i'm debating but maybe they are not suited for that avenue. we need people in other avenues like trade, vocational jobs. why not go after the actual problem? why are these schools charging so much? maybe reduce the interest rates on some of these student loans. i think there are better solutions as opposed to adding a

tax on what she calls the ultra rich. >> let's get the government out of this business. this is a government created problem. this bubble that's created this tremendous debt. i think to the panelists' point what an insult to the people who actually saved, who went to a college they could afford not only asked to pay off the debts of those who didn't act responsibly. warren is gasping for air in the polls. to liz's point, another freebie. look, there's no such thing as a free lunch, certainly not a free tuition. it is disastrous impacts to the economy. >> it is also an impact to contract law. look, these are contracts that are being signed. you are taking out a loan and you are supposed to pay the loan. so my question is, what's next? is elizabeth warren going to start going for people that have a certain amount of money or don't have a certain amount of money to take care of the mortgages, another wealth tax? this is just another in a long line of what i call authoritarian socialist

dictators who use people's wealth to make their bid on any number of places in society. we're going to have the healthcare for all also. what's after that? the climate change tax? the gas tax? the vat tax? the everything tax? the wealth tax? it just never ends with these people. i've got to tell you, it's becoming tiresome and it is nothing but pandering at this point in time. >> gary, i have another one for you. just came out with another proposal today. david: just when you thought that was enough. >> this one -- >> another proposal? >> yes, another one, targeting ceos, her corporate executive accountability act which would make it a federal crime punishable but up to a year in prison for any corporate executive of a company that breaks the law, even if they are unaware of any wrongdoing. that's a caveat. so with this threat of jail time and reputational harm, what do you think? how is this going to affect the american's largest companies? you had some that got away with some bad acting like the equifax

ceo, facebook as of late, the list goes on -- david: this allows you to be guilty for stuff that you weren't aware of. it turns our whole law of who's guilty on its head. >> why was there only one banker from credit suisse that went to jail after all that? >> because the fraud was committed by government, not by bankers who are competing in a system that was created by the government. for elizabeth warren, ceos are guilty because they are ceos. to david's point, she wants to hold people criminally accountable for laws that they broke that they weren't even aware of. david: no standard of proof. >> they are guilty because they are successful. this is the hatred of the rich. >> i think this is incredibly unconstitutional, illegal. i had a chance to talk to judge napolitano this morning about it. it is basically discriminatory. you are taking one group of people and saying yes, because you're a ceo, you have to be held accountable for something you had no idea happened.

what about parents if their kid is off and they do something bad? isn't that the same kind of standard that would be applied? it doesn't make any sense. once again, it's just something she's throwing out there. it is like three things a day now that basically she's hoping someone notices and here we are talking about it so good for elizabeth warren. that's about as far as it goes. >> she's such a logical woman, you know nothing about a crime and let's put you in jail for the crime. what about the crime of saying i'm an american indian please pay me a lot of money for that big teaching job, what about jail for that? that's nothing. that's no big deal. look, let me get back to my point. it is authoritarian socialist dictatorship and it is based on your wealth, your taxes, your job, everything, it used to be that we're supposed to applaud people that are successful, become wealthy because they created the wealth and they created jobs. we went through so many years of the democrats ripping wal-mart,

the greatest job creating machine in the history of time that by themselves took down the rate of inflation because of how low their prices were, yet they went after them also. it just never stops. david: when you have an arbitrary standard of proof, it gives all kinds of authority to the government, not to rule by the rule of law, but to rule against people that they don't like, to put a supposition in somebody's mind to say i know what their real intention is. you don't have a standard of proof. that's the core of our legal system. this is up-ending something that has existed since the magna carta. you have to prove intention except with warren. >> prosecutors have done very little to charge -- >> maybe that's their fault. that's not the fault of this law. >> these guys have money. they bring their lobbying, money forward, and they can get away with it. >> enron people went to prison,

remember? >> that's a good example. >> ceos break the law, they go to prison. it's not with reality. >> what would constitute the fact that it is not valuable to go to jail? equifax, all your data, maybe you are not realizing how bad it would hurt you in the future. >> notice the pattern, rules, regulations, fees, fines, mandates, taxes, this is what these people are known for, the more, the better for them. just remember, when we send them a dollar, do you think a dollar -- you know, we were talking about paying off the loan? do you think a dollar is going to pay off a loan? no. just divide it by 2/3, maybe 33 cents will get down there because they got their committees and commissions and staffs and the committees for the commissions of their staff that take all that money off the top. it is just a cesspool at this point in time and it's got to stop. david: what a great discussion, gang. thank you very much. the price of oil spiking as the trump administration clamping

down on iranian oil imports. what could this mean for prices at the pump? we have an answer coming next.

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david: breaking news, house judiciary chairman jerry nadler just issuing a subpoena for former white house counsel don mcgahn to testify and for documents related to the on going investigation into obstruction of justice, democrats are continuing. mcgahn emerging as one of the key witnesses of the mueller report. he reportedly appears on 66 pages of the 448-page report. we will bring you more information on that as we get it. our goal has been to get countries to cease importing iranian oil entirely. last november we granted exemptions. we will no longer grant any exemptions. we are going to zero. going to zero across the board. how long we remain there at zero depends solely on the islamic republic iran senior leaders. david: oiling hitting its 2019 high today as secretary of state pompeo announcing a crackdown on iranian oil. analysts say the move is

expected to push gas prices up 10 cents more a gallon in the coming months. so with gas prices already above 4 bucks a gallon in california and approaching that level in other states, across the west coast, is president trump taking a big gamble stimulating higher gas prices ahead of the election? what do you think? >> bad timing, we are already in a bull market for energy prices. this will add to it. every 10 cents over one-year period adds 10 billion dollars to the expenses of the average consumer. that doesn't even include business, like airlines and cruise lines and things like that. i think they better be careful. just remember, the president's been going after opec to do something better to get prices down. this does the opposite. >> yeah, but gary -- >> >> i'm not saying it is a mistake. i'm saying bad timing. >> can you imagine us not going to war, world war ii because we didn't want the price of -- [inaudible] -- to rise? we're talking about safety here. i mean, this is iran we're

talking about. this is an enemy of the united states. i will give the president credit because thanks to his deregulatory efforts, we have the supply. we don't have to depend on the middle east all for the tremendous amounts of gas. i agree with the prices are likely to go higher but the rule of government is to keep us safe not to micro manage gas prices. >> we agree. >> i think the president and his people have made it pretty clear that saudi arabia and the emirates will step in and supply whatever product is taken off the market. there is a mismatch. iran is heavy oil. saudi arabia light oil. that will be a bit of a problem in terms of refiners trying to figure this out. i kind of agree with jonathan. we either have this regime really cutting down on 40% -- it would be 40% of iran's income comes from exporting oil, or we don't. and i think there were a lot of people who thought when they initially put on these sanctions and granted these waivers that it was sort of a half-hearted effort. so we had to do it. it seems to me yeah it is not great timing. they had to do it. >> i have a few question marks about this entire process.

will those extensions, those waivers for the five countries that are remaining? i heard some analysts they believe it is going to continue to be pushed back and these countries like japan and china and india will still be able to do business with saudi arabia -- or sorry with iran. david: unclear. >> we all trust saudi arabia. however, should we trust saudi arabia? you have a state enterprise, right, that's going public. they need their ipo price to go high. that goes high when oil prices are high. the imf says saudi arabia needs oil prices to be $73 a barrel for the united states for us to sustain growth, it needs to be $60 a barrel. david: we don't have to trust saudi arabia because they hate the iranians more than we do. they have a personal interest in this. not just about the price of oil. it is about the feature of iran on the global stage, and they fear iran more than we do because they have the holiest sites in the world of islam. iran wants those sites. they want mecca. they want all the sites that are in saudi arabia right now.

they may have a nuclear weapon, the saudi arabians, perhaps the iranians are working closer to nuclear weapon than we know. so i think that it is within saudi's interests to ramp up -- usually i don't believe them when opec says these things but in this case i do. >> i get all your points but let me just say this, venezuela couldn't even produce a barrel of lemonade right now, and that's not helping either. so all i'm just saying is if energy prices go up, it is a huge tax on the consumer and business. i understand the part of security. i'm all good with that. i'm talking numbers here. i'm talking economy. it will affect the economy if it continues going on here and stays there. >> gary, you would say and look no matter what you think of the president, you have to admit the economy by every objective measure is pretty strong right now. >> yeah. >> how much of this escalation in oil prices is -- it could be iran but also it could be due to a strong economy, could it not? >> not seeing inflation either really >> there you go.

>> for months there's been outrage that president trump continued to be allied with saudi arabia, because of the khashoggi murders, it was sort of thought we should throw them under the bus, never talk to them again, these talks have been going on for months. there is always something we're talking about with the saudis. so it doesn't surprise me that they basically tried to talk and talk to the saudis during? period and tread lightly. david: however gas price will go up and that's going to be a speed bump for the president during the election. >> and it is summer. without a doubt. david: protesters lighting fires in paris. why they are angry over donations being given to rebuild notre dame cathedral? wait till you hear the answer. obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets

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be better spent on helping combat poverty and other humanitarian issues instead. do they have a point? what do you think? >> well i think the worst thing that can be happening for combatting poverty in paris right now is withholding the rebuilding of notre dame and establishing peace in the streets because i tell you what, this is a country that is very influenced by tourism, very much helped by tourism, and tourism is being crushed by all these protests. so if they are really concerned about poverty and helping the country, go home. >> yeah, i agree with that because you need these tourism dollars which is why it is so important. this is 23rd week on sunday. this will be entering the 24th week of these protests. every single week it seems there is a different issue. there's still a large portion of the france population that believes that they are suffering from inequalities and all this stems from back in november when they imposed that gas tax and a lot of people were furious. maybe the government can be doing a little bit more to mitigate that situation. i know that the budget deficit was at a 12-year low.

even macron just over this month a few days ago announced that they are doing better because of brexit so more money is flowing into the country. but what about these people -- >> some firms that are moving their operations to paris instead of munich or someplace else are beginning to question that decision. >> i have a message for the yellow vests. it is not your money. it is other people's money. it's their own private money that they earned and they can do whatever they want. i saw a couple billionaires giving hundred million away and not even taking the write-off on it. this is what you want to see in people, great philanthropy that step up to do thing. if you want more money, go earn it, get a better job, get educated whatever you need to do, stop complaining about other people. >> these are not protests. these are riots. when you set fire to a starbucks and start burning -- burning

police cars that is a riot. france is the long-term entitlement state. you have generation upon generation disaffected mostly jobless youth and they are lashing out. one week it is inequality. one week it is climate change. these are in my opinion hoodlums who want to riot. they want to burn things no matter what it is. it is the anarchist, anticapitalism mentality. as a tourist i want want to go to paris these days. david: another aspect, just in the united states, catholic charities donate about 30 billion dollars a year to the poor and deserving. that doesn't count all of the parishes all over the country, just about every parrish has some kind of soup kitchen or place for the homeless whatever. you add that up, billions and billions of dollars. notre dame and other great cathedrals exemplify the charity that goes on every day, every hour by the catholic church all around the world. you are encouraging that kind of charity, aren't you?

>>i think that's true. to jonathan's point, they just put a label -- today's protests or riots or whatever have to do with income inequality, but tomorrow it will be something different. this is not -- and the tragedy here is that macron was actually elected to help change work rules, to help get the economy moving again in paris. and they had about a 30 second time when they actually gave him the benefit of the doubt and allowed him to make some changes and that ended. it happens over and over in france. to your point it is basically a socialist country wanting to be even more socialist. it will never improve at the rate they are going. >> it is called a lack of leadership. he puts in a wealth tax. he loses the wealthy. so he gets rid of the wealth tax. people complain that he puts the wealth tax back on. he doesn't know what the heck he's doing and he's getting everybody mad on every side. that's why he's polling a little bit less than james dolan who runs the knicks. >> and the country seems to be simply falling apart. we see it every day in the news. david: it is not good. let's pray and hope that the

restoration of notre dame cathedral proceeds very quickly because the sooner it does, i think the better for everybody. the numbers on the future of social security. a live report from the white house, when we continue. you wouldn't accept an incomplete job

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david: tesla's investor meeting is currently underway where ceo elon musk is pushing the company's new driverless car technology. robert gray is live in l.a. with the details. >> hi, david. elon musk diverting investors attention now, he's talking self-driving cars and a robo taxi fleet. this even as the stock slumping amid demand of possible safety concerns. musk showing off the latest in house technology for its full self-driving computer and claiming the company invented the world's greatest chip for autonomous vehicles. he also said tesla cars are ready to take the next step to fully self-driving vehicles.

>> tesla cars being produced right now have everything necessary for full self-driving. all you need to do is improve the software. >> musk said the tesla network would be ready next year, that's a ride-sharing service he called a combination of uber and air bnb. he expects tesla will receive regulatory approval in 2020, in some places, for both self-driving cars and the ride sharing service. by then, musk predicts there will be more than 1 million teslas on the road with full self-driving capabilities. now, the stock under pressure today. a video out of china showing a model s apparently catching itself on fire. tesla is investigating that incident. a wall street analyst telling clients to sell the stock and other analysts at web bush security saying he expects a quote train wreck when tesla reports first quarter results that's wednesday after the closing bell. that firm seeing increased odds that tesla will raise some 3

billion dollars in the near future. they have a lot of debt outstanding 1 1/2 billion coming this year and 5 1/2 billion over the next three. david: tough sell. robert thank you very much. will elon musk be able to turn the tide of a string of negative headlines and convince investors they are moving full steam ahead? >> he's still involved with the sec drama as well over his previous tweets. from that report, what we know is he's officially committed within the next year or next year we should say that they will have full on demand taxi robots that will be able to come. that's soon. i didn't think that would happen that soon. i don't know how he can follow through with that. several issues like you mentioned a few analysts downgrading the stock. you have a lot on your plate. you need to stay cash flow positive. still unanswered questions about deliveries, about demand and there's concerns that demand may be dropping. if you have this issue which has not been verified yet in china. so i want to specify that. it hasn't been verified.

that's a huge market, 20% of their revenue. if you have one car blowing up and bursting into flames, that could damage the brand. david: not good. >> elon musk is known to sort of trot out these mind boggling events and accomplishments just as they are about to report a truly horrible quarter. so in fact, the reason the stock and some of the analysts may be somewhat negative right now is maybe they are reading it that way because from a lot of different perspectives the actual probability of them having a fully autonomous driving car seems extremely low. number one, the technology, they don't have around the corner radar installed on these vehicles. it doesn't seem likely that just a software patch is going to really make the difference. there's a lot of skepticism about whether this can actually be accomplished. and because of that, they are reading this as being oh my gosh something terrible is about to be announced and this is elon musk's way of capturing everyone's imagination. >> the stock looks a little sick, doesn't it? to me as an investor, i'm not an

investor in tesla thankfully i think almost they are changing the story here. the reason to invest in tesla used to be was that it was an electric car; right? it was the only pure play for years and years and years, when every other major car manufacturer is getting on board. there was a fascinating story today, turns out in fact that tesla's e-cars cause more carbon than even diesel cars. so the whole justification, you know, the social justice warriors had for buying tesla is it was so environmentally friendly turns out that's not the thing. maybe the autonomous driving, god knows i'm not going to get one of those cars -- maybe it will save the company after all, gary, what do you think? >> i'm never getting one of those things. look, the only thing consistent about elon musk is his inconsistency. wall street does not trust him because over the last couple of years time and time again he would guide with numbers and miss with those numbers and sometimes miss badly.

then you know what happened with the sec. then he decides to smoke some weed on video. i must tell you any other ceo on wall street would have been out on his ear for the way he's been acting and some of the things out of his mouth. again, we have some sec issues, and i just don't believe the numbers that are coming out, and more importantly, the market doesn't believe it. it is one of the worst acting stocks versus the market in 2019. and did not do so well in 2018 either. david: bottom line is the shares are now down 20%. that's correction territory, for the year. 20% down. but again, there's still a lot of true believers. i think liz, though, makes the key point, whenever they have a big problem, that's when a distraction comes in. who knows whether that smoking the joint was just a distraction to distract from the bad basic news that they weren't producing the number of cars that they were supposed to have? >> i think liz actually brought up also too that the regulations, that's what we're missing too. we donn don't -- we don't know. if you were in a driverless car and a car hits me on my bicycle,

who is responsible? there are a lot of unanswered questions. if you are committing to having this out on the road in the next year, we don't know if it will go through, that's a huge commitment. >> i think the thing we should remember though is that the tesla is a gorgeous car. >> it drives nicely. >> this is not inconsequential. he has produced an amazing car that a lot of people want to own. david: the other point we have to remember which is that whenever there is a major transformation in technology, jonathan, you have talked about this, there's always questions about is it going to be safe? who is liable? i mean, think of when we went from -- to the horseless carriage. there were all kinds of questions asked. you see a fire in china, and you forget about the fact that there are hundreds of fires in regular cars all the time. >> aren't you skeptical because it's china? i mean, you know -- >> you cannot -- you cannot as a company come out and say we're going to have a million of these cars and then all of a sudden it is only 200,000. david: that's true.

>> that's the bottom line. it just continues to happen. david: okay. >> look i agree the guy is a genius, but he needs to get his act together. >> he's just overpromising. he's tame it down a little bit. he has a good product. david: more than a little overpromising. >> he needs to calm down a little bit. david: calm down. >> i didn't say that. david: new numbers on the future of social security and they are not good. we will be asking an arizona lawmaker on the house ways and means committee on what congress is planning to do about it. all coming next. and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works.

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david: brand new numbers on the future of social security. edward lawrence is standing by at the white house. edward, the numbers don't look good, do they? >> yeah, they don't really look good. in fact, you know, it turns out that i won't be able to retire and rely on social security. it runs out of money in 2035. expenses will exceed income starting next year, going throughout, you know, the rest of the projections. that's the first time that's happened since 1982. now, to an average retiree, this is what it means, the social security administration says the average retiree is $1500 in benefits in 2019. so in 2035, social security will only be able to cover 75% of the benefits that they pay out. so if this happened today, which it didn't, but if it happened today, that means that same

retiree would get just $1100 a month in a paycheck. retirees would have to do more with less as costs are going up. think about this, the average american workforce, private workforce, 50% of americans have pensions who are working right now. also working right now, 36% of people in the private sector have no retirement savings at all. that's 59 million people. now, of those people, they need social security for all or part of their retirement. >> the challenge before us is either reform it, pay for it, or get rid of it. there seems to be no political instinct to reform it. we're not going to get rid of it. that means pay for it. you know who is going to do that. >> on the medicare side, this is going to cost all of us a lot more money. the hospital insurance trust fund runs out of money in seven years. that is 2026. the costs have exceeded the income starting last year at 1.6

billion dollars. the second part of that is the supplemental medical insurance trust fund. that will not run out of money because the current law allows the general fund to stop the gaps to pay money to cover those gaps there. however, it will cost us more going forward. that's because the two parts of that, the part b of insurance, the costs are going up 6.6% over the past five years costs on part d, are going up 6.3% over the past five years. compare that with the gdp growth over the past five years of 4.1%, and the board of trustees in this report here saying that lawmakers do need to deal with this, deal with it now while options are still on the table, and this is not an emergency situation. back to you guys. david: doesn't look good. edward thank you. joining us is arizona congressman. congressman, great to see you. you have served on committees that focus on social security and its insolvency. what is congress going to do about this? >> first off, the only way we're going to come up with a solution

on both social security and medicare because i believe you have to sort of do it holistically. the math around medicare is much more terrifying than social security. it is going to have to be bipartisan. that's the only way you can take on something this big and this complicated. but there are ways to get there. it just -- you can't just sort of walk in and do the lunacy of well let's just raise taxes and raise taxes as the working population is actually shrinking compared -- in its comparison to those on retirement. >> congressman, thanks for being here. after george w. bush won reelection, i had the privilege to go to the white house and interview the administration because they wanted to move with toward on doing -- just doing anything on social security to save it for many years. and guess what? many years later and nothing done. they basically were scared out of their wits about the next election. >> oh, yeah.

>> knowing we have a monstrous election in 2020, how is anything going to get done right now? >> look, i'm hoping we can at least have america and particularly the political class understand the math, but think about the elegance if we had been able to move forward on even an honest conversation during those bush years of the demographics and the math. and instead, the left weaponized just the sheer discussion. so we can solve this. it is not going to be easy. it is going to be difficult, but if the democrats functionally weaponize it again, really bad things happen for those who are moving into retirement. >> congressman, jonathan hoenig, thank you for being with us. would you consider fazing out social security? it is a ponzi scheme. there really is no discernible difference. isn't it a little bit disingenious to say you are against socialism but for social security? >> look, the reality of it is you and i can come up with from

just a sheer actuarial model of a way that a worker who is in their 20s and 30s today would actually be benefitted by a much more private system. we'll never have the votes for that. so we need to actually -- if we're going to fix this, we will have to operate within the political reality we're handed. and it's more to it than just the taxes and the population. it's what do you and i do to encourage labor force participation? how do we encourage people to stay in the labor force? can we do incentives? i think you need to look at this in a much bigger package of what do we do with the fact that what is it 8 1/2 years about two workers for every one retiree? >> congressman, to your point, about workforce participation, i thought the most cheering item in the report had to do with the disability program and the fact that the extension of its

viability is now 20 years plus. why? because so many people have gotten off disability because we have a very buoyant economy and jobs market. so i don't think there is unfortunately an analogy for social security, but i mean that is something really people should celebrate and talk about. >> actually there is a little analogy for social security. we've gained about a year of life expectancy, and a lot of that's just because of those who are working, and the fact we're actually starting to see payroll wages actually moving up. so there are some real positives in there. look, for many of us, we still need to do a deep dive in to the report that was just issued. but how do you actually get folks on the left and those of us on the right and those of us who have worked on retirement security and deal in the reality of math? david: congressman, very quickly, what about the possibility, kind of an extension of jonathan, the possibility of privatization? i could do a lot better with my social security savings than the

government ever did. >> look, that's the mathematical reality. finding any path where we would have the votes to accomplish that. and in many ways, it is sort of a cruelty. i may have gray hair, but i have a 3 1/2-year-old. what is her tax burden going to look like with 74 million baby boomers who will be moving into the retirement? last baby boomer retires in less than nine years and that's 74 million population bubble is actually what consumes almost all the growth of federal resources. >> congressman, you were actually going to bring up -- you brought up my point. the fact that the fed came out with a report not too long ago, 75% of the population in the next ten years are going to need social security. they are a huge voting block. that goes to your point jonathan as to why you can't just get rid of it. >> that wasn't my point. that was the congressman's point. it doesn't seem like that is politically on the table at all. >> exactly. it raises the point why can we

accept social security but then be so against another socialist concept of medicare for all? so congressman, thank you very much for bringing up the bipartisan will that you have, but what are some suggestions? >> oh, no, there's all sorts of things, and once again, medicare is actually -- has much great greaterer greater -- [inaudible]. just understanding that the financial collapse that is medicare, it dwarfs the size of -- or stress that's coming in social security. david: yeah. >> you actually have to start looking at our country that the reality of the demographics, that this is -- i know it is hard to walk away from the politics, but it is the reality of our demographics. the fastest-growing population in our society is getting older. how do you make the math work? how do you encourage individuals to stay in the labor force

longer? how do we get millennial males into the workforce? david: how do you get democrats and republicans working together? and the answer is you're not going to before 2020. congressman we have to leave it at that. great to see you. thank you very much for being here. new york city mayor bill de blasio is implementing his own green new deal. the outrageous details. wait till you hear this, coming next. >> this is a massive undertaking. the new york city green new deal is a 14 billion dollars effort to change things while we still can. nsurance rates are probably gonna double. but dad, you've got allstate. with accident forgiveness they guarantee your rates won't go up just because of an accident. smart kid. indeed. are you in good hands? back then, we checked our zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours...

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david: new york city mayor de blasio shaking the city's developers to their core by declaring that he wants to ban glass and steel skyscrapers from the city's landscape but is such an idea feasible for a city in which such structures are one of its main attractions? what do you think? >> there's only one answer to this type of craziness, legos. that's all. let's use legos. i'm done. >> okay, you are done. he's not saying retroactively. you have all these beautiful buildings here. there's barely any space anyway with hudson yard going up. think of all the birds you will save in the future too. >> that's his vision; right? that we're not living in glass skyscrapers that we're in nomads or something? >> i think it is a good thing,

why not? >> because people pay 20 million dollars or more to live in these amazing glass skyscrapers. considering it is national exploit europe day, we should be thankful that these are created because when people celebrate new york, they celebrate the skyline and bill de blasio -- >> de blasio has gotten tons of money from developers. this is going nowhere. this is absolutely empty talk. it doesn't even make any sense to me. sorry. i don't believe it. >> he passed a bill, though, he passed a bill enforcing strict new standards on large buildings. >> but we're going to have glass and steel skyscrapers that are better for the environment. whatever. >> you can't fly planes with windmills and you can't build skyscrapers with wood and legos. >> all the regulations do is make it more expensive for new construction, widening the income inequality and making it more difficult for to live and work and live their lives. >> that's true. david: while it is not retroactive they want to retrofit the current glass and

steel structures that exist if you don't do it there are million dollars fines. he didn't mention whether it was million dollars a day or not. >> driving people out of new york. david: more of the amazon business. thank you for joining us. we will see you back here next time. ♪ liz: i'm elizabeth macdonald. speaker of the house pelosi just held a conference call with house democrats to discuss their next move after the mueller report. they are debating whether they should go forward with impeachment proceedings. edward lawrence is live at the white house with the breaking details. edward? >> yeah, liz, president donald trump responding to the subpoenas that the democrats are putting out trying to get his financial bank records from banks, responding with a lawsuit to stop the banks from giving up his financial information and rng