tv Your World With Neil Cavuto FOX News September 6, 2012 1:00pm-2:00pm PDT
height of the day, dow jones industrial average up more than 240 points, 1.87 percent. could this portend anything for tomorrow's job numbers in we will see. see you back here tonight for the fox report. right now, "your world." >>neil: this is the big night for president obama, in charlotte, north carolina, and stocks today, they were up, and up a lot. next, the s&p at its highest level of the entire presidency of president obama, 242 points. there is good news and worrisome news attached to that. a startling good news on the service sector job report. in other words, services and related jobs bombing in the latest period that could be good
unemployment report that comes out tomorrow morning, but, more on the worrisome side and what this has to do with the european central bank hinting they will come to the rescue europe. wall street does not flip over this, and certainly the last few years does not like the thought that europe will come to the rescue in europe. at least the european industrial bank, so, danger that -- take that as you will. and now to the original venue for the shindig, with the obamas, and bank of america stadium, this is the place that holds up to 74,000 plus and they canceled this on gears it would rain. for a while it was pounding driving rain, so, whether you are in a crowd that believes this was canceled on the part of weather or a helicopter crowd that says they could not fill the seats, it really was and is raining in and around the stadium so it certainly would have been unpleasant at the
least for those crowd into the stadium. instead, it will be 20,000 plus packed in to this convention center behind me. back to all the cross countryies because if the jobs number sticks, and does mean a good jobs report tomorrow it could speak to what bill clinton was speaking about, things are picking up and the trends indeed, is president obama's friend. the virginia governor, i would imagine, quibbles with that. he joins me from the nascar site. what do you may of this? >>guest: well, everyone is happy when the stock market goes up and we will have a great speech by president obama tonight following on a great speech by bill clinton but the economic reality is, gas prices have doubled as the report came out monday. tuesday we hit $16 trillion in deficits, $200,000 plus a family. tomorrow, whatever the job numbers are, more than likely it will be 43 straight months over
8 percent, 23 million people without work. so, great speeches, that does not create good policies or jobs and we still have the bottom line being the record of president obama which is bad on jobs and debt and speeding versus the ideas of mitt romney. that is what the race comes down to. >>neil: the race also will come down to the stock market a little bit. you might as well go with whatever seems to be going your way. look at the s&p now at highest level in four years, the highest legal of my administration and beyond, and i will run with that. so, although he has gone after wall street fat cats and capitalists he could turn right back and say what you are wind -- whining about, i am your friend. >>guest: but of course they didn't build it. i would say they did build it and businesses are doing the best they can although they getting pounded by this administration on taxes and regulation. they are making a run of it. but the misery indegreesing
still, is so high with unemployment and gas prices, tuitions up 25 percenting household income is down $4,000, lowest number of new businesses, new entrepreneurs in 30 years. this is not anything good or fundamental this president has done out of washington that would account for a turn around. business is doing the best they can to be able to create jobs with a bad economic climate in washington. so, it comes down to the fact it isn't speeches that deliver good jobs but good policies and by most measures this president hasn't gotten it down and mitt romney has a five-point solid plan for the middle class to grow and prosper and most independent voters say, it hasn't worked for four years, give a new guy a chance. >>neil: last time you stopped by to join us on fox, you talked about momentum and how the conventions, whether republican or democrat, it is about jazzing your base both parties have achieved that.
you at your shindig last week and democrats like to say the same in charlotte. >>guest: i can speak for virginia, both candidates say they have to win virginia to be president. romney was down eight points and now virginia is a dead heat. the momentum is on the side of romney. even the lead democrat in virginia, senator warner, does not see the enthuse a that the president had four years ago energizing the people four years ago. the people doing the worst in this economy are the ones he energized, minorities, college students, they do not see the economy they hoped to see four years ago. i see that trend continuing. and mitt romney and george allen winning in a close election. i see our base energized and looking for a sea change in the
way washington looks at business. >>neil: thank you, governor. thank you, governor. >> listen to me now. in president no president, not me, not any my predecessors, no one could have fully prepareed all -- repaired all the damage he found, in just now years. >>neil: covering bill clinton last night on fox, the most remarkable fallout was how the media did not really check the fact check are himself, that there was this mesmerizing way with the delivery of bill clinton, in doubt, an incredibly gifted speaker but when he asked about fact checking republicans, very few in the media started fact checking him. last night we immediately began
looking into the numbers that seemed vague on stuff like budgets and debt and health care but there was very little of that last night great the mainstream media, very little criticism of bill clinton, at all last night. the problem isn't so much that the media bigs and chooses who it wants it, whatten but who it leaves out. that is proof that bill clinton is a big deal. no one spot checks it. the guy who did and does with us now, mark let -- mark levin. you were spot checking. >>guest: you know, it is hard to keep track when you give a castro like 50-minute speech. let me tell you what i didn't hear them address. by the way, ronald reagan did turn around the economy in four years not because he did it by himself but because he embraced free market capitalism and undid
what jimmy carter was doing to the private sector economy. so clinton like so often is inaccurate. here he is not under oath and he is still not telling the truth. >>neil: also, i know you do this well president had a lot on the plate win they came to office, abraham lincoln came to mind but i digress. >>guest: they have to build up obama by pretending that the circumstances he has been dealt are unprecedented. here is america today: the governor is right, 23 million unemployed people, 15 percent comprehensive unemployment rate. 48 million people on stamps. one in six people in poverty. disability insurance massively growing. no one gave me this i put this together myself. 25 percent of the g.d.p.ening devoured by the federal government. over $5 trillion in additional debt in four years. what do we have do show? $1.7 trillion a regular in regulation costs, the epa is
closing down mines and electricity plants and oil fields. we have a looming massive tax increase on january 1, we have continuing home foreclosures. that has not been stopped. median family income down by 5 percent. we have a depression here. you guys in business and the economists will tell us this is a recovery but we have had 56 straight months since the recession is supposedly began, and now they proposing another $650 billion on top of obamacare and all rest of it in more spending. now, bill clinton is not running for president because we have had new of him. >>neil: why wouldn't there be, obviously, if there were fat checkers of everything paul ryan said, my point is, not nearly
the same zeal, and there was a good piece in the "washington post" that, examined the more obvious ones and we tried to get them on fox business, obviously the welfare claims and the report it was all republicans to blame for the budget negotiations. i was there through the ongoing days and there is a lot of blame do go around but to fault republics for to torpedoing it, the plan submitted by the 39 did not gut anything just tripping the growth. even then, just barely. why not the same zeal to go after president clinton? >>guest: gingrich should have gotten a standing ovation because as a speaker he came in because health care was rejected and they fund the house of representatives to the republicans and they felt clinton's feet to the fire. he never had a surplus or balanced budget because if you look at media not only are they mouthpieces for big government,
and mouthpieces for the welfare state, but many prominent members of the media are former democrat stafferors former white house staffers. this is a problem. my attitude about this is, to hell with the media. the facts need get out. reagan had to defeat the media and the last. >>neil: but they are not. i don't care if you are left or right, red or blue, you have to be big on basic facts. when it came to discussing health care, programs the most ominous piece of legislation and onerous piece in terms of handling it, he got a couple of very basic things wrong, if you had a problem with what paul ryan was saying and you rip him apart you better start understanding what bill clinton said last night on health care. respond to this, bill clinton, last night. >> listen to this, for the last two years after going up he times the rate of inflation for a decade, for the last two
years, health care costs have been under 4 percent in both years for the first time in 50 years. >> let me ask you something, are we better off because president obama fought for health care reform? you bet we are. >> quickly, that jumped at me because we had low rates of increases so far because this thing calls the recession, but, that aside, no one quibbles and no one said, wait a minute. >>guest: first of all, it is not true, 4 percent in over 50 years that is a flatout lie. >>neil: by the way, it leaves out medical premium increases, stunning as that is. >>guest: it leaves out policy
on college campuses which are doubling and drip peopling because of hhs imposing regulations on basic health care plans. i can tell you a group that i run, our policy in the last two years is up 54 percent. individuals are having difficulty finding health care and small group policies are harder and harder to find, and college students are finding that their policies are doubling and tripling on college campuses as a result of this so this is nonsense when they throw these figures out. i want did make another point. to put this man up there like he is an economic genius when he is the godfather of 9 community reinvestment act, subprime loans, derivatives, and his hacks remain on fannie mae and freddie mac, making tens of millions which helped cause an almost financial collapse in this country and his fingerprints are all over there is funny and i have not heard people talk about that, either. >>neil: thank you, mark levin.
the community reinvestment act spurred lending so we could go from making this hard to get a home to almost a birthright that is then. here we are now. >> and for elizabeth warren her memorable line: corporations are not people which of course is news to mitt romney who says corporates made up of and led by and, well, accountable to people. it is a central theme of a convention that sees a lot of companies as a big part of the problem. a former c.e.o. is going to set the record straight, he says, and stop the nonsense now. copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty.
they cry. they live, they love, and they die. >>neil: right now, the former mcdonald's c.e.o. who begs to differ says corporations, are, indeed, people, and made up of people. you did fought like that? >>guest: well, the point of view is absurd. of course, people are not people. they are legal entities but the reality is, a corporation cannot exist and move forward without engaged hard working people that have a sense of understanding and leadership from that corporate leadership. if corporations are not people, then government certainly is not people. that woman is so sophomoric, it is a bad commercial. absurd. >>neil: mitt romney famously
said corporations are people, made up of people, paraphrasing, but does that comment, i know what both people are saying and what mitt romney was saying, does this come back to bite either party? >>guest: i think mitt romney has it right. we cannot succeed in this country, we cannot support our constitution, we cannot move forward as a society without people being engaged and having leadership and understanding the future. strategic leadership is the must important thing any corporation or government can have. we have no strategic leadership at the federal level right now. ' sophomoric people like her cause the problem. federal government gets in the middle and in the way of everything we try to achieve. they are an obstacle, not a path. >>neil: what is interest, because this president, ahead his remarks, he will have
business market wind, of a strong performance of the s&p and the dow today, the highest of the presidency in four years and the dow doubling, so he could go right back at you, and say if i am anathema to business look at the market. >>guest: there has been big announcements from europe of what they will do to solve the problems of spain, for the gal, greece and what have you. that stimulates people. who knows in the market moves in strange ways as far as i'm concerned. i don't know what will happen tomorrow. it could go the other way. people will take profit. this is not about whether the market is up or down but about whether people have jobs, whether they are feeling positive about life and whether they will create and generate value in raw material and resources and take a hard labor
and produce so our country can move forward. when you have as many people unemployed as we have, you have a catastrophe, a tragedy. don't tell me the market is up and people down $4,000 in income. that is not a formula for success. >>neil: all right, ed. >>guest: president obama is a nice guy, who cares? >>neil: more after this.
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that. >>neil: i think, congressman was one of the few who address the debt clock, maybe not the way some republicans would like. he joins me now. i have to say, congressman, it is amazing, with the exception of you referring to it, how few of your colleagues spoke to it. >>guest: i beg to differ on that. i mentioned it and president clinton talked about the deficit and the debt issue, he pointed out, really, what i pointed out, weapon he left office we actually had projected surpluses for a long period of time because when he put together the economic plan he did it to a balanced way. he invested in the economy and if you recall, back in 1993, he also said we have to take on this deficit and he asked for some more revenue. he government -- got it.
>>neil: i have yet to hear, and maybe i missed some speakers, anyone who said the president has made any mistake, and, i think that the president's most revealing line was maybe i didn't argue my case better but, never, that he botched anything. do you think the president bopped -- botched anything? come on, did he, in your opinion, do anything wrong? >>guest: not the substance. let me talk about health care. he let some republicans especially in the senate make him think they wanted to work out something along the lines of the mitt romney massachusetts plan. people like senator grassley who used to be very much in favor of the kind of plan that mitt romney had in massachued to takl and democrats, say, wait, here is a guy we can work with. but, other unanimous that kind of thing, the president was in
challenging times, we know that. the economy --. >>neil: should he give that a rest in we know you inherited a mess. maybe move on to another one. do you think the american people are in a mood to hearing my god here it goes again with the "here's the mess." >>guest: we do not think all republicans are evil. you know that is not true the i get along personally with paul ryan. we have strong differences on the issues. when it comes to the situation the president inherited, it is reasonable to point out we were losing 800,000 jobs a month. and we now have seen 24 straight months of positive private sector jobs. >>neil: that is another place where you move the numbers. now that they talking about look
at the four million jobs created so that is the new chant. not when he assumed office when it got going in february of 2010 but we judge presidents on how they did from the point they came in. so it is like you are trying to move the field. >>guest: we all know that when something is going down really fast it takes time to stop it. the president acted immediately. he passed the recovery bill. he passed the auto rescue bill. what would mitt romney and paul ryan do? mitt romney was in favor of government intervention to health wall street, right? in favor of the bank rescue but to help the american manufacturing in forget it. >>neil: the purist would look at rescues, some were afraid, on this show we raised our concerns about president bush starting the bank rescue, it is a slippery slope and it leads to other industries expecting something from washington, and that, indeed, is what has developed to the point where, now, we have a lot of folks
dependent on the bigger government. how do you answer americans watching this from home, that, yes, i feel i am happy for those who now have something they didn't have before and the little girl who will be taken care of, but what about taxpayers who are saddled with the bill? >>guest: the moral hazardous issues is a real issue. applying it to what happened with the walletment -- wall street meltdown, president obama asked congress to intervene because they believed if you did not have intervention we would have the collapse of american economy. some would let the financial sector take a hit if it did not spread. >>neil: that does not still apply today. if bank of america went belly up would you recuse? >>guest: we passed the wall street reform to prevent the american taxpayers from being on the hook. a provision requires that companies have to pay in the end
for the rescue. to any rescue. >>neil: but if we are melting fast, this is an important issue, because you raise a good one, if we are in anotherment down, everything falls fast in that environment, so the assets -- would the government, then, god forbid we got back to bank of america going belly up. >>guest: we try to create firewalls, i am the first to agree it is not perfect but better than where we were in terms of preventing it from spreading. we trying to get to a point where we do not have to rescue the banks and that they have to go bankrupt and when they reap the benefits of the decisions they get to keep them, taxpayers should not be on the hook. >>neil: in the meantime you will play paul ryan for joe biden, practicing for the debate. how is that going? >>guest: well, look, we're going to get started in around
of -- in earnest soon. i know how paul likes do present those issues on national policy and foreign policy, and i could be of some help. >>neil: republicans are salivating that the vice president is a loose canon. you think republicans are getting ahead of themselves. >>guest: the vice president speaks from the heart. he is the first to say there are times when he has misspoken but what the american people necessity from joe biden he may have the title "vice president," but he is the guy who always is looking out for the average joe. he is known for that. he will come through. >>neil: thank you, congressman . >> the thinking was being in a right-to-work state so soon as it did after losing a crucial recall election in wisconsin, unions could be a little bit more humble, a little bit more quiet coming to the convention.
that consensus was wrong, very strong. far from being in retreat mode, unions are energized and dare i say, jazzed. [ honk! ] ♪ [ honk! ] ♪ [ male announcer ] now you'll know when to stop. [ hk! ] the all-new nissan altima with easy fill tire alert. [ honk! ] it's our most innovative altima ever. nissan. innovation that excites. ♪
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>>neil: people have a choice. they say, all right, stop. >>guest: stop, in he the vote was, will there be collective bargaining? 63 percent voted for collective bargaining. in wisconsin, it was two men, about scott walker and --. >>neil: but when people have the option, union members have the option, i pay or don't have to pay, they opt not to pay. >>guest: look, my union, the right-to-work state, we have 100 percent participation. because we represent our workers . >>neil: all right, richard trumka, i pity the folks who do not get fox business and miss exclusive exchanges like that, and a lot of people like certain governors, say, if you are one
in massachusetts, have people who avoid talking, but not this guy, and, not this next lady, because we don't, you know, we don't gobble them up and annoy. i will address with you what i rayed with mr. trumka, americans at home looking at this are getting fairly or not, a jaded view of unions and many in cities like san jose are bringing in and asking unions to rein in either their health care benefits, their pensions because the taxpayers are saying, no more, we cannot afford it. >>guest: what has happened is we have created a race to the bottom opposed to a race to the top if that the 60's and 70's and the 80's, or in the 50's, 60's, 70's and 80's we had the most robust growing middle class and now what we saw since the
recession was that a slamming first at the private sector and now at public sector, and, so, instead of figuring out how we do retirement security, how we figure out how we have health security, there is a divide and conquer mentality. as richard said, i saw the tapes, when there was a real head to head question to voters on, do you want teachers and firefighters and police officers to have collective bargaining, so that, you know, we work this stuff out. >>neil: but when you hear >>chris: -- you hear chris chris christie --. >>guest: i am disappointed in chris christie, as he was signing the tenured bill, the overhaul bill he gave great credit to the teacher unions and said, we need their input and support. also, why would chris christie, someone would says, i'm a real
leader say one thing to the base and another thing in terms of new jersey? the bottom line is, teachers actually want their unions. there has been a couple of new studyies, not studies we have done, where teachers want the unions to be there for them. >>neil: but when they see the paltry raises they are saying, push comes to shove why am i paying thousands, and they were given the choice, such as in wisconsin, they said, to hell with it i will not do it. >>guest: our member has been steady in the afl-cio, it is stable. that is with huge numbers of layoffs of teachers. >>neil: what are you doing that is flying in the face of declining leadership in general? what is going on? >>guest: we are being -- look, everyone is taking it on the chin. what has happened, the rich have got were rich. i don't begrudge them but we have to create fairness.
that is the difference. >>neil: how do you correct fairness? >>guest: let me tell you what i am doing. >>neil: why want do hear you brag. in an environment where we ask the rich to pay more which could be fine, then, why is it never mentioned that half the people in this country pay no income tax, a good number could be generally poor and can't, but we always frame it in the way, what can we get more from the rich than addressing the inherit spending? >>guest: the spending has actually gone up less under president obama than it went up before. >>neil: are you looking at $5 trillion we piled up? you saw the numbers, you are a teaches. >>guest: i am social studies teacher. >>neil: you missed math. >>guest: i have always struggled with math. president clinton knows arithemetic --. >>neil: he piled up more debt
--. >>guest: i said president clinton and the last democratic president we had --. what i am saying is this: after a recession, you have to do a stimulus. ultimately --. >>neil: did you think it would get this bad? >>guest: actually, the debt we have had a lot it came for two unpaid wars and unpaid benefits. the bottom line is if we want to make education better we have do come together to solve problems and that is what my union is doing. focusing on quality, focusing on fairness and focusing on uniting parents and teachers together. >>neil: always a pleasure. the head of the american federation teachers. she has tremendous clout. as a business ned at f i think people lose sight of what the convention is all about not only
energizing the base, but i think it is about punching that ticket. i am not saying hitting up people in the stands if donations, but, close, very, very close. here is the worry for obama campaign folks: they making progress, but, who is making more progress? mitt romney and paul ryan, it is not ever close. if the election were like this, mitt romney would be winning in a walk. that is not the case but when it cops to pun, he is opening up a landslide.
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prohibitive. it was a downpour a short while ago. here we be. in the charlotte convention center. where at least the democrats go not have to worry about the been of america symbol. i see a couple of bank of america symbols here. if anything, it is their logo for the convention. which, looks like the pepsi logo. but that is me. that is pepsi. i am sticking with it. i will leave this town say it is a pepsi logo. and working far from the convention site, raising money from the president to capitalize on this. and to see what change he can get from the donors' hands. always good to have you. how does it look on the
fundraising front? a startling development caught people's attention is how much money republicans are taking in and raising for mitt romney. and paul ryan. it is not close anymore. >>guest: the democrats and president obama have been raising for a long time. mitt romney and the republicans have just recently been raising money, they capture a large donor base and the continued political rhetoric we hear in discussion and the contrast coming from the democratic convention comparing working families to the wealthy machines that is further separating and drawing a contrast of wealthy donors which are continuing to run toward the republican party. however, president clinton's speech was very motivation am,
president clinton is an amazing fundraiser and rahm emanuel is an outstanding fundraiser so the democrats now are bringing out our ace pitchers. >>neil: but there is some worry in santa's workshop because you mention rahm emanuel, he quit the honorary position with the president's campaign to raise big dollar contributions for the pro obama have pac priorities usa, et cetera. something tells me the "shift" has hit the fan. >>guest: i don't think the fundraising has gone as well as expected. >>neil: why is that? why? are some of them getting annoyed about concerns you had when you were with me a short time ago the railing against the rich, they should pay more, which you disagree, you did not say you would compromise your support,
is it railing those guys and getting them upset saying well, forget him i will not give him anything? >>guest: well, you are seeing a bit of that. on tuesday night the discussion, the woman who had sued for equal pay, she gave an amazingly motivational speech. it was positive until she mentioned swiss bank accounts. that turns people off. that contrast attacking wealth. we all for equal pay. but it should stop there. just because someone is wealthy does not mean they do not support equal pay for women. those things frustrate wealthy americans. we heard one your guests talking about fair share. fairness. america has a fair system.
raising taxes does not make it more fair but makes more difficult for ordinary americans to is jobs. those who are creating wealth and opportunity and jobs have gotten frustrateed. >>neil: we will see how that goes. ♪ i can do anything today ♪ i cano anywhere ♪ i can go anywhere today ♪ la la lla la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything solutionism. the new optimis
>> neil: all right, welcome back, everybody. i want to remind you here, you know the shameless plug i am for the final channel fox business channel. we're back at this 8:00 tonight, it could be midnight or whatever, with the likes of austan goolsbee, sarah palin, chuck norris will be joining us. daniel cleaver. he brought down a speech that was electrifyingism don't care if you espouse his views or
not, but he can speak and only us on fox business tonight. look forward to joining us. another gentleman kind enough to grace our fox business presence last night, he had to go through the crowds and everything else, but james roosevelt junior thought i was worth it. but he is a class act. of course, that name might bring a well. the grandson of the great fdr, himself. james, good to have you back. i was thinking again of your grandfatherrism did say leading up to you this is like the 1936 convention that renominated him. the american people re-elected him in the big chance we took on bigger, more involved, you would argue helpful government was being widely criticized by republicans. and the recovery wasn't quite there yet. >> neil your're definitely worth it. >> neil: i appreciate it. for what you had to go through, you don't want to know. wall-to-wall people.
>> secondly, i want to say last night, first elizabeth warren and bill clinton summed up where we have come from over the last years with the stock market around 8,000, now up around 13,000. jobs, we were losing hundreds of thousands of jobs a month back then. now we have had 24 months overmanning. very similar to 1936. when things were starting to move in the right direction, but we weren't there yet we're not there yet right now. >> neil: you say you heard elizabeth warren. do you believe the corporations are people? >> cooperations are of course staffed by people and sell to people. but corporations themselves are not people. >> neil: but they are. >> that is where mitt overspoke. >> neil: but they are. it's one thing to develop by a company. that's fine. but it would be like walking here is an android here, blue chip here. they're people. you and me, right! i'm a people. i'm fox. >> but they are not the citizenning of our democracy. >> neil: they are. >> they are not.
if you read the constitution, they are not. >> neil: you can say that, but you say there is an inherent bias, you are at least more truthful in your presentation. you don't like corporate america. >> actually, i'm in corporate america. it run a corporation. >> neil: bottom line you don't trust companies. >> not true. >> neil: here is the danger. you guys do this, that gets back home and people back home say what the hell are these guys saying? >> i think catch ration most corporation works better with reasonable regulations. that's how we got to ensure 98% of the people in massachusetts. 99.9% of the kids. >> do you fear we overdue regulations? >> i think at times we have overdone it. i think president obama is bringing us back to the middle. >> neil: if fdr, your grand dad saw barack obama would what would he think of him? >> he'd think he was a transformational figure. he was facing the same kind of tough odds that my grandfather fdr faced in 1933-1937.
>> neil: all right. always good to see you, james roosevelt junior. does his grandfather proud. of course, elizabeth warren stuff, i'll let it go. >> thanks. >> neil: we have a lot more coming up on this fine networ network. again tonight, fox business networkment about to get this thing gaveled to the time and biggest night. it's all tapping the base, tonight. 10 inch hose clamp plie you know what's complicated? shipping. shipping's complicated. not really. with priority mail flat rate boxes from the postal service shipping's easy. if it fits, it ships anywhere in the country for a low flat rate. that's not complicated. no. come on. how about... a handshake. alright. priority mail flat rate boxes. starting at just $5.15. only from the postal service. syou know, i've helped a lot off people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange.
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