I COULD ALSO BLAME CLINTON, RIGHT?
IN ALL FAIRNESS, SHE WAS ONLY PRESIDENT FOR NINE MONTHS, IN
ALL FAIRNESS. AND BILL CLINTON GAVE A SPEECH,
AND HE KNEW OSAMA BIN LADEN JUST LIKE I DID, AND HE GAVE A
SPEECH, TALKING ABOUT OSAMA BIN LADEN.
SO WE CAN BLAME EVERYBODY. I WILL SAY THIS.
THE EXPRESSION, THE BUCK STOPS HERE?
YOU'RE PRESIDENT, THE BUCK STOPS HERE.
THAT'S THE WAY IT IS. BUT IT'S ONE OF THE REASONS I
SAY -- AND I MEAN THIS SO STRONGLY -- WE OWE A LOT OF
MONEY -- 19 TRILLION -- I TOLD YOU -- BUT WE HAVE TO BUILD UP
OUR MILITARY SO BIG SO STRONG SO POWERFUL.
GOT TO DO IT. WE'VE GOT TO DO IT.
[CHEERING] WE GOT TO DO IT.
SO POWERFUL THAT NOBODY IS GOING TO MET WITH US.
NOBODY. I DON'T WANT TO USE IT.
I DON'T WANT TO USE IT. NOBODY, NOBODY IS GOING -- WE'RE
WORKING IN AN AIRPLANE RIGHT NOW.
I DON'T KNOW IF YOU HAVE BEEN READING ABOUT IT.
BILLIONS AND BILLIONS OF DOLLARS FOR ONE PLANE.
AND THE TEST PILOT, DID YOU READ THE STORY?
I LOVE THE TEST PILOTS. GREAT GUYS.
SERIOUSLY GOOD FLYERS, AND THEY CAME OUT OF THE PLANE-BILLIONS
OF DOLLARS, AND THE SAY THIS THING DOESN'T HOLD A CANDLE TO
THE OLD ONE. THAT WE USED TO FLY.
IT DOESN'T MANEUVER AS WELL. DOESN'T WORK.
WE'RE TALKING BILLIONS AND BILLIONS.
WHAT ARE WE DOING FOLKSES? WHAT ARE WE DOING SOME WHAT ARE
WE DOING? SO, SO WE NEED A SPECIAL LEADER.
WE NEED A SPECIAL LEADER. [CHEERING]
[CHANTING]
WE NEED A SPECIALIST. SO, LET ME JUST SAY.
SO, THE HEADLINES BLAIRED, I DON'T BELIEVE THOSE POLLS, BY
THE WAY, BECAUSE BOTH OF THOSE POLLSTERS DO NOT LIKE ME.
I'M TELLING YOU. NOW, I'M NOT SAYING ANYTHING
THAT GOES ON ILLICITLY WITH POLLING, OKAY?
I WOULD NEVER, EVER SAY THAT. BUT BOTH OF THOSE POLLING GROUPS
DO NOT LIKE ME AT ALL, AND I DISAGREE.
DON'T BELIEVE IT. WHERE IS JAKE TAPPER?
IS HE HERE? JAKE.
WHERE IS JAKE? WHAT HAPPENED TO JAKE?
A GOOD MAN. JUST INTERVIEWED ME.
9:00, SUNDAY MORNING, JAKE TAPPER ON CNN.
WHAT HAPPENED TO JAKE IN THE IS HERE SOMEPLACE.
HE IS HERE SOMEPLACE. HE IS A GOOD MAN.
MAYBE HE IS SHY. BUT HE IS HERE SOMEPLACE.
IT'S GOOD. IT'S 9:00 ON SUNDAY MORNING-CNN.
I THINK WE'LL DO GREAT IN IOWA. I THINK WE'LL DO REALLY GREAT.
BUT HERE'S THE STORY. I NEVER SEEN SUCH PRESS.
I MEAN, MY WIFE CALLED AND SAID, ARE YOU OKAY, DARLING?
HOW BAD IS IT? HOW BAD IS IT?
THEY MADE IT SOUND LIKE IT'S THE GREATEST DEFEAT IN HISTORY.
AND THE BAD PART IS THAT IF I WON IT, IT WOULDN'T HAVE BEEN
MENTIONED. THEN I SAID TO MYSELF, LOOK, I
HAVE TO -- I'M GOING TO BE NICE. I'M GOING TO BE NICE, BECAUSE I
HAVE TO TALK ABOUT THIS. YOU GOT THE POWER!
THANK YOU. BEN CARSON IS THE ONE THAT IS
LEADING IOWA, SUPPOSEDLY. OKAY?
AND I SAID ISSUE GOT TO TALK ABOUT HIM.
A FRIEND OF MINE WHO HAPPENS TO BE A GREAT, GREAT ATHLETE, HE
HAPPENS TO BE AFRICAN-AMERICAN. HE CALLS HIMSELF BLACK.
HE SAYS, I'M BLACK. I SAID I CAN'T TELL YOU THAT.
IT'S NOT POLITICALLY CORRECT. HE SAID, DONALD, YOU'RE THE
GREATEST TRASH TALKER. HE SAYS TO ME, AND I NEVER
THOUGHT I'D SAY IT BAT WHITE GUY.
CAN YOU BELIEVE THIS? AND I SAID ISSUE DON'T KNOW IF
THAT'S TRUE OR NOT BECAUSE I RENEW -- HE SAYS, WHEN YOU
SAID, LOW ENERGY FOR BUSH YOU DEFINED HIM SO INDECREED BLIMP
IT WAS OVER. HE CAN HAVE $125 MILLION IN THE
BANK, DONALD, AND IT'S OVER. IT WAS JUST DEFYING.
BUT I SAID, BUT BEN CARSON IS SUPER LOW ENERGY, RIGHT?
SUPER LOW. SUPER LOW ENERGY.
WE NEED TREMENDOUS ENERGY. [CHEERING]
WE NEED TREMENDOUS ENERGY.
[CHANTING] U.S.A., U.S.A., U.S.A.,
U.S.A., U.S.A., U.S.A., U.S.A., U.S.A.
WE NEED ENERGY. SO, HILLARY CLINTON, THE OTHER
DAY -- [BOOING]
HE SAID I DON'T LIKE DONALD TRUMP'S TONE.
HIS TONE. TONE.
CAN YOU IMAGINE? MY TONE.
MY TONE. THINK OF IT.
SHE DOESN'T LIKE MY TONE. WE HAVE PEOPLE THAT ARE
CHRISTIANS AND THEIR HEAD ARE BEING CHOPPED OFF IN THE MIDDLE
EAST. WE HAVE PEOPLE DYING BY THE
THOUSANDS ALL ORE -- OVER THIS COUNTRY.
WE HAVE PEOPLE THAT ARE BEING DROWNED IN CAGES.
IT HASN'T BEEN LIKE THIS SINCE MEDIEVAL TIMES.
IT'S TRUE. WHO WOULD EVER THINK -- AND
SHE'S TALKING ABOUT MY TONE. THINK OF IT.
THINK OF IT. THINK OF IT.
WE HAVE TO BE POLITICALLY CORRECT, SO THEY CAN CHOP OFF
THE HEADS OF AN AMERICAN CHRISTIAN AND WE CAN'T
WATERBOARD. IT'S NOT FAIR.
IT'S NOT FAIR. THINK OF IT.
THINK OF HOW CRAZY AND HOW LOPSIDED OUR COUNTRY HAS BECOME.
THINK OF WHAT IS GOING ON. THINK OF WHAT IS GOING ON.
THINK OF WHY WE'RE NOT RESPECTED.
THINK ABOUT SERGEANT BERGDAHL, A TRAITOR, TRAITOR, THINK OF IT.
HE IS A DIRTY, ROTTEN TRAITOR. SIX PEOPLE DIED GOING AFTER HIM.
THEY DIED. SIX YOUNG INCREDIBLE, BRAVE,
PEOPLE, DIED. THE DEAL IS, WE GET TRAITOR
BERGDAHL, THEY GET FIVE OF THE BEST PEOPLE THAT THEY HAVE, THAT
THEY'VE BEEN AFTER FOR TEN YEARS.
THEY GET FIVE KILLERS THAT ARE RIGHT NOW LEADING AND BACK ON
THE BATTLEFIELD, TRYING TO KILL EVERYBODY, INCLUDING YOU.
AND WE GET BERGDAHL, A TRAITOR. OKAY?
WE GET BERGDAHL. AND THEN TWO DAYS AGO IT CAME
OUT THAT BERGDAHL -- THEY DON'T WANT TO PUT HIM IN JAIL.
IN THE OLD DAYS, BOOM, FIRING SQUAD.
IT'S TRUE. [CHEERING]
I LOVE THE SECOND AMENDMENT. I LOVE THE SECOND AMENDMENT.
[CHEERING] TWO DAYS AGO, IT COMES OUT
THAT SERGEANT BERGDAHL WON'T EVEN HAVE TO GO TO JAIL.
THINK OF IT. WHERE HAVE WE GONE?
WHERE HAVE WE GONE? WHAT IS GOING ON WITH OUR
COUNTRY? OKAY?
I'LL TELL YOU ONE THING. IF I WIN, NOT GOING TO BE MY
MOST IMPORTANT JOB. NOT IF.
WE HAVE TO SAY IT. HEY, LOOK.
THEY'RE ALL GOING, NOT IF. WHEN.
ALL RIGHT. ALL RIGHT.
I HAVE A -- THEY'RE GOING CRAZY UP HERE THAT TOE SAY WIN,
WIN, WIN, OKAY, WIN. WIN.
AND I HOPE SO BECAUSE I TELL YOU, WE CAN MAKE OUR COUNTRY SO
GREAT AGAIN. MAKE IT SO GREAT.
BUT I PROMISE YOU, WE WILL BE RE-OPENING THAT BERGDAHL
DISASTER. WE WILL BE RE-OPENING IT.
A LOT OF THINGS ARE GOING TO BE RE-OPENED.
A LOT OF THINGS GOING TO BE RE-OPENED.
A LOT OF THINGS RE-OPENED. SO, I WENT TO MY PEOPLE -- JUST
LIKE DORAL, I GOT IT FOR 170, EVERYBODY THINKS IT'S DONE.
I SAID, LET'S MAKE IT 150. THEY SAY HOW CAN YOU DO THAT?
I DID. BUT THE PLACE, JUST LIKE THAT,
WE HAVE DEALS WITH CHINA, THAT ARE DONE.
SOMEBODY SAID, WELL, THEY'RE SIGNED.
I SAID, THAT OKAY. THEY VIOLATED EVERY DEAL WE EVER
MADE. THEY VIOLATE IT.
THAT MEANED THEY'RE IN DEFAULT. THAT MEANS THEY'RE IN DEFAULT.
OKAY? SO, I SAID TO MY PEOPLE, TWO
WEEKS AGO, GO BACK AND TELL ME WHAT IS OUR TRADE IMBALANCE
WITH -- I PICKED THREE COUNTRIES -- CHINA, JAPAN, AND
MEXICO. I JUST WANT TO FIND OUT.
I'M JUST CURIOUS. I'M JUST CURIOUS.
SO, MC -- I LOVE MEXICO AND I LOVE THE MEXICAN PEOPLE, BUT
THEIR LEADERS ARE TOO SMART FOR OUR LEADERS AYE-YI-YI.
OUR LEADERS ARE TO STUPID. SO IS MEXICO.
WE LOSE 45 BILLION DAZ YEAR. WOULD YOU SAY THAT A LOT?
THAT OKAY BECAUSE THAT PEANUTS TO -- JAPAN -- WE HAVE HAND
IMBALANCE OF $70 BILLION A YEAR. 70 BILLION.
70 BILLION. MOST PEOPLE DON'T EVEN KNOW WHAT
THAT IS. WHAT DOES THAT MEAN?
THE NUMBER IS SO MASSIVE, IT'S NOT EVEN RECOVERABLE.
BUT I CAN RECOVER. BELIEVE ME.
HERE'S THE BEAUTY. I LOVE CHINA, THEY GIVE ME
25 MILLION, DO THEM LIKE HOTCAKES BUT CHINA THIS TEST
WELL-JAPAN IS RIGHT THERE 'SELLS -- JUST DEVALUED THE HELL
OUT OF THEIR CURRENCY. BUT CHINA GAVE THE BIGGEST,
GREATEST DEVALUATION IN THE LAST TWO DECADES, MEANING 20 YEARS.
THE BIGGEST DEVALUATION. SO I SAID, WATCH THE TRADE
IMBALANCE HAVE THE TOLD ME MEXICO FIRST.
I SAID THAT'S A LOT OF MONEY. THEN THEY SAID JAPAN IS -- WELL,
THAT EVEN MORE MONEY. I SAID.
GIVE IT TO ME WITH CHINA. ALMOST $400 BILLION A YEAR WE
LOSE. HOW STUPID ARE WE?
TE WE SHOULD BE ASHAMED OF OFFERS.
-- ASHAMED OF OURSELVES. HOW STOOPED ARE WE.
I DEPOSIT BLAME CHINA. I HAVE FRIENDS FROM CHINA. THEY
USED TO SEE ME AND SAY, WE CAN'T BELIEVE WE GET AWAY WITH THIS.
THIS IS UNBELIEVABLE, YOU'RE PEOPLE ARE INCOMPETENT.
THEN I SAID I'M RUN FORTH PRESIDENT.
THEY SAID, NO, WE WERE ONLY KIDDING.
THEY HAD NO IDEA I'D BE REVEALING THEIR CONVERSATION.
THEY CAN'T EVEN BELIEVE. FIRST OF ALL, WHEN CHINA SENDS
US THEIR GOODS, THERE'S NO TAX, THERE'S NO NOTHING.
WHEN WE SEND CHINA NUMBER ONE THEY WON'T ACCEPT THEM, IF THEY
DO ACCEPT THEM, THEY HAVE MASSIVE TAXES AND TARIFFS.
IT'S A ONE-WAY STREET. A FRIEND OF MINE, GREAT
MANUFACTURERS-CAN'T GET HIS GOODS IN.
HE MANUFACTURES GREAT STUFF. CAN'T GET HIS GOODS IN CHINA.
CALLS ME. I CAN'T DEAL WITH THESE PEOPLE.
THEN FINALLY HE GETS THEM IN THEY CHARGED HIM A TACK THAT WAS
SO HIGH, CAN'T TELL YOU BECAUSE NOBODY WILL BLEW HOW HIGH IT
WAS. -- BELIEVE HOW HIGH IT WAS.
THESE ARE SMART PEOPLE BUT I HAVE PEOPLE THAT ARE SMARTER.
I HAVE PEOPLE -- I MEAN EX-HAVE SOME OF THE GREAT BUSINESS
PEOPLE -- THEY'RE ALL CALLING ME.
THESE GUYS, FRIENDS OF MINE, SOME ENEMIES.
I EVEN HAVE ENEMIES CALLING. I HAVE GUYS THAT ARE SO SMART,
AND SOME I DON'T LIKE, SOME I CAN'T STAND.
SOME ARE HORRIBLE PEOPLE. ACTUALLY I KNOW ONE THAT IS SO
BAD, AS A HUMAN BEING, THE WORST HUMAN BEING I'VE EVER MET BUT AN
UNBELIEVABLE NEGOTIATOR. I SAID, IRVING, COME ON, YOU'RE
GOING WITH US. AND THESE ARE WEALTHY PEOPLE.
REALLY WEALTHY PEOPLE. AND THEY'RE ALL CALLING ME.
THEY ALL WANT TO GET INVOLVED. I HAVE A GREAT GUY, REALLY
GREAT, GREAT BUSINESSMAN, GREAT EVERYTHING.
CARL ICAHN. HE CALLED ME.
I WANT TO GET INVOLVED. HE DOESN'T WANT MONEY.
HE DOESN'T WANT SALARY. ALL THESE PEOPLE REPRESENTING
US, THEY WANT SALARIES. THEY GIVE $2,000 TO SOMEBODY AND
NOW THEY'RE SUPPOSED TO BE PAID FOR THE NEXT EIGHT YEARS BY SOME
STUPID POLITICIAN. OKAY?
NO. NO.
CARL ICAHN WANTS TO REPRESENT THE COUNTRY FOR NOTHING.
NOW, IF I SAY -- HE'S A GREAT GUY, A GREAT -- I DON'T CARE.
HIS A GREET -- BUT I DON'T CARE BECAUSE I HAVE OTHERS THAT
AREN'T GREAT GUYS, BUT THEY'RE GREAT AT WHAT IT DO.
I KNOW THE GREAT ONES, KNOW THE BAD ONES.
I KNOW THE GUIDE THAT ARE OVERRATED.
YOU GOT SOME THAT ARE HIGHLY OVERRATED.
I WON'T USE THEM. I HAVE SOMEBODY THAT NOBODY EVER
HEARD OF THAT ARE BETTER THAN ALL OF THEM.
WE HAVE THE MOST TALENTED PEOPLE THERE ARE.
THIS ISN'T GOING TO BE POLITICAL HACKS.
NOW, IF I TELL CARL, GO WATCH OVER CHINA FOR ME, CARL, JUST
WATCH OVER CHINA, TRUST ME, GOOD THINGS ARE GOING TO HAPPEN FOR
US. BELIEVE ME.
REALLY GOOD THINGS ARE GOING TO HAPPY.
I MEAN, WE HAVE A THING RIGHT NOW GOING ON, CALLED CORPORATE
INVERSION. NOBODY KNOWS WHAT IT IS.
BUT COMPANIES HAVE TRILLIONS OF DOLLARS IN OTHER COUNTRIES.
AND WE CAN'T GET IT BACK INTO THIS COUNTRY.
YOU KNOW THAT, RIGHT? YOU'VE BEEN HEARING ABOUT THIS.
THEY KNOW THE NUMBER IS 2.5 TRILLION.
I SAY IT'S MUCH HIGHER THAN THAT.
NOBODY REALLY KNOWS. SO AT LEAST 2.5 TRILLION IS
OFFSHORE, ALL THESE DIFFERENT COUNTRIES, AND WHAT WE'RE DOING
IS OUR COMPANIES ARE GOING TO -- THEY'VE ALREADY STARTED --
LEAVING THE UNITED STATES AND MOVING TO THOSE OTHER COUNTRIES
TO GET THEIR MONEY -- WELL, YOU CAN'T BLAME THEM.
TO GET THEIR MONEY AND, AND TO GET LOWER TAXES.
SO I CAME UP WITH A TAX PLAN THAT CUTS TAXES WAY DOWN, WAY
DOWN, FOR CORPORATIONS, FOR THE MIDDLE INCOME PEOPLE, FOR THE
MIDDLE INCOME PEOPLE. OF WHICH WE DON'T HAVE TOO MANY
IN THIS ROOM, I CAN TELL YOU. THEY'RE ALL UPPER MIDDLE INCOME
PEOPLE, AND UPPER PEOPLE. BUT FOR THE MIDDLE INCOME
PEOPLE, BECAUSE THE MIDDLE CLASS OF THIS COUNTRY HAS BEEN TOTALLY
FORGOTTEN ABOUT. BEEN TOTALLY FORGOTTEN ABOUT.
SO WE'RE CUTTING CORPORATE TAXED.
WE'RE CUTTING TAXES FOR THE MIDDLE INCOME.
WE'RE CUTTING A LOT OF THINGS LIKE CARRIED INTEREST.
THESE GUYS -- THE HEDGE FUND GUYS PICK A STOCK.
IF I IT GOES UP THEY'RE GENIUSES.
IF IT GOINGS DOWN, THEY FIND ANOTHER JOB.
A LOT OF IT IS LUCK. WHAT HAPPENS IS THE DEMOCRATS
AND THE REPUBLICANS BOTH AGREE THAT WE SHOULD SPRING -- WHO
CANNOT AGREE. FOR THREE AND A HALF YEARS
THEY'VE AGREED AND STILL CAN'T MAKE A DEAL.
IT'S GRIDLOCK IN WASHINGTON. IT'S LACK OF LEADERSHIP IN
WASHINGTON. AND WE'RE GOING TO STOP IT.
WE'RE GOING TO STOP IT. WE'RE GOING TO STOP IT.
[CHEERING] THE OTHER DAY, -- AND IT'S
GOING TO BE AMAZING. WE'LL HAVE DYNAMIC, REALLY
DYNAMIC COUNTRY. THE OTHER DAY, I WATCHED THE A
GENERAL BEING INTERVIEWED. AND I SAID TO A GROUP BEFORE,
WHY THE HELL IS A GENERAL BEING INTERVIEWED ON TELEVISION?
I DON'T WANT MY GENERALS BEING INTERVIEWED.
I DON'T WANT THEM TELLING WHAT WE'RE DOING, WHERE WE'RE GOING.
CAN YOU IMAGINE GENERAL GEORGE PATTON, WHO USED TO WALK IN A
ROOM WITH BLOOD POURING OUT OF HIS EYES.
DO YOU THINK THIS GUY IS GOING TO BE INTERVIEWED ON CNN?
I DON'T THINK SO. I MEAN, I'M WATCHING THIS
GENERAL BE INTERVIEWED THE FIRST -- I LOVE GREAT GENERALS.
I LOVE GENERAL MACARTHUR. TO THIS DAY, HE HAD THE HIGHEST
MARKS -- I'M A BIG FAN OF ACADEMICS BELIEVE IT NORTH --
THE HIGHEST MARKS THE THE HOYT OF WEST POINT.
HIGHEST AVERAGE. SMART GUY.
I THINK HIS PROBLEM WAS HE HATED TO LISTEN TO DWIGHT EISENHOWER
BECAUSE DWIGHT WORK IS A GREAT GUY, BUT HE WAS AT THE LOWER
PART OF HIS CLASS, AND MACARTHUR WAS THE SMARTEST GUY
PROBABLY EVER AT WEST POINT, AND HE COULDN'T BELIEVE THAT HE HAD
TO TAKE ORDERS FROM IKE. THERE'S SO MANY INTERESTING
STORIES. COULD YOU IMAGINE, COULD YOU
IMAGINE, GENERAL DOUGLAS MACARTHUR BEING ON TELEVISION,
SAYING THE FOLLOWING. THE QUESTION WAS BY A VERY GOOD
MAN ASKING THE QUESTION. SAID: WHAT DO YOU THINK OF
ISIS? CAN WE WIN?
AND THE GENERAL LOOKED AT HIM AND SAID, OH, IT'S GOING TO BE
VERY TOUGH. IT'S GOING TO BE VERY, VERY
TOUGH. I DON'T KNOW.
IT'S GOING TO TAKE A VERY, VERY LONG TIME.
I LOOKED AT THIS GUY AND I SAID, NUMBER ONE, HE IS A WEAK PERSON.
I'M VERY GOOD. DEALS DEALS.
DEALS ARE PEOPLE. WHEN YOU DO DEALS, IT'S PEOPLE.
NOT DEALS. EVERYBODY ALWAYS SAYS, DEALS,
DEALS ARE PEOPLE. REMEMBER IT.
I TELL KIDS, DEALS ARE NOT DEALS.
DEALS ARE PEOPLE. BUT I LOOKED AT THIS GENERAL, I
SAID, DON'T WANT HIM. I DON'T WANT HIM.
I WILL FIND THE SMARTEST -- AND SMART IS VERY IMPORTANT --
TOUGH -- WE GOT RID OF A VERY SMART ONE.
I WON'T MENTION NAMES. WE GOT RID ROOF A GUY BECAUSE HE
WAS USING FOUL LANGUAGE TO A MAGAZINE.
HE WAS TOUGH AND MEAN AND NASTY, AND THE TROOPS -- AND WE GOT RID
OF HIM BECAUSE HE WAS TOUGH. I WILL FIND THE GENERAL
MACARTHUR. I WILL FIND THE GENERAL GEORGE
PATTON. WE GOTEL.
WE GOT 'EM. THEY MAY NOT BE POLITICALLY
CORRECT. WHO CARES.
WHO CARES. BUT WE'RE GOING TO FIND 'EM.
AND WE'RE GOING TO CLEAN THINGS UP AND WE'RE GOING TO HAVE A
GREAT COUNTRY AGAIN. WE'LL HAVE A GREAT -- -- AND
RESPECTED. A RESPECTED COUNTRY.
SO, WE HAVE A LOT OF TO DO. WE WILL BUILD A WALL.
[CHEERING] WE WILL BUILD A WALL.
WE HAVE NO CHOICE. AND BY THE WAY, PEOPLE WILL COME
INTO OUR COUNTRY BUT THEY'RE GOING TO COME IN LEGALLY.
LEGALLY. [CHANTING]
U.S.A. U.S.A..
U.S.A. U.S.A.
U.S.A. I APPRECIATE WHATEVER THE
HELL YELLED OUT, WE'LL REBUILD THE WALL.
TO BE HONEST IN THIS GROUP I WASN'T SO SURE I SHOULD BE
TALKING ABOUT WALLS. DOES THAT MAKE SENSE?
TOMORROW, TOMORROW IN JACKSONVILLE I CAN TALK ABOUT
WALLS. BUT IN THIS ONE I WAS A LITTLE
HESITANT TO TALK ABOUT IT. THANK YOU.
THANK YOU. [CHEERING]
BY THE WAY -- AND I SAY THIS ALL THE TIME AND PEOPLE BEAR IT
OUT. A RADIO HOST, HISPANIC SHOW, IN
NEW YORK, SAID, YOU KNOW -- HE WAS INTERVIEWED.
HE SAID, YOU KNOW, MY AUDIENCES ALL HISPANIC.
THEY LOVE TRUMP. THEY LOVE TRUMP.
AND LET ME TELL YOU, LET ME TELL YOU WHO WANTS TO STOP ILLEGAL
IMMIGRATION MORE THAN ANYBODY? THE HISPANIC THAT ARE IN OUR
COUNTRY LEGALLY. IT'S TRUE.
IT'S TRUE. SO, JUST TO FINISH UP, OUR
COUNTRY DOESN'T WIN ANYMORE. YOU KNOW THAT.
RIGHT? AM I RIGHT?
WE DON'T WIN. WHEN WAS THE LAST TIME WE HAD
VICTORY. WE LOSE WITH CHINA ON TRADE.
WE LOSE WITH ISIS. WE LOSE WITH IRAQ.
WE DON'T KNOW WHAT WE'RE DOING. IRAN JUST MADE THE SINGLE
GREATEST CONTRACT I HAVE EVER SEEN ANYBODY MAKE.
WE WERE REPRESENTED BY A MAN THAT SHOULD BE ASHAMED OF
HIMSELF. A MAN, SECRETARY KERRY, THAT
SHOULD GET THE HELL OFF A BICYCLE.
A GUY FALLS OFF HIS BICYCLE DURING THE NEGOTIATIONS.
BREAKS HIS LEG. WE WERE REPRESENTED BY
INCOMPETENT PEOPLE. AND IT'S NOT GOING TO HAPPEN
ANYMORE, FOLKS. NOT GOING TO HAPPEN ANYMORE.
AND LET ME TELL YOU SOMETHING. IF AND WHEN I WIN, D I'M
NOT -- -- [CHANTING]
[CHANTING] SO IF AND WHEN I WIN, WE ARE
GOING TO HAVE SO MANY VICTORIES, IT'S GOING TO BE SO NICE.
IT'S GOING TO BE SO NICE. WE'RE GOING TO WIN ON TRADE.
WE'RE GOING TO WIN AT EVERYTHING.
WE'RE GOING TO TERMINATE OBAMA CAD.
WE'RE GOING TO TERMINATE IT. IT'S GOING TO BE REPLACED WITH
SOMETHING MUCH BETTER AND MUCH LESS EXPENSIVE FOR YOU AND FOR
THE COUNTRY. LET ME TELL YOU, OBAMACARE WAS A
DREAM FOR THE INSURANCE COMPANIES.
THEY'VE MADE A FORTUNE WITH OBAMACARE.
THEY'VE MADE A FORTUNE, AND YOUR PREMIUMS ARE UP 40%, 50%, 55%,
YOUR DEDUCTIBLES ARE THROUGH THE ROOF.
YOU'LL NEVER EVEN BE ABLE TO USE IT.
IT IS SO BAD WE'RE GOING TO REPEAL AND IT REPLACE IT WITH
SOMETHING GREAT. GREAT.
[CHEERING]
WE ARE GOING TO BRING BACK THE AMERICAN DREAM.
AND WE -- THIS IS AS SURE AS YOU'RE STANDING HERE TONIGHT AND
LOOK AROUND, FOLKS, BECAUSE THIS IS A MOVEMENT.
THIS IS SOMETHING VERY SPECIAL. AND IT'S HAPPENING ALL OVER THE
COUNTRY. NOT JUST HERE IN MIAMI.
IT'S HAPPENING ALL OVER THE COUNTRY.
YOU'LL SEE IT TOMORROW IN JACKSONVILLE.
I HAPPENS ALL OVER THE COUNTRY. WE ARE GOING TO MAKE AMERICA
GREAT AGAIN. THANK YOU.
THANK YOU VERY MUCH. THANK YOU.
[CHEERING] ¶ WE'RE NOT GONE NO TAKE IT.
¶ NO, WE AIN'T GONNA TAKE IT. ¶ WE'RE NOT GONNA TAKE IT
ANYMORE ¶ THANK YOU, EVERYBODY.
THANK YOU. ¶ WE'VE GOT THE RIGHT.
¶ THERE AIN'T NO WAY WE'LL LOSE IT.
¶ THIS IS OUR LIFE THIS IS OUR ¶ WE'RE'LL FIGHT
¶ ¶
YOU CAN WATCH THE ENTIRE REVENT TONIGHT 11:45, EASTERN
TIME OR ANYTIME ON C-SPAN.ORGMENT THE CONK OF THE
ROAD TO THE WHITE HOUSE CONTINUES TOMORROW WITH THE
JEFFERSON JACKSON DINNER. THREE DEMOCRATIC PRESIDENTIAL
CANDIDATES WILL SPEAK AND THAT WILL BE LIVE TOMORROW AT
9:00 P.M. EASTERN.
ALL CAMPAIGN LONG, C-SPAN TAKES YOU ON THE ROAD TO THE
WHITE HOUSE. UNFILTERED ACCESS TO CANDIDATES,
AT TOWN HALL MEETINGS, NEWS CONFERENCES, RALLIES AND
SPEECHES. WE'RE TAKING YOUR COMMENTS ON
TWITTER, FACEBOOK, AND BY PHONE, AND ALWAYS, EVERY CAMPAIGN EVENT
WE COVER IS AVAILABLE ON OUR WEB SITE AT C-SPAN.ORG.
NOW, THE HOUSE ENERGY AND COMMERCE SUBCOMMITTEE ON
COMMERCE MANUFACTURING AND TRADE HEARING, ON EFFORTS TO PROTECT
THE ELDERLY FROM FRAUDULENT AND DECEPTIVE PRACTICES IN THE
MARKETPLACE. THIS IS ABOUT TWO HOURS, AND 15
MINUTES.
NOD CONVERSATION
WILL NOW COME TO ORDER AND THE CHAIR RECOGNIZES HIMSELF FOR
FIVE MINUTES FOR THE PURPOSE OF AN OPENING STATEMENT.
THIS MORNING, FIRST LET ME WELCOME OUR WITNESSES.
THIS MORNING WE WILL RECEIVE AN UPDATE ON THE CONSUMER
PROTECTION EFFORTS IN PLACE TO ADDRESS THE FRAUD RISK FOR
AMERICA'S SENIORS. AS OF JULY 2013, THERE ARE OVER
44 MILLION AMERICANS WHO ARE OLDER THAN 65.
THAT ALMOST 14% OF THE POPULATION.
THE POPULATION, 65 AND HOLDER IN THE UNITED STATES, PROJECTS TO
OUTNUMBER PEOPLE YOUNGER THAN 18 FOR THE FIRST TIME IN 2033.
A MERE 18 YEARS FROM NOW. THE MEDIAN INCOME OF THESE
HOUSEHOLDS IS OVER $35,000 PER YEAR, AND 71% REPORT HAVING A
COMPUTER IN THEIR HOME. THE MEDIAN NETWORTH OF SENIORS
65 AND OVER IS 25 TIMES THAT OF PEOPLE UNDER 35 YEARS OF AGE.
THE EXPANDING POPULATION OF OLDER AMERICANS AND THEIR
RELATIVE WEALTH COMPARED TO OTHER AGE GROUPS INCREASES THE
RISK THAT SOMEONE WILL WANT TO TARGET THEM AS SCAMS.
NEW TECHNOLOGIES ARE EVERYWHERE. EACH WEEK A NEW SMARTPHONE OR
TABLET IS ANNOUNCED. NEW APPS AND NEW CAPABILITIES
KEEP CROPPING UP, KEALING UP WITH NEW TECHNOLOGY CAN BE A
CHALLENGE, PARTICULARLY FOR SENIORS THAT ARE LESS FAMILIAR
WITH TECHNOLOGY, OR ARE RETIRED AND ARE NOT EXPOSED TO NEW
TECHNOLOGY AT THE WORKPLACE. THE RISK OF FRAUD CANNOT BE
UNDERESTIMATED. IN THE NOVEMBER ISSUE OF
CONSUMER REPORTS, EIGHT BRAVE SENIORS CAME FORWARD TO TELL
THEIR STORIES ABOUT BEING DEFRAUDED.
IN SOME CASES OUT OF THOUSANDS OF DOLLARS, SOMETIMES JUST IN A
MATTER OF HOURS. THIS IS ALL BEFORE FAMILY OR LAW
ENFORCEMENT COULD BE NOTIFIED OR INTERVENE.
WHILE FRAUD PERPETRATED BY STRANGERS AGAINST THE ELDERLY IS
NOT THE ONLY TYPE OF ABUSE AGAINST THE ELDERLY, IT DOES
REPRESENT 50% OF THE REPORTED CASES.
THAT IS WHY THE HEARING TODAY IS SO IMPORTANT.
EVEN WHERE THERE IS NO SILVER BULLET, IT IS CRITICALLY
IMPORTANT FOR THE SUBCOMMITTEE TO UNDERSTAND WHAT GOVERNMENT
AGENCIES, WHAT THE MEDIA, WHAT UNIVERSITIES AND WHAT PRIVATE
GROUPS ARE DOING TO EMPOWER SENIORS TO PROTECT THEMSELVES
FROM FRAUD, AND TO HELP THEM RECUPERATE LOSSES IF THEY ARE
TARGETED. AND WE NEED TO FIGURE OUT HOW
OUR ENFORCEMENT AGENCIES CAN DEVOTE MORE RESOURCES TO THE
PROBLEM. THERE ARE FEW MORE IMPORTANT
ISSUES WHEN IT COMES TO FRAUD AND CONSUMER PROTECTION.
THE CHAIR NOW RECOGNIZES SUBCOMMITTEE RANK MEMBER FOR
FIVE MINUTES FOR AN OPENING STATEMENT, PLEASE.
THANK YOU, MR. CHAIRMAN. FOR HOLDING THIS HEARING ON
PREVENTING FRAUD AGAINST SENIORS.
I REALLY APPRECIATE THE FOCUS ON THIS TOPIC.
I LOOK FORWARD TO HEARING FROM OUR WITNESSES.
I WANT TO PARTICULARLY THANK A FELLOW CHICAGOAN, ROBERT HARRIS,
FOR BEING HERE. MR. HARRIS IS THE COOK COUNTY
PUBLIC GUARDIAN AND IS LEADING THE FIGHT TO PROTECT THE ELDERLY
AGAINST FRAUD AND DECEPTION IN MY HOME TOWN.
AS A LONG-TIME CONSUMER ADVOCATE AND NOW THE CO-CHAIR OF THE
CONGRESSIONAL TASK FORCE ON SENIORS FOR THE DEMOCRATIC
CAUCUS, I'M COMMITTED TO ENSURING THAT SENIORS BENEFIT
FROM STRONG CONSUMER PROTECTIONS.
MORE NOW THAN EVER THIS SUBCOMMITTEE OUGHT TO BE HELPING
AND WE ARE BEGINNING THAT PROCESS TODAY TO ENSURE THAT
ELDERLY AMERICANS ARE PROTECTED AGAINST FRAUDSTERS.
SENIORS REPRESENT THE FASTEST GROWING SEGMENT OF OUR
POPULATION SINCE 2000. THE NUMBER OF SENIORS HAS GROWN
30%. WHILE THE POPULATION OVERALL
JUST INCREASED 10%. MORE THAN ONE IN FOUR SENIORS
WHO LIVES ALONE HAS DIFFICULTY WITH ACTIVITIES OF DAILY LIVING
OR SOME COGNITIVE IMPAIRMENT. ACCORDING TO THE FBI, SERBS --
SENIORS GENERALLY HAVE A HIGHER NET WORTH, TENDENCIES TO BE
TRUSTING AND LESS LIKELY TO REPORT FRAUD.
ALL OF THIS MAKES THE ELDERLY PRIME TARGETS.
WE HAVE SEEN AN UPTICK IN THE NUMBER OF PRODUCTS AND SERVICES
TARGETED TOWARD THE ELDERLY, INCLUDING ANTIAGING PRODUCTS,
HEALTH, RELATED PRODUCTS, PRIZE PROMOTIONS AND REVERSE
MORTGAGES. I'M INCREDIBLY CONCERNED ABOUT
THE RISKS POSED BY THOSE PRODUCTS AND SERVICES.
NOT NECESSARILY THAT ALL OF THEM ARE FRAUDULENT, BUT THAT WE NEED
TO BE CAREFUL. I WANT TO KNOW WHAT TRENDS OR
WITNESSES ARE SEEING, HEAR THEIR POLICY AND PUBLIC ENGAGEMENT
PRESCRIPTIONS FOR COMBATING FRAUD, AND LEARN HOW WE CAN HELP
YOU IN PROTECTING THE ELDERLY. I'D ALSO LIKE TO SAY THAT IF
THIS CONGRESS IS TRULY COMMITTED TO ROOTING OUT SENIOR FRAUD, WE
SHOULD START BY PROVIDING ADEQUATE FUNDING TO THE CFPB.
-- [INAUDIBLE] -- THE CONSUMER FINANCIAL
PROTECTION BUREAU, THE FEDERAL TRADE COMMISSION, AND OTHER
AGENCIES RESPONSIBLE FOR PROTECTING SENIORS.
STOPPING FRAUD SHOULD NOT COME AT THE COST OF ADEQUATELY
OVERSEEING FINANCIAL SERVICES, INDUSTRIES, APPROPRIATELY
MONITORING CORPORATE DATA SECURITY, AND PRIVACY POLICIES.
YET, UNFORTUNATELY, THE REPUBLICAN BUDGET WOULD
ELIMINATE MANDATORY FUNDING FOR THE CONSUMER FINANCIAL
PROTECTION BUREAU AND CUT FUNDING FOR THE FTC MORE THAN
THREE PERCENT FROM THE PREVIOUS YEAR.
WITH THOSE ENTITIES RESPONSIBLE FOR PROTECTING MORE SENIORS FROM
MORE THREATS EACH YEAR, IT'S HARD TO SEE HOW THOSE PROPOSALS
ARE ANYTHING BUT ANTISENIOR. I HOPE THIS HEARING IS THE
BEGINNING OF A COLLABORATIVE PROCESS THAT WILL YIELD REAL
BENEFITS TO SENIOR CITIZENS. OUR SENIOR POPULATION AND THEIR
FAMILIES DESERVE NO LESS. AGAIN, I THANK THE WITNESSES FOR
APPEARING TODAY. I THANK THE CHAIRMAN FOR THIS
HEARING, AND I LOOK FORWARD TO GAINING FROM YOUR INSIGHTS.
WOULD THE GENTLE LADY YIELD BACK?
I YIELD BANG. THE CHAIR THANKS THE GENTLE
LADY. CHAIR ASKS IF THERE ARE 0 OTHER
MEMBERS ON THE REPUBLICAN SIDE SEEKING TIME FOR AN OPENING
STATEMENT? WE WILL TEMPORARILY CONCLUDE
WITH MEMBER STATEMENTS. OTHER MEMBER MADE YET ARRIVE AT
THE COMMITTEE AND WE'D LIKE TO GIVE THEM TIME BECAUSE WE KNOW
THERE IS ANOTHER SUBCOMMITTEE HEARING GOING ON THIS MORNING
AND PEOPLE ARE TOGGLING IN BETWEEN.
FOR THE MEMBERS WHO ARE HAIR, CHAIR REMEAN MEMBER THAT
PURSUANT TO COMMITTEE RULES ALL MEMBERS' OPENING STATEMENTS ARE
MADE PART OF THE REPORT TO BE RESPECTIVE OF EVERYONE'S TIME.
[INAUDIBLE CONVERSATIONS] THE CHAIR IS PLEASED TO
RECOGNIZE THE RANKING MEMBER FOR THE FULL COMMITTEE FOR THE P.ES
OF OPENING STATEMENT. YOU SHOULDN'T WAIT FOR ME,
MR. CHAIRMAN. SO NOTED.
IT WILL NEVER HAPPEN AGAIN. SERIOUSLY.
I WANT TOO THANK YOU AND THE RANKING MEMBER FOR HOLDING
TODAY'S HEARING ON WAYS TO PROTECT OUR SENIORS FROM FRAUD.
AS WE HAVE SEEN FRAUD TOO OFTEN EACH YEAR IT FAKES CONSUMERS OF
ALL AGES AND AT THE PERPETRATORS REMAIN ADEPT AT AVOIDING THE
CONSEQUENCES THEIR CRIMINAL ACTS.
SENIORS ARE A FAST GROWING SEGMENT OF OUR POPULATION AND
THEIR THREATS TO THEIR FINANCIAL SECURITY CAN MEAN BILLS OF
DOLLARS IN STOLEN ASSETS. TODAY'S SENIORS ARE LIVING
LONGER, AND POSSESS GREATER WEALTH THAN PREVIOUS GENERATION
OFFICE SENDER. OBVIOUSLY ENCOURAGING TRENDS BUT
ALSO REPRESENT OPPORTUNITIES FOR ABUSE TO OCCUR SENIORS ARE INCUT
BET WIDTH ANN AGING PRODUCTS, COMPUTER REPAIR, AND MANY
OTHERS. THEY'RE ALSO TARGETED
DISPROPORTIONATELY FOR CERTAIN SCAMS LIKE THOSE INVOLVING PRIZE
MOW MOTIONS, HEALTH RELATED PRODUCTS AND SERVICES AND
REVERSE MORTGAGES IN ADDITION ACTIVE LIVES MEANS ACTIVE ON THE
SPEAKER NET WHERE A SIGNIFICANT NUMBER OF SCAMS ORIGINATE.
CERTAIN TYPES OF HARASSMENT SOME AS BEING CONSTANTLY BOMBARD WITH
TELEMARKETING SCAMS AND STOP ANSWERING THE PHONE CAN LEAD TO
FEELINGS OF ISOLATION. AND WE HAVE SEEN A RISE OF ABUSE
COMMITTED BY THOSE CLOSE TO SENIORS, INCLUDING FAMILY
MEMBERS, CAREGIVERS OR OTHER TRUSTED ADVISER.
SENIORERS ARE LESS HIS TENANT TO REPORT CRIMES EITHER OUT OF
EMBARRASSMENT OR FEAR OF RETRIBUTION.
OTHER IS MAY BE UNAWARE OF A CRIME COMMITTED AGAINST THEM.
A NUMBER OF FEDERAL AGENCIES STAND READY TO ASSIST STATE AND