Key Capitol Hill Hearings CSPAN October 14, 2015 7:00pm-8:01pm EDT
very low interest rates -- there is no sense that there is recovery. i think it is important to recognize the frustration israel. we have not seen real wages rise in this economy. people have given up to a great extent in some cases. we aren't seeing the traditional vehicles for rebuilding wealth workout very well. i don't blame anyone for being terribly frustrated. host: so if there is no solution that is politically realistic from washington, what does the average american do to try to catch up on their wealth? guest: there is no magic, right. what do you do? you work and you say. and you have to figure out what is your tolerance for risk when you save your -- you say. treasuries, it in
it is going to take a heck of a lot time -- a lot of time. host: i have to get your reaction to the report this morning that two members of the federal reserve or nothing publicly they don't think interest rates should be raised in 2015. this is, of course, in contrast to what the chairwoman has said. confusedam thoroughly by what the federal reserve is up to. i think they are well past the point of when they could have easily raised rates. this is basically a quarter of 1%. the notion that this will somehow derail this recovery i have little sympathy for. they are spewing also at of uncertainty into the market -- spewing all sorts of uncertainty into the market. sort of getting back to regular monetary policy is long overdue. host: marietta, georgia.
an independent, go ahead. caller: good morning. and i have actually three comments. mr. douglas, i disagree with you when you said that the united states didn't have anything to do with what happened to the world economy. being that we are the global economy, when wall street -- when they packaged those mortgages into investment portfolios, and they sold those portfolios worldwide, some countries had those bad portfolio investments in their country. and when that happened, when that bubble blasted, it became -- [indiscernible] -- then it was the domino effect. secondly, when you talk about incomes. i know my father never graduated. made $12 an hour.
>> you mean the trading in specific? >> that magnified the problem but it was people buying houses they could not afford in the and. but on the income issue issue, there is a tremendous fondness that people have borge '50s and '60s in the wages people made and that was great but remember that was post-world war two when most of the world economy was an ashes in the west
essentially had a global monopoly in rebuilding industries like steel and the commodities that drove that but that is not the world that we live in. the world has recovered recovered, developing countries our competitors competitors, and it would be nice to go back but it is not realistic. host: rochester new york a democrat. >> caller: good morning. they export taking my call. i would like to comment on the $15 per hour minimum-wage. so how much should a college graduate make per hour? and i would like to say --. [cheers and applause] >> now to richmond virginia republican presidential front runner donald trump will speak to rally of his
everybody. i do love virginia. i love virginia. what a place. [cheers and applause] i have a lot of people that work really hard for a guy paid a lot of money, probably too much but that's okay. right? and i have the vineyard in charlottesville. you know, about that. [cheers and applause] and i have drawn national that is the success of malt -- along the potomac land no piece of land like it. it is phenomenal with tremendous success in virginia lot of people work for me, frankly i work for them the way i look at it because the truth is, they are so good that i actually need them more than 83. does that make sense? [cheers and applause] where is kerry? get a peer. she runs of vineyards.
trump midyears. one of the drivers said bringing in people but she runs it and she has done such an incredible job. we took it over four years ago it was in serious trouble to put it mildly now it is close at 2,000 acres actually the largest vineyard on the east coast of this country. it is an incredible, incredible tourist attraction and literally from day one she has taken its with love and pride i have to say this because my wife said i have to save us and you will confirm but i have more women in high executive position
[cheers and applause] in in fact, a the men are complaining. to hell with them. do you like trumpet? >> if you want someone that inspires great news hint demands excellence this is your man [cheers and applause] >> she has done such an incredible job. if i go somewhere i am proud of i like to bring the employees some are here today from the vineyard it is so important especially with the country where the jobs are taken away, going to of places as you know, like many other countries. you can name the country we
don't make good deals anymore. we just don't. so love to bring my people up. we had big news today because i just have to talk about it. in the old days it was called misinformation. did you watch the debate last night? i was on twitter knu believe it? i could not turn off i've made a commitment. somebody said the winner was trump because we picked up 160,000 followers. [cheers and applause] second place was a lot less
cnn can now with the poll in the state of nevada as they can now with another poll for south carolina that is incredible, i said i have to read some of these because it is wild. we are first place everywhere. [cheers and applause] everywhere. you are right. new hampshire, iowa, everywhere. but the polls just came out and as you know, a couple weeks ago we had florida. we are killing it you have a governor and a sitting senator and it is not even close we're at 28 there in
the low teens and we want to keep it that way. i that 29 now i say we should do better because here is what just happened. second place is 22 i won't tell you it doesn't make a difference if you get 38 is almost double but here is what i love done by cnn. cell carolina 36 lease 18 -- / 18 connecticut just came out 34 / 14. [cheers and applause] >> this is what i really like which candidate can best handle the economy?
that is big. 67 percent said trump. if we had to people running when you had 67 percent that is a landslide. the press, let's get the cameras. so many. we'll tell the red lights. showed a crowd. showed a crowd everybody. [cheers and applause] and a lot of people outside the fire marshal would not let inside. but i will tell you which you have 67 percent in a two-person race it is called dave landslide and massive victory. i don't think there ever has been a victory then would
the next category, which is so important, that's okay. -- that's okay. that's all right. [cheers and applause] that is why we have freedom of speech [cheers and applause] and i will tell you, debbie have thousands of people in this room, i think 7,200 people we have 10 people over there they will get the headlines. you want to. that is disgusting. pretty disgusting. but that is the way that it goes. illegal immigration, and 55%
[chanting] thank you very much. that button is great i do see a couple of cameras for four people. it is so disgusting but that's all right. on foreign policy, a trump is number one and 34% on isis who will handle isis? trump 46. we will not play games. [cheers and applause] on how we do in washington how will be change washington? who will do the most effective job? trump. 60%. 60. 60%.
here is the best chance of winning in november, a trump number one. 47%. it is amazing we're number one of 42nd and you get 16 and attended is a big difference. we have come a long way together. we have a lot of bad people out there that want to stop progress that you see all the time. i use the statement the silent majority. they are back. the silent majority is back. [cheers and applause] the silent majority is back. over the last period of time, we have had a very interesting thing happened. we have seen our country where we don't win anymore and we will start winning so
much we will win lifted right and everything we have unbelievable people in this country and nothing will stop us to start to win again. [cheers and applause] look at foreign countries have a take our jobs, our base, everything we have including what is going on no matter what country you talk about, they beat the united states. it is not going to happen anymore. [cheers and applause] it's not. our trade deficit with china
is almost $400 billion. $400 billion per year. per year. and then i see our president entertaining the heads of china and talking about our great trading partners. yes. they are great trading partner for china. not for us. our deficit with japan is $70 billion per year. the cars come in and we don't know what we're doing. resell them practically nothing, relatively speaking. we sell them beef. beef. they sell us cars. go to los angeles the biggest ships you ever seen. the cars are pouring off the and they have no respect for us. and the trade deficit with japan is almost think of
this. japan $70 billion that it is absolutely crazy. go to mexico. i love the people of mexico. i love mexico. i have thousands and thousands of hispanics working for me. thousands. thousands of hispanics and in fact,, in nevada in this same poll i went with the hispanics and everyone is surprised. i will end with the hispanics. [cheers and applause] so the trading deficit with mexico is $45 billion per year. i will build the wall that is something special nobody comes in unless it is legally but everybody said you cannot build a wall i said mexico will pay for
its. they say you cannot do that. you cannot do that. how can they do that? it cost $6 billion it is 2000 you need 1,000, the great wall of china is 13,000 miles and was built to a thousand years ago. we have a wall that has to be built. we have problems coming in like nobody has ever seen before. and has to be built. it has to be built. [cheers and applause] whenever anybody centcom remember this. almost everybody wanted this wall built 10 end 15 years ago the liberals and conservatives wanted it. one of the reasons it was
not built is because they cannot get the environmental impact statement approved. can you believe this? we will build the wall and mexico will pay for it. the stupid people say mexico will not pay for it. we give them billions of dollars we have the trade deficit of almost 50 billion. if you go rolls-royce we talk between five and $7 billion the a couldn't get that many? they will pay that so gladly. i will say this. i speak with our politicians all the time. but i speak loud and clear and i know who we're dealing with. a lot of them are nice people they see will never get them to pay and i realize they are not the
right people to do the job. because with the right messenger they will pay so happily and so gladly they're taking advantage of us at the border, with trade, a very good people but the leaders are smarter than ours and our leaders don't have a clear. they do not have a clear. [cheers and applause] we had a situation where a mother is pregnant. she goes to the border and walks across the border right in front of border control, who were great people that not all are allowed to do their job. she lies down and has the baby they call them the acre baby. now we are responsible for that baby 85 years. i don't think so. we cannot do that. we all $19 trillion we have
a number that is almost unique -- inconceivable. $19 trillion. we cannot be in a position what we're doing anymore. we have to rebuild our country, rebuild our infrastructure. [cheers and applause] we have to repeal and replace obamacare. [cheers and applause] we have to do it. we have to do it. obamacare will cost as more money than anybody would have never dreamt and it is no good. premiums are going up 55%. 45% 60% your deductibles are through the roof you are dead and never get the money the deductibles are so high. we will replace it with something that will be
terrific. [cheers and applause] it will cost our country very little and people can have their doctor, their plan, pay less money coming there sec they don't have to worry about a deductible so high that nothing works unless you are hit by a tractor. we will do that. we will do so may different things to make our
country great again. we will make it so great. [cheers and applause] our taxes, we just put in a planned the other day we will reduce taxes tremendously because we have the highest tax rate anywhere in the world and the middle-class is absolutely destroyed. we is to have the
middle-class that everybody was proud of we don't have that anymore. our veterans are treated worse than anybody. i watched last night with bernie sanders and hillary and the other 38 and even know who the hell they are. who were they? but i watched last night as hillary and bernie sanders could not give things away fast enough and they give it to the illegal immigrants health care, a driver's license, and they're suggesting, listen social security for illegal immigrants so we will straighten things out to do with the right way to bring
immigration under control we don't have a situation like cates in san francisco this guy comes in in five different times it could have been more than that after the fifth time she is shot in the back we will not have that anymore. we will have a situation that is rational and reasonable will keep in the country when somebody goes through a long process with college they go to harvard or yale and a great college university of virginia. great college that is right next to our property. that is a great college radio fantastic. they are so proud of their from another country and want to stay here we say get out there you have to go home then in india and then
open the company now he has 5,000 employees one of the hottest companies in the world and it would have been here. that is what we want purple we want to keep people here to have people come in legally. [cheers and applause] we want to have a big door. i say that all the time. a big beautiful door in the middle of the wall we want to the people to come in but it has to be a legal process. if we don't have a border, and we have people all over this country we have no idea where they're coming from, we belong there have a country. we don't have a country. it is very simple. [applause] we will do with heart and
get along and everything will be great but we will have a country to take back our country and start doing things properly. [applause] when we have countries like the ones that i named, and many others, and people that take advantage of our leaders, they're not smart, incompetent or stupid or don't care, that will end for i have the greatest minds i have already lined up they are calling me. these are the greatest negotiators in the world are calling me. carl icahn. i have all of them. the best in the world. they don't want money, as salaries, they are rich they've made it because they're great negotiators. they want to see the country be great again.
some are nice people summer not i don't care i want the greatest i know the best in the smartest in the sharpest in people better overrated and better than all of them. [applause] we'll hold period and then enabled the in charge of number one china. first of all, i've of china that people are great. they buy might stuff that $50 million all the time i have the largest bank in the world one of my buildings from china it makes to the bank looked as big. i love china but they are taking advantage. i wish our representatives take advantage of them. that would be great. is a one-way street. it is a one-way street to
poverty for us. we can do it. right now we're in a bubble we have a phony statistic on jobs, 100 million people in the work force, 100 million people. tremendous levels of poverty , welfare all over the place, and in many cases they want to get a great job today, lot of money but they can because we're losing all of our jobs to other nations into stupid policies. trans pacific partnership. [booing] believe me if it was good of its adult care if obama proposed and i wish obama was a great president i don't care that i don't have to run. i'd love what i want them
doing. i love it. [applause] above if he was a great president than i would vote to be his greatest fame and because i want with his good for the country i am having fun because i am so energized with which to dallas we had 20,000 people with the mavericks play we go to oklahoma two weeks ago we had 20,000 people in a park. mobile alabama. and 35,000 people. no matter where rigo. new hampshire the biggest event. i love. south carolina. two weeks ago it was unbelievable. a friend said how do you do that? had to make speeches in front of so many people i
notice you don't have teleprompter as speaker up. think of it. [cheers and applause] hello betty is a and gentlemen. it is great to be in virginia where you have all sorts of great people. and you do by the way. year to have the hall of fame. it is true. i say i am here i have a lot of property employer lot of people but this is a real hall of fame. patrick henry give me liberty or give me death. [cheers and applause] how good is that?
i want to come up with the slogan as good is that how about make america great again? [cheers and applause] i don't know but i still like give me liberty or give me death. that is great for by one to get the word again off. i will. it will not be that hard. it is common sense and takes business sensibility entry people well. win a conservative with part we will have the great health care program to take care of everyone and people and people will pay much less but i like to say conservative with heart people think of your republican you or me in and horrible it doesn't work that way. so they said that is a conservative but that is interesting. you have a club called club.
i never heard of it. he comes to my office he is an ex congressman he knows how to talk that is all they do. except the politicians currently in this room they are great ideas met his family in children and why he has done a great job. period what have thought? that has never happened before. so we talk patrick henry now we have thomas jefferson. [applause] then james madison and principal author of the constitution. [applause] pretty good then george
washington. [cheers and applause] that is pretty amazing. when you think of virginia is pretty amazing. i tell the stories and i love this story as it shows how important it is. i am still finding my campaign. i am the only one. [cheers and applause] icl the guys competing with me some of them are nice they're asking me for contributions like perry was a nice guy read period it did not work out too well but he really hit me ben instagram i thought he was nice but he hit me and made speeches because they want to get their numbers up. in every case they have gone down. can you imagine if i am president? they're all going down.
[cheers and applause] that is nice. i look at what is going on in a sea so much i was the perfect person like central casting because before i ran, i was on a list i contributed a tremendous amount by got along with democrats and republicans and conservative i get along with everybody one magazine said he is a world-class businessman you have to get along. i was told by hillary in a speech recently the same day by jeb bush and was told we don't like his tone. i built this incredible company and i built it because you will see the book comes out on
november 3rd. baddish jury election day by the way. make sure your people - - the right people get in. it tells you how we will fix america but i am self-funding. i was in iowa and i said i feel so foolish they want to give the millions and millions of dollars. why wouldn't i take it that is what i do. i take money that is how you become rich. millions of dollars we have 5,000 people in an auditorium like this here is the story. i feel stupid when i don't take the money. just supposed to take it and i promise i will not do anything for them and they said no, no, no.
i thought that i will talk them into a. i am not controlled by anybody. [cheers and applause] i am controlled buy you. really. i will do the right thing had you heard of the ford plant? i love it shed - - should i do it again? think it is good. floored closes plants building it to a half billion dollar plant in mexico. that's all right but what do we get? there will make cars and trucks in parts and send them into the united states how does that help us? you went to good schools even if you didn't graduate high school you know, that is not good at 2.5 billion dollar plant that is a big
plant they will take the jobs away and i said to myself, what happened if rubio or bush or hillary were president? they would know it is no good and there would say no, no, no. the following our there would be called by a lobbyist to gave them 5 million or special interests that gave them 10 million or one of the donors who own stock in four to give them 1 million and say mr. president, you can't do that there were very helpful to your campaign. you cannot do that. to know what will happen? they will say i have to do it. they will say no, no, no and they say i won't. the other alternative child is president they have not
given me anything. [cheers and applause] i called the head of ford and said this is too easy i don't even use my own bias. i called the head of for your building a plant to you're not employing people in the united states. other people. but how the benefit? he cannot explain that. believe me. not to me. believe me listen. build a plant in michigan or hear i don't care. i wanted in the united states i am tired of the jobs with nafta and the crazy deals and then do what we're trying to reprove. it is like a vacuum cleaner they suck
the jobs out of the country they suck the money of the country.
we have nothing. we're like a third world countries our
airports, roads, bridges are falling down, a 61% and bridges are in trouble. they drive over a bridge that is in trouble. i will not say his nine he is the very good guy but i want you to build its in the united states if you do insist on leaving you are not bringing those cars over for free. [cheers and applause] remember the trade deficit? forty-five for $50 billion per year. we will charge you 35 percent tax on every car and truck and parts that you bring over.
i believe in free trade. i also wants more trade and fair trade. best to be fair. they will say no now know that i will be hit all of whom have given it me nothing i have given most of them, i know all the people. i say no, no, no do the right thing that i am called the everybody else by have knocked take it their money. i just zero you in particular. and i will say common know, we want you to build the plant in the neck is states. it will be built in the
united states. they will say no and i guarantee within 24 hours by 5:00 that afternoon you know, they like to call a lunchtime to have a drink. they will say yes, mr. president, i we will build in the united states. [cheers and applause] the only thing that could change is they are tough negotiators it may take an extra day in a way to tell 5:00 the following day. they cannot do anything. people don't realize obama thinks they have the cars but we have the cars. china has created one of the biggest theft in the history of the world. they have stopped our e
economy dry. if you want to do business in china and i have many friends our manufacturers, i love them in their grey and they called me all the time they cannot get their product into china. they cannot do it in when they do there is a big tax we are the dummies tuesday bring it then they do currency manipulation which is one of the reasons the trade pact as a work the limit clinton was listening to analyze speech and was in favor 44 times than yesterday she came out against it because if she has to debate me she knows she will be killed on that killed the. [cheers and applause] i have to hand it to hillary clinton. you can be angry. it took great courage for
her to go against president obama on the trade pact perdue you know, why? because maybe she gets indicted because she is being totally protected by the democrats because what she did is a legal -- illegal and luggage general petraeus, general petraeus did 5% of what she did and they destroyed his life other people have done far less in their lives are destroyed. the democrats are just protecting her. there is no reason. want a fair investigation but what happened is absolutely crazy.
maybe she did o.k. because nobody attacked her. there was no attack perot in my debate, i hate to say that but they said mr. trump what do you think of this? then they go to him and they said donald trump called to a horrible human being it was like reality television. last night in basket question in get an answer. with me it was an attack. but every poll i won that debate so i am happy with that. every poll. [cheers and applause] "time" magazine. slate. every poll. but it was a whole different story. one other quick story. nabisco. oreo.
they are closing the big plant in chicago moving to mexico i will never eat another orioles again. ever. ever. i will talk to them i want the cookies made it is not fair to us chicago is losing a large plant and it is going to another country. we have corporate inversion where companies have trillions and trillions of dollars outside of the united states. trillions. minimum two 1/2 i think it is more than that it is covered in my tax plan. in the old days to remove from new york to florida or jersey to texas now they move from the united states to foreign countries and take all the jobs.
one of the reasons is because they cannot get the money they made outside of united states back into this country and every single politician practically in washington agrees democrats and republicans all agree. but they cannot agree. day you know, why because we don't have a leader in the white house. [applause] this is a situation where every single politician practically and they cannot agree we're doing something wrong but what it is is leadership get him into room and get something done. [applause]
things are happening in this country that people have not seen happen in 50 years. i got a call from a tremendous reporter who's said how does it feel? what you have done? think of this. i spend so little money i obeyed every poll in every state. why? i had a budget i am a business person we all have a budget i thought i spent about 25 million to this point i have spent like nothing because i was going to spend a tremendous amount on advertising but we have gone so far in the polls are so good the crowds are so great i don't like to waste money and i guess so much on
television. [cheers and applause] tonight i am doing bill riley if you are home. an interview is better than a commercial. that is better the commercial you turn it off. son spent tens of billions of dollars of 1%. it is good to talk rather little we spend our is a bad? they say he should have spent more but i am very proud. very proud. i will spend as we need to but i have spent the least of anybody in first place. is that good? right? [cheers and applause] i don't mean by a little bit.
if there are any baseball fans in the audience did you ever hear charles from the oakland a's? the lowest payroll in baseball eggs one the world series three times jackson sold to the yankees steinbrenner who was one of my best friends in and said he is brutal he doesn't spend any money he is killing us. but george did just fine. the lowest payroll. think of it by far in baseball. but he had the best team with real growth series in a row i think? there is something beautiful about that to me. we'll spend whatever we have
to spend one of the things that happened is i did "meet the press" the highest ratings in four 1/2 years. i saved his job. can you believe that? and this week with george stephanopoulos. they were dying two weeks ago. it is terrible. they said mr. trump made in the polls the biggest crowds , is there any way you would get out of the race? [laughter] and would ask that question? if you are in first place with anybody else but me be asked that question?
i said it was strange but i gave an honest an was strange bi gave an honest answer. look. we are number one but if we were not in the polls and the crowds are down in you don't call any more because it is over like some of the guys we're running against purple honestly. if i were them what's the purpose? to gain something by having the zero to go into a debate ? the children's debate? but jackie has zero rand attacked leakey was much higher. ideas to a there is anybody. okay. i said everything tanked i would consider it in the
headlines trump considers leaving it is so dishonest it to a couple of unbelievable polls to stop it. that i get all the time. i say i did that say that but it is so false and disgusting. much of the press has been terrific in honorable. like 30 percent. [laughter] but 20 percent are truly bad they are dishonest, a horrible human beings is a depression of being lazy but they actually go out of their way to write false stories and somebody asked me today what is your
biggest surprise? isaid said i know my biggest of my most brilliant surprise is the public gets that. they really get it. [cheers and applause] has been tremendous but i was going to tell you my friend said heidi speak without a teleprompter? s.a. it is amazing by the way no disrespect but every place i go you above the people whether alabama or dallas or oklahoma they are incredible people you are incredible people. they want to see the country be great again widow with
with anything. isis. iraq. libya, yemen wait until you see that and i are going into saudi arabia by the way. we will defend saudi arabia and for nothing even though they make $1 billion per day. and i ordered 4,000 television sets recently that come from south korea. they make a fortune as a country we defend them. 20,000 soldiers are on the line and a maniac on the overside. they pay as nothing and we defend germany people don't know that they are busy with economically and we defend them. we defend japan they give us nothing virtually nothing. we defend them. use a wide?
he had some psychological difficulty. they don't really know what happened. we are just heading in the wrong direction. so, you look around at all the people that are here tonight and you remember because it's happening. it's a movement. it's a movement. it's absolutely a movement. i get calls and i was going to tell you from a highly respected guy. he said mr. trump can i ask you one question?