tv Lou Dobbs Tonight FOX Business September 6, 2013 7:00pm-8:01pm EDT
willis report." thank you for joining us. don't forget to record the show if you cannot catch us live. have a great night and we will see you monday. ♪ ♪ lou: good evening, everybody. thank you for being with us. tonight president obama is on his way home from my that g20 summit meeting in st. petersburg he is returning as a defeated leader who could not win any further support for attacks on syria at the summit. as you see here, mr. obama's face could not hide that dejection, the disappointment. his is truly the face of defeat. he looks thoroughly shocked, to his core, that the leaders of veggie 20 nations resisted his reasoning and rejected at right is called for there participation in strikes against syria.
the president's lost appeal to the leaders gathered in st. petersburg is the stuff of history. but much of the story is told in the contrast between two leaders. russian president putin is animated and expansive in his concluding remarks, and the president's innovative stammering efforts to rationalize and express his disappointment and his loss on syria. but putin had already closed the deal and prevailed the victor, and the victor and the defeated, the winner and the loser, the contrast overwhelming. we will be taking up these issues here tonight with armed services and judiciary committee member congressman randy forbes. the virginia republican says he has no intention of voting to authorize the use of force against syria. we will discuss his reasons of the likely vote in congress. best-selling author and syndicated columnist ann coulter also joins me.
she says mitt romney might not have been right about much, but he was dead on in regard to russia. we will hear her thoughts and why the republican leaders in the house seem to be trying to save president obama from himself. all of that in moments. moody's chief economist joins us. he is unimpressed with the employment rate decline. we will find out why. we begin now with defeat and rejection in st. petersburg. president obama, as i said it and as you have seen, looking defeated, dispirited, and at times distracted while making closing remarks at the summit. take a listen. >> over 4-1400 people were gassed. over 400 of them were children. this is not something we've fabricated. this is not something that we
are looking for using as an excuse for military action. as i said last night, i was elected to end wars, not start them. i have spent the last four and a half years doing everything i can tear reduce our reliance on military power. what i also know is that there are times where we have to make hard choices if we are going to stand up for the things that we care about, and i believe that this is one of those times. lou: in contrast, russian president putin, as i said, he was animated, he was strong, and persuasive in his comments as he explained why he will not allow russia to go along with an american attack against syria. >> the president of south africa . said a very important thing with respect to syria, with respect
to the world order. he said that small countries and that global world, today's world are feeling increasingly vulnerable, increasingly not protected, and there is an impression that any superpower can apply force to them. this is they're impression. this is how they feel. and he is right. lou: and, of course, there is only one superpower. those are strong words, and now president obama has added to his already considerable burdens by having to find a way to put a much better face on all that he has lost this week in st. petersburg and on capitol hill. he begins next tuesday when he pull it -- delivers what may be a too little too late address to the american people on why he insists on attacking syria. the president still insists that any so-called limited and proportional campaign in syria would include no boots on the ground, but a senior pet to
unofficial tells fox news and -- military planners are preparing for any tactical situation, revising battle plans up to 50 times for the commander in chief . fox news national security correspondent jennifer griffin has the report. >> following reports that the administration is considering a larger military campaign than originally planned, today fox news spoke to the head of the supreme military council of the syrian opposition who are urged to the u.s. to hit hard, if it's at all. >> we think that if there would be a strike it will harm. very proud strike against the assad regime and the unit of the regime and the hezbollah unit. >> sources tell fox that pentagon planners have been asked to revise the plans for the strike more than 50 times as the assad regime continues to move its assets.
the president pushed back on the idea the military mission itself is expanding. >> that report is inaccurate. i believe that when you have a limited proportional strike like this, not putting it on the ground, not some long drawn-out affair. not without any risks, but with manageable risks. we should be willing to bear the responsibility. >> u.s. defense officials say the only reason to have air strikes to a naval mission by deploying stealth b-2 bombers from bases in missouri or other air assets would be to go after mobile missile launchers, the chemical weapon delivery system of assad switch has been on the moves as the u.s. telegraphed it was planning a strike. >> they are moving resources are round and in some cases placing prisoners and others in places that they believe we might target. at this point our intelligence is keeping up with that movement >> but if congress gives the president permission for a strike military analysts and
members of congress are asking, then what? >> what if we execute this strike and then he decides to use chemical weapons again. do we strike the end? well, that is the definition of further entanglement. that is the definition of our becoming deeply involved in a war. >> and now reports from russia suggest there are three russian naval vessels moving toward syria and a force coming from the black sea. the kremlin says the ships are being sent to potentially evacuate russian citizens from syria. the pentagon is not overly concerned, but they are watching lou: thank you. a first guest tonight finds it extremely troubling that president obama is again seeking to use military power while he has accepted nearly a trillion dollars in cuts from our national defense budget of the past four years. joining us now, congressman randy forbes, a member of the house armed services committee which has a hearing scheduled tuesday with secretary of state
kerry, also a member of the judiciary committee. let me begin by saying it's good to have you with us. thank you for being here. the president said he was elected to end wars, not certain what is your reaction to that specific comment and why he made? >> well, i cannot tell you why he made. one thing i can tell you is his big struggle right now is, the president does not have and has not had a consistent and coherent foreign policy. now he does not have the credibility internationally or domestically to be able to articulate what his military objective is. as you mentioned, this is a president that has used the military for a surge in afghanistan, this point it to the pacific area also in libya. now he wants to use it in syria. he is systematically dismantling the military since day one when he went into office. that is what is coming back to haunt him right now.
lou: not alone. the speaker of the house of representatives, the majority leader support the president. at the same time, they participated in the reduction of the budget. they have not stood up. the republican party has not stood up for those budgets that have been cut. many say any draconian fashion. what is going on with the congress and the opposition party that seems to be renewing no critical judgment against what is already now acknowledged by most military experts to be something of a superficial if not entirely frivolous idea of limited proportional strikes to support what does president now cause of world red line as he disavowals seven times his administration using that very language. >> well, i think you're going to find it regardless of where the speaker is in the majority leader, from the conversations i
have had, i think it's overwhelmingly going to be that our party votes against this resolution. a will be very surprised if it passes because as you noted that some of your guests have, there is no such thing as a 48 or more. once you have an act of war, once you watch these activities, there is no one that can guarantee this will only be 48 hours. the president has an obligation to state the objectives, the military strategy, the exit plan. he has not done that i don't think you'll be able to. lou: to senate democrats, they, as you know, have begun circulating an alternative resolution on military intervention just after getting that resolution to the floor of the senate by calling for the limited proportional strike that would give them, the assad regime 45 days. it's an ultimatum, another ultimatum from the democratic
party, from these folks who to avoid a strike if they would just sign on to a chemical weapons ban. is there a point at which this government of ours reaches the level of force? >> i think we have already reached that. somebody told me that if we don't do this strike it is going to make the united states look weak, but when we look weakest because we have cut $487 billion then another hundred billion out of defense. the president's proposal for sequestration which you know went through. he signed into law. nothing has been done to change it. people are missile defense systems out of europe because the russians ask tim perry to try to cut out seven of our cruisers. there would have had twice the admissibility of the entire british navy. what to reduce air carriers. he has an airplane is sitting on the runways. our pilots have not even been able to file a tough fight them because we don't have fuel for training and now we want to launch an attack in syria.
it just is not make sense. lou: what is the likelihood if that vote does come in the house of representatives? >> based upon everything i have heard with all the conversations i have had with members of the armed services committee and members across congress, i think this is going to be an alarming objection to the president using force. and then i think it's going to be up to what the president does, whether he ignores the vote or honors it, but i am going to be very surprised if this passes next week. lou: thank you very much, congressman. good to have you with this. much more on the the president's push for military strikes against syria throughout tonight's broadcast. we continue in one moment. stay with us. the stock market initially liked the idea that president obama was not having his way in st. petersburg. then they heard from president putin. moody's chief economist puts it
♪ lou: on wall street stocks finished flat. a volatile session, wild session. the dow falling. the s&p up a fraction. the nasdaq gaining a point. it disappointing jobs report that showed 169,000 jobs were created last month, while the unemployment rate doubled. now, that is, on its face, very good news. the other department, however, revised jobs numbers for june and july, revised them sharply lower. a combined 74,000 fewer jobs than previously reported. additionally the number who have a job or are looking for work
fell to 63 percent. the labor force participation rate is now the lowest in 35 years. joining us with his outlook on jobs and the economy, chief economist for moody's capital markets. john, this market is something to watch. i mean, you have people who are all just a tether over the federal reserve and tapering. then they get the jobs report like this and act like it is the end of the world. this is more than a wall of worry we're looking at. >> exactly. the credit market, they have to wake up and realize that quantitative easing was not meant to last forever. it is high time the credit market recognized the lackluster nature of this economic recovery that was made evident with this latest jobs report and accept the fact that you don't have to have that support to keep the 10-year treasury yield well
under 3%. it makes no sense having the yield above 3% given that job creation has slowed so dramatically. lou: today the yield fell coming off of roughly 3%. i mean, we are sitting here talking about six basis points like it is a change in the direction of the rotation of planets. i mean, we are at a crazy spot right now the way both the business class, in particular, and the market and the streets are beating, are we not? >> yes, we are. the reality is that earnings are growing. but they are doing so at a very slow pace. one of the reasons why so few jobs are being created is that since march of 2012 profits have grown by only three and a half percent for the s&p 500, only 1 percent if we take out the financial companies. little wonder.
lou: we don't want to do that. >> two is going to hire people with this type of earnings growth. if there will be any support for the equity market in financial markets in general it has to come in the form of well below average interest rates. lou: out of we get it? >> the upside is really quite limited. lou: i talked with a number of people as you know throughout the week. most of the king for something approaching 4 percent right now. honestly. and the fact is, it is not clear the path to lower yields right now, that is on the 10-year below 3%. >> well, these people don't know about the commandments of the financial markets. one of the commandments is now shall not divorce the 10-year treasury yield from the 30-year mortgage yield. if you're talking about a 4% 10-year treasury yield, you're telling me the mortgage yield will shoot up to nearly 6%. believe me.
housing is encountering problems right now. lou: i don't know who is pushing a few, but that is the concern. more a concern and a fear that the forecast. they make it implicitly clear. they think is the outcome. what is the fed going to do and how is it going to do preventing, as it stands to rescinding behavior on bond purchases and maintain a lower yield. >> the fed will make it clear to the financial markets that they cannot buy treasury bonds forever. they're probably going to announce a tapering of quantitative easing at the september 18 fomc meeting. we will start off in a gradual manner. by the summer of 2014 quantitative easing will be finished. lou: we watched the market today. putin said that he would actually assist syria and
president obama goes ahead and the tax. the market, after listening and watching the face of president obama today saw a president who had been defeated in that objective, rejected by the jeep 20 nations, and the market moved up. 140. then they saw putin say, you mess with syria and you are messing with russia. what people think, you just simply bomb someone like syria and there is not a reaction? from whomever it may be. is this administration -- and and getting to the point here slowly and meandering a bit, but the point is in the context of all of this we have an administration who want to be scaring the dickens out of this market because apparently they don't think about retaliation if they bomb. >> a lot of confusion. lou: the market does not like it. >> the price of crude oil, $110 per barrel.
markets are going to move lower in a very frightening fashion. that is something you want to pay attention to. this is one of the costs of involvement. lou: and your outlook for the rest of the year if we can control both this administration and defense? >> this will remain that the best economic recovery since the second world war. in all likelihood they will be lucky it -- if the equity market moves sideways. perhaps were will be lucky in the sense that we may make real progress of lowering the unemployment rate. he will lower the unemployment rate not because more people -- lou: actually create jobs. i will pray for everybody. this country, our destiny depends upon it. thank you for being here. breaking news. the committee on foreign investment just announced a decision.
the committee and foreign investment in the united states refused the security risks of foreign acquisitions of american assets. it has now approved the almost $5 billion purchase of smithfield foods by the chinese company. it is the last major hurdle in what is expected to be the biggest purchase of a u.s. company ever by a chinese firm. critics have warned that the deal does threaten the safety of the u.s. food supply, citing the poor performance of chinese meat producers and perhaps conflicting geopolitical goals. but they have spoken. up next, president obama having yet another rough week. his favorite republican has not had such a her rosy week himself. john mccain. we will tell you all about it tonight. stay with us. we're coming right back. orville and wilbur... ...amelia... neil and buzz:
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proving himself worthy of our dunce cap award on more than one occasion this week. we are going to oblige him with an appropriate number. first, his comment on a phoenix radio station. >> no one wants american boots on the ground, nor will there be american bids on the ground because there would be an impeachment of the president if they did that. an impeachment of the president if they did that. lou: are you kidding me? impeachment? mccain himself approve a resolution in committee this week that leaves the door open for president obama to put points on the ground in syria. it puts on the ground get the president in beast, what does it get senator mccain? i recall? one thing is for sure, he gets our doubts can award for the construction, the very idea of it all. next up we have the senators does not -- dismal performance
yesterday and a town hall meeting. take a listen to what some of mccain's constituents had to say. >> why are we not taking care of our own people? 85% of u.s. citizens do not want this third war. >> i cannot fix their home. you cannot come into my house and fix my home unless i fix it myself. how can america go into someone else's home to fix it? [applause] >> we cannot afford to turn syria into another afghanistan. i beg you. >> this is what i think of congress. they are a bunch of marshmallows that is what they are. that is what they have become. why are you not listening to the people and staying out of syria? lou: senator, one out? we are not only listening -- not listening to your constituents, but acting arrogantly and smog as if there were inconveniencing you.
senator, you win another one. there it is. these tents caps, i mean, senator mccain was just -- he was out this week. he will get another one, this one for supporting every position the obama administration takes. he supported the president's call for extending background checks on gun purchases. this guy is from arizona, right? he drafted and helped to pass the senate candidate bill on immigration. that is so much for marco rubio. one of the president's top priorities was comprehensive immigration reform. mccain brokered another deal, the filibuster deal that cleared the way for seven of the president's stalled nominees. and now senator mccain and it is open to legalizing marijuana one week after attorney general eric holder said he was okay with recreational pot use if states
approve it, of course. mccain saying at a town hall meeting yesterday, maybe we should legalize. we are certainly moving that way as far as marijuana is concerned. i respect the will of the people. i repeat, senator mccain said he respects the will of the people. what about the will of the 70 percent of people opposed to our main assyrian rebels, opposed to a military strike by the united states against a sovereign nation, a unilateral action? he respects the will of the people? are you kidding me? for respecting the will of the people on marijuana but not on syria, well, senator, you have one again. i mean, this is startling. -- starting to look rather decadent. we did not forget. the washington post photographer with proof that senator mccain
play poker on his iphone during tuesday's senate hearing on syria. that is right. this same fellow who is a very serious, serious legislator. the senator tried to brush and all of saying it was just a 3-plus our meeting. sometimes he gets a little bored. that is so appalling for a grown man in the position mccain is, and i think you would probably agree with me that deserves a dunce cap. also, it is curious why we have so many frivolous mines in washington d.c. doing the people's very serious business. congratulations, senator. no one has ever won four dunce caps in one week. you in the man in the oval office are the mirror image of one another, it appears. he says he was elected to end wars, not start then. and by the look on his face, that seems like a pretty good
♪ lou: the president's handling of the syrian conflict is such a political disaster at this point that not even his own grass-roots army organizing for action will go near it. the executive director telling surprise supporters in his weekly call that we don't always actively organized around every issue and the debate in congress over this jury about is not one that they are planning to or as around. the president must be more than a little hurt. my next guest says no republican who thinks seriously about america's national security analyst excluding john mccain and lindsay gramm can support obama's plan to shoot blindly into the syrian or dispensed.
joining me now, a best-selling author. gadhafi with the spirit of want to ask you first if you can believe if you are not just shocked that this president took the idea of a military strike against syria to congress for approval. it did not just shocking? [laughter] >> no, especially not when david axelrod to reach out something like ha ha political checkmate. he just wants to get congress on record because he knows his fawning courier press, never happens will blame republicans. i really think sense obama will not say i will go along with the vote this is just refuse to have a vote. i don't think this is required. it is not required under the constitution. but congress is always insisting. you have to check with us.
it's all right. this is in a declaration of war. even if they don't want to concede that point for constitutional ground to say you're not going to go along with our votes anyway. lou: the speaker of the house and the majority leader cannot endorse the obama plan which is on its face to me at least an absurdity. and on lawful and unamerican. it just is not something that should have ever happened. the fact is that the leaders of the republican party in the house are basically trying to say the president from his own political folly and also continue what has been almost three decades of military adventurism by this country. what is your reaction? >> the rumor is that he is not even going to run for speaker
again. that is how unpopular he is right now. especially this of all he won't just come out and say we are not passing an immigration bill because we don't want to go to conference with the senate bill. this is what has people the most concerned, and you're right. he leaps into support. you say obama's plan on syria. i think that has to be put in quotes. what is his plan? what is his plan if syrian response by, i don't invading jordan, attacking israel. there are so many contingencies year. what is the plan and what is the point? to "the ada liberals during the iraq war which i think was indisputably a magnificent success until obama came in and pulled all the troops out and it is falling into disarray, what does victory in cereal apply? cannavino it isn't going to end of getting the upper hand.
we knew there was not true. we killed thousands. installed a functioning democracy. does anyone think that is in a room a possibility here. lou: let me ask this. the republicans are behaving -- on entirely sure there be having in anything approaching a conservative manner. many of them have embraced the idea of going to war against syria. it want to call it that. limiting proportional strikes as if it was some sort of abstraction. where should the republican party's leaders be here in your judgment? >> they should be absolutely against this nonsense. of course, the american people should be against ever putting a democrat in the white house to be commander-in-chief.
everything this president has done, and i might add, the last several democratic presidents have been to make a mess of the rest of the world, but american in greater danger. better off or worse off with libya, egypt? i mean, with afghanistan, why on earth is he sending more troops? that is not a good country for regime change. if we had done it at the right time, syria would have been cut great country for regime change. frankly we only needed to have one functioning arab democracy. an arab is well in that region of the world. and he blows the success. a lot of american lives and money. he blows it by pulling out troops. troops in two dozen countries around a world. you could not leave a few trips beyond. the few that bush had left behind in afghanistan.
he wants to escalate it. it's almost 3,000. lou: great dancers and a great questions. thank you so much. take a second to get to our website. there round-the-clock coverage of the president's push for military strikes against syria. a feature story want you to check out on why this war on the employment rate does not translate to more americans on the job. up next, joe biden makes a pitch for outgoing homeland security secretary janet napolitano in a position many would agree she is not exactly qualify for. that would not be a new condition. that is next. ♪ ♪ nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions
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more step closer to reality. virgin galactic successfully connected its second supersonic test flight of what would be the world's first commercial space liner be. the spacecraft kate on its hybrid rocket engine and climbed to 69,000 feet over california's mojave desert after being dropped from a carrier aircraft commercial service. expected to begin next year. $200,000 per seat. some ride. al record night for denver broncos quarterback peyton manning. threw for seven touchdowns. to each to receivers. five coming in that second half after facing a three-point
deficit. the first player since 1969 tetryl foreign some scores tying a record held by six other former players. baltimore having a rough outing. that is what they get from becoming the first sports franchise to endorse and promote obamacare. i just made that part of. two teenagers checking out an attractive woman unwittingly became heroes in texas. that to spotted the woman in a car, suspected something was wrong. they called 911. here is a portion of that call to authorities. >> i'm on the highway, witnessing a robbery, not a robbery, kidnapping. you know, checking of the girl of the back seat. kind of attractive. all of a sudden the guy turned back looking to the back seat and the blonde female in the back seats whispering help me.
lou: police arrested a suspect, charles adkins louis shortly after and has since been charged with aggravated kidnapping. way to go. up next the defeated president return some, finally ready to make his case on a serious strike to the american people. just not yet. the "a-team" takes up that and more. stay with us. ♪ ank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
st. petersburg. have you ever seen a worse performance by any president, democrat or republican had the conclusion of a summit meeting? >> absolutely not. no one wants to even stand next to this guy. the president comes in alone. he is pushed off to the side. he could not convince one world leader to join us in the humanitarian flight to stop genocide. no deliverable on the economic summit which is was supposed to be. the president comes some empty handed and is respected and more over them that he now addresses the american people on tuesday when it is clear that the president has lost public opinion. lou: do you concur? >> absolutely. i thought this was a bad news story going in. it got worse. i cannot see him rescuing it by giving a speech. why his advisers think this is a good idea is mystifying. lou: the idea that u.s. forces,
this president is responsible for reducing military pay as of zero weeks ago cutting it to 1%, the pay for military, taking out almost $700 billion over the course of the next decade in military spending and then has the temerity to start talking about what many would consider to be, frankly, a frivolous unilateral act that requires a more serious multilateral institution like nato or the united nations rather than american adventurism. what do you think? >> well, sequestration is the economic equivalent to the red line that the president grew on the intervention in syria. the president came up with sequestration. it was his idea. then he tried to blame it on congress, the republicans. it was his idea. now he will blow through sequestration with the kind of
spending. if he does go into syria, hundred million dollars before it is a dollar. which means that he cannot get a special bill. he has to deal with sequestration, and that needs to go away. lou: russia sounds like president putin intends light of this president word to the proceed unilaterally, the cost will start rising rather quickly because you will continue his assistants irrespective of whether we attack. now will save a different way, what is a administration decides to attack even without congressional approval. >> there is no clear plan, no clear in the game. as you think through the kinds of things that they raise as possibilities, none of them. almost certainly any attack on
facilities that have chemical weapons involve the loss of russian lives. that is going to raise the stakes for this instantly. it will not turn out to be a clean, surgical, and easy exit. what they really tried to promise is an attack that is so point was that it will not harm anything and as a result will be cheap. that does not further anyone's interest. i am baffled by the entire exercise. it has gotten worse, not better. and when he comes back and talk to the american people on tuesday high don't expect a better story. lou: some of the sense that has been made by the of the house, that is talk that there would be a continuing resolution that would carry the country -- the government through until almost the end of the year. that is the kind of sensible judgment one would expect from
mature and responsible leaders. is this -- what is driving this? because it is not natural legislative talent. >> this is a really good move. i just think that it is perfectly sensible to say what as continue to fund the government at current levels. that does mean that come january they will have the across-the-board cut, the sequestered. raises the possibility that the president might for the first time realized he has responsibilities of the military reno he wants to and spend domestic funds. maybe you'll come up with a plan to get rid of the sequester. that is the kind of from -- position the republicans to put an end. lou: do you concur? >> she has it exactly right. i don't have too much faith in the leaders of the republican party when they leave the white house. we know the president's original plan was dead on arrival. they come out saying that they
are for the action that the president has sponsored when they know that the will vote no. i hope the republican leaders get some spine and start doing what they are supposed to do and be the loyal opposition and pushed back when the president is wrong. lou: we're not hearing from the republican party on a host of issues, for example, job creation. we hear about cutting regulation , cutting taxes, smaller government. we are not hearing real ideas about creating jobs. the and not hearing an engagement on that. it is difficult to me to understand why the speaker of the house still has his job. we have about 20 seconds. >> i did thi a good point which is to emphasize the potential of energy production. this is the bright spot in the american economic recovery and is something that the president's policies will seek. lou: that is the way that
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