Skip to main content

tv   Cavuto on Business  FOX Business  September 16, 2012 1:30am-2:00am EDT

1:30 am
>> i'm a bear, a bear, like stepping over dollars to pick up nickels, you're going to-- >> now what? guys, i have a secret nobody else knows this. it's smart boy's birthday. jonas, appy birthday ♪ he's 29? neil is next. >> neil: well, spend now, deal with it later. and bipartisanship is alive and well, but not for the reason reasons, but comes to spending money. like an 8 billion dollar increase in spending to keep the government going, an increase. now, that sounds like a small number, not for the overall big number, but for a lot of house republicans they're getting props for propping up a budget. think about that. all of those who came in and trying it control this passing off on this. so, now, now, what are we
1:31 am
looking at? forget about growing up? how about growing something else? okay. you think about that (laughter) >> stop me, stop me. >> charlie graasperino, and gary, what do you think about that? you think about the republican side, six months to keep it going so the government doesn't shut down. in so doing that, you increase spending. >> i don't blame the freshmen, i blame the leadership, it comes from the top down and neil, there's no grape fruits in washington d.c. i go back to one simple number. in '08, 2.8 trillion federal spending, 3.7 trillion next year, the baseline budgeting where it always goes up and continues. remember, paul ryan is no freshman and he came out with a budget plan with would lower the rate of spending, and guess what, they shut him down and shut him up. >> neil: and lower the rate of increase in spending. and by the way he voted for this sort of what do you call continuing resolution. >> just for six months, but
1:32 am
what a photo op at that was, paul ryan showing up, and he's there voteening favor of it and the vote was 329-91, a pretty shocking-- >> you know what's interesting, charlie, a lot of republicans were doing it because they don't want to be seen responsible for a potential government shutdown and the bad press they were doing. and the moody's downgrade. they didn't want it-- >> is it worth it politically? that's the calculus here. a huge fight over 8 billion dollars. it's a lot of money, but it's probably like 1/5. >> so you're right along with it. >> here is the thing we have bigger fish to fry, medicare, medicaid and by the way, you know, what happened to europe. >> and the republicans now, and they're-- >> and tt the restaurant with these guys and likes them. >> i just spoke with john boehner, i would just say, you have an economy that's, you know, the numbers don't look good right now. the unemployment looks pretty bad and i know the overall
1:33 am
number went down, but because people are dropping out of the work force and now is the time to destimulate. >> but it's a political calculation. the republicans who are in favor of spending cuts are saying, well, we're waiting until november and then we are going to do something big when the republicans, if they take it, if they take the white house, but-- >> that's what they're hanging their hats on. we'll do this because the election and i do want to bring in-- what do you make of the fact that everyone, including mr. gasperino has sold his soul? >> well, it's encouraging that that the republicans-- and this is, let's for cu-- focus on news not old news, charlie knows i'm kidding. it's encouraging, they're not choose to go stand on principle something not worth standing on principle. to their credit, they are committed to having a fight about this after the election and well they should. that's what they were elected for, but they've chosen not to have a fight about it now. and-- >> we're going to be a half
1:34 am
trillion dollars at a minimum. but the the thing, it's an acknowledgment that there's a political process. let me just finish, charlie. there's a political process going on and acknowledging right, we get that. we don't have to wait long to get this, but let's wait until after the general election. >> and obviously, that's what they were thinking, gary, that you know the ends will justify the means, but i always discover, you never get to the end. >> and it's never going to get done. look, spending for whatever reason just continues to go higher and higher and higher and all of this rhetoric from both sides, even from the government side is not going to get done. somehow we got to the point where everybody believes or at least i think insane people believe that if you cut spending, it's going to hurt the economy. >> i'm so-- >> and i'm so-- >> a with all due respending. >> spending will not hurt the economy. >> this is not worth fighting over. it's an insane stupid fight if
1:35 am
you're a house republican. >> neil: and you're starting to sound like a rockefeller republican. >> you have a president, you have a vice-presidential candidate who put a-- >> you have become your source-- join me at the olive garden, folks are outrage. >> you disgust me, you disgust me. >> disgusts me, too. >> and vote for paul ryan, don't fight over 8 billion dollars, it means nothing right now. >> neil: if not now, when? if know the this 8 billion, what? i have no idea what's the-- >> and following you off the cliff, literally. >> and later never comes and now what? this is why the vast majority of the country hates congress. they hate all lawmakers. >> and they love, and they love the president because he's against this sort of stuff. i mean, think about that. >> fabulous. >> and of course charlie is right. >> and wait a minute, does he look-- adam, go ahead, you two are like this. >> and go ahead. >> and here is the point, you
1:36 am
and gary are making the argument this will never stop, the can will always get kicked down the road. it's a plausible argument. >> yeah, because it's proof of-- >> do you have any proof of otherwise, adam. are you kidding? >> and they will to address this in some way in january. we know that. because of the fiscal cliff. maybe they'd kick the can down the road again, but where i also agree with charlie, with unemployment as high as it is, this is no time to have-- >> why, why. >> and by the way, you want to start doing stuff, make a-- >> unemployment as high as it is. >> we have the bowles simpson plan, the ryan plan, where you do it in a concerted, one swoop effort. >> apparently gary k, is concerned about america, even though you're not. gary explain now thank you they're destroying the country. >> let me just say this, unemployment is as high as it is, deficits are so high. not other way around. and. >> nothing to do with-- >> excuse me, are you kidding?
1:37 am
these are like a cloud hovering over the economy and it's a tax on-- >> our lack of growth-- >> it's a tax on aur growth and-- >> lets me see if i understand this professor. our lack of growth is directly related to the fact that we have massive deficit? >> 100% so, my friend. >> neil: certainly compounding. >> and with our tax system nothing to do with-- >> how do you think that's getting worse? >> oh, come on, it's not directly-- >> oh, my god. >> we have a lack of growth. >> dagen, please, please. >> and it does not-- >> i'm going to cut your mic. >> aim blue in the face, but congress and lawmakers will not do jack-all to fix this debt situation until interest rates start skyrocketing and the very interest on the existing debt becomes so burdensome to 0 this nation you can't grow and barely make your payments. >> and paul ryan has got a plan right now. i tell you considering the
1:38 am
fact we're the tallest in the room, that's not going to happen soon. >> now we are a going to alienate midgets. when we come back, and clearly, money is not buying us love. why are we putting down a deposit down on their hate? ac
1:39 am
1:40 am
1:41 am
1:42 am
cavuto on business on the fox news channel, one of the most powerful names in news. >> this is incredible, this is what billions in u.s. aid get you after all of these years, hundreds of millions of dollars to libya alone since we helped that country topple a dictator. and billions to egypt since its people toppled its own government last year. and what happens? before then, after then, they're killing americans. they're burning american flags, they hate what we stand for. why are we looking to the taxpayers for that and why are we paying for this, especially when we don't have the money to pay for this, gary? >> neil, it's a darn good question. it comes down to three words, enough is enough. we should get some sort of return on our investment. hundreds of millions of dollars going that way. and by the way, a lot of that money we don't know where it went and a lot of it's been lost and been picked up by who knows what. it really has to stop and we need it take it all back and
1:43 am
make them earn our dollars, that by the way, we don't have right now and just being conjured up by the fed anyhow. >> neil: now what, dagen, i know the argument you want to keep the moderates in place, but they're a minority and i don't necessarily want to buy their love, but certainly not going to put a deposit down on their hatred. >> it's a tough situation, the vast majority of aid to egypt in resents years, more than a billion and a half every year and the second biggest recipient of aid from the u.s. since 79 behind israel, israel being number one. and the vast majority of that aid goes to the military so it's tough to say if we weren't giving egypt that aid in recent years or whoever that history, would the situation in that country be worse? but certainly, it should be a big negotiating chip in dealing with this country now. and ensuring that our citizens, american citizens-- >> we don't negotiate. >> the egyps military is
1:44 am
probably the most moderate part of the government there. my heart is pulling back money on them you give the money so you have influence over their affairs or some say, some stroke inside that government. obviously we don't, look. >> neil: what do you think, adam. >> great point. i don't -- i don't think it's obvious, dagen made a good point that you can't be certain that we haven't gotten a return on our investment. there has been relative stability in the middle east over the many years of this foreign aid. i'm not saying stability and. >> neil: adam, wouldn't fault stability, but wasn't for mubarak, the days running egypt the understanding he was oppressing people and we glossed over that, he was playing to our interests. >> neil. >> neil: and i'm wondering a slam either way and what financial interest is served by our trying to buy their love. >> so, neil, i'm not against withdrawing the foreign aid. i don't think we should do it tomorrow based on these awful
1:45 am
things that happened last week. if we want to pull it back over the next several years and decide it's not working, let's have a calm-- >> and how many more people do they have to kill to think about it, how many more people do they have to kill. >> it not about that, that doesn't mean that we don't have influence just because of these tragedies. >> it means our-- >> and are you saying we should debate is that way. >> it means our influence is waning and the money we're spending isn't working. and by propping up the, you know, mubarak, even though, you know, he was a brutal dictator. the military in that country is on obviously, much more pro western. however, the people controlling that country right now are not pro western, and-- >> gary, what do you make of that. >> where is the return? >> the question is where is the money going? okay, it's buying influence, that's an intanningable, it's not work, we're seeing people murdered and hundreds of thousands of people there burning our american flag. if that doesn't tell you it's not working, i don't know what it does. bring it back and make them
1:46 am
earn it. >> we've clearly misjudged what's going on in that noigs. >> no doubt. >> based on the fact that we forgave a billion dollar in debt to that very nation and a few days later-- >> but then john mccain was telling a show, look, i feel your rage and i feel your anger, i share it, but if we stop helping the moderate elements who are trying it shut down the crazies we may for it. my point to him was, i think the moderate are outnumbered and the net for us is questionable. >> i think that mccain is right and i understand your point as well. when i said negotiating chip, a bargaining chip with the new egyptian government, it's the fact that we are giving them more money and say, hey, if you need this money, if you need this aid we're willing to pull it back and having that discussion. >> and pre-supposing that the money gets to the moderates. >> neil: that's just it,
1:47 am
that's my points. >> the money goes to the government. >> you've got to think of all of it. we have tens of thousands of troops in germany, tens of thousands in japan, a lot of times we don't want us there. why the hell are we doing that by the way, we're broke? >> not for anything, but i don't think that anybody would have a problem with getting money to the iranian moderate, secular and don't believe in this stuff. >> neil: you better find a lock box for the moderates. >> how do you get the money to them? >> that's my point. >> but we look meek now in many ways. and pull the money back do we look weaker? >> we compound the sins by giving more money into this. that's just my-- >> and we're still a global super power and for 70 years. >> we're a global super power that doesn't have a pot. and we have to recognize your financial limitations and the world mocks us because of that debt and mocks us because we know we're a financial paper tiger and then writing a bigger credit line doesn't
1:48 am
make us look any more manly, you know? >> and that's nothing to do with any of that. we can do better, but we shouldn't disengage from the rest of the world. i think it's-- >> no, i want to disengage with the people who kill us. i want to disengage. >> you're not for taking troops out of japan. i mean, china would just love that. it would just have our influence. >> our troops in japan are stopping china? >> i think it has an impact, yes, i think it has an impact. >> i wish we had more time, i'm so angry at charlie. but we don't. and bang for our buck over there, how about not getting any bang for our buck right here. the forbes gang saying that a new report on poverty in america shows why we need to slash entitlement spending in america and that's at the top of the hour. up next, the just helping iraq, and some
1:49 am
1:50 am
1:51 am
1:52 am
>> (siren sounding). no, i wasn't there. wall street cheering a making a lot of money and printing more money. is the real winner the guy in the oval office, and bern bernanke creating another round of stimulus from the federal reserve. with this coming up 52 days to the election, some republicans are questioning the timing. dagen? >> to paraphrase the wall street journal, this was a big fat campaign contribution to
1:53 am
mr. barack obama by ben bernanke and boy, did he try and separate himself from the politics of this and talked about it in a press conference this past week saying it's only about the economy, but you look at how that market reacted the day of this announcement. >> neil: oh, sure. >> the federal reserve could have waited, as well-telegraphed as this has been changed the date that interest rates would stay at zero, not done anything else, waited until after the november elections, but he decided not to and hallelujah. >> neil: and mitt romney's made clear he would not replace ben bernanke with ben bernanke. he wants someone else. and he said this throughout the primary campaign. the president has been very supportive of bernanke. and i'm just wondering whether it's bernanke's way of saying, i remember what you said, governor, and remember what you've done, mr. president. >> i would just say this to dagen and people who think it's political. have you seen the recent economic statistics and-- >> it's not political ands' responding to-- >> the census data, the middle
1:54 am
class incomes are lower than-- >> and less than two months, this couldn't wait. you had to do it right now. >> the economy is getting-- >> he had to do it right now. >> yes. >> neil: adam, he had to do it right now. >> the market going up is not going to help president obama with unemployed workers in ohio and-- it may the help the economy down the road. i agree with charlie. >> neil: oh, my god, it's like the upsidedown world. gary? >> ben bernanke has now become the biggest bundler in the history of time. >> that's a great line. >> and listen, a little overboard. >> it's better than-- >> and you think that he could have waited, right, but he didn't. >> of course. >> and the numbers are-- the time was of the essence? >> neil, there's only 52 days to the election, we're not in depression, grosse pointe woods number is not, housing
1:55 am
is not an anchor, this has to do with mitt romney saying he was going to can this guy's rear end. if he became president and there was no reason to do this. >> and adam, do you agree? >> i just think that's incredibly callus to impugn his integrity. >> why did he do it? >> bernanke knows one thin, fiscal policy and obamanomics have failed and-- >> dagen? >> i'm glad there's a love connection made on this show today between charlie and adam. >> neil: not the one i intended. where is adam? well, i want to thank charlie, i want to thank dagen. man, oh, man. up next, the mar
1:56 am
1:57 am
1:58 am
1:59 am
>> neil: hot stocks that could head lean higher. what do you have, gary? >> neil, i absolutely love gold. i own it. bite proxy gld. i believe it will be a double within the next couple years. the fed move started this up. >> neil: could be an inflationary pick. >> as the fed move make this a good pick for gary right now? i have no idea if it's going to double. i think speculating in currencies is exactly that. speculating. so people need to know what they're doing. >> neil: what were you doing? >> linar, the home l it's done extremely well, pay has nice dividend. one of the reasons it's done well is it's gotten so bad. essentially really doesn't have anywhere to go but up


info Stream Only

Uploaded by TV Archive on