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tv   Varney Company  FOX Business  January 4, 2017 9:00am-12:01pm EST

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morning moves ont there's so much to cover and i thank morgan, and kevin, and lee carter for being here, takely talking about repealing and replacing obamacare, that's front and center today. guess what? front and center right now, stuart varney and "varney & company" you're up, stuart. stuart: thank you very much indeed. obamacare's death spiral begins. and so does a desperate attempt to save at least some of it. good morning, everyone. this is something we've hardly ever seen, barack obama pays a visit to capitol hill. he's there to rally democrats. save obamacare. vice-president elect mike pence will also be there, rallying republicans, keep the election promise, kill obamacare. all right. here is where things stand. by january the 27th senate republicans will have a repeal plan. they have a majority, 52 seats, they can pass it. we don't know what will replace it, that's the fight that you
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will see unfold in d.c. starting today. but two more headlines for you, number one, we're seeing a new form of government, policy by twitter. today a trump sweet on julian assange, the wikileaks guy that leaked e-mails from democrats. a 14-year-old could have hacked podesta. number two, the trump stock rally continues. it looks like the market just wants to go up. we will open just a little higher, 30 minutes from now. and "varney & company," yeah, we're about to begin. ♪ >> if you like your doctor, you will be able to keep your doctor, period. if you like your health care plan, you'll be able to keep your health care plan, period. >> affordable.
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>> affordable, there's a reason, affordable. affordable. affordable. affordable. affordable. >> if you like the plan you can keep it. if you like the doctor you have, you can keep your doctor, too. stuart: well, we're just being nasty and cruel, are we not? those are the promises back then. today it's an obamacare showdown on capitol hill ap that's what you're looking at. live pictures from our steakout camera inside the capitol. we're waiting for the president and vice-president elect to rye -- arrive, and this is the day when the death of obamacare begins? >> it began when it was implemented, but now you're recognizing it. >> you've got 19 million people who received some kind of coverage under obamacare. you can't just withdraw that and leave them on their own. >> it's not realistic just to repeal it you've got to replace it and the replace has to be
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done in such a way there's a transition. it's most important that we address the affordability problem, the bureaucracy problem, and that can be done. and i think that's what the replacement plan should, how do you make it a better rate and keep the doctor and have the promises that were made and make sure those people that received coverage because they were promised that they could, preexisting conditions and all of these things, continue to have path for those people to be addressed, young people staying on parents' plans. repealing it is important. replacing it is even more important. stuart: andy, this is job one for congress and they're go eth down to work immediately. from what you said this isn't going to be a quick process. ing this going to go on a for a long time to get the thing repealed and replaced. what i'm saying is, isn't that going to crowd out other pressing items of government like tax cuts? >> well, i think the important plan is to have a plan for replacement.
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so, a road map to replacement that congress can pass. so, that there is a known transition period under which the-- you move from obamacare to an affordable care that provides real care, rather than as a bureaucracy. and we can do that. i'm confident we can do that. congress has been working on this for a long time, they haven't had a chance to present it in a way that people take it seriously. >> as of january 27th they have to come up with a plan to repeal. after that it becomes what you replace it with, but january 27th. >> you need a transition, the scary word of repeal should not cause people to feel that they have lost their insurance, there are transitioning to other plans that are better. it's going to unfold today. left-hand side of your screen, you'll watch it here. andy, stay there for a second. i've got to break in for a news development. we've got a rush hour train derailment at a line that brings commuters to new york city.
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ashley: it's not into new york city, it's into brooklyn. a long island railroad, the atlantic terminal. as you can see from pictures outside, latest reports from 18 to 20 people injured. we don't know the extent of those injuries, but this happening earlier this morning. as you can see in brooklyn. so we'reeeping an eye on that. stuart: go the-- got it. moments ago i said this market wants to go up. we're not quite at 20,000. but in 25 minutes we are going to open higher, up maybe 30 points. more on that in a second. look at the price of oil, 52 52.42. the big news in the oil market is not crude, it's gasoline, is keeps going up about a penny a day recently and more increases in the gas price are expected. again, more on that for you in just a moment. come on in, please, james freeman, wall street journal editorial page writer. do you agree with me,
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mr. freeman, this market just-- here is your chance to disagree. >> okay. stuart: am i right? does this market just wants to go up? >> investors want it to go up. the reason is we're getting into earnings season now. we talked about the optimism. trump is going to cut taxes and boosted values and now earnings are picking up and i think that people are start to go think we are going to get nice surprises the next several weeks. stuart: surprises on the upside? good profits? >> goods rising now, fourth quarter may be better than expected and then you get back into the expectations partly driven by the trump agenda of perhaps double digit corporate profit increases this year. stuart: double digit. because already in recent years, corporate profits have broken records, i mean, aren't profits a higher proportion of the economy than ever before? >> well, we came out of a bit of a slump, about six quarters until the third quarter.
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so we're starting to see them rise again, i think fourth quarter people are thinking there's some reason for optimism here, room for stocks to go higher and this year is looking like it could be stronger. stuart: okay. those are the right answers, james. well done. [laughter] >> you stay, you stay right there. >> deal. stuart: there's another theme and we're dealing with it on the show today. what i'm going to call the twitter presidency. it really is in full effect. house republicans backed away from gutting the ethics watch dog office after the president-elect tweeted this quote, with all that congress has to work on, do they really have to make the weakening in the independence watch dog as unfair as it is, may be, their number one act in priority. focus on tax reform, health care and so many other things, of far greater importance. that was saying it pretty straight, drain the swam hashtag. that tweet worked, house republicans immediately backed off those ethic plans.
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however, democrat senate leader chuck schumer, he does not approve of the twitter presidency. watch this. >> america cannot afford a twitter presidency. we have real challenges and real needs to get things done and many americans are afraid, mr. president-elect, that instead of rolling up your sleeves and forging serious policies, for you, twitter suffices. >> well, what do you make of that, andy card? . [laughter] >> some truth to it, but i think the twitter presidency is a reality. i don't think it's something that's going to disappear when donald trump moves from being president-elect to being president. i hope that he'll be more prudent how many times he tweets, and because time is critically valuable in the oval office and space in the president's head is even more valuable. you don't want him consumed with trying to respond to every burp in a government.
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stuart: but he's basically saying, look, look at this. look at this. hey, business, i'mating u. play ball or else. it's kind of acatter shot approach, he fires off these tweets and sees what comes up. >> it's tremendously effective. as soon as he moves into the oval office he will have an even greater burden to carry. stuart: you don't think he can continue like this? >> no, i don't think he can. that doesn't mean that he can't do some of this. i think he's going to have to. i think he will be a president who directly relates to the populous and that's what the tweet does. the tweet avoids you, stuart. all other media outlets, he goes over your head right to the people and they respond. and i think he's going to continue to do that, but if he does it too much. people will get tired of responding, so i think he has to be prudent how he uses it. i feel confident he will. he's going to recognize that time is so critical in the oval office you don't have time to
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do everything you want to do, you have to do what you need to do. and they're brutally tough decisions. stuart: it's fascinating to see a complete revolution in communication. >> it's going on right now, you're living it. stuart: we are, going right over our heads. andy card. thank you. i want to tell everyone this, a big day coming up, capitol hill. you're looking at it. president obama, vice-president elect pence on opposite sides of the obamacare fight. that's what they're doing there. we're on it. and gas prices up 17 cents in the past month and going higher. we have that for you, 2.35 is the average today. look at this. the naacp protesting outside of senator jeff sessions office in alabama, ty don't want him to be the next attorney general. the judge napolitano on that. and joining us, he'll be in the
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meeting with mike pence. all of that in our next hour. [vo] quickbooks introduces rodney. he has a new business teaching lessons. rodney wanted to know how his business was doing... ...so he got quickbooks. it organizes all his accounts, so he knows where he stands. ahhh...that's a profit. way to grow, rodney! visit quickbooks.com.
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>> two breaking stories and we're on both of them. first off capitol hill, lawmakers arriving for the obamacare showdown. the president and vice-president elect will be there, they're on opposite side clearly. we're following the train derailroad at brooklyn, new york. the long island train, a commuter line that brings people into the city. 32 minor injuries reported. i'm sorry we've updated that number, it's now 37. ashley: 37. stuart: 37 people injured. minor injuries, however, looking at a live shot of brooklyn, new york. tesla stocks will open lower. it sold 76,000 cars last year and they want today sell 80,000, got that. tesla will be down. electric car sales may get a boost, maybe, if gas prices keep going up. averaging 2.35 for regular now. up 17 cents from one month ago. now, ash, have you got a number how much these higher gas
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prices will cost us? >> how much we will all pay for gas, more this year as compared to 2016. how about this number, 52 billion more overall in 2017 than we paid in 2016. the average, by the way, expected for the entire year of 2017, 2.49 a gallon. it was 2.13 in 2016. so, a little bite in the old pocket book there for gas. stuart: a little bite in the old pocket book. ashley: sounded like a deejay. stuart: with an american accent. and now, the naacp. ashley: i don't know what that was. stuart: they held a sit-in at the office of jeff sessions in alabama. they don't want him to be attorney general. liz: six people, five men, one woman, they face a january 30th court date. criminal trespass. they say they don't like his track record on civil rights and held a sit-in in his mobile office until they we arrested. stuart: got it.
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more than 1100 law school professors sent a letter to congress urging them to reject senator sessions. we are convinced that jeff sessions will not fairly enforce our nation's laws and promote justice and equality in the united states. judge andrew napolitano is here. is that a big-- 1100 law school professors sounds like a big deal to me. >> it sounds like a significant number and it is, but it's people on the left who would not have voted for donald trump and would not have supported any rational nominee that would come from donald trump to be attorney general. they are basically rehashing issues that prevented jeff sessions from becoming a federal judge in 1986 when ronald reagan nominated him and when the republicans controlled the senate and a republican controlled senate judiciary committee defeated the nomination, in part because of these allegations of racial insensitivity. senator sessions' argument is
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that was then, this is now. then elected to the alabama senate four times since then, and by record is one of mainstream republicanism, including a full-throated support for the voting rights act, which is basically what all this is about. stuart: okay. i want to break in for a second, judge, because we've just got another tweet, the latest tweet from donald trump, the president-elect i should say. hold on one second. mr. trump assessing this-- you've got this. >> i've got this. the first part, republicans must be careful in that the demes owned the failed obamacare disaster with its poor coverage and maive premium increases like the 116% hike in arizona. also, deductibles are so high it's practically useless. don't let the schumer clowns out of this. stuart: judge, the schumer clowns. >> can i suggest to you the president-elect is watching "varney & company" and that this tweet is a direct response
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to the conversation you just had with andy card and the others about this. stuart: i'd be flattered. >> look how he is telegraphing his views as so effectively and in real-time. stuart: you love it, don't you? >> i do. of course, you love it, too. liz: one point, senator chuck schumer said obama should not have focused on health care re-- health reform. that americans were screaming out for better wages and jobs, he should have done that first and not obamacare. >> schumer was correct and that was then and this is now and schumer was part of let's put the government in everybody's face and tell them how to stay healthy mantra of the obama years in the early presidency. stuart: did you like that, never did the judge have so much fun. [laughter] >> the clintons and the bushes will attend the trump inauguration. the left still wants to disrupt it. we'll tell you about their plans in a moment. we're about ten minutes away from market opening. stocks will be just a little bit higher again.
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a lot of talk of disrupting the event, such as michael moore, he's threatening. andy card, will the inauguration be spoiled this year? >> the inauguration will take place. donald trump will take the oath of office at noon time on january 20th. and, but i hope that the ceremony is not disrupd because the ceremony is important and it's important for the world to see that america can have a transition of power that is not one of a revolution, it's one of the people's response to an election. and so, i want it to happen, but, no, look it, there will be people who try to protest and challenge what's going to happen at the parties, and at the gathering. but donald trump will be sworn in as president. there is nothing that can be done to disrupt the transfer of power. stuart: now, i'm told that mr. trump will have seven fewer balls this inaugural season. >> my understanding, yeah, i think he's having three balls and past presidents have had
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six, seven, eight, nine, ten. stuart: yeah, they have. >> i'm a little troubled by that. stuart: why? >> well, if you only have three balls and the tickets are very expensive, the elite show up and the people don't have a chance to. so, i like having more balls where more people can purchase tickets and have kind of a layered cost structure to it. but look it, i celebrate donald trump's inauguration and i want the world to see that we do have a president that is our president and he's going to be a great leader for the world. so i want every activity in the inaugural process to go well, the parade, the balls, there are lots of ancillary balls not official balls, but almost every state has a gathering to celebrate the new president. plenty of things for people to do when they show up in washington d.c. >> and everyone will wait to see will president trump come to the ball i'm going to.
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>> they want to see his wife more. stuart: hold on, i believe that president obama has just arrived on capitol hill. well, i should say, to be more precise, the motorcade has arrived on capitol hill. he's going there today. this is a rare visit from the president to congress, to capitol hill. these are very rare. he's going because he wants to save obamacare. and he's going to strong arm the democrats to see if they can do it. all right, we'll bring you in touch with that in a moment. then we have amazon putting alexa in tv's. now, that's the voice activated virtual assistant that gets you pretty much any information you need. so soon your tv can do this. >> alexa, who is neil cavuto? >> sorry, i didn't understand the question. [laughter]
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>> okay, what you're looking at is the president of the united states of america, president obama, just arrived
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on capitol hill. senator schumer right next to him. leader of the democrats in the senate. nancy pelosi leader of the house democrats. they're going in for a conference about the future of obamacare. the republicans wish to start repealing it as of right now. they want to repeal it. president obama wants to save it. so he's intense negotiations to save at least part of his legacy. he just walked into capitol hill and the meeting, a crucial meeting for his legacy, that will begin anytime right now. whether we get some news out of that, we probably will. i lieve that nancy pelosi and senator schumer, they are planning a joint news conference after their meeting with the president. we'll carry that or at least we'll look at it when it occurs. and vice-president elect mike pence, he also is arriving on capitol hill. he'll be rallying republicans, urging them on to kill obamacare, repeal it and replace it.
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there we have senator-- that's governor mike pence, vice-president elect. that was moments ago. so, capitol hill, that's where it happens in politics as of right now. you're looking at it. what do we do here on "varney & company"? i tell you it's easy, we cover politics and money. that was politics and this is mon money. the stock market has just opened, it's precisely 9:30 eastern time. where are we going? up 15 points higher. we're just a little shy of 19,000, well, we're right there, 19,905. most of the dow 30 are in the green. they're up, 25 points higher very few the first few seconds. the s&p 500500, a broader market base also up significantly, actually. that's interesting. the dow 30 only up a fraction of 1%, but the s&p 500 up a full 19 points, that's a very solid rally for the s&p. how about the nasdaq? where is that going this morning?
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again, not, not too bad. it's up .2%. the price of oil this morning, it affected the market yesterday. it's not necessarily going to have much effect this morning, holding right there at $52 per barrel. where is gold? gold came straight down after the election, it's down and not exactly a low, but 1165 is not exactly a high price, up $3 this morning. here is the story on the energy market, the price of gasoline. $2.35, that's your national average now for regular unleaded gas. it's gone up 17 cents per gallon. i think in the las four weeks. something like that. we're going up about a penny a day as we speak and that's going to take money out of our pockets, all right? we set the stage and we're up in the early going. who is covering this? ashley webster, liz mcdonald, james freeman, shah gilani and dan, i said the market wants to
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go up, who is going to disagree with me? sh shah gilani? >> no, i think you can go to 21,000. we have to get over 20,000. that's only another 5% from here. the market wants to go up, the path of least resistance is up. sentiment is high, there's a clearing for itting to-- there's a clearing for it to go higher. stuart: you're a raging bull. >> we could see pushback from the democrats and if some of the nominees that president-elect has put forward get a lot of pushback, i think the market might have a hard time digesting that. stuart: okay. i've got breaking news for you about general motors. this is interesting. year over year gm sales are up 10%. the stock is up 2%. it's been rallying recently. for a long, long time, it was 30, 31, 32 a share. liz: 32. stuart: now 35 close to 36. sales up.
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the dow industrials up two and a half minutes of business, 19, 924, a gain of 42 points. that's where we are. now, i was starting out by saying this market just wants to go up. who is goi to disagree with me. shah gilani agrees with me. james freeman, what do you say? >> we've been talking about the trump-induced markets and tax regulations being reduced. a big part of it, the scene on capitol hill, obamacare is going away, the mandates are going away. details to be determined later. we're moving toward a freer market in health care, moving toward more consumer choice, fewer dictates on businesses who they can cover and what exactly they have to provide. so, this is a very bullish signal and you're seeing in that capitol hill photo why this thing is failing. the president did not come back to meet with the bipartisan coalition that passed his law. it's all democrats. it was one party, a partisan move and now it's going away.
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stuart: that's interesting if the market is cheering on the end of obamacare and i think you're right. the mandate goes-- >> part of a positive environment right now. stuart: shah gilani, you're wildly bullish, what are you buying? >> all companies, the energy sector has done well and bp we love, a huge dividend yield and bought it lower and had a great run. i think room to go on the upside. 6.3% dividend yield. stuart: you still bp. british petroleum. >> 6.3. owns 19.75 of russia's largest company. and if u.s.-russians relations thaw, and i think globally they may thaw. bp will do well. stuart: you like ford? >> i like the announcement yesterday. ford is one of those stocks that have been left behind in the rally. and gm has done well. it's a little overpriced for us.
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ford has a dividend yield. cheap relative to the market and if this stock if we get a good rally will get picked up and bought along with the market. stuart: we just got news on ford, their year over year sales are up only .3%. remember, a few moments ago we said that general motors sales were up 10% year over year. ford not doing as well, up .3%. ashley: correct. stuart: the stock is up 2 1/2%. >> part of that rise is the fact that ford is underowned and people look at it and say this is a value stock, 4.7% dividend, that's time to buy it. stuart: people have been buying technology stocks and biotech. >> and energy. stuart: and energy. who has been touching industrial stocks? nobody, they've left them alone. >> i think people are thinking there are such comparisons in previous quarters, what has been a good year for automakers. i'm looking at that, given they've been in a dust-up with president trump, it's suggesting the markets are not expecting a much tougher policy
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restricting them from using north american supply chains, and i think given they've just had this fight with the president, the government used to tell companies they've got to make cars, they still do. small cars, nows' telling them where they have to make the small cars, but it looks like the bully pulpit is not scaring the markets too much. ashley: ford sales were expected to go down. anything is a positive news. stuart: while we're on car companies, tesla, that stock is lower-- tesla moved now higher, almost $2 a share. they did not sell as many cars as they wanted to sell. and 76,000 versus an intention to sell 80,000. nonetheless, the stock is up this morning. ashley: they missed their own guidance for 2016 by about 4,000 vehicles. the numbers they put out are very conservative. they only count the car being delivered and it's transferred to the customer.
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the paper work is filled out and there are thousands more that are just in that-- >> what is he talking about? that's accounting rules, you're suppose today report it that way. ashley: trying to make it sound better. liz: supposed to do according to account be rules, that stock is stuck at 2014 levels, trading where it was in 2014. >> they keep missing forecasts over and over again. they set tge for how many cars they're going to sell and i think this is why investors are going to wonder that model three out on time. >> would you buy it. >> i don't think it's coming out 2017, and i don't think they can hold the price. this company lost over 800 million last year and they're buying one that lost 700 million. this is a disaster. stuart: time for our story on amazon of the day. we have one amazon story virtually every single day. here it is. they're putting the alexa virtual assistant inside televisions. go. liz: here is the good side of the story, stuart varney can say turn on "the crown" alexa
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on my tv or order me some food from a restaurant. stuart: really? it would do that? >> it could do that. stuart: a smart tv. ashley: very smart. liz: the down side. we know that smart tv's share your information. amazon has a strict privacy rule, we don't know the chinese company that they hooked up with share with third party. stuart: if i said to my televisi television, i say turn on fox news and it turns on fox news. liz: order some pickle relish. stuart: you have three or four different row remotes and you press the wrong button and you can't get to wore you want to go. the new york stock exchange, nicole, you've got two dow stocks for us in the news, start with exxon. nicole: the stock is slieghtly
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to the down side. rex tillerson is to be secretary of state. coirmation hearings next week. exxon is going to give him $180 million retirement package and he agreed he will sell off 54 million of shares if he were to be confirmed. and he also gets to receive 2 million univested shares and this is where rex tillerson is in between and he'll get the confirmation and he'll receive the shares and sell off what he has. moving on to the other name, johnson & johnson. now one judge actually shade that johnson & johnson had to pay more than $1 billion to plaintiffs because they were not warned of the risks of a hip implant and with that, that they suffered tissue death, bone erosion and other injuries, they didn't get forewarned. but the judge said, you know what? citing constitutional considerations, on just how much plaintiffs can recover in punitive damages. so, while they suffered, cutting that $1 billion down in
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half. so that's good news there for johnson & johnson. the stock is not really reacting. both of these stocks are about 15% higher in the last 52 weeks. stuart: that stock market will get you every time. all right, nicole, thank you very much indeed. we're up 44 points on dow industrials at 19,923. listen to this, one investment firm says starbucks is poised to overtake mcdonald's as the rld's most valble restaurant company. at's tha liz: nomura, a notably bullish call, says, yeah, in four or five years. i'm not sure where nomura is coming from. starbucks has 50% less stores and it would have to grow its market cap by, you know, about 20% to overtake mcdonald's, but they're saying that s-bucks is fosed on drinks not food and it's a tough call. stuart: i've left dan out and i've got to bring him in. talk to me about gas prices. i don't think you've got good
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news there because they just keep going up. are they going to keep going up, gas prices, dan stesich. >> looks like it in the short-term. yesterday i was waiting to fill up with gas, and i paid $2.60 in chicago. the opec deal is hold to go an extent, but it's a short time period that we've seen this thing so we have to see what goes on. i think within the next three to six months, you'll see some cheating on that deal. but the reality is, along with the stronger economy, and the confidence we have here, the gas prices are going to stay somewhat elevated. the good news as they get elevated we have the frackers coming back on-line so we should be able to limit the price of oil to probably the 55 to $65 range. stuart: i'm still not going to buy a prius. dan, and all, james and shah, one and all, gentlemen, thank you for joining us, big day. we appreciate it. >> thank you. stuart: let's take a look at bank stocks, up big since the election. investors like higher interest rates, apparently.
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and less regulations. can those stocks keep going up from where they are now? especially if dodd-frank sticks around for a while? a string of illegals ahead of the inauguration, the range in power here. one of the people on the border will join us in our next hour. can we do anything about this flood of illegals? ♪ cheer up sleepy jean, oh what can it mean to a day dream believer and a homecoming queen ♪ ♪
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>> you know, i think we're right to call this the obamacare showdown that is taking place as of right now on capitol hill. president obama arrived, vice-president elect mike pence has arrived. all of this moments ago.
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they're both meeting with their respective parties, for president obama, what we can keep in obamacare. and vice-president elect pence, how we can get rid of it. now, we're 15 minutes into the trading session. this is a wednesday morning and we're up and 30 points higher. 19,915. take a quick look at the gap. it's moving today big time. a 3, nearly 4% gain. the son of one of the founders has had a 15% stake. that apparently is enough to get the stock up 3 1/2%. let's get to the banks. star performers since the election. our next guest says action on dodd-frank is likely to be a year away. come on in, rafferty capital markets guy, banking analyst dick bove. dick, you're the cheerleader for the banking stocks. you're the guy who says they're going up and they're going up some more and they've done very, very well. but fur he a now saying that action on dodd-frank is about a year away.
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i would have thought that was very bad news for the banks. >> well, it is, given the fact that people think that, you know, we're going to get immediate regulatory ease in banking and also who think that rising interest rates are good for bank stocks, which they're not. as you pointed out, actually, a couple of weeks ago, but the point is that the reason why nothing will be done on dotted dodd-frank in the near-term, you have obamacare, you have, you know need to figure out between the house and the senate, what do they really want to do. the bill in the house, you know, basically would simplify regulation enormously, but it would also slow down economic growth enormously. the bill in the senate goes back to the st. germane act in 1970 in which we're trying to glorify small banks and harm big banks. they haven't figured out what they want to do. you still have this-- go ahead.
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stuart: have you sort of pulled back on your call for bank stocks to keep going higher? it sounds like you're right. the idea of reforming and changing dodd-frank is surely going toe a long, lo time. have you pulled back on your call for the bank stocks? >> actually this morning, we did. we decided that basically, the fundamentals don't merit the current prices and that basically we're in a situation where the wrong theory is being use today push these stocks higher. as we just said, regulation doesn't look like it's going to change very near term, but as you noted a few weeks ago, if interest rates keep going up, you keep reducing the value of the assets of a banking company and you're lowering its book value. so, you know, all of these people who think that rising interest rates are a wonderful thing are not thinking about that. they're also not thinking about
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the fact that over the last six years, interest rates have been the lowest has they've ever been in the history of the country, as banks stocks went up, and that's not what-- what drives banking stocks, is loans. if you increase the number of loans, earnings go up. and if you cut taxes and have fiscal stimulus. fourth quarter earnings when they're revealed over the next three weeks are not going to be exciting for most regional banks and i think that people are going to stop and say, what do i own and why do i own it. they're going to figure out they own it for the wrong reasons. that's worrying. stuart: let's see what happens when we get the earnings from the big banks because they're still, dick, they're still going up. as of this morning, all of the major banks are higher. wait until we hear about your new call. if they're watching this program, they may change their
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tune on bank stocks, we shall see. di dick, come back. and we're in a holding path, i guess you could say. most of the dow 30 and a. capitol hill. the fog has lifted a little. the players have arrived. we're calling it the obamacare showdown. we are on it. this is a big day. . and even though their dentures look clean, in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.
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>> train derailments in the northeast have a nasty habit of recurring. we've got an update for you on the rush hour long island train derailment. it happened in brooklyn. at least 37 people injured. nonlife threatening injuries. there's clearly a problem with the commute into new york city today. we'll bring you developments as we get them. governor cuomo giving a news conference right now, he's on the scene. the price of gasoline, that's making news. look at this. $2.35 is the national average on regular and it keeps going up. about one cent per day. that is going to cost us. hollywood celebrities, they've released another anti-trump video. this time urging congress to stand up to him. watch this. >> you represent us in
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congress. you are our last line of defense. >> so here is what we ask of our elected officials. no, here is what we demand. >> to the extent that trump pursues racist, sexist, anti-immigrant. >> anti-worker. >> anti-muslim, anti-semitic, anti-environmental policies, we demand that you vigorously oppose him. stuart: any comment, liz. liz: this didn't work the last time when celebrities stepped out with a psa, public service announcement and saying with the recount, and electoral college you've got to swing toward hillary and not trump. didn't work. trump picked up more votes in wisconsin despite that celebrity-- >> they would love it and the rest wouldn't. liz: it didn't help hillary clinton. ashley: the west coast and, and
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latte sipping-- >> the cale crowd. what's this about free college? free college in new york state. governor cuomo has a plan. ashley: free tuition to all public colleges to be eligible you have to have a household income of $125,000 or less. of the 7.2 million households in new york, almost all will qualify for this. he wants it fully implemented by 2019, at a cost of about $163 million. big question, how are you going to pay for it? very unclear. stuart: where is the cost estimate 163 million. liz: i think that's low, it has to be in the billions. stuart: please, come on. liz: and no incentive for colleges to stop gouging middle class families. stuart: isn't that what's happening here, colleges keep going up regardless of inflation and. liz: the free money on this. stuart: do you know who loves
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this? >> bernie sanders. stuart: of course. . ashley: freebies, free college. stuart: yes. we have-- we've got sales numbers coming in from the car companies, we had gm up 10%, ford up .3%, and we've just got fiat chrysler, bad news, down 10%. this is year over year, very bad numbers there, fiat chrysler down 10% on their sales. that's year over year, the stock still is doing nothing. it's dead flat despite what i would call bad numbers there. i'm a driver of a chrysler town and country wagon. ashley: a proud driver. stuart: i have for years and apparently nobody else is buying. we expect to hear from the mainly players on the obamacare showdown on capitol hill. we'll be back in two minutes.
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>>
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stuart: for 8 years president obama kept his distance from capitol hill. he does not enjoy a close relationship with congress. so why is the president making the trip to capitol hill this morning? because he's desperate. he can see his legacy being shredded. with less than two weeks to go in office he's pulling out all the stops. he's meeting with democrats to try to organize the defense of obamacare. too late, mr. president. when you pass a major piece of legislation like obamacareit s to be managed through congress, it need to be managed through its implementation. if he had done that he might have gotten some republican support and it might have
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prevented the disastrous healthcare.gov. he stayed aloof in the white house. now he's looking at the reversal of just about everything he has done. the second hour of "varney and company" is about to begin. we are up 40 points. 19,933. gm looks good. their sales are up 10%. ford motor company sales basically flat though it is up 40 cents. check the stock price of tesla.
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lower sales there than the company was expecting. but they did sell 76,000. the stock, however, is 4 points higher to 41. the electric car has gas goes up made the electric car look more attractive. and prices are going up. $2.35 is the average for regular right now. >> $52 billion will be spent next year. the average across the year is $2.49. the most expensive month to drive is may. the cheapest will be next month, february, $.33. -- $2.33. stuart: in the past month which states have gone up the most.
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ashley: michigan, wisconsin. illinois, minnesota, and pennsylvania. all in pretty much the same part of the country. ashley: now this. it happened last hour. president obama and vice president-elect mike pence both arriving on capitol hill separately. this is the obamacare showdown. president obama is desperate to save it, that's why he's there right now. katie pavlich is with us now. how much of obamacare do you think the president can save? >> we'll havto see. the individual mandate is the piece that holds the legislation together, forcing people to buy health insurance.
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the legislation can't stand on its own. democrats are going to argue that they are taking healthcare away from millions of people. but they are leaving out that those millions of people were forced to buy insurance. stuart: they have laid down a mandate, you must cover these people. you withdraw those mandates and the market takes over. i think the mandate is one of the things that will be immediately repealed. >> the piece of legislation can't the function without the government forcing people into it. the obama administration tried to brag about the number of people they had going into this program. and now the tables have turned. there are some things they can keep that might not necessarily
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hold you have based on the individual mandate being repealed. they can put back into this catastrophic insurance. they are paying more now than they ever paid for healthcare and they are not using it. there are some things they might be able to keep. but the big question is on the individual mandate and whether they can have any of the legislation survive without it. stuart: catastrophic insurance. they want insurance for a terrible catastrophe, but they are prepared to neat day to day expenses because they are young and healthy. later this hour congressman jim jordan, a republican from ohio, he's now in the meeting with vice president-elect. congressman jim jordan will join
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us later about what was discussed about obamacare in congress today. thousand we just got -- we just got this news alert. vice president-elect pence told republicans that he wants a repeal bill on the president's desk by february 20. now you have a firm date. a repeal bill on the president's desk by february 20. it has to go through the house and the senate and hit the president's desk february 20. one month after the inauguration. liz: they can get the simple majority vote through. stuart: that's moving quickly on a huge piece of legislation. >> when you look at the last 8 years and the time republicans have spent on repealing obamacare.
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the house voted 52 times to repeal the legislation. the senate has voted to repeal it. the issue that's going to come up is how do they replace it. the danger they fall into here, if they don't have an option to immediately follow up with repealing obama care, government will be the vacuum and the solution whether through medicaid or going to the hospital without being charged as a result of going to the knowledge room. republicans will have the challenge of replacing it as we have been talking about. they have been working for years on repealing it and they voted to do that. thanks, katie. i want to bring this to your attention. the manhunt is still underway for that gunman who opened fire in the nightclub on new year's
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eve in istanbul. that's the man. that's the alleged killer. they had his picture out there for a couple of days. they know who he is. they know his picture. they haven't got him. sebastian gorka is with us. this doesn't look good in europe if you have this mass killer on the loose. you know what he looks like, you know his name, and you can't find him. that's bad. >> there have been dozens of arrests in turkey, but this individual's identity has not been released. there are reports that he is in fact a february of the wigur minority. so that is plausible.
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we heard he came into turkey from syria with his family to avoid detection. but why the turkish authorities aren't releasing his name is a mystery to anybody in fashion stall security. stuart: germany's chancellor angela merkel said islamic terror is the biggest threat to europe. that came out yesterday. we have news italy will start massive deportation by the end of this year. it seems things in europe, vis-a-vis islamic terror are coming to an end. it looks like we might be on the verge of communal fighting. am i going to far with that? >> i think brexit is a reflection of this incredible tension inside the european union. when you have the head of the most powerful nation say things that are so dissident that
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islamic terrorism is the greatest threat to the continent, and in the same speech say we are not going to change our immigration policies. we are going to beat this enemy with love and compassion. the average person says that doesn't make any sense. that's why you are seeing this relax to what is a clear threat to the safety of europeans from brussels, ankara and paris. stuart: now those waves will wash across us here in the united states, and they will. i have got a development going on on capitol hill. come back and see us again soon. sebastian gorka. there is a showdown on capitol hill. it's about obamacare and the president's legacy. we have congressman jim jordan
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coming up. president trump's election is 17 days away. was his election biblical? >> something happened that night, everyone predicted he was going to lose. i think it was the hand of god. he put his hand on donald trump for some reason. achoo! achoo! feel a cold coming on? zicam cold remedy nasal swabs shorten colds with a snap, and reduce symptom severity by 45%. shorten your cold with a snap, with zicam.
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stuart: as we have seen so recently, you get a rallying did day and it fades. the price of gold is worthy of a report. it's been going down because of the strong u.s. dollar of just $3 a day. $11.65. our next guest says president-elect trump's win in november was biblical and evidence of the hand of god.
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reverend franklin graham joins us now. welcome to the program. you did indeed tell my colleague lou dobbs last night this is evidence of the hand of god. are you saying the almighty intervened in the election on behalf of donald trump? >> i'm laughing in the way you are presenting it. i don't have a stack of lost emails to show as emails. it's just my opinion. i think god showed up. i went to last year, i took nine months and went to all 50 state capitals to hold prayer rallies. they came to stand on their capital steps to pray and to confess their sins to god, the sins of this nation to god, and i encouraged them to go to the polls and vote. i never supported any candidate.
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i even couraged them to vote. i believe this election donald trump was supposed to lose. i believe the church of jesus christ came to the polls and i think they voted. and i think it made a difference in this election. yes, i think it's the hand of god. stuart: on the left hand of the screen republicans are meeting for a news conference. they have been meeting with vice president-elect mike pence. this is about obamacare. >> the trump-pence team, they have the wisdom to listen, now they have the courage to lead america. you watch on the floor today, we are going to start with that courage. we watched what happened to jobs across this country. the regulations that have been impounded for the last 8 years.
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you will see this week we'll bring up the act that says give the people a voice when it comes to regulation in america. it on the deal with the those bills of regulation that get imposed upon that cost more than $100 million on business. you would think there would have been few of those. you * earlier we heard that governor pence had told republicans he want an obamacare repeal bill on the president trump's desk by february 20. that was the result of a meeting vice president-elect trump had with leading republicans. we'll get back to it when they break some news there. february 20, republicans want that bill on the president's desk to repeal obamacare. i want reverend graham's comment
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on this news story. a presidential candidate in france is being praised because he's not shying away from being a catholic. what's he saying here? liz: he essentially goes to church, what's going on in france, polls show, the people of france are returning to their christian traditions and roots as a bulwark against islamic terrorism. he's saying i will respect the secular tradition of france, i will not let my catholicism affect -- stuart: i think you were talking about a return to christian principles in america as well. >> i think we are seeing it in europe and the united states.
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our country is in trouble. the democrats can't fiction it and the republicans can'tific it without god's help. we have gone too far. we are in trouble in every sector of our country and we need god's help. i think people saw across this country that our country needed a change. we needed to go a different direction. i do believe god's hand was in this. we are seeing that in europe and across this country. people are willing to speak out and call in the name of god. stuart: sir, thank you very much. appreciate it. more on the naacp protesting against senator jeff sessions. the president of the naacp was arrested, the charge is criminal trespass. we'll have more on that in just a moment. with the xfinity tv app,
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but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. stuart: paul ryan speak about obamacare after his meeting with pence. >> we want he american to have access to quality affordable health coverage. all the of the things obamacare has kept from the american people, more choices, more control, more freedom. we want to put them back in their hands. we know things are only getting worse under obamacare. this is about people paying higher premiums every year and feeling powerless to stop it. it's about families paying
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deductibles so high it doesn't feel like you have insurance in the first place. in self parts of the country you are stuck with one option. one choice is not a choice, it's a monopoly. the healthcare system has been ruined, dismantled under obamacare. the answer is not to ignore the problem that keeps a failed legacy. the answer is bold action. solve problems. bring relief to americans. we'll help americans crying out for relief from obamacare and we'll keep our promise to the people. as you can see we'll be working with the new administration on every step of this law, every step of the way be even before day one. with that i want to hand it over to somebody we all know very well. we are so proud of them and so pleased about this working relationship with our new vice president-elect mike pence.
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>> thank you to the speaker and the leadership for the warm welcome today with the house republican conference. i'll be meeting with members of the senate at their weekly luncheon. this is a day that our message is very simple. on behalf of the president-elect and all the leadership, we are 16 days away from the end of business as usual in washington, d.c. today our message is very simple. working with the leadership here in the house and senate, we are going to be in the promise-keeping business. the president-elect campaigned all across this country. he gave voice to the frustrations and aspirations of the american people.
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he laid out an agenda to make america great again. my message on his behalf is that we intend to keep those promises. that begins with assembling a government the energetic effort through the course of this transition to build a cabinet that will be able to implement that agenda. it will begin on day one before the end of the day we do anticipate that the president-elect will be in the oval office taking action to both repeal executive orders and also set into motion through executive thanks policies to implement policies made on the campaign trail. working with the congress we'll have a classic three-part agenda the president-elect talked about on the campaign trail. jobs, jobs, jobs. you heard about the efforts this
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week to roll back the onerous regulations stifling growth in the american economy and stifling opportunities. we'll be working with the congress to construct the tax reform for businesses and individuals that will unleash the bound-up energy in the american economy. we'll keep our promises to end illegal immigration. we'll have an infrastructure bill. we'll invest in rebuilding our military. our commander-in-chief will martial strategies to find and defeat isis. in the course of this election the american people had a choice.
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and what appeared to many as against all odds oftentimes with overwhelming opposition, our president-elect took his case to the american people to repeal and replace obamacare and the american people voted decisively for a better future for healthcare in this country, and we are determined to give them that. the reality is i was here in march of 2010 in another capacity when obamacare was signed into law. i remember all those promises. we were told if you have like your doctor you can keep it. not true. we were told if you like your health insurance you can keep it. not true. we were told the cost of health insurance was going to go down. not true. premiums this year are increasing by an average of 25%. in arizona premiums went un163%.
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40% in north carolina. obama care worked a hardship on american families, businesses and in a very simple conclusion, the american people have sent new leadership here because obamacare has failed and has been rejected by the american people. now it's time for to us keep our promises. step one will be to repeal obamacare. but as the president-elect said today, and i admonished members of the house republican congress. it's important to remind the american people what they already know about obamacare. the promises that were made were all broken. i'm sure you will see an effort in the days ahead to talk about the facts around obamacare. and secondly of course is to begin that orderly transition to something better. the truth is that the commitment
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that the president-elect made was to repeal and replace obamacare. as he said this morning, it will be important that we be careful when we do that. that we do that in a way that doesn't work a hardship on 45eur can families who gained insurance through this program. we are work on a strategy in concert with the leadership of the house and senate for a legislative and executive action agenda to insure that an orderly and smooth transition to a market-based healthcare reform system is achieved. the speaker of the house used the word stable and we'll do that. in philadelphia the president-elect spoke about an orderly transition and it will be that. but make no mistake about it. we'll keep our promise to the american people.
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we'll repeal obamacare and replace it with solutions that won't grow the government. there always broad range of ideas how to do this. republicans have been offering those opinions literally every year since obamacare was first signed into law. we'll be working with dr. price both before and after his confirmation after he steps into the role at hhs to bring forward those solutions and take the case for those solutions to the american people. that being said, i couldn't be more humbled and more excited to be back in the capital today. i was encouraged by the president-elect to come here to capitol hill within the first full day of work for members of congress. because it's time to get back to work. while others are visiting the capital talking about defending the failed policies of the past, we are here today speaking to
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republican majorities in the house and senate to advance policies that will make america great again and have a more prosperous future for the people of this nation. >> in vice president -- stuart: the questions will be asked. we'll stay with this to see with vice president-elect pence has to say in response to the questions. >> earlier today the speaker called julian assange a sycophant for russia. but president-elect trump is citing julian assange as a source of intelligence. >> the president-elect and i will receive a briefing from the leadership our intelligence agencies this coming friday. we'll be listening in. i think that the president-elect has expressed his very sincere
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and healthy american scepticism about intelligence conclusions. that we are going to sit down later this week. the president and i have been receiving since the election regular intelligence briefing. received a presidential daily brief with the president yesterday, and we'll be looking at the facts and the information. but i think given some of the intelligence failures of recent years, the president-elect made it clear to the american people he's sceptical about conclusions and the american people heard him loud and source -- loud and clear. >> the president-elect is warning you to be careful here. why november forward with a repeal of obamacare when you don't have a plan top replace it. >> so much damage has already been done to the country. obama care is a story of a
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broken promise followed by a failing program, higher premiums and higher deductibles. we want to make sure as we give relief to people in obamacare that we do it in a trance significance that doesn't pull the rug out from and anybody. this law has failed, it's getting worse. families are hurting, no one has choices. we have to fix this by replacing with something better. in that transition we want to make sure we don't pull the rug out from anybody. we have a plan to replace it. we have plenty of ideas to replace it and you will see as the weeks and months unfold what we are talking about reef placing it. bert quhois lower prices without having the government take over healthcare which is causing the problem in the first place. >> we are talking about a transition that will happen relatively quickly if he will take action in the first day.
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is it possible you extend some of these provisions for a temporary period of time? people want to know what this is going to look like, not only us in the room, but people across the country want to know. >> i want to be very clear. looking on to look into -- i was commending you to do something -- good to be back. it really is. i commend all of your attention to the president-elect's speech in philadelphia where he laid out a plan to repeal and replace obamacare. he laid out the prints of harnessing the power of health savings account and being able to purchase insurance across state lines.
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we'll insist upon and implement working with the congress and using executive authority to make sure it is an orderly transition. we are working right now, the white house staff is, on a series of executive orders that will enable that orderly transition to take place even as the congress appropriately debates alternatives to and replacement of obamacare. >> the provisions might stay in place until there is a new full plan. >> we have been saying all along we don't want to pull the rug out from people while we are replacing this law. we don't want people to be caught with nothing. we want to make sure there is an orderly transition. >> on the repeal and replace, can you give detail on the executive actions that are planned? how does that square with the
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conflict budgetary process that's involved. >> they are hand in glove. we are work on the legislative process right now. the senate is acting and the congress will follow while the administration works on the executive orders to deliver the transition relief we have been talking about. the problem is obamacare failed, families are hurting, they broke the healthcare system. so we are going to make sure we are going to have an orderly transition so we can get back to what we want which is lower cost healthcare and more choices. and not a governmenty government takeover that bankrupted this healthcare system and left families struggling. >> we are working out right now with the white house staff and
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in concert with legislative leadership a two-track approach to insuring it is an orderly transition as the president-elect has direct. you read his tweet this morning. that he has admonished the congress to be careful. and i reiterated that before the republican conference today. we are talking about people's lives, we are talking about families. but we are also talking about a policy that has been a failure virtually since it inception. and we intend over the course of the coming days and weeks to be speaking directly to the american people about that failure, but about a better future we can have in healthcare. a future that is built not on growing government, not on mandate, not on taxes, but a future built on giving the american people more choices in
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healthcare. allowing the power of the free marketplace to flow in. the transition to that we'll work out in a way that reflects the compassion of the president-elect and every member of congress to see to it we do that in a way that serves the best interest of the american people. what's clear here is the american people have spoken. they want to see us repeal and replace obamacare. my message to members of congress is we'll be in the promise-keeping business, and the first order of business is to keep our promise is to repeal obamacare and replace it with the kind of healthcare reform that will lower the cost of insurance. >> how do you prevent private insurance from pulling out once you repeal? stuart: what you are looking at and what you just saw was obamacare under sync.
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the republicans are going after it, vice president-elect pence said we are going to repeal this thing but we'll then have an orderly transition to a new system so people aren't left high and dry with nothing. that was the end result of the press conference you just heard. it started with speaker ryan being particularly harsh of his criticism of obamacare. i was listening and you were, too, it's a failed system, a healthcare system that's been ruined. liz: it was tough word, harsh word. that mandate tax goes away. president obama is now on capitol hill. he's lost both mid-terms by saying this is about my policies. i don't know if he can galvanize
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support when they lost the governorships, the legislatures, and both houses of congress. stuart: this is a very big day. we are trying to work out what happens in the future. we understand it, republicans want to have a bill on president trump's desk by february 20 which will repeal obamacare. there will then be an orderly transition to a new system. are you convinced nobody will be left high and dry without any kofn at all? >> i think as president-elect pence said and the speaker said, i think healthcare will be better when obamacare is gone. everything they said about the bill turned out to be inaccurate. premiums would go down an average of $,500.
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healthcare will be bert and less expensive when it's gone. repeal and replace it. but here is the key. it definitely happened for this congress. the idea it may take several years to do that. we shouldn't do that. so we need an orderly transition. we know how bad obamacare has been for families. stuart: it seems the key is the mandate which is part of obamacare. you have got to have coverage and it's got to be this coverage. if the repeal bill gets rid of the mandate, you've sense are you right there and then, you have changed everything. >> you changed everything, you get rid of the taxes and the mandate. when we put together the replacement approach, it will be market oriented. we have obamacare which is
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washington focused. washington centered. let's get back to patient centered, family centered. let's get back to a marketplace model. let's get back to that kind of model. that's why you heard vice president-elect mike pence talk about medical savings accounts. you heard him talk about purchasing insurance across straight lines. that's what we have to focus on. if you do that. that will be the orderly transition the speaker is talking about. stuart: there is one thing that seems to be popular in obamacare which a lot of people want to keep, that you have your children up to the age 26 included on your health insurance policy. >> if that's popular amongst the consumers that's likely to
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develop in the marketplace. of course, we would like to do that, but we won't want the government to say you have to do that. that's what we told the voters we were going to do and that's what they elected us to do. stuart: you have got to figure out what to do with 15% of the american economy when you repealed the obamacare law. it's going to be difficult to get a replacement in place relatively quickly. >> always start from the premise i mentioned just a few minutes ago. this has driven up the cost and provided worse care for the entire healthcare system. i start from that fundamental premise. healthcare will be better, it will cost less when we move away from obamacare, when we repeal obamacare and move to a
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patient-centered model. that gets you on the right track to do what need to be done and what we promised voters we need to do when they elected us a couple months ago. stuart: katie pavlich is with us. she has been listening to all of this the past 45 minute. vice president-elect pence says job one, get rid of obamacare, then an orderly transition so nobody is left high and dry. did you like what you heard today? >> i like it, but i'm still curious of the details of what that means. it's easier to repeal the legislation than put in something new. and we don't have a lot of details about how they are not going to leave people quote high and dry. the whole premise behind obamacare was a government
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program to allow people who couldn't afford or have access to healthcare to have healthcare. does this mean we'll have another government program to scoop up those types of people seeking health insurance? what does that mean? we haven't heard a lot about how they are going to open the free market to develop a system they can be a part of. there is going to be a large population of people as there was before obamacare and during obamacare who don't want health insurance, who aren't going to sign up for health insurance. they are going to go to the hospital and emergency room when they have a problem, and they won't pay for it. so they will have to figure out a way to pay for it. there will be a population of people who take that route. stuart: 19 million people did receive coverage under obamacare.
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80% of them went on to medicaid. >> those expansions come at the state level. so this is not just an issue in washington, d.c., but at the state level the government, legislatures, governors are going to have to figure out how they work around an obamacare repeal and whether people on medicaid will be there permanently. so does an obamacare repeal cover the medicaid expansions we have seen inside all these state? is it a good thing we are doing this? he took a shot at president obama saying he's on capitol hill talking about ideas of the past. moving forward there will be tough issues to deal with and there will be expensive and consequences in terms of policy and politics. so republicans have to be careful about how they go about this. it's good they are able to get
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to the finish line now that there is a republican in the white house. stuart: essentially we have president obama, he did not take any questions. he was on capitol hill. he did not take any questions from reporters. there is going on a news conference held by senator chuck schumer who leads the democrats in senate and nancy pelosi who lead the democrats in the house. can you see on the left-hand side of your screen. that's the sign they have up in advance of the news conference. you can right. it reads "make america sick again." i know you are laughing, but that's what i'm looking at. >> that's what they are going to do. they are going to accuse republicans much not caring about people.
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they accused paul ryan of wanting to if you are granny off a cliff for wanting to reform medicare. stuart: i think you preempted their news conference. you are an original thinker. thanks for being with us. i want tro to bring in brunell shea, formerly a bernie sanders supporter, now a trump supporter. good morning, and god bless america. i want to know what you think about what we have been listening to about obamacare. the republicans say it's going to be repealed as of january 20. there will be a transition period where we develop new plants for what replaces obamacare. what do you think of what you have heard so far?
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>> first and foremost i love the tenacity of our have atlantic mike pence as well as speaker paul ryan. i was encouraged to know they have seen a system that did not work for the american people. and they are not going to put it off. the american people are not on the back burner anymore. we are not last in line. we are first in line. what i heard from them is passion, and it made me feel important as an american. i know so much other people on obamacare who have suffered behind -- are just breathing a sigh of relief this morning. i know there are a lot of high fives and hugs and husbands kissing their wives and people dancing in their cars to know we'll be in the front seat of this trump train so to speak and being appreciated and valued
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like the wonderful, awesome nation that we are. it feels good. stuart: are you not a little worried about the 19 million people who did receive coverage under obamacare, many of them went on medicaid. what's going to happen to them? you have got to be a little concerned there. >> we went and we voted for donald j. trump, the president as the well as mike pence as the vice president-elect. we have got to trust in their instincts. trust in their judgements. now we have to trust in their plan. what happened is this. they are working with congress. they are working across the board and across the table. but we have got to just get behind them and let's see what's going to happen. i'm not saying everything will be perfect. we'll have ups and downs this next four years. what we cannot do is try to
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undermine or under estimate the amazing people that have been chosen to lead us. i would say no worries for me. i will truls in the leadership that we have chosen. i see tenacious people who are determined to keep promises that have been broken to the american people. stuart: i know you are a christian. i understand that. about a half-hour ago we had the reverend franklin graham with us. >> hi, franklin graham, love him! stuart: he said he felt the hands of goth god was part of the election. that god intervened in the election. >> yes. stuart: and basically tilted -- i don't want to put words in his mouth. do you believe that? >> i am a democrat. i always voted democrat all my life.
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my husband is the republican. my husband was like, you know, sweetie, you have got a great voice, you are an excellent communicator, why don't you get behind donald trump? i said what? over my dead body. but it was in prayer i got the go-ahead, the green light to start speaking about what done there are, our president-elect was saying on the campaign trail. it was god that led me to get behind him like never before and pack out when beam were misinterpreting him or misunderstanding him and saying this is exactly what he is saying. it was the hand of got, and 81% of eve van gel cal christians who put him in office. if not god being for a donald j. trump and a mike pence, i don't believe he will be president.
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he saved us all from a catastrophe of possibly four years with hillary clinton. stuart: do you see a lot of black folks turning around? black folks heavily supported hillary clinton and democrats for a generation. do you see a turn there of any magnitude? >> what i would say is this. black people want a seat at the table. we want to know we'll be respected. that we are going to -- the promises that were broken by president obama. that donald j. trump, our president-elect will make a determined and strong effort to right the wrongs of the people. and i believe once donald j. trump and mike pence put some results behind some of the words about investing in community and about jobs and school choice and building that wall and the security and protection, not only african-americans and hispanics need but the entire nation needs. i bleach once those results are
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showing, i don't believe he will have an african-american problem four years, a white problem or asian problem. we'll have another four years after this four years of donald j. trump, the president-elect. stuart: god bless you and god bless america. >> i receive it in jesus' name and god police and god bless america. stuart: former share of pinal county, arizona, sheriff babeau. i caught mike pence saying the order of business forward administration was the reform and repeal of obamacare, and second was build the wall. you are almost on the bored. you heard that? >> absolutely. this is something that's been needed. the american people want it. any sovereign nation requires that you have secure borders.
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we should be able to determine who comes into -- our country. we have seen open borders and not just 11 million, up to 20 million estimates of illegals who are here. the most concerning is the 1 million to 2 million that president-elect trump talked about who have many criminal histories that 74% of which are convictions of felonies. these are very dangerous criminals we'll target, identify and deport out of the country. stuart: in your county, aone point not too long ago there were no healthcare insurers -- there were none in your entire county. i believe one has now come in. you must -- i guess you are
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pleased this repeal of obamacare? i guess you are. but wait a minute. what happens. february 20 when the president signs what is expected to be the repeal of obamacare bill. you don't know what's going to happen. where are you going to be? >> look at where we were in the past. you had free market principles that prevail and lower premiums. we have the highest premiums set to take place. as high as 116%. that's for the consumer. you have huge deductibles that became unaffordable for anybody to get any care. emergency care or regular treatment. then in addition to that. our government, this our tax dollars were subsidizing these plans even further, 50%, 80%. so this was a failure from any perspective. democrats have agreed, not the ones in office and congress. this will be repealed and we
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should have free market principles again. set the market with the consumer. >> i want to get back to the immigration issue and the wall. we are told there has been a flood of immigrants crossing the border illegally recently, to try to get in before mr. trump takes over january 20. can you confirm that? >> we have seen the numbers bear that out. you look at the new fiscal year that starts in november. there has been a 44% increase. this is far greater than any recent november that we have seen. many suspect this is because the border is going to be shut down. there is a mad rush, as well as the fact all these criminal illegals still are out in our community. there is no prioritization even though jeh johnson and the gang said this is what's happening. law and order is about to be restored.
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so people are about to rush in here before this border is finally secured and a wall is built. thanks very much for joining us. let me recap what's going on. on the left-hand side of your screen you are looking at a -- a podium with a sign attached to it. that podium will be occupied by senator chuck schumer and nancy pelosi. they will hold a press conference momentarily, and that sign, make america sick again. they appose the repeal and unwinding of obamacare. he's organizing the defense of obamacare. they will hold that news conference momentarily. previous to this we have seen several leading republicans take
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to the microphone, denounce obamacare, and put in place the plan for it repeal and the transition to something different. we have speaker paul ryan particularly harsh in his criticism of obamacare. he said it has failed, the healthcare system has been ruined, and healthcare in america is getting worse. strong stuff from the speaker. then along came vice president-elect mike pence who said look, job one is repeal obamacare. then he said there will be an orderly transition to something else. that's where we are. it's 11:00 eastern and essentially what we have got is the showdown over obamacare. it's taking place today, and we are told the republicans are going to have a bill on president trump's desk february 20 which will repeal obamacare. that's where we stand. we are waiting for the democrats to appear, left-hand side of
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your screen. i believe we have chris stirewalt with us. yes, we have. this has been a dramatic day. how do you see it unfolding here? >> the democrats are trying to make sure republicans pay maximum political cost for this repeal. donald trump alluded to this that the republicans will end up owning what happens here. what trump suggests and what many suggests is obamacare will collapse of its own weight and maybe it would be better if the republicans didn't get their hand so muddy about this. repeal it, get some of the goodies up front. you get the tax revenue back because of course obamacare
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included a huge tax increase on get that back right off the bat. republicans like that. then you say we have repealed it. then you sunset the provisions that provide coverage to the obama care exchanges for two or three years, which theoretically business you time to build an install a replacement, there is as mike pence said continuity. democrat want to hurt republican efforts to do that, they can say you're hurting people, taking them off their health care, they're dying. stuart: that is the politics of it. what people want to know if you repeal the thing lock, stock and barrel on february 20th, does that leave people who have coverage under obama care, does that leave them high and dry? >> no. stuart: that was the difficult question placed to mr. pence and speakerç ryan, go. >> not at all. they're not repealing it. it is repealed as of this date certain. they have passed this through the senate. they have done it before, need
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to do it again in new congress. they have 51 votes they need to do it budget reconciliation. procedural end around democrats put it in the first place. they put it through. say we repeal it. nothing will happen. tax cut comes back. none of changes to the coverage have been right away. these things happen down the road. in fact what conservatives are worried about in washington today is that they will keep kicking the can. stuart: keep going. i didn't interrupt you. you sounded like you had a message in your ear and you were interrupted. i did not interrupt you, chris, you were in full flight. keep going. he can't hear me. we lost the audio. >> looks very pensive.
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i'm interested in president obama going to capitol hill. i don't remember him going there. ashley: make america sick again, that says it all. will be the message. liz: democrats make a tough midterm in 2018. this will be critical how they come down. trump said democrats were taking seats in both chambers. here's the key. i mean if they present a plan that unravels the mandate tax, then obama care falls abart. what is the option? tax credits to buy catastrophic insurance. keeping your children on your parents plan. it is preexisting conditions. this whole thing make america sick again, i'm not sure they have the argument to undercut the republicans plan pulling together. stuart: we don't necessarily have to have the argument. if you put it out there, you win the politics. that is your play in this game. keith fits with us. that would be keith fitz-gerald.
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apologize for shortening the name. i'm sure you're watching this, tell me if you can, what is with health insurance stocks and drug company stocks? republicans say health insurers their come down. can you explain the relationship between obamacare and stock price of health insurers and drug companies? >> this is last call for a bar fanatic. obamacare fed profits directly of those health care insurers. think they tumble, 30, 40s 50% if obama care gets taken away. impacts subsidies and profit margins. get back to the patients, doctors. that speaks well to pharmaceutical companies. you will have is a split we haven't seen in years. it will be food for both sides.
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stuart: let me summarize this. health insurance stocks come down. they started to move down already. big companies, drug companies stay -- is that the way you see this thing coming down? >> yes. health insurance driven by profit mechanism totally artificial, obamacare. health care companies are driven by patent protected drugs they have to have a revenue stream. it is a tremendous source of multibillion dollars of profit potential investors can tap into. stuart: you're a market guy. you're an investor. you manage money. that's what you do. which stocks would you buy to take advantage of the demise of obamacare? >> well the number one on my list is a stock we talked a lot about recently, abbvie. they have a hue mara.
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this accounts for 50, 60% of the revenue. this is you all a time we're all getting older. arthritis is very real threat. that to me is interesting. profit margin, 77% gross profit margin. 24.8%. that is great dividend for income-starved investors. stuart: keith, great. i want to get back to chris stirewalt, our politics guy. come back to keith in a moment. chris, one. thing that gets to me, the mandate that you must have coverage and you must have this broad based coverage. if that goes away, andç likely that will be repealed as of february the 20th, then all hell breaks loose, because you have taken away very basis of the driving force of obamacare, am i right? >> but in the dry run as republicans tried under president obama knowing that he
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would veto it or never sign such legislation, their basic model was, don't do that right away. don't start at repeal, full repeal. you do symbolic repeal with the sunset. if we recall where the democrats ended up on bush tax cuts, so-called bush tax cuts, republicans only got them passed because they had a sunset. every time first couple times, democrats came on sunset, and taxes to go up, said we can't afford to do that right now, we are going to wait. republicans find themselves in a similar situation. they will sunset this, or we expect them to sunset this. we voted to repeal it. and that repeal will go into effect on a date certain. if that date certain happens to be politically inconvenient time or difficult time, concern among conservatives people like rand paul, replace now, repeal and replace concurrently, those folks, they will just keep kick the can, and some form of obamacare will live on in perpetuity.
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stuart: that will not make conservatives very happy. they will say wait a minute, wait a minute, we voted for donald trump because he said repeal and replace immediately. >> this is true but donald trump also made a clear mandate to republicans that he was absolutely certain about today and mike pence echoed there shouldn't be disruption of coverage. for republicans who favor a market-based approach, they want to focus, conservatives change discussion from coverage, access to care. doesn't matter if you have coverage if you can't get good, real care. they want state level approaches, selling across state lines. they want to talk about having high-risk pools in the state. things like that. if mandate is from the white house, keep everybody covered covered now, that will job for congressman, and moves the goalpost for them. stuart: explain to the viewers, left-hand side of the screen, president obama greeting people
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on capitol hill. he has been there this morning. he is urging democrats to fight repeal of obamacare. he is meeting crowds of people, youngsters who assembled to greet him. shortly we'll hear from nancy pelosi, former speaker of the house and leader of house democrats and also from senator schummer who leads democrats in the senate. we'll be hearing from them. on the right-hand side of your screen, they will hold a news conference. that sign says make america sicker again. that obviously refers to the repeal of obamacare. that is their political line. that might be a successful line, chris, what do you think? >> i think a couple of things. first i do not understand the president's calculus going to the hill to talk about this the law will be repealed. it will at least nominally be repealed. they have the votes. it will happen.
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probably the first act of the new congress or first legislation signed by donald trump. the real fight over these components happens later, farther down the line. i don't understand how the president saying keep parts of his legacy already dismantled as we look from withdrawal of iraq that never really happened, emptying guantanamo, other promises eight years ago he wasn't able to deliver on. why does he go to the hill today to fight the repeal, when in fact everybody knows this is forefon conclusion? stuart: isn't it desperation, chris? the man sees his legacy in shreds. virtually all his policy initiatives have or will be dramatically reversed. this is desperation, isn't it? >> i don't understand the moment. i think he is putting democrats in a very one of the consequences, you guys talk about, when you talk about business, creative destruction. when you have a bad law, there would be no barack obama in 2008, the democrats would not have had the good years they had in 2006 and 2008, to take total
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supermajority control of congress if al gore, let's say had hung around. let's say ll cinton never really left and tried to maintain his role as leader of party. creative destruction follows losses. new leaders emerge. this produces good outcome in politics. obama says he is staying and continuing to try to act the leader of his party. instead of resigning, continuing to live in d.c., instead of resigning he had his moment, did not work out the way he wanted to now he has to let the market of politics dide. stuart: is heç positions himsef to be present and future leader of the democrat party? is that is what he is doing? >> that seems like the effort. he feels it is his job to raise up new generation of leaders but that can't happen if you're still in the room. if you're still there, your organization, your people are still present, you're still
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active, the forest fire burns through after a loss creates under growth, clears out under growth necessary to have these trees grow stronger. obama is not letting them do that. today is a good example of that. stuart: chris, hold on for a second. thank you very much for your contributions so far. just walking into our studio is one and only judge andrew napolitano. he foolsfollows these things very closely. i have a question for him he may not be expect. >> what is that. other than it is a delight to listen to stirewalt under any circumstance. stuart: you have to flatter the host of the show. >> it is a privilege to sit next to you even with that tie you're wearing. stuart: even with that. 19 million people have received coverage under obamacare. most of them have gone for medicaid which is free health care. got it. how do you take away something which the government has previously given to you? >> that is the constitutional
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obstacle the republicans have. in my world, basic economics 101 and the constitution intended to be as it was written, the government would replace obamacare with nothing, the free market, allowing consumers and investors to buy, sell, trade, create health care products for themselves. stuart: can't do it. >> ultimately there would be a market for every need but we do have something called the takings clause, which prohibits the government taking something from someone without paying for it. if the government given a benefit to use the obama care phrase, which chris is familiar earned under four times the poverty level they're entitled to essentially free health care. it is either paid for by the government or they receive a tax credit on the irs bill so there is no money outlayed by them for their health care. it would be very difficult for the government under president
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trump and republicans to stop that. the courts say once a benefit not given is taken away without compensating for it. stuart: it is not as easy to think, is it? wave your magic wand. >> what gets under my skin, as chuck schumer said as he did yesterday, mr. president, what will you replace obamacare with. nothing. it is not the duty of the federal government to provide for the health care of anybody in the united states of america. it is not in the constitution. and the congress can't give itself that authority. ask stirewalt thinks about that. stuart: only matter of time before the libertarian came out. wait a second. i have to interrupt. chuck schumer -- >> and his -- stuart: former speaker pelosi are taking the podium there. they're about to address the audience what they were saying with president obama about obama care earlier. the sign says "make america sick again." let's listen in. >> okay good afternoon -- good
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morning, everybody. we had a great meeting with the president. virtually all of our caucuses attended. he was very inspiring, telling us, we were working out our strategy and we have a great deal of optimism that the good things that have happened in acr are going to stay and and that our republicans colleagues don't like to do. like the dog who caught the bus. they can repeal but have nothing to put in its place. that means so many good things go away. that was basically the summary of the meeting. i want to thank my colleagues being here, leader pelosi, our leadership team and senators harris, sanders, klobuchar, warren, stabenow, pat murray, baldwin, holland for coming. again the president articulated
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importance of the preserving the affordable care act and medicare and medicaid only as he can. it was inspiring meeting for all of us. probably last time the president will address the joint caucuses together. it was valuable to hear because the first big fight of this new congress will be over health care. republicans are plotting and soon will be executing a full-scale assault on the three pillars that support the american health care system. the affordable care act, medicare and medicaid. the republican plan to cut health care wouldn't make america great again, itç would make america sick again. and lead to chaos instead of affordable care. republicans would create chaos in the health care system because they're stuck between a rock and a hard place. they have no idea what to put in place of the affordable care act. for years they have talked about
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repeal but for five years now they have had nothing to put in its place. it's all starts with the aca. as we all know the aca is a delicate balance. president-elect trump even expressed support for the three most popular parts of the law, preexisting conditions, allowing young people to stay on their parents insurance until age 26. equal treatment for women. but republicans will soon learn that you can't keep the good parts of the aca and remove the rest of the law and still have it work. and that's what they're struggling with. that is why they're not getting anywhere. what they would do would throw the entire insurance marketplace into chaos, plain repeal. it would increase costs for all americans at all income levels. it would blow a trillion dollar hole in the deficit. and now i see the
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president-elect was tweeting again this morning. he said republicans shouldn't let the schumer clowns out of his web. well, i think republicans should stop clowning around with the people's medicare, medicaid and health care. republicans are stuck, for years they promised every conservative group in america they will repeal the aca, quote, root and branch. until today they could make those extreme promises without suffering any consequences because they knew democrats or president obama would ultimately block any roll backs in aca. but now, republicans in congress are again, like the dog who caught the bus. they can't keep all the things that americans like about the aca and get rid of the rest, without throwing the entire health care system, not just those on aca, those in private insurance into chaos. one of the things they will hurt
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the most is rural hospitals, right in their heartlands. the minute they enact this repeal, are going to suffer dramatically. in 11 state capitals, many in red states, rural hospitals are protesting the republican action. so, we're here today to warn the american people that the republican plan to cut medicare, medicaid, repeal the aca, will make america sick again. instead of working to further insure affordable care for all americans, they seek to rip health care away from millions of americans, creating chaos in our entire economy. now, as my colleagues will outline shortly, the republican plan would kick millions off coverage, whether it be medicare, medicaid, or the affordable care act. it would cause premiums of many
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people to skyrocket. 75 million who are covered by private insurance. their premiums will go up too. it would harm hospitals in rural areas. and it would put insurance companies back in charge. we stand here united, united. we are a united caucus. we are two united caucuses and we're united in our opposition to these republican attempts to make america sick again. and now i want to turn over the podium to leader pelosi. >> thank you very much, leader schumer. i associate myself with your remarks. you covered a lot of territory there. i too want to join you in commending the president for his presentation this morning to us. it was one of confidence. it was one of values. the affordable care act was about, it was transformative in terms of what it meant in the lives of the american people and that health care in our country
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is a right, not a privilege. if there had been no other reason for us to pass the affordable care act, one compelling reason was cost. the cost to the individual, to families, to businesses, small and corporate, and to the public sector was totally unsustainable. so we had three goals. one was to lower costs, to improve benefits and third to increase access. in all three of those arenas the affordable care act has been a big success. when we talk about rolling back the affordable care act, we also are having impact on medicare. the affordable care actç prolonged the life, extended solvency of medicare, it expanded medicaid. this is very important to america's families. former speaker once said all politics is local. in this case all politics is
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personal. so when mr. schumer, leader schumer talks about the 75% of the people who get their benefits in the work place, that is so, they are affected by the affordable care act in that the cost, increase in premiums is lowest it has been in the 50 some years they have been tracking that. so it is contained costs. it has increased the benefits package, as leader said, in terms of no discrimination, in terms of preexisting condition, no lifetime limits, no annual limits. stay on your parents premiums. being a woman is no longer preexisting condition. so the package is better. rate of growth of cost decreased. and the fact of many more people being insured by the 20 million people who are now insured who did not have access before. the most privileged person in america has better health,
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everyone has health. everyone is in the loop. now, the republicans say repeal and replace. the only thing that it has going for it is alliteration. they have no replacement plan. they have no replacement plan because they just, they can't, they can't, they don't have the votes for replacement plan. so to repeal, and then delay is an act of cowardice. that means we don't really know what we're doing. and, recognizes, it recognizes that the consequences to them of just straight-out repeal without some replacement. so we have a values debate on our hands. it's very personal in the lives of the american people. a friend of mine told me his grandson was diagnosed with lukemia. that child will have preexisting condition rest of his life.
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repeal affordable care act, that's a problem. life too time limits. that's a problem. if you're a senior, medicaid, almost half of medicaid is about long-term health care. you want grandma living in the guest room? you repeal the affordable care act. you go along with, this is part of an initiative that is part of the ryan budget, that says we'll voucherrize medicare. we'll going to block grant medicaid. so this has, tremendous assault on the health and health security and financial security that goes with what the affordable care act has done for the american people. and so make america sick again, is that what the republicans want to do? i certainly hope not. hopefully we can work together to find a path to address some of the concerns they may have, but not to undermined this pillar of economic and health
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security for the american people. it stands right there with social security which they want to undermine, medicare, medicaid, which they want to undermine, affordable care act. the president asked us are you ready? do you have the fight in you? he didn't need to ask us that question, i don't think. with that i'm pleased to yield to leader on the fight, bernie sanders. oh, patty murray. another fighter. >> exactly. thank you so much, leader pelosi. you know republicans have made all kinds of empty promises about how ripping apart the health care system with no plan to replace it, somehow won't hurt anyone. but i would like to focus on one promise the republicans made. that if they repeal the affordable care act, privatize medicare, and cap -- ut: we ha he some very strong words fro the democrat leader of the senate, that would be senator charles schumer, who talked about the chaos that
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would be created by the repeal of obamacare. he was followed by leader pelosi, who leads the democrats in the house, who called the repeal of obamacare, an act of cowardice, if there is no replacement. we have a variety of opinions on what we've heard so far today. i will start with judge napolitano, for the legal response to what weveeard so far this mornin judge. >> the constitutional impediment we spoke earlier, you have gre difficulty taking away a benefit once given. that would mean that the vast majority of people who's health care subsidized directory by government paying for it, or by tax credit, would have to go on some sort of a government-paid program but the mandate would be gone. theç regulation of the health care industry would be gone. the exchanges would be gone. the apparatus that purports to centrally plan 1/5 of the
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economic activity united states would be gone and the free market would move in. stuart: if the mandate is gone that unravels the whole ball of wax? >> yes it does. stuart: you can not proceed if you have no mandate to force this to be covered and this covered? >> trump said dozens of times the mandate will go. stuart: now that is the legal view of things. i want to turn to the financial view of things. keith fitz-gerald still with us. you were grinding your teeth throughout what you're hearing. why are you so upset. >> they're playing buzzword bingo at expense of american people, this is about providing health care in a system that 69% of americans didn't want in the first place. the free market absolutely needs to move in. here is november strell idea, let the doctors set prices. if there are patients want the care and doctors free to do it, then insurance companies step out of the way and do exactly what they're supposed to do is insure things, not act as
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primary safety valve. this drives me nuts. stuart: from a financial point of view, keith fitz-gerald is saying get rid of obamacare, don't want itbad for the country. is that what you're say. >> not only bador it, our healthnsurance premiums gone up 400%. i'm one of the guys heard pinched in the middle. i heard keep your doctor, this is great for you. count me out. no way. of the let me free markets take over. mandate a fool for those supposedly uninsurable. see how that rings out. everybody deserves national health care. we have to reprioritize the profits involved. stuart: keith, i have to let our free market guy who is on my right here, judge napolitano, he will have 20 more secds about the fry market. >> i agree with keith's free impulses in the market. there is no right to health care and no obligation on the part of the federal government to provide it. the constitution doesn't shore rise the government to get it g,
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health care diminished, costs more, doctors leave marketplace. we have the mess today. stuart: let's get view from the state. i'm attorneying to the attorney general great state of louisiana, mr. jeff landry. welcome to the program. are you with us, sir. >> yes, sir. stuart: can i interrupt for one second. i let ouriewers listen to bernie sanders who is now speaking. hold on attorney general. >> donald trump tweeted, quote, i was the first and only potential gop candidate to state there will be no cuts to social security, medicare and medicaid. now the point is, trump didn't just say this in passing. he didn't say it in the middle of the night. didn't say it in a particular interview. this was a cornerstone of his campaign. he said it over and over and over again. donald trump said he will not cut social security. he will not cut medicare.
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he will not cut medicaid. therefore one of two things are true. either donald trump simply lied to the elderly and working people of this country, and just made campaign promises that i had no intention of ever keeping. that is one reality. or there is another reality. and that is right now, before congress wastes an enormous amount of time, donald trump has got to come forward, maybe through tweets, one of his tweets, and say, clearly, that donald trump will veto any legislation that cuts medicare, that cuts medicaid, or that cuts social security. and if he makes that clear, to his republican colleagues, we can save us all a whole lot of time. and start getting to work doing what this country desperately needs to have done.
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>> good job, bernie, thank you. stuart: i don't believe there was ever a proposal from donald trump to cut social security, medicare, or medicaid as mr. sanders, senator sanders just implied. i don't believe trump ever said it. >> on the contrary, he said he would not cut those three programs. stuart: precisely. democrat are bringing in all these red herrings to support a failed system. that is all they have got. liz: what president obama told them to do in closed-door meetings. expect health reform rallies. president obama said block replacement measures and secondly, start referring to the gop plan as trump care. stuart: jeff landry, attorney general state of louisiana. i'm sorry we cut you off to go to bernie sanders. i really apologize to that. i did it. now i am back to you. what do you make of what i am hearing so far this morning, a, from the republican, repeal this thing and haveç transition to
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different system, and b, from the democrat it will create chaos and make america sick again? your reaction, sir? >> i would tell you our health care system is sick because of obamacare and we do need to repeal an replace it. if anyone wants to make the argument that prior to obamacare our health care system was sick, i would tell them obamacare was cure, i would tell them the cure has been worst than the disease. i was just with health care providers last night at a meeting under which they were telling me the weight of obamacare is breaking the system. and what you find is that people no longer have access to the quality health care that we had prior to obamacare. all of it is being caused by these regulations and this current health care law. it absolutely needs to be scrapped. and it absolutely needs to be replaced. stuart: am i right in saying, we've been saying this all morning, that if you get rid of the mandate, the mandate says
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you have got to have coverage, it has to be this coverage, if you get rid of that, essentially you have gutted obamacare, is that accurate? >> that's pretty accurate. i mean, at the end of the day we're supposed to be living in one of the freest countries in the world under which you can make people have the ability to make those types of choices. it is about individual responsibility, and personal liberty. and again you're right, if you eliminate the mandate that every person has to carry this type of insurance, then certainly you've taken a big chunk out of the health care law. stuart: may i ask you this? medicaid, many, many people were covered under obamacare but were really shunted on to medicaid, free health coverage provided by taxpayers. that is a state issue. what are you going to do in the state of louisiana with those people who are on medicaid because of obamacare, which has just been he repealed?
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>> well, we've always said republicans, have always said, one of the best ideas about dealing with medicaid is to block grant that money to the state. let each individual state make the determination how to apply that money, how to employ the money across their particular health care services. i think that in one way, you would find a huge cost savings. at the end of the day, maybe save that medicaid program. stuart: okay, sir. looks, thanks very much for joining us. we appreciate this. this is ongoing, flowing situation. i want to get back to the judge for a second here. it just looks to me like a political exercise, not from the republicans but from the democrats. i'm shocked at what they're saying. >> i'm not shocked but disappointed. the democrats are using low blow, lowbrow, granny over the cliff tactics. sounds from the report emac gave us a few minutes ago, some of this terminology, granny in the
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attic or. >> liz: guest room. >> came from the mouth of the president himself at a closed-door, press out, no transcript mighting with democrats and congress. stuart: leader pelosi did say, you want granny in the guest room, no, you don't want that. that will happen if you get rid of obamacare. that is the conn text. >> exempt she has for goat inch that the president-elect has promised, he will not touch social security, social security, medicare, medicaid. granny has to be on one of those three programs. ashley: said repealing without any plan in place was act of cowardice is very strong point. stuart: leader pelosi is making argument right now you can not take something away from somebody. listen in for a second. >> benefits of affordable care act said i didn't vote to take that away. so it is one thing to say to people, this is what you can get. it is another thing to say, this is what will be taken away from
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you. and that is a different case and that is a case that we will make. as i mentioned earlier, the president's message was one of confidence, confidence in the affordable care act, and what it means and does for people. confidence in its implementation. confidence in the humility we have to listen to other ideas, as they have in their replace, something that -- stuart: can i get health insurance, just asking our producer get the health insurance stocks on the air because when this began this morning, health insurers started to come down. liz: there is a reason for that because what is the playbook for the democrats? what do they want from donald trump and the gop? one play is, have the democrats force through, via the gop, more ways the federal government cracks down on state insurance regulators to curtail of cost of insurance. more top down government controls of the insurance market. stuart: that is going away.
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therefore insurers, health insurers come down. liz: want them basically crack down on insurance companies viaç insurance regulators in the state. stuart: let me recap where we are. we understood from the republicans this morning, that there is going to be a bill on president trump's desk on february 20th, which would be the full repeal of obamacare. there would then be a transitional period where you have the transition to a new and different system. >> presumably free market-based. stuart: presumably free market based. health savings plans. buy health insurance across state lines. that will be underactive discussion for the next many months i presume. so that's where we stand. liz: they keep using the words, democrats that the gop wants to introduce chaos into the system by repealing obamacare. many consumers would say, doctors would say already is in chaos. obamacare introduced chaos into the system.
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stuart: health insurers are down. not a huge decline, by any means but all of them across the board are down. i believe the big drug companies, pharmaceutical companies i believe that they are mostly higher. the stock market has not been -- there you have, pfizer merck, eli lilly, johnson & johnson, not a huge gain by any of them they're up. overall the market has not been affected by what we heard about obamacare this morning. before we go to commercial break, show me that one again, judge. i want to read a tweet. this is from vice president-elect pence. i think this just about sums up the activity of the morning. here's the quote from mike pence. we're going to keep our promise to the american people, period. our first order of business will be to repeal and replace obamacare. that is what you have seen unfold this morning. we'll take a commercial break. got to make money here. we will be back.
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>> i'm nicole petallides with your fox business brief. president obama discussing how to salvage the affordable care act. we heard from democrats today, chuck schumer, bernie sanders, nancy pelosi, as they -- health insurers to the downside. aetna, cigna, humana, losing ground, all with down arrows as dems work to save this. last six years republicans made
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dozens attempts to change and repeal it. president-elect trump plans to do exactly that. the hospital stocks with all up arrows. names like tenet health and hca holds with up arrows and key eye on drugmakers. names such as pfizer, merck, johnson & johnson, holding on to up arrows as well. the broader market overall? up arrows. the dow up 39 at 19,920. 80 points away. liberty mutual stood with me when i was too busy with the kids to get a repair estimate. i just snapped a photo and got an estimate in 24 hours. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance
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>> the first order of business is to repeal and replace obamacare. and that was our message today, and it will be our message on capitol hill and it needs to be done. others are visiting the capital talking about defending failed policies of the past. we are here today, speaking to republican majorities in the house and senate, to advance policies that will make america great again and have a more prosperous future for all the people of this nation. stuart: that was the first order of business right out from the republicans first out of the blocks this morning. then we heard from the democrats. senator schummer and leader pelosi, they of course oppose the end of obamacare or repeal thereof. dr. siegel is with me. i will raise an important issue here and i think you've got an answer to this question.
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there are a lot of people who are very worried, they have a preexisting condition. under obamacare they were allowed to get health insurance. they're very worried if obama care is repealed, and it will be, that preexisting coverage, preexisting condition coverage will go away. what says doc siegel? >> i have a message for my patients with diabetes, heart disease, and hire is my message. under obama care you're getting policy on exchange isn't paying for all medicines i want or getting you specialists for diabetes. we'll create high-risk pools. those high-risk pools will be subsidized by the government. that is where subsidies belong. i predict you will end up with comprehensive policies will cover medicines you need, will cover specialists i want to refer you to. more choice. and probably premiums will be lower. they're wasting $42 billion on subsidizing everyone. subsidize the high-risk pools. stuart: so your plan, i believe
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your plan is reflected in plans republicans are now talking about -- >> absolutely. stuart: you create high-risk pools for those people who do have a preexisting condition like, diabetes. those people go into the high-risk pools. those pools are subsidized by the government, and that is how you work out this problem? that's it? >> and that's, yes, and that is absolutely what paul ryan is saying. that is what president-elect trump is saying. you know what? that is where you need comprehensive insurance. you don't need it for a 35-year-old completely healthy, and paying $350 a month and government giving 250. that is ridiculous waste of money. get rid of regulations, get rid of the mandate. the mandate is the key to it all. the mandate says you have to be covered for this, this, and this, all of you, have to be covered. you take that away, and you have really cngedhe system. 20 seconds? >> and then the government can
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be charitable and create places for people to go with preexisting conditions. we're not necessarily talking about people that are harming themselves. we're talking about people, like alcohol abuse, those people need care too for sure. we're talking about people with diabetes, chronic lung disease, chronic heart disease, cancer, they will not fall by the wayside. trump has said no one who currently has insurance will lose their insurance. the big hoax by thway, most obamacare is medicaid expansion. that is 12 million people out of 20 million. they're going to keep that. we'll keep medicaid expansion. stuart: doc siegel, thanks for applying expertise. appreciate it right there. very important. everyone listen to what senator schummer said just a few moments ago. >> republican plan to cut health care wouldn't make america great again, it would make america sick again. and lead to chaos instead of affordable care. stuart: that was a full-court
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press against the repeal of obamacare, from the leading democrats, the word chaos was used very frequently. "the weekly standard"'s fred barnes joins us now. that was a very strong political obamacare. fred, do you think it will work? >> well, it depend on what republicans do here. they have to go ahead with their plan to repeal it and replace it as quickly as possible. don't want a long transition period here. respond, respond to democrat who are taking a gamble here, stuart. remember, it was obamacare was the main issue that caused them to lose the house in 2010, the senate in 2014. and the white house in 2016. they're gambling on this. they have, the american public needs to be reminded how chaotic obamacare already is. stuart: i have hardly ever seen president obama go to capitol hill. i have rarely heard about any
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democrat leaders having dinner at the white house with president obama. so why did the president go to capitol hill today? >> he is desperate. look, he is going to be out of office in a little over a week. he is desperate. he want to hold on to obamacare. what the president obama would like and democrats, republicans to bail out the obamacare system. offer money, especially to insurance companies that are leaving obamacare and are not providing any coverage at all because they were losing money. and that was, what they would like in the short run. stuart: fred, you probably can't see it on left-hand side of the screen. we're showing health insurer stocks, all of them are down because i think the market understands what you're saying. the democrats want the republicans to pump money into the health insurers. they're not going to do it. down go insurers. >> yeah. stuart: fred, it has been a tumultuous day. it is not over.
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thanks very much for being with us, fred. appreciate the expertise. >> enjoyed it. stuart: back in a moment. big day.
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stuart: viewers of our program know we have been covering obamacare and its likely demise for all of the last three hours. there has been a huge showdown on capitol hill.
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however, we have had a very important guest, and we want to get to that guest. before that, let me show you this number. it is appalling. 762 is the number. that is number of murders in chicago last year alone, deadliest year in two decades. listen to what the former chicago police department superintendent had to say. roll tape. >> a movement with the goal of saving black lives at this point is getting black lives taken, because 80% of our murder victims here in chicago are male blacks. stuart: here with me now is that man, garry mccarthy, former chicago police department superintendent. welcome to the program. you are critical there of "black lives matter." obviously you know that the leader of "black lives matter" was taken to the white house, and was recognized by the president as being an outstanding community organizer.
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do you think that perhaps president obama shares some blame for what has happened with "black lives matter" and the city of chicago? >> you know stuart, i hate to ruin a good story with facts but i never said that "black lives matter" causes, is causing people to die. what i'm talking about, when i point to the movement, i'm talking about the groundswell that has involved a number of different components, not only from the community, community organizers, community leaders, "black lives matter" is definitely a component of that but i talk about elected officials, the actions that they're taking, trying to legislate good policing. i talk about the department of justice which does go right to the white house as being a major component in hamstringing police while at the same time emboldening criminals which is lead to lawlessness in the streets of certainly many of our major cities across the country. assaults on police officers are
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up by 100 percent to 160% depending which numbers you look at. we're reaching a state of lawlessness in this country because what is happening, in every one of these terrible incidentss that we've seen between police officers and young african-american men on tape, there is one commonality, which has to do with non-compliance, and that non-compliance is common thread but it is being legitimatized through the actions being taken. stuart: got it. >> we don't hearsaying people comply with the police, we don't get into the situation. we hear people say, why did the police do that. stuart: do you think donald trump will make any difference to this? >> i'm hopeful that the department of justice is going to reverse field. the politicizing the doj in my book has been one of the major component which is causing violence in this country because they're investigating 22 departments across the country and they're using standards that are counter to what the supreme court has said. so it is leaving policing in a
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position where we don't even know what to do. terry versus ohio says we can stop people based on these parameters. department of justice says we can't stop as many african-americans as we are stopping. have to use population demographics. the supreme court would say it was unconstitutional if we were using population demographics to conduct stops. stuart: look, very sorry we have such a short time. i'm glad you straightened out the story. we welcome your point of view. >> i spend a lot time doing, that stuart, unfortunately. thank you. >> my pleasure. stuart: did we have a jam-packed show or what? we're not done. stay there. we'll be back.
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>> i want to review the mike pence treat -- tweet. the first order of business will be to repeat -- repeal and replace obama care.
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very interesting as my colleague just pointed out. the president-elect ends not taken office yet. what a show. we are following up on that. the democrats try to turn the table right now on the republicans by saying at the rate were going it's republicans who will make america sick again. >> it will make america sick again. >> i have to stop here it is a fact thing.

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