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News on The 700 Club: January 31, 2017

As seen on "The 700 Club" Read Transcript


Well, welcome, folks, to this edition of the "700 Club."

In a shocking departure from custom,

the former president has criticized

the actions of his predecessor, I mean, of his successor.

It just was never done.

It isn't done.

But Obama is not going to go away quietly into the dark,

and he's out there firing away at Donald Trump.

But he's also left a few time bombs in the federal agencies.

One of whom, one of his appointees

happens to be holding on as the placeholder

as attorney general of the United States.

So she announced so boldly, well,

I'm not going to support the actions of my President.

Well, the only reason that woman's got any power at all

is because of the President.

She serves at the pleasure of the President.

He can fire her anytime he wants to, and he took that step

and did exactly that.

Undoubtedly that woman will now get a position

in some left-wing school to teach law

on how you're supposed to break the law.

But in any event, without question, the President

did the right thing.

He has the power in terms of accepting into this country

those he wants to.

That's the power of the President.

The trouble is the Democrats will not acknowledge the fact

that Trump won.

They will not get away and say we've been beaten.

They've been beaten soundly on every issue

but they keep holding on.

And most of these protests at these airports

are George Soros paid for, phony protests.

These people aren't just coming off the street,

nice, innocent Americans.

They are paid provocateurs by Soros and his crowd.

And the only reason is the Democrats

want to embarrass President Trump and destroy his legacy.

But I don't think he's going to let them do it, Terry.

Well, the President is going to make

another major announcement tonight,

naming his choice for the Supreme Court.

We're all ears for that.

Charlene Aaron has the story.

CHARLENE AARON (VOICEOVER): In a letter,

Sally Yates, an Obama appointee, had publicly

questioned the constitutionality of the President's

controversial temporary refugee ban

and refused to defend it in court.

The ban applies to seven countries

that have been identified as having ties to terrorism.

Despite protests against his move,

Trump supporters say other presidents

have done the same thing.

And his White House team says the controversy

has been overdone.

I think this has been blown way out of proportion

and exaggerated.

CHARLENE AARON (VOICEOVER): The state of Washington

has filed suit over the immigration order.

At the end of day, either you are abiding by the Constitution

or you are not.

And in our view, the President is not

adhering to the Constitution when it

comes to his executive action.

CHARLENE AARON (VOICEOVER): Former President Obama

has broken custom of past presidents

to not criticize the current chief executive,

saying in a statement, "The president fundamentally

disagrees with the notion of discriminating

against individuals because of their faith or religion,"

even though the ban involves countries, not individuals.

A new Rasmussen poll done by phone and online

found that 57% of likely US voters

favor a temporary ban on refugees.

33% are opposed, while 10% are undecided.

And tonight President Trump is set

to make another big announcement,

naming his Supreme Court nominee to fill the vacancy left

by the late Antonin Scalia.

And three federal appeals court judges

are seen as the leading candidates.

Neil Gorsuch serves on the 10th US Circuit Court of Appeals

in Denver.

Thomas Hardiman works in Pittsburgh

as a judge on the Philadelphia-based 3rd US

Circuit Court of Appeals.

And William Pryor sits as a judge

on the Atlanta-based 11th US Circuit Court of Appeals.

But Democrats are already threatening

to filibuster his choice.

Democrats are still unhappy that the Senate wouldn't

give President Obama's nominee for the Court last year a vote,

even though leading Democrats, including now Senate minority

leader Charles Schumer, have said

in the past Republican nominees should be blocked.

Meanwhile, President Trump is also

keeping his focus on the economy,

signing an executive order to severely cut

the cost of federal regulations, an action supporters

say will help businesses.

The move will require agencies to cut two current rules

for every new one.

This will be the biggest such act

that our country has ever seen.

There will be regulation.

There will be control.

But it will be a normalized control,

where you can open your business and expand your business very

easily.

And that's what our country has been all about.

CHARLENE AARON (VOICEOVER): Charlene Aaron, CBN News.

You know, there was a book called, "Gulliver's Travels."

Jonathan Swift wrote a parody about this giant

that ran among Pygmies.

And he was found on the beach, and the Pygmies took ropes

and they tied it all around him and tried to get him down.

And I think that's what we're looking at.

We're looking at a giant among a bunch of Pygmies.

And the Pygmies are running wild,

and yet the giant is moving forward.

And I'm just really pleased to see it because those of us who

understand economics and understand

what is necessary to increase this economy realize

that we have been tied down by unbelievable regulations.

They have cost trillions of dollars in growth,

and they have deprived us of jobs.

They have deprived us of a good standard of living.

They have deprived us of all sorts of things.

But this is the legacy of the progressives who insist

on controlling everything.

I was talking to a man yesterday,

and we were talking about water regulations.

And he said that a gutter on your house

under the new regulations is considered a waterway

and therefore is subject to federal regulations.

Terry, isn't that insane?

A gutter on your house.

I'm sure there is probably a plethora

of that kind of regulation.

A plethora of a tidal wave.

Well, anyhow, getting the economy moving again

is job one of President Trump.

And with us now to talk about it is our good friend

Stephen Moore.

He's an economic consultant with FreedomWorks

and served as an economic adviser to the Trump campaign.

Steve, good to see you again.

Hi Pat.

The first thing I'm going to do is take my gutter down.

[LAUGHTER]

So the government Can't regulate my house.

That's right.

If you've got a waterwheel on your downspout,

you better do something about it.

Hey, listen--

You know, it's really amazing what

Donald Trump, what has it been, eight or nine days that he's

been in the White House, and I'd make the case to you, Pat,

that this President has done more in nine or 10

days to help the economy than Barack Obama did

in eight years.

These rollbacks of regulations, the pro-energy development,

he's the Energizer bunny in the White House.

He reminds me of you, Pat, he's just forever young.

And I'm very impressed.

I don't agree with everything Donald Trump has done so far,

but most of it I do.

And I think most of it is very healthy for the economy.

Well, look, don't you think it's time,

this immigration stuff is interesting.

But what's really important is moving the economy.

That's what he's going to be judged on.

What do you tell him or what the others have been working

with you are telling him.

Well, let's start with regulation

because you're so right, that is a major cost of business.

And I'll just give you one statistic, Pat,

I think will blow you away.

You know, there was a study that was

done by the National Association of Manufacturers

a few months ago.

And it found that the regulation costs per employee,

per manufacturer employee, is about $17,000 or $18,000.

So that's like a tax on hiring American workers.

And by the way, you could move that factory

to, say, Mexico or China and cut those regulatory costs

by $10,000 per worker.

So we're destroying our manufacturing base and so many

of our jobs and encouraging businesses

to move abroad with these excessive regulatory costs.

I believe if you cut those regulations

and you get the tax cuts in place,

which we've talked about on your show

before, I think it's going to be a magnet for businesses

to actually stop leaving the country

and start coming back to the United States

and creating jobs here.

Steve, what mindset is it that wants to put

all these regulations in?

Are these academics who've never been in the real world?

Where do they come from?

Well, you know, there's a famous story

of George McGovern.

Remember when George McGovern ran for president in 1972?

He had been a politician his whole life.

Well, after he got out of politics,

he actually tried to start a little inn up in the Northeast.

And he said, the regulations were

so terrible I couldn't run the business.

He said I never realized that until I went into business,

you know, how terrible these regulations are.

Part of the problem is what you just said, Pat.

A lot of these politicians and regulatories,

they've never run a business.

They have no idea what it takes to meet a payroll

and to hire people and make a profit.

And I think that's a big problem.

These regulators think their whole purpose

for being is to pass more and more regulations

and put more onerous burdens on our businesses.

And look, if you drive those businesses out of business,

the people who are hurt obviously

are the workers who get thrown out of jobs.

Well, all right, we've got to go over these tax cuts.

Now is there sentiment in Congress,

can we get tax cuts through?

Or are there going to be people who-- course, the Democrats

are going to oppose anything.

But are there enough Republicans to jam it through the Senate?

We need your help on this one, Pat.

I think that the Republicans are talking

about delaying taking up this tax bill until maybe the summer

or fall of this year.

I think that's way too long a delay.

I think that Donald Trump should announce in his February

State of the Union speech that he wants this done in 100 days.

It's a vital priority.

We've got, you just saw what happened

at the end of last week.

The fourth quarter economic growth numbers came out.

They were miserable, 1.9% for the fourth quarter, 1.6% growth

for the year of 2016.

I mean, that's just not going to cut it.

That's not enough growth to get Americans back to work.

We've got to make these tax cuts a priority.

They have to get done right away.

This is, as you know, Pat, this is what Ronald Reagan did

when he was president in 1981.

He didn't, he didn't wait six or nine months.

He got that tax cut passed right away.

And you remember how amazing that was for the economy

and the big boom we saw when those tax cuts took affect.

Took off like a rocket.

They won't get a comprehensive bill,

which we'd all love to see.

But what elements do you think they

can put in place in a hurry?

You've got to get those business tax rates down.

We have the highest business tax in the world.

Can you believe that, Pat?

We have the highest business taxes in the world.

I mean, that's just stupid.

Why would we impose these high taxes on our own businesses?

So we've got to bring those down.

A lot of these companies are moving

to Ireland or Canada or Germany or China and Mexico

because the taxes are lower.

That's not the only reason, but it's a big reason.

So let's get, here is the idea, Pat.

You're going to love this.

Let's go from a 35% tax rate on our businesses,

which is the highest in the world,

down to 15%, which would be one of the lowest.

Now you know what that impact is going to be.

These companies are going to come back to the United States.

And by the way, a lot of them have already

said if you cut that tax rate down to 15% or 20%,

we are going to invest more in America.

We are going to hire more workers.

So that has to be the priority.

Say, what about the spending cuts?

He's talking about a trillion dollars over 10 years.

What will be cut, do you think, to get that number?

Well, you know, bigger numbers than that

even, perhaps trillions of dollars of spending cuts.

And that means he wants to increase spending

on the military to rebuild our military.

He wants more infrastructure spending.

But almost all of the other domestic programs

are going to take some severe cuts.

I mean, my goodness do we really need to spend $60 billion

on the Department of Education when

it has almost no effect on local schools

and people's communities around the country?

Do we need a Department of Energy?

For goodness sakes, let's just have the free market work

in energy.

We can cut subsidies in agriculture.

We can cut corporate welfare benefits.

So I think that there's significant room

for improvement.

One statistic, I'll give you one amazing statistic.

Did you know, Pat, every year according

to the federal government's own accountants and auditors,

the federal government spends $160 billion

on erroneous and fraudulent payments in Medicare,

Social Security, food stamps, earned income tax credit.

That's amazing.

I didn't say $160 million.

I said $160 billion.

Well, a billion here, and a billion [INAUDIBLE].

Before long, you're talking real money.

All right.

If they put these moves in, how fast can the economy grow?

That's a great question.

I think it's going to take a little while,

but I think you can get to 4% growth,

up from 1.5% growth which we had last year under Obama.

I think by the end of this, give us to the end of this year.

It takes a little while for these policies to take part.

But look what's happened to the stock market already.

Look at what has happened to small business confidence.

Look what's happened to consumer confidence.

All these indicators are pointing to the fact

that businesses and consumers and employers

like what Donald Trump is talking about doing.

Now we've got to get Congress to implement it.

Well, we've freedom.

I mean, like "Gulliver," the Lilliputians are losing

and the giants are winning.

Steve, thanks.

Yeah, but they're not going to hold this guy down.

Like you, he's not to be held down.

I mean, I've never seen, look, I traveled with Donald Trump.

I spent a lot of time on the campaign trail.

I've never seen anybody who is so committed.

And one of the reasons liberals are so angry right now,

Pat, is this is a guy who is a politician, who is not actually

a politician, he's a businessman turned

politician, who actually is doing what

he said he was going to do.

He's keeping his promises to voters.

Unbelievable.

Steve Moore, thank you for being with us.

Come back soon.

Thank you.

All right, great guy.

Ladies and gentlemen, if they just open their eyes

and let the Lilliputians go, let's

kill off the Lilliputians, and let's have freedom.

Let's let the giants come free.

This giant is our economy.

The American spirit and the American economy is awesome,

but it's been tied down.

And now you've got this ex-president carping

on the sidelines and criticizing his successor,

unprecedented, unbelievable.

All right, Barack, you've had your shot

and you ruined things.

Now get your hand off the till and let the big boys get in

and make it right.

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