tv Squawk Alley CNBC February 15, 2019 11:00am-12:01pm EST
used to be, a lot of the past administrations it was easy to get, they didn't build or do what they could have done, would have been great to have done it earlier. i was a little new to the job, a little new to the profession, and we have a little disappointment with the first year and a half, people that should have stepped up did not step up. they didn't step up and should have some people didn't step up we're stepping up now. we have a chance to get close to $8 billion, whether it is 8 billion or 2 billion or 1.5 billion, it is going to build a lot of wall. we're getting it done. we're now in construction with wall in some of the most important areas. and we have renovated tremendous wall, making it as good as new that's where a lot of money has been spent on renovation in fact, we were restricted to
renovating, which is okay. we're going to run out of areas to renovate pretty soon. and we need new walls. i want to thank everybody for being here, i want to thank the angel moms and dads for being here thank you very much. we have great respect for you. the real country, our real country, the people that love our country love you i want you to know that. i know how hard you fight and how hard a fight you have. i want to thank all of the law enforcement for the job you do believe me, our country loves you and respect you greatly. and we're giving you a lot of surplus, giving you surplus military equipment, which a lot of people didn't like giving previous to this administration. but hundreds of millions of surplus equipment, as we get it, we send it down, and you have much better protection
but i really appreciate you being here so the order is signed i'll sign the final papers snls i get into the oval office and we will have a national emergency. we will then be suded and they will deny circuit even though it shouldn't be there, we will possibly get a bad ruling, and then another bad ruling, and then we end up in the supreme court, and hopefully we get a fair shake and win at the supreme court just like the ban. they sued us in the 9th circuit, we lost, and then we lost in the appellate division, then we went to the supreme court and we won. it was very interesting because yesterday they were talking about the ban. we have a ban, it is very helpful, madam secretary, is that right, without the ban, we'd have a bigger problem we have a ban on certain areas,
certain countries depending on what's going on in the world and we won but somebody said president trump lost on the ban. well, he was right, i lost at the low court. he didn't say that we ultimately won at the united states supreme court. they didn't want to say that, they didn't want to go that far. they were saying how i lost. person sitting right up here donald trump lost on the ban yeah, i did. then i lost a second time, you should have said that too. then it went to the supreme court and i won. didn't want to take it that far. but we won on the ban and won on over things too. the probably easiest one to win is on declaring a national emergency. we're declaring it for virtual invasion purposes, drugs, traffickers, and gangs one of the things to finish, we have removed thousands of ms-13
gang monsters, thousands they're out of this country. we take them out by the thousands. and they are monsters. okay do you have any questions? john >> you were prepared mr. president, a lot of the money -- >> you saying i was prepared >> the microphone. >> i thought you meant i was prepared people don't like saying that. >> you were prepared for questions. >> i am prepared i am always prepared. >> a lot of money that goes towards the 8 million is being reprogrammed in the dod budget how can you guarantee to military families and men and women of the military none of the money would be reprogrammed to a wall will take away from other technology and renovations, construction that's desperately needed in the military. >> so john, we had certain funds that are being used at the discretion of generals, at the
discretion of the military, some of them haven't been allocated yet, and some of the generals think this is more important i was speaking to a couple of them they think it is far more important than what you were going to use it for, i won't get into details but didn't sound too important to me. plus, if you think, i've got in $700 billion for the military in year one and last year $716 billion, and we're rebuilding our military but we have a lot. and under the previous administration our military was depleted, badly depleted they had a much smaller amount of money when i got 700 billion and then 716 billion, and this year it will be pretty big too, a few things mo -- few things more important than the military.
before we start focusing on certain things, we have to build up our military. it was badly depleted. we're buying new jet fighters, missiles, defense equipment. we'll soon have a military like never before when you think about the kind of numbers you're talking about, you have 700 billion, 716 billion, i need 2 billion, 3 billion out of that, for a wall, which is a very important instrument, very important for the military because of the drugs that pour in and as you know, we have specific rules and regulations where they have drugs, and what you can do in order to stop drugs. that's part of it too. we're taking a lot of money from that realm also. but when you have that kind of money going into the military, this is a very, very small amount we're asking for, go ahead. go ahead
abc. not nbc. i like abc a little more, not much come on. abc. not much pretty close >> mr. president, what do you say to those including some republican allies that say you're violating the constitution with this move, setting a bad precedent that will be abused by possibly democratic presidents in the future >> not too many people have said that, yeah, but the courts will determine that look, i expect to be sued. i shouldn't be sued, very rarely do you get sued when you do national emergency, and then other people say do you use it for this, what are we using it for. we have to get rid of drugs and gangs and people, it is an invasion we have an invasion of drugs and criminals coming into our country that we stop but it is very hard to stop. with a wall, it would be very easy so i think we will be very successful in court. i think it is clear. and the people that say we create precedent, well, what do
you have, 56 or a lot of times, that's creating precedent. many of those far less important than having a border you don't have a border, you don't have a country we fight, before i got here, we fight all over the world to create borders for countries but we don't create a border for our own country. so i think what will happen is sadly we'll be sudan sadly it will go through a process and happily we'll win. i think. go ahead let's hear it, nbc >> thank you, mr. president. in the past when president obama tried to use it, you said the concept of executive order, it is not the way the country is supposed to be run, you said you're supposed to go through congress and make a deal will you concede you were unable to make the deal you promised in the past and that the deal you're ending up with now from congress is less than you could
have had before a 34 day shutdown. >> i went through congress, i made a deal. i got almost $1.4 billion when i wasn't supposed to get one dollar, not one dollar he's not going to get one dollar i got 1.4 billion, but i'm not happy with it. i also got billions and billions of dollars for other things, port of entry, lots of different things, purchase of drug equipment. more than we were even requesting in fact, the primary fight was the wall everything else we have so much, as i said, i don't know what to do with it, we have so much money. but on the wall they skimped so i did, i was successful in that sense, but i want to do it faster i could do the wall over a longer period of time. i didn't need to do this but i'd rather do it much faster and i don't have to do it for the election i've already done a lot of wall for the election 2020 and the only reason we're up here talking about this is
because of the election, because they want to try to win an election which it looks like they're not going to be able to do and this is one of the ways they think they can possibly win, by obstruction and other nonsense and i think i just want to get it done faster, that's all yes, ma'am, go ahead >> thank you, mr. president. roberta ramton from reuters. i want to ask on china do you feel enough progress has been made in talks to head off the increase in tariffs scheduled for march 1? >> well, you know, you're talking to the wrong person, i happen to like tariffs, okay we're taking in billions and billions of dollars in tariffs from china, and our style industry is an example we tax steel from china much of it at 25%. the steel industry is now vibrant again, building plants all over the united states, it
is a beautiful thing from a defensive standpoint and any standpoint, you need steel you can do without certain industries, our country cannot do without steel so i love tariffs but i love them to negotiate. and right now, china is paying billions a year in tariffs, and i haven't even started here's the thing if we make a deal, they won't have to pay. it will be a different story they won't be paying that, we'll have a fair deal there won't be intellectual property theft and other things that have gone on. no other president has done this we didn't have a deal with china. yet the wto, one of the worst trade deals ever, probably worst than nafta, which is believable, hard to believe, i think nafta was a disaster it was a total disaster for our country, and now we made the usmca which is going to be a great deal and by the way, the usmca from
mexico, united states, mexico, canada, that's what the money is coming from not directly but indirectly for the wall. and nobody wants to talk about that because we're saving billions and billions of dollars a year, if congress approves that deal. now, they might not want to approve a deal because they'll say one of the things i'm thinking of doing this has never been done before, no matter how good a deal i make with china, if they sell me beijing for $1, if they give me 50% of their land and every ship they built over the last two years, which is a lot, and they give them to me free, the democrats will say what a lousy deal. that's a terrible deal like zte i have a billion, more than a billion dollar penalty in a short period of time, and the democrats said oh, should have gotten more. when i made that deal, i said
this is incredible i got over a billion dollar penalty and they had to change the board of directors, change the top management, but they had to pay over a billion dollars. i said what a deal took like a week and the democrats didn't even know there was a problem with zte. i am the one that found it and settled it, over a billion president xi called me and said it would be important to him if they could get a deal. and we made it in a short period of time. the democrats went out and said oh, they should have done better so what i'm thinking of doing is getting chuck schumer, getting nancy pelosi, having them bring two or three of their brilliant representatives and we'll all go down together and what we'll do is we'll negotiate, i'll put them in the room, let them speak
up because any deal i make with china, it is going to be better than any deal anybody dreamt possible or i'm not going to have a deal, very simple but any deal i make with china, schumer is going to stand up and say oh, should have been better, it should have been better and you know what, that's not acceptable to me so i'm thinking about doing something very different i don't think it's ever -- i don't want to be second guessed, that's not even being second guessed, it is called politics, sadly i would probably do the same to them, but any deal i make toward the end, i will bring schumer, at least offer them, and pelosi i'm going to say please join me on the deal. and by the way, i see a new attorney general sitting in the front row. please stand up, bill. such an easy job he's got. he's got the easiest job in government thank you. and congratulations. it was a great vote yesterday. thank you very much. yes, go ahead.
go ahead >> in your remarks you said you were too new to politics in the administration when you would have preferred this be done. is that an admission how you might be changing on the job and -- >> i'm learning, i am learning don't forget, it is not like i've done this -- a senator said i have been running for office 30 years, i won 7 out of 7 i did lose a couple when i was younger. i said i won one out of one, but i never did politics before, now i do politics. i will tell you, i'm very disappointed at certain people, particular one, for not having pushed this faster >> are you referring to speaker ryan >> let's not talk about it what difference does it make they should have pushed it faster, should have pushed it harder, and they didn't. they didn't. if they would have, it would have been a little better.
meantime, i built a lot of wall. i have a lot of money, i built a lot of wall. it would have been nice to have gotten done. i would like to see major immigration reform and maybe that's something we can all work on, bill, where we all get together, do major immigration reform, not just for a wall, a barrier, for port of entry, for other things, we have a real problem. we have catch and release. you catch a criminal and you have to release him. we have so many other things you have chain migration where a bad person comes in, brings 22 or 23 or 35 of his family members because he has his mother, his grandmother, his sister, his cousin, his uncle, they're all in you know what happened on the west side highway. that young wise guy drove over, killed 8 people and horribly injured, nobody talks about that, horribly, like loss of legs and arms, going 60 miles
per hour, made a right turn into a park on the west side highway along the hudson river in new york he had many people brought in because he was in the united states it is called chain migration then you have the lottery. it's a horror show when countries put people into the lottery, they're not putting you in, they're putting some very bad people in the lottery it is common sense if i ran a country and if i have a lottery system of people going to the united states, i'm not going to put in my stars, i'm going to put in people i don't want the lottery system is a disaster i'm stuck with it. >> mr. president, could you tell us -- >> it should have never happened >> could you tell us to what degree some of the outside conservative voices helped to shape your views on the national emergency? >> i would talk about it look, sean hannity has been a terrific, terrific supporter of what i do, not of me if i changed my views, he wouldn't be with me.
rush limbaugh, i think he's a great guy. i can speak to three hours without a phone call, try doing that, for three hours he speaks. one of the biggest audiences in the history of the world this guy is unbelievable try speaking three hours without taking calls taking calls is easy i'll answer this one, i'll answer that one. he goes for three hours and he has an audience that's fantastic. if i went opposite, to have somebody, ann coulter, i don't know her, i hardly know her. haven't spoken to her in way over a year. but the press loves to say ann coulter. probably if i did speak to her, she would be very nice, i just don't have the time. i would speak to her, i like her for one reason when they asked her at the beginning who is going to win the election, she said donald trump. and the two people that asked
her that question smiled they said you're kidding, aren't you? nope donald trump so i like her. but she's off the reservation, but anybody that knows her understands that but i haven't spoken to her, i don't follow her, i don't talk to her, but the press loves to bring up the name ann coulter, and i think she's fine, she's good, but i just don't speak to her. laura has been great, laura i think gra ham, tucker carlson. i have a couple of people on cnn that have been good. someone on msnbc the other day, did a great report of me i said where the hell did that come from? i think it was the only one in over a year. so the crazy thing is i had rasmussen, 52% in the polls. my highest poll number and people get what we're doing. they get it. they really get it and i'm honored. yes, jim acosta. >> thank you, mr. president. i wonder if you could comment on
this disconnect that we seem to have in this country where you are presenting information about what's happening at the border, calling it invasion, talking about women with duct tape over their mouths and so on, yet there's a lot of reporting and crime data out there, a lot of department of homeland security data out there that shows border crossings at a near record low >> that's because of us. >> undocumented immigrants. >> excuse me, it is massive levels >> it shows undocumented criminals or immigrants committing crime at lower levels than native born americans >> you don't really believe that stat, do you do you believe that stat look at our federal prisons. >> i believe in facts and statistics >> quick, let's go >> let me ask you this what do you say to critics who say you are creating a national emergency? that you're concocting a national emergency here in order to get your wall because you couldn't get it other ways >> what do you think, do you think i am creating something?
ask these incredible women who lost their daughters and sons, okay because your question is a very political question you have an agenda you're cnn, you're fake news you have an agenda the numbers that you gave are wrong. look at our federal prison population see how many of them percentage wise are illegal aliens. just see go ahead and see it is a fake question. yes, go ahead. >> can i ask a follow-up >> thank you, mr. president, just to follow-up on that, unifying crime reporting statistics, from your own border patrol and this government show the amount of illegal immigrants are down, there is not violence on the border. >> no violence on the border >> not as much violence. >> really? 26 people -- >> let me finish the question. >> two weeks ago 26 people were killed in gunfire on the border. a mile away from where i went.
>> i was there i understand that's not the question. the question is -- >> do we forget about that >> i'm not for getting that. i am asking you to clarify where you get your numbers most of the dea crime statistics show drugs are coming across at the ports of entry, illegal immigration is down and violence is down. so what do you base your facts on >> let's go. no, no you get one. >> wait. >> sit down. sit down you get one question i get my numbers from a lot of sources like homeland security primarily. and the numbers that i have from homeland security are a disaster and you know what else is a disaster the numbers that come out of homeland security, the costs we spend and money we lose from illegal immigration. billions and billions of dollars a month. billions and billions of dollars. and it is unnecessary. >> so your own government stats
are wrong are you saying >> no, no, i use many stats. >> could you share those stats with us? >> you have stats far worse than ones that i use. but i use many stats, but i also use homeland security. next question. >> just a quick follow-up. >> go, please. >> thank you, mr. president. i want to bring you back to china second the white house put out a statement talking about the march 1st deadline the other day you gave a possibility that maybe this could slide. are you eyeing a possible extension, 30 days, maybe 60 days, where does the status -- >> it is a very big deal i guess you could say it must be the biggest deal made, you think trade with china, how big does that get, although if you look, usmca is right up there. but it is very complicated there are many points we're bringing up nobody thought to bring up but they're important, we were on the wrong side of every one of them. there's a possibility that i
will extend the date and if i do that, if i see we're close to a deal or the deal is going the right direction, i would do that at the same tariffs as now, i would not increase tariffs. >> let me ask you about the debt it has gone from a shade under 20 trillion when you took office, now it is a shade over 22 trillion and heading in the wrong direction. what are your plans to reverse it >> it is all about growth. if we focus on that, and you have to remember, president obama put on more debt on this country than every president in the history of our country combined so when i took over, we had one man that put on more debt than every other president combined combine them all so you can't be talking about that but i talk about it because i consider it very important but first i have to straighten out the military the military was depleted. and if we don't have a strong military that hopefully we won't have to use because it is strong, if we don't have a
strong military, you don't have to worry about debt, you have bigger problems. that's why i did the 700 and 716 billion. growth will straighten it out. you saw last month the trade deficit went down. everybody said what happened well, what's happening is growth but before i can focus too much on that, a very big expense is military and we have no choice but to straighten it out. >> is growth the only answer >> yes, ma'am, go ahead. >> thank you, mr. president. on north korea back on the last summit, you guys came out with a pretty general agreement >> yes. >> i was wondering what you thought has been accomplished since the last summit. >> a lot. >> are we going to be seeing things concrete on denuclearization. >> a lot has been accomplished we're dealing with them, we're talking with them. when i came into office, i met right there in the oval office
with president obama and i sat in those beautiful chairs and we talked it was supposed to be 15 minutes, as you know, it ended up being many times longer than that i said what's the biggest problem. he said by far, north korea. and i don't want to speak for him, but i believe he would have gone to war with north korea i think he was ready to go to war. in fact, he told me he was so close to starting a big war with north korea. and where are we now no missiles, no rockets, no nuclear testing, we've learned a lot. but much more importantly than all of it, much more important, much, much more important than that is we have a great relationship i have a very good relationship with kim jong-un and i've done a job. in fact, i think i can say this, prime minister abe of japan gave me the most beautiful copy of a
letter that he sent to the people who give out a thing called a nobel prize he said i have nominated you or respectfully on behalf of japan, i am asking them to give you the nobel peace prize. i said thank you many other people feel that way too. i'll probably never get it but that's okay, they gave it to obama, he didn't even know what he got it for. he was there 15 seconds and got the nobel prize, oh, what did i get it for with me, i probably will never get it, but if you look at the province in syria, i stopped slaughter of perhaps 3 million people nobody talks about that. they don't talk about that russia and iran and syria were going to go in and perhaps destroy three million people in order to get 45,000 tariffs. i heard about it from a woman who had her parents and her brothers living there, she said please, please
i thought, i said no, it can't happen what are you talking about and i come home and read a paper where the story was there, they were forming to go into really do big destruction i put out a statement that you better not do it and in all fairness to russia and iran and syria, they didn't attack or they're doing it surgically at least save a lot of people we do a lot of good work this administration does a tremendous job and we don't get credit for it, but i think the people understand what we do so prime minister abe gave me the most beautiful five page letter nobel prize. he sent it to them you know why because he had rocket ships and missiles flying over japan, they had alarms going off, you know that
now all of a sudden they feel good, they feel safe i did that and it was a tough dialogue in the beginning, fire and fury, total annihilation, my button is bigger than yours and my button works. you remember that? you don't remember that. people said trump is crazy and you know what it ended up being? a very good relationship i like him a lot and he likes me a lot. nobody else would have done that the obama administration couldn't have done it. number one, they probably wouldn't have done it, and number two, they didn't have the capability to do it. so i just want to thank everybody. i want to wish our new attorney general great luck and speed and enjoy your life. bill, good luck. tremendous reputation. i know you'll do a great job thank you very much. and thank you everybody. thank you very much. thank you.
>> that is the president, clearly unscripted, taking several questions from reporters. covering several topics before getting to the news obviously on china trade that he would in fact consider extending that trade deadline past march 1st, and the reason for the appearance in the first place, saying that he will sign a national emergency redirect dod funds to build a border wall, his words, talking about invasion of our country. before going onto answer a question saying i didn't need to do this, i just wanted to get it done faster, that's all. >> $8 billion is the number he is putting out there in terms of the military funding, talking about billions for a budget that was 716 billion overall for defense this year, 700 billion last year, saying this is a small amount we're asking for, and that he has spoken to the generals of the military, some generals think it is more important than some of the ways they were going to use that
money. also saying this year's defense budget which folks invested in the area have been watching closely is going to be, quote, pretty big too >> talked about the stock market said you're talking to the wrong person, i happen to like tariffs. a lot to chew on eamon javers in the rose garden, your thoughts? >> reporter: wide ranging press conference, started as a statement about the national emergency. the president had a lot on his mind, including a couple of sort of items not related to the news he hinted there might be a major announcement on syria in 24 hours, and also he suggested that there are good things happening in terms of the chinese delegation coming next week to continue negotiations on trade, promising it could be one of the biggest deals of all time, the president said and fascinating to look at his perspective on the border emergency. the president saying that ultimately democrats were willing to give him enormous amounts of money on everything else except a wall he said he is getting so much
money in other areas, he doesn't know what to do with it. ultimately frustrating his ability to get that border wall funding. that's why we are where we are today with the national emergency declaration that the president promises to put through, presumably later today. we'll see how the democrats respond, whether we get ultimately lawsuits. the president predicting he will be sued, he will be sued in the 9th circuit, he said, and he expects it to go up to the supreme court. no immediate resolution to the president's problem here but he is taking political action and legal action that he feels is going to resolve this log jam and resolve it in his favor, carl. >> didn't quite take the bait in kelly o'donnell's question whether former speaker ryan was to blame for not bringing it to the floor sooner than it did come, a little debate over data collection with jim acosta regarding the path of drugs into the country, whether it is over borders or through ports of
entry. kayla tausche did make comments on trade negotiations. seemed to say that he would meet with president xi sometime after the coming meetings, in his words resolve remaining details. >> i was surprised how much of the 53 minutes he spent talking about china, despite original billing of the speech as declaration of a national emergency. he talked about this being the biggest deal ever. he talked about the fact he believes talks are going well, he said whatever that means, not laying down detail on where things currently stand, saying chinese delegation is coming here next week, and he is considering the possibility of moving that march 1st deadline if he feels talks are going well so certainly that would be welcome news to the market which wants to see progress on the trade front, but interestingly he said he would get democrats in the room who have been criticizing his positioning and posturing with china he said he would call on speaker pelosi and leader schumer to come and sit down with the
chinese delegation or with president xi to talk about making a deal. interestingly referred to the deal he made last year on china's zte which had been heading towards a supply chain ban, a sales ban here in the united states until president xi got involved president trump got a billion dollar fine, made governance changes, said i got a billion dollars and democrats wanted more that wasn't the case the issue was a national security issue which the intelligence community continues to cite and they raised questions what the u.s. got in return interesting the president is still chewing on the deal he made for zte last year as potentially similar deal with them as it comes to the floor. that's an interesting guide post on where his thinking is regards to chinese telecoms. >> certainly is. mike santoli joining us. dow up 328 points now. we're close to highs of the day.
trade talk exuberance, hopes i should say >> seems like the shortest version of what we're doing is continuing to price in progress on trade and the backdrop that the market refused to pull back. i think people felt it was getting away from them i think the best time for china trade deal is soon, meaning not now. it reminds me of lead up to the tax law. how many times do you price in the fact you get corporate tax cuts there's many days before you pass that law. that's the same situation now. as long as we have this to look forward to, and backdrop of treasury staying low, credit markets staying in firm shape. you can write down numbers because of the shutdown, in terms of the rally extending. >> some semiconductor stocks up,
that could be reflective of trade given the buzz around semiconductor purchases. >> exactly one of the few specifics in the reports of the negotiations is purchases of semi conductors i see why that would be the case more broadly, nasdaq is lagging. big growth stocks yesterday and today didn't help. amazon down today, facebook down again today. so it is a mixed picture i don't see this as people deciding for a very specific reason to throw money into the market, it is more a continuation of recovering back toward december 3rd highs in the indexes. december 3rd high i think was 2790 on the s&p 500, we're still almost a percent below that. >> to use your amal gum of the cut, we went from 2680 to 2840 in a hurry >> exactly
>> expectation the same would happen. >> and two months later lower. so i don't think so. this is not the same spring loaded event that will directly send earnings estimates higher basically, remember no analyst built in anything for tax cuts as of december 21st when the law passed it was a huge rush to say we're more profitable. i don't think it is the same earnings estimates are trending lower at the moment. >> we'll keep watching mike santoli, eamon javers, thank you for joining us, and kayla tausche. more to come more on the market plus, bezos backing out, amazon scrapping plans to build a campus in new york city. we have two outspoken politicians on either side of e sue. more "squawk alley" after this break. - our way. ♪ valerie: but we worry if we have enough to last. ♪ cal: ellen, our certified financial planner™ professional, helps us manage our cash flow and plan for the unexpected.
i am melissa lee should investors stick with this year's winners investors are up, small caps up 16%. the debate begins at noon. before you go in, listen to the call of the day, what the options market says about energy's next move the sector had a big week, up more than 4% halftime report starts at the top of the hour. jon, back to you >> thank you, melissa. amazon's decision to scrap its new york hq2 plans impacts no area more than long island city, and the people there that's the proposed location of
the campus that's where we find contessa brewer >> reporter: yeah, jon, hopes were dashed here people were looking forward to 25,000 new jobs, paying on average annual salary of $150,000, and political insiders tell me look, the opponents may have gotten more than they bargained for. what they hoped for, get amazon to sweeten the deal. instead, the online retail giant got up and walked away no love fest here in queens neighborhood because of amazon's pull out >> where are you going to get that revenue we're losing? >> reporter: the politicians that opposed fast tracking of the amazon deal were there, having a victory news conference, neighbors were shouting to local leaders, there was pro and anti, and promising
political consequences. >> my heart bleeds for a lot of the ones in the neighborhood that are local mom and pop shops. i feel like there's a lot of struggle involved there. what my hope was with at least 25,000 people coming in, it would even out the edges a little bit >> reporter: new york governor andrew cuomo is especially disappointed, he brokered this, called it the biggest economic deal in state history. now he is left with nothing on the plate. amazon says it is going to focus solely on nashville and virginia now, it is not looking for a new headquarters meanwhile, protests have turned from against local politicians who opposed it to amazon itself. i am heading over to a protest in manhattan where one guy says i invested a million dollars in my property, thinking amazon was coming on board, and no, they just bail out. jon? >> thank you joining us on opposing sides of the amazon debate, assemblyman
who opposed that package and bronx assemblyman michael blake that supported amazon's move into new york good morning to you both thanks for being with us >> good morning. >> assemblyman blake, one of the things that confounds me, apple, google, sap all moving to new york, not looking for this kind of deal, and polling numbers seem to be on amazon's side. why do you think they pulled out instead of explaining themselves and fighting for their position? >> definitely should have been opportunity to engage more at the table. that's what a lot of us thought was occurring. i signed the original letter and said if you had the opportunity to help people of color, low income communities get jobs, higher wages, that could have been a game changer. why did they pull out? i thought there were loud voices pushing back rather than saying let's be responsible in this approach when we said what can be further, yes, union protections, stepping up for women and people
making sure immigrants have protections as well, but walking away, being pushed away will lead to communities of color in queens and the bronx overwhelmingly who wanted this to happen being rejected, feeling they can't have jobs they could have had because of amazon. >> and assemblyman kim, even in the heart of silicon valley, san jose, google wants to bring 20,000 jobs there, protests at city council meeting what it would do to the housing situation there. they're still tuoughing that out what's the lesson the way amazon engaged and the way they walked out? >> there's something fundamentally wrong in our country when politicians, mayors, governors are competing to give away taxpayer money. that's what happened the last two years. there's absolutely no statistical correlation between jobs, economic growth and corporate give aways number of economists testified to that fact we continue to double down and
executives continue to justify the corporate give aways we give 8 to $10 billion of corporate welfare with no return up state new york, tesla, one job costs us almost a million dollars now. instead of putting money towards the corporate incentives, we should reinvest every dollar the next ten years of affordable housing, subways, broken schools that has long term sustainable growth. >> i think we need to make it clear. there's a lot of miscommunication and misreporting out there now the $3 billion in tax breaks largely that amazon was going to receive here were reductions in future taxes that the company would have paid if it moved here >> exactly >> but the point is the fact they were tying our money, taxpayer money to growth and performance of a mega monopoly designed fundamentally to extort our communities andtake value
out of local economies instead of recirculating that wealth. >> talking about 25,000 high paying jobs. >> local small businesses, mom and pops were struggling every day. if they get those breaks, they'll have tangible jobs in local economies today. >> here's the problem. ron is literally not focusing on facts. at the end of the day you have to have incentives to help create jobs. i ran minoritybusiness portfolio of president obama at the white house. the notion you won't have incentives that have opportunities that will lead to economic impact on the ground doesn't make any sense whatsoever so at the end of the day, communities of color wanted to see this happen. queens and the bronx in particular the concern is rhetoric as opposed to reality could you have made the deal better yes. that's the concern we're all saying come to the table, make it better jobs lost have negative impact on everybody. >> am i hearing you, do you think this is not done, do you think there's any chance of a
way to come together >> absolutely. that's responsible leadership. we think in the conversations reported a few hours ago, the union was having meetings with amazon yesterday to figure out what could be done this is the conversation that we cannot stop on the job opportunities, the economic impact, the changes for local community we cannot ignore. >> bottom line, amazon is an abusive company. google gives us back a billion investment, amazon is adamant on extorting $3 billion of tax credits on the state of new york that's the difference between amazon versus google and facebooks of the world building corporate centers in the state of new york. >> it is a head scratcher. google says they're going to add 7,000 workers over a decade, sap in hudson yards, they're not making the same kinds of demands. i guess there's a question, why wouldn't amazon pay the taxes. >> and can you have adjustments on this, absolutely. we think about what could have been opportunity, with cuny,
students going to cuny schools, for affordable housing, make sure 1500 units still happen so the consideration of completely walking away from a deal that could create 25,000 jobs for people of color and women is absurd. now, we have to be responsible in how we move forward we talk about google, perfect example and other entries before, but the notion of walking away, saying to communities that for decades suffered poverty is unacceptable. >> amazon could not commit to hiring locally they were at a city council hearing on the spot, refused to hiring local. >> that's not true memorandum of understanding said in good faith when it came to local hiring, that's factually not true what's said, how do you move forward, making sure local hiring, people of color, women, and immigrant and union protections happen we can't allow rhetoric opposed to reality. >> do you put any blame on amazon for not coming in, saying the right things, the way
companies are used to, coming to a new town. >> no question so we can have the kfconversatin of moving forward and figure out how to get to the end for everybody. the question, does there need to be better improvements in relationships, absolutely. but the notion of completely walking away both sides is unacceptable. >> every data has proven, foxconn wisconsin, internal auditors came out last week, said we're not going to see return on investment for 35 years. >> that's a different deal. >> and ron is ignoring he keeps bashing on amazon, his campaign is purchasing from amazon. rhetoric versus reality. >> here is what i want to know, bottom line. are you concerned that this essentially now for new york city and the state of new york makes it that much more of a head wind for other businesses to want to come in and do business there >> i don't think so. there's intrinsic value in the city of new york 70,000 jobs in december of 2018
alone. we are competitive when it comes to tax jobs. there's a decentralized economy of companies that are coming in here, doing a number of positive things those are the type of startups and companies we of start-ups that we supported but making it difficult for them to add to the market but we're giving out the kingdom to big corporations like amazon >> we talk about listening, the overwhelming majority of new yorkers wanted the amazon deal ron is focused on rhetoric than reality. as someone that helped start businesses and access the capital and contractor, i do not believe it will make it difficult for more to come in but we have the communing on the front end. there should have been broader conversation around the incentives >> we'll end it there. thank you be p th
this is problem they will continue to face good morning, rick >> good morning. this week there's been a lot going on i think we can sum it up in three words. data, debt and taxes some of the inflation questions embedded in university of michigan survey. inflation isn't debt all you have to do is keep your fingers crossed that wages can go up. for all practical purposes it seems as though prices have peaked thus far in this part of the expansion cycle. we could argue how long in the two it is. second issue, debt what was a big story this week national debt. 22 trillion. trillion with a t. that's a really big number, and of course, it's going to be a beeline as we get ready for debates with new democratic
hopefuls to take the big chair it's all going to end up being about taxes. what's the other big story this week we're just listening to it amazon they been in news later for three things first thing, i don't want to talk about the second thing, hq2 in new york and all falling apart there was a third thing. it talks about how amazon and i don't mean to pick on them, but how many large corporations don't pay any federal income tax. it get it. even the president, current president said don't pay more than you have to here's my solution you know this will be a big hot potato in the elections. with individuals, we have something called amt alternative minimum tax. why don't we take these big corporations and say, listen, here is your army of accountants trying to decipher and get your taxes as low as they can on the
complication of our tax code and on the other side we'll have a certain percentage maybe stagger based on how the nationals are you pay the biggest of the two it's a lot better than tearing it up and doing damage to the smaller size business that is are contributing carl, back do you. >> all right a lot to shchew on today. take a look at the markets not that far up from sessions high which was about 364 on e th dow the we're back in less than three minutes. rebekkah: opioids has taken everything and everyone i've ever loved away from me. everything. i blew my ankle out and i got prescribed pain pills by my doctor.
welcome back cnbc is live at the nba tech summit that's where we find eric who caught up with a special guest eric >> that's right. we just spoke a few minutes ago to the owner of the washington wizards. a former tech executive with aol experience and he's part of a greater washington partnership that helped recruit amazon i asked him about amazon moving out of new york city here is what he had to say about that >> i can't speak at all to what's going on in new york. we have welcomed amazon with open arms in northern, virginia,
warde washington, d.c. i'm worked with oamazon and jef since 1994 we have thrilled they have come to d.c the work force, the technology infrastructure, the three airports that we have, the eight universities, we all came together to create on a environment that said we would like amazon to come into our community and we're thrilled they made that decision. >> another thing that's been in the news, nfl team owners have been recruiting adam silver to run their operations we asked what makes silver so special and what were his thoughts on what if he left one day. here is what he said >> what he has always reminded us is the players are our number one priority and the fans are also at the center of everything
that we do he's been a great leader he believes in democracy he hasn't been tyrannical in the way he's gotten the best out of us all around he's great person, great leader >> then finally we said, it's been a great five-year run for the nba revenues if this were a stock, it feels like it may have peaked. one anyone want to buy a stock like this right now. he's still optimistic. here is what he said >> this is a growth stock and this tree can grow to heaven i think we have so many things going for us first, we're an indoor sport when you're an indoor sport you can can have high speed cameras. you can have high speed data that's exchanged you can really, really make the game very transparent and set it up for the two great new trends
which is e sports and gaming and gambling >> morgan, that's what the wizards owner had to say here. remember, the slam dunk contest is tomorrow. i wonder which of you would be the best dunker. >> clearly me. i'm 5'2" >> they're masters of social media and big around the world that's something you can't say about the other major sports leagues. sg. >> exactly >> great stuff markets really unphased by anything they heard in the rose garden the russell is trying to become the last major index to exit correction as it's already above its december highs >> industrials one of the best performing sectors given those
comments and optimism around trade. it's the best performing sector so far this year despite all the uncertainties and tariffs and whatnot. >> we see at&t up quite a bit this morning ge as well >> have a good long weekend. let's get to the half. welcome to the halftime report i'm melissa lee. stocks continue their surge. the dow is less than 5% away from its all time high the russell is on a tear up almost 16% year to date the industries up 17%. do you stick with the winners? see what the halftime report investment community thinks. we're tracking nvidia as this great trading stock makes a bit of a run the reit run the sector just hit an all time high but one