david stockman, i like david a lot, he is very concerned about spending he is wrong, not assuming what the corporate tax cut can actually do for the overall economy, charlie. >> right. what he is saying, what a lot of smart people are saying we'll not get the bounce of gd president of growth to pay -- you have to get gdp 3% and above to start paying down deficit. trish: you have a lot of smart people, jamie dimon. >> yeah. trish: i know you're not crazy about the at at that fed but they give a five handle. >> i take jamie over those guys. i say one thing. this is something that is not going to be very, very much well-embraced by our viewers. president trump had a lot to do with the fact that so much retail plowed into stocks at the end of the he endlessly touted the market. he should be touting the economy, his policies. stocks go up and down. often corrections don't have to do with fundamentals. they have to do with certain sectors are overbought, oversold. trish: you don't like him taking any kind of credit for the stock market, even though the stock market is barometer for growth? >

i would say if you're a investor -- cheryl: david stockman has thoughts about the doomsday.glad you brought that up. i want to to to charles payne before we hit the bells. all that concern about the economy and fed, is it overblown? >> i think it is absolutely overblown. last time repatriation tax under george bush, first three quarters of 2005, last three years, america grew more than 3%, 2004, 2005. cisco last week said they are bringing back 67 billion. 250 billion with apple. we're seeing more money coming back. i'm confident. ride the waves out. do what tough do. don't get shaken out. 3% never crashed. 3% 10-year yield never crashed the stock market. cheryl: minute and change to go. final thoughts? >> i think everybody is talking the same story here. there are ways where this does goes sideways but there is a whole lot of daylight between now and then. if you are investor, cliche for a reason, take what the market gives you. buying opportunities on pullbacks this is one right now. whether or not there is long term catalyst will push everything down seriously, or cause r

neil: that was david stockman.like david stockman's we put on a two-year hold anything approaching budget austerity, huh? >> yeah, there's no austerity to be found anywhere on any side of the budget. this is honestly quite possibly the worst budget deal i can recall that it is two sides saying i want everything i can possibly think of and i don't want to pay for it, and the other side says i'll give you that if can i have everything i want and not pay for it. that is children negotiating and that is where we are in this budget deal. i can't say enough bad things about it unfortunately. neil: so what happened? we were already running deficits, big one this year, likely big one next year, the cynic in me could say add it to the other red, you say? >> yeah, if you're goal is to hit rock bottom as hard and viciously as possible, we're moving towards that. neil: what does it mean to hit rock bottom? what are you saying? >> two ways we'll fix the fiscal untenable situation, either from political leadership or some other

david stockman down believe it. a lot of smart people doesn't believe it. david: he didn't believe it when he was working with reagan. you put your finger on it. we have to move on. we have so much breaking news. gary cohn and president trump talked about a phase two. that was before the markets went down. that was a week ago. charlie, good to see you. thank you very much. melissa. melissa: here to react is ned ryun. gop strategist, former speechwriter for george w. bush. founder of american majority. thank you for joining us sir. >> absolutely. melissa: what do you think is going on in the market? is reacting to all the spending? >> that is some of it. melissa, spending in d.c., you think what we spend most of our federal money, 70% is entitlement, welfare, debt payments. we're talking about spending more money at some point. we have to have a serious conversation about d.c. spending habits. at some point you actually will have to figure out how to pay for things. and i don't know if we have enough serious conversations with people right now between republi

david stockman is not a left-winger. >> okay. david: nevertheless he does have fears about, he never really believed in the supply side-view of economics that if you cut tax rates you get more revenue as a result of more economic activity. but he does make a good point which is that there are a lot of bonds for sale on the market. you have the treasury will have to issue a lot of bonds if it has 1000 or one trillion dollar deficit over next year. >> right. david: the fed has to unwind $600 billion worth of bonds. with all the bonds on the market they will have to raise rates in order to sell the bonds, and that is causing a problem, right? >> that is simple economics but people may step up to buy those bonds. david: that's true. >> it may be -- david: buy it with money they make selling their stocks, right? >> maybe. maybe they buy it, maybe the chinese want a safe haven to put their money because globally china has got some issues. david: good point. >> this is a dynamic process, if the economy is growing people have more money t

a senior managing director david stockman joins us now, he was a republican congressman and director he office of management under president ronald reagan. david, good to see you. i am looking forward to these next few minutes. fund this government and raised the debt ceiling, should you not put the two together? >> you cut but it could be impossible. cashreasury will be out of in early march, then yesterday the treasury said we will have to borrow, $617 billion in the next five months. which means they need $21 trillion debt ceiling by june 30, which i don't know where the votes are coming from. betty: are we headed towards a disaster? >> we are headed towards a disaster because if we get to october 1, fiscal year 2019, this is your 10 of business expansion, at that point will be the longest in history. they are ballooning the debt to $1.2 trillion -- in other words, it is going to whack the revenue addingbillion, they are hundred billion dollar to appropriations defense and nondefense. they have a huge disaster think to fund, trump promised he is going to bail out obamacare subsidie

plus, olympic gold medalist apollo ono is with us this morning, as well as david stockman to weigh intake a look at the markets this morning. futures are indicating a rally at the start of trading, up 300 points on the dow jones industrial average, up 70 points on the nasdaq. this after stocks rebounded on friday. joining us is tennessee congresswoman, marsha blackburn. there was also upset about the budget announcement last week, basically saying we're in it for as long as the eye can see, trillion dollar deficit. how do you see it? >> we had to correct the issue with our military and we had to get them out from under that obama-era oppression. when you're losing more of your troops in training accidents than you are -- than you ever have, you have to fix that. so that is what we did. and i have to tell you, i was honored to stand with our troops and stand with the president to get this fixed. because that had to be done. >> maria: jack keen comes on the show a lot. he said it repeatedly. he said 50% of our planes are not flyable. >> that's right. we cannot get them into air. and if

. >> former white house budget director david stockman has called the new fed chair, quote, janet yellentie. coming u wllp,e' get his take on powell's capitol hill testimony powellwhen it might be timemony to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. 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. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bru

maria: yesterday we had david stockman and he was upset about the budget numbers, what about the readinessck of our military, what about all of these accidents that we keep having, what about the fact that 50% of the planes are not flyable, he said that none of that is true, absolutely is not. we don't need all of the money, we need to stop men and women all over the world, why are we still in afghanistan, why are we still in iraq, this from the person who actually was reagan's budget director, he quit, he was upset by spending levels in reagan administration, what do you want to say to him? >> he has a different view of what america's role in the world is. he wants to disengage from the world. there are other people who want to do that in both parties to be sure but i fundamentally believe in the president's path and simply put america back on world stages, global lead the other help stabilize and secure the world and help the economy, the world economy to prosper, when the united states is exercising strong leadership through its military and through the strength of its economy, the worl