tv After the Bell FOX Business January 17, 2017 4:00pm-5:01pm EST
we'll come wear them in together when it gets 20,000. liz: duck pick off the number once it happens. not today. [closing bell rings] we're off the lows of the session. dow off 54 points. never was in the green, nor the s&p and nasdaq. there is the closing bell. david, melissa it is yours for "after the bell." melissa: stocks ending the day in the red off session lows as bank shares taking a hit on wall street, following further from dow 20,000. take a look at that, 19,829. i'm melissa francis is food -- good to have you back. i'm david asman with "after the bell." this is very busy hour. it will be very busy toughou the evening just three days, donald trp sworn in as president of the united states. president-elect's team is getting ready mapping out priorities for his first 100 days in office. more businesses are caving to pressure before the president-elect moves into the white house.
plus it is round two astrump's cabinet appointees are taking the hot seat on capitol hill. the hearing for interior secretary is currently underway. in just one hour, senate democrat are expected to grill betsy devos, trump's choice for education secretary. fox business will be bringing that hearing from stem to stern live. coming upjohn stossel will join on "after the bell" to sound off on all this. melissa: dow plunging as dollar slides to one-month low as president-elect donald trump described the currency as too strong in an interview with the "wall street journal." phil flynn, price futures group is fox business contributor. watching action on gold from floor of the cme. lori rothman on the floor of the new york stock exchange. lori, start with you. what was driving the trade here. >> dollars was a big theme throughout the session. what is wrong with a strong dollar? multinationals that do a whole lot of business like nike,
mcdonald's, makes it more expensive for them to do that business. since trump took office he is up 2, 3%. stronger dollar means we have strong economy. you don't want it too strong because it does give companies as trump compared it to like china which has been falling, some people interpret as unfair advaage. so that is dollar strength versus yuan weakness from our president-elect trump along with critical comments about a republican tax plan really weighed on financials today. look at morgan stanley, down 3 and 3/4% despite earnings that climbed over 85%, 83% as a matter of fact. this is strongest fourth quarter for morgan stanley since the financial crisis. because of the overall sector weakness financials having the worst day since june of the sector the industry came down. retailers were higher, getting
back to the republican's proposed border tax plan. trump was not in favor of that. his quote was, i don't love it. that is what it was. therefore you saw strength in the retailers today. especially tiffey's. this is great story, not for tiffany, tell you real quickly with the flagship store at trump tower. tiffany basically said consumers could not physically get into the store to buy sparkling diamonds because of traffic and security since the election. back to you. neil: we'll talk about the tax that trump doesn't love. david: phil, dollar fell and gold had wonderful day. >> inauguration talk must be what is driving the market. strum trump says he doesn't like a strong dollar. that helps gold. more at play today.
got uk inflation data that inflation is red hot. that was not expected at all. that is more of a problem for the uk as they try to get you there the "brexit" situation. concerns about the "brexit" situation all in play here today. a lot of commodity funds are worried about the uncertainty. what will happen under donald trump. is it going to be very inflation nary type of investment area to go? i think we're seeing a lot of that going to gold. we had concerns about china. china is buying it like crazy. every reason to be bullish for gold. back to you. david: thank you very much, phil. melissa. melissa: three days away from historic inauguration and the deals keep on coming. gm pledging 7,000 u.s. jobs an one billion dollars investment. walmart adding 10,000 new u.s. jobs. $3.1 billion investment from hyundai. bayer promising billions of dollars of research and development if the merger with monsanto is approved.
that is like extortion. this as boeing ceo meets with the president-elect at trump tower where connell mcshane has the latest. what have you seen today? reporter: melissa, that was the big meeting with dennis muilenburg. last meeting was in florida when they got together in mar-a-lago in palm beach and when they were there they were talking about bringing down the cost of the air force one plane and the boeing ceo came out of that meeting vowing to work with the president-elect on that. he said that he can get the plane made for $4 billion. now we have the sequel to that. meeting number two, heard similar remarks today and heard remarks from mr. mule henneberg from trump's negotiating style with american business. >> i think mr. trump is doing a great job engaging business. we're all on the same page. mr. trump's engaged in industry and help grow manufacturing jobs
in this country. reporter: okay. that is what it comes down to, right? job creation, boeing says it helps to supports 1 1/2 billion manufacturing jobs within the united states. looking after that, other companies making similar announcements that medical list saw talked about there. as for his own planes, mr. muilenburg said he and mr. trump had excellent conversation about bringing down the costs. you can add fighter jets as well. there is talk about a superhornet in competition with the f-35 from lockheed martin. definitely more talk of bringing down costs and talk from bowing and other companies adding more jobs. melissa, back to you. melissa: thank you, connell. here to react, gary kaltbaum, kaltbaum capital management, fox news contributor, founder of cheddar, john steinberg an dan henninger of "the wall street journal." thanks for joining us. gary, start with you.
you saw all the good news in the press. markets have run up. now they're taking a breather. is it waiting to see if it come to reality and are you tying the two things together or no? >> if you ask about the market a lot of areas run up too far, too fast, mainly financials and you see them coming down. there is nothing wrong with it. the financial stocks moved in last two months more than they normally move in the last couple years. i don't think it is a big deal if we pull back. as far as all this news, i think the best thing out of it, it set as precedent as we move forward for companies to realize we are back in business in a big way and trump is going to get there, go out there front and center trying to make more and more of these deals. good start, good news. melissa: yeah, john, you're a media guy from cheddar to buzzfeed. >> yeah. melissa: what do you think of the way he has put the deals out there in the media? you know, does it feel like he is setting the tone as he says, or is it just hype?
>> melissa, i was at the press conference in trump tower. i asked the only business question that got out there. i say how do all the deals answer to a program. he said to me, it begins with getting the word out there. the word is out there, if you're going to move overseas and think you have all the benefits i'm putting out there it is not going to happen. effectively it is working. he is doing deals one at a time. the that is how i run my company, one deal after another. journey of a million miles begins with a few steps and it's working. >> dan, what do you think of that? >> it is a little hard to belief that trillion trump will raise the employment rate in the united states one company at a time. he has to lift the entire economy and in this case all these companies making announcements are doing it in the expectation that the larger policy set from donald trum will help them. for instance the auto industry, hyundai and ford, others involved in the deals, they expect donald trump for instance, to help them with
cafe, the fuel economy standards that rise to 50 miles per gallon. melissa: what is wrong with that? >> there is nothing wrong with that if he follows through on it. >> melissa, i want to take issue what dan is saying. began what agreeing what he said, now i reversed myself. if you look how many jobs committed since he took office, since he won the election you have to be north of a million jobs at this point committed. how else do you get to millions and millions of job growth, if he keeps up this rate or only accelerates why he is president why wouldn't it work. melissa: next topic. we love you guys, do indeed. more of them to come. president-elect donald trump sounding off on a republican corporate tax plan which the gop pitched as alternative to trump's proposal for new imports tariffs. legislation from the house gop is known as borderadjustment. trump knocked the measure for being too complicated. it is complicated. blake burman is standing outside of the white house and he is so good explaining complicated tax
bill in short order. melissa: no pressure. >> i have one line in my notes. subsidizes exports and also taxing imports. how about that? does that boil it down? david: all right. reporter: this has been pushed by house republicans basically since last summer. they say, david, medical melisss would level the playing field dealing with exports and imports, dealing with our competitors. they say this could save a trillion dollars every oat next decade and pay for some the tax cuts that would filter down to american businesses and individuals. that is the argument from many top house republicans. however there is one big republican critic of this border adjustment tax, that being on the republican side, president-elect mr. trump. in an interview with the "wall street journal" he called this whole arrangement complicated and went a further than that here is what he said, i'm quoting here. when ever i hear border adjustment, i don't love it, it means we'll getted adjusted into
a bad deal. that is what happens. that puts him at odds with some house republicans. one person pushing this consistently is kevin brady. he is the chairman of the house ways and means committee and earlier this month he wrote an op-ed which he said this championing this border tax adjustment. quote, he said by border adjusting our taxes like our foreign competitors do, we level the playing field. brady went on to right, border adjusting our taxes helps eliminate all tax incentives for u.s. companies to move their manufacturing, technology and headquarters jobs overseas. in that "wall street journal" article, dave and melissa, a spokesperson for house speaker paul ryan said look, mr. ryan, mr. trump, they speak, they think they can come to some common ground on it. as the president-elect says though, some of it is incredibly complicated, that is a very good explanation. thank you, blake burman, from the white house. dan, what i hear the phrase we have to pay for a tax cut my
head explodes. very often the pencil pushers, green eye shade folks who don't believe cutting tax rates could tually bring more revenue as the economy grows. steve forbes is one of the supply-siders. he doesn't like the gop tax plan. he wrote the following. the gop border adjustment tax is but a small step away from a full-blown value-added tax which is financing the bloating of governments around the world. that would crush future u.s. economic growth rates just as it has in europe and elsewhere. i should mention, steve is not one of these knee-jerk trump fans. he doesn't like it either. what do you think? >> let's talk about politics, david. the border adjustment tax is intended to fill $1.2 trillion hole in the trade bill, or the tax bill that they have right now. and you have got to get a tax bill through congress. there are enough republicans both in the house and in the senate who will not vote for a tax bill if you leave
$1.2 trillion hole in the middle of it. you have got to get those votes. what i think kevin brady produce the revenue through the border adjustment tax that trump -- david: the point, gary, time and again, people who do static analyses of tax cuts are wrong. when you lower significantly tax rates the way donald trump wants to lower them, you have increase in economic activity that you bring in more revenue and you don't have any holes that need to be filled with new taxes. >> look, donald trump uses the word complicated. when you look at 75,000 pages of tax code, you know exactly what he means. david: yeah. >> there are two things that need to be done. cut taxes, and gegovernment spending down. we're going to be at 4.1 trillion this year. the last year of clinton was 1.8 trillion. where is that 2.3 trillion a year going, what is it benefiting. unless you do that, no good things happen. as far as this thing, i got to
tell you einstein can't figure out if is is going to work out or not because for every action there is equal opposite reaction, we'll save 1.and somebody will lose 1.2 and they will react to it. david: john steinberg,. >> wait. david: i want to get to john on this, gary. president of buzzfeed, i have to ask you since you were involved in business that was very much at the center of the news universe last week, with this trump dossi air, what do you think of the way buzzfeed handled it and rolled out information? >> it is funny i wanted to talk about the border adjustment. i will give an answer though. i was not involved in editorial at buzzfeed. i was chief operating officer and did business. cheddar i'm responsible for everything that rolls up to me. i'm not in contact with buzzfeed. i don't know what goes on there. with my perspective from my company, i would not publish it.
that is all insight i can give you. david: that was honest, straightforward answer. i have to give you something on the border adjustment act, quickly. >> it is enron of tax plans. that is the last time i was told something really works and awesome but i'm not smart enough to understand it. i accounting at columbia business school. this is too simple. cut for corporate tax rates, repatriation of cash and companies have to create jobs here. this border adjustment thing is the worst. david: last word, gary kaltbaum, john steinberg, dan henninger, great stuff. what a good group. need to have them back. melissa: absolutely. the inauguration three days away but not everyone is planning on attending. why dozens of democrat congressman choosing to opt out of a the event. david: vladmir putin is taking a shot why the russian president is accusing the obama administration trying to undermine the president-elect. ambassador john bolton talking about that.
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david: more than a quarter of membership are skipping president-elect trump's inauguration. after the war of words between donald trump and john lewis over his legitimacy to be the next president. here is jamie weinstein show, his podcast and noelle nikpour, and blake rutherford, democratic strategist. blake, first to you. the numbers are growing. is this eventually going to be the entire democratic house that
boycotts the inauguration? >> i don't think think it will be the entire democratic house but i think these numbers will continue to grow over the next 24 to 48 hours. ithink the president-elect comments about representative elect johnew civil rights hero struck a chd. people are reacting to that. david: i don't mean to sound like a schoolboy here but who started it? it was lewis's comments he was illegitimate president start thatted ball rolling right? >> certainly this debate began with a comment by representative lewis. i think trump's comments certainly went, went a step too far from my perspective, when you put representative lewis -- david: saying that donald trump is illegitimate is bit toofar. people bothering a lot of people, democrats, saying before the election donald trump has to accept the results of election. everybody running has to accept the results of the election.
they turn around after the election saying he is illegitimate saying totally reverse what happened before the election. >> absolutely. they're acting like little babies here. this is not a celebration of donald trump in many ways. it is celebration of the american process. the peaceful transition of power, with i is so revolutionary, that our first transition of power in 1800 was called the revolution of 1800 because we transitioned without firing a shot. the reality is, democrats should be somewhat happy here. no other republican president that was running, candidate running in 2016 will probably work with the democrats as much as donald trump. he says he doesn't want to touch entitlements. he is willing to work with them on infrastructure spending. david: he already talked to people, noelle, like congressman schumer and, excuse me, senator schummer. he does have familiarity with a lot of the people that are in congress right now. i'm just wondering though, when are the democrats going to try a different tact? the tact they're taking now did
not work ithe election at all, forget about the presidency. you go down to the house races and so forth. so are they going to change tact or is this tact they will take for another two years? >> well, david, i've got a message for all the democrats not going to attend the inauguration, around it is this. how dare you? how dare you do this. because number one you were elected in this position, to make a deal on behalf of your district. so if you are going to open pose and not be at the inauguration, how in the holy heck do you expect to cut a deal with the administration that you're not even going to respectfully sit there and watch be inaugurated? very selfish. david: you asked a question. blake, go ahead and ask it. >> there are couple things. this is politics and it is symbolic. when there are moments like this
people choose to stand up and certain representatives have. i note congressman bob brady, my home district of philadelphia, look, john lewis is my friend. in essence you stand up for your friends. there is more to play at this. let's not forget you will donald trump spent year after year declaring that president barack obama was an illegitimate president. so the outrage that comes from republicans is, is to be honest a bit laughable. david: surprise, surprise. there is hypocrisy all around. jamie, quirk, last word, do you think that this is going to be the state of course of for the next, two, if not four years? >> yeah, just hearing what the standard being laid down here, i was no fan of donald trump during the election, are they going to boycott state of the union speeches because of what donald trump did several years ago? are they going to boycott everything else? you can't just boycott all state functions because -- david: we have breaking news. you will be back with uslater
in the hour, go ahead. melissa: president bushobama issuing last-minute pardons, fox business's peter barnes in d.c. with the latest on this. what have we learned, peter? reporter: 200 pardons, commutations of prison sentences including prison sense of private chelsea manning, the army intelligence officer who was convicted several years ago of leaking classified documents and was sentenced to 35 years in prison. he had, she had, he was, she was a he. has been going through transgender process, and she had a applied for a commutetation of the sentence and president has granted it. she will now be released in may of 2017. melissa. melissa: thank you, peter. we'll be right back.
off as we're three days away from inauguration day. education secretary nominee betsy devos will be pressed by members about congress later today. we'll be covering it here on fbn. adam shapiro inside the beltway with more. adam, what do you think will happen this time? reporter: there will be a very coordinated attack by democrats to try to get betsy devos to talk about some of her political contributions and her investments. let's get into one of endorsements she got earlier today because she is advocate for charter schools, school choice and school vouchers. there was a tweet by ava moscowitz. it was retreated by president-elect donald trump. moscowitz is advocate of having children send their schools to schools of their choice. she said betsy devos has the talent and leadership capacity to revitalize our public schools and deliver the promise of opportunity. hearing of betsy devos, at least
the con permanentmation hearing will take place starting at 5:00 p.m. she is expected to be grilled about donations. she has donated with, her family, a million dollars to senators, sitting senators here in the senate as well as $10 million to super-pacs. they're going to question her about that whether it's a conflict of interest. she will be asked about the every student success act, $20 billion. whether she and president-elect trump would try to divert some of those fund to charter schools and support school choice progra. and then of course she is going to have to answer to people like senator elizabeth warren who may challenge her about vouchers and school choice programs. it is interesting to note that senator warren, the democrat, actually supported school vouchers as far back as 2004. she talked about in her book, the two-income trap. as for confirmmation hearings coming up, very busy day. wilbur ross, nominated for secretary of commerce.
scott pruitt, nominated for epa administrator. nikki haley, ambassador to the united nations. tom price, tomorrow, including democrats and elizabeth warren and al franken want hearing delayed. rick perry on thursday and steve mnuchin on thursday. their hearings coming up as well. back to you. david: great point about. david: warren. she was here once for an interview years ago where she and i were talking about school choice and about how wonderful the idea of a voucher really is. and now, appears she changed her mind. adam shapiro inside of the beltway, thank you very much. melissa. melissa: here now to react to education secretary nominee is john stossel, a fox news contributor. i am so excited to have you on because you did a great special on school choice and charter schools. in fact betsy devos was in this. there was a great debate between her and somebody on the side of public schools or government schools as you call them. >> government-run schools. they'rall public.
melissa: what her, that she is trying to drain public schools of money. they're basically collapsing as a result of people like her and they point to detroit and other places where she has been very active, say she is siphoning off money and trying to make schools private and even for profit. what do you think of that? >> yes. and that's okay. because the money should follow the kids and if the public but not government-run charter schools are more appealing to parents, and money goes with them, so the remaining public schools have less, that's okay. but also, i'm overstating it because the charter money is not as much as the government-run schools get. let's say they spend in detroit $12,000 on the government-run schools. they only get 10,000 to the charters. every time a kid leaves in a way they gain $2,000. if you say the parents that don't care will leave the kids in those schools, they have more money to help the kids with.
melissa: does the charter school get more money from elsewhere? one of the arguments is charter schools do better because they have more money and spend elsewhere. they take less money from the government and do get more funding per pupil to help people? >> certainly do, the one that mrs. devos gave $200 million to did. melissa: we're not knocking that. that is how you reconcile the numbers, while charter school may end up spending more, they're taking less government money. your idea, a lot of people say school choice, the $12,000 whatert is for sdents is almost 20,000 here in the new york should be on back of these kids. >> 400,000 per classroom, where does the money go? they squander it. melissa: it is incredible. in terms of the record there was a long article in the "wall street journal" tried to talk about in detroit, what has the record been like for charter schools, do they deliver a better product. here in new york you went to places they lined up to get in. i know that. it is like a golden lottery ticket to get into one of
charter schools. parents cry and fight. in detroit they're still below the national average in the city of detroit per student but if you compare that to other detroit schools the charter schools are doing better than the public schools. >> isn't that the point? yes, they're not working miracles yet like some schools in new york are but, in detroit those kids are in real trouble and as long as the charters are doing better than the government-run schools, i won't call them public schools, then they're doing pretty well. they're at least doing better. it is beginning of progress. you need critical mass for free market to really work. but, one thing i learned in 40 years consumer reporting, the only thing that works well is free market, is market competition. melissa: right, with choice. you vote with your money and doll did lars even if that a voucher, whatever it is. it is notpro-charter, pro-choice. >> parents making choices they say they don't know what the kids need. they know if johnny likes going to the school down the street they know enough.
melissa: and if they can reed. john stossel, appreciate it. we'll cover the betsy devos confirmmation hearing, bringing it to you live 5:00 p.m. eastern here on fox business. don't move. we have it all covered. david: we do indeed. nice to see john stossel. united continental releasing third quarter results. beating expectations. a lot of people flying on top and bottom lines. president noting meaningful pickup in pricing and demand. despite the good news company is down in after-hours trading. same thing happened with banks. melissa: there you go. vladmir putin breaking his silence. the russian president pushing back against allegations that he helped influence the u.s. election. he has harsh words for president obama. up next ambassador john bolton weighs in.
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now he is a woman through the sex change operation, you know, he could have received a death sentence, aiding the enemy was one of the charges originally brought against him and now he is going to be walking free, i guess presumably at the end of the year once the paperwork's in, what do you think about it? >> i think it is outrageous to say the least. i thought he should have been prosecuted with the death penalty in mind. i think he committed treason against the united states. the damage that his release of these incredible number of cables and other internal communications to wikileaks, the damage that did to the united states is just incalcuable but this is the mark of the obama ideology, and you know, often what a president does at the end in terms of pardons and commutations sticks with him like bill clinton's pardoning of marc rich at the end of his administration. david: that was something. >> i think this shows the contempt that the president has
for national security, for the criminal justice system, for the military, the list is long. david: it is interesting he also pardoned general cartwright. i assume what he is doing there trying to balance the two pardons? >> well, you know, cartwright was one of his favorites, so if you want to talk about a double standard for justice, this is a pretty good indication of it. but, it is, it is something we've come to expect from barack obama, and as i say, this probably is his last official act, at least i hope so at this rate will stick with minimum in his presidential history. david: i bet there are a couple more pardons. the week is relatively young. putin, vladmir putin, today, came out in this dossier business, saying some pretty wild things that about prostitutes and stuff, essentially dumping though on the administration, the obama administration, for its influence on intel agencies in
coming out with this dossier, what do you think about all that? >> putin had several things to say, some of which i have to say hard to do but some of which i actually agree with, the people who commissioned these fake reports on trump, whether it was political opposition research in the united states, whether it was somebody overseas, really are worse than prostitutes as putin said. to put this kind of information out there, to try and establish it as credibility, this goes beyond character assassination. david: could i interrupt for one second, the dossier was filled with so many errors, many became very apparent, for example, they got the wrong trump aide in there. apparently somebody with the same name. a guy they claim was in prague and never left the country when they said he was in prague. the cia had this dossier for months and they couldn't spot -- this is central intelligence agency. they couldn't spot the obvious errors and mistakes in this dossier that they had had for
months, and passed it on as though, you know, it was information that should be taken at face value? what's up with that? >> i think that is a very important question. i have to say, i think one of the verdicts on obama's eight years, decided politicization of intelligence agencies almost across the board, certainly at very top levels but even down into the central command when intelligence officers there were told to understate the radical threat of isis and to overstate the efficacy of the u.s. aide to iraqi forces trying to push isis back. this is going to be hard to overcome. i think dan coats and mike pompeo will have a tough job in their respective positions but very important they correct the problem. david: last question, do you think john brennan, the cia director was willing to pass this on despite all of the mistakes because he had political motives coming out with it in front of trump and president obama?
>> you know i can't speato this specific but i tagged brennan as one of the most politicized senior officials in the intelligence community, maybe the most politicized during the entire obama administration. that is why the new people coming in before they have any dog in the fight need to get the facts out here because the american people need to have faith in the integrity and impartiality of the intelligence community. david: absolutely. ambassador john bolton, wonderful to see you sir. thank you very much for being here. >> glad to do it. melissa: planning for the worst. the mainstream media is attacking donald trump's presidency before he is even sworn in. what the war of words means for the press going forward.
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that is because he hasn't earned it. trump's presidency is doomed. just when you thought that trump ethics disaster wouldn't get worse it did. that is not all. one of president obama's former economic advisor is already slamming the trump economy before even takes office. treasury secretary larry summers writing an editorial entitled, the economy under trump. plan for the worst. that ireally positive. the panel is back to react. blake, let me start with you. you know, sometimes when you get out there and you pitch so hard against someone you set the bar so low, how much do they have to do to overcome it? some of this editorializing undermining what it is trying to do, it seems to be managing expectations to the downside for donald trump. >> well, i think, i think we have to talk about this, melissa, in the context of the substance here, because there is a lot, and president-elect has been very active during
transition. so there is a lot for the media to report. there is a lot for it to comment on. really there are some stark challenges that the president-elect faces as he comes into office. not so much the negative media coverage, although, i would argue certainly in the context of ethics, in the context of representative lewis, and in context of what we're seeing with perhaps 18 million people losing their health insurance because of what donald trump want to do he deserves some of that harsh criticism but i think bigger problem for him is he is coming in, really on a very thin plane. he has only got 40% approval rating. he has a 54% disapproval rating. that will cause him some challenges as congress getting going and starts to realize the effect of that unpopularity. melissa: noelle, when i look at larry summers in particular, when he says the economy under trump, plan for the worst, it kind of remind me when paul krugman came out and said, boy, watch out if trump wins the stock market is going to tank.
you know, almost like he wanted to scare people. it didn't happen. so now you look back and it is justis credibility as a predictor of what's come somethinsort of shot. i wonder if larry summers, who is very credible, obviously thoughtful person, sets himself up with the same kind of thing, saying the economy under trump. plan for the worst. it will be a disaster. what if it isn't? >> that is the ramifications that larry summers will have to deal with, what he put out. the other thing to look at, melissa, this validates the use of twitter that donald trump is having to resort too. this actually gives a kind of a free pass for donald trump to provide transparency through social media, which is twitter. a lot of the press is upset about twitter, but i don't think with all mainstream media apparently looking as they're against trump, that trump has any chance of getting anything out other than by social media because it is transparent. melissa: jamie, i don't mean to
throw you a curveball. one of the things we're talking about right now, commuting the sentence of chelsea manning or pardoning who had put out a lot of documents to wikileaks, i think 750,000, enormous number. you can see her there on the screen. what do you think about the message that president obama sends with that move, as, wikileaks is so much in the, so much in the press and has been such a part of this past election? >> well it certainly undermines the democratic argument or argument exists out there, shared by some republicans an could have servetiveses that wikileaks is this awful organization. i happen to think it is. if barack obama is forwarding this argument, don't knohow he can pardon chelsea manning and suggest what chelsea manning did was not this awful offense. i think it was. if it is an you have a fill offense you don't want to send
the message it is okay to give secret documents. melissa: interesting connection. panel, we have to run. david: prepare for fireworks. you're seeing one side of the screen, live shot from capitol hill, betsy devos, nominee for next education secretary will be there in a moment. stay tuned. your insurance company
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david: literally every moment between now and then, there is something happening. we are moments away from education secretary betsy devos' confirmation hearing. joining me is the contributor to the hill. explain how important the idea of school choice -- i'll put it in a nutshell. there is a lot more to it, but it gives the parents the money that the government spends, it gives the parents a voucher and lets them take that voucher to the school of their choice.
how important is that for latino families? >> it's extremely important. latinos have traditionally struggled in our educational system and have made great stride closing the achievement gap, but we have a long way to go. a lot of that rationale why they were struggling was their own education and their ability to support their child's education. allowing parents to decide where their child goes to school brings them into the fold. 80% of a child's success evolves from their parental involvement. david: hispanic families are very tight knit, probably the most tight knit family group in america.
it really does bring the family together in terms of choosing what the best option is education-wise. >> it does. as a catholic -- as a practicing catholic as most latinos are at least culturally. we believe our faith teaches us the parent is the primary educator. it's the government's job to support the parent, not dictate their future for them. david: government money is taxpayer money. so we are getting our money back and deciding how to spend it. you founded parents for choice education. >> when we started this small group on behalf of 5,000 latino
families we noticed that we had all these families participating in the program and a lot of family that still needed help navigating the process, that the only people speaking in our community on behalf of education were those that were against it. david: that included the teachers unions and other government officials? >> it did. the thing about it is -- i don't want to disparage unions. but when you sit down and have a conversation with the families and not speak from an ivory tower. those -- the soft bigotry of low expectations won't be applied because they won't let you out of their house. they want the respect and dignity that comes from making their own decisions. and they want that support. a lot of folks who didn't support the family decisions, a lot of them were just quiet. so we decided topeak up on
their behalf. because of that and what betsy did for us through the american federation for children, she was able to support our organization so we could go out in the community and spread it the way we wanted to spread it. david: i know you will want to stay tuned for these hearings. you know betsy devos. zues rodriguez, the founder of school choice. melissa: trump's pick for education secretary is finally headed to the hill for a confirmation hearing. we are moments away from her testimony and we'll bring it could you. david: welcome to special trump transition coverage. charter schools and school choice are expected to be the main focuses of education policy
under the new trump administration. betsy devos has spent over two decade, advocating spending all of her time for school choice programs that gives parent and students an alternative to traditional public school education. adam shapiro is on capitol hill. we see they are just revving up to begin. reporter: we are waiting for betsy devos' opening statement. i'll give you a preview of some of the things she is going to say. this will resonate for parent of children who are eligible for public schools. she'll say i share esident-elect's view it's time to shift the debate to what moms and dads wanted and deserve. parent no longer believe there is a one size fits all for every