david: david stockman, former reagan budget director, and "trumped" author. david, isn't it nice finally somebody who has concern for those of us who pay so much of our paycheck in taxes? >> yes, exactly, at last. also focus on balancing the budget after with run up 20 trillion of debt in the last two or three -- david: they say they can do it in 10 years. do you believe them? >>pplaud ther the target. the math of getting there is totally unlikely or impossible but at least they laid out a target and have 3 trillion worth of real spending cuts in the budget that would help stem the red ink that i think is a great danger to the country. david: you heard adam specify, i think it is a good specification, these aren't always cuts in terms of cutting from 100 to 99. it is cut in the level of increase, right? so instead of growing from 100 to 110, you grow from 100 to 105 for example? >> that's correct. we're looking 10-year budgets. that is how they do it. built in 50.5 trillion of spending if you can imagine number of that big. cutting 3 trillion. that is%. that o

>> david stockman should know as well as anyone what happens to these budgets. be the last time we actually passed a full budget? every year it is continuing resolution because they can't pass a budget. melissa: oh. >> i don't blame donald trump for trying to challenge the status quo on federal spending. it is a problem. they have set aside social security and med he care. about 40% of all federal spending. that is a political decision. the fact they are going to ask states to look at medicaid spending, the fact they will challenge the spending on food stamps, i think the alternative, rather than just letting it run on automatic pilot, is not acceptable. melissa: yeah. of course there will be people lighting their hair on fire over these cuts, specifically to medicaid. while you're increasing defense. you can hear the chorus, can't you you? >> you can hear them saying that but the democrats, look, bill clinton passed welfare reform. he put work requirements into welfare. looks like democrats reverting back to pure welfare party. welfare spending is pernicious. p

so david stockman is a good guy. you know, i'm sure he could be right but i don't think he is. he's wrong. >> when you wore the former hat as ceo of cke you fought against raising the minimum wage. if wage growth what is we need, increased wages have you changed your opinion on that? >> no. actually, that's not true. for the last couple years i've been encouraging the national restaurant association and the international franchise association to get behind an increase in the minimum wage. what i oppose and still oppose, is an increase in the minimum wage that kills jobs. if you get to the point where you're killing jobs, then you're really acting counter to what you're trying to do which is hurt -- help working class americans. $15 an hour clearly kills a lot of jobs. the congressional budget office a couple years ago said $10.10 an hour would kill 500,000 jobs. we have to found a balance to increase wages and we should increase them but not taking away jobs people need to get on the ladder of opportunity. there was a lot of publicity about my being opposed to increase in the m

plus for reagan budget or commit david stockman. stay with us this morning. kick it off right out the fallout thread the firing of fbi director james comey. though he's not going about it in a letter to the comics. he wrote a part of liable if a president can iron fbi director for any reason or for no reason at all. i'm not going to spend time on the decision by the way it was executed. i hope you won't either. this is "the wall street journal" is reporting comey's ouster came as investigation to collision a trump associates in the russian government was heating up. the white house and top republican lawmakers insist he was let go do it version of confluence following several missteps. >> the president ask patients and people not just this department last confidence in director comey a spell. the president was looking at them with confidence and doesn't want the apparent disarray. he wanted it up and running then the pinball. director comey became an issue himself. trade to russian president vladimir putin weighed in on this for the first time. here's what he

stuart: david stockman was in the white house in the 1980s.he oval office and respected the office. >> absolutely. i never saw him in a condition where he wasn't respectful of everyone from the highest ranking to the lowesnking person i saw come through the oval office. he had an amazing temperament. stuart: a gentleman. i believe you have to find in the middle of the night a gift for mikhail gorbachev of russia. tell us. >> a worldwide quest to find the perfect stetson cowboy hat for ronald reagan to give to gorbachev when he came to the ranch, it turned into this big quest because how do you know gorbachev's had size, when you couldn't google that it became quite a project. when we got the hat and gorbachev put it on it fit perfectly although i have to say we got a call from stetson later saying gorbachev had put the hat on backwards. stuart: i like the sound of your book, the president will see you now. congratulations on a great book, hope to see you soon. >> thanks for having me on. stuart: a total change of subject, to the big board firs

very difficult to do, so they are putting a lot of what david stockman used to say, magic scenarios init is sort of meaningless in the sense it will be ever a real budget. it is a document that sets out the trump administration's political priorities. vonnie: i do want to mention that the treasury secretary is speaking at the peterson institute saying the plan with the goal was to unify tax plans they cannot support. thanks to michael mckee and a reporter at the white house. we will be back with that news conference from mick mulvaney in a moment. this is bloomberg. ♪ vonnie: we are awaiting mick mulvaney, who will be presenting the budget, the 2018 budget. we will go straight to him now. mick mulvaney: good morning. it -- wanted to make a brief statement about things probably more important than numbers. folks like me sometimes get caught up in the numbers. we will talk about what happened in manchester, england, briefly. the president sounded up this morning emotionally for a lot of us and called these people who perpetrated this evil losers. a son 11 ort has 12. exit my sent to his

david stockman, former budget director for president ronald reagan, said -- "this budget is dead before arrival, so he m might as wellle out of t town." well, , for more, we go to joe stiglitz, nobel prize winning economist, columbia university professor, and chief economist for the roosevelt institute. he is the author of numerous books, most recently, "the euro: how a common currency threatens the future of europe." joseph stiglitz, welcome to democracy now! can you respond to the budget that has just been revealed? >> it is like everything else, it is made up. you could say it is a collection of lies put together. it doesn't make any economic sense. i don't think anybody has looked at it can fathom the economics. you mentioned one thing, the 3% growth rate. which is the largest deviation in estimate relative to the cbo on record. when i w was chairman of the council of economic advisers, we wanted to be responsible and we always were conservative and very careful getting the views of everybody. one, to make sure our numbers were reasonable. he has made no pretense to be reasonable. w

david stockman, former budget director for president ronald reagan, said -- "this budget is dead before arrival, so he might as well be out of town." in a partial victory for the haitian-american community, the department of homeland security announced monday it has extended haitians' temporary protected status, or tps. tens of thousands of haitians were given tps after an earthquake devastated their country in 2010. the new extension will allow them to continue to legally reside and work in the u.s. for the time being. immigrant rights advocates cautiously welcomed the decision, but voiced concern the dhs failed to extend tps for the usual 18-month increment, leading some to wonder if this is a precursor to mass deportations. we'll have more on haitians' temporary protected status later in the broadcast. in kashmir, protests erupted today amid news that an indian military officer has received an award from the indian army, after the officer reportedly ordered his soldiers to tie a kashmiri civilian to an indian army jeep and parade his body through the streets the last month. viral vid

charles: david stockman, ladies and gentlemen. neil: the guests the way you alienate them. holy cow. more mother teresa passed away. can you imagine. well, charles, what i meant to say. thank you, buddy. thank you very much. holy toledo. meantime we're keeping track of a fast moving development. remember the briefest time the president's national security advisor, the trump folks were originally saying president obama is one who given him all the security clearance and the rest. now administration officials from the obama days, we gave you head's up on this guy. all of this, very key white house testimony is coming up from past and present players. and this situation gets deeper and deeper a

i hope they all realize what david stockman, a republican said is that this is budget that is dead before arrival, and among the people, i will not name a democrat, who think that this budget is entirely unrealistic and actually pretty draconian are american enterprise institute and center for federal budget. neil: just address the medicaid portion how that is draconian, what do these people think. >> here is the problem. we're not going to cut our way, neil, out of deficits. we need to grow. neil: we're not cutting. we're not doing any cutting? >> don't take my word for it. the american enterprise institute is not a show for democrats. they're calling it a cut. your beef is with them. neil: no, my beef, if they're calling it that then they're wrong too. just like if you have something budgeted that is going from 100, as director said to 107 -- >> population is growing. neil: that i guess is cut off the growth you assumed would be the case but it is not a total cut. it is not going 100 to $99, right? >> population is growing. this is repeat of the debate, i remember vividly from 20 some y

charles: david stockman, ladies and gentlemen. now the man himself who has really all the answers is neil cavuto. neil: the guests the way you alienate them. holy cow. more mother teresa passed away. can you imagine. well, charles, what i meant to say. thank you, buddy. thank you very much. holy toledo. meantime we're keeping track of a fast moving development. remember the briefest time the president's national security advisor, the trump folks were originally saying president obama is one who given him all the security clearance and the rest. now administration officials from the obama days, we gave you head's up on this guy. all of this, very key white house testimony is coming up from past and present players. and this situation gets deeper and deeper and more involved. former bush 43 spokesperson mercedes schlapp. is this latest distinction, mercedes from the obama administration, president obama himself purportedly he had given the new president to be a heads up on general flynn a game changer? how would you describe it? >>