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tv   Cavuto  FOX Business  July 28, 2013 6:00pm-7:01pm EDT

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♪ >> less about an economic reboot and more about putting the boots to republicans. >> sincerely they have a fuentally different vision for america, one that says inequality is both inevitable and just, one that says an unfettered free market without any restraints inevitably produces the best outcome regardless of the pain and uncertainty it holds on ordinary families. i say to these members of congress, i am laying them ideas, but now it is time for you to lay out your ideas. >> can't just be ainst something. we have to be for something. charles: welcome them everybody.
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i'm charles payne in for neil cavuto. all we we have been during the president's talk about the econy. instead of saying he wan to work with republicans, he has been blaming and attacking republicans saying that they are the ones holding a middle-class town. melissa frances on if the president is looking for the economy to pick up ford is looking to pick a fight. >> she says you cannot be against something, you have to be for something. how about being for the keystone xl pipele costs. the talks about the economy and politicians. why don't we get behind some projects that could actually create jobs. keystone could create 20,000 jobs out of the gate. that is conservative. some people think it is 40,000. half aillion barrels of oil per day would wipe out our need to bring in venezuela and south american o. this is something that could create jobs and lower prices for americans. get behind that. charles: cell is feels to me as if you are now for my ideas yr have any. it is weird.
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>> his ideas are contradicting. on the one hand he gives us a obamare which cares the heck of the small businessmen in the nation degrees 80 percent of the jobs. then he comes back and now he has a jobs plan, but to the public employees to work and to put the trade unions to work. that is not necessarily creating jobs in the middle-class. that is not. in fact, building the private sector. as a we are all about. the private secttr. why are we buiing that? charles: the idea o building, i think, alsopplies to politics. wn in d.c., the idea of building consensus, building something where both parties can agree. visit the president has consistently on the attack on the attack on the attack. >>ell, let's put a little finer point on what you guys are talking about. the president does not really say that his opponents have no ideas. he says that his opponents are cynical, political and motivated and this patriotic.
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wanto do things, he says, that are actively harmful to americans as part of an effort to defeat the president politically. so why don't we have consensus? why don't we have agreement? when you start a discussion impugning the worst, most tanis modems on your opponent how likely is it the you're going to have any substantive discussion? you are not a patriot, but let's talk about the budge that doesn't happen. charles: you ran for office as republican. how does that make you feel? you inherently as a republican don't like this country. you make poor people. you make the middle-class. only like 01 percent of people at the top. >> that's not me. >> he is saying that is the entire party. >> well, that is very poor definition of the republicans. yes, took us off in a world of 1%. they took us down that road. the majority of republicans did not want to play that kind of ball.
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because when you are in the private sector, when you have a day job and you learn the responsibility of not trying to find an excuse and to lay the blame on somebody else, when you learn that you are responsible and that you bring all of your elements of your personality and your ability to bear in order to get by in the private sector, then you can enter public -- charles:hat is a word, responsible. people talk about redistribution of wealth. i'll is in the president's policies is a redistribution of responsibility. and his speech this week was sort of an attack on capitalism a celtic is you cannot control outcomes. if you are down the hall you would probably be me. >> i don't know abouthat. chles: what i think is so frustratg about the speeches that it was about politics and economics. it was supposed to be about the
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economy. bright new ideas on how we would have more jobs. if you want to have more jobs, get out of the way of shale and fracking. that is a wy tt make energy cheaper and put those jobs on parity, make the labor equation -as sensbecausthe energy is cheaper. we can bring some of those jobs back. i talked to see as you do not have trained americans here in the u.s. it would like to partner with local schools and colleges ineased the training in need to read what do we promote that, give them tax incentives. there are a thousand ideas out there to create job why are we talking about politics? >> maybe that is justid. when i heard this week was st of a greatest hits, if you will, snippetsrom of thepeeches we have heard before. the president could have do this, that the teleprompter as. amass show. right. the idea of was this really an economic speech, political speech looking to the midterm
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elections? what do you think his real goal was? >> nighter. what it really was, in washington we talk about the outside in game. has been place successfully by presidents of the past. ronald reagan, bill clinton, and george w. bush. when you go to the public. charles, have an idea. congress is blocking me. i want to do this or that. come with me and help me on stock this out of congress. the president claims that is what he was doing. j kearney and others said he will go talk to the american @%ople to rally them. what he was really doing was playing the inside out game. he went to other places to turn around and pick a bubble are and say reporters, shame on you. don't cover for the scandals. republicans, shame on you. you people in america and poor people. he went to other places to talk to washington. it was not about economics or
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manufacting. is what thinks washington ought to be focused on. >> the follow through those promises. charles: you just made reference. it seems to me that the president feels it can drive a wedge into the republican party. friction between the tea party, the rhinos, the old school guys. i have noticed more and more. is it possible that he can do that? >> you will get away with saying it. charles: and republican has an epiphany. >> the republicans had a nervous breakdown they are in disarray. they have to start to learn who they are. they have to enge other constituencies. there is no question about that. and obama will take a advantage of that because that is a way that they think. everything is political. how about doing the right thing for the american people. expanding on our shale and our
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oil. how about creating more jobs by puttingp some tariffs against chinese. charles: for one just look forward to the speech for we talk about how great we are, for we have come and how we will go. thanks a lot. you're fantastic. tax reform sending a lot like tax hikes. the latest democratic bush to push taxes went up. first, snooping from this guy and going to your e-mail. my name is mike and i quit smoking. chantix... it's a non-nicotine pill. i didn't want nicotine to give up nicotine. [ male announcer ] along with support, chantix (vareniclineis proven to help people quit smoking.
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so why do banks do it? hello? hello?! if your bank doesn't t you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. charles: theresident is not calling it anything. the administration really does not have to determine whether the mess in egypt is a government takeover or not. we will just keep sending that country over a billion dollars in aid but. we need to cut the funding. congressman, and i think we have to label something, and this seems pretty oious that there was an overthrow the democratically elected governments. >> i think you're right. that is pretty obvious. if we have a proper size government, one living within
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the law on following the nstitution this argument to be irrelevant. it wou be much easier to say that no one should have any foreign aid and we should not condition it. well, we will send the money which we have been doing for 30 someears and billions and billions of dollars. this discussion about was it or wasn't it, we're missing the point. we should quit funding these nations and trying to pick the good guys versus the bad guys because it always seems to en up badly and we are always switching sides. we put the bar ain and dry mouth and get anoth election and then helped fro-- throw him out. i would say this argument, quit giving the money away. charles: i have to say, it feels like there is no gratitude. the more money america gives the country seems like a more animosity that have. >> you cannot buy. besides, we d't have money. we have to borrow it from
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somebody or printed. it contributes, you know. but it is a bit arrogant for the president to do what he is doing. we don't have the system that i would like. there are rules that he is supposed to follow. under the rules he is supposed to cut off aid. the solution is not going to be, if they do exactly as we what we would give you money. so oft ourooeign policy has been that way. i would like to see some day that we have a different foreign policy. charles: a large following. yo just touched on something that the president. a sort of sense of arrogance with respect to rules that have been in place. this week we know that holder says she will go after taxes and they're voting system despite the supreme court ruling. we are seeing a tremendous amount of arrogance. whether it is an essay, irs. what is going on? is this something that ways
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happens? >> well, it has been happening fo a long time. youould add to your list, ideas that the president announced today tha he would not go to the congress. congress works too slowly and he will do the funding of all the necessary projects. it is lawlessness. first these programs are unconstitutional. at least they are supposed to pay a little attention to the congress. these executive orders are out of control. i would say it is not unique for this president. believe me. it is worse than ever before and continues to get worse. it is up to the people and the congress to rein is sen. they could if they wanted to, but theee is not enough backbar up their terrain in the presidential powers. charles: why would republicans allow this to happen. almighty, they will have that kind of power. why else would they laid out for
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this? >> it is inbred in ourystem. there is complacency. for a long time peopleid not complain too much because there was enough money to go aroun. liberals got what they wanted, conservatives got their money to pass out around the world. now they realize were on the verge of bankruptcy. people still trust us. they know it's coming to an end. this is why people are becoming more partisan. it is a mess. the egg knowlge man and the allowing of our presidents to a use these powers and act on their rounds. it has been around for a long time. charles: absolutely amazing. somebody better draw a linin th sand. d.c. might stir up trouble or there, but it is not afraid to snoop on people here.
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new reports, demanding big tech companies handover your passwords. on the same day we are learning that the fbi has been using drone sun u.s. soil. former white house cyber is our, of fine line between snooping and security. what is that? >> i think that is one of the things in the post's september 11th or other we have to figure out. a problem as we hear all the time that what we're doing is legal, authorized under law. just because its authorized mber one the public does not understand or is goingn. just as importantly it does not mean we should do it. that is the thing that we need to start looking at. figure out what we need in the new world of digital economy and then say how do we protect privacy, civil liberties, was a protecting the nation. arles: you talked about the public not being necessarily educated. it seems like congress, washington, has no clue what is
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going on. every time seone testifies it seems like it is a new revelation. are these programs, have they become so powerful that just one person can operate them without accountability to anybody else? >> and i don't think they are that compressed, but there has been a very select member of congress that have heard about these programs for years and know exactly of the work. what happens is wee see the rest of the congress becomingore cognizant of our is being done, where is being done and what powers and the tories are being used. that is not what we voted for. to make it even more complicated we talk about this country. all the other nations in the wod that don't have the same privacy controls and protections that we have. see what goes on wit the rest of the world because e-mails, pawords, everything you talk about, they are univers, all arnd the wor, not jus your. charles: i have to tell you, i have equated this to a digital
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form of stop and frisk everybody in america as a suspect. this is how we are being treated as citizens. all suspected of a crime and actively being invvstigated. >> that's correct. that's o of the things the center for docracy and electronic -- they are saying the same thing. wait a minute. in the digital world wishes to look at things like the fourth amendment, the first amendment, freedom of speech. not automatically figure somebody to sit through everything and see if we confine something wrong with it. charles: this is the big question. is it too big, too powerful, can stop? have we crossed a rubicon? >> i don'think we have. i know from a public perspective we have not done it. we have not agreed to do it. it is important that we have this discussion, not only in congress but on shows like yours to sayait a minute. what exactly is being done, how is it being done and to is it
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being done to. there is another nexus. you look at the economic peace. much of the digital technology evolves around the united states. i was in europe a couple of wes ago. th europeans are saying wait a minute. why do business with a u.s. company if we're going to have to worry about data orrivacy. we willtart shifting business to europe and other markets which then affects us notnly from privacy perspective but also a business and economic perspective. charles: i have t tell you, economicfor it to the morality. a whole lot of things. let's not forget the constitution. thanks a lot. we appreciate it. you know, i have been getting a lot of amazingeactions to my special last night. a lot of your people seem excited to invest. today fewer of them are actually investing in our education. find out why more are getting out of college [ male announcer ] here's a word you shld keep in mind. unbiased. some brokerage firms are. but way too many aren't. why? because selling their funds makes them more money.
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charles: this is what happens when you keep sticking it to students. students ticket back. by not sticking around a new report showing college enrollment fell 2%. high tuition is a major factor. tuition will keep rising as long as the government's keep writing cheap loans. this will be a good one. all right. this is all about money. >> well you know what, first of want to give kudos to mets daniels, preside of purdue university, former governor of my home state. he froze tuiti for two years. everyone should follow through. we want to give reasonable loans. they should be reasonable. so the university's need to tighten their belts.
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charles: that is a good point. these universities, billion dollar endowment. gigantic campuses. professor sticking a year or two off to read a book. what is this all about? in theeantime they have more and more money. >> believe it or not if you look at the actual statistics, there is more supply and demand then government. you have of real glut of 3-20- year old people coming in. they were applying to go to college which means more demand, prices go up. let me finish. after 2009 we started to see a decline. so there may b mor said this in terms of -- zero the facts. here are the real important facts. the administrators are outnumbeng faculty babout --
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the reason why costs are going up for colleges across the countrynd gouging the middle class families because these afghan academics think their hotel moguls, rl-estate moguls, academics, acting like donald trump mamies and letting the hotels of business. that is the business model. they have seven figure salaries. you know what i say? these colleges are nonprofits. they are not supposed to be acting in their own private interment. demeans you curtail their salary. they should be backing exploding steadman that. they should be guaranteeing it and then you bring that number down. >> you blame government. >> i am. >> were talking tuition outpacing inflation by 600. something average is. >> and al is going to come down. charles: famous last words. how will that come down.
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the federal government taking of the sdent loan business. they pushed everyone out. and then they churn out loans. a look at the numbers of the month. >> we know the federal government mess up everything. is this to be taking over. they cannot handle this. it's bad. the problem is they are not reasonable. something reasonable. a year -- solyndra, all the waste. now there is no money left. [inaudible conversations] cash for clunkers. that is what it was. th's how we work into it. here's the problem. student loan debt has tripled. that is a serious problem. it is ranked low. for the first time in the history of the country student -- students are entering colleges. they are exiting colleges in a really rotten job market. the gh-school education and
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engineering. >> way to hide. charles: so many students to take these gigantic lines and don't even get a degree. you want to talk about getting out, what about the degree at all and you are still saddled with debt. there is also an implication that the president laid out pretty thick. take the loan. >> we might watch different eltions. i didn't quite pick that up. here is the reality. you are absolutely right about the amount of debt. it is pretty grim. >> he also hit the american taxpayer. >> you have to come up with another way because if you take that away we are going to end up with only wealthy people going to college. >> they don't have a problem going to school. is the middle-class.
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and exactly right. the administrative cost. they're looking like fat cats. that may bartending school. at's not my business. >> uimately we are in some sort of agreement. colleges out of control. no accountability. no one ever says anything bad about them. the federal government is enabling them. >> you're absolutely right. the white house did talk about thr is a chance he could forgive the debt. that was but a couple of years ago. charles: that was floated this week. >> that's right the backlash agait colleges. you saw in rhode island, starting to charge for fire department and, service. if the colleges don't get a clue and fix their financial models and stop gouging the american people then they will see it at the local level. charles: we have to leave it there.
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talking about your favorite topic. taxes just went up again. that's not stopping the government from time to take a bigger
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charles: california now says it is looking to tap taxpayers for more money forcinprivate companies to take 3 percent of workers' pay that they will invest it
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until they retire. ying that this would be a disaster is great to have you on the sh but this is california. of course, it is a disaster be like this stuff. >> i don'tnderstand it is like a time bomb ready to explode and the politicians are acts it again all ewers nationwide need to be as worried as we are about what is ready to happen. now weave a competitor to social security run b california, a bureaucrat these are th politicns who cannot keep debt at of the way constantly raiding one fund after another it is fantasy economics. charles: would you say to those of the lower end of
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the economic ground? they may need help it is the responsibility of government? >> allowing the employee to have the option t invested in conservate stocks or whenever they want their force is the emplee to be able to pay many give them one or 2% from a ridiculous low amount. they cannot keepp with inflation. instead of trying to grow the economy, you have people fleeing california. we hava situation inead of creating the opportunity state but one where i understand except california
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is $127 billion in debt. $3 million per individual. the politicians are retirement fund, a $60 billion in debt and they believe they will manage the billions of dollars rked t. this is showing the unions are behind this to rescue the debt. charles: so this is a schemm to kill for this money? under the guise of low investment like a ponzi scheme? >> you got it. lough hall on the surface it is the expansion of the ministates' brother but it is much more than that. the winners are the politicians and bureaucrats
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in calpers but the losers are employees and employers and individual freedom. charles: it is preliminary and a trial balloon but this will be the latest in greatest of california's. >> and it will be the model natiwide to say look we have this program that will force the employees in what will hapn is there wl be competitors of social security in all progressive states. charles: my ponzi scme is better the in your ears. they say i will take money from you don't worry will get back asif they can't guarane anything with their track record. you guys e in trouble but we all are. i appreciateour time. believebetter not this
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could be yoko ono singing she sells life she is in pain.
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charles: '03 and clause is way to the top and washington cuts down big oil and we have jonathan hoenig. too much confidence b amazon could be warnings about something else lose the seventh in the last quarter this man not be much better you have beencalled the of wolverine of economics. is this bad news for the
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consumer? >>. [laughter] bad news? charles: good or bad? >> it is good for the stock not too far from the all-time high but they are not resting on their laurels it is the dominant retailerr3 they are reinventing themselves with tom want -- hardware and dominance in the cloud that is why you see the ock do so well. charles: what about the consumer? >> it is important to look at the big retailers chasubles point but wal-mart is the vastly better predictor of an amazon. amazon is a very select mix and very difficult -- diffent. they make the amazon kendall and sell stuff they use that
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amazon kindle to shop on amazon there is so many directions a mess usher aso their sales growth is really strong but not so much on the earnings. charles: and the family dollar, the ar stores is that a red flag? >> because they are not thinki that the consumer will trade down? charles: that is not a great sign of confidence. >> it is time to stop worrying overall and tigers are spending. >> target, a wal-mart, they have been strong in consumer confidence is the markets of the all-time high not surprising is doing better moving forward. charles: people are not borrowing but whenever they had they spenteteran of that is good or bad for the future.
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with tracking looking to regula fracking will the war on oil ever stop? now going after halliburton. >> whether oil or natural gas that supports fracking it is a tremendous benefit to the consumers at large. just in the last few years th innovations of fracking have brought prices down 67% that is a huge benefit when the consumers are just trying to make money t feed their families. >> why is a justice department investigating fracking? antitrust plunging prices of gas lead into the investigation what really bothers me in the wake of the irs targeting scandal
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going after opponents of president oba i don't trust other arms of the obama administration not to seek opponents base of the political agenda we know this industryhould hates fracking and is against it now the justice department is investigating? charles: they have to be very careful because fracking has been the economic godsend. if they mess around with that thenly reason we're not an a recessio if you take that away we're in a deep recession. >> it is energy production in general. there is so many energy resources available to power this country for word. smith is not the earth that we battle but the regulators that what to make it as difficult as possible. charles: there will not be any manufacturing renaissance about cheap fuel if you control that you control the world.
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x box says my man is expected to hit the slop -- breathe slump. >> we have had some huge successeand huge flops in hollywood feels they're coming in to the rescue it cost $120 million to make but lone ranger white house down, pacific rim chlorite pd they costabile seven digit million dollars to make in the u.s. gross is under 300 million. charles: but you put your money on cue jackman? >> y. charles: really action figu you still see. >> i thought trading stocks wes is dangerous but in the movie business it is far more dangerous when it to $2million?
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but i think it will do well he has a broad peal if the old folks remember from their childhood plus the new consumer there's a lot of competition out there for movie dollars i think wolverine will have a great openinweekend. charles: a lot of people say the blockbuster model is dead. >> we always think the way of business will be innt >> but at the end of the day don't they want to make profits? >> 1.2 billion dollars. three words. "in man" three. [laughter] charles: health care looking so bad those who are working on law are trying to avoid to be covered by the same law. when we made our commitment to the gulf, bp had two b big goa:
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>> family doctors bowling about driving prices up new study says they could go up as much as20 percent that is the latest bad news for the health care law. thank you for joining the show. i am shocked at some of the numbers this is big a lot of physicians are selling out. >> it is predictive of the two-thirds of the 1 million doctors of 2014 will be salaried working for a health care system so they cannot affordto be in a solo practice so the
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ructure from the affordable care act is to the gene for repayment so they are starting up and doctors have to join them. >> of course, the ada you will stick with your doctor will change radically and lower prices because economics 101 of last competition there is the higher the prices go. >> theoretically that is to the hell scared ner fit into that supply-side economics. it will be precarious i am anxious to see what will happen because there will be penalties if the quality goes down and with the accountable care like a decapitated payment if they usit up then that is the end.
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they could be shooting themselves in the flood we will see how that works out. charles: that is the risk they're wiing to take because the alternative would be worse. >> there will not be all lots of fee-for-service it is changing the way reimbursement is and solo practitioners are not making it any more. reimbursement fees coming down and they cannot afford malpractice and running the office. and these accountable care organizations is what it is promoting so you have to a part of it. in order to get reimbursed. charles: what people are concerned about is there is a big difference between access to quality health care.
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it sounds like there is already the numbers probm it will be worse if we can imagine. >> that is a good point. just because you have health insurance doesn't mean if yohave access to care. wh we find in massachusetts once the bet was covered there were not enou primary-care doctors that is the problem the affordable care act does noo address there is a predicted shortage of wood pigeon thousand doctors by 2020 on this we get more primary-care doctors involved it doesn' maer if you have insurance if you caot find a doctor to take care of p.o. -- -- take care of you. charles: with the beginng of our political ideology there should be pushed back
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and rethought? >> it is already starting to go in motion with insurance companies are already planning the pructs people geing insurance they are being told so it is probably too late to turn back but there was a former patient to did not get insurance and then had elvis ising coul't get insured but for it to work we need a pool of healthy individuals to buy insurance if you only pay the $95 penalty in on jittery first the law that says it doesn't matter if it doesn't make said they did not off see a person paying $400 just in case they might as whale pay the $95 palty once and just wait. charles: that is pure logic and we know that will happen in. we don't know how bad but
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there wil be some ugly moments without a doubt. we appreciated. senator harry reid strikes again telling the republicans there will be no reform until he gets $1 trillion of tax hikes [ male announcer ] this is the age of knowing what you're made o why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not takviagra if you take nitrates for chest pai it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away, if you experience a sudden decase or loss in vision hearing. this is the age of taking action. viagra. talk to your doctor. this is the age of taking action. replaced people with a machine.r, what?
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charles: what do tax hikes have to do with tax reform? everything that majority leader says he wants $1 trillion of new revenue as a starting point on the day when the rich was told to pay up telling a crowd in brazil have to bridge a gap of that have-nots. now we have the latest with the war on the rich. >> 18 carry reid shld resign. [applause] >> ilove how americans are
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castigated when the government has blown the $1 trillion they have been hitting the middle class very heart they're the worst administration to oversee economic growth in the great depression. we a servi sector jobs at minimum wage. to thank you could take $1 trillion more out of people's pocket that is not the way to go. charles: but the pope tt he wants to go through the worst neighborhoods of brazil he was adamant about wealth. wh do you make about that message? >> ibm not a catholic but i lo this guy. >> may interrupt? >> give me $50 right now.
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>>'' was i saying? >> i love this pope but catholic businesspeopl who made the big fuss about contraception and obamacare how will they deal with this issue have they paid their own workers? charles: the fact that i am a business owner should put me in a better spot buto talk about the super wealthy that is the position but the fact of the matte is i'm glad we're talking about this because this was debatedllear last year what is ch but those to create opportunities for themselves. >> i don't think anyone you are rich and i am for so give the the many. that is not right.
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that is nothe way that it should be they create the jobs and businesses that it is how they do not just hand over money that doesn't help anybody. >> as a practicing catholic i want to tell the pope listen american taxpayers are paying between 60 or pernt of the federal tax revenu with the most aggressive income tax system this is not about spending wealth but creating wealth you do not do that by taxing >> we have a crisis of selfishness and individualism's year and have to be wealthy to be selfish i think someone sucking up government benefits all day long that is another forum. >> i don't disagree for one second. >> but selfishness is when
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you look at people working in the same company earning five or 600 percent more and no trouble with the fact that person cannot supply a his family with food and have to go on medicaid. that is what he is talking about. >> those people should be paid well. >> they leteople work in this business? >>hat is capitalism. >> he is trying t unite this warehouse are some of the most divisive politicians even reagan and clinn reached across the aasle to get bipartisan agreement it is striking this president nobel peace
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prize winner is the most divisive president in recent history. charles: i think both of you are in the same position they have to recruit more followers and in brazil and 90 percent of e people used to be catholic now is as 67 so you need a hard meage but in america what is the president trying to accomplish? it feels like he is ripping us apart. apparently he could recruit enough dollars to still be president. you want to throw that out the window for some reason. >> he talks about washington as if it is separate from m. were you talking about? >> those guys sitting in the house of representatives not letting him do his thing. >> every second term president has to deal with dave opposite majority.
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>> aience stayeyou for your support it has been a fun two weeks a lot of peoplealled and he mailed ♪ >> tom: trying the same thing er and over a the same lousy results. why is the president once again going around the country proposing the same exact ideas about the economy he has proposed over andver the last five years? we're talking w are there why are there nauo new ideas right here, right now. >> tom: thanks for joining us. here at the top of the stack. yes, the economy has been growing but at such a stagnant pace most surveys show people are discouraged about jobs, economy the direction the country is headg. so why is the preident


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