tv Cashin In FOX Business September 8, 2013 2:30am-3:01am EDT
watch out. this is an interest rate play. >> david: thank you very much. that's it for "forbes on fox." have a wonderful weekend. thank you for watching. keep it here. the number one business block continues with eric bolling and "cashin' in." ♪ ♪ >> eric: it's the battle over the cost of freedom. not ours. theirs. syria's freedom. our tab. so, what would cost us more? attacking syria or doing nothing? plus, the blitz is on to sell you on their healthcare law. as the nfl season kicks off, the government is running commercials in the nfl to promote obamacare. guess who is getting sacked with that bill? speaking of bills, remember this? >> i experimented with marijuana a time or two. and i didn't inhale. >> eric: bill clinton says he didn't inhale but a lot of americans are. more folks smoke pot as more states look to legalize it and tax it. "cashin' in" cutting through the smoke and mirrors starts right now. hi, everyby, i'm eric
bolling. welcome to "cashin' in." the crew this week, wayne rogers jonathan hoenig, kimberly guilfoyle. welcome, everybody. we breakdown which would cost america more. getting involved and staying out completely in syria. kimberly, kick us off. we are going to spend a ton of money if we do this. >> shouldn't we be purposeful about why we're doing it and what specific outcomes and objectives we would like to achieve? right now, we are burning fuel out there waiting for a president who is indecisive. the waffleer in chief. the equiv quitor. that is what we wait on now. look at the economic cost. you also look long-term. how do we get out of this? is he willing to do what it takes to completely disable, dismantle assad and his regime in the answer is no. that's why there is hesitation. >> eric: great point. how do you get out? there is no exit strategy. wayne, $1.5 million for each
tomahawk missile. i heard 200, 300 tommachs sent that way. $6.5 million for each destroyer group. there could be a cuple in the region. this is a big, big bill we do know for a fact in afghanistan we spent $655 billion. billion is a thousand million dollars. we're spend at the rate of $10.5 million an hour. iraq cost us $814 billion to date, we are spending it there at the rate of $824,000 an hour. if you get in to this, it will cost you a lot of money. nobody knows how much. they can't guess. the same time you have to remember senator kerry testified before the congress, testified and he said he has an offer on the table from the saudis to fund this. who knows? >> eric: i heard from the left for 12 years that it's so
much money, cost us so much, can't afford it. now all i here is something we have to look away on the cost and something we need to do. >> no, in fact, i didn't hear on the right nick raise cost issue when we talk about going in to iraq or afghanistan. i don't think it's relative issue. wayne, a man who is experienced from "mash" told you the cost of what we're doing in afghanistan and aq. this is piddling by comparison. this is like $40 million for a carrier group out there in the mediterranean every week. that is the significant money. but it's not going to slow down recovery. it's not going to send us back in to recession. you know, given the instability in the middle east, oil prices, i think it actually helps. >> eric: go ahead, jonathan. >> first of all -- >> eric: allow me to pose the question. let me ask the question. some of the other wars we've gotten involved in, have a direct tie to america. i'm trying to find the tie to america syrian conflict has.
>> that is it. wayne served in the united states navy. the real navy, not just on tv as well. americans i think would gladly pay any price, whether it's in the lives or treasurerer for american interests. but to sacrifice american kids, american treasurer for the is a advantage islamists is -- savage islamist is treasonous. secretary kerry, should we take solace knowing a couple of people are helping the al-qaeda fighters. our soldiers are not sacrifices. they are self-interested and to send them off in any helmet of harm's way for al-qaeda's children, i think is -- >> eric: k.g., what about the saudi saying, the kuwaitis saying we'll finance this for you. do we want to be the paid hired hitmen of the middle east? >> no. the babysitter of the middle east, of uncertain jihad. who is on which side. you brought up a great point in the beginning, in the open, the cost of freedom. theirs, not ours. what are the objectives here? what are we hoping to
accomplish? more than the billions of dollars we have to go further to establish a no-fly zone. the cost of american lives. where does this end? i don't think it's foolish and naive to go in to think we can do a couple of strikes, flex our muscles and walk away and call at it day. not realistic. >> eric: kimberly has a good point. we have can't put a number on american casualty. if we are to think that if we go in to syria and we do bomb syria that there won't be repercussions or american casualties, that is foolish thinking; is it not, wayne? >> it's stupid. eric, u are absolutely right. look, hezbollah is with assad. we know that. al-qaeda is with the rebels. we know that. why not let them shoot each other? we have no selfish interest there to protect. it's just dumb. the only thing it can do if we get in, upset the whole region. from 18, 14 waterloo -- excuse me, 1815 waterloo to 1914 the peace of the world was maintained by men who understood the balance of power. it's our job and in our selfish best interest to keep
that balance of power the same in the middle east. for us going in there, dumb. >> eric: juan, give me, you said $40 million. i heard numbers thrown around by general dempsey or someone. secretary hagel. tens of millions of dollars. tens of millions of dollars. everything i have seen, go back through all the conflict we got involved with. the numbers are no short of billions of dollars. to deploy ships and send even just missiles. where do we get off te of millions of bucks? >> well, again, to me this is a matter of national interest. we're not playing games here. jonathan says why are we defending muslim children or something? look, on the moral issue -- by the way, i don't attach cost to that. if you are talking about the use of chemical and biological whens that is -- buy log call weapons that is a bad precedent to set against the world. they will use it against us one day and we should stop it now. the national interest has to do with iranp and with the opposition from china and russia. it has to do with the spread
of sectarian violence that threatens our ally israel. those are the national interests and we have no choice but to be involved. >> well, i agree with you. iran certainly, it's the primary sponsor of jihadism around the world. that is our interest. if the president actually wanted to use the military to help america, my thought is that he would be bombing tehran iran, not starting, getting involved in a civil war in syria, which to the point has no direct impact on the united states. >> jonathan, you want to escalate to a total war, i don't know why you want to take it to that extent. what i'm saying is this could simply signal don't use chemical weapons and iran don't you think about nuclear escalation against our ally israel. >> eric: hang in there, wayne. point something out. china. the chinese prime minister said if america attacks syria that will undermine the global economy. that should be a concern, too. >> it is. but i don't think -- it comes
down to recognizing what is your selfish best interest to do? it is not inur selfish best interest to get involved in the middle east on an active basis militarily. it is in our selfish best interest to help the balance of power in the middle east. by playing one off against the other. that helps the good old usa. that is who i'm interested in. i'm not interested in having a moral issue about something. it's our selfish interest that we should look to. not any moral issues. >> eric: leave it there. we go from the war on syria to the war on drugs in our own backyard. pot use is soaring with calls to legalize it and tax it with states. drowning in debt. should we at least puff onñi
ambassador john gillerman who will join us live. join us. >> eric: federal state, and local budgets going up in smoke. a new plan to wage war on our debt is catching fire. surrender the war on pot. >> marijuana use in america is growing like a weed. in fact a new report says 19 million americans smoked pot last year alone. they estimate the marijuana market at $113 billion. that is expected to keep growing as more and more states look to capture pot dollars through legalizing the use recreationagely, colorado and washington state, along with the 20 states making it legally used for medical purposes. the obama administration just announcing the feds will basically look the other way in states which decriminalize pot usage. in other words, you can be high as a kite in the mile
high city and they're cool with that. additionally, the pro-pot lobby points out that savings on enforcement would be in the billions of dollars. add in not ten earnly more billions in -- potentially more billions in tax revenue and the smoking allure of weed for states struggling to meet budgets is clear. parents group say pot is gateway to other illicit drugs such as cocaine and hai heroin d the struggling education can ill-afford a generation of this. is it a good way to pay down the debt? >> eric, all drugs, especially pot should be legal. >> better not be pot. better not be pot. >> this is a tv prop. tv joint. not only because it would raise a lot of money, $20 billion a year, but even more because government has no right to tell an adult what he or she can put in their bodies. legalization of pot, that notion was common in the 1970s. 11 states decriminalized it.
that changed unfortunately once ronald reagan office. we spent $1 trillion on the war on drugs. you know what? the drug addiction rates have not budged since the 1970s. legalize it and allow people to b free and fix some of the deficit we run up in the country. >> eric: now go to k.g. kimberly, you have ronin, six years old. what to be scary for a parent and hearing talk about legalizing drug. >> i have a hard enough time trying to get him to do his homework. the last thing we need is a bunch of potheads running around. i'm a former prosecutor. i never tried marijuana. i'm happy to be missing out. trust me. so for me i think it's not so simple. it's not going to be the budget winfall of cash just like legalizing. it's nighyev to think that. jonathan is attacking it from a different, libertarian standpoint aboutey, we have our own privacy rights, keep the government out. that is a different argument. but right now what we have seen clearly is the obama administration with eric holder not going to criminalize marijuana. they already said single user,
states like colorado and washington will be about setting the standard and why you might see some law enforcement cost go down, you are not thinking about the healthcare cost and the effect on americans' health. >> eric: interesting point, juan. where do you stand on this? i don't know where you stand on legalizing or decriminalizing pot. your thoughts? >> americans made the choice. if a state referendum said it's legal, they want it legal. i think that all the benefits you just laid out, not only the tax revenue, but the absolute inconvertible failure of the war on drugs tells you a big issue here in this discussion. especially when it comes to the spending. we spend a ton on this. it gets us in a ton of trouble. as long as people -- >> eric: may i stop you there. leave it to the states. fantastic. i love that idea. problem is, when liberals like yourself, when we talk about things like voter i.d. you say no, no, no. voter i.d. is different. don't leave it to the states. >> no, no, no. no, no, no, no. >> eric: or obamacare for that matter, healthcare.
don't leigh it to the state, make it federally mandating. >> are you kidding? what do you think the republican governors are doing with tex changes? they have a choice. when it comes to the state, referendum, which is what you had in colorado and what you had in washington state, that is not the will of one political party or somebody pushing the table. that is a will of the people. >> eric: all right. let me get wayne in the conversation. wayne, where are you on this? >> juan makes a good point. whether this is a state's rightses issue or a federal issue is a separate -- the question here, we have an example of this. we had booze. you know? booze, we had a constitutional amendment that said do away with booze. we have won't have any more booze in the country. end of that. that didn't work because it was already, as you said, the people already had embraced it. so we canceled that. went away. you got the same problem here with marijuana. a good lesson. people embrace it. they are going to smoke it. decriminalize it. and tax it. that's exactly what they have to do. >> eric: k.g., only one on the other side.
your last defense. >> the cheese stands alone. listen, i think that, i have seen too many negative effects of marijuana use. whether it's people operating vehicles or escalating as agatesway drug to other drugs like heroin or methamphetamine. i take it seriously because i saw it from the inside-out. >> eric: we have to leigh it there. coming up, helmets and healthcare. the government using pro-football to push obamacare, a winning game plan for the white house?
>> eric: it's a blatant misuse of federal dollars. wayne, your thoughts on this one? >> well, it's idiotic is what it is, eric. can you imagine for example spending taxpayer money on advertising the virtues of allowing the congress to trade on inside information for example? or to advertise that the income tax is a great idea. [ brief pause in captioning ] >> oh, no, this is terrible!
>> wait -- >> wait, i want to correct, i want to correct juan. >> let me say one thing. >> kizer this week said that for those young males who would be watching the nfl, there are more options, it's not going to be as costly. good news for obama care. >> go ahead, john. >> the government role is protect individual rights, that is it. what else is this other than propaganda. my god, is obamacare is wonderful why do you neede in i? it operates by force. including wayne's ad, call us, the football game. >> obama care. er the best.
>> a car that has no engine. about doesn't work. it's flaws. so this is a misuse, i believe of government dollar. >> can we throw up the statement? the ravens gave us a statement. it says, quote, this is an advertising package purchased by a stategency like we have business associations with the maryland lottery and the maryland national guard as well as other groups like giant foods and verizon. let me go to you, one big glaring difference. this is taxpayer funded. >> yeah. this one is part of the legislation approved by the congress of the american people and again, making sure that americans are aware, jonathan makes the point it's on our personal liberties. it costs a pretty penny. >> if it's so great, how come everyone wants out of it? >> nobody -- that's not true. >> looking to get exceptions from it.
>> that's not true. some people who are, you make a good point. but it's not overwhelming. in fact, right now, what's overwhelming is most americans say, let's see how this works. stop trying to repeal it. the republicans in congress are going to have more votes to repeal it. what a waste of time. >> go ahead. last thought there. >> well, i can't believe that, juan, you want to speculate on legislation. intelligent people are supposed to do things that have some research behind it. this is moronic. they haven't done anything. they've got 2100 pages, 2200 pages of something they want to try out and see if it works. good lord. if we did that, everything would be stupid. >> we are going to have to leave it there. good exclamation point at the end of the block. thank you, wayne. thanks for joining us this week. coming up, final thoughts on big decisions about to go down on syria.
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what do i need to know for next week? wayne, you're up first. >> i talked about some time ago, ford motor company, selling at ten bucks, then 12 bucks, i like it today at 17 bucks. it's a good company. great company. >> great call. great call going forward. how about you, jonathan? >> moving on up, and i'm not talking about the jeffersons, talking about interest rates. everybody's waiting for the fed to taper. interest rates headed up without a taper especially on the short
end. an etf, i own it over at capital, it goes up with short-term rates. smart right now. >> talk about the jobs number, 7.3 unemployment, still elevated, right? >> despite intervention, stimulus, unemployment above 7%, pathetic. >> 16something thousand jobs. we need 200,000 jobs per month, right. >> at the very least. that's why you've got to be careful. but still, about where you're putting assets in the market. long stocks but short bonds. >> you've been hot, staying hot. good to have you on this week. awesome to have you around. that's it for the cost of freedom block. before we go, our lawmakers and president are on the verge of deciding whether to attack syria or not, folks. there's a crisis in syria, no doubt. i'm not an anti-war guy, but this is not our war. no more blood and treasure spent on a conflict that has nothing to do with america. threaten america, we won't
retreat, we'll reload. but this conflict, no way. have a great weekend, everybody. the big story, of course, is syria, but the big story that really matters to us is jobs, or the lack of them, or the lack of good-paying jobs. the unemployment numbers for august are out, so we're digging into the report to show you what is really going on with the job recovery. right here, right now. >> from the fox business network headquarters in new york city, it's "the tom sullivan show." here's your host, tom sullivan. >> thanks for joining us. here's what i have at the top of the stack. once again the monthly jobs report was, well, to say the least, disappointing. 169,000 payrolls were added in august, the unemployment ra
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