Fox News "Sunday Morning Futures" - Transcript: Interview with Sen. Richard Shelby

Interview

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MARIA BARTIROMO, HOST: President Trump making comments moments ago on the White House lawn.

Good morning, everyone. Thanks for joining us. Welcome to "Sunday Morning Futures."

I'm Maria Bartiromo.

And the president just spoke with reporters moments ago, before heading off to Camp David for a retreat with senior Cabinet members.

The government shutdown is now entering a 16th day.

Joining me right now in an exclusive interview is Republican Senator from Alabama Richard Shelby. He's the chairman of the Senate Appropriations Committee and serves on the Senate Banking Committee.

Senator, it's good to see you this morning. Thanks so much for joining us.

SEN. RICHARD SHELBY, R-ALA.: Good morning to you, Maria.

BARTIROMO: Your reaction to the president?

You have had meetings this weekend. Your mandate is to fund this government. Tell us where we are in terms of being at an impasse on this border wall funding.

SHELBY: Well, we're at loggerheads still. We're at an impasse.

And I was hoping it wouldn't be this way, but it is. We could settle it. We should. But this has become a political circus. A lot of people on both sides are calling names and so forth.

But what we need to do, Maria, is get together. We need to secure our border. I think the president is absolutely right in this. We're close, sometimes, but we're far away. And I think we have got to quit the political posturing and get down to rational thinking, rational discussions.

I know, this afternoon, some -- some of my staff will be at the White House trying to negotiate to where we are and what can be done. This could be settled in 24 hours or less, if we could get together.

BARTIROMO: Well...

SHELBY: And I think we have got to get together, because, ultimately, Maria, this will all end in some negotiated settlement.

The American people want us to do -- work together. They want us to do right. They want us to secure the border. They want us to fund the government. We can do all of this. We should have already done it.

BARTIROMO: Well, you had an idea of $2.5 billion vs. the $5.6 billion that the president wants. What are you hearing on the other side? I know that you're having discrepancies over what to call it, a wall, or concrete vs. steel.

These really all seem like politics.

SHELBY: Oh, it is all politics. It's posturing. The political equation has changed a little bit. We have a Republican president, a Republican Senate and a Democratic House.

But we all should put security of this nation first, the borders. We all know, Democrats and Republicans should know that we should secure our borders. And it's a question. You mention the name wall -- wall, barrier, border security. We should get away from that. Fence and whatever it's called, we should work together.

We should put -- say, what is it going to take to secure our borders? And let's go there and quit polarizing and screaming at each other.

BARTIROMO: So, what is it going to take? The Democrats say that they are for border security. We have got new data from the Department of Homeland Security.

Most recent estimates say that the DHS estimated that there are 12.1 million unauthorized immigrants in the United States in January 2014, compared to 11.6 million in '10.

What do they say is needed, then, to get control of our borders, if not a wall?

SHELBY: Well, I -- well, the wall or fence or barrier, whatever it is, border security, is long in coming. It's not there yet. We have made progress.

But I believe the president is right. I believe the president has an obligation to secure the borders, secure the country. And I think he's got a lot of power there. I want to help him do that. But I also want to get the government back in order. And we need to do this.

We have funded 75 percent of our appropriations. We could do this quickly, or it could last a while. I think, if we don't get together, it's going to be protracted.

BARTIROMO: So, what exactly do they want on the other side in order to get the government open again?

SHELBY: Excellent question. When you negotiate with somebody, Maria -- and you have done it -- you have got to figure out what they want, what we want, and how do we settle and compromise and get something for both sides, because, ultimately, that's what's going to have to happen.

You're going to have to give the Democrats something. But they -- they're against everything at the moment. But they want something. We have got to figure out what it really is. And are they willing to negotiate politically in a fair way for both sides?

BARTIROMO: Are you saying you don't know what they want? You have got to figure out what they want?

SHELBY: Well, I don't think any of us know -- know exactly what they want, because, right now, they are just saying they're against the wall and they're against the numbers that we put out to -- the president needs and claim they want.

So, I haven't seen the specific things that they want.

BARTIROMO: Well, what is the highest number that they're willing to allocate toward the wall or toward border security?

SHELBY: Well, that's a good question. We don't know that until we get into serious, serious negotiation.

Of course, they say they're going to stay on 1.3. If they stay on 1.3 and the president stays where he is, there's not going to be any compromise. There's not going to be any opening the government. People are estranged right now. We have got to get together.

BARTIROMO: Yes, I find it really odd that we're entering a 16th day of a government shutdown, and you don't know what they want, nor do you know the number that they're willing to go to.

Senator, we have got a lot to get in to. Please stay with us. We're going to take a short break.

You sit on the Banking Committee. I want to get your thoughts on the volatility from markets as well, affecting 401(k)s, as well as the economy today, after those really boom numbers on jobs.

Follow me on Twitter @MariaBartiromo, @SundayFutures.

We will be right back with Senator Shelby, as we look ahead on "Sunday Morning Futures."

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BARTIROMO: Welcome back.

We're back with Alabama Senator Richard Shelby.

And, Senator, you have been really in the thick of all of these talks to potentially get this government back open. Is there another way the president sees to fund the wall just to get the government open in the process?

SHELBY: I believe the president has got a lot more power to defend this country as the commander in chief than people realize.

And he mentioned earlier today, I heard some -- that he could declare a national emergency. Well, he could. And that gives him more power.

But what I would like to see, us do it through the Congress, through the appropriation process, do it right, because most of the Democrats have voted to secure the wall, a lot of money. Their leadership has.

I think, right now, there's a lot of political posturing going on, a lot of political rhetoric. And we have got to get together and put America first, put the wall, the fence or the barriers or border security ahead of a lot of things of political opportunism.

BARTIROMO: What would calling this a national emergency look like? Do you expect that to take place this upcoming week, where the president calls a national emergency?

SHELBY: I don't know.

But the president has alluded to it already. And I think he's got some inherent powers to do some things. I would hope we could do it ourselves through the regular process. But we haven't yet. And that's the legislative process through the Congress, but we will see what happens.

BARTIROMO: Those furloughs...

SHELBY: This can't go on forever. It could go on a long time, but it won't be forever.

BARTIROMO: Right. And we're coming up to...

SHELBY: And I think the sooner we get together and quit blaming each other and put the American people -- every -- it's going to be 800,000 people out of this shutdown unemployed.

That's going to have a profound effect on this country.

BARTIROMO: And those -- Senator -- Senator, those 800,000 people are now facing a second pay period where they're not going to get their checks.

This upcoming week, January 11, January 13, is the second pay period. Is that going to be pressure for the president to try to give the Democrats something that they want, including getting some money for his border wall, I mean, the pressure of those 800,000 people without a check for the second pay period?

SHELBY: Maria, I hope it's pressure on both sides. It's pressure on the Democrats and the pressure on us to come together, to do our job, do it rationally to secure our borders and to fund the government.

BARTIROMO: Let me ask you about the impact to the economy on this.

Obviously, you have been a great student of the economy with the regulatory environment that you have put in place for the financial services sector.

Yes, we had a good day on Friday after very good jobs numbers, but you have seen the markets. You have seen the upset and the volatility these last two months. How worried are you that this government shutdown impacts the economy? And what can you tell us about the slowdown that so many people are predicting right now?

SHELBY: I think it will have some economic -- an economic impact. How much, we don't know yet.

You know, the economy is the best I have ever seen, Maria, in my lifetime. Look at the jobs report even last week. I think the economy could regenerate itself on another level now. Although the stock market has dropped and gone down, a lot of people, a lot of these high-tech stocks, we could get a second wind and take off again.

We have got a lot going for us in this country, if we put all these things together, quit bickering, quit fighting over little things, and do what's right for the American people.

BARTIROMO: Well, you also have the competition of China.

I'm on my way after the program to San Francisco to interview the chairman and CEO of J.P. Morgan. Jamie Dimon is going to weigh in on FOX Business this week, when I do my interview tomorrow. And he's going to talk to us about what things look like right now, but a lot of people worrying about the numbers in China, how the economy there is slowing down, and their efforts to become number one in so many of the industries that the U.S. is planning on.

SHELBY: Well, we realize trade is a double-edged sword. We need to trade. We need to trade with China.

Right now, we have some estrangement there, as you well know. I'm hoping it'll work out. It should be fair trade. It should be fair to all of us.

And I think that's the message the president has put out. And I think he will bring the Chinese to the negotiating table. It can't be a one-way street just for China. But what happens with our relationship with China does affect the world trade. It will affect their economy. It already has. It will affect ours in the long run.

But we have got to be -- realize that everything should be on a level playing field, as much as we can get there.

BARTIROMO: Right.

So, Senator, let me switch gears and ask you about some of the other pieces of business on your desk in the upcoming Congress. And that is, of course, the confirmation of the president's nominated attorney general, William Barr.

What's the timeline on that? And what are the chances of confirmation of William Barr in the first quarter?

SHELBY: Well, I would think he would -- he has been the attorney general. He served with distinction under President Bush 41.

He's well-respected, I think, on both sides of the political spectrum. He's solid. I don't know any negatives about him. I think he would be confirmed. But I have to go through the Judiciary Committee, the process.

And we need a good attorney general. We need to get him in place as soon as we can.

BARTIROMO: All right, Senator, before you go, wrap us up here on what catalysts we need to focus on in terms of understanding whether or not this border battle gets a compromise.

SHELBY: I hope it works out. I hope that we can secure the border and get the government back working. The 25 percent is -- is --

BARTIROMO: When is your next meeting with your colleagues? When is your next meeting with your colleagues? What is the catalyst that's going to get things moving?

SHELBY: Well I'll be back tomorrow in Washington and this afternoon they're meeting at the White House. I know my top aid, Shannon Heinz of the Appropriations Committee will be at the White House this afternoon. I think they're looking -- they're probably sparring, if you want to say that, to see what they can talk about, how they can get there. They're not there yet but they could get there fast if people would come together.

BARTIROMO: All about who blinks first in the face of this very important and serious issue of border security for the United States. Pretty incredible. Senator, it's good to see you. We'll be watching the developments. Thanks so much.

SHELBY: Thank you, Maria.

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