tv Lou Dobbs Tonight FOX Business December 31, 2019 7:00pm-8:01pm EST
i don't recall meeting anybody with such a compelling life view - and life story. - oh, thank you. means a lot. - and i so appreciate this. i'm so honored. - oh, it's my pleasure. - so honored by this. - thank you, buddy. - thank you so much. - thank you so much. lou: good evening. president trump energetically rallying enthusiastic supporters in battle creek, michigan and around the country for that matter last night. the democratic party did wait has done for the past three years. the radical dimms and the leftist media concocted more bizarre and sinister narratives. speaker pelosi declared she would hold up articles of impeachment the dimms had passed within senator mitch mcconnell deared nancy pelosi would be afraid to send the shoddy
articles to the senate. how did vestors react to this dire political theater? by moving to new heights in the house of representatives in the midst of it all, also passed president trump's usmca, the new trade agreement with canada and mexico. $1.3 trillion worth. in the midst of the political turmoil, the radical dimms' turmoil for three years, president trump delivered one of his campaign promise. to balance and make reciprocal u.s. trade. and with nancy pelosi refusing to deliver the articles of impeachment to the senate, there won't be any action until early january.
the republicans are now winning because of pelosi's outright default. our next guest has been a key actor? negotiations and his other duties as secretary of the department of treasury. joining us is treasury secretary steven mnuchin. great to have you with us. congratulations on the extending package. secondly,usmca thirdly, and the china-u.s. phase one deal. it's been a busy week for you. but with your portfolio, i know you are not surprised what can be done in a week. great to have you with us. >> it's great to be with you. as you said it's been a great week for president trump's economic plan. we couldn't be happy were
getting appropriations done. a big investment in our military. the president got the space force and a lot of wins for the president in this bill. >> and the american people. there is a sizable number of people, and even some of them trump supporters who are surprised in modern history to have a president now who actually does what he says he will do, who delivers on campaign promises. he said he was going to create prosperity forward america and paul americans, and by god he's done so. >> he's delivering on all his promises and he's building a great economy for american companies and american workers. lou: we are hearing a number of wags. as a friend of mine used to say every dog has its fleas. with usmca we are hearing from
some quarters that they think this knew deal isn't as good as the old deal. your rethanks when you read d your reaction when you read that kind of assessment? >> i think they don't know what they are talking about. this is so much better than the old deal. it will add 50 basis points to the gdp. ambassador ligh -- ambassador lt lighthizzer did a fantastic job. lou: as you and ambassador light lighthizzer have been working on. is this the deal that the president is going to be satisfied with or is it going to
take a lot more? >> first of all, the usmca, this has been a major priority for the president making sure we bring jobs back to the u.s. i think this will accomplish it in making sure we have great trading relationships with mexico and canada. president trump is the first president who addressed this issue. this has been an issue with republicans and democrats, and the president wants to have a level playing field. i think phase one is an enormous step in the right direction. we have intellectual property protection. we have financial services that will be opened up. we have a currency factor. we have structural changes. this will be great for our farmers. they are buying lot of goods. lou: the enforcement mechanism within this deal, ambassador hu.
>> the enforcement chapter is closed out. so this will be throughout the entire agreement. and it is binding. it has a binding mechanism. this is the first time we have had an agreement with china with a binding enforcement mechanism. lou: it strikes me that this president has done something that first of all is historic of course. but it's historic and unprecedented. this is a president ahead of the international monetary fund, ahead of the world bank. any other organization in the country and the world saying we are going to have balanced trade. we are going to have reciprocal
trade. and he has gun now to balance international trading relationships with china. usmca, and let's not forget the trading agreement with japan and south korea. this has been a spectacular demonstration of a man leading all the major financial institutions as well as the regulatory and intermediaries around the globe. >> you are 100% correct. the president has been very clear. he wants free trade, but it has to be free and fair and reciprocal. our markets have been open to china and theirs have not been open to us. this phase one agreement is about rebalancing it. lou: i once had a discussion with larry kudlow. i never heard the president talk about free trade. i heard him talk about fair and
reciprocal trade. free trade coul connotes 50 yeaf consecutive trade deficits. i haven't heard the expression free trade for months now. until the deal is done. now it's being called a free trade deal. i think it's more a fair and reciprocal trade deal. >> i don't think it's a free trade deal. i think it's a reciprocal trade deal. the president has been clear on reciprocal trade and balanced trade. from the first meeting with president xi and president trump, he said we need to have balanced trade. that was acknowledged by president xi.
we'll be releasing the agreement soon. people will see this is a real agreement with real chapters and real enforcement. lou: just a couple things before we wrap up here. i have to congratulate you, the president, the administration, ambassador lighthizer. it's astounding what has been achieved here. i don't think much of the media is giving you the credit that you deserve because of it is historic. it's extraordinary. i want to turn first to the world's cash. $100 disappearing and unaccounted for. apparently there is a quest to find out what happened to $1.5 trillion in u.s. $100 bills. >> it's interesting. the dollar is the reserve currency of the world and everybody wants to hold dollars. the reason why they want to hold
dollars is because the u.s. is a safe place to have your money to invest and hold your assets in u.s. dollars. in the world where everything is going digital and electronic payments, the demand if for u.s. currency continues to go up. literally a lot of these $100 bills are sitting in bank vaults all over the world. particularly in a world of negative interest rates, you can hold u.s. dollars and you don't have to lose money. so there are a lot of benjamins all over the world. lou: mr. secretary, i'm going to do it again. i will congratulate you on a series of achievements and wish you the best as you try to top what has been an extraordinary year this 2019 and even better, 2020. thanks for being with us. the white house is working to
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lou: e-cigarette maker juul suspending its fruity e-cigarette flavors. so far 33 people are known to have died from vaping related lung disease. the cdc said suicides rose 56% among young adults and children. in 2017 suicide was the second leading cause of deaths between ages 17 and 24. the food and drug administration setting an all-time record. the agency approved a thousand generic drugs marking a third straight year of generic drug
approvals under the trump administration. joining us, the secretary of health and human services. let's started with the generic drug approvals. that's a remarkable record. what is driving that? >> it's president trump's leadership. he told us approve these generic drugs because competition lowers prices. the president is adamant about getting prices down. almost 3,000. in the first 18 months of the president's first term, 26 billion savings in healthcare. that's the gift that will keep on giving. that competition stays forever. these changes are causing drug prices to go down. we have seen the biggest
decrease in drug prices in 51 years. we are the drug trend when the president took office is down 12% since the president took office. lou: the president is adamant. he wants drug prices down, he wants prices for healthcare down. i don't know if we had a president who talked bin row diewtioning efficiency into healthcare and achieving results certainly in the first term in office. >> he's dogged in getting drug pricings down. he warrants us to have better negotiations in our federal programs where we are not getting good deals. he wants to end foreign free riding. he commissioned me to get that done and it's delivering results. lou: foreign free riding, what do you mean by that.
>> the united states overpays for its drugs and the other western economies under pay. >> the intrascreen sauce drugs tore rheumatology or arthritis. we are paying almost twice with other western democracies pay. we are being chumped in overpaying. lou: the president is talking about the united states operating as a patsy for the rest of the world. >> when has the president stood up for american seniors southern say we are going to stop them overpaying. lou: this will be a central part of the campaign in 2020 because it affects every citizen in this country, healthcare. the democrats are moving towards socialism in all aspects. we are talking about socialized
medicine without reservation. your thoughts? >> medicare for all would be medicare for none. it's really interesting. the same people who presented this utopian vision of obamacare, it would california all the world's problems. they admit obamacare failed to deliver. so instead of coming to markets and putting the patient at the center, a utopian one-size fits all vision of a government takeover of healthcare. it will undermine medicare for our season years. president trump said -- for our seniors. president trump will protect their medicare. he will protect what works, he will make it better, and fix what's broken in our system. lou: there is so much that is
broken. to me there is no more tragic example than the opioid crisis. a number of overdoses, extraordinary. where are we in getting that under control and trying to restore broken lives? >> thanks to president trump's leadership, it's the whole of government approach. across every single metric. for the first time in defend kids we have seen drug overdose deaths decline by 5%. we reduced opioid prescribing by 31%. we have a 378% increase in the opioid treatment drug. bringing people out of addiction, getting them treated, and putting them into long-term
recovery. lou: so much that is exciting is happening in healthcare, whether it be i huge therapy -- whether it be immune therapy, the deregulation to provide drugs to people at a faster rate than ever before, and deregulation. the effect of those efforts is already showing up. your thoughts as we conclude here. >> it is showing results. we are one-third of the u.s. government in terms of budget spending. we delivered $12.6 billion of regulatory savings. this year it will be over 10 billion. we have cut bureaucracy that has freed up 40 million hours of doctors' time to be with
patients and getting rid of red tape. lou: we are tasing a doctor d we are facing a doctor shortage, so this is a timely win. great talk with and great work. thank you so much for all you are doing for the country. we'll be right back. thlook at all this ink no more bit comes with.es. big ink tanks. lots of ink. no more cartridges. incredible amount of ink. the epson ecotank. just fill and chill. 1 in 5 people you meet wear yeah. that many! but right now, is not the time to talk about it. so when you're ready, search 'my denture care'. poligrip and polident. fixed. fresh. and just between us.
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jeb bush deaner and the ceo of carnival cruise lines. he was accused of replacing american workers with foreign workers and not much came of that. senate bill 386 of mike leaps is an assault on americans and the mayor can middle class. it's duplicitous and deceitful. it's known as the fairness for high-skilled immigrants act. what it does do is end the discriminatory policy that punishes green card applicants from large countries. read china and india. but that is exactly the problem. it would allow countries like china and india to push through
as many h-1b visa workers as they like. they get to automatically wait in the country until they wait for an employer-sponsored application for green cards. mike lee is as fan of foreign labor, but not so much american labor. he has raked in donations from the foreign worker sponsors. jessica, good to have you with us. 386. where do you stand on that piece of legislation that is apparently to right great wrongs that have been done to foreign tbhoarks this country. >> it's a terrible piece of legislation and it's very bad for american workers. the main reason it's so bad is
because it rewards this business model for employers and the indian body shops to replace american workers foreign workers to come in on visas and promising them green cards even though they are coming in on temporary work visas. it would put these visa workers at the head of the line to receive green cards even faster. lou: what is the rationale. why would you want to give 90% of the green cards to two countries, china -- that wok the effect. china and india. >> no one country can monopolize them. but this legislation says all of the contract workers from india who replaced american workers would go to the front of the line. that means employers who wants to hire tall end from the rest of the world would have to get
behind them in line. it doesn't solve the backlog problem. there area are half a million visa workers who are entitled to get green cards even they they came on a tell prayerive visa. it rewards the employers. that's why the big tech companies are funding this effort. you it cost so many americans their livelihood and it's bad for the country to displace this entire sector of tech workers. lou: how is it mike lee should be so interested in this backlog. it's one of the most specious pieces of reasoning i have seen even by swamp standards. to suggest that equity is based on a backlog rather than a nation's needs. we'll put back president trump's
miring tpresident trump'smerito. >> it's a step away from the merit-based system we all snow would be the best system for our country. they are not particularly high skilled. they are ordinary workers. lou: all these employers and the outsourcers. whether you are talking about ibm, they tell you these are the most skilled of all the immigrants in the world and we have to have them. >> it's nonsense. they are ordinary workers doing jobs that americans once did. lou: for lower wages. >> it's all about paying lower wages and not having to bother with americans. by pass u.s. workers. follow the money.
as for senator lee, you know, i can't speak to his motives, but he does have a lot of these high-tech companies in his district and a lot of workers there. lou: it's a hotbed of corporate labor arbitrage. we took as cursory research run at it and we found nothing. his interest is something quite different than the middle class and the american worker. it's stunning to me. and i will never forget bill gates in a chair by himself before senator ted kennedy talking about h-1b visas, how many do you need, and he said an infinite number. that's what we basically have got. and the senator called me out by
saying it would double the h-1b visas. the figure of that will push it to effectively 300,000, and it's much more than that. what is the estimate of h-1b visa tbhoarks this country. we are supposed to have 65,000 a year. >> it's half a million. each year there are 150,000. it's not a capped category. non-profit organizations can get them in limitless numbers. janet napolitano with the university of california replaced their american workers with h-1b visa workers. lou: the hospital association, a number of the nurses association also oppose this senate bill
386. >> with good reason. it per pet waits and rewards this business model of replacing american workers. >> which we thought this president was well on the way to eliminating. and then nuke lee, his own party, this moved out of the house, as you know. it's sitting in the senate -- it will be one of the mos -- most scurrilous acts. it will not be helpful to him in the 2020 election. >> people are expecting the president to do something about this program. the answer is to get rid of the h-1b program or drastically reform it so it's impossible to replace american workers. senator lee threw some light reforms on it, but it's not
enough to end the dysfunctional system. we need to move to a merit-based system. thanks so much. up next, billions of dollars helping china's rise across the globe. some in washington wanted to put an end to that. we'll talk with congressman anthony gonzalez about his efforts to rein we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right.
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lou: a new report find china tried to get loans from the world bank to fund surveillance of muslim minorities in training camps. china tried to secure fund to buy facial recognition and night surveillance equipment with fund from the world bank. our next guest introduced legislation to stop world bank lending to china. at least curb it. joining us is congressman anthony gonzalez.
great to have you with us. let's start with why in the world does the world bank sending our taxpayer money to china. don't we send them enough? don't they take enough? >> they take enough. there is no good reason why the united states taxpayer should be backing loans to the chinese government for prison camps or anything. but the reason why is china has infiltrated the world bank and influenced it to such a degree that it severely curbed our influence. they bought off the african countries is my understanding. so it's crazy. anybody who you paint this picture to comes to the same agreement. i introduced legislation that will encourage them to graduate from the program, never take
loans from u.s. taxpayers again and the world bank. lou: good for you, and shame on us. we created the world bank. we created the international monetary fund. now we act like disinterested, passive investors. our attention has never been more required. what more can we do? >> every world bank president is an american. lou: he's always been a hawk on china. what happened. >> david malpass is doing a going job of taimg that down. the previous president was horrific. you can look up speeches of the former president touting the belt road project as a good thing for china. when malpass came in you see it
start to go to zero. but he is working hard and his team is. but we need to continue to push on this. it's not going to have unless we push on this. lou: i want to turn to the articles of impeachment being marked up at the house judiciary committee. ways your take on whether we are -- why we are even going through this process. nancy pelosi and even adam schiff understands that they have been exposed as the louts they are. >> in my district it's very unpopular to be going down this impeachment path. i am against it for a host of reasons. on principle i'm against it.
but in a very important swing state, the people of ohio are not with this at all and i'm with them. lou: those are good folks to be with. i'm with the rest of the country, too. most of the country is absolutely adamantly opposed to these articles of impeachment in carrying out this affront against the president. in fact everybody who voted for him. it's unconscionable. >> especially so close to the next election. i am somebody who believes whenever you get the opportunity, you put faith in the american people. that's how self-government works. ebb voters who -- even voters who don't like the president say this feels like a partisan exercise. let the american people decide hot president of the united states is.
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lou: the radical dimms' attempted overthrow of the trump presidency started as an effort to disrupt his campaign then to block his path to the white house. i have a few thoughts on this. and to remind you once elected the dimms' and the deep state worked together to overthrow president trump. we know all of this because of the investigations launched by the fbi and the justice department in their efforts to subvert president trump and his agenda. and the investigations by the doj inspector general, his hard work to find out what was going on with those i is investigation. and of course the dogged investigation of attorney general barr to investigate the investigators. and hold accountable those 0
corrupted our government. even as we watch the hapless dimms trying to construct articles of impeachment, they appear unaware that they reached well beyond their grasp of the consequences and are now performing before an alert american public. after three years of their venomous attacks on president trump, their broader purpose is all too clear. the fbi's crossfire hurricane operation, the special counsel investigation, the desperately contrived pretext of an impeachment inquiry based on one phone call, and now the vapid conclusion to what has been a 3-month long farce. all of it is now clear, all of it was to overthrow the
president, and if that failed, at least to intimidate the president and his party. the dimms thought the least they could expect was a president who would do their bidding, abandon the wall on the border, sign on to any trade agreement that wall street and the business round table demanded. they were wrong. misjudging this president and misjudging the tens of millions of mayor caption who stood with him throughout. the unity of republicans standing with president trump and preserving his presidency and our republic. we are coming right back.
lou: our next guest has a book out already higher on the amazon best seller list than the so-called anonymous book. doug wead, advisor to two presidents, presidential historian, author of the new best seller, "inside trump's white house." it's out today. congratulations on the book. we recommend it to you highly. how much fun was this to write? >> it was so much fun. it's fun to even tell you. when they finally approved it and i walk in the oval office. he doesn't even say hello or shake my hand. i walk in the oval office.
he says this is my private correspondence with kim jong-un they don't want me to let you have it. they tell me not to let you see it. you can't copy it or keep it but you can read it. that's how it started. lou: very trumpian. the origins of the first of his motivation to be president, your thoughts about that? and what you reveal in the book. >> this was fascinating for me. at one point we went around and around. i got all the kids to tell me their versions. they were nothing like bill o'reilly said happened at the white house correspondence dinner. it happened way before that. as you know, because you know him. but at one point we were talking about business. he said, you know, you buy a business that's poorly run.
and then you sell it after you made it better. you never buy a business that's well-run because you will lose money, he said. i ran to president after two terrible presidents. so he's thinking bush and obama, i'm going to follow them, it's time to run. lou: those were two of the worst presidents i believe in this country's history. both bumbling. i know you served one of them. but this country was in terrible shape when the president was elected. i don't think anyone could have done a better job than he has stepping in and doing all he could against all odds. your thoughts? >> it's remarkable. i think he's a great president. you measure presidents based on the economy, how they handle war
and peace. on their intelligence, on their communications skills. there are 120 others. when it comes to comub case he's -- when it comes to communication, he's transformational. he could see what the greatest economists in the world couldn't see. they were unanimous. he was right and they were wrong. lou: one of the things that irritates the dickens out of me is to talk about whether he's giving jerome powell a tongue lashing because he doesn't have a sense of markets and he raises interest rates. people save he has good instincts. he has great judgment and intellect. it's stunning to see the people who do not want to across knowledge the innate capacity of the man, his intelligence and
his judgment. >> war and peace. that's what a historian looks like. it's been 40 years since a president has not started a war. it might be gra mada or libya or bosnia. they all invaded someone. not him. lou: to bring home troops as he says he will and he has. it's a difficult challenge in these times. your access to the president, how much did you have in what form. >> he allowed me to interview anybody i wanted. so i started -- it was pretty good. all the cabinet hostages. i interviewed the hostages. i started with the family and i couldn't get out of the family, they are so interesting. nobody had really interviewed jared extensively.
i did. i have 600 pages of interviews with the family that are utterly fascinating. the night of the election he thought he was going to lose early. and they said what are you going to do? he said i'll go downstairs on fifth avenue and say i did my best and i'm a patriot. and tomorrow i will get on a plane, go to ireland and play golf. then a few hours later they said you are going to win. he was watching the clinton young ladies crying because clinton was losing. he said look at this. imagine how they feel. very unusual, the story is different than i expected. lou: we recommend such stories to you in this terrific best seller. giving you great access, and we
are delighted. >> he loves you, i guess you know that. lou: he and i, we get along pretty good. thanks so much. good night from new york. our first amendment is under attack. a political environment that encourages hate division in shame. tonight and every night. it is our obligation to protect freedom. good evening i'm trish regan. we have allowed the left to shut down and out the other side. i get it it's easy to take freedom for granted but tonight as we come up on the thanksgiving holiday i want you to think about who we are as americans and who we want to be as americans. you see