tv Lou Dobbs Tonight FOX Business July 12, 2013 10:00pm-11:01pm EDT
it will be exciting. thank you for joining us. have a greatight. we will see you on monday. lou: good evening. thank you for being with us. egypt in the state of chaos after the ouster of president morsi removing him from power is a to witany reasonable understanding of the definition of the word unless you are the president of the united states. the oma house refuses to call the ouster a coup. the violent clashing in the streets with morsi supporters in more than 50 people killed but listen to the president's press secretary who talks about
wi it, understanding of what is happening. >> president obama made clear our deep concern made by the egyptian armed forces to suspend the constitution is also important to a knowledge tens of millions of egyptians have legitimate grievances with president morsi and undemocratic form of governance they do not believe it is a coup. indeed they were demanding a new government. lou: oxford english dictionary defines it as sudden and violent removal of power from a government. said do they really want to say they can't recognize any foreign government that has en delegitimized because enough of the country's citizens have grievances the president's spokesperson did have the motivation for
the reluctance to label the action 82. >> 1.$5 billion of aid is under active consideration to cut off the aid. >> dell think to be in the best interest of the united states to imediately change our assistance programs. rethink. not justify. we think it is not the best interest of united states. we're reviewing our and obligations under the law. lou: he caught himself just in time with the first-person reference. with the foreign assistance act of 1961 requires the government to restrict the assistance to the government of any countryhat kevin is supposed by military coup or decree. the administration has decided to ignore thlaw and continue moving money to the egyptian military.
but now to avoid further embarrassment after his decision to aggressively support the muslim brotherhood in the fiction that elections equal democracy. joining us toght former federal prosecutor andrew mccarthy and the author of the best seller book the grant jihad and spring fever. great to have you with us. the press spectacle to watch the secretary and the administration refusing to call what has happened a coup. your reaction? >> ihink it is laughable the underlying reason is because the law would call on them to cut off aid and they have not paid attention to the law up to this point. the president decides to make recess appointments
when congress is not in recess and during the libya festivities he would not ll whahe was doing a war because that would trigger obligations under the war powe resolution. lou: what doou make of a president who decides he will take sides that united states has not been engaged or will not take sides in egypt where we have been a constant and steady friend and ally of the finance year for decades? >> it is a big problem for him because he really has taken sides. the muslim brotherhood in general and he is more sees biggest supporter now a lot of aid goes to the mid -- egyptian attila -- egyptian military.
we give aid to egt to maintain the peace with israel and counterterrorism. for my many we have a lot more of that today. lou: and for the taxpayer you think it should be continued? >> yes. i think it is worth having a discuson broadly about foreign aid with egypt in that context but given we continue to support them well the brotherhood was in power now the regime is more pro-erican it seems it sends the wrong signal for the most to the aid we have given them is already in the pipeline so i would bite my tongue in wait to see what happs. lou: what you think of senator john mccain calling for the suspension of aid to egypt? this is a republican senator
, a failed presidential candidate who seem compelled to step to the forefront to speak on foreign policy issues almost as if he were the executive. >> as i rode ove the weekend when iraq was falling mccain said the muslim brotherhood should be kept at of the egyptian and government because they were a sharia activist thinking that was not mocratic. no that they have done what he wanted them to do now he wants to cut off aid. today is monday he knows where he will say on wednesday. lou: inconsy seems to be lit -- elusive. the president himself says the aid to egypt was based on the appearance to democratic procedures.
"the washington post" gave him a three pinocchio's that would be six for any mere mortal because what could he possibly have been thinking? >> he has adhed agaiain and again and the rhetoric would be thrown out with any other position that elections equal democracy he has rejected that to get true democracy you have to have as a precondition a democratic culture you cannot just bring it into beingith a popular election. lou: senator cruz said''
lou: the senator continues, in my judgment judgment, articulate intelligent propositions of the situation better than the agencies of any part of the executive branch and most of those that make up the congress d the senate. >> the senator is entirely ght now we need to move to the next up to the egyptians were smart enough to get rid of them maybe we should stop having muslim brotherhood people in the government to have a great deal of persuasive force with foreign policy because that has been a big problem since the administration has come in. >> coming up the administration considers the zero option in afghanistan. jeff miller will offer his perspective next.
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lou: turning now to reports that the obama administration is considering withdrawing all troops from afghanistan the zero option. politically motivated maneuver to aid the obama administration dealings with the uncooperative afghani president carter site and for the president to disengage from the most frustrating for a policy failure. jennifer griffin has our report. >> "the new york times" exclusive said it tapped -- tongues wagging saying is
that having obama consider the zero tripp option. appalling all troops from afghanistan leaving nine behind after 2014. >> the white house has made clear there is the zero option on the table. >> the state department pointed to the gina marie eight conference call th on the eve of president karzai visit to washington d.c.'' the president does not view these as a goal to keep troops in afghanistan. >> it is important to note we stated here, i think here but in public in january that's it was an option. >> it was a shotcross the about. th president is very upset at the karzai attitude in the fracturing relationship but he wants to say he still has the option to pull out the american rug from underneath him. >> that videoconference between the president and
karzai would tip the balance civic i was told it was the unmitigated disaster. both presidents went after each other with karzai traing to cut off relations with the united states because we talked to the taliban and the president tries to get his agenda through to karzai if he is not liening. >> it also reminds people how the forces left iraq after they could not negotiate an agreement to allow any troops tuesdaas a stabilizing force. in m alone 1,000 iraqis were killed in sectarian violence making it the most by the month in iraq since the surge in 2007. >> they're not any similarities between iraq and afghanistan. >> but the office has been closed in protest after president karzai said it is setting up a governme-in-exile.
lou: jennifer griffin chief national security corrpondent. with theolitic instability in egypt the muslim brotherhood rejected the plan to fast-track election and adopt the islamist drafted constitution after the interim president was named. joining us now is congressman jeff miller also a member of the armed services select committee on intelligence. good to have you with us. >> good to be back. lou: start with the zero option. this obviously is a trial balloon in an effort to prepare the ground for what may be the president's position to move forward to full withdrawal of all trips
spivvy this is something obama had his sights on for a long time but we will give up a lot of the ground gained by those have given their lives and shed blood a lot of this country's treasure iproviding the afghan people to stand on their own 2 feet and to do it too early is a huge mistake. lou: this president has made no secret he is supportive of the muslim brotherhood of the years and months leading up to the morsi ouster. we learned the muslim brotherhood will be part of the interim government. where should the united states be? we have john mccain republican senatoror seemingly speaking for the party saying we should end a to egypt and the president says
we shot. what is your judgment? >> it is a political choice that someone to do. unfortunately i don't think it is the right move to make because egypt is critical to believe better not, i keep the peace with a very important ally in israel. the issue is whether or not what you called in egypt a coup. i picked by all definitions it is because the military went in to take the lead errata office. both of us would call it a cut -- comedy to it because even if the president doesn't. he wants to continue to give aid to egypt and i do support him in that situation but time will te. lou: our military this week begins a furlough of 650,000
defense department employees taking 11 unpaid days in the army will cut 12 combat brigades for congressman congressman, how can this be? >> we have fighter wings on the ground, ships stayi in the port, aircrafaft carriers that is suppose to be leaving and not able to do that. we try to give the president flexibility in the department of defense through dollars around to make savings where they could but unfortunately he has chosen to use the most severe pressure that he could to make the public react to what is going on. we try to make sure washington stays within its means and we have a long way to go. unfortunately sequester was a trigger that finally brought everybody to the table.
lou: i am not sure what has occurred and who remains work is even that correct table to be see to that -- seated out. >> the american public understand there are those of us that think we need to control spending unfortunately some of that happens within the department of defense rethink there are places you can lessenhe dollars being invested right now in certain instances but unfortunately the president says the best way is to close the white house and to start fuough the civiln population. lou: the republicans' response is what? good for the budget? talk about living within our means as a people under the
government but then there is no modesty or constraint with the ambitions or the administration that preceded it which a rival stresses of men and women in uniform stand if there is no problem if you constrain the military with a mission that we ask them to fulfill. >> we go to the process right now. we have reversals from iraq. here ithe president lking about doing something in syria and there is no appetite we never should have gone into libya in the first place in my opinion. i think the republican house has trying to put optio in front of us that don't raise taxe in order to get spending under control but the problem you talk about not only talks about active duty but also the veterans.
lou: and facing as you know, , it is obsce what we're doing to those vetans who are being denied benefit. we're ouof time. welways like to hear your clear and well reasoned ways i said i could go alongith a brigade but what i meant as long as we constrained the mission. for the life of me i do not know how we can do this to our military, given all the challenges we face and i hope we find a way to be constrained as well as reasonable to ensure the nation's interest. >> is the only thing
constitutional we are supposed to do to provide the defense to the american people. that is what we wish you be doing. lou: a man. up next obama calls on congress to hphem reorganize to run government agencies in the name of efficiency. with the "chalk talk" we will see why he suddenly needs all of the help he can possibly get.
>> keep on doing what we can administrativelyut we sure could use congress's help at a time when the city one re efficient government and they give lip service to it. lou: the presidenuses that himself as he calls on congress to hp him run the federal government better. we're not even in six full months in to the president's second term and he cries for help and he needs all he can get. here is his painful year to date marked by an utter failures and uncertainties
his year-to-date performance just going straight to the abject failures failur to oppose gun control that has sucked up much of the energy resulting in nothing but created a backlash instead of tightening n control laws but only five tight ends them as the president asked. scandals go lower controversy over benghazi, irs and the justice department most recently edward snowden and sucking up what energy this administrationan muster in of course, the sequester. the furloughs started for more than 650,000 because of the administration the failure to stop the mandated budget cuts but by the way
for historical reference sequester itself is the brainchild of the obama administration. they are projected to save the department of defense one pre-au cannot help to thinkf he did not go on a weeklong trial -- a trip to africa where so much money was spent, more than those 35,000 sequestered employees would have been scared. now precarious uncertainty uncertainty, immigration reform as some like to call it zero or there getting debate. those terms don't go together but the white house is desperate to have legislative victory by the end of the summer but the way house leaders are talking that is the likely to happen.
imementing obamacare. the health care law is the gift that keeps giving. with the employer mandate they still have it coming we get to p up for the we also learned it will allow subsidies not using a template of certain criteria but on the honor system those seeking government aid will not have to give any proof of their income for example. this is a peculiar administration by any measure at all. of course there is egypt. when the president was racking up domestic failures in the first german least he could have secured been lauded but so far for policy this year looks le a full one failure if not the all
right disaster. up next and the weeder now eliot spitzer throws his name into the have are that high in the ring? i don't remember how wows. you'll never believe if who he is running against for the job of new york city comptroller. you will love it. the "a team" takes that up. next. the pursuit of a better life for our children is something we all share. but who can help prepare them for the opportunities ahead? who can show them how to build on your success, but not rely on it. who can focus on making your legacy last for generations to come? that someone is a morgan stanley financial advisor.
-- the city's next controller and what is strange he is competing agnst the manhattan matt young, the woman who said she supplied him with hoers. joining us now to assess the deep political currents monica crowley former pentagon official k.t. faand the president of citizens united foundation david, thank you for being here. let's start with the most important news spitzer could face the former madam but anthony wien is contesting for the mare. >> you could not make this up or even with these characters that anyone would beeve kirk of the irony he will run againsthe woman
who supplied his hooker's when she has already declared and did in the of race. her tweet said this will be the most fun campaign ever. then she gave a serious interview where she set i broke the law granting the call girl ring i went to jail and paid my debt to society. eliot spitzer never did this so she will spend every minute of the campaign reminding the people of new york he never paid his debt to society. lou: your thoughts as we see them seeking forgiveness but why not on the matter ofho has paid her debt? >> new york especially is a place for the second act. one of the greatest of the 20th-century is richard nixon. he lost the presidency and could not run for governor
of california but he came back dan monaco worked for him in 68 and ended the war in vietnam was piece of the released, arms control it didn't show up so well. >> is that a recommendation? >> she is the incredible optimistic. idled think they stand up in richard nixon's shoes. they're the lowest of the elbow and those of the democratic party have to be called into question for even considering these to be serious candidat it says something about the democratic party and democratic voters unfortunately. >> i put my vote for the
madam. she ran an effective small business, she knows what they needed in new york city i will vote for her. >> she can keep the books. that's for sure. >> the white house refuses to call the ouster of morsi a coup. why is this administration suddenly so interested in the niceties of regulation and a law which they have ignored throughout the presidency? >> because if they do it triggers lislation tt says we have to suspend aid. they don't pay attention to the other laws. lou: why would they pay attention to that one? >> in every case with regard to egypt this administration has always done the wrong thing.
there should have pressured mubarak, they didn't. mapl the rug under out from him when they should not have. then morsi came as they embrace him then he slowly and systematically dismantles democracy the to do rethink but now when nobody likes him, they sit on the fence. lou: in the president says he is notaking sides but he is taking sides he is with the muslim brotherhood. >> that is nonsense they supported the muslim brotherhood since they arrived on the scene. they have been waiting for this moment in egypt the place of its founding for over 80 years. they were not going to blow it. they wl not go quietly. that is why you see ao al
qaeda to step in to say all kinds of hell will break loose but at least to take part in a unity government to have power restored back. >> he was prime minister one minute than with a host of other folks. >> anyone who says that they know they don't know what is transpiring. obama is on the wrong si just as k.t. mcfarland said. and monica is righ the muslim brotherhood has been waiting for a long time. they will not go quietly into the night. it is dangerous situation. nobel prize winner barack obama should be able to handle. lou: remember the top leaders walked to the white house meeting not with the
president the lower ranking officials inclung battery tear it for at least two years. there is a cozy and tight relationship between obama d the muslim brotherhood. lou: tourney to edward snowden, this young man without very many distinguishable -- i have a lot of friends who are high-school dropouts. islanders stand. college dropouts i understand as well but a man who betrayed his his government, people, a country. the manning is a trader. so to get a hold of that
story to make it larger. >> if you really wanted to move forward whistle-blowers' don't go to moscow or china or take the secrets with them. if you are whistleblower don't go to those countries to go to congress we would hail him as a hero but instead he goes to places not just about the intelligence but the way we gather it. that is almost as critical as the intelligence itlf because now all those countries will change the way they do business and irreparable harm. >> you can see the argument hamerit to raise a red flag because programs like this, there is the potential to be abused but however going to these countries were you know china and russia have dreamed him of all secrets that he had and all the in tel you know, he
has done souch damage he can not quantify it maybe will not be able to. >> going third behind these two is difficult. they are exactly right. he should have gone to congress. exactly the most important thing nobody is talking about but the real whistle-blower finding someone in the united states government to blow the whistltle on. there are people there is a lot of peopl, the american people who want to know about these types of things with the government is doing. it is wrong. lou: i will hear from a lot of people that snowden is a trader and i will be inundated with e-mail's but i will tell you people will talk straight about this.
to talk about the charges and the nonsense but people who day in and day out protect the country those wearing the uniform serving our intelligence community, it is tough to use stomach butopefully that will change quickly. up next to big to fail faces new regulations forcing them to double capital. meredith whitney joins us with her analysis. next.
the market in what is going on with the cortex of the market neared its whitney ceo it is good to have you with us. with four straight days of gains in the stockar rising it looks like the whole world there is candy rock mountain stream of u.s. on relative basis is great in the fundamentals are improving. the u.s. economy looks better than anywhere else in the world so weave this enronment with real growth and the inflation hedge because part of the economy is in inflation node part of it is in deflationary. is a safe place to put your money coming on of the bond market into equities so there is reason to believe the market is still cheaper courbet the ones to have the market have a cold -- to
pull back but it isn't. i am not saying that it won't. lou: the markets frustrating a lot of the gurus but a couple of things developing today is the suggestion that perhaps there is devil back of the tax exemption of municipal bonds. >> that has been on the table for a while. i don't know if it has a variance or not that we will see how it turns out. u: and basl iii is not strong enough some would like to raise the debt that 6% to be done with it. >> this is just one more move to make big banks smaller the missing ingredient is the regulators like the bigeat down for
all financial institutions. they have to get smaller that is fine but you have to break the medium ground. so for certain they will continuu to sell assets. they will have to because the profitability isn't there so they have not gained any multiple valuation and i don't know if there will. the regionals it depends. if you are above 50 billion in assets you are still in the penalty box in the future capital absolutely. there is a sweet spot of banks below 50 billion that are really movining affair in the right area but those that we are all familiar with continuing to have problems. lou: want to reference the wall street journal article today i couldn't quite figure out talking about the size of your firm is
downsized, clients have moved away from you but you retained half of them. give us your response. >> they didn't have much of the story because the cture was bigger than the content. i read a private firm privately so there is no way i did not talk to the journalists so there were factual inaccuracies to the peace but at least he spelled my name right. i did not get the point of it i did not get it. lou: we appreciate you joining us. >> his last novel focused on the nsa surveillance taccs tonight he will reveal t next conspiracy to shoc america. hit in order author joins me next.
lou: the brand new book "hidden order" tells of a secretive, a powerful organization cer more powerful than the federal government itself. hitting officials in the middle of th assays snooping scandal brought on by the previous book and edward snowden. the newook rises to number three already on the best seller list on the fifirst the avlability. brad gore joins us now. congratulations. >> glad to be here. lou: it is an exciting idea that what you base your
booker around but this secret organization how did you come up with this? it is very real. >> absolutely. 9/11 happened and my wife and i were stranded on the east coast about to go on vacation. we said we would make the most of it thinking the right thing to do is spend our money at home and put into the economy and we went to jekyllisland off the coast of georgia where this came from. i learned about the founding of the federal reserve. lou: there is. the federal reserve. >> fascinating like the pages torn out of a al-life spy novel. the fact a bunch of powerful bankers got a private real car in the middle of the night over 100 years ago to sneak off to put this together was fantastic but the fact that to prior central banks had been killed that they would make
it look like it was an arm of the federal government they would call a federal and use the word reserve. it is about as federal as federal express and has no reserves. ihought this is great but when the libyan rebels killed gadaffi they said we have to set up a central bank of our own. i said that's is awed by with a focus on the central pink? there's a lot of conspiracy theories but there is some real interesting stuff surrounding the fed and i said i will put into this summer's book. lou: to talk about the blacisted you tol me we'd be talking about theederal reserve as a basis, i would never believe you could do that how long i have been
thrown my career but it has been 12 years? >> yes. i wanted to know more about it to say it is interesting enough? i compete with patterson and clancy and those could writers. i will be as good as my last book. had to be page turner. that ithe litmus test to put the bar very high. the more i dug into the background the more purposeful brick walls i get and i said i can do this. lou: and it is a delight. "hidden order" brad thor the author on site -- on sale box tears new you go to lou dobbs.com. great to see you. i know that lew lehr mid
ll be among those. thank you so much. we will talk immration ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then i betteuse the capital one purchaseraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge, like my flight with a few taps, it's taken care of. imprsive baldwin. does it work for hotels? absolutely thank goodness. mrs. villain and i e planning o... you scare me. and i like it. let's go what's in your wallet?
including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your screen. >> the irs starting tea party years. the union said targeting virus bonuses trying to make sure that employees started the scandal are not stopped from collecting their bonuses. welcome, everyone. the acting head of the irs wants to block workers fm collecting an extra $70 million. but union represeing them says that it would vlate their contract. tea partier study mill is furious about these melissa frances is here as well. sounds fair. >> first of all, we have a union within our own governmt. does that -- that seems really weir they're having to hire people to protect themselves from
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