jillian: our next guest says a democratic sweep of washington, peter morici joins us.lian: the mayor of washington dc calling for statehood following the capitol hill riots. >> first we must get statehood on the president's desk in the first 100 days of the 100 seventeenth congress. congress must immediately transfer command of the national guard from the president of the united states and put it squarely under the command and control of the mayor. >> mayor bowser calling on congress to create a nonpartisan commission to review law enforcement. >> critics are calling anderson cooper and elitists and snob over remarks he made while covering the capital right. >> it is stunning and they are going to go back to the olive garden and the holiday inn they are staying at. >> cooper is a multimillionaire and air to the vanderbilt fortune. many on social media taking aim at the siena necker for employment group was of lesser welfare lesser class. jillian: us market soaring to record highs as donald trump pledges a smooth transition of power. >> a new administration will be inau

let's ask university of maryland economist, peter morici.eter, your overall assessment what we've seen so far of the biden economic plan? >> it is very hard left. today we heard a lot about unity but a string of executive orders that reflected those he defeated in the primaries because he was too far left. i'm very disappointed in its stimulus package. it waste as lot of money as opposed to focusing needs he identified in his speech, people who can't meet the mortgage payments, people unemployed. we can aid them without spending $2 trillion by focusing money on them. charles: yeah, to that point though, peter, i think the idea really is that you know, you put a lot of people forward whether it is folks who can't pay the rent, whether homeless, firemen, whether people who work in hospitals, you put them forward as sort of a smoke screen if you will to you a chief other larger ambitions. let's face it, these ideas, spending we already know about goes far beyond the covid-19 crisis and toward long term, left-wing ideas on what the economy shoul

peter morici, thank you very much.e wee were, but the big news has shifted to washington, d.c. and what you're look at on capitol hill as i hand it over to liz claman. liz: yes. charles, we need to get this right off the bat that we can now report a mass security breach is in progress at this very moment at the united states capitol. congress in process, of course, to certify the electoral college votes, that has now been halted. capitol hill is on lockdown after pro-trump marchers stormed the building. we are hearing all kinds of reports that chaos is erupting inside. a massive security breach as pro-trump protesters as we are hearing from our reporters inside the capitol building. tear gas has already been used, members of congress have been wearing gas masks as security attempts to bring things under control. they're not quite there yet. these pro-trump protesters, and you can see what we have

we are asking for a chief economist for us international trade commission peter morici, thanks for being a text message from a friend yesterday saying taxes are going to go up. what do you say to that? >> they may well go up. it depends how the democrats choose to use their reconciliation option. they pass one or 2 budget bills each year the reconciliation without any republican thrust into comes to joe manchin. if he goes along with these tax increases they will happen. >> quick look at biden economic executive order signed on day one, rejoin the parish climate accord, that will cost money canceling the keystone pipeline permit with immigration priorities and memorandum on reserving and fortifying d's of the aca. the tax question, you're a big fan of discussing inflation so my question, the biden policies he enacted yesterday, will it lead to $10 a loaf of bread you >> the kind of spending he wants congress to undertake would lead to that kind of inflation. it is not so much a debt problem. the federal reserve has been buying up the new debt the treasury has been issuing for the stimulu

peter morici. he is an economist. peter is joining us now.iled presidency when you look at his economic accomplishments. >> absolutely. president trump brought unemployment down to record low levels. he reduced poverty to the lowest levels it has been since the 1950s. we had notable accomplishments for minorities and women in terms of rising incomes especially for minorities and they dramatically increased the net worth of minorities over the last three years. it was overall a very solid performance and these were all accomplishments that evaded barack obama. you know if joe biden returns us to the obama economy he will simply finish second or third across the last three administrations. he is going to be significantly challenged with his california mentality and from a basement in delaware to raise the economy to the level of donald trump. because his policies are so wrong-headed. stuart: what do you make of this sudden desire on the part of some big democrat states to open up and i'm thinking particularly of new york state and the timing of

international trade commission and great guy peter morici.ew year to you. >> happy new year. above all i'm a friend of griff. griff: listen, i'm so excited you are joining us this morning because you actually say that by deposit be may have a hard time undoing the trump tax cuts as we saw in that interview he is pretty determined to do so. >> he needs 51 votes. he gets one tax measure every year where he only needs a simple majority in the senate. even if the republicans were to win both races in georgia, that means his majority in the senate would have to be 100 percent. all the democrats would have to line up. he only needs to lose one or two and his tax cuts are going to cut much deeper than those people over $400,000, for example, raising the cap on social security. >> there was a lot of obfuscation and frankly not plighpolite to call the presidef the united states he is not president yet. let's just say it's a big fib. >> professor, let me ask you all with the trump tax cuts, biden also wants to raise the corporate tax rate. now, preside

peter morici joins us. he's an economist. ay that job loss and the 498,000 jobs lost in the restaurant and bar business is entirely or almost entirely the result of the lockdowns. what to say you? >> i agree, without the lockdowns, it would be about 300,000 jobs and certainly a slowing in the job market indicating a tough winter because of covid, but nothing that is not insurmountable. profits up 45% in the second quarter year-over-year, that's what's driving the market with the market priced in a spring recovery and looking six months forward. it is a by. stuart: hold on a second, i told viewers on fox news that the primary reason for this big rally in a stock is that a mountain of money, a gusher will be hitting wall street and hitting the economy. is that out point worth making? >> yes. one reason we will have this big recovery in the second and third quarters is that gusher that will support consumer spending, stock buying and so forth, but increase consumer spending, you know a positive situation for manufacturers for the