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tv   Cavuto  FOX Business  October 24, 2013 8:00pm-9:01pm EDT

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>> forget the far right and now the left is having an out. why so many democrats are piling in to allow they now support. and no wonder hillary clinton seems to be keeping her distance from the president. and up against the wall, the big retailers opening 110 stores there because it's had it with politicians and unions here and now the government is going up to jpmorgan. but was it the securities and
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exchange commission's job to do that? and remembering the words of jimmy carter 35 years ago tonight. something that barack obama might want to listen to tonight. all of that and showing other automakers how it's done on the show that always gets it get that done and gives you the moneymaking that you need right now, starting now. >> emergency staff. even democrats are abandoning this sinking ship like rats. >> it's not only the right thing to do, but the practical thing to do. >> what has happened is january 1, 2015, transitioning
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and let's fix this thing. >> amazon and ebay don't crash the week before christmas. >> the president should man up and let us know who is responsible and who is in charge and fire him. >> lets just wait a minute. you were all for this thing a couple of weeks ago. congressman allen west, what do you make of this pile on this time from the left? >> it is good to be with you, neil. it's all about self-doubt preservation. what the democrats have found out is that they own this lock stock and barrel. back in march of 2010, the affordable care act was passed about one single republican vote and they are finding out they are trying to govern and put this into it from the side of the patient and they are trying
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to separate themselves and this again will be in the midterm cycle and there are many democrats out there that are concerned about it, just as the same as they were caught with their pants down in 2010 and they didn't think it would be that big of an impact. neil: when you think about it, a lot of these guys were complaining are not necessarily over reelection. some of them are quite a ways off and yet they are still sounding off about this. i'm beginning to think that there is a pattern here or a sentiment, or they are genuinely shocked that no one was policing this were shepherding this because they are coming to find out that it worked. >> the house members will definitely be up for reelection in 2014. on the senate side you have about three or four of those senators that are assets.
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mary landrieu in louisiana, and also some in arkansas that have really come out and got along with joe manchin to say that we should delay this for a year. but the problem is that this is a huge revenue stream for the affordable care act for the 159 government agencies and bureaucracies that this quasi- wobble bring into effect. and therefore if you cut that out, you are really going to take away probably two of the three legs of this obamacare school. >> what you are stating in so far is this is you keep delaying key provisions and you start talking about what had a clear mandate and a clear rule out and it's nothing like the lotto is implemented. >> that's right, as a matter of
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fact, you even have a case out there that is challenging the supreme court's decision. because when they said that the individual mandate was part of taxing authority of the federal government of congress, you have violated the constitution and that the affordable care act emanated from the senate and the senate cannot have any kind of revenue-generating generating the legislation so we still have a legal challenge for the affordable care act. neil: "the new york times" is criticizing health care and i'm not just talking about the website of the law. look at this website. we have an individual who read the headline and he is here with us now. something is going on and he
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says it is the left reassessing everything. >> something more in outrageous, calling it a debacle on nbc news last night. what is going on. they are finally covering this premium. they are covering it because of barack obama himself in so many words said that it's a train wreck. they were not covering it, it was just a glitch here and there and now they are finally covering it and there's a fascinating question on the horizon as you see the democrats line up and call for a delay because this thing is simply not ready. when are you going to see those reporters, and i will buy you with 10 beers if you can show me a single one that will say, wolves, maybe the republicans were right in the shutdown and the democrats were wrong to allow the shutdown and maybe we
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should have delayed this thing. >> knowing how cheap you are, i know that that will never happen. [laughter] >> you mentioned brian williams and nbc was the first to report this rumor going on to the president was going to delay the implementation of the individual mandate and the health care law and why they quickly repudiated that. but obviously the white house is on defense with almost anything it wants and says and i'm wondering how long that lasts because typically what we have discovered after benghazi on the part of mainstream media as we did with the irs scandals going after tea partiers and targeting reporters, that wins in a run back to the president and hunky-dory. what do you think of that now? >> it's the obama factor with the media. it's interesting that when they
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had ignored the irs scandal until barack obama said that he wasn't going to stand for that. you remember that? there was coverage then everywhere. and then he announced this and we haven't heard anything in over 100 days. >> the point is when he announces this, then what will happen? >> lets say this thing is delayed significantly. i had some the i.t. guys with me yesterday who said that this is really many months if not years to sort of technically get it right. and it could itself be falling apart on its own accord. is that right? >> yes, but the media is not going to stop cheering for the concept. but i think that they are going to be critical as they are now simply because nobody can dispute that this was a
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monstrous failure on the part of this administration that told the media that everything was ready to go. they were ready. so i have a feeling that there are some who feel that they were used. neil: brent bozell, thank you so much. there is really no incentive to sign up. is your generation feel and who cares, let's take the penalty because this really isn't worth the. >> thank you so much for having me on. i think younger people feel cheated. 1.7 million young adults right now aren't even counted for the unemployment numbers because
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they give up looking for work. >> what i'm curious about is a lot of young people are much better at technology. so many of your colleagues have been able to get into this and look around and see what makes sense to them and they have concluded and they willfully say that i don't have to pay a penalty because it's just not worth it. >> absolutely. we have seen health care premiums rise nearly 200% for young people under the president's health care plan and they promised that the website would be able to be used and it hasn't functioned properly, i don't think they are impressed either rollout either. neil: i wonder if it's just the virtue of being young. you feel indestructible. and i'm wondering if it is a cavalier attitude for you to say
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we don't need this. but then we get to be an older person like me. and do you think a lot of your friends and people you know are being a bit too blasé about this and they just don't appreciate now how valuable health care would be to them later, or do they think that it's just not working? >> i think right now they are doing a cost calculation of not only what they are making right now, but the potential penalty that they might have to pay for the cost on top of the student loan debt and say it's just not worth it for me right now. >> that is pretty strong stuff. thank you so much. neil: all we hear is the republican party and what if i told you this far bigger between prominent democrats? take hillary clinton and the president of the united states and the idea that they are
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getting along famously with a big grain of salt because she just zinged him.
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neil: after the shutdown. hillary clinton opening up. the chinese president showed up, the alaskan president showed up, and they were able to dominate the proceedings and everyone is talking about this. but this individual thinks that democrats could be experiencing much more fortune and that is interesting that she was saying this with what we were told is sort of an off the record chitchat. already laying the groundwork for giving us some ground distance with the president. would you make of a? >> is an indication that in 2016 the democrats will have to distance themselves from president obama much the way that john mccain tried to distance himself when bush was down to a 20% approval rate. so you see hillary making moves to do this, a couple of magazine interviews, criticizing the president stands on syria during
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macri says. so we knew that she would campaign against his second term and foreign policy, both only thought is that she realized is that the economy will be a major issue in 2016 and she needs to start distancing herself from those policies now. >> whether you agree or disagree, it's something that we think about, how they resonate abroad. because of political stops at home. in other words, everyone is gathering abroad for these powwows. and it's sort of like the host never forget to rsvp. >> the sad thing is she is right. she's talking about obama's policy and it's true, the chinese rating agency downgraded that from an aide to a grave a
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negative. and so our position on the world stage is going down and hillary recognizes that and bill recognizes that they are going to point that out over the next couple of years. >> for democrats, the major media is pretty much, i would say democrat family. they don't want to make it look like they have an internal war or anything like 1968 or that kind of stuff. so how does she particularly walk back? >> i think it will be difficult. i think a lot of bills supporters in good it will put the democratic party back in a moderate direction. i think that they are naïve. because were all the money is the progressive ideologues. it is sort of the secretive donor network, there is early
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fund-raising and we see david brock now standing up which is a major weak spot and these put obama in the white house with their money and they are getting behind hillary in 2016 and i don't think it's going to be very easy for her to play to the same interest that obama plays too. >> so this could be not a slamdunk for her. thank you so much, pat. it's great to have you on. neil: wal-mart is fighting politicians here. opening more stores in china. saying that it's easier to do business with china than the united states. not only is china getting our money, the great rollback deals in the sky is worried that he has to fly to china to buy his halloween candy.
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we will read on-air coming up next. thank 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.
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neil: wal-mart is opening up 110 new stories. let's clash at al with wayne rogers. you say that you really can't blame the cities for what wal-mart is trying to do. why is that? >> what it comes down to is local control and cities have the right to decide what kind of community they want to have and what kind of jobs they want to create there. i just don't know.
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you open 110 stores in china, that seems like all roads moving forward. neil: i think that they are opening stores everywhere, but there is a disproportionate number one it seems to be abroad. >> they're going to go where opportunity is, that's the free market system. if i'm being restricted and characterized as somebody who is antiunion or anti-paying the right price or what ever it is and i can get it cheaper there, everybody worries about losing business overseas, jobs overseas. >> i know you're talking about the types of jobs, but what about the fact that there are jobs that people needed and that is being sniffed at your. >> i think that that is a factor and important, but it really is
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if you want good jobs coming in. >> but what if a community doesn't get this at the city council for the town council to decide that we don't think you are good for us and ignores the consumer who might like this with a 4-dollar prescription drugs and they don't get the chance when. >> that is exactly what i think happened over the last couple of weeks with wal-mart in washington dc. and if you look at the timing of this, this is also right as we are going through a government shutdown. it wasn't just a federal workers that were furloughed but the people who worked outside and the contractors that worked in the kitchen and a huge time of uncertainty that the city has no control over. >> i understand what you're trying to say.
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you can talk about whether one company should pay more, even the employment reports show that a job is better than no job at all. >> and where did it come out to the public officials, not the public that the public officials can coerce me to take a job or not take a job. it is something that we have abandoned in the law that is totally wrong. wal-mart wants to come in and compete with me and they should be able to hire people, just as i should have the freedom and we pay more to get back on and that's fine. but do not coerce me to do that. neil: someone is forgetting this average. the folks that you talk about in washington dc, where you have to go into virginia or maryland to
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get cheaper groceries or what have you. and why should you even have to do that where you have to go outside the island sort of get any reprieve on prices because they don't allow those big-box guys. and i'm just saying that it's weird. >> it is a growing trend that people are sort of revolting and looking for mom-and-pop stores. >> once these big-box stores going to push out the other competition, there's no saying that they won't raise their prices. neil: they could triple their prices here in new york and they would still be below the mom-and-pop stores that you have talked about. >> competition is what brings the price down. so competition will bring that
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price down if you have a lot of people in the market wal-mart is nonunion intends to contends with family in terms of city councils and local assemblies. so if wal-mart were to be unionized tomorrow, would it run as a have to agree to get to that? >> it definitely has to do with the wages they are paying. the one that would've they were unionized? they are nonunion. >> it's true that they work both ways. it helps and hurts in some cities on others. [laughter] >> i love that analogy. unions is to do something for the workers. we see what happened in the
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automobile industry and they have destroyed certain industries. now it's something that doesn't help us. >> i mean politically sometimes it helps and hurts. neil: i could be wrong. but thank you both very much. you probably heard about this. the government getting bothered about this. angela merkel is bothered. saying that i'm not spying on you or snooping on a cross. but not only was our government doing that, but on the cell calls as well. bny mellon combines investment management & investment servicing, giving us unique insights
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neil: the nsa is capable of doing herculean type of spying and we are learning 124 billion phone phone calls were monitored in just a month and that includes local leaders like angela merkel who think she might've been one of them and she's not the only one mad about it. reading the following, thank goodness that there is at least one government program that works, insert sarcasm. some think maybe this thing could've been avoided. and finally, we, the people, have become the enemy. obviously when you get a leader of the country a country concerned the novel was she being eavesdropped on whether cell phone. that gets people's go whatever
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the german word is forgot it. what do you make of that? >> you point out 125 billion phone calls a month. probably pretty good chance to unite dollars and two and august >> like my pizza order. [laughter] for most americans would like, they can eavesdrop on me. but what they hear will be born. but let's not be complacent about this. this is so reminiscent of germany pre-world war ii with hitler's rise to power. neil: i know your concerns and i
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will raise this question and concern is how powerful it is and how many americans don't realize. >> when it came to this and what they were concocting and coming up with in boston, it kind of goes along with that. for all of their energy and collecting records on people, they missed this stuff. >> they do and whether that report? they thwarted 54 different instances of potential terrorism and that it was revised and they turn turn out to be so serious that we have a lot of time and money and isn't making us any
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safer? i think it's making us less safe because the world distrust america. neil: i wonder when i hear that stuff. they call the ambassador into this for a verbal flashing. in the play, we live in a world where people cap each other's phones eavesdropped. was this genuine rage of the united states? >> i hope it ends up being genuine and i think this is what the country was founded on is the notion of civil liberties and it has gone on, but to this extent in this level, a judge grants surveillance or the ability for the government to eavesdrop on 113 million horizon
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users? that is pretty don broad. and where is somebody looking over someone also shoulder? this is due process. neil: you are warning about the excesses of government and what it can do with good intentions. gary johnson, thank you so much. neil: in the meantime, this takes things to a new level. these guys are not responsible for the whole bernie madoff thing. they get a pass. they guess he doesn't? on the government picks and chooses who wants to go after. it is busy going after explicit videos. we will have that next
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neil: do you remember bernie made off? folks talked of everything he did and no signs of anything involved. they completely missed matt -- bernie madoff as well. somehow they are responsible for his embezzlement. if my memory serves me right, i think it was the fec where they had all of these guys that were watching porn when they probably should have. but now the government is jumping on institutions that have nothing to do with them. but that is weird. but once again, it shows the scapegoating of the government
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knows no bounds. >> would he make of this? >> they were otherwise occupied. you know, we saw this and it's so easy is an easy target. you read my piece from last week that there are a lot of co-conspirators here to the extent that they were comfortable and they should pay the price and i have no problem with that. but the politicians got away scot free. you don't hear anyone in congress talking about it and the situation is this one example of that day. i was in congress at the time, as you know, the abusive tactics from those who pretended that people didn't have to have credit or down payments or assets or nothing, no credit history. it's the american dream and it is crazy.
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now nobody is paying the price for it. >> that's human nature, okay, have at it. but particularly in the case of bernie madoff, that is up to the security and exchange commission and that is completely part of this whole picture. no one realizes the hypocrisy of the fcc missing out on policing the sky, albeit with plenty of warning were a lot of people were saying there is something not quite right about this and so now you have the government going after these investment banks and that is pretty crazy. >> that is easy. we have some regulator, and the justice department were a member
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of congress for that matter to push all this stuff together or jpmorgan and 11 billion, 12 billion, 13 billion-dollar settlement. and plus they get to demonize the banks, and we saw it with the mitt romney campaign. his connections with capitalism and it's really its really easy to do in your progressive these days. neil: governor, thank you so much. neil: 35 years ago today, jimmy carter, a big speech. we want this president to look too closely. it's the no-games, no-messing-'round,
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neil: 35 years ago today. president jimmy carter now trillions of dollars later, obama doesn't seem as concerned. let's redo this. >> our people are tired of wasteful and federal spending. >> we don't have an urgent deficit crisis. we are going to hold down government spending with the government deficit and eliminate the government waste. >> we will cut the budget deficit. >> you know what it is back then? got a $60 billion and that is what we wrapped up in a day. peter says they are even more
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myth than this president should be much much more concerned and it's good to have you back, my friend. that was then, and this is now. >> its rich for obama to say that there is no deficit problem on his deficits are so much bigger than the deficits he complained about under president george w. bush. >> going from 1 trillion to around 700 billion, thing that i guess i could stop and diet now. >> if you imagine it taking on this, it's still sinking in and this is the debt that is accumulating. every time you add the chili in dollars or whatever the number is an annual deficit, you're adding to the national debt, and we keep piling on to the total
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amount of debt that we owe so the long-term crisis is real and they have said that the trajectory we are on is unsustainable in the debt levels are highly unusual for a postwar period, we are on track to have about 70% of debt to gdp and you just can't keep that up. you can't keep doing that. >> a lot of folks argue that you can grow your way out of it. another internet type of boom, you needn't worry, you say don't be so foolish. >> growth helps, but them probld it is entitlement spending over
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the next decade or two is the primary cause of the growing debt and that is not going to be something we can grow way out of this unlike the affordable care act. >> incomes were part of these big tax cuts and deficits loomed and republicans were a fine example of how to get out of those deficits may just piled on and so a pox on both houses. >> i think both are responsible here and i will actually agree with the former president obama before he was president when he criticized george w. bush and we have both presidents here that have done too much to add to the debt and it's also very clear that president obama has done more in terms of adding to the
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neil: let's get right to it. first up, we have carl ichan. now he is urging tim cook to buy back stock. so what do you make of what he wants? >> he is an activist and yet he is acting more like a bully. this is essentially him saying that you are living well below your means.
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borrowing $150 billion at 3% interest rate because that will increase the overall stock by 33%. but who is he to come in here and tell him how to run this company. there are significant risks with the ipad and the iphone, no great revolutionary developments and plus you have tax reform coming down the road and there are so many unknowns for apple and i think that even though apple has 147 billion in the cash stockpiles sitting on the book, investors should feel something about that as well. >> apple is being a little too candid. would he make of that? >> well, carl ichan says that it was his most compelling investment. he published on his website that he was going to buy more stock. i tend to agree with him.
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he is carl ichan. they are buying stock back and they do that at a higher rate and make a stock more attractive and i think it's the right move. neil: do think what has been positive as part of this? >> he wants to get on the board. >> the stock is over $700 and it came down to about 385 and it gave them heart of the stock. and that is appreciated. neil: in the meantime, we have novella and no problem. even bigger profits for the rest of the year. is there a way to talk about
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success considering it wasn't bailed out? >> absolutely, no bailout, no problem. a good management, fiscal restraint, they know how his own last quarter was up and the s&p analysts that just raised their rating has said that it is hard to overstate the links that they have increased this and i think others can learn lessons as well. >> the current ceo might find him over at microsoft after the ceo steps down. but the global economy stepped up, and that has helped them tremendously. so china is number two in sales. but it's worth making a great
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product. if you make a great product, the midsize sedans are taking the market shares from gm and others and that says a lot. >> they have not fared as well, often being equal, they are not often equal. >> it's interesting to look back and think that that is so smart that they brought $23 billion and it was methodical and slow and the product speaks for itself. neil: that sound is time for our nightcap. >> tomorrow before the market opens, i'm thinking about durable goods. durable goods are coming in better than what the street expects, and if it looks that
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good, then i think it bodes well for the market. >> really, why is that a good thing for you? >> a lot of that we have sequester in military spending and this is an indication that our economy is starting to pick up. >> twitter is not not technically a company yet, but we are expecting a situation this week to hear about this and we will hear about the roadshow and the eventual exact price and we will get the price range. >> i think that twitter has been very conservative and they are not putting too much out there. it's a much smaller ipo.
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>> in the meantime, we will be following up and we will be following the health care law next. >> the fed? f-e-e, fed? john: what is the fed? >> i don't know. john: most americans don't know, yet we give them enormous power. the fed likes it. >> americans have always been reluctant to give too much financial power away. but we still need somebody to foster conditions for a healthy economy. >> your dollar will be worth just this much tomorrow as it is. >> the dollar as low as 96% of its value. >> not everybody likes it. i think it will --


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