charles: joining me now one of my favorite climatologists peter morici. peter, the fact of the matter this wasn't even about climate, was it? it was about economics. >> absolutely. this deal was a terrible deal. i wrote that in the watch man times two years ago and on fox's website and so forth. i mean, basically it committed china to start cutting back co2 emissions in 2030 and until then, it could grow. heck, our emissions are lower now than 1990 because american industry has been responding on its own. it does not need the administrative states. by the way, i have sandbags by my back door. and they didn't get wet. charles: yeah, i got -- i am on a rowboat this weekend, though. i'll keep it somewhere in the house, maybe the garage just in case. it feels to me, peter, and maybe you can help me here. former president obama and europeans always kind of had this social justice, do the right thing for the environment thing, and they make and form these policies and then try to add an economic vinier to them to make it seem like there was a reason for doing i

i'm joined by university of maryland economist peter morici. so a lot of people don't believe this plan makes tons of sense to me. private equity is very interested in this. what do you think? >> i think it's a great idea for the air traffic control system for other projects. for some things no. i think some things we'll have to pay more gasoline tax to get more highways. that is way it works. toll roads don't work out. for something like air traffic control system talking about business equipment for business, charging user fees for planes as they land makes sense. 50 countries has gsp devices now. we don't. we need to keep up with the rest of the world. melissa: let's start with that one, when you talk about the air traffic control, it makes people nervous this idea that the private industry would be in charge of air traffic control. frkly i'm a little more nervous like the dmv being in charge of air traffic control, but what are your thoughts? how does private industry make it safe? how do people feel reassured? >> first of all it will be a

. >>> economics professor peter morici joins us now. peter, your reaction to this. in particular, the reaction to you've got to get it done. no matter what. you've got to get it done. and you say what? >> well, there are two imperatives here. obamacare, whatever this bill's shortcomings, keeping obamacare would be worse. and the other thing is, let's face it, if the republicans can't get it together on this, they will not be able to pass much else. they have to simply learn to the compromise among themselves. each accept half a loaf so they can be a governing party. stuart: now, the right, some conservatives are saying, look, this doesn't repeal obamacare. it simply, it's obamacare lite. i disagree with that. if you get rid of the taxes and the mandates and various other things within that bill, i think you've essentially suppressed obamacare, and you can change it more later. what say you? >> well, it is obamacare 2.0. i mean, this -- we're going to continue to have the exchanges and so forth, but it's a much lighter version. i don't believe that it is more oppress

stuart: that's peter morici on the markets, stay there. i've got more in a moment. let me deal with the paris climate deal. business leaders are coming out against the president's decision to withdraw. tell me. ashley: announcing they are quitting the advisory council's involved with the trump administration. beginning with elon musk said he would do that, the ceo of tesla and spacex tweets out. i'm departing the presidential council, climate change is real and leaving paris is not good for the world. and bob iger, as a matter of principle, i resign over the #paris agreement withdrawal. and for the first time ever lloyd blankfein, head guy over at goldman sachs, sent out a tweet andis first very tweet. today's decision is a setback fo the environment and for the u.s.'s leadership position in the world. #parisagreement. stuart: i think there's some grinding of axes there on the part of some of the executives. we'll get to. and peter morici, on balance is our withdrawal from the paris climate accord is good thing for a bad thing for the american economy? >> i don't th

peter morici is here this morning. i feel there's a great deal of snobbery in america, that the elites look down on people who work with their hands. >> that has always been the case, but the real problem is the middle class looks down on people who work with their hands. people don't want their own children to go into these apprenticeship programs. rather send them to a middle tier college the best they can get in very often, and they're not really coming out with a whole lot. that's what we're learning. almost half of the students that go to college, not a lot of value added except maybe some indoctrination. the nice thing about apprenticeship programs, they're focused on skills, skills, skills. there's no politics there. there's no greater purpose and what could be more fundamental than teaching someone how to earn a living in a good and constructive way? >> agreed. now, address, please, the issue of the skills gap. we are told there are a lot of well-paid jobs going begging. they are blue collar jobs, welders, elec

peter, great to see you this morning. peter morici, thanks so much. >> take care. clayton: leaks keep dripping from the white house and they all have got something and someone in common. dan bongino says this is the biggest political scandal in modern times. is he going to join us live. plus, we have all done it as kids. is it safe to drink from the garden hose during the summer? dr. nicole is a fire is here to separate fact from fiction. it's summertime. drink from a water hose. don't drink the pool water, peter. ♪ i want some hot stuff baby this evening ♪ got to have some hot stuff ♪ got to have some love tonight ♪ hot stuff ♪ i need hot stuff ♪ ed by a heart valve problem. but no matter what path i take, i go for my best. so if there's something better than warfarin, i'll go for that too. eliquis. eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. eliquis had both. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious a

in fact, i think the wheels of commerce have moved, but let's ask economics professor peter morici who joins us now. i saw earnings, i saw the guidance, i'm looking at some of the other data out there. it feels like the trump economy, without those legislative wins, have already begun to take off. >> well, i think more fundamentally hillary clinton's not raising taxes as president, so forth. as i recall, we've discussed this many times, i've said the market could justify a higher price to earnings ratio in the new environment of technology. so my feeling is the market is just living out what is there. price earnings ratios can go higher, and that's what's happening. also the global economy looks in pretty good schaap right now. charles: -- shape right now. charles: that is an interesting take. "the wall street journal" attributes so much of it to the fact that macron had an overwhelming victory x he's positioned for major tax reform in france maybe before we get it. but certainly, lower taxes in the west would help all these companies and help consumers, no? >> well, he's got a two-pro