every day. >> kentucky bmw in south carolina, we can make great cars in the united states. maria: and we are. dagen. dagen: wall street journal 2018, republicans can defend an accomplishment or try to explain away a failure. talking about health care. maria: do it. have a great day. here is "varney & company." stuart, take it away. stuart: thanks very much, maria. this is not good news, obamacare is collapsing and the vote to reform it has been delayed. the media gloating. good morning, everyone. republican senators cannot agree. they will leave washington for the july 4th holiday, they'll come back and try again. when they return to their constituents, they will be met with a barrage of lobbying from both sides. that will not make compromise easier. there are nine g.o.p. holdouts. if republicans can't agree leader mcconnell says he'll have to bring in senator schumer and the democrats, that means no reform at all.

the media loves this. the new york times says party fissures have been exposed in an embarrassing setback for republicans, end quote. and here is a dire warning from the conservatives, if g.o.p. senators blow this, say hello to single payer health care. i repeat, this is not good news. however, yet again, political paralysis has not spilled over to the markets. the modest gain for the dow expected right there at the opening bell today. but the markets are getting nervous. and an another 100 point drop for the dow yesterday, all the big five technology stocks took a hit yesterday and there were modest rebound today, but that's not much. a modest rebound. wait, there's more. gas down again, see that smile? the white house calls out cnn and sarah palin sues the new york times. big day for politics and for your money. "varney & company" is about to

begin. ♪ >> now, the headline there was the collapse of venezuela and, yes, it's really in crisis. look at this. the country's president maduro claims that helicopter dropped grenades on venezuela's supreme court. he's calling that a terror attack. elizabeth, as in e-mack, venezuela is on the brink of civil bar. liz: and this is coming out now. maduro, the leader of the country, what we can't do with votes we will do with weapons. so this looks like imminent civil war. a stolen police helicopter, possibly a rogue officer, say, yes, he shot grenades at the supreme court building and interior ministry. no one was hurt. so far in three months of

unrest, nearly 80 people dead and thousands injured and national guard detained 400 people within the national assembly including 20 senators. so this is deeply spiraling out of control now. stuart: well said, lizzie, satisfies exactly what's happening. the futures, where are we opening? we're opening on the upside. down nearly 100 and we'll bounce back 40-odd points of the dow industrials at the opening bell today. look at the big five companies. this is the premarket quote where they're trading at now. all of them a little higher than yesterday's close. the price of oil rallied since hitting a 10-month low last week and this month we're holding at $44 a barrel. here is the good news. gas prices keep on falling, down another penny overnight. we're at 2.24 national average and now there are five states below $2 a bal. south carolina, oake,

mississippi, now missouri. ashley: more, baby. stuart: more and i'll be right. cheap gas, here it is. diane sent in a picture from buford, georgia. $1.97. that's the great state of georgia. >> driving down there to fill up. [laughter] >> now let's get serious. stop laughing! here is my opinion on health care, and the republican party. i say something on health care is better than nothing. get an agreement, if you don't, the democrats will take over and give us obamacare on steroids. that's my opinion. liz peek has to bear the brunt of this opinion. i'm going to stick it right at her. give us something rather than nothing. >> where is the patience and willingness to work through the system? i don't really get it, that rand paul is sort of like all or nothing. it's neither going to be repeal obamacare totally, or he is basically not going to back

this bill. his state went very profoundly for donald trump. i don't really see how he doesn't understand that this is a blow to the trump white house, the gaen agenda and that said, mitch mcconnell has some to buy votes for the bill. the cbo scored it saving a lot of money from terms in future outlays and he can go back to the conservatives and offer them things they would like and offer things to susan collins and the moderates that they would like, like better tax credits, et cetera. >> it's going to come down to money unless you have these people like ted cruz, rand paul, mike lee, who are so dug in on perfection, that they're not willing to compromise. and i think that would be a huge blow to the republican party. stuart: handicap it. hold on a second. yesterday, we did this. liz was 60-40, yes, it passes. ashley, 70-30, yes, it passes. liz peak.

>> i'm 70-30. i think the alternative is incomprehensible and isn't acceptable. liz: look at this, we had 21 senators according to the wall street journal on the republican side, in states where medicaid grew, the number of medicaid recipients, that population grew. that 188 billion could be used to expand medicaid or do more for the opioid crisis or expand health savings accounts. watch the wheeling and dealing, the sausage making is on blitz mode. stuart: do we have that watch that. liz: we don't have to. stuart: 60-40, 70-30. 70-30. >> i'm 70-30. stuart: this is a case, sarah palin suing the new york times for defamation. she claims a recent editorial falsely portrayed her as responsible for inciting the 2011 shooting of gabby giffords. judge napolitano is here. does sarah palin have a case? >> you know, i normally would say no because she's a public figure and the high, very high bar for a public figure to

prevail is that she must show that the new york times was reckless in its concern for the truth or was aware of a falsehood and published it anyway. she has a case. because she actually has e-mails from the new york times in which they recognize that some of the things that they said about her were false. but yet, they were obliquely repeated anyway. stuart: so they knowingly repeated a falsehood. >> yes, and no. she can make that argument to the court. she will, what we say, survive a motion, meaning if they don't settle this case she's going to get to a jury. this goes back to when sarah palin was-- had a pac and identified certain congressional democrats as targets of the pac, and they improperly and crudely put a bulls eye over the congressional district. one of those congressional districts was gabby giffords who was merely murdered by this crazy person who killed a bunch of others, including a child

and a federal judge. at the time the new york times blamed sarah palin for inciting the violence that resulted in gabby griff fords attack by using the cross-hair logo. they reiterated that just two weeks ago. stuart: that's the problem. >> that's the basis for the lawsuit and reiterated after a lot of coming and going, hemming and hawing, is it right or isn't it right? she's got a case. stuart: i'm going to do an editorial, once the gft gives a benefit, it's ver virtually impossible to take it away. >> i fully agree with you. barack obama succeeded establishing as a basic premise the obligation of the federal government to provide for health care insurance or coverage that was never an assumed obligation by the federal government before he was president.

now very few exceptions. rand paul, mike lee, tom massey, very, very few reject that premise, even staunch conservative republicans are afraid to confront the electorate without some christmas tree ornament to give them. stuart: but if you did confront the electorate and say we're taking this away. you wouldn't have a vote. >> you'd be run out of the office. stuart: if you wouldn't have the vote, you don't have an agreement, you have obamacare and in come the democrats and give you obamacare. >> i reluctantly agree with you. stuart: the dentist visit is over. >> what about the novacaine wearing off. stuart: let's move on. video from britain, this looks like terror, a pedestrian hit by a city bus, shatters the bus's wind shield. look at that, look at that,

look at that! that looks like towerror, it's not. ashley: guess what he does? he gets up and goes to the pub. >> like any good englishman would. [laughter] >> isn't that amazing? hold on a second, minor injuries for the gentleman. the driver of the bus has been taken off the road we'll be pleased to hear. >> joined the guy in the pub. [laughter] >> facebook, two big stories, mark zuckerberg says facebook now have 2 billion monthly users. about a quarter of the world's population. the second one, made a deal to stream more than a dozen matches from europe's top soccer tournaments. the european cup, actually. ashley: the big one. stuart: they're going to stream it on facebook, can you believe that? >> big. stuart: that is big, you're right there, son. for the budget crisis in illinois, it's so bad that the state is suspending sales of

some lotto tickets. they don't have the cash to pay the winners. >> oh. stuart: another big hack attack hitting agents all across the world. and they've hacked files saved on computers. they tell the victims pay up if you want it back. that's called blackmail. senator rand paul not on board. will he be the senator who votes no and kills the whole thing? i'll ask him. more varney in a moment. can m. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

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>> a dire warning on health care. and it comes from a conservative. look at this, an opinion piece from hugh huey, a conservative and it's in today's washington post. it reads, and i quote, if g.o.p. senators blow this, say hello to single payer health care. that's a clear call to the republican party, get something done, agree or else.

and attached to the article is a picture of senator rand paul. one of the holdouts. senator paul is our guest this morning. good morning, senator, good to have you with us, sir. >> good morning. stuart: watching the news. i think that something, even an imperfect bill, is better than nothing. what say you, sir? >> you know, i think when you look at the bill, you have to measure it and analyze and say is it a repeal or a keep? is it keeping obamacare or repealing it, so, you know, if it's keeping it how could i possibly be for keeping obamacare, it keeps most of the subsidies, most of the regulations and it adds a new federal insurance company blalout of 130 billion dollars. tell me what part of that is conservative. stuart: okay, i'll tell you what's good much it. it gets rid of the taxes 21 of 22 they're gone. it kids rid of the individual mandate, gives us a degree of freedom, what coverage we wants and who pays for it and gets

rid of the employer mandate and takes an enormous restraint off the labor market, that is something. >> i guess problem-- >> isn't that better than nothing, senator? >> the problem is a lot of people are going to ask, myself included, is it honest to get rid of the taxes and continue the medicaid expansion forever? the medicaid expansion never goes away. realize when we voted 60 times to repeal obamacare, we voted to gradually end the subsidies and gradually end the medicaid expansion over a two-year period. that was our position over a year ago, now the position is we're keeping the subsidies forever. a brand new bailout for insurance companies. i'm horrified. the insurance companies make $15 billion a year and we're going to give them $130 billion of taxpayer money? it's obscene. what kind of a conservative notion is that? we could lower the price of cars, also, and have a car stabilization fund, a college stabilization fund, an iphone stabilization fund. it's insane, it's obscene to

say we're going to give rich companies taxpayer money. stuart: if you push it, and it becomes more conservative, you lose the moderates and you don't have 50 votes. >> well, we could remind the moderates they pledged to repeal obamacare, root and branch. and did remind them they said that about a million times. stuart: you won't have to votes. >> well, we'll see. you won't have the votes. >> no, that's-- no, that's the question. stuart: the question will be, is something better than nothing. >> if moderates want to go home to their state and say they kept obamacare, so be it. conservatives will go hole and say we pledge today repeal it and it won't repealed. i met with the president and told him i'm very much open to making the bill better and i think he is also. senate leadership has had no communication with any of us opposed to so much of the keeping of obamacare. stuart: if the republican party cannot agree after all the

negotiating, you can't agree, then we go back to where we are now, which is a collapsing obamacare system, mitch mcconnell goes to the democrats and he needs their help and you'll get obamacare on steroids. i keep coming back to it. something is better than nothing. >> i think you're presuming senate leadership, wants to really keep obamacare and i don't think that's true. i think they're working with a mix of people, but i don't really cast aspersions on the leadership saying they're going to go to democrats and keep obamacare. i don't think that's true at all. stuart: okay. >> i do think that health care is quite complicated and there's a great danger to owning it without fixing it. and so, i think that if you pass something that's not going to work, and we come up in about a year and premiums are rising at 25, 30%, still the insurance companies are dropping out of the individual market, i think what you're going to find, people will say why did we give republicans control of congress since they didn't know what they were doing. stuart: somewhere down the road there will be a vote and when

that vote will be counted will you be the senator that votes no and kills the whole thing? >> i would be the senator that would vote against keeping obamacare. the other senators can explain why they vote to keep obamacare. i'm not voting to keep it. there's going to have to be a repeal bill. this is what i pledged to the american people and conservatives pledged. if people go back on their word and keep obamacare, let them go home and explain it. stuart: senator rand paul, very much a man in the news. thank you, sir. we'll be back.

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>> well, if you've been watching this program you know there's a good deal of political turmoil in d.c., but it's not affecting the markets this morning. look at that, left-hand side of the screen. we're going up at the opening bell. look at this, latest big cyber attack. companies all over the world have been hit. second attack in less than two months. liz peek with us. number one, there's no way to stop this. number two, we don't know who is doing it. >> that makes it harder for sure. stuart: and-- >> next topic. but really, seriously, the problem is, that it has to come from the top, right? our government has been lazy and careless about cyber intrusions for years. i mean, going back to the

beginning of the obama time in office. he hired a cyber czar whose first words out of his mouth was we have no cyber problem. this is a problem and the truth is the government doesn't change pass words. they don't do anything. stuart: quite an enterprise, the companies. >> i agree, but they have tried to work with private enterprise and companies turn around and say, hey, you're not secure, how can we possibly turn our data over to you. this is a fact. and it's one of the reasons we haven't had a bigger cyber solution. liz: to liz's point, the trump found agencies in the government are working on y2k. what about the cyber attacks? >> we talk a lot about financial crises on this program. here is one for you, illinois the state has 800 million dollar worth of interest on unpaid bills. and now, they've suspended all

powerball and mega millions sales. ashley: yeah, that takes effect saturday so the last ticket gets sold tonight at 9 p.m. on the powerball, mega millions on friday. they are just in, so badly off, they can't pay their own utility bill in springfield. stuart: the capital of the state. >> isn't that supposed to be a money making venture selling lottery tickets, that doesn't make sense to me. liz: unbelievable. stuart: illinois faces this crisis because of unfunded pension liability to workers. ashley: estimated $250 billion. liz: with health in there, yes. stuart: liz, isn't connecticut in somewhat the same position. >> the same boat. i think over the next ten years we'll see a lot of blue states, in particular, facing exactly the same type of problems, unfunded pension liabilities and health liabilities that will cost current state residents tremendous amounts of money and pain. stuart: on that note. >> and happiness. stuart: check out the market and how it's going to open this morning. the financial crises all over

the place, and political turmoil. we'll be up 30-odd points. we're going to take you to wall street on the opening bell and the modest rally after this.

when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. >> all right. we've got what, 25 seconds to go before we ring that opening bell. and we'll start trading.

bear in mind, please, the dow yesterday was down close to 100 points and the big hits were taken by those five fabulous technology companies, okay? it was down. the fab five were down and in three seconds we'll see what's going to happen as of this wednesday morning. here we go, 9:30 off we go. change that one, please. we're up 68 points from the get-go. a solid move up. 72, 77, 84, 85. 21,400 there you have it. 93. it's like a horse race here. futures did not tell us that. ashley: no. >> is there something we don't know? something happen. stuart: i don't know, there you have it. we're up 90. 27 of the dow-- 28 of the dow 30 are in the green, that means they are up. and how about the nasdaq? huge hit taken yesterday. ashley: yes. stuart: what about the nasdaq,

up nearly 1/2 a percentage point. that's not a bad recovery. up 26. now look at the big five technology companies, where are they now? big declines yesterday for every single one of the five. this morning, a fractional move up for facebook, amazon's down. microsoft is down, alphabet up, apple, that's not much of a rebound. and by the way, the dow industrials are now up 105. yesterday's loss wiped out. that's how we're starting. ashley: in one minute. stuart: cyber security stocks, down yesterday following the big cyber attack. i guess people thought, well, you can't do much about it so we're selling your stock. a modest rebound now. how about the health insurers. remember, please, the senate delayed a vote on the g.o.p. health reform bill. all of them are up fractionally this morning. they'll think, molina is down a fraction, not much movement in the health insurance business now. who is going to help me get

through this, liz macdonald, ashley webster, elizabeth peek stays with us and shah gilani. i've got a bone to pick with you, galani. ashley: oh. stuart: we're about to see the second or third leg up for the dow industrials. where is it? >> it's coming. stuart: so is christmas. >> okay. that's a great analogy. kind of like christmas, there are presents under the tree, they haven't been opened. if we ever get anything in tax reform, even deregulation, that would be a plus for the market. the market is held up, it's gone up in spite of everything, the disappointments in washington. it wants to get higher. stuart: you're sticking with your prediction and you made it many, many times. >> that doesn't mean that we can't have pullbacks. investors want it take profits if they're nervous. something like cyber attacks could have more profit taking. generally speaking, the markets want to go and they will go up. stuart: we're at 21,400, that's

where we are. check again, the bick name technology stocks, all of them were down big, this morning they've come back and not that much. alphabet is down more. alphabet hit $1,000 a share and now it's at 933, 934. that's what you've got for the big tech companies. i want to bring you news, first of all, on facebook, very much in the news this morning. number one, the news is that zuckerberg now says they've got two billion monthly users, and, wait for it, facebook will live stream matches from europe's top soccer tournament. it's called the champions league. this is part of a new deal with fox sports. ash, back me up here, that's a big deal. ashley: the biggest soccer tournament in the world because it's the best teams in the european leagues going head to head and you have the world's best players in it. generally tremendous money, great viewership and a huge get for facebook. stuart: and streamed. liz: ash is totally right.

stuart: of course he's right, he's talking soccer. [laughter] >> look at the ad revenue coming in for facebook. two-thirds now is from video. it's from streaming. it's more than doubled over the last year or so, 2015. >> active users up 17% year over year, huge growth. the giant is giant scale and still growing. stuart: you've always liked facebook. >> the best social media company bar none. stuart: you'd buy it at 151. >> actually you would, it's scary up here, but it's been scary all the way up. every time i look at it it's scary, but keeps going higher. stuart: is it another amazon? >> oh, yes, absolutely, yes. >> that's why the tech groups continue to lead this market. when you have a setback, people are going to come in and buy the stocks because they're definable opportunities for growth. stuart: that's the growth. that's the point, isn't it? you've got an extra 17% daily users. >> active daily users. stuart: up 17% in one year and a quarter of the world's population checking at least

once a month. that's not bad. >> amazing. stuart: 151 on facebook as we speak. next case, apple. one analyst, just one of them says apple is going to sell, the number on your screen, 241.5 million iphones in the 12-months following release of iphone 8, following its launch. that will be a new record for apple. liz, your comment. liz: you sell like 2 million a year. that's kind of optimistic. they may have wireless charging, a glass back to it, a virtual touch button and augmented reality for the camera. i don't know if they hit that number, but it could be a hit. ashley: one people are waiting for, the first significant update in three years. a lot of people haven't been upgrading waiting for this moment. >> exactly why the sales will be very strong. people are holding back, replacing their phone until they see what the new one looks like and so there's a lot of pentup demand and by the way, else is a right now are not very good so it's kind of

pushed forward. stuart: you love facebook. do you love apple. >> we own and love it. we are never going to sell that. some point there's going to be a pullback on apple and that's a chance for anybody that doesn't own it to buy. this cycle with the iphone 8 i think the stock will make new highs and 20% higher just on iphone 8. stuart: what a day this is, i tell you. check the big board, where are we? we're up 110 points. the dow is back to 21,420. trying to do the math. only 120 points away from the all-time record high. not bad. with all of this is going on in washington, we've got that there and this here, it's hard to explain. where is the price of oil this morning? i tell you right now it's at $44 per barrel. here is the great news of the day, gas continues to fall, one cent per gallon per day. i'll take it! >> right as we go into the driving season. it's actually a very big deal there. stuart: it's a 12-year low for price of gas on july the 4th

holiday. 12-year low, i will take it. individual stocks, kb homes profits better than expected. it's up. general mills better profits than expected that stock is up 2 1/2%. monsanto, profits better than expected on wall street, it's up 1/2 percentage point, 117 monsanto. next case, i keep saying that, blue apron offers shares to the public for the first time tomorrow. now this, the company has drastically lowered the target price of which it will go off. how much is the reduction? >> they're expecting 15 to $17 range and they repriced it as of this morning between 10 and $11. that's a huge drop. stuart: why? >> part of it is the amazon effect. amazon buying whole foods, they're in the space and other competition there. they're losing money, they've never made money, blue apron doesn't make money and the costs of the users of the service has gone up. ashley: it's an interesting stat, more than 50%, over 50%

of people who subscribe to these meal kit services cancel their subscriptions within the first six months. you offer the discounts and freebies and then-- >> i just canceled mine. ashley: there you go. stuart: shah gilani cooks? a revelation. liz: that's why blue apron's marketing costs have nearly tripled over the last couple of years. to ash's point, people are canceling. stuart: i don't remember a priss cut like that, liz. >> that's the last thing the company wants to do as it issues new stock, lowering the offering. stuart: no profit. liz: since 2014 no profit. revenues doubled and customers-- >> they're trying to value the company at what. liz: they were going to raise more than 3 billion. they were estimating 5, 10 million, and now below 300 million and-- >> worst of all possible

business models, as you get bigger, you lose more money. that is kind of what's happening. it's not good. stuart: watch out, sports fans, here comes blue apron. the retail ice gauge. and auto is cutting jobs. anything more on this. ashley: as of february they had 74,000 workers, so 400 know the great for them, but it's not a huge cut, but points to the direction that you know, the retailers are going. >> 5,000 stores, you're going to have to cut back. and keep the stores open, but at some point you're going to have to cut back. part of the retail ice age. the stock has been in a bit of a freefall. stuart: i want to deal with the secyber attack. i'm guessing the market said, hey, we've got another attack

and you can't do to anything about it. >> normally something happens, they usually jumps up. it's unusual, it may be the reason. stuart: if you can't stop these attacks, then the cyber security companies-- >> are they held liable for something like this? if they own some of the products and they get hacked anyway or someone-- actually, i think it was a piece of software that this virus is attached to or that this opening was attached to. maybe that's a problem, too. stuart: a modest bounceback today for cyber security stocks. it's 9:40, we're ten minutes in the trading session and this time every day i have to thank our guests very much and show them the door. [laughter] >> and toss them. stuart: you were great. shah gilani, you're all right. thank you very much indeed. checking the big board, a gain of almost 100 points, 98 to be precise, look at the level,

21,408. a new way to get you threw security quicker, a new high-tech 3-d bag scanners, we'll tell you how they work. white house deputy press secretary sarah huckabee sanders blasting the liberal meeting yesterday at the press briefing, a fiery exchange there. we'll show it to you after this.

>> all right. we're back to almost 100 point gain. 21,406 is where we are. i want more on the american airlines plan to get you through security faster, scanning the bags, i believe. nicole, give me the pull story, please. nicole: the full technical term on this one is computed tomography. basically a ct scan of your bag.

you want to bring your liquids, your gel, your laptops in the years to come onto the plane. this may be the solution. right now, we know that american airlines is purchasing eight machines, $6 million from and analogic. they're testing them in phoenix. and this test will see and show whether or not this can actually work. in years past they had a difficult time with a similar type of this type of machine because it was very large, very costly and used an enormous amount of power, but now, as technology has blossomed, stuart, this may be the wave of the future. laptops are banned from several countries travelling to the united states. so, this should be something exciting for the future for travelers. >> learn airlines stocks is up a little bit. that's good news. nicole, thank you very much indeed. i have many so temporary beach front property for sale. i stress temporary.

okay? a new island has formed off the coast of north carolina, it's about a mile long, three football fields wide and experts say it's not that unusual for patches of land to emerge and quickly subside because of the rough waters. i'll take a piece of that. [laughter] >> for about six months. they say the land will almost certainly be underwater again in about a year, but we thought we'd show it to you in case you're interested. los angeles tallest sigh scraper west of the mississippi is wiltshire, 73 stories, a rooftop bar which claims the title of the highest open air bar in the entire western hemisphere, l.a., california. deputy press secretary sarah huckabee sanders slammed the media and fake news, that's what she called fake news during a press briefing yesterday. roll tape. >> if the media can't be trusted to report the news then that's a dangerous place for america.

>> any one of us, are replaceable and any one of us, if we don't get a right, the audience has the opportunity to turn the channel or not read us. >> i think-- >> you have been elected to serve for four years at least, there's no option other than that. we're here to ask you questions. >> right. >> you're here to provide the answers and what you just said was inflammatory. >> i disagree completely, first of all, i think if anything has been inflamed, it's the dishonesty that often takes place by the news media. and i think it is outrageous for you to accuse me of inflaming a story when i was simply trying to respond to his question. stuart: let's get more on this. fox news contributor mercedes schlapp. neither side is backing down. this is going on for the next four years. >> absolutely, this is like world war iii of the media versus donald trump. and i have to tell you, emotions are high on both sides and there's this great event that happens every year in washington called the white house correspondent's dinner,

which i attended in a small hidden table there and let me tell you, media and those media elites, they are pumped up, they have a very narrative that-- a specific narrative they're trying to push, comparing donald trump to president richard nixon, talking about impeachment. this is the mindset of many of those sort in the mainstream media and i think it's very problematic. i think when you're seeing the harvard study that came out basically saying that cnn's coverage of trump is negative 93% of the coverage is negative in regards to donald trump, it's very troubling. you have to ask yourself. where is the objectivity in this process? >> i find it unwatchable, mercedes. unwatchable. i was a founder of cnn myself and lou dobbs way back men, founders, and look what's happened to cnn. i can't watch it. >> it's coming from the top down. you have the top media

executives at cnn very much pushing the story, especially on the russia-trump collusion. it's where they spend the majority of their time and the research center came out with the study basically saying that most, you're talking over 50% of the news coverage is on the russia-trump, possible collusion, which is as we know is not a story. i think for the american viewer out there, it's frustrating. stuart: yes, it is. >> the local communities say i want to talk about jobs. i want to talk about how i get better health care. and the focus has been on the russia story and creating these, in many cases, reports that aren't accurate. stuart: mercedes, i've got to break in for a second because you have frequently told us that i should chill out. you know, i've been pounding the table and i'm still saying it, still pounding the table, i'm saying on health care reform, something, anything is better than nothing. and it looks to me at this moment like we're going to get

nothing. >> well, guess what? i think you and mitch mcconnell actually could agree. i think he realizes that the stakes are high, that at this point they really need to get something done and mitch mcconnell is betting on his caucus. he's betting on figuring out a way to get the conservatives and moderates in line. stuart: he hasn't got rand paul. >> he won't get rand paul. stuart: he was on the program 40 minutes ago and i said when push comes to shove when votes are counted are you going to be the senator who says no and kills the whole thing? he responded said, i will not vote in favor unless it's the full repeal of obamacare. >> right. so rand paul is living in "la la land" because we know we can't have the full repeal of obamacare, based on the frame work that we have in front of us a limited frame work. talking budget reconciliation, we're talking you can't make significant legislative changes because you'd guess to what,

pass a law. what do you need to pass a law 60 votes. the republicans don't have it. and phase two, secretary tom price would have authority to make administrative changes as well to obamacare. unfortunately, while we can't make a full repeal you could ask for better options in terms of our health care. they are providing states nor flexibility, more funding and they need to figure out a way to slow the growth of medicaid. i mean, seriously, stuart, are you at a point that medicaid is the gold standard for americans? that's where they want to end up? >> i'm pleased to see that mercedes is starting to pound the table like stuart varney. you've got to chill out. come on. >> i don't know if i can. i'm becoming stuart varney in my own way. stuart: mercedes thank you very much. >> thank you. stuart: check that dow 30, the state of the market, 28 in the green, two in the red and the dow is up 93. two families blaming the suicides of their children on a hit netflix series.

details on that after this. ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪

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>> well, this is just coming at us. president trump's going after amazon, here is the tweet. the hash tag amazon washington post sometimes referred to as the guardian of amazon, not

paying internet taxes, which they should. is fake news. jeff bezos owns a big chunk of amazon, he owns "the washington post," principal opponent of president trump and now president trump is responding and the stock is down, six bucks lower, 969 on amazon. two families in california blame the popular netflix series "13 reasons why" for the suicide of two teens. tracy, the full story, please. >> the families say this show acted as a trigger for these teens to commit suicide after watching the show. one family is saying the show only gives one alternative. it doesn't give anything else for teens to go on as far as suicide. the show has been renewed for a second season. the families don't want netflix to go through with the second season, they're saying that netflix is basically playing on

teens' misery. stuart: so they're not suing? >> they're not suing, no. stuart: they can't establish cause and effect, the link is difficult. what they're saying is, don't do the second series, enough is enough, that's it. >> they're saying you've already put it out there. there's nothing more you can do. stuart: big on social media? >> oh, absolutely. teens are watching this, they're binge watching the show. >> it's bad. >> netflix put a warning on the series after getting complaints, it's too graphic. stuart: what do they expect? >> i think it's an odd subject to put in this binge type of environment where you can totally immerse yourself in a story that's questionable. liz: we're supposed to be fighting teen suicide, and not glorifying it. it's a gory suicide scene. stuart: as it stands now, the republicans cannot agree on herman cain reform, but when it comes to replacing collapsing obamacare, in my opinion, something, virtually anything, is better than nothing.

that's my opinion. you'll hear more on that in just a moment.

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stuart: when it comes to healthcare reform, surely something is better than nothing. there is a stark choice facing the republican party. if you fail to agree, if there is no deal, you will open the door to the democrats. senator schumer will give us obamacare on steroids. that is what will happen. here is how things stand now. republicans cannot agree. a vote that was supposed to come this week has been pushed to next month. nine republican senators are holdouts. meanwhile obamacare is collapsing. health insurance for millions are unavailable as an affordable price and that means our leaders have to step in with a 6. if the republicans can't do it,

mitch mcconnell says he will bring in the democrats. that means the fix will be even more of them and care than we have now. that is why i say something from the republicans is better than nothing. i see a rising sense of despair, the senate plan repeals obamacare, taxes and mandates and for many lowers premiums, that is something. the republicans cannot agree on it. if a division continues we the people are stuck with a collapsing system and the likelihood of even worse to come. the republican party will be stuck with failure, failure to govern, failure to support the president's growth agenda, failure to meet the promises they made. something is better than nothing. the second hour of "varney and company" is about to begin.

>> i met with the president yesterday, i told him i am open to making the bill better. i think he is also. senate leadership had no communication with any of us, the keeping of obamacare. stuart: senator rand paul on this program, senators opposed to reform say no more obamacare, more on that in a moment. game of 103 points, 23,413, yesterday's loss wiped out the first half hours this morning, check the big tech stocks that were down yesterday, down, facebook, amazon, alphabet, apple, all of them down, not that much but down. streaming live championship soccer from europe, a very big

streaming deal, for the best soccer in the world and facebook stock is down despite that news. the stock is still down. my take, my opinion piece, i say something is better than nothing. years donald trump's tough economic advisor gary cohen, role tape. >> the president talks about himself as a dealmaker, this is another deal, talking to the group right now, trying to create a consensus and drive to a bill -- >> charles heard with us this morning right here in new york. the premise of my editorial, something is better than nothing. >> in a large sense i agree but in a lot of ways the train left the station. republicans should have had a free market plan in place all those times they revealed obamacare when obama was in the white house but the problem is

what they are doing now is obamacare lights, it is government run medicine and this is where i push back a little bit. stuart: the plan still gets rid of all the taxes, the mandates on individuals, the mandates on employers, they are gone. that is the guts of obamacare. >> no doubt there is a lot to do with the house bill and the senate bill. the problem is it is still going to be government run healthcare. it is going to be hung on republicans. if you don't like the post office you don't like healthcare impressions by the government. this is the other side of your point. if they don't do it, we are going to revert to obamacare and in the next election republicans can still run against obamacare. stuart: republicans promised to fix it. if they don't fix it they really

do own its collapse. >> do you trust the donald trump won't figure out how to pin that on democrats? instead of fixing the mess they made are sitting on the steps of the capital protesting. they look like ridiculous recalcitrant children and republicans are at least trying to fix the mess they made. stuart: i am not sure if it will work like that. the media 100% with a few obvious exceptions is going to say you can't fix it, you own it. >> i agree with you 100%. you can't rely on the media to handle it fairly. stuart: charles hurt opposes me on my own program when i say something is better than nothing, stay there. back to you shortly. the house is expected to vote on case law this week, that is the bill named after kate steinle who was shot and killed by an

illegal immigrant. the bill would impose mandatory prison sentences on criminal aliens who try to reenter the country after they have been deported. republican from texas joins us now. i can't understand why there would be opposition, do you think it will sail through clearly? >> we are hoping so. this is a great start for a terrible problem afflicting the american people. i land to support it. as i said it is a great start, it is not mandatory minimums, there are maximums and i would like to see a tougher bill, i will support this thing, i guarantee you that, something greatly needed as the law requires, has to do with the murder of kate steinle by 5 time deported criminal alien, just got to be enacted.

i hope our colleagues across the aisle will support this. stuart: you are treading on the immigration issue, treading heavily on illegal immigrants and what to do with them. you are going to get opposition. the left will oppose that. >> it is a mystery to me how elected officials can be more open to helping illegal criminal aliens vans they are concerned with the safety and health and security of their own citizens. it is amazing to me this could be a possibility but it is, nevertheless that is the way the left works and that pivots right into being able to deport these people because the murder of kate steinle would be deported five times. this would get me to another

thing, the criminal alien deportation bill that i introduced almost two years ago which would -- if a country would not repatriate their criminals from the united states we could cut off their visa program, their foreign aid because we also have another young lady named casey chadwick murdered by a criminal alien who had been released from prison in the united states from haiti and within a year he had murdered casey chadwick from connecticut, we had tried to deport this criminal alien three times to his native haiti and refused to take him. we simply turn him loose on the streets rather than we could have cut off their foreign aid, given over $1 billion to haiti and this would have kept this young lady alive and she would

not have been murdered. stuart: you make a strong case. the bill comes up for a vote this weekend we will be following closely. thanks for joining us. back to charles heard. congressman keith ellison, democrat minnesota, he says donald trump is inciting violence with trump's rhetoric. >> i believe the rhetoric of the president is fueling the ugliest, most pernicious elements of our society. he is green lighting ugly and hate and some of these folks are getting aggressive. we know what happened in portland a few weeks ago. stuart: he blames the portland attack on donald trump's rhetoric. >> what i call the donald trump derangement syndrome, the media and on the left have -- lose all sense of reality and just art making things up and start talking about things and this

stems from the shooting of steve scalise in alexandria by a bernie sanders supporter targeting republicans, the ideas that your hatred or dislike of the president for some reason you are allowed to respond to that with violence is donald trump's fault, all that does is feeds into the horrific cycle. stuart: do you think the public buys that line? the rhetoric from trump is as damaging as the rhetoric from the left? >> like cbs saying self-inflicted would happen. he is wrong. stuart: people get classified about this stuff. most of this country they laugh it off, got to be honest. >> people like ellison are praying -- they are going to -- >> both sides have to tone down the rhetoric, both sides. stuart: i think the rhetoric is more extreme from the left.

far more examples -- from the left than the right, far more. >> absolutely but it doesn't seem like that because the media seizes on any thing that happens on the trump side. stuart: always the case. you are all right, thanks for joining us in new york, check this out, this is known as the oscar meyer wiener drone. hotdog shaped delivery drone will get its public debut july 4th in arkansas, good fly 15 minutes carrying one hotdog. we cover it all. the cyberattack, the hacker getting a wide range of companies, 64 countries leads to computers being locked and data held for ransom. all over that story too. congressman kevin brady joins us later this hour pushing tax reform. i'm going to ask him can he get full-scale reform or just a cut

in some taxes? the second hour of "varney and company" you are watching. ♪ looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

stuart: the question is what is leading the rally, it is up again today. the prospects of dodd-frank reform are getting better, maybe that is why. the financials are up. now this, worldwide ran somewhere attacks. companies like merck, their computers hacked, their information locked up, hackers demand money to release the information to get the computer system up and running again. cyberattacks inflicting great harm on america from both the

national security and economic standpoint. there is nothing you can do about it. we don't have any way of stopping this, >> there is no magic bullet. and it looks like it was traced to an outfit to north korea, developed a -- and encryption device. the united states, the research laboratory, and what is -- >> how is it north korea, whose

people are reading grass because they are starving should come up with quantum mechanical computer security? >> the chinese have been doing this, and the tools used by hackers in the worldwide cyber attacks, both of them, >> at the very top of things, this is not been a priority on them. the air force and this have been at the forefront. we have to support them. one of the things, and donald trump in his recent executive order place a real priority on

workforce development in the cyber realm. >> what exactly is quantum computing when it comes to securing encoding, explain it. >> it is faster than we know it, random number generation, back to my old favorite movie the imitation game, when the nazis were changing the code once every 24 hours, what if you change it once every couple seconds? that is what many people believe, if we can perfect this, is the most secure type of computing and very tough, almost impossible to hack. stuart: don't we have the best mathematicians and computer people in the world bar none? >> they don't talk to one another. in a congressional hearing, jay

johnson, the department of homeland security and the fbi did not communicate for months after a hack against one of our major political parties, there's a lot to be done, this president has inherited a mess. stuart: thanks for joining us this morning even if was to outline a severe problem. facebook inking a deal with fox sports, they are going to stream more than a dozen matches from the top soccer championships, the champions league tournament. this is a big deal because we know about it. not necessarily -- the best kind of guy. we will be back. ♪ show me a bit of loving ♪ make it all right ♪ need a little sleeping in the night ♪

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stuart: look at apple stock, almost unchanged despite one analyst saying they are going to sell 241.5 million iphones in 12 months following the release of the iphone 8 launch later this year. $241 million would be a record when your sale for the iphone. stocks almost unmoved. blue apron for the delivery service, will sell shares to the public for the first time tomorrow but here is the dramatic news, they lowered the operation. liz: they expect to raise a little shy of $3 million versus $510 million bringing the computed situation below $3 billion so what is going on?

amazon whole foods competition, haven't made a profit since 2014. stuart: i have a story on facebook, teaming up with fox to stream soccer, specifically the european championship league. a big deal to anyone who knows anything about soccer. let's bring in lauren simonetti. >> anyone who knows anything about soccer, it is the most followed sport on facebook and christianoh rinaldo who won the championship league earlier this year, i am impressing you, the most liked person in the entire world on facebook. fox sports says this is where the eyeballs are. we link a deal with the championships league on site. that is facebook. stuart: live streaming european soccer. never thought i would see that coming. >> there is an effort to do that as well.

stuart: let's bring ashley into this. you follow it more closely than i do. >> you can only watch soccer on spanish channel tv. it has gone leaps and bounds and i feel it is picking up steam in the us and the mls is growing as well. stuart: i am sure you know this, the european champions league is a contest between club signs, different from the world cup which is a contest between countries. if i would have to guess i would say it is only marginally better watched by the european champions league. >> i did not know that but pretty sure i know this, facebook has 2 billion users. a little over 3 billion users or people with internet on the planet. two of those three billion people are on facebook.

isn't that unbelievable? when you put youtube, snapchat together. stuart: the biggest soccer games in the world bar none. you know what you are talking about. coming up the senate health votes didn't delay, if republicans can't agree mitch mcconnell says he will have to bring in senator schumer and the democrats and what would president reagan do in this situation, more varney after this. ♪

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stuart: we have a solid gain for the dow industrials putting the dow industrial average above 21,415, and and how much is in storage, what is the number? >> up $118,000, looking for a drawdown of $2.59 million less barrels, it is the prize bill. once the action in oil prices touching a 10 month low, looking for the third straight weekly drop, this means opec can't do anything with cuts in oil production. and some say 2005 lows. stuart: why isn't the price of

oil -- stuart: it is a minor bill but there is more oil and storage. what did you say, what is that again? a larger than expected drawdown using more gasoline, pulling more storage, this is gasoline as expected. >> demand goes up when it is cheap. it is cheap. 10 year lows. and the price of oil is now down. and you are barely holding on to $4 a barrel. we still have a rally of 107 points, look at the big tech companies. all of them were down yesterday, most of them are down again today. apple is the only exception and

that is up a mere $.48. money, now politics. the senate health vote delayed until next month. if republicans can't agree, leader mcconnell says he will bring in the democrats, senator schumer, negotiate a fix for obamacare with them. that would mean a lot more socialized medicine. this man is vice president penn's's press secretary. conservatives hugh hewitt, if republicans fail, we end up with single-payer. what say you? >> that is where the democrats want to go, something they talked about recently and even the obamacare original discussion that was their ultimate goal. when we get beyond discussions of single-payer and democrats and republicans, at the end of the day the american people are suffering under obamacare, they are the victims. stuart: forgive me for this but

if we don't get an agreement among the republicans, if there was no agreement, no vote on whatever they come up with, a no vote, we are stuck with obamacare, stuck with a democrat solution that would be worse than what we have got. >> of the record has shown obamacare is collapsing in front of our eyes so you will see republicans come together, this is the legislative process designed to work with the house vote, and coming together under the leadership of donald trump. they are working on moving forward. stuart: when i was on the air yesterday there were six republican holdouts. as of now, there are nine republican holdout, they are not coming together, they are moving farther apart. when they go back to their constituencies they will get an

earful from lobbyists on both sides and coming together will be more difficult. stuart: as the vote is developed you will see members that are going to influence negotiations, try to work in their ideas and plans but at the end of the day, too many people suffering under it, earlier this week, met with a dozen people, her obamacare, doctors wouldn't take the obamacare card, that is a problem and just because you have an obamacare card in your wallet doesn't mean you have insurance. it is going to be -- to work out a plan that will get the votes we need. stuart: last one, my editorial at the top of the hour. i will repeat it. in my opinion, something is better than nothing and you say?

>> the president and republican leaders on both sides on capitol hill are working to get this done right. we want to make sure it lowers premiums, provides greater access, the access to the coverage they need. we are in the system right now. it is collapsing, we have to do it right and that is what we see with a couple weeks here and there, happened in the house and the senate but at the end is a republicans on capitol hill put a bill on donald trump's desk that will repeal and replace obamacare, and choice to the american people. stuart: you are in a tough position but thanks for coming on this show this morning. i personally would like to know what president reagan would do if he had to fix healthcare, if he had to get stuck into this

negotiation. why don't we ask the author of the book the working-class republican, ronald reagan and the return of blue collar conservatism. the author's name is henry olson and he is with us now. back in the 1980s i do recall the 1986 tax reform act preceded by a long period of intense negotiation. what would he do now? >> ronald reagan would set the terms of debate and be flexible about what gave a more of what he wanted. we when he would go for 80% of what he wanted on the grounds you are not going to get to perfection. >> to criticize people he called ultras who would jump off the cliff with flags flying rather than take half a loaf and come back and negotiate for more. tax reform is a perfect example, he set a standard, let the process worked and turned lower rated bigger tax cuts when he started the process in january 1985. stuart: in your assessment is

donald trump as good at that as ronald reagan was? >> no. the president has been letting congress dictate details of policies, setting out specific enough terms about what he wants to see and these members are shooting at a moving target, trying to say i would like it to look like this but they don't know what it really was. that is what he needs to do. stuart: he had two years of negotiating before he got to the 1986 tax reform, the big tax reform. >> reagan set out his ideas in 1985, at the end of summer. stuart: do you think republicans get to an agreement? on november 8th i think it was? don't have that much time, 7 or 8 months. >> the president would find more agreement if he would put clear agreements. and leaders work around that rather than letting 52 republican senators and house

members try to set those principles by consent. stuart: the working-class republican and ronald reagan and the return of blue-collar conservatives, that is the premise of the book, i think donald trump realigned the republican party and brought in working-class republicans in the republican party. >> he did, that is the main thesis of my book, reagan in the 80s brought working-class democrats under the republican party by talking a different language and donald trump did the same thing using different issues but the same appeal to the working-class values, i got your back and government will serve your interests and exactly the same thing. stuart: the negotiator is ronald reagan. >> ronald reagan learned his political bills in california where he made a lot of mistakes. stuart: well said, thanks for joining us. now says, donald trump calling

out cnn for their coverage of russia and the election, quote, say canoes cnn is looking dead big management changes now that they got caught falsely pushing their own russian story, ratings way down. press secretary sarah huckabee sanders asked about it during a briefing, let's listen. >> multiple other instances where the outlet you referenced has been repeatedly wrong. it is a disgrace to all of media, all of journalism. of the media can't be trusted to report the news that is a dangerous place for america and certain outlets going particularly for the purpose of spiking ratings and if that is coming directly from the top, that is even more scary and more disgraceful. that is not the direction we are

headed. >> the first to call the media on it. he will go after anybody. and after that clip a reporter in the back of the room took her to task, really bizarre. stuart: he works for playboy, that guy standing in the back of the room. >> very strange, his complaint with you are not allowed to complain about the media because you are elected. it made no sense. i saw her and the president for calling the media on this stuff has been going on for a long time and high time that people get called out for it. stuart: thanks for being with us, thank you. i have some temporary beachfront

property available. new island formed off the coast of north carolina. a mile long, 3 football fields wide but it will shortly disappear. temporary beachfront property. congressman kevin brady, washington is the laser focused on tax reform. he will join us after this.

>> shah gilani says the market wants to move higher despite the turmoil in dc. role tape. stuart: we are about to see the second or third leg up for the dow industrials. where is it? >> coming. stuart: so is christmas. kind of like christmas there are presents under the tree, they just haven't been opened. there will be a deregulation for the market. >> are you sticking with your prediction.

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♪ stuart: big cyber attack around the world yesterday and cyber security stocks fell. this morning a tiny rebound for some of them. they fell because people feel pain. you can't keep me safe. you can't keep my computer safe. not much change today despite the fact the dow is up 140 points, a rally and a half less than an hour into the trading session. breaking news, this is important, donald trump has accepted an invitation to attend

best deal day celebrations in paris, france on july 14th that is just coming at us, no more details on this, why the president wanted to go and why he is going to friends other than bastille day was the anniversary of the niece attack. he is going there on that occasion. yesterday, senate majority leader mitch mcconnell announced there will be a delay on the vote on the healthcare until after the july 4th recess pushing it into july. next guest says republicans are focused like a laser on tax cuts. joining us now house ways and means committee chair congressman kevin brady, he writes the tax code. welcome to the program. >> thanks for having me back. stuart: you are focused on tax cuts. you slams down the big reform proposal and what you can get will be tax cuts.

have i got it right? >> no, you don't. tax cuts alone won't make you competitive or drive more jobs in our direction. and our goal is to leapfrog america from 31st in the world on tax code competitiveness in the top three and we have to redesign the way we do it. >> the healthcare into july, the huge reform proposal. >> thankfully ways and means committee republicans have been working towards this moment in history to do tax reform, working closely with donald trump in the senate, a single

unified tax reform, redesign of the way we tax a fair simple progrowth way. in 2017 i haven't seen anything yet knocking us off this timetable but we had a lot of work to do, no question about it but we continue on that timetable. stuart: working day and night on healthcare reform. it has been 6, 7 months since the president won the election on november 8th. we do not have agreement on health reform. we have disagreement widening by nine senators who are not on board with the reform plan. why do you say we can get to full-scale tax reform by this year when we have got such a limited time left? >> i am disagreeing with you on everything today. healthcare reform has big impacts.

the senate is going through surprises, making sure we have all the bases on affordability, restoring the free market, returning control for washington. it is good, for the tax reform. and not letting anything distract us from what we have to deliver this year unfolds, permanent tax reform. stuart: can i say what i think are the priorities? this is my opinion. cut the corporate tax rate to make us competitive around the world, cut the tax rate applied to small business operators who file under subchapter s. very important for small business and growth. cut the tax rate on individuals, very important to get money back into people's pockets back into the economy. those surely are the three

priorities, are they? >> they are. probably a fourth, in the sense that giving our businesses full and unlimited expense to building off of new investment and build equipment software technology, the inventory is half of the economic growth on tax reform so we are going bold in that regard as well but those are the priorities as well. stuart: why have a bill that says those three things or four things, that is it, just do it. >> >> that is a high priority for them, companies that are competing worldwide, bringing earnings back to reinvest in the united states. in those priorities several iterations that are equally progrowth in this. we are focused on the biggest

boldest growth we can get. stuart: congressman kevin brady writes the tax code. coming up the senate passes the buck when it comes to health care. one of the nine senators who is against it, rand paul, with me. more on that interview in a moment. welcome to holiday inn! ♪ ♪ whether for big meetings or little getaways, there are always smiles ahead at holiday inn.

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stuart: a dire warning on healthcare from a conservative. look at this. an opinion piece from hugh hewitt, a conservative in today's washington post reads, quote, if gop senators blow this, say hello to single-payer health care, a clear call to the republican party, get something done, agree or else. a picture of senator rand paul, one of the holdouts. senator paul is our guest this morning. you are very much in the news. stuart: i think something, even an imperfect bill is better than nothing. what say you? >> when you look at the bill you have to measure it and analyze, is it repeal or keep? keeping obamacare and repealing it? if it is keeping it, how could

it possibly be for keeping obamacare, it keeps most of the regulation, a new federal insurance company bail out of $130 billion, tell me what that is conservative. stuart: i will tell you what it is good about it, 21 of 22, it gets rid of the individual mandate giving a freedom about what coverage we want and who pays for it and the employer mandate that takes an enormous -- on the labor market. isn't that better than nothing? >> the problem a lot of people ask, myself included, is it honest to get rid of the taxes and continue medicaid expansion forever? medicaid expansion never goes away. realize when we voted 60 times to repeal obamacare we voted to gradually end the subsidies and end the medicaid expansion over a two year period. that was our position only a year ago.

now our position is keeping subsidies together and a new bailout fund for insurance companies. i am horrified. insurance companies make $15 billion a year, we are going to give them $130 billion of taxpayer money, it is obscene.

. . . .

stuart: once the government gives something, it's the devil's own job to take it away. even chipping away or reforming a government benefit is next to impossible. that's exactly what is happening right now with health care. obamacare vastly increased government care through medicaid, even slowing the rate of growth in medicaid brings charges of killing hundreds of thousands of people according to nancy pelosi. medicaid is not being taken away. it is not even being cut. but even the suggestion of slowing its growth brings out extreme demagoguery. couple years ago republicans insisted on a minor adjustment to the food stamp program.

you're starving children, said the democrats. so we still have over40 million americans on food stamps. what's going on? seems to me like america is on a slow march towards european style socialism. it doesn't matter that europe is broke, mired for two generations in slow growth and very high unemployment. no, no. that doesn't matter. to the left europe is paradise. let's be more like them. if you try to make us less like europe, try to roll back the cradle to grave, unaffordable, unsustainable european welfare system you will be demagogued to death. we have yet to see a significant welfare program canceled, reined in or reformed. the current health care debate exposes that central truth in america today. once the government gives something, it is next to impossible to take it away. the third hour of "varney & company" is about to begin. ♪

stuart: 91 minutes into the trading session that. that is a rally. up 127, 128 points. that wipes out all of yesterday's losses. look at the nasdaq. it is up today, big-time negative yesterday. it is still by the way negative for the month, but that is a nice gain, up nearly 1% as of right now. health insurers, are they bouncing back after yesterday's delayed health reform vote? yes, they are. up just a fraction on all of them, but all of them are up. let me get back to the little editorial that i gave at the top of the hour. i say, i will say it again, once the government gives you something it is nearly impossible to take it away. let's get reaction from herb london, at the london center for policy research. john lonski, moody's economist.

herb, to you first. >> you stated it very effectively. milton friedman once said there is nothing more permanent in american life than a temporary government action. stuart: right. >> no doubt what you have in the united states today is the europeanization of our politics. if you have a social program, you can not roll back. it has to remain in place. and you also have to look at the rhetoric that is employed. hillary clinton said after the senate proposal, nothing more than a proposal on health care, that the republican party is the death party. that was the words she used. stuart: demagoguery. >> of course it is demagoguery. what it means in effect the republicans are not eliminating medicaid as she suggested. they're cutting back on increase. stuart: john lonski, economically this is very bad news, because the welfare state continues to grow, eats up a huge chunk of our gdp, no ability to put it back, a problem for the economy over

long term. >> it will go on until it finally breaks the back of the u.s. economy in a manner comparable what happened to brees. p unfortunately difficult to stop for the political reasons outlined. stuart: we're not there yet. >> right now we have u.s. government debt at 77% of gdp. that is the highest ratio during a recovery in recent memory. usually it is no higher than 35% of gdp. this is why you have a big fight over health care because there is really no way of funding it, funding it to the extent giving people programs they want. you want it, fund health care, expand the tax base. you want to expand the tax base? expand the definition of sin taxes. go beyond alcohol and tobacco, look at sugar and salt. liz: president obama, under obamacare, more able-bodied working people went on medicaid. we've never seen that in the history of the country to that

degree. now estimated one in four, one in five people on medicaid? it is for the poor. it is for the disabled. it is not for those to get a job. mick mulvaney is right, best thing for the poor, get them a job. this is fallout of obama economy. stuart: half the babies born in america today, born under medicaid. ashley: 50%. liz: even fdr said it is narcotic. stuart: you can't roll it back. heritage foundation, says delaying reform, health care or tax reform, delaying it, cost america 2 to $5 billion a day. that translates 1000 jobs we're not hiding or creating. go. >> private sector jobs growth is slowing down. it will slow even further until these an certainties that surround corporate tax reform, especially let's say treatment of capital spending are resolved.

stuart: herb, go ahead. >> well businesses in the united states very often depend on a certain kind of certainty in the future. the difficulty we have here of the an certaintyies that have come about because of delay in health care. you get a health care bill passed in the united states at this moment, he it is adrenaline shot to the economy. you start to see dramatic growth and job creation. stuart: handicap it what chances of success? >> i think it will happen. again notwithstanding. stuart: investors don't mind slowing of agenda. that is called a rally. dow gained back all losses from yesterday and then some. so herb, to you again, this is again is the divorce between political turmoil and what is going on with your money. >> that is exactly right. again part of difficulty in the united states is that political

turmoil has a dramatic effect on one's money. people don't often understand the relationship between the two. there is no doubt we started to see reforms that are necessary, tax reform, as well as reform in health care, this will have a very important effect on the national economy. stuart: would you like to go to washington and tell them that please. >> i do go to washington and i do say that. stuart: get down there and say i had loudly. now we have this president trump going after one of it is principle critics. here is the tweet. #amazon-"washington post," sometimes referred to as guardian of amazon not paying their taxes which they should is fake news. john, get background here. jeff bezos owns "the washington post." he is the principal founder of amazon a very wealthy guy. jeff bezos through "the washington post" is a gigantic opponent of president trump. he trashes him daily. now the president is going after him. you say? >> you know, as a matter of

principle i don't like the idea of ceo's taking stands on political issues. i doesn't think that helps the company. it doesn't help the shareholders interest any as a starting point and there is this problem where you can go head paying business sales tax buying through internet or through mail. that was -- stuart: that is from president trump. to go after it. watch out. >> watch out. i mean be careful what you're stating, what you're, as a shareholder i don't like that. now i'm afraid that trump will go after amazon, who knows, that may harm their profitability. stuart: for some time we've been saying these big tech companies, amazon especially, have become so powerful, so well he think, time for a political response to rein them in. liz: amazon forwards sales taxes to the state. they do that. >> that is important point. stuart: should remember that, got it. john, thank you very much, indeed.

fine performance today. now this, for you, herb, ransomware attack, second hit yet. hit companies across the globe. as i said it is the second major attack in less than two months. herb, we don't know who is doing it. we have no way of protecting our computers from it. we're in a mess. >> we're in a mess. this is ran someware. sometimes described as "wannacry." i do want to cry every time i look at this. they're trying to collect $300, every party, every person that wants to rectify the situation, $300. it's a ransom program. there is no question we have no idea who is responsible. we have no idea how far this is going. we have no idea when this will end. so this is a very significant problem. stuart: we don't know what to do about it. >> exactly. stuart: herb, thank you very much indeed. >> always a pleasure. stuart: thank you. individual stocks making news and moving. start with kb homes. their profits were better than expected and the stock is up now

3 1/2%, nice gain, 23 bucks for kb home. general mills very much the same story, posting high every profits, and that stock is up nearly 2%. how about monsanto? profits came in better than the expectations and that stock is up for a 1% gain. $118. a lot more from you ahead, eric bolling from fox news, "the specialists." he has a new book about health care. he joins us later. we'll fight it out. he is bigger than me. coming up this man, he was one of only a few people in the entire military at the time with the authority to select terrorist targets and issue death orders. that man is with us, on this program, later this hour. deputy press secretary sarah huckabee sanders sounding off on

cnn and other media outlets at the press briefing. martha maccallum on that next. ♪ [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

stuart: there was a surprise in increase the in amount of oil we've got in storage. in other words supply went up but so did the price. that is unusual. in fact oil has been up every single day since it hit a 10-month low price late last week. however, having said all that the price of gas keeps coming down. we're averaging one pen any down per day per gallon. average, 2.24. my prediction is looking good. as of now five states averaging below $2 a gallon.

south carolina, alabama, oklahoma, missouri. one more to go. i believe six states will be down 2 bucks. i will win. liz: road trip for stuart. stuart: road trip. now this. sarah huckabee sanders sounding off on cnn and other media outlets at the press briefing yesterday. >> there are multiple other instances that out let you referenced has been repeatedly wrong. it is a disgrace to all of media, to all of journalism. if the media can't be trusted to report the news, then that is dangerous place for america. and i think if that is the place certain outlets are going, particularly for the purpose of spiking ratings, if that is coming directly from the top, i think that is even more scary. certainly more disgraceful. i hope that is not the direction we're headed. stuart: strong stuff. with us now, host of "the story" on fox news, martha maccallum. good to see you.

>> good to see you, stuart. stuart: sarah huckabee sanders is playing hardball. the press responding in kind. this is standoff. i don't see it ending. >> those are strong words. that is strong statement. if we live in a america where we can't trust the press, that is dangerous situation. this country was built in a free he and fair press. we've seen deterioration of confidence in meet-yard outlets across the country. the latest episode by cnn, latest notch in that. it's a dangerous place to be. i think it is something we all need to it take very seriously. we need to, as we always have here, continually double-check our sources. it is not important to be first. it is important to be right. when you make a mistake you have to get out in front of it, explain what happened to your viewers. your credibility is all you have in this business, right? stuart: yes. i think the media lost average credibility with the media in the united states.

i don't think the media is trusted. >> i think it bleeds into polling. there is general distrust of people telling you what to think, asking you in some cases with polling what you think. i think it is very unnerving time to be in this country. stuart: you have a sense of unease. >> you do. things like this contribute to it in a big way. stuart: last night on your show you had president trump's chief economic advisor, gary cohn. he was on the show, on your show. he was talking about tax reform and the timeline. for the benefit of our viewers now roll tape. >> we definitely want to get to tax reform sooner than eventually. the sooner we get to tax reform the better. our objective is to get to tax reform right after the august recess. stuart: those are comforting words. we had kevin brady, who chairs the house ways and means committee, he was on the show half hour ago, we're going full at it. all of tax reform. not just a few tax cuts.

we have whole ball of wax. we're going for it. i don't think they have time. >> i think that is ridiculous. stuart: what, me? >> yeah. stuart: what? >> it is ridiculous, first of all that was ed henry talking to gary cohn outside of the white house. second of all, we know how we work, we work really long hours. occasionally they do that on capitol hill as well. i want to be careful not too broad in my brush stroke, because there are many individuals on capitol hill who are extraordinary hard-working compassionate about what they believe in. the fact of the matter, deadlines are deadlines. we might give up this rye ses, we might give up that recess, but they don't. they need to he think big. tax reform is something that the american people have been behind for decades. they have a opportunity with this president to think big. if you don't start in a big place, you're not going to get anywhere. if you start very small you are going to get nothing.

if you start big you might get somewhere. i would say to them, work, get to work. sit in a room together. i do give the president credit for bringing them all together in the room. apparently good things started to happen. we'll talk to rand paul. get it done on a deadline like rest of america does. stuart: i put in my place. martha, i back right off there, i will see you tonight at 7:00. >> see you tonight, stuart. good to see you. stuart: we do have other headlines, not just that i'm wrong but we have plenty of headlines for you. how about this, blue apron? they're the ready to cook meal delivery service. they go public tomorrow. that means they sell shares to the public for the first time. here is the story, they lowered their price range t was about 15 bucks a share it would go off at. now it is between 10 and 11. it opens for the first time. you will see it on this program tomorrow. let's see the price. facebook hitting a real

milestone. zuckerberg says facebook as two billion users. 800 million people hit the like button daily. 800 million. check this out. i will crack the joke again. i have temporary beachfront property for you, temporary. that is a new island. it is about a mile long, three football fields long, off coast of north carolina suddenly appeared. do you have any idea where it is? i gave it away. north carolina, folks. by the way it will go back underwater within a year. got that? spider-man pranking customers as they picked up coffee in new york city. wait for it. you'll see it. [laughter]. next, you see it next. all of it. all of it. [laughter]. ♪

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>> cappuccino for rose? >> a grand day for spider-man. >> everything. [screaming] [laughter] stuart: well you don't see that

every day, now, do you? a stunt double from the spider-man moving crashing starbucks in new york. sony created that stunt as part of a marketing campaign for the new movie which is you out next week, july 7th. look at this, tallest skyscraper west of the mississippi opened in l.a. it is called wilshire grand sent are. 11 feet tall, 73 stories. it has a rooftop bar, reportedly highest open-air bar in the entire western hemisphere. liz: wow. stuart: the oldest person in the world, celebrated her 131st birthday with some of her 56 deand ants. she was born on june 15th, 1 886. she likes to have visitors, talking to people. she likes to sing in a good mood. a local doctor gave her a check-up on the birthday, her blood pressure and blood sugar

levels are normal. for what age? coming up next, eric bolling on his new book, "the swamp." he have and i disagree. i say better to get something on health care, than nothing. we'll probably have a fight. that is still shot. you can't see what his reaction is. we'll talk to bret, a handful of people in the military who have the authority to select terrorist targets and issue death orders. he is on the show very soon. liz: wow.

stuart: that, ladies and gentlemen, is a rally and a 1/2. 21 now 450 -- 21,450. a lot of green. nasdaq, big drop yesterday. it is positive for the month of june. we'll check the fabulous five as i call them, big-name technology stocks. they have been down a lot recently. modest bounce back for some of them today. the exception is google, which is down a little bit more. how about the health insurers. they too bouncing back a little.

they were down yesterday, on that delayed health care vote. that is not much of a bounce back though. less than 1%, except for humana which is up 1.1%. i will stay on health care reform. can't get away from it. if the gop can't agree on a plan, they will open the door to the democrats. this is my opinion. something is better than nothing. i suspect we'll have a fight about this because our next guest is eric bolling, who by the way, author of that new extraordinary book, running away, but -- >> number two on amazon. number two on amazon. stuart: after this interview it will be number one. >> i will give you credit if it happens. stuart: i won't give credit. i want commission. >> i will give you commission if it happens. stuart: you're on. >> this is money show. stuart: here is my opinion on health care reform, do something, get something. >> kind of like obamacare, right? stuart: anything is better than nothing. >> that is what obama told us.

you know what he got? he a got a health care bill, turned out into health care law and lost the house. obamacare gets jammed through both chambers about of congress. you get obamacare, in 2010, we got the house. and then we got the senate in 2012. so, i think doing, here is my opinion is let obamacare fester on the vine through the 2018 election. putting aside now. come back it after 2018 election. why would you take that, why you take that -- stuart: republicans get the blame. >> right now democrats getting blame. why would you take the blame? premiums will go up through 2018. stuart: every media company in america, with just a few exceptions, see, the republicans have six years to come up with a plan. they couldn't get a plan. obamacare is -- >> what matters is coming up with the right plan, stuart. this by the way is not the right plan. stuart: important coming up with an agreement. >> what most important part of

the health care plan? trillion dollar plan. what is the most important part? stuart: hold on, if you get this vote, and it's a no vote, if you can not agree, the republican party can not come together, if it's a no vote -- >> you get to tax reform. then you get infrastructure. those are yeses, american public goes, thank god i got tax reform under my belt. we'll get to health care in a minute. i have more money to spend now. stuart: if there is a no vote, go back to where we are now, collapsing obamacare. worse, it is collapsing. therefore the senate has to do something about it. therefore mcconnell said he will bring in schumer to get a new plan. you will get obamacare on steroids. >> 14 months away from another election. this is where you want to take the ball, hey, we got this? by the way our health insurance, our insurance rates are even higher than under obamacare? you want to go to midterm election with higher premiums than obamacare. stuart: you haven't got votes for get rid of everything in obamacare. >> good. stuart: you won't get the vote. >> you know why?

it's a piece of crap bill. a piece of crap law. here is why, stuart. stuart: getting rid of all taxes and mandates on individuals. that is nothing? are you kidding eric? >> what is way to bring prices down. stuart: answer my yes. >> what. stuart: getting rid of tax, getting rid of mandate on individuals and mandate on employers. what is wrong with that. >>? >> because it doesn't address the overall problem in america, overall cost of health care. you're doing what democrats did. stuart: mandates, get rid of them. >> allow me to answer. you're doing exactly what obama did and democrats did. you're dealing with health insurance costs, prices not the underlying problem of health care costs. there is no competition in this law. none whatsoever. there is not state line competition. there is not hospital competing with hospital, doctor competing with doctor for prices of health care. the only way to get prices to solve this rubics cube, get the underlying commodity prices down. give you an example. how do you get gasoline prices

down? only way to getcrude oil prices down. input to gasoline prices is crude oil. you need health care costs to come down first. this bill, nor obamacare neither one of them address the underlying problem. stuart: this book of yours, the swamp, you deal with health care in the swamp? >> no, but i do deal with scandals just plagued the country for 250 years. the interesting part is, while researching for the book, i found out capitol bidding, while it was being built, was built on literal swamp, real swamp, they had to drain the swamp. they built the building. forgot to what do? they forgot to drain the metaphorical swamp. stuart: put the book back up again. >> you want a commission. stuart: put the book back up again. is that picture? what is in the background? >> that is the capitol. that is the swamp. that is washington's murky --

handsome guy. stuart: eric, i will read that book. >> reconsider your stand on health care. stuart: never. never. no, no. something is better than nothing. i don't want to get stuck with these taxes and mandates. >> in britain they have got something there. stuart: that is the way we're going you know. you realize that. i know you realize that. >> i do. i do. stuart: eric, i do think you're all right. thank you very much for getting up so early in the morning, coming up doing the show. >> appreciate you guys here. let you know how much commission you get. stuart: i know you will. thank you, eric. appreciate it. all right, our next guest is a former member of the army's elite delta force. he's hunted down some of america's most dangerous enemies, with the help of drones. he has a book, it is called drone warrior. the man himself is here, bret vilokovich. >> you got it right. stuart: you operate drones,

you're the special forces drone guy. you had authority to identify a terrorist, press the button and kill him. that was you? >> what we mean is like businesses essentially use data to drive their decisions on who to go after. i utilized intelligence data drive my decision which targets to go after or like islamic state of iraq or. i was not pilot. not the trigger puller, shooting terrorists in the face. i'm telling them who is the person to go after, where they are going to be, pinpoint location, so we can capture or kill these individuals. stuart: i am told you identified al-baghdadi back in 2010. you found him. located him, and killed him. that was under your command no it wasn't under my command but i was one of the first people to designate, locate baghdadi, understand how important of an individual he was. he had just gotten released from prison. we saw him quickly rise through the ranks. at the time he was number four

or five in the overall islamic state of iraq organization. we used him to take us to the original two leaders of the islamic state of iraq. when we cut off the heads of the snake, he essentially took power and was able to take command. then u.s. troops were told to get out of the country and you know, now you know what happened with isis. but reality, yes, we spent a lot of time going after him, picking apart his network. basically, taking guys out that he surround himself with, he was able to get away even with the constant amount of pressure of u.s. forces going after him. stuart: what you do you make of morality, or legality perhaps, constitutionality droning a terrorist? that is very much part of our anti-isis policy. >> of course. stuart: you drone them, you kill them. >> the morality of it, when there is innocent civilians are hurt, these things keep us up at night but it is not my job to

decide what the morality of it was, it was my job to hunt terrorists. u.s. government asked me to do a job. i wasn't there to decide whether it was right or wrong. when you read in the book, you will see all the lives we saved. and how drones are preserving life more than we take it. stuart: are we changing the rules of engagement? i understand under president obama you were tightly restricted who you could drone. only one person, no women or children surrounding. have the rules of engagement changed? >> they have changed quite a bit. you would be surprised, president obama increased the amount of drone use, a lot of people didn't understand. he focused on covert war, he saw importance of drone technology. but at the same time he was making restrictions making sure no women or children were hurt in the process. we see some of the rules loosened. as long as you give men and women in uniform to do what they need to do to go after these guys, they will do the job the

american people ask them to do. i believe we should loosen restrictions on this i know from being behind these types of programs, how important we make sure we're not going after anyone else other than the exact target we're trying to find and the whole point is to save lives. stuart: along with eric's book "the swamp," i will read your book, "drone warrior." appreciate having you with us. >> thank you. stuart: bret, thank you very much. now this. crisis, real crisis in venezuela. the country's president, maduro claims a helicopter dropped grenades on the supreme court. he calls that a terrorist attack. financial crisis in illinois. that state has 14 1/2 billion dollars worth of unpaid bills. illinois is suspending powerball and megamillions sales. they can not pay the winners. that is american state in the north. and this. mark zuckerberg proposes universal income for all americans. james rosen coming up soon.

he will break down that story what it would really look like if we did that. ♪

♪ >> i'm lauren simonetti at the nasdaq where we're seeing quite

a reversal from yesterday. nasdaq is higher today. in fact it looks to end june on a positive month. that would be up eight months in a row. we haven't seen a winning streak like that since 1995. two days left in the month. we'll see. we're seeing a rebound in the "fang" stocks. names like facebook with two billion users. amazon, netflix, let's add microsoft to that. missing in the fang, google down today still reacting from the european commission decision yesterday that it pay that record $2.7 billion fine. that is a look at the nasdaq. more "varney" after this. ♪ you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do?

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>> i would be the senator that would vote against keeping obamacare. the other senators can explain why they vote to keep obamacare. i'm not voting to keep it. this has to be a repeal bill. this is what i pledged to the american people. this is what conservatives pledged. if people go back on their word, keep obamacare, let them go home and explain it. stuart: that is rand paul on the program talking about health care reform and the delayed vote. we also spoke to the chair of the tax-writing committee, the house ways and means committee, kevin brady, spock to him last

hour. spoke. listen what he says about the timeline. >> i got off the phone with secretary mnuchin. our tax teams met yesterday. they are today as well. we're simply not letting anything distract us from what we have to deliver this year to on big, bold, permanent tax reform. stuart: joining us congressman sean duffy, republican from state of wisconsin. first of all, congressman. health care, i say something is better than nothing. what say you? >> i couldn't agree with you more. i think we have to look at rand paul. he has to recognize there are not 52 rand pauls in the senate. we have a wide array of individuals from different states with different perspectives. so we're not kings. we're, we're senators and house members. i would agree with you, not only rand paul but ted cruz and mike lee and ron johnson, they will very to come together to say how we improve the bill.

if i don't get a bill on the senate, i can't go to conference with the house to pass partial improvement of obamacare. we'll be stuck with obamacare and implode and democrats will push for government-run health care system or single-payer system which is absolute disaster. stuart: you're abs you absolutely right. >> stuart, one thing, senators are going home to 4th of july. they will get absolutely blitzed by liberals or conservatives. that we can't stand which control the white house and congress and can't get anything done. stuart: can he of vin brady chairman of the house ways and means committee. he said they're going full throttle for tax reform. i don't think there is time. i think they you should go for tax cuts, leave it at that what say you? >> they can't pass that through the senate because of budget reconciliation. for every tax dollar you move down in the senate you have to move dollar up. we need obamacare trillion dollars removed. paul ryan talked about border

adjustment tax. that freaked some people out, make even you. we need to find other revenue to lower the tax dials, or senate has to get rid of filibuster rule, to do straight tax reform. i'm an advocate. get rid of a old school rule not working for modern government around modern economy. stuart: congressman duffy. story for cutting short. at least you agree with me. >> i always agree with you, stuart. stuart: at least most of the time. >> most of the time. stuart: this is truly a crisis in venezuela. what you're watching is a helicopter that dropped grenades on the supreme court. there is another development as venezuela on the brink of civil war. liz: a police officer who attacked police officer and interior ministry. he says it's a criminal government. national guard apparently under orders from maduro, the socialist dictator, broke into the national assembly building,

where lawmakers meeting about the constitution. maduro wants to rewrite the constitution to seize total power. they broke in, apparently beat up lawmakers. detained reportedly hundreds, including 20 senators. maduro is saying this, he will use military force, if his party, if he loses elections. here is the direct quote. what can not be done with vote we will do with weapons. this is now disintegrated on the brink of civil war. it's a highly combustible, volatile situation, already nearly 80 dead. more than 1000 injure and untold numerous people under under house arrest. stuart: it is socialist dictatorship. indeed. how about illinois? they have $14.6 billion worth of unpaid bills. illinois is suspending all powerball and megamillions lottery sales. it gets worse by the day.

ashley: it does. estimated $250 billion, stu, unfunded pension liabilities. they have gone two years without a budget. we're entering a third-year without any deal in sight. the republicans and democrats are so far apart. meanwhile the state continues to lose -- it is not paying its bills. it can't pay hospitals, doctors, medicaid, insurance payments. they can't pay their own utility bills at the capitol. now they can't pay on lotto or megamillions. stuart: the state of illinois. an american state. ashley: it's a real desperate situation. stuart: mark zuckerberg recently suggested a universal income for all americans. we're going to talk about what that might mean with james rosen. he is going to tell us what something like that, a universal income, would really look like. james is next. ♪ at crowne plaza we know

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>> we should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas. [applause] stuart: wouldn't that be nice? facebook chief mark zuckerberg touting the guaranteed minimum

income for all people. tesla's chief, elon musk, he says, that is a good idea. he says it is going to be necessary within day. come on in, james rosen. who has been taking a close look at this. james could never resist a smile. he always has a smile on his face, even when dealing with nonsense idea like universal income. go at it, james. what would the world look like? >> this is not the first time this concept has been faxable. in fact in his first term, president richard nixon, briefly fallen under the sway of bow tied liberal advisor, daniel patrick moynihan. proposed something like this, family assistance plan t was moynihan called guaranteed income. it died in the 19 senate in 1970. it is undergoing a revival nowadays. with perhaps as 40, 50% of the jobs currently exist in the united states right now, will be gone due to automation within 13 years, 2030.

so the question is raised, what will become of all those workers displaced by technology? thence from some ceos, like zuckerberg and musk, is that seeking stability society would be well-advised to guarranty an income for these people in such radically-transformed, economic environment. we'll look at it on "special report," with bill hemmer in for bret baier at 6:00 eastern. stuart: doesn't seem like it is feasible, james. vast amount of money would lay out there, all of us 320 million americans a guaranteed income. >> it used to be called guaranteed income in nixon's time. now they changed title, universal basic income, expands playing field from selected families or households or units or individuals, shall we say a universal promise. the question whether this universal basic income would completely supplant the existing social safety net provided by

state and federal governments or added on top of it. that is a big question too. stuart: james, on the way out of this interview we'll play a beatles song just for you. >> you are so good to me. stuart: play it now. play it now. baby, you're a rich man. >> how does it feel to be? stuart: [laughter]. i'll tell you when i get there. james rosen, everybody. on "special report" tonight with a good story. thank you, james. >> thank you, stuart. stuart: more "varney" after this. ut here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit.

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of gum disease. try new parodontax toothpaste. ♪ stuart: now, there is a development on wall street. that stock a huge company fedex, that stock is trading, and it has been halted. they do this when there is news pending. that means there's a news announcement of some significance to the company, which could affect its stock price and they give time to let the news get out there to be disseminated, as they say

what news is heading on fedex and as of this moment, it is not trading. it's been halted. by the way, the dow jones in for a terrific rally. we're up about 160 points. that's where we are as i hand it over to neil cavuto. sir, it's yours. neil: can come on your show. you're a little rude. stuart: what? . neil: you were rude. stuart: to who? . neil: to her. have a nice day. [laughter] stuart: what? you can't -- neil: breaking news. breaking news. sorry, buddy. to the white house the president likely to talk about health care. let's listen in. >> i was very impressed. i'm thrilled to be joined by governor paul, tim reynolds, pete, and bill walker, along with state and tribal leaders from around our great country. i would also like to thank secretary