Interview with Maria Bartiromo of FOX Business Network

Bartiromo: Mr. President, thanks so much for sitting down with me today.

The President: Thank you.

Bartiromo: Here we are on the week that the Dow Jones Industrial Average just hit 23,000, $5 and 1/3 trillion of market value created since your election. And largely, because of this anticipation and hope that your policies will get implemented. Tell us where we stand on the tax plan right now.

The President: We're doing very well. We will — we had a fantastic vote, as you know, and was — budget is indirectly passed. Now it's going to go through a little bit of an iteration but it's going to end up, I think, again doing very well. And I think we're going to get our taxes.

I think it's going to be — well, hopefully before the end of the year, but maybe much sooner than that. So there's a great spirit for it, people want to see it, and I call it tax cuts. It is tax reform also, but I call it tax cuts. It'll be the biggest cuts ever in the history of this country.

And I think that there's tremendous appetite. There's tremendous spirit for it, not only by the people we're dealing with in Congress, but for the people out there that want to see something — $5,000, almost. It can be $5,000 average per individual, — per group. And so, I'm really looking forward to it. Let's see what happens.

Bartiromo: It — it could be quite historic.

That's a big deal, that — on Sunday, exactly. Do you think you have the votes?

The President: I think we have the votes. I think that Rand Paul actually is going to vote for the tax cuts. I think that other people — you know, we had tremendous enthusiasm this time. Health care, I was told was tougher but it was close. I mean, so far, I would say it's not even a contest.

And I will tell you — speaking of health care, I believe we're going to get that also. It'll be in the form of block grants to the different states. And it'll be a wonderful health care. It'll be a tremendous health care, managed properly in smaller doses where you can really do it much more individually.

So I think we're going to get that also. And a little bit later, probably in three or four months from now, but I do believe we'll have that long before the election in '18. As far as taxes are concerned, you see what's happening. It's really doing well, great enthusiasm.

Bartiromo: Yes. You soured on the health care bipartisan plan a bit — right — from Lamar Alexander and Patty Murray?

The President: Well I've — I have looked at it very, very strongly. And pretty much, we can do almost what they're getting. I — I think he is a tremendous person. I don't know Senator Murray. I hear very, very good things.

I know that Lamar Alexander's a fine man and he is really in there to do good for the people. We can do pretty much what we have to do without, you know, the Secretary has tremendous leeway in the — under the Obama plans. One of the things that they did, because they were so messed up, they had no choice but to give the Secretary leeway because they knew he'd have to be — he or she would have to be changing all the time.

And we can pretty much do whatever we have to do just the way it is. So this was going to be temporary, prior to repeal and replace. We're going to repeal and replace Obamacare.

And I think we actually have the votes. People are criticizing me for saying that. I think we actually have the votes for that. You know, we were basically one short and I think we're going to have the votes for that also, Maria.

Bartiromo: Yes, I'm interested about that because even your supporters say, you know, he's got fantastic policies. We want to see this through. But the bickering and the feuding actually gets in the way. So obviously the feuding with Senator Corker — I think there's a personal thing going on between you and Senator McCain. Do you worry that this bickering and feuding gets in the way of your agenda?

The President: No, and sometimes it helps, to be honest with you. So we'll see what happens in the end. But I think, actually sometimes it helps. Sometimes it gets people to do what they're supposed to be doing. And you know, that's the way it is.

I just want what's right. And I think, for the most part, they want what's right too. So we'll see what happens but I do believe we have the votes for health care at the appropriate time. And I think we're going to have the votes for taxes and I will say the fact that healthcare is so difficult, I think, makes the taxes easier. The republicans want to get it done and it's a tremendous tax cut. I mean, especially for the middle class and especially for business.

We have — we're loosing our companies. We have companies leaving and I have to say since I've been elected, that's really stopped, it's really slowed down. There's a tremendous enthusiasm for business in this country. So, a lot of things have changed.

Bartiromo: And, you see the job creation, as well this year.

The President: It's been fantastic.

Bartiromo: If they can't get this tax bill done this year, should they forego Thanksgiving and Christmas? Should they be here if they don't have a bill on your desk by Thanksgiving?

The President: Well I think they should and I think they will. I think a lot of things are happening unless, you know, it's going to be right after that. But I don't even like them leaving. But I will say this, I want to get it by the end of the year but I'd be very disappointed if it took that long.

It could be substantially less than that depending on what happens when we send the bill back to the House. You know, they'll send it back and people are going to go and make 200 suggestions as opposed to maybe no suggestions because it's a great bill. It's going to be a great bill. And we're adjusting.

We're adjusting so that there's no way that the middle class doesn't greatly benefit. Every once in a while there's a method under which, you know, it could be that some people in the middle class won't benefit as much as we want them to benefit and we're making certain adjustments but I think we're going to have it sooner rather than later.

Bartiromo: Paul Ryan did an interview this week and said you are insisting that they have a fourth bracket. It's on your insistence that they have a fourth bracket. I know that you're very focused on the middle class but do you want to raise taxes on the rich with the fourth bracket?

The President: Well, he really said that on the basis that I wanted it or was thinking about it because I want to make sure the middle class gets taken care of. So, in that way, yes, but actually we do have four brackets because we have a zero bracket and people aren't including that.

So, that would actually make it a fifth bracket as opposed to an eight bracket on the other side, on the other way. I call that our competition which is the competition from the past. No, I think that when Paul says that — we may not have that. I would rather do that than do anything to hurt the middle class.

Bartiromo: But, see, that's what I don't understand and I followed your policies really closely. The state and local income tax deduction eliminations you take that away and then you go to a fifth bracket or a fourth bracket however you want to say it and you get a higher rate for their top earners.

The President: Right.

Bartiromo: If the top earners pay 80 percent of the taxes why are you so afraid to cut taxes on the top earners?

The President: I think this, look, you know, I am very happy with the way I've done part of this in my civilian life, all right.

Bartiromo: Of course. This is not about —-

The President: Other people — well it's about me representing rich people.

Bartiromo: OK.

The President: Representing — being representative of rich people. Very interesting to me Bob Kraft was down. He was very nice. He owns the Patriots. He gave me a Super Bowl ring a month ago. And he —-

Bartiromo: We'll Putin took his

The President: Which was very nice. That's right. But he left this beautiful ring and I immediately give it to the White House and they put it some place and that's the way it is.

Bartiromo: That's great.

The President: He said to me — he's a good man. He said to me you have to do us all a favor, give the tax decrease to the middle class, we don't need it. We don't need it. We don't want it. Give it to the middle class. And, I've had many people, very wealthy people tell me the very same thing. I've had very few say I want more, I want more.

They really want to see — you know the middle class has really not done very well over the last long period of time. And, so when Paul mentions maybe one more category which I'd rather not have, it may not happen. But the only reason I would have — and he does say this, he's very plain on what he said is that if for any reason that the other middle class is not being properly taken care of.

So, that's a big factor but we have so many things that are going to be so great bringing the corporate tax down maybe is the most important. And, we have a lot of most important but bringing it down from 35 down to 20 percent that's a massive — that' the biggest that we've ever done.

Bartiromo: It's a big deal in the corporate rate for sure.

The President: That's a big deal for companies; that's a big deal for investment. I think one of the other ones is expensing, you know when you write something off in one year as opposed to you know over many years, I think that's going to be tremendous.

We have so many things in this plan that are going to be for growth and you know your next questions going to be deficit so and on, and I fully understand that we all understand it, and growth, if we pick up one point on GDP that's $2.5 trillion if you think of.

Two point five it more than pays for everything and I think we pick up much more than 1 point, and I've been the one that's saying we're going to hit 3 sooner later than later, in the last quarter we 3.2.

Bartiromo: Yeah.

The President: We haven't been there real — we haven't been there in a long time, it's been a long time.

As you know the previous administration didn't hit it for the year for 8 years. In 8 years it didn't hit it at all. Here we hit it you know an early quarter for me, and actually before that it was down in the ones, it was down in the ones.

Bartiromo: People got used to like 1.5% growth for a long time.

The President: Well, you know I call up — I become friendly with leaders of other very, very large countries and say how're you doing, and they would say "We're not doing well, we are not doing well. GDP is at 7%, GDP is at 8%, we are not happy."

And I'm saying you know we had it a 1% so I really think we can do much more than a —let's see what happens, but 1 point is 2.5 trillion and millions of jobs.

Bartiromo: Let me ask about your courting of the Democrats recently I mean the reason that I brought up this other bracket is because I feel like the Republicans get bullied by the left, by this whole talking point of it's always tax cuts for the rich.

The President: Yeah.

Bartiromo: You been —-

The President: By the way that's an automatic talking point.

Bartiromo: Exactly.

The President: I mean for sure I get along with Schumer —-

Bartiromo: Are you getting bullied again, are you getting bullied again?

The President: I don't think so— it doesn't seem like it we got the budget passed.

Bartiromo: I you get a fifth bracket, are you getting bullied?

The President: So here's the thing Schumer, I like Schumer, but before he even knows the plan he'll say "Oh this is for the rich" so he doesn't even know what the plan is, and he's screaming it for the rich.

He did it with healthcare too, he said "This is for the rich, this is for the rich you're not going to get your coverage." Everybody is going to go into hospitals; that's going to be terrible, the world is coming to an end, OK.

Do you know what the plan was. That's OK you know we're all learning politics right, and he said that well, he says the same thing because I saw him two days ago before he really knew what was happening, he said "Oh no it's for the rich."

So it's an automatic statement, it's like in business you ask for twice as much I mean.

Bartiromo: Right, well you go back with Chuck Schumer.

The President: I do.

Bartiromo: You both from New York —

The President: You know I've always gotten along with him.

Bartiromo: Is this helpful in terms of negotiations?

The President: I don't think it matters, I mean I really don't, but I met with the Senate Finance Committee, I met with the Republicans, Democrats together right across the hallway two days ago we had a great meeting.

Ron Wyden was — is their Chairman we had a fantastic meeting, there's a lot of similarity they want tax cuts also Maria. They want tax cuts and they want them as fast as possible.

Now they don't want to say it and their saying "Oh gee, you know the — the — the middle class I call them the working people because they really are the working people, but the middle class doesn't benefit that's — that's their standard but they know it they do benefit.

They're the big beneficiaries, the other thing — the other big beneficiary are jobs, wages —-

Bartiromo: Right.

The President: Jobs.

Bartiromo: And that's been your priority.

The President: So it's been my priority and if you look at what I've done between regulations, I've cut more regulations in nine months then any president has cut during the entire term that they were — nobody's cut that —

Bartiromo: You're better than President Bush, I mean the Federal pages are down 30% under your leadership.

The President: Well, and — and by the way I've just begun because —

Bartiromo: So there are more regulations rollback —-

The President: Well, there's a lot more I mean really lot more, I mean I think I can double it before it's over, but a lot of it's statutory where you have to give a 90 day notice and then you have give 120 day, we've given those notices I mean we're going to be doing a lot more.

But you look at — at you know Keystone Pipeline, Dakota Access Pipeline these were all dead projects that I approved them in my first few days — I mean literally in my first few days 48 thousand –

Bartiromo: — see I think that's why we've had a 3.1 percent GDP. Because of the regulation roll back that you did — there are some industries that are not that regulated. I'm wondering what you think about tech right now?

Because you have these companies that are more powerful than ever before, they've got everything all the data on us. They're selling the data. To the tech companies these more regulated?

The President: Well I guess some people talk about freedom and other people talk about we want to know who's taking adds or doing whatever and I would imagine something's going to come down along the lines of like we are doing right now. For regular — you know whether it's commercial or not for a normal broadcast company.

It'll be very interesting to see. You know that's a argument that's happening right now. It'll be very interesting to see what — there are two very distinct views on that. I can go — honestly I can go either way on it.

Bartiromo: Mr. President who do you want to see running the Fed?

The President: Well as you know I — I've been seeing a number of people and most people are saying it's down to two, Mr. Taylor, Mr. Powell. I also met with Janet Yellen, who I like a lot. I really like her a lot. So I have three people that I'm looking at. And there are a couple of others.

I said I will make my decision very shortly, pretty shortly.

Bartiromo: Isn't there a way that you can get Taylor and Powell in there? Because you've got a vice chairman opening as well, you can actually put them both in there. Is that in your thinking?

The President: It is in my thinking. And I have a couple of other things in my thinking. But I like talent. And they are both very talented people. And it's a hard decision. It's actually a very important decision. People have no — most people have no idea how important that position is. That position is actually — more — a lot of people get rid of the Fed.

Take the Fed out. That's a very important position. It's also important psychotically. If the right person is there a lot of good things can happen. I think I'm doing a good job for businesses in that way. People are coming into the country; you saw what happened with Foxconn going to Wisconsin.

You see what's happening with Apple where there — I said to Tim — I said to Tim Cook, I said Tim I want some of those beautiful plants that I see in China. They have to open in the country. You got to give me some big beautiful plants, it's happening. It's all happening.

The auto companies are coming back into our country. Coming up to Michigan again, they are going back. We're not going to be taken advantage of. We were taken advantage of — I wouldn't say the companies so much, but by other countries. We were so badly taken advantage of.

As you know we're negotiating with NAFTA. And they have an election right now, and lots of things. But at some point either NAFTA will be renegotiated so that it's fair to the United States or it will be terminated. It was very simple. People think that's a very tough statement. But it will probably be renegotiated but if it's not successfully renegotiated so it's fair for the United States, it will be terminated.

Bartiromo: Look you had a very good victory this week in terms of the Senate vote on the budget, I know that. But you've had all this money going out, new money that people weren't expected, right? You have money now going to California with the wildfires, Puerto Rico, Texas, Florida.

Many have got defense you want to build up the military. You've said many times the present President Obama underfunded defense. Where does this money come from? And how are you going to get control longer term of the debt and deficit in this country? When is that conversation going to pick up?

The President: Well it's going to be all growth. Look it's going to be growth. I think that growth can be staggering. I also think we have a lot of waste in this country. And we'll be doing other things. We will be doing welfare reform. I mean that's coming up.

Okay, and whether people like it or not. You know people don't like having a house and working three jobs and having somebody nearby where their living better than the person with the three jobs. It's not fair. And that's all coming up, believe me that's going to be out there very soon.

I want to get the taxes first. I want to get health care. We're doing a big infrastructure bill which will be a very positive thing. But we're going to have tremendous growth.

Bartiromo: Are you going to tie the infrastructure to the tax plan?

The President: I could tie it. I was thinking about tying it but there's too many honestly. You lose a few votes, you gain a few votes. I don't want to take any chances cause I feel we have the votes right now the way it is.

So the tax will come up, the infrastructure will come up, the health care will come up, I have an economic develop plan, that I would like to propose that I think will be, you know very, very good for our country. I think the growth in the country is going to be tremendous. I think we have tremendous potential, it's hard to believe because it has been, you know going for a long time.

But the waste, the trade deals we have, that are so bad. You know, the money you're taking about is, peanuts compared to the trade deals. We lose with Mexico, almost 70 in terms of trade deficits, almost $70 billion dollars a year. We lose with China $100s of billions a year, we lose almost every country. If you look at I mean there is hardly a country. I can name two, and it is tiny surpluses, tiny.

We lose with almost every country, we have massive deficits. And that is gonna change, we can't allow the world to look at us as a whipping post. Not gonna happen, anymore.

Bartiromo: Are you gonna remove the budget caps, in terms of defense spending?

The President: Well I wanna do it, because one the one thing have do, is have to spend on defense. This is a very rough time out there. I was left a mess, whether the people like or not, I think we can say it in different ways. I was left a mess, whether it was North Korea or the Middle East, where we have made more progress against ISIS.

Literally Maria, we have made more progress against ISIS in the last 9 months, than in the last 8 years, as you know. I mean as everybody—

Bartiromo: You have had tough talk on everybody.

The President: I mean it's not a question of tough talk, we have also produced, I mean the Middle East is a whole different ball game right now as far as ISIS is now, is concerned. But, but we have to…we are in a world, there's a lot hatred in this world. There is a lot of hatred towards us in the world. We need a strong military, stronger than ever before, and we are going to have that.

So I do want to get rid of the caps at least at some point in the near future.

Bartiromo: Do you ever feel like sometimes, some of your unscripted Tweets, unscripted comments get in the way of the larger message? I have spoken with a lot of supporters of yours and while they love the policies; they say we, you know we feel like we are always defending something he said, that he really didn't mean, to say that way. Do you think that is getting in the way of your agenda and the overall message? You need bully pulpit to tell the American people why tax reform is important

The President: It is such an interesting question, because I have friends that say, oh, don't use social media. See I don't call it Tweets, Tweeting is like a typewriter — when I put it out, you put it immediately on your show. I mean the other day, I put something out, two seconds later I am watching your show, it's up —

Bartiromo: You're right. We're watching your Twitter feed

The President: OK, and then, you know they are well crafted. I was always good student, I am like a person that does well with that kind of thing. And I doubt I would be here if weren't for social media, to be honest with you. Because there is a fake media out there, I get treated very unfairly by the media.

And I have a tremendous platform. I think I have a 125 million people between Twitter and Instagram and all of them and Facebook. I have a tremendous platform.

Bartiromo: So you —

The President: So when somebody, says something about me, I am able to go bing, bing, bing and I take care of it. The other way, I would never be get the word out. I had a big rally, we were in Texas for something and I then I went back unfortunately for the hurricanes.

But one women was standing, I had thousands and thousands of people, but woman was saying 'keep tweeting, it matters.' It is sorta of an interesting — I really believe, again I don't call it, I call it social media.

Bartiromo: It's not just the Tweets, Tweeting is good. I mean having that direct relationship. It's just tweeting on other subjects other than the message that you really want to focus on.

The President: You have to keep people interested also. You know, you have to keep people interested. But, social media, without social media, I am not sure that would be here talking. I would probably not be here talking.

Bartiromo: You definitely have an incredible connection to voters and to supporters —

The President: They want me to

Bartiromo: the American people. Period.

The President: You know what I find; the ones don't want me to are the enemies. The people who really don't like, what happened with me and winning the election and all of the things. Those are the ones who say he should, I remember, I was in — I was in a faraway land and I was tweeting. And I said very little. I said like, "I'm in Italy right now," you know, for the summits. So "I'm in Italy right now and the weather is wonderful." And one of the — one of the dishonest networks said "Donald Trump is on a Twitter stomp again — President Trump."

They say "President Trump is on a Twitter stomp" within one tweet. It is such dishonesty. But without social media, I'm not sure that I'd be here today, so I don't…

Bartiromo: I understand.

The President: I don't think I want to take any chances. And we do get points out there — I mean, we get tremendous points. I can express my views when somebody expresses maybe a false view that they said I gave.

Bartiromo: It's totally unconventional. But it works

The President: It works — It just seems to work. I mean, it is a little unconventional.

Bartiromo: I have to ask you about that emotional press conference yesterday with General Kelly, your chief of staff. The way he came out and talked about his son and defended you getting criticism from the Gold Star family — well, the media, really. Were you expecting that?

The President: He is a — a very elegant man. He is a tough, strong four-star Marine. You're a four-star Marine, you've got something special to start off with, OK? General Mattis, General Dunford also, but very few. He — he was so offended, because he was in the room when I made the call and so were other people. And the call was a very nice call. He was so offended that a woman would be — that somebody would be listening to that call.

He was — he actually couldn't believe it. Actually, he said to me "Sir, this is not acceptable. This is really not" — and he knew — I was so nice. Look, I've called many people. And I would think that every one of them appreciated it. I was very surprised to see this to be honest with you.

Bartiromo: He spoke very well yesterday.

The President: And by the way, I spoke of the name of the young man and I — it was a really — it's a very tough call. Those are the toughest calls.

Bartiromo: It's a very tough —

The President: These are tougher than dealing with the heads of countries, believe me. These are very, very hard calls. They're sad. And sometimes, you know, the grieving is so incredible. But he's just an elegant man and a wonderful man and he's doing a fantastic job as chief.

Bartiromo: The Congresswoman, Frederica Wilson, she said "Oh, everything he said was because he's just trying to keep his job."

The President: He doesn't need this job. In fact, he didn't really want this job. He was so happy, you know, he's a military guy. He was doing this incredible job on the border and elsewhere, you know, he ran homeland like nobody has ever run it, down 78 percent of the border crossings.

Bartiromo: That's incredible.

The President: That's before the wall — he — there's nobody close. You go to the original first day, there was nobody close to doing the job. And I said "I'd like to take you. How would you like it?" And it's not that he wanted it. Actually, he would have preferred doing and staying where he was. He's a man that felt it would be important for the country. He does it for the country. He's not doing it for what he wants. He does it for the country.

He's a very unusual man. So when she made that statement, I thought it was sickening, actually.

Bartiromo: I just want to ask you before I lose you, about the border. And you've said you want a legislative fix for DACA. What else do you need to see in terms of the border? What do you want overall

The President: What we're going to see — we are working on DACA, we'll see if we can get something with DACA. We have to build the wall, we have to — all you have to do is look at what's happening in Mexico. We have to build a wall. Going to stop drug traffic in to a large extent. I mean, what's happening with drugs — and I'll be making a big announcement on that next week.

What's happening with drugs in our country — and by the way, in the world. It's not like we're singled out. But it's never been like this. And a lot of the drugs come through that southern border. And we need a wall. We're going to have a wall. We have to — I would like to do something with DACA and we are negotiating, right with the Democrats, and we'll see if we can come up with a solution. But I can tell you, I and the Republicans are very open to it. We have to get something in return.

Bartiromo: And last week on this program we had Prime Minister Benjamin Netanyahu.

The President: Right.

Bartiromo: He commended you. He congratulated you for decertifying Iran in — what you did last week. Do you think they're going to get Europeans to support you in terms of sanctions, in terms of not selling technology to Iran?

The President: Honestly, I told them. They're friends of mine. They really are. I get along with all of them. Whether it's Emmanuel, or whether it's Angela, I get along — I really like those people.

I told them, just keep making money. Don't worry about it. We don't need you on this. You just keep making money. When Iran buys things from Germany and from France and from the various — by billions of dollars, even us, they were going to buy Boeings. I don't know what's going to happen with the deal.

We'll see what happens with the deal, but — but when they buy those things, it's a little harder for those countries to do something. Would they do it if I really was insistent? I believe they would.

I told them just keep making money. Don't worry. We don't need you on this one.

Bartiromo: And on North Korea, is our policy with China just about what it does with North Korea or do we have a separate policy with China for something else?

The President: China has been — I've developed a very good relationship with President Xi. President Xi is right now going through his Congress and it's going to be something very soon is going to happen.

Bartiromo: Right.

The President: That gives him something that few leaders of China have ever had, and I'm really good with that. And to be honest with — I told you on this, I want to keep things very, very low key until such time as he gets that. I want him to get that.

I think he deserves that. He's a good man. But they have been helping us. They're closing off their banking systems to North Korea. They have cut the oil way down. Now, the banking systems we can see, because they all come through here as you know. The oil you can never really see what's going on, but the oil is way down. The oil is — they're doing a lot of things.

Bartiromo: For the first time ever

The President: For the first time ever. Those are the recent article that said I have the greatest relationship of any president — the two of us, and I think we do. I really do. I think — I don't want to be foolish.

He's for China and I'm for the U.S., OK? So we start off with that, but we do have a very good — I would say an exceptional relationship. And China's really helping us, and — well, also with respect to North Korea, 93 percent of things going into North Korea come through China. China is big stuff.

I believe he's got — he's got the power to do something very significant with respect to North Korea. We'll see what happens. Now with that being said, we're prepared for anything. We are so prepared, like you wouldn't believe.

You would be shocked to see how totally prepared we are if we need to be. Would it be nice not to do that? The answer is yes. Will that happen? Who knows, who knows, Maria.

Bartiromo: Mr. President, would you like to add anything else that I may have missed?

The President: No. I'm not — I think you've covered just about everything...

Bartiromo: When we end, then where we begin and that's taxes. You can't tell companies what to do, right? Are you sure they're going to get that savings in the taxes in terms of bringing that $3 trillion back and use it to hire people? Or are they going to buy back stock?

The President: Well, I think whatever they do, it's a positive. Honestly, whatever they do, it's a positive. Even if they buy back, they buy back and they give people money and the people are going to go spend the money, okay? And that's okay too.

So you know that people have said that, oh, supposedly, they keep the money or supposedly, they buy back stock. Well, they buy back stock, the stock — the money's going to people and they're going to go out and buy a something — I won't say — I was almost going to say something, but I won't say it. We have minimum, in my opinion, $3 trillion—

Bartiromo: Overseas

The President: Overseas or however you define it. In some cases not necessarily totally over – but overseas. We have minimum $3 trillion — it can never come back. You know what's interesting? That's something that Democrats for years. Democrats and republicans agree the money should come back. Who's not going to say the money should stay there, right?

Everybody agrees — I would say unanimously, it was never done, it was never done. Because of lack of leadership. Because of something.

Now, it was not only the high tax — it was a very high tax, nobody would pay it. I mean, unless you were desperate to get money, you wouldn't pay it, so it was a high tax. It was also bureaucratic boondoggle; you never saw anything like it. You couldn't — I looked at the amount of work you had to do to get that money in, aside from the tax — OK, all of that is going to be solved and we're going to have 3 trillion and I think it could be much more than that.

You know, we've been saying 2.5 trillion for years — you've been saying it. For years, we've been saying 2.5 trillion — well it's not 2.5 trillion anymore, I think it could be much more than that and it could be up to five, we'll see. We're going to know fairly soon because for the most past, with the deeming and everything else that's going to come in very soon, I think it's going to come in very quickly. But there's — at a minimum three $3 trillion coming into our country and that money is going to put to work one way or the other. So the great thing is, it's a great plan, there's never been anything like it, it's the biggest and it's the best and I think you're going to be very happy, you'll be impressed.

Bartiromo: Mr. President thanks so much for joining us.

The President: Thank you. Thank you very much, Maria.

Bartiromo: So appreciated.

[Begin Part 2]

Bartiromo: I'm so excited to be here.

The President: Oh, yes, isn't' it great?

Bartiromo: It's incredible. Ready? OK. So Mr. President, it's been nine months, have you changed? Have you changed being president?

The President: Well, I think you see the extent of what we have to do. And it's far greater than anybody would understand, whether its countries, or whether it's war and peace, and protection. The most important thing is protecting our people. And you protect them from lots of different things and elements.

We've done a great job with ISIS. We've done a great job with – I think our military is getting stronger, stronger, stronger. I want to have it to a point where it's the strongest by far that has ever been. But number one is always going to be protection. But if you look at the economy – what we've done with the economy has been great.

And regulations down to a level that nobody's ever seen. I mean nobody's done anything near what we've done. We've actually had a lot of legislation pass. A lot of people say, oh, gee, you have to get the taxes – you have to get the healthcare. They're two very biggies, but we have – we've passed legislation that I think more than almost any, out of the four to nine month period, more than any other president, they said Harry Truman –

Bartiromo: You have –

The President: — but now we passed Harry Truman in this very short period of time –

Bartiromo: I look at the federal registry, you're absolutely right.

The President: Yes.

Bartiromo: You're down 30 percent. You mentioned the tax planning side. Can you give us any sense of this fifth bracket? I mean if you do a fifth a bracket, is that a million dollars, is it $2 million?

The President: Yes.

Bartiromo: What's the number?

The President: I don't think we'll use a fifth bracket. I only want to use the fifth bracket if at any reason I feel the middle class is not getting as much as I thought they would or as much as they are entitled to. They're entitled to a lot.

This is about the middle class. It's really about the middle class and about jobs. And if I feel that the middle class is not getting what I want them to get, and that's going to be a lot, because I want them to get really a lot. Then I'm going to do a fifth bracket, which will give them more.

Bartiromo: Mr. President, thank you so much.

The President: Thank you very much.

Bartiromo: It's really good to see you.

The President: Great to have you.