tv The Intelligence Report With Trish Regan FOX Business January 18, 2018 2:00pm-3:00pm EST
neil: no matter what happens in the house they will vote on some sort of measure to keep the government going for a few weeks. they are expected they will approve it the trouble seems to be in the united states senate where rand paul added his voice to the likes of lindsey graham saying no way. trish regan right now. trish: neil, that is the big question. will we see a government shut down? gop leaders are confident short term spending will actually pass the house tonight. i don't know. i don't know. we'll talk about all of it. all of it coming as president arise in pittsburgh any moment from now. he will tour a manufacturing company seeing a ton of growth they say thanks to the president's pro-growth agenda. welcome, everyone, i'm trish regan. well tom to "the intelligence report." the president is about to rye hive in pittsburgh to tout the republican tax bill when he speaks to manufacturers live.
you will see him momentarily when that happens. expectations that companies will spend more money on manufacturing equipment and create more jobs and people to run the equipment. all thanks to tax reform. apple announcing it is announcing big bonuses thanks to the bill. this comes on the these of $350 billion spending on the economy and 25,000 jobs created here in the u.s. lawmakers have until midnight tomorrow to keep our bost funded. president trump warning democrats this will be their fault, not republicans. neil: their fault if there is a shutdown. this is horrible for the military. you do have the "wall street journal" editorial board who might say it will be the republicans who will get blamed. so who is right? we debate. jeff flock he is in pennsylvania where we expect to see the president any moment from now.
hey there, jeff. reporter: h&k equipment is where we are and where the president is coming. this is a perfect barometer for the country. they sell and service front-end loaders and bulldozers that drive the economy. everyone in this part of the country agree that president's economic agenda they totally support. whether that translates to political support though, i don't know. he is here to support rick saccone who is running for the 18th congressional district special election. it will be a close race. he is running against a democrat a former federal prosecutor, a former marine, who has a lot of support. look what the president said before he left on his trip. he is tweeted going to pennsylvania to give my total support to rick saccone running in the congressional special election. he is a great guy. we need more republicans to continue our already successful
agenda. despite that, you know the president very popular in the counties around here but he only won the state by less than a percentage point in the presidential race. whether this translates or not, i don't know. i will point out to you, trish, these elections recently have gone against republicans everywhere from virginia to alabama to most recently in wisconsin where a long-time, strong republican legislative district was won by a democrat by 10 points. question is, does the president's popularity on economics translate to, translate to popularity at the polls for the condition dates he supports? a lot of people may say, we love the president's agenda on the economics but, we have some concerns about his personal attitude perhaps, what we've you want to call it. maybe they're willing to put democrats in place to give a check to the president. we'll see how that all turns out but he will be here shortly. we'll see. trish: thank you so much. we'll keep checking in. jeff flock, joining me right now
rnc spokesperson, author of the brand new book, "the new american revolution," kaley mcnamey. good to see you. >> thank thank you, trish. trish: congratulation on the book. it is a new revolution. in terms of the government shut down, and if so, some americans will be kind of angry and will republicans get some of the blame? >> sure americans would be angry and should be angry, with democrats. we've been trying to pass a budget going back to the fall. you remember chuck and nancy not showing up to the meeting with the president. we've an trying to do this. democrats are in an interesting position. they have a choice. right now they're holding this up because of daca. meanwhile tied into this stopgap measure is renewal of chip that provide children in poverty with health care. they have a choice between u.s. citizens, children and poverty and giving them the care they need or holding this up because of daca.
neil: trish: i hear you, american voters sent republicans to the senate, house and white house. any party in control don't they run the risk getting blamed even if it is the democrats' fault? >> there is always risk. if i had to guess how the liberal media will frame it they will pin it on republicans. >> do you think that will happen? do you think we're looking at a shutdown? >> i don't think we are. i'm optimistic democrats don't want to be in the position. we know we need nine democrats to make this happen. not like tax cuts we had luxury passing with 51 votes. we need nine democrats. can't do this without them. right now we have two democrats. trish: you have a ways to go. kayleigh, it is the wall. that is what they're so fixated
on and that is what is holding it all up. to the president's credit and republican's credit they do want to see some kind of a solution here. they do want to see some kind of solution for daca and that's encouraging. i don't think you're asking for the moon, i really don't, okay, but we want more money put toward border security. we want to change immigration so we don't have to have chain migration and we don't have a lottery system which frankly has not made any sense. has this become too political. >> it has become too political and, trish, you mentioned aspects of the deal we need to make it work. negotiations are give-and-take. look at donald trump. he has given on daca, said let's find a permanent solution. so where is the democratic give? where are they saying yes, a border wall makes sense because there are american citizens who have been harmed by drugs crossing our border, in some cases loss of life.
we know at least 100 citizens lost their life due to illegal immigration. where is the give on democrats' part? we have given a lot. time for democrats to stop taking. >> congratulations on the book. give us a preview. >> i traveled the country to look at forgotten men and women of country. it is important to find the people and tell their stories and i found some pretty incredible americans. trish: i like you say the forgotten man and woman. that is title, one of my most favorite books, amity shlaes, who wrote the book, the forgotten man. interesting look at 1930s and all the policies put in place intended to help but did anything but. but you look back on the last eight years. a lot of things that the obama administration did intended to help but actually just hurt the middle class. kayleigh, i look forward to
reading it congrats. >> thank you so, trish. trish: as we've been discussing everyone, congress has until midnight tomorrow to keep the government funded. for the latest blake burman. hey, blake. reporter: raj shaw, the press number two at the white house was on air force one, spoke with reporters, they feel the white house feels there will not be a government shutdown. however i can tell you speaking with a senior white house official saying that the odds of a shutdown at 50/50 coin flip. they see the house of inning the right direction and the senate moving in the wrong direction. as you've been talking about, the white house, the president is trying to frame if it was a shutdown it would be democrats fault. earlier today president trump had this theory. >> our tax cuts and our tax reform turned out to be far greater than anybody ever anticipated and i'm sure the
democrats would like to blunt that by shutting down government. reporter: the spending bill does not include a talk can fix. that is of huge importance to democrats. it does though provide for a six-year further funding of chip, the children's health insurance program, something that was seem to be something that democrats would have wanted, however nancy pelosi gave this colorful analogy earlier today, downplaying it, listen here. >> this is like giving you a bowl of doggie do and put a cherry on top and call it a chocolate sun sundae. this is nothing. reporter: there are 11 pubs -- republicans in the senate. john mccain not present because of his health. lindsey graham and mike rounds
are no votes. they take graham and rounds at their word. that is 48 republicans. they would need at least 12 democrats in the senate to come to their side. when you look at breakdown that way, why they view the senate as a big hurdle here even though the house has to take this up first five, six hours time. we're led to believe, trish. trish: thank you very much, blake. i want to add fox obtained an email that leader mcconnell sent to his colleagues, i will read, colleagues we should plan to stay through this weekend if senate democrats follow through and willing to shut down the government and chip program because they have yet to conclude a deal on daca. laying blame with the dems. this is irresponsible position to take as everything from pay for our military to processing social security checks will be affected. i hope not a single republican is incline to join them. looking like that might actually be quite a reality by midnight.
again, the leader, urging everybody to plan to be there throughout the weekend. i want to you take a look at this right here. this is a quote from today's "wall street journal" editorial board and they say, quote, it is important to understand the rule of shutdown politics. democrats want a shutdown but republicans will get blamed for it. are they right, will republicans get blamed even though the democrats are refusing to work with the president. maybe that is why they are refusing to the work with the democrat? maybe shutdown politically is good for democrats because they think american voters will blame republicans. kayleigh said no, no, they will see that republicans are trying to prevent this. ford o'connell is here with his thoughts and former deputy press secretary for the dnc jose. jose, i will start with you, are
there democrats saying why not, why not shut the government down right now? we look like we were doing the right thing by the immigrant population in america because we said not one dollar going for the wall, hey, let republicans take the blame for the shutdown? is that perhaps in the back of their minds exactly what they want? >> look, maybe some of them yes but reality is, trish, that a majority of congress -- trish: some of them yes some are saying why not shut down the government. i don't care if the military gets paid. i don't care if people don't get social security checks. >> reality here is the majority of congress, the white house, house, controlled by republicans. this is on republicans. refuse to negotiate with the
democrats. we can't do it because we have a president who doesn't understand the issues, who continues to tweet undermines the negotiations. a majority of americans want daca to be included in this, not included and fund the government, not fund government for a month. in the month we'll be in the same place? trish: that said, ford, i mean, if you're going to come up with a solution to daca, you simultaneously have, this is the line in the sand, right? you have to be willing on border security. >> wait, hold on, jose. here is the deal. here is the first lie you said on national television that is the republicans do not control both chambers of congress. >> republicans do. >> no they do not jose, stop. they control the house of representatives and they have a majority in the united states senate and you need 60 votes to pass a budgets. so yes, trish, democrats do want to shut down because everything is a calculation. >> that is not true. >> hold on, they want to stoke the political embers of dysfunction because they think it's a great weapon for them in
the 2018 midterms. >> that is lie. >> no, jose. trish: you said some members way man this. we have it on tape. we can roll it, i want the truth. i think unfortunately, what you orgnal admit the -- >> it's a lie. trish: this is what i despites about washington, there is so much politics at play. this is why we like the markets right? you can get away from that you can just focus on policy and what matters and what actually is going to change. >> a majority of americans want daca. a majority of americans want daca. >> jose? >> president trump took it away. we wouldn't be in this problem if he decided to not extend it. >> jose, no it is not on us. >> of course it is on you. >> here is the great daca scam much 2018. >> let's hear it.
>> democrats don't want a daca fix without strings attached they want future legal groups to claim the exact same -- >> that is lie. that is a lie. >> if we don't get of give it to them without strings attached they're going to use it as battering ram against us in the 2018. trish: i would point out to the viewer they're looking live picture of the president of the united states coming off air force one. he just landed in pittsburgh. he is going to the factory that benefited from his tax reform plan. we'll be watching him there at the factory and watching him live. back to you ford, president touting his tax reform plan. we have a lot of good news. 26,000 on the dow. company after company after company coming out saying they're handing out bonuses. apple investing $350 billion in the united states of america, creating 20,000 jobs and handing out bonuses all of this is
really good news. walmart, list goes on and on. i wonder if this good economic good news environment do the democrats have to push this, have to push by the way the race card, that is what they keep using over and over again because how else are you going to fight back in light of the very good economy -- >> race card, give me a break. >> look, trish, a lot of politics is about messaging. they obviously want to change the subject because we have the best economy in decade. consumer confidence is through the roof. >> not true. >> people are going back to work, essentially the democrats want to change the subject. one thing i will say about president trump is, you can like him or you can hate him, you can't argue with the success and results because they're very really unfortunately the democrats don't like that. trish: jose what do you say to that? >> the president has the lowest approval rating in the last decade 30% or so. so don't tell me that the american people are happy. they're not happy. we have president we don't know
what happened with russia. we're still looking into that. the president passed one major legislation in 2017. that is not successful presidency, sorry to tell you. majority of americans agree with me. majority of americans agree with me. trish: americans are receiving pay raise first time in a decade. that is some pretty good news for them, jose. >> majority of americans don't like him as president. we'll take back the house. trish: how will you do that? painting him as racist. >> that is exactly right. standing by principle. we'll do it 800,000 people who american everything but a piece of paper. that is how they do it. we'll show you in 2018. trish: i don't know it is 800,000. ford, left you get another word in here, americans feel like they have been betrayed. they have been betrayed by your party, jose, wages went nowhere for about a decade. actually three decades. >> we won governorships in virginia and new jersey. i don't know what you're talking.
we're winning elections left and right. trish: you lost across the board. >> economy is improving. you can't take it. basically say the president is russian colluder, you will say he is racist. throw everything at the wall until something fits and sticks. that is the democrats gameplan in 2018, trish. trish: that is disappointing. >> tell it to you viewers. we'll judge this in november. the american people will judge you guys in november. trish: jose, ford, thank you very much. >> thank you. trish: guess what? americans vote their pocketbooks, over and over and over again. even if they don't like him, if they're doing well, if our country is doing well, if the economy ising doing well, if the markets are doing well, well that will be tough for the dems. markets today off their highs. you can see off 46 points after closing in record territory. what a day is was yesterday, right? over 26,000, pretty phenomenal stuff. "wall street journal" today warning about what they're calling a melt-up. in other words we'll keep moving higher, higher, higher and at
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trish: the dow is off a bit here after what a day we had yesterday. look at that, guys, we're still above 26,000. s&p trading higher. nasdaq barely trading higher. i love saying 7309 can you believe on the nasdaq? actually on pace for the second straight record close as dow turns negative after all-time high yesterday. just amazing, amazing market right now. joining me with his insights on all of this, the editor and publisher of the gartman letter, dennis gartman. it has been a while. >> it has been a while. trish: 26 of thousand, who would have thought? >> who would have thought.
i thought it was overpriced at 23, 24, and 25. we're in the mid of a great bull market that will continue, i tell people how far can it go after being in the market 40 years, it will go up until it stops. there is wisdom in that. trish: there is, but, but, that said i hear you. you kind of got nervous around the 22, 23, 24 level. >> sure. trish: the difference now, dennis, we have economic reform that has been accomplished, that will be implemented into our economy. we're starting to see real results. $350 billion of from apple coming back to work? 25,000 jobs, bonuses for employees. that is meaningful. >> tax cuts are in effect. cuts in regulation is in effect. consumer sentiments is extremely strong. first time in very long period of time, you have a synchronous movement in the global economy.
you have strength in europe. you have strength in asia. you have strength in africa. you have strength in australia. you have strength here in north america. it is quite impressive for the first time in my memory we have synchronicity around the world. that is carrying all markets higher. i keep an index of my own of 10 various stock markets around the world. every day we keep making new highs, new highs. it is not just here in the united states. it is around the world. it is pretty impressive. trish: that is exciting stuff. is there anything unique to the united states? are you telling me this is global phenomenon, everything is going up or about the economic policy which is different? don't forget all the times you were worried about new highs you were worried, rightly so, because it was the fed helping to create the new highs. your middle class in america was still really stuck behind. now we might start to see wage growth. we have some inflation which we could use.
that is a good economic picture and a reason to get excited in the markets. >> you're seeing things going on. tax cuts are clearly a benefit. there is no question. you're seeing people in france, seeing the government in france doing the right things, getting rid of regulations. you may actually see a somewhat more conservative government in germany. we have a right-wing government in place in australia. even canada is looking at its liberal government wondering why they are behind the pack. we have a lot of things going on around the world but here in the united states the fact we're cutting regulations and cutting taxes and doing right things we haven't been doing previous eight years putting that into effect. instead of having a deleterious impact on the economy it will have a supportive impact. earnings are expanding rather than contracting. you have to say that this is impressive. trish: all that said, i agree with you, it goes up until it doesn't, somebody wakes up and says we're overvalued, earnings
continually look better, if you have a economy humming along as well, people spending more, earnings will get better and better. >> yes. trish: but, but, we have a very challenging geopolitical situation right now in the way of north korea. i had general keen on the program yesterday. one of the things he mentioned that we neat to prepare ourselves for what might be a reality. he is not just talking about the military option. he said if we're in a situation where they are close to getting a nuclear weapon, we need to pull out all the stocks economically. looking at our trade with china. why are we trading with china if they're supporting north korea? why are we trading with russia if they are supporting north korea? thin the list goes on and on could mean you find yourself well, in just a good old-fashioned trade war, dennis. might be the better outcome than some kind of other kind of war but that said, what does that do to markets? >> let us hope that we don't have a trade war and if i do
have one concern here in the united states we may tend to turn towards trade protection in manner i would find detrimental. do i worry at all quite honestly do i worry about china and chinese continuing to support the north koreans? actually the chinese have no choice but to continue to support the north koreans. they want to make sure they have a buffer state between south korea and the chinese border. that is not going to go away and i didn't lose sleep for a long period of time over that problem and lose even less sleep you in that we have unified olympic team which i think is very great step forward. do i worry about the fact that the north koreans have nuclear weapons? yes. do i lose a great deal of sleep over it? , no i really don't. trish: so 26,000, what is the next stop? >> probably 27,000. trish: it could happen next week, right? this one happened in a week. we'll see. no when i first got in the business in early 1970s dow
was 400, no move three, four, five points was exceptionallal. to move all that yesterday it was impressive. we'll probably melt-up. trish: let it continue. dennis, thank you for being here. >> good to be here. trish: congress debating whether to bring back earmarks the pork-barrel spending got banned in 2011. some say it is only way congress gets anything done since they're so dysfunctional. come on, are we being reduced to swamp politics all over again? dan mitchell is on it next.
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thinking back to going to a form of earmarks? trish: president trump shocking many members of his own party proposing to bring back earmarks. those are the pork-barrel spending things you hear about, we all get very mad about. they're used basically for congress to get things done. okay, you give me this, you will get a little money for the pet project that you wanted in iowa. a week later the idea is actually getting traction on capitol hill from lawmakers on both sides of the aisle. focus of a hearing just wrapping up in the senate. adam shapiro is live on capitol hill with more on this adam? reporter: right, trish. we're all familiar with some of the earmark abuse of the past because there are no earmarks right now. but for instance, there was a bridge to nowhere, with the island only 50 people in alaska. much $200 million. there was $15,000 to research the effects of alcohol on the motor systems of mice. they did that at florida atlantic university.
yes there has been earmark abuse that has made people furious but it was a way to get things done because politicians could drop things into the budget and win a vote. that is how the leadership used to do it. so this hearing taking place in the house rules committee and they have been discussing whether it would be a good idea to bring earmarks back because it would be a way to get things done but they're looking at ways to limit earmark abuse should that happen. for instance, taxpayers for common sense suggested they do this. one, have term limits for earmarks. don't make them indefinite. forbid awarding of earmarks to private or for-profit entity. create a list who is getting earmarks for transparency. in the old days you had to dive into the federal budget to find the earmarks. they want a list of what are the earmarks to be transparent. maybe sure earmarks are not associated with campaign contributors. the key was transparency.
that was something from citizens for common sense. but is seemed that the chair of house rules committee agreed with. here is what he said. >> whatever we do should be transparent, it should be transparent not only to other members of congress but apparent to every single american that chooses to invest time to look at an make sure that what we're doing, that they have confidence in. reporter: trish it is important to remind everybody that abuse of earmarks in years past wasn't any one party. it was democrats and republicans equally abusing. there was one figure thrown out, $15 billion at the height of earmarks being awarded in order to lack of a better term, buy a legislator to vote a certain way that leadership wanted. we may be going back to those days. not immediately. they're talking about it. trish? trish: you know what i think of that, adam. not much. i will tell you that it's a pretty sad state we're in, we
need to hand out money to pet projects just to get anybody to vote on anything. that tells you we really must have some kind of breakdown here. joining me right now from the independent women's forum, former congresswoman nan hayworth, you actually voted to stop these earmarks. >> i did. yes. trish: and good for you. >> thank you, trish. trish: yet we're right back potentially where we started. what is it about being a politician makes them so prone to want to have these little pet projects? i assume the money getting handed out for campaigns? >> it is a way of buying, if you will, favors among your electorate, trish. anomaly, he have district likes to have money spent on it, even conservative red districts supporting fiscally conservative policy. you would be amazed people feel like they that the representative is bringing home the bacon. we voted at the beginning of
112th congress then speaker-elect boehner to say no to earmarks. some people warned us, you're losing a tool that can pass legislation and then the administration gets to confer all the goodies. so that was participate of it too. there shouldn't be such goodies to begin with. trish: you know what? guess where the goodies come from? you and me, all the people out there, that is our money. >> absolutely. trish: talking about a 200 million-dollar bridge to nowhere, that is our taxpayer money. >> i'm fully in agreement with you. the best thing we can do is insist as voters that the people who represent us, represent not only our best interests, but the best interests of the nation and best interests of our future which means the federal government can't be throwing money around. trish: you're right, they represent unfortunately the best interests of themselves. >> sure. trish: we've been looking at data when it came to private equity carried interest loophole. this is on both sides. >> right. trish: people in the house and
the senate are getting handout after handout. >> donor class, trish. a small pot of money relative to the "salt" deduction. that is why making pay-fors, thank you senate democrats who wouldn't help at all voting on tax reform. so we had, tax cuts. so we had a use time limits because of reconciliation process. so, one of the, and pay-fors to fit certain budget constraints. so they didn't, they were able to disregard carried interest pretty much. trish: because it wasn't as big of a deal. >> it wasn't as big of a deal but it should be gone. the president is right. trish: the president made this a big deal on the campaign trail. >> yes. trish: i commend him for that. >> i do too. trish: you know, the swamp just won't part with these gifts shall we say that they're getting from the private equity investors. >> they find ways to slide around it. the argument the private equity lobbyists use, same arguments,
we create jobs. that is what their lobbyists say. trish: i don't care. it has nothing to do with anything, by the way. >> you're right. that is exactly it. why is your money better than ours? everybody's, every sensible citizen as money creates jobs than the government will ever do. trish: the reality, income is income. income need to be taxed as income. there is a way for the president to get to this. >> yes. trish: i think he could have the treasury secretary look at the law. get up to $180 billion there. >> absolutely. trish: talking about where you get money for border security, maybe there. >> i agree. trish: nan, great to see you. >> and you, trish as always. trish: i'm glad you voted to get rid of those. >> yes, ma'am. very proud of that. trish: shares of apple, everyone, you can see here, a live picture for you up half a percent, $179.93. pretty good. the company had a bombshell
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tripadvisor. the latest reviews. the lowest prices. trish: let's listen in to the president right now talking about the wall in pennsylvania. >> as you know, in fact in an interview with you i said the wall, you don't need a wall where you have a mountain. everybody knows that. i've been saying that for three years, and everybody knows it. but a wall is not necessarily a wall where you have a mountain. so everybody understands it. in fact we sent out some information where i said it three years ago, two years ago. >> [inaudible] >> he is great. i think he is doing a great job. i think general kelly has done a
really great job. he is very special guy. >> [inaudible] >> what? >> [inaudible] >> he didn't say that. well, i don't think, he didn't say it the way you like to say it. he didn't say that he is doing a terrific job. we have a big immigration problem. you see what is happening. you see what is going on. we have a big problem. we'll see if we get it straightened out. i will say this, the democrats because of the tremendous tremendous success we're having with tax cuts and tax reform. these gentlemen own this facility. you see what is happening. just the last six, seven months we haven't had anything like it. they almost can't take anymore work. when you look at that see what is happening, this is real america, the democrats want to see a shutdown to get off the subject. this subject is not working for them. the tax cuts and tax reform has not been working well for the democrats. now yesterday you saw with
apple, 350 billion-dollar investment. now they're also giving thousands of dollars to their employees. that is happening all over the country and i'm really happy. people are really doing well. they're doing better than they have in years. to be honest, tax cuts not only if they worked, they're working much bigger and much faster than we ever thought possible. we'll talk to you later. shouting questions] rick saccone said he was trump before trump. he is a great guy. i think he will do well. he is a great guy. he loves this area. loves this country. he met me at the plane. he is here someplace. this is about tax cuts today. this is about our economic reform. but rick is a great guy and special. he is a special person. >> you won this district by 20 points. >> right. >> can he do as well as you? >> i hope so. i hope you will do as well. we're going to be helping him. i will be back for rick and we'll fill up a stadium.
we'll do something really special for rick. i look forward to it. >> a lot of steelworkers -- >> [inaudible] >> we'll see what happens f there is shutdown, i really believe democrats want a shutdown to get off subject of the tax cuts because they worked so well. nobody thought including the democrats it could work this well. they have been so good i think democrats would like to see us shut down in order to get off that subject. that is not a good subject for them, the tax cuts, the way they work. >> president a lot of steelworkers are looking for help from your administration. >> we'll be helping them. >> timeline -- >> we help ad lot of groups but i love, i love this business, right? >> absolutely. >> i love this business. you're probably a little bit surprised. when i see that going into that, that is 1980 version, that is amazing thing. that is brand new and has a brand new life. that will be as good as if it were brand new? >> [inaudible].
>> that is 1980 and it looks like it just came out after factory brand new. thank you all very much. rick saccone, good man. great guy. trish: the president there talking to reporters at that manufacturing company in pennsylvania touting of course tax reform which he insists really reason we're seeing so many companies now giving out bonuses, increasing wages an investing in america, which they are. you saw the apple news. you saw walmart. we've got thousands of companies now giving out wage increases. this is what people were waiting for. we'll be back with more from the president after this. in high sc. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches
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hospital that accepts medicare patients. whether you're on medicare now or turning 65 soon, it's a good time to get your ducks in a row. duck: quack! call to request your free decision guide now. because the time to think about tomorrow is today. trish: everyone, we're awaiting on the president who will be speaking momentarily there at that factory in pennsylvania but this just crossing right now, coming in, bank of new york mellon announcing it will raise wages for 1000 of its employees. this as apple says it will create 20,000 new jobs and bring back billions of dollars overseas. they're all saying you know why? tax reform. this i will tell you is a big win for our economy. it's a big win for america. millions of americans are already seeing the benefit of this tax plan. looking at companies giving out bonuses.
we haven't seen wages go anywhere for three decades. this is my concern as we watch the fed do what it has done in the last eight years. wages were going nowhere. now fine ally they may be moving up. that is good fundamental indicator. joining me investment strategist keith fitz-gerald. keith, good to see you. >> great to be here. isn't this exciting stuff? this is great stuff. trish: i guess you are. it is great stuff. how nice we can talk about good news for a change, right? does it continue? >> here is the thing, you get, you get government out of the way, lo and behold money does what it is supposed to do. that will go to the ben it if tens of thousands of americans next five years. trish: you talk about five years, you think the momentum continues? economy continues to i will prove? the wages continue to improve? the stock market continues to go up? >> there is always ifs or buts but who knows in the equation but generally speaking the
equation is very simple. higher sales, higher earnings, higher earnings translate into higher stocks prices. that is good for america, good for the people that work there, good for investors. this is all the way around big wallet, small government. it is good stuff. >> let me ask you this. you're not there in new york city, well, new york city, let as you just say you don't want to wear the make america great hat around town because you might be at risk for something, keith, but you go out into the rest of the country, people are excited about the economic news. i find it funny in new york city though, this is wall street, right? a really hated rally. all the investors sitting there, i got to be in, right? this market is on fire. yet, it is donald trump that has created these policies that is making it on fire. it puts them in a bad spot. >> it does. this speaks to something i talk about all the time. money is apolitical.
people follow prey to their emotions instead of dealing with cold, hard, logical facts you get government out of the way, regardless of politics you have more on the bottom line. it is a law of money immutable. been this way -- trish: president, we'll jump in because the president is speaking. we want to listen in. he is speaking at the factory in pennsylvania. to quite a crowd. he is talking the economy. he is talking taxes. he is having a little bit of a victory lap. all right, by the way. companies are excited. people are excited. let's listen in. >> what a great place and workers and people that really do make america great. they are incredible people and thank you for being here. [cheers and applause] i'm very familiar with the setting as you found out. this is something special. i am thrilled to be back in pennsylvania with the hard-working men and women of h&k equipment.
good job you do. good job. [cheers and applause] good job you do. we're honored to be joined by the secretary of the treasury steve mnuchin, director -- look at that, steve. [applause] they must know you. there is about 5% of this group. [laughter]. the director of national economic council, gary cohn, your tax guy. he is our taxman. where is gary? [applause] gary, did a good job on those taxes. everybody being helped by those taxes, huh? [cheers and applause] good tax cuts. as well as a number of outstanding members of congress. representative lou barletta. [cheers and applause] >> lou! >> come on, lou. [applause]
he has been a friend of mine a long time. here is another one, mike kelly. mike. [applause] i won't have you go through and over those gates. pat meehan. pat, thank you, pat. great job you do, pat. [applause] these are like real friend of mine for a long time. representative keith rofus. does everybody know him? thank you, keith. [applause] thank you for being here, keith. a man that everybody in washington knows and so respects bill shoeser. bill. -- representative g.t. thompson. [applause] and, you know this g.t., a person that people are hearing more and more about, a real friend, and a spectacular man,
rick seccone. [cheers and applause] and mrs. seccone. thank you for being here, thank you, special people. my daughter ivanka is also here with us today. [cheers and applause] and she worked so hard on the child tax credit. ivanka come up, come up here, will you? come up. come on up. and a very special thank you to george cook for hosting us. [cheers] done a great, done a great job. really a great job. thank you, thank you. what an incredible company. ivanka are you going to say a couple of words about the child tax credit? boy, did you work hard? come on. >> hi, everyone, it is always amazing to be here in
pennsylvania and to be here with all of you. we worked so hard on tax cuts and tax reform, and the president, my father, was very specific about what he wanted to accomplish. it was so core to him to support hard-working, middle income families, and the child tax credit is key to doing that. a big win for everyone in this room and everyone across this country, and we are very, very excited about that. doubling the standard deduction. the child tax credit. all of these elements that make this a very family-friendly plan. but also enable great american businesses like this one to thrive and be competitive in a global landscape. so we're very proud of it, and america is just starting to realize just how great our tax cut plan is. so more of that to come. but thank you for having me here. thank you. [cheers and applause] >> thank you, baby. thank you very much, ivanka. she worke