benefit guarantee corporation, a government agency, and it sounds like your pension is guaranteed. in fact, it's right in their name, but guess what, it's not guaranteed. it's a bloated group losing billions of dollars each and every year, and it looks like they need a taxpayer bailout if things do not change, and soon, but back to you. if yourmployer goes under, they dump the pension on to the government agency, but the rules changed, and depending upon how much you are owed, you may just get very small portion of it. crepts on the dollar. ask the employees of pilots from united or delta who get just a small portion of what they were promised, so don't believe the name or the guarantee. promises made to you may be broken, and i don't want you snick snickered -- snickered by the misleading name of this agency. melissa? melissa: thanks, see his show this weekend on saturday and sunday.
also, be sure to catch my exclusive interview with illinois state treasurer on monday. he's going to come on to take about illinois' lowers credit rating. a big story monday, 1 p.m. eastern here on fox business. thanks to both of you. have a wonderful weekend. happy friday to everyone out there. see you back here monday.m m m l cavuto. he will be back tomorrow night. have a great one. john: this week watching the inauguration i wondered, did we elected king? america's first inauguration. john adams suggested george washington be called his most benign. fortunately congress insisted on a more mesest title. people cheering the president. acting like he would make everything better. >> climate change. >> what do you think the next four years will be like?
>> i think it's going to get better. john: what will president obama do about immigration? >> and discernible. john: marijuana. >> i expect the federal government to come in. john: that is our show tonight. >> and now john stossel. ♪ john: to was that guy? anyway, this monday our nation's capital looked like a marquee when a new king is ground. thousands of plot, a cheer. many act like subjects worshiping nobility. economic troubles, why all the pomp? watching, i wondered, should our
capital be called imperial washington? maybe ago to far. senator john barrasso attended the inauguration joining us from washington. my imperial washington seems to be a minority opinion. in my being unfair? >> i have been to every inauguration since i was in my dad took me to john kennedy's inauguration this inauguration, i tell you, i am less concerned about what happens one day than i am concerned about what this president plans to do for the next four years as an imperial president with rules and regulations and red tape and the czars, the recess appointments rather than actually realizing this is one of three branches of government. at think he believes he is the king. john: you talk about your father bringing you to these inauguration's which is sort of unusual. john: you talk about your father bringing you to these inaugurations. you are a real job, you were a
doctor. now that you are in the senate, is there an imperial attitude of fix it all? >> i think the imperial attitude is coming out of the obama white house, and you just saw this it is related to guns and issues there and we are going to continue to see this president overreach and do things that he wasn't able to do this idea of executive orders that seem extraordinary. he said he spoke of the lava lamp. and this is a president that i think has gone way beyond that. the number of regulations have come out what are called significant regulations, which have an impact of over $100 million. those are the things hurting our economy making it harder for hard-working taxpayers.
john: to be paired up president obama's taxpayers, president obama is not the first to do this. >> if you go back to the founding fathers, if men were angels, we would need lots. about is why we have a checks and balances system of government and the president doesn't believe that that applies to him even when i go back to our first president, george washington said political parties are likely in the course of time to become potent engines in which cunning and ambitious and principled -- unprincipled men assert from themselves the reins of government for unjust dominion.
do you see that in washington? >> i want to improve the quality of life of the american people. what you have now seen with that, and we have seen what the president's campaign team, they have moved back to a nonprofit and they are going to take money from unions and corporations. they will not say that they will report how much they get each of those corporations and they say that they would use it for political purposes. not to deal with jobs and the economy, which are the interests of the american people, but they are going to focus on guns and immigration and climate change, of all things, that is what they're going to do. john: they said that we don't need no stinking congress on the weekly standard cover?
>> that tells the way that this imperial presidency is going to be run. the president's disdain for congress doesn't justify the republican party. i talked to colleagues in the senate who are democrats. chairmen chairman of committees who have not heard from the president for extended periods of time. the president is seeming to divorce himself from the entire institution. john: why not, i have disdain for congress, a lot of them are self-interested buffoons. >> the constitution was set up in a way where there are checks and balances. it is the opportunity of individual citizens to have their voices heard by their local elected representatives. the president should be be
paying attention to that convenience rather than thinking it's his way or the highway and he knows that. he is saying that i am the government and i'm here to help you. john: senator barrasso, thank you for joining us tonight and thank you for attending the in non-girl celebration so i don't have to. kennedy, i think you as well. >> it was cold and crowded and boring it is an entire group of people and they can appropriately be called obama zombies. but they went looking for brains. they were looking for a hero to worship. >> i feel good that we have
reelected obama. >> we left chicago, there hasn't been in the snow and this is important. >> when you think the next four years are going to be like? >> i think it's going to get better for sure. >> it will get better? >> also? >> more jobs. i think so. >> what will drive the economy? >> i think he's going to one further time. >> he think he would if he could? >> that the only thing that's going to hold him back. he can change that. we say that we are from stossel and then they walk away and say what does that err on?
and they say oh, fox. then they walk away. john: inaugural speeches have traditionally been more ceremonial. this one was overly political. we have absolutists who resist and the crowd like that. >> now that he has the mandate, having been elected for the second term, he has the latitude to be able to make some of those bolder moves. >> he has shown his true colors. john: that's frightening, his true colors. >> he is going to use this newfound freedom and if i have played a drinking game every time somebody uses the word mandate, i would've had alcohol poisoning by noon. his true colors are going to allow him to use his freedom to
squash our personal freedom. just wait and see. john: you interview people who repeated talking points? >> yes, as though they are the democratic party had issued everyone the same statements and lines about climate change and the mandates and health health care. i didn't see any of the pamphlets. but it was incredible. no one was able to think their own thoughts or i'll kick you articulate their own words. john: where will the money come from? the crowds didn't see a problem with that. >> he is a big spending president, how does he curtail spending? >> i would like to differ with that. bush spent a lot of money and never did anything.
>> have you looked at the numbers? >> i would like to differ with you on that. >> you can like to differ, but it's not true. >> it is true if you look at how much president bush spent, it's more than what obama spent. >> i think we can do it if we stop spending a lot of money on wars. >> taxing people that have a lot of money is not unfair. we don't need people to be as rich as they really are. john: for the record, bush did spend an astounding $3 trillion per year, but obama spent 3.8 trillion per year so far, and that is adjusted for inflation. so obama spent 25% more. but they don't believe that. they think it's all bush's fault. >> it's a special kind of kool-aid, it is half worship
ms. with dilution -- mixed with dilution. look at the threats that are happening in this country? john: i hope we would learn from what happened in greece. but as of this week, no longer do because the reaction of people in greece is not to say we messed up, we spend too much, it is to be angry about the politicians who want to cut back. and how do they take it out, they bombed the homes of tv commentators who support this. so that is a model for us? >> unfortunately that is the road we are headed down. i live in california and we see it coming faster.
we shouldn't be that close to greece being on the opposite coast, but we are. john: another model for failure. >> he said i was a model and i take that as a compliment. i studied in greece and i love greece and i understand the greek people. i will go there and show the problems and come up with potential solutions and we can solve everything together. john: okay, we will have to talk about that. thank you, kennedy. later in the show, the president's own words. >> america has a debt problem. john: okay, that's not the actual president, but those are barack obama's words. next, how states may push b officemax can help you drive supply costs down... and down.
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they can't." as we begin, what can we do it we disagree with president obama's big government vision? mark meckler and starlee rhoades has some ideas. they have the citizens for self-governance. starlee rhoades is president of the goldwater institute. both say we can return power to the states. what do you mean? start with obamacare. >> state should establish health insurance exchanges. twenty-five states said go right ahead, the policy on your own. you will have to implement it on your own watch. it protects and stops massive subsidies from being paid out from insurance companies and it protects people from being told on by the irs.
john: the exchange is a place where you go on the web and it helps you buy an insurance policy. he insurance does that at no cost to the taxpayer. i don't know why it has to be such a big deal or cost so much. >> that is what the federal government will do, and extinction each day. but the thing that is great about that policy change is having the federal government do it versus the state is that taxpayers are actually going to be protected from the very worst parts of the federal health care law. so we think that it is a great ideal. john: they can't find you if you don't join up. >> that's right, when it was written, congress would not give the federal government authority to assess the penalties on businesses for noncompliance.
it also did not give the federal government authority to subsidize private insurance companies. so without subsidies to insurance companies and businesses who refuse to comply with the law, where whereas the law? it is nowhere? john: your group wants to go farther? >> it is an agreement between two or more states and we have seven states that are now passing it the legislators voted for it and have signed it into law and i will be presented to congress. if approved by congress, it gives total authority for health care in her state, including making the money come back to the state. this is the way for states to say we can do a better job and we are closer to the people. we think that is a good approach across the board they can have a
single-payer system or like the state of texas might do, have a free open system. john: let's move onto other topics for the federal government has taken over. the department of education. >> it is historically a total weight. no improvement in test scores, federally mandated standards that are doing nothing for our children. john: they are spending $100 billion per year. >> that's right, no company could do that. we as americans have allow that to continue too long. it should be up to the parents. they are the stakeholders. john: the states haven't done a great job. >> some states are doing a really good job. one thing we are seeing across the country is the federal government is asking states to homogenized education and they want every school to teach the exact same thing doing it the
same way in places like arizona. we are seeing the state well in an opposite direction where parents are being given the freedom to a new program of education savings accounts to handpick courses and learning opportunities that will be great for their individual children. john: the third topic is marijuana. a dozen states allow medical marijuana. two states, colorado and washington state support legalization. president obama admits that he got high and smoke. and now he is locking people up for doing what he did. >> he thinks it's funny that he got away with it and it's ruining other people's lives. the federal government should never been involved in this area. john: what is ruining other people's lives? >> they are getting locked up and prosecuted for the things that he did and he thinks it's funny. he is in charge to make sure
that those institutions go forward. the federal government should have no involvement. let the state to represent the people that make those decisions on their own. >> the president did also say that he has bigger fish to fry than people smoking a joint in colorado. so we will see. >> what they want is to create a nation of criminals and unsure of who will be prosecuted. they do it not only with marijuana and drug policy, but all areas create we get so much over criminalization is creating homes for all of us. john: let's talk about guns. since the connecticut school shooting, there is a new drive for federal gun control. at the inauguration, kennedy found people very talkative about that. >> guns need to go away.
>> we can't pick and choose, then we? >> yes, we can. >> i like the fourth and fifth. >> i like them all in. >> well, i don't like to second. it can go away. >> guns can go away, okay. john: this is an educated woman. she will keep the fourth and fifth and thoroughly the second. >> the second amendment was designed to protect us against government tierney. that is someone who is in support of governor tierney.. john:
john: what about taxes? >> we should just do away with taxes altogether and. john: we hear this but it's not gone. people like federal rules. >> one of the things that we know is that states without an income tax be so much better economically. we have a higher rate of entrepreneurship, they have higher job growth, higher personal income growth. in states where we are seeing this, where they have experimented with it, they are doing better. last week for new governors said they will make a push to eliminate their state income tax and i think we will see a lot more states compete against each other to attract businesses and economic development in a way. john: thank you, starlee rhoades and mark meckler.
>> hill the goals sneaking to america, take our jobs, a commit crimes, going welfare. no. most honest, hard-working and builds america up. of that is a debate about immigration negative year. obama issued the executive order to allow children whose parents brought them here illegally to work for two years without deportation.
but daniel who leads the of the british and assess it was done to score political points. >> it is not helpful. john: why? he guilt -- legalese is -- legalizes some workers. >> it is a temporary solution people on the hill were working to make it permanent it was derailed. john: there is a better plan? >> on one side president obama once a big massive spill that is the unpalatable to the republicans who once it to the bite size chunks huckabee address those who are unauthorized?
and those who want to come into the country. john: but those who come forward to have fingerprinted calmat pay back taxes, fines, then can apply. >> cattle dinky says that. so what we do is decriminalized the activity where business forces higher they need to but unfortunately we have a criminal culture that needs to be addressed. john: like your father? >> he was on the shoulders of his uncle illegally. he made the decision to work john: i will push back. if you have a bill that legalizes people this
rewards illegality. we will forgive you. >> they come from rural areas in countries in latin america they do things extralegal is that important. they break a lot to work americans break the law not to work. [applause] john: it will lower the wage of the american workers? they go on welfare? they games this system. >> we need to set a condition of those will be self-reliant and they have to prove that. maybe after so many years prove themselves then apply for govett is important. it is important to stay together. john: eroded article that said people are not illegal
but 12 million people are. they are illegal. you object? >> strongly. their fathers and mothers and grandparents seeking opportunity. what they do is a legal. your branding them and dehumanize them it is better not to think of their dreams are aspirations equal to yours. the terminal viggo is the meaning. john: thank you daniel garza from libre initiative who believes in the free-market. the real barack obama? >> of washington was serious we would reduce debt by
john. >> we must make a choice to reduce health care and the size of the deficit. john: yes. we must make hard choices. but the president has not proposed hard choices. and his inaugural address he said that once and then rejected as it sync u.s. choose between the elderly next-generation. the government must be santa claus. i am grateful to grover
norquist. he got many politicians to pledge not to raise taxes. good. it is thought those tax limits would start the beast but that is not working even those that keep spending. it is a far more accurate gauge every dollar government spends if it is borrowed it has hired taxes later. if it brings more dollar the purchasing power puts a tax on the future. what we really need politicians pledging not to raise spending. we have that thanks to jonathan bydlak with the coalition to reduce spending with the reject the debt
pledge. >> one is only vote for the balanced budget, i do not vote for new spending that does not offset others into not go increased our way or the debt ceiling. >> we will for this election cycle. >> john: but most of them lost. >> true. it is not easy to sign. it is hard to say you not increase bar wing are spending. john: therefore i pledge of unauthorized refund in new programs without offsetting cuts. i will not vote for any budget that is not balanced? that seems unrealistic.
if you just slow the growth you could get a sadr trouble it is not unrealistic. >> the budget is not a blueprint. but the senate has not passed in the last 3-1/2 years. it is less relevant than the other two. >> it be a fiscal conservative senator but at least now he is on the record if he votes for new spending programs, he can be held accountable. john: of fox news poll asks government spending is out of control or managed carefully? sixty-two% said out of control but this year, 83%.
why do people think that? >> if you ask mr. doo audience that but it. >> who your representative peter. but if you are spending 10,001 the need to do? the average person does not ask for the $5,000 raise but they will say i need to look at what i'm spending on my money but they don't make that connection to the us political theater and cannot hold them accountable. that is why the pledge is important. >> everybody says cut spending.
but with specifics is it defense, medicare, a drug war? >> last month 40 percent showed everything in the budget should be on the table to balance the budget. that is the highest ever which is about a 4% increase so in context people get we have a spending problem. john: thank you, jonathan bydlak. we ask the audience and then senator barack obama.
susan cross says executive orders. what are the limits and who made the most? >> executive orders used by president's supposedly to allow them to execute the law. they're not specified in the constitution and president's had used them but they are a way to create the imperial presidency. they have no limits. john: it was teddy roosevelt who issued 1,000 executive orders. >> who said the words should be spelled phonetically like enough because only congress had the two-thirds vote did that not have been -- have
been. >> when will the government get serious? >> massive inflation? there is a change of incentives. >> but to cut spending increase spending they have lobbying groups cannot but there needs to be something on the other side that 99 percent of testimony is for more spending. >> it is time for the advocacy organization to show there is a movement of people who care enough to vote. >> states all across the country have the same problems was spending the
the lobbyist outnumber the voters at 10 /1. john: what does that mean? >> somebody who is paid to lobby for this state health care program, environmental office, state schools. >> and they are politically connected. if your affluent and connected you get part of the pie. >> disregarding the morality of the ethics is it more acceptable to break the law? property and lives are not
john: did you watch the inaugural ceremony? how many of you? a minority. we watched. i thought obama's started okay cement the patriots a 1776 did not fight to replace the tyranny of the king with the privileges of a few. john: america does not need the tyranny of the king or privileged view but the president went on to say he and the privileged few should force the rest of us. >> together, together together, together, together we must do these things together. john: that means that they
have a vision and all of us together must go in debt to pay for their vision even if we disagree. but america does not have the spending problem. and a debt problem but a prefer senator barack obama. >> i am here today to talk about america's debt problem. the we here to debate the said that limit is a sign of leadership failure. john: right to. that is a failure. he was not president but then he cared about the debt. we cannot find a video of it but here are his words from the congressional record.
>> of the past five years or federal debt has increased from 5 trillion up to 8. $6 trillion. yes. i said trillion with solidarity. john: he was right to worry senate that is money we have borrowed from the social security trust fund, china, japan, american taxpayers this is a hidden domestic enemy robbing us of infrastructure, families and children, and seniors of the health security they have counted on. john: exactly. it is a hidden domestic enemy of was glad to hear the president was upset about our interest. >> every dollar we pay interest does not go to