dow is not under water but not up a whole lot. about a percent after all of this. but about 5% from its highs. so we'll keep an eye on it. trish regan will as well. as we take you to a new hour. hey, trish. trish: hey there, neil. we have a major selloff under way. we are off the lows of the session. we were down well into the 400s. we're off just 321 now. this is not a convenient thing to be happening now. the president is landing in ohio. in just a few moments he will be touting his tax reform at a factory plant there. i'm trish regan. welcome to the teleagainst report on this day when we were watching a very big selloff. nowhere to hide except tech. intel, microsoft, in dow 30 all doing well, however the rest of the dow in pretty negative territory right now. we have a lot of concerns about inflation. in other words, things are looking up. the our economy is getting

better. earnings are getting better. so at what point to people start toe say, well the fed is going to raise rates, interest rates are going to go up, so that whole trade we moved into equities may not work anymore. maybe we need to pull money out of stocks and put them back into bond which are a bit more of a sure shing if they pay us an interest rate? this rotation is starting to actually happen. you think about it, really isn't that bad of a thing. we want to go straight to the floor of the new york stock exchange, where we find our own nicole petallides with things what is moving there. hey, nicole. >> trish as you noted, obviously back and forth action. a lot of volatility. dow down nearly 500 points after last week with we lost over 4%. 1100 points, worst week in two years. when does it end? what are people thinking? dow jones industrial average is down 340 points, most of the losers with tech showing glimmers of hope. look at some big laggards right

now. we're looking at exxon, johnson & johnson, pfizer, 3m. these are the worst of the bunch. 27 of the 30 dow components are in the red. traders are watching technicals. we're right near the 50-day moving average on s&p 500. hey, i picked up exxon here today. it is really getting beaten down. i think they're back to some of the fundamentals be trish, looking at lines, charts, prize to earnings ratios, instead of saying hey that looks great on the run up, they are now being more careful. back to you. trish: thank you very much, nicole petallides. joining us with more kevin kelly and heather zumarriaga. heather, this is normal, right? markets don't go up every single day as this market has been. i wonder if people start to say there is a little more out there, if the economy is doing well, guess what?

we shouldn't pay around two and change percent wise for 30-year treasury. >> you're right. historically 10-year yield and inflation and gdp, atlanta projecting 5.4% in first quarter. that is stellar growth numbers. wages are picking up in the economy as friday's jobs data revealed, 2.9% increase in wages. despite the market selloff today, things are looking good from an economic standpoint. >> that should eventually mean good things for stocks, kevin. i don't think it is inconceivable at 26,000 and change, some people might have thought we were getting a little bit frothy there, a little bit rich. let's see how tax reform plays out in the way of corporate earnings but it is clear people are betting on a stronger economy, thus inflation in the future. >> i think it is important to note this is very healthy for

the economy and actually for our capital markets. as you know, that most bull markets end when you start to get reflationary signals or recessionary signals. we don't have a recession on the horizon but you saw sentiment at the all-time highs. the fed is starting to take away the punch he will bo. it is estimating they could be raising rates four times this year. there is 25% chance of that happening. that is up from 13% from the week prior. so as you alluded to earlier in the segment, trees don't grow to the sky. this is when you put money back to work. starting to see cyclical sector which was a leader, technology, do well now. the market is trying to digest what happens when you get rising wages with bonds selling off. that will affect the cost of capital this is it healthy growing plains for the market. we're entering a new phase of the capital markets right now. trish: if this is all healthy, everybody in some ways, heather,

they ought to take a deep breath, not like we have some systemic crisis on the horizon. it could be that stocks are a little overvalued. we need to wait and see how earnings shake out. in the meantime there might be more attractive instruments out there. all of sudden you don't have to rush into the puerto rican bond anymore. >> that's a good thing if this become as buying opportunity. my advice to the retail investor to wait. if you haven't, if you're not already in, wait a little bit longer. i think markets could go down a little further from here, whether last as few days or a few weeks. i don't predict 2008 recession type move, given because the economy is so strong, trish. trish: this may be happening right now because the economy is so strong? >> exactly. trish: because they will raise rates. don't you think it's a little bizarre you can borrow for 30 years -- >> near zero.

trish: been like nothing? are we that pessimistic about our future we think 30 years from now there will be no inflation in the economy? go ahead. >> so i just want to hit the point that you brought up earlier, i don't think this is a good time to be buying bond because if the economy is getting stronger you will see interest rates tick up as well. trish: yes. >> so don't buy bond, they will go down in price, right? they have the inverse relationship. you could get a stronger yield elsewhere, buying it at lower cost. trish: what does an investor do then? if you're nervous about equity valuations, hey, interest rates are going up, i can get a better deal on a bond in terms of yield, if i just wait and price -- >> you have to pick and choose in the financials. stay away from wells fargo. we see what is happening today with them. you go into stronger company like jpmorgan, that will benefit from higher interest rates. you will want to go into companies like in the tech sector that are expanding

overseas because dollar is coming down. at same time, guess what, they don't have any debt on the balance sheet. will not affect them if interest rates go up. if they have so much cash, they will increase dividends and buy back more stock and increase m&a. trish: heather, i have to ask you, over the last eight years, i talked to a lot of investing professionals, warning of the great rotation t was definitely coming. any day now because they couldn't quite understand why the stock market was continuing to move higher even in the face of such little economic growth during the president obama years which you could make the case the fed helped really support those markets. and it was, the whole reason behind sort of that. >> easy money. trish: easy money, yes. everybody at some point kept saying it is going to end, it is going to end. it will be fast and quick and

brutal. so let me ask you, is the end in sight? >> i don't think the end is in sight. i think that the bull market is long in the tooth so to speak. i guess we're in the eighth or ninth inning of a nine inning game after eight years of a great recession. you don't have to see the equity market correct to levels in 2008. you don't have to see but a pullback is necessary around warranted. trish: think about it with tax reform. i don't see how you see that because valuation would have to be higher based on earnings. >> i just need to jump in here. i don't we're closer to eighth or ninth inning. the fed artificially manipulated rates down so people were chasing risk. now fiscal policies are driving economy, not monetary policies. that is what the federal reserve was consistently asking for. we have a growing economy at healthy pace, 2.9%. wage growth, that is healthy

inflation, not one-off events getting a spike in pricing elsewhere. >> yeah, we're no longer hooked on monetary morphine, i agree with you, kevin. at same time the fear of missing out on retail investor plowing into these markets since trump was elected, we're still up 39% under this administration. so even a 10% correction in the market, really isn't that big of a deal, this from a psychological standpoint but not from overall buy and hold investment standpoint. trish: i talked to a lot of retail investors that are worried right now, oh, my gosh, look what happened friday, look what happened last tuesday, look what is happening today. look i need they money. i have dividend stocks or portfolio -- >> take some profits. >> would you recommend though -- they're fearful right now. you have a market down 400 plus. do you really want to sell into that, heather? >> i think you do take a breather here, not necessarily sell into it.

i think is a lot of institutional selling right now, not the average retail investor because they kind of got in late in terms of the past few weeks and months, again fear of missing out. but if you don't have money, if you have cash on the sidelines, you don't have money invested in the equity markets i think you can wait here. wait a little bit. trish: so it is still going lower? >> sound like kevin kelly he might be going, he might be buying up -- >> i don't know how you can't buy right here because two weeks ago, people were like, oh, i wish we got a 5% correction so i can put new capital to work. when you look at dow transports, they're trading at compressed pe to the overall market, when you get into airlines growing from healthy economy, and trading 10 to 12 times earnings, paying out dividend this, is rebalancing that is happen. >> there is value in the transport sector. i would say take a look at the energy sector at some point in time, that has been hit hard, for a value play.

trish: good to see both of you, kevin and heather. thank you very much. the president landed in ohio. he is on his way to a factory where he will speak about his tax plan and what it will mean for the average worker. kind of tough for him, jeff flock on a day when the market is off 400. as we've been saying the fundamentals in this economy are improving. one would think he would stress that, jeff. reporter: and the ceo of this company which is called sheffer, it is a corporation that makes cylinders, hydraulic cylinders and everything from rock crushing machines. we're looking over my shoulder here for the president. he will come up this road in just a bit. this is the company over here. this is one of those giving out bonuses, a thousand dollar bonuses to each of their employees. a small company, about 120, 130 employees or so, they're getting 1000-dollar bonus. another big company did the same today, anthem health based in indianapolis. the ceo there giving 58,000

employees $1000 extra in their retirement savings accounts. ceo and i quote, from her now, who said, this new program is an opportunity for to us thank our associates and also insure that they benefit from the recent changes to the u.s. tax code. that is anthem ceo. folks they're starting in february to get additional money in their paychecks as well as those gotten bonuses. i expect that is what the president focused on. i joked earlier today that the president as we wait, i thought i heard something there, maybe not. i joked that the president has said that you know, we'll get tired of winning, we'll win so much. maybe we're a little tired of winning. we'll take a break from that in the market. we'll win more later. trish if. trish: that is one way to put it in perspective, jeff flock, thank you so much. markets are down considerably. almost down 400 points on the dow. we're off the lows of the

session. we had been well up above 26,000. we have given back a lot between today, between friday, day before that. of course you will recall tuesday, the sate of the union address the markets were down considerably. we'll have much more on the volatility. is volatility back for good on wall street? that's next. ♪ so from the two trucks over here...

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trish: we're down more than 400 right now. pretty bad day here. at one point nearly 7% losses on the dow. i'm joined by "bullseye brief" author, publisher, founder, adam johnson who makes his living picking these stocks. >> yes. >> and calling where they're heading and you have been extremely optimistic since the night the president was elected, and you were right. so what are you thinking now? we have had quite a few days of losses now. >> yeah, we have, but you know what? january this year, the one we just experienced was strongest start to the year, trish, since 1989. you think about how far you have to go back, i mean that's what, 38 years. we're just giving a little bit back. that is what is happening. we're giving it back because rates are going up. rates are going up because

inflation is going up. i know. that is a good thing. that is because people are making more money. they are spending more money. that is generating corporate profits. it is robust story. as we were talking about last week, this is amazing to me, trish, i've been saying gdp will go to 4%, right now it is about three. the atlanta said came out and said 5.4%. that got everybody freaked out. we're much better off than we thought. now the fed will have to raise rates sooner than we thought and that is going to extinguish all the excitement. now we'll sell off. no, it is a period of adjustment. we're getting used to the fact, at that trish, rates are going up. the fact that this economy is incredibly robust. it is not just the u.s., it is globally. there is period of adjustment. we're ault -- all dealing with it. it is okay. trish: what thing that really bothers me about the low interest rate environment are we pessimistic 30 years you don't deserve to get paid a whole lot

more whatever you're lal -- allowing the u.s. government to borrow. >> crazy. trish: it is crazy. like we don't think anything will change. >> we've been living in at list in wonderland dream world. the fed came in when nobody would buy anything. they created a bid. we needed the fed. the thing is, they stuck around too long. they are kept rates too low. >> no one in washington doing a darn thing. >> we know what the short fall was in pennsylvania avenue. fortunately we amended that situation. but we're getting back to normal. the fed should be raising rate. that is great for savers. the story is one of growth. it is not one of trying to shut town the economy. about getting us back to normal. getting rates to where they belong. trish: getting people paid this is happening on a day when the president is in ohio. he is touring the sheffer factory, talking to workers. 129 of them to the 1000-dollar

bonus as a result of the tax reform plan. >> love it. >> one of the biggest issues has been in the last decade, frankly the last three decades, how do you increase wages? right. trish: how do you change that equation whether, and how is it that you can have unemployment been at such a record low, not seeing an increase in wages. we've been waiting for it. waiting for it. now all of sudden 2.9% wage growth, adam johnson. >> love it. that is a great american story. that people are getting paid what they deserve to be paid. i would argue quite frankly, these low rates that we've had for several years, while yes made it cheaper to buy a house, arguably made capital decisions kind of inefficient. if you're company, it is easy money. no urgency to do something. if it's a marginal project you will do it because cost of capital is chief. if the cost of capital is cheap,

you're not necessarily looking at your business rationally, you may not be paying with your people what they deserve to be paid. we're starting to get back to prioritizing projects. it is all healthy,. trish: what does it mean for invest doors in the near term? what heather was saying earlier this is inciteful, we had been running up, up, up. you made the point we had never seen such a massive increase in the start of the year, not since the late 1980s. >> right. trish: does that mean, 25,000, 23,000? >> no. trish: once earnings kick in as a result of tax reform we start to go back higher? >> earnings have already kicked in. if you look where the fourth quarter reporting season is tracking, that is earnings we're getting right now that is up 11 or 12%. that is incredibly powerful. add 200 billion in tax reform stimulus, 200 billion in physical stimulus, yes, washington will pass a budget and might get the infrastructure plan, at 1.5 trillion is twice

what i thought, what the president said, you will get earnings growth this year, 20%. that is a very powerful argument in favor of stocks, trish. can i tell you one other thing? trish: yes, please. >> wind me up. i will keep going. there have been eight corrections of 5% over the past five-years. the average correction was 7.8%. on the lows today we were down 6%. i think we're getting pretty close. this is normal, just part of markets, and adjusting to changes in the economy. trish: very, very quickly, we're getting a wrap signal. we have to pay bills. anything you're buying right now? >> oh, yeah, there are a ton things to buy. i like ge way down here. i like ford way down here. i already said cbs board to buy viacom. i think viacom buys cbs. i like biotech. i'm not buying amazon but it is up today. people are buying select sieve

value. trish: they can find it on your website. >> yes, "bullseye brief." trish: thank you, adam johnson. we have another big story, the fallout over the republican release of the memo, that alleged surveillance abuses. president accusing democrat adam schiff of releasing sensitive information. will the president allow the democrats memo to be released? that is next.

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trish: i'm getting you back to this market right now. we were down more than 500 points just a couple seconds ago. you can see the market really struggling today as the investors think about the new world order, what do you know, we actually have a good economy. if you have a good economy, that means the fed needs to raise rates, so they may do so more quickly than anything we've seen in the last 10 years. if that happens, well, it is good for savers, but means interest rates are going up. but it means investors can think about whether or not they really want to be in stocks.

maybe they are better off in bonds, fixed income, safer instruments? so you're going to see this push-pull in the market right now as people try to reassess. that is what is going on with the dow at 25,000. still well up over 35% since the president was elected. plus the s&p trading down almost 2%. nasdaq down a percent, but who can argue with 7149 when you think what the nasdaq has been through. we're waiting on the president. he will be speaking in ohio. he is blasting the ranking democrat on the house intelligence committee tweeting, little adam schiff who is desperate to run for higher office is one of the biggest liars and leakers in washington. adam leads closed committee hearings to illegally leak confidential information. must be stopped. schiff responded, mr. president you had busy morning of executive time, instead of tweeting false smears. the american people would appreciate it if you turn off the tv, solve the funding

crisis, protecting "dreamers" or really anything else. the president went on to call adam schiff's republican counter part, devin nunez a great american hero. blake burman live at the white house with details. you know, look, blake, i think the big takeaway for people here, is this was kind of a big deal and despite what some like james comey have said, that's it? no, there is a lot there that i think should be of serious concern. of course we would like to see it all. we need to see what the democrats are saying. i personally would like to see the actual documents themselves, the raw intelligence as much as we can, just so that we can all make our own assessment of this divorced from political prisms. reporter: the white house is leaving open the possibility to this fisa application being made public, if it gets down to that point. that is still a very long way aways though, trish that came aboard air force one as raj shah, the principle deputy press

secretary spoke to reporters briefly. he was asked about the democrat memo that the house intelligence whit tee will meet next few hours up on capitol hill. raj shah saying the white house is open to further progressing the memo, getting it to the light of day so long as it meets the same process the republican memo went through. as long as it undergoes legal review, national security review, gives president five days to discuss. they're leaving the door open. still a long way to go, taking that up the house intelligence committee, the democrat memo here soon. speaking of the intelligence committee the top republican is devin nunez as you know. earlier today he said that there is potential for more memos or more documents down the line in which he described as a phase two. >> what we're looking at now is a state department and some of the irregularities there. we have several other areas that

we're looking at but i don't want the american people to think we'll have a memo that will go through this process. what we will do, we'll follow in phase two, we'll follow the facts where they lead. when we get enough facts we'll figure out a way to let the american people know. reporter: over the weekend president trump tweeted this memo totally vindicates him in the bob mueller special investigation, special counsel investigation. one of the top republicans up on capitol hill, congressman trey gowdy, who was intricately involved in the memo, took exception to that tweet. >> the dossier has nothing to do with the meeting at trump tower. the dossier has nothing to do with an email sent by cambridge. the dossier has nothing to do with george pop -- papadopoulos's meeting or obstruction of justice. there will be a russia probe even without the dossier. reporter: trish, you read the

tweets. we're off to start the week. the president and top democrat of the house intelligence committee going after each other on twitter. happy monday, trish. trish: blake burman, thank you very much the markets off 520 points on the dow. pretty big selloff as investors get acquainted with new kind of normal. that means there will be competition for equities. the fed no longer keep the money spigot open. it means rates will be going up. as rates go up, the cost of borrowing gets more expensive and, well, fixed income instruments look more and more attractive. joining me right now, american majority ceo ned ryun. we'll sort of weave politics and economy here together, ned. this is a president who is very proud of the upside this market has seen thus far and continues

to tout it. does he have any concerns that you own it on the way up, you have to own it on the way down? >> i don't want him to tie himself close to the market. >> hang on. hang title. the president is speaking. let's listen in. [playing "hail to the chief"] [cheers and applause] >> i love the state of ohio. what great memories. we're starting to boom, you know that. great to be back in ohio. be here with the hard-working men and women of sheffer corporation. congratulations. [applause] we have a lot of great people with us today, we have our treasury secretary steve mnuchin. [applause] a man that you know very well that has done an amazing job, a

great job helping us with the massive tax cuts that are helping everybody so much. and everyone has fallen in love with it. rob portman, he knows his stuff. thank you, rob. thank you. [applause] terrific guy, a friend of mine, from day one. he has been behind me from day one, jim renace. jim, thank you. [applause] jim has been a great friend of mine. lieutenant governor, mary taylor. secretary of state john husted. [applause] and another great friend of ours, brad wenstrup couldn't be here. army reserve duty. that's okay, right? that is a good excuse. that the is only excuse we would accept. great guy. [applause] i want to thank you all, and i want to thank jeff norris and everyone here at sheffer corporation for hosting us at this really incredible facility.

we just toured it. i love equipment and i love workers. you have them both. that is really a wonderful place. i'm here, in the beautiful cincinnati. i'll tell you. i was here, worked here for a long time. most people don't know. swifton village. you really know swifton. had great success with my father. it was young success. maybe if i didn't have the success i would have gone done something else, who knows. but i spent a lot of time in the state and lot of time in cincinnati. i love it. what i want to do, is give something very big back, that is tax cuts. i sawned into law. your paychecks are going way up. [applause] your taxes are going way down. and right now, for the first time, in a long time.

and i've seen it. factories are coming back. everything is coming back. they all want to be where the action is. america is once again open for business. all right? [applause] we've already created nearly 2.6 million johnson since the election, including more than 200,000 new jobs in manufacturing. we love manufacturing. those are real jobs. not the other kind where they talk and nothing is there. we're bringing back those magnificent words, made in the usa. [applause] we'll count usa as one word. i have to think about that one. unemployment claims have hit a

45-year low. think of that. i mean, just think of that. [applause] something i've been talking about to two years, campaigning and everyone said you'll never do it. after years of wage stagnation, wages, saw what happened two days ago, and a month ago, wages are now the first time in many years rising. [applause] in fact more companies are pursuing pay increases right now than at anytime in the last long period of time. they actually say, in the 21st century. can you imagine that? amazing what people with some good ideas can do. amazing what we've all done together. this has been an incredible journey. but, it is happening even faster and wait until you see gdp over the next year or go.

wait until you see what happens to our country. because people can feel it. billions and billions of dollars are being poured back into the united states. at the center of america's great resurgence are the massive tax cuts we passed before christmas. remember two things, i said we were seeing christmas again and number two, i said i was going to give you a christmas present. [cheers and applause] and, i don't know if you remember, i was going to sign it around january 5th. then i heard one of the hating groups on television, he promised a christmas present. here is thing hasn't been done in long time, really many years, never done to this extent. you include anwr which is tremendous energy potential. you include getting rid of our individual mandate, the worst thing there is in obama care, which leads to the repeal of obamacare. when you look at those things, it hasn't been anything but i

said i want to give them a great christmas present, january 5th. he didn't make it with the christmas present. i said, move the bill up. it was rather inconvenient for lot of people. we have to sign it. so we signed it just before christmas. better right? better. otherwise i would have been hearing, rob, he did not fulfill his campaign obligation or promise, right? now they can't say it. one more thing we check off the list. but it is the biggest tax cut and reform in american history. and at the heart of our plan is tremendous relief for working families and for small businesses. a typical family of four, earning $75,000, we'll see an income tax cut of more than $2,000 a year. and you're already seeing it.

slashing their income tax bill in half. [applause] we nearly doubled the standard deduction, meaning the first 24 how dollars earned by -- $24,000 earned about i a married couple will be 100% tax-free. not bad. [applause] we have doubled the child tax credit. that was compliments very much of ivanka trump. she would press us, right, rob? [applause] she would press us. pretty amazing. but we got it done. not easy. and we had, by the way, we had no democrats. we had nobody, not one. including your other senator, voted against it. he voted against it. i don't care, republican, democrat, they voted against it f they ever got in and they ever took over your taxes would go

way up, you would see bad things happening that would not be good, that i can tell you. when i signed the tax cut six weeks ago it set off a tidal wave of good news that continues to grow every single day. before the ink was dry companies were announcing thousands and thousands of new jobs an enormous investments to their workers. apple announced a 350 billion-dollar investment in america. when i heard it, no, they mean 350 million. because i've been saying to the head of apple, good guy, tim cook, from the beginning, soon as i first met him, i said, tim, it is not complete until you start building plants in our great states. otherwise, when you build them where you're building them, i'm not interested. you got to build them. the reason it is happening because of what we did. i heard the number. i heard 350. i figured it was $350 million.

that is a big plant. 350 is big. even for your great company it is big. so i figured they're going to build a big beautiful plant someplace. then they came to me, said, sir, it is not $350 million, it's 350 billion, right? that's a big number. [applause] i would have been happy with the 350 million, but you know, i like this number slightly better. and they're going to do incredible things. they're going to build plants. they're going to build a tremendous campus. they will hire 20,000 people. mobile announced a man fantastic 40 million-dollar investment. exxonmobil. fiat chrysler announced 2500 jobs are coming back to detroit, motor city. 2500. you know where they're coming from? mexico. think of it.

[applause] nothing against mexico. we are renegotiating nafta, i can tell you that we are renegotiating. i've been telling you that for a long time. either you renegotiate or you terminate. [applause] but we're renegotiating. we'll see what happens. but chrysler, leaving mexico, coming back to motor city with a massive plant. i mean you haven't heard that in, how many years would you say, rob? 30, 25? we're reversing it. and many other companies are coming back and many other car companies are coming back. a lot of them, which is most interest of you, are coming back to ohio. they're coming back here, right here. [applause] and right here in cincinnati on this very beautiful factory floor the sheffer corporation announced that every single worker was getting 1000-dollar tax cut bonus.

you're so generous, thank you. [applause] congratulations, everybody. that's good. hard-working, patriotic americans like you are what make this country run and run like no other. we took away all the pride and so much of that incentive and we're losing so much companies and so many jobs. how long have been talking about this? 10, 15, 20 years. some of you heard me saying this as a private business bern, we're losing all jobs. we're losing all of our companies. they're coming back. it is your grit, and your pride and your determination to do the job right. it is the foundation of american strength and the key to america's future. you can work hard, but if you don't have the right leader, setting the right tone, i'm not

even saying i'm non-braggadocios, if i don't set a tone like you're not going to keep taking our job, you're not going to keep doing what you're doing, if you see what is happening over the next two or three months with what we're doing, countries that treated us so unfairly. in many cases so-called friendly countries, i don't call them friendly, i don't call them friendly, but it is all changing and the companies are coming back and those jobs are coming back. you're among more than three million americans who have received a tax cut bonus because of the tax cuts that we just signed into law. everywhere i go, i love to hear what people plan to do with the money. so i thought we could take a few minutes to hear from some of your coworkers. you know who i am talking about, right? i assume you like these people. i assume it is central casting, right, boss?

tyler berkshire, do you know him? joined sheffer corporation through an apprenticeship. come on up here, tyler. six years ago. [applause] now he is a machinist and a talented one. [applause] nice to be loved. nice to be loved. i figured they would only send popular ones up here. the unpopular ones, don't worry, you don't have to worry about. in addition to his 1000-dollar bonus, his paychecks are bigger because he is paying less taxes. tyler, you're up here, i'm going to give you a chance like maybe 30 seconds or less, to explain what you're going to do with all the extra money in this case over $1000. [applause] >> thank you, mr. president.

and, with the tax cut and the bonus i will be trying to save up money to start a family and eventually get a bigger house. so -- >> i like that idea. that's good. [applause] and i appreciate all your hard work that you've been putting in. and all your, rob portman and everybody else. so, just want to say thank you. >> i appreciate it, tyler. that is beautiful. beautiful job. thank you, tyler. beautiful job. that is good guy, jim, huh? i think they will probably be very supportive of you. i think everybody will be supportive. we need people that will do a great job. keep us in the right direction. you know? we need them badly, too. or it all goes back to where it was and worse. but did we catch them in the act

or what? you know what i'm talking about, oh, did we catch them in the act. they are very embarrassed. they never thought they would get caught but we caught them. hey, we caught them. so much fun. they're like, the great sleuth. dina poletti is also with us. she joined sheffer, come on up, dina, in 2012 as a customer service rep, has climbed her way all the way up to become a manager. dina is looking at a tax cut of $1500 and that is on top of her $1000 that sheffer already is giving her. so that is $2500 plus. what are you going to do with the money, dina. how are you? >> thank you for being here. when they asked me what would mean to my family is the same that it means to all hard-working american families

right now reaping benefits of your tax cuts. it means we'll have more money in the bank. more money to make ends meet. personally for my family, my husband tim and i are in process of buying a home. both of my kids, will be going to college. we'll use that money like a bonus. we received, thank you, sheffer, a one-time bonus but ongoing bonus in our paycheck every week. it will help us make ends meet. >> wow. thank you. [applause] beautiful. i'm glad she is not running against you, jim. that's very good. thank you very much. she is doing a great job in good like tyler and dina, millions of workers are thrilled to have more money to save for their children's college or to fix their home or put aside money for a rainy day but believe it or not, nancy pelosi, those in congress who want to raise your

taxes, they want to raise your taxes, they don't want to give the money to the military where we need it. without the military we might not be here. [applause] or we might not be here for long, believe us all. nancy pelosi, what she is doing to this country, and she has gone so far left and schumer has gone so far left, oh, i look forward to running against them. we've got to do well in '18. i know we'll do great in 20. i think we'll do well in '18. i think we're going to do very well. [applause] they have gone left. they want to raise your taxes. you know, i figure we're safe. historically when you win the presidency, you know the story, just for whatever reason it is, i think i figured it out. nobody really has been able to explain it properly, i think i figure, the party wins the presidency.

and now the people are happy and you see tax cuts in this case or whatever that party is but you see big tax cuts, see what you're doing, jobs are coming back. and people that voted for us become complacent a little bit. they're happy. it is only two years between '16 and '20. and such a short time, so the people are happy. and they don't get out and they don't vote like they should. maybe they go to a movie in '18. none of you are going to a movie, i hope, right? what happens they sort of take it for granted and sit back and get clobbered because the other people are desperate and they get out and have more energy. but i think because of what we've done, because of the tremendous success we've had, ii have a feeling that we're going to do incredibly well in '18. i have to say this history is not on our side but it is not because of that word, complacency, you win the presidency, you take it easy and

come and surprise you. in the midterms, they call them the midterms. we got to get out there and win, owe they will take, i say it, nancy pelosi, chuck schumer, they want to raise your taxes. they don't want to give the money to the military which we have to, our military because of obama, even beyond obama, it is depleted. it is in bad shape. an we're going to build it stronger than it ever was before. we've already started. we've already started. [applause] that's what happened. that's what happens in midterms. we're not going to let it happen to us. traditionally that is what it goes on. [shouting] >> i love that person. i knew i liked that man. thank you. we're going to be in there fighting because we don't want that tradition to go. we want to have tremendous

success. we want to get jim in, a lot of other people in. we have to have tremendous, we have to have tremendous success. and if we don't, we're just foolish. i know we'll do great in '20. by that time, see what happens is, if you did badly in '18. now you're all angry again. now '20 comes along. we want to do great in '18. we'll do really well in '20. when we go again and we keep this great journey going, okay? [applause] so, start thinking about, start thinking about '18. start thinking about november. start finding out exactly that little slot. you're not going to a restaurant, although you could, you could go and vote and go to a restaurant but, that's what happens rand we're not going let that happen us to. in addition to bonuses created by our tax cuts, economists estimate that our business tax cut will raise the income of a typical family by an average of

$4,000. [applause] nancy pelosi said that is crumbs. she is a rich woman who lives in a big, beautiful house in california. who wants to give all of your money away. she talked about crumbs. i think her statement about crumbs. you're getting thousands and thousands of dollars, getting it everier. >>. so i think her statement crumbs will be equivalent, i said this the other day for the first time, when i first heard the word deplorable, i thought it was a bad thing but i understand no idea it was not going to be good for our opponent. it was not good, because about two days after she said it, i go to a rally, and everyone is wearing shirts, i am a deplorable. we're all deplorables. i said what is going on with the word deplorable, rob? we had that right?

[applause] it just went pretty wild. it was not a good day for her. i think this is not a good day for nancy pelosi. she's our secret weapon. no, she is our -- i hope they don't change her. there are a lot of people that want to run her out. she's really out there. i'm supposed to make a deal with her? you know the other day, did anybody happen to see the state of the union address? [cheers and applause] okay. i got good marks. i said you have the lowest black unemployment in the history of our country. it was a game, you know they play games. they were told don't even make a facial movement. i'm talking about, you have the lowest hispanic unemployment in the history of our country. this is not me. this is the charts, the polls.

we have the lowest in the history of our country. dead silence, not a smile. in fact there was one guy i said the lowest african-american unemployment, he sort of clapping, like, who was that guy. he is a nice guy. i think he was a reverend. and i wouldn't say it was exactly a rousing but he, he was putting his hands together. i want to send him a letter of thank you. he was probably severely reprimanded, you think, rob because he was the only one! they would rather see trump do badly, than our country do well. that is what it means. it is very selfish. it got to a point where i really didn't even want to look too much during the speech over to that side because honestly it was bad energy. it was bad energy.

you're up there, and you have got half the room going totally crazy, wild, they loved everything. they want to do something great for our country. you haveyou have the other siden positive news, really positive news like that they were like, death. and un-american. un-american. somebody said, treasonous. i mean, guess, why not. [laughter]. can we call that treason? why not. [applause] i mean they certainly didn't seem to love our country very much. but, you look at that and it's, it's really very, very sad. so, we have to keep it going because this country is turning and turning much faster. i said i'm going to do it, but it is happening faster than i thought. a big part of it is is the fact that the companies kicked in. nobody saw that. at&t came in. another one came in, comcast, so

many companies kicked in hundreds, now it will end up being thousands of companies. this company too. it's a little smaller than at&t but we'll take it. for the people in this room it is much more important than at&t, right? [applause] great companies like this. and that is honestly, we said come february 1st, nobody is going to beat it, because you're going to get your checks, you will see you have more money. because they're taking a lot less taxes out of your check. and i just don't think that anybody can beat it. and, senator brown voted just remember that. he voted against you. not good. we've gone from being one of the highest tax countries anywhere in the world to be in one of the most competitive because when our workers have a level playing field which

they didn't have they can compete and win against anyone in the world and that goes for our companies. they don't want to commend that's okay. but they will not be so happy. who really wins. our country wins. we are one team one people. and we're saluting one great american flag. we have made a lot of improvements. that is a big improvement. on top of that is a good game.

we are thrilled to be joined by several business leaders who understand just how true all of the things we are saying are. were also thrilled to have a lot of the fake news media in the back. they can't cut you. when you do a tape what happened to the four sentences they cut out. that's true. a lot of fake news there doing their thing. i want to start with the manitowoc sedan fox and he was terrific. [applause]. we