oh. i'm jamie colby for "strange inheritance." and remember -- you can't take it with you. >> i don't think so. ♪ >> breaking news president trump is sitting down right now with japanese -- japanese prime minister shinzo abe at the white house, we are expecting comments from the president and the prime minister any moment, we will bring them to you as soon as we get them. >> the gdp smashed expectations with the economy growing at an alian rate of 3.2% in the first quarter. it can all be taken away when you start putting the wrong people in office. >> president trump touting his booming economy and robust gdp numbers out today, the first first-quarter gdp since 2015,

the president intensifying grave warnings about keeping momentum going. hi, everybody, this is bulls&bears, joining in the panel dierdre bolton, jonas ferris, gary b. smith, could all disappear if far-left democrats and socialists get in the white house in 2020. listen. >> make america great again has been great, but we really made it great, we have made it great, we brought it back and we are thinking about slogan, keep america great because you have socialists and far-left democrats that want to destroy everything that we've done. >> so is he right, how can the socialist movement gain ground if the economy continues to see this kind of growth, what do you think? >> well, it can't because there's never been a socialist revolution on hot economy.

not always bad economic numbers which we don't have but blatant starvation or income inequality of epic proportions. if you look at the way things were in russia, it was much worse than you could ever imagine. it's not really a socialist revolution we are facing, what they are really talking about is income redistribution. it's a mild form of socialism at best, there's not real talk of anybody confiscating assets. if they want to do medicare for all, take over hospitals and insurance companies and merge them to va, what they are talking is what obama was doing which was things raising taxes to pay for increased health care that's paid to private companies that is income redistribution, conservatives like that income that comes from low regulation and not from the government. these people like it to be the government.

that's the subtle difference. i would blame republicans for using redistribution. still bad for the company but not -- >> that's a great point. i think that is what it is, you're right, we are not seeing the government come in and take over all of these private businesses -- >> yet. >> in the meantime i do think it's going to be harder for senators, sanders, warren, et cetera, to make a case going super far left when you see gdp growth as it is, record low unemployment, wage growth for the first time in 10 years, i think their argument gets harder, i think we are just begin to go get closer to this prim ier -- primary season and happens every single time preprimary where the party that has more candidates, the fringe group that is a louder voice, we saw with the last candidates, had very extreme views if you're trying to get an independent vote and that's what we are

seeing now. >> you might say dierdre that the fringe candidate with loud voice won the last election -- >> he was outlier, i think, though. we didn't consider trump a fringe candidate and that's what people went for. >> first of all, the president is doing exactly the right thing politically today which is sometimes unusual for him and that he's making exactly the point that he needs to be making, the economy is strong, why would you do anything different, that will be the entire focus of the campaign when he's on message from now until -- until election day. but i just want to point out quickly that it doesn't completely add up. i mean, the economy -- we are in ninth era of economic expansion, you know these things better than i do, david, and that didn't stop voters from rebelling against everything basically last time around, so i'm not sure that voters, all

the voters necessarily care about what president trump is saying about the economy. david: when you say last time, you mean the midterm elections, right? >> i meant when he was elected president. we were in the what, seventh year of economic expansion. david: very, very mild one. >> well, i'm not sure that that -- i'm not sure that that point is such an important one for a big part of the electorate, in other words, people are very unhappy with the economy for the same reasons they were 3 years ago. >> i want to go back to each of the comments i heard. david: we only have an hour, gary, but go ahead. [laughter] >> 45 minutes. look, jonas' point, it will not be easy, i think it is, i will get back to that, for dierdre's

point talked about socialism not taking over industries and back what the government does not take industry but they constrict as boa constrictor with regulations, people would argue that the coal industry, for example, has been so shocked by regulations that it's basically controlled by the government as is the healthcare industry, they're not taking over by the government but there's so much red tape they are not allowed to operate capitalistic, democratic industrial entities that we used to know and love. getting back to jonas' point and building on point, the case is easy to make and it's a case the -- the left has always made at least in the last 8 years or so and that's the class warfare. david: yeah, i think you're right. >> why should everyone be so rich and not you out there even though everyone's quality of life has significant increased.

david: let me pick up on that, gary, bernie is trying to make the case, no matter how many jobs there is, inequality is bad enough to demand that the sort of massive redistribution that jonas was talking about, better to be equally poor than better off. i'm not sure that's a sellable message. >> well, i think -- david: one at a time. >> i think it is a sellable message, pete, we use today admire the rockfellers and melons of the world and why should they be so rich and we don't have a bentley out front. that's the message. david: yeah. >> to gary's point -- >> okay, i'm sorry, we have new tape of president trump, he's with the prime minister of japan, listen in. >> fairly quickly maybe by the time i'm over there, but it's moving along very nicely and we will see what happens.

>> president, is there -- [inaudible] >> well, i don't want to talk about that now. we have other things that we are talking about but i will respond to that question at a later date, okay. >> follow-up on your comment -- >> if you look at -- if you look at what's been happening and all of the things you've been seeing with the insurance policy statement from two agents that are now gone, if you look at many of the elements of intrigue and frankly we will be seeing a lot over the next couple of weeks, a lot of people haven't seen what took place here was a very, very terrible situation, how this whole ridiculous

35 million-dollar unlimited personnel, how this all started, i think you will find great interest, most of you know the answer to it anyway, the fair press, the good press, really the people that know what they are doing, the people that are, indeed, fair, they know the answer to it, so we are going to see. it's going to be very interesting. what took place over the last period of almost 2 years and really before that, really much before that, in fairness to robert mueller, things happening before he even started and what took place is a disgrace to our country and it hurt our country and a lot of people have been let go and i don't mean by me, dismissed, they've been fired, they left in disgrace and it really is a sad moment for the country but i think ultimately it's going to be very healing, thank you all very much.

david: and that is not everything, we will be hearing more comments from the president as he meets with the prime minister of japan, we will play those for you as soon as we get them. edward lawrence is standing by, all the questions about mueller roberto. we were hoping to hear if they'll be new trading plan with japan, we may hear it, right? >> i understand president did talk about trade with japan, saying it's very important, in fact, the prime minister of japan shinzo abe wanted to talk about tariffs on both sides there, maybe donald trump claiming he's a negotiator can try to negotiate something face to face. i can tell you u.s. stock market futures you from trade sources are theying -- saying that the s with the japanese are not going as they thought. agriculture only and then work on greater trade deal with japan. they weren't able to get to that point today, however, you have heard in the oval office they are talking about trade, that's high on the mind, the president

also saying that the president will be buying missiles from the united states and something they will talk to prime minister about. trade did come up and play heavy in this. obviously the mueller report and the president touting the gdp, shinzo abe. david: here more from the president, let's listen. >> the first quarter usually will -- the worst quarter. also the dispute that we had during the quarter. it's far above expectation. i guess many people would think it was be in the 1's, maybe between 1 and 2 but 3.2 is great. first quarter seems to be the lowest, we are off to good start for the year. we had the previous administration's low interest rate, quantitative easing, money into the system, 3.2 could have been 5, could be

a lot higher, could have been 5, it's quite a surprise but for a lot of people was surprise, very big number. the prime minister said moments ago congratulations to your numbers. the numbers were a surprise to japan. [inaudible] david: you probably guessed what is happening we are going to hear a lot of japanese, the prime minister of japan does not speak english and he does not understand english, what the president says has to be translated, he speaks in japanese, that has to be translated into english, it's not simultaneous. that's why we broke in. i think edward is still with us, are you there, edward?

>> i am. there's going to be a lot of face time between the two between now and june 20th, the president, the meetings today, several meetings talking about national securities, they will talk about north korea going forward and trade. david: edward, hold on, he's back. >> was terrific and the weather was very rough, they said we might have to start in an hour, i said i hope you don't have to do that because we can't keep the great gentleman waiting and we have the greatest pilots in the world and we have awfully good equipment in air force one, he landed beautifully, no problem. [speaking in native tongue]

>> and tonight the prime minister and the great first lady of japan will be having dinner with us celebrating our first birthday and i said to melania, would you like to have mr. and mrs. prime minister and mrs. abe join us for your birthday and she said i can't think of anybody i would rather have. david: happy birthday to the first lady, we didn't know that, a nice way to celebrate at the white house dinner. edward, you have notes of exactly what was said in the full conversation between the president and the prime minister. >> right, coming up next is going to be trade, just to finish the thought before, a lot of each other, they are playing golf tomorrow morning and the president does talk about that, very excited and going in the

end of may to new emperor of japan, meet again with prime minister and the president is talking again. >> i think a lot will be accomplished, we are talking about a lot on trade, very complex with what's happened to brexit and what's happened with various other trade deals throughout the world, we are doing very well in our negotiations with china, people are leaving for china on monday and we are getting there could be very interesting, we will see. i don't like to talk about things and i won't talk about things because who knows what happens, a lot of strange things can happen for better or worse but we are doing very well in those trade negotiations and i absolutely have big trade negotiation going on right now with japan which is i would imagine the primary reason that the prime minister is here. david: all right, as you can tell, i know the president hates

this as much as we do when you don't have simultaneous translation but, again, we have a fly in the wall in the form of edward lawrence who knows exactly what was said, go ahead, edward. >> he's going to talk about playing golf with shinzo abe and prime minister will make several comments, one of them talking about trade, the prime minister of japan says they need to work and address tariffs on both sides here as i'm watching as translation is going on, the prime minister of japan really interested in trade negotiations with the united states and the united states with china, david. david: so our farmers, edward, good to see you, thank you very much. we are going to take a short break, take 2 of former vp joe biden presidential campaign had him on the view, continuing his attacks on president trump, without mentioning anything about his policies, is that a smart move, we will ask media buzz howard kurtz, he's here

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interview painting himself as the antitrump, listen. >> the rest of the world, they look at us, my god. >> what happened to america? >> you have spoken, we've not led by the example of powers but by example. the power of example. it's not a joke. it's example. it's why the rest of the world followed us. they are looking, like my lord, what's going on. david: howard kurtz, host of media buzz joining us, 3.2% gdp it's hard to come out with competing economic policy, doesn't he have to roll out something soon? >> if you're going to come up with infrastructure plan or economic plan or 10-part healthcare plan, you will probably not do it on the view. i cut joe biden little bit of slack as second day as candidate and also the ladies of the view didn't press him for economic

policies. the bigger problem for him and we will be talking in the second, he seemed low energy during the hour and was on the defensive when asked both about the women who have accused of unwanted touching and anita hill not accepting what was a phone call of regret for the way he treated her. she's still unhappy about the clarence thomas confirmation hearing. it wasn't smooth-sailing for the vp. >> i heard comments that she said saying that the phone call left her i think her word was unsatisfied. she didn't consider that an apology, getting back, howard, trump and antitrump, that was a lot of what secretary of state hillary clinton did, i'm not trump, so vote for me and that didn't work out for her. so does he have to pivot, what does he have to do now? >> well, i think it is true that neither joe biden or the 126 democratic candidates can run simply as antitrump, he's terrible, i'm great. you have to stand for something and forward-looking agenda.

so i think, you know, biden nets to get beyond all the scrutiny of anita hill and past record and, look, senator for 30 years, talk about how if he thinks that the good economy, maybe he won't last beyond another year, if he thinks it's not helping all americans, if he thinks benefits are being distributed unequally, he needs to make that case. >> obama didn't enforce him either which was interesting. >> that was because president obama was not endorsing as is standard in primary. david: howard, adam in san francisco, i don't exactly agree with you, i agree there will be plenty of time for him to talk policy, he'll talk, for example, a lot about health care and how the republicans want to take it away from you and i want to preserve what you have in health care and make it better. i think he is making exactly the right point. that's what happened in the midterms, a lot of swing voters said, we want to vote for the party that doesn't represent

president trump. i think he's making opening bid. >> well, again, it's very early. remember, at the same time i think that it's evident, any democratic candidate is going to say it's been crazy 4 years, i'm the alternative to donald trump, but if joe biden's secret sauce is going to be his connection to white-working class voters, rides the train in states like pennsylvania where he's from in wisconsin and michigan, he has to offer something tangible not necessarily this week but tangible to those voters, some of them are not -- >> jonas ferris, i want to counter what adam said. the special sauce, secret sauce of joe biden is that -- it's not

really strong, kick the can through the primaries, play the antitrump card and not have a lot of people want to go out and vote against him. that's the only magic. isn't that his special sauce? >> well, he has the highest favorability rate negotiation the field, he hasn't gotten beaten up yet. so maybe people like joe biden and many people who didn't like the obama administration, of course, he more so kamala harris or bernie sanders will carry that as former vice president. >> howard, first of all, big fan of your show, fantastic job. here is my take on joe biden, i think he is a candidate right out of central casting of 1965,

he would have been played by charles epson in a movie and no one knows who he is and doesn't appear to anyone. you are an expert on the media. i think that guy that is came out of mount rushmore have come and gone, i think he has zero traction whatsoever but you're the expert, i'm curious your opinion? >> joe biden is 76 years old. donald trump is 72. he's out of with instagram and new styles of campaigning, at the same time you have all the other people running pretty hard to the left talking about medicare for all, free-college tuition, they could divide the bernie sanders, that might leave

biden in the center lane. that in the end might be more important. i think he would be a pretty strong general election candidate. i'm not sure he can get through democratic primary. david: bottom line he does have policy record, he did standby the obama policies and i remember very well that recovery summer after the obama stimulus fail today produce all the 500 jobs he said they would, they had amount of jobs, that record that he had during the obama administration will be put forward no doubt if he doesn't come out with one of his own. howie, great to see you my friend, thank you for being here, i appreciate it. his teeth look 30. he has great teeth. comments from bernie sanders in spotlight, why critics are calling him out for

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david: breaking news, good news for elon musk, tesla ceo has

reached agreement with sec over his twitter use according to new york federal court filing, the agreement specifies when musk would neat approval by tesla lawyer before making any written communications about any topics that concern tesla and the stock is trading up a little bit about one and a third after hours. we will keep watch on that. meanwhile presidential hopeful bernie sanders under fire today for comments that he made 50 years ago or almost 50 years ago during first senate campaign in 1971, sanders told newspaper in vermont that senate millionaires are, quote, immoral and, national disgrace, of course, thanks to new york times best-selling book senator sanders is now a millionaire senator himself, so, hang is bernie immoral or at least hypocrite for becoming a millionrary, what do you think? >> well, david, i don't think hypocrite begins to describe, look, i don't think bernie sanders understands what exactly

what capitalism is, capitalism is working harder than the next guy and reaping the wards for your hard work. look at his career, he went to a very prestigious university, university of chicago which is private by the way. he worked his tail off. no, he worked hard and graduated well top of the class in chicago. you know how he became mayor of vermont, he worked harder than the next guy, you know how he sold copies of the book, he worked hard. bernie sanders has rewarded by working hard, that is capitalism. now he's a millionaire, now he wants to turn everyone else and say, you know what, don't work as hard, i'm going to level the playing field and won't be -- i have a quick question for you, gary, when you and i were

shooting mouths off together in 1970's on television, do you agree everything that you said back then when we were shooting the breeze, i'm sorry, i meant the 1990's? [laughter] >> i have not said one that i think i owned. >> this guy said something silly a long time ago -- by the way, a millionaire isn't what it was in 1970's. i don't think we should spend too much time on this one. >> specifically to that point, $6.2 million, he's not quite there yet, we should all hope he makes more money, we should go buy the president because when he's president the less likely he will raise taxes. that's generally the way it works. i looked at tax returns, i'm suspicious how schedule c deduction he has in almost having a million dollar in sales book, our president has said, makes them smart not paying taxes and this guy has no

deductions. >> 26%. >> he's moral. >> i'm still on the mike meyers. ly ask a million dollars. if you write a best-selling book, you can be a millionaire too, i'm kind of with you, i'm sure people said crazy things out loud in the 70's that may no longer agree. david: one thing he said in 70's, people in congress should be paid the average salary of the people from the state that they are representing. he said that until he became a member of congress and suddenly his salary went up. i agree with gary, his spokesperson said senator sanders family has been fortunate and he is grateful and that's why, he won the lottery. he wasn't fortunate, he worked hard and his family worked hard, his wife work hard and now they have a million dollars.

the american dream. >> david, i think that members of congress should be paid a lot more so they we don't have to rely on rich people to run for office. pay them a whole bunch of money and expect they do a good job. >> with health care, offer what they get and we will find a quick solution on health care. >> as a good socialist he should give money away and live in shack somewhere. >> most of the money selling books, democratic socialist, that's a hitler joke. david: you don't joke with hitler. one thing i thought you learned. >> rainy friday. david: moment of truth, if something isn't done soon, the program could go bust in less than 20 years, congressman tom reed is working on a fix, he reed is working on a fix, he joins us next hey, who are you? oh, hey jeff, i'm a car thief...

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david: now report out this week reveal that is starting in 2020 social security trust fund retirement an disability insurance will begin drawing down to pay benefits, now all that means simply that the program itself could become bust by 2035, but congressman reed, ranking member says gop has plan to secure those benefits without raising taxes. good trick if you can pull it off congressman reed, thanks for joining us, how do we keep social security solvent without raising taxes? >> first and foremost we have to show we are committed to saving social security and we have to act earlier because if we don't act soon, the tools that will allow us to fix the problem without raising taxes will be removed from the arsenal as it takes onto solve social security and make it solvent for generations to come and so how you do is 1, you commit to do it without raising taxes, second grow the economy, get more workers contributing into the

system than we presently have. >> so congressman, you know, a lot of people call this kind of reform third rail in american politics, what can you propose that would be palatable to people who vote, baby boomers? >> i think you just have to be honest with people and say, look, we are committed to saving social security. i'm not son of -- i have 11 older brothers, raised by single mother, my father passed when i was 2. we were living on social security benefits, we are committed to saving social security because i've seen it firsthand in situations living through it myself where it needs to be a program that's secure. we also have to have honest conversation about life expectancy, we are living longer as a nation than we did before, so if you do a combination of economy, i think most americans will say you know what, that's something that i can live with

going forward. >> jonas ferris here. unfortunately people don't have 11 kids anymore. 2% at one point. that's largely because enough people paying to relative to people getting benefits. with the slow growth economy population wise like japan without allowing more immigration, how are you going to increase the pyramid formula without going to 19, 20% tax rate. >> your point is very well taken. immigration reform will be part of the solution too because we need more workers, we need population growth, we need workers that are going to have the opportunity, that's why the gdp numbers that we saw, 3.2% growth here last quarter, those are the kinds of numbers that we need to continue to see in order to solve this without raising taxes, but i will just tell you the message that i clearly want to deliver, if we don't tack it

will problem soon and say in leadership, well, this is a 2035 problem, we don't need to worry about it right now, we will lose the window of opportunity we have to do this without tax increases and closing quickly and we may be able past that point even today but we are very close if that window shutting down. >> congressman, it's gary smith, thanks for coming on the show, so it sounds like to me that your solution is to essentially raise taxes, is there any thought to -- since people are living longer to pushing out the age where people can start to get social security, i believe now it's 62, maybe a little different if you're widow or widower and then the other -- the bigger question for me, social security was never meant to be replaced all of someone's retirement income. it was only supplemental, now it's become a government-safety net, if you will, is it so -- is it really the government's job

to take care of people from retirement till, you know, their end of days on earth? >> that's a great point, gary, and you know, first and foremost, we have to recognize social security is the backstop, antipoverty program at its core and inception for elderly folks and we want to continue to encourage more retirement opportunities, more saving opportunities because you need all of those retirement options in other -- in order to get people in secure fashion. we can do this, we can do this if we do it sooner rather than later. when you talk about age qualification, 62 now and they moved to 67, it's going to be full retirement age here in 1986 reform, that's an honest conversation we need to have. people are living longer, maybe they'll accept delayed age requirement but we can't do it to the present seniors, we can't do it to seniors that are within a generation of retirement, that's why we have to act sooner rather than later, the longer we

wait the window of changing impacting folks close to retirement and don't have a chance to reprogram their retirement plan. >> congressman, adam with fortunate magazine, let me try to pin you down a little bit. i'm sure you and staff have done research on this. what should the new age be after 67? >> well, that's still too soon to put that out there in black and white because it changes each year, but you moved the needle a couple of years, you really are getting us into a solvency situation. >> so 69 is your answer, a couple years over 67. >> it depends, you do have to have a conversation about the early qualification age. >> we have to leave it at that. i hope there's a way to opt out of the system, i want to take my money and move it in some bills,

criminal rate we get from the social security administration right now, it's just awful. >> you can get better rate -- >> we are looking for it. >> okay. >> send it over for it. david: thank you very much. president trump calling out president trump calling out governor newsom, what or who 2,000 fence posts. 900 acres.

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david: the president touting off on the price of oil and debate over gas tax in california blaming governor gavin newsom for pushing gas prices to over $4 a dollar. spoke to saudi arabia, all in agreement that california tax on gasoline is causing big problems on pricing for that state, speak to your governor about reducing, economic numbers 3.2%, gdp for what is often worst quarter, looking good, end quote, governor newsom is putting the blame on oil companies launching an information what he says could be, quote, inappropriate industry practices, whatever they are that are causing prices to soar up. who is right here, gang? >> well, i tell you -- certainly not the oil companies. you look at the price history of

gasoline in los angeles, inflation is just lower than it was 10 years ago, it's significantly lower than it was even 5 years ago. if it's oil company shenanigans they are going about it the wrong way. this is supply and demand issue. they had refineries shut down in los angeles, san francisco, that's all it is. blaming the oil companies is -- silly. >> we have two politicians speaking nonsense although it's really great that we could hear all of president trump's david, thank you for that. [laughter] >> i know, it's just -- but california does have relatively high gas prices compared to the rest of the country and it has, you know, especially formulated gas and that ends up driving the cost up in california, there's nothing new to see here, nothing. >> i was going to say big oil producing state, oil-consuming state and what i think is funny

that newsom and the gety family have been close for something like 3 generations so i just feel like it is a small world. >> rich state, they pay one of the highest rates for electricity too. when you -- there's been manipulation in the state. in 2002 enron there was manipulating market. a lot of it is not in my backyard policy. again, that's also wealthy state, a lot of factors going on there. david: all right, you think you can eat like a billionaire, the oracle warren buffet and choices oracle warren buffet and choices that might have you rethinking

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why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. we're the tenney's and we're usaa members for life. call usaa to start saving on insurance today. david: wait a minute, breaking news, that's wayne lapierre. this is extraordinary story, he has told the group's board that he's being extorted and pressured to resign by the organization's president, man known to many people in fox world oliver north, he's now the president of the nra over allegations of financial improprieties.

lapierre refused to account for himself, instead calling on them to, quote, see this for what it is, a threat meant to intimidate and divide us, end quote, we will bring you more details in this very interesting story. meanwhile, what does a man who can buy anything eat every day.

>> life is not fair, he clearly has energy than most of the rest of us and smarter than most of the rest of us, so what are you going to do? >> here is my take away, if he wasn't democrat, politically correct would be all over them. because he's left, hey, enjoy it. it's great. >> all the fast-food, hamburgers to feed the guys. these were sports players. the media was gasped.

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