Delta Airlines Grounded Due to Computer Outage; Trump to Make Economic Speech Today; Clinton to Address Same Group Later This Week;

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SMITH: Wow.

MCDOWELL: That one was quite clever.

SMITH: There is -- they're even suggesting if you want to delete that -- we need to (inaudible) private information that might be a good idea. But Delta is responsive on their Twitter site but still no clear message as to what happened.

MCDOWELL: They're trying to rebook people for later in the day, and trying to work with them on Twitter.

SMITH: All right. We'll update you as we have any details on that.

Let's turn now to the latest from the campaign trail. Donald Trump today will give a major economic policy speech at the Detroit Economic Club as he tries to revamp his campaign. Maria Bartiromo on "SUNDAY MORNING FUTURES" asked Trump's campaign chairman Paul Manafort about the details of Trump's economic plan here is what he told her.

(BEGIN VIDEO CLIP)

MANAFORT: -- a growth economic plan that will focus on, not just lowering taxes, but will focus on cutting deregulation, you know, unleashing America emergency capabilities, focusing on things that will help the middle class be able afford their lifestyle, try and get wages to have real growth as opposed to the stagnancy that we see today.

(END VIDEO CLIP)

SMITH: In her special for "USA Today", Maria caught up with one of Trump's economic advisers, the Heritage Foundation distinguished visiting fellow Steve Moore for an early look at Trump's economic plans. According to Moore at the heart of this plan, is a 15 percent corporate tax rate -- that is down from 35 percent currently. There will also be a middle class tax cut. It will eliminate the estate tax the alternative minimum tax and the marriage penalty. Finally about 90 percent of Americans will be able to take a standard deduction.

Let's bring in senior economic adviser to the Trump campaign David Malpass. Should we expect to hear more on those details at noon today?

DAVID MALPASS, TRUMP SENIOR ECONOMIC ADVISER: Hi -- good morning.

Yes, there will be a whole speech at noon today from Mr. Trump. And some of the information will be coming out then at that time with detailed fact sheets. But the key thing is to think about the economy as waiting for growth. Growth can be unleashed but you have to change policy.

The problem with Hillary Clinton's plan is that she just plans to keep the policies the same way. She is going to be in this hard spot of having to defend Obama's 1.2 percent growth rate over the last year.

Trump is talking about tax reform proposing. He's proposing tax reform, regulatory reform, energy reform and trade reform all of which will bring the growth rate much higher and raise the real median income.

SMITH: When you say that David, what kind of growth rate are you predicting based on these changes that Trump is proposing?

MALPASS: I think we can see 4 percent but look when Ronald Reagan did a major tax reform like this is envisioning, growth went to 7 percent even went 8 percent. Even when George W. Bush did a tax cut in 2003, growth went over 7 percent.

This is the first administration where growth simply has not gone over 3 percent. We don't really have a recovery going. So there is lots of prosperity that can be unleashed through better policy.

SMITH: I want to talk about the debt this country faces -- David. You've eased off on your statement Trump will be able wipe out America's $19 trillion debt in eight years. What do you now say -- is it doable?

MALPASS: We want strong finances for the U.S. We don't have that now. CBO is projecting that the national debt will go up by a trillion dollars every year over the next 10 years under the Obama -- under current policies. So the goal here is to have much faster growth -- that causes the whole economy to begin investing more.

Look what happened in 1980s Reagan did the tax cuts and within 10 years the deficit had moved into a surplus. Now, that also had to do with the cut in the capital gains tax rate in 1995. But the success was from having the economy get bigger at a rapid pace and that requires better policies from the federal government.

MCDOWELL: David -- it is Dagen McDowell. Is Donald Trump going to talk about this idea that he's going to do double what Hillary Clinton has proposed in terms of infrastructure spending? We're looking at maybe more than half a trillion dollars that he is talking about.

And I personally have mocked the idea out of President Obama for the last seven and a half years because I swear he's mentioned infrastructure spending as some sort of magic elixir to getting the economy going. And Martin Feldstein even said he was like you don't need infrastructure spending to grow the economy. So is he going to hammer down on this idea today?

MALPASS: Hi Dagen. Well, I think we do need a lot more infrastructure. A lot of that can come from the private sector. It can come from efficient use of federal funds than what we do right now. So I think we do need to see more infrastructure but the focus of the speech today is on tax reform, regulatory reform, trade reform and energy reform. All of that is really going to make the economy go.

Look, the spending -- Washington is really out of control on spending so I think there has to be a whole program to make more effective spending. And Donald Trump has talked about making the government --

SMITH: All right. So David --

(CROSSTALK)

MALPASS: -- work more like a business, more like a business.

SMITH: -- I want to talk about the people involved that he's employing to get this done should he be elected he president. You're on Trump's economic advisory council. Other names include billionaire hedge fund manager Don Paulson, investor Wilbur Ross, and Oklahoma oil magnate Harold Hamm among others. But some criticize that these -- there's not enough economists on this list that you're looking. What do you say to that?

MALPASS: Hi Dagen -- I mean --

SMITH: Sandra. It's all right.

MALPASS: I'm sorry Sandra. I didn't hear you go back.

SMITH: No, we're just switching around on you. You can't see us, we can see you -- go ahead.

MALPASS: Look, I think it's good not to have too many economists. The critical thing here is to have good business managers that can make the government more effective. You know, if you look back on these years where the U.S. has done poorly and in the economy, there just aren't enough good business managers to make it operate.

So I think this is a good team. Everybody is working together. You are going to see a good plan at noon from Trump and that is going to then be able to be implemented by cabinet. He's going to talk some about the cabinet and the importance of the cabinet itself running a better effective operation.

SMITH: All right. David Malpass -- thanks for joining us this morning. Good to have you.

MALPASS: Thank you.

SMITH: And make sure to tune in for Maria's interview with Donald Trump tomorrow at 7:00 a.m. Eastern. It's happening right here on MORNINGS WITH MARIA.

All right. Up next the northern Gulf Coast is bracing for heavy rainfall and widespread flash flooding this week. More on that super storm that has the state officials urging Florida residents to stay inside.

Plus the infamous Playboy mansion, there it is, is back on the market. Inside the much-hyped $100-million deal that fizzled into thin air.

(COMMERCIAL BREAK)

SMITH: Fox Business alert this morning.

Residents across the northern Gulf Coast now preparing for heavy rain and potential flash flooding. Dagen McDowell has that story and other headlines this morning. Hey -- Dagen.

MCDOWELL: Hey -- Sandra.

A powerful weather system stalling over northern Florida, the peninsula there, expected to dump heavy rain in the northern Gulf Coast this week. Forecasters say that eight to twelve inches of rain could fall across the region in just the next few days. Combined with high temperatures, heat indexes could hit 107 degrees.

More media companies will report their quarterly results this week. News Corp will post its fiscal fourth quarter results after the closing bell. Earnings per share for the publisher of the "Wall Street Journal" expected to nearly double from a year ago to 13 cents a share while revenue is seen falling nearly 4 percent to just over $2 billion. News Corp and 21st Century Fox parent of the Fox Business Network were part of the same company until mid 2013.

And we just got earnings in from Allergan, the maker of Botox earned second quarter adjusted profit of $3.35 a share -- that was a penny above expectations. However, revenue of nearly $3.7 billion did miss expectations.

And it looks like Hugh Hefner has blocked a deal to sell his Playboy mansion. TMZ is reporting that the impending sale of the mansion has fallen through. The buyer was 32-year-old Daren Metropoulos. He is the son of a billionaire businessman who has become known for saving companies including Ghirardelli Chocolates, Hostess and Bumblebee Tuna. As part of the sales Playboy founder Hugh Hefner had the right to live out his life in the mansion and be left along but Metropoulos wants to begin restoring the mansion and adding on to the structure. That was the problem for Hef so after weeks of talks the deal is kaput. The mansion going back on the market today -- Sandra.

SMITH: Wow. All right. I am sure we will be watching that one.

Thank you -- Dagen.

MCDOWELL: Thanks -- Sandra.

SMITH: Up next widespread outrage continues over the Obama administration's payment to Iran. We'll tell you what $400 million really looks like.

Plus the Pokemon Go craze sweeping across the world. And one player has done the impossible. He actually caught them all.

Back in a minute. Keep it right here.

(COMMERCIAL BREAK)

SMITH: All right. A lot of people are worried about that Delta outage that has caused all flights to be grounded this morning, worldwide.

Dagen -- you have an update for us?

MCDOWELL: Yes. Delta is saying that a power outage in Atlanta, its home base, triggered the computer system to freeze. This is from a statement from Delta, "A power outage in Atlanta which started at 2:38 a.m. Eastern time has impacted Delta computer systems and operations worldwide resulting in flight delays and cancellations today." Delta's information technology team is working to resolve the problem but no resolution yet. So any plane that had not taken off when this power outage and this system freeze occurred is not taking off at this point.

So there is a grounding worldwide at this point. If it was in the air, the flight is then, you know en route, and on course and fine. But again, it was a power outage in Atlanta where Delta is based that caused this computer outage.

SMITH: Unbelievable. And it caused flights to be grounded across the globe this morning on a Monday morning when a lot of people are trying to get to destinations business-wise.

MCDOWELL: This says that there was no backup power.

KELLY: Yes.

MCDOWELL: There was no backup power, no generator and just really quick compared to here I have been on the air when there was a blackout in New York City. There wasn't a blip in our coverage, not one blip, because we are driven by a giant backup power system.

SMITH: And quick note -- Delta shares are trading lower in the premarket ahead of the open there looking lower.

All right. We'll keep watching it for you and update you as new information comes in.

Meanwhile the Obama administration had $400 million sent to Iran in foreign currency (inaudible). That coincided with the January release of four Americans detained in Tehran. Senator Tom Cotton had some words for the administration regarding their actions.

(BEGIN VIDEO CLIP)

SEN. TOM COTTON (R), ARKANSAS: The administration has consistently stone walled Congress and the American people. We didn't know the cash payment for instance. We didn't know that it was paid for with bills that can be he easily laundered and used for terrorism, or support for Iran's allies throughout the religion. And we didn't know that the Department of Justice opposed it.

(END VIDEO CLIP)

SMITH: Wow.

Joining us now is New York Congressman Lee Zeldin. Congressman Zeldin -- good morning. Good to see you.

REP. LEE ZELDIN (R), NEW YORK: Good morning.

SMITH: Your thoughts on Cotton's response that we just heard.

ZELDIN: Well he has certainly been a leader in calling out this administration on the Iran policy. Congress appropriates funds not the President. This has been an issue on a lot of different topics. There is a case rights now going through the federal court system with regards to the Obama administration appropriating funds with Obamacare.

But in order to be able to pay $400 million for the return of these four American hostages, the President doesn't have the authority on his own to do this and to keep the entire nation, including congress, completely in the dark. And it is important for the American public to demand accountability. We give free passes -- if you remember, October 2012 when foreign policy was a topic during the presidential debate Obama mocked Mitt Romney on what's the world's largest geopolitical threat and Mitt Romney says Russia and the President says the Soviet Union called, they want their foreign policy back.

We, the people, American people need to demand a more thorough vetting because this President was wholly unprepared and unaccountable still to this day.

HILL: Is this a surprise that he has continued to mock real challenges to our national security. Look, he compared Islamic terrorism to slips and falls in bathtubs (ph). This is a guy that just fundamentally does not recognize this whole terrorism and the rise of Russia and Iran has on not just the American psyche but on national security. It is the most frustrating and dangerous thing that I have seen out of this administration.

KELLY: Isn't one of the problems with the $400 million that went over there is they're actually funds in cash and it's going to be used to actually fund Hezbollah, the war in Syria and the Assad region. I mean Congress has not officially declared war actually yet on either, you know, the war on terrorism. We know it's happening but we haven't declared an official war -- right? So that is a problem. But also he gave seven prisoners back to Iran as well as part of this deal.

ZELDIN: So the seven people on our side where we're making concessions, these people actually committed crimes. On Iran's side these are four unjustly-imprisoned Americans who actually didn't commit any crimes. Iran is using that money to fund Hezbollah as you mentioned, they funded the Houthis in Yemen to overthrow the foreign government there. Assad in Syria -- there's also the test firing of intercontinental ballistic missiles in violation of federal law.

The President actually wants us to believe that a $400 million cash payment made at the same exact time as releasing four American hostages is a coincidence.

MCDOWELL: We did an end round of our remaining sanctions on Iran by making this delivery. That is why it was converted into foreign currency because it is against the law to trade with Iran in U.S. dollars. But what are you guys going to do about it? The money is gone.

ZELDIN: And the reason why the Iranians came to the table was the sanctions release. The biggest things right now legislatively is that this administration -- I am on the House Foreign Affairs Committee -- we had Ambassador Mall (ph) who's overseeing the implementation of the Iran deal for the administration. We were asking him about Iran Sanctions Act and it was clear that the Obama administration actually wants to let the sanctions act, Iran Sanctions Act, expire at the end of this year.

At very least we need to renew the Iran Sanctions Act if not even strengthen it because this -- they are not only undercutting American foreign policy today they are setting the next president up for failure.

SMITH: All right. We want to ask about this, Congressman Zeldin, you are advocating for a drag strip at a rally in Long Island the last week. Tell us more about what you were looking for in order to get that track in New York.

ZELDIN: Long Island has a huge history. We had the first race, the Vanderbilt Cup, was on Long Island. Long Island Motor Parkway was the first time we had -- anywhere in the world where we had a roadway -- limited to just automobiles. Long Island --

SMITH: What are we looking at here?

ZELDIN: This is Riverhead Raceway on the east end of Long Island, the first congressional district of New York. We had several hundred people came out. Long Island once had three drag strips. There's the economics where all of that money goes outside of New York State. People go to New Jersey and elsewhere.

This is a big industry. It's not just recreational and cultural. There is the economics. There's also public safety. We don't want people racing on the roads so even in New York State there is support for the motor sports industry.

SMITH: Wow. All right. So you have --

MCDOWELL: The race in -- the race yesterday -- Nascar yesterday was at Watkins Glen which is in New York State which it was sold out. That is how phenomenal a track it is.

SMITH: Cool.

MCDOWELL: Yes.

SMITH: Very cool.

All right. Thank you Congressman Lee Zeldin for being here this morning.

ZELDIN: Happy to be here.

SMITH: Good to have you. And good luck with your efforts there.

ZELDIN: Thank you.

SMITH: Ok, up next outrage over Hillary Clinton's plan to fast track immigration reform. We'll have the details straight ahead on that.

And later even the bad reviews cannot kill "The Suicide Squad". We'll tell you how much cash the super villain flick earned at the box office over the weekend -- big numbers.

Back in a minute.

(COMMERCIAL BREAK)

SANDRA SMITH, FBN: Welcome back, I'm Sandra Smith. It is Monday, August 8. Your top stories at 7:30 a.m. Eastern. Delta flights around the world have been grounded. The airline says a power outage in Atlanta triggered a global computer outage. Flights are still delayed, and Delta expects large-scale cancellations to happen today, and fliers are very frustrated. Delta, @Delta is tweeting away to those passengers.

All right. Donald Trump gearing up for a major speech on the economy happening in Detroit midday today. Trump will be in the Motor City looking to shift the focus of his campaign back to policy. Hillary Clinton will head to Detroit herself for her own economic speech. But she also previewed her plans on immigration reform.

(BEGIN VIDEO CLIP)

HILLARY CLINTON (D), PRESIDENTIAL NOMINEE: We are going to push on immigration reform.

I will do everything I can to help elect a Democratic Senate and I've already talked to some of my former colleagues in the Senate. This will be fast-tracked.

(END VIDEO CLIP)

SMITH: The outrage ahead. Dozens of people killed in Mexico. The rains from Tropical Storm Earl leading to landslides, the latest coming up.

Turning to markets this morning, we are looking at stock index futures here in the U.S. pointing to a higher open on Wall Street. Albeit small gains that we're seeing right now, NASDAQ futures leading the way up 0.25 percent. In Europe, stocks higher there as well. We've seen the FTSE recently turned into negative territory, down just a fraction of a percent. The CAC 40 in France still higher. The DAX in Germany leading the way as far as gains up one percent. In Asia overnight, gains across the board there. The Nikkei soaring more than two percent. That was a reaction to Friday's big jobs report here. So positive sentiment felt across markets there.

Hugh Hefner looking for a new landlord. The Playboy Mansion back up for sale. Why the $100 million deal fell through.

Bad reviews not hitting "Suicide Squad's" opening weekend. We have the full box office recap and the big numbers that were posted over the weekend there.

Hillary Clinton and Donald Trump engaging in a war of words over Hillary Clinton's far-reaching immigration plan. Hillary Clinton expanding her plan to quote, end deportation for millions of illegal immigrants and fast- track legislation to deliver on her promises. Meanwhile, Donald Trump claiming that the Democratic nominee would assume quote, kinglike powers that would hurt Americans.

Let's bring in Fox News Senior Judicial Analyst, Judge Andrew Napolitano is here. Good morning to you, Judge.

JUDGE ANDREW NAPOLITANO, FOX NEWS SENIOR JUDICIAL ANALYST: Good morning, Sandra. So part of this story is old and part is new. The old is that President Obama made these proposals in Congress which were rejected, which would allow people, adults of citizens, the children of citizens, the adults are here illegally, would allow the adults to stay. Congress rejected it. The president signed 12 executive orders changing the law, saying they're going to stay anyway. It was challenged, it was defeated in the courts. The defeat as upheld by a tied vote on the Supreme Court. That's the old part.

The new part is, Hillary Clinton wants to make the same proposals to Congress should she become president. She went five to six million undocumented immigrants who are the parents of children to stay here, even though that's not the law. If Congress changes the law, you can make political arguments however you want, that will be the law. The question is, that Donald Trump raises, if Congress does not change the law, will she do the same thing President Obama did? Write an executive order that purports to change the law and then secretly, secretly begin following that executive order?

SMITH: Sounds like more of the same of what we just had.

HARLAN HILL, DEMOCRATIC STRATEGIST: Well, this is what we've been railing against. People think that Bernie Sanders supporters are socialists. They're not. They're people that are Fed up with the establishment and business as usual. That's why people like me, I think, are getting behind Donald Trump. Because this isn't really about politics. This isn't left versus right. This is, the system is rigged. There are people that are not following the constitutional laws on the books, and they're just making it up on their own.

NAPOLITANO: This is the reason Donald Trump used the phrase -- I think this is the reason, kinglike powers. Because of the federal judge in Texas who initially stopped the President from enforcing his own executive orders basically said, these are the orders of a king, because you have rewritten the statute.

DAGEN MCDOWELL, FOX BUSINESS NETWORK HOST: So even if her statute -- her executive order, rather, not a statue -- is exactly the same as the one that the President wrote, it would still be able to push through until it was fought in the courts because it is a new president?

NAPOLITANO: I would think that the people who challenged the first, which are 26 states, because when undocumented aliens stay here, the states pay for the basic social safety net.

MCDOWELL: They're required by a Supreme Court ruling to pay for public education.

NAPOLITANO: Correct. And emergency room services and certain welfare transfer benefits. The same plaintiffs would make the same application against the executive order before the same judge in Texas and the result would be the same. But we would still have a president who thinks that she, in this instance, can write laws different from the Congress.

SMITH: All right. So I want to move onto this, Judge. Hillary Clinton has a new explanation for her inconsistent answers regarding her e-mails. This time she is claiming that she may have quote, short-circuited her responses, which is why they seem to be at odds with FBI Director Comey's findings. Judge, is that new terminology going to win her any points on her trustworthiness, which is low?

NAPOLITANO: If the past 24 hours is any indication, that new terminology is hurting her. This is her own choice of words. So here is what happened. When Chris Wallace interviewed her last Sunday, she said, well, the FBI said I was telling the truth. And Chris challenged her, and quite properly, and she stood firm on that. We all then reported out that what the FBI director said was, we had no reason to believe you lied to us. Now the "to us" was a secret non-recorded, no notes made and revealed interview. We don't know what they asked her.

But then she said, OK, I short-circuited -- and what she means by short- circuited -- a short-circuit occurred in her brain, according to Donald Trump. And what I really meant to say was, the FBI exonerated me from what I said to the FBI, and I said the same thing to the FBI I've said to the public. That cannot be. Because she told the public many times, she neither sent nor received anything that was classified, and the FBI found 110 e-mails that were confidential, secret, or top-secret in 52 different e-mail streams, 25 top-secret, 5 select access privilege, which means the FBI can't read them. And this morning we learned that an Iranian scientist who has executed over the weekend for spying on the U.S. was the subject of one of her leaked e-mails. Question -- in his trial in Tehran, was Mrs. Clinton's e-mail, referring to him as our friend we need to help, used as evidence against him? That's Senator Cotton's argument over the weekend that she is utterly unworthy of possessing and retaining state secrets.

SMITH: Wow. Judge, you paint a really ugly picture there. What do you make of the state of the campaign right now in general? I rarely ask you politics, but honestly.

NAPOLITANO: If the issue is Donald Trump's worthiness for office, I don't think he'll win. If the issue is, do we really want a third term of Barack Obama? I think he will win. So his task -- and Paul Manafort knows this - - is to control the subject matter of the debate.

MCDOWELL: That's why President Obama, in front of a world leader, said that about Donald Trump last week, because he is a politician above and beyond everything else, and they're trying to make it a referendum on Donald Trump and they're trying to bait him.

NAPOLITANO: And the arena in which the President said that was so highly inappropriate. Our relationships with Singapore, and Singapore's relationships with China are so tenuous, for the President to have injected raw politics in as harsh a manner as he did in front of the Prime Minister of Singapore was reprehensible.

KEVIN KELLY, CIO, RECON CAPITAL: But the problem is that the Trump campaign isn't fighting back.

MCDOWELL: They are now. They got their stuff together.

KELLY: No, but you watch the Olympics, the Clinton campaign is running ads, Trump isn't --

MCDOWELL: It's not the ads. It's how the man behaves --

KELLY: But you're talking about the referendum on Donald Trump. They're airing that referendum on TV.

MCDOWELL: It's not the ads. It's how he behaves. And he was on script and on message day after day at the end of last week. And one thing about Hillary Clinton's lies, Judge, it's maybe not ironic, but she didn't lie to the FBI because she knows that's important. Because if she lies to them, she would be indicted, potentially. She feels comfortable and free lying to the American people over and over again, and that's repugnant.

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